# EDGAR Filing Document

**Accession Number:** 0000810893
**File Stem:** 0001099263-26-002976
**Filing Date:** 2026-3
**Character Count:** 4124500
**Document Hash:** fcf021c7e2832060e43475983a47ecef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-002976.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001099263-26-002976

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260331

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05028
- **FILM NUMBER:** 26705120

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

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

## Series and Classes Contracts Data

### PIMCO Mortgage and Short-Term Investments Portfolio (Series ID: S000009853)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000027281 | PIMCO Mortgage and Short-Term Investments Portfolio |  |

## Nport-Ex

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio December 31, 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 142.7% ¤** |  |  |
| **CORPORATE BONDS & NOTES 0.2%**  |  |  |
| **BANKING & FINANCE 0.2%**  |  |  |
| **Ambac Assurance Corp.** <br>5.100% due 12/31/2099 (f) | $43 | $56 |
| **Preferred Term Securities X Ltd./Preferred Term Securities X, Inc.** <br>5.120% (US0003M + 0.860%) due 07/03/2033 ~ | 325 | 325 |
| **Preferred Term Securities XXI Ltd./Preferred Term Securities XXI, Inc.** <br>4.073% (US0003M + 0.350%) due 03/22/2038 ~ | 16425 | 15768 |
|  |  | 16149 |
| **INDUSTRIALS 0.0%**  |  |  |
| **Crown Castle Towers LLC** <br>4.241% due 07/15/2048 | 500 | 499 |
| **CVS Pass-Through Trust** <br>5.880% due 01/10/2028 | 316 | 319 |
| **Times Square Hotel Trust** <br>8.528% due 08/01/2026 | 502 | 503 |
|  |  | 1321 |
| Total Corporate Bonds & Notes (Cost $17,277) |  | 17470 |
| **U.S. GOVERNMENT AGENCIES 64.7%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 3.000% due 04/01/2037 - 05/01/2052 | 16064 | 14518 |
| 3.500% due 07/01/2046 - 05/01/2052 | 453 | 422 |
| 4.000% due 04/01/2039 - 09/01/2052 | 6815 | 6676 |
| 5.000% due 06/01/2053 - 03/01/2055 | 1232 | 1230 |
| 5.500% due 12/01/2052 - 05/01/2053 | 43709 | 44504 |
| 5.892% due 11/01/2034 •  | 5 | 6 |
| 5.939% due 08/01/2031 •  | 4 | 4 |
| 6.040% due 11/01/2034 •  | 1 | 1 |
| 6.090% due 09/01/2035 •  | 2 | 2 |
| 6.106% due 10/01/2034 •  | 3 | 3 |
| 6.215% due 09/01/2028 •  | 1 | 1 |
| 6.234% due 01/01/2035 •  | 1 | 1 |
| 6.272% due 02/01/2035 •  | 6 | 6 |
| 6.307% due 12/01/2033 •  | 7 | 8 |
| 6.360% due 09/01/2033 •  | 4 | 5 |
| 6.372% due 03/01/2032 •  | 6 | 6 |
| 6.480% due 03/01/2034 - 04/01/2034 •  | 6 | 6 |
| 6.500% due 02/01/2035 •  | 4 | 4 |
| 6.500% due 02/01/2054 - 04/01/2055 | 19692 | 20469 |
| 6.552% due 01/01/2035 •  | 2 | 2 |
| 6.612% due 01/01/2035 •  | 3 | 4 |
| 6.617% due 07/01/2037 •  | 1 | 1 |
| 6.645% due 02/01/2036 •  | 1 | 1 |
| 6.656% due 02/01/2035 •  | 2 | 2 |
| 7.000% due 05/01/2054 - 08/01/2055 | 30489 | 32195 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates**  |  |  |
| 0.480% due 01/25/2034 ~(a) | 85473 | 2376 |
| 0.773% due 03/25/2034 ~(a) | 66401 | 2978 |
| 2.903% due 07/25/2054 ~ | 49372 | 48063 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 4.000% due 10/15/2033 | 11 | 11 |
| 4.348% due 10/15/2032 •  | 1 | 1 |
| 4.448% due 12/15/2029 •  | 2 | 2 |
| 4.548% due 12/15/2031 •  | 1 | 1 |
| 4.648% due 08/15/2031 •  | 2 | 2 |
| 5.000% due 02/15/2036 | 67 | 68 |
| 5.074% due 12/25/2054 •  | 1602 | 1608 |
| 5.500% due 05/15/2036 | 5 | 5 |
| 7.000% due 06/15/2029 | 2 | 2 |
| 7.500% due 01/15/2031 | 1 | 1 |
| **Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates**  |  |  |
| 4.106% due 08/25/2031 •  | 14 | 14 |
| 5.229% due 10/25/2044 - 02/25/2045 •  | 775 | 716 |
| 5.429% due 07/25/2044 •  | 209 | 204 |
| 6.500% due 07/25/2043 | 215 | 224 |
| **Federal National Mortgage Association**  |  |  |
| 2.500% due 07/01/2037 | 812 | 768 |
| 3.000% due 12/01/2026 - 05/01/2052 | 6614 | 6136 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 3.500% due 03/01/2040 - 02/01/2050 | 15866 | 14924 |
| 4.000% due 08/01/2038 - 01/01/2059 | 7745 | 7526 |
| 4.500% due 07/01/2052 - 04/01/2053 | 9772 | 9585 |
| 4.713% due 05/01/2036 •  | 1 | 1 |
| 5.000% due 06/01/2053 | 31 | 31 |
| 5.277% due 03/01/2044 - 10/01/2044 •  | 13 | 13 |
| 5.477% due 10/01/2040 •  | 4 | 4 |
| 5.500% due 11/01/2052 - 03/01/2053 | 13269 | 13513 |
| 5.765% due 11/01/2035 •  | 1 | 1 |
| 5.810% due 02/01/2033 •  | 5 | 5 |
| 5.850% due 11/01/2034 •  | 1 | 1 |
| 5.951% due 06/01/2033 •  | 2 | 2 |
| 5.994% due 09/01/2033 •  | 10 | 10 |
| 6.000% due 12/01/2052 - 02/01/2054 | 2139 | 2207 |
| 6.012% due 03/01/2035 •  | 3 | 3 |
| 6.022% due 05/01/2034 •  | 7 | 8 |
| 6.102% due 11/01/2032 •  | 6 | 6 |
| 6.194% due 07/01/2035 •  | 1 | 1 |
| 6.197% due 07/01/2033 •  | 1 | 1 |
| 6.206% due 10/01/2034 •  | 2 | 2 |
| 6.242% due 02/01/2035 •  | 2 | 2 |
| 6.246% due 10/01/2032 •  | 3 | 3 |
| 6.298% due 12/01/2035 •  | 2 | 2 |
| 6.302% due 02/01/2035 •  | 1 | 1 |
| 6.304% due 01/01/2035 •  | 2 | 2 |
| 6.308% due 05/01/2036 •  | 3 | 3 |
| 6.335% due 03/01/2035 •  | 4 | 4 |
| 6.364% due 09/01/2033 •  | 2 | 2 |
| 6.375% due 03/01/2029 - 04/01/2032 •  | 1 | 1 |
| 6.386% due 07/01/2033 •  | 1 | 1 |
| 6.410% due 11/01/2034 •  | 5 | 5 |
| 6.465% due 05/01/2033 •  | 6 | 6 |
| 6.493% due 03/01/2033 •  | 1 | 1 |
| 6.500% due 09/01/2033 •  | 4 | 4 |
| 6.500% due 02/01/2044 - 03/01/2055 | 88637 | 92144 |
| 6.581% due 01/01/2037 •  | 2 | 2 |
| 6.584% due 12/01/2036 •  | 1 | 1 |
| 6.616% due 04/01/2036 •  | 7 | 7 |
| 6.626% due 03/01/2035 •  | 1 | 1 |
| 6.635% due 04/01/2033 •  | 3 | 3 |
| 6.700% due 12/01/2036 •  | 3 | 3 |
| 6.845% due 06/01/2033 •  | 19 | 20 |
| 7.000% due 03/01/2045 - 04/01/2055 | 29862 | 31654 |
| 8.500% due 04/01/2030 - 11/01/2030 | 3 | 3 |
| **Federal National Mortgage Association Grantor Trust**<br>7.000% due 07/25/2042 | 2 | 2 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 2.011% due 11/25/2049 •(a) | 452 | 59 |
| 4.000% due 11/25/2033 | 25 | 25 |
| 4.109% due 07/25/2037 •  | 335 | 329 |
| 4.177% due 03/25/2036 •  | 5 | 5 |
| 4.639% due 11/25/2031 •  | 9 | 9 |
| 4.989% due 04/25/2032 •  | 1 | 1 |
| 5.000% due 11/25/2032 | 433 | 432 |
| 5.074% due 12/25/2054 •  | 1491 | 1497 |
| 5.500% due 09/25/2035 | 2338 | 2405 |
| **Federal National Mortgage Association REMICS Trust**  |  |  |
| 4.109% due 08/25/2031 •  | 24 | 23 |
| 6.500% due 06/25/2028 | 1 | 1 |
| **First Foundation Bank Multifamily Housing Mortgage Loan Trust**<br>2.749% due 06/25/2054 ~ | 1700 | 1658 |
| **Government National Mortgage Association**  |  |  |
| 3.000% due 10/20/2051 - 12/20/2052 | 20247 | 18231 |
| 3.500% due 01/20/2052 - 07/20/2055 | 50003 | 45652 |
| 4.500% due 07/20/2040 - 12/20/2053 | 7005 | 6907 |
| 4.750% (H15T1Y + 1.500%) due 10/20/2026 ~ | 1 | 1 |
| 4.750% due 12/20/2027 - 10/20/2033 •  | 6 | 5 |
| 5.375% due 07/20/2029 - 09/20/2033 •  | 18 | 18 |
| 5.625% due 01/20/2027 - 05/20/2032 •  | 17 | 18 |
| 6.000% due 02/20/2055 | 111 | 113 |
| 6.500% due 01/20/2055 - 02/20/2055 | 8303 | 8596 |
| **Government National Mortgage Association REMICS**  |  |  |
| 4.368% due 01/20/2072 •  | 194 | 194 |
| 4.414% due 03/20/2068 •  | 774 | 772 |
| 4.454% due 12/20/2062 •  | 440 | 439 |
| 4.464% due 10/20/2062 •  | 324 | 323 |
| 4.564% due 02/20/2061 •  | 42 | 42 |
| 4.718% due 09/20/2055 •  | 1905 | 1909 |
| 4.764% due 02/20/2070 •  | 178 | 178 |
| 4.794% due 11/20/2065 •  | 573 | 575 |
| 4.836% due 04/20/2054 •  | 2000 | 2000 |
| 4.844% due 09/20/2063 •  | 224 | 225 |
| 4.864% due 09/20/2063 - 02/20/2067 •  | 483 | 484 |
| 4.868% due 11/20/2055 •  | 1998 | 2001 |
| 4.918% due 10/20/2055 •  | 1545 | 1549 |
| 5.114% due 12/20/2066 •  | 508 | 511 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Government National Mortgage Association, TBA**  |  |  |
| 2.000% due 02/01/2056 | 3000 | 2485 |
| 2.500% due 02/01/2056 | 3600 | 3105 |
| 3.500% due 02/01/2056 | 12900 | 11740 |
| 4.000% due 02/01/2056 | 14800 | 13978 |
| 4.500% due 02/01/2056 | 27400 | 26673 |
| 5.000% due 01/01/2056 | 3300 | 3293 |
| 5.500% due 01/01/2056 | 24400 | 24640 |
| 6.000% due 01/01/2056 - 02/01/2056 | 162900 | 165925 |
| 6.500% due 02/01/2056 | 103700 | 107090 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 2.500% due 02/01/2056 | 29400 | 24854 |
| 3.000% due 01/01/2041 - 02/01/2056 | 128740 | 118510 |
| 3.500% due 02/01/2056 | 85000 | 78323 |
| 4.000% due 02/01/2056 | 272050 | 257913 |
| 4.500% due 02/01/2056 | 60200 | 58721 |
| 5.000% due 01/01/2056 - 02/01/2056 | 768035 | 765370 |
| 5.500% due 02/01/2056 | 609600 | 617600 |
| 6.000% due 01/01/2056 - 03/01/2056 | 1344885 | 1380398 |
| 6.500% due 01/01/2056 - 03/01/2056 | 1156997 | 1203053 |
| Total U.S. Government Agencies (Cost $5,296,431) |  | 5315836 |
| **U.S. TREASURY OBLIGATIONS 1.1%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 4.000% due 11/15/2042 (i)(k) | 49800 | 45661 |
| 4.000% due 11/15/2052 (i)(k) | 37800 | 32797 |
| **U.S. Treasury Notes**  |  |  |
| 2.375% due 05/15/2029 (i)(k) | 8900 | 8559 |
| Total U.S. Treasury Obligations (Cost $100,194) |  | 87017 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 20.2%**  |  |  |
| **1211 Avenue of the Americas Trust** <br>3.901% due 08/10/2035 | 4050 | 3922 |
| **225 Liberty Street Trust** <br>3.597% due 02/10/2036 | 2000 | 1961 |
| **280 Park Avenue Mortgage Trust** <br>4.958% due 09/15/2034 •  | 1400 | 1396 |
| **ACRA Trust** <br>5.608% due 10/25/2064 þ | 795 | 799 |
| **Adjustable Rate Mortgage Trust**  |  |  |
| 4.406% due 11/25/2035 •  | 48 | 48 |
| 4.406% due 08/25/2036 •  | 28947 | 8855 |
| 4.486% due 01/25/2036 •  | 195 | 188 |
| 6.054% due 11/25/2037 ~  | 294 | 185 |
| **AG Trust** <br>5.766% due 08/15/2041 •  | 3136 | 3157 |
| **American Home Mortgage Assets Trust** <br>6.750% due 11/25/2046 þ | 6451 | 5893 |
| **American Home Mortgage Investment Trust** <br>6.130% due 04/25/2044 •  | 155 | 172 |
| **Angel Oak Mortgage Trust**  |  |  |
| 1.469% due 06/25/2065 ~  | 79 | 76 |
| 4.800% due 11/25/2067 þ  | 23700 | 23653 |
| 5.985% due 01/25/2069 þ  | 707 | 714 |
| 6.197% due 01/25/2069 þ  | 2218 | 2246 |
| 6.500% due 12/25/2067 þ  | 993 | 1002 |
| **Arroyo Mortgage Trust**  |  |  |
| 1.175% due 10/25/2048 ~  | 2920 | 2648 |
| 1.483% due 10/25/2048 ~  | 3841 | 3502 |
| 1.637% due 10/25/2048 ~  | 1948 | 1779 |
| **Ashford Hospitality Trust** <br>4.823% due 04/15/2035 •  | 4245 | 4241 |
| **ATLX Trust** <br>3.850% due 04/25/2064 þ | 1947 | 1905 |
| **BAMLL Commercial Mortgage Securities Trust** <br>4.091% due 08/10/2038 ~ | 1655 | 1624 |
| **Banc of America Alternative Loan Trust**  |  |  |
| 6.000% due 07/25/2034  | 342 | 322 |
| 6.000% due 04/25/2037  | 1301 | 1132 |
| **Banc of America Funding Trust**  |  |  |
| 3.401% due 10/20/2046 ~  | 280 | 241 |
| 3.742% due 10/26/2036 ~  | 61942 | 59976 |
| 3.876% due 01/20/2047 ~  | 319 | 234 |
| 4.067% due 09/20/2046 ~  | 48 | 41 |
| 4.228% due 10/20/2036 •  | 2186 | 1717 |
| 4.308% due 02/20/2047 •  | 1158 | 1102 |
| 4.654% due 09/20/2046 ~  | 331 | 299 |
| 4.787% due 01/20/2047 ~  | 3 | 3 |
| 5.750% due 08/25/2036  | 71 | 61 |
| 6.220% due 09/20/2046 ~  | 264 | 261 |
| **Banc of America Mortgage Trust**  |  |  |
| 3.522% due 11/20/2046 ~  | 20 | 16 |
| 4.517% due 10/25/2035 ~  | 157 | 147 |
| 5.389% due 06/25/2035 ~  | 204 | 196 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.492% due 11/25/2033 ~  | 3 | 3 |
| 5.641% due 06/25/2034 ~  | 66 | 64 |
| 5.810% due 09/25/2033 ~  | 369 | 309 |
| 6.372% due 12/25/2033 ~  | 22 | 22 |
| 7.084% due 05/25/2034 ~  | 281 | 278 |
| **BankUnited Trust** <br>4.446% due 09/25/2045 •  | 37 | 36 |
| **BCAP LLC Trust**  |  |  |
| 4.335% due 11/26/2036 ~  | 3849 | 3187 |
| 4.363% due 01/26/2036 •  | 8302 | 7764 |
| 6.246% due 10/25/2047 •  | 11354 | 8582 |
| **Bear Stearns ALT-A Trust**  |  |  |
| 3.466% due 11/25/2034 ~  | 192 | 160 |
| 3.690% due 04/25/2035 ~  | 983 | 805 |
| 4.159% due 08/25/2036 ~  | 901 | 402 |
| 4.246% due 04/25/2035 ~  | 10 | 10 |
| 4.455% due 02/25/2036 ~  | 1811 | 1270 |
| 4.559% due 08/25/2036 ~  | 1268 | 772 |
| 5.075% due 07/25/2035 ~  | 5972 | 3478 |
| 5.096% due 01/25/2036 ~  | 506 | 482 |
| 5.437% due 01/25/2034 ~  | 164 | 155 |
| 5.536% due 11/25/2035 ~  | 600 | 260 |
| 5.571% due 09/25/2034 •  | 2557 | 2520 |
| 5.868% due 08/25/2034 ~  | 352 | 337 |
| 5.997% due 12/25/2033 ~  | 89 | 87 |
| **Bear Stearns ARM Trust**  |  |  |
| 4.000% due 05/25/2034 ~  | 14 | 13 |
| 4.203% due 05/25/2047 ~  | 178 | 160 |
| 4.558% due 04/25/2034 ~  | 24 | 21 |
| 4.580% due 02/25/2035 ~  | 290 | 236 |
| 4.813% due 11/25/2030 ~  | 28 | 28 |
| 4.909% due 10/25/2034 ~  | 16 | 13 |
| 5.010% due 01/25/2035 ~  | 850 | 798 |
| 5.378% due 12/25/2035 ~  | 74 | 63 |
| 5.657% due 11/25/2034 ~  | 167 | 154 |
| 5.734% due 01/25/2034 ~  | 16 | 15 |
| 5.850% due 12/25/2046 •  | 1510 | 1368 |
| 5.894% due 08/25/2035 ~  | 322 | 314 |
| 6.232% due 11/25/2034 ~  | 47 | 45 |
| 6.329% due 02/25/2036 ~  | 31 | 30 |
| **Bear Stearns Mortgage Funding Trust**  |  |  |
| 4.006% due 12/25/2046 •  | 4554 | 4084 |
| 4.056% due 01/25/2037 •  | 278 | 264 |
| **Bear Stearns Structured Products, Inc. Trust**  |  |  |
| 3.944% due 12/26/2046 ~  | 1967 | 1564 |
| 5.000% due 01/26/2036 ~  | 1355 | 957 |
| **Bella Vista Mortgage Trust**  |  |  |
| 4.346% due 05/20/2045 •  | 1055 | 675 |
| 4.586% due 02/25/2035 •  | 6849 | 4307 |
| 7.259% due 11/20/2034 ~  | 1752 | 1796 |
| **Benchmark Mortgage Trust**  |  |  |
| 2.994% due 04/15/2054 ~  | 8809 | 6226 |
| 3.976% due 07/15/2051  | 1258 | 1249 |
| 4.377% due 05/15/2053  | 8217 | 8207 |
| **BINOM Securitization Trust** <br>4.441% due 08/25/2057 ~ | 6449 | 6328 |
| **BX Commercial Mortgage Trust**  |  |  |
| 4.553% due 10/15/2038 •  | 74 | 74 |
| 4.714% due 11/15/2038 •  | 10359 | 10355 |
| 4.740% due 01/17/2039 •  | 9600 | 9597 |
| 4.763% due 02/15/2039 •  | 355 | 355 |
| **BX Trust**  |  |  |
| 3.202% due 12/09/2041  | 2726 | 2590 |
| 4.665% due 02/15/2036 •  | 4152 | 4151 |
| **Cascade Funding Mortgage Trust**  |  |  |
| 3.000% due 03/25/2035 ~  | 2945 | 2895 |
| 4.000% due 10/25/2054 ~  | 4905 | 4815 |
| **Chase Home Lending Mortgage Trust**  |  |  |
| 3.250% due 03/25/2063 ~  | 6106 | 5531 |
| 3.250% due 09/25/2063 ~  | 5643 | 5100 |
| 3.250% due 03/25/2064 ~  | 3541 | 3177 |
| 3.250% due 08/25/2064 ~  | 2676 | 2391 |
| 3.250% due 09/25/2064 ~  | 43797 | 39204 |
| 3.375% due 12/25/2064 ~  | 9358 | 8391 |
| 3.375% due 04/25/2065 ~  | 2788 | 2525 |
| 3.500% due 06/25/2062 ~  | 3160 | 2927 |
| 5.124% due 09/25/2055 •  | 2823 | 2820 |
| **Chase Mortgage Finance Trust** <br>4.348% due 12/25/2035 ~ | 424 | 371 |
| **Chevy Chase Funding LLC Mortgage-Backed Certificates**  |  |  |
| 4.193% due 01/25/2035 ~  | 194 | 183 |
| 4.812% due 03/25/2035 ~  | 544 | 463 |
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 3.857% due 07/19/2033 ~  | 43 | 41 |
| 4.326% due 03/25/2036 •  | 7926 | 7533 |
| 4.346% due 03/25/2036 •  | 4969 | 4666 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.377% due 05/19/2033 ~  | 6 | 5 |
| 4.426% due 04/25/2035 •  | 2 | 2 |
| 4.446% due 03/25/2035 •  | 23 | 12 |
| 4.466% due 03/25/2035 •  | 16 | 15 |
| 4.482% due 07/19/2033 ~  | 769 | 707 |
| 4.486% due 03/25/2035 •  | 1580 | 1515 |
| 4.491% due 04/25/2035 ~  | 264 | 244 |
| 4.526% due 02/25/2035 •  | 35 | 33 |
| 4.546% due 02/25/2035 •  | 265 | 245 |
| 4.546% due 05/25/2035 •  | 1098 | 904 |
| 4.626% due 02/25/2035 •  | 51 | 48 |
| 4.734% due 01/20/2035 ~  | 1653 | 1558 |
| 4.766% due 09/25/2034 •  | 108 | 95 |
| 4.796% due 11/25/2034 ~  | 1031 | 663 |
| 4.860% due 01/25/2036 ~  | 15 | 14 |
| 4.929% due 03/20/2036 ~  | 3015 | 2730 |
| 4.985% due 02/20/2036 ~  | 109 | 100 |
| 4.986% due 06/20/2036 ~  | 552 | 495 |
| 5.063% due 05/20/2035 ~  | 1414 | 1239 |
| 5.087% due 02/20/2035 ~  | 13 | 13 |
| 5.421% due 12/19/2033 ~  | 58 | 57 |
| 5.500% due 06/25/2034  | 1506 | 1207 |
| 5.500% due 06/25/2035  | 3486 | 1843 |
| 5.500% due 05/25/2036  | 966 | 846 |
| 5.750% due 12/25/2035  | 962 | 447 |
| 5.750% due 02/25/2036  | 3345 | 1425 |
| 5.875% due 06/19/2031 ~  | 1 | 1 |
| 6.000% due 03/25/2037  | 3064 | 1325 |
| 6.000% due 11/25/2037  | 68 | 29 |
| 6.077% due 02/19/2034 ~  | 4 | 4 |
| 6.148% due 02/20/2036 •  | 594 | 561 |
| 6.170% due 06/20/2034 ~  | 1117 | 1051 |
| 6.224% due 02/20/2036 •  | 24 | 21 |
| 6.622% due 02/19/2034 ~  | 5 | 5 |
| 6.741% due 02/25/2034 ~  | 5 | 5 |
| **CIM Trust**  |  |  |
| 3.000% due 01/25/2061 ~  | 2696 | 2531 |
| 3.250% due 10/25/2058 ~  | 1002 | 925 |
| 3.750% due 12/25/2061 ~  | 8822 | 8445 |
| 4.500% due 01/25/2063 ~  | 3834 | 3739 |
| 5.000% due 05/25/2062 ~  | 1256 | 1256 |
| 5.000% due 02/25/2099 þ  | 2421 | 2415 |
| 5.500% due 08/25/2064 ~  | 17967 | 18174 |
| 6.639% due 12/25/2067 þ  | 1129 | 1135 |
| **Citicorp Mortgage Securities REMICS Pass-Through Certificates Trust** <br>5.309% due 08/25/2035 ~ | 1427 | 928 |
| **Citicorp Mortgage Securities Trust** <br>6.000% due 08/25/2036 | 442 | 410 |
| **Citigroup Commercial Mortgage Trust** <br>3.209% due 05/10/2049 | 700 | 697 |
| **Citigroup Mortgage Loan Trust** <br>3.375% due 10/25/2062 þ | 6865 | 6488 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 3.976% due 06/25/2036 •  | 401 | 385 |
| 4.176% due 12/25/2034 •  | 43 | 41 |
| 4.243% due 11/25/2036 ~  | 877 | 822 |
| 4.346% due 09/25/2036 •  | 1845 | 1767 |
| 4.646% due 08/25/2035 •  | 477 | 466 |
| 5.395% due 08/25/2035 ~  | 50 | 47 |
| 5.721% due 11/25/2036 •  | 1957 | 2007 |
| 5.840% due 09/25/2035 •  | 38 | 37 |
| 6.040% due 11/25/2035 •  | 182 | 181 |
| 6.121% due 05/25/2042 ~  | 451 | 442 |
| 6.480% due 10/25/2035 •  | 7 | 7 |
| 6.490% due 05/25/2035 •  | 9 | 9 |
| 6.603% due 12/25/2034 ~  | 13 | 13 |
| **CitiMortgage Alternative Loan Trust** <br>6.500% due 06/25/2037 | 755 | 716 |
| **CLNY Trust** <br>5.278% due 11/15/2038 •  | 3606 | 3556 |
| **COLT Mortgage Loan Trust**  |  |  |
| 6.393% due 06/25/2069 þ  | 1779 | 1804 |
| 6.421% due 05/25/2069 þ  | 736 | 747 |
| **COMM Mortgage Trust** <br>3.545% due 02/10/2036 | 3800 | 3778 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 3.463% due 08/25/2035 ~  | 1576 | 1497 |
| 4.028% due 02/20/2047 •  | 1073 | 882 |
| 4.043% due 12/20/2046 •  | 4848 | 4363 |
| 4.146% due 10/25/2035 •  | 1960 | 616 |
| 4.166% due 02/25/2047 •  | 4088 | 3852 |
| 4.226% due 07/25/2046 •  | 6807 | 6271 |
| 4.226% due 09/25/2046 •  | 167 | 165 |
| 4.246% due 06/25/2037 •  | 690 | 646 |
| 4.248% due 07/20/2046 •  | 335 | 294 |
| 4.266% due 06/25/2046 •  | 940 | 792 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.268% due 03/20/2046 •  | 175 | 166 |
| 4.346% due 05/25/2035 •  | 152 | 136 |
| 4.346% due 06/25/2035 •  | 1083 | 1032 |
| 4.386% due 02/25/2036 •  | 58 | 51 |
| 4.406% due 12/25/2035 •  | 306 | 292 |
| 4.426% due 02/25/2036 •  | 164 | 155 |
| 4.488% due 11/20/2035 •  | 91 | 88 |
| 4.506% due 10/25/2035 •  | 2457 | 1645 |
| 4.546% due 01/25/2046 •  | 739 | 746 |
| 4.606% due 12/25/2035 •  | 4158 | 3741 |
| 4.869% due 03/25/2047 •  | 1484 | 1308 |
| 5.021% due 05/25/2035 ~  | 84 | 73 |
| 5.029% due 02/25/2036 •  | 388 | 360 |
| 5.087% due 02/25/2036 ~  | 1094 | 1018 |
| 5.204% due 12/25/2034 ~  | 1270 | 1236 |
| 5.279% due 11/25/2047 •  | 2439 | 2203 |
| 5.386% due 11/25/2035 •  | 1392 | 1293 |
| 5.409% due 11/25/2047 •  | 4449 | 4017 |
| 5.500% due 04/25/2035  | 764 | 524 |
| 5.500% due 11/25/2035  | 697 | 372 |
| 5.500% due 03/25/2036  | 61 | 25 |
| 5.750% due 03/25/2037 •  | 235 | 118 |
| 5.750% due 04/25/2047  | 338 | 171 |
| 6.000% due 03/25/2037  | 813 | 380 |
| 6.000% due 04/25/2037  | 2965 | 1490 |
| 6.250% due 12/25/2033  | 10 | 10 |
| 6.250% due 07/25/2036  | 3616 | 865 |
| 6.500% due 11/25/2031  | 12 | 13 |
| 6.500% due 06/25/2036  | 3220 | 1442 |
| 7.000% due 10/25/2035  | 3000 | 1488 |
| **Countrywide Alternative Loan Trust Resecuritization** <br>6.000% due 08/25/2037 ~ | 359 | 162 |
| **Credit Suisse First Boston Mortgage Securities Corp.**  |  |  |
| 2.608% due 12/25/2032 ~  | 26 | 20 |
| 4.510% due 12/25/2033 ~  | 74 | 73 |
| 4.868% due 03/25/2032 ~  | 45 | 44 |
| 4.996% due 09/25/2034 •  | 185 | 372 |
| 5.642% due 06/25/2033 ~  | 79 | 77 |
| 5.750% due 04/25/2033  | 3 | 4 |
| 5.846% due 03/25/2034 •  | 1053 | 742 |
| 6.250% due 07/25/2035  | 98 | 102 |
| 6.320% due 08/25/2033 ~  | 709 | 661 |
| 7.000% due 02/25/2033  | 7 | 7 |
| **Cross Mortgage Trust**  |  |  |
| 5.003% due 11/25/2070 ~  | 965 | 968 |
| 5.036% due 11/25/2070 ~  | 3781 | 3793 |
| 5.129% due 09/25/2069 ~  | 5888 | 5900 |
| 5.549% due 12/25/2069 ~  | 853 | 860 |
| 6.093% due 04/25/2069 þ  | 1991 | 2011 |
| 6.147% due 07/25/2069 þ  | 17056 | 17266 |
| 6.272% due 06/25/2069 þ  | 2398 | 2427 |
| 6.615% due 03/25/2068 þ  | 1184 | 1190 |
| **CSFB Mortgage-Backed Pass-Through Certificates**  |  |  |
| 5.500% due 11/25/2035  | 116 | 82 |
| 6.543% due 10/25/2033 ~  | 1140 | 1042 |
| 6.978% due 10/25/2033 ~  | 20 | 19 |
| **CSFB Mortgage-Backed Trust** <br>5.046% due 10/25/2034 •  | 1579 | 1550 |
| **CSMC Mortgage-Backed Trust**  |  |  |
| 5.500% due 04/25/2036  | 413 | 254 |
| 6.421% due 10/25/2037 ~  | 170 | 97 |
| **CSMC Trust**  |  |  |
| 2.000% due 01/25/2060 ~  | 5280 | 4720 |
| 2.000% due 10/25/2060 ~  | 5254 | 4803 |
| 2.750% due 01/25/2060  | 9795 | 7538 |
| 2.750% due 01/25/2060 ~  | 5626 | 4316 |
| 2.974% due 07/25/2057 ~  | 1000 | 868 |
| 3.250% due 01/25/2060  | 7373 | 5610 |
| 3.250% due 01/25/2060 ~  | 3775 | 2822 |
| 3.375% due 01/25/2060  | 1000 | 829 |
| 3.537% due 01/25/2060 ~  | 3343 | 2292 |
| 3.840% due 04/28/2037 ~  | 205 | 191 |
| 3.874% due 02/25/2061 ~  | 4369 | 4356 |
| 3.904% due 04/25/2062 ~  | 4715 | 4545 |
| 3.944% due 09/25/2057 ~  | 1300 | 1238 |
| 4.215% due 07/27/2061 ~  | 7862 | 7836 |
| 4.304% due 02/27/2036 ~  | 3655 | 2272 |
| 5.715% due 10/15/2037 •  | 1000 | 998 |
| 5.750% due 12/26/2035  | 157 | 89 |
| 6.250% due 05/26/2048  | 5715 | 4833 |
| **DC Commercial Mortgage Trust** <br>6.314% due 09/12/2040 | 1200 | 1237 |
| **DC Office Trust** <br>2.965% due 09/15/2045 | 2205 | 2004 |
| **Deephaven Residential Mortgage Trust**  |  |  |
| 4.300% due 03/25/2067 ~  | 1372 | 1344 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.087% due 11/25/2060 þ  | 986 | 988 |
| **Deutsche Alt-A Securities, Inc. Mortgage Loan Trust**  |  |  |
| 4.206% due 01/25/2047 •  | 3288 | 3103 |
| 4.486% due 08/25/2047 •  | 4094 | 3085 |
| **DSLA Mortgage Loan Trust**  |  |  |
| 4.446% due 08/19/2045 •  | 324 | 206 |
| 4.969% due 04/19/2046 •  | 213 | 174 |
| **Ellington Financial Mortgage Trust**  |  |  |
| 5.100% due 10/25/2070 þ  | 1717 | 1723 |
| 5.522% due 01/26/2060 þ  | 822 | 828 |
| 5.655% due 02/25/2060 þ  | 1568 | 1587 |
| 5.726% due 01/25/2060 þ  | 958 | 970 |
| **Finance of America HECM Buyout** <br>4.500% due 11/25/2028 ~ | 1591 | 1586 |
| **First Horizon Alternative Mortgage Securities Trust**  |  |  |
| 3.000% due 04/25/2036 ~  | 375 | 346 |
| 4.585% due 09/25/2035 ~  | 427 | 179 |
| 4.636% due 03/25/2035 ~  | 72 | 40 |
| 4.667% due 02/25/2037 ~  | 1010 | 682 |
| 5.040% due 09/25/2034 ~  | 146 | 148 |
| 5.176% due 07/25/2035 ~  | 2156 | 2032 |
| 5.395% due 12/25/2035 ~  | 336 | 251 |
| 5.695% due 06/25/2034 ~  | 469 | 469 |
| **First Horizon Asset Securities, Inc.**  |  |  |
| 4.738% due 01/25/2036 ~  | 369 | 336 |
| 4.815% due 01/25/2036 ~  | 1392 | 695 |
| **First Horizon Mortgage Pass-Through Trust** <br>4.697% due 10/25/2035 ~ | 1053 | 957 |
| **GCAT Trust**  |  |  |
| 3.450% due 10/25/2068 ~  | 1500 | 1423 |
| 4.250% due 05/25/2067 ~  | 14257 | 13639 |
| 6.007% due 01/25/2059 þ  | 704 | 710 |
| 6.085% due 06/25/2059 þ  | 1054 | 1066 |
| **GMACM Mortgage Loan Trust**  |  |  |
| 0.000% due 05/25/2035 ~  | 688 | 644 |
| 4.636% due 09/19/2035 ~  | 755 | 598 |
| **GreenPoint Mortgage Funding Trust**  |  |  |
| 4.266% due 04/25/2036 •  | 81 | 74 |
| 4.731% due 07/25/2035 •  | 5069 | 4897 |
| **GreenPoint MTA Trust** <br>4.306% due 06/25/2045 •  | 6139 | 4922 |
| **GS Mortgage Securities Corp. Trust**  |  |  |
| 3.104% due 05/10/2034  | 15900 | 10382 |
| 5.120% due 12/15/2036 •  | 3732 | 3733 |
| **GS Mortgage-Backed Securities Corp. Trust** <br>2.000% due 12/25/2060 ~ | 1100 | 948 |
| **GS Mortgage-Backed Securities Trust**  |  |  |
| 3.750% due 07/25/2061 ~  | 2060 | 2024 |
| 4.100% due 07/25/2065 þ  | 4717 | 4618 |
| 5.013% due 07/25/2065 þ  | 1505 | 1508 |
| **GSAA Trust** <br>5.986% due 11/25/2033 þ | 392 | 362 |
| **GSC Capital Corp. Mortgage Trust** <br>4.206% due 05/25/2036 •  | 585 | 575 |
| **GSMPS Mortgage Loan Trust**  |  |  |
| 4.196% due 09/25/2035 •  | 12891 | 11106 |
| 4.196% due 01/25/2036 •  | 16248 | 13156 |
| 7.000% due 06/25/2043  | 282 | 298 |
| 8.000% due 09/19/2027 ~  | 133 | 131 |
| **GSMSC Resecuritization Trust** <br>3.468% due 11/26/2037 | 10869 | 10352 |
| **GSR Mortgage Loan Trust**  |  |  |
| 3.971% due 05/25/2037 •  | 1963 | 882 |
| 4.346% due 07/25/2035 •  | 279 | 251 |
| 4.521% due 01/25/2036 ~  | 86 | 81 |
| 4.568% due 06/25/2034 ~  | 550 | 493 |
| 4.742% due 12/25/2034 ~  | 966 | 115 |
| 5.223% due 04/25/2035 ~  | 227 | 215 |
| 5.743% due 09/25/2035 ~  | 2382 | 2013 |
| 6.000% due 03/25/2032  | 4 | 5 |
| 6.117% due 09/25/2035 ~  | 1 | 1 |
| 6.371% due 01/25/2034 ~  | 866 | 664 |
| 6.559% due 04/25/2035 ~  | 169 | 166 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 4.226% due 01/19/2038 •  | 17959 | 16088 |
| 4.226% due 02/19/2046 •  | 140 | 132 |
| 4.256% due 12/19/2036 •  | 876 | 715 |
| 4.286% due 05/19/2035 •  | 469 | 457 |
| 4.302% due 06/19/2036 ~  | 684 | 274 |
| 4.326% due 06/19/2035 •  | 2348 | 2315 |
| 4.326% due 01/19/2036 •  | 12 | 12 |
| 4.326% due 03/19/2036 •  | 4764 | 4471 |
| 4.326% due 12/19/2036 •  | 5721 | 5544 |
| 4.546% due 01/19/2035 •  | 9 | 9 |
| 4.748% due 06/20/2035 •  | 106 | 99 |
| 4.806% due 06/19/2045 •  | 212 | 94 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.246% due 08/19/2034 ~  | 601 | 432 |
| 5.328% due 11/19/2034 ~  | 3 | 3 |
| 5.385% due 08/19/2034 ~  | 37 | 34 |
| 5.573% due 06/20/2035 •  | 2088 | 1693 |
| **Hilton USA Trust**  |  |  |
| 2.828% due 11/05/2035  | 6500 | 5636 |
| 3.719% due 11/05/2038  | 1000 | 993 |
| **HomeBanc Mortgage Trust**  |  |  |
| 4.536% due 03/25/2035 •  | 99 | 86 |
| 4.581% due 10/25/2035 •  | 5411 | 5427 |
| **HSI Asset Loan Obligation Trust** <br>6.000% due 09/25/2037 | 1132 | 368 |
| **Impac Secured Assets CMN Owner Trust**  |  |  |
| 4.116% due 07/25/2035 •  | 829 | 523 |
| 4.156% due 07/25/2035 •  | 784 | 500 |
| 5.403% due 03/25/2034 þ  | 317 | 299 |
| 6.220% due 07/25/2035 ~  | 1170 | 716 |
| **Impac Secured Assets Trust**  |  |  |
| 4.066% due 05/25/2037 •  | 3064 | 2605 |
| 4.546% due 05/25/2036 •  | 10 | 10 |
| **IndyMac INDA Mortgage Loan Trust**  |  |  |
| 3.197% due 11/25/2035 ~  | 1309 | 987 |
| 5.256% due 01/25/2036 ~  | 298 | 280 |
| **IndyMac INDX Mortgage Loan Trust**  |  |  |
| 2.834% due 06/25/2036 ~  | 398 | 325 |
| 3.363% due 06/25/2035 ~  | 2632 | 2063 |
| 3.395% due 06/25/2036 ~  | 2528 | 1971 |
| 3.396% due 06/25/2036 ~  | 674 | 583 |
| 3.405% due 06/25/2036 ~  | 1477 | 892 |
| 3.538% due 02/25/2036 ~  | 2798 | 1985 |
| 3.606% due 02/25/2036 ~  | 1908 | 1487 |
| 3.688% due 05/25/2035 ~  | 1186 | 1051 |
| 3.815% due 07/25/2035 ~  | 749 | 694 |
| 4.050% due 01/25/2036 ~  | 2894 | 2628 |
| 4.067% due 06/25/2034 ~(a)  | 1167 | 956 |
| 4.086% due 07/25/2036 •  | 11362 | 11350 |
| 4.146% due 06/25/2037 •  | 101 | 33 |
| 4.186% due 11/25/2036 •  | 141 | 143 |
| 4.206% due 07/25/2037 •  | 4938 | 4641 |
| 4.206% due 08/25/2037 •  | 2704 | 2533 |
| 4.226% due 09/25/2046 •  | 290 | 271 |
| 4.326% due 04/25/2035 •  | 76 | 63 |
| 4.405% due 09/25/2035 ~  | 7095 | 4727 |
| 4.486% due 02/25/2035 •  | 394 | 372 |
| 4.486% due 07/25/2045 •  | 2562 | 1963 |
| 4.520% due 07/25/2037 ~  | 2476 | 1019 |
| 4.586% due 07/25/2045 •  | 529 | 389 |
| 4.646% due 11/25/2034 •  | 1811 | 1700 |
| 5.066% due 09/25/2034 •  | 54 | 44 |
| **IndyMac Residential Mortgage-Backed Trust** <br>4.286% due 01/25/2049 •  | 14 | 11 |
| **JP Morgan Alternative Loan Trust**  |  |  |
| 4.326% due 07/25/2036 •  | 11626 | 10940 |
| 4.326% due 11/25/2036 •  | 2824 | 2447 |
| 4.406% due 06/25/2037 •  | 30133 | 10978 |
| 4.487% due 06/27/2037 •  | 945 | 551 |
| 5.259% due 06/27/2037 ~  | 13527 | 6363 |
| **JP Morgan Chase Commercial Mortgage Securities Trust**  |  |  |
| 2.287% due 03/05/2042  | 19000 | 17892 |
| 3.648% due 12/15/2049 ~  | 300 | 298 |
| 4.549% due 07/05/2033  | 23176 | 19323 |
| 4.848% due 02/15/2035 •  | 5681 | 5635 |
| 5.007% due 07/05/2033 •  | 510 | 499 |
| 5.248% due 12/15/2031 •  | 413 | 413 |
| 5.307% due 07/05/2033 •  | 3239 | 2839 |
| **JP Morgan Mortgage Trust**  |  |  |
| 0.000% due 04/25/2037 ~  | 412 | 215 |
| 4.321% due 10/25/2036 ~  | 1064 | 594 |
| 4.326% due 08/25/2037 •  | 2354 | 717 |
| 4.625% due 07/25/2063 ~  | 1130 | 1118 |
| 4.954% due 03/25/2066 ~  | 977 | 978 |
| 5.000% due 07/25/2036  | 208 | 75 |
| 5.080% due 10/25/2035 ~  | 21 | 14 |
| 5.124% due 03/25/2055 •  | 3846 | 3841 |
| 5.224% due 02/25/2055 •  | 2526 | 2532 |
| 5.250% due 11/25/2063 ~  | 739 | 743 |
| 5.391% due 10/25/2035 ~  | 161 | 152 |
| 5.561% due 09/25/2055 þ  | 3170 | 3184 |
| 5.567% due 09/25/2065 ~  | 914 | 923 |
| 5.825% due 06/25/2035 ~  | 731 | 596 |
| 5.968% due 06/25/2035 ~  | 37 | 30 |
| 5.990% due 07/25/2064 ~  | 1447 | 1462 |
| 6.372% due 08/25/2034 ~  | 732 | 710 |
| 7.700% due 08/25/2036  | 32 | 12 |
| **JP Morgan Seasoned Mortgage Trust**  |  |  |
| 3.688% due 01/25/2063 ~  | 3713 | 3501 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.377% due 01/25/2063 ~  | 897 | 864 |
| **Legacy Mortgage Asset Trust**  |  |  |
| 5.650% due 11/25/2060 þ  | 1516 | 1518 |
| 5.750% due 07/25/2061 þ  | 6642 | 6647 |
| 5.892% due 10/25/2066 þ  | 1618 | 1619 |
| 6.250% due 07/25/2067 þ  | 1700 | 1703 |
| **Lehman Mortgage Trust** <br>5.500% due 02/25/2036 | 200 | 93 |
| **Lehman XS Trust**  |  |  |
| 4.206% due 11/25/2035 •  | 3030 | 3032 |
| 4.386% due 12/25/2035 •  | 2395 | 2282 |
| **Luminent Mortgage Trust** <br>4.266% due 05/25/2036 •  | 1409 | 1274 |
| **LUX** <br>6.441% due 08/15/2040 •  | 2800 | 2833 |
| **Manhattan West Mortgage Trust** <br>2.130% due 09/10/2039 | 3400 | 3273 |
| **MASTR Adjustable Rate Mortgages Trust**  |  |  |
| 3.621% due 07/25/2034 ~  | 609 | 549 |
| 4.146% due 03/25/2047 •  | 4780 | 4432 |
| 4.176% due 12/25/2034 •  | 168 | 159 |
| 4.357% due 02/25/2034 ~  | 1028 | 899 |
| 4.882% due 05/25/2034 ~  | 799 | 494 |
| 4.946% due 09/25/2037 •  | 3218 | 1244 |
| 5.699% due 07/25/2035 ~  | 8634 | 4157 |
| 6.125% due 12/25/2033 ~  | 3 | 3 |
| 6.210% due 12/21/2034 ~  | 25 | 24 |
| **MASTR Alternative Loan Trust**  |  |  |
| 5.500% due 04/25/2035  | 506 | 462 |
| 6.183% due 06/25/2033 ~  | 195 | 126 |
| **MASTR Asset Securitization Trust** <br>5.500% due 03/25/2034 | 540 | 430 |
| **MASTR Seasoned Securitization Trust** <br>6.500% due 08/25/2032 | 1796 | 250 |
| **Mellon Residential Funding Corp. Mortgage Pass-Through Certificates** <br>4.565% due 11/15/2031 •  | 11 | 11 |
| **Merrill Lynch Alternative Note Asset Trust** <br>5.750% due 05/25/2037 | 77 | 74 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 4.466% due 08/25/2028 •  | 1 | 1 |
| 4.486% due 10/25/2028 •  | 24 | 23 |
| 4.506% due 06/25/2028 •  | 1 | 1 |
| 4.566% due 08/25/2035 •  | 11507 | 10798 |
| 4.586% due 03/25/2028 •  | 1 | 1 |
| 5.011% due 04/25/2035 ~  | 5 | 4 |
| 5.046% due 03/25/2028 •  | 122 | 89 |
| 5.190% due 09/25/2029 •  | 396 | 389 |
| 5.199% due 05/25/2036 ~  | 211 | 199 |
| 5.286% due 11/25/2035 •  | 2537 | 2479 |
| 5.918% due 05/25/2036 ~  | 4248 | 3839 |
| **MFA Trust**  |  |  |
| 1.947% due 04/25/2065 ~  | 164 | 161 |
| 2.855% due 07/25/2060 ~  | 500 | 421 |
| 3.300% due 08/25/2061 ~  | 7137 | 6747 |
| 4.400% due 03/25/2068 þ  | 4591 | 4562 |
| 6.105% due 12/25/2068 þ  | 12530 | 12640 |
| 6.775% due 10/25/2058 þ  | 1451 | 1467 |
| **Mill City Mortgage Loan Trust**  |  |  |
| 1.850% due 11/25/2060 ~  | 8550 | 7831 |
| 2.500% due 11/25/2060 ~  | 5358 | 4663 |
| 3.250% due 01/25/2061 ~  | 97 | 83 |
| 3.849% due 11/25/2058 ~  | 1000 | 857 |
| **Mill City Mortgage Trust** <br>3.686% due 09/25/2057 ~ | 47 | 47 |
| **Morgan Stanley Capital I Trust** <br>4.865% due 05/15/2036 •  | 5347 | 762 |
| **Morgan Stanley Mortgage Loan Trust**  |  |  |
| 0.000% due 11/25/2037 ~  | 1364 | 109 |
| 3.386% due 10/25/2037 ~  | 2311 | 1303 |
| 4.096% due 03/25/2036 •  | 1893 | 1219 |
| 4.106% due 03/25/2036 •  | 7444 | 4798 |
| 4.746% due 02/25/2036 •  | 172 | 163 |
| 5.347% due 10/25/2034 ~  | 11 | 11 |
| **Morgan Stanley Resecuritization Trust** <br>3.154% due 06/26/2047 •  | 10954 | 9906 |
| **Morgan Stanley Residential Mortgage Loan Trust**  |  |  |
| 4.000% due 06/25/2064 þ  | 2018 | 1980 |
| 4.963% due 09/25/2070 ~  | 3002 | 3006 |
| 5.016% due 09/25/2070 ~  | 1569 | 1573 |
| 5.021% due 11/25/2070 þ  | 2900 | 2910 |
| 5.530% due 05/25/2070 ~  | 861 | 868 |
| **MTN Commercial Mortgage Trust** <br>5.157% due 03/15/2039 •  | 6165 | 6164 |
| **NAAC Reperforming Loan REMICS Trust** <br>7.500% due 03/25/2034 | 262 | 248 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **New Residential Mortgage Loan Trust**  |  |  |
| 2.750% due 07/25/2059 ~  | 11959 | 11608 |
| 3.000% due 07/25/2059 ~  | 1000 | 933 |
| 3.250% due 02/25/2059 ~  | 5077 | 4975 |
| 3.500% due 12/25/2057 ~  | 306 | 299 |
| 4.000% due 02/25/2057 ~  | 13437 | 13141 |
| 4.500% due 05/25/2058 ~  | 459 | 450 |
| 5.085% due 10/25/2065 ~  | 981 | 985 |
| **NLT Trust** <br>3.200% due 10/25/2062 ~ | 10619 | 9803 |
| **Nomura Asset Acceptance Corp. Alternative Loan Trust**  |  |  |
| 4.946% due 08/25/2034 •  | 590 | 714 |
| 5.754% due 10/25/2034 þ  | 6224 | 6189 |
| 6.159% due 05/25/2036 ~  | 200 | 36 |
| **NYMT Loan Trust**  |  |  |
| 3.215% due 07/25/2061  | 250 | 219 |
| 3.514% due 07/25/2061  | 2000 | 1728 |
| 3.750% due 02/25/2068 ~  | 1232 | 1152 |
| 3.750% due 11/25/2069 ~  | 3811 | 3684 |
| 5.379% due 06/25/2069 ~  | 1011 | 1018 |
| **NYO Commercial Mortgage Trust** <br>4.960% due 11/15/2038 •  | 4365 | 4362 |
| **OBX Trust**  |  |  |
| 3.637% due 03/25/2053 ~  | 2996 | 2991 |
| 3.695% due 04/25/2053 ~  | 4594 | 4559 |
| 4.940% due 09/25/2062 þ  | 5109 | 5105 |
| 5.110% due 08/25/2062 þ  | 1134 | 1134 |
| 5.949% due 02/25/2063 þ  | 4797 | 4799 |
| 6.030% due 01/25/2064 þ  | 1643 | 1666 |
| 6.113% due 03/25/2063 þ  | 2261 | 2265 |
| 6.233% due 05/25/2064 þ  | 1173 | 1188 |
| 6.465% due 10/25/2063 þ  | 1735 | 1753 |
| 6.520% due 07/25/2063 þ  | 1194 | 1200 |
| 6.567% due 06/25/2063 þ  | 1978 | 1990 |
| 6.844% due 04/25/2063 þ  | 981 | 990 |
| 7.045% due 09/25/2063 þ  | 1510 | 1527 |
| 7.159% due 10/25/2063 þ  | 2415 | 2446 |
| **Oceanview Mortgage Trust** <br>4.674% due 11/25/2054 •  | 1154 | 1156 |
| **One Market Plaza Trust** <br>3.614% due 02/10/2032 | 2337 | 2235 |
| **ONE Mortgage Trust** <br>4.564% due 03/15/2036 •  | 2600 | 2594 |
| **One New York Plaza Trust** <br>4.815% due 01/15/2036 •  | 9700 | 9516 |
| **PRET LLC** <br>5.249% due 10/25/2055 | 3068 | 3070 |
| **PRET Trust**  |  |  |
| 3.900% due 10/25/2063 ~  | 933 | 906 |
| 4.000% due 08/25/2064 þ  | 928 | 908 |
| 4.000% due 03/25/2065 þ  | 10081 | 9904 |
| 4.000% due 07/25/2069 þ  | 916 | 898 |
| 4.075% due 06/25/2064 ~  | 871 | 841 |
| 4.150% due 04/25/2065 þ  | 2936 | 2877 |
| **Prime Mortgage Trust**  |  |  |
| 3.720% due 10/25/2032 ~  | 405 | 357 |
| 5.250% due 06/25/2033  | 249 | 232 |
| **PRKCM Trust**  |  |  |
| 5.101% due 10/25/2060 þ  | 985 | 987 |
| 6.333% due 03/25/2059 þ  | 1101 | 1113 |
| 6.431% due 05/25/2059 þ  | 637 | 645 |
| 6.584% due 09/25/2058 þ  | 1617 | 1627 |
| 7.225% due 11/25/2058 þ  | 876 | 887 |
| **PRPM LLC**  |  |  |
| 3.750% due 03/25/2054 þ  | 751 | 740 |
| 3.750% due 04/25/2055 þ  | 1221 | 1194 |
| 4.000% due 11/25/2053 þ  | 330 | 328 |
| 4.000% due 01/25/2054 þ  | 729 | 721 |
| 4.000% due 05/25/2054 þ  | 647 | 641 |
| 4.000% due 07/25/2054 þ  | 677 | 671 |
| 4.000% due 11/25/2054 þ  | 1749 | 1717 |
| 4.000% due 10/25/2064 þ  | 5065 | 4991 |
| 4.200% due 12/25/2064 þ  | 810 | 802 |
| 4.500% due 02/25/2055 þ  | 845 | 842 |
| 4.500% due 08/25/2055 þ  | 1256 | 1247 |
| 4.500% due 06/25/2065 «þ  | 9900 | 9756 |
| 4.839% due 10/25/2055 þ  | 957 | 959 |
| 4.990% due 12/25/2055 þ  | 2500 | 2500 |
| 5.250% due 07/25/2055 þ  | 937 | 946 |
| 5.385% due 10/25/2030 þ  | 933 | 935 |
| 5.503% due 08/25/2030 þ  | 959 | 962 |
| 5.699% due 11/25/2029 þ  | 869 | 870 |
| 5.729% due 07/25/2030 þ  | 960 | 962 |
| 5.774% due 08/25/2028 þ  | 2680 | 2687 |
| 5.870% due 11/25/2029 þ  | 2180 | 2182 |
| 5.897% due 12/25/2029 þ  | 1347 | 1349 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.179% due 06/25/2030 þ  | 2498 | 2504 |
| 6.255% due 05/25/2030 þ  | 900 | 902 |
| **PRPM Trust**  |  |  |
| 5.228% due 08/25/2069 þ  | 6749 | 6755 |
| 5.674% due 12/26/2069 þ  | 3488 | 3515 |
| 5.802% due 11/25/2069 þ  | 2578 | 2602 |
| 6.221% due 11/25/2068 þ  | 4835 | 4885 |
| 6.250% due 08/25/2068 þ  | 1585 | 1594 |
| 6.265% due 12/25/2068 þ  | 972 | 984 |
| 6.327% due 06/25/2069 þ  | 15350 | 15555 |
| **RALI Trust**  |  |  |
| 4.206% due 11/25/2036 •  | 5612 | 2817 |
| 4.226% due 07/25/2036 •  | 4577 | 4277 |
| 4.226% due 08/25/2036 •  | 4140 | 4247 |
| 4.226% due 04/25/2046 •  | 881 | 841 |
| 4.246% due 10/25/2046 •  | 4500 | 4401 |
| 4.893% due 02/25/2035 ~  | 413 | 366 |
| 5.007% due 10/25/2037 ~  | 683 | 544 |
| 5.011% due 12/26/2034 ~  | 90 | 45 |
| 5.359% due 09/25/2034 ~  | 2 | 2 |
| 5.451% due 12/25/2035 ~  | 581 | 509 |
| 6.000% due 12/25/2035  | 2172 | 1896 |
| 6.500% due 10/25/2036  | 16403 | 14438 |
| **RCKT Mortgage Trust**  |  |  |
| 5.158% due 10/25/2044 þ  | 2587 | 2597 |
| 5.472% due 06/25/2055 þ  | 5954 | 6016 |
| 5.553% due 03/25/2055 þ  | 3649 | 3689 |
| 5.582% due 12/25/2044 þ  | 3230 | 3266 |
| 5.653% due 01/25/2045 þ  | 3352 | 3388 |
| 5.846% due 08/25/2044 þ  | 33380 | 33732 |
| 6.808% due 09/25/2043 ~  | 457 | 461 |
| **RCO X Mortgage LLC** <br>5.418% due 10/25/2030 þ | 1466 | 1452 |
| **Residential Asset Securitization Trust**  |  |  |
| 4.196% due 10/25/2048 •  | 2 | 2 |
| 4.296% due 02/25/2034 •  | 13 | 12 |
| 4.296% due 04/25/2035 •  | 3169 | 1561 |
| 4.346% due 08/25/2036 •  | 2732 | 824 |
| 6.000% due 08/25/2036  | 6020 | 2510 |
| 6.250% due 08/25/2036  | 1752 | 1229 |
| 6.500% due 04/25/2037  | 4348 | 1159 |
| **RFMSI Trust**  |  |  |
| 3.200% due 02/25/2037 ~  | 196 | 169 |
| 3.628% due 06/25/2035 ~  | 1531 | 844 |
| 5.229% due 09/25/2035 ~  | 4221 | 2357 |
| 5.484% due 02/25/2036 ~  | 61 | 58 |
| 5.941% due 02/25/2036 ~  | 29 | 27 |
| 5.999% due 02/25/2037 ~  | 484 | 429 |
| 6.000% due 04/25/2037  | 75 | 58 |
| 6.147% due 10/25/2037 ~  | 998 | 973 |
| **RiverView HECM Trust** <br>4.020% due 05/25/2047 •  | 1668 | 1454 |
| **SACO I, Inc.** <br>7.000% due 08/25/2036 | 2 | 2 |
| **Santander Mortgage Asset Receivable Trust** <br>5.545% due 01/25/2065 þ | 866 | 873 |
| **Sequoia Mortgage Trust**  |  |  |
| 4.190% due 06/20/2034 ~  | 28 | 27 |
| 4.308% due 02/20/2035 •  | 262 | 252 |
| 4.468% due 11/20/2034 •  | 11 | 11 |
| 4.507% due 11/25/2063 ~  | 5636 | 5657 |
| 4.597% due 01/20/2047 ~  | 228 | 156 |
| 4.678% due 05/20/2034 •  | 111 | 105 |
| 5.061% due 10/25/2055 ~  | 1701 | 1708 |
| 5.239% due 02/20/2034 •  | 32 | 29 |
| 5.581% due 08/20/2034 ~  | 18 | 17 |
| **Sequoia Mortgage Trust 10**  |  |  |
| 4.648% due 10/20/2027 •  | 1 | 1 |
| 5.208% due 10/20/2027 •  | 4 | 4 |
| **Sequoia Mortgage Trust 5** <br>4.546% due 10/19/2026 •  | 8 | 8 |
| **Sequoia Mortgage Trust 9** <br>6.313% due 09/20/2032 ~ | 6 | 6 |
| **SFO Commercial Mortgage Trust** <br>5.014% due 05/15/2038 •  | 1800 | 1797 |
| **SG Residential Mortgage Trust** <br>5.353% due 08/25/2062 þ | 12114 | 12123 |
| **SMRT Commercial Mortgage Trust** <br>4.751% due 01/15/2039 •  | 25570 | 25576 |
| **STARM Mortgage Loan Trust**  |  |  |
| 6.215% due 01/25/2037 ~  | 75 | 51 |
| 6.484% due 01/25/2037 ~  | 752 | 749 |
| **Structured Adjustable Rate Mortgage Loan Trust**  |  |  |
| 3.873% due 05/25/2036 ~  | 2259 | 1266 |
| 4.057% due 02/25/2036 ~  | 50 | 43 |
| 4.226% due 07/25/2037 •  | 4119 | 3948 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.581% due 06/25/2034 •  | 117 | 115 |
| 4.953% due 07/25/2035 ~  | 20 | 18 |
| 5.112% due 09/25/2034 ~  | 252 | 248 |
| 5.429% due 01/25/2035 •  | 262 | 244 |
| 5.429% due 05/25/2035 •  | 306 | 244 |
| 6.088% due 04/25/2034 ~  | 1 | 1 |
| 6.298% due 02/25/2034 ~  | 15 | 15 |
| **Structured Asset Mortgage Investments II Trust**  |  |  |
| 4.146% due 02/25/2037 •  | 659 | 642 |
| 4.226% due 09/25/2047 •  | 6799 | 6327 |
| 4.386% due 08/25/2035 •  | 3285 | 3189 |
| 4.406% due 02/25/2036 •  | 145 | 124 |
| 4.446% due 07/19/2034 •  | 108 | 104 |
| 4.466% due 12/25/2035 •  | 10069 | 8660 |
| 4.546% due 03/19/2034 •  | 54 | 52 |
| **Structured Asset Mortgage Investments Trust**  |  |  |
| 4.686% due 10/19/2033 •  | 29 | 27 |
| 4.746% due 11/19/2033 •  | 604 | 550 |
| 5.046% due 10/19/2033 •  | 599 | 644 |
| **Structured Asset Mortgage Investments, Inc.** <br>6.750% due 05/02/2030 ~ | 63 | 0 |
| **Structured Asset Securities Corp. Mortgage Loan Trust**  |  |  |
| 4.136% due 10/25/2036 •  | 173 | 145 |
| 7.500% due 10/25/2036  | 997 | 559 |
| **TBW Mortgage-Backed Pass-Through Certificates** <br>6.500% due 04/25/2036 | 1260 | 403 |
| **TBW Mortgage-Backed Trust**  |  |  |
| 6.500% due 07/25/2036  | 5765 | 1926 |
| 7.000% due 07/25/2036  | 609 | 0 |
| **Thornburg Mortgage Securities Trust**  |  |  |
| 4.058% due 09/25/2037 ~  | 693 | 688 |
| 4.471% due 09/25/2037 ~  | 14205 | 7861 |
| **Towd Point Mortgage Trust**  |  |  |
| 1.636% due 04/25/2060 ~  | 29244 | 26896 |
| 2.250% due 12/25/2061 ~  | 3980 | 3890 |
| 2.710% due 01/25/2060 ~  | 20642 | 19981 |
| 2.750% due 06/25/2057 ~  | 2651 | 2608 |
| 2.900% due 10/25/2059 ~  | 8330 | 8046 |
| 3.000% due 10/25/2057 ~  | 1000 | 966 |
| 3.250% due 07/25/2056 ~  | 305 | 303 |
| 3.750% due 10/25/2056 ~  | 4183 | 4142 |
| 4.078% due 04/25/2056 ~  | 1000 | 952 |
| 4.578% due 10/27/2064 ~  | 5832 | 5854 |
| 4.606% due 10/25/2064 ~  | 10215 | 10258 |
| 4.846% due 10/25/2059 •  | 243 | 244 |
| 5.033% due 07/25/2065 ~  | 743 | 751 |
| 5.546% due 10/25/2059 •  | 11615 | 11983 |
| 5.725% due 11/25/2064 þ  | 2596 | 2622 |
| **Verus Securitization Trust**  |  |  |
| 0.820% due 10/25/2063 ~  | 524 | 508 |
| 1.057% due 10/25/2063 ~  | 14 | 14 |
| 1.262% due 10/25/2063 ~  | 21 | 21 |
| 4.130% due 02/25/2067 þ  | 6043 | 5826 |
| 4.260% due 02/25/2067 þ  | 1209 | 1165 |
| 4.858% due 12/25/2070 þ  | 4300 | 4309 |
| 5.086% due 07/25/2067 ~  | 3300 | 3311 |
| 5.218% due 09/25/2069 ~  | 12234 | 12257 |
| 5.402% due 05/25/2065 þ  | 2674 | 2695 |
| 5.799% due 07/25/2069 þ  | 11936 | 12045 |
| 5.811% due 05/25/2068 þ  | 1638 | 1639 |
| 5.999% due 02/25/2068 þ  | 777 | 776 |
| 6.116% due 03/25/2069 þ  | 10089 | 10200 |
| 6.192% due 06/25/2069 þ  | 2286 | 2315 |
| 6.218% due 06/25/2069 þ  | 1734 | 1758 |
| 6.338% due 04/25/2069 þ  | 1238 | 1253 |
| 6.443% due 08/25/2068 þ  | 1264 | 1271 |
| 6.476% due 06/25/2068 þ  | 762 | 765 |
| 6.665% due 09/25/2068 þ  | 5728 | 5779 |
| 6.876% due 11/25/2068 ~  | 659 | 669 |
| 7.070% due 10/25/2068 þ  | 3088 | 3129 |
| **Visio Trust** <br>6.598% due 10/25/2058 þ | 837 | 842 |
| **Wachovia Mortgage Loan Trust LLC** <br>6.708% due 10/20/2035 ~ | 34 | 33 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 2.423% due 11/25/2041 ~  | 2 | 2 |
| 3.873% due 05/25/2037 ~  | 743 | 653 |
| 4.216% due 05/25/2034 •  | 13094 | 12278 |
| 4.386% due 12/25/2045 •  | 3179 | 3204 |
| 4.426% due 07/25/2045 •  | 3394 | 3276 |
| 4.509% due 10/25/2035 ~  | 724 | 664 |
| 4.586% due 11/25/2034 •  | 61 | 60 |
| 4.626% due 10/25/2044 •  | 188 | 186 |
| 4.642% due 09/25/2035 ~  | 2730 | 2596 |
| 4.686% due 06/25/2044 •  | 897 | 907 |
| 4.826% due 11/25/2034 •  | 388 | 380 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.826% due 10/25/2045 •  | 567 | 549 |
| 4.846% due 07/25/2044 •  | 9 | 8 |
| 4.869% due 11/25/2046 •  | 7203 | 6275 |
| 5.029% due 08/25/2046 •  | 3771 | 3505 |
| 5.077% due 08/25/2046 •  | 10280 | 9039 |
| 5.243% due 08/25/2033 ~  | 3 | 3 |
| 5.247% due 07/25/2034 ~  | 391 | 361 |
| 5.362% due 06/25/2034 ~  | 264 | 232 |
| 5.429% due 06/25/2042 •  | 47 | 44 |
| 5.429% due 08/25/2042 •  | 475 | 465 |
| 5.429% due 04/25/2044 •  | 352 | 307 |
| 5.500% due 06/25/2033 ~  | 917 | 776 |
| 5.705% due 06/25/2034 ~  | 105 | 103 |
| 5.778% due 03/25/2033 ~  | 45 | 44 |
| 5.812% due 01/25/2033 ~  | 593 | 591 |
| 5.827% due 10/25/2033 ~  | 64 | 54 |
| **WaMu Mortgage-Backed Pass-Through Certificates** <br>5.917% due 12/19/2039 ~ | 75 | 70 |
| **Washington Mutual Mortgage Pass-Through Certificates Trust**  |  |  |
| 4.496% due 10/25/2035 •  | 282 | 236 |
| 4.779% due 02/25/2047 •  | 10655 | 10121 |
| 4.859% due 11/25/2046 •  | 10960 | 9876 |
| 5.500% due 05/25/2035  | 1077 | 961 |
| 5.500% due 06/25/2035  | 88 | 82 |
| 5.500% due 11/25/2035  | 141 | 127 |
| **Washington Mutual MSC Mortgage Pass-Through Certificates Trust**  |  |  |
| 5.204% due 02/25/2033 ~  | 322 | 307 |
| 5.675% due 12/25/2032 ~  | 76 | 72 |
| 5.750% due 03/25/2033  | 63 | 58 |
| 5.764% due 02/25/2033 ~  | 472 | 502 |
| 5.989% due 12/25/2032 ~  | 68 | 68 |
| 6.283% due 11/25/2030 ~  | 1 | 1 |
| 7.500% due 04/25/2033 ~  | 88 | 24 |
| **Wells Fargo Commercial Mortgage Trust**  |  |  |
| 5.343% due 10/15/2042 •  | 4500 | 4513 |
| 5.393% due 07/15/2037 •  | 3500 | 3510 |
| 5.575% due 09/15/2040 ~  | 1600 | 1617 |
| **Wells Fargo Mortgage Loan Trust** <br>3.898% due 09/27/2036 ~ | 397 | 392 |
| **Wells Fargo Mortgage-Backed Securities Trust** <br>6.290% due 12/25/2036 ~ | 30 | 28 |
| **WSTN Trust** <br>6.297% due 07/05/2037 ~ | 4800 | 4890 |
| Total Non-Agency Mortgage-Backed Securities (Cost $1,712,780) |  | 1655879 |
| **ASSET-BACKED SECURITIES 56.3%**  |  |  |
| **AUTOMOBILE ABS OTHER 0.2%**  |  |  |
| **Ally Bank Auto Credit-Linked Notes**  |  |  |
| 5.117% due 09/15/2032  | 291 | 293 |
| 5.215% due 09/15/2032  | 291 | 293 |
| **CarMax Select Receivables Trust**  |  |  |
| 4.664% due 05/15/2028 •  | 2002 | 2004 |
| 4.714% due 09/15/2027 •  | 1010 | 1010 |
| **Carvana Auto Receivables Trust**  |  |  |
| 2.900% due 03/10/2028  | 415 | 407 |
| 4.550% due 01/10/2028  | 252 | 251 |
| **M&T Bank Auto Receivables Trust** <br>4.484% due 05/15/2028 •  | 11824 | 11832 |
| **Westlake Automobile Receivables Trust** <br>4.644% due 08/16/2027 •  | 312 | 312 |
|  |  | 16402 |
| **AUTOMOBILE SEQUENTIAL 15.0%**  |  |  |
| **Ally Auto Receivables Trust** <br>4.140% due 07/16/2029 | 3479 | 3486 |
| **Ally Bank Auto Credit-Linked Notes** <br>4.970% due 09/15/2032 | 697 | 704 |
| **American Credit Acceptance Receivables Trust**  |  |  |
| 4.730% due 01/12/2029  | 449 | 450 |
| 4.810% due 03/13/2028  | 53 | 53 |
| **American Heritage Auto Receivables Issuer Trust**  |  |  |
| 4.400% due 11/15/2030  | 23000 | 23125 |
| 4.480% due 08/15/2028  | 1600 | 1604 |
| **American Heritage Auto Receivables Trust** <br>4.830% due 03/15/2028 | 398 | 399 |
| **AmeriCredit Automobile Receivables Trust**  |  |  |
| 4.220% due 03/19/2029  | 4000 | 4007 |
| 5.430% due 01/18/2029  | 5887 | 5933 |
| **ARI Fleet Lease Trust** <br>4.380% due 01/17/2034 | 2344 | 2352 |
| **Arivo Acceptance Auto Loan Receivables Trust** <br>4.920% due 05/15/2029 | 500 | 500 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Avis Budget Rental Car Funding AESOP LLC**  |  |  |
| 5.490% due 06/20/2029  | 2800 | 2874 |
| 5.810% due 12/20/2029  | 1000 | 1041 |
| **Bayview Opportunity Master Fund VII Trust** <br>5.660% due 03/15/2028 | 750 | 753 |
| **BMW Vehicle Lease Trust** <br>4.180% due 10/25/2027 | 5300 | 5318 |
| **BofA Auto Trust**  |  |  |
| 4.520% due 11/22/2027  | 10603 | 10622 |
| 5.350% due 11/15/2028  | 1260 | 1273 |
| **Bridgecrest Lending Auto Securitization Trust**  |  |  |
| 4.720% due 09/15/2028  | 1300 | 1303 |
| 4.730% due 02/15/2028  | 1022 | 1024 |
| 4.840% due 09/15/2027  | 124 | 124 |
| 4.840% due 01/18/2028  | 12148 | 12169 |
| 5.340% due 04/17/2028  | 5563 | 5572 |
| **CarMax Auto Owner Trust**  |  |  |
| 4.420% due 08/15/2028  | 22253 | 22312 |
| 4.670% due 12/15/2027  | 977 | 978 |
| 4.750% due 10/15/2027  | 1284 | 1287 |
| 4.920% due 10/16/2028  | 2371 | 2390 |
| 5.280% due 05/15/2028  | 2576 | 2594 |
| 6.000% due 07/17/2028  | 3835 | 3885 |
| **CarMax Select Receivables Trust**  |  |  |
| 4.120% due 03/15/2030  | 24500 | 24575 |
| 4.166% due 10/15/2026  | 9312 | 9315 |
| 4.190% due 03/15/2029  | 5600 | 5608 |
| 4.760% due 05/15/2028  | 2403 | 2408 |
| 5.400% due 11/15/2028  | 6200 | 6258 |
| 5.780% due 09/15/2027  | 1745 | 1749 |
| **Carvana Auto Receivables Trust**  |  |  |
| 4.040% due 11/11/2030  | 50000 | 50159 |
| 4.070% due 02/12/2029  | 9200 | 9203 |
| 4.171% due 10/12/2026  | 617 | 617 |
| 4.260% due 10/10/2029  | 3814 | 3823 |
| 4.310% due 09/10/2030  | 2300 | 2317 |
| 4.500% due 06/12/2028  | 1056 | 1058 |
| 4.530% due 01/10/2029  | 4600 | 4610 |
| 4.550% due 05/10/2030  | 8200 | 8252 |
| 4.560% due 08/10/2028  | 7185 | 7197 |
| 4.620% due 02/10/2028  | 519 | 520 |
| 4.640% due 01/10/2030  | 3000 | 3019 |
| 4.740% due 12/10/2030  | 1800 | 1831 |
| 4.740% due 04/10/2031  | 5400 | 5481 |
| 4.780% due 05/10/2028  | 331 | 332 |
| 4.840% due 12/10/2027  | 151 | 151 |
| 4.910% due 08/10/2029  | 1100 | 1109 |
| 5.050% due 04/10/2029  | 1244 | 1250 |
| 5.080% due 03/11/2030  | 2000 | 2033 |
| 5.210% due 06/10/2030  | 2600 | 2662 |
| 5.330% due 07/10/2029  | 2963 | 2986 |
| 5.620% due 01/10/2029  | 6223 | 6271 |
| 5.710% due 07/10/2028  | 1257 | 1261 |
| 5.710% due 07/10/2029  | 1300 | 1332 |
| 5.740% due 11/13/2029  | 9457 | 9738 |
| 5.820% due 08/10/2028  | 937 | 943 |
| 6.160% due 10/10/2028  | 277 | 280 |
| **Chase Auto Owner Trust**  |  |  |
| 4.180% due 08/27/2029  | 2300 | 2308 |
| 4.400% due 11/26/2027  | 400 | 401 |
| 5.220% due 07/25/2029  | 25000 | 25300 |
| 5.530% due 09/27/2027  | 861 | 862 |
| 5.680% due 01/25/2029  | 2058 | 2080 |
| **Citizens Auto Receivables Trust**  |  |  |
| 5.830% due 02/15/2028  | 11557 | 11636 |
| 5.840% due 01/18/2028  | 1102 | 1108 |
| **Consumer Portfolio Services Auto Trust** <br>4.740% due 02/15/2029 | 2949 | 2957 |
| **CPS Auto Receivables Trust**  |  |  |
| 4.710% due 03/15/2029  | 1986 | 1991 |
| 4.910% due 06/15/2028  | 583 | 584 |
| 5.880% due 02/15/2028  | 1910 | 1912 |
| **Drive Auto Receivables Trust**  |  |  |
| 4.140% due 09/15/2032  | 6900 | 6919 |
| 4.290% due 10/16/2028  | 10800 | 10809 |
| 4.500% due 09/15/2028  | 3000 | 3004 |
| 4.870% due 08/15/2028  | 35483 | 35546 |
| 4.940% due 12/15/2027  | 343 | 343 |
| **Ent Auto Receivables Trust**  |  |  |
| 6.240% due 01/16/2029  | 1209 | 1216 |
| 6.260% due 11/15/2029  | 1000 | 1023 |
| **Enterprise Fleet Financing LLC**  |  |  |
| 4.500% due 04/20/2028  | 15400 | 15483 |
| 4.560% due 11/20/2028  | 2700 | 2729 |
| 4.650% due 10/20/2027  | 1333 | 1339 |
| 4.690% due 07/20/2027  | 1828 | 1834 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.820% due 02/20/2029  | 1500 | 1526 |
| 4.980% due 08/21/2028  | 12600 | 12783 |
| 5.310% due 04/20/2027  | 6657 | 6681 |
| **Exeter Automobile Receivables Trust**  |  |  |
| 4.450% due 03/15/2028  | 853 | 853 |
| 4.530% due 03/15/2028  | 2990 | 2994 |
| 4.780% due 06/15/2027  | 571 | 572 |
| 4.830% due 01/18/2028  | 12370 | 12392 |
| 5.280% due 08/15/2030  | 418 | 419 |
| **Exeter Select Automobile Receivables Trust** <br>4.540% due 06/15/2029 | 681 | 683 |
| **FCCU Auto Receivables Trust**  |  |  |
| 4.870% due 01/16/2029  | 6970 | 6993 |
| 5.460% due 04/15/2030  | 500 | 512 |
| 5.540% due 04/16/2029  | 1200 | 1212 |
| 5.760% due 11/15/2027  | 154 | 154 |
| **FHF Issuer Trust**  |  |  |
| 4.920% due 02/15/2031  | 3008 | 3002 |
| 4.940% due 11/15/2030  | 1034 | 1032 |
| 5.690% due 02/15/2030  | 1087 | 1094 |
| 5.890% due 06/15/2030  | 825 | 830 |
| 6.790% due 10/15/2029  | 697 | 702 |
| **First Investors Auto Owner Trust** <br>6.440% due 10/16/2028 | 434 | 437 |
| **Flagship Credit Auto Trust** <br>5.640% due 03/15/2028 | 784 | 786 |
| **Ford Credit Auto Owner Trust**  |  |  |
| 4.070% due 07/15/2029  | 2900 | 2910 |
| 4.320% due 08/15/2027  | 4292 | 4296 |
| 4.610% due 08/15/2029  | 7050 | 7130 |
| 5.530% due 09/15/2028  | 5507 | 5564 |
| **GLS Auto Receivables Issuer Trust**  |  |  |
| 4.520% due 07/17/2028  | 5700 | 5711 |
| 4.750% due 03/15/2028  | 10567 | 10588 |
| 4.750% due 07/17/2028  | 1000 | 1003 |
| 4.760% due 10/15/2027  | 492 | 493 |
| **GLS Auto Select Receivables Trust**  |  |  |
| 4.430% due 12/17/2029  | 1815 | 1822 |
| 4.460% due 10/15/2030  | 683 | 688 |
| 5.580% due 06/17/2030  | 1417 | 1434 |
| 5.590% due 10/15/2029  | 4762 | 4814 |
| 6.370% due 06/15/2028  | 354 | 356 |
| **GM Financial Automobile Leasing Trust**  |  |  |
| 4.190% due 10/20/2027  | 9250 | 9272 |
| 4.210% due 10/20/2027  | 5000 | 5009 |
| 4.550% due 07/20/2027  | 12660 | 12699 |
| **GM Financial Consumer Automobile Receivables Trust**  |  |  |
| 4.400% due 08/16/2029  | 4700 | 4737 |
| 4.470% due 02/16/2028  | 675 | 676 |
| 4.530% due 10/18/2027  | 779 | 780 |
| 5.130% due 04/16/2029  | 20000 | 20216 |
| **GreenState Auto Receivables Trust** <br>5.530% due 08/16/2027 | 126 | 126 |
| **Harley-Davidson Motorcycle Trust**  |  |  |
| 4.310% due 07/16/2029  | 12200 | 12253 |
| 4.620% due 08/16/2027  | 3625 | 3627 |
| **Hertz Vehicle Financing III LLC** <br>5.570% due 09/25/2029 | 10000 | 10310 |
| **Hertz Vehicle Financing III LP** <br>1.680% due 12/27/2027 | 5321 | 5222 |
| **Honda Auto Receivables Owner Trust** <br>4.330% due 05/15/2029 | 5200 | 5230 |
| **Hyundai Auto Lease Securitization Trust** <br>5.800% due 12/15/2026 | 6120 | 6126 |
| **Hyundai Auto Receivables Trust**  |  |  |
| 4.410% due 05/15/2029  | 6900 | 6957 |
| 4.840% due 03/15/2029  | 52300 | 52898 |
| **LAD Auto Receivables Trust**  |  |  |
| 4.300% due 07/17/2028  | 36200 | 36250 |
| 4.520% due 03/15/2029  | 1200 | 1206 |
| 4.600% due 12/15/2027  | 1430 | 1431 |
| 4.640% due 11/15/2027  | 399 | 399 |
| 5.420% due 02/15/2028  | 70 | 70 |
| 5.460% due 07/16/2029  | 500 | 508 |
| 5.610% due 08/15/2028  | 777 | 781 |
| **Lendbuzz Securitization Trust**  |  |  |
| 4.970% due 10/15/2029  | 1141 | 1141 |
| 5.100% due 10/15/2030  | 618 | 618 |
| **M&T Bank Auto Receivables Trust**  |  |  |
| 4.630% due 05/15/2028  | 19343 | 19390 |
| 5.220% due 02/17/2032  | 3571 | 3611 |
| **Mercedes-Benz Auto Lease Trust**  |  |  |
| 4.570% due 12/15/2026  | 651 | 651 |
| 4.570% due 04/17/2028  | 67100 | 67454 |
| **Nissan Auto Receivables Owner Trust**  |  |  |
| 4.340% due 03/15/2029  | 2800 | 2816 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.500% due 02/15/2028  | 63500 | 63714 |
| **Octane Receivables Trust** <br>4.940% due 05/20/2030 | 603 | 607 |
| **OneMain Direct Auto Receivables Trust** <br>5.410% due 11/14/2029 | 7800 | 7861 |
| **Oscar U.S. Funding XVII LLC**  |  |  |
| 4.470% due 03/12/2029  | 600 | 603 |
| 4.630% due 12/10/2027  | 1163 | 1164 |
| **PenFed Auto Receivables Owner Trust**  |  |  |
| 4.030% due 07/15/2030  | 5100 | 5116 |
| 4.120% due 09/15/2028  | 500 | 501 |
| 4.700% due 06/15/2029  | 2500 | 2512 |
| 5.040% due 09/15/2027  | 328 | 328 |
| **Porsche Innovative Lease Owner Trust**  |  |  |
| 4.350% due 10/20/2027  | 3500 | 3507 |
| 4.470% due 12/21/2026  | 316 | 316 |
| 4.600% due 12/20/2027  | 23747 | 23817 |
| **Research-Driven Pagaya Motor Asset Trust**  |  |  |
| 4.811% due 07/27/2026  | 2180 | 2183 |
| 5.124% due 04/25/2034  | 2500 | 2510 |
| 7.130% due 01/26/2032  | 1038 | 1039 |
| **Research-Driven Pagaya Motor Trust** <br>7.090% due 06/25/2032 | 233 | 234 |
| **Santander Drive Auto Receivables Trust**  |  |  |
| 4.280% due 01/15/2029  | 7900 | 7920 |
| 4.620% due 11/15/2028  | 678 | 679 |
| 4.630% due 10/16/2028  | 11490 | 11526 |
| 4.710% due 06/15/2028  | 6239 | 6249 |
| 5.630% due 01/16/2029  | 4353 | 4371 |
| **SBNA Auto Lease Trust**  |  |  |
| 4.680% due 04/20/2027  | 975 | 976 |
| 4.830% due 04/20/2028  | 3000 | 3020 |
| 5.560% due 11/22/2027  | 5492 | 5521 |
| 6.520% due 04/20/2028  | 1000 | 1006 |
| **SBNA Auto Receivables Trust**  |  |  |
| 5.210% due 04/16/2029  | 1100 | 1110 |
| 5.320% due 12/15/2028  | 1831 | 1838 |
| **SCCU Auto Receivables Trust**  |  |  |
| 4.570% due 01/15/2031  | 11700 | 11817 |
| 4.670% due 11/15/2028  | 2038 | 2044 |
| 4.680% due 09/15/2031  | 3200 | 3252 |
| 5.110% due 06/15/2029  | 2800 | 2820 |
| 5.160% due 05/15/2030  | 3200 | 3260 |
| 5.450% due 12/15/2027  | 591 | 592 |
| 5.700% due 10/16/2028  | 1046 | 1054 |
| 5.700% due 08/15/2029  | 700 | 717 |
| **SFS Auto Receivables Securitization Trust**  |  |  |
| 4.520% due 11/20/2028  | 19061 | 19103 |
| 4.550% due 06/20/2030  | 2900 | 2920 |
| 4.650% due 05/22/2028  | 2545 | 2549 |
| 4.710% due 05/22/2028  | 512 | 512 |
| 5.470% due 10/20/2028  | 1659 | 1670 |
| **Stellantis Financial Underwritten Enhanced Lease Trust**  |  |  |
| 4.060% due 06/20/2028  | 5500 | 5509 |
| 4.310% due 05/22/2028  | 48900 | 49071 |
| **Tesla Auto Lease Trust** <br>4.790% due 01/20/2027 | 356 | 356 |
| **Tesla Electric Vehicle Trust**  |  |  |
| 5.380% due 06/20/2028  | 23089 | 23268 |
| 5.380% due 02/20/2029  | 12500 | 12726 |
| **Toyota Auto Receivables Owner Trust**  |  |  |
| 4.400% due 06/15/2029  | 5000 | 5037 |
| 5.330% due 01/16/2029  | 2286 | 2311 |
| **Toyota Lease Owner Trust** <br>3.910% due 05/22/2028 | 47000 | 47091 |
| **Tricolor Auto Securitization Trust** <br>6.360% due 12/15/2027 | 82 | 79 |
| **USB Auto Owner Trust** <br>4.510% due 06/15/2028 | 6477 | 6492 |
| **Veros Auto Receivables Trust** <br>6.280% due 11/15/2027 | 102 | 102 |
| **Westlake Automobile Receivables Trust**  |  |  |
| 4.660% due 09/15/2028  | 8200 | 8227 |
| 4.710% due 04/17/2028  | 2500 | 2508 |
| 4.820% due 09/15/2027  | 2164 | 2167 |
| 5.560% due 02/15/2028  | 1400 | 1406 |
| 5.750% due 08/16/2027  | 690 | 691 |
| **World Omni Auto Receivables Trust**  |  |  |
| 5.270% due 09/17/2029  | 2105 | 2125 |
| 5.610% due 02/15/2028  | 285 | 286 |
| **World Omni Select Auto Trust**  |  |  |
| 4.140% due 05/15/2030  | 5100 | 5112 |
| 4.980% due 02/15/2030  | 20000 | 20105 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.370% due 02/15/2028  | 1396 | 1396 |
|  |  | 1231397 |
| **CMBS OTHER 1.8%**  |  |  |
| **ACREC LLC** <br>5.044% due 08/18/2042 •  | 6400 | 6394 |
| **ACRES LLC** <br>5.353% due 08/18/2040 •  | 10200 | 10221 |
| **AREIT Trust** <br>5.847% due 08/17/2041 •  | 1306 | 1307 |
| **BDS LLC** <br>5.013% due 10/17/2042 •  | 3150 | 3147 |
| **BDS Ltd.** <br>5.199% due 12/16/2036 •  | 3176 | 3179 |
| **LMNT CRE LLC** <br>5.550% due 07/21/2043 •  | 11200 | 11219 |
| **LRECS LLC** <br>5.500% due 08/19/2043 •  | 27300 | 27352 |
| **MF1 LLC**  |  |  |
| 5.054% due 02/18/2040 •  | 9600 | 9588 |
| 5.184% due 02/18/2043 •  | 17800 | 17844 |
| 5.468% due 03/19/2039 •  | 3500 | 3511 |
| 5.881% due 06/19/2037 •  | 13651 | 13658 |
| **MF1 Ltd.**  |  |  |
| 4.929% due 10/16/2036 •  | 6143 | 6139 |
| 5.081% due 02/19/2037 •  | 17158 | 17162 |
| **PFP Ltd.** <br>5.610% due 09/17/2039 •  | 2391 | 2398 |
| **Starwood LLC** <br>5.181% due 11/19/2042 •  | 14700 | 14727 |
| **TRTX Issuer Ltd.** <br>5.386% due 02/15/2039 •  | 3850 | 3843 |
|  |  | 151689 |
| **CREDIT CARD OTHER 0.7%**  |  |  |
| **Golden Credit Card Trust**  |  |  |
| 1.140% due 08/15/2028  | 26900 | 26446 |
| 1.970% due 01/15/2029  | 33100 | 32457 |
|  |  | 58903 |
| **HOME EQUITY OTHER 16.1%**  |  |  |
| **Aames Mortgage Investment Trust** <br>4.761% due 10/25/2035 •  | 1900 | 1822 |
| **ABFC Trust**  |  |  |
| 4.126% due 11/25/2036 •  | 7214 | 4615 |
| 4.326% due 09/25/2036 •  | 3338 | 3294 |
| 4.526% due 04/25/2033 •  | 371 | 369 |
| 4.846% due 05/25/2037 •  | 12189 | 9262 |
| 4.866% due 03/25/2032 •  | 122 | 125 |
| 5.096% due 06/25/2037 •  | 7175 | 5149 |
| **ABFS Mortgage Loan Trust** <br>6.785% due 07/15/2033 þ | 455 | 363 |
| **Accredited Mortgage Loan Trust**  |  |  |
| 4.106% due 09/25/2036 •  | 176 | 175 |
| 5.403% due 04/25/2035 •  | 761 | 791 |
| **ACE Securities Corp. Home Equity Loan Trust**  |  |  |
| 4.206% due 10/25/2036 •  | 14134 | 4738 |
| 4.286% due 01/25/2037 •  | 22333 | 4793 |
| 4.286% due 05/25/2037 •  | 56574 | 8593 |
| 4.366% due 10/25/2036 •  | 2016 | 676 |
| 4.746% due 09/25/2033 •  | 578 | 575 |
| 4.896% due 12/25/2033 •  | 416 | 425 |
| 4.896% due 07/25/2034 •  | 8 | 8 |
| 7.041% due 06/25/2034 •  | 658 | 569 |
| **AFC Home Equity Loan Trust** <br>4.446% due 06/25/2028 •  | 45 | 45 |
| **American Home Mortgage Investment Trust** <br>4.026% due 08/25/2035 •  | 3 | 3 |
| **Ameriquest Mortgage Securities Trust**  |  |  |
| 4.006% due 10/25/2036 •  | 17945 | 5337 |
| 4.086% due 10/25/2036 •  | 2977 | 885 |
| **Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates**  |  |  |
| 4.026% due 06/25/2034 •  | 2419 | 2305 |
| 4.716% due 10/25/2035 •  | 6988 | 6936 |
| 4.761% due 01/25/2035 •  | 123 | 127 |
| 4.896% due 11/25/2034 •  | 5366 | 5327 |
| 4.956% due 03/25/2035 •  | 2899 | 2875 |
| 5.901% due 11/25/2034 •  | 3844 | 3565 |
| **Amortizing Residential Collateral Trust** <br>4.846% due 10/25/2034 •  | 1313 | 1300 |
| **Argent Securities, Inc. Asset-Backed Pass-Through Certificates**  |  |  |
| 4.316% due 01/25/2036 •  | 3315 | 3304 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.581% due 10/25/2035 •  | 44 | 44 |
| 4.611% due 10/25/2035 •  | 37500 | 35490 |
| 4.971% due 05/25/2034 •  | 1231 | 1059 |
| **Asset-Backed Securities Corp. Home Equity Loan Trust**  |  |  |
| 3.567% due 01/25/2036 •  | 8926 | 8804 |
| 4.385% due 06/15/2031 •  | 111 | 109 |
| 4.551% due 11/25/2035 •  | 11700 | 11910 |
| 5.215% due 04/15/2033 •  | 10 | 10 |
| **Bayview Financial Acquisition Trust** <br>4.442% due 12/28/2036 •  | 7064 | 6378 |
| **Bear Stearns Asset-Backed Securities I Trust**  |  |  |
| 2.461% due 09/25/2034 •  | 9 | 9 |
| 4.126% due 01/25/2037 •  | 456 | 449 |
| 4.166% due 08/25/2036 •  | 257 | 251 |
| 4.846% due 10/25/2037 •  | 5397 | 4911 |
| 4.896% due 11/25/2035 •  | 664 | 686 |
| 5.096% due 08/25/2037 •  | 684 | 681 |
| 5.211% due 01/25/2035 •  | 1747 | 1830 |
| 5.221% due 03/25/2035 •  | 8392 | 8745 |
| 5.571% due 08/25/2034 •  | 16 | 15 |
| **Bear Stearns Asset-Backed Securities Trust**  |  |  |
| 4.496% due 01/25/2047 •  | 7047 | 6129 |
| 4.671% due 10/25/2036 •  | 14578 | 14151 |
| 4.746% due 12/25/2033 •  | 207 | 217 |
| 4.846% due 11/25/2042 •  | 35 | 35 |
| 4.941% due 01/25/2034 •  | 920 | 924 |
| 5.026% due 06/25/2043 •  | 201 | 200 |
| 5.346% due 11/25/2042 •  | 21 | 22 |
| 5.350% due 06/25/2043 ~  | 466 | 433 |
| **BNC Mortgage Loan Trust** <br>4.056% due 07/25/2037 •  | 59069 | 55039 |
| **C-BASS Trust** <br>3.403% due 04/25/2037 þ | 846 | 836 |
| **Centex Home Equity Loan Trust**  |  |  |
| 4.398% due 06/25/2034 •  | 193 | 190 |
| 4.866% due 03/25/2035 •  | 1413 | 1380 |
| 4.881% due 09/25/2034 •  | 7 | 7 |
| **Chase Funding Trust**  |  |  |
| 4.426% due 11/25/2034 •  | 1 | 1 |
| 4.537% due 09/25/2032  | 1 | 1 |
| 4.746% due 05/25/2033 •  | 565 | 568 |
| **Citigroup Global Markets Mortgage Securities VII, Inc.** <br>7.000% due 12/25/2027 | 341 | 58 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.006% due 01/25/2037 •  | 515 | 384 |
| 4.126% due 01/25/2037 •  | 8592 | 8182 |
| 4.166% due 09/25/2036 •  | 8854 | 8150 |
| 4.366% due 03/25/2036 •  | 3333 | 3089 |
| 7.221% due 12/25/2033 •  | 1194 | 1199 |
| **Countrywide Asset-Backed Certificates**  |  |  |
| 4.266% due 08/25/2034 •  | 5885 | 5772 |
| 4.746% due 05/25/2032 •  | 86 | 84 |
| 4.746% due 06/25/2034 •  | 520 | 521 |
| 4.846% due 09/25/2032 •  | 91 | 94 |
| 4.941% due 02/25/2036 •  | 4067 | 3685 |
| **Countrywide Asset-Backed Certificates Trust**  |  |  |
| 3.861% due 12/25/2034 •  | 324 | 307 |
| 3.966% due 01/25/2037 •  | 2007 | 1993 |
| 4.046% due 10/25/2047 •  | 12382 | 11775 |
| 4.049% due 12/25/2035 •  | 6181 | 6127 |
| 4.049% due 02/25/2036 •  | 6250 | 5819 |
| 4.126% due 06/25/2035 •  | 13947 | 12912 |
| 4.136% due 10/25/2047 •  | 47529 | 41889 |
| 4.286% due 06/25/2047 •  | 14317 | 13573 |
| 4.346% due 04/25/2046 •  | 4698 | 4605 |
| 4.406% due 04/25/2034 •  | 379 | 366 |
| 4.431% due 06/25/2036 •  | 14011 | 14012 |
| 4.536% due 04/25/2036 •  | 3769 | 3733 |
| 4.566% due 05/25/2036 •  | 44642 | 42873 |
| 4.586% due 12/25/2034 •  | 10 | 10 |
| 4.586% due 08/25/2047 •  | 429 | 425 |
| 4.626% due 11/25/2034 •  | 2289 | 2241 |
| 4.626% due 05/25/2036 •  | 32300 | 28548 |
| 4.816% due 08/25/2047 •  | 3000 | 2682 |
| 4.941% due 04/25/2036 •  | 5500 | 5397 |
| 4.986% due 08/25/2035 •  | 9401 | 9438 |
| 5.125% due 12/25/2034 ~  | 209 | 209 |
| 6.547% due 05/25/2036 þ  | 293 | 245 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>4.379% due 01/25/2032 •  | 11 | 11 |
| **Credit-Based Asset Servicing & Securitization LLC**  |  |  |
| 2.886% due 05/25/2036 •  | 3821 | 2652 |
| 3.345% due 12/25/2035 •  | 1377 | 1335 |
| 6.780% due 05/25/2035 þ  | 161 | 149 |
| **Ellington Loan Acquisition Trust** <br>5.346% due 05/25/2037 •  | 1720 | 1704 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **EMC Mortgage Loan Trust** <br>5.346% due 08/25/2040 •  | 141 | 145 |
| **Encore Credit Receivables Trust**  |  |  |
| 4.536% due 07/25/2035 •  | 223 | 220 |
| 4.776% due 11/25/2035 •  | 10936 | 10566 |
| 4.896% due 01/25/2036 •  | 12708 | 10842 |
| **EquiFirst Mortgage Loan Trust** <br>8.946% due 10/25/2034 •  | 2281 | 1986 |
| **Equity One Mortgage Pass-Through Trust** <br>2.789% due 07/25/2034 •  | 1 | 1 |
| **Finance of America HECM Buyout** <br>4.000% due 10/01/2034 ~ | 235 | 235 |
| **First NLC Trust**  |  |  |
| 3.986% due 08/25/2037 •  | 23527 | 11921 |
| 4.126% due 08/25/2037 •  | 1285 | 651 |
| **Fremont Home Loan Trust**  |  |  |
| 4.116% due 10/25/2036 •  | 25007 | 23161 |
| 4.126% due 01/25/2037 •  | 7165 | 3713 |
| 4.701% due 07/25/2034 •  | 2935 | 2788 |
| 4.821% due 06/25/2035 •  | 12514 | 11066 |
| **GSAA Home Equity Trust**  |  |  |
| 4.486% due 10/25/2035 •  | 969 | 1022 |
| 4.521% due 10/25/2035 •  | 3600 | 3566 |
| 4.551% due 10/25/2035 •  | 4148 | 4094 |
| 5.271% due 12/25/2034 •  | 3412 | 3235 |
| 6.114% due 06/25/2034 þ  | 4009 | 3967 |
| **GSAMP Trust**  |  |  |
| 2.357% due 10/25/2036 •  | 5043 | 23 |
| 3.986% due 12/25/2036 •  | 725 | 390 |
| 4.296% due 06/25/2036 •  | 13061 | 11486 |
| 4.491% due 11/25/2035 •  | 22 | 22 |
| 4.581% due 09/25/2035 •  | 4470 | 4443 |
| **Home Equity Asset Trust**  |  |  |
| 4.446% due 11/25/2032 •  | 4 | 3 |
| 4.746% due 12/25/2035 •  | 3924 | 3916 |
| 4.761% due 03/25/2035 •  | 2252 | 2246 |
| 4.766% due 02/25/2033 •  | 1 | 1 |
| 5.046% due 07/25/2035 •  | 1110 | 1108 |
| **Home Equity Loan Trust** <br>4.036% due 04/25/2037 •  | 2128 | 2038 |
| **Home Equity Mortgage Loan Asset-Backed Trust**  |  |  |
| 3.419% due 06/25/2031 •  | 312 | 328 |
| 3.505% due 07/25/2034 •  | 181 | 176 |
| 4.166% due 07/25/2037 •  | 77 | 43 |
| 5.306% due 02/25/2030 þ  | 199 | 95 |
| **HSI Asset Loan Obligation Trust** <br>3.966% due 12/25/2036 •  | 9 | 3 |
| **HSI Asset Securitization Corp. Trust**  |  |  |
| 0.000% due 10/25/2036 (b)  | 4053 | 963 |
| 4.046% due 07/25/2036 •  | 2020 | 863 |
| 4.431% due 01/25/2036 •  | 30 | 30 |
| **IXIS Real Estate Capital Trust**  |  |  |
| 4.046% due 01/25/2037 •  | 15015 | 4943 |
| 4.166% due 08/25/2036 •  | 20991 | 5774 |
| 4.306% due 01/25/2037 •  | 40884 | 13454 |
| **JP Morgan Mortgage Acquisition Corp.**  |  |  |
| 4.476% due 05/25/2035 •  | 21779 | 20888 |
| 4.821% due 12/25/2035 •  | 5000 | 4776 |
| 5.646% due 07/25/2035 •  | 10000 | 9319 |
| **JP Morgan Mortgage Acquisition Trust**  |  |  |
| 4.006% due 08/25/2036 •  | 445 | 198 |
| 4.066% due 08/25/2036 •  | 529 | 404 |
| 4.146% due 03/25/2037 •  | 3851 | 3753 |
| 4.216% due 03/25/2037 •  | 20645 | 18224 |
| 4.251% due 07/25/2036 •  | 1297 | 1287 |
| 4.971% due 01/25/2037 •  | 4474 | 3745 |
| **Long Beach Mortgage Loan Trust**  |  |  |
| 4.146% due 05/25/2036 •  | 12419 | 6578 |
| 4.146% due 09/25/2036 •  | 1100 | 716 |
| 4.166% due 11/25/2036 •  | 12727 | 3814 |
| 4.206% due 05/25/2046 •  | 38940 | 11627 |
| 4.406% due 10/25/2034 •  | 879 | 860 |
| 4.466% due 08/25/2033 •  | 530 | 526 |
| 4.551% due 08/25/2045 •  | 15860 | 13998 |
| 4.701% due 07/25/2034 •  | 3825 | 3855 |
| 4.896% due 10/25/2034 •  | 3 | 3 |
| 4.896% due 06/25/2035 •  | 12007 | 11891 |
| 5.271% due 03/25/2032 •  | 5 | 8 |
| **MASTR Asset-Backed Securities Trust**  |  |  |
| 4.106% due 08/25/2036 •  | 12857 | 6418 |
| 4.546% due 09/25/2034 •  | 478 | 415 |
| 4.596% due 12/25/2034 •  | 241 | 249 |
| 4.671% due 10/25/2034 •  | 368 | 361 |
| 4.746% due 10/25/2035 •  | 1950 | 1841 |
| 4.946% due 08/25/2037 •  | 11301 | 9322 |
| 9.846% due 11/25/2032 •  | 3377 | 3266 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 9.846% due 08/25/2033 •  | 591 | 630 |
| **MASTR Specialized Loan Trust** <br>5.121% due 05/25/2037 •  | 199 | 35 |
| **Meritage Mortgage Loan Trust** <br>4.641% due 11/25/2035 •  | 4494 | 4396 |
| **Merrill Lynch First Franklin Mortgage Loan Trust**  |  |  |
| 4.106% due 06/25/2037 •  | 1168 | 1189 |
| 6.846% due 10/25/2037 •  | 86 | 84 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 3.966% due 10/25/2037 •  | 5784 | 846 |
| 4.006% due 09/25/2037 •  | 123 | 24 |
| 4.026% due 06/25/2037 •  | 6307 | 1659 |
| 4.186% due 07/25/2037 •  | 26593 | 10236 |
| 4.346% due 05/25/2037 •  | 15159 | 1686 |
| **Morgan Stanley ABS Capital I, Inc. Trust**  |  |  |
| 3.906% due 05/25/2037 •  | 64 | 58 |
| 3.946% due 11/25/2036 •  | 6971 | 3354 |
| 3.976% due 01/25/2037 •  | 52325 | 19881 |
| 4.146% due 06/25/2036 •  | 422 | 375 |
| 4.186% due 03/25/2037 •  | 18774 | 8033 |
| 4.326% due 06/25/2036 •  | 5283 | 4728 |
| 4.341% due 03/25/2036 •  | 19098 | 16090 |
| 4.506% due 11/25/2035 •  | 5557 | 5447 |
| 4.526% due 08/25/2034 •  | 5818 | 5528 |
| 4.701% due 07/25/2034 •  | 5895 | 6074 |
| 4.731% due 11/25/2034 •  | 1473 | 1429 |
| 4.836% due 03/25/2035 •  | 2190 | 2149 |
| 4.881% due 03/25/2035 •  | 3789 | 3512 |
| 5.846% due 07/25/2037 •  | 363 | 298 |
| **Morgan Stanley Capital I, Inc. Trust**  |  |  |
| 4.386% due 02/25/2036 •  | 2494 | 2476 |
| 4.386% due 03/25/2036 •  | 4997 | 4240 |
| 4.401% due 01/25/2036 •  | 7117 | 6052 |
| **Morgan Stanley Dean Witter Capital I, Inc. Trust**  |  |  |
| 5.196% due 02/25/2033 •  | 19 | 21 |
| 6.321% due 01/25/2032 •  | 25 | 81 |
| **Morgan Stanley Mortgage Loan Trust**  |  |  |
| 4.166% due 11/25/2036 •  | 540 | 36 |
| 4.366% due 10/25/2036 •  | 1178 | 330 |
| **Nationstar Home Equity Loan Trust**  |  |  |
| 4.266% due 03/25/2037 •  | 5632 | 5504 |
| 4.401% due 09/25/2036 •  | 5483 | 5269 |
| **New Century Home Equity Loan Trust**  |  |  |
| 4.206% due 05/25/2036 •  | 45 | 45 |
| 4.521% due 02/25/2036 •  | 4923 | 4822 |
| 4.626% due 03/25/2035 •  | 1980 | 1981 |
| 5.650% due 08/25/2034 ~  | 31 | 40 |
| 5.796% due 07/25/2035 •  | 23643 | 22114 |
| 7.000% due 06/20/2031 ~  | 1038 | 960 |
| **Newcastle Mortgage Securities Trust** <br>4.566% due 03/25/2036 •  | 7700 | 7639 |
| **Nomura Home Equity Loan, Inc. Home Equity Loan Trust** <br>4.341% due 03/25/2036 •  | 5868 | 5560 |
| **NovaStar Mortgage Funding Trust**  |  |  |
| 4.046% due 03/25/2037 •  | 543 | 171 |
| 4.146% due 09/25/2037 •  | 10395 | 9723 |
| 4.581% due 01/25/2036 •  | 22380 | 21711 |
| 4.586% due 02/25/2034 •  | 4609 | 4640 |
| 4.946% due 02/25/2034 •  | 2 | 2 |
| **Option One Mortgage Accept Corp. Asset Back Certificates** <br>4.746% due 08/25/2033 •  | 22 | 24 |
| **Option One Mortgage Loan Trust**  |  |  |
| 4.386% due 01/25/2036 •  | 21391 | 20397 |
| 4.626% due 02/25/2035 •  | 320 | 308 |
| 4.641% due 05/25/2034 •  | 7 | 7 |
| 5.346% due 02/25/2035 •  | 2932 | 2152 |
| **Option One Mortgage Loan Trust Asset-Backed Certificates** <br>4.348% due 08/20/2030 •  | 1 | 1 |
| **Park Place Securities, Inc. Asset-Backed Pass-Through Certificates** <br>4.896% due 10/25/2034 •  | 2522 | 2505 |
| **Popular ABS Mortgage Pass-Through Trust**  |  |  |
| 3.263% due 01/25/2036 þ  | 131 | 127 |
| 3.288% due 11/25/2035 •  | 3719 | 3555 |
| **RCKT Mortgage Trust**  |  |  |
| 4.795% due 09/25/2055 þ  | 7431 | 7422 |
| 4.894% due 11/25/2055 þ  | 13904 | 13928 |
| 4.966% due 11/25/2055 þ  | 4659 | 4670 |
| 5.344% due 09/25/2044 þ  | 1479 | 1487 |
| 6.025% due 02/25/2044 ~  | 534 | 539 |
| 6.141% due 04/25/2044 ~  | 3732 | 3774 |
| **Renaissance Home Equity Loan Trust**  |  |  |
| 4.946% due 09/25/2037 •  | 658 | 263 |
| 5.046% due 08/25/2032 •  | 388 | 372 |
| 5.086% due 03/25/2033 •  | 7 | 6 |
| 5.434% due 08/25/2035 þ  | 3 | 3 |
| 5.784% due 11/25/2034 þ  | 3487 | 3123 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Residential Asset Mortgage Products Trust** <br>4.386% due 02/25/2036 •  | 9943 | 9656 |
| **Residential Asset Securities Corporation Trust**  |  |  |
| 4.116% due 08/25/2036 •  | 2605 | 2584 |
| 4.136% due 08/25/2036 •  | 18508 | 17012 |
| 4.426% due 06/25/2033 •  | 359 | 347 |
| 4.491% due 01/25/2036 •  | 7948 | 7930 |
| 4.996% due 06/25/2035 •  | 2906 | 2899 |
| 5.496% due 07/25/2035 •  | 551 | 553 |
| 5.721% due 07/25/2035 •  | 3000 | 2924 |
| 5.766% due 07/25/2035 •  | 1645 | 1685 |
| 5.796% due 11/25/2034 •  | 2653 | 2660 |
| **SACO I Trust**  |  |  |
| 4.206% due 05/25/2036 •  | 47 | 88 |
| 4.366% due 06/25/2036 •  | 11 | 11 |
| **SACO I, Inc.** <br>4.596% due 07/25/2035 •  | 42 | 43 |
| **SASCO Mortgage Loan Trust**  |  |  |
| 4.369% due 12/25/2034 •  | 550 | 550 |
| 4.971% due 04/25/2035 •  | 241 | 253 |
| **Saxon Asset Securities Trust**  |  |  |
| 1.215% due 11/25/2035 •  | 758 | 538 |
| 1.432% due 03/25/2035 •  | 1530 | 1371 |
| 1.595% due 08/25/2035 •  | 3135 | 3469 |
| 4.086% due 05/25/2047 •  | 8274 | 6166 |
| 4.156% due 09/25/2037 •  | 530 | 515 |
| 5.596% due 12/25/2037 •  | 5751 | 5558 |
| 6.434% due 12/25/2032 •  | 2971 | 2764 |
| **Securitized Asset-Backed Receivables LLC Trust**  |  |  |
| 4.126% due 09/25/2036 •  | 11092 | 6318 |
| 4.146% due 12/25/2036 •  | 17502 | 8712 |
| 4.206% due 05/25/2037 •  | 18035 | 14160 |
| 4.626% due 02/25/2034 •  | 1080 | 1140 |
| **SG Mortgage Securities Trust** <br>4.106% due 07/25/2036 •  | 44677 | 18331 |
| **Soundview Home Loan Trust**  |  |  |
| 3.926% due 06/25/2037 •  | 3151 | 2127 |
| 4.016% due 07/25/2037 •  | 22336 | 20308 |
| 4.016% due 08/25/2037 •  | 19901 | 17519 |
| 4.096% due 08/25/2037 •  | 3000 | 2751 |
| 4.221% due 07/25/2036 •  | 11147 | 9843 |
| 4.461% due 02/25/2036 •  | 11224 | 11144 |
| 4.551% due 11/25/2035 •  | 182 | 182 |
| 4.746% due 10/25/2037 •  | 56344 | 44455 |
| 4.821% due 03/25/2036 •  | 2200 | 2137 |
| 4.846% due 09/25/2037 •  | 7093 | 5298 |
| 5.146% due 11/25/2033 •  | 0 | 1 |
| **Structured Asset Investment Loan Trust**  |  |  |
| 4.611% due 08/25/2035 •  | 455 | 448 |
| 5.121% due 12/25/2034 •  | 813 | 800 |
| 6.771% due 04/25/2033 •  | 3731 | 3976 |
| **Structured Asset Securities Corp. Mortgage Loan Trust**  |  |  |
| 4.001% due 09/25/2036 •  | 5757 | 3585 |
| 4.106% due 05/25/2047 •  | 21126 | 19124 |
| 4.166% due 01/25/2037 •  | 3398 | 3262 |
| **Structured Asset Securities Corp. Mortgage Pass-Through Certificates** <br>3.375% due 08/25/2031 | 2 | 1 |
| **Towd Point Mortgage Trust**  |  |  |
| 5.091% due 10/25/2065 þ  | 5009 | 5031 |
| 5.278% due 08/25/2065 þ  | 5648 | 5675 |
| 5.348% due 07/25/2065 þ  | 2061 | 2075 |
| 6.125% due 02/25/2064 ~  | 545 | 550 |
| 6.290% due 05/25/2064 ~  | 3634 | 3679 |
| **Washington Mutual Asset-Backed Certificates Trust** <br>3.851% due 10/25/2036 •  | 73 | 25 |
| **Wells Fargo Home Equity Asset-Backed Securities Trust** <br>4.191% due 01/25/2037 •  | 3749 | 3775 |
|  |  | 1321811 |
| **HOME EQUITY SEQUENTIAL 0.0%**  |  |  |
| **EquiFirst Mortgage Loan Trust** <br>4.250% due 09/25/2033 þ | 77 | 74 |
| **JP Morgan Mortgage Acquisition Trust** <br>4.126% due 03/25/2047 •  | 3624 | 3466 |
| **Wells Fargo Home Equity Asset-Backed Securities Trust** <br>4.486% due 03/25/2037 •  | 230 | 216 |
|  |  | 3756 |
| **MANUFACTURING HOUSE ABS OTHER 0.0%**  |  |  |
| **UCFC Manufactured Housing Contract** <br>7.900% due 01/15/2028 ~ | 6 | 6 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **MANUFACTURING HOUSE SEQUENTIAL 0.1%**  |  |  |
| **Cascade MH Asset Trust** <br>5.695% due 11/25/2056 ~ | 900 | <br> 928 |
| **Conseco Finance Securitizations Corp.** <br>8.260% due 12/01/2030 ~ | 22467 | 3644 |
|  |  | 4572 |
| **WHOLE LOAN COLLATERAL 3.7%**  |  |  |
| **Bear Stearns Asset-Backed Securities I Trust**  |  |  |
| 4.096% due 07/25/2036 •  | 8512 | 6642 |
| 5.500% due 06/25/2034 þ  | 152 | 148 |
| 5.500% due 12/25/2035  | 46 | 29 |
| 13.838% due 02/25/2037 •  | 2284 | 2046 |
| **Bear Stearns Asset-Backed Securities Trust**  |  |  |
| 4.346% due 05/25/2037 •  | 457 | 435 |
| 4.901% due 07/25/2036 ~  | 2 | 2 |
| 5.500% due 01/25/2034 þ  | 16 | 14 |
| 5.750% due 10/25/2033 þ  | 34 | 40 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.251% due 06/25/2037 •  | 24348 | 23534 |
| 4.266% due 08/25/2036 •  | 5759 | 5726 |
| 4.311% due 08/25/2036 •  | 11380 | 10581 |
| 6.050% due 08/25/2035 þ  | 170 | 160 |
| 6.129% due 08/25/2035 þ  | 942 | 878 |
| **First Franklin Mortgage Loan Trust**  |  |  |
| 3.966% due 11/25/2036 •  | 29953 | 27903 |
| 4.066% due 12/25/2037 •  | 29655 | 28427 |
| 4.096% due 06/25/2036 •  | 33 | 33 |
| 4.156% due 11/25/2036 •  | 25256 | 22145 |
| 4.166% due 06/25/2036 •  | 8197 | 8114 |
| 4.521% due 11/25/2035 •  | 578 | 581 |
| 4.596% due 12/25/2035 •  | 13349 | 13162 |
| 5.721% due 03/25/2034 •  | 1765 | 1692 |
| 5.721% due 07/25/2034 •  | 1556 | 1571 |
| **Lehman XS Trust**  |  |  |
| 4.135% due 03/25/2037 •  | 10046 | 9521 |
| 4.246% due 06/25/2046 •  | 4661 | 4449 |
| 4.266% due 04/25/2036 •  | 2019 | 1807 |
| 4.306% due 03/25/2036 •  | 6281 | 6392 |
| 4.446% due 06/25/2037 •  | 19033 | 17672 |
| **Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates** <br>4.821% due 07/25/2035 •  | 3412 | 3438 |
| **PRET LLC**  |  |  |
| 5.184% due 11/25/2055 þ  | 2939 | 2948 |
| 5.193% due 10/25/2055 þ  | 2169 | 2174 |
| 5.265% due 12/25/2055 «þ  | 1900 | 1902 |
| 5.342% due 12/25/2055 þ  | 2868 | 2878 |
| 5.657% due 08/25/2055 þ  | 3640 | 3652 |
| 5.732% due 08/25/2055 þ  | 962 | 965 |
| 5.744% due 06/25/2055 þ  | 924 | 929 |
| 5.851% due 12/25/2054 þ  | 3220 | 3224 |
| 5.925% due 10/25/2054 þ  | 4720 | 4726 |
| 5.926% due 10/25/2054 þ  | 2044 | 2047 |
| 6.244% due 05/25/2055 þ  | 5441 | 5475 |
| **RAAC Trust**  |  |  |
| 5.946% due 05/25/2044 •  | 500 | 504 |
| 7.596% due 12/25/2035 •  | 1019 | 1051 |
| **Residential Asset Mortgage Products Trust**  |  |  |
| 4.446% due 05/25/2036 •  | 17610 | 15111 |
| 4.626% due 09/25/2035 •  | 2450 | 2398 |
| **Securitized Asset-Backed Receivables LLC Trust**  |  |  |
| 3.946% due 10/25/2036 •  | 4177 | 1385 |
| 4.346% due 03/25/2036 •  | 3154 | 2001 |
| **Specialty Underwriting & Residential Finance Trust**  |  |  |
| 4.126% due 06/25/2037 •  | 22189 | 20929 |
| 4.146% due 06/25/2037 •  | 17052 | 10263 |
| 4.306% due 04/25/2037 •  | 7893 | 5857 |
| 4.746% due 06/25/2036 •  | 7894 | 7671 |
| **VCAT LLC**  |  |  |
| 5.877% due 01/25/2055 þ  | 1771 | 1779 |
| 5.977% due 01/25/2055 þ  | 3139 | 3151 |
|  |  | 300162 |
| **OTHER ABS 18.7%**  |  |  |
| **37 Capital CLO 1 Ltd.** <br>5.185% due 10/15/2034 •  | 2900 | 2905 |
| **37 Capital CLO 4 Ltd.** <br>4.995% due 04/15/2035 •  | 5000 | 5000 |
| **37 Capital CLO II Ltd.** <br>5.195% due 07/15/2034 •  | 1600 | 1603 |
| **522 Funding CLO Ltd.** <br>5.060% due 10/23/2034 •  | 2600 | 2602 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **ACHV ABS Trust**  |  |  |
| 4.760% due 04/26/2032  | 230 | 231 |
| 5.010% due 12/26/2031  | 201 | 204 |
| 5.040% due 04/26/2032  | 324 | 326 |
| 5.900% due 04/25/2031  | 58 | 59 |
| **Affirm Asset Securitization Trust** <br>5.220% due 12/17/2029 | 192 | 192 |
| **Affirm Master Trust**  |  |  |
| 4.670% due 07/15/2033  | 7400 | 7454 |
| 4.990% due 02/15/2033  | 8100 | 8184 |
| **AGL CLO 14 Ltd.** <br>5.000% due 12/02/2034 •  | 6750 | 6751 |
| **AMMC CLO 24 Ltd.** <br>5.084% due 01/20/2035 •  | 2400 | 2401 |
| **AMMC CLO 27 Ltd.** <br>4.964% due 01/20/2037 •  | 3700 | 3699 |
| **Anchorage Capital CLO 20 Ltd.** <br>4.984% due 01/20/2035 •  | 1000 | 1000 |
| **Anchorage Capital CLO 21 Ltd.** <br>4.934% due 10/20/2034 •  | 6500 | 6495 |
| **Anchorage Capital CLO 28 Ltd.** <br>5.584% due 04/20/2037 •  | 11800 | 11868 |
| **Anchorage Credit Funding 1 Ltd.** <br>3.900% due 07/28/2037 | 5329 | 5289 |
| **Anchorage Credit Funding 10 Ltd.**  |  |  |
| 3.619% due 04/25/2038  | 1896 | 1866 |
| 4.169% due 04/25/2038  | 1000 | 965 |
| **Anchorage Credit Funding 11 Ltd.** <br>3.400% due 04/25/2038 | 8689 | 8516 |
| **Anchorage Credit Funding 12 Ltd.** <br>3.177% due 10/25/2038 | 2000 | 1962 |
| **Anchorage Credit Funding 13 Ltd.** <br>2.875% due 07/27/2039 | 1000 | 964 |
| **Anchorage Credit Funding 14 Ltd.** <br>3.000% due 01/21/2040 | 1000 | 961 |
| **Anchorage Credit Funding 18 Ltd.**  |  |  |
| 5.327% due 10/22/2040  | 10800 | 10850 |
| 5.702% due 10/22/2040  | 2100 | 2110 |
| **Anchorage Credit Funding 19 Ltd.** <br>5.036% due 10/25/2040 | 9400 | 9403 |
| **Anchorage Credit Funding 3 Ltd.** <br>2.871% due 01/28/2039 | 1725 | 1672 |
| **Anchorage Credit Funding 7 Ltd.** <br>4.620% due 04/25/2037 | 716 | 716 |
| **Anchorage Credit Funding 8 Ltd.** <br>4.430% due 07/25/2037 | 1687 | 1683 |
| **Anchorage Credit Funding 9 Ltd.** <br>3.793% due 10/25/2037 | 1243 | 1232 |
| **Apex Credit CLO Ltd.** <br>5.684% due 04/20/2036 •  | 6400 | 6435 |
| **Apidos CLO XI** <br>5.122% due 04/17/2034 •  | 7400 | 7409 |
| **Aqua Finance Issuer Trust** <br>4.790% due 05/17/2051 | 3132 | 3156 |
| **ARES LX CLO Ltd.** <br>5.064% due 07/18/2034 •  | 500 | 500 |
| **ARES LXII CLO Ltd.** <br>4.928% due 01/25/2034 •  | 10500 | 10500 |
| **ARES LXV CLO Ltd.** <br>4.978% due 07/25/2034 •  | 5100 | 5099 |
| **ARES XLIV CLO Ltd.** <br>5.035% due 04/15/2034 •  | 10600 | 10603 |
| **ARES XXVII CLO Ltd.** <br>5.009% due 10/28/2034 •  | 6700 | 6702 |
| **Atlantic Avenue Ltd.**  |  |  |
| 5.144% due 01/20/2035 •  | 7400 | 7407 |
| 5.266% due 10/15/2038 •  | 11900 | 11939 |
| **Atlas Senior Loan Fund XV Ltd.** <br>5.080% due 10/23/2032 •  | 5246 | 5250 |
| **Atlas Senior Loan Fund XVI Ltd.** <br>5.019% due 01/20/2034 •  | 6600 | 6600 |
| **Atlas Senior Loan Fund XVIII Ltd.** <br>4.994% due 01/18/2035 •  | 6800 | 6800 |
| **Bain Capital Credit CLO Ltd.**  |  |  |
| 4.850% due 04/23/2035 •  | 9750 | 9746 |
| 4.900% due 10/21/2034 •  | 4100 | 4098 |
| 4.925% due 07/24/2034 •  | 4000 | 3994 |
| 4.960% due 10/21/2034 •  | 3700 | 3700 |
| 5.007% due 04/22/2035 •  | 9200 | 9202 |
| 5.010% due 10/23/2034 •  | 1000 | 1000 |
| 5.070% due 10/23/2034 •  | 2600 | 2602 |
| 5.084% due 10/20/2034 •  | 6800 | 6806 |
| 5.124% due 07/19/2034 •  | 4300 | 4302 |
| 5.334% due 10/20/2034 •  | 1000 | 1005 |
| 5.534% due 10/20/2034 •  | 1000 | 1002 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Benefit Street Partners CLO XXII Ltd.** <br>5.034% due 04/20/2035 •  | 6300 | 6301 |
| **BHG Securitization Trust**  |  |  |
| 1.420% due 11/17/2033  | 335 | 333 |
| 4.820% due 04/17/2036  | 1129 | 1141 |
| 4.840% due 09/17/2036  | 3849 | 3891 |
| **BlueMountain CLO Ltd.**  |  |  |
| 5.048% due 10/25/2030 •  | 2589 | 2592 |
| 5.052% due 11/15/2030 •  | 298 | 298 |
| **BlueMountain CLO XXXIV Ltd.** <br>5.034% due 04/20/2035 •  | 10300 | 10305 |
| **Canyon Capital CLO Ltd.** <br>4.915% due 10/15/2034 •  | 2800 | 2798 |
| **Canyon CLO Ltd.**  |  |  |
| 4.985% due 07/15/2034 •  | 1000 | 999 |
| 5.005% due 10/15/2034 •  | 4100 | 4101 |
| **Capital Four U.S. CLO II Ltd.** <br>5.784% due 01/20/2037 •  | 30000 | 30220 |
| **Capital Street Master Trust** <br>5.074% due 08/16/2029 •  | 4000 | 3995 |
| **Carlyle Global Market Strategies CLO Ltd.** <br>4.974% due 07/20/2034 •  | 8300 | 8305 |
| **Carlyle U.S. CLO Ltd.**  |  |  |
| 4.938% due 01/25/2035 •  | 1500 | 1500 |
| 4.994% due 10/20/2034 •  | 500 | 500 |
| **CarVal CLO I Ltd.** <br>5.124% due 07/16/2031 •  | 2936 | 2937 |
| **CarVal CLO III Ltd.** <br>4.874% due 07/20/2032 •  | 5758 | 5761 |
| **CBAM Ltd.** <br>5.246% due 07/20/2031 •  | 4593 | 4595 |
| **Cedar Funding V CLO Ltd.** <br>5.243% due 07/17/2031 •  | 2264 | 2265 |
| **Cedar Funding VI CLO Ltd.** <br>4.974% due 04/20/2034 •  | 6600 | 6602 |
| **CIFC Funding Ltd.** <br>5.077% due 10/24/2030 •  | 451 | 452 |
| **College Avenue Student Loans LLC**  |  |  |
| 1.600% due 07/25/2051  | 5856 | 5385 |
| 3.280% due 12/28/2048  | 6043 | 5817 |
| 4.130% due 12/26/2047  | 3035 | 3002 |
| 4.946% due 07/25/2051 •  | 3493 | 3489 |
| 5.046% due 12/26/2047 •  | 2224 | 2228 |
| 5.774% due 05/25/2055 •  | 963 | 981 |
| **CoreVest American Finance Ltd.** <br>1.358% due 08/15/2053 | 739 | 732 |
| **CQS U.S. CLO Ltd.** <br>5.084% due 01/20/2035 •  | 3700 | 3704 |
| **Crossroads Asset Trust** <br>4.910% due 02/20/2032 | 589 | 593 |
| **Crown Point CLO 7 Ltd.** <br>5.114% due 10/20/2031 •  | 424 | 425 |
| **DB Master Finance LLC** <br>4.030% due 11/20/2047 | 738 | 734 |
| **Dell Equipment Finance Trust** <br>4.690% due 08/22/2030 | 3415 | 3422 |
| **Dewolf Park CLO Ltd.** <br>5.086% due 10/15/2030 •  | 184 | 184 |
| **Diameter Capital CLO 4 Ltd.** <br>5.735% due 01/15/2037 •  | 50000 | 50325 |
| **Diameter Capital CLO 6 Ltd.** <br>5.515% due 04/15/2037 •  | 11700 | 11760 |
| **Domino's Pizza Master Issuer LLC**  |  |  |
| 2.662% due 04/25/2051  | 486 | 463 |
| 3.151% due 04/25/2051  | 486 | 447 |
| 3.668% due 10/25/2049  | 1824 | 1759 |
| **Dryden 43 Senior Loan Fund** <br>4.954% due 04/20/2034 •  | 1000 | 1000 |
| **Dryden 54 Senior Loan Fund** <br>5.034% due 10/19/2029 •  | 1416 | 1417 |
| **Dryden 86 CLO Ltd.** <br>5.012% due 07/17/2034 •  | 600 | 600 |
| **Dryden 95 CLO Ltd.** <br>4.929% due 08/20/2034 •  | 9100 | 9097 |
| **ECMC Group Student Loan Trust** <br>5.139% due 11/25/2069 •  | 4480 | 4514 |
| **Elevation CLO Ltd.**  |  |  |
| 4.988% due 07/25/2034 •  | 6100 | 6095 |
| 5.158% due 01/25/2035 •  | 6600 | 6609 |
| 5.458% due 01/25/2035 •  | 1000 | 1005 |
| 5.708% due 01/25/2035 •  | 1000 | 1002 |
| **Flatiron CLO 19 Ltd.** <br>5.032% due 11/16/2034 •  | 2067 | 2068 |
| **Fortress Credit BSL VII Ltd.** <br>4.950% due 07/23/2032 •  | 957 | 958 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Fortress Credit BSL X Ltd.** <br>5.014% due 04/20/2033 •  | 3300 | 3304 |
| **Foundation Finance Trust** <br>4.670% due 04/15/2052 | 1085 | 1092 |
| **Gallatin CLO VIII Ltd.** <br>5.256% due 07/15/2031 •  | 6293 | 6297 |
| **GoldenTree Loan Management U.S. CLO 8 Ltd.** <br>5.034% due 10/20/2034 •  | 1000 | 1000 |
| **Golub Capital Partners CLO 50B-R Ltd.** <br>4.994% due 04/20/2035 •  | 8200 | 8200 |
| **GoodLeap Home Improvement Solutions Trust** <br>5.320% due 06/20/2049 | 3950 | 3996 |
| **GreatAmerica Leasing Receivables Funding LLC** <br>5.280% due 03/15/2027 | 7379 | 7410 |
| **GreenSky Home Improvement Issuer Trust**  |  |  |
| 4.340% due 12/27/2060  | 2200 | 2204 |
| 4.520% due 12/27/2060  | 3300 | 3310 |
| 4.590% due 12/27/2060  | 1450 | 1456 |
| 4.890% due 06/25/2060  | 1786 | 1801 |
| 4.930% due 06/25/2060  | 1352 | 1357 |
| 5.020% due 06/25/2060  | 900 | 914 |
| 5.120% due 03/25/2060  | 1468 | 1475 |
| 5.150% due 10/27/2059  | 727 | 740 |
| 5.220% due 03/25/2060  | 1094 | 1112 |
| 5.320% due 03/25/2060  | 2900 | 2972 |
| **GreenSky Home Improvement Trust**  |  |  |
| 5.550% due 06/25/2059  | 500 | 514 |
| 5.880% due 06/25/2059  | 321 | 322 |
| **Greywolf CLO III Ltd.**  |  |  |
| 5.087% due 04/22/2033 •  | 5576 | 5580 |
| 5.707% due 04/22/2033 •  | 2700 | 2711 |
| **Greywolf CLO IV Ltd.** <br>5.122% due 04/17/2034 •  | 2700 | 2703 |
| **Greywolf CLO VI Ltd.** <br>5.150% due 04/26/2031 •  | 255 | 255 |
| **Guggenheim CLO Ltd.** <br>5.055% due 01/15/2035 •  | 6250 | 6242 |
| **Home Partners of America Trust** <br>2.200% due 01/17/2041 | 4928 | 4646 |
| **ICG U.S. CLO Ltd.**  |  |  |
| 4.884% due 01/16/2033 •  | 1698 | 1700 |
| 5.034% due 10/20/2034 •  | 6700 | 6703 |
| **Invesco CLO Ltd.** <br>5.034% due 07/20/2035 •  | 7400 | 7401 |
| **Jamestown CLO XVI Ltd.** <br>4.978% due 07/25/2034 •  | 6500 | 6501 |
| **Jamestown CLO XVIII Ltd.** <br>5.128% due 07/25/2035 •  | 6700 | 6710 |
| **KKR CLO 16 Ltd.** <br>4.988% due 10/20/2034 •  | 14000 | 14005 |
| **KKR CLO 21 Ltd.** <br>5.166% due 04/15/2031 •  | 221 | 221 |
| **KKR CLO 27 Ltd.** <br>5.015% due 01/15/2035 •  | 2700 | 2700 |
| **KKR CLO 33 Ltd.** <br>4.993% due 07/20/2034 •  | 2800 | 2801 |
| **KKR CLO 36 Ltd.** <br>5.055% due 10/15/2034 •  | 10300 | 10303 |
| **KKR CLO 42 Ltd.** <br>5.034% due 07/20/2034 •  | 8700 | 8707 |
| **LCM 30 Ltd.** <br>5.226% due 04/20/2031 •  | 418 | 418 |
| **LCM 31 Ltd.** <br>5.164% due 07/20/2034 •  | 40900 | 40966 |
| **LCM 34 Ltd.** <br>5.064% due 10/20/2034 •  | 300 | 300 |
| **LCM 35 Ltd.** <br>4.985% due 10/15/2034 •  | 4400 | 4399 |
| **LCM Loan Income Fund I Ltd.** <br>5.176% due 04/20/2031 •  | 1327 | 1329 |
| **LendingPoint Pass-Through Trust** <br>5.700% due 07/15/2029 | 105 | 105 |
| **Lendmark Funding Trust**  |  |  |
| 4.470% due 02/21/2034  | 1600 | 1605 |
| 5.530% due 06/21/2032  | 800 | 811 |
| **M&T Equipment Notes** <br>4.700% due 12/16/2027 | 7700 | 7740 |
| **Madison Park Funding XLIX Ltd.** <br>4.934% due 10/19/2034 •  | 6250 | 6250 |
| **Madison Park Funding XLVI Ltd.** <br>4.905% due 10/15/2034 •  | 9200 | 9194 |
| **Madison Park Funding XXXIX Ltd.** <br>5.107% due 10/22/2034 •  | 1000 | 1001 |
| **Madison Park Funding XXXV Ltd.** <br>5.136% due 04/20/2032 •  | 1924 | 1925 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Magnetite XXV Ltd.** <br>5.320% due 01/25/2032 •  | 424 | 425 |
| **Marble Point CLO XXII Ltd.** <br>5.078% due 07/25/2034 •  | 7900 | 7908 |
| **Marlette Funding Trust** <br>7.130% due 12/15/2033 | 648 | 654 |
| **Massachusetts Educational Financing Authority** <br>5.525% due 04/25/2038 •  | 74 | 75 |
| **Mountain View CLO IX Ltd.** <br>5.286% due 07/15/2031 •  | 54 | 54 |
| **Mountain View CLO XIV Ltd.** <br>6.813% due 10/15/2034 •  | 6300 | 6302 |
| **Navesink CLO 2 Ltd.**  |  |  |
| 0.000% due 01/15/2036 •(c)  | 4800 | 4800 |
| 5.175% due 04/15/2036 •  | 2000 | 2000 |
| **Navient Education Loan Trust** <br>5.020% due 07/15/2055 | 2589 | 2620 |
| **Navient Private Education Loan Trust**  |  |  |
| 3.910% due 12/15/2045  | 147 | 147 |
| 5.315% due 07/16/2040 •  | 976 | 978 |
| **Navient Private Education Refi Loan Trust**  |  |  |
| 1.310% due 01/15/2069  | 741 | 702 |
| 1.330% due 04/15/2069  | 988 | 926 |
| 1.690% due 05/15/2069  | 634 | 599 |
| 2.600% due 08/15/2068  | 1026 | 993 |
| 4.865% due 04/15/2069 •  | 1112 | 1107 |
| **Navient Refinance Loan Trust** <br>5.150% due 02/16/2055 | 1483 | 1505 |
| **Navient Student Loan Trust**  |  |  |
| 4.845% due 12/15/2059 •  | 1831 | 1829 |
| 5.684% due 03/15/2072 •  | 4245 | 4286 |
| 7.230% due 03/15/2072  | 4300 | 4664 |
| **Nelnet Student Loan Trust**  |  |  |
| 4.670% due 06/22/2065  | 31345 | 31264 |
| 4.789% due 09/25/2065 •  | 5010 | 5017 |
| 4.840% due 05/17/2055  | 17030 | 17103 |
| 4.889% due 06/27/2067 •  | 12471 | 12492 |
| 5.268% due 06/22/2065 •  | 22936 | 23129 |
| 5.334% due 05/17/2055 •  | 16001 | 16131 |
| 6.118% due 02/20/2041 •  | 2881 | 2945 |
| 6.640% due 02/20/2041  | 2458 | 2561 |
| **Neuberger Berman Loan Advisers CLO 43 Ltd.** <br>4.932% due 07/17/2036 •  | 5300 | 5299 |
| **Neuberger Berman Loan Advisers CLO 45 Ltd.** <br>4.972% due 10/14/2036 •  | 6400 | 6397 |
| **Neuberger Berman Loan Advisers Lasalle Street Lending CLO I Ltd.** <br>5.140% due 10/25/2036 •  | 7600 | 7609 |
| **Newark BSL CLO 2 Ltd.** <br>5.090% due 07/25/2030 •  | 182 | 182 |
| **Northwoods Capital 25 Ltd.** <br>5.004% due 07/20/2034 •  | 7000 | 6989 |
| **Northwoods Capital XII-B Ltd.** <br>4.913% due 06/15/2031 •  | 1809 | 1811 |
| **Northwoods Capital XIV-B Ltd.** <br>5.091% due 11/13/2031 •  | 538 | 538 |
| **Ocean Trails CLO X** <br>5.205% due 10/15/2034 •  | 1000 | 1002 |
| **Ocean Trails CLO XI** <br>4.914% due 07/20/2034 •  | 7300 | 7282 |
| **Octagon Investment Partners 36 Ltd.** <br>5.136% due 04/15/2031 •  | 713 | 713 |
| **Octagon Investment Partners 39 Ltd.** <br>5.034% due 10/20/2030 •  | 1096 | 1098 |
| **Octagon Investment Partners 40 Ltd.** <br>4.924% due 01/20/2035 •  | 8900 | 8898 |
| **OFSI BSL X Ltd.** <br>5.154% due 04/20/2034 •  | 5200 | 5207 |
| **OneMain Financial Issuance Trust**  |  |  |
| 1.750% due 09/14/2035  | 1375 | 1354 |
| 5.484% due 09/15/2036 •  | 6000 | 6055 |
| **Oportun Funding Trust** <br>4.960% due 08/16/2032 | 732 | 733 |
| **Oportun Issuance Trust** <br>5.010% due 02/08/2033 | 1600 | 1600 |
| **OZLM XVIII Ltd.** <br>5.186% due 04/15/2031 •  | 557 | 557 |
| **Pagaya AI Debt Grantor Trust**  |  |  |
| 4.684% due 08/17/2026  | 4353 | 4357 |
| 4.865% due 10/15/2032  | 4283 | 4299 |
| 4.961% due 10/15/2032  | 302 | 303 |
| 5.065% due 03/15/2032  | 624 | 626 |
| 5.108% due 03/15/2033  | 600 | 604 |
| 5.156% due 07/15/2032  | 606 | 611 |
| 5.183% due 06/15/2032  | 908 | 913 |
| 5.331% due 01/15/2032  | 552 | 554 |
| 6.278% due 10/15/2031  | 343 | 345 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Pagaya AI Debt Grantor Trust & Pagaya AI Debt Trust** <br>6.093% due 11/15/2031 | 343 | 345 |
| **Pagaya AI Debt Selection Trust** <br>6.117% due 12/15/2031 | 4798 | 4831 |
| **Pagaya AI Debt Trust**  |  |  |
| 5.373% due 01/17/2033  | 1200 | 1211 |
| 6.258% due 10/15/2031  | 885 | 888 |
| 6.319% due 08/15/2031  | 373 | 375 |
| **Pagaya Point of Sale Holdings Grantor Trust** <br>5.715% due 01/20/2034 | 1800 | 1815 |
| **Parallel Ltd.** <br>5.015% due 07/15/2034 •  | 5700 | 5690 |
| **Park Avenue Institutional Advisers CLO Ltd.** <br>4.994% due 01/20/2034 •  | 4400 | 4403 |
| **Pikes Peak CLO 2** <br>5.104% due 10/11/2034 •  | 6000 | 6007 |
| **Pikes Peak CLO 4** <br>5.115% due 07/15/2034 •  | 6100 | 6105 |
| **Planet Fitness Master Issuer LLC** <br>5.274% due 12/06/2055 | 1100 | 1107 |
| **Post CLO Ltd.** <br>4.985% due 10/15/2034 •  | 16000 | 16001 |
| **PPM CLO 3 Ltd.** <br>5.002% due 07/17/2034 •  | 4300 | 4300 |
| **PPM CLO 5 Ltd.** <br>4.998% due 10/18/2034 •  | 7500 | 7500 |
| **RCKT Trust**  |  |  |
| 4.480% due 11/27/2034  | 760 | 761 |
| 4.900% due 07/25/2034  | 306 | 307 |
| **Reach ABS Trust**  |  |  |
| 4.930% due 08/18/2032  | 4520 | 4539 |
| 4.960% due 08/16/2032  | 1003 | 1006 |
| 5.880% due 07/15/2031  | 291 | 292 |
| **Regatta XVI Funding Ltd.** <br>5.105% due 01/15/2033 •  | 6141 | 6146 |
| **Regional Management Issuance Trust**  |  |  |
| 5.110% due 12/15/2033  | 1800 | 1815 |
| 5.830% due 07/15/2036  | 900 | 918 |
| **Riserva CLO Ltd.** <br>4.934% due 01/18/2034 •  | 5000 | 5000 |
| **Rockford Tower CLO Ltd.**  |  |  |
| 5.014% due 07/20/2034 •  | 2800 | 2801 |
| 5.084% due 07/20/2035 •  | 6400 | 6406 |
| **Romark CLO - IV Ltd.** <br>5.067% due 07/10/2034 •  | 5700 | 5703 |
| **Romark CLO V Ltd.** <br>5.095% due 01/15/2035 •  | 7800 | 7806 |
| **Romark Credit Funding II Ltd.** <br>2.625% due 10/25/2039 | 1000 | 950 |
| **Romark Credit Funding III Ltd.** <br>5.539% due 09/15/2042 | 2500 | 2509 |
| **Romark Credit Funding Ltd.** <br>5.423% due 07/29/2043 | 8300 | 8352 |
| **Romark WM-R Ltd.** <br>5.176% due 04/20/2031 •  | 2753 | 2756 |
| **Sandstone Peak Ltd.** <br>5.185% due 10/15/2034 •  | 6300 | 6311 |
| **Sculptor CLO XXVII Ltd.** <br>4.944% due 07/20/2034 •  | 5200 | 5200 |
| **Shenton Aircraft Investment I Ltd.** <br>4.750% due 10/15/2042 | 5135 | 5004 |
| **Silver Rock CLO II Ltd.** <br>4.924% due 01/20/2035 •  | 5000 | 5000 |
| **SLC Student Loan Trust** <br>5.294% due 06/15/2040 •  | 1515 | 1503 |
| **SLM Private Credit Student Loan Trust** <br>4.315% due 06/15/2039 •  | 770 | 751 |
| **SLM Student Loan Trust**  |  |  |
| 5.594% due 12/15/2033 •  | 9481 | 9389 |
| 6.275% due 01/27/2026 •  | 1903 | 1915 |
| **SMB Private Education Loan Trust**  |  |  |
| 1.600% due 09/15/2054  | 9557 | 9067 |
| 3.940% due 02/16/2055  | 9870 | 9673 |
| 4.696% due 09/15/2054 •  | 4048 | 4037 |
| 5.020% due 03/17/2053  | 6558 | 6617 |
| 5.060% due 03/16/2054  | 3026 | 3067 |
| 5.074% due 06/17/2052 •  | 718 | 718 |
| 5.074% due 07/15/2053 •  | 16492 | 16383 |
| 5.090% due 10/16/2056  | 1641 | 1669 |
| 5.240% due 03/15/2056  | 5603 | 5707 |
| 5.380% due 01/15/2053  | 294 | 299 |
| 5.380% due 07/15/2053  | 34840 | 35598 |
| 5.434% due 02/16/2055 •  | 12289 | 12414 |
| 5.434% due 03/15/2056 •  | 4944 | 4997 |
| 5.500% due 06/17/2052  | 3033 | 3116 |
| 5.834% due 05/16/2050 •  | 603 | 612 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **SoFi Consumer Loan Program Trust**  |  |  |
| 4.240% due 08/25/2035  | 4781 | 4787 |
| 4.470% due 08/15/2034  | 4632 | 4647 |
| 4.800% due 02/27/2034  | 928 | 932 |
| 4.820% due 06/25/2034  | 9651 | 9709 |
| **SoFi Professional Loan Program LLC**  |  |  |
| 1.950% due 02/15/2046  | 678 | 639 |
| 2.370% due 11/16/2048  | 8090 | 7852 |
| **Sound Point CLO XIX Ltd.** <br>5.166% due 04/15/2031 •  | 1585 | 1586 |
| **Sound Point CLO XVIII Ltd.** <br>5.266% due 01/21/2031 •  | 236 | 237 |
| **Sound Point CLO XX Ltd.** <br>5.220% due 07/26/2031 •  | 1618 | 1619 |
| **Sound Point CLO XXIII** <br>5.336% due 07/15/2034 •  | 7000 | 7022 |
| **Sound Point CLO XXVII Ltd.** <br>5.300% due 10/25/2034 •  | 3500 | 3512 |
| **Sound Point CLO XXVIII Ltd.** <br>5.138% due 01/25/2032 •  | 3249 | 3252 |
| **Sounds Point CLO IV-R Ltd.** <br>5.296% due 04/18/2031 •  | 3221 | 3222 |
| **Steele Creek CLO Ltd.** <br>5.176% due 04/15/2031 •  | 871 | 872 |
| **Sunbit Asset Securitization Trust** <br>5.360% due 07/15/2030 | 2900 | 2921 |
| **Symphony CLO 36 Ltd.**  |  |  |
| 0.000% due 01/20/2036 •(c)  | 7000 | 7000 |
| 5.305% due 01/16/2031 •  | 16 | 16 |
| **Symphony CLO 37 Ltd.** <br>5.684% due 01/20/2037 •  | 1700 | 1711 |
| **Symphony CLO XXII Ltd.** <br>5.064% due 04/18/2033 •  | 2011 | 2013 |
| **Symphony CLO XXIV Ltd.** <br>5.261% due 10/23/2035 •  | 4700 | 4699 |
| **Symphony CLO XXIX Ltd.** <br>5.433% due 10/15/2035 •  | 7300 | 7300 |
| **Symphony CLO XXV Ltd.** <br>4.874% due 04/19/2034 •  | 9000 | 9000 |
| **Symphony CLO XXXII Ltd.** <br>5.419% due 10/23/2035 | 9200 | 9200 |
| **T-Mobile U.S. Trust** <br>4.250% due 05/21/2029 | 2700 | 2714 |
| **TCI-Symphony CLO Ltd.** <br>5.193% due 10/13/2032 •  | 17578 | 17588 |
| **TCW CLO AMR Ltd.** <br>5.151% due 08/16/2034 •  | 7200 | 7205 |
| **Tesla Sustainable Energy Trust** <br>5.290% due 06/20/2050 | 600 | 603 |
| **Thayer Park CLO Ltd.** <br>4.868% due 04/20/2034 •  | 3800 | 3798 |
| **THL Credit Wind River CLO Ltd.** <br>5.105% due 04/15/2035 •  | 12300 | 12311 |
| **TIAA CLO IV Ltd.** <br>5.024% due 01/20/2032 •  | 9001 | 9006 |
| **Tralee CLO V Ltd.** <br>4.964% due 10/20/2034 •  | 4700 | 4699 |
| **Tricon American Homes**  |  |  |
| 1.499% due 07/17/2038  | 26255 | 25859 |
| 2.049% due 07/17/2038  | 5280 | 5204 |
| 2.249% due 07/17/2038  | 3300 | 3253 |
| **Trinitas CLO VI Ltd.** <br>4.968% due 01/25/2034 •  | 7200 | 7203 |
| **Trinitas CLO VII Ltd.** <br>4.918% due 01/25/2035 •  | 5300 | 5300 |
| **Trinitas CLO VIII Ltd.** <br>5.246% due 07/20/2031 •  | 34 | 34 |
| **Trinitas CLO XIX Ltd.** <br>4.994% due 10/20/2033 •  | 5896 | 5903 |
| **Trinitas CLO XVII Ltd.** <br>5.034% due 10/20/2034 •  | 10700 | 10704 |
| **Trinitas CLO XX Ltd.** <br>4.924% due 07/20/2035 •  | 4100 | 4091 |
| **Trysail CLO Ltd.** <br>5.123% due 10/20/2033 •  | 1000 | 1001 |
| **Upstart Pass-Through Trust** <br>7.900% due 10/20/2028 | 3074 | 3110 |
| **Upstart Securitization Trust** <br>4.600% due 09/20/2035 | 2200 | 2206 |
| **Upstart Structured Pass-Through Trust** <br>4.250% due 06/17/2030 | 144 | 144 |
| **UPX HIL Issuer Trust** <br>5.160% due 01/25/2047 | 868 | 875 |
| **Venture 33 CLO Ltd.** <br>5.226% due 07/15/2031 •  | 388 | 388 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Venture 44 CLO Ltd.** <br>5.024% due 10/20/2034 •  | 800 | 800 |
| **Venture XXIX CLO Ltd.** <br>5.103% due 09/07/2030 •  | 319 | 319 |
| **Venture XXVII CLO Ltd.** <br>5.196% due 07/20/2030 •  | 213 | 213 |
| **Verdelite Static CLO Ltd.** <br>5.014% due 07/20/2032 •  | 64098 | 64115 |
| **Voya CLO Ltd.**  |  |  |
| 4.944% due 04/20/2034 •  | 12400 | 12399 |
| 5.084% due 07/20/2032 •  | 1798 | 1800 |
| 5.223% due 10/17/2032 •  | 22391 | 22409 |
| **Voya Ltd.** <br>5.166% due 10/15/2030 •  | 516 | 517 |
| **Wellfleet CLO Ltd.** <br>5.055% due 07/15/2034 •  | 5300 | 5302 |
| **Wind River CLO Ltd.**  |  |  |
| 4.965% due 10/15/2034 •  | 4824 | 4813 |
| 4.994% due 07/20/2034 •  | 7900 | 7902 |
|  |  | 1534514 |
| Total Asset-Backed Securities (Cost $4,708,250) |  | 4623212 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.2%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.850% (g) | 1316491 | 1316 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **SHORT-TERM NOTES 0.2%**  |  |  |
| **AmeriCredit Automobile Receivables Trust**<br>4.185% due 11/18/2026 | $11637 | 11642 |
| **Arivo Acceptance Auto Loan Receivables Trust**<br>4.712% due 07/15/2026 | 303 | 303 |
| **Pagaya AI Debt Trust**<br>4.858% due 06/15/2026 | 896 | 896 |
| **PenFed Auto Receivables Owner Trust**<br>4.178% due 09/15/2026 | 475 | 475 |
| **Upstart Securitization Trust**<br>4.503% due 08/20/2026 | 2755 | 2757 |
|  |  | 16073 |
| **U.S. TREASURY BILLS 0.0%**  |  |  |
| 3.862% due 03/03/2026 - 03/10/2026 (d)(e)(k) | 777 | 772 |
| Total Short-Term Instruments (Cost $18,154) |  | 18161 |
| Total Investments in Securities (Cost $11,853,085) |  | 11717575 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 16.2%**  |  |  |
| **SHORT-TERM INSTRUMENTS 16.2%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 16.2%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 137068638 | 1335186 |
| Total Short-Term Instruments (Cost $1,334,507) |  | 1335186 |
| Total Investments in Affiliates (Cost $1,334,507) |  | 1335186 |
| Total Investments 158.9% (Cost $13,187,592) |  | $13052761 |
| **Financial Derivative Instruments (h)(j) 0.1**%(Cost or Premiums, net $50,338) |  | 6612 |
| Other Assets and Liabilities, net (59.0)% |  | (4843461) |
| Net Assets 100.0% |  | $8215912 |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 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).** |
| **~** | **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)** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** |
| **(b)** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** |
| **(c)** | **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.** |
| **(d)** | **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.** |
| **(e)** | **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.** |
| **(f)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **(g)** | **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.** |
| **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** |
| **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Description | Maturity<br>Date | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% | U.S. Government Agencies (1.1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 01/01/2056 | 01/01/2056 | $90575 | 90575 | (92733) | $(93010) |
| **Total Short Sales (1.1)%** | **Total Short Sales (1.1)%** | **Total Short Sales (1.1)%** | **Total Short Sales (1.1)%** | **Total Short Sales (1.1)%** |  |  |  |  | **(92733)** | $**(93010)** |
| **(h)** | **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> |
| Description | Description | Expiration<br>Month | # 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 | Liability |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 3106 | $648499 | 648499 | $(46) | (46) | (46) | 0 | (219) |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 430 | 50740 | 50740 | (632) | (632) | (632) | 0 | (161) |
|  |  |  |  |  |  | (678) | (678) | $ | $ | (380) |
| **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> |
| Description | Description | Expiration<br>Month | # 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 | Liability |
| 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 03/2026 | 104 | $(25041) | (25041) | $399 | 399 | 399 | 0 | 0 |
| 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 06/2026 | 99 | (23880) | (23880) | 331 | 331 | 331 | 2 | 0 |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 7601 | (830825) | (830825) | 1761 | 1761 | 1761 | 891 | 0 |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 11594 | (1303600) | (1303600) | 6194 | 6194 | 6194 | 2355 | 0 |
| U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | 03/2026 | 748 | (86464) | (86464) | 653 | 653 | 653 | 164 | 0 |
|  |  |  |  |  |  | 9338 | 9338 | $ | $ | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **8660** | **8660** | **$** | **$** | **(380)** |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.300% | Annual | 01/17/2026 | $15800 | $7 | $317 | 324 | $2 | $0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 0.928 | Semi-Annual | 05/06/2026 | 10100 | (11) | 167 | 156 | 2 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 0.500 | Semi-Annual | 06/16/2026 | 69500 | (1301) | 115 | (1186) | 0 | (17) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Semi-Annual | 06/19/2026 | 176400 | (2985) | 3819 | 834 | 30 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/21/2026 | 70230 | 3 | 321 | 324 | 6 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.250 | Semi-Annual | 12/15/2026 | 2500 | (40) | 102 | 62 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Semi-Annual | 12/21/2026 | 105400 | 2374 | (314) | 2060 | 37 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.380 | Semi-Annual | 01/04/2027 | 14500 | (21) | (368) | (389) | 0 | (6) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.570 | Semi-Annual | 01/12/2027 | 5300 | (7) | (119) | (126) | 0 | (2) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.425 | Semi-Annual | 01/18/2027 | 10200 | (18) | (243) | (261) | 0 | (4) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.418 | Semi-Annual | 01/20/2027 | 5000 | (5) | (125) | (130) | 0 | (2) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.580 | Semi-Annual | 02/16/2027 | 10400 | (20) | (215) | (235) | 0 | (4) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.573 | Annual | 02/28/2027 | 6800 | (12) | (287) | (299) | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.928 | Annual | 03/25/2027 | 11500 | (24) | (391) | (415) | 0 | (4) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.620 | Annual | 04/18/2027 | 10700 | (34) | (405) | (439) | 0 | (2) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.783 | Annual | 04/22/2027 | 8000 | (28) | (275) | (303) | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.788 | Annual | 05/03/2027 | 8100 | (28) | (273) | (301) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.000 | Annual | 06/15/2027 | 12600 | 501 | 144 | 645 | 6 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.250 | Annual | 06/17/2027 | 17800 | (71) | (403) | (474) | 0 | (8) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 06/21/2027 | 13600 | 517 | (93) | 424 | 7 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.370 | Annual | 06/21/2027 | 12300 | (50) | (245) | (295) | 0 | (5) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.605 | Annual | 06/28/2027 | 12100 | (61) | (170) | (231) | 0 | (5) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.850 | Annual | 08/30/2027 | 11700 | (59) | (84) | (143) | 0 | (6) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.050 | Annual | 09/07/2027 | 5900 | (30) | (17) | (47) | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.900 | Annual | 10/04/2027 | 36450 | (265) | (99) | (364) | 0 | (19) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.638 | Annual | 05/31/2028 | 4800 | 0 | (18) | (18) | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.655 | Annual | 05/31/2028 | 9500 | 0 | (40) | (40) | 7 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.807 | Annual | 05/31/2028 | 3400 | 0 | (29) | (29) | 3 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 0.500 | Semi-Annual | 06/16/2028 | 62849 | (2404) | (2267) | (4671) | 0 | (56) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2028 | 1100 | (4) | (4) | (8) | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/21/2028 | 26150 | (3) | 184 | 181 | 20 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.265 | Semi-Annual | 09/28/2028 | 8100 | (10) | (462) | (472) | 0 | (8) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 12/15/2028 | 35446 | 583 | (2732) | (2149) | 0 | (39) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/20/2028 | 207390 | (314) | 2718 | 2404 | 0 | (192) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.379 | Semi-Annual | 12/22/2028 | 7800 | (2) | 501 | 499 | 9 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.518 | Semi-Annual | 01/20/2029 | 3000 | (5) | (184) | (189) | 0 | (4) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.630 | Semi-Annual | 01/26/2029 | 5100 | (10) | (290) | (300) | 0 | (6) |

---

------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.618 | Annual | 02/09/2029 | 68400 | (163) | (4991) | (5154) | 0 | (74) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.567 | Annual | 11/30/2029 | 497600 | 0 | 3064 | 3064 | 0 | (642) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 12/10/2029 | 14800 | (22) | 953 | 931 | 22 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 12/18/2029 | 11800 | 250 | 711 | 961 | 17 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2029 | 117740 | 215 | (1770) | (1555) | 153 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Semi-Annual | 01/15/2030 | 38000 | (327) | 3131 | 2804 | 57 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 02/12/2030 | 28600 | (363) | 2156 | 1793 | 43 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 03/10/2030 | 14100 | (13) | 888 | 875 | 22 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 03/19/2030 | 78600 | 3058 | (980) | 2078 | 112 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.250 | Semi-Annual | 06/17/2030 | 320180 | 9752 | 23037 | 32789 | 511 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2030 | 1085170 | (17257) | 3503 | (13754) | 0 | (1625) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 06/21/2030 | 182090 | 2143 | 2268 | 4411 | 274 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2030 | 104640 | (1544) | 242 | (1302) | 163 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.545 | Annual | 10/31/2030 | 16900 | 0 | (61) | (61) | 27 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.547 | Annual | 10/31/2030 | 39300 | 0 | (143) | (143) | 63 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.550 | Annual | 10/31/2030 | 33800 | 0 | (129) | (129) | 54 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.572 | Annual | 10/31/2030 | 33500 | 0 | (162) | (162) | 53 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.582 | Annual | 10/31/2030 | 60500 | 0 | (318) | (318) | 96 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.595 | Annual | 10/31/2030 | 42300 | 0 | (249) | (249) | 67 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.601 | Annual | 10/31/2030 | 76200 | 0 | (468) | (468) | 121 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.602 | Annual | 10/31/2030 | 76100 | 0 | (473) | (473) | 121 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.606 | Annual | 10/31/2030 | 33700 | 0 | (216) | (216) | 54 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.623 | Annual | 10/31/2030 | 33600 | 0 | (241) | (241) | 53 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.664 | Annual | 10/31/2030 | 22300 | 0 | (202) | (202) | 35 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.677 | Annual | 10/31/2030 | 17800 | 0 | (172) | (172) | 28 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.687 | Annual | 10/31/2030 | 28300 | 0 | (287) | (287) | 45 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.689 | Annual | 10/31/2030 | 47100 | 0 | (481) | (481) | 75 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.691 | Annual | 10/31/2030 | 35700 | 0 | (368) | (368) | 57 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.721 | Annual | 10/31/2030 | 22300 | 0 | (261) | (261) | 35 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.722 | Annual | 10/31/2030 | 22300 | 0 | (262) | (262) | 35 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.727 | Annual | 10/31/2030 | 22300 | 0 | (267) | (267) | 35 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.732 | Annual | 10/31/2030 | 14800 | 0 | (180) | (180) | 24 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.735 | Annual | 10/31/2030 | 22300 | 0 | (275) | (275) | 35 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.739 | Annual | 10/31/2030 | 22300 | 0 | (279) | (279) | 35 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.749 | Annual | 10/31/2030 | 22300 | 0 | (290) | (290) | 35 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.000 | Semi-Annual | 12/16/2030 | 9102 | 29 | 1116 | 1145 | 15 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2030 | 15430 | (269) | 63 | (206) | 25 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2030 | 204570 | 1606 | (1977) | (371) | 332 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.250 | Annual | 03/20/2031 | 17670 | (812) | 171 | (641) | 30 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 0.750 | Semi-Annual | 06/16/2031 | 44422 | (3235) | (3485) | (6720) | 0 | (79) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2031 | 467700 | 6337 | (11027) | (4690) | 804 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.405 | Semi-Annual | 09/07/2031 | 10100 | (44) | 1266 | 1222 | 18 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 10/05/2031 | 6100 | (14) | (757) | (771) | 0 | (11) |

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------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.535 | Semi-Annual | 10/15/2031 | 6100 | (10) | (748) | (758) | 0 | (11) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.535 | Semi-Annual | 10/22/2031 | 4000 | (9) | (487) | (496) | 0 | (7) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.545 | Semi-Annual | 10/26/2031 | 4000 | (8) | (486) | (494) | 0 | (7) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2031 | 33720 | 47 | (453) | (406) | 59 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.735 | Semi-Annual | 01/12/2032 | 4000 | (10) | (447) | (457) | 0 | (7) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.655 | Semi-Annual | 01/24/2032 | 5000 | (14) | (580) | (594) | 0 | (9) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.768 | Semi-Annual | 02/02/2032 | 3800 | (11) | (413) | (424) | 0 | (7) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.650 | Annual | 02/08/2032 | 6400 | (24) | (794) | (818) | 0 | (11) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.988 | Semi-Annual | 02/09/2032 | 1900 | 10 | 177 | 187 | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.008 | Semi-Annual | 02/09/2032 | 3100 | 12 | 291 | 303 | 6 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.770 | Annual | 02/14/2032 | 5700 | (20) | (665) | (685) | 0 | (10) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.730 | Annual | 02/24/2032 | 6100 | (23) | (723) | (746) | 0 | (11) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.765 | Annual | 03/16/2032 | 2100 | (10) | (241) | (251) | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 03/19/2032 | 88270 | 3344 | (1154) | 2190 | 158 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.817 | Annual | 04/05/2032 | 23300 | (115) | (2579) | (2694) | 0 | (42) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.872 | Annual | 04/06/2032 | 11800 | (61) | (1263) | (1324) | 0 | (21) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.694 | Annual | 04/30/2032 | 329800 | 0 | 2224 | 2224 | 0 | (591) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.674 | Annual | 05/31/2032 | 333400 | 0 | 1769 | 1769 | 0 | (599) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.678 | Annual | 05/31/2032 | 270200 | 0 | 1499 | 1499 | 0 | (486) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.680 | Annual | 05/31/2032 | 333700 | 0 | 1873 | 1873 | 0 | (600) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.705 | Annual | 05/31/2032 | 298700 | 0 | 2142 | 2142 | 0 | (537) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.250 | Annual | 06/15/2032 | 71100 | (5283) | (5388) | (10671) | 0 | (131) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2032 | 51180 | (2503) | (3553) | (6056) | 0 | (93) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2032 | 11890 | 153 | 126 | 279 | 22 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.680 | Annual | 07/11/2032 | 1100 | (15) | (50) | (65) | 0 | (2) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.690 | Annual | 07/11/2032 | 1100 | (15) | (49) | (64) | 0 | (2) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.050 | Annual | 09/06/2032 | 8900 | (74) | (235) | (309) | 0 | (16) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2032 | 97750 | (1707) | 801 | (906) | 179 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2032 | 67330 | (1146) | 504 | (642) | 125 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.430 | Annual | 02/27/2033 | 2500 | (10) | (37) | (47) | 0 | (5) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.405 | Annual | 03/01/2033 | 2600 | (11) | (42) | (53) | 0 | (5) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.425 | Annual | 03/01/2033 | 780 | (3) | (12) | (15) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.300 | Annual | 03/06/2033 | 2600 | (9) | (64) | (73) | 0 | (5) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.450 | Annual | 03/07/2033 | 5000 | (18) | (69) | (87) | 0 | (9) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 06/21/2033 | 1530 | (9) | (65) | (74) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 06/21/2033 | 14105 | 141 | 535 | 676 | 27 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2033 | 22500 | (969) | 712 | (257) | 0 | (45) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2033 | 30600 | 849 | (483) | 366 | 66 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2034 | 50910 | (1373) | 1427 | 54 | 0 | (110) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2034 | 14440 | (97) | 73 | (24) | 32 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2035 | 943940 | 47260 | (3582) | 43678 | 2139 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2035 | 8600 | (145) | 175 | 30 | 20 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.524 | Semi-Annual | 01/19/2051 | 23500 | (169) | (10706) | (10875) | 0 | (57) |

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------

<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.250 | Semi-Annual | 06/16/2051 | 06/16/2051 | 65800 | 65800 |  | 12519 | 12519 |  | 20923 | 20923 |  | 33442 | 33442 |  | 156 | 156 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.967 | Semi-Annual | 06/23/2051 | 06/23/2051 | 22900 | 22900 |  | (173) | (173) |  | 9237 | 9237 |  | 9064 | 9064 |  | 59 | 59 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.968 | Semi-Annual | 06/23/2051 | 06/23/2051 | 69000 | 69000 |  | (526) | (526) |  | 27825 | 27825 |  | 27299 | 27299 |  | 177 | 177 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.815 | Semi-Annual | 01/24/2052 | 01/24/2052 | 1000 | 1000 |  | (8) | (8) |  | (416) | (416) |  | (424) | (424) |  | 0 | 0 |  | (3) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.867 | Semi-Annual | 01/26/2052 | 01/26/2052 | 1000 | 1000 |  | (9) | (9) |  | (407) | (407) |  | (416) | (416) |  | 0 | 0 |  | (3) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2052 | 06/15/2052 | 174500 | 174500 |  | 20937 | 20937 |  | 50022 | 50022 |  | 70959 | 70959 |  | 450 | 450 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.080 | Annual | 02/23/2053 | 02/23/2053 | 1300 | 1300 |  | (12) | (12) |  | (236) | (236) |  | (248) | (248) |  | 0 | 0 |  | (4) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 2.750 | Annual | 06/21/2053 | 06/21/2053 | 44800 | 44800 |  | 4229 | 4229 |  | 6659 | 6659 |  | 10888 | 10888 |  | 131 | 131 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 12/20/2053 | 12/20/2053 | 109800 | 109800 |  | 5438 | 5438 |  | 11455 | 11455 |  | 16893 | 16893 |  | 341 | 341 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2055 | 06/18/2055 | 166700 | 166700 |  | (22712) | (22712) |  | (4228) | (4228) |  | (26940) | (26940) |  | 0 | 0 |  | (515) |
| **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** | **$** | $**53118** | **53118** | **53118** | $**109828** | **109828** | **109828** | $**162946** | **162946** | **162946** | $**8066** | **8066** | **$** | $**(6801)** | **(6801)** |
| **(i)** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $67,907 and cash of $6,446 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| **(j)** | **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** | **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:** | **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 ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(3)</sup> | <u>Swap Agreements, at Value</u><sup>(3)</sup> | <u>Swap Agreements, at Value</u><sup>(3)</sup> |
| Counterparty | Counterparty | Counterparty | Reference Obligation | Reference Obligation | Reference Obligation | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount<sup>(2)</sup> | Notional<br>Amount<sup>(2)</sup> | Notional<br>Amount<sup>(2)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset |  | Liability |
| BOA | BOA | BOA | Long Beach Mortgage Loan Trust 6.584% due 07/25/2033  | Long Beach Mortgage Loan Trust 6.584% due 07/25/2033  | Long Beach Mortgage Loan Trust 6.584% due 07/25/2033  | 6.250% | 6.250% | Monthly | 07/25/2033 | 07/25/2033 | 07/25/2033 | $48 | 48 | 48 | $0 | 0 | 0 | $0 | 0 | 0 | 0 | $ | $0 |
| GST | GST | GST | Structured Asset Investment Loan Trust 5.034% due 11/25/2034  | Structured Asset Investment Loan Trust 5.034% due 11/25/2034  | Structured Asset Investment Loan Trust 5.034% due 11/25/2034  | 1.950 | 1.950 | Monthly | 11/25/2034 | 11/25/2034 | 11/25/2034 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $0 | 0 | 0 | $0 | 0 | 0 | 0 | $ | $0 |
| **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> | **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> | **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>(3)</sup> | <u>Swap Agreements, at Value</u><sup>(3)</sup> | <u>Swap Agreements, at Value</u><sup>(3)</sup> |
| Counterparty | Counterparty | Counterparty | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date |  | Notional<br>Amount<sup>(2)</sup> | Notional<br>Amount<sup>(2)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset |  | Liability |
| BOA | BOA | BOA | ABX.HE.AAA.6-2 Index « | ABX.HE.AAA.6-2 Index « | ABX.HE.AAA.6-2 Index « | ABX.HE.AAA.6-2 Index « | 0.110% | 0.110% | Monthly | 05/25/2046 | 05/25/2046 | $ | 7506 | 7506 | (2179) | (2179) | (2179) | 1590 | 1590 | 1590 | 0 | $ | (589) |
| DUB | DUB | DUB | ABX.HE.AA.6-2 Index « | ABX.HE.AA.6-2 Index « | ABX.HE.AA.6-2 Index « | ABX.HE.AA.6-2 Index « | 0.170 | 0.170 | Monthly | 05/25/2046 | 05/25/2046 |  | 103 | 103 | (42) | (42) | (42) | 26 | 26 | 26 | 0 |  | (16) |
|  |  |  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | 0.500 | 0.500 | Monthly | 05/11/2063 | 05/11/2063 |  | 36 | 36 | (1) | (1) | (1) | 1 | 1 | 1 | 0 |  | 0 |
| GST | GST | GST | CMBX.NA.AAA.11 Index  | CMBX.NA.AAA.11 Index  | CMBX.NA.AAA.11 Index  | CMBX.NA.AAA.11 Index  | 0.500 | 0.500 | Monthly | 11/18/2054 | 11/18/2054 |  | 29989 | 29989 | 232 | 232 | 232 | (56) | (56) | (56) | 176 |  | 0 |
|  |  |  | CMBX.NA.AAA.13 Index  | CMBX.NA.AAA.13 Index  | CMBX.NA.AAA.13 Index  | CMBX.NA.AAA.13 Index  | 0.500 | 0.500 | Monthly | 12/16/2072 | 12/16/2072 |  | 160600 | 160600 | (84) | (84) | (84) | 929 | 929 | 929 | 845 |  | 0 |
|  |  |  | CMBX.NA.AAA.8 Index  | CMBX.NA.AAA.8 Index  | CMBX.NA.AAA.8 Index  | CMBX.NA.AAA.8 Index  | 0.500 | 0.500 | Monthly | 10/17/2057 | 10/17/2057 |  | 22 | 22 | (1) | (1) | (1) | 1 | 1 | 1 | 0 |  | 0 |
|  |  |  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | 0.500 | 0.500 | Monthly | 09/17/2058 | 09/17/2058 |  | 2374 | 2374 | (113) | (113) | (113) | 113 | 113 | 113 | 0 |  | 0 |
| JPS | JPS | JPS | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | 0.500 | 0.500 | Monthly | 11/17/2059 | 11/17/2059 |  | 3900 | 3900 | (73) | (73) | (73) | 85 | 85 | 85 | 12 |  | 0 |
|  |  |  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | 0.500 | 0.500 | Monthly | 05/11/2063 | 05/11/2063 |  | 33 | 33 | (1) | (1) | (1) | 1 | 1 | 1 | 0 |  | 0 |
|  |  |  | CMBX.NA.AAA.8 Index  | CMBX.NA.AAA.8 Index  | CMBX.NA.AAA.8 Index  | CMBX.NA.AAA.8 Index  | 0.500 | 0.500 | Monthly | 10/17/2057 | 10/17/2057 |  | 965 | 965 | (44) | (44) | (44) | 44 | 44 | 44 | 0 |  | 0 |
| MYC | MYC | MYC | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | 0.500 | 0.500 | Monthly | 08/17/2061 | 08/17/2061 |  | 13500 | 13500 | (38) | (38) | (38) | 122 | 122 | 122 | 84 |  | 0 |
|  |  |  | CMBX.NA.AAA.13 Index  | CMBX.NA.AAA.13 Index  | CMBX.NA.AAA.13 Index  | CMBX.NA.AAA.13 Index  | 0.500 | 0.500 | Monthly | 12/16/2072 | 12/16/2072 |  | 11900 | 11900 | (5) | (5) | (5) | 68 | 68 | 68 | 63 |  | 0 |
|  |  |  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | 0.500 | 0.500 | Monthly | 05/11/2063 | 05/11/2063 |  | 7 | 7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | 0 |
| SAL | SAL | SAL | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | 0.500 | 0.500 | Monthly | 11/17/2059 | 11/17/2059 |  | 61500 | 61500 | (588) | (588) | (588) | 773 | 773 | 773 | 185 |  | 0 |
|  |  |  | CMBX.NA.AAA.11 Index  | CMBX.NA.AAA.11 Index  | CMBX.NA.AAA.11 Index  | CMBX.NA.AAA.11 Index  | 0.500 | 0.500 | Monthly | 11/18/2054 | 11/18/2054 |  | 55079 | 55079 | 197 | 197 | 197 | 126 | 126 | 126 | 323 |  | 0 |
|  |  |  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | 0.500 | 0.500 | Monthly | 08/17/2061 | 08/17/2061 |  | 135000 | 135000 | (340) | (340) | (340) | 1178 | 1178 | 1178 | 838 |  | 0 |
|  |  |  | CMBX.NA.AAA.13 Index  | CMBX.NA.AAA.13 Index  | CMBX.NA.AAA.13 Index  | CMBX.NA.AAA.13 Index  | 0.500 | 0.500 | Monthly | 12/16/2072 | 12/16/2072 |  | 75000 | 75000 | 300 | 300 | 300 | 95 | 95 | 95 | 395 |  | 0 |
| UAG | UAG | UAG | ABX.HE.AA.7-1 Index « | ABX.HE.AA.7-1 Index « | ABX.HE.AA.7-1 Index « | ABX.HE.AA.7-1 Index « | 0.150 | 0.150 | Monthly | 08/25/2037 | 08/25/2037 |  | 15 | 15 | 0 | 0 | 0 | (1) | (1) | (1) | 0 |  | (1) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2780) | (2780) | (2780) | 5095 | 5095 | 5095 | 2921 | $ | (606) |
| **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** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **(2780)** | **(2780)** | **(2780)** | **5095** | **5095** | **5095** | **2921** | **$** | **(606)** |
| **(k)** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $789 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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> | The maximum potential amount the Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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>(3)</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. | 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. |

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<br> Schedule of Investments PIMCO ABS and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | |
|:---|:---|:---|:---|:---|
| **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 12/31/2025 |
| **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** |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | $0 | $16149 | $0 | $16149 |
| Industrials | 0 | 1321 | 0 | 1321 |
| U.S. Government Agencies | 0 | 5315836 | 0 | 5315836 |
| U.S. Treasury Obligations | 0 | 87017 | 0 | 87017 |
| Non-Agency Mortgage-Backed Securities | 0 | 1646123 | 9756 | 1655879 |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| Automobile ABS Other | 0 | 16402 | 0 | 16402 |
| Automobile Sequential | 0 | 1231397 | 0 | 1231397 |
| CMBS Other | 0 | 151689 | 0 | 151689 |
| Credit Card Other | 0 | 58903 | 0 | 58903 |
| Home Equity Other | 0 | 1321811 | 0 | 1321811 |
| Home Equity Sequential | 0 | 3756 | 0 | 3756 |
| Manufacturing House ABS Other | 0 | 6 | 0 | 6 |
| Manufacturing House Sequential | 0 | 4572 | 0 | 4572 |
| Whole Loan Collateral | 0 | 298260 | 1902 | 300162 |
| Other ABS | 0 | 1534514 | 0 | 1534514 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | 0 | 1316 | 0 | 1316 |
| Short-Term Notes | 0 | 16073 | 0 | 16073 |
| U.S. Treasury Bills | 0 | 772 | 0 | 772 |
|  | $0 | $11705917 | $11658 | $11717575 |
| **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 | $1335186 | $0 | $0 | $1335186 |
| Total Investments | $1335186 | $11705917 | $11658 | $13052761 |
| **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  |
| U.S. Government Agencies | $0 | $(93010) | $0 | $(93010) |
| **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |
| Exchange-traded or centrally cleared | 0 | 11478 | 0 | 11478 |
| Over the counter | 0 | 2921 | 0 | 2921 |
|  | $0 | $14399 | $0 | $14399 |
| **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  |
| Exchange-traded or centrally cleared | 0 | (7181) | 0 | (7181) |
| Over the counter | 0 | (16) | (590) | (606) |
|  | $0 | $(7197) | $(590) | $(7787) |
| Total Financial Derivative Instruments | $0 | $7202 | $(590) | $6612 |
| Totals | $1335186 | $11620109 | $11068 | $12966363 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund December 31, 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)** |
|  | PRINCIPAL<br>AMOUNT<br>(000s) | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 185.8% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 0.3%**  |  |  |
| **Bank of Industry Ltd.**<br>3.754% - 9.719% (EUR003M + 1.700%) due 08/23/2027 ~ | 3100 | $3633 |
| **Panama Government International Bonds**<br>4.546% - 9.606% (EUR006M + 2.450%) due 04/01/2027 «~ | 2000 | 2374 |
| Total Loan Participations and Assignments (Cost $5,420) |  | 6007 |
| **CORPORATE BONDS & NOTES 4.6%**  |  |  |
| **BANKING & FINANCE 3.2%**  |  |  |
| **American Express Co.** <br>5.442% due 01/30/2036 •  | $3900 | 4053 |
| **ARES Strategic Income Fund** <br>5.450% due 09/09/2028 | 5700 | 5752 |
| **Athene Global Funding** <br>5.033% due 07/17/2030 | 8800 | 8871 |
| **Avolon Holdings Funding Ltd.** <br>2.528% due 11/18/2027 | 1210 | 1174 |
| **Bank of Nova Scotia** <br>5.450% due 08/01/2029 | 3700 | 3857 |
| **Barclays PLC**  |  |  |
| 6.224% due 05/09/2034 •  | 500 | 538 |
| 7.437% due 11/02/2033 •  | 2800 | 3203 |
| **Blue Ridge Re Ltd.** <br>7.080% (FHMMUSTF + 3.500%) due 01/08/2029 ~ | 250 | 250 |
| **Credicorp Capital Sociedad Titulizadora SA** <br>9.700% due 03/05/2045 | 1600 | 505 |
| **Credit Suisse AG AT1 Claim**  | $14166 | 4179 |
| **Deutsche Bank AG** <br>3.547% due 09/18/2031 •  | 4633 | 4423 |
| **F&G Global Funding** <br>5.875% due 01/16/2030 | 500 | 519 |
| **Ford Motor Credit Co. LLC**  |  |  |
| 5.303% due 09/06/2029  | 1800 | 1815 |
| 5.800% due 03/08/2029  | 700 | 715 |
| 5.918% due 03/20/2028  | 1900 | 1945 |
| 7.350% due 11/04/2027  | 700 | 731 |
| **GA Global Funding Trust**  |  |  |
| 5.500% due 04/01/2032  | 400 | 410 |
| 5.900% due 01/13/2035  | 900 | 923 |
| **GSPA Monetization Trust** <br>6.422% due 10/09/2029 | 127 | 129 |
| **Healthcare Realty Holdings LP** <br>2.400% due 03/15/2030 | 241 | 219 |
| **Host Hotels & Resorts LP** <br>5.500% due 04/15/2035 | 2000 | 2025 |
| **HPS Corporate Lending Fund** <br>5.950% due 04/14/2032 | 1500 | 1522 |
| **HSBC Holdings PLC**  |  |  |
| 2.357% due 08/18/2031 •  | 431 | 392 |
| 2.848% due 06/04/2031 •  | 300 | 281 |
| **Kona Spc Ltd.** <br>5.718% due 09/15/2026 «•  | 1000 | 1179 |
| **Luca RE Ltd.** <br>10.910% (JMMMUSTF + 7.250%) due 07/22/2031 ~ | $300 | 310 |
| **Nomura Holdings, Inc.** <br>2.679% due 07/16/2030 | 409 | 379 |
| **Panama Infrastructure Receivable Purchaser PLC** <br>0.000% due 04/05/2032 (d) | 3900 | 3012 |
| **UBS Group AG**  |  |  |
| 3.091% due 05/14/2032 •  | 1700 | 1579 |
| 4.194% due 04/01/2031 •  | 250 | 248 |
| **VICI Properties LP** <br>4.750% due 02/15/2028 | 1650 | 1667 |
| **Vitality Re XVI Ltd.** <br>7.370% (MSMMUSTF + 3.750%) due 01/08/2030 ~ | 250 | 251 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Wells Fargo & Co.** <br>3.900% due 07/22/2032 •  | 2100 | 2529 |
|  |  | 59585 |
| **INDUSTRIALS 1.0%**  |  |  |
| **Bayer U.S. Finance LLC**  |  |  |
| 6.375% due 11/21/2030  | $400 | 428 |
| 6.500% due 11/21/2033  | 200 | 217 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 8980 | 9495 |
| **Conagra Brands, Inc.** <br>5.750% due 08/01/2035 | 1100 | 1124 |
| **CVS Pass-Through Trust** <br>6.943% due 01/10/2030 | 20 | 21 |
| **DAE Funding LLC** <br>3.375% due 03/20/2028 | 1800 | 1755 |
| **Hyatt Hotels Corp.** <br>5.750% due 03/30/2032 | 200 | 210 |
| **Mars, Inc.** <br>5.200% due 03/01/2035 | 600 | 617 |
| **NTT Finance Corp.** <br>4.876% due 07/16/2030 | 400 | 407 |
| **Petroleos del Peru SA** <br>5.625% due 06/19/2047 | 3300 | 2101 |
| **Petroleos Mexicanos** <br>6.350% due 02/12/2048 | 1500 | 1178 |
| **Viper Energy Partners LLC** <br>5.700% due 08/01/2035 | 500 | 511 |
|  |  | 18064 |
| **UTILITIES 0.4%**  |  |  |
| **Pacific Gas & Electric Co.**  |  |  |
| 2.500% due 02/01/2031  | 582 | 525 |
| 3.000% due 06/15/2028  | 2300 | 2231 |
| 6.150% due 03/01/2055  | 600 | 596 |
| **Southern California Edison Co.**  |  |  |
| 4.650% due 10/01/2043  | 1500 | 1279 |
| 5.150% due 06/01/2029  | 3600 | 3680 |
|  |  | 8311 |
| Total Corporate Bonds & Notes (Cost $80,525) |  | 85960 |
| **MUNICIPAL BONDS & NOTES 0.1%**  |  |  |
| **CALIFORNIA 0.1%**  |  |  |
| **California State Public Works Board Revenue Bonds, (BABs), Series 2010** <br>7.804% due 03/01/2035 | 35 | 39 |
| **Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021** <br>3.000% due 06/01/2046 | 1065 | 967 |
|  |  | 1006 |
| **ILLINOIS 0.0%**  |  |  |
| **Chicago, Illinois Waterworks Revenue Bonds, Series 2010** <br>6.642% due 11/01/2029 | 110 | 114 |
| **Illinois State General Obligation Bonds, (BABs), Series 2010**  |  |  |
| 6.630% due 02/01/2035  | 50 | 53 |
| 6.725% due 04/01/2035  | 100 | 106 |
| 7.350% due 07/01/2035  | 71 | 78 |
|  |  | 351 |
| **NEBRASKA 0.0%**  |  |  |
| **Public Power Generation Agency, Nebraska Revenue Bonds, (BABs), Series 2009** <br>7.242% due 01/01/2041 | 20 | 22 |
| **OHIO 0.0%**  |  |  |
| **Ohio State University Revenue Bonds, Series 2011** <br>4.800% due 06/01/2111 | 67 | 55 |
| **PENNSYLVANIA 0.0%**  |  |  |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, (BABs), Series 2010** <br>6.532% due 06/15/2039 | 5 | 6 |
| **WASHINGTON 0.0%**  |  |  |
| **Washington State Convention Center Public Facilities District Revenue Bonds, (BABs), Series 2010** <br>6.790% due 07/01/2040 | 605 | 650 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Municipal Bonds & Notes (Cost $2,341) |  | 2090 |
| **U.S. GOVERNMENT AGENCIES 99.2%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 3.000% due 11/01/2032 | 2164 | 2117 |
| 3.500% due 05/01/2049 | 175 | 164 |
| 3.650% due 11/01/2043 (i) | 10335 | 8669 |
| 4.000% due 07/01/2047 - 03/01/2049 | 489 | 473 |
| 5.000% due 01/01/2028 - 01/01/2055 | 1597 | 1609 |
| 5.500% due 01/01/2035 - 09/01/2055 | 17105 | 17525 |
| 5.500% due 09/01/2055 (i) | 16762 | 17247 |
| 6.000% due 08/01/2027 - 10/01/2055 | 9159 | 9440 |
| 6.500% due 01/01/2029 - 03/01/2055 | 9659 | 10255 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates**<br>2.903% due 07/25/2054 ~ | 6357 | 6188 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 2.133% due 09/15/2041 •  | 134 | 131 |
| 2.372% due 07/15/2036 •(a) | 56 | 6 |
| 2.472% due 09/15/2036 •(a) | 32 | 3 |
| 2.602% due 04/15/2036 •(a) | 5 | 0 |
| 2.663% due 02/15/2040 •  | 24 | 22 |
| 3.500% due 07/15/2042 | 568 | 536 |
| 4.398% due 05/15/2037 •  | 1 | 1 |
| 4.478% due 03/15/2037 •  | 11 | 11 |
| 4.498% due 11/15/2043 •  | 15 | 15 |
| 4.648% due 07/15/2041 •  | 20 | 20 |
| 4.798% due 08/15/2037 •  | 53 | 53 |
| 4.808% due 10/15/2037 •  | 8 | 8 |
| 4.814% due 11/25/2054 •  | 7300 | 7331 |
| 4.818% due 05/15/2037 - 09/15/2037 •  | 56 | 56 |
| 4.824% due 09/25/2055 •  | 46293 | 46637 |
| 4.974% due 07/25/2055 - 09/25/2055 •  | 26584 | 26748 |
| 5.000% due 04/15/2041 | 389 | 399 |
| 5.024% due 09/25/2055 •  | 6363 | 6391 |
| 5.074% due 02/25/2055 - 08/25/2055 •  | 11409 | 11463 |
| 5.500% due 03/15/2034 | 35 | 37 |
| **Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates**  |  |  |
| 5.429% due 07/25/2044 •  | 2 | 2 |
| **Federal National Mortgage Association**  |  |  |
| 3.000% due 12/01/2026 - 12/01/2032 | 3095 | 3012 |
| 3.500% due 02/01/2043 - 09/01/2048 | 1844 | 1737 |
| 4.000% due 06/01/2026 - 10/01/2030 | 1 | 1 |
| 4.070% due 10/01/2032 | 5184 | 5097 |
| 4.202% due 10/01/2029 ~(i) | 11100 | 11188 |
| 4.300% due 12/01/2029 - 12/01/2032 | 63917 | 63837 |
| 4.410% due 10/01/2032 | 3347 | 3357 |
| 4.500% due 04/01/2028 - 12/01/2054 | 2832 | 2811 |
| 4.500% due 11/01/2054 - 12/01/2054 (i) | 13025 | 12890 |
| 4.640% due 10/01/2032 (i) | 6007 | 6080 |
| 4.705% due 09/01/2031 ~(i) | 20400 | 20836 |
| 4.720% due 10/01/2028 - 08/01/2030 | 7266 | 7427 |
| 4.770% due 10/01/2028 | 3100 | 3168 |
| 4.860% due 08/01/2030 | 3500 | 3597 |
| 4.930% due 06/01/2029 (i) | 5000 | 5147 |
| 5.000% due 01/01/2026 - 12/01/2054 | 2006 | 2022 |
| 5.030% due 10/01/2035 | 3760 | 3869 |
| 5.060% due 10/01/2033 | 7009 | 7240 |
| 5.210% due 04/01/2035 | 2136 | 2225 |
| 5.300% due 11/01/2030 (i) | 10000 | 10471 |
| 5.500% due 03/01/2026 - 06/01/2054 | 2058 | 2089 |
| 5.500% due 07/01/2054 - 11/01/2054 (i) | 13990 | 14370 |
| 5.820% due 08/01/2035 •  | 2 | 2 |
| 6.000% due 10/01/2026 - 06/01/2054 | 5019 | 5188 |
| 6.159% due 09/01/2031 - 10/01/2035 •  | 1 | 1 |
| 6.199% due 03/01/2034 •  | 4 | 4 |
| 6.343% due 12/01/2034 •  | 15 | 15 |
| 6.500% due 09/01/2036 - 11/01/2054 | 7221 | 7628 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 0.000% due 08/25/2039 (b)(d) | 66 | 58 |
| 0.000% due 11/25/2040 •  | 1 | 1 |
| 1.861% due 03/25/2041 •(a) | 96 | 10 |
| 2.061% due 03/25/2037 •(a) | 28 | 3 |
| 2.111% due 04/25/2037 •(a) | 102 | 9 |
| 2.161% due 11/25/2039 •(a) | 16 | 2 |
| 2.391% due 03/25/2037 •(a) | 35 | 4 |
| 2.411% due 05/25/2037 •(a) | 92 | 8 |
| 2.711% due 03/25/2036 •(a) | 25 | 2 |
| 2.801% due 04/25/2037 •(a) | 171 | 23 |
| 3.211% due 02/25/2037 •(a) | 16 | 2 |
| 3.661% due 07/25/2033 •(a) | 9 | 1 |
| 4.177% due 03/25/2036 •  | 1 | 1 |
| 4.319% due 04/25/2037 •  | 1 | 1 |
| 4.339% due 07/25/2037 •  | 4 | 4 |
| 4.369% due 07/25/2037 •  | 6 | 6 |
| 4.389% due 09/25/2035 •  | 11 | 11 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.399% due 09/25/2035 •  | 9 | 9 |
| 4.500% due 09/25/2040 | 452 | 448 |
| 4.509% due 10/25/2040 •  | 4 | 4 |
| 4.709% due 06/25/2037 •  | 44 | 45 |
| 4.774% due 09/25/2055 •  | 8044 | 8075 |
| 4.824% due 11/25/2054 •  | 5615 | 5623 |
| 4.974% due 07/25/2055 •  | 912 | 916 |
| 5.024% due 09/25/2055 •  | 7240 | 7272 |
| 5.074% due 08/25/2055 •  | 21951 | 22053 |
| 10.605% due 12/25/2036 •  | 1 | 1 |
| **Federal National Mortgage Association Trust**<br>4.536% due 09/25/2042 •  | 2 | 2 |
| **Federal National Mortgage Association-ACES**<br>2.242% due 01/25/2031 ~(a) | 779 | 40 |
| **Government National Mortgage Association**  |  |  |
| 3.500% due 02/15/2045 - 03/15/2045 | 45 | 42 |
| 4.000% due 09/20/2055 | 397 | 375 |
| 4.500% due 06/20/2055 | 686 | 668 |
| 4.750% due 11/20/2044 •  | 95 | 97 |
| 5.000% due 08/15/2033 - 03/15/2042 | 552 | 568 |
| 6.000% due 07/15/2037 - 08/15/2037 | 2 | 2 |
| **Government National Mortgage Association REMICS**  |  |  |
| 4.337% due 08/20/2047 •  | 134 | 131 |
| 4.977% due 04/20/2068 •  | 352 | 356 |
| 5.068% due 07/20/2055 •  | 14974 | 15064 |
| 5.268% due 07/20/2055 •  | 4612 | 4655 |
| **Government National Mortgage Association, TBA**  |  |  |
| 3.500% due 02/01/2056 | 64500 | 58700 |
| 4.000% due 01/01/2056 - 02/01/2056 | 77441 | 73147 |
| 4.500% due 02/01/2056 | 48470 | 47184 |
| 5.000% due 01/01/2056 - 02/01/2056 | 60750 | 60558 |
| 5.500% due 01/01/2056 | 33150 | 33477 |
| 6.000% due 02/01/2056 | 32710 | 33314 |
| **U.S. Small Business Administration**  |  |  |
| 4.430% due 05/01/2029 | 2 | 2 |
| 5.490% due 03/01/2028 | 2 | 2 |
| 6.020% due 08/01/2028 | 14 | 14 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 3.000% due 02/01/2056 | 2650 | 2342 |
| 4.000% due 02/01/2056 | 67950 | 64419 |
| 4.500% due 01/01/2056 | 33330 | 32543 |
| 5.000% due 02/01/2056 | 128930 | 128462 |
| 5.500% due 02/01/2056 | 56050 | 56786 |
| 6.000% due 01/01/2056 - 03/01/2056 | 374050 | 383927 |
| 6.500% due 02/01/2056 - 03/01/2056 | 431270 | 448400 |
| Total U.S. Government Agencies (Cost $1,861,149) |  | 1868735 |
| **U.S. TREASURY OBLIGATIONS 3.8%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 1.375% due 11/15/2040 (k) | 4100 | 2663 |
| 2.250% due 08/15/2049 (m) | 146 | 91 |
| 3.000% due 08/15/2048 (m) | 473 | 351 |
| 3.000% due 02/15/2049 (k)(m) | 17298 | 12747 |
| 3.125% due 05/15/2048 (m) | 124 | 94 |
| 4.125% due 08/15/2053 | 100 | 89 |
| 4.625% due 02/15/2040 (k) | 3734 | 3777 |
| 4.625% due 05/15/2044 (k)(m) | 27300 | 26813 |
| 4.875% due 08/15/2045 | 672 | 678 |
| **U.S. Treasury Notes**  |  |  |
| 2.375% due 05/15/2029 (k)(m) | 2075 | 1995 |
| 3.875% due 07/31/2030 (k)(m) | 21600 | 21763 |
| 4.250% due 08/15/2035 (m) | 980 | 987 |
| Total U.S. Treasury Obligations (Cost $85,756) |  | 72048 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 7.4%**  |  |  |
| **Adjustable Rate Mortgage Trust** <br>5.018% due 01/25/2036 ~ | 386 | 301 |
| **American Home Mortgage Assets Trust**  |  |  |
| 4.036% due 05/25/2046 •  | 7 | 6 |
| 4.036% due 10/25/2046 •  | 30 | 15 |
| 4.949% due 11/25/2046 •  | 10503 | 2551 |
| 6.750% due 11/25/2046 þ  | 148 | 135 |
| **American Home Mortgage Investment Trust** <br>6.500% due 03/25/2047 þ | 23 | 14 |
| **Angel Oak Mortgage Trust** <br>1.469% due 06/25/2065 ~ | 17 | 16 |
| **Banc of America Funding Trust**  |  |  |
| 4.154% due 06/20/2037 ~  | 8 | 7 |
| 4.228% due 10/20/2036 •  | 4 | 4 |
| 4.268% due 04/20/2047 •  | 2 | 2 |
| 4.308% due 02/20/2047 •  | 272 | 259 |
| 4.654% due 09/20/2046 ~  | 290 | 263 |
| 4.976% due 02/20/2035 ~  | 6 | 6 |
| 6.000% due 08/25/2036  | 5 | 5 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Banc of America Mortgage Trust**  |  |  |
| 5.316% due 06/25/2035 ~  | 3 | 2 |
| 5.641% due 06/25/2034 ~  | 3 | 3 |
| 5.732% due 02/25/2034 ~  | 4 | 4 |
| 5.870% due 01/25/2035 ~  | 4 | 4 |
| **BCAP LLC Trust** <br>4.206% due 03/25/2037 •  | 1311 | 1205 |
| **Bear Stearns ALT-A Trust**  |  |  |
| 4.166% due 08/25/2036 •  | 269 | 243 |
| 4.166% due 01/25/2047 •  | 27 | 24 |
| 4.186% due 12/25/2046 •  | 3 | 3 |
| 4.346% due 01/25/2036 •  | 3 | 3 |
| 4.375% due 11/25/2035 ~  | 36 | 33 |
| 5.075% due 07/25/2035 ~  | 41 | 24 |
| 5.190% due 10/25/2035 ~  | 32 | 26 |
| 5.406% due 05/25/2035 ~  | 9 | 9 |
| **Bear Stearns ARM Trust**  |  |  |
| 4.422% due 02/25/2036 ~  | 35 | 33 |
| 4.829% due 07/25/2034 ~  | 4 | 4 |
| 5.507% due 11/25/2034 ~  | 1 | 1 |
| 5.738% due 01/25/2033 ~  | 21 | 21 |
| 5.950% due 02/25/2036 •  | 3 | 2 |
| 6.290% due 04/25/2033 ~  | 1 | 1 |
| 6.375% due 08/25/2033 ~  | 1 | 1 |
| **Chase Mortgage Finance Trust**  |  |  |
| 4.380% due 12/25/2035 ~  | 1 | 1 |
| 4.461% due 09/25/2036 ~  | 79 | 67 |
| 4.765% due 01/25/2036 ~  | 4 | 3 |
| **ChaseFlex Trust** <br>4.446% due 07/25/2037 •  | 2234 | 1989 |
| **Chevy Chase Funding LLC Mortgage-Backed Certificates** <br>4.076% due 05/25/2036 •  | 51 | 50 |
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 4.306% due 05/25/2035 •  | 11 | 10 |
| 4.426% due 04/25/2035 •  | 604 | 584 |
| 4.446% due 05/25/2035 •  | 28 | 25 |
| 4.486% due 03/25/2035 •  | 1 | 1 |
| 4.506% due 02/25/2035 •  | 5 | 4 |
| 4.796% due 11/25/2034 ~  | 7 | 7 |
| 5.750% due 05/25/2037  | 3 | 2 |
| 6.000% due 07/25/2036  | 232 | 108 |
| 6.000% due 01/25/2037  | 158 | 72 |
| 6.000% due 02/25/2037  | 155 | 67 |
| 6.148% due 02/20/2036 •  | 2 | 2 |
| 6.500% due 12/25/2037  | 358 | 129 |
| 6.589% due 10/20/2034 ~  | 9 | 9 |
| **CHL Reperforming Loan Trust REMICS** <br>4.186% due 06/25/2035 •  | 20 | 19 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.166% due 01/25/2037 •  | 67 | 60 |
| 4.457% due 09/25/2037 ~  | 97 | 92 |
| 6.050% due 03/25/2036 •  | 12 | 12 |
| 6.480% due 10/25/2035 •  | 6 | 6 |
| 6.560% due 10/25/2035 •  | 7 | 6 |
| **CitiMortgage Alternative Loan Trust**  |  |  |
| 4.446% due 04/25/2037 •  | 101 | 84 |
| 6.000% due 12/25/2036  | 31 | 28 |
| 6.000% due 06/25/2037  | 42 | 39 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 3.063% due 08/25/2035 ~  | 782 | 667 |
| 4.046% due 04/25/2047 •  | 911 | 910 |
| 4.056% due 04/25/2047 •  | 1396 | 1251 |
| 4.086% due 12/25/2046 •  | 4779 | 4362 |
| 4.146% due 06/25/2035 •  | 759 | 477 |
| 4.186% due 05/25/2047 •  | 144 | 132 |
| 4.226% due 09/25/2046 •  | 38 | 37 |
| 4.228% due 09/20/2046 •  | 1236 | 1290 |
| 4.246% due 05/25/2036 •  | 56 | 49 |
| 4.246% due 08/25/2037 •  | 9 | 5 |
| 4.268% due 03/20/2046 •  | 10 | 9 |
| 4.268% due 07/20/2046 •  | 5 | 4 |
| 4.268% due 09/20/2046 •  | 10 | 10 |
| 4.308% due 05/20/2046 •  | 3 | 2 |
| 4.346% due 11/25/2036 •  | 10293 | 9020 |
| 4.366% due 12/25/2035 •  | 4 | 4 |
| 4.396% due 05/25/2035 •  | 21 | 15 |
| 4.406% due 02/25/2037 •  | 219 | 184 |
| 4.446% due 08/25/2035 •  | 142 | 133 |
| 4.448% due 11/20/2035 •  | 24 | 22 |
| 4.486% due 11/25/2035 •  | 169 | 157 |
| 4.488% due 12/20/2035 •  | 32 | 31 |
| 5.029% due 12/25/2035 •  | 4 | 4 |
| 5.429% due 08/25/2035 •  | 14 | 13 |
| 5.500% due 05/25/2035  | 80 | 64 |
| 5.500% due 06/25/2035  | 135 | 108 |
| 5.500% due 11/25/2035  | 59 | 32 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.509% due 01/25/2036 •  | 54 | 52 |
| 5.750% due 03/25/2037  | 74 | 37 |
| 6.000% due 12/25/2035  | 179 | 126 |
| 6.000% due 05/25/2036  | 32 | 15 |
| 6.000% due 08/25/2036 •  | 38 | 21 |
| 6.000% due 05/25/2037  | 108 | 44 |
| 6.079% due 10/20/2035 •  | 4 | 3 |
| 6.250% due 08/25/2036  | 547 | 283 |
| 7.000% due 10/25/2037  | 69 | 22 |
| **Credit Suisse First Boston Mortgage Securities Corp.**  |  |  |
| 5.250% due 09/25/2035  | 160 | 124 |
| **CSAB Mortgage-Backed Trust** <br>6.184% due 12/25/2036 þ | 1248 | 173 |
| **CSMC Mortgage-Backed Trust**  |  |  |
| 5.750% due 08/25/2036  | 7 | 6 |
| 5.750% due 03/25/2037  | 15 | 8 |
| 6.421% due 10/25/2037 ~  | 195 | 112 |
| **CSMC Trust**  |  |  |
| 3.297% due 11/30/2037 ~  | 11372 | 10509 |
| 3.517% due 12/27/2037 ~  | 4673 | 4133 |
| 4.150% due 12/27/2060 ~  | 2904 | 2895 |
| 4.191% due 06/25/2050 ~  | 376 | 342 |
| 4.215% due 07/27/2061 ~  | 5639 | 5620 |
| **CSMC Trust Capital Certificates** <br>4.146% due 01/27/2037 •  | 18 | 12 |
| **Deutsche Alt-A Securities, Inc. Mortgage Loan Trust**  |  |  |
| 4.226% due 02/25/2037 •  | 3993 | 3519 |
| 4.346% due 02/25/2035 •  | 63 | 62 |
| 4.506% due 02/25/2036 •  | 100 | 101 |
| 5.346% due 10/25/2047 •  | 152 | 119 |
| **DSLA Mortgage Loan Trust**  |  |  |
| 3.986% due 04/19/2047 •  | 486 | 406 |
| 4.036% due 10/19/2036 •  | 107 | 98 |
| 4.366% due 08/19/2045 •  | 3 | 2 |
| 4.666% due 09/19/2044 •  | 17 | 16 |
| **Eurohome U.K. Mortgages PLC** <br>4.050% due 06/15/2044 •  | 2 | 3 |
| **First Horizon Alternative Mortgage Securities Trust**  |  |  |
| 4.636% due 03/25/2035 ~  | $1 | 0 |
| 5.005% due 06/25/2036 ~  | 194 | 153 |
| 5.395% due 12/25/2035 ~  | 14 | 10 |
| **First Horizon Mortgage Pass-Through Trust** <br>4.697% due 10/25/2035 ~ | 39 | 36 |
| **GreenPoint Mortgage Funding Trust** <br>4.206% due 01/25/2037 •  | 104 | 98 |
| **GSMSC Pass-Through Trust** <br>4.519% due 12/26/2036 •  | 58 | 43 |
| **GSR Mortgage Loan Trust**  |  |  |
| 4.125% due 11/25/2035 ~  | 9 | 8 |
| 4.970% due 11/25/2035 ~  | 3 | 3 |
| 5.001% due 07/25/2035 ~  | 1 | 1 |
| 5.109% due 09/25/2035 ~  | 8 | 7 |
| 5.500% due 01/25/2037  | 4 | 10 |
| 5.880% due 04/25/2032 •  | 4 | 4 |
| 6.000% due 02/25/2036  | 217 | 78 |
| 6.000% due 07/25/2037  | 52 | 32 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 4.066% due 07/19/2047 •  | 116 | 113 |
| 4.186% due 12/19/2036 •  | 4 | 4 |
| 4.256% due 12/19/2036 •  | 227 | 185 |
| 4.286% due 05/19/2035 •  | 145 | 141 |
| 4.311% due 06/19/2036 ~  | 54 | 27 |
| 4.326% due 06/19/2035 •  | 820 | 808 |
| 4.326% due 12/19/2036 •  | 92 | 89 |
| 4.346% due 01/19/2036 •  | 410 | 265 |
| 4.528% due 06/20/2035 •  | 75 | 70 |
| 6.029% due 10/19/2035 •  | 265 | 124 |
| **HomeBanc Mortgage Trust** <br>4.466% due 03/25/2035 •  | 87 | 71 |
| **Impac CMB Trust** <br>4.486% due 03/25/2035 •  | 122 | 120 |
| **Impac Secured Assets CMN Owner Trust** <br>6.187% due 07/25/2035 ~ | 15 | 15 |
| **Impac Secured Assets Trust** <br>4.386% due 02/25/2037 •  | 9671 | 8927 |
| **IndyMac INDX Mortgage Loan Trust**  |  |  |
| 4.068% due 06/25/2036 ~  | 90 | 80 |
| 4.146% due 06/25/2037 •  | 4 | 1 |
| 4.186% due 05/25/2035 ~  | 137 | 91 |
| 4.206% due 02/25/2037 •  | 58 | 53 |
| 4.226% due 09/25/2046 •  | 45 | 42 |
| 4.246% due 11/25/2046 •  | 399 | 388 |
| 4.266% due 05/25/2046 •  | 3741 | 3474 |
| 4.326% due 07/25/2035 •  | 115 | 108 |
| 4.366% due 06/25/2035 •  | 24 | 20 |
| 4.486% due 07/25/2045 •  | 2 | 2 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **JP Morgan Alternative Loan Trust**  |  |  |
| 4.210% due 05/25/2036 ~  | 49 | 26 |
| 6.000% due 12/27/2036  | 50 | 24 |
| 6.500% due 03/25/2036  | 1644 | 808 |
| **JP Morgan Chase Commercial Mortgage Securities Trust** <br>5.248% due 12/15/2031 •  | 133 | 133 |
| **JP Morgan Mortgage Trust**  |  |  |
| 4.051% due 07/27/2037 ~  | 41 | 39 |
| 4.263% due 10/25/2036 ~  | 23 | 16 |
| 4.321% due 10/25/2036 ~  | 3 | 2 |
| 4.781% due 04/25/2036 ~  | 457 | 399 |
| 5.099% due 08/25/2035 ~  | 14 | 12 |
| 5.419% due 04/25/2037 ~  | 3 | 2 |
| 5.586% due 07/25/2035 ~  | 42 | 41 |
| **Legacy Mortgage Asset Trust**  |  |  |
| 5.750% due 04/25/2061 þ  | 2857 | 2860 |
| 5.750% due 07/25/2061 þ  | 4624 | 4628 |
| 5.892% due 10/25/2066 þ  | 2636 | 2639 |
| 6.250% due 07/25/2067 þ  | 2210 | 2213 |
| **Lehman Mortgage Trust** <br>4.496% due 11/25/2036 •  | 405 | 182 |
| **Lehman XS Trust**  |  |  |
| 4.246% due 03/25/2047 •  | 4107 | 3834 |
| 4.296% due 08/25/2046 •  | 512 | 537 |
| 4.346% due 08/25/2037 •  | 35 | 34 |
| 5.546% due 09/25/2047 •  | 37 | 34 |
| **Luminent Mortgage Trust**  |  |  |
| 4.467% due 04/25/2036 ~  | 1684 | 1101 |
| 4.566% due 04/25/2036 •  | 23 | 20 |
| **MASTR Adjustable Rate Mortgages Trust**  |  |  |
| 3.183% due 07/25/2035 ~  | 7 | 6 |
| 4.829% due 12/25/2046 •  | 9717 | 8174 |
| 4.896% due 10/25/2033 ~  | 28 | 25 |
| 5.633% due 11/21/2034 ~  | 109 | 108 |
| **MASTR Asset Securitization Trust** <br>6.000% due 06/25/2036 | 74 | 40 |
| **Mellon Residential Funding Corp. Mortgage Pass-Through Trust**  |  |  |
| 4.725% due 08/15/2032 •  | 8 | 8 |
| **Merrill Lynch Alternative Note Asset Trust**  |  |  |
| 4.066% due 03/25/2037 •  | 119 | 28 |
| 4.246% due 03/25/2037 •  | 1850 | 435 |
| 4.266% due 04/25/2037 •  | 13623 | 2321 |
| 4.446% due 03/25/2037 •  | 76 | 18 |
| 6.000% due 03/25/2037  | 37 | 11 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 4.882% due 09/25/2035 ~  | 40 | 31 |
| 5.011% due 04/25/2035 ~  | 4 | 4 |
| 5.199% due 05/25/2036 ~  | 26 | 25 |
| 5.630% due 02/25/2033 •  | 5 | 5 |
| 5.840% due 05/25/2033 ~  | 2 | 2 |
| **Mill City Mortgage Loan Trust** <br>2.750% due 08/25/2059 ~ | 26 | 26 |
| **Morgan Stanley Mortgage Loan Trust**  |  |  |
| 3.550% due 07/25/2035 ~  | 52 | 46 |
| 5.782% due 06/25/2036 ~  | 2 | 2 |
| 6.000% due 08/25/2036  | 57 | 23 |
| 6.815% due 06/25/2036 þ  | 781 | 195 |
| **Morgan Stanley Re-REMICS Trust** <br>5.250% due 05/26/2037 ~ | 50 | 22 |
| **Mortgage Equity Conversion Asset Trust** <br>4.020% due 05/25/2042 •  | 27 | 25 |
| **MortgageIT Trust** <br>4.366% due 12/25/2035 •  | 89 | 89 |
| **New Residential Mortgage Loan Trust**  |  |  |
| 2.750% due 07/25/2059 ~  | 548 | 532 |
| 2.750% due 11/25/2059 ~  | 721 | 697 |
| 3.500% due 12/25/2057 ~  | 388 | 379 |
| **Nomura Asset Acceptance Corp. Alternative Loan Trust**  |  |  |
| 4.036% due 06/25/2037 •  | 2880 | 2410 |
| 5.476% due 05/25/2035 þ  | 18 | 8 |
| 5.769% due 06/25/2036 ~  | 10090 | 2574 |
| **NovaStar Mortgage Funding Trust** <br>0.388% due 09/25/2046 •  | 1282 | 473 |
| **PHH Alternative Mortgage Trust** <br>4.166% due 02/25/2037 •  | 106 | 79 |
| **RALI Trust**  |  |  |
| 4.080% due 11/25/2037 ~  | 106 | 89 |
| 4.146% due 02/25/2037 •  | 44 | 40 |
| 4.146% due 02/25/2047 •  | 1298 | 1207 |
| 4.166% due 01/25/2037 •  | 814 | 745 |
| 4.186% due 01/25/2037 •  | 1828 | 1632 |
| 4.206% due 07/25/2036 •  | 194 | 62 |
| 4.206% due 09/25/2036 •  | 205 | 192 |
| 4.216% due 08/25/2036 •  | 81 | 75 |
| 4.226% due 07/25/2036 •  | 70 | 65 |
| 4.226% due 09/25/2036 •  | 113 | 106 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.346% due 08/25/2035 •  | 358 | 245 |
| 4.829% due 09/25/2046 •  | 5656 | 4774 |
| 5.000% due 09/25/2036  | 3 | 2 |
| 5.007% due 10/25/2037 ~  | 185 | 147 |
| 6.000% due 08/25/2036  | 9 | 8 |
| 6.000% due 01/25/2037  | 19 | 15 |
| 6.000% due 03/25/2037  | 77 | 66 |
| 6.500% due 08/25/2036  | 841 | 704 |
| 6.513% due 09/25/2034 ~  | 29 | 30 |
| **Residential Asset Securitization Trust**  |  |  |
| 5.500% due 09/25/2035  | 75 | 31 |
| 6.000% due 03/25/2037  | 809 | 248 |
| **RFMSI Trust** <br>5.672% due 04/25/2037 ~ | 92 | 80 |
| **Sequoia Mortgage Trust**  |  |  |
| 3.544% due 09/20/2046 ~  | 48 | 32 |
| 4.408% due 07/20/2034 •  | 50 | 50 |
| **STARM Mortgage Loan Trust** <br>6.674% due 01/25/2037 ~ | 29 | 16 |
| **Starwood Mortgage Residential Trust** <br>1.486% due 04/25/2065 ~ | 35 | 34 |
| **Structured Adjustable Rate Mortgage Loan Trust**  |  |  |
| 3.892% due 01/25/2035 ~  | 7 | 7 |
| 3.906% due 11/25/2035 ~  | 29 | 27 |
| 4.146% due 08/25/2036 •  | 27 | 22 |
| 4.728% due 08/25/2035 ~  | 17 | 9 |
| 5.005% due 03/25/2036 ~  | 17 | 14 |
| 5.429% due 01/25/2035 •  | 2 | 2 |
| 6.146% due 12/25/2037 •  | 333 | 288 |
| **Structured Asset Mortgage Investments II Trust**  |  |  |
| 3.966% due 08/25/2036 •  | 106 | 96 |
| 4.226% due 07/25/2046 •  | 36 | 30 |
| 4.266% due 04/25/2036 •  | 10 | 9 |
| 4.286% due 05/25/2046 •  | 9 | 3 |
| 4.306% due 02/25/2036 •  | 29 | 28 |
| 4.406% due 02/25/2036 •  | 2 | 2 |
| 4.546% due 02/19/2035 •  | 1 | 1 |
| 6.226% due 02/25/2036 •  | 9 | 7 |
| **Thornburg Mortgage Securities Trust**  |  |  |
| 3.010% due 03/25/2044 ~  | 20 | 20 |
| 5.285% due 12/25/2044 ~  | 33 | 32 |
| 5.413% due 06/25/2047 •  | 91 | 88 |
| **Towd Point Mortgage Trust**  |  |  |
| 2.250% due 12/25/2061 ~  | 2762 | 2700 |
| 2.900% due 10/25/2059 ~  | 446 | 431 |
| 3.000% due 01/25/2058 ~  | 24 | 24 |
| 3.266% due 10/25/2057 ~  | 1031 | 874 |
| 4.846% due 05/25/2058 •  | 17 | 18 |
| 4.846% due 10/25/2059 •  | 23 | 23 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 3.485% due 01/25/2037 ~  | 36 | 31 |
| 3.878% due 12/25/2046 •  | 10 | 9 |
| 3.897% due 12/25/2046 •  | 11 | 10 |
| 3.930% due 06/25/2037 ~  | 66 | 58 |
| 4.104% due 02/25/2037 ~  | 13 | 11 |
| 4.140% due 12/25/2036 ~  | 20 | 18 |
| 4.176% due 02/25/2037 ~  | 95 | 89 |
| 4.303% due 06/25/2037 ~  | 202 | 181 |
| 4.386% due 12/25/2045 •  | 4130 | 3847 |
| 4.406% due 11/25/2045 •  | 3 | 3 |
| 4.426% due 10/25/2045 •  | 6 | 6 |
| 4.426% due 12/25/2045 •  | 196 | 181 |
| 4.509% due 10/25/2035 ~  | 11 | 10 |
| 4.626% due 01/25/2045 •  | 308 | 299 |
| 4.646% due 12/25/2045 •  | 691 | 687 |
| 4.686% due 12/25/2035 ~  | 94 | 89 |
| 4.729% due 03/25/2047 •  | 1722 | 1543 |
| 4.779% due 06/25/2047 •  | 1415 | 1218 |
| 4.839% due 07/25/2047 •  | 25 | 21 |
| 4.909% due 10/25/2046 •  | 277 | 247 |
| 4.966% due 01/25/2035 ~  | 23 | 22 |
| 5.006% due 11/25/2045 •  | 1257 | 1208 |
| 5.029% due 02/25/2046 •  | 129 | 119 |
| 5.099% due 01/25/2046 •  | 853 | 775 |
| 5.502% due 08/25/2035 ~  | 11 | 12 |
| 5.529% due 10/25/2046 •  | 425 | 408 |
| 5.529% due 11/25/2046 •  | 392 | 355 |
| 6.169% due 06/25/2033 ~  | 9 | 9 |
| **Washington Mutual Mortgage Pass-Through Certificates Trust**  |  |  |
| 3.911% due 09/25/2036 •  | 320 | 83 |
| 3.911% due 09/25/2036 þ  | 612 | 160 |
| 4.346% due 02/25/2036 •  | 299 | 256 |
| 4.779% due 02/25/2047 •  | 557 | 529 |
| 4.859% due 11/25/2046 •  | 48 | 43 |
| 4.879% due 10/25/2046 •  | 76 | 68 |
| 4.969% due 04/25/2046 •  | 37 | 34 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Wells Fargo Alternative Loan Trust**  |  |  |
| 6.250% due 07/25/2037  | 66 | 58 |
| 6.442% due 07/25/2037 ~  | 2 | 2 |
| **Wells Fargo Mortgage-Backed Securities Trust**  |  |  |
| 6.194% due 09/25/2036 ~  | 2 | 2 |
| 6.290% due 12/25/2036 ~  | 12 | 11 |
| Total Non-Agency Mortgage-Backed Securities (Cost $152,020) |  | 138829 |
| **ASSET-BACKED SECURITIES 28.9%**  |  |  |
| **AUTOMOBILE SEQUENTIAL 1.5%**  |  |  |
| **FCCU Auto Receivables Trust**  |  |  |
| 5.540% due 04/16/2029  | 1600 | 1616 |
| 5.760% due 11/15/2027  | 30 | 30 |
| **FHF Issuer Trust**  |  |  |
| 5.690% due 02/15/2030  | 1811 | 1823 |
| 5.890% due 06/15/2030  | 631 | 635 |
| **FHF Trust** <br>6.570% due 06/15/2028 | 1409 | 1415 |
| **Flagship Credit Auto Trust** <br>5.640% due 03/15/2028 | 474 | 475 |
| **Foursight Capital Automobile Receivables Trust** <br>5.990% due 05/15/2028 | 652 | 654 |
| **GLS Auto Select Receivables Trust** <br>5.240% due 03/15/2030 | 260 | 261 |
| **Hertz Vehicle Financing III LLC**  |  |  |
| 5.440% due 01/25/2029  | 10400 | 10627 |
| 5.490% due 06/25/2027  | 1900 | 1907 |
| **Lendbuzz Securitization Trust** <br>7.500% due 12/15/2028 | 6989 | 7116 |
| **Research-Driven Pagaya Motor Asset Trust IV** <br>2.650% due 03/25/2030 | 782 | 774 |
| **Research-Driven Pagaya Motor Asset Trust V** <br>5.320% due 09/25/2030 | 613 | 616 |
| **SFS Auto Receivables Securitization Trust** <br>4.950% due 05/21/2029 | 370 | 372 |
|  |  | 28321 |
| **CMBS OTHER 3.1%**  |  |  |
| **M360 Ltd.** <br>6.098% due 11/22/2038 •  | 610 | 599 |
| **MF1 LLC**  |  |  |
| 5.184% due 02/18/2043 •  | 7100 | 7118 |
| 5.306% due 02/18/2040 •  | 11200 | 11192 |
| 5.468% due 03/19/2039 •  | 1000 | 1003 |
| **MF1 Ltd.**  |  |  |
| 5.299% due 10/16/2036 •  | 12800 | 12778 |
| 5.481% due 02/19/2037 •  | 12500 | 12509 |
| 5.599% due 10/16/2036 •  | 12800 | 12745 |
|  |  | 57944 |
| **HOME EQUITY OTHER 15.2%**  |  |  |
| **Aames Mortgage Investment Trust** <br>5.871% due 01/25/2035 •  | 5 | 5 |
| **ABFC Trust** <br>4.581% due 03/25/2035 •  | 4108 | 3979 |
| **Accredited Mortgage Loan Trust** <br>4.106% due 09/25/2036 •  | 97 | 97 |
| **ACE Securities Corp. Home Equity Loan Trust**  |  |  |
| 4.126% due 07/25/2036 •  | 1727 | 1672 |
| 4.166% due 03/25/2037 •  | 27502 | 11833 |
| 4.286% due 11/25/2036 •  | 3437 | 1417 |
| 4.326% due 06/25/2036 •  | 1533 | 1143 |
| 4.326% due 12/25/2036 •  | 280 | 149 |
| 4.461% due 12/25/2035 •  | 820 | 788 |
| 4.791% due 05/25/2035 •  | 4760 | 4453 |
| **Aegis Asset-Backed Securities Trust Mortgage Pass-Through Certificates** <br>4.551% due 10/25/2035 •  | 601 | 581 |
| **Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates**  |  |  |
| 4.058% due 11/25/2034 •  | 847 | 810 |
| 4.716% due 11/25/2035 •  | 1300 | 1250 |
| 4.821% due 07/25/2035 •  | 2000 | 1935 |
| 4.971% due 11/25/2034 •  | 84 | 83 |
| **Argent Mortgage Loan Trust** <br>4.326% due 05/25/2035 •  | 46 | 42 |
| **Argent Securities Trust**  |  |  |
| 3.956% due 09/25/2036 •  | 65 | 21 |
| 4.146% due 07/25/2036 •  | 401 | 367 |
| 4.206% due 04/25/2036 •  | 15503 | 4763 |
| 4.226% due 03/25/2036 •  | 712 | 668 |
| 4.326% due 06/25/2036 •  | 8462 | 2318 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Argent Securities, Inc. Asset-Backed Pass-Through Certificates** <br>3.340% due 01/25/2034 •  | 164 | 158 |
| **Asset-Backed Securities Corp. Home Equity Loan Trust**  |  |  |
| 4.656% due 06/25/2034 •  | 474 | 498 |
| 4.941% due 02/25/2035 •  | 7 | 7 |
| **Bear Stearns Asset-Backed Securities I Trust**  |  |  |
| 4.166% due 08/25/2036 •  | 602 | 589 |
| 4.546% due 05/25/2037 •  | 13644 | 11840 |
| 4.896% due 08/25/2037 •  | 334 | 305 |
| 5.721% due 12/25/2034 •  | 3583 | 3632 |
| **Bear Stearns Asset-Backed Securities Trust**  |  |  |
| 4.821% due 02/25/2034 •  | 1015 | 1043 |
| 5.046% due 08/25/2034 •  | 185 | 185 |
| **Carrington Mortgage Loan Trust**  |  |  |
| 4.106% due 02/25/2037 •  | 242 | 236 |
| 4.596% due 10/25/2035 •  | 910 | 901 |
| **Centex Home Equity Loan Trust** <br>4.491% due 03/25/2034 •  | 138 | 137 |
| **Chase Funding Trust** <br>4.486% due 08/25/2032 •  | 9 | 8 |
| **CIT Mortgage Loan Trust** <br>5.346% due 10/25/2037 •  | 5103 | 5186 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.036% due 05/25/2037 •  | 1289 | 878 |
| 4.046% due 05/25/2037 •  | 2014 | 1381 |
| 4.146% due 12/25/2036 •  | 281 | 106 |
| 4.166% due 09/25/2036 •  | 31 | 24 |
| 4.206% due 01/25/2037 •  | 3745 | 2797 |
| 4.326% due 08/25/2036 •  | 3282 | 3113 |
| 4.366% due 03/25/2036 •  | 659 | 611 |
| 4.446% due 10/25/2036 •  | 83 | 49 |
| 4.746% due 09/25/2035 •  | 4930 | 4800 |
| **Countrywide Asset-Backed Certificates**  |  |  |
| 4.126% due 03/25/2037 •  | 1562 | 1467 |
| 4.246% due 02/25/2037 •  | 77 | 74 |
| 4.326% due 04/25/2037 •  | 169 | 152 |
| **Countrywide Asset-Backed Certificates Trust**  |  |  |
| 4.046% due 06/25/2047 •  | 55 | 49 |
| 4.096% due 06/25/2047 •  | 1442 | 1410 |
| 4.126% due 06/25/2035 •  | 69 | 64 |
| 4.126% due 03/25/2037 •  | 54 | 54 |
| 4.126% due 07/25/2037 •  | 210 | 194 |
| 4.126% due 12/25/2046 •  | 1531 | 1444 |
| 4.126% due 04/25/2047 •  | 35 | 35 |
| 4.136% due 10/25/2047 •  | 7600 | 6698 |
| 4.161% due 05/25/2036 •  | 1846 | 1810 |
| 4.206% due 11/25/2047 •  | 26 | 25 |
| 4.266% due 05/25/2047 •  | 82 | 79 |
| 4.286% due 09/25/2037 •  | 88 | 94 |
| 4.306% due 05/25/2037 •  | 1474 | 1450 |
| 4.386% due 03/25/2036 •  | 202 | 186 |
| 4.586% due 08/25/2047 •  | 144 | 142 |
| 4.806% due 02/25/2036 •  | 1012 | 996 |
| 4.881% due 12/25/2035 •  | 136 | 135 |
| 5.796% due 08/25/2035 •  | 3000 | 2863 |
| 6.867% due 09/25/2046 þ  | 1758 | 1279 |
| **Countrywide Partnership Trust** <br>4.746% due 02/25/2035 •  | 808 | 806 |
| **Ellington Loan Acquisition Trust** <br>4.946% due 05/25/2037 •  | 1895 | 1863 |
| **EMC Mortgage Loan Trust** <br>5.146% due 02/25/2041 •  | 3 | 3 |
| **Fieldstone Mortgage Investment Trust**  |  |  |
| 4.226% due 05/25/2036 •  | 83 | 64 |
| 4.386% due 05/25/2036 •  | 1919 | 1444 |
| **Fremont Home Loan Trust**  |  |  |
| 4.116% due 10/25/2036 •  | 351 | 325 |
| 4.126% due 11/25/2036 •  | 2163 | 1292 |
| 4.146% due 10/25/2036 •  | 687 | 276 |
| 4.166% due 08/25/2036 •  | 9432 | 2931 |
| 4.186% due 02/25/2037 •  | 4406 | 1334 |
| 4.581% due 01/25/2035 •  | 13 | 13 |
| 4.896% due 11/25/2034 •  | 757 | 733 |
| **GE-WMC Asset-Backed Pass-Through Certificates** <br>4.486% due 12/25/2035 •  | 6010 | 5878 |
| **GSAA Home Equity Trust**  |  |  |
| 3.934% due 03/25/2036 ~  | 153 | 18 |
| 3.946% due 05/25/2037 •  | 170 | 61 |
| 3.986% due 03/25/2036 •  | 129 | 41 |
| 4.086% due 06/25/2036 •  | 56 | 10 |
| 4.246% due 03/25/2037 •  | 1288 | 351 |
| 4.486% due 04/25/2047 •  | 241 | 105 |
| 6.795% due 06/25/2036 þ  | 233 | 51 |
| **GSAA Trust**  |  |  |
| 4.911% due 06/25/2035 •  | 28 | 28 |
| 5.995% due 03/25/2046 ~  | 1193 | 415 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **GSAMP Trust**  |  |  |
| 3.936% due 01/25/2037 •  | 933 | 578 |
| 3.946% due 12/25/2046 •  | 124 | 62 |
| 3.986% due 12/25/2036 •  | 2154 | 1160 |
| 4.016% due 12/25/2036 •  | 253 | 126 |
| 4.026% due 11/25/2035 •  | 1 | 0 |
| 4.046% due 12/25/2046 •  | 90 | 45 |
| 4.106% due 12/25/2046 •  | 4707 | 2518 |
| 4.146% due 09/25/2036 •  | 3582 | 1243 |
| 4.146% due 12/25/2046 •  | 447 | 224 |
| 4.246% due 01/25/2047 •  | 1359 | 693 |
| 4.306% due 01/25/2037 •  | 3394 | 3008 |
| 4.326% due 03/25/2046 •  | 5 | 5 |
| 4.346% due 05/25/2046 •  | 316 | 307 |
| 5.646% due 06/25/2035 •  | 163 | 159 |
| **Home Equity Asset Trust** <br>4.521% due 02/25/2036 •  | 113 | 111 |
| **Home Equity Loan Trust**  |  |  |
| 4.076% due 04/25/2037 •  | 3086 | 3028 |
| 4.186% due 04/25/2037 •  | 314 | 284 |
| **HSI Asset Securitization Corp. Trust**  |  |  |
| 4.046% due 07/25/2036 •  | 104 | 44 |
| 4.066% due 12/25/2036 •  | 760 | 186 |
| 4.206% due 04/25/2037 •  | 704 | 464 |
| 4.326% due 11/25/2035 •  | 389 | 370 |
| **IXIS Real Estate Capital Trust**  |  |  |
| 4.246% due 03/25/2036 •  | 160 | 84 |
| 4.306% due 01/25/2037 •  | 10781 | 3548 |
| **JP Morgan Mortgage Acquisition Trust**  |  |  |
| 4.146% due 07/25/2036 •  | 53 | 25 |
| 4.266% due 10/25/2036 •  | 31 | 31 |
| 4.446% due 07/25/2036 •  | 1874 | 1836 |
| **Long Beach Mortgage Loan Trust**  |  |  |
| 4.146% due 05/25/2036 •  | 45 | 24 |
| 4.166% due 12/25/2036 •  | 322 | 221 |
| 4.186% due 12/25/2036 •  | 247 | 85 |
| 4.286% due 02/25/2036 •  | 189 | 187 |
| 4.366% due 08/25/2045 •  | 16 | 15 |
| 4.386% due 05/25/2046 •  | 310 | 92 |
| 4.446% due 01/25/2036 •  | 6204 | 5671 |
| 4.761% due 08/25/2035 •  | 5466 | 5083 |
| 4.821% due 04/25/2035 •  | 8 | 8 |
| **MASTR Asset-Backed Securities Trust**  |  |  |
| 3.946% due 01/25/2037 •  | 1151 | 326 |
| 4.046% due 10/25/2036 •  | 7587 | 3664 |
| 4.066% due 11/25/2036 •  | 463 | 135 |
| 4.166% due 10/25/2036 •  | 239 | 115 |
| 4.266% due 05/25/2037 •  | 870 | 849 |
| 4.326% due 03/25/2036 •  | 34 | 20 |
| 4.596% due 10/25/2035 •  | 6409 | 6355 |
| 6.546% due 07/25/2034 •  | 134 | 127 |
| **MASTR Specialized Loan Trust** <br>4.971% due 11/25/2035 •  | 402 | 388 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 4.066% due 07/25/2037 •  | 341 | 130 |
| 4.066% due 08/25/2037 •  | 2188 | 1078 |
| 4.346% due 07/25/2037 •  | 175 | 36 |
| 4.366% due 02/25/2037 •  | 617 | 174 |
| 4.470% due 03/25/2037 •  | 59679 | 14479 |
| **Morgan Stanley ABS Capital I, Inc. Trust**  |  |  |
| 3.926% due 11/25/2036 •  | 341 | 202 |
| 3.936% due 01/25/2037 •  | 252 | 117 |
| 3.956% due 12/25/2036 •  | 5915 | 2985 |
| 3.956% due 03/25/2037 •  | 512 | 219 |
| 3.976% due 10/25/2036 •  | 17 | 15 |
| 3.976% due 01/25/2037 •  | 198 | 92 |
| 3.976% due 02/25/2037 •  | 2377 | 1713 |
| 3.981% due 11/25/2036 •  | 337 | 215 |
| 4.026% due 03/25/2037 •  | 820 | 351 |
| 4.056% due 01/25/2037 •  | 181 | 84 |
| 4.061% due 03/25/2037 •  | 2532 | 998 |
| 4.076% due 10/25/2036 •  | 521 | 274 |
| 4.076% due 11/25/2036 •  | 1376 | 818 |
| 4.126% due 08/25/2036 •  | 336 | 169 |
| 4.166% due 09/25/2036 •  | 562 | 242 |
| 4.206% due 02/25/2037 •  | 14971 | 4773 |
| 4.346% due 04/25/2036 •  | 1770 | 1716 |
| 4.551% due 12/25/2034 •  | 18 | 18 |
| 4.701% due 03/25/2034 •  | 530 | 545 |
| 4.776% due 07/25/2035 •  | 290 | 286 |
| 7.646% due 02/25/2047 •  | 76 | 63 |
| **Morgan Stanley Dean Witter Capital I, Inc. Trust** <br>4.826% due 02/25/2033 •  | 20 | 20 |
| **Morgan Stanley Home Equity Loan Trust** <br>3.946% due 12/25/2036 •  | 880 | 423 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Morgan Stanley Mortgage Loan Trust**  |  |  |
| 4.026% due 12/25/2036 •  | 3383 | 1157 |
| 4.186% due 11/25/2036 •  | 27 | 8 |
| **Nationstar Home Equity Loan Trust** <br>4.386% due 09/25/2036 •  | 4724 | 4678 |
| **New Century Home Equity Loan Trust** <br>4.626% due 03/25/2035 •  | 299 | 299 |
| **Nomura Home Equity Loan, Inc. Home Equity Loan Trust**  |  |  |
| 4.506% due 10/25/2036 •  | 136 | 24 |
| 6.532% due 10/25/2036 þ  | 167 | 29 |
| **NovaStar Mortgage Funding Trust**  |  |  |
| 4.046% due 09/25/2037 •  | 181 | 179 |
| 4.166% due 10/25/2036 •  | 184 | 85 |
| **Option One Mortgage Loan Trust**  |  |  |
| 3.946% due 07/25/2036 •  | 3429 | 1584 |
| 3.976% due 07/25/2037 •  | 4824 | 3209 |
| 3.986% due 03/25/2037 •  | 1538 | 1425 |
| 4.066% due 04/25/2037 •  | 467 | 337 |
| 4.066% due 05/25/2037 •  | 355 | 216 |
| 4.126% due 01/25/2037 •  | 3980 | 2345 |
| 4.386% due 01/25/2036 •  | 1391 | 1327 |
| 4.626% due 02/25/2035 •  | 162 | 156 |
| **Ownit Mortgage Loan Trust**  |  |  |
| 4.671% due 08/25/2036 •  | 9559 | 8773 |
| 4.746% due 10/25/2036 •  | 21 | 21 |
| **Park Place Securities, Inc. Asset-Backed Pass-Through Certificates**  |  |  |
| 4.896% due 10/25/2034 •  | 12 | 11 |
| 5.571% due 02/25/2035 •  | 7592 | 7113 |
| 5.646% due 12/25/2034 •  | 13 | 13 |
| 5.721% due 12/25/2034 •  | 4101 | 3940 |
| **Popular ABS Mortgage Pass-Through Trust**  |  |  |
| 4.341% due 07/25/2036 •  | 197 | 189 |
| 4.716% due 02/25/2036 •  | 3028 | 2923 |
| **Renaissance Home Equity Loan Trust**  |  |  |
| 4.946% due 09/25/2037 •  | 157 | 63 |
| 5.586% due 11/25/2036 þ  | 2157 | 664 |
| 5.612% due 04/25/2037 þ  | 368 | 92 |
| **Residential Asset Mortgage Products Trust**  |  |  |
| 4.286% due 12/25/2035 •  | 12 | 11 |
| 4.536% due 10/25/2035 •  | 2 | 2 |
| **Residential Asset Securities Corporation Trust**  |  |  |
| 4.116% due 08/25/2036 •  | 195 | 194 |
| 4.426% due 06/25/2033 •  | 37 | 36 |
| 4.506% due 12/25/2035 •  | 2244 | 2226 |
| 4.731% due 12/25/2035 •  | 17408 | 16246 |
| 5.091% due 02/25/2035 •  | 4966 | 4906 |
| **Saxon Asset Securities Trust** <br>4.296% due 09/25/2036 •  | 8365 | 7220 |
| **Securitized Asset-Backed Receivables LLC Trust**  |  |  |
| 4.326% due 07/25/2036 •  | 711 | 271 |
| 4.491% due 10/25/2035 •  | 1844 | 1531 |
| 4.566% due 10/25/2035 •  | 1317 | 1173 |
| **SG Mortgage Securities Trust**  |  |  |
| 4.126% due 10/25/2036 •  | 84 | 79 |
| 4.731% due 10/25/2035 •  | 5879 | 5060 |
| **Soundview Home Loan Trust**  |  |  |
| 3.926% due 06/25/2037 •  | 44 | 30 |
| 4.016% due 07/25/2037 •  | 182 | 165 |
| 4.016% due 08/25/2037 •  | 596 | 525 |
| 4.046% due 06/25/2037 •  | 691 | 480 |
| 4.206% due 02/25/2037 •  | 2021 | 538 |
| 4.311% due 02/25/2036 •  | 648 | 617 |
| 4.366% due 02/25/2037 •  | 116 | 31 |
| 4.746% due 10/25/2037 •  | 3460 | 2730 |
| 5.146% due 10/25/2037 •  | 983 | 776 |
| **Structured Asset Investment Loan Trust**  |  |  |
| 4.026% due 09/25/2036 •  | 5811 | 3605 |
| 4.106% due 07/25/2036 •  | 23 | 17 |
| 4.466% due 01/25/2036 •  | 51 | 48 |
| 4.626% due 02/25/2035 •  | 315 | 314 |
| 4.776% due 06/25/2035 •  | 172 | 168 |
| 4.796% due 08/25/2033 •  | 97 | 96 |
| 6.996% due 08/25/2033 •  | 120 | 110 |
| **Structured Asset Securities Corp. Mortgage Loan Trust**  |  |  |
| 4.006% due 03/25/2036 •  | 6 | 6 |
| 4.156% due 08/25/2046 •  | 2537 | 2375 |
| 4.266% due 02/25/2037 •  | 202 | 199 |
| **WaMu Asset-Backed Certificates WaMu Trust**  |  |  |
| 4.071% due 05/25/2037 •  | 79 | 76 |
| 4.086% due 05/25/2037 •  | 348 | 314 |
| **Washington Mutual Asset-Backed Certificates Trust**  |  |  |
| 3.731% due 11/25/2036 •  | 676 | 214 |
| 3.797% due 08/25/2036 •  | 1434 | 1366 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Wells Fargo Home Equity Asset-Backed Securities Trust** <br>4.596% due 12/25/2035 •  | 123 | 123 |
|  |  | 286077 |
| **HOME EQUITY SEQUENTIAL 0.0%**  |  |  |
| **Morgan Stanley Mortgage Loan Trust** <br>4.566% due 04/25/2037 •  | 30 | 8 |
|  |  | 8 |
| **WHOLE LOAN COLLATERAL 2.4%**  |  |  |
| **Bear Stearns Asset-Backed Securities Trust** <br>5.884% due 10/25/2036 ~ | 2 | 2 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.266% due 08/25/2036 •  | 2387 | 2373 |
| 4.296% due 10/25/2036 •  | 5 | 5 |
| 7.250% due 05/25/2036 þ  | 303 | 149 |
| **First Franklin Mortgage Loan Trust**  |  |  |
| 3.951% due 10/25/2036 •  | 10314 | 9646 |
| 4.006% due 11/25/2036 •  | 7 | 8 |
| 4.156% due 09/25/2036 •  | 5491 | 5179 |
| 4.326% due 04/25/2036 •  | 2757 | 2568 |
| 4.346% due 06/25/2036 •  | 3500 | 3294 |
| 4.566% due 11/25/2035 •  | 280 | 266 |
| **GSRPM Mortgage Loan Trust** <br>5.196% due 03/25/2035 •  | 911 | 1017 |
| **Lehman XS Trust** <br>4.166% due 05/25/2036 •  | 52 | 46 |
| **RAAC Trust** <br>4.551% due 02/25/2036 •  | 5172 | 5049 |
| **Residential Asset Mortgage Products Trust**  |  |  |
| 4.446% due 03/25/2036 •  | 64 | 64 |
| 5.096% due 10/25/2034 •  | 843 | 809 |
| 5.189% due 08/25/2034 •  | 2093 | 2113 |
| **Securitized Asset-Backed Receivables LLC Trust**  |  |  |
| 3.946% due 10/25/2036 •  | 22247 | 7376 |
| 4.006% due 08/25/2036 •  | 2051 | 669 |
| 4.186% due 08/25/2036 •  | 16 | 5 |
| 4.506% due 08/25/2035 •  | 27 | 21 |
| 4.806% due 01/25/2036 •  | 176 | 165 |
| 4.896% due 03/25/2035 •  | 30 | 30 |
| **Specialty Underwriting & Residential Finance Trust**  |  |  |
| 3.986% due 11/25/2037 •  | 2067 | 1136 |
| 4.146% due 06/25/2037 •  | 34 | 21 |
| 4.146% due 09/25/2037 •  | 240 | 168 |
| 4.546% due 04/25/2037 •  | 2535 | 1884 |
| 4.602% due 12/25/2036 •  | 143 | 140 |
|  |  | 44203 |
| **OTHER ABS 6.7%**  |  |  |
| **Anchorage Credit Funding 1 Ltd.** <br>3.900% due 07/28/2037 | 1103 | 1094 |
| **Anchorage Credit Funding 12 Ltd.** <br>3.177% due 10/25/2038 | 1200 | 1177 |
| **Anchorage Credit Funding 13 Ltd.** <br>2.875% due 07/27/2039 | 500 | 482 |
| **Anchorage Credit Funding 14 Ltd.** <br>3.000% due 01/21/2040 | 600 | 577 |
| **Anchorage Credit Funding 3 Ltd.** <br>2.871% due 01/28/2039 | 500 | 485 |
| **Anchorage Credit Funding 4 Ltd.** <br>2.723% due 04/27/2039 | 700 | 669 |
| **Anchorage Credit Funding 7 Ltd.** <br>4.620% due 04/25/2037 | 287 | 286 |
| **Anchorage Credit Funding 8 Ltd.** <br>4.430% due 07/25/2037 | 444 | 443 |
| **Ascent Education Funding Trust** <br>6.140% due 10/25/2050 | 673 | 692 |
| **Atlas Senior Loan Fund XVII Ltd.** <br>4.944% due 10/20/2034 •  | 2500 | 2494 |
| **BHG Securitization Trust** <br>5.260% due 04/17/2036 | 2694 | 2724 |
| **Black Diamond CLO DAC** <br>3.044% due 05/15/2032 •  | 2754 | 3240 |
| **BlueMountain CLO Ltd.** <br>5.048% due 10/25/2030 •  | $2232 | 2235 |
| **Cairn CLO VII DAC** <br>2.736% due 01/31/2030 •  | 423 | 498 |
| **Cairn CLO X DAC** <br>2.789% due 10/15/2031 •  | 1434 | 1687 |
| **Carlyle Euro CLO DAC** <br>2.954% due 08/15/2032 •  | 4714 | 5546 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Centerbridge Credit Funding 1 Ltd.** <br>3.164% due 07/25/2039 | $600 | 584 |
| **CVC Cordatus Loan Fund XXIV DAC** <br>3.266% due 10/23/2034 •  | 3970 | 4674 |
| **Diameter Capital CLO 6 Ltd.** <br>5.515% due 04/15/2037 •  | $5000 | 5026 |
| **Invesco Euro CLO I DAC** <br>2.659% due 07/15/2031 •  | 576 | 677 |
| **KKR CLO 21 Ltd.** <br>5.566% due 04/15/2031 •  | $3850 | 3862 |
| **Man GLG Euro CLO V DAC** <br>2.790% due 12/15/2031 •  | 865 | 1017 |
| **Massachusetts Educational Financing Authority** <br>5.525% due 04/25/2038 •  | $4 | 4 |
| **Navesink CLO 2 Ltd.** <br>5.175% due 04/15/2036 •  | 5300 | 5300 |
| **Navient Private Education Refi Loan Trust** <br>3.480% due 04/15/2060 | 2782 | 2616 |
| **Nelnet Student Loan Trust**  |  |  |
| 6.118% due 02/20/2041 •  | 661 | 676 |
| 6.640% due 02/20/2041  | 603 | 628 |
| **OCP Euro CLO DAC** <br>3.300% due 10/20/2039 •  | 2500 | 2940 |
| **Octagon Investment Partners 39 Ltd.** <br>5.034% due 10/20/2030 •  | $926 | 928 |
| **Octagon Investment Partners 40 Ltd.** <br>4.924% due 01/20/2035 •  | 2200 | 2199 |
| **Oportun Issuance Trust** <br>5.860% due 02/09/2032 | 88 | 88 |
| **OZLM XXIV Ltd.**  |  |  |
| 5.596% due 07/20/2032 •  | 6650 | 6660 |
| 5.846% due 07/20/2032 •  | 4050 | 4068 |
| **Pagaya AI Debt Grantor Trust**  |  |  |
| 5.329% due 10/15/2032  | 5099 | 5126 |
| 5.628% due 07/15/2032  | 5650 | 5698 |
| **Pagaya AI Debt Trust**  |  |  |
| 5.373% due 01/17/2033  | 1800 | 1816 |
| 6.258% due 10/15/2031  | 629 | 631 |
| 6.660% due 07/15/2031  | 456 | 457 |
| 7.573% due 08/15/2031  | 1935 | 1945 |
| **Pikes Peak CLO 2** <br>5.104% due 10/11/2034 •  | 3400 | 3404 |
| **Reach ABS Trust** <br>5.340% due 08/16/2032 | 1000 | 1015 |
| **Romark Credit Funding II Ltd.** <br>2.625% due 10/25/2039 | 500 | 475 |
| **Sculptor European CLO VI DAC** <br>3.059% due 10/15/2034 •  | 11010 | 12952 |
| **SLM Student Loan Trust** <br>2.465% due 10/25/2039 •  | 569 | 623 |
| **SMB Private Education Loan Trust**  |  |  |
| 1.310% due 07/17/2051  | $3451 | 3271 |
| 4.550% due 02/16/2055  | 8392 | 8245 |
| 5.524% due 11/15/2052 •  | 897 | 907 |
| **SoFi Professional Loan Program LLC** <br>2.540% due 05/15/2046 | 365 | 353 |
| **Thayer Park CLO Ltd.** <br>4.868% due 04/20/2034 •  | 2700 | 2699 |
| **Venture XXVII CLO Ltd.** <br>5.196% due 07/20/2030 •  | 97 | 97 |
| **Vibrant CLO XI Ltd.** <br>5.846% due 07/20/2032 •  | 9125 | 9165 |
| **Wellfleet CLO Ltd.** <br>5.064% due 04/20/2034 •  | 1900 | 1902 |
|  |  | 127057 |
| Total Asset-Backed Securities (Cost $587,319) |  | 543610 |
| **SOVEREIGN ISSUES 13.4%**  |  |  |
| **Bonos de la Tesoreria de la Republica en pesos**  |  |  |
| 5.000% due 10/01/2028  | 12845000 | 14373 |
| 5.800% due 10/01/2029  | 805000 | 917 |
| **Colombia Government International Bonds** <br>8.375% due 11/07/2054 (i) | $4600 | 4892 |
| **Colombia TES**  |  |  |
| 2.250% due 04/18/2029 (f)  | 4845007 | 1134 |
| 11.000% due 08/22/2029  | 92972500 | 23269 |
| 11.750% due 01/24/2035  | 17844600 | 4400 |
| 12.750% due 11/28/2040  | 18911500 | 4910 |
| 13.250% due 02/09/2033  | 16370100 | 4392 |
| **Development Bank of Kazakhstan JSC** <br>18.400% due 10/16/2028 | 372000 | 762 |
| **Eagle Funding Luxco SARL** <br>5.500% due 08/17/2030 | $11200 | 11422 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Ecuador Government International Bonds** <br>0.000% due 07/31/2030 (d) | 3100 | 2657 |
| **Egypt Government Bonds** <br>21.954% due 03/04/2028 | 169400 | 3556 |
| **Ivory Coast Government International Bonds** <br>6.625% due 03/22/2048 | 3600 | 3834 |
| **Mexico Bonos** <br>8.500% due 03/01/2029 | 414800 | 23259 |
| **Peru Government Bonds**  |  |  |
| 6.850% due 08/12/2035  | 700 | 225 |
| 7.300% due 08/12/2033  | 36200 | 12290 |
| **Peru Government International Bonds**  |  |  |
| 5.400% due 08/12/2034  | 41300 | 12262 |
| 6.150% due 08/12/2032  | 153400 | 49251 |
| 6.950% due 08/12/2031  | 4641 | 1535 |
| **Republic of Poland Government Bonds** <br>4.750% due 07/25/2029 | 33430 | 9475 |
| **Republic of South Africa Government Bonds**  |  |  |
| 6.250% due 03/31/2036  | 352430 | 18196 |
| 7.000% due 02/28/2031  | 266490 | 15744 |
| 8.000% due 01/31/2030  | 73400 | 4533 |
| 8.250% due 03/31/2032  | 33700 | 2088 |
| 8.500% due 01/31/2037  | 44000 | 2641 |
| 8.875% due 02/28/2035  | 195200 | 12301 |
| **Romania Government International Bonds** <br>6.750% due 07/11/2039 | 4700 | 5762 |
| **Turkiye Government Bonds**  |  |  |
| 39.431% (BISTREFI + 0.000%) due 05/20/2026 ~  | 800 | 19 |
| 39.431% (BISTREFI + 0.000%) due 08/19/2026 ~  | 700 | 17 |
| 39.431% (BISTREFI + 0.000%) due 05/17/2028 ~  | 104700 | 2437 |
| Total Sovereign Issues (Cost $229,345) |  | 252553 |
|  | SHARES |  |
| **EXCHANGE-TRADED FUNDS 10.4%**  |  |  |
| **iShares Core S&P 500 ETF** | 286096 | 195959 |
| Total Exchange-Traded Funds (Cost $194,308) |  | 195959 |
| **SHORT-TERM INSTRUMENTS 17.7%**  |  |  |
| **REPURCHASE AGREEMENTS (h) 17.1%** |  | 321600 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **NIGERIA TREASURY BILLS 0.1%**  |  |  |
| 30.968% due 06/26/2026 - 06/29/2026 (c)(d) | 4219813 | 2649 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **SOUTH AFRICA TREASURY BILLS 0.0%**  |  |  |
| 7.505% due 06/17/2026 (d)(e) | 13600 | 798 |
| **U.S. TREASURY BILLS 0.5%**  |  |  |
| 3.830% due 01/27/2026 - 04/21/2026 (c)(d)(m) | $10332 | 10260 |
| Total Short-Term Instruments (Cost $335,056) |  | 335307 |
| Total Investments in Securities (Cost $3,533,239) |  | 3501098 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 0.0%**  |  |  |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 4148 | 40 |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | |
|:---|:---|
| Total Short-Term Instruments (Cost $40) | 40 |
| Total Investments in Affiliates (Cost $40) | 40 |
| Total Investments 185.8% (Cost $3,533,279) | $3501138 |
| **Financial Derivative Instruments (j)(l) 2.1**%(Cost or Premiums, net $52,476) | 38790 |
| Other Assets and Liabilities, net (87.9)% | (1655818) |
| Net Assets 100.0% | $1884110 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 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:**  | **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.** | **\* 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.** | **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).** | **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.** | **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.** | **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.** | **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)** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** |
| **(b)** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** |
| **(c)** | **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.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** |
| **(d)** | **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.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(e)** | **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.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** |
| **(f)** | **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.** | **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.** |
| **(g)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **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** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **(h)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Lending<br>Rate | Maturity<br>Date | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 3.750%  | 01/02/2026 | 2000 | &nbsp;&nbsp; U.S. Treasury Notes 0.625% due 08/15/2030 | &nbsp;&nbsp; U.S. Treasury Notes 0.625% due 08/15/2030 | &nbsp;&nbsp; U.S. Treasury Notes 0.625% due 08/15/2030 | &nbsp;&nbsp; U.S. Treasury Notes 0.625% due 08/15/2030 | &nbsp;&nbsp; U.S. Treasury Notes 0.625% due 08/15/2030 | &nbsp;&nbsp; U.S. Treasury Notes 0.625% due 08/15/2030 | (2038) | (2038) | 2000 | 2000 | $2000 |
|  | 3.790  | 01/05/2026 | 147900 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | (150848) | (150848) | 147900 | 147900 | 147900 |
|  | 3.870  | 01/02/2026 | 146200 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2029 | (149015) | (149015) | 146200 | 146200 | 146231 |
| SAL | 3.870  | 01/02/2026 | 25500 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | (26029) | (26029) | 25500 | 25500 | 25506 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  |  |  | **(327930)** | **(327930)** | **321600** | **321600** | $**321637** |
| **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:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Counterparty | Borrowing Rate<sup>(2)</sup> | Borrowing Rate<sup>(2)</sup> | Settlement Date | Settlement Date | Maturity Date | Maturity Date |  | Amount<br>Borrowed<sup>(2)</sup> | Amount<br>Borrowed<sup>(2)</sup> | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| MYI | MYI | MYI | 3.100%  | 3.100%  | 12/12/2025 | 12/12/2025 | TBD<sup>(3)</sup> | TBD<sup>(3)</sup> | $ | (4850) | (4850) | (4850) | (4859) | (4859) |
| WFS | WFS | WFS | 3.970  | 3.970  | 12/11/2025 | 12/11/2025 | 01/07/2026 | 01/07/2026 |  | (52114) | (52114) | (52114) | (52241) | (52241) |
|  |  |  | 3.990  | 3.990  | 12/29/2025 | 12/29/2025 | 01/07/2026 | 01/07/2026 |  | (48489) | (48489) | (48489) | (48510) | (48510) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  |  |  | **(105610)** | **(105610)** |
| **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Description | Description | Coupon | Coupon | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | Proceeds | Proceeds | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% | U.S. Government Agencies (14.5)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | 3.000% | 3.000% | 02/01/2056 | $64500 | 64500 | $ | (57700) | (57700) | $(57891) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 2.000 | 2.000 | 02/01/2056 | 45460 | 45460 |  | (36855) | (36855) | (36750) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 2.500 | 2.500 | 02/01/2056 | 65960 | 65960 |  | (55811) | (55811) | (55762) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 3.500 | 3.500 | 02/01/2056 | 134090 | 134090 |  | (123551) | (123551) | (123556) |
| **Total Short Sales (14.5)%** | **Total Short Sales (14.5)%** | **Total Short Sales (14.5)%** | **Total Short Sales (14.5)%** | **Total Short Sales (14.5)%** | **Total Short Sales (14.5)%** |  |  |  |  |  | **$** | **(273917)** | **(273917)** | $**(273959)** |
| **(i)** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $109,786 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |
| <sup>(2)</sup> | The average amount of borrowings outstanding during the period ended December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. 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 December 31, 2025 was $(1204) at a weighted average interest rate of 4.128%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| <sup>(3)</sup> | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. |
| **(j)** | **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** | **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** |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** |
| Description | Description | Description | Description | Description | Description | Strike<br>Price | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional Amount | Notional Amount | Premiums<br>(Received) | Premiums<br>(Received) |  | Market<br>Value |
| Put - CBOT U.S. Treasury 10-Year Note March Futures  | Put - CBOT U.S. Treasury 10-Year Note March Futures  | Put - CBOT U.S. Treasury 10-Year Note March Futures  | Put - CBOT U.S. Treasury 10-Year Note March Futures  | Put - CBOT U.S. Treasury 10-Year Note March Futures  | Put - CBOT U.S. Treasury 10-Year Note March Futures  | $111.000 | 111.000 | 111.000 | 02/20/2026 | $297 | 297 | (157) | (157) | $ | (79) |
| Call - CBOT U.S. Treasury 10-Year Note March Futures  | Call - CBOT U.S. Treasury 10-Year Note March Futures  | Call - CBOT U.S. Treasury 10-Year Note March Futures  | Call - CBOT U.S. Treasury 10-Year Note March Futures  | Call - CBOT U.S. Treasury 10-Year Note March Futures  | Call - CBOT U.S. Treasury 10-Year Note March Futures  | 114.000 | 114.000 | 114.000 | 02/20/2026 | 297 | 297 | (195) | (195) |  | (58) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **(352)** | **(352)** | **$** | **(137)** |
| **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **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** | **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> | <u>Variation Margin</u> |
| Description | Description |  | 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) | Asset | Asset | Asset | Liability |
| 30-Day Federal Fund February Futures  | 30-Day Federal Fund February Futures  | 30-Day Federal Fund February Futures  | 02/2026 | 02/2026 | 489 | 489 | $ | 196441 | 196441 | (68) | (68) | 0 | 0 | 0 | 0 |
| 30-Day Federal Fund May Futures  | 30-Day Federal Fund May Futures  | 30-Day Federal Fund May Futures  | 05/2026 | 05/2026 | 190 | 190 |  | 76449 | 76449 | (142) | (142) | 0 | 0 | 0 | (8) |
| Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | 03/2026 | 03/2026 | 339 | 339 |  | 24769 | 24769 | 44 | 44 | 28 | 28 | 28 | 0 |
| California Carbon Allowance Vintage December Futures  | California Carbon Allowance Vintage December Futures  | California Carbon Allowance Vintage December Futures  | 12/2026 | 12/2026 | 43 | 43 |  | 1415 | 1415 | 8 | 8 | 4 | 4 | 4 | 0 |
| Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | 03/2026 | 03/2026 | 618 | 618 |  | 92651 | 92651 | (1284) | (1284) | 0 | 0 | 0 | (167) |
| Euro-Buxl 30-Year Bond March Futures  | Euro-Buxl 30-Year Bond March Futures  | Euro-Buxl 30-Year Bond March Futures  | 03/2026 | 03/2026 | 1 | 1 |  | 129 | 129 | (2) | (2) | 0 | 0 | 0 | (1) |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 03/2026 | 883 | 883 |  | 184361 | 184361 | (36) | (36) | 0 | 0 | 0 | (62) |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 03/2026 | 4721 | 4721 |  | 516027 | 516027 | (1291) | (1291) | 0 | 0 | 0 | (553) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 981 | 981 |  | 110301 | 110301 | (89) | (89) | 0 | 0 | 0 | (199) |
| U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | 03/2026 | 03/2026 | 273 | 273 |  | 31557 | 31557 | (315) | (315) | 0 | 0 | 0 | (60) |
|  |  |  |  |  |  |  |  |  |  | (3175) | $ | 32 | 32 | 32 | (1050) |
| **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 |  | 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) | Asset | Asset | Asset | Liability |
| Adjusted Interest Rate S&P 500 Total Return January Futures  | Adjusted Interest Rate S&P 500 Total Return January Futures  | Adjusted Interest Rate S&P 500 Total Return January Futures  | 01/2026 | 01/2026 | 258 | 258 | $ | (86467) | (86467) | 293 | 293 | 750 | 750 | 750 | 0 |
| Adjusted Interest Rate S&P 500 Total Return March Futures  | Adjusted Interest Rate S&P 500 Total Return March Futures  | Adjusted Interest Rate S&P 500 Total Return March Futures  | 03/2026 | 03/2026 | 256 | 256 |  | (85905) | (85905) | (1097) | (1097) | 749 | 749 | 749 | 0 |
| Euro-Oat March Futures  | Euro-Oat March Futures  | Euro-Oat March Futures  | 03/2026 | 03/2026 | 688 | 688 |  | (97502) | (97502) | 1013 | 1013 | 235 | 235 | 235 | 0 |
| Japan Government 10-Year Bond March Futures  | Japan Government 10-Year Bond March Futures  | Japan Government 10-Year Bond March Futures  | 03/2026 | 03/2026 | 93 | 93 |  | (78614) | (78614) | 530 | 530 | 172 | 172 | 172 | 0 |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 03/2026 | 440 | 440 |  | (51920) | (51920) | 101 | 101 | 165 | 165 | 165 | 0 |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 892 | 892 |  | (102594) | (102594) | 413 | 413 | 167 | 167 | 167 | 0 |
|  |  |  |  |  |  |  |  |  |  | 1253 | $ | 2238 | 2238 | 2238 | 0 |
| **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** | **(1922)** | **$** | **2270** | **2270** | **2270** | **(1050)** |
| **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 - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Reference Entity | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> |  | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) | 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 |
| Bank of America Corp.  | 12/20/2026 | 0.299 | 0.299 | $ | $5700 | 5700 | 5700 | 74 | 74 | (34) | 40 | 40 | 1 | 1 | 0 |
| Deutsche Bank Aktiengesellschaft  | 12/20/2031 | 0.892 | 0.892 | EUR | 3100 | 3100 | 3100 | (61) | (61) | 84 | 23 | 23 | 0 | 0 | 0 |
| General Electric Co.  | 06/20/2026 | 0.051 | 0.051 | $ | $5100 | 5100 | 5100 | 34 | 34 | (10) | 24 | 24 | 0 | 0 | 0 |
| General Electric Co.  | 12/20/2026 | 0.064 | 0.064 |  | 500 | 500 | 500 | 6 | 6 | (1) | 5 | 5 | 0 | 0 | 0 |
| Morgan Stanley  | 06/20/2026 | 0.226 | 0.226 |  | 1600 | 1600 | 1600 | 9 | 9 | (3) | 6 | 6 | 0 | 0 | 0 |
|  |  |  |  |  |  |  |  | $62 | 62 | 36 | 98 | 98 | $1 | 1 | $0 |
| **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Payment<br>Frequency | 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) | 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.IG-44 5-Year Index  | Quarterly | 06/20/2030 | 06/20/2030 | $ | 143990 | 143990 | 143990 | (2389) | (2389) | (884) | (3273) | (3273) | 0 | 0 | (1) |

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------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | (1.000) | (1.000) | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 |  | 510520 |  | (11199) |  | (517) |  | (11716) | 0 |  | (8) |
|  |  |  |  |  |  |  |  |  |  | $ | (13588) | $ | (1401) | $ | (14989) | 0 | $ | (9) |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Floating Rate Index | Fixed Rate | Fixed Rate | Payment<br>Frequency | Payment<br>Frequency | 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 | Asset | Asset | Liability |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 3.750% | 3.750% | Annual | Annual | 09/17/2030 | GBP | 160400 | 160400 | $(706) | (706) | $1596 | 1596 | 890 | $181 | 181 | $0 |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 4.320 | 4.320 | Annual | Annual | 10/20/2033 |  | 800 | 800 | (4) | (4) | 39 | 39 | 35 | 1 | 1 | 0 |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 3.700 | 3.700 | Annual | Annual | 03/28/2034 |  | 500 | 500 | (2) | (2) | 13 | 13 | 11 | 0 | 0 | (1) |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 4.000 | 4.000 | Annual | Annual | 09/17/2035 |  | 20200 | 20200 | (593) | (593) | 642 | 642 | 49 | 28 | 28 | 0 |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 4.500 | 4.500 | Annual | Annual | 09/17/2055 |  | 10250 | 10250 | 484 | 484 | (601) | (601) | (117) | 0 | 0 | (27) |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 1-Day JPY-MUTKCALM Compounded-OIS | 2.000 | 2.000 | Annual | Annual | 06/18/2055 | JPY | 1310000 | 1310000 | 17 | 17 | (1378) | (1378) | (1361) | 0 | 0 | (29) |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 1-Day JPY-MUTKCALM Compounded-OIS | 2.500 | 2.500 | Annual | Annual | 12/17/2055 |  | 2980000 | 2980000 | (56) | (56) | (1255) | (1255) | (1311) | 0 | 0 | (75) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.000 | 4.000 | Annual | Annual | 06/20/2026 | $ | $137320 | 137320 | (316) | (316) | 269 | 269 | (47) | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.982 | 3.982 | Annual | Annual | 09/30/2026 |  | 119600 | 119600 | 0 | 0 | 377 | 377 | 377 | 0 | 0 | (14) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | 3.500 | Annual | Annual | 12/17/2027 |  | 480 | 480 | (2) | (2) | 0 | 0 | (2) | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | 3.250 | Annual | Annual | 06/21/2028 |  | 109250 | 109250 | 1089 | 1089 | (331) | (331) | 758 | 82 | 82 | 0 |
| Pay<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.150 | 3.150 | Annual | Annual | 08/25/2028 |  | 169200 | 169200 | (232) | (232) | (24) | (24) | (256) | 0 | 0 | (65) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.842 | 3.842 | Annual | Annual | 02/28/2029 |  | 136730 | 136730 | 0 | 0 | 1468 | 1468 | 1468 | 0 | 0 | (139) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.842 | 3.842 | Annual | Annual | 03/04/2030 |  | 3200 | 3200 | (6) | (6) | (36) | (36) | (42) | 4 | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.000 | 3.000 | Annual | Annual | 06/21/2030 |  | 94750 | 94750 | 1270 | 1270 | 1039 | 1039 | 2309 | 145 | 145 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 09/17/2030 |  | 24830 | 24830 | (345) | (345) | 40 | 40 | (305) | 39 | 39 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.000 | 1.000 | Semi-Annual | Semi-Annual | 12/16/2030 |  | 65390 | 65390 | 802 | 802 | 7424 | 7424 | 8226 | 111 | 111 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 12/17/2030 |  | 210880 | 210880 | (4020) | (4020) | 1254 | 1254 | (2766) | 342 | 342 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | 3.500 | Annual | Annual | 12/20/2030 |  | 106530 | 106530 | 888 | 888 | (1062) | (1062) | (174) | 174 | 174 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 12/18/2031 |  | 30700 | 30700 | 89 | 89 | (458) | (458) | (369) | 54 | 54 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 09/17/2032 |  | 32290 | 32290 | (505) | (505) | 220 | 220 | (285) | 63 | 63 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 12/17/2032 |  | 13910 | 13910 | (315) | (315) | 189 | 189 | (126) | 28 | 28 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.000 | 3.000 | Annual | Annual | 06/21/2033 |  | 121830 | 121830 | 7706 | 7706 | (1804) | (1804) | 5902 | 251 | 251 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.535 | 3.535 | Annual | Annual | 11/06/2034 |  | 4600 | 4600 | (16) | (16) | (52) | (52) | (68) | 0 | 0 | (10) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 12/18/2034 |  | 77250 | 77250 | (478) | (478) | 397 | 397 | (81) | 179 | 179 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.015 | 4.015 | Annual | Annual | 12/30/2034 |  | 800 | 800 | (3) | (3) | 18 | 18 | 15 | 0 | 0 | (2) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.933 | 3.933 | Annual | Annual | 01/06/2035 |  | 1700 | 1700 | (5) | (5) | 24 | 24 | 19 | 0 | 0 | (4) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.840 | 3.840 | Annual | Annual | 01/08/2035 |  | 1400 | 1400 | (4) | (4) | 9 | 9 | 5 | 0 | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.850 | 3.850 | Annual | Annual | 01/08/2035 |  | 800 | 800 | (2) | (2) | 5 | 5 | 3 | 0 | 0 | (2) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.890 | 3.890 | Annual | Annual | 01/08/2035 |  | 1100 | 1100 | (3) | (3) | 12 | 12 | 9 | 0 | 0 | (2) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.896 | 3.896 | Annual | Annual | 01/08/2035 |  | 1500 | 1500 | (4) | (4) | 16 | 16 | 12 | 0 | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.900 | 3.900 | Annual | Annual | 01/08/2035 |  | 1500 | 1500 | (4) | (4) | 17 | 17 | 13 | 0 | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.970 | 3.970 | Annual | Annual | 01/15/2035 |  | 1900 | 1900 | (5) | (5) | 33 | 33 | 28 | 0 | 0 | (4) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.071 | 4.071 | Annual | Annual | 01/15/2035 |  | 2900 | 2900 | (8) | (8) | 76 | 76 | 68 | 0 | 0 | (7) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.100 | 4.100 | Annual | Annual | 01/21/2035 |  | 800 | 800 | (2) | (2) | 23 | 23 | 21 | 0 | 0 | (2) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.090 | 4.090 | Annual | Annual | 01/22/2035 |  | 1700 | 1700 | (5) | (5) | 48 | 48 | 43 | 0 | 0 | (4) |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 02/26/2035 |  | 1300 | (5) | (18) | (23) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 03/03/2035 |  | 750 | (3) | (3) | (6) | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.908 | Annual | 03/04/2035 |  | 1400 | (5) | (8) | (13) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.870 | Annual | 03/05/2035 |  | 600 | (2) | (2) | (4) | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | 03/05/2035 |  | 1800 | (6) | (6) | (12) | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.899 | Annual | 03/11/2035 |  | 1500 | (5) | (8) | (13) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 |  | 1500 | (4) | (10) | (14) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 03/21/2035 |  | 2200 | (6) | (28) | (34) | 5 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | 03/24/2035 |  | 2600 | (8) | (22) | (30) | 6 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.884 | Annual | 03/25/2035 |  | 1800 | (5) | (9) | (14) | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/07/2035 |  | 2600 | (13) | 3 | (10) | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2035 |  | 205880 | 474 | 237 | 711 | 491 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2035 |  | 37220 | 189 | (342) | (153) | 0 | (92) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2039 |  | 43400 | 718 | 506 | 1224 | 119 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/18/2040 |  | 8000 | 360 | 147 | 507 | 22 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2044 |  | 24400 | 381 | 957 | 1338 | 72 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 02/20/2049 |  | 22900 | 348 | 1439 | 1787 | 73 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.046 | Annual | 11/15/2052 |  | 15650 | 0 | (337) | (337) | 0 | (53) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.054 | Annual | 11/15/2052 |  | 16280 | 0 | (332) | (332) | 0 | (55) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.750 | Annual | 06/21/2053 |  | 26400 | 1424 | 5025 | 6449 | 77 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/20/2054 |  | 24890 | (558) | 3498 | 2940 | 80 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/18/2054 |  | 67460 | 1045 | 6688 | 7733 | 215 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2055 |  | 34600 | (4593) | (1046) | (5639) | 0 | (107) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 09/17/2055 |  | 50570 | (4335) | (1500) | (5835) | 0 | (161) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2055 |  | 19830 | 508 | 925 | 1433 | 65 | 0 |
| Pay<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.110 | Annual | 08/25/2057 |  | 700 | 0 | (13) | (13) | 0 | (2) |
| Pay | 1-Year BRL-CDI | 13.926 | Maturity | 01/04/2027 | BRL | 9400 | 0 | (8) | (8) | 0 | (2) |
| Pay | 1-Year BRL-CDI | 13.927 | Maturity | 01/04/2027 |  | 81800 | 0 | (69) | (69) | 0 | (13) |
| Pay | 1-Year BRL-CDI | 14.009 | Maturity | 01/04/2027 |  | 27000 | 0 | (13) | (13) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 12.975 | Maturity | 01/02/2029 |  | 133200 | 0 | (79) | (79) | 0 | (1) |
| Pay | 1-Year BRL-CDI | 13.245 | Maturity | 01/02/2029 |  | 187200 | 0 | (39) | (39) | 0 | (1) |
| Pay | 1-Year BRL-CDI | 13.291 | Maturity | 01/02/2029 |  | 65600 | (1) | (61) | (62) | 0 | (23) |
| Pay | 1-Year BRL-CDI | 13.320 | Maturity | 01/02/2029 |  | 5200 | 0 | (4) | (4) | 0 | (1) |
| Receive | 3-Month COP-IBR Compounded-OIS | 8.590 | Quarterly | 08/22/2029 | COP | 38842100 | 0 | 681 | 681 | 0 | (12) |
| Receive | 3-Month COP-IBR Compounded-OIS | 8.933 | Quarterly | 08/22/2029 |  | 35405000 | 0 | 523 | 523 | 0 | (10) |
| Receive | 3-Month PLN-WIBOR | 4.136 | Annual | 07/25/2029 | PLN | 9360 | (17) | (23) | (40) | 0 | (2) |
| Receive | 3-Month PLN-WIBOR | 4.930 | Annual | 07/25/2029 |  | 26100 | 0 | (311) | (311) | 0 | (6) |
| Receive<sup>(6)</sup> | 3-Month PLN-WIBOR | 4.723 | Annual | 12/01/2035 |  | 8200 | 1 | (4) | (3) | 0 | (1) |
| Receive<sup>(6)</sup> | 3-Month PLN-WIBOR | 4.685 | Annual | 12/02/2035 |  | 1300 | 0 | 0 | 0 | 0 | 0 |
| Receive<sup>(6)</sup> | 3-Month PLN-WIBOR | 4.730 | Annual | 12/31/2035 |  | 700 | 0 | 0 | 0 | 0 | 0 |
| Receive | 3-Month ZAR-JIBAR | 7.205 | Quarterly | 02/28/2031 | ZAR | 199900 | (94) | (204) | (298) | 0 | (12) |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/20/2033 | AUD | 61000 | 34 | (323) | (289) | 0 | (39) |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 06/18/2035 |  | 22800 | 434 | (740) | (306) | 0 | (29) |
| Receive | 6-Month CLP-CHILIBOR | 4.568 | Semi-Annual | 10/01/2028 | CLP | 8068600 | 0 | (6) | (6) | 0 | (5) |
| Receive | 6-Month CLP-CHILIBOR | 4.580 | Semi-Annual | 10/01/2028 |  | 4200700 | 0 | (4) | (4) | 0 | (2) |
| Pay | 6-Month CZK-PRIBOR | 3.760 | Annual | 11/01/2034 | CZK | 2500 | (1) | (2) | (3) | 0 | 0 |
| Pay<sup>(6)</sup> | 6-Month CZK-PRIBOR | 4.523 | Annual | 12/01/2035 |  | 45640 | (1) | 6 | 5 | 3 | 0 |
| Pay<sup>(6)</sup> | 6-Month CZK-PRIBOR | 4.485 | Annual | 12/02/2035 |  | 7200 | 0 | 0 | 0 | 0 | 0 |
| Pay<sup>(6)</sup> | 6-Month CZK-PRIBOR | 4.530 | Annual | 12/31/2035 |  | 3800 | 0 | 0 | 0 | 0 | 0 |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | 6-Month EUR-EURIBOR | 2.400 | Annual | 04/09/2030 | 1300 |  | (3) |  | (9) |  | (12) |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.350 | Annual | 04/29/2030 | 2500 |  | (5) |  | (11) |  | (16) |  | 2 |  | 0 |
| Pay<sup>(6)</sup> | Pay<sup>(6)</sup> | 6-Month EUR-EURIBOR | 2.500 | Annual | 03/18/2031 | 6200 |  | 27 |  | (65) |  | (38) |  | 0 |  | (5) |
| Receive | Receive | 6-Month EUR-EURIBOR | 3.280 | Annual | 11/22/2033 | 600 |  | (3) |  | (22) |  | (25) |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 3.305 | Annual | 11/27/2033 | 600 |  | (3) |  | (23) |  | (26) |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 3.128 | Annual | 12/04/2033 | 900 |  | (4) |  | (22) |  | (26) |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 3.063 | Annual | 12/06/2033 | 900 |  | (3) |  | (18) |  | (21) |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.910 | Annual | 12/29/2033 | 1000 |  | (3) |  | (6) |  | (9) |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.670 | Annual | 04/03/2034 | 700 |  | (2) |  | (1) |  | (3) |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.710 | Annual | 08/06/2034 | 1000 |  | (3) |  | 12 |  | 9 |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.680 | Annual | 08/07/2034 | 400 |  | (1) |  | 6 |  | 5 |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.590 | Annual | 08/19/2034 | 800 |  | (2) |  | 19 |  | 17 |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.580 | Annual | 08/29/2034 | 1100 |  | (3) |  | 27 |  | 24 |  | 2 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.390 | Annual | 10/01/2034 | 900 |  | (2) |  | 40 |  | 38 |  | 1 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.380 | Annual | 12/31/2034 | 900 |  | (2) |  | (39) |  | (41) |  | 0 |  | (1) |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.220 | Annual | 01/08/2035 | 1100 |  | (3) |  | (49) |  | (52) |  | 0 |  | (2) |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.400 | Annual | 02/12/2035 | 1000 |  | (3) |  | 33 |  | 30 |  | 1 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.420 | Annual | 03/07/2035 | 1300 |  | (3) |  | (34) |  | (37) |  | 0 |  | (2) |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.460 | Annual | 03/13/2035 | 900 |  | (2) |  | (20) |  | (22) |  | 0 |  | (1) |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.610 | Annual | 03/24/2035 | 1000 |  | (3) |  | (6) |  | (9) |  | 0 |  | (1) |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.520 | Annual | 03/27/2035 | 900 |  | (2) |  | (15) |  | (17) |  | 0 |  | (1) |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.460 | Annual | 04/01/2035 | 700 |  | (2) |  | (16) |  | (18) |  | 0 |  | (1) |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.510 | Annual | 04/09/2035 | 900 |  | (3) |  | 21 |  | 18 |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.520 | Annual | 04/09/2035 | 1000 |  | (4) |  | 23 |  | 19 |  | 2 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.550 | Annual | 04/16/2035 | 800 |  | (3) |  | 16 |  | 13 |  | 1 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.450 | Annual | 05/05/2035 | 900 |  | (3) |  | 28 |  | 25 |  | 1 |  | 0 |
| Receive | Receive | 28-Day MXN-TIIE | 7.000 | Lunar | 03/01/2029 | 50470 |  | 0 |  | 37 |  | 37 |  | 0 |  | (2) |
| Receive | Receive | 28-Day MXN-TIIE | 7.011 | Lunar | 03/01/2029 | 191500 |  | 0 |  | 137 |  | 137 |  | 0 |  | (6) |
| Pay | Pay | 28-Day MXN-TIIE | 7.760 | Lunar | 03/01/2029 | 3900 |  | 0 |  | 2 |  | 2 |  | 0 |  | 0 |
| Receive | Receive | 28-Day MXN-TIIE | 9.000 | Lunar | 03/01/2029 | 165200 |  | (339) |  | (73) |  | (412) |  | 0 |  | (6) |
| Receive | Receive | 28-Day MXN-TIIE | 9.430 | Lunar | 10/19/2034 | 42900 |  | 0 |  | (166) |  | (166) |  | 0 |  | (3) |
| Receive | Receive | 28-Day MXN-TIIE | 9.390 | Lunar | 11/03/2034 | 31300 |  | 0 |  | (118) |  | (118) |  | 0 |  | (1) |
| Pay | Pay | 28-Day MXN-TIIE | 8.270 | Lunar | 03/07/2035 | 83800 |  | 77 |  | (33) |  | 44 |  | 7 |  | 0 |
| Receive | Receive | CPURNSA | 2.502 | Maturity | 03/25/2030 | $990 |  | 0 |  | (4) |  | (4) |  | 1 |  | 0 |
| Receive | Receive | CPURNSA | 2.522 | Maturity | 03/27/2030 | 38600 |  | 0 |  | (213) |  | (213) |  | 57 |  | 0 |
| Receive | Receive | CPURNSA | 2.514 | Maturity | 10/29/2030 | 20500 |  | 0 |  | (117) |  | (117) |  | 29 |  | 0 |
| Receive | Receive | CPURNSA | 2.482 | Maturity | 11/30/2033 | 5800 |  | 18 |  | (34) |  | (16) |  | 10 |  | 0 |
| Pay | Pay | CPURNSA | 2.487 | Maturity | 04/03/2035 | 4350 |  | 13 |  | 16 |  | 29 |  | 0 |  | (7) |
| Receive | Receive | CPURNSA | 2.480 | Maturity | 10/29/2035 | 71990 |  | 0 |  | (372) |  | (372) |  | 118 |  | 0 |
| Receive | Receive | CPURNSA | 2.452 | Maturity | 07/20/2052 | 700 |  | 10 |  | (1) |  | 9 |  | 2 |  | 0 |
| Receive | Receive | CPURNSA | 2.423 | Maturity | 10/30/2055 | 1700 |  | 0 |  | 2 |  | 2 |  | 4 |  | 0 |
|  |  |  |  |  |  |  | $694 | 694 | $22240 | 22240 | $22934 | 22934 | $3186 | 3186 | $(1070) | (1070) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**(12832)** | **(12832)** | $**20875** | **20875** | $**8043** | **8043** | $**3187** | **3187** | $**(1079)** | **(1079)** |
| **(k)** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $45,452 and cash of $61,030 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <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. | 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> | 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>(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. |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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|:---|:---|:---|:---|:---|:---|:---|
| <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. |
| <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. |
| <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. |
| **(l)** | **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:** |
|  |  |  |  | <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 | Asset | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | 01/2026  | $2813 | 437189 | $0 | $(19) |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 01/2026  | 46517 | 51 | 0 | (1) |
|  |  | 01/2026  | 2813550 | 738 | 0 | (1) |
|  |  | 01/2026  | 38929 | 430 | 0 | (3) |
|  |  | 01/2026  | 817584 | 562 | 0 | (5) |
|  |  | 01/2026  | 11950 | 1176 | 0 | (10) |
|  |  | 01/2026  | 20649 | 349 | 0 | (1) |
|  |  | 01/2026  | 38583 | 10456 | 0 | (291) |
|  |  | 01/2026  | 40217 | 1242 | 0 | (36) |
|  |  | 01/2026  | 39941 | 1310 | 38 | 0 |
|  |  | 01/2026  | $1620 | 2226 | 3 | 0 |
|  |  | 01/2026  | 51 | 46518 | 1 | 0 |
|  |  | 01/2026  | 1294 | 4889600 | 0 | (14) |
|  |  | 01/2026  | 1367 | 1161 | 0 | (2) |
|  |  | 01/2026  | 1060 | 1549519 | 15 | 0 |
|  |  | 01/2026  | 130 | 7670 | 0 | 0 |
|  |  | 01/2026  | 3135 | 11471 | 60 | 0 |
|  |  | 01/2026  | 239 | 7529 | 1 | 0 |
|  |  | 01/2026  | 939 | 15660 | 5 | 0 |
|  |  | 02/2026  | 619186 | 162 | 2 | 0 |
|  |  | 02/2026  | 3841 | 1205 | 0 | (1) |
|  |  | 03/2026  | 4070967 | 1060 | 10 | 0 |
|  |  | 03/2026  | $51 | 46518 | 1 | 0 |
|  |  | 03/2026  | 1092 | 19854 | 3 | 0 |
|  |  | 03/2026  | 4213 | 14206 | 2 | 0 |
|  |  | 04/2026  | 559 | 10246 | 5 | 0 |
|  |  | 06/2026  | 46124 | 13655 | 16 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 01/2026  | 19493 | 12671 | 0 | (339) |
|  |  | 01/2026  | 434 | 551 | 3 | 0 |
|  |  | 01/2026  | 32192 | 4568 | 0 | (51) |
|  |  | 01/2026  | 2480800 | 149 | 0 | 0 |
|  |  | 01/2026  | 6649 | 2045 | 0 | (43) |
|  |  | 01/2026  | 105480 | 1170 | 0 | (3) |
|  |  | 01/2026  | 381400 | 2468 | 32 | 0 |
|  |  | 01/2026  | 707499 | 480 | 0 | (10) |
|  |  | 01/2026  | 11250 | 6393 | 0 | (87) |
|  |  | 01/2026  | 62883 | 1065 | 0 | (2) |
|  |  | 01/2026  | 9768 | 2676 | 0 | (44) |
|  |  | 01/2026  | 277395 | 9001 | 169 | 0 |
|  |  | 01/2026  | $280 | 254069 | 2 | 0 |
|  |  | 01/2026  | 5027 | 35217 | 23 | 0 |
|  |  | 01/2026  | 2552 | 9683060 | 0 | (17) |
|  |  | 01/2026  | 1030 | 878 | 3 | 0 |
|  |  | 01/2026  | 1772 | 29633083 | 3 | 0 |
|  |  | 01/2026  | 540 | 48784 | 1 | 0 |
|  |  | 01/2026  | 101 | 5924 | 0 | 0 |
|  |  | 01/2026  | 3650 | 13255 | 42 | 0 |
|  |  | 01/2026  | 8866 | 277918 | 15 | (31) |
|  |  | 01/2026  | 2055 | 34268 | 11 | 0 |
|  |  | 01/2026  | 14284 | 854 | 0 | (8) |
|  |  | 02/2026  | 768319 | 200 | 0 | 0 |
|  |  | 02/2026  | $1184 | 106646 | 0 | 0 |
|  |  | 02/2026  | 2941 | 92317 | 0 | (6) |
|  |  | 03/2026  | 10332 | 496 | 0 | (7) |
|  |  | 03/2026  | 4126 | 90 | 0 | (1) |
|  |  | 03/2026  | 117322 | 3777 | 48 | 0 |
|  |  | 04/2026  | 5800 | 1015 | 0 | (21) |
|  |  | 04/2026  | $44846 | 247000 | 0 | (697) |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 01/2026  | 37119 | 5760 | 0 | (83) |
|  |  | 01/2026  | 1515 | 1759 | 0 | (23) |
|  |  | 01/2026  | 6338780 | 380 | 0 | 0 |
|  |  | 01/2026  | 17731 | 300 | 0 | 0 |
|  |  | 01/2026  | $1212 | 1813 | 0 | (2) |
|  |  | 01/2026  | 1798 | 7370 | 20 | 0 |
|  |  | 01/2026  | 506 | 1844 | 7 | 0 |
|  |  | 01/2026  | 1524 | 68375 | 65 | 0 |
|  |  | 01/2026  | 124499 | 7187 | 0 | (320) |
|  |  | 02/2026  | 1634 | 507 | 0 | (6) |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 02/2026  | 8475 | 186 | 0 | (5) |
|  | 02/2026  | $6050 | 274322 | 175 | 0 |
|  | 03/2026  | 2088 | $101 | 0 | (1) |
|  | 03/2026  | $3220 | 59620 | 68 | 0 |
|  | 03/2026  | 7528 | 344038 | 95 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | 01/2026  | 889926 | $5718 | 32 | 0 |
|  | 01/2026  | $6433 | 6042343 | 283 | 0 |
|  | 02/2026  | 772285 | $201 | 1 | 0 |
|  | 02/2026  | 17724 | 5069 | 0 | (196) |
|  | 02/2026  | $950 | 3249 | 15 | 0 |
|  | 03/2026  | 828500 | $903 | 0 | (18) |
|  | 03/2026  | 204 | 58 | 0 | (2) |
|  | 04/2026  | 10900 | 1919 | 2 | (31) |
|  | 04/2026  | 30621 | 8792 | 0 | (286) |
|  | 05/2026  | 21183 | 6009 | 0 | (263) |
|  | 06/2026  | 7374 | 2158 | 0 | (22) |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 1274 | 853 | 3 | 0 |
|  | 01/2026  | 4114 | 750 | 3 | (4) |
|  | 01/2026  | 2661 | 1907 | 0 | (33) |
|  | 01/2026  | 46518 | 51 | 0 | (1) |
|  | 01/2026  | 47816296 | 12318 | 18 | (202) |
|  | 01/2026  | 9028260 | 540 | 0 | (1) |
|  | 01/2026  | 8929 | 99 | 0 | 0 |
|  | 01/2026  | 144344 | 98 | 0 | (2) |
|  | 01/2026  | 4035 | 399 | 0 | (1) |
|  | 01/2026  | 2164 | 1249 | 3 | 0 |
|  | 01/2026  | 928 | 257 | 0 | (1) |
|  | 01/2026  | 3236 | 102 | 0 | (1) |
|  | 01/2026  | 231358 | 7619 | 253 | 0 |
|  | 01/2026  | $4628 | 6962 | 18 | 0 |
|  | 01/2026  | 1476 | 8227 | 25 | 0 |
|  | 01/2026  | 1040 | 953271 | 18 | 0 |
|  | 01/2026  | 3224 | 22504 | 5 | 0 |
|  | 01/2026  | 633 | 2383994 | 0 | (1) |
|  | 01/2026  | 7108 | 6086 | 47 | 0 |
|  | 01/2026  | 599 | 10005370 | 0 | 0 |
|  | 01/2026  | 287 | 917 | 1 | 0 |
|  | 01/2026  | 28835 | 2576447 | 25 | (263) |
|  | 01/2026  | 1460 | 2141415 | 25 | 0 |
|  | 01/2026  | 1619 | 2782 | 0 | (16) |
|  | 01/2026  | 1910 | 6447 | 6 | 0 |
|  | 01/2026  | 347 | 1247 | 0 | 0 |
|  | 01/2026  | 2 | 56 | 0 | 0 |
|  | 01/2026  | 5621 | 175551 | 1 | (33) |
|  | 01/2026  | 300 | 5096 | 8 | 0 |
|  | 01/2026  | 30068 | $1752 | 0 | (61) |
|  | 02/2026  | 4114 | 733 | 0 | (12) |
|  | 02/2026  | 2751426 | 722 | 8 | 0 |
|  | 02/2026  | 3044 | 958 | 2 | 0 |
|  | 02/2026  | 48220 | 14019 | 0 | (306) |
|  | 02/2026  | $7348 | 28589414 | 88 | 0 |
|  | 02/2026  | 74 | 2307 | 0 | 0 |
|  | 03/2026  | 4675359 | $5018 | 0 | (180) |
|  | 03/2026  | 4212602 | 1111 | 18 | 0 |
|  | 03/2026  | 2650 | 128 | 0 | (1) |
|  | 03/2026  | 4321 | 1279 | 0 | (3) |
|  | 03/2026  | 127252 | 4088 | 44 | 0 |
|  | 03/2026  | $6007 | 20347 | 30 | 0 |
|  | 04/2026  | 1992406 | $520 | 8 | 0 |
|  | 07/2026  | 11419 | 3317 | 0 | (55) |
|  | 08/2026  | $1421 | 25306 | 82 | 0 |
|  | 11/2026  | 12951 | $3786 | 0 | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp; CIB | 01/2026  | $550 | 1848 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | 01/2026  | 2734 | $850 | 0 | (9) |
|  | 01/2026  | 1641568 | 1121 | 0 | (17) |
|  | 01/2026  | 38033 | 10620 | 0 | (686) |
|  | 01/2026  | $2502 | 7982 | 4 | 0 |
|  | 01/2026  | 6335 | 564287 | 0 | (72) |
|  | 01/2026  | 3027 | 4447692 | 57 | 0 |
|  | 01/2026  | 848 | 14256 | 12 | 0 |
|  | 01/2026  | 181043 | $10390 | 0 | (526) |
|  | 02/2026  | 7980 | 2502 | 0 | (4) |
|  | 02/2026  | $2395 | 788606 | 9 | 0 |
|  | 02/2026  | 99 | 3114 | 0 | 0 |
|  | 06/2026  | 107665 | $200 | 0 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | 01/2026  | 39730 | 25805 | 0 | (710) |
|  | 01/2026  | 519 | 647 | 0 | (9) |
|  | 01/2026  | 16046 | 2280 | 0 | (23) |
|  | 01/2026  | 26318 | 34561 | 0 | (914) |
|  | 01/2026  | 205723 | 11091 | 0 | (307) |
|  | 01/2026  | 6497 | 3723 | 0 | (19) |
|  | 01/2026  | 14 | 11 | 0 | 0 |
|  | 01/2026  | $1325 | 4247 | 9 | 0 |
|  | 01/2026  | 4523 | 16548 | 86 | 0 |
|  | 01/2026  | 865 | 14517 | 10 | 0 |
|  | 01/2026  | 153846 | $8947 | 0 | (330) |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 02/2026  | 4246 | 1325 | 0 | (9) |
|  | 02/2026  | 30963 | 8842 | 0 | (353) |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | 01/2026  | 27543 | 34355 | 0 | (448) |
|  | 01/2026  | 301083 | 79 | 0 | 0 |
|  | 01/2026  | 7981 | 2470 | 0 | (36) |
|  | 01/2026  | 1616466 | 1098 | 0 | (23) |
|  | 01/2026  | 47 | 36 | 0 | 0 |
|  | 01/2026  | 25010 | 785 | 0 | (9) |
|  | 01/2026  | $4692 | 6445 | 11 | (5) |
|  | 01/2026  | 2406 | 16961 | 28 | 0 |
|  | 01/2026  | 955 | 15942485 | 0 | 0 |
|  | 01/2026  | 250 | 22503 | 0 | 0 |
|  | 01/2026  | 125 | 512 | 2 | 0 |
|  | 01/2026  | 3143 | 11483 | 55 | 0 |
|  | 01/2026  | 1282 | 1655 | 7 | 0 |
|  | 01/2026  | 114400 | $6636 | 0 | (263) |
|  | 02/2026  | 990853 | 259 | 1 | 0 |
|  | 02/2026  | $28066 | 154491 | 0 | (86) |
|  | 02/2026  | 1123 | 20831 | 28 | 0 |
|  | 02/2026  | 303 | 13831 | 8 | 0 |
|  | 03/2026  | 386664 | $100 | 0 | 0 |
|  | 03/2026  | 2721 | 804 | 0 | (3) |
|  | 03/2026  | $816 | 4491 | 0 | (7) |
|  | 03/2026  | 1315 | 24399 | 32 | 0 |
|  | 04/2026  | 54000 | $9312 | 11 | (351) |
|  | 04/2026  | $3460 | 63676 | 41 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | 01/2026  | 66799 | $9485 | 0 | (100) |
|  | 01/2026  | 50561 | 6506 | 5 | 0 |
|  | 01/2026  | 28812 | 8848 | 0 | (199) |
|  | 01/2026  | 236916 | 2661 | 32 | 0 |
|  | 01/2026  | 11060795 | 7703 | 36 | (4) |
|  | 01/2026  | 928 | 538 | 4 | 0 |
|  | 01/2026  | 12226 | 3338 | 0 | (68) |
|  | 01/2026  | $1986 | 2728 | 3 | 0 |
|  | 01/2026  | 2894 | 20329 | 23 | 0 |
|  | 01/2026  | 271 | 866 | 1 | 0 |
|  | 01/2026  | 2476 | 220464 | 0 | (29) |
|  | 01/2026  | 1826 | 2675888 | 30 | 0 |
|  | 01/2026  | 38 | 710 | 1 | 0 |
|  | 01/2026  | 3471 | 12788 | 90 | 0 |
|  | 01/2026  | 6103 | 189015 | 0 | (85) |
|  | 01/2026  | 41932 | $2444 | 0 | (85) |
|  | 02/2026  | 384660 | 100 | 0 | 0 |
|  | 02/2026  | $7496 | 10741568 | 0 | (47) |
|  | 02/2026  | 3026 | 56105 | 75 | 0 |
|  | 03/2026  | 387165 | $100 | 0 | 0 |
|  | 03/2026  | 15 | 1 | 0 | 0 |
|  | 03/2026  | $2806 | 51541 | 38 | 0 |
|  | 04/2026  | 176300 | $29863 | 0 | (1649) |
|  | 04/2026  | $1062 | 19572 | 14 | 0 |
|  | 06/2026  | 13600 | $767 | 0 | (44) |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 33814 | 24026 | 0 | (624) |
|  | 01/2026  | 3559 | 4455 | 0 | (42) |
|  | 01/2026  | 1668 | 2241 | 0 | (8) |
|  | 01/2026  | 24 | 3 | 0 | 0 |
|  | 01/2026  | 5023234 | 32327 | 235 | 0 |
|  | 01/2026  | 75898 | 52 | 0 | (1) |
|  | 01/2026  | 3830 | 379 | 0 | (1) |
|  | 01/2026  | 2160 | 1248 | 4 | 0 |
|  | 01/2026  | 95887 | 10065 | 0 | (355) |
|  | 01/2026  | 45874 | 35355 | 0 | (356) |
|  | 01/2026  | 1595 | 49 | 0 | (1) |
|  | 01/2026  | $2944 | 4071 | 24 | 0 |
|  | 01/2026  | 2487 | 1986 | 22 | 0 |
|  | 01/2026  | 2119 | 1818 | 18 | 0 |
|  | 01/2026  | 370 | 33530 | 2 | 0 |
|  | 01/2026  | 927 | 3400 | 20 | 0 |
|  | 01/2026  | 1088 | 10140 | 14 | 0 |
|  | 01/2026  | 368 | 11612 | 2 | 0 |
|  | 01/2026  | 429 | 7223 | 6 | 0 |
|  | 02/2026  | 516 | 9559 | 12 | 0 |
|  | 03/2026  | 855 | 15729 | 14 | 0 |
|  | 04/2026  | 853 | 15747 | 13 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | 01/2026  | 5 | $2 | 0 | 0 |
|  | 01/2026  | 22973 | 1269 | 0 | (4) |
|  | 01/2026  | $1650 | 2295 | 22 | 0 |
|  | 01/2026  | 1266 | 951 | 16 | 0 |
|  | 01/2026  | 884 | 80101 | 5 | 0 |
|  | 01/2026  | 16 | 2416 | 0 | 0 |
|  | 01/2026  | 1516 | 2216698 | 21 | 0 |
|  | 01/2026  | 251 | 1033 | 4 | 0 |
|  | 01/2026  | 610 | 35783 | 0 | (3) |
|  | 02/2026  | 6021 | $1870 | 0 | (21) |
|  | 04/2026  | $469 | 8545 | 1 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; NGF | 01/2026  | 2690979 | $1839 | 0 | (27) |
|  | 01/2026  | $2032 | 2983375 | 37 | 0 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | 03/2026  | 03/2026  | 105 | 105 | 105 | TRY | 4792 | 4792 | 4792 | 4792 |  | 1 | 1 | 1 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC | &nbsp;&nbsp;&nbsp;&nbsp; RBC | 01/2026  | 01/2026  | 1231 | 1231 | 1231 | KRW | 1806809 | 1806809 | 1806809 | 1806809 |  | 22 | 22 | 22 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 01/2026  | 01/2026  | 788 | 788 | 788 | $ | 984 | 984 | 984 | 984 |  | 0 | 0 | 0 |  | (12) |
|  |  | 01/2026  | 01/2026  | 31995 | 31995 | 31995 |  | 4541 | 4541 | 4541 | 4541 |  | 0 | 0 | 0 |  | (50) |
|  |  | 01/2026  | 01/2026  | 1184 | 1184 | 1184 |  | 1377 | 1377 | 1377 | 1377 |  | 0 | 0 | 0 |  | (15) |
|  |  | 01/2026  | 01/2026  | 112823 | 112823 | 112823 |  | 1266 | 1266 | 1266 | 1266 |  | 15 | 15 | 15 |  | (2) |
|  |  | 01/2026  | 01/2026  | 690336 | 690336 | 690336 |  | 4439 | 4439 | 4439 | 4439 |  | 29 | 29 | 29 |  | 0 |
|  |  | 01/2026  | 01/2026  | 43302 | 43302 | 43302 |  | 1421 | 1421 | 1421 | 1421 |  | 43 | 43 | 43 |  | 0 |
|  |  | 01/2026  | 01/2026  | $2016 | 2016 | 2016 | HKD | 15677 | 15677 | 15677 | 15677 |  | 0 | 0 | 0 |  | (1) |
|  |  | 01/2026  | 01/2026  | 2452 | 2452 | 2452 | IDR | 41004919 | 41004919 | 41004919 | 41004919 |  | 3 | 3 | 3 |  | 0 |
|  |  | 01/2026  | 01/2026  | 1201 | 1201 | 1201 | INR | 108131 | 108131 | 108131 | 108131 |  | 1 | 1 | 1 |  | (1) |
|  |  | 01/2026  | 01/2026  | 2613 | 2613 | 2613 | JPY | 408100 | 408100 | 408100 | 408100 |  | 0 | 0 | 0 |  | (5) |
|  |  | 11/2026  | 11/2026  | 161750 | 161750 | 161750 | $ | 100 | 100 | 100 | 100 |  | 0 | 0 | 0 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | 01/2026  | 01/2026  | 147212 | 147212 | 147212 |  | 170437 | 170437 | 170437 | 170437 |  | 0 | 0 | 0 |  | (2641) |
|  |  | 01/2026  | 01/2026  | 2582440 | 2582440 | 2582440 |  | 16512 | 16512 | 16512 | 16512 |  | 13 | 13 | 13 |  | 0 |
|  |  | 01/2026  | 01/2026  | $900 | 900 | 900 | TWD | 28199 | 28199 | 28199 | 28199 |  | 0 | 0 | 0 |  | (2) |
|  |  | 02/2026  | 02/2026  | 517 | 517 | 517 | MXN | 9564 | 9564 | 9564 | 9564 |  | 12 | 12 | 12 |  | 0 |
|  |  | 03/2026  | 03/2026  | 5579406 | 5579406 | 5579406 | $ | 5757 | 5757 | 5757 | 5757 |  | 0 | 0 | 0 |  | (446) |
|  |  | 03/2026  | 03/2026  | 271087 | 271087 | 271087 |  | 14466 | 14466 | 14466 | 14466 |  | 0 | 0 | 0 |  | (482) |
|  |  | 03/2026  | 03/2026  | $13301 | 13301 | 13301 | MXN | 249183 | 249183 | 249183 | 249183 |  | 439 | 439 | 439 |  | 0 |
|  |  | 03/2026  | 03/2026  | 3 | 3 | 3 | PEN | 10 | 10 | 10 | 10 |  | 0 | 0 | 0 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | 01/2026  | 01/2026  | 82 | 82 | 82 | $ | 102 | 102 | 102 | 102 |  | 0 | 0 | 0 |  | (2) |
|  |  | 01/2026  | 01/2026  | 29201289 | 29201289 | 29201289 |  | 7429 | 7429 | 7429 | 7429 |  | 0 | 0 | 0 |  | (233) |
|  |  | 01/2026  | 01/2026  | $3320 | 3320 | 3320 | PLN | 12044 | 12044 | 12044 | 12044 |  | 35 | 35 | 35 |  | 0 |
|  |  | 01/2026  | 01/2026  | 177344 | 177344 | 177344 | $ | 10197 | 10197 | 10197 | 10197 |  | 0 | 0 | 0 |  | (497) |
|  |  | 02/2026  | 02/2026  | $739 | 739 | 739 | MXN | 13711 | 13711 | 13711 | 13711 |  | 19 | 19 | 19 |  | 0 |
|  |  | 03/2026  | 03/2026  | 5035406 | 5035406 | 5035406 | $ | 5412 | 5412 | 5412 | 5412 |  | 0 | 0 | 0 |  | (186) |
|  |  | 03/2026  | 03/2026  | 43020612 | 43020612 | 43020612 |  | 10952 | 10952 | 10952 | 10952 |  | 0 | 0 | 0 |  | (196) |
| **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** | **Total Forward Foreign Currency Contracts** | $**3903** | **3903** | **3903** | **$** | $**(17948)** | **(17948)** |
| **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** |
| **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** |
| Counterparty | Description | Description | Description | Description | Buy/Sell<br>Protection | Exercise<br>Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Cost | Cost |  | Market<br>Value |
| GST | Put - OTC CDX.IG-45 5-Year Index  | Put - OTC CDX.IG-45 5-Year Index  | Put - OTC CDX.IG-45 5-Year Index  | Put - OTC CDX.IG-45 5-Year Index  | Buy | 0.650% | 0.650% | 0.650% | 05/20/2026 | 05/20/2026 | 307400 | 307400 | 307400 | $605 | 605 | $ | $457 |
| **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** |
| Counterparty | Description | Description | Description | Description | Description |  | Strike<br>Price | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Cost | Cost |  | Market<br>Value |
| BOA | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | HKD | 7.800 | 7.800 | 7.800 | 08/14/2026 | 41500 | 41500 | 41500 | $62 | 62 | $ | $23 |
|  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  | 7.800 | 7.800 | 7.800 | 08/24/2026 | 59300 | 59300 | 59300 | 82 | 82 |  | 33 |
|  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | 1419.000 | 1419.000 | 1419.000 | 02/12/2026 | 4610 | 4610 | 4610 | 29 | 29 |  | 27 |
|  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | ZAR | 18.000 | 18.000 | 18.000 | 08/19/2026 | 11560 | 11560 | 11560 | 507 | 507 |  | 933 |
| BRC | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | 1423.000 | 1423.000 | 1423.000 | 02/12/2026 | 1500 | 1500 | 1500 | 9 | 9 |  | 10 |
| GLM | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | BRL | 5.390 | 5.390 | 5.390 | 02/04/2026 | 6850 | 6850 | 6850 | 102 | 102 |  | 37 |
|  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | HKD | 7.800 | 7.800 | 7.800 | 08/14/2026 | 10100 | 10100 | 10100 | 13 | 13 |  | 6 |
| MBC | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  | 7.800 | 7.800 | 7.800 | 08/14/2026 | 20400 | 20400 | 20400 | 27 | 27 |  | 11 |
|  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  | 7.800 | 7.800 | 7.800 | 08/24/2026 | 22200 | 22200 | 22200 | 33 | 33 |  | 12 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $864 | 864 | $ | $1092 |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Description | Description | Floating Rate<br>Index | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Cost | Cost |  | Market<br>Value |
| BOA | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | 4.093% | 4.093% | 4.093% | 01/04/2027 | 01/04/2027 | 232900 | 232900 | 232900 | $165 | 165 | $ | $103 |
|  | Call - OTC 5-Year Interest Rate Swap  | Call - OTC 5-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.230 | 3.230 | 3.230 | 03/30/2026 | 03/30/2026 | 24000 | 24000 | 24000 | 184 | 184 |  | 68 |
|  | Call - OTC 7-Year Interest Rate Swap  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.317 | 3.317 | 3.317 | 03/02/2026 | 03/02/2026 | 25300 | 25300 | 25300 | 150 | 150 |  | 42 |
|  | Call - OTC 7-Year Interest Rate Swap  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.194 | 3.194 | 3.194 | 03/04/2026 | 03/04/2026 | 6500 | 6500 | 6500 | 21 | 21 |  | 6 |
|  | Put - OTC 7-Year Interest Rate Swap  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | 3.758 | 3.758 | 3.758 | 03/30/2026 | 03/30/2026 | 12000 | 12000 | 12000 | 95 | 95 |  | 57 |
|  | Call - OTC 7-Year Interest Rate Swap  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.146 | 3.146 | 3.146 | 04/15/2026 | 04/15/2026 | 14700 | 14700 | 14700 | 118 | 118 |  | 28 |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 2.972 | 2.972 | 2.972 | 08/04/2026 | 08/04/2026 | 2500 | 2500 | 2500 | 22 | 22 |  | 5 |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.222 | 3.222 | 3.222 | 08/04/2026 | 08/04/2026 | 1300 | 1300 | 1300 | 17 | 17 |  | 5 |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 2.965 | 2.965 | 2.965 | 08/05/2026 | 08/05/2026 | 2600 | 2600 | 2600 | 22 | 22 |  | 5 |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.215 | 3.215 | 3.215 | 08/05/2026 | 08/05/2026 | 1300 | 1300 | 1300 | 17 | 17 |  | 5 |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.067 | 3.067 | 3.067 | 08/12/2026 | 08/12/2026 | 2800 | 2800 | 2800 | 21 | 21 |  | 8 |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.317 | 3.317 | 3.317 | 08/12/2026 | 08/12/2026 | 1400 | 1400 | 1400 | 17 | 17 |  | 7 |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.075 | 08/14/2026 | 2800 | 22 | 8 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.325 | 08/14/2026 | 1400 | 17 | 8 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.427 | 08/06/2035 | 7200 | 634 | 506 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.427 | 08/06/2035 | 7200 | 634 | 628 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.656 | 08/20/2035 | 7200 | 623 | 553 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.656 | 08/20/2035 | 7200 | 623 | 584 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.693 | 08/27/2035 | 10900 | 939 | 849 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.693 | 08/27/2035 | 10900 | 939 | 874 |
| BRC | Call - OTC 30-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.110 | 08/23/2027 | 21000 | 1695 | 1197 |
|  | Put - OTC 30-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.110 | 08/23/2027 | 27400 | 2211 | 2080 |
| DUB | Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.163 | 08/23/2027 | 1576700 | 7919 | 5520 |
|  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.163 | 08/23/2027 | 1576700 | 7919 | 7728 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.189 | 01/02/2026 | 19400 | 83 | 0 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.442 | 03/24/2026 | 27900 | 137 | 121 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.174 | 04/27/2026 | 23200 | 172 | 56 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.628 | 08/20/2035 | 30700 | 2659 | 2333 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.628 | 08/21/2035 | 24300 | 2101 | 1846 |
| FAR | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.751 | 10/14/2026 | 199900 | 178 | 125 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.407 | 03/18/2026 | 35400 | 177 | 123 |
| GLM | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.485 | 07/31/2035 | 37700 | 3319 | 2714 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.485 | 07/31/2035 | 37700 | 3319 | 3229 |
|  | Call - OTC 30-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.110 | 08/23/2027 | 61000 | 4923 | 3477 |
|  | Put - OTC 30-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.110 | 08/23/2027 | 79800 | 6440 | 6058 |
| JPM | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.260 | 04/28/2026 | 26800 | 255 | 88 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 02/18/2026 | 68300 | 142 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.989 | 08/06/2026 | 3500 | 29 | 7 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.239 | 08/06/2026 | 1800 | 23 | 8 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.995 | 08/07/2026 | 2600 | 21 | 6 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.245 | 08/07/2026 | 1300 | 17 | 6 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.038 | 08/11/2026 | 2800 | 23 | 7 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.288 | 08/11/2026 | 1400 | 17 | 7 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.485 | 07/31/2035 | 11100 | 978 | 799 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.485 | 07/31/2035 | 11100 | 978 | 951 |
| MYC | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.857 | 10/07/2026 | 248900 | 193 | 112 |
|  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.141 | 12/30/2026 | 256200 | 191 | 100 |
|  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.082 | 01/04/2027 | 249600 | 187 | 113 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.421 | 03/30/2026 | 27200 | 140 | 115 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.174 | 04/27/2026 | 2600 | 18 | 6 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.255 | 08/03/2026 | 32600 | 425 | 139 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.505 | 08/03/2026 | 29000 | 576 | 240 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.255 | 08/03/2026 | 29000 | 427 | 207 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.048 | 08/10/2026 | 2800 | 22 | 7 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.298 | 08/10/2026 | 1400 | 17 | 7 |

---

------

<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.485 | 4.485 | 4.485 | 08/07/2035 | 08/07/2035 | 7400 | 652 | 533 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.485 | 4.485 | 4.485 | 08/07/2035 | 08/07/2035 | 7400 | 652 | 634 |
|  |  |  |  |  |  |  |  |  |  |  |  | $54515 | $45048 |
| **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** |
| Counterparty | Description | Description |  | Strike<br>Price | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Expiration<br>Date | Expiration<br>Date |  | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 02/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 02/01/2056  | $ | $97.375 | 97.375 | 97.375 | 02/05/2026 | 02/05/2026 | 02/05/2026 |  | $15200 | $19 | $3 |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  |  | 98.906 | 98.906 | 98.906 | 02/05/2026 | 02/05/2026 | 02/05/2026 |  | 57400 | 38 | 1 |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  |  | 98.922 | 98.922 | 98.922 | 02/05/2026 | 02/05/2026 | 02/05/2026 |  | 55600 | 37 | 1 |
|  |  |  |  |  |  |  |  |  |  |  |  | $94 | $5 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | $**56078** | $**46602** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** |
| Counterparty | Description | Description | Buy/Sell<br>Protection | Buy/Sell<br>Protection | Buy/Sell<br>Protection | Exercise<br>Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| GST | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.525% | 0.525% | 0.525% | 01/21/2026 | 01/21/2026 | 44600 | $(54) | $(56) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.550 | 0.550 | 0.550 | 01/21/2026 | 01/21/2026 | 131690 | (242) | (293) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.575 | 0.575 | 0.575 | 01/21/2026 | 01/21/2026 | 22300 | (51) | (73) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.525 | 0.525 | 0.525 | 02/18/2026 | 02/18/2026 | 121900 | (180) | (182) |
|  | Put - OTC CDX.IG-45 5-Year Index  | Put - OTC CDX.IG-45 5-Year Index  | Sell | Sell | Sell | 0.525 | 0.525 | 0.525 | 02/18/2026 | 02/18/2026 | 27800 | (43) | (29) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.500 | 0.500 | 0.500 | 05/20/2026 | 05/20/2026 | 69300 | (90) | (87) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.525 | 0.525 | 0.525 | 05/20/2026 | 05/20/2026 | 277300 | (517) | (517) |
| RBC | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.525 | 0.525 | 0.525 | 02/18/2026 | 02/18/2026 | 4700 | (7) | (7) |
|  |  |  |  |  |  |  |  |  |  |  |  | $(1184) | $(1244) |
| **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** |
| Counterparty | Description | Description | Description | Description |  |  |  | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | HKD | HKD | HKD | 7.850 | 7.850 | 08/14/2026 | 41500 | $(23) | $(14) |
|  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  |  |  | 7.850 | 7.850 | 08/24/2026 | 59300 | (27) | (20) |
|  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | KRW | KRW | 1383.000 | 1383.000 | 02/12/2026 | 4610 | (10) | (8) |
|  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | ZAR | ZAR | ZAR | 17.000 | 17.000 | 08/19/2026 | 23130 | (490) | (874) |
| BRC | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | KRW | KRW | 1385.000 | 1385.000 | 02/12/2026 | 1500 | (3) | (3) |
| GLM | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | BRL | BRL | BRL | 5.160 | 5.160 | 02/04/2026 | 6850 | (19) | (2) |
|  | Call - OTC USD versus BRL  | Call - OTC USD versus BRL  | Call - OTC USD versus BRL  | Call - OTC USD versus BRL  |  |  |  | 5.680 | 5.680 | 02/04/2026 | 6850 | (84) | (53) |
|  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | HKD | HKD | HKD | 7.850 | 7.850 | 08/14/2026 | 10100 | (4) | (3) |
| MBC | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  |  |  | 7.850 | 7.850 | 08/14/2026 | 20400 | (9) | (7) |
|  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  |  |  | 7.850 | 7.850 | 08/24/2026 | 22200 | (11) | (7) |
|  |  |  |  |  |  |  |  |  |  |  |  | $(680) | $(991) |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Description | Floating Rate<br>Index | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.617% | 3.617% | 3.617% | 03/02/2026 | 03/02/2026 | 27700 | $(149) | $(178) |
|  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.646 | 3.646 | 3.646 | 04/15/2026 | 04/15/2026 | 17700 | (136) | (152) |
| BPS | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.625 | 3.625 | 3.625 | 01/08/2026 | 01/08/2026 | 300 | (1) | 0 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.925 | 3.925 | 3.925 | 01/08/2026 | 01/08/2026 | 300 | (1) | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.622 | 3.622 | 3.622 | 01/29/2026 | 01/29/2026 | 2500 | (5) | (3) |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.882 | 3.882 | 3.882 | 01/29/2026 | 01/29/2026 | 2500 | (5) | (7) |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.066 | 4.066 | 4.066 | 02/05/2026 | 02/05/2026 | 10400 | (17) | (9) |
| DUB | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.689 | 3.689 | 3.689 | 01/02/2026 | 01/02/2026 | 21700 | (83) | 0 |
|  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.742 | 3.742 | 3.742 | 03/24/2026 | 03/24/2026 | 29400 | (137) | (140) |
|  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.674 | 3.674 | 3.674 | 04/27/2026 | 04/27/2026 | 24500 | (172) | (208) |
| FAR | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.707 | 3.707 | 3.707 | 03/18/2026 | 03/18/2026 | 36800 | (177) | (191) |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.580 | 3.580 | 3.580 | 01/05/2026 | 01/05/2026 | 3400 | (8) | 0 |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.860 | 3.860 | 3.860 | 3.860 | 01/05/2026 | 01/05/2026 |  | 3400 |  | (8) | (8) | (8) | (1) | (1) | (1) |
| GLM | GLM | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.578 | 3.578 | 3.578 | 3.578 | 01/12/2026 | 01/12/2026 |  | 1900 |  | (4) | (4) | (4) | 0 | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.878 | 3.878 | 3.878 | 3.878 | 01/12/2026 | 01/12/2026 |  | 1900 |  | (4) | (4) | (4) | (2) | (2) | (2) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.648 | 3.648 | 3.648 | 3.648 | 01/15/2026 | 01/15/2026 |  | 2100 |  | (6) | (6) | (6) | (1) | (1) | (1) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.928 | 3.928 | 3.928 | 3.928 | 01/15/2026 | 01/15/2026 |  | 2100 |  | (6) | (6) | (6) | (2) | (2) | (2) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 4.180 | 4.180 | 4.180 | 4.180 | 02/05/2026 | 02/05/2026 |  | 30000 |  | (27) | (27) | (27) | (9) | (9) | (9) |
| JPM | JPM | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.560 | 3.560 | 3.560 | 3.560 | 04/28/2026 | 04/28/2026 |  | 27300 |  | (255) | (255) | (255) | (331) | (331) | (331) |
| MYC | MYC | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.721 | 3.721 | 3.721 | 3.721 | 03/30/2026 | 03/30/2026 |  | 29200 |  | (140) | (140) | (140) | (163) | (163) | (163) |
|  |  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.674 | 3.674 | 3.674 | 3.674 | 04/27/2026 | 04/27/2026 |  | 2800 |  | (19) | (19) | (19) | (24) | (24) | (24) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.625 | 3.625 | 3.625 | 3.625 | 01/08/2026 | 01/08/2026 |  | 2600 |  | (7) | (7) | (7) | 0 | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.925 | 3.925 | 3.925 | 3.925 | 01/08/2026 | 01/08/2026 |  | 2600 |  | (7) | (7) | (7) | (1) | (1) | (1) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.639 | 3.639 | 3.639 | 3.639 | 01/12/2026 | 01/12/2026 |  | 2300 |  | (5) | (5) | (5) | (1) | (1) | (1) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.919 | 3.919 | 3.919 | 3.919 | 01/12/2026 | 01/12/2026 |  | 2300 |  | (5) | (5) | (5) | (1) | (1) | (1) |
| NGF | NGF | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.639 | 3.639 | 3.639 | 3.639 | 01/12/2026 | 01/12/2026 |  | 2500 |  | (6) | (6) | (6) | (1) | (1) | (1) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.919 | 3.919 | 3.919 | 3.919 | 01/12/2026 | 01/12/2026 |  | 2500 |  | (6) | (6) | (6) | (1) | (1) | (1) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 4.186 | 4.186 | 4.186 | 4.186 | 02/05/2026 | 02/05/2026 |  | 31000 |  | (27) | (27) | (27) | (9) | (9) | (9) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1423) | (1423) | (1423) | $(1435) | (1435) | (1435) |
| **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** |
| Counterparty | Counterparty | Description | Description | Description | Description | Description |  |  | Strike<br>Price | Strike<br>Price | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Expiration<br>Date |  |  | Notional<br>Amount<sup>(1)</sup> |  | Premiums<br>(Received) | Premiums<br>(Received) | Premiums<br>(Received) | Market<br>Value | Market<br>Value | Market<br>Value |
| GSC | GSC | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | $ | $ | $97.375 | 97.375 | 97.375 | 97.375 | 01/07/2026 | 01/07/2026 |  | $ | 8200 | $ | (23) | (23) | (23) | $0 | 0 | 0 |
|  |  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  |  |  | 102.133 | 102.133 | 102.133 | 102.133 | 03/05/2026 | 03/05/2026 |  |  | 21700 |  | (58) | (58) | (58) | (16) | (16) | (16) |
|  |  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  |  |  | 102.141 | 102.141 | 102.141 | 102.141 | 03/05/2026 | 03/05/2026 |  |  | 32500 |  | (82) | (82) | (82) | (25) | (25) | (25) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (163) | (163) | (163) | $(41) | (41) | (41) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **(3450)** | **(3450)** | **(3450)** | $**(3711)** | **(3711)** | **(3711)** |
| **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 AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> |
| Counterparty | Reference Entity | Reference Entity | Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| BRC | Saudi Arabia Government International Bonds  | Saudi Arabia Government International Bonds  | Saudi Arabia Government International Bonds  | 1.000% | Quarterly | Quarterly | Quarterly | 12/20/2035 | 12/20/2035 | 12/20/2035 | 1.056% | 1.056% | 1.056% | 1.056% | $2800 | 2800 | $(2) | (2) | $(10) | (10) | $0 | 0 | 0 | $(12) |
| DUB | Petroleos Mexicanos « | Petroleos Mexicanos « | Petroleos Mexicanos « | 4.750 | Monthly | Monthly | Monthly | 07/06/2026 | 07/06/2026 | 07/06/2026 |  |  |  |  | 1071 | 1071 | 0 | 0 | 9 | 9 | 9 | 9 | 9 | 0 |
|  | Petroleos Mexicanos « | Petroleos Mexicanos « | Petroleos Mexicanos « | 4.850 | Monthly | Monthly | Monthly | 07/06/2026 | 07/06/2026 | 07/06/2026 |  |  |  |  | 453 | 453 | 0 | 0 | 4 | 4 | 4 | 4 | 4 | 0 |
| GST | Soft Bank Group,Inc.  | Soft Bank Group,Inc.  | Soft Bank Group,Inc.  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 06/20/2026 | 1.706 | 1.706 | 1.706 | 1.706 | 500 | 500 | (4) | (4) | 3 | 3 | 0 | 0 | 0 | (1) |
| JPM | Saudi Arabia Government International Bonds  | Saudi Arabia Government International Bonds  | Saudi Arabia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2035 | 06/20/2035 | 06/20/2035 | 1.033 | 1.033 | 1.033 | 1.033 | 6600 | 6600 | 43 | 43 | (58) | (58) | 0 | 0 | 0 | (15) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $37 | 37 | $(52) | (52) | $13 | 13 | 13 | $(28) |
| **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>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> |
| Counterparty | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) |  | Asset | Asset |  | Liability |
| BOA | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000% | 5.000% | 5.000% | Quarterly | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 | 6790 | 6790 | 1525 | 1525 | 75 | $ | 1600 | 1600 | $ | 0 |
| BPS | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000 | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 | 14210 | 14210 | 3276 | 3276 | 73 |  | 3349 | 3349 |  | 0 |
| CBK | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000 | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 | 10153 | 10153 | 2309 | 2309 | 84 |  | 2393 | 2393 |  | 0 |
| JPM | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000 | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 | 22330 | 22330 | 5164 | 5164 | 99 |  | 5263 | 5263 |  | 0 |
| MYC | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000 | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 | 3570 | 3570 | 830 | 830 | 12 |  | 842 | 842 |  | 0 |
| SAL | CMBX.NA.AAA.16 Index  | CMBX.NA.AAA.16 Index  | CMBX.NA.AAA.16 Index  | CMBX.NA.AAA.16 Index  | CMBX.NA.AAA.16 Index  | 0.500 | 0.500 | 0.500 | Monthly | Monthly | Monthly | 04/17/2065 | 04/17/2065 | 04/17/2065 | 7098 | 7098 | (109) | (109) | 76 |  | 0 | 0 |  | (33) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $12995 | 12995 | $419 | 419 | $13447 | 13447 | 13447 | $(33) |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 | Pay/Receive<sup>(6)</sup> | Pay/Receive<sup>(6)</sup> | 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) | Asset | Liability |
| &nbsp;&nbsp; BOA | Receive | RU20INTR Index  | RU20INTR Index  | 3684 | &nbsp;&nbsp; 4.140% (SOFR less a specified spread) | Monthly | 12/09/2026 | $50119 | $0 | $(171) | $0 | $(171) |
| &nbsp;&nbsp; BPS | Receive | RADMFENT Index  | RADMFENT Index  | 5602 | &nbsp;&nbsp; 4.320% (FEDL01 plus a specified spread) | Monthly | 02/04/2026 | 11760 | 0 | (43) | 0 | (43) |
|  | Receive | RADMFENT Index  | RADMFENT Index  | 16192 | &nbsp;&nbsp; 4.370% (SOFR plus a specified spread) | Monthly | 03/04/2026 | 33992 | 0 | (127) | 0 | (127) |
|  | Receive | RADMFENT Index  | RADMFENT Index  | 19773 | &nbsp;&nbsp; 4.290% (SOFR plus a specified spread) | Monthly | 04/15/2026 | 41509 | 0 | (152) | 0 | (152) |
|  | Receive | RADMFENT Index  | RADMFENT Index  | 14573 | &nbsp;&nbsp; 4.220% (SOFR plus a specified spread) | Monthly | 05/20/2026 | 30593 | 0 | (110) | 0 | (110) |
| &nbsp;&nbsp; BRC | Receive | NDDUEAFE Index  | NDDUEAFE Index  | 7426 | &nbsp;&nbsp; 3.970% (SOFR plus a specified spread) | Monthly | 08/19/2026 | 78751 | 0 | (266) | 0 | (266) |
| &nbsp;&nbsp; CBK | Receive | NDDUEAFE Index  | NDDUEAFE Index  | 232 | &nbsp;&nbsp; 4.020% (SOFR plus a specified spread) | Monthly | 10/07/2026 | 2460 | 0 | (8) | 0 | (8) |
| &nbsp;&nbsp; CIB | Receive | RU20INTR Index  | RU20INTR Index  | 3956 | &nbsp;&nbsp; 4.020% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 53820 | 0 | (197) | 0 | (197) |
| &nbsp;&nbsp; GST | Receive | RU20INTR Index  | RU20INTR Index  | 956 | &nbsp;&nbsp; 4.020% (SOFR plus a specified spread) | Monthly | 01/07/2026 | 13128 | 0 | (48) | 0 | (48) |
|  | Receive | NDDUEAFE Index  | NDDUEAFE Index  | 105 | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | Monthly | 06/10/2026 | 1113 | 0 | (4) | 0 | (4) |
| &nbsp;&nbsp; JPM | Receive | RADMFXNT Index  | RADMFXNT Index  | 23270 | &nbsp;&nbsp; 3.990% (SOFR plus a specified spread) | Monthly | 05/20/2026 | 55581 | 0 | (190) | 0 | (190) |
|  | Receive | RADMFENT Index  | RADMFENT Index  | 58970 | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | Monthly | 06/03/2026 | 140850 | 0 | (482) | 0 | (482) |
|  | Receive | RADMFENT Index  | RADMFENT Index  | 59236 | &nbsp;&nbsp; 4.380% (SOFR plus a specified spread) | Monthly | 06/03/2026 | 124354 | 0 | (464) | 0 | (464) |
|  | Receive | NDDUEAFE Index  | NDDUEAFE Index  | 13553 | &nbsp;&nbsp; 3.975% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 143727 | 0 | (487) | 0 | (487) |
|  | Receive | RADMFENT Index  | RADMFENT Index  | 10191 | &nbsp;&nbsp; 3.680% (SOFR less a specified spread) | Monthly | 07/08/2026 | 28120 | 0 | (94) | 0 | (94) |
|  | Receive | RADMFENT Index  | RADMFENT Index  | 13760 | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 32866 | 0 | (113) | 0 | (113) |
|  | Receive | RADMFENT Index  | RADMFENT Index  | 79112 | &nbsp;&nbsp; 4.340% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 166079 | 0 | (603) | 0 | (603) |
|  | Receive | RADMFENT Index  | RADMFENT Index  | 4994 | &nbsp;&nbsp; 3.710% (SOFR plus a specified spread) | Monthly | 07/15/2026 | 13780 | 0 | (46) | 0 | (46) |
|  | Receive | ERAUSLT Index  | ERAUSLT Index  | 35220 | &nbsp;&nbsp; 4.30% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 24714 | 0 | (96) | 0 | (96) |
|  | Receive | ERADXULN Index  | ERADXULN Index  | 828 | &nbsp;&nbsp; 4.090% (SOFR plus a specified spread) | Monthly | 09/23/2026 | 2108 | 0 | (7) | 0 | (7) |
|  | Receive | ERAUSLT Index  | ERAUSLT Index  | 14992 | &nbsp;&nbsp; 4.230% (SOFR less a specified spread) | Monthly | 12/09/2026 | 123700 | 0 | (430) | 0 | (430) |
|  | Receive | ERAUSLT Index  | ERAUSLT Index  | 42491 | &nbsp;&nbsp; 4.330% (SOFR less a specified spread) | Monthly | 12/09/2026 | 29816 | 0 | (106) | 0 | (106) |
| &nbsp;&nbsp; MBC | Receive | ERAUSLT Index  | ERAUSLT Index  | 493 | &nbsp;&nbsp; 4.10% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 4068 | 0 | (15) | 0 | (15) |
| &nbsp;&nbsp; MEI | Receive | ERAEMLN Index  | ERAEMLN Index  | 82035 | &nbsp;&nbsp; 4.330% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 220331 | 0 | (809) | 0 | (809) |
|  | Receive | ERAEMLN Index  | ERAEMLN Index  | 2148 | &nbsp;&nbsp; 4.290% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 5769 | 0 | (21) | 0 | (21) |
|  | Receive | ERADXULN Index  | ERADXULN Index  | 8859 | &nbsp;&nbsp; 3.965% (SOFR plus a specified spread) | Monthly | 08/19/2026 | 22558 | 0 | (75) | 0 | (75) |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | Receive | ERAUSLT Index  | 4546 | &nbsp;&nbsp; 4.580% (FEDL01 plus a specified spread) | Monthly | 01/07/2026 | 15995 | 0 | (62) | (62) | 0 | (62) |
|  |  | Receive | RU20INTR Index  | 453 | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 6163 | 0 | (23) | (23) | 0 | (23) |
|  |  | Receive | ERAUSLT Index  | 9765 | &nbsp;&nbsp; 4.150% (SOFR plus a specified spread) | Monthly | 03/11/2026 | 80572 | 0 | (293) | (293) | 0 | (293) |
|  |  | Receive | ERADXULT Index  | 2293 | &nbsp;&nbsp; 4.655% (SOFR plus a specified spread) | Monthly | 04/01/2026 | 8068 | 0 | (32) | (32) | 0 | (32) |
|  |  | Receive | NDDUEAFE Index  | 954 | &nbsp;&nbsp; 3.980% (SOFR plus a specified spread) | Monthly | 05/20/2026 | 10117 | 0 | (34) | (34) | 0 | (34) |
|  |  | Receive | ERADXULN Index  | 49127 | &nbsp;&nbsp; 3.920% (SOFR plus a specified spread) | Monthly | 06/03/2026 | 125095 | 0 | (414) | (414) | 0 | (414) |
|  |  | Receive | NDDUEAFE Index  | 3376 | &nbsp;&nbsp; 3.990% (SOFR plus a specified spread) | Monthly | 06/03/2026 | 35802 | 0 | (122) | (122) | 0 | (122) |
|  |  | Receive | NDDUEAFE Index  | 3758 | &nbsp;&nbsp; 3.940% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 39853 | 0 | (134) | (134) | 0 | (134) |
|  |  | Receive | NDDUEAFE Index  | 4676 | &nbsp;&nbsp; 4.055% (SOFR plus a specified spread) | Monthly | 11/18/2026 | 49588 | 0 | (171) | (171) | 0 | (171) |
| &nbsp;&nbsp; UAG | &nbsp;&nbsp; UAG | Receive | NDDUEAFE Index  | 5359 | &nbsp;&nbsp; 4.055% (SOFR plus a specified spread) | Monthly | 11/18/2026 | 56831 | 0 | (197) | (197) | 0 | (197) |
|  |  |  |  |  |  |  |  |  | 0 | $(6646) | (6646) | $0 | $(6646) |
| **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** | **13032** | $**(6279)** | **(6279)** | $**13460** | $**(6707)** |
| **(m)** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,645 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| <sup>(2)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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. |
| <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. |
| <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. |
| <sup>(6)</sup> | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | 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** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | 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 12/31/2025 | Fair Value<br>at 12/31/2025 |  |
| **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** | **Investments in Securities, at Value** |  |
| Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | $0 | 0 | $3633 | $2374 | 2374 | $ | 6007 |  |
| 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 |  |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | 0 | 0 | 58406 | 1179 | 1179 |  | 59585 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 18064 | 0 | 0 |  | 18064 |  |
| Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | 0 | 0 | 8311 | 0 | 0 |  | 8311 |  |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |  |
| California | California | California | California | California | California | 0 | 0 | 1006 | 0 | 0 |  | 1006 |  |
| Illinois | Illinois | Illinois | Illinois | Illinois | Illinois | 0 | 0 | 351 | 0 | 0 |  | 351 |  |
| Nebraska | Nebraska | Nebraska | Nebraska | Nebraska | Nebraska | 0 | 0 | 22 | 0 | 0 |  | 22 |  |
| Ohio | Ohio | Ohio | Ohio | Ohio | Ohio | 0 | 0 | 55 | 0 | 0 |  | 55 |  |
| Pennsylvania | Pennsylvania | Pennsylvania | Pennsylvania | Pennsylvania | Pennsylvania | 0 | 0 | 6 | 0 | 0 |  | 6 |  |
| Washington | Washington | Washington | Washington | Washington | Washington | 0 | 0 | 650 | 0 | 0 |  | 650 |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 | 1868735 | 0 | 0 |  | 1868735 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 | 72048 | 0 | 0 |  | 72048 |  |
| 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 | Non-Agency Mortgage-Backed Securities | 0 | 0 | 138829 | 0 | 0 |  | 138829 |  |
| 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 |  |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | 0 | 0 | 28321 | 0 | 0 |  | 28321 |  |
| CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | 0 | 0 | 57944 | 0 | 0 |  | 57944 |  |
| Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | 0 | 0 | 286077 | 0 | 0 |  | 286077 |  |
| Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | 0 | 0 | 8 | 0 | 0 |  | 8 |  |
| Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | 0 | 0 | 44203 | 0 | 0 |  | 44203 |  |

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<br> Schedule of Investments PIMCO All Asset: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Other ABS | 0 | 127057 | 0 | 127057 |
| Sovereign Issues | 0 | 252553 | 0 | 252553 |
| Exchange-Traded Funds | 195959 | 0 | 0 | 195959 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Repurchase Agreements | 0 | 321600 | 0 | 321600 |
| Nigeria Treasury Bills | 0 | 2649 | 0 | 2649 |
| South Africa Treasury Bills | 0 | 798 | 0 | 798 |
| U.S. Treasury Bills | 0 | 10260 | 0 | 10260 |
|  | $195959 | $3301586 | $3553 | $3501098 |
| **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 | $40 | $0 | $0 | $40 |
| Total Investments | $195999 | $3301586 | $3553 | $3501138 |
| **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  |
| U.S. Government Agencies | $0 | $(273959) | $0 | $(273959) |
| **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 | 1938 | 3519 | 0 | 5457 |
| Over the counter | 0 | 63952 | 13 | 63965 |
|  | $1938 | $67471 | $13 | $69422 |
| **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 | (168) | (2098) | 0 | (2266) |
| Over the counter | 0 | (28366) | 0 | (28366) |
|  | $(168) | $(30464) | $0 | $(30632) |
| Total Financial Derivative Instruments | $1770 | $37007 | $13 | $38790 |
| Totals | $197769 | $3064634 | $3566 | $3265969 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund December 31, 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 186.5% ¤** |  |  |
| **CORPORATE BONDS & NOTES 1.0%**  |  |  |
| **BANKING & FINANCE 0.5%**  |  |  |
| **Ally Financial, Inc.** <br>8.000% due 11/01/2031 | $176 | $200 |
| **Avolon Holdings Funding Ltd.** <br>2.528% due 11/18/2027 | 21 | 20 |
| **Credicorp Capital Sociedad Titulizadora SA** <br>9.700% due 03/05/2045 | 1100 | 347 |
| **HSBC Holdings PLC** <br>6.000% due 03/29/2040 | 274 | 372 |
| **Jyske Realkredit AS**  |  |  |
| 0.500% due 10/01/2043  | 64 | 8 |
| 1.500% due 10/01/2053  | 2306 | 283 |
| 2.000% due 10/01/2053  | 3937 | 518 |
| **Nordea Kredit Realkreditaktieselskab**  |  |  |
| 1.500% due 10/01/2053  | 3916 | 468 |
| **Nykredit Realkredit AS**  |  |  |
| 2.000% due 10/01/2053  | 11 | 1 |
| **Realkredit Danmark AS**  |  |  |
| 1.500% due 10/01/2053  | 46579 | 5898 |
| 2.000% due 10/01/2053  | 1757 | 208 |
| 2.500% due 04/01/2047  | 2 | 0 |
| 3.000% due 10/01/2053  | 9780 | 1451 |
| **UBS Group AG**  |  |  |
| 1.000% due 06/24/2027 •  | 100 | 117 |
| 2.125% due 11/15/2029 •  | 100 | 127 |
| 2.875% due 04/02/2032 •  | 100 | 115 |
|  |  | 10133 |
| **INDUSTRIALS 0.5%**  |  |  |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | $8800 | 9305 |
| **VMware LLC** <br>3.900% due 08/21/2027 | 39 | 39 |
|  |  | 9344 |
| **UTILITIES 0.0%**  |  |  |
| **Verizon Communications, Inc.**  |  |  |
| 2.355% due 03/15/2032  | 46 | 41 |
| 5.401% due 07/02/2037  | 282 | 285 |
|  |  | 326 |
| Total Corporate Bonds & Notes (Cost $20,700) |  | 19803 |
| **U.S. GOVERNMENT AGENCIES 19.6%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 4.000% due 04/01/2050 - 01/01/2053 | 438 | 418 |
| 4.500% due 07/01/2052 - 08/01/2052 | 288 | 282 |
| 5.500% due 08/01/2054 | 32100 | 32586 |
| 6.000% due 02/01/2054 | 72 | 74 |
| 6.181% due 10/01/2036 •  | 1 | 1 |
| 6.195% due 09/01/2036 •  | 1 | 1 |
| 6.395% due 07/01/2036 •  | 4 | 4 |
| 6.500% due 10/01/2053 - 02/01/2054 | 329 | 342 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates**<br>2.920% due 01/25/2026 | 706 | 704 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 4.478% due 07/15/2036 •  | 11 | 11 |
| 4.548% due 05/15/2032 •  | 72 | 72 |
| 4.698% due 12/15/2037 •  | 16 | 16 |
| 4.718% due 10/15/2037 •  | 31 | 31 |
| 4.814% due 11/25/2054 •  | 8760 | 8797 |
| 4.824% due 10/25/2054 - 03/25/2055 •  | 2866 | 2887 |
| 5.024% due 03/25/2055 •  | 3457 | 3469 |
| 5.174% due 03/25/2055 •  | 1656 | 1667 |
| **Federal Home Loan Mortgage Corp. STRIPS**<br>4.548% due 09/15/2042 •  | 1 | 1 |
| **Federal National Mortgage Association**  |  |  |
| 3.500% due 02/01/2045 - 05/01/2052 | 314 | 291 |
| 4.000% due 09/01/2048 - 08/01/2052 | 1716 | 1631 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.500% due 09/01/2052 | 541 | 531 |
| 5.277% due 09/01/2044 - 10/01/2044 •  | 1 | 2 |
| 6.000% due 03/01/2054 | 15571 | 16001 |
| 6.497% due 05/01/2038 •  | 141 | 147 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 4.239% due 06/25/2048 •  | 2674 | 2624 |
| 4.419% due 10/25/2036 •  | 1 | 1 |
| 4.439% due 08/25/2037 •  | 31 | 30 |
| 4.904% due 06/25/2055 •  | 1683 | 1695 |
| 5.024% due 03/25/2055 •  | 1850 | 1857 |
| 5.034% due 03/25/2055 •  | 1735 | 1743 |
| **Government National Mortgage Association**  |  |  |
| 0.000% due 10/16/2053 ~(a) | 71 | 0 |
| 3.500% due 06/20/2052 - 04/20/2055 | 62217 | 57024 |
| **Government National Mortgage Association REMICS**  |  |  |
| 4.248% due 02/20/2049 •  | 305 | 299 |
| 4.287% due 10/20/2043 •  | 184 | 178 |
| 4.818% due 07/20/2073 •  | 17956 | 18124 |
| 4.927% due 08/20/2068 •  | 525 | 529 |
| 5.018% due 05/20/2073 •  | 382 | 389 |
| 5.088% due 09/20/2055 •  | 19396 | 19480 |
| **U.S. Small Business Administration**  |  |  |
| 5.160% due 02/01/2028 | 1 | 1 |
| 5.310% due 05/01/2027 | 1 | 1 |
| 5.510% due 11/01/2027 | 1 | 1 |
| 5.870% due 07/01/2028 | 1 | 1 |
| 6.770% due 11/01/2028 | 1 | 1 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 4.000% due 02/01/2056 | 18900 | 17918 |
| 4.500% due 02/01/2056 | 51700 | 50430 |
| 6.000% due 02/01/2056 | 101600 | 104272 |
| 6.500% due 02/01/2056 | 54000 | 56134 |
| Total U.S. Government Agencies (Cost $401,053) |  | 402698 |
| **U.S. TREASURY OBLIGATIONS 108.5%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 4.875% due 08/15/2045 (m) | 288 | 291 |
| **U.S. Treasury Inflation Protected Securities (f)** |  |  |
| 0.125% due 02/15/2051  | 23649 | 12791 |
| 0.125% due 02/15/2052 (m) | 21171 | 11215 |
| 0.250% due 02/15/2050  | 22670 | 13067 |
| 0.625% due 02/15/2043  | 23560 | 17555 |
| 0.750% due 02/15/2042  | 35406 | 27596 |
| 0.750% due 02/15/2045  | 41205 | 30079 |
| 0.875% due 02/15/2047  | 24962 | 18019 |
| 1.000% due 02/15/2046  | 27071 | 20434 |
| 1.000% due 02/15/2048  | 20730 | 15160 |
| 1.000% due 02/15/2049  | 22208 | 15994 |
| 1.375% due 02/15/2044  | 29840 | 25012 |
| 1.500% due 02/15/2053  | 32423 | 25309 |
| 1.750% due 01/15/2028 (k) | 18607 | 18749 |
| 2.125% due 02/15/2040 (m) | 7463 | 7395 |
| 2.125% due 02/15/2041  | 12323 | 12076 |
| 2.125% due 02/15/2054  | 25675 | 23094 |
| 2.375% due 01/15/2027  | 25349 | 25553 |
| 2.375% due 02/15/2055 (i) | 27757 | 26360 |
| 2.500% due 01/15/2029  | 14256 | 14718 |
| 3.375% due 04/15/2032 (m) | 134 | 148 |
| 3.875% due 04/15/2029 (k)(m) | 925 | 997 |
| 0.125% due 04/15/2026 (k) | 5550 | 5502 |
| 0.125% due 07/15/2026  | 37689 | 37471 |
| 0.125% due 10/15/2026 (i) | 56242 | 55723 |
| 0.125% due 04/15/2027 (k) | 31021 | 30466 |
| 0.125% due 01/15/2030 (i) | 75616 | 71740 |
| 0.125% due 07/15/2030 (i) | 61212 | 57785 |
| 0.125% due 01/15/2031 (i) | 85842 | 80043 |
| 0.125% due 07/15/2031 (i) | 76912 | 71286 |
| 0.125% due 01/15/2032 (i) | 70594 | 64529 |
| 0.250% due 07/15/2029 (i) | 46334 | 44654 |
| 0.375% due 01/15/2027  | 45156 | 44602 |
| 0.375% due 07/15/2027  | 44158 | 43653 |
| 0.500% due 01/15/2028  | 44873 | 44092 |
| 0.625% due 07/15/2032 (i) | 88868 | 83401 |
| 0.750% due 07/15/2028  | 38784 | 38328 |
| 0.875% due 01/15/2029 (i)(k)(m) | 67818 | 66786 |
| 1.125% due 10/15/2030  | 44291 | 43626 |
| 1.125% due 01/15/2033 (i) | 90399 | 86769 |
| 1.250% due 04/15/2028 (i)(k)(m) | 70777 | 70504 |
| 1.375% due 07/15/2033 (i)(m) | 79657 | 77673 |
| 1.625% due 10/15/2027 (i) | 59465 | 59924 |
| 1.625% due 10/15/2029 (i) | 78334 | 79124 |
| 1.625% due 04/15/2030 (i) | 62598 | 62930 |
| 1.750% due 01/15/2034 (i) | 75948 | 75547 |
| 1.875% due 07/15/2034 (i) | 106361 | 106826 |
| 1.875% due 07/15/2035 (i) | 94811 | 94586 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 2.125% due 04/15/2029 (i) | 90110 | 92032 |
| 2.125% due 01/15/2035 (i) | 95743 | 97467 |
| 2.375% due 10/15/2028 (i) | 75795 | 78068 |
| **U.S. Treasury Notes**  |  |  |
| 4.250% due 08/15/2035 (m) | 451 | 454 |
| Total U.S. Treasury Obligations (Cost $2,239,504) |  | 2227203 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 2.0%**  |  |  |
| **Alliance Bancorp Trust** <br>4.326% due 07/25/2037 •  | 1190 | 1065 |
| **Banc of America Funding Trust** <br>4.443% due 05/20/2036 ~ | 19 | 17 |
| **Bear Stearns ALT-A Trust** <br>4.718% due 07/25/2035 ~ | 47 | 29 |
| **Bear Stearns ARM Trust**  |  |  |
| 4.214% due 07/25/2036 ~  | 9 | 7 |
| 4.422% due 02/25/2036 ~  | 20 | 19 |
| 5.477% due 01/25/2035 ~  | 4 | 4 |
| 6.470% due 01/25/2035 ~  | 6 | 6 |
| **Chase Mortgage Finance Trust**  |  |  |
| 5.691% due 02/25/2037 ~  | 6 | 6 |
| 6.731% due 02/25/2037 ~  | 3 | 3 |
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 4.589% due 08/20/2035 ~  | 71 | 68 |
| 4.773% due 11/20/2034 ~  | 10 | 9 |
| 5.500% due 01/25/2035  | 13 | 14 |
| 6.000% due 04/25/2036  | 39 | 19 |
| **CHL Reperforming Loan Trust REMICS** <br>4.186% due 06/25/2035 •  | 3 | 2 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 6.040% due 11/25/2035 •  | 2 | 2 |
| 6.746% due 03/25/2034 ~  | 4 | 4 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 5.500% due 04/25/2035  | 905 | 737 |
| 5.500% due 11/25/2035  | 7 | 6 |
| 6.000% due 03/25/2037  | 649 | 216 |
| 6.500% due 09/25/2037  | 164 | 57 |
| **CSFB Mortgage-Backed Pass-Through Certificates** <br>4.546% due 10/25/2035 •  | 36 | 16 |
| **CSMC Trust** <br>4.129% due 10/26/2036 ~ | 2 | 2 |
| **Deutsche Alt-A Securities, Inc. Mortgage Loan Trust** <br>4.799% due 04/25/2047 •  | 108 | 99 |
| **Eurosail-U.K. PLC** <br>4.851% due 06/13/2045 •  | 34 | 46 |
| **First Horizon Alternative Mortgage Securities Trust**  |  |  |
| 4.958% due 04/25/2035 ~  | $11 | 10 |
| 6.000% due 02/25/2037  | 58 | 20 |
| **Government National Mortgage Association REMICS** <br>4.688% due 09/20/2075 •  | 18155 | 18216 |
| **GSR Mortgage Loan Trust**  |  |  |
| 4.521% due 01/25/2036 ~  | 5 | 5 |
| 4.970% due 11/25/2035 ~  | 4 | 4 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 4.106% due 03/19/2037 •  | 55 | 51 |
| 4.256% due 12/19/2036 •  | 750 | 612 |
| 4.286% due 05/19/2035 •  | 35 | 34 |
| 4.466% due 11/19/2035 •  | 22 | 14 |
| 4.528% due 06/20/2035 •  | 28 | 26 |
| **IndyMac INDA Mortgage Loan Trust** <br>3.197% due 11/25/2035 ~ | 12 | 9 |
| **IndyMac INDX Mortgage Loan Trust**  |  |  |
| 4.266% due 07/25/2036 •  | 68 | 67 |
| 4.406% due 07/25/2035 •  | 307 | 225 |
| **JP Morgan Alternative Loan Trust**  |  |  |
| 4.246% due 06/25/2037 •  | 801 | 292 |
| 6.810% due 08/25/2036 þ  | 75 | 74 |
| **MASTR Adjustable Rate Mortgages Trust** <br>5.633% due 11/21/2034 ~ | 6 | 6 |
| **Mellon Residential Funding Corp. Mortgage Pass-Through Certificates** <br>4.605% due 09/15/2030 •  | 1 | 1 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 4.766% due 06/25/2035 ~  | 7 | 7 |
| 5.223% due 12/25/2034 ~  | 3 | 2 |
| **New Residential Mortgage Loan Trust** <br>2.750% due 07/25/2059 ~ | 325 | 316 |
| **Project Cashmere** <br>4.543% due 12/30/2057 «(b) | 26400 | 17618 |
| **RALI Trust** <br>6.000% due 09/25/2036 | $46 | 37 |
| **Residential Asset Securitization Trust**  |  |  |
| 4.246% due 05/25/2035 •  | 131 | 78 |
| 5.750% due 03/25/2037  | 51 | 15 |
| 6.500% due 09/25/2036  | 888 | 255 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Structured Adjustable Rate Mortgage Loan Trust**  |  |  |
| 4.937% due 11/25/2034 •  | 43 | 41 |
| 5.005% due 03/25/2036 ~  | 14 | 11 |
| **Structured Asset Mortgage Investments II Trust**  |  |  |
| 4.266% due 05/25/2036 •  | 6 | 4 |
| 4.526% due 05/19/2035 •  | 2 | 2 |
| **Thornburg Mortgage Securities Trust** <br>5.463% due 03/25/2037 •  | 141 | 100 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 4.325% due 08/25/2036 ~  | 1 | 1 |
| 4.586% due 11/25/2034 •  | 11 | 11 |
| 4.586% due 01/25/2045 •  | 14 | 14 |
| 4.646% due 01/25/2045 •  | 15 | 15 |
| 4.966% due 01/25/2035 ~  | 2 | 2 |
| 5.362% due 06/25/2034 ~  | 2 | 2 |
| 5.974% due 10/25/2034 ~  | 2 | 2 |
| **Washington Mutual Mortgage Pass-Through Certificates Trust** <br>6.500% due 08/25/2035 | 9 | 7 |
| **Wells Fargo Mortgage-Backed Securities Trust** <br>6.064% due 04/25/2036 ~ | 10 | 10 |
| Total Non-Agency Mortgage-Backed Securities (Cost $41,529) |  | 40669 |
| **ASSET-BACKED SECURITIES 7.0%**  |  |  |
| **CMBS OTHER 0.4%**  |  |  |
| **Arbor Realty Commercial Real Estate Notes Ltd.** <br>5.215% due 11/15/2036 •  | 2013 | 2026 |
| **MF1 Ltd.** <br>4.929% due 10/16/2036 •  | 3096 | 3094 |
| **Starwood Ltd.** <br>5.049% due 04/18/2038 •  | 2849 | 2852 |
|  |  | 7972 |
| **HOME EQUITY OTHER 1.4%**  |  |  |
| **ACE Securities Corp. Home Equity Loan Trust**  |  |  |
| 4.746% due 12/25/2034 •  | 38 | 35 |
| 4.971% due 04/25/2035 •  | 2000 | 1837 |
| **Argent Mortgage Loan Trust** <br>4.326% due 05/25/2035 •  | 57 | 53 |
| **Asset-Backed Securities Corp. Home Equity Loan Trust** <br>4.306% due 11/25/2036 •  | 306 | 302 |
| **Bear Stearns Asset-Backed Securities I Trust** <br>4.506% due 02/25/2036 •  | 494 | 491 |
| **BNC Mortgage Loan Trust** <br>4.166% due 11/25/2036 •  | 293 | 287 |
| **Citigroup Mortgage Loan Trust, Inc.** <br>4.251% due 05/25/2037 •  | 2400 | 2282 |
| **Countrywide Asset-Backed Certificates** <br>4.346% due 03/25/2037 •  | 77 | 76 |
| **Countrywide Asset-Backed Certificates Trust**  |  |  |
| 4.036% due 11/25/2037 •  | 1986 | 1916 |
| 4.126% due 05/25/2035 •  | 188 | 183 |
| 4.126% due 07/25/2037 •  | 56 | 52 |
| 4.246% due 09/25/2037 •  | 15 | 14 |
| 4.326% due 05/25/2036 •  | 659 | 576 |
| 4.626% due 11/25/2034 •  | 19 | 18 |
| 4.881% due 12/25/2035 •  | 269 | 266 |
| 5.571% due 11/25/2034 •  | 2920 | 2693 |
| 5.805% due 04/25/2036 ~  | 46 | 42 |
| **Fremont Home Loan Trust**  |  |  |
| 4.116% due 10/25/2036 •  | 86 | 79 |
| 4.126% due 01/25/2037 •  | 166 | 86 |
| 4.326% due 10/25/2036 •  | 622 | 249 |
| 4.686% due 03/25/2035 •  | 1701 | 1439 |
| **GSAMP Trust**  |  |  |
| 4.246% due 11/25/2036 •  | 79 | 37 |
| 4.581% due 09/25/2035 •  | 4 | 3 |
| 4.821% due 03/25/2035 •  | 87 | 85 |
| **Home Equity Mortgage Loan Asset-Backed Trust**  |  |  |
| 4.066% due 04/25/2037 •  | 77 | 61 |
| 4.616% due 11/25/2034 •  | 13 | 13 |
| **HSI Asset Securitization Corp. Trust** <br>4.386% due 02/25/2036 •  | 20 | 20 |
| **Long Beach Mortgage Loan Trust** <br>4.086% due 08/25/2036 •  | 68 | 27 |
| **MASTR Asset-Backed Securities Trust** <br>4.186% due 06/25/2036 •  | 176 | 165 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 4.266% due 02/25/2037 •  | 1266 | 358 |
| 4.566% due 10/25/2035 •  | 1223 | 1202 |
| **Morgan Stanley ABS Capital I, Inc. Trust**  |  |  |
| 3.976% due 10/25/2036 •  | 474 | 428 |
| 4.746% due 05/25/2034 •  | 1181 | 1154 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.881% due 07/25/2035 •  | 335 | 331 |
| **Option One Mortgage Loan Trust**  |  |  |
| 4.086% due 04/25/2037 •  | 2601 | 1290 |
| 4.126% due 01/25/2037 •  | 177 | 116 |
| 4.126% due 03/25/2037 •  | 138 | 93 |
| **Ownit Mortgage Loan Trust** <br>4.126% due 09/25/2037 •  | 3739 | 3343 |
| **Renaissance Home Equity Loan Trust**  |  |  |
| 4.706% due 06/25/2033 •  | 1199 | 1088 |
| 4.946% due 09/25/2037 •  | 729 | 291 |
| 5.294% due 01/25/2037 þ  | 7262 | 2191 |
| **Residential Asset Securities Corporation Trust**  |  |  |
| 4.126% due 09/25/2036 •  | 808 | 804 |
| 4.326% due 08/25/2036 •  | 252 | 226 |
| **Saxon Asset Securities Trust** <br>4.156% due 09/25/2037 •  | 40 | 39 |
| **Securitized Asset-Backed Receivables LLC Trust** <br>4.521% due 10/25/2035 •  | 1054 | 1030 |
| **Soundview Home Loan Trust**  |  |  |
| 4.046% due 06/25/2037 •  | 630 | 438 |
| 4.796% due 10/25/2037 •  | 79 | 63 |
| **Structured Asset Securities Corp. Mortgage Loan Trust** <br>4.416% due 10/25/2036 •  | 116 | 116 |
| **Wells Fargo Home Equity Asset-Backed Securities Trust** <br>6.246% due 12/25/2034 •  | 64 | 64 |
|  |  | 28052 |
| **MANUFACTURING HOUSE ABS OTHER 0.0%**  |  |  |
| **Lehman ABS Manufactured Housing Contract Trust** <br>7.170% due 04/15/2040 ~ | 751 | 718 |
| **WHOLE LOAN COLLATERAL 0.6%**  |  |  |
| **Bear Stearns Asset-Backed Securities Trust** <br>4.846% due 09/25/2046 •  | 24 | 22 |
| **Citigroup Mortgage Loan Trust** <br>4.551% due 03/25/2037 •  | 4100 | 4016 |
| **Citigroup Mortgage Loan Trust, Inc.** <br>4.341% due 10/25/2036 •  | 254 | 251 |
| **First Franklin Mortgage Loan Trust**  |  |  |
| 4.551% due 11/25/2036 •  | 342 | 337 |
| 4.716% due 09/25/2035 •  | 61 | 61 |
| **IndyMac INDB Mortgage Loan Trust** <br>3.986% due 07/25/2036 •  | 818 | 258 |
| **Lehman XS Trust** <br>4.377% due 06/25/2036 þ | 133 | 131 |
| **Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates** <br>4.606% due 12/25/2035 •  | 282 | 280 |
| **Securitized Asset-Backed Receivables LLC Trust** <br>4.346% due 05/25/2036 •  | 788 | 425 |
| **Specialty Underwriting & Residential Finance Trust**  |  |  |
| 4.166% due 09/25/2037 •  | 9596 | 4717 |
| 4.246% due 04/25/2037 •  | 2543 | 1888 |
|  |  | 12386 |
| **OTHER ABS 4.6%**  |  |  |
| **522 Funding CLO Ltd.** <br>5.186% due 10/20/2031 •  | 131 | 131 |
| **AMMC CLO 24 Ltd.** <br>5.084% due 01/20/2035 •  | 3000 | 3001 |
| **Anchorage Capital CLO 21 Ltd.** <br>4.934% due 10/20/2034 •  | 2800 | 2798 |
| **Arbour CLO DAC** <br>3.394% due 05/15/2038 •  | 3500 | 4122 |
| **Bain Capital Credit CLO Ltd.** <br>4.850% due 04/23/2035 •  | $6700 | 6698 |
| **Bain Capital Euro CLO DAC**  |  |  |
| 2.744% due 01/20/2032 •  | 585 | 688 |
| 3.265% due 01/22/2038 •  | 1400 | 1647 |
| **BlackRock European CLO VII DAC** <br>2.629% due 10/15/2031 •  | 532 | 626 |
| **BlueMountain Fuji EUR CLO V DAC** <br>2.919% due 01/15/2033 •  | 1367 | 1608 |
| **Cairn CLO X DAC** <br>2.789% due 10/15/2031 •  | 1138 | 1338 |
| **Capital Four CLO X DAC** <br>3.279% due 10/25/2038 •  | 2000 | 2352 |
| **Capital Street Master Trust** <br>5.324% due 10/16/2028 •  | $1000 | 1000 |
| **Carlyle Euro CLO DAC** <br>2.709% due 01/15/2031 •  | 1100 | 1293 |
| **Carlyle Global Market Strategies CLO Ltd.** <br>4.974% due 07/20/2034 •  | $5700 | 5703 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Carlyle Global Market Strategies Euro CLO Ltd.** <br>2.814% due 11/15/2031 •  | 479 | 563 |
| **CQS U.S. CLO Ltd.** <br>5.084% due 01/20/2035 •  | $1900 | 1902 |
| **Crown Point CLO 7 Ltd.** <br>5.114% due 10/20/2031 •  | 219 | 219 |
| **Dryden 27 R Euro CLO DAC** <br>2.686% due 04/15/2033 •  | 823 | 968 |
| **Dryden 52 Euro CLO DAC** <br>2.924% due 05/15/2034 •  | 1009 | 1187 |
| **Euro-Galaxy III CLO DAC** <br>2.686% due 04/24/2034 •  | 299 | 351 |
| **Greywolf CLO IV Ltd.** <br>5.122% due 04/17/2034 •  | $1950 | 1952 |
| **Guggenheim CLO Ltd.** <br>5.055% due 01/15/2035 •  | 3400 | 3396 |
| **Hayfin Emerald CLO V DAC** <br>3.274% due 11/17/2037 •  | 1100 | 1291 |
| **Hayfin Emerald CLO X DAC** <br>3.251% due 10/18/2039 •  | 4600 | 5411 |
| **Henley CLO VI DAC** <br>3.065% due 06/10/2034 •  | 1900 | 2235 |
| **Jamestown CLO XVI Ltd.** <br>4.978% due 07/25/2034 •  | $4500 | 4501 |
| **Jubilee CLO DAC** <br>2.659% due 04/15/2031 •  | 549 | 646 |
| **KKR CLO 11 Ltd.** <br>5.346% due 01/15/2031 •  | $256 | 256 |
| **Madison Park Funding XLVI Ltd.** <br>4.905% due 10/15/2034 •  | 1200 | 1199 |
| **Man GLG Euro CLO V DAC** <br>2.790% due 12/15/2031 •  | 296 | 349 |
| **Massachusetts Educational Financing Authority** <br>5.525% due 04/25/2038 •  | $17 | 17 |
| **Octagon Investment Partners 40 Ltd.** <br>4.924% due 01/20/2035 •  | 1500 | 1500 |
| **Palmer Square European Loan Funding DAC** <br>2.859% due 10/15/2034 •  | 1174 | 1380 |
| **Rockford Tower Europe CLO DAC** <br>3.326% due 08/29/2036 •  | 1100 | 1294 |
| **Romark CLO Ltd.** <br>5.151% due 10/23/2030 •  | $25 | 25 |
| **Saranac CLO VI Ltd.** <br>5.125% due 08/13/2031 •  | 408 | 408 |
| **Sculptor CLO XXVII Ltd.** <br>4.944% due 07/20/2034 •  | 2700 | 2700 |
| **Sculptor European CLO IV DAC** <br>3.265% due 04/27/2038 •  | 4800 | 5651 |
| **TCI-Symphony CLO Ltd.** <br>5.193% due 10/13/2032 •  | $2506 | 2508 |
| **Trinitas CLO XX Ltd.** <br>4.924% due 07/20/2035 •  | 3100 | 3093 |
| **Trysail CLO Ltd.** <br>5.123% due 10/20/2033 •  | 1100 | 1101 |
| **Venture XXIX CLO Ltd.** <br>5.103% due 09/07/2030 •  | 23 | 23 |
| **Venture XXVII CLO Ltd.** <br>5.196% due 07/20/2030 •  | 77 | 77 |
| **Verdelite Static CLO Ltd.** <br>5.014% due 07/20/2032 •  | 1460 | 1460 |
| **Voya Euro CLO IV DAC** <br>2.979% due 10/15/2034 •  | 10770 | 12666 |
| **Voya Ltd.** <br>5.166% due 10/15/2030 •  | $65 | 65 |
|  |  | 93399 |
| Total Asset-Backed Securities (Cost $145,522) |  | 142527 |
| **SOVEREIGN ISSUES 5.2%**  |  |  |
| **Brazil Letras do Tesouro Nacional** <br>0.000% due 04/01/2026 (e) | 296100 | 52271 |
| **Canada Government Real Return Bonds** <br>4.250% due 12/01/2026 (f) | 1254 | 943 |
| **French Republic Government Bonds OAT** <br>0.100% due 07/25/2031 (f) | 5410 | 6018 |
| **Italy Buoni Poliennali Del Tesoro**  |  |  |
| 0.400% due 05/15/2030 (f)  | 2494 | 2852 |
| 1.800% due 05/15/2036 (f)  | 938 | 1101 |
| **Japan Government CPI-Linked Bonds**  |  |  |
| 0.005% due 03/10/2034 (f)  | 357564 | 2238 |
| 0.005% due 03/10/2035 (f)  | 1347667 | 8393 |
| 0.100% due 03/10/2028 (f)  | 1520442 | 9876 |
| 0.100% due 03/10/2029 (f)  | 3250665 | 21095 |
| **Mexico Government International Bonds**  |  |  |
| 5.850% due 07/02/2032  | $400 | 411 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.625% due 01/29/2038  | 400 | 418 |
| Total Sovereign Issues (Cost $113,828) |  | 105616 |
|  | SHARES |  |
| **COMMON STOCKS 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **CBRE Group, Inc. Class A (c)** | 3020 | 485 |
| **Jones Lang LaSalle, Inc. (c)** | 1533 | 516 |
| Total Common Stocks (Cost $839) |  | 1001 |
| **PREFERRED SECURITIES 0.0%**  |  |  |
| **BANKING & FINANCE 0.0%**  |  |  |
| **Bank of America Corp.**<br>5.875% due 03/15/2028 (g) | 223000 | 225 |
| Total Preferred Securities (Cost $230) |  | 225 |
| **REAL ESTATE INVESTMENT TRUSTS 26.4%**  |  |  |
| **REAL ESTATE 26.4%**  |  |  |
| **Acadia Realty Trust** | 68198 | 1401 |
| **Agree Realty Corp.** | 56325 | 4057 |
| **Alexander & Baldwin, Inc.** | 5728 | 118 |
| **Alexandria Real Estate Equities, Inc.** | 79778 | 3904 |
| **American Assets Trust, Inc.** | 3752 | 71 |
| **American Healthcare REIT, Inc.** | 183262 | 8624 |
| **American Homes 4 Rent** | 125474 | 4028 |
| **Americold Realty Trust, Inc.** | 22500 | 289 |
| **Apartment Investment & Management Co.** | 13644 | 81 |
| **Apple Hospitality REIT, Inc.** | 17476 | 207 |
| **AvalonBay Communities, Inc.** | 73046 | 13244 |
| **Brandywine Realty Trust** | 13607 | 40 |
| **Brixmor Property Group, Inc.** | 155569 | 4079 |
| **Broadstone Net Lease, Inc.** | 147296 | 2558 |
| **BXP, Inc.** | 75143 | 5071 |
| **Camden Property Trust** | 52625 | 5793 |
| **CareTrust REIT, Inc.** | 152228 | 5505 |
| **Centerspace** | 8410 | 561 |
| **Community Healthcare Trust, Inc.** | 1929 | 32 |
| **COPT Defense Properties** | 57091 | 1587 |
| **Cousins Properties, Inc.** | 85080 | 2193 |
| **CubeSmart** | 97761 | 3524 |
| **Curbline Properties Corp.** | 7675 | 178 |
| **DiamondRock Hospitality Co.** | 104297 | 934 |
| **Digital Realty Trust, Inc.** | 164606 | 25466 |
| **Diversified Healthcare Trust** | 103982 | 504 |
| **Douglas Emmett, Inc.** | 13477 | 148 |
| **Easterly Government Properties, Inc.** | 22451 | 476 |
| **EastGroup Properties, Inc.** | 27183 | 4842 |
| **Elme Communities** | 45552 | 793 |
| **Empire State Realty Trust, Inc.** | 10856 | 71 |
| **EPR Properties** | 38583 | 1925 |
| **Equinix, Inc.** | 49936 | 38259 |
| **Equity LifeStyle Properties, Inc.** | 99557 | 6034 |
| **Equity Residential** | 178379 | 11245 |
| **Essential Properties Realty Trust, Inc.** | 116353 | 3451 |
| **Essex Property Trust, Inc.** | 33059 | 8651 |
| **Extra Space Storage, Inc.** | 104329 | 13586 |
| **Federal Realty Investment Trust** | 39835 | 4015 |
| **First Industrial Realty Trust, Inc.** | 80685 | 4621 |
| **Four Corners Property Trust, Inc.** | 8263 | 190 |
| **Getty Realty Corp.** | 4115 | 113 |
| **Gladstone Commercial Corp.** | 3663 | 39 |
| **Global Medical REIT, Inc.** | 6757 | 228 |
| **Global Net Lease, Inc.** | 102742 | 884 |
| **Healthcare Realty Trust, Inc.** | 179249 | 3038 |
| **Healthpeak Properties, Inc.** | 353579 | 5686 |
| **Highwoods Properties, Inc.** | 54904 | 1418 |
| **Host Hotels & Resorts, Inc.** | 406349 | 7205 |
| **Hudson Pacific Properties, Inc.** | 26899 | 291 |
| **Independence Realty Trust, Inc.** | 91664 | 1602 |
| **Innovative Industrial Properties, Inc.** | 14196 | 672 |
| **Invitation Homes, Inc.** | 290594 | 8076 |
| **JBG SMITH Properties** | 4215 | 72 |
| **Kilroy Realty Corp.** | 55248 | 2065 |
| **Kimco Realty Corp.** | 348385 | 7062 |
| **Kite Realty Group Trust** | 112076 | 2686 |
| **LXP Industrial Trust** | 31118 | 1543 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Macerich Co.** | 127161 | 2347 |
| **Medical Properties Trust, Inc.** | 252840 | 1264 |
| **Mid-America Apartment Communities, Inc.** | 58249 | 8091 |
| **National Health Investors, Inc.** | 24245 | 1852 |
| **National Storage Affiliates Trust** | 19796 | 558 |
| **NET Lease Office Properties** | 1179 | 30 |
| **NETSTREIT Corp.** | 42528 | 750 |
| **NexPoint Residential Trust, Inc.** | 1718 | 52 |
| **NNN REIT, Inc.** | 94810 | 3757 |
| **Omega Healthcare Investors, Inc.** | 181711 | 8057 |
| **Park Hotels & Resorts, Inc.** | 99684 | 1043 |
| **Pebblebrook Hotel Trust** | 59390 | 672 |
| **Phillips Edison & Co., Inc.** | 64651 | 2300 |
| **Piedmont Realty Trust, Inc.** | 66165 | 552 |
| **Plymouth Industrial REIT, Inc.** | 22332 | 489 |
| **Prologis, Inc.** | 474022 | 60514 |
| **Public Storage** | 79758 | 20697 |
| **Realty Income Corp.** | 451824 | 25469 |
| **Regency Centers Corp.** | 83206 | 5744 |
| **Rexford Industrial Realty, Inc.** | 120921 | 4682 |
| **RLJ Lodging Trust** | 11665 | 87 |
| **Ryman Hospitality Properties, Inc.** | 32135 | 3041 |
| **Service Properties Trust** | 12270 | 23 |
| **Sila Realty Trust, Inc.** | 4373 | 102 |
| **Simon Property Group, Inc.** | 166160 | 30758 |
| **SITE Centers Corp.** | 513 | 3 |
| **SL Green Realty Corp.** | 16993 | 779 |
| **STAG Industrial, Inc.** | 94712 | 3482 |
| **Summit Hotel Properties, Inc.** | 50596 | 246 |
| **Sun Communities, Inc.** | 60673 | 7518 |
| **Sunstone Hotel Investors, Inc.** | 98510 | 881 |
| **Tanger, Inc.** | 57709 | 1926 |
| **Terreno Realty Corp.** | 52741 | 3096 |
| **UDR, Inc.** | 140594 | 5157 |
| **UMH Properties, Inc.** | 6385 | 102 |
| **Universal Health Realty Income Trust** | 992 | 39 |
| **Urban Edge Properties** | 63250 | 1214 |
| **Ventas, Inc.** | 261525 | 20237 |
| **Veris Residential, Inc.** | 40642 | 605 |
| **Vornado Realty Trust** | 55471 | 1846 |
| **Welltower, Inc.** | 374678 | 69544 |
| **WP Carey, Inc.** | 111991 | 7208 |
| **Xenia Hotels & Resorts, Inc.** | 51132 | 723 |
| Total Real Estate Investment Trusts (Cost $487,817) |  | 542573 |
|  | OUNCES |  |
| **COMMODITIES 6.3%**  |  |  |
| Gold Warehouse Receipts  | 82249 | 129634 |
| Total Commodities (Cost $82,249) |  | 129634 |
| **SHORT-TERM INSTRUMENTS 10.4%**  |  |  |
| **REPURCHASE AGREEMENTS (h) 9.4%** |  | 193634 |
| **U.S. TREASURY BILLS 1.0%**  |  |  |
| 3.674% due 01/02/2026 - 04/28/2026 (d)(e)(k)(m) | 21543 | 21354 |
| Total Short-Term Instruments (Cost $214,985) |  | 214988 |
| Total Investments in Securities (Cost $3,748,256) |  | 3826937 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 0.1%**  |  |  |
| **SHORT-TERM INSTRUMENTS 0.1%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.1%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 219103 | 2134 |
| Total Short-Term Instruments (Cost $2,134) |  | 2134 |
| Total Investments in Affiliates (Cost $2,134) |  | 2134 |
| Total Investments 186.6% (Cost $3,750,390) |  | 3829071 |
| **Financial Derivative Instruments (j)(l) (0.2)**%(Cost or Premiums, net $63) |  | (3541) |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | |
|:---|:---|
| Other Assets and Liabilities, net (86.4)% | (1773340) |
| Net Assets 100.0% | $2052190 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED 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.** |
| **¤** | **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).** |
| **~** | **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.** |
| **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.** |
| **(a)** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** |
| **(b)** | **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.** |
| **(c)** | **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.** |
| **(d)** | **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.** |
| **(e)** | **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.** |
| **(f)** | **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.** |
| **(g)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **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** |
| **(h)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Lending<br>Rate | Maturity<br>Date | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 3.790%  | 01/05/2026 | 91100 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | (92923) | 91100 | 91100 |
|  | 3.870  | 01/02/2026 | 85200 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% due 07/31/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% due 07/31/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% due 07/31/2030 | (86790) | 85200 | 85218 |
|  | 3.900  | 01/02/2026 | 10500 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 08/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 08/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 08/31/2029 | (10710) | 10500 | 10502 |
| TDM | 3.600  | 01/02/2026 | 6834 | &nbsp;&nbsp; U.S. Treasury Inflation-Indexed Notes 1.875% due 07/15/2035 | &nbsp;&nbsp; U.S. Treasury Inflation-Indexed Notes 1.875% due 07/15/2035 | &nbsp;&nbsp; U.S. Treasury Inflation-Indexed Notes 1.875% due 07/15/2035 | (6836) | 6834 | 6835 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  | **(197259)** | **193634** | **193655** |
| **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 | Borrowing Rate<sup>(2)</sup> | Borrowing Rate<sup>(2)</sup> | Settlement Date | Maturity Date | Amount<br>Borrowed<sup>(2)</sup> | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| BOO | BOO | BOO | 3.950%  | 3.950%  | 12/31/2025 | 01/02/2026 | (6961) | (6961) | (6963) |
| CIB | CIB | CIB | 3.930  | 3.930  | 12/17/2025 | 01/07/2026 | (116204) | (116204) | (116407) |
|  |  |  | 3.940  | 3.940  | 12/18/2025 | 01/02/2026 | (35591) | (35591) | (35650) |
| CTR | CTR | CTR | 3.860  | 3.860  | 01/02/2026 | 01/05/2026 | (421878) | (421878) | (421878) |
|  |  |  | 3.970  | 3.970  | 12/31/2025 | 01/02/2026 | (363104) | (363104) | (363184) |
| FAR | FAR | FAR | 3.880  | 3.880  | 12/18/2025 | 01/15/2026 | (393957) | (393957) | (394594) |
| NOM | NOM | NOM | 3.920  | 3.920  | 12/11/2025 | 01/08/2026 | (72846) | (72846) | (73020) |
| RCY | RCY | RCY | 3.940  | 3.940  | 12/11/2025 | 01/12/2026 | (436910) | (436910) | (437962) |
| TDM | TDM | TDM | 3.950  | 3.950  | 12/31/2025 | 01/02/2026 | (7219) | (7219) | (7220) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  | **(1856878)** |
| **(i)** | **Securities with an aggregate market value of $1,434,545 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,434,545 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,434,545 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,434,545 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,434,545 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,434,545 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,434,545 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,434,545 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,434,545 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |
| <sup>(2)</sup> | The average amount of borrowings outstanding during the period ended December 31, 2025 was $(1363950) at a weighted average interest rate of 4.402%. 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 December 31, 2025 was $(1363950) at a weighted average interest rate of 4.402%. 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 December 31, 2025 was $(1363950) at a weighted average interest rate of 4.402%. 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 December 31, 2025 was $(1363950) at a weighted average interest rate of 4.402%. 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 December 31, 2025 was $(1363950) at a weighted average interest rate of 4.402%. 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 December 31, 2025 was $(1363950) at a weighted average interest rate of 4.402%. 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 December 31, 2025 was $(1363950) at a weighted average interest rate of 4.402%. 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 December 31, 2025 was $(1363950) at a weighted average interest rate of 4.402%. 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 December 31, 2025 was $(1363950) at a weighted average interest rate of 4.402%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| **(j)** | **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** |
| **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** |
| **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** |
| Description | Description | Description | Description | Strike<br>Price | Expiration<br>Date | Notional Amount | Cost | Cost | Market<br>Value |
| Put - ICE Crude Oil March 2026 Futures  | Put - ICE Crude Oil March 2026 Futures  | Put - ICE Crude Oil March 2026 Futures  | Put - ICE Crude Oil March 2026 Futures  | $55.000 | 01/27/2026 | 61 | $45 | 45 | 16 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Put - NYMEX Crude Oil March 2026 Futures  | Put - NYMEX Crude Oil March 2026 Futures  | Put - NYMEX Crude Oil March 2026 Futures  | 50.000 | 50.000 | 02/17/2026 | 52 | 52 | 65 |  | 21 |
| Call - NYMEX Natural Gas March 2026 Futures  | Call - NYMEX Natural Gas March 2026 Futures  | Call - NYMEX Natural Gas March 2026 Futures  | 3.750 | 3.750 | 02/24/2026 | 22 | 220 | 43 |  | 25 |
| Call - NYMEX Natural Gas March 2026 Futures  | Call - NYMEX Natural Gas March 2026 Futures  | Call - NYMEX Natural Gas March 2026 Futures  | 4.500 | 4.500 | 02/24/2026 | 89 | 890 | 220 |  | 37 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **$** | **373** | **373** | **99** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** | **COMMODITY OPTIONS** |
| Description | Description | Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional Amount | Premiums<br>(Received) |  | Market<br>Value |
| Call - CME Silver December 2026 Futures  | Call - CME Silver December 2026 Futures  | Call - CME Silver December 2026 Futures  | $65.000 | 65.000 | 11/24/2026 | 47 | 235 | (2218) | $ | (3588) |
| Put - CME Silver December 2026 Futures  | Put - CME Silver December 2026 Futures  | Put - CME Silver December 2026 Futures  | 65.000 | 65.000 | 11/24/2026 | 47 | 235 | (2200) |  | (1783) |
| Call - CME Silver December 2026 Futures  | Call - CME Silver December 2026 Futures  | Call - CME Silver December 2026 Futures  | 100.000 | 100.000 | 11/24/2026 | 24 | 120 | (398) |  | (718) |
| Call - CME Silver December 2026 Futures  | Call - CME Silver December 2026 Futures  | Call - CME Silver December 2026 Futures  | 120.000 | 120.000 | 11/24/2026 | 19 | 95 | (199) |  | (373) |
| Call - ICE Crude Oil March 2026 Futures  | Call - ICE Crude Oil March 2026 Futures  | Call - ICE Crude Oil March 2026 Futures  | 70.000 | 70.000 | 01/27/2026 | 61 | 61 | (53) |  | (9) |
| Call - NYMEX Crude Oil March 2026 Futures  | Call - NYMEX Crude Oil March 2026 Futures  | Call - NYMEX Crude Oil March 2026 Futures  | 64.000 | 64.000 | 02/17/2026 | 52 | 52 | (63) |  | (29) |
| Put - NYMEX Natural Gas March 2026 Futures  | Put - NYMEX Natural Gas March 2026 Futures  | Put - NYMEX Natural Gas March 2026 Futures  | 3.000 | 3.000 | 02/24/2026 | 22 | 220 | (44) |  | (48) |
| Put - NYMEX Natural Gas March 2026 Futures  | Put - NYMEX Natural Gas March 2026 Futures  | Put - NYMEX Natural Gas March 2026 Futures  | 3.500 | 3.500 | 02/24/2026 | 89 | 890 | (208) |  | (475) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **(5383)** | **(5383)** | **(7023)** |
| **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 | 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) | Asset | Asset | Liability |
| Brent Crude December Futures  | 10/2026 | 183 | 183 | $11020 | 11020 | $(305) | (305) | $0 | 0 | $(101) |
| Brent Crude March Futures  | 01/2026 | 392 | 392 | 23853 | 23853 | (615) | (615) | 0 | 0 | (188) |
| California Carbon Allowance Vintage December Futures  | 12/2026 | 2683 | 2683 | 88271 | 88271 | 3376 | 3376 | 402 | 402 | 0 |
| Carbon Emissions December Futures  | 12/2026 | 157 | 157 | 16120 | 16120 | 691 | 691 | 17 | 17 | (33) |
| Euro-Bobl March Futures  | 03/2026 | 103 | 103 | 14061 | 14061 | (101) | (101) | 0 | 0 | (10) |
| Euro-BTP Future March Futures  | 03/2026 | 223 | 223 | 31496 | 31496 | (118) | (118) | 0 | 0 | (94) |
| Euro-Schatz March Futures  | 03/2026 | 497 | 497 | 62373 | 62373 | (87) | (87) | 0 | 0 | (6) |
| Hard Red Winter Wheat March Futures  | 03/2026 | 586 | 586 | 15082 | 15082 | (652) | (652) | 0 | 0 | (210) |
| Hard Red Winter Wheat May Futures  | 05/2026 | 30 | 30 | 792 | 792 | (14) | (14) | 0 | 0 | (11) |
| Iron Ore March Futures  | 03/2026 | 2492 | 2492 | 26116 | 26116 | 1259 | 1259 | 0 | 0 | (32) |
| Natural Gas March Futures  | 02/2026 | 4 | 4 | 125 | 125 | (31) | (31) | 0 | 0 | (9) |
| RBOB Gasoline June Futures  | 05/2026 | 29 | 29 | 2385 | 2385 | (84) | (84) | 0 | 0 | (21) |
| Silver December Futures  | 12/2026 | 31 | 31 | 11291 | 11291 | 739 | 739 | 0 | 0 | (1146) |
| U.S. Treasury 10-Year Note March Futures  | 03/2026 | 1150 | 1150 | 129303 | 129303 | (120) | (120) | 0 | 0 | (234) |
| U.S. Treasury Long-Term Bond March Futures  | 03/2026 | 319 | 319 | 36874 | 36874 | (368) | (368) | 0 | 0 | (70) |
| U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 181 | 181 | 21358 | 21358 | (266) | (266) | 0 | 0 | (68) |
| WTI Crude March Futures  | 02/2026 | 11 | 11 | 629 | 629 | (5) | (5) | 0 | 0 | (5) |
|  |  |  |  |  |  | 3299 | $ | 419 | 419 | (2238) |
| **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> |
| Description | 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) | Asset | Asset | Liability |
| Brent Crude June Futures  | 04/2026 | 130 | 130 | $(7833) | (7833) | $229 | 229 | $73 | 73 | $0 |
| Euro-Bund March Futures  | 03/2026 | 158 | 158 | (23687) | (23687) | 2 | 2 | 2 | 2 | 0 |
| Euro-Buxl 30-Year Bond March Futures  | 03/2026 | 5 | 5 | (647) | (647) | 10 | 10 | 2 | 2 | 0 |
| Euro-Oat March Futures  | 03/2026 | 564 | 564 | (79929) | (79929) | 815 | 815 | 192 | 192 | 0 |
| Gas Oil June Futures  | 06/2026 | 70 | 70 | (4211) | (4211) | (60) | (60) | 18 | 18 | 0 |
| Gas Oil March Futures  | 03/2026 | 183 | 183 | (11268) | (11268) | 470 | 470 | 87 | 87 | 0 |
| Gold 100 oz. February Futures  | 02/2026 | 266 | 266 | (115473) | (115473) | (4951) | (4951) | 1202 | 1202 | 0 |
| Japan Government 10-Year Bond March Futures  | 03/2026 | 16 | 16 | (13525) | (13525) | 92 | 92 | 30 | 30 | 0 |
| New York Harbor June Futures  | 05/2026 | 29 | 29 | (2478) | (2478) | 138 | 138 | 29 | 29 | 0 |
| New York Harbor March Futures  | 02/2026 | 157 | 157 | (13870) | (13870) | 1467 | 1467 | 208 | 208 | 0 |
| RBOB Gasoline March Futures  | 02/2026 | 41 | 41 | (2999) | (2999) | (2) | (2) | 27 | 27 | 0 |
| Silver March Futures  | 03/2026 | 68 | 68 | (24005) | (24005) | (6068) | (6068) | 2487 | 2487 | 0 |
| U.S. Treasury 2-Year Note March Futures  | 03/2026 | 125 | 125 | (26099) | (26099) | (25) | (25) | 9 | 9 | 0 |
| U.S. Treasury 5-Year Note March Futures  | 03/2026 | 2136 | 2136 | (233475) | (233475) | 342 | 342 | 250 | 250 | 0 |
| U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 592 | 592 | (68089) | (68089) | 317 | 317 | 111 | 111 | 0 |
| Wheat March Futures  | 03/2026 | 585 | 585 | (14830) | (14830) | 1221 | 1221 | 109 | 109 | 0 |
| Wheat May Futures  | 05/2026 | 30 | 30 | (778) | (778) | 47 | 47 | 5 | 5 | 0 |
|  |  |  |  |  |  | (5956) | $ | 4841 | 4841 | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **(2657)** | **$** | **5260** | **5260** | **(2238)** |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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:** |
| **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>(2)</sup> | <u>Variation Margin</u><sup>(2)</sup> | <u>Variation Margin</u><sup>(2)</sup> |
| Pay/<br>Receive<br>Floating Rate | Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
| Pay | Pay | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 3.750% | Annual | 09/17/2030 | 74800 | (363) | 778 | 415 | 84 | $0 |
| Pay<sup>(1)</sup> | Pay<sup>(1)</sup> | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 3.750 | Annual | 03/18/2031 | 35300 | 153 | 33 | 186 | 44 | 0 |
| Receive | Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1-Day JPY-MUTKCALM Compounded-OIS | 0.550 | Annual | 09/14/2028 | 2480000 | (65) | 366 | 301 | 14 | 0 |
| Receive | Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1-Day JPY-MUTKCALM Compounded-OIS | 0.500 | Annual | 12/15/2031 | 2165000 | 275 | 572 | 847 | 25 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.900 | Annual | 03/22/2026 | 1670 | 0 | (5) | (5) | 0 | 0 |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.640 | Annual | 08/15/2035 | 5700 | 11 | 47 | 58 | 13 | 0 |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 08/15/2035 | 5700 | (5) | 36 | 31 | 13 | 0 |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/15/2035 | 9688 | 25 | 17 | 42 | 22 | 0 |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.010 | Annual | 11/15/2053 | 25900 | 362 | 362 | 724 | 88 | 0 |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.075 | Annual | 11/15/2053 | 23396 | 174 | 231 | 405 | 80 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 2.865 | Annual | 02/13/2054 | 34900 | 4216 | 3851 | 8067 | 103 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/20/2054 | 29800 | 1620 | 1900 | 3520 | 96 | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.465 | Annual | 12/08/2027 | 35300 | (458) | 293 | (165) | 4 | 0 |
| Pay<sup>(1)</sup> | Pay<sup>(1)</sup> | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.750 | Annual | 03/18/2036 | 114680 | (71) | (2353) | (2424) | 0 | (158) |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 3.000 | Annual | 03/18/2056 | 37510 | (535) | 2772 | 2237 | 125 | 0 |
| Receive | Receive | CPTFEMU | CPTFEMU | 2.000 | Maturity | 02/15/2027 | 8400 | (1) | (32) | (33) | 0 | (1) |
| Receive | Receive | CPTFEMU | CPTFEMU | 1.636 | Maturity | 06/15/2027 | 25200 | 0 | 43 | 43 | 0 | (4) |
| Receive | Receive | CPTFEMU | CPTFEMU | 2.359 | Maturity | 08/15/2030 | 3900 | 106 | (80) | 26 | 0 | (3) |
| Receive | Receive | CPTFEMU | CPTFEMU | 2.049 | Maturity | 08/15/2034 | 3240 | 0 | (58) | (58) | 0 | (3) |
| Receive | Receive | CPTFEMU | CPTFEMU | 2.034 | Maturity | 09/15/2034 | 13100 | (53) | (154) | (207) | 0 | (9) |
| Pay | Pay | CPTFEMU | CPTFEMU | 2.580 | Maturity | 03/15/2052 | 500 | (33) | 61 | 28 | 1 | 0 |
| Pay | Pay | CPTFEMU | CPTFEMU | 2.590 | Maturity | 03/15/2052 | 1900 | (119) | 232 | 113 | 6 | 0 |
| Pay | Pay | CPTFEMU | CPTFEMU | 2.550 | Maturity | 04/15/2052 | 1500 | (95) | 179 | 84 | 4 | 0 |
| Pay | Pay | CPTFEMU | CPTFEMU | 2.700 | Maturity | 04/15/2053 | 4600 | 246 | 496 | 742 | 11 | 0 |
| Pay | Pay | CPTFEMU | CPTFEMU | 2.763 | Maturity | 09/15/2053 | 3300 | 247 | 356 | 603 | 7 | 0 |
| Pay | Pay | CPTFEMU | CPTFEMU | 2.682 | Maturity | 10/15/2053 | 1500 | 73 | 161 | 234 | 3 | 0 |
| Pay | Pay | CPTFEMU | CPTFEMU | 2.736 | Maturity | 10/15/2053 | 2400 | 161 | 255 | 416 | 5 | 0 |
| Pay | Pay | CPURNSA | CPURNSA | 2.700 | Maturity | 01/14/2026 | 7000 | 0 | (19) | (19) | 0 | (6) |
| Pay | Pay | CPURNSA | CPURNSA | 2.702 | Maturity | 01/14/2026 | 8600 | 0 | (23) | (23) | 0 | (7) |
| Receive | Receive | CPURNSA | CPURNSA | 2.418 | Maturity | 03/05/2026 | 4400 | 414 | 100 | 514 | 0 | 0 |
| Receive | Receive | CPURNSA | CPURNSA | 2.813 | Maturity | 05/14/2026 | 3300 | 231 | 74 | 305 | 0 | 0 |
| Receive | Receive | CPURNSA | CPURNSA | 2.703 | Maturity | 05/25/2026 | 2240 | 167 | 51 | 218 | 0 | 0 |
| Receive | Receive | CPURNSA | CPURNSA | 2.690 | Maturity | 06/01/2026 | 4100 | 304 | 95 | 399 | 0 | 0 |
| Pay | Pay | CPURNSA | CPURNSA | 3.435 | Maturity | 08/01/2026 | 8500 | 0 | 49 | 49 | 1 | 0 |
| Receive | Receive | CPURNSA | CPURNSA | 2.573 | Maturity | 08/26/2028 | 4900 | 277 | 100 | 377 | 3 | 0 |
| Receive | Receive | CPURNSA | CPURNSA | 2.645 | Maturity | 09/10/2028 | 3100 | 152 | 61 | 213 | 2 | 0 |
| Pay | Pay | CPURNSA | CPURNSA | 2.006 | Maturity | 11/30/2030 | 8200 | (1072) | (195) | (1267) | 0 | (12) |
| Receive | Receive | UKRPI | UKRPI | 3.365 | Maturity | 09/15/2027 | 8800 | 0 | (120) | (120) | 0 | (3) |
| Pay | Pay | UKRPI | UKRPI | 3.500 | Maturity | 08/15/2034 | 10100 | 57 | 453 | 510 | 10 | 0 |
| Pay | Pay | UKRPI | UKRPI | 3.466 | Maturity | 09/15/2034 | 4200 | 0 | 189 | 189 | 0 | (1) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **$** | **11174** | **$** | **$** | **(207)** |
| **(k)** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $25,265 and cash of $25,511 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <sup>(1)</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. |
| <sup>(2)</sup> | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. | Unsettled variation margin asset of $276 and liability of $(436) for closed futures is outstanding at period end. |
| **(l)** | **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** |
| **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:** | **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> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Delivered | Currency to<br>be Received | Currency to<br>be Received | Asset | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | 01/2026  | 01/2026  | 01/2026  | $1466 | 1466 | 227924 | 227924 | 0 | (10) | (10) |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | 01/2026  | 2739 | $30 | 0 | 0 |
|  | 01/2026  | 160200 | 1037 | 13 | 0 |
|  | 01/2026  | 836984 | 575 | 0 | (5) |
|  | 01/2026  | 3627 | 992 | 0 | (18) |
|  | 01/2026  | 10389 | 321 | 0 | (9) |
|  | 01/2026  | 46392 | 1521 | 44 | 0 |
|  | 01/2026  | $1172 | 995 | 0 | (2) |
|  | 01/2026  | 2168 | 7931 | 41 | 0 |
|  | 01/2026  | 211 | 6642 | 1 | 0 |
|  | 01/2026  | 820 | 13669 | 4 | 0 |
|  | 02/2026  | 3352 | $1052 | 0 | (1) |
|  | 04/2026  | $285 | 5258 | 4 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | 01/2026  | 8325 | $5411 | 0 | (145) |
|  | 01/2026  | 379 | 481 | 2 | 0 |
|  | 01/2026  | 28788 | 4085 | 0 | (46) |
|  | 01/2026  | 1152 | 1558 | 5 | 0 |
|  | 01/2026  | 5507 | 1693 | 0 | (36) |
|  | 01/2026  | 88350 | 980 | 0 | (2) |
|  | 01/2026  | 375800 | 2432 | 31 | 0 |
|  | 01/2026  | 5418 | 3079 | 0 | (42) |
|  | 01/2026  | 8367 | 2293 | 0 | (38) |
|  | 01/2026  | 158438 | 5212 | 168 | 0 |
|  | 01/2026  | $4337 | 30382 | 19 | 0 |
|  | 01/2026  | 94 | 1575992 | 0 | 0 |
|  | 01/2026  | 3251 | 289933 | 1 | (34) |
|  | 01/2026  | 2904 | 10532 | 30 | 0 |
|  | 01/2026  | 7551 | 237101 | 13 | (14) |
|  | 01/2026  | 1802 | 30047 | 10 | 0 |
|  | 01/2026  | 12614 | $754 | 0 | (7) |
|  | 02/2026  | $1026 | 92456 | 0 | 0 |
|  | 02/2026  | 2585 | 81128 | 0 | (5) |
|  | 03/2026  | 35469 | $1142 | 15 | 0 |
|  | 04/2026  | 29800 | 5216 | 0 | (110) |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | 01/2026  | 59244 | 9194 | 0 | (133) |
|  | 01/2026  | 1450 | 452 | 0 | (3) |
|  | 01/2026  | $389 | 1417 | 6 | 0 |
|  | 01/2026  | 10 | 173 | 1 | 0 |
|  | 02/2026  | 1442 | $448 | 0 | (5) |
|  | 03/2026  | $2421 | 44837 | 51 | 0 |
|  | 03/2026  | 8750 | 402561 | 76 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | 01/2026  | 8880 | $1614 | 0 | (7) |
|  | 01/2026  | 1166870 | 7497 | 42 | 0 |
|  | 01/2026  | $1599 | 8880 | 21 | 0 |
|  | 02/2026  | 8946 | $1599 | 0 | (21) |
|  | 02/2026  | 1106 | 316 | 0 | (12) |
|  | 04/2026  | 56500 | 9948 | 9 | (160) |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 8925 | 1633 | 4 | 0 |
|  | 01/2026  | 893 | 1041 | 0 | (9) |
|  | 01/2026  | 1905 | 1100 | 2 | 0 |
|  | 01/2026  | 23 | 6 | 0 | 0 |
|  | 01/2026  | 243204 | 8003 | 260 | 0 |
|  | 01/2026  | $1133 | 1709 | 7 | 0 |
|  | 01/2026  | 1622 | 8925 | 7 | 0 |
|  | 01/2026  | 107 | 151 | 3 | 0 |
|  | 01/2026  | 2826 | 19727 | 5 | 0 |
|  | 01/2026  | 1818 | 1549 | 3 | 0 |
|  | 01/2026  | 211 | 674 | 1 | 0 |
|  | 01/2026  | 15207 | 1359486 | 13 | (131) |
|  | 01/2026  | 310 | 1113 | 0 | 0 |
|  | 01/2026  | 0 | 14 | 0 | 0 |
|  | 01/2026  | 2061 | 64442 | 1 | (11) |
|  | 01/2026  | 304 | 5164 | 8 | 0 |
|  | 02/2026  | 2660 | $837 | 2 | 0 |
|  | 02/2026  | $65 | 2024 | 0 | 0 |
|  | 03/2026  | 38550 | $1239 | 13 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | 01/2026  | 2412 | 750 | 0 | (8) |
|  | 01/2026  | 1782904 | 1218 | 0 | (19) |
|  | 01/2026  | 1492 | 863 | 3 | 0 |
|  | 01/2026  | $1383 | 4411 | 3 | 0 |
|  | 01/2026  | 4451 | 396355 | 0 | (51) |
|  | 01/2026  | 4354 | 6398084 | 83 | 0 |
|  | 01/2026  | 767 | 12899 | 11 | 0 |
|  | 02/2026  | 4410 | $1383 | 0 | (2) |
|  | 02/2026  | $87 | 2732 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | 01/2026  | 16967 | $11020 | 0 | (303) |
|  | 01/2026  | 417 | 520 | 0 | (7) |
|  | 01/2026  | 14350 | 2039 | 0 | (20) |
|  | 01/2026  | 4646 | 2662 | 0 | (14) |
|  | 01/2026  | $732 | 2347 | 5 | 0 |
|  | 01/2026  | 7285 | 135125 | 202 | 0 |
|  | 01/2026  | 3289 | 12026 | 61 | 0 |
|  | 01/2026  | 778 | 13066 | 10 | 0 |
|  | 02/2026  | 2346 | $732 | 0 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | 01/2026  | 1139 | 352 | 0 | (5) |
|  | 01/2026  | $715 | 573 | 9 | 0 |
|  | 01/2026  | 2035 | 14347 | 23 | 0 |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | 01/2026  | 01/2026  | 2371 | 2371 | PLN | 8662 |  | 42 | 42 |  | 0 |
|  |  | 01/2026  | 01/2026  | 504 | 504 | THB | 16043 |  | 6 | 6 |  | 0 |
|  |  | 01/2026  | 01/2026  | 9 | 9 | ZAR | 159 |  | 0 | 0 |  | 0 |
|  |  | 02/2026  | 02/2026  | 20310 | 20310 | BRL | 111902 |  | 0 | 0 |  | (43) |
|  |  | 02/2026  | 02/2026  | 1494 | 1494 | MXN | 27713 |  | 37 | 37 |  | 0 |
|  |  | 03/2026  | 03/2026  | 127 | 127 | $ | 23 |  | 0 | 0 |  | 0 |
|  |  | 03/2026  | 03/2026  | $4216 | 4216 | BRL | 23358 |  | 0 | 0 |  | (8) |
|  |  | 03/2026  | 03/2026  | 1141 | 1141 | MXN | 21169 |  | 28 | 28 |  | 0 |
|  |  | 04/2026  | 04/2026  | 152500 | 152500 | $ | 26648 |  | 56 | 56 |  | (666) |
|  |  | 04/2026  | 04/2026  | $2401 | 2401 | MXN | 44268 |  | 34 | 34 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | 01/2026  | 01/2026  | 59735 | 59735 | $ | 8482 |  | 0 | 0 |  | (90) |
|  |  | 01/2026  | 01/2026  | 15600 | 15600 |  | 4794 |  | 0 | 0 |  | (105) |
|  |  | 01/2026  | 01/2026  | 72495 | 72495 |  | 814 |  | 10 | 10 |  | 0 |
|  |  | 01/2026  | 01/2026  | 947604 | 947604 |  | 660 |  | 3 | 3 |  | 0 |
|  |  | 01/2026  | 01/2026  | 466 | 466 |  | 25 |  | 0 | 0 |  | (1) |
|  |  | 01/2026  | 01/2026  | 533 | 533 |  | 52 |  | 0 | 0 |  | (1) |
|  |  | 01/2026  | 01/2026  | 2727 | 2727 |  | 1582 |  | 12 | 12 |  | 0 |
|  |  | 01/2026  | 01/2026  | 8623 | 8623 |  | 2353 |  | 0 | 0 |  | (49) |
|  |  | 01/2026  | 01/2026  | $2543 | 2543 | CNH | 17866 |  | 20 | 20 |  | 0 |
|  |  | 01/2026  | 01/2026  | 1783 | 1783 | INR | 158824 |  | 0 | 0 |  | (21) |
|  |  | 01/2026  | 01/2026  | 2489 | 2489 | PLN | 9170 |  | 65 | 65 |  | 0 |
|  |  | 02/2026  | 02/2026  | 660 | 660 | KRW | 946360 |  | 0 | 0 |  | (4) |
|  |  | 02/2026  | 02/2026  | 2590 | 2590 | MXN | 48020 |  | 64 | 64 |  | 0 |
|  |  | 03/2026  | 03/2026  | 1556 | 1556 |  | 28524 |  | 18 | 18 |  | 0 |
|  |  | 04/2026  | 04/2026  | 57300 | 57300 | $ | 9668 |  | 0 | 0 |  | (573) |
|  |  | 04/2026  | 04/2026  | $895 | 895 | MXN | 16499 |  | 12 | 12 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 01/2026  | 24842 | 24842 | $ | 17651 |  | 0 | 0 |  | (459) |
|  |  | 01/2026  | 01/2026  | 2359 | 2359 |  | 2954 |  | 0 | 0 |  | (27) |
|  |  | 01/2026  | 01/2026  | 641126 | 641126 |  | 4124 |  | 28 | 28 |  | 0 |
|  |  | 01/2026  | 01/2026  | 1900 | 1900 |  | 1098 |  | 4 | 4 |  | 0 |
|  |  | 01/2026  | 01/2026  | 32023 | 32023 |  | 24680 |  | 0 | 0 |  | (248) |
|  |  | 01/2026  | 01/2026  | 5154 | 5154 |  | 159 |  | 0 | 0 |  | (5) |
|  |  | 01/2026  | 01/2026  | $1161 | 1161 | EUR | 996 |  | 11 | 11 |  | (1) |
|  |  | 01/2026  | 01/2026  | 320 | 320 | INR | 28942 |  | 2 | 2 |  | 0 |
|  |  | 01/2026  | 01/2026  | 3446 | 3446 | PLN | 12573 |  | 56 | 56 |  | 0 |
|  |  | 01/2026  | 01/2026  | 325 | 325 | TWD | 10244 |  | 2 | 2 |  | 0 |
|  |  | 02/2026  | 02/2026  | 687 | 687 | MXN | 12716 |  | 16 | 16 |  | 0 |
|  |  | 03/2026  | 03/2026  | 649 | 649 |  | 11941 |  | 10 | 10 |  | 0 |
|  |  | 04/2026  | 04/2026  | 715 | 715 |  | 13189 |  | 11 | 11 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | 01/2026  | 01/2026  | 5 | 5 | $ | 1 |  | 0 | 0 |  | 0 |
|  |  | 01/2026  | 01/2026  | $8 | 8 | JPY | 1260 |  | 0 | 0 |  | 0 |
|  |  | 02/2026  | 02/2026  | 5280 | 5280 | $ | 1640 |  | 0 | 0 |  | (18) |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 01/2026  | 01/2026  | 418 | 418 |  | 521 |  | 0 | 0 |  | (7) |
|  |  | 01/2026  | 01/2026  | 28612 | 28612 |  | 4061 |  | 0 | 0 |  | (45) |
|  |  | 01/2026  | 01/2026  | 13649 | 13649 |  | 150 |  | 0 | 0 |  | (2) |
|  |  | 01/2026  | 01/2026  | 1106331 | 1106331 |  | 7110 |  | 42 | 42 |  | 0 |
|  |  | 01/2026  | 01/2026  | 50296 | 50296 |  | 1651 |  | 50 | 50 |  | 0 |
|  |  | 01/2026  | 01/2026  | $157 | 157 | IDR | 2621391 |  | 0 | 0 |  | 0 |
|  |  | 01/2026  | 01/2026  | 246 | 246 | INR | 22246 |  | 1 | 1 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | 01/2026  | 01/2026  | 53145 | 53145 | $ | 61529 |  | 0 | 0 |  | (953) |
|  |  | 01/2026  | 01/2026  | 3386094 | 3386094 |  | 21650 |  | 17 | 17 |  | 0 |
|  |  | 01/2026  | 01/2026  | 2831121 | 2831121 |  | 1935 |  | 0 | 0 |  | (28) |
|  |  | 01/2026  | 01/2026  | $10779 | 10779 | GBP | 8230 |  | 315 | 315 |  | 0 |
|  |  | 02/2026  | 02/2026  | 688 | 688 | MXN | 12723 |  | 16 | 16 |  | 0 |
|  |  | 03/2026  | 03/2026  | 49 | 49 | $ | 3 |  | 0 | 0 |  | 0 |
|  |  | 03/2026  | 03/2026  | $968 | 968 | MXN | 18142 |  | 32 | 32 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | 01/2026  | 01/2026  | 128445 | 128445 | $ | 4156 |  | 67 | 67 |  | 0 |
|  |  | 01/2026  | 01/2026  | $2731 | 2731 | PLN | 9901 |  | 27 | 27 |  | 0 |
|  |  | 01/2026  | 01/2026  | 17 | 17 | ZAR | 303 |  | 1 | 1 |  | 0 |
|  |  | 02/2026  | 02/2026  | 641 | 641 | MXN | 11899 |  | 16 | 16 |  | 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** | $**2477** | **2477** | **$** | $**(4804)** | **(4804)** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Description | Description | Floating Rate<br>Index | Floating Rate<br>Index | Exercise<br>Rate | Exercise<br>Rate | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) |  | Market<br>Value |
| BRC | Call - OTC 2-Year Interest Rate Swap  | Call - OTC 2-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.440% | 2.440% | 7500 | 7500 | 7500 | (67) | $ | $(30) |
|  | Put - OTC 2-Year Interest Rate Swap  | Put - OTC 2-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.440 | 2.440 | 7500 | 7500 | 7500 | (67) |  | (41) |
| GLM | Call - OTC 2-Year Interest Rate Swap  | Call - OTC 2-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.350 | 2.350 | 22700 | 22700 | 22700 | (206) |  | (76) |
|  | Put - OTC 2-Year Interest Rate Swap  | Put - OTC 2-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.350 | 2.350 | 22700 | 22700 | 22700 | (206) |  | (149) |
|  | Call - OTC 2-Year Interest Rate Swap  | Call - OTC 2-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.500 | 2.500 | 42700 | 42700 | 42700 | (391) |  | (209) |
|  | Put - OTC 2-Year Interest Rate Swap  | Put - OTC 2-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.500 | 2.500 | 42700 | 42700 | 42700 | (391) |  | (207) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **(1328)** | **$** | $**(712)** |

---

------

<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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:** |
| **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** | **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> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Pay/Receive<sup>(2)</sup> | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) |  | Asset |  | Liability |
| &nbsp;&nbsp; BOA | &nbsp;&nbsp; BOA | MLPIREIL Index  | MLPIREIL Index  | 1066342 | &nbsp;&nbsp; 4.290% (FEDL01 plus a specified spread) | &nbsp;&nbsp; 4.290% (FEDL01 plus a specified spread) | Monthly | 06/10/2026 | $102156 | 0 | $ | (109) | $ | 0 | $ | (109) |
|  |  | MLPIREIS Index  | MLPIREIS Index  | 987580 | &nbsp;&nbsp; 4.140% (FEDL01 plus a specified spread) | &nbsp;&nbsp; 4.140% (FEDL01 plus a specified spread) | Monthly | 06/10/2026 | 93553 | 0 |  | 107 |  | 107 |  | 0 |
| &nbsp;&nbsp; BPS | &nbsp;&nbsp; BPS | BCOMF1NTC Index  | BCOMF1NTC Index  | 50338 | 0.12 | 0.12 | Monthly | 03/16/2026 | 6416 | 0 |  | (2) |  | 0 |  | (2) |
| &nbsp;&nbsp; CBK | &nbsp;&nbsp; CBK | DWRTFT Index  | DWRTFT Index  | 10234 | &nbsp;&nbsp; 4.190% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.190% (SOFR plus a specified spread) | Monthly | 05/06/2026 | 144065 | 0 |  | (560) |  | 0 |  | (560) |
|  |  | DWRTFT Index  | DWRTFT Index  | 7350 | &nbsp;&nbsp; 4.220% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.220% (SOFR plus a specified spread) | Monthly | 07/15/2026 | 103465 | 0 |  | (406) |  | 0 |  | (406) |
|  |  | DWRTFT Index  | DWRTFT Index  | 7685 | &nbsp;&nbsp; 4.250% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.250% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 108180 | 0 |  | (427) |  | 0 |  | (427) |
|  |  | DWRTFT Index  | DWRTFT Index  | 9844 | &nbsp;&nbsp; 4.350% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.350% (SOFR plus a specified spread) | Monthly | 11/04/2026 | 138572 | 0 |  | (560) |  | 0 |  | (560) |
|  |  | DWRTFT Index  | DWRTFT Index  | 3179 | &nbsp;&nbsp; 4.390% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.390% (SOFR plus a specified spread) | Monthly | 11/04/2026 | 44750 | 0 |  | (182) |  | 0 |  | (182) |
| &nbsp;&nbsp; CIB | &nbsp;&nbsp; CIB | PIMCODB Index  | PIMCODB Index  | 1079763 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 | Monthly | 06/15/2026 | 232141 | 0 |  | 1526 |  | 1526 |  | 0 |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BCOMF1NTC Index  | BCOMF1NTC Index  | 14108 | &nbsp;&nbsp; 3.740% (3-Month U.S. Treasury Bill rate plus a specified spread) | &nbsp;&nbsp; 3.740% (3-Month U.S. Treasury Bill rate plus a specified spread) | Monthly | 04/15/2026 | 5156 | 0 |  | (6) |  | 0 |  | (6) |
|  |  | PIMCODB Index  | PIMCODB Index  | 1470055 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 | Monthly | 04/15/2026 | 164008 | 0 |  | 1046 |  | 1046 |  | 0 |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | AMZX Index  | AMZX Index  | 8513 | &nbsp;&nbsp; 4.050% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.050% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 21929 | 0 |  | (82) |  | 0 |  | (82) |
|  |  | JMABNIC5 Index  | JMABNIC5 Index  | 913557 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 | Monthly | 07/15/2026 | 180991 | 0 |  | 2495 |  | 2495 |  | 0 |
|  |  | AMZX Index  | AMZX Index  | 29720 | &nbsp;&nbsp; 4.120% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.120% (SOFR plus a specified spread) | Monthly | 11/04/2026 | 76557 | 0 |  | (291) |  | 0 |  | (291) |
|  |  | Alerian Midstream Energy Total Return Index  | Alerian Midstream Energy Total Return Index  | 82744 | &nbsp;&nbsp; 4.480% (SOFR less a specified spread) | &nbsp;&nbsp; 4.480% (SOFR less a specified spread) | Monthly | 12/09/2026 | 99241 | 0 |  | (364) |  | 0 |  | (364) |
| &nbsp;&nbsp; MAC | &nbsp;&nbsp; MAC | PIMCODB Index  | PIMCODB Index  | 597158 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 | Monthly | 08/17/2026 | 122913 | 0 |  | 873 |  | 873 |  | 0 |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | DWRTFT Index  | DWRTFT Index  | 2827 | &nbsp;&nbsp; 4.150% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.150% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 39795 | 0 |  | (153) |  | 0 |  | (153) |
|  |  | DWRTFT Index  | DWRTFT Index  | 827 | &nbsp;&nbsp; 4.3X% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.3X% (SOFR plus a specified spread) | Monthly | 11/04/2026 | 11642 | 0 |  | (15) |  | 0 |  | (15) |
|  |  |  |  |  |  |  |  |  |  | 0 | $ | 2890 | $ | 6047 | $ | (3157) |
| **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** | **VOLATILITY SWAPS** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Pay/Receive<br>Volatility | Reference Entity | Reference Entity | Volatility<br>Strike | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| &nbsp;&nbsp; CBK | &nbsp;&nbsp; CBK | Pay | GOLDLNPM Index<sup>(3)</sup>  | GOLDLNPM Index<sup>(3)</sup>  | 4.951% | Maturity | 11/15/2027 | 11/15/2027 | 22472 | $0 | 0 | $84 | 84 | $84 | 84 | $0 |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | Pay | GOLDLNPM Index<sup>(3)</sup>  | GOLDLNPM Index<sup>(3)</sup>  | 5.905 | Maturity | 01/19/2026 | 01/19/2026 | 2200 | 0 | 0 | 33 | 33 | 33 | 33 | 0 |
| &nbsp;&nbsp; MYC | &nbsp;&nbsp; MYC | Pay | GOLDLNPM Index<sup>(3)</sup>  | GOLDLNPM Index<sup>(3)</sup>  | 4.431 | Maturity | 10/18/2027 | 10/18/2027 | 4790 | 0 | 0 | (4) | (4) | 0 | 0 | (4) |
|  |  |  |  |  |  |  |  |  |  | $0 | 0 | $113 | 113 | $117 | 117 | $(4) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **0** | **$** | **3003** | **$** | **6164** | **$** | **(3161)** |
| **(m)** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $16,669 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| <sup>(2)</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. | 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. |
| <sup>(3)</sup> | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap | Variance Swap |
| **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** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |

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<br> Consolidated Schedule of Investments PIMCO All Asset: Multi-Real Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | |
|:---|:---|:---|:---|:---|
| **The following is a summary of the fair valuations according to the inputs used as of December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 2025 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 12/31/2025 |
| **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** |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | $0 | $10133 | $0 | $10133 |
| Industrials | 0 | 9344 | 0 | 9344 |
| Utilities | 0 | 326 | 0 | 326 |
| U.S. Government Agencies | 0 | 402698 | 0 | 402698 |
| U.S. Treasury Obligations | 0 | 2227203 | 0 | 2227203 |
| Non-Agency Mortgage-Backed Securities | 0 | 23051 | 17618 | 40669 |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| CMBS Other | 0 | 7972 | 0 | 7972 |
| Home Equity Other | 0 | 28052 | 0 | 28052 |
| Manufacturing House ABS Other | 0 | 718 | 0 | 718 |
| Whole Loan Collateral | 0 | 12386 | 0 | 12386 |
| Other ABS | 0 | 93399 | 0 | 93399 |
| Sovereign Issues | 0 | 105616 | 0 | 105616 |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Real Estate | 1001 | 0 | 0 | 1001 |
| Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |
| Banking & Finance | 0 | 225 | 0 | 225 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| Real Estate | 542573 | 0 | 0 | 542573 |
| Commodities | 0 | 129634 | 0 | 129634 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Repurchase Agreements | 0 | 193634 | 0 | 193634 |
| U.S. Treasury Bills | 0 | 21354 | 0 | 21354 |
|  | $543574 | $3265745 | $17618 | $3826937 |
| **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 | $2134 | $0 | $0 | $2134 |
| Total Investments | $545708 | $3265745 | $17618 | $3829071 |
| **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 | 4989 | 1134 | 0 | 6123 |
| Over the counter | 0 | 8641 | 0 | 8641 |
|  | $4989 | $9775 | $0 | $14764 |
| **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 | (8889) | (579) | 0 | (9468) |
| Over the counter | 0 | (8677) | 0 | (8677) |
|  | $(8889) | $(9256) | $0 | $(18145) |
| Total Financial Derivative Instruments | $(3900) | $519 | $0 | $(3381) |
| Totals | $541808 | $3266264 | $17618 | $3825690 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund December 31, 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)** |
|  | PRINCIPAL<br>AMOUNT<br>(000s) | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 178.5% ¤** |  |  |
| **CORPORATE BONDS & NOTES 3.9%**  |  |  |
| **BANKING & FINANCE 2.2%**  |  |  |
| **ARES Strategic Income Fund** <br>5.450% due 09/09/2028 | $500 | $504 |
| **Athene Global Funding** <br>5.033% due 07/17/2030 | 700 | 706 |
| **Bank of Nova Scotia** <br>5.450% due 08/01/2029 | 400 | 417 |
| **Barclays PLC** <br>6.224% due 05/09/2034 •  | 1000 | 1076 |
| **Credit Suisse AG AT1 Claim**  | 400 | 118 |
| **Ford Motor Credit Co. LLC**  |  |  |
| 5.800% due 03/05/2027  | 400 | 405 |
| 7.350% due 11/04/2027  | 200 | 209 |
| **GLP Capital LP/GLP Financing II, Inc.** <br>5.625% due 09/15/2034 | 100 | 101 |
| **Sumitomo Mitsui Financial Group, Inc.** <br>5.558% due 07/09/2034 | 200 | 211 |
| **VICI Properties LP** <br>4.750% due 02/15/2028 | 100 | 101 |
|  |  | 3848 |
| **INDUSTRIALS 0.9%**  |  |  |
| **Bayer U.S. Finance LLC** <br>6.500% due 11/21/2033 | 200 | 217 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 870 | 920 |
| **CVS Pass-Through Trust** <br>6.943% due 01/10/2030 | 43 | 44 |
| **Petroleos del Peru SA** <br>5.625% due 06/19/2047 | 300 | 191 |
| **Petroleos Mexicanos** <br>6.350% due 02/12/2048 | 100 | 78 |
| **United Airlines Pass-Through Trust** <br>5.450% due 08/15/2038 | 97 | 100 |
| **Viper Energy Partners LLC** <br>5.700% due 08/01/2035 | 100 | 102 |
|  |  | 1652 |
| **UTILITIES 0.8%**  |  |  |
| **Pacific Gas & Electric Co.**  |  |  |
| 4.500% due 07/01/2040  | 100 | 87 |
| 5.450% due 06/15/2027  | 100 | 102 |
| 6.150% due 03/01/2055  | 100 | 100 |
| 6.700% due 04/01/2053  | 500 | 528 |
| **Southern California Edison Co.**  |  |  |
| 4.650% due 10/01/2043  | 100 | 85 |
| 5.150% due 06/01/2029  | 400 | 409 |
|  |  | 1311 |
| Total Corporate Bonds & Notes (Cost $6,478) |  | 6811 |
| **MUNICIPAL BONDS & NOTES 0.2%**  |  |  |
| **WASHINGTON 0.2%**  |  |  |
| **Washington State Convention Center Public Facilities District Revenue Bonds, (BABs), Series 2010** <br>6.790% due 07/01/2040 | 320 | 344 |
| Total Municipal Bonds & Notes (Cost $338) |  | 344 |
| **U.S. GOVERNMENT AGENCIES 101.4%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 5.000% due 10/01/2053 | 439 | 439 |
| 5.500% due 04/01/2054 - 09/01/2055 | 2468 | 2526 |
| 6.000% due 10/01/2055 | 198 | 204 |
| 6.500% due 04/01/2055 (e) | 7830 | 8139 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates**<br>2.903% due 07/25/2054 ~ | 587 | 571 |

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | |
|:---|:---|:---|
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 4.478% due 03/15/2037 •  | 24 | 24 |
| 4.798% due 08/15/2037 •  | 57 | 57 |
| 4.808% due 10/15/2037 •  | 9 | 9 |
| 4.814% due 11/25/2054 •  | 649 | 652 |
| 4.818% due 05/15/2037 - 09/15/2037 •  | 61 | 62 |
| 4.824% due 09/25/2055 •  | 9383 | 9446 |
| 5.074% due 08/25/2055 •  | 2503 | 2515 |
| **Federal National Mortgage Association**  |  |  |
| 4.202% due 10/01/2029 ~(e) | 900 | 907 |
| 4.300% due 12/01/2029 | 601 | 606 |
| 4.705% due 09/01/2031 ~ | 1800 | 1838 |
| 4.720% due 10/01/2028 | 500 | 511 |
| 4.770% due 10/01/2028 | 600 | 613 |
| 4.930% due 06/01/2029 | 400 | 412 |
| 5.300% due 11/01/2030 (e) | 800 | 838 |
| 6.500% due 07/01/2026 - 12/01/2026 | 1 | 0 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 4.000% due 04/25/2041 | 350 | 340 |
| 4.339% due 07/25/2037 •  | 2 | 2 |
| 4.369% due 07/25/2037 •  | 5 | 4 |
| 4.389% due 09/25/2035 •  | 9 | 9 |
| 4.399% due 09/25/2035 •  | 18 | 18 |
| 4.709% due 06/25/2037 •  | 38 | 38 |
| **Federal National Mortgage Association Trust**<br>4.536% due 09/25/2042 •  | 2 | 2 |
| **Government National Mortgage Association**  |  |  |
| 4.500% due 06/20/2055 (e) | 2961 | 2886 |
| 5.000% due 01/20/2055 | 406 | 406 |
| **Government National Mortgage Association REMICS**  |  |  |
| 5.068% due 07/20/2055 •  | 1474 | 1483 |
| 5.168% due 07/20/2054 •  | 3465 | 3483 |
| **Government National Mortgage Association, TBA**  |  |  |
| 3.500% due 01/01/2056 | 6300 | 5734 |
| 4.000% due 01/01/2056 | 6700 | 6330 |
| 4.500% due 01/01/2056 | 2180 | 2124 |
| 5.000% due 01/01/2056 | 4910 | 4900 |
| 5.500% due 02/01/2056 | 2860 | 2886 |
| 6.000% due 01/01/2056 | 2820 | 2874 |
| **U.S. Small Business Administration**<br>4.430% due 05/01/2029 | 4 | 4 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 3.000% due 02/01/2056 | 820 | 725 |
| 4.000% due 02/01/2056 | 6310 | 5982 |
| 4.500% due 02/01/2056 | 7320 | 7140 |
| 5.000% due 02/01/2056 | 15670 | 15613 |
| 5.500% due 02/01/2056 | 9660 | 9787 |
| 6.000% due 02/01/2056 - 03/01/2056 | 34820 | 35738 |
| 6.500% due 02/01/2056 - 03/01/2056 | 38220 | 39749 |
| Total U.S. Government Agencies (Cost $178,132) |  | 178626 |
| **U.S. TREASURY OBLIGATIONS 3.1%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 4.625% due 05/15/2044 (g)(i) | 2700 | 2652 |
| 4.875% due 08/15/2045 (i) | 59 | 59 |
| **U.S. Treasury Notes**  |  |  |
| 0.500% due 10/31/2027 (i) | 300 | 284 |
| 0.625% due 12/31/2027 (i) | 100 | 95 |
| 3.875% due 07/31/2030 (i) | 2300 | 2317 |
| 4.250% due 08/15/2035 (i) | 96 | 97 |
| Total U.S. Treasury Obligations (Cost $5,541) |  | 5504 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 18.0%**  |  |  |
| **Ashford Hospitality Trust** <br>4.823% due 04/15/2035 •  | 230 | 230 |
| **Atrium Hotel Portfolio Trust** <br>5.548% due 12/15/2036 •  | 5000 | 4903 |
| **Banc of America Mortgage Trust**  |  |  |
| 5.597% due 07/25/2035 ~  | 12 | 12 |
| **Bear Stearns ALT-A Trust**  |  |  |
| 4.791% due 09/25/2035 ~  | 45 | 24 |
| 5.190% due 10/25/2035 ~  | 66 | 55 |
| **Bear Stearns ARM Trust**  |  |  |
| 5.507% due 11/25/2034 ~  | 2 | 1 |
| **BX Commercial Mortgage Trust** <br>4.740% due 01/17/2039 •  | 3000 | 2999 |
| **Chase Home Lending Mortgage Trust**  |  |  |
| 3.250% due 09/25/2063 ~  | 590 | 533 |
| 5.124% due 05/25/2055 •  | 299 | 300 |
| **Chase Mortgage Finance Trust**  |  |  |
| 4.380% due 12/25/2035 ~  | 2 | 2 |
| 4.461% due 09/25/2036 ~  | 14 | 12 |
| 6.000% due 12/25/2036  | 23 | 9 |

---

------

<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 4.796% due 11/25/2034 ~  | 15 | 15 |
| **CLNY Trust** <br>5.627% due 11/15/2038 •  | 2900 | 2830 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 4.226% due 09/25/2046 •  | 80 | 79 |
| 4.406% due 02/25/2037 •  | 28 | 24 |
| **Deutsche Alt-A Securities, Inc. Mortgage Loan Trust** <br>4.506% due 02/25/2036 •  | 211 | 211 |
| **Ellington Financial Mortgage Trust** <br>5.900% due 09/25/2067 þ | 3789 | 3796 |
| **GSR Mortgage Loan Trust**  |  |  |
| 4.467% due 11/25/2035 ~  | 24 | 20 |
| 6.000% due 02/25/2036  | 456 | 163 |
| 6.000% due 07/25/2037  | 109 | 68 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 4.186% due 12/19/2036 •  | 9 | 8 |
| 4.311% due 06/19/2036 ~  | 113 | 57 |
| 4.326% due 06/19/2035 •  | 48 | 48 |
| 4.326% due 12/19/2036 •  | 194 | 188 |
| **IndyMac INDX Mortgage Loan Trust**  |  |  |
| 4.068% due 06/25/2036 ~  | 189 | 168 |
| 4.206% due 02/25/2037 •  | 121 | 111 |
| **JP Morgan Alternative Loan Trust** <br>4.210% due 05/25/2036 ~ | 103 | 55 |
| **JP Morgan Chase Commercial Mortgage Securities Trust** <br>4.848% due 02/15/2035 •  | 847 | 840 |
| **JP Morgan Mortgage Trust**  |  |  |
| 4.263% due 10/25/2036 ~  | 48 | 34 |
| 4.321% due 10/25/2036 ~  | 6 | 3 |
| 4.625% due 07/25/2063 ~  | 828 | 820 |
| 5.250% due 11/25/2063 ~  | 665 | 668 |
| **Lehman Mortgage Trust** <br>6.000% due 09/25/2037 | 54 | 53 |
| **MASTR Adjustable Rate Mortgages Trust** <br>3.183% due 07/25/2035 ~ | 15 | 13 |
| **Merrill Lynch Alternative Note Asset Trust** <br>4.446% due 03/25/2037 •  | 159 | 37 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 4.882% due 09/25/2035 ~  | 41 | 32 |
| 5.840% due 05/25/2033 ~  | 1 | 1 |
| **MFA Trust** <br>5.750% due 11/25/2067 þ | 3381 | 3373 |
| **Mortgage Equity Conversion Asset Trust** <br>4.020% due 05/25/2042 •  | 57 | 53 |
| **New Orleans Hotel Trust** <br>4.787% due 04/15/2032 •  | 2300 | 2286 |
| **Nomura Asset Acceptance Corp. Alternative Loan Trust** <br>5.476% due 05/25/2035 þ | 4 | 2 |
| **OBX Trust** <br>6.120% due 11/25/2062 ~ | 1489 | 1485 |
| **PRKCM Trust** <br>6.584% due 09/25/2058 þ | 669 | 673 |
| **RALI Trust**  |  |  |
| 4.146% due 02/25/2037 •  | 93 | 83 |
| 4.186% due 01/25/2037 •  | 145 | 129 |
| 4.206% due 07/25/2036 •  | 408 | 130 |
| 4.216% due 08/25/2036 •  | 171 | 158 |
| 4.226% due 09/25/2036 •  | 236 | 222 |
| **Structured Adjustable Rate Mortgage Loan Trust**  |  |  |
| 5.429% due 01/25/2035 •  | 2 | 2 |
| 6.298% due 02/25/2034 ~  | 1 | 1 |
| **Thornburg Mortgage Securities Trust** <br>5.413% due 06/25/2047 •  | 33 | 29 |
| **Towd Point Mortgage Trust**  |  |  |
| 3.750% due 03/25/2058 ~  | 1185 | 1159 |
| 3.750% due 05/25/2058 ~  | 533 | 526 |
| 3.750% due 09/25/2062  | 941 | 908 |
| **Visio Trust** <br>6.598% due 10/25/2058 þ | 977 | 982 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 4.104% due 02/25/2037 ~  | 27 | 23 |
| **Wells Fargo Mortgage-Backed Securities Trust** <br>6.290% due 12/25/2036 ~ | 26 | 24 |
| Total Non-Agency Mortgage-Backed Securities (Cost $31,268) |  | 31670 |
| **ASSET-BACKED SECURITIES 19.3%**  |  |  |
| **AUTOMOBILE SEQUENTIAL 1.6%**  |  |  |
| **Carvana Auto Receivables Trust**  |  |  |
| 5.620% due 01/10/2029  | 203 | 204 |
| 5.710% due 07/10/2028  | 424 | 426 |
| **FHF Issuer Trust** <br>5.890% due 06/15/2030 | 243 | 244 |

---

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Foursight Capital Automobile Receivables Trust** <br>5.990% due 05/15/2028 | 56 | 56 |
| **GLS Auto Select Receivables Trust** <br>5.960% due 10/16/2028 | 430 | 433 |
| **Hertz Vehicle Financing III LLC** <br>5.440% due 01/25/2029 | 1000 | 1022 |
| **Research-Driven Pagaya Motor Asset Trust V** <br>5.320% due 09/25/2030 | 113 | 114 |
| **Santander Drive Auto Receivables Trust** <br>5.630% due 01/16/2029 | 276 | 277 |
|  |  | 2776 |
| **CMBS OTHER 1.4%**  |  |  |
| **MF1 LLC** <br>5.184% due 02/18/2043 •  | 600 | 602 |
| **Starwood Ltd.** <br>5.334% due 11/15/2038 •  | 809 | 810 |
| **TRTX Issuer Ltd.** <br>5.386% due 02/15/2039 •  | 1066 | 1064 |
|  |  | 2476 |
| **HOME EQUITY OTHER 3.1%**  |  |  |
| **ACE Securities Corp. Home Equity Loan Trust** <br>3.966% due 10/25/2036 •  | 1 | 1 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.166% due 12/25/2036 •  | 698 | 395 |
| 4.206% due 01/25/2037 •  | 876 | 654 |
| **Countrywide Asset-Backed Certificates Trust**  |  |  |
| 4.126% due 04/25/2047 •  | 74 | 73 |
| 4.386% due 03/25/2036 •  | 125 | 115 |
| **Fremont Home Loan Trust** <br>4.166% due 08/25/2036 •  | 1821 | 566 |
| **GSAMP Trust** <br>3.946% due 12/25/2046 •  | 259 | 130 |
| **Long Beach Mortgage Loan Trust**  |  |  |
| 4.146% due 05/25/2036 •  | 95 | 50 |
| 4.386% due 05/25/2046 •  | 649 | 194 |
| **MASTR Asset-Backed Securities Trust**  |  |  |
| 3.946% due 01/25/2037 •  | 2414 | 685 |
| 4.266% due 05/25/2037 •  | 403 | 393 |
| **Merrill Lynch Mortgage Investors Trust** <br>4.346% due 07/25/2037 •  | 367 | 76 |
| **Morgan Stanley ABS Capital I, Inc. Trust**  |  |  |
| 3.976% due 02/25/2037 •  | 814 | 492 |
| 3.981% due 11/25/2036 •  | 706 | 451 |
| 4.056% due 01/25/2037 •  | 380 | 176 |
| **Morgan Stanley Home Equity Loan Trust** <br>3.946% due 12/25/2036 •  | 391 | 188 |
| **Renaissance Home Equity Loan Trust** <br>5.586% due 11/25/2036 þ | 748 | 230 |
| **Securitized Asset-Backed Receivables LLC Trust** <br>4.326% due 07/25/2036 •  | 184 | 70 |
| **SG Mortgage Securities Trust** <br>4.126% due 10/25/2036 •  | 177 | 165 |
| **Soundview Home Loan Trust** <br>4.746% due 10/25/2037 •  | 520 | 410 |
|  |  | 5514 |
| **WHOLE LOAN COLLATERAL 0.2%**  |  |  |
| **First Franklin Mortgage Loan Trust** <br>4.166% due 04/25/2036 •  | 11 | 11 |
| **Securitized Asset-Backed Receivables LLC Trust**  |  |  |
| 4.006% due 08/25/2036 •  | 347 | 113 |
| 4.806% due 01/25/2036 •  | 183 | 172 |
|  |  | 296 |
| **OTHER ABS 13.0%**  |  |  |
| **AlbaCore EURO CLO I DAC** <br>3.084% due 10/18/2034 •  | 900 | 1059 |
| **Anchorage Credit Funding 14 Ltd.** <br>3.000% due 01/21/2040 | $300 | 288 |
| **ARES LXII CLO Ltd.** <br>4.928% due 01/25/2034 •  | 600 | 600 |
| **BHG Securitization Trust** <br>5.930% due 10/17/2035 | 481 | 482 |
| **BlueMountain CLO XXXIV Ltd.** <br>5.034% due 04/20/2035 •  | 500 | 500 |
| **Capital Four U.S. CLO II Ltd.** <br>5.784% due 01/20/2037 •  | 900 | 907 |
| **Cedar Funding VI CLO Ltd.** <br>4.974% due 04/20/2034 •  | 500 | 500 |

---

------

<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Contego CLO VIII DAC** <br>3.095% due 01/25/2034 •  | 2230 | 2624 |
| **CVC Cordatus Loan Fund XXIV DAC** <br>3.266% due 10/23/2034 •  | 384 | 452 |
| **Diameter Capital CLO 6 Ltd.** <br>5.515% due 04/15/2037 •  | $1000 | 1005 |
| **Euro-Galaxy V CLO DAC** <br>3.014% due 02/15/2034 •  | 2498 | 2939 |
| **Hayfin Emerald CLO VI DAC** <br>3.259% due 10/15/2038 •  | 500 | 588 |
| **Massachusetts Educational Financing Authority** <br>5.525% due 04/25/2038 •  | $8 | 8 |
| **Navient Private Education Loan Trust** <br>5.315% due 07/16/2040 •  | 854 | 856 |
| **Nelnet Student Loan Trust**  |  |  |
| 4.588% due 04/20/2062 •  | 718 | 717 |
| 6.118% due 02/20/2041 •  | 162 | 166 |
| 6.640% due 02/20/2041  | 162 | 169 |
| **Neuberger Berman Loan Advisers Lasalle Street Lending CLO I Ltd.** <br>5.140% due 10/25/2036 •  | 1000 | 1001 |
| **Northwoods Capital XIV-B Ltd.** <br>5.091% due 11/13/2031 •  | 538 | 538 |
| **Octagon Investment Partners 39 Ltd.** <br>5.034% due 10/20/2030 •  | 154 | 155 |
| **SLM Private Education Loan Trust** <br>8.615% due 10/15/2041 •  | 1613 | 1697 |
| **SMB Private Education Loan Trust**  |  |  |
| 1.070% due 01/15/2053  | 1003 | 921 |
| 3.500% due 12/16/2041  | 1100 | 1086 |
| 4.595% due 01/15/2053 •  | 1111 | 1101 |
| 4.696% due 09/15/2054 •  | 607 | 605 |
| 5.074% due 07/15/2053 •  | 412 | 410 |
| 5.380% due 01/15/2053  | 470 | 478 |
| 5.834% due 05/16/2050 •  | 352 | 357 |
| **St. Paul's CLO VIII DAC** <br>2.776% due 07/17/2030 •  | 642 | 755 |
|  |  | 22964 |
| Total Asset-Backed Securities (Cost $33,199) |  | 34026 |
| **SOVEREIGN ISSUES 13.3%**  |  |  |
| **Bonos de la Tesoreria de la Republica en pesos** <br>5.000% due 10/01/2028 | 1340000 | 1499 |
| **Colombia Government International Bonds** <br>8.375% due 11/07/2054 (e) | $400 | 425 |
| **Colombia TES**  |  |  |
| 2.250% due 04/18/2029 (c)  | 476558 | 112 |
| 11.000% due 08/22/2029  | 8782600 | 2198 |
| 11.750% due 01/24/2035  | 1668400 | 411 |
| 12.750% due 11/28/2040  | 1768200 | 459 |
| 13.250% due 02/09/2033  | 1530600 | 411 |
| **Eagle Funding Luxco SARL** <br>5.500% due 08/17/2030 | $1000 | 1020 |
| **Ecuador Government International Bonds** <br>0.000% due 07/31/2030 (a) | 300 | 257 |
| **Egypt Government Bonds** <br>21.954% due 03/04/2028 | 13900 | 292 |
| **Ivory Coast Government International Bonds** <br>6.625% due 03/22/2048 | 300 | 320 |
| **Mexico Bonos** <br>8.500% due 03/01/2029 | 39700 | 2226 |
| **Mexico Government International Bonds** <br>5.850% due 07/02/2032 | $200 | 206 |
| **Peru Government Bonds**  |  |  |
| 6.850% due 08/12/2035  | 100 | 32 |
| 7.300% due 08/12/2033  | 2900 | 985 |
| **Peru Government International Bonds**  |  |  |
| 5.400% due 08/12/2034  | 3500 | 1039 |
| 6.150% due 08/12/2032  | 14200 | 4559 |
| 6.950% due 08/12/2031  | 401 | 133 |
| **Republic of Poland Government Bonds** <br>4.750% due 07/25/2029 | 3210 | 910 |
| **Republic of South Africa Government Bonds**  |  |  |
| 6.250% due 03/31/2036  | 31270 | 1615 |
| 7.000% due 02/28/2031  | 26000 | 1536 |
| 8.000% due 01/31/2030  | 7100 | 438 |
| 8.250% due 03/31/2032  | 3200 | 198 |
| 8.500% due 01/31/2037  | 4400 | 264 |
| 8.875% due 02/28/2035  | 16800 | 1059 |
| **Romania Government International Bonds** <br>6.750% due 07/11/2039 | 400 | 490 |
| **Turkiye Government Bonds**  |  |  |
| 39.431% (BISTREFI + 0.000%) due 08/19/2026 ~  | 100 | 2 |

---

------

<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 39.431% (BISTREFI + 0.000%) due 05/17/2028 ~  | 10400 | 242 |
| Total Sovereign Issues (Cost $21,250) |  | 23338 |
|  | SHARES |  |
| **EXCHANGE-TRADED FUNDS 10.8%**  |  |  |
| **iShares Core S&P 500 ETF** | 27830 | 19062 |
| Total Exchange-Traded Funds (Cost $18,901) |  | 19062 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **SHORT-TERM INSTRUMENTS 8.5%**  |  |  |
| **REPURCHASE AGREEMENTS (d) 7.5%** |  | 13200 |
| **SHORT-TERM NOTES 1.0%**  |  |  |
| **Federal Home Loan Bank Discount Notes**  |  |  |
| 3.510% due 06/24/2026 (a)(b) | $1200 | 1180 |
| 3.565% due 02/25/2026 (a)(b) | 600 | 597 |
|  |  | 1777 |
| **SOUTH AFRICA TREASURY BILLS 0.0%**  |  |  |
| 7.505% due 06/17/2026 (a)(b) | 1200 | 70 |
| Total Short-Term Instruments (Cost $15,044) |  | 15047 |
| Total Investments in Securities (Cost $310,151) |  | 314428 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 4.6%**  |  |  |
| **SHORT-TERM INSTRUMENTS 4.6%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.6%**  |  |  |
| **PIMCO Short Asset Portfolio** | 831504 | 8163 |
| Total Short-Term Instruments (Cost $8,141) |  | 8163 |
| Total Investments in Affiliates (Cost $8,141) |  | 8163 |
| Total Investments 183.1% (Cost $318,292) |  | $322591 |
| **Financial Derivative Instruments (f)(h) 1.9**%(Cost or Premiums, net $6,504) |  | 3426 |
| Other Assets and Liabilities, net (85.0)% |  | (149812) |
| Net Assets 100.0% |  | $176205 |

---

------

<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 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:**  | **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.** | **\* 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.** | **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.** |
| **~** | **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.** | **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.** | **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.** | **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)** | **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.** | **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.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** |
| **(c)** | **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.** | **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.** |
| **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** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **(d)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Maturity<br>Date | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Collateral<br>(Received) | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 01/02/2026 | 13200 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | $(13442) | (13442) | (13442) | 13200 | 13200 | $13203 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  |  |  |  | $**(13442)** | **(13442)** | **(13442)** | **13200** | **13200** | $**13203** |
| **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:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Borrowing Rate<sup>(2)</sup> | Borrowing Rate<sup>(2)</sup> | Settlement Date | Settlement Date | Maturity Date | Maturity Date | Maturity Date | Amount<br>Borrowed<sup>(2)</sup> | Amount<br>Borrowed<sup>(2)</sup> | Amount<br>Borrowed<sup>(2)</sup> | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| BOS | BOS | 4.030%  | 4.030%  | 12/29/2025 | 12/29/2025 | 01/07/2026 | 01/07/2026 | 01/07/2026 | $(10753) | (10753) | (10753) | (10753) | $(10757) | (10757) |
| MYI | MYI | 3.100  | 3.100  | 12/12/2025 | 12/12/2025 | TBD<sup>(3)</sup> | TBD<sup>(3)</sup> | TBD<sup>(3)</sup> | (422) | (422) | (422) | (422) | (423) | (423) |
| WFS | WFS | 3.970  | 3.970  | 12/11/2025 | 12/11/2025 | 01/07/2026 | 01/07/2026 | 01/07/2026 | (1665) | (1665) | (1665) | (1665) | (1669) | (1669) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  |  |  |  | $**(12849)** | **(12849)** |
| **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Description | Coupon | Coupon | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | Principal<br>Amount | Proceeds | Proceeds | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% | U.S. Government Agencies (14.7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | 3.000% | 3.000% | 02/01/2056 | $ | 6300 | 6300 | $ | (5636) | (5636) | $(5654) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 2.000 | 2.000 | 01/01/2056 |  | 4230 | 4230 |  | (3432) | (3432) | (3420) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 2.500 | 2.500 | 01/01/2056 |  | 5700 | 5700 |  | (4840) | (4840) | (4820) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 3.500 | 3.500 | 02/01/2056 |  | 13040 | 13040 |  | (12015) | (12015) | (12016) |
| **Total Short Sales (14.7)%** | **Total Short Sales (14.7)%** | **Total Short Sales (14.7)%** | **Total Short Sales (14.7)%** | **Total Short Sales (14.7)%** |  |  |  |  |  |  | **$** | **(25923)** | **(25923)** | $**(25910)** |
| **(e)** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,202 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |
| <sup>(2)</sup> | The average amount of borrowings outstanding during the period ended December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. 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 December 31, 2025 was $(31) at a weighted average interest rate of 4.510%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| <sup>(3)</sup> | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. |
| **(f)** | **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** | **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** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** |
| Description | Description | Description | Strike<br>Price | Expiration<br>Date | Expiration<br>Date | Expiration<br>Date | # of<br>Contracts | Notional Amount | Notional Amount | Premiums<br>(Received) | Premiums<br>(Received) | Premiums<br>(Received) |  | Market<br>Value |
| Put - CBOT U.S. Treasury 10-Year Note March Futures  | Put - CBOT U.S. Treasury 10-Year Note March Futures  | Put - CBOT U.S. Treasury 10-Year Note March Futures  | $111.000 | 02/20/2026 | 02/20/2026 | 02/20/2026 | 29 | 29 | 29 | (15) | (15) | (15) | $ | (8) |
| Call - CBOT U.S. Treasury 10-Year Note March Futures  | Call - CBOT U.S. Treasury 10-Year Note March Futures  | Call - CBOT U.S. Treasury 10-Year Note March Futures  | 114.000 | 02/20/2026 | 02/20/2026 | 02/20/2026 | 29 | 29 | 29 | (19) | (19) | (19) |  | (5) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | $**(34)** | **(34)** | **(34)** | **$** | **(13)** |

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------

<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **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** | **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> | <u>Variation Margin</u> |
| Description | Description | Description | Description |  | Expiration<br>Month | Expiration<br>Month | 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 | Asset | Asset | Liability |
| 30-Day Federal Fund February Futures  | 30-Day Federal Fund February Futures  | 30-Day Federal Fund February Futures  | 30-Day Federal Fund February Futures  | 30-Day Federal Fund February Futures  | 02/2026 | 02/2026 | 02/2026 | 47 | $ | 18881 | $(7) | (7) | (7) | 0 | 0 | 0 | 0 |
| 30-Day Federal Fund May Futures  | 30-Day Federal Fund May Futures  | 30-Day Federal Fund May Futures  | 30-Day Federal Fund May Futures  | 30-Day Federal Fund May Futures  | 05/2026 | 05/2026 | 05/2026 | 18 |  | 7243 | (14) | (14) | (14) | 0 | 0 | 0 | (1) |
| Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | 03/2026 | 03/2026 | 03/2026 | 33 |  | 2411 | 4 | 4 | 4 | 3 | 3 | 3 | 0 |
| California Carbon Allowance Vintage December Futures  | California Carbon Allowance Vintage December Futures  | California Carbon Allowance Vintage December Futures  | California Carbon Allowance Vintage December Futures  | California Carbon Allowance Vintage December Futures  | 12/2026 | 12/2026 | 12/2026 | 4 |  | 132 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | 03/2026 | 03/2026 | 03/2026 | 61 |  | 9145 | (127) | (127) | (127) | 0 | 0 | 0 | (16) |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 03/2026 | 03/2026 | 53 |  | 11066 | 10 | 10 | 10 | 0 | 0 | 0 | (4) |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 03/2026 | 03/2026 | 230 |  | 25140 | (32) | (32) | (32) | 0 | 0 | 0 | (27) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 03/2026 | 235 |  | 26423 | (51) | (51) | (51) | 0 | 0 | 0 | (48) |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 03/2026 | 5 |  | 575 | (1) | (1) | (1) | 0 | 0 | 0 | (1) |
|  |  |  |  |  |  |  |  |  |  |  | (217) | (217) | $ | 3 | 3 | $ | (97) |
| **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 |  | Expiration<br>Month | Expiration<br>Month | 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 | Asset | Asset | Liability |
| Adjusted Interest Rate S&P 500 Total Return January Futures  | Adjusted Interest Rate S&P 500 Total Return January Futures  | Adjusted Interest Rate S&P 500 Total Return January Futures  | Adjusted Interest Rate S&P 500 Total Return January Futures  | Adjusted Interest Rate S&P 500 Total Return January Futures  | 01/2026 | 01/2026 | 01/2026 | 25 | $ | (8379) | $28 | 28 | 28 | 73 | 73 | 73 | 0 |
| Adjusted Interest Rate S&P 500 Total Return March Futures  | Adjusted Interest Rate S&P 500 Total Return March Futures  | Adjusted Interest Rate S&P 500 Total Return March Futures  | Adjusted Interest Rate S&P 500 Total Return March Futures  | Adjusted Interest Rate S&P 500 Total Return March Futures  | 03/2026 | 03/2026 | 03/2026 | 25 |  | (8389) | (107) | (107) | (107) | 73 | 73 | 73 | 0 |
| Euro-Oat March Futures  | Euro-Oat March Futures  | Euro-Oat March Futures  | Euro-Oat March Futures  | Euro-Oat March Futures  | 03/2026 | 03/2026 | 03/2026 | 68 |  | (9637) | 58 | 58 | 58 | 23 | 23 | 23 | 0 |
| Japan Government 10-Year Bond March Futures  | Japan Government 10-Year Bond March Futures  | Japan Government 10-Year Bond March Futures  | Japan Government 10-Year Bond March Futures  | Japan Government 10-Year Bond March Futures  | 03/2026 | 03/2026 | 03/2026 | 8 |  | (6763) | 45 | 45 | 45 | 15 | 15 | 15 | 0 |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 03/2026 | 03/2026 | 22 |  | (2596) | 9 | 9 | 9 | 8 | 8 | 8 | 0 |
|  |  |  |  |  |  |  |  |  |  |  | 33 | 33 | $ | 192 | 192 | $ | 0 |
| **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** | **(184)** | **(184)** | **$** | **195** | **195** | **$** | **(97)** |
| **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 - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 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> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| Bank of America Corp.  | 1.000% | Quarterly | 12/20/2026 | 0.299 | 0.299 | % | $ | $500 | 500 | 7 | (4) | 3 | 3 | 3 | 0 | 0 | 0 |
| British Telecommunications PLC  | 1.000 | Quarterly | 06/20/2028 | 0.223 | 0.223 |  | EUR | 100 | 100 | 0 | 2 | 2 | 2 | 2 | 0 | 0 | 0 |
| Morgan Stanley  | 1.000 | Quarterly | 06/20/2026 | 0.226 | 0.226 |  | $ | $700 | 700 | 4 | (1) | 3 | 3 | 3 | 0 | 0 | 0 |
| Volkswagen International Finance NV  | 1.000 | Quarterly | 06/20/2028 | 0.455 | 0.455 |  | EUR | 300 | 300 | 2 | 3 | 5 | 5 | 5 | 0 | 0 | 0 |
|  |  |  |  |  |  |  |  |  |  | $13 | 0 | $13 | 13 | 13 | $0 | 0 | $0 |
| **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Index/Tranches | Fixed <br>(Pay) Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date |  |  | 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> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | (1.000)% | Quarterly | 12/20/2030 | 12/20/2030 | $ | $ | 15430 | 15430 | (341) | (13) | (354) | (354) | (354) | 0 | 0 | 0 |
| **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> | **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>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date |  |  | 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> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| CDX.HY-45 5-Year Index  | CDX.HY-45 5-Year Index  | 5.000% | Quarterly | 12/20/2030 | 12/20/2030 | $ | $ | 800 | 800 | 61 | 1 | 62 | 62 | 62 | 0 | 0 | 0 |

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Asset | Liability |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 3.750% | Annual | 09/17/2030 | 14500 | $(74) | $154 | $80 | 80 | $17 | $0 |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 4.320 | Annual | 10/20/2033 | 100 | (1) | 5 | 4 | 4 | 0 | 0 |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 3.930 | Annual | 01/06/2035 | 100 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 09/17/2035 | 1700 | (50) | 54 | 4 | 4 | 2 | 0 |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 4.500 | Annual | 09/17/2055 | 880 | 41 | (51) | (10) | (10) | 0 | (2) |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 2.000 | Annual | 06/18/2055 | 110000 | 1 | (115) | (114) | (114) | 0 | (3) |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 2.500 | Annual | 12/17/2055 | 260000 | 0 | (114) | (114) | (114) | 0 | (7) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/20/2026 | $8410 | (6) | 3 | (3) | (3) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.982 | Annual | 09/30/2026 | 1300 | 0 | 4 | 4 | 4 | 0 | 0 |
| Pay<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.150 | Annual | 08/25/2028 | 16700 | (23) | (2) | (25) | (25) | 0 | (6) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 02/28/2029 | 3380 | 0 | 36 | 36 | 36 | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 | 300 | (1) | (3) | (4) | (4) | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2030 | 2200 | (31) | 4 | (27) | (27) | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2030 | 8770 | (144) | 29 | (115) | (115) | 14 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2030 | 7750 | 31 | (44) | (13) | (13) | 13 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2031 | 3000 | 9 | (45) | (36) | (36) | 5 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2032 | 1140 | (12) | 2 | (10) | (10) | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 06/21/2033 | 19020 | 1243 | (322) | 921 | 921 | 39 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2033 | 2200 | 164 | (138) | 26 | 26 | 5 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.600 | Annual | 01/17/2034 | 100 | (1) | 2 | 1 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.231 | Annual | 09/18/2034 | 20 | 0 | 1 | 1 | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.860 | Annual | 11/14/2034 | 200 | (1) | 3 | 2 | 2 | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.866 | Annual | 11/14/2034 | 100 | (1) | 2 | 1 | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.793 | Annual | 11/19/2034 | 100 | (1) | 2 | 1 | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.855 | Annual | 11/19/2034 | 100 | (1) | 2 | 1 | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.865 | Annual | 11/20/2034 | 100 | (1) | 2 | 1 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2034 | 8750 | (55) | 46 | (9) | (9) | 20 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.933 | Annual | 01/06/2035 | 200 | (1) | 3 | 2 | 2 | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.840 | Annual | 01/08/2035 | 100 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.850 | Annual | 01/08/2035 | 100 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 01/08/2035 | 100 | 0 | 1 | 1 | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.896 | Annual | 01/08/2035 | 100 | 0 | 1 | 1 | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.900 | Annual | 01/08/2035 | 100 | 0 | 1 | 1 | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.880 | Annual | 01/13/2035 | 200 | (1) | 2 | 1 | 1 | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.013 | Annual | 01/15/2035 | 100 | 0 | 2 | 2 | 2 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.071 | Annual | 01/15/2035 | 100 | 0 | 2 | 2 | 2 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.100 | Annual | 01/21/2035 | 100 | 0 | 3 | 3 | 3 | 0 | 0 |

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.090 | Annual | 01/22/2035 |  | 100 | 0 | 3 | 3 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 02/26/2035 |  | 50 | 0 | (1) | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 03/03/2035 |  | 50 | 0 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.908 | Annual | 03/04/2035 |  | 200 | (1) | (1) | (2) | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.870 | Annual | 03/05/2035 |  | 100 | 0 | (1) | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | 03/05/2035 |  | 100 | 0 | (1) | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.899 | Annual | 03/11/2035 |  | 100 | 0 | (1) | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 |  | 100 | 0 | (1) | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 03/21/2035 |  | 200 | (1) | (2) | (3) | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | 03/24/2035 |  | 200 | (1) | (1) | (2) | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.884 | Annual | 03/25/2035 |  | 100 | 0 | (1) | (1) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/07/2035 |  | 200 | (1) | 0 | (1) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2035 |  | 19070 | 41 | 24 | 65 | 46 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2035 |  | 1050 | (17) | 21 | 4 | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 02/20/2049 |  | 2300 | 35 | 145 | 180 | 8 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.046 | Annual | 11/15/2052 |  | 1400 | 0 | (30) | (30) | 0 | (5) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.054 | Annual | 11/15/2052 |  | 1460 | 0 | (30) | (30) | 0 | (5) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.750 | Annual | 06/21/2053 |  | 2650 | 142 | 505 | 647 | 8 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/18/2054 |  | 6800 | 106 | 674 | 780 | 22 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 09/17/2055 |  | 4990 | (428) | (148) | (576) | 0 | (16) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2055 |  | 1110 | 26 | 54 | 80 | 4 | 0 |
| Pay<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.110 | Annual | 08/25/2057 |  | 100 | 0 | (2) | (2) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 13.926 | Maturity | 01/04/2027 | BRL | 800 | 0 | (1) | (1) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 13.927 | Maturity | 01/04/2027 |  | 9000 | 0 | (8) | (8) | 0 | (2) |
| Pay | 1-Year BRL-CDI | 14.009 | Maturity | 01/04/2027 |  | 2300 | 0 | (1) | (1) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 12.975 | Maturity | 01/02/2029 |  | 12400 | 0 | (7) | (7) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 13.245 | Maturity | 01/02/2029 |  | 16600 | 0 | (3) | (3) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 13.291 | Maturity | 01/02/2029 |  | 5800 | 0 | (5) | (5) | 0 | (2) |
| Pay | 1-Year BRL-CDI | 13.320 | Maturity | 01/02/2029 |  | 400 | 0 | 0 | 0 | 0 | 0 |
| Receive | 3-Month COP-IBR Compounded-OIS | 8.590 | Quarterly | 08/22/2029 | COP | 3596000 | 0 | 63 | 63 | 0 | (1) |
| Receive | 3-Month COP-IBR Compounded-OIS | 8.933 | Quarterly | 08/22/2029 |  | 3435300 | 0 | 51 | 51 | 0 | (1) |
| Receive | 3-Month PLN-WIBOR | 4.136 | Annual | 07/25/2029 | PLN | 1180 | (2) | (3) | (5) | 0 | 0 |
| Receive | 3-Month PLN-WIBOR | 4.930 | Annual | 07/25/2029 |  | 2200 | 0 | (26) | (26) | 0 | (1) |
| Receive<sup>(6)</sup> | 3-Month PLN-WIBOR | 4.723 | Annual | 12/01/2035 |  | 800 | 0 | 0 | 0 | 0 | 0 |
| Receive<sup>(6)</sup> | 3-Month PLN-WIBOR | 4.685 | Annual | 12/02/2035 |  | 100 | 0 | 0 | 0 | 0 | 0 |
| Receive | 3-Month ZAR-JIBAR | 7.205 | Quarterly | 02/28/2031 | ZAR | 18270 | (9) | (18) | (27) | 0 | (1) |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/20/2033 | AUD | 6900 | (2) | (31) | (33) | 0 | (5) |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 06/18/2035 |  | 700 | 13 | (22) | (9) | 0 | (1) |
| Receive | 6-Month CLP-CHILIBOR | 4.568 | Semi-Annual | 10/01/2028 | CLP | 854400 | 0 | (1) | (1) | 0 | (1) |
| Receive | 6-Month CLP-CHILIBOR | 4.580 | Semi-Annual | 10/01/2028 |  | 425700 | 0 | 0 | 0 | 0 | 0 |
| Pay | 6-Month CZK-PRIBOR | 3.760 | Annual | 11/01/2034 | CZK | 200 | 0 | 0 | 0 | 0 | 0 |
| Pay<sup>(6)</sup> | 6-Month CZK-PRIBOR | 4.523 | Annual | 12/01/2035 |  | 4460 | 0 | 1 | 1 | 0 | 0 |
| Pay<sup>(6)</sup> | 6-Month CZK-PRIBOR | 4.485 | Annual | 12/02/2035 |  | 600 | 0 | 0 | 0 | 0 | 0 |
| Receive | 6-Month EUR-EURIBOR | 2.280 | Annual | 03/04/2030 | EUR | 100 | 0 | 0 | 0 | 0 | 0 |
| Receive | 6-Month EUR-EURIBOR | 2.400 | Annual | 04/09/2030 |  | 100 | 0 | (1) | (1) | 0 | 0 |
| Receive | 6-Month EUR-EURIBOR | 3.280 | Annual | 11/22/2033 |  | 100 | (1) | (3) | (4) | 0 | 0 |
| Receive | 6-Month EUR-EURIBOR | 3.305 | Annual | 11/27/2033 |  | 100 | (1) | (3) | (4) | 0 | 0 |
| Receive | 6-Month EUR-EURIBOR | 3.128 | Annual | 12/04/2033 |  | 100 | (1) | (2) | (3) | 0 | 0 |
| Receive | 6-Month EUR-EURIBOR | 3.063 | Annual | 12/06/2033 |  | 100 | 0 | (2) | (2) | 0 | 0 |

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.990 | Annual | Annual | 12/08/2033 | 100 |  | 0 |  | (2) |  | (2) |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.910 | Annual | Annual | 12/29/2033 | 100 |  | 0 |  | (1) |  | (1) |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.650 | Annual | Annual | 01/08/2034 | 90 |  | 0 |  | (1) |  | (1) |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.670 | Annual | Annual | 04/03/2034 | 100 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.710 | Annual | Annual | 08/06/2034 | 100 |  | 0 |  | 1 |  | 1 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.680 | Annual | Annual | 08/07/2034 | 100 |  | 0 |  | 1 |  | 1 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.590 | Annual | Annual | 08/19/2034 | 100 |  | 0 |  | 2 |  | 2 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.580 | Annual | Annual | 08/29/2034 | 200 |  | (1) |  | 5 |  | 4 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.390 | Annual | Annual | 10/01/2034 | 100 |  | 0 |  | 4 |  | 4 |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.380 | Annual | Annual | 12/31/2034 | 100 |  | 0 |  | (5) |  | (5) |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.220 | Annual | Annual | 01/08/2035 | 100 |  | 0 |  | (5) |  | (5) |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.400 | Annual | Annual | 02/12/2035 | 100 |  | 0 |  | 3 |  | 3 |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.460 | Annual | Annual | 03/13/2035 | 100 |  | 0 |  | (2) |  | (2) |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.610 | Annual | Annual | 03/24/2035 | 100 |  | 0 |  | (1) |  | (1) |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.520 | Annual | Annual | 03/27/2035 | 100 |  | 0 |  | (2) |  | (2) |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.510 | Annual | Annual | 04/09/2035 | 100 |  | 0 |  | 2 |  | 2 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.520 | Annual | Annual | 04/09/2035 | 100 |  | 0 |  | 2 |  | 2 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.550 | Annual | Annual | 04/16/2035 | 100 |  | 0 |  | 2 |  | 2 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.530 | Annual | Annual | 04/23/2035 | 100 |  | (1) |  | 3 |  | 2 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.450 | Annual | Annual | 05/05/2035 | 100 |  | 0 |  | 3 |  | 3 |  | 0 |  | 0 |
| Receive | Receive | 28-Day MXN-TIIE | 28-Day MXN-TIIE | 7.000 | Lunar | Lunar | 03/01/2029 | 6000 |  | 0 |  | 4 |  | 4 |  | 0 |  | 0 |
| Receive | Receive | 28-Day MXN-TIIE | 28-Day MXN-TIIE | 7.011 | Lunar | Lunar | 03/01/2029 | 18500 |  | 0 |  | 13 |  | 13 |  | 0 |  | (1) |
| Pay | Pay | 28-Day MXN-TIIE | 28-Day MXN-TIIE | 7.760 | Lunar | Lunar | 03/01/2029 | 5000 |  | 0 |  | 3 |  | 3 |  | 0 |  | 0 |
| Receive | Receive | 28-Day MXN-TIIE | 28-Day MXN-TIIE | 9.000 | Lunar | Lunar | 03/01/2029 | 19100 |  | (31) |  | (17) |  | (48) |  | 0 |  | (1) |
| Receive | Receive | CPURNSA | CPURNSA | 2.502 | Maturity | Maturity | 03/25/2030 | 3500 |  | 0 |  | (15) |  | (15) |  | 5 |  | 0 |
| Receive | Receive | CPURNSA | CPURNSA | 2.520 | Maturity | Maturity | 03/27/2030 | 3100 |  | 0 |  | (17) |  | (17) |  | 5 |  | 0 |
| Receive | Receive | CPURNSA | CPURNSA | 2.544 | Maturity | Maturity | 04/07/2030 | 2200 |  | (17) |  | 2 |  | (15) |  | 4 |  | 0 |
| Receive | Receive | CPURNSA | CPURNSA | 2.487 | Maturity | Maturity | 04/03/2035 | 5900 |  | (64) |  | 24 |  | (40) |  | 10 |  | 0 |
|  |  |  |  |  |  |  |  | $ | $868 | 868 | $722 | 722 | $1590 | 1590 | $240 | 240 | $(68) | (68) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | $**601** | **601** | $**710** | **710** | $**1311** | **1311** | $**240** | **240** | $**(68)** | **(68)** |
| **(g)** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $982 and cash of $4,666 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <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. | 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>(2)</sup> | If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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>(3)</sup> | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. |
| <sup>(4)</sup> | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. | 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. | 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. | This instrument has a forward starting effective date. |
| **(h)** | **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** | **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:** | **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> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | 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 | Asset | Liability | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 01/2026  | 01/2026  | 01/2026  | CLP | 46517 | 46517 | $ | $51 | 51 | 51 | 0 | 0 | 0 | $(1) | (1) | (1) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | COP | 265495 | 265495 |  | 70 | 70 | 70 | 0 | 0 | 0 | 0 | 0 | 0 |

---

------

<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 01/2026  | 905 | 10 | 0 | 0 |
|  | 01/2026  | 62476 | 43 | 0 | 0 |
|  | 01/2026  | 4729 | 80 | 0 | 0 |
|  | 01/2026  | 3706 | 1004 | 0 | (28) |
|  | 01/2026  | 2919 | 90 | 0 | (3) |
|  | 01/2026  | 4289 | 141 | 4 | 0 |
|  | 01/2026  | $200 | 275 | 0 | 0 |
|  | 01/2026  | 51 | 46517 | 1 | 0 |
|  | 01/2026  | 100 | 376100 | 0 | (1) |
|  | 01/2026  | 116 | 169043 | 2 | 0 |
|  | 01/2026  | 299 | 1094 | 6 | 0 |
|  | 01/2026  | 22 | 699 | 0 | 0 |
|  | 02/2026  | 88878 | $23 | 0 | 0 |
|  | 02/2026  | 376 | 118 | 0 | 0 |
|  | 03/2026  | 117651 | 130 | 0 | (1) |
|  | 03/2026  | 380633 | 99 | 1 | 0 |
|  | 03/2026  | 6981 | 2071 | 0 | 0 |
|  | 03/2026  | $51 | 46517 | 1 | 0 |
|  | 03/2026  | 100 | 1816 | 0 | 0 |
|  | 03/2026  | 50 | 169 | 0 | 0 |
|  | 04/2026  | 34 | 635 | 0 | 0 |
|  | 06/2026  | 1667 | $493 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | 01/2026  | 2031 | 1320 | 0 | (35) |
|  | 01/2026  | 39 | 50 | 0 | 0 |
|  | 01/2026  | 3081 | 437 | 0 | (5) |
|  | 01/2026  | 607 | 187 | 0 | (4) |
|  | 01/2026  | 9917 | 110 | 0 | 0 |
|  | 01/2026  | 33300 | 215 | 3 | 0 |
|  | 01/2026  | 73698 | 50 | 0 | (1) |
|  | 01/2026  | 1080 | 614 | 0 | (8) |
|  | 01/2026  | 2964 | 50 | 0 | 0 |
|  | 01/2026  | 928 | 254 | 0 | (4) |
|  | 01/2026  | 26442 | 859 | 18 | 0 |
|  | 01/2026  | $30 | 27222 | 0 | 0 |
|  | 01/2026  | 469 | 3288 | 2 | 0 |
|  | 01/2026  | 67 | 255624 | 0 | 0 |
|  | 01/2026  | 118 | 101 | 0 | 0 |
|  | 01/2026  | 130 | 2180610 | 0 | 0 |
|  | 01/2026  | 50 | 4517 | 0 | 0 |
|  | 01/2026  | 98 | 5793 | 0 | 0 |
|  | 01/2026  | 334 | 1212 | 4 | 0 |
|  | 01/2026  | 797 | 24980 | 1 | (2) |
|  | 01/2026  | 370 | 6166 | 2 | 0 |
|  | 01/2026  | 2693 | $161 | 0 | (1) |
|  | 02/2026  | 64482 | 17 | 0 | 0 |
|  | 02/2026  | $112 | 10123 | 0 | 0 |
|  | 02/2026  | 275 | 8629 | 0 | (1) |
|  | 03/2026  | 1774 | $85 | 0 | (1) |
|  | 03/2026  | 10142 | 327 | 4 | 0 |
|  | 03/2026  | $50 | 1550 | 0 | 0 |
|  | 04/2026  | 400 | $70 | 0 | (1) |
|  | 04/2026  | $4121 | 22700 | 0 | (64) |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | 01/2026  | 3957 | $614 | 0 | (9) |
|  | 01/2026  | 160 | 186 | 0 | (2) |
|  | 01/2026  | 667240 | 40 | 0 | 0 |
|  | 01/2026  | 33 | 10 | 0 | 0 |
|  | 01/2026  | 2955 | 50 | 0 | 0 |
|  | 01/2026  | 5308 | 118 | 0 | (4) |
|  | 01/2026  | $193 | 792 | 2 | 0 |
|  | 01/2026  | 55 | 200 | 1 | 0 |
|  | 01/2026  | 156 | 1445 | 1 | 0 |
|  | 01/2026  | 32 | 1441 | 1 | 0 |
|  | 01/2026  | 11490 | $663 | 0 | (30) |
|  | 02/2026  | 149 | 46 | 0 | (1) |
|  | 02/2026  | 163 | 4 | 0 | 0 |
|  | 02/2026  | $680 | 30847 | 20 | 0 |
|  | 03/2026  | 309 | 5718 | 7 | 0 |
|  | 03/2026  | 823 | 37631 | 10 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | 01/2026  | 1212 | $220 | 0 | (1) |
|  | 01/2026  | 121818 | 783 | 4 | 0 |
|  | 01/2026  | $218 | 1212 | 3 | 0 |
|  | 01/2026  | 560 | 525671 | 25 | 0 |
|  | 02/2026  | 1221 | $218 | 0 | (3) |
|  | 02/2026  | 64482 | 17 | 0 | 0 |
|  | 02/2026  | $51 | 196618 | 1 | 0 |
|  | 02/2026  | 88 | 303 | 1 | 0 |
|  | 04/2026  | 700 | $123 | 0 | (2) |
|  | 05/2026  | 593 | 174 | 0 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 111 | 74 | 0 | 0 |
|  | 01/2026  | 1218 | 222 | 1 | 0 |
|  | 01/2026  | 220 | 158 | 0 | (3) |
|  | 01/2026  | 46517 | 51 | 0 | (1) |
|  | 01/2026  | 4705989 | 1212 | 2 | (20) |
|  | 01/2026  | 501570 | 30 | 0 | 0 |
|  | 01/2026  | 57739 | 39 | 0 | (1) |
|  | 01/2026  | 2043 | 200 | 0 | (2) |

---

------

<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 01/2026  | 158 | 91 | 0 | 0 |
|  | 01/2026  | 1718 | 483 | 0 | (28) |
|  | 01/2026  | 1618 | 51 | 0 | (1) |
|  | 01/2026  | 23998 | 790 | 26 | 0 |
|  | 01/2026  | $571 | 858 | 2 | 0 |
|  | 01/2026  | 221 | 1218 | 1 | 0 |
|  | 01/2026  | 120 | 110646 | 3 | 0 |
|  | 01/2026  | 298 | 2077 | 1 | 0 |
|  | 01/2026  | 59 | 222899 | 0 | 0 |
|  | 01/2026  | 952 | 817 | 8 | 0 |
|  | 01/2026  | 50 | 833781 | 0 | 0 |
|  | 01/2026  | 30 | 95 | 0 | 0 |
|  | 01/2026  | 2735 | 244379 | 2 | (25) |
|  | 01/2026  | 146 | 214141 | 3 | 0 |
|  | 01/2026  | 690 | 2325 | 2 | 0 |
|  | 01/2026  | 30 | 107 | 0 | 0 |
|  | 01/2026  | 3 | 112 | 0 | 0 |
|  | 01/2026  | 666 | 20790 | 0 | (5) |
|  | 01/2026  | 2415 | $140 | 0 | (5) |
|  | 02/2026  | 257584 | 68 | 1 | 0 |
|  | 02/2026  | 288 | 91 | 0 | 0 |
|  | 02/2026  | 1822 | 539 | 0 | (2) |
|  | 02/2026  | $596 | 2318200 | 7 | 0 |
|  | 02/2026  | 6 | 202 | 0 | 0 |
|  | 03/2026  | 468723 | $503 | 0 | (18) |
|  | 03/2026  | 402265 | 106 | 2 | 0 |
|  | 03/2026  | 7662 | 2201 | 0 | (73) |
|  | 03/2026  | 11023 | 354 | 4 | 0 |
|  | 03/2026  | $233 | 789 | 1 | 0 |
|  | 04/2026  | 187282 | $49 | 1 | 0 |
|  | 08/2026  | $128 | 2279 | 7 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CIB | 01/2026  | 50 | 168 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | 01/2026  | 249 | $77 | 0 | (1) |
|  | 01/2026  | 177099 | 121 | 0 | (2) |
|  | 01/2026  | $50 | 189422 | 0 | (1) |
|  | 01/2026  | 233 | 744 | 0 | 0 |
|  | 01/2026  | 588 | 52383 | 0 | (7) |
|  | 01/2026  | 290 | 425674 | 6 | 0 |
|  | 01/2026  | 160 | 2687 | 2 | 0 |
|  | 01/2026  | 16440 | $944 | 0 | (48) |
|  | 02/2026  | 744 | 233 | 0 | 0 |
|  | 02/2026  | $204 | 67125 | 1 | 0 |
|  | 02/2026  | 9 | 273 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | 01/2026  | 4139 | $2688 | 0 | (74) |
|  | 01/2026  | 52 | 65 | 0 | (1) |
|  | 01/2026  | 1536 | 218 | 0 | (2) |
|  | 01/2026  | 3115 | 4091 | 0 | (108) |
|  | 01/2026  | 17790 | 959 | 0 | (27) |
|  | 01/2026  | 82 | 20 | 0 | 0 |
|  | 01/2026  | 638 | 365 | 0 | (2) |
|  | 01/2026  | $123 | 396 | 1 | 0 |
|  | 01/2026  | 458 | 1674 | 8 | 0 |
|  | 01/2026  | 14198 | $826 | 0 | (30) |
|  | 02/2026  | 396 | 123 | 0 | (1) |
|  | 02/2026  | 2666 | 761 | 0 | (30) |
|  | 03/2026  | 622 | 185 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | 01/2026  | 3022 | 3770 | 0 | (49) |
|  | 01/2026  | 28153 | 7 | 0 | 0 |
|  | 01/2026  | 820 | 254 | 0 | (4) |
|  | 01/2026  | 73476 | 50 | 0 | (1) |
|  | 01/2026  | 1976 | 62 | 0 | (1) |
|  | 01/2026  | $308 | 421 | 0 | (1) |
|  | 01/2026  | 231 | 1626 | 3 | 0 |
|  | 01/2026  | 50 | 188455 | 0 | 0 |
|  | 01/2026  | 100 | 1678156 | 0 | 0 |
|  | 01/2026  | 14 | 57 | 0 | 0 |
|  | 01/2026  | 334 | 1221 | 6 | 0 |
|  | 01/2026  | 278 | 359 | 2 | 0 |
|  | 01/2026  | 10558 | $612 | 0 | (24) |
|  | 02/2026  | 83488 | 22 | 0 | 0 |
|  | 02/2026  | $97 | 1801 | 2 | 0 |
|  | 02/2026  | 30 | 1367 | 1 | 0 |
|  | 03/2026  | 32451 | $8 | 0 | 0 |
|  | 03/2026  | 233 | 69 | 0 | 0 |
|  | 03/2026  | $2911 | 16128 | 0 | (6) |
|  | 03/2026  | 127 | 2353 | 3 | 0 |
|  | 04/2026  | 1700 | $299 | 1 | (5) |
|  | 04/2026  | $351 | 6457 | 4 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | 01/2026  | 6393 | $908 | 0 | (10) |
|  | 01/2026  | 5289 | 680 | 1 | 0 |
|  | 01/2026  | 2518 | 772 | 0 | (19) |
|  | 01/2026  | 18565 | 209 | 2 | 0 |
|  | 01/2026  | 1071561 | 747 | 4 | 0 |
|  | 01/2026  | 69 | 40 | 0 | 0 |
|  | 01/2026  | 1572 | 429 | 0 | (9) |
|  | 01/2026  | $365 | 501 | 1 | 0 |

---

------

<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | 01/2026  | 270 | 270 | CNH | 1900 |  | 2 | 2 | 2 |  | 0 |
|  |  | 01/2026  | 235 | 235 | INR | 20911 |  | 0 | 0 | 0 |  | (3) |
|  |  | 01/2026  | 199 | 199 | KRW | 292384 |  | 4 | 4 | 4 |  | 0 |
|  |  | 01/2026  | 345 | 345 | PLN | 1273 |  | 9 | 9 | 9 |  | 0 |
|  |  | 01/2026  | 507 | 507 | TWD | 15741 |  | 0 | 0 | 0 |  | (6) |
|  |  | 01/2026  | 3870 | 3870 | $ | 226 |  | 0 | 0 | 0 |  | (8) |
|  |  | 02/2026  | 32283 | 32283 |  | 8 |  | 0 | 0 | 0 |  | 0 |
|  |  | 02/2026  | $747 | 747 | KRW | 1070155 |  | 0 | 0 | 0 |  | (5) |
|  |  | 02/2026  | 72 | 72 | MXN | 1334 |  | 2 | 2 | 2 |  | 0 |
|  |  | 03/2026  | 32493 | 32493 | $ | 8 |  | 0 | 0 | 0 |  | 0 |
|  |  | 03/2026  | $269 | 269 | MXN | 4927 |  | 3 | 3 | 3 |  | 0 |
|  |  | 04/2026  | 19900 | 19900 | $ | 3376 |  | 0 | 0 | 0 |  | (181) |
|  |  | 04/2026  | $100 | 100 | MXN | 1841 |  | 1 | 1 | 1 |  | 0 |
|  |  | 06/2026  | 1200 | 1200 | $ | 68 |  | 0 | 0 | 0 |  | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 2912 | 2912 |  | 2069 |  | 0 | 0 | 0 |  | (54) |
|  |  | 01/2026  | 303 | 303 |  | 379 |  | 0 | 0 | 0 |  | (4) |
|  |  | 01/2026  | 169 | 169 |  | 227 |  | 0 | 0 | 0 |  | (1) |
|  |  | 01/2026  | 490671 | 490671 |  | 3158 |  | 23 | 23 | 23 |  | 0 |
|  |  | 01/2026  | 30358 | 30358 |  | 21 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 505 | 505 |  | 50 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 11235 | 11235 |  | 1180 |  | 0 | 0 | 0 |  | (41) |
|  |  | 01/2026  | 4594 | 4594 |  | 3541 |  | 0 | 0 | 0 |  | (36) |
|  |  | 01/2026  | $342 | 342 | CHF | 274 |  | 4 | 4 | 4 |  | 0 |
|  |  | 01/2026  | 240 | 240 | HKD | 1870 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 36 | 36 | INR | 3218 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 93 | 93 | PLN | 341 |  | 2 | 2 | 2 |  | 0 |
|  |  | 01/2026  | 34 | 34 | TWD | 1078 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 30 | 30 | ZAR | 504 |  | 0 | 0 | 0 |  | 0 |
|  |  | 02/2026  | 325 | 325 | MXN | 6031 |  | 8 | 8 | 8 |  | 0 |
|  |  | 03/2026  | 87 | 87 |  | 1610 |  | 1 | 1 | 1 |  | 0 |
|  |  | 04/2026  | 87 | 87 |  | 1605 |  | 1 | 1 | 1 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | 01/2026  | 3415 | 3415 | $ | 189 |  | 0 | 0 | 0 |  | (1) |
|  |  | 01/2026  | $150 | 150 | CAD | 209 |  | 2 | 2 | 2 |  | 0 |
|  |  | 01/2026  | 326 | 326 | GBP | 245 |  | 4 | 4 | 4 |  | 0 |
|  |  | 01/2026  | 49 | 49 | INR | 4450 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 241 | 241 | JPY | 37477 |  | 0 | 0 | 0 |  | (1) |
|  |  | 01/2026  | 98 | 98 | KRW | 143013 |  | 1 | 1 | 1 |  | 0 |
|  |  | 01/2026  | 10 | 10 | TWD | 312 |  | 0 | 0 | 0 |  | 0 |
|  |  | 02/2026  | 580 | 580 | $ | 180 |  | 0 | 0 | 0 |  | (2) |
|  |  | 04/2026  | $52 | 52 | MXN | 941 |  | 0 | 0 | 0 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; NGF | &nbsp;&nbsp;&nbsp;&nbsp; NGF | 01/2026  | 290316 | 290316 | $ | 198 |  | 0 | 0 | 0 |  | (3) |
|  |  | 01/2026  | $194 | 194 | KRW | 285530 |  | 4 | 4 | 4 |  | 0 |
|  |  | 03/2026  | 11 | 11 | TRY | 511 |  | 0 | 0 | 0 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC | &nbsp;&nbsp;&nbsp;&nbsp; RBC | 01/2026  | 98 | 98 | KRW | 144545 |  | 2 | 2 | 2 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 01/2026  | 87 | 87 | $ | 109 |  | 0 | 0 | 0 |  | (1) |
|  |  | 01/2026  | 3062 | 3062 |  | 435 |  | 0 | 0 | 0 |  | (5) |
|  |  | 01/2026  | 155 | 155 |  | 180 |  | 0 | 0 | 0 |  | (2) |
|  |  | 01/2026  | 1821 | 1821 |  | 20 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 94497 | 94497 |  | 608 |  | 4 | 4 | 4 |  | 0 |
|  |  | 01/2026  | 4650 | 4650 |  | 153 |  | 5 | 5 | 5 |  | 0 |
|  |  | 01/2026  | $217 | 217 | IDR | 3627069 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 30 | 30 | INR | 2669 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 535 | 535 | JPY | 83500 |  | 0 | 0 | 0 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | 01/2026  | 18592 | 18592 | $ | 21525 |  | 0 | 0 | 0 |  | (334) |
|  |  | 01/2026  | 353498 | 353498 |  | 2260 |  | 2 | 2 | 2 |  | 0 |
|  |  | 01/2026  | $100 | 100 | SEK | 942 |  | 3 | 3 | 3 |  | 0 |
|  |  | 01/2026  | 100 | 100 | TWD | 3133 |  | 0 | 0 | 0 |  | 0 |
|  |  | 02/2026  | 45 | 45 | MXN | 827 |  | 1 | 1 | 1 |  | 0 |
|  |  | 03/2026  | 459762 | 459762 | $ | 474 |  | 0 | 0 | 0 |  | (37) |
|  |  | 03/2026  | 27484 | 27484 |  | 1467 |  | 0 | 0 | 0 |  | (49) |
|  |  | 03/2026  | 6 | 6 |  | 2 |  | 0 | 0 | 0 |  | 0 |
|  |  | 03/2026  | $1181 | 1181 | MXN | 22129 |  | 39 | 39 | 39 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | 01/2026  | 11198 | 11198 | $ | 124 |  | 0 | 0 | 0 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | 01/2026  | 8 | 8 |  | 10 |  | 0 | 0 | 0 |  | 0 |
|  |  | 01/2026  | 2439201 | 2439201 |  | 621 |  | 0 | 0 | 0 |  | (20) |
|  |  | 01/2026  | $332 | 332 | PLN | 1204 |  | 4 | 4 | 4 |  | 0 |
|  |  | 01/2026  | 16104 | 16104 | $ | 926 |  | 0 | 0 | 0 |  | (45) |
|  |  | 02/2026  | $71 | 71 | MXN | 1322 |  | 2 | 2 | 2 |  | 0 |
|  |  | 03/2026  | 506300 | 506300 | $ | 544 |  | 0 | 0 | 0 |  | (19) |
|  |  | 03/2026  | 3975264 | 3975264 |  | 1012 |  | 0 | 0 | 0 |  | (18) |
| **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** | $**380** | **380** | **380** | **$** | $**(1743)** | **(1743)** |
| **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** |
| **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** |
| Counterparty | Description | Description | Description | Exercise<br>Rate | Exercise<br>Rate | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Cost | Cost |  | Market<br>Value |
| GST | Put - OTC CDX.IG-45 5-Year Index  | Put - OTC CDX.IG-45 5-Year Index  | Put - OTC CDX.IG-45 5-Year Index  | 0.650% | 0.650% | 28800 | 28800 | 28800 | $57 | 57 | $ | $43 |

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** |
| Counterparty | Description | Description | Description |  |  | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | HKD | HKD | 7.800 | 7.800 | 08/14/2026 | 3500 | $5 | $2 |
|  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  |  | 7.800 | 7.800 | 08/24/2026 | 5300 | 7 | 3 |
|  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | KRW | 1419.000 | 1419.000 | 02/12/2026 | 440 | 3 | 3 |
|  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | ZAR | ZAR | 18.000 | 18.000 | 08/19/2026 | 1020 | 45 | 82 |
| BRC | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | KRW | 1423.000 | 1423.000 | 02/12/2026 | 150 | 1 | 1 |
| GLM | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | BRL | BRL | 5.390 | 5.390 | 02/04/2026 | 610 | 9 | 3 |
|  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | HKD | HKD | 7.800 | 7.800 | 08/14/2026 | 1000 | 1 | 1 |
| MBC | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  |  | 7.800 | 7.800 | 08/14/2026 | 1800 | 2 | 1 |
|  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  |  | 7.800 | 7.800 | 08/24/2026 | 2000 | 3 | 1 |
|  |  |  |  |  |  |  |  |  |  | $76 | $97 |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Description | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | Receive | 4.093% | 4.093% | 01/04/2027 | 01/04/2027 | 23000 | $16 | $10 |
|  | Call - OTC 5-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.230 | 3.230 | 03/30/2026 | 03/30/2026 | 2300 | 18 | 7 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.317 | 3.317 | 03/02/2026 | 03/02/2026 | 2500 | 15 | 4 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.194 | 3.194 | 03/04/2026 | 03/04/2026 | 600 | 2 | 1 |
|  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | Receive | 3.758 | 3.758 | 03/30/2026 | 03/30/2026 | 1200 | 9 | 6 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.146 | 3.146 | 04/15/2026 | 04/15/2026 | 1400 | 11 | 3 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 2.972 | 2.972 | 08/04/2026 | 08/04/2026 | 200 | 2 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.222 | 3.222 | 08/04/2026 | 08/04/2026 | 100 | 1 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 2.965 | 2.965 | 08/05/2026 | 08/05/2026 | 200 | 2 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.215 | 3.215 | 08/05/2026 | 08/05/2026 | 100 | 1 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.067 | 3.067 | 08/12/2026 | 08/12/2026 | 200 | 2 | 1 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.317 | 3.317 | 08/12/2026 | 08/12/2026 | 100 | 1 | 1 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.075 | 3.075 | 08/14/2026 | 08/14/2026 | 200 | 2 | 1 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.325 | 3.325 | 08/14/2026 | 08/14/2026 | 100 | 1 | 1 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 4.427 | 4.427 | 08/06/2035 | 08/06/2035 | 600 | 53 | 42 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | Receive | 4.427 | 4.427 | 08/06/2035 | 08/06/2035 | 600 | 53 | 52 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 4.656 | 4.656 | 08/20/2035 | 08/20/2035 | 600 | 52 | 46 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | Receive | 4.656 | 4.656 | 08/20/2035 | 08/20/2035 | 600 | 52 | 49 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 4.693 | 4.693 | 08/27/2035 | 08/27/2035 | 1000 | 86 | 78 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | Receive | 4.693 | 4.693 | 08/27/2035 | 08/27/2035 | 1000 | 86 | 80 |
| BRC | Call - OTC 30-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 4.110 | 4.110 | 08/23/2027 | 08/23/2027 | 1900 | 153 | 108 |
|  | Put - OTC 30-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | Receive | 4.110 | 4.110 | 08/23/2027 | 08/23/2027 | 2400 | 194 | 182 |
| DUB | Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.163 | 3.163 | 08/23/2027 | 08/23/2027 | 139900 | 703 | 490 |
|  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | Receive | 3.163 | 3.163 | 08/23/2027 | 08/23/2027 | 139900 | 703 | 686 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.189 | 3.189 | 01/02/2026 | 01/02/2026 | 1900 | 8 | 0 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.442 | 3.442 | 03/24/2026 | 03/24/2026 | 2600 | 13 | 11 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.174 | 3.174 | 04/27/2026 | 04/27/2026 | 2300 | 17 | 6 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 4.628 | 4.628 | 08/20/2035 | 08/20/2035 | 2700 | 234 | 205 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 4.628 | 4.628 | 08/21/2035 | 08/21/2035 | 2200 | 190 | 167 |
| FAR | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | Receive | 3.751 | 3.751 | 10/14/2026 | 10/14/2026 | 19700 | 18 | 12 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 3.407 | 3.407 | 03/18/2026 | 03/18/2026 | 3300 | 16 | 12 |
| GLM | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | Pay | 4.485 | 4.485 | 07/31/2035 | 07/31/2035 | 1600 | 141 | 115 |

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.485 | 07/31/2035 | 1600 | 141 | 137 |
|  | Call - OTC 30-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.110 | 08/23/2027 | 5400 | 436 | 308 |
|  | Put - OTC 30-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.110 | 08/23/2027 | 7100 | 573 | 539 |
| JPM | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.260 | 04/28/2026 | 2500 | 24 | 8 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.750 | 02/18/2026 | 6000 | 12 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 2.995 | 08/07/2026 | 200 | 2 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.245 | 08/07/2026 | 100 | 1 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.038 | 08/11/2026 | 200 | 2 | 1 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.288 | 08/11/2026 | 100 | 1 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.485 | 07/31/2035 | 2600 | 229 | 187 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.485 | 07/31/2035 | 2600 | 229 | 223 |
| MYC | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.857 | 10/07/2026 | 24600 | 19 | 11 |
|  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.141 | 12/30/2026 | 24600 | 18 | 10 |
|  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.082 | 01/04/2027 | 24600 | 18 | 11 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.421 | 03/30/2026 | 2500 | 13 | 11 |
|  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.174 | 04/27/2026 | 200 | 1 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.255 | 08/03/2026 | 2800 | 36 | 12 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.505 | 08/03/2026 | 2500 | 50 | 21 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.255 | 08/03/2026 | 2500 | 37 | 18 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.048 | 08/10/2026 | 200 | 2 | 1 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.298 | 08/10/2026 | 100 | 1 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.485 | 08/07/2035 | 600 | 53 | 43 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.485 | 08/07/2035 | 600 | 53 | 51 |
| NGF | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.520 | 08/13/2035 | 1300 | 114 | 95 |
|  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.520 | 08/13/2035 | 1300 | 114 | 110 |
|  |  |  |  |  |  |  |  |  | $5034 | $4173 |
| **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** |
| Counterparty | Description | Description |  | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 02/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 02/01/2056  | $ | $97.375 | 97.375 | 02/05/2026 | 02/05/2026 | $1500 | $2 | $0 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | $**5169** | $**4313** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** | **CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES** |
| Counterparty | Description | Description | Buy/Sell<br>Protection | Buy/Sell<br>Protection | Buy/Sell<br>Protection | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| GST | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.525% | 01/21/2026 | 4200 | $(5) | $(5) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.550 | 01/21/2026 | 12620 | (23) | (28) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.575 | 01/21/2026 | 2200 | (5) | (7) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.525 | 02/18/2026 | 11500 | (17) | (17) |
|  | Put - OTC CDX.IG-45 5-Year Index  | Put - OTC CDX.IG-45 5-Year Index  | Sell | Sell | Sell | 0.525 | 02/18/2026 | 2600 | (4) | (3) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.500 | 05/20/2026 | 6500 | (9) | (8) |
|  | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.525 | 05/20/2026 | 25900 | (48) | (49) |
| RBC | Call - OTC CDX.IG-45 5-Year Index  | Call - OTC CDX.IG-45 5-Year Index  | Buy | Buy | Buy | 0.525 | 02/18/2026 | 500 | (1) | (1) |
|  |  |  |  |  |  |  |  |  | $(112) | $(118) |
| **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** |
| Counterparty | Description | Description | Description | Description |  | Strike<br>Price | Strike<br>Price | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | HKD | 7.850 | 7.850 | 3500 | $(2) | $(1) |

---

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  |  | 7.850 | 7.850 | 08/24/2026 | 5300 |  | (2) | (2) | (2) | (2) |
|  |  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | KRW | 1383.000 | 1383.000 | 02/12/2026 | 440 |  | (1) | (1) | (1) | (1) |
|  |  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | Put - OTC USD versus ZAR  | ZAR | ZAR | 17.000 | 17.000 | 08/19/2026 | 2050 |  | (43) | (43) | (77) | (77) |
| BRC | BRC | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | KRW | 1385.000 | 1385.000 | 02/12/2026 | 150 |  | 0 | 0 | 0 | 0 |
| GLM | GLM | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | Put - OTC USD versus BRL  | BRL | BRL | 5.160 | 5.160 | 02/04/2026 | 610 |  | (2) | (2) | 0 | 0 |
|  |  | Call - OTC USD versus BRL  | Call - OTC USD versus BRL  | Call - OTC USD versus BRL  | Call - OTC USD versus BRL  | Call - OTC USD versus BRL  | Call - OTC USD versus BRL  |  |  | 5.680 | 5.680 | 02/04/2026 | 610 |  | (8) | (8) | (5) | (5) |
|  |  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | HKD | HKD | 7.850 | 7.850 | 08/14/2026 | 1000 |  | 0 | 0 | 0 | 0 |
| MBC | MBC | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  |  | 7.850 | 7.850 | 08/14/2026 | 1800 |  | (1) | (1) | (1) | (1) |
|  |  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  | Call - OTC USD versus HKD  |  |  | 7.850 | 7.850 | 08/24/2026 | 2000 |  | (1) | (1) | (1) | (1) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (60) | (60) | $(88) | (88) |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Counterparty | Description | Floating Rate<br>Index | Floating Rate<br>Index | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Pay/Receive<br>Floating Rate | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> |  | Premiums<br>(Received) | Premiums<br>(Received) | Market<br>Value | Market<br>Value |
| BOA | BOA | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.617% | 3.617% | 03/02/2026 | 03/02/2026 | 2700 | $ | (15) | (15) | $(17) | (17) |
|  |  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.646 | 3.646 | 04/15/2026 | 04/15/2026 | 1700 |  | (13) | (13) | (15) | (15) |
| BPS | BPS | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.622 | 3.622 | 01/29/2026 | 01/29/2026 | 200 |  | 0 | 0 | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.882 | 3.882 | 01/29/2026 | 01/29/2026 | 200 |  | 0 | 0 | (1) | (1) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 4.066 | 4.066 | 02/05/2026 | 02/05/2026 | 1000 |  | (2) | (2) | (1) | (1) |
| DUB | DUB | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.689 | 3.689 | 01/02/2026 | 01/02/2026 | 2100 |  | (8) | (8) | 0 | 0 |
|  |  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.742 | 3.742 | 03/24/2026 | 03/24/2026 | 2700 |  | (13) | (13) | (13) | (13) |
|  |  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.674 | 3.674 | 04/27/2026 | 04/27/2026 | 2400 |  | (17) | (17) | (20) | (20) |
| FAR | FAR | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.707 | 3.707 | 03/18/2026 | 03/18/2026 | 3400 |  | (16) | (16) | (18) | (18) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.580 | 3.580 | 01/05/2026 | 01/05/2026 | 300 |  | (1) | (1) | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.860 | 3.860 | 01/05/2026 | 01/05/2026 | 300 |  | (1) | (1) | 0 | 0 |
| GLM | GLM | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.578 | 3.578 | 01/12/2026 | 01/12/2026 | 200 |  | 0 | 0 | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.878 | 3.878 | 01/12/2026 | 01/12/2026 | 200 |  | 0 | 0 | 0 | 0 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.648 | 3.648 | 01/15/2026 | 01/15/2026 | 200 |  | (1) | (1) | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.928 | 3.928 | 01/15/2026 | 01/15/2026 | 200 |  | (1) | (1) | 0 | 0 |
| JPM | JPM | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.560 | 3.560 | 04/28/2026 | 04/28/2026 | 2600 |  | (24) | (24) | (32) | (32) |
| MYC | MYC | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.721 | 3.721 | 03/30/2026 | 03/30/2026 | 2700 |  | (13) | (13) | (15) | (15) |
|  |  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.674 | 3.674 | 04/27/2026 | 04/27/2026 | 200 |  | (1) | (1) | (2) | (2) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.625 | 3.625 | 01/08/2026 | 01/08/2026 | 300 |  | (1) | (1) | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.925 | 3.925 | 01/08/2026 | 01/08/2026 | 300 |  | (1) | (1) | 0 | 0 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.639 | 3.639 | 01/12/2026 | 01/12/2026 | 200 |  | (1) | (1) | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.919 | 3.919 | 01/12/2026 | 01/12/2026 | 200 |  | 0 | 0 | 0 | 0 |
| NGF | NGF | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.639 | 3.639 | 01/12/2026 | 01/12/2026 | 200 |  | 0 | 0 | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.919 | 3.919 | 01/12/2026 | 01/12/2026 | 200 |  | 0 | 0 | 0 | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (129) | (129) | $(134) | (134) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **(301)** | **(301)** | $**(340)** | **(340)** |
| **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 - 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>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> |
| Counterparty | Reference Entity | Reference Entity | Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| GST | Soft Bank Group,Inc.  | Soft Bank Group,Inc.  | Soft Bank Group,Inc.  | 1.000% | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 1.706% | 1.706% | 1.706% | $100 | $(1) | (1) | $1 | $0 | 0 | $0 |

---

------

<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> |
| Counterparty | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date |  | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) |  | Asset |  | Liability |
| BOA | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000% | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | EUR | 560 | 126 | $ | 6 | $ | 132 | $ | 0 |
| BPS | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 |  | 1190 | 274 |  | 7 |  | 281 |  | 0 |
| CBK | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 |  | 840 | 191 |  | 7 |  | 198 |  | 0 |
| JPM | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 |  | 1820 | 421 |  | 8 |  | 429 |  | 0 |
| MYC | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | iTraxx Crossover 44 5-Year 35-100% Index  | 5.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 |  | 290 | 67 |  | 1 |  | 68 |  | 0 |
| SAL | CMBX.NA.AAA.16 Index  | CMBX.NA.AAA.16 Index  | CMBX.NA.AAA.16 Index  | CMBX.NA.AAA.16 Index  | CMBX.NA.AAA.16 Index  | 0.500 | Monthly | Monthly | 04/17/2065 | 04/17/2065 | $ | 600 | (9) |  | 6 |  | 0 |  | (3) |
|  |  |  |  |  |  |  |  |  |  |  |  |  | $1070 | 1070 | $35 | 35 | $1108 | 1108 | $(3) |
| **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** | **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> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Pay/Receive<sup>(6)</sup> | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | &nbsp;&nbsp; Financing Rate | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| &nbsp;&nbsp; BOA | &nbsp;&nbsp; BOA | Pay | S&P 500 Total Return Index  | 196 | &nbsp;&nbsp; 4.375% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.375% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.375% (SOFR plus a specified spread) | Monthly | Monthly | 02/04/2026 | 02/04/2026 | $2983 | $0 | 0 | $12 | 12 | $12 | 12 | $0 |
|  |  | Receive | RU20INTR Index  | 368 | &nbsp;&nbsp; 4.140% (SOFR less a specified spread) | &nbsp;&nbsp; 4.140% (SOFR less a specified spread) | &nbsp;&nbsp; 4.140% (SOFR less a specified spread) | Monthly | Monthly | 12/09/2026 | 12/09/2026 | 5006 | 0 | 0 | (17) | (17) | 0 | 0 | (17) |
| &nbsp;&nbsp; BPS | &nbsp;&nbsp; BPS | Receive | RADMFENT Index  | 503 | &nbsp;&nbsp; 4.320% (FEDL01 plus a specified spread) | &nbsp;&nbsp; 4.320% (FEDL01 plus a specified spread) | &nbsp;&nbsp; 4.320% (FEDL01 plus a specified spread) | Monthly | Monthly | 02/04/2026 | 02/04/2026 | 1056 | 0 | 0 | (4) | (4) | 0 | 0 | (4) |
|  |  | Receive | RADMFENT Index  | 1268 | &nbsp;&nbsp; 4.370% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.370% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.370% (SOFR plus a specified spread) | Monthly | Monthly | 03/04/2026 | 03/04/2026 | 2662 | 0 | 0 | (10) | (10) | 0 | 0 | (10) |
|  |  | Receive | RADMFENT Index  | 1492 | &nbsp;&nbsp; 4.290% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.290% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.290% (SOFR plus a specified spread) | Monthly | Monthly | 04/15/2026 | 04/15/2026 | 3132 | 0 | 0 | (11) | (11) | 0 | 0 | (11) |
|  |  | Receive | RADMFENT Index  | 4296 | &nbsp;&nbsp; 4.220% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.220% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.220% (SOFR plus a specified spread) | Monthly | Monthly | 05/20/2026 | 05/20/2026 | 9019 | 0 | 0 | (33) | (33) | 0 | 0 | (33) |
|  |  | Receive | RADMFENT Index  | 511 | &nbsp;&nbsp; 4.140% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.140% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.140% (SOFR plus a specified spread) | Monthly | Monthly | 11/04/2026 | 11/04/2026 | 1221 | 0 | 0 | (4) | (4) | 0 | 0 | (4) |
| &nbsp;&nbsp; CIB | &nbsp;&nbsp; CIB | Receive | RU20INTR Index  | 309 | &nbsp;&nbsp; 4.020% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.020% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.020% (SOFR plus a specified spread) | Monthly | Monthly | 07/08/2026 | 07/08/2026 | 4204 | 0 | 0 | (14) | (14) | 0 | 0 | (14) |
| &nbsp;&nbsp; FAR | &nbsp;&nbsp; FAR | Pay | S&P 500 Total Return Index  | 767 | &nbsp;&nbsp; 4.460% (FEDL01 plus a specified spread) | &nbsp;&nbsp; 4.460% (FEDL01 plus a specified spread) | &nbsp;&nbsp; 4.460% (FEDL01 plus a specified spread) | Monthly | Monthly | 01/07/2026 | 01/07/2026 | 11674 | 0 | 0 | 42 | 42 | 42 | 42 | 0 |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | Pay | S&P 500 Total Return Index  | 36 | &nbsp;&nbsp; 4.420% (FEDL01 plus a specified spread) | &nbsp;&nbsp; 4.420% (FEDL01 plus a specified spread) | &nbsp;&nbsp; 4.420% (FEDL01 plus a specified spread) | Monthly | Monthly | 02/04/2026 | 02/04/2026 | 548 | 0 | 0 | 2 | 2 | 2 | 2 | 0 |
|  |  | Pay | S&P 500 Total Return Index  | 251 | &nbsp;&nbsp; 4.310% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.310% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.310% (SOFR plus a specified spread) | Monthly | Monthly | 04/01/2026 | 04/01/2026 | 3820 | 0 | 0 | 15 | 15 | 15 | 15 | 0 |
|  |  | Receive | RADMFXNT Index  | 200 | &nbsp;&nbsp; 3.990% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.990% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.990% (SOFR plus a specified spread) | Monthly | Monthly | 05/20/2026 | 05/20/2026 | 478 | 0 | 0 | (2) | (2) | 0 | 0 | (2) |
|  |  | Receive | RADMFENT Index  | 724 | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | Monthly | Monthly | 06/03/2026 | 06/03/2026 | 1729 | 0 | 0 | (6) | (6) | 0 | 0 | (6) |
|  |  | Receive | RADMFENT Index  | 2099 | &nbsp;&nbsp; 4.380% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.380% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.380% (SOFR plus a specified spread) | Monthly | Monthly | 06/03/2026 | 06/03/2026 | 4406 | 0 | 0 | (16) | (16) | 0 | 0 | (16) |
|  |  | Receive | NDDUEAFE Index  | 2251 | &nbsp;&nbsp; 3.975% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.975% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.975% (SOFR plus a specified spread) | Monthly | Monthly | 07/08/2026 | 07/08/2026 | 23871 | 0 | 0 | (81) | (81) | 0 | 0 | (81) |
|  |  | Receive | RADMFENT Index  | 3159 | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.000% (SOFR plus a specified spread) | Monthly | Monthly | 07/08/2026 | 07/08/2026 | 7545 | 0 | 0 | (26) | (26) | 0 | 0 | (26) |
|  |  | Receive | RADMFENT Index  | 9293 | &nbsp;&nbsp; 4.340% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.340% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.340% (SOFR plus a specified spread) | Monthly | Monthly | 07/08/2026 | 07/08/2026 | 19509 | 0 | 0 | (71) | (71) | 0 | 0 | (71) |
|  |  | Receive | RADMFENT Index  | 37 | &nbsp;&nbsp; 3.710% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.710% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.710% (SOFR plus a specified spread) | Monthly | Monthly | 07/15/2026 | 07/15/2026 | 102 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  | Receive | RADMFENT Index  | 5916 | &nbsp;&nbsp; 3.990% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.990% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.990% (SOFR plus a specified spread) | Monthly | Monthly | 07/15/2026 | 07/15/2026 | 14130 | 0 | 0 | (48) | (48) | 0 | 0 | (48) |
|  |  | Receive | ERADXULN Index  | 682 | &nbsp;&nbsp; 4.090% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.090% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.090% (SOFR plus a specified spread) | Monthly | Monthly | 09/23/2026 | 09/23/2026 | 1737 | 0 | 0 | (6) | (6) | 0 | 0 | (6) |
|  |  | Receive | ERAUSLT Index  | 1839 | &nbsp;&nbsp; 4.230% (SOFR less a specified spread) | &nbsp;&nbsp; 4.230% (SOFR less a specified spread) | &nbsp;&nbsp; 4.230% (SOFR less a specified spread) | Monthly | Monthly | 12/09/2026 | 12/09/2026 | 15174 | 0 | 0 | (52) | (52) | 0 | 0 | (52) |

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; MEI | &nbsp;&nbsp; MEI | Receive | ERAEMLT Index  | 172 | &nbsp;&nbsp; 4.905% (SOFR plus a specified spread) | Monthly | 03/04/2026 | 1076 | 0 | (5) | (5) | 0 | (5) |
|  |  | Receive | ERAEMLN Index  | 6487 | &nbsp;&nbsp; 4.330% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 17423 | 0 | (64) | (64) | 0 | (64) |
|  |  | Receive | ERAEMLN Index  | 1291 | &nbsp;&nbsp; 4.290% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 3467 | 0 | (13) | (13) | 0 | (13) |
|  |  | Receive | ERADXULN Index  | 1173 | &nbsp;&nbsp; 3.965% (SOFR plus a specified spread) | Monthly | 08/19/2026 | 2987 | 0 | (10) | (10) | 0 | (10) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | Receive | ERAUSLT Index  | 30 | &nbsp;&nbsp; 4.150% (SOFR plus a specified spread) | Monthly | 03/11/2026 | 248 | 0 | 0 | 0 | 0 | 0 |
|  |  | Receive | ERADXULT Index  | 1340 | &nbsp;&nbsp; 4.655% (SOFR plus a specified spread) | Monthly | 04/01/2026 | 4715 | 0 | (18) | (18) | 0 | (18) |
|  |  | Receive | NDDUEAFE Index  | 568 | &nbsp;&nbsp; 3.980% (SOFR plus a specified spread) | Monthly | 05/20/2026 | 6024 | 0 | (20) | (20) | 0 | (20) |
|  |  | Receive | ERADXULN Index  | 3775 | &nbsp;&nbsp; 3.920% (SOFR plus a specified spread) | Monthly | 06/03/2026 | 9613 | 0 | (32) | (32) | 0 | (32) |
|  |  | Receive | NDDUEAFE Index  | 1434 | &nbsp;&nbsp; 3.990% (SOFR plus a specified spread) | Monthly | 06/03/2026 | 15207 | 0 | (52) | (52) | 0 | (52) |
|  |  | Receive | NDDUEAFE Index  | 60 | &nbsp;&nbsp; 4.055% (SOFR plus a specified spread) | Monthly | 11/18/2026 | 636 | 0 | (2) | (2) | 0 | (2) |
|  |  |  |  |  |  |  |  |  | 0 | $(546) | (546) | $71 | $(617) |
| **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** | **1069** | $**(510)** | **(510)** | $**1179** | $**(620)** |
| **(i)** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,208 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| <sup>(2)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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 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 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 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 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 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 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 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 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 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 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 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 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 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. |
| <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. |
| <sup>(6)</sup> | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | 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** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | 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 12/31/2025 | Fair Value<br>at 12/31/2025 |  |
| **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** | **Investments in Securities, at Value** |  |
| 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 |  |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | $0 | 0 | $3848 | $0 | 0 | $ | 3848 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 1652 | 0 | 0 |  | 1652 |  |
| Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | 0 | 0 | 1311 | 0 | 0 |  | 1311 |  |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |  |
| Washington | Washington | Washington | Washington | Washington | Washington | 0 | 0 | 344 | 0 | 0 |  | 344 |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 | 178626 | 0 | 0 |  | 178626 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 | 5504 | 0 | 0 |  | 5504 |  |
| 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 | Non-Agency Mortgage-Backed Securities | 0 | 0 | 31670 | 0 | 0 |  | 31670 |  |
| 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 |  |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | 0 | 0 | 2776 | 0 | 0 |  | 2776 |  |
| CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | 0 | 0 | 2476 | 0 | 0 |  | 2476 |  |
| Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | 0 | 0 | 5514 | 0 | 0 |  | 5514 |  |
| Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | 0 | 0 | 296 | 0 | 0 |  | 296 |  |
| Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | 0 | 0 | 22964 | 0 | 0 |  | 22964 |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 | 23338 | 0 | 0 |  | 23338 |  |
| Exchange-Traded Funds | Exchange-Traded Funds | Exchange-Traded Funds | Exchange-Traded Funds | Exchange-Traded Funds | Exchange-Traded Funds | 19062 | 19062 | 0 | 0 | 0 |  | 19062 |  |
| 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 | Short-Term Instruments |  |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 | 13200 | 0 | 0 |  | 13200 |  |
| Short-Term Notes | Short-Term Notes | Short-Term Notes | Short-Term Notes | Short-Term Notes | Short-Term Notes | 0 | 0 | 1777 | 0 | 0 |  | 1777 |  |
| South Africa Treasury Bills | South Africa Treasury Bills | South Africa Treasury Bills | South Africa Treasury Bills | South Africa Treasury Bills | South Africa Treasury Bills | 0 | 0 | 70 | 0 | 0 |  | 70 |  |

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<br> Schedule of Investments PIMCO All Authority: Multi-RAE PLUS Fund (Cont.) December 31, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | $19062 | $295366 | $0 | $314428 |
| **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 | $8163 | $0 | $0 | $8163 |
| Total Investments | $27225 | $295366 | $0 | $322591 |
| **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  |
| U.S. Government Agencies | $0 | $(25910) | $0 | $(25910) |
| **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 | 187 | 248 | 0 | 435 |
| Over the counter | 0 | 5872 | 0 | 5872 |
|  | $187 | $6120 | $0 | $6307 |
| **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 | (16) | (162) | 0 | (178) |
| Over the counter | 0 | (2703) | 0 | (2703) |
|  | $(16) | $(2865) | $0 | $(2881) |
| Total Financial Derivative Instruments | $171 | $3255 | $0 | $3426 |
| Totals | $27396 | $272711 | $0 | $300107 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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------

<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio December 31, 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 92.4% ¤** |  |  |
| **BRAZIL 3.0%**  |  |  |
| **CORPORATE BONDS & NOTES 0.7%**  |  |  |
| **Brazil Minas SPE via State of Minas Gerais** <br>5.333% due 02/15/2028 | $3420 | $3439 |
| **SOVEREIGN ISSUES 2.3%**  |  |  |
| **Brazil Government International Bonds**  |  |  |
| 6.000% due 04/07/2026  | 200 | 201 |
| 7.125% due 05/13/2054  | 2396 | 2377 |
| 7.250% due 01/12/2056  | 8258 | 8199 |
|  |  | 10777 |
| Total Brazil (Cost $14,038) |  | 14216 |
| **CAYMAN ISLANDS 0.3%**  |  |  |
| **CORPORATE BONDS & NOTES 0.3%**  |  |  |
| **Kona Spc Ltd.** <br>5.718% due 09/15/2026 «•  | 1000 | 1180 |
| Total Cayman Islands (Cost $1,170) |  | 1180 |
| **CHILE 1.5%**  |  |  |
| **CORPORATE BONDS & NOTES 0.5%**  |  |  |
| **Empresa de Transporte de Pasajeros Metro SA**  |  |  |
| 3.650% due 05/07/2030  | $500 | 486 |
| 4.700% due 05/07/2050  | 2000 | 1784 |
|  |  | 2270 |
| **SOVEREIGN ISSUES 1.0%**  |  |  |
| **Chile Government International Bonds**  |  |  |
| 3.100% due 01/22/2061  | 500 | 311 |
| 4.340% due 03/07/2042  | 5000 | 4460 |
|  |  | 4771 |
| Total Chile (Cost $7,808) |  | 7041 |
| **COLOMBIA 11.3%**  |  |  |
| **CORPORATE BONDS & NOTES 0.6%**  |  |  |
| **Ecopetrol SA** <br>8.375% due 01/19/2036 | $2700 | 2780 |
| **SOVEREIGN ISSUES 10.7%**  |  |  |
| **Colombia Government International Bonds**  |  |  |
| 3.125% due 04/15/2031  | 200 | 174 |
| 3.875% due 04/25/2027  | 12800 | 12699 |
| 8.000% due 04/20/2033  | 8000 | 8616 |
| 8.000% due 11/14/2035  | 624 | 666 |
| **Colombia TES**  |  |  |
| 11.000% due 08/22/2029  | 28613400 | 7161 |
| 11.750% due 01/24/2035  | 27226300 | 6713 |
| 12.750% due 11/28/2040  | 28677300 | 7446 |
| 13.250% due 02/09/2033  | 24977600 | 6701 |
|  |  | 50176 |
| Total Colombia (Cost $51,551) |  | 52956 |
| **DOMINICAN REPUBLIC 0.6%**  |  |  |
| **SOVEREIGN ISSUES 0.6%**  |  |  |
| **Dominican Republic International Bonds**  |  |  |
| 4.875% due 09/23/2032  | $2500 | 2412 |
| 5.950% due 01/25/2027  | 200 | 202 |

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<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Dominican Republic (Cost $2,818) |  | <br> 2614 |
| **INDIA 0.4%**  |  |  |
| **CORPORATE BONDS & NOTES 0.4%**  |  |  |
| **Adani Renewable Energy RJ Ltd./Kodangal Solar Parks Pvt Ltd./Wardha Solar Maharashtra** <br>4.625% due 10/15/2039 | $986 | 839 |
| **Adani Transmission Step-One Ltd.** <br>4.000% due 08/03/2026 | 1000 | 993 |
| Total India (Cost $1,969) |  | 1832 |
| **INDONESIA 2.3%**  |  |  |
| **CORPORATE BONDS & NOTES 0.0%**  |  |  |
| **Pelabuhan Indonesia Persero PT** <br>5.375% due 05/05/2045 | $200 | 190 |
| **SOVEREIGN ISSUES 2.3%**  |  |  |
| **Indonesia Government International Bonds**  |  |  |
| 3.500% due 02/14/2050  | 2000 | 1472 |
| 4.750% due 07/18/2047  | 755 | 707 |
| 5.125% due 01/15/2045  | 1865 | 1849 |
| 5.250% due 01/17/2042  | 500 | 504 |
| 5.250% due 01/08/2047  | 1249 | 1248 |
| 5.950% due 01/08/2046  | 918 | 980 |
| 6.750% due 01/15/2044  | 2400 | 2783 |
| 7.750% due 01/17/2038  | 1025 | 1284 |
|  |  | 10827 |
| Total Indonesia (Cost $12,958) |  | 11017 |
| **ISRAEL 3.1%**  |  |  |
| **SOVEREIGN ISSUES 3.1%**  |  |  |
| **Israel Government International Bonds**  |  |  |
| 3.875% due 07/03/2050  | $5000 | 3677 |
| 5.500% due 03/12/2034  | 7000 | 7261 |
| **State of Israel** <br>3.375% due 01/15/2050 | 5400 | 3636 |
| Total Israel (Cost $18,465) |  | 14574 |
| **IVORY COAST 1.1%**  |  |  |
| **SOVEREIGN ISSUES 1.1%**  |  |  |
| **Ivory Coast Government International Bonds**  |  |  |
| 5.250% due 03/22/2030  | 2300 | 2714 |
| 5.875% due 10/17/2031  | 2000 | 2370 |
| Total Ivory Coast (Cost $4,787) |  | 5084 |
| **KUWAIT 1.9%**  |  |  |
| **SOVEREIGN ISSUES 1.9%**  |  |  |
| **Kuwait International Government Bonds**  |  |  |
| 4.016% due 10/09/2028  | $3000 | 3008 |
| 4.136% due 10/09/2030  | 3000 | 3006 |
| 4.652% due 10/09/2035  | 3000 | 3003 |
| Total Kuwait (Cost $9,000) |  | 9017 |
| **LUXEMBOURG 4.3%**  |  |  |
|  | SHARES |  |
| **COMMON STOCKS 0.8%**  |  |  |
| **Drillco Holdings Luxembourg SA «(e)** | 123735 | 2792 |

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<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Foresea Holdings SA «** | 48750 | 1100 |
|  |  | 3892 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **CORPORATE BONDS & NOTES 2.4%**  |  |  |
| **FORESEA Holding SA** <br>7.500% due 06/15/2030 | $2149 | 2121 |
| **Greensaif Pipelines Bidco SARL**  |  |  |
| 5.853% due 02/23/2036  | 200 | 209 |
| 6.103% due 08/23/2042  | 3300 | 3443 |
| 6.510% due 02/23/2042  | 5000 | 5467 |
|  |  | 11240 |
| **SOVEREIGN ISSUES 1.1%**  |  |  |
| **Eagle Funding Luxco SARL** <br>5.500% due 08/17/2030 | 5000 | 5099 |
| Total Luxembourg (Cost $17,791) |  | 20231 |
| **MALAYSIA 0.8%**  |  |  |
| **CORPORATE BONDS & NOTES 0.8%**  |  |  |
| **Petronas Capital Ltd.**  |  |  |
| 3.500% due 04/21/2030  | $2500 | 2436 |
| 4.550% due 04/21/2050  | 500 | 441 |
| 4.800% due 04/21/2060  | 200 | 181 |
| **Petronas Energy Canada Ltd.** <br>2.112% due 03/23/2028 | 500 | 481 |
| Total Malaysia (Cost $3,760) |  | 3539 |
| **MEXICO 6.7%**  |  |  |
| **CORPORATE BONDS & NOTES 1.4%**  |  |  |
| **Coca-Cola Femsa SAB de CV** <br>1.850% due 09/01/2032 | $2150 | 1822 |
| **Petroleos Mexicanos**  |  |  |
| 6.700% due 02/16/2032  | 498 | 497 |
| 7.690% due 01/23/2050  | 500 | 448 |
| 10.000% due 02/07/2033  | 3100 | 3594 |
|  |  | 6361 |
| **SOVEREIGN ISSUES 5.3%**  |  |  |
| **Mexico Government International Bonds**  |  |  |
| 1.350% due 09/18/2027  | 300 | 345 |
| 3.500% due 09/19/2029  | 1500 | 1759 |
| 4.500% due 03/19/2034  | 1500 | 1757 |
| 5.000% due 04/27/2051  | $3300 | 2661 |
| 5.125% due 03/19/2038  | 900 | 1052 |
| 5.375% due 03/22/2033  | $2500 | 2486 |
| 5.625% due 09/22/2035  | 2500 | 2469 |
| 6.000% due 05/07/2036  | 1200 | 1219 |
| 6.400% due 05/07/2054  | 2000 | 1928 |
| 6.625% due 01/29/2038  | 4155 | 4346 |
| 6.875% due 05/13/2037  | 4500 | 4813 |
| **Mexico Udibonos**  |  |  |
| 4.000% due 11/30/2028 (c)  | 1911 | 106 |
| 4.000% due 08/24/2034 (c)  | 523 | 28 |
|  |  | 24969 |
| Total Mexico (Cost $31,200) |  | 31330 |
| **PARAGUAY 0.2%**  |  |  |
| **SOVEREIGN ISSUES 0.2%**  |  |  |
| **Paraguay Government International Bonds** <br>4.950% due 04/28/2031 | $1000 | 1017 |
| Total Paraguay (Cost $1,095) |  | 1017 |
| **PERU 14.2%**  |  |  |
| **SOVEREIGN ISSUES 14.2%**  |  |  |
| **Peru Government Bonds**  |  |  |
| 6.850% due 08/12/2035  | 72100 | 23131 |

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<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 7.300% due 08/12/2033  | 47700 | 16194 |
| **Peru Government International Bonds**  |  |  |
| 5.875% due 08/08/2054  | $1000 | 993 |
| 6.150% due 08/12/2032  | 42570 | 13667 |
| 6.950% due 08/12/2031  | 38082 | 12597 |
| Total Peru (Cost $58,892) |  | 66582 |
| **POLAND 0.4%**  |  |  |
| **SOVEREIGN ISSUES 0.4%**  |  |  |
| **Republic of Poland Government International Bonds** <br>5.125% due 09/18/2034 | $2000 | 2053 |
| Total Poland (Cost $1,973) |  | 2053 |
| **QATAR 3.0%**  |  |  |
| **CORPORATE BONDS & NOTES 0.1%**  |  |  |
| **QatarEnergy** <br>2.250% due 07/12/2031 | $700 | 631 |
| **SOVEREIGN ISSUES 2.9%**  |  |  |
| **Qatar Government International Bonds**  |  |  |
| 3.750% due 04/16/2030  | 4100 | 4067 |
| 4.400% due 04/16/2050  | 7000 | 6206 |
| 4.817% due 03/14/2049  | 1200 | 1134 |
| 5.103% due 04/23/2048  | 2000 | 1979 |
|  |  | 13386 |
| Total Qatar (Cost $14,641) |  | 14017 |
| **ROMANIA 5.0%**  |  |  |
| **SOVEREIGN ISSUES 5.0%**  |  |  |
| **Romania Government International Bonds**  |  |  |
| 2.000% due 01/28/2032  | 3000 | 3016 |
| 2.000% due 04/14/2033  | 3000 | 2869 |
| 3.624% due 05/26/2030  | 3000 | 3473 |
| 5.375% due 03/22/2031  | 3000 | 3673 |
| 5.375% due 06/07/2033  | 2000 | 2376 |
| 5.625% due 05/30/2037  | 3000 | 3436 |
| 6.125% due 10/07/2037  | 1000 | 1182 |
| 6.500% due 10/07/2045  | 1500 | 1755 |
| 7.500% due 02/10/2037  | $1500 | 1663 |
| Total Romania (Cost $21,196) |  | 23443 |
| **SAUDI ARABIA 8.5%**  |  |  |
| **CORPORATE BONDS & NOTES 2.1%**  |  |  |
| **Saudi Arabian Oil Co.**  |  |  |
| 5.250% due 07/17/2034  | $3000 | 3092 |
| 5.750% due 07/17/2054  | 3000 | 2931 |
| 5.875% due 07/17/2064  | 4000 | 3891 |
|  |  | 9914 |
| **SOVEREIGN ISSUES 6.4%**  |  |  |
| **Saudi Government International Bonds**  |  |  |
| 3.625% due 03/04/2028  | 1500 | 1489 |
| 4.750% due 01/18/2028  | 5000 | 5071 |
| 4.750% due 01/16/2030  | 5000 | 5109 |
| 4.875% due 07/18/2033  | 5000 | 5085 |
| 5.000% due 01/18/2053  | 2000 | 1783 |
| 5.125% due 01/13/2028  | 3000 | 3066 |
| 5.375% due 01/13/2031  | 500 | 524 |
| 5.750% due 01/16/2054  | 8000 | 7920 |
|  |  | 30047 |
| Total Saudi Arabia (Cost $39,326) |  | 39961 |
| **SERBIA 3.0%**  |  |  |
| **SOVEREIGN ISSUES 3.0%**  |  |  |
| **Serbia International Bonds**  |  |  |
| 1.000% due 09/23/2028  | 3000 | 3293 |
| 1.500% due 06/26/2029  | 5400 | 5894 |
| 1.650% due 03/03/2033  | 150 | 148 |
| 2.050% due 09/23/2036  | 2500 | 2292 |
| 3.125% due 05/15/2027  | 1900 | 2224 |

---

------

<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Serbia (Cost $15,058) |  | <br> 13851 |
| **SOUTH AFRICA 13.0%**  |  |  |
| **SOVEREIGN ISSUES 13.0%**  |  |  |
| **Republic of South Africa Government Bonds**  |  |  |
| 7.000% due 02/28/2031  | 140200 | 8283 |
| 8.500% due 01/31/2037  | 493700 | 29638 |
| 8.875% due 02/28/2035  | 293700 | 18509 |
| **Republic of South Africa Government International Bonds**  |  |  |
| 5.750% due 09/30/2049  | $400 | 337 |
| 7.100% due 11/19/2036  | 2000 | 2150 |
| 7.950% due 11/19/2054  | 2000 | 2155 |
| Total South Africa (Cost $52,393) |  | 61072 |
| **TURKEY 1.2%**  |  |  |
| **SOVEREIGN ISSUES 1.2%**  |  |  |
| **Turkiye Government International Bonds** <br>7.625% due 05/15/2034 | $5000 | 5444 |
| Total Turkey (Cost $4,925) |  | 5444 |
| **UNITED ARAB EMIRATES 1.1%**  |  |  |
| **CORPORATE BONDS & NOTES 0.4%**  |  |  |
| **Adnoc Murban Rsc Ltd.** <br>4.250% due 09/11/2029 | $2000 | 2014 |
| **SOVEREIGN ISSUES 0.7%**  |  |  |
| **Abu Dhabi Government International Bonds**  |  |  |
| 2.700% due 09/02/2070  | 4500 | 2531 |
| 3.875% due 04/16/2050  | 793 | 639 |
|  |  | 3170 |
| Total United Arab Emirates (Cost $7,365) |  | 5184 |
| **UNITED STATES 4.6%**  |  |  |
| **ASSET-BACKED SECURITIES 0.0%**  |  |  |
| **GSAA Home Equity Trust** <br>4.446% due 03/25/2037 •  | $166 | 66 |
| **Morgan Stanley Mortgage Loan Trust** <br>4.566% due 04/25/2037 •  | 195 | 52 |
|  |  | 118 |
| **CORPORATE BONDS & NOTES 0.4%**  |  |  |
| **Rio Oil Finance Trust**  |  |  |
| 8.200% due 04/06/2028  | 285 | 295 |
| 9.750% due 01/06/2027  | 1303 | 1345 |
|  |  | 1640 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 0.1%**  |  |  |
| **Banc of America Mortgage Trust** <br>4.832% due 02/25/2036 ~ | 3 | 3 |
| **Chase Mortgage Finance Trust** <br>4.613% due 03/25/2037 ~ | 10 | 9 |
| **CHL Mortgage Pass-Through Trust** <br>4.530% due 09/25/2047 ~ | 4 | 4 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 5.044% due 07/25/2046 ~  | 7 | 6 |
| 6.746% due 03/25/2034 ~  | 1 | 1 |
| **Luminent Mortgage Trust** <br>4.206% due 12/25/2036 •  | 3 | 3 |
| **MASTR Adjustable Rate Mortgages Trust** <br>4.326% due 05/25/2037 •  | 79 | 32 |
| **Merrill Lynch Alternative Note Asset Trust**  |  |  |
| 4.446% due 03/25/2037 •  | 208 | 49 |
| 4.576% due 06/25/2037 ~  | 73 | 32 |
| **Merrill Lynch Mortgage-Backed Securities Trust** <br>4.030% due 04/25/2037 ~ | 13 | 11 |
| **Morgan Stanley Mortgage Loan Trust** <br>5.782% due 06/25/2036 ~ | 2 | 2 |
| **Sequoia Mortgage Trust** <br>4.597% due 01/20/2047 ~ | 4 | 3 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 3.410% due 05/25/2037 ~  | 17 | 14 |
| 3.664% due 01/25/2037 ~  | 13 | 11 |

---

------

<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 3.670% due 04/25/2037 ~  | 9 | 8 |
| 4.146% due 12/25/2036 ~  | 29 | 28 |
| 4.271% due 12/25/2036 ~  | 8 | 8 |
| 4.473% due 09/25/2036 ~  | 12 | 11 |
|  |  | 235 |
| **U.S. TREASURY OBLIGATIONS 4.1%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 4.625% due 05/15/2054 (g)(i) | 20000 | 19267 |
| Total United States (Cost $21,969) |  | 21260 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.9%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.850% (d) | 548209 | 548 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.8%**  |  |  |
| 3.705% due 01/27/2026 - 04/21/2026 (a)(b)(i) | $3838 | 3806 |
| Total Short-Term Instruments (Cost $4,353) |  | 4354 |
| Total Investments in Securities (Cost $420,501) |  | 432869 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 5.4%**  |  |  |
| **SHORT-TERM INSTRUMENTS 5.4%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 5.4%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 2600430 | 25331 |
| Total Short-Term Instruments (Cost $25,316) |  | 25331 |
| Total Investments in Affiliates (Cost $25,316) |  | 25331 |
| Total Investments 97.8% (Cost $445,817) |  | $458200 |
| **Financial Derivative Instruments (f)(h) 0.4**%(Cost or Premiums, net $(976)) |  | 1782 |
| Other Assets and Liabilities, net 1.8% |  | 8591 |
| Net Assets 100.0% |  | $468573 |

---

------

<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 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.** |
| **«** | **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).** | **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.** | **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.** | **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.** |
| **(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.** | **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.** | **Zero coupon security.** |
| **(c)** | **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.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** |
| **(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.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **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 | Issuer Description |  |  | Acquisition<br>Date | Acquisition<br>Date | Cost | Cost |  | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
| Drillco Holdings Luxembourg SA | Drillco Holdings Luxembourg SA | Drillco Holdings Luxembourg SA | Drillco Holdings Luxembourg SA |  |  | 06/08/2023 | 06/08/2023 | 2475 | 2475 | $ | 2792 | 0.60% |
| **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** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **The average amount of borrowings outstanding during the period ended December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. 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 December 31, 2025 was $(1071) at a weighted average interest rate of 4.464%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** |
| **(f)** | **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** | **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:** | **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** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description |  | Expiration<br>Month | 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 | Asset | Liability |
| Canada Government 10-Year Bond March Futures  | Canada Government 10-Year Bond March Futures  | Canada Government 10-Year Bond March Futures  | 03/2026 | 03/2026 | 124 | 10923 | $(114) | (114) | (114) | 0 | 0 | (26) |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 03/2026 | 123 | 13444 | (1) | (1) | (1) | 0 | 0 | (14) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 68 | 7646 | (14) | (14) | (14) | 0 | 0 | (14) |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 03/2026 | 29 | 3422 | 1 | 1 | 1 | 0 | 0 | (11) |
|  |  |  |  |  |  |  | (128) | (128) | $ | 0 | $ | (65) |
| **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> |
| Description | Description |  | Expiration<br>Month | 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 | Asset | Liability |
| Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | 03/2026 | 03/2026 | 13 | (1949) | $27 | 27 | 27 | 4 | 4 | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **(101)** | **(101)** | **$** | **4** | **$** | **(65)** |
| **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 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> | **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>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date |  | Notional<br>Amount<sup>(2)</sup> | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(3)</sup> | Market<br>Value<sup>(3)</sup> | Asset | Liability |
| iTraxx Asia ex-Japan 44 5-Year Index  | Quarterly | 12/20/2030 | 12/20/2030 | $ | 1800 | 31 | (2) | (2) | 29 | 29 | 0 | 0 |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date |  | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Asset | Liability |
| Pay | Maturity | 01/04/2027 | 01/04/2027 | BRL | 38500 | 0 | (554) | (554) | (554) | (554) | 0 | $0 |

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<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 10.145 | Maturity | Maturity | 01/04/2027 |  | 32100 |  | 0 |  | (680) |  | (680) |  | 0 | 0 |  | (1) |
| Pay | Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 10.231 | Maturity | Maturity | 01/04/2027 |  | 132400 |  | 0 |  | (2711) |  | (2711) |  | 0 | 0 |  | (2) |
| Pay | Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 12.198 | Maturity | Maturity | 01/04/2027 |  | 30000 |  | 0 |  | (179) |  | (179) |  | 0 | 0 |  | 0 |
| Pay | Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 12.350 | Maturity | Maturity | 01/04/2027 |  | 101000 |  | 0 |  | (496) |  | (496) |  | 0 | 0 |  | 0 |
| Pay | Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.927 | Maturity | Maturity | 01/04/2027 |  | 2000 |  | 0 |  | (2) |  | (2) |  | 0 | 0 |  | 0 |
| Pay | Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.291 | Maturity | Maturity | 01/02/2029 |  | 1000 |  | 0 |  | (1) |  | (1) |  | 0 | 0 |  | 0 |
| Pay | Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.415 | Maturity | Maturity | 01/02/2029 |  | 441800 |  | 616 |  | (535) |  | 81 |  | 0 | 0 |  | (3) |
| Pay | Pay | 28-Day MXN-TIIE | 28-Day MXN-TIIE | 7.750 | Lunar | Lunar | 04/01/2030 | MXN | 60000 |  | 2 |  | 14 |  | 16 |  | 3 | 3 |  | 0 |
| Receive | Receive | CAONREPO | CAONREPO | 3.500 | Semi-Annual | Semi-Annual | 06/01/2032 | CAD | 16500 |  | (609) |  | 182 |  | (427) |  | 10 | 10 |  | 0 |
|  |  |  |  |  |  |  |  |  | $ | $9 | 9 | $(4962) | (4962) | $(4953) | (4953) | $13 | 13 | 13 | $(6) | (6) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | $**40** | **40** | $**(4964)** | **(4964)** | $**(4924)** | **(4924)** | $**13** | **13** | **13** | $**(6)** | **(6)** |
| **(g)** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,987 and cash of $3,451 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <sup>(1)</sup> | If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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> | The maximum potential amount the Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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>(3)</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. | 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. |
| **(h)** | **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** | **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:** | **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> | <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 | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month |  | Currency to<br>be Delivered | 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 | Asset | Asset | Liability | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | 01/2026  | 01/2026  | 01/2026  | $ | $5796 | 5796 | 5796 | JPY | 900895 | 900895 | 900895 | 0 | 0 | 0 | 0 | $(40) | (40) | (40) |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 01/2026  | 01/2026  | 01/2026  | AUD | 605 | 605 | 605 | $ | $400 | 400 | 400 | 0 | 0 | 0 | 0 | (4) | (4) | (4) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | COP | 4088543 | 4088543 | 4088543 |  | 1072 | 1072 | 1072 | 0 | 0 | 0 | 0 | (1) | (1) | (1) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | INR | 7304 | 7304 | 7304 |  | 80 | 80 | 80 | 0 | 0 | 0 | 0 | (1) | (1) | (1) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | KRW | 2452880 | 2452880 | 2452880 |  | 1686 | 1686 | 1686 | 0 | 0 | 0 | 0 | (15) | (15) | (15) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | THB | 34088 | 34088 | 34088 |  | 1053 | 1053 | 1053 | 0 | 0 | 0 | 0 | (30) | (30) | (30) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | TWD | 146005 | 146005 | 146005 |  | 4788 | 4788 | 4788 | 140 | 140 | 140 | 140 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $8688 | 8688 | 8688 | PLN | 31793 | 31793 | 31793 | 167 | 167 | 167 | 167 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 589 | 589 | 589 | TWD | 18581 | 18581 | 18581 | 3 | 3 | 3 | 3 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 2290 | 2290 | 2290 | ZAR | 38174 | 38174 | 38174 | 12 | 12 | 12 | 12 | 0 | 0 | 0 |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | COP | 1799323 | 1799323 | 1799323 | $ | $470 | 470 | 470 | 3 | 3 | 3 | 3 | (1) | (1) | (1) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | ILS | 9326 | 9326 | 9326 |  | 2927 | 2927 | 2927 | 0 | 0 | 0 | 0 | (1) | (1) | (1) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | $ | $11 | 11 | 11 | TRY | 515 | 515 | 515 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  |  | 03/2026  | 03/2026  | 03/2026  | COP | 8713872 | 8713872 | 8713872 | $ | $2268 | 2268 | 2268 | 21 | 21 | 21 | 21 | 0 | 0 | 0 |
|  |  |  | 03/2026  | 03/2026  | 03/2026  | PEN | 74140 | 74140 | 74140 |  | 21994 | 21994 | 21994 | 0 | 0 | 0 | 0 | (5) | (5) | (5) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | $ | $791 | 791 | 791 | MXN | 14576 | 14576 | 14576 | 11 | 11 | 11 | 11 | 0 | 0 | 0 |
|  |  |  | 06/2026  | 06/2026  | 06/2026  | PEN | 5623 | 5623 | 5623 | $ | $1662 | 1662 | 1662 | 0 | 0 | 0 | 0 | (1) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 01/2026  | 01/2026  | 01/2026  | AUD | 22992 | 22992 | 22992 |  | 14945 | 14945 | 14945 | 0 | 0 | 0 | 0 | (400) | (400) | (400) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | CHF | 1050 | 1050 | 1050 |  | 1333 | 1333 | 1333 | 7 | 7 | 7 | 7 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | CNH | 92714 | 92714 | 92714 |  | 13157 | 13157 | 13157 | 0 | 0 | 0 | 0 | (147) | (147) | (147) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | GBP | 1705 | 1705 | 1705 |  | 2306 | 2306 | 2306 | 7 | 7 | 7 | 7 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | ILS | 15381 | 15381 | 15381 |  | 4730 | 4730 | 4730 | 0 | 0 | 0 | 0 | (100) | (100) | (100) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | INR | 246119 | 246119 | 246119 |  | 2730 | 2730 | 2730 | 0 | 0 | 0 | 0 | (7) | (7) | (7) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | JPY | 1043500 | 1043500 | 1043500 |  | 6753 | 6753 | 6753 | 86 | 86 | 86 | 86 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | NZD | 18960 | 18960 | 18960 |  | 10773 | 10773 | 10773 | 0 | 0 | 0 | 0 | (146) | (146) | (146) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | PLN | 13537 | 13537 | 13537 |  | 3711 | 3711 | 3711 | 0 | 0 | 0 | 0 | (60) | (60) | (60) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | TWD | 489660 | 489660 | 489660 |  | 16112 | 16112 | 16112 | 521 | 521 | 521 | 521 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $12081 | 12081 | 12081 | CNH | 84625 | 84625 | 84625 | 54 | 54 | 54 | 54 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 3683 | 3683 | 3683 | EUR | 3136 | 3136 | 3136 | 4 | 4 | 4 | 4 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 681 | 681 | 681 | IDR | 11383665 | 11383665 | 11383665 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 1300 | 1300 | 1300 | INR | 117443 | 117443 | 117443 | 4 | 4 | 4 | 4 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 9554 | 9554 | 9554 | PLN | 34729 | 34729 | 34729 | 119 | 119 | 119 | 119 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 22075 | 22075 | 22075 | TWD | 692963 | 692963 | 692963 | 37 | 37 | 37 | 37 | (47) | (47) | (47) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 5059 | 5059 | 5059 | ZAR | 84352 | 84352 | 84352 | 27 | 27 | 27 | 27 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | ZAR | 35652 | 35652 | 35652 | $ | $2131 | 2131 | 2131 | 0 | 0 | 0 | 0 | (19) | (19) | (19) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | COP | 1185185 | 1185185 | 1185185 |  | 309 | 309 | 309 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | $ | $2868 | 2868 | 2868 | INR | 258387 | 258387 | 258387 | 0 | 0 | 0 | 0 | (1) | (1) | (1) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  |  | 7171 | 7171 | 7171 | TWD | 225077 | 225077 | 225077 | 0 | 0 | 0 | 0 | (14) | (14) | (14) |
|  |  |  | 03/2026  | 03/2026  | 03/2026  | TWD | 87188 | 87188 | 87188 | $ | $2807 | 2807 | 2807 | 36 | 36 | 36 | 36 | 0 | 0 | 0 |
|  |  |  | 03/2026  | 03/2026  | 03/2026  | $ | $37 | 37 | 37 | CZK | 767 | 767 | 767 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 01/2026  | 01/2026  | 01/2026  | EUR | 3635 | 3635 | 3635 | $ | $4219 | 4219 | 4219 | 0 | 0 | 0 | 0 | (55) | (55) | (55) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | ILS | 4059 | 4059 | 4059 |  | 1265 | 1265 | 1265 | 0 | 0 | 0 | 0 | (9) | (9) | (9) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $1229 | 1229 | 1229 | AUD | 1839 | 1839 | 1839 | 0 | 0 | 0 | 0 | (2) | (2) | (2) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 332 | 332 | 332 | GBP | 254 | 254 | 254 | 10 | 10 | 10 | 10 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 6899 | 6899 | 6899 | NZD | 11938 | 11938 | 11938 | 0 | 0 | 0 | 0 | (23) | (23) | (23) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 1617 | 1617 | 1617 | PLN | 5892 | 5892 | 5892 | 24 | 24 | 24 | 24 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 1515 | 1515 | 1515 | TRY | 68056 | 68056 | 68056 | 65 | 65 | 65 | 65 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | ZAR | 20750 | 20750 | 20750 | $ | $1198 | 1198 | 1198 | 0 | 0 | 0 | 0 | (53) | (53) | (53) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | ILS | 4028 | 4028 | 4028 |  | 1250 | 1250 | 1250 | 0 | 0 | 0 | 0 | (15) | (15) | (15) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | TRY | 82 | 82 | 82 |  | 2 | 2 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | $ | $2217 | 2217 | 2217 | MXN | 41095 | 41095 | 41095 | 55 | 55 | 55 | 55 | 0 | 0 | 0 |
|  |  |  | 02/2026  | 02/2026  | 02/2026  |  | 56079 | 56079 | 56079 | TRY | 2549599 | 2549599 | 2549599 | 1594 | 1594 | 1594 | 1594 | 0 | 0 | 0 |

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------

<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 03/2026  | 6737 | 124762 | 142 | 0 |
|  | 03/2026  | 4780 | 217540 | 69 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | 01/2026  | 1575 | $2082 | 0 | (41) |
|  | 01/2026  | 12971 | 3661 | 0 | (195) |
|  | 01/2026  | $3675 | 571975 | 0 | (21) |
|  | 01/2026  | 515 | 1826 | 28 | 0 |
|  | 02/2026  | 1472640 | $384 | 1 | 0 |
|  | 02/2026  | 9292 | 2658 | 0 | (103) |
|  | 03/2026  | 1755 | 502 | 0 | (18) |
|  | 04/2026  | 65689 | 18862 | 0 | (613) |
|  | 06/2026  | $542 | 1837 | 1 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 37048 | $24588 | 0 | (138) |
|  | 01/2026  | 543199 | 98720 | 0 | (408) |
|  | 01/2026  | 34 | 24 | 0 | (1) |
|  | 01/2026  | 20513368 | 5414 | 35 | (5) |
|  | 01/2026  | 6 | 2 | 0 | 0 |
|  | 01/2026  | 5333 | 3078 | 7 | 0 |
|  | 01/2026  | 10974 | 3084 | 0 | (181) |
|  | 01/2026  | 69 | 19 | 0 | 0 |
|  | 01/2026  | 2165 | 1679 | 0 | (6) |
|  | 01/2026  | 1404421 | 46247 | 1532 | 0 |
|  | 01/2026  | $3871 | 5835 | 23 | 0 |
|  | 01/2026  | 99055 | 543199 | 73 | 0 |
|  | 01/2026  | 7857 | 54851 | 13 | 0 |
|  | 01/2026  | 1227 | 4624563 | 0 | (3) |
|  | 01/2026  | 680 | 2176 | 3 | 0 |
|  | 01/2026  | 46137 | 4123503 | 36 | (405) |
|  | 01/2026  | 19670 | 34375 | 128 | 0 |
|  | 01/2026  | 3258 | 10974 | 7 | 0 |
|  | 01/2026  | 1468 | 5283 | 3 | 0 |
|  | 01/2026  | 1 | 47 | 0 | 0 |
|  | 01/2026  | 5753 | 179855 | 4 | (30) |
|  | 01/2026  | 1533 | 26016 | 36 | 0 |
|  | 02/2026  | 3913876 | $1027 | 12 | 0 |
|  | 02/2026  | 2049 | 10521 | 11 | 0 |
|  | 02/2026  | 7372 | $2319 | 4 | 0 |
|  | 02/2026  | $180 | 5625 | 0 | (1) |
|  | 03/2026  | 6293361 | $1660 | 28 | 0 |
|  | 03/2026  | 19272 | 5696 | 0 | (20) |
|  | 03/2026  | 94762 | 3045 | 32 | 0 |
|  | 04/2026  | 2240556 | 586 | 10 | 0 |
|  | 07/2026  | 9423 | 2730 | 0 | (53) |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | 01/2026  | 9623 | 1749 | 0 | (7) |
|  | 01/2026  | 6740 | 2095 | 0 | (21) |
|  | 01/2026  | 10090930 | 6893 | 0 | (105) |
|  | 01/2026  | 4111 | 2377 | 9 | 0 |
|  | 01/2026  | $1772 | 9623 | 0 | (16) |
|  | 01/2026  | 4384 | 13988 | 8 | 0 |
|  | 01/2026  | 14237 | 1267890 | 0 | (164) |
|  | 01/2026  | 7478 | 10987001 | 142 | 0 |
|  | 01/2026  | 2117 | 35583 | 30 | 0 |
|  | 01/2026  | 52619 | $3020 | 0 | (153) |
|  | 02/2026  | 18355 | 94172 | 81 | 0 |
|  | 02/2026  | 13985 | $4384 | 0 | (7) |
|  | 02/2026  | $243 | 7594 | 0 | (1) |
|  | 03/2026  | 362 | $11 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | 01/2026  | 46862 | 30438 | 0 | (838) |
|  | 01/2026  | 1175 | 1465 | 0 | (19) |
|  | 01/2026  | 46214 | 6566 | 0 | (65) |
|  | 01/2026  | 14493 | 8304 | 0 | (43) |
|  | 01/2026  | 4460 | 1311 | 0 | (15) |
|  | 01/2026  | $2321 | 7443 | 16 | 0 |
|  | 01/2026  | 2202 | 7418 | 3 | 0 |
|  | 01/2026  | 14302 | 52318 | 270 | 0 |
|  | 01/2026  | 2118 | 35534 | 25 | 0 |
|  | 01/2026  | 25641 | $1491 | 0 | (55) |
|  | 02/2026  | 7441 | 2321 | 0 | (15) |
|  | 06/2026  | 7460 | 2202 | 0 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | 01/2026  | 552353 | 99829 | 0 | (970) |
|  | 01/2026  | 7155 | 8925 | 0 | (116) |
|  | 01/2026  | 5485 | 779 | 0 | (8) |
|  | 01/2026  | 426496 | 112 | 0 | 0 |
|  | 01/2026  | 6057 | 1875 | 0 | (27) |
|  | 01/2026  | 1228 | 283 | 0 | 0 |
|  | 01/2026  | $100384 | 552353 | 415 | 0 |
|  | 01/2026  | 5624 | 39647 | 65 | 0 |
|  | 01/2026  | 916 | 82987 | 5 | 0 |
|  | 01/2026  | 9456 | 34544 | 166 | 0 |
|  | 01/2026  | 1092 | 34769 | 13 | 0 |
|  | 01/2026  | 19067 | $1106 | 0 | (44) |
|  | 02/2026  | 1520820 | 398 | 2 | 0 |
|  | 02/2026  | $3228 | 59869 | 81 | 0 |
|  | 03/2026  | 108 | $20 | 0 | 0 |
|  | 03/2026  | 590580 | 153 | 0 | 0 |
|  | 03/2026  | $18836 | 103901 | 0 | (122) |
|  | 03/2026  | 3181 | 59004 | 78 | 0 |

---

------

<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | 04/2026  | 99829 | 564662 |  | 1100 |  | 0 |
|  | 04/2026  | 7575 | 139481 |  | 95 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | 01/2026  | 1223 | $890 |  | 0 |  | (1) |
|  | 01/2026  | 192381 | 27316 |  | 0 |  | (288) |
|  | 01/2026  | 49674 | 15266 |  | 0 |  | (331) |
|  | 01/2026  | 238702 | 2681 |  | 32 |  | 0 |
|  | 01/2026  | 7613 | 4417 |  | 33 |  | 0 |
|  | 01/2026  | 30736 | 8383 |  | 0 |  | (178) |
|  | 01/2026  | $7079 | 49727 |  | 56 |  | 0 |
|  | 01/2026  | 5600 | 498673 |  | 0 |  | (65) |
|  | 01/2026  | 7481 | 10734840 |  | 0 |  | (36) |
|  | 01/2026  | 36615 | 680998 |  | 1112 |  | 0 |
|  | 01/2026  | 10948 | 40333 |  | 286 |  | 0 |
|  | 01/2026  | 6989 | $407 |  | 0 |  | (14) |
|  | 02/2026  | 618240 | 161 |  | 0 |  | 0 |
|  | 02/2026  | 10720753 | 7481 |  | 47 |  | 0 |
|  | 02/2026  | $2964 | 54992 |  | 75 |  | 0 |
|  | 02/2026  | 1 | 42 |  | 0 |  | 0 |
|  | 03/2026  | 154600 | $40 |  | 0 |  | 0 |
|  | 03/2026  | $6120 | 112202 |  | 72 |  | 0 |
|  | 04/2026  | 2480 | 45695 |  | 34 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 42797 | $28118 |  | 0 |  | (444) |
|  | 01/2026  | 79789 | 56692 |  | 0 |  | (1473) |
|  | 01/2026  | 1871 | 2356 |  | 0 |  | (8) |
|  | 01/2026  | 200 | 235 |  | 0 |  | 0 |
|  | 01/2026  | 3282 | 4399 |  | 0 |  | (25) |
|  | 01/2026  | 1118700 | 7204 |  | 57 |  | 0 |
|  | 01/2026  | 4544 | 2626 |  | 9 |  | 0 |
|  | 01/2026  | 10104 | 2762 |  | 0 |  | (52) |
|  | 01/2026  | 133380 | 102796 |  | 0 |  | (1034) |
|  | 01/2026  | $962 | 1434 |  | 0 |  | (5) |
|  | 01/2026  | 1838 | 1377 |  | 18 |  | 0 |
|  | 01/2026  | 154 | 23968 |  | 0 |  | (1) |
|  | 01/2026  | 2178 | 7983 |  | 46 |  | 0 |
|  | 01/2026  | 1599 | 51802 |  | 46 |  | 0 |
|  | 01/2026  | 908 | 28658 |  | 5 |  | 0 |
|  | 02/2026  | 1484 | 27471 |  | 34 |  | 0 |
|  | 04/2026  | 1996 | 36849 |  | 30 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | 01/2026  | 13 | $4 |  | 0 |  | 0 |
|  | 01/2026  | 5 | 1 |  | 0 |  | 0 |
|  | 01/2026  | $32 | 4979 |  | 0 |  | 0 |
|  | 02/2026  | 14652 | $4551 |  | 0 |  | (51) |
|  | 04/2026  | $692 | 12608 |  | 1 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; NGF | 01/2026  | 16541788 | $11304 |  | 0 |  | (169) |
|  | 01/2026  | $5021 | 7369743 |  | 91 |  | 0 |
|  | 01/2026  | 2820 | 127321 |  | 121 |  | 0 |
|  | 02/2026  | 28140 | 1278688 |  | 799 |  | 0 |
|  | 03/2026  | 3436 | 157497 |  | 40 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | 01/2026  | 1166 | $1455 |  | 0 |  | (19) |
|  | 01/2026  | 92145 | 13078 |  | 0 |  | (144) |
|  | 01/2026  | 37305 | 410 |  | 0 |  | (4) |
|  | 01/2026  | 259700 | 1663 |  | 3 |  | 0 |
|  | 01/2026  | 156331 | 5131 |  | 154 |  | 0 |
|  | 01/2026  | $1132 | 18934939 |  | 2 |  | 0 |
|  | 01/2026  | 828 | 74746 |  | 2 |  | 0 |
|  | 01/2026  | 2856 | 444112 |  | 0 |  | (18) |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | 01/2026  | 32276 | $37368 |  | 0 |  | (579) |
|  | 01/2026  | 1479 | 340 |  | 0 |  | (1) |
|  | 01/2026  | 6730 | 5195 |  | 0 |  | (44) |
|  | 01/2026  | $31467 | 24027 |  | 920 |  | 0 |
|  | 01/2026  | 10613 | 1659792 |  | 0 |  | (9) |
|  | 02/2026  | 1485 | 27486 |  | 34 |  | 0 |
|  | 03/2026  | 1127 | $60 |  | 0 |  | (2) |
|  | 03/2026  | 66 | 20 |  | 0 |  | 0 |
|  | 03/2026  | $1021 | 989792 |  | 79 |  | 0 |
|  | 03/2026  | 22095 | 414075 |  | 737 |  | 0 |
|  | 04/2026  | 14272 | $4090 |  | 0 |  | (141) |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | 01/2026  | 159850 | 1799 |  | 25 |  | 0 |
|  | 01/2026  | $920 | 83334 |  | 5 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | 01/2026  | 4925 | $6153 |  | 0 |  | (70) |
|  | 01/2026  | 10139 | 2779 |  | 0 |  | (46) |
|  | 01/2026  | $23584 | 40679 |  | 0 |  | (156) |
|  | 01/2026  | 9395 | 34125 |  | 110 |  | (1) |
|  | 01/2026  | 2431 | 75371 |  | 0 |  | (31) |
|  | 01/2026  | 51544 | $2964 |  | 0 |  | (144) |
|  | 02/2026  | $4004 | 74179 |  | 95 |  | 0 |
|  | 03/2026  | 29558 | $950 |  | 10 |  | 0 |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | $**13071** | **13071** | $**(11838)** | **(11838)** |

---

------

<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** |
| **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** |
| Counterparty | Counterparty | Description | Description | Description | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Cost | Market<br>Value | Market<br>Value |
| BOA | BOA | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | 1415.000 | 02/19/2026 | 114068 | 772 | 772 | $646 | 646 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **772** | **772** | $**646** | **646** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** |
| Counterparty | Counterparty | Description | Description | Description | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Premiums<br>(Received) | Market<br>Value | Market<br>Value |
| BOA | BOA | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | 1375.000 | 02/19/2026 | 114068 | (262) | (262) | $(164) | (164) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **(262)** | **(262)** | $**(164)** | **(164)** |
| **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 SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> |
| Counterparty | Counterparty | Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| BOA | BOA | Chile Government International Bonds  | 1.000% | Quarterly | 12/20/2030 | 0.429% | $2000 | $46 | $7 | $53 | 53 | $0 |
|  |  | Indonesia Government International Bonds  | 1.000 | Quarterly | 12/20/2030 | 0.689 | 2000 | 15 | 14 | 29 | 29 | 0 |
|  |  | South Africa Government International Bonds  | 1.000 | Quarterly | 12/20/2026 | 0.266 | 400 | (17) | 20 | 3 | 3 | 0 |
| BPS | BPS | Chile Government International Bonds  | 1.000 | Quarterly | 12/20/2030 | 0.429 | 10000 | 234 | 30 | 264 | 264 | 0 |
|  |  | Colombia Government International Bonds  | 1.000 | Quarterly | 06/20/2027 | 1.075 | 2800 | (134) | 132 | 0 | 0 | (2) |
|  |  | Colombia Government International Bonds  | 1.000 | Quarterly | 12/20/2027 | 1.164 | 700 | (62) | 60 | 0 | 0 | (2) |
|  |  | Mexico Government International Bonds  | 1.000 | Quarterly | 06/20/2028 | 0.480 | 3000 | (31) | 69 | 38 | 38 | 0 |
| BRC | BRC | Colombia Government International Bonds  | 1.000 | Quarterly | 12/20/2026 | 0.897 | 2110 | (100) | 103 | 3 | 3 | 0 |
|  |  | Colombia Government International Bonds  | 1.000 | Quarterly | 12/20/2027 | 1.164 | 17000 | 15 | (63) | 0 | 0 | (48) |
|  |  | Romania Government International Bonds  | 1.000 | Quarterly | 12/20/2030 | 1.385 | 10000 | (267) | 98 | 0 | 0 | (169) |
| CBK | CBK | Brazil Government International Bonds  | 1.000 | Quarterly | 06/20/2035 | 2.219 | 5000 | (717) | 271 | 0 | 0 | (446) |
|  |  | Colombia Government International Bonds  | 1.000 | Quarterly | 12/20/2026 | 0.897 | 2300 | (116) | 119 | 3 | 3 | 0 |
| DUB | DUB | Indonesia Government International Bonds  | 1.000 | Quarterly | 12/20/2030 | 0.689 | 10000 | 75 | 69 | 144 | 144 | 0 |
| GST | GST | Colombia Government International Bonds  | 1.000 | Quarterly | 12/20/2027 | 1.164 | 3500 | (312) | 302 | 0 | 0 | (10) |
|  |  | Saudi Arabia Government International Bonds  | 1.000 | Quarterly | 12/20/2030 | 0.674 | 15000 | 235 | (8) | 227 | 227 | 0 |
| JPM | JPM | Saudi Arabia Government International Bonds  | 1.000 | Quarterly | 06/20/2030 | 0.622 | 2600 | 46 | (5) | 41 | 41 | 0 |
| MYC | MYC | Colombia Government International Bonds  | 1.000 | Quarterly | 12/20/2027 | 1.164 | 4500 | (401) | 388 | 0 | 0 | (13) |
|  |  | South Africa Government International Bonds  | 1.000 | Quarterly | 12/20/2026 | 0.266 | 800 | (35) | 41 | 6 | 6 | 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** | $**(1526)** | $**1647** | $**811** | **811** | $**(690)** |
| **(i)** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,298 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| <sup>(2)</sup> | If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 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 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 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 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 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 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 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 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 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 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 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 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. |

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<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | |
|:---|:---|:---|:---|:---|
| <sup>(4)</sup> | The maximum potential amount the Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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. |
| **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 2 | Level 3 | Fair Value<br>at 12/31/2025 |
| **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** |
| Brazil | Brazil | Brazil | Brazil | Brazil |
| Corporate Bonds & Notes | Corporate Bonds & Notes | $3439 | $0 | $3439 |
| Sovereign Issues | Sovereign Issues | 10777 | 0 | 10777 |
| Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 0 | 1180 | 1180 |
| Chile | Chile | Chile | Chile | Chile |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 2270 | 0 | 2270 |
| Sovereign Issues | Sovereign Issues | 4771 | 0 | 4771 |
| Colombia | Colombia | Colombia | Colombia | Colombia |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 2780 | 0 | 2780 |
| Sovereign Issues | Sovereign Issues | 50176 | 0 | 50176 |
| Dominican Republic | Dominican Republic | Dominican Republic | Dominican Republic | Dominican Republic |
| Sovereign Issues | Sovereign Issues | 2614 | 0 | 2614 |
| India | India | India | India | India |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 1832 | 0 | 1832 |
| Indonesia | Indonesia | Indonesia | Indonesia | Indonesia |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 190 | 0 | 190 |
| Sovereign Issues | Sovereign Issues | 10827 | 0 | 10827 |
| Israel | Israel | Israel | Israel | Israel |
| Sovereign Issues | Sovereign Issues | 14574 | 0 | 14574 |
| Ivory Coast | Ivory Coast | Ivory Coast | Ivory Coast | Ivory Coast |
| Sovereign Issues | Sovereign Issues | 5084 | 0 | 5084 |
| Kuwait | Kuwait | Kuwait | Kuwait | Kuwait |
| Sovereign Issues | Sovereign Issues | 9017 | 0 | 9017 |
| Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg |
| Common Stocks | Common Stocks | 0 | 3892 | 3892 |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 11240 | 0 | 11240 |
| Sovereign Issues | Sovereign Issues | 5099 | 0 | 5099 |
| Malaysia | Malaysia | Malaysia | Malaysia | Malaysia |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 3539 | 0 | 3539 |
| Mexico | Mexico | Mexico | Mexico | Mexico |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 6361 | 0 | 6361 |
| Sovereign Issues | Sovereign Issues | 24969 | 0 | 24969 |
| Paraguay | Paraguay | Paraguay | Paraguay | Paraguay |
| Sovereign Issues | Sovereign Issues | 1017 | 0 | 1017 |
| Peru | Peru | Peru | Peru | Peru |
| Sovereign Issues | Sovereign Issues | 66582 | 0 | 66582 |
| Poland | Poland | Poland | Poland | Poland |
| Sovereign Issues | Sovereign Issues | 2053 | 0 | 2053 |
| Qatar | Qatar | Qatar | Qatar | Qatar |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 631 | 0 | 631 |
| Sovereign Issues | Sovereign Issues | 13386 | 0 | 13386 |
| Romania | Romania | Romania | Romania | Romania |
| Sovereign Issues | Sovereign Issues | 23443 | 0 | 23443 |
| Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 9914 | 0 | 9914 |
| Sovereign Issues | Sovereign Issues | 30047 | 0 | 30047 |
| Serbia | Serbia | Serbia | Serbia | Serbia |
| Sovereign Issues | Sovereign Issues | 13851 | 0 | 13851 |
| South Africa | South Africa | South Africa | South Africa | South Africa |
| Sovereign Issues | Sovereign Issues | 61072 | 0 | 61072 |
| Turkey | Turkey | Turkey | Turkey | Turkey |
| Sovereign Issues | Sovereign Issues | 5444 | 0 | 5444 |
| United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 2014 | 0 | 2014 |
| Sovereign Issues | Sovereign Issues | 3170 | 0 | 3170 |
| United States | United States | United States | United States | United States |
| Asset-Backed Securities | Asset-Backed Securities | 118 | 0 | 118 |
| Corporate Bonds & Notes | Corporate Bonds & Notes | 1640 | 0 | 1640 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 235 | 0 | 235 |
| U.S. Treasury Obligations | U.S. Treasury Obligations | 19267 | 0 | 19267 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 548 | 0 | 548 |
| U.S. Treasury Bills | U.S. Treasury Bills | 3806 | 0 | 3806 |
|  |  | $427797 | $5072 | $432869 |
| **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 | Central Funds Used for Cash Management Purposes | $0 | $0 | $25331 |

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<br> Schedule of Investments PIMCO EM Bond and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $25331 | 25331 | 25331 | 25331 | $427797 | 427797 | $5072 | 5072 | $ | $ | 458200 |  |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 4 | 4 | 4 | 4 | 13 | 13 | 0 | 0 |  |  | 17 |  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | 0 | 14528 | 14528 | 0 | 0 |  |  | 14528 |  |  |
|  |  |  |  |  |  |  | $4 | 4 | 4 | 4 | $14541 | 14541 | $0 | 0 | $ | $ | 14545 |  |  |
| **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**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  |  |  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | (26) | (26) | (26) | (26) | (45) | (45) | 0 | 0 |  |  | (71) |  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | 0 | (12692) | (12692) | 0 | 0 |  |  | (12692) |  |  |
|  |  |  |  |  |  |  | $(26) | (26) | (26) | (26) | $(12737) | (12737) | $0 | 0 | $ | $ | (12763) |  |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $(22) | (22) | (22) | (22) | $1804 | 1804 | $0 | 0 | $ | $ | 1782 |  |  |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | $25309 | 25309 | 25309 | 25309 | $429601 | 429601 | $5072 | 5072 | $ | $ | 459982 |  |  |
| **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** |
| Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases  | Net<br>Purchases  | Net<br>Sales/Settlements  | Net<br>Sales/Settlements  | Accrued<br>Discounts/<br>(Premiums) | Accrued<br>Discounts/<br>(Premiums) | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Transfers into<br>Level 3 | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 12/31/2025 | Ending<br>Balance<br>at 12/31/2025 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>12/31/2025<sup>(1)</sup> | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>12/31/2025<sup>(1)</sup> |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **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** |
| Cayman Islands |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Corporate Bonds & Notes | $0 | $ | 1170 | $ | $0 | $ | 0 | $ | $0 | $ | 10 | $0 | 0 | $0 | 0 | $ | 1180 | $ | 10 |
| Luxembourg |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Common Stocks | 4344 |  | 0 |  | 0 |  | 0 |  | 0 |  | (452) | 0 | 0 | 0 | 0 |  | 3892 |  | (452) |
| Totals | 4344 | $ | 1170 | $ | $0 | $ | 0 | $ | $0 | $ | (442) | $0 | 0 | $0 | 0 | $ | 5072 | $ | (442) |
| <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:** | <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 12/31/2025 | &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;&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 | &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** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | $1180 | 1180 | &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;&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 | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | 5.429  | 5.429  | 5.429  | —  | —  |
| Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg |
| Common Stocks | Common Stocks | Common Stocks | 3892 | 3892 | &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;&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 | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | $22.563  | 22.563  | 22.563  | —  | —  |
| Total | Total | Total | $5072 | 5072 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio December 31, 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 96.3% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 7.6%**  |  |  |
| **American Axle & Manufacturing, Inc.**<br>TBD% due 02/24/2032 | $225 | $225 |
| **B&G Foods, Inc.**<br>7.216% (TSFR1M + 3.500%) due 10/10/2029 ~ | 321 | 310 |
| **Barnes Group, Inc.**<br>6.466% - 7.831% (TSFR1M + 2.750%) due 01/27/2032 ~ | 136 | 137 |
| **Bausch & Lomb Corp.**<br>7.966% (TSFR1M + 4.250%) due 01/15/2031 ~ | 25 | 25 |
| **Clydesdale Acquisition Holdings, Inc.**  |  |  |
| TBD% - 9.859% (TSFR1M + 3.250%) due 04/01/2032 ~ | 2 | 2 |
| TBD% - 9.859% (TSFR1M + 3.250%) due 04/01/2032 ~ | 172 | 172 |
| **Cotiviti Corp.**<br>6.623% - 7.716% (TSFR1M + 2.750%) due 05/01/2031 ~ | 246 | 237 |
| **Envision Healthcare Corp.**  |  |  |
| 11.862% (TSFR3M + 7.875%) due 07/20/2026 «~ | 1074 | 1074 |
| 11.862% (TSFR3M + 7.875%) due 11/03/2028 «~ | 5106 | 5259 |
| **Finastra USA, Inc.**<br>7.723% (TSFR3M + 4.000%) due 09/15/2032 ~ | 250 | 245 |
| **GFL Environmental, Inc.**<br>6.273% - 8.172% (TSFR3M + 2.500%) due 03/03/2032 ~ | 100 | 100 |
| **Gray Television, Inc.**<br>9.123% (TSFR1M + 5.250%) due 06/04/2029 ~ | 2 | 2 |
| **INEOS U.S. Finance LLC**  |  |  |
| 6.716% - 7.672% (TSFR1M + 3.000%) due 02/07/2031 ~ | 40 | 32 |
| 6.966% - 7.384% (TSFR1M + 3.250%) due 02/18/2030 ~ | 394 | 321 |
| **LifePoint Health, Inc.**<br>7.335% (TSFR1M + 3.500%) due 05/19/2031 ~ | 99 | 99 |
| **McAfee LLC**<br>6.716% - 7.672% (TSFR1M + 3.000%) due 03/01/2029 ~ | 373 | 346 |
| **Medline Borrower LP**<br>5.466% - 9.485% (TSFR1M + 1.750%) due 10/23/2030 ~ | 525 | 528 |
| **Mercury Aggregator LP (19.000% PIK)**<br>19.000% due 04/03/2026 «~(a) | 222 | 12 |
| **Paradigm Parent LLC**<br>8.172% (TSFR3M + 4.500%) due 04/16/2032 ~ | 50 | 44 |
| **Petco Health & Wellness Co., Inc.**<br>7.184% - 7.198% (TSFR3M + 3.250%) due 03/03/2028 ~ | 170 | 168 |
| **Polaris Newco LLC**<br>7.852% (TSFR3M + 3.750%) due 06/02/2028 ~ | 104 | 100 |
| **QuidelOrtho Corp.**<br>7.716% (TSFR1M + 4.000%) due 08/20/2032 ~ | 274 | 275 |
| **Renaissance Holdings Corp.**<br>7.716% (TSFR1M + 4.000%) due 04/05/2030 ~ | 75 | 66 |
| **Specialty Building Products Holdings LLC**<br>7.566% (TSFR1M + 3.750%) due 10/16/2028 ~ | 124 | 116 |
| **Stepstone Group MidCo 2 GmbH**<br>8.199% (TSFR3M + 4.500%) due 12/19/2031 ~ | 532 | 499 |
| **TransDigm, Inc.**  |  |  |
| 5.966% - 8.891% (TSFR1M + 2.250%) due 03/22/2030 ~ | 296 | 297 |
| 6.216% - 8.272% (TSFR1M + 2.500%) due 02/28/2031 ~ | 494 | 496 |
| **U.S. Renal Care, Inc.**<br>8.831% (TSFR1M + 5.000%) due 06/28/2028 ~ | 50 | 47 |
| Total Loan Participations and Assignments (Cost $11,305) |  | 11234 |
| **CORPORATE BONDS & NOTES 80.7%**  |  |  |
| **BANKING & FINANCE 12.9%**  |  |  |
| **Acrisure LLC/Acrisure Finance, Inc.** <br>6.750% due 07/01/2032 | 150 | 155 |
| **Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer**  |  |  |
| 6.500% due 10/01/2031  | 525 | 542 |
| 7.000% due 01/15/2031  | 350 | 363 |
| **Allied Universal Holdco LLC/Allied Universal Finance Corp.** <br>6.875% due 06/15/2030 | 250 | 260 |
| **AmWINS Group, Inc.** <br>6.375% due 02/15/2029 | 325 | 334 |
| **Asurion LLC & Asurion Co-Issuer, Inc.** <br>8.000% due 12/31/2032 | 225 | 234 |
| **BGC Group, Inc.** <br>8.000% due 05/25/2028 | 100 | 107 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **BNP Paribas SA** <br>8.500% due 08/14/2028 •(e)(f) | 200 | 213 |
| **Bread Financial Holdings, Inc.** <br>6.750% due 05/15/2031 | 100 | 104 |
| **Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC** <br>4.500% due 04/01/2027 | 125 | 124 |
| **Burford Capital Global Finance LLC** <br>6.250% due 04/15/2028 | 500 | 498 |
| **CrossCountry Intermediate HoldCo LLC** <br>6.500% due 10/01/2030 | 100 | 102 |
| **Diversified Healthcare Trust**  |  |  |
| 4.375% due 03/01/2031  | 125 | 111 |
| 7.250% due 10/15/2030  | 100 | 102 |
| **EF Holdco/EF Cayman Holdings/Ellington Financial REIT Cayman/TRS/EF Cayman Non-MTM** <br>7.375% due 09/30/2030 | 125 | 126 |
| **Encore Capital Group, Inc.**  |  |  |
| 6.625% due 04/15/2031  | 100 | 101 |
| 8.500% due 05/15/2030  | 350 | 377 |
| 9.250% due 04/01/2029  | 100 | 106 |
| **Focus Financial Partners LLC** <br>6.750% due 09/15/2031 | 125 | 129 |
| **Ford Motor Credit Co. LLC**  |  |  |
| 4.271% due 01/09/2027  | 25 | 25 |
| 5.918% due 03/20/2028  | 50 | 51 |
| 6.800% due 05/12/2028  | 50 | 52 |
| **Freedom Mortgage Corp.** <br>6.625% due 01/15/2027 | 800 | 806 |
| **Freedom Mortgage Holdings LLC**  |  |  |
| 6.875% due 05/01/2031  | 550 | 551 |
| 9.250% due 02/01/2029  | 125 | 131 |
| **FS KKR Capital Corp.** <br>6.125% due 01/15/2031 | 200 | 195 |
| **FTAI Aviation Investors LLC** <br>7.000% due 05/01/2031 | 450 | 474 |
| **GGAM Finance Ltd.** <br>6.875% due 04/15/2029 | 225 | 234 |
| **HUB International Ltd.** <br>7.250% due 06/15/2030 | 325 | 341 |
| **Hudson Pacific Properties LP** <br>5.950% due 02/15/2028 | 200 | 197 |
| **Icahn Enterprises LP/Icahn Enterprises Finance Corp.**  |  |  |
| 6.250% due 05/15/2026  | 60 | 60 |
| 10.000% due 11/15/2029  | 275 | 275 |
| **Intesa Sanpaolo SpA** <br>4.198% due 06/01/2032 •  | 400 | 382 |
| **ION Platform Finance U.S., Inc.** <br>7.875% due 09/30/2032 | 525 | 499 |
| **Iron Mountain Information Management Services, Inc.** <br>5.000% due 07/15/2032 | 250 | 239 |
| **Iron Mountain, Inc.**  |  |  |
| 4.500% due 02/15/2031  | 75 | 72 |
| 4.875% due 09/15/2027  | 175 | 175 |
| 5.250% due 07/15/2030  | 50 | 49 |
| 5.625% due 07/15/2032  | 175 | 172 |
| **Jane Street Group/JSG Finance, Inc.**  |  |  |
| 4.500% due 11/15/2029  | 500 | 495 |
| 6.125% due 11/01/2032  | 150 | 153 |
| 6.750% due 05/01/2033  | 275 | 287 |
| 7.125% due 04/30/2031  | 275 | 289 |
| **Jefferson Capital Holdings LLC** <br>9.500% due 02/15/2029 | 100 | 106 |
| **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.**  |  |  |
| 4.750% due 06/15/2029  | 75 | 74 |
| 7.000% due 07/15/2031  | 150 | 159 |
| **Millrose Properties, Inc.**  |  |  |
| 6.250% due 09/15/2032  | 175 | 177 |
| 6.375% due 08/01/2030  | 175 | 179 |
| **MPT Operating Partnership LP/MPT Finance Corp.** <br>8.500% due 02/15/2032 | 175 | 187 |
| **Navient Corp.** <br>5.000% due 03/15/2027 | 200 | 201 |
| **Newmark Group, Inc.** <br>7.500% due 01/12/2029 | 650 | 698 |
| **Nissan Motor Acceptance Co. LLC**  |  |  |
| 1.850% due 09/16/2026  | 50 | 49 |
| 5.625% due 09/29/2028  | 325 | 326 |
| 6.125% due 09/30/2030  | 500 | 500 |
| 6.950% due 09/15/2026  | 75 | 76 |
| **OneMain Finance Corp.**  |  |  |
| 5.375% due 11/15/2029  | 150 | 150 |
| 6.125% due 05/15/2030  | 925 | 945 |
| 6.625% due 05/15/2029  | 150 | 156 |
| 7.500% due 05/15/2031  | 150 | 158 |
| **Osaic Holdings, Inc.** <br>6.750% due 08/01/2032 | 50 | 52 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Panama Infrastructure Receivable Purchaser PLC** <br>0.000% due 04/05/2032 (d) | 150 | 116 |
| **Panther Escrow Issuer LLC** <br>7.125% due 06/01/2031 | 675 | 700 |
| **Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer** <br>4.875% due 05/15/2029 | 225 | 220 |
| **Pebblebrook Hotel LP/PEB Finance Corp.** <br>6.375% due 10/15/2029 | 150 | 154 |
| **PennyMac Financial Services, Inc.**  |  |  |
| 5.750% due 09/15/2031  | 500 | 504 |
| 6.875% due 05/15/2032  | 150 | 157 |
| 7.125% due 11/15/2030  | 275 | 290 |
| 7.875% due 12/15/2029  | 100 | 106 |
| **PRA Group, Inc.** <br>8.875% due 01/31/2030 | 25 | 26 |
| **Rfna LP** <br>7.875% due 02/15/2030 | 75 | 77 |
| **RHP Hotel Properties LP/RHP Finance Corp.**  |  |  |
| 6.500% due 04/01/2032  | 350 | 363 |
| 6.500% due 06/15/2033  | 25 | 26 |
| **RLJ Lodging Trust LP**  |  |  |
| 3.750% due 07/01/2026  | 50 | 50 |
| 4.000% due 09/15/2029  | 175 | 166 |
| **Rocket Cos., Inc.** <br>6.125% due 08/01/2030 | 275 | 284 |
| **Service Properties Trust** <br>0.000% due 09/30/2028 (d) | 275 | 249 |
| **SLM Corp.** <br>6.500% due 01/31/2030 | 25 | 26 |
| **Starwood Property Trust, Inc.**  |  |  |
| 4.375% due 01/15/2027  | 25 | 25 |
| 6.000% due 04/15/2030  | 75 | 77 |
| 6.500% due 07/01/2030  | 125 | 131 |
| 6.500% due 10/15/2030  | 75 | 78 |
| **UBS Group AG** <br>9.250% due 11/13/2028 •(e)(f) | 100 | 110 |
| **USI, Inc.** <br>7.500% due 01/15/2032 | 226 | 237 |
| **UWM Holdings LLC** <br>6.250% due 03/15/2031 | 125 | 125 |
| **VFH Parent LLC/Valor Co-Issuer, Inc.** <br>7.500% due 06/15/2031 | 150 | 157 |
| **Vornado Realty LP** <br>3.400% due 06/01/2031 | 100 | 91 |
| **Voyager Aviation Holdings LLC** <br>8.500% due 05/09/2026 ^«(b) | 130 | 0 |
| **XHR LP** <br>6.625% due 05/15/2030 | 75 | 78 |
|  |  | 19108 |
| **INDUSTRIALS 63.4%**  |  |  |
| **1011778 BC ULC/New Red Finance, Inc.**  |  |  |
| 3.500% due 02/15/2029  | 575 | 558 |
| 4.000% due 10/15/2030  | 1050 | 1001 |
| **1261229 BC Ltd.** <br>10.000% due 04/15/2032 | 325 | 338 |
| **Acadia Healthcare Co., Inc.** <br>5.000% due 04/15/2029 | 25 | 24 |
| **ADT Security Corp.**  |  |  |
| 4.125% due 08/01/2029  | 400 | 391 |
| 5.875% due 10/15/2033  | 225 | 228 |
| **Advance Auto Parts, Inc.**  |  |  |
| 3.500% due 03/15/2032  | 150 | 128 |
| 7.000% due 08/01/2030  | 350 | 353 |
| 7.375% due 08/01/2033  | 125 | 126 |
| **Advantage Sales & Marketing, Inc.** <br>6.500% due 11/15/2028 | 50 | 41 |
| **Ahlstrom Holding 3 OYJ** <br>4.875% due 02/04/2028 | 400 | 394 |
| **Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC**  |  |  |
| 4.625% due 01/15/2027  | 375 | 375 |
| 4.875% due 02/15/2030  | 325 | 323 |
| **Albion Financing 1 SARL/Aggreko Holdings, Inc.** <br>7.000% due 05/21/2030 | 775 | 812 |
| **Allied Universal Holdco LLC** <br>7.875% due 02/15/2031 | 300 | 316 |
| **Allison Transmission, Inc.** <br>3.750% due 01/30/2031 | 225 | 212 |
| **Altice France SA** <br>9.500% due 11/01/2029 | 96 | 99 |
| **Alumina Pty. Ltd.** <br>6.125% due 03/15/2030 | 275 | 285 |
| **AMC Networks, Inc.** <br>10.250% due 01/15/2029 | 200 | 210 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Amentum Holdings, Inc.** <br>7.250% due 08/01/2032 | 125 | 132 |
| **Amer Sports Co.** <br>6.750% due 02/16/2031 | 125 | 131 |
| **American Airlines Pass-Through Trust** <br>3.375% due 11/01/2028 | 47 | 47 |
| **American Airlines, Inc./AAdvantage Loyalty IP Ltd.**  |  |  |
| 5.500% due 04/20/2026  | 33 | 33 |
| 5.750% due 04/20/2029  | 800 | 815 |
| **American Axle & Manufacturing, Inc.**  |  |  |
| 5.000% due 10/01/2029  | 25 | 24 |
| 6.875% due 07/01/2028  | 16 | 16 |
| **American Builders & Contractors Supply Co., Inc.**  |  |  |
| 3.875% due 11/15/2029  | 175 | 169 |
| 4.000% due 01/15/2028  | 275 | 273 |
| **APi Group DE, Inc.** <br>4.125% due 07/15/2029 | 275 | 269 |
| **APLD ComputeCo LLC** <br>9.250% due 12/15/2030 | 25 | 25 |
| **Aramark Services, Inc.** <br>5.000% due 02/01/2028 | 200 | 200 |
| **Arcosa, Inc.** <br>6.875% due 08/15/2032 | 150 | 159 |
| **Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC** <br>6.250% due 01/30/2031 | 450 | 461 |
| **Ascent Resources Utica Holdings LLC/ARU Finance Corp.** <br>6.625% due 10/15/2032 | 275 | 285 |
| **Ashton Woods USA LLC/Ashton Woods Finance Co.** <br>6.875% due 08/01/2033 | 100 | 100 |
| **Aston Martin Capital Holdings Ltd.** <br>10.000% due 03/31/2029 | 500 | 466 |
| **AthenaHealth Group, Inc.** <br>6.500% due 02/15/2030 | 175 | 175 |
| **Avis Budget Car Rental LLC/Avis Budget Finance, Inc.**  |  |  |
| 4.750% due 04/01/2028  | 275 | 269 |
| 5.375% due 03/01/2029  | 75 | 73 |
| 5.750% due 07/15/2027  | 72 | 72 |
| **Axon Enterprise, Inc.**  |  |  |
| 6.125% due 03/15/2030  | 100 | 103 |
| 6.250% due 03/15/2033  | 75 | 78 |
| **B&G Foods, Inc.** <br>8.000% due 09/15/2028 | 225 | 222 |
| **Ball Corp.**  |  |  |
| 2.875% due 08/15/2030  | 75 | 69 |
| 3.125% due 09/15/2031  | 25 | 23 |
| **Bausch & Lomb Corp.** <br>8.375% due 10/01/2028 | 375 | 392 |
| **Beacon Mobility Corp.** <br>7.250% due 08/01/2030 | 175 | 183 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 925 | 978 |
| **BKV Upstream Midstream LLC** <br>7.500% due 10/15/2030 | 275 | 280 |
| **Block, Inc.**  |  |  |
| 2.750% due 06/01/2026  | 200 | 199 |
| 3.500% due 06/01/2031  | 525 | 494 |
| 5.625% due 08/15/2030  | 225 | 230 |
| 6.000% due 08/15/2033  | 175 | 180 |
| 6.500% due 05/15/2032  | 250 | 260 |
| **Boyd Gaming Corp.** <br>4.750% due 12/01/2027 | 75 | 75 |
| **Brightstar Lottery PLC/Brightstar Global Solutions Corp.** <br>5.750% due 01/15/2033 | 75 | 74 |
| **Brink's Co.** <br>4.625% due 10/15/2027 | 75 | 75 |
| **Builders FirstSource, Inc.**  |  |  |
| 4.250% due 02/01/2032  | 325 | 310 |
| 6.750% due 05/15/2035  | 175 | 183 |
| **BWX Technologies, Inc.**  |  |  |
| 4.125% due 06/30/2028  | 25 | 25 |
| 4.125% due 04/15/2029  | 125 | 122 |
| **CACI International, Inc.** <br>6.375% due 06/15/2033 | 100 | 104 |
| **Camelot Finance SA** <br>4.500% due 11/01/2026 | 3 | 3 |
| **Capstone Borrower, Inc.** <br>8.000% due 06/15/2030 | 50 | 52 |
| **Carnival Corp.**  |  |  |
| 5.750% due 03/15/2030  | 275 | 283 |
| 5.750% due 08/01/2032  | 525 | 539 |
| 5.875% due 06/15/2031  | 300 | 310 |
| **Carpenter Technology Corp.** <br>5.625% due 03/01/2034 | 125 | 127 |
| **Carvana Co.**  |  |  |
| 9.000% due 06/01/2030  | 200 | 210 |
| 9.000% due 06/01/2031  | 54 | 60 |

---

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<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CCO Holdings LLC/CCO Holdings Capital Corp.**  |  |  |
| 4.250% due 02/01/2031  | 225 | 207 |
| 4.250% due 01/15/2034  | 50 | 43 |
| 4.750% due 02/01/2032  | 500 | 457 |
| 5.000% due 02/01/2028  | 1675 | 1663 |
| 5.125% due 05/01/2027  | 100 | 100 |
| **Celanese U.S. Holdings LLC** <br>6.500% due 04/15/2030 | 300 | 302 |
| **Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.** <br>8.000% due 06/15/2029 | 100 | 87 |
| **Central Parent, Inc./CDK Global, Inc.** <br>7.250% due 06/15/2029 | 25 | 21 |
| **Century Communities, Inc.**  |  |  |
| 3.875% due 08/15/2029  | 50 | 48 |
| 6.625% due 09/15/2033  | 50 | 51 |
| **Cerdia Finanz GmbH** <br>9.375% due 10/03/2031 | 675 | 701 |
| **Champ Acquisition Corp.** <br>8.375% due 12/01/2031 | 50 | 54 |
| **Chart Industries, Inc.** <br>9.500% due 01/01/2031 | 50 | 53 |
| **Chobani LLC/Chobani Finance Corp., Inc.** <br>4.625% due 11/15/2028 | 25 | 25 |
| **Chord Energy Corp.**  |  |  |
| 6.000% due 10/01/2030  | 225 | 229 |
| 6.750% due 03/15/2033  | 450 | 466 |
| **CHS/Community Health Systems, Inc.**  |  |  |
| 5.250% due 05/15/2030  | 425 | 400 |
| 6.000% due 01/15/2029  | 225 | 226 |
| 9.750% due 01/15/2034  | 450 | 473 |
| 10.875% due 01/15/2032  | 248 | 271 |
| **Churchill Downs, Inc.** <br>4.750% due 01/15/2028 | 575 | 575 |
| **Cimpress PLC** <br>7.375% due 09/15/2032 | 100 | 102 |
| **Cipher Compute LLC** <br>7.125% due 11/15/2030 | 25 | 25 |
| **Civitas Resources, Inc.**  |  |  |
| 5.000% due 10/15/2026  | 75 | 75 |
| 8.625% due 11/01/2030  | 25 | 26 |
| 8.750% due 07/01/2031  | 175 | 182 |
| 9.625% due 06/15/2033  | 125 | 135 |
| **Clarios Global LP/Clarios U.S. Finance Co.** <br>6.750% due 02/15/2030 | 50 | 52 |
| **Cleveland-Cliffs, Inc.**  |  |  |
| 7.000% due 03/15/2032  | 450 | 462 |
| 7.625% due 01/15/2034  | 200 | 209 |
| **Cloud Software Group, Inc.**  |  |  |
| 6.500% due 03/31/2029  | 500 | 507 |
| 8.250% due 06/30/2032  | 225 | 235 |
| **Clydesdale Acquisition Holdings, Inc.**  |  |  |
| 6.750% due 04/15/2032  | 400 | 412 |
| 6.875% due 01/15/2030  | 475 | 487 |
| **CNX Midstream Partners LP** <br>4.750% due 04/15/2030 | 200 | 195 |
| **CNX Resources Corp.** <br>7.250% due 03/01/2032 | 75 | 78 |
| **Cogent Communications Group LLC/Cogent Finance, Inc.**  |  |  |
| 6.500% due 07/01/2032  | 400 | 375 |
| 7.000% due 06/15/2027  | 250 | 251 |
| **Commercial Metals Co.**  |  |  |
| 5.750% due 11/15/2033  | 175 | 179 |
| 6.000% due 12/15/2035  | 150 | 154 |
| **CommScope LLC** <br>4.750% due 09/01/2029 | 125 | 125 |
| **Comstock Resources, Inc.**  |  |  |
| 5.875% due 01/15/2030  | 75 | 73 |
| 6.750% due 03/01/2029  | 175 | 175 |
| **CoreWeave, Inc.**  |  |  |
| 9.000% due 02/01/2031  | 275 | 252 |
| 9.250% due 06/01/2030  | 100 | 93 |
| **CQP Holdco LP/BIP-V Chinook Holdco LLC** <br>5.500% due 06/15/2031 | 550 | 544 |
| **Crescent Energy Finance LLC**  |  |  |
| 7.375% due 01/15/2033  | 225 | 214 |
| 7.625% due 04/01/2032  | 50 | 49 |
| 8.375% due 01/15/2034  | 25 | 25 |
| **Crowdstrike Holdings, Inc.** <br>3.000% due 02/15/2029 | 300 | 288 |
| **Crown Americas LLC** <br>5.875% due 06/01/2033 | 150 | 154 |
| **Czechoslovak Group AS** <br>6.500% due 01/10/2031 | 400 | 411 |
| **Danaos Corp.** <br>6.875% due 10/15/2032 | 150 | 155 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **DaVita, Inc.**  |  |  |
| 6.750% due 07/15/2033  | 475 | 493 |
| 6.875% due 09/01/2032  | 100 | 104 |
| **Dcli Bidco LLC** <br>7.750% due 11/15/2029 | 200 | 206 |
| **Deluxe Corp.** <br>8.125% due 09/15/2029 | 50 | 53 |
| **Diamond Foreign Asset Co./Diamond Finance LLC** <br>8.500% due 10/01/2030 | 300 | 319 |
| **Diebold Nixdorf, Inc.** <br>7.750% due 03/31/2030 | 75 | 80 |
| **Directv Financing LLC** <br>8.875% due 02/01/2030 | 350 | 355 |
| **Directv Financing LLC/Directv Financing Co-Obligor, Inc.**  |  |  |
| 5.875% due 08/15/2027  | 216 | 217 |
| 10.000% due 02/15/2031  | 100 | 102 |
| **Discovery Communications LLC**  |  |  |
| 3.625% due 05/15/2030  | 75 | 69 |
| 3.950% due 03/20/2028  | 150 | 147 |
| **DISH Network Corp.** <br>11.750% due 11/15/2027 | 300 | 312 |
| **EchoStar Corp.** <br>10.750% due 11/30/2029 | 575 | 636 |
| **EchoStar Corp. (6.750% Cash or 6.750% PIK)** <br>6.750% due 11/30/2030 (a) | 250 | 256 |
| **Efesto Bidco SpA Efesto U.S. LLC** <br>7.500% due 02/15/2032 | 275 | 278 |
| **Ellucian Holdings, Inc.** <br>6.500% due 12/01/2029 | 175 | 179 |
| **Energizer Holdings, Inc.** <br>4.750% due 06/15/2028 | 25 | 25 |
| **Excelerate Energy LP** <br>8.000% due 05/15/2030 | 100 | 106 |
| **Fibercop SpA**  |  |  |
| 6.000% due 09/30/2034  | 25 | 24 |
| 6.375% due 11/15/2033  | 125 | 124 |
| **First Student Bidco, Inc./First Transit Parent, Inc.** <br>4.000% due 07/31/2029 | 325 | 317 |
| **Fortescue Treasury Pty. Ltd.**  |  |  |
| 4.375% due 04/01/2031  | 70 | 68 |
| 4.500% due 09/15/2027  | 125 | 125 |
| 5.875% due 04/15/2030  | 63 | 65 |
| **Fortress Intermediate 3, Inc.** <br>7.500% due 06/01/2031 | 275 | 287 |
| **Froneri Lux FinCo SARL** <br>6.000% due 08/01/2032 | 150 | 152 |
| **Frontier Communications Holdings LLC**  |  |  |
| 6.000% due 01/15/2030  | 350 | 356 |
| 8.625% due 03/15/2031  | 75 | 79 |
| **Gap, Inc.** <br>3.625% due 10/01/2029 | 400 | 380 |
| **GFL Environmental, Inc.**  |  |  |
| 4.000% due 08/01/2028  | 100 | 99 |
| 4.375% due 08/15/2029  | 375 | 369 |
| **Global Medical Response, Inc.** <br>7.375% due 10/01/2032 | 100 | 104 |
| **Global Partners LP/GLP Finance Corp.**  |  |  |
| 7.125% due 07/01/2033  | 50 | 51 |
| 8.250% due 01/15/2032  | 100 | 106 |
| **Goat Holdco LLC** <br>6.750% due 02/01/2032 | 475 | 488 |
| **goeasy Ltd.**  |  |  |
| 6.875% due 05/15/2030  | 125 | 119 |
| 7.375% due 10/01/2030  | 275 | 265 |
| 7.625% due 07/01/2029  | 50 | 49 |
| 9.250% due 12/01/2028  | 500 | 515 |
| **Goodyear Tire & Rubber Co.**  |  |  |
| 5.250% due 07/15/2031  | 25 | 24 |
| 5.625% due 04/30/2033  | 25 | 24 |
| **Graham Holdings Co.** <br>5.625% due 12/01/2033 | 150 | 152 |
| **Graham Packaging Co., Inc.** <br>7.125% due 08/15/2028 | 300 | 301 |
| **Graphic Packaging International LLC**  |  |  |
| 4.750% due 07/15/2027  | 25 | 25 |
| 6.375% due 07/15/2032  | 250 | 255 |
| **Gray Media, Inc.**  |  |  |
| 4.750% due 10/15/2030  | 100 | 78 |
| 5.375% due 11/15/2031  | 175 | 131 |
| 10.500% due 07/15/2029  | 68 | 73 |
| **Great Canadian Gaming Corp./Raptor LLC** <br>8.750% due 11/15/2029 | 50 | 51 |
| **Gulfport Energy Operating Corp.** <br>6.750% due 09/01/2029 | 75 | 78 |
| **Herc Holdings, Inc.** <br>5.750% due 03/15/2031 | 125 | 127 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Hess Midstream Operations LP** <br>5.875% due 03/01/2028 | 75 | 77 |
| **Hilton Domestic Operating Co., Inc.** <br>3.625% due 02/15/2032 | 800 | 743 |
| **Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.** <br>4.875% due 07/01/2031 | 300 | 280 |
| **Howard Midstream Energy Partners LLC**  |  |  |
| 6.625% due 01/15/2034  | 100 | 103 |
| 7.375% due 07/15/2032  | 275 | 290 |
| **Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC** <br>9.000% due 02/15/2029 | 50 | 52 |
| **IHO Verwaltungs GmbH (6.375% Cash or 7.125% PIK)** <br>6.375% due 05/15/2029 (a) | 50 | 51 |
| **IHO Verwaltungs GmbH (7.750% Cash or 8.500% PIK)** <br>7.750% due 11/15/2030 (a) | 175 | 184 |
| **IHO Verwaltungs GmbH (8.000% Cash or 8.750% PIK)** <br>8.000% due 11/15/2032 (a) | 75 | 79 |
| **Imola Merger Corp.** <br>4.750% due 05/15/2029 | 225 | 222 |
| **INEOS Finance PLC** <br>6.750% due 05/15/2028 | 75 | 67 |
| **Ingevity Corp.** <br>3.875% due 11/01/2028 | 850 | 831 |
| **Insulet Corp.** <br>6.500% due 04/01/2033 | 50 | 52 |
| **Inversion Escrow Issuer LLC** <br>6.750% due 08/01/2032 | 150 | 150 |
| **IQVIA, Inc.** <br>6.250% due 06/01/2032 | 500 | 523 |
| **JetBlue Airways Corp./JetBlue Loyalty LP** <br>9.875% due 09/20/2031 | 625 | 630 |
| **Kaiser Aluminum Corp.** <br>4.500% due 06/01/2031 | 50 | 49 |
| **KBR, Inc.** <br>4.750% due 09/30/2028 | 25 | 25 |
| **Kodiak Gas Services LLC**  |  |  |
| 6.500% due 10/01/2033  | 50 | 51 |
| 6.750% due 10/01/2035  | 50 | 51 |
| 7.250% due 02/15/2029  | 150 | 156 |
| **Kraken Oil & Gas Partners LLC** <br>7.625% due 08/15/2029 | 400 | 397 |
| **Lamar Media Corp.** <br>5.375% due 11/01/2033 | 125 | 124 |
| **LBM Acquisition LLC** <br>9.500% due 06/15/2031 | 150 | 157 |
| **Level 3 Financing, Inc.**  |  |  |
| 6.875% due 06/30/2033  | 225 | 230 |
| 7.000% due 03/31/2034  | 250 | 258 |
| **LifePoint Health, Inc.**  |  |  |
| 8.375% due 02/15/2032  | 175 | 190 |
| 11.000% due 10/15/2030  | 450 | 494 |
| **Light & Wonder International, Inc.** <br>7.500% due 09/01/2031 | 100 | 105 |
| **Lithia Motors, Inc.**  |  |  |
| 3.875% due 06/01/2029  | 25 | 24 |
| 4.375% due 01/15/2031  | 100 | 96 |
| 4.625% due 12/15/2027  | 100 | 100 |
| 5.500% due 10/01/2030  | 175 | 176 |
| **Live Nation Entertainment, Inc.** <br>3.750% due 01/15/2028 | 175 | 172 |
| **Matador Resources Co.**  |  |  |
| 6.250% due 04/15/2033  | 475 | 477 |
| 6.500% due 04/15/2032  | 100 | 101 |
| **Match Group Holdings II LLC**  |  |  |
| 3.625% due 10/01/2031  | 150 | 138 |
| 5.000% due 12/15/2027  | 25 | 25 |
| **Mauser Packaging Solutions Holding Co.** <br>7.875% due 04/15/2030 | 75 | 74 |
| **McGraw-Hill Education, Inc.**  |  |  |
| 5.750% due 08/01/2028  | 125 | 126 |
| 7.375% due 09/01/2031  | 225 | 238 |
| **Medline Borrower LP** <br>3.875% due 04/01/2029 | 600 | 586 |
| **Merlin Entertainments Group U.S. Holdings, Inc.** <br>7.375% due 02/15/2031 | 125 | 111 |
| **Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.** <br>4.875% due 05/01/2029 | 50 | 49 |
| **Mineral Resources Ltd.** <br>7.000% due 04/01/2031 | 125 | 130 |
| **Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC** <br>6.750% due 04/01/2032 | 150 | 154 |
| **Moss Creek Resources Holdings, Inc.** <br>8.250% due 09/01/2031 | 25 | 24 |
| **Motion Bondco DAC** <br>6.625% due 11/15/2027 | 200 | 194 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Motion Finco SARL** <br>8.375% due 02/15/2032 | 125 | 112 |
| **Murphy Oil USA, Inc.** <br>3.750% due 02/15/2031 | 150 | 141 |
| **Nabors Industries, Inc.**  |  |  |
| 7.625% due 11/15/2032  | 575 | 566 |
| 8.875% due 08/15/2031  | 25 | 24 |
| **National Mentor Holdings, Inc.** <br>10.500% due 12/15/2030 | 350 | 352 |
| **NCL Corp. Ltd.**  |  |  |
| 5.875% due 01/15/2031  | 25 | 25 |
| 6.750% due 02/01/2032  | 375 | 384 |
| **NCR Atleos Corp.** <br>9.500% due 04/01/2029 | 175 | 190 |
| **Neptune Bidco U.S., Inc.**  |  |  |
| 9.290% due 04/15/2029  | 300 | 301 |
| 10.375% due 05/15/2031  | 175 | 180 |
| **Newfold Digital Holdings Group, Inc.** <br>11.750% due 04/30/2029 | 485 | 448 |
| **Nissan Motor Co. Ltd.**  |  |  |
| 4.810% due 09/17/2030  | 40 | 38 |
| 7.750% due 07/17/2032  | 100 | 106 |
| 8.125% due 07/17/2035  | 50 | 53 |
| **Noble Finance II LLC** <br>8.000% due 04/15/2030 | 550 | 572 |
| **Nordstrom, Inc.** <br>5.000% due 01/15/2044 | 200 | 151 |
| **Northriver Midstream Finance LP** <br>6.750% due 07/15/2032 | 275 | 280 |
| **NOVA Chemicals Corp.**  |  |  |
| 4.250% due 05/15/2029  | 150 | 147 |
| 7.000% due 12/01/2031  | 175 | 187 |
| **Novelis Corp.**  |  |  |
| 4.750% due 01/30/2030  | 125 | 121 |
| 6.875% due 01/30/2030  | 150 | 156 |
| **NuStar Logistics LP** <br>6.375% due 10/01/2030 | 250 | 263 |
| **Olympus Water U.S. Holding Corp.** <br>4.250% due 10/01/2028 | 300 | 291 |
| **OneSky Flight LLC** <br>8.875% due 12/15/2029 | 75 | 80 |
| **Opal Bidco SAS** <br>6.500% due 03/31/2032 | 250 | 256 |
| **Open Text Holdings, Inc.** <br>4.125% due 02/15/2030 | 325 | 311 |
| **Organon & Co./Organon Foreign Debt Co-Issuer BV**  |  |  |
| 4.125% due 04/30/2028  | 275 | 269 |
| 6.750% due 05/15/2034  | 275 | 248 |
| **Paradigm Parent LLC & Paradigm Parent Co-Issuer, Inc.** <br>8.750% due 04/17/2032 | 100 | 91 |
| **Park River Holdings, Inc.** <br>8.000% due 03/15/2031 | 50 | 52 |
| **Permian Resources Operating LLC**  |  |  |
| 5.875% due 07/01/2029  | 100 | 101 |
| 7.000% due 01/15/2032  | 500 | 523 |
| **Perrigo Finance Unlimited Co.** <br>4.900% due 12/15/2044 | 250 | 200 |
| **Petroleos de Venezuela SA**  |  |  |
| 5.375% due 04/12/2027 ^(b)  | 1250 | 293 |
| 5.500% due 04/12/2037 ^(b)  | 1250 | 292 |
| **PetSmart LLC/PetSmart Finance Corp.** <br>7.500% due 09/15/2032 | 75 | 76 |
| **Post Holdings, Inc.**  |  |  |
| 4.500% due 09/15/2031  | 150 | 142 |
| 6.250% due 10/15/2034  | 675 | 679 |
| 6.500% due 03/15/2036  | 225 | 225 |
| **Precision Drilling Corp.** <br>6.875% due 01/15/2029 | 50 | 51 |
| **Prime Healthcare Services, Inc.** <br>9.375% due 09/01/2029 | 175 | 184 |
| **Primo Water Holdings, Inc./Triton Water Holdings, Inc.**  |  |  |
| 4.375% due 04/30/2029  | 225 | 219 |
| 6.250% due 04/01/2029  | 200 | 202 |
| **PTC, Inc.** <br>4.000% due 02/15/2028 | 200 | 198 |
| **Qnity Electronics, Inc.**  |  |  |
| 5.750% due 08/15/2032  | 175 | 179 |
| 6.250% due 08/15/2033  | 25 | 26 |
| **Quikrete Holdings, Inc.**  |  |  |
| 6.375% due 03/01/2032  | 575 | 599 |
| 6.750% due 03/01/2033  | 100 | 104 |
| **QXO Building Products, Inc.** <br>6.750% due 04/30/2032 | 375 | 392 |
| **Rakuten Group, Inc.**  |  |  |
| 8.125% due 12/15/2029 •(e)  | 50 | 52 |
| 9.750% due 04/15/2029  | 200 | 224 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 11.250% due 02/15/2027  | 200 | 214 |
| **Rand Parent LLC** <br>8.500% due 02/15/2030 | 100 | 104 |
| **Raven Acquisition Holdings LLC** <br>6.875% due 11/15/2031 | 500 | 516 |
| **Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp.** <br>6.625% due 02/01/2033 | 25 | 26 |
| **Rockies Express Pipeline LLC** <br>6.750% due 03/15/2033 | 75 | 79 |
| **RR Donnelley & Sons Co.** <br>9.500% due 08/01/2029 | 50 | 52 |
| **Ryan Specialty LLC** <br>5.875% due 08/01/2032 | 125 | 128 |
| **Sabre GLBL, Inc.**  |  |  |
| 10.750% due 11/15/2029  | 11 | 9 |
| 10.750% due 03/15/2030  | 14 | 12 |
| **Science Applications International Corp.** <br>5.875% due 11/01/2033 | 225 | 228 |
| **SCIH Salt Holdings, Inc.** <br>4.875% due 05/01/2028 | 125 | 125 |
| **Seadrill Finance Ltd.** <br>8.375% due 08/01/2030 | 500 | 520 |
| **Seagate Data Storage Technology Pte. Ltd.**  |  |  |
| 4.091% due 06/01/2029  | 225 | 221 |
| 5.875% due 07/15/2030  | 425 | 439 |
| **Service Corp. International** <br>3.375% due 08/15/2030 | 275 | 257 |
| **Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc.** <br>6.750% due 08/15/2032 | 25 | 26 |
| **Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed** <br>4.625% due 03/01/2029 | 1000 | 964 |
| **Sirius XM Radio LLC**  |  |  |
| 3.125% due 09/01/2026  | 175 | 174 |
| 3.875% due 09/01/2031  | 725 | 668 |
| 4.125% due 07/01/2030  | 275 | 262 |
| **SK Invictus Intermediate II SARL** <br>5.000% due 10/30/2029 | 25 | 25 |
| **SM Energy Co.**  |  |  |
| 6.750% due 08/01/2029  | 25 | 25 |
| 7.000% due 08/01/2032  | 225 | 221 |
| **Smyrna Ready Mix Concrete LLC** <br>6.000% due 11/01/2028 | 95 | 96 |
| **Snap, Inc.**  |  |  |
| 6.875% due 03/01/2033  | 325 | 337 |
| 6.875% due 03/15/2034  | 350 | 361 |
| **Specialty Building Products Holdings LLC/SBP Finance Corp.** <br>7.750% due 10/15/2029 | 100 | 98 |
| **Speedway Motorsports LLC/Speedway Funding II, Inc.** <br>4.875% due 11/01/2027 | 100 | 100 |
| **SS&C Technologies, Inc.** <br>6.500% due 06/01/2032 | 350 | 364 |
| **Stagwell Global LLC** <br>5.625% due 08/15/2029 | 275 | 268 |
| **Standard Industries, Inc.** <br>4.375% due 07/15/2030 | 650 | 628 |
| **Staples, Inc.** <br>10.750% due 09/01/2029 | 150 | 149 |
| **Station Casinos LLC**  |  |  |
| 4.500% due 02/15/2028  | 75 | 74 |
| 4.625% due 12/01/2031  | 50 | 47 |
| 6.625% due 03/15/2032  | 225 | 231 |
| **Stonepeak Nile Parent LLC** <br>7.250% due 03/15/2032 | 100 | 106 |
| **Sunoco LP**  |  |  |
| 4.500% due 10/01/2029  | 100 | 98 |
| 5.625% due 03/15/2031  | 150 | 151 |
| 6.625% due 08/15/2032  | 75 | 77 |
| 7.000% due 05/01/2029  | 150 | 157 |
| 7.250% due 05/01/2032  | 100 | 106 |
| **Sunoco LP/Sunoco Finance Corp.** <br>4.500% due 05/15/2029 | 250 | 246 |
| **Surgery Center Holdings, Inc.** <br>7.250% due 04/15/2032 | 200 | 203 |
| **Synergy Infrastructure Holdings LLC** <br>7.875% due 12/01/2030 | 50 | 52 |
| **Talos Production, Inc.** <br>9.000% due 02/01/2029 | 75 | 78 |
| **Taylor Morrison Communities, Inc.** <br>5.750% due 11/15/2032 | 75 | 77 |
| **Teleflex, Inc.** <br>4.625% due 11/15/2027 | 100 | 100 |
| **Tenet Healthcare Corp.**  |  |  |
| 5.500% due 11/15/2032  | 600 | 609 |
| 6.000% due 11/15/2033  | 75 | 77 |
| **Teva Pharmaceutical Finance Netherlands III BV** <br>6.000% due 12/01/2032 | 250 | 263 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Teva Pharmaceutical Finance Netherlands IV BV** <br>5.750% due 12/01/2030 | 75 | 78 |
| **TGS ASA** <br>8.500% due 01/15/2030 | 300 | 314 |
| **Tidewater, Inc.** <br>9.125% due 07/15/2030 | 75 | 81 |
| **TK Elevator U.S. Newco, Inc.** <br>5.250% due 07/15/2027 | 225 | 225 |
| **TopBuild Corp.**  |  |  |
| 3.625% due 03/15/2029  | 450 | 436 |
| 4.125% due 02/15/2032  | 425 | 404 |
| **Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC** <br>9.500% due 05/15/2030 | 250 | 250 |
| **TransDigm, Inc.**  |  |  |
| 6.000% due 01/15/2033  | 150 | 154 |
| 6.250% due 01/31/2034  | 75 | 78 |
| 6.375% due 03/01/2029  | 100 | 103 |
| 6.750% due 01/31/2034  | 325 | 339 |
| 6.875% due 12/15/2030  | 500 | 524 |
| **Transocean International Ltd.**  |  |  |
| 7.875% due 10/15/2032  | 250 | 262 |
| 8.250% due 05/15/2029  | 200 | 202 |
| 8.500% due 05/15/2031  | 75 | 74 |
| 8.750% due 02/15/2030  | 19 | 20 |
| **Transocean Titan Financing Ltd.** <br>8.375% due 02/01/2028 | 40 | 41 |
| **Trivium Packaging Finance BV** <br>8.250% due 07/15/2030 | 67 | 72 |
| **Twilio, Inc.** <br>3.875% due 03/15/2031 | 125 | 120 |
| **U.S. Acute Care Solutions LLC** <br>9.750% due 05/15/2029 | 100 | 101 |
| **U.S. Foods, Inc.** <br>5.750% due 04/15/2033 | 300 | 306 |
| **UKG, Inc.** <br>6.875% due 02/01/2031 | 300 | 309 |
| **Unisys Corp.** <br>10.625% due 01/15/2031 | 100 | 103 |
| **United Rentals North America, Inc.**  |  |  |
| 3.750% due 01/15/2032  | 275 | 259 |
| 4.000% due 07/15/2030  | 266 | 258 |
| 6.125% due 03/15/2034  | 150 | 156 |
| **Univision Communications, Inc.**  |  |  |
| 8.000% due 08/15/2028  | 225 | 233 |
| 8.500% due 07/31/2031  | 575 | 601 |
| 9.375% due 08/01/2032  | 200 | 215 |
| **USA Compression Partners LP/USA Compression Finance Corp.** <br>6.250% due 10/01/2033 | 275 | 278 |
| **Valaris Ltd.** <br>8.375% due 04/30/2030 | 775 | 807 |
| **Vallourec SACA** <br>7.500% due 04/15/2032 | 175 | 186 |
| **Valvoline, Inc.** <br>3.625% due 06/15/2031 | 150 | 138 |
| **Venture Global Calcasieu Pass LLC** <br>4.125% due 08/15/2031 | 100 | 91 |
| **Venture Global LNG, Inc.**  |  |  |
| 7.000% due 01/15/2030  | 50 | 48 |
| 9.500% due 02/01/2029  | 1400 | 1452 |
| 9.875% due 02/01/2032  | 675 | 698 |
| **Venture Global Plaquemines LNG LLC**  |  |  |
| 6.125% due 12/15/2030  | 600 | 611 |
| 6.500% due 01/15/2034  | 202 | 207 |
| 6.500% due 06/15/2034  | 250 | 256 |
| 6.750% due 01/15/2036  | 206 | 211 |
| 7.500% due 05/01/2033  | 300 | 324 |
| **Veritiv Operating Co.** <br>10.500% due 11/30/2030 | 125 | 135 |
| **Versant Media Group, Inc.** <br>7.250% due 01/30/2031 | 325 | 335 |
| **Vertiv Group Corp.** <br>4.125% due 11/15/2028 | 150 | 148 |
| **VF Corp.** <br>2.950% due 04/23/2030 | 129 | 117 |
| **Viking Cruises Ltd.** <br>5.875% due 10/15/2033 | 700 | 711 |
| **Virgin Media Secured Finance PLC** <br>4.500% due 08/15/2030 | 700 | 651 |
| **Viridien** <br>10.000% due 10/15/2030 | 25 | 26 |
| **VistaJet Malta Finance PLC/Vista Management Holding, Inc.**  |  |  |
| 6.375% due 02/01/2030  | 50 | 48 |
| 7.875% due 05/01/2027  | 200 | 202 |
| 9.500% due 06/01/2028  | 225 | 234 |
| **Vmed O2 U.K. Financing I PLC**  |  |  |
| 4.750% due 07/15/2031  | 1000 | 924 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 7.750% due 04/15/2032  | 700 | 730 |
| **Voyager Parent LLC** <br>9.250% due 07/01/2032 | 125 | 133 |
| **VZ Secured Financing BV**  |  |  |
| 5.000% due 01/15/2032  | 150 | 136 |
| 7.500% due 01/15/2033  | 725 | 735 |
| **Wand NewCo 3, Inc.** <br>7.625% due 01/30/2032 | 150 | 159 |
| **Warnermedia Holdings, Inc.**  |  |  |
| 3.755% due 03/15/2027  | 100 | 100 |
| 4.054% due 03/15/2029  | 150 | 146 |
| 4.279% due 03/15/2032  | 275 | 242 |
| 5.050% due 03/15/2042  | 375 | 265 |
| **Wayfair LLC**  |  |  |
| 6.750% due 11/15/2032  | 75 | 77 |
| 7.250% due 10/31/2029  | 84 | 88 |
| 7.750% due 09/15/2030  | 100 | 107 |
| **WBI Operating LLC**  |  |  |
| 6.250% due 10/15/2030  | 175 | 176 |
| 6.500% due 10/15/2033  | 50 | 50 |
| **Weatherford International Ltd.** <br>6.750% due 10/15/2033 | 550 | 564 |
| **Western Digital Corp.**  |  |  |
| 2.850% due 02/01/2029  | 200 | 192 |
| 3.100% due 02/01/2032  | 150 | 138 |
| **WEX, Inc.** <br>6.500% due 03/15/2033 | 75 | 77 |
| **White Cap Supply Holdings LLC** <br>7.375% due 11/15/2030 | 75 | 78 |
| **Wildfire Intermediate Holdings LLC** <br>7.500% due 10/15/2029 | 50 | 51 |
| **Williams Scotsman, Inc.** <br>6.625% due 06/15/2029 | 225 | 233 |
| **Windstream Services LLC/Windstream Escrow Finance Corp.** <br>8.250% due 10/01/2031 | 50 | 53 |
| **WR Grace Holdings LLC**  |  |  |
| 5.625% due 08/15/2029  | 25 | 24 |
| 6.625% due 08/15/2032  | 300 | 304 |
| **Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.**  |  |  |
| 6.250% due 03/15/2033  | 25 | 26 |
| 7.125% due 02/15/2031  | 750 | 812 |
| **XPLR Infrastructure Operating Partners LP** <br>7.250% due 01/15/2029 | 25 | 26 |
| **Yum! Brands, Inc.** <br>4.625% due 01/31/2032 | 800 | 785 |
| **Zayo Group Holdings, Inc. (5.750% Cash and 0.500% PIK)** <br>6.250% due 03/09/2030 (a) | 104 | 99 |
| **ZF North America Capital, Inc.**  |  |  |
| 6.750% due 04/23/2030  | 425 | 420 |
| 7.500% due 03/24/2031  | 250 | 253 |
| **Ziggo Bond Co. BV** <br>5.125% due 02/28/2030 | 25 | 22 |
| **Ziggo BV** <br>4.875% due 01/15/2030 | 450 | 426 |
| **ZoomInfo Technologies LLC/ZoomInfo Finance Corp.** <br>3.875% due 02/01/2029 | 175 | 165 |
|  |  | 93668 |
| **UTILITIES 4.4%**  |  |  |
| **AES Corp.** <br>6.950% due 07/15/2055 •  | 175 | 174 |
| **Aethon United BR LP/Aethon United Finance Corp.** <br>7.500% due 10/01/2029 | 175 | 183 |
| **American Electric Power Co., Inc.** <br>5.800% due 03/15/2056 •  | 150 | 149 |
| **Calpine Corp.** <br>5.000% due 02/01/2031 | 700 | 714 |
| **ContourGlobal Power Holdings SA** <br>6.750% due 02/28/2030 | 200 | 206 |
| **Electricite de France SA** <br>9.125% due 03/15/2033 •(e) | 225 | 263 |
| **FORESEA Holding SA** <br>7.500% due 06/15/2030 | 234 | 231 |
| **Genesis Energy LP/Genesis Energy Finance Corp.**  |  |  |
| 7.875% due 05/15/2032  | 200 | 209 |
| 8.000% due 05/15/2033  | 150 | 156 |
| 8.250% due 01/15/2029  | 75 | 79 |
| **Hawaiian Electric Co., Inc.** <br>6.000% due 10/01/2033 | 125 | 127 |
| **Hilcorp Energy I LP/Hilcorp Finance Co.** <br>6.000% due 04/15/2030 | 400 | 390 |
| **Lightning Power LLC** <br>7.250% due 08/15/2032 | 200 | 213 |
| **NGL Energy Operating LLC/NGL Energy Finance Corp.**  |  |  |
| 8.125% due 02/15/2029  | 25 | 26 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 8.375% due 02/15/2032  | 150 | 155 |
| **NRG Energy, Inc.**  |  |  |
| 3.375% due 02/15/2029  | 25 | 24 |
| 3.625% due 02/15/2031  | 175 | 164 |
| 5.750% due 07/15/2029  | 275 | 275 |
| 6.000% due 02/01/2033  | 75 | 77 |
| 6.250% due 11/01/2034  | 275 | 283 |
| **PacifiCorp** <br>7.375% due 09/15/2055 •  | 100 | 102 |
| **PBF Holding Co. LLC/PBF Finance Corp.**  |  |  |
| 7.875% due 09/15/2030  | 200 | 193 |
| 9.875% due 03/15/2030  | 50 | 51 |
| **PG&E Corp.** <br>7.375% due 03/15/2055 •  | 100 | 104 |
| **Talen Energy Supply LLC** <br>6.250% due 02/01/2034 | 650 | 663 |
| **TXNM Energy, Inc.** <br>7.000% due 07/31/2056 •  | 175 | 174 |
| **Vistra Operations Co. LLC**  |  |  |
| 4.375% due 05/01/2029  | 300 | 296 |
| 5.000% due 07/31/2027  | 75 | 75 |
| 6.875% due 04/15/2032  | 375 | 395 |
| 7.750% due 10/15/2031  | 150 | 159 |
| **VoltaGrid LLC** <br>7.375% due 11/01/2030 | 150 | 149 |
| **Yinson Production Financial Services Pte. Ltd.** <br>9.625% due 05/03/2029 | 25 | 26 |
|  |  | 6485 |
| Total Corporate Bonds & Notes (Cost $117,238) |  | 119261 |
| **U.S. TREASURY OBLIGATIONS 3.8%**  |  |  |
| **U.S. Treasury Notes**  |  |  |
| 3.375% due 09/15/2027 | 5475 | 5466 |
| 4.250% due 08/15/2035 | 64 | 64 |
| Total U.S. Treasury Obligations (Cost $5,531) |  | 5530 |
|  | SHARES |  |
| **COMMON STOCKS 3.7%**  |  |  |
| **COMMUNICATION SERVICES 0.3%**  |  |  |
| **Clear Channel Outdoor Holdings, Inc. (c)** | 163228 | 361 |
| **FINANCIALS 0.6%**  |  |  |
| **Hipotecaria Su Casita SA «(c)** | 78886 | 0 |
| **Rocket Cos., Inc. Class A** | 48114 | 931 |
|  |  | 931 |
| **HEALTH CARE 2.4%**  |  |  |
| **AmSurg Corp. «(c)(h)** | 78042 | 3505 |
| **BONDHOLDCO «(c)(h)** | 197572 | 0 |
| **BONDHOLDCO Class A «(c)(h)** | 197572 | 0 |
| **BONDHOLDCO Class B «(c)(h)** | 197572 | 0 |
| **BONDHOLDCO Class C «(c)(h)** | 197572 | 0 |
| **BONDHOLDCO Class E «(c)(h)** | 197572 | 0 |
| **BONDHOLDCO Class F «(c)(h)** | 197572 | 0 |
| **BONDHOLDCO Class G «(c)(h)** | 197572 | 0 |
| **BONDHOLDCO Class H «(c)(h)** | 197572 | 0 |
| **BONDHOLDCO Class I «(c)(h)** | 197572 | 0 |
| **BONDHOLDCO Class J «(c)(h)** | 197572 | 0 |
|  |  | 3505 |
| **INDUSTRIALS 0.4%**  |  |  |
| **Foresea Holdings SA «** | 22653 | 511 |
| **Luxco Co. Ltd. «(c)(h)** | 2414 | 43 |
|  |  | 554 |
| Total Common Stocks (Cost $4,924) |  | 5351 |
| **WARRANTS 0.0%**  |  |  |
| **ENERGY 0.0%**  |  |  |
| **Constellation Oil Services Holding SA - Exp. 06/10/2071 «(h)** | 3 | 0 |
| **INDUSTRIALS 0.0%**  |  |  |
| **Spirit Aviation Holdings, Inc. - Exp. 03/11/2035 «** | 7451 | 1 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Warrants (Cost $65) |  | 1 |
| **PREFERRED SECURITIES 0.2%**  |  |  |
| **BANKING & FINANCE 0.2%**  |  |  |
| **First Citizens BancShares, Inc.**<br>7.957% (TSFR3M + 4.234%) due 01/04/2027 (e) | 350000 | 356 |
| Total Preferred Securities (Cost $350) |  | 356 |
| **SHORT-TERM INSTRUMENTS 0.3%**  |  |  |
| **MUTUAL FUNDS 0.3%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.850% (g) | 499447 | 499 |
| Total Short-Term Instruments (Cost $499) |  | 499 |
| Total Investments in Securities (Cost $139,912) |  | 142232 |
| **INVESTMENTS IN AFFILIATES 1.5%**  |  |  |
| **COMMON STOCKS 0.1%**  |  |  |
| **AFFILIATED INVESTMENTS 0.1%**  |  |  |
| **Xfit Brands, Inc. «(c)** | 68040639 | 191 |
| Total Common Stocks (Cost $4,074) |  | 191 |
| **SHORT-TERM INSTRUMENTS 1.4%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 1.4%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 215414 | 2098 |
| Total Short-Term Instruments (Cost $2,098) |  | 2098 |
| Total Investments in Affiliates (Cost $6,172) |  | 2289 |
| Total Investments 97.8% (Cost $146,084) |  | $144521 |
| **Financial Derivative Instruments (i)(j) (0.0)**%(Cost or Premiums, net $862) |  | (10) |
| Other Assets and Liabilities, net 2.2% |  | 3230 |
| Net Assets 100.0% |  | $147741 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 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.** |
| **(a)** | **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.** |
| **(b)** | **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.** |
| **(c)** | **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.** |
| **(d)** | **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.** |
| **(e)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **(f)** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** |
| **(g)** | **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.** |
| **(h)** | **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 | Market<br>Value | 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 | 3261 | 3261 | 3505 | 3505 | 2.37 |
| BONDHOLDCO | BONDHOLDCO | BONDHOLDCO |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| BONDHOLDCO Class A | BONDHOLDCO Class A | BONDHOLDCO Class A |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| BONDHOLDCO Class B | BONDHOLDCO Class B | BONDHOLDCO Class B |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| BONDHOLDCO Class C | BONDHOLDCO Class C | BONDHOLDCO Class C |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| BONDHOLDCO Class E | BONDHOLDCO Class E | BONDHOLDCO Class E |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| BONDHOLDCO Class F | BONDHOLDCO Class F | BONDHOLDCO Class F |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| BONDHOLDCO Class G | BONDHOLDCO Class G | BONDHOLDCO Class G |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| BONDHOLDCO Class H | BONDHOLDCO Class H | BONDHOLDCO Class H |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| BONDHOLDCO Class I | BONDHOLDCO Class I | BONDHOLDCO Class I |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| BONDHOLDCO Class J | BONDHOLDCO Class J | BONDHOLDCO Class J |  | 03/09/2012 - 05/01/2013 | 03/09/2012 - 05/01/2013 | 0 | 0 | 0 | 0 | 0.00 |
| Constellation Oil Services Holding SA - Exp. 06/10/2071 | Constellation Oil Services Holding SA - Exp. 06/10/2071 | Constellation Oil Services Holding SA - Exp. 06/10/2071 |  | 06/10/2022 | 06/10/2022 | 0 | 0 | 0 | 0 | 0.00 |
| Luxco Co. Ltd. | Luxco Co. Ltd. | Luxco Co. Ltd. |  | 06/10/2022 | 06/10/2022 | 42 | 42 | 43 | 43 | 0.03 |
|  |  |  |  |  | $ | 3303 | $ | 3548 | 2.40%  | 2.40%  |
| **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** |
| **The average amount of borrowings outstanding during the period ended December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. 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 December 31, 2025 was $(930) at a weighted average interest rate of 4.439%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** |
| **(i)** | **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> | <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) |  | Asset |  | Liability |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 19 | 3967 | 4 | 4 | $ | 0 | $ | $(1) |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 26 | 2842 | (2) | (2) |  | 0 |  | (3) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 34 | 3823 | (4) | (4) |  | 0 |  | (7) |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 1 | 118 | (2) | (2) |  | 0 |  | (1) |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 11 | 1265 | (3) | (3) |  | 0 |  | (2) |
|  |  |  |  |  | (7) | $ | $ | $ | $ | (14) |
| **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 | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) |  | Asset |  | Liability |
| Euro-Bund March Futures  | Euro-Bund March Futures  | 03/2026 | 1 | (150) | 2 | 2 | $ | 1 | $ | $0 |

---

------

<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | 03/2026 | 03/2026 | 03/2026 | 1 |  | (116) | (116) |  | 1 | 1 |  | 0 | 0 |  |  |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $3 | 3 | 3 | $1 | 1 | 1 | $ | $ | $0 | 0 |
| **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** | $**(4)** | **(4)** | **(4)** | $**1** | **1** | **1** | **$** | **$** | $**(14)** | **(14)** |
| **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 - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Reference Entity | Reference Entity | Reference Entity | Fixed <br>Receive Rate | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(2)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(2)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(2)</sup> |  | Notional<br>Amount<sup>(3)</sup> |  | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Market<br>Value<sup>(4)</sup> | Market<br>Value<sup>(4)</sup> | Asset | Asset |  |  | Liability |
| Charter Communications  | Charter Communications  | Charter Communications  | 5.000% | 12/20/2030 | 12/20/2030 | 2.703 | 2.703 | % | $ | $125 | $ | 12 | $ | 1 | 1 | 13 | 13 | 13 | 0 | 0 | $ | $ | 0 |
| Telecom Italia spa  | Telecom Italia spa  | Telecom Italia spa  | 1.000 | 12/20/2029 | 12/20/2029 | 0.862 | 0.862 |  | EUR | 200 |  | (8) |  | 9 | 9 | 1 | 1 | 1 | 0 | 0 |  |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  | $ | 4 | $ | 10 | 10 | 14 | 14 | 14 | 0 | 0 | $ | $ | 0 |
| **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> | **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> | **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>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date |  |  | Notional<br>Amount<sup>(3)</sup> |  | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Market<br>Value<sup>(4)</sup> | Market<br>Value<sup>(4)</sup> | Asset | Asset |  |  | Liability |
| CDX.HY-45 5-Year Index  | CDX.HY-45 5-Year Index  | CDX.HY-45 5-Year Index  | 5.000% | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 | $ | $ | 10700 | $ | 797 | $ | 35 | 35 | 832 | 832 | 832 | 0 | 0 | $ | $ | (5) |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date |  | 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 | Market<br>Value | Asset | Asset | Asset |  | Liability |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750% | Annual | 12/18/2026 | 12/18/2026 | 12/18/2026 | $ | 3100 | $ | 22 | 22 | (31) | (31) | $(9) | (9) | (9) | 1 | 1 | 1 | $ | $0 |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.290 | Annual | 05/31/2030 | 05/31/2030 | 05/31/2030 |  | 548 |  | 0 | 0 | 3 | 3 | 3 | 3 | 3 | 1 | 1 | 1 |  | 0 |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.375 | Annual | 05/31/2030 | 05/31/2030 | 05/31/2030 |  | 1100 |  | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2031 | 12/18/2031 | 12/18/2031 |  | 725 |  | 6 | 6 | (15) | (15) | (9) | (9) | (9) | 1 | 1 | 1 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 03/19/2032 | 03/19/2032 | 03/19/2032 |  | 975 |  | 42 | 42 | (18) | (18) | 24 | 24 | 24 | 2 | 2 | 2 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/15/2032 | 05/15/2032 | 05/15/2032 |  | 2380 |  | (10) | (10) | (14) | (14) | (24) | (24) | (24) | 4 | 4 | 4 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  | $ | 61 | $ | (75) | (75) | (14) | (14) | (14) | 10 | 10 | $ | $ | 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** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **862** | **$** | **(30)** | **(30)** | **832** | **832** | **832** | **10** | **10** | **$** | **$** | **(5)** |
| **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,371 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <sup>(1)</sup> | If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
| <sup>(2)</sup> | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. |
| <sup>(3)</sup> | The maximum potential amount the Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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. | 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>(5)</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. | 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. |
| **(j)** | **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** | **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** |
| **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:** | **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:** | **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> | <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 | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month |  | Currency to<br>be Delivered | Currency to<br>be Delivered | 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 | Currency to<br>be Received | Asset | Asset | Asset | Asset | Liability | Liability | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 01/2026  | EUR | 66 | 66 | 66 | 66 | $ | $77 | 77 | 77 | 77 | 0 | 0 | 0 | 0 | $(1) | (1) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | 01/2026  | 01/2026  | $ | $480 | 480 | 480 | 480 | HKD | 3726 | 3726 | 3726 | 3726 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 01/2026  | EUR | 36 | 36 | 36 | 36 | $ | $42 | 42 | 42 | 42 | 0 | 0 | 0 | 0 | (1) | (1) | (1) | (1) |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | **0** | **0** | **0** | **$** | **(2)** | **(2)** | **(2)** | **(2)** |

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<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio'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 2 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |  |
| **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** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |  |
| Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | $0 | 0 | 0 | $4889 | 4889 | $6345 | 6345 | $ | 11234 |  |
| 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 |  |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | 0 | 0 | 0 | 19108 | 19108 | 0 | 0 |  | 19108 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 0 | 93668 | 93668 | 0 | 0 |  | 93668 |  |
| Utilities | Utilities | Utilities | Utilities | Utilities | 0 | 0 | 0 | 6485 | 6485 | 0 | 0 |  | 6485 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 | 0 | 5530 | 5530 | 0 | 0 |  | 5530 |  |
| 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 |  |
| Communication Services | Communication Services | Communication Services | Communication Services | Communication Services | 361 | 361 | 361 | 0 | 0 | 0 | 0 |  | 361 |  |
| Financials | Financials | Financials | Financials | Financials | 931 | 931 | 931 | 0 | 0 | 0 | 0 |  | 931 |  |
| Health Care | Health Care | Health Care | Health Care | Health Care | 0 | 0 | 0 | 0 | 0 | 3505 | 3505 |  | 3505 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 0 | 0 | 0 | 554 | 554 |  | 554 |  |
| Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 0 | 0 | 0 | 1 | 1 |  | 1 |  |
| Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |  |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | 0 | 0 | 0 | 356 | 356 | 0 | 0 |  | 356 |  |
| 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 | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 0 | 499 | 499 | 0 | 0 |  | 499 |  |
|  |  |  |  |  | $1292 | 1292 | 1292 | $130535 | 130535 | $10405 | 10405 | $ | 142232 |  |
| **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** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** |  |
| 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 |  |
| Affiliated Investments | Affiliated Investments | Affiliated Investments | Affiliated Investments | Affiliated Investments | 0 | 0 | 0 | 0 | 0 | 191 | 191 |  | 191 |  |
| 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 | 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 | 2098 | 2098 | 2098 | 0 | 0 | 0 | 0 |  | 2098 |  |
|  |  |  |  |  | $2098 | 2098 | 2098 | $0 | 0 | $191 | 191 | $ | 2289 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $3390 | 3390 | 3390 | $130535 | 130535 | $10596 | 10596 | $ | 144521 |  |
| **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**  |  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | $1 | 1 | 1 | $10 | 10 | $0 | 0 | $ | 11 |  |
| **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**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  |  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 0 | 0 | 0 | (19) | (19) | 0 | 0 |  | (19) |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | (2) | (2) | 0 | 0 |  | (2) |  |
|  |  |  |  |  | $0 | 0 | 0 | $(21) | (21) | $0 | 0 | $ | (21) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $1 | 1 | 1 | $(11) | (11) | $0 | 0 | $ | (10) |  |
| Totals | Totals | Totals | Totals | Totals | $3391 | 3391 | 3391 | $130524 | 130524 | $10596 | 10596 | $ | 144511 |  |
| **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** |
| Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases  | Net<br>Sales/Settlements  | Accrued<br>Discounts/<br>(Premiums) | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Transfers into<br>Level 3 | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 12/31/2025 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>12/31/2025<sup>(1)</sup> |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | 6347 | $325 | $(197) | $ | 21 | $0 | $ | (151) | $0 | 0 | $0 | 0 | $6345 | $(154) |
| Corporate Bonds & Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Banking & Finance | 0 | 0 | (1) |  | 0 | 0 |  | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Industrials | 410 | 0 | (499) |  | 0 | 0 |  | 89 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stocks |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Energy | 38 | 0 | (17) |  | 0 | 17 |  | (38) | 0 | 0 | 0 | 0 | 0 | 0 |
| Financials | 881 | 0 | (924) |  | 0 | (1525) |  | 1568 | 0 | 0 | 0 | 0 | 0 | 0 |
| Health Care | 4867 | 0 | 0 |  | 0 | 0 |  | (1362) | 0 | 0 | 0 | 0 | 3505 | (143) |
| Industrials | 805 | 90 | (215) |  | 0 | (64) |  | (62) | 0 | 0 | 0 | 0 | 554 | (60) |
| Warrants |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industrials | 267 | 0 | (125) |  | 0 | (28) |  | (113) | 0 | 0 | 0 | 0 | 1 | (111) |
|  | 13615 | $415 | $(1978) | $ | 21 | $(1600) | $ | (68) | $0 | 0 | $0 | 0 | $10405 | $(468) |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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** |
| Common Stocks |  |  |  |  |  |  |
| Consumer Discretionary | 193 | 0 | (2) | 0 | 191 | (2) |

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<br> Schedule of Investments PIMCO High Yield and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| $13808 | $415 | $(1978) | $21 | $(1600) | $(70) | $0 | $10596 | $(470) |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <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) |
| Category and Subcategory | Ending<br>Balance<br>at 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp; Unobservable Inputs | Input Value(s) | 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** |
| Loan Participations and Assignments | $6333 | 6333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | 16.360 |  |
|  | 12 | 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | 75.000 |  |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Health Care | 3505 | 3505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | 16.360 |  |
| Industrials | 511 | 511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | $22.563 |  |
|  | 43 | 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 15.012 |  |
| Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants |
| Industrials | 1 | 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Valuation Techniques<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; — |  |  |

---

**Investments in Affiliates, at Value**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Consumer Discretionary | Consumer Discretionary | 191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reference Instrument /Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Stock Price w/Liquidity Discount | $/% | 0.003/20.000 |
| Total | Total | $10596 |  |  |  |  |
| <sup>(1)</sup> | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. |
| <sup>(2)</sup> | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Portfolio. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Portfolio. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Portfolio. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Portfolio. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Portfolio. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Portfolio. |

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<br> Consolidated Schedule of Investments PIMCO International Portfolio December 31, 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 91.7% ¤** |  |  |
| **AUSTRALIA 1.4%**  |  |  |
| **SOVEREIGN ISSUES 1.4%**  |  |  |
| **Queensland Treasury Corp.** <br>1.500% due 08/20/2032 | 14000 | $7546 |
| Total Australia (Cost $7,523) |  | 7546 |
| **JAPAN 15.3%**  |  |  |
| **SOVEREIGN ISSUES 15.3%**  |  |  |
| **Japan Government Forty Year Bonds** <br>2.200% due 03/20/2064 | 1630000 | 7575 |
| **Japan Government Thirty Year Bonds**  |  |  |
| 2.300% due 12/20/2054  | 2800000 | 14357 |
| 2.400% due 03/20/2055  | 2710000 | 14214 |
| 2.800% due 06/20/2055  | 1700000 | 9716 |
| 3.200% due 09/20/2055  | 250000 | 1548 |
| **Japan Government Twenty Year Bonds**  |  |  |
| 2.000% due 12/20/2044  | 3460000 | 19222 |
| 2.400% due 03/20/2045  | 2100000 | 12411 |
| 2.700% due 09/20/2045  | 210000 | 1293 |
| Total Japan (Cost $96,720) |  | 80336 |
| **SUPRANATIONAL 7.3%**  |  |  |
| **CORPORATE BONDS & NOTES 0.9%**  |  |  |
| **European Investment Bank** <br>2.250% due 12/14/2029 | 3900 | 4545 |
| **SOVEREIGN ISSUES 6.4%**  |  |  |
| **European Union** <br>2.875% due 10/05/2029 | 28300 | 33724 |
| Total Supranational (Cost $34,715) |  | 38269 |
| **UNITED KINGDOM 9.7%**  |  |  |
| **SOVEREIGN ISSUES 9.7%**  |  |  |
| **U.K. Gilts**  |  |  |
| 0.500% due 10/22/2061  | 2900 | 1024 |
| 4.375% due 07/31/2054  | 42200 | 49935 |
| Total United Kingdom (Cost $52,853) |  | 50959 |
| **UNITED STATES 2.2%**  |  |  |
| **ASSET-BACKED SECURITIES 0.6%**  |  |  |
| **ABFC Trust** <br>4.546% due 06/25/2034 •  | $175 | 175 |
| **Amortizing Residential Collateral Trust** <br>4.546% due 10/25/2031 •  | 58 | 58 |
| **Argent Securities Trust** <br>4.026% due 07/25/2036 •  | 1153 | 312 |
| **Asset-Backed Securities Corp. Home Equity Loan Trust** <br>3.926% due 05/25/2037 •  | 32 | 23 |
| **C-BASS Trust**  |  |  |
| 2.991% due 01/25/2037 •  | 239 | 71 |
| 3.966% due 11/25/2036 •  | 27 | 12 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>4.379% due 01/25/2032 •  | 26 | 26 |
| **Home Equity Asset Trust** <br>4.446% due 11/25/2032 •  | 1 | 1 |
| **HSI Asset Securitization Corp. Trust** <br>3.946% due 10/25/2036 •  | 20 | 7 |
| **Long Beach Mortgage Loan Trust** <br>4.406% due 10/25/2034 •  | 23 | 23 |
| **Merrill Lynch Mortgage Investors Trust** <br>4.006% due 09/25/2037 •  | 21 | 4 |

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<br> Consolidated Schedule of Investments PIMCO International Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Morgan Stanley ABS Capital I, Inc. Trust**  |  |  |
| 3.906% due 05/25/2037 •  | 33 | 30 |
| 3.946% due 11/25/2036 •  | 5049 | 2556 |
| **Soundview Home Loan Trust** <br>3.966% due 11/25/2036 •  | 214 | 57 |
| **Washington Mutual Asset-Backed Certificates Trust** <br>3.851% due 10/25/2036 •  | 21 | 7 |
|  |  | 3362 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 1.5%**  |  |  |
| **Bear Stearns ALT-A Trust**  |  |  |
| 4.559% due 08/25/2036 ~  | 17 | 10 |
| 5.096% due 01/25/2036 ~  | 209 | 199 |
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 4.306% due 05/25/2035 •  | 59 | 53 |
| 4.426% due 03/25/2035 •  | 229 | 212 |
| 4.446% due 03/25/2035 •  | 29 | 15 |
| 4.486% due 03/25/2035 •  | 1284 | 1194 |
| 4.506% due 02/25/2035 •  | 4 | 4 |
| 4.606% due 09/25/2034 •  | 2 | 2 |
| **Citigroup Mortgage Loan Trust, Inc.** <br>5.395% due 08/25/2035 ~ | 5 | 4 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 4.028% due 02/20/2047 •  | 2318 | 1904 |
| 4.166% due 02/25/2047 •  | 47 | 44 |
| 4.268% due 03/20/2046 •  | 185 | 175 |
| 4.366% due 12/25/2035 •  | 20 | 19 |
| 4.406% due 12/25/2035 •  | 127 | 121 |
| 4.406% due 02/25/2037 •  | 55 | 46 |
| 4.446% due 08/25/2035 •  | 131 | 123 |
| 4.446% due 12/25/2035 •  | 542 | 419 |
| 4.546% due 09/25/2035 •  | 480 | 438 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>6.500% due 04/25/2033 | 1 | 2 |
| **Deutsche Alt-B Securities, Inc. Mortgage Loan Trust** <br>3.946% due 10/25/2036 •  | 1 | 1 |
| **DSLA Mortgage Loan Trust**  |  |  |
| 4.266% due 03/19/2045 •  | 85 | 81 |
| 4.366% due 08/19/2045 •  | 67 | 60 |
| 4.506% due 09/19/2045 •  | 916 | 482 |
| **GreenPoint MTA Trust** <br>4.306% due 06/25/2045 •  | 560 | 449 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 4.326% due 06/19/2035 •  | 64 | 63 |
| 4.326% due 01/19/2036 •  | 5 | 5 |
| 4.326% due 03/19/2036 •  | 589 | 552 |
| 4.346% due 01/19/2036 •  | 1101 | 711 |
| 4.466% due 11/19/2035 •  | 55 | 35 |
| 4.506% due 09/19/2035 •  | 7 | 4 |
| 4.528% due 06/20/2035 •  | 25 | 24 |
| **Nomura Asset Acceptance Corp. Alternative Loan Trust** <br>4.343% due 10/25/2035 ~ | 7 | 6 |
| **RALI Trust** <br>4.266% due 04/25/2046 •  | 117 | 29 |
| **Sequoia Mortgage Trust**  |  |  |
| 4.548% due 07/20/2033 •  | 118 | 119 |
| 4.979% due 10/20/2034 •  | 90 | 81 |
| **Sequoia Mortgage Trust 5** <br>4.546% due 10/19/2026 •  | 1 | 1 |
| **Thornburg Mortgage Securities Trust** <br>4.386% due 03/25/2044 •  | 16 | 16 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 3.878% due 12/25/2046 •  | 48 | 43 |
| 4.171% due 02/27/2034 •  | 1 | 1 |
| 4.426% due 10/25/2045 •  | 6 | 5 |
| 4.466% due 01/25/2045 •  | 3 | 3 |
| 4.486% due 01/25/2045 •  | 4 | 4 |
| 4.486% due 07/25/2045 •  | 4 | 4 |
| 5.229% due 11/25/2042 •  | 1 | 1 |
| 5.429% due 08/25/2042 •  | 2 | 2 |
| 5.529% due 10/25/2046 •  | 14 | 14 |
| 5.529% due 11/25/2046 •  | 198 | 179 |
|  |  | 7959 |
| **U.S. GOVERNMENT AGENCIES 0.1%**  |  |  |
| **Federal Home Loan Mortgage Corp.**<br>6.503% due 10/01/2036 •  | 7 | 7 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 6.500% due 07/15/2028 | 21 | 21 |
| **Federal Home Loan Mortgage Corp. Securities REMICS Trust**<br>3.996% due 09/25/2035 •  | 422 | 414 |
| **Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates**  |  |  |
| 4.269% due 09/25/2031 •  | 3 | 4 |
| 5.229% due 10/25/2044 - 02/25/2045 •  | 31 | 29 |

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<br> Consolidated Schedule of Investments PIMCO International Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.429% due 07/25/2044 •  | 6 | 6 |
| **Federal National Mortgage Association**  |  |  |
| 5.756% due 12/01/2034 •  | 1 | 1 |
| 6.133% due 12/01/2030 •  | 0 | 1 |
| 6.346% due 11/01/2034 •  | 4 | 4 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 4.306% due 03/25/2034 •  | 0 | 1 |
| **Federal National Mortgage Association REMICS Trust**<br>6.000% due 07/25/2044 | 6 | 6 |
| **Federal National Mortgage Association Trust**<br>4.536% due 09/25/2042 •  | 11 | 11 |
| **Government National Mortgage Association**  |  |  |
| 5.625% (H15T1Y + 1.500%) due 04/20/2026 - 05/20/2026 ~ | 1 | 0 |
| 5.625% due 04/20/2030 - 06/20/2030 •  | 65 | 66 |
| **Government National Mortgage Association REMICS**<br>6.000% due 08/20/2034 | 114 | 115 |
|  |  | 686 |
| Total United States (Cost $17,542) |  | 12007 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 55.8%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.850% (c) | 506999 | 507 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **REPURCHASE AGREEMENTS (d) 54.5%** |  | 286900 |
| **U.S. TREASURY BILLS 1.2%**  |  |  |
| 3.698% due 01/08/2026 - 04/21/2026 (a)(b)(g) | $6407 | 6358 |
| Total Short-Term Instruments (Cost $293,764) |  | 293765 |
| Total Investments in Securities (Cost $503,117) |  | 482882 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 29.9%**  |  |  |
| **SHORT-TERM INSTRUMENTS 29.9%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 29.9%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 16181275 | 157622 |
| Total Short-Term Instruments (Cost $157,453) |  | 157622 |
| Total Investments in Affiliates (Cost $157,453) |  | 157622 |
| Total Investments 121.6% (Cost $660,570) |  | $640504 |
| **Financial Derivative Instruments (e)(f) (0.7)**%(Cost or Premiums, net $(10964)) |  | (3919) |
| Other Assets and Liabilities, net (20.8)% |  | (109851) |
| Net Assets 100.0% |  | $526734 |

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<br> Consolidated Schedule of Investments PIMCO International Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED 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.** | **\* 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.** | **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).** | **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.** | **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.** | **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.** |
| **(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.** | **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.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(c)** | **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.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **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** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **(d)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Lending<br>Rate | Maturity<br>Date |  | Principal<br>Amount | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Collateral<br>(Received) | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 3.790 | 01/02/2026 | $ | $100800 | 100800 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | $(102809) | (102809) | (102809) | $100800 | 100800 | 100800 |
|  | 3.790 | 01/02/2026 |  | 31500 | 31500 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | (32130) | (32130) | (32130) | 31500 | 31500 | 31500 |
|  | 3.870 | 01/02/2026 |  | 101100 | 101100 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2029 | (103047) | (103047) | (103047) | 101100 | 101100 | 101122 |
|  | 3.870 | 01/02/2026 |  | 31500 | 31500 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | (32076) | (32076) | (32076) | 31500 | 31500 | 31507 |
|  | 3.930  | 01/02/2026 |  | 5000 | 5000 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 11/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 11/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 11/30/2029 | (5099) | (5099) | (5099) | 5000 | 5000 | 5001 |
| SAL | 3.930  | 01/02/2026 |  | 17000 | 17000 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 12/24/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 12/24/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 12/24/2026 | (17348) | (17348) | (17348) | 17000 | 17000 | 17004 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  | $**(292509)** | **(292509)** | **(292509)** | $**286900** | **286900** | **286934** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |
| **(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** | **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:** | **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** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Description |  | Expiration<br>Month | # of<br>Contracts | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | 03/2026 | 524 | 524 | 38286 | $(13) | (13) | (13) | 44 | 44 | 44 | 0 |
| Canada Government 5-Year Bond March Futures  | Canada Government 5-Year Bond March Futures  | Canada Government 5-Year Bond March Futures  | Canada Government 5-Year Bond March Futures  | 03/2026 | 242 | 242 | 19975 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Canada Government 10-Year Bond March Futures  | Canada Government 10-Year Bond March Futures  | Canada Government 10-Year Bond March Futures  | Canada Government 10-Year Bond March Futures  | 03/2026 | 1079 | 1079 | 95051 | (927) | (927) | (927) | 0 | 0 | 0 | (8) |
| Euro-Bobl March Futures  | Euro-Bobl March Futures  | Euro-Bobl March Futures  | Euro-Bobl March Futures  | 03/2026 | 22 | 22 | 3003 | (22) | (22) | (22) | 0 | 0 | 0 | (2) |
| Long Guilt March Futures  | Long Guilt March Futures  | Long Guilt March Futures  | Long Guilt March Futures  | 03/2026 | 299 | 299 | 36826 | 288 | 288 | 288 | 64 | 64 | 64 | (28) |
|  |  |  |  |  |  |  |  | (674) | (674) | $ | 108 | 108 | $ | (38) |
| **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 |  | Expiration<br>Month | # of<br>Contracts | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | 03/2026 | 646 | 646 | (96848) | $1245 | 1245 | 1245 | 175 | 175 | 175 | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **571** | **571** | **$** | **283** | **283** | **$** | **(38)** |
| **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:** |
| **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>(2)</sup> | <u>Variation Margin</u><sup>(2)</sup> | <u>Variation Margin</u><sup>(2)</sup> | <u>Variation Margin</u><sup>(2)</sup> |
| Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Market<br>Value | Asset | Asset | Liability |
| Pay | 1-Day GBP-SONIO Compounded-OIS | Annual | 09/17/2027 | 09/17/2027 | 59100 | 59100 | $(356) | 250 | (106) | (106) | (106) | 6 | 6 | $0 |

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<br> Consolidated Schedule of Investments PIMCO International Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | 1-Day GBP-SONIO Compounded-OIS | 3.750 | Annual | 09/17/2030 |  | 30600 | (134) | 304 | 170 | 34 | 0 |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 09/17/2035 |  | 1300 | (6) | 9 | 3 | 2 | 0 |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 4.500 | Annual | 09/17/2055 |  | 4040 | 175 | (221) | (46) | 0 | (11) |
| Receive<sup>(1)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.500 | Annual | 03/18/2056 |  | 8300 | (175) | 110 | (65) | 0 | (22) |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 1.000 | Annual | 09/17/2030 | JPY | 320000 | (14) | 14 | 0 | 2 | (2) |
| Receive<sup>(1)</sup> | 1-Day JPY-MUTKCALM Compounded-OIS | 1.250 | Annual | 03/18/2031 |  | 520000 | 28 | 21 | 49 | 6 | 0 |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.250 | Annual | 06/18/2032 |  | 17580000 | (3188) | 5158 | 1970 | 207 | (4) |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 1.250 | Annual | 09/17/2035 |  | 160000 | (16) | 16 | 0 | 1 | (1) |
| Receive<sup>(1)</sup> | 1-Day JPY-MUTKCALM Compounded-OIS | 1.500 | Annual | 03/18/2036 |  | 180000 | 32 | 12 | 44 | 3 | 0 |
| Pay | 3-Month NZD-BBR | 3.750 | Semi-Annual | 06/15/2027 | NZD | 132500 | (999) | 2145 | 1146 | 36 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 3.750 | Semi-Annual | 03/19/2030 | AUD | 31900 | (9) | (532) | (541) | 0 | (17) |
| Receive | 6-Month AUD-BBR-BBSW | 4.000 | Semi-Annual | 06/18/2030 |  | 1900 | (15) | 38 | 23 | 1 | 0 |
| Pay<sup>(1)</sup> | 6-Month AUD-BBR-BBSW | 3.750 | Semi-Annual | 03/18/2031 |  | 100 | (3) | 1 | (2) | 0 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/20/2033 |  | 50600 | (941) | 701 | (240) | 0 | (33) |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 03/20/2034 |  | 25400 | (412) | 245 | (167) | 0 | (21) |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/18/2034 |  | 81700 | 477 | (1177) | (700) | 0 | (92) |
| Receive | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 06/18/2035 |  | 4100 | (65) | 120 | 55 | 5 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/17/2035 |  | 1900 | 27 | (51) | (24) | 0 | (2) |
| Pay<sup>(1)</sup> | 6-Month AUD-BBR-BBSW | 4.250 | Semi-Annual | 03/18/2036 |  | 56600 | (1663) | (44) | (1707) | 0 | (68) |
| Pay | 6-Month CLP-CHILIBOR | 4.000 | Semi-Annual | 09/17/2030 |  | 1700 | 10 | (31) | (21) | 0 | (1) |
| Pay<sup>(1)</sup> | 6-Month EUR-EURIBOR | 2.000 | Annual | 03/18/2028 | EUR | 134700 | (485) | (462) | (947) | 0 | (13) |
| Receive | 6-Month EUR-EURIBOR | 2.063 | Annual | 10/05/2029 |  | 32200 | 0 | 187 | 187 | 21 | 0 |
| Receive | 6-Month EUR-EURIBOR | 2.280 | Annual | 03/04/2030 |  | 4200 | (6) | (10) | (16) | 2 | 0 |
| Receive | 6-Month EUR-EURIBOR | 2.400 | Annual | 04/09/2030 |  | 5900 | (12) | (44) | (56) | 3 | 0 |
| Receive | 6-Month EUR-EURIBOR | 2.350 | Annual | 04/29/2030 |  | 5300 | (10) | (23) | (33) | 3 | 0 |
| Receive<sup>(1)</sup> | 6-Month EUR-EURIBOR | 2.500 | Annual | 03/18/2031 |  | 10400 | (25) | 89 | 64 | 8 | 0 |
| Pay | 6-Month EUR-EURIBOR | 2.380 | Annual | 12/31/2034 |  | 3300 | (9) | (141) | (150) | 0 | (4) |
| Pay | 6-Month EUR-EURIBOR | 2.420 | Annual | 03/07/2035 |  | 4000 | (10) | (103) | (113) | 0 | (6) |
| Pay | 6-Month EUR-EURIBOR | 2.460 | Annual | 03/13/2035 |  | 4100 | (11) | (89) | (100) | 0 | (6) |
| Pay | 6-Month EUR-EURIBOR | 2.610 | Annual | 03/24/2035 |  | 3900 | (11) | (25) | (36) | 0 | (6) |
| Receive | 6-Month EUR-EURIBOR | 2.510 | Annual | 04/09/2035 |  | 4000 | (14) | 95 | 81 | 6 | 0 |
| Receive | 6-Month EUR-EURIBOR | 2.530 | Annual | 04/23/2035 |  | 5000 | (20) | 113 | 93 | 7 | 0 |
| Receive | 6-Month EUR-EURIBOR | 2.450 | Annual | 05/05/2035 |  | 3900 | (13) | 121 | 108 | 6 | 0 |
| Pay<sup>(1)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 03/18/2036 |  | 147060 | (157) | (2952) | (3109) | 0 | (203) |
| Receive<sup>(1)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 03/18/2056 |  | 55160 | (697) | 3986 | 3289 | 184 | 0 |
| Pay | CAONREPO | 3.000 | Semi-Annual | 06/18/2030 | CAD | 1500 | 26 | (14) | 12 | 0 | (1) |
| Receive | CAONREPO | 2.750 | Semi-Annual | 09/17/2030 |  | 1500 | 1 | (1) | 0 | 1 | 0 |
| Receive | CAONREPO | 2.500 | Semi-Annual | 12/17/2030 |  | 100 | 1 | 0 | 1 | 0 | 0 |
| Receive | CAONREPO | 3.500 | Semi-Annual | 06/01/2032 |  | 82700 | (666) | (1476) | (2142) | 49 | 0 |
| Receive | CAONREPO | 2.850 | Semi-Annual | 06/01/2033 |  | 15600 | 130 | (32) | 98 | 10 | 0 |
| Receive | CAONREPO | 2.900 | Semi-Annual | 06/01/2033 |  | 11100 | (44) | 87 | 43 | 7 | 0 |
| Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2033 |  | 15700 | (13) | (4) | (17) | 10 | 0 |
| Receive | CAONREPO | 3.750 | Semi-Annual | 12/20/2033 |  | 10900 | (664) | 254 | (410) | 8 | 0 |
| Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2034 |  | 41100 | 67 | 48 | 115 | 32 | 0 |
| Pay | CAONREPO | 3.250 | Semi-Annual | 06/18/2035 |  | 2500 | 54 | (35) | 19 | 0 | (2) |
| Receive | CAONREPO | 3.000 | Semi-Annual | 09/17/2035 |  | 800 | 6 | 0 | 6 | 1 | 0 |
| Receive | CAONREPO | 2.750 | Semi-Annual | 12/17/2035 |  | 2600 | 73 | (6) | 67 | 2 | 0 |

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<br> Consolidated Schedule of Investments PIMCO International Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay<sup>(1)</sup> | CAONREPO | CAONREPO | 3.000 | Semi-Annual | Semi-Annual | 03/18/2036 | 87500 | 87500 | 87500 |  | (1208) | (1208) |  | 118 | 118 |  | (1090) |  | 0 | 0 |  | (71) |
| **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** | **$** | $**(10964)** | **(10964)** | **(10964)** | $**6769** | **6769** | **6769** | $**(4195)** | **(4195)** | $**663** | **663** | **663** | $**(586)** | **(586)** |
| **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,919 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| 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. | 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. |
| **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** | **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** |
| **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:** | **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:** | **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> | <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 | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month |  | Currency to<br>be Delivered | Currency to<br>be Delivered | 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 | Currency to<br>be Received |  | Asset | Asset | Asset | Asset | Liability | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | 01/2026  | 01/2026  | 01/2026  | JPY | 192001 | 192001 | 192001 | 192001 | $ | $1235 | 1235 | 1235 | 1235 | $ | 9 | 9 | 9 | 9 | $0 | 0 | 0 |
|  |  | 01/2026  | 01/2026  | 01/2026  | $ | $342 | 342 | 342 | 342 | NZD | 609 | 609 | 609 | 609 |  | 9 | 9 | 9 | 9 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 01/2026  | 01/2026  | 01/2026  |  | 544 | 544 | 544 | 544 | AUD | 824 | 824 | 824 | 824 |  | 5 | 5 | 5 | 5 | 0 | 0 | 0 |
|  |  | 01/2026  | 01/2026  | 01/2026  |  | 528 | 528 | 528 | 528 | GBP | 401 | 401 | 401 | 401 |  | 13 | 13 | 13 | 13 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 01/2026  | 01/2026  | 01/2026  | AUD | 9584 | 9584 | 9584 | 9584 | $ | $6230 | 6230 | 6230 | 6230 |  | 0 | 0 | 0 | 0 | (167) | (167) | (167) |
|  |  | 01/2026  | 01/2026  | 01/2026  | $ | $2 | 2 | 2 | 2 | CNH | 16 | 16 | 16 | 16 |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  | 01/2026  | 01/2026  | 01/2026  |  | 300 | 300 | 300 | 300 | EUR | 255 | 255 | 255 | 255 |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  | 01/2026  | 01/2026  | 01/2026  |  | 357 | 357 | 357 | 357 | NZD | 628 | 628 | 628 | 628 |  | 5 | 5 | 5 | 5 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 01/2026  | 01/2026  | 01/2026  | CAD | 7146 | 7146 | 7146 | 7146 | $ | $5123 | 5123 | 5123 | 5123 |  | 0 | 0 | 0 | 0 | (86) | (86) | (86) |
|  |  | 01/2026  | 01/2026  | 01/2026  | GBP | 456 | 456 | 456 | 456 |  | 610 | 610 | 610 | 610 |  | 0 | 0 | 0 | 0 | (4) | (4) | (4) |
|  |  | 01/2026  | 01/2026  | 01/2026  | $ | $17723 | 17723 | 17723 | 17723 | AUD | 26681 | 26681 | 26681 | 26681 |  | 87 | 87 | 87 | 87 | (3) | (3) | (3) |
|  |  | 01/2026  | 01/2026  | 01/2026  |  | 68503 | 68503 | 68503 | 68503 | CAD | 94393 | 94393 | 94393 | 94393 |  | 307 | 307 | 307 | 307 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | 01/2026  | 01/2026  | 01/2026  | JPY | 2258 | 2258 | 2258 | 2258 | $ | $14 | 14 | 14 | 14 |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  | 01/2026  | 01/2026  | 01/2026  | $ | $624 | 624 | 624 | 624 | NZD | 1114 | 1114 | 1114 | 1114 |  | 17 | 17 | 17 | 17 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 01/2026  | 01/2026  | AUD | 1850 | 1850 | 1850 | 1850 | $ | $1230 | 1230 | 1230 | 1230 |  | 0 | 0 | 0 | 0 | (5) | (5) | (5) |
|  |  | 01/2026  | 01/2026  | 01/2026  | JPY | 1061 | 1061 | 1061 | 1061 |  | 7 | 7 | 7 | 7 |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  | 01/2026  | 01/2026  | 01/2026  | $ | $1866 | 1866 | 1866 | 1866 | CAD | 2627 | 2627 | 2627 | 2627 |  | 49 | 49 | 49 | 49 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | 01/2026  | 01/2026  | 01/2026  | AUD | 30872 | 30872 | 30872 | 30872 | $ | $20232 | 20232 | 20232 | 20232 |  | 15 | 15 | 15 | 15 | (387) | (387) | (387) |
|  |  | 01/2026  | 01/2026  | 01/2026  | GBP | 50049 | 50049 | 50049 | 50049 |  | 65724 | 65724 | 65724 | 65724 |  | 0 | 0 | 0 | 0 | (1738) | (1738) | (1738) |
|  |  | 01/2026  | 01/2026  | 01/2026  | MXN | 4232 | 4232 | 4232 | 4232 |  | 228 | 228 | 228 | 228 |  | 0 | 0 | 0 | 0 | (6) | (6) | (6) |
|  |  | 01/2026  | 01/2026  | 01/2026  | $ | $731 | 731 | 731 | 731 | NZD | 1298 | 1298 | 1298 | 1298 |  | 16 | 16 | 16 | 16 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 01/2026  | 01/2026  | CAD | 99238 | 99238 | 99238 | 99238 | $ | $70510 | 70510 | 70510 | 70510 |  | 0 | 0 | 0 | 0 | (1832) | (1832) | (1832) |
|  |  | 01/2026  | 01/2026  | 01/2026  | JPY | 4147391 | 4147391 | 4147391 | 4147391 |  | 26637 | 26637 | 26637 | 26637 |  | 141 | 141 | 141 | 141 | 0 | 0 | 0 |
|  |  | 01/2026  | 01/2026  | 01/2026  | $ | $11567 | 11567 | 11567 | 11567 | AUD | 17243 | 17243 | 17243 | 17243 |  | 0 | 0 | 0 | 0 | (59) | (59) | (59) |
|  |  | 01/2026  | 01/2026  | 01/2026  |  | 736 | 736 | 736 | 736 | CAD | 1031 | 1031 | 1031 | 1031 |  | 16 | 16 | 16 | 16 | 0 | 0 | 0 |
|  |  | 01/2026  | 01/2026  | 01/2026  |  | 1346 | 1346 | 1346 | 1346 | JPY | 210100 | 210100 | 210100 | 210100 |  | 2 | 2 | 2 | 2 | (6) | (6) | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 01/2026  | 01/2026  | 01/2026  | JPY | 5417839 | 5417839 | 5417839 | 5417839 | $ | $34793 | 34793 | 34793 | 34793 |  | 179 | 179 | 179 | 179 | 0 | 0 | 0 |
|  |  | 01/2026  | 01/2026  | 01/2026  | $ | $494 | 494 | 494 | 494 | EUR | 425 | 425 | 425 | 425 |  | 5 | 5 | 5 | 5 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | 01/2026  | 01/2026  | 01/2026  | EUR | 43607 | 43607 | 43607 | 43607 | $ | $50487 | 50487 | 50487 | 50487 |  | 0 | 0 | 0 | 0 | (782) | (782) | (782) |
|  |  | 01/2026  | 01/2026  | 01/2026  | JPY | 3907737 | 3907737 | 3907737 | 3907737 |  | 24986 | 24986 | 24986 | 24986 |  | 20 | 20 | 20 | 20 | 0 | 0 | 0 |
|  |  | 03/2026  | 03/2026  | 03/2026  | $ | $1 | 1 | 1 | 1 | MXN | 15 | 15 | 15 | 15 |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | 01/2026  | 01/2026  | 01/2026  | AUD | 13098 | 13098 | 13098 | 13098 | $ | $8669 | 8669 | 8669 | 8669 |  | 0 | 0 | 0 | 0 | (72) | (72) | (72) |
|  |  | 01/2026  | 01/2026  | 01/2026  | $ | $617 | 617 | 617 | 617 | JPY | 96000 | 96000 | 96000 | 96000 |  | 0 | 0 | 0 | 0 | (4) | (4) | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | 01/2026  | 01/2026  | 01/2026  | AUD | 8624 | 8624 | 8624 | 8624 | $ | $5771 | 5771 | 5771 | 5771 |  | 15 | 15 | 15 | 15 | 0 | 0 | 0 |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | **$** | **910** | **910** | **910** | **$** | **(5151)** | **(5151)** | **(5151)** |
| **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $5,198 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 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** | **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** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |  |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 1 | Level 2 | Level 2 | Level 2 | Level 3 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |  |  |
| **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** | **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** |  |  |
| Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia | Australia |  |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | $0 | 0 | 0 | 0 | $ | 7546 | 7546 | $ | 0 | 0 | $ | $7546 | 7546 |  |  |
| Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan | Japan |  |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 | 0 | 0 |  | 80336 | 80336 |  | 0 | 0 |  | 80336 | 80336 |  |  |
| Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational | Supranational |  |  |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | 0 | 0 | 0 | 0 |  | 4545 | 4545 |  | 0 | 0 |  | 4545 | 4545 |  |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 | 0 | 0 |  | 33724 | 33724 |  | 0 | 0 |  | 33724 | 33724 |  |  |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |  |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 | 0 | 0 |  | 50959 | 50959 |  | 0 | 0 |  | 50959 | 50959 |  |  |
| 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 | United States | United States | United States | United States | United States |  |  |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | 0 | 0 | 0 | 0 |  | 3362 | 3362 |  | 0 | 0 |  | 3362 | 3362 |  |  |
| 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 | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 0 | 0 | 0 |  | 7959 | 7959 |  | 0 | 0 |  | 7959 | 7959 |  |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 | 0 | 0 |  | 686 | 686 |  | 0 | 0 |  | 686 | 686 |  |  |
| 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 | 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 | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 0 | 0 |  | 507 | 507 |  | 0 | 0 |  | 507 | 507 |  |  |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 | 0 | 0 |  | 286900 | 286900 |  | 0 | 0 |  | 286900 | 286900 |  |  |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 0 | 0 |  | 6358 | 6358 |  | 0 | 0 |  | 6358 | 6358 |  |  |
|  |  |  |  |  |  |  |  | $0 | 0 | 0 | 0 | $ | 482882 | 482882 | $ | 0 | 0 | $ | $482882 | 482882 |  |  |
| **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** | **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** |  |  |
| 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 | 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 | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | $157622 | 157622 | 157622 | 157622 | $ | 0 | 0 | $ | 0 | 0 | $ | $157622 | 157622 |  |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $157622 | 157622 | 157622 | 157622 | $ | 482882 | 482882 | $ | 0 | 0 | $ | $640504 | 640504 |  |  |

---

------

<br> Consolidated Schedule of Investments PIMCO International Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 | 283 | 663 | 0 | 946 |
| Over the counter | 0 | 910 | 0 | 910 |
|  | $283 | $1573 | $0 | $1856 |
| **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 | (38) | (586) | 0 | (624) |
| Over the counter | 0 | (5151) | 0 | (5151) |
|  | $(38) | $(5737) | $0 | $(5775) |
| Total Financial Derivative Instruments | $245 | $(4164) | $0 | $(3919) |
| Totals | $157867 | $478718 | $0 | $636585 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio December 31, 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 100.7% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 0.2%**  |  |  |
| **Castlelake LP**<br>2.950% due 05/12/2031 «~ | $4806 | $4593 |
| Total Loan Participations and Assignments (Cost $4,802) |  | 4593 |
| **CORPORATE BONDS & NOTES 79.7%**  |  |  |
| **BANKING & FINANCE 40.9%**  |  |  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**  |  |  |
| 2.450% due 10/29/2026  | 3761 | 3711 |
| 3.650% due 07/21/2027  | 2200 | 2187 |
| 4.450% due 04/03/2026  | 10425 | 10426 |
| 4.625% due 10/15/2027  | 2600 | 2623 |
| **Aircastle Ltd.**  |  |  |
| 2.850% due 01/26/2028  | 8800 | 8559 |
| 5.950% due 02/15/2029  | 2471 | 2575 |
| 6.500% due 07/18/2028  | 1200 | 1262 |
| **Ally Financial, Inc.**  |  |  |
| 6.992% due 06/13/2029 •  | 2068 | 2185 |
| 8.000% due 11/01/2031 (i)  | 3675 | 4177 |
| 8.000% due 11/01/2031  | 100 | 114 |
| **American Assets Trust LP**  |  |  |
| 3.375% due 02/01/2031  | 6900 | 6293 |
| 6.150% due 10/01/2034  | 3000 | 3051 |
| **American Express Co.** <br>5.442% due 01/30/2036 •  | 300 | 312 |
| **American Homes 4 Rent LP**  |  |  |
| 3.625% due 04/15/2032  | 9000 | 8511 |
| 4.250% due 02/15/2028  | 962 | 965 |
| 4.900% due 02/15/2029  | 340 | 346 |
| **American Tower Corp.**  |  |  |
| 1.500% due 01/31/2028  | 1000 | 950 |
| 2.100% due 06/15/2030  | 100 | 91 |
| 2.700% due 04/15/2031  | 4000 | 3675 |
| 2.750% due 01/15/2027  | 7500 | 7404 |
| 3.550% due 07/15/2027  | 1811 | 1798 |
| 3.800% due 08/15/2029  | 525 | 517 |
| 3.950% due 03/15/2029  | 1000 | 992 |
| 4.050% due 03/15/2032  | 10100 | 9835 |
| 5.000% due 01/31/2030  | 5300 | 5429 |
| 5.200% due 02/15/2029  | 700 | 721 |
| 5.250% due 07/15/2028  | 400 | 411 |
| **Americold Realty Operating Partnership LP** <br>5.600% due 05/15/2032 | 100 | 101 |
| **Antares Holdings LP**  |  |  |
| 2.750% due 01/15/2027  | 5700 | 5573 |
| 3.750% due 07/15/2027  | 6700 | 6555 |
| 3.950% due 07/15/2026  | 5400 | 5381 |
| 6.350% due 10/23/2029  | 3500 | 3575 |
| 6.500% due 02/08/2029  | 2000 | 2046 |
| **ARES Finance Co. III LLC** <br>4.125% due 06/30/2051 •  | 100 | 99 |
| **ARES Management Corp.** <br>6.375% due 11/10/2028 | 8200 | 8681 |
| **ARES Strategic Income Fund** <br>4.850% due 01/15/2029 | 3800 | 3757 |
| **Assured Guaranty U.S. Holdings, Inc.** <br>6.125% due 09/15/2028 | 6000 | 6310 |
| **Aviation Capital Group LLC**  |  |  |
| 3.500% due 11/01/2027  | 9876 | 9733 |
| 5.125% due 04/10/2030  | 500 | 508 |
| 5.375% due 07/15/2029  | 6900 | 7073 |
| 6.250% due 04/15/2028  | 100 | 104 |
| **Avolon Holdings Funding Ltd.**  |  |  |
| 2.528% due 11/18/2027  | 8207 | 7963 |
| 4.950% due 01/15/2028  | 2000 | 2025 |
| 5.150% due 01/15/2030  | 1000 | 1017 |
| 5.750% due 03/01/2029  | 400 | 414 |
| 6.375% due 05/04/2028  | 400 | 417 |
| **Banco Bilbao Vizcaya Argentaria SA** <br>7.883% due 11/15/2034 •  | 1800 | 2098 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Banco Inbursa SA Institucion De Banca Multiple Grupo Financiero Inbursa** <br>4.375% due 04/11/2027 | 1700 | 1699 |
| **Banco Santander SA**  |  |  |
| 4.175% due 03/24/2028 •  | 2000 | 2001 |
| 5.294% due 08/18/2027  | 2000 | 2038 |
| 5.538% due 03/14/2030 •  | 200 | 207 |
| 6.607% due 11/07/2028 (i)  | 18700 | 19968 |
| **Bank of America Corp.**  |  |  |
| 1.898% due 07/23/2031 •  | 2000 | 1797 |
| 1.922% due 10/24/2031 •  | 2000 | 1789 |
| 3.194% due 07/23/2030 •  | 205 | 198 |
| 3.419% due 12/20/2028 •  | 2905 | 2869 |
| 3.593% due 07/21/2028 •  | 347 | 345 |
| 3.824% due 01/20/2028 •  | 500 | 499 |
| 4.376% due 04/27/2028 •  | 400 | 402 |
| 4.897% (SOFRRATE + 1.010%) due 01/24/2031 ~  | 3900 | 3903 |
| 5.202% due 04/25/2029 •  | 400 | 410 |
| 5.819% due 09/15/2029 •  | 7445 | 7772 |
| 5.872% due 09/15/2034 •  | 400 | 427 |
| 6.204% due 11/10/2028 •  | 681 | 708 |
| **Barclays PLC**  |  |  |
| 2.279% due 11/24/2027 •  | 1300 | 1280 |
| 5.215% (SOFRRATE + 1.490%) due 03/12/2028 ~  | 200 | 202 |
| 5.603% (SOFRRATE + 1.880%) due 09/13/2027 ~  | 15000 | 15134 |
| 6.224% due 05/09/2034 •  | 10500 | 11296 |
| 7.385% due 11/02/2028 •  | 500 | 529 |
| **BGC Group, Inc.** <br>6.150% due 04/02/2030 | 500 | 518 |
| **Blackstone Holdings Finance Co. LLC**  |  |  |
| 1.625% due 08/05/2028  | 7200 | 6774 |
| 2.500% due 01/10/2030  | 1200 | 1123 |
| **Blue Owl Finance LLC**  |  |  |
| 3.125% due 06/10/2031  | 100 | 91 |
| 4.125% due 10/07/2051  | 2300 | 1620 |
| 6.250% due 04/18/2034  | 400 | 413 |
| **BNP Paribas SA**  |  |  |
| 5.786% due 01/13/2033 •  | 6200 | 6514 |
| 7.375% due 09/10/2034 •(e)(f)  | 8500 | 8903 |
| **BPCE SA**  |  |  |
| 5.716% due 01/18/2030 •  | 1000 | 1036 |
| 5.876% due 01/14/2031 •  | 3250 | 3398 |
| 5.936% due 05/30/2035 •  | 2491 | 2599 |
| 5.975% due 01/18/2027 •  | 4919 | 4922 |
| 6.714% due 10/19/2029 •  | 400 | 425 |
| **Broadstone Net Lease LLC** <br>5.000% due 11/01/2032 | 600 | 602 |
| **Brookfield Capital Finance LLC** <br>6.087% due 06/14/2033 | 6000 | 6429 |
| **Brookfield Finance, Inc.**  |  |  |
| 5.675% due 01/15/2035  | 1000 | 1036 |
| 5.968% due 03/04/2054  | 450 | 455 |
| **Brown & Brown, Inc.** <br>5.550% due 06/23/2035 | 2300 | 2360 |
| **Cantor Fitzgerald LP** <br>7.200% due 12/12/2028 | 2800 | 2978 |
| **Capital One Financial Corp.**  |  |  |
| 5.700% due 02/01/2030 •  | 200 | 208 |
| 6.312% due 06/08/2029 •  | 2500 | 2624 |
| **CBRE Services, Inc.**  |  |  |
| 5.500% due 04/01/2029  | 400 | 415 |
| 5.500% due 06/15/2035  | 400 | 413 |
| **Charles Schwab Corp.** <br>6.196% due 11/17/2029 •  | 175 | 185 |
| **CI Financial Corp.**  |  |  |
| 3.200% due 12/17/2030  | 1127 | 1022 |
| 4.100% due 06/15/2051  | 1000 | 686 |
| 7.500% due 05/30/2029  | 800 | 851 |
| **Citadel Finance LLC** <br>5.900% due 02/10/2030 | 720 | 735 |
| **Citadel Securities Global Holdings LLC**  |  |  |
| 5.500% due 06/18/2030  | 1500 | 1540 |
| 6.200% due 06/18/2035  | 3800 | 4004 |
| **Citibank NA** <br>5.488% due 12/04/2026 | 6000 | 6080 |
| **CNA Financial Corp.** <br>5.500% due 06/15/2033 | 5600 | 5817 |
| **Constellation Global Funding** <br>4.850% due 10/22/2030 | 700 | 695 |
| **Cooperatieve Rabobank UA**  |  |  |
| 3.649% due 04/06/2028 •  | 800 | 796 |
| 5.447% due 03/05/2030 •  | 7971 | 8239 |
| **COPT Defense Properties LP** <br>4.500% due 10/15/2030 | 600 | 598 |
| **Corebridge Global Funding** <br>4.900% due 01/07/2028 | 2500 | 2543 |

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<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CoStar Group, Inc.** <br>2.800% due 07/15/2030 | 3000 | 2751 |
| **Cousins Properties LP** <br>5.250% due 07/15/2030 | 200 | 205 |
| **Credit Agricole SA**  |  |  |
| 5.222% due 05/27/2031 •  | 3150 | 3235 |
| 6.316% due 10/03/2029 •  | 700 | 738 |
| **Crown Castle, Inc.**  |  |  |
| 3.100% due 11/15/2029  | 4000 | 3813 |
| 4.900% due 09/01/2029  | 800 | 814 |
| **Deutsche Bank AG**  |  |  |
| 3.547% due 09/18/2031 •  | 1600 | 1528 |
| 4.999% due 09/11/2030 •  | 1300 | 1320 |
| 5.706% due 02/08/2028 •  | 3500 | 3556 |
| 6.720% due 01/18/2029 •  | 6807 | 7128 |
| 7.146% due 07/13/2027 •  | 1729 | 1756 |
| **Digital Realty Trust LP** <br>5.550% due 01/15/2028 | 500 | 514 |
| **DNB Bank ASA** <br>1.535% due 05/25/2027 •  | 600 | 594 |
| **Doctors Co. An Interinsurance Exchange** <br>4.500% due 01/18/2032 | 5200 | 4680 |
| **EPR Properties**  |  |  |
| 3.750% due 08/15/2029  | 2500 | 2426 |
| 4.500% due 06/01/2027  | 1200 | 1202 |
| 4.750% due 12/15/2026  | 8200 | 8226 |
| 4.950% due 04/15/2028  | 4700 | 4738 |
| **Equinix Europe 2 Financing Corp. LLC**  |  |  |
| 4.600% due 11/15/2030  | 1050 | 1053 |
| 5.500% due 06/15/2034  | 1400 | 1450 |
| **Equinix, Inc.** <br>3.200% due 11/18/2029 | 2300 | 2209 |
| **Equitable Financial Life Global Funding**  |  |  |
| 1.800% due 03/08/2028  | 7000 | 6670 |
| 5.450% due 03/03/2028  | 200 | 205 |
| **Essex Portfolio LP** <br>3.000% due 01/15/2030 | 4200 | 3995 |
| **Extra Space Storage LP**  |  |  |
| 2.350% due 03/15/2032  | 1600 | 1401 |
| 3.875% due 12/15/2027  | 2274 | 2269 |
| **F&G Global Funding**  |  |  |
| 1.750% due 06/30/2026  | 100 | 99 |
| 5.065% (SOFRRATE + 1.325%) due 09/08/2028 ~  | 1300 | 1308 |
| 5.875% due 01/16/2030  | 3300 | 3429 |
| **Fairfax Financial Holdings Ltd.**  |  |  |
| 4.625% due 04/29/2030  | 4300 | 4318 |
| 6.000% due 12/07/2033  | 3600 | 3826 |
| **Federation des Caisses Desjardins du Quebec** <br>4.526% (SOFRRATE + 0.630%) due 01/27/2027 ~ | 1600 | 1606 |
| **First American Financial Corp.** <br>2.400% due 08/15/2031 | 2268 | 1982 |
| **FMR LLC** <br>4.950% due 02/01/2033 | 1600 | 1613 |
| **Ford Motor Credit Co. LLC**  |  |  |
| 2.700% due 08/10/2026  | 400 | 396 |
| 3.815% due 11/02/2027  | 6595 | 6498 |
| 4.125% due 08/17/2027  | 5790 | 5745 |
| 4.271% due 01/09/2027  | 3330 | 3314 |
| 4.542% due 08/01/2026  | 4765 | 4760 |
| 4.950% due 05/28/2027  | 1050 | 1054 |
| 5.125% due 11/05/2026  | 6616 | 6654 |
| 5.800% due 03/05/2027  | 10315 | 10448 |
| 5.800% due 03/08/2029  | 4000 | 4088 |
| 5.850% due 05/17/2027  | 1574 | 1599 |
| 6.950% due 03/06/2026  | 1889 | 1893 |
| 6.950% due 06/10/2026  | 2950 | 2976 |
| **FS KKR Capital Corp.**  |  |  |
| 2.625% due 01/15/2027  | 100 | 97 |
| 6.125% due 01/15/2030 (i)  | 4000 | 3939 |
| **GA Global Funding Trust**  |  |  |
| 1.625% due 01/15/2026  | 1056 | 1055 |
| 2.250% due 01/06/2027  | 300 | 295 |
| 4.500% due 09/18/2030  | 3000 | 2970 |
| 5.500% due 01/08/2029  | 3000 | 3085 |
| **Global Atlantic Fin Co.** <br>4.400% due 10/15/2029 | 200 | 197 |
| **GLP Capital LP/GLP Financing II, Inc.**  |  |  |
| 3.250% due 01/15/2032  | 1200 | 1089 |
| 4.000% due 01/15/2030  | 4270 | 4164 |
| 4.000% due 01/15/2031  | 6200 | 5960 |
| 5.300% due 01/15/2029  | 4560 | 4642 |
| 5.750% due 06/01/2028  | 1400 | 1442 |
| 6.750% due 12/01/2033  | 1300 | 1419 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 1.948% due 10/21/2027 •  | 200 | 197 |
| 3.615% due 03/15/2028 •  | 9062 | 9014 |

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<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 3.691% due 06/05/2028 •  | 500 | 497 |
| 4.223% due 05/01/2029 •  | 460 | 461 |
| 4.692% due 10/23/2030 •  | 500 | 507 |
| 5.573% (SOFRRATE + 1.850%) due 03/15/2028 ~  | 600 | 609 |
| 6.484% due 10/24/2029 •  | 14937 | 15847 |
| **Goodman U.S. Finance Four LLC** <br>4.500% due 10/15/2037 | 2125 | 1987 |
| **Goodman U.S. Finance Three LLC** <br>3.700% due 03/15/2028 | 15600 | 15454 |
| **HA Sustainable Infrastructure Capital, Inc.**  |  |  |
| 6.150% due 01/15/2031  | 3600 | 3703 |
| 6.375% due 07/01/2034  | 500 | 510 |
| **Hanover Insurance Group, Inc.** <br>2.500% due 09/01/2030 | 1500 | 1366 |
| **HAT Holdings I LLC/HAT Holdings II LLC** <br>3.750% due 09/15/2030 | 3100 | 2874 |
| **Highwoods Realty LP**  |  |  |
| 2.600% due 02/01/2031  | 1000 | 898 |
| 3.050% due 02/15/2030  | 3500 | 3264 |
| **Host Hotels & Resorts LP**  |  |  |
| 3.375% due 12/15/2029  | 3700 | 3555 |
| 3.500% due 09/15/2030  | 1700 | 1622 |
| **HPS Corporate Lending Fund** <br>5.950% due 04/14/2032 | 1200 | 1218 |
| **HSBC Holdings PLC** <br>5.546% due 03/04/2030 •(i) | 12000 | 12444 |
| **Indian Railway Finance Corp. Ltd.** <br>2.800% due 02/10/2031 | 2400 | 2215 |
| **Intesa Sanpaolo SpA**  |  |  |
| 7.200% due 11/28/2033  | 7500 | 8570 |
| 8.248% due 11/21/2033 •  | 3700 | 4371 |
| **Invitation Homes Operating Partnership LP**  |  |  |
| 2.000% due 08/15/2031  | 4421 | 3869 |
| 2.300% due 11/15/2028  | 1800 | 1712 |
| 5.500% due 08/15/2033  | 1000 | 1038 |
| **JPMorgan Chase & Co.**  |  |  |
| 2.182% due 06/01/2028 •  | 750 | 732 |
| 2.545% due 11/08/2032 •  | 7000 | 6319 |
| 2.580% due 04/22/2032 •  | 500 | 457 |
| 3.509% due 01/23/2029 •  | 200 | 198 |
| 3.960% due 01/29/2027 •  | 10700 | 10698 |
| 4.203% due 07/23/2029 •  | 600 | 602 |
| 4.323% due 04/26/2028 •  | 500 | 502 |
| 4.452% due 12/05/2029 •  | 120 | 121 |
| 4.565% due 06/14/2030 •  | 200 | 202 |
| 4.995% due 07/22/2030 •  | 5100 | 5237 |
| 5.012% due 01/23/2030 •  | 3845 | 3943 |
| 5.140% due 01/24/2031 •  | 500 | 517 |
| 5.299% due 07/24/2029 •  | 1626 | 1676 |
| 5.581% due 04/22/2030 •  | 5000 | 5218 |
| 6.070% due 10/22/2027 •  | 300 | 305 |
| 6.087% due 10/23/2029 •  | 8300 | 8745 |
| **Kilroy Realty LP**  |  |  |
| 3.050% due 02/15/2030  | 7533 | 7015 |
| 6.250% due 01/15/2036  | 400 | 414 |
| **Lazard Group LLC**  |  |  |
| 5.625% due 08/01/2035  | 400 | 410 |
| 6.000% due 03/15/2031  | 5000 | 5302 |
| **Lehman Brothers Holdings, Inc.**  |  |  |
| 0.000% due 05/27/2049 ^(a)  | 6772 | 2 |
| 7.875% due 09/17/2049 ^(a)  | 16500 | 78 |
| **Lloyds Bank PLC** <br>0.000% due 04/02/2032 þ | $1000 | 751 |
| **Lloyds Banking Group PLC**  |  |  |
| 4.375% due 03/22/2028  | 700 | 704 |
| 4.943% due 11/04/2036 •  | 4900 | 4850 |
| 5.462% due 01/05/2028 •  | 300 | 304 |
| 5.985% due 08/07/2027 •  | 2537 | 2566 |
| 8.000% due 09/27/2029 •(e)(f)(i)  | 2300 | 2490 |
| **Loews Corp.** <br>3.200% due 05/15/2030 | 1900 | 1820 |
| **LPL Holdings, Inc.** <br>5.650% due 03/15/2035 | 400 | 410 |
| **LXP Industrial Trust** <br>2.700% due 09/15/2030 | 1500 | 1378 |
| **Marex Group PLC** <br>5.829% due 05/08/2028 | 4900 | 4984 |
| **Marsh & McLennan Cos., Inc.** <br>4.650% due 03/15/2030 | 1300 | 1327 |
| **Meiji Yasuda Life Insurance Co.**  |  |  |
| 5.100% due 04/26/2048 •  | 600 | 609 |
| 6.100% due 06/11/2055 •  | 6100 | 6332 |
| **Mitsubishi UFJ Financial Group, Inc.** <br>5.574% due 01/16/2036 •  | 1000 | 1048 |
| **Mizuho Financial Group, Inc.**  |  |  |
| 2.839% due 09/13/2026  | 1346 | 1336 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 2.869% due 09/13/2030 •  | 800 | 761 |
| **Morgan Stanley**  |  |  |
| 3.772% due 01/24/2029 •  | 4522 | 4497 |
| 4.431% due 01/23/2030 •  | 2000 | 2011 |
| 4.654% due 10/18/2030 •  | 500 | 506 |
| 4.994% due 04/12/2029 •  | 3100 | 3162 |
| 5.164% due 04/20/2029 •  | 4607 | 4712 |
| 5.173% due 01/16/2030 •  | 2600 | 2671 |
| 5.230% due 01/15/2031 •  | 500 | 516 |
| 5.320% due 07/19/2035 •  | 2500 | 2574 |
| 5.449% due 07/20/2029 •  | 1822 | 1881 |
| 5.587% due 01/18/2036 •  | 2600 | 2718 |
| 5.656% due 04/18/2030 •  | 4000 | 4169 |
| 5.664% due 04/17/2036 •  | 3000 | 3151 |
| 6.296% due 10/18/2028 •  | 300 | 312 |
| 6.407% due 11/01/2029 •  | 8483 | 8993 |
| **Morgan Stanley Bank NA** <br>5.026% (SOFRRATE + 1.080%) due 01/14/2028 ~ | 400 | 403 |
| **Morgan Stanley Private Bank NA**  |  |  |
| 4.204% due 11/17/2028 •  | 300 | 301 |
| 4.466% due 07/06/2028 •  | 6550 | 6595 |
| **Mutual of Omaha Cos Global Funding**  |  |  |
| 5.000% due 04/01/2030  | 200 | 205 |
| 5.450% due 12/12/2028  | 400 | 414 |
| **National Health Investors, Inc.** <br>3.000% due 02/01/2031 | 2600 | 2364 |
| **Nationwide Building Society** <br>4.302% due 03/08/2029 •  | 8800 | 8818 |
| **Nationwide Financial Services, Inc.** <br>3.900% due 11/30/2049 | 1900 | 1442 |
| **Nationwide Mutual Insurance Co.** <br>9.375% due 08/15/2039 | 100 | 134 |
| **NatWest Group PLC**  |  |  |
| 5.076% due 01/27/2030 •  | 17600 | 17997 |
| 7.300% due 11/19/2034 •(e)(f)  | 2600 | 2760 |
| **NatWest Markets PLC** <br>4.488% (SOFRRATE + 0.760%) due 09/29/2026 ~ | 800 | 802 |
| **Neuberger Berman Group LLC/Neuberger Berman Finance Corp.** <br>4.500% due 03/15/2027 | 884 | 886 |
| **Newmark Group, Inc.** <br>7.500% due 01/12/2029 | 400 | 429 |
| **Nippon Life Insurance Co.**  |  |  |
| 2.750% due 01/21/2051 •  | 200 | 181 |
| 6.250% due 09/13/2053 •  | 2000 | 2121 |
| **NLG Global Funding** <br>5.400% due 01/23/2030 | 2700 | 2777 |
| **Nomura Holdings, Inc.**  |  |  |
| 1.653% due 07/14/2026  | 8409 | 8306 |
| 2.679% due 07/16/2030  | 3400 | 3147 |
| 3.103% due 01/16/2030  | 1900 | 1807 |
| **Norinchukin Bank** <br>4.674% due 09/09/2030 | 300 | 302 |
| **Northwestern Mutual Life Insurance Co.** <br>3.625% due 09/30/2059 | 2000 | 1394 |
| **Nuveen LLC** <br>5.550% due 01/15/2030 | 400 | 417 |
| **Omega Healthcare Investors, Inc.**  |  |  |
| 4.750% due 01/15/2028  | 1477 | 1490 |
| 5.200% due 07/01/2030  | 290 | 295 |
| **Pacific Life Global Funding II**  |  |  |
| 1.600% due 09/21/2028  | 4900 | 4595 |
| 4.366% (SOFRRATE + 0.620%) due 06/04/2026 ~  | 1700 | 1703 |
| **Pacific Life Insurance Co.** <br>9.250% due 06/15/2039 | 600 | 817 |
| **Pacific LifeCorp** <br>3.350% due 09/15/2050 | 1000 | 692 |
| **Phillips Edison Grocery Center Operating Partnership I LP** <br>5.250% due 08/15/2032 | 3500 | 3586 |
| **Piedmont Operating Partnership LP** <br>6.875% due 07/15/2029 | 1600 | 1700 |
| **Protective Life Global Funding**  |  |  |
| 1.737% due 09/21/2030  | 4800 | 4249 |
| 1.900% due 07/06/2028  | 1800 | 1708 |
| 4.772% due 12/09/2029 (i)  | 12500 | 12732 |
| **Rayonier LP** <br>2.750% due 05/17/2031 | 2973 | 2682 |
| **Rexford Industrial Realty LP** <br>2.125% due 12/01/2030 | 200 | 179 |
| **RGA Global Funding**  |  |  |
| 4.600% due 11/25/2030  | 2500 | 2503 |
| 5.500% due 01/11/2031  | 1400 | 1457 |
| 6.000% due 11/21/2028  | 4400 | 4620 |
| **Sammons Financial Group Global Funding** <br>5.050% due 01/10/2028 | 3400 | 3456 |
| **Santander Holdings USA, Inc.**  |  |  |
| 3.244% due 10/05/2026  | 8220 | 8171 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.353% due 09/06/2030 •  | 2400 | 2456 |
| **Santander U.K. Group Holdings PLC**  |  |  |
| 1.673% due 06/14/2027 •  | 800 | 791 |
| 4.858% due 09/11/2030 •  | 225 | 228 |
| 5.694% due 04/15/2031 •  | 5000 | 5216 |
| **SBA Tower Trust** <br>1.631% due 05/15/2051 | 15600 | 15265 |
| **SBL Holdings, Inc.** <br>5.900% due 09/26/2028 | 500 | 498 |
| **Sixth Street Lending Partners** <br>6.500% due 03/11/2029 | 3500 | 3631 |
| **SMBC Aviation Capital Finance DAC**  |  |  |
| 5.250% due 11/26/2035  | 3700 | 3703 |
| 5.450% due 05/03/2028  | 300 | 308 |
| **Stellantis Financial Services U.S. Corp.** <br>5.400% due 09/15/2030 | 4100 | 4166 |
| **Store Capital LLC**  |  |  |
| 2.750% due 11/18/2030  | 1000 | 912 |
| 5.400% due 04/30/2030  | 1400 | 1428 |
| **Sumitomo Mitsui Financial Group, Inc.**  |  |  |
| 0.948% due 01/12/2026  | 1300 | 1299 |
| 1.402% due 09/17/2026  | 600 | 590 |
| 2.174% due 01/14/2027  | 600 | 589 |
| 5.177% (SOFRRATE + 1.170%) due 07/09/2029 ~  | 10000 | 10114 |
| 5.419% (SOFRRATE + 1.430%) due 01/13/2026 ~  | 4800 | 4802 |
| 6.600% due 06/05/2034 •(e)(f)  | 2000 | 2070 |
| **Sumitomo Mitsui Trust Bank Ltd.**  |  |  |
| 4.350% due 09/11/2030  | 500 | 503 |
| 5.500% due 03/09/2028  | 400 | 413 |
| **Sun Communities Operating LP**  |  |  |
| 2.700% due 07/15/2031  | 100 | 91 |
| 4.200% due 04/15/2032  | 1900 | 1845 |
| **Teachers Insurance & Annuity Association of America** <br>4.270% due 05/15/2047 | 3000 | 2466 |
| **Trust Fibra Uno** <br>4.869% due 01/15/2030 (i) | 4000 | 3917 |
| **Trustage Financial Group, Inc.** <br>4.625% due 04/15/2032 | 9600 | 9280 |
| **UBS Group AG**  |  |  |
| 3.091% due 05/14/2032 •  | 1000 | 929 |
| 4.550% due 04/17/2026  | 300 | 301 |
| 4.703% due 08/05/2027 •  | 900 | 903 |
| 4.844% due 11/06/2033 •  | 200 | 200 |
| 4.875% due 02/12/2027 •(e)(f)  | 1000 | 995 |
| 5.699% due 02/08/2035 •  | 3166 | 3331 |
| 5.959% due 01/12/2034 •(i)  | 19600 | 20894 |
| 6.246% due 09/22/2029 •  | 300 | 316 |
| 6.301% due 09/22/2034 •  | 6100 | 6662 |
| 6.850% due 09/10/2029 •(e)(f)  | 1000 | 1027 |
| 9.250% due 11/13/2028 •(e)(f)  | 1350 | 1485 |
| 9.250% due 11/13/2033 •(e)(f)  | 4000 | 4693 |
| **UniCredit SpA** <br>5.459% due 06/30/2035 •  | 4600 | 4692 |
| **VICI Properties LP**  |  |  |
| 4.750% due 02/15/2028  | 2300 | 2323 |
| 5.125% due 11/15/2031  | 500 | 507 |
| 5.125% due 05/15/2032  | 1600 | 1612 |
| 5.625% due 04/01/2035  | 1100 | 1124 |
| 5.625% due 05/15/2052  | 1600 | 1497 |
| 5.750% due 04/01/2034  | 500 | 516 |
| **VICI Properties LP/VICI Note Co., Inc.**  |  |  |
| 3.875% due 02/15/2029  | 7600 | 7463 |
| 4.125% due 08/15/2030  | 500 | 485 |
| **Wells Fargo & Co.**  |  |  |
| 2.393% due 06/02/2028 •  | 259 | 253 |
| 2.879% due 10/30/2030 •  | 1000 | 952 |
| 3.196% due 06/17/2027 •  | 500 | 498 |
| 4.808% due 07/25/2028 •  | 1105 | 1117 |
| 5.198% due 01/23/2030 •  | 1500 | 1545 |
| 5.211% due 12/03/2035 •  | 3100 | 3168 |
| 5.389% due 04/24/2034 •  | 1500 | 1561 |
| 5.574% due 07/25/2029 •  | 7276 | 7540 |
| 6.303% due 10/23/2029 •  | 5900 | 6236 |
| **Wells Fargo Bank NA** <br>5.450% due 08/07/2026 | 300 | 303 |
| **Welltower OP LLC** <br>4.500% due 07/01/2030 | 4100 | 4148 |
| **Western-Southern Global Funding** <br>4.500% due 07/16/2028 | 500 | 504 |
| **Weyerhaeuser Co.**  |  |  |
| 4.000% due 04/15/2030  | 12000 | 11849 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.750% due 05/15/2026  | 1233 | 1236 |
|  |  | 1024227 |
| **INDUSTRIALS 30.3%**  |  |  |
| **180 Medical, Inc.** <br>5.300% due 10/08/2035 | 1300 | 1299 |
| **Adani Transmission Step-One Ltd.** <br>4.000% due 08/03/2026 | 1600 | 1589 |
| **Air Canada Pass-Through Trust**  |  |  |
| 3.300% due 07/15/2031  | 3721 | 3563 |
| 3.750% due 06/15/2029  | 54 | 53 |
| **Alaska Airlines Pass-Through Trust** <br>4.800% due 02/15/2029 | 4287 | 4315 |
| **Alcon Finance Corp.** <br>2.600% due 05/27/2030 | 7700 | 7168 |
| **Allegion PLC** <br>3.500% due 10/01/2029 | 2000 | 1953 |
| **American Airlines Pass-Through Trust**  |  |  |
| 2.875% due 01/11/2036  | 84 | 77 |
| 3.000% due 04/15/2030  | 3727 | 3606 |
| 3.150% due 08/15/2033  | 3951 | 3742 |
| 3.200% due 12/15/2029  | 1561 | 1527 |
| 3.350% due 04/15/2031  | 5466 | 5312 |
| 3.375% due 11/01/2028  | 569 | 562 |
| 3.575% due 07/15/2029  | 2517 | 2492 |
| 3.600% due 03/22/2029  | 4173 | 4135 |
| 3.700% due 04/01/2028  | 329 | 328 |
| **Amgen, Inc.**  |  |  |
| 5.250% due 03/02/2030  | 6400 | 6646 |
| 5.600% due 03/02/2043  | 1900 | 1912 |
| 5.650% due 03/02/2053 (i)  | 6500 | 6369 |
| **Amrize Finance U.S. LLC** <br>5.400% due 04/07/2035 | 1000 | 1032 |
| **Anglo American Capital PLC** <br>5.625% due 04/01/2030 | 1250 | 1307 |
| **AppLovin Corp.** <br>5.125% due 12/01/2029 | 2656 | 2725 |
| **AutoZone, Inc.** <br>5.125% due 06/15/2030 | 2000 | 2064 |
| **Bayer U.S. Finance II LLC** <br>4.375% due 12/15/2028 | 4100 | 4105 |
| **Bayer U.S. Finance LLC**  |  |  |
| 6.125% due 11/21/2026  | 11100 | 11263 |
| 6.250% due 01/21/2029  | 400 | 421 |
| 6.375% due 11/21/2030  | 2367 | 2532 |
| 6.500% due 11/21/2033  | 20000 | 21659 |
| **Becton Dickinson & Co.** <br>4.874% due 02/08/2029 | 1200 | 1225 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 39436 | 41700 |
| **Berry Global, Inc.**  |  |  |
| 4.875% due 07/15/2026  | 6700 | 6701 |
| 5.650% due 01/15/2034  | 200 | 209 |
| **Block, Inc.** <br>5.625% due 08/15/2030 | 3200 | 3267 |
| **BMW U.S. Capital LLC**  |  |  |
| 4.750% due 03/21/2028  | 2900 | 2943 |
| 5.050% due 03/21/2030  | 500 | 513 |
| **Boeing Co.**  |  |  |
| 2.196% due 02/04/2026  | 24700 | 24654 |
| 3.250% due 02/01/2028  | 1200 | 1181 |
| 3.450% due 11/01/2028  | 400 | 392 |
| 5.805% due 05/01/2050  | 4600 | 4531 |
| 5.930% due 05/01/2060  | 13200 | 12961 |
| 6.259% due 05/01/2027  | 5800 | 5953 |
| **Booz Allen Hamilton, Inc.** <br>3.875% due 09/01/2028 | 5700 | 5597 |
| **Boston Scientific Corp.** <br>6.250% due 11/15/2035 | 3000 | 3369 |
| **British Airways Pass-Through Trust**  |  |  |
| 2.900% due 09/15/2036  | 80 | 73 |
| 3.300% due 06/15/2034  | 72 | 68 |
| 3.350% due 12/15/2030  | 2194 | 2136 |
| 3.800% due 03/20/2033  | 995 | 978 |
| 4.125% due 03/20/2033  | 1246 | 1210 |
| **Broadcom, Inc.**  |  |  |
| 2.450% due 02/15/2031  | 27858 | 25494 |
| 3.419% due 04/15/2033  | 6543 | 6059 |
| 4.926% due 05/15/2037  | 12249 | 12095 |
| 5.050% due 07/12/2029  | 500 | 515 |
| **Cameron LNG LLC** <br>3.402% due 01/15/2038 | 100 | 87 |
| **Canadian Natural Resources Ltd.**  |  |  |
| 5.000% due 12/15/2029  | 1200 | 1231 |
| 5.400% due 12/15/2034  | 1800 | 1833 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.250% due 03/15/2038  | 1700 | 1808 |
| **Canadian Pacific Railway Co.** <br>2.450% due 12/02/2031 | 6000 | 5400 |
| **Carnival Corp.** <br>4.000% due 08/01/2028 | 4845 | 4776 |
| **CDW LLC/CDW Finance Corp.**  |  |  |
| 2.670% due 12/01/2026  | 2100 | 2073 |
| 3.250% due 02/15/2029  | 1010 | 973 |
| 5.100% due 03/01/2030  | 300 | 306 |
| **Cenovus Energy, Inc.** <br>5.400% due 03/20/2036 | 5900 | 5895 |
| **Centene Corp.**  |  |  |
| 2.450% due 07/15/2028  | 3300 | 3093 |
| 2.500% due 03/01/2031  | 2000 | 1728 |
| 2.625% due 08/01/2031  | 1600 | 1377 |
| 3.000% due 10/15/2030  | 3625 | 3246 |
| 4.625% due 12/15/2029  | 2491 | 2418 |
| **CGI, Inc.** <br>1.450% due 09/14/2026 | 9500 | 9336 |
| **Charter Communications Operating LLC/Charter Communications Operating Capital**  |  |  |
| 3.500% due 03/01/2042  | 6985 | 4855 |
| 3.900% due 06/01/2052  | 6000 | 3878 |
| 6.100% due 06/01/2029  | 1000 | 1044 |
| **Cheniere Corpus Christi Holdings LLC** <br>2.742% due 12/31/2039 | 500 | 428 |
| **Cheniere Energy, Inc.** <br>5.650% due 04/15/2034 | 500 | 519 |
| **Cigna Group**  |  |  |
| 2.400% due 03/15/2030  | 1391 | 1292 |
| 5.000% due 05/15/2029  | 500 | 514 |
| **CommonSpirit Health**  |  |  |
| 4.352% due 09/01/2030  | 1100 | 1096 |
| 4.975% due 09/01/2035  | 400 | 395 |
| **Conagra Brands, Inc.** <br>5.000% due 08/01/2030 | 1600 | 1620 |
| **Constellation Brands, Inc.** <br>2.250% due 08/01/2031 | 100 | 89 |
| **Constellation Pharmaceutical, Inc.** <br>5.550% due 07/01/2033 «(h) | 1056 | 1097 |
| **Cox Communications, Inc.** <br>1.800% due 10/01/2030 | 4400 | 3857 |
| **CVS Health Corp.**  |  |  |
| 3.750% due 04/01/2030  | 1800 | 1758 |
| 4.300% due 03/25/2028  | 1235 | 1239 |
| 4.780% due 03/25/2038  | 1100 | 1039 |
| 5.000% due 01/30/2029  | 300 | 306 |
| 5.050% due 03/25/2048  | 3800 | 3352 |
| 5.125% due 02/21/2030  | 3335 | 3427 |
| 5.450% due 09/15/2035  | 2700 | 2765 |
| 5.700% due 06/01/2034  | 1000 | 1048 |
| 5.875% due 06/01/2053  | 1100 | 1069 |
| 6.050% due 06/01/2054  | 1000 | 995 |
| **CVS Pass-Through Trust** <br>7.507% due 01/10/2032 | 958 | 1017 |
| **DAE Funding LLC** <br>3.375% due 03/20/2028 | 400 | 390 |
| **Daimler Truck Finance North America LLC** <br>5.000% due 01/15/2027 | 400 | 404 |
| **DCP Midstream Operating LP**  |  |  |
| 3.250% due 02/15/2032  | 2600 | 2392 |
| 5.125% due 05/15/2029  | 200 | 205 |
| **Delta Air Lines, Inc.** <br>3.750% due 10/28/2029 | 1000 | 979 |
| **Devon Energy Corp.** <br>5.200% due 09/15/2034 | 400 | 398 |
| **Diamondback Energy, Inc.**  |  |  |
| 5.550% due 04/01/2035  | 400 | 411 |
| 5.900% due 04/18/2064  | 400 | 378 |
| 6.250% due 03/15/2053  | 2600 | 2636 |
| **DT Midstream, Inc.** <br>4.125% due 06/15/2029 | 1102 | 1088 |
| **Ecopetrol SA** <br>4.625% due 11/02/2031 | 100 | 90 |
| **Edwards Lifesciences Corp.** <br>4.300% due 06/15/2028 | 970 | 977 |
| **Embraer Netherlands Finance BV** <br>5.980% due 02/11/2035 | 105 | 112 |
| **Enbridge, Inc.**  |  |  |
| 4.900% due 06/20/2030  | 500 | 511 |
| 5.550% due 06/20/2035  | 200 | 207 |
| 5.900% due 11/15/2026  | 100 | 101 |
| **Energy Transfer LP**  |  |  |
| 3.900% due 07/15/2026  | 900 | 899 |
| 4.950% due 05/15/2028  | 900 | 915 |
| 5.200% due 04/01/2030  | 4330 | 4463 |
| 5.250% due 07/01/2029  | 1200 | 1236 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.550% due 02/15/2028  | 1053 | 1081 |
| 5.700% due 04/01/2035  | 400 | 414 |
| 6.050% due 12/01/2026  | 5400 | 5488 |
| 6.100% due 12/01/2028  | 200 | 210 |
| **Eni SpA** <br>5.500% due 05/15/2034 | 4500 | 4640 |
| **Enterprise Products Operating LLC**  |  |  |
| 4.600% due 01/15/2031  | 4000 | 4050 |
| 5.200% due 01/15/2036  | 4100 | 4176 |
| **EQT Corp.**  |  |  |
| 3.900% due 10/01/2027  | 466 | 464 |
| 6.375% due 04/01/2029  | 477 | 494 |
| **Equifax, Inc.** <br>5.100% due 06/01/2028 | 2500 | 2555 |
| **Expand Energy Corp.**  |  |  |
| 5.375% due 03/15/2030  | 1200 | 1217 |
| 5.700% due 01/15/2035  | 400 | 414 |
| 6.750% due 04/15/2029  | 2242 | 2255 |
| **Ferguson Finance PLC** <br>3.250% due 06/02/2030 | 1100 | 1051 |
| **Fiserv, Inc.**  |  |  |
| 5.150% due 08/12/2034  | 400 | 397 |
| 5.250% due 08/11/2035  | 6000 | 5989 |
| **Flex Intermediate Holdco LLC** <br>3.363% due 06/30/2031 | 9700 | 8941 |
| **Flex Ltd.** <br>4.875% due 06/15/2029 | 100 | 102 |
| **Fox Corp.** <br>4.709% due 01/25/2029 | 2300 | 2330 |
| **Fresenius Medical Care U.S. Finance III, Inc.** <br>1.875% due 12/01/2026 | 800 | 782 |
| **Gartner, Inc.**  |  |  |
| 3.750% due 10/01/2030  | 2200 | 2087 |
| 4.950% due 03/20/2031  | 1600 | 1611 |
| **GE HealthCare Technologies, Inc.** <br>4.150% due 12/15/2028 | 3000 | 3009 |
| **Glencore Funding LLC** <br>5.186% due 04/01/2030 | 2400 | 2469 |
| **Harbour Energy PLC** <br>6.327% due 04/01/2035 | 4500 | 4559 |
| **HCA, Inc.**  |  |  |
| 3.500% due 09/01/2030  | 16400 | 15777 |
| 5.450% due 04/01/2031  | 400 | 418 |
| 5.500% due 06/01/2033  | 6800 | 7080 |
| 5.625% due 09/01/2028  | 1734 | 1788 |
| 5.875% due 02/01/2029  | 200 | 208 |
| **Hyatt Hotels Corp.**  |  |  |
| 5.050% due 03/30/2028  | 900 | 917 |
| 5.750% due 04/23/2030  | 2192 | 2293 |
| **Hyundai Capital America** <br>1.500% due 06/15/2026 | 2000 | 1977 |
| **Imperial Brands Finance PLC** <br>3.500% due 07/26/2026 | 200 | 199 |
| **IQVIA, Inc.** <br>6.250% due 02/01/2029 | 700 | 738 |
| **JetBlue Pass-Through Trust** <br>2.750% due 11/15/2033 | 1871 | 1683 |
| **Keurig Dr. Pepper, Inc.** <br>5.050% due 03/15/2029 | 1000 | 1021 |
| **Kinder Morgan, Inc.** <br>8.050% due 10/15/2030 | 6500 | 7514 |
| **Kraft Heinz Foods Co.** <br>5.400% due 03/15/2035 | 5321 | 5469 |
| **Las Vegas Sands Corp.**  |  |  |
| 3.500% due 08/18/2026  | 4250 | 4233 |
| 3.900% due 08/08/2029  | 5300 | 5178 |
| 5.625% due 06/15/2028  | 1300 | 1333 |
| 5.900% due 06/01/2027  | 8800 | 8980 |
| **Marriott International, Inc.**  |  |  |
| 4.500% due 10/15/2031  | 500 | 501 |
| 4.625% due 06/15/2030  | 2000 | 2031 |
| **Mars, Inc.** <br>5.000% due 03/01/2032 | 4500 | 4640 |
| **Microchip Technology, Inc.** <br>4.900% due 03/15/2028 | 900 | 913 |
| **Micron Technology, Inc.**  |  |  |
| 4.663% due 02/15/2030  | 1100 | 1113 |
| 5.327% due 02/06/2029  | 1500 | 1547 |
| **MPLX LP** <br>2.650% due 08/15/2030 | 2450 | 2271 |
| **National Football League**  |  |  |
| 5.250% due 10/05/2034 «(h)  | 3700 | 3773 |
| 5.420% due 10/05/2037 «(h)  | 1300 | 1314 |
| **National Fuel Gas Co.** <br>5.500% due 10/01/2026 | 300 | 303 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Nissan Motor Co. Ltd.** <br>4.345% due 09/17/2027 | 750 | 740 |
| **Norfolk Southern Corp.** <br>4.100% due 05/15/2121 | 100 | 70 |
| **Northern Star Resources Ltd.** <br>6.125% due 04/11/2033 | 1000 | 1062 |
| **NTT Finance Corp.** <br>5.171% due 07/16/2032 | 3300 | 3388 |
| **NVR, Inc.** <br>3.000% due 05/15/2030 | 2760 | 2614 |
| **NXP BV/NXP Funding LLC** <br>5.550% due 12/01/2028 | 600 | 622 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.** <br>4.300% due 08/19/2028 | 402 | 404 |
| **Occidental Petroleum Corp.**  |  |  |
| 5.200% due 08/01/2029  | 2300 | 2359 |
| 6.450% due 09/15/2036  | 2500 | 2666 |
| 6.625% due 09/01/2030  | 1150 | 1239 |
| **Open Text Corp.** <br>6.900% due 12/01/2027 | 500 | 521 |
| **Oracle Corp.**  |  |  |
| 2.300% due 03/25/2028  | 5029 | 4797 |
| 3.250% due 11/15/2027  | 2800 | 2741 |
| 3.250% due 05/15/2030  | 1765 | 1645 |
| 3.950% due 03/25/2051  | 2000 | 1317 |
| 4.200% due 09/27/2029  | 3200 | 3140 |
| 4.650% due 05/06/2030  | 2917 | 2892 |
| 5.500% due 08/03/2035  | 400 | 392 |
| 6.000% due 08/03/2055  | 2000 | 1765 |
| 6.100% due 09/26/2065  | 6100 | 5384 |
| **Petroleos Mexicanos** <br>6.700% due 02/16/2032 | 3700 | 3692 |
| **Philip Morris International, Inc.**  |  |  |
| 1.750% due 11/01/2030  | 2100 | 1872 |
| 4.375% due 04/30/2030  | 2425 | 2441 |
| 4.875% due 02/13/2029  | 3500 | 3584 |
| 5.125% due 11/17/2027  | 300 | 307 |
| 5.125% due 02/15/2030  | 1700 | 1758 |
| 5.250% due 02/13/2034  | 400 | 414 |
| **Quanta Services, Inc.** <br>4.300% due 08/09/2028 | 500 | 503 |
| **RELX Capital, Inc.**  |  |  |
| 4.750% due 03/27/2030  | 923 | 942 |
| 4.750% due 05/20/2032  | 800 | 813 |
| **Renesas Electronics Corp.** <br>2.170% due 11/25/2026 | 900 | 884 |
| **Rolls-Royce PLC** <br>5.750% due 10/15/2027 | 550 | 564 |
| **Royal Caribbean Cruises Ltd.**  |  |  |
| 5.375% due 01/15/2036  | 3300 | 3315 |
| 5.500% due 04/01/2028  | 3025 | 3081 |
| **Royalty Pharma PLC**  |  |  |
| 1.750% due 09/02/2027  | 1000 | 964 |
| 4.450% due 03/25/2031  | 1700 | 1696 |
| **Sabine Pass Liquefaction LLC**  |  |  |
| 4.500% due 05/15/2030  | 12900 | 12957 |
| 5.875% due 06/30/2026  | 1067 | 1069 |
| **Santos Finance Ltd.**  |  |  |
| 3.649% due 04/29/2031  | 11430 | 10718 |
| 4.125% due 09/14/2027  | 2200 | 2189 |
| 6.875% due 09/19/2033  | 400 | 438 |
| **Schlumberger Holdings Corp.** <br>5.000% due 06/01/2034 | 200 | 202 |
| **Skyworks Solutions, Inc.** <br>1.800% due 06/01/2026 | 2400 | 2374 |
| **South Bow USA Infrastructure Holdings LLC** <br>5.026% due 10/01/2029 | 900 | 913 |
| **Southern Co.** <br>5.500% due 03/15/2029 | 200 | 208 |
| **Spectra Energy Partners LP** <br>3.375% due 10/15/2026 | 3500 | 3485 |
| **Spirit AeroSystems, Inc.** <br>3.850% due 06/15/2026 | 200 | 199 |
| **Spirit Airlines Pass-Through Trust**  |  |  |
| 3.650% due 08/15/2031  | 2341 | 2156 |
| 4.100% due 10/01/2029  | 93 | 90 |
| **Stryker Corp.**  |  |  |
| 4.250% due 09/11/2029  | 2500 | 2514 |
| 4.850% due 02/10/2030  | 2900 | 2979 |
| **Synopsys, Inc.** <br>5.150% due 04/01/2035 | 3300 | 3355 |
| **Sysco Corp.** <br>5.100% due 09/23/2030 | 2600 | 2686 |
| **T-Mobile USA, Inc.**  |  |  |
| 2.050% due 02/15/2028  | 100 | 96 |
| 2.250% due 11/15/2031  | 10000 | 8862 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 2.400% due 03/15/2029  | 2889 | 2737 |
| 2.700% due 03/15/2032  | 7900 | 7105 |
| 3.875% due 04/15/2030  | 14000 | 13770 |
| 4.800% due 07/15/2028  | 200 | 204 |
| 4.950% due 03/15/2028  | 3034 | 3092 |
| **Tapestry, Inc.** <br>5.100% due 03/11/2030 | 2700 | 2776 |
| **Targa Resources Corp.** <br>6.125% due 03/15/2033 | 6400 | 6855 |
| **TD SYNNEX Corp.** <br>2.375% due 08/09/2028 | 100 | 95 |
| **Tennessee Gas Pipeline Co. LLC** <br>2.900% due 03/01/2030 | 5000 | 4720 |
| **Textron, Inc.** <br>3.375% due 03/01/2028 | 1500 | 1476 |
| **TR Finance LLC** <br>5.500% due 08/15/2035 | 1000 | 1042 |
| **Tyson Foods, Inc.** <br>4.350% due 03/01/2029 | 1700 | 1707 |
| **United Airlines Pass-Through Trust**  |  |  |
| 2.700% due 11/01/2033  | 2898 | 2667 |
| 2.875% due 04/07/2030  | 542 | 523 |
| 2.900% due 11/01/2029  | 2477 | 2375 |
| 3.500% due 09/01/2031  | 1221 | 1182 |
| 4.000% due 10/11/2027  | 515 | 515 |
| 4.150% due 02/25/2033  | 1205 | 1186 |
| 5.450% due 08/15/2038  | 1545 | 1594 |
| 5.800% due 07/15/2037  | 6531 | 6845 |
| 5.875% due 04/15/2029  | 7005 | 7188 |
| **United Rentals North America, Inc.**  |  |  |
| 3.875% due 11/15/2027  | 1700 | 1690 |
| 6.000% due 12/15/2029  | 500 | 514 |
| **Viper Energy Partners LLC** <br>4.900% due 08/01/2030 | 1500 | 1518 |
| **Volkswagen Group of America Finance LLC**  |  |  |
| 4.450% due 09/11/2027  | 300 | 301 |
| 5.050% due 03/27/2028  | 1500 | 1524 |
| 5.250% due 03/22/2029  | 7065 | 7225 |
| 5.350% due 03/27/2030  | 500 | 514 |
| 5.650% due 09/12/2028  | 700 | 722 |
| **Western Midstream Operating LP** <br>5.500% due 12/15/2035 | 6000 | 5970 |
| **Westinghouse Air Brake Technologies Corp.** <br>4.700% due 09/15/2028 | 7503 | 7599 |
| **Williams Cos., Inc.**  |  |  |
| 4.625% due 06/30/2030  | 1830 | 1849 |
| 4.900% due 03/15/2029  | 909 | 929 |
| 5.300% due 09/30/2035  | 3000 | 3053 |
| **WMG Acquisition Corp.** <br>3.750% due 12/01/2029 | 3800 | 3661 |
| **Woodside Finance Ltd.**  |  |  |
| 3.700% due 09/15/2026  | 2500 | 2491 |
| 5.100% due 09/12/2034  | 5300 | 5239 |
| **Yara International ASA** <br>3.800% due 06/06/2026 | 3300 | 3291 |
|  |  | 758470 |
| **UTILITIES 8.5%**  |  |  |
| **AES Corp.**  |  |  |
| 3.950% due 07/15/2030  | 3200 | 3128 |
| 5.450% due 06/01/2028  | 12400 | 12692 |
| **American Electric Power Co., Inc.**  |  |  |
| 5.750% due 11/01/2027  | 200 | 206 |
| 5.800% due 03/15/2056 •  | 2700 | 2682 |
| **AT&T, Inc.** <br>4.700% due 08/15/2030 | 400 | 407 |
| **Black Hills Corp.**  |  |  |
| 2.500% due 06/15/2030  | 2200 | 2042 |
| 3.950% due 01/15/2026  | 200 | 200 |
| 6.150% due 05/15/2034  | 2700 | 2898 |
| **Cleco Power LLC** <br>5.300% due 01/15/2036 | 4500 | 4547 |
| **Dominion Energy, Inc.** <br>3.300% due 04/15/2041 | 2500 | 1905 |
| **DTE Energy Co.** <br>2.950% due 03/01/2030 | 500 | 474 |
| **Duke Energy Corp.** <br>3.250% due 01/15/2082 •  | 1002 | 977 |
| **Edison International**  |  |  |
| 5.450% due 06/15/2029  | 3200 | 3260 |
| 5.750% due 06/15/2027  | 4000 | 4073 |
| 6.250% due 03/15/2030  | 350 | 366 |
| 6.950% due 11/15/2029  | 400 | 426 |
| **Electricite de France SA** <br>6.950% due 01/26/2039 | 600 | 670 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Emera U.S. Finance LP** <br>2.639% due 06/15/2031 | 1700 | 1539 |
| **Enel Finance International NV** <br>5.125% due 06/26/2029 | 3967 | 4073 |
| **Entergy Corp.**  |  |  |
| 1.900% due 06/15/2028  | 8900 | 8449 |
| 3.750% due 06/15/2050  | 2900 | 2110 |
| **Eversource Energy**  |  |  |
| 5.000% due 01/01/2027  | 400 | 404 |
| 5.450% due 03/01/2028  | 300 | 308 |
| **Fells Point Funding Trust** <br>3.046% due 01/31/2027 | 3400 | 3361 |
| **FirstEnergy Corp.**  |  |  |
| 3.900% due 07/15/2027  | 1100 | 1096 |
| 4.850% due 07/15/2047  | 1100 | 969 |
| **FirstEnergy Transmission LLC** <br>2.866% due 09/15/2028 | 6500 | 6288 |
| **FORESEA Holding SA** <br>7.500% due 06/15/2030 | 266 | 262 |
| **Gazprom PJSC via Gaz Finance PLC** <br>2.950% due 01/27/2029 | 6500 | 4713 |
| **Georgia Power Co.** <br>4.650% due 05/16/2028 | 400 | 407 |
| **IPALCO Enterprises, Inc.** <br>4.250% due 05/01/2030 | 3787 | 3706 |
| **Jersey Central Power & Light Co.** <br>4.150% due 01/15/2029 | 300 | 300 |
| **Midwest Connector Capital Co. LLC** <br>4.625% due 04/01/2029 | 1200 | 1202 |
| **National Grid PLC** <br>5.602% due 06/12/2028 | 100 | 103 |
| **New York State Electric & Gas Corp.**  |  |  |
| 3.300% due 09/15/2049  | 200 | 136 |
| 5.650% due 08/15/2028  | 800 | 833 |
| **Niagara Mohawk Power Corp.** <br>4.278% due 12/15/2028 | 5000 | 5011 |
| **Ohio Edison Co.** <br>6.875% due 07/15/2036 | 1100 | 1261 |
| **Oncor Electric Delivery Co. LLC** <br>4.300% due 05/15/2028 | 300 | 303 |
| **ONEOK, Inc.**  |  |  |
| 3.400% due 09/01/2029  | 3000 | 2908 |
| 4.250% due 09/24/2027  | 3376 | 3389 |
| 5.050% due 11/01/2034  | 10200 | 10114 |
| **Pacific Gas & Electric Co.**  |  |  |
| 3.000% due 06/15/2028  | 2800 | 2716 |
| 3.150% due 01/01/2026  | 200 | 200 |
| 3.300% due 12/01/2027  | 300 | 296 |
| 4.200% due 03/01/2029  | 3300 | 3281 |
| 4.500% due 12/15/2041  | 1269 | 1059 |
| 5.000% due 06/04/2028  | 500 | 509 |
| 6.000% due 08/15/2035  | 500 | 526 |
| 6.100% due 01/15/2029  | 400 | 419 |
| 6.150% due 03/01/2055  | 2500 | 2485 |
| 6.750% due 01/15/2053  | 4200 | 4490 |
| 6.950% due 03/15/2034  | 22500 | 25038 |
| **PacifiCorp**  |  |  |
| 4.150% due 02/15/2050  | 1700 | 1266 |
| 5.100% due 02/15/2029  | 300 | 306 |
| 5.300% due 02/15/2031  | 3000 | 3090 |
| 5.450% due 02/15/2034  | 5200 | 5277 |
| 5.800% due 01/15/2055  | 1174 | 1096 |
| 7.375% due 09/15/2055 •  | 2000 | 2040 |
| **Pinnacle West Capital Corp.** <br>5.150% due 05/15/2030 | 500 | 515 |
| **Plains All American Pipeline LP/PAA Finance Corp.** <br>3.550% due 12/15/2029 | 1440 | 1400 |
| **Public Service Co. of Oklahoma** <br>2.200% due 08/15/2031 | 244 | 217 |
| **Rio Oil Finance Trust** <br>9.750% due 01/06/2027 | 84 | 87 |
| **Sempra** <br>6.375% due 04/01/2056 •  | 1900 | 1943 |
| **Southern California Edison Co.**  |  |  |
| 1.200% due 02/01/2026  | 800 | 797 |
| 2.850% due 08/01/2029  | 2000 | 1897 |
| 3.900% due 12/01/2041  | 400 | 315 |
| 4.125% due 03/01/2048  | 100 | 76 |
| 4.200% due 03/01/2029  | 1000 | 994 |
| 4.650% due 10/01/2043  | 50 | 43 |
| 4.700% due 06/01/2027  | 4455 | 4493 |
| 4.875% due 02/01/2027  | 400 | 403 |
| 4.875% due 03/01/2049  | 4277 | 3598 |
| 5.350% due 03/01/2026  | 200 | 200 |
| 5.650% due 10/01/2028  | 1700 | 1761 |
| 5.850% due 11/01/2027  | 12405 | 12756 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.650% due 04/01/2029  | 4500 | 4717 |
| **Southern California Gas Co.** <br>3.950% due 02/15/2050 | 1500 | 1156 |
| **Spire, Inc.** <br>5.300% due 03/01/2026 | 2500 | 2504 |
| **System Energy Resources, Inc.**  |  |  |
| 5.300% due 12/15/2034  | 1800 | 1820 |
| 6.000% due 04/15/2028  | 200 | 208 |
| **Verizon Communications, Inc.**  |  |  |
| 4.016% due 12/03/2029  | 2000 | 1985 |
| 4.750% due 01/15/2033  | 3000 | 2999 |
| 5.401% due 07/02/2037  | 2094 | 2117 |
| **Vistra Operations Co. LLC** <br>6.950% due 10/15/2033 | 952 | 1064 |
| **Xcel Energy, Inc.**  |  |  |
| 3.400% due 06/01/2030  | 886 | 853 |
| 5.600% due 04/15/2035  | 4400 | 4560 |
|  |  | 213770 |
| Total Corporate Bonds & Notes (Cost $1,988,210) |  | 1996467 |
| **MUNICIPAL BONDS & NOTES 0.7%**  |  |  |
| **CALIFORNIA 0.0%**  |  |  |
| **Alameda County, California Joint Powers Authority Revenue Bonds, (BABs), Series 2010** <br>7.046% due 12/01/2044 | 100 | 113 |
| **Los Angeles County, California Public Works Financing Authority Revenue Bonds, (BABs), Series 2010** <br>7.618% due 08/01/2040 | 100 | 119 |
| **Napa Valley Unified School District, California General Obligation Bonds, (BABs), Series 2010** <br>6.507% due 08/01/2043 | 300 | 322 |
| **Riverside, California Electric Revenue Bonds, (BABs), Series 2010** <br>7.605% due 10/01/2040 | 300 | 358 |
|  |  | 912 |
| **GEORGIA 0.4%**  |  |  |
| **Municipal Electric Authority of Georgia Revenue Bonds, (BABs), Series 2010** <br>6.655% due 04/01/2057 | 8035 | 8766 |
| **ILLINOIS 0.0%**  |  |  |
| **Chicago Transit Authority, Illinois Revenue Bonds, (BABs), Series 2010** <br>6.200% due 12/01/2040 | 604 | 640 |
| **MASSACHUSETTS 0.0%**  |  |  |
| **Massachusetts School Building Authority Revenue Bonds, Series 2010** <br>5.468% due 06/15/2027 | 300 | 307 |
| **NEW YORK 0.0%**  |  |  |
| **New York State Urban Development Corp. Revenue Bonds, (BABs), Series 2009** <br>5.770% due 03/15/2039 | 235 | 242 |
| **OHIO 0.3%**  |  |  |
| **American Municipal Power, Inc., Ohio Revenue Bonds, Series 2010** <br>8.084% due 02/15/2050 | 6210 | 7817 |
| Total Municipal Bonds & Notes (Cost $21,584) |  | 18684 |
| **U.S. GOVERNMENT AGENCIES 9.4%**  |  |  |
| **Federal National Mortgage Association**  |  |  |
| 3.500% due 08/01/2047 - 08/01/2048 | 732 | 687 |
| 4.000% due 08/01/2049 | 839 | 808 |
| **Government National Mortgage Association**<br>8.500% due 08/15/2030 | 1 | 1 |
| **Government National Mortgage Association, TBA**  |  |  |
| 4.000% due 02/01/2056 | 30800 | 29089 |
| 5.000% due 01/01/2056 | 11600 | 11575 |
| 6.000% due 02/01/2056 | 4400 | 4481 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 3.000% due 02/01/2056 | 10 | 9 |
| 4.000% due 02/01/2056 | 97540 | 92471 |
| 4.500% due 01/01/2056 - 02/01/2056 | 37290 | 36398 |
| 5.000% due 02/01/2056 | 59200 | 58985 |
| Total U.S. Government Agencies (Cost $234,088) |  | 234504 |
| **U.S. TREASURY OBLIGATIONS 1.8%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 4.875% due 08/15/2045 (k) | 11308 | 11421 |
| **U.S. Treasury Notes**  |  |  |
| 4.250% due 08/15/2035 (k)(m) | 33191 | 33435 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total U.S. Treasury Obligations (Cost $45,142) |  | 44856 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 1.2%**  |  |  |
| **245 Park Avenue Trust** <br>3.508% due 06/05/2037 | 3100 | 3054 |
| **Atrium Hotel Portfolio Trust** <br>4.978% due 12/15/2036 •  | 2204 | 2177 |
| **Chase Home Lending Mortgage Trust** <br>3.250% due 09/25/2063 ~ | 3369 | 3045 |
| **CSMC Trust**  |  |  |
| 3.904% due 04/25/2062 ~  | 710 | 684 |
| 5.265% due 07/15/2038 •  | 1000 | 896 |
| **DC Office Trust** <br>2.965% due 09/15/2045 | 10500 | 9544 |
| **JP Morgan Chase Commercial Mortgage Securities Trust**  |  |  |
| 2.287% due 03/05/2042  | 2000 | 1883 |
| 4.597% due 04/15/2037 •  | 939 | 928 |
| **Mill City Mortgage Loan Trust** <br>2.750% due 08/25/2059 ~ | 133 | 130 |
| **New Residential Mortgage Loan Trust**  |  |  |
| 2.750% due 07/25/2059 ~  | 3145 | 3052 |
| 6.864% due 10/25/2063 þ  | 1312 | 1328 |
| **PRKCM Trust** <br>7.225% due 11/25/2058 þ | 584 | 591 |
| **PRPM Trust** <br>6.250% due 08/25/2068 þ | 317 | 319 |
| **Structured Asset Mortgage Investments II Trust** <br>4.546% due 03/19/2034 •  | 143 | 136 |
| **Verus Securitization Trust**  |  |  |
| 6.193% due 03/25/2068 þ  | 981 | 981 |
| 6.876% due 11/25/2068 ~  | 659 | 669 |
| 7.070% due 10/25/2068 þ  | 276 | 279 |
| **VNDO Trust** <br>3.805% due 01/10/2035 | 200 | 199 |
| Total Non-Agency Mortgage-Backed Securities (Cost $30,419) |  | 29895 |
| **ASSET-BACKED SECURITIES 0.9%**  |  |  |
| **AUTOMOBILE SEQUENTIAL 0.0%**  |  |  |
| **FHF Trust** <br>6.570% due 06/15/2028 | 506 | 509 |
| **CMBS OTHER 0.1%**  |  |  |
| **MF1 LLC** <br>5.468% due 03/19/2039 •  | 1000 | 1003 |
| **MF1 Ltd.** <br>5.081% due 02/19/2037 •  | 1948 | 1948 |
|  |  | 2951 |
| **OTHER ABS 0.8%**  |  |  |
| **37 Capital CLO 4 Ltd.** <br>4.995% due 04/15/2035 •  | 8600 | 8600 |
| **Bain Capital Credit CLO Ltd.** <br>4.960% due 10/21/2034 •  | 1700 | 1700 |
| **Dewolf Park CLO Ltd.** <br>5.086% due 10/15/2030 •  | 276 | 277 |
| **Elmwood CLO 15 Ltd.** <br>5.007% due 04/22/2035 •  | 1200 | 1200 |
| **KKR CLO 21 Ltd.** <br>5.166% due 04/15/2031 •  | 331 | 331 |
| **Magnetite XXV Ltd.** <br>5.320% due 01/25/2032 •  | 424 | 425 |
| **Ocean Trails CLO XI** <br>4.914% due 07/20/2034 •  | 3400 | 3392 |
| **Sound Point CLO XXIII** <br>5.336% due 07/15/2034 •  | 2000 | 2006 |
| **Start II Ltd.** <br>4.089% due 03/15/2044 | 301 | 300 |
| **Wellfleet CLO Ltd.** <br>5.064% due 04/20/2034 •  | 1800 | 1802 |
|  |  | 20033 |
| Total Asset-Backed Securities (Cost $23,404) |  | 23493 |
| **SOVEREIGN ISSUES 1.5%**  |  |  |
| **Eagle Funding Luxco SARL** <br>5.500% due 08/17/2030 | 5200 | 5303 |
| **Israel Government International Bonds** <br>5.375% due 03/12/2029 | 4100 | 4226 |
| **Mexico Government International Bonds**  |  |  |
| 4.750% due 03/22/2031  | 10000 | 9910 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.850% due 07/02/2032  | 1000 | 1029 |
| **Republic of South Africa Government International Bonds** <br>4.850% due 09/30/2029 | 6000 | 6011 |
| **Saudi Government International Bonds** <br>5.125% due 01/13/2028 | 9600 | 9813 |
| Total Sovereign Issues (Cost $35,828) |  | 36292 |
|  | SHARES |  |
| **COMMON STOCKS 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **Foresea Holdings SA «** | 25822 | 582 |
| **REAL ESTATE 0.0%**  |  |  |
| **MNSN Holdings, Inc. «(b)(h)** | 2033 | 102 |
| Total Common Stocks (Cost $556) |  | 684 |
| **CONVERTIBLE PREFERRED SECURITIES 0.6%**  |  |  |
| **BANKING & FINANCE 0.6%**  |  |  |
| **Wells Fargo & Co.**<br>7.500% | 13190 | 15986 |
| Total Convertible Preferred Securities (Cost $10,405) |  | 15986 |
| **PREFERRED SECURITIES 4.7%**  |  |  |
| **BANKING & FINANCE 4.6%**  |  |  |
| **AGFC Capital Trust I**<br>5.916% (US0003M + 1.750%) due 01/15/2067 | 3080000 | 2055 |
| **American Express Co.**<br>3.550% due 09/15/2026 (e) | 2000000 | 1974 |
| **Banco Santander SA**<br>8.000% due 02/01/2034 (e)(f) | 2000000 | 2214 |
| **Bank of America Corp.**<br>5.875% due 03/15/2028 (e) | 14085000 | 14237 |
| **Capital One Financial Corp.**<br>3.950% due 09/01/2026 (e) | 3250000 | 3212 |
| **Charles Schwab Corp.**<br>4.000% due 12/01/2030 (e) | 10100000 | 9441 |
| **Citigroup, Inc.**  |  |  |
| 3.875% due 02/18/2026 (e) | 12500000 | 12471 |
| 6.875% due 12/31/2099 | 3000000 | 3071 |
| 6.950% due 02/15/2030 (e) | 900000 | 927 |
| 7.200% due 05/15/2029 (e) | 2800000 | 2891 |
| **CoBank ACB**<br>4.250% due 01/01/2027 (e) | 4200000 | 4123 |
| **Depository Trust & Clearing Corp.**<br>3.375% due 06/20/2026 (e) | 2000000 | 1974 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 6.125% due 11/10/2034 (e) | 3000000 | 3057 |
| 6.850% due 02/10/2030 (e) | 4100000 | 4267 |
| 7.500% due 02/10/2029 (e) | 2500000 | 2653 |
| **JPMorgan Chase & Co.**  |  |  |
| 3.650% due 06/01/2026 (e) | 2500000 | 2487 |
| 4.200% due 09/01/2026 (e) | 250000 | 4567 |
| 4.625% due 06/01/2026 (e) | 110000 | 2160 |
| 6.406% (TSFR3M + 2.745%) due 04/01/2026 (e)(i) | 11000000 | 11024 |
| 6.500% due 04/01/2030 (e) | 4400000 | 4570 |
| 6.875% due 06/01/2029 (e) | 3300000 | 3486 |
| **USB Capital IX**<br>5.186% due 01/30/2026 (e) | 14250000 | 11108 |
| **Wells Fargo & Co.**  |  |  |
| 6.850% due 09/15/2029 (e) | 6500000 | 6799 |
| 7.625% due 09/15/2028 (e) | 1400000 | 1495 |
|  |  | 116263 |
| **INDUSTRIALS 0.1%**  |  |  |
| **SVB Financial Trust**  |  |  |
| 0.000% due 11/07/2032 (d) | 228000 | 30 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 11.000% due 11/07/2032 | 2317 | 1104 |
|  |  | 1134 |
| Total Preferred Securities (Cost $128,244) |  | 117397 |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.850% (g) | 661111 | 661 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.0%**  |  |  |
| 3.917% due 01/08/2026 - 03/10/2026 (c)(d)(m) | 923 | 921 |
| Total Short-Term Instruments (Cost $1,582) |  | 1582 |
| Total Investments in Securities (Cost $2,524,264) |  | 2524433 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 6.4%**  |  |  |
| **SHORT-TERM INSTRUMENTS 6.4%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 6.4%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 16503154 | 160757 |
| Total Short-Term Instruments (Cost $160,719) |  | 160757 |
| Total Investments in Affiliates (Cost $160,719) |  | 160757 |
| Total Investments 107.1% (Cost $2,684,983) |  | $2685190 |
| **Financial Derivative Instruments (j)(l) (0.0)**%(Cost or Premiums, net $24,105) |  | (1207) |
| Other Assets and Liabilities, net (7.1)% |  | (177604) |
| Net Assets 100.0% |  | $2506379 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 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)** | **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.** |
| **(b)** | **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.** |
| **(c)** | **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.** |
| **(d)** | **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.** |
| **(e)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **(f)** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** |
| **(g)** | **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.** |
| **(h)** | **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 |
| Constellation Pharmaceutical, Inc.5.550% due 07/01/2033 | Constellation Pharmaceutical, Inc.5.550% due 07/01/2033 | Constellation Pharmaceutical, Inc.5.550% due 07/01/2033 |  | 01/16/2025 | 01/16/2025 | $1056 | 1056 | 1056 | 1097 | 0.04 |
| MNSN Holdings, Inc. | MNSN Holdings, Inc. | MNSN Holdings, Inc. |  | 04/26/2022 | 04/26/2022 | 39 | 39 | 39 | 102 | 0.00 |
| National Football League5.250% due 10/05/2034 | National Football League5.250% due 10/05/2034 | National Football League5.250% due 10/05/2034 |  | 06/27/2025 | 06/27/2025 | 3700 | 3700 | 3700 | 3773 | 0.15 |
| National Football League5.420% due 10/05/2037 | National Football League5.420% due 10/05/2037 | National Football League5.420% due 10/05/2037 |  | 06/27/2025 | 06/27/2025 | 1300 | 1300 | 1300 | 1314 | 0.05 |
|  |  |  |  |  | $ | 6095 | 6095 | $ | 6286 | 0.24%  |
| **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 | Borrowing Rate<sup>(1)</sup> | Borrowing Rate<sup>(1)</sup> | Settlement Date | Maturity Date | Maturity Date | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| BRC | BRC | 3.000%  | 3.000%  | 12/23/2025 | 01/30/2026 | 01/30/2026 | $(2365) | (2365) | (2365) | (2367) |
|  |  | 3.650  | 3.650  | 12/12/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (17917) | (17917) | (17917) | (17955) |
| JML | JML | 3.400  | 3.400  | 12/12/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (1969) | (1969) | (1969) | (1973) |
| NOM | NOM | 2.500  | 2.500  | 12/12/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (3823) | (3823) | (3823) | (3829) |
| TDM | TDM | 3.750  | 3.750  | 12/12/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (8226) | (8226) | (8226) | (8244) |
|  |  | 3.760  | 3.760  | 12/12/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (11999) | (11999) | (11999) | (12025) |
|  |  | 3.770  | 3.770  | 12/12/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (29849) | (29849) | (29849) | (29914) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  | **(76307)** |
| **(i)** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $79,142 and cash of $45 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | The average amount of borrowings outstanding during the period ended December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. 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 December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. 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 December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. 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 December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. 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 December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. 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 December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. 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 December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. 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 December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. 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 December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. 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 December 31, 2025 was $(147667) at a weighted average interest rate of 4.479%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| <sup>(2)</sup> | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. |
| **(j)** | **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** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** |
| Description | Description | Description | Strike<br>Price | Strike<br>Price | # of<br>Contracts | Notional Amount | Notional Amount | Premiums<br>(Received) | Premiums<br>(Received) | Market<br>Value |
| Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | $111.500 | 111.500 | 143 | $143 | 143 | (24) | (24) | (22) |
| Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | 112.000 | 112.000 | 56 | 56 | 56 | (10) | (10) | (18) |
| Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | 113.500 | 113.500 | 199 | 199 | 199 | (38) | (38) | (15) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **(72)** | **(72)** | **(55)** |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **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** | **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> | <u>Variation Margin</u> |
| Description | Description | Description | Description |  | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | 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  | 03/2027 | 306 | 74121 | 74121 | $641 | 641 | 641 | 641 | 0 | 0 | 0 | (19) |
| 3-Month SOFR Active Contract June Futures  | 3-Month SOFR Active Contract June Futures  | 3-Month SOFR Active Contract June Futures  | 3-Month SOFR Active Contract June Futures  | 3-Month SOFR Active Contract June Futures  | 09/2027 | 306 | 74094 | 74094 | 593 | 593 | 593 | 593 | 0 | 0 | 0 | (19) |
| 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  | 06/2027 | 306 | 74117 | 74117 | 623 | 623 | 623 | 623 | 0 | 0 | 0 | (19) |
| 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  | 12/2027 | 306 | 74056 | 74056 | 544 | 544 | 544 | 544 | 0 | 0 | 0 | (23) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 543 | 61054 | 61054 | (275) | (275) | (275) | (275) | 0 | 0 | 0 | (111) |
| U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | 03/2026 | 1 | 116 | 116 | (1) | (1) | (1) | (1) | 0 | 0 | 0 | 0 |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 2939 | 346802 | 346802 | (7484) | (7484) | (7484) | (7484) | 0 | 0 | 0 | (1102) |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 1734 | 199437 | 199437 | (1247) | (1247) | (1247) | (1247) | 0 | 0 | 0 | (325) |
|  |  |  |  |  |  |  |  |  | (6606) | (6606) | (6606) | $ | 0 | 0 | $ | (1618) |
| **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 |  | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 142 | (29648) | (29648) | $1 | 1 | 1 | 1 | 10 | 10 | 10 | 0 |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 769 | (84055) | (84055) | 318 | 318 | 318 | 318 | 90 | 90 | 90 | 0 |
|  |  |  |  |  |  |  |  |  | 319 | 319 | 319 | $ | 100 | 100 | $ | 0 |
| **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** | **(6287)** | **(6287)** | **(6287)** | **$** | **100** | **100** | **$** | **(1618)** |
| **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> |
|  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Reference Entity | Fixed <br>(Pay) Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</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> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| Citigroup, Inc.  | (1.000)% | Quarterly | 12/20/2032 | 0.685 | 0.685 | $5000 | 204 | $ | (301) | $ | (97) | (97) | (97) | 0 | 0 | 0 |
| JPMorgan Chase & Co.  | (1.000) | Quarterly | 12/20/2032 | 0.546 | 0.546 | 7500 | 161 |  | (372) |  | (211) | (211) | (211) | 0 | 0 | 0 |
|  |  |  |  |  |  |  | $365 | 365 | (673) | (673) | $(308) | (308) | (308) | $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> |
|  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</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> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| AES Corp.  | 5.000% | Quarterly | 06/20/2026 | 0.167 | 0.167 | $5000 | 1022 | $ | (901) | $ | 121 | 121 | 121 | 1 | 1 | 0 |
| AES Corp.  | 5.000 | Quarterly | 12/20/2028 | 0.648 | 0.648 | 1000 | 124 |  | 0 |  | 124 | 124 | 124 | 0 | 0 | 0 |
| AES Corp.  | 5.000 | Quarterly | 12/20/2029 | 0.833 | 0.833 | 3000 | 540 |  | (75) |  | 465 | 465 | 465 | 1 | 1 | 0 |
| American International Group, Inc.  | 1.000 | Quarterly | 12/20/2027 | 0.197 | 0.197 | 2500 | (15) |  | 54 |  | 39 | 39 | 39 | 1 | 1 | 0 |
| AT&T, Inc.  | 1.000 | Quarterly | 06/20/2026 | 0.246 | 0.246 | 8500 | 164 |  | (131) |  | 33 | 33 | 33 | 0 | 0 | 0 |
| AT&T, Inc.  | 1.000 | Quarterly | 06/20/2028 | 0.414 | 0.414 | 16800 | (91) |  | 330 |  | 239 | 239 | 239 | 0 | 0 | (5) |
| Bank of America Corp.  | 1.000 | Quarterly | 12/20/2026 | 0.299 | 0.299 | 9600 | 115 |  | (47) |  | 68 | 68 | 68 | 1 | 1 | 0 |
| Boeing Co.  | 1.000 | Quarterly | 06/20/2026 | 0.217 | 0.217 | 800 | (6) |  | 9 |  | 3 | 3 | 3 | 0 | 0 | 0 |
| Boeing Co.  | 1.000 | Quarterly | 12/20/2026 | 0.273 | 0.273 | 17300 | (84) |  | 210 |  | 126 | 126 | 126 | 1 | 1 | 0 |
| Boeing Co.  | 1.000 | Quarterly | 12/20/2030 | 0.651 | 0.651 | 400 | 7 |  | (1) |  | 6 | 6 | 6 | 0 | 0 | 0 |
| General Electric Co.  | 1.000 | Quarterly | 06/20/2026 | 0.051 | 0.051 | 61400 | 473 |  | (181) |  | 292 | 292 | 292 | 2 | 2 | 0 |
| General Electric Co.  | 1.000 | Quarterly | 12/20/2026 | 0.064 | 0.064 | 1300 | 17 |  | (5) |  | 12 | 12 | 12 | 0 | 0 | 0 |
| General Motors Co.  | 5.000 | Quarterly | 12/20/2026 | 0.281 | 0.281 | 3710 | 701 |  | (527) |  | 174 | 174 | 174 | 1 | 1 | 0 |
| Lennar Corp.  | 5.000 | Quarterly | 12/20/2026 | 0.259 | 0.259 | 4200 | 867 |  | (669) |  | 198 | 198 | 198 | 0 | 0 | 0 |
| Morgan Stanley  | 1.000 | Quarterly | 06/20/2026 | 0.226 | 0.226 | 1700 | 7 |  | 0 |  | 7 | 7 | 7 | 0 | 0 | 0 |
| NextEra Energy Capital Holdings, Inc.  | 1.000 | Quarterly | 06/20/2026 | 0.143 | 0.143 | 2600 | 59 |  | (48) |  | 11 | 11 | 11 | 0 | 0 | 0 |
| Oracle Corp.  | 1.000 | Quarterly | 06/20/2030 | 1.367 | 1.367 | 1300 | 28 |  | (47) |  | (19) | (19) | (19) | 0 | 0 | 0 |
|  |  |  |  |  |  |  | $3928 | 3928 | (2029) | (2029) | $1899 | 1899 | 1899 | $8 | 8 | $(5) |

---

------

<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Asset |  | Liability |
| CDX.IG-44 5-Year Index  | CDX.IG-44 5-Year Index  | CDX.IG-44 5-Year Index  | CDX.IG-44 5-Year Index  | 1.000% | Quarterly | Quarterly | 06/20/2030 | 06/20/2030 | 137000 | 137000 | 2863 | 2863 | 251 | 251 | 3114 | 3114 | 3114 | 1 | $ | 0 |
| CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | 1.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 691700 | 691700 | 15399 | 15399 | 475 | 475 | 15874 | 15874 | 15874 | 10 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  | 18262 | 18262 | 726 | 726 | 18988 | 18988 | 18988 | 11 | $ | 0 |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Floating Rate Index | Fixed Rate | Fixed Rate | Payment<br>Frequency | Payment<br>Frequency | 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 | Market<br>Value | Asset | Asset | Liability |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250% | 3.250% | Annual | Annual | 06/18/2030 | $73800 | 73800 | 1423 | 1423 | $(487) | (487) | $936 | 936 | 936 | $110 | 110 | $0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 05/15/2032 | 66677 | 66677 | (70) | (70) | (595) | (595) | (665) | (665) | (665) | 120 | 120 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.994 | 3.994 | Annual | Annual | 07/02/2034 | 11010 | 11010 | (99) | (99) | (125) | (125) | (224) | (224) | (224) | 23 | 23 | 0 |
| Receive<sup>(6)</sup> | Receive<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.640 | 3.640 | Annual | Annual | 08/15/2035 | 18000 | 18000 | 36 | 36 | 148 | 148 | 184 | 184 | 184 | 41 | 41 | 0 |
| Receive<sup>(6)</sup> | Receive<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.700 | 3.700 | Annual | Annual | 08/15/2035 | 17900 | 17900 | (16) | (16) | 115 | 115 | 99 | 99 | 99 | 41 | 41 | 0 |
| Receive<sup>(6)</sup> | Receive<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.715 | 3.715 | Annual | Annual | 08/15/2035 | 30499 | 30499 | 78 | 78 | 54 | 54 | 132 | 132 | 132 | 70 | 70 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 12/17/2045 | 9200 | 9200 | 294 | 294 | 228 | 228 | 522 | 522 | 522 | 27 | 27 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | 3.500 | Annual | Annual | 06/20/2054 | 7080 | 7080 | 315 | 315 | 511 | 511 | 826 | 826 | 826 | 23 | 23 | 0 |
|  |  |  |  |  |  |  |  |  |  |  | 1961 | 1961 | (151) | (151) | 1810 | 1810 | 1810 | 455 | $ | 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** | **Total Swap Agreements** | **Total Swap Agreements** | **24516** | **24516** | **(2127)** | **(2127)** | **22389** | **22389** | **22389** | **474** | **$** | **(5)** |
| **(k)** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $2,358 and cash of $105,771 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <sup>(1)</sup> | If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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. | 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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. | 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. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. |
| **(l)** | **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** | **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** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Counterparty | Counterparty | Description | Description | Description | Description | Floating Rate<br>Index | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Premiums<br>(Received) | Premiums<br>(Received) |  | Market<br>Value |
| BPS | BPS | BPS | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | 3.551% | 3.551% | 01/05/2026 | 01/05/2026 | 3000 | 3000 | $(7) | (7) | (7) | $ | 0 |
|  |  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.831 | 3.831 | 01/05/2026 | 01/05/2026 | 3000 | 3000 | (7) | (7) | (7) |  | (2) |
|  |  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | 3.625 | 3.625 | 01/08/2026 | 01/08/2026 | 1500 | 1500 | (4) | (4) | (4) |  | 0 |
|  |  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.925 | 3.925 | 01/08/2026 | 01/08/2026 | 1500 | 1500 | (4) | (4) | (4) |  | 0 |
|  |  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | 3.622 | 3.622 | 01/29/2026 | 01/29/2026 | 3200 | 3200 | (7) | (7) | (7) |  | (4) |
|  |  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.882 | 3.882 | 01/29/2026 | 01/29/2026 | 3200 | 3200 | (7) | (7) | (7) |  | (10) |

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<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| FAR | FAR | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.580 | 3.580 | 01/05/2026 | 01/05/2026 |  | 3300 |  | (8) | (8) | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.860 | 3.860 | 01/05/2026 | 01/05/2026 |  | 3300 |  | (8) | (8) | (1) | (1) |
| GLM | GLM | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.548 | 3.548 | 01/02/2026 | 01/02/2026 |  | 2900 |  | (7) | (7) | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.848 | 3.848 | 01/02/2026 | 01/02/2026 |  | 2900 |  | (7) | (7) | 0 | 0 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.578 | 3.578 | 01/12/2026 | 01/12/2026 |  | 3000 |  | (6) | (6) | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.878 | 3.878 | 01/12/2026 | 01/12/2026 |  | 3000 |  | (6) | (6) | (3) | (3) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.648 | 3.648 | 01/15/2026 | 01/15/2026 |  | 3000 |  | (8) | (8) | (2) | (2) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.928 | 3.928 | 01/15/2026 | 01/15/2026 |  | 3000 |  | (8) | (8) | (2) | (2) |
| MYC | MYC | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.625 | 3.625 | 01/08/2026 | 01/08/2026 |  | 3200 |  | (8) | (8) | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.925 | 3.925 | 01/08/2026 | 01/08/2026 |  | 3200 |  | (8) | (8) | (1) | (1) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.639 | 3.639 | 01/12/2026 | 01/12/2026 |  | 3300 |  | (8) | (8) | (1) | (1) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.919 | 3.919 | 01/12/2026 | 01/12/2026 |  | 3300 |  | (8) | (8) | (2) | (2) |
| NGF | NGF | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.498 | 3.498 | 01/05/2026 | 01/05/2026 |  | 4000 |  | (9) | (9) | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.798 | 3.798 | 01/05/2026 | 01/05/2026 |  | 4000 |  | (9) | (9) | (6) | (6) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.639 | 3.639 | 01/12/2026 | 01/12/2026 |  | 4100 |  | (10) | (10) | (1) | (1) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.919 | 3.919 | 01/12/2026 | 01/12/2026 |  | 4100 |  | (10) | (10) | (2) | (2) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (164) | (164) | $(37) | (37) |
| **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** |
| Counterparty | Counterparty | Description | Description | Description | Description |  | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Expiration<br>Date |  |  | Notional<br>Amount<sup>(1)</sup> |  | Premiums<br>(Received) | Premiums<br>(Received) | Market<br>Value | Market<br>Value |
| GSC | GSC | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | $ | $97.375 | 97.375 | 01/07/2026 | 01/07/2026 |  | $ | 9600 | $ | (26) | (26) | $0 | 0 |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **(190)** | **(190)** | $**(37)** | **(37)** |
| **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 AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> |
| Counterparty | Reference Entity | Reference Entity | Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| JPM | Mexico Government International Bonds  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000% | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 0.221% | 0.221% | $200 | 200 | $(1) | (1) | $2 | $1 | 1 | $0 |
|  | Nissan Motor Acceptance Co. LLC  | Nissan Motor Acceptance Co. LLC  | Nissan Motor Acceptance Co. LLC  | 1.000 | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 1.785 | 1.785 | 11400 | 11400 | (145) | (145) | 63 | 0 | 0 | (82) |
| MYC | Mexico Government International Bonds  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 0.290 | 0.290 | 500 | 500 | 1 | 1 | 3 | 4 | 4 | 0 |
|  | Mexico Government International Bonds  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 0.362 | 0.362 | 1200 | 1200 | (4) | (4) | 15 | 11 | 11 | 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** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**(149)** | **(149)** | $**83** | $**16** | **16** | $**(82)** |
| **(m)** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $305 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| <sup>(2)</sup> | If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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. | 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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. | 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. |

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<br> Schedule of Investments PIMCO Investment Grade Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | |
|:---|:---|:---|:---|:---|
| **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 12/31/2025 |
| **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** |
| Loan Participations and Assignments | $0 | $0 | $4593 | $4593 |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | 0 | 1024227 | 0 | 1024227 |
| Industrials | 0 | 752286 | 6184 | 758470 |
| Utilities | 0 | 213770 | 0 | 213770 |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| California | 0 | 912 | 0 | 912 |
| Georgia | 0 | 8766 | 0 | 8766 |
| Illinois | 0 | 640 | 0 | 640 |
| Massachusetts | 0 | 307 | 0 | 307 |
| New York | 0 | 242 | 0 | 242 |
| Ohio | 0 | 7817 | 0 | 7817 |
| U.S. Government Agencies | 0 | 234504 | 0 | 234504 |
| U.S. Treasury Obligations | 0 | 44856 | 0 | 44856 |
| Non-Agency Mortgage-Backed Securities | 0 | 29895 | 0 | 29895 |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| Automobile Sequential | 0 | 509 | 0 | 509 |
| CMBS Other | 0 | 2951 | 0 | 2951 |
| Other ABS | 0 | 20033 | 0 | 20033 |
| Sovereign Issues | 0 | 36292 | 0 | 36292 |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Industrials | 0 | 0 | 582 | 582 |
| Real Estate | 0 | 0 | 102 | 102 |
| Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities |
| Banking & Finance | 15986 | 0 | 0 | 15986 |
| Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |
| Banking & Finance | 6727 | 109536 | 0 | 116263 |
| Industrials | 0 | 1134 | 0 | 1134 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | 0 | 661 | 0 | 661 |
| U.S. Treasury Bills | 0 | 921 | 0 | 921 |
|  | $22713 | $2490259 | $11461 | $2524433 |
| **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 | $160757 | $0 | $0 | $160757 |
| Total Investments | $183470 | $2490259 | $11461 | $2685190 |
| **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |
| Exchange-traded or centrally cleared | 0 | 574 | 0 | 574 |
| Over the counter | 0 | 16 | 0 | 16 |
|  | $0 | $590 | $0 | $590 |
| **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  |
| Exchange-traded or centrally cleared | 0 | (1678) | 0 | (1678) |
| Over the counter | 0 | (119) | 0 | (119) |
|  | $0 | $(1797) | $0 | $(1797) |
| Total Financial Derivative Instruments | $0 | $(1207) | $0 | $(1207) |
| Totals | $183470 | $2489052 | $11461 | $2683983 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio December 31, 2025 (Unaudited)

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| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **(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 123.4% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 0.3%**  |  |  |
| **Alfa-Bank CJSC**<br>6.330% - 8.066% due 10/21/2026 «~(k) | $5932 | $5932 |
| **Castlelake LP**<br>2.950% due 05/12/2031 «~ | 28427 | 27164 |
| **Charter Communications Operating LLC**<br>6.235% - 8.199% (TSFR3M + 2.250%) due 12/15/2031 ~ | 13986 | 14012 |
| **Dorchester LLC**<br>4.349% - 9.672% (EUR003M + 2.300%) due 01/04/2027 «~(k) | 11200 | 13162 |
| **Pantheon Senior Debt Secondaries III**<br>6.026% - 8.831% due 03/26/2026 «~(k) | $8700 | 8700 |
| **Project Alpha Investindustrial**<br>4.150% - 9.695% (EUR003M + 2.100%) due 02/27/2026 «~(k) | 5198 | 6108 |
| **Project Hudson II**<br>7.730% due 05/29/2026 «~ | $12500 | 12614 |
| Total Loan Participations and Assignments (Cost $87,981) |  | 87692 |
| **CORPORATE BONDS & NOTES 72.5%**  |  |  |
| **BANKING & FINANCE 26.8%**  |  |  |
| **ABN AMRO Bank NV** <br>6.875% due 09/22/2031 •(h)(i) | 1200 | 1543 |
| **Accident Fund Insurance Co. of America** <br>8.500% due 08/01/2032 | $103000 | 103644 |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** <br>4.625% due 10/15/2027 | 16500 | 16644 |
| **Aircastle Ltd.**  |  |  |
| 2.850% due 01/26/2028  | 11500 | 11184 |
| 6.500% due 07/18/2028  | 2088 | 2196 |
| **Aircastle Ltd./Aircastle Ireland DAC** <br>5.250% due 03/15/2030 | 1600 | 1636 |
| **Alexandria Real Estate Equities, Inc.**  |  |  |
| 4.000% due 02/01/2050  | 2300 | 1718 |
| 4.850% due 04/15/2049  | 900 | 762 |
| 5.500% due 10/01/2035  | 7100 | 7220 |
| **Alleghany Corp.** <br>4.900% due 09/15/2044 | 5400 | 4922 |
| **Ally Financial, Inc.** <br>6.992% due 06/13/2029 •  | 3400 | 3593 |
| **American Assets Trust LP**  |  |  |
| 3.375% due 02/01/2031  | 30500 | 27815 |
| 6.150% due 10/01/2034  | 8800 | 8951 |
| **American Express Co.** <br>5.442% due 01/30/2036 •  | 20900 | 21718 |
| **American Financial Group, Inc.** <br>4.500% due 06/15/2047 | 40300 | 33947 |
| **American Homes 4 Rent LP**  |  |  |
| 2.375% due 07/15/2031  | 700 | 626 |
| 3.375% due 07/15/2051  | 10700 | 7251 |
| 3.625% due 04/15/2032  | 18877 | 17852 |
| 4.250% due 02/15/2028  | 7483 | 7504 |
| 4.300% due 04/15/2052  | 10700 | 8562 |
| 4.950% due 06/15/2030  | 1049 | 1070 |
| 5.250% due 03/15/2035  | 3700 | 3764 |
| **American Tower Corp.**  |  |  |
| 1.875% due 10/15/2030  | 300 | 268 |
| 2.100% due 06/15/2030  | 17600 | 15984 |
| 2.950% due 01/15/2051 (m)  | 26346 | 16846 |
| 3.100% due 06/15/2050  | 14059 | 9248 |
| 3.125% due 01/15/2027  | 7300 | 7234 |
| 3.375% due 10/15/2026  | 2666 | 2653 |
| 3.600% due 01/15/2028  | 250 | 248 |
| 3.700% due 10/15/2049  | 7300 | 5433 |
| 3.800% due 08/15/2029  | 61400 | 60477 |
| 3.950% due 03/15/2029  | 25300 | 25098 |
| 4.050% due 03/15/2032  | 1300 | 1266 |
| 4.400% due 02/15/2026  | 3100 | 3101 |
| 5.250% due 07/15/2028  | 2095 | 2155 |
| 5.350% due 03/15/2035  | 1700 | 1744 |
| 5.450% due 02/15/2034  | 153 | 159 |
| 5.550% due 07/15/2033  | 13475 | 14118 |
| 5.650% due 03/15/2033  | 11675 | 12323 |

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<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 5.900% due 11/15/2033  | 22000 | 23511 |
| **AmFam Holdings, Inc.**  |  |  |
| 2.805% due 03/11/2031  | 11960 | 10524 |
| 3.833% due 03/11/2051  | 10315 | 6966 |
| **Antares Holdings LP**  |  |  |
| 2.750% due 01/15/2027  | 7700 | 7529 |
| 3.750% due 07/15/2027  | 18400 | 18002 |
| 3.950% due 07/15/2026  | 4100 | 4086 |
| 6.500% due 02/08/2029  | 10000 | 10230 |
| 7.950% due 08/11/2028  | 5500 | 5822 |
| **Apollo Debt Solutions BDC**  |  |  |
| 6.550% due 03/15/2032  | 7500 | 7743 |
| 6.700% due 07/29/2031  | 6150 | 6493 |
| 6.900% due 04/13/2029  | 8346 | 8762 |
| **Arch Capital Finance LLC** <br>5.031% due 12/15/2046 | 4100 | 3832 |
| **Arch Capital Group Ltd.** <br>3.635% due 06/30/2050 (m) | 23025 | 17122 |
| **ARES Finance Co. II LLC** <br>3.250% due 06/15/2030 | 6400 | 6073 |
| **ARES Finance Co. III LLC** <br>4.125% due 06/30/2051 •  | 12400 | 12247 |
| **ARES Finance Co. IV LLC** <br>3.650% due 02/01/2052 | 5100 | 3570 |
| **ARES Management Corp.**  |  |  |
| 5.600% due 10/11/2054  | 12000 | 11375 |
| 6.375% due 11/10/2028  | 34300 | 36312 |
| **ARES Strategic Income Fund**  |  |  |
| 4.850% due 01/15/2029  | 3000 | 2966 |
| 5.150% due 01/15/2031  | 5000 | 4909 |
| 5.600% due 02/15/2030  | 4800 | 4826 |
| 6.200% due 03/21/2032  | 4670 | 4792 |
| **Arthur J Gallagher & Co.** <br>3.500% due 05/20/2051 | 17500 | 12253 |
| **Assured Guaranty U.S. Holdings, Inc.**  |  |  |
| 3.600% due 09/15/2051  | 10300 | 7276 |
| 6.125% due 09/15/2028  | 8400 | 8834 |
| **Athene Global Funding**  |  |  |
| 5.322% due 11/13/2031  | 12000 | 12180 |
| 5.516% due 03/25/2027  | 11300 | 11481 |
| 5.526% due 07/11/2031  | 14600 | 14976 |
| 5.583% due 01/09/2029  | 6700 | 6886 |
| **Augustar Life Insurance Co.** <br>6.875% due 06/15/2042 | 400 | 382 |
| **Aviation Capital Group LLC** <br>3.500% due 11/01/2027 | 2050 | 2020 |
| **Avolon Holdings Funding Ltd.**  |  |  |
| 2.528% due 11/18/2027  | 16946 | 16443 |
| 4.700% due 01/30/2031  | 5200 | 5168 |
| 4.950% due 10/15/2032  | 15000 | 14867 |
| **AXIS Specialty Finance LLC** <br>3.900% due 07/15/2029 | 4000 | 3961 |
| **Banco Bilbao Vizcaya Argentaria SA** <br>6.033% due 03/13/2035 •  | 15000 | 15949 |
| **Banco Inbursa SA Institucion De Banca Multiple Grupo Financiero Inbursa** <br>4.375% due 04/11/2027 | 5100 | 5098 |
| **Banco Santander SA**  |  |  |
| 3.306% due 06/27/2029  | 3600 | 3500 |
| 4.875% due 10/18/2031  | 4300 | 5445 |
| **Bank Leumi Le-Israel BM** <br>7.129% due 07/18/2033 •(i) | $7500 | 7852 |
| **Bank of America Corp.**  |  |  |
| 2.299% due 07/21/2032 •  | 12355 | 11051 |
| 2.687% due 04/22/2032 •  | 10000 | 9179 |
| 3.194% due 07/23/2030 •  | 30600 | 29564 |
| 3.311% due 04/22/2042 •  | 8700 | 6867 |
| 3.419% due 12/20/2028 •  | 81151 | 80156 |
| 3.593% due 07/21/2028 •  | 5700 | 5663 |
| 3.974% due 02/07/2030 •  | 14862 | 14786 |
| 4.083% due 03/20/2051 •  | 12200 | 9784 |
| 4.571% due 04/27/2033 •  | 88000 | 87811 |
| 4.897% (SOFRRATE + 1.010%) due 01/24/2031 ~  | 14000 | 14011 |
| 5.080% due 01/20/2027 •  | 1300 | 1301 |
| 5.202% due 04/25/2029 •  | 4825 | 4949 |
| 5.288% due 04/25/2034 •  | 5000 | 5149 |
| 5.468% due 01/23/2035 •  | 22300 | 23238 |
| 5.511% due 01/24/2036 •  | 30000 | 31297 |
| 5.872% due 09/15/2034 •  | 2521 | 2691 |
| **Barclays PLC**  |  |  |
| 4.972% due 05/16/2029 •  | 24214 | 24623 |
| 5.746% due 08/09/2033 •  | 2400 | 2520 |
| 5.851% due 03/21/2035 •  | 12100 | 16781 |
| 6.224% due 05/09/2034 •  | $12195 | 13120 |
| 6.692% due 09/13/2034 •  | 13720 | 15196 |
| 7.437% due 11/02/2033 •  | 7300 | 8350 |
| 8.375% due 09/15/2031 •(h)(i)  | 2200 | 3182 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 8.875% due 09/15/2027 •(h)(i)  | 1347 | 1909 |
| 9.250% due 09/15/2028 •(h)(i)  | 23900 | 34794 |
| **BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico**  |  |  |
| 5.875% due 09/13/2034 •(i)  | $1000 | 999 |
| 7.625% due 02/11/2035 •(i)  | 10000 | 10525 |
| 8.450% due 06/29/2038 •(i)  | 400 | 443 |
| **Berkshire Hathaway Finance Corp.**  |  |  |
| 2.875% due 03/15/2032  | 7900 | 7366 |
| 3.850% due 03/15/2052  | 13600 | 10476 |
| 4.200% due 08/15/2048  | 13700 | 11443 |
| **Berkshire Hathaway, Inc.** <br>4.500% due 02/11/2043 | 245 | 230 |
| **BGC Group, Inc.**  |  |  |
| 6.150% due 04/02/2030  | 9800 | 10162 |
| 6.600% due 06/10/2029  | 3500 | 3655 |
| 8.000% due 05/25/2028  | 5600 | 5987 |
| **Blackstone Holdings Finance Co. LLC**  |  |  |
| 2.000% due 01/30/2032  | 5300 | 4570 |
| 2.800% due 09/30/2050  | 10500 | 6500 |
| 3.200% due 01/30/2052  | 43000 | 28931 |
| 3.500% due 09/10/2049  | 5500 | 3956 |
| 4.000% due 10/02/2047  | 4600 | 3629 |
| **Blackstone Secured Lending Fund** <br>2.750% due 09/16/2026 | 8300 | 8205 |
| **Block Financial LLC** <br>2.500% due 07/15/2028 | 4181 | 3990 |
| **Blue Owl Finance LLC**  |  |  |
| 3.125% due 06/10/2031  | 28800 | 26148 |
| 4.125% due 10/07/2051  | 10500 | 7395 |
| 4.375% due 02/15/2032  | 11000 | 10478 |
| 6.250% due 04/18/2034  | 13000 | 13412 |
| **BNP Paribas SA**  |  |  |
| 3.052% due 01/13/2031 •  | 10700 | 10135 |
| 3.132% due 01/20/2033 •(m)  | 12400 | 11315 |
| 5.125% due 01/13/2029 •  | 10100 | 10293 |
| 5.786% due 01/13/2033 •  | 9400 | 9877 |
| 7.375% due 06/11/2030 •(h)(i)  | 4200 | 5426 |
| 7.375% due 09/10/2034 •(h)(i)  | $12400 | 12988 |
| 8.500% due 08/14/2028 •(h)(i)(m)  | 5400 | 5745 |
| **BPCE SA**  |  |  |
| 5.716% due 01/18/2030 •  | 4200 | 4349 |
| 5.936% due 05/30/2035 •  | 7700 | 8033 |
| 6.293% due 01/14/2036 •  | 16450 | 17567 |
| 7.003% due 10/19/2034 •  | 15544 | 17316 |
| **Brandywine Operating Partnership LP** <br>4.550% due 10/01/2029 (m) | 3400 | 3248 |
| **Brighthouse Financial, Inc.** <br>3.850% due 12/22/2051 | 8600 | 5182 |
| **Broadstone Net Lease LLC** <br>5.000% due 11/01/2032 | 2200 | 2209 |
| **Brookfield Asset Management Ltd.** <br>6.077% due 09/15/2055 | 3000 | 3070 |
| **Brookfield Capital Finance LLC** <br>6.087% due 06/14/2033 | 10000 | 10715 |
| **Brookfield Finance LLC/Brookfield Finance, Inc.** <br>3.450% due 04/15/2050 | 19000 | 13162 |
| **Brookfield Finance, Inc.**  |  |  |
| 3.500% due 03/30/2051  | 14900 | 10369 |
| 3.625% due 02/15/2052  | 33900 | 24002 |
| 4.700% due 09/20/2047  | 34350 | 29822 |
| 5.330% due 01/15/2036  | 1400 | 1403 |
| 5.813% due 03/03/2055  | 6000 | 5930 |
| 5.968% due 03/04/2054  | 32700 | 33086 |
| **Brown & Brown, Inc.**  |  |  |
| 4.500% due 03/15/2029  | 10300 | 10351 |
| 4.950% due 03/17/2052  | 14800 | 12922 |
| 5.550% due 06/23/2035  | 2700 | 2770 |
| **Cantor Fitzgerald LP**  |  |  |
| 4.500% due 04/14/2027  | 14500 | 14487 |
| 7.200% due 12/12/2028  | 15000 | 15952 |
| **Capital One Financial Corp.** <br>5.268% due 05/10/2033 •  | 3800 | 3904 |
| **Carlyle Finance LLC** <br>5.650% due 09/15/2048 | 5700 | 5587 |
| **Carlyle Finance Subsidiary LLC** <br>3.500% due 09/19/2029 | 3600 | 3505 |
| **CBRE Services, Inc.** <br>5.950% due 08/15/2034 | 10000 | 10707 |
| **Chubb INA Holdings LLC**  |  |  |
| 2.850% due 12/15/2051  | 3800 | 2434 |
| 3.050% due 12/15/2061  | 10748 | 6600 |
| **CI Financial Corp.**  |  |  |
| 3.200% due 12/17/2030  | 2500 | 2266 |
| 4.100% due 06/15/2051  | 38200 | 26205 |
| 4.625% due 12/12/2031  | 10900 | 12910 |
| 7.500% due 05/30/2029  | $17800 | 18943 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Citadel Finance LLC** <br>5.900% due 02/10/2030 | 22200 | 22673 |
| **Citadel LP**  |  |  |
| 6.000% due 01/23/2030  | 2200 | 2299 |
| 6.375% due 01/23/2032  | 2900 | 3080 |
| **Citibank NA** <br>5.570% due 04/30/2034 | 2000 | 2116 |
| **Citigroup, Inc.**  |  |  |
| 3.200% due 10/21/2026  | 13052 | 12978 |
| 3.668% due 07/24/2028 •  | 10000 | 9939 |
| 4.075% due 04/23/2029 •  | 44000 | 43979 |
| 5.333% due 03/27/2036 •  | 10200 | 10439 |
| 5.827% due 02/13/2035 •  | 13400 | 13931 |
| **CNA Financial Corp.**  |  |  |
| 5.125% due 02/15/2034  | 3500 | 3531 |
| 5.500% due 06/15/2033  | 7400 | 7686 |
| **Commonwealth Bank of Australia** <br>3.784% due 03/14/2032 (i) | 13700 | 13067 |
| **Constellation Global Funding** <br>4.850% due 10/22/2030 | 2800 | 2781 |
| **Cooperatieve Rabobank UA**  |  |  |
| 3.758% due 04/06/2033 •  | 37195 | 35236 |
| 4.375% due 06/29/2027 •(h)(i)  | 21400 | 25309 |
| 5.447% due 03/05/2030 •  | $6100 | 6305 |
| **COPT Defense Properties LP**  |  |  |
| 2.250% due 03/15/2026  | 3600 | 3584 |
| 2.900% due 12/01/2033  | 4000 | 3421 |
| 4.500% due 10/15/2030  | 2100 | 2093 |
| **Corebridge Financial, Inc.**  |  |  |
| 3.900% due 04/05/2032  | 18900 | 17948 |
| 4.350% due 04/05/2042  | 10400 | 8934 |
| 4.400% due 04/05/2052  | 30500 | 24764 |
| 6.375% due 09/15/2054 •(m)  | 7000 | 7057 |
| 6.875% due 12/15/2052 •  | 12500 | 12807 |
| **Corebridge Global Funding** <br>4.900% due 01/07/2028 | 3700 | 3764 |
| **CoStar Group, Inc.** <br>2.800% due 07/15/2030 | 11400 | 10455 |
| **Credit Agricole SA** <br>7.250% due 09/23/2028 •(h)(i) | 35700 | 44972 |
| **Credit Opportunities Partners LLC**  |  |  |
| 6.520% due 03/20/2028 «(k)  | $6900 | 6983 |
| 6.740% due 03/20/2030 «(k)  | 8200 | 8353 |
| **Crown Castle, Inc.**  |  |  |
| 2.100% due 04/01/2031  | 700 | 618 |
| 2.250% due 01/15/2031  | 5253 | 4698 |
| 2.500% due 07/15/2031  | 385 | 344 |
| 3.100% due 11/15/2029  | 7500 | 7150 |
| 3.250% due 01/15/2051  | 16025 | 10612 |
| 3.800% due 02/15/2028  | 14700 | 14589 |
| 4.000% due 11/15/2049  | 39410 | 29630 |
| 4.300% due 02/15/2029  | 4400 | 4390 |
| 4.450% due 02/15/2026  | 13095 | 13093 |
| 4.750% due 05/15/2047  | 16840 | 14639 |
| 5.200% due 09/01/2034  | 17424 | 17610 |
| 5.200% due 02/15/2049  | 18710 | 16953 |
| **DAE Sukuk Difc Ltd.** <br>3.750% due 02/15/2026 | 5000 | 4991 |
| **Dai-ichi Life Insurance Co. Ltd.** <br>6.200% due 01/16/2035 •(h) | 8400 | 8809 |
| **Danske Bank AS** <br>5.427% due 03/01/2028 •  | 2100 | 2133 |
| **Deutsche Bank AG** <br>3.729% due 01/14/2032 •  | 16000 | 15129 |
| **Digital Realty Trust LP** <br>4.450% due 07/15/2028 | 8886 | 8943 |
| **DOC Dr. LLC** <br>3.950% due 01/15/2028 | 7900 | 7863 |
| **Doctors Co. An Interinsurance Exchange** <br>4.500% due 01/18/2032 | 36000 | 32399 |
| **EPR Properties**  |  |  |
| 3.600% due 11/15/2031  | 2700 | 2507 |
| 3.750% due 08/15/2029  | 11360 | 11023 |
| 4.500% due 06/01/2027  | 9325 | 9344 |
| 4.750% due 12/15/2026  | 100 | 100 |
| 4.950% due 04/15/2028  | 14200 | 14316 |
| **Equinix Europe 2 Financing Corp. LLC** <br>5.500% due 06/15/2034 | 1000 | 1036 |
| **Equinix, Inc.**  |  |  |
| 3.000% due 07/15/2050  | 17681 | 11333 |
| 3.900% due 04/15/2032 (m)  | 49725 | 47810 |
| **Equitable Holdings, Inc.**  |  |  |
| 4.350% due 04/20/2028  | 2689 | 2700 |
| 4.572% due 02/15/2029  | 6032 | 6067 |
| 5.000% due 04/20/2048  | 15017 | 13493 |
| 6.700% due 03/28/2055 •  | 13000 | 13607 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Erste Group Bank AG**  |  |  |
| 4.250% due 10/15/2027 •(h)(i)  | 8000 | 9395 |
| 8.500% due 10/15/2028 •(h)(i)  | 1200 | 1568 |
| **Essential Properties LP**  |  |  |
| 2.950% due 07/15/2031  | $5000 | 4573 |
| 5.400% due 12/01/2035  | 2200 | 2205 |
| **Essex Portfolio LP**  |  |  |
| 2.550% due 06/15/2031  | 6192 | 5629 |
| 2.650% due 09/01/2050  | 11800 | 7155 |
| 3.625% due 05/01/2027  | 900 | 897 |
| 5.375% due 04/01/2035  | 8000 | 8234 |
| 5.500% due 04/01/2034  | 1011 | 1050 |
| **Extra Space Storage LP**  |  |  |
| 2.350% due 03/15/2032  | 10000 | 8759 |
| 3.900% due 04/01/2029  | 2900 | 2870 |
| 4.950% due 01/15/2033  | 2800 | 2836 |
| **F&G Global Funding** <br>5.875% due 01/16/2030 | 5000 | 5195 |
| **Fairfax Financial Holdings Ltd.**  |  |  |
| 4.625% due 04/29/2030  | 7200 | 7230 |
| 4.850% due 04/17/2028  | 9600 | 9737 |
| 5.625% due 08/16/2032  | 7450 | 7781 |
| 6.000% due 12/07/2033  | 15000 | 15940 |
| 6.100% due 03/15/2055 (m)  | 19700 | 19853 |
| 6.350% due 03/22/2054  | 11900 | 12370 |
| **Farmers Insurance Exchange**  |  |  |
| 4.747% due 11/01/2057 •  | 21600 | 18581 |
| 7.000% due 10/15/2064 •  | 11100 | 11465 |
| **First American Financial Corp.**  |  |  |
| 4.000% due 05/15/2030  | 3300 | 3195 |
| 5.450% due 09/30/2034  | 2200 | 2201 |
| **FMR LLC**  |  |  |
| 5.150% due 02/01/2043  | 1550 | 1476 |
| 6.450% due 11/15/2039  | 500 | 554 |
| 6.500% due 12/14/2040  | 10000 | 11105 |
| **Ford Holdings LLC** <br>9.300% due 03/01/2030 | 10500 | 11912 |
| **Ford Motor Credit Co. LLC**  |  |  |
| 5.850% due 05/17/2027  | 5000 | 5079 |
| 5.918% due 03/20/2028  | 4000 | 4095 |
| **Franklin Resources, Inc.** <br>2.950% due 08/12/2051 | 2800 | 1775 |
| **FS KKR Capital Corp.**  |  |  |
| 3.125% due 10/12/2028  | 6200 | 5723 |
| 6.125% due 01/15/2030 (m)  | 8000 | 7878 |
| 6.875% due 08/15/2029  | 1330 | 1341 |
| 7.875% due 01/15/2029  | 17000 | 17606 |
| **GA Global Funding Trust**  |  |  |
| 5.200% due 12/09/2031  | 4000 | 4062 |
| 5.400% due 01/13/2030  | 2700 | 2770 |
| 5.500% due 01/08/2029  | 4200 | 4320 |
| 5.900% due 01/13/2035  | 10600 | 10873 |
| **Global Atlantic Fin Co.**  |  |  |
| 6.750% due 03/15/2054  | 1810 | 1851 |
| 7.950% due 06/15/2033  | 10000 | 11427 |
| 7.950% due 10/15/2054 •  | 5500 | 5709 |
| **GLP Capital LP/GLP Financing II, Inc.**  |  |  |
| 3.250% due 01/15/2032  | 12974 | 11773 |
| 4.000% due 01/15/2030  | 13040 | 12716 |
| 4.000% due 01/15/2031  | 3100 | 2980 |
| 5.250% due 02/15/2033  | 1800 | 1808 |
| 5.300% due 01/15/2029  | 28800 | 29321 |
| 5.625% due 09/15/2034  | 19234 | 19530 |
| 5.750% due 06/01/2028  | 1166 | 1201 |
| 5.750% due 11/01/2037  | 17300 | 17270 |
| 6.250% due 09/15/2054  | 15000 | 14928 |
| 6.750% due 12/01/2033  | 4400 | 4802 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 2.615% due 04/22/2032 •  | 4000 | 3649 |
| 3.102% due 02/24/2033 •  | 1700 | 1567 |
| 3.436% due 02/24/2043 •  | 14100 | 11054 |
| 3.691% due 06/05/2028 •  | 14644 | 14570 |
| 4.411% due 04/23/2039 •  | 9100 | 8427 |
| 5.016% due 10/23/2035 •  | 50000 | 50285 |
| 5.049% due 07/23/2030 •  | 6200 | 6354 |
| 5.330% due 07/23/2035 •  | 17724 | 18217 |
| 5.536% due 01/28/2036 •  | 20000 | 20769 |
| 5.734% due 01/28/2056 •  | 25900 | 26195 |
| 6.750% due 10/01/2037  | 80100 | 89481 |
| **Goodman U.S. Finance Five LLC** <br>4.625% due 05/04/2032 | 21100 | 20851 |
| **Goodman U.S. Finance Four LLC** <br>4.500% due 10/15/2037 | 21200 | 19821 |
| **Goodman U.S. Finance Six LLC** <br>5.125% due 10/07/2034 | 10900 | 10976 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Goodman U.S. Finance Three LLC** <br>3.700% due 03/15/2028 | 21450 | 21249 |
| **Great-West Lifeco Finance Delaware LP** <br>4.150% due 06/03/2047 | 3200 | 2601 |
| **Guardian Life Insurance Co. of America** <br>4.850% due 01/24/2077 | 7903 | 6509 |
| **HA Sustainable Infrastructure Capital, Inc.**  |  |  |
| 6.375% due 07/01/2034  | 16600 | 16918 |
| 6.750% due 07/15/2035  | 15100 | 15811 |
| **Hanover Insurance Group, Inc.** <br>4.500% due 04/15/2026 | 6600 | 6601 |
| **Hardwood Funding LLC**  |  |  |
| 4.840% due 06/07/2028 «(k)  | 2600 | 2628 |
| 4.980% due 06/07/2030 «(k)  | 1700 | 1729 |
| 5.160% due 06/07/2032 «(k)  | 4200 | 4296 |
| **Hartford Insurance Group, Inc.** <br>6.238% due 02/12/2067 •  | 3600 | 3412 |
| **Healthpeak OP LLC**  |  |  |
| 5.375% due 02/15/2035  | 11100 | 11341 |
| 6.750% due 02/01/2041  | 3500 | 3846 |
| **High Street Funding Trust II** <br>4.682% due 02/15/2048 | 8800 | 7649 |
| **Highwoods Realty LP**  |  |  |
| 2.600% due 02/01/2031  | 2700 | 2425 |
| 4.200% due 04/15/2029  | 2198 | 2168 |
| 7.650% due 02/01/2034  | 1822 | 2078 |
| **Horizon Mutual Holdings, Inc.** <br>6.200% due 11/15/2034 | 21227 | 20543 |
| **Host Hotels & Resorts LP** <br>5.700% due 07/01/2034 | 25 | 26 |
| **HPS Corporate Lending Fund** <br>5.950% due 04/14/2032 | 6800 | 6902 |
| **HSBC Holdings PLC**  |  |  |
| 2.804% due 05/24/2032 •  | 46910 | 42934 |
| 4.583% due 06/19/2029 •  | 3050 | 3079 |
| 4.619% due 11/06/2031 •  | 6600 | 6622 |
| 5.133% due 11/06/2036 •  | 10000 | 10031 |
| 5.402% due 08/11/2033 •  | 500 | 518 |
| 5.450% due 03/03/2036 •  | 15900 | 16412 |
| 5.875% due 09/28/2026 •(h)(i)  | 17200 | 23265 |
| 6.500% due 03/23/2028 •(h)(i)(m)  | $17900 | 18319 |
| 6.500% due 09/15/2037  | 18115 | 19604 |
| 6.800% due 06/01/2038  | 4300 | 4795 |
| 7.000% due 04/07/2038  | 1900 | 2795 |
| 7.625% due 05/17/2032  | $11347 | 12733 |
| **Hudson Pacific Properties LP**  |  |  |
| 3.250% due 01/15/2030  | 7600 | 6432 |
| 4.650% due 04/01/2029 (m)  | 4537 | 4198 |
| 5.950% due 02/15/2028  | 2400 | 2367 |
| **ING Groep NV** <br>5.550% due 03/19/2035 •  | 13696 | 14251 |
| **Intercontinental Exchange, Inc.**  |  |  |
| 3.000% due 09/15/2060  | 9146 | 5491 |
| 4.600% due 03/15/2033  | 17886 | 18077 |
| **Intesa Sanpaolo SpA**  |  |  |
| 6.625% due 06/20/2033  | 15000 | 16538 |
| 7.778% due 06/20/2054 •  | 26000 | 30915 |
| 7.800% due 11/28/2053  | 34100 | 41700 |
| **Invitation Homes Operating Partnership LP**  |  |  |
| 2.000% due 08/15/2031  | 3600 | 3150 |
| 2.700% due 01/15/2034  | 7800 | 6670 |
| 4.150% due 04/15/2032  | 14500 | 14081 |
| 4.875% due 02/01/2035  | 2600 | 2574 |
| 4.950% due 01/15/2033  | 8100 | 8221 |
| 5.450% due 08/15/2030  | 4400 | 4582 |
| 5.500% due 08/15/2033  | 2200 | 2284 |
| **JAB Holdings BV**  |  |  |
| 2.200% due 11/23/2030  | 1571 | 1400 |
| 3.750% due 05/28/2051  | 5200 | 3572 |
| 4.500% due 04/08/2052  | 60700 | 47461 |
| **Jefferies Financial Group, Inc.** <br>6.500% due 01/20/2043 | 22200 | 23117 |
| **JPMorgan Chase & Co.**  |  |  |
| 2.545% due 11/08/2032 •  | 12500 | 11284 |
| 2.739% due 10/15/2030 •  | 20175 | 19146 |
| 2.963% due 01/25/2033 •  | 31000 | 28459 |
| 3.509% due 01/23/2029 •  | 12100 | 11992 |
| 3.702% due 05/06/2030 •  | 5000 | 4926 |
| 3.897% due 01/23/2049 •  | 4720 | 3768 |
| 4.005% due 04/23/2029 •  | 12113 | 12104 |
| 4.586% due 04/26/2033 •  | 23000 | 23129 |
| 4.810% due 10/22/2036 •  | 23700 | 23542 |
| 4.946% due 10/22/2035 •  | 13500 | 13638 |
| 4.995% due 07/22/2030 •  | 7300 | 7496 |
| 5.012% due 01/23/2030 •  | 30500 | 31276 |
| 5.294% due 07/22/2035 •  | 12300 | 12694 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 5.336% due 01/23/2035 •  | 15000 | 15552 |
| 5.350% due 06/01/2034 •  | 33100 | 34402 |
| 5.502% due 01/24/2036 •  | 15600 | 16314 |
| 5.534% due 11/29/2045 •  | 40340 | 40994 |
| 5.572% due 04/22/2036 •  | 10000 | 10496 |
| 5.576% due 07/23/2036 •  | 11400 | 11797 |
| 5.581% due 04/22/2030 •  | 5300 | 5531 |
| 5.766% due 04/22/2035 •  | 9460 | 10086 |
| 6.087% due 10/23/2029 •  | 3356 | 3536 |
| 6.254% due 10/23/2034 •  | 11400 | 12536 |
| **JPMorgan Chase Bank NA** <br>5.110% due 12/08/2026 | 10000 | 10110 |
| **KBC Group NV**  |  |  |
| 6.250% due 09/17/2031 •(h)(i)  | 600 | 741 |
| 8.000% due 09/05/2028 •(h)(i)  | 2400 | 3107 |
| **Kilroy Realty LP**  |  |  |
| 2.650% due 11/15/2033  | $15850 | 13012 |
| 3.050% due 02/15/2030  | 1500 | 1397 |
| 4.250% due 08/15/2029 (m)  | 12400 | 12166 |
| 4.750% due 12/15/2028  | 2000 | 2011 |
| 5.875% due 10/15/2035  | 14200 | 14272 |
| 6.250% due 01/15/2036  | 3300 | 3413 |
| **KKR Financial Holdings LLC** <br>5.400% due 05/23/2033 | 15900 | 15499 |
| **KKR Group Finance Co. VII LLC** <br>3.625% due 02/25/2050 | 26000 | 18787 |
| **KKR Group Finance Co. VIII LLC** <br>3.500% due 08/25/2050 | 43777 | 30936 |
| **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.** <br>5.500% due 08/01/2030 | 1400 | 1434 |
| **Lazard Group LLC**  |  |  |
| 4.500% due 09/19/2028  | 400 | 403 |
| 6.000% due 03/15/2031  | 4000 | 4241 |
| **Legg Mason, Inc.** <br>5.625% due 01/15/2044 (m) | 18493 | 18547 |
| **Liberty Mutual Group, Inc.**  |  |  |
| 3.950% due 05/15/2060  | 20300 | 14142 |
| 4.300% due 02/01/2061  | 14500 | 9677 |
| **Lloyds Bank PLC** <br>0.000% due 04/02/2032 þ (e) | 10000 | 7506 |
| **Lloyds Banking Group PLC**  |  |  |
| 4.425% due 11/04/2031 •  | 4800 | 4787 |
| 4.550% due 08/16/2028  | 20200 | 20465 |
| 4.943% due 11/04/2036 •  | 10000 | 9898 |
| 5.590% due 11/26/2035 •  | 14500 | 15185 |
| 5.679% due 01/05/2035 •(m)  | 11629 | 12248 |
| 8.000% due 09/27/2029 •(h)(i)(m)  | 750 | 812 |
| 8.500% due 09/27/2027 •(h)(i)  | 4600 | 6503 |
| **LPL Holdings, Inc.** <br>5.750% due 06/15/2035 | $19800 | 20393 |
| **LSEG Finance PLC** <br>3.200% due 04/06/2041 | 2700 | 2085 |
| **M&G PLC** <br>5.560% due 07/20/2055 •  | 1900 | 2487 |
| **Marex Group PLC** <br>5.829% due 05/08/2028 | $800 | 814 |
| **Marsh & McLennan Cos., Inc.**  |  |  |
| 4.200% due 03/01/2048  | 4900 | 4042 |
| 4.350% due 01/30/2047  | 4800 | 4084 |
| 4.900% due 03/15/2049  | 5200 | 4715 |
| 5.000% due 03/15/2035  | 10000 | 10134 |
| 5.350% due 11/15/2044  | 20000 | 19636 |
| 5.400% due 03/15/2055  | 34900 | 33626 |
| 5.450% due 03/15/2053  | 10800 | 10506 |
| 5.700% due 09/15/2053 (m)  | 20000 | 20188 |
| **Massachusetts Mutual Life Insurance Co.**  |  |  |
| 3.729% due 10/15/2070  | 11166 | 7234 |
| 4.900% due 04/01/2077  | 4800 | 3879 |
| 5.077% due 02/15/2069 •  | 27500 | 24451 |
| **Meiji Yasuda Life Insurance Co.**  |  |  |
| 5.100% due 04/26/2048 •  | 7100 | 7204 |
| 6.100% due 06/11/2055 •  | 15000 | 15571 |
| **Mercury General Corp.** <br>4.400% due 03/15/2027 | 4495 | 4493 |
| **MetLife, Inc.**  |  |  |
| 6.350% due 03/15/2055 •  | 15100 | 15932 |
| 9.250% due 04/08/2068  | 51066 | 61496 |
| 10.750% due 08/01/2069  | 5132 | 6867 |
| **Mitsubishi UFJ Financial Group, Inc.**  |  |  |
| 2.048% due 07/17/2030  | 13900 | 12634 |
| 2.309% due 07/20/2032 •  | 3000 | 2677 |
| 3.751% due 07/18/2039  | 1200 | 1050 |
| 4.315% due 04/19/2033 •  | 25000 | 24604 |
| 5.133% due 07/20/2033 •  | 17300 | 17774 |
| 5.188% due 09/12/2036 •  | 16900 | 17177 |
| 5.441% due 02/22/2034 •  | 11600 | 12142 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Mizuho Financial Group, Inc.**  |  |  |
| 1.979% due 09/08/2031 •  | 18400 | 16543 |
| 2.172% due 05/22/2032 •  | 6556 | 5832 |
| 2.201% due 07/10/2031 •  | 9800 | 8930 |
| 5.422% due 05/13/2036 •  | 10000 | 10366 |
| **Morgan Stanley**  |  |  |
| 0.000% due 04/02/2032 þ(e)(k)  | 62100 | 45551 |
| 2.239% due 07/21/2032 •  | 28500 | 25332 |
| 2.943% due 01/21/2033 •  | 5200 | 4748 |
| 3.217% due 04/22/2042 •  | 15200 | 11919 |
| 4.356% due 10/22/2031 •  | 19000 | 18942 |
| 4.654% due 10/18/2030 •  | 14800 | 14982 |
| 4.889% due 07/20/2033 •  | 2700 | 2740 |
| 4.892% due 10/22/2036 •  | 33400 | 33117 |
| 5.042% due 07/19/2030 •  | 3400 | 3487 |
| 5.250% due 04/21/2034 •  | 6500 | 6694 |
| 5.297% due 04/20/2037 •  | 16019 | 16305 |
| 5.320% due 07/19/2035 •  | 18000 | 18536 |
| 5.424% due 07/21/2034 •  | 11400 | 11863 |
| 5.466% due 01/18/2035 •  | 8373 | 8707 |
| 5.587% due 01/18/2036 •  | 15600 | 16308 |
| 5.656% due 04/18/2030 •  | 1900 | 1980 |
| 5.664% due 04/17/2036 •  | 8000 | 8402 |
| 5.831% due 04/19/2035 •  | 10000 | 10631 |
| 6.627% due 11/01/2034 •  | 8255 | 9234 |
| **Mutual of Omaha Cos Global Funding** <br>5.450% due 12/12/2028 | 3100 | 3211 |
| **Mutual of Omaha Insurance Co.** <br>6.144% due 01/16/2064 •  | 25000 | 26070 |
| **National Health Investors, Inc.**  |  |  |
| 3.000% due 02/01/2031  | 10600 | 9640 |
| 5.350% due 02/01/2033  | 900 | 899 |
| **Nationwide Building Society**  |  |  |
| 4.302% due 03/08/2029 •  | 1500 | 1503 |
| 6.557% due 10/18/2027 •  | 10755 | 10960 |
| **Nationwide Financial Services, Inc.** <br>3.900% due 11/30/2049 | 10000 | 7590 |
| **Nationwide Mutual Insurance Co.**  |  |  |
| 4.350% due 04/30/2050  | 2250 | 1769 |
| 9.375% due 08/15/2039  | 32300 | 43256 |
| **NatWest Group PLC**  |  |  |
| 4.600% due 06/28/2031 •(h)(i)  | 19400 | 18053 |
| 5.076% due 01/27/2030 •  | 42350 | 43304 |
| 5.778% due 03/01/2035 •  | 10453 | 11059 |
| 7.300% due 11/19/2034 •(h)(i)  | 10000 | 10614 |
| 7.625% due 09/30/2035 •(h)(i)(m)  | 11000 | 15459 |
| 8.125% due 11/10/2033 •(h)(i)  | $5000 | 5640 |
| **Neuberger Berman Group LLC/Neuberger Berman Finance Corp.**  |  |  |
| 4.500% due 03/15/2027  | 6200 | 6212 |
| 4.875% due 04/15/2045  | 13688 | 11952 |
| **New York Life Insurance Co.**  |  |  |
| 4.450% due 05/15/2069  | 16700 | 13062 |
| 6.750% due 11/15/2039  | 4260 | 4874 |
| **Newmark Group, Inc.** <br>7.500% due 01/12/2029 | 3300 | 3543 |
| **Nippon Life Insurance Co.** <br>2.750% due 01/21/2051 •  | 36900 | 33374 |
| **Nissan Motor Acceptance Co. LLC**  |  |  |
| 2.000% due 03/09/2026  | 39200 | 39042 |
| 2.750% due 03/09/2028  | 9503 | 9036 |
| **NLG Global Funding** <br>5.400% due 01/23/2030 | 6100 | 6273 |
| **Nomura Holdings, Inc.**  |  |  |
| 2.172% due 07/14/2028  | 11600 | 11052 |
| 2.608% due 07/14/2031  | 12400 | 11210 |
| 2.679% due 07/16/2030  | 11200 | 10367 |
| 2.999% due 01/22/2032  | 14100 | 12801 |
| 3.103% due 01/16/2030  | 2200 | 2092 |
| 5.035% (SOFRRATE + 1.250%) due 07/02/2027 ~  | 3800 | 3831 |
| 5.842% due 01/18/2028  | 12400 | 12807 |
| 6.181% due 01/18/2033  | 30000 | 32517 |
| **Nordea Bank Abp** <br>3.750% due 03/01/2029 •(h)(i) | 2500 | 2380 |
| **Norinchukin Bank** <br>5.094% due 10/16/2029 | 2400 | 2448 |
| **Northwestern Mutual Life Insurance Co.**  |  |  |
| 3.450% due 03/30/2051  | 31400 | 21973 |
| 3.625% due 09/30/2059  | 62990 | 43890 |
| 3.850% due 09/30/2047  | 10340 | 8043 |
| 6.063% due 03/30/2040  | 1 | 1 |
| 6.170% due 05/29/2055  | 7000 | 7436 |
| **Old Republic International Corp.** <br>3.850% due 06/11/2051 | 37900 | 27555 |
| **Omega Healthcare Investors, Inc.**  |  |  |
| 3.375% due 02/01/2031  | 500 | 467 |
| 3.625% due 10/01/2029  | 4000 | 3878 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 4.750% due 01/15/2028  | 7000 | 7060 |
| **Omnis Funding Trust** <br>6.722% due 05/15/2055 | 10000 | 10411 |
| **OneAmerica Financial Partners, Inc.** <br>4.250% due 10/15/2050 | 5400 | 4149 |
| **Ontario Teachers' Cadillac Fairview Properties Trust** <br>3.875% due 03/20/2027 | 3900 | 3895 |
| **Pacific Life Insurance Co.**  |  |  |
| 5.950% due 09/15/2055  | 25100 | 25177 |
| 9.250% due 06/15/2039  | 63816 | 86869 |
| **Pacific LifeCorp** <br>3.350% due 09/15/2050 | 5700 | 3945 |
| **Panama Infrastructure Receivable Purchaser PLC** <br>0.000% due 04/05/2032 (e) | 17987 | 13889 |
| **Paychex, Inc.**  |  |  |
| 5.350% due 04/15/2032  | 700 | 725 |
| 5.600% due 04/15/2035  | 175 | 183 |
| **Penn Mutual Life Insurance Co.**  |  |  |
| 3.800% due 04/29/2061  | 40000 | 26668 |
| 7.625% due 06/15/2040  | 32535 | 37888 |
| **Pine Street Trust II** <br>5.568% due 02/15/2049 | 23800 | 22355 |
| **Pinnacol Assurance** <br>8.625% due 06/25/2034 «(k) | 24000 | 25940 |
| **Popular, Inc.** <br>7.250% due 03/13/2028 | 14700 | 15502 |
| **Progressive Corp.** <br>4.125% due 04/15/2047 | 1700 | 1411 |
| **Prologis Targeted U.S. Logistics Fund LP** <br>5.250% due 01/15/2035 | 3500 | 3563 |
| **Protective Life Global Funding**  |  |  |
| 5.432% due 01/14/2032  | 20000 | 20841 |
| 5.467% due 12/08/2028  | 2000 | 2075 |
| **Rayonier LP** <br>2.750% due 05/17/2031 | 7500 | 6765 |
| **Realty Income Corp.**  |  |  |
| 2.700% due 02/15/2032  | 11400 | 10297 |
| 3.200% due 02/15/2031  | 6700 | 6363 |
| 3.400% due 01/15/2028  | 1265 | 1252 |
| 3.400% due 01/15/2030  | 1725 | 1677 |
| 3.950% due 08/15/2027  | 3316 | 3318 |
| 4.450% due 09/15/2026  | 2350 | 2353 |
| **Regency Centers LP** <br>4.125% due 03/15/2028 | 1100 | 1103 |
| **Rexford Industrial Realty LP** <br>2.125% due 12/01/2030 | 11800 | 10571 |
| **RGA Global Funding**  |  |  |
| 5.250% due 01/09/2030  | 6900 | 7137 |
| 5.500% due 01/11/2031  | 4500 | 4684 |
| 6.000% due 11/21/2028  | 3000 | 3150 |
| **Royal Bank of Scotland International Ltd.** <br>4.660% due 12/16/2028 «(k) | 30000 | 29974 |
| **Sabra Health Care LP**  |  |  |
| 3.200% due 12/01/2031  | 7659 | 7019 |
| 3.900% due 10/15/2029  | 3368 | 3306 |
| **Sammons Financial Group, Inc.**  |  |  |
| 3.350% due 04/16/2031  | 18300 | 16981 |
| 6.875% due 04/15/2034  | 8000 | 8780 |
| **Santander Holdings USA, Inc.**  |  |  |
| 4.400% due 07/13/2027  | 3080 | 3090 |
| 5.473% due 03/20/2029 •  | 4100 | 4191 |
| 5.741% due 03/20/2031 •  | 3200 | 3316 |
| **Santander U.K. Group Holdings PLC**  |  |  |
| 2.896% due 03/15/2032 •  | 17160 | 15768 |
| 3.823% due 11/03/2028 •  | 47925 | 47624 |
| 4.858% due 09/11/2030 •  | 5680 | 5753 |
| 5.694% due 04/15/2031 •  | 8900 | 9284 |
| **SBA Tower Trust** <br>2.328% due 07/15/2052 | 10300 | 9902 |
| **SBL Holdings, Inc.** <br>7.200% due 10/30/2034 | 2000 | 1938 |
| **Selective Insurance Group, Inc.**  |  |  |
| 5.375% due 03/01/2049  | 8800 | 8153 |
| 5.900% due 04/15/2035  | 600 | 630 |
| **Sixth Street Lending Partners** <br>5.750% due 01/15/2030 | 11300 | 11457 |
| **SMBC Aviation Capital Finance DAC** <br>2.300% due 06/15/2028 | 4200 | 4018 |
| **Societe Generale SA** <br>6.221% due 06/15/2033 •(m) | 10500 | 11033 |
| **Standard Chartered PLC** <br>3.265% due 02/18/2036 •  | 15500 | 14361 |
| **Stifel Financial Corp.** <br>4.000% due 05/15/2030 | 5600 | 5489 |
| **Store Capital LLC**  |  |  |
| 2.750% due 11/18/2030  | 1900 | 1733 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 5.400% due 04/30/2030  | 5000 | 5100 |
| **Sumitomo Life Insurance Co.** <br>3.375% due 04/15/2081 •  | 16300 | 15298 |
| **Sumitomo Mitsui Financial Group, Inc.**  |  |  |
| 2.130% due 07/08/2030  | 37100 | 33814 |
| 3.040% due 07/16/2029  | 7000 | 6728 |
| 5.424% due 07/09/2031  | 34930 | 36570 |
| 5.558% due 07/09/2034  | 20100 | 21177 |
| 5.710% due 01/13/2030  | 14600 | 15391 |
| 5.808% due 09/14/2033 (m)  | 6800 | 7300 |
| **Sun Communities Operating LP** <br>2.700% due 07/15/2031 | 6800 | 6183 |
| **Svenska Handelsbanken AB** <br>4.750% due 03/01/2031 •(h)(i)(m) | 6000 | 5714 |
| **Teachers Insurance & Annuity Association of America**  |  |  |
| 3.300% due 05/15/2050  | 30000 | 20626 |
| 4.270% due 05/15/2047  | 11300 | 9290 |
| 4.900% due 09/15/2044  | 18400 | 16730 |
| 6.850% due 12/16/2039  | 5129 | 5891 |
| **Tesco Property Finance 2 PLC** <br>6.052% due 10/13/2039 | 273 | 382 |
| **Toronto-Dominion Bank** <br>8.125% due 10/31/2082 •(i) | $20000 | 21107 |
| **Transatlantic Holdings, Inc.** <br>8.000% due 11/30/2039 | 7933 | 9934 |
| **Travelers Cos., Inc.** <br>4.050% due 03/07/2048 | 4000 | 3265 |
| **Truist Financial Corp.** <br>6.123% due 10/28/2033 •  | 12000 | 12995 |
| **Trust 2401**  |  |  |
| 6.390% due 01/15/2050  | 15582 | 15028 |
| 6.950% due 01/30/2044  | 19828 | 20734 |
| 7.375% due 02/13/2034  | 2066 | 2294 |
| **Trust Fibra Uno**  |  |  |
| 6.390% due 01/15/2050  | 7918 | 7505 |
| 6.950% due 01/30/2044  | 5442 | 5514 |
| 7.375% due 02/13/2034  | 834 | 914 |
| **Trustage Financial Group, Inc.** <br>4.625% due 04/15/2032 | 54700 | 52874 |
| **UBS Group AG**  |  |  |
| 2.746% due 02/11/2033 •  | 10900 | 9780 |
| 3.091% due 05/14/2032 •  | 57529 | 53436 |
| 3.179% due 02/11/2043 •  | 1100 | 836 |
| 3.869% due 01/12/2029 •  | 6450 | 6416 |
| 4.125% due 04/15/2026  | 34600 | 34618 |
| 4.151% due 12/23/2029 •  | 21400 | 21381 |
| 4.194% due 04/01/2031 •  | 2250 | 2229 |
| 4.282% due 01/09/2028  | 13400 | 13422 |
| 4.550% due 04/17/2026  | 13000 | 13023 |
| 4.875% due 02/12/2027 •(h)(i)  | 7400 | 7360 |
| 4.988% due 08/05/2033 •  | 5000 | 5077 |
| 5.379% due 09/06/2045 •  | 15000 | 14724 |
| 5.617% due 09/13/2030 •  | 1200 | 1254 |
| 5.699% due 02/08/2035 •  | 11400 | 11993 |
| 5.959% due 01/12/2034 •  | 40000 | 42641 |
| 6.301% due 09/22/2034 •  | 12900 | 14089 |
| 6.600% due 08/05/2030 •(h)(i)  | 15000 | 15292 |
| 6.850% due 09/10/2029 •(h)(i)  | 8500 | 8726 |
| 7.000% due 02/10/2030 •(h)(i)  | 17000 | 17443 |
| 7.125% due 08/10/2034 •(h)(i)  | 7700 | 7895 |
| 9.250% due 11/13/2028 •(h)(i)  | 19900 | 21894 |
| 9.250% due 11/13/2033 •(h)(i)  | 7000 | 8213 |
| **UDR, Inc.** <br>3.500% due 07/01/2027 | 3323 | 3297 |
| **Unum Group**  |  |  |
| 4.046% due 08/15/2041  | 15000 | 12193 |
| 6.000% due 06/15/2054  | 3800 | 3773 |
| **VICI Properties LP**  |  |  |
| 4.750% due 04/01/2028  | 1200 | 1213 |
| 5.125% due 11/15/2031  | 3200 | 3243 |
| 5.125% due 05/15/2032  | 11100 | 11180 |
| 5.625% due 04/01/2035  | 11500 | 11749 |
| 5.625% due 05/15/2052  | 24400 | 22836 |
| 5.750% due 04/01/2034  | 2400 | 2478 |
| 6.125% due 04/01/2054  | 4000 | 3990 |
| **VICI Properties LP/VICI Note Co., Inc.** <br>4.125% due 08/15/2030 | 5073 | 4922 |
| **Visa, Inc.**  |  |  |
| 2.000% due 08/15/2050  | 1907 | 1036 |
| 4.300% due 12/14/2045  | 1100 | 961 |
| **Voya Financial, Inc.**  |  |  |
| 4.700% due 01/23/2048 •  | 6800 | 6457 |
| 5.000% due 09/20/2034  | 5200 | 5175 |
| **W.R. Berkley Corp.** <br>4.000% due 05/12/2050 | 4900 | 3750 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Wells Fargo & Co.**  |  |  |
| 2.393% due 06/02/2028 •  | 9300 | 9090 |
| 2.572% due 02/11/2031 •  | 16817 | 15713 |
| 2.879% due 10/30/2030 •  | 30900 | 29405 |
| 3.000% due 04/22/2026  | 2000 | 1995 |
| 3.584% due 05/22/2028 •  | 21300 | 21167 |
| 4.611% due 04/25/2053 •  | 64700 | 55714 |
| 4.892% due 09/15/2036 •  | 23200 | 23136 |
| 4.982% (SOFRRATE + 1.070%) due 04/22/2028 ~  | 13700 | 13780 |
| 5.211% due 12/03/2035 •  | 47750 | 48800 |
| 5.557% due 07/25/2034 •  | 63737 | 66858 |
| **Wells Fargo Bank NA** <br>6.600% due 01/15/2038 | 10000 | 11173 |
| **Welltower OP LLC**  |  |  |
| 4.500% due 07/01/2030  | 11500 | 11633 |
| 5.125% due 07/01/2035  | 11700 | 11945 |
| 6.500% due 03/15/2041  | 29850 | 33355 |
| **Weyerhaeuser Co.**  |  |  |
| 6.875% due 12/15/2033  | 14477 | 16168 |
| 6.950% due 10/01/2027  | 4500 | 4723 |
| 7.375% due 03/15/2032  | 39647 | 45182 |
| **Willis North America, Inc.**  |  |  |
| 3.875% due 09/15/2049  | 13550 | 10101 |
| 5.350% due 05/15/2033  | 3944 | 4069 |
|  |  | 7521710 |
| **INDUSTRIALS 30.2%**  |  |  |
| **180 Medical, Inc.** <br>5.300% due 10/08/2035 | 3100 | 3097 |
| **7-Eleven, Inc.** <br>2.800% due 02/10/2051 | 15352 | 9359 |
| **Abbott Laboratories** <br>4.900% due 11/30/2046 | 1100 | 1036 |
| **AbbVie, Inc.**  |  |  |
| 4.250% due 11/21/2049  | 8499 | 7005 |
| 4.300% due 05/14/2036  | 19258 | 18485 |
| 4.400% due 11/06/2042  | 40050 | 35656 |
| 4.450% due 05/14/2046  | 33985 | 29583 |
| 4.500% due 05/14/2035  | 20877 | 20501 |
| 4.700% due 05/14/2045  | 13300 | 12035 |
| 4.850% due 06/15/2044  | 36900 | 34199 |
| 5.200% due 03/15/2035  | 11103 | 11501 |
| 5.400% due 03/15/2054  | 4600 | 4476 |
| 5.500% due 03/15/2064  | 7800 | 7582 |
| 5.600% due 03/15/2055  | 14000 | 14042 |
| **Abu Dhabi Crude Oil Pipeline LLC** <br>4.600% due 11/02/2047 | 7900 | 7352 |
| **Adani Electricity Mumbai Ltd.** <br>3.949% due 02/12/2030 | 4185 | 3901 |
| **Adnoc Murban Rsc Ltd.** <br>5.125% due 09/11/2054 | 17500 | 16479 |
| **Advocate Health & Hospitals Corp.** <br>2.211% due 06/15/2030 | 11150 | 10285 |
| **AEP Transmission Co. LLC**  |  |  |
| 2.750% due 08/15/2051  | 5402 | 3345 |
| 3.150% due 09/15/2049  | 6000 | 4080 |
| 3.650% due 04/01/2050  | 2700 | 2013 |
| 4.250% due 09/15/2048  | 1474 | 1218 |
| 5.400% due 03/15/2053  | 10300 | 10026 |
| **Aeroporti di Roma SpA** <br>1.750% due 07/30/2031 | 4600 | 4994 |
| **Aetna, Inc.** <br>4.750% due 03/15/2044 | $50 | 44 |
| **Air Canada Pass-Through Trust** <br>5.250% due 10/01/2030 | 4047 | 4142 |
| **Aker BP ASA** <br>5.800% due 10/01/2054 | 9900 | 9011 |
| **Alaska Airlines Pass-Through Trust** <br>4.800% due 02/15/2029 (m) | 12040 | 12118 |
| **Alcon Finance Corp.** <br>3.000% due 09/23/2029 | 500 | 480 |
| **Alphabet, Inc.**  |  |  |
| 1.900% due 08/15/2040  | 370 | 251 |
| 5.250% due 05/15/2055  | 2435 | 2334 |
| 5.300% due 05/15/2065  | 175 | 165 |
| 5.450% due 11/15/2055  | 150 | 147 |
| **Amazon.com, Inc.**  |  |  |
| 2.700% due 06/03/2060  | 2769 | 1569 |
| 3.100% due 05/12/2051  | 18352 | 12335 |
| 3.250% due 05/12/2061  | 40500 | 25934 |
| 4.100% due 04/13/2062  | 10000 | 7731 |
| 4.250% due 08/22/2057  | 19550 | 15690 |
| **American Airlines Pass-Through Trust**  |  |  |
| 2.875% due 01/11/2036  | 17790 | 16295 |
| 3.000% due 04/15/2030  | 402 | 389 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 3.150% due 08/15/2033  | 6065 | 5745 |
| 3.200% due 12/15/2029  | 5071 | 4963 |
| 3.350% due 04/15/2031  | 2970 | 2887 |
| 3.375% due 11/01/2028  | 4930 | 4870 |
| 3.500% due 08/15/2033  | 2736 | 2532 |
| 3.575% due 07/15/2029  | 5662 | 5607 |
| 3.600% due 03/22/2029  | 5574 | 5524 |
| 3.600% due 04/15/2031  | 2290 | 2186 |
| 3.650% due 08/15/2030  | 1892 | 1861 |
| 3.700% due 04/01/2028  | 4808 | 4790 |
| 4.900% due 11/11/2039  | 8100 | 8065 |
| **American Medical Systems Europe BV** <br>3.000% due 03/08/2031 | 5600 | 6535 |
| **Amgen, Inc.**  |  |  |
| 2.800% due 08/15/2041  | $3700 | 2711 |
| 3.375% due 02/21/2050  | 4515 | 3226 |
| 4.563% due 06/15/2048  | 900 | 770 |
| 4.663% due 06/15/2051  | 144713 | 123946 |
| 4.875% due 03/01/2053  | 800 | 705 |
| 4.950% due 10/01/2041  | 4650 | 4413 |
| 5.250% due 03/02/2033  | 27506 | 28481 |
| 5.600% due 03/02/2043  | 8792 | 8848 |
| 5.650% due 03/02/2053  | 41710 | 40871 |
| 5.750% due 03/02/2063  | 35965 | 35120 |
| **Amrize Finance U.S. LLC** <br>4.750% due 09/22/2046 | 2400 | 2120 |
| **AngloGold Ashanti Holdings PLC** <br>3.375% due 11/01/2028 | 9100 | 8832 |
| **Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.**  |  |  |
| 4.700% due 02/01/2036  | 82434 | 81629 |
| 4.900% due 02/01/2046  | 105682 | 97805 |
| **Anheuser-Busch InBev Finance, Inc.** <br>4.900% due 02/01/2046 | 320 | 296 |
| **Anheuser-Busch InBev Worldwide, Inc.**  |  |  |
| 4.950% due 01/15/2042  | 2250 | 2153 |
| 5.450% due 01/23/2039  | 3150 | 3265 |
| 5.800% due 01/23/2059  | 27101 | 27735 |
| **Apple, Inc.**  |  |  |
| 2.650% due 05/11/2050  | 240 | 150 |
| 2.700% due 08/05/2051  | 175 | 109 |
| 2.800% due 02/08/2061  | 7205 | 4245 |
| 2.850% due 08/05/2061  | 7900 | 4667 |
| 2.950% due 09/11/2049  | 20600 | 13781 |
| 3.450% due 02/09/2045  | 1480 | 1149 |
| 3.750% due 09/12/2047  | 21600 | 17085 |
| 3.850% due 05/04/2043  | 800 | 677 |
| 3.850% due 08/04/2046  | 53395 | 43323 |
| 4.850% due 05/10/2053 (m)  | 6550 | 6197 |
| **Aptiv Swiss Holdings Ltd.** <br>5.400% due 03/15/2049 | 10000 | 9212 |
| **Arrow Electronics, Inc.** <br>2.950% due 02/15/2032 | 600 | 537 |
| **Ashtead Capital, Inc.** <br>5.800% due 04/15/2034 | 14400 | 15106 |
| **Astrazeneca Finance LLC** <br>5.000% due 02/26/2034 | 20288 | 21005 |
| **AstraZeneca PLC** <br>4.375% due 11/16/2045 | 1400 | 1236 |
| **Bacardi Ltd.**  |  |  |
| 5.150% due 05/15/2038  | 22540 | 21458 |
| 5.300% due 05/15/2048  | 20975 | 18692 |
| **Baptist Healthcare System Obligated Group** <br>3.540% due 08/15/2050 | 15000 | 10722 |
| **Barrick North America Finance LLC** <br>5.700% due 05/30/2041 | 4768 | 4866 |
| **Baxter International, Inc.** <br>5.650% due 12/15/2035 | 10000 | 10124 |
| **Bayer U.S. Finance II LLC**  |  |  |
| 4.200% due 07/15/2034  | 14484 | 13615 |
| 4.375% due 12/15/2028  | 5700 | 5707 |
| 4.400% due 07/15/2044  | 4000 | 3239 |
| 4.625% due 06/25/2038  | 2400 | 2199 |
| 4.875% due 06/25/2048  | 24000 | 20445 |
| **Bayer U.S. Finance LLC**  |  |  |
| 6.250% due 01/21/2029  | 400 | 421 |
| 6.375% due 11/21/2030  | 24305 | 25995 |
| 6.500% due 11/21/2033  | 21900 | 23717 |
| 6.875% due 11/21/2053 (m)  | 8900 | 9644 |
| **Becton Dickinson & Co.**  |  |  |
| 3.794% due 05/20/2050  | 17200 | 12892 |
| 5.110% due 02/08/2034  | 6646 | 6797 |
| **Becton Dickinson Euro Finance SARL** <br>4.029% due 06/07/2036 | 6200 | 7339 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | $250370 | 264743 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Beth Israel Lahey Health, Inc.** <br>3.080% due 07/01/2051 | 14000 | 9218 |
| **Bio-Rad Laboratories, Inc.** <br>3.700% due 03/15/2032 | 5222 | 4932 |
| **Block, Inc.** <br>6.000% due 08/15/2033 | 800 | 822 |
| **BMS Ireland Capital Funding DAC** <br>4.581% due 11/10/2055 | 5000 | 5743 |
| **BMW U.S. Capital LLC**  |  |  |
| 4.500% due 08/11/2030  | $6000 | 6032 |
| 4.505% (SOFRINDX + 0.780%) due 03/19/2027 ~  | 3300 | 3314 |
| 4.645% (SOFRINDX + 0.920%) due 03/21/2028 ~  | 6000 | 6030 |
| **Boeing Co.**  |  |  |
| 3.250% due 02/01/2035  | 1755 | 1540 |
| 3.600% due 05/01/2034  | 8470 | 7711 |
| 3.625% due 02/01/2031  | 1240 | 1192 |
| 3.650% due 03/01/2047  | 1945 | 1422 |
| 3.750% due 02/01/2050  | 2000 | 1456 |
| 3.825% due 03/01/2059  | 4515 | 3138 |
| 3.950% due 08/01/2059  | 9500 | 6752 |
| 5.040% due 05/01/2027  | 8000 | 8085 |
| 5.705% due 05/01/2040  | 63800 | 65185 |
| 5.805% due 05/01/2050  | 115490 | 113767 |
| 5.930% due 05/01/2060  | 107175 | 105232 |
| 6.259% due 05/01/2027  | 3600 | 3695 |
| 6.528% due 05/01/2034  | 14500 | 16047 |
| 6.858% due 05/01/2054  | 360 | 405 |
| 7.008% due 05/01/2064  | 2000 | 2281 |
| **Booz Allen Hamilton, Inc.**  |  |  |
| 5.950% due 08/04/2033  | 5900 | 6150 |
| 5.950% due 04/15/2035  | 4100 | 4251 |
| **Boston Scientific Corp.**  |  |  |
| 6.250% due 11/15/2035  | 36000 | 40432 |
| 7.375% due 01/15/2040  | 41000 | 50637 |
| **BP Capital Markets America, Inc.** <br>4.893% due 09/11/2033 | 58403 | 59435 |
| **Bristol-Myers Squibb Co.**  |  |  |
| 3.700% due 03/15/2052  | 8400 | 6177 |
| 4.250% due 10/26/2049  | 9728 | 7957 |
| 4.350% due 11/15/2047  | 2884 | 2448 |
| 5.550% due 02/22/2054  | 10800 | 10614 |
| **British Airways Pass-Through Trust**  |  |  |
| 3.300% due 06/15/2034  | 16507 | 15620 |
| 3.350% due 12/15/2030  | 980 | 954 |
| **Broadcom, Inc.**  |  |  |
| 2.600% due 02/15/2033  | 42501 | 37500 |
| 3.137% due 11/15/2035  | 57112 | 49204 |
| 3.419% due 04/15/2033  | 22730 | 21047 |
| 3.469% due 04/15/2034  | 52213 | 47627 |
| 3.500% due 02/15/2041  | 22400 | 18240 |
| 4.150% due 11/15/2030  | 826 | 823 |
| 4.150% due 04/15/2032  | 44100 | 43193 |
| 4.300% due 11/15/2032  | 21082 | 20808 |
| 5.150% due 11/15/2031  | 100 | 104 |
| 5.200% due 04/15/2032  | 10000 | 10385 |
| **Burlington Northern Santa Fe LLC**  |  |  |
| 4.450% due 03/15/2043  | 27000 | 24084 |
| 4.450% due 01/15/2053  | 4909 | 4142 |
| 5.200% due 04/15/2054  | 42483 | 40034 |
| 5.500% due 03/15/2055  | 11700 | 11551 |
| **Cameron LNG LLC**  |  |  |
| 3.402% due 01/15/2038  | 26700 | 23243 |
| 3.701% due 01/15/2039  | 1430 | 1222 |
| **Canadian Pacific Railway Co.**  |  |  |
| 3.000% due 12/02/2041  | 12500 | 9377 |
| 4.300% due 05/15/2043  | 5000 | 4352 |
| 4.700% due 05/01/2048  | 15900 | 14087 |
| 4.950% due 08/15/2045  | 24795 | 23211 |
| 6.125% due 09/15/2115  | 51558 | 51472 |
| **CDW LLC/CDW Finance Corp.**  |  |  |
| 3.569% due 12/01/2031  | 11800 | 10997 |
| 5.550% due 08/22/2034  | 16600 | 16929 |
| **Cenovus Energy, Inc.**  |  |  |
| 4.650% due 03/20/2031  | 558 | 556 |
| 5.400% due 03/20/2036  | 483 | 483 |
| **Centene Corp.**  |  |  |
| 2.450% due 07/15/2028  | 25913 | 24284 |
| 2.500% due 03/01/2031  | 3670 | 3171 |
| 2.625% due 08/01/2031  | 1100 | 947 |
| 3.000% due 10/15/2030  | 5000 | 4477 |
| 3.375% due 02/15/2030  | 700 | 645 |
| 4.625% due 12/15/2029  | 4563 | 4429 |
| **CF Industries, Inc.** <br>5.150% due 03/15/2034 | 19966 | 20068 |
| **Charter Communications Operating LLC/Charter Communications Operating Capital**  |  |  |
| 3.500% due 06/01/2041  | 15877 | 11307 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 3.500% due 03/01/2042  | 12700 | 8827 |
| 3.700% due 04/01/2051  | 7085 | 4477 |
| 3.850% due 04/01/2061  | 94400 | 56336 |
| 3.900% due 06/01/2052  | 22775 | 14720 |
| 4.400% due 12/01/2061  | 65700 | 43015 |
| 4.800% due 03/01/2050  | 36900 | 27746 |
| 5.050% due 03/30/2029  | 8 | 8 |
| 5.125% due 07/01/2049  | 39500 | 30942 |
| 5.250% due 04/01/2053  | 24971 | 19782 |
| 5.850% due 12/01/2035 (m)  | 11100 | 11078 |
| 6.484% due 10/23/2045  | 19 | 18 |
| 6.700% due 12/01/2055  | 7200 | 6909 |
| **Cheniere Corpus Christi Holdings LLC**  |  |  |
| 2.742% due 12/31/2039  | 21010 | 17968 |
| 3.700% due 11/15/2029  | 5000 | 4886 |
| **Cheniere Energy Partners LP**  |  |  |
| 5.550% due 10/30/2035  | 13600 | 13912 |
| 5.750% due 08/15/2034  | 17680 | 18469 |
| 5.950% due 06/30/2033  | 16975 | 18007 |
| **Cheniere Energy, Inc.** <br>5.650% due 04/15/2034 | 8900 | 9237 |
| **Cigna Group**  |  |  |
| 5.250% due 01/15/2036  | 11500 | 11715 |
| 6.000% due 01/15/2056  | 1600 | 1646 |
| **Coca-Cola Co.**  |  |  |
| 2.500% due 06/01/2040  | 500 | 372 |
| 2.500% due 03/15/2051  | 12860 | 7720 |
| 5.300% due 05/13/2054  | 1000 | 982 |
| 5.400% due 05/13/2064  | 975 | 949 |
| **Colorado Interstate Gas Co. LLC** <br>6.850% due 06/15/2037 | 10900 | 12117 |
| **Comcast Corp.**  |  |  |
| 2.650% due 08/15/2062  | 18400 | 9282 |
| 2.800% due 01/15/2051  | 250 | 145 |
| 2.887% due 11/01/2051  | 1879 | 1100 |
| 2.937% due 11/01/2056  | 127118 | 71507 |
| 3.200% due 07/15/2036  | 275 | 235 |
| 3.450% due 02/01/2050  | 20000 | 13429 |
| 3.969% due 11/01/2047  | 34422 | 25813 |
| 3.999% due 11/01/2049  | 98621 | 72812 |
| 4.000% due 03/01/2048  | 12260 | 9247 |
| 5.350% due 05/15/2053  | 346 | 311 |
| 5.500% due 05/15/2064  | 169 | 151 |
| **CommonSpirit Health**  |  |  |
| 3.347% due 10/01/2029  | 10000 | 9677 |
| 4.187% due 10/01/2049  | 2100 | 1652 |
| 4.975% due 09/01/2035  | 9300 | 9194 |
| 5.580% due 09/01/2045  | 3600 | 3522 |
| 5.662% due 09/01/2055  | 3900 | 3772 |
| **Conagra Brands, Inc.**  |  |  |
| 5.000% due 08/01/2030  | 2200 | 2227 |
| 5.750% due 08/01/2035  | 10100 | 10319 |
| **Constellation Brands, Inc.**  |  |  |
| 4.100% due 02/15/2048  | 12200 | 9636 |
| 4.500% due 05/09/2047  | 8100 | 6780 |
| 4.750% due 05/09/2032  | 2661 | 2674 |
| **Constellation Pharmaceutical, Inc.** <br>5.550% due 07/01/2033 «(k) | 9694 | 10074 |
| **Cox Communications, Inc.**  |  |  |
| 4.500% due 06/30/2043  | 21841 | 16833 |
| 4.700% due 12/15/2042  | 4070 | 3250 |
| 4.800% due 02/01/2035  | 13000 | 12130 |
| 5.800% due 12/15/2053  | 19854 | 17004 |
| **CSL Finance PLC**  |  |  |
| 4.750% due 04/27/2052  | 12170 | 10506 |
| 4.950% due 04/27/2062  | 9200 | 7968 |
| **CVS Health Corp.**  |  |  |
| 3.750% due 04/01/2030  | 4375 | 4274 |
| 4.125% due 04/01/2040  | 4543 | 3887 |
| 5.050% due 03/25/2048  | 43400 | 38283 |
| 5.125% due 07/20/2045  | 33485 | 30313 |
| 5.250% due 02/21/2033  | 3000 | 3090 |
| 5.300% due 12/05/2043  | 7100 | 6638 |
| 5.450% due 09/15/2035  | 13800 | 14131 |
| 5.625% due 02/21/2053  | 18200 | 17103 |
| 5.875% due 06/01/2053  | 4600 | 4470 |
| 6.000% due 06/01/2063  | 2200 | 2134 |
| 6.050% due 06/01/2054  | 500 | 497 |
| 6.200% due 09/15/2055  | 12244 | 12440 |
| 6.250% due 09/15/2065  | 23500 | 23671 |
| **CVS Pass-Through Trust**  |  |  |
| 4.163% due 08/11/2036  | 6693 | 6254 |
| 5.773% due 01/10/2033  | 759 | 774 |
| 5.880% due 01/10/2028  | 967 | 975 |
| 5.926% due 01/10/2034  | 18571 | 19052 |
| 6.036% due 12/10/2028  | 542 | 547 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 6.943% due 01/10/2030  | 13994 | 14525 |
| 7.507% due 01/10/2032  | 43584 | 46271 |
| 8.353% due 07/10/2031  | 8035 | 8751 |
| **Daimler Truck Finance North America LLC**  |  |  |
| 2.375% due 12/14/2028  | 7000 | 6661 |
| 2.500% due 12/14/2031  | 4204 | 3755 |
| **DCP Midstream Operating LP** <br>3.250% due 02/15/2032 | 5612 | 5162 |
| **Dell International LLC/EMC Corp.**  |  |  |
| 4.900% due 10/01/2026  | 13398 | 13462 |
| 5.300% due 10/01/2029  | 10487 | 10827 |
| 6.020% due 06/15/2026  | 4729 | 4750 |
| 8.100% due 07/15/2036  | 129 | 156 |
| **Delta Air Lines, Inc.** <br>3.750% due 10/28/2029 | 26563 | 26017 |
| **Delta Air Lines, Inc./SkyMiles IP Ltd.** <br>4.750% due 10/20/2028 | 2150 | 2163 |
| **Devon Energy Corp.**  |  |  |
| 5.750% due 09/15/2054  | 2000 | 1839 |
| 7.950% due 04/15/2032  | 5535 | 6460 |
| **Diamondback Energy, Inc.**  |  |  |
| 4.250% due 03/15/2052  | 7000 | 5477 |
| 5.550% due 04/01/2035  | 11155 | 11470 |
| 5.750% due 04/18/2054  | 14015 | 13259 |
| 5.900% due 04/18/2064  | 2871 | 2713 |
| **DT Midstream, Inc.**  |  |  |
| 4.300% due 04/15/2032  | 17400 | 16831 |
| 5.800% due 12/15/2034  | 5984 | 6214 |
| **Eastern Energy Gas Holdings LLC**  |  |  |
| 5.650% due 10/15/2054  | 7200 | 6971 |
| 6.200% due 01/15/2055  | 5000 | 5192 |
| **Eastern Gas Transmission & Storage, Inc.**  |  |  |
| 4.600% due 12/15/2044  | 4115 | 3546 |
| 4.800% due 11/01/2043  | 800 | 709 |
| **Ecopetrol SA** <br>7.375% due 09/18/2043 (m) | 25700 | 23580 |
| **El Paso Natural Gas Co. LLC**  |  |  |
| 3.500% due 02/15/2032  | 9802 | 9133 |
| 8.375% due 06/15/2032  | 25670 | 30884 |
| **Elevance Health, Inc.**  |  |  |
| 3.600% due 03/15/2051  | 1350 | 966 |
| 3.700% due 09/15/2049  | 5640 | 4169 |
| 4.375% due 12/01/2047  | 29000 | 24095 |
| 4.550% due 03/01/2048  | 7500 | 6400 |
| 4.550% due 05/15/2052  | 12100 | 10078 |
| 4.625% due 05/15/2042  | 7700 | 6952 |
| 5.100% due 01/15/2044  | 13244 | 12526 |
| 5.125% due 02/15/2053  | 2000 | 1813 |
| 5.200% due 02/15/2035  | 7700 | 7871 |
| 5.700% due 02/15/2055  | 2200 | 2151 |
| 5.850% due 11/01/2064  | 10000 | 9827 |
| 6.100% due 10/15/2052  | 1900 | 1967 |
| **Eli Lilly & Co.**  |  |  |
| 4.600% due 08/14/2034  | 126 | 126 |
| 5.050% due 08/14/2054  | 47815 | 44820 |
| 5.200% due 08/14/2064  | 2600 | 2458 |
| **Embotelladora Andina SA** <br>3.950% due 01/21/2050 (m) | 3600 | 2850 |
| **Enbridge Energy Partners LP**  |  |  |
| 5.500% due 09/15/2040  | 3000 | 2985 |
| 7.375% due 10/15/2045  | 19892 | 23119 |
| **Enbridge, Inc.**  |  |  |
| 2.500% due 08/01/2033  | 18906 | 16256 |
| 3.400% due 08/01/2051  | 29500 | 20269 |
| 4.500% due 06/10/2044  | 10948 | 9318 |
| 5.625% due 04/05/2034  | 7283 | 7617 |
| 5.700% due 03/08/2033 (m)  | 36914 | 38900 |
| 5.950% due 04/05/2054  | 3800 | 3849 |
| 6.700% due 11/15/2053  | 21984 | 24151 |
| **Energy Transfer LP**  |  |  |
| 4.950% due 01/15/2043  | 27800 | 24449 |
| 5.000% due 05/15/2044  | 44517 | 38764 |
| 5.000% due 05/15/2050  | 9876 | 8272 |
| 5.150% due 02/01/2043  | 26785 | 24209 |
| 5.150% due 03/15/2045  | 42386 | 37504 |
| 5.300% due 04/15/2047  | 22750 | 20252 |
| 5.400% due 10/01/2047  | 5038 | 4532 |
| 5.550% due 05/15/2034  | 6850 | 7050 |
| 5.950% due 05/15/2054  | 13159 | 12497 |
| 6.000% due 06/15/2048  | 600 | 583 |
| 6.125% due 12/15/2045  | 23548 | 23139 |
| 6.250% due 04/15/2049  | 1059 | 1050 |
| **Eni SpA**  |  |  |
| 5.500% due 05/15/2034  | 3200 | 3299 |
| 5.950% due 05/15/2054  | 17900 | 17767 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Entergy Louisiana LLC**  |  |  |
| 2.900% due 03/15/2051  | 8400 | 5291 |
| 3.100% due 06/15/2041  | 14600 | 11143 |
| 4.200% due 09/01/2048  | 7555 | 6112 |
| 4.750% due 09/15/2052  | 15800 | 13829 |
| 5.000% due 07/15/2044  | 4300 | 3903 |
| 5.150% due 09/15/2034  | 2475 | 2531 |
| 5.700% due 03/15/2054  | 4500 | 4489 |
| **Enterprise Products Operating LLC**  |  |  |
| 4.200% due 01/31/2050  | 10062 | 8079 |
| 4.450% due 02/15/2043  | 77985 | 68660 |
| 4.800% due 02/01/2049  | 2675 | 2359 |
| 4.850% due 08/15/2042  | 11300 | 10488 |
| 4.850% due 03/15/2044  | 32362 | 29565 |
| 4.950% due 02/15/2035  | 1695 | 1715 |
| 5.100% due 02/15/2045  | 31665 | 29745 |
| 5.200% due 01/15/2036  | 17300 | 17621 |
| 5.550% due 02/16/2055  | 4950 | 4801 |
| 5.750% due 03/01/2035  | 13761 | 14506 |
| 7.099% (TSFR3M + 3.248%) due 08/16/2077 ~  | 8000 | 8001 |
| **Equinor ASA** <br>3.250% due 11/18/2049 | 5000 | 3491 |
| **Essent Group Ltd.** <br>6.250% due 07/01/2029 | 2600 | 2716 |
| **Expand Energy Corp.** <br>5.700% due 01/15/2035 | 3575 | 3701 |
| **FactSet Research Systems, Inc.** <br>3.450% due 03/01/2032 | 5000 | 4648 |
| **FedEx Corp.** <br>5.100% due 01/15/2044 | 10877 | 9938 |
| **Ferguson Enterprises, Inc.** <br>5.000% due 10/03/2034 | 2800 | 2827 |
| **FirstEnergy Pennsylvania Electric Co.**  |  |  |
| 4.300% due 01/15/2029  | 700 | 701 |
| 6.150% due 10/01/2038  | 2409 | 2591 |
| **Fiserv, Inc.** <br>4.400% due 07/01/2049 | 11098 | 8726 |
| **Flex Intermediate Holdco LLC**  |  |  |
| 3.363% due 06/30/2031  | 6400 | 5899 |
| 4.317% due 12/30/2039  | 55500 | 46780 |
| **Flex Ltd.** <br>4.875% due 05/12/2030 | 15685 | 15936 |
| **Ford Foundation** <br>2.415% due 06/01/2050 | 3800 | 2272 |
| **Fox Corp.** <br>5.576% due 01/25/2049 (m) | 6452 | 6213 |
| **Freeport-McMoRan, Inc.**  |  |  |
| 5.400% due 11/14/2034  | 3020 | 3116 |
| 5.450% due 03/15/2043  | 1825 | 1768 |
| **Fresenius Medical Care U.S. Finance III, Inc.** <br>3.000% due 12/01/2031 | 24600 | 22192 |
| **Gartner, Inc.** <br>5.600% due 11/20/2035 | 10100 | 10079 |
| **GE Capital Funding LLC** <br>4.550% due 05/15/2032 | 9751 | 9855 |
| **GE HealthCare Technologies, Inc.** <br>5.500% due 06/15/2035 | 600 | 624 |
| **Georgetown University** <br>5.115% due 04/01/2053 | 3300 | 3061 |
| **Glencore Finance Canada Ltd.**  |  |  |
| 5.550% due 10/25/2042  | 8730 | 8476 |
| 6.900% due 11/15/2037  | 100 | 113 |
| **Glencore Finance Europe Ltd.** <br>3.125% due 03/26/2026 | 500 | 672 |
| **Global Payments, Inc.**  |  |  |
| 4.150% due 08/15/2049  | $4400 | 3287 |
| 5.550% due 11/15/2035  | 15000 | 14915 |
| **GNL Quintero SA** <br>4.634% due 07/31/2029 | 2354 | 2357 |
| **Greensaif Pipelines Bidco SARL**  |  |  |
| 5.853% due 02/23/2036  | 4600 | 4818 |
| 6.103% due 08/23/2042  | 6000 | 6260 |
| 6.129% due 02/23/2038  | 2600 | 2765 |
| 6.510% due 02/23/2042  | 10700 | 11699 |
| **Haleon U.S. Capital LLC**  |  |  |
| 3.625% due 03/24/2032  | 3700 | 3525 |
| 4.000% due 03/24/2052  | 3053 | 2408 |
| **Harbour Energy PLC** <br>6.327% due 04/01/2035 | 15500 | 15704 |
| **Hasbro, Inc.** <br>3.900% due 11/19/2029 | 1 | 1 |
| **HCA, Inc.**  |  |  |
| 3.500% due 07/15/2051  | 23264 | 15831 |
| 3.625% due 03/15/2032  | 17875 | 16905 |
| 4.300% due 11/15/2030  | 1200 | 1196 |
| 4.625% due 03/15/2052  | 39825 | 32546 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 5.250% due 06/15/2049  | 11000 | 9952 |
| 5.450% due 09/15/2034  | 4900 | 5046 |
| 5.500% due 06/01/2033  | 850 | 885 |
| 5.500% due 06/15/2047  | 26202 | 24797 |
| 5.750% due 03/01/2035  | 14400 | 15122 |
| 5.900% due 06/01/2053  | 5300 | 5195 |
| 5.950% due 09/15/2054  | 10000 | 9899 |
| 6.000% due 04/01/2054  | 10520 | 10470 |
| 6.100% due 04/01/2064  | 5200 | 5158 |
| 6.200% due 03/01/2055  | 11000 | 11218 |
| **Heathrow Funding Ltd.** <br>6.450% due 12/10/2033 | 900 | 1306 |
| **Heineken NV** <br>4.350% due 03/29/2047 | $7848 | 6580 |
| **Hess Corp.** <br>5.600% due 02/15/2041 | 1000 | 1036 |
| **Hoag Memorial Hospital Presbyterian** <br>3.803% due 07/15/2052 | 8800 | 6706 |
| **Holcim Sterling Finance Netherlands BV** <br>2.250% due 04/04/2034 | 5200 | 5712 |
| **Home Depot, Inc.**  |  |  |
| 4.200% due 04/01/2043  | $304 | 265 |
| 4.250% due 04/01/2046  | 401 | 340 |
| **Honeywell International, Inc.** <br>5.250% due 03/01/2054 | 120 | 114 |
| **Humana, Inc.** <br>8.150% due 06/15/2038 | 1000 | 1211 |
| **Hyatt Hotels Corp.**  |  |  |
| 4.375% due 09/15/2028  | 1100 | 1103 |
| 5.050% due 03/30/2028  | 1100 | 1121 |
| 5.375% due 12/15/2031  | 1900 | 1958 |
| 5.750% due 04/23/2030  | 5850 | 6121 |
| 5.750% due 03/30/2032  | 500 | 524 |
| **Hyundai Capital America** <br>2.000% due 06/15/2028 | 1500 | 1424 |
| **Imperial Brands Finance PLC** <br>6.125% due 07/27/2027 | 9798 | 10092 |
| **Integris Baptist Medical Center, Inc.** <br>3.875% due 08/15/2050 | 10800 | 7853 |
| **Intel Corp.**  |  |  |
| 5.700% due 02/10/2053  | 3990 | 3719 |
| 5.900% due 02/10/2063  | 479 | 448 |
| **Jabil, Inc.** <br>5.450% due 02/01/2029 | 1600 | 1654 |
| **JetBlue Pass-Through Trust**  |  |  |
| 2.750% due 11/15/2033  | 1799 | 1618 |
| 4.000% due 05/15/2034  | 9352 | 8924 |
| **Johnson & Johnson**  |  |  |
| 2.250% due 09/01/2050  | 620 | 366 |
| 3.550% due 03/01/2036  | 350 | 322 |
| 3.700% due 03/01/2046  | 595 | 483 |
| **Juniper Networks, Inc.** <br>5.950% due 03/15/2041 | 42478 | 42655 |
| **Kaiser Foundation Hospitals** <br>4.150% due 05/01/2047 | 14300 | 11934 |
| **Keurig Dr. Pepper, Inc.**  |  |  |
| 4.500% due 04/15/2052 (m)  | 42243 | 34164 |
| 5.150% due 05/15/2035  | 70 | 70 |
| **Kinder Morgan Energy Partners LP**  |  |  |
| 4.700% due 11/01/2042  | 6209 | 5504 |
| 5.000% due 03/01/2043  | 33335 | 30421 |
| 5.400% due 09/01/2044  | 300 | 285 |
| 5.500% due 03/01/2044  | 5536 | 5325 |
| 5.625% due 09/01/2041  | 1700 | 1681 |
| 5.800% due 03/15/2035  | 10942 | 11526 |
| 6.375% due 03/01/2041  | 10715 | 11458 |
| 6.500% due 02/01/2037  | 12219 | 13330 |
| 6.500% due 09/01/2039  | 36840 | 39777 |
| 6.550% due 09/15/2040  | 30300 | 32964 |
| 6.950% due 01/15/2038  | 800 | 900 |
| 7.400% due 03/15/2031  | 5000 | 5659 |
| 7.500% due 11/15/2040  | 25567 | 29897 |
| **Kinder Morgan, Inc.**  |  |  |
| 5.300% due 12/01/2034  | 840 | 857 |
| 5.550% due 06/01/2045  | 4190 | 4059 |
| 7.800% due 08/01/2031  | 2000 | 2319 |
| **Kraft Heinz Foods Co.**  |  |  |
| 4.125% due 07/01/2027  | 1000 | 1342 |
| 4.375% due 06/01/2046  | $2800 | 2315 |
| 4.875% due 10/01/2049  | 5241 | 4513 |
| 5.000% due 06/04/2042  | 9375 | 8608 |
| 5.200% due 07/15/2045  | 333 | 306 |
| 5.500% due 06/01/2050  | 3400 | 3188 |
| 6.500% due 02/09/2040  | 44988 | 48621 |
| 7.125% due 08/01/2039  | 1043 | 1184 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| 0 | 156 | 164 | 208 |
| **L3Harris Technologies, Inc.** <br>5.500% due 08/15/2054 |  | 7548 | 7406 |
| **Laboratory Corp. of America Holdings** <br>4.800% due 10/01/2034 |  | 4900 | 4868 |
| **Las Vegas Sands Corp.**  |  |  |  |
| 3.500% due 08/18/2026  |  | 35500 | 35355 |
| 3.900% due 08/08/2029 (m)  |  | 70142 | 68528 |
| 6.200% due 08/15/2034  |  | 17615 | 18565 |
| **Leidos, Inc.**  |  |  |  |
| 2.300% due 02/15/2031  |  | 7900 | 7118 |
| 4.375% due 05/15/2030  |  | 2000 | 1998 |
| **Leland Stanford Junior University** <br>2.413% due 06/01/2050 |  | 12600 | 7587 |
| **Lockheed Martin Corp.**  |  |  |  |
| 4.300% due 06/15/2062  |  | 20800 | 16428 |
| 5.200% due 02/15/2055  |  | 20735 | 19589 |
| 5.200% due 02/15/2064  |  | 7412 | 6894 |
| 5.700% due 11/15/2054  |  | 25498 | 25771 |
| **Lowe's Cos., Inc.**  |  |  |  |
| 3.700% due 04/15/2046  |  | 1800 | 1366 |
| 4.450% due 04/01/2062  |  | 283 | 221 |
| 5.800% due 09/15/2062  |  | 752 | 736 |
| 5.850% due 04/01/2063  |  | 12400 | 12164 |
| **LYB International Finance III LLC** <br>3.625% due 04/01/2051 |  | 360 | 232 |
| **Macmillan Bloedel Pembroke LP** <br>7.700% due 02/15/2026 |  | 8555 | 8587 |
| **Marriott International, Inc.**  |  |  |  |
| 2.750% due 10/15/2033  |  | 6087 | 5327 |
| 2.850% due 04/15/2031  |  | 8335 | 7732 |
| 3.500% due 10/15/2032  |  | 16951 | 15836 |
| 4.625% due 06/15/2030  |  | 4364 | 4431 |
| 5.250% due 10/15/2035  |  | 9100 | 9226 |
| **Mars, Inc.**  |  |  |  |
| 5.000% due 03/01/2032  |  | 3100 | 3196 |
| 5.200% due 03/01/2035  |  | 13500 | 13881 |
| 5.650% due 05/01/2045  |  | 9500 | 9582 |
| 5.700% due 05/01/2055  |  | 18500 | 18442 |
| **Marvell Technology, Inc.**  |  |  |  |
| 2.950% due 04/15/2031  |  | 8364 | 7752 |
| 4.875% due 06/22/2028  |  | 6300 | 6412 |
| **Massachusetts Institute of Technology** <br>5.600% due 07/01/2111 |  | 1668 | 1672 |
| **Mattel, Inc.** <br>5.000% due 11/17/2030 |  | 650 | 655 |
| **McDonald's Corp.**  |  |  |  |
| 3.625% due 09/01/2049  |  | 10972 | 8085 |
| 4.450% due 03/01/2047  |  | 2000 | 1712 |
| 4.875% due 12/09/2045  |  | 345 | 315 |
| 6.300% due 10/15/2037  |  | 700 | 779 |
| **Merck & Co., Inc.** <br>5.700% due 09/15/2055 |  | 497 | 503 |
| **Meta Platforms, Inc.**  |  |  |  |
| 4.450% due 08/15/2052  |  | 1000 | 814 |
| 5.400% due 08/15/2054 (m)  |  | 6400 | 5959 |
| **Micron Technology, Inc.** <br>5.327% due 02/06/2029 |  | 5565 | 5740 |
| **Microsoft Corp.**  |  |  |  |
| 2.500% due 09/15/2050  |  | 30000 | 18199 |
| 2.675% due 06/01/2060  |  | 28895 | 16675 |
| 2.921% due 03/17/2052  |  | 17621 | 11558 |
| **Moody's Corp.**  |  |  |  |
| 3.100% due 11/29/2061  |  | 6000 | 3727 |
| 4.875% due 12/17/2048  |  | 9000 | 8089 |
| 5.250% due 07/15/2044  |  | 4144 | 4032 |
| **Motorola Solutions, Inc.** <br>5.500% due 09/01/2044 |  | 5686 | 5565 |
| **MPLX LP**  |  |  |  |
| 4.700% due 04/15/2048  |  | 2800 | 2331 |
| 4.900% due 04/15/2058  |  | 19120 | 15744 |
| 4.950% due 03/14/2052  |  | 45604 | 38362 |
| 5.200% due 03/01/2047  |  | 5000 | 4471 |
| 5.200% due 12/01/2047  |  | 2100 | 1875 |
| 5.500% due 02/15/2049  |  | 200 | 184 |
| 5.950% due 04/01/2055  |  | 19200 | 18538 |
| **MSCI, Inc.**  |  |  |  |
| 3.250% due 08/15/2033  |  | 5000 | 4486 |
| 3.875% due 02/15/2031  |  | 600 | 577 |
| **National Football League**  |  |  |  |
| 5.250% due 10/05/2034 «(k)  |  | 34600 | 35284 |
| 5.420% due 10/05/2037 «(k)  |  | 12000 | 12130 |
| 5.580% due 10/05/2033 «(k)  |  | 10000 | 10209 |
| 5.680% due 10/05/2035 «(k)  |  | 5000 | 5079 |
| 5.890% due 10/05/2043 «(k)  |  | 5000 | 4960 |
| **National Grid Electricity Transmission PLC**  |  |  |  |
| 2.000% due 09/16/2038  | GBP | 919 | 829 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 2.000% due 04/17/2040  | 3300 | 2838 |
| **Nationwide Children's Hospital, Inc.** <br>4.556% due 11/01/2052 | $2500 | 2165 |
| **NBCUniversal Media LLC** <br>4.450% due 01/15/2043 | 19107 | 16253 |
| **NetApp, Inc.**  |  |  |
| 5.500% due 03/17/2032  | 1400 | 1457 |
| 5.700% due 03/17/2035  | 5900 | 6192 |
| **Netflix, Inc.**  |  |  |
| 4.875% due 04/15/2028  | 1295 | 1323 |
| 5.400% due 08/15/2054  | 4005 | 3884 |
| **Newmont Corp.** <br>5.450% due 06/09/2044 | 14200 | 14175 |
| **Newmont Corp./Newcrest Finance Pty. Ltd.** <br>5.750% due 11/15/2041 | 3982 | 4032 |
| **Norfolk Southern Corp.** <br>4.100% due 05/15/2121 | 9700 | 6755 |
| **Northern Natural Gas Co.**  |  |  |
| 3.400% due 10/16/2051  | 3500 | 2354 |
| 4.100% due 09/15/2042  | 14000 | 11374 |
| 4.300% due 01/15/2049  | 18375 | 14795 |
| 5.625% due 02/01/2054  | 1500 | 1448 |
| **Northern Star Resources Ltd.** <br>6.125% due 04/11/2033 | 7600 | 8067 |
| **Northrop Grumman Corp.**  |  |  |
| 3.850% due 04/15/2045  | 9500 | 7623 |
| 4.900% due 06/01/2034  | 150 | 152 |
| **Northwell Healthcare, Inc.** <br>3.809% due 11/01/2049 | 14900 | 10976 |
| **Novartis Capital Corp.**  |  |  |
| 4.000% due 11/20/2045  | 497 | 417 |
| 4.700% due 09/18/2054  | 100 | 89 |
| **NPC Ukrenergo** <br>6.875% due 11/09/2028 | 800 | 688 |
| **NTT Finance Corp.**  |  |  |
| 5.171% due 07/16/2032  | 4800 | 4927 |
| 5.502% due 07/16/2035  | 6300 | 6526 |
| **NXP BV/NXP Funding LLC** <br>5.350% due 03/01/2026 | 10000 | 10001 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.** <br>3.150% due 05/01/2027 | 1800 | 1780 |
| **Ochsner LSU Health System of North Louisiana** <br>2.510% due 05/15/2031 | 5600 | 4805 |
| **ONEOK Partners LP**  |  |  |
| 6.125% due 02/01/2041  | 21327 | 21893 |
| 6.200% due 09/15/2043  | 47644 | 48406 |
| **Oracle Corp.**  |  |  |
| 3.600% due 04/01/2040  | 22300 | 16553 |
| 3.600% due 04/01/2050  | 28506 | 17776 |
| 3.650% due 03/25/2041  | 13880 | 10134 |
| 3.800% due 11/15/2037  | 8405 | 6791 |
| 3.850% due 04/01/2060  | 64412 | 39398 |
| 3.900% due 05/15/2035  | 5000 | 4312 |
| 3.950% due 03/25/2051  | 17100 | 11262 |
| 4.000% due 07/15/2046  | 2750 | 1908 |
| 4.000% due 11/15/2047  | 62830 | 43182 |
| 4.100% due 03/25/2061  | 50306 | 32450 |
| 4.500% due 07/08/2044  | 1400 | 1075 |
| 4.700% due 09/27/2034  | 96 | 89 |
| 4.900% due 02/06/2033  | 2295 | 2209 |
| 5.200% due 09/26/2035  | 10000 | 9584 |
| 5.375% due 09/27/2054  | 13040 | 10554 |
| 5.500% due 08/03/2035  | 20000 | 19608 |
| 5.500% due 09/27/2064  | 10316 | 8242 |
| 5.550% due 02/06/2053  | 35400 | 29408 |
| 5.875% due 09/26/2045  | 15000 | 13554 |
| 6.000% due 08/03/2055  | 24100 | 21272 |
| 6.100% due 09/26/2065  | 14300 | 12621 |
| 6.500% due 04/15/2038  | 500 | 510 |
| 6.900% due 11/09/2052  | 8500 | 8405 |
| **Orlando Health Obligated Group** <br>3.327% due 10/01/2050 | 8500 | 6018 |
| **Ovintiv, Inc.** <br>6.625% due 08/15/2037 | 3310 | 3522 |
| **Paramount Global**  |  |  |
| 2.900% due 01/15/2027  | 1100 | 1083 |
| 6.875% due 04/30/2036  | 130 | 128 |
| **PeaceHealth Obligated Group** <br>4.787% due 11/15/2048 | 2200 | 1905 |
| **Perrigo Finance Unlimited Co.** <br>4.900% due 06/15/2030 | 8300 | 8035 |
| **Petroleos Mexicanos**  |  |  |
| 6.700% due 02/16/2032 (m)  | 1900 | 1896 |
| 6.750% due 09/21/2047  | 39095 | 32170 |
| 6.950% due 01/28/2060  | 8284 | 6750 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Pfizer Investment Enterprises Pte. Ltd.**  |  |  |
| 5.110% due 05/19/2043  | 165 | 159 |
| 5.340% due 05/19/2063  | 125 | 116 |
| **Philip Morris International, Inc.**  |  |  |
| 3.875% due 08/21/2042  | 1875 | 1551 |
| 4.125% due 03/04/2043  | 2575 | 2189 |
| 4.250% due 11/10/2044  | 24400 | 20772 |
| 4.375% due 11/15/2041  | 11100 | 9916 |
| 4.875% due 11/15/2043  | 2500 | 2308 |
| **Pilgrim's Pride Corp.** <br>6.875% due 05/15/2034 | 611 | 678 |
| **Pioneer Natural Resources Co.**  |  |  |
| 1.900% due 08/15/2030  | 14227 | 12892 |
| 7.200% due 01/15/2028  | 24475 | 25986 |
| **QatarEnergy**  |  |  |
| 3.125% due 07/12/2041  | 200 | 154 |
| 3.300% due 07/12/2051  | 22880 | 16041 |
| **Qatarenergy LNG S3**  |  |  |
| 5.838% due 09/30/2027  | 1929 | 1962 |
| 6.332% due 09/30/2027  | 1032 | 1044 |
| **Rockies Express Pipeline LLC** <br>7.500% due 07/15/2038 | 5262 | 5763 |
| **Rogers Communications, Inc.**  |  |  |
| 3.800% due 03/15/2032  | 7440 | 7012 |
| 4.500% due 03/15/2042  | 1333 | 1140 |
| 4.550% due 03/15/2052 (m)  | 3312 | 2638 |
| **Royal Caribbean Cruises Ltd.** <br>5.375% due 01/15/2036 | 15000 | 15069 |
| **Royalty Pharma PLC**  |  |  |
| 3.300% due 09/02/2040  | 8584 | 6649 |
| 3.350% due 09/02/2051  | 500 | 332 |
| 3.550% due 09/02/2050  | 1000 | 691 |
| 4.450% due 03/25/2031  | 4400 | 4389 |
| 5.200% due 09/25/2035  | 247 | 248 |
| 5.400% due 09/02/2034  | 340 | 349 |
| 5.950% due 09/25/2055  | 8100 | 8057 |
| **RTX Corp.**  |  |  |
| 4.150% due 05/15/2045  | 1200 | 1006 |
| 4.450% due 11/16/2038  | 6200 | 5836 |
| 4.500% due 06/01/2042  | 1700 | 1542 |
| 5.375% due 02/27/2053  | 12574 | 12147 |
| 6.100% due 03/15/2034 (m)  | 37200 | 40720 |
| 6.400% due 03/15/2054  | 33912 | 37344 |
| **S&P Global, Inc.**  |  |  |
| 2.900% due 03/01/2032  | 460 | 424 |
| 3.250% due 12/01/2049  | 1700 | 1198 |
| 3.700% due 03/01/2052 (m)  | 2701 | 2050 |
| **Sabine Pass Liquefaction LLC**  |  |  |
| 4.200% due 03/15/2028  | 20047 | 20083 |
| 4.500% due 05/15/2030  | 25932 | 26047 |
| 5.000% due 03/15/2027  | 35565 | 35813 |
| 5.875% due 06/30/2026  | 383 | 384 |
| **Santos Finance Ltd.**  |  |  |
| 3.649% due 04/29/2031  | 35700 | 33477 |
| 5.750% due 11/13/2035  | 4500 | 4478 |
| 6.875% due 09/19/2033  | 25000 | 27400 |
| **Saudi Arabian Oil Co.**  |  |  |
| 3.250% due 11/24/2050  | 14600 | 9780 |
| 3.500% due 11/24/2070  | 19600 | 12416 |
| 5.250% due 07/17/2034  | 3800 | 3917 |
| 5.750% due 07/17/2054  | 5200 | 5080 |
| 5.875% due 07/17/2064  | 6400 | 6226 |
| **Seagate Data Storage Technology Pte. Ltd.**  |  |  |
| 4.125% due 01/15/2031 (m)  | 1263 | 1206 |
| 9.625% due 12/01/2032  | 1790 | 2033 |
| **Sekisui House U.S., Inc.** <br>3.966% due 08/06/2061 (m) | 10300 | 6962 |
| **Sherwin-Williams Co.** <br>4.500% due 06/01/2047 | 1657 | 1418 |
| **Skyworks Solutions, Inc.** <br>3.000% due 06/01/2031 | 21130 | 19180 |
| **Snam SpA** <br>6.500% due 05/28/2055 | 8900 | 9574 |
| **South Bow USA Infrastructure Holdings LLC** <br>6.176% due 10/01/2054 | 3900 | 3750 |
| **South Jersey Industries, Inc.** <br>5.020% due 04/15/2031 | 28000 | 24300 |
| **Southern Co.**  |  |  |
| 3.750% due 09/15/2051 •  | 13400 | 13260 |
| 4.250% due 07/01/2036  | 6300 | 5910 |
| 4.850% due 03/15/2035  | 3600 | 3557 |
| 5.700% due 03/15/2034  | 255 | 269 |
| **Southern Natural Gas Co. LLC** <br>8.000% due 03/01/2032 (m) | 8346 | 9655 |
| **Spirit AeroSystems, Inc.**  |  |  |
| 3.850% due 06/15/2026  | 2400 | 2393 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 4.600% due 06/15/2028  | 800 | 802 |
| **Spirit Airlines Pass-Through Trust** <br>4.100% due 10/01/2029 | 4510 | 4331 |
| **Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC** <br>5.152% due 09/20/2029 | 9945 | 10034 |
| **Stryker Corp.**  |  |  |
| 2.900% due 06/15/2050  | 7400 | 4866 |
| 4.625% due 09/11/2034  | 7226 | 7186 |
| 4.625% due 03/15/2046  | 6475 | 5787 |
| 5.200% due 02/10/2035  | 14350 | 14741 |
| **Suncor Energy, Inc.** <br>7.000% due 11/15/2028 | 17772 | 19150 |
| **Sutter Health**  |  |  |
| 3.161% due 08/15/2040  | 1950 | 1543 |
| 3.361% due 08/15/2050  | 2600 | 1824 |
| 5.164% due 08/15/2033  | 3500 | 3607 |
| 5.547% due 08/15/2053  | 2600 | 2592 |
| **Synopsys, Inc.** <br>5.700% due 04/01/2055 | 4956 | 4922 |
| **Sysco Corp.** <br>6.600% due 04/01/2050 | 153 | 168 |
| **T-Mobile USA, Inc.**  |  |  |
| 2.050% due 02/15/2028  | 11280 | 10833 |
| 2.550% due 02/15/2031  | 10400 | 9504 |
| 2.700% due 03/15/2032  | 7674 | 6902 |
| 3.300% due 02/15/2051  | 45850 | 30683 |
| 3.400% due 10/15/2052  | 31800 | 21398 |
| 3.500% due 04/15/2031  | 958 | 916 |
| 3.600% due 11/15/2060  | 47797 | 31780 |
| 3.750% due 04/15/2027  | 5020 | 5006 |
| 4.375% due 04/15/2040  | 17804 | 15979 |
| 4.500% due 04/15/2050 (m)  | 52300 | 43107 |
| 4.950% due 11/15/2035  | 12500 | 12432 |
| 5.250% due 06/15/2055  | 11300 | 10303 |
| 5.500% due 01/15/2055  | 3600 | 3414 |
| 5.650% due 01/15/2053 (m)  | 29000 | 28077 |
| 5.700% due 01/15/2056  | 26500 | 25872 |
| 5.750% due 01/15/2054  | 10000 | 9819 |
| 5.800% due 09/15/2062  | 9300 | 9170 |
| 5.875% due 11/15/2055  | 16025 | 16077 |
| 6.000% due 06/15/2054  | 3300 | 3372 |
| **Tapestry, Inc.**  |  |  |
| 5.100% due 03/11/2030  | 3885 | 3994 |
| 5.500% due 03/11/2035  | 11885 | 12158 |
| **Targa Resources Corp.**  |  |  |
| 5.500% due 02/15/2035  | 1390 | 1425 |
| 6.250% due 07/01/2052  | 14300 | 14438 |
| 6.500% due 02/15/2053  | 3000 | 3142 |
| **TD SYNNEX Corp.**  |  |  |
| 2.375% due 08/09/2028  | 9200 | 8765 |
| 2.650% due 08/09/2031  | 2450 | 2206 |
| **Telefonica Emisiones SA**  |  |  |
| 4.895% due 03/06/2048  | 16000 | 13488 |
| 5.213% due 03/08/2047  | 14700 | 12988 |
| 5.520% due 03/01/2049  | 1685 | 1536 |
| 7.045% due 06/20/2036  | 11697 | 13057 |
| **Tennessee Gas Pipeline Co. LLC**  |  |  |
| 2.900% due 03/01/2030  | 4500 | 4248 |
| 7.625% due 04/01/2037  | 320 | 377 |
| **Texas Eastern Transmission LP** <br>4.150% due 01/15/2048 | 400 | 319 |
| **Thames Water Super Senior Issuer PLC** <br>9.750% due 10/10/2027 | 2012 | 3126 |
| **Thomas Jefferson University** <br>3.847% due 11/01/2057 | $4754 | 3341 |
| **Time Warner Cable Enterprises LLC** <br>8.375% due 07/15/2033 | 18420 | 21291 |
| **Time Warner Cable LLC**  |  |  |
| 4.500% due 09/15/2042  | 18500 | 14275 |
| 5.500% due 09/01/2041  | 14800 | 13014 |
| 5.875% due 11/15/2040  | 5200 | 4816 |
| 6.550% due 05/01/2037  | 7306 | 7464 |
| 6.750% due 06/15/2039  | 52495 | 53153 |
| 7.300% due 07/01/2038  | 1660 | 1780 |
| **Toll Brothers Finance Corp.** <br>5.600% due 06/15/2035 | 794 | 822 |
| **Topaz Solar Farms LLC** <br>4.875% due 09/30/2039 | 4106 | 3680 |
| **TotalEnergies Capital SA** <br>5.425% due 09/10/2064 | 10500 | 9863 |
| **TR Finance LLC** <br>5.650% due 11/23/2043 | 10791 | 10849 |
| **Transcontinental Gas Pipe Line Co. LLC**  |  |  |
| 3.950% due 05/15/2050  | 23200 | 17917 |
| 5.400% due 08/15/2041  | 21385 | 21162 |
| 5.750% due 03/15/2056  | 7300 | 7228 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Trustees of the University of Pennsylvania** <br>4.674% due 09/01/2112 | 2500 | 2058 |
| **Trustees of Tufts College** <br>5.017% due 04/15/2112 | 3000 | 2567 |
| **TTX Co.** <br>4.600% due 02/01/2049 | 3700 | 3229 |
| **UMass Memorial Health Care Obligated Group** <br>5.363% due 07/01/2052 | 1900 | 1796 |
| **Union Pacific Corp.**  |  |  |
| 2.891% due 04/06/2036  | 666 | 564 |
| 3.250% due 02/05/2050  | 593 | 411 |
| 3.550% due 05/20/2061  | 22710 | 15305 |
| 3.750% due 02/05/2070  | 8493 | 5747 |
| 3.799% due 04/06/2071  | 12500 | 8603 |
| 3.950% due 08/15/2059  | 10 | 7 |
| **United Airlines Pass-Through Trust**  |  |  |
| 2.700% due 11/01/2033  | 2779 | 2557 |
| 3.100% due 01/07/2030  | 19821 | 19331 |
| 3.100% due 04/07/2030  | 2549 | 2439 |
| 3.450% due 06/01/2029  | 1676 | 1653 |
| 3.450% due 01/07/2030  | 614 | 599 |
| 3.500% due 09/01/2031  | 3123 | 3022 |
| 3.750% due 03/03/2028  | 4168 | 4164 |
| 4.000% due 10/11/2027  | 7592 | 7591 |
| 4.150% due 02/25/2033  | 6916 | 6805 |
| 4.550% due 02/25/2033  | 10879 | 10602 |
| 5.450% due 08/15/2038  | 37848 | 39041 |
| 5.875% due 04/15/2029  | 15915 | 16330 |
| **UnitedHealth Group, Inc.**  |  |  |
| 3.050% due 05/15/2041  | 20011 | 15181 |
| 3.250% due 05/15/2051  | 20000 | 13557 |
| 3.700% due 08/15/2049  | 5800 | 4320 |
| 3.875% due 08/15/2059  | 700 | 503 |
| 4.200% due 01/15/2047  | 285 | 235 |
| 4.950% due 05/15/2062  | 5000 | 4332 |
| 5.150% due 07/15/2034  | 18552 | 19008 |
| 5.200% due 04/15/2063  | 67307 | 60320 |
| 5.300% due 06/15/2035  | 5560 | 5759 |
| 5.375% due 04/15/2054  | 14900 | 14071 |
| 5.500% due 07/15/2044  | 20000 | 19864 |
| 5.625% due 07/15/2054  | 17400 | 17086 |
| 5.750% due 07/15/2064  | 31088 | 30376 |
| 5.950% due 06/15/2055  | 1200 | 1233 |
| **UPMC** <br>5.377% due 05/15/2043 | 3000 | 2933 |
| **Vale Overseas Ltd.**  |  |  |
| 3.750% due 07/08/2030  | 2285 | 2203 |
| 6.400% due 06/28/2054  | 3800 | 3882 |
| **Var Energi ASA** <br>8.000% due 11/15/2032 | 9800 | 11231 |
| **VeriSign, Inc.** <br>2.700% due 06/15/2031 | 15400 | 14027 |
| **Verisk Analytics, Inc.** <br>3.625% due 05/15/2050 | 11900 | 8626 |
| **Viper Energy Partners LLC**  |  |  |
| 4.900% due 08/01/2030  | 1300 | 1316 |
| 5.700% due 08/01/2035  | 9850 | 10058 |
| **VMware LLC**  |  |  |
| 1.800% due 08/15/2028  | 5600 | 5301 |
| 4.700% due 05/15/2030  | 25900 | 26322 |
| **Volkswagen Group of America Finance LLC**  |  |  |
| 4.950% due 03/25/2027  | 3500 | 3531 |
| 5.050% due 03/27/2028  | 6700 | 6806 |
| **Wabtec Transportation Netherlands BV** <br>1.250% due 12/03/2027 | 2450 | 2814 |
| **Walt Disney Co.**  |  |  |
| 2.750% due 09/01/2049  | $3406 | 2165 |
| 3.500% due 05/13/2040  | 155 | 130 |
| 3.800% due 05/13/2060  | 8354 | 6139 |
| 4.750% due 09/15/2044  | 1600 | 1464 |
| **Warnermedia Holdings, Inc.**  |  |  |
| 5.050% due 03/15/2042  | 10440 | 7373 |
| 5.141% due 03/15/2052  | 1391 | 920 |
| **Weir Group, Inc.** <br>5.350% due 05/06/2030 | 5000 | 5140 |
| **West Virginia United Health System Obligated Group** <br>3.129% due 06/01/2050 | 4400 | 2779 |
| **Western & Southern Life Insurance Co.**  |  |  |
| 3.750% due 04/28/2061  | 24300 | 16598 |
| 5.150% due 01/15/2049  | 16000 | 14514 |
| **Western Midstream Operating LP**  |  |  |
| 5.250% due 02/01/2050  | 693 | 594 |
| 5.300% due 03/01/2048  | 8531 | 7362 |
| 5.450% due 11/15/2034  | 1500 | 1511 |
| 5.450% due 04/01/2044  | 255 | 233 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Williams Cos., Inc.**  |  |  |
| 5.300% due 09/30/2035  | 10850 | 11041 |
| 5.300% due 08/15/2052  | 10250 | 9467 |
| 5.600% due 03/15/2035  | 8961 | 9340 |
| 5.800% due 11/15/2054  | 2641 | 2612 |
| 6.000% due 03/15/2055  | 4947 | 5055 |
| 8.750% due 03/15/2032  | 1710 | 2077 |
| **Woodside Finance Ltd.**  |  |  |
| 4.500% due 03/04/2029  | 3809 | 3811 |
| 5.100% due 09/12/2034  | 13490 | 13334 |
| 5.400% due 05/19/2030  | 6500 | 6676 |
| 5.700% due 05/19/2032  | 2940 | 3061 |
| 5.700% due 09/12/2054  | 25000 | 23545 |
| 6.000% due 05/19/2035  | 14000 | 14588 |
| **Workday, Inc.** <br>3.800% due 04/01/2032 | 21534 | 20611 |
| **Yale University** <br>2.402% due 04/15/2050 | 6900 | 4157 |
| **Yara International ASA** <br>3.148% due 06/04/2030 | 4800 | 4522 |
| **Zimmer Biomet Holdings, Inc.**  |  |  |
| 1.164% due 11/15/2027  | 3300 | 3782 |
| 4.250% due 08/15/2035  | $1681 | 1568 |
| 5.200% due 09/15/2034  | 15053 | 15354 |
| 5.500% due 02/19/2035  | 11000 | 11414 |
| **Zoetis, Inc.**  |  |  |
| 3.950% due 09/12/2047  | 9000 | 7231 |
| 4.450% due 08/20/2048  | 7500 | 6454 |
|  |  | 8486660 |
| **UTILITIES 15.5%**  |  |  |
| **AEP Texas, Inc.**  |  |  |
| 3.450% due 05/15/2051  | 7000 | 4755 |
| 4.150% due 05/01/2049  | 14400 | 11129 |
| 5.700% due 05/15/2034  | 2900 | 3030 |
| 5.850% due 10/15/2055  | 100 | 98 |
| 6.650% due 02/15/2033  | 1000 | 1091 |
| **AES Corp.**  |  |  |
| 3.950% due 07/15/2030  | 7000 | 6842 |
| 5.450% due 06/01/2028  | 2019 | 2067 |
| **Alabama Power Co.**  |  |  |
| 3.125% due 07/15/2051  | 1300 | 865 |
| 3.450% due 10/01/2049  | 3600 | 2564 |
| 3.700% due 12/01/2047  | 100 | 77 |
| 3.850% due 12/01/2042  | 2950 | 2419 |
| 3.940% due 09/01/2032  | 5500 | 5342 |
| 4.300% due 07/15/2048  | 8700 | 7235 |
| 5.200% due 06/01/2041  | 200 | 196 |
| **Alliant Energy Finance LLC** <br>3.600% due 03/01/2032 | 13500 | 12553 |
| **Ameren Illinois Co.**  |  |  |
| 2.900% due 06/15/2051  | 32500 | 20659 |
| 3.250% due 03/15/2050  | 2600 | 1793 |
| 3.700% due 12/01/2047  | 2200 | 1686 |
| 4.150% due 03/15/2046  | 5451 | 4523 |
| 5.625% due 03/01/2055  | 5000 | 4982 |
| 5.900% due 12/01/2052  | 8275 | 8613 |
| **American Electric Power Co., Inc.**  |  |  |
| 3.875% due 02/15/2062 •  | 7938 | 7810 |
| 5.625% due 03/01/2033  | 1489 | 1565 |
| **American Transmission Systems, Inc.** <br>5.000% due 09/01/2044 | 13395 | 12496 |
| **American Water Capital Corp.**  |  |  |
| 3.750% due 09/01/2047  | 5000 | 3856 |
| 4.300% due 12/01/2042  | 8700 | 7581 |
| **Anglian Water Services Financing PLC** <br>6.000% due 06/20/2039 | 2900 | 3829 |
| **Appalachian Power Co.**  |  |  |
| 4.400% due 05/15/2044  | $8350 | 7039 |
| 4.450% due 06/01/2045  | 2000 | 1676 |
| 4.500% due 08/01/2032  | 3800 | 3770 |
| 5.800% due 10/01/2035  | 2176 | 2311 |
| 6.375% due 04/01/2036  | 5146 | 5577 |
| 6.700% due 08/15/2037  | 3600 | 3983 |
| 7.000% due 04/01/2038  | 5478 | 6209 |
| **Arizona Public Service Co.**  |  |  |
| 3.500% due 12/01/2049  | 7100 | 4985 |
| 4.500% due 04/01/2042  | 6104 | 5387 |
| **AT&T, Inc.**  |  |  |
| 3.150% due 09/04/2036  | 2800 | 3061 |
| 3.500% due 09/15/2053  | $57427 | 38461 |
| 3.550% due 09/15/2055  | 124782 | 83151 |
| 3.650% due 06/01/2051  | 6050 | 4258 |
| 3.650% due 09/15/2059  | 273454 | 180475 |
| 3.800% due 12/01/2057  | 215680 | 148469 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 3.850% due 06/01/2060  | 28820 | 19871 |
| 4.300% due 12/15/2042  | 175 | 148 |
| **Atmos Energy Corp.**  |  |  |
| 2.850% due 02/15/2052  | 7836 | 4886 |
| 3.375% due 09/15/2049  | 5000 | 3530 |
| 4.125% due 03/15/2049  | 5300 | 4257 |
| 4.300% due 10/01/2048  | 6200 | 5152 |
| **Avista Corp.** <br>4.000% due 04/01/2052 | 12800 | 9599 |
| **Baltimore Gas & Electric Co.**  |  |  |
| 2.900% due 06/15/2050  | 1681 | 1078 |
| 3.200% due 09/15/2049  | 2400 | 1625 |
| **Basin Electric Power Cooperative** <br>5.850% due 10/15/2055 | 22200 | 21773 |
| **Berkshire Hathaway Energy Co.**  |  |  |
| 4.250% due 10/15/2050  | 3400 | 2723 |
| 4.450% due 01/15/2049  | 24790 | 20732 |
| 4.500% due 02/01/2045  | 580 | 504 |
| 4.600% due 05/01/2053  | 11800 | 9942 |
| 6.125% due 04/01/2036  | 5200 | 5644 |
| **Black Hills Corp.**  |  |  |
| 4.200% due 09/15/2046  | 4284 | 3438 |
| 6.000% due 01/15/2035  | 5625 | 6006 |
| **Boston Gas Co.**  |  |  |
| 4.487% due 02/15/2042  | 7784 | 6693 |
| 5.843% due 01/10/2035  | 3000 | 3171 |
| 6.119% due 07/20/2053  | 21140 | 21272 |
| **Brooklyn Union Gas Co.** <br>4.487% due 03/04/2049 | 7500 | 6093 |
| **CenterPoint Energy Houston Electric LLC**  |  |  |
| 2.900% due 07/01/2050  | 4400 | 2852 |
| 3.350% due 04/01/2051  | 19000 | 13419 |
| 3.600% due 03/01/2052  | 16270 | 11930 |
| 4.950% due 04/01/2033  | 7000 | 7132 |
| **Cleco Power LLC** <br>6.000% due 12/01/2040 | 18175 | 18927 |
| **Cleveland Electric Illuminating Co.** <br>5.950% due 12/15/2036 | 7000 | 7373 |
| **CMS Energy Corp.** <br>4.700% due 03/31/2043 | 3837 | 3357 |
| **Columbia Pipelines Operating Co. LLC**  |  |  |
| 5.695% due 10/01/2054  | 10000 | 9471 |
| 6.497% due 08/15/2043  | 4675 | 4960 |
| 6.544% due 11/15/2053  | 12300 | 13160 |
| 6.714% due 08/15/2063  | 9800 | 10625 |
| **Commonwealth Edison Co.**  |  |  |
| 3.000% due 03/01/2050  | 5200 | 3419 |
| 3.125% due 03/15/2051  | 19200 | 12799 |
| 3.850% due 03/15/2052  | 8400 | 6327 |
| **Connecticut Light & Power Co.**  |  |  |
| 2.050% due 07/01/2031  | 4845 | 4315 |
| 4.000% due 04/01/2048  | 1300 | 1039 |
| 4.300% due 04/15/2044  | 13009 | 11180 |
| **Consolidated Edison Co. of New York, Inc.**  |  |  |
| 3.000% due 12/01/2060  | 6480 | 3829 |
| 3.600% due 06/15/2061  | 16585 | 11349 |
| 4.125% due 05/15/2049  | 18110 | 14435 |
| 4.200% due 03/15/2042  | 5000 | 4291 |
| 4.300% due 12/01/2056  | 1270 | 1007 |
| 4.500% due 05/15/2058  | 29031 | 23838 |
| 5.700% due 06/15/2040  | 4900 | 5120 |
| **Constellation Energy Generation LLC**  |  |  |
| 5.600% due 06/15/2042  | 21664 | 21759 |
| 5.750% due 03/15/2054  | 9155 | 9092 |
| 5.800% due 03/01/2033  | 8852 | 9453 |
| 6.250% due 10/01/2039  | 12875 | 13986 |
| 6.500% due 10/01/2053  | 6980 | 7616 |
| **Consumers Energy Co.**  |  |  |
| 4.050% due 05/15/2048  | 8100 | 6548 |
| 4.100% due 11/15/2045  | 2150 | 1747 |
| 4.350% due 04/15/2049  | 14000 | 11690 |
| **Dayton Power & Light Co.** <br>3.950% due 06/15/2049 | 11000 | 8207 |
| **Dominion Energy, Inc.**  |  |  |
| 2.250% due 08/15/2031  | 8877 | 7908 |
| 4.850% due 08/15/2052  | 7800 | 6715 |
| **DTE Electric Co.**  |  |  |
| 3.250% due 04/01/2051  | 8400 | 5767 |
| 3.650% due 03/01/2052  | 5600 | 4148 |
| 4.300% due 07/01/2044  | 9150 | 7820 |
| 5.400% due 04/01/2053  | 10000 | 9757 |
| **Duke Energy Carolinas LLC**  |  |  |
| 2.850% due 03/15/2032  | 3600 | 3300 |
| 3.200% due 08/15/2049  | 16000 | 10975 |
| 3.450% due 04/15/2051  | 5600 | 3976 |
| 3.550% due 03/15/2052  | 8000 | 5780 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 3.700% due 12/01/2047  | 15355 | 11613 |
| 3.750% due 06/01/2045  | 4358 | 3438 |
| 3.875% due 03/15/2046  | 2034 | 1614 |
| 3.950% due 03/15/2048  | 9915 | 7884 |
| 4.000% due 09/30/2042  | 3500 | 2945 |
| 4.250% due 12/15/2041  | 16400 | 14432 |
| 4.850% due 01/15/2034  | 910 | 922 |
| 5.350% due 01/15/2053  | 12014 | 11573 |
| 5.400% due 01/15/2054  | 466 | 454 |
| **Duke Energy Corp.**  |  |  |
| 3.300% due 06/15/2041  | 2491 | 1926 |
| 3.500% due 06/15/2051  | 6750 | 4682 |
| 3.950% due 08/15/2047  | 4670 | 3602 |
| 4.200% due 06/15/2049  | 5000 | 3942 |
| 6.100% due 09/15/2053  | 3227 | 3346 |
| **Duke Energy Florida LLC**  |  |  |
| 4.200% due 07/15/2048  | 7600 | 6210 |
| 5.650% due 04/01/2040  | 6000 | 6245 |
| **Duke Energy Indiana LLC**  |  |  |
| 4.900% due 07/15/2043  | 2000 | 1864 |
| 5.400% due 04/01/2053  | 7000 | 6655 |
| **Duke Energy Ohio, Inc.** <br>5.650% due 04/01/2053 | 2000 | 1985 |
| **Duke Energy Progress LLC**  |  |  |
| 2.500% due 08/15/2050  | 25000 | 14639 |
| 3.600% due 09/15/2047  | 44900 | 33541 |
| 4.000% due 04/01/2052  | 3687 | 2874 |
| 4.100% due 03/15/2043  | 6026 | 5092 |
| 5.250% due 03/15/2033  | 9850 | 10250 |
| 5.350% due 03/15/2053  | 9300 | 8927 |
| 5.550% due 03/15/2055  | 4750 | 4706 |
| **Duquesne Light Holdings, Inc.** <br>2.532% due 10/01/2030 | 3700 | 3364 |
| **E.ON International Finance BV** <br>6.650% due 04/30/2038 | 1520 | 1711 |
| **Edison International**  |  |  |
| 6.250% due 03/15/2030  | 6400 | 6696 |
| 8.125% due 06/15/2053 •(m)  | 7200 | 7497 |
| **Electricite de France SA**  |  |  |
| 4.500% due 12/04/2069  | 7600 | 5412 |
| 4.950% due 10/13/2045  | 19324 | 17113 |
| 5.000% due 09/21/2048  | 12622 | 11245 |
| 6.000% due 04/22/2064  | 33874 | 33382 |
| 6.000% due 01/22/2114 (m)  | 17924 | 17269 |
| 6.375% due 01/13/2055  | 10800 | 11302 |
| 6.900% due 05/23/2053  | 8492 | 9366 |
| **Enel Finance America LLC** <br>2.875% due 07/12/2041 | 2000 | 1446 |
| **Enel Finance International NV**  |  |  |
| 4.750% due 05/25/2047  | 24780 | 21477 |
| 7.750% due 10/14/2052  | 7000 | 8513 |
| **Entergy Arkansas LLC**  |  |  |
| 2.650% due 06/15/2051  | 9375 | 5603 |
| 3.350% due 06/15/2052  | 7400 | 5048 |
| 4.200% due 04/01/2049  | 5800 | 4708 |
| 5.750% due 06/01/2054  | 10000 | 10129 |
| **Entergy Corp.** <br>3.750% due 06/15/2050 (m) | 13000 | 9459 |
| **Entergy Mississippi LLC**  |  |  |
| 3.500% due 06/01/2051  | 1500 | 1051 |
| 5.000% due 09/01/2033  | 6800 | 6925 |
| **Entergy Texas, Inc.**  |  |  |
| 4.500% due 03/30/2039  | 4000 | 3722 |
| 5.000% due 09/15/2052  | 11900 | 10614 |
| 5.800% due 09/01/2053  | 2200 | 2207 |
| **Evergy Kansas Central, Inc.**  |  |  |
| 3.450% due 04/15/2050  | 8300 | 5883 |
| 5.250% due 03/15/2035  | 7400 | 7547 |
| 5.700% due 03/15/2053  | 6500 | 6465 |
| **Evergy Metro, Inc.**  |  |  |
| 4.125% due 04/01/2049  | 15431 | 12426 |
| 4.200% due 06/15/2047  | 1200 | 980 |
| 4.200% due 03/15/2048  | 2000 | 1643 |
| **Evergy, Inc.** <br>6.650% due 06/01/2055 •  | 1000 | 1027 |
| **Eversource Energy**  |  |  |
| 3.350% due 03/15/2026  | 2838 | 2833 |
| 4.450% due 12/15/2030  | 3700 | 3681 |
| 5.125% due 05/15/2033  | 3976 | 4018 |
| **Exelon Corp.** <br>5.600% due 03/15/2053 | 4103 | 3980 |
| **Fells Point Funding Trust** <br>3.046% due 01/31/2027 | 20000 | 19769 |
| **FirstEnergy Corp.** <br>3.400% due 03/01/2050 | 7500 | 5195 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **FirstEnergy Transmission LLC**  |  |  |
| 2.866% due 09/15/2028  | 2600 | 2515 |
| 5.450% due 07/15/2044  | 10100 | 9766 |
| **Florida Power & Light Co.**  |  |  |
| 2.875% due 12/04/2051  | 1100 | 702 |
| 3.700% due 12/01/2047  | 16800 | 12968 |
| 3.950% due 03/01/2048  | 152 | 122 |
| 4.050% due 10/01/2044  | 4200 | 3511 |
| 5.100% due 04/01/2033  | 1440 | 1494 |
| 5.600% due 06/15/2054  | 100 | 101 |
| 5.600% due 02/15/2066  | 10000 | 9853 |
| 5.700% due 03/15/2055  | 5215 | 5294 |
| **FORESEA Holding SA** <br>7.500% due 06/15/2030 | 1851 | 1827 |
| **Gazprom PJSC via Gaz Finance PLC**  |  |  |
| 1.500% due 02/17/2027  | 200 | 182 |
| 2.950% due 01/27/2029  | $21000 | 15225 |
| **Georgia Power Co.**  |  |  |
| 3.250% due 03/15/2051  | 19600 | 13428 |
| 4.750% due 09/01/2040  | 1425 | 1355 |
| 5.125% due 05/15/2052 (m)  | 30600 | 28565 |
| 5.400% due 06/01/2040  | 9085 | 9241 |
| **Idaho Power Co.** <br>4.850% due 08/15/2040 | 8000 | 7403 |
| **Indiana Michigan Power Co.**  |  |  |
| 3.250% due 05/01/2051  | 19500 | 13018 |
| 4.250% due 08/15/2048  | 5570 | 4520 |
| 4.550% due 03/15/2046  | 500 | 434 |
| 5.625% due 04/01/2053  | 13219 | 13101 |
| **Indianapolis Power & Light Co.**  |  |  |
| 5.650% due 12/01/2032  | 30000 | 31377 |
| 5.700% due 04/01/2054  | 3600 | 3591 |
| **Interstate Power & Light Co.** <br>6.250% due 07/15/2039 | 5000 | 5360 |
| **IPALCO Enterprises, Inc.** <br>4.250% due 05/01/2030 | 14524 | 14213 |
| **Jersey Central Power & Light Co.**  |  |  |
| 2.750% due 03/01/2032  | 6000 | 5400 |
| 5.150% due 01/15/2036  | 10000 | 10129 |
| 6.150% due 06/01/2037  | 8562 | 9273 |
| **Kentucky Utilities Co.**  |  |  |
| 3.300% due 06/01/2050  | 4910 | 3399 |
| 4.375% due 10/01/2045  | 7100 | 6014 |
| 5.125% due 11/01/2040  | 14500 | 14242 |
| **KeySpan Gas East Corp.** <br>3.586% due 01/18/2052 | 12700 | 8509 |
| **Liberty Utilities Co.** <br>5.869% due 01/31/2034 | 10000 | 10525 |
| **Louisville Gas & Electric Co.**  |  |  |
| 4.250% due 04/01/2049  | 1900 | 1560 |
| 5.450% due 04/15/2033  | 15000 | 15717 |
| **Massachusetts Electric Co.** <br>5.867% due 02/26/2054 | 9100 | 9138 |
| **MidAmerican Energy Co.**  |  |  |
| 2.700% due 08/01/2052  | 1000 | 614 |
| 3.150% due 04/15/2050  | 1200 | 816 |
| 3.650% due 08/01/2048  | 6000 | 4499 |
| 3.950% due 08/01/2047  | 8262 | 6566 |
| 4.250% due 07/15/2049  | 5300 | 4355 |
| 4.400% due 10/15/2044  | 500 | 433 |
| 5.300% due 02/01/2055  | 17000 | 16173 |
| 5.350% due 01/15/2034  | 5000 | 5232 |
| 5.500% due 11/15/2056  | 15000 | 14745 |
| 5.850% due 09/15/2054  | 19415 | 20060 |
| **Midwest Connector Capital Co. LLC** <br>4.625% due 04/01/2029 | 12200 | 12220 |
| **Mississippi Power Co.**  |  |  |
| 3.100% due 07/30/2051  | 18550 | 12127 |
| 4.250% due 03/15/2042  | 7400 | 6363 |
| **Monongahela Power Co.** <br>5.400% due 12/15/2043 | 9061 | 8860 |
| **National Grid Electricity Distribution East Midlands PLC** <br>3.949% due 09/20/2032 | 9700 | 11759 |
| **National Grid PLC** <br>5.809% due 06/12/2033 | $3700 | 3944 |
| **Nevada Power Co.** <br>6.000% due 03/15/2054 | 5000 | 5134 |
| **New York State Electric & Gas Corp.** <br>3.300% due 09/15/2049 | 10200 | 6930 |
| **Niagara Mohawk Power Corp.**  |  |  |
| 4.119% due 11/28/2042  | 3850 | 3245 |
| 5.664% due 01/17/2054  | 1665 | 1619 |
| 5.783% due 09/16/2052  | 10550 | 10495 |
| 5.996% due 07/03/2055  | 5000 | 5082 |
| **NiSource, Inc.**  |  |  |
| 3.950% due 03/30/2048 (m)  | 6830 | 5349 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 4.375% due 05/15/2047  | 14845 | 12355 |
| 5.650% due 02/01/2045  | 8640 | 8619 |
| 5.800% due 02/01/2042  | 6723 | 6791 |
| **Northern States Power Co.**  |  |  |
| 3.200% due 04/01/2052  | 1400 | 962 |
| 4.500% due 06/01/2052  | 6800 | 5809 |
| 5.400% due 03/15/2054  | 6881 | 6704 |
| **NSTAR Electric Co.**  |  |  |
| 4.400% due 03/01/2044  | 1500 | 1300 |
| 4.550% due 06/01/2052  | 5900 | 5029 |
| 4.950% due 09/15/2052  | 9200 | 8305 |
| **Oglethorpe Power Corp.**  |  |  |
| 3.750% due 08/01/2050  | 10600 | 7602 |
| 4.500% due 04/01/2047  | 36100 | 30329 |
| 5.050% due 10/01/2048  | 28500 | 25587 |
| 5.250% due 09/01/2050  | 25000 | 22632 |
| **Ohio Edison Co.**  |  |  |
| 5.500% due 01/15/2033  | 4000 | 4169 |
| 6.875% due 07/15/2036  | 3500 | 4012 |
| 8.250% due 10/15/2038  | 1000 | 1276 |
| **Ohio Power Co.** <br>5.000% due 06/01/2033 | 3600 | 3659 |
| **Oklahoma Gas & Electric Co.** <br>5.850% due 06/01/2040 | 4000 | 4168 |
| **Oncor Electric Delivery Co. LLC**  |  |  |
| 2.700% due 11/15/2051  | 7204 | 4332 |
| 3.100% due 09/15/2049  | 6000 | 4002 |
| 4.100% due 11/15/2048  | 421 | 340 |
| 4.600% due 06/01/2052  | 8700 | 7368 |
| 4.950% due 09/15/2052  | 2644 | 2357 |
| 5.250% due 09/30/2040  | 15100 | 14988 |
| 5.300% due 06/01/2042  | 600 | 587 |
| 7.250% due 01/15/2033  | 1900 | 2173 |
| 7.500% due 09/01/2038  | 2590 | 3105 |
| **ONEOK, Inc.**  |  |  |
| 4.450% due 09/01/2049  | 5900 | 4767 |
| 4.950% due 07/13/2047  | 4900 | 4292 |
| 5.050% due 11/01/2034  | 15000 | 14873 |
| 5.200% due 07/15/2048  | 44323 | 39984 |
| 5.450% due 06/01/2047  | 20500 | 18939 |
| 5.700% due 11/01/2054  | 24280 | 22643 |
| 5.850% due 11/01/2064  | 29294 | 27517 |
| 6.625% due 09/01/2053  | 5700 | 5976 |
| **Pacific Gas & Electric Co.**  |  |  |
| 2.500% due 02/01/2031  | 22900 | 20638 |
| 3.150% due 01/01/2026  | 19651 | 19651 |
| 3.250% due 06/01/2031  | 9400 | 8762 |
| 3.300% due 03/15/2027  | 4910 | 4860 |
| 3.300% due 12/01/2027  | 8000 | 7882 |
| 3.300% due 08/01/2040  | 11300 | 8583 |
| 3.500% due 08/01/2050  | 68788 | 46474 |
| 3.750% due 08/15/2042  | 18181 | 13806 |
| 3.950% due 12/01/2047  | 12183 | 9104 |
| 4.000% due 12/01/2046  | 22370 | 16842 |
| 4.200% due 06/01/2041  | 2000 | 1668 |
| 4.250% due 03/15/2046  | 26543 | 20864 |
| 4.300% due 03/15/2045  | 9100 | 7253 |
| 4.500% due 07/01/2040  | 22679 | 19777 |
| 4.500% due 12/15/2041  | 27149 | 22653 |
| 4.600% due 06/15/2043  | 19804 | 16548 |
| 4.650% due 08/01/2028  | 12000 | 12091 |
| 4.750% due 02/15/2044  | 15157 | 12853 |
| 4.950% due 07/01/2050  | 32577 | 27572 |
| 5.250% due 03/01/2052  | 2000 | 1746 |
| 5.700% due 03/01/2035  | 10000 | 10287 |
| 6.000% due 08/15/2035  | 16000 | 16828 |
| 6.100% due 10/15/2055  | 17500 | 17196 |
| 6.150% due 03/01/2055  | 28100 | 27929 |
| 6.700% due 04/01/2053  | 37196 | 39305 |
| **PacifiCorp**  |  |  |
| 2.700% due 09/15/2030  | 1200 | 1104 |
| 2.900% due 06/15/2052  | 23756 | 13930 |
| 3.300% due 03/15/2051  | 17431 | 11187 |
| 4.100% due 02/01/2042  | 2419 | 1918 |
| 4.125% due 01/15/2049  | 6400 | 4787 |
| 4.150% due 02/15/2050  | 5545 | 4128 |
| 5.300% due 02/15/2031  | 3800 | 3914 |
| 5.350% due 12/01/2053  | 27100 | 23828 |
| 5.450% due 02/15/2034  | 11800 | 11975 |
| 5.500% due 05/15/2054  | 15008 | 13424 |
| 5.800% due 01/15/2055  | 17437 | 16285 |
| 6.250% due 10/15/2037  | 14040 | 14690 |
| 6.350% due 07/15/2038  | 4000 | 4194 |
| 7.375% due 09/15/2055 •  | 6500 | 6630 |
| **PECO Energy Co.**  |  |  |
| 2.800% due 06/15/2050  | 6500 | 4086 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 4.150% due 10/01/2044  | 8900 | 7484 |
| 4.600% due 05/15/2052  | 9400 | 8039 |
| 4.800% due 10/15/2043  | 1185 | 1072 |
| **Perusahaan Perseroan Persero PT Perusahaan Listrik Negara**  |  |  |
| 4.000% due 06/30/2050  | 14100 | 10472 |
| 4.875% due 07/17/2049  | 11200 | 9620 |
| 6.250% due 01/25/2049  | 1200 | 1236 |
| **PG&E Recovery Funding LLC**  |  |  |
| 5.231% due 06/01/2042  | 5000 | 5068 |
| 5.256% due 01/15/2040  | 5000 | 5137 |
| 5.536% due 07/15/2049  | 8000 | 8056 |
| **Piedmont Natural Gas Co., Inc.**  |  |  |
| 3.350% due 06/01/2050  | 9095 | 6275 |
| 5.050% due 05/15/2052  | 5000 | 4474 |
| 5.100% due 02/15/2035  | 7000 | 7121 |
| **Pinnacle West Capital Corp.** <br>4.550% (SOFRRATE + 0.820%) due 06/10/2026 ~ | 8700 | 8716 |
| **Plains All American Pipeline LP/PAA Finance Corp.**  |  |  |
| 5.150% due 06/01/2042  | 300 | 275 |
| 5.700% due 09/15/2034  | 14312 | 14782 |
| 6.650% due 01/15/2037  | 2329 | 2538 |
| 6.700% due 05/15/2036  | 3073 | 3404 |
| **PPL Electric Utilities Corp.**  |  |  |
| 3.000% due 10/01/2049  | 16700 | 11154 |
| 5.200% due 07/15/2041  | 5500 | 5313 |
| **Progress Energy, Inc.** <br>7.750% due 03/01/2031 | 5000 | 5728 |
| **Public Service Co. of Colorado**  |  |  |
| 3.200% due 03/01/2050  | 10500 | 7192 |
| 3.800% due 06/15/2047  | 5000 | 3836 |
| 3.950% due 03/15/2043  | 1500 | 1211 |
| 4.100% due 06/15/2048  | 8626 | 6877 |
| 4.300% due 03/15/2044  | 3600 | 3063 |
| 4.500% due 06/01/2052  | 4600 | 3845 |
| 5.250% due 04/01/2053  | 10000 | 9332 |
| 5.350% due 05/15/2034  | 16925 | 17399 |
| 5.750% due 05/15/2054  | 9700 | 9722 |
| 5.850% due 05/15/2055  | 20741 | 21037 |
| 6.250% due 09/01/2037  | 700 | 766 |
| **Public Service Co. of New Hampshire** <br>3.600% due 07/01/2049 | 4700 | 3466 |
| **Public Service Co. of Oklahoma**  |  |  |
| 3.150% due 08/15/2051  | 2300 | 1521 |
| 6.625% due 11/15/2037  | 1135 | 1246 |
| **Public Service Electric & Gas Co.** <br>4.850% due 08/01/2034 | 5902 | 5953 |
| **Puget Energy, Inc.** <br>4.100% due 06/15/2030 | 6010 | 5895 |
| **Puget Sound Energy, Inc.**  |  |  |
| 4.223% due 06/15/2048  | 3800 | 3109 |
| 5.448% due 06/01/2053  | 4400 | 4250 |
| **Rio Oil Finance Trust** <br>9.750% due 01/06/2027 | 2045 | 2110 |
| **RWE Finance U.S. LLC**  |  |  |
| 5.125% due 09/18/2035  | 5000 | 4974 |
| 5.875% due 09/18/2055  | 9800 | 9592 |
| **San Diego Gas & Electric Co.**  |  |  |
| 1.700% due 10/01/2030  | 1000 | 893 |
| 2.950% due 08/15/2051  | 15400 | 9830 |
| 3.320% due 04/15/2050  | 10305 | 7141 |
| 3.700% due 03/15/2052  | 15130 | 10988 |
| 3.750% due 06/01/2047  | 7550 | 5786 |
| 3.950% due 11/15/2041  | 1968 | 1622 |
| 4.100% due 06/15/2049  | 18761 | 14921 |
| 4.150% due 05/15/2048  | 12140 | 9812 |
| 4.300% due 04/01/2042  | 5097 | 4375 |
| 4.500% due 08/15/2040  | 2600 | 2375 |
| 5.350% due 04/01/2053  | 38086 | 36145 |
| 5.400% due 04/15/2035  | 9915 | 10268 |
| 5.550% due 04/15/2054  | 4500 | 4380 |
| 6.000% due 06/01/2039  | 3357 | 3595 |
| **Saudi Electricity Global Sukuk Co. 2** <br>5.060% due 04/08/2043 | 22700 | 22243 |
| **Saudi Electricity Global Sukuk Co. 3** <br>5.500% due 04/08/2044 | 27700 | 28114 |
| **SCE Recovery Funding LLC**  |  |  |
| 5.112% due 12/14/2049  | 3000 | 2838 |
| 5.341% due 03/15/2047  | 9600 | 9625 |
| **Sempra**  |  |  |
| 3.250% due 06/15/2027  | 1100 | 1087 |
| 6.000% due 10/15/2039  | 15145 | 15815 |
| 6.375% due 04/01/2056 •  | 20700 | 21164 |
| **Shell Finance U.S., Inc.** <br>5.125% due 10/15/2041 | 30145 | 29398 |
| **Sierra Pacific Power Co.** <br>5.900% due 03/15/2054 | 4800 | 4808 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Southern California Edison Co.**  |  |  |
| 2.750% due 02/01/2032  | 6800 | 6063 |
| 2.950% due 02/01/2051  | 13000 | 7939 |
| 3.450% due 02/01/2052  | 14000 | 9316 |
| 3.650% due 02/01/2050  | 12765 | 8934 |
| 3.650% due 06/01/2051  | 31200 | 21398 |
| 3.900% due 12/01/2041  | 42994 | 33839 |
| 3.900% due 03/15/2043  | 6655 | 5140 |
| 4.000% due 04/01/2047  | 106850 | 80235 |
| 4.050% due 03/15/2042  | 3834 | 3063 |
| 4.125% due 03/01/2048  | 26468 | 20180 |
| 4.650% due 10/01/2043  | 41350 | 35254 |
| 4.875% due 03/01/2049  | 17583 | 14793 |
| 5.150% due 06/01/2029  | 9890 | 10110 |
| 5.200% due 06/01/2034  | 9400 | 9455 |
| 5.750% due 04/01/2035  | 8073 | 8344 |
| 5.900% due 03/01/2055  | 413 | 399 |
| 6.000% due 01/15/2034  | 5900 | 6203 |
| 6.050% due 03/15/2039  | 12000 | 12299 |
| 6.200% due 09/15/2055  | 17400 | 17544 |
| 6.650% due 04/01/2029  | 6995 | 7333 |
| **Southern California Gas Co.**  |  |  |
| 3.750% due 09/15/2042  | 4900 | 3931 |
| 3.950% due 02/15/2050  | 8127 | 6265 |
| 4.300% due 01/15/2049  | 1942 | 1592 |
| 5.050% due 09/01/2034  | 17850 | 18147 |
| 5.125% due 11/15/2040  | 1300 | 1281 |
| 5.200% due 06/01/2033  | 3500 | 3622 |
| 5.600% due 04/01/2054  | 9785 | 9627 |
| 6.000% due 06/15/2055  | 7100 | 7300 |
| **Southern Co. Gas Capital Corp.**  |  |  |
| 4.400% due 05/30/2047  | 15925 | 13327 |
| 5.875% due 03/15/2041  | 7500 | 7770 |
| **Southern Power Co.** <br>5.250% due 07/15/2043 | 1000 | 958 |
| **Southwest Gas Corp.** <br>4.050% due 03/15/2032 | 11261 | 10871 |
| **Southwestern Electric Power Co.**  |  |  |
| 2.750% due 10/01/2026  | 900 | 892 |
| 3.250% due 11/01/2051  | 550 | 364 |
| 3.850% due 02/01/2048  | 24272 | 18169 |
| 5.300% due 04/01/2033  | 7000 | 7195 |
| 6.200% due 03/15/2040  | 14340 | 15283 |
| **Southwestern Public Service Co.**  |  |  |
| 3.150% due 05/01/2050  | 18050 | 11976 |
| 3.700% due 08/15/2047  | 3465 | 2610 |
| 3.750% due 06/15/2049  | 4000 | 2966 |
| 4.400% due 11/15/2048  | 1000 | 836 |
| 4.500% due 08/15/2041  | 3900 | 3485 |
| 5.150% due 06/01/2052  | 13000 | 11066 |
| 6.000% due 10/01/2036  | 2000 | 2099 |
| 6.000% due 06/01/2054  | 13170 | 13514 |
| **SW Finance I PLC** <br>7.000% due 04/16/2040 | 19300 | 26169 |
| **System Energy Resources, Inc.**  |  |  |
| 5.300% due 12/15/2034  | $4100 | 4146 |
| 6.000% due 04/15/2028  | 5000 | 5193 |
| **Tampa Electric Co.** <br>4.450% due 06/15/2049 | 18500 | 15507 |
| **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** <br>4.875% due 02/01/2031 | 11280 | 11352 |
| **Toledo Edison Co.**  |  |  |
| 2.650% due 05/01/2028  | 16667 | 15868 |
| 6.150% due 05/15/2037  | 4900 | 5345 |
| **Union Electric Co.**  |  |  |
| 3.900% due 04/01/2052  | 31000 | 23865 |
| 5.125% due 03/15/2055  | 8300 | 7622 |
| 5.450% due 03/15/2053  | 15600 | 15046 |
| **Verizon Communications, Inc.**  |  |  |
| 2.987% due 10/30/2056  | 29357 | 17486 |
| 3.000% due 11/20/2060  | 500 | 293 |
| 3.400% due 03/22/2041 (m)  | 9422 | 7387 |
| 3.550% due 03/22/2051  | 100 | 71 |
| 3.700% due 03/22/2061  | 1400 | 946 |
| 3.850% due 11/01/2042  | 14860 | 11930 |
| 3.875% due 03/01/2052 (m)  | 29380 | 21785 |
| 4.272% due 01/15/2036  | 1000 | 937 |
| 4.862% due 08/21/2046  | 6470 | 5752 |
| 5.000% due 01/15/2036  | 12900 | 12795 |
| 5.050% due 05/09/2033  | 65 | 67 |
| 5.500% due 02/23/2054  | 1602 | 1539 |
| 5.750% due 11/30/2045  | 12100 | 12021 |
| 5.875% due 11/30/2055  | 9600 | 9491 |
| 6.000% due 11/30/2065  | 11300 | 11165 |
| **Virginia Electric & Power Co.**  |  |  |
| 3.800% due 09/15/2047  | 12700 | 9758 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 4.000% due 11/15/2046  | 10600 | 8443 |
| 4.600% due 12/01/2048  | 4744 | 4088 |
| 5.450% due 04/01/2053  | 6500 | 6212 |
| 5.600% due 09/15/2055  | 10000 | 9722 |
| 6.000% due 05/15/2037  | 400 | 431 |
| **Vistra Operations Co. LLC**  |  |  |
| 5.700% due 12/30/2034  | 3000 | 3099 |
| 6.000% due 04/15/2034  | 4100 | 4324 |
| 6.950% due 10/15/2033  | 5067 | 5662 |
| **Vodafone Group PLC**  |  |  |
| 5.750% due 06/28/2054  | 13673 | 13295 |
| 5.875% due 06/28/2064  | 17754 | 17263 |
| 6.250% due 11/30/2032  | 2650 | 2898 |
| 7.000% due 04/04/2079 •  | 5700 | 6042 |
| **Wisconsin Public Service Corp.**  |  |  |
| 2.850% due 12/01/2051  | 25500 | 16188 |
| 3.300% due 09/01/2049  | 3100 | 2165 |
| 3.671% due 12/01/2042  | 5210 | 4149 |
| **Xcel Energy, Inc.**  |  |  |
| 4.600% due 06/01/2032  | 9171 | 9126 |
| 6.500% due 07/01/2036  | 6900 | 7569 |
|  |  | 4356347 |
| Total Corporate Bonds & Notes (Cost $22,259,646) |  | 20364717 |
| **MUNICIPAL BONDS & NOTES 2.1%**  |  |  |
| **CALIFORNIA 0.7%**  |  |  |
| **Alameda County, California Joint Powers Authority Revenue Bonds, (BABs), Series 2010** <br>7.046% due 12/01/2044 | 7000 | 7924 |
| **Bay Area Toll Authority, California Revenue Bonds, (BABs), Series 2009** <br>6.263% due 04/01/2049 | 4800 | 5070 |
| **Bay Area Toll Authority, California Revenue Bonds, (BABs), Series 2010**  |  |  |
| 6.907% due 10/01/2050  | 28895 | 32746 |
| 7.043% due 04/01/2050  | 15775 | 18035 |
| **California Infrastructure & Economic Development Bank Revenue Bonds, (BABs), Series 2010** <br>6.486% due 05/15/2049 | 4500 | 4706 |
| **California State General Obligation Bonds, (BABs), (AGM/CR Insured), Series 2010** <br>6.875% due 11/01/2026 | 2550 | 2611 |
| **California State General Obligation Bonds, (BABs), Series 2009**  |  |  |
| 7.500% due 04/01/2034  | 4840 | 5651 |
| 7.550% due 04/01/2039  | 3607 | 4382 |
| **California State General Obligation Bonds, (BABs), Series 2010** <br>7.625% due 03/01/2040 | 7575 | 9142 |
| **California State Public Works Board Revenue Bonds, (BABs), Series 2010** <br>7.804% due 03/01/2035 | 9010 | 10070 |
| **California State University Revenue Bonds, (BABs), Series 2010** <br>6.484% due 11/01/2041 | 2000 | 2143 |
| **Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021**  |  |  |
| 3.000% due 06/01/2046  | 690 | 627 |
| 3.714% due 06/01/2041  | 14115 | 10987 |
| **Los Angeles County, California Public Works Financing Authority Revenue Bonds, (BABs), Series 2010**  |  |  |
| 7.488% due 08/01/2033  | 13140 | 14401 |
| 7.618% due 08/01/2040  | 5200 | 6185 |
| **Napa Valley Unified School District, California General Obligation Bonds, (BABs), Series 2010** <br>6.507% due 08/01/2043 | 2000 | 2147 |
| **Newport Beach, California Certificates of Participation Bonds, (BABs), Series 2010** <br>7.168% due 07/01/2040 | 875 | 981 |
| **Northern California Power Agency Revenue Bonds, (BABs), Series 2010** <br>7.311% due 06/01/2040 | 500 | 557 |
| **Regents of the University of California Medical Center Pooled Revenue Bonds, (BABs), Series 2009** <br>6.583% due 05/15/2049 | 4305 | 4599 |
| **Regents of the University of California Medical Center Pooled Revenue Bonds, (BABs), Series 2010** <br>6.548% due 05/15/2048 | 25100 | 26839 |
| **San Diego County, California Water Authority Revenue Bonds, (BABs), Series 2010** <br>6.138% due 05/01/2049 | 1795 | 1848 |
| **University of California Revenue Bonds, Series 2012** <br>4.858% due 05/15/2112 | 27844 | 23146 |
| **University of California Revenue Bonds, Series 2015** <br>4.767% due 05/15/2115 | 7803 | 6354 |
|  |  | 201151 |
| **GEORGIA 0.2%**  |  |  |
| **Municipal Electric Authority of Georgia Revenue Bonds, (BABs), Series 2010**  |  |  |
| 6.637% due 04/01/2057  | 2212 | 2395 |
| 6.655% due 04/01/2057  | 40737 | 44444 |
|  |  | 46839 |
| **ILLINOIS 0.1%**  |  |  |
| **Chicago Transit Authority, Illinois Revenue Bonds, (BABs), Series 2010** <br>6.200% due 12/01/2040 | 870 | 921 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **Chicago Transit Authority, Illinois Revenue Bonds, Series 2008** <br>6.899% due 12/01/2040 | 14433 | 16208 |
| **Illinois Municipal Electric Agency Revenue Bonds, (BABs), Series 2009** <br>6.832% due 02/01/2035 | 1080 | 1137 |
| **Wheaton College, Illinois Revenue Bonds, Series 2004** <br>6.090% due 10/01/2034 | 5000 | 5401 |
|  |  | 23667 |
| **INDIANA 0.0%**  |  |  |
| **Indiana Finance Authority Revenue Bonds, (BABs), Series 2009** <br>6.596% due 02/01/2039 | 1750 | 1949 |
| **MASSACHUSETTS 0.0%**  |  |  |
| **Massachusetts Port Authority Revenue Bonds, Series 2011** <br>6.202% due 07/01/2031 | 2360 | 2499 |
| **MICHIGAN 0.1%**  |  |  |
| **Michigan State University Revenue Bonds, Series 2022** <br>4.165% due 08/15/2122 | 16800 | 12037 |
| **University of Michigan Revenue Bonds, Series 2020**  |  |  |
| 2.437% due 04/01/2040  | 15000 | 11493 |
| 2.562% due 04/01/2050  | 7000 | 4406 |
| **University of Michigan Revenue Bonds, Series 2022** <br>4.454% due 04/01/2122 | 7400 | 5767 |
|  |  | 33703 |
| **NEVADA 0.0%**  |  |  |
| **Reno, Nevada Revenue Bonds, (NPFGC Insured), Series 2005** <br>0.000% due 06/01/2036 (e) | 6375 | 3832 |
| **NEW JERSEY 0.0%**  |  |  |
| **New Jersey Turnpike Authority Revenue Bonds, (BABs), Series 2010** <br>7.102% due 01/01/2041 | 920 | 1076 |
| **NEW MEXICO 0.0%**  |  |  |
| **New Mexico Hospital Equipment Loan Council Revenue Bonds, Series 2017** <br>4.406% due 08/01/2046 | 6100 | 5239 |
| **NEW YORK 0.3%**  |  |  |
| **New York City, New York Industrial Development Agency Revenue Bonds, (AGM Insured), Series 2006** <br>6.027% due 01/01/2046 | 460 | 453 |
| **New York State Dormitory Authority Revenue Bonds, (BABs), Series 2009** <br>5.427% due 03/15/2039 | 1140 | 1163 |
| **New York State Dormitory Authority Revenue Bonds, (BABs), Series 2010**  |  |  |
| 5.289% due 03/15/2033  | 452 | 457 |
| 5.389% due 03/15/2040  | 200 | 202 |
| **New York State Dormitory Authority Revenue Bonds, Series 2010** <br>5.051% due 09/15/2027 | 2735 | 2793 |
| **New York State Urban Development Corp. Revenue Bonds, (BABs), Series 2009** <br>5.770% due 03/15/2039 | 7370 | 7594 |
| **Port Authority of New York & New Jersey Revenue Bonds, Series 2010** <br>5.647% due 11/01/2040 | 500 | 533 |
| **Port Authority of New York & New Jersey Revenue Bonds, Series 2011** <br>4.926% due 10/01/2051 | 200 | 186 |
| **Port Authority of New York & New Jersey Revenue Bonds, Series 2012** <br>4.458% due 10/01/2062 | 84130 | 70605 |
| **Port Authority of New York & New Jersey Revenue Bonds, Series 2014** <br>5.310% due 08/01/2046 | 2800 | 2732 |
|  |  | 86718 |
| **OHIO 0.2%**  |  |  |
| **American Municipal Power, Inc., Ohio Revenue Bonds, (BABs),Series 2009** <br>6.449% due 02/15/2044 | 1000 | 1054 |
| **American Municipal Power, Inc., Ohio Revenue Bonds, Series 2010**  |  |  |
| 7.334% due 02/15/2028  | 890 | 921 |
| 7.734% due 02/15/2033  | 7325 | 8513 |
| 8.084% due 02/15/2050  | 40725 | 51264 |
| **Ohio State University Revenue Bonds, Series 2011** <br>4.800% due 06/01/2111 | 67 | 55 |
|  |  | 61807 |
| **PENNSYLVANIA 0.1%**  |  |  |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, (BABs), Series 2010** <br>6.532% due 06/15/2039 | 11500 | 12595 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **TEXAS 0.4%**  |  |  |
| **Dallas Convention Center Hotel Development Corp. Texas Revenue Bonds, (BABs), Series 2009** <br>7.088% due 01/01/2042 | 14000 | 15546 |
| **Dallas, Texas General Obligation Bonds, Series 2005**  |  |  |
| 0.000% due 02/15/2033 (e)  | 19795 | 14390 |
| 0.000% due 02/15/2035 (e)  | 8205 | 5355 |
| **Texas Natural Gas Securitization Finance Corp. Revenue Bonds, Series 2023**  |  |  |
| 5.102% due 04/01/2035  | 20933 | 21498 |
| 5.169% due 04/01/2041  | 25300 | 25827 |
| **Texas Transportation Commission State Highway Fund Revenue Bonds, (BABs), Series 2010** <br>5.178% due 04/01/2030 | 16000 | 16376 |
| **University of Texas System Revenue Bonds, Series 2020** <br>2.439% due 08/15/2049 | 8700 | 5424 |
|  |  | 104416 |
| **VIRGINIA 0.0%**  |  |  |
| **University of Virginia Revenue Bonds, (BABs), Series 2009** <br>6.200% due 09/01/2039 | 1245 | 1368 |
| **WISCONSIN 0.0%**  |  |  |
| **Milwaukee Redevelopment Authority, Wisconsin Revenue Bonds, (NPFGC Insured), Series 2003**  |  |  |
| 0.000% due 04/01/2036 (e)  | 1900 | 1135 |
| 0.000% due 04/01/2037 (e)  | 2150 | 1209 |
| 0.000% due 04/01/2038 (e)  | 2800 | 1477 |
| 0.000% due 04/01/2039 (e)  | 2500 | 1236 |
|  |  | 5057 |
| Total Municipal Bonds & Notes (Cost $618,683) |  | 591916 |
| **U.S. GOVERNMENT AGENCIES 14.3%**  |  |  |
| **Federal Home Loan Mortgage Corp.**<br>5.500% due 08/01/2054 - 01/01/2055 | 35075 | 35595 |
| **Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates**<br>4.304% due 10/25/2052 ~ | 17961 | 15630 |
| **Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates**<br>4.576% due 08/15/2032 ~ | 1 | 1 |
| **Federal National Mortgage Association**  |  |  |
| 3.500% due 12/01/2042 - 04/01/2049 | 5926 | 5586 |
| 4.000% due 10/01/2040 - 08/01/2049 | 535 | 517 |
| 5.500% due 10/01/2054 | 303 | 312 |
| **Government National Mortgage Association**  |  |  |
| 3.500% due 07/20/2052 - 07/20/2055 | 100618 | 91755 |
| 4.500% due 09/15/2033 | 3 | 3 |
| 8.500% due 09/15/2030 | 2 | 2 |
| **Government National Mortgage Association, TBA**  |  |  |
| 3.500% due 02/01/2056 | 200 | 182 |
| 4.000% due 01/01/2056 - 02/01/2056 | 171300 | 161800 |
| 4.500% due 02/01/2056 | 116600 | 113507 |
| 5.000% due 02/01/2056 | 123400 | 122983 |
| 6.000% due 02/01/2056 | 47800 | 48683 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 4.000% due 02/01/2056 | 831 | 788 |
| 4.500% due 01/01/2056 - 02/01/2056 | 1355938 | 1322758 |
| 5.000% due 01/01/2056 - 02/01/2056 | 1806549 | 1800065 |
| 6.000% due 02/01/2056 - 03/01/2056 | 300000 | 307910 |
| Total U.S. Government Agencies (Cost $4,014,626) |  | 4028077 |
| **U.S. TREASURY OBLIGATIONS 24.9%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 1.875% due 02/15/2051 | 221800 | 124013 |
| 2.000% due 02/15/2050 (o)(q) | 14100 | 8269 |
| 2.250% due 02/15/2052 (o)(q) | 84300 | 51176 |
| 2.375% due 02/15/2042 (m)(o) | 514700 | 379038 |
| 2.500% due 02/15/2045 (o) | 498818 | 353420 |
| 2.500% due 02/15/2046 (o)(q) | 185185 | 129015 |
| 2.500% due 05/15/2046 (o)(q) | 189000 | 131148 |
| 2.750% due 11/15/2042 (o) | 100000 | 76875 |
| 2.750% due 08/15/2047 (o) | 216500 | 154747 |
| 2.750% due 11/15/2047 (o) | 100512 | 71634 |
| 2.875% due 08/15/2045 (o) | 170392 | 127861 |
| 2.875% due 05/15/2049 (m)(o) | 633400 | 454638 |
| 2.875% due 05/15/2052 (o)(q) | 79743 | 55744 |
| 3.000% due 02/15/2048 (o) | 17600 | 13102 |
| 3.000% due 08/15/2048 (o) | 207264 | 153521 |
| 3.000% due 02/15/2049 | 151900 | 111937 |
| 3.125% due 02/15/2043 (m)(o) | 321900 | 260450 |
| 3.125% due 05/15/2048 (o)(q) | 91885 | 69815 |
| 3.250% due 05/15/2042 (o) | 156686 | 130723 |
| 3.375% due 08/15/2042 (o)(q) | 122000 | 103157 |
| 3.375% due 11/15/2048 (o)(q) | 57500 | 45510 |
| 3.750% due 08/15/2041 | 75600 | 68158 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 3.875% due 02/15/2043 (o)(q) | 128300 | 115462 |
| 3.875% due 05/15/2043 (m)(o) | 176200 | 158119 |
| 4.000% due 11/15/2042 | 184350 | 169029 |
| 4.000% due 11/15/2052 (o)(q) | 210654 | 182771 |
| 4.250% due 02/15/2054 (o) | 189500 | 171379 |
| 4.250% due 08/15/2054 (m) | 138500 | 125264 |
| 4.375% due 05/15/2041 | 153100 | 149225 |
| 4.375% due 08/15/2043 | 183831 | 175652 |
| 4.500% due 11/15/2054 (m)(o)(q) | 502600 | 474211 |
| 4.625% due 11/15/2044 (m) | 11700 | 11469 |
| 4.625% due 11/15/2045 (m) | 230800 | 225571 |
| 4.625% due 05/15/2054 (o)(q) | 351800 | 338910 |
| 4.625% due 02/15/2055 (m) | 539600 | 519913 |
| 4.625% due 11/15/2055 | 61000 | 58779 |
| 4.750% due 02/15/2045 (m) | 18800 | 18710 |
| 4.750% due 05/15/2055 (m) | 182890 | 179761 |
| 4.750% due 08/15/2055 (m) | 742850 | 730547 |
| 4.875% due 08/15/2045 (m) | 37357 | 37731 |
| **U.S. Treasury Notes**  |  |  |
| 4.250% due 08/15/2035 (m)(o)(q) | 23491 | 23664 |
| **U.S. Treasury STRIPS**  |  |  |
| 0.000% due 11/15/2041 (a) | 35800 | 16474 |
| 0.000% due 02/15/2042 (a)(o) | 17670 | 8010 |
| 0.000% due 05/15/2042 (a) | 21000 | 9373 |
| 0.000% due 11/15/2042 (a) | 26900 | 11673 |
| Total U.S. Treasury Obligations (Cost $7,824,706) |  | 6985648 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 1.8%**  |  |  |
| **1166 Avenue of the Americas Commercial Mortgage Trust II** <br>5.690% due 10/13/2037 | 20220 | 17593 |
| **Bank** <br>2.283% due 09/15/2064 | 7400 | 7013 |
| **BX Commercial Mortgage Trust** <br>4.763% due 02/15/2039 •  | 2277 | 2275 |
| **CHL Mortgage Pass-Through Trust** <br>4.506% due 02/25/2035 •  | 6 | 6 |
| **CSMC Trust** <br>5.265% due 07/15/2038 •  | 3000 | 2687 |
| **DC Commercial Mortgage Trust** <br>6.314% due 09/12/2040 | 2000 | 2061 |
| **GS Mortgage-Backed Securities Trust** <br>4.694% due 10/01/2075 «(b) | 138000 | 139237 |
| **JP Morgan Chase Commercial Mortgage Securities Trust**  |  |  |
| 2.287% due 03/05/2042  | 6910 | 6507 |
| 4.248% due 07/05/2033  | 6100 | 5818 |
| 4.597% due 04/15/2037 •  | 939 | 928 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 4.883% due 01/25/2029 •  | 8 | 8 |
| 5.290% due 03/25/2028 •  | 2 | 2 |
| **Natixis Commercial Mortgage Securities Trust** <br>3.821% due 02/15/2039 | 9900 | 9326 |
| **New Residential Mortgage Loan Trust**  |  |  |
| 2.750% due 11/25/2059 ~  | 6415 | 6204 |
| 6.864% due 10/25/2063 þ  | 4474 | 4527 |
| **One New York Plaza Trust** <br>4.815% due 01/15/2036 •  | 8000 | 7848 |
| **PMT Loan Trust** <br>5.224% due 08/25/2056 •  | 628 | 628 |
| **PRKCM Trust** <br>7.225% due 11/25/2058 þ | 759 | 769 |
| **Project Cashmere**  |  |  |
| 4.543% due 12/30/2057 «(b)  | 389700 | 260066 |
| 5.713% due 12/30/2057 «(b)  | 13000 | 8676 |
| 5.863% due 12/30/2057 «(b)  | 9100 | 6073 |
| 6.163% due 12/30/2057 «(b)  | 4800 | 3203 |
| 6.563% due 12/30/2057 «(b)  | 3500 | 2336 |
| **Structured Adjustable Rate Mortgage Loan Trust** <br>5.046% due 09/25/2034 ~ | $24 | 24 |
| **Towd Point Mortgage Trust** <br>4.846% due 05/25/2058 •  | 680 | 693 |
| **VASA Trust** <br>4.765% due 07/15/2039 •  | 1000 | 987 |
| Total Non-Agency Mortgage-Backed Securities (Cost $493,815) |  | 495495 |
| **ASSET-BACKED SECURITIES 0.3%**  |  |  |
| **CMBS OTHER 0.1%**  |  |  |
| **Arbor Realty Commercial Real Estate Notes Ltd.** <br>5.215% due 11/15/2036 •  | 6564 | 6607 |
| **MF1 LLC** <br>5.468% due 03/19/2039 •  | 1000 | 1003 |
| **MF1 Ltd.** <br>4.929% due 10/16/2036 •  | 3686 | 3684 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| **PFP Ltd.** <br>5.610% due 09/17/2039 •  | 2550 | 2558 |
|  |  | 13852 |
| **HOME EQUITY OTHER 0.0%**  |  |  |
| **Finance America Mortgage Loan Trust** <br>4.716% due 11/25/2034 •  | 2771 | 2849 |
| **Morgan Stanley ABS Capital I, Inc. Trust** <br>4.701% due 03/25/2034 •  | 1654 | 1702 |
| **Soundview Home Loan Trust** <br>4.306% due 06/25/2036 •  | 3656 | 3565 |
|  |  | 8116 |
| **OTHER ABS 0.2%**  |  |  |
| **AIM Aviation Finance Ltd.** <br>6.213% due 02/15/2040 þ | 3985 | 3912 |
| **Atlas Senior Loan Fund XV Ltd.** <br>5.080% due 10/23/2032 •  | 4648 | 4651 |
| **BlueMountain CLO Ltd.** <br>5.048% due 10/25/2030 •  | 4704 | 4710 |
| **Dryden 54 Senior Loan Fund** <br>5.034% due 10/19/2029 •  | 1724 | 1726 |
| **KDAC Aviation Finance Ltd.** <br>4.212% due 12/15/2042 | 1646 | 1645 |
| **KKR CLO 11 Ltd.** <br>5.346% due 01/15/2031 •  | 1296 | 1297 |
| **Labrador Aviation Finance Ltd.** <br>4.300% due 01/15/2042 | 7597 | 7607 |
| **Madison Park Funding XXXV Ltd.** <br>5.136% due 04/20/2032 •  | 1363 | 1364 |
| **METAL LLC** <br>4.581% due 10/15/2042 | 9301 | 6510 |
| **Octagon Investment Partners 39 Ltd.** <br>5.034% due 10/20/2030 •  | 1776 | 1778 |
| **Pikes Peak CLO 2** <br>5.104% due 10/11/2034 •  | 3000 | 3003 |
| **Pikes Peak CLO 4** <br>5.115% due 07/15/2034 •  | 3000 | 3003 |
| **Start II Ltd.** <br>4.089% due 03/15/2044 | 2406 | 2400 |
| **TIAA CLO IV Ltd.** <br>5.024% due 01/20/2032 •  | 822 | 822 |
| **VB-S1 Issuer LLC** <br>3.706% due 02/15/2057 | 7100 | 6503 |
| **Venture 36 CLO Ltd.** <br>5.276% due 04/20/2032 •  | 3634 | 3637 |
| **Venture XIX CLO Ltd.** <br>5.426% due 01/15/2032 •  | 1052 | 1053 |
| **Voya CLO Ltd.**  |  |  |
| 5.084% due 07/20/2032 •  | 2974 | 2976 |
| 5.223% due 10/17/2032 •  | 1550 | 1551 |
|  |  | 60148 |
| Total Asset-Backed Securities (Cost $85,073) |  | 82116 |
| **SOVEREIGN ISSUES 4.3%**  |  |  |
| **Abu Dhabi Government International Bonds**  |  |  |
| 2.700% due 09/02/2070  | 37100 | 20871 |
| 3.125% due 04/16/2030  | 13700 | 13302 |
| 3.125% due 09/30/2049  | 5200 | 3718 |
| 3.875% due 04/16/2050  | 12600 | 10151 |
| **Brazil Government International Bonds** <br>5.000% due 01/27/2045 | 46630 | 37523 |
| **Cassa Depositi e Prestiti SpA** <br>5.875% due 04/30/2029 | 11500 | 12134 |
| **Chile Government International Bonds** <br>4.000% due 01/31/2052 | 3200 | 2545 |
| **Colombia TES**  |  |  |
| 11.000% due 08/22/2029  | 187697600 | 46976 |
| 11.750% due 01/24/2035  | 178589300 | 44034 |
| 12.750% due 11/28/2040  | 189266600 | 49140 |
| 13.250% due 02/09/2033  | 163837700 | 43957 |
| **Israel Government International Bonds**  |  |  |
| 3.875% due 07/03/2050  | $18000 | 13239 |
| 4.125% due 01/17/2048  | 13300 | 10438 |
| 4.500% due 04/03/2120  | 4600 | 3444 |
| 5.375% due 03/12/2029  | 5000 | 5153 |
| 5.375% due 02/19/2030  | 17400 | 18019 |
| 5.500% due 03/12/2034  | 5000 | 5186 |
| 5.750% due 03/12/2054  | 20000 | 19280 |
| **Mexico Government International Bonds**  |  |  |
| 3.500% due 09/19/2029  | 5500 | 6449 |
| 3.771% due 05/24/2061  | $59442 | 36809 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| 4.500% due 03/19/2034  | 4400 | 5155 |
| 4.750% due 03/22/2031  | $15000 | 14865 |
| 5.125% due 03/19/2038  | 1700 | 1988 |
| 5.375% due 03/22/2033  | $4800 | 4774 |
| 5.625% due 09/22/2035  | 9600 | 9480 |
| 6.338% due 05/04/2053  | 1564 | 1495 |
| 6.400% due 05/07/2054  | 25000 | 24100 |
| 6.875% due 05/13/2037  | 8200 | 8770 |
| 7.375% due 05/13/2055  | 3100 | 3347 |
| **Mexico Udibonos**  |  |  |
| 2.750% due 11/27/2031 (g)  | 1213 | 61 |
| 4.000% due 11/30/2028 (g)  | 40342 | 2231 |
| 4.000% due 08/24/2034 (g)  | 364 | 19 |
| **Peru Government Bonds**  |  |  |
| 5.350% due 08/12/2040  | 2700 | 713 |
| 5.400% due 08/12/2034  | 21100 | 6265 |
| 7.300% due 08/12/2033  | 192055 | 65204 |
| **Peru Government International Bonds**  |  |  |
| 5.375% due 02/08/2035  | $1800 | 1843 |
| 5.400% due 08/12/2034  | 365300 | 108457 |
| 5.875% due 08/08/2054 (m)  | $1400 | 1391 |
| 6.150% due 08/12/2032  | 121496 | 39007 |
| 6.900% due 08/12/2037  | 3900 | 1215 |
| 6.950% due 08/12/2031  | 88832 | 29383 |
| **Qatar Government International Bonds**  |  |  |
| 4.400% due 04/16/2050  | $6800 | 6029 |
| 5.103% due 04/23/2048  | 28900 | 28594 |
| **Queensland Treasury Corp.** <br>1.500% due 08/20/2032 | 43400 | 23393 |
| **Republic of Poland Government International Bonds** <br>5.500% due 04/04/2053 | $12400 | 11940 |
| **Republic of South Africa Government International Bonds**  |  |  |
| 4.850% due 09/30/2029  | 7300 | 7314 |
| 5.750% due 09/30/2049  | 38900 | 32833 |
| **Romania Government International Bonds**  |  |  |
| 1.750% due 07/13/2030  | 9100 | 9673 |
| 2.875% due 04/13/2042  | 9100 | 7066 |
| 3.750% due 02/07/2034  | 2900 | 3073 |
| 5.250% due 03/10/2030  | 12700 | 15619 |
| 5.250% due 05/30/2032  | 8700 | 10459 |
| 5.625% due 02/22/2036  | 4900 | 5703 |
| 5.625% due 05/30/2037  | 9700 | 11109 |
| **Saudi Government International Bonds**  |  |  |
| 3.375% due 03/05/2032  | 5000 | 5909 |
| 3.450% due 02/02/2061  | $13100 | 8378 |
| 3.750% due 03/05/2037  | 7100 | 8211 |
| 4.500% due 10/26/2046  | $47700 | 40829 |
| 4.625% due 10/04/2047  | 14800 | 12854 |
| 5.000% due 04/17/2049  | 15000 | 13587 |
| 5.000% due 01/18/2053  | 25000 | 22292 |
| 5.125% due 01/13/2028  | 20000 | 20443 |
| 5.375% due 01/13/2031  | 20000 | 20986 |
| 5.750% due 01/16/2054  | 34400 | 34055 |
| **State of Israel** <br>3.800% due 05/13/2060 | 2100 | 1422 |
| **U.K. Gilts** <br>4.375% due 07/31/2054 | 101327 | 119899 |
| **Ukraine Government International Bonds**  |  |  |
| 0.000% due 02/01/2030 þ(f)  | $25 | 15 |
| 0.000% due 02/01/2034 þ(f)  | 93 | 44 |
| 0.000% due 02/01/2035 þ(f)  | 79 | 45 |
| 0.000% due 02/01/2036 þ(f)  | 65 | 37 |
| 4.500% due 02/01/2034 þ  | 137 | 84 |
| 4.500% due 02/01/2035 þ  | 182 | 109 |
| 4.500% due 02/01/2036 þ  | 137 | 81 |
| Total Sovereign Issues (Cost $1,248,105) |  | 1214216 |
|  | SHARES |  |
| **COMMON STOCKS 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **Foresea Holdings SA «** | 179471 | 4050 |
| **REAL ESTATE 0.0%**  |  |  |
| **MNSN Holdings, Inc. «(c)(k)** | 14866 | 743 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
| Total Common Stocks (Cost $3,878) |  | 4793 |
| **CONVERTIBLE PREFERRED SECURITIES 0.1%**  |  |  |
| **BANKING & FINANCE 0.1%**  |  |  |
| **Wells Fargo & Co.**<br>7.500% | 20200 | 24482 |
| Total Convertible Preferred Securities (Cost $24,500) |  | 24482 |
| **PREFERRED SECURITIES 2.5%**  |  |  |
| **BANKING & FINANCE 2.5%**  |  |  |
| **American Express Co.**<br>3.550% due 09/15/2026 (h) | 6400000 | 6317 |
| **Banco Santander SA**<br>8.000% due 02/01/2034 (h)(i) | 15000000 | 16604 |
| **Bank of America Corp.**<br>5.875% due 03/15/2028 (h) | 93500000 | 94508 |
| **Capital One Financial Corp.**<br>3.950% due 09/01/2026 (h) | 5700000 | 5634 |
| **Charles Schwab Corp.**  |  |  |
| 4.000% due 06/01/2026 (h) | 11000000 | 10931 |
| 4.000% due 12/01/2030 (h) | 57000000 | 53280 |
| 5.000% due 12/01/2027 (h) | 8150000 | 7998 |
| **Citigroup, Inc.**  |  |  |
| 3.875% due 02/18/2026 (h) | 40000000 | 39906 |
| 6.875% due 12/31/2099 | 29000000 | 29685 |
| 6.950% due 02/15/2030 (h) | 26469000 | 27277 |
| 7.000% due 08/15/2034 (h) | 17100000 | 18014 |
| 7.125% due 08/15/2029 (h)(m) | 9000000 | 9287 |
| 7.200% due 05/15/2029 (h) | 9400000 | 9706 |
| 7.625% due 11/15/2028 (h) | 5100000 | 5345 |
| **CoBank ACB**  |  |  |
| 4.250% due 01/01/2027 (h) | 12600000 | 12370 |
| 6.450% due 10/01/2027 (h) | 15000000 | 15120 |
| 7.125% due 01/01/2030 (h) | 15000000 | 15576 |
| **Depository Trust & Clearing Corp.**<br>3.375% due 06/20/2026 (h) | 8500000 | 8388 |
| **Farm Credit Bank of Texas**  |  |  |
| 7.000% due 09/15/2030 (h) | 5400000 | 5571 |
| 7.750% due 06/15/2029 (h) | 4000000 | 4197 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 3.650% due 08/10/2026 (h) | 21900000 | 21607 |
| 6.125% due 11/10/2034 (h)(m) | 32000000 | 32612 |
| 6.850% due 02/10/2030 (h) | 15000000 | 15611 |
| 7.500% due 02/10/2029 (h) | 3500000 | 3715 |
| 7.500% due 05/10/2029 (h) | 10000000 | 10590 |
| **JPMorgan Chase & Co.**  |  |  |
| 3.650% due 06/01/2026 (h) | 26000000 | 25867 |
| 4.625% due 06/01/2026 (h) | 829000 | 16282 |
| 6.406% (TSFR3M + 2.745%) due 04/01/2026 (h) | 12700000 | 12727 |
| 6.500% due 04/01/2030 (h) | 41000000 | 42583 |
| 6.875% due 06/01/2029 (h) | 18050000 | 19067 |
| **MetLife Capital Trust IV**<br>7.875% due 12/15/2067 | 23640000 | 26232 |
| **PNC Financial Services Group, Inc.**  |  |  |
| 3.400% due 09/15/2026 (h) | 2700000 | 2648 |
| 6.250% due 03/15/2030 (h) | 1100000 | 1136 |
| **State Street Corp.**<br>6.700% due 03/15/2029 (h) | 11900000 | 12375 |
| **U.S. Bancorp**<br>5.300% due 04/15/2027 (h) | 13555000 | 13607 |
| **Wells Fargo & Co.**  |  |  |
| 3.900% due 03/15/2026 (h) | 26874000 | 26799 |
| 6.850% due 09/15/2029 (h) | 20000000 | 20922 |
|  |  | 700094 |
| **INDUSTRIALS 0.0%**  |  |  |
| **SVB Financial Trust**  |  |  |
| 0.000% due 11/07/2032 (e) | 516000 | 67 |
| 11.000% due 11/07/2032 | 16945 | 8074 |
|  |  | 8141 |
| Total Preferred Securities (Cost $725,393) |  | 708235 |
| **SHORT-TERM INSTRUMENTS 0.3%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.850% (j) | 8171423 | 8171 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 0 | 164 | 208 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **REPURCHASE AGREEMENTS (l) 0.3%** |  | 83304 |
| **U.S. TREASURY BILLS 0.0%**  |  |  |
| 3.687% due 01/27/2026 - 04/21/2026 (d)(e)(q) | 5901 | 5851 |
| Total Short-Term Instruments (Cost $97,325) |  | 97326 |
| Total Investments in Securities (Cost $37,483,731) |  | 34684713 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 0.0%**  |  |  |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 930342 | 9062 |
| Total Short-Term Instruments (Cost $9,062) |  | 9062 |
| Total Investments in Affiliates (Cost $9,062) |  | 9062 |
| Total Investments 123.4% (Cost $37,492,793) |  | $34693775 |
| **Financial Derivative Instruments (n)(p) (0.0)**%(Cost or Premiums, net $609,046) |  | (11853) |
| Other Assets and Liabilities, net (23.4)% |  | (6568717) |
| Net Assets 100.0% |  | $28113205 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 47 | 137 | 151 | 177 | 198 | 216 | 223 | 230 |
| **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.** |
| **¤** | **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).** |
| **~** | **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.** |
| **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.** |
| **(a)** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** |
| **(b)** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** |
| **(c)** | **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.** |
| **(d)** | **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.** |
| **(e)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(f)** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** |
| **(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.** |
| **(h)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **(i)** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** |
| **(j)** | **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.** |
| **(k)** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** |
| Issuer Description | Issuer Description | Acquisition<br>Date | Cost | Cost | Market<br>Value | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets | Market Value<br>as Percentage<br>of Net Assets |
| Alfa-Bank CJSC 6.330% due 10/21/2026 | Alfa-Bank CJSC 6.330% due 10/21/2026 | 10/27/2025 | 5932 | 5932 | 5932 | 5932 | 0.02 | % |
| Constellation Pharmaceutical, Inc. 5.550% due 07/01/2033 | Constellation Pharmaceutical, Inc. 5.550% due 07/01/2033 | 01/16/2025 | 9694 | 9694 | 10074 | 10074 | 0.04 |  |
| Credit Opportunities Partners LLC 6.520% due 03/20/2028 | Credit Opportunities Partners LLC 6.520% due 03/20/2028 | 03/20/2025 | 6900 | 6900 | 6983 | 6983 | 0.02 |  |
| Credit Opportunities Partners LLC 6.740% due 03/20/2030 | Credit Opportunities Partners LLC 6.740% due 03/20/2030 | 02/20/2025 | 8200 | 8200 | 8353 | 8353 | 0.03 |  |
| Dorchester LLC 4.349% due 01/04/2027 | Dorchester LLC 4.349% due 01/04/2027 | 12/10/2025 | 13097 | 13097 | 13162 | 13162 | 0.05 |  |
| Hardwood Funding LLC 4.840% due 06/07/2028 | Hardwood Funding LLC 4.840% due 06/07/2028 | 03/11/2025 | 2600 | 2600 | 2628 | 2628 | 0.01 |  |
| Hardwood Funding LLC 4.980% due 06/07/2030 | Hardwood Funding LLC 4.980% due 06/07/2030 | 03/11/2025 | 1700 | 1700 | 1729 | 1729 | 0.01 |  |
| Hardwood Funding LLC 5.160% due 06/07/2032 | Hardwood Funding LLC 5.160% due 06/07/2032 | 03/11/2025 | 4200 | 4200 | 4296 | 4296 | 0.02 |  |
| MNSN Holdings, Inc. | MNSN Holdings, Inc. | 04/26/2022 | 289 | 289 | 743 | 743 | 0.00 |  |
| Morgan Stanley 0.000% due 04/02/2032 | Morgan Stanley 0.000% due 04/02/2032 | 02/11/2020 - 08/23/2021 | 55651 | 55651 | 45551 | 45551 | 0.16 |  |
| National Football League 5.250% due 10/05/2034 | National Football League 5.250% due 10/05/2034 | 06/27/2025 | 34600 | 34600 | 35284 | 35284 | 0.12 |  |
| National Football League 5.420% due 10/05/2037 | National Football League 5.420% due 10/05/2037 | 06/27/2025 | 12000 | 12000 | 12130 | 12130 | 0.04 |  |
| National Football League 5.580% due 10/05/2033 | National Football League 5.580% due 10/05/2033 | 03/14/2024 | 10000 | 10000 | 10209 | 10209 | 0.04 |  |
| National Football League 5.680% due 10/05/2035 | National Football League 5.680% due 10/05/2035 | 03/14/2024 | 5000 | 5000 | 5079 | 5079 | 0.02 |  |
| National Football League 5.890% due 10/05/2043 | National Football League 5.890% due 10/05/2043 | 03/14/2024 | 5000 | 5000 | 4960 | 4960 | 0.02 |  |
| Pantheon Senior Debt Secondaries III 6.026% due 03/26/2026 | Pantheon Senior Debt Secondaries III 6.026% due 03/26/2026 | 03/18/2025 | 8700 | 8700 | 8700 | 8700 | 0.03 |  |
| Pinnacol Assurance 8.625% due 06/25/2034 | Pinnacol Assurance 8.625% due 06/25/2034 | 06/23/2014 | 24000 | 24000 | 25940 | 25940 | 0.09 |  |
| Project Alpha Investindustrial 4.150% due 02/27/2026 | Project Alpha Investindustrial 4.150% due 02/27/2026 | 02/28/2025 | 5392 | 5392 | 6108 | 6108 | 0.02 |  |
| Royal Bank of Scotland International Ltd. 4.660% due 12/16/2028 | Royal Bank of Scotland International Ltd. 4.660% due 12/16/2028 | 11/18/2025 | 30000 | 30000 | 29974 | 29974 | 0.11 |  |
|  |  | $ | 242955 | $ | 237835 | 0.85% | 0.85% | 0.85% |
| **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** |
| **(l)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value |  | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | $73800 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 11/30/2030 | (75270) | $73800 | $ | $73800 | 73800 |
|  | 3700 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2031 | (3768) | 3700 |  | 3701 | 3701 |
| DEU | 5804 | &nbsp;&nbsp; U.S. Treasury Bonds 4.625% due 11/15/2045 | &nbsp;&nbsp; U.S. Treasury Bonds 4.625% due 11/15/2045 | (5802) | 5804 |  | 5805 | 5805 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  | **(84840)** | $**83304** | **$** | $**83306** | **83306** |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 3 | 42 | 82 | 121 | 155 | 164 | 208 |
| **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 | Borrowing Rate<sup>(2)</sup> | Settlement Date | Maturity Date |  | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| BOO | BOO | 3.100%  | 12/30/2025 | 01/05/2026 | $ | (11243) | (11246) |
|  |  | 3.740  | 01/02/2026 | 01/05/2026 |  | (100625) | (100625) |
| BOS | BOS | 3.200  | 12/12/2025 | 03/04/2026 |  | (2796) | (2801) |
| BPS | BPS | 3.750  | 12/12/2025 | TBD<sup>(3)</sup> |  | (8976) | (8996) |
| BRC | BRC | (1.750)  | 12/12/2025 | TBD<sup>(3)</sup> |  | (2764) | (2767) |
|  |  | 1.750  | 12/12/2025 | TBD<sup>(3)</sup> |  | (790) | (790) |
|  |  | 2.500  | 12/12/2025 | TBD<sup>(3)</sup> |  | (1091) | (1093) |
|  |  | 2.650  | 12/19/2025 | TBD<sup>(3)</sup> | GBP | (1794) | (2421) |
|  |  | 2.750  | 12/12/2025 | TBD<sup>(3)</sup> | $ | (3746) | (3752) |
|  |  | 3.000  | 12/12/2025 | 01/30/2026 |  | (5255) | (5265) |
|  |  | 3.000  | 12/12/2025 | TBD<sup>(3)</sup> |  | (2750) | (2755) |
|  |  | 3.350  | 12/12/2025 | TBD<sup>(3)</sup> |  | (27641) | (27695) |
|  |  | 3.450  | 12/12/2025 | TBD<sup>(3)</sup> |  | (9358) | (9376) |
|  |  | 3.550  | 12/12/2025 | TBD<sup>(3)</sup> |  | (17221) | (17257) |
|  |  | 3.650  | 12/12/2025 | TBD<sup>(3)</sup> |  | (95920) | (96124) |
|  |  | 3.820  | 01/02/2026 | 01/05/2026 |  | (25213) | (25213) |
| BSN | BSN | 3.930  | 12/18/2025 | 01/02/2026 |  | (38384) | (38447) |
| DEU | DEU | 3.600  | 12/31/2025 | 01/02/2026 |  | (6015) | (6016) |
| JML | JML | 2.750  | 12/19/2025 | TBD<sup>(3)</sup> | GBP | (3693) | (4983) |
|  |  | 3.400  | 12/12/2025 | TBD<sup>(3)</sup> | $ | (656) | (658) |
| JPS | JPS | 3.500  | 12/12/2025 | 01/30/2026 |  | (673) | (675) |
|  |  | 3.550  | 12/12/2025 | 01/30/2026 |  | (34286) | (34357) |
|  |  | 3.630  | 12/12/2025 | 01/30/2026 |  | (6971) | (6986) |
|  |  | 3.810  | 01/02/2026 | 01/07/2026 |  | (11928) | (11928) |
|  |  | 3.880  | 12/31/2025 | 01/05/2026 |  | (191961) | (192002) |
|  |  | 3.890  | 12/22/2025 | 01/05/2026 |  | (270310) | (270631) |
| MEI | MEI | 2.000  | 12/12/2025 | 03/04/2026 |  | (7370) | (7379) |
| MSC | MSC | 3.000  | 12/12/2025 | 01/30/2026 |  | (5492) | (5501) |
|  |  | 3.250  | 12/12/2025 | 01/30/2026 |  | (1526) | (1528) |
| MYI | MYI | 3.600  | 12/12/2025 | TBD<sup>(3)</sup> |  | (606) | (607) |
| NOM | NOM | 1.750  | 12/12/2025 | TBD<sup>(3)</sup> |  | (693) | (694) |
|  |  | 2.750  | 12/12/2025 | TBD<sup>(3)</sup> |  | (1035) | (1037) |
|  |  | 3.400  | 12/12/2025 | TBD<sup>(3)</sup> |  | (4400) | (4408) |
|  |  | 3.550  | 12/12/2025 | TBD<sup>(3)</sup> |  | (3740) | (3748) |
| NXN | NXN | 3.820  | 01/02/2026 | 01/09/2026 |  | (1621046) | (1621046) |
|  |  | 3.930  | 12/18/2025 | 01/02/2026 |  | (1646832) | (1649528) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  | **(4180335)** |
| **SALE-BUYBACK TRANSACTIONS:** | **SALE-BUYBACK TRANSACTIONS:** | **SALE-BUYBACK TRANSACTIONS:** | **SALE-BUYBACK TRANSACTIONS:** | **SALE-BUYBACK TRANSACTIONS:** | **SALE-BUYBACK TRANSACTIONS:** | **SALE-BUYBACK TRANSACTIONS:** | **SALE-BUYBACK TRANSACTIONS:** |
| Counterparty | Counterparty | Borrowing Rate<sup>(2)</sup> | Borrowing Date | Maturity Date |  | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Sale-Buyback<br>Transactions<sup>(4)</sup> |
| GSC | GSC | 3.950%  | 12/23/2025 | 01/02/2026 | $ | (2680) | (2682) |
|  |  | 3.950  | 12/23/2025 | 01/07/2026 |  | (3126) | (3130) |
| MSC | MSC | 3.910  | 12/31/2025 | 01/26/2026 |  | (1075) | (1075) |
| TDM | TDM | 3.900  | 12/23/2025 | 01/02/2026 |  | (14142) | (14157) |
| UBS | UBS | 3.890  | 12/24/2025 | 01/22/2026 |  | (148378) | (148523) |
|  |  | 3.890  | 12/31/2025 | 01/12/2026 |  | (496) | (496) |
|  |  | 3.890  | 12/31/2025 | 01/21/2026 |  | (6944) | (6946) |
|  |  | 3.890  | 12/31/2025 | 01/22/2026 |  | (1075) | (1075) |
|  |  | 3.890  | 12/31/2025 | 01/26/2026 |  | (827) | (827) |
|  |  | 3.940  | 12/24/2025 | 01/08/2026 |  | (6677) | (6684) |
|  |  | 3.940  | 12/31/2025 | 01/08/2026 |  | (248) | (248) |
| **Total Sale-Buyback Transactions** | **Total Sale-Buyback Transactions** |  |  |  |  |  | **(185843)** |
| **(m)** | **Securities with an aggregate market value of $2,589,363 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,589,363 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,589,363 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,589,363 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,589,363 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,589,363 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,589,363 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |
| <sup>(2)</sup> | The average amount of borrowings outstanding during the period ended December 31, 2025 was $(2768318) at a weighted average interest rate of 4.268%. 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 December 31, 2025 was $(2768318) at a weighted average interest rate of 4.268%. 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 December 31, 2025 was $(2768318) at a weighted average interest rate of 4.268%. 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 December 31, 2025 was $(2768318) at a weighted average interest rate of 4.268%. 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 December 31, 2025 was $(2768318) at a weighted average interest rate of 4.268%. 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 December 31, 2025 was $(2768318) at a weighted average interest rate of 4.268%. 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 December 31, 2025 was $(2768318) at a weighted average interest rate of 4.268%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| <sup>(3)</sup> | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. |
| <sup>(4)</sup> | Payable for sale-buyback transactions includes $(349) of deferred price drop. | Payable for sale-buyback transactions includes $(349) of deferred price drop. | Payable for sale-buyback transactions includes $(349) of deferred price drop. | Payable for sale-buyback transactions includes $(349) of deferred price drop. | Payable for sale-buyback transactions includes $(349) of deferred price drop. | Payable for sale-buyback transactions includes $(349) of deferred price drop. | Payable for sale-buyback transactions includes $(349) of deferred price drop. |
| **(n)** | **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** |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 6 | 24 | 36 | 40 | 59 | 68 | 81 | 99 | 103 | 136 | 151 | 169 | 184 | 194 | 205 | 224 |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** |
| Description | Description | Description | Description | Description | Description | Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional Amount | Notional Amount | Premiums<br>(Received) | Premiums<br>(Received) |  | Market<br>Value |
| Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | $111.500 | 111.500 | 01/23/2026 | 1637 | $1637 | 1637 | (273) | (273) | $ | (256) |
| Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | 112.000 | 112.000 | 01/23/2026 | 631 | 631 | 631 | (108) | (108) |  | (200) |
| Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | 113.500 | 113.500 | 01/23/2026 | 2268 | 2268 | 2268 | (438) | (438) |  | (175) |
| Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | 127.500 | 127.500 | 01/23/2026 | 167 | 167 | 167 | (85) | (85) |  | (118) |
| Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | 130.500 | 130.500 | 01/23/2026 | 167 | 167 | 167 | (90) | (90) |  | (8) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **(994)** | **(994)** | **$** | **(757)** |
| **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **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** | **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> | <u>Variation Margin</u> |
| Description | Description | Description |  | 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  | 03/2027 | 03/2027 | 4153 | 4153 | 1005960 | 1005960 | $9053 | 9053 | 9053 | 0 | 0 | 0 | (259) |
| 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  | 03/2028 | 03/2028 | 7248 | 7248 | 1753019 | 1753019 | 14820 | 14820 | 14820 | 0 | 0 | 0 | (544) |
| Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | Australia Government 10-Year Bond March Futures  | 03/2026 | 03/2026 | 1329 | 1329 | 97102 | 97102 | 202 | 202 | 202 | 111 | 111 | 111 | 0 |
| Euro-Bobl March Futures  | Euro-Bobl March Futures  | Euro-Bobl March Futures  | Euro-Bobl March Futures  | 03/2026 | 03/2026 | 137 | 137 | 18702 | 18702 | (134) | (134) | (134) | 0 | 0 | 0 | (13) |
| Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | 03/2026 | 03/2026 | 247 | 247 | 37030 | 37030 | (513) | (513) | (513) | 0 | 0 | 0 | (67) |
| Japan Government 10-Year Bond March Futures  | Japan Government 10-Year Bond March Futures  | Japan Government 10-Year Bond March Futures  | Japan Government 10-Year Bond March Futures  | 03/2026 | 03/2026 | 204 | 204 | 172444 | 172444 | (1132) | (1132) | (1132) | 0 | 0 | 0 | (378) |
| Long Guilt March Futures  | Long Guilt March Futures  | Long Guilt March Futures  | Long Guilt March Futures  | 03/2026 | 03/2026 | 998 | 998 | 122916 | 122916 | 954 | 954 | 954 | 215 | 215 | 215 | (94) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 5312 | 5312 | 597268 | 597268 | (2839) | (2839) | (2839) | 0 | 0 | 0 | (1079) |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 03/2026 | 24374 | 24374 | 2876132 | 2876132 | (50897) | (50897) | (50897) | 0 | 0 | 0 | (9140) |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 3648 | 3648 | 419577 | 419577 | (2720) | (2720) | (2720) | 0 | 0 | 0 | (684) |
|  |  |  |  |  |  |  |  |  |  | (33206) | (33206) | $ | 326 | 326 | 326 | (12258) |
| **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 |  | 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 |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 03/2026 | 14353 | 14353 | (1568850) | (1568850) | $3078 | 3078 | 3078 | 1682 | 1682 | 1682 | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **(30128)** | **(30128)** | **$** | **2008** | **2008** | **2008** | **(12258)** |
| **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> |
|  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> |
| Reference Entity | Fixed <br>(Pay) Rate | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> |  | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| Citigroup, Inc.  | (1.000)% | 12/20/2032 | 0.685 | 0.685 | $ | $7500 | 7500 | 305 | 305 | (450) | (450) | (145) | (145) | 0 | 0 | 0 |
| General Motors Co.  | (5.000) | 06/20/2030 | 0.914 | 0.914 |  | 21300 | 21300 | (3584) | (3584) | (13) | (13) | (3597) | (3597) | 0 | 0 | 0 |
| JPMorgan Chase & Co.  | (1.000) | 12/20/2032 | 0.546 | 0.546 |  | 12500 | 12500 | 269 | 269 | (620) | (620) | (351) | (351) | 0 | 0 | 0 |
|  |  |  |  |  |  |  |  | $(3010) | (3010) | (1083) | (1083) | (4093) | (4093) | $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> |
|  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> |
| Reference Entity | Fixed <br>Receive Rate | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> |  | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| AES Corp.  | 5.000% | 06/20/2027 | 0.396 | 0.396 | $ | $15000 | 15000 | 2072 | 2072 | (1054) | (1054) | 1018 | 1018 | 0 | 0 | (3) |
| AT&T, Inc.  | 1.000 | 06/20/2028 | 0.414 | 0.414 |  | 87600 | 87600 | (468) | (468) | 1714 | 1714 | 1246 | 1246 | 0 | 0 | (23) |
| Bank of America Corp.  | 1.000 | 12/20/2026 | 0.299 | 0.299 |  | 31000 | 31000 | 393 | 393 | (175) | (175) | 218 | 218 | 2 | 2 | 0 |
| British Telecommunications PLC  | 1.000 | 12/20/2028 | 0.252 | 0.252 | EUR | 1600 | 1600 | (4) | (4) | 45 | 45 | 41 | 41 | 0 | 0 | 0 |
| Deutsche Bank  | 1.000 | 12/20/2030 | 0.620 | 0.620 |  | 14200 | 14200 | 249 | 249 | 53 | 53 | 302 | 302 | 8 | 8 | 0 |
| General Electric Co.  | 1.000 | 06/20/2026 | 0.051 | 0.051 | $ | $5200 | 5200 | 62 | 62 | (37) | (37) | 25 | 25 | 0 | 0 | 0 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 4 | 6 | 13 | 15 | 18 | 21 | 24 | 34 | 37 | 58 | 68 | 100 | 117 | 130 | 152 | 184 | 195 | 210 | 225 |
| Glencore Finance  | Glencore Finance  | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 06/20/2031 | 06/20/2031 | 0.920 |  | 5000 | 1153 |  | 73 |  | 1226 | 0 |  | (3) |
| Goldman Sachs Group, Inc.  | Goldman Sachs Group, Inc.  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 0.252 |  | $11700 | 73 |  | (29) |  | 44 | 1 |  | 0 |
| Morgan Stanley  | Morgan Stanley  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 0.226 |  | 56200 | 299 |  | (78) |  | 221 | 3 |  | 0 |
| NextEra Energy Capital Holdings, Inc.  | NextEra Energy Capital Holdings, Inc.  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 0.143 |  | 15900 | 469 |  | (400) |  | 69 | 0 |  | 0 |
| Oracle Corp.  | Oracle Corp.  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2030 | 06/20/2030 | 1.367 |  | 36500 | 804 |  | (1332) |  | (528) | 0 |  | (5) |
| Teck Resources Ltd.  | Teck Resources Ltd.  | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 0.095 |  | 10800 | 1877 |  | (1612) |  | 265 | 1 |  | 0 |
| Tesco PLC  | Tesco PLC  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2028 | 06/20/2028 | 0.235 |  | 7700 | 82 |  | 89 |  | 171 | 0 |  | (2) |
| Verizon Communications, Inc.  | Verizon Communications, Inc.  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 0.287 |  | $10000 | 240 |  | (168) |  | 72 | 1 |  | 0 |
| Verizon Communications, Inc.  | Verizon Communications, Inc.  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2028 | 06/20/2028 | 0.392 |  | 45200 | (132) |  | 799 |  | 667 | 0 |  | (3) |
| Verizon Communications, Inc.  | Verizon Communications, Inc.  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2028 | 12/20/2028 | 0.425 |  | 9700 | (24) |  | 185 |  | 161 | 2 |  | 0 |
| Volkswagen International Finance NV  | Volkswagen International Finance NV  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2028 | 06/20/2028 | 0.455 |  | 13350 | 105 |  | 107 |  | 212 | 0 |  | (1) |
| Williams Cos., Inc.  | Williams Cos., Inc.  | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 0.107 |  | $10900 | 78 |  | 19 |  | 97 | 1 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  | 7328 | 7328 | (1801) | (1801) | 5527 | 19 | 19 | (40) |
| **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>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> |
| Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date |  | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) |  | Market<br>Value<sup>(5)</sup> | Asset |  | Liability |
| CDX.EM-35 5-Year Index  | CDX.EM-35 5-Year Index  | CDX.EM-35 5-Year Index  | 1.000% | 1.000% | 1.000% | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | $ | 276 | (8) | $ | 9 | $ | 1 | 0 | $ | 0 |
| CDX.EM-36 5-Year Index  | CDX.EM-36 5-Year Index  | CDX.EM-36 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 |  | 32292 | (1171) |  | 1367 |  | 196 | 0 |  | (2) |
| CDX.EM-39 5-Year Index  | CDX.EM-39 5-Year Index  | CDX.EM-39 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 06/20/2028 | 06/20/2028 |  | 100 | (7) |  | 8 |  | 1 | 0 |  | 0 |
| CDX.EM-40 5-Year Index  | CDX.EM-40 5-Year Index  | CDX.EM-40 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2028 | 12/20/2028 |  | 5100 | (223) |  | 254 |  | 31 | 0 |  | (1) |
| CDX.EM-41 5-Year Index  | CDX.EM-41 5-Year Index  | CDX.EM-41 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 06/20/2029 | 06/20/2029 |  | 1600 | (61) |  | 67 |  | 6 | 0 |  | 0 |
| CDX.EM-42 5-Year Index  | CDX.EM-42 5-Year Index  | CDX.EM-42 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2029 | 12/20/2029 |  | 2000 | (58) |  | 59 |  | 1 | 0 |  | 0 |
| CDX.EM-43 5-Year Index  | CDX.EM-43 5-Year Index  | CDX.EM-43 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 06/20/2030 | 06/20/2030 |  | 200 | (7) |  | 6 |  | (1) | 0 |  | 0 |
| CDX.EM-44 5-Year Index  | CDX.EM-44 5-Year Index  | CDX.EM-44 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 |  | 1400 | (31) |  | 16 |  | (15) | 1 |  | 0 |
| CDX.IG-42 5-Year Index  | CDX.IG-42 5-Year Index  | CDX.IG-42 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 06/20/2029 | 06/20/2029 |  | 31565 | 587 |  | 98 |  | 685 | 1 |  | 0 |
| CDX.IG-44 5-Year Index  | CDX.IG-44 5-Year Index  | CDX.IG-44 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 06/20/2030 | 06/20/2030 |  | 3005470 | 63446 |  | 4877 |  | 68323 | 27 |  | 0 |
| CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 |  | 17568675 | 395598 |  | 7591 |  | 403189 | 251 |  | 0 |
| iTraxx Main 44 5-Year Index  | iTraxx Main 44 5-Year Index  | iTraxx Main 44 5-Year Index  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | EUR | 248310 | 6317 |  | 512 |  | 6829 | 77 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  | 464382 | $ | 14864 | $ | 479246 | 357 | $ | (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** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> | <u>Variation Margin</u><sup>(6)</sup> |
| Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Floating Rate Index | Floating Rate Index | Floating Rate Index | Fixed Rate | Fixed Rate | Fixed Rate | Payment<br>Frequency | Maturity<br>Date |  | 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 | Asset | Asset | Liability |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 3.750% | 3.750% | 3.750% | Annual | 09/17/2030 | GBP | 847475 | $(4300) | (4300) | $6351 | 6351 | 2051 | $417 | 417 | $0 |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 3.930 | 3.930 | 3.930 | Annual | 01/06/2035 |  | 4200 | (12) | (12) | (8) | (8) | (20) | 5 | 5 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.000 | 1.000 | 1.000 | Annual | 06/15/2027 | $ | 776800 | 60943 | 60943 | (21181) | (21181) | 39762 | 359 | 359 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.750 | 1.750 | 1.750 | Annual | 06/15/2027 |  | 400000 | 25816 | 25816 | (11236) | (11236) | 14580 | 185 | 185 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | 3.750 | Annual | 12/18/2029 |  | 593560 | (10846) | (10846) | 3009 | 3009 | (7837) | 773 | 773 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.000 | 3.000 | 3.000 | Annual | 03/19/2030 |  | 2354200 | 54136 | 54136 | 8108 | 8108 | 62244 | 3356 | 3356 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | 3.250 | 3.250 | Annual | 06/18/2030 |  | 500000 | 7081 | 7081 | (744) | (744) | 6337 | 749 | 749 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.694 | 3.694 | 3.694 | Annual | 04/30/2031 |  | 785750 | (502) | (502) | (4224) | (4224) | (4726) | 1341 | 1341 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.704 | 3.704 | 3.704 | Annual | 04/30/2031 |  | 344000 | 0 | 0 | (2256) | (2256) | (2256) | 587 | 587 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.769 | 3.769 | 3.769 | Annual | 04/30/2031 |  | 218500 | 0 | 0 | (2277) | (2277) | (2277) | 370 | 370 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | 3.750 | Annual | 06/20/2034 |  | 510660 | 18869 | 18869 | (19487) | (19487) | (618) | 1083 | 1083 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | 3.750 | Annual | 12/18/2034 |  | 301000 | (14925) | (14925) | 14426 | 14426 | (499) | 665 | 665 | 0 |

---

------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 3 | 4 | 14 | 18 | 26 | 35 | 51 | 58 | 87 | 98 | 104 | 128 | 144 | 158 | 160 | 193 | 195 | 209 | 223 | 225 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.551 | Annual | Annual | 09/17/2035 |  | 18100 |  | (53) |  | 414 |  | 361 |  | 42 | 42 |  | 0 |
| Receive<sup>(7)</sup> | Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | Annual | 11/15/2053 |  | 37700 |  | 788 |  | 536 |  | 1324 |  | 128 | 128 |  | 0 |
| Receive<sup>(7)</sup> | Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.085 | Annual | Annual | 11/15/2053 |  | 107681 |  | 187 |  | 1660 |  | 1847 |  | 372 | 372 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.765 | Annual | Annual | 12/17/2054 |  | 71000 |  | 0 |  | 4851 |  | 4851 |  | 234 | 234 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | Annual | 12/18/2054 |  | 249200 |  | 4161 |  | 24054 |  | 28215 |  | 796 | 796 |  | 0 |
| Pay | Pay | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 4.250 | Semi-Annual | Semi-Annual | 03/19/2030 | AUD | 940100 |  | 7577 |  | (10567) |  | (2990) |  | 0 | 0 |  | (480) |
| Pay | Pay | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 4.000 | Semi-Annual | Semi-Annual | 12/17/2035 |  | 256600 |  | (2938) |  | (7871) |  | (10809) |  | 0 | 0 |  | (308) |
| Pay<sup>(7)</sup> | Pay<sup>(7)</sup> | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.500 | Annual | Annual | 03/18/2031 | EUR | 443500 |  | 2279 |  | (5024) |  | (2745) |  | 0 | 0 |  | (345) |
| Receive<sup>(7)</sup> | Receive<sup>(7)</sup> | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 3.000 | Annual | Annual | 03/18/2056 |  | 166530 |  | (1738) |  | 11668 |  | 9930 |  | 556 | 556 |  | 0 |
|  |  |  |  |  |  |  |  |  | $ | $146523 | 146523 | $(9798) | (9798) | $136725 | 136725 | $12018 | 12018 | 12018 | $(1133) | (1133) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | $**615223** | **615223** | $**2182** | **2182** | $**617405** | **617405** | $**12394** | **12394** | **12394** | $**(1176)** | **(1176)** |
| **(o)** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $1,136,725 and cash of $25,799 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <sup>(1)</sup> | If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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. | 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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. | 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> | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. | Unsettled variation margin asset of $285 and liability of $(271) for closed swap agreements is outstanding at period end. |
| <sup>(7)</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. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. |
| **(p)** | **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** | **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:** | **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> | <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 | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month |  | Currency to<br>be Delivered | 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 | Asset | Asset | Liability | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 01/2026  | 01/2026  | 01/2026  | COP | 20272551 | 20272551 | 20272551 | $ | $5316 | 5316 | 5316 | 0 | 0 | 0 | 0 | $(5) | (5) | (5) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | EUR | 12366 | 12366 | 12366 |  | 14509 | 14509 | 14509 | 0 | 0 | 0 | 0 | (29) | (29) | (29) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | GBP | 339 | 339 | 339 | JPY | 70000 | 70000 | 70000 | 0 | 0 | 0 | 0 | (10) | (10) | (10) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 200738 | 200738 | 200738 | $ | $264292 | 264292 | 264292 | 0 | 0 | 0 | 0 | (6291) | (6291) | (6291) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $863 | 863 | 863 | JPY | 134276 | 134276 | 134276 | 0 | 0 | 0 | 0 | (5) | (5) | (5) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | COP | 5360174 | 5360174 | 5360174 | $ | $1389 | 1389 | 1389 | 0 | 0 | 0 | 0 | (6) | (6) | (6) |
|  |  |  | 03/2026  | 03/2026  | 03/2026  |  | 45291638 | 45291638 | 45291638 |  | 11787 | 11787 | 11787 | 110 | 110 | 110 | 110 | 0 | 0 | 0 |
|  |  |  | 03/2026  | 03/2026  | 03/2026  | PEN | 80250 | 80250 | 80250 |  | 23806 | 23806 | 23806 | 0 | 0 | 0 | 0 | (5) | (5) | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 01/2026  | 01/2026  | 01/2026  | AUD | 50197 | 50197 | 50197 |  | 33040 | 33040 | 33040 | 0 | 0 | 0 | 0 | (461) | (461) | (461) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $2424 | 2424 | 2424 | EUR | 2064 | 2064 | 2064 | 3 | 3 | 3 | 3 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 3089 | 3089 | 3089 | GBP | 2342 | 2342 | 2342 | 68 | 68 | 68 | 68 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 319 | 319 | 319 | JPY | 50000 | 50000 | 50000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | COP | 1745161 | 1745161 | 1745161 | $ | $456 | 456 | 456 | 2 | 2 | 2 | 2 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 01/2026  | 01/2026  | 01/2026  | $ | $3067 | 3067 | 3067 | AUD | 4683 | 4683 | 4683 | 58 | 58 | 58 | 58 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | 01/2026  | 01/2026  | 01/2026  | JPY | 134276 | 134276 | 134276 | $ | $863 | 863 | 863 | 5 | 5 | 5 | 5 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | PEN | 113 | 113 | 113 |  | 32 | 32 | 32 | 0 | 0 | 0 | 0 | (2) | (2) | (2) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $34 | 34 | 34 | PEN | 113 | 113 | 113 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | COP | 24344458 | 24344458 | 24344458 | $ | $6348 | 6348 | 6348 | 19 | 19 | 19 | 19 | (6) | (6) | (6) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | PEN | 80133 | 80133 | 80133 |  | 23442 | 23442 | 23442 | 0 | 0 | 0 | 0 | (362) | (362) | (362) |
|  |  |  | 03/2026  | 03/2026  | 03/2026  |  | 30217 | 30217 | 30217 |  | 8780 | 8780 | 8780 | 0 | 0 | 0 | 0 | (184) | (184) | (184) |
|  |  |  | 05/2026  | 05/2026  | 05/2026  |  | 71032 | 71032 | 71032 |  | 20322 | 20322 | 20322 | 0 | 0 | 0 | 0 | (707) | (707) | (707) |
|  |  |  | 06/2026  | 06/2026  | 06/2026  |  | 60512 | 60512 | 60512 |  | 17712 | 17712 | 17712 | 0 | 0 | 0 | 0 | (178) | (178) | (178) |
|  |  |  | 09/2026  | 09/2026  | 09/2026  |  | 37050 | 37050 | 37050 |  | 10824 | 10824 | 10824 | 0 | 0 | 0 | 0 | (91) | (91) | (91) |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 01/2026  | 01/2026  | AUD | 11205 | 11205 | 11205 |  | 7449 | 7449 | 7449 | 0 | 0 | 0 | 0 | (29) | (29) | (29) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | COP | 117274642 | 117274642 | 117274642 |  | 30900 | 30900 | 30900 | 171 | 171 | 171 | 171 | (35) | (35) | (35) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | EUR | 10052 | 10052 | 10052 |  | 11836 | 11836 | 11836 | 18 | 18 | 18 | 18 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | GBP | 3485 | 3485 | 3485 | AUD | 7000 | 7000 | 7000 | 0 | 0 | 0 | 0 | (26) | (26) | (26) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 4128 | 4128 | 4128 | $ | $5460 | 5460 | 5460 | 0 | 0 | 0 | 0 | (104) | (104) | (104) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | PEN | 139006 | 139006 | 139006 |  | 39834 | 39834 | 39834 | 0 | 0 | 0 | 0 | (1492) | (1492) | (1492) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $1437 | 1437 | 1437 | AUD | 2165 | 2165 | 2165 | 8 | 8 | 8 | 8 | 0 | 0 | 0 |

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<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 8 | 14 | 31 | 51 | 85 | 93 | 104 | 107 | 142 | 156 | 157 | 198 | 208 | 214 |
|  |  | 01/2026  | 01/2026  | 5690 | 5690 | COP | 21446831 | 21446831 | 21446831 |  | 0 | 0 |  | (13) |
|  |  | 01/2026  | 01/2026  | 18011 | 18011 | PEN | 60698 | 60698 | 60698 |  | 36 | 36 |  | 0 |
|  |  | 02/2026  | 02/2026  | 22849700 | 22849700 | $ | 5998 | 5998 | 5998 |  | 71 | 71 |  | 0 |
|  |  | 02/2026  | 02/2026  | 102272 | 102272 |  | 30194 | 30194 | 30194 |  | 0 | 0 |  | (195) |
|  |  | 03/2026  | 03/2026  | 37500543 | 37500543 |  | 9897 | 9897 | 9897 |  | 174 | 174 |  | 0 |
|  |  | 03/2026  | 03/2026  | 175361 | 175361 |  | 51245 | 51245 | 51245 |  | 0 | 0 |  | (784) |
|  |  | 04/2026  | 04/2026  | 18754055 | 18754055 |  | 4917 | 4917 | 4917 |  | 95 | 95 |  | 0 |
|  |  | 05/2026  | 05/2026  | 28067 | 28067 |  | 7915 | 7915 | 7915 |  | 0 | 0 |  | (395) |
|  |  | 05/2026  | 05/2026  | $11 | 11 | PEN | 36 | 36 | 36 |  | 0 | 0 |  | 0 |
|  |  | 08/2026  | 08/2026  | 33744 | 33744 | $ | 9891 | 9891 | 9891 |  | 0 | 0 |  | (58) |
|  |  | 11/2026  | 11/2026  | 14562 | 14562 |  | 4257 | 4257 | 4257 |  | 0 | 0 |  | (18) |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | &nbsp;&nbsp;&nbsp;&nbsp; DUB | 02/2026  | 02/2026  | 14478 | 14478 |  | 4071 | 4071 | 4071 |  | 0 | 0 |  | (230) |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | 01/2026  | 01/2026  | 4683 | 4683 |  | 3026 | 3026 | 3026 |  | 0 | 0 |  | (100) |
|  |  | 01/2026  | 01/2026  | 2851 | 2851 | AUD | 5006 | 5006 | 5006 |  | 0 | 0 |  | (11) |
|  |  | 01/2026  | 01/2026  | 3381 | 3381 |  | 6800 | 6800 | 6800 |  | 0 | 0 |  | (19) |
|  |  | 01/2026  | 01/2026  | $32 | 32 | JPY | 5000 | 5000 | 5000 |  | 0 | 0 |  | 0 |
|  |  | 03/2026  | 03/2026  | 72 | 72 | $ | 21 | 21 | 21 |  | 0 | 0 |  | 0 |
|  |  | 03/2026  | 03/2026  | $0 | 0 | MXN | 1 | 1 | 1 |  | 0 | 0 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | &nbsp;&nbsp;&nbsp;&nbsp; GLM | 02/2026  | 02/2026  | 1351596 | 1351596 | $ | 352 | 352 | 352 |  | 1 | 1 |  | 0 |
|  |  | 03/2026  | 03/2026  | 58 | 58 |  | 0 | 0 | 0 |  | 0 | 0 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | 02/2026  | 02/2026  | 8 | 8 |  | 0 | 0 | 0 |  | 0 | 0 |  | 0 |
|  |  | 03/2026  | 03/2026  | 9700157 | 9700157 |  | 2510 | 2510 | 2510 |  | 0 | 0 |  | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 01/2026  | 209800 | 209800 |  | 243503 | 243503 | 243503 |  | 0 | 0 |  | (3159) |
|  |  | 01/2026  | 01/2026  | 3934 | 3934 |  | 5244 | 5244 | 5244 |  | 0 | 0 |  | (58) |
|  |  | 01/2026  | 01/2026  | 298153 | 298153 |  | 1919 | 1919 | 1919 |  | 14 | 14 |  | 0 |
|  |  | 01/2026  | 01/2026  | $1373 | 1373 | AUD | 2059 | 2059 | 2059 |  | 1 | 1 |  | 0 |
|  |  | 01/2026  | 01/2026  | 10703 | 10703 | EUR | 9069 | 9069 | 9069 |  | 0 | 0 |  | (41) |
|  |  | 01/2026  | 01/2026  | 11618 | 11618 | GBP | 8690 | 8690 | 8690 |  | 95 | 95 |  | 0 |
|  |  | 02/2026  | 02/2026  | 511 | 511 | $ | 27 | 27 | 27 |  | 0 | 0 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | 01/2026  | 01/2026  | 55 | 55 | JPY | 10006 | 10006 | 10006 |  | 0 | 0 |  | (1) |
|  |  | 01/2026  | 01/2026  | 285100 | 285100 | $ | 1831 | 1831 | 1831 |  | 10 | 10 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; NGF | &nbsp;&nbsp;&nbsp;&nbsp; NGF | 01/2026  | 01/2026  | 571 | 571 | AUD | 1001 | 1001 | 1001 |  | 0 | 0 |  | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 01/2026  | 01/2026  | 570 | 570 |  | 1003 | 1003 | 1003 |  | 0 | 0 |  | (1) |
|  |  | 01/2026  | 01/2026  | 442 | 442 | JPY | 80000 | 80000 | 80000 |  | 0 | 0 |  | (9) |
|  |  | 01/2026  | 01/2026  | 193 | 193 |  | 39921 | 39921 | 39921 |  | 0 | 0 |  | (5) |
|  |  | 01/2026  | 01/2026  | 104160 | 104160 | $ | 670 | 670 | 670 |  | 4 | 4 |  | 0 |
|  |  | 01/2026  | 01/2026  | $2344 | 2344 | GBP | 1761 | 1761 | 1761 |  | 30 | 30 |  | 0 |
|  |  | 01/2026  | 01/2026  | 769 | 769 | JPY | 119805 | 119805 | 119805 |  | 0 | 0 |  | (4) |
| **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** | $**993** | **993** | **$** | $**(15137)** | **(15137)** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Description | Description | Floating Rate<br>Index | Floating Rate<br>Index | Exercise<br>Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) |  | Market<br>Value |
| BPS | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.551% | 3.551% | 3.551% | 01/05/2026 | 34800 | 34800 | 34800 | (81) | $ | $0 |
|  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.831 | 3.831 | 3.831 | 01/05/2026 | 34800 | 34800 | 34800 | (81) |  | (19) |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.625 | 3.625 | 3.625 | 01/08/2026 | 17500 | 17500 | 17500 | (45) |  | (2) |
|  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.925 | 3.925 | 3.925 | 01/08/2026 | 17500 | 17500 | 17500 | (45) |  | (4) |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.622 | 3.622 | 3.622 | 01/29/2026 | 36100 | 36100 | 36100 | (77) |  | (49) |
|  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.882 | 3.882 | 3.882 | 01/29/2026 | 36100 | 36100 | 36100 | (77) |  | (107) |
| FAR | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.580 | 3.580 | 3.580 | 01/05/2026 | 37300 | 37300 | 37300 | (86) |  | 0 |
|  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.860 | 3.860 | 3.860 | 01/05/2026 | 37300 | 37300 | 37300 | (86) |  | (7) |
| GLM | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.548 | 3.548 | 3.548 | 01/02/2026 | 38000 | 38000 | 38000 | (93) |  | 0 |
|  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.848 | 3.848 | 3.848 | 01/02/2026 | 38000 | 38000 | 38000 | (93) |  | (3) |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.578 | 3.578 | 3.578 | 01/12/2026 | 34900 | 34900 | 34900 | (77) |  | (4) |
|  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.878 | 3.878 | 3.878 | 01/12/2026 | 34900 | 34900 | 34900 | (77) |  | (35) |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.648 | 3.648 | 3.648 | 01/15/2026 | 34900 | 34900 | 34900 | (94) |  | (24) |
|  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.928 | 3.928 | 3.928 | 01/15/2026 | 34900 | 34900 | 34900 | (94) |  | (28) |
| MYC | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.625 | 3.625 | 3.625 | 01/08/2026 | 37100 | 37100 | 37100 | (94) |  | (3) |
|  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.925 | 3.925 | 3.925 | 01/08/2026 | 37100 | 37100 | 37100 | (95) |  | (7) |
|  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.639 | 3.639 | 3.639 | 01/12/2026 | 38000 | 38000 | 38000 | (90) |  | (12) |
|  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.919 | 3.919 | 3.919 | 01/12/2026 | 38000 | 38000 | 38000 | (90) |  | (19) |
| NGF | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.498 | 3.498 | 3.498 | 01/05/2026 | 45500 | 45500 | 45500 | (105) |  | 0 |

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------

<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 5 | 8 | 31 | 33 | 45 | 49 | 63 | 67 | 73 | 85 | 94 | 107 | 122 | 132 | 148 | 163 | 175 | 202 | 214 | 228 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.798 | 3.798 | 01/05/2026 | 01/05/2026 |  | 45500 |  | (105) | (105) | (68) | (68) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | Receive | 3.639 | 3.639 | 01/12/2026 | 01/12/2026 |  | 47500 |  | (112) | (112) | (15) | (15) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | Pay | 3.919 | 3.919 | 01/12/2026 | 01/12/2026 |  | 47500 |  | (112) | (112) | (23) | (23) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1909) | (1909) | $(429) | (429) |
| **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** |
| Counterparty | Counterparty | Description | Description | Description | Description | Description |  |  | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Expiration<br>Date |  |  | Notional<br>Amount<sup>(1)</sup> |  | Premiums<br>(Received) | Premiums<br>(Received) | Market<br>Value | Market<br>Value |
| GSC | GSC | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | $ | $ | $97.375 | 97.375 | 01/07/2026 | 01/07/2026 |  | $ | 108000 | $ | (297) | (297) | $0 | 0 |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **(2206)** | **(2206)** | $**(429)** | **(429)** |
| **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 AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> |
| Counterparty | Reference Entity | Reference Entity | Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| BOA | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000% | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 12/20/2026 | 0.897% | 0.897% | $1400 | 1400 | $(37) | (37) | $39 | $2 | 2 | $0 |
|  | Italy Government International Bonds  | Italy Government International Bonds  | Italy Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 12/20/2026 | 0.063 | 0.063 | 43300 | 43300 | 80 | 80 | 324 | 404 | 404 | 0 |
| BPS | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 12/20/2026 | 0.897 | 0.897 | 1100 | 1100 | (30) | (30) | 31 | 1 | 1 | 0 |
|  | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2027 | 12/20/2027 | 12/20/2027 | 1.164 | 1.164 | 700 | 700 | (62) | (62) | 60 | 0 | 0 | (2) |
| BRC | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 06/20/2026 | 0.777 | 0.777 | 9300 | 9300 | (242) | (242) | 254 | 12 | 12 | 0 |
| CBK | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 12/20/2026 | 0.897 | 0.897 | 1100 | 1100 | (29) | (29) | 30 | 1 | 1 | 0 |
|  | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 06/20/2027 | 1.075 | 1.075 | 300 | 300 | (11) | (11) | 11 | 0 | 0 | 0 |
|  | Italy Government International Bonds  | Italy Government International Bonds  | Italy Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 12/20/2026 | 0.063 | 0.063 | 13100 | 13100 | 9 | 9 | 113 | 122 | 122 | 0 |
| GST | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 06/20/2026 | 0.777 | 0.777 | 9400 | 9400 | (245) | (245) | 258 | 13 | 13 | 0 |
|  | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 06/20/2027 | 1.075 | 1.075 | 12300 | 12300 | (498) | (498) | 489 | 0 | 0 | (9) |
|  | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2027 | 12/20/2027 | 12/20/2027 | 1.164 | 1.164 | 5700 | 5700 | (508) | (508) | 492 | 0 | 0 | (16) |
|  | Equinix, Inc.  | Equinix, Inc.  | Equinix, Inc.  | 5.000 | Quarterly | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 06/20/2027 | 0.620 | 0.620 | 8800 | 8800 | 1230 | 1230 | (663) | 567 | 567 | 0 |
|  | Mexico Government International Bonds  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2028 | 12/20/2028 | 12/20/2028 | 0.534 | 0.534 | 5200 | 5200 | (55) | (55) | 125 | 70 | 70 | 0 |
| JPM | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 06/20/2027 | 1.075 | 1.075 | 200 | 200 | (8) | (8) | 8 | 0 | 0 | 0 |
|  | Mexico Government International Bonds  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 06/20/2026 | 0.221 | 0.221 | 9300 | 9300 | (73) | (73) | 110 | 37 | 37 | 0 |
|  | Nissan Motor Acceptance Co. LLC  | Nissan Motor Acceptance Co. LLC  | Nissan Motor Acceptance Co. LLC  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 12/20/2026 | 1.785 | 1.785 | 73600 | 73600 | (936) | (936) | 409 | 0 | 0 | (527) |
| MYC | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 06/20/2027 | 1.075 | 1.075 | 3400 | 3400 | (192) | (192) | 189 | 0 | 0 | (3) |
|  | Colombia Government International Bonds  | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2027 | 12/20/2027 | 12/20/2027 | 1.164 | 1.164 | 4000 | 4000 | (357) | (357) | 346 | 0 | 0 | (11) |
|  | Mexico Government International Bonds  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 12/20/2026 | 0.290 | 0.290 | 23100 | 23100 | 65 | 65 | 100 | 165 | 165 | 0 |
|  | Mexico Government International Bonds  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 06/20/2027 | 0.362 | 0.362 | 16700 | 16700 | (57) | (57) | 216 | 159 | 159 | 0 |
|  | Mexico Government International Bonds  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2028 | 06/20/2028 | 06/20/2028 | 0.480 | 0.480 | 7200 | 7200 | (139) | (139) | 230 | 91 | 91 | 0 |
|  | Mexico Government International Bonds  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2028 | 12/20/2028 | 12/20/2028 | 0.534 | 0.534 | 31300 | 31300 | (330) | (330) | 752 | 422 | 422 | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $(2425) | (2425) | $3923 | $2066 | 2066 | $(568) |
| **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>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> | <u>Swap Agreements, at Value</u><sup>(5)</sup> |
| Counterparty | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| GST | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | 0.500% | 0.500% | 0.500% | Monthly | Monthly | 11/17/2059 | 11/17/2059 | 1800 | 1800 | (53) | (53) | 58 | 5 | 5 | 0 |
|  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | 0.500 | 0.500 | 0.500 | Monthly | Monthly | 09/17/2058 | 09/17/2058 | 351 | 351 | (13) | (13) | 13 | 0 | 0 | 0 |
| MEI | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | 0.500 | 0.500 | 0.500 | Monthly | Monthly | 05/11/2063 | 05/11/2063 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| MYC | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | 0.500 | 0.500 | 0.500 | Monthly | Monthly | 11/17/2059 | 11/17/2059 | 7700 | 7700 | (228) | (228) | 251 | 23 | 23 | 0 |
|  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | 0.500 | 0.500 | 0.500 | Monthly | Monthly | 09/17/2058 | 09/17/2058 | 447 | 447 | (17) | (17) | 17 | 0 | 0 | 0 |
| SAL | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | 0.500 | 0.500 | 0.500 | Monthly | Monthly | 11/17/2059 | 11/17/2059 | 4900 | 4900 | (140) | (140) | 155 | 15 | 15 | 0 |
|  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | 0.500 | 0.500 | 0.500 | Monthly | Monthly | 08/17/2061 | 08/17/2061 | 7500 | 7500 | (9) | (9) | 56 | 47 | 47 | 0 |

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<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 2 | 3 | 47 | 53 | 69 | 82 | 102 | 109 | 127 | 148 | 156 | 166 | 175 | 176 | 198 | 202 | 203 | 228 | 229 |
| UAG | UAG | CMBX.NA.AAA.10 Index  | 0.500 | Monthly | Monthly | 11/17/2059 |  | 3200 | (92) | (92) |  | 102 | 102 |  | 10 | 10 | 0 | 0 |
|  |  |  |  |  |  |  |  |  | $(552) | (552) | $ | $652 | 652 | $ | $100 | 100 | $0 | 0 |
| **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** | **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> | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | # of Units | &nbsp;&nbsp; Financing Rate | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount |  | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) |  |  | Asset |  | Liability |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | &nbsp;&nbsp; 3.250% (SOFR less a specified spread) | &nbsp;&nbsp; 3.250% (SOFR less a specified spread) | &nbsp;&nbsp; 3.250% (SOFR less a specified spread) | Monthly | 09/23/2026 | 09/23/2026 | 298308 | $0 | 0 | $ | $897 | 897 | $ | $897 | 897 | $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** | $**(2977)** | **(2977)** | **$** | $**5472** | **5472** | **$** | $**3063** | **3063** | $**(568)** | **(568)** |
| **(q)** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,885 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| <sup>(2)</sup> | If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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. | 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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. | The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. |
| <sup>(6)</sup> | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio 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** | **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio'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 2 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |  |  |
| **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** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |  |  |
| Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | $0 | 0 | $ | 14012 | $ | $73680 | 73680 | 73680 | 73680 | $87692 | 87692 | 87692 |  |  |
| 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 | Corporate Bonds & Notes |  |  |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | 0 | 0 |  | 7441807 |  | 79903 | 79903 | 79903 | 79903 | 7521710 | 7521710 | 7521710 |  |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 |  | 8408924 |  | 77736 | 77736 | 77736 | 77736 | 8486660 | 8486660 | 8486660 |  |  |
| Utilities | Utilities | Utilities | Utilities | Utilities | 0 | 0 |  | 4356347 |  | 0 | 0 | 0 | 0 | 4356347 | 4356347 | 4356347 |  |  |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |  |  |
| California | California | California | California | California | 0 | 0 |  | 201151 |  | 0 | 0 | 0 | 0 | 201151 | 201151 | 201151 |  |  |
| Georgia | Georgia | Georgia | Georgia | Georgia | 0 | 0 |  | 46839 |  | 0 | 0 | 0 | 0 | 46839 | 46839 | 46839 |  |  |
| Illinois | Illinois | Illinois | Illinois | Illinois | 0 | 0 |  | 23667 |  | 0 | 0 | 0 | 0 | 23667 | 23667 | 23667 |  |  |
| Indiana | Indiana | Indiana | Indiana | Indiana | 0 | 0 |  | 1949 |  | 0 | 0 | 0 | 0 | 1949 | 1949 | 1949 |  |  |
| Massachusetts | Massachusetts | Massachusetts | Massachusetts | Massachusetts | 0 | 0 |  | 2499 |  | 0 | 0 | 0 | 0 | 2499 | 2499 | 2499 |  |  |
| Michigan | Michigan | Michigan | Michigan | Michigan | 0 | 0 |  | 33703 |  | 0 | 0 | 0 | 0 | 33703 | 33703 | 33703 |  |  |
| Nevada | Nevada | Nevada | Nevada | Nevada | 0 | 0 |  | 3832 |  | 0 | 0 | 0 | 0 | 3832 | 3832 | 3832 |  |  |
| New Jersey | New Jersey | New Jersey | New Jersey | New Jersey | 0 | 0 |  | 1076 |  | 0 | 0 | 0 | 0 | 1076 | 1076 | 1076 |  |  |
| New Mexico | New Mexico | New Mexico | New Mexico | New Mexico | 0 | 0 |  | 5239 |  | 0 | 0 | 0 | 0 | 5239 | 5239 | 5239 |  |  |
| New York | New York | New York | New York | New York | 0 | 0 |  | 86718 |  | 0 | 0 | 0 | 0 | 86718 | 86718 | 86718 |  |  |
| Ohio | Ohio | Ohio | Ohio | Ohio | 0 | 0 |  | 61807 |  | 0 | 0 | 0 | 0 | 61807 | 61807 | 61807 |  |  |
| Pennsylvania | Pennsylvania | Pennsylvania | Pennsylvania | Pennsylvania | 0 | 0 |  | 12595 |  | 0 | 0 | 0 | 0 | 12595 | 12595 | 12595 |  |  |
| Texas | Texas | Texas | Texas | Texas | 0 | 0 |  | 104416 |  | 0 | 0 | 0 | 0 | 104416 | 104416 | 104416 |  |  |
| Virginia | Virginia | Virginia | Virginia | Virginia | 0 | 0 |  | 1368 |  | 0 | 0 | 0 | 0 | 1368 | 1368 | 1368 |  |  |
| Wisconsin | Wisconsin | Wisconsin | Wisconsin | Wisconsin | 0 | 0 |  | 5057 |  | 0 | 0 | 0 | 0 | 5057 | 5057 | 5057 |  |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 |  | 4028077 |  | 0 | 0 | 0 | 0 | 4028077 | 4028077 | 4028077 |  |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 |  | 6985648 |  | 0 | 0 | 0 | 0 | 6985648 | 6985648 | 6985648 |  |  |
| 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 | 0 | 0 |  | 75904 |  | 419591 | 419591 | 419591 | 419591 | 495495 | 495495 | 495495 |  |  |
| 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 | Asset-Backed Securities |  |  |
| CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | 0 | 0 |  | 13852 |  | 0 | 0 | 0 | 0 | 13852 | 13852 | 13852 |  |  |
| Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | 0 | 0 |  | 8116 |  | 0 | 0 | 0 | 0 | 8116 | 8116 | 8116 |  |  |
| Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | 0 | 0 |  | 60148 |  | 0 | 0 | 0 | 0 | 60148 | 60148 | 60148 |  |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 |  | 1214216 |  | 0 | 0 | 0 | 0 | 1214216 | 1214216 | 1214216 |  |  |
| 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 | Common Stocks |  |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 |  | 0 |  | 4050 | 4050 | 4050 | 4050 | 4050 | 4050 | 4050 |  |  |
| Real Estate | Real Estate | Real Estate | Real Estate | Real Estate | 0 | 0 |  | 0 |  | 743 | 743 | 743 | 743 | 743 | 743 | 743 |  |  |
| Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities | Convertible Preferred Securities |  |  |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | 24482 | 24482 |  | 0 |  | 0 | 0 | 0 | 0 | 24482 | 24482 | 24482 |  |  |
| Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |  |  |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | 16282 | 16282 |  | 683812 |  | 0 | 0 | 0 | 0 | 700094 | 700094 | 700094 |  |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 |  | 8141 |  | 0 | 0 | 0 | 0 | 8141 | 8141 | 8141 |  |  |
| 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 | 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 |  | 8171 |  | 0 | 0 | 0 | 0 | 8171 | 8171 | 8171 |  |  |

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<br> Schedule of Investments PIMCO Long Duration Credit Bond Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 2 | 3 | 12 | 30 | 43 | 46 | 72 | 82 | 97 | 106 | 121 | 143 | 168 | 183 | 192 | 200 | 222 | 226 |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 | 0 | 83304 | 83304 | 0 |  |  | 83304 |  |  |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 0 | 5851 | 5851 | 0 |  |  | 5851 |  |  |
|  |  |  |  |  |  |  | $40764 | 40764 | 40764 | $33988246 | 33988246 | 655703 | $ | $ | 34684713 |  |  |
| **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** | **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 | 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 | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | $9062 | 9062 | 9062 | $0 | 0 | 0 | $ | $ | 9062 |  |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $49826 | 49826 | 49826 | $33988246 | 33988246 | 655703 | $ | $ | 34693775 |  |  |
| **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** |  |  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 326 | 326 | 326 | 14076 | 14076 | 0 |  |  | 14402 |  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | 4056 | 4056 | 0 |  |  | 4056 |  |  |
|  |  |  |  |  |  |  | $326 | 326 | 326 | $18132 | 18132 | 0 | $ | $ | 18458 |  |  |
| **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** | **Financial Derivative Instruments - Liabilities** | **Financial Derivative Instruments - Liabilities** | **Financial Derivative Instruments - Liabilities** | **Financial Derivative Instruments - Liabilities** |  |  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | (678) | (678) | (678) | (13513) | (13513) | 0 |  |  | (14191) |  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | (16134) | (16134) | 0 |  |  | (16134) |  |  |
|  |  |  |  |  |  |  | $(678) | (678) | (678) | $(29647) | (29647) | 0 | $ | $ | (30325) |  |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $(352) | (352) | (352) | $(11515) | (11515) | 0 | $ | $ | (11867) |  |  |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | $49474 | 49474 | 49474 | $33976731 | 33976731 | 655703 | $ | $ | 34681908 |  |  |
| **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended December 31, 2025:** |
| Category and Subcategory | Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases | Net<br>Sales/Settlements | Net<br>Sales/Settlements | Accrued<br>Discounts/<br>(Premiums) | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 12/31/2025 | Ending<br>Balance<br>at 12/31/2025 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>12/31/2025<sup>(1)</sup> | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>12/31/2025<sup>(1)</sup> |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | Loan Participations and Assignments | 57139 | 19697 | $ | $(4200) | $ | 4 | $3 | $ | 1037 | $0 | $0 | 0 | $ | 73680 | $ | 841 |
| Corporate Bonds & Notes | Corporate Bonds & Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Banking & Finance | Banking & Finance | 50354 | 53600 |  | (23600) |  | 0 | 0 |  | (451) | 0 | 0 | 0 |  | 79903 |  | (191) |
| Industrials | Industrials | 30076 | 46600 |  | (406) |  | 0 | 0 |  | 1466 | 0 | 0 | 0 |  | 77736 |  | 1466 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 413785 |  | 0 |  | 0 | 0 |  | 5806 | 0 | 0 | 0 |  | 419591 |  | 5806 |
| Common Stocks | Common Stocks |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Real Estate<sup>(2)</sup> | Real Estate<sup>(2)</sup> | 67 | 0 |  | 0 |  | 0 | 0 |  | 676 | 0 | 0 | 0 |  | 743 |  | 676 |
| Industrials | Industrials | 4520 | 0 |  | 0 |  | 0 | 0 |  | (470) | 0 | 0 | 0 |  | 4050 |  | (470) |
| Totals | Totals | 142156 | 533682 | $ | $(28206) | $ | 4 | $3 | $ | 8064 | $0 | $0 | 0 | $ | 655703 | $ | 8128 |
| <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:** | <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 12/31/2025 | &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;&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** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | $33354 | 33354 | &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;&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 | 3.940 - 5.690 | 3.940 - 5.690 | 3.940 - 5.690 | 5.052 | 5.052 |
|  |  |  | 27164 | 27164 | &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;&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 | 95.550 | 95.550 | 95.550 |  |  |
|  |  |  | 13162 | 13162 | &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;&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 |  |  |
| 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 | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | Banking & Finance | Banking & Finance | 79903 | 79903 | &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;&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 | 4.360 - 6.230 | 4.360 - 6.230 | 4.360 - 6.230 | 5.413 | 5.413 |
| Industrials | Industrials | Industrials | 77736 | 77736 | &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;&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 | 4.990 - 5.960 | 4.990 - 5.960 | 4.990 - 5.960 | 5.196 | 5.196 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 139237 | 139237 | &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;&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 | 100.680 - 101.110 | 100.680 - 101.110 | 100.680 - 101.110 | 100.801 | 100.801 |
|  |  |  | 280354 | 280354 | &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;&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 |  |  |
| 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 | Common Stocks | Common Stocks |
| Real Estate | Real Estate | Real Estate | 743 | 743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Valuation Techniques<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Valuation Techniques<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Valuation Techniques<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Valuation Techniques<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Valuation Techniques<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |  |  |  |  |  |
| Industrials | Industrials | Industrials | 4050 | 4050 | &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;&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 | $22.563 | 22.563 | 22.563 |  |  |
| Total | Total | Total | $655703 | 655703 |  |  |  |  |  |  |  |  |  |  |  |  |  |
| <sup>(1)</sup> | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. |
| <sup>(2)</sup> | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. | Sector type updated from Financials to Real Estate since prior fiscal year end. |
| <sup>(3)</sup> | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. | Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund. |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio December 31, 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 113.1% ¤** |  |  |
| **CORPORATE BONDS & NOTES 20.7%**  |  |  |
| **BANKING & FINANCE 13.6%**  |  |  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**  |  |  |
| 2.450% due 10/29/2026  | $4800 | $4736 |
| 3.875% due 01/23/2028  | 500 | 498 |
| **American Express Co.** <br>2.550% due 03/04/2027 | 3250 | 3204 |
| **American National Global Funding** <br>4.625% due 12/15/2028 | 2300 | 2311 |
| **American Tower Corp.** <br>5.800% due 11/15/2028 | 2600 | 2715 |
| **Athene Global Funding**  |  |  |
| 4.860% due 08/27/2026  | 4400 | 4418 |
| 5.380% due 01/07/2030  | 2500 | 2560 |
| **Avolon Holdings Funding Ltd.** <br>4.950% due 10/15/2032 | 3000 | 2973 |
| **Banco Santander SA** <br>5.552% due 03/14/2028 •  | 2000 | 2035 |
| **Bank of America Corp.**  |  |  |
| 1.658% due 03/11/2027 •  | 6100 | 6072 |
| 1.734% due 07/22/2027 •  | 3000 | 2962 |
| 2.592% due 04/29/2031 •  | 7000 | 6525 |
| 4.271% due 07/23/2029 •  | 2000 | 2010 |
| **Banque Federative du Credit Mutuel SA** <br>5.194% due 02/16/2028 | 2200 | 2251 |
| **Barclays PLC**  |  |  |
| 4.375% due 01/12/2026  | 7000 | 7001 |
| 4.972% due 05/16/2029 •  | 1800 | 1830 |
| 6.490% due 09/13/2029 •  | 4300 | 4545 |
| **Blackstone Holdings Finance Co. LLC** <br>1.625% due 08/05/2028 | 2500 | 2352 |
| **BNP Paribas SA** <br>1.904% due 09/30/2028 •  | 10500 | 10111 |
| **BPCE SA**  |  |  |
| 5.281% due 05/30/2029  | 1700 | 1754 |
| 5.975% due 01/18/2027 •  | 1500 | 1501 |
| **Brighthouse Financial Global Funding** <br>5.550% due 04/09/2027 | 5000 | 5073 |
| **Brookfield Finance, Inc.** <br>4.250% due 06/02/2026 | 1070 | 1070 |
| **Capital One Financial Corp.** <br>7.149% due 10/29/2027 •  | 950 | 973 |
| **Chubb INA Holdings LLC** <br>4.650% due 08/15/2029 | 800 | 818 |
| **CNO Global Funding**  |  |  |
| 4.700% due 12/11/2030  | 2000 | 2004 |
| 5.875% due 06/04/2027  | 1000 | 1023 |
| **Cooperatieve Rabobank UA**  |  |  |
| 4.494% due 10/17/2029  | 1000 | 1018 |
| 4.655% due 08/22/2028 •  | 900 | 910 |
| **COPT Defense Properties LP** <br>2.900% due 12/01/2033 | 750 | 641 |
| **Corebridge Financial, Inc.** <br>3.850% due 04/05/2029 | 3900 | 3839 |
| **Corebridge Global Funding**  |  |  |
| 4.584% (SOFRRATE + 0.860%) due 12/15/2028 ~  | 1200 | 1203 |
| 5.900% due 09/19/2028  | 2000 | 2091 |
| **Deutsche Bank AG**  |  |  |
| 3.035% due 05/28/2032 •  | 3400 | 3123 |
| 7.146% due 07/13/2027 •  | 5000 | 5077 |
| **DOC Dr. LLC** <br>4.300% due 03/15/2027 | 700 | 701 |
| **Equinix, Inc.** <br>3.200% due 11/18/2029 | 600 | 576 |
| **Equitable America Global Funding**  |  |  |
| 4.650% due 06/09/2028  | 1600 | 1617 |
| 4.950% due 06/09/2030  | 2100 | 2140 |
| **F&G Global Funding** <br>5.065% (SOFRRATE + 1.325%) due 09/08/2028 ~ | 3900 | 3925 |
| **Fairfax Financial Holdings Ltd.**  |  |  |
| 4.850% due 04/17/2028  | 600 | 609 |
| 5.625% due 08/16/2032  | 1500 | 1567 |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **GA Global Funding Trust** <br>1.950% due 09/15/2028 | 3600 | 3394 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 1.542% due 09/10/2027 •  | 100 | 98 |
| 2.640% due 02/24/2028 •  | 6125 | 6031 |
| 3.691% due 06/05/2028 •  | 6500 | 6467 |
| 5.573% (SOFRRATE + 1.850%) due 03/15/2028 ~  | 5000 | 5073 |
| 5.727% due 04/25/2030 •  | 4600 | 4807 |
| **Guardian Life Global Funding** <br>5.737% due 10/02/2028 | 4000 | 4178 |
| **Healthpeak OP LLC** <br>3.250% due 07/15/2026 | 1000 | 995 |
| **HSBC Holdings PLC**  |  |  |
| 3.973% due 05/22/2030 •  | 2600 | 2569 |
| 4.755% due 06/09/2028 •  | 3350 | 3381 |
| 5.887% due 08/14/2027 •  | 9000 | 9096 |
| **ING Groep NV** <br>5.335% due 03/19/2030 •  | 3300 | 3405 |
| **Invitation Homes Operating Partnership LP** <br>2.700% due 01/15/2034 | 400 | 342 |
| **Jackson National Life Global Funding**  |  |  |
| 4.600% due 10/01/2029  | 1700 | 1706 |
| 4.675% (SOFRRATE + 0.950%) due 09/12/2028 ~  | 2500 | 2509 |
| 4.700% due 06/05/2028  | 3700 | 3741 |
| **JPMorgan Chase & Co.**  |  |  |
| 1.578% due 04/22/2027 •  | 4800 | 4764 |
| 3.540% due 05/01/2028 •  | 4300 | 4277 |
| 4.851% due 07/25/2028 •  | 10000 | 10131 |
| 5.571% due 04/22/2028 •  | 4500 | 4591 |
| 6.087% due 10/23/2029 •  | 5000 | 5268 |
| **Lincoln Financial Global Funding** <br>4.625% due 08/18/2030 | 1200 | 1209 |
| **Lloyds Banking Group PLC**  |  |  |
| 3.574% due 11/07/2028 •  | 4100 | 4069 |
| 5.985% due 08/07/2027 •  | 3700 | 3742 |
| **MassMutual Global Funding II**  |  |  |
| 4.850% due 01/17/2029  | 6300 | 6432 |
| 4.950% due 01/10/2030  | 3000 | 3076 |
| **Mitsubishi UFJ Financial Group, Inc.**  |  |  |
| 4.080% due 04/19/2028 •  | 1000 | 1001 |
| 5.422% due 02/22/2029 •  | 5000 | 5146 |
| **Morgan Stanley**  |  |  |
| 2.239% due 07/21/2032 •  | 4000 | 3555 |
| 3.125% due 07/27/2026  | 1000 | 996 |
| 5.164% due 04/20/2029 •  | 5400 | 5524 |
| 5.652% due 04/13/2028 •  | 8000 | 8160 |
| **Mutual of Omaha Cos Global Funding** <br>5.450% due 12/12/2028 | 3000 | 3107 |
| **National Securities Clearing Corp.** <br>4.700% due 05/20/2030 | 2700 | 2762 |
| **NatWest Group PLC** <br>1.642% due 06/14/2027 •  | 5500 | 5441 |
| **NLG Global Funding** <br>5.400% due 01/23/2030 | 2500 | 2571 |
| **Nomura Holdings, Inc.** <br>2.999% due 01/22/2032 | 1000 | 908 |
| **Norinchukin Bank** <br>4.674% due 09/09/2030 | 1500 | 1511 |
| **Northwestern Mutual Global Funding** <br>4.960% due 01/13/2030 | 1500 | 1540 |
| **Northwestern University** <br>4.940% due 12/01/2035 | 4300 | 4378 |
| **Pacific Life Global Funding II**  |  |  |
| 1.375% due 04/14/2026  | 1200 | 1191 |
| 4.500% due 08/28/2029  | 2500 | 2528 |
| **PNC Financial Services Group, Inc.** <br>5.222% due 01/29/2031 •  | 2800 | 2899 |
| **Principal Life Global Funding II** <br>4.800% due 01/09/2028 | 3800 | 3854 |
| **Prologis Targeted U.S. Logistics Fund LP** <br>5.250% due 04/01/2029 | 3400 | 3505 |
| **Protective Life Global Funding**  |  |  |
| 4.992% due 01/12/2027  | 1800 | 1818 |
| 5.432% due 01/14/2032  | 3000 | 3126 |
| **RGA Global Funding**  |  |  |
| 5.448% due 05/24/2029  | 2000 | 2072 |
| 6.000% due 11/21/2028  | 5000 | 5250 |
| **Sammons Financial Group Global Funding**  |  |  |
| 4.615% due 09/02/2027 •  | 2700 | 2712 |
| 4.950% due 06/12/2030  | 3000 | 3045 |
| 5.050% due 01/10/2028  | 1500 | 1525 |
| **Santander Holdings USA, Inc.**  |  |  |
| 2.490% due 01/06/2028 •  | 500 | 492 |
| 3.244% due 10/05/2026  | 1000 | 994 |
| 4.400% due 07/13/2027  | 300 | 301 |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Santander U.K. Group Holdings PLC**  |  |  |
| 1.673% due 06/14/2027 •  | 1000 | 989 |
| 3.823% due 11/03/2028 •  | 300 | 298 |
| **SBA Tower Trust** <br>1.840% due 04/15/2027 | 3600 | 3488 |
| **Sumitomo Mitsui Financial Group, Inc.** <br>5.716% due 09/14/2028 | 3000 | 3126 |
| **SURA Asset Management SA** <br>4.375% due 04/11/2027 | 208 | 208 |
| **UBS Group AG**  |  |  |
| 3.091% due 05/14/2032 •  | 3900 | 3623 |
| 4.703% due 08/05/2027 •  | 4100 | 4115 |
| **Western-Southern Global Funding** <br>4.500% due 07/16/2028 | 5600 | 5648 |
|  |  | 323120 |
| **INDUSTRIALS 3.9%**  |  |  |
| **Adventist Health System** <br>2.952% due 03/01/2029 | 2500 | 2376 |
| **American Airlines Pass-Through Trust** <br>3.375% due 11/01/2028 | 901 | 890 |
| **Bayer U.S. Finance LLC** <br>6.125% due 11/21/2026 | 6200 | 6291 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 24800 | 26224 |
| **CommonSpirit Health** <br>4.352% due 09/01/2030 | 2400 | 2391 |
| **Cornell University** <br>4.169% due 06/15/2030 | 2400 | 2412 |
| **Elevance Health, Inc.** <br>4.750% due 02/15/2030 | 1000 | 1020 |
| **Enbridge, Inc.** <br>5.900% due 11/15/2026 | 2600 | 2639 |
| **Eni SpA** <br>5.500% due 05/15/2034 | 5400 | 5568 |
| **FactSet Research Systems, Inc.** <br>3.450% due 03/01/2032 | 500 | 465 |
| **Fiserv, Inc.** <br>4.750% due 03/15/2030 | 6250 | 6283 |
| **Global Payments, Inc.**  |  |  |
| 2.900% due 11/15/2031  | 500 | 448 |
| 4.500% due 11/15/2028  | 3600 | 3607 |
| **HCA, Inc.** <br>3.125% due 03/15/2027 | 2000 | 1980 |
| **JetBlue Pass-Through Trust** <br>2.750% due 11/15/2033 | 2375 | 2136 |
| **Leland Stanford Junior University** <br>4.679% due 03/01/2035 | 3400 | 3434 |
| **Marriott International, Inc.** <br>2.750% due 10/15/2033 | 900 | 787 |
| **Mars, Inc.** <br>4.600% due 03/01/2028 | 2000 | 2028 |
| **NTT Finance Corp.**  |  |  |
| 4.620% due 07/16/2028  | 1500 | 1520 |
| 5.289% (SOFRRATE + 1.310%) due 07/16/2030 ~  | 1000 | 1016 |
| **Philip Morris International, Inc.** <br>4.125% due 04/28/2028 | 1400 | 1406 |
| **Reliance, Inc.** <br>2.150% due 08/15/2030 | 500 | 453 |
| **Snam SpA** <br>5.000% due 05/28/2030 | 1600 | 1633 |
| **Sutter Health** <br>2.294% due 08/15/2030 | 2800 | 2579 |
| **T-Mobile USA, Inc.** <br>4.200% due 10/01/2029 | 2600 | 2605 |
| **United Airlines Pass-Through Trust**  |  |  |
| 2.700% due 11/01/2033  | 293 | 269 |
| 2.900% due 11/01/2029  | 1088 | 1043 |
| 4.550% due 02/25/2033  | 1081 | 1053 |
| 5.875% due 04/15/2029  | 884 | 907 |
| **Weir Group, Inc.** <br>5.350% due 05/06/2030 | 1100 | 1131 |
| **Woodside Finance Ltd.** <br>3.700% due 03/15/2028 | 700 | 692 |
| **WRKCo, Inc.** <br>3.900% due 06/01/2028 | 800 | 796 |
| **Yale University** <br>4.701% due 04/15/2032 | 5300 | 5456 |
|  |  | 93538 |
| **UTILITIES 3.2%**  |  |  |
| **AES Corp.** <br>5.450% due 06/01/2028 | 2000 | 2047 |

---

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<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Ameren Missouri Securitization Funding I LLC** <br>4.850% due 10/01/2041 | 2216 | 2235 |
| **Consumers Energy Co.** <br>4.900% due 02/15/2029 | 500 | 513 |
| **Empire District Bondco LLC** <br>4.943% due 01/01/2035 | 5514 | 5612 |
| **Entergy Arkansas LLC** <br>5.450% due 06/01/2034 | 3500 | 3665 |
| **Florida Power & Light Co.** <br>5.150% due 06/15/2029 | 2350 | 2443 |
| **National Rural Utilities Cooperative Finance Corp.** <br>5.100% due 05/06/2027 | 500 | 508 |
| **NBN Co. Ltd.** <br>1.450% due 05/05/2026 | 1000 | 992 |
| **NorthWestern Corp.** <br>5.073% due 03/21/2030 | 2000 | 2053 |
| **NSTAR Electric Co.** <br>5.600% due 10/01/2028 | 3500 | 3606 |
| **Ohio Edison Co.** <br>4.950% due 12/15/2029 | 1250 | 1279 |
| **Pacific Gas & Electric Co.**  |  |  |
| 4.400% due 03/01/2032  | 3000 | 2929 |
| 5.000% due 06/04/2028  | 1500 | 1527 |
| 5.450% due 06/15/2027  | 1600 | 1628 |
| **PG&E Recovery Funding LLC** <br>4.838% due 06/01/2035 | 3472 | 3534 |
| **Pinnacle West Capital Corp.** <br>5.150% due 05/15/2030 | 500 | 515 |
| **Southern California Edison Co.**  |  |  |
| 4.875% due 02/01/2027  | 7000 | 7048 |
| 5.300% due 03/01/2028  | 2100 | 2145 |
| **Southern California Gas Co.** <br>5.450% due 06/15/2035 | 3100 | 3237 |
| **Swepco Storm Recovery Funding LLC** <br>4.880% due 09/01/2041 | 3578 | 3619 |
| **System Energy Resources, Inc.** <br>5.300% due 12/15/2034 | 4200 | 4247 |
| **Texas Electric Market Stabilization Funding N LLC** <br>4.265% due 08/01/2036 | 8749 | 8731 |
| **Trans-Allegheny Interstate Line Co.** <br>5.000% due 01/15/2031 | 2300 | 2364 |
| **Verizon Communications, Inc.** <br>5.401% due 07/02/2037 | 812 | 821 |
| **Virginia Power Fuel Securitization LLC**  |  |  |
| 4.877% due 05/01/2033  | 5000 | 5116 |
| 5.088% due 05/01/2029  | 3848 | 3875 |
|  |  | 76289 |
| Total Corporate Bonds & Notes (Cost $487,441) |  | 492947 |
| **MUNICIPAL BONDS & NOTES 1.1%**  |  |  |
| **CALIFORNIA 0.2%**  |  |  |
| **Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021** <br>2.332% due 06/01/2027 | 2000 | 1947 |
| **University of California Revenue Notes, Series 2020** <br>1.316% due 05/15/2027 | 2600 | 2517 |
|  |  | 4464 |
| **FLORIDA 0.1%**  |  |  |
| **Miami-Dade County, Florida Revenue Notes, Series 2021** <br>1.471% due 10/01/2026 | 700 | 688 |
| **State Board of Administration Finance Corp. Florida Revenue Notes, Series 2024** <br>5.526% due 07/01/2034 | 3400 | 3578 |
|  |  | 4266 |
| **LOUISIANA 0.1%**  |  |  |
| **Louisiana Local Government Environmental Facilities & Community Development Auth Revenue Bonds, Series 2022** <br>4.275% due 02/01/2036 | 2200 | 2184 |
| **MASSACHUSETTS 0.0%**  |  |  |
| **University of Massachusetts Building Authority Revenue Bonds, (BABs), Series 2009** <br>6.423% due 05/01/2029 | 30 | 30 |
| **NEW YORK 0.3%**  |  |  |
| **New York State Urban Development Corp. Revenue Notes, Series 2019** <br>3.540% due 03/15/2028 | 7000 | 6980 |

---

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<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **OREGON 0.1%**  |  |  |
| **Oregon Department of Transportation State Revenue Notes, Series 2020** <br>1.084% due 11/15/2027 | 2000 | 1910 |
| **TEXAS 0.2%**  |  |  |
| **Houston Community College System, Texas General Obligation Notes, Series 2021** <br>5.000% due 02/15/2029 | 1800 | 1863 |
| **Williamson County, Texas General Obligation Notes, Series 2021** <br>0.640% due 02/15/2026 | 2500 | 2491 |
|  |  | 4354 |
| **WEST VIRGINIA 0.1%**  |  |  |
| **Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020** <br>2.951% due 06/01/2031 | 300 | 275 |
| **Tobacco Settlement Finance Authority, West Virginia Revenue Notes, Series 2020**  |  |  |
| 1.820% due 06/01/2026  | 800 | 793 |
| 2.551% due 06/01/2029  | 500 | 472 |
|  |  | 1540 |
| **WISCONSIN 0.0%**  |  |  |
| **Wisconsin State Revenue Notes, Series 2021** <br>1.486% due 05/01/2029 | 600 | 557 |
| Total Municipal Bonds & Notes (Cost $25,952) |  | 26285 |
| **U.S. GOVERNMENT AGENCIES 18.2%**  |  |  |
| **Federal Home Loan Banks**<br>1.050% due 08/13/2026 | 4800 | 4727 |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 0.800% due 10/28/2026 | 9200 | 8993 |
| 2.500% due 12/01/2032 | 701 | 681 |
| 4.000% due 08/01/2042 - 11/01/2052 | 44122 | 42197 |
| 4.170% due 04/01/2028 | 5826 | 5846 |
| 4.500% due 02/01/2049 - 02/01/2053 | 15480 | 15197 |
| 4.840% due 04/01/2028 | 2451 | 2473 |
| 5.500% due 03/01/2054 | 46080 | 46788 |
| 6.000% due 02/01/2055 - 03/01/2055 | 16786 | 17247 |
| 6.380% due 06/01/2037 •  | 42 | 44 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates**  |  |  |
| 2.903% due 07/25/2054 ~ | 3423 | 3332 |
| 4.650% due 08/25/2028 ~ | 2500 | 2543 |
| 4.850% due 09/25/2028 | 4300 | 4408 |
| 5.430% due 06/25/2031 ~ | 2600 | 2712 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 1.000% due 12/15/2040 - 05/25/2047 | 1365 | 1270 |
| 2.500% due 09/25/2048 | 1182 | 1106 |
| 3.000% due 08/15/2046 | 368 | 359 |
| 4.814% due 11/25/2054 •  | 19466 | 19549 |
| 4.823% due 07/15/2041 •  | 494 | 490 |
| 4.874% due 08/25/2054 •  | 2154 | 2162 |
| 4.924% due 08/25/2054 •  | 1212 | 1217 |
| 5.024% due 03/25/2055 - 08/25/2055 •  | 5664 | 5686 |
| **Federal Home Loan Mortgage Corp. STRIPS**<br>4.673% due 10/15/2037 •  | 378 | 374 |
| **Federal National Mortgage Association**  |  |  |
| 1.630% due 05/01/2027 | 5400 | 5242 |
| 2.500% due 02/01/2035 | 1012 | 984 |
| 3.000% due 01/01/2035 - 06/01/2052 | 20086 | 18065 |
| 3.020% due 03/01/2028 | 2594 | 2553 |
| 3.290% due 04/01/2027 | 6006 | 5963 |
| 3.500% due 12/01/2033 | 1233 | 1222 |
| 4.000% due 08/01/2042 - 04/01/2055 | 11392 | 10926 |
| 4.250% due 04/01/2030 | 5800 | 5834 |
| 4.300% due 12/01/2032 | 11000 | 10971 |
| 4.320% due 03/01/2030 | 4598 | 4644 |
| 4.500% due 08/01/2048 - 10/01/2052 | 38747 | 38005 |
| 4.600% due 04/01/2030 | 6700 | 6837 |
| 5.500% due 04/01/2034 - 04/01/2039 | 73 | 75 |
| 6.189% due 07/01/2034 •  | 18 | 19 |
| 6.278% due 10/01/2037 •  | 35 | 36 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 0.750% due 11/25/2050 | 2115 | 1585 |
| 4.229% due 06/25/2037 •  | 28 | 28 |
| 4.439% due 07/25/2049 •  | 1140 | 1119 |
| 4.499% due 03/25/2041 •  | 689 | 686 |
| 4.763% due 12/25/2046 •  | 305 | 303 |
| 4.773% due 10/25/2046 •  | 411 | 404 |
| 4.823% due 01/25/2047 •  | 340 | 339 |
| 4.924% due 01/25/2055 •  | 1636 | 1640 |
| 5.024% due 03/25/2055 •  | 804 | 807 |
| 5.074% due 10/25/2053 - 07/25/2055 •  | 4911 | 4936 |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Government National Mortgage Association REMICS**  |  |  |
| 1.500% due 10/20/2045 | 1337 | 1118 |
| 4.464% due 08/20/2065 •  | 134 | 134 |
| 4.554% due 06/20/2065 •  | 78 | 78 |
| 4.574% due 02/20/2067 •  | 233 | 233 |
| 4.634% due 10/20/2065 •  | 449 | 449 |
| 4.654% due 07/20/2063 •  | 52 | 52 |
| 4.684% due 06/20/2065 •  | 199 | 199 |
| 4.690% due 09/20/2065 •  | 203 | 203 |
| 4.694% due 06/20/2065 •  | 239 | 240 |
| 4.714% due 03/20/2065 •  | 446 | 447 |
| 4.764% due 12/20/2064 - 11/20/2065 •  | 553 | 554 |
| 4.884% due 02/20/2066 •  | 2 | 2 |
| 4.994% due 04/20/2066 •  | 616 | 619 |
| 5.014% due 04/20/2066 •  | 838 | 842 |
| 5.114% due 01/20/2067 •  | 392 | 395 |
| **Government National Mortgage Association, TBA**<br>5.000% due 01/01/2056 - 02/01/2056 | 55000 | 54831 |
| **Tennessee Valley Authority**<br>4.375% due 08/01/2034 | 2700 | 2728 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 3.000% due 02/01/2056 | 43600 | 38540 |
| 6.500% due 03/01/2056 | 18900 | 19664 |
| Total U.S. Government Agencies (Cost $430,856) |  | 433952 |
| **U.S. TREASURY OBLIGATIONS 35.3%**  |  |  |
| **U.S. Treasury Inflation Protected Securities (b)** |  |  |
| 2.125% due 01/15/2035  | 30230 | 30774 |
| **U.S. Treasury Notes**  |  |  |
| 3.500% due 09/30/2026 | 687500 | 687047 |
| 3.750% due 06/30/2027 | 37300 | 37448 |
| 3.875% due 07/31/2027 | 75600 | 76049 |
| 4.000% due 11/15/2035 | 11000 | 10843 |
| Total U.S. Treasury Obligations (Cost $838,702) |  | 842161 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 5.7%**  |  |  |
| **1166 Avenue of the Americas Commercial Mortgage Trust II** <br>5.690% due 10/13/2037 | 1551 | 1572 |
| **1211 Avenue of the Americas Trust** <br>3.901% due 08/10/2035 | 7000 | 6779 |
| **Bank**  |  |  |
| 2.808% due 10/17/2052  | 1873 | 1837 |
| 2.978% due 11/15/2062  | 12500 | 11864 |
| 3.432% due 05/15/2062  | 1771 | 1752 |
| 3.623% due 04/15/2052  | 2004 | 1991 |
| 4.005% due 02/15/2052  | 7100 | 7043 |
| 4.217% due 08/15/2061 ~  | 7000 | 7011 |
| **Bank5**  |  |  |
| 4.745% due 11/15/2058  | 2000 | 2026 |
| 4.793% due 12/15/2058  | 6000 | 6084 |
| **BBCMS Mortgage Trust**  |  |  |
| 3.488% due 02/15/2050  | 334 | 332 |
| 5.137% due 12/15/2057  | 2200 | 2258 |
| 5.433% due 02/15/2062  | 3200 | 3348 |
| **Benchmark Mortgage Trust**  |  |  |
| 3.615% due 03/15/2062  | 2684 | 2667 |
| 4.957% due 08/15/2058  | 3800 | 3874 |
| 5.176% due 04/15/2057  | 2500 | 2571 |
| 5.184% due 10/15/2058  | 2100 | 2164 |
| 5.660% due 04/15/2057  | 2800 | 2931 |
| **BMO Mortgage Trust**  |  |  |
| 5.057% due 10/15/2058  | 1300 | 1316 |
| 5.092% due 11/15/2057  | 3500 | 3578 |
| 5.153% due 12/15/2057  | 2000 | 2051 |
| 5.462% due 02/15/2057  | 4000 | 4112 |
| 5.566% due 11/15/2057 ~  | 1000 | 1039 |
| 5.857% due 02/15/2057  | 4100 | 4285 |
| **BX Commercial Mortgage Trust**  |  |  |
| 4.594% due 10/15/2036 •  | 387 | 387 |
| 4.785% due 12/15/2038 •  | 3387 | 3388 |
| **BX Trust** <br>4.453% due 09/15/2034 •  | 8482 | 8463 |
| **Citigroup Commercial Mortgage Trust**  |  |  |
| 3.268% due 09/15/2050  | 357 | 354 |
| 3.297% due 10/12/2050  | 1489 | 1478 |
| **COMM Mortgage Trust** <br>4.181% due 05/10/2051 | 702 | 703 |
| **EQUS Mortgage Trust** <br>4.770% due 10/15/2038 •  | 5484 | 5485 |
| **Hilton USA Trust** <br>3.719% due 11/05/2038 | 2000 | 1987 |
| **JP Morgan Chase Commercial Mortgage Securities Trust**  |  |  |
| 4.248% due 07/05/2033  | 2800 | 2671 |
| 5.007% due 07/05/2033 •  | 1072 | 1048 |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **JPMDB Commercial Mortgage Securities Trust**  |  |  |
| 3.242% due 10/15/2050  | 350 | 348 |
| 3.409% due 10/15/2050  | 2000 | 1967 |
| **Morgan Stanley Capital I Trust**  |  |  |
| 2.606% due 08/15/2049  | 30 | 30 |
| 2.860% due 11/15/2049  | 316 | 314 |
| **MSSG Trust** <br>3.397% due 09/13/2039 | 3400 | 3248 |
| **New Orleans Hotel Trust** <br>4.787% due 04/15/2032 •  | 2700 | 2684 |
| **SMRT Commercial Mortgage Trust** <br>4.751% due 01/15/2039 •  | 1926 | 1927 |
| **Starwood Mortgage Trust** <br>4.723% due 11/15/2036 •  | 2550 | 2546 |
| **UBS Commercial Mortgage Trust**  |  |  |
| 3.215% due 08/15/2050  | 835 | 829 |
| 3.460% due 04/15/2052  | 2145 | 2126 |
| 3.903% due 02/15/2051  | 674 | 672 |
| 4.119% due 06/15/2051  | 912 | 911 |
| **Wells Fargo Commercial Mortgage Trust**  |  |  |
| 3.390% due 11/15/2050  | 353 | 351 |
| 4.147% due 06/15/2051  | 289 | 289 |
| 5.439% due 11/15/2057  | 4100 | 4245 |
| 5.920% due 11/15/2057 ~  | 2700 | 2844 |
| Total Non-Agency Mortgage-Backed Securities (Cost $133,425) |  | 135780 |
| **ASSET-BACKED SECURITIES 10.9%**  |  |  |
| **AUTOMOBILE SEQUENTIAL 4.0%**  |  |  |
| **Avis Budget Rental Car Funding AESOP LLC**  |  |  |
| 5.250% due 04/20/2029  | 4000 | 4090 |
| 5.360% due 06/20/2030  | 7000 | 7229 |
| 5.440% due 02/22/2028  | 4000 | 4050 |
| 5.780% due 04/20/2028  | 6400 | 6515 |
| 6.020% due 02/20/2030  | 6550 | 6873 |
| **Bank of America Auto Trust** <br>5.660% due 11/15/2029 | 2000 | 2040 |
| **Capital One Prime Auto Receivables Trust** <br>5.820% due 06/15/2028 | 2458 | 2487 |
| **CarMax Auto Owner Trust** <br>6.000% due 07/17/2028 | 3687 | 3735 |
| **Carvana Auto Receivables Trust** <br>4.040% due 11/11/2030 | 7000 | 7022 |
| **Chesapeake Funding II LLC** <br>5.520% due 05/15/2036 | 1285 | 1301 |
| **Ford Credit Auto Lease Trust** <br>5.060% due 05/15/2027 | 2098 | 2102 |
| **Ford Credit Auto Owner Trust** <br>5.280% due 02/15/2036 | 3700 | 3827 |
| **GM Financial Consumer Automobile Receivables Trust** <br>5.780% due 08/16/2028 | 3317 | 3351 |
| **GM Financial Revolving Receivables Trust** <br>5.770% due 08/11/2036 | 6000 | 6303 |
| **Hertz Vehicle Financing III LLC** <br>6.150% due 03/25/2030 | 3400 | 3564 |
| **Honda Auto Receivables Owner Trust** <br>4.570% due 03/21/2029 | 3700 | 3729 |
| **Hyundai Auto Lease Securitization Trust**  |  |  |
| 4.530% due 04/17/2028  | 5000 | 5047 |
| 5.840% due 09/15/2027  | 8700 | 8725 |
| **Nissan Auto Lease Trust** <br>4.910% due 04/15/2027 | 5157 | 5171 |
| **SFS Auto Receivables Securitization Trust**  |  |  |
| 5.470% due 10/20/2028  | 1873 | 1885 |
| 5.470% due 12/20/2029  | 3200 | 3255 |
| **Toyota Lease Owner Trust** <br>5.660% due 11/20/2026 | 42 | 42 |
| **World Omni Auto Receivables Trust** <br>5.150% due 11/15/2028 | 2635 | 2651 |
|  |  | 94994 |
| **CMBS OTHER 1.3%**  |  |  |
| **ACREC Ltd.** <br>4.999% due 10/16/2036 •  | 275 | 275 |
| **Arbor Realty Commercial Real Estate Notes Ltd.** <br>5.215% due 11/15/2036 •  | 1313 | 1321 |
| **AREIT Trust**  |  |  |
| 5.187% due 01/20/2037 •  | 1562 | 1560 |
| 5.978% due 06/17/2039 •  | 4133 | 4135 |
| **BDS LLC** <br>5.531% due 03/19/2039 •  | 2716 | 2721 |
| **BDS Ltd.** <br>5.199% due 12/16/2036 •  | 1217 | 1218 |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Greystone CRE Notes LLC** <br>5.231% due 01/15/2043 •  | 2150 | 2155 |
| **HGI CRE CLO Ltd.** <br>5.674% due 04/20/2037 •  | 1360 | 1358 |
| **LoanCore Issuer Ltd.**  |  |  |
| 5.165% due 11/15/2038 •  | 468 | 470 |
| 5.493% due 01/17/2037 •  | 665 | 666 |
| **LRECS LLC** <br>5.500% due 08/19/2043 •  | 5500 | 5510 |
| **MF1 LLC** <br>6.366% due 09/17/2037 •  | 782 | 783 |
| **MF1 Ltd.** <br>5.081% due 02/19/2037 •  | 3247 | 3247 |
| **Starwood Ltd.** <br>5.049% due 04/18/2038 •  | 2933 | 2936 |
| **TRTX Issuer Ltd.** <br>5.386% due 02/15/2039 •  | 2428 | 2424 |
|  |  | 30779 |
| **CREDIT CARD OTHER 0.4%**  |  |  |
| **Capital One Multi-Asset Execution Trust** <br>4.420% due 05/15/2028 | 5600 | 5612 |
| **Synchrony Card Funding LLC** <br>5.740% due 10/15/2029 | 3700 | 3754 |
|  |  | 9366 |
| **OTHER ABS 5.2%**  |  |  |
| **Anchorage Capital CLO 21 Ltd.** <br>4.934% due 10/20/2034 •  | 2800 | 2798 |
| **Apidos CLO XI** <br>5.122% due 04/17/2034 •  | 2500 | 2503 |
| **ARES LXII CLO Ltd.** <br>4.928% due 01/25/2034 •  | 3000 | 3000 |
| **Atlas Senior Loan Fund XIII** <br>5.199% due 04/22/2031 •  | 52 | 52 |
| **Atlas Senior Loan Fund XV Ltd.** <br>5.080% due 10/23/2032 •  | 3586 | 3588 |
| **Atlas Senior Loan Fund XVIII Ltd.** <br>4.994% due 01/18/2035 •  | 2000 | 2000 |
| **Bain Capital Credit CLO Ltd.** <br>5.007% due 04/22/2035 •  | 1500 | 1500 |
| **Bethpage Park CLO Ltd.** <br>5.296% due 01/15/2035 •  | 3700 | 3712 |
| **Birch Grove CLO Ltd.** <br>5.472% due 07/17/2037 •  | 4100 | 4117 |
| **Capital Street Master Trust** <br>5.074% due 08/16/2029 •  | 2000 | 1998 |
| **CarVal CLO III Ltd.** <br>4.874% due 07/20/2032 •  | 2879 | 2881 |
| **CBAMR Ltd.** <br>5.535% due 07/15/2037 •  | 6000 | 6006 |
| **DLLMT LLC** <br>5.340% due 03/22/2027 | 2523 | 2534 |
| **Dryden 95 CLO Ltd.** <br>4.929% due 08/20/2034 •  | 2300 | 2299 |
| **ECMC Group Student Loan Trust**  |  |  |
| 4.739% due 02/27/2068 •  | 922 | 918 |
| 4.789% due 09/25/2068 •  | 1529 | 1520 |
| 4.989% due 07/25/2069 •  | 2002 | 2006 |
| 4.989% due 01/27/2070 •  | 883 | 886 |
| 5.039% due 05/25/2067 •  | 610 | 610 |
| **Elevation CLO Ltd.** <br>4.988% due 07/25/2034 •  | 1500 | 1499 |
| **Flatiron CLO 19 Ltd.** <br>5.032% due 11/16/2034 •  | 713 | 713 |
| **KKR CLO 16 Ltd.** <br>4.988% due 10/20/2034 •  | 1800 | 1801 |
| **KKR CLO 21 Ltd.** <br>5.166% due 04/15/2031 •  | 331 | 331 |
| **LCM 30 Ltd.** <br>5.226% due 04/20/2031 •  | 643 | 643 |
| **Madison Park Funding XLIX Ltd.** <br>4.934% due 10/19/2034 •  | 2600 | 2600 |
| **Madison Park Funding XLVI Ltd.** <br>4.905% due 10/15/2034 •  | 5800 | 5796 |
| **Madison Park Funding XXXVI Ltd.** <br>4.965% due 04/15/2035 •  | 2000 | 2000 |
| **Navient Private Education Loan Trust** <br>5.315% due 07/16/2040 •  | 750 | 751 |
| **Navient Refinance Loan Trust** <br>4.800% due 10/15/2055 | 3878 | 3890 |
| **Navient Student Loan Trust**  |  |  |
| 5.139% due 07/26/2066 •  | 3343 | 3371 |
| 6.480% due 03/15/2072  | 541 | 560 |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Nelnet Student Loan Trust**  |  |  |
| 4.878% due 04/20/2062 •  | 4800 | 4808 |
| 5.268% due 06/22/2065 •  | 3440 | 3469 |
| 5.334% due 05/17/2055 •  | 3369 | 3396 |
| **Newark BSL CLO 2 Ltd.** <br>5.090% due 07/25/2030 •  | 127 | 128 |
| **Octagon Investment Partners 40 Ltd.** <br>4.924% due 01/20/2035 •  | 4400 | 4399 |
| **OZLM XXIV Ltd.** <br>5.306% due 07/20/2032 •  | 588 | 589 |
| **PK ALIFT Loan Funding 7 LP** <br>4.750% due 03/15/2043 | 1661 | 1666 |
| **Riserva CLO Ltd.** <br>4.934% due 01/18/2034 •  | 1200 | 1200 |
| **Saranac CLO VI Ltd.** <br>5.125% due 08/13/2031 •  | 440 | 440 |
| **Sculptor CLO XXVII Ltd.** <br>4.944% due 07/20/2034 •  | 4500 | 4500 |
| **Silver Rock CLO II Ltd.** <br>4.924% due 01/20/2035 •  | 5500 | 5500 |
| **SLM Private Education Loan Trust** <br>8.615% due 10/15/2041 •  | 1561 | 1642 |
| **SMB Private Education Loan Trust**  |  |  |
| 3.630% due 11/15/2035  | 1771 | 1765 |
| 4.595% due 01/15/2053 •  | 1791 | 1775 |
| 5.130% due 04/15/2054  | 1862 | 1892 |
| 5.434% due 02/16/2055 •  | 581 | 586 |
| **THL Credit Wind River CLO Ltd.** <br>5.105% due 04/15/2035 •  | 3000 | 3003 |
| **Tralee CLO V Ltd.** <br>4.964% due 10/20/2034 •  | 2100 | 2100 |
| **Verdelite Static CLO Ltd.** <br>5.014% due 07/20/2032 •  | 2920 | 2921 |
| **Verizon Master Trust**  |  |  |
| 4.170% due 08/20/2030  | 3900 | 3926 |
| 4.350% due 08/20/2032  | 2500 | 2525 |
| **Voya CLO Ltd.** <br>4.944% due 04/20/2034 •  | 1200 | 1200 |
| **Whetstone Park CLO Ltd.** <br>4.954% due 01/20/2035 •  | 2300 | 2300 |
|  |  | 124613 |
| Total Asset-Backed Securities (Cost $256,887) |  | 259752 |
| **SOVEREIGN ISSUES 0.2%**  |  |  |
| **Mexico Government International Bonds** <br>6.000% due 05/13/2030 | 1100 | 1155 |
| **Province of Quebec** <br>2.500% due 04/20/2026 | 2200 | 2191 |
| Total Sovereign Issues (Cost $3,290) |  | 3346 |
|  | SHARES |  |
| **COMMON STOCKS 0.0%**  |  |  |
| **REAL ESTATE 0.0%**  |  |  |
| **MNSN Holdings, Inc. «(a)(c)** | 1397 | 70 |
| Total Common Stocks (Cost $27) |  | 70 |
| **PREFERRED SECURITIES 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **SVB Financial Trust**<br>11.000% due 11/07/2032 | 1593 | 759 |
| Total Preferred Securities (Cost $1,548) |  | 759 |
| **SHORT-TERM INSTRUMENTS 21.0%**  |  |  |
| **REPURCHASE AGREEMENTS (d) 21.0%** |  | 499900 |
| Total Short-Term Instruments (Cost $499,900) |  | 499900 |
| Total Investments in Securities (Cost $2,678,028) |  | 2694952 |
| Total Investments 113.1% (Cost $2,678,028) |  | $2694952 |
| **Financial Derivative Instruments (e) (0.0)**%(Cost or Premiums, net $603) |  | (4) |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | |
|:---|:---|
| Other Assets and Liabilities, net (13.1)% | (311146) |
| Net Assets 100.0% | $2383802 |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 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:**  | **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.** | **\* 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.** | **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).** | **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.** | **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.** | **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.** |
| **(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.** | **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)** | **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.** | **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.** |
| **(c)** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **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 | Issuer Description |  |  | Acquisition<br>Date | Acquisition<br>Date | Cost | Cost | Cost |  | Market<br>Value | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets | Market Value<br>as Percentage<br>of Net Assets |
| MNSN Holdings, Inc. | MNSN Holdings, Inc. | MNSN Holdings, Inc. | MNSN Holdings, Inc. |  |  | 03/10/2023 | 03/10/2023 | 27 | 27 | 27 | $ | 70 | 70 | 0.00 | 0.00% |
| **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** | **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** |
| **(d)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Lending<br>Rate | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Collateral<br>(Received) | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreements,<br>at Value |  | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 3.790%  | 01/05/2026 | $230100 | 230100 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% - 3.500% due 11/30/2030 - 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% - 3.500% due 11/30/2030 - 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% - 3.500% due 11/30/2030 - 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% - 3.500% due 11/30/2030 - 02/15/2031 | $(234703) | (234703) | (234703) | $230100 | 230100 | $ | $230100 |
|  | 3.870  | 01/02/2026 | 229800 | 229800 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 06/30/2028 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 06/30/2028 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 06/30/2028 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 06/30/2028 | (234307) | (234307) | (234307) | 229800 | 229800 |  | 229849 |
|  | 3.900  | 01/02/2026 | 40000 | 40000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% - 4.375% due 11/30/2028 - 08/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% - 4.375% due 11/30/2028 - 08/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% - 4.375% due 11/30/2028 - 08/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% - 4.375% due 11/30/2028 - 08/31/2029 | (40801) | (40801) | (40801) | 40000 | 40000 |  | 40009 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  | $**(509811)** | **(509811)** | **(509811)** | $**499900** | **499900** | **$** | $**499958** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |
| **(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** | **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:** | **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** | **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> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Description | Expiration<br>Month | # of<br>Contracts | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset |  | Liability |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 3213 | 3213 | 670839 | $(47) | (47) | (47) | (47) | $0 | 0 | 0 | $ | (226) |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 1400 | 1400 | 153027 | (328) | (328) | (328) | (328) | 0 | 0 | 0 |  | (164) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 424 | 424 | 47674 | (79) | (79) | (79) | (79) | 0 | 0 | 0 |  | (86) |
|  |  |  |  |  |  |  | (454) | (454) | (454) | $ | 0 | 0 | $ | $ | (476) |
| **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> | <u>Variation Margin</u> |
| Description | Description | Description | Expiration<br>Month | # of<br>Contracts | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset |  | Liability |
| U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | 03/2026 | 84 | 84 | (9710) | $75 | 75 | 75 | 75 | $18 | 18 | 18 | $ | 0 |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 335 | 335 | (39530) | 670 | 670 | 670 | 670 | 126 | 126 | 126 |  | 0 |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 153 | 153 | (17597) | 43 | 43 | 43 | 43 | 29 | 29 | 29 |  | 0 |
|  |  |  |  |  |  |  | 788 | 788 | 788 | $ | 173 | 173 | $ | $ | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **334** | **334** | **334** | **$** | **173** | **173** | **$** | **$** | **(476)** |

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<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Fixed Rate | 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 | Liability |
| 3.510% | 11/30/2028 | $6100 | 6100 | $0 | 0 | $(27) | (27) | $(27) | (27) | 6 | $0 |
| 3.515 | 11/30/2028 | 6500 | 6500 | 0 | 0 | (30) | (30) | (30) | (30) | 6 | 0 |
| 3.300 | 02/28/2029 | 13200 | 13200 | (24) | (24) | 158 | 158 | 134 | 134 | 15 | 0 |
| 3.620 | 02/14/2030 | 14100 | 14100 | 145 | 145 | (174) | (174) | (29) | (29) | 19 | 0 |
| 3.290 | 05/31/2030 | 28679 | 28679 | (10) | (10) | 132 | 132 | 122 | 122 | 41 | 0 |
| 3.375 | 05/31/2030 | 37908 | 37908 | 38 | 38 | (1) | (1) | 37 | 37 | 54 | 0 |
| 3.328 | 04/30/2031 | 2400 | 2400 | 0 | 0 | 34 | 34 | 34 | 34 | 4 | 0 |
| 3.431 | 04/30/2031 | 3900 | 3900 | 0 | 0 | 32 | 32 | 32 | 32 | 7 | 0 |
| 3.300 | 06/30/2031 | 7100 | 7100 | 0 | 0 | 105 | 105 | 105 | 105 | 12 | 0 |
| 3.750 | 05/15/2032 | 58723 | 58723 | (58) | (58) | (528) | (528) | (586) | (586) | 106 | 0 |
| 4.012 | 02/14/2035 | 7700 | 7700 | (75) | (75) | (67) | (67) | (142) | (142) | 17 | 0 |
| 3.000 | 02/12/2055 | 4100 | 4100 | 587 | 587 | 274 | 274 | 861 | 861 | 12 | 0 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **603** | **$** | **(92)** | **$** | **511** | **$** | **$** | **0** |
| **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $14,950 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| 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. |
| **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |  |
| **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** |  |
| 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 |  |
| Banking & Finance | Banking & Finance | Banking & Finance | 0 | 0 | $ | 323120 | $ | 0 | $ | 323120 |  |
| Industrials | Industrials | Industrials | 0 | 0 |  | 93538 |  | 0 |  | 93538 |  |
| Utilities | Utilities | Utilities | 0 | 0 |  | 76289 |  | 0 |  | 76289 |  |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |  |
| California | California | California | 0 | 0 |  | 4464 |  | 0 |  | 4464 |  |
| Florida | Florida | Florida | 0 | 0 |  | 4266 |  | 0 |  | 4266 |  |
| Louisiana | Louisiana | Louisiana | 0 | 0 |  | 2184 |  | 0 |  | 2184 |  |
| Massachusetts | Massachusetts | Massachusetts | 0 | 0 |  | 30 |  | 0 |  | 30 |  |
| New York | New York | New York | 0 | 0 |  | 6980 |  | 0 |  | 6980 |  |
| Oregon | Oregon | Oregon | 0 | 0 |  | 1910 |  | 0 |  | 1910 |  |
| Texas | Texas | Texas | 0 | 0 |  | 4354 |  | 0 |  | 4354 |  |
| West Virginia | West Virginia | West Virginia | 0 | 0 |  | 1540 |  | 0 |  | 1540 |  |
| Wisconsin | Wisconsin | Wisconsin | 0 | 0 |  | 557 |  | 0 |  | 557 |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 |  | 433952 |  | 0 |  | 433952 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 |  | 842161 |  | 0 |  | 842161 |  |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 0 |  | 135780 |  | 0 |  | 135780 |  |
| 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 |  |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | 0 | 0 |  | 94994 |  | 0 |  | 94994 |  |
| CMBS Other | CMBS Other | CMBS Other | 0 | 0 |  | 30779 |  | 0 |  | 30779 |  |
| Credit Card Other | Credit Card Other | Credit Card Other | 0 | 0 |  | 9366 |  | 0 |  | 9366 |  |
| Other ABS | Other ABS | Other ABS | 0 | 0 |  | 124613 |  | 0 |  | 124613 |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 |  | 3346 |  | 0 |  | 3346 |  |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |  |
| Real Estate | Real Estate | Real Estate | 0 | 0 |  | 0 |  | 70 |  | 70 |  |
| Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |  |
| Industrials | Industrials | Industrials | 0 | 0 |  | 759 |  | 0 |  | 759 |  |
| 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 |  |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 |  | 499900 |  | 0 |  | 499900 |  |
| Total Investments | Total Investments | Total Investments | 0 | 0 | $ | 2694882 | $ | 70 | $ | 2694952 |  |
| **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**  |  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 0 | 0 | $ | 472 | $ | 0 | $ | 472 |  |
| **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**  |  |

---

------

<br> Schedule of Investments PIMCO Low Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Exchange-traded or centrally cleared | $0 | $(476) | $0 | $(476) |
| Total Financial Derivative Instruments | $0 | $(4) | $0 | $(4) |
| Totals | $0 | $2694878 | $70 | $2694948 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio December 31, 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 129.0% ¤** |  |  |
| **CORPORATE BONDS & NOTES 22.0%**  |  |  |
| **BANKING & FINANCE 12.6%**  |  |  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**  |  |  |
| 2.450% due 10/29/2026  | $4000 | $3947 |
| 4.625% due 09/10/2029  | 3650 | 3692 |
| **American National Global Funding** <br>4.625% due 12/15/2028 | 3500 | 3516 |
| **Ameriprise Financial, Inc.** <br>5.700% due 12/15/2028 | 1300 | 1363 |
| **Andrew W Mellon Foundation** <br>0.947% due 08/01/2027 | 7000 | 6691 |
| **Athene Global Funding**  |  |  |
| 4.860% due 08/27/2026  | 6700 | 6727 |
| 5.380% due 01/07/2030  | 4500 | 4608 |
| **Banco Bilbao Vizcaya Argentaria SA** <br>5.381% due 03/13/2029 | 3000 | 3113 |
| **Banco Santander SA** <br>6.033% due 01/17/2035 | 2200 | 2357 |
| **Bank of America Corp.**  |  |  |
| 1.922% due 10/24/2031 •  | 2900 | 2595 |
| 3.419% due 12/20/2028 •  | 2000 | 1975 |
| **Bank of Nova Scotia** <br>4.404% due 09/08/2028 •  | 1000 | 1005 |
| **Banque Federative du Credit Mutuel SA**  |  |  |
| 5.790% due 07/13/2028  | 5550 | 5766 |
| 5.896% due 07/13/2026  | 3450 | 3485 |
| **Barclays PLC**  |  |  |
| 2.667% due 03/10/2032 •  | 1400 | 1276 |
| 2.894% due 11/24/2032 •  | 8000 | 7293 |
| 7.437% due 11/02/2033 •  | 9300 | 10638 |
| **BNP Paribas SA**  |  |  |
| 1.904% due 09/30/2028 •  | 5900 | 5681 |
| 2.871% due 04/19/2032 •  | 7050 | 6445 |
| 3.052% due 01/13/2031 •  | 4400 | 4168 |
| **BPCE SA** <br>5.936% due 05/30/2035 •  | 1200 | 1252 |
| **Brighthouse Financial Global Funding** <br>5.650% due 06/10/2029 | 3000 | 3070 |
| **Brookfield Asset Management Ltd.** <br>5.795% due 04/24/2035 | 5750 | 6029 |
| **Brookfield Finance, Inc.** <br>4.350% due 04/15/2030 | 550 | 552 |
| **CaixaBank SA** <br>5.673% due 03/15/2030 •  | 5000 | 5195 |
| **Capital One Financial Corp.** <br>7.624% due 10/30/2031 •  | 3100 | 3504 |
| **Chubb INA Holdings LLC** <br>4.650% due 08/15/2029 | 3000 | 3068 |
| **Citigroup, Inc.** <br>2.572% due 06/03/2031 •  | 3000 | 2781 |
| **CNO Global Funding**  |  |  |
| 4.700% due 12/11/2030  | 3000 | 3006 |
| 5.875% due 06/04/2027  | 2000 | 2046 |
| **Consumers Securitization Funding LLC** <br>5.550% due 03/01/2028 | 2240 | 2264 |
| **Cooperatieve Rabobank UA**  |  |  |
| 4.494% due 10/17/2029  | 4000 | 4073 |
| 5.710% due 01/21/2033 •  | 4000 | 4215 |
| **Corebridge Global Funding**  |  |  |
| 4.584% (SOFRRATE + 0.860%) due 12/15/2028 ~  | 1900 | 1904 |
| 5.750% due 07/02/2026  | 6000 | 6055 |
| 5.900% due 09/19/2028  | 2000 | 2091 |
| **Deutsche Bank AG** <br>7.146% due 07/13/2027 •  | 6000 | 6093 |
| **Equitable America Global Funding** <br>4.950% due 06/09/2030 | 5200 | 5299 |
| **Extra Space Storage LP** <br>5.400% due 06/15/2035 | 1000 | 1026 |
| **F&G Global Funding**  |  |  |
| 4.650% due 09/08/2028  | 1000 | 1007 |
| 5.875% due 01/16/2030  | 1800 | 1870 |
| **Fairfax Financial Holdings Ltd.** <br>5.750% due 05/20/2035 | 6000 | 6244 |

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<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **First American Financial Corp.** <br>2.400% due 08/15/2031 | 2100 | 1835 |
| **GA Global Funding Trust**  |  |  |
| 1.625% due 01/15/2026  | 1600 | 1599 |
| 5.400% due 01/13/2030  | 5700 | 5848 |
| **Goldman Sachs Group, Inc.** <br>3.691% due 06/05/2028 •  | 7175 | 7139 |
| **Guardian Life Global Funding** <br>5.737% due 10/02/2028 | 6000 | 6267 |
| **HSBC Holdings PLC**  |  |  |
| 2.848% due 06/04/2031 •  | 1550 | 1449 |
| 3.973% due 05/22/2030 •  | 5000 | 4941 |
| **ING Groep NV**  |  |  |
| 4.738% due 04/01/2027 •  | 4000 | 4006 |
| 5.550% due 03/19/2035 •  | 2000 | 2081 |
| **Jackson National Life Global Funding**  |  |  |
| 4.600% due 10/01/2029  | 2700 | 2710 |
| 4.675% (SOFRRATE + 0.950%) due 09/12/2028 ~  | 4000 | 4014 |
| 4.700% due 06/05/2028  | 5600 | 5662 |
| **JPMorgan Chase & Co.**  |  |  |
| 1.953% due 02/04/2032 •  | 13900 | 12401 |
| 2.739% due 10/15/2030 •  | 2700 | 2562 |
| 5.581% due 04/22/2030 •  | 1000 | 1044 |
| **KKR Group Finance Co. VI LLC** <br>3.750% due 07/01/2029 | 1600 | 1568 |
| **Lincoln Financial Global Funding** <br>4.625% due 08/18/2030 | 2000 | 2015 |
| **Lloyds Banking Group PLC** <br>3.574% due 11/07/2028 •  | 7800 | 7741 |
| **LSEG Finance PLC** <br>2.000% due 04/06/2028 | 1400 | 1340 |
| **MassMutual Global Funding II**  |  |  |
| 4.850% due 01/17/2029  | 8400 | 8576 |
| 4.950% due 01/10/2030  | 3000 | 3076 |
| 5.150% due 05/30/2029  | 2900 | 2990 |
| **Metropolitan Life Global Funding I** <br>1.875% due 01/11/2027 | 5500 | 5392 |
| **Mitsubishi UFJ Financial Group, Inc.** <br>2.048% due 07/17/2030 | 6000 | 5454 |
| **Mizuho Financial Group, Inc.**  |  |  |
| 1.979% due 09/08/2031 •  | 2000 | 1798 |
| 2.172% due 05/22/2032 •  | 15450 | 13744 |
| **Morgan Stanley**  |  |  |
| 2.239% due 07/21/2032 •  | 1100 | 978 |
| 2.475% due 01/21/2028 •  | 16100 | 15842 |
| 5.656% due 04/18/2030 •  | 2000 | 2084 |
| **Mutual of Omaha Cos Global Funding** <br>5.800% due 07/27/2026 | 2200 | 2223 |
| **National Securities Clearing Corp.** <br>4.700% due 05/20/2030 | 4000 | 4092 |
| **NatWest Group PLC**  |  |  |
| 1.642% due 06/14/2027 •  | 10000 | 9892 |
| 4.800% due 04/05/2026  | 3000 | 3008 |
| **NLG Global Funding** <br>5.400% due 01/23/2030 | 3800 | 3908 |
| **Norinchukin Bank** <br>5.359% due 09/09/2035 | 2900 | 2941 |
| **Northwestern Mutual Global Funding**  |  |  |
| 4.900% due 06/12/2028  | 4000 | 4093 |
| 4.960% due 01/13/2030  | 1300 | 1335 |
| **Northwestern University** <br>4.940% due 12/01/2035 | 6000 | 6108 |
| **Pacific Life Global Funding II**  |  |  |
| 4.500% due 08/28/2029  | 5150 | 5207 |
| 4.875% due 07/17/2032  | 3600 | 3669 |
| **PNC Financial Services Group, Inc.**  |  |  |
| 5.222% due 01/29/2031 •  | 4400 | 4556 |
| 5.300% due 01/21/2028 •  | 1750 | 1773 |
| **Pricoa Global Funding I** <br>4.650% due 08/27/2031 | 4300 | 4359 |
| **Principal Life Global Funding II** <br>4.800% due 01/09/2028 | 5500 | 5578 |
| **Prologis Targeted U.S. Logistics Fund LP** <br>5.500% due 04/01/2034 | 3000 | 3124 |
| **Protective Life Global Funding**  |  |  |
| 1.618% due 04/15/2026  | 3000 | 2980 |
| 4.992% due 01/12/2027  | 1800 | 1818 |
| 5.432% due 01/14/2032  | 2000 | 2084 |
| 5.467% due 12/08/2028  | 1000 | 1037 |
| **RGA Global Funding**  |  |  |
| 2.700% due 01/18/2029  | 2500 | 2387 |
| 5.448% due 05/24/2029  | 4200 | 4352 |
| 6.000% due 11/21/2028  | 5000 | 5250 |
| **Safehold GL Holdings LLC** <br>6.100% due 04/01/2034 | 5800 | 6150 |

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<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sammons Financial Group Global Funding**  |  |  |
| 4.615% due 09/02/2027 •  | 4250 | 4268 |
| 4.950% due 06/12/2030  | 5750 | 5837 |
| 5.050% due 01/10/2028  | 1500 | 1525 |
| **Santander U.K. Group Holdings PLC**  |  |  |
| 1.673% due 06/14/2027 •  | 1000 | 989 |
| 2.469% due 01/11/2028 •  | 2700 | 2655 |
| 3.823% due 11/03/2028 •  | 4000 | 3975 |
| **SBA Tower Trust** <br>1.884% due 07/15/2050 | 8000 | 7991 |
| **SMBC Aviation Capital Finance DAC** <br>5.700% due 07/25/2033 | 3900 | 4075 |
| **Sumitomo Mitsui Financial Group, Inc.** <br>3.040% due 07/16/2029 | 7500 | 7209 |
| **UBS Group AG**  |  |  |
| 2.095% due 02/11/2032 •  | 12000 | 10650 |
| 3.091% due 05/14/2032 •  | 6600 | 6130 |
| 4.703% due 08/05/2027 •  | 2000 | 2007 |
| **Unum Group** <br>5.250% due 12/15/2035 | 3700 | 3674 |
| **Wells Fargo & Co.**  |  |  |
| 2.393% due 06/02/2028 •  | 2800 | 2737 |
| 4.478% due 04/04/2031 •  | 10000 | 10068 |
| **Western-Southern Global Funding** <br>4.700% due 12/10/2032 | 3500 | 3482 |
|  |  | 464337 |
| **INDUSTRIALS 5.2%**  |  |  |
| **Adventist Health System** <br>2.952% due 03/01/2029 | 4299 | 4085 |
| **Air Canada Pass-Through Trust** <br>3.750% due 06/15/2029 | 298 | 294 |
| **American Airlines Pass-Through Trust**  |  |  |
| 2.875% due 01/11/2036  | 1343 | 1230 |
| 3.375% due 11/01/2028  | 2861 | 2826 |
| 3.650% due 08/15/2030  | 1833 | 1803 |
| **Bayer U.S. Finance LLC**  |  |  |
| 6.375% due 11/21/2030  | 2000 | 2139 |
| 6.500% due 11/21/2033  | 1800 | 1949 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 38100 | 40287 |
| **Bon Secours Mercy Health, Inc.** <br>3.464% due 06/01/2030 | 12000 | 11712 |
| **British Airways Pass-Through Trust** <br>2.900% due 09/15/2036 | 559 | 512 |
| **CGI, Inc.** <br>4.950% due 03/14/2030 | 3000 | 3043 |
| **CHRISTUS Health** <br>4.341% due 07/01/2028 | 3000 | 3014 |
| **CommonSpirit Health** <br>2.782% due 10/01/2030 | 4700 | 4381 |
| **Cornell University** <br>4.169% due 06/15/2030 | 1800 | 1809 |
| **CVS Pass-Through Trust** <br>7.507% due 01/10/2032 | 762 | 809 |
| **Eastern Energy Gas Holdings LLC** <br>5.800% due 01/15/2035 | 4100 | 4332 |
| **Elevance Health, Inc.**  |  |  |
| 2.550% due 03/15/2031  | 1000 | 914 |
| 5.200% due 02/15/2035  | 1000 | 1022 |
| **Energy Transfer LP** <br>5.200% due 04/01/2030 | 2200 | 2268 |
| **Eni SpA** <br>5.500% due 05/15/2034 | 8100 | 8351 |
| **Fiserv, Inc.**  |  |  |
| 4.750% due 03/15/2030  | 5000 | 5026 |
| 5.150% due 08/12/2034  | 1200 | 1191 |
| **Georgetown University** <br>2.247% due 04/01/2030 | 4500 | 4160 |
| **Global Payments, Inc.**  |  |  |
| 4.500% due 11/15/2028  | 3000 | 3006 |
| 5.200% due 11/15/2032  | 4500 | 4505 |
| **Greensaif Pipelines Bidco SARL** <br>5.853% due 02/23/2036 | 1500 | 1571 |
| **JetBlue Pass-Through Trust** <br>2.750% due 11/15/2033 | 5757 | 5178 |
| **Kraft Heinz Foods Co.** <br>5.400% due 03/15/2035 | 2500 | 2569 |
| **Leland Stanford Junior University** <br>4.679% due 03/01/2035 | 5300 | 5353 |
| **Mars, Inc.**  |  |  |
| 4.800% due 03/01/2030  | 3500 | 3578 |
| 5.000% due 03/01/2032  | 2700 | 2784 |
| **NTT Finance Corp.** <br>4.876% due 07/16/2030 | 3200 | 3260 |

---

------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Philip Morris International, Inc.** <br>4.375% due 04/30/2030 | 5100 | 5133 |
| **Providence St. Joseph Health Obligated Group** <br>5.403% due 10/01/2033 | 3000 | 3100 |
| **Smith & Nephew PLC** <br>5.400% due 03/20/2034 | 2000 | 2070 |
| **Snam SpA** <br>5.750% due 05/28/2035 | 2000 | 2093 |
| **Stryker Corp.** <br>4.250% due 09/11/2029 | 1800 | 1810 |
| **Sutter Health**  |  |  |
| 2.294% due 08/15/2030  | 7700 | 7092 |
| 3.695% due 08/15/2028  | 1300 | 1293 |
| 5.213% due 08/15/2032  | 2100 | 2177 |
| 5.537% due 08/15/2035  | 400 | 418 |
| **Synopsys, Inc.** <br>5.000% due 04/01/2032 | 2800 | 2863 |
| **T-Mobile USA, Inc.** <br>4.700% due 01/15/2035 | 3350 | 3293 |
| **United Airlines Pass-Through Trust**  |  |  |
| 2.700% due 11/01/2033  | 1463 | 1346 |
| 3.100% due 01/07/2030  | 693 | 676 |
| 3.450% due 01/07/2030  | 520 | 508 |
| 4.550% due 02/25/2033  | 3051 | 2974 |
| 5.875% due 04/15/2029  | 3129 | 3210 |
| **UPMC** <br>5.035% due 05/15/2033 | 1300 | 1328 |
| **Weir Group, Inc.** <br>5.350% due 05/06/2030 | 2900 | 2981 |
| **Yale University** <br>4.701% due 04/15/2032 | 8100 | 8339 |
|  |  | 191665 |
| **UTILITIES 4.2%**  |  |  |
| **Ameren Missouri Securitization Funding I LLC** <br>4.850% due 10/01/2041 | 3469 | 3499 |
| **Consumers Energy Co.**  |  |  |
| 4.700% due 01/15/2030  | 1750 | 1789 |
| 4.900% due 02/15/2029  | 5300 | 5440 |
| **DTE Electric Co.** <br>5.250% due 05/15/2035 | 5500 | 5656 |
| **DTE Electric Securitization Funding II LLC** <br>5.970% due 03/01/2033 | 3933 | 4175 |
| **Empire District Bondco LLC** <br>4.943% due 01/01/2035 | 8615 | 8769 |
| **Entergy Arkansas LLC** <br>5.450% due 06/01/2034 | 6000 | 6283 |
| **Evergy Metro, Inc.** <br>5.400% due 04/01/2034 | 900 | 938 |
| **Florida Power & Light Co.**  |  |  |
| 5.150% due 06/15/2029  | 6000 | 6239 |
| 5.300% due 06/15/2034  | 3000 | 3144 |
| **National Grid PLC** <br>5.602% due 06/12/2028 | 3100 | 3203 |
| **National Rural Utilities Cooperative Finance Corp.** <br>5.100% due 05/06/2027 | 8000 | 8124 |
| **NBN Co. Ltd.**  |  |  |
| 1.450% due 05/05/2026  | 3000 | 2974 |
| 4.250% due 10/01/2029  | 1400 | 1402 |
| **New York State Electric & Gas Corp.** <br>5.650% due 08/15/2028 | 2000 | 2083 |
| **NorthWestern Corp.** <br>5.073% due 03/21/2030 | 2400 | 2464 |
| **Ohio Edison Co.** <br>4.950% due 12/15/2029 | 1500 | 1535 |
| **Pacific Gas & Electric Co.**  |  |  |
| 3.000% due 06/15/2028  | 2400 | 2328 |
| 3.300% due 03/15/2027  | 3000 | 2969 |
| 5.450% due 06/15/2027  | 3500 | 3560 |
| 6.100% due 01/15/2029  | 1200 | 1257 |
| 6.400% due 06/15/2033  | 1900 | 2053 |
| 6.950% due 03/15/2034  | 2700 | 3005 |
| **PacifiCorp** <br>5.300% due 02/15/2031 | 2200 | 2266 |
| **PG&E Recovery Funding LLC** <br>4.838% due 06/01/2035 | 6553 | 6670 |
| **Public Service Co. of Colorado** <br>5.350% due 05/15/2034 | 5000 | 5140 |
| **Public Service Electric & Gas Co.** <br>4.850% due 08/01/2034 | 3700 | 3732 |
| **Puget Sound Energy, Inc.** <br>5.330% due 06/15/2034 | 1900 | 1960 |
| **San Diego Gas & Electric Co.**  |  |  |
| 1.700% due 10/01/2030  | 1285 | 1148 |
| 5.400% due 04/15/2035  | 3000 | 3107 |

---

------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **SCE Recovery Funding LLC** <br>4.453% due 03/15/2036 | 7400 | 7428 |
| **Southern California Edison Co.** <br>4.875% due 02/01/2027 | 1000 | 1007 |
| **Swepco Storm Recovery Funding LLC** <br>4.880% due 09/01/2041 | 5511 | 5575 |
| **System Energy Resources, Inc.** <br>5.300% due 12/15/2034 | 6000 | 6068 |
| **Texas Electric Market Stabilization Funding N LLC**  |  |  |
| 4.265% due 08/01/2036  | 8670 | 8652 |
| 4.966% due 02/01/2044  | 4600 | 4540 |
| **Trans-Allegheny Interstate Line Co.** <br>5.000% due 01/15/2031 | 3600 | 3700 |
| **Verizon Communications, Inc.** <br>5.000% due 01/15/2036 | 4500 | 4463 |
| **Virginia Power Fuel Securitization LLC**  |  |  |
| 4.877% due 05/01/2033  | 5000 | 5116 |
| 5.088% due 05/01/2029  | 2405 | 2422 |
|  |  | 155883 |
| Total Corporate Bonds & Notes (Cost $812,985) |  | 811885 |
| **MUNICIPAL BONDS & NOTES 2.4%**  |  |  |
| **ALABAMA 0.1%**  |  |  |
| **Alabama Economic Settlement Authority Revenue Bonds, Series 2016** <br>4.263% due 09/15/2032 | 3545 | 3544 |
| **CALIFORNIA 0.7%**  |  |  |
| **California State University Revenue Notes, Series 2020**  |  |  |
| 1.338% due 11/01/2027  | 1000 | 961 |
| 1.490% due 11/01/2028  | 5400 | 5084 |
| 1.690% due 11/01/2029  | 4400 | 4073 |
| 1.740% due 11/01/2030  | 2600 | 2354 |
| **Fresno County, California Revenue Bonds, (NPFGC Insured), Series 2004** <br>0.000% due 08/15/2030 (a) | 5200 | 4295 |
| **Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021**  |  |  |
| 2.787% due 06/01/2031  | 1000 | 909 |
| 3.037% due 06/01/2032  | 4200 | 3788 |
| **Marin County, California Revenue Bonds, (NPFGC Insured), Series 2003** <br>5.410% due 08/01/2026 | 720 | 727 |
| **Monterey Park, California Revenue Notes, Series 2021**  |  |  |
| 1.630% due 06/01/2028  | 250 | 236 |
| 1.893% due 06/01/2030  | 300 | 271 |
| **Riverside, California Electric Revenue Bonds, (BABs), Series 2010** <br>7.605% due 10/01/2040 | 500 | 597 |
| **University of California Revenue Notes, Series 2020**  |  |  |
| 1.316% due 05/15/2027  | 1200 | 1162 |
| 1.366% due 05/15/2027  | 3000 | 2906 |
|  |  | 27363 |
| **FLORIDA 0.1%**  |  |  |
| **Miami-Dade County, Florida Revenue Notes, Series 2021** <br>1.936% due 10/01/2028 | 1000 | 950 |
| **State Board of Administration Finance Corp. Florida Revenue Notes, Series 2024** <br>5.526% due 07/01/2034 | 5100 | 5366 |
|  |  | 6316 |
| **KANSAS 0.1%**  |  |  |
| **Wyandotte County-Kansas City Unified Government Utility System, Kansas Revenue Notes, Series 2020**  |  |  |
| 1.861% due 09/01/2028  | 2000 | 1898 |
| 1.961% due 09/01/2029  | 600 | 558 |
|  |  | 2456 |
| **LOUISIANA 0.1%**  |  |  |
| **Louisiana Local Government Environmental Facilities & Community Development Auth Revenue Bonds, Series 2022** <br>4.145% due 02/01/2033 | 4400 | 4405 |
| **MICHIGAN 0.0%**  |  |  |
| **Michigan Finance Authority Revenue Notes, Series 2019** <br>2.596% due 12/01/2026 | 1400 | 1385 |
| **NEW YORK 0.6%**  |  |  |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2010** <br>5.008% due 08/01/2027 | 900 | 916 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Notes, Series 2019** <br>2.980% due 11/01/2027 | 7000 | 6910 |
| **New York City, New York Transitional Finance Authority Revenue Bonds, Series 2024** <br>4.375% due 05/01/2037 | 5500 | 5305 |

---

------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **New York State Urban Development Corp. Revenue Notes, Series 2020** <br>1.496% due 03/15/2027 | 9400 | 9173 |
|  |  | 22304 |
| **TEXAS 0.2%**  |  |  |
| **Houston Community College System, Texas General Obligation Notes, Series 2021** <br>5.000% due 02/15/2029 | 2000 | 2070 |
| **Texas Natural Gas Securitization Finance Corp. Revenue Bonds, Series 2023** <br>5.102% due 04/01/2035 | 4187 | 4300 |
| **Texas Transportation Commission State Highway Fund Revenue Bonds, (BABs), Series 2010** <br>5.028% due 04/01/2026 | 575 | 576 |
|  |  | 6946 |
| **UTAH 0.1%**  |  |  |
| **Utah Municipal Power Agency Revenue Bonds, Series 2016** <br>3.237% due 07/01/2028 | 2000 | 1976 |
| **WEST VIRGINIA 0.3%**  |  |  |
| **Tobacco Settlement Finance Authority, West Virginia Revenue Notes, Series 2020**  |  |  |
| 1.820% due 06/01/2026  | 3300 | 3270 |
| 2.020% due 06/01/2027  | 4400 | 4278 |
| 2.351% due 06/01/2028  | 3000 | 2876 |
|  |  | 10424 |
| **WISCONSIN 0.1%**  |  |  |
| **Wisconsin State Revenue Notes, Series 2020** <br>2.299% due 05/01/2028 | 2100 | 2034 |
| Total Municipal Bonds & Notes (Cost $90,884) |  | 89153 |
| **U.S. GOVERNMENT AGENCIES 45.1%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 2.500% due 04/01/2051 - 10/01/2053 | 33171 | 28141 |
| 3.000% due 10/01/2046 - 06/01/2052 | 96373 | 85673 |
| 3.500% due 06/01/2044 - 10/01/2048 | 782 | 741 |
| 4.000% due 05/01/2047 - 01/01/2055 | 64848 | 61981 |
| 4.500% due 10/01/2048 - 01/01/2053 | 95359 | 93579 |
| 5.000% due 02/01/2053 - 12/01/2053 | 72288 | 72366 |
| 6.000% due 02/01/2055 - 03/01/2055 | 74698 | 76747 |
| 6.500% due 04/01/2054 - 05/01/2055 | 22655 | 23583 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates**  |  |  |
| 2.903% due 07/25/2054 ~ | 6357 | 6188 |
| 4.650% due 08/25/2028 ~ | 4800 | 4882 |
| 4.850% due 09/25/2028 | 1400 | 1435 |
| 5.430% due 06/25/2031 ~ | 3000 | 3130 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 1.000% due 12/15/2040 - 05/25/2047 | 13965 | 12632 |
| 1.250% due 12/15/2044 | 1198 | 1012 |
| 2.500% due 09/25/2048 | 3043 | 2847 |
| 4.398% due 09/15/2035 •  | 4 | 4 |
| 4.498% due 02/15/2041 •  | 128 | 126 |
| 4.548% due 04/15/2041 •  | 39 | 39 |
| 4.568% due 11/15/2036 •  | 33 | 33 |
| 4.648% due 04/15/2041 •  | 322 | 320 |
| 4.673% due 08/15/2040 - 10/15/2040 •  | 1428 | 1405 |
| 4.763% due 07/15/2040 •  | 1276 | 1264 |
| 4.814% due 11/25/2054 •  | 29198 | 29323 |
| 4.823% due 07/15/2041 - 03/15/2042 •  | 3312 | 3299 |
| 4.874% due 08/25/2054 •  | 3261 | 3273 |
| 4.924% due 08/25/2054 •  | 1789 | 1797 |
| 5.024% due 03/25/2055 - 08/25/2055 •  | 7176 | 7205 |
| **Federal Home Loan Mortgage Corp. STRIPS**<br>4.673% due 10/15/2037 •  | 1916 | 1894 |
| **Federal National Mortgage Association**  |  |  |
| 1.630% due 05/01/2027 | 8200 | 7961 |
| 2.500% due 03/01/2051 - 07/01/2053 | 36624 | 31094 |
| 3.000% due 01/01/2035 - 07/01/2052 | 254982 | 226481 |
| 3.020% due 03/01/2028 | 1 | 1 |
| 3.290% due 04/01/2027 - 03/01/2028 | 12484 | 12378 |
| 3.430% due 05/01/2028 | 65 | 64 |
| 3.500% due 10/01/2034 - 07/01/2048 | 5093 | 4945 |
| 4.000% due 01/01/2046 - 04/01/2055 | 88044 | 84367 |
| 4.250% due 04/01/2030 | 8700 | 8752 |
| 4.300% due 12/01/2032 | 16800 | 16756 |
| 4.320% due 03/01/2030 | 7112 | 7182 |
| 4.500% due 08/01/2048 - 05/01/2053 | 63146 | 61965 |
| 4.600% due 04/01/2030 | 8700 | 8878 |
| 5.000% due 01/01/2028 - 07/01/2053 | 6582 | 6624 |
| 5.500% due 01/01/2027 - 02/01/2054 | 26914 | 27355 |
| 6.189% due 07/01/2034 •  | 53 | 54 |
| 6.278% due 10/01/2037 •  | 104 | 109 |
| 6.500% due 05/01/2054 - 05/01/2055 | 19544 | 20351 |

---

------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Federal National Mortgage Association REMICS**  |  |  |
| 0.750% due 11/25/2050 | 13089 | 9806 |
| 4.229% due 06/25/2037 •  | 100 | 99 |
| 4.239% due 11/25/2045 •  | 282 | 278 |
| 4.289% due 12/25/2045 •  | 159 | 157 |
| 4.339% due 03/25/2035 - 03/25/2046 •  | 328 | 325 |
| 4.586% due 03/25/2036 •  | 197 | 194 |
| 4.719% due 06/25/2040 •  | 113 | 113 |
| 4.723% due 11/25/2046 •  | 238 | 234 |
| 4.743% due 11/25/2046 - 12/25/2056 •  | 2068 | 2029 |
| 4.763% due 12/25/2046 •  | 1334 | 1324 |
| 4.773% due 07/25/2046 - 10/25/2046 •  | 2120 | 2084 |
| 4.823% due 01/25/2047 •  | 1362 | 1355 |
| 4.924% due 01/25/2055 •  | 2126 | 2132 |
| 5.024% due 03/25/2055 •  | 804 | 807 |
| 5.074% due 10/25/2053 - 07/25/2055 •  | 6559 | 6592 |
| **Government National Mortgage Association**<br>3.500% due 09/20/2045 | 1163 | 1084 |
| **Government National Mortgage Association REMICS**  |  |  |
| 1.500% due 10/20/2045 | 4610 | 3853 |
| 3.000% due 01/20/2067 | 1715 | 1686 |
| 4.654% due 07/20/2063 •  | 198 | 199 |
| 4.684% due 06/20/2065 •  | 1533 | 1534 |
| 4.690% due 09/20/2065 •  | 813 | 813 |
| 4.714% due 03/20/2065 •  | 1211 | 1213 |
| 4.764% due 12/20/2064 - 06/20/2066 •  | 1737 | 1740 |
| 4.794% due 08/20/2061 •  | 1 | 1 |
| 4.844% due 09/20/2063 •  | 7 | 7 |
| 4.864% due 10/20/2063 - 09/20/2065 •  | 107 | 108 |
| 4.884% due 02/20/2066 •  | 7 | 7 |
| 4.914% due 05/20/2066 •  | 943 | 947 |
| 4.994% due 04/20/2066 •  | 1605 | 1613 |
| 5.014% due 04/20/2066 •  | 1642 | 1650 |
| 5.034% due 07/20/2065 •  | 50 | 50 |
| 5.064% due 12/20/2066 •  | 1073 | 1080 |
| 5.114% due 01/20/2067 •  | 1475 | 1485 |
| 5.264% due 03/20/2066 •  | 771 | 777 |
| **Government National Mortgage Association, TBA**  |  |  |
| 3.000% due 01/01/2056 | 17720 | 15925 |
| 3.500% due 02/01/2056 | 114200 | 103931 |
| 5.000% due 01/01/2056 | 53000 | 52887 |
| 6.000% due 02/01/2056 | 51900 | 52859 |
| **Tennessee Valley Authority**<br>4.375% due 08/01/2034 | 3200 | 3233 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 2.500% due 02/01/2056 | 76600 | 64757 |
| 3.000% due 02/01/2056 | 23500 | 20773 |
| 4.000% due 02/01/2056 | 260300 | 246773 |
| 6.500% due 02/01/2056 | 7600 | 7900 |
| Total U.S. Government Agencies (Cost $1,640,808) |  | 1666650 |
| **U.S. TREASURY OBLIGATIONS 11.6%**  |  |  |
| **U.S. Treasury Inflation Protected Securities (b)** |  |  |
| 2.125% due 01/15/2035  | 46428 | 47264 |
| **U.S. Treasury Notes**  |  |  |
| 4.000% due 07/31/2029 (e) | 60000 | 60786 |
| 4.000% due 06/30/2032 | 17600 | 17704 |
| 4.000% due 11/15/2035 | 60000 | 59142 |
| 4.125% due 07/31/2031 | 131760 | 133927 |
| 4.375% due 01/31/2032 | 1100 | 1131 |
| 4.875% due 10/31/2030 (e) | 105000 | 110320 |
| Total U.S. Treasury Obligations (Cost $423,973) |  | 430274 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 5.9%**  |  |  |
| **225 Liberty Street Trust** <br>3.597% due 02/10/2036 | 1200 | 1176 |
| **Bank**  |  |  |
| 1.805% due 11/15/2053  | 5890 | 5641 |
| 2.933% due 09/15/2062  | 7736 | 7568 |
| 3.183% due 08/15/2061  | 4300 | 4077 |
| 4.775% due 10/15/2057  | 3000 | 3003 |
| 5.158% due 12/25/2067  | 2079 | 2141 |
| **Bank5**  |  |  |
| 4.745% due 11/15/2058  | 3500 | 3545 |
| 5.270% due 12/15/2058  | 7900 | 8172 |
| **BBCMS Mortgage Trust**  |  |  |
| 4.534% due 09/15/2058  | 2000 | 2010 |
| 5.009% due 12/15/2058  | 4500 | 4558 |
| 5.433% due 02/15/2062  | 3300 | 3452 |
| 5.586% due 07/15/2058 ~  | 2400 | 2527 |
| 5.609% due 12/15/2057  | 5100 | 5320 |
| 5.720% due 02/15/2062  | 1700 | 1811 |
| **Benchmark Mortgage Trust**  |  |  |
| 2.615% due 12/15/2054  | 1626 | 1539 |

---

------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 2.888% due 08/15/2057  | 3476 | 3405 |
| 2.957% due 12/15/2062  | 4766 | 4663 |
| 3.780% due 02/15/2051 ~  | 369 | 368 |
| 4.232% due 01/15/2052  | 5700 | 5658 |
| 4.704% due 10/15/2058  | 1400 | 1416 |
| 4.767% due 01/15/2058 ~  | 2300 | 2331 |
| 5.184% due 10/15/2058  | 2000 | 2061 |
| 5.439% due 08/15/2058 ~  | 2700 | 2808 |
| 5.660% due 04/15/2057  | 7400 | 7746 |
| **BMO Mortgage Trust**  |  |  |
| 5.057% due 10/15/2058  | 2400 | 2430 |
| 5.566% due 11/15/2057 ~  | 7000 | 7275 |
| 5.625% due 12/15/2057 ~  | 4500 | 4688 |
| 5.857% due 02/15/2057  | 12300 | 12856 |
| **BX Commercial Mortgage Trust**  |  |  |
| 4.594% due 10/15/2036 •  | 476 | 476 |
| 4.785% due 12/15/2038 •  | 2199 | 2200 |
| **Cantor Commercial Real Estate Lending** <br>2.817% due 11/15/2052 | 6335 | 6211 |
| **COMM Mortgage Trust**  |  |  |
| 2.873% due 08/15/2057  | 1299 | 1273 |
| 3.091% due 10/10/2049  | 3700 | 3661 |
| 3.510% due 09/10/2050  | 4200 | 4146 |
| 4.228% due 05/10/2051  | 3800 | 3746 |
| **CSAIL Commercial Mortgage Trust** <br>2.957% due 09/15/2052 | 6450 | 6348 |
| **CSMC Trust** <br>5.715% due 10/15/2037 •  | 5300 | 5287 |
| **CSWF Corp.** <br>4.931% due 06/15/2034 •  | 13 | 13 |
| **JP Morgan Chase Commercial Mortgage Securities Trust** <br>5.214% due 12/15/2036 •  | 6000 | 2967 |
| **JPMBB Commercial Mortgage Securities Trust** <br>3.639% due 11/15/2047 | 206 | 203 |
| **JPMDB Commercial Mortgage Securities Trust**  |  |  |
| 2.982% due 11/13/2052  | 2481 | 2438 |
| 2.994% due 12/15/2049  | 56 | 56 |
| 3.144% due 06/15/2049  | 2900 | 2882 |
| **Morgan Stanley Bank of America Merrill Lynch Trust** <br>3.306% due 04/15/2048 | 287 | 284 |
| **Morgan Stanley Capital I Trust**  |  |  |
| 2.606% due 08/15/2049  | 71 | 71 |
| 3.067% due 11/15/2052  | 4814 | 4721 |
| 3.587% due 12/15/2050  | 700 | 692 |
| **MSWF Commercial Mortgage Trust** <br>6.014% due 12/15/2056 ~ | 4000 | 4321 |
| **NYO Commercial Mortgage Trust** <br>4.960% due 11/15/2038 •  | 18000 | 17987 |
| **UBS Commercial Mortgage Trust**  |  |  |
| 2.866% due 10/15/2052  | 5200 | 5092 |
| 2.987% due 12/15/2052  | 726 | 713 |
| 3.366% due 10/15/2050  | 802 | 799 |
| 3.504% due 12/15/2050  | 2491 | 2478 |
| 3.903% due 02/15/2051  | 1573 | 1569 |
| 4.195% due 08/15/2051  | 592 | 593 |
| **Wells Fargo Commercial Mortgage Trust**  |  |  |
| 2.651% due 02/15/2053  | 1204 | 1171 |
| 2.652% due 08/15/2049  | 1600 | 1583 |
| 3.311% due 06/15/2052  | 4750 | 4535 |
| 4.147% due 06/15/2051  | 673 | 674 |
| 5.920% due 11/15/2057 ~  | 9900 | 10429 |
| **WSTN Trust** <br>6.297% due 07/05/2037 ~ | 3000 | 3056 |
| Total Non-Agency Mortgage-Backed Securities (Cost $223,766) |  | 216920 |
| **ASSET-BACKED SECURITIES 10.5%**  |  |  |
| **AUTOMOBILE SEQUENTIAL 3.6%**  |  |  |
| **Avis Budget Rental Car Funding AESOP LLC**  |  |  |
| 5.250% due 04/20/2029  | 6000 | 6135 |
| 5.360% due 06/20/2030  | 11000 | 11360 |
| 5.440% due 02/22/2028  | 5000 | 5062 |
| 5.810% due 12/20/2029  | 7900 | 8225 |
| 6.020% due 02/20/2030  | 3500 | 3673 |
| **Bank of America Auto Trust** <br>5.660% due 11/15/2029 | 3950 | 4029 |
| **Capital One Prime Auto Receivables Trust** <br>5.820% due 06/15/2028 | 3792 | 3837 |
| **CarMax Auto Owner Trust** <br>6.000% due 07/17/2028 | 5900 | 5977 |
| **Carvana Auto Receivables Trust** <br>4.240% due 08/11/2031 | 11200 | 11258 |
| **Chesapeake Funding II LLC** <br>5.520% due 05/15/2036 | 1799 | 1821 |

---

------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Ford Credit Auto Owner Trust** <br>5.280% due 02/15/2036 | 3800 | 3931 |
| **GM Financial Consumer Automobile Receivables Trust**  |  |  |
| 5.710% due 02/16/2029  | 5000 | 5128 |
| 5.780% due 08/16/2028  | 1412 | 1426 |
| **GM Financial Revolving Receivables Trust**  |  |  |
| 4.520% due 03/11/2037  | 6700 | 6817 |
| 4.980% due 12/11/2036  | 6300 | 6486 |
| 5.770% due 08/11/2036  | 5400 | 5672 |
| **Hertz Vehicle Financing III LLC**  |  |  |
| 5.570% due 09/25/2029  | 8000 | 8248 |
| 6.150% due 03/25/2030  | 3400 | 3565 |
| **Honda Auto Receivables Owner Trust**  |  |  |
| 4.510% due 11/21/2030  | 1000 | 1011 |
| 4.570% due 03/21/2029  | 4700 | 4737 |
| **Hyundai Auto Lease Securitization Trust** <br>4.530% due 04/17/2028 | 6500 | 6561 |
| **Nissan Auto Lease Trust**  |  |  |
| 4.910% due 04/15/2027  | 8596 | 8618 |
| 4.970% due 09/15/2028  | 2200 | 2211 |
| **SBNA Auto Lease Trust** <br>6.520% due 04/20/2028 | 1000 | 1006 |
| **SFS Auto Receivables Securitization Trust**  |  |  |
| 4.940% due 01/21/2031  | 500 | 508 |
| 4.950% due 05/21/2029  | 666 | 670 |
| **Toyota Lease Owner Trust** <br>5.660% due 11/20/2026 | 42 | 42 |
| **Volkswagen Auto Loan Enhanced Trust** <br>5.020% due 06/20/2028 | 2649 | 2665 |
| **World Omni Auto Receivables Trust**  |  |  |
| 5.030% due 11/15/2029  | 900 | 911 |
| 5.150% due 11/15/2028  | 1437 | 1446 |
|  |  | 133036 |
| **CMBS OTHER 0.9%**  |  |  |
| **ACREC Ltd.** <br>4.999% due 10/16/2036 •  | 806 | 806 |
| **Arbor Realty Commercial Real Estate Notes Ltd.** <br>5.215% due 11/15/2036 •  | 3895 | 3920 |
| **AREIT Trust**  |  |  |
| 5.187% due 01/20/2037 •  | 2677 | 2674 |
| 5.847% due 08/17/2041 •  | 885 | 885 |
| 5.978% due 06/17/2039 •  | 1890 | 1890 |
| **BDS Ltd.** <br>5.199% due 12/16/2036 •  | 1132 | 1133 |
| **GPMT Ltd.**  |  |  |
| 5.198% due 12/15/2036 •  | 872 | 874 |
| 5.349% due 07/16/2035 •  | 598 | 598 |
| **Greystone CRE Notes LLC** <br>5.231% due 01/15/2043 •  | 3500 | 3509 |
| **LoanCore Issuer Ltd.** <br>5.165% due 11/15/2038 •  | 620 | 624 |
| **LRECS LLC** <br>5.500% due 08/19/2043 •  | 8500 | 8516 |
| **MF1 LLC** <br>6.366% due 09/17/2037 •  | 708 | 709 |
| **MF1 Ltd.** <br>4.929% due 10/16/2036 •  | 663 | 663 |
| **Starwood Ltd.** <br>5.049% due 04/18/2038 •  | 4190 | 4194 |
| **TRTX Issuer Ltd.** <br>5.386% due 02/15/2039 •  | 2961 | 2956 |
|  |  | 33951 |
| **CREDIT CARD BULLET 0.2%**  |  |  |
| **American Express Credit Account Master Trust**  |  |  |
| 4.800% due 05/15/2030  | 2000 | 2049 |
| 5.240% due 04/15/2031  | 6000 | 6259 |
|  |  | 8308 |
| **CREDIT CARD OTHER 0.4%**  |  |  |
| **Capital One Multi-Asset Execution Trust** <br>4.420% due 05/15/2028 | 8300 | 8317 |
| **Synchrony Card Funding LLC** <br>5.740% due 10/15/2029 | 5000 | 5073 |
|  |  | 13390 |
| **OTHER ABS 5.4%**  |  |  |
| **Anchorage Capital CLO 21 Ltd.** <br>4.934% due 10/20/2034 •  | 4200 | 4197 |

---

------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Anchorage Credit Funding 1 Ltd.** <br>3.900% due 07/28/2037 | 735 | 730 |
| **Anchorage Credit Funding 19 Ltd.** <br>5.036% due 10/25/2040 | 2000 | 2001 |
| **Apidos CLO XI** <br>5.122% due 04/17/2034 •  | 6800 | 6808 |
| **ARES LXII CLO Ltd.** <br>4.928% due 01/25/2034 •  | 4700 | 4700 |
| **Atlantic Avenue Ltd.** <br>5.266% due 10/15/2038 •  | 3900 | 3913 |
| **Atlas Senior Loan Fund XVII Ltd.** <br>4.944% due 10/20/2034 •  | 1000 | 998 |
| **Atlas Senior Loan Fund XVIII Ltd.** <br>4.994% due 01/18/2035 •  | 2000 | 2000 |
| **Bethpage Park CLO Ltd.** <br>5.296% due 01/15/2035 •  | 5691 | 5709 |
| **Birch Grove CLO Ltd.** <br>5.472% due 07/17/2037 •  | 6200 | 6226 |
| **BlueMountain CLO XXXIV Ltd.** <br>5.034% due 04/20/2035 •  | 2400 | 2401 |
| **Capital Street Master Trust** <br>5.074% due 08/16/2029 •  | 3000 | 2997 |
| **CBAMR Ltd.** <br>5.535% due 07/15/2037 •  | 9200 | 9209 |
| **CQS U.S. CLO 5 Ltd.** <br>5.101% due 01/17/2039 •  | 8500 | 8508 |
| **DLLMT LLC**  |  |  |
| 5.340% due 03/22/2027  | 1514 | 1520 |
| 5.350% due 03/20/2031  | 5660 | 5721 |
| **Dryden 95 CLO Ltd.** <br>4.929% due 08/20/2034 •  | 3600 | 3599 |
| **ECMC Group Student Loan Trust**  |  |  |
| 4.739% due 02/27/2068 •  | 2657 | 2644 |
| 4.789% due 09/25/2068 •  | 3595 | 3574 |
| 4.989% due 01/27/2070 •  | 4490 | 4505 |
| 5.039% due 05/25/2067 •  | 2319 | 2319 |
| **Elevation CLO Ltd.**  |  |  |
| 4.988% due 07/25/2034 •  | 2200 | 2198 |
| 5.158% due 01/25/2035 •  | 4500 | 4506 |
| **Flatiron CLO 19 Ltd.** <br>5.032% due 11/16/2034 •  | 2138 | 2139 |
| **Gallatin CLO VIII Ltd.** <br>5.256% due 07/15/2031 •  | 1787 | 1788 |
| **ICG U.S. CLO Ltd.**  |  |  |
| 4.884% due 01/16/2033 •  | 2359 | 2361 |
| 5.034% due 10/20/2034 •  | 4500 | 4502 |
| **Jamestown CLO XVI Ltd.** <br>4.978% due 07/25/2034 •  | 3200 | 3201 |
| **KKR CLO 21 Ltd.** <br>5.166% due 04/15/2031 •  | 662 | 663 |
| **LCM 36 Ltd.** <br>4.975% due 01/15/2034 •  | 1000 | 999 |
| **Navient Private Education Loan Trust** <br>5.315% due 07/16/2040 •  | 1116 | 1118 |
| **Navient Private Education Refi Loan Trust**  |  |  |
| 4.765% due 01/15/2043 •  | 150 | 150 |
| 4.865% due 04/15/2069 •  | 1154 | 1148 |
| **Navient Refinance Loan Trust** <br>4.800% due 10/15/2055 | 6011 | 6030 |
| **Navient Student Loan Trust**  |  |  |
| 4.789% due 07/26/2066 •  | 1805 | 1797 |
| 6.480% due 03/15/2072  | 791 | 819 |
| **Nelnet Student Loan Trust**  |  |  |
| 5.268% due 06/22/2065 •  | 5352 | 5397 |
| 5.334% due 05/17/2055 •  | 5146 | 5188 |
| **Neuberger Berman Loan Advisers CLO 43 Ltd.** <br>4.932% due 07/17/2036 •  | 2800 | 2799 |
| **Neuberger Berman Loan Advisers CLO 45 Ltd.** <br>4.972% due 10/14/2036 •  | 2800 | 2799 |
| **Northwoods Capital 25 Ltd.** <br>5.004% due 07/20/2034 •  | 2000 | 1997 |
| **Octagon Investment Partners 40 Ltd.** <br>4.924% due 01/20/2035 •  | 6700 | 6698 |
| **OFSI BSL X Ltd.** <br>5.154% due 04/20/2034 •  | 3500 | 3505 |
| **OZLM XXIV Ltd.** <br>5.306% due 07/20/2032 •  | 1699 | 1701 |
| **Parallel Ltd.** <br>5.015% due 07/15/2034 •  | 4200 | 4192 |
| **PK ALIFT Loan Funding 7 LP** <br>4.750% due 03/15/2043 | 2637 | 2647 |
| **Riserva CLO Ltd.** <br>4.934% due 01/18/2034 •  | 1800 | 1800 |
| **Romark CLO Ltd.** <br>5.151% due 10/23/2030 •  | 113 | 113 |

---

------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Saranac CLO VI Ltd.** <br>5.125% due 08/13/2031 •  | 209 | 209 |
| **SLM Private Education Loan Trust** <br>8.615% due 10/15/2041 •  | 2237 | 2354 |
| **SMB Private Education Loan Trust**  |  |  |
| 4.595% due 01/15/2053 •  | 2175 | 2156 |
| 4.696% due 09/15/2054 •  | 381 | 380 |
| 5.020% due 03/17/2053  | 2186 | 2206 |
| 5.130% due 04/15/2054  | 2793 | 2838 |
| **TCW CLO AMR Ltd.** <br>5.151% due 08/16/2034 •  | 2600 | 2602 |
| **Tesla Sustainable Energy Trust** <br>5.080% due 06/21/2050 | 396 | 398 |
| **THL Credit Wind River CLO Ltd.** <br>5.105% due 04/15/2035 •  | 4700 | 4704 |
| **Trinitas CLO VI Ltd.** <br>4.968% due 01/25/2034 •  | 2600 | 2601 |
| **Venture XXVII CLO Ltd.** <br>5.196% due 07/20/2030 •  | 90 | 90 |
| **Verdelite Static CLO Ltd.** <br>5.014% due 07/20/2032 •  | 4310 | 4311 |
| **Verizon Master Trust** <br>4.350% due 08/20/2032 | 7500 | 7575 |
| **Voya CLO Ltd.** <br>4.944% due 04/20/2034 •  | 3300 | 3300 |
| **Wind River CLO Ltd.** <br>4.965% due 10/15/2034 •  | 5172 | 5160 |
|  |  | 197418 |
| Total Asset-Backed Securities (Cost $382,269) |  | 386103 |
| **SOVEREIGN ISSUES 0.1%**  |  |  |
| **Mexico Government International Bonds** <br>6.000% due 05/13/2030 | 1900 | 1994 |
| Total Sovereign Issues (Cost $1,891) |  | 1994 |
| **SHORT-TERM INSTRUMENTS 31.4%**  |  |  |
| **REPURCHASE AGREEMENTS (c) 31.4%** |  | 1161200 |
| Total Short-Term Instruments (Cost $1,161,200) |  | 1161200 |
| Total Investments in Securities (Cost $4,737,776) |  | 4764179 |
| Total Investments 129.0% (Cost $4,737,776) |  | $4764179 |
| **Financial Derivative Instruments (d) (0.0)**%(Cost or Premiums, net $911) |  | (276) |
| Other Assets and Liabilities, net (29.0)% |  | (1071144) |
| Net Assets 100.0% |  | $3692759 |

---

------

<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 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:**  | **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.** | **\* 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.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **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.** | **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.** | **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.** |
| **(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.** | **Zero coupon security.** | **Zero coupon security.** |
| **(b)** | **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.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** |
| **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** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **(c)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Lending<br>Rate | Maturity<br>Date | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | BOS | 3.790%  | 01/05/2026 | 534400 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2031 | (545129) | (545129) | 534400 | $534400 |
|  |  | 3.870  | 01/02/2026 | 533600 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% - 4.125% due 03/31/2029 - 04/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% - 4.125% due 03/31/2029 - 04/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% - 4.125% due 03/31/2029 - 04/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% - 4.125% due 03/31/2029 - 04/30/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% - 4.125% due 03/31/2029 - 04/30/2030 | (543675) | (543675) | 533600 | 533715 |
| SAL | SAL | 3.870  | 01/02/2026 | 93200 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 10/29/2026 | (95133) | (95133) | 93200 | 93220 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  |  | **(1183937)** | **(1183937)** | **1161200** | $**1161335** |
| **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Description | Description | Description | Maturity<br>Date | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | Proceeds | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% | U.S. Government Agencies (0.2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | 01/01/2056 | 01/01/2056 | $9560 | 9560 | $ | (8620) | $(8592) |
| **Total Short Sales (0.2)%** | **Total Short Sales (0.2)%** | **Total Short Sales (0.2)%** | **Total Short Sales (0.2)%** | **Total Short Sales (0.2)%** | **Total Short Sales (0.2)%** | **Total Short Sales (0.2)%** |  |  |  |  | **$** | **(8620)** | $**(8592)** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |
| **(d)** | **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** | **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:** | **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** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Description | Description | # 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 | Liability |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 2323 | 2323 | $485017 | 485017 | $(35) | (35) | (35) | 0 | 0 | (163) |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 4608 | 4608 | 503676 | 503676 | (482) | (482) | (482) | 0 | 0 | (540) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 1963 | 1963 | 220715 | 220715 | (419) | (419) | (419) | 0 | 0 | (399) |
|  |  |  |  |  |  |  |  | (936) | (936) | $ | 0 | $ | (1102) |
| **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> |
| Description | Description | Description | Description | # 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 | Liability |
| U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | 129 | 129 | $(14912) | (14912) | $102 | 102 | 102 | 28 | 28 | 0 |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 315 | 315 | (37170) | (37170) | 630 | 630 | 630 | 118 | 118 | 0 |
|  |  |  |  |  |  |  |  | 732 | 732 | $ | 146 | $ | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **(204)** | **(204)** | **$** | **146** | **$** | **(1102)** |

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<br> Schedule of Investments PIMCO Moderate Duration Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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:** |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Fixed Rate | 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 |
| 3.800% | 09/05/2028 | $195000 | 195000 | $(2270) | (2270) | $117 | 117 | $(2153) | (2153) | 160 | 160 | $0 |
| 3.300 | 02/28/2029 | 15400 | 15400 | (35) | (35) | 191 | 191 | 156 | 156 | 17 | 17 | 0 |
| 3.620 | 02/14/2030 | 72600 | 72600 | 748 | 748 | (901) | (901) | (153) | (153) | 100 | 100 | 0 |
| 3.750 | 05/15/2032 | 140170 | 140170 | (140) | (140) | (1258) | (1258) | (1398) | (1398) | 252 | 252 | 0 |
| 4.012 | 02/14/2035 | 39400 | 39400 | (383) | (383) | (344) | (344) | (727) | (727) | 89 | 89 | 0 |
| 3.000 | 02/12/2055 | 20900 | 20900 | 2991 | 2991 | 1396 | 1396 | 4387 | 4387 | 62 | 62 | 0 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **911** | **$** | **(799)** | **$** | **112** | **$** | **680** | **$** | **0** |
| **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $22,522 and cash of $8,070 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 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** | **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |  |
| **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** |  |
| 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 |  |
| Banking & Finance | Banking & Finance | Banking & Finance | 0 | 0 | $ | 464337 | $ | 0 | $ | $464337 | 464337 |  |
| Industrials | Industrials | Industrials | 0 | 0 |  | 191665 |  | 0 |  | 191665 | 191665 |  |
| Utilities | Utilities | Utilities | 0 | 0 |  | 155883 |  | 0 |  | 155883 | 155883 |  |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |  |
| Alabama | Alabama | Alabama | 0 | 0 |  | 3544 |  | 0 |  | 3544 | 3544 |  |
| California | California | California | 0 | 0 |  | 27363 |  | 0 |  | 27363 | 27363 |  |
| Florida | Florida | Florida | 0 | 0 |  | 6316 |  | 0 |  | 6316 | 6316 |  |
| Kansas | Kansas | Kansas | 0 | 0 |  | 2456 |  | 0 |  | 2456 | 2456 |  |
| Louisiana | Louisiana | Louisiana | 0 | 0 |  | 4405 |  | 0 |  | 4405 | 4405 |  |
| Michigan | Michigan | Michigan | 0 | 0 |  | 1385 |  | 0 |  | 1385 | 1385 |  |
| New York | New York | New York | 0 | 0 |  | 22304 |  | 0 |  | 22304 | 22304 |  |
| Texas | Texas | Texas | 0 | 0 |  | 6946 |  | 0 |  | 6946 | 6946 |  |
| Utah | Utah | Utah | 0 | 0 |  | 1976 |  | 0 |  | 1976 | 1976 |  |
| West Virginia | West Virginia | West Virginia | 0 | 0 |  | 10424 |  | 0 |  | 10424 | 10424 |  |
| Wisconsin | Wisconsin | Wisconsin | 0 | 0 |  | 2034 |  | 0 |  | 2034 | 2034 |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 |  | 1666650 |  | 0 |  | 1666650 | 1666650 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 |  | 430274 |  | 0 |  | 430274 | 430274 |  |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 0 |  | 216920 |  | 0 |  | 216920 | 216920 |  |
| 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 |  |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | 0 | 0 |  | 133036 |  | 0 |  | 133036 | 133036 |  |
| CMBS Other | CMBS Other | CMBS Other | 0 | 0 |  | 33951 |  | 0 |  | 33951 | 33951 |  |
| Credit Card Bullet | Credit Card Bullet | Credit Card Bullet | 0 | 0 |  | 8308 |  | 0 |  | 8308 | 8308 |  |
| Credit Card Other | Credit Card Other | Credit Card Other | 0 | 0 |  | 13390 |  | 0 |  | 13390 | 13390 |  |
| Other ABS | Other ABS | Other ABS | 0 | 0 |  | 197418 |  | 0 |  | 197418 | 197418 |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 |  | 1994 |  | 0 |  | 1994 | 1994 |  |
| 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 |  |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 |  | 1161200 |  | 0 |  | 1161200 | 1161200 |  |
| Total Investments | Total Investments | Total Investments | 0 | 0 | $ | 4764179 | $ | 0 | $ | $4764179 | 4764179 |  |
| **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 | $ | (8592) | $ | 0 | $ | $(8592) | (8592) |  |
| **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**  |  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 0 | 0 | $ | 826 | $ | 0 | $ | $826 | 826 |  |
| **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**  |  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 0 | 0 | $ | (1102) | $ | 0 | $ | $(1102) | (1102) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | 0 | 0 | $ | (276) | $ | 0 | $ | $(276) | (276) |  |
| Totals | Totals | Totals | 0 | 0 | $ | 4755311 | $ | 0 | $ | $4755311 | 4755311 |  |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio December 31, 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)** |
|  | PRINCIPAL<br>AMOUNT<br>(000s) | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 299.6% ¤** |  |  |
| **CORPORATE BONDS & NOTES 1.5%**  |  |  |
| **BANKING & FINANCE 0.0%**  |  |  |
| **Ambac Assurance Corp.** <br>5.100% due 12/31/2099 (d) | $38 | $49 |
| **INDUSTRIALS 1.5%**  |  |  |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 16460 | 17405 |
| **CVS Pass-Through Trust** <br>6.036% due 12/10/2028 | 433 | 438 |
|  |  | 17843 |
| Total Corporate Bonds & Notes (Cost $16,943) |  | 17892 |
| **MUNICIPAL BONDS & NOTES 0.3%**  |  |  |
| **TEXAS 0.3%**  |  |  |
| **Ennis Economic Development Corp. Texas Revenue Bonds, (NPFGC Insured), Series 1999** <br>0.000% due 08/01/2034 (c) | 6860 | 3891 |
| Total Municipal Bonds & Notes (Cost $5,238) |  | 3891 |
| **U.S. GOVERNMENT AGENCIES 270.1%**  |  |  |
| **Federal Agricultural Mortgage Corp.**<br>8.850% due 04/25/2030 ~ | 21 | 21 |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 1.500% due 12/01/2050 - 04/01/2051 | 153 | 119 |
| 2.000% due 04/01/2036 | 6556 | 6079 |
| 2.500% due 01/01/2032 - 03/01/2052 | 7928 | 6930 |
| 3.000% due 02/01/2040 - 04/01/2052 | 62462 | 56207 |
| 3.500% due 09/01/2032 - 02/01/2050 | 1692 | 1638 |
| 4.000% due 06/01/2029 - 12/01/2048 | 6308 | 6141 |
| 4.195% due 07/01/2030 •  | 38 | 37 |
| 4.500% due 03/01/2029 - 06/01/2048 | 5244 | 5271 |
| 4.515% due 03/01/2029 •  | 1 | 1 |
| 5.000% due 05/01/2026 - 06/01/2053 | 4436 | 4541 |
| 5.000% due 10/01/2055 (f) | 2697 | 2691 |
| 5.500% due 11/01/2030 - 05/01/2055 | 11648 | 12065 |
| 5.762% due 01/01/2028 •  | 2 | 2 |
| 5.848% due 12/01/2032 •  | 4 | 4 |
| 5.869% due 09/01/2028 •  | 1 | 1 |
| 6.000% due 07/01/2027 - 04/01/2055 | 5595 | 5790 |
| 6.077% due 12/01/2026 •  | 1 | 1 |
| 6.144% due 07/01/2035 •  | 64 | 66 |
| 6.150% due 12/01/2029 •  | 1 | 1 |
| 6.200% due 11/01/2027 •  | 9 | 9 |
| 6.255% due 12/01/2035 •  | 160 | 167 |
| 6.285% due 03/01/2033 •  | 22 | 23 |
| 6.322% due 11/01/2029 •  | 19 | 19 |
| 6.375% due 10/01/2035 •  | 10 | 10 |
| 6.390% due 05/01/2032 •  | 4 | 4 |
| 6.430% due 08/01/2035 •  | 3 | 3 |
| 6.488% due 05/01/2032 •  | 54 | 55 |
| 6.499% due 03/01/2032 •  | 2 | 2 |
| 6.500% due 04/01/2029 - 08/01/2037 | 238 | 251 |
| 6.503% due 10/01/2036 •  | 23 | 24 |
| 6.532% due 06/01/2028 - 02/01/2031 •  | 4 | 5 |
| 6.536% due 07/01/2030 •  | 1 | 1 |
| 6.643% due 02/01/2027 •  | 6 | 6 |
| 6.647% due 11/01/2034 •  | 8 | 9 |
| 6.750% due 03/01/2033 •  | 8 | 8 |
| 7.000% due 01/01/2026 - 12/01/2032 | 9 | 9 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates**<br>4.660% due 01/25/2031 | 6100 | 6231 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 0.000% due 01/15/2035 •  | 3159 | 2981 |
| 0.000% due 08/15/2056 - 10/15/2058 (b)(c) | 33093 | 21163 |
| 0.355% due 05/15/2041 •  | 3325 | 3205 |
| 1.229% due 05/15/2035 •  | 2547 | 2607 |
| 1.551% due 10/15/2037 ~(a) | 40 | 2 |
| 1.561% due 10/15/2037 ~(a) | 85 | 4 |

---

------

<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 1.709% due 05/15/2037 ~(a) | 246 | 14 |
| 1.741% due 03/15/2037 ~(a) | 98 | 5 |
| 1.770% due 11/15/2036 - 11/15/2038 ~(a) | 544 | 31 |
| 1.859% due 08/15/2041 ~(a) | 85 | 5 |
| 1.862% due 06/15/2038 ~(a) | 221 | 13 |
| 1.921% due 10/15/2041 ~(a) | 175 | 10 |
| 1.964% due 02/15/2038 ~(a) | 171 | 9 |
| 2.000% due 11/25/2050 (a) | 5469 | 736 |
| 2.084% due 08/15/2036 ~(a) | 107 | 8 |
| 2.500% due 12/15/2027 (a) | 354 | 7 |
| 3.000% due 08/15/2032 | 3184 | 3079 |
| 3.000% due 02/15/2033 - 09/15/2048 (a) | 2261 | 203 |
| 3.500% due 08/15/2026 (a) | 45 | 0 |
| 4.000% due 01/15/2046 (a) | 2913 | 505 |
| 4.398% due 06/15/2048 - 12/15/2048 •  | 2492 | 2449 |
| 4.448% due 12/15/2029 •  | 15 | 15 |
| 4.539% due 01/25/2050 •  | 1263 | 1244 |
| 4.548% due 09/15/2026 - 12/15/2031 •  | 5 | 4 |
| 4.673% due 08/15/2040 - 10/15/2040 •  | 3991 | 3926 |
| 4.698% due 08/15/2035 •  | 169 | 169 |
| 4.823% due 12/15/2046 •  | 308 | 304 |
| 5.048% due 04/15/2031 •  | 123 | 125 |
| 5.098% due 06/15/2031 •  | 8 | 8 |
| 5.298% due 07/15/2027 •  | 15 | 16 |
| 6.000% due 11/15/2028 - 09/15/2032 | 65 | 67 |
| 6.250% due 12/15/2028 | 24 | 24 |
| 6.500% due 06/15/2027 - 06/15/2032 | 176 | 184 |
| 7.500% due 01/15/2030 | 11 | 12 |
| **Federal Home Loan Mortgage Corp. STRIPS**  |  |  |
| 2.500% due 10/15/2052 (a) | 37927 | 5861 |
| 2.883% due 12/15/2043 •  | 1073 | 988 |
| 3.500% due 01/15/2043 - 08/15/2045 (a) | 9830 | 1552 |
| 4.648% due 03/15/2044 •  | 772 | 770 |
| 4.673% due 10/15/2037 •  | 427 | 422 |
| **Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates**  |  |  |
| 4.229% due 07/25/2031 •  | 17 | 17 |
| 4.239% due 05/25/2031 •  | 56 | 56 |
| 4.269% due 09/25/2031 •  | 17 | 17 |
| 4.576% due 08/15/2032 ~ | 5 | 4 |
| 6.500% due 10/25/2043 | 109 | 112 |
| **Federal National Mortgage Association**  |  |  |
| 1.500% due 06/01/2051 | 117 | 91 |
| 2.000% due 11/01/2026 - 03/01/2033 | 1078 | 1021 |
| 2.500% due 01/01/2033 - 04/01/2052 | 27284 | 23448 |
| 3.000% due 10/01/2026 - 05/01/2058 | 140283 | 125703 |
| 3.500% due 02/01/2026 - 01/01/2059 | 86179 | 81386 |
| 3.575% due 02/01/2026 | 9000 | 8975 |
| 4.000% due 04/01/2026 - 06/01/2049 | 54118 | 52973 |
| 4.171% due 10/01/2031 •  | 11 | 10 |
| 4.227% due 11/01/2028 •  | 7 | 7 |
| 4.374% due 02/01/2028 ~ | 5990 | 6007 |
| 4.388% due 08/01/2028 •  | 5 | 5 |
| 4.407% due 05/01/2036 •  | 1 | 1 |
| 4.434% due 05/01/2036 •  | 24 | 24 |
| 4.440% due 06/01/2033 | 644 | 644 |
| 4.460% due 02/01/2028 •  | 2 | 2 |
| 4.463% due 11/01/2028 •  | 3 | 3 |
| 4.473% due 03/01/2035 •  | 23 | 23 |
| 4.490% due 04/01/2033 | 2000 | 2003 |
| 4.500% due 03/01/2029 - 04/01/2059 | 26436 | 26377 |
| 4.507% due 05/01/2036 •  | 1 | 1 |
| 4.550% due 05/01/2028 | 200 | 203 |
| 4.580% due 08/01/2033 | 1000 | 1013 |
| 4.610% due 05/01/2036 •  | 1 | 1 |
| 4.630% due 07/01/2033 | 3446 | 3460 |
| 4.700% due 04/01/2033 | 3552 | 3598 |
| 4.860% due 07/01/2033 | 2500 | 2561 |
| 4.900% due 10/01/2028 | 708 | 725 |
| 4.990% due 03/01/2031 | 1471 | 1511 |
| 5.000% due 03/01/2026 - 06/01/2053 | 6144 | 6221 |
| 5.031% due 02/01/2031 •  | 10 | 10 |
| 5.277% due 08/01/2042 - 10/01/2044 •  | 440 | 442 |
| 5.300% due 09/01/2038 | 998 | 1052 |
| 5.477% due 10/01/2030 - 09/01/2040 •  | 24 | 25 |
| 5.496% due 02/01/2031 •  | 8 | 8 |
| 5.500% due 11/01/2028 - 05/01/2055 | 9487 | 9732 |
| 5.570% due 10/01/2028 | 859 | 868 |
| 5.591% due 09/01/2034 •  | 1 | 1 |
| 5.610% due 10/01/2028 | 883 | 893 |
| 5.730% due 10/01/2028 | 1122 | 1173 |
| 5.750% due 12/01/2030 •  | 11 | 11 |
| 5.765% due 11/01/2035 •  | 52 | 53 |
| 5.829% due 05/01/2030 •  | 5 | 5 |
| 5.927% due 11/01/2035 •  | 3 | 3 |
| 6.000% due 09/01/2028 - 05/01/2041 | 5952 | 6239 |
| 6.038% due 02/01/2030 •  | 11 | 11 |

---

------

<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.048% due 03/01/2035 •  | 11 | 11 |
| 6.050% due 11/01/2035 •  | 201 | 204 |
| 6.105% due 11/01/2048 •  | 409 | 426 |
| 6.106% due 12/01/2031 •  | 1 | 1 |
| 6.125% due 08/01/2029 •  | 3 | 3 |
| 6.151% due 09/01/2035 •  | 34 | 35 |
| 6.152% due 07/01/2032 •  | 10 | 10 |
| 6.155% due 11/01/2035 •  | 4 | 4 |
| 6.159% due 09/01/2031 •  | 2 | 2 |
| 6.162% due 06/01/2032 •  | 12 | 12 |
| 6.187% due 01/01/2035 •  | 5 | 5 |
| 6.216% due 07/01/2035 •  | 8 | 9 |
| 6.218% due 12/01/2048 •  | 581 | 606 |
| 6.233% due 05/01/2035 •  | 4 | 5 |
| 6.260% due 06/01/2035 •  | 52 | 54 |
| 6.276% due 06/01/2035 •  | 14 | 14 |
| 6.290% due 07/01/2034 - 09/01/2035 •  | 50 | 51 |
| 6.305% due 07/01/2035 •  | 5 | 5 |
| 6.320% due 02/01/2027 •  | 1 | 1 |
| 6.375% due 08/01/2035 •  | 20 | 21 |
| 6.393% due 02/01/2034 •  | 5 | 5 |
| 6.395% due 06/01/2029 - 04/01/2032 •  | 12 | 12 |
| 6.422% due 09/01/2035 •  | 27 | 28 |
| 6.430% due 01/01/2049 •  | 1083 | 1129 |
| 6.460% due 05/01/2035 •  | 21 | 22 |
| 6.500% due 02/01/2026 - 04/01/2043 | 2782 | 2927 |
| 6.560% due 09/01/2034 •  | 22 | 22 |
| 6.600% due 01/01/2030 •  | 22 | 23 |
| 6.675% due 02/01/2035 •  | 12 | 12 |
| 6.799% due 05/01/2036 •  | 7 | 7 |
| 6.848% due 12/01/2027 •  | 2 | 2 |
| 6.912% due 02/01/2036 •  | 7 | 7 |
| 7.000% due 09/01/2032 | 3 | 3 |
| 7.500% due 10/01/2028 | 3 | 3 |
| 8.000% due 07/01/2030 - 10/01/2030 | 3 | 3 |
| **Federal National Mortgage Association Grantor Trust**  |  |  |
| 2.794% due 09/26/2033 •  | 1 | 1 |
| 4.066% due 07/25/2032 •  | 17 | 17 |
| 7.500% due 07/25/2041 | 38 | 40 |
| **Federal National Mortgage Association Interest STRIPS**  |  |  |
| 3.000% due 11/25/2043 (a) | 1314 | 176 |
| 6.500% due 04/25/2038 (a) | 90 | 20 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 0.000% due 10/25/2045 •  | 891 | 597 |
| 0.200% due 02/25/2043 •(a) | 1512 | 10 |
| 0.343% due 10/25/2042 •  | 413 | 287 |
| 1.430% due 10/25/2046 ~(a) | 157 | 7 |
| 1.497% due 07/25/2044 ~(a) | 286 | 12 |
| 1.500% due 02/25/2036 (a) | 33869 | 1656 |
| 1.542% due 04/25/2046 ~(a) | 243 | 12 |
| 1.558% due 07/25/2052 ~(a) | 293 | 15 |
| 1.637% due 04/25/2055 ~(a) | 461 | 23 |
| 1.643% due 07/25/2045 ~(a) | 1303 | 75 |
| 1.683% due 07/25/2044 ~(a) | 408 | 26 |
| 1.740% due 01/25/2045 ~(a) | 240 | 13 |
| 1.747% due 08/25/2054 ~(a) | 551 | 30 |
| 1.770% due 03/25/2045 ~(a) | 630 | 36 |
| 1.937% due 08/25/2055 ~(a) | 283 | 16 |
| 1.949% due 08/25/2044 ~(a) | 242 | 18 |
| 2.011% due 11/25/2049 •(a) | 1860 | 242 |
| 2.161% due 07/25/2042 - 08/25/2042 •(a) | 4393 | 437 |
| 2.500% due 02/25/2051 (a) | 7190 | 1227 |
| 2.583% due 06/25/2042 •  | 379 | 337 |
| 3.000% due 04/25/2043 - 05/25/2048 | 383 | 353 |
| 3.000% due 04/25/2046 - 12/25/2048 (a) | 5716 | 687 |
| 3.500% due 04/25/2046 (a) | 164 | 13 |
| 4.000% due 06/25/2044 (a) | 34 | 2 |
| 4.109% due 07/25/2037 •  | 163 | 160 |
| 4.246% due 12/25/2036 •  | 533 | 524 |
| 4.389% due 06/25/2029 - 04/25/2032 •  | 11 | 11 |
| 4.439% due 06/25/2046 •  | 635 | 627 |
| 4.451% due 04/18/2028 - 12/18/2032 •  | 8 | 7 |
| 4.489% due 06/25/2030 - 11/25/2059 •  | 9869 | 9753 |
| 4.501% due 10/18/2030 •  | 5 | 5 |
| 4.689% due 10/25/2037 •  | 1119 | 1121 |
| 4.889% due 04/25/2032 •  | 1 | 1 |
| 5.000% due 11/25/2028 | 34 | 34 |
| 6.000% due 04/25/2031 | 60 | 62 |
| 6.309% due 05/25/2035 ~ | 26 | 26 |
| 6.500% due 10/25/2028 - 10/25/2031 | 149 | 155 |
| 6.850% due 12/18/2027 | 17 | 17 |
| 7.000% due 11/25/2026 - 12/20/2027 | 5 | 5 |
| 7.500% due 11/20/2026 | 12 | 12 |
| **Federal National Mortgage Association REMICS Trust**  |  |  |
| 4.546% due 02/25/2033 •  | 5 | 5 |
| 6.500% due 06/25/2028 | 6 | 6 |

---

------

<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Federal National Mortgage Association-ACES**  |  |  |
| 2.242% due 01/25/2031 ~(a) | 6589 | 334 |
| 6.300% due 06/25/2031 ~ | 37 | 37 |
| **Government National Mortgage Association**  |  |  |
| 1.086% due 03/16/2051 ~(a) | 591 | 0 |
| 2.000% due 11/20/2051 | 435 | 361 |
| 2.500% due 03/20/2027 - 09/20/2051 | 32992 | 28523 |
| 3.000% due 12/15/2042 - 05/20/2050 | 13323 | 12148 |
| 3.500% due 11/15/2041 - 02/20/2052 | 64903 | 59942 |
| 4.000% due 09/15/2040 - 03/15/2052 | 18771 | 18112 |
| 4.500% due 06/15/2035 - 01/20/2049 | 15905 | 15805 |
| 4.521% due 01/20/2059 •  | 9 | 9 |
| 4.750% due 12/20/2029 - 12/20/2032 •  | 262 | 266 |
| 4.863% due 10/20/2058 •  | 1 | 1 |
| 5.000% due 05/15/2033 - 12/20/2048 | 8850 | 9077 |
| 5.375% (H15T1Y + 1.500%) due 07/20/2026 - 09/20/2026 ~ | 2 | 1 |
| 5.375% due 07/20/2027 - 07/20/2035 •  | 1522 | 1539 |
| 5.500% due 09/15/2031 - 07/15/2041 | 3604 | 3763 |
| 5.625% (H15T1Y + 1.500%) due 01/20/2026 - 06/20/2026 ~ | 6 | 6 |
| 5.625% due 01/20/2027 - 04/20/2033 •  | 946 | 951 |
| 6.000% due 09/15/2036 - 04/20/2055 | 1256 | 1295 |
| 6.125% due 01/20/2034 •  | 812 | 836 |
| 6.500% due 01/15/2028 - 07/15/2039 | 680 | 716 |
| 7.000% due 06/20/2026 - 09/20/2028 | 2 | 2 |
| 7.500% due 06/15/2027 - 10/15/2031 | 12 | 12 |
| 8.000% due 12/15/2028 - 09/15/2031 | 11 | 11 |
| 8.500% due 08/15/2027 - 01/20/2031 | 83 | 84 |
| **Government National Mortgage Association REMICS**  |  |  |
| 0.000% due 03/20/2035 (b)(c) | 87 | 84 |
| 0.030% due 09/20/2045 •  | 1736 | 1164 |
| 0.790% due 11/20/2045 ~(a) | 452 | 20 |
| 0.828% due 09/20/2045 ~(a) | 604 | 27 |
| 0.830% due 12/20/2045 ~(a) | 311 | 15 |
| 0.833% due 06/20/2043 ~(a) | 406 | 22 |
| 0.874% due 08/20/2045 ~(a) | 184 | 8 |
| 1.177% due 06/20/2042 ~(a) | 417 | 23 |
| 1.227% due 06/20/2042 ~(a) | 384 | 17 |
| 3.000% due 06/20/2046 (a) | 131 | 8 |
| 3.000% due 11/20/2067 | 2958 | 2899 |
| 3.500% due 08/20/2042 - 09/20/2046 (a) | 4884 | 530 |
| 5.164% due 07/20/2070 - 08/20/2070 •  | 13906 | 14096 |
| 5.364% due 10/20/2070 •  | 6598 | 6731 |
| 5.418% due 09/20/2071 •  | 24561 | 25208 |
| **Government National Mortgage Association, TBA**  |  |  |
| 2.000% due 01/01/2056 | 99165 | 82152 |
| 2.500% due 01/01/2056 - 02/01/2056 | 94850 | 81817 |
| 3.000% due 01/01/2056 | 253350 | 227688 |
| 3.500% due 01/01/2056 | 17882 | 16276 |
| 4.000% due 01/01/2056 | 38650 | 36517 |
| 4.500% due 01/01/2056 - 02/01/2056 | 42900 | 41764 |
| 5.000% due 01/01/2056 | 54800 | 54683 |
| 5.500% due 02/01/2056 | 33500 | 33804 |
| 6.000% due 01/01/2056 | 33000 | 33633 |
| **U.S. Small Business Administration**  |  |  |
| 5.370% due 04/01/2028 | 210 | 212 |
| 5.490% due 05/01/2028 | 207 | 209 |
| 5.870% due 05/01/2026 - 07/01/2028 | 161 | 163 |
| 6.220% due 12/01/2028 | 35 | 36 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 1.500% due 01/01/2056 | 14400 | 11108 |
| 2.000% due 01/01/2041 | 18600 | 17225 |
| 2.500% due 01/01/2056 | 10930 | 9242 |
| 3.000% due 01/01/2041 - 02/01/2056 | 376780 | 337254 |
| 3.500% due 01/01/2041 | 97900 | 95185 |
| 4.500% due 01/01/2041 - 02/01/2056 | 441218 | 430419 |
| 5.000% due 01/01/2041 - 02/01/2056 | 351404 | 350202 |
| 5.500% due 02/01/2056 | 352300 | 356923 |
| 6.000% due 02/01/2056 - 03/01/2056 | 208800 | 214299 |
| 7.000% due 01/01/2056 | 9000 | 9472 |
| **Vendee Mortgage Trust**  |  |  |
| 6.240% due 01/15/2030 ~ | 44 | 45 |
| 6.500% due 03/15/2029 | 56 | 56 |
| Total U.S. Government Agencies (Cost $3,268,952) |  | 3205565 |
| **U.S. TREASURY OBLIGATIONS 16.4%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 4.125% due 08/15/2044 | 69800 | 64082 |
| 4.750% due 08/15/2055 | 131600 | 129420 |
| 4.875% due 08/15/2045 | 743 | 751 |
| **U.S. Treasury Notes**  |  |  |
| 4.250% due 08/15/2035 | 830 | 836 |

---

------

<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total U.S. Treasury Obligations (Cost $200,500) |  | 195089 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 7.2%**  |  |  |
| **Adjustable Rate Mortgage Trust** <br>5.404% due 09/25/2035 ~ | 117 | 102 |
| **Banc of America Funding Trust**  |  |  |
| 4.428% due 05/20/2035 •  | 178 | 169 |
| 6.253% due 10/25/2036 þ  | 351 | 313 |
| 6.337% due 01/25/2037 þ  | 361 | 338 |
| **Banc of America Mortgage Trust**  |  |  |
| 4.832% due 02/25/2036 ~  | 64 | 58 |
| 5.822% due 07/25/2034 ~  | 1 | 1 |
| **Bank of America Mortgage Trust**  |  |  |
| 6.768% due 06/20/2031 ~  | 16 | 16 |
| **Bear Stearns ALT-A Trust**  |  |  |
| 4.139% due 11/25/2036 ~  | 143 | 60 |
| 4.397% due 11/25/2036 ~  | 277 | 152 |
| 4.474% due 11/25/2036 ~  | 385 | 193 |
| 5.406% due 05/25/2035 ~  | 66 | 64 |
| **Bear Stearns ARM Trust**  |  |  |
| 4.813% due 11/25/2030 ~  | 1 | 1 |
| 6.375% due 08/25/2033 ~  | 68 | 68 |
| 6.375% due 01/25/2034 ~  | 1 | 1 |
| **Bear Stearns Structured Products, Inc. Trust** <br>3.944% due 12/26/2046 ~ | 470 | 374 |
| **Bella Vista Mortgage Trust** <br>4.346% due 05/20/2045 •  | 90 | 57 |
| **Chase Mortgage Finance Trust**  |  |  |
| 4.036% due 09/25/2036 ~  | 13 | 12 |
| 6.000% due 07/25/2037  | 1497 | 638 |
| **Chevy Chase Funding LLC Mortgage-Backed Certificates**  |  |  |
| 4.026% due 05/25/2036 •  | 41 | 40 |
| 4.096% due 08/25/2035 •  | 57 | 55 |
| 4.193% due 01/25/2035 ~  | 111 | 104 |
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 4.306% due 05/25/2035 •  | 330 | 294 |
| 4.340% due 11/25/2037 ~  | 256 | 241 |
| 4.386% due 02/25/2035 •  | 25 | 25 |
| 4.426% due 04/25/2035 •  | 180 | 174 |
| 4.486% due 03/25/2035 •  | 26 | 25 |
| 4.506% due 02/25/2035 •  | 200 | 192 |
| 4.526% due 02/25/2035 •  | 5 | 5 |
| 4.526% due 03/25/2036 •  | 4 | 4 |
| 4.530% due 09/25/2047 ~  | 201 | 181 |
| 4.546% due 02/25/2036 •  | 15 | 6 |
| 4.977% due 09/25/2034 ~  | 105 | 101 |
| 5.875% due 06/19/2031 ~  | 2 | 2 |
| 6.250% due 07/19/2031 ~  | 2 | 2 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 5.395% due 08/25/2035 ~  | 41 | 37 |
| 5.750% due 09/25/2035 •  | 45 | 45 |
| 6.500% due 06/25/2054 ~  | 1428 | 1462 |
| **CitiMortgage Alternative Loan Trust** <br>6.000% due 06/25/2037 | 314 | 289 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 4.226% due 09/25/2046 •  | 1917 | 1827 |
| 4.246% due 05/25/2036 •  | 24 | 21 |
| 4.248% due 07/20/2046 •  | 195 | 171 |
| 4.266% due 05/25/2035 •  | 249 | 243 |
| 4.286% due 05/25/2035 •  | 41 | 40 |
| 4.346% due 05/25/2035 •  | 67 | 63 |
| 4.346% due 09/25/2046 •  | 3654 | 3073 |
| 4.346% due 10/25/2046 •  | 264 | 210 |
| 4.366% due 07/25/2046 •  | 1479 | 1097 |
| 4.406% due 12/25/2035 •  | 127 | 121 |
| 4.408% due 09/20/2046 •  | 5455 | 4954 |
| 4.488% due 12/20/2035 •  | 356 | 340 |
| 4.526% due 10/25/2046 •  | 1173 | 896 |
| 6.250% due 11/25/2036  | 523 | 382 |
| **Countrywide Alternative Loan Trust Resecuritization** <br>3.724% due 08/25/2037 ~ | 80 | 35 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>5.642% due 06/25/2033 ~ | 3 | 3 |
| **CSMC Mortgage-Backed Trust** <br>6.079% due 04/25/2037 þ | 1708 | 470 |
| **CSMC Trust**  |  |  |
| 2.500% due 07/25/2056 ~  | 947 | 794 |
| 4.699% due 05/27/2053 ~  | 4282 | 3909 |
| **Deutsche Alt-B Securities, Inc. Mortgage Loan Trust** <br>3.946% due 10/25/2036 •  | 5 | 4 |
| **FNT Mortgage-Backed Pass-Through Trust** <br>6.750% due 08/21/2031 | 3 | 3 |
| **GreenPoint Mortgage Funding Trust**  |  |  |
| 4.246% due 12/25/2046 •  | 1034 | 1037 |
| 4.386% due 04/25/2036 •  | 445 | 405 |

---

------

<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **GreenPoint Mortgage Pass-Through Certificates** <br>7.033% due 10/25/2033 ~ | 4 | 4 |
| **GS Mortgage Securities Corp. Trust** <br>4.948% due 07/15/2031 •  | 2000 | 1554 |
| **GS Mortgage-Backed Securities Trust** <br>3.000% due 09/25/2052 ~ | 13887 | 12178 |
| **GSR Mortgage Loan Trust**  |  |  |
| 4.151% due 04/25/2036 ~  | 101 | 60 |
| 4.366% due 08/25/2046 •  | 2056 | 452 |
| 4.410% due 06/25/2034 ~  | 6 | 5 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 2.303% due 11/19/2034 ~  | 14 | 12 |
| 4.106% due 03/19/2037 •  | 171 | 160 |
| 4.286% due 05/19/2046 •  | 510 | 147 |
| 5.385% due 08/19/2034 ~  | 325 | 304 |
| 5.503% due 08/19/2036 ~  | 18 | 18 |
| **HomeBanc Mortgage Trust** <br>4.706% due 08/25/2029 •  | 43 | 42 |
| **IndyMac INDB Mortgage Loan Trust** <br>4.446% due 11/25/2035 •  | 77 | 45 |
| **IndyMac INDX Mortgage Loan Trust**  |  |  |
| 3.268% due 01/25/2036 ~  | 99 | 90 |
| 3.662% due 08/25/2035 ~  | 360 | 266 |
| 3.874% due 08/25/2036 ~  | 6314 | 5340 |
| 4.146% due 06/25/2037 •  | 285 | 93 |
| 4.266% due 05/25/2046 •  | 404 | 375 |
| 4.326% due 04/25/2035 •  | 38 | 32 |
| 4.326% due 07/25/2035 •  | 308 | 291 |
| 4.373% due 12/25/2034 ~  | 2 | 2 |
| 4.486% due 02/25/2035 •  | 52 | 49 |
| **JP Morgan Mortgage Trust**  |  |  |
| 3.000% due 04/25/2052 ~  | 5077 | 4462 |
| 3.000% due 05/25/2052 ~  | 5879 | 5163 |
| 4.746% due 12/25/2049 •  | 1075 | 1036 |
| 4.796% due 08/25/2049 •  | 534 | 512 |
| 5.391% due 10/25/2035 ~  | 445 | 420 |
| **Lehman XS Trust** <br>4.486% due 11/25/2046 •  | 1568 | 1233 |
| **Luminent Mortgage Trust** <br>4.206% due 12/25/2036 •  | 178 | 175 |
| **MASTR Adjustable Rate Mortgages Trust**  |  |  |
| 4.326% due 05/25/2037 •  | 315 | 127 |
| 4.526% due 05/25/2047 •  | 3039 | 2572 |
| **MASTR Reperforming Loan Trust** <br>7.000% due 08/25/2034 | 59 | 40 |
| **MASTR Seasoned Securitization Trust** <br>4.054% due 10/25/2032 ~ | 27 | 25 |
| **Mellon Residential Funding Corp. Mortgage Pass-Through Certificates**  |  |  |
| 4.565% due 11/15/2031 •  | 41 | 40 |
| 4.745% due 11/15/2031 •  | 5 | 5 |
| **Mellon Residential Funding Corp. Mortgage Pass-Through Trust**  |  |  |
| 4.305% due 12/15/2030 •  | 50 | 49 |
| 4.345% due 06/15/2030 •  | 39 | 38 |
| **Merrill Lynch Alternative Note Asset Trust** <br>4.446% due 03/25/2037 •  | 831 | 194 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 4.905% due 01/25/2029 ~  | 409 | 353 |
| 4.954% due 10/25/2028 •  | 2 | 2 |
| 5.011% due 04/25/2035 ~  | 2 | 2 |
| **Morgan Stanley Mortgage Loan Trust**  |  |  |
| 4.356% due 02/25/2047 •  | 748 | 276 |
| 5.144% due 07/25/2035 ~  | 241 | 194 |
| **Mortgage Equity Conversion Asset Trust** <br>4.020% due 05/25/2042 •  | 1738 | 1613 |
| **New Residential Mortgage Loan Trust** <br>2.750% due 07/25/2059 ~ | 3795 | 3684 |
| **Nomura Asset Acceptance Corp. Alternative Loan Trust** <br>7.000% due 02/19/2030 ~ | 83 | 82 |
| **OBX Trust** <br>3.000% due 01/25/2052 ~ | 2436 | 2132 |
| **Prime Mortgage Trust** <br>4.246% due 02/25/2034 •  | 4 | 4 |
| **RALI Trust**  |  |  |
| 4.099% due 08/25/2035 ~  | 421 | 145 |
| 4.386% due 05/25/2046 •  | 303 | 236 |
| **RFMSI Trust** <br>5.532% due 09/25/2035 ~ | 578 | 360 |
| **Sequoia Mortgage Trust** <br>4.597% due 01/20/2047 ~ | 189 | 129 |
| **Sequoia Mortgage Trust 10** <br>4.608% due 10/20/2027 •  | 3 | 3 |
| **Sequoia Mortgage Trust 5** <br>4.546% due 10/19/2026 •  | 3 | 3 |
| **Sequoia Mortgage Trust 6** <br>4.486% due 04/19/2027 •  | 2 | 2 |

---

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<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Structured Adjustable Rate Mortgage Loan Trust**  |  |  |
| 3.892% due 01/25/2035 ~  | 48 | 48 |
| 4.302% due 11/25/2035 ~  | 130 | 120 |
| 4.473% due 08/25/2035 ~  | 4 | 3 |
| 4.581% due 06/25/2034 •  | 117 | 115 |
| 4.600% due 07/25/2035 ~  | 14 | 12 |
| 5.630% due 10/25/2037 •  | 606 | 558 |
| 5.659% due 07/25/2034 ~  | 8 | 8 |
| **Structured Asset Mortgage Investments II Trust**  |  |  |
| 4.106% due 03/25/2037 •  | 57 | 22 |
| 4.226% due 06/25/2036 •  | 33 | 33 |
| 4.266% due 05/25/2036 •  | 350 | 248 |
| 4.306% due 05/25/2045 •  | 367 | 353 |
| 4.346% due 07/19/2035 •  | 296 | 292 |
| 4.446% due 08/25/2036 •  | 1852 | 1384 |
| 4.506% due 10/19/2034 •  | 23 | 23 |
| 4.546% due 03/19/2034 •  | 120 | 115 |
| **Structured Asset Mortgage Investments Trust** <br>4.506% due 09/19/2032 •  | 82 | 78 |
| **Structured Asset Mortgage Investments, Inc.** <br>6.750% due 05/02/2030 ~ | 49 | 0 |
| **Structured Asset Securities Corp. Mortgage Pass-Through Certificates** <br>6.253% due 06/25/2033 ~ | 1 | 1 |
| **TBW Mortgage-Backed Trust**  |  |  |
| 6.130% due 01/25/2037 þ  | 842 | 192 |
| 6.470% due 09/25/2036 þ  | 9085 | 225 |
| 6.515% due 07/25/2037 þ  | 1303 | 480 |
| **Thornburg Mortgage Securities Trust** <br>5.986% due 06/25/2043 ~ | 60 | 58 |
| **Towd Point Mortgage Trust** <br>2.900% due 10/25/2059 ~ | 4651 | 4492 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 3.670% due 04/25/2037 ~  | 414 | 374 |
| 4.271% due 12/25/2036 ~  | 390 | 359 |
| 4.366% due 11/25/2045 •  | 325 | 308 |
| 4.426% due 10/25/2045 •  | 20 | 20 |
| 4.486% due 01/25/2045 •  | 71 | 69 |
| 4.486% due 07/25/2045 •  | 12 | 12 |
| 4.506% due 01/25/2045 •  | 177 | 178 |
| 4.686% due 12/25/2035 ~  | 73 | 69 |
| 4.846% due 07/25/2044 •  | 34 | 33 |
| 4.869% due 11/25/2046 •  | 99 | 86 |
| 4.896% due 12/25/2045 •  | 679 | 607 |
| 5.029% due 02/25/2046 •  | 398 | 369 |
| 5.229% due 11/25/2042 •  | 12 | 11 |
| 5.243% due 08/25/2033 ~  | 79 | 78 |
| 5.279% due 01/25/2047 •  | 455 | 411 |
| 5.429% due 06/25/2042 •  | 54 | 51 |
| 5.429% due 08/25/2042 •  | 102 | 100 |
| 5.450% due 09/25/2033 ~  | 38 | 37 |
| 6.166% due 03/25/2034 ~  | 2 | 2 |
| **Washington Mutual Mortgage Pass-Through Certificates Trust** <br>6.768% due 07/25/2036 þ | 2101 | 439 |
| **Washington Mutual MSC Mortgage Pass-Through Certificates Trust** <br>6.283% due 11/25/2030 ~ | 5 | 5 |
| **Wells Fargo Mortgage-Backed Securities Trust** <br>6.419% due 07/25/2034 ~ | 5 | 5 |
| Total Non-Agency Mortgage-Backed Securities (Cost $99,290) |  | 85312 |
| **ASSET-BACKED SECURITIES 4.0%**  |  |  |
| **CMBS OTHER 0.3%**  |  |  |
| **MF1 LLC** <br>5.881% due 06/19/2037 •  | 2482 | 2483 |
| **MF1 Ltd.** <br>4.929% due 10/16/2036 •  | 1302 | 1302 |
|  |  | 3785 |
| **HOME EQUITY OTHER 2.1%**  |  |  |
| **ABFC Trust**  |  |  |
| 4.546% due 06/25/2034 •  | 81 | 81 |
| 4.866% due 03/25/2032 •  | 89 | 91 |
| **ABFS Mortgage Loan Trust** <br>6.785% due 07/15/2033 þ | 455 | 363 |
| **ACE Securities Corp. Home Equity Loan Trust**  |  |  |
| 3.966% due 10/25/2036 •  | 118 | 46 |
| 4.506% due 11/25/2035 •  | 62 | 70 |
| 4.896% due 07/25/2034 •  | 58 | 57 |
| **AFC Home Equity Loan Trust** <br>4.656% due 06/25/2029 •  | 112 | 84 |
| **Amortizing Residential Collateral Trust** <br>4.546% due 10/25/2031 •  | 46 | 45 |

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<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **AMRESCO Residential Securities Corp. Mortgage Loan Trust** <br>4.786% due 06/25/2029 •  | 135 | 142 |
| **Argent Securities, Inc. Asset-Backed Pass-Through Certificates** <br>4.581% due 10/25/2035 •  | 333 | 332 |
| **Asset-Backed Securities Corp. Home Equity Loan Trust**  |  |  |
| 3.926% due 05/25/2037 •  | 1 | 1 |
| 4.385% due 06/15/2031 •  | 183 | 180 |
| **Bayview Financial Acquisition Trust** <br>4.367% due 05/28/2037 •  | 550 | 528 |
| **Bear Stearns Asset-Backed Securities Trust**  |  |  |
| 4.821% due 02/25/2034 •  | 254 | 261 |
| 5.346% due 11/25/2042 •  | 79 | 81 |
| 6.132% due 06/25/2043 ~  | 7 | 7 |
| **C-BASS Trust** <br>2.991% due 01/25/2037 •  | 239 | 71 |
| **Centex Home Equity Loan Trust**  |  |  |
| 4.146% due 01/25/2032 •  | 29 | 29 |
| 4.696% due 01/25/2032 •  | 160 | 176 |
| **Chase Funding Trust**  |  |  |
| 4.446% due 07/25/2033 •  | 13 | 13 |
| 4.486% due 08/25/2032 •  | 291 | 290 |
| **Citigroup Global Markets Mortgage Securities VII, Inc.** <br>5.196% due 01/25/2032 •  | 22 | 22 |
| **Citigroup Mortgage Loan Trust, Inc.** <br>3.906% due 07/25/2045 •  | 121 | 86 |
| **Countrywide Asset-Backed Certificates** <br>4.846% due 09/25/2032 •  | 654 | 674 |
| **Countrywide Asset-Backed Certificates Trust**  |  |  |
| 4.126% due 07/25/2037 •  | 640 | 594 |
| 4.246% due 09/25/2037 •  | 345 | 323 |
| 4.746% due 10/25/2047 •  | 646 | 596 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>3.850% due 08/25/2032 •  | 65 | 63 |
| **Delta Funding Home Equity Loan Trust** <br>4.685% due 09/15/2029 •  | 6 | 6 |
| **Ellington Loan Acquisition Trust**  |  |  |
| 4.896% due 05/25/2037 •  | 675 | 670 |
| 4.946% due 05/25/2037 •  | 261 | 257 |
| **EMC Mortgage Loan Trust** <br>4.586% due 05/25/2040 •  | 86 | 85 |
| **Encore Credit Receivables Trust** <br>4.536% due 07/25/2035 •  | 1562 | 1539 |
| **EquiFirst Mortgage Loan Trust** <br>4.326% due 01/25/2034 •  | 49 | 48 |
| **Fremont Home Loan Trust** <br>4.326% due 08/25/2036 •  | 5715 | 1776 |
| **GE-WMC Mortgage Securities Trust** <br>3.926% due 08/25/2036 •  | 32 | 13 |
| **GMACM Home Equity Loan Trust** <br>4.326% due 01/25/2029 •  | 4 | 3 |
| **GSAMP Trust**  |  |  |
| 2.357% due 10/25/2036 •  | 7470 | 34 |
| 3.986% due 12/25/2036 •  | 828 | 446 |
| **Home Equity Mortgage Loan Asset-Backed Trust** <br>4.066% due 04/25/2037 •  | 524 | 413 |
| **JP Morgan Mortgage Acquisition Trust** <br>4.006% due 08/25/2036 •  | 33 | 15 |
| **Long Beach Mortgage Loan Trust**  |  |  |
| 4.406% due 10/25/2034 •  | 52 | 51 |
| 4.896% due 10/25/2034 •  | 24 | 22 |
| 5.271% due 03/25/2032 •  | 13 | 21 |
| **MASTR Asset-Backed Securities Trust** <br>4.596% due 12/25/2034 •  | 355 | 365 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 3.966% due 10/25/2037 •  | 943 | 138 |
| 4.006% due 09/25/2037 •  | 121 | 24 |
| **Morgan Stanley Mortgage Loan Trust**  |  |  |
| 5.750% due 04/25/2037 ~  | 440 | 211 |
| 6.000% due 02/25/2037 ~  | 612 | 344 |
| **NovaStar Mortgage Funding Trust** <br>4.106% due 03/25/2037 •  | 1312 | 864 |
| **Option One Mortgage Loan Trust**  |  |  |
| 4.126% due 01/25/2037 •  | 436 | 257 |
| 4.626% due 02/25/2035 •  | 999 | 963 |
| **Option One Mortgage Loan Trust Asset-Backed Certificates** <br>4.536% due 11/25/2035 •  | 148 | 145 |
| **RCKT Mortgage Trust** <br>6.025% due 02/25/2044 ~ | 374 | 377 |
| **Renaissance Home Equity Loan Trust**  |  |  |
| 3.383% due 08/25/2033 •  | 137 | 127 |
| 4.566% due 11/25/2034 •  | 109 | 97 |
| 4.606% due 12/25/2032 •  | 14 | 13 |
| 5.046% due 08/25/2032 •  | 188 | 180 |
| **Residential Asset Mortgage Products Trust** <br>4.791% due 09/25/2035 •  | 1286 | 1273 |

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<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Residential Asset Securities Corporation Trust** <br>4.426% due 06/25/2033 •  | 33 | 32 |
| **SACO I Trust** <br>4.366% due 06/25/2036 •  | 15 | 15 |
| **Securitized Asset-Backed Receivables LLC Trust** <br>3.966% due 12/25/2036 •  | 1984 | 416 |
| **Soundview Home Loan Trust** <br>3.966% due 11/25/2036 •  | 57 | 15 |
| **Structured Asset Investment Loan Trust**  |  |  |
| 4.776% due 06/25/2035 •  | 6797 | 6629 |
| 5.121% due 12/25/2034 •  | 976 | 960 |
| **Structured Asset Securities Corp. Trust** <br>4.536% due 09/25/2035 •  | 311 | 301 |
|  |  | 24451 |
| **HOME EQUITY SEQUENTIAL 0.0%**  |  |  |
| **JP Morgan Mortgage Acquisition Trust** <br>4.106% due 03/25/2037 •  | 56 | 55 |
| **Morgan Stanley Mortgage Loan Trust** <br>4.566% due 04/25/2037 •  | 195 | 52 |
|  |  | 107 |
| **MANUFACTURING HOUSE ABS OTHER 0.0%**  |  |  |
| **UCFC Manufactured Housing Contract** <br>7.900% due 01/15/2028 ~ | 16 | 16 |
| **WHOLE LOAN COLLATERAL 0.0%**  |  |  |
| **Bear Stearns Asset-Backed Securities Trust** <br>4.646% due 09/25/2046 •  | 398 | 388 |
| **GSAMP Trust** <br>4.646% due 02/25/2033 •  | 10 | 10 |
| **Residential Asset Mortgage Products Trust** <br>4.446% due 03/25/2036 •  | 27 | 27 |
|  |  | 425 |
| **OTHER ABS 1.6%**  |  |  |
| **Atlas Senior Loan Fund XII Ltd.** <br>5.307% due 10/24/2031 •  | 200 | 200 |
| **CIFC Funding Ltd.**  |  |  |
| 5.077% due 10/24/2030 •  | 1074 | 1075 |
| 5.292% due 07/17/2037 •  | 5000 | 5018 |
| **Dryden 41 Senior Loan Fund** <br>5.136% due 04/15/2031 •  | 438 | 438 |
| **Dryden 64 CLO Ltd.** <br>5.116% due 04/18/2031 •  | 1252 | 1253 |
| **Gallatin CLO VIII Ltd.** <br>5.256% due 07/15/2031 •  | 2304 | 2305 |
| **KKR CLO 21 Ltd.** <br>5.166% due 04/15/2031 •  | 221 | 221 |
| **LCM 30 Ltd.** <br>5.226% due 04/20/2031 •  | 1865 | 1866 |
| **Magnetite XXV Ltd.** <br>5.320% due 01/25/2032 •  | 424 | 425 |
| **Mountain View CLO IX Ltd.** <br>5.286% due 07/15/2031 •  | 121 | 121 |
| **Newark BSL CLO 2 Ltd.** <br>5.090% due 07/25/2030 •  | 1256 | 1256 |
| **Romark CLO Ltd.** <br>5.151% due 10/23/2030 •  | 949 | 950 |
| **SLM Student Loan Trust** <br>5.594% due 12/15/2033 •  | 974 | 965 |
| **Symphony CLO 36 Ltd.** <br>5.305% due 01/16/2031 •  | 11 | 11 |
| **Venture 36 CLO Ltd.** <br>5.276% due 04/20/2032 •  | 2226 | 2228 |
|  |  | 18332 |
| Total Asset-Backed Securities (Cost $59,239) |  | 47116 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.1%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.850% (e) | 523779 | 524 |

---

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<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Short-Term Instruments (Cost $524) |  | 524 |
| Total Investments in Securities (Cost $3,650,686) |  | 3555389 |
| **INVESTMENTS IN AFFILIATES 4.0%**  |  |  |
| **SHORT-TERM INSTRUMENTS 4.0%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.0%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 4884750 | 47582 |
| Total Short-Term Instruments (Cost $47,575) |  | 47582 |
| Total Investments in Affiliates (Cost $47,575) |  | 47582 |
| Total Investments 303.6% (Cost $3,698,261) |  | $3602971 |
| **Financial Derivative Instruments (g)(h) 0.0**%(Cost or Premiums, net $1,934) |  | 314 |
| Other Assets and Liabilities, net (203.6)% |  | (2416371) |
| Net Assets 100.0% |  | $1186914 |

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<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 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.** |
| **«** | **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).** | **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.** | **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.** | **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.** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** |
| **(a)** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** |
| **(b)** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** | **Principal only security.** |
| **(c)** | **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.** |
| **(d)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **(e)** | **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.** |
| **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** | **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:** | **REVERSE REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Settlement Date | Settlement Date | Maturity Date | Maturity Date | Maturity Date | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> |  | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| IND | IND | 12/11/2025 | 12/11/2025 | 01/07/2026 | 01/07/2026 | 01/07/2026 | (2596) | (2596) | (2596) | $ | (2603) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  | **$** | **(2603)** |
| **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Coupon | Maturity<br>Date | Maturity<br>Date | Principal<br>Amount |  | Proceeds | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% | U.S. Government Agencies (77.1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 2.000% | 01/01/2056 | 01/01/2056 | 121300 | $ | $(98594) | (98594) | $(98082) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 2.000 | 02/01/2056 | 02/01/2056 | 125000 |  | (101094) | (101094) | (101049) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 3.500 | 02/01/2056 | 02/01/2056 | 264600 |  | (243804) | (243804) | (243814) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 4.000 | 02/01/2056 | 02/01/2056 | 169660 |  | (161031) | (161031) | (160844) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 6.500 | 02/01/2056 | 02/01/2056 | 299700 |  | (311018) | (311018) | (311542) |
| **Total Short Sales (77.1)%** | **Total Short Sales (77.1)%** | **Total Short Sales (77.1)%** | **Total Short Sales (77.1)%** |  |  |  |  | **$** | $**(915541)** | **(915541)** | $**(915331)** |
| **(f)** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $2,691 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | The average amount of borrowings outstanding during the period ended December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. 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 December 31, 2025 was $(21822) at a weighted average interest rate of 4.411%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| **(g)** | **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** | **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:** | **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** | **LONG FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| U.S. Treasury 5-Year Note March Futures  | 03/2026 | 11420 | $1248260 | 1248260 | 1248260 | $(1222) | (1222) | $0 | 0 | 0 | (1338) |
| **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 | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| U.S. Treasury 10-Year Note March Futures  | 03/2026 | 760 | $(85453) | (85453) | (85453) | $174 | 174 | $155 | 155 | 155 | 0 |
| U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 5169 | (594516) | (594516) | (594516) | 3880 | 3880 | 969 | 969 | 969 | 0 |
|  |  |  |  |  |  | 4054 | $ | 1124 | 1124 | $ | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **2832** | **$** | **1124** | **1124** | **$** | **(1338)** |

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<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.500% | Annual | 06/21/2026 | 23500 | (21) | 130 | 109 | 1 | $0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.560 | Annual | 04/10/2030 | 30900 | 154 | (140) | 14 | 0 | (44) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.560 | Annual | 05/08/2030 | 22910 | 175 | (151) | 24 | 0 | (33) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 06/21/2030 | 39200 | 547 | 408 | 955 | 60 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 4.118 | Annual | 10/10/2030 | 33900 | (193) | 1201 | 1008 | 0 | (53) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 4.135 | Annual | 10/10/2030 | 32200 | (134) | 1118 | 984 | 0 | (50) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 4.145 | Annual | 10/10/2030 | 13400 | (54) | 470 | 416 | 0 | (21) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 4.155 | Annual | 10/10/2030 | 41400 | (208) | 1511 | 1303 | 0 | (65) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 4.185 | Annual | 10/10/2030 | 66000 | 323 | (2493) | (2170) | 103 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 4.012 | Annual | 11/08/2030 | 37700 | (266) | 1216 | 950 | 0 | (60) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 4.180 | Annual | 11/08/2030 | 43000 | (288) | 1705 | 1417 | 0 | (68) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 4.192 | Annual | 11/08/2030 | 12500 | (83) | 502 | 419 | 0 | (20) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.550 | Annual | 12/22/2030 | 20500 | 829 | (913) | (84) | 33 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.705 | Annual | 01/10/2031 | 47300 | 210 | 28 | 238 | 0 | (78) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.710 | Annual | 03/12/2031 | 6900 | 145 | (189) | (44) | 12 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.013 | Annual | 04/09/2031 | 14000 | 301 | 146 | 447 | 24 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.170 | Annual | 04/15/2031 | 13800 | 289 | 29 | 318 | 23 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.232 | Annual | 04/26/2031 | 10500 | 232 | (29) | 203 | 18 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2031 | 60000 | (459) | (132) | (591) | 104 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.480 | Annual | 02/07/2032 | 23000 | 267 | (20) | 247 | 41 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1.840 | Annual | 07/15/2032 | 26700 | 0 | 2988 | 2988 | 48 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 2.998 | Annual | 09/16/2032 | 11000 | 99 | 318 | 417 | 20 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.275 | Annual | 10/06/2032 | 16400 | 0 | 333 | 333 | 30 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.368 | Annual | 11/28/2032 | 5300 | 40 | 35 | 75 | 10 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.453 | Annual | 03/08/2033 | 14600 | 54 | 195 | 249 | 28 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.260 | Annual | 06/08/2033 | 8800 | 94 | 167 | 261 | 17 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 06/21/2033 | 5 | 0 | 0 | 0 | 0 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2034 | 33500 | (125) | 104 | (21) | 75 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2035 | 26800 | 1129 | 128 | 1257 | 64 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2035 | 73100 | (1251) | 1478 | 227 | 169 | 0 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **$** | **$** | **$** | **$** | **(492)** |
| **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $20,465 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| **(h)** | **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** |

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------

<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Pay/Receive<br>Floating Rate | Pay/Receive<br>Floating Rate | Expiration<br>Date | Expiration<br>Date |  | Notional<br>Amount<sup>(1)</sup> |  | Cost | Market<br>Value | Market<br>Value |
| Receive | Receive | 10/25/2027 | 10/25/2027 |  | 90700 | $ | 131 | 140 | 140 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **$** | **131** | **140** | **140** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> |
| Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(3)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| Monthly | Monthly | 11/25/2034 | 3 | 3 | (3) | (3) | $3 | 0 | $0 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **(3)** | **$** | **3** | **$** | **0** |
| Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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. |
| The maximum potential amount the Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 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. |
| **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |  |
| Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 |  |
| **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** |  |
| 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 |  |
| Banking & Finance | $0 | 0 | $49 | 49 | $0 | 0 | 0 | 49 |  |
| Industrials | 0 | 0 | 17843 | 17843 | 0 | 0 | 0 | 17843 |  |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |  |
| Texas | 0 | 0 | 3891 | 3891 | 0 | 0 | 0 | 3891 |  |
| U.S. Government Agencies | 0 | 0 | 3205544 | 3205544 | 21 | 21 | 21 | 3205565 |  |
| U.S. Treasury Obligations | 0 | 0 | 195089 | 195089 | 0 | 0 | 0 | 195089 |  |
| Non-Agency Mortgage-Backed Securities | 0 | 0 | 85312 | 85312 | 0 | 0 | 0 | 85312 |  |
| 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 |  |
| CMBS Other | 0 | 0 | 3785 | 3785 | 0 | 0 | 0 | 3785 |  |
| Home Equity Other | 0 | 0 | 24451 | 24451 | 0 | 0 | 0 | 24451 |  |
| Home Equity Sequential | 0 | 0 | 107 | 107 | 0 | 0 | 0 | 107 |  |
| Manufacturing House ABS Other | 0 | 0 | 16 | 16 | 0 | 0 | 0 | 16 |  |
| Whole Loan Collateral | 0 | 0 | 425 | 425 | 0 | 0 | 0 | 425 |  |
| Other ABS | 0 | 0 | 18332 | 18332 | 0 | 0 | 0 | 18332 |  |
| 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 | 0 | 0 | 524 | 524 | 0 | 0 | 0 | 524 |  |
|  | $0 | 0 | $3555368 | 3555368 | $21 | 21 | 21 | 3555389 |  |
| **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** |  |
| 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 | $47582 | 47582 | $0 | 0 | $0 | 0 | 0 | 47582 |  |
| Total Investments | $47582 | 47582 | $3555368 | 3555368 | $21 | 21 | 21 | 3602971 |  |
| **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  |  |
| U.S. Government Agencies | $0 | 0 | $(915331) | (915331) | $0 | 0 | 0 | (915331) |  |
| **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**  |  |
| Exchange-traded or centrally cleared | 0 | 0 | 2004 | 2004 | 0 | 0 | 0 | 2004 |  |
| Over the counter | 0 | 0 | 140 | 140 | 0 | 0 | 0 | 140 |  |
|  | $0 | 0 | $2144 | 2144 | $0 | 0 | 0 | 2144 |  |
| **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**  |  |
| Exchange-traded or centrally cleared | $0 | 0 | $(1830) | (1830) | $0 | 0 | 0 | (1830) |  |
| Total Financial Derivative Instruments | $0 | 0 | $314 | 314 | $0 | 0 | 0 | 314 |  |

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<br> Schedule of Investments PIMCO Mortgage and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Totals | $47582 | $2640351 | $21 | $2687954 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

---

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<br> Schedule of Investments PIMCO Municipal Portfolio December 31, 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 95.4% ¤** |  |  |
| **MUNICIPAL BONDS & NOTES 94.8%**  |  |  |
| **ARIZONA 2.0%**  |  |  |
| **Salt River Project Agricultural Improvement & Power District, Arizona Revenue Bonds, Series 2023** <br>5.000% due 01/01/2050 | $2000 | $2075 |
| **ARKANSAS 1.4%**  |  |  |
| **County of Pulaski Hospital, Arkansas Revenue Bonds, Series 2023** <br>4.250% due 03/01/2048 | 1500 | 1441 |
| **CALIFORNIA 8.2%**  |  |  |
| **California Community Choice Financing Authority Revenue Bonds, Series 2023** <br>5.000% due 02/01/2054 | 500 | 532 |
| **California Statewide Communities Development Authority Revenue Bonds, Series 2018** <br>5.000% due 12/01/2053 | 445 | 446 |
| **Inland Empire Tobacco Securitization Corp. California Revenue Bonds, Series 2019** <br>3.678% due 06/01/2038 | 700 | 679 |
| **Irvine Facilities Financing Authority, California Special Tax Bonds, (BAM Insured), Series 2023** <br>4.000% due 09/01/2058 | 1250 | 1146 |
| **Long Beach Bond Finance Authority, California Revenue Bonds, Series 2007** <br>5.500% due 11/15/2027 | 1000 | 1047 |
| **San Diego County, California Regional Airport Authority Revenue Bonds, Series 2023** <br>5.250% due 07/01/2058 | 2300 | 2384 |
| **San Francisco, California City & County Airport Comm-San Francisco International Airport Revenue Bonds, Series 2025** <br>5.500% due 05/01/2055 | 1000 | 1059 |
| **South San Francisco Unified School, California General Obligation Bonds, Series 2023** <br>4.000% due 09/01/2048 | 1000 | 968 |
|  |  | 8261 |
| **COLORADO 6.5%**  |  |  |
| **Board of Governors of Colorado State University System Revenue Bonds, Series 2017** <br>4.000% due 03/01/2045 | 3000 | 2797 |
| **Colorado School of Mines Revenue Bonds, Series 2024** <br>5.000% due 12/01/2054 | 1000 | 1038 |
| **Colorado Springs, Colorado Utilities System Revenue Bonds, Series 2025** <br>5.250% due 11/15/2055 | 1700 | 1819 |
| **Denver, Colorado Airport System City & County Revenue Bonds, Series 2018** <br>4.000% due 12/01/2043 | 1000 | 933 |
|  |  | 6587 |
| **CONNECTICUT 2.7%**  |  |  |
| **Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2017** <br>4.000% due 07/01/2047 | 3000 | 2725 |
| **DISTRICT OF COLUMBIA 0.5%**  |  |  |
| **District of Columbia General Obligation Bonds, Series 2024** <br>5.000% due 08/01/2049 | 500 | 521 |
| **FLORIDA 1.4%**  |  |  |
| **Miami-Dade County, Florida Transit System Revenue Bonds, Series 2018** <br>4.000% due 07/01/2044 | 1500 | 1434 |
| **GEORGIA 1.2%**  |  |  |
| **DeKalb County, Georgia Water & Sewerage Revenue Bonds, Series 2025** <br>5.000% due 10/01/2055 | 200 | 208 |
| **Municipal Electric Authority of Georgia Revenue Bonds, Series 2019** <br>5.000% due 01/01/2059 | 1000 | 991 |
|  |  | 1199 |
| **ILLINOIS 4.0%**  |  |  |
| **Chicago O'Hare International Airport, Illinois Revenue Bonds, Series 2022** <br>5.000% due 01/01/2055 | 1000 | 996 |
| **Illinois State General Obligation Bonds, Series 2024** <br>5.000% due 05/01/2037 | 1000 | 1102 |
| **Illinois State Toll Highway Authority Revenue Bonds, Series 2020** <br>5.000% due 01/01/2045 | 1000 | 1034 |

---

------

<br> Schedule of Investments PIMCO Municipal Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2018** <br>4.000% due 01/01/2048 | 1000 | 890 |
|  |  | 4022 |
| **INDIANA 0.9%**  |  |  |
| **Indiana Finance Authority Revenue Bonds, Series 2019** <br>4.000% due 12/01/2049 | 1000 | 901 |
| **KENTUCKY 1.0%**  |  |  |
| **University of Kentucky Revenue Bonds, Series 2025** <br>5.250% due 04/01/2050 | 1000 | 1050 |
| **LOUISIANA 0.7%**  |  |  |
| **Louisiana Stadium and Exposition District Revenue Bonds, Series 2023** <br>5.000% due 07/01/2040 | 685 | 742 |
| **MARYLAND 1.7%**  |  |  |
| **Maryland Department of Transportation State Revenue Bonds, Series 2021** <br>5.000% due 08/01/2034 | 1600 | 1732 |
| **MASSACHUSETTS 1.3%**  |  |  |
| **Commonwealth of Massachusetts General Obligation Bonds, Series 2025** <br>5.000% due 08/01/2048 | 300 | 317 |
| **Massachusetts Development Finance Agency Revenue Bonds, Series 2018** <br>5.000% due 07/01/2048 | 1000 | 1013 |
|  |  | 1330 |
| **MICHIGAN 1.3%**  |  |  |
| **Great Lakes Water Authority Sewage Disposal System, Michigan Revenue Bonds, Series 2023** <br>5.250% due 07/01/2053 | 1250 | 1312 |
| **MINNESOTA 2.5%**  |  |  |
| **St Cloud, Minnesota Revenue Bonds, Series 2019** <br>5.000% due 05/01/2048 | 2500 | 2531 |
| **NEVADA 2.6%**  |  |  |
| **Las Vegas Convention & Visitors Authority, Nevada Revenue Bonds, Series 2023** <br>5.000% due 07/01/2049 | 1000 | 1031 |
| **Reno, Nevada Revenue Bonds, (NPFGC Insured), Series 2005**  |  |  |
| 0.000% due 06/01/2034 (b)  | 980 | 658 |
| 0.000% due 06/01/2036 (b)  | 1520 | 909 |
|  |  | 2598 |
| **NEW JERSEY 4.0%**  |  |  |
| **Middlesex County Improvement Authority, New Jersey Revenue Bonds, Series 2023** <br>5.000% due 08/15/2053 | 1000 | 1040 |
| **New Jersey Economic Development Authority Revenue Bonds, Series 2021** <br>4.000% due 06/15/2040 | 1000 | 999 |
| **New Jersey Transportation Trust Fund Authority Revenue Bonds, Series 2020** <br>4.000% due 06/15/2039 | 1000 | 1004 |
| **New Jersey Turnpike Authority Revenue Bonds, Series 2024** <br>5.250% due 01/01/2054 | 1000 | 1057 |
|  |  | 4100 |
| **NEW YORK 12.2%**  |  |  |
| **New York City, New York Municipal Water Finance Authority Revenue Bonds, Series 2023**  |  |  |
| 5.250% due 06/15/2048  | 300 | 317 |
| 5.250% due 06/15/2053  | 400 | 420 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2018** <br>5.000% due 08/01/2042 | 3100 | 3180 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2026** <br>5.000% due 11/01/2047 (a) | 1000 | 1045 |
| **New York State Dormitory Authority Revenue Bonds, Series 2018** <br>5.000% due 10/01/2048 | 500 | 562 |
| **New York State Dormitory Authority Revenue Bonds, Series 2023** <br>5.000% due 03/15/2042 | 2000 | 2149 |
| **New York State Dormitory Authority Revenue Bonds, Series 2024** <br>5.000% due 03/15/2046 | 1000 | 1042 |
| **New York State Housing Finance Agency Revenue Bonds, (FHA Insured), Series 2020** <br>4.200% due 11/01/2054 (d) | 695 | 641 |
| **New York State Urban Development Corp. Revenue Bonds, Series 2023** <br>5.000% due 03/15/2063 | 1000 | 1023 |
| **New York Transportation Development Corp. Revenue Bonds, (AGM Insured), Series 2023** <br>5.000% due 06/30/2049 | 1000 | 1004 |

---

------

<br> Schedule of Investments PIMCO Municipal Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Town of Hempstead, New York General Obligation Bonds, Series 2024** <br>4.000% due 05/01/2047 | 1000 | 987 |
|  |  | 12370 |
| **OHIO 0.4%**  |  |  |
| **Columbus Regional Airport Authority, Ohio Revenue Bonds, Series 2025** <br>5.000% due 01/01/2036 | 400 | 445 |
| **OREGON 1.0%**  |  |  |
| **Washington & Multnomah Counties School District No 48J Beaverton, Oregon General Obligation Bonds, Series 2022** <br>5.000% due 06/15/2052 | 1000 | 1036 |
| **PENNSYLVANIA 10.2%**  |  |  |
| **Geisinger Authority, Pennsylvania Revenue Bonds, Series 2017** <br>4.000% due 02/15/2039 | 2500 | 2483 |
| **Monroeville Finance Authority, Pennsylvania Revenue Bonds, Series 2022** <br>4.000% due 02/15/2037 | 1000 | 1019 |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, (AGM Insured), Series 2022** <br>5.000% due 12/31/2057 | 1575 | 1556 |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, Series 2022** <br>5.250% due 06/30/2053 | 1000 | 1014 |
| **Pennsylvania Higher Educational Facilities Authority Revenue Bonds, Series 2019** <br>4.000% due 08/15/2049 | 1000 | 900 |
| **Pennsylvania Turnpike Commission Revenue Bonds, Series 2018** <br>5.000% due 12/01/2043 | 3250 | 3350 |
|  |  | 10322 |
| **RHODE ISLAND 1.0%**  |  |  |
| **Rhode Island Health & Educational Building Corp. Revenue Bonds, Series 2024** <br>5.000% due 05/15/2043 | 1000 | 1028 |
| **TENNESSEE 1.1%**  |  |  |
| **Metropolitan Government of Nashville & Davidson County, Tennessee Water & Sewer Revenue Bonds, (BABs), Series 2010** <br>6.568% due 07/01/2037 | 1000 | 1099 |
| **TEXAS 16.3%**  |  |  |
| **Athens Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025** <br>5.000% due 02/15/2055 | 745 | 775 |
| **Denton Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023** <br>5.000% due 08/15/2053 | 1000 | 1031 |
| **Grand Parkway Transportation Corp. Texas Revenue Bonds, (AGM/CR Insured), Series 2020** <br>4.000% due 10/01/2049 | 1880 | 1741 |
| **Houston, Texas Airport System Revenue Bonds, (AGM Insured), Series 2023** <br>5.000% due 07/01/2038 | 150 | 162 |
| **Houston, Texas General Obligation Bonds, Series 2024** <br>5.250% due 03/01/2049 | 1000 | 1065 |
| **Medina Valley Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023** <br>4.500% due 02/15/2047 | 1000 | 1006 |
| **New Hope Cultural Education Facilities Finance Corp. Texas Revenue Bonds, Series 2017** <br>4.000% due 08/15/2040 | 1550 | 1512 |
| **Northside Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025** <br>5.000% due 08/15/2050 | 1500 | 1578 |
| **Odem-Edroy Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023** <br>5.000% due 08/15/2048 | 1115 | 1163 |
| **SA Energy Acquisition Public Facility Corp. Texas Revenue Bonds, Series 2007** <br>5.500% due 08/01/2027 | 2000 | 2061 |
| **San Antonio, Texas Electric & Gas Systems Revenue Bonds, Series 2023** <br>5.500% due 02/01/2050 | 1000 | 1075 |
| **Texas State University System Revenue Bonds, Series 2024** <br>5.000% due 03/15/2042 | 900 | 975 |
| **Texas Transportation Commission Revenue Bonds, Series 2019** <br>5.000% due 08/01/2057 | 1000 | 1012 |
| **Texas Water Development Board Revenue Bonds, Series 2023**  |  |  |
| 4.875% due 10/15/2048  | 800 | 822 |
| 5.000% due 10/15/2058  | 500 | 517 |
|  |  | 16495 |
| **UTAH 3.9%**  |  |  |
| **Salt Lake City, Utah Airport Revenue Bonds, Series 2023**  |  |  |
| 5.250% due 07/01/2037  | 1200 | 1332 |
| 5.250% due 07/01/2043  | 1500 | 1584 |
| 5.250% due 07/01/2048  | 1000 | 1037 |
|  |  | 3953 |
| **VIRGINIA 3.3%**  |  |  |
| **Hampton Roads Transportation Accountability Commission, Virginia Revenue Bonds, Series 2022** <br>4.000% due 07/01/2057 | 2500 | 2261 |

---

------

<br> Schedule of Investments PIMCO Municipal Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Henrico County, Virginia Economic Development Authority Revenue Bonds, Series 2025** <br>5.000% due 11/01/2048 | 1000 | 1034 |
|  |  | 3295 |
| **WASHINGTON 1.0%**  |  |  |
| **Port of Seattle, Washington Revenue Bonds, Series 2021** <br>4.000% due 08/01/2041 | 1000 | 972 |
| **WISCONSIN 0.5%**  |  |  |
| **Wisconsin Health & Educational Facilities Authority Revenue Bonds, Series 2016** <br>4.000% due 11/15/2046 | 550 | 506 |
| Total Municipal Bonds & Notes (Cost $97,220) |  | 96082 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.6%**  |  |  |
| **MUTUAL FUNDS 0.6%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.850% (c) | 574746 | 575 |
| Total Short-Term Instruments (Cost $575) |  | 575 |
| Total Investments in Securities (Cost $97,795) |  | 96657 |
| **INVESTMENTS IN AFFILIATES 4.2%**  |  |  |
| **SHORT-TERM INSTRUMENTS 4.2%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.2%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 443389 | 4319 |
| Total Short-Term Instruments (Cost $4,318) |  | 4319 |
| Total Investments in Affiliates (Cost $4,318) |  | 4319 |
| Total Investments 99.6% (Cost $102,113) |  | $100976 |
| Other Assets and Liabilities, net 0.4% |  | 393 |
| Net Assets 100.0% |  | $101369 |

---

------

<br> Schedule of Investments PIMCO Municipal Portfolio (Cont.) December 31, 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:**  |
| **\* 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.** |
| **(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.** |
| **(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.** |
| **(c)** | **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.** |
| **(d)** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** |
| Issuer Description | Coupon | Coupon | Maturity<br>Date | Acquisition<br>Date | Acquisition<br>Date | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
| New York State Housing Finance Agency Revenue Bonds, (FHA Insured), Series 2020 | % | % | 11/01/2054 | 11/28/2023 | 11/28/2023 | 756 | 641 | 0.63% |
| **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |
| **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** |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| Arizona | Arizona | $ | $0 | 0 | $2075 | $0 | $2075 | 2075 |
| Arkansas | Arkansas |  | 0 | 0 | 1441 | 0 | 1441 | 1441 |
| California | California |  | 0 | 0 | 8261 | 0 | 8261 | 8261 |
| Colorado | Colorado |  | 0 | 0 | 6587 | 0 | 6587 | 6587 |
| Connecticut | Connecticut |  | 0 | 0 | 2725 | 0 | 2725 | 2725 |
| District of Columbia | District of Columbia |  | 0 | 0 | 521 | 0 | 521 | 521 |
| Florida | Florida |  | 0 | 0 | 1434 | 0 | 1434 | 1434 |
| Georgia | Georgia |  | 0 | 0 | 1199 | 0 | 1199 | 1199 |
| Illinois | Illinois |  | 0 | 0 | 4022 | 0 | 4022 | 4022 |
| Indiana | Indiana |  | 0 | 0 | 901 | 0 | 901 | 901 |
| Kentucky | Kentucky |  | 0 | 0 | 1050 | 0 | 1050 | 1050 |
| Louisiana | Louisiana |  | 0 | 0 | 742 | 0 | 742 | 742 |
| Maryland | Maryland |  | 0 | 0 | 1732 | 0 | 1732 | 1732 |
| Massachusetts | Massachusetts |  | 0 | 0 | 1330 | 0 | 1330 | 1330 |
| Michigan | Michigan |  | 0 | 0 | 1312 | 0 | 1312 | 1312 |
| Minnesota | Minnesota |  | 0 | 0 | 2531 | 0 | 2531 | 2531 |
| Nevada | Nevada |  | 0 | 0 | 2598 | 0 | 2598 | 2598 |
| New Jersey | New Jersey |  | 0 | 0 | 4100 | 0 | 4100 | 4100 |
| New York | New York |  | 0 | 0 | 12370 | 0 | 12370 | 12370 |
| Ohio | Ohio |  | 0 | 0 | 445 | 0 | 445 | 445 |
| Oregon | Oregon |  | 0 | 0 | 1036 | 0 | 1036 | 1036 |
| Pennsylvania | Pennsylvania |  | 0 | 0 | 10322 | 0 | 10322 | 10322 |
| Rhode Island | Rhode Island |  | 0 | 0 | 1028 | 0 | 1028 | 1028 |
| Tennessee | Tennessee |  | 0 | 0 | 1099 | 0 | 1099 | 1099 |
| Texas | Texas |  | 0 | 0 | 16495 | 0 | 16495 | 16495 |
| Utah | Utah |  | 0 | 0 | 3953 | 0 | 3953 | 3953 |
| Virginia | Virginia |  | 0 | 0 | 3295 | 0 | 3295 | 3295 |
| Washington | Washington |  | 0 | 0 | 972 | 0 | 972 | 972 |
| Wisconsin | Wisconsin |  | 0 | 0 | 506 | 0 | 506 | 506 |
| 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 |  | 0 | 0 | 575 | 0 | 575 | 575 |
|  |  | $ | $0 | 0 | $96657 | $0 | $96657 | 96657 |
| **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** |
| 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 | $ | $4319 | 4319 | $0 | $0 | $4319 | 4319 |
| Total Investments | Total Investments | $ | $4319 | 4319 | $96657 | $0 | $100976 | 100976 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

---

------

<br> Schedule of Investments PIMCO Real Return Portfolio December 31, 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 184.5% ¤** |  |  |
| **U.S. TREASURY OBLIGATIONS 184.3%**  |  |  |
| **U.S. Treasury Inflation Protected Securities (a)** |  |  |
| 0.125% due 02/15/2051  | $7541 | $4079 |
| 0.125% due 02/15/2052  | 7837 | 4151 |
| 0.250% due 02/15/2050  | 8840 | 5095 |
| 0.625% due 02/15/2043  | 9630 | 7176 |
| 0.750% due 02/15/2042  | 11268 | 8783 |
| 0.750% due 02/15/2045  | 15404 | 11244 |
| 0.875% due 02/15/2047  | 11910 | 8598 |
| 1.000% due 02/15/2046  | 10540 | 7956 |
| 1.000% due 02/15/2048  | 7605 | 5562 |
| 1.000% due 02/15/2049  | 6858 | 4939 |
| 1.375% due 02/15/2044  | 15983 | 13397 |
| 1.500% due 02/15/2053  | 9311 | 7268 |
| 1.750% due 01/15/2028  | 9401 | 9473 |
| 2.125% due 02/15/2040  | 2260 | 2239 |
| 2.125% due 02/15/2041  | 6438 | 6309 |
| 2.125% due 02/15/2054  | 11034 | 9925 |
| 2.375% due 01/15/2027  | 11141 | 11230 |
| 2.375% due 02/15/2055 (c) | 7533 | 7153 |
| 3.625% due 04/15/2028  | 5556 | 5832 |
| 3.875% due 04/15/2029  | 3579 | 3856 |
| 0.125% due 07/15/2026  | 23092 | 22958 |
| 0.125% due 10/15/2026  | 18565 | 18393 |
| 0.125% due 04/15/2027  | 23641 | 23217 |
| 0.125% due 01/15/2030  | 21906 | 20784 |
| 0.125% due 07/15/2030  | 19049 | 17983 |
| 0.125% due 01/15/2031 (c) | 28818 | 26872 |
| 0.125% due 07/15/2031 (c) | 34818 | 32271 |
| 0.125% due 01/15/2032  | 25536 | 23342 |
| 0.250% due 07/15/2029  | 17948 | 17297 |
| 0.375% due 01/15/2027  | 24532 | 24232 |
| 0.375% due 07/15/2027  | 22628 | 22369 |
| 0.500% due 01/15/2028  | 24156 | 23736 |
| 0.625% due 07/15/2032 (c) | 33507 | 31446 |
| 0.750% due 07/15/2028  | 24257 | 23971 |
| 0.875% due 01/15/2029  | 24630 | 24255 |
| 1.125% due 10/15/2030  | 17112 | 16856 |
| 1.125% due 01/15/2033 (c) | 30716 | 29483 |
| 1.250% due 04/15/2028 (c) | 26704 | 26601 |
| 1.375% due 07/15/2033 (c) | 27875 | 27180 |
| 1.625% due 10/15/2027 (c) | 29677 | 29907 |
| 1.625% due 10/15/2029  | 12521 | 12647 |
| 1.625% due 04/15/2030 (c) | 31299 | 31465 |
| 1.750% due 01/15/2034 (c) | 36756 | 36562 |
| 1.875% due 07/15/2034 (c) | 29574 | 29703 |
| 1.875% due 07/15/2035 (c) | 26973 | 26909 |
| 2.125% due 04/15/2029 (c) | 32318 | 33007 |
| 2.125% due 01/15/2035 (c) | 32500 | 33085 |
| 2.375% due 10/15/2028 (c) | 26789 | 27592 |
| Total U.S. Treasury Obligations (Cost $870,884) |  | 858388 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 0.0%**  |  |  |
| **Chevy Chase Funding LLC Mortgage-Backed Certificates** <br>4.126% due 01/25/2035 •  | 21 | 21 |
| **Merrill Lynch Mortgage Investors Trust** <br>4.266% due 07/25/2030 •  | 117 | 110 |
| Total Non-Agency Mortgage-Backed Securities (Cost $135) |  | 131 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.2%**  |  |  |
| **MUTUAL FUNDS 0.2%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.850% (b) | 599077 | 599 |

---

------

<br> Schedule of Investments PIMCO Real Return Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Short-Term Instruments (Cost $599) |  | 599 |
| Total Investments in Securities (Cost $871,618) |  | 859118 |
| **INVESTMENTS IN AFFILIATES 0.6%**  |  |  |
| **SHORT-TERM INSTRUMENTS 0.6%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.6%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 295378 | 2877 |
| Total Short-Term Instruments (Cost $2,877) |  | 2877 |
| Total Investments in Affiliates (Cost $2,877) |  | 2877 |
| Total Investments 185.1% (Cost $874,495) |  | $861995 |
| **Financial Derivative Instruments (d)(e) (0.0)**%(Cost or Premiums, net $0) |  | (10) |
| Other Assets and Liabilities, net (85.1)% |  | (396219) |
| Net Assets 100.0% |  | $465766 |

---

------

<br> Schedule of Investments PIMCO Real Return Portfolio (Cont.) December 31, 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:**  | **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.** | **\* 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.** | **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.** |
| **•** | **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.** | **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.** |
| **(a)** | **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.** | **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.** |
| **(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.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **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** | **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:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Counterparty | Counterparty | Counterparty | Borrowing Rate<sup>(1)</sup> | Borrowing Rate<sup>(1)</sup> | Settlement Date | Settlement Date | Maturity Date | Maturity Date | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements<sup>(2)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements<sup>(2)</sup> |
| BSN | BSN | BSN | BSN | BSN | 3.810%  | 3.810%  | 01/02/2026 | 01/02/2026 | 01/16/2026 | 01/16/2026 | (10271) | (10271) | (10271) | (10271) | (10271) |
|  |  |  |  |  | 3.930  | 3.930  | 12/18/2025 | 12/18/2025 | 01/02/2026 | 01/02/2026 | (57220) | (57220) | (57220) | (57314) | (57314) |
| CTR | CTR | CTR | CTR | CTR | 3.860  | 3.860  | 01/02/2026 | 01/02/2026 | 01/05/2026 | 01/05/2026 | (388290) | (388290) | (388290) | (388290) | (388290) |
|  |  |  |  |  | 3.970  | 3.970  | 12/31/2025 | 12/31/2025 | 01/02/2026 | 01/02/2026 | (341924) | (341924) | (341924) | (341999) | (341999) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  |  | **(797874)** | **(797874)** |
| **(c)** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $403,373 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | The average amount of borrowings outstanding during the period ended December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. 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 December 31, 2025 was $(358414) at a weighted average interest rate of 4.425%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| <sup>(2)</sup> | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. | Unsettled reverse repurchase agreements liability of $(398561) is outstanding at period end. |
| **(d)** | **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** | **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:** | **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** | **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> | <u>Variation Margin</u> |
| Description | Description | Description |  | 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) | Asset | Asset |  | Liability |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 03/2026 | 150 | 150 | 16396 | 16396 | (1) | (1) | 0 | 0 | $ | (18) |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 72 | 72 | 8281 | 8281 | (30) | (30) | 0 | 0 |  | (13) |
|  |  |  |  |  |  |  |  |  |  | (31) | $ | 0 | 0 | $ | (31) |
| **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 |  | 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) | Asset | Asset |  | Liability |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 03/2026 | 37 | 37 | (7725) | (7725) | (5) | (5) | 2 | 2 | $ | 0 |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 03/2026 | 61 | 61 | (7198) | (7198) | 132 | 132 | 23 | 23 |  | 0 |
|  |  |  |  |  |  |  |  |  |  | 127 | $ | 25 | 25 | $ | 0 |
| **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** | **96** | **$** | **25** | **25** | **$** | **(31)** |
| **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:** |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount | Notional<br>Amount | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Asset | Asset | Liability |
| Pay | 2.700% | Maturity | 01/14/2026 | 01/14/2026 | 01/14/2026 | $3800 | 3800 | 0 | $ | (10) | (10) | (10) | $0 | 0 | $(3) |
| Pay | 3.300 | Maturity | 06/04/2026 | 06/04/2026 | 06/04/2026 | 2200 | 2200 | 0 |  | 12 | 12 | 12 | 0 | 0 | 0 |
| Pay | 3.433 | Maturity | 08/27/2026 | 08/27/2026 | 08/27/2026 | 4700 | 4700 | 0 |  | 30 | 30 | 30 | 1 | 1 | 0 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **$** | **$** | **32** | **$** | **1** | **$** | **(3)** |
| **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,091 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| **(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** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |

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<br> Schedule of Investments PIMCO Real Return Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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> |
| &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; SOG | 01/2026  | 90 | 90 | $104 | 104 | 104 | $0 | 0 | $(2) |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | **0** | **$** | **(2)** |
| **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio'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 12/31/2025 | Fair Value<br>at 12/31/2025 |
| **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** |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | $0 | 0 | $858388 | 858388 | 0 | $858388 | 858388 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 0 | 131 | 131 | 0 | 131 | 131 |
| 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 | 0 | 0 | 599 | 599 | 0 | 599 | 599 |
|  |  |  | $0 | 0 | $859118 | 859118 | 0 | $859118 | 859118 |
| **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** |
| 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 | $2877 | 2877 | $0 | 0 | 0 | $2877 | 2877 |
| Total Investments | Total Investments | Total Investments | $2877 | 2877 | $859118 | 859118 | 0 | $861995 | 861995 |
| **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**  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | $0 | 0 | $26 | 26 | 0 | $26 | 26 |
| **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**  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 0 | 0 | (34) | (34) | 0 | (34) | (34) |
| Over the counter | Over the counter | Over the counter | 0 | 0 | (2) | (2) | 0 | (2) | (2) |
|  |  |  | $0 | 0 | $(36) | (36) | 0 | $(36) | (36) |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $(10) | (10) | 0 | $(10) | (10) |
| Totals | Totals | Totals | $2877 | 2877 | $859108 | 859108 | 0 | $861985 | 861985 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I December 31, 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)** |
|  | PRINCIPAL<br>AMOUNT<br>(000s) | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 104.5% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 0.3%**  |  |  |
| **Project Flash**<br>TBD% - 9.966% (TSFR1M + 2.250%) due 04/30/2030 «~µ | $9000 | $9000 |
| Total Loan Participations and Assignments (Cost $9,000) |  | 9000 |
| **CORPORATE BONDS & NOTES 69.3%**  |  |  |
| **BANKING & FINANCE 29.6%**  |  |  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**  |  |  |
| 3.000% due 10/29/2028  | 200 | 194 |
| 6.100% due 01/15/2027  | 1500 | 1529 |
| 6.450% due 04/15/2027  | 3000 | 3083 |
| **AIA Group Ltd.** <br>5.625% due 10/25/2027 | 200 | 206 |
| **Aircastle Ltd./Aircastle Ireland DAC** <br>5.750% due 10/01/2031 | 350 | 365 |
| **Ally Financial, Inc.**  |  |  |
| 5.548% due 07/31/2033 •  | 1800 | 1814 |
| 6.184% due 07/26/2035 •  | 7655 | 7938 |
| 6.646% due 01/17/2040 •  | 2600 | 2624 |
| 8.000% due 11/01/2031  | 300 | 341 |
| **American Express Co.**  |  |  |
| 4.807% (SOFRINDX + 1.000%) due 02/16/2028 ~  | 2900 | 2916 |
| 5.085% due 01/30/2031 •  | 1200 | 1237 |
| 5.442% due 01/30/2036 •  | 4500 | 4676 |
| 5.645% due 04/23/2027 •  | 600 | 603 |
| **American Financial Group, Inc.** <br>5.000% due 09/23/2035 | 3000 | 2954 |
| **American Tower Corp.**  |  |  |
| 1.500% due 01/31/2028  | 3000 | 2849 |
| 1.875% due 10/15/2030  | 1200 | 1073 |
| 2.100% due 06/15/2030  | 900 | 817 |
| 3.550% due 07/15/2027  | 500 | 496 |
| 3.600% due 01/15/2028  | 1650 | 1636 |
| 5.000% due 01/31/2030  | 2725 | 2791 |
| 5.200% due 02/15/2029  | 1100 | 1132 |
| **Americold Realty Operating Partnership LP** <br>5.409% due 09/12/2034 | 2200 | 2148 |
| **Antares Holdings LP**  |  |  |
| 6.350% due 10/23/2029  | 1250 | 1277 |
| 6.500% due 02/08/2029  | 3650 | 3734 |
| 7.950% due 08/11/2028  | 2700 | 2858 |
| **ARES Capital Corp.** <br>7.000% due 01/15/2027 | 1100 | 1128 |
| **ARES Strategic Income Fund**  |  |  |
| 4.850% due 01/15/2029  | 2900 | 2867 |
| 5.150% due 01/15/2031  | 2300 | 2258 |
| **Aviation Capital Group LLC**  |  |  |
| 5.125% due 04/10/2030  | 4300 | 4368 |
| 5.375% due 07/15/2029  | 3000 | 3075 |
| 6.250% due 04/15/2028  | 300 | 312 |
| 6.750% due 10/25/2028  | 1800 | 1911 |
| **Avilease Capital Ltd.** <br>4.750% due 11/12/2030 | 3200 | 3177 |
| **Avolon Holdings Funding Ltd.**  |  |  |
| 4.950% due 01/15/2028  | 1700 | 1721 |
| 4.950% due 10/15/2032  | 4100 | 4064 |
| 5.375% due 05/30/2030  | 1800 | 1850 |
| 5.750% due 03/01/2029  | 750 | 776 |
| 6.375% due 05/04/2028  | 2575 | 2684 |
| **Bain Capital Specialty Finance, Inc.** <br>5.950% due 03/15/2030 | 4000 | 3989 |
| **Banco Bilbao Vizcaya Argentaria SA**  |  |  |
| 5.381% due 03/13/2029  | 1400 | 1453 |
| 7.883% due 11/15/2034 •  | 2000 | 2331 |
| **Banco Santander SA**  |  |  |
| 4.175% due 03/24/2028 •  | 8600 | 8605 |
| 5.110% (SOFRRATE + 1.380%) due 03/14/2028 ~  | 1600 | 1612 |
| 5.127% due 11/06/2035  | 2200 | 2200 |
| 5.294% due 08/18/2027  | 800 | 815 |
| 5.552% due 03/14/2028 •  | 2200 | 2238 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Bank of America Corp.**  |  |  |
| 1.922% due 10/24/2031 •  | 1800 | 1610 |
| 2.592% due 04/29/2031 •  | 2600 | 2424 |
| 3.419% due 12/20/2028 •  | 2565 | 2534 |
| 3.559% due 04/23/2027 •  | 580 | 579 |
| 3.593% due 07/21/2028 •  | 4200 | 4173 |
| 3.824% due 01/20/2028 •  | 1300 | 1297 |
| 5.202% due 04/25/2029 •  | 12549 | 12872 |
| 5.288% due 04/25/2034 •  | 13100 | 13491 |
| 5.468% due 01/23/2035 •  | 3450 | 3595 |
| **Banque Federative du Credit Mutuel SA**  |  |  |
| 5.194% due 02/16/2028  | 1800 | 1841 |
| 5.538% due 01/22/2030  | 2200 | 2287 |
| 5.790% due 07/13/2028  | 4000 | 4156 |
| **Barclays PLC**  |  |  |
| 4.476% due 11/11/2029 •  | 1500 | 1508 |
| 5.785% due 02/25/2036 •  | 3000 | 3142 |
| 6.496% due 09/13/2027 •  | 1900 | 1930 |
| 7.385% due 11/02/2028 •  | 1300 | 1374 |
| 7.437% due 11/02/2033 •  | 3000 | 3432 |
| 9.625% due 12/15/2029 •(f)(g)  | 1500 | 1706 |
| **BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico**  |  |  |
| 7.625% due 02/11/2035 •(g)  | 3100 | 3263 |
| 8.125% due 01/08/2039 •(g)  | 900 | 974 |
| **BGC Group, Inc.**  |  |  |
| 6.150% due 04/02/2030  | 5700 | 5910 |
| 6.600% due 06/10/2029  | 1700 | 1775 |
| 8.000% due 05/25/2028  | 1718 | 1837 |
| **Blackstone Private Credit Fund** <br>6.000% due 01/29/2032 | 3400 | 3453 |
| **Blue Owl Finance LLC** <br>6.250% due 04/18/2034 | 185 | 191 |
| **BNP Paribas SA**  |  |  |
| 5.283% due 11/19/2030 •  | 5200 | 5354 |
| 5.786% due 01/13/2033 •  | 1100 | 1156 |
| 5.906% due 11/19/2035 •  | 5200 | 5401 |
| 8.000% due 08/22/2031 •(f)(g)  | 1200 | 1300 |
| **BPCE SA**  |  |  |
| 5.389% due 05/28/2031 •  | 4000 | 4108 |
| 5.876% due 01/14/2031 •  | 2000 | 2091 |
| 5.975% due 01/18/2027 •  | 500 | 500 |
| 6.293% due 01/14/2036 •  | 3300 | 3524 |
| 6.612% due 10/19/2027 •  | 800 | 815 |
| 6.915% due 01/14/2046 •  | 1750 | 1874 |
| **Brandywine Operating Partnership LP** <br>3.950% due 11/15/2027 | 2500 | 2452 |
| **Brookfield Asset Management Ltd.** <br>5.795% due 04/24/2035 | 3500 | 3670 |
| **Brown & Brown, Inc.** <br>6.250% due 06/23/2055 | 1500 | 1562 |
| **CaixaBank SA**  |  |  |
| 6.037% due 06/15/2035 •  | 200 | 213 |
| 6.684% due 09/13/2027 •  | 3500 | 3562 |
| **Cantor Fitzgerald LP** <br>7.200% due 12/12/2028 | 2400 | 2552 |
| **Capital One Financial Corp.**  |  |  |
| 6.183% due 01/30/2036 •  | 6100 | 6370 |
| 6.377% due 06/08/2034 •  | 200 | 216 |
| 7.624% due 10/30/2031 •  | 1600 | 1809 |
| 7.964% due 11/02/2034 •  | 500 | 590 |
| **Carlyle Group, Inc.** <br>5.050% due 09/19/2035 | 4500 | 4439 |
| **CBRE Services, Inc.** <br>4.900% due 01/15/2033 | 1900 | 1910 |
| **CI Financial Corp.**  |  |  |
| 4.625% due 12/12/2031  | 5400 | 6396 |
| 7.500% due 05/30/2029  | $1150 | 1224 |
| **Citadel Finance LLC** <br>5.900% due 02/10/2030 | 14080 | 14380 |
| **Citadel LP**  |  |  |
| 6.000% due 01/23/2030  | 700 | 732 |
| 6.375% due 01/23/2032  | 3600 | 3823 |
| **Citadel Securities Global Holdings LLC** <br>6.200% due 06/18/2035 | 2450 | 2581 |
| **Citigroup, Inc.**  |  |  |
| 3.785% due 03/17/2033 •  | 1600 | 1528 |
| 4.412% due 03/31/2031 •  | 4900 | 4901 |
| 4.503% due 09/11/2031 •  | 7800 | 7826 |
| 5.174% due 09/11/2036 •  | 700 | 707 |
| **Citizens Financial Group, Inc.**  |  |  |
| 5.253% due 03/05/2031 •  | 3000 | 3084 |
| 5.718% due 07/23/2032 •  | 8500 | 8915 |
| 5.841% due 01/23/2030 •  | 1700 | 1773 |
| **Corebridge Financial, Inc.**  |  |  |
| 3.650% due 04/05/2027  | 600 | 597 |
| 6.375% due 09/15/2054 •  | 500 | 504 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Corebridge Global Funding** <br>4.584% (SOFRRATE + 0.860%) due 12/15/2028 ~ | 2100 | 2104 |
| **Corp. Inmobiliaria Vesta SAB de CV** <br>5.500% due 01/30/2033 | 3100 | 3143 |
| **CoStar Group, Inc.** <br>2.800% due 07/15/2030 | 1400 | 1284 |
| **Cousins Properties LP** <br>5.375% due 02/15/2032 | 2884 | 2973 |
| **Credicorp Capital Sociedad Titulizadora SA** <br>9.700% due 03/05/2045 | 3000 | 946 |
| **Credit Agricole SA**  |  |  |
| 5.222% due 05/27/2031 •  | $600 | 616 |
| 5.862% due 01/09/2036 •  | 6900 | 7282 |
| **Crown Castle, Inc.**  |  |  |
| 1.050% due 07/15/2026  | 500 | 492 |
| 3.650% due 09/01/2027  | 800 | 794 |
| 4.900% due 09/01/2029  | 1400 | 1424 |
| 5.600% due 06/01/2029  | 880 | 914 |
| 5.800% due 03/01/2034  | 400 | 420 |
| **Dai-ichi Life Insurance Co. Ltd.** <br>6.200% due 01/16/2035 •(f) | 5700 | 5977 |
| **Danske Bank AS**  |  |  |
| 4.420% due 09/12/2031 •  | 1700 | 1692 |
| 5.705% due 03/01/2030 •  | 700 | 728 |
| **DaVinciRe Holdings Ltd.** <br>5.950% due 04/15/2035 | 2600 | 2680 |
| **Deloitte LLP** <br>5.590% due 01/30/2035 «(i) | 2800 | 2851 |
| **Deutsche Bank AG**  |  |  |
| 4.469% due 12/10/2031 •  | 1800 | 1794 |
| 5.706% due 02/08/2028 •  | 1100 | 1118 |
| 6.720% due 01/18/2029 •  | 4130 | 4325 |
| 6.819% due 11/20/2029 •  | 1900 | 2028 |
| **Digital Realty Trust LP** <br>5.550% due 01/15/2028 | 1640 | 1686 |
| **EPR Properties**  |  |  |
| 3.600% due 11/15/2031  | 2000 | 1857 |
| 3.750% due 08/15/2029  | 4400 | 4269 |
| 4.500% due 06/01/2027  | 200 | 200 |
| 4.950% due 04/15/2028  | 1400 | 1411 |
| **Equinix Europe 2 Financing Corp. LLC** <br>3.250% due 03/15/2031 | 3700 | 4300 |
| **Equinix, Inc.**  |  |  |
| 1.450% due 05/15/2026  | $1900 | 1883 |
| 3.000% due 07/15/2050  | 300 | 192 |
| **Essential Properties LP** <br>2.950% due 07/15/2031 | 3600 | 3293 |
| **Extra Space Storage LP**  |  |  |
| 5.400% due 06/15/2035  | 5900 | 6051 |
| 5.700% due 04/01/2028  | 400 | 413 |
| **F&G Annuities & Life, Inc.**  |  |  |
| 6.250% due 10/04/2034  | 3000 | 3053 |
| 6.500% due 06/04/2029  | 3300 | 3443 |
| **F&G Global Funding** <br>5.875% due 01/16/2030 | 2100 | 2182 |
| **Federation des Caisses Desjardins du Quebec**  |  |  |
| 4.526% (SOFRRATE + 0.630%) due 01/27/2027 ~  | 1700 | 1706 |
| 4.565% due 08/26/2030  | 2400 | 2419 |
| **FIBRA Prologis** <br>5.500% due 11/26/2035 | 4700 | 4725 |
| **First Citizens BancShares, Inc.** <br>5.231% due 03/12/2031 •  | 4100 | 4168 |
| **First Industrial LP** <br>5.250% due 01/15/2031 | 1300 | 1328 |
| **Ford Motor Credit Co. LLC**  |  |  |
| 2.900% due 02/16/2028  | 1000 | 963 |
| 3.815% due 11/02/2027  | 3400 | 3350 |
| 4.125% due 08/17/2027  | 2005 | 1990 |
| 4.271% due 01/09/2027  | 400 | 398 |
| 4.950% due 05/28/2027  | 534 | 536 |
| 5.125% due 11/05/2026  | 1600 | 1609 |
| 5.303% due 09/06/2029  | 4225 | 4260 |
| 5.800% due 03/05/2027  | 400 | 405 |
| 5.800% due 03/08/2029  | 800 | 818 |
| 5.850% due 05/17/2027  | 1198 | 1217 |
| 5.875% due 11/07/2029  | 6000 | 6162 |
| 5.918% due 03/20/2028  | 200 | 205 |
| 6.800% due 05/12/2028  | 585 | 611 |
| 6.950% due 06/10/2026  | 400 | 404 |
| 7.122% due 11/07/2033  | 800 | 860 |
| 7.200% due 06/10/2030  | 300 | 322 |
| 7.350% due 11/04/2027  | 1900 | 1984 |
| **FS KKR Capital Corp.** <br>6.125% due 01/15/2031 | 5200 | 5078 |
| **FWD Group Holdings Ltd.**  |  |  |
| 5.252% due 09/22/2030  | 2700 | 2718 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.836% due 09/22/2035  | 2500 | 2532 |
| **GA Global Funding Trust** <br>5.900% due 01/13/2035 | 2400 | 2462 |
| **General Motors Financial Co., Inc.**  |  |  |
| 2.700% due 08/20/2027  | 200 | 196 |
| 5.000% due 07/15/2027  | 1800 | 1825 |
| 5.050% due 04/04/2028  | 5000 | 5097 |
| **Global Atlantic Fin Co.** <br>6.750% due 03/15/2054 | 1300 | 1329 |
| **GLP Capital LP/GLP Financing II, Inc.**  |  |  |
| 4.000% due 01/15/2030  | 3050 | 2974 |
| 4.000% due 01/15/2031  | 1900 | 1826 |
| 5.300% due 01/15/2029  | 2700 | 2749 |
| 5.625% due 09/15/2034  | 9150 | 9291 |
| 5.750% due 06/01/2028  | 3100 | 3192 |
| **Goldman Sachs Bank USA**  |  |  |
| 4.495% (SOFRRATE + 0.770%) due 03/18/2027 ~  | 3100 | 3104 |
| 4.539% (SOFRRATE + 0.750%) due 05/21/2027 ~  | 3100 | 3105 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 1.948% due 10/21/2027 •  | 1400 | 1377 |
| 2.615% due 04/22/2032 •  | 3791 | 3458 |
| 3.691% due 06/05/2028 •  | 1015 | 1010 |
| 4.369% due 10/21/2031 •  | 4200 | 4191 |
| 4.939% due 10/21/2036 •  | 2000 | 1986 |
| 5.049% due 07/23/2030 •  | 1700 | 1742 |
| 5.330% due 07/23/2035 •  | 2400 | 2467 |
| 5.536% due 01/28/2036 •  | 2000 | 2077 |
| 5.727% due 04/25/2030 •  | 2300 | 2403 |
| 7.250% due 04/10/2028  | 200 | 287 |
| **Goldman Sachs Private Credit Corp.** <br>5.875% due 01/31/2031 | $3400 | 3406 |
| **Golub Capital Private Credit Fund** <br>0.000% due 08/15/2028 ~ | 3000 | 3022 |
| **Goodman U.S. Finance Six LLC** <br>5.125% due 10/07/2034 | 4600 | 4632 |
| **HA Sustainable Infrastructure Capital, Inc.** <br>6.375% due 07/01/2034 | 2000 | 2038 |
| **HAT Holdings I LLC/HAT Holdings II LLC** <br>8.000% due 06/15/2027 | 945 | 981 |
| **Highwoods Realty LP**  |  |  |
| 3.050% due 02/15/2030  | 200 | 186 |
| 7.650% due 02/01/2034  | 700 | 798 |
| **Horizon Mutual Holdings, Inc.** <br>6.200% due 11/15/2034 | 2000 | 1936 |
| **Host Hotels & Resorts LP**  |  |  |
| 3.500% due 09/15/2030  | 1500 | 1432 |
| 5.700% due 06/15/2032  | 3900 | 4075 |
| 5.700% due 07/01/2034  | 1950 | 2020 |
| **HPS Corporate Lending Fund**  |  |  |
| 4.900% due 09/11/2028  | 1100 | 1095 |
| 5.300% due 06/05/2027  | 3400 | 3422 |
| 5.450% due 01/14/2028  | 1800 | 1820 |
| 5.450% due 11/15/2030  | 3700 | 3691 |
| 6.750% due 01/30/2029  | 1500 | 1567 |
| **HSBC Holdings PLC**  |  |  |
| 2.206% due 08/17/2029 •  | 1980 | 1885 |
| 4.041% due 03/13/2028 •  | 375 | 375 |
| 5.130% due 11/19/2028 •  | 2000 | 2038 |
| 5.130% due 03/03/2031 •  | 500 | 513 |
| 5.133% due 11/06/2036 •  | 900 | 903 |
| 5.286% due 11/19/2030 •  | 4300 | 4438 |
| 5.395% (SOFRRATE + 1.570%) due 05/13/2031 ~  | 4500 | 4594 |
| 7.390% due 11/03/2028 •  | 6000 | 6345 |
| **ING Bank Australia Ltd.** <br>4.837% due 03/22/2027 | 1100 | 737 |
| **Intesa Sanpaolo SpA** <br>7.200% due 11/28/2033 | $1300 | 1485 |
| **Invitation Homes Operating Partnership LP** <br>4.950% due 01/15/2033 | 5400 | 5481 |
| **Israel Discount Bank Ltd.** <br>5.375% due 01/26/2028 | 1600 | 1627 |
| **JAB Holdings BV** <br>4.375% due 04/25/2034 | 1100 | 1326 |
| **Jackson National Life Global Funding** <br>4.900% due 01/13/2027 | $600 | 605 |
| **Janus Henderson U.S. Holdings, Inc.** <br>5.450% due 09/10/2034 | 1300 | 1321 |
| **John Deere Capital Corp.**  |  |  |
| 4.251% (SOFRRATE + 0.500%) due 03/06/2028 ~  | 1100 | 1103 |
| 5.100% due 04/11/2034  | 1700 | 1758 |
| **JPMorgan Chase & Co.**  |  |  |
| 2.182% due 06/01/2028 •  | 800 | 780 |
| 3.509% due 01/23/2029 •  | 2300 | 2280 |
| 3.782% due 02/01/2028 •  | 2000 | 1996 |
| 4.005% due 04/23/2029 •  | 1400 | 1399 |
| 4.203% due 07/23/2029 •  | 918 | 921 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.565% due 06/14/2030 •  | 1350 | 1366 |
| 4.810% due 10/22/2036 •  | 3100 | 3079 |
| 4.851% due 07/25/2028 •  | 4000 | 4052 |
| 4.979% due 07/22/2028 •  | 1000 | 1016 |
| 5.040% due 01/23/2028 •  | 3687 | 3726 |
| 5.294% due 07/22/2035 •  | 600 | 619 |
| 5.299% due 07/24/2029 •  | 1200 | 1237 |
| 5.350% due 06/01/2034 •  | 4100 | 4261 |
| 5.571% due 04/22/2028 •  | 2300 | 2346 |
| 5.581% due 04/22/2030 •  | 3300 | 3444 |
| 5.766% due 04/22/2035 •  | 3140 | 3348 |
| 6.087% due 10/23/2029 •  | 7400 | 7797 |
| 6.254% due 10/23/2034 •  | 3600 | 3959 |
| **Kilroy Realty LP**  |  |  |
| 2.500% due 11/15/2032  | 1400 | 1170 |
| 2.650% due 11/15/2033  | 5550 | 4556 |
| 4.250% due 08/15/2029  | 200 | 196 |
| 6.250% due 01/15/2036  | 2900 | 2999 |
| **KKR & Co., Inc.** <br>5.100% due 08/07/2035 | 1000 | 1001 |
| **Lazard Group LLC** <br>6.000% due 03/15/2031 | 4000 | 4241 |
| **Lloyds Banking Group PLC**  |  |  |
| 4.849% (SOFRINDX + 1.060%) due 11/26/2028 ~  | 5000 | 5026 |
| 5.871% due 03/06/2029 •  | 1620 | 1680 |
| 6.068% due 06/13/2036 •  | 3000 | 3156 |
| **LPL Holdings, Inc.** <br>5.650% due 03/15/2035 | 1600 | 1641 |
| **Main Street Capital Corp.** <br>5.400% due 08/15/2028 | 3300 | 3318 |
| **Marex Group PLC**  |  |  |
| 5.829% due 05/08/2028  | 3601 | 3663 |
| 6.404% due 11/04/2029  | 3132 | 3250 |
| **MassMutual Global Funding II** <br>5.050% due 08/26/2035 | 3000 | 3018 |
| **Mitsubishi HC Capital, Inc.** <br>5.080% due 09/15/2027 | 200 | 203 |
| **Mitsubishi UFJ Financial Group, Inc.**  |  |  |
| 4.527% due 09/12/2031 •  | 1800 | 1810 |
| 5.197% due 01/16/2031 •  | 1600 | 1652 |
| 5.426% due 04/17/2035 •  | 2000 | 2079 |
| 5.574% due 01/16/2036 •  | 7400 | 7758 |
| 5.615% due 04/24/2036 •  | 6000 | 6283 |
| **Mizuho Financial Group, Inc.**  |  |  |
| 4.711% due 07/08/2031 •  | 2500 | 2533 |
| 5.382% due 07/10/2030 •  | 1100 | 1138 |
| 5.739% due 05/27/2031 •  | 300 | 316 |
| **Morgan Stanley**  |  |  |
| 3.772% due 01/24/2029 •  | 300 | 298 |
| 4.210% due 04/20/2028 •  | 535 | 536 |
| 5.042% due 07/19/2030 •  | 2649 | 2717 |
| 5.250% due 04/21/2034 •  | 2300 | 2369 |
| 5.424% due 07/21/2034 •(j)  | 5600 | 5828 |
| 5.449% due 07/20/2029 •  | 5600 | 5780 |
| 5.652% due 04/13/2028 •  | 600 | 612 |
| 6.407% due 11/01/2029 •  | 1000 | 1060 |
| **Morgan Stanley Bank NA**  |  |  |
| 4.952% due 01/14/2028 •  | 1900 | 1918 |
| 4.968% due 07/14/2028 •  | 1850 | 1876 |
| 5.016% due 01/12/2029 •  | 4800 | 4889 |
| 5.026% (SOFRRATE + 1.080%) due 01/14/2028 ~  | 1600 | 1611 |
| 5.504% due 05/26/2028 •  | 1200 | 1225 |
| **Morgan Stanley Private Bank NA**  |  |  |
| 4.204% due 11/17/2028 •  | 4750 | 4766 |
| 4.466% due 07/06/2028 •  | 5450 | 5488 |
| 4.734% due 07/18/2031 •  | 2600 | 2636 |
| **MSD Investment Corp.** <br>6.250% due 05/31/2030 | 3300 | 3323 |
| **Mutual of Omaha Cos Global Funding** <br>5.350% due 04/09/2027 | 1900 | 1929 |
| **National Health Investors, Inc.** <br>5.350% due 02/01/2033 | 1700 | 1698 |
| **National Securities Clearing Corp.** <br>4.700% due 05/20/2030 | 700 | 716 |
| **Nationwide Building Society**  |  |  |
| 5.537% due 07/14/2036 •  | 1400 | 1447 |
| 6.557% due 10/18/2027 •  | 2100 | 2140 |
| **NatWest Group PLC**  |  |  |
| 3.073% due 05/22/2028 •  | 2400 | 2370 |
| 4.892% due 05/18/2029 •  | 2613 | 2659 |
| 5.516% due 09/30/2028 •  | 2300 | 2360 |
| **NatWest Markets PLC** <br>4.174% due 11/06/2028 | 4000 | 4013 |
| **Nissan Motor Acceptance Co. LLC**  |  |  |
| 5.300% due 09/13/2027  | 2800 | 2806 |
| 5.773% (SOFRINDX + 2.050%) due 09/13/2027 ~  | 1800 | 1789 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.950% due 09/15/2026  | 1500 | 1521 |
| **NLG Global Funding** <br>5.400% due 01/23/2030 | 2000 | 2057 |
| **Nomura Holdings, Inc.** <br>2.329% due 01/22/2027 | 600 | 590 |
| **Nordea Bank Abp** <br>6.300% due 09/25/2031 •(f)(g)(j) | 1300 | 1333 |
| **Norinchukin Bank**  |  |  |
| 5.094% due 10/16/2029  | 2200 | 2244 |
| 5.359% due 09/09/2035  | 6800 | 6896 |
| **Nuveen Churchill Direct Lending Corp.** <br>6.650% due 03/15/2030 | 800 | 821 |
| **Nuveen LLC** <br>5.550% due 01/15/2030 | 2000 | 2085 |
| **Oaktree Specialty Lending Corp.** <br>6.340% due 02/27/2030 | 2600 | 2611 |
| **Pacific Life Global Funding II** <br>4.500% due 08/28/2029 | 4500 | 4550 |
| **Panama Infrastructure Receivable Purchaser PLC** <br>0.000% due 04/05/2032 (d) | 1200 | 927 |
| **Paychex, Inc.**  |  |  |
| 5.350% due 04/15/2032  | 1100 | 1140 |
| 5.600% due 04/15/2035  | 1000 | 1048 |
| **PNC Financial Services Group, Inc.** <br>6.615% due 10/20/2027 •  | 1400 | 1428 |
| **Popular, Inc.** <br>7.250% due 03/13/2028 | 400 | 422 |
| **Prologis LP** <br>4.200% due 02/15/2033 | 2400 | 1761 |
| **Realty Income Corp.** <br>5.000% due 10/15/2029 | 1400 | 1916 |
| **RGA Global Funding**  |  |  |
| 5.250% due 01/09/2030  | $900 | 931 |
| 5.500% due 01/11/2031  | 2000 | 2082 |
| **Royal Bank of Canada**  |  |  |
| 4.305% due 11/03/2031 •  | 1200 | 1195 |
| 4.970% due 05/02/2031 •  | 2000 | 2046 |
| **Sabra Health Care LP** <br>3.200% due 12/01/2031 | 4000 | 3666 |
| **Safehold GL Holdings LLC** <br>5.650% due 01/15/2035 | 4800 | 4940 |
| **Sammons Financial Group, Inc.** <br>6.875% due 04/15/2034 | 2500 | 2744 |
| **Santander Holdings USA, Inc.** <br>5.741% due 03/20/2031 •  | 1600 | 1658 |
| **Santander U.K. Group Holdings PLC**  |  |  |
| 2.469% due 01/11/2028 •  | 1100 | 1082 |
| 5.136% due 09/22/2036 •  | 5000 | 4989 |
| **SBL Holdings, Inc.**  |  |  |
| 5.900% due 09/26/2028  | 3300 | 3286 |
| 7.200% due 10/30/2034  | 5300 | 5135 |
| **Selective Insurance Group, Inc.** <br>5.900% due 04/15/2035 | 600 | 630 |
| **Sixth Street Lending Partners**  |  |  |
| 5.750% due 01/15/2030  | 4500 | 4562 |
| 6.500% due 03/11/2029  | 3000 | 3112 |
| **SMBC Aviation Capital Finance DAC**  |  |  |
| 5.250% due 11/26/2035  | 3200 | 3202 |
| 5.700% due 07/25/2033  | 1300 | 1358 |
| **Standard Chartered PLC** <br>6.750% due 02/08/2028 •  | 4200 | 4317 |
| **Stellantis Financial Services U.S. Corp.** <br>5.400% due 09/15/2030 | 4900 | 4978 |
| **Store Capital LLC** <br>5.400% due 04/30/2030 | 2000 | 2040 |
| **Sumitomo Mitsui Financial Group, Inc.**  |  |  |
| 3.040% due 07/16/2029  | 3000 | 2883 |
| 5.240% due 04/15/2030  | 300 | 312 |
| **Sumitomo Mitsui Trust Bank Ltd.**  |  |  |
| 4.450% due 09/10/2027  | 1100 | 1110 |
| 4.500% due 03/13/2028  | 2000 | 2021 |
| 4.500% due 09/10/2029  | 2900 | 2930 |
| 4.850% due 09/10/2034  | 200 | 201 |
| 5.050% due 03/13/2035  | 4000 | 4069 |
| 5.200% due 03/07/2027  | 700 | 710 |
| **Sumitomo Mitsui Trust Group, Inc.** <br>5.416% due 09/11/2036 •  | 1900 | 1911 |
| **Swiss RE Subordinated Finance PLC** <br>5.698% due 04/05/2035 •  | 1200 | 1249 |
| **Synchrony Bank** <br>5.625% due 08/23/2027 | 2550 | 2602 |
| **Synchrony Financial** <br>3.950% due 12/01/2027 | 2300 | 2291 |
| **Toronto-Dominion Bank** <br>4.701% due 06/05/2027 | 300 | 301 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Toyota Motor Credit Corp.** <br>4.375% (SOFRRATE + 0.650%) due 03/19/2027 ~ | 400 | 402 |
| **Trust 2401**  |  |  |
| 7.375% due 02/13/2034  | 1068 | 1186 |
| 7.700% due 01/23/2032  | 3536 | 3915 |
| **Trust Fibra Uno** <br>7.375% due 02/13/2034 | 432 | 473 |
| **U.S. Bancorp** <br>6.787% due 10/26/2027 •  | 1150 | 1175 |
| **UBS AG**  |  |  |
| 1.250% due 08/07/2026  | 400 | 394 |
| 4.864% due 01/10/2028 •  | 1400 | 1412 |
| **UBS Group AG**  |  |  |
| 1.305% due 02/02/2027 •  | 2300 | 2294 |
| 3.869% due 01/12/2029 •  | 800 | 796 |
| 4.151% due 12/23/2029 •  | 900 | 899 |
| 4.398% due 09/23/2031 •  | 3000 | 2986 |
| 4.703% due 08/05/2027 •  | 400 | 401 |
| 5.010% due 03/23/2037 •  | 5900 | 5850 |
| 5.617% due 09/13/2030 •  | 2900 | 3030 |
| 6.850% due 09/10/2029 •(f)(g)  | 3500 | 3593 |
| **VB DPR Finance Co.** <br>6.833% due 03/15/2035 «(i) | 6300 | 6768 |
| **VICI Properties LP**  |  |  |
| 4.750% due 02/15/2028  | 800 | 808 |
| 5.125% due 11/15/2031  | 1400 | 1419 |
| 5.125% due 05/15/2032  | 2600 | 2619 |
| 5.625% due 04/01/2035  | 4900 | 5006 |
| 5.625% due 05/15/2052  | 2100 | 1965 |
| 5.750% due 04/01/2034  | 2000 | 2065 |
| **VICI Properties LP/VICI Note Co., Inc.** <br>3.875% due 02/15/2029 | 2985 | 2931 |
| **Vornado Realty LP** <br>2.150% due 06/01/2026 | 100 | 99 |
| **Wells Fargo & Co.**  |  |  |
| 2.393% due 06/02/2028 •  | 9018 | 8814 |
| 2.879% due 10/30/2030 •  | 2500 | 2379 |
| 3.196% due 06/17/2027 •  | 2250 | 2241 |
| 3.526% due 03/24/2028 •  | 305 | 303 |
| 4.808% due 07/25/2028 •  | 1500 | 1517 |
| 4.982% (SOFRRATE + 1.070%) due 04/22/2028 ~  | 300 | 302 |
| 5.211% due 12/03/2035 •  | 3000 | 3066 |
| 5.499% due 01/23/2035 •  | 900 | 940 |
| 5.557% due 07/25/2034 •  | 5700 | 5979 |
| 5.574% due 07/25/2029 •  | 7665 | 7944 |
| 5.707% due 04/22/2028 •  | 3900 | 3981 |
| 6.303% due 10/23/2029 •  | 3363 | 3554 |
| 6.491% due 10/23/2034 •  | 1100 | 1218 |
| **Wells Fargo Bank NA** <br>5.254% due 12/11/2026 | 1900 | 1923 |
| **Welltower OP LLC** <br>5.125% due 07/01/2035 | 2200 | 2246 |
| **Weyerhaeuser Co.** <br>4.000% due 04/15/2030 | 900 | 889 |
|  |  | 956754 |
| **INDUSTRIALS 30.6%**  |  |  |
| **180 Medical, Inc.** <br>5.300% due 10/08/2035 | 1000 | 999 |
| **AbbVie, Inc.**  |  |  |
| 3.200% due 11/21/2029  | 1500 | 1455 |
| 4.800% due 03/15/2029  | 2600 | 2664 |
| 4.875% due 03/15/2030  | 1000 | 1031 |
| **AEP Transmission Co. LLC** <br>5.150% due 04/01/2034 | 3200 | 3270 |
| **Air Canada Pass-Through Trust** <br>5.250% due 10/01/2030 | 675 | 691 |
| **Aker BP ASA** <br>5.125% due 10/01/2034 | 3100 | 3035 |
| **Alaska Airlines Pass-Through Trust** <br>4.800% due 02/15/2029 | 304 | 306 |
| **Alibaba Group Holding Ltd.**  |  |  |
| 2.700% due 02/09/2041  | 600 | 441 |
| 5.625% due 11/26/2054  | 3000 | 3044 |
| **Alphabet, Inc.** <br>4.700% due 11/15/2035 | 3000 | 3002 |
| **Altria Group, Inc.**  |  |  |
| 4.500% due 08/06/2030  | 1400 | 1412 |
| 4.875% due 02/04/2028  | 700 | 712 |
| 5.625% due 02/06/2035  | 2600 | 2705 |
| **Amazon.com, Inc.** <br>4.350% due 03/20/2033 | 5000 | 4985 |
| **Amcor Flexibles North America, Inc.** <br>5.100% due 03/17/2030 | 2000 | 2054 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **American Airlines Pass-Through Trust**  |  |  |
| 3.200% due 12/15/2029  | 409 | 400 |
| 3.575% due 07/15/2029  | 776 | 769 |
| 3.600% due 03/22/2029  | 165 | 164 |
| 4.900% due 11/11/2039  | 3600 | 3584 |
| **Amgen, Inc.**  |  |  |
| 2.450% due 02/21/2030  | 6100 | 5692 |
| 4.200% due 03/01/2033  | 3000 | 2934 |
| 5.150% due 03/02/2028  | 400 | 409 |
| 5.750% due 03/02/2063  | 1500 | 1465 |
| **Amphenol Corp.** <br>4.125% due 11/15/2030 | 800 | 796 |
| **Amrize Finance U.S. LLC**  |  |  |
| 4.700% due 04/07/2028  | 4400 | 4455 |
| 4.950% due 04/07/2030  | 2000 | 2046 |
| 5.400% due 04/07/2035  | 1000 | 1032 |
| **Anglo American Capital PLC** <br>5.750% due 04/05/2034 | 5400 | 5676 |
| **AP Moller - Maersk AS** <br>5.875% due 09/14/2033 | 1000 | 1065 |
| **APA Corp.**  |  |  |
| 6.100% due 02/15/2035  | 2700 | 2777 |
| 6.750% due 02/15/2055  | 2000 | 1997 |
| **AppLovin Corp.**  |  |  |
| 5.125% due 12/01/2029  | 2600 | 2668 |
| 5.375% due 12/01/2031  | 900 | 935 |
| **Aptiv Swiss Holdings Ltd.** <br>5.150% due 09/13/2034 | 2000 | 2019 |
| **Arcos Dorados BV** <br>6.375% due 01/29/2032 | 3100 | 3289 |
| **AS Mileage Plan IP Ltd.** <br>5.021% due 10/20/2029 | 4000 | 4035 |
| **Ashtead Capital, Inc.** <br>5.800% due 04/15/2034 | 7500 | 7868 |
| **AstraZeneca PLC** <br>6.450% due 09/15/2037 | 700 | 799 |
| **Atlassian Corp.** <br>5.250% due 05/15/2029 | 2400 | 2470 |
| **Aurizon Network Pty. Ltd.** <br>3.125% due 06/01/2026 | 700 | 825 |
| **Bacardi Ltd./Bacardi-Martini BV**  |  |  |
| 5.250% due 01/15/2029  | $2000 | 2040 |
| 5.400% due 06/15/2033  | 200 | 203 |
| **Bacardi-Martini BV** <br>6.000% due 02/01/2035 | 4000 | 4155 |
| **BAE Systems PLC** <br>5.125% due 03/26/2029 | 3470 | 3571 |
| **BAT Capital Corp.**  |  |  |
| 5.625% due 08/15/2035  | 2100 | 2189 |
| 6.343% due 08/02/2030  | 1100 | 1190 |
| **Baxter International, Inc.** <br>5.650% due 12/15/2035 | 7300 | 7390 |
| **Bayer U.S. Finance LLC**  |  |  |
| 6.500% due 11/21/2033  | 6300 | 6823 |
| 6.875% due 11/21/2053  | 1300 | 1409 |
| **Becton Dickinson & Co.**  |  |  |
| 1.957% due 02/11/2031  | 1300 | 1156 |
| 4.874% due 02/08/2029  | 801 | 818 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 24802 | 26226 |
| **BMW U.S. Capital LLC** <br>4.750% due 03/21/2028 | 3500 | 3552 |
| **Boeing Co.**  |  |  |
| 2.196% due 02/04/2026  | 1500 | 1497 |
| 2.250% due 06/15/2026  | 300 | 297 |
| 2.700% due 02/01/2027  | 1200 | 1183 |
| 2.800% due 03/01/2027  | 800 | 788 |
| 2.950% due 02/01/2030  | 600 | 569 |
| 3.200% due 03/01/2029  | 1400 | 1358 |
| 3.250% due 02/01/2028  | 100 | 98 |
| 3.950% due 08/01/2059  | 1900 | 1350 |
| 5.040% due 05/01/2027  | 1013 | 1024 |
| 5.150% due 05/01/2030  | 1200 | 1233 |
| 5.705% due 05/01/2040  | 3800 | 3882 |
| 5.930% due 05/01/2060  | 500 | 491 |
| 6.298% due 05/01/2029  | 3000 | 3185 |
| 6.388% due 05/01/2031  | 2500 | 2714 |
| 7.008% due 05/01/2064  | 998 | 1138 |
| **Booz Allen Hamilton, Inc.** <br>3.875% due 09/01/2028 | 2500 | 2455 |
| **Broadcom Corp./Broadcom Cayman Finance Ltd.** <br>3.500% due 01/15/2028 | 1400 | 1389 |
| **Broadcom, Inc.**  |  |  |
| 1.950% due 02/15/2028  | 300 | 288 |
| 2.600% due 02/15/2033  | 2000 | 1765 |
| 3.187% due 11/15/2036  | 2000 | 1697 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.150% due 04/15/2032  | 500 | 490 |
| 4.350% due 02/15/2030  | 3100 | 3121 |
| 4.926% due 05/15/2037  | 1600 | 1580 |
| 5.050% due 07/12/2029  | 930 | 958 |
| 5.050% due 04/15/2030  | 3200 | 3303 |
| **Cameron LNG LLC** <br>2.902% due 07/15/2031 | 2000 | 1852 |
| **Canadian Natural Resources Ltd.**  |  |  |
| 5.000% due 12/15/2029  | 4200 | 4309 |
| 6.450% due 06/30/2033  | 1000 | 1079 |
| **Canadian Pacific Railway Co.**  |  |  |
| 4.800% due 03/30/2030  | 1500 | 1535 |
| 6.125% due 09/15/2115  | 500 | 499 |
| **Carnival Corp.** <br>4.000% due 08/01/2028 | 2200 | 2169 |
| **CDW LLC/CDW Finance Corp.**  |  |  |
| 3.250% due 02/15/2029  | 1100 | 1060 |
| 3.276% due 12/01/2028  | 2300 | 2235 |
| 3.569% due 12/01/2031  | 700 | 652 |
| 5.550% due 08/22/2034  | 500 | 510 |
| **Cenovus Energy, Inc.** <br>5.400% due 03/20/2036 | 7300 | 7294 |
| **Centene Corp.**  |  |  |
| 2.450% due 07/15/2028  | 6915 | 6480 |
| 2.500% due 03/01/2031  | 2200 | 1901 |
| 3.000% due 10/15/2030  | 1700 | 1522 |
| 3.375% due 02/15/2030  | 1983 | 1828 |
| 4.625% due 12/15/2029  | 1000 | 971 |
| **CF Industries, Inc.** <br>5.300% due 11/26/2035 | 5000 | 4985 |
| **CGI, Inc.**  |  |  |
| 1.450% due 09/14/2026  | 900 | 885 |
| 4.950% due 03/14/2030  | 5900 | 5985 |
| **Charter Communications Operating LLC/Charter Communications Operating Capital**  |  |  |
| 3.850% due 04/01/2061  | 1400 | 836 |
| 3.950% due 06/30/2062  | 1300 | 783 |
| 4.400% due 12/01/2061  | 6000 | 3928 |
| 5.500% due 04/01/2063  | 1300 | 1025 |
| 5.850% due 12/01/2035  | 5900 | 5888 |
| 6.100% due 06/01/2029  | 1000 | 1044 |
| 6.550% due 06/01/2034  | 500 | 526 |
| 6.650% due 02/01/2034  | 3000 | 3162 |
| **Cheniere Corpus Christi Holdings LLC** <br>3.700% due 11/15/2029 | 1100 | 1075 |
| **Cheniere Energy Partners LP**  |  |  |
| 3.250% due 01/31/2032  | 1200 | 1106 |
| 5.550% due 10/30/2035  | 5800 | 5933 |
| 5.950% due 06/30/2033  | 200 | 212 |
| **Cheniere Energy, Inc.** <br>4.625% due 10/15/2028 | 1200 | 1198 |
| **Chevron Phillips Chemical Co. LLC/Chevron Phillips Chemical Co. LP** <br>4.750% due 05/15/2030 | 6500 | 6588 |
| **Choice Hotels International, Inc.** <br>3.700% due 12/01/2029 | 850 | 827 |
| **Cigna Group**  |  |  |
| 4.375% due 10/15/2028  | 2000 | 2019 |
| 4.500% due 09/15/2030  | 1500 | 1511 |
| 5.250% due 01/15/2036  | 5000 | 5094 |
| **CIMIC Finance USA Pty. Ltd.** <br>7.000% due 03/25/2034 | 2000 | 2177 |
| **CommonSpirit Health**  |  |  |
| 4.975% due 09/01/2035  | 4900 | 4844 |
| 6.073% due 11/01/2027  | 100 | 103 |
| **Constellation Brands, Inc.**  |  |  |
| 2.250% due 08/01/2031  | 1200 | 1065 |
| 4.800% due 05/01/2030  | 1600 | 1627 |
| **Constellation Pharmaceutical, Inc.** <br>5.550% due 07/01/2033 «(i) | 3455 | 3591 |
| **Cornell University** <br>4.169% due 06/15/2030 | 2100 | 2111 |
| **Coterra Energy, Inc.**  |  |  |
| 5.400% due 02/15/2035  | 2500 | 2538 |
| 5.600% due 03/15/2034  | 700 | 722 |
| **Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC** <br>5.600% due 01/15/2031 | 5000 | 5050 |
| **Cox Communications, Inc.**  |  |  |
| 5.450% due 09/01/2034  | 3600 | 3543 |
| 5.700% due 06/15/2033  | 200 | 202 |
| 5.800% due 12/15/2053  | 2600 | 2227 |
| **CRH SMW Finance DAC** <br>5.125% due 01/09/2030 | 1000 | 1031 |
| **CVS Health Corp.**  |  |  |
| 5.125% due 02/21/2030  | 5000 | 5138 |
| 5.450% due 09/15/2035  | 5000 | 5120 |
| 5.700% due 06/01/2034  | 2200 | 2306 |
| 5.875% due 06/01/2053  | 600 | 583 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.000% due 06/01/2044  | 2300 | 2313 |
| 6.000% due 06/01/2063  | 1700 | 1649 |
| **Czechoslovak Group AS** <br>5.250% due 01/10/2031 | 2000 | 2438 |
| **Daimler Truck Finance North America LLC**  |  |  |
| 5.000% due 10/12/2032  | $3000 | 3034 |
| 5.400% due 09/20/2028  | 1700 | 1755 |
| **Darden Restaurants, Inc.** <br>4.550% due 10/15/2029 | 3700 | 3740 |
| **Delta Air Lines, Inc./SkyMiles IP Ltd.** <br>4.750% due 10/20/2028 | 1000 | 1006 |
| **Devon Energy Corp.**  |  |  |
| 5.200% due 09/15/2034  | 4700 | 4681 |
| 5.750% due 09/15/2054  | 1300 | 1195 |
| **Diamondback Energy, Inc.**  |  |  |
| 5.400% due 04/18/2034  | 1100 | 1127 |
| 5.550% due 04/01/2035  | 5600 | 5758 |
| 5.900% due 04/18/2064  | 3000 | 2835 |
| **DT Midstream, Inc.** <br>5.800% due 12/15/2034 | 2700 | 2804 |
| **Eastern Energy Gas Holdings LLC**  |  |  |
| 5.650% due 10/15/2054  | 1100 | 1065 |
| 5.800% due 01/15/2035  | 3000 | 3170 |
| 6.200% due 01/15/2055  | 1700 | 1765 |
| **Ecolab, Inc.** <br>5.000% due 09/01/2035 | 2900 | 2958 |
| **Ecopetrol SA**  |  |  |
| 8.375% due 01/19/2036  | 1100 | 1133 |
| 8.875% due 01/13/2033  | 500 | 534 |
| **Elevance Health, Inc.**  |  |  |
| 5.150% due 06/15/2029  | 1000 | 1032 |
| 5.200% due 02/15/2035  | 1800 | 1840 |
| **Embraer Netherlands Finance BV** <br>5.980% due 02/11/2035 | 3500 | 3721 |
| **EMD Finance LLC** <br>4.375% due 10/15/2030 | 5950 | 5971 |
| **Enbridge, Inc.**  |  |  |
| 5.625% due 04/05/2034  | 6500 | 6799 |
| 5.900% due 11/15/2026  | 1000 | 1015 |
| 7.375% due 03/15/2055 •  | 2400 | 2542 |
| 7.625% due 01/15/2083 •  | 100 | 109 |
| 8.250% due 01/15/2084 •  | 600 | 642 |
| **Energy Transfer LP**  |  |  |
| 3.900% due 07/15/2026  | 1100 | 1099 |
| 4.400% due 03/15/2027  | 1200 | 1204 |
| 4.750% due 01/15/2026  | 200 | 200 |
| 5.350% due 05/15/2045  | 1000 | 905 |
| 5.400% due 10/01/2047  | 200 | 180 |
| 5.500% due 06/01/2027  | 1400 | 1423 |
| 5.550% due 05/15/2034  | 2900 | 2985 |
| 5.700% due 04/01/2035  | 6500 | 6732 |
| 5.950% due 05/15/2054  | 1000 | 950 |
| 6.000% due 06/15/2048  | 375 | 364 |
| 6.050% due 12/01/2026  | 800 | 813 |
| 7.500% due 07/01/2038  | 4000 | 4647 |
| **Eni SpA**  |  |  |
| 5.500% due 05/15/2034  | 3500 | 3609 |
| 5.750% due 05/19/2035  | 1800 | 1886 |
| 5.950% due 05/15/2054  | 4000 | 3970 |
| **Entergy Louisiana LLC**  |  |  |
| 4.000% due 03/15/2033  | 1200 | 1159 |
| 5.800% due 03/15/2055  | 1700 | 1715 |
| **Enterprise Products Operating LLC**  |  |  |
| 4.950% due 02/15/2035  | 2700 | 2732 |
| 5.200% due 01/15/2036  | 3900 | 3972 |
| **Essential Utilities, Inc.** <br>5.250% due 08/15/2035 | 3900 | 3985 |
| **Expand Energy Corp.**  |  |  |
| 4.750% due 02/01/2032  | 3000 | 2960 |
| 5.700% due 01/15/2035  | 1300 | 1346 |
| **Fiserv, Inc.** <br>4.550% due 02/15/2031 | 1200 | 1188 |
| **Flex Intermediate Holdco LLC** <br>3.363% due 06/30/2031 | 2300 | 2120 |
| **Flex Ltd.** <br>5.250% due 01/15/2032 | 2300 | 2345 |
| **Florida Gas Transmission Co. LLC** <br>5.750% due 07/15/2035 | 3800 | 3954 |
| **Flutter Treasury DAC**  |  |  |
| 5.000% due 04/29/2029  | 1000 | 1215 |
| 6.375% due 04/29/2029  | $300 | 311 |
| **Foundry JV Holdco LLC**  |  |  |
| 5.875% due 01/25/2034  | 3000 | 3084 |
| 5.900% due 01/25/2030  | 500 | 523 |
| **Fox Corp.** <br>4.709% due 01/25/2029 | 2000 | 2026 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Freeport-McMoRan, Inc.** <br>5.450% due 03/15/2043 | 200 | 194 |
| **Gartner, Inc.** <br>4.950% due 03/20/2031 | 3800 | 3826 |
| **Glencore Funding LLC** <br>5.400% due 05/08/2028 | 500 | 513 |
| **Global Payments, Inc.**  |  |  |
| 4.875% due 11/15/2030  | 1200 | 1202 |
| 5.200% due 11/15/2032  | 2000 | 2002 |
| 5.550% due 11/15/2035  | 1800 | 1790 |
| **Grupo Nutresa SA** <br>8.000% due 05/12/2030 | 7550 | 8166 |
| **Gulfstream Natural Gas System LLC** <br>5.600% due 07/23/2035 | 4900 | 5034 |
| **Haleon U.S. Capital LLC**  |  |  |
| 3.375% due 03/24/2027  | 2250 | 2234 |
| 3.375% due 03/24/2029  | 1300 | 1271 |
| **Harbour Energy PLC** <br>6.327% due 04/01/2035 | 5000 | 5066 |
| **Hasbro, Inc.** <br>6.050% due 05/14/2034 | 2000 | 2122 |
| **HCA, Inc.**  |  |  |
| 4.375% due 03/15/2042  | 700 | 600 |
| 5.200% due 06/01/2028  | 2000 | 2050 |
| 5.250% due 03/01/2030  | 1000 | 1033 |
| 5.250% due 06/15/2049  | 400 | 362 |
| 5.450% due 09/15/2034  | 8200 | 8444 |
| 5.500% due 03/01/2032  | 1200 | 1251 |
| 5.625% due 09/01/2028  | 1221 | 1259 |
| 5.750% due 03/01/2035  | 2100 | 2205 |
| **Hewlett Packard Enterprise Co.** <br>4.050% due 09/15/2027 | 1100 | 1101 |
| **Hexcel Corp.** <br>5.875% due 02/26/2035 | 600 | 629 |
| **HF Sinclair Corp.** <br>5.750% due 01/15/2031 | 1100 | 1137 |
| **Honeywell International, Inc.** <br>3.750% due 03/01/2036 | 300 | 348 |
| **Huntington Ingalls Industries, Inc.** <br>5.353% due 01/15/2030 | $2100 | 2171 |
| **Hyatt Hotels Corp.**  |  |  |
| 5.050% due 03/30/2028  | 2800 | 2853 |
| 5.250% due 06/30/2029  | 1900 | 1956 |
| 5.400% due 12/15/2035  | 3800 | 3810 |
| 5.750% due 03/30/2032  | 3200 | 3354 |
| **Hyundai Capital America**  |  |  |
| 4.718% (SOFRRATE + 0.990%) due 03/25/2027 ~  | 2600 | 2611 |
| 4.765% (SOFRRATE + 1.040%) due 03/19/2027 ~  | 4400 | 4416 |
| 4.850% due 03/25/2027  | 3000 | 3028 |
| 5.150% due 03/27/2030  | 2300 | 2358 |
| 5.500% due 03/30/2026  | 400 | 401 |
| 5.680% due 06/26/2028  | 300 | 310 |
| **Icon Investments Six DAC** <br>5.809% due 05/08/2027 | 300 | 306 |
| **Imperial Brands Finance PLC**  |  |  |
| 3.500% due 07/26/2026  | 540 | 538 |
| 6.125% due 07/27/2027  | 200 | 206 |
| **Intel Corp.** <br>5.200% due 02/10/2033 (j) | 1500 | 1529 |
| **Japan Tobacco, Inc.**  |  |  |
| 5.250% due 06/15/2030  | 1900 | 1972 |
| 5.850% due 06/15/2035  | 3300 | 3524 |
| **JDE Peet's NV**  |  |  |
| 1.375% due 01/15/2027  | 2100 | 2035 |
| 2.250% due 09/24/2031  | 4700 | 4098 |
| **JetBlue Pass-Through Trust**  |  |  |
| 2.750% due 11/15/2033  | 622 | 560 |
| 4.000% due 05/15/2034  | 135 | 128 |
| **JT International Financial Services BV** <br>3.875% due 09/28/2028 | 2600 | 2586 |
| **Kinder Morgan, Inc.**  |  |  |
| 5.000% due 02/01/2029  | 1900 | 1945 |
| 5.150% due 06/01/2030  | 1300 | 1345 |
| 5.400% due 02/01/2034  | 1900 | 1962 |
| 5.550% due 06/01/2045  | 2600 | 2519 |
| 5.850% due 06/01/2035  | 1400 | 1481 |
| **Kraft Heinz Foods Co.**  |  |  |
| 5.200% due 03/15/2032  | 1900 | 1958 |
| 5.400% due 03/15/2035  | 1700 | 1747 |
| 6.875% due 01/26/2039  | 200 | 224 |
| **L3Harris Technologies, Inc.** <br>5.050% due 06/01/2029 | 2000 | 2057 |
| **Las Vegas Sands Corp.**  |  |  |
| 5.625% due 06/15/2028  | 1000 | 1026 |
| 6.000% due 08/15/2029  | 2400 | 2508 |
| 6.000% due 06/14/2030  | 2000 | 2099 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.200% due 08/15/2034  | 4400 | 4637 |
| **Leland Stanford Junior University** <br>4.679% due 03/01/2035 | 5500 | 5555 |
| **Lenovo Group Ltd.** <br>5.831% due 01/27/2028 | 400 | 413 |
| **LG Energy Solution Ltd.** <br>5.250% due 04/02/2028 | 1600 | 1631 |
| **LKQ Corp.** <br>5.750% due 06/15/2028 | 1000 | 1033 |
| **LYB International Finance III LLC** <br>6.150% due 05/15/2035 | 4500 | 4614 |
| **Marathon Petroleum Corp.** <br>5.700% due 03/01/2035 | 2800 | 2883 |
| **Marriott International, Inc.**  |  |  |
| 4.000% due 04/15/2028  | 500 | 501 |
| 4.500% due 10/15/2031  | 3400 | 3409 |
| 4.800% due 03/15/2030  | 1500 | 1532 |
| 5.250% due 10/15/2035  | 3100 | 3143 |
| 5.350% due 03/15/2035  | 5400 | 5560 |
| 5.450% due 09/15/2026  | 600 | 606 |
| 5.550% due 10/15/2028  | 300 | 312 |
| **Mars, Inc.** <br>4.800% due 03/01/2030 | 3500 | 3578 |
| **Marvell Technology, Inc.**  |  |  |
| 1.650% due 04/15/2026  | 100 | 99 |
| 2.450% due 04/15/2028  | 1100 | 1060 |
| 2.950% due 04/15/2031  | 1050 | 973 |
| 4.750% due 07/15/2030  | 800 | 811 |
| 5.450% due 07/15/2035  | 3000 | 3092 |
| **McDonald's Corp.** <br>6.300% due 10/15/2037 | 700 | 779 |
| **Mercedes-Benz Finance North America LLC**  |  |  |
| 4.750% due 08/01/2027  | 1100 | 1114 |
| 4.800% due 08/01/2029  | 1500 | 1527 |
| 4.900% due 11/15/2027  | 4200 | 4280 |
| **Meta Platforms, Inc.**  |  |  |
| 4.200% due 11/15/2030  | 2500 | 2506 |
| 4.600% due 11/15/2032  | 4600 | 4638 |
| **Micron Technology, Inc.**  |  |  |
| 5.300% due 01/15/2031  | 1200 | 1244 |
| 5.327% due 02/06/2029  | 1000 | 1031 |
| 5.650% due 11/01/2032  | 2200 | 2314 |
| 5.800% due 01/15/2035  | 3800 | 4007 |
| 6.050% due 11/01/2035  | 2800 | 2989 |
| **Mondelez International, Inc.** <br>4.625% due 07/03/2031 | 3400 | 2568 |
| **Motorola Solutions, Inc.**  |  |  |
| 4.600% due 05/23/2029  | $200 | 202 |
| 5.400% due 04/15/2034  | 400 | 413 |
| **MPLX LP**  |  |  |
| 4.000% due 03/15/2028  | 315 | 314 |
| 4.500% due 04/15/2038  | 800 | 730 |
| 4.950% due 09/01/2032  | 200 | 201 |
| 5.400% due 04/01/2035  | 2100 | 2116 |
| 5.400% due 09/15/2035  | 4000 | 4031 |
| 5.500% due 06/01/2034  | 3000 | 3062 |
| **MSCI, Inc.** <br>3.625% due 09/01/2030 | 2000 | 1912 |
| **National Football League** <br>5.480% due 10/05/2028 «(i) | 4000 | 4092 |
| **National Fuel Gas Co.** <br>5.950% due 03/15/2035 | 2400 | 2515 |
| **NetApp, Inc.** <br>5.700% due 03/17/2035 | 4200 | 4408 |
| **Novartis Capital Corp.** <br>3.700% due 09/21/2042 | 500 | 415 |
| **NTT Finance Corp.** <br>5.104% due 07/02/2027 | 300 | 305 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.**  |  |  |
| 2.650% due 02/15/2032  | 2700 | 2429 |
| 4.300% due 06/18/2029  | 300 | 301 |
| **Occidental Petroleum Corp.**  |  |  |
| 5.200% due 08/01/2029  | 900 | 923 |
| 5.550% due 10/01/2034 (j)  | 7300 | 7451 |
| 6.050% due 10/01/2054  | 1000 | 957 |
| 6.200% due 03/15/2040  | 2800 | 2856 |
| 6.625% due 09/01/2030  | 6000 | 6464 |
| 7.500% due 05/01/2031  | 500 | 563 |
| 8.500% due 07/15/2027  | 300 | 314 |
| 8.875% due 07/15/2030  | 2400 | 2783 |
| **Open Text Corp.** <br>6.900% due 12/01/2027 | 200 | 208 |
| **Oracle Corp.**  |  |  |
| 1.650% due 03/25/2026  | 200 | 199 |
| 4.200% due 09/27/2029  | 8995 | 8827 |
| 4.450% due 09/26/2030  | 1000 | 979 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.650% due 05/06/2030  | 3310 | 3282 |
| 4.700% due 09/27/2034  | 2000 | 1855 |
| 4.800% due 08/03/2028  | 2500 | 2513 |
| 5.200% due 09/26/2035  | 5000 | 4792 |
| 5.500% due 09/27/2064  | 1650 | 1318 |
| 6.100% due 09/26/2065  | 1200 | 1059 |
| 6.150% due 11/09/2029  | 500 | 522 |
| **ORLEN SA** <br>6.000% due 01/30/2035 | 4000 | 4222 |
| **Ovintiv, Inc.** <br>6.250% due 07/15/2033 | 4400 | 4670 |
| **Paramount Global**  |  |  |
| 2.900% due 01/15/2027  | 600 | 591 |
| 3.375% due 02/15/2028  | 300 | 291 |
| 3.700% due 06/01/2028  | 1275 | 1247 |
| 4.950% due 01/15/2031  | 800 | 770 |
| 6.875% due 04/30/2036  | 800 | 789 |
| 7.875% due 07/30/2030  | 200 | 216 |
| **Penske Truck Leasing Co. LP/PTL Finance Corp.** <br>5.350% due 01/12/2027 | 1500 | 1518 |
| **Petroleos Mexicanos** <br>6.700% due 02/16/2032 | 400 | 399 |
| **Pfizer, Inc.** <br>4.500% due 11/15/2032 | 1800 | 1805 |
| **Philip Morris International, Inc.**  |  |  |
| 1.750% due 11/01/2030  | 700 | 624 |
| 4.250% due 10/29/2032  | 3100 | 3052 |
| 4.375% due 04/30/2030  | 1100 | 1107 |
| 5.250% due 09/07/2028  | 1800 | 1860 |
| 5.250% due 02/13/2034  | 6000 | 6204 |
| **Plains All American Pipeline LP** <br>5.950% due 06/15/2035 | 2600 | 2709 |
| **POSCO** <br>4.875% due 01/23/2027 | 500 | 504 |
| **Providence St. Joseph Health Obligated Group** <br>2.532% due 10/01/2029 | 300 | 283 |
| **Quanta Services, Inc.** <br>4.300% due 08/09/2028 | 4100 | 4123 |
| **Repsol E&P Capital Markets U.S. LLC** <br>5.204% due 09/16/2030 | 4400 | 4464 |
| **Rio Tinto Finance USA PLC** <br>4.875% due 03/14/2030 | 1000 | 1028 |
| **Rolls-Royce PLC** <br>5.750% due 10/15/2027 | 1000 | 1026 |
| **Royal Caribbean Cruises Ltd.** <br>5.375% due 01/15/2036 | 7800 | 7836 |
| **Royalty Pharma PLC**  |  |  |
| 5.150% due 09/02/2029  | 400 | 411 |
| 5.200% due 09/25/2035  | 4800 | 4828 |
| **RTX Corp.**  |  |  |
| 5.750% due 01/15/2029  | 2200 | 2304 |
| 6.100% due 03/15/2034  | 2000 | 2189 |
| **S&P Global, Inc.** <br>4.250% due 01/15/2031 | 4100 | 4100 |
| **Sabine Pass Liquefaction LLC**  |  |  |
| 4.200% due 03/15/2028  | 2000 | 2004 |
| 4.500% due 05/15/2030  | 800 | 804 |
| **Santos Finance Ltd.**  |  |  |
| 3.649% due 04/29/2031  | 3048 | 2858 |
| 6.875% due 09/19/2033  | 4200 | 4603 |
| **SK Hynix, Inc.** <br>6.375% due 01/17/2028 | 400 | 418 |
| **Skyworks Solutions, Inc.** <br>1.800% due 06/01/2026 | 2200 | 2176 |
| **Smurfit Westrock Financing DAC** <br>5.185% due 01/15/2036 | 6600 | 6651 |
| **Snam SpA**  |  |  |
| 5.000% due 05/28/2030  | 1600 | 1633 |
| 5.750% due 05/28/2035  | 6900 | 7220 |
| **South Bow USA Infrastructure Holdings LLC**  |  |  |
| 5.026% due 10/01/2029  | 1600 | 1624 |
| 5.584% due 10/01/2034  | 1300 | 1314 |
| **Southern Co.** <br>3.750% due 09/15/2051 •  | 2200 | 2177 |
| **Spectra Energy Partners LP** <br>3.375% due 10/15/2026 | 400 | 398 |
| **Spirit Airlines Pass-Through Trust**  |  |  |
| 3.375% due 08/15/2031  | 420 | 396 |
| 4.100% due 10/01/2029  | 187 | 179 |
| **Stryker Corp.**  |  |  |
| 1.950% due 06/15/2030  | 1100 | 999 |
| 4.100% due 04/01/2043  | 500 | 425 |
| 4.850% due 12/08/2028  | 500 | 512 |
| **Sutter Health** <br>5.164% due 08/15/2033 | 200 | 206 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Synopsys, Inc.**  |  |  |
| 4.650% due 04/01/2028  | 1400 | 1420 |
| 4.850% due 04/01/2030  | 2900 | 2963 |
| **T-Mobile USA, Inc.**  |  |  |
| 2.400% due 03/15/2029  | 700 | 663 |
| 2.550% due 02/15/2031  | 3000 | 2742 |
| 2.875% due 02/15/2031  | 500 | 464 |
| 3.600% due 11/15/2060  | 1000 | 665 |
| 3.750% due 04/15/2027  | 600 | 598 |
| 3.875% due 04/15/2030  | 3000 | 2951 |
| 4.200% due 10/01/2029  | 5661 | 5672 |
| 4.850% due 01/15/2029  | 2103 | 2148 |
| 4.950% due 11/15/2035  | 2100 | 2089 |
| 5.125% due 05/15/2032  | 1100 | 1132 |
| 5.750% due 01/15/2034  | 4500 | 4776 |
| **Take-Two Interactive Software, Inc.** <br>5.400% due 06/12/2029 | 1000 | 1036 |
| **Tapestry, Inc.** <br>5.500% due 03/11/2035 | 10100 | 10332 |
| **Targa Resources Corp.**  |  |  |
| 4.200% due 02/01/2033  | 600 | 575 |
| 6.150% due 03/01/2029  | 1100 | 1158 |
| **TD SYNNEX Corp.**  |  |  |
| 2.375% due 08/09/2028  | 1000 | 953 |
| 5.300% due 10/10/2035  | 1500 | 1486 |
| 6.100% due 04/12/2034  | 4000 | 4229 |
| **Telefonica Emisiones SA** <br>4.103% due 03/08/2027 | 800 | 800 |
| **Tennessee Gas Pipeline Co. LLC** <br>7.625% due 04/01/2037 | 600 | 707 |
| **Thames Water Super Senior Issuer PLC** <br>9.750% due 10/10/2027 | 169 | 263 |
| **Time Warner Cable Enterprises LLC** <br>8.375% due 07/15/2033 | $3900 | 4508 |
| **Time Warner Cable LLC** <br>5.500% due 09/01/2041 | 6028 | 5300 |
| **TransCanada PipeLines Ltd.** <br>4.625% due 03/01/2034 | 600 | 585 |
| **Transcontinental Gas Pipe Line Co. LLC** <br>5.100% due 03/15/2036 | 3300 | 3324 |
| **Trustees of Princeton University** <br>4.647% due 07/01/2030 | 1600 | 1640 |
| **TSMC Arizona Corp.** <br>1.750% due 10/25/2026 | 300 | 295 |
| **Tyson Foods, Inc.** <br>5.700% due 03/15/2034 | 1400 | 1477 |
| **Uber Technologies, Inc.**  |  |  |
| 4.150% due 01/15/2031  | 1000 | 997 |
| 4.800% due 09/15/2034  | 2800 | 2801 |
| 5.350% due 09/15/2054  | 1000 | 954 |
| **UCB SA** <br>4.250% due 03/20/2030 | 1100 | 1334 |
| **United Airlines Pass-Through Trust**  |  |  |
| 2.700% due 11/01/2033  | $658 | 606 |
| 3.500% due 09/01/2031  | 586 | 567 |
| 5.450% due 08/15/2038  | 9269 | 9561 |
| 5.875% due 04/15/2029  | 850 | 872 |
| **United Airlines, Inc.** <br>4.375% due 04/15/2026 | 200 | 200 |
| **UnitedHealth Group, Inc.**  |  |  |
| 4.400% due 06/15/2028  | 1100 | 1112 |
| 4.500% due 04/15/2033  | 1500 | 1492 |
| 4.950% due 05/15/2062  | 400 | 347 |
| 5.150% due 07/15/2034  | 3600 | 3689 |
| 5.200% due 04/15/2063  | 700 | 627 |
| **UPMC** <br>5.035% due 05/15/2033 | 200 | 204 |
| **Var Energi ASA**  |  |  |
| 5.875% due 05/22/2030  | 1000 | 1042 |
| 7.500% due 01/15/2028  | 2500 | 2651 |
| 8.000% due 11/15/2032  | 3326 | 3812 |
| **Veralto Corp.** <br>5.500% due 09/18/2026 | 3250 | 3279 |
| **VeriSign, Inc.** <br>2.700% due 06/15/2031 | 300 | 273 |
| **VF Corp.** <br>0.625% due 02/25/2032 | 1100 | 1027 |
| **Viper Energy Partners LLC** <br>5.700% due 08/01/2035 | $2100 | 2144 |
| **VMware LLC**  |  |  |
| 2.200% due 08/15/2031  | 2250 | 2000 |
| 4.700% due 05/15/2030  | 2147 | 2182 |
| **Volkswagen Group of America Finance LLC**  |  |  |
| 4.450% due 09/11/2027  | 3000 | 3011 |
| 4.550% due 09/11/2028  | 3000 | 3018 |
| 4.555% (SOFRRATE + 0.830%) due 03/20/2026 ~  | 300 | 300 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.750% due 11/13/2028  | 1600 | 1617 |
| 4.850% due 08/15/2027  | 750 | 758 |
| 4.900% due 08/14/2026  | 600 | 603 |
| 4.950% due 03/25/2027  | 1250 | 1261 |
| 5.050% due 03/27/2028  | 1250 | 1270 |
| 5.250% due 03/22/2029  | 1900 | 1943 |
| 5.350% due 03/27/2030  | 1800 | 1850 |
| 5.650% due 09/12/2028  | 400 | 413 |
| 5.700% due 09/12/2026  | 400 | 404 |
| **Volkswagen International Finance NV** <br>7.875% due 09/06/2032 •(f) | 3000 | 4071 |
| **Warnermedia Holdings, Inc.**  |  |  |
| 3.755% due 03/15/2027  | $253 | 252 |
| 4.279% due 03/15/2032  | 5255 | 4620 |
| **Weir Group, Inc.** <br>5.350% due 05/06/2030 | 3300 | 3392 |
| **Western Midstream Operating LP**  |  |  |
| 5.500% due 12/15/2035  | 5000 | 4975 |
| 6.350% due 01/15/2029  | 2200 | 2316 |
| **Westinghouse Air Brake Technologies Corp.**  |  |  |
| 3.450% due 11/15/2026  | 400 | 398 |
| 4.700% due 09/15/2028  | 100 | 101 |
| **Whistler Pipeline LLC** <br>5.700% due 09/30/2031 | 1600 | 1663 |
| **Williams Cos., Inc.**  |  |  |
| 5.150% due 03/15/2034  | 2000 | 2036 |
| 5.300% due 09/30/2035  | 3100 | 3155 |
| 5.400% due 03/02/2026  | 700 | 702 |
| 8.750% due 03/15/2032  | 200 | 243 |
| **Woodside Finance Ltd.** <br>5.400% due 05/19/2030 | 3300 | 3389 |
| **Workday, Inc.** <br>3.800% due 04/01/2032 | 300 | 287 |
|  |  | 989016 |
| **UTILITIES 9.1%**  |  |  |
| **AEP Texas, Inc.**  |  |  |
| 3.800% due 10/01/2047  | 300 | 223 |
| 5.400% due 06/01/2033  | 100 | 104 |
| 5.700% due 05/15/2034  | 2500 | 2612 |
| **AES Corp.**  |  |  |
| 3.950% due 07/15/2030  | 4900 | 4790 |
| 5.450% due 06/01/2028  | 700 | 716 |
| 5.800% due 03/15/2032  | 5100 | 5233 |
| **Ameren Corp.** <br>5.700% due 12/01/2026 | 800 | 811 |
| **Ameren Missouri Securitization Funding I LLC** <br>4.850% due 10/01/2041 | 2890 | 2916 |
| **American Electric Power Co., Inc.** <br>6.050% due 03/15/2056 •  | 4100 | 4030 |
| **Appalachian Power Co.** <br>5.650% due 04/01/2034 | 1100 | 1153 |
| **Arizona Public Service Co.**  |  |  |
| 5.500% due 09/01/2035  | 1000 | 1027 |
| 5.700% due 08/15/2034  | 200 | 210 |
| **AT&T, Inc.**  |  |  |
| 1.650% due 02/01/2028  | 4900 | 4672 |
| 2.300% due 06/01/2027  | 340 | 332 |
| 3.650% due 09/15/2059  | 1800 | 1188 |
| 3.800% due 12/01/2057  | 100 | 69 |
| 4.350% due 03/01/2029  | 200 | 201 |
| 5.375% due 08/15/2035  | 2000 | 2050 |
| **Black Hills Corp.**  |  |  |
| 3.950% due 01/15/2026  | 400 | 400 |
| 6.150% due 05/15/2034  | 600 | 644 |
| **BP Capital Markets PLC**  |  |  |
| 6.125% due 03/18/2035 •(f)  | 3300 | 3405 |
| 6.450% due 12/01/2033 •(f)  | 1800 | 1918 |
| **Brooklyn Union Gas Co.** <br>6.388% due 09/15/2033 | 4600 | 4968 |
| **Capital Power U.S. Holdings, Inc.** <br>6.189% due 06/01/2035 | 5400 | 5654 |
| **Chile Electricity Lux MPC II SARL** <br>5.580% due 10/20/2035 | 4888 | 5016 |
| **Cleco Power LLC** <br>5.300% due 01/15/2036 | 5500 | 5557 |
| **Colbun SA** <br>5.375% due 09/11/2035 | 3100 | 3112 |
| **Columbia Pipelines Holding Co. LLC** <br>5.097% due 10/01/2031 | 1200 | 1223 |
| **Columbia Pipelines Operating Co. LLC**  |  |  |
| 5.439% due 02/15/2035  | 3600 | 3684 |
| 5.927% due 08/15/2030  | 100 | 106 |
| **Connecticut Light & Power Co.** <br>4.950% due 01/15/2030 | 2000 | 2053 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Constellation Energy Generation LLC** <br>6.125% due 01/15/2034 | 1600 | 1735 |
| **Consumers Energy Co.** <br>4.200% due 09/01/2052 | 200 | 161 |
| **Dominion Energy South Carolina, Inc.** <br>5.300% due 01/15/2035 | 4000 | 4145 |
| **Dominion Energy, Inc.**  |  |  |
| 5.450% due 03/15/2035  | 2100 | 2153 |
| 7.000% due 06/01/2054 •  | 2300 | 2499 |
| **Duke Energy Carolinas LLC**  |  |  |
| 2.450% due 02/01/2030  | 1000 | 939 |
| 3.550% due 03/15/2052  | 600 | 434 |
| 6.100% due 06/01/2037  | 100 | 108 |
| **Duke Energy Florida LLC** <br>4.850% due 12/01/2035 | 3000 | 2988 |
| **Duke Energy Progress LLC** <br>5.050% due 03/15/2035 | 3000 | 3052 |
| **Edison International**  |  |  |
| 4.125% due 03/15/2028  | 5000 | 4947 |
| 5.250% due 03/15/2032  | 1900 | 1902 |
| 5.450% due 06/15/2029  | 1500 | 1528 |
| 6.250% due 03/15/2030  | 3550 | 3714 |
| 7.875% due 06/15/2054 •  | 1300 | 1366 |
| **Electricite de France SA** <br>6.375% due 01/13/2055 | 3400 | 3558 |
| **Enel Finance International NV**  |  |  |
| 3.625% due 05/25/2027  | 325 | 323 |
| 4.125% due 09/30/2028  | 1100 | 1098 |
| 5.125% due 06/26/2029  | 3400 | 3491 |
| 7.500% due 10/14/2032  | 700 | 808 |
| 7.750% due 10/14/2052  | 950 | 1155 |
| **Entergy Texas, Inc.** <br>5.250% due 04/15/2035 | 1480 | 1521 |
| **Evergy Metro, Inc.** <br>5.125% due 08/15/2035 | 3500 | 3538 |
| **Eversource Energy**  |  |  |
| 4.450% due 12/15/2030  | 4100 | 4079 |
| 5.000% due 01/01/2027  | 400 | 404 |
| 5.450% due 03/01/2028  | 600 | 615 |
| **Florida Power & Light Co.** <br>5.100% due 04/01/2033 | 500 | 519 |
| **IPALCO Enterprises, Inc.** <br>4.250% due 05/01/2030 | 2100 | 2055 |
| **Israel Electric Corp. Ltd.** <br>3.750% due 02/22/2032 | 1900 | 1783 |
| **Massachusetts Electric Co.** <br>1.729% due 11/24/2030 | 400 | 351 |
| **MidAmerican Energy Co.**  |  |  |
| 4.250% due 07/15/2049  | 1050 | 863 |
| 5.300% due 02/01/2055  | 600 | 571 |
| 5.350% due 01/15/2034  | 1000 | 1046 |
| **Narragansett Electric Co.** <br>5.350% due 05/01/2034 | 1300 | 1343 |
| **National Grid PLC**  |  |  |
| 5.418% due 01/11/2034  | 2000 | 2072 |
| 5.602% due 06/12/2028  | 400 | 413 |
| **NBN Co. Ltd.**  |  |  |
| 2.625% due 05/05/2031  | 500 | 460 |
| 4.250% due 10/01/2029  | 1900 | 1903 |
| 5.750% due 10/06/2028  | 1300 | 1358 |
| **New York State Electric & Gas Corp.** <br>5.050% due 08/15/2035 | 2700 | 2723 |
| **NextEra Energy Capital Holdings, Inc.** <br>1.900% due 06/15/2028 | 100 | 95 |
| **NGPL PipeCo LLC** <br>3.250% due 07/15/2031 | 300 | 276 |
| **Niagara Energy SAC** <br>5.746% due 10/03/2034 | 2900 | 2960 |
| **Niagara Mohawk Power Corp.**  |  |  |
| 2.759% due 01/10/2032  | 600 | 539 |
| 5.290% due 01/17/2034  | 500 | 509 |
| **NorthWestern Corp.** <br>5.073% due 03/21/2030 | 3000 | 3080 |
| **NSTAR Electric Co.** <br>4.850% due 03/01/2030 | 2300 | 2350 |
| **NYSEG Storm Funding LLC** <br>4.713% due 05/01/2029 | 3013 | 3049 |
| **Oglethorpe Power Corp.** <br>5.800% due 06/01/2054 | 2200 | 2159 |
| **Oncor Electric Delivery Co. LLC** <br>5.350% due 04/01/2035 | 2000 | 2063 |
| **ONEOK, Inc.**  |  |  |
| 4.400% due 10/15/2029  | 2000 | 2010 |
| 4.950% due 10/15/2032  | 3900 | 3919 |
| 5.050% due 11/01/2034  | 6000 | 5949 |
| 5.375% due 06/01/2029  | 50 | 52 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.650% due 11/01/2028  | 1613 | 1676 |
| 5.850% due 11/01/2064  | 1600 | 1503 |
| 6.050% due 09/01/2033  | 2400 | 2558 |
| 6.625% due 09/01/2053  | 3500 | 3669 |
| **Pacific Gas & Electric Co.**  |  |  |
| 2.950% due 03/01/2026  | 200 | 200 |
| 3.300% due 12/01/2027  | 800 | 788 |
| 4.000% due 12/01/2046  | 1100 | 828 |
| 5.050% due 10/15/2032  | 7700 | 7746 |
| 5.700% due 03/01/2035  | 2000 | 2057 |
| 5.800% due 05/15/2034  | 1400 | 1455 |
| 6.000% due 08/15/2035  | 6500 | 6836 |
| 6.100% due 01/15/2029  | 3265 | 3419 |
| 6.150% due 01/15/2033  | 400 | 425 |
| 6.400% due 06/15/2033  | 400 | 432 |
| 6.750% due 01/15/2053  | 1400 | 1497 |
| 6.950% due 03/15/2034  | 1500 | 1669 |
| **PacifiCorp**  |  |  |
| 2.700% due 09/15/2030  | 100 | 92 |
| 5.800% due 01/15/2055  | 1900 | 1775 |
| **Piedmont Natural Gas Co., Inc.** <br>5.100% due 02/15/2035 | 2500 | 2543 |
| **Pinnacle West Capital Corp.**  |  |  |
| 4.550% (SOFRRATE + 0.820%) due 06/10/2026 ~  | 500 | 501 |
| 4.900% due 05/15/2028  | 2300 | 2343 |
| **Plains All American Pipeline LP/PAA Finance Corp.**  |  |  |
| 4.700% due 01/15/2031  | 2900 | 2918 |
| 5.600% due 01/15/2036  | 3000 | 3036 |
| 5.700% due 09/15/2034  | 3300 | 3408 |
| **PPL Capital Funding, Inc.** <br>5.250% due 09/01/2034 | 600 | 615 |
| **Public Service Co. of Colorado** <br>5.350% due 05/15/2034 | 3400 | 3495 |
| **Puget Energy, Inc.** <br>5.725% due 03/15/2035 | 5700 | 5866 |
| **Raizen Fuels Finance SA**  |  |  |
| 5.700% due 01/17/2035  | 1900 | 1455 |
| 6.250% due 07/08/2032  | 1000 | 841 |
| 6.700% due 02/25/2037  | 1700 | 1376 |
| **San Diego Gas & Electric Co.**  |  |  |
| 5.400% due 04/15/2035  | 5100 | 5282 |
| 6.000% due 06/01/2026  | 3000 | 3022 |
| **Sempra** <br>6.875% due 10/01/2054 •  | 1000 | 1032 |
| **Shell Finance U.S., Inc.** <br>4.750% due 01/06/2036 | 5000 | 4995 |
| **Sierra Pacific Power Co.**  |  |  |
| 5.900% due 03/15/2054  | 700 | 701 |
| 6.200% due 12/15/2055 •  | 900 | 892 |
| **Southern California Edison Co.**  |  |  |
| 2.750% due 02/01/2032  | 300 | 268 |
| 2.850% due 08/01/2029  | 1750 | 1660 |
| 2.950% due 02/01/2051  | 300 | 183 |
| 4.650% due 10/01/2043  | 350 | 298 |
| 4.900% due 06/01/2026  | 300 | 300 |
| 5.450% due 03/01/2035  | 1000 | 1014 |
| 5.650% due 10/01/2028  | 2100 | 2176 |
| **Southern California Gas Co.**  |  |  |
| 2.550% due 02/01/2030  | 1900 | 1792 |
| 2.600% due 06/15/2026  | 200 | 199 |
| 5.200% due 06/01/2033  | 400 | 414 |
| **Southern Co. Gas Capital Corp.** <br>3.950% due 10/01/2046 | 500 | 393 |
| **Southwestern Public Service Co.** <br>4.400% due 11/15/2048 | 460 | 385 |
| **Spire Missouri, Inc.** <br>5.150% due 08/15/2034 | 500 | 514 |
| **Swepco Storm Recovery Funding LLC** <br>4.880% due 09/01/2041 | 2901 | 2934 |
| **System Energy Resources, Inc.** <br>5.300% due 12/15/2034 | 4100 | 4146 |
| **Trans-Allegheny Interstate Line Co.** <br>5.000% due 01/15/2031 | 1000 | 1028 |
| **Verizon Communications, Inc.**  |  |  |
| 3.000% due 11/20/2060  | 400 | 234 |
| 4.780% due 02/15/2035  | 302 | 297 |
| 5.000% due 01/15/2036  | 3400 | 3372 |
| 5.401% due 07/02/2037  | 2514 | 2542 |
| **Virginia Electric & Power Co.**  |  |  |
| 4.900% due 09/15/2035  | 3000 | 2987 |
| 5.050% due 08/15/2034  | 200 | 203 |
| **Virginia Power Fuel Securitization LLC** <br>4.877% due 05/01/2033 | 1800 | 1842 |
| **Vistra Operations Co. LLC**  |  |  |
| 4.600% due 10/15/2030  | 1800 | 1802 |
| 6.000% due 04/15/2034  | 900 | 949 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.950% due 10/15/2033  | 2700 | 3017 |
| **WEC Energy Group, Inc.**  |  |  |
| 4.750% due 01/09/2026  | 300 | 300 |
| 5.600% due 09/12/2026  | 376 | 380 |
| **Wintershall Dea Finance BV** <br>1.823% due 09/25/2031 | 1000 | 1042 |
| **Wisconsin Electric Power Co.** <br>4.150% due 10/15/2030 | $1200 | 1200 |
| **Xcel Energy, Inc.**  |  |  |
| 4.750% due 03/21/2028  | 800 | 811 |
| 5.500% due 03/15/2034  | 300 | 310 |
| 5.600% due 04/15/2035  | 5000 | 5182 |
|  |  | 295928 |
| Total Corporate Bonds & Notes (Cost $2,188,749) |  | 2241698 |
| **MUNICIPAL BONDS & NOTES 0.2%**  |  |  |
| **ARIZONA 0.2%**  |  |  |
| **Maricopa County, Arizona Industrial Development Authority Revenue Notes, Series 2024** <br>7.375% due 10/01/2029 | 4500 | 4723 |
| **LOUISIANA 0.0%**  |  |  |
| **Louisiana Local Government Environmental Facilities & Community Development Auth Revenue Bonds, Series 2023** <br>5.048% due 12/01/2034 | 400 | 414 |
| **TEXAS 0.0%**  |  |  |
| **Texas Natural Gas Securitization Finance Corp. Revenue Bonds, Series 2023** <br>5.102% due 04/01/2035 | 335 | 344 |
| Total Municipal Bonds & Notes (Cost $5,235) |  | 5481 |
| **U.S. GOVERNMENT AGENCIES 6.9%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 5.500% due 02/01/2053 - 05/01/2053 | 664 | 676 |
| 6.000% due 04/01/2053 | 1074 | 1108 |
| **Federal Home Loan Mortgage Corp. REMICS**<br>5.074% due 02/25/2055 •  | 899 | 902 |
| **Federal National Mortgage Association**  |  |  |
| 5.500% due 11/01/2052 - 06/01/2053 | 2466 | 2508 |
| 6.000% due 03/01/2053 | 327 | 337 |
| 6.500% due 10/01/2053 | 1288 | 1340 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 4.000% due 02/01/2056 | 69200 | 65604 |
| 4.500% due 01/01/2056 - 02/01/2056 | 82000 | 80051 |
| 6.000% due 02/01/2056 - 03/01/2056 | 67300 | 69074 |
| Total U.S. Government Agencies (Cost $220,757) |  | 221600 |
| **U.S. TREASURY OBLIGATIONS 18.6%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 3.000% due 02/15/2048 | 7300 | 5435 |
| 3.000% due 08/15/2048 | 17000 | 12592 |
| 3.125% due 05/15/2048 | 8500 | 6458 |
| 3.750% due 08/15/2041 | 68600 | 61847 |
| 4.125% due 08/15/2044 | 136510 | 125328 |
| 4.250% due 08/15/2054 | 57600 | 52095 |
| 4.375% due 08/15/2043 | 13330 | 12737 |
| 4.500% due 11/15/2054 | 12700 | 11983 |
| 4.625% due 11/15/2044 | 10800 | 10587 |
| 4.625% due 02/15/2055 | 41100 | 39600 |
| 4.625% due 11/15/2055 | 28700 | 27655 |
| 4.750% due 11/15/2043 | 5100 | 5102 |
| 4.750% due 11/15/2053 | 1234 | 1212 |
| 4.750% due 08/15/2055 | 36100 | 35502 |
| 4.875% due 08/15/2045 | 3104 | 3135 |
| **U.S. Treasury Inflation Protected Securities (e)** |  |  |
| 1.250% due 04/15/2028 (l) | 1954 | 1946 |
| 1.750% due 01/15/2034 (l) | 19808 | 19703 |
| 1.875% due 07/15/2034  | 415 | 417 |
| 2.125% due 04/15/2029 (l) | 34739 | 35480 |
| **U.S. Treasury Notes**  |  |  |
| 4.125% due 05/31/2032 (l)(n) | 14100 | 14288 |
| 4.250% due 08/15/2035 | 113012 | 113842 |
| **U.S. Treasury STRIPS**  |  |  |
| 0.000% due 02/15/2042 (a) | 3900 | 1768 |
| 0.000% due 05/15/2042 (a) | 6100 | 2723 |
| Total U.S. Treasury Obligations (Cost $615,107) |  | 601435 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 1.1%**  |  |  |
| **ATLX Trust** <br>3.850% due 04/25/2063 þ | 903 | 883 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Chase Home Lending Mortgage Trust** <br>3.250% due 08/25/2064 ~ | 6243 | 5579 |
| **Cross Mortgage Trust** <br>5.549% due 12/25/2069 ~ | 853 | 860 |
| **Ellington Financial Mortgage Trust** <br>5.726% due 01/25/2060 þ | 436 | 441 |
| **JP Morgan Seasoned Mortgage Trust** <br>4.377% due 01/25/2063 ~ | 897 | 864 |
| **Morgan Stanley Residential Mortgage Loan Trust** <br>4.000% due 06/25/2064 þ | 878 | 861 |
| **OBX Trust**  |  |  |
| 5.110% due 08/25/2062 þ  | 687 | 687 |
| 5.597% due 11/25/2064 þ  | 17004 | 17168 |
| **PRET Trust**  |  |  |
| 4.000% due 08/25/2064 þ  | 928 | 908 |
| 4.000% due 07/25/2069 þ  | 916 | 898 |
| **PRPM LLC**  |  |  |
| 3.750% due 04/25/2055 þ  | 939 | 919 |
| 4.000% due 11/25/2054 þ  | 874 | 859 |
| **PRPM Trust**  |  |  |
| 5.674% due 12/26/2069 þ  | 775 | 781 |
| 5.802% due 11/25/2069 þ  | 758 | 765 |
| **Santander Mortgage Asset Receivable Trust** <br>5.545% due 01/25/2065 þ | 866 | 873 |
| **Towd Point Mortgage Trust**  |  |  |
| 4.606% due 10/25/2064 ~  | 2452 | 2462 |
| 5.725% due 11/25/2064 þ  | 1069 | 1079 |
| Total Non-Agency Mortgage-Backed Securities (Cost $36,603) |  | 36887 |
| **ASSET-BACKED SECURITIES 5.2%**  |  |  |
| **AUTOMOBILE SEQUENTIAL 0.2%**  |  |  |
| **BMW Vehicle Lease Trust**  |  |  |
| 4.430% due 06/26/2028  | 2000 | 2018 |
| 4.980% due 03/25/2027  | 551 | 553 |
| **Chase Auto Owner Trust** <br>5.680% due 01/25/2029 | 1784 | 1803 |
| **CPS Auto Receivables Trust** <br>4.910% due 06/15/2028 | 216 | 216 |
| **Ford Auto Securitization Trust** <br>5.053% due 07/15/2028 | 373 | 275 |
| **Ford Credit Auto Lease Trust** <br>4.720% due 06/15/2028 | $1000 | 1009 |
| **GM Financial Consumer Automobile Receivables Trust** <br>4.470% due 02/16/2028 | 199 | 199 |
| **Lendbuzz Securitization Trust** <br>5.100% due 10/15/2030 | 386 | 386 |
|  |  | 6459 |
| **CMBS OTHER 0.0%**  |  |  |
| **AREIT Trust** <br>5.847% due 08/17/2041 •  | 548 | 548 |
| **OTHER ABS 5.0%**  |  |  |
| **37 Capital CLO 4 Ltd.** <br>4.995% due 04/15/2035 •  | 1000 | 1000 |
| **522 Funding CLO Ltd.** <br>5.060% due 10/23/2034 •  | 500 | 500 |
| **AGL CLO 14 Ltd.** <br>5.000% due 12/02/2034 •  | 1200 | 1200 |
| **AMMC CLO 24 Ltd.** <br>5.084% due 01/20/2035 •  | 1000 | 1000 |
| **AMMC CLO 27 Ltd.** <br>4.964% due 01/20/2037 •  | 1500 | 1500 |
| **Anchorage Capital CLO 20 Ltd.** <br>4.984% due 01/20/2035 •  | 1000 | 1000 |
| **Anchorage Capital CLO 21 Ltd.** <br>4.934% due 10/20/2034 •  | 1100 | 1099 |
| **Anchorage Credit Funding 9 Ltd.** <br>3.793% due 10/25/2037 | 777 | 770 |
| **Apex Credit CLO Ltd.** <br>5.684% due 04/20/2036 •  | 1950 | 1961 |
| **Apidos CLO XI** <br>5.122% due 04/17/2034 •  | 1350 | 1352 |
| **ARES European CLO XIV DAC** <br>3.040% due 10/21/2034 •  | 514 | 605 |
| **ARES LX CLO Ltd.** <br>5.064% due 07/18/2034 •  | $500 | 500 |
| **ARES LXII CLO Ltd.** <br>4.928% due 01/25/2034 •  | 2200 | 2200 |
| **ARES LXV CLO Ltd.** <br>4.978% due 07/25/2034 •  | 1000 | 1000 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **ARES XLIV CLO Ltd.** <br>5.035% due 04/15/2034 •  | 2400 | 2401 |
| **ARES XXVII CLO Ltd.** <br>5.009% due 10/28/2034 •  | 1600 | 1601 |
| **Atlantic Avenue Ltd.** <br>5.144% due 01/20/2035 •  | 1550 | 1552 |
| **Atlas Senior Loan Fund XVI Ltd.** <br>5.019% due 01/20/2034 •  | 1400 | 1400 |
| **Atlas Senior Loan Fund XVII Ltd.** <br>4.944% due 10/20/2034 •  | 1000 | 998 |
| **Atlas Senior Loan Fund XVIII Ltd.** <br>4.994% due 01/18/2035 •  | 1200 | 1200 |
| **Avoca Static CLO I DAC** <br>2.996% due 01/15/2035 •  | 723 | 849 |
| **Bain Capital Credit CLO Ltd.**  |  |  |
| 4.850% due 04/23/2035 •  | $2100 | 2099 |
| 4.900% due 10/21/2034 •  | 1000 | 999 |
| 4.925% due 07/24/2034 •  | 1000 | 998 |
| 4.960% due 10/21/2034 •  | 1000 | 1000 |
| 5.007% due 04/22/2035 •  | 2000 | 2000 |
| 5.010% due 10/23/2034 •  | 1000 | 1000 |
| 5.042% due 07/17/2035 •  | 1200 | 1201 |
| **Benefit Street Partners CLO XXII Ltd.** <br>5.034% due 04/20/2035 •  | 1300 | 1300 |
| **BlueMountain CLO XXXIV Ltd.** <br>5.034% due 04/20/2035 •  | 2100 | 2101 |
| **Canyon Capital CLO Ltd.** <br>4.915% due 10/15/2034 •  | 1000 | 999 |
| **Canyon CLO Ltd.**  |  |  |
| 4.985% due 07/15/2034 •  | 1000 | 999 |
| 5.005% due 10/15/2034 •  | 800 | 800 |
| **Carlyle Global Market Strategies CLO Ltd.** <br>4.974% due 07/20/2034 •  | 3600 | 3602 |
| **Carlyle U.S. CLO Ltd.**  |  |  |
| 4.938% due 01/25/2035 •  | 600 | 600 |
| 4.994% due 10/20/2034 •  | 500 | 500 |
| **CarVal CLO III Ltd.** <br>4.874% due 07/20/2032 •  | 929 | 929 |
| **Cedar Funding VI CLO Ltd.** <br>4.974% due 04/20/2034 •  | 1400 | 1400 |
| **CQS U.S. CLO Ltd.** <br>5.084% due 01/20/2035 •  | 1000 | 1001 |
| **Crown Point CLO 7 Ltd.** <br>5.114% due 10/20/2031 •  | 2910 | 2912 |
| **Diamond Infrastructure Funding LLC** <br>1.760% due 04/15/2049 | 1000 | 972 |
| **Dryden 86 CLO Ltd.** <br>5.012% due 07/17/2034 •  | 500 | 500 |
| **Dryden 95 CLO Ltd.** <br>4.929% due 08/20/2034 •  | 1900 | 1899 |
| **Elevation CLO Ltd.** <br>4.988% due 07/25/2034 •  | 1000 | 999 |
| **Elmwood CLO 15 Ltd.** <br>5.007% due 04/22/2035 •  | 600 | 600 |
| **Flatiron CLO 19 Ltd.** <br>5.032% due 11/16/2034 •  | 713 | 713 |
| **Fortress Credit BSL VII Ltd.** <br>4.950% due 07/23/2032 •  | 319 | 319 |
| **Fortress Credit BSL X Ltd.** <br>5.014% due 04/20/2033 •  | 800 | 801 |
| **Golub Capital Partners CLO 50B-R Ltd.** <br>4.994% due 04/20/2035 •  | 1700 | 1700 |
| **Greywolf CLO IV Ltd.** <br>5.122% due 04/17/2034 •  | 1200 | 1201 |
| **Grosvenor Place CLO DAC** <br>3.249% due 01/15/2039 •  | 1900 | 2235 |
| **Guggenheim CLO Ltd.** <br>5.055% due 01/15/2035 •  | $1500 | 1498 |
| **Hayfin Emerald CLO V DAC** <br>3.274% due 11/17/2037 •  | 2100 | 2465 |
| **ICG U.S. CLO Ltd.**  |  |  |
| 4.884% due 01/16/2033 •  | $472 | 472 |
| 5.034% due 10/20/2034 •  | 1200 | 1201 |
| **Indigo Credit Management II DAC** <br>3.209% due 07/15/2038 •  | 2200 | 2587 |
| **Invesco CLO Ltd.** <br>5.034% due 07/20/2035 •  | $1500 | 1500 |
| **Jamestown CLO XVI Ltd.** <br>4.978% due 07/25/2034 •  | 1100 | 1100 |
| **KKR CLO 16 Ltd.** <br>4.988% due 10/20/2034 •  | 5700 | 5702 |
| **KKR CLO 27 Ltd.** <br>5.015% due 01/15/2035 •  | 1100 | 1100 |
| **KKR CLO 33 Ltd.** <br>4.993% due 07/20/2034 •  | 600 | 600 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **KKR CLO 36 Ltd.** <br>5.055% due 10/15/2034 •  | 2020 | 2021 |
| **KKR CLO 42 Ltd.** <br>5.034% due 07/20/2034 •  | 1800 | 1801 |
| **LCM 34 Ltd.** <br>5.064% due 10/20/2034 •  | 250 | 250 |
| **LCM 35 Ltd.** <br>4.985% due 10/15/2034 •  | 1000 | 1000 |
| **LCM 36 Ltd.** <br>4.975% due 01/15/2034 •  | 1000 | 999 |
| **Madison Park Funding XLIX Ltd.** <br>4.934% due 10/19/2034 •  | 1200 | 1200 |
| **Madison Park Funding XLVI Ltd.** <br>4.905% due 10/15/2034 •  | 2100 | 2099 |
| **Marble Point CLO XXII Ltd.** <br>5.078% due 07/25/2034 •  | 1600 | 1602 |
| **Mountain View CLO XIV Ltd.** <br>6.813% due 10/15/2034 •  | 1100 | 1100 |
| **Navesink CLO 2 Ltd.**  |  |  |
| 0.000% due 01/15/2036 •(b)  | 1900 | 1900 |
| 5.175% due 04/15/2036 •  | 2000 | 2000 |
| **Neuberger Berman Loan Advisers CLO 43 Ltd.** <br>4.932% due 07/17/2036 •  | 1000 | 1000 |
| **Neuberger Berman Loan Advisers CLO 45 Ltd.** <br>4.972% due 10/14/2036 •  | 1100 | 1100 |
| **Northwoods Capital 25 Ltd.** <br>5.004% due 07/20/2034 •  | 1500 | 1498 |
| **Ocean Trails CLO XI** <br>4.914% due 07/20/2034 •  | 1300 | 1297 |
| **Octagon Investment Partners 40 Ltd.** <br>4.924% due 01/20/2035 •  | 1700 | 1700 |
| **OFSI BSL X Ltd.** <br>5.154% due 04/20/2034 •  | 1000 | 1001 |
| **Oportun Funding Trust** <br>4.960% due 08/16/2032 | 146 | 147 |
| **Oportun Issuance Trust** <br>5.010% due 02/08/2033 | 500 | 500 |
| **Pagaya AI Debt Grantor Trust**  |  |  |
| 4.961% due 10/15/2032  | 302 | 303 |
| 5.156% due 07/15/2032  | 336 | 339 |
| **Parallel Ltd.** <br>5.015% due 07/15/2034 •  | 1100 | 1098 |
| **Park Avenue Institutional Advisers CLO Ltd.** <br>4.994% due 01/20/2034 •  | 800 | 801 |
| **Post CLO Ltd.** <br>4.985% due 10/15/2034 •  | 2000 | 2000 |
| **PPM CLO 3 Ltd.** <br>5.002% due 07/17/2034 •  | 1700 | 1700 |
| **PPM CLO 5 Ltd.** <br>4.998% due 10/18/2034 •  | 1600 | 1600 |
| **Riserva CLO Ltd.** <br>4.934% due 01/18/2034 •  | 2000 | 2000 |
| **Rockford Tower CLO Ltd.**  |  |  |
| 5.014% due 07/20/2034 •  | 500 | 500 |
| 5.084% due 07/20/2035 •  | 1300 | 1301 |
| **Romark CLO - IV Ltd.** <br>5.067% due 07/10/2034 •  | 1300 | 1301 |
| **Romark CLO V Ltd.** <br>5.095% due 01/15/2035 •  | 1600 | 1601 |
| **Sculptor CLO XXVII Ltd.** <br>4.944% due 07/20/2034 •  | 1000 | 1000 |
| **Shackleton CLO Ltd.** <br>5.084% due 07/20/2034 •  | 1200 | 1201 |
| **Silver Rock CLO II Ltd.** <br>4.924% due 01/20/2035 •  | 1000 | 1000 |
| **Symphony CLO 36 Ltd.** <br>0.000% due 01/20/2036 •(b) | 2800 | 2800 |
| **Symphony CLO XXIV Ltd.** <br>5.261% due 10/23/2035 •  | 900 | 900 |
| **Symphony CLO XXIX Ltd.** <br>5.433% due 10/15/2035 •  | 1400 | 1400 |
| **Symphony CLO XXV Ltd.** <br>4.874% due 04/19/2034 •  | 1900 | 1900 |
| **Symphony CLO XXXII Ltd.** <br>5.419% due 10/23/2035 | 1700 | 1700 |
| **Tesla Sustainable Energy Trust** <br>5.080% due 06/21/2050 | 396 | 398 |
| **Thayer Park CLO Ltd.** <br>4.868% due 04/20/2034 •  | 800 | 800 |
| **THL Credit Wind River CLO Ltd.** <br>5.105% due 04/15/2035 •  | 2600 | 2602 |
| **Tikehau CLO IX DAC** <br>3.224% due 01/20/2037 •  | 2000 | 2352 |
| **Tralee CLO V Ltd.** <br>4.964% due 10/20/2034 •  | $1000 | 1000 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Trinitas CLO VI Ltd.** <br>4.968% due 01/25/2034 •  | 1500 | 1501 |
| **Trinitas CLO VII Ltd.** <br>4.918% due 01/25/2035 •  | 1000 | 1000 |
| **Trinitas CLO XIX Ltd.** <br>4.994% due 10/20/2033 •  | 1025 | 1027 |
| **Trinitas CLO XVII Ltd.** <br>5.034% due 10/20/2034 •  | 2200 | 2201 |
| **Trinitas CLO XX Ltd.** <br>4.924% due 07/20/2035 •  | 1000 | 998 |
| **Trysail CLO Ltd.** <br>5.123% due 10/20/2033 •  | 2000 | 2002 |
| **Venture 44 CLO Ltd.** <br>5.024% due 10/20/2034 •  | 1000 | 1000 |
| **Vibrant CLO XII Ltd.** <br>5.034% due 04/20/2034 •  | 1400 | 1400 |
| **Voya CLO Ltd.** <br>4.944% due 04/20/2034 •  | 2500 | 2500 |
| **Wellfleet CLO Ltd.**  |  |  |
| 5.055% due 07/15/2034 •  | 1000 | 1000 |
| 5.064% due 04/20/2034 •  | 800 | 801 |
| **Whetstone Park CLO Ltd.** <br>4.954% due 01/20/2035 •  | 2700 | 2700 |
| **Wind River CLO Ltd.**  |  |  |
| 4.965% due 10/15/2034 •  | 995 | 992 |
| 4.994% due 07/20/2034 •  | 1600 | 1601 |
|  |  | 160827 |
| Total Asset-Backed Securities (Cost $166,785) |  | 167834 |
| **SOVEREIGN ISSUES 1.5%**  |  |  |
| **Bank Gospodarstwa Krajowego** <br>5.750% due 07/09/2034 | 1500 | 1581 |
| **Canada Government Bonds** <br>3.000% due 06/01/2034 | 2500 | 1780 |
| **Cassa Depositi e Prestiti SpA**  |  |  |
| 5.750% due 05/05/2026  | $300 | 302 |
| 5.875% due 04/30/2029  | 3000 | 3166 |
| **Chile Government International Bonds** <br>3.750% due 01/14/2032 | 3000 | 3588 |
| **Israel Government International Bonds**  |  |  |
| 5.375% due 03/12/2029  | $3200 | 3298 |
| 5.375% due 02/19/2030  | 7700 | 7974 |
| 5.625% due 02/19/2035  | 600 | 627 |
| **Mexico Government International Bonds**  |  |  |
| 4.490% due 05/25/2032  | 500 | 600 |
| 5.850% due 07/02/2032  | $2200 | 2263 |
| 6.000% due 05/13/2030  | 2600 | 2729 |
| 6.000% due 05/07/2036  | 1400 | 1422 |
| 6.400% due 05/07/2054  | 1200 | 1157 |
| 6.625% due 01/29/2038  | 2100 | 2197 |
| **Mexico Udibonos** <br>4.000% due 08/24/2034 (e) | 9 | 1 |
| **Panama Government International Bonds** <br>7.500% due 03/01/2031 | $3800 | 4222 |
| **Peru Government International Bonds**  |  |  |
| 5.375% due 02/08/2035  | 1800 | 1843 |
| 6.900% due 08/12/2037  | 2500 | 779 |
| **Province of British Columbia** <br>4.750% due 06/12/2034 | $500 | 513 |
| **Republic of Poland Government International Bonds** <br>5.125% due 09/18/2034 | 2300 | 2361 |
| **Saudi Government International Bonds**  |  |  |
| 3.375% due 03/05/2032  | 4200 | 4963 |
| 5.125% due 01/13/2028  | $1100 | 1124 |
| 5.375% due 01/13/2031  | 900 | 944 |
| Total Sovereign Issues (Cost $46,490) |  | 49434 |
|  | SHARES |  |
| **PREFERRED SECURITIES 1.4%**  |  |  |
| **BANKING & FINANCE 1.4%**  |  |  |
| **Bank of America Corp.**<br>6.625% due 05/01/2030 (f) | 6300000 | 6565 |
| **Citigroup, Inc.**  |  |  |
| 6.750% due 02/15/2030 (f) | 1500000 | 1523 |
| 6.875% due 12/31/2099 | 1500000 | 1535 |
| 6.950% due 02/15/2030 (f) | 5400000 | 5565 |
| 7.000% due 08/15/2034 (f) | 900000 | 948 |
| 7.125% due 08/15/2029 (f) | 3200000 | 3302 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CoBank ACB**  |  |  |
| 7.125% due 01/01/2030 (f) | 3900000 | 4050 |
| 7.250% due 07/01/2029 (f) | 1800000 | 1856 |
| **Farm Credit Bank of Texas**<br>7.000% due 09/15/2030 (f) | 6200000 | 6396 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 6.125% due 11/10/2034 (f) | 3200000 | 3261 |
| 7.500% due 05/10/2029 (f) | 2300000 | 2436 |
| **JPMorgan Chase & Co.**<br>6.500% due 04/01/2030 (f) | 5600000 | 5816 |
| **Wells Fargo & Co.**<br>6.850% due 09/15/2029 (f) | 2400000 | 2511 |
| Total Preferred Securities (Cost $44,200) |  | 45764 |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.850% (h) | 206272 | 206 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.0%**  |  |  |
| 3.661% due 03/31/2026 - 04/07/2026 (c)(d)(n) | 820 | 813 |
| Total Short-Term Instruments (Cost $1,018) |  | 1019 |
| Total Investments in Securities (Cost $3,333,944) |  | 3380152 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 0.2%**  |  |  |
| **SHORT-TERM INSTRUMENTS 0.2%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.2%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 710738 | 6923 |
| Total Short-Term Instruments (Cost $6,923) |  | 6923 |
| Total Investments in Affiliates (Cost $6,923) |  | 6923 |
| Total Investments 104.7% (Cost $3,340,867) |  | $3387075 |
| **Financial Derivative Instruments (k)(m) 0.0**%(Cost or Premiums, net $29,471) |  | 1526 |
| Other Assets and Liabilities, net (4.7)% |  | (153987) |
| Net Assets 100.0% |  | $3234614 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 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:**  | **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.** | **\* 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.** | **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).** | **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).** |
| **µ** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **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.** | **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.** | **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.** | **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)** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** |
| **(b)** | **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.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** |
| **(c)** | **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.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** |
| **(d)** | **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.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(e)** | **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.** | **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.** |
| **(f)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **(g)** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** |
| **(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.** | **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:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** |
| Issuer Description | Issuer Description | Issuer Description | Coupon | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Acquisition<br>Date | Acquisition<br>Date | Cost | Cost | Cost | Market<br>Value | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
| Constellation Pharmaceutical, Inc. | Constellation Pharmaceutical, Inc. | Constellation Pharmaceutical, Inc. | 5.550 | 07/01/2033 | 07/01/2033 | 07/01/2033 | 01/16/2025 | 01/16/2025 | $3455 | 3455 | 3455 | 3591 | 3591 | 0.11 |
| Deloitte LLP | Deloitte LLP | Deloitte LLP | 5.590 | 01/30/2035 | 01/30/2035 | 01/30/2035 | 10/30/2024 | 10/30/2024 | 2800 | 2800 | 2800 | 2851 | 2851 | 0.09 |
| National Football League | National Football League | National Football League | 5.480 | 10/05/2028 | 10/05/2028 | 10/05/2028 | 03/14/2024 | 03/14/2024 | 4000 | 4000 | 4000 | 4092 | 4092 | 0.12 |
| VB DPR Finance Co. | VB DPR Finance Co. | VB DPR Finance Co. | 6.833 | 03/15/2035 | 03/15/2035 | 03/15/2035 | 01/31/2025 | 01/31/2025 | 6300 | 6300 | 6300 | 6768 | 6768 | 0.21 |
|  |  |  |  |  |  |  |  | $ | 16555 | 16555 | $ | 17302 | 0.53% | 0.53% |
| **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** | **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:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Borrowing Rate<sup>(1)</sup> | Borrowing Rate<sup>(1)</sup> | Borrowing Rate<sup>(1)</sup> | Borrowing Rate<sup>(1)</sup> | Settlement Date | Settlement Date | Maturity Date | Maturity Date | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| BRC | BRC | 3.200%  | 3.200%  | 3.200%  | 3.200%  | 12/12/2025 | 12/12/2025 | 01/30/2026 | 01/30/2026 | (6760) | (6760) | (6760) | (6773) | (6773) |
|  |  | 3.250  | 3.250  | 3.250  | 3.250  | 12/12/2025 | 12/12/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (1452) | (1452) | (1452) | (1455) | (1455) |
|  |  | 3.650  | 3.650  | 3.650  | 3.650  | 12/12/2025 | 12/12/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (5059) | (5059) | (5059) | (5070) | (5070) |
| MYI | MYI | 2.750  | 2.750  | 2.750  | 2.750  | 12/12/2025 | 12/12/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (669) | (669) | (669) | (670) | (670) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  |  |  |  | **(13968)** | **(13968)** |
| **(j)** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $14,864 and cash of $193 have been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | The average amount of borrowings outstanding during the period ended December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. 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 December 31, 2025 was $(586894) at a weighted average interest rate of 4.399%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| <sup>(2)</sup> | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. |
| **(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** | **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** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** | **OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS** |
| Description | Description | Description | Description | Description | Strike<br>Price | Strike<br>Price | Strike<br>Price | # of<br>Contracts | Notional Amount | Notional Amount | Premiums<br>(Received) | Premiums<br>(Received) | Market<br>Value | Market<br>Value |
| Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | $111.500 | 111.500 | 111.500 | 187 | $187 | 187 | (31) | (31) | (29) | (29) |
| Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | Put - CBOE U.S. Treasury 10-Year Note February Futures  | 112.000 | 112.000 | 112.000 | 72 | 72 | 72 | (12) | (12) | (23) | (23) |
| Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | Call - CBOE U.S. Treasury 10-Year Note February Futures  | 113.500 | 113.500 | 113.500 | 259 | 259 | 259 | (50) | (50) | (20) | (20) |
| Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | Put - EUREX Euro-Bund January 2026 Futures  | 127.500 | 127.500 | 127.500 | 19 | 19 | 19 | (10) | (10) | (14) | (14) |

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<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | Call - EUREX Euro-Bund January 2026 Futures  | 130.500 | 130.500 | 01/23/2026 | 19 | 19 | 19 | 19 | (10) | (10) |  | (1) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **(113)** | **(113)** | **$** | **(87)** |
| **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **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** | **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><sup>(1)</sup> | <u>Variation Margin</u><sup>(1)</sup> | <u>Variation Margin</u><sup>(1)</sup> | <u>Variation Margin</u><sup>(1)</sup> |
| 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 |
| Euro-Bobl March Futures  | Euro-Bobl March Futures  | Euro-Bobl March Futures  | Euro-Bobl March Futures  | Euro-Bobl March Futures  | 03/2026 | 03/2026 | 03/2026 | 15 | 15 | 2048 | 2048 |  | (15) | (15) | (15) | 0 | 0 | 0 | (1) |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 03/2026 | 03/2026 | 550 | 550 | 114834 | 114834 |  | 103 | 103 | 103 | 0 | 0 | 0 | (39) |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 03/2026 | 03/2026 | 3119 | 3119 | 340921 | 340921 |  | 174 | 174 | 174 | 0 | 0 | 0 | (365) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 03/2026 | 941 | 941 | 105804 | 105804 |  | (176) | (176) | (176) | 0 | 0 | 0 | (191) |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 03/2026 | 03/2026 | 815 | 815 | 96170 | 96170 |  | (440) | (440) | (440) | 0 | 0 | 0 | (306) |
|  |  |  |  |  |  |  |  |  |  |  |  | $ | (354) | (354) | $ | 0 | 0 | $ | (902) |
| **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><sup>(1)</sup> | <u>Variation Margin</u><sup>(1)</sup> | <u>Variation Margin</u><sup>(1)</sup> | <u>Variation Margin</u><sup>(1)</sup> |
| 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 |
| Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | Euro-Bund March Futures  | 03/2026 | 03/2026 | 03/2026 | 123 | 123 | (18440) | (18440) |  | 254 | 254 | 254 | 33 | 33 | 33 | 0 |
| Euro-Schatz March Futures  | Euro-Schatz March Futures  | Euro-Schatz March Futures  | Euro-Schatz March Futures  | Euro-Schatz March Futures  | 03/2026 | 03/2026 | 03/2026 | 40 | 40 | (5020) | (5020) |  | 7 | 7 | 7 | 1 | 1 | 1 | 0 |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 03/2026 | 03/2026 | 541 | 541 | (62223) | (62223) |  | (1) | (1) | (1) | 101 | 101 | 101 | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  | $ | 260 | 260 | $ | 135 | 135 | $ | 0 |
| **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** | **$** | **(94)** | **(94)** | **$** | **135** | **135** | **$** | **(902)** |
| **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 - 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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>December 31, 2025<sup>(3)</sup> |  | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| AES Corp.  | 5.000% | Quarterly | 12/20/2028 | 0.648 | 0.648 | % | $ | $1300 | 1300 | 161 | 161 | $ | 1 | 162 | 162 | 162 | 0 | 0 | 0 |
| AES Corp.  | 5.000 | Quarterly | 06/20/2030 | 0.951 | 0.951 |  |  | 4200 | 4200 | 722 | 722 |  | (20) | 702 | 702 | 702 | 0 | 0 | (1) |
| American International Group, Inc.  | 1.000 | Quarterly | 12/20/2027 | 0.197 | 0.197 |  |  | 200 | 200 | (1) | (1) |  | 4 | 3 | 3 | 3 | 0 | 0 | 0 |
| AT&T, Inc.  | 1.000 | Quarterly | 06/20/2028 | 0.414 | 0.414 |  |  | 2800 | 2800 | (7) | (7) |  | 47 | 40 | 40 | 40 | 0 | 0 | (1) |
| Bank of America Corp.  | 1.000 | Quarterly | 12/20/2026 | 0.299 | 0.299 |  |  | 1200 | 1200 | 14 | 14 |  | (5) | 9 | 9 | 9 | 0 | 0 | 0 |
| Boeing Co.  | 1.000 | Quarterly | 12/20/2030 | 0.651 | 0.651 |  |  | 1300 | 1300 | 22 | 22 |  | (1) | 21 | 21 | 21 | 0 | 0 | 0 |
| Ford Motor Co.  | 5.000 | Quarterly | 12/20/2028 | 1.093 | 1.093 |  |  | 2000 | 2000 | 223 | 223 |  | (2) | 221 | 221 | 221 | 1 | 1 | 0 |
| General Motors Co.  | 5.000 | Quarterly | 06/20/2028 | 0.528 | 0.528 |  |  | 2100 | 2100 | 298 | 298 |  | (72) | 226 | 226 | 226 | 0 | 0 | (1) |
| Goldman Sachs Group, Inc.  | 1.000 | Quarterly | 06/20/2026 | 0.252 | 0.252 |  |  | 6900 | 6900 | 43 | 43 |  | (17) | 26 | 26 | 26 | 1 | 1 | 0 |
| Morgan Stanley  | 1.000 | Quarterly | 06/20/2026 | 0.226 | 0.226 |  |  | 11300 | 11300 | 62 | 62 |  | (17) | 45 | 45 | 45 | 1 | 1 | 0 |
| Oracle Corp.  | 1.000 | Quarterly | 06/20/2030 | 1.367 | 1.367 |  |  | 2600 | 2600 | 58 | 58 |  | (96) | (38) | (38) | (38) | 0 | 0 | 0 |
| Volkswagen International Finance NV  | 1.000 | Quarterly | 06/20/2028 | 0.455 | 0.455 |  | EUR | 1000 | 1000 | 8 | 8 |  | 8 | 16 | 16 | 16 | 0 | 0 | 0 |
|  |  |  |  |  |  |  |  |  |  | $1603 | 1603 | $ | (170) | $1433 | 1433 | 1433 | $3 | 3 | $(3) |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date |  |  | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| CDX.IG-44 5-Year Index  | CDX.IG-44 5-Year Index  | 1.000% | Quarterly | 06/20/2030 | 06/20/2030 | $ | $ | 191900 | 191900 | 2469 | 2469 | $ | 1893 | 4362 | 4362 | 4362 | 2 | 2 | 0 |
| CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | 1.000 | Quarterly | 12/20/2030 | 12/20/2030 |  |  | 977900 | 977900 | 21939 | 21939 |  | 503 | 22442 | 22442 | 22442 | 11 | 11 | 0 |
| iTraxx Main 44 5-Year Index  | iTraxx Main 44 5-Year Index  | 1.000 | Quarterly | 12/20/2030 | 12/20/2030 | EUR | EUR | 11950 | 11950 | 304 | 304 |  | 25 | 329 | 329 | 329 | 4 | 4 | 0 |
|  |  |  |  |  |  |  |  |  |  | 24712 | 24712 | $ | 2421 | 27133 | 27133 | 27133 | 17 | 17 | 0 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Asset | Asset | Liability |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750% | Annual | Annual | 12/18/2029 | 43800 | (815) | (815) | 237 | $(578) | (578) | $57 | 57 | $0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | Annual | 03/04/2030 | 3500 | (7) | (7) | (38) | (45) | (45) | 5 | 5 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | Annual | 06/18/2030 | 66450 | 982 | 982 | (140) | 842 | 842 | 99 | 99 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 05/15/2032 | 54616 | (54) | (54) | (491) | (545) | (545) | 98 | 98 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 12/18/2034 | 64220 | (287) | (287) | 181 | (106) | (106) | 142 | 142 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | Annual | 03/05/2035 | 2100 | (7) | (7) | (7) | (14) | (14) | 5 | 5 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.899 | Annual | Annual | 03/11/2035 | 2200 | (8) | (8) | (11) | (19) | (19) | 5 | 5 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | Annual | 03/21/2035 | 2500 | (7) | (7) | (32) | (39) | (39) | 5 | 5 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | Annual | 03/24/2035 | 4300 | (13) | (13) | (37) | (50) | (50) | 10 | 10 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.884 | Annual | Annual | 03/25/2035 | 2200 | (6) | (6) | (11) | (17) | (17) | 5 | 5 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | Annual | 06/20/2054 | 9900 | 404 | 404 | 752 | 1156 | 1156 | 32 | 32 | 0 |
| Pay<sup>(6)</sup> | Pay<sup>(6)</sup> | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.500 | Annual | Annual | 03/18/2031 | 1780 | 8 | 8 | (19) | (11) | (11) | 0 | 0 | (1) |
| Receive | Receive | CAONREPO | CAONREPO | 3.000 | Semi-Annual | Semi-Annual | 06/01/2034 | 2300 | 5 | 5 | 1 | 6 | 6 | 2 | 2 | 0 |
|  |  |  |  |  |  |  |  | $ | 195 | $ | 385 | 580 | $ | 465 | $ | (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** | **$** | **26510** | **$** | **2636** | **29146** | **$** | **485** | **$** | **(4)** |
| **(l)** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $47,097 and cash of $10,189 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <sup>(1)</sup> | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. | Unsettled variation margin asset of $19 for closed futures is outstanding at period end. |
| <sup>(2)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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. |
| <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. |
| <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. |
| **(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** | **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:** | **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> | <u>Unrealized Appreciation/(Depreciation)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | 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 | Asset | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 01/2026  | 01/2026  | 01/2026  | AUD | 2180 | 2180 | $1436 | 1436 | 1436 | 0 | 0 | 0 | (19) | (19) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $1605 | 1605 | 2426 | 2426 | 2426 | 14 | 14 | 14 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | 01/2026  | 01/2026  | 01/2026  |  | 677 | 677 | 105345 | 105345 | 105345 | 0 | 0 | 0 | (4) | (4) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | PEN | 3017 | 3017 | $863 | 863 | 863 | 0 | 0 | 0 | (33) | (33) |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 01/2026  | 01/2026  | AUD | 6187 | 6187 | 4106 | 4106 | 4106 | 0 | 0 | 0 | (23) | (23) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | EUR | 241 | 241 | 281 | 281 | 281 | 0 | 0 | 0 | (3) | (3) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $17812 | 17812 | 1586201 | 1586201 | 1586201 | 0 | 0 | 0 | (206) | (206) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 1437 | 1437 | 2495 | 2495 | 2495 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CIB | &nbsp;&nbsp;&nbsp;&nbsp; CIB | &nbsp;&nbsp;&nbsp;&nbsp; CIB | 01/2026  | 01/2026  | 01/2026  | EUR | 9253 | 9253 | $10777 | 10777 | 10777 | 0 | 0 | 0 | (102) | (102) |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | 01/2026  | 01/2026  | 01/2026  | AUD | 8001 | 8001 | 5220 | 5220 | 5220 | 0 | 0 | 0 | (120) | (120) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | CHF | 12 | 12 | 15 | 15 | 15 | 0 | 0 | 0 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | CNH | 6804 | 6804 | 967 | 967 | 967 | 0 | 0 | 0 | (10) | (10) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | GBP | 2432 | 2432 | 3194 | 3194 | 3194 | 0 | 0 | 0 | (84) | (84) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $8758 | 8758 | 162456 | 162456 | 162456 | 243 | 243 | 243 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  |  | 3133 | 3133 | 5468 | 5468 | 5468 | 16 | 16 | 16 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | 01/2026  | 01/2026  | 01/2026  | AUD | 603 | 603 | $399 | 399 | 399 | 0 | 0 | 0 | (4) | (4) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | CNH | 28323 | 28323 | 4022 | 4022 | 4022 | 0 | 0 | 0 | (42) | (42) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | MXN | 561 | 561 | 30 | 30 | 30 | 0 | 0 | 0 | (1) | (1) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | $ | $2322 | 2322 | 206770 | 206770 | 206770 | 0 | 0 | 0 | (27) | (27) |

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<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | CAD | 18792 | 18792 | $ | 13352 | 13352 | 13352 | 13352 |  | 0 | 0 |  |  | (347) | (347) |
|  |  |  | 01/2026  | EUR | 33089 | 33089 |  | 38404 | 38404 | 38404 | 38404 |  | 0 | 0 |  |  | (498) | (498) |
|  |  |  | 01/2026  | $ | 6845 | 6845 | EUR | 5804 | 5804 | 5804 | 5804 |  | 0 | 0 |  |  | (21) | (21) |
|  |  |  | 01/2026  |  | 29 | 29 | JPY | 4515 | 4515 | 4515 | 4515 |  | 0 | 0 |  |  | 0 | 0 |
|  |  |  | 01/2026  |  | 4515 | 4515 | NZD | 7800 | 7800 | 7800 | 7800 |  | 0 | 0 |  |  | (23) | (23) |
|  |  |  | 02/2026  |  | 0 | 0 | MXN | 3 | 3 | 3 | 3 |  | 0 | 0 |  |  | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | 01/2026  | EUR | 5381 | 5381 | $ | 6315 | 6315 | 6315 | 6315 |  | 0 | 0 |  |  | (12) | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 01/2026  | CNH | 13566 | 13566 |  | 1925 | 1925 | 1925 | 1925 |  | 0 | 0 |  |  | (21) | (21) |
|  |  |  | 01/2026  | $ | 526 | 526 | JPY | 81719 | 81719 | 81719 | 81719 |  | 0 | 0 |  |  | (3) | (3) |
|  |  |  | 03/2026  | PEN | 797 | 797 | $ | 236 | 236 | 236 | 236 |  | 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** | **Total Forward Foreign Currency Contracts** | $**273** | **273** | **273** | **$** | $**(1603)** | **(1603)** | **(1603)** |
| **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** |
| **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** |
| Counterparty | Counterparty | Description | Description | Description | Description |  | Strike<br>Price | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Cost | Cost |  | Market<br>Value | Market<br>Value |
| BOA | BOA | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | 1415.000 | 1415.000 | 1415.000 | 02/19/2026 | 5321 | 5321 | 5321 | 36 | 36 | $ | $30 | 30 |
|  |  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  |  | 1413.000 | 1413.000 | 1413.000 | 02/27/2026 | 10221 | 10221 | 10221 | 69 | 69 |  | 62 | 62 |
| BRC | BRC | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  |  | 1412.000 | 1412.000 | 1412.000 | 02/24/2026 | 3505 | 3505 | 3505 | 24 | 24 |  | 20 | 20 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **129** | **129** | **$** | $**112** | **112** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** | **FOREIGN CURRENCY OPTIONS** |
| Counterparty | Counterparty | Description | Description | Description | Description |  | Strike<br>Price | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Premiums<br>(Received) |  | Market<br>Value | Market<br>Value |
| BOA | BOA | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | KRW | 1375.000 | 1375.000 | 1375.000 | 02/19/2026 | 5321 | 5321 | 5321 | (12) | (12) | $ | $(8) | (8) |
|  |  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  |  | 1375.000 | 1375.000 | 1375.000 | 02/27/2026 | 10221 | 10221 | 10221 | (24) | (24) |  | (19) | (19) |
| BRC | BRC | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  | Put - OTC USD versus KRW  |  | 1372.000 | 1372.000 | 1372.000 | 02/24/2026 | 3505 | 3505 | 3505 | (8) | (8) |  | (5) | (5) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | (44) | (44) | $ | $(32) | (32) |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Counterparty | Description | Floating Rate<br>Index | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Premiums<br>(Received) |  | Market<br>Value | Market<br>Value |
| FAR | FAR | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | 3.580% | 3.580% | 3.580% | 01/05/2026 | 01/05/2026 | 4200 | 4200 | 4200 | (10) | (10) | $ | $0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.860 | 3.860 | 3.860 | 01/05/2026 | 01/05/2026 | 4200 | 4200 | 4200 | (10) | (10) |  | (1) | (1) |
| MYC | MYC | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | 3.625 | 3.625 | 3.625 | 01/08/2026 | 01/08/2026 | 4200 | 4200 | 4200 | (10) | (10) |  | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.925 | 3.925 | 3.925 | 01/08/2026 | 01/08/2026 | 4200 | 4200 | 4200 | (11) | (11) |  | (1) | (1) |
|  |  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | 3.639 | 3.639 | 3.639 | 01/12/2026 | 01/12/2026 | 4300 | 4300 | 4300 | (10) | (10) |  | (1) | (1) |
|  |  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | 3.919 | 3.919 | 3.919 | 01/12/2026 | 01/12/2026 | 4300 | 4300 | 4300 | (10) | (10) |  | (2) | (2) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | (61) | (61) | $ | $(5) | (5) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **(105)** | **(105)** | **$** | $**(37)** | **(37)** |
| **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 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>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> | <u>Swap Agreements, at Value</u><sup>(4)</sup> |
| Counterparty | Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount<sup>(3)</sup> |  | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| JPM | iTraxx Crossover 42 5-Year 35-100% Index  | iTraxx Crossover 42 5-Year 35-100% Index  | iTraxx Crossover 42 5-Year 35-100% Index  | 5.000% | Quarterly | 12/20/2029 | 12/20/2029 | 12/20/2029 | 12/20/2029 | 15462 | $ | 3050 | 3050 | 85 | 3135 | 3135 | 3135 | 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** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **3050** | **3050** | $**85** | $**3135** | **3135** | **3135** | $**0** |
| **(n)** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $1,134 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| <sup>(2)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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> | 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. | 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. |

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<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – I (Cont.) December 31, 2025 (Unaudited)

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|:---|:---|:---|:---|:---|:---|
| <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. |
| **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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 12/31/2025 |
| **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** |
| Loan Participations and Assignments | Loan Participations and Assignments | $0 | $0 | $9000 | $9000 |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | Banking & Finance | 0 | 947135 | 9619 | 956754 |
| Industrials | Industrials | 0 | 981333 | 7683 | 989016 |
| Utilities | Utilities | 0 | 295928 | 0 | 295928 |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| Arizona | Arizona | 0 | 4723 | 0 | 4723 |
| Louisiana | Louisiana | 0 | 414 | 0 | 414 |
| Texas | Texas | 0 | 344 | 0 | 344 |
| U.S. Government Agencies | U.S. Government Agencies | 0 | 221600 | 0 | 221600 |
| U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 601435 | 0 | 601435 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 36887 | 0 | 36887 |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| Automobile Sequential | Automobile Sequential | 0 | 6459 | 0 | 6459 |
| CMBS Other | CMBS Other | 0 | 548 | 0 | 548 |
| Other ABS | Other ABS | 0 | 160827 | 0 | 160827 |
| Sovereign Issues | Sovereign Issues | 0 | 49434 | 0 | 49434 |
| Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |
| Banking & Finance | Banking & Finance | 0 | 45764 | 0 | 45764 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 206 | 0 | 206 |
| U.S. Treasury Bills | U.S. Treasury Bills | 0 | 813 | 0 | 813 |
|  |  | $0 | $3353850 | $26302 | $3380152 |
| **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 |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | $6923 | $0 | $0 | $6923 |
| Total Investments | Total Investments | $6923 | $3353850 | $26302 | $3387075 |
| **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 34 | 586 | 0 | 620 |
| Over the counter | Over the counter | 0 | 3520 | 0 | 3520 |
|  |  | $34 | $4106 | $0 | $4140 |
| **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | (16) | (977) | 0 | (993) |
| Over the counter | Over the counter | 0 | (1640) | 0 | (1640) |
|  |  | $(16) | $(2617) | $0 | $(2633) |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | $18 | $1489 | $0 | $1507 |
| Totals | Totals | $6941 | $3355339 | $26302 | $3388582 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

---

------

<br> Consolidated Schedule of Investments PAPS_PIMCO Sector Fund Series -AM December 31, 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 177.2% ¤** |  |  |
| **U.S. GOVERNMENT AGENCIES 164.4%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 5.000% due 11/01/2053 | $4011 | $4016 |
| 5.500% due 04/01/2054 - 07/01/2054 | 2972 | 3036 |
| 6.000% due 05/01/2054 - 04/01/2055 | 3755 | 3923 |
| 6.500% due 09/01/2053 - 08/01/2055 | 576 | 607 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 3.000% due 10/25/2049 (a) | 2625 | 352 |
| 4.824% due 08/25/2054 •  | 730 | 733 |
| **Federal Home Loan Mortgage Corp. STRIPS**<br>2.500% due 04/25/2052 (a) | 3244 | 468 |
| **Federal National Mortgage Association**  |  |  |
| 4.000% due 04/01/2043 - 08/01/2051 | 1506 | 1462 |
| 4.300% due 12/01/2029 - 12/01/2032 | 1401 | 1401 |
| 4.740% due 04/01/2030 | 245 | 248 |
| 4.880% due 06/01/2028 | 500 | 511 |
| 5.140% due 02/01/2035 | 500 | 520 |
| 6.000% due 09/01/2054 - 04/01/2055 | 2809 | 2900 |
| 6.500% due 11/01/2053 - 07/01/2054 | 197 | 208 |
| 7.000% due 03/01/2045 | 454 | 478 |
| **Federal National Mortgage Association Interest STRIPS**<br>2.000% due 04/25/2052 (a) | 931 | 119 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 3.000% due 10/25/2051 (a) | 1884 | 331 |
| 4.500% due 05/25/2049 (a) | 480 | 94 |
| 4.539% due 09/25/2041 •  | 1161 | 1157 |
| 5.124% due 05/25/2054 •  | 3393 | 3410 |
| 5.224% due 01/25/2055 •  | 2806 | 2826 |
| 5.324% due 06/25/2054 •  | 2242 | 2262 |
| 5.574% due 05/25/2055 •  | 515 | 520 |
| **Government National Mortgage Association**  |  |  |
| 3.500% due 11/20/2055 | 1498 | 1364 |
| 4.500% due 07/15/2049 - 07/20/2054 | 704 | 688 |
| 5.000% due 03/20/2053 | 2818 | 2835 |
| 5.500% due 03/20/2036 - 05/20/2036 | 2000 | 2059 |
| **Government National Mortgage Association REMICS**  |  |  |
| 4.724% due 03/20/2070 •  | 335 | 335 |
| 4.818% due 08/20/2072 •  | 2570 | 2585 |
| 4.968% due 08/20/2053 •  | 1527 | 1532 |
| 5.099% due 01/20/2068 •  | 347 | 348 |
| 5.418% due 07/20/2071 •  | 914 | 937 |
| **Government National Mortgage Association, TBA**  |  |  |
| 2.000% due 02/01/2056 | 500 | 414 |
| 2.500% due 02/01/2056 | 3000 | 2588 |
| 3.000% due 01/01/2056 | 4000 | 3595 |
| 3.500% due 02/01/2056 | 5365 | 4883 |
| 4.000% due 02/01/2056 | 1500 | 1417 |
| 5.000% due 01/01/2056 | 1400 | 1397 |
| 6.500% due 02/01/2056 | 2000 | 2065 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 2.000% due 01/01/2041 - 02/01/2056 | 9300 | 7659 |
| 2.500% due 01/01/2041 - 02/01/2056 | 3200 | 2756 |
| 3.000% due 02/01/2056 | 6800 | 6011 |
| 3.500% due 01/01/2041 - 02/01/2056 | 2400 | 2287 |
| 4.500% due 02/01/2056 | 1100 | 1073 |
| 5.000% due 02/01/2056 | 2000 | 1993 |
| 6.000% due 02/01/2056 | 4300 | 4413 |
| 6.500% due 02/01/2056 | 1900 | 1975 |
| Total U.S. Government Agencies (Cost $88,236) |  | 88791 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 12.2%**  |  |  |
| **ACRA Trust** <br>5.608% due 10/25/2064 þ | 1590 | 1598 |
| **Citigroup Mortgage Loan Trust, Inc.** <br>5.224% due 07/25/2054 •  | 1673 | 1682 |
| **MFA Trust** <br>4.250% due 02/25/2066 ~ | 1693 | 1630 |

---

------

<br> Consolidated Schedule of Investments PAPS_PIMCO Sector Fund Series -AM (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **NYMT Loan Trust** <br>5.379% due 06/25/2069 ~ | 1685 | 1697 |
| Total Non-Agency Mortgage-Backed Securities (Cost $6,552) |  | 6607 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.6%**  |  |  |
| **MUTUAL FUNDS 0.6%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.850% (b) | 334748 | 334 |
| Total Short-Term Instruments (Cost $335) |  | 334 |
| Total Investments in Securities (Cost $95,123) |  | 95732 |
| **INVESTMENTS IN AFFILIATES 4.3%**  |  |  |
| **SHORT-TERM INSTRUMENTS 4.3%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.3%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 238861 | 2327 |
| Total Short-Term Instruments (Cost $2,326) |  | 2327 |
| Total Investments in Affiliates (Cost $2,326) |  | 2327 |
| Total Investments 181.5% (Cost $97,449) |  | $98059 |
| **Financial Derivative Instruments (c)(d) 1.5**%(Cost or Premiums, net $1,003) |  | 822 |
| Other Assets and Liabilities, net (83.0)% |  | (44852) |
| Net Assets 100.0% |  | $54029 |

---

------

<br> Consolidated Schedule of Investments PAPS_PIMCO Sector Fund Series -AM (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED 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.** | **\* 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.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **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.** | **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.** | **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.** | **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)** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** |
| **(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.** | **Coupon represents a 7-Day Yield.** |
| **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** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Description | Description | Coupon | Maturity<br>Date | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | Proceeds | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% | U.S. Government Agencies (4.8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA  | 4.500% | 01/01/2056 | 01/01/2056 | $ | 100 | $ | (97) | (97) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 4.000 | 02/01/2056 | 02/01/2056 |  | 700 |  | (665) | (664) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 5.500 | 02/01/2056 | 02/01/2056 |  | 1800 |  | (1813) | (1820) |
| **Total Short Sales (4.8)%** | **Total Short Sales (4.8)%** | **Total Short Sales (4.8)%** | **Total Short Sales (4.8)%** | **Total Short Sales (4.8)%** | **Total Short Sales (4.8)%** |  |  |  |  |  | **$** | **(2575)** | **(2581)** |
| **The average amount of borrowings outstanding during the period ended December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. 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 December 31, 2025 was $(8040) at a weighted average interest rate of 4.470%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** |
| **(c)** | **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** | **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:** | **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** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 6 | 690 | 690 | 690 | $(2) | (2) | (2) | 0 | 0 | (1) |
| **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> |
| Description | Description | Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 38 | (4154) | (4154) | (4154) | $6 | 6 | 6 | 4 | 4 | 0 |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 72 | (8096) | (8096) | (8096) | 55 | 55 | 55 | 15 | 15 | 0 |
|  |  |  |  |  |  |  |  | 61 | 61 | $ | 19 | $ | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **59** | **59** | **$** | **19** | **$** | **(1)** |
| **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:** |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | 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 | Liability |
| Pay | 3.750% | Annual | 12/18/2029 | $3500 | $11 | 11 | $ | (25) | (25) | (14) | (14) | 3 | $(2) |
| Pay | 3.410 | Annual | 10/16/2032 | 1000 | (5) | (5) |  | 17 | 17 | 12 | 12 | 2 | 0 |
| Pay | 3.750 | Annual | 12/17/2032 | 900 | (20) | (20) |  | 12 | 12 | (8) | (8) | 2 | 0 |
| Pay | 3.750 | Annual | 12/18/2034 | 4100 | 36 | 36 |  | (32) | (32) | 4 | 4 | 0 | (9) |
| Pay | 3.250 | Annual | 03/19/2035 | 600 | 39 | 39 |  | (11) | (11) | 28 | 28 | 1 | 0 |

---

------

<br> Consolidated Schedule of Investments PAPS_PIMCO Sector Fund Series -AM (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | Annual | 06/18/2035 |  | 900 | 900 |  | 30 | 30 |  | 12 | 12 |  | 42 | 42 |  | 2 |  | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 09/17/2035 |  | 1600 | 1600 |  | (13) | (13) |  | 19 | 19 |  | 6 | 6 |  | 4 |  | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | Annual | 12/18/2054 |  | 200 | 200 |  | (2) | (2) |  | 25 | 25 |  | 23 | 23 |  | 1 |  | 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** | **$** | **$** | **76** | **76** | $**17** | **17** | **17** | $**93** | **93** | **93** | $**15** | **15** | $**(11)** | **(11)** |
| **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $376 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| **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** | **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** |
| **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Counterparty | Description | Description | Description | Floating Rate<br>Index | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Cost | Cost | Cost | Market<br>Value | Market<br>Value |
| BOA | BOA | Call - OTC 7-Year Interest Rate Swap  | Call - OTC 7-Year Interest Rate Swap  | Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.194% | 3.194% | 3.194% | 03/04/2026 | 03/04/2026 | 03/04/2026 | 1600 | 1600 | 1600 | $5 | 5 | 5 | 2 | 2 |
|  |  | Put - OTC 7-Year Interest Rate Swap  | Put - OTC 7-Year Interest Rate Swap  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 5.000 | 5.000 | 5.000 | 03/30/2026 | 03/30/2026 | 03/30/2026 | 11600 | 11600 | 11600 | 3 | 3 | 3 | 0 | 0 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.906 | 3.906 | 3.906 | 03/04/2026 | 03/04/2026 | 03/04/2026 | 1600 | 1600 | 1600 | 18 | 18 | 18 | 9 | 9 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.265 | 4.265 | 4.265 | 05/01/2035 | 05/01/2035 | 05/01/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 13 | 13 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.265 | 4.265 | 4.265 | 05/01/2035 | 05/01/2035 | 05/01/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 18 | 18 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.470 | 4.470 | 4.470 | 06/04/2035 | 06/04/2035 | 06/04/2035 | 100 | 100 | 100 | 9 | 9 | 9 | 7 | 7 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.470 | 4.470 | 4.470 | 06/04/2035 | 06/04/2035 | 06/04/2035 | 100 | 100 | 100 | 9 | 9 | 9 | 9 | 9 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.400 | 4.400 | 4.400 | 06/25/2035 | 06/25/2035 | 06/25/2035 | 1000 | 1000 | 1000 | 89 | 89 | 89 | 70 | 70 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.400 | 4.400 | 4.400 | 06/25/2035 | 06/25/2035 | 06/25/2035 | 500 | 500 | 500 | 45 | 45 | 45 | 44 | 44 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.640 | 4.640 | 4.640 | 07/23/2035 | 07/23/2035 | 07/23/2035 | 600 | 600 | 600 | 54 | 54 | 54 | 46 | 46 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.640 | 4.640 | 4.640 | 07/23/2035 | 07/23/2035 | 07/23/2035 | 300 | 300 | 300 | 27 | 27 | 27 | 25 | 25 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.427 | 4.427 | 4.427 | 08/06/2035 | 08/06/2035 | 08/06/2035 | 200 | 200 | 200 | 17 | 17 | 17 | 14 | 14 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.427 | 4.427 | 4.427 | 08/06/2035 | 08/06/2035 | 08/06/2035 | 200 | 200 | 200 | 17 | 17 | 17 | 17 | 17 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.623 | 4.623 | 4.623 | 08/20/2035 | 08/20/2035 | 08/20/2035 | 4500 | 4500 | 4500 | 390 | 390 | 390 | 342 | 342 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.693 | 4.693 | 4.693 | 08/27/2035 | 08/27/2035 | 08/27/2035 | 200 | 200 | 200 | 17 | 17 | 17 | 16 | 16 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.693 | 4.693 | 4.693 | 08/27/2035 | 08/27/2035 | 08/27/2035 | 200 | 200 | 200 | 17 | 17 | 17 | 16 | 16 |
| FAR | FAR | Put - OTC 7-Year Interest Rate Swap  | Put - OTC 7-Year Interest Rate Swap  | Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 5.000 | 5.000 | 5.000 | 04/03/2026 | 04/03/2026 | 04/03/2026 | 3900 | 3900 | 3900 | 13 | 13 | 13 | 0 | 0 |
| GLM | GLM | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.310 | 4.310 | 4.310 | 04/24/2035 | 04/24/2035 | 04/24/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 13 | 13 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.310 | 4.310 | 4.310 | 04/24/2035 | 04/24/2035 | 04/24/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 18 | 18 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.430 | 4.430 | 4.430 | 05/16/2035 | 05/16/2035 | 05/16/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 14 | 14 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.430 | 4.430 | 4.430 | 05/16/2035 | 05/16/2035 | 05/16/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 17 | 17 |
| JPM | JPM | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.285 | 4.285 | 4.285 | 05/07/2035 | 05/07/2035 | 05/07/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 13 | 13 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.285 | 4.285 | 4.285 | 05/07/2035 | 05/07/2035 | 05/07/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 18 | 18 |
|  |  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.693 | 4.693 | 4.693 | 08/27/2035 | 08/27/2035 | 08/27/2035 | 200 | 200 | 200 | 17 | 17 | 17 | 16 | 16 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.693 | 4.693 | 4.693 | 08/27/2035 | 08/27/2035 | 08/27/2035 | 200 | 200 | 200 | 17 | 17 | 17 | 16 | 16 |
| MYC | MYC | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 4.485 | 4.485 | 4.485 | 08/07/2035 | 08/07/2035 | 08/07/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 14 | 14 |
|  |  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.485 | 4.485 | 4.485 | 08/07/2035 | 08/07/2035 | 08/07/2035 | 200 | 200 | 200 | 18 | 18 | 18 | 17 | 17 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $944 | 944 | 944 | 804 | 804 |
| **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** |
| Counterparty | Counterparty | Description | Description | Description | Description | Description |  | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Expiration<br>Date | Expiration<br>Date |  |  | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Cost | Cost | Cost | Market<br>Value | Market<br>Value |
| GSC | GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  | $ | $98.922 | 98.922 | 02/05/2026 | 02/05/2026 | 02/05/2026 |  |  | 500 | 500 | 500 | $1 | 1 | 1 | 0 | 0 |

---

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<br> Consolidated Schedule of Investments PAPS_PIMCO Sector Fund Series -AM (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| JPM | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 02/01/2056  | 98.906 | 98.906 | 98.906 | 02/05/2026 | 02/05/2026 |  | 500 | 500 | 0 | 0 | 0 |
|  |  |  |  |  |  |  |  |  |  | $1 | 1 | $0 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | $**945** | **945** | $**804** |
| **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** | **WRITTEN OPTIONS:** |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Premiums<br>(Received) | Market<br>Value |
| BOA | 3-Month USD-SOFR | Receive | Receive | 3.200% | 3.200% | 03/30/2026 | 03/30/2026 | 500 | 500 | $(3) | (3) | $(1) |
| GLM | 3-Month USD-SOFR | Pay | Pay | 4.180 | 4.180 | 02/05/2026 | 02/05/2026 | 300 | 300 | (1) | (1) | 0 |
|  |  |  |  |  |  |  |  |  |  | $(4) | (4) | $(1) |
| **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** | **OPTIONS ON SECURITIES** |
| Counterparty | Description | Strike<br>Price | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Expiration<br>Date |  | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Premiums<br>(Received) | Market<br>Value |
| GSC | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | $95.227 | 95.227 | 95.227 | 01/07/2026 | 01/07/2026 |  | 200 | 200 | $(1) | (1) | $0 |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | 97.375 | 97.375 | 97.375 | 01/07/2026 | 01/07/2026 |  | 2000 | 2000 | (5) | (5) | 0 |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 02/01/2056  | 93.781 | 93.781 | 93.781 | 02/05/2026 | 02/05/2026 |  | 500 | 500 | (1) | (1) | (1) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | 102.133 | 102.133 | 102.133 | 03/05/2026 | 03/05/2026 |  | 500 | 500 | (1) | (1) | (1) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 03/01/2056  | 102.141 | 102.141 | 102.141 | 03/05/2026 | 03/05/2026 |  | 1000 | 1000 | (3) | (3) | (1) |
| JPM | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 02/01/2056  | 102.297 | 102.297 | 102.297 | 02/05/2026 | 02/05/2026 |  | 500 | 500 | (1) | (1) | 0 |
| SAL | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 01/01/2056  | 95.250 | 95.250 | 95.250 | 01/07/2026 | 01/07/2026 |  | 300 | 300 | (2) | (2) | 0 |
|  |  |  |  |  |  |  |  |  |  | $(14) | (14) | $(3) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | $**(18)** | **(18)** | $**(4)** |
| Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| **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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 2025 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |
| **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** | **Investments in Securities, at Value** |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | $0 | 0 | 0 | 0 | $88791 | 88791 | $0 | 0 | $88791 | 88791 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 0 | 0 | 0 | 6607 | 6607 | 0 | 0 | 6607 | 6607 |
| 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 | Short-Term Instruments |
| Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 0 | 0 | 334 | 334 | 0 | 0 | 334 | 334 |
|  |  |  | $0 | 0 | 0 | 0 | $95732 | 95732 | $0 | 0 | $95732 | 95732 |
| **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** | **Investments in Affiliates, at Value** |
| 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 | Short-Term Instruments |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | $2327 | 2327 | 2327 | 2327 | $0 | 0 | $0 | 0 | $2327 | 2327 |
| Total Investments | Total Investments | Total Investments | $2327 | 2327 | 2327 | 2327 | $95732 | 95732 | $0 | 0 | $98059 | 98059 |
| **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | $0 | 0 | 0 | 0 | $(2581) | (2581) | $0 | 0 | $(2581) | (2581) |
| **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**  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 0 | 0 | 0 | 0 | 34 | 34 | 0 | 0 | 34 | 34 |
| Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | 0 | 804 | 804 | 0 | 0 | 804 | 804 |
|  |  |  | $0 | 0 | 0 | 0 | $838 | 838 | $0 | 0 | $838 | 838 |
| **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**  | **Financial Derivative Instruments - Liabilities**  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 0 | 0 | 0 | 0 | (12) | (12) | 0 | 0 | (12) | (12) |
| Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | 0 | (4) | (4) | 0 | 0 | (4) | (4) |
|  |  |  | $0 | 0 | 0 | 0 | $(16) | (16) | $0 | 0 | $(16) | (16) |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | 0 | 0 | $822 | 822 | $0 | 0 | $822 | 822 |
| Totals | Totals | Totals | $2326 | 2326 | 2326 | 2326 | $93974 | 93974 | $0 | 0 | $96300 | 96300 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H December 31, 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)** |
|  | PRINCIPAL<br>AMOUNT<br>(000s) | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 82.5% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 3.2%**  |  |  |
| **American Axle & Manufacturing, Inc.**<br>TBD% due 02/24/2032 | $225 | $226 |
| **Aspire Bakeries Holdings LLC**<br>7.221% (TSFR1M + 3.500%) due 12/23/2030 ~ | 99 | 100 |
| **Clearwater Analytics LLC**<br>6.210% - 8.272% (TSFR6M + 2.000%) due 04/21/2032 ~ | 100 | 100 |
| **Clover Holdings 2 LLC**  |  |  |
| TBD% - 10.448% due 12/10/2029 ~µ | 20 | 20 |
| 7.522% (TSFR1M + 3.750%) due 12/09/2031 ~ | 199 | 199 |
| **Cotiviti Corp.**  |  |  |
| 6.623% - 7.716% (TSFR1M + 2.750%) due 05/01/2031 ~ | 74 | 71 |
| 6.623% - 7.716% (TSFR1M + 2.750%) due 03/26/2032 ~ | 50 | 48 |
| **Cyberswift U.S. Finco LLC**<br>7.905% (TSFR3M + 4.000%) due 10/08/2032 ~ | 100 | 100 |
| **Finastra USA, Inc.**<br>7.723% (TSFR3M + 4.000%) due 09/15/2032 ~ | 100 | 98 |
| **Fortress Intermediate 3, Inc.**<br>6.784% - 7.566% (TSFR1M + 3.000%) due 06/27/2031 ~ | 99 | 99 |
| **Froneri Lux FinCo SARL**<br>6.122% - 8.639% (TSFR6M + 2.250%) due 09/30/2032 ~ | 100 | 100 |
| **GFL Environmental, Inc.**<br>6.273% - 8.172% (TSFR3M + 2.500%) due 03/03/2032 ~ | 125 | 125 |
| **INEOS Quattro Holdings U.K. Ltd.**<br>8.066% (TSFR1M + 4.250%) due 04/02/2029 ~ | 4 | 3 |
| **INEOS U.S. Finance LLC**<br>6.966% - 7.384% (TSFR1M + 3.250%) due 02/18/2030 ~ | 149 | 122 |
| **Kaseya, Inc.**<br>6.716% - 7.672% (TSFR1M + 3.000%) due 03/20/2032 ~ | 75 | 75 |
| **LifePoint Health, Inc.**<br>7.335% (TSFR1M + 3.500%) due 05/19/2031 ~ | 49 | 49 |
| **Modena Buyer LLC**<br>8.090% (TSFR3M + 4.250%) due 07/01/2031 ~ | 25 | 25 |
| **Neptune Bidco U.S., Inc.**<br>9.027% (TSFR3M + 5.000%) due 04/11/2029 ~ | 75 | 74 |
| **Newfold Digital Holdings Grp Inc.**<br>9.488% (TSFR3M + 5.750%) due 04/30/2029 ~ | 5 | 5 |
| **Paradigm Parent LLC**<br>8.172% (TSFR3M + 4.500%) due 04/16/2032 ~ | 100 | 88 |
| **Petco Health & Wellness Co., Inc.**<br>7.184% - 7.198% (TSFR3M + 3.250%) due 03/03/2028 ~ | 97 | 96 |
| **Primo Brands Corp.**<br>5.922% - 9.100% (TSFR3M + 2.250%) due 03/31/2028 ~ | 98 | 98 |
| **QualityTech LP**<br>7.284% (TSFR1M + 3.500%) due 10/30/2031 ~ | 99 | 100 |
| **Specialty Building Products Holdings LLC**<br>7.566% (TSFR1M + 3.750%) due 10/16/2028 ~ | 223 | 209 |
| **Spirit Airlines, Inc.**  |  |  |
| TBD% due 07/14/2026 | 4 | 4 |
| TBD% - 19.000% due 12/09/2034 ~ | 21 | 18 |
| TBD% (TSFR1M + 8.000%) due 07/14/2026 ~ | 2 | 2 |
| TBD% - 19.000% (TSFR1M + 8.000%) due 12/09/2034 ~ | 8 | 8 |
| **Stepstone Group MidCo 2 GmbH**<br>8.199% (TSFR3M + 4.500%) due 12/19/2031 ~ | 100 | 93 |
| **TK Elevator Midco GmbH**<br>6.947% - 7.384% (TSFR6M + 2.750%) due 04/30/2030 ~ | 50 | 50 |
| **U.S. Renal Care, Inc.**  |  |  |
| TBD% - 9.868% due 09/25/2030 «~µ | 13 | 12 |
| 8.831% (TSFR1M + 5.000%) due 06/28/2028 ~ | 99 | 93 |
| TBD% - 9.868% (TSFR3M + 6.000%) due 09/25/2030 «~ | 100 | 98 |
| **UKG, Inc.**<br>6.338% - 8.000% (TSFR3M + 2.500%) due 02/10/2031 ~ | 49 | 50 |
| **VEON Amsterdam BV**<br>8.206% (TSFR3M + 4.250%) due 03/25/2027 «~ | 75 | 75 |
| **Veritiv Corp.**<br>7.672% (TSFR3M + 4.000%) due 12/02/2030 ~ | 99 | 100 |
| **Vista Management Holding, Inc.**<br>7.735% (TSFR3M + 3.750%) due 04/01/2031 ~ | 74 | 75 |
| **Vistra Zero Operating Co. LLC**<br>5.716% - 9.340% (TSFR1M + 2.000%) due 04/30/2031 ~ | 100 | 99 |
| **X Corp.**  |  |  |
| 9.500% due 10/26/2029 ~ | 50 | 50 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 10.448% (TSFR3M + 6.500%) due 10/26/2029 ~ | 99 | 97 |
| Total Loan Participations and Assignments (Cost $3,169) |  | 3154 |
| **CORPORATE BONDS & NOTES 75.6%**  |  |  |
| **BANKING & FINANCE 13.5%**  |  |  |
| **Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer**  |  |  |
| 6.500% due 10/01/2031  | 25 | 26 |
| 7.000% due 01/15/2031  | 350 | 363 |
| **Allied Universal Holdco LLC/Allied Universal Finance Corp.** <br>6.875% due 06/15/2030 | 325 | 339 |
| **Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL** <br>4.625% due 06/01/2028 | 100 | 99 |
| **Ally Financial, Inc.**  |  |  |
| 5.543% due 01/17/2031 •  | 50 | 51 |
| 8.000% due 11/01/2031  | 50 | 57 |
| **AmWINS Group, Inc.** <br>6.375% due 02/15/2029 | 250 | 257 |
| **ARES Strategic Income Fund** <br>5.150% due 01/15/2031 | 150 | 147 |
| **Asurion LLC & Asurion Co-Issuer, Inc.** <br>8.000% due 12/31/2032 | 500 | 519 |
| **Boost Newco Borrower LLC** <br>7.500% due 01/15/2031 | 250 | 266 |
| **Brandywine Operating Partnership LP** <br>8.875% due 04/12/2029 | 125 | 135 |
| **Bread Financial Holdings, Inc.** <br>6.750% due 05/15/2031 | 125 | 130 |
| **Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC** <br>4.500% due 04/01/2027 | 50 | 50 |
| **Burford Capital Global Finance LLC** <br>6.875% due 04/15/2030 | 350 | 343 |
| **CrossCountry Intermediate HoldCo LLC** <br>6.500% due 10/01/2030 | 125 | 128 |
| **Cushman & Wakefield U.S. Borrower LLC** <br>6.750% due 05/15/2028 | 75 | 75 |
| **Diversified Healthcare Trust** <br>7.250% due 10/15/2030 | 125 | 128 |
| **EF Holdco/EF Cayman Holdings/Ellington Financial REIT Cayman/TRS/EF Cayman Non-MTM** <br>7.375% due 09/30/2030 | 175 | 177 |
| **Encore Capital Group, Inc.**  |  |  |
| 8.500% due 05/15/2030  | 375 | 404 |
| 9.250% due 04/01/2029  | 25 | 26 |
| **Ford Motor Credit Co. LLC** <br>5.918% due 03/20/2028 | 200 | 205 |
| **Freedom Mortgage Holdings LLC**  |  |  |
| 6.875% due 05/01/2031  | 100 | 100 |
| 8.375% due 04/01/2032  | 50 | 53 |
| 9.250% due 02/01/2029  | 450 | 472 |
| **FS KKR Capital Corp.**  |  |  |
| 3.125% due 10/12/2028  | 275 | 254 |
| 6.125% due 01/15/2031  | 100 | 98 |
| **FTAI Aviation Investors LLC**  |  |  |
| 5.500% due 05/01/2028  | 75 | 75 |
| 7.000% due 05/01/2031  | 100 | 105 |
| **HAT Holdings I LLC/HAT Holdings II LLC** <br>3.375% due 06/15/2026 | 22 | 22 |
| **Hudson Pacific Properties LP** <br>3.950% due 11/01/2027 | 125 | 120 |
| **Icahn Enterprises LP/Icahn Enterprises Finance Corp.**  |  |  |
| 5.250% due 05/15/2027  | 75 | 74 |
| 9.000% due 06/15/2030  | 25 | 24 |
| **Intesa Sanpaolo SpA** <br>4.198% due 06/01/2032 •  | 75 | 72 |
| **ION Platform Finance U.S., Inc.** <br>7.875% due 09/30/2032 | 475 | 451 |
| **Iron Mountain, Inc.** <br>4.500% due 02/15/2031 | 375 | 358 |
| **Jane Street Group/JSG Finance, Inc.**  |  |  |
| 6.125% due 11/01/2032  | 75 | 76 |
| 6.750% due 05/01/2033  | 525 | 548 |
| 7.125% due 04/30/2031  | 150 | 158 |
| **Jefferson Capital Holdings LLC** <br>8.250% due 05/15/2030 | 125 | 131 |
| **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.**  |  |  |
| 4.750% due 06/15/2029  | 50 | 49 |
| 5.500% due 08/01/2030  | 150 | 154 |
| **Midcap Financial Issuer Trust** <br>6.500% due 05/01/2028 | 50 | 50 |
| **Millrose Properties, Inc.**  |  |  |
| 6.250% due 09/15/2032  | 100 | 101 |
| 6.375% due 08/01/2030  | 25 | 26 |
| **MPT Operating Partnership LP/MPT Finance Corp.** <br>8.500% due 02/15/2032 | 100 | 107 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Navient Corp.** <br>5.000% due 03/15/2027 | 125 | 125 |
| **Newmark Group, Inc.** <br>7.500% due 01/12/2029 | 75 | 80 |
| **Nissan Motor Acceptance Co. LLC**  |  |  |
| 5.625% due 09/29/2028  | 200 | 201 |
| 7.050% due 09/15/2028  | 475 | 493 |
| **OneMain Finance Corp.**  |  |  |
| 3.500% due 01/15/2027  | 350 | 347 |
| 6.125% due 05/15/2030  | 50 | 51 |
| 6.625% due 01/15/2028  | 400 | 412 |
| 6.625% due 05/15/2029  | 125 | 130 |
| 6.750% due 09/15/2033  | 100 | 101 |
| **Panama Infrastructure Receivable Purchaser PLC** <br>0.000% due 04/05/2032 (c) | 75 | 58 |
| **Panther Escrow Issuer LLC** <br>7.125% due 06/01/2031 | 150 | 155 |
| **Pebblebrook Hotel LP/PEB Finance Corp.** <br>6.375% due 10/15/2029 | 125 | 128 |
| **PennyMac Financial Services, Inc.**  |  |  |
| 4.250% due 02/15/2029  | 125 | 123 |
| 7.125% due 11/15/2030  | 50 | 53 |
| 7.875% due 12/15/2029  | 300 | 319 |
| **RHP Hotel Properties LP/RHP Finance Corp.** <br>4.750% due 10/15/2027 | 75 | 75 |
| **Rocket Cos., Inc.**  |  |  |
| 6.125% due 08/01/2030  | 475 | 491 |
| 7.125% due 02/01/2032  | 125 | 131 |
| **Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.** <br>2.875% due 10/15/2026 | 125 | 123 |
| **SBA Communications Corp.**  |  |  |
| 3.125% due 02/01/2029  | 150 | 144 |
| 3.875% due 02/15/2027  | 100 | 99 |
| **Service Properties Trust**  |  |  |
| 0.000% due 09/30/2028 (c)  | 300 | 271 |
| 5.500% due 12/15/2027  | 50 | 49 |
| **SLM Corp.**  |  |  |
| 3.125% due 11/02/2026  | 125 | 123 |
| 6.500% due 01/31/2030  | 175 | 181 |
| **Starwood Property Trust, Inc.**  |  |  |
| 5.250% due 10/15/2028  | 250 | 253 |
| 5.750% due 01/15/2031  | 150 | 152 |
| 6.000% due 04/15/2030  | 50 | 51 |
| 6.500% due 10/15/2030  | 25 | 26 |
| 7.250% due 04/01/2029  | 50 | 53 |
| **Stonex Escrow Issuer LLC** <br>6.875% due 07/15/2032 | 75 | 78 |
| **Sunrise FinCo I BV** <br>4.875% due 07/15/2031 | 25 | 24 |
| **UniCredit SpA** <br>5.459% due 06/30/2035 •  | 100 | 102 |
| **UWM Holdings LLC** <br>6.250% due 03/15/2031 | 200 | 200 |
| **VFH Parent LLC/Valor Co-Issuer, Inc.** <br>7.500% due 06/15/2031 | 100 | 105 |
| **Vornado Realty LP** <br>3.400% due 06/01/2031 | 175 | 159 |
| **WULF Compute LLC** <br>7.750% due 10/15/2030 | 150 | 155 |
|  |  | 13424 |
| **INDUSTRIALS 59.5%**  |  |  |
| **1011778 BC ULC/New Red Finance, Inc.**  |  |  |
| 3.500% due 02/15/2029  | 125 | 121 |
| 4.000% due 10/15/2030  | 875 | 834 |
| **1261229 BC Ltd.** <br>10.000% due 04/15/2032 | 100 | 104 |
| **Advance Auto Parts, Inc.**  |  |  |
| 7.000% due 08/01/2030  | 100 | 101 |
| 7.375% due 08/01/2033  | 275 | 276 |
| **Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC**  |  |  |
| 3.500% due 03/15/2029  | 175 | 168 |
| 4.625% due 01/15/2027  | 100 | 100 |
| **Albion Financing 1 SARL/Aggreko Holdings, Inc.** <br>7.000% due 05/21/2030 | 350 | 367 |
| **Allison Transmission, Inc.** <br>4.750% due 10/01/2027 | 75 | 75 |
| **Allwyn Entertainment Financing U.K. PLC** <br>7.875% due 04/30/2029 | 100 | 104 |
| **Altice France Lux 3/Altice Holdings 1** <br>10.000% due 01/15/2033 | 20 | 18 |
| **Altice France SA**  |  |  |
| 6.500% due 04/15/2032  | 70 | 67 |
| 9.500% due 11/01/2029  | 325 | 336 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Amer Sports Co.** <br>6.750% due 02/16/2031 | 25 | 26 |
| **American Airlines, Inc./AAdvantage Loyalty IP Ltd.** <br>5.750% due 04/20/2029 | 250 | 255 |
| **American Builders & Contractors Supply Co., Inc.**  |  |  |
| 3.875% due 11/15/2029  | 150 | 145 |
| 4.000% due 01/15/2028  | 200 | 199 |
| **ams-OSRAM AG** <br>12.250% due 03/30/2029 | 225 | 240 |
| **Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC**  |  |  |
| 3.250% due 09/01/2028  | 250 | 241 |
| 6.250% due 01/30/2031  | 100 | 102 |
| **Ascent Resources Utica Holdings LLC/ARU Finance Corp.** <br>6.625% due 10/15/2032 | 50 | 52 |
| **Aston Martin Capital Holdings Ltd.** <br>10.000% due 03/31/2029 | 100 | 93 |
| **Avantor Funding, Inc.** <br>4.625% due 07/15/2028 | 75 | 75 |
| **Avis Budget Car Rental LLC/Avis Budget Finance, Inc.** <br>4.750% due 04/01/2028 | 50 | 49 |
| **Axalta Coating Systems LLC** <br>3.375% due 02/15/2029 | 150 | 145 |
| **Axon Enterprise, Inc.**  |  |  |
| 6.125% due 03/15/2030  | 250 | 259 |
| 6.250% due 03/15/2033  | 50 | 52 |
| **B&G Foods, Inc.** <br>8.000% due 09/15/2028 | 200 | 197 |
| **Ball Corp.** <br>2.875% due 08/15/2030 | 475 | 440 |
| **Bath & Body Works, Inc.** <br>6.875% due 11/01/2035 | 100 | 101 |
| **Bausch & Lomb Corp.** <br>8.375% due 10/01/2028 | 100 | 104 |
| **Beacon Mobility Corp.** <br>7.250% due 08/01/2030 | 350 | 366 |
| **BellRing Brands, Inc.** <br>7.000% due 03/15/2030 | 75 | 78 |
| **Belron U.K. Finance PLC** <br>5.750% due 10/15/2029 | 75 | 77 |
| **BKV Upstream Midstream LLC** <br>7.500% due 10/15/2030 | 200 | 204 |
| **Block, Inc.**  |  |  |
| 3.500% due 06/01/2031  | 75 | 71 |
| 5.625% due 08/15/2030  | 800 | 817 |
| 6.500% due 05/15/2032  | 200 | 208 |
| **Brightstar Lottery PLC** <br>5.250% due 01/15/2029 | 275 | 275 |
| **Builders FirstSource, Inc.**  |  |  |
| 5.000% due 03/01/2030  | 200 | 200 |
| 6.750% due 05/15/2035  | 375 | 393 |
| **BWX Technologies, Inc.** <br>4.125% due 04/15/2029 | 250 | 244 |
| **Cablevision Lightpath LLC** <br>3.875% due 09/15/2027 | 25 | 24 |
| **Caesars Entertainment, Inc.** <br>6.500% due 02/15/2032 | 50 | 51 |
| **Carnival Corp.**  |  |  |
| 5.125% due 05/01/2029  | 300 | 303 |
| 5.750% due 08/01/2032  | 350 | 360 |
| 7.000% due 08/15/2029  | 225 | 236 |
| **Carpenter Technology Corp.** <br>5.625% due 03/01/2034 | 75 | 76 |
| **Carvana Co.** <br>9.000% due 06/01/2030 | 100 | 105 |
| **CCO Holdings LLC/CCO Holdings Capital Corp.**  |  |  |
| 4.500% due 08/15/2030  | 975 | 919 |
| 5.375% due 06/01/2029  | 1200 | 1187 |
| **Celanese U.S. Holdings LLC** <br>6.500% due 04/15/2030 | 175 | 176 |
| **Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.** <br>8.000% due 06/15/2029 | 100 | 87 |
| **Century Communities, Inc.** <br>6.625% due 09/15/2033 | 100 | 101 |
| **Cerdia Finanz GmbH** <br>9.375% due 10/03/2031 | 300 | 312 |
| **Cheplapharm Arzneimittel GmbH** <br>7.125% due 06/15/2031 | 100 | 120 |
| **Chobani LLC/Chobani Finance Corp., Inc.** <br>4.625% due 11/15/2028 | $100 | 100 |
| **Chord Energy Corp.**  |  |  |
| 6.000% due 10/01/2030  | 200 | 203 |
| 6.750% due 03/15/2033  | 200 | 207 |
| **CHS/Community Health Systems, Inc.** <br>9.750% due 01/15/2034 | 600 | 631 |
| **Cipher Compute LLC** <br>7.125% due 11/15/2030 | 100 | 102 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Cirsa Finance International SARL** <br>5.100% (EUR003M + 3.000%) due 10/15/2032 ~ | 100 | 119 |
| **CITGO Petroleum Corp.** <br>8.375% due 01/15/2029 | $50 | 52 |
| **Civitas Resources, Inc.**  |  |  |
| 8.375% due 07/01/2028  | 50 | 52 |
| 8.750% due 07/01/2031  | 225 | 234 |
| **Cleveland-Cliffs, Inc.** <br>7.000% due 03/15/2032 | 325 | 334 |
| **Cloud Software Group, Inc.**  |  |  |
| 6.500% due 03/31/2029  | 125 | 127 |
| 6.625% due 08/15/2033  | 250 | 248 |
| **Clydesdale Acquisition Holdings, Inc.**  |  |  |
| 6.625% due 04/15/2029  | 75 | 77 |
| 6.750% due 04/15/2032  | 50 | 51 |
| 6.875% due 01/15/2030  | 50 | 51 |
| 8.750% due 04/15/2030  | 375 | 382 |
| **CMA CGM SA** <br>5.000% due 01/15/2031 | 100 | 118 |
| **Cogent Communications Group LLC/Cogent Finance, Inc.**  |  |  |
| 6.500% due 07/01/2032  | $175 | 164 |
| 7.000% due 06/15/2027  | 275 | 276 |
| **Commercial Metals Co.** <br>5.750% due 11/15/2033 | 100 | 102 |
| **CommScope LLC** <br>4.750% due 09/01/2029 | 40 | 40 |
| **Comstock Resources, Inc.** <br>5.875% due 01/15/2030 | 200 | 195 |
| **CoreWeave, Inc.**  |  |  |
| 9.000% due 02/01/2031  | 175 | 161 |
| 9.250% due 06/01/2030  | 250 | 233 |
| **CQP Holdco LP/BIP-V Chinook Holdco LLC** <br>5.500% due 06/15/2031 | 400 | 396 |
| **Crescent Energy Finance LLC**  |  |  |
| 7.375% due 01/15/2033  | 75 | 71 |
| 7.625% due 04/01/2032  | 200 | 194 |
| **Crocs, Inc.**  |  |  |
| 4.125% due 08/15/2031  | 25 | 23 |
| 4.250% due 03/15/2029  | 25 | 24 |
| **Crowdstrike Holdings, Inc.** <br>3.000% due 02/15/2029 | 325 | 312 |
| **Crown Americas LLC** <br>5.875% due 06/01/2033 | 125 | 128 |
| **DaVita, Inc.**  |  |  |
| 4.625% due 06/01/2030  | 325 | 316 |
| 6.875% due 09/01/2032  | 50 | 52 |
| **Dcli Bidco LLC** <br>7.750% due 11/15/2029 | 150 | 154 |
| **Deluxe Corp.** <br>8.125% due 09/15/2029 | 25 | 26 |
| **Diamond Foreign Asset Co./Diamond Finance LLC** <br>8.500% due 10/01/2030 | 300 | 319 |
| **Directv Financing LLC/Directv Financing Co-Obligor, Inc.**  |  |  |
| 5.875% due 08/15/2027  | 93 | 94 |
| 10.000% due 02/15/2031  | 200 | 205 |
| **Dream Finders Homes, Inc.** <br>6.875% due 09/15/2030 | 100 | 101 |
| **EchoStar Corp.** <br>10.750% due 11/30/2029 | 440 | 487 |
| **Efesto Bidco SpA Efesto U.S. LLC** <br>7.500% due 02/15/2032 | 300 | 304 |
| **Ellucian Holdings, Inc.** <br>6.500% due 12/01/2029 | 225 | 230 |
| **Esab Corp.** <br>6.250% due 04/15/2029 | 50 | 51 |
| **EW Scripps Co.** <br>9.875% due 08/15/2030 | 50 | 50 |
| **Excelerate Energy LP** <br>8.000% due 05/15/2030 | 100 | 106 |
| **First Student Bidco, Inc./First Transit Parent, Inc.** <br>4.000% due 07/31/2029 | 200 | 195 |
| **Fortescue Treasury Pty. Ltd.** <br>4.500% due 09/15/2027 | 200 | 200 |
| **Froneri Lux FinCo SARL** <br>6.000% due 08/01/2032 | 275 | 279 |
| **Frontier Communications Holdings LLC** <br>5.875% due 10/15/2027 | 150 | 151 |
| **Gap, Inc.** <br>3.875% due 10/01/2031 | 100 | 93 |
| **GFL Environmental, Inc.** <br>4.375% due 08/15/2029 | 425 | 418 |
| **Global Medical Response, Inc.** <br>7.375% due 10/01/2032 | 250 | 260 |
| **Go Daddy Operating Co. LLC/GD Finance Co., Inc.** <br>3.500% due 03/01/2029 | 100 | 96 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Goat Holdco LLC** <br>6.750% due 02/01/2032 | 50 | 51 |
| **goeasy Ltd.**  |  |  |
| 7.375% due 10/01/2030  | 250 | 241 |
| 7.625% due 07/01/2029  | 150 | 148 |
| **Gray Media, Inc.**  |  |  |
| 7.250% due 08/15/2033  | 200 | 204 |
| 9.625% due 07/15/2032  | 100 | 104 |
| **Grifols SA** <br>4.750% due 10/15/2028 | 200 | 198 |
| **HealthEquity, Inc.** <br>4.500% due 10/01/2029 | 200 | 197 |
| **Hilton Domestic Operating Co., Inc.**  |  |  |
| 3.625% due 02/15/2032  | 175 | 163 |
| 4.000% due 05/01/2031  | 400 | 383 |
| **Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.** <br>6.625% due 01/15/2032 | 150 | 154 |
| **Hologic, Inc.** <br>3.250% due 02/15/2029 | 250 | 247 |
| **Howard Midstream Energy Partners LLC**  |  |  |
| 6.625% due 01/15/2034  | 275 | 283 |
| 7.375% due 07/15/2032  | 50 | 53 |
| **Imola Merger Corp.** <br>4.750% due 05/15/2029 | 150 | 148 |
| **INEOS Finance PLC** <br>7.250% due 03/31/2031 | 100 | 102 |
| **Ingevity Corp.** <br>3.875% due 11/01/2028 | $375 | 367 |
| **Intralot Capital Luxembourg SA** <br>6.750% due 10/15/2031 | 300 | 352 |
| **Inversion Escrow Issuer LLC** <br>6.750% due 08/01/2032 | $200 | 200 |
| **IQVIA, Inc.** <br>6.250% due 06/01/2032 | 375 | 392 |
| **Jazz Securities DAC** <br>4.375% due 01/15/2029 | 25 | 25 |
| **JetBlue Airways Corp./JetBlue Loyalty LP** <br>9.875% due 09/20/2031 | 350 | 353 |
| **KBR, Inc.** <br>4.750% due 09/30/2028 | 75 | 74 |
| **Kinetik Holdings LP** <br>6.625% due 12/15/2028 | 150 | 155 |
| **Kraken Oil & Gas Partners LLC** <br>7.625% due 08/15/2029 | 150 | 149 |
| **Lamar Media Corp.**  |  |  |
| 3.625% due 01/15/2031  | 100 | 94 |
| 4.000% due 02/15/2030  | 50 | 48 |
| **Level 3 Financing, Inc.**  |  |  |
| 6.875% due 06/30/2033  | 300 | 307 |
| 7.000% due 03/31/2034  | 50 | 52 |
| **LifePoint Health, Inc.** <br>11.000% due 10/15/2030 | 125 | 137 |
| **Lindblad Expeditions LLC** <br>7.000% due 09/15/2030 | 15 | 16 |
| **Lithia Motors, Inc.** <br>5.500% due 10/01/2030 | 200 | 201 |
| **Live Nation Entertainment, Inc.** <br>4.750% due 10/15/2027 | 450 | 451 |
| **Manuchar Group SARL** <br>7.100% due 07/07/2032 •  | 100 | 113 |
| **Matador Resources Co.**  |  |  |
| 6.250% due 04/15/2033  | $50 | 50 |
| 6.500% due 04/15/2032  | 125 | 127 |
| **Match Group Holdings II LLC** <br>4.625% due 06/01/2028 | 225 | 224 |
| **Mauser Packaging Solutions Holding Co.** <br>7.875% due 04/15/2030 | 100 | 99 |
| **McGraw-Hill Education, Inc.** <br>7.375% due 09/01/2031 | 50 | 53 |
| **Medline Borrower LP**  |  |  |
| 3.875% due 04/01/2029  | 675 | 659 |
| 5.250% due 10/01/2029  | 150 | 151 |
| **Merlin Entertainments Group U.S. Holdings, Inc.** <br>7.375% due 02/15/2031 | 225 | 201 |
| **MGM China Holdings Ltd.** <br>4.750% due 02/01/2027 | 75 | 75 |
| **Mineral Resources Ltd.**  |  |  |
| 7.000% due 04/01/2031  | 100 | 104 |
| 9.250% due 10/01/2028  | 25 | 26 |
| **Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC** <br>6.750% due 04/01/2032 | 25 | 26 |
| **Molina Healthcare, Inc.** <br>3.875% due 11/15/2030 | 225 | 209 |
| **Moss Creek Resources Holdings, Inc.** <br>8.250% due 09/01/2031 | 38 | 36 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Motion Finco SARL** <br>8.375% due 02/15/2032 | 50 | 45 |
| **MPH Acquisition Holdings LLC** <br>5.750% due 12/31/2030 | 13 | 12 |
| **MPH Acquisition Holdings LLC (6.500% Cash and 5.000% PIK)** <br>11.500% due 12/31/2030 (a) | 7 | 8 |
| **Murphy Oil USA, Inc.** <br>3.750% due 02/15/2031 | 150 | 141 |
| **Nabors Industries, Inc.** <br>7.625% due 11/15/2032 | 250 | 246 |
| **National Mentor Holdings, Inc.** <br>10.500% due 12/15/2030 | 275 | 277 |
| **NCR Atleos Corp.** <br>9.500% due 04/01/2029 | 25 | 27 |
| **Neptune Bidco U.S., Inc.** <br>10.375% due 05/15/2031 | 100 | 103 |
| **Newell Brands, Inc.** <br>6.375% due 05/15/2030 | 150 | 147 |
| **Newfold Digital Holdings Group, Inc.** <br>11.750% due 04/30/2029 | 97 | 89 |
| **Nissan Motor Co. Ltd.**  |  |  |
| 4.345% due 09/17/2027  | 100 | 99 |
| 8.125% due 07/17/2035  | 200 | 213 |
| **Noble Finance II LLC** <br>8.000% due 04/15/2030 | 350 | 364 |
| **Nordstrom, Inc.** <br>5.000% due 01/15/2044 | 200 | 151 |
| **Northriver Midstream Finance LP** <br>6.750% due 07/15/2032 | 75 | 76 |
| **Novelis Corp.**  |  |  |
| 3.875% due 08/15/2031  | 375 | 342 |
| 6.375% due 08/15/2033  | 100 | 101 |
| 6.875% due 01/30/2030  | 100 | 104 |
| **Olympus Water U.S. Holding Corp.**  |  |  |
| 4.250% due 10/01/2028  | 150 | 146 |
| 6.125% due 02/15/2033  | 100 | 117 |
| 7.250% due 06/15/2031  | $75 | 77 |
| **ON Semiconductor Corp.** <br>3.875% due 09/01/2028 | 75 | 74 |
| **Opal Bidco SAS** <br>6.500% due 03/31/2032 | 50 | 51 |
| **Open Text Corp.**  |  |  |
| 3.875% due 02/15/2028  | 100 | 98 |
| 3.875% due 12/01/2029  | 175 | 166 |
| **Option Care Health, Inc.** <br>4.375% due 10/31/2029 | 150 | 147 |
| **Organon & Co./Organon Foreign Debt Co-Issuer BV** <br>4.125% due 04/30/2028 | 375 | 367 |
| **Paradigm Parent LLC & Paradigm Parent Co-Issuer, Inc.** <br>8.750% due 04/17/2032 | 100 | 91 |
| **Paramount Global** <br>4.375% due 03/15/2043 | 100 | 70 |
| **Park River Holdings, Inc.** <br>8.000% due 03/15/2031 | 100 | 104 |
| **Performance Food Group, Inc.** <br>4.250% due 08/01/2029 | 350 | 343 |
| **Permian Resources Operating LLC** <br>6.250% due 02/01/2033 | 375 | 385 |
| **Pilgrim's Pride Corp.** <br>3.500% due 03/01/2032 | 250 | 231 |
| **Post Holdings, Inc.**  |  |  |
| 4.500% due 09/15/2031  | 225 | 213 |
| 4.625% due 04/15/2030  | 425 | 414 |
| 6.250% due 10/15/2034  | 25 | 25 |
| **Prestige Brands, Inc.** <br>3.750% due 04/01/2031 | 100 | 94 |
| **Prime Healthcare Services, Inc.** <br>9.375% due 09/01/2029 | 100 | 105 |
| **Prime Security Services Borrower LLC/Prime Finance, Inc.**  |  |  |
| 3.375% due 08/31/2027  | 450 | 442 |
| 5.750% due 04/15/2026  | 8 | 8 |
| **Primo Water Holdings, Inc./Triton Water Holdings, Inc.** <br>4.375% due 04/30/2029 | 275 | 268 |
| **Qnity Electronics, Inc.** <br>5.750% due 08/15/2032 | 275 | 281 |
| **Quikrete Holdings, Inc.**  |  |  |
| 6.375% due 03/01/2032  | 50 | 52 |
| 6.750% due 03/01/2033  | 375 | 392 |
| **QXO Building Products, Inc.** <br>6.750% due 04/30/2032 | 425 | 444 |
| **Rakuten Group, Inc.** <br>9.750% due 04/15/2029 | 350 | 392 |
| **Range Resources Corp.** <br>4.750% due 02/15/2030 | 100 | 99 |
| **Raven Acquisition Holdings LLC** <br>6.875% due 11/15/2031 | 150 | 155 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **RB Global Holdings, Inc.** <br>6.750% due 03/15/2028 | 50 | 51 |
| **ROBLOX Corp.** <br>3.875% due 05/01/2030 | 75 | 72 |
| **Seadrill Finance Ltd.** <br>8.375% due 08/01/2030 | 275 | 286 |
| **Seagate Data Storage Technology Pte. Ltd.**  |  |  |
| 4.091% due 06/01/2029  | 325 | 319 |
| 4.125% due 01/15/2031  | 75 | 72 |
| 5.750% due 12/01/2034  | 75 | 77 |
| **Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed** <br>4.625% due 03/01/2029 | 425 | 410 |
| **Sirius XM Radio LLC** <br>4.000% due 07/15/2028 | 775 | 759 |
| **SM Energy Co.**  |  |  |
| 6.750% due 08/01/2029  | 50 | 50 |
| 7.000% due 08/01/2032  | 75 | 74 |
| **Snap, Inc.**  |  |  |
| 6.875% due 03/01/2033  | 75 | 78 |
| 6.875% due 03/15/2034  | 375 | 386 |
| **Sotera Health Holdings LLC** <br>7.375% due 06/01/2031 | 25 | 26 |
| **Stagwell Global LLC** <br>5.625% due 08/15/2029 | 225 | 220 |
| **Standard Industries, Inc.** <br>4.750% due 01/15/2028 | 475 | 474 |
| **Staples, Inc.** <br>10.750% due 09/01/2029 | 75 | 75 |
| **Star Parent, Inc.** <br>9.000% due 10/01/2030 | 150 | 160 |
| **Station Casinos LLC**  |  |  |
| 4.500% due 02/15/2028  | 125 | 124 |
| 4.625% due 12/01/2031  | 275 | 261 |
| **Stonepeak Nile Parent LLC** <br>7.250% due 03/15/2032 | 225 | 238 |
| **Sunoco LP**  |  |  |
| 5.625% due 03/15/2031  | 300 | 302 |
| 6.625% due 08/15/2032  | 50 | 51 |
| 7.000% due 05/01/2029  | 75 | 78 |
| **Taylor Morrison Communities, Inc.** <br>5.750% due 11/15/2032 | 100 | 103 |
| **Tenet Healthcare Corp.**  |  |  |
| 4.625% due 06/15/2028  | 250 | 251 |
| 5.500% due 11/15/2032  | 200 | 203 |
| **TGS ASA** <br>8.500% due 01/15/2030 | 50 | 52 |
| **Tidewater, Inc.** <br>9.125% due 07/15/2030 | 100 | 107 |
| **TopBuild Corp.** <br>4.125% due 02/15/2032 | 375 | 356 |
| **Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC** <br>9.500% due 05/15/2030 | 225 | 225 |
| **TransDigm, Inc.**  |  |  |
| 4.625% due 01/15/2029  | 75 | 75 |
| 6.375% due 03/01/2029  | 1125 | 1162 |
| 6.750% due 01/31/2034  | 50 | 52 |
| **Transocean International Ltd.**  |  |  |
| 7.875% due 10/15/2032  | 300 | 315 |
| 8.750% due 02/15/2030  | 56 | 59 |
| **Trivium Packaging Finance BV** <br>8.250% due 07/15/2030 | 315 | 338 |
| **Twilio, Inc.** <br>3.875% due 03/15/2031 | 125 | 120 |
| **U.S. Acute Care Solutions LLC** <br>9.750% due 05/15/2029 | 25 | 25 |
| **U.S. Foods, Inc.**  |  |  |
| 4.750% due 02/15/2029  | 150 | 149 |
| 5.750% due 04/15/2033  | 225 | 229 |
| **UKG, Inc.** <br>6.875% due 02/01/2031 | 400 | 412 |
| **United Airlines, Inc.** <br>4.625% due 04/15/2029 | 125 | 125 |
| **United Rentals North America, Inc.**  |  |  |
| 3.750% due 01/15/2032  | 475 | 447 |
| 3.875% due 02/15/2031  | 125 | 119 |
| **Univision Communications, Inc.**  |  |  |
| 4.500% due 05/01/2029  | 50 | 48 |
| 8.500% due 07/31/2031  | 50 | 52 |
| 9.375% due 08/01/2032  | 500 | 538 |
| **USA Compression Partners LP/USA Compression Finance Corp.** <br>7.125% due 03/15/2029 | 125 | 129 |
| **Valaris Ltd.** <br>8.375% due 04/30/2030 | 500 | 521 |
| **Venture Global Calcasieu Pass LLC**  |  |  |
| 3.875% due 08/15/2029  | 225 | 211 |
| 4.125% due 08/15/2031  | 250 | 228 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Venture Global LNG, Inc.**  |  |  |
| 7.000% due 01/15/2030  | 50 | 48 |
| 9.500% due 02/01/2029  | 500 | 519 |
| 9.875% due 02/01/2032  | 750 | 775 |
| **Venture Global Plaquemines LNG LLC**  |  |  |
| 6.125% due 12/15/2030  | 100 | 102 |
| 6.500% due 01/15/2034  | 100 | 102 |
| 6.750% due 01/15/2036  | 100 | 102 |
| 7.500% due 05/01/2033  | 50 | 54 |
| 7.750% due 05/01/2035  | 275 | 301 |
| **Versant Media Group, Inc.** <br>7.250% due 01/30/2031 | 175 | 181 |
| **Vertiv Group Corp.** <br>4.125% due 11/15/2028 | 100 | 99 |
| **Viking Cruises Ltd.** <br>9.125% due 07/15/2031 | 175 | 187 |
| **Virgin Media Secured Finance PLC** <br>4.500% due 08/15/2030 | 875 | 813 |
| **VistaJet Malta Finance PLC/Vista Management Holding, Inc.** <br>6.375% due 02/01/2030 | 175 | 167 |
| **Vital Energy, Inc.** <br>7.875% due 04/15/2032 | 45 | 44 |
| **Vmed O2 U.K. Financing I PLC**  |  |  |
| 4.750% due 07/15/2031  | 400 | 370 |
| 6.750% due 01/15/2033  | 200 | 198 |
| **VOC Escrow Ltd.** <br>5.000% due 02/15/2028 | 425 | 425 |
| **Voyager Parent LLC** <br>9.250% due 07/01/2032 | 100 | 106 |
| **VZ Secured Financing BV**  |  |  |
| 5.000% due 01/15/2032  | 250 | 226 |
| 7.500% due 01/15/2033  | 525 | 532 |
| **Warnermedia Holdings, Inc.**  |  |  |
| 4.279% due 03/15/2032  | 600 | 527 |
| 5.050% due 03/15/2042  | 275 | 194 |
| **Wayfair LLC** <br>6.750% due 11/15/2032 | 175 | 180 |
| **WBI Operating LLC**  |  |  |
| 6.250% due 10/15/2030  | 150 | 151 |
| 6.500% due 10/15/2033  | 100 | 100 |
| **Weatherford International Ltd.** <br>6.750% due 10/15/2033 | 300 | 307 |
| **Western Digital Corp.** <br>4.750% due 02/15/2026 | 22 | 22 |
| **Whirlpool Corp.** <br>6.125% due 06/15/2030 | 25 | 25 |
| **Windstream Services LLC/Windstream Escrow Finance Corp.** <br>8.250% due 10/01/2031 | 200 | 210 |
| **WR Grace Holdings LLC** <br>6.625% due 08/15/2032 | 225 | 228 |
| **Wyndham Hotels & Resorts, Inc.** <br>4.375% due 08/15/2028 | 100 | 99 |
| **Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.**  |  |  |
| 6.250% due 03/15/2033  | 25 | 26 |
| 7.125% due 02/15/2031  | 375 | 406 |
| **Yum! Brands, Inc.**  |  |  |
| 3.625% due 03/15/2031  | 225 | 213 |
| 4.750% due 01/15/2030  | 100 | 100 |
| **Zayo Group Holdings, Inc. (5.750% Cash and 0.500% PIK)** <br>6.250% due 03/09/2030 (a) | 87 | 83 |
| **ZF North America Capital, Inc.**  |  |  |
| 6.875% due 04/14/2028  | 325 | 333 |
| 7.500% due 03/24/2031  | 150 | 152 |
| **Ziggo BV** <br>4.875% due 01/15/2030 | 100 | 95 |
| **ZipRecruiter, Inc.** <br>5.000% due 01/15/2030 | 50 | 39 |
| **ZoomInfo Technologies LLC/ZoomInfo Finance Corp.** <br>3.875% due 02/01/2029 | 75 | 71 |
|  |  | 58834 |
| **UTILITIES 2.6%**  |  |  |
| **Aethon United BR LP/Aethon United Finance Corp.** <br>7.500% due 10/01/2029 | 50 | 52 |
| **Altice Holdings 1 SARL** <br>0.010% due 12/31/2099 « | 0 | 1 |
| **Calpine Corp.** <br>4.500% due 02/15/2028 | $175 | 175 |
| **Clearway Energy Operating LLC** <br>3.750% due 02/15/2031 | 175 | 164 |
| **Edison International** <br>8.125% due 06/15/2053 •  | 75 | 78 |
| **Electricite de France SA** <br>9.125% due 03/15/2033 •(d) | 75 | 88 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **FORESEA Holding SA** <br>7.500% due 06/15/2030 | 100 | 99 |
| **Genesis Energy LP/Genesis Energy Finance Corp.**  |  |  |
| 7.875% due 05/15/2032  | 100 | 104 |
| 8.250% due 01/15/2029  | 150 | 157 |
| **Hawaiian Electric Co., Inc.** <br>6.000% due 10/01/2033 | 75 | 76 |
| **Hilcorp Energy I LP/Hilcorp Finance Co.**  |  |  |
| 6.000% due 02/01/2031  | 225 | 215 |
| 6.875% due 05/15/2034  | 50 | 47 |
| **NGL Energy Operating LLC/NGL Energy Finance Corp.** <br>8.375% due 02/15/2032 | 75 | 78 |
| **NRG Energy, Inc.** <br>5.750% due 07/15/2029 | 450 | 450 |
| **PBF Holding Co. LLC/PBF Finance Corp.** <br>6.000% due 02/15/2028 | 125 | 124 |
| **TerraForm Power Operating LLC** <br>5.000% due 01/31/2028 | 175 | 175 |
| **TXNM Energy, Inc.** <br>7.000% due 07/31/2056 •  | 125 | 125 |
| **Vodafone Group PLC** <br>5.125% due 06/04/2081 •  | 175 | 137 |
| **VoltaGrid LLC** <br>7.375% due 11/01/2030 | 150 | 149 |
| **Yinson Production Financial Services Pte. Ltd.** <br>9.625% due 05/03/2029 | 50 | 52 |
|  |  | 2546 |
| Total Corporate Bonds & Notes (Cost $73,752) |  | 74804 |
| **U.S. TREASURY OBLIGATIONS 3.5%**  |  |  |
| **U.S. Treasury Notes**  |  |  |
| 3.250% due 06/30/2027 | 2450 | 2442 |
| 4.000% due 02/15/2034 | 1025 | 1022 |
| Total U.S. Treasury Obligations (Cost $3,418) |  | 3464 |
|  | SHARES |  |
| **COMMON STOCKS 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **Luxco Co. Ltd. «(b)(f)** | 609 | 11 |
| **Spirit Aviation Holdings, Inc. (b)** | 1490 | 0 |
| Total Common Stocks (Cost $33) |  | 11 |
| **WARRANTS 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **Spirit Aviation Holdings, Inc. - Exp. 03/11/2035 «** | 1693 | 0 |
| Total Warrants (Cost $21) |  | 0 |
| **SHORT-TERM INSTRUMENTS 0.2%**  |  |  |
| **MUTUAL FUNDS 0.2%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.850% (e) | 191088 | 191 |
| Total Short-Term Instruments (Cost $191) |  | 191 |
| Total Investments in Securities (Cost $80,584) |  | 81624 |
| **INVESTMENTS IN AFFILIATES 14.9%**  |  |  |
| **SHORT-TERM INSTRUMENTS 14.9%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 14.9%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 1511299 | 14722 |
| Total Short-Term Instruments (Cost $14,717) |  | 14722 |
| Total Investments in Affiliates (Cost $14,717) |  | 14722 |
| Total Investments 97.4% (Cost $95,301) |  | $96346 |
| **Financial Derivative Instruments (g)(h) (0.0)**%(Cost or Premiums, net $859) |  | (24) |
| Other Assets and Liabilities, net 2.6% |  | 2600 |
| Net Assets 100.0% |  | $98922 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 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:**  |
| **\* 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.** |
| **«** | **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).** |
| **µ** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **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.** |
| **(a)** | **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.** |
| **(b)** | **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.** |
| **(c)** | **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.** |
| **(d)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **(e)** | **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.** |
| **(f)** | **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 |  | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
| Luxco Co. Ltd. | Luxco Co. Ltd. | Luxco Co. Ltd. |  | 10/01/2025 | 10/01/2025 | 11 | $ | 11 | 0.01% |
| **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** |
| **The average amount of borrowings outstanding during the period ended December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. 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 December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. 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 December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. 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 December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. 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 December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. 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 December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. 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 December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. 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 December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. 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 December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. 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 December 31, 2025 was $(369) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** |
| **(g)** | **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:** |
| **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) | Asset | Asset | Liability |
| Long Guilt March Futures  | Long Guilt March Futures  | 03/2026 | 7 | 862 | $6 | 6 | 1 | 1 | (1) |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 30 | 6264 | 5 | 5 | 0 | 0 | (2) |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 81 | 8854 | (1) | (1) | 0 | 0 | (8) |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 2 | 236 | (1) | (1) | 0 | 0 | (1) |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 9 | 1035 | (2) | (2) | 0 | 0 | (1) |
|  |  |  |  |  | 7 | $ | 1 | $ | (13) |
| **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> |
| Description | Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| Euro-Bobl March Futures  | Euro-Bobl March Futures  | 03/2026 | 1 | (137) | $1 | 1 | 0 | 0 | 0 |
| Euro-Bund March Futures  | Euro-Bund March Futures  | 03/2026 | 1 | (150) | 2 | 2 | 0 | 0 | 0 |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 8 | (900) | 2 | 2 | 2 | 2 | 0 |
|  |  |  |  |  | 5 | $ | 2 | $ | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **12** | **$** | **3** | **$** | **(13)** |
| **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 - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Reference Entity | Maturity<br>Date | Implied<br>Credit Spread at<br>December 31, 2025<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Market<br>Value<sup>(4)</sup> | Asset | Liability |
| Bombardier, Inc.  | 12/20/2028 | 0.623 | $125 | 12 | 4 | 16 | 16 | 0 | $0 |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Calpine Corp.  | Calpine Corp.  | Calpine Corp.  | 5.000 | 5.000 | Quarterly | 12/20/2028 | 12/20/2028 | 0.439 | 0.439 |  |  | 100 | 100 |  | 10 |  | 3 | 3 | 13 | 13 | 0 |  | 0 |
| Carnival Corp.  | Carnival Corp.  | Carnival Corp.  | 1.000 | 1.000 | Quarterly | 12/20/2028 | 12/20/2028 | 0.655 | 0.655 |  |  | 175 | 175 |  | (14) |  | 16 | 16 | 2 | 2 | 0 |  | 0 |
| ZF Europe Finance BV  | ZF Europe Finance BV  | ZF Europe Finance BV  | 5.000 | 5.000 | Quarterly | 06/20/2030 | 06/20/2030 | 3.148 | 3.148 |  | EUR | 25 | 25 |  | 1 |  | 1 | 1 | 2 | 2 | 0 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 9 | 9 | 24 | 24 | 33 | 33 | 0 | 0 | 0 |
| **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> | **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> | **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>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date |  | Notional<br>Amount<sup>(3)</sup> | Notional<br>Amount<sup>(3)</sup> | Notional<br>Amount<sup>(3)</sup> |  | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Market<br>Value<sup>(4)</sup> | Asset |  | Liability |
| CDX.HY-43 5-Year Index  | CDX.HY-43 5-Year Index  | CDX.HY-43 5-Year Index  | CDX.HY-43 5-Year Index  | 5.000% | Quarterly | Quarterly | 12/20/2029 | 12/20/2029 | 12/20/2029 | $ | 500 | 500 | 500 | $ | 35 | $ | 4 | 4 | 39 | 39 | 0 | $ | 0 |
| CDX.HY-44 5-Year Index  | CDX.HY-44 5-Year Index  | CDX.HY-44 5-Year Index  | CDX.HY-44 5-Year Index  | 5.000 | Quarterly | Quarterly | 06/20/2030 | 06/20/2030 | 06/20/2030 |  | 400 | 400 | 400 |  | 11 |  | 21 | 21 | 32 | 32 | 0 |  | 0 |
| CDX.HY-45 5-Year Index  | CDX.HY-45 5-Year Index  | CDX.HY-45 5-Year Index  | CDX.HY-45 5-Year Index  | 5.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 |  | 10700 | 10700 | 10700 |  | 816 |  | 16 | 16 | 832 | 832 | 0 |  | (5) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 862 | $ | 41 | 41 | 903 | 903 | 0 | $ | (5) |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | 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 | Maturity<br>Date |  | Notional<br>Amount | Notional<br>Amount | 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 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250% | 3.250% | Annual | Annual | 06/18/2030 | $ | $200 | 200 | 200 | 200 | 3 | 3 | (1) | (1) | $2 | 2 | 0 | 0 | $0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 12/17/2032 |  | 500 | 500 | 500 | 500 | (12) | (12) | 7 | 7 | (5) | (5) | 1 | 1 | 0 |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.000 | 4.000 | Annual | Annual | 03/18/2036 |  | 400 | 400 | 400 | 400 | (7) | (7) | 1 | 1 | (6) | (6) | 1 | 1 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | Annual | 12/17/2055 |  | 800 | 800 | 800 | 800 | 10 | 10 | 47 | 47 | 57 | 57 | 3 | 3 | 0 |
| Pay | Pay | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 4.000 | 4.000 | Semi-Annual | Semi-Annual | 12/17/2035 | AUD | 900 | 900 | 900 | 900 | (6) | (6) | (32) | (32) | (38) | (38) | 0 | 0 | (1) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (12) | $ | 22 | 22 | 10 | 10 | 5 | $ | (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** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **859** | **$** | **87** | **87** | **946** | **946** | **5** | **$** | **(6)** |
| **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Cash of $1,449 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <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. | 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>(2)</sup> | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. |
| <sup>(3)</sup> | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. | 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. | 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. | 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>(5)</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. | 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. |
| **(h)** | **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** | **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** |
| **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:** | **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:** | **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> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month |  | Currency to<br>be Delivered | Currency to<br>be Delivered | Currency to<br>be Delivered | Currency to<br>be Delivered | 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 | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 01/2026  | 01/2026  | 01/2026  | 01/2026  | $ | $128 | 128 | 128 | 128 | 128 | 128 | 110 | 110 | 110 | $ | 2 | 2 | $0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 01/2026  | 01/2026  | 01/2026  | EUR | 1051 | 1051 | 1051 | 1051 | 1051 | 1051 | $1221 | 1221 | 1221 |  | 0 | 0 | (15) | (15) | (15) |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | **$** | **2** | **2** | **(15)** | **(15)** | **(15)** |
| **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** | **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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 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 December 31, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |  |
| **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** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |  |
| Loan Participations and Assignments | 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 | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | $0 | 0 | 0 | $ | 2969 | $ | 185 | $ | 3154 | 3154 |  |
| 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 | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |  |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | 0 | 0 | 0 |  | 13424 |  | 0 |  | 13424 | 13424 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 0 |  | 58834 |  | 0 |  | 58834 | 58834 |  |
| Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | 0 | 0 | 0 |  | 2545 |  | 1 |  | 2546 | 2546 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 | 0 |  | 3464 |  | 0 |  | 3464 | 3464 |  |
| 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 | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |  |

---

------

<br> Schedule of Investments Sector Funds: PIMCO Sector Fund Series – H (Cont.) December 31, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Industrials | 0 | 0 | 11 | 11 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | 0 | 191 | 0 | 191 |
|  | $0 | $81427 | $197 | $81624 |
| **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 | $14722 | $0 | $0 | $14722 |
| Total Investments | $14722 | $81427 | $197 | $96346 |
| **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 | 1 | 7 | 0 | 8 |
| Over the counter | 0 | 2 | 0 | 2 |
|  | $1 | $9 | $0 | $10 |
| **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 | (1) | (18) | 0 | (19) |
| Over the counter | 0 | (15) | 0 | (15) |
|  | $(1) | $(33) | $0 | $(34) |
| Total Financial Derivative Instruments | $0 | $(24) | $0 | $(24) |
| Totals | $14722 | $81403 | $197 | $96322 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio December 31, 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 101.0% ¤** |  |  |
| **CORPORATE BONDS & NOTES 51.7%**  |  |  |
| **BANKING & FINANCE 33.2%**  |  |  |
| **ABN AMRO Bank NV**  |  |  |
| 4.751% (SOFRINDX + 1.000%) due 12/03/2028 ~  | $30925 | $31041 |
| 5.505% due 09/18/2027 •  | 4200 | 4237 |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**  |  |  |
| 1.750% due 01/30/2026  | 10534 | 10516 |
| 2.450% due 10/29/2026  | 30204 | 29802 |
| 6.100% due 01/15/2027  | 5000 | 5096 |
| **Air Lease Corp.**  |  |  |
| 1.875% due 08/15/2026  | 23060 | 22723 |
| 2.200% due 01/15/2027  | 4045 | 3964 |
| 2.875% due 01/15/2026  | 9275 | 9270 |
| 3.750% due 06/01/2026  | 4961 | 4953 |
| **American Express Co.**  |  |  |
| 4.498% (SOFRINDX + 0.650%) due 11/04/2026 ~  | 1300 | 1305 |
| 4.857% (SOFRINDX + 0.970%) due 07/28/2027 ~  | 3336 | 3348 |
| **American Honda Finance Corp.**  |  |  |
| 4.470% due 03/08/2027 •  | 2400 | 2406 |
| 4.544% due 08/13/2027 •  | 21700 | 21750 |
| 4.849% (SOFRRATE + 0.870%) due 07/09/2027 ~  | 37100 | 37287 |
| **American Tower Corp.**  |  |  |
| 1.450% due 09/15/2026  | 920 | 904 |
| 1.600% due 04/15/2026  | 2242 | 2227 |
| 2.750% due 01/15/2027  | 4171 | 4118 |
| 3.375% due 10/15/2026  | 5302 | 5275 |
| 4.400% due 02/15/2026  | 1610 | 1610 |
| **Aozora Bank Ltd.** <br>5.900% due 09/08/2026 | 1000 | 1009 |
| **Athene Global Funding**  |  |  |
| 1.608% due 06/29/2026  | 901 | 890 |
| 4.675% (SOFRINDX + 0.850%) due 05/08/2026 ~  | 3152 | 3157 |
| 4.696% due 07/16/2026 •  | 42000 | 42067 |
| 4.725% due 09/18/2028 •  | 13600 | 13542 |
| 4.805% (SOFRINDX + 1.030%) due 08/27/2026 ~  | 22040 | 22117 |
| 4.824% (SOFRINDX + 0.830%) due 01/07/2027 ~  | 8700 | 8720 |
| 4.938% (SOFRINDX + 1.210%) due 03/25/2027 ~  | 199 | 200 |
| **Aviation Capital Group LLC** <br>1.950% due 09/20/2026 | 18190 | 17900 |
| **Avolon Holdings Funding Ltd.**  |  |  |
| 2.125% due 02/21/2026  | 11626 | 11589 |
| 2.528% due 11/18/2027  | 1493 | 1449 |
| **Banco Santander SA** <br>1.722% due 09/14/2027 •  | 11746 | 11549 |
| **Bank of America Corp.** <br>1.734% due 07/22/2027 •  | 41866 | 41338 |
| **Bank of Montreal** <br>4.610% (SOFRINDX + 0.880%) due 09/10/2027 ~ | 10600 | 10632 |
| **Bank of Nova Scotia** <br>4.310% (SOFRINDX + 0.545%) due 03/02/2026 ~ | 2375 | 2376 |
| **Banque Federative du Credit Mutuel SA**  |  |  |
| 4.723% (BBSW3M + 1.070%) due 05/24/2027 ~  | 2000 | 1338 |
| 4.877% (SOFRINDX + 1.070%) due 02/16/2028 ~  | $5800 | 5841 |
| 4.936% (SOFRRATE + 0.990%) due 10/16/2028 ~  | 19300 | 19405 |
| 5.038% (SOFRRATE + 1.130%) due 01/23/2027 ~  | 3700 | 3721 |
| 5.370% (SOFRINDX + 1.400%) due 07/13/2026 ~  | 6500 | 6538 |
| 5.896% due 07/13/2026  | 7700 | 7778 |
| **Barclays PLC**  |  |  |
| 2.279% due 11/24/2027 •  | 12856 | 12655 |
| 4.375% due 01/12/2026  | 26055 | 26057 |
| 5.215% (SOFRRATE + 1.490%) due 03/12/2028 ~  | 1000 | 1010 |
| 5.603% (SOFRRATE + 1.880%) due 09/13/2027 ~  | 6000 | 6054 |
| 5.829% due 05/09/2027 •  | 19200 | 19311 |
| **BNP Paribas SA** <br>1.323% due 01/13/2027 •  | 22073 | 22053 |
| **BPCE SA**  |  |  |
| 2.045% due 10/19/2027 •  | 6786 | 6676 |
| 5.975% due 01/18/2027 •  | 13050 | 13058 |
| 6.612% due 10/19/2027 •  | 12402 | 12640 |
| **Brighthouse Financial Global Funding**  |  |  |
| 1.550% due 05/24/2026  | 3000 | 2968 |
| 5.550% due 04/09/2027  | 1657 | 1681 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Canadian Imperial Bank of Commerce**  |  |  |
| 4.294% (BBSW3M + 0.800%) due 04/21/2026 ~  | 24490 | 16365 |
| 4.540% (SOFRRATE + 0.800%) due 09/08/2028 ~  | $21600 | 21645 |
| 4.690% (SOFRRATE + 0.720%) due 01/13/2028 ~  | 1600 | 1603 |
| 4.876% due 01/14/2030  | 20000 | 20709 |
| 4.947% (SOFRRATE + 1.220%) due 10/02/2026 ~  | 1000 | 1007 |
| **Citibank NA** <br>4.457% (SOFRINDX + 0.590%) due 04/30/2026 ~ | 400 | 400 |
| **Citigroup Global Markets Holdings, Inc.** <br>4.190% (SOFRRATE + 0.480%) due 01/20/2026 ~ | 19000 | 19003 |
| **Citigroup, Inc.** <br>1.122% due 01/28/2027 •  | 10900 | 10875 |
| **Cooperatieve Rabobank UA**  |  |  |
| 1.106% due 02/24/2027 •  | 14713 | 14649 |
| 1.980% due 12/15/2027 •  | 4100 | 4020 |
| 4.395% (SOFRINDX + 0.620%) due 08/28/2026 ~  | 4700 | 4712 |
| 4.453% (SOFRINDX + 0.710%) due 03/05/2027 ~  | 2640 | 2654 |
| 4.689% (SOFRINDX + 0.710%) due 01/09/2026 ~  | 41500 | 41504 |
| **Corebridge Global Funding** <br>5.028% due 09/25/2026 •  | 208 | 209 |
| **Credit Agricole SA**  |  |  |
| 1.247% due 01/26/2027 •  | 20102 | 20060 |
| 2.015% due 01/11/2027  | 2350 | 2305 |
| 4.598% (SOFRRATE + 0.870%) due 03/11/2027 ~  | 2220 | 2228 |
| 5.301% (SOFRRATE + 1.290%) due 07/05/2026 ~  | 1000 | 1005 |
| **Crown Castle, Inc.**  |  |  |
| 1.050% due 07/15/2026  | 10596 | 10423 |
| 4.000% due 03/01/2027  | 1400 | 1398 |
| 4.450% due 02/15/2026  | 2678 | 2678 |
| **DBS Group Holdings Ltd.** <br>4.376% (SOFRRATE + 0.600%) due 03/21/2028 ~ | 20400 | 20468 |
| **Deutsche Bank AG**  |  |  |
| 2.311% due 11/16/2027 •  | 22600 | 22239 |
| 2.552% due 01/07/2028 •  | 11901 | 11707 |
| 4.100% due 01/13/2026  | 1924 | 1924 |
| 7.146% due 07/13/2027 •  | 7885 | 8007 |
| **Equitable America Global Funding** <br>4.433% (SOFRRATE + 0.710%) due 09/15/2027 ~ | 14200 | 14196 |
| **Equitable Financial Life Global Funding**  |  |  |
| 4.600% due 04/01/2027  | 9500 | 9569 |
| 4.875% due 11/19/2027  | 6100 | 6202 |
| **F&G Global Funding**  |  |  |
| 1.750% due 06/30/2026  | 1000 | 988 |
| 5.875% due 06/10/2027  | 6300 | 6436 |
| 5.875% due 01/16/2030  | 2600 | 2701 |
| **Federation des Caisses Desjardins du Quebec** <br>4.526% (SOFRRATE + 0.630%) due 01/27/2027 ~ | 25000 | 25089 |
| **Ford Motor Credit Co. LLC**  |  |  |
| 2.700% due 08/10/2026  | 9037 | 8952 |
| 4.271% due 01/09/2027  | 16100 | 16022 |
| 4.389% due 01/08/2026  | 2650 | 2650 |
| 4.542% due 08/01/2026  | 4371 | 4366 |
| 5.125% due 11/05/2026  | 11500 | 11566 |
| 5.284% (SOFRRATE + 1.450%) due 11/05/2026 ~  | 6950 | 6976 |
| 5.800% due 03/05/2027  | 7800 | 7900 |
| 6.950% due 03/06/2026  | 4046 | 4055 |
| **GA Global Funding Trust**  |  |  |
| 1.625% due 01/15/2026  | 7466 | 7459 |
| 4.400% due 09/23/2027  | 17800 | 17878 |
| **General Motors Financial Co., Inc.**  |  |  |
| 5.009% (SOFRINDX + 1.050%) due 07/15/2027 ~  | 8100 | 8111 |
| 5.400% due 04/06/2026  | 10050 | 10086 |
| **Goldman Sachs Bank USA**  |  |  |
| 4.495% (SOFRRATE + 0.770%) due 03/18/2027 ~  | 3200 | 3204 |
| 4.539% (SOFRRATE + 0.750%) due 05/21/2027 ~  | 5400 | 5409 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 1.431% due 03/09/2027 •  | 10092 | 10041 |
| 1.542% due 09/10/2027 •  | 3416 | 3357 |
| 1.948% due 10/21/2027 •  | 2000 | 1967 |
| 4.548% due 03/09/2027 •  | 1457 | 1459 |
| 4.550% (SOFRRATE + 0.820%) due 09/10/2027 ~  | 12040 | 12065 |
| 4.850% (SOFRRATE + 0.920%) due 10/21/2027 ~  | 1000 | 1004 |
| 4.907% (SOFRRATE + 1.120%) due 02/24/2028 ~  | 9000 | 9058 |
| 5.198% (SOFRRATE + 1.290%) due 04/23/2028 ~  | 992 | 1001 |
| 5.573% (SOFRRATE + 1.850%) due 03/15/2028 ~  | 3305 | 3353 |
| 5.871% (US0003M + 1.750%) due 10/28/2027 ~  | 6550 | 6633 |
| **Hanover Insurance Group, Inc.** <br>4.500% due 04/15/2026 | 2756 | 2757 |
| **HAT Holdings I LLC/HAT Holdings II LLC** <br>3.375% due 06/15/2026 | 4840 | 4810 |
| **HSBC Holdings PLC**  |  |  |
| 5.391% (SOFRRATE + 1.570%) due 08/14/2027 ~  | 5700 | 5736 |
| 5.887% due 08/14/2027 •  | 4159 | 4204 |
| **ING Groep NV** <br>4.738% due 04/01/2027 •  | 8000 | 8012 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Jackson National Life Global Funding**  |  |  |
| 4.675% (SOFRRATE + 0.950%) due 09/12/2028 ~  | 9900 | 9934 |
| 4.900% due 01/13/2027  | 7550 | 7614 |
| 5.500% due 01/09/2026  | 8400 | 8402 |
| 5.600% due 04/10/2026  | 7000 | 7029 |
| **JPMorgan Chase & Co.**  |  |  |
| 1.578% due 04/22/2027 •  | 12913 | 12817 |
| 3.960% due 01/29/2027 •  | 12254 | 12252 |
| 4.832% (SOFRRATE + 0.920%) due 04/22/2028 ~  | 36822 | 37003 |
| **Lloyds Banking Group PLC**  |  |  |
| 4.650% due 03/24/2026  | 6210 | 6218 |
| 4.849% (SOFRINDX + 1.060%) due 11/26/2028 ~  | 20900 | 21007 |
| 5.611% (SOFRINDX + 1.580%) due 01/05/2028 ~  | 6600 | 6668 |
| **Mirae Asset Securities Co. Ltd.** <br>6.875% due 07/26/2026 | 3616 | 3668 |
| **Mizuho Bank Ltd.**  |  |  |
| 4.513% (BBSW3M + 0.860%) due 02/23/2026 ~  | 22600 | 15093 |
| 4.562% (BBSW3M + 0.850%) due 09/14/2026 ~  | 2200 | 1473 |
| **Mizuho Financial Group, Inc.** <br>4.930% (SOFRRATE + 1.080%) due 05/13/2031 ~ | $7500 | 7514 |
| **Morgan Stanley** <br>5.050% due 01/28/2027 •  | 11000 | 11008 |
| **Morgan Stanley Bank NA**  |  |  |
| 4.644% (SOFRRATE + 0.685%) due 10/15/2027 ~  | 46850 | 46957 |
| 5.016% due 01/12/2029 •  | 7000 | 7130 |
| **Morgan Stanley Private Bank NA** <br>4.754% (SOFRRATE + 0.770%) due 07/06/2028 ~ | 2700 | 2706 |
| **MUFG Bank Ltd.** <br>4.523% (BBSW3M + 0.870%) due 02/17/2026 ~ | 39200 | 26179 |
| **National Bank of Canada** <br>4.628% due 03/25/2027 •  | $9325 | 9335 |
| **Nationwide Building Society**  |  |  |
| 5.097% (SOFRRATE + 1.290%) due 02/16/2028 ~  | 5150 | 5185 |
| 6.557% due 10/18/2027 •  | 5785 | 5895 |
| **NatWest Markets PLC** <br>4.488% (SOFRRATE + 0.760%) due 09/29/2026 ~ | 6087 | 6104 |
| **Neuberger Berman Group LLC/Neuberger Berman Finance Corp.** <br>4.500% due 03/15/2027 | 2000 | 2004 |
| **New York Life Global Funding** <br>4.244% (SOFRRATE + 0.410%) due 02/05/2027 ~ | 10000 | 10006 |
| **Nissan Motor Acceptance Co. LLC**  |  |  |
| 1.850% due 09/16/2026  | 26510 | 25946 |
| 2.000% due 03/09/2026  | 4000 | 3984 |
| **Nomura Holdings, Inc.**  |  |  |
| 1.653% due 07/14/2026  | 5760 | 5690 |
| 5.035% (SOFRRATE + 1.250%) due 07/02/2027 ~  | 650 | 655 |
| 5.709% due 01/09/2026  | 20523 | 20529 |
| **Nordea Bank Abp**  |  |  |
| 4.425% (SOFRRATE + 0.700%) due 03/17/2028 ~  | 250 | 251 |
| 4.465% (SOFRRATE + 0.740%) due 03/19/2027 ~  | 10600 | 10646 |
| **Oversea-Chinese Banking Corp. Ltd.** <br>4.434% (BBSW3M + 0.780%) due 05/18/2026 ~ | 19000 | 12701 |
| **Pacific Life Global Funding II**  |  |  |
| 4.366% (SOFRRATE + 0.620%) due 06/04/2026 ~  | $1600 | 1603 |
| 4.496% (SOFRRATE + 0.600%) due 01/27/2028 ~  | 29000 | 29028 |
| **PNC Bank NA**  |  |  |
| 4.459% (SOFRRATE + 0.500%) due 01/15/2027 ~  | 9755 | 9767 |
| 4.660% (SOFRRATE + 0.730%) due 07/21/2028 ~  | 10700 | 10719 |
| **RGA Global Funding** <br>2.000% due 11/30/2026 | 4000 | 3930 |
| **Royal Bank of Canada**  |  |  |
| 4.314% (SOFRINDX + 0.460%) due 08/03/2026 ~  | 9500 | 9514 |
| 4.445% (SOFRINDX + 0.590%) due 11/02/2026 ~  | 600 | 602 |
| 4.548% (SOFRINDX + 0.820%) due 03/27/2028 ~  | 18457 | 18527 |
| 4.640% (SOFRINDX + 0.710%) due 01/21/2027 ~  | 7775 | 7810 |
| 4.657% (SOFRINDX + 0.720%) due 10/18/2027 ~  | 16900 | 16947 |
| 4.698% (SOFRINDX + 0.790%) due 07/23/2027 ~  | 8000 | 8019 |
| 4.732% (SOFRINDX + 0.830%) due 01/24/2029 ~  | 8700 | 8725 |
| 4.797% (SOFRINDX + 0.860%) due 10/18/2028 ~  | 2292 | 2303 |
| **Sammons Financial Group Global Funding** <br>4.615% due 09/02/2027 •  | 10200 | 10244 |
| **Santander U.K. Group Holdings PLC**  |  |  |
| 1.673% due 06/14/2027 •  | 11721 | 11592 |
| 4.858% due 09/11/2030 •  | 5000 | 5064 |
| **SBA Tower Trust** <br>1.840% due 04/15/2027 | 4500 | 4361 |
| **Skandinaviska Enskilda Banken AB**  |  |  |
| 4.633% (SOFRRATE + 0.890%) due 03/05/2027 ~  | 18866 | 18976 |
| 4.811% (SOFRRATE + 1.060%) due 09/03/2030 ~  | 11800 | 11824 |
| **Societe Generale SA** <br>1.792% due 06/09/2027 •  | 17026 | 16847 |
| **Standard Chartered PLC**  |  |  |
| 1.456% due 01/14/2027 •  | 16736 | 16723 |
| 5.935% (SOFRRATE + 1.930%) due 07/06/2027 ~  | 1100 | 1108 |
| 6.170% due 01/09/2027 •  | 6302 | 6304 |
| 6.187% due 07/06/2027 •  | 2000 | 2021 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sumitomo Mitsui Banking Corp.**  |  |  |
| 4.491% (BBSW3M + 0.850%) due 02/20/2026 ~  | 33500 | 22372 |
| 4.609% (BBSW3M + 1.050%) due 07/28/2026 ~  | 5000 | 3350 |
| **Sumitomo Mitsui Financial Group, Inc.**  |  |  |
| 4.867% (SOFRRATE + 0.880%) due 01/14/2027 ~  | $20400 | 20513 |
| 5.289% (SOFRRATE + 1.300%) due 07/13/2026 ~  | 5160 | 5191 |
| 5.419% (SOFRRATE + 1.430%) due 01/13/2026 ~  | 15113 | 15119 |
| **Sumitomo Mitsui Trust Bank Ltd.**  |  |  |
| 4.880% (SOFRRATE + 1.150%) due 09/14/2026 ~  | 9350 | 9414 |
| 4.908% (SOFRRATE + 1.120%) due 03/09/2026 ~  | 2655 | 2660 |
| 4.926% (SOFRRATE + 1.150%) due 09/14/2026 ~  | 6300 | 6343 |
| 5.650% due 09/14/2026  | 4892 | 4950 |
| **Svenska Handelsbanken AB** <br>4.126% (BBSW3M + 0.450%) due 03/04/2026 ~ | 5200 | 3471 |
| **Swedbank AB** <br>5.337% due 09/20/2027 | $34955 | 35767 |
| **Toronto-Dominion Bank**  |  |  |
| 4.378% (BBSW3M + 0.650%) due 03/17/2026 ~  | 2500 | 1669 |
| 4.413% (BBSW3M + 0.700%) due 03/16/2026 ~  | 7500 | 5009 |
| **Toyota Motor Credit Corp.**  |  |  |
| 4.140% due 06/09/2027 •  | $25000 | 25005 |
| 4.693% (SOFRINDX + 0.890%) due 05/18/2026 ~  | 3500 | 3509 |
| **UBS AG**  |  |  |
| 4.156% (BBSW3M + 0.500%) due 02/26/2026 ~  | 7000 | 4672 |
| 4.934% (BBSW3M + 1.300%) due 05/12/2026 ~  | 23800 | 15938 |
| **UBS Group AG**  |  |  |
| 1.305% due 02/02/2027 •  | $33200 | 33108 |
| 1.364% due 01/30/2027 •  | 4200 | 4191 |
| 5.711% due 01/12/2027 •  | 1500 | 1501 |
| 6.327% due 12/22/2027 •  | 12450 | 12712 |
| **United Overseas Bank Ltd.**  |  |  |
| 4.365% (SOFRINDX + 0.580%) due 04/02/2028 ~  | 21200 | 21246 |
| 4.443% (BBSW3M + 0.730%) due 03/16/2026 ~  | 10500 | 7013 |
| **Ventas Realty LP** <br>4.125% due 01/15/2026 | $1600 | 1600 |
| **VICI Properties LP/VICI Note Co., Inc.**  |  |  |
| 3.750% due 02/15/2027  | 2815 | 2798 |
| 4.250% due 12/01/2026  | 6323 | 6324 |
| 4.500% due 09/01/2026  | 1700 | 1702 |
| 5.750% due 02/01/2027  | 140 | 142 |
| **Wells Fargo & Co.**  |  |  |
| 3.196% due 06/17/2027 •  | 23600 | 23508 |
| 4.682% (SOFRRATE + 0.780%) due 01/24/2028 ~  | 8000 | 8020 |
| 4.982% (SOFRRATE + 1.070%) due 04/22/2028 ~  | 5911 | 5945 |
| **Weyerhaeuser Co.** <br>4.750% due 05/15/2026 | 8067 | 8085 |
|  |  | 2003228 |
| **INDUSTRIALS 14.8%**  |  |  |
| **7-Eleven, Inc.** <br>0.950% due 02/10/2026 | 17945 | 17882 |
| **Algonquin Power & Utilities Corp.** <br>5.365% due 06/15/2026 þ | 15125 | 15200 |
| **Amphenol Corp.** <br>4.349% (SOFRRATE + 0.530%) due 11/15/2027 ~ | 9900 | 9921 |
| **AutoZone, Inc.** <br>3.125% due 04/21/2026 | 581 | 579 |
| **BAT International Finance PLC** <br>1.668% due 03/25/2026 | 23474 | 23346 |
| **Bayer U.S. Finance II LLC** <br>4.375% due 12/15/2028 | 1500 | 1502 |
| **Berry Global, Inc.**  |  |  |
| 1.570% due 01/15/2026  | 32324 | 32292 |
| 4.875% due 07/15/2026  | 28670 | 28676 |
| **BHP Billiton Finance USA Ltd.** <br>4.875% due 02/27/2026 | 639 | 640 |
| **BMW U.S. Capital LLC**  |  |  |
| 4.505% (SOFRINDX + 0.780%) due 03/19/2027 ~  | 3200 | 3213 |
| 4.530% (SOFRRATE + 0.710%) due 08/11/2027 ~  | 49600 | 49742 |
| 4.645% (SOFRINDX + 0.920%) due 03/21/2028 ~  | 11900 | 11960 |
| **Boeing Co.**  |  |  |
| 2.196% due 02/04/2026  | 48103 | 48013 |
| 2.250% due 06/15/2026  | 983 | 975 |
| 2.750% due 02/01/2026  | 20000 | 19977 |
| **Canadian Natural Resources Ltd.** <br>5.000% due 12/15/2029 | 3900 | 4001 |
| **Conagra Brands, Inc.** <br>4.850% due 11/01/2028 | 1000 | 1012 |
| **Cox Communications, Inc.** <br>3.350% due 09/15/2026 | 10114 | 10063 |
| **Cox Enterprises, Inc.** <br>7.375% due 07/15/2027 | 2000 | 2079 |
| **Dell International LLC/EMC Corp.** <br>4.900% due 10/01/2026 | 9582 | 9628 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **DR Horton, Inc.** <br>1.300% due 10/15/2026 | 6000 | 5880 |
| **Electronic Arts, Inc.** <br>4.800% due 03/01/2026 | 355 | 355 |
| **Elevance Health, Inc.** <br>4.750% due 02/15/2030 | 5200 | 5306 |
| **Energy Transfer LP**  |  |  |
| 4.400% due 03/15/2027  | 1696 | 1702 |
| 4.750% due 01/15/2026  | 1100 | 1100 |
| 6.050% due 12/01/2026  | 5105 | 5189 |
| **Fiserv, Inc.** <br>4.550% due 02/15/2031 | 11700 | 11587 |
| **Flex Ltd.** <br>3.750% due 02/01/2026 | 32673 | 32646 |
| **Fox Corp.** <br>4.709% due 01/25/2029 | 10000 | 10130 |
| **Gilead Sciences, Inc.** <br>1.200% due 10/01/2027 | 2000 | 1917 |
| **Glencore Funding LLC** <br>5.071% (SOFRINDX + 1.060%) due 04/04/2027 ~ | 1700 | 1708 |
| **Global Payments, Inc.** <br>2.150% due 01/15/2027 | 7618 | 7461 |
| **Harley-Davidson Financial Services, Inc.** <br>3.050% due 02/14/2027 | 1110 | 1097 |
| **HCA, Inc.**  |  |  |
| 4.642% (SOFRRATE + 0.870%) due 03/01/2028 ~  | 3000 | 3020 |
| 5.250% due 06/15/2026  | 5237 | 5241 |
| 5.375% due 09/01/2026  | 7330 | 7346 |
| **Hyundai Capital America**  |  |  |
| 3.500% due 11/02/2026  | 2471 | 2459 |
| 4.718% (SOFRRATE + 0.990%) due 03/25/2027 ~  | 9500 | 9541 |
| 4.765% (SOFRRATE + 1.040%) due 03/19/2027 ~  | 320 | 321 |
| 4.767% (SOFRRATE + 1.040%) due 06/24/2027 ~  | 300 | 301 |
| 4.914% (SOFRRATE + 0.920%) due 01/07/2028 ~  | 5490 | 5500 |
| 5.250% due 01/08/2027  | 4821 | 4878 |
| 5.487% (SOFRRATE + 1.500%) due 01/08/2027 ~  | 10400 | 10483 |
| **Imperial Brands Finance PLC**  |  |  |
| 3.500% due 07/26/2026  | 1300 | 1295 |
| 4.500% due 06/30/2028  | 6000 | 6050 |
| **Keurig Dr. Pepper, Inc.**  |  |  |
| 2.550% due 09/15/2026  | 8074 | 7991 |
| 4.387% (SOFRRATE + 0.580%) due 11/15/2026 ~  | 13820 | 13826 |
| 5.100% due 03/15/2027  | 4000 | 4046 |
| **Kraft Heinz Foods Co.** <br>3.000% due 06/01/2026 | 4339 | 4321 |
| **Las Vegas Sands Corp.** <br>3.500% due 08/18/2026 | 10617 | 10574 |
| **Mercedes-Benz Finance North America LLC**  |  |  |
| 1.450% due 03/02/2026  | 1000 | 996 |
| 4.507% (SOFRRATE + 0.780%) due 04/01/2027 ~  | 3500 | 3513 |
| 4.522% (SOFRRATE + 0.630%) due 07/31/2026 ~  | 17575 | 17610 |
| 4.675% (SOFRRATE + 0.670%) due 01/09/2026 ~  | 34710 | 34713 |
| **Mitsubishi Corp.** <br>4.515% (SOFRRATE + 0.700%) due 09/09/2028 ~ | 6700 | 6709 |
| **Molson Coors Beverage Co.** <br>3.000% due 07/15/2026 | 14658 | 14580 |
| **MPLX LP** <br>1.750% due 03/01/2026 | 13071 | 13020 |
| **National Fuel Gas Co.** <br>5.500% due 10/01/2026 | 12950 | 13083 |
| **NTT Finance Corp.**  |  |  |
| 1.162% due 04/03/2026  | 16000 | 15883 |
| 4.567% due 07/16/2027  | 4700 | 4743 |
| 5.059% (SOFRRATE + 1.080%) due 07/16/2028 ~  | 8365 | 8454 |
| **NXP BV/NXP Funding LLC** <br>5.350% due 03/01/2026 | 11295 | 11296 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.** <br>3.875% due 06/18/2026 | 12800 | 12789 |
| **Oracle Corp.** <br>1.650% due 03/25/2026 | 12423 | 12346 |
| **Penske Truck Leasing Co. LP/PTL Finance Corp.** <br>1.700% due 06/15/2026 | 2229 | 2204 |
| **Pernod Ricard SA** <br>3.250% due 06/08/2026 | 4410 | 4408 |
| **Philip Morris International, Inc.** <br>2.750% due 02/25/2026 | 541 | 540 |
| **QatarEnergy** <br>1.375% due 09/12/2026 | 3900 | 3827 |
| **Renesas Electronics Corp.** <br>2.170% due 11/25/2026 | 500 | 491 |
| **Rogers Communications, Inc.** <br>3.200% due 03/15/2027 | 13041 | 12915 |
| **Royal Caribbean Cruises Ltd.**  |  |  |
| 5.375% due 07/15/2027  | 13800 | 13909 |
| 5.500% due 08/31/2026  | 23577 | 23615 |
| 5.500% due 04/01/2028  | 27260 | 27763 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 7.500% due 10/15/2027  | 2000 | 2114 |
| **Sabine Pass Liquefaction LLC** <br>5.000% due 03/15/2027 | 2705 | 2724 |
| **Southwest Airlines Co.** <br>3.000% due 11/15/2026 | 7600 | 7533 |
| **Spectra Energy Partners LP** <br>3.375% due 10/15/2026 | 11470 | 11422 |
| **Sydney Airport Finance Co. Pty. Ltd.** <br>3.625% due 04/28/2026 | 31100 | 31041 |
| **Synopsys, Inc.** <br>4.650% due 04/01/2028 | 13000 | 13183 |
| **T-Mobile USA, Inc.** <br>2.250% due 02/15/2026 | 2384 | 2379 |
| **Take-Two Interactive Software, Inc.** <br>5.000% due 03/28/2026 | 3065 | 3072 |
| **Toyota Finance Australia Ltd.** <br>4.589% (BBSW3M + 1.000%) due 04/06/2026 ~ | 2050 | 1370 |
| **TR Finance LLC** <br>3.350% due 05/15/2026 | $5795 | 5772 |
| **UnitedHealth Group, Inc.** <br>4.459% (SOFRRATE + 0.500%) due 07/15/2026 ~ | 1566 | 1569 |
| **Volkswagen Group of America Finance LLC**  |  |  |
| 3.200% due 09/26/2026  | 1660 | 1649 |
| 4.555% (SOFRRATE + 0.830%) due 03/20/2026 ~  | 24700 | 24724 |
| 4.788% (SOFRRATE + 1.060%) due 03/25/2027 ~  | 5150 | 5169 |
| 4.869% (SOFRRATE + 1.060%) due 08/14/2026 ~  | 3215 | 3225 |
| 4.900% due 08/14/2026  | 5583 | 5607 |
| 5.400% due 03/20/2026  | 6234 | 6251 |
| 5.700% due 09/12/2026  | 24991 | 25259 |
| **Woodside Finance Ltd.** <br>3.700% due 09/15/2026 | 6742 | 6718 |
|  |  | 894160 |
| **UTILITIES 3.7%**  |  |  |
| **Black Hills Corp.** <br>3.950% due 01/15/2026 | 11741 | 11739 |
| **Brooklyn Union Gas Co.** <br>3.407% due 03/10/2026 | 6500 | 6492 |
| **Colorado Interstate Gas Co. LLC/Colorado Interstate Issuing Corp.** <br>4.150% due 08/15/2026 | 3395 | 3391 |
| **Columbia Pipelines Holding Co. LLC** <br>6.055% due 08/15/2026 | 834 | 842 |
| **Dominion Energy, Inc.** <br>2.850% due 08/15/2026 | 6800 | 6751 |
| **Emera U.S. Finance LP** <br>3.550% due 06/15/2026 | 2200 | 2193 |
| **Enel Finance International NV**  |  |  |
| 1.625% due 07/12/2026  | 18150 | 17924 |
| 3.625% due 05/25/2027  | 5400 | 5369 |
| **Eversource Energy**  |  |  |
| 1.400% due 08/15/2026  | 2000 | 1966 |
| 2.900% due 03/01/2027  | 15690 | 15480 |
| 4.750% due 05/15/2026  | 5200 | 5214 |
| **Fortis, Inc.** <br>3.055% due 10/04/2026 | 10400 | 10317 |
| **Israel Electric Corp. Ltd.** <br>7.750% due 12/15/2027 | 600 | 636 |
| **NextEra Energy Capital Holdings, Inc.** <br>4.633% (SOFRINDX + 0.760%) due 01/29/2026 ~ | 14750 | 14756 |
| **ONEOK, Inc.**  |  |  |
| 4.250% due 09/24/2027  | 8300 | 8332 |
| 5.550% due 11/01/2026  | 300 | 303 |
| **Pacific Gas & Electric Co.**  |  |  |
| 2.950% due 03/01/2026  | 1646 | 1642 |
| 3.150% due 01/01/2026  | 30102 | 30102 |
| **Pinnacle West Capital Corp.** <br>4.550% (SOFRRATE + 0.820%) due 06/10/2026 ~ | 4388 | 4396 |
| **Plains All American Pipeline LP/PAA Finance Corp.** <br>4.500% due 12/15/2026 | 3005 | 3015 |
| **SA Global Sukuk Ltd.** <br>1.602% due 06/17/2026 | 3500 | 3459 |
| **Southern California Edison Co.**  |  |  |
| 1.200% due 02/01/2026  | 14292 | 14241 |
| 4.400% due 09/06/2026  | 19191 | 19228 |
| 4.700% due 06/01/2027  | 900 | 908 |
| 4.900% due 06/01/2026  | 13757 | 13777 |
| 5.350% due 03/01/2026  | 12600 | 12623 |
| **Southern California Gas Co.** <br>2.600% due 06/15/2026 | 1195 | 1188 |
| **Vistra Operations Co. LLC** <br>5.050% due 12/30/2026 | 2000 | 2015 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **WEC Energy Group, Inc.** <br>5.600% due 09/12/2026 | 1954 | 1974 |
|  |  | 220273 |
| Total Corporate Bonds & Notes (Cost $3,103,973) |  | 3117661 |
| **U.S. GOVERNMENT AGENCIES 16.8%**  |  |  |
| **Federal Home Loan Mortgage Corp.**<br>2.500% due 12/01/2032 | 11215 | 10899 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates**  |  |  |
| 2.745% due 01/25/2026 | 1610 | 1606 |
| 3.208% due 02/25/2026 | 819 | 816 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 1.000% due 02/25/2042 - 09/15/2044 | 35190 | 31252 |
| 1.500% due 03/15/2041 - 12/15/2042 | 3468 | 3129 |
| 2.500% due 10/25/2048 | 1655 | 1529 |
| 2.750% due 12/15/2041 - 03/15/2045 | 1613 | 1604 |
| 3.000% due 09/15/2032 - 10/15/2040 | 948 | 943 |
| 4.498% due 06/15/2035 - 12/15/2046 •  | 7797 | 7705 |
| 4.528% due 06/15/2036 •  | 545 | 542 |
| 4.548% due 09/15/2048 - 08/15/2049 •  | 3263 | 3201 |
| 4.643% due 05/15/2038 •  | 1554 | 1507 |
| 4.653% due 05/15/2041 •  | 1374 | 1357 |
| 4.663% due 06/15/2040 •  | 1420 | 1386 |
| 4.673% due 12/15/2036 - 09/15/2044 •  | 53068 | 52260 |
| 4.723% due 01/15/2037 - 01/15/2040 •  | 3075 | 3038 |
| 4.763% due 11/15/2042 •  | 762 | 756 |
| 4.773% due 12/15/2037 - 05/15/2038 •  | 1667 | 1634 |
| 4.774% due 09/25/2055 - 11/25/2055 •  | 8264 | 8299 |
| 4.814% due 11/25/2054 •  | 69022 | 69317 |
| 4.824% due 10/25/2054 - 09/25/2055 •  | 70572 | 71044 |
| 4.874% due 10/25/2052 - 08/25/2055 •  | 76505 | 77088 |
| 4.974% due 08/25/2054 - 07/25/2055 •  | 29354 | 29456 |
| 5.024% due 01/25/2055 - 08/25/2055 •  | 38775 | 38921 |
| 5.074% due 12/25/2054 - 08/25/2055 •  | 25397 | 25508 |
| 5.109% due 12/15/2050 •  | 8689 | 8673 |
| **Federal Home Loan Mortgage Corp. STRIPS**  |  |  |
| 4.673% due 02/15/2038 •  | 21191 | 20946 |
| 5.024% due 05/25/2054 •  | 18448 | 18514 |
| **Federal National Mortgage Association**  |  |  |
| 2.500% due 02/01/2035 | 8504 | 8263 |
| 5.810% due 06/01/2031 | 5600 | 5823 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 1.250% due 05/25/2043 | 3798 | 3518 |
| 1.375% due 12/25/2027 | 2070 | 2037 |
| 1.500% due 07/25/2032 | 1214 | 1198 |
| 1.750% due 06/25/2027 | 1346 | 1328 |
| 2.500% due 03/25/2044 | 3 | 3 |
| 2.750% due 02/25/2044 | 36 | 36 |
| 3.000% due 06/25/2033 - 02/25/2044 | 305 | 303 |
| 3.500% due 06/25/2048 | 3543 | 3441 |
| 4.289% due 01/25/2048 •  | 1174 | 1158 |
| 4.389% due 09/25/2043 - 07/25/2050 •  | 11489 | 11238 |
| 4.439% due 07/25/2049 - 08/25/2049 •  | 17150 | 16840 |
| 4.489% due 12/25/2049 - 01/25/2050 •  | 6502 | 6392 |
| 4.536% due 12/25/2048 •  | 7046 | 6965 |
| 4.623% due 03/25/2048 - 06/25/2048 •  | 5501 | 5441 |
| 4.643% due 01/25/2045 •  | 1663 | 1625 |
| 4.673% due 10/25/2044 - 05/25/2058 •  | 26855 | 26582 |
| 4.723% due 07/25/2044 - 09/25/2049 •  | 9214 | 9125 |
| 4.743% due 11/25/2046 •  | 1091 | 1071 |
| 4.763% due 12/25/2046 •  | 839 | 832 |
| 4.773% due 07/25/2046 •  | 9613 | 9559 |
| 4.774% due 09/25/2054 - 08/25/2055 •  | 78982 | 79267 |
| 4.784% due 03/25/2055 •  | 9467 | 9502 |
| 4.824% due 01/25/2055 - 03/25/2055 •  | 10006 | 10053 |
| 4.874% due 05/25/2055 •  | 7873 | 7916 |
| 4.924% due 05/25/2055 - 09/25/2055 •  | 6795 | 6843 |
| 4.974% due 12/25/2054 - 11/25/2055 •  | 25501 | 25587 |
| 5.009% due 01/25/2051 •  | 4740 | 4748 |
| 5.024% due 01/25/2055 - 03/25/2055 •  | 38572 | 38707 |
| 5.034% due 03/25/2055 •  | 15706 | 15771 |
| 5.054% due 08/25/2055 •  | 18728 | 18802 |
| 5.074% due 12/25/2053 •  | 5714 | 5736 |
| 5.124% due 11/25/2053 - 02/25/2055 •  | 20985 | 21087 |
| **Government National Mortgage Association REMICS**  |  |  |
| 2.500% due 01/20/2049 - 10/20/2049 | 2840 | 2557 |
| 4.000% due 07/20/2049 •  | 978 | 916 |
| 4.148% due 03/20/2037 •  | 726 | 717 |
| 4.158% due 04/20/2037 •  | 472 | 468 |
| 4.298% due 04/20/2049 •  | 4214 | 4145 |
| 4.387% due 02/20/2043 •  | 12576 | 12482 |
| 4.584% due 06/20/2067 •  | 98 | 98 |
| 4.614% due 04/20/2061 •  | 99 | 99 |
| 4.618% due 08/20/2075 •  | 17898 | 18078 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.814% due 04/20/2070 •  | 10776 | 10788 |
| 4.818% due 06/20/2055 - 07/20/2074 •  | 56000 | 56379 |
| 4.836% due 04/20/2054 •  | 1000 | 1000 |
| 4.864% due 08/20/2067 •  | 572 | 575 |
| 4.868% due 01/20/2054 - 05/20/2055 •  | 8205 | 8253 |
| 4.918% due 06/20/2055 •  | 10783 | 10824 |
| 5.018% due 05/20/2073 •  | 3148 | 3209 |
| 5.051% due 08/20/2062 ~ | 207 | 207 |
| 5.068% due 06/20/2055 - 07/20/2055 •  | 12106 | 12164 |
| 5.077% due 11/20/2067 •  | 502 | 508 |
| 5.227% due 06/20/2067 •  | 1153 | 1167 |
| 5.577% due 09/20/2067 •  | 2834 | 2873 |
| 5.581% due 07/20/2067 •  | 2307 | 2338 |
| 5.592% due 04/20/2067 •  | 1034 | 1046 |
| Total U.S. Government Agencies (Cost $1,015,061) |  | 1010618 |
| **U.S. TREASURY OBLIGATIONS 3.6%**  |  |  |
| **U.S. Treasury Inflation Protected Securities (d)** |  |  |
| 0.125% due 07/15/2026 (g) | 103236 | 102637 |
| 0.125% due 10/15/2026  | 96397 | 95508 |
| 2.125% due 04/15/2029 (g)(i) | 19264 | 19675 |
| Total U.S. Treasury Obligations (Cost $218,303) |  | 217820 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 3.9%**  |  |  |
| **Ashford Hospitality Trust** <br>4.823% due 04/15/2035 •  | 1673 | 1671 |
| **Avon Finance** <br>4.642% due 12/28/2049 •  | 15682 | 21167 |
| **BBCCRE Trust** <br>3.966% due 08/10/2033 | $2000 | 1866 |
| **Benchmark Mortgage Trust** <br>4.203% due 10/10/2051 | 2995 | 2990 |
| **BSREP Commercial Mortgage Trust** <br>4.815% due 08/15/2038 •  | 3749 | 3559 |
| **BX Commercial Mortgage Trust** <br>4.594% due 10/15/2036 •  | 5385 | 5383 |
| **Citigroup Mortgage Loan Trust** <br>3.375% due 10/25/2062 þ | 20694 | 19556 |
| **Citigroup Mortgage Loan Trust, Inc.** <br>5.374% due 06/25/2055 •  | 4210 | 4237 |
| **CSWF Corp.** <br>4.931% due 06/15/2034 •  | 1231 | 1210 |
| **Finsbury Square Green PLC** <br>4.428% due 12/16/2067 •  | 693 | 934 |
| **Government National Mortgage Association REMICS**  |  |  |
| 4.688% due 09/20/2075 •  | $9679 | 9712 |
| 4.698% due 10/20/2075 •  | 10117 | 10162 |
| **GS Mortgage-Backed Securities Trust** <br>5.013% due 07/25/2065 þ | 9033 | 9048 |
| **JP Morgan Chase Commercial Mortgage Securities Trust**  |  |  |
| 4.875% due 06/15/2038 •  | 9000 | 8764 |
| 4.915% due 04/15/2038 •  | 7447 | 7448 |
| **JP Morgan Mortgage Trust**  |  |  |
| 4.954% due 03/25/2066 ~  | 5861 | 5869 |
| 5.567% due 09/25/2065 ~  | 2012 | 2031 |
| 5.591% due 06/25/2065 þ  | 3819 | 3856 |
| **Lehman XS Trust** <br>4.386% due 12/25/2035 •  | 272 | 259 |
| **MFA Trust**  |  |  |
| 1.131% due 07/25/2060 ~  | 13432 | 12400 |
| 1.381% due 04/25/2065 ~  | 1792 | 1760 |
| **New Residential Mortgage Loan Trust** <br>3.500% due 12/25/2057 ~ | 1900 | 1858 |
| **OBX Trust** <br>5.988% due 01/25/2064 þ | 3759 | 3794 |
| **Polaris PLC** <br>4.579% due 10/23/2059 •  | 2388 | 3219 |
| **PRET Trust** <br>4.000% due 03/25/2065 þ | $19574 | 19231 |
| **PRKCM Trust** <br>5.101% due 10/25/2060 þ | 6597 | 6614 |
| **Project Cashmere** <br>4.543% due 12/30/2057 «(a) | 46200 | 30832 |
| **PRPM LLC** <br>4.990% due 12/25/2055 þ | $2200 | 2200 |
| **RCKT Mortgage Trust** <br>5.582% due 12/25/2044 þ | 8036 | 8124 |
| **Starwood Mortgage Residential Trust** <br>1.486% due 04/25/2065 ~ | 394 | 386 |
| **Towd Point Mortgage Trust**  |  |  |
| 2.710% due 01/25/2060 ~  | 7596 | 7353 |
| 2.900% due 10/25/2059 ~  | 3356 | 3241 |
| **Tower Bridge Funding PLC** <br>4.552% due 12/20/2066 •  | 578 | 779 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **UWM Mortgage Trust** <br>4.824% due 12/25/2051 •  | $9891 | 9244 |
| **Verus Securitization Trust**  |  |  |
| 1.262% due 10/25/2063 ~  | 85 | 83 |
| 5.712% due 01/25/2069 þ  | 5359 | 5389 |
| Total Non-Agency Mortgage-Backed Securities (Cost $236,776) |  | 236229 |
| **ASSET-BACKED SECURITIES 19.6%**  |  |  |
| **AUTOMOBILE ABS OTHER 2.0%**  |  |  |
| **Cars Alliance Auto Loans Germany V** <br>2.463% due 01/18/2036 •  | 26147 | 30756 |
| **GM Financial Automobile Leasing Trust** <br>4.268% due 10/20/2027 •  | $9000 | 9003 |
| **Hyundai Auto Receivables Trust** <br>4.334% (SOFR30A + 0.350%) due 07/17/2028 ~ | 25000 | 25015 |
| **M&T Bank Auto Receivables Trust** <br>4.484% due 05/15/2028 •  | 6094 | 6098 |
| **Metro Finance Trust** <br>5.298% due 09/19/2028 •  | 14696 | 9811 |
| **Toyota Lease Owner Trust**  |  |  |
| 4.258% due 05/22/2028 •  | $15000 | 15011 |
| 4.358% due 02/22/2027 •  | 1329 | 1330 |
| **Volkswagen Auto Lease Trust**  |  |  |
| 4.288% due 04/20/2028 •  | 20000 | 20009 |
| 4.388% due 12/21/2026 •  | 1363 | 1363 |
|  |  | 118396 |
| **AUTOMOBILE SEQUENTIAL 3.7%**  |  |  |
| **CarMax Auto Owner Trust** <br>4.590% due 07/17/2028 | 3529 | 3540 |
| **Carvana Auto Receivables Trust**  |  |  |
| 4.550% due 05/10/2030  | 3000 | 3019 |
| 4.640% due 01/10/2030  | 2000 | 2013 |
| **Chase Auto Owner Trust**  |  |  |
| 4.400% due 11/26/2027  | 40 | 40 |
| 4.940% due 07/25/2029  | 5300 | 5353 |
| 5.250% due 09/27/2027  | 326 | 326 |
| 5.680% due 01/25/2029  | 1372 | 1387 |
| **Enterprise Fleet Financing LLC**  |  |  |
| 4.050% due 08/20/2028  | 16400 | 16433 |
| 4.690% due 07/20/2027  | 7310 | 7337 |
| 5.760% due 10/22/2029  | 540 | 542 |
| **Ford Credit Auto Owner Trust**  |  |  |
| 3.880% due 06/15/2028  | 8700 | 8705 |
| 5.400% due 04/15/2027  | 2969 | 2973 |
| **GM Financial Automobile Leasing Trust**  |  |  |
| 4.540% due 05/20/2027  | 18091 | 18137 |
| 4.550% due 07/20/2027  | 19266 | 19325 |
| **GM Financial Consumer Automobile Receivables Trust**  |  |  |
| 4.880% due 08/16/2028  | 3000 | 3016 |
| 5.100% due 03/16/2029  | 6411 | 6465 |
| 5.450% due 06/16/2028  | 2024 | 2039 |
| **GM Financial Revolving Receivables Trust** <br>4.980% due 12/11/2036 | 5000 | 5147 |
| **Harley-Davidson Motorcycle Trust** <br>4.710% due 07/17/2028 | 10963 | 10994 |
| **Hertz Vehicle Financing III LLC** <br>6.150% due 03/25/2030 | 5000 | 5242 |
| **Huntington Auto Trust** <br>5.230% due 01/16/2029 | 4540 | 4586 |
| **Hyundai Auto Lease Securitization Trust**  |  |  |
| 4.370% due 01/18/2028  | 14500 | 14558 |
| 4.770% due 03/15/2027  | 6651 | 6668 |
| **Hyundai Auto Receivables Trust** <br>4.990% due 02/15/2029 | 5087 | 5131 |
| **M&T Bank Auto Receivables Trust** <br>5.220% due 02/17/2032 | 4900 | 4955 |
| **Mercedes-Benz Auto Lease Trust** <br>4.570% due 12/15/2026 | 306 | 306 |
| **Nissan Auto Lease Trust** <br>4.920% due 11/15/2027 | 5000 | 5051 |
| **PenFed Auto Receivables Owner Trust** <br>4.030% due 07/15/2030 | 3500 | 3511 |
| **SBNA Auto Lease Trust** <br>5.560% due 11/22/2027 | 9262 | 9311 |
| **SFS Auto Receivables Securitization Trust**  |  |  |
| 4.650% due 05/22/2028  | 1965 | 1968 |
| 5.470% due 10/20/2028  | 2140 | 2154 |
| **Toyota Auto Receivables Owner Trust** <br>4.460% due 03/15/2028 | 5948 | 5963 |
| **Toyota Lease Owner Trust**  |  |  |
| 4.210% due 09/20/2027  | 5000 | 5010 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.580% due 07/20/2027  | 23877 | 23954 |
| **World Omni Auto Receivables Trust**  |  |  |
| 4.430% due 12/17/2029  | 5000 | 5032 |
| 4.780% due 01/18/2028  | 549 | 550 |
| 5.150% due 11/15/2028  | 2371 | 2385 |
|  |  | 223126 |
| **CMBS OTHER 0.0%**  |  |  |
| **GPMT Ltd.** <br>5.198% due 12/15/2036 •  | 1860 | 1863 |
| **CREDIT CARD BULLET 1.2%**  |  |  |
| **American Express Credit Account Master Trust** <br>5.230% due 09/15/2028 | 3100 | 3131 |
| **BA Credit Card Trust** <br>4.930% due 05/15/2029 | 11000 | 11177 |
| **CARDS II Trust** <br>4.630% due 03/15/2031 | 10700 | 10825 |
| **Evergreen Credit Card Trust** <br>4.540% due 10/15/2029 •  | 36600 | 36738 |
| **Synchrony Card Funding LLC** <br>5.040% due 03/15/2030 | 10600 | 10752 |
|  |  | 72623 |
| **CREDIT CARD OTHER 0.5%**  |  |  |
| **Trillium Credit Card Trust II** <br>4.297% due 09/26/2030 •  | 27700 | 27806 |
| **OTHER ABS 12.2%**  |  |  |
| **37 Capital CLO 1 Ltd.** <br>5.185% due 10/15/2034 •  | 6200 | 6211 |
| **522 Funding CLO Ltd.**  |  |  |
| 5.060% due 10/23/2034 •  | 1600 | 1601 |
| 5.186% due 10/20/2031 •  | 3976 | 3978 |
| **AlbaCore Euro CLO IV DAC** <br>2.999% due 07/15/2035 •  | 1500 | 1764 |
| **AMMC CLO 24 Ltd.** <br>5.084% due 01/20/2035 •  | $6400 | 6402 |
| **Anchorage Capital CLO 20 Ltd.** <br>4.984% due 01/20/2035 •  | 2100 | 2100 |
| **Anchorage Credit Funding 19 Ltd.** <br>5.036% due 10/25/2040 | 1700 | 1700 |
| **ARES European CLO X DAC** <br>2.789% due 10/15/2031 •  | 5689 | 6690 |
| **ARES XLIV CLO Ltd.** <br>5.035% due 04/15/2034 •  | $20600 | 20607 |
| **ARES XXVII CLO Ltd.** <br>5.009% due 10/28/2034 •  | 19500 | 19506 |
| **Atlantic Avenue Ltd.** <br>5.144% due 01/20/2035 •  | 22000 | 22021 |
| **Bain Capital Credit CLO Ltd.**  |  |  |
| 4.900% due 10/21/2034 •  | 1000 | 999 |
| 5.124% due 07/19/2034 •  | 700 | 700 |
| **Barings Euro CLO DAC**  |  |  |
| 0.000% due 08/15/2039 •(a)  | 13000 | 15278 |
| 3.250% due 10/21/2038 •  | 10900 | 12797 |
| **BlackRock European CLO VII DAC** <br>2.629% due 10/15/2031 •  | 11111 | 13074 |
| **BlueMountain CLO XXXII Ltd.** <br>5.005% due 10/15/2034 •  | $11000 | 11004 |
| **BlueMountain CLO XXXIV Ltd.** <br>5.034% due 04/20/2035 •  | 23200 | 23212 |
| **Cairn CLO X DAC** <br>2.789% due 10/15/2031 •  | 12761 | 15008 |
| **Canyon CLO Ltd.** <br>5.005% due 10/15/2034 •  | $3100 | 3101 |
| **Carlyle Euro CLO DAC** <br>2.954% due 08/15/2032 •  | 3282 | 3861 |
| **Carlyle Global Market Strategies CLO Ltd.** <br>4.974% due 07/20/2034 •  | $19100 | 19111 |
| **Carlyle Global Market Strategies Euro CLO Ltd.** <br>2.814% due 11/15/2031 •  | 2863 | 3366 |
| **CarVal CLO I Ltd.** <br>5.124% due 07/16/2031 •  | $2283 | 2284 |
| **CCG Receivables Trust** <br>4.480% due 10/14/2032 | 8528 | 8580 |
| **Commonbond Student Loan Trust** <br>2.550% due 05/25/2041 | 97 | 93 |
| **CQS U.S. CLO Ltd.** <br>5.084% due 01/20/2035 •  | 9100 | 9109 |
| **Cumulus Static CLO DAC** <br>3.264% due 11/15/2033 •  | 5118 | 6024 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CVC Cordatus Loan Fund XII DAC** <br>0.000% due 01/23/2039 •(a) | 1920 | 2256 |
| **Dryden 27 R Euro CLO DAC** <br>2.686% due 04/15/2033 •  | 11137 | 13095 |
| **Dryden 52 Euro CLO DAC** <br>2.924% due 05/15/2034 •  | 9188 | 10810 |
| **ECMC Group Student Loan Trust** <br>4.739% due 02/27/2068 •  | $9188 | 9144 |
| **Elevation CLO Ltd.** <br>5.158% due 01/25/2035 •  | 4700 | 4707 |
| **Fortress Credit BSL VII Ltd.** <br>4.950% due 07/23/2032 •  | 4272 | 4277 |
| **Gallatin CLO VIII Ltd.** <br>5.256% due 07/15/2031 •  | 10665 | 10671 |
| **Golub Capital Partners CLO 50B-R Ltd.** <br>4.994% due 04/20/2035 •  | 10500 | 10500 |
| **GreatAmerica Leasing Receivables Funding LLC** <br>4.520% due 10/15/2027 | 2295 | 2304 |
| **Greywolf CLO III Ltd.** <br>5.087% due 04/22/2033 •  | 697 | 698 |
| **Grosvenor Place CLO DAC** <br>3.383% due 08/15/2039 •  | 13600 | 15983 |
| **Harvest CLO XXI DAC**  |  |  |
| 1.040% due 07/15/2031  | 126 | 146 |
| 2.769% due 07/15/2031 •  | 8583 | 10095 |
| **Hayfin Emerald CLO VI DAC** <br>3.259% due 10/15/2038 •  | 2550 | 2999 |
| **ICG U.S. CLO Ltd.** <br>4.884% due 01/16/2033 •  | $5142 | 5147 |
| **Invesco CLO Ltd.** <br>5.034% due 07/20/2035 •  | 13000 | 13001 |
| **Jamestown CLO XVI Ltd.** <br>4.978% due 07/25/2034 •  | 7000 | 7001 |
| **Jamestown CLO XVIII Ltd.** <br>5.128% due 07/25/2035 •  | 12800 | 12819 |
| **Jubilee CLO DAC** <br>2.659% due 04/15/2031 •  | 5081 | 5974 |
| **KKR CLO 16 Ltd.** <br>4.988% due 10/20/2034 •  | $15550 | 15555 |
| **KKR CLO 36 Ltd.** <br>5.055% due 10/15/2034 •  | 18300 | 18306 |
| **LCM 30 Ltd.** <br>5.226% due 04/20/2031 •  | 3488 | 3491 |
| **LCM 35 Ltd.** <br>4.985% due 10/15/2034 •  | 5600 | 5599 |
| **Madison Park Funding XLVI Ltd.** <br>4.905% due 10/15/2034 •  | 10000 | 9993 |
| **Mountain View CLO XIV Ltd.** <br>6.813% due 10/15/2034 •  | 19150 | 19157 |
| **Navesink CLO 2 Ltd.** <br>5.175% due 04/15/2036 •  | 4500 | 4500 |
| **Navient Private Education Refi Loan Trust**  |  |  |
| 1.310% due 01/15/2069  | 4734 | 4483 |
| 1.580% due 04/15/2070  | 6167 | 5609 |
| 1.690% due 05/15/2069  | 2716 | 2567 |
| 4.865% due 04/15/2069 •  | 2471 | 2459 |
| **Navient Refinance Loan Trust** <br>4.800% due 10/15/2055 | 13962 | 14004 |
| **Nelnet Student Loan Trust**  |  |  |
| 4.650% due 08/20/2054  | 13500 | 13464 |
| 4.670% due 06/22/2065  | 28287 | 28214 |
| 4.689% due 09/27/2038 •  | 6391 | 6372 |
| 4.839% due 02/25/2066 •  | 4338 | 4344 |
| 4.840% due 05/17/2055  | 14971 | 15035 |
| **Northwoods Capital XII-B Ltd.** <br>4.913% due 06/15/2031 •  | 1018 | 1019 |
| **Ocean Trails CLO XI** <br>4.914% due 07/20/2034 •  | 20100 | 20050 |
| **Palmer Square European Loan Funding DAC**  |  |  |
| 2.859% due 10/15/2034 •  | 14492 | 17044 |
| 3.047% due 07/15/2035 •  | 12500 | 14692 |
| **PFS Financing Corp.** <br>5.520% due 10/15/2028 | $8000 | 8094 |
| **Post Road Equipment Finance LLC** <br>4.900% due 05/15/2031 | 2119 | 2136 |
| **PPM CLO 3 Ltd.** <br>5.002% due 07/17/2034 •  | 12300 | 12301 |
| **Providus CLO V DAC** <br>3.314% due 11/15/2039 •  | 13400 | 15761 |
| **Regatta XVI Funding Ltd.** <br>5.105% due 01/15/2033 •  | $1124 | 1125 |
| **SLM Student Loan Trust**  |  |  |
| 4.439% due 06/25/2043 •  | 10397 | 10228 |
| 4.639% due 06/26/2028 •  | 5893 | 5895 |
| 4.639% due 12/27/2038 •  | 5304 | 5282 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **SMB Private Education Loan Trust**  |  |  |
| 1.290% due 07/15/2053  | 4836 | 4625 |
| 4.965% due 07/15/2053 •  | 591 | 593 |
| 5.240% due 03/15/2056  | 3061 | 3118 |
| 5.380% due 07/15/2053  | 4288 | 4381 |
| 5.634% due 09/15/2053 •  | 2781 | 2831 |
| 5.670% due 11/15/2052  | 4146 | 4261 |
| **Symphony CLO XXV Ltd.** <br>4.874% due 04/19/2034 •  | 3000 | 3000 |
| **Trinitas CLO VI Ltd.** <br>4.968% due 01/25/2034 •  | 5400 | 5402 |
| **Trinitas CLO XVII Ltd.** <br>5.034% due 10/20/2034 •  | 2500 | 2501 |
| **Venture 33 CLO Ltd.** <br>5.226% due 07/15/2031 •  | 1521 | 1522 |
| **Venture 44 CLO Ltd.** <br>5.024% due 10/20/2034 •  | 5300 | 5302 |
| **Verizon Master Trust** <br>4.170% due 08/20/2030 | 9200 | 9262 |
| **Voya CLO Ltd.** <br>4.944% due 04/20/2034 •  | 8000 | 7999 |
| **Wellfleet CLO Ltd.** <br>5.055% due 07/15/2034 •  | 7150 | 7153 |
| **Whetstone Park CLO Ltd.** <br>4.954% due 01/20/2035 •  | 4600 | 4600 |
|  |  | 735137 |
| Total Asset-Backed Securities (Cost $1,176,223) |  | 1178951 |
| **SOVEREIGN ISSUES 0.6%**  |  |  |
| **Eagle Funding Luxco SARL** <br>5.500% due 08/17/2030 | 34600 | 35287 |
| **Korea National Oil Corp.** <br>4.551% (SOFRRATE + 0.770%) due 03/31/2028 ~ | 3000 | 3009 |
| Total Sovereign Issues (Cost $37,885) |  | 38296 |
| **SHORT-TERM INSTRUMENTS 4.8%**  |  |  |
| **COMMERCIAL PAPER 1.3%**  |  |  |
| **Edison International** <br>4.550% due 01/06/2026 | 6900 | 6895 |
| **HCA, Inc.**  |  |  |
| 4.100% due 01/21/2026  | 5400 | 5387 |
| 4.120% due 02/04/2026  | 3100 | 3088 |
| 4.300% due 01/05/2026  | 11600 | 11594 |
| 4.300% due 01/07/2026  | 5900 | 5895 |
| 4.300% due 01/13/2026  | 3500 | 3495 |
| **Jabil, Inc.** <br>4.130% due 01/14/2026 | 26200 | 26155 |
| **Southern California Edison Co.** <br>4.550% due 01/05/2026 | 16900 | 16891 |
|  |  | 79400 |
| **REPURCHASE AGREEMENTS (e) 3.3%** |  | 196929 |
| **U.S. TREASURY BILLS 0.2%**  |  |  |
| 3.741% due 01/08/2026 - 04/21/2026 (b)(c)(i) | 9348 | 9283 |
| Total Short-Term Instruments (Cost $285,629) |  | 285612 |
| Total Investments in Securities (Cost $6,073,850) |  | 6085187 |
| Total Investments 101.0% (Cost $6,073,850) |  | $6085187 |
| **Financial Derivative Instruments (f)(h) (0.1)**%(Cost or Premiums, net $5,077) |  | (4352) |
| Other Assets and Liabilities, net (0.9)% |  | (54517) |
| Net Assets 100.0% |  | $6026318 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED 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.** |
| **«** | **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).** | **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.** | **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.** | **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.** | **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.** | **When-issued security.** | **When-issued security.** |
| **(b)** | **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.** | **Coupon represents a weighted average yield to maturity.** |
| **(c)** | **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.** | **Zero coupon security.** |
| **(d)** | **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.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** |
| **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** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **(e)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Lending<br>Rate | Maturity<br>Date | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | BOS | 3.750%  | 01/02/2026 | 4000 | &nbsp;&nbsp; U.S. Treasury Notes 0.625% due 08/15/2030 | &nbsp;&nbsp; U.S. Treasury Notes 0.625% due 08/15/2030 | &nbsp;&nbsp; U.S. Treasury Notes 0.625% due 08/15/2030 | (4077) | (4077) | 4000 | $ | 4001 |
| BUS | BUS | 2.230  | 01/14/2026 | 120000 | &nbsp;&nbsp; Province of Manitoba 2.850% due 09/05/2046 | &nbsp;&nbsp; Province of Manitoba 2.850% due 09/05/2046 | &nbsp;&nbsp; Province of Manitoba 2.850% due 09/05/2046 | (29990) | (29990) | 87429 |  | 87429 |
|  |  |  |  |  | &nbsp;&nbsp; Province of Saskatchewan 2.350% - 3.900% due 06/02/2045 - 06/02/2060 | &nbsp;&nbsp; Province of Saskatchewan 2.350% - 3.900% due 06/02/2045 - 06/02/2060 | &nbsp;&nbsp; Province of Saskatchewan 2.350% - 3.900% due 06/02/2045 - 06/02/2060 | (60642) | (60642) |  |  |  |
| SAL | SAL | 3.870  | 01/02/2026 | 105500 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 11/27/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 11/27/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 11/27/2026 | (107663) | (107663) | 105500 |  | 105523 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  | **(202372)** | **(202372)** | **196929** | **$** | **196953** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |
| **The average amount of borrowings outstanding during the period ended December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. 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 December 31, 2025 was $(78869) at a weighted average interest rate of 4.515%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** |
| **(f)** | **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** | **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:** | **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** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Description | Description | # of<br>Contracts | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability | Liability |
| Australia Government 3-Year Bond March Futures  | Australia Government 3-Year Bond March Futures  | Australia Government 3-Year Bond March Futures  | Australia Government 3-Year Bond March Futures  | 4749 | 4749 | $332757 | $301 | 301 | $91 | 91 | $(91) | (91) |
| Canada Government 5-Year Bond March Futures  | Canada Government 5-Year Bond March Futures  | Canada Government 5-Year Bond March Futures  | Canada Government 5-Year Bond March Futures  | 1848 | 1848 | 152534 | (952) | (952) | 0 | 0 | (27) | (27) |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 11634 | 11634 | 1271651 | (1774) | (1774) | 0 | 0 | (1364) | (1364) |
|  |  |  |  |  |  |  | (2425) | $ | 91 | $ | (1482) | (1482) |
| **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 | # of<br>Contracts | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability | Liability |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 4020 | 4020 | $(839332) | $492 | 492 | $283 | 283 | $0 | 0 |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 681 | 681 | (80358) | 661 | 661 | 255 | 255 | 0 | 0 |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 1088 | 1088 | (125137) | 127 | 127 | 204 | 204 | 0 | 0 |
|  |  |  |  |  |  |  | 1280 | $ | 742 | $ | 0 | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **(1145)** | **$** | **833** | **$** | **(1482)** | **(1482)** |

---

------

<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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:** |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date |  | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | 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 | Pay | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 3.750% | Annual | Annual | Annual | 09/17/2030 | GBP | 103200 | (501) | (501) | (501) | $1073 | 1073 | $572 | 572 | 116 | 116 | $0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.100 | Annual | Annual | Annual | 02/11/2026 | $ | 912700 | 1132 | 1132 | 1132 | 313 | 313 | 1445 | 1445 | 0 | 0 | (4) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.862 | Annual | Annual | Annual | 02/28/2029 |  | 145200 | 0 | 0 | 0 | (1669) | (1669) | (1669) | (1669) | 148 | 148 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | Annual | 12/18/2029 |  | 195900 | (718) | (718) | (718) | (1869) | (1869) | (2587) | (2587) | 255 | 255 | 0 |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.290 | Annual | Annual | Annual | 05/31/2030 |  | 341511 | 37 | 37 | 37 | 1416 | 1416 | 1453 | 1453 | 488 | 488 | 0 |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.375 | Annual | Annual | Annual | 05/31/2030 |  | 453348 | 445 | 445 | 445 | 1 | 1 | 446 | 446 | 649 | 649 | 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** | **Total Swap Agreements** | **$** | **395** | **395** | **$** | **(735)** | **(735)** | **(340)** | **$** | **1656** | **$** | **(4)** |
| **(g)** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $14,616 and cash of $34,088 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <sup>(1)</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. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. |
| **(h)** | **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** | **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:** | **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> | <u>Unrealized Appreciation/(Depreciation)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month |  | Currency to<br>be Delivered | 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 | Currency to<br>be Received | Asset | Asset | Asset | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 01/2026  | 01/2026  | 01/2026  | 01/2026  | AUD | 96353 | 96353 | 96353 | $ | 62631 | 62631 | 62631 | 62631 | 0 | 0 | 0 | (1665) | (1665) |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | 01/2026  | 01/2026  | 01/2026  | 01/2026  | JPY | 22753 | 22753 | 22753 |  | 146 | 146 | 146 | 146 | 1 | 1 | 1 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 01/2026  | 01/2026  | 01/2026  | AUD | 2450 | 2450 | 2450 |  | 1631 | 1631 | 1631 | 1631 | 0 | 0 | 0 | (4) | (4) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  | EUR | 1165 | 1165 | 1165 |  | 1361 | 1361 | 1361 | 1361 | 0 | 0 | 0 | (7) | (7) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  | ILS | 2588 | 2588 | 2588 |  | 804 | 804 | 804 | 804 | 0 | 0 | 0 | (8) | (8) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  | $ | $43563 | 43563 | 43563 | AUD | 66180 | 66180 | 66180 | 66180 | 598 | 598 | 598 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | 01/2026  | 01/2026  | 01/2026  | 01/2026  | AUD | 196385 | 196385 | 196385 | $ | 127555 | 127555 | 127555 | 127555 | 0 | 0 | 0 | (3492) | (3492) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  | CAD | 120088 | 120088 | 120088 |  | 87590 | 87590 | 87590 | 87590 | 18 | 18 | 18 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  | GBP | 21024 | 21024 | 21024 |  | 27609 | 27609 | 27609 | 27609 | 0 | 0 | 0 | (694) | (694) |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | &nbsp;&nbsp;&nbsp;&nbsp; GLM | &nbsp;&nbsp;&nbsp;&nbsp; GLM | 01/2026  | 01/2026  | 01/2026  | 01/2026  | $ | $805 | 805 | 805 | ILS | 2601 | 2601 | 2601 | 2601 | 11 | 11 | 11 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 01/2026  | 01/2026  | 01/2026  | CAD | 3749 | 3749 | 3749 | $ | 2664 | 2664 | 2664 | 2664 | 0 | 0 | 0 | (70) | (70) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  | EUR | 174417 | 174417 | 174417 |  | 202611 | 202611 | 202611 | 202611 | 0 | 0 | 0 | (2268) | (2268) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  | GBP | 1040 | 1040 | 1040 |  | 1382 | 1382 | 1382 | 1382 | 0 | 0 | 0 | (18) | (18) |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  | JPY | 1246 | 1246 | 1246 |  | 8 | 8 | 8 | 8 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; RYL | &nbsp;&nbsp;&nbsp;&nbsp; RYL | &nbsp;&nbsp;&nbsp;&nbsp; RYL | 01/2026  | 01/2026  | 01/2026  | 01/2026  | $ | $4532 | 4532 | 4532 | EUR | 3896 | 3896 | 3896 | 3896 | 45 | 45 | 45 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 01/2026  | 01/2026  | 01/2026  | 01/2026  | JPY | 17650 | 17650 | 17650 | $ | 114 | 114 | 114 | 114 | 1 | 1 | 1 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  | $ | $1976 | 1976 | 1976 | GBP | 1461 | 1461 | 1461 | 1461 | 0 | 0 | 0 | (9) | (9) |
|  |  |  | 02/2026  | 02/2026  | 02/2026  | 02/2026  |  | 105 | 105 | 105 | HUF | 34530 | 34530 | 34530 | 34530 | 0 | 0 | 0 | 0 | 0 |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | **674** | **674** | **$** | **(8235)** | **(8235)** |
| **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** |
| **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** | **INTEREST RATE SWAPTIONS** |
| Counterparty | Counterparty | Description | Description | Description | Description | Floating Rate<br>Index | Floating Rate<br>Index | Floating Rate<br>Index | Floating Rate<br>Index | Exercise<br>Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Cost | Cost |  | Market<br>Value |
| BPS | BPS | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 4.250% | 4.250% | 4.250% | 12/09/2026 | 12/09/2026 | 13600 | 13600 | 6 | 6 | $ | 4 |
| CBK | CBK | Call - OTC 1-Year Interest Rate Swap  | Call - OTC 1-Year Interest Rate Swap  | Call - OTC 1-Year Interest Rate Swap  | Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 2.500 | 2.500 | 2.500 | 02/13/2026 | 02/13/2026 | 1868100 | 1868100 | 1244 | 1244 |  | 28 |
| FAR | FAR | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 4.250 | 4.250 | 4.250 | 12/09/2026 | 12/09/2026 | 1552000 | 1552000 | 708 | 708 |  | 407 |
| MYC | MYC | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.650 | 3.650 | 3.650 | 09/09/2026 | 09/09/2026 | 898300 | 898300 | 903 | 903 |  | 608 |
| NGF | NGF | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3-Month USD-SOFR | 3.650 | 3.650 | 3.650 | 09/09/2026 | 09/09/2026 | 1713400 | 1713400 | 1821 | 1821 |  | 1159 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **4682** | **4682** | **$** | **2206** |
| **(i)** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $8,852 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. | Notional Amount represents the number of contracts. |
| **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** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |

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<br> Consolidated Schedule of Investments PIMCO Short Asset Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | |
|:---|:---|:---|:---|:---|
| **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 12/31/2025 |
| **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** |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | $0 | $2003228 | $0 | $2003228 |
| Industrials | 0 | 894160 | 0 | 894160 |
| Utilities | 0 | 220273 | 0 | 220273 |
| U.S. Government Agencies | 0 | 1010618 | 0 | 1010618 |
| U.S. Treasury Obligations | 0 | 217820 | 0 | 217820 |
| Non-Agency Mortgage-Backed Securities | 0 | 205397 | 30832 | 236229 |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| Automobile ABS Other | 0 | 118396 | 0 | 118396 |
| Automobile Sequential | 0 | 223126 | 0 | 223126 |
| CMBS Other | 0 | 1863 | 0 | 1863 |
| Credit Card Bullet | 0 | 72623 | 0 | 72623 |
| Credit Card Other | 0 | 27806 | 0 | 27806 |
| Other ABS | 0 | 735137 | 0 | 735137 |
| Sovereign Issues | 0 | 38296 | 0 | 38296 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Commercial Paper | 0 | 79400 | 0 | 79400 |
| Repurchase Agreements | 0 | 196929 | 0 | 196929 |
| U.S. Treasury Bills | 0 | 9283 | 0 | 9283 |
| Total Investments | $0 | $6054355 | $30832 | $6085187 |
| **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 | 91 | 2398 | 0 | 2489 |
| Over the counter | 0 | 2880 | 0 | 2880 |
|  | $91 | $5278 | $0 | $5369 |
| **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 | (118) | (1368) | 0 | (1486) |
| Over the counter | 0 | (8235) | 0 | (8235) |
|  | $(118) | $(9603) | $0 | $(9721) |
| Total Financial Derivative Instruments | $(27) | $(4325) | $0 | $(4352) |
| Totals | $(27) | $6050030 | $30832 | $6080835 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Schedule of Investments PIMCO Short-Term Floating NAV Portfolio II December 31, 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)** |
|  | PRINCIPAL<br>AMOUNT<br>(000s) | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 119.7% ¤** |  |  |
| **CORPORATE BONDS & NOTES 13.3%**  |  |  |
| **BANKING & FINANCE 8.7%**  |  |  |
| **ABN AMRO Bank NV** <br>1.542% due 06/16/2027 •  | $5300 | $5236 |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**  |  |  |
| 1.750% due 01/30/2026  | 7500 | 7487 |
| 2.450% due 10/29/2026  | 21300 | 21016 |
| **Air Lease Corp.**  |  |  |
| 1.875% due 08/15/2026  | 1262 | 1244 |
| 2.875% due 01/15/2026  | 206 | 206 |
| 3.750% due 06/01/2026  | 971 | 969 |
| **American Express Co.**  |  |  |
| 4.498% (SOFRINDX + 0.650%) due 11/04/2026 ~  | 6800 | 6825 |
| 4.574% (SOFRRATE + 0.760%) due 02/13/2026 ~  | 1600 | 1600 |
| 4.857% (SOFRINDX + 0.970%) due 07/28/2027 ~  | 3000 | 3011 |
| **American Honda Finance Corp.**  |  |  |
| 4.352% due 12/11/2026 •  | 3144 | 3150 |
| 4.445% due 11/19/2027 •  | 26700 | 26712 |
| 4.605% due 10/06/2026 •  | 11200 | 11219 |
| 4.950% due 01/09/2026  | 600 | 600 |
| **American Tower Corp.**  |  |  |
| 1.450% due 09/15/2026  | 1450 | 1424 |
| 2.750% due 01/15/2027  | 400 | 395 |
| 3.125% due 01/15/2027  | 3000 | 2973 |
| 3.375% due 10/15/2026  | 1600 | 1592 |
| 4.400% due 02/15/2026  | 264 | 264 |
| **Asian Development Bank** <br>4.728% (SOFRINDX + 1.000%) due 06/16/2026 ~ | 10300 | 10344 |
| **Athene Global Funding**  |  |  |
| 1.450% due 01/08/2026  | 1500 | 1499 |
| 4.504% due 08/10/2026 •  | 47500 | 47559 |
| 4.675% (SOFRINDX + 0.850%) due 05/08/2026 ~  | 1000 | 1002 |
| 4.805% (SOFRINDX + 1.030%) due 08/27/2026 ~  | 11900 | 11941 |
| 4.950% due 01/07/2027  | 11600 | 11687 |
| 5.339% due 01/15/2027  | 14700 | 14886 |
| 5.620% due 05/08/2026  | 11378 | 11434 |
| 5.684% due 02/23/2026  | 14500 | 14530 |
| **Australia & New Zealand Banking Group Ltd.** <br>4.336% (SOFRRATE + 0.560%) due 03/18/2026 ~ | 3947 | 3951 |
| **Bank of America Corp.**  |  |  |
| 3.559% due 04/23/2027 •  | 8500 | 8485 |
| 5.080% due 01/20/2027 •  | 23096 | 23108 |
| **Bank of Montreal**  |  |  |
| 4.888% (SOFRINDX + 1.160%) due 12/11/2026 ~  | 510 | 514 |
| 5.073% (SOFRINDX + 1.330%) due 06/05/2026 ~  | 5800 | 5827 |
| **Bank of New York Mellon** <br>4.647% (SOFRINDX + 0.710%) due 04/20/2027 ~ | 4882 | 4889 |
| **Bank of Nova Scotia**  |  |  |
| 4.310% (SOFRINDX + 0.545%) due 03/02/2026 ~  | 1657 | 1658 |
| 4.750% due 02/02/2026  | 496 | 496 |
| **Banque Federative du Credit Mutuel SA**  |  |  |
| 4.935% due 01/26/2026  | 11760 | 11767 |
| 5.038% (SOFRRATE + 1.130%) due 01/23/2027 ~  | 225 | 226 |
| **Barclays PLC**  |  |  |
| 4.375% due 01/12/2026  | 10700 | 10701 |
| 5.829% due 05/09/2027 •  | 22600 | 22731 |
| **BPCE SA**  |  |  |
| 5.100% due 01/26/2026  | 1800 | 1801 |
| 5.975% due 01/18/2027 •  | 10800 | 10807 |
| **Brown & Brown, Inc.** <br>4.600% due 12/23/2026 | 1300 | 1307 |
| **Canadian Imperial Bank of Commerce** <br>1.250% due 06/22/2026 | 700 | 691 |
| **Caterpillar Financial Services Corp.** <br>4.235% due 02/27/2026 •  | 2293 | 2294 |
| **Charles Schwab Corp.** <br>4.334% (SOFRINDX + 0.520%) due 05/13/2026 ~ | 4400 | 4403 |
| **Citibank NA**  |  |  |
| 4.457% (SOFRINDX + 0.590%) due 04/30/2026 ~  | 2100 | 2102 |
| 4.532% (SOFRRATE + 0.708%) due 08/06/2026 ~  | 8200 | 8215 |
| **Citigroup Global Markets Holdings, Inc.** <br>4.190% (SOFRRATE + 0.480%) due 01/20/2026 ~ | 10400 | 10401 |

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<br> Schedule of Investments PIMCO Short-Term Floating NAV Portfolio II (Cont.) December 31, 2025 (Unaudited)

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| | | |
|:---|:---|:---|
| **Citigroup, Inc.** <br>1.122% due 01/28/2027 •  | 22000 | 21950 |
| **Commonwealth Bank of Australia**  |  |  |
| 4.272% (SOFRRATE + 0.460%) due 11/27/2026 ~  | 14400 | 14426 |
| 4.291% (SOFRRATE + 0.520%) due 06/15/2026 ~  | 3800 | 3805 |
| 4.521% (SOFRRATE + 0.750%) due 03/13/2026 ~  | 1500 | 1502 |
| **Cooperatieve Rabobank UA**  |  |  |
| 1.106% due 02/24/2027 •  | 1000 | 996 |
| 4.689% (SOFRINDX + 0.710%) due 01/09/2026 ~  | 28900 | 28903 |
| 4.911% (SOFRINDX + 0.900%) due 10/05/2026 ~  | 450 | 452 |
| **Corebridge Global Funding** <br>5.350% due 06/24/2026 | 1200 | 1208 |
| **Crown Castle, Inc.**  |  |  |
| 1.050% due 07/15/2026  | 23400 | 23019 |
| 3.700% due 06/15/2026  | 660 | 659 |
| 4.000% due 03/01/2027  | 600 | 599 |
| 4.450% due 02/15/2026  | 1500 | 1500 |
| **Deutsche Bank AG**  |  |  |
| 1.686% due 03/19/2026  | 735 | 732 |
| 2.311% due 11/16/2027 •  | 1275 | 1255 |
| 4.100% due 01/13/2026  | 3090 | 3090 |
| **Equinix, Inc.** <br>2.900% due 11/18/2026 | 3400 | 3368 |
| **European Bank for Reconstruction & Development** <br>4.153% (SOFRINDX + 0.190%) due 04/14/2026 ~ | 30000 | 29997 |
| **GA Global Funding Trust** <br>1.625% due 01/15/2026 | 900 | 899 |
| **General Motors Financial Co., Inc.** <br>1.250% due 01/08/2026 | 2900 | 2899 |
| **Goldman Sachs Bank USA**  |  |  |
| 4.495% (SOFRRATE + 0.770%) due 03/18/2027 ~  | 2600 | 2603 |
| 4.539% (SOFRRATE + 0.750%) due 05/21/2027 ~  | 8900 | 8914 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 1.431% due 03/09/2027 •  | 24700 | 24575 |
| 1.542% due 09/10/2027 •  | 5700 | 5602 |
| 1.948% due 10/21/2027 •  | 24100 | 23698 |
| 4.548% due 03/09/2027 •  | 3400 | 3404 |
| 4.550% (SOFRRATE + 0.820%) due 09/10/2027 ~  | 1600 | 1603 |
| 4.850% (SOFRRATE + 0.920%) due 10/21/2027 ~  | 4513 | 4529 |
| 5.871% (US0003M + 1.750%) due 10/28/2027 ~  | 1331 | 1348 |
| **International Bank for Reconstruction & Development**  |  |  |
| 4.000% (SOFRINDX + 0.270%) due 06/15/2027 ~  | 7500 | 7505 |
| 4.076% (SOFRINDX + 0.280%) due 02/23/2027 ~  | 2300 | 2303 |
| 4.357% due 01/12/2027 •  | 8500 | 8511 |
| **Jackson National Life Global Funding**  |  |  |
| 4.900% due 01/13/2027  | 1000 | 1009 |
| 5.500% due 01/09/2026  | 700 | 700 |
| 5.600% due 04/10/2026  | 2900 | 2912 |
| **John Deere Capital Corp.**  |  |  |
| 4.345% (SOFRRATE + 0.570%) due 03/03/2026 ~  | 2400 | 2402 |
| 4.541% due 06/08/2026 •  | 910 | 913 |
| **JPMorgan Chase & Co.**  |  |  |
| 1.040% due 02/04/2027 •  | 800 | 798 |
| 1.470% due 09/22/2027 •  | 2618 | 2571 |
| 3.960% due 01/29/2027 •  | 34600 | 34594 |
| 4.797% (SOFRRATE + 0.885%) due 04/22/2027 ~  | 1700 | 1704 |
| **JPMorgan Chase Bank NA** <br>4.493% due 04/29/2026 •  | 900 | 901 |
| **Kreditanstalt fuer Wiederaufbau** <br>4.896% (SOFRINDX + 1.000%) due 10/30/2026 ~ | 7400 | 7449 |
| **Landeskreditbank Baden-Wuerttemberg Foerderbank**  |  |  |
| 4.829% (SOFRINDX + 1.000%) due 02/11/2027 ~  | 1800 | 1816 |
| 4.835% (SOFRINDX + 1.000%) due 05/08/2026 ~  | 17000 | 17047 |
| **MassMutual Global Funding II** <br>4.955% (SOFRRATE + 0.980%) due 07/10/2026 ~ | 300 | 301 |
| **Morgan Stanley**  |  |  |
| 1.512% due 07/20/2027 •  | 1600 | 1578 |
| 1.593% due 05/04/2027 •  | 8100 | 8030 |
| 5.050% due 01/28/2027 •  | 11600 | 11608 |
| **Morgan Stanley Bank NA** <br>4.644% (SOFRRATE + 0.685%) due 10/15/2027 ~ | 8500 | 8519 |
| **National Australia Bank Ltd.** <br>4.442% (SOFRRATE + 0.550%) due 01/29/2026 ~ | 450 | 450 |
| **Nationwide Building Society** <br>4.000% due 09/14/2026 | 400 | 399 |
| **NatWest Group PLC** <br>4.800% due 04/05/2026 | 2750 | 2757 |
| **New York Life Global Funding**  |  |  |
| 4.218% (SOFRRATE + 0.480%) due 06/09/2026 ~  | 3835 | 3839 |
| 4.526% due 01/16/2026 •  | 9000 | 9002 |
| **Nomura Holdings, Inc.** <br>1.653% due 07/14/2026 | 5800 | 5729 |
| **Nordea Bank Abp** <br>1.500% due 09/30/2026 | 1000 | 983 |
| **Pacific Life Global Funding II** <br>4.328% due 03/27/2026 •  | 2755 | 2757 |

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<br> Schedule of Investments PIMCO Short-Term Floating NAV Portfolio II (Cont.) December 31, 2025 (Unaudited)

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| | | |
|:---|:---|:---|
| **PNC Bank NA** <br>4.459% (SOFRRATE + 0.500%) due 01/15/2027 ~ | 22900 | 22928 |
| **PNC Financial Services Group, Inc.** <br>4.758% due 01/26/2027 •  | 2838 | 2839 |
| **Principal Life Global Funding II** <br>5.000% due 01/16/2027 | 5400 | 5454 |
| **Protective Life Global Funding**  |  |  |
| 4.412% (SOFRRATE + 0.500%) due 07/22/2026 ~  | 21500 | 21534 |
| 4.992% due 01/12/2027  | 288 | 291 |
| 5.209% due 04/14/2026  | 3800 | 3812 |
| **Royal Bank of Canada**  |  |  |
| 4.314% (SOFRINDX + 0.460%) due 08/03/2026 ~  | 1000 | 1001 |
| 4.462% (SOFRRATE + 0.525%) due 01/20/2026 ~  | 10100 | 10102 |
| 4.466% (SOFRINDX + 0.570%) due 04/27/2026 ~  | 600 | 601 |
| 4.510% due 10/18/2027 •  | 10100 | 10142 |
| 4.875% due 01/12/2026  | 4290 | 4291 |
| **Santander Holdings USA, Inc.** <br>3.244% due 10/05/2026 | 25600 | 25447 |
| **Standard Chartered PLC** <br>4.050% due 04/12/2026 | 1600 | 1600 |
| **Sumitomo Mitsui Financial Group, Inc.**  |  |  |
| 1.402% due 09/17/2026  | 20090 | 19741 |
| 2.632% due 07/14/2026  | 5700 | 5661 |
| 3.784% due 03/09/2026  | 30691 | 30682 |
| 5.289% (SOFRRATE + 1.300%) due 07/13/2026 ~  | 500 | 503 |
| 5.419% (SOFRRATE + 1.430%) due 01/13/2026 ~  | 1499 | 1500 |
| **Sumitomo Mitsui Trust Bank Ltd.** <br>5.650% due 03/09/2026 | 2000 | 2007 |
| **Toronto-Dominion Bank**  |  |  |
| 1.200% due 06/03/2026  | 3600 | 3559 |
| 4.320% (SOFRRATE + 0.590%) due 09/10/2026 ~  | 1900 | 1904 |
| 5.021% (SOFRRATE + 1.080%) due 07/17/2026 ~  | 6300 | 6330 |
| 5.103% due 01/09/2026  | 693 | 693 |
| **Toyota Motor Credit Corp.**  |  |  |
| 4.140% due 06/09/2027 •  | 7000 | 7002 |
| 4.425% (SOFRINDX + 0.450%) due 04/10/2026 ~  | 19060 | 19075 |
| **UBS AG** <br>4.303% (SOFRRATE + 0.500%) due 05/17/2027 ~ | 4000 | 4005 |
| **UBS Group AG**  |  |  |
| 1.305% due 02/02/2027 •  | 3600 | 3590 |
| 1.494% due 08/10/2027 •  | 1400 | 1378 |
| 5.711% due 01/12/2027 •  | 7575 | 7578 |
| **Voya Financial, Inc.** <br>3.650% due 06/15/2026 | 700 | 699 |
| **Wells Fargo & Co.** <br>3.000% due 04/22/2026 | 3400 | 3391 |
| **Wells Fargo Bank NA**  |  |  |
| 4.798% (SOFRRATE + 1.070%) due 12/11/2026 ~  | 6952 | 7001 |
| 4.886% (SOFRRATE + 1.060%) due 08/07/2026 ~  | 875 | 879 |
| **Westpac Banking Corp.** <br>4.376% (SOFRRATE + 0.420%) due 04/16/2026 ~ | 1100 | 1101 |
| **Weyerhaeuser Co.** <br>4.750% due 05/15/2026 | 3350 | 3357 |
|  |  | 965479 |
| **INDUSTRIALS 3.6%**  |  |  |
| **Altria Group, Inc.** <br>4.400% due 02/14/2026 | 10949 | 10949 |
| **BAT Capital Corp.**  |  |  |
| 3.215% due 09/06/2026  | 1500 | 1493 |
| 4.700% due 04/02/2027  | 700 | 705 |
| **BAT International Finance PLC** <br>1.668% due 03/25/2026 | 47198 | 46941 |
| **Boeing Co.**  |  |  |
| 2.196% due 02/04/2026  | 22087 | 22046 |
| 2.250% due 06/15/2026  | 4900 | 4858 |
| 2.750% due 02/01/2026  | 27630 | 27599 |
| 3.100% due 05/01/2026  | 7600 | 7571 |
| **Cigna Group** <br>1.250% due 03/15/2026 | 600 | 597 |
| **Conagra Brands, Inc.** <br>5.300% due 10/01/2026 | 2400 | 2421 |
| **Constellation Brands, Inc.** <br>3.700% due 12/06/2026 | 3200 | 3193 |
| **Cox Communications, Inc.** <br>3.350% due 09/15/2026 | 4800 | 4776 |
| **CVS Health Corp.**  |  |  |
| 2.875% due 06/01/2026  | 2300 | 2289 |
| 3.000% due 08/15/2026  | 3700 | 3676 |
| **Danone SA** <br>2.947% due 11/02/2026 | 10700 | 10614 |
| **Dell International LLC/EMC Corp.** <br>4.900% due 10/01/2026 | 1300 | 1306 |
| **Deutsche Telekom International Finance BV** <br>3.600% due 01/19/2027 | 11700 | 11655 |

---

------

<br> Schedule of Investments PIMCO Short-Term Floating NAV Portfolio II (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Diamondback Energy, Inc.** <br>3.250% due 12/01/2026 | 2500 | 2483 |
| **Enbridge, Inc.** <br>5.900% due 11/15/2026 | 4600 | 4668 |
| **Energy Transfer LP**  |  |  |
| 4.750% due 01/15/2026  | 671 | 671 |
| 6.050% due 12/01/2026  | 2310 | 2348 |
| **Expedia Group, Inc.** <br>5.000% due 02/15/2026 | 166 | 166 |
| **GATX Corp.** <br>3.250% due 09/15/2026 | 1900 | 1891 |
| **General Electric Co.** <br>4.542% (US0003M + 0.380%) due 05/05/2026 ~ | 1500 | 1502 |
| **General Mills, Inc.** <br>4.700% due 01/30/2027 | 5800 | 5845 |
| **GlaxoSmithKline Capital PLC** <br>4.225% (SOFRRATE + 0.500%) due 03/12/2027 ~ | 300 | 301 |
| **Global Payments, Inc.** <br>1.200% due 03/01/2026 | 11600 | 11547 |
| **HCA, Inc.**  |  |  |
| 4.500% due 02/15/2027  | 11006 | 11032 |
| 5.375% due 09/01/2026  | 14300 | 14332 |
| **Hewlett Packard Enterprise Co.** <br>4.450% due 09/25/2026 | 6900 | 6921 |
| **L3Harris Technologies, Inc.** <br>5.400% due 01/15/2027 | 3400 | 3450 |
| **Lockheed Martin Corp.** <br>3.550% due 01/15/2026 | 500 | 500 |
| **Lowe's Cos., Inc.** <br>2.500% due 04/15/2026 | 1232 | 1227 |
| **Marriott International, Inc.** <br>5.450% due 09/15/2026 | 3100 | 3129 |
| **Marvell Technology, Inc.** <br>1.650% due 04/15/2026 | 1700 | 1689 |
| **Mercedes-Benz Finance North America LLC** <br>4.522% (SOFRRATE + 0.630%) due 07/31/2026 ~ | 13000 | 13026 |
| **Molson Coors Beverage Co.** <br>3.000% due 07/15/2026 | 1700 | 1691 |
| **Mondelez International Holdings Netherlands BV** <br>1.250% due 09/24/2026 | 300 | 294 |
| **MPLX LP** <br>1.750% due 03/01/2026 | 9800 | 9762 |
| **NTT Finance Corp.** <br>1.162% due 04/03/2026 | 3295 | 3271 |
| **Oracle Corp.**  |  |  |
| 1.650% due 03/25/2026  | 67100 | 66683 |
| 2.650% due 07/15/2026  | 9300 | 9225 |
| **Penske Truck Leasing Co. LP/PTL Finance Corp.**  |  |  |
| 1.700% due 06/15/2026  | 100 | 99 |
| 5.750% due 05/24/2026  | 312 | 313 |
| **PepsiCo, Inc.** <br>4.214% (SOFRINDX + 0.400%) due 02/13/2026 ~ | 900 | 900 |
| **RTX Corp.** <br>5.000% due 02/27/2026 | 400 | 400 |
| **Starbucks Corp.**  |  |  |
| 2.000% due 03/12/2027  | 434 | 424 |
| 2.450% due 06/15/2026  | 700 | 695 |
| **T-Mobile USA, Inc.**  |  |  |
| 1.500% due 02/15/2026  | 2000 | 1993 |
| 2.250% due 02/15/2026  | 3500 | 3492 |
| 2.625% due 04/15/2026  | 6000 | 5977 |
| **Take-Two Interactive Software, Inc.** <br>5.000% due 03/28/2026 | 3504 | 3512 |
| **TSMC Global Ltd.** <br>1.250% due 04/23/2026 | 3100 | 3074 |
| **UnitedHealth Group, Inc.** <br>4.459% (SOFRRATE + 0.500%) due 07/15/2026 ~ | 4700 | 4708 |
| **VMware LLC** <br>1.400% due 08/15/2026 | 1400 | 1380 |
| **Volkswagen Group of America Finance LLC**  |  |  |
| 3.200% due 09/26/2026  | 510 | 507 |
| 4.555% (SOFRRATE + 0.830%) due 03/20/2026 ~  | 2000 | 2002 |
| 5.400% due 03/20/2026  | 22000 | 22059 |
| 5.700% due 09/12/2026  | 7300 | 7378 |
|  |  | 399256 |
| **UTILITIES 1.0%**  |  |  |
| **Ameren Corp.** <br>5.700% due 12/01/2026 | 10600 | 10748 |
| **AT&T, Inc.** <br>1.700% due 03/25/2026 | 200 | 199 |
| **CenterPoint Energy, Inc.** <br>1.450% due 06/01/2026 | 750 | 742 |
| **Georgia Power Co.** <br>4.003% (SOFRINDX + 0.280%) due 09/15/2026 ~ | 6700 | 6701 |

---

------

<br> Schedule of Investments PIMCO Short-Term Floating NAV Portfolio II (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Monongahela Power Co.** <br>3.550% due 05/15/2027 | 2000 | 1989 |
| **National Rural Utilities Cooperative Finance Corp.** <br>4.358% (SOFRRATE + 0.580%) due 11/22/2026 ~ | 3600 | 3609 |
| **NextEra Energy Capital Holdings, Inc.** <br>4.633% (SOFRINDX + 0.760%) due 01/29/2026 ~ | 6460 | 6463 |
| **ONEOK, Inc.** <br>4.850% due 07/15/2026 | 3600 | 3607 |
| **Pacific Gas & Electric Co.**  |  |  |
| 2.950% due 03/01/2026  | 9500 | 9477 |
| 3.150% due 01/01/2026  | 34594 | 34594 |
| **Pinnacle West Capital Corp.** <br>4.550% (SOFRRATE + 0.820%) due 06/10/2026 ~ | 12100 | 12122 |
| **San Diego Gas & Electric Co.** <br>6.000% due 06/01/2026 | 2400 | 2418 |
| **Southwestern Electric Power Co.** <br>1.650% due 03/15/2026 | 13900 | 13826 |
| **WEC Energy Group, Inc.** <br>4.750% due 01/09/2026 | 1600 | 1600 |
|  |  | 108095 |
| Total Corporate Bonds & Notes (Cost $1,471,507) |  | 1472830 |
| **U.S. GOVERNMENT AGENCIES 1.6%**  |  |  |
| **Federal Home Loan Banks**<br>3.890% due 10/05/2027 •  | 114000 | 113999 |
| **Federal National Mortgage Association**  |  |  |
| 2.120% due 09/01/2026 | 27000 | 26638 |
| 2.400% due 08/01/2026 | 33900 | 33536 |
| 3.343% due 11/01/2026 ~ | 1514 | 1506 |
| Total U.S. Government Agencies (Cost $175,694) |  | 175679 |
| **U.S. TREASURY OBLIGATIONS 0.8%**  |  |  |
| **U.S. Treasury Floating Rate Notes**  |  |  |
| 3.700% due 01/31/2027 •  | 70700 | 70683 |
| 3.784% due 07/31/2026 •  | 18200 | 18207 |
| Total U.S. Treasury Obligations (Cost $88,842) |  | 88890 |
| **ASSET-BACKED SECURITIES 0.2%**  |  |  |
| **AUTOMOBILE SEQUENTIAL 0.2%**  |  |  |
| **American Heritage Auto Receivables Issuer Trust** <br>4.453% due 09/15/2026 | 749 | 750 |
| **Carvana Auto Receivables Trust** <br>4.082% due 12/10/2026 | 5926 | 5928 |
| **Enterprise Fleet Financing LLC**  |  |  |
| 4.103% due 10/20/2026  | 11721 | 11732 |
| 4.555% due 05/20/2026  | 4194 | 4197 |
| **GM Financial Automobile Leasing Trust** <br>4.359% due 08/20/2026 | 356 | 356 |
| **Stellantis Financial Underwritten Enhanced Lease Trust** <br>4.390% due 08/20/2026 | 3272 | 3275 |
| **World Omni Auto Receivables Trust** <br>4.359% due 08/17/2026 | 2562 | 2563 |
| Total Asset-Backed Securities (Cost $28,779) |  | 28801 |
| **SOVEREIGN ISSUES 1.3%**  |  |  |
| **BNG Bank NV** <br>4.860% (SOFRINDX + 1.000%) due 08/05/2026 ~ | 8200 | 8237 |
| **Cassa Depositi e Prestiti SpA** <br>5.750% due 05/05/2026 | 500 | 503 |
| **CPPIB Capital, Inc.** <br>4.412% (SOFRRATE + 0.500%) due 07/27/2026 ~ | 13900 | 13929 |
| **Export Development Canada** <br>3.864% (FEDL01 + 0.224%) due 08/13/2026 ~ | 50000 | 50018 |
| **Kommunalbanken AS** <br>4.725% (SOFRINDX + 1.000%) due 06/17/2026 ~ | 5150 | 5170 |
| **Kommunekredit** <br>4.912% (SOFRRATE + 1.000%) due 07/27/2026 ~ | 4900 | 4923 |
| **Korea Gas Corp.** <br>2.250% due 07/18/2026 | 13500 | 13379 |
| **Korea National Oil Corp.** <br>1.250% due 04/07/2026 | 1200 | 1191 |

---

------

<br> Schedule of Investments PIMCO Short-Term Floating NAV Portfolio II (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Svensk Exportkredit AB** <br>4.860% (SOFRRATE + 1.000%) due 05/05/2027 ~ | 42600 | 43030 |
| Total Sovereign Issues (Cost $140,320) |  | 140380 |
| **SHORT-TERM INSTRUMENTS 102.5%**  |  |  |
| **CERTIFICATES OF DEPOSIT 0.9%**  |  |  |
| **Barclays Bank PLC** <br>4.080% (SOFRRATE + 0.400%) due 11/13/2026 | 12900 | 12903 |
| **BNP Paribas SA** <br>3.970% (SOFRRATE + 0.200%) due 02/26/2026 | 31800 | 31803 |
| **Canadian Imperial Bank of Commerce** <br>4.490% due 01/23/2026 | 310 | 310 |
| **Mizuho Bank Ltd.** <br>3.990% (SOFRRATE + 0.230%) due 04/16/2026 | 8100 | 8101 |
| **MUFG Bank Ltd.** <br>4.240% due 02/04/2026 | 16000 | 16001 |
| **National Bank of Kuwait** <br>4.150% (SOFRRATE + 0.380%) due 05/26/2026 | 6000 | 6000 |
| **Sumitomo Mitsui Banking Corp.** <br>3.990% (SOFRRATE + 0.230%) due 04/07/2026 | 3500 | 3501 |
| **Sumitomo Mitsui Trust** <br>4.100% (SOFRRATE + 0.340%) due 01/22/2026 | 21900 | 21900 |
|  |  | 100519 |
| **COMMERCIAL PAPER 1.3%**  |  |  |
| **Air Lease Corp.**  |  |  |
| 4.180% due 01/07/2026  | 3500 | 3497 |
| 4.180% due 01/09/2026  | 1900 | 1898 |
| 4.220% due 01/12/2026  | 5700 | 5692 |
| **AMETEK, Inc.** <br>4.020% due 01/12/2026 | 10200 | 10187 |
| **Bank of America NA** <br>4.020% due 10/02/2026 | 400 | 400 |
| **Crown Castle, Inc.**  |  |  |
| 4.150% due 01/20/2026  | 84400 | 84204 |
| 4.150% due 01/21/2026  | 8600 | 8579 |
| **Edison International**  |  |  |
| 4.550% due 01/05/2026  | 1300 | 1299 |
| 4.550% due 01/06/2026  | 1600 | 1599 |
| **Equifax, Inc.** <br>4.060% due 01/09/2026 | 3800 | 3796 |
| **HCA, Inc.**  |  |  |
| 4.100% due 01/21/2026  | 4800 | 4789 |
| 4.100% due 01/26/2026  | 700 | 698 |
| 4.120% due 02/02/2026  | 1500 | 1494 |
| 4.120% due 02/04/2026  | 2900 | 2889 |
| 4.120% due 02/12/2026  | 1800 | 1791 |
| **Keurig Dr. Pepper, Inc.** <br>4.000% due 01/07/2026 | 3200 | 3198 |
| **Southern California Edison Co.** <br>4.550% due 01/05/2026 | 8100 | 8096 |
| **TELUS Corp.** <br>4.350% due 03/02/2026 | 300 | 298 |
|  |  | 144404 |
| **REPURCHASE AGREEMENTS (d) 100.1%** |  | 11085356 |
| **SHORT-TERM NOTES 0.2%**  |  |  |
| **ARI Fleet Lease Trust**<br>4.559% due 05/15/2026 | 2790 | 2793 |
| **CarMax Auto Owner Trust**<br>4.474% due 07/15/2026 | 4965 | 4966 |
| **Enterprise Fleet Financing LLC**<br>4.551% due 07/20/2026 | 2174 | 2177 |
| **Federal Home Loan Bank Discount Notes**<br>3.400% due 01/06/2026 (a)(b) | 8100 | 8095 |
| **PenFed Auto Receivables Owner Trust**<br>4.178% due 09/15/2026 | 432 | 432 |
|  |  | 18463 |
| **U.S. TREASURY BILLS 0.0%**  |  |  |
| 3.633% due 02/17/2026 (b)(c) | 1200 | 1195 |

---

------

<br> Schedule of Investments PIMCO Short-Term Floating NAV Portfolio II (Cont.) December 31, 2025 (Unaudited)

---

| | |
|:---|:---|
| Total Short-Term Instruments (Cost $11,349,956) | 11349937 |
| Total Investments in Securities (Cost $13,255,098) | 13256517 |
| Total Investments 119.7% (Cost $13,255,098) | $13256517 |
| Other Assets and Liabilities, net (19.7)% | (2177760) |
| Net Assets 100.0% | $11078757 |

---

------

<br> Schedule of Investments PIMCO Short-Term Floating NAV Portfolio II (Cont.) December 31, 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:**  |
| **\* 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.** |
| **~** | **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.** |
| **(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.** |
| **(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.** |
| **(c)** | **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.** |
| **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** |
| **(d)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BCY | BCY | 3.820%  | 01/02/2026 | 01/05/2026 | $500000 | &nbsp;&nbsp; U.S. Treasury Bonds 4.750% due 11/15/2053 | $(507719) | $500000 | $500000 |
|  |  | 3.900  | 12/31/2025 | 01/02/2026 | 500000 | &nbsp;&nbsp; U.S. Treasury Bonds 4.750% due 11/15/2053 | (507387) | 500000 | 500108 |
| BOS | BOS | 3.720  | 12/22/2025 | 01/21/2026 | 150000 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% due 07/15/2028 | (153202) | 150000 | 150171 |
|  |  | 3.730  | 12/12/2025 | 01/15/2026 | 200000 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 01/31/2030 | (204626) | 200000 | 200435 |
|  |  | 3.750  | 12/31/2025 | 01/02/2026 | 113300 | &nbsp;&nbsp; U.S. Treasury Notes 4.500% due 11/15/2033 | (115366) | 113300 | 113324 |
|  |  | 3.750  | 12/15/2025 | 01/12/2026 | 200000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 10/31/2029 | (204783) | 200000 | 200375 |
|  |  | 3.760  | 12/17/2025 | 01/06/2026 | 800000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 08/15/2028 | (817165) | 800000 | 801337 |
|  |  | 3.760  | 12/15/2025 | 01/09/2026 | 200000 | &nbsp;&nbsp; U.S. Treasury Notes 1.000% due 07/31/2028 | (204636) | 200000 | 200376 |
|  |  | 3.760  | 12/18/2025 | 01/12/2026 | 375000 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% due 06/15/2028 | (383264) | 375000 | 375587 |
|  |  | 3.760  | 12/18/2025 | 01/13/2026 | 100000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2029 | (102200) | 100000 | 100157 |
|  |  | 3.760  | 12/18/2025 | 01/15/2026 | 200000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 08/31/2029 | (204255) | 200000 | 200313 |
|  |  | 3.760  | 12/26/2025 | 01/20/2026 | 75000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 02/29/2028 | (76620) | 75000 | 75055 |
|  |  | 3.770  | 12/16/2025 | 01/06/2026 | 400000 | &nbsp;&nbsp; U.S. Treasury Notes 4.250% due 01/15/2028 | (409203) | 400000 | 400712 |
|  |  | 3.770  | 12/18/2025 | 01/06/2026 | 550000 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% - 4.000% due 05/31/2027 - 12/15/2027 | (561801) | 550000 | 550864 |
|  |  | 3.770  | 01/02/2026 | 01/07/2026 | 1500000 | &nbsp;&nbsp; U.S. Treasury Notes 2.875% - 4.875% due 01/31/2029 - 03/31/2031 | (1530500) | 1500000 | 1500000 |
|  |  | 3.780  | 12/11/2025 | 01/13/2026 | 50000 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% due 03/15/2028 | (51179) | 50000 | 50116 |
|  |  | 3.790  | 12/11/2025 | 01/02/2026 | 50000 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2026 | (51146) | 50000 | 50116 |
|  |  | 3.790  | 01/02/2026 | 01/05/2026 | 115000 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% - 3.500% due 11/30/2030 - 02/15/2031 | (117298) | 115000 | 115000 |
|  |  | 3.790  | 12/31/2025 | 01/06/2026 | 375000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% - 4.125% due 05/31/2028 - 07/31/2028 | (382461) | 375000 | 375079 |
|  |  | 3.800  | 12/19/2025 | 01/16/2026 | 100000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 08/31/2029 | (101999) | 100000 | 100148 |
|  |  | 3.820  | 12/19/2025 | 01/05/2026 | 100000 | &nbsp;&nbsp; U.S. Treasury Notes 0.500% due 08/31/2027 | (102169) | 100000 | 100149 |
|  |  | 3.840  | 12/10/2025 | 01/09/2026 | 325000 | &nbsp;&nbsp; U.S. Treasury Notes 4.250% due 02/28/2029 | (333409) | 325000 | 325797 |
|  |  | 3.850  | 12/09/2025 | 01/05/2026 | 100000 | &nbsp;&nbsp; U.S. Treasury Notes 3.750% due 05/15/2028 | (102452) | 100000 | 100257 |
|  |  | 3.850  | 12/26/2025 | 01/05/2026 | 475000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 12/15/2027 | (485399) | 475000 | 475356 |
|  |  | 3.850  | 12/29/2025 | 01/06/2026 | 375000 | &nbsp;&nbsp; U.S. Treasury Notes 4.250% due 06/30/2029 | (375072) | 375000 | 375160 |
|  |  | 3.860  | 12/10/2025 | 01/02/2026 | 400000 | &nbsp;&nbsp; U.S. Treasury Notes 2.750% due 05/31/2029 | (410306) | 400000 | 400986 |
|  |  | 3.870  | 12/31/2025 | 01/02/2026 | 1213200 | &nbsp;&nbsp; U.S. Treasury Notes 2.750% - 4.000% due 07/31/2027 - 01/31/2031 | (1237558) | 1213200 | 1213461 |
|  |  | 3.900  | 12/31/2025 | 01/02/2026 | 125000 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 09/30/2029 | (127528) | 125000 | 125027 |
|  |  | 3.750  | 12/31/2025 | 01/02/2026 | 77600 | &nbsp;&nbsp; U.S. Treasury Bonds 1.750% due 08/15/2041 | (78809) | 77600 | 77616 |
| BPS | BPS | 3.750  | 01/02/2026 | 01/05/2026 | 40000 | &nbsp;&nbsp; U.S. Treasury Bonds 1.750% due 08/15/2041 | (40699) | 40000 | 40000 |
|  |  | 3.930  | 12/31/2025 | 01/02/2026 | 4900 | &nbsp;&nbsp; U.S. Treasury Inflation Protected Securities 1.375% due 07/15/2033 | (4993) | 4900 | 4901 |
| BRC | BRC | 3.900  | 12/31/2025 | 01/02/2026 | 100000 | &nbsp;&nbsp; U.S. Treasury Inflation-Indexed Notes 1.875% due 07/15/2035 | (101779) | 100000 | 100022 |
| FICC STR | FICC STR | 3.820  | 12/31/2025 | 01/02/2026 | 594700 | &nbsp;&nbsp; U.S. Treasury Notes 4.375% due 12/31/2029 | (606594) | 594700 | 594826 |
| JPS | JPS | 3.780  | 11/12/2025 | TBD<sup>(2)</sup> | 490456 | &nbsp;&nbsp; U.S. Treasury Bonds 2.000% - 3.875% due 08/15/2040 - 08/15/2051 | (492142) | 490456 | 493082 |
|  |  | 3.820  | 01/02/2026 | 01/05/2026 | 100000 | &nbsp;&nbsp; U.S. Treasury Inflation Protected Securities 1.625% due 10/15/2029 | (102068) | 100000 | 100000 |
|  |  | 3.900  | 12/31/2025 | 01/02/2026 | 11200 | &nbsp;&nbsp; U.S. Treasury Inflation Protected Securities 0.125% due 04/15/2026 | (11418) | 11200 | 11202 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | $**(11299205)** | $**11085356** | $**11097115** |
| **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $7,840 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |
| <sup>(2)</sup> | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. |

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<br> Schedule of Investments PIMCO Short-Term Floating NAV Portfolio II (Cont.) December 31, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 12/31/2025 |
| **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** |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | $0 | $965479 | $0 | $965479 |
| Industrials | 0 | 399256 | 0 | 399256 |
| Utilities | 0 | 108095 | 0 | 108095 |
| U.S. Government Agencies | 0 | 175679 | 0 | 175679 |
| U.S. Treasury Obligations | 0 | 88890 | 0 | 88890 |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| Automobile Sequential | 0 | 28801 | 0 | 28801 |
| Sovereign Issues | 0 | 140380 | 0 | 140380 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Certificates of Deposit | 0 | 100519 | 0 | 100519 |
| Commercial Paper | 0 | 144404 | 0 | 144404 |
| Repurchase Agreements | 0 | 11085356 | 0 | 11085356 |
| Short-Term Notes | 0 | 18463 | 0 | 18463 |
| U.S. Treasury Bills | 0 | 1195 | 0 | 1195 |
| Total Investments | $0 | $13256517 | $0 | $13256517 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III December 31, 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 116.6% ¤** |  |  |
| **CORPORATE BONDS & NOTES 16.3%**  |  |  |
| **BANKING & FINANCE 11.0%**  |  |  |
| **ABN AMRO Bank NV**  |  |  |
| 1.542% due 06/16/2027 •  | $15989 | $15797 |
| 4.800% due 04/18/2026  | 400 | 401 |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**  |  |  |
| 1.750% due 01/30/2026  | 6490 | 6479 |
| 2.450% due 10/29/2026  | 66919 | 66028 |
| 6.100% due 01/15/2027  | 148 | 151 |
| **Air Lease Corp.**  |  |  |
| 1.875% due 08/15/2026  | 800 | 788 |
| 2.875% due 01/15/2026  | 200 | 200 |
| 3.750% due 06/01/2026  | 700 | 699 |
| **American Express Co.**  |  |  |
| 4.498% (SOFRINDX + 0.650%) due 11/04/2026 ~  | 14396 | 14449 |
| 4.574% (SOFRRATE + 0.760%) due 02/13/2026 ~  | 6700 | 6701 |
| 4.857% (SOFRINDX + 0.970%) due 07/28/2027 ~  | 7815 | 7843 |
| **American Honda Finance Corp.**  |  |  |
| 4.352% due 12/11/2026 •  | 20700 | 20736 |
| 4.443% due 05/20/2026 •  | 30000 | 30049 |
| 4.445% due 11/19/2027 •  | 71300 | 71332 |
| 4.472% due 01/12/2026 •  | 9300 | 9301 |
| 4.605% due 10/06/2026 •  | 7200 | 7212 |
| 4.689% (SOFRRATE + 0.710%) due 01/09/2026 ~  | 2970 | 2970 |
| 4.889% (SOFRRATE + 0.920%) due 01/12/2026 ~  | 2312 | 2312 |
| **American Tower Corp.**  |  |  |
| 1.450% due 09/15/2026  | 4100 | 4026 |
| 1.600% due 04/15/2026  | 305 | 303 |
| 2.750% due 01/15/2027  | 1350 | 1333 |
| 3.125% due 01/15/2027  | 11442 | 11339 |
| 3.375% due 10/15/2026  | 4415 | 4393 |
| 4.400% due 02/15/2026  | 717 | 717 |
| **Asian Development Bank** <br>4.728% (SOFRINDX + 1.000%) due 06/16/2026 ~ | 17400 | 17474 |
| **Athene Global Funding**  |  |  |
| 1.450% due 01/08/2026  | 8721 | 8717 |
| 4.504% due 08/10/2026 •  | 97900 | 98022 |
| 4.675% (SOFRINDX + 0.850%) due 05/08/2026 ~  | 882 | 883 |
| 4.696% due 07/16/2026 •  | 52900 | 52985 |
| 4.805% (SOFRINDX + 1.030%) due 08/27/2026 ~  | 36335 | 36461 |
| 4.824% (SOFRINDX + 0.830%) due 01/07/2027 ~  | 20304 | 20349 |
| 4.938% (SOFRINDX + 1.210%) due 03/25/2027 ~  | 1192 | 1200 |
| 4.950% due 01/07/2027  | 18693 | 18833 |
| 5.339% due 01/15/2027  | 23702 | 24001 |
| 5.620% due 05/08/2026  | 40811 | 41011 |
| 5.684% due 02/23/2026  | 32900 | 32969 |
| **Australia & New Zealand Banking Group Ltd.**  |  |  |
| 4.242% (SOFRRATE + 0.470%) due 12/16/2026 ~  | 5000 | 5011 |
| 4.336% (SOFRRATE + 0.560%) due 03/18/2026 ~  | 4744 | 4749 |
| **Banco Santander SA** <br>1.849% due 03/25/2026 | 1820 | 1811 |
| **Bank of America Corp.**  |  |  |
| 1.658% due 03/11/2027 •  | 1350 | 1344 |
| 3.559% due 04/23/2027 •  | 9000 | 8984 |
| 5.080% due 01/20/2027 •  | 69341 | 69376 |
| **Bank of America NA** <br>4.823% (SOFRRATE + 1.020%) due 08/18/2026 ~ | 1500 | 1507 |
| **Bank of Montreal**  |  |  |
| 4.343% (SOFRINDX + 0.620%) due 09/15/2026 ~  | 3000 | 3007 |
| 4.567% due 09/10/2027 •  | 7400 | 7430 |
| 5.073% (SOFRINDX + 1.330%) due 06/05/2026 ~  | 5504 | 5530 |
| 5.266% due 12/11/2026  | 1640 | 1661 |
| **Bank of New York Mellon** <br>4.647% (SOFRINDX + 0.710%) due 04/20/2027 ~ | 12900 | 12918 |
| **Bank of Nova Scotia**  |  |  |
| 4.310% (SOFRINDX + 0.545%) due 03/02/2026 ~  | 2564 | 2565 |
| 4.333% (SOFRRATE + 0.610%) due 09/15/2026 ~  | 700 | 702 |
| **Banque Federative du Credit Mutuel SA** <br>4.935% due 01/26/2026 | 1000 | 1001 |
| **Barclays PLC**  |  |  |
| 4.375% due 01/12/2026  | 24299 | 24301 |
| 5.829% due 05/09/2027 •  | 79119 | 79577 |

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<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **BPCE SA**  |  |  |
| 1.000% due 01/20/2026  | 500 | 499 |
| 5.100% due 01/26/2026  | 3140 | 3142 |
| 5.975% due 01/18/2027 •  | 33023 | 33043 |
| **Brown & Brown, Inc.** <br>4.600% due 12/23/2026 | 4105 | 4127 |
| **Canadian Imperial Bank of Commerce**  |  |  |
| 1.250% due 06/22/2026  | 800 | 790 |
| 4.947% (SOFRRATE + 1.220%) due 10/02/2026 ~  | 870 | 876 |
| **Capital One NA** <br>4.250% due 03/13/2026 | 1650 | 1651 |
| **Caterpillar Financial Services Corp.**  |  |  |
| 4.235% due 02/27/2026 •  | 1744 | 1745 |
| 4.636% due 10/16/2026 •  | 1825 | 1832 |
| **Charles Schwab Corp.** <br>4.334% (SOFRINDX + 0.520%) due 05/13/2026 ~ | 10072 | 10079 |
| **Citibank NA**  |  |  |
| 4.457% (SOFRINDX + 0.590%) due 04/30/2026 ~  | 6825 | 6831 |
| 4.532% (SOFRRATE + 0.708%) due 08/06/2026 ~  | 33500 | 33563 |
| 4.806% (SOFRINDX + 1.060%) due 12/04/2026 ~  | 500 | 504 |
| **Citigroup Global Markets Holdings, Inc.** <br>4.190% (SOFRRATE + 0.480%) due 01/20/2026 ~ | 45100 | 45106 |
| **Citigroup, Inc.** <br>1.122% due 01/28/2027 •  | 45478 | 45376 |
| **Commonwealth Bank of Australia**  |  |  |
| 4.272% (SOFRRATE + 0.460%) due 11/27/2026 ~  | 41134 | 41208 |
| 4.291% (SOFRRATE + 0.520%) due 06/15/2026 ~  | 6200 | 6208 |
| 4.521% (SOFRRATE + 0.750%) due 03/13/2026 ~  | 566 | 567 |
| **Cooperatieve Rabobank UA**  |  |  |
| 1.106% due 02/24/2027 •  | 8350 | 8314 |
| 1.980% due 12/15/2027 •  | 11700 | 11471 |
| 3.750% due 07/21/2026  | 2055 | 2051 |
| 4.689% (SOFRINDX + 0.710%) due 01/09/2026 ~  | 50300 | 50305 |
| 4.911% (SOFRINDX + 0.900%) due 10/05/2026 ~  | 550 | 553 |
| **Corebridge Global Funding** <br>5.350% due 06/24/2026 | 5647 | 5685 |
| **Crown Castle, Inc.**  |  |  |
| 1.050% due 07/15/2026  | 76339 | 75096 |
| 3.700% due 06/15/2026  | 835 | 833 |
| 4.000% due 03/01/2027  | 4284 | 4276 |
| 4.450% due 02/15/2026  | 5965 | 5964 |
| **Deutsche Bank AG**  |  |  |
| 1.686% due 03/19/2026  | 1620 | 1612 |
| 4.100% due 01/13/2026  | 11398 | 11398 |
| **DLR Kredit AS** <br>1.000% due 01/01/2027 | 120400 | 18763 |
| **Equinix, Inc.** <br>2.900% due 11/18/2026 | $10325 | 10227 |
| **European Bank for Reconstruction & Development** <br>4.153% (SOFRINDX + 0.190%) due 04/14/2026 ~ | 51270 | 51265 |
| **GA Global Funding Trust** <br>1.625% due 01/15/2026 | 2420 | 2418 |
| **General Motors Financial Co., Inc.** <br>1.250% due 01/08/2026 | 9297 | 9293 |
| **Goldman Sachs Bank USA**  |  |  |
| 4.495% (SOFRRATE + 0.770%) due 03/18/2027 ~  | 14809 | 14827 |
| 4.539% (SOFRRATE + 0.750%) due 05/21/2027 ~  | 25592 | 25633 |
| 5.283% due 03/18/2027 •  | 802 | 804 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 1.431% due 03/09/2027 •  | 41306 | 41097 |
| 1.542% due 09/10/2027 •  | 17976 | 17666 |
| 1.948% due 10/21/2027 •  | 77633 | 76338 |
| 4.548% due 03/09/2027 •  | 13996 | 14014 |
| 4.550% (SOFRRATE + 0.820%) due 09/10/2027 ~  | 1560 | 1563 |
| 4.850% (SOFRRATE + 0.920%) due 10/21/2027 ~  | 2003 | 2010 |
| 5.871% (US0003M + 1.750%) due 10/28/2027 ~  | 541 | 548 |
| **ING Bank Australia Ltd.** <br>4.048% (BBSW3M + 0.400%) due 08/19/2026 ~ | 17250 | 11518 |
| **International Bank for Reconstruction & Development**  |  |  |
| 4.000% (SOFRINDX + 0.270%) due 06/15/2027 ~  | $24162 | 24179 |
| 4.076% (SOFRINDX + 0.280%) due 02/23/2027 ~  | 6500 | 6507 |
| 4.357% due 01/12/2027 •  | 27930 | 27965 |
| **Jackson National Life Global Funding**  |  |  |
| 3.050% due 04/29/2026  | 373 | 372 |
| 4.900% due 01/13/2027  | 2400 | 2420 |
| 5.500% due 01/09/2026  | 3705 | 3706 |
| 5.600% due 04/10/2026  | 7655 | 7686 |
| **John Deere Capital Corp.**  |  |  |
| 4.191% (SOFRRATE + 0.440%) due 03/06/2026 ~  | 1850 | 1851 |
| 4.345% (SOFRRATE + 0.570%) due 03/03/2026 ~  | 9730 | 9737 |
| 4.561% due 04/19/2027 •  | 1277 | 1283 |
| 4.657% (SOFRRATE + 0.680%) due 07/15/2027 ~  | 3619 | 3642 |
| **JPMorgan Chase & Co.**  |  |  |
| 1.040% due 02/04/2027 •  | 13915 | 13877 |
| 1.578% due 04/22/2027 •  | 10432 | 10355 |
| 3.300% due 04/01/2026  | 110 | 110 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 3.960% due 01/29/2027 •  | 63168 | 63158 |
| 4.797% (SOFRRATE + 0.885%) due 04/22/2027 ~  | 16100 | 16134 |
| 6.070% due 10/22/2027 •  | 900 | 914 |
| **JPMorgan Chase Bank NA** <br>4.493% due 04/29/2026 •  | 5450 | 5458 |
| **Jyske Realkredit AS** <br>1.000% due 01/01/2027 | 705209 | 109917 |
| **Kreditanstalt fuer Wiederaufbau** <br>4.896% (SOFRINDX + 1.000%) due 10/30/2026 ~ | $25000 | 25166 |
| **Landeskreditbank Baden-Wuerttemberg Foerderbank**  |  |  |
| 4.829% (SOFRINDX + 1.000%) due 02/11/2027 ~  | 26800 | 27031 |
| 4.835% (SOFRINDX + 1.000%) due 05/08/2026 ~  | 34800 | 34896 |
| **MassMutual Global Funding II** <br>4.643% due 01/29/2027 •  | 2012 | 2020 |
| **Morgan Stanley**  |  |  |
| 1.593% due 05/04/2027 •  | 27167 | 26933 |
| 5.050% due 01/28/2027 •  | 51683 | 51719 |
| **Morgan Stanley Bank NA** <br>4.644% (SOFRRATE + 0.685%) due 10/15/2027 ~ | 11250 | 11276 |
| **MUFG Bank Ltd.** <br>4.523% (BBSW3M + 0.870%) due 02/17/2026 ~ | 19700 | 13156 |
| **National Australia Bank Ltd.** <br>4.442% (SOFRRATE + 0.550%) due 01/29/2026 ~ | $1000 | 1000 |
| **Nationwide Building Society** <br>1.500% due 10/13/2026 | 400 | 393 |
| **New York Life Global Funding**  |  |  |
| 4.355% (SOFRRATE + 0.580%) due 08/28/2026 ~  | 12950 | 12982 |
| 4.526% due 01/16/2026 •  | 13000 | 13002 |
| 4.657% (SOFRINDX + 0.930%) due 04/02/2026 ~  | 500 | 501 |
| **Nomura Holdings, Inc.**  |  |  |
| 1.653% due 07/14/2026  | 17575 | 17361 |
| 5.709% due 01/09/2026  | 1278 | 1278 |
| **Nordea Bank Abp** <br>1.500% due 09/30/2026 | 3800 | 3735 |
| **Nordea Kredit Realkreditaktieselskab** <br>1.000% due 10/01/2026 | 730000 | 114080 |
| **Pacific Life Global Funding II**  |  |  |
| 4.328% due 03/27/2026 •  | $325 | 325 |
| 4.366% (SOFRRATE + 0.620%) due 06/04/2026 ~  | 700 | 701 |
| **PNC Bank NA** <br>4.459% (SOFRRATE + 0.500%) due 01/15/2027 ~ | 68350 | 68434 |
| **Principal Life Global Funding II** <br>5.000% due 01/16/2027 | 17746 | 17923 |
| **Protective Life Global Funding**  |  |  |
| 4.412% (SOFRRATE + 0.500%) due 07/22/2026 ~  | 43800 | 43870 |
| 5.209% due 04/14/2026  | 21500 | 21570 |
| **Realkredit Danmark AS** <br>1.000% due 01/01/2027 | 1015786 | 158336 |
| **Royal Bank of Canada**  |  |  |
| 0.875% due 01/20/2026  | $2500 | 2496 |
| 4.314% (SOFRINDX + 0.460%) due 08/03/2026 ~  | 2801 | 2805 |
| 4.462% (SOFRRATE + 0.525%) due 01/20/2026 ~  | 21778 | 21782 |
| 4.466% (SOFRINDX + 0.570%) due 04/27/2026 ~  | 5638 | 5646 |
| 4.510% due 10/18/2027 •  | 43200 | 43380 |
| 5.017% (SOFRINDX + 1.080%) due 07/20/2026 ~  | 5015 | 5038 |
| **Santander Holdings USA, Inc.** <br>3.244% due 10/05/2026 | 61319 | 60953 |
| **Standard Chartered PLC** <br>4.050% due 04/12/2026 | 5250 | 5250 |
| **Sumitomo Mitsui Banking Corp.**  |  |  |
| 4.399% (BBSW3M + 0.900%) due 10/23/2026 ~  | 4200 | 2814 |
| 4.491% (BBSW3M + 0.850%) due 02/20/2026 ~  | 88470 | 59083 |
| **Sumitomo Mitsui Financial Group, Inc.**  |  |  |
| 1.402% due 09/17/2026  | $30285 | 29760 |
| 2.632% due 07/14/2026  | 13238 | 13148 |
| 3.784% due 03/09/2026  | 29200 | 29192 |
| **Sumitomo Mitsui Trust Bank Ltd.**  |  |  |
| 4.866% (SOFRRATE + 1.120%) due 03/09/2026 ~  | 1350 | 1352 |
| 4.908% (SOFRRATE + 1.120%) due 03/09/2026 ~  | 808 | 809 |
| 5.650% due 03/09/2026  | 4101 | 4115 |
| **Toronto-Dominion Bank**  |  |  |
| 1.200% due 06/03/2026  | 10778 | 10656 |
| 4.320% (SOFRRATE + 0.590%) due 09/10/2026 ~  | 1619 | 1622 |
| 4.345% (SOFRRATE + 0.620%) due 12/17/2026 ~  | 6011 | 6031 |
| 4.378% (BBSW3M + 0.650%) due 03/17/2026 ~  | 7200 | 4807 |
| 5.021% (SOFRRATE + 1.080%) due 07/17/2026 ~  | $15656 | 15730 |
| 5.103% due 01/09/2026  | 876 | 876 |
| **Toyota Motor Credit Corp.**  |  |  |
| 4.140% due 06/09/2027 •  | 51500 | 51511 |
| 4.425% (SOFRINDX + 0.450%) due 04/10/2026 ~  | 33012 | 33038 |
| **UBS AG**  |  |  |
| 4.156% (BBSW3M + 0.500%) due 02/26/2026 ~  | 19100 | 12749 |
| 4.303% (SOFRRATE + 0.500%) due 05/17/2027 ~  | $20887 | 20914 |
| 4.934% (BBSW3M + 1.300%) due 05/12/2026 ~  | 3100 | 2076 |
| **UBS Group AG**  |  |  |
| 1.364% due 01/30/2027 •  | $2670 | 2664 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 1.494% due 08/10/2027 •  | 14430 | 14202 |
| 5.711% due 01/12/2027 •  | 1300 | 1301 |
| **United Overseas Bank Ltd.** <br>4.078% (BBSW3M + 0.410%) due 08/27/2026 ~ | 5000 | 3338 |
| **Voya Financial, Inc.** <br>3.650% due 06/15/2026 | $2478 | 2473 |
| **Wells Fargo & Co.**  |  |  |
| 3.000% due 04/22/2026  | 30282 | 30201 |
| 4.100% due 06/03/2026  | 614 | 614 |
| **Westpac Banking Corp.**  |  |  |
| 4.376% (SOFRRATE + 0.420%) due 04/16/2026 ~  | 1708 | 1709 |
| 4.442% (SOFRRATE + 0.550%) due 01/29/2026 ~  | 1035 | 1035 |
| **Weyerhaeuser Co.** <br>4.750% due 05/15/2026 | 4341 | 4351 |
|  |  | 3069107 |
| **INDUSTRIALS 4.2%**  |  |  |
| **Altria Group, Inc.** <br>4.400% due 02/14/2026 | 16434 | 16434 |
| **America Movil SAB de CV** <br>5.000% due 10/27/2026 | 3600 | 4889 |
| **BAT Capital Corp.**  |  |  |
| 3.215% due 09/06/2026  | $19994 | 19899 |
| 4.700% due 04/02/2027  | 11983 | 12072 |
| **BAT International Finance PLC** <br>1.668% due 03/25/2026 | 128176 | 127479 |
| **BMW U.S. Capital LLC**  |  |  |
| 4.277% (SOFRINDX + 0.550%) due 04/02/2026 ~  | 3125 | 3128 |
| 4.614% (SOFRINDX + 0.800%) due 08/13/2026 ~  | 655 | 657 |
| **Boeing Co.**  |  |  |
| 2.196% due 02/04/2026  | 120405 | 120181 |
| 2.250% due 06/15/2026  | 15518 | 15385 |
| 3.100% due 05/01/2026  | 29376 | 29264 |
| **Bristol-Myers Squibb Co.** <br>4.282% (SOFRRATE + 0.490%) due 02/20/2026 ~ | 52 | 52 |
| **Campbell's Co.** <br>5.300% due 03/20/2026 | 6427 | 6442 |
| **Canadian National Railway Co.** <br>2.750% due 03/01/2026 | 3518 | 3511 |
| **Chevron USA, Inc.** <br>4.138% (SOFRINDX + 0.360%) due 02/26/2027 ~ | 172 | 172 |
| **Cigna Group** <br>1.250% due 03/15/2026 | 1786 | 1776 |
| **Constellation Brands, Inc.** <br>3.700% due 12/06/2026 | 8233 | 8215 |
| **Cox Communications, Inc.** <br>3.350% due 09/15/2026 | 15560 | 15482 |
| **CVS Health Corp.**  |  |  |
| 2.875% due 06/01/2026  | 8298 | 8257 |
| 3.000% due 08/15/2026  | 11280 | 11208 |
| **Danone SA** <br>2.947% due 11/02/2026 | 27400 | 27180 |
| **Dell International LLC/EMC Corp.**  |  |  |
| 4.900% due 10/01/2026  | 4186 | 4206 |
| 6.020% due 06/15/2026  | 100 | 100 |
| **Deutsche Telekom International Finance BV** <br>3.600% due 01/19/2027 | 34012 | 33881 |
| **Diamondback Energy, Inc.** <br>3.250% due 12/01/2026 | 7815 | 7761 |
| **Enbridge, Inc.**  |  |  |
| 4.250% due 12/01/2026  | 8290 | 8308 |
| 5.900% due 11/15/2026  | 1965 | 1994 |
| **Energy Transfer LP** <br>4.750% due 01/15/2026 | 8584 | 8586 |
| **Expedia Group, Inc.** <br>5.000% due 02/15/2026 | 117 | 117 |
| **FirstEnergy Pennsylvania Electric Co.** <br>5.150% due 03/30/2026 | 595 | 596 |
| **GATX Corp.** <br>3.250% due 09/15/2026 | 6023 | 5993 |
| **General Electric Co.** <br>4.542% (US0003M + 0.380%) due 05/05/2026 ~ | 3923 | 3929 |
| **General Mills, Inc.** <br>4.700% due 01/30/2027 | 14830 | 14946 |
| **GlaxoSmithKline Capital PLC** <br>4.225% (SOFRRATE + 0.500%) due 03/12/2027 ~ | 387 | 388 |
| **Global Payments, Inc.** <br>1.200% due 03/01/2026 | 13700 | 13637 |
| **HCA, Inc.**  |  |  |
| 3.125% due 03/15/2027  | 10578 | 10471 |
| 4.500% due 02/15/2027  | 1323 | 1326 |
| 5.250% due 06/15/2026  | 700 | 701 |
| 5.375% due 09/01/2026  | 70945 | 71102 |
| **Hewlett Packard Enterprise Co.** <br>4.450% due 09/25/2026 | 22744 | 22815 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Hyundai Capital America** <br>1.300% due 01/08/2026 | 950 | 950 |
| **L3Harris Technologies, Inc.** <br>5.400% due 01/15/2027 | 8625 | 8752 |
| **Lockheed Martin Corp.** <br>3.550% due 01/15/2026 | 1790 | 1790 |
| **Marriott International, Inc.** <br>5.450% due 09/15/2026 | 8362 | 8439 |
| **Marvell Technology, Inc.** <br>1.650% due 04/15/2026 | 4013 | 3986 |
| **Mercedes-Benz Finance North America LLC**  |  |  |
| 4.522% (SOFRRATE + 0.630%) due 07/31/2026 ~  | 32600 | 32664 |
| 4.675% (SOFRRATE + 0.670%) due 01/09/2026 ~  | 500 | 500 |
| **Mitsubishi Corp.** <br>1.125% due 07/15/2026 | 350 | 345 |
| **Molson Coors Beverage Co.** <br>3.000% due 07/15/2026 | 4811 | 4785 |
| **Mondelez International Holdings Netherlands BV** <br>1.250% due 09/24/2026 | 763 | 748 |
| **MPLX LP** <br>1.750% due 03/01/2026 | 20610 | 20530 |
| **NTT Finance Corp.** <br>1.162% due 04/03/2026 | 2891 | 2870 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.** <br>3.875% due 06/18/2026 | 408 | 408 |
| **Oracle Corp.**  |  |  |
| 1.650% due 03/25/2026  | 140423 | 139549 |
| 2.650% due 07/15/2026  | 108985 | 108112 |
| **Penske Truck Leasing Co. LP/PTL Finance Corp.**  |  |  |
| 1.700% due 06/15/2026  | 8380 | 8285 |
| 4.450% due 01/29/2026  | 670 | 670 |
| 5.750% due 05/24/2026  | 2397 | 2409 |
| **PepsiCo, Inc.** <br>4.214% (SOFRINDX + 0.400%) due 02/13/2026 ~ | 2757 | 2758 |
| **Rogers Communications, Inc.** <br>2.900% due 11/15/2026 | 8782 | 8695 |
| **RTX Corp.** <br>5.000% due 02/27/2026 | 846 | 847 |
| **Spectra Energy Partners LP** <br>3.375% due 10/15/2026 | 1861 | 1853 |
| **Starbucks Corp.**  |  |  |
| 2.450% due 06/15/2026  | 1800 | 1788 |
| 4.750% due 02/15/2026  | 2432 | 2434 |
| **Sysco Corp.** <br>3.300% due 07/15/2026 | 139 | 139 |
| **T-Mobile USA, Inc.**  |  |  |
| 1.500% due 02/15/2026  | 9154 | 9124 |
| 2.250% due 02/15/2026  | 8872 | 8852 |
| 2.625% due 04/15/2026  | 21073 | 20992 |
| **Take-Two Interactive Software, Inc.** <br>5.000% due 03/28/2026 | 5100 | 5112 |
| **TSMC Global Ltd.** <br>1.250% due 04/23/2026 | 8100 | 8032 |
| **UnitedHealth Group, Inc.** <br>4.459% (SOFRRATE + 0.500%) due 07/15/2026 ~ | 10125 | 10142 |
| **Var Energi ASA** <br>5.000% due 05/18/2027 | 7000 | 7066 |
| **Volkswagen Group of America Finance LLC**  |  |  |
| 3.200% due 09/26/2026  | 400 | 397 |
| 4.555% (SOFRRATE + 0.830%) due 03/20/2026 ~  | 2000 | 2002 |
| 5.400% due 03/20/2026  | 72650 | 72846 |
| 5.700% due 09/12/2026  | 26604 | 26889 |
|  |  | 1178300 |
| **UTILITIES 1.1%**  |  |  |
| **Ameren Corp.** <br>5.700% due 12/01/2026 | 26700 | 27073 |
| **AT&T, Inc.** <br>1.700% due 03/25/2026 | 686 | 683 |
| **CenterPoint Energy, Inc.** <br>1.450% due 06/01/2026 | 450 | 445 |
| **CMS Energy Corp.** <br>3.000% due 05/15/2026 | 963 | 960 |
| **Eversource Energy** <br>4.750% due 05/15/2026 | 1830 | 1835 |
| **Georgia Power Co.** <br>4.003% (SOFRINDX + 0.280%) due 09/15/2026 ~ | 13075 | 13076 |
| **Monongahela Power Co.** <br>3.550% due 05/15/2027 | 4274 | 4251 |
| **National Rural Utilities Cooperative Finance Corp.** <br>4.358% (SOFRRATE + 0.580%) due 11/22/2026 ~ | 19850 | 19899 |
| **NextEra Energy Capital Holdings, Inc.** <br>4.633% (SOFRINDX + 0.760%) due 01/29/2026 ~ | 17900 | 17907 |
| **ONEOK, Inc.** <br>4.850% due 07/15/2026 | 14720 | 14750 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Pacific Gas & Electric Co.**  |  |  |
| 2.950% due 03/01/2026  | 18452 | 18407 |
| 3.150% due 01/01/2026  | 118326 | 118326 |
| **Pinnacle West Capital Corp.** <br>4.550% (SOFRRATE + 0.820%) due 06/10/2026 ~ | 32468 | 32527 |
| **San Diego Gas & Electric Co.** <br>6.000% due 06/01/2026 | 7986 | 8045 |
| **Southwestern Electric Power Co.** <br>1.650% due 03/15/2026 | 29194 | 29039 |
| **Virginia Electric & Power Co.** <br>3.150% due 01/15/2026 | 1120 | 1120 |
| **WEC Energy Group, Inc.** <br>4.750% due 01/09/2026 | 4350 | 4350 |
|  |  | 312693 |
| Total Corporate Bonds & Notes (Cost $4,544,174) |  | 4560100 |
| **U.S. GOVERNMENT AGENCIES 1.9%**  |  |  |
| **Federal Home Loan Banks**<br>3.890% due 10/05/2027 •  | 363600 | 363595 |
| **Federal National Mortgage Association**  |  |  |
| 2.120% due 09/01/2026 | 75654 | 74641 |
| 2.400% due 08/01/2026 | 95000 | 93980 |
| 3.343% due 11/01/2026 ~ | 4237 | 4214 |
| Total U.S. Government Agencies (Cost $536,474) |  | 536430 |
| **U.S. TREASURY OBLIGATIONS 10.4%**  |  |  |
| **U.S. Treasury Floating Rate Notes**  |  |  |
| 3.700% due 01/31/2027 •  | 216500 | 216448 |
| 3.784% due 07/31/2026 •  | 55700 | 55721 |
|  |  | 272169 |
| **U.S. Treasury Notes**  |  |  |
| 1.875% due 02/28/2027 | 46759 | 45902 |
| 3.750% due 08/15/2027 | 2405430 | 2415672 |
| 4.125% due 01/31/2027 | 175000 | 176111 |
| Total U.S. Treasury Obligations (Cost $2,903,867) |  | 2909854 |
| **ASSET-BACKED SECURITIES 0.3%**  |  |  |
| **AUTOMOBILE SEQUENTIAL 0.3%**  |  |  |
| **American Heritage Auto Receivables Issuer Trust** <br>4.453% due 09/15/2026 | 1798 | 1799 |
| **Carvana Auto Receivables Trust** <br>4.082% due 12/10/2026 | 16331 | 16338 |
| **Enterprise Fleet Financing LLC**  |  |  |
| 4.103% due 10/20/2026  | 32869 | 32902 |
| 4.555% due 05/20/2026  | 2892 | 2894 |
| **GM Financial Automobile Leasing Trust** <br>4.359% due 08/20/2026 | 1008 | 1009 |
| **Stellantis Financial Underwritten Enhanced Lease Trust** <br>4.390% due 08/20/2026 | 9063 | 9071 |
| **World Omni Auto Receivables Trust** <br>4.359% due 08/17/2026 | 7310 | 7314 |
| Total Asset-Backed Securities (Cost $71,273) |  | 71327 |
| **SOVEREIGN ISSUES 1.4%**  |  |  |
| **BNG Bank NV** <br>4.860% (SOFRINDX + 1.000%) due 08/05/2026 ~ | 27900 | 28025 |
| **CPPIB Capital, Inc.** <br>4.412% (SOFRRATE + 0.500%) due 07/27/2026 ~ | 19000 | 19040 |
| **Export Development Canada** <br>3.864% (FEDL01 + 0.224%) due 08/13/2026 ~ | 144000 | 144051 |
| **Japan Government Two Year Bonds** <br>0.100% due 01/01/2026 | 3697900 | 23607 |
| **Kommunalbanken AS** <br>4.725% (SOFRINDX + 1.000%) due 06/17/2026 ~ | $3200 | 3212 |
| **Kommunekredit** <br>4.912% (SOFRRATE + 1.000%) due 07/27/2026 ~ | 14500 | 14569 |
| **Korea Gas Corp.** <br>2.250% due 07/18/2026 | 43900 | 43507 |
| **Korea National Oil Corp.** <br>1.250% due 04/07/2026 | 4285 | 4255 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Svensk Exportkredit AB** <br>4.860% (SOFRRATE + 1.000%) due 05/05/2027 ~ |  | 125200 | 126464 |
| Total Sovereign Issues (Cost $406,778) |  |  | 406730 |
| **SHORT-TERM INSTRUMENTS 86.3%**  |  |  |  |
| **CERTIFICATES OF DEPOSIT 0.9%**  |  |  |  |
| **Barclays Bank PLC** <br>4.080% (SOFRRATE + 0.400%) due 11/13/2026 |  | 44500 | 44511 |
| **BNP Paribas SA** <br>3.970% (SOFRRATE + 0.200%) due 02/26/2026 |  | 84900 | 84909 |
| **Mizuho Bank Ltd.** <br>3.990% (SOFRRATE + 0.230%) due 04/16/2026 |  | 20500 | 20502 |
| **MUFG Bank Ltd.** <br>4.240% due 02/04/2026 |  | 10300 | 10301 |
| **National Bank of Kuwait** <br>4.150% (SOFRRATE + 0.380%) due 05/26/2026 |  | 17800 | 17800 |
| **Sumitomo Mitsui Banking Corp.** <br>3.990% (SOFRRATE + 0.230%) due 04/07/2026 |  | 25200 | 25206 |
| **Sumitomo Mitsui Trust** <br>4.100% (SOFRRATE + 0.340%) due 01/22/2026 |  | 58400 | 58400 |
|  |  |  | 261629 |
| **COMMERCIAL PAPER 1.3%**  |  |  |  |
| **Air Lease Corp.**  |  |  |  |
| 4.180% due 01/07/2026  |  | 9100 | 9093 |
| 4.180% due 01/09/2026  |  | 4900 | 4895 |
| 4.220% due 01/12/2026  |  | 18500 | 18475 |
| **AMETEK, Inc.** <br>4.020% due 01/12/2026 |  | 26200 | 26167 |
| **Bank of America NA** <br>4.020% due 10/02/2026 |  | 1050 | 1050 |
| **Crown Castle, Inc.**  |  |  |  |
| 4.150% due 01/20/2026  |  | 208710 | 208225 |
| 4.150% due 01/21/2026  |  | 21800 | 21747 |
| **Edison International**  |  |  |  |
| 4.550% due 01/05/2026  |  | 4450 | 4447 |
| 4.550% due 01/06/2026  |  | 5450 | 5446 |
| **Equifax, Inc.** <br>4.060% due 01/09/2026 |  | 12625 | 12613 |
| **HCA, Inc.**  |  |  |  |
| 4.100% due 01/21/2026  |  | 11350 | 11323 |
| 4.100% due 01/26/2026  |  | 1900 | 1894 |
| 4.120% due 02/02/2026  |  | 3800 | 3786 |
| 4.120% due 02/04/2026  |  | 8500 | 8466 |
| 4.120% due 02/12/2026  |  | 4700 | 4677 |
| **Keurig Dr. Pepper, Inc.** <br>4.000% due 01/07/2026 |  | 8400 | 8394 |
| **Southern California Edison Co.** <br>4.550% due 01/05/2026 |  | 23800 | 23787 |
| **TELUS Corp.** <br>4.350% due 03/02/2026 |  | 650 | 645 |
| **Thomson Reuters Corp.** <br>3.940% due 01/06/2026 |  | 500 | 500 |
|  |  |  | 375630 |
| **REPURCHASE AGREEMENTS (d) 78.2%** |  |  | 21894496 |
| **SHORT-TERM NOTES 0.2%**  |  |  |  |
| **ARI Fleet Lease Trust**<br>4.559% due 05/15/2026 |  | 6963 | 6969 |
| **CarMax Auto Owner Trust**<br>4.474% due 07/15/2026 |  | 5833 | 5835 |
| **Enterprise Fleet Financing LLC**<br>4.551% due 07/20/2026 |  | 2951 | 2954 |
| **Federal Home Loan Bank Discount Notes**  |  |  |  |
| 3.400% due 01/06/2026 (a)(c) |  | 20900 | 20888 |
| 3.560% due 04/17/2026 (c) |  | 400 | 396 |
| 3.585% due 04/22/2026 (c) |  | 2700 | 2671 |
| 3.590% due 03/11/2026 (c) |  | 100 | 99 |
| 3.763% due 02/25/2026 (c) |  | 500 | 497 |
| 3.790% due 01/28/2026 (c) |  | 2000 | 1995 |
| **PenFed Auto Receivables Owner Trust**<br>4.178% due 09/15/2026 |  | 1383 | 1383 |
|  |  |  | 43687 |
| **JAPAN TREASURY BILLS 5.4%**  |  |  |  |
| 0.446% due 01/07/2026 - 01/19/2026 (b)(c) | JPY | 238700600 | 1523718 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **U.S. TREASURY BILLS 0.3%**  |  |  |
| 3.695% due 01/08/2026 - 04/28/2026 (b)(c)(f) | $77704 | 77256 |
| Total Short-Term Instruments (Cost $24,187,477) |  | 24176416 |
| Total Investments in Securities (Cost $32,650,043) |  | 32660857 |
| Total Investments 116.6% (Cost $32,650,043) |  | $32660857 |
| **Financial Derivative Instruments (e) 0.0**%(Cost or Premiums, net $0) |  | 2571 |
| Other Assets and Liabilities, net (16.6)% |  | (4651815) |
| Net Assets 100.0% |  | $28011613 |

---

------

<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED 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.** |
| **¤** | **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.** |
| **~** | **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.** |
| **(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.** |
| **(b)** | **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.** |
| **(c)** | **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.** |
| **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** |
| **(d)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | &nbsp;&nbsp; Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BCY | BCY | 3.820%  | 01/02/2026 | 01/05/2026 | $1250000 | &nbsp;&nbsp; U.S. Treasury Bonds 4.625% due 05/15/2054 | $(1269133) | $1250000 | $1250000 |
|  |  | 3.900  | 12/31/2025 | 01/02/2026 | 1250000 | &nbsp;&nbsp; U.S. Treasury Bonds 4.625% due 05/15/2054 | (1268892) | 1250000 | 1250271 |
| BOS | BOS | 3.680  | 12/31/2025 | 01/02/2026 | 3800 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 03/31/2030 | (3873) | 3800 | 3801 |
|  |  | 3.720  | 12/22/2025 | 01/21/2026 | 250000 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% due 07/15/2028 | (255337) | 250000 | 250284 |
|  |  | 3.730  | 12/12/2025 | 01/15/2026 | 300000 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 01/31/2030 | (306939) | 300000 | 300653 |
|  |  | 3.750  | 12/31/2025 | 01/02/2026 | 162100 | &nbsp;&nbsp; U.S. Treasury Notes 4.500% due 11/15/2033 | (165055) | 162100 | 162134 |
|  |  | 3.750  | 12/15/2025 | 01/12/2026 | 300000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 10/31/2029 | (307174) | 300000 | 300562 |
|  |  | 3.760  | 12/17/2025 | 01/06/2026 | 1200000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 08/15/2028 | (1225747) | 1200000 | 1202005 |
|  |  | 3.760  | 12/15/2025 | 01/09/2026 | 300000 | &nbsp;&nbsp; U.S. Treasury Notes 1.000% due 07/31/2028 | (306953) | 300000 | 300564 |
|  |  | 3.760  | 12/18/2025 | 01/12/2026 | 625000 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% due 06/15/2028 | (638774) | 625000 | 625979 |
|  |  | 3.760  | 12/18/2025 | 01/13/2026 | 200000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 01/31/2029 | (204401) | 200000 | 200313 |
|  |  | 3.760  | 12/18/2025 | 01/15/2026 | 350000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 08/31/2029 | (357446) | 350000 | 350548 |
|  |  | 3.760  | 12/26/2025 | 01/20/2026 | 175000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 02/29/2028 | (178781) | 175000 | 175128 |
|  |  | 3.770  | 12/16/2025 | 01/06/2026 | 800000 | &nbsp;&nbsp; U.S. Treasury Notes 4.250% due 01/15/2028 | (818406) | 800000 | 801424 |
|  |  | 3.770  | 12/18/2025 | 01/06/2026 | 950000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 12/15/2027 | (970797) | 950000 | 951492 |
|  |  | 3.770  | 01/02/2026 | 01/07/2026 | 3000000 | &nbsp;&nbsp; U.S. Treasury Notes 0.875% - 4.125% due 11/30/2027 - 03/31/2031 | (3061000) | 3000000 | 3000000 |
|  |  | 3.780  | 12/11/2025 | 01/13/2026 | 150000 | &nbsp;&nbsp; U.S. Treasury Notes 3.875% due 03/15/2028 | (153538) | 150000 | 150347 |
|  |  | 3.790  | 12/11/2025 | 01/02/2026 | 50000 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2026 | (51146) | 50000 | 50116 |
|  |  | 3.790  | 01/02/2026 | 01/05/2026 | 208400 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% - 3.500% due 11/30/2030 - 02/15/2031 | (212566) | 208400 | 208400 |
|  |  | 3.790  | 12/31/2025 | 01/06/2026 | 775000 | &nbsp;&nbsp; U.S. Treasury Notes 2.875% - 4.125% due 05/15/2028 - 05/31/2030 | (790173) | 775000 | 775163 |
|  |  | 3.800  | 12/19/2025 | 01/16/2026 | 150000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 08/31/2029 | (152998) | 150000 | 150222 |
|  |  | 3.820  | 12/19/2025 | 01/05/2026 | 125000 | &nbsp;&nbsp; U.S. Treasury Notes 0.500% due 08/31/2027 | (127711) | 125000 | 125186 |
|  |  | 3.840  | 12/10/2025 | 01/09/2026 | 975000 | &nbsp;&nbsp; U.S. Treasury Notes 4.250% due 02/28/2029 | (1000228) | 975000 | 977392 |
|  |  | 3.850  | 12/09/2025 | 01/05/2026 | 300000 | &nbsp;&nbsp; U.S. Treasury Notes 3.750% due 05/15/2028 | (307357) | 300000 | 300770 |
|  |  | 3.850  | 12/26/2025 | 01/05/2026 | 825000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 12/15/2027 | (843061) | 825000 | 825618 |
|  |  | 3.850  | 12/29/2025 | 01/06/2026 | 775000 | &nbsp;&nbsp; U.S. Treasury Notes 4.250% due 06/30/2029 | (775148) | 775000 | 775332 |
|  |  | 3.860  | 12/10/2025 | 01/02/2026 | 1200000 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | (1231217) | 1200000 | 1202959 |
|  |  | 3.870  | 12/31/2025 | 01/02/2026 | 2478900 | &nbsp;&nbsp; U.S. Treasury Notes 1.250% - 4.000% due 02/29/2028 - 01/31/2031 | (2526931) | 2478900 | 2479433 |
|  |  | 3.900  | 12/31/2025 | 01/02/2026 | 1668200 | &nbsp;&nbsp; U.S. Treasury Notes 0.500% - 4.000% due 08/31/2027 - 10/31/2029 | (1701863) | 1668200 | 1668561 |
| BPS | BPS | 3.750  | 01/02/2026 | 01/05/2026 | 88700 | &nbsp;&nbsp; U.S. Treasury Bonds 1.750% due 08/15/2041 | (90250) | 88700 | 88700 |
|  |  | 4.170  | 12/10/2025 | 03/11/2026 | 153802 | &nbsp;&nbsp; Citigroup, Inc. 2.520% due 11/03/2032 | (36015) | 153802 | 154212 |
|  |  |  |  |  |  | &nbsp;&nbsp; Goldman Sachs Group, Inc. 2.615% due 04/22/2032 | (36687) |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; Intercontinental Exchange, Inc. 1.850% due 09/15/2032 | (33447) |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; Walmart, Inc. 3.050% due 07/08/2026 | (10115) |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; Wells Fargo & Co. 5.013% due 04/04/2051 | (46334) |  |  |
| BRC | BRC | 3.900  | 12/31/2025 | 01/02/2026 | 212300 | &nbsp;&nbsp; U.S. Treasury Inflation-Indexed Notes 0.125% due 10/15/2026 | (216574) | 212300 | 212346 |
| FICC STR | FICC STR | 3.820  | 12/31/2025 | 01/02/2026 | 48900 | &nbsp;&nbsp; U.S. Treasury Notes 3.375% - 3.875% due 12/31/2032 - 05/15/2033 | (49878) | 48900 | 48910 |
| JPS | JPS | 3.820  | 01/02/2026 | 01/05/2026 | 209400 | &nbsp;&nbsp; U.S. Treasury Inflation Protected Securities 1.625% due 10/15/2029 | (213730) | 209400 | 209400 |
|  |  | 3.900  | 12/31/2025 | 01/02/2026 | 151400 | &nbsp;&nbsp; U.S. Treasury Notes 2.000% due 11/15/2026 | (154638) | 151400 | 151433 |
|  |  | 3.930  | 12/31/2025 | 01/02/2026 | 66300 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 10/31/2026 | (67649) | 66300 | 66314 |
|  |  | 4.020  | 11/12/2025 | TBD<sup>(2)</sup> | 167294 | &nbsp;&nbsp; U.S. Treasury Bonds 2.000% - 2.250% due 08/15/2046 - 08/15/2051 | (168063) | 167294 | 168247 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | $**(22336025)** | $**21894496** | $**21914219** |
| **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** | **Cash of $19,829 has been pledged as collateral under the terms of master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. | Includes accrued interest. |

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<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| <sup>(2)</sup> | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. | Open maturity repurchase agreement. |
| **(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** | **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:** | **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> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | Currency to<br>be Delivered | 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 | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | 01/2026  | 01/2026  | 1604700 | 1604700 | 1604700 | $ | $10301 | 10301 | 10301 | 51 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | $1332 | 1332 | 1332 | JPY | 207039 | 207039 | 207039 | 0 | (10) | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 01/2026  | 01/2026  | 697 | 697 | 697 | $ | $500 | 500 | 500 | 0 | (8) | (8) |
|  |  |  | 01/2026  | 01/2026  | 2383400 | 2383400 | 2383400 |  | 15361 | 15361 | 15361 | 147 | 0 | 0 |
|  |  |  | 01/2027  | 01/2027  | 405700 | 405700 | 405700 |  | 64314 | 64314 | 64314 | 0 | (609) | (609) |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 01/2026  | 01/2026  | 68236 | 68236 | 68236 |  | 44355 | 44355 | 44355 | 0 | (1179) | (1179) |
|  |  |  | 01/2026  | 01/2026  | $2895 | 2895 | 2895 | DKK | 18415 | 18415 | 18415 | 1 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 1339 | 1339 | 1339 | JPY | 208438 | 208438 | 208438 | 0 | (8) | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 01/2026  | 01/2026  | 9854 | 9854 | 9854 | DKK | 63500 | 63500 | 63500 | 133 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | 01/2026  | 01/2026  | 290740 | 290740 | 290740 | $ | $1868 | 1868 | 1868 | 12 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | $1199 | 1199 | 1199 | JPY | 186562 | 186562 | 186562 | 0 | (7) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 01/2026  | 01/2026  | 29575 | 29575 | 29575 | AUD | 44601 | 44601 | 44601 | 187 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | &nbsp;&nbsp;&nbsp;&nbsp; DUB | &nbsp;&nbsp;&nbsp;&nbsp; DUB | 01/2026  | 01/2026  | 105630 | 105630 | 105630 | $ | $72 | 72 | 72 | 0 | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | 01/2026  | 01/2026  | 140018 | 140018 | 140018 |  | 90940 | 90940 | 90940 | 0 | (2493) | (2493) |
|  |  |  | 01/2026  | 01/2026  | $4805 | 4805 | 4805 | GBP | 3600 | 3600 | 3600 | 42 | 0 | 0 |
|  |  |  | 10/2026  | 10/2026  | 3600 | 3600 | 3600 | $ | $4801 | 4801 | 4801 | 0 | (40) | (40) |
|  |  |  | 01/2027  | 01/2027  | 617554 | 617554 | 617554 |  | 97464 | 97464 | 97464 | 0 | (1362) | (1362) |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | &nbsp;&nbsp;&nbsp;&nbsp; GLM | &nbsp;&nbsp;&nbsp;&nbsp; GLM | 01/2026  | 01/2026  | 55997400 | 55997400 | 55997400 |  | 358735 | 358735 | 358735 | 1240 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; IND | &nbsp;&nbsp;&nbsp;&nbsp; IND | &nbsp;&nbsp;&nbsp;&nbsp; IND | 01/2026  | 01/2026  | 1237100 | 1237100 | 1237100 |  | 8010 | 8010 | 8010 | 112 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | 01/2026  | 01/2026  | 27483588 | 27483588 | 27483588 |  | 177392 | 177392 | 177392 | 2012 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | $188 | 188 | 188 | JPY | 29299 | 29299 | 29299 | 0 | (1) | (1) |
|  |  |  | 01/2026  | 01/2026  | 194 | 194 | 194 | KRW | 278944 | 278944 | 278944 | 0 | (1) | (1) |
|  |  |  | 02/2026  | 02/2026  | 278578 | 278578 | 278578 | $ | $194 | 194 | 194 | 1 | 0 | 0 |
|  |  |  | 01/2027  | 01/2027  | 443160 | 443160 | 443160 |  | 69992 | 69992 | 69992 | 0 | (926) | (926) |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 01/2026  | 01/2026  | 3120 | 3120 | 3120 |  | 4165 | 4165 | 4165 | 0 | (35) | (35) |
|  |  |  | 01/2026  | 01/2026  | 23040921 | 23040921 | 23040921 |  | 148888 | 148888 | 148888 | 1858 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | $6612 | 6612 | 6612 | AUD | 10100 | 10100 | 10100 | 128 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 540 | 540 | 540 | CAD | 761 | 761 | 761 | 14 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | 1222 | 1222 | 1222 | JPY | 190194 | 190194 | 190194 | 0 | (7) | (7) |
|  |  |  | 10/2026  | 10/2026  | 730000 | 730000 | 730000 | $ | $115383 | 115383 | 115383 | 0 | (978) | (978) |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | 01/2026  | 01/2026  | $1339 | 1339 | 1339 | JPY | 208530 | 208530 | 208530 | 0 | (8) | (8) |
|  |  |  | 01/2027  | 01/2027  | 374981 | 374981 | 374981 | $ | $59086 | 59086 | 59086 | 0 | (921) | (921) |
| &nbsp;&nbsp;&nbsp;&nbsp; NGF | &nbsp;&nbsp;&nbsp;&nbsp; NGF | &nbsp;&nbsp;&nbsp;&nbsp; NGF | 01/2026  | 01/2026  | 173159 | 173159 | 173159 |  | 118 | 118 | 118 | 0 | (2) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 01/2026  | 01/2026  | 225533 | 225533 | 225533 |  | 1450 | 1450 | 1450 | 10 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | $1137 | 1137 | 1137 | JPY | 177062 | 177062 | 177062 | 0 | (7) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | 01/2026  | 01/2026  | 19843186 | 19843186 | 19843186 | $ | $127760 | 127760 | 127760 | 1028 | 0 | 0 |
|  |  |  | 01/2026  | 01/2026  | $811 | 811 | 811 | JPY | 126822 | 126822 | 126822 | 0 | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | 01/2026  | 01/2026  | 84856000 | 84856000 | 84856000 | $ | $546751 | 546751 | 546751 | 5190 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | 01/2026  | 01/2026  | 26814100 | 26814100 | 26814100 |  | 172898 | 172898 | 172898 | 1748 | 0 | 0 |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | **13914** | **(8604)** | **(8604)** |
| **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:** |
| **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** | **TOTAL RETURN SWAPS ON SECURITIES** |
|  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Pay/Receive<sup>(1)</sup> | Pay/Receive<sup>(1)</sup> | Underlying<br>Reference | # of Shares | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount |  | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; MYC | &nbsp;&nbsp; MYC | Receive | Receive | U.S. Treasury Inflation Protected Securities  | N/A | &nbsp;&nbsp; 3.800% (SOFR plus a specified spread) | Maturity | Maturity | 01/05/2026 | 175000 | $ | (22) | 0 | $(22) |
|  |  | Receive | Receive | U.S. Treasury Inflation Protected Securities  | N/A | &nbsp;&nbsp; 3.810% (SOFR plus a specified spread) | Maturity | Maturity | 01/12/2026 | 250000 |  | 1501 | 1501 | 0 |
| &nbsp;&nbsp; SOG | &nbsp;&nbsp; SOG | Receive | Receive | U.S. Treasury Inflation Protected Securities  | N/A | &nbsp;&nbsp; 3.760% (SOFR plus a specified spread) | Maturity | Maturity | 01/07/2026 | 372430 |  | (896) | 0 | (896) |
|  |  | Receive | Receive | U.S. Treasury Inflation Protected Securities  | N/A | &nbsp;&nbsp; 3.760% (SOFR plus a specified spread) | Maturity | Maturity | 01/08/2026 | 441800 |  | (1059) | 0 | (1059) |
|  |  | Receive | Receive | U.S. Treasury Inflation Protected Securities  | N/A | &nbsp;&nbsp; 3.760% (SOFR plus a specified spread) | Maturity | Maturity | 01/09/2026 | 46759 |  | (77) | 0 | (77) |
|  |  | Receive | Receive | U.S. Treasury Inflation Protected Securities  | N/A | &nbsp;&nbsp; 3.720% (SOFR plus a specified spread) | Maturity | Maturity | 01/14/2026 | 991200 |  | (1467) | 0 | (1467) |
|  |  | Receive | Receive | U.S. Treasury Inflation Protected Securities  | N/A | &nbsp;&nbsp; 3.760% (SOFR plus a specified spread) | Maturity | Maturity | 01/20/2026 | 600000 |  | (719) | 0 | (719) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **$** | **$** | **$** | **(4240)** |

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<br> Consolidated Schedule of Investments PIMCO Short-Term Floating NAV Portfolio III (Cont.) December 31, 2025 (Unaudited)

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **(f)** | **Securities with an aggregate market value of $13,736 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,736 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,736 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,736 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** | **Securities with an aggregate market value of $13,736 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of December 31, 2025.** |
| <sup>(1)</sup> | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio makes payments for any positive net return on such underlying reference. | Receive represents that the Portfolio receives payments for any positive net return on the underlying reference. The Portfolio makes payments for any negative net return on such underlying reference. Pay represents that the Portfolio receives payments for any negative net return on the underlying reference. The Portfolio 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** |
| **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 12/31/2025 |
| **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** |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | Banking & Finance | $0 | $3069107 | $0 | $3069107 |
| Industrials | Industrials | 0 | 1178300 | 0 | 1178300 |
| Utilities | Utilities | 0 | 312693 | 0 | 312693 |
| U.S. Government Agencies | U.S. Government Agencies | 0 | 536430 | 0 | 536430 |
| U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 2909854 | 0 | 2909854 |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| Automobile Sequential | Automobile Sequential | 0 | 71327 | 0 | 71327 |
| Sovereign Issues | Sovereign Issues | 0 | 406730 | 0 | 406730 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Certificates of Deposit | Certificates of Deposit | 0 | 261629 | 0 | 261629 |
| Commercial Paper | Commercial Paper | 0 | 375630 | 0 | 375630 |
| Repurchase Agreements | Repurchase Agreements | 0 | 21894496 | 0 | 21894496 |
| Short-Term Notes | Short-Term Notes | 0 | 43687 | 0 | 43687 |
| Japan Treasury Bills | Japan Treasury Bills | 0 | 1523718 | 0 | 1523718 |
| U.S. Treasury Bills | U.S. Treasury Bills | 0 | 77256 | 0 | 77256 |
| Total Investments | Total Investments | $0 | $32660857 | $0 | $32660857 |
| **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 | $0 | $15415 | $0 | $15415 |
| **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 | $0 | $(12844) | $0 | $(12844) |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | $2571 | $0 | $2571 |
| Totals | Totals | $0 | $32663428 | $0 | $32663428 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Schedule of Investments PIMCO Short-Term Portfolio December 31, 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)** |
|  | PRINCIPAL<br>AMOUNT<br>(000s) | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 141.2% ¤** |  |  |
| **CORPORATE BONDS & NOTES 0.0%**  |  |  |
| **BANKING & FINANCE 0.0%**  |  |  |
| **Lehman Brothers Holdings, Inc.** <br>1.000% due 09/27/2027 ^(a) | $2000 | $1 |
| Total Corporate Bonds & Notes (Cost $1,030) |  | 1 |
| **U.S. GOVERNMENT AGENCIES 65.3%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 3.000% due 02/01/2048 - 05/01/2052 | 2514 | 2260 |
| 4.000% due 08/01/2042 - 12/01/2042 | 184 | 181 |
| 4.215% due 01/01/2030 •  | 9 | 9 |
| 5.590% due 09/01/2030 •  | 23 | 23 |
| 5.655% due 09/01/2037 •  | 176 | 177 |
| 5.799% due 04/01/2030 •  | 6 | 6 |
| 5.975% due 08/01/2033 •  | 1 | 1 |
| 6.000% due 05/01/2035 | 7 | 7 |
| 6.035% due 11/01/2036 •  | 1 | 1 |
| 6.118% due 11/01/2033 •  | 7 | 7 |
| 6.125% due 11/01/2033 •  | 23 | 24 |
| 6.156% due 12/01/2035 •  | 6 | 6 |
| 6.200% due 07/01/2033 •  | 3 | 4 |
| 6.250% due 07/01/2033 - 09/01/2035 •  | 7 | 7 |
| 6.252% due 01/01/2030 •  | 20 | 20 |
| 6.286% due 03/01/2035 •  | 5 | 5 |
| 6.305% due 09/01/2034 •  | 27 | 28 |
| 6.306% due 01/01/2036 •  | 5 | 5 |
| 6.386% due 04/01/2036 •  | 74 | 76 |
| 6.415% due 08/01/2035 •  | 72 | 74 |
| 6.416% due 12/01/2034 •  | 1 | 1 |
| 6.430% due 08/01/2035 •  | 1 | 1 |
| 6.457% due 12/01/2032 •  | 2 | 2 |
| 6.460% due 02/01/2035 •  | 26 | 26 |
| 6.475% due 04/01/2034 •  | 21 | 22 |
| 6.481% due 08/01/2035 •  | 7 | 7 |
| 6.493% due 09/01/2035 •  | 31 | 33 |
| 6.495% due 02/01/2036 •  | 1 | 1 |
| 6.499% due 03/01/2032 •  | 10 | 11 |
| 6.500% due 04/01/2032 - 03/01/2036 •  | 35 | 37 |
| 6.521% due 09/01/2035 •  | 1 | 1 |
| 6.534% due 06/01/2035 •  | 2 | 2 |
| 6.543% due 07/01/2035 •  | 5 | 5 |
| 6.564% due 01/01/2034 •  | 46 | 47 |
| 6.580% due 12/01/2036 •  | 11 | 11 |
| 6.587% due 02/01/2037 •  | 2 | 2 |
| 6.596% due 01/01/2036 •  | 1 | 1 |
| 6.620% due 05/01/2035 •  | 33 | 33 |
| 6.665% due 11/01/2034 •  | 97 | 99 |
| 6.687% due 03/01/2036 •  | 53 | 55 |
| 6.702% due 01/01/2035 •  | 1 | 1 |
| 6.709% due 07/01/2037 •  | 40 | 42 |
| 6.744% due 01/01/2037 •  | 1 | 1 |
| 6.745% due 02/01/2036 •  | 2 | 2 |
| 6.797% due 07/01/2035 •  | 1 | 1 |
| 6.837% due 03/01/2035 •  | 9 | 9 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 4.398% due 03/15/2036 •  | 1 | 1 |
| 4.448% due 02/15/2029 - 03/15/2029 •  | 9 | 9 |
| 4.498% due 07/15/2026 - 01/15/2033 •  | 19 | 19 |
| 4.500% due 04/15/2032 | 67 | 68 |
| 4.548% due 09/15/2026 - 08/15/2029 •  | 2 | 2 |
| 4.598% due 10/15/2026 - 01/15/2032 •  | 1 | 1 |
| 4.648% due 08/15/2029 - 03/15/2032 •  | 12 | 11 |
| 4.698% due 06/15/2029 - 12/15/2031 •  | 12 | 12 |
| 5.500% due 10/15/2032 | 2 | 2 |
| 7.000% due 07/15/2027 | 1 | 1 |
| **Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates**  |  |  |
| 4.106% due 08/25/2031 •  | 90 | 89 |
| 4.269% due 09/25/2031 •  | 39 | 39 |
| 4.339% due 06/25/2029 •  | 36 | 35 |
| 4.389% due 05/25/2043 •  | 560 | 534 |
| 5.229% due 10/25/2044 - 02/25/2045 •  | 245 | 230 |

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<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | |
|:---|:---|:---|
| 5.429% due 07/25/2044 •  | 811 | 790 |
| **Federal National Mortgage Association**  |  |  |
| 3.000% due 08/01/2028 - 05/01/2052 | 372 | 334 |
| 3.500% due 11/01/2044 - 02/01/2050 | 1966 | 1849 |
| 4.000% due 07/01/2042 - 02/01/2043 | 149 | 146 |
| 4.060% due 03/01/2030 | 406 | 407 |
| 4.215% due 08/01/2032 •  | 2 | 2 |
| 4.407% due 05/01/2036 •  | 10 | 10 |
| 4.434% due 05/01/2036 •  | 9 | 9 |
| 4.610% due 05/01/2036 •  | 4 | 4 |
| 4.766% due 08/01/2026 | 363 | 364 |
| 5.202% due 06/01/2032 •  | 2 | 2 |
| 5.227% due 11/01/2027 - 01/01/2038 •  | 1 | 0 |
| 5.252% due 11/01/2040 •  | 1 | 1 |
| 5.277% due 07/01/2042 - 07/01/2044 •  | 91 | 92 |
| 5.327% due 09/01/2041 •  | 6 | 6 |
| 5.563% due 05/01/2034 •  | 2 | 3 |
| 5.624% due 10/01/2034 •  | 27 | 27 |
| 5.625% due 11/01/2036 •  | 109 | 110 |
| 5.750% due 02/01/2034 •  | 26 | 27 |
| 5.756% due 12/01/2034 •  | 3 | 3 |
| 5.765% due 11/01/2035 •  | 10 | 10 |
| 5.767% due 05/01/2035 •  | 25 | 26 |
| 5.802% due 11/01/2035 •  | 10 | 10 |
| 5.873% due 06/01/2035 •  | 12 | 12 |
| 5.889% due 11/01/2035 •  | 2 | 2 |
| 5.900% due 05/01/2030 •  | 8 | 8 |
| 5.915% due 12/01/2032 •  | 2 | 2 |
| 5.931% due 01/01/2033 •  | 1 | 1 |
| 5.945% due 04/01/2028 •  | 4 | 4 |
| 5.975% due 11/01/2034 •  | 20 | 21 |
| 5.985% due 01/01/2035 •  | 10 | 11 |
| 5.994% due 09/01/2033 •  | 12 | 12 |
| 6.000% due 11/01/2026 •  | 5 | 5 |
| 6.030% due 10/01/2033 •  | 1 | 1 |
| 6.038% due 04/01/2033 - 09/01/2033 •  | 9 | 9 |
| 6.040% due 10/01/2032 •  | 5 | 5 |
| 6.041% due 04/01/2037 •  | 1 | 1 |
| 6.044% due 09/01/2034 •  | 17 | 17 |
| 6.075% due 11/01/2047 •  | 101 | 105 |
| 6.079% due 03/01/2030 •  | 11 | 11 |
| 6.090% due 03/01/2033 •  | 19 | 20 |
| 6.094% due 01/01/2035 •  | 1 | 1 |
| 6.095% due 07/01/2035 •  | 2 | 2 |
| 6.105% due 05/01/2032 •  | 2 | 2 |
| 6.112% due 11/01/2032 •  | 1 | 1 |
| 6.115% due 11/01/2033 •  | 26 | 26 |
| 6.120% due 07/01/2034 - 01/01/2035 •  | 25 | 26 |
| 6.122% due 12/01/2036 •  | 24 | 25 |
| 6.125% due 09/01/2033 - 10/01/2034 •  | 27 | 27 |
| 6.129% due 12/01/2035 •  | 2 | 2 |
| 6.133% due 12/01/2030 •  | 1 | 1 |
| 6.143% due 03/01/2034 •  | 159 | 162 |
| 6.145% due 07/01/2033 •  | 23 | 24 |
| 6.166% due 11/01/2031 •  | 3 | 3 |
| 6.177% due 04/01/2040 •  | 46 | 47 |
| 6.180% due 01/01/2035 •  | 4 | 4 |
| 6.183% due 09/01/2033 •  | 11 | 11 |
| 6.195% due 04/01/2034 - 07/01/2037 •  | 28 | 30 |
| 6.208% due 05/01/2033 •  | 1 | 1 |
| 6.210% due 11/01/2034 •  | 5 | 5 |
| 6.223% due 07/01/2035 •  | 7 | 7 |
| 6.225% due 02/01/2037 •  | 3 | 3 |
| 6.227% due 07/01/2035 •  | 3 | 3 |
| 6.243% due 12/01/2036 •  | 1 | 1 |
| 6.249% due 02/01/2035 •  | 8 | 8 |
| 6.250% due 01/01/2033 - 02/01/2035 •  | 7 | 7 |
| 6.252% due 06/01/2035 •  | 5 | 6 |
| 6.258% due 07/01/2034 •  | 30 | 31 |
| 6.260% due 01/01/2034 •  | 1 | 1 |
| 6.263% due 12/01/2034 •  | 19 | 19 |
| 6.277% due 11/01/2033 •  | 12 | 12 |
| 6.292% due 04/01/2034 •  | 4 | 4 |
| 6.302% due 02/01/2035 •  | 2 | 2 |
| 6.345% due 06/01/2034 •  | 41 | 42 |
| 6.346% due 11/01/2034 •  | 2 | 2 |
| 6.354% due 02/01/2035 •  | 3 | 3 |
| 6.370% due 02/01/2035 •  | 59 | 60 |
| 6.375% due 05/01/2032 - 05/01/2033 •  | 37 | 38 |
| 6.382% due 03/01/2033 •  | 7 | 8 |
| 6.386% due 07/01/2033 •  | 1 | 1 |
| 6.390% due 09/01/2037 •  | 116 | 118 |
| 6.392% due 11/01/2033 •  | 21 | 22 |
| 6.395% due 07/01/2029 •  | 1 | 1 |
| 6.399% due 10/01/2035 •  | 50 | 51 |
| 6.425% due 03/01/2035 - 01/01/2036 •  | 29 | 30 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.440% due 04/01/2033 •  | 4 | 4 |
| 6.445% due 11/01/2033 •  | 73 | 75 |
| 6.449% due 01/01/2033 •  | 1 | 1 |
| 6.460% due 04/01/2035 •  | 4 | 4 |
| 6.468% due 11/01/2033 •  | 11 | 11 |
| 6.472% due 08/01/2035 •  | 8 | 8 |
| 6.500% due 06/01/2034 •  | 1 | 1 |
| 6.505% due 10/01/2033 - 02/01/2034 •  | 24 | 25 |
| 6.515% due 07/01/2035 •  | 1 | 1 |
| 6.518% due 09/01/2035 •  | 48 | 50 |
| 6.527% due 02/01/2034 •  | 7 | 8 |
| 6.529% due 03/01/2035 •  | 27 | 27 |
| 6.530% due 03/01/2034 •  | 8 | 8 |
| 6.547% due 05/01/2037 •  | 139 | 143 |
| 6.551% due 01/01/2037 •  | 1 | 1 |
| 6.557% due 11/01/2034 •  | 2 | 2 |
| 6.585% due 09/01/2035 •  | 9 | 9 |
| 6.601% due 02/01/2034 •  | 21 | 21 |
| 6.605% due 12/01/2035 •  | 131 | 135 |
| 6.621% due 05/01/2036 •  | 11 | 11 |
| 6.631% due 06/01/2037 •  | 5 | 6 |
| 6.664% due 10/01/2035 •  | 5 | 5 |
| 6.675% due 04/01/2035 •  | 1 | 2 |
| 6.705% due 06/01/2036 •  | 5 | 6 |
| 6.730% due 04/01/2033 •  | 57 | 59 |
| 6.750% due 03/01/2034 - 02/01/2036 •  | 49 | 51 |
| 6.762% due 01/01/2036 •  | 1 | 1 |
| 6.815% due 08/01/2037 •  | 254 | 264 |
| 7.000% due 10/01/2033 - 03/01/2045 | 554 | 582 |
| 7.221% due 09/01/2035 •  | 38 | 40 |
| **Federal National Mortgage Association Grantor Trust**  |  |  |
| 6.000% due 02/25/2044 | 3 | 3 |
| 6.500% due 01/25/2044 | 107 | 111 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 4.246% due 12/25/2036 •  | 26 | 25 |
| 4.289% due 01/25/2034 •  | 4 | 4 |
| 4.306% due 03/25/2034 •  | 5 | 5 |
| 4.389% due 06/25/2029 - 12/25/2033 •  | 11 | 10 |
| 4.429% due 05/25/2036 •  | 4 | 4 |
| 4.439% due 10/25/2030 •  | 8 | 8 |
| 4.451% due 05/18/2032 •  | 3 | 3 |
| 4.489% due 08/25/2031 - 01/25/2033 •  | 7 | 7 |
| 4.501% due 10/18/2030 •  | 9 | 9 |
| 4.508% due 09/17/2027 •  | 2 | 2 |
| 4.539% due 12/25/2030 •  | 5 | 5 |
| 4.551% due 11/18/2030 •  | 4 | 4 |
| 4.639% due 11/25/2031 •  | 9 | 9 |
| 4.689% due 04/25/2032 •  | 5 | 5 |
| 4.989% due 04/25/2032 •  | 5 | 5 |
| **Federal National Mortgage Association REMICS Trust**  |  |  |
| 4.698% due 12/25/2042 ~ | 46 | 46 |
| 6.250% due 05/25/2042 | 10 | 10 |
| 7.500% due 05/25/2042 | 9 | 10 |
| **Federal National Mortgage Association Trust**  |  |  |
| 4.339% due 05/25/2042 •  | 7 | 7 |
| 4.536% due 09/25/2042 •  | 72 | 71 |
| 4.835% due 08/25/2042 ~ | 6 | 6 |
| 6.000% due 08/25/2044 | 8 | 9 |
| 7.000% due 02/25/2044 | 2 | 2 |
| **Government National Mortgage Association**  |  |  |
| 3.500% due 05/20/2052 - 04/20/2055 | 4957 | 4551 |
| 4.625% due 12/20/2045 •  | 61 | 62 |
| 4.750% due 10/20/2029 •  | 76 | 76 |
| 5.375% due 09/20/2029 - 09/20/2045 •  | 208 | 212 |
| 5.625% due 01/20/2027 - 04/20/2033 •  | 23 | 24 |
| 6.500% due 01/20/2055 - 02/20/2055 | 199 | 205 |
| **Government National Mortgage Association REMICS**<br>4.714% due 05/20/2069 •  | 574 | 575 |
| **Government National Mortgage Association, TBA**  |  |  |
| 2.500% due 02/01/2056 | 600 | 518 |
| 3.000% due 01/01/2056 | 2900 | 2606 |
| 4.000% due 02/01/2056 | 200 | 189 |
| 4.500% due 02/01/2056 | 13500 | 13142 |
| 5.000% due 01/01/2056 | 500 | 499 |
| 5.500% due 02/01/2056 | 300 | 303 |
| 6.000% due 01/01/2056 | 1700 | 1733 |
| 6.500% due 02/01/2056 | 900 | 929 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 2.500% due 01/01/2041 - 01/01/2056 | 800 | 687 |
| 3.000% due 01/01/2041 - 02/01/2056 | 20100 | 18792 |
| 5.000% due 02/01/2056 | 7000 | 6975 |
| 5.500% due 02/01/2056 | 12200 | 12360 |
| 6.000% due 02/01/2056 | 26200 | 26889 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.500% due 02/01/2056 - 03/01/2056 | 15400 | 16022 |
| Total U.S. Government Agencies (Cost $118,995) |  | 119076 |
| **U.S. TREASURY OBLIGATIONS 4.7%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 3.125% due 02/15/2043 | 4730 | 3827 |
| 4.000% due 11/15/2042 | 3100 | 2842 |
| 4.000% due 11/15/2052 | 2300 | 1996 |
| Total U.S. Treasury Obligations (Cost $10,967) |  | 8665 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 29.7%**  |  |  |
| **Adjustable Rate Mortgage Trust**  |  |  |
| 4.581% due 03/25/2035 ~  | 9 | 9 |
| 4.768% due 11/25/2035 ~  | 66 | 46 |
| **AG Trust** <br>5.766% due 08/15/2041 •  | 428 | 431 |
| **Arbor Multifamily Mortgage Securities Trust** <br>2.756% due 05/15/2053 | 1200 | 1129 |
| **ATLX Trust** <br>3.850% due 04/25/2063 þ | 903 | 884 |
| **Banc of America Funding Trust** <br>5.301% due 05/25/2035 ~ | 2948 | 2774 |
| **Banc of America Mortgage Trust**  |  |  |
| 5.142% due 11/25/2033 ~  | 15 | 13 |
| 5.773% due 09/25/2033 ~  | 43 | 40 |
| 6.403% due 01/25/2034 ~  | 8 | 8 |
| 6.614% due 10/25/2035 ~  | 6 | 6 |
| 6.870% due 06/25/2034 ~  | 10 | 10 |
| 6.871% due 02/25/2034 ~  | 17 | 17 |
| **BCAP LLC Trust** <br>6.500% due 02/26/2036 ~ | 378 | 157 |
| **Bear Stearns ALT-A Trust**  |  |  |
| 4.166% due 02/25/2034 •  | 97 | 92 |
| 4.186% due 08/25/2036 •  | 3 | 3 |
| 4.474% due 11/25/2036 ~  | 216 | 108 |
| **Bear Stearns ARM Trust**  |  |  |
| 4.040% due 07/25/2034 ~  | 9 | 9 |
| 4.750% due 02/25/2034 ~  | 103 | 97 |
| 4.885% due 01/25/2035 ~  | 15 | 15 |
| 5.125% due 01/25/2035 ~  | 14 | 12 |
| 5.179% due 02/25/2034 ~  | 21 | 19 |
| 5.734% due 01/25/2034 ~  | 35 | 34 |
| 6.214% due 01/25/2034 ~  | 116 | 115 |
| 6.373% due 04/25/2033 ~  | 11 | 11 |
| 6.829% due 10/25/2033 ~  | 2 | 2 |
| **Benchmark Mortgage Trust** <br>4.377% due 05/15/2053 | 869 | 868 |
| **CD Mortgage Trust** <br>3.431% due 08/15/2050 | 400 | 395 |
| **Chase Home Lending Mortgage Trust**  |  |  |
| 3.250% due 09/25/2064 ~  | 892 | 798 |
| 5.124% due 09/25/2055 •  | 443 | 442 |
| **Chase Mortgage Finance Trust**  |  |  |
| 4.348% due 12/25/2035 ~  | 20 | 17 |
| 4.669% due 12/25/2035 ~  | 16 | 15 |
| 6.731% due 02/25/2037 ~  | 60 | 60 |
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 4.196% due 08/25/2035 •  | 60 | 10 |
| 4.796% due 11/25/2034 ~  | 508 | 488 |
| 5.419% due 06/20/2035 ~  | 29 | 27 |
| 5.500% due 11/25/2035  | 67 | 30 |
| 5.995% due 12/25/2033 ~  | 19 | 19 |
| 6.148% due 02/20/2036 •  | 15 | 14 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.646% due 08/25/2035 •  | 25 | 24 |
| 5.750% due 09/25/2035 •  | 19 | 19 |
| 6.040% due 11/25/2035 •  | 21 | 21 |
| 6.490% due 05/25/2035 •  | 4 | 4 |
| 6.998% due 03/25/2034 ~  | 12 | 12 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 3.463% due 08/25/2035 ~  | 685 | 651 |
| 4.246% due 06/25/2037 •  | 591 | 554 |
| 4.620% due 10/25/2035 ~  | 7 | 6 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>5.917% due 11/25/2032 ~ | 3 | 3 |
| **CSAIL Commercial Mortgage Trust** <br>3.329% due 06/15/2052 | 200 | 194 |
| **CSFB Mortgage-Backed Pass-Through Certificates**  |  |  |
| 5.208% due 01/25/2034 ~  | 77 | 75 |
| 5.855% due 07/25/2033 ~  | 182 | 177 |
| 6.409% due 10/25/2033 ~  | 7 | 7 |
| **CSMC Trust** <br>3.904% due 04/25/2062 ~ | 852 | 821 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **First Horizon Alternative Mortgage Securities Trust**  |  |  |
| 5.064% due 08/25/2034 ~  | 28 | 28 |
| 5.210% due 07/25/2035 ~  | 58 | 29 |
| **First Horizon Mortgage Pass-Through Trust**  |  |  |
| 4.116% due 02/25/2035 •  | 21 | 19 |
| 4.333% due 02/25/2035 •  | 45 | 44 |
| **GMACM Mortgage Loan Trust** <br>3.724% due 11/19/2035 ~ | 20 | 18 |
| **GS Mortgage Securities Corp. Trust** <br>3.104% due 05/10/2034 | 2100 | 1371 |
| **GS Mortgage-Backed Securities Corp. Trust** <br>1.750% due 12/25/2060 ~ | 1860 | 1750 |
| **GS Mortgage-Backed Securities Trust** <br>3.900% due 09/25/2061 þ | 2166 | 2138 |
| **GSR Mortgage Loan Trust**  |  |  |
| 3.830% due 08/25/2034 ~  | 10 | 10 |
| 4.196% due 01/25/2034 •  | 16 | 16 |
| 4.242% due 05/25/2035 ~  | 32 | 23 |
| 4.410% due 06/25/2034 ~  | 3 | 3 |
| 4.879% due 06/25/2034 ~  | 9 | 9 |
| 4.951% due 09/25/2035 ~  | 1185 | 1136 |
| 5.880% due 03/25/2033 •  | 1 | 1 |
| 6.000% due 03/25/2032  | 2 | 2 |
| 6.295% due 09/25/2034 ~  | 787 | 795 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 4.226% due 02/19/2046 •  | 280 | 264 |
| 4.286% due 05/19/2035 •  | 16 | 16 |
| **Impac CMB Trust** <br>4.486% due 08/25/2035 •  | 346 | 330 |
| **IndyMac ARM Trust** <br>5.653% due 01/25/2032 ~ | 1 | 1 |
| **IndyMac INDX Mortgage Loan Trust**  |  |  |
| 4.226% due 09/25/2046 •  | 194 | 180 |
| 4.626% due 05/25/2034 •  | 13 | 12 |
| **JP Morgan Alternative Loan Trust** <br>5.500% due 11/25/2036 ~ | 19 | 8 |
| **JP Morgan Chase Commercial Mortgage Securities Trust** <br>5.214% due 12/15/2036 •  | 500 | 247 |
| **JP Morgan Mortgage Trust**  |  |  |
| 5.190% due 11/25/2035 ~  | 55 | 44 |
| 5.191% due 07/25/2035 ~  | 89 | 85 |
| 5.391% due 10/25/2035 ~  | 111 | 105 |
| 5.869% due 11/25/2033 ~  | 2 | 2 |
| 5.874% due 09/25/2034 ~  | 1 | 1 |
| 6.033% due 07/25/2035 ~  | 58 | 57 |
| 6.305% due 11/25/2033 ~  | 2 | 2 |
| **Legacy Mortgage Asset Trust** <br>5.750% due 07/25/2061 þ | 2215 | 2217 |
| **MASTR Adjustable Rate Mortgages Trust**  |  |  |
| 3.755% due 02/25/2034 ~  | 133 | 119 |
| 4.357% due 01/25/2034 ~  | 3 | 3 |
| 4.725% due 08/25/2034 ~  | 160 | 158 |
| 5.088% due 12/25/2033 ~  | 10 | 10 |
| 5.633% due 11/21/2034 ~  | 16 | 16 |
| 5.647% due 01/25/2036 ~  | 10 | 10 |
| 6.446% due 07/25/2034 ~  | 61 | 60 |
| 6.500% due 09/25/2033 ~  | 77 | 77 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 3.185% due 02/25/2034 ~  | 18 | 15 |
| 4.466% due 08/25/2028 •  | 80 | 74 |
| 4.506% due 06/25/2028 •  | 16 | 15 |
| 5.011% due 04/25/2035 ~  | 100 | 92 |
| 5.290% due 03/25/2028 •  | 13 | 12 |
| 5.451% due 02/25/2035 ~  | 31 | 29 |
| 6.049% due 09/25/2033 ~  | 4 | 4 |
| **MFA Trust**  |  |  |
| 1.014% due 01/26/2065 ~  | 281 | 269 |
| 1.324% due 01/26/2065 ~  | 101 | 97 |
| 1.632% due 01/26/2065 ~  | 101 | 97 |
| 2.479% due 03/25/2065 ~  | 87 | 85 |
| 4.250% due 02/25/2066 ~  | 847 | 815 |
| **Mill City Mortgage Loan Trust** <br>2.750% due 08/25/2059 ~ | 305 | 298 |
| **Morgan Stanley Capital I Trust** <br>2.428% due 04/05/2042 ~ | 1800 | 1598 |
| **Morgan Stanley Mortgage Loan Trust** <br>4.166% due 01/25/2035 •  | 340 | 326 |
| **New Residential Mortgage Loan Trust**  |  |  |
| 2.750% due 07/25/2059 ~  | 1518 | 1474 |
| 2.750% due 11/25/2059 ~  | 1992 | 1926 |
| 3.500% due 10/25/2059 ~  | 59 | 56 |
| **NLT Trust** <br>3.200% due 10/25/2062 ~ | 787 | 726 |
| **Nomura Asset Acceptance Corp. Alternative Loan Trust** <br>4.343% due 10/25/2035 ~ | 10 | 9 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **OBX Trust** <br>1.072% due 02/25/2066 ~ | 2195 | 1937 |
| **PRET Trust** <br>4.000% due 03/25/2065 þ | 881 | 865 |
| **Prime Mortgage Trust**  |  |  |
| 4.246% due 02/25/2034 •  | 7 | 6 |
| 6.000% due 02/25/2034  | 2 | 2 |
| **PRPM LLC**  |  |  |
| 4.000% due 06/25/2053 þ  | 1294 | 1285 |
| 4.000% due 07/25/2054 þ  | 677 | 671 |
| 4.000% due 08/25/2054 þ  | 651 | 644 |
| **RCKT Mortgage Trust** <br>5.846% due 08/25/2044 þ | 132 | 134 |
| **Residential Asset Mortgage Products Trust** <br>8.500% due 12/25/2031 | 293 | 132 |
| **RFMSI Trust**  |  |  |
| 5.941% due 02/25/2036 ~  | 52 | 48 |
| 6.500% due 03/25/2032  | 3 | 3 |
| **Sequoia Mortgage Trust**  |  |  |
| 4.608% due 04/20/2033 •  | 6 | 5 |
| 4.761% due 07/20/2034 ~  | 9 | 8 |
| 4.978% due 03/20/2035 •  | 31 | 29 |
| **Sequoia Mortgage Trust 10** <br>4.648% due 10/20/2027 •  | 7 | 6 |
| **Starwood Mortgage Residential Trust**  |  |  |
| 1.027% due 11/25/2055 ~  | 90 | 87 |
| 1.439% due 11/25/2055 ~  | 45 | 44 |
| 1.486% due 04/25/2065 ~  | 68 | 67 |
| 1.593% due 11/25/2055 ~  | 45 | 44 |
| **Structured Adjustable Rate Mortgage Loan Trust**  |  |  |
| 4.086% due 03/25/2035 •  | 34 | 29 |
| 4.146% due 09/25/2034 •  | 61 | 58 |
| 5.046% due 09/25/2034 ~  | 5 | 5 |
| **Structured Asset Mortgage Investments II Trust**  |  |  |
| 4.526% due 05/19/2035 •  | 53 | 51 |
| 4.546% due 02/19/2035 •  | 939 | 902 |
| **Structured Asset Mortgage Investments Trust** <br>4.526% due 11/19/2033 •  | 8 | 8 |
| **Structured Asset Securities Corp. Mortgage Pass-Through Certificates**  |  |  |
| 3.299% due 09/25/2033 ~  | 13 | 12 |
| 5.546% due 11/25/2033 ~  | 6 | 6 |
| 6.253% due 06/25/2033 ~  | 108 | 106 |
| 6.561% due 03/25/2033 ~  | 59 | 58 |
| **Towd Point Mortgage Trust**  |  |  |
| 2.750% due 06/25/2057 ~  | 161 | 158 |
| 3.750% due 03/25/2058 ~  | 810 | 792 |
| 4.606% due 10/25/2064 ~  | 1389 | 1395 |
| 4.846% due 05/25/2058 •  | 2460 | 2507 |
| 4.846% due 10/25/2059 •  | 81 | 81 |
| **Verus Securitization Trust** <br>5.799% due 07/25/2069 þ | 682 | 688 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 4.386% due 12/25/2045 •  | 898 | 836 |
| 4.426% due 10/25/2045 •  | 750 | 731 |
| 4.426% due 12/25/2045 •  | 575 | 574 |
| 4.509% due 10/25/2035 ~  | 279 | 259 |
| 4.642% due 09/25/2035 ~  | 124 | 118 |
| 4.646% due 01/25/2045 •  | 352 | 345 |
| 5.029% due 08/25/2046 •  | 18 | 17 |
| 5.077% due 08/25/2046 •  | 958 | 843 |
| 5.229% due 11/25/2042 •  | 36 | 35 |
| 5.243% due 08/25/2033 ~  | 142 | 136 |
| 5.429% due 08/25/2042 •  | 3 | 3 |
| 5.529% due 09/25/2046 •  | 2242 | 2132 |
| 5.690% due 10/25/2033 ~  | 47 | 46 |
| **Washington Mutual MSC Mortgage Pass-Through Certificates Trust**  |  |  |
| 4.591% due 06/25/2033 ~  | 5 | 5 |
| 6.283% due 11/25/2030 ~  | 4 | 4 |
| 6.350% due 02/25/2033 ~  | 1 | 1 |
| 7.000% due 03/25/2034  | 11 | 11 |
| **Wells Fargo Commercial Mortgage Trust**  |  |  |
| 2.725% due 02/15/2053  | 600 | 563 |
| 4.023% due 03/15/2052  | 300 | 299 |
| 5.343% due 10/15/2042 •  | 900 | 903 |
| 5.393% due 07/15/2037 •  | 900 | 903 |
| **Wells Fargo Mortgage-Backed Securities Trust** <br>6.458% due 08/25/2035 ~ | 2 | 2 |
| **Worldwide Plaza Trust** <br>3.526% due 11/10/2036 | 1000 | 804 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **WSTN Trust** <br>6.297% due 07/05/2037 ~ | 500 | 509 |
| Total Non-Agency Mortgage-Backed Securities (Cost $56,338) |  | 54177 |
| **ASSET-BACKED SECURITIES 41.2%**  |  |  |
| **AUTOMOBILE ABS OTHER 0.0%**  |  |  |
| **CarMax Select Receivables Trust** <br>4.714% due 09/15/2027 •  | 17 | 17 |
| **AUTOMOBILE SEQUENTIAL 12.2%**  |  |  |
| **Bridgecrest Lending Auto Securitization Trust**  |  |  |
| 4.720% due 09/15/2028  | 800 | 802 |
| 4.840% due 09/15/2027  | 52 | 52 |
| 4.840% due 01/18/2028  | 491 | 491 |
| **CarMax Auto Owner Trust** <br>4.420% due 08/15/2028 | 880 | 882 |
| **CarMax Select Receivables Trust**  |  |  |
| 4.120% due 03/15/2030  | 500 | 502 |
| 4.166% due 10/15/2026  | 219 | 219 |
| 5.400% due 11/15/2028  | 100 | 101 |
| 5.780% due 09/15/2027  | 17 | 17 |
| **Carvana Auto Receivables Trust** <br>4.070% due 02/12/2029 | 900 | 900 |
| **CPS Auto Receivables Trust** <br>5.880% due 02/15/2028 | 8 | 8 |
| **Drive Auto Receivables Trust**  |  |  |
| 4.140% due 09/15/2032  | 100 | 100 |
| 4.290% due 10/16/2028  | 200 | 200 |
| 4.870% due 08/15/2028  | 823 | 824 |
| **Enterprise Fleet Financing LLC** <br>4.500% due 04/20/2028 | 900 | 905 |
| **Exeter Automobile Receivables Trust** <br>4.530% due 03/15/2028 | 868 | 869 |
| **FHF Issuer Trust** <br>4.940% due 11/15/2030 | 517 | 516 |
| **Flagship Credit Auto Trust** <br>4.880% due 11/15/2028 | 206 | 206 |
| **GLS Auto Select Receivables Trust** <br>5.590% due 10/15/2029 | 277 | 280 |
| **Honda Auto Receivables Owner Trust**  |  |  |
| 4.330% due 05/15/2029  | 800 | 805 |
| 4.560% due 03/15/2027  | 240 | 240 |
| **LAD Auto Receivables Trust**  |  |  |
| 4.300% due 07/17/2028  | 800 | 801 |
| 4.600% due 12/15/2027  | 318 | 318 |
| **M&T Bank Auto Receivables Trust** <br>4.630% due 05/15/2028 | 530 | 531 |
| **Mercedes-Benz Auto Lease Trust** <br>4.570% due 04/17/2028 | 1600 | 1609 |
| **Nissan Auto Receivables Owner Trust**  |  |  |
| 4.340% due 03/15/2029  | 800 | 805 |
| 4.500% due 02/15/2028  | 1500 | 1505 |
| 4.510% due 06/15/2027  | 291 | 291 |
| **Octane Receivables Trust** <br>4.940% due 05/20/2030 | 536 | 539 |
| **Porsche Innovative Lease Owner Trust** <br>4.600% due 12/20/2027 | 567 | 569 |
| **Santander Drive Auto Receivables Trust** <br>4.620% due 11/15/2028 | 775 | 776 |
| **SCCU Auto Receivables Trust**  |  |  |
| 4.570% due 01/15/2031  | 900 | 909 |
| 5.110% due 06/15/2029  | 1000 | 1007 |
| **SFS Auto Receivables Securitization Trust**  |  |  |
| 4.520% due 11/20/2028  | 676 | 678 |
| 4.550% due 06/20/2030  | 800 | 806 |
| **Stellantis Financial Underwritten Enhanced Lease Trust** <br>4.310% due 05/22/2028 | 1100 | 1104 |
| **Tesla Auto Lease Trust** <br>4.790% due 01/20/2027 | 119 | 119 |
| **Westlake Automobile Receivables Trust** <br>4.660% due 09/15/2028 | 900 | 903 |
| **World Omni Select Auto Trust** <br>4.140% due 05/15/2030 | 100 | 100 |
|  |  | 22289 |
| **CMBS OTHER 1.5%**  |  |  |
| **BDS LLC** <br>5.013% due 10/17/2042 •  | 850 | 849 |
| **LRECS LLC** <br>5.500% due 08/19/2043 •  | 900 | 902 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Starwood LLC** <br>5.181% due 11/19/2042 •  | 900 | 902 |
|  |  | 2653 |
| **HOME EQUITY OTHER 4.5%**  |  |  |
| **Accredited Mortgage Loan Trust** <br>4.791% due 01/25/2035 •  | 261 | 256 |
| **Bear Stearns Asset-Backed Securities Trust** <br>4.846% due 11/25/2042 •  | 50 | 51 |
| **Countrywide Asset-Backed Certificates** <br>4.266% due 08/25/2034 •  | 1080 | 1060 |
| **Countrywide Asset-Backed Certificates Trust** <br>4.386% due 12/25/2034 •  | 2591 | 2541 |
| **Credit-Based Asset Servicing & Securitization LLC** <br>6.780% due 05/25/2035 þ | 269 | 249 |
| **EquiFirst Mortgage Loan Trust** <br>4.974% due 09/25/2033 •  | 22 | 22 |
| **Home Equity Asset Trust** <br>4.446% due 11/25/2032 •  | 8 | 7 |
| **HSI Asset Securitization Corp. Trust** <br>3.946% due 10/25/2036 •  | 5 | 2 |
| **Long Beach Mortgage Loan Trust**  |  |  |
| 4.406% due 10/25/2034 •  | 618 | 605 |
| 4.546% due 03/25/2032 •  | 16 | 16 |
| 4.701% due 07/25/2034 •  | 809 | 815 |
| **Morgan Stanley Dean Witter Capital I, Inc. Trust** <br>5.196% due 02/25/2033 •  | 30 | 33 |
| **Nationstar NIM Ltd.** <br>8.000% due 06/25/2037 | 24 | 0 |
| **NovaStar Mortgage Funding Trust** <br>4.586% due 02/25/2034 •  | 1222 | 1230 |
| **Renaissance Home Equity Loan Trust**  |  |  |
| 4.546% due 08/25/2032 •  | 10 | 9 |
| 4.946% due 09/25/2037 •  | 3102 | 1239 |
| **Soundview Home Loan Trust** <br>5.146% due 11/25/2033 •  | 1 | 1 |
| **Terwin Mortgage Trust** <br>4.971% due 04/25/2036 •  | 81 | 81 |
|  |  | 8217 |
| **HOME EQUITY SEQUENTIAL 0.1%**  |  |  |
| **Home Equity Mortgage Loan Asset-Backed Trust** <br>6.372% due 05/25/2033 ~ | 179 | 178 |
| **WHOLE LOAN COLLATERAL 0.1%**  |  |  |
| **Bear Stearns Asset-Backed Securities Trust** <br>5.002% due 10/25/2036 ~ | 350 | 174 |
| **OTHER ABS 22.8%**  |  |  |
| **Affirm Master Trust** <br>4.990% due 02/15/2033 | 800 | 808 |
| **Anchorage Credit Funding 1 Ltd.** <br>3.900% due 07/28/2037 | 919 | 912 |
| **Anchorage Credit Funding 10 Ltd.** <br>3.619% due 04/25/2038 | 853 | 840 |
| **Anchorage Credit Funding 4 Ltd.** <br>2.723% due 04/27/2039 | 1000 | 955 |
| **Anchorage Credit Funding 9 Ltd.** <br>3.793% due 10/25/2037 | 699 | 693 |
| **ARES XLIV CLO Ltd.** <br>5.035% due 04/15/2034 •  | 900 | 900 |
| **ARES XXVII CLO Ltd.** <br>5.009% due 10/28/2034 •  | 800 | 800 |
| **Atlantic Avenue Ltd.** <br>5.266% due 10/15/2038 •  | 900 | 903 |
| **Atlas Senior Loan Fund XVII Ltd.** <br>4.944% due 10/20/2034 •  | 1000 | 998 |
| **Bain Capital Credit CLO Ltd.** <br>4.850% due 04/23/2035 •  | 850 | 850 |
| **Bryant Park Funding Ltd.** <br>5.525% due 04/15/2037 •  | 1000 | 1005 |
| **Centerbridge Credit Funding 1 Ltd.** <br>3.164% due 07/25/2039 | 1000 | 973 |
| **College Avenue Student Loans LLC**  |  |  |
| 1.600% due 07/25/2051  | 479 | 441 |
| 3.280% due 12/28/2048  | 761 | 732 |
| 4.130% due 12/26/2047  | 382 | 378 |
| 4.946% due 07/25/2051 •  | 274 | 274 |
| 5.046% due 12/26/2047 •  | 278 | 278 |
| **Commonbond Student Loan Trust** <br>1.980% due 08/25/2050 | 345 | 311 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Fortress Credit BSL X Ltd.** <br>5.014% due 04/20/2033 •  | 900 | 901 |
| **GreenSky Home Improvement Issuer Trust** <br>5.250% due 10/27/2059 | 97 | 97 |
| **GreenSky Home Improvement Trust** <br>5.880% due 06/25/2059 | 57 | 58 |
| **Guggenheim CLO Ltd.** <br>5.055% due 01/15/2035 •  | 850 | 849 |
| **LCM 31 Ltd.** <br>5.164% due 07/20/2034 •  | 1000 | 1002 |
| **LCM 36 Ltd.** <br>4.975% due 01/15/2034 •  | 1000 | 999 |
| **LCM Loan Income Fund I Ltd.** <br>5.176% due 04/20/2031 •  | 57 | 57 |
| **Lendmark Funding Trust** <br>5.530% due 06/21/2032 | 1000 | 1014 |
| **Madison Park Funding XLIX Ltd.** <br>4.934% due 10/19/2034 •  | 450 | 450 |
| **Madison Park Funding XLVI Ltd.** <br>4.905% due 10/15/2034 •  | 1700 | 1699 |
| **Madison Park Funding XXXV Ltd.** <br>5.136% due 04/20/2032 •  | 1379 | 1380 |
| **Navient Private Education Loan Trust** <br>4.765% due 11/15/2068 •  | 65 | 65 |
| **Navient Private Education Refi Loan Trust**  |  |  |
| 1.170% due 09/16/2069  | 364 | 344 |
| 3.010% due 12/15/2059  | 611 | 598 |
| 3.130% due 02/15/2068  | 96 | 96 |
| **Navient Student Loan Trust** <br>4.000% due 12/15/2059 | 124 | 124 |
| **Nelnet Student Loan Trust**  |  |  |
| 1.420% due 04/20/2062  | 1040 | 986 |
| 5.268% due 06/22/2065 •  | 860 | 867 |
| **Pagaya AI Debt Grantor Trust** <br>5.183% due 06/15/2032 | 259 | 261 |
| **Pagaya AI Debt Selection Trust** <br>6.117% due 12/15/2031 | 140 | 141 |
| **Pagaya AI Debt Trust** <br>5.373% due 01/17/2033 | 800 | 807 |
| **Parallel Ltd.** <br>5.015% due 07/15/2034 •  | 800 | 799 |
| **Post CLO Ltd.** <br>4.985% due 10/15/2034 •  | 900 | 900 |
| **Romark CLO - IV Ltd.** <br>5.067% due 07/10/2034 •  | 900 | 900 |
| **SLM Private Credit Student Loan Trust**  |  |  |
| 4.255% due 12/15/2039 •  | 122 | 119 |
| 4.275% due 06/15/2039 •  | 1732 | 1671 |
| 4.315% due 06/15/2039 •  | 666 | 650 |
| **SMB Private Education Loan Trust**  |  |  |
| 1.290% due 07/15/2053  | 591 | 566 |
| 1.600% due 09/15/2054  | 440 | 417 |
| 2.230% due 09/15/2037  | 163 | 158 |
| 2.840% due 06/15/2037  | 139 | 137 |
| 3.940% due 02/16/2055  | 677 | 664 |
| 5.434% due 02/16/2055 •  | 774 | 782 |
| **SoFi Consumer Loan Program Trust**  |  |  |
| 4.800% due 02/27/2034  | 385 | 386 |
| 4.820% due 06/25/2034  | 243 | 244 |
| **TCW CLO AMR Ltd.** <br>5.151% due 08/16/2034 •  | 200 | 200 |
| **TCW CLO Ltd.** <br>5.494% due 01/16/2037 •  | 4000 | 4020 |
| **Tesla Sustainable Energy Trust** <br>5.080% due 06/21/2050 | 634 | 637 |
| **Upstart Pass-Through Trust** <br>7.900% due 10/20/2028 | 49 | 49 |
| **Venture 44 CLO Ltd.** <br>5.024% due 10/20/2034 •  | 1000 | 1000 |
| **Verdelite Static CLO Ltd.** <br>5.014% due 07/20/2032 •  | 695 | 695 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Wind River CLO Ltd.** <br>4.965% due 10/15/2034 •  | 845 | 843 |
|  |  | 41683 |
| Total Asset-Backed Securities (Cost $77,162) |  | 75211 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.3%**  |  |  |
| **MUTUAL FUNDS 0.3%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.850% (b) | 528179 | 528 |
| Total Short-Term Instruments (Cost $528) |  | 528 |
| Total Investments in Securities (Cost $265,020) |  | 257658 |
| **INVESTMENTS IN AFFILIATES 11.4%**  |  |  |
| **SHORT-TERM INSTRUMENTS 11.4%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 11.4%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 2126524 | 20714 |
| Total Short-Term Instruments (Cost $20,706) |  | 20714 |
| Total Investments in Affiliates (Cost $20,706) |  | 20714 |
| Total Investments 152.6% (Cost $285,726) |  | $278372 |
| **Financial Derivative Instruments (c)(d) 0.1**%(Cost or Premiums, net $8,800) |  | 273 |
| Other Assets and Liabilities, net (52.7)% |  | (96219) |
| Net Assets 100.0% |  | $182426 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 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:**  | **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.** | **\* 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.** | **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 is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** |
| **~** | **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.** | **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.** | **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.** | **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)** | **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.** | **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.** |
| **(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.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **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** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Description | Description | Description | Coupon | Maturity<br>Date | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | Proceeds | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% | U.S. Government Agencies (4.2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 2.000% | 01/01/2056 | 01/01/2056 | $ | 6700 | $ | (5438) | (5417) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 3.500 | 02/01/2056 | 02/01/2056 |  | 2150 |  | (1981) | (1981) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 4.000 | 02/01/2056 | 02/01/2056 |  | 200 |  | (190) | (190) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 4.500 | 01/01/2056 | 01/01/2056 |  | 100 |  | (97) | (98) |
| **Total Short Sales (4.2)%** | **Total Short Sales (4.2)%** | **Total Short Sales (4.2)%** | **Total Short Sales (4.2)%** | **Total Short Sales (4.2)%** | **Total Short Sales (4.2)%** | **Total Short Sales (4.2)%** |  |  |  |  |  | **$** | **(7706)** | **(7686)** |
| **The average amount of borrowings outstanding during the period ended December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. 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 December 31, 2025 was $(564) at a weighted average interest rate of 4.660%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** |
| **(c)** | **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** | **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:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **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> |
| Description | Description | Description |  | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | 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  | 03/2026 | 6 | (1445) | (1445) | (1445) | $0 | 0 | 0 | 0 | 0 | 0 |
| 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 06/2026 | 6 | (1447) | (1447) | (1447) | (2) | (2) | (2) | 0 | 0 | 0 |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 268 | (29294) | (29294) | (29294) | 133 | 133 | 133 | 32 | 32 | 0 |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 105 | (11806) | (11806) | (11806) | 97 | 97 | 97 | 21 | 21 | 0 |
| U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | 03/2026 | 31 | (3583) | (3583) | (3583) | 31 | 31 | 31 | 7 | 7 | 0 |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 72 | (8496) | (8496) | (8496) | 195 | 195 | 195 | 27 | 27 | 0 |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 213 | (24498) | (24498) | (24498) | 143 | 143 | 143 | 40 | 40 | 0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **597** | **597** | **$** | **127** | **$** | **0** |
| **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:** |
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | 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 | Liability |
| Receive | 2.300% | Annual | 01/17/2026 | 01/17/2026 | $1000 | $17 | 17 | $ | 4 | 4 | 21 | 21 | 0 | $0 |
| Receive | 0.928 | Semi-Annual | 05/06/2026 | 05/06/2026 | 900 | 40 | 40 |  | (26) | (26) | 14 | 14 | 0 | 0 |
| Receive | 3.000 | Semi-Annual | 06/19/2026 | 06/19/2026 | 25300 | 153 | 153 |  | (33) | (33) | 120 | 120 | 4 | 0 |
| Receive | 1.250 | Semi-Annual | 12/15/2026 | 12/15/2026 | 200 | 10 | 10 |  | (5) | (5) | 5 | 5 | 0 | 0 |
| Receive | 3.750 | Annual | 12/18/2026 | 12/18/2026 | 11400 | 26 | 26 |  | (58) | (58) | (32) | (32) | 2 | 0 |
| Receive | 1.750 | Semi-Annual | 12/21/2026 | 12/21/2026 | 10600 | 435 | 435 |  | (228) | (228) | 207 | 207 | 4 | 0 |

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------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | 1-Day USD-SOFR Compounded-OIS | 0.500 | Semi-Annual | 06/16/2028 | 38245 | 4058 | (1216) | 2842 | 34 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/21/2028 | 4200 | (4) | (25) | (29) | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.265 | Semi-Annual | 09/28/2028 | 600 | (51) | 16 | (35) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 12/15/2028 | 2948 | (236) | 57 | (179) | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/20/2028 | 11900 | 227 | (89) | 138 | 0 | (11) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.379 | Semi-Annual | 12/22/2028 | 600 | 51 | (13) | 38 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.518 | Semi-Annual | 01/20/2029 | 200 | (16) | 3 | (13) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.630 | Semi-Annual | 01/26/2029 | 400 | (31) | 7 | (24) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.618 | Annual | 02/09/2029 | 7100 | (473) | (62) | (535) | 0 | (8) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.888 | Annual | 03/22/2029 | 600 | (34) | (4) | (38) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.185 | Annual | 04/21/2029 | 500 | (23) | (3) | (26) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.000 | Annual | 06/15/2029 | 920 | (90) | 3 | (87) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2029 | 580 | (38) | 0 | (38) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.050 | Annual | 09/08/2029 | 400 | (4) | (2) | (6) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.100 | Annual | 09/09/2029 | 400 | (3) | (2) | (5) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.567 | Annual | 11/30/2029 | 17700 | 0 | 109 | 109 | 0 | (23) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.572 | Annual | 11/30/2029 | 10700 | 0 | 68 | 68 | 0 | (14) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 12/10/2029 | 1900 | 139 | (20) | 119 | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 12/18/2029 | 1400 | 136 | (22) | 114 | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Semi-Annual | 01/15/2030 | 6300 | 544 | (79) | 465 | 9 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 02/12/2030 | 3800 | 287 | (49) | 238 | 6 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.470 | Annual | 02/22/2030 | 300 | 3 | (4) | (1) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.340 | Annual | 02/23/2030 | 200 | 1 | (3) | (2) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.525 | Annual | 03/02/2030 | 100 | 1 | (1) | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 03/10/2030 | 1800 | 137 | (25) | 112 | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 03/19/2030 | 1510 | 57 | (17) | 40 | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.250 | Semi-Annual | 06/17/2030 | 24580 | 2915 | (398) | 2517 | 39 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2030 | 9910 | (158) | 32 | (126) | 0 | (15) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.545 | Annual | 10/31/2030 | 1300 | (20) | 15 | (5) | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.547 | Annual | 10/31/2030 | 3100 | (49) | 38 | (11) | 5 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.550 | Annual | 10/31/2030 | 2600 | (41) | 31 | (10) | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.572 | Annual | 10/31/2030 | 2600 | (44) | 31 | (13) | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.582 | Annual | 10/31/2030 | 4700 | (83) | 58 | (25) | 8 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.595 | Annual | 10/31/2030 | 3300 | (61) | 42 | (19) | 5 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.601 | Annual | 10/31/2030 | 5900 | (110) | 74 | (36) | 9 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.602 | Annual | 10/31/2030 | 5900 | (111) | 74 | (37) | 9 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.606 | Annual | 10/31/2030 | 2600 | (49) | 32 | (17) | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.623 | Annual | 10/31/2030 | 2600 | (52) | 33 | (19) | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.664 | Annual | 10/31/2030 | 1700 | (38) | 23 | (15) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.677 | Annual | 10/31/2030 | 1400 | (32) | 18 | (14) | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.687 | Annual | 10/31/2030 | 2200 | (52) | 30 | (22) | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.689 | Annual | 10/31/2030 | 3700 | (87) | 49 | (38) | 6 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.691 | Annual | 10/31/2030 | 2800 | (66) | 37 | (29) | 4 | 0 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.721 | Annual | 10/31/2030 | 1700 | (43) | 23 | (20) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.722 | Annual | 10/31/2030 | 1700 | (43) | 23 | (20) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.727 | Annual | 10/31/2030 | 1700 | (44) | 24 | (20) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.732 | Annual | 10/31/2030 | 1100 | (28) | 15 | (13) | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.735 | Annual | 10/31/2030 | 1700 | (44) | 23 | (21) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.739 | Annual | 10/31/2030 | 1700 | (45) | 24 | (21) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.749 | Annual | 10/31/2030 | 1700 | (46) | 24 | (22) | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.000 | Semi-Annual | 12/16/2030 | 706 | 100 | (11) | 89 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2030 | 160 | (3) | 1 | (2) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 0.750 | Semi-Annual | 06/16/2031 | 500 | (84) | 8 | (76) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2031 | 4900 | (141) | 93 | (48) | 9 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2031 | 31700 | 913 | (592) | 321 | 0 | (54) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.405 | Semi-Annual | 09/07/2031 | 800 | 106 | (9) | 97 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 10/05/2031 | 500 | (64) | 1 | (63) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.535 | Semi-Annual | 10/15/2031 | 500 | (63) | 1 | (62) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.535 | Semi-Annual | 10/22/2031 | 300 | (38) | 1 | (37) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.545 | Semi-Annual | 10/26/2031 | 300 | (38) | 1 | (37) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.735 | Semi-Annual | 01/12/2032 | 300 | (35) | 1 | (34) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.655 | Semi-Annual | 01/24/2032 | 400 | (49) | 1 | (48) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.768 | Semi-Annual | 02/02/2032 | 300 | (35) | 2 | (33) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.650 | Annual | 02/08/2032 | 400 | (43) | (8) | (51) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.988 | Semi-Annual | 02/09/2032 | 200 | 21 | (1) | 20 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.008 | Semi-Annual | 02/09/2032 | 300 | 30 | (1) | 29 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.770 | Annual | 02/14/2032 | 400 | (40) | (8) | (48) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.730 | Annual | 02/24/2032 | 400 | (41) | (8) | (49) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.765 | Annual | 03/16/2032 | 100 | (10) | (2) | (12) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 03/19/2032 | 1780 | 66 | (22) | 44 | 3 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.817 | Annual | 04/05/2032 | 1600 | (156) | (29) | (185) | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.872 | Annual | 04/06/2032 | 800 | (75) | (15) | (90) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.694 | Annual | 04/30/2032 | 6300 | 0 | 42 | 42 | 0 | (11) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.674 | Annual | 05/31/2032 | 5700 | 0 | 30 | 30 | 0 | (10) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.678 | Annual | 05/31/2032 | 4700 | 0 | 26 | 26 | 0 | (8) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.680 | Annual | 05/31/2032 | 7800 | 0 | 44 | 44 | 0 | (14) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.705 | Annual | 05/31/2032 | 7000 | 0 | 50 | 50 | 0 | (13) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.250 | Annual | 06/15/2032 | 3430 | (475) | (40) | (515) | 0 | (6) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2032 | 2640 | (276) | (37) | (313) | 0 | (5) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2032 | 260 | 3 | 3 | 6 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.680 | Annual | 07/11/2032 | 400 | (17) | (7) | (24) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.690 | Annual | 07/11/2032 | 400 | (16) | (7) | (23) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.050 | Annual | 09/06/2032 | 600 | (10) | (11) | (21) | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2032 | 10 | 0 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2032 | 550 | (8) | 3 | (5) | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.400 | Annual | 02/23/2033 | 200 | 2 | (6) | (4) | 0 | 0 |

---

------

<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.430 | Annual | 02/27/2033 | 02/27/2033 | 10 | 10 |  | 0 | 0 |  | 0 | 0 |  | 0 | 0 |  | 0 | 0 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.370 | Annual | 03/01/2033 | 03/01/2033 | 200 | 200 |  | 1 | 1 |  | (6) | (6) |  | (5) | (5) |  | 0 | 0 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.450 | Annual | 03/07/2033 | 03/07/2033 | 300 | 300 |  | 3 | 3 |  | (8) | (8) |  | (5) | (5) |  | 0 | 0 |  | (1) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 06/21/2033 | 06/21/2033 | 305 | 305 |  | (7) | (7) |  | (8) | (8) |  | (15) | (15) |  | 0 | 0 |  | (1) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2033 | 12/20/2033 | 1860 | 1860 |  | 27 | 27 |  | (49) | (49) |  | (22) | (22) |  | 0 | 0 |  | (4) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2034 | 06/20/2034 | 2430 | 2430 |  | 86 | 86 |  | (83) | (83) |  | 3 | 3 |  | 0 | 0 |  | (5) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2034 | 12/18/2034 | 110 | 110 |  | 4 | 4 |  | (4) | (4) |  | 0 | 0 |  | 0 | 0 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2035 | 06/18/2035 | 22100 | 22100 |  | 1106 | 1106 |  | (83) | (83) |  | 1023 | 1023 |  | 50 | 50 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.524 | Semi-Annual | 01/19/2051 | 01/19/2051 | 3100 | 3100 |  | (1133) | (1133) |  | (302) | (302) |  | (1435) | (1435) |  | 0 | 0 |  | (8) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.815 | Semi-Annual | 01/24/2052 | 01/24/2052 | 100 | 100 |  | (32) | (32) |  | (10) | (10) |  | (42) | (42) |  | 0 | 0 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.867 | Semi-Annual | 01/26/2052 | 01/26/2052 | 100 | 100 |  | (31) | (31) |  | (11) | (11) |  | (42) | (42) |  | 0 | 0 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2052 | 06/15/2052 | 13600 | 13600 |  | 3898 | 3898 |  | 1630 | 1630 |  | 5528 | 5528 |  | 35 | 35 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.080 | Annual | 02/23/2053 | 02/23/2053 | 100 | 100 |  | (5) | (5) |  | (14) | (14) |  | (19) | (19) |  | 0 | 0 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 12/20/2053 | 12/20/2053 | 400 | 400 |  | 6 | 6 |  | 56 | 56 |  | 62 | 62 |  | 1 | 1 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2055 | 06/18/2055 | 10200 | 10200 |  | (1390) | (1390) |  | (258) | (258) |  | (1648) | (1648) |  | 0 | 0 |  | (31) |
| **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** | **$** | $**8945** | **8945** | **8945** | $**(1000)** | **(1000)** | **(1000)** | $**7945** | **7945** | **7945** | $**304** | **304** | **$** | $**(271)** | **(271)** |
| <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | <br> **Cash of $4,061 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| **(d)** | **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** | **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:** | **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 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> | **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> | **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>(3)</sup> | <u>Swap Agreements, at Value</u><sup>(3)</sup> | <u>Swap Agreements, at Value</u><sup>(3)</sup> |
| Counterparty | Counterparty | Counterparty | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date |  | Notional<br>Amount<sup>(2)</sup> | Notional<br>Amount<sup>(2)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset |  | Liability |
| BOA | BOA | BOA | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | 0.500% | Monthly | Monthly | 05/11/2063 | 05/11/2063 | $ | 16 | 16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $ | 0 |
| GST | GST | GST | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | 0.500 | Monthly | Monthly | 11/17/2059 | 11/17/2059 |  | 10950 | 10950 | (111) | (111) | (111) | 144 | 144 | 144 | 33 |  | 0 |
|  |  |  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | 0.500 | Monthly | Monthly | 05/11/2063 | 05/11/2063 |  | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | 0 |
|  |  |  | CMBX.NA.AAA.8 Index  | CMBX.NA.AAA.8 Index  | CMBX.NA.AAA.8 Index  | CMBX.NA.AAA.8 Index  | 0.500 | Monthly | Monthly | 10/17/2057 | 10/17/2057 |  | 42 | 42 | (2) | (2) | (2) | 2 | 2 | 2 | 0 |  | 0 |
|  |  |  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | CMBX.NA.AAA.9 Index  | 0.500 | Monthly | Monthly | 09/17/2058 | 09/17/2058 |  | 3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | 0 |
| MYC | MYC | MYC | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | 0.500 | Monthly | Monthly | 05/11/2063 | 05/11/2063 |  | 3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | 0 |
| SAL | SAL | SAL | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | CMBX.NA.AAA.10 Index  | 0.500 | Monthly | Monthly | 11/17/2059 | 11/17/2059 |  | 3100 | 3100 | (24) | (24) | (24) | 33 | 33 | 33 | 9 |  | 0 |
|  |  |  | CMBX.NA.AAA.11 Index  | CMBX.NA.AAA.11 Index  | CMBX.NA.AAA.11 Index  | CMBX.NA.AAA.11 Index  | 0.500 | Monthly | Monthly | 11/18/2054 | 11/18/2054 |  | 2399 | 2399 | 11 | 11 | 11 | 3 | 3 | 3 | 14 |  | 0 |
|  |  |  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | CMBX.NA.AAA.12 Index  | 0.500 | Monthly | Monthly | 08/17/2061 | 08/17/2061 |  | 9200 | 9200 | (19) | (19) | (19) | 76 | 76 | 76 | 57 |  | 0 |
|  |  |  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | CMBX.NA.AAA.6 Index  | 0.500 | Monthly | Monthly | 05/11/2063 | 05/11/2063 |  | 6 | 6 | 0 | 0 | 0 | 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** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**(145)** | **(145)** | **(145)** | $**258** | **258** | **258** | **113** | **$** | $**0** |
| <sup>(1)</sup> | If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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> | The maximum potential amount the Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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>(3)</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. | 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** | **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** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |  |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 2 | Level 2 | Level 2 | Level 3 | Level 3 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |  |  |
| **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** | **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** |  |  |
| 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 | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |  |  |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | 0 | 0 | 0 | $ | 1 | 1 | $ | 0 | 0 | 0 | $ | $ | 1 |  |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 | 0 |  | 119076 | 119076 |  | 0 | 0 | 0 |  |  | 119076 |  |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 | 0 |  | 8665 | 8665 |  | 0 | 0 | 0 |  |  | 8665 |  |  |
| 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 | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 0 | 0 |  | 54177 | 54177 |  | 0 | 0 | 0 |  |  | 54177 |  |  |
| 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 | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |  |  |
| Automobile ABS Other | Automobile ABS Other | Automobile ABS Other | Automobile ABS Other | Automobile ABS Other | Automobile ABS Other | Automobile ABS Other | Automobile ABS Other | Automobile ABS Other | 0 | 0 | 0 |  | 17 | 17 |  | 0 | 0 | 0 |  |  | 17 |  |  |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | 0 | 0 | 0 |  | 22289 | 22289 |  | 0 | 0 | 0 |  |  | 22289 |  |  |

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<br> Schedule of Investments PIMCO Short-Term Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| CMBS Other | 0 | 2653 | 0 | 2653 |
| Home Equity Other | 0 | 8217 | 0 | 8217 |
| Home Equity Sequential | 0 | 178 | 0 | 178 |
| Whole Loan Collateral | 0 | 174 | 0 | 174 |
| Other ABS | 0 | 41683 | 0 | 41683 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | 0 | 528 | 0 | 528 |
|  | $0 | $257658 | $0 | $257658 |
| **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 | $20714 | $0 | $0 | $20714 |
| Total Investments | $20714 | $257658 | $0 | $278372 |
| **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  |
| U.S. Government Agencies | $0 | $(7686) | $0 | $(7686) |
| **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |
| Exchange-traded or centrally cleared | 0 | 431 | 0 | 431 |
| Over the counter | 0 | 113 | 0 | 113 |
|  | $0 | $544 | $0 | $544 |
| **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  |
| Exchange-traded or centrally cleared | $0 | $(271) | $0 | $(271) |
| Total Financial Derivative Instruments | $0 | $273 | $0 | $273 |
| Totals | $20714 | $250245 | $0 | $270959 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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<br> Schedule of Investments PIMCO U.S. Government and Short-Term Investments Portfolio December 31, 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 94.6% ¤** |  |  |
| **CORPORATE BONDS & NOTES 1.5%**  |  |  |
| **INDUSTRIALS 1.5%**  |  |  |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | $17580 | $18589 |
| Total Corporate Bonds & Notes (Cost $17,580) |  | 18589 |
| **U.S. GOVERNMENT AGENCIES 0.4%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 5.500% due 11/01/2038 - 10/01/2039 | 31 | 32 |
| 6.208% due 05/01/2032 •  | 3 | 3 |
| 6.482% due 07/01/2029 •  | 1 | 1 |
| 6.503% due 01/01/2032 •  | 1 | 1 |
| 6.505% due 06/01/2035 •  | 295 | 307 |
| 6.676% due 02/01/2035 •  | 113 | 116 |
| **Federal Home Loan Mortgage Corp. Coupon STRIPS**<br>0.000% due 01/15/2032 (a) | 563 | 439 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 4.500% due 06/15/2035 - 09/15/2035 | 244 | 246 |
| 4.598% due 06/15/2030 - 12/15/2032 •  | 12 | 12 |
| 4.648% due 06/15/2031 •  | 5 | 5 |
| 5.000% due 01/15/2034 | 753 | 772 |
| **Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates**  |  |  |
| 4.229% due 07/25/2031 •  | 140 | 139 |
| 5.229% due 10/25/2044 - 02/25/2045 •  | 651 | 610 |
| 5.429% due 07/25/2044 •  | 298 | 290 |
| 6.500% due 10/25/2043 | 251 | 259 |
| **Federal National Mortgage Association**  |  |  |
| 4.000% due 05/01/2030 - 12/01/2041 | 746 | 730 |
| 4.500% due 04/01/2028 - 11/01/2029 | 42 | 42 |
| 5.276% due 06/01/2043 •  | 117 | 118 |
| 5.277% due 02/01/2041 - 10/01/2044 •  | 560 | 566 |
| 5.395% due 12/01/2029 •  | 3 | 3 |
| 5.765% due 11/01/2035 •  | 44 | 44 |
| 5.802% due 11/01/2035 •  | 45 | 46 |
| 6.048% due 03/01/2035 •  | 96 | 98 |
| 6.246% due 10/01/2032 •  | 2 | 2 |
| 6.250% due 12/01/2032 •  | 1 | 1 |
| 6.468% due 01/01/2036 •  | 36 | 37 |
| **Federal National Mortgage Association Grantor Trust**  |  |  |
| 4.066% due 07/25/2032 •  | 33 | 33 |
| 4.247% due 03/25/2032 •  | 103 | 100 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 4.177% due 03/25/2036 •  | 37 | 37 |
| 4.246% due 12/25/2036 •  | 76 | 75 |
| 4.306% due 03/25/2034 •  | 20 | 20 |
| 4.889% due 04/25/2032 •  | 4 | 4 |
| **Federal National Mortgage Association REMICS Trust**  |  |  |
| 4.109% due 06/25/2033 •  | 49 | 47 |
| **Federal National Mortgage Association Trust**<br>4.339% due 05/25/2042 •  | 53 | 53 |
| **Government National Mortgage Association**  |  |  |
| 5.625% due 04/20/2027 - 04/20/2032 •  | 108 | 109 |
| Total U.S. Government Agencies (Cost $5,436) |  | 5397 |
| **U.S. TREASURY OBLIGATIONS 87.4%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 1.375% due 11/15/2040 (d) | 37030 | 24051 |
| 1.375% due 08/15/2050 | 150550 | 74061 |
| 1.625% due 11/15/2050 | 214700 | 112776 |
| 1.750% due 08/15/2041 | 12400 | 8371 |
| 1.875% due 02/15/2041 | 110500 | 77238 |
| 2.250% due 08/15/2049 | 50320 | 31572 |
| 2.250% due 02/15/2052 | 600 | 364 |
| 2.750% due 11/15/2042 | 83400 | 64114 |
| 2.875% due 05/15/2043 (d) | 10960 | 8512 |
| 2.875% due 05/15/2049 | 56970 | 40892 |
| 3.000% due 05/15/2042 | 51000 | 41057 |
| 3.000% due 11/15/2044 | 213100 | 164869 |
| 3.000% due 08/15/2048 (d) | 8300 | 6148 |
| 3.000% due 02/15/2049 | 38140 | 28106 |

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<br> Schedule of Investments PIMCO U.S. Government and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 3.125% due 02/15/2043 | 41250 | 33375 |
| 3.625% due 08/15/2043 | 53000 | 45766 |
| 3.625% due 02/15/2044 | 32300 | 27739 |
| 4.000% due 11/15/2042 | 38100 | 34934 |
| 4.125% due 08/15/2044 (d) | 7500 | 6886 |
| 4.375% due 02/15/2038 | 78530 | 79266 |
| 4.375% due 08/15/2043 (d) | 23300 | 22263 |
| 4.500% due 05/15/2038 | 31463 | 32071 |
| 4.875% due 08/15/2045 | 600 | 606 |
| **U.S. Treasury Notes**  |  |  |
| 2.875% due 05/15/2028 (d) | 9680 | 9543 |
| 3.875% due 03/31/2027 | 46600 | 46808 |
| 3.875% due 05/31/2027 (d) | 44100 | 44329 |
| 4.250% due 08/15/2035 | 1100 | 1108 |
| Total U.S. Treasury Obligations (Cost $1,428,503) |  | 1066825 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 3.1%**  |  |  |
| **Bear Stearns ALT-A Trust**  |  |  |
| 4.166% due 02/25/2034 •  | 346 | 330 |
| 4.397% due 11/25/2036 ~  | 5006 | 2753 |
| 4.474% due 11/25/2036 ~  | 10610 | 5329 |
| **Bear Stearns ARM Trust**  |  |  |
| 6.125% due 04/25/2033 ~  | 5 | 5 |
| 6.214% due 01/25/2034 ~  | 66 | 66 |
| 6.232% due 11/25/2034 ~  | 116 | 110 |
| 6.373% due 04/25/2033 ~  | 10 | 10 |
| **Chevy Chase Funding LLC Mortgage-Backed Certificates** <br>4.096% due 08/25/2035 •  | 72 | 70 |
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 3.647% due 04/25/2035 ~  | 163 | 115 |
| 4.103% due 09/20/2036 ~  | 1491 | 1326 |
| 4.306% due 05/25/2035 •  | 374 | 333 |
| 4.426% due 04/25/2035 •  | 7 | 7 |
| 4.506% due 02/25/2035 •  | 230 | 220 |
| 4.526% due 02/25/2035 •  | 137 | 129 |
| **Citigroup Mortgage Loan Trust, Inc.** <br>6.490% due 05/25/2035 •  | 18 | 18 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 4.028% due 02/20/2047 •  | 2029 | 1667 |
| 4.166% due 02/25/2047 •  | 179 | 169 |
| 4.206% due 05/25/2047 •  | 1147 | 1068 |
| 4.246% due 05/25/2036 •  | 24 | 21 |
| 4.266% due 05/25/2035 •  | 181 | 177 |
| 4.268% due 03/20/2046 •  | 1466 | 1391 |
| 4.406% due 12/25/2035 •  | 127 | 121 |
| 5.029% due 02/25/2036 •  | 120 | 111 |
| 5.500% due 03/25/2036  | 804 | 328 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>0.098% due 06/25/2032 ~ | 1 | 1 |
| **DSLA Mortgage Loan Trust** <br>4.366% due 08/19/2045 •  | 146 | 133 |
| **GreenPoint MTA Trust** <br>4.286% due 06/25/2045 •  | 113 | 102 |
| **GSR Mortgage Loan Trust** <br>4.151% due 04/25/2036 ~ | 1389 | 821 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 4.106% due 03/19/2037 •  | 538 | 505 |
| 4.286% due 05/19/2035 •  | 460 | 449 |
| **IndyMac INDX Mortgage Loan Trust** <br>4.486% due 02/25/2035 •  | 520 | 491 |
| **JP Morgan Mortgage Trust**  |  |  |
| 5.119% due 02/25/2036 ~  | 239 | 164 |
| 5.191% due 07/25/2035 ~  | 119 | 115 |
| 5.990% due 07/25/2064 ~  | 759 | 767 |
| **MASTR Adjustable Rate Mortgages Trust** <br>5.839% due 05/25/2034 ~ | 41 | 40 |
| **Merrill Lynch Mortgage Investors Trust** <br>5.630% due 12/25/2032 •  | 12 | 12 |
| **RALI Trust**  |  |  |
| 4.146% due 08/25/2035 •  | 383 | 264 |
| 5.389% due 09/25/2045 •  | 124 | 108 |
| **Residential Asset Mortgage Products Trust** <br>8.500% due 10/25/2031 | 109 | 100 |
| **RFMSI Trust** <br>6.500% due 03/25/2032 | 5 | 5 |
| **Sequoia Mortgage Trust**  |  |  |
| 4.548% due 07/20/2033 •  | 137 | 138 |
| 4.553% due 07/20/2033 •  | 97 | 94 |
| **Sequoia Mortgage Trust 5** <br>4.546% due 10/19/2026 •  | 52 | 52 |
| **Structured Adjustable Rate Mortgage Loan Trust** <br>5.429% due 01/25/2035 •  | 142 | 132 |

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<br> Schedule of Investments PIMCO U.S. Government and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Structured Asset Mortgage Investments II Trust**  |  |  |
| 4.286% due 05/25/2036 •  | 5849 | 4913 |
| 4.426% due 07/19/2034 •  | 14 | 13 |
| 4.546% due 03/19/2034 •  | 50 | 48 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 3.713% due 05/25/2046 •  | 188 | 157 |
| 3.878% due 12/25/2046 •  | 635 | 569 |
| 3.897% due 12/25/2046 •  | 443 | 408 |
| 4.366% due 11/25/2045 •  | 389 | 368 |
| 4.386% due 12/25/2045 •  | 123 | 124 |
| 4.759% due 01/25/2047 •  | 283 | 274 |
| 5.009% due 06/25/2046 •  | 914 | 867 |
| 5.029% due 02/25/2046 •  | 695 | 644 |
| 5.077% due 07/25/2046 •  | 2134 | 1981 |
| 5.077% due 08/25/2046 •  | 6128 | 5388 |
| 5.229% due 11/25/2042 •  | 79 | 77 |
| 5.529% due 09/25/2046 •  | 822 | 781 |
| 5.529% due 10/25/2046 •  | 302 | 290 |
| 6.166% due 03/25/2034 ~  | 20 | 20 |
| **Washington Mutual MSC Mortgage Pass-Through Certificates Trust**  |  |  |
| 5.319% due 05/25/2033 ~  | 29 | 30 |
| Total Non-Agency Mortgage-Backed Securities (Cost $49,203) |  | 37319 |
| **ASSET-BACKED SECURITIES 2.2%**  |  |  |
| **HOME EQUITY OTHER 0.2%**  |  |  |
| **Asset-Backed Securities Corp. Home Equity Loan Trust**  |  |  |
| 3.926% due 05/25/2037 •  | 16 | 12 |
| 4.385% due 06/15/2031 •  | 268 | 264 |
| **C-BASS Trust** <br>2.991% due 01/25/2037 •  | 801 | 237 |
| **Citigroup Global Markets Mortgage Securities VII, Inc.** <br>5.196% due 01/25/2032 •  | 8 | 8 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>4.379% due 01/25/2032 •  | 17 | 17 |
| **GE-WMC Mortgage Securities Trust** <br>3.926% due 08/25/2036 •  | 37 | 16 |
| **GSAMP Trust**  |  |  |
| 3.916% due 12/25/2036 •  | 355 | 177 |
| 4.026% due 11/25/2035 •  | 130 | 9 |
| **Home Equity Asset Trust** <br>4.766% due 02/25/2033 •  | 1 | 1 |
| **HSI Asset Securitization Corp. Trust** <br>3.946% due 10/25/2036 •  | 87 | 31 |
| **JP Morgan Mortgage Acquisition Trust** <br>4.006% due 08/25/2036 •  | 25 | 11 |
| **Lehman ABS Mortgage Loan Trust** <br>3.936% due 06/25/2037 •  | 319 | 214 |
| **Long Beach Mortgage Loan Trust** <br>4.406% due 10/25/2034 •  | 1300 | 1272 |
| **MASTR Asset-Backed Securities Trust** <br>3.946% due 11/25/2036 •  | 70 | 20 |
| **Merrill Lynch Mortgage Investors Trust** <br>4.086% due 02/25/2037 •  | 246 | 69 |
| **Morgan Stanley ABS Capital I, Inc. Trust** <br>3.906% due 05/25/2037 •  | 118 | 108 |
| **Morgan Stanley IXIS Real Estate Capital Trust** <br>3.896% due 11/25/2036 •  | 29 | 9 |
| **New Century Home Equity Loan Trust** <br>4.206% due 05/25/2036 •  | 94 | 94 |
| **Renaissance Home Equity Loan Trust** <br>4.546% due 08/25/2032 •  | 2 | 2 |
| **Securitized Asset-Backed Receivables LLC Trust** <br>3.966% due 12/25/2036 •  | 1378 | 289 |
| **Soundview Home Loan Trust**  |  |  |
| 3.926% due 06/25/2037 •  | 170 | 115 |
| 3.966% due 11/25/2036 •  | 427 | 115 |
|  |  | 3090 |
| **WHOLE LOAN COLLATERAL 0.0%**  |  |  |
| **Securitized Asset-Backed Receivables LLC Trust** <br>4.006% due 11/25/2036 •  | 432 | 119 |
| **OTHER ABS 2.0%**  |  |  |
| **Anchorage Capital CLO 28 Ltd.** <br>5.584% due 04/20/2037 •  | 2500 | 2514 |
| **Apex Credit CLO Ltd.** <br>5.684% due 04/20/2036 •  | 1300 | 1307 |
| **Atlas Senior Loan Fund XII Ltd.** <br>5.307% due 10/24/2031 •  | 229 | 230 |

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<br> Schedule of Investments PIMCO U.S. Government and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **BlueMountain CLO Ltd.** <br>5.048% due 10/25/2030 •  | 515 | 516 |
| **Capital Four U.S. CLO II Ltd.** <br>5.784% due 01/20/2037 •  | 2200 | 2216 |
| **Carlyle Global Market Strategies CLO Ltd.** <br>5.126% due 07/20/2031 •  | 467 | 468 |
| **Dewolf Park CLO Ltd.** <br>5.086% due 10/15/2030 •  | 369 | 369 |
| **Diameter Capital CLO 4 Ltd.** <br>5.735% due 01/15/2037 •  | 2700 | 2718 |
| **Diameter Capital CLO 6 Ltd.** <br>5.515% due 04/15/2037 •  | 2400 | 2412 |
| **Dryden 37 Senior Loan Fund** <br>5.266% due 01/15/2031 •  | 760 | 760 |
| **Dryden 54 Senior Loan Fund** <br>5.034% due 10/19/2029 •  | 276 | 276 |
| **KKR CLO 21 Ltd.** <br>5.166% due 04/15/2031 •  | 221 | 221 |
| **Magnetite XXV Ltd.** <br>5.320% due 01/25/2032 •  | 424 | 425 |
| **Newark BSL CLO 2 Ltd.** <br>5.090% due 07/25/2030 •  | 364 | 364 |
| **Romark WM-R Ltd.** <br>5.176% due 04/20/2031 •  | 222 | 222 |
| **Sound Point CLO XVIII Ltd.** <br>5.266% due 01/21/2031 •  | 64 | 64 |
| **Sound Point CLO XXIII** <br>5.336% due 07/15/2034 •  | 1000 | 1003 |
| **Sound Point CLO XXVII Ltd.** <br>5.300% due 10/25/2034 •  | 3000 | 3010 |
| **Sycamore Tree CLO Ltd.** <br>5.564% due 01/20/2037 •  | 1800 | 1810 |
| **Symphony CLO 36 Ltd.** <br>5.305% due 01/16/2031 •  | 11 | 11 |
| **TCW CLO Ltd.** <br>5.494% due 01/16/2037 •  | 1000 | 1005 |
| **Venture 35 CLO Ltd.** <br>5.319% due 10/22/2031 •  | 1224 | 1225 |
| **Venture XIX CLO Ltd.** <br>5.426% due 01/15/2032 •  | 701 | 702 |
|  |  | 23848 |
| Total Asset-Backed Securities (Cost $30,066) |  | 27057 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class (b)** | 535636 | 536 |
| Total Short-Term Instruments (Cost $536) |  | 536 |
| Total Investments in Securities (Cost $1,531,324) |  | 1155723 |
| **INVESTMENTS IN AFFILIATES 4.6%**  |  |  |
| **SHORT-TERM INSTRUMENTS 4.6%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.6%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 5705854 | 55581 |
| Total Short-Term Instruments (Cost $55,573) |  | 55581 |
| Total Investments in Affiliates (Cost $55,573) |  | 55581 |
| Total Investments 99.2% (Cost $1,586,897) |  | $1211304 |
| **Financial Derivative Instruments (c)(f) 0.0**%(Cost or Premiums, net $18,378) |  | 226 |
| Other Assets and Liabilities, net 0.8% |  | 9307 |
| Net Assets 100.0% |  | $1220837 |

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<br> Schedule of Investments PIMCO U.S. Government and Short-Term Investments Portfolio (Cont.) December 31, 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:**  | **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.** | **\* 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.** | **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.** |
| **~** | **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.** | **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.** | **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.** |
| **(a)** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** |
| **(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.** | **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.** |
| **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** | **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** |
| **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Description | Description | Description | Description | Coupon | Maturity<br>Date | Maturity<br>Date |  | Principal<br>Amount | Principal<br>Amount | Proceeds | Proceeds | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% | U.S. Government Agencies (1.6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 4.000% | 02/01/2056 | 02/01/2056 | $ | 17000 | 17000 | $ | (16135) | (16135) | $(16117) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA  | 4.500 | 01/01/2056 | 01/01/2056 |  | 3000 | 3000 |  | (2917) | (2917) | (2929) |
| **Total Short Sales (1.6)%** | **Total Short Sales (1.6)%** | **Total Short Sales (1.6)%** | **Total Short Sales (1.6)%** | **Total Short Sales (1.6)%** | **Total Short Sales (1.6)%** | **Total Short Sales (1.6)%** | **Total Short Sales (1.6)%** |  |  |  |  |  |  | **$** | **(19052)** | **(19052)** | $**(19046)** |
| **The average amount of borrowings outstanding during the period ended December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. 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 December 31, 2025 was $(36779) at a weighted average interest rate of 4.413%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** |
| **(c)** | **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** | **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:** | **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** | **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> | <u>Variation Margin</u> |
| Description | Description | Description | Description |  | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | U.S. Treasury 5-Year Note March Futures  | 03/2026 | 6071 | 663589 | 663589 | 663589 | $(1247) | (1247) | (1247) | (1247) | 0 | 0 | 0 | (712) |
| U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | U.S. Treasury 10-Year Note March Futures  | 03/2026 | 9279 | 1043308 | 1043308 | 1043308 | (4262) | (4262) | (4262) | (4262) | 0 | 0 | 0 | (1885) |
| U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | U.S. Ultra Treasury 10-Year Note March Futures  | 03/2026 | 6198 | 712867 | 712867 | 712867 | (4922) | (4922) | (4922) | (4922) | 0 | 0 | 0 | (1162) |
|  |  |  |  |  |  |  |  |  |  | (10431) | (10431) | (10431) | $ | 0 | 0 | $ | (3759) |
| **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 |  | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | U.S. Treasury 2-Year Note March Futures  | 03/2026 | 5425 | (1132681) | (1132681) | (1132681) | $(66) | (66) | (66) | (66) | 381 | 381 | 381 | 0 |
| U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | U.S. Treasury Long-Term Bond March Futures  | 03/2026 | 2486 | (287366) | (287366) | (287366) | 3198 | 3198 | 3198 | 3198 | 544 | 544 | 544 | 0 |
| U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | U.S. Treasury Ultra Long-Term Bond March Futures  | 03/2026 | 530 | (62540) | (62540) | (62540) | 1237 | 1237 | 1237 | 1237 | 199 | 199 | 199 | 0 |
|  |  |  |  |  |  |  |  |  |  | 4369 | 4369 | 4369 | $ | 1124 | 1124 | $ | 0 |
| **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** | **(6062)** | **(6062)** | **(6062)** | **$** | **1124** | **1124** | **$** | **(3759)** |
| **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 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> | **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>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount<sup>(2)</sup> | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(3)</sup> | Market<br>Value<sup>(3)</sup> | Market<br>Value<sup>(3)</sup> | Asset | Asset | Liability |
| CDX.IG-44 5-Year Index  | CDX.IG-44 5-Year Index  | 1.000% | Quarterly | 06/20/2030 | 06/20/2030 | $17400 | $372 | 372 | $ | 24 | 24 | $396 | 396 | 396 | $0 | 0 | $0 |
| CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | 1.000 | Quarterly | 12/20/2030 | 12/20/2030 | 87910 | 1978 | 1978 |  | 39 | 39 | 2017 | 2017 | 2017 | 2 | 2 | 0 |
|  |  |  |  |  |  |  | $2350 | 2350 | $ | 63 | 63 | $2413 | 2413 | 2413 | $2 | 2 | $0 |

---

------

<br> Schedule of Investments PIMCO U.S. Government and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Pay/<br>Receive<br>Floating Rate | Fixed Rate | Payment<br>Frequency | 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 |
| Receive | Receive | 3.300% | Annual | 02/28/2029 | $118000 | 118000 | $(155) | (155) | $1350 | 1350 | $1195 | 1195 | 131 | 131 | $0 |
| Pay | Pay | 3.857 | Annual | 03/31/2030 | 140300 | 140300 | 192 | 192 | 1803 | 1803 | 1995 | 1995 | 0 | 0 | (198) |
| Receive<sup>(4)</sup> | Receive<sup>(4)</sup> | 3.290 | Annual | 05/31/2030 | 341049 | 341049 | 234 | 234 | 1217 | 1217 | 1451 | 1451 | 487 | 487 | 0 |
| Receive<sup>(4)</sup> | Receive<sup>(4)</sup> | 3.375 | Annual | 05/31/2030 | 449790 | 449790 | 436 | 436 | 6 | 6 | 442 | 442 | 644 | 644 | 0 |
| Receive | Receive | 3.328 | Annual | 04/30/2031 | 11500 | 11500 | 0 | 0 | 164 | 164 | 164 | 164 | 20 | 20 | 0 |
| Receive | Receive | 3.300 | Annual | 06/30/2031 | 38900 | 38900 | 3 | 3 | 572 | 572 | 575 | 575 | 68 | 68 | 0 |
| Receive | Receive | 3.150 | Annual | 05/15/2034 | 394400 | 394400 | 0 | 0 | 18452 | 18452 | 18452 | 18452 | 873 | 873 | 0 |
| Receive | Receive | 3.750 | Annual | 12/18/2034 | 31000 | 31000 | (223) | (223) | 190 | 190 | (33) | (33) | 72 | 72 | 0 |
| Pay | Pay | 3.750 | Annual | 12/17/2035 | 173100 | 173100 | 1974 | 1974 | (2685) | (2685) | (711) | (711) | 0 | 0 | (426) |
| Receive | Receive | 2.606 | Semi-Annual | 12/21/2047 | 40000 | 40000 | (13) | (13) | 10801 | 10801 | 10788 | 10788 | 108 | 108 | 0 |
| Receive | Receive | 1.750 | Annual | 12/21/2052 | 53000 | 53000 | 10095 | 10095 | 11000 | 11000 | 21095 | 21095 | 135 | 135 | 0 |
| Receive<sup>(4)</sup> | Receive<sup>(4)</sup> | 4.010 | Annual | 11/15/2053 | 149200 | 149200 | 2084 | 2084 | 2088 | 2088 | 4172 | 4172 | 505 | 505 | 0 |
| Receive<sup>(4)</sup> | Receive<sup>(4)</sup> | 4.075 | Annual | 11/15/2053 | 55443 | 55443 | 412 | 412 | 549 | 549 | 961 | 961 | 189 | 189 | 0 |
| Receive | Receive | 3.500 | Annual | 06/20/2054 | 14000 | 14000 | 342 | 342 | 1312 | 1312 | 1654 | 1654 | 45 | 45 | 0 |
| Receive | Receive | 3.500 | Annual | 12/18/2054 | 64200 | 64200 | 647 | 647 | 6712 | 6712 | 7359 | 7359 | 206 | 206 | 0 |
|  |  |  |  |  |  | $ | 16028 | $ | 53531 | $ | 69559 | $ | 3483 | $ | (624) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **18378** | **$** | **53594** | **$** | **71972** | **$** | **3485** | **$** | **(624)** |
| **(d)** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** | **Securities with an aggregate market value of $70,083 and cash of $1,935 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of December 31, 2025.** |
| <sup>(1)</sup> | If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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> | The maximum potential amount the Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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>(3)</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. |
| <sup>(4)</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. |
| **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** | **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 December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of December 31, 2025 in valuing the Portfolio's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 | Fair Value<br>at 12/31/2025 |  |
| **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** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |  |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | 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 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | $ | 18589 | $ | 0 | $ | $18589 | 18589 |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 |  | 5397 |  | 0 |  | 5397 | 5397 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 |  | 1066825 |  | 0 |  | 1066825 | 1066825 |  |
| 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 | Non-Agency Mortgage-Backed Securities | 0 | 0 |  | 37319 |  | 0 |  | 37319 | 37319 |  |
| 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 |  |
| Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | 0 | 0 |  | 3090 |  | 0 |  | 3090 | 3090 |  |
| Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | 0 | 0 |  | 119 |  | 0 |  | 119 | 119 |  |
| Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | 0 | 0 |  | 23848 |  | 0 |  | 23848 | 23848 |  |
| 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 | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 |  | 536 |  | 0 |  | 536 | 536 |  |
|  |  |  |  |  |  | 0 | 0 | $ | 1155723 | $ | 0 | $ | $1155723 | 1155723 |  |
| **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** | **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 | 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 | Central Funds Used for Cash Management Purposes | 55581 | 55581 | $ | 0 | $ | 0 | $ | $55581 | 55581 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | 55581 | 55581 | $ | 1155723 | $ | 0 | $ | $1211304 | 1211304 |  |

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<br> Schedule of Investments PIMCO U.S. Government and Short-Term Investments Portfolio (Cont.) December 31, 2025 (Unaudited)

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| | | | | |
|:---|:---|:---|:---|:---|
| **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  | **Short Sales, at Value - Liabilities**  |
| U.S. Government Agencies | $0 | $(19046) | $0 | $(19046) |
| **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |
| Exchange-traded or centrally cleared | $0 | $4609 | $0 | $4609 |
| **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  |
| Exchange-traded or centrally cleared | $0 | $(4383) | $0 | $(4383) |
| Total Financial Derivative Instruments | $0 | $226 | $0 | $226 |
| Totals | $55581 | $1136903 | $0 | $1192484 |
| **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended December 31, 2025.** |

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Notes to Financial Statements

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

**1. BASIS FOR CONSOLIDATION**

PIMCO All Asset: Multi-Real Fund (Cayman) Ltd (Cayman Islands exempted company), PIMCO International Portfolio Subsidiary, LLC (Delaware limited liability company), PIMCO Short Asset Portfolio Subsidiary, LLC (Delaware limited liability company) and PIMCO Short-Term Floating NAV III Subsidiary, LLC (Delaware limited liability company), (each a "Subsidiary") were incorporated as wholly owned subsidiaries acting as investment vehicles for the PIMCO All Asset: Multi-Real Fund, PIMCO International Portfolio, PIMCO Short Asset Portfolio and PIMCO Short-Term Floating NAV Portfolio III respectively, ("Consolidated Fund") in order to effect certain investments for the Consolidated Fund consistent with each Consolidated Fund's investment objectives and policies as specified in their respective offering memorandum and offering memorandum supplement. Each Consolidated Fund's investment portfolio has been consolidated and includes the portfolio holdings of the Consolidated Fund and its respective Subsidiary. The consolidated financial statements include the accounts of each Consolidated Fund and its respective Subsidiary, if any. All inter-company transactions and balances have been eliminated. A subscription agreement was entered into between the PIMCO All Asset: Multi-Real Fund, PIMCO International Portfolio, PIMCO Short Asset Portfolio and PIMCO Short-Term Floating NAV Portfolio III and their Subsidiaries comprising the entire issued share capital of the Subsidiary, with the intent that each Consolidated Fund will remain the sole shareholder and retain all rights. Under the Memorandum and Articles of Association of each Subsidiary, shares issued by each Subsidiary confer upon a shareholder the right to receive notice of, to attend and to vote at general meetings of the respective Subsidiary and shall confer upon the shareholder rights in a winding-up or repayment of capital and the right to participate in the profits or assets of the respective Subsidiaries. See the table below for details regarding the structure, incorporation and relationship as of period end of each Subsidiary to its respective Consolidated Fund.

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| | | | |
|:---|:---|:---|:---|
| **Fund Name** | **Subsidiary** | **Date of Incorporation** | **Subsidiary % of**<br> **Consolidated Fund Net Assets**<sup>†</sup> |
| PIMCO All Asset: Multi-Real Fund | PIMCO All Asset: Multi-Real Fund (Cayman) Ltd | 06/17/2020 | 13.0% |
| PIMCO International Portfolio | PIMCO International Portfolio Subsidiary, LLC | 03/20/2014 | 22.6% |
| PIMCO Short Asset Portfolio | PIMCO Short Asset Portfolio Subsidiary, LLC | 03/01/2017 | 0.1% |
| PIMCO Short-Term Floating NAV Portfolio III | PIMCO Short-Term Floating NAV III Subsidiary, LLC | 03/20/2014 | 5.6% |

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<sup>†</sup> A zero balance may reflect actual amounts rounding to less than 0.01%.

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

**(a) Investment Valuation Policies** The net asset value ("NAV") of a Portfolio'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 Portfolio 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, with respect to each Portfolio other than the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III, portfolio shares are ordinarily valued as of the close of regular trading (normally 4:00 p.m., Eastern time) ("NYSE Close"). With respect to the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III Portfolio shares are ordinarily valued as of 3:00 p.m. Eastern time, on each day that the NYSE is open. Information that becomes known to the Portfolios 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 Portfolio may calculate its NAV as of the earlier closing time or calculate its NAV as of the NYSE Close for that day. Each Portfolio 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 Portfolio may calculate its NAV as of NYSE Close for such day or such other time that each Portfolio may determine.

For purposes of calculating NAV, portfolio securities and other assets for which market quotations are readily available are valued at market value. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Portfolio 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 Portfolios will normally use pricing data for domestic equity securities received shortly after the NYSE Close (or, in the case of the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III, the earlier of 3:00 p.m. Eastern time and the NYSE Close) and do not normally take into account trading, clearances or settlements that take place after the NYSE Close (or, in the case of the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III, the earlier of 3:00 p.m. Eastern time and the NYSE Close).

A foreign (non-U.S.) equity security traded on a foreign exchange or on more than one exchange is typically valued using pricing information from the exchange considered by PIMCO to be the primary exchange. If market value pricing is used, a foreign (non-U.S.) equity security will be valued as of the close of trading on the foreign exchange, or the NYSE Close (or, in the case of the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III, the earlier of 3:00 p.m. Eastern time and the NYSE Close), if the NYSE Close (or, in the case of the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III, the earlier of 3:00 p.m. Eastern time and the NYSE Close) occurs before the end of trading on the foreign exchange.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Act. As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board has designated PIMCO as the valuation designee ("Valuation Designee") for each Fund to perform the fair value determination relating to all Fund investments. PIMCO may carry out its designated responsibilities as Valuation Designee through various teams and committees. The Valuation Designee's policies and procedures govern the Valuation Designee's selection and application of methodologies for determining and calculating the fair value of Fund 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

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Notes to Financial Statements (Cont.)

("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 Portfolio's assets that are invested in one or more open-end management investment companies (other than ETFs), a Portfolio'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 (or, in the case of the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III, the earlier of 3:00 p.m. Eastern time and 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 Portfolio 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 (or, in the case of the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III, the earlier of 3:00 p.m. Eastern time and the NYSE Close). A Portfolio 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 Portfolio'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 Portfolio'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 Portfolio 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 Portfolio'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 Portfolio may transact.

Whole loans may be fair valued using inputs that take into account borrower-or loan-level data (e.g., credit risk of the borrower) that is updated periodically throughout the life of each individual loan; any new borrower- or loan-level data received in written reports periodically by the Portfolio normally will be taken into account in calculating the NAV. The Portfolio's whole loan investments, including those originated by the Portfolio, or through an alternative lending platform generally are fair valued in accordance with procedures approved by the Board.

Fair valuation may require subjective determinations about the value of a security. While the Trust's and Valuation Designee's policies and procedures are intended to result in a calculation of a Portfolio'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 Portfolio 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 Portfolio may differ from the value that would be realized if the securities were sold. The Portfolios' use of fair valuation may also help to deter "stale price arbitrage" as discussed under the "Abusive Trading Practices" section in each Portfolio's Offering Memorandum.

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

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

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

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

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 Portfolio'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 Portfolio.

**(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.

------

Notes to Financial Statements (Cont.)

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

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

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

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

Valuation adjustments may be applied to certain securities that are solely traded on a foreign exchange to account for the market movement between the close of the foreign market and the NYSE Close (or, in the case of the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III, the earlier of 3:00 p.m. Eastern time and the NYSE Close). These securities are valued using Pricing Sources that consider the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments. Securities using these valuation adjustments are categorized as Level 2 of the fair value hierarchy. Preferred securities and other equities traded on inactive markets or valued by reference to similar instruments are also categorized as Level 2 of the fair value hierarchy.

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

Equity-linked securities are valued by referencing the last reported sale or settlement price of the linked referenced equity on the day of valuation. Foreign exchange adjustments are applied to the last reported price to convert the linked equity's trading currency to the contract's settling currency. These investments are categorized as Level 2 of the fair value hierarchy.

Equity exchange-traded options and over the counter financial derivative instruments, such as forward foreign currency contracts and options contracts derive their value from underlying asset prices, indexes, reference rates and other inputs or a combination of these factors. These contracts are normally valued on the basis of quotes obtained from a quotation reporting system, established market makers or Pricing Sources (normally determined as of the NYSE Close or, in the case of the PIMCO Short-Term Floating NAV Portfolio II and PIMCO Short-Term Floating NAV Portfolio III, the earlier of 3:00 p.m. Eastern time and the NYSE Close). Depending on the product and the terms of the transaction, financial derivative instruments can be valued by Pricing Sources using a series of techniques, including simulation pricing models. The pricing models use inputs that are observed from actively quoted markets such as quoted prices, issuer details, indexes, bid/ask spreads, interest rates, implied volatilities, yield curves, dividends and exchange rates. Financial derivative instruments that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

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

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

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

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

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

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

------

Notes to Financial Statements (Cont.)

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

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

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

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

**3. FEDERAL INCOME TAX MATTERS**

Each Portfolio 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 Portfolio 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 Portfolios' tax positions for all open tax years. As of December 31, 2025, the Portfolios 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 Portfolios file U.S. federal, state and local tax returns as required. The Portfolios' tax returns are subject to examination by relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return but which can be extended to six years in certain circumstances. Tax returns for open years have incorporated no uncertain tax positions that require a provision for income taxes.

The Portfolios may gain exposure to the commodities markets primarily through investments in swap agreements, futures and options. The PIMCO All Asset: Multi-Real Fund may also gain exposure indirectly to commodity markets by investing in the Multi-Real Fund (Cayman) Ltd., which may invest without limit in commodity-linked swap agreements and other commodity-linked derivative instruments.

One of the requirements for favorable tax treatment as a regulated investment company under the Code is that a Portfolio must derive at least 90% of its gross income from certain qualifying sources of income. The Internal Revenue Service ("IRS") has issued a revenue ruling which holds that income derived from commodity index-linked derivatives, if earned directly by a Portfolio, is not qualifying income under Subchapter M of the Code. The IRS has issued private letter rulings in which the IRS specifically concluded that income derived from an investment in a subsidiary that provides commodity-linked exposure through its investments will be qualifying income. Based on the reasoning in such rulings, a portfolio will continue to seek to gain exposure to the commodity markets primarily through investments in the Subsidiary and perhaps through commodity-linked notes.

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

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

If, during a taxable year, the Subsidiary taxable losses (and other deductible items) exceed its income and gains, the net loss will not pass through to a Portfolio as a deductible amount for income tax purposes. In the event the Subsidiary taxable gains exceed its losses and other deductible items during a taxable year, the net gain will pass through to a Portfolio as ordinary income for Federal income tax purposes.

**4. INVESTMENTS IN AFFILIATES**

Each Portfolio 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 Portfolios. A copy of each affiliate fund's shareholder report is available at the U.S. Securities and Exchange Commission website at www.sec.gov, on the Funds' website at www.pimco.com, or upon request, as applicable. The tables below show the Portfolios' transactions in and earnings from investments in the affiliated funds for the period ended December 31, 2025 (amounts in thousands<sup>†</sup>):

**Investments in PIMCO Short Asset Portfolio**

------

Notes to Financial Statements (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Name** | **Market Value<br>03/31/2025** | **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>12/31/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO All Asset: Multi-RAE PLUS Fund | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165985  | $&nbsp;&nbsp;&nbsp;&nbsp;(166352) | $&nbsp;&nbsp;&nbsp;&nbsp;367  | $&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;0  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421  | $0 |
| PIMCO All Authority: Multi-RAE PLUS Fund | 4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25667  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21740) | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18  | &nbsp;&nbsp;&nbsp;&nbsp;8163  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292  | 0 |

---

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Name** | **Market Value<br>03/31/2025** | **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>12/31/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO ABS and Short-Term Investments Portfolio | $681147 | $2926470 | $(2273100) | $(67) | $736 | $1335186 | $34868 | $0 |
| PIMCO All Asset: Multi-RAE PLUS Fund | 31 | 10808 | (10800) | 1 | 0 | 40 | 108 | 0 |
| PIMCO All Asset: Multi-Real Fund | 13351 | 1168436 | (1179600) | (53) | 0 | 2134 | 341 | 0 |
| PIMCO EM Bond and Short-Term Investments Portfolio | 19287 | 223521 | (217500) | 7 | 16 | 25331 | 1118 | 0 |
| PIMCO High Yield and Short-Term Investments Portfolio | 2263 | 37335 | (37500) | (1) | 1 | 2098 | 35 | 0 |
| PIMCO Investment Grade Credit Bond Portfolio | 19998 | 760674 | (620000) | 45 | 40 | 160757 | 2643 | 0 |
| PIMCO Long Duration Credit Bond Portfolio | 50798 | 13237137 | (13279000) | 125 | 2 | 9062 | 2749 | 0 |
| PIMCO Mortgage and Short-Term Investments Portfolio | 3546 | 1295516 | (1251500) | 13 | 7 | 47582 | 459 | 0 |
| PIMCO Municipal Portfolio | 2744 | 19374 | (17800) | 0 | 1 | 4319 | 74 | 0 |
| PIMCO Real Return Portfolio | 19005 | 218478 | (234600) | (6) | 0 | 2877 | 78 | 0 |
| PIMCO Sector Fund Series – AM | 775 | 13650 | (12100) | 1 | 1 | 2327 | 49 | 0 |
| PIMCO Sector Fund Series – H | 2089 | 27329 | (14700) | 1 | 3 | 14722 | 226 | 0 |
| PIMCO Sector Fund Series – I | 1128 | 1407249 | (1401400) | (55) | 1 | 6923 | 350 | 0 |
| PIMCO Short-Term Portfolio | 8881 | 51524 | (39700) | 0 | 9 | 20714 | 420 | 0 |
| PIMCO U.S. Government and Short-Term Investments Portfolio | 1649 | 266618 | (212700) | 6 | 8 | 55581 | 606 | 0 |
| PIMCO International Portfolio | 173246 | 651699 | (667400) | (25) | 102 | 157622 | 4887 | 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.

An affiliate includes any company in which a Portfolio owns 5% or more of the company's outstanding voting shares. The table below represents transactions in and earnings from these affiliated issuers for the period ended December 31, 2025 (amounts in thousands<sup>†</sup>, except number of shares).

**PIMCO High Yield and Short-Term Investments Portfolio** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Security Name** | &nbsp;&nbsp; **Market Value at 03/31/2025** | &nbsp;&nbsp; **Purchases**<br> **at cost** | &nbsp;&nbsp; **Proceeds from Sale** | &nbsp;&nbsp; **Net Realized Gain/(Loss)** | &nbsp;&nbsp; **Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp; **Market Value at 12/31/2025** | &nbsp;&nbsp; **Dividend Income** | &nbsp;&nbsp; **Shares Held at 12/31/2025** |
| &nbsp;&nbsp;&nbsp; Xfit Brands, Inc. | $&nbsp;&nbsp;&nbsp; 193 | $&nbsp;&nbsp;&nbsp; 0 | $&nbsp;&nbsp;&nbsp; 0 | $&nbsp;&nbsp;&nbsp; 0 | $&nbsp;&nbsp;&nbsp; (2) | $&nbsp;&nbsp;&nbsp; 191 | $&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 68040639 |

---

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

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **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 | **FAR** | Wells Fargo Bank National Association | **NGF** | Nomura Global Financial Products, Inc. |
| **BCY** | Barclays Capital, Inc. | **GLM** | Goldman Sachs Bank USA | **NOM** | Nomura Securities International, Inc. |
| **BOA** | Bank of America N.A. | **GSC** | Goldman Sachs & Co. LLC | **NXN** | Natixis New York |
| **BOO** | BoA Securities, Inc (Repo Only) | **GST** | Goldman Sachs International | **RBC** | Royal Bank of Canada |
| **BOS** | BofA Securities, Inc. | **IND** | Crédit Agricole Corporate and Investment Bank <br> S.A. | **RCY** | Royal Bank of Canada |
| **BPS** | BNP Paribas S.A. | **JML** | JP Morgan Securities Plc | **RYL** | NatWest Markets Plc |
| **BRC** | Barclays Bank PLC | **JPM** | JP Morgan Chase Bank N.A. | **SAL** | Citigroup Global Markets, Inc. |
| **BSH** | Banco Santander S.A. - New York Branch | **JPS** | J.P. Morgan Securities LLC | **SCX** | Standard Chartered Bank, London |
| **BSN** | The Bank of Nova Scotia - Toronto | **MAC** | Macquarie Bank Limited | **SOG** | Societe Generale Paris |
| **BUS** | The Bank of Nova Scotia - Toronto | **MBC** | HSBC Bank Plc | **SSB** | State Street Bank and Trust Co. |
| **CBK** | Citibank N.A. | **MEI** | Merrill Lynch International | **TDM** | TD Securities (USA) LLC |
| **CIB** | Canadian Imperial Bank of Commerce | **MSC** | Morgan Stanley & Co. LLC. | **UAG** | UBS AG Stamford |
| **CTR** | Citigroup Global Markets, Inc. | **MYC** | Morgan Stanley Capital Services LLC | **UBS** | UBS Securities LLC |
| **DEU** | Deutsche Bank Securities, Inc. | **MYI** | Morgan Stanley & Co. International PLC | **WFS** | Wells Fargo Securities, LLC |
| **DUB** | Deutsche Bank AG |  |  |  |  |
| **Currency Abbreviations:** | **Currency Abbreviations:** |  |  |  |  |
| **AUD** | Australian Dollar | **HKD** | Hong Kong Dollar | **NZD** | New Zealand Dollar |
| **BRL** | Brazilian Real | **HUF** | Hungarian Forint | **PEN** | Peruvian New Sol |
| **CAD** | Canadian Dollar | **IDR** | Indonesian Rupiah | **PHP** | Philippine Peso |
| **CHF** | Swiss Franc | **ILS** | Israeli Shekel | **PLN** | Polish Zloty |
| **CLP** | Chilean Peso | **INR** | Indian Rupee | **RON** | Romanian New Leu |
| **CNH** | Chinese Renminbi (Offshore) | **JPY** | Japanese Yen | **SEK** | Swedish Krona |
| **COP** | Colombian Peso | **KRW** | South Korean Won | **SGD** | Singapore Dollar |
| **CZK** | Czech Koruna | **KZT** | Kazakhstani Tenge | **THB** | Thai Baht |
| **DKK** | Danish Krone | **MXN** | Mexican Peso | **TRY** | Turkish New Lira |
| **EGP** | Egyptian Pound | **MYR** | Malaysian Ringgit | **TWD** | Taiwanese Dollar |
| **EUR** | Euro | **NGN** | Nigerian Naira | **USD (or $)** | United States Dollar |
| **GBP** | British Pound | **NOK** | Norwegian Krone | **ZAR** | South African Rand |
| **Exchange Abbreviations:** | **Exchange Abbreviations:** |  |  |  |  |
| **CBOE** | Chicago Board Options Exchange | **EUREX** | Eurex Exchange | **NYMEX** | New York Mercantile Exchange |
| **CBOT** | Chicago Board of Trade | **ICE** | IntercontinentalExchange® | **OTC** | Over the Counter |
| **CME** | Chicago Mercantile Exchange |  |  |  |  |
| **Index/Spread Abbreviations:** | **Index/Spread Abbreviations:** |  |  |  |  |
| **ABX.HE** | Asset-Backed Securities Index - Home Equity | **ERADXULT** | eRAFI International Large Strategy Index | **MUTKCALM** | Tokyo Overnight Average Rate |
| **AMZX** | Alerian MLP Total Return Index | **ERAEMLN** | RAE Fundamental Emerging Markets Net Total Return Index | **NDDUEAFE** | MSCI EAFE Index |
| **BBSW3M** | 3 Month Bank Bill Swap Rate | **ERAEMLT** | eRAFI Emerging Markets Strategy Index | **PIMCODB** | PIMCO Custom Commodity Basket |
| **BCOMF1NTC** | Bloomberg Commodity Index 1-Month Forward Total Return Custom Index | **ERAUSLT** | eRAFI U.S. Large Strategy Index | **RADMFENT** | RAFI Dynamic Multi-Factor Emerging Markets Equity ETF |
| **BISTREFI** | Turkish Lira Overnight Reference Rate | **EUR003M** | 3 Month EUR Swap Rate | **RADMFXNT** | RAFI Dynamic Multi-Factor Developed Ex-U.S. Index |
| **Bobl** | Bundesobligation, the German word for federal government bond | **EUR006M** | 6 Month EUR Swap Rate | **RU20INTR** | Russell 2000 Total Return Index |
| **Brent** | Brent Crude | **FEDL01** | Federal funds effective rate | **S&P 500** | Standard & Poor's 500 Index |
| **CAONREPO** | Canadian Overnight Repo Rate Average | **FHMMUSTF** | Federated Hermes US Treasury Cash Reserves Fund Yield | **SOFR** | Secured Overnight Financing Rate |
| **CDX.EM** | Credit Derivatives Index - Emerging Markets | **GOLDLNPM** | London Gold Market Fixing Ltd. PM | **SOFR30A** | Secured Overnight Financing Rate 30-Day Average |
| **CDX.HY** | Credit Derivatives Index - High Yield | **H15T1Y** | 1 Year US Treasury Yield Curve Constant Maturity Rate | **SOFRINDX** | Secured Overnight Financing Rate Index |
| **CDX.IG** | Credit Derivatives Index - Investment Grade | **IBR** | Indicador Bancario de Referencia | **SONIO** | Sterling Overnight Interbank Average Rate |
| **CMBX** | Commercial Mortgage-Backed Index | **JMABNIC5** | J.P. Morgan Custom Commodity Index | **TSFR1M** | Term SOFR 1-Month |
| **CPI** | Consumer Price Index | **JMMMUSTF** | JP Morgan Money Market US Treasury Fund Index | **TSFR3M** | Term SOFR 3-Month |
| **CPTFEMU** | Eurozone HICP ex-Tobacco Index | **MLPIREIL** | Merrill Lynch Custom Equity Index | **TSFR6M** | Term SOFR 6-Month |
| **CPURNSA** | Consumer Price All Urban Non-Seasonally Adjusted Index | **MLPIREIS** | Merrill Lynch Custom Equity Index | **UKRPI** | United Kingdom Retail Prices Index |
| **DWRTFT** | Dow Jones Wilshire REIT Total Return Index | **MSMMUSTF** | MSILF Money Market US Treasury Fund Index | **US0003M** | ICE 3-Month USD LIBOR |
| **ERADXULN** | RAE Fundamental International Large Net Total Return Index |  |  |  |  |
| **Municipal Bond or Agency Abbreviations:** | **Municipal Bond or Agency Abbreviations:** |  |  |  |  |
| **AGM** | Assured Guaranty Municipal | **CR** | Custodial Receipts | **NPFGC** | National Public Finance Guarantee Corp. |
| **BAM** | Build America Mutual Assurance | **FHA** | Federal Housing Administration | **PSF** | Public School Fund |
| **Other Abbreviations:** | **Other Abbreviations:** |  |  |  |  |
| **ABS** | Asset-Backed Security | **EBITDA** | Earnings before Interest, Taxes, Depreciation and Amoritization | **PRIBOR** | Prague Interbank Offered Rate |
| **ALT** | Alternate Loan Trust | **EURIBOR** | Euro Interbank Offered Rate | **RBOB** | Reformulated Blendstock for Oxygenate Blending |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BABs** | Build America Bonds | **JIBAR** | Johannesburg Interbank Agreed Rate | **REIT** | Real Estate Investment Trust |
| **BBR** | Bank Bill Rate | **JSC** | Joint Stock Company | **REMIC** | Real Estate Mortgage Investment Conduit |
| **BBSW** | Bank Bill Swap Reference Rate | **Lunar** | Monthly payment based on 28-day periods. One year consists of 13 periods. | **TBA** | To-Be-Announced |
| **BRL-CDI** | Brazil Interbank Deposit Rate | **MSCI** | Morgan Stanley Capital International | **TBD** | To-Be-Determined |
| **BTP** | Buoni del Tesoro Poliennali "Long-term Treasury Bond" | **OAT** | Obligations Assimilables du Trésor | **TBD%** | Interest rate to be determined when loan <br> settles or at the time of funding |
| **CHILIBOR** | Chile Interbank Offered Rate | **OIS** | Overnight Index Swap | **TIIE** | Tasa de Interés Interbancaria de Equilibrio <br> "Equilibrium Interbank Interest Rate" |
| **CLO** | Collateralized Loan Obligation | **oz.** | Ounce | **WIBOR** | Warsaw Interbank Offered Rate |
| **CMBS** | Collateralized Mortgage-Backed Security | **PIK** | Payment-in-Kind | **WTI** | West Texas Intermediate |
| **DAC** | Designated Activity Company |  |  |  |  |

---

## 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 Funds

- **b. Investment Company Act file number:** 811-05028

- **c. CIK number of Registrant:** 0000810893

- **d. LEI of Registrant:** 5493003B5Y5GR0Y25Y76

- **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 Mortgage and Short-Term Investments Portfolio

- **b. EDGAR series identifier (if any):** S000009853

- **c. LEI of Series:** GQTZH3G16O0ZDGTIUS87

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $8857424560.54

**Total Liabilities:** $7670130526.73

**Net Assets:** $1187294033.81

**Cash Not Reported:** $4359778.49

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 27199.899400 | **1-Year:** 68704.457700 | **5-Year:** 956897.178500 | **10-Year:** 144986.275400 | **30-Year:** 2055.217200

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

- **3-Month:** 650.261400 | **1-Year:** 4657.610000 | **5-Year:** 19801.070500 | **10-Year:** 3765.753800 | **30-Year:** 73.459700

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000027281 | 1.48%                | 0.97%                | -0.08%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2500742.70              | $12327335.58                               |
| Month 2  | $438417.93               | $7796846.74                                |
| Month 3  | $-3028786.36             | $-11556076.16                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FNMA PASS THRU POOLS                                              | FNMA POOL 031848 FN 08/26 FLOATING VAR                 | CUSIP: 31361HL57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         80 | PA      | $79.66         | 0.00%             | 2026-08-01      | Floating      | 4.17%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02976 FG 06/37 FIXED 5.5            | CUSIP: 3128M4T94<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11159 | PA      | $11686.86      | 0.00%             | 2037-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2006-3                                     | COUNTRYWIDE HOME LOANS CWHL 2006 3 3A2                 | CUSIP: 126694YR3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      15232 | PA      | $5838.01       | 0.00%             | 2036-02-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03780 FG 01/38 FIXED 5.5            | CUSIP: 3128M5Q94<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        259 | PA      | $270.63        | 0.00%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01507 FG 12/32 FIXED 7              | CUSIP: 31283HU86<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8370 | PA      | $8803.94       | 0.00%             | 2032-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2015-58                                         | FANNIE MAE FNR 2015 58 AI                              | CUSIP: 3136APU75<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     283151 | PA      | $16256.38      | 0.00%             | 2055-08-25      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 452469 FN 11/28 FIXED 6.5                    | CUSIP: 31380WT20<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        159 | PA      | $165.48        | 0.00%             | 2028-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL9982 FN 10/45 FIXED VAR                    | CUSIP: 3138ESCU0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     185956 | PA      | $191326.43     | 0.02%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QB9007 FR 02/51 FIXED 1.5            | CUSIP: 3133AGAG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18573 | PA      | $14420.12      | 0.00%             | 2051-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 777125 FN 04/34 FIXED 5.5                    | CUSIP: 31404SLE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1783 | PA      | $1808.97       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 509444 GN 12/29 FIXED 8.5                    | CUSIP: 36211C5D0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        268 | PA      | $269.03        | 0.00%             | 2029-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 544860 FN 09/34 FLOATING VAR                 | CUSIP: 31385HJD5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        892 | PA      | $887.21        | 0.00%             | 2034-09-01      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| ENCORE CREDIT RECEIVABLES TR 2005-1                               | ENCORE CREDIT RECEIVABLES TRUS ECR 2005 1 M2           | CUSIP: 126673VQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1561888 | PA      | $1539335.11    | 0.13%             | 2035-07-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZS8678 FR 12/32 FIXED 2.5            | CUSIP: 3132A9UB1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     974400 | PA      | $940101.77     | 0.08%             | 2032-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A32162 FG 03/35 FIXED 5              | CUSIP: 31297MMK1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      43455 | PA      | $43520.36      | 0.00%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 889883 FN 03/38 FIXED VAR                    | CUSIP: 31410KUG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8300 | PA      | $8658.24       | 0.00%             | 2038-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 2 SINGLE FAMILY MORTGAGE                | CUSIP: 01F020612<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -121300000 | PA      | $-98081939.10  | -8.26%            | 2055-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 657986 GN 10/36 FIXED 6.5                    | CUSIP: 36294R6X2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4168 | PA      | $4367.90       | 0.00%             | 2036-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BF2407 G2 04/48 FIXED 4                   | CUSIP: 3617G8U84<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     175557 | PA      | $166885.96     | 0.01%             | 2048-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 005307 G2 02/42 FIXED 5                   | CUSIP: 36202F3Q7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      88236 | PA      | $90835.47      | 0.01%             | 2042-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01967 FG 11/30 FIXED 5.5            | CUSIP: 3128LXFG0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2334 | PA      | $2375.64       | 0.00%             | 2030-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZT1339 FR 09/32 FIXED 3.5            | CUSIP: 3132ADPY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9199 | PA      | $9124.80       | 0.00%             | 2032-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4989                                           | FREDDIE MAC FHR 4989 FB                                | CUSIP: 3137FUKQ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1904271 | PA      | $1872667.41    | 0.16%             | 2040-10-15      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 903822 FN 12/36 FIXED 6.5                    | CUSIP: 31411CD32<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29165 | PA      | $30275.13      | 0.00%             | 2036-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 847996 FN 11/35 FLOATING VAR                 | CUSIP: 31408DC93<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3527 | PA      | $3621.16       | 0.00%             | 2035-11-01      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 482771 GN 10/28 FIXED 6.5                    | CUSIP: 36209VJQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         34 | PA      | $34.44         | 0.00%             | 2028-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AM8692 GN 06/45 FIXED 2.5                    | CUSIP: 36185BUR5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      73518 | PA      | $63729.22      | 0.01%             | 2045-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MTG 2142                                              | FREDDIE MAC FHR 2142 Z                                 | CUSIP: 3133TKDP2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6507 | PA      | $6575.22       | 0.00%             | 2029-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 931952 FN 01/37 FIXED 6.5                    | CUSIP: 31412QL98<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1989 | PA      | $2101.78       | 0.00%             | 2037-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735642 FN 08/42 FLOATING VAR                 | CUSIP: 31402RHT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     104768 | PA      | $104889.97     | 0.01%             | 2042-08-01      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080555 G2 11/31 FLOATING VAR              | CUSIP: 36225CTM8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      93265 | PA      | $93729.78      | 0.01%             | 2031-11-20      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080365 G2 01/30 FLOATING VAR              | CUSIP: 36225CMP8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        259 | PA      | $259.98        | 0.00%             | 2030-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 5034                                           | FREDDIE MAC FHR 5034 MI                                | CUSIP: 3137F6K55<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5469196 | PA      | $735620.57     | 0.06%             | 2050-11-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 776974 FN 04/34 FIXED 5.5                    | CUSIP: 31404SFP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21595 | PA      | $22205.21      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZN1084 FR 11/33 FIXED 3.5            | CUSIP: 3131Y7FZ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10265 | PA      | $10157.81      | 0.00%             | 2033-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02427 FG 12/36 FIXED 5.5            | CUSIP: 3128M4A45<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4121 | PA      | $4315.37       | 0.00%             | 2036-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA7704 G2 11/51 FIXED 2                   | CUSIP: 36179WRZ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     435000 | PA      | $360678.19     | 0.03%             | 2051-11-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2002-AR17                                       | WAMU MORTGAGE PASS THROUGH CER WAMU 2002 AR17 1A       | CUSIP: 929227XB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      11535 | PA      | $11190.68      | 0.00%             | 2042-11-25      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ALT-A TRUST 2006-6                                   | BEAR STEARNS ALT A TRUST BALTA 2006 6 2A1              | CUSIP: 073868AM3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     142802 | PA      | $60383.40      | 0.01%             | 2036-11-25      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2001-56                                                | FANNIE MAE FNR 2001 56 KZ                              | CUSIP: 313921FR4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      70898 | PA      | $73599.04      | 0.01%             | 2031-10-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIEMAIE WHOLE LOAN 2002-W2                                     | FANNIEMAE WHOLE LOAN FNW 2002 W2 AV1                   | CUSIP: 31392CEQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        359 | PA      | $352.46        | 0.00%             | 2032-06-25      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04613 FG 10/37 FIXED 6              | CUSIP: 3128M6N61<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1536 | PA      | $1621.77       | 0.00%             | 2037-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2014-47                                         | FANNIE MAE FNR 2014 47 BI                              | CUSIP: 3136AKTL7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     551424 | PA      | $29541.00      | 0.00%             | 2054-08-25      | Floating      | 1.75%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782280 GN 02/38 FIXED 5.5                    | CUSIP: 36241KQ92<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5116 | PA      | $5374.22       | 0.00%             | 2038-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783609 GN 10/40 FIXED 4.5                    | CUSIP: 3622A2AJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14580 | PA      | $14603.05      | 0.00%             | 2040-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL T62071 FG 08/46 FIXED 3              | CUSIP: 3128S3JQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     634916 | PA      | $566564.84     | 0.05%             | 2046-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 772029 GN 07/41 FIXED 4                      | CUSIP: 36176PPN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29450 | PA      | $28586.77      | 0.00%             | 2041-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02236 FG 06/36 FIXED 5.5            | CUSIP: 3128LXPV6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        136 | PA      | $142.08        | 0.00%             | 2036-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENNIS ECONOMIC DEVELOPMENT CORPORATION INC                        | ENNIS TX ECON DEV CORP ENNDEV 08/34 ZEROCPNOID 0       | CUSIP: 293430AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    6860000 | PA      | $3890841.08    | 0.33%             | 2034-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MB0309 G2 04/55 FIXED 6                   | CUSIP: 3618N5KX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     599941 | PA      | $612629.97     | 0.05%             | 2055-04-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781920 GN 05/35 FIXED 5.5                    | CUSIP: 36241KDZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2091 | PA      | $2166.82       | 0.00%             | 2035-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 776973 FN 04/34 FIXED 5.5                    | CUSIP: 31404SFN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     125184 | PA      | $128681.38     | 0.01%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 691570 GN 08/38 FIXED 6.5                    | CUSIP: 36296HJP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7248 | PA      | $7623.86       | 0.00%             | 2038-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AD0361 FN 09/39 FIXED VAR                    | CUSIP: 31418MMK5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      66365 | PA      | $70227.37      | 0.01%             | 2039-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2030                                                  | FREDDIE MAC FHR 2030 F                                 | CUSIP: 3133TCXU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        220 | PA      | $220.03        | 0.00%             | 2028-02-15      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS4009 FN 12/39 FIXED 3.5                    | CUSIP: 3138WDN31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1164238 | PA      | $1125829.35    | 0.09%             | 2039-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03052 FG 06/37 FIXED 5.5            | CUSIP: 3128M4WM1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2214 | PA      | $2318.39       | 0.00%             | 2037-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 830817 FN 10/35 FIXED 6                      | CUSIP: 31407HAS5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13769 | PA      | $14318.04      | 0.00%             | 2035-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 664543 GN 01/38 FIXED 6.5                    | CUSIP: 36295AHU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1474 | PA      | $1545.47       | 0.00%             | 2038-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BD5435 G2 12/47 FIXED 3.5                 | CUSIP: 3617BMBC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     484185 | PA      | $446972.34     | 0.04%             | 2047-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2017-H23                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2017 H23 MA         | CUSIP: 38375US27<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2958336 | PA      | $2899145.15    | 0.24%             | 2067-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 005261 G2 12/41 FIXED 5                   | CUSIP: 36202FZ25<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     565693 | PA      | $581500.81     | 0.05%             | 2041-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 903132 FN 10/36 FIXED 6                      | CUSIP: 31411BLM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3565 | PA      | $3761.06       | 0.00%             | 2036-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 770170 FN 03/34 FIXED 6                      | CUSIP: 31404JT39<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3816 | PA      | $3917.11       | 0.00%             | 2034-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 831618 FN 06/36 FIXED 6.5                    | CUSIP: 31407H4B9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16843 | PA      | $17886.38      | 0.00%             | 2036-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 786513 FH 07/28 FLOATING VAR         | CUSIP: 31295KGW8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3880 | PA      | $3914.72       | 0.00%             | 2028-07-01      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 508450 GN 02/31 FIXED 7.5                    | CUSIP: 36211BZP2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        496 | PA      | $505.32        | 0.00%             | 2031-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA5700 FN 05/55 FIXED 5.5                    | CUSIP: 31418FKN6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     944192 | PA      | $958120.78     | 0.08%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 495830 GN 01/29 FIXED 6.5                    | CUSIP: 36210LY31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1592 | PA      | $1651.95       | 0.00%             | 2029-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AX9643 FN 04/30 FIXED 2                      | CUSIP: 3138YBWD1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      48861 | PA      | $47180.70      | 0.00%             | 2030-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BK3399 G2 11/48 FIXED 4.5                 | CUSIP: 3617J3X48<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17372 | PA      | $16959.29      | 0.00%             | 2048-11-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS0209 FN 08/43 FIXED 3.5                    | CUSIP: 3138W9GT1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        532 | PA      | $507.32        | 0.00%             | 2043-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 688098 GN 11/38 FIXED 6                      | CUSIP: 36296DNP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2954 | PA      | $3069.55       | 0.00%             | 2038-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 068530 FN 09/27 FLOATING VAR                 | CUSIP: 31362REB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         35 | PA      | $34.72         | 0.00%             | 2027-09-01      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 254478 FN 10/32 FIXED 6                      | CUSIP: 31371KUB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3589 | PA      | $3712.39       | 0.00%             | 2032-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782729 GN 06/39 FIXED 6                      | CUSIP: 36241LA63<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        868 | PA      | $917.08        | 0.00%             | 2039-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 452875 FN 12/28 FIXED 6                      | CUSIP: 31380XCL4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4684 | PA      | $4883.40       | 0.00%             | 2028-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA5830 FN 09/40 FIXED 5.5                    | CUSIP: 31418FPQ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     957290 | PA      | $981974.18     | 0.08%             | 2040-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782350 GN 06/38 FIXED 5.5                    | CUSIP: 36241KTF5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38257 | PA      | $40091.78      | 0.00%             | 2038-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 535415 FN 05/30 FLOATING VAR                 | CUSIP: 31384VYL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5008 | PA      | $5070.86       | 0.00%             | 2030-05-01      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782964 GN 01/40 FIXED 6                      | CUSIP: 36241LJH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6823 | PA      | $7207.15       | 0.00%             | 2040-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CB3277 FN 04/52 FIXED 3                      | CUSIP: 3140QNUB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2908147 | PA      | $2577892.69    | 0.22%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 005282 G2 01/42 FIXED 5                   | CUSIP: 36202F2P0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1135602 | PA      | $1169069.61    | 0.10%             | 2042-01-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 555203 FN 09/32 FIXED VAR                    | CUSIP: 31385WX87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2821 | PA      | $2905.41       | 0.00%             | 2032-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MELLON RESIDENTIAL FUND CORP 2000-TBC2                            | MELLON RESIDENTIAL FUNDING COR MRFC 2000 TBC2 A1       | CUSIP: 585525ED6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      38925 | PA      | $38319.30      | 0.00%             | 2030-06-15      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 682911 GN 12/40 FIXED 6                      | CUSIP: 36295WVC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      49607 | PA      | $51213.04      | 0.00%             | 2040-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323919 FN 08/29 FLOATING VAR                 | CUSIP: 31374TYQ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2935 | PA      | $2974.96       | 0.00%             | 2029-08-01      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03117 FG 11/36 FIXED 6.5            | CUSIP: 3128M4YN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      41611 | PA      | $43506.74      | 0.00%             | 2036-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 776273 FN 05/34 FIXED 5.5                    | CUSIP: 31404RMW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6634 | PA      | $6730.04       | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A24611 FG 06/34 FIXED 4.5            | CUSIP: 31297CDQ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        406 | PA      | $403.78        | 0.00%             | 2034-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 831646 FN 08/26 FIXED 6.5                    | CUSIP: 31407H5F9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         13 | PA      | $13.56         | 0.00%             | 2026-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 479449 GN 07/30 FIXED 8.5                    | CUSIP: 36209RTE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3645 | PA      | $3691.17       | 0.00%             | 2030-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781987 GN 10/35 FIXED 5.5                    | CUSIP: 36241KF45<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16774 | PA      | $17465.44      | 0.00%             | 2035-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA2961 G2 07/45 FIXED 3.5                 | CUSIP: 36179RJE0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     697862 | PA      | $650541.74     | 0.05%             | 2045-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZK8982 FR 10/32 FIXED 2.5            | CUSIP: 3131XC6T9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6864 | PA      | $6630.14       | 0.00%             | 2032-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BE1642 G2 01/48 FIXED 4                   | CUSIP: 3617BUZF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1340106 | PA      | $1308698.91    | 0.11%             | 2048-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 809177 FN 01/35 FLOATING VAR                 | CUSIP: 31406F6N6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5003 | PA      | $5077.72       | 0.00%             | 2035-01-01      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 668342 FN 12/32 FIXED 6                      | CUSIP: 31391JP38<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12970 | PA      | $13313.24      | 0.00%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 617710 GN 09/37 FIXED 6.5                    | CUSIP: 36290UGT7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4049 | PA      | $4226.41       | 0.00%             | 2037-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 490758 FN 03/29 FIXED 6.5                    | CUSIP: 31382SE72<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        983 | PA      | $1020.75       | 0.00%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06872 FG 09/39 FIXED 5.5            | CUSIP: 3128M86H2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     107154 | PA      | $112124.75     | 0.01%             | 2039-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSEET MTGE INV INC 2002-AR3                           | STRUCTURED ASSET MORTGAGE INVE SAMI 2002 AR3 A1        | CUSIP: 86358HNX3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      81950 | PA      | $78020.84      | 0.01%             | 2032-09-19      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 832802 FN 09/35 FLOATING VAR                 | CUSIP: 31407KGK9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1140 | PA      | $1163.55       | 0.00%             | 2035-09-01      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06031 FG 03/40 FIXED 5.5            | CUSIP: 3128M8A87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     100617 | PA      | $105070.05     | 0.01%             | 2040-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ALT-A TRUST 2005-4                                   | BEAR STEARNS ALT A TRUST BALTA 2005 4 23A1             | CUSIP: 07386HSY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      66230 | PA      | $63581.89      | 0.01%             | 2035-05-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MTGE LOAN TRUST 2005-AR11                            | INDYMAC INDX MORTGAGE LOAN TRU INDX 2005 AR11 A6       | CUSIP: 45660LQL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     359742 | PA      | $265501.32     | 0.02%             | 2035-08-25      | Floating      | 3.66%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080319 G2 09/29 FLOATING VAR              | CUSIP: 36225CK96<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2348 | PA      | $2361.29       | 0.00%             | 2029-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 807280 FN 10/34 FIXED 6.5                    | CUSIP: 31406D2M7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20113 | PA      | $21163.04      | 0.00%             | 2034-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AZ3519 G2 06/47 FIXED 3.5                 | CUSIP: 36197F4C4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     572688 | PA      | $528675.39     | 0.04%             | 2047-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A46767 FG 09/35 FIXED 5.5            | CUSIP: 3128K7QU5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4073 | PA      | $4237.67       | 0.00%             | 2035-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA5097 FN 07/43 FIXED 4.5                    | CUSIP: 31418EUX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1498379 | PA      | $1502034.22    | 0.13%             | 2043-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A72749 FG 02/38 FIXED 5.5            | CUSIP: 3128L6BS7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     297917 | PA      | $311373.77     | 0.03%             | 2038-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ALT-A TRUST 2006-6                                   | BEAR STEARNS ALT A TRUST BALTA 2006 6 32A1             | CUSIP: 073868BE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     384967 | PA      | $193360.26     | 0.02%             | 2036-11-25      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003850 G2 05/36 FIXED 5                   | CUSIP: 36202EH36<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        820 | PA      | $841.43        | 0.00%             | 2036-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA3335 FN 04/38 FIXED 3                      | CUSIP: 31418CV50<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      83638 | PA      | $79242.16      | 0.01%             | 2038-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC STRUCTURED PASS THRU SEC T-34                               | FHLMC STRUCTURED PASS THROUGH FSPC T 34 A1V            | CUSIP: 3133985T2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17170 | PA      | $17026.28      | 0.00%             | 2031-07-25      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 624207 GN 01/34 FIXED 5.5                    | CUSIP: 36291CNY7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3116 | PA      | $3134.61       | 0.00%             | 2034-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 605561 GN 11/34 FIXED 5.5                    | CUSIP: 36200NWW7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      27267 | PA      | $27456.66      | 0.00%             | 2034-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A93652 FG 09/40 FIXED 5              | CUSIP: 312942BV6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        686 | PA      | $706.92        | 0.00%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 724182 GN 08/39 FIXED 5.5                    | CUSIP: 3620AARB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28947 | PA      | $30161.77      | 0.00%             | 2039-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 389785 GN 12/32 FIXED 5.5                    | CUSIP: 36205F6W8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10490 | PA      | $10590.51      | 0.00%             | 2032-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MORTGAGE LOAN TR 2005-AR31                           | INDYMAC INDX MORTGAGE LOAN TRU INDX 2005 AR31 1A1      | CUSIP: 45660LV97<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        498 | PA      | $449.12        | 0.00%             | 2036-01-25      | Floating      | 3.53%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MTGE ACQUIS CORP 2007-CH3                               | JP MORGAN MORTGAGE ACQUISITION JPMAC 2007 CH3 A5       | CUSIP: 46630XAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      55838 | PA      | $55543.62      | 0.00%             | 2037-03-25      | Floating      | 4.11%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2016-64                                         | FANNIE MAE FNR 2016 64 IA                              | CUSIP: 3136ATUB8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1917741 | PA      | $215230.42     | 0.02%             | 2046-05-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 4.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F042616<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |  -44100000 | PA      | $-43058205.86  | -3.63%            | 2055-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080096 G2 07/27 FLOATING VAR              | CUSIP: 36225CDA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        380 | PA      | $380.54        | 0.00%             | 2027-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS  MTGE SEC INC 1997-6                                 | BEAR STEARNS MORTGAGE SECURITI BSMSI 1997 6 3A         | CUSIP: 073914WC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         50 | PA      | $49.46         | 0.00%             | 2030-06-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM5989 FN 11/48 FLOATING VAR                 | CUSIP: 3140JAUP1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     408655 | PA      | $425962.44     | 0.04%             | 2048-11-01      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2003-AR9                                        | WAMU MORTGAGE PASS THROUGH CER WAMU 2003 AR9 1A6       | CUSIP: 92922FBV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      37566 | PA      | $37007.98      | 0.00%             | 2033-09-25      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 606323 GN 06/36 FIXED 5.5                    | CUSIP: 36201XSL3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10551 | PA      | $10986.83      | 0.00%             | 2036-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BE9832 G2 06/48 FIXED 4.5                 | CUSIP: 3617G44R0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      57230 | PA      | $55849.89      | 0.00%             | 2048-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080651 G2 11/32 FLOATING VAR              | CUSIP: 36225CWM4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4172 | PA      | $4262.94       | 0.00%             | 2032-11-20      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RB5180 FR 08/42 FIXED 3              | CUSIP: 3133KYXH7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6669 | PA      | $6228.88       | 0.00%             | 2042-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA4256 FN 02/51 FIXED 2.5                    | CUSIP: 31418DWS7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2306740 | PA      | $1970540.33    | 0.17%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| OPTION ONE MORTGAGE LOAN TRUST 2005-4                             | OPTION ONE MORTGAGE LOAN TRUST OOMLT 2005 4 M2         | CUSIP: 68389FJJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     148464 | PA      | $144595.23     | 0.01%             | 2035-11-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0250 FN 11/39 FIXED 5                      | CUSIP: 31417YH42<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14847 | PA      | $14888.53      | 0.00%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 452035 FN 11/28 FIXED 5.5                    | CUSIP: 31380WEG5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1400 | PA      | $1442.69       | 0.00%             | 2028-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2002-53                                                | FANNIE MAE FNR 2002 53 FK                              | CUSIP: 31392EHN3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        145 | PA      | $144.17        | 0.00%             | 2032-04-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 922339 FN 02/37 FIXED 6.5                    | CUSIP: 31412DV88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18439 | PA      | $19360.93      | 0.00%             | 2037-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTGE INV 1998-2                                  | STRUCTURED ASSET MORTGAGE INVE SAMI 1998 2 A5          | CUSIP: 073914F65<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      48745 | PA      | $8.10          | 0.00%             | 2030-05-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 777438 FN 04/34 FIXED 5.5                    | CUSIP: 31404SV77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1719 | PA      | $1744.25       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ADJUSTABLE RT MTGE LN 2005-17                          | STRUCTURED ADJUSTABLE RATE MOR SARM 2005 17 3A1        | CUSIP: 863579VM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       4042 | PA      | $3497.90       | 0.00%             | 2035-08-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS9731 FN 10/28 FIXED 5.61                   | CUSIP: 3140LLY54<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     491000 | PA      | $496600.64     | 0.04%             | 2028-10-01      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BF0169 FN 01/57 FIXED 3.5                    | CUSIP: 3140FXFK3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5975629 | PA      | $5535615.19    | 0.47%             | 2057-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 461975 GN 12/30 FIXED 8.5                    | CUSIP: 36208VFQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3419 | PA      | $3506.12       | 0.00%             | 2030-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS8910 FN 03/31 FIXED 4.99                   | CUSIP: 3140LK3U5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1470589 | PA      | $1511212.98    | 0.13%             | 2031-03-01      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AA4844 GN 06/42 FIXED 3.5                    | CUSIP: 36178CLZ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      49468 | PA      | $46192.05      | 0.00%             | 2042-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 700778 GN 10/38 FIXED 5.5                    | CUSIP: 36296TQ71<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2611 | PA      | $2684.80       | 0.00%             | 2038-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SMALL BUSINESS ADMIN PART CERTS 2008-20D                          | SMALL BUSINESS ADMINISTRATION SBAP 2008 20D 1          | CUSIP: 83162CRS4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     210054 | PA      | $212308.30     | 0.02%             | 2028-04-01      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06091 FG 05/40 FIXED 5.5            | CUSIP: 3128M8C44<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22608 | PA      | $23608.74      | 0.00%             | 2040-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 686776 GN 06/38 FIXED 6.5                    | CUSIP: 36296B6M9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9089 | PA      | $9578.81       | 0.00%             | 2038-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080418 G2 06/30 FLOATING VAR              | CUSIP: 36225CPC4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      67218 | PA      | $67394.37      | 0.01%             | 2030-06-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 779242 FN 06/34 FIXED 5.5                    | CUSIP: 31404UWB2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23412 | PA      | $23755.11      | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AI1821 FN 05/41 FIXED 4.5                    | CUSIP: 3138AFAX8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23377 | PA      | $23370.32      | 0.00%             | 2041-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AC1241 FN 07/39 FIXED 5                      | CUSIP: 31417KLX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29790 | PA      | $30649.97      | 0.00%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 545051 FN 09/29 FIXED VAR                    | CUSIP: 31385HQC9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         89 | PA      | $91.18         | 0.00%             | 2029-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4463                                           | FREDDIE MAC FHR 4463 IO                                | CUSIP: 3137BHGF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     170714 | PA      | $9318.47       | 0.00%             | 2038-02-15      | Floating      | 1.96%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRIPS 326                                            | FREDDIEMAC STRIP FHS 326 F2                            | CUSIP: 3132HT3R5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     771721 | PA      | $769606.10     | 0.06%             | 2044-03-15      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RB5173 FR 08/42 FIXED 3              | CUSIP: 3133KYXA2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     200591 | PA      | $187072.52     | 0.02%             | 2042-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 755327 FN 12/33 FIXED 6                      | CUSIP: 31403RD88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3508 | PA      | $3601.67       | 0.00%             | 2033-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A37900 FG 09/35 FIXED 4.5            | CUSIP: 31297TX57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5979 | PA      | $6040.41       | 0.00%             | 2035-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL0178 FN 03/30 FIXED VAR                    | CUSIP: 3138EGFU3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      85573 | PA      | $85849.67      | 0.01%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04788 FG 09/38 FIXED 5.5            | CUSIP: 3128M6UM8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      45502 | PA      | $47488.21      | 0.00%             | 2038-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 662759 GN 12/36 FIXED 6.5                    | CUSIP: 36294XJC1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11439 | PA      | $12031.24      | 0.00%             | 2036-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ALT-A TRUST 2006-6                                   | BEAR STEARNS ALT A TRUST BALTA 2006 6 31A1             | CUSIP: 073868AV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     276916 | PA      | $152284.66     | 0.01%             | 2036-11-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2006-OA12                           | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 OA12 A1C     | CUSIP: 23243AAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5455431 | PA      | $4953612.34    | 0.42%             | 2046-09-20      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 555417 FN 05/33 FIXED VAR                    | CUSIP: 31385XAS6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18379 | PA      | $19040.39      | 0.00%             | 2033-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A92487 FG 06/40 FIXED 5              | CUSIP: 312940XQ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      34678 | PA      | $35689.72      | 0.00%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BH5368 FN 08/47 FIXED 3.5                    | CUSIP: 3140GT6E5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     523681 | PA      | $495584.03     | 0.04%             | 2047-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783076 GN 09/39 FIXED 6                      | CUSIP: 36241LMZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        614 | PA      | $647.81        | 0.00%             | 2039-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 821365 FN 05/35 FLOATING VAR                 | CUSIP: 31406VQS8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21096 | PA      | $21617.36      | 0.00%             | 2035-05-01      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 780895 FN 05/34 FIXED 5.5                    | CUSIP: 31404WRQ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14505 | PA      | $14767.41      | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 701993 GN 02/39 FIXED 4.5                    | CUSIP: 36296U3A6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1119 | PA      | $1123.59       | 0.00%             | 2039-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04219 FG 04/38 FIXED 5.5            | CUSIP: 3128M6AU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     270734 | PA      | $282714.54     | 0.02%             | 2038-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 931950 FN 01/37 FIXED 6.5                    | CUSIP: 31412QL72<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7342 | PA      | $7793.86       | 0.00%             | 2037-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 481483 FN 02/29 FIXED 6                      | CUSIP: 31382F2Q1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        162 | PA      | $166.43        | 0.00%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AT9182 FN 07/43 FIXED 4                      | CUSIP: 3138WXFY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     420647 | PA      | $411001.75     | 0.03%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080092 G2 07/27 FLOATING VAR              | CUSIP: 36225CC61<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        432 | PA      | $432.46        | 0.00%             | 2027-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| HOMEBANC MORTGAGE TRUST 2004-1                                    | HOMEBANC MORTGAGE TRUST HMBT 2004 1 2A                 | CUSIP: 43739EAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      43175 | PA      | $42466.83      | 0.00%             | 2029-08-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BF4034 G2 02/48 FIXED 3.5                 | CUSIP: 3617GAPT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     753086 | PA      | $678728.82     | 0.06%             | 2048-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 773696 FN 04/34 FIXED 5.5                    | CUSIP: 31404NRR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6606 | PA      | $6700.05       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775217 FN 05/34 FIXED 5.5                    | CUSIP: 31404QG29<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18494 | PA      | $18764.61      | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MORTGAGE LOAN TR 2005-AR31                           | INDYMAC INDX MORTGAGE LOAN TRU INDX 2005 AR31 4A1      | CUSIP: 45660LW70<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      98860 | PA      | $89564.04      | 0.01%             | 2036-01-25      | Floating      | 3.27%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRIPS 345                                            | FREDDIEMAC STRIP FHS 345 C13                           | CUSIP: 31325VRC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1803221 | PA      | $269393.09     | 0.02%             | 2045-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA0698 G2 01/43 FIXED 3                   | CUSIP: 36179MX39<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2105866 | PA      | $1951414.84    | 0.16%             | 2043-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 713866 GN 09/39 FIXED 5                      | CUSIP: 36297KCB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4668 | PA      | $4748.01       | 0.00%             | 2039-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC-2053                                                  | FREDDIE MAC FHR 2053 Z                                 | CUSIP: 3133TDE69<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8709 | PA      | $8800.47       | 0.00%             | 2028-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 774477 FN 04/34 FIXED 5.5                    | CUSIP: 31404PM24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10388 | PA      | $10539.07      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782425 GN 10/38 FIXED 5.5                    | CUSIP: 36241KVS4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24641 | PA      | $25832.67      | 0.00%             | 2038-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080686 G2 04/33 FLOATING VAR              | CUSIP: 36225CXQ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     329543 | PA      | $335421.66     | 0.03%             | 2033-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A97218 FG 03/41 FIXED 5              | CUSIP: 312946AT3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     252428 | PA      | $260025.74     | 0.02%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BP6203 GN 11/49 FIXED 3.5                    | CUSIP: 3617LC3L0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     497187 | PA      | $454843.44     | 0.04%             | 2049-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 758789 FN 12/33 FIXED 5.5                    | CUSIP: 31403U7A3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4800 | PA      | $4883.75       | 0.00%             | 2033-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 313968 FN 12/27 FLOATING VAR                 | CUSIP: 31374GW52<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2125 | PA      | $2147.64       | 0.00%             | 2027-12-01      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 634253 FN 03/32 FIXED 6.5                    | CUSIP: 31389STJ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6557 | PA      | $6805.74       | 0.00%             | 2032-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 690910 GN 06/38 FIXED 5.5                    | CUSIP: 36296GR78<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10139 | PA      | $10460.77      | 0.00%             | 2038-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AH4551 FN 02/26 FIXED 3.5                    | CUSIP: 3138A6BV1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2038 | PA      | $2032.56       | 0.00%             | 2026-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 799712 FN 11/34 FIXED 5.5                    | CUSIP: 31405UN54<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13985 | PA      | $14187.35      | 0.00%             | 2034-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AB9465 FN 05/43 FIXED 3.5                    | CUSIP: 31417GQT6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6836 | PA      | $6522.51       | 0.00%             | 2043-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 750518 FN 12/33 FIXED 5.5                    | CUSIP: 31403JYP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6314 | PA      | $6405.01       | 0.00%             | 2033-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2006-118                                               | FANNIE MAE FNR 2006 118 A2                             | CUSIP: 31396L4T4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     532769 | PA      | $523561.01     | 0.04%             | 2036-12-25      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 886048 FN 07/36 FIXED 6                      | CUSIP: 31410DL57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12153 | PA      | $12822.18      | 0.00%             | 2036-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C01578 FG 04/33 FIXED 6.5            | CUSIP: 31292HXF6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1034 | PA      | $1074.46       | 0.00%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008927 G2 07/26 FLOATING VAR              | CUSIP: 36202K4L6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        342 | PA      | $343.24        | 0.00%             | 2026-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| KKR CLO LTD 21                                                    | KKR FINANCIAL CLO LTD KKR 21 A 144A                    | CUSIP: 48252KAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     220760 | PA      | $220875.62     | 0.02%             | 2031-04-15      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 778067 FN 04/34 FIXED 5.5                    | CUSIP: 31404TMQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3529 | PA      | $3657.06       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AX4793 G2 03/47 FIXED 3.5                 | CUSIP: 36196GKE1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     149681 | PA      | $138177.24     | 0.01%             | 2047-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 783646 FN 06/34 FIXED 5.5                    | CUSIP: 31405ATB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3746 | PA      | $3898.74       | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GSAMP TRUST 2003-SEA                                              | GSAMP TRUST GSAMP 2003 SEA A1                          | CUSIP: 36228FVH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       9560 | PA      | $10249.88      | 0.00%             | 2033-02-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LOAN 2006-OA9                             | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 OA9 2A1B     | CUSIP: 02146YAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     194623 | PA      | $170804.97     | 0.01%             | 2046-07-20      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003908 G2 10/36 FIXED 5                   | CUSIP: 36202EKV0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24421 | PA      | $25015.78      | 0.00%             | 2036-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 832562 FN 09/35 FLOATING VAR                 | CUSIP: 31407J5X6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      27407 | PA      | $28253.57      | 0.00%             | 2035-09-01      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 700829 GN 10/38 FIXED 5.5                    | CUSIP: 36296TSS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1279 | PA      | $1313.45       | 0.00%             | 2038-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 490213 GN 07/29 FIXED 6.5                    | CUSIP: 36210ESA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        530 | PA      | $541.61        | 0.00%             | 2029-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA5861 FN 10/40 FIXED 5.5                    | CUSIP: 31418FQP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     960483 | PA      | $985251.47     | 0.08%             | 2040-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A48438 FG 05/36 FIXED 6.5            | CUSIP: 3128K9LT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12772 | PA      | $13578.27      | 0.00%             | 2036-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 586228 FN 07/31 FIXED 6                      | CUSIP: 31387KHD8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1142 | PA      | $1172.04       | 0.00%             | 2031-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A38082 FG 09/35 FIXED 5              | CUSIP: 31297T6T5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9622 | PA      | $9882.45       | 0.00%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 560551 FN 11/30 FIXED 6.5                    | CUSIP: 31386DWL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4225 | PA      | $4384.51       | 0.00%             | 2030-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GMAC MORTG CORP LOAN TRUST 2002-HE1                               | GMAC MORTGAGE CORPORATION LOAN GMACM 2002 HE1 A2       | CUSIP: 361856BU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       3857 | PA      | $2952.88       | 0.00%             | 2029-01-25      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G30377 FG 12/27 FIXED 6              | CUSIP: 3128CUM29<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7091 | PA      | $7283.74       | 0.00%             | 2027-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04216 FG 12/37 FIXED 5.5            | CUSIP: 3128M6AR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20745 | PA      | $21725.47      | 0.00%             | 2037-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 607658 GN 02/33 FIXED 5.5                    | CUSIP: 36202SB31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2891 | PA      | $2912.97       | 0.00%             | 2033-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 820207 FN 05/35 FIXED 6                      | CUSIP: 31406UGQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22069 | PA      | $23124.09      | 0.00%             | 2035-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 789552 FH 05/32 FLOATING VAR         | CUSIP: 31295NTH1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3821 | PA      | $3903.32       | 0.00%             | 2032-05-01      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 686314 GN 05/38 FIXED 6                      | CUSIP: 36296BN73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1446 | PA      | $1500.33       | 0.00%             | 2038-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080042 G2 02/27 FLOATING VAR              | CUSIP: 36225CBL9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        224 | PA      | $223.92        | 0.00%             | 2027-02-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775982 FN 07/34 FLOATING VAR                 | CUSIP: 31404RCT2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      48567 | PA      | $49610.75      | 0.00%             | 2034-07-01      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A57663 FG 12/36 FIXED 5.5            | CUSIP: 3128KLQQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1239 | PA      | $1297.92       | 0.00%             | 2036-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BA8482 G2 06/47 FIXED 3.5                 | CUSIP: 3617AMM70<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     328123 | PA      | $302908.60     | 0.03%             | 2047-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782399 GN 09/38 FIXED 5.5                    | CUSIP: 36241KUY2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      37990 | PA      | $39861.11      | 0.00%             | 2038-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BB8813 G2 04/48 FIXED 4                   | CUSIP: 3617B0YJ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     626270 | PA      | $592246.74     | 0.05%             | 2048-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002947 G2 07/30 FIXED 8.5                 | CUSIP: 36202DHY0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        659 | PA      | $689.15        | 0.00%             | 2030-07-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782604 GN 03/39 FIXED 5.5                    | CUSIP: 36241K3M8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      78268 | PA      | $82277.61      | 0.01%             | 2039-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05923 FG 02/40 FIXED 5.5            | CUSIP: 3128M74G8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3829 | PA      | $3998.53       | 0.00%             | 2040-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 479099 GN 01/30 FIXED 8.5                    | CUSIP: 36209RGG2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        709 | PA      | $717.61        | 0.00%             | 2030-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 2.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F022618<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   10930000 | PA      | $9241827.40    | 0.78%             | 2055-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | REVERSE REPO CREDIT AGRICOLE 03/14 VAR                 | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |   -2596491 | PA      | $-2602774.95   | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AE0715 FN 12/40 FIXED VAR                    | CUSIP: 31419AYM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3824161 | PA      | $3749050.71    | 0.32%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL SD0941 FR 04/52 FIXED 3              | CUSIP: 3132DNBJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1152822 | PA      | $1032480.90    | 0.09%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A26750 FG 09/34 FIXED 5.5            | CUSIP: 31297EQB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38565 | PA      | $39231.01      | 0.00%             | 2034-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256253 FN 05/26 FIXED 5                      | CUSIP: 31371MTJ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         15 | PA      | $14.83         | 0.00%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080109 G2 08/27 FLOATING VAR              | CUSIP: 36225CDP8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        569 | PA      | $572.92        | 0.00%             | 2027-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A80970 FG 08/38 FIXED 5.5            | CUSIP: 312927CF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20759 | PA      | $21664.96      | 0.00%             | 2038-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4394                                           | FREDDIE MAC FHR 4394 WI                                | CUSIP: 3137BEV43<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      84717 | PA      | $4682.40       | 0.00%             | 2041-08-15      | Floating      | 1.86%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 805413 FN 01/35 FIXED 5.5                    | CUSIP: 31406BYJ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      54289 | PA      | $56788.05      | 0.00%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 610920 FH 06/28 FLOATING VAR         | CUSIP: 31337NAV0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        551 | PA      | $552.97        | 0.00%             | 2028-06-01      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91175 FG 05/28 FIXED 5              | CUSIP: 3128P7JU8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1063 | PA      | $1070.28       | 0.00%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 521655 GN 12/29 FIXED 8.5                    | CUSIP: 36211SQG5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5633 | PA      | $5700.20       | 0.00%             | 2029-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA2756 G2 04/45 FIXED 4.5                 | CUSIP: 36179RBZ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1993562 | PA      | $1990608.82    | 0.17%             | 2045-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.00000 06/21/23-7Y CME                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $954955.37     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 904601 FN 11/36 FIXED 6                      | CUSIP: 31411DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1587 | PA      | $1679.24       | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AB0462 FN 02/37 FIXED 6                      | CUSIP: 31416VQQ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      60281 | PA      | $62650.91      | 0.01%             | 2037-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008983 G2 09/26 FLOATING VAR              | CUSIP: 36202K6U4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        218 | PA      | $219.03        | 0.00%             | 2026-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BC1180 GN 08/47 FIXED 4                      | CUSIP: 3617B4JZ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      40206 | PA      | $38526.14      | 0.00%             | 2047-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 848450 FN 12/35 FIXED 6                      | CUSIP: 31408DTF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      58984 | PA      | $61384.14      | 0.01%             | 2035-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHASE FUNDING MTGE LN ASSET-BKD 2003-5                            | CHASE FUNDING MORTGAGE LOAN AS CFAB 2003 5 2A2         | CUSIP: 161546GR1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      12627 | PA      | $12673.26      | 0.00%             | 2033-07-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AV1004 FN 10/43 FIXED 5                      | CUSIP: 3138XCDJ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28604 | PA      | $29004.56      | 0.00%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 720739 GN 10/39 FIXED 5.5                    | CUSIP: 3620A6V87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     171166 | PA      | $176841.39     | 0.01%             | 2039-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHASE MORTGAGE FINANCE CORP 2007-S5                               | CHASE MORTGAGE FINANCE CORPORA CHASE 2007 S5 1A22      | CUSIP: 161631AX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1496736 | PA      | $637805.75     | 0.05%             | 2037-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2002-AR9                                        | WAMU MORTGAGE PASS THROUGH CER WAMU 2002 AR9 1A        | CUSIP: 9393357P4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     102464 | PA      | $100448.89     | 0.01%             | 2042-08-25      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A37622 FG 09/35 FIXED 5.5            | CUSIP: 31297TPF4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      35824 | PA      | $37291.95      | 0.00%             | 2035-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 918407 FN 05/37 FIXED 6                      | CUSIP: 31411YKU6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      59471 | PA      | $62169.17      | 0.01%             | 2037-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 846942 FH 02/31 FLOATING VAR         | CUSIP: 3128HDWB1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |          7 | PA      | $6.74          | 0.00%             | 2031-02-01      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 956232 FN 11/37 FIXED 6.5                    | CUSIP: 31413UY52<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28993 | PA      | $30379.29      | 0.00%             | 2037-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROMARK CLO LTD 2017-1A                                            | ROMARK CLO LTD RMRK 2017 1A A1R 144A                   | CUSIP: 77587UAL6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     948662 | PA      | $949823.56     | 0.08%             | 2030-10-23      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080045 G2 02/27 FLOATING VAR              | CUSIP: 36225CBP0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3137 | PA      | $3136.90       | 0.00%             | 2027-02-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080060 G2 04/27 FLOATING VAR              | CUSIP: 36225CB62<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        364 | PA      | $364.51        | 0.00%             | 2027-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 785867 FH 12/26 FLOATING VAR         | CUSIP: 31348SQU1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        738 | PA      | $738.77        | 0.00%             | 2026-12-01      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 787603 FH 10/27 FLOATING VAR         | CUSIP: 31295LNU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         98 | PA      | $99.21         | 0.00%             | 2027-10-01      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 779589 FN 06/34 FIXED 5.5                    | CUSIP: 31404VC22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      31291 | PA      | $31749.36      | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06951 FG 08/40 FIXED 5.5            | CUSIP: 3128M9BU5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7629 | PA      | $7966.71       | 0.00%             | 2040-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06385 FG 08/40 FIXED 5.5            | CUSIP: 3128M8NA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16747 | PA      | $17488.16      | 0.00%             | 2040-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782423 GN 10/38 FIXED 5.5                    | CUSIP: 36241KVQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11600 | PA      | $12194.00      | 0.00%             | 2038-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 608150 GN 04/33 FIXED 5.5                    | CUSIP: 36202STF5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11951 | PA      | $12477.11      | 0.00%             | 2033-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 719899 GN 08/39 FIXED 6                      | CUSIP: 3620A5X46<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      67463 | PA      | $70223.06      | 0.01%             | 2039-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C79405 FG 05/33 FIXED 5              | CUSIP: 31288JNW2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        116 | PA      | $118.12        | 0.00%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 15 YR 3 SINGLE FAMILY MORTGAGE                | CUSIP: 01F030413<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   53675000 | PA      | $51643316.98   | 4.35%             | 2041-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CVS PASS-THROUGH TRUST                                            | CVS PASS THROUGH TRUST PASS THRU CE 12/28 6.036        | CUSIP: 126650BP4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     433455 | PA      | $437895.12     | 0.04%             | 2028-12-10      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| FANNIEMAE STRIP 419                                               | FANNIEMAE STRIP FNS 419 C3                             | CUSIP: 31395Q5Q9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1314272 | PA      | $176398.87     | 0.01%             | 2043-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ADJUSTABLE RT MTG LN 2004-20                           | STRUCTURED ADJUSTABLE RATE MOR SARM 2004 20 3A1        | CUSIP: 863579HD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      48439 | PA      | $48085.39      | 0.00%             | 2035-01-25      | Floating      | 3.89%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A15829 FG 11/33 FIXED 5.5            | CUSIP: 31296QPN4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        315 | PA      | $319.45        | 0.00%             | 2033-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AA8715 FN 06/39 FIXED 4                      | CUSIP: 31416SVH1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      27723 | PA      | $27385.73      | 0.00%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 902610 FN 11/36 FIXED 6                      | CUSIP: 31411AYF6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1026 | PA      | $1082.20       | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 787022 FN 06/34 FIXED 5.5                    | CUSIP: 31405ELB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        215 | PA      | $217.88        | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QG5258 FR 06/53 FIXED 5              | CUSIP: 3133C5ZX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     113757 | PA      | $114777.11     | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05651 FG 09/39 FIXED 5              | CUSIP: 3128M7TG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18546 | PA      | $19103.50      | 0.00%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS8667 FN 06/33 FIXED 4.44                   | CUSIP: 3140LKTZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     643654 | PA      | $643862.35     | 0.05%             | 2033-06-01      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04448 FG 07/38 FIXED 5.5            | CUSIP: 3128M6HZ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6573 | PA      | $6866.27       | 0.00%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 679495 GN 01/38 FIXED 5.5                    | CUSIP: 36295S3C8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15385 | PA      | $16084.93      | 0.00%             | 2038-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04162 FG 04/38 FIXED 5.5            | CUSIP: 3128M55X4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      36374 | PA      | $38096.13      | 0.00%             | 2038-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MTGE LOAN TRUST 2005-AR12                            | INDYMAC INDX MORTGAGE LOAN TRU INDX 2005 AR12 2A1A     | CUSIP: 45660LMG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     308012 | PA      | $290601.25     | 0.02%             | 2035-07-25      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AZ8426 G2 03/47 FIXED 3.5                 | CUSIP: 36197MLF3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     429944 | PA      | $396907.58     | 0.03%             | 2047-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MASTR SEASONED SECURITIES TRUST 2005-1                            | MASTR SEASONED SECURITIZATION MSSTR 2005 1 3A1         | CUSIP: 55265WCJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      27210 | PA      | $25259.15      | 0.00%             | 2032-10-25      | Floating      | 4.05%                 | No            |                  2 | On Loan: No      |
| LONG BEACH MTGE LOAN TRUST 2001-4                                 | LONG BEACH MORTGAGE LOAN TRUST LBMLT 2001 4 2M1        | CUSIP: 542514BK9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      13274 | PA      | $20724.24      | 0.00%             | 2032-03-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 841978 FN 03/35 FLOATING VAR                 | CUSIP: 31407VM36<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23174 | PA      | $22872.32      | 0.00%             | 2035-03-01      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05179 FG 01/39 FIXED 5.5            | CUSIP: 3128M7CQ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     520486 | PA      | $544629.69     | 0.05%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 190880 FN 11/28 FLOATING VAR                 | CUSIP: 31368H6R9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2551 | PA      | $2529.20       | 0.00%             | 2028-11-01      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 804158 FN 12/34 FIXED 5.5                    | CUSIP: 31406AMF6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11700 | PA      | $11870.09      | 0.00%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C01418 FG 10/32 FIXED 5.5            | CUSIP: 31292HSF2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7434 | PA      | $7728.80       | 0.00%             | 2032-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 722770 GN 09/39 FIXED 6                      | CUSIP: 3620A86F5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4349 | PA      | $4486.16       | 0.00%             | 2039-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 598543 GN 04/35 FIXED 5.5                    | CUSIP: 36200D5C3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        197 | PA      | $203.02        | 0.00%             | 2035-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 634237 FN 03/32 FIXED 6                      | CUSIP: 31389SS21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2200 | PA      | $2257.74       | 0.00%             | 2032-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM9166 FN 10/51 FIXED VAR                    | CUSIP: 3140XDFG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2053695 | PA      | $1819490.60    | 0.15%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 769702 FN 04/34 FIXED 5.5                    | CUSIP: 31404JDF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12107 | PA      | $12375.41      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04838 FG 01/38 FIXED 5.5            | CUSIP: 3128M6V70<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12513 | PA      | $13104.05      | 0.00%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BN0932 FN 12/48 FIXED 4                      | CUSIP: 3140JHBA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1985137 | PA      | $1916383.74    | 0.16%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 936190 FN 05/37 FIXED 6.5                    | CUSIP: 31412VRK6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      48041 | PA      | $50594.84      | 0.00%             | 2037-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 710929 GN 10/39 FIXED 5                      | CUSIP: 36297FY22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3265 | PA      | $3359.86       | 0.00%             | 2039-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2002-W12                                               | FANNIEMAE WHOLE LOAN FNW 2002 W12 AV1                  | CUSIP: 31392GSR7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5435 | PA      | $5352.47       | 0.00%             | 2033-02-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782759 GN 09/39 FIXED 5.5                    | CUSIP: 36241LB47<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7881 | PA      | $8284.27       | 0.00%             | 2039-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 771034 FN 04/34 FIXED 5.5                    | CUSIP: 31404KSX1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     237683 | PA      | $246664.54     | 0.02%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AZ3493 G2 03/47 FIXED 3.5                 | CUSIP: 36197F3A9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     309466 | PA      | $285797.96     | 0.02%             | 2047-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 776975 FN 04/34 FIXED 5.5                    | CUSIP: 31404SFQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10943 | PA      | $11102.16      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BD3541 G2 10/47 FIXED 3.5                 | CUSIP: 3617BJ5A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     234522 | PA      | $215147.16     | 0.02%             | 2047-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 920731 FN 01/37 FIXED 6                      | CUSIP: 31412B4Q2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4752 | PA      | $4975.49       | 0.00%             | 2037-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782131 GN 12/36 FIXED 5.5                    | CUSIP: 36241KLL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5720 | PA      | $5956.01       | 0.00%             | 2036-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 4 JUMBOS                             | CUSIP: 21H040616<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   38650000 | PA      | $36516701.27   | 3.08%             | 2055-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AJ9192 FN 01/27 FIXED 3                      | CUSIP: 3138E2GA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25222 | PA      | $25055.49      | 0.00%             | 2027-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008874 G2 05/26 FLOATING VAR              | CUSIP: 36202K2F1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         53 | PA      | $53.02         | 0.00%             | 2026-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FS4587 FN 04/43 FIXED VAR                    | CUSIP: 3140XLCZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     263552 | PA      | $274425.85     | 0.02%             | 2043-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BD9998 G2 11/47 FIXED 3.5                 | CUSIP: 3617BSDB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     217853 | PA      | $199861.97     | 0.02%             | 2047-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AI2052 FN 05/41 FIXED 4                      | CUSIP: 3138AFH60<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     468639 | PA      | $458926.81     | 0.04%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 840274 FN 11/35 FIXED 5.5                    | CUSIP: 31407TQ37<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        421 | PA      | $437.00        | 0.00%             | 2035-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2005-14                             | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2005 14 2A1       | CUSIP: 12667GCB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     249160 | PA      | $242733.28     | 0.02%             | 2035-05-25      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| GREENPOINT MTGE FUNDING TR 2006-AR7                               | GREENPOINT MORTGAGE FUNDING TR GPMF 2006 AR7 1A32      | CUSIP: 39538CAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1033857 | PA      | $1037284.32    | 0.09%             | 2046-12-25      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AO2429 GN 08/45 FIXED 3                      | CUSIP: 3617A2VW9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      67071 | PA      | $60674.64      | 0.01%             | 2045-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 067697 FN 11/28 FLOATING VAR                 | CUSIP: 31362QGE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7318 | PA      | $7229.33       | 0.00%             | 2028-11-01      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL SD0940 FR 03/52 FIXED 3              | CUSIP: 3132DNBH5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     434539 | PA      | $388249.64     | 0.03%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03328 FG 09/37 FIXED 5.5            | CUSIP: 3128M5A59<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5587 | PA      | $5851.03       | 0.00%             | 2037-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002936 G2 06/30 FIXED 8.5                 | CUSIP: 36202DHM6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        397 | PA      | $409.92        | 0.00%             | 2030-06-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080156 G2 01/28 FLOATING VAR              | CUSIP: 36225CE69<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7912 | PA      | $7889.43       | 0.00%             | 2028-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A36258 FG 07/35 FIXED 5              | CUSIP: 31297R5T0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      71627 | PA      | $73652.50      | 0.01%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06614 FG 12/35 FIXED 5              | CUSIP: 3128M8VF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      32829 | PA      | $33685.83      | 0.00%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BE1670 G2 06/48 FIXED 4                   | CUSIP: 3617BU2B4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     348792 | PA      | $340617.13     | 0.03%             | 2048-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL2378 FN 10/41 FIXED VAR                    | CUSIP: 3138EJUC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      56303 | PA      | $55130.51      | 0.00%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BJ9942 FN 04/48 FIXED 4                      | CUSIP: 3140HCBL9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     117911 | PA      | $114641.04     | 0.01%             | 2048-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 1997-89                                                | FANNIE MAE FNR 1997 89 ZA                              | CUSIP: 31359RPS5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4434 | PA      | $4496.98       | 0.00%             | 2027-12-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BD8163 G2 12/47 FIXED 3.5                 | CUSIP: 3617BQB80<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     328262 | PA      | $303037.72     | 0.03%             | 2047-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04503 FG 11/35 FIXED 5.5            | CUSIP: 3128M6KQ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17106 | PA      | $17914.35      | 0.00%             | 2035-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 889959 FN 05/36 FIXED VAR                    | CUSIP: 31410KWU4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      33842 | PA      | $35809.06      | 0.00%             | 2036-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2006-30T1                           | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 30T1 1A3     | CUSIP: 02146VAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     522711 | PA      | $382155.09     | 0.03%             | 2036-11-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C01623 FG 09/33 FIXED 5.5            | CUSIP: 31292HYU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        175 | PA      | $179.88        | 0.00%             | 2033-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 505641 FN 06/29 FLOATING VAR                 | CUSIP: 31383KWA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4339 | PA      | $4407.19       | 0.00%             | 2029-06-01      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 780992 GN 12/28 FIXED 8                      | CUSIP: 36225BC55<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        181 | PA      | $183.62        | 0.00%             | 2028-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 357515 FN 03/34 FIXED 5.5                    | CUSIP: 31376KDU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4750 | PA      | $4826.33       | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080710 G2 07/33 FLOATING VAR              | CUSIP: 36225CYG5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     232944 | PA      | $236973.72     | 0.02%             | 2033-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 545998 FN 11/32 FIXED VAR                    | CUSIP: 31385JRT7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8868 | PA      | $9191.84       | 0.00%             | 2032-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 2 SINGLE FAMILY MORTGAGE                | CUSIP: 01F020620<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -125000000 | PA      | $-101049307.50 | -8.51%            | 2056-02-12      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 081016 G2 08/34 FLOATING VAR              | CUSIP: 36225DDW1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      77729 | PA      | $79169.15      | 0.01%             | 2034-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323397 FN 11/28 FIXED VAR                    | CUSIP: 31374TGE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         48 | PA      | $49.48         | 0.00%             | 2028-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 777730 FN 05/34 FIXED 5.5                    | CUSIP: 31404TA78<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16517 | PA      | $16758.51      | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 832864 FN 09/35 FIXED 5.5                    | CUSIP: 31407KJH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        602 | PA      | $624.60        | 0.00%             | 2035-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08147 FG 08/36 FIXED 6.5            | CUSIP: 3128MJEV8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      55175 | PA      | $58204.56      | 0.00%             | 2036-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 481627 GN 08/29 FIXED 7.5                    | CUSIP: 36209UA48<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        602 | PA      | $612.84        | 0.00%             | 2029-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 902851 FN 12/36 FIXED 6.5                    | CUSIP: 31411BBU6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      70312 | PA      | $73918.27      | 0.01%             | 2036-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 832238 FN 08/35 FIXED 6                      | CUSIP: 31407JS37<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28700 | PA      | $29472.47      | 0.00%             | 2035-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 223535 FN 12/30 FLOATING VAR                 | CUSIP: 31369XHL4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10665 | PA      | $10790.78      | 0.00%             | 2030-12-01      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91116 FG 11/27 FIXED 6              | CUSIP: 3128P7GZ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3572 | PA      | $3669.50       | 0.00%             | 2027-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2015-180                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2015 180 SA         | CUSIP: 38379TGM5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     417057 | PA      | $23093.22      | 0.00%             | 2042-06-20      | Floating      | 1.18%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 889466 FN 05/38 FIXED VAR                    | CUSIP: 31410KFF6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4520 | PA      | $4782.89       | 0.00%             | 2038-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE-1996-48                                                | FANNIE MAE FNR 1996 48 Z                               | CUSIP: 31359KXE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         77 | PA      | $76.59         | 0.00%             | 2026-11-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 804320 FN 11/34 FIXED 5.5                    | CUSIP: 31406ASH6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25469 | PA      | $26372.29      | 0.00%             | 2034-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2114                                                  | FREDDIE MAC FHR 2114 PM                                | CUSIP: 3133THPL5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9464 | PA      | $9496.93       | 0.00%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BG5674 GN 07/48 FIXED 4                      | CUSIP: 3617GQJT1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1000499 | PA      | $979985.76     | 0.08%             | 2048-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080152 G2 01/28 FLOATING VAR              | CUSIP: 36225CE28<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        485 | PA      | $485.26        | 0.00%             | 2028-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080113 G2 09/27 FLOATING VAR              | CUSIP: 36225CDT0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        120 | PA      | $120.65        | 0.00%             | 2027-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 986648 FN 09/37 FIXED 6                      | CUSIP: 31415RBR4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3214 | PA      | $3386.36       | 0.00%             | 2037-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 704664 FN 04/33 FIXED 5.5                    | CUSIP: 31401CZ55<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5400 | PA      | $5478.32       | 0.00%             | 2033-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002959 G2 08/30 FIXED 8.5                 | CUSIP: 36202DJC6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2574 | PA      | $2702.04       | 0.00%             | 2030-08-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QD9433 FR 03/52 FIXED 3              | CUSIP: 3133B7PS1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     428079 | PA      | $379579.02     | 0.03%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BA4544 FN 11/35 FIXED 4                      | CUSIP: 3140E9BN5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1558414 | PA      | $1549265.04    | 0.13%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA0006 G2 04/27 FIXED 2.5                 | CUSIP: 36179MAF7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12135 | PA      | $12019.64      | 0.00%             | 2027-04-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BE6330 G2 01/48 FIXED 3.5                 | CUSIP: 3617G1A73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     638416 | PA      | $588802.01     | 0.05%             | 2048-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC STRUCTURED PASS THROUGH T-31                                | FHLMC STRUCTURED PASS THROUGH FSPC T 31 A7             | CUSIP: 3133TR7C3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      56238 | PA      | $56218.00      | 0.00%             | 2031-05-25      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CB0356 FN 05/51 FIXED 3                      | CUSIP: 3140QKME5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5968693 | PA      | $5286770.93    | 0.45%             | 2051-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 941137 FN 10/37 FIXED 6.5                    | CUSIP: 31413CBE8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3512 | PA      | $3690.13       | 0.00%             | 2037-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080264 G2 03/29 FLOATING VAR              | CUSIP: 36225CJJ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         80 | PA      | $80.42         | 0.00%             | 2029-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2104                                                  | FREDDIE MAC FHR 2104 ZM                                | CUSIP: 3133THB89<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23729 | PA      | $24266.76      | 0.00%             | 2028-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 254676 FN 03/33 FIXED 6                      | CUSIP: 31371K2H3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        951 | PA      | $986.57        | 0.00%             | 2033-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08378 FG 10/39 FIXED 6              | CUSIP: 3128MJM49<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9276 | PA      | $9695.60       | 0.00%             | 2039-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 604945 GN 01/34 FIXED 5                      | CUSIP: 36200NBN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1547 | PA      | $1570.99       | 0.00%             | 2034-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LOAN 2006-OA11                            | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 OA11 A1C     | CUSIP: 02147DAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3653940 | PA      | $3072893.02    | 0.26%             | 2046-09-25      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05122 FG 01/39 FIXED 5.5            | CUSIP: 3128M7AX4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23339 | PA      | $24378.83      | 0.00%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C00781 FG 04/29 FIXED 6.5            | CUSIP: 31292G2N5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        250 | PA      | $259.57        | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 850616 FN 02/36 FLOATING VAR                 | CUSIP: 31408GAR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7218 | PA      | $7399.02       | 0.00%             | 2036-02-01      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 730470 FN 08/33 FIXED 5.5                    | CUSIP: 31402JQX8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         52 | PA      | $53.60         | 0.00%             | 2033-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                                | US TREASURY N/B 08/35 4.25                             | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     830000 | PA      | $836095.31     | 0.07%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 900135 FN 09/36 FIXED 6.5                    | CUSIP: 31410XBC9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9713 | PA      | $10226.49      | 0.00%             | 2036-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323362 FN 11/28 FIXED VAR                    | CUSIP: 31374TFB0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        862 | PA      | $884.92        | 0.00%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RA5646 FR 07/51 FIXED 3              | CUSIP: 3133KMHX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   18495226 | PA      | $16407279.43   | 1.38%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM1514 FN 09/49 FIXED VAR                    | CUSIP: 3140X4VG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3046625 | PA      | $2703070.13    | 0.23%             | 2049-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 811801 FN 02/35 FLOATING VAR                 | CUSIP: 31406J3J0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11593 | PA      | $11887.45      | 0.00%             | 2035-02-01      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 672937 GN 08/38 FIXED 6                      | CUSIP: 36295KS20<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14966 | PA      | $15808.95      | 0.00%             | 2038-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS7102 FN 11/32 FIXED 4.5                    | CUSIP: 3140LH3L2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    7000000 | PA      | $7063472.64    | 0.59%             | 2032-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE WHOLE LOAN                                             | FANNIEMAE WHOLE LOAN FNW 1998 W2 A8                    | CUSIP: 31359UPD1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5755 | PA      | $5826.26       | 0.00%             | 2028-06-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 949054 FN 09/37 FIXED 6.5                    | CUSIP: 31413LZT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4827 | PA      | $5076.07       | 0.00%             | 2037-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 940642 FN 08/37 FIXED 6                      | CUSIP: 31413BP39<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4270 | PA      | $4518.58       | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 899495 FN 05/37 FIXED 6                      | CUSIP: 31410WKG2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      63279 | PA      | $65855.66      | 0.01%             | 2037-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 1L0183 FH 08/35 FLOATING VAR         | CUSIP: 3128Q2FY4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3326 | PA      | $3421.25       | 0.00%             | 2035-08-01      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080636 G2 09/32 FLOATING VAR              | CUSIP: 36225CV60<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      71181 | PA      | $71448.27      | 0.01%             | 2032-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AD8789 GN 03/43 FIXED 3.5                    | CUSIP: 36180MXS1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23554 | PA      | $21950.41      | 0.00%             | 2043-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 254146 FN 01/32 FIXED 6                      | CUSIP: 31371KHX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1562 | PA      | $1614.93       | 0.00%             | 2032-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08192 FG 04/37 FIXED 5.5            | CUSIP: 3128MJGA2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7034 | PA      | $7366.45       | 0.00%             | 2037-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 737532 GN 10/40 FIXED 4                      | CUSIP: 3620ARLM1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6891 | PA      | $6644.73       | 0.00%             | 2040-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 800412 FN 12/34 FIXED 5.5                    | CUSIP: 31405VGV3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     153364 | PA      | $155610.53     | 0.01%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08443 FG 04/41 FIXED 4.5            | CUSIP: 3128MJP53<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7244 | PA      | $7299.56       | 0.00%             | 2041-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMBAC ASSURANCE CORPORATION                                       | AMBAC ASSURANCE CORP SUBORDINATED 144A 12/99 5.1       | CUSIP: 023138AA8<br>LEI: 549300RYYRVPPB8NC636 | Long             | DBT              | CORP              | US        |      37598 | PA      | $49065.31      | 0.00%             | 2099-12-31      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| WAMU MTGE P/T CERTIFICATES 2007-HY4                               | WAMU MORTGAGE PASS THROUGH CER WAMU 2007 HY4 1A1       | CUSIP: 933636AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     414248 | PA      | $374453.51     | 0.03%             | 2037-04-25      | Floating      | 3.67%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 767506 FN 03/34 FIXED 5.5                    | CUSIP: 31404FU76<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20089 | PA      | $20545.19      | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 494522 FN 04/29 FIXED 5.5                    | CUSIP: 31382WLB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3244 | PA      | $3289.18       | 0.00%             | 2029-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 604897 GN 12/33 FIXED 5                      | CUSIP: 36200M7J6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        412 | PA      | $416.53        | 0.00%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 838689 FN 09/35 FIXED 6.5                    | CUSIP: 31407RXS8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2295 | PA      | $2381.45       | 0.00%             | 2035-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 652847 FN 09/32 FIXED 6                      | CUSIP: 31390QHY4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12361 | PA      | $12687.40      | 0.00%             | 2032-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MAGNETITE CLO LTD 2020-25A                                        | MAGNETITE CLO LTD MAGNE 2020 25A A 144A                | CUSIP: 55955GAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     424442 | PA      | $424889.49     | 0.04%             | 2032-01-25      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5069 G2 03/48 FIXED 4.5                 | CUSIP: 36179TT21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14327 | PA      | $14068.30      | 0.00%             | 2048-03-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | US 10YR NOTE (CBT)MAR26 XCBT 20260320                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |       -760 | NC      | $298550.53     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AT6745 FN 05/43 FIXED 4                      | CUSIP: 3138WUP72<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     577002 | PA      | $564119.99     | 0.05%             | 2043-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BJ7040 FN 08/38 FIXED 4                      | CUSIP: 3140H8ZE8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     218363 | PA      | $216415.37     | 0.02%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY4070 FN 06/53 FIXED 5                      | CUSIP: 3140NLQY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     405945 | PA      | $412100.85     | 0.03%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA2020 FN 05/48 FIXED 3                      | CUSIP: 3140Q9G64<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     500190 | PA      | $448865.74     | 0.04%             | 2048-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AT8403 FN 06/43 FIXED 4                      | CUSIP: 3138WWKR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     688799 | PA      | $673734.08     | 0.06%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008848 G2 04/26 FLOATING VAR              | CUSIP: 36202KZM0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        209 | PA      | $208.71        | 0.00%             | 2026-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0200 FN 10/29 FIXED 4.5                    | CUSIP: 31417YGJ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12547 | PA      | $12603.63      | 0.00%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 712594 GN 07/39 FIXED 5.5                    | CUSIP: 36297HUT3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      56873 | PA      | $58232.18      | 0.00%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.25000 06/18/25-10Y CME                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $1256637.66    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BJ4187 G2 09/48 FIXED 4.5                 | CUSIP: 3617HRUL2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     509874 | PA      | $497779.47     | 0.04%             | 2048-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 902974 FN 12/36 FIXED 6                      | CUSIP: 31411BFP3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      57626 | PA      | $60978.91      | 0.01%             | 2036-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GSR MTGE LOAN TRUST 2004-7                                        | GSR MORTGAGE LOAN TRUST GSR 2004 7 1A1                 | CUSIP: 36228F4P8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       5642 | PA      | $5446.21       | 0.00%             | 2034-06-25      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080095 G2 07/27 FLOATING VAR              | CUSIP: 36225CC95<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6038 | PA      | $6076.77       | 0.00%             | 2027-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05191 FG 12/38 FIXED 5.5            | CUSIP: 3128M7C46<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      19263 | PA      | $20104.35      | 0.00%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 661528 GN 12/36 FIXED 6.5                    | CUSIP: 36294V4M9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10059 | PA      | $10580.24      | 0.00%             | 2036-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 655687 FN 08/32 FIXED 6.5                    | CUSIP: 31390TNC9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17955 | PA      | $18635.53      | 0.00%             | 2032-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIEMAE GRANTOR TRUST 2001-T4                                   | FANNIEMAE GRANTOR TRUST FNGT 2001 T4 A1                | CUSIP: 31359SR69<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38305 | PA      | $40212.41      | 0.00%             | 2041-07-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 411079 GN 12/38 FIXED 6                      | CUSIP: 36206GUC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1033 | PA      | $1063.47       | 0.00%             | 2038-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BD9048 G2 11/47 FIXED 3.5                 | CUSIP: 3617BRBR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1152424 | PA      | $1064279.78    | 0.09%             | 2047-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A69945 FG 12/37 FIXED 5.5            | CUSIP: 3128L2BN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     107917 | PA      | $111814.47     | 0.01%             | 2037-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2006-5                                                 | FANNIE MAE FNR 2006 5 3A2                              | CUSIP: 31394VL73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25582 | PA      | $26218.09      | 0.00%             | 2035-05-25      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 779027 FN 06/34 FIXED 5.5                    | CUSIP: 31404UPL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      31840 | PA      | $33146.57      | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 732484 GN 02/40 FIXED 6                      | CUSIP: 3620AKXM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20274 | PA      | $20904.76      | 0.00%             | 2040-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A46280 FG 07/35 FIXED 5              | CUSIP: 3128K66R6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     134168 | PA      | $137971.80     | 0.01%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY4015 FN 06/53 FIXED 5                      | CUSIP: 3140NLN96<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     115240 | PA      | $116334.67     | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 543931 GN 02/31 FIXED 7.5                    | CUSIP: 36212UHG9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1114 | PA      | $1148.72       | 0.00%             | 2031-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AI9977 FN 10/26 FIXED 3                      | CUSIP: 3138AQCP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2180 | PA      | $2166.42       | 0.00%             | 2026-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM3493 FN 05/35 FIXED VAR                    | CUSIP: 3140X63B5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1784264 | PA      | $1761257.79    | 0.15%             | 2035-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 796705 FN 09/34 FLOATING VAR                 | CUSIP: 31405RDJ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21598 | PA      | $22316.21      | 0.00%             | 2034-09-01      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 899735 FN 09/37 FIXED 6.5                    | CUSIP: 31410WSY5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        108 | PA      | $114.17        | 0.00%             | 2037-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QC2713 FR 04/51 FIXED 1.5            | CUSIP: 3133AMAN6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      35357 | PA      | $27530.27      | 0.00%             | 2051-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MTGE LOAN TRUST INC 2005-6                              | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2005 6 A1          | CUSIP: 17307GXP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      44510 | PA      | $45410.89      | 0.00%             | 2035-09-25      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782976 GN 03/39 FIXED 5.5                    | CUSIP: 36241LJV9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9673 | PA      | $10105.39      | 0.00%             | 2039-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA2800 FN 11/26 FIXED 2                      | CUSIP: 31418CDE1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6220 | PA      | $6166.55       | 0.00%             | 2026-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080425 G2 07/30 FLOATING VAR              | CUSIP: 36225CPK6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9462 | PA      | $9513.19       | 0.00%             | 2030-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 831927 FN 12/36 FIXED 6                      | CUSIP: 31407JHC9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6004 | PA      | $6353.69       | 0.00%             | 2036-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 828982 FN 08/35 FLOATING VAR                 | CUSIP: 31407E6T5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20143 | PA      | $20692.46      | 0.00%             | 2035-08-01      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A55204 FG 12/36 FIXED 5.5            | CUSIP: 3128KHX92<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        154 | PA      | $158.78        | 0.00%             | 2036-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A92269 FG 05/40 FIXED 4.5            | CUSIP: 312940QW2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1561171 | PA      | $1565807.28    | 0.13%             | 2040-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2091                                                  | FREDDIE MAC FHR 2091 ZC                                | CUSIP: 3133TGU49<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9715 | PA      | $9957.92       | 0.00%             | 2028-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 456455 FN 01/29 FIXED 6.5                    | CUSIP: 31381CBY2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        141 | PA      | $147.24        | 0.00%             | 2029-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 890362 FN 08/41 FIXED VAR                    | CUSIP: 31410LFB3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2877833 | PA      | $2897799.07    | 0.24%             | 2041-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q56464 FG 06/48 FIXED 4              | CUSIP: 3132Y0FE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     689630 | PA      | $667822.89     | 0.06%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 503004 FN 06/29 FIXED 6.5                    | CUSIP: 31383GX92<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |          4 | PA      | $4.63          | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/4.15500 10/10/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $1303818.89    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2005-AR13                                       | WAMU MORTGAGE PASS THROUGH CER WAMU 2005 AR13 A1A1     | CUSIP: 92922F4M7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      20207 | PA      | $19669.94      | 0.00%             | 2045-10-25      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 617739 FN 08/32 FIXED 6                      | CUSIP: 31388XHQ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3180 | PA      | $3263.88       | 0.00%             | 2032-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 737184 GN 04/40 FIXED 5.5                    | CUSIP: 3620AQ6V0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18775 | PA      | $18812.17      | 0.00%             | 2040-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RESIDENTIAL FUNDING MTGE SEC 2005-SA4                             | RESIDENTIAL FUNDING MTG SEC I RFMSI 2005 SA4 1A21      | CUSIP: 76111XYD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     577934 | PA      | $360389.58     | 0.03%             | 2035-09-25      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| BEIGNET INVESTOR LLC                                              | BEIGNET INVESTOR LLC SR SECURED 144A 05/49 6.581       | CUSIP: 076912AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   16460000 | PA      | $17404946.21   | 1.47%             | 2049-05-30      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 060680 FN 02/28 FLOATING VAR                 | CUSIP: 31362GM57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2358 | PA      | $2342.73       | 0.00%             | 2028-02-01      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 555640 FN 07/33 FIXED VAR                    | CUSIP: 31385XHR1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1409 | PA      | $1459.65       | 0.00%             | 2033-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008849 G2 04/26 FLOATING VAR              | CUSIP: 36202KZN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        432 | PA      | $431.06        | 0.00%             | 2026-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AH4090 FN 02/26 FIXED 3.5                    | CUSIP: 3138A5RL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        535 | PA      | $533.76        | 0.00%             | 2026-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 677596 GN 12/37 FIXED 6                      | CUSIP: 36295QXZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1071 | PA      | $1107.40       | 0.00%             | 2037-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 682906 GN 11/40 FIXED 5.5                    | CUSIP: 36295WU70<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     103377 | PA      | $106474.75     | 0.01%             | 2040-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 888695 FN 08/37 FIXED VAR                    | CUSIP: 31410GKG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        546 | PA      | $561.41        | 0.00%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 778871 FN 06/34 FIXED 5.5                    | CUSIP: 31404UJQ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      65571 | PA      | $66743.41      | 0.01%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 724033 GN 11/39 FIXED 6                      | CUSIP: 3620AALN6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      34734 | PA      | $35745.26      | 0.00%             | 2039-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AX8328 G2 06/47 FIXED 3.5                 | CUSIP: 36196LHD6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     519375 | PA      | $479454.47     | 0.04%             | 2047-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2016-76                                         | FANNIE MAE FNR 2016 76 CS                              | CUSIP: 3136ATY81<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     156525 | PA      | $6814.30       | 0.00%             | 2046-10-25      | Floating      | 1.43%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 449247 FN 01/29 FIXED 6                      | CUSIP: 31380TBQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         92 | PA      | $95.70         | 0.00%             | 2029-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA3894 FN 09/31 FIXED 4                      | CUSIP: 31418DKG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      56705 | PA      | $56552.01      | 0.00%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 408204 FN 01/28 FIXED 6.5                    | CUSIP: 31378TNV3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         27 | PA      | $27.95         | 0.00%             | 2028-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 661333 FN 09/32 FIXED 6.5                    | CUSIP: 31391AV22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        104 | PA      | $107.53        | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4438                                           | FREDDIE MAC FHR 4438 WI                                | CUSIP: 3137BGLL1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     280172 | PA      | $15711.93      | 0.00%             | 2038-11-15      | Floating      | 1.77%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RB5162 FR 06/42 FIXED 3              | CUSIP: 3133KYWX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5896500 | PA      | $5512806.12    | 0.46%             | 2042-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002473 G2 08/27 FIXED 7.5                 | CUSIP: 36202CXA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        147 | PA      | $148.32        | 0.00%             | 2027-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AW6509 FN 06/44 FIXED 4.5                    | CUSIP: 3138XWGT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     154614 | PA      | $154132.95     | 0.01%             | 2044-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 779643 FN 07/34 FIXED 5.5                    | CUSIP: 31404VEQ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      52188 | PA      | $53156.09      | 0.00%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 787331 FN 07/34 FIXED 5.5                    | CUSIP: 31405EVY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        273 | PA      | $276.78        | 0.00%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06193 FG 05/40 FIXED 5.5            | CUSIP: 3128M8GA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      41250 | PA      | $43088.17      | 0.00%             | 2040-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008781 G2 01/26 FLOATING VAR              | CUSIP: 36202KXJ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |          7 | PA      | $6.95          | 0.00%             | 2026-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 4839                                                  | FREDDIE MAC FHR 4839 UO                                | CUSIP: 3137FJJY6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2504416 | PA      | $1590528.42    | 0.13%             | 2056-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008880 G2 06/26 FLOATING VAR              | CUSIP: 36202K2M6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        549 | PA      | $549.04        | 0.00%             | 2026-06-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BF0334 FN 01/59 FIXED 3.5                    | CUSIP: 3140FXLQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    8426232 | PA      | $7693249.17    | 0.65%             | 2059-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 910930 FN 02/37 FIXED 6.5                    | CUSIP: 31411LA76<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10156 | PA      | $10660.14      | 0.00%             | 2037-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 819990 FN 04/35 FIXED 6                      | CUSIP: 31406T7B1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1119 | PA      | $1166.79       | 0.00%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 799982 FN 12/34 FIXED 5.5                    | CUSIP: 31405UXK0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         13 | PA      | $13.34         | 0.00%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04538 FG 03/38 FIXED 5.5            | CUSIP: 3128M6LT3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        859 | PA      | $897.07        | 0.00%             | 2038-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256343 FN 06/26 FIXED 5                      | CUSIP: 31371MWC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2369 | PA      | $2366.15       | 0.00%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOMURA ASSET ACCEP CORP 2001-R1A                                  | NOMURA ASSET ACCEPTANCE CORPOR NAA 2001 R1A A 144A     | CUSIP: 65535VAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      82526 | PA      | $82377.60      | 0.01%             | 2030-02-19      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 781077 FN 05/34 FIXED 5.5                    | CUSIP: 31404WXE1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7115 | PA      | $7217.62       | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QC8831 FR 10/51 FIXED 3              | CUSIP: 3133ATY47<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     970158 | PA      | $875638.97     | 0.07%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 254595 FN 01/33 FIXED 6                      | CUSIP: 31371KXY2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11605 | PA      | $12014.89      | 0.00%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GSAMP TRUST 2007-FM1                                              | GSAMP TRUST GSAMP 2007 FM1 A1                          | CUSIP: 3622MAAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     828296 | PA      | $445996.68     | 0.04%             | 2036-12-25      | Floating      | 3.99%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 765345 FN 06/34 FIXED 5.5                    | CUSIP: 31404DHW1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      36631 | PA      | $37205.40      | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RA5057 FR 04/51 FIXED 3              | CUSIP: 3133KLTN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6594054 | PA      | $5840683.91    | 0.49%             | 2051-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2014-42                                         | FANNIE MAE FNR 2014 42 SA                              | CUSIP: 3136AKPR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     285759 | PA      | $11750.18      | 0.00%             | 2044-07-25      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02700 FG 01/37 FIXED 6.5            | CUSIP: 3128M4KM4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1077 | PA      | $1133.56       | 0.00%             | 2037-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 724390 GN 10/39 FIXED 4.5                    | CUSIP: 3620AAXT0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      70627 | PA      | $70626.95      | 0.01%             | 2039-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4142                                           | FREDDIE MAC FHR 4142 KI                                | CUSIP: 3137AX5M1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     354184 | PA      | $6971.38       | 0.00%             | 2027-12-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GSAMP TRUST 2006-S6                                               | GSAMP TRUST GSAMP 2006 S6 A1B                          | CUSIP: 36245CAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    7470407 | PA      | $34253.31      | 0.00%             | 2036-10-25      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 701501 GN 12/38 FIXED 5                      | CUSIP: 36296UKN9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5126 | PA      | $5276.01       | 0.00%             | 2038-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 1G2602 FH 10/36 FLOATING VAR         | CUSIP: 3128QS3K0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22892 | PA      | $23569.40      | 0.00%             | 2036-10-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256393 FN 09/36 FIXED 6                      | CUSIP: 31371MXW2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      40672 | PA      | $43037.68      | 0.00%             | 2036-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 4.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F042616<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   44100000 | PA      | $43058205.86   | 3.63%             | 2055-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ACE SECURITIES CORP 2005-HE7                                      | ACE SECURITIES CORP. ACE 2005 HE7 M1                   | CUSIP: 004421UC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      62209 | PA      | $70575.33      | 0.01%             | 2035-11-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A55128 FG 12/36 FIXED 5.5            | CUSIP: 3128KHVV5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3441 | PA      | $3542.98       | 0.00%             | 2036-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 175344 GN 07/29 FIXED 6.5                    | CUSIP: 36216UWD5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        699 | PA      | $712.65        | 0.00%             | 2029-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.48000 02/07/25-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $246926.11     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRIPS 389                                            | FREDDIEMAC STRIP FHS 389 C40                           | CUSIP: 31325YRU4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   37926967 | PA      | $5860802.21    | 0.49%             | 2052-10-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 254933 FN 09/33 FIXED 6.5                    | CUSIP: 31371LEE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2352 | PA      | $2442.45       | 0.00%             | 2033-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2018-28                                         | FANNIE MAE FNR 2018 28 CA                              | CUSIP: 3136B1P32<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     222409 | PA      | $199795.58     | 0.02%             | 2048-05-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH MTGE LOAN TRUST 2004-4                                 | LONG BEACH MORTGAGE LOAN TRUST LBMLT 2004 4 1A1        | CUSIP: 542514HN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      51938 | PA      | $50850.05      | 0.00%             | 2034-10-25      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 732941 GN 01/40 FIXED 5.5                    | CUSIP: 3620ALHS6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21930 | PA      | $22673.47      | 0.00%             | 2040-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 137825 FN 10/31 FLOATING VAR                 | CUSIP: 31365UA23<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10517 | PA      | $10281.59      | 0.00%             | 2031-10-01      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A43941 FG 03/36 FIXED 5.5            | CUSIP: 3128K4LW3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14047 | PA      | $14710.38      | 0.00%             | 2036-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 3 SINGLE FAMILY MORTGAGE                | CUSIP: 01F030611<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4700000 | PA      | $4157847.67    | 0.35%             | 2056-01-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 689545 FN 01/33 FIXED 6                      | CUSIP: 31400KBN5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        403 | PA      | $413.60        | 0.00%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 005176 G2 09/41 FIXED 5                   | CUSIP: 36202FXD3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4210 | PA      | $4324.82       | 0.00%             | 2041-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 780443 FH 03/33 FLOATING VAR         | CUSIP: 31342AP45<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22148 | PA      | $22658.62      | 0.00%             | 2033-03-01      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 949542 FN 10/37 FIXED 6                      | CUSIP: 31413MLX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      61800 | PA      | $63934.13      | 0.01%             | 2037-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 689631 FN 02/33 FIXED 5.5                    | CUSIP: 31400KEC6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3768 | PA      | $3821.48       | 0.00%             | 2033-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 3635                                           | FREDDIE MAC FHR 3635 IB                                | CUSIP: 31398WJ21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      84726 | PA      | $4243.00       | 0.00%             | 2037-10-15      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06729 FG 08/40 FIXED 5.5            | CUSIP: 3128M8Y24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      62656 | PA      | $65216.81      | 0.01%             | 2040-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 995736 FN 05/37 FIXED VAR                    | CUSIP: 31416CEH5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     160474 | PA      | $167595.03     | 0.01%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91389 FG 08/31 FIXED 4              | CUSIP: 3128P7RJ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5305 | PA      | $5303.01       | 0.00%             | 2031-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2004-25                                    | COUNTRYWIDE HOME LOANS CWHL 2004 25 2A1                | CUSIP: 12669GKF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       5070 | PA      | $4777.08       | 0.00%             | 2035-02-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03837 FG 02/38 FIXED 5.5            | CUSIP: 3128M5S27<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2435 | PA      | $2541.27       | 0.00%             | 2038-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03498 FG 11/37 FIXED 5.5            | CUSIP: 3128M5GF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2349 | PA      | $2460.03       | 0.00%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008788 G2 01/26 FLOATING VAR              | CUSIP: 36202KXR1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |          7 | PA      | $7.46          | 0.00%             | 2026-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AU4789 G2 11/46 FIXED 3.5                 | CUSIP: 36194SKA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     147636 | PA      | $136295.15     | 0.01%             | 2046-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2015-73                                         | FANNIE MAE FNR 2015 73 ES                              | CUSIP: 3136AP7M8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     891419 | PA      | $597454.26     | 0.05%             | 2045-10-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04320 FG 02/38 FIXED 6              | CUSIP: 3128M6DZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4558 | PA      | $4771.25       | 0.00%             | 2038-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91211 FG 08/28 FIXED 6              | CUSIP: 3128P7KY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2988 | PA      | $3069.69       | 0.00%             | 2028-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 904453 FN 11/36 FIXED 6                      | CUSIP: 31411CZS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4762 | PA      | $4948.83       | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A84160 FG 01/39 FIXED 5.5            | CUSIP: 312930TR1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      60940 | PA      | $63600.36      | 0.01%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782789 GN 10/39 FIXED 5.5                    | CUSIP: 36241LC20<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2934 | PA      | $3083.90       | 0.00%             | 2039-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04567 FG 07/38 FIXED 5.5            | CUSIP: 3128M6MQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20840 | PA      | $21762.59      | 0.00%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 780090 FH 12/32 FLOATING VAR         | CUSIP: 31342AC31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4042 | PA      | $4125.97       | 0.00%             | 2032-12-01      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2016-180                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2016 180 WI         | CUSIP: 38376T6N7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     604339 | PA      | $27222.16      | 0.00%             | 2045-09-20      | Floating      | 0.83%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 060679 FN 01/28 FLOATING VAR                 | CUSIP: 31362GM40<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        153 | PA      | $152.12        | 0.00%             | 2028-01-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782655 GN 05/39 FIXED 5.5                    | CUSIP: 36241K5Q7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      31068 | PA      | $32655.94      | 0.00%             | 2039-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 604639 GN 09/33 FIXED 5                      | CUSIP: 36200MV83<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        983 | PA      | $997.64        | 0.00%             | 2033-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 663884 GN 02/37 FIXED 6                      | CUSIP: 36294YRD8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5539 | PA      | $5708.09       | 0.00%             | 2037-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 886110 FN 07/36 FIXED 6                      | CUSIP: 31410DN30<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2532 | PA      | $2646.89       | 0.00%             | 2036-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002989 G2 10/30 FIXED 8.5                 | CUSIP: 36202DKA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        901 | PA      | $943.59        | 0.00%             | 2030-10-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01469 FG 12/32 FIXED 5.5            | CUSIP: 31283HT21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        792 | PA      | $823.71        | 0.00%             | 2032-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BT6314 G2 05/50 FIXED 3                   | CUSIP: 3617MVAP0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     861961 | PA      | $763117.83     | 0.06%             | 2050-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 852304 FN 02/36 FIXED 6                      | CUSIP: 31408H3M5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4699 | PA      | $4872.58       | 0.00%             | 2036-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ASSET BACKED SECURITIES TRUST 2004-HE1               | BEAR STEARNS ASSET BACKED SECU BSABS 2004 HE1 M1       | CUSIP: 07384YPX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     253651 | PA      | $260868.84     | 0.02%             | 2034-02-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ADJUSTABLE RT MTGE LN 2007-9                           | STRUCTURED ADJUSTABLE RATE MOR SARM 2007 9 1A1         | CUSIP: 86364JAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     605952 | PA      | $558052.11     | 0.05%             | 2037-10-25      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4945                                           | FREDDIE MAC FHR 4945 F                                 | CUSIP: 3137FQLE1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     308213 | PA      | $304348.56     | 0.03%             | 2046-12-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 532706 GN 07/30 FIXED 8.5                    | CUSIP: 36212FYB4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2335 | PA      | $2431.96       | 0.00%             | 2030-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 252342 FN 04/29 FIXED 6.5                    | CUSIP: 31371HHT8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         75 | PA      | $77.58         | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08111 FG 02/36 FIXED 5.5            | CUSIP: 3128MJDR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15589 | PA      | $16325.76      | 0.00%             | 2036-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 896113 FN 06/36 FIXED 6                      | CUSIP: 31410SSA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14398 | PA      | $14780.18      | 0.00%             | 2036-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782278 GN 02/38 FIXED 5.5                    | CUSIP: 36241KQ76<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        509 | PA      | $532.74        | 0.00%             | 2038-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 694182 GN 10/38 FIXED 6                      | CUSIP: 36296LFX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4221 | PA      | $4368.77       | 0.00%             | 2038-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C01648 FG 10/33 FIXED 5              | CUSIP: 31292HZM9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2141 | PA      | $2179.61       | 0.00%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 822615 FN 05/35 FIXED 6.5                    | CUSIP: 31406W3Y8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      31340 | PA      | $32846.20      | 0.00%             | 2035-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080104 G2 08/27 FLOATING VAR              | CUSIP: 36225CDJ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        473 | PA      | $476.72        | 0.00%             | 2027-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 467628 GN 03/29 FIXED 6.5                    | CUSIP: 36209CPM2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        761 | PA      | $789.13        | 0.00%             | 2029-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 923928 FN 06/37 FIXED 6                      | CUSIP: 31412FPM9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6211 | PA      | $6493.20       | 0.00%             | 2037-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06249 FG 05/40 FIXED 6              | CUSIP: 3128M8H23<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4274 | PA      | $4513.75       | 0.00%             | 2040-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91194 FG 07/28 FIXED 5              | CUSIP: 3128P7KF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        324 | PA      | $326.77        | 0.00%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 792592 FN 08/34 FIXED 6.5                    | CUSIP: 31405LRM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5303 | PA      | $5550.21       | 0.00%             | 2034-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782542 GN 01/39 FIXED 4.5                    | CUSIP: 36241KZF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     177656 | PA      | $178378.29     | 0.02%             | 2039-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MASTR ADJ RATE MTGE TRUST 2007-HF1                                | MASTR ADJUSTABLE RATE MORTGAGE MARM 2007 HF1 A1        | CUSIP: 57645RAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     315067 | PA      | $126803.09     | 0.01%             | 2037-05-25      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783024 GN 07/40 FIXED 5                      | CUSIP: 36241LLD6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      19476 | PA      | $20025.80      | 0.00%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 782244 FN 07/34 FIXED 5.5                    | CUSIP: 31404YBM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16997 | PA      | $17244.41      | 0.00%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY MORTGAGE TRUST-2005-3AR                            | MORGAN STANLEY MORTGAGE LOAN T MSM 2005 3AR 3A         | CUSIP: 61745M4R1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     240778 | PA      | $194205.27     | 0.02%             | 2035-07-25      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080407 G2 05/30 FLOATING VAR              | CUSIP: 36225CNZ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3351 | PA      | $3367.29       | 0.00%             | 2030-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 948731 FN 08/37 FIXED 6.5                    | CUSIP: 31413LPQ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22634 | PA      | $23495.27      | 0.00%             | 2037-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01953 FG 10/35 FIXED 4.5            | CUSIP: 3128LXE22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     120194 | PA      | $121437.03     | 0.01%             | 2035-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 5 SINGLE FAMILY MORTGAGE                | CUSIP: 01F050619<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   64400000 | PA      | $64233969.07   | 5.41%             | 2055-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 788825 FH 11/31 FLOATING VAR         | CUSIP: 31295MYW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        191 | PA      | $196.10        | 0.00%             | 2031-11-01      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q01242 FG 06/41 FIXED 5.5            | CUSIP: 3132GELX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18170 | PA      | $18633.35      | 0.00%             | 2041-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL9521 FN 10/46 FIXED VAR                    | CUSIP: 3138ERSK7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     168660 | PA      | $153368.91     | 0.01%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 507686 GN 07/30 FIXED 8.5                    | CUSIP: 36211A6X9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8151 | PA      | $8238.80       | 0.00%             | 2030-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 823498 FN 05/35 FIXED 6                      | CUSIP: 31406X3F7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6246 | PA      | $6465.29       | 0.00%             | 2035-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FS1907 FN 07/47 FIXED VAR                    | CUSIP: 3140XHDM6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     708335 | PA      | $677922.85     | 0.06%             | 2047-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MORTGAGE LOAN TR 2006-AR4                            | INDYMAC INDX MORTGAGE LOAN TRU INDX 2006 AR4 A1A       | CUSIP: 45661EAV6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     404148 | PA      | $375285.80     | 0.03%             | 2046-05-25      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 986946 FN 09/38 FIXED 6                      | CUSIP: 31415RL36<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1167 | PA      | $1218.94       | 0.00%             | 2038-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE-G96-3                                                  | FANNIE MAE FNR G96 3 Z                                 | CUSIP: 31359KV87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11789 | PA      | $11838.78      | 0.00%             | 2026-11-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 863673 FN 03/36 FIXED 6                      | CUSIP: 31408XQ29<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4116 | PA      | $4319.99       | 0.00%             | 2036-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA0782 G2 02/43 FIXED 3                   | CUSIP: 36179M2P4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2848683 | PA      | $2638574.55    | 0.22%             | 2043-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 769802 FN 03/34 FIXED 5.5                    | CUSIP: 31404JGK5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      19157 | PA      | $19437.13      | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HARBORVIEW MORTGAGE LOAN TR 2004-8                                | HARBORVIEW MORTGAGE LOAN TRUST HVMLT 2004 8 3A1        | CUSIP: 41161PHE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      13810 | PA      | $11603.09      | 0.00%             | 2034-11-19      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.71000 03/12/24-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $-43944.09     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 993549 FN 04/39 FIXED 4                      | CUSIP: 31415YWJ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      59742 | PA      | $58623.85      | 0.00%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008844 G2 03/26 FLOATING VAR              | CUSIP: 36202KZH1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         45 | PA      | $44.72         | 0.00%             | 2026-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2107                                                  | FREDDIE MAC FHR 2107 G                                 | CUSIP: 3133TGZG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12872 | PA      | $12931.67      | 0.00%             | 2028-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 535126 FN 12/28 FIXED VAR                    | CUSIP: 31384VPK2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7232 | PA      | $7422.46       | 0.00%             | 2028-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A71523 FG 01/38 FIXED 5.5            | CUSIP: 3128L4VQ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12350 | PA      | $12865.10      | 0.00%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781205 GN 07/30 FIXED 8.5                    | CUSIP: 36225BKS6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1148 | PA      | $1190.56       | 0.00%             | 2030-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 698649 GN 11/38 FIXED 6                      | CUSIP: 36296REW3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7603 | PA      | $7871.23       | 0.00%             | 2038-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04625 FG 06/36 FIXED 6              | CUSIP: 3128M6PJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6345 | PA      | $6672.59       | 0.00%             | 2036-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 902164 FN 11/36 FIXED 6                      | CUSIP: 31411AJH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18189 | PA      | $19246.06      | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 674772 FN 01/33 FIXED 6                      | CUSIP: 31391RT51<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12144 | PA      | $12464.19      | 0.00%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 623611 FN 02/32 FIXED 6                      | CUSIP: 31389EYG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      57187 | PA      | $58693.48      | 0.00%             | 2032-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04573 FG 07/38 FIXED 5.5            | CUSIP: 3128M6MW5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15500 | PA      | $16185.86      | 0.00%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 828064 FN 06/35 FIXED 6                      | CUSIP: 31407D5Z4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2064 | PA      | $2181.25       | 0.00%             | 2035-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 677064 GN 07/38 FIXED 5.5                    | CUSIP: 36295QFD7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      34559 | PA      | $35700.76      | 0.00%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANC OF AMERICA MTGE SEC 2004-F                                   | BANC OF AMERICA MORTGAGE SECUR BOAMS 2004 F 1A1        | CUSIP: 05949AHR4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        599 | PA      | $578.46        | 0.00%             | 2034-07-25      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 415389 GN 09/29 FIXED 8.5                    | CUSIP: 36206MNE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        428 | PA      | $434.83        | 0.00%             | 2029-09-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 789133 FH 03/32 FLOATING VAR         | CUSIP: 31295NEE4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1675 | PA      | $1710.85       | 0.00%             | 2032-03-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDB MTGE LOAN TRUST 2005-1                               | INDYMAC INDB MORTGAGE LOAN TRU INDB 2005 1 A1          | CUSIP: 45660LYW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      77461 | PA      | $45038.81      | 0.00%             | 2035-11-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.56000 04/10/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $14277.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 678060 FN 01/33 FIXED 6                      | CUSIP: 31391VJD6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15598 | PA      | $16284.38      | 0.00%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 847709 FH 07/35 FLOATING VAR         | CUSIP: 3128JRR65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      64363 | PA      | $66161.77      | 0.01%             | 2035-07-01      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2019-6                                   | JP MORGAN MORTGAGE TRUST JPMMT 2019 6 A11 144A         | CUSIP: 46651BAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1075223 | PA      | $1036335.85    | 0.09%             | 2049-12-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A29582 FG 01/35 FIXED 4.5            | CUSIP: 31297HUF4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15306 | PA      | $15333.85      | 0.00%             | 2035-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS5159 FN 06/30 FIXED 3                      | CUSIP: 3138WEWV7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10852 | PA      | $10675.55      | 0.00%             | 2030-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CENTEX HOME EQUITY 2002-A                                         | CENTEX HOME EQUITY CXHE 2002 A MV1                     | CUSIP: 152314ER7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     159675 | PA      | $175885.39     | 0.01%             | 2032-01-25      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775641 FN 05/34 FIXED 5.5                    | CUSIP: 31404QWA3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      79779 | PA      | $81168.79      | 0.01%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GALLATIN FUNDING LTD, GALLATIN CLO VII LLC 2017-1A                | GALLATIN LOAN MANAGEMENT, LLC GALL 2017 1A A1R 144A    | CUSIP: 36361UAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2303735 | PA      | $2305006.05    | 0.19%             | 2031-07-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004924 G2 01/41 FIXED 5                   | CUSIP: 36202FPH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      36526 | PA      | $37602.27      | 0.00%             | 2041-01-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2015-126                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2015 126 GS         | CUSIP: 38379QFL4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1736402 | PA      | $1163965.35    | 0.10%             | 2045-09-20      | Floating      | 0.03%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04629 FG 01/29 FIXED 6              | CUSIP: 3128M6PN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1713 | PA      | $1759.41       | 0.00%             | 2029-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2019-2                                   | JP MORGAN MORTGAGE TRUST JPMMT 2019 2 A11 144A         | CUSIP: 46650TAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     534344 | PA      | $511708.69     | 0.04%             | 2049-08-25      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 786384 FN 07/34 FIXED 6                      | CUSIP: 31405DUH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     223926 | PA      | $236079.13     | 0.02%             | 2034-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 678100 GN 01/39 FIXED 5.5                    | CUSIP: 36295RKM9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9025 | PA      | $9295.51       | 0.00%             | 2039-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2005-AR14                                       | WAMU MORTGAGE PASS THROUGH CER WAMU 2005 AR14 1A4      | CUSIP: 92922F4D7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      73251 | PA      | $69183.60      | 0.01%             | 2035-12-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| CHEVY CHASE MTGE FUNDING CORP 2004-3A                             | CHEVY CHASE MORTGAGE FUNDING C CCMFC 2004 3A A1 144A   | CUSIP: 16678RBU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      56597 | PA      | $55430.91      | 0.00%             | 2035-08-25      | Floating      | 4.10%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04626 FG 05/31 FIXED 6              | CUSIP: 3128M6PK8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         70 | PA      | $71.55         | 0.00%             | 2031-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A44573 FG 04/36 FIXED 5.5            | CUSIP: 3128K5CJ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13604 | PA      | $14166.78      | 0.00%             | 2036-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002826 G2 10/29 FIXED 8                   | CUSIP: 36202DD73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2439 | PA      | $2525.24       | 0.00%             | 2029-10-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| INDYMAC ARM TRUST 2001-H2                                         | INDYMAC ARM TRUST INARM 2001 H2 A2                     | CUSIP: 45660UAT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        158 | PA      | $153.28        | 0.00%             | 2032-01-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 612919 GN 07/33 FIXED 5                      | CUSIP: 36202X4C8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        770 | PA      | $789.99        | 0.00%             | 2033-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AA3975 FN 04/38 FIXED 5.5                    | CUSIP: 31416MMZ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14885 | PA      | $15100.05      | 0.00%             | 2038-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AB7673 FN 01/33 FIXED 2.5                    | CUSIP: 31417EQ38<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1326589 | PA      | $1269203.84    | 0.11%             | 2033-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 889890 FN 01/38 FIXED VAR                    | CUSIP: 31410KUP7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     231386 | PA      | $245293.35     | 0.02%             | 2038-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA0465 G2 10/42 FIXED 5                   | CUSIP: 36179MQS2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20178 | PA      | $20765.70      | 0.00%             | 2042-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 808202 FN 01/35 FIXED 5.5                    | CUSIP: 31406E3K8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15286 | PA      | $15507.93      | 0.00%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03112 FG 06/37 FIXED 6.5            | CUSIP: 3128M4YH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7956 | PA      | $8318.99       | 0.00%             | 2037-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03696 FG 01/38 FIXED 5.5            | CUSIP: 3128M5NM8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        238 | PA      | $249.46        | 0.00%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RQ0055 FR 10/55 FIXED 5              | CUSIP: 3142J6BZ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2697209 | PA      | $2691425.69    | 0.23%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782135 GN 01/37 FIXED 5.5                    | CUSIP: 36241KLQ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9274 | PA      | $9655.03       | 0.00%             | 2037-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03870 FG 02/38 FIXED 5              | CUSIP: 3128M5T34<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10254 | PA      | $10552.39      | 0.00%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A14446 FG 10/33 FIXED 5              | CUSIP: 31296N5F0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      40111 | PA      | $40175.86      | 0.00%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2006-AR3                                        | WAMU MORTGAGE PASS THROUGH CER WAMU 2006 AR3 A1A       | CUSIP: 92925CDA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     398171 | PA      | $369296.35     | 0.03%             | 2046-02-25      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080029 G2 01/27 FLOATING VAR              | CUSIP: 36225CA71<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        356 | PA      | $356.22        | 0.00%             | 2027-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 559800 FN 09/40 FLOATING VAR                 | CUSIP: 31386C3H3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14983 | PA      | $14986.98      | 0.00%             | 2040-09-01      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 550876 GN 09/31 FIXED 5.5                    | CUSIP: 36213C6M7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        391 | PA      | $395.76        | 0.00%             | 2031-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 899732 FN 09/37 FIXED 6.5                    | CUSIP: 31410WSV1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15155 | PA      | $16093.85      | 0.00%             | 2037-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2015-47                                         | FANNIE MAE FNR 2015 47 GI                              | CUSIP: 3136APDE9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      33974 | PA      | $1671.52       | 0.00%             | 2044-06-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BN5883 FN 03/49 FIXED 5                      | CUSIP: 3140JNRD4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     199864 | PA      | $201947.14     | 0.02%             | 2049-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 692176 GN 07/39 FIXED 6.5                    | CUSIP: 36296H6M6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        352 | PA      | $380.82        | 0.00%             | 2039-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 804644 FN 12/34 FIXED 5.5                    | CUSIP: 31406A5D0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        670 | PA      | $697.30        | 0.00%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A76298 FG 04/38 FIXED 5              | CUSIP: 3128L97K3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7315 | PA      | $7523.25       | 0.00%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 782431 G2 10/38 FIXED 5                   | CUSIP: 36241KVY1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      60861 | PA      | $62587.09      | 0.01%             | 2038-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 052597 FN 07/27 FLOATING VAR                 | CUSIP: 313617NN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        251 | PA      | $249.25        | 0.00%             | 2027-07-01      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.75000 06/20/24-7Y CME                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $-591788.47    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04684 FG 09/38 FIXED 5.5            | CUSIP: 3128M6RD2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        896 | PA      | $926.49        | 0.00%             | 2038-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 886653 FN 08/36 FIXED 6                      | CUSIP: 31410EBW7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1325 | PA      | $1373.98       | 0.00%             | 2036-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BJ6388 FN 02/48 FIXED 4                      | CUSIP: 3140H8C29<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     587546 | PA      | $567162.13     | 0.05%             | 2048-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AD7898 FN 07/40 FIXED 4.5                    | CUSIP: 31418VX49<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      58683 | PA      | $59195.05      | 0.00%             | 2040-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTG INV INC 2007-AR2                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2007 AR2 2A1       | CUSIP: 86363DAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      56871 | PA      | $21859.00      | 0.00%             | 2037-03-25      | Floating      | 4.11%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 668895 FN 10/32 FIXED 6                      | CUSIP: 31391KC88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5326 | PA      | $5466.48       | 0.00%             | 2032-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AH1684 FN 09/41 FIXED 4                      | CUSIP: 3138A22S7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      33473 | PA      | $32726.00      | 0.00%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AB4989 FN 04/27 FIXED 2                      | CUSIP: 31417BRK5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1296 | PA      | $1280.01       | 0.00%             | 2027-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91167 FG 04/28 FIXED 5              | CUSIP: 3128P7JL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13221 | PA      | $13335.73      | 0.00%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA3310 G2 12/45 FIXED 3.5                 | CUSIP: 36179RVB2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3467986 | PA      | $3228693.89    | 0.27%             | 2045-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 750711 FN 10/33 FIXED 6.5                    | CUSIP: 31403KAL7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5772 | PA      | $5991.28       | 0.00%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 745636 FN 06/35 FIXED VAR                    | CUSIP: 31403DLR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     219825 | PA      | $231980.36     | 0.02%             | 2035-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 922213 FN 11/36 FIXED 5.5                    | CUSIP: 31412DSA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7474 | PA      | $7578.87       | 0.00%             | 2036-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AA8498 FN 07/37 FIXED 5.5                    | CUSIP: 31416SNQ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      77496 | PA      | $80270.53      | 0.01%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 759000 FN 01/34 FIXED 5.5                    | CUSIP: 31403VGH6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      30801 | PA      | $31250.67      | 0.00%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 780580 GN 06/27 FIXED 7.5                    | CUSIP: 36225AUD0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        112 | PA      | $113.16        | 0.00%             | 2027-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE INTEREST STRIP 386                                     | FANNIEMAE STRIP FNS 386 14                             | CUSIP: 3136FFSR1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      89736 | PA      | $20044.41      | 0.00%             | 2038-04-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A23803 FG 06/34 FIXED 5              | CUSIP: 31297BGL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2112 | PA      | $2149.92       | 0.00%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A75835 FG 04/38 FIXED 5.5            | CUSIP: 3128L9PU1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1807 | PA      | $1875.63       | 0.00%             | 2038-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 886413 FN 08/36 FIXED 6.5                    | CUSIP: 31410DYJ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24015 | PA      | $25192.32      | 0.00%             | 2036-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 847340 FH 11/34 FLOATING VAR         | CUSIP: 3128JREM4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8422 | PA      | $8669.75       | 0.00%             | 2034-11-01      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782365 GN 07/38 FIXED 6                      | CUSIP: 36241KTW8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13404 | PA      | $14158.82      | 0.00%             | 2038-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL CL6189 GN 03/52 FIXED 4                      | CUSIP: 3617YD2W1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2250206 | PA      | $2143277.68    | 0.18%             | 2052-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782474 GN 12/38 FIXED 5.5                    | CUSIP: 36241KXB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25032 | PA      | $26314.14      | 0.00%             | 2038-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QB6642 FR 12/50 FIXED 1.5            | CUSIP: 3133ADLX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      98784 | PA      | $76603.29      | 0.01%             | 2050-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2007-HY4                                   | COUNTRYWIDE HOME LOANS CWHL 2007 HY4 1A1               | CUSIP: 17025RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     201412 | PA      | $180974.58     | 0.02%             | 2047-09-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS9683 FN 10/28 FIXED 5.57                   | CUSIP: 3140LLXM8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     858781 | PA      | $868443.20     | 0.07%             | 2028-10-01      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06954 FG 05/40 FIXED 6              | CUSIP: 3128M9BX9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      26999 | PA      | $28595.77      | 0.00%             | 2040-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5265 G2 06/48 FIXED 4.5                 | CUSIP: 36179TZ65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     239017 | PA      | $237119.31     | 0.02%             | 2048-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM2419 FN 02/50 FIXED VAR                    | CUSIP: 3140X5VM2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   18748450 | PA      | $16634250.94   | 1.40%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL4010 FN 07/43 FIXED VAR                    | CUSIP: 3138ELN41<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        517 | PA      | $493.51        | 0.00%             | 2043-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A93343 FG 08/40 FIXED 5              | CUSIP: 312941WC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5208 | PA      | $5364.28       | 0.00%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BH7500 FN 11/47 FIXED 3.5                    | CUSIP: 3140GWKN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1291880 | PA      | $1203265.96    | 0.10%             | 2047-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 764521 FN 05/34 FIXED 5.5                    | CUSIP: 31404CLA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3804 | PA      | $3964.04       | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C01428 FG 11/32 FIXED 5.5            | CUSIP: 31292HSR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        400 | PA      | $416.37        | 0.00%             | 2032-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AZ8592 GN 04/47 FIXED 4                      | CUSIP: 36197MRM2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     280391 | PA      | $268756.22     | 0.02%             | 2047-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775776 FN 05/34 FIXED 5.5                    | CUSIP: 31404Q2H1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1020 | PA      | $1034.81       | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRIPS 329                                            | FREDDIEMAC STRIP FHS 329 C5                            | CUSIP: 31325VHH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5463911 | PA      | $868008.60     | 0.07%             | 2043-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 676927 GN 04/38 FIXED 5.5                    | CUSIP: 36295QA42<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25367 | PA      | $26510.55      | 0.00%             | 2038-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 410836 FH 08/30 FLOATING VAR         | CUSIP: 31337A4V5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        166 | PA      | $167.47        | 0.00%             | 2030-08-01      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 865171 FN 02/36 FIXED 5.5                    | CUSIP: 31409AFL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         98 | PA      | $101.81        | 0.00%             | 2036-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2006-AR16                                       | WAMU MORTGAGE PASS THROUGH CER WAMU 2006 AR16 1A1      | CUSIP: 92925GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     390410 | PA      | $358598.87     | 0.03%             | 2036-12-25      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 685321 FN 02/33 FIXED 6                      | CUSIP: 31400ELA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2257 | PA      | $2317.16       | 0.00%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 798412 FN 10/34 FIXED 5.5                    | CUSIP: 31405TAM4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        756 | PA      | $779.48        | 0.00%             | 2034-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 617707 FN 05/32 FIXED 6                      | CUSIP: 31388XGQ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5564 | PA      | $5710.66       | 0.00%             | 2032-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2005-AR19                                       | WAMU MORTGAGE PASS THROUGH CER WAMU 2005 AR19 B1       | CUSIP: 92925CBL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     679469 | PA      | $607106.64     | 0.05%             | 2045-12-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MTGE LOAN TRUST 2006-AR19                            | INDYMAC INDX MORTGAGE LOAN TRU INDX 2006 AR19 3A1      | CUSIP: 45660GAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    6313770 | PA      | $5339719.01    | 0.45%             | 2036-08-25      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| CIFC FUNDING LTD 2017-4A                                          | CIFC FUNDING LTD CIFC 2017 4A A1R 144A                 | CUSIP: 12551JAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1073853 | PA      | $1075173.91    | 0.09%             | 2030-10-24      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 734431 GN 05/41 FIXED 4.5                    | CUSIP: 3620AM4Q2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1891 | PA      | $1880.70       | 0.00%             | 2041-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 902551 FN 11/36 FIXED 6                      | CUSIP: 31411AWL5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1386 | PA      | $1462.58       | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AT8165 FN 06/43 FIXED 4                      | CUSIP: 3138WWCB3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1225508 | PA      | $1196933.49    | 0.10%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 742947 FN 10/33 FIXED 5.5                    | CUSIP: 31403AL45<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         33 | PA      | $33.03         | 0.00%             | 2033-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4821                                           | FREDDIE MAC FHR 4821 FL                                | CUSIP: 3137FHED1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     935942 | PA      | $911614.66     | 0.08%             | 2048-06-15      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| MF1 2022-FL9 LLC                                                  | MF1 MULTIFAMILY HOUSING MORTGA MF1 2022 FL9 A 144A     | CUSIP: 55285AAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    2482008 | PA      | $2483353.28    | 0.21%             | 2037-06-19      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 937938 FN 06/37 FIXED 6                      | CUSIP: 31412XPX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4416 | PA      | $4617.31       | 0.00%             | 2037-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 667454 GN 05/37 FIXED 6.5                    | CUSIP: 36295DQF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      19791 | PA      | $20894.55      | 0.00%             | 2037-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782832 GN 12/39 FIXED 5.5                    | CUSIP: 36241LED4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1134 | PA      | $1200.73       | 0.00%             | 2039-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL MTGE 2003-AR8                                   | WAMU MORTGAGE PASS THROUGH CER WAMU 2003 AR8 A         | CUSIP: 92922FAS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      79352 | PA      | $77955.73      | 0.01%             | 2033-08-25      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AO4769 FN 05/42 FIXED 4                      | CUSIP: 3138LVJP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13280 | PA      | $12985.04      | 0.00%             | 2042-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 680512 GN 01/40 FIXED 6                      | CUSIP: 36295UAM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      59300 | PA      | $61257.81      | 0.01%             | 2040-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 609428 GN 06/33 FIXED 5.5                    | CUSIP: 36202UA52<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22690 | PA      | $22903.04      | 0.00%             | 2033-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 462622 GN 03/28 FIXED 6.5                    | CUSIP: 36208V4F9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        529 | PA      | $534.05        | 0.00%             | 2028-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC-2177                                                  | FREDDIE MAC FHR 2177 F                                 | CUSIP: 3133TLPF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        168 | PA      | $168.09        | 0.00%             | 2029-08-15      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 783798 FN 07/34 FIXED 5.5                    | CUSIP: 31405AX32<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25072 | PA      | $25776.91      | 0.00%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2021-INV8                                | JP MORGAN MORTGAGE TRUST JPMMT 2021 INV8 A2 144A       | CUSIP: 46654RAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5879059 | PA      | $5163222.69    | 0.43%             | 2052-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZN2458 FR 12/33 FIXED 3.5            | CUSIP: 3131Y8WT8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13214 | PA      | $13010.67      | 0.00%             | 2033-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A10364 FG 06/33 FIXED 5.5            | CUSIP: 31296JMM5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9192 | PA      | $9335.31       | 0.00%             | 2033-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 4836                                                  | FREDDIE MAC FHR 4836 PO                                | CUSIP: 3137FJE21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    8785446 | PA      | $5436631.84    | 0.46%             | 2058-10-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A72770 FG 02/38 FIXED 5.5            | CUSIP: 3128L6CF4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      54406 | PA      | $56749.16      | 0.00%             | 2038-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 881602 FN 02/36 FIXED 6.5                    | CUSIP: 31409XNT2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        696 | PA      | $737.08        | 0.00%             | 2036-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL4287 FN 11/40 FIXED VAR                    | CUSIP: 3138ELXR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1630025 | PA      | $1724874.52    | 0.15%             | 2040-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2005-3                                     | COUNTRYWIDE HOME LOANS CWHL 2005 3 1A2                 | CUSIP: 12669GTQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     177567 | PA      | $171571.37     | 0.01%             | 2035-04-25      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04723 FG 03/38 FIXED 5              | CUSIP: 3128M6SL3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        920 | PA      | $947.40        | 0.00%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 530071 GN 08/30 FIXED 8.5                    | CUSIP: 36212C2C4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        253 | PA      | $255.61        | 0.00%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A92821 FG 07/40 FIXED 5              | CUSIP: 312941D20<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1782 | PA      | $1835.48       | 0.00%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZK8554 FR 02/32 FIXED 2.5            | CUSIP: 3131XCQF7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      42275 | PA      | $40900.19      | 0.00%             | 2032-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SECURITIZED ASSET BACKED RECEIVABLES LLC 2007-HE1                 | SECURITIZED ASSET BACKED RECEI SABR 2007 HE1 A2A       | CUSIP: 81377JAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1983899 | PA      | $416349.18     | 0.04%             | 2036-12-25      | Floating      | 3.97%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2013-34                                         | FANNIE MAE FNR 2013 34 PS                              | CUSIP: 3136ADQR3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1893078 | PA      | $124690.02     | 0.01%             | 2042-08-25      | Floating      | 2.16%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4367                                           | FREDDIE MAC FHR 4367 GS                                | CUSIP: 3137BCL55<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      97989 | PA      | $5330.96       | 0.00%             | 2037-03-15      | Floating      | 1.74%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 674999 GN 12/37 FIXED 6                      | CUSIP: 36295M3G2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6776 | PA      | $7134.34       | 0.00%             | 2037-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2012-57                                         | FANNIE MAE FNR 2012 57 SC                              | CUSIP: 3136A6HS6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     378504 | PA      | $336985.37     | 0.03%             | 2042-06-25      | Floating      | 2.58%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 698060 GN 02/39 FIXED 5.5                    | CUSIP: 36296QQM4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28122 | PA      | $29147.21      | 0.00%             | 2039-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 739755 FN 01/34 FIXED 5.5                    | CUSIP: 31402VZU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      49223 | PA      | $50381.47      | 0.00%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MF1 2021-FL7 LTD                                                  | MF1 MULTIFAMILY HOUSING MORTGA MF1 2021 FL7 A 144A     | CUSIP: 55284AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1302396 | PA      | $1301419.97    | 0.11%             | 2036-10-16      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH MORTGAGE INVESTO-2006-RM5                           | MERRILL LYNCH MORTGAGE INVESTO MLMI 2006 RM5 A2A       | CUSIP: 59023FAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     942542 | PA      | $137928.36     | 0.01%             | 2037-10-25      | Floating      | 3.97%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA8528 FN 01/51 FIXED 2.5                    | CUSIP: 3140QGPN1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4327371 | PA      | $3674832.07    | 0.31%             | 2051-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06021 FG 01/40 FIXED 5.5            | CUSIP: 3128M8AW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      46456 | PA      | $48526.42      | 0.00%             | 2040-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A77314 FG 05/38 FIXED 5.5            | CUSIP: 3128LBDT2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        141 | PA      | $146.93        | 0.00%             | 2038-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2415                                                  | FREDDIE MAC FHR 2415 ZA                                | CUSIP: 31339DKU1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3382 | PA      | $3545.22       | 0.00%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QA4115 FR 11/49 FIXED 3              | CUSIP: 31339USC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2590165 | PA      | $2342126.43    | 0.20%             | 2049-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTG INV INC 2005-AR5                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2005 AR5 A1        | CUSIP: 86359LPD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      71168 | PA      | $69289.49      | 0.01%             | 2035-07-19      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 618650 GN 09/36 FIXED 6.5                    | CUSIP: 36290VH31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        392 | PA      | $415.11        | 0.00%             | 2036-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 928932 FN 11/37 FIXED 6.5                    | CUSIP: 31412MA99<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11058 | PA      | $11677.14      | 0.00%             | 2037-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256856 FN 08/27 FIXED 6.5                    | CUSIP: 31371NH99<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        197 | PA      | $204.31        | 0.00%             | 2027-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 787239 FH 07/30 FLOATING VAR         | CUSIP: 31295LBG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1044 | PA      | $1063.62       | 0.00%             | 2030-07-01      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| RENAISSANCE HOME EQ LN TRUST 2002-3                               | RENAISSANCE HOME EQUITY LOAN T RAMC 2002 3 A           | CUSIP: 75970NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      13514 | PA      | $12921.85      | 0.00%             | 2032-12-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE SECURITIES CORP TRUST 2018-TWR                        | GS MORTGAGE SECURITIES TRUST GSMS 2018 TWR A 144A      | CUSIP: 36251SAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2000000 | PA      | $1553519.00    | 0.13%             | 2031-07-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 303463 FN 06/29 FLOATING VAR                 | CUSIP: 31373UB89<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         80 | PA      | $79.20         | 0.00%             | 2029-06-01      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 774936 FN 04/34 FIXED 5.5                    | CUSIP: 31404P4V0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13960 | PA      | $14163.64      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 776396 FN 04/34 FIXED 5.5                    | CUSIP: 31404RRR0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3120 | PA      | $3225.50       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C01051 FG 09/30 FIXED 8              | CUSIP: 31292HEY6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        143 | PA      | $149.10        | 0.00%             | 2030-09-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 776704 FN 05/34 FIXED 5.5                    | CUSIP: 31404R3M7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     144531 | PA      | $148593.78     | 0.01%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04590 FG 03/32 FIXED 5.5            | CUSIP: 3128M6NF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         77 | PA      | $79.68         | 0.00%             | 2032-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ASSET BACKED SEC CORP HEQ LN 2001-HE2                             | ASSET BACKED SECURITIES CORP H ABSHE 2001 HE2 A1       | CUSIP: 04541GBN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     183479 | PA      | $180329.36     | 0.02%             | 2031-06-15      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BT3502 GN 02/50 FIXED 3.5                    | CUSIP: 3617MR3K8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     115694 | PA      | $105844.06     | 0.01%             | 2050-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A83694 FG 12/38 FIXED 5.5            | CUSIP: 312930C73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      39370 | PA      | $39973.58      | 0.00%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003029 G2 01/31 FIXED 8.5                 | CUSIP: 36202DLJ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2954 | PA      | $3097.38       | 0.00%             | 2031-01-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM3241 FN 03/50 FIXED VAR                    | CUSIP: 3140X6S77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   13274842 | PA      | $11954445.77   | 1.01%             | 2050-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ASSET BACKED FUNDING CERTS 2004-OPT5                              | ASSET BACKED FUNDING CERTIFICA ABFC 2004 OPT5 A1       | CUSIP: 04542BJY9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      80839 | PA      | $81167.03      | 0.01%             | 2034-06-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A49539 FG 06/36 FIXED 5.5            | CUSIP: 3128KAS44<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      35411 | PA      | $36530.65      | 0.00%             | 2036-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 773676 FN 04/34 FIXED 5.5                    | CUSIP: 31404NQ58<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6347 | PA      | $6437.97       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002645 G2 09/28 FIXED 7                   | CUSIP: 36202C5E9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        692 | PA      | $711.77        | 0.00%             | 2028-09-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA3105 G2 09/45 FIXED 3.5                 | CUSIP: 36179RNW5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1753261 | PA      | $1634373.20    | 0.14%             | 2045-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM7534 FN 04/50 FIXED VAR                    | CUSIP: 3140XBLQ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     278288 | PA      | $260081.62     | 0.02%             | 2050-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782404 GN 09/38 FIXED 5.5                    | CUSIP: 36241KU55<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51055 | PA      | $53623.10      | 0.00%             | 2038-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 778266 FN 05/34 FIXED 5.5                    | CUSIP: 31404TTX1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      58703 | PA      | $59562.41      | 0.01%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02162 FG 05/36 FIXED 5.5            | CUSIP: 3128LXMK3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8628 | PA      | $9036.05       | 0.00%             | 2036-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 725815 FN 12/33 FIXED VAR                    | CUSIP: 31402DK41<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4626 | PA      | $4769.68       | 0.00%             | 2033-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AD0497 FN 11/39 FIXED VAR                    | CUSIP: 31418MRT1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1034200 | PA      | $1078428.46    | 0.09%             | 2039-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS4556 FN 03/40 FIXED 3.5                    | CUSIP: 3138WEB24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     454233 | PA      | $438544.43     | 0.04%             | 2040-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BD0549 G2 08/48 FIXED 5                   | CUSIP: 3617BFTE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      92393 | PA      | $91598.04      | 0.01%             | 2048-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 806506 FN 10/44 FLOATING VAR                 | CUSIP: 31406DAF3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      37176 | PA      | $37636.34      | 0.00%             | 2044-10-01      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QG5084 FR 06/53 FIXED 5              | CUSIP: 3133C5UH2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     107247 | PA      | $108719.16     | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHR 2046                                                          | FREDDIE MAC FHR 2046 G                                 | CUSIP: 3133TDCL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        771 | PA      | $781.15        | 0.00%             | 2028-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080047 G2 02/27 FLOATING VAR              | CUSIP: 36225CBR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3121 | PA      | $3125.04       | 0.00%             | 2027-02-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 252111 FN 09/28 FIXED 6.5                    | CUSIP: 31371HAL2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        310 | PA      | $322.05        | 0.00%             | 2028-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MLCC MORTGAGE INVESTORS INC. 2003-F                               | MLCC MORTGAGE INVESTORS INC MLCC 2003 F A2             | CUSIP: 5899292N7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       2170 | PA      | $2148.44       | 0.00%             | 2028-10-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05283 FG 01/39 FIXED 5.5            | CUSIP: 3128M7FY7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4159 | PA      | $4347.84       | 0.00%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 722759 GN 08/39 FIXED 6                      | CUSIP: 3620A85U3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12418 | PA      | $12831.44      | 0.00%             | 2039-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080272 G2 04/29 FLOATING VAR              | CUSIP: 36225CJS6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1049 | PA      | $1049.55       | 0.00%             | 2029-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA1160 G2 07/43 FIXED 5                   | CUSIP: 36179NJD1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     187294 | PA      | $192811.22     | 0.02%             | 2043-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MELLON RESIDENTIAL FUND CORP 2000-TBC3                            | MELLON RESIDENTIAL FUNDING COR MRFC 2000 TBC3 A1       | CUSIP: 585525EN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      50181 | PA      | $49217.00      | 0.00%             | 2030-12-15      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 764229 FN 01/34 FIXED 6.5                    | CUSIP: 31404CA67<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2450 | PA      | $2543.39       | 0.00%             | 2034-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5711 G2 01/49 FIXED 4.5                 | CUSIP: 36179UKY7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2478202 | PA      | $2457569.80    | 0.21%             | 2049-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AA2546 FN 03/39 FIXED 5.5                    | CUSIP: 31416KZL5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9872 | PA      | $10240.14      | 0.00%             | 2039-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782754 GN 09/39 FIXED 6                      | CUSIP: 36241LBX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2125 | PA      | $2244.84       | 0.00%             | 2039-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04604 FG 12/34 FIXED 5.5            | CUSIP: 3128M6NV6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6196 | PA      | $6379.39       | 0.00%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VENDEE MORTGAGE TRUST 1998-3                                      | VENDEE MORTGAGE TRUST VENDE 1998 3 E                   | CUSIP: 911760LY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      55559 | PA      | $55895.46      | 0.00%             | 2029-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q00626 FG 05/41 FIXED 5              | CUSIP: 3132GDVT6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5627 | PA      | $5772.22       | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LOAN 2006-OA11                            | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 OA11 A4      | CUSIP: 02147DAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1916653 | PA      | $1826871.58    | 0.15%             | 2046-09-25      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| FREMONT HOME LOAN TRUST 2006-B                                    | FREMONT HOME LOAN TRUST FHLT 2006 B 2A4                | CUSIP: 35729QAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5714676 | PA      | $1775625.93    | 0.15%             | 2036-08-25      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A60094 FG 05/37 FIXED 5.5            | CUSIP: 3128KQC79<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5002 | PA      | $5200.38       | 0.00%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 699092 GN 09/38 FIXED 6                      | CUSIP: 36296RUR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6114 | PA      | $6322.40       | 0.00%             | 2038-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 930770 FN 03/29 FIXED 4.5                    | CUSIP: 31412PCF6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5764 | PA      | $5788.04       | 0.00%             | 2029-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HARBORVIEW MORTGAGE LOAN TR 2007-1                                | HARBORVIEW MORTGAGE LOAN TRUST HVMLT 2007 1 2A1A       | CUSIP: 41164MAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     170731 | PA      | $160391.15     | 0.01%             | 2037-03-19      | Floating      | 4.11%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 745257 FN 01/36 FIXED VAR                    | CUSIP: 31403C5S6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2606 | PA      | $2757.22       | 0.00%             | 2036-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AE7016 GN 06/43 FIXED 3.5                    | CUSIP: 36181AYM8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     214433 | PA      | $200234.32     | 0.02%             | 2043-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BI8200 G2 09/48 FIXED 4.5                 | CUSIP: 3617HJDD7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     174714 | PA      | $170570.14     | 0.01%             | 2048-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 252180 FN 10/28 FIXED 6.5                    | CUSIP: 31371HCR7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        427 | PA      | $445.95        | 0.00%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL SB8379 FR 04/40 FIXED 5.5            | CUSIP: 3132D6JY7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     931862 | PA      | $956067.90     | 0.08%             | 2040-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 937666 FN 06/37 FIXED 6                      | CUSIP: 31412XFF6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4099 | PA      | $4325.08       | 0.00%             | 2037-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ASSET-BACKED CERTI 2003-SD2                           | COUNTRYWIDE ASSET BACKED CERTI CWL 2003 SD2 A1 144A    | CUSIP: 126671ZD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     654079 | PA      | $674240.99     | 0.06%             | 2032-09-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 770708 GN 06/41 FIXED 5                      | CUSIP: 36176NAH4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1128 | PA      | $1154.01       | 0.00%             | 2041-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE-ACES 2001-M2                                           | FANNIEMAE ACES FNA 2001 M2 Z2                          | CUSIP: 313920HM5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      36778 | PA      | $36633.22      | 0.00%             | 2031-06-25      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2004-29                                    | COUNTRYWIDE HOME LOANS CWHL 2004 29 1A1                | CUSIP: 12669GHY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      25177 | PA      | $24530.63      | 0.00%             | 2035-02-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256639 FN 02/27 FIXED 5                      | CUSIP: 31371NBG9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1621 | PA      | $1621.65       | 0.00%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL SD8329 FR 06/53 FIXED 5              | CUSIP: 3132DWHE6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16722 | PA      | $16747.32      | 0.00%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 828580 FN 07/35 FIXED 6                      | CUSIP: 31407EQ97<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2660 | PA      | $2799.56       | 0.00%             | 2035-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080259 G2 02/29 FLOATING VAR              | CUSIP: 36225CJD9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1211 | PA      | $1217.87       | 0.00%             | 2029-02-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2005-AR15                                       | WAMU MORTGAGE PASS THROUGH CER WAMU 2005 AR15 A1A1     | CUSIP: 92922F5T1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     325448 | PA      | $308240.91     | 0.03%             | 2045-11-25      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 922439 FN 01/37 FIXED 6                      | CUSIP: 31412DZC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12597 | PA      | $13252.43      | 0.00%             | 2037-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AU5019 FN 10/43 FIXED 4                      | CUSIP: 3138X4SH4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      34772 | PA      | $33922.03      | 0.00%             | 2043-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008967 G2 09/26 FLOATING VAR              | CUSIP: 36202K6C4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         94 | PA      | $94.16         | 0.00%             | 2026-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 795410 FN 09/34 FIXED 6.5                    | CUSIP: 31405PVB3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10392 | PA      | $10902.76      | 0.00%             | 2034-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 710859 GN 09/39 FIXED 5                      | CUSIP: 36297FWU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      30052 | PA      | $30931.51      | 0.00%             | 2039-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BB8329 G2 08/47 FIXED 3.5                 | CUSIP: 3617B0HE8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     593846 | PA      | $548198.59     | 0.05%             | 2047-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FA1073 FN 11/39 FIXED VAR                    | CUSIP: 3140W1FP3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     917545 | PA      | $941367.87     | 0.08%             | 2039-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04399 FG 07/38 FIXED 5.5            | CUSIP: 3128M6GG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8492 | PA      | $8870.86       | 0.00%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA3288 FN 12/32 FIXED 2                      | CUSIP: 31418CUN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     248968 | PA      | $234239.75     | 0.02%             | 2032-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323835 FN 05/29 FIXED VAR                    | CUSIP: 31374TV48<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        139 | PA      | $144.49        | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 6 SINGLE FAMILY MORTGAGE                | CUSIP: 01F060626<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  109800000 | PA      | $112687496.24  | 9.49%             | 2056-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 675059 GN 01/38 FIXED 5.5                    | CUSIP: 36295M5U9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20364 | PA      | $21218.38      | 0.00%             | 2038-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BC9901 G2 11/47 FIXED 3.5                 | CUSIP: 3617BEAA3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     532979 | PA      | $492023.55     | 0.04%             | 2047-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA2835 FN 12/38 FIXED 4.5                    | CUSIP: 3140QAEH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     695212 | PA      | $705754.01     | 0.06%             | 2038-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323591 FN 03/29 FIXED VAR                    | CUSIP: 31374TNG0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        536 | PA      | $555.97        | 0.00%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002591 G2 05/28 FIXED 7                   | CUSIP: 36202C2Y8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        545 | PA      | $560.09        | 0.00%             | 2028-05-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 773846 FN 04/34 FIXED 5.5                    | CUSIP: 31404NWF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2080 | PA      | $2109.92       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AI3937 FN 09/41 FIXED 4                      | CUSIP: 3138AHLT1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     211149 | PA      | $206435.63     | 0.02%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA9306 FN 02/51 FIXED 3                      | CUSIP: 3140QHKU8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   11025838 | PA      | $9780894.67    | 0.82%             | 2051-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 783231 FN 09/34 FIXED 6                      | CUSIP: 31405AEC3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7984 | PA      | $8348.85       | 0.00%             | 2034-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 2 JUMBOS                             | CUSIP: 21H020618<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   99165000 | PA      | $82151610.01   | 6.92%             | 2055-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2021-LTV6                                | JP MORGAN MORTGAGE TRUST JPMMT 2021 INV6 A2 144A       | CUSIP: 46654FAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5077084 | PA      | $4461937.58    | 0.38%             | 2052-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 303744 FN 02/31 FLOATING VAR                 | CUSIP: 31373ULZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9634 | PA      | $9619.55       | 0.00%             | 2031-02-01      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 893898 FN 10/36 FIXED 6                      | CUSIP: 31410QDB4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3447 | PA      | $3636.89       | 0.00%             | 2036-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL MSC MTGE P/T 2002-AR1                           | WASHINGTON MUTUAL MSC MORTGAGE WAMMS 2002 AR1 1A1      | CUSIP: 939335N68<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       4767 | PA      | $4786.45       | 0.00%             | 2030-11-25      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 737442 GN 09/40 FIXED 4                      | CUSIP: 3620ARHT1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      37287 | PA      | $35953.65      | 0.00%             | 2040-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01938 FG 09/35 FIXED 5.5            | CUSIP: 3128LXEK2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25172 | PA      | $26360.84      | 0.00%             | 2035-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AI0141 FN 04/41 FIXED 4                      | CUSIP: 3138ADEP6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     693449 | PA      | $679828.99     | 0.06%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BJ4826 FN 02/48 FIXED 3.5                    | CUSIP: 3140H6LG2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     749678 | PA      | $701929.90     | 0.06%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080414 G2 06/30 FLOATING VAR              | CUSIP: 36225CN85<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7247 | PA      | $7247.74       | 0.00%             | 2030-06-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 257230 FN 06/38 FIXED 5                      | CUSIP: 31371NVX0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      67800 | PA      | $69757.38      | 0.01%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91251 FG 06/29 FIXED 4.5            | CUSIP: 3128P7L84<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22060 | PA      | $22180.61      | 0.00%             | 2029-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 538722 GN 05/35 FIXED 6.5                    | CUSIP: 36212NPF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2991 | PA      | $3140.71       | 0.00%             | 2035-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AE0271 FN 08/40 FIXED VAR                    | CUSIP: 31419AJR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      95539 | PA      | $98300.69      | 0.01%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 477534 GN 11/28 FIXED 6.5                    | CUSIP: 36209PPT8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        228 | PA      | $236.06        | 0.00%             | 2028-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 674740 FN 01/33 FIXED 6                      | CUSIP: 31391RS52<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      56186 | PA      | $57665.61      | 0.00%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 752927 FN 03/34 FIXED 5.5                    | CUSIP: 31403MPL7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1974 | PA      | $2008.15       | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS8787 FN 02/32 FIXED 2                      | CUSIP: 3138WJXR4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13204 | PA      | $12615.70      | 0.00%             | 2032-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 776376 FN 05/34 FIXED 5.5                    | CUSIP: 31404RQ59<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6823 | PA      | $6922.79       | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.23200 04/26/24-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $203158.01     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 479294 GN 04/30 FIXED 8.5                    | CUSIP: 36209RNK5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        337 | PA      | $343.83        | 0.00%             | 2030-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080395 G2 04/30 FLOATING VAR              | CUSIP: 36225CNM4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     205079 | PA      | $205411.06     | 0.02%             | 2030-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CB2301 FN 12/51 FIXED 3                      | CUSIP: 3140QMRX4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3618330 | PA      | $3207557.48    | 0.27%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AO9700 FN 07/42 FIXED 3.5                    | CUSIP: 3138M1X60<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1062 | PA      | $1014.83       | 0.00%             | 2042-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A35745 FG 06/35 FIXED 5.5            | CUSIP: 31297RL21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      42231 | PA      | $42891.44      | 0.00%             | 2035-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91237 FG 02/29 FIXED 5              | CUSIP: 3128P7LS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5591 | PA      | $5637.18       | 0.00%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 1J1219 FH 10/35 FLOATING VAR         | CUSIP: 3128NHK85<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9537 | PA      | $9796.11       | 0.00%             | 2035-10-01      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080070 G2 05/27 FLOATING VAR              | CUSIP: 36225CCG9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        200 | PA      | $200.16        | 0.00%             | 2027-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 711479 GN 12/39 FIXED 5                      | CUSIP: 36297GM49<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     108943 | PA      | $113741.69     | 0.01%             | 2039-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A75437 FG 03/38 FIXED 5.5            | CUSIP: 3128L9BE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3387 | PA      | $3508.58       | 0.00%             | 2038-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 485398 GN 04/31 FIXED 7.5                    | CUSIP: 36209YGF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        172 | PA      | $175.68        | 0.00%             | 2031-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A95755 FG 12/40 FIXED 5              | CUSIP: 312944MC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1171 | PA      | $1198.99       | 0.00%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G30607 FG 09/32 FIXED 3.5            | CUSIP: 3128CUU87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     859202 | PA      | $847373.73     | 0.07%             | 2032-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 781962 FN 06/34 FIXED 5.5                    | CUSIP: 31404XWX8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17743 | PA      | $18002.63      | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ADJUSTABLE RATE MORTAGE TRUST 2005-5                              | ADJUSTABLE RATE MORTGAGE TRUST ARMT 2005 5 2A1         | CUSIP: 007036LJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     117031 | PA      | $102106.46     | 0.01%             | 2035-09-25      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008830 G2 03/26 FLOATING VAR              | CUSIP: 36202KY33<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        573 | PA      | $572.14        | 0.00%             | 2026-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 785186 FN 06/34 FIXED 5.5                    | CUSIP: 31405CJ75<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9459 | PA      | $9595.94       | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 808413 FN 01/35 FIXED 5.5                    | CUSIP: 31406FDS7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8593 | PA      | $8880.89       | 0.00%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008949 G2 08/26 FLOATING VAR              | CUSIP: 36202K5J0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1336 | PA      | $1339.39       | 0.00%             | 2026-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AI6880 GN 01/45 FIXED 3                      | CUSIP: 36198TUD2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     131646 | PA      | $119073.85     | 0.01%             | 2045-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CREDIT BASED ASSET SRVC & SEC 2007-CB1                            | CREDIT BASED ASSET SERVICING A CBASS 2007 CB1 AF1A     | CUSIP: 1248MGAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     238972 | PA      | $70640.26      | 0.01%             | 2037-01-25      | Floating      | 3.99%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 555732 GN 03/32 FIXED 6.5                    | CUSIP: 36213JLM5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        366 | PA      | $378.55        | 0.00%             | 2032-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MTGE TRUST 2005-A7                                      | JP MORGAN MORTGAGE TRUST JPMMT 2005 A7 2A3             | CUSIP: 466247WQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     444617 | PA      | $419837.06     | 0.04%             | 2035-10-25      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM3229 FN 02/47 FIXED VAR                    | CUSIP: 3140X6ST9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5582766 | PA      | $5326611.49    | 0.45%             | 2047-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01931 FG 10/35 FIXED 5.5            | CUSIP: 3128LXEC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6059 | PA      | $6344.89       | 0.00%             | 2035-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 6 SINGLE FAMILY MORTGAGE                | CUSIP: 01F060634<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   99000000 | PA      | $101611214.10  | 8.56%             | 2055-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AV1374 FN 11/43 FIXED 4                      | CUSIP: 3138XCQ47<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     185649 | PA      | $180521.33     | 0.02%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03073 FG 07/37 FIXED 5.5            | CUSIP: 3128M4XA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7898 | PA      | $8271.94       | 0.00%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 970643 FN 10/38 FIXED 6.5                    | CUSIP: 31414MZG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        313 | PA      | $332.23        | 0.00%             | 2038-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 934787 FN 02/39 FIXED 6                      | CUSIP: 31412T6Y4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15597 | PA      | $16214.62      | 0.00%             | 2039-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 693511 GN 07/38 FIXED 6.5                    | CUSIP: 36296KN40<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12025 | PA      | $12604.75      | 0.00%             | 2038-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS9746 FN 10/28 FIXED 5.61                   | CUSIP: 3140LLZL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     392000 | PA      | $396471.38     | 0.03%             | 2028-10-01      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91249 FG 05/29 FIXED 4.5            | CUSIP: 3128P7L68<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     407084 | PA      | $409207.78     | 0.03%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ASSET-BACKED CERT 2007-6                              | COUNTRYWIDE ASSET BACKED CERTI CWL 2007 6 1A           | CUSIP: 12669LAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     344970 | PA      | $323463.55     | 0.03%             | 2037-09-25      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BC0600 G2 08/47 FIXED 3.5                 | CUSIP: 3617B3UZ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     492200 | PA      | $454386.19     | 0.04%             | 2047-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 797544 FN 04/35 FIXED 6                      | CUSIP: 31405SBM5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1236 | PA      | $1269.25       | 0.00%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 940380 FN 07/37 FIXED 6                      | CUSIP: 31413BFV8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     394691 | PA      | $416438.66     | 0.04%             | 2037-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MORTGAGE LOAN TRUST 2024-INV2                           | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2024 INV2 A3B 144A | CUSIP: 17331WBB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1427919 | PA      | $1461621.63    | 0.12%             | 2054-06-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/4.14500 10/10/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $415808.38     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 990924 FN 09/38 FIXED 5.5                    | CUSIP: 31415VYV1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     119394 | PA      | $123669.31     | 0.01%             | 2038-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 771910 FN 04/34 FIXED 5.5                    | CUSIP: 31404LR77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4236 | PA      | $4296.43       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A76483 FG 04/38 FIXED 5.5            | CUSIP: 3128LAFY1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7482 | PA      | $7811.96       | 0.00%             | 2038-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 509132 GN 05/30 FIXED 8.5                    | CUSIP: 36211CSV5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4983 | PA      | $5037.30       | 0.00%             | 2030-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 917880 FN 05/37 FIXED 6                      | CUSIP: 31411XXH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10707 | PA      | $11366.06      | 0.00%             | 2037-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 410987 GN 02/39 FIXED 5.5                    | CUSIP: 36206GRG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5138 | PA      | $5335.16       | 0.00%             | 2039-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 953930 FN 12/37 FIXED 6.5                    | CUSIP: 31413SHF4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        271 | PA      | $284.97        | 0.00%             | 2037-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 081401 G2 07/35 FLOATING VAR              | CUSIP: 36225DRX4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     131018 | PA      | $133562.29     | 0.01%             | 2035-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 641967 GN 04/36 FIXED 5.5                    | CUSIP: 36291YFG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1875 | PA      | $1937.04       | 0.00%             | 2036-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 844719 FN 12/35 FIXED 6                      | CUSIP: 31407YPC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2708 | PA      | $2842.22       | 0.00%             | 2035-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 889072 FN 12/37 FIXED VAR                    | CUSIP: 31410GW90<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6203 | PA      | $6601.91       | 0.00%             | 2037-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 3596                                                  | FREDDIE MAC FHR 3596 FC                                | CUSIP: 31398KUV0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     169078 | PA      | $169047.24     | 0.01%             | 2035-08-15      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 716305 GN 06/39 FIXED 5                      | CUSIP: 3620A1YA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3081 | PA      | $3145.36       | 0.00%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775012 FN 04/34 FIXED 5.5                    | CUSIP: 31404QAM1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15618 | PA      | $15845.77      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BF0167 FN 02/57 FIXED 3                      | CUSIP: 3140FXFH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3860398 | PA      | $3393155.91    | 0.29%             | 2057-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BG5667 G2 06/48 FIXED 4                   | CUSIP: 3617GQJL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     415552 | PA      | $405813.19     | 0.03%             | 2048-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A93293 FG 08/40 FIXED 5.5            | CUSIP: 312941US4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20409 | PA      | $21143.33      | 0.00%             | 2040-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BG9709 GN 07/48 FIXED 4                      | CUSIP: 3617GUYE8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     106985 | PA      | $104791.39     | 0.01%             | 2048-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL D97473 FG 12/27 FIXED 6              | CUSIP: 3128E4JS2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1264 | PA      | $1298.34       | 0.00%             | 2027-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEWARK BSL CLO 2 LTD 2017 1A                                      | NEWARK BSL CLO 2 LTD. NBCLO 2017 1A A1R 144A           | CUSIP: 65023PAN0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1255792 | PA      | $1256386.99    | 0.11%             | 2030-07-25      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 933505 FN 02/38 FIXED 6                      | CUSIP: 31412SR23<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      49269 | PA      | $51157.64      | 0.00%             | 2038-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01841 FG 06/35 FIXED 5.5            | CUSIP: 3128LXBJ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12008 | PA      | $12368.67      | 0.00%             | 2035-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 626921 GN 03/45 FIXED 3                      | CUSIP: 36291FPE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     323150 | PA      | $292340.59     | 0.02%             | 2045-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 786521 FN 06/34 FIXED 5                      | CUSIP: 31405DYS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      52295 | PA      | $52217.40      | 0.00%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080181 G2 03/28 FLOATING VAR              | CUSIP: 36225CFX9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        470 | PA      | $472.00        | 0.00%             | 2028-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AD5638 GN 05/43 FIXED 4                      | CUSIP: 36180HHP6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20039 | PA      | $19278.59      | 0.00%             | 2043-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 486844 GN 01/29 FIXED 6.5                    | CUSIP: 36210AZH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        978 | PA      | $989.83        | 0.00%             | 2029-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 544781 FN 02/30 FLOATING VAR                 | CUSIP: 31385HFW7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11220 | PA      | $11207.55      | 0.00%             | 2030-02-01      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 724065 GN 07/39 FIXED 6.5                    | CUSIP: 3620AAMN5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      95194 | PA      | $99791.93      | 0.01%             | 2039-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL AGRICULTURE MTG CORP HM-1021                              | FEDERAL AGRICULTURAL MORTGAGE AMBS HM 1021 1           | CUSIP: 31316XAW1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      20678 | PA      | $20926.88      | 0.00%             | 2030-04-25      | Fixed         | 8.85%                 | No            |                  3 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A40032 FG 09/35 FIXED 5              | CUSIP: 3128K0A94<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1381 | PA      | $1380.44       | 0.00%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CB0198 FN 04/51 FIXED 3                      | CUSIP: 3140QKGG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3002343 | PA      | $2659325.38    | 0.22%             | 2051-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 848408 FN 12/35 FIXED 6                      | CUSIP: 31408DR55<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2467 | PA      | $2602.71       | 0.00%             | 2035-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL N31300 FG 07/36 FIXED 4.5            | CUSIP: 31281BNR7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4483 | PA      | $4507.29       | 0.00%             | 2036-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256653 FN 03/27 FIXED 6.5                    | CUSIP: 31371NBW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        800 | PA      | $829.68        | 0.00%             | 2027-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 689635 FN 02/33 FIXED 6                      | CUSIP: 31400KEG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        193 | PA      | $198.37        | 0.00%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080167 G2 02/28 FLOATING VAR              | CUSIP: 36225CFH4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        493 | PA      | $493.74        | 0.00%             | 2028-02-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA2903 FN 02/32 FIXED 3                      | CUSIP: 31418CGM0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     153085 | PA      | $149876.49     | 0.01%             | 2032-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 566499 GN 10/33 FIXED 5                      | CUSIP: 36213WKL9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1954 | PA      | $1964.29       | 0.00%             | 2033-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BN4325 FN 01/49 FIXED 4.5                    | CUSIP: 3140JLYX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     610715 | PA      | $606779.32     | 0.05%             | 2049-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 3 SINGLE FAMILY MORTGAGE                | CUSIP: 01F030629<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  318405000 | PA      | $281452609.61  | 23.71%            | 2056-02-12      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03111 FG 05/37 FIXED 5.5            | CUSIP: 3128M4YG2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3689 | PA      | $3863.58       | 0.00%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AX8344 G2 04/47 FIXED 3.5                 | CUSIP: 36196LHV6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     268775 | PA      | $248220.00     | 0.02%             | 2047-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4544                                           | FREDDIE MAC FHR 4544 IP                                | CUSIP: 3137BMQG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2913079 | PA      | $505170.46     | 0.04%             | 2046-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4825                                           | FREDDIE MAC FHR 4825 NI                                | CUSIP: 3137FH6Z1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     828053 | PA      | $135261.20     | 0.01%             | 2048-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AI9545 FN 10/31 FIXED 4                      | CUSIP: 3138APTB4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22807 | PA      | $22739.14      | 0.00%             | 2031-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BD9966 G2 11/47 FIXED 3.5                 | CUSIP: 3617BSCB8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     397870 | PA      | $367294.24     | 0.03%             | 2047-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 545944 FN 10/32 FIXED VAR                    | CUSIP: 31385JP51<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        353 | PA      | $365.14        | 0.00%             | 2032-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC STRUCTURED PASS THRU SEC T-35                               | FHLMC STRUCTURED PASS THROUGH FSPC T 35 A              | CUSIP: 313398VT3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17074 | PA      | $17060.56      | 0.00%             | 2031-09-25      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2004-25                                    | COUNTRYWIDE HOME LOANS CWHL 2004 25 1A1                | CUSIP: 12669GJY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200475 | PA      | $191700.44     | 0.02%             | 2035-02-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782716 GN 07/39 FIXED 5                      | CUSIP: 36241LAR7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      81804 | PA      | $82907.83      | 0.01%             | 2039-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 448355 GN 04/31 FIXED 7.5                    | CUSIP: 36208EBY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        761 | PA      | $775.35        | 0.00%             | 2031-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2000-36                                                | FANNIE MAE FNR 2000 36 F                               | CUSIP: 31358SVL2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11608 | PA      | $11607.68      | 0.00%             | 2030-06-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| ACE SECURITIES CORP 2004-RM1                                      | ACE SECURITIES CORP. ACE 2004 RM1 M1                   | CUSIP: 004421FS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      57528 | PA      | $57067.28      | 0.00%             | 2034-07-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 831936 FN 11/36 FIXED 6                      | CUSIP: 31407JHM7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10024 | PA      | $10409.20      | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 677567 GN 11/37 FIXED 6                      | CUSIP: 36295QW48<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        153 | PA      | $158.78        | 0.00%             | 2037-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01515 FG 02/33 FIXED 5              | CUSIP: 31283HVG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        230 | PA      | $234.20        | 0.00%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03832 FG 01/38 FIXED 5.5            | CUSIP: 3128M5SV3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     641421 | PA      | $669611.23     | 0.06%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QG5085 FR 06/53 FIXED 5              | CUSIP: 3133C5UJ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      94221 | PA      | $95580.73      | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A79792 FG 07/38 FIXED 5              | CUSIP: 3128LD2Z6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      41858 | PA      | $41881.51      | 0.00%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AC2375 FN 10/38 FIXED 6.5                    | CUSIP: 31417LT96<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      44022 | PA      | $46347.20      | 0.00%             | 2038-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 900134 FN 09/36 FIXED 6                      | CUSIP: 31410XBB1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18204 | PA      | $18918.34      | 0.00%             | 2036-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A43850 FG 03/36 FIXED 5              | CUSIP: 3128K4H32<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10088 | PA      | $10391.26      | 0.00%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ASSET BACKED SEC HOME EQTY LN 2007-HE2                            | ASSET BACKED SECURITIES CORP H ABSHE 2007 HE2 A2       | CUSIP: 04544TAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        806 | PA      | $583.83        | 0.00%             | 2037-05-25      | Floating      | 3.93%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL SD0935 FR 04/52 FIXED 3              | CUSIP: 3132DNBC6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3261528 | PA      | $2893846.19    | 0.24%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MELLON RESIDENTIAL FUNDING CO 2001-TBC1                           | MELLON RESIDENTIAL FUNDING COR MRFC 2001 TBC1 A1       | CUSIP: 585525FC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      41441 | PA      | $40343.02      | 0.00%             | 2031-11-15      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QG5089 FR 06/53 FIXED 5              | CUSIP: 3133C5UN9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     180108 | PA      | $182310.12     | 0.02%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/4.01200 11/08/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $950558.79     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL6768 FN 05/41 FIXED VAR                    | CUSIP: 3138EPQW7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     299139 | PA      | $315625.31     | 0.03%             | 2041-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 495508 FN 04/29 FIXED 6.5                    | CUSIP: 31382XNZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        117 | PA      | $121.67        | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 224713 FN 02/31 FLOATING VAR                 | CUSIP: 31369YSA4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7627 | PA      | $7691.08       | 0.00%             | 2031-02-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04531 FG 01/38 FIXED 5.5            | CUSIP: 3128M6LL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11782 | PA      | $12298.63      | 0.00%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2020-H15                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2020 H15 FD         | CUSIP: 38380QHX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    7595762 | PA      | $7694055.47    | 0.65%             | 2070-08-20      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST 2022-HP1                      | GS MORTGAGE BACKED SECURITIES GSMBS 2022 HP1 A2 144A   | CUSIP: 36265LAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   13886676 | PA      | $12177807.70   | 1.03%             | 2052-09-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 796242 FN 11/34 FIXED 6.5                    | CUSIP: 31405QS74<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16199 | PA      | $16813.47      | 0.00%             | 2034-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2005-AR2                                        | WAMU MORTGAGE PASS THROUGH CER WAMU 2005 AR2 2A21      | CUSIP: 92922FD47<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     176832 | PA      | $177598.91     | 0.01%             | 2045-01-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA MTG SEC 2002-E                                    | BANC OF AMERICA MORTGAGE SECUR BOAMS 2002 E A1         | CUSIP: 06050HJH2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      15635 | PA      | $15802.95      | 0.00%             | 2031-06-20      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| ONSLOW BAY MORTGAGE LOAN TRUST 2022-INV2                          | ONSLOW BAY FINANCIAL LLC OBX 2022 INV2 A1 144A         | CUSIP: 67114WAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2435650 | PA      | $2131546.44    | 0.18%             | 2052-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080802 G2 01/34 FLOATING VAR              | CUSIP: 36225C3L8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     812168 | PA      | $836047.87     | 0.07%             | 2034-01-20      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 751297 FN 03/34 FIXED 5.5                    | CUSIP: 31403KUW1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5638 | PA      | $5717.99       | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 888882 FN 08/37 FIXED VAR                    | CUSIP: 31410GRB1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3529 | PA      | $3755.98       | 0.00%             | 2037-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS9178 FN 10/28 FIXED 5.73                   | CUSIP: 3140LLFU0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1122000 | PA      | $1173189.78    | 0.10%             | 2028-10-01      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AH1338 FN 12/40 FIXED 4                      | CUSIP: 3138A2PY9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      81541 | PA      | $79808.75      | 0.01%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03591 FG 11/37 FIXED 5.5            | CUSIP: 3128M5KC3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3749 | PA      | $3923.77       | 0.00%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC-2206                                                  | FREDDIE MAC FHR 2206 Z                                 | CUSIP: 3133TN4S0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11097 | PA      | $11578.42      | 0.00%             | 2030-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03432 FG 11/37 FIXED 5.5            | CUSIP: 3128M5ED8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      78802 | PA      | $82529.00      | 0.01%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM6158 FN 12/48 FLOATING VAR                 | CUSIP: 3140JAZY7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     581024 | PA      | $605899.86     | 0.05%             | 2048-12-01      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 658394 FN 06/33 FIXED 6                      | CUSIP: 31390WNK4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        114 | PA      | $117.23        | 0.00%             | 2033-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RESIDENTIAL ACCREDIT LOANS INC 2005-QA9                           | RESIDENTIAL ACCREDIT LOANS, IN RALI 2005 QA9 NB21      | CUSIP: 761118FJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     420851 | PA      | $144924.91     | 0.01%             | 2035-08-25      | Floating      | 4.10%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RR0033 FR 10/40 FIXED 5.5            | CUSIP: 3142JCBB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     953614 | PA      | $978205.95     | 0.08%             | 2040-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06353 FG 12/39 FIXED 5.5            | CUSIP: 3128M8MA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13979 | PA      | $14597.25      | 0.00%             | 2039-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 745281 FN 01/36 FIXED VAR                    | CUSIP: 31403C6S5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4511 | PA      | $4769.63       | 0.00%             | 2036-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| THORNBURG MORTGAGE SECURITIES TR 2003-3                           | THORNBURG MORTGAGE SECURITIES TMST 2003 3 A4           | CUSIP: 885220DR1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      59953 | PA      | $58394.13      | 0.00%             | 2043-06-25      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LOAN TR 2006-OA3                          | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 OA3 1A1      | CUSIP: 12668BB44<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      24226 | PA      | $21251.75      | 0.00%             | 2036-05-25      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AR2152 FN 02/43 FIXED 4                      | CUSIP: 3138NYMA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      55212 | PA      | $54607.98      | 0.00%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2005-3                                     | COUNTRYWIDE HOME LOANS CWHL 2005 3 2A1                 | CUSIP: 12669GTV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       2208 | PA      | $2166.01       | 0.00%             | 2035-04-25      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A56911 FG 02/37 FIXED 5.5            | CUSIP: 3128KKVC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12791 | PA      | $13355.75      | 0.00%             | 2037-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 922005 FN 12/36 FIXED 6                      | CUSIP: 31412DKS6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     123745 | PA      | $129616.41     | 0.01%             | 2036-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ADJUST RT MTGE TR 2000-                              | BEAR STEARNS ADJUSTABLE RATE M BSARM 2000 2 A1         | CUSIP: 07384MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        572 | PA      | $569.34        | 0.00%             | 2030-11-25      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A64516 FG 08/37 FIXED 6.5            | CUSIP: 3128KVAR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7643 | PA      | $8125.49       | 0.00%             | 2037-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2014-43                                         | FANNIE MAE FNR 2014 43 BS                              | CUSIP: 3136AKKU6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     407841 | PA      | $26151.38      | 0.00%             | 2044-07-25      | Floating      | 1.68%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AA0577 GN 06/42 FIXED 3.5                    | CUSIP: 36177WUA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      93634 | PA      | $87783.16      | 0.01%             | 2042-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AU4779 FN 09/43 FIXED 4.5                    | CUSIP: 3138X4JZ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      50002 | PA      | $50184.85      | 0.00%             | 2043-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 725162 FN 02/34 FIXED VAR                    | CUSIP: 31402CTT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1348 | PA      | $1407.45       | 0.00%             | 2034-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 005303 G2 02/42 FIXED 4                   | CUSIP: 36202F3L8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8241 | PA      | $7840.39       | 0.00%             | 2042-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 655251 GN 10/36 FIXED 6.5                    | CUSIP: 36294N5L8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1964 | PA      | $2096.06       | 0.00%             | 2036-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2017-57                  | GOVERNMENT NATIONAL MORTGAGE A GNR 2017 57 WI          | CUSIP: 38380B7Q2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     310525 | PA      | $15297.43      | 0.00%             | 2045-12-20      | Floating      | 0.83%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A74678 FG 03/38 FIXED 5.5            | CUSIP: 3128L8FT7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10563 | PA      | $10838.17      | 0.00%             | 2038-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5128 G2 04/48 FIXED 4.5                 | CUSIP: 36179TVV4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      48194 | PA      | $47323.13      | 0.00%             | 2048-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783007 GN 06/40 FIXED 4.5                    | CUSIP: 36241LKU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1016437 | PA      | $1006593.11    | 0.08%             | 2040-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 769017 FN 12/31 FIXED 6                      | CUSIP: 31404HK65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1905 | PA      | $1955.30       | 0.00%             | 2031-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2016-160                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2016 160 IE         | CUSIP: 38380B5Q4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     130730 | PA      | $7703.50       | 0.00%             | 2046-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS6513 FN 01/36 FIXED 4                      | CUSIP: 3138WGGX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     565843 | PA      | $556506.01     | 0.05%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256789 FN 06/27 FIXED 6.5                    | CUSIP: 31371NF67<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3995 | PA      | $4145.35       | 0.00%             | 2027-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A46669 FG 08/35 FIXED 4.5            | CUSIP: 3128K7MS4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1362 | PA      | $1375.77       | 0.00%             | 2035-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/4.13500 10/10/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $984281.33     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04332 FG 03/38 FIXED 5              | CUSIP: 3128M6ED6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      50228 | PA      | $51737.57      | 0.00%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 651553 FN 07/32 FLOATING VAR                 | CUSIP: 31390NZS4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10205 | PA      | $10434.36      | 0.00%             | 2032-07-01      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 810769 FN 01/35 FIXED 6                      | CUSIP: 31406HW60<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10824 | PA      | $11265.01      | 0.00%             | 2035-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2012-77                                         | FANNIE MAE FNR 2012 77 IO                              | CUSIP: 3136A6H98<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     292533 | PA      | $14662.03      | 0.00%             | 2052-07-25      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04614 FG 02/34 FIXED 6              | CUSIP: 3128M6N79<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15641 | PA      | $16248.51      | 0.00%             | 2034-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 621097 GN 03/37 FIXED 6                      | CUSIP: 36290X7J3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5554 | PA      | $5866.97       | 0.00%             | 2037-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 784208 GN 07/46 FIXED 4                      | CUSIP: 3622A2U91<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3670929 | PA      | $3530870.56    | 0.30%             | 2046-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080185 G2 04/28 FLOATING VAR              | CUSIP: 36225CF35<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1832 | PA      | $1833.88       | 0.00%             | 2028-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| CHEVY CHASE MORTGAGE FUND CORP 2005-2A                            | CHEVY CHASE MORTGAGE FUNDING C CCMFC 2005 2A A1 144A   | CUSIP: 16678RDK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      40693 | PA      | $39514.78      | 0.00%             | 2036-05-25      | Floating      | 4.03%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783638 GN 07/41 FIXED 5.5                    | CUSIP: 3622A2BF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10024 | PA      | $10409.10      | 0.00%             | 2041-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRIPS 303                                            | FREDDIEMAC STRIP FHS 303 C19                           | CUSIP: 31325UEH5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2562926 | PA      | $414611.31     | 0.03%             | 2043-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002632 G2 08/28 FIXED 7.5                 | CUSIP: 36202C4R1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        306 | PA      | $311.36        | 0.00%             | 2028-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 771677 FN 03/34 FIXED 6.5                    | CUSIP: 31404LJW1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        407 | PA      | $428.85        | 0.00%             | 2034-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 764548 FN 03/34 FIXED 5.5                    | CUSIP: 31404CL57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3106 | PA      | $3199.82       | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735643 FN 08/42 FLOATING VAR                 | CUSIP: 31402RHU6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     102617 | PA      | $103221.51     | 0.01%             | 2042-08-01      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 865591 FH 03/29 FLOATING VAR         | CUSIP: 31348UF87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        654 | PA      | $649.35        | 0.00%             | 2029-03-01      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 779479 FN 06/34 FIXED 5.5                    | CUSIP: 31404U6Q8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13696 | PA      | $13896.13      | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A75525 FG 04/38 FIXED 5              | CUSIP: 3128L9D67<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        623 | PA      | $641.43        | 0.00%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080076 G2 05/27 FLOATING VAR              | CUSIP: 36225CCN4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1009 | PA      | $1011.18       | 0.00%             | 2027-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q01446 FG 06/41 FIXED 5              | CUSIP: 3132GETB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10579 | PA      | $10873.15      | 0.00%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03156 FG 08/37 FIXED 5.5            | CUSIP: 3128M4ZV8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2736 | PA      | $2865.43       | 0.00%             | 2037-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMORTIZING RESIDENTIAL COLLAT 2001-BC6                            | AMORTIZING RESIDENTIAL COLLATE ARC 2001 BC6 A          | CUSIP: 86358RMY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      45771 | PA      | $45587.00      | 0.00%             | 2031-10-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 676015 GN 08/38 FIXED 6.5                    | CUSIP: 36295PAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2185 | PA      | $2298.84       | 0.00%             | 2038-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRIPS 322                                            | FREDDIEMAC STRIP FHS 322 V1                            | CUSIP: 3132HTY67<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1073002 | PA      | $987824.49     | 0.08%             | 2043-12-15      | Floating      | 2.88%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 904015 FN 01/37 FIXED 6                      | CUSIP: 31411CK42<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5085 | PA      | $5304.81       | 0.00%             | 2037-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MTGE LOAN TR 2005-AR2                                | INDYMAC INDX MORTGAGE LOAN TRU INDX 2005 AR2 2A1A      | CUSIP: 45660LCL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      51975 | PA      | $49096.59      | 0.00%             | 2035-02-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256023 FN 12/35 FIXED 6                      | CUSIP: 31371MLC9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     100655 | PA      | $106506.19     | 0.01%             | 2035-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04144 FG 03/38 FIXED 5.5            | CUSIP: 3128M55D8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      43097 | PA      | $45017.55      | 0.00%             | 2038-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782962 GN 05/40 FIXED 5                      | CUSIP: 36241LJF4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      89158 | PA      | $91688.52      | 0.01%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 725943 FN 10/34 FIXED VAR                    | CUSIP: 31402DP46<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4035 | PA      | $4142.81       | 0.00%             | 2034-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A23085 FG 06/34 FIXED 5              | CUSIP: 31297ANA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11053 | PA      | $11193.14      | 0.00%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH ALTERNATIVE NT 2007-A2                              | MERRILL LYNCH ALTERNATIVE NOTE MANA 2007 A2 A3C        | CUSIP: 59024FAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     830785 | PA      | $194342.47     | 0.02%             | 2037-03-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 719922 GN 10/39 FIXED 5.5                    | CUSIP: 3620A5YT0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      75807 | PA      | $78421.17      | 0.01%             | 2039-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2001-35                                                | FANNIE MAE FNR 2001 35 ZG                              | CUSIP: 313920SU5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      72766 | PA      | $75684.03      | 0.01%             | 2031-08-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WASHING MUTUAL MTGE P/T 2006-5                                    | WASHINGTON MUTUAL MORTGAGE PAS WMALT 2006 5 3A6        | CUSIP: 93935BAH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2100540 | PA      | $439163.68     | 0.04%             | 2036-07-25      | Variable      | 6.77%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO MTGE BACKED SEC 2004-K                                | WELLS FARGO MORTGAGE BACKED SE WFMBS 2004 K 2A3        | CUSIP: 94981VAH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       4502 | PA      | $4595.93       | 0.00%             | 2034-07-25      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5138 G2 04/48 FIXED 4.5                 | CUSIP: 36179TV77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     177078 | PA      | $175949.30     | 0.01%             | 2048-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 4.5 JUMBOS                           | CUSIP: 21H042612<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2975000 | PA      | $2898300.78    | 0.24%             | 2056-01-22      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 844000 FN 11/35 FLOATING VAR                 | CUSIP: 31407XUZ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3086 | PA      | $3143.63       | 0.00%             | 2035-11-01      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 922919 FN 02/37 FIXED 6                      | CUSIP: 31412EK88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     109820 | PA      | $112829.84     | 0.01%             | 2037-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A35819 FG 07/35 FIXED 5              | CUSIP: 31297RPC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11741 | PA      | $11787.94      | 0.00%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 733677 GN 05/40 FIXED 5.5                    | CUSIP: 3620AMCN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13009 | PA      | $13463.24      | 0.00%             | 2040-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02419 FG 10/36 FIXED 6.5            | CUSIP: 3128M4AU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5694 | PA      | $5975.27       | 0.00%             | 2036-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QD9605 FR 04/52 FIXED 3              | CUSIP: 3133B7U63<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     230024 | PA      | $205490.69     | 0.02%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004058 G2 12/37 FIXED 5                   | CUSIP: 36202EQK8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11041 | PA      | $11324.82      | 0.00%             | 2037-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SMALL BUSINESS ADMIN PART CERTS 2008-20G                          | SMALL BUSINESS ADMINISTRATION SBAP 2008 20G 1          | CUSIP: 83162CRX3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     155151 | PA      | $156702.90     | 0.01%             | 2028-07-01      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS8509 FN 12/46 FIXED 3                      | CUSIP: 3138WJN38<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4723521 | PA      | $4332765.92    | 0.36%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH MORTGAGE INVESTO-2006-RM4                           | MERRILL LYNCH MORTGAGE INVESTO MLMI 2006 RM4 A2A       | CUSIP: 59023QAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     121143 | PA      | $23794.61      | 0.00%             | 2037-09-25      | Floating      | 4.01%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91232 FG 11/28 FIXED 5              | CUSIP: 3128P7LM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4469 | PA      | $4505.49       | 0.00%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080196 G2 05/28 FLOATING VAR              | CUSIP: 36225CGE0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        434 | PA      | $435.31        | 0.00%             | 2028-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY1513 FN 06/53 FIXED 5                      | CUSIP: 3140NHVF2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     338839 | PA      | $342289.62     | 0.03%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RA7000 FR 03/52 FIXED 2.5            | CUSIP: 3133KNX57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     804142 | PA      | $689328.29     | 0.06%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM4645 FN 10/38 FIXED VAR                    | CUSIP: 3140J9ET4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     194024 | PA      | $183526.16     | 0.02%             | 2038-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04598 FG 10/34 FIXED 5.5            | CUSIP: 3128M6NP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         93 | PA      | $94.26         | 0.00%             | 2034-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | OIS USD SOFR/1.84000 07/15/22-10Y LCH                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $2988153.13    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| MORTGAGE EQUITY CONVER ASSET TR 2007-FF3                          | MORTGAGE EQUITY CONVERSION ASS MECA 2007 FF3 A 144A    | CUSIP: 61911GAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1737736 | PA      | $1613310.43    | 0.14%             | 2042-05-25      | Floating      | 4.02%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ABS INC 2003-SD2                                     | BEAR STEARNS ASSET BACKED SECU BSABS 2003 SD2 2A       | CUSIP: 07384YLJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       6744 | PA      | $6637.08       | 0.00%             | 2043-06-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04837 FG 09/37 FIXED 5.5            | CUSIP: 3128M6V62<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1686 | PA      | $1765.71       | 0.00%             | 2037-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2341                                                  | FREDDIE MAC FHR 2341 PZ                                | CUSIP: 313398DG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      71289 | PA      | $74340.27      | 0.01%             | 2031-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2014-84                                         | FANNIE MAE FNR 2014 84 AI                              | CUSIP: 3136AL2X8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1512122 | PA      | $9596.23       | 0.00%             | 2043-02-25      | Floating      | 0.20%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2013-28                                         | FANNIE MAE FNR 2013 28 YS                              | CUSIP: 3136AC5B3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2499649 | PA      | $312169.43     | 0.03%             | 2042-07-25      | Floating      | 2.16%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782938 GN 03/40 FIXED 5.5                    | CUSIP: 36241LHP4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     218366 | PA      | $229536.75     | 0.02%             | 2040-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080363 G2 01/30 FLOATING VAR              | CUSIP: 36225CMM5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2486 | PA      | $2496.03       | 0.00%             | 2030-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782920 GN 03/40 FIXED 5.5                    | CUSIP: 36241LG59<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18867 | PA      | $19833.63      | 0.00%             | 2040-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA1227 G2 08/43 FIXED 5                   | CUSIP: 36179NLG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1408130 | PA      | $1447909.39    | 0.12%             | 2043-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 705406 GN 01/39 FIXED 6.5                    | CUSIP: 36296YU75<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5875 | PA      | $5895.99       | 0.00%             | 2039-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004164 G2 06/38 FIXED 6                   | CUSIP: 36202ETV1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4231 | PA      | $4288.38       | 0.00%             | 2038-06-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2015-102                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2015 102 PI         | CUSIP: 38379NWK4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     828877 | PA      | $126411.97     | 0.01%             | 2045-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 462599 GN 03/28 FIXED 6.5                    | CUSIP: 36208V3G8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        428 | PA      | $439.92        | 0.00%             | 2028-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05326 FG 02/38 FIXED 5              | CUSIP: 3128M7HB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     810439 | PA      | $833247.13     | 0.07%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 254796 FN 07/33 FIXED 6.5                    | CUSIP: 31371K7H8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2607 | PA      | $2706.15       | 0.00%             | 2033-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 780747 GN 03/28 FIXED 6.5                    | CUSIP: 36225AZL7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         74 | PA      | $75.28         | 0.00%             | 2028-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 675394 GN 05/38 FIXED 6.5                    | CUSIP: 36295NKF3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      68526 | PA      | $71964.00      | 0.01%             | 2038-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782932 GN 04/40 FIXED 5                      | CUSIP: 36241LHH2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     151592 | PA      | $155909.01     | 0.01%             | 2040-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 5 JUMBOS                             | CUSIP: 21H050615<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   54800000 | PA      | $54683319.84   | 4.61%             | 2055-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004447 G2 05/39 FIXED 5                   | CUSIP: 36202E5G0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     143461 | PA      | $147250.17     | 0.01%             | 2039-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 942569 FN 08/37 FIXED 6                      | CUSIP: 31413DT23<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1851 | PA      | $1942.38       | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MASTR ASSET BACKED SEC TR 2005-NC1                                | MASTR ASSET BACKED SECURITIES MABS 2005 NC1 M2         | CUSIP: 57643LGG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     354886 | PA      | $365580.00     | 0.03%             | 2034-12-25      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G06020 FG 12/39 FIXED 5.5            | CUSIP: 3128M8AV6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13809 | PA      | $14415.69      | 0.00%             | 2039-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ASSET-BACKED CERT 2007-13                             | COUNTRYWIDE ASSET BACKED CERTI CWL 2007 13 2A1         | CUSIP: 126698AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     646383 | PA      | $596558.54     | 0.05%             | 2047-10-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QG5279 FR 06/53 FIXED 5              | CUSIP: 3133C52L4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     148613 | PA      | $149812.30     | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 766177 FN 02/34 FIXED 5.5                    | CUSIP: 31404EFS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4980 | PA      | $5052.98       | 0.00%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM6156 FN 01/49 FLOATING VAR                 | CUSIP: 3140JAZW1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1083272 | PA      | $1128774.20    | 0.10%             | 2049-01-01      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02689 FG 01/37 FIXED 6.5            | CUSIP: 3128M4KA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13844 | PA      | $14745.45      | 0.00%             | 2037-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 557521 GN 07/31 FIXED 6.5                    | CUSIP: 36213LLA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         51 | PA      | $52.82         | 0.00%             | 2031-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 948989 FN 08/37 FIXED 6                      | CUSIP: 31413LXS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1156 | PA      | $1198.69       | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 698386 GN 07/39 FIXED 4.5                    | CUSIP: 36296Q2T5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     649262 | PA      | $651905.71     | 0.05%             | 2039-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 677309 GN 09/38 FIXED 6.5                    | CUSIP: 36295QN22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9944 | PA      | $10478.14      | 0.00%             | 2038-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE ACQ CORP 2005-RM1                              | JP MORGAN MORTGAGE ACQUISITION JPMAC 2006 RM1 A2       | CUSIP: 46629NAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      32898 | PA      | $14629.29      | 0.00%             | 2036-08-25      | Floating      | 4.01%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 931520 FN 07/29 FIXED 4.5                    | CUSIP: 31412P4D0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7588 | PA      | $7621.16       | 0.00%             | 2029-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AV0016 FN 10/28 FIXED 3                      | CUSIP: 3138XBAS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      41972 | PA      | $41410.26      | 0.00%             | 2028-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256170 FN 03/26 FIXED 5                      | CUSIP: 31371MQX8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        127 | PA      | $126.40        | 0.00%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 905380 FN 11/36 FIXED 6.5                    | CUSIP: 31411D2M0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     253762 | PA      | $268935.14     | 0.02%             | 2036-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03964 FG 02/38 FIXED 5.5            | CUSIP: 3128M5WZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8146 | PA      | $8509.37       | 0.00%             | 2038-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 949728 FN 09/37 FIXED 6.5                    | CUSIP: 31413MSR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7866 | PA      | $8245.46       | 0.00%             | 2037-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05891 FG 06/39 FIXED 5.5            | CUSIP: 3128M72Y1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      33945 | PA      | $35426.80      | 0.00%             | 2039-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 670978 GN 11/37 FIXED 6.5                    | CUSIP: 36295HM31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28069 | PA      | $29579.78      | 0.00%             | 2037-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2018-85                                         | FANNIE MAE FNR 2018 85 IO                              | CUSIP: 3136B3QF0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3036486 | PA      | $390924.17     | 0.03%             | 2048-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782295 GN 03/38 FIXED 5.5                    | CUSIP: 36241KRQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10333 | PA      | $10861.79      | 0.00%             | 2038-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A92922 FG 07/40 FIXED 5              | CUSIP: 312941G76<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      53796 | PA      | $55414.76      | 0.00%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 703002 GN 04/39 FIXED 4.5                    | CUSIP: 36296WAB2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9231 | PA      | $9382.27       | 0.00%             | 2039-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AB3273 FN 07/41 FIXED 4.5                    | CUSIP: 31416YT73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2809230 | PA      | $2827567.75    | 0.24%             | 2041-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 697141 GN 08/38 FIXED 6.5                    | CUSIP: 36296PP21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3721 | PA      | $3918.86       | 0.00%             | 2038-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QG5280 FR 06/53 FIXED 5              | CUSIP: 3133C52M2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     130330 | PA      | $131292.14     | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LOAN TR 2006-OA8                          | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 OA8 2A4      | CUSIP: 02147CAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1478726 | PA      | $1096732.92    | 0.09%             | 2046-07-25      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 988031 FN 08/38 FIXED 6                      | CUSIP: 31415SSU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        685 | PA      | $702.47        | 0.00%             | 2038-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782858 GN 11/39 FIXED 6                      | CUSIP: 36241LE77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7377 | PA      | $7792.32       | 0.00%             | 2039-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RA7001 FR 03/52 FIXED 2.5            | CUSIP: 3133KNX65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     792921 | PA      | $680122.81     | 0.06%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 897472 FN 11/36 FIXED 6                      | CUSIP: 31410UCH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2200 | PA      | $2257.33       | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A73872 FG 03/38 FIXED 5              | CUSIP: 3128L7JR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4638 | PA      | $4777.75       | 0.00%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 676842 GN 05/38 FIXED 5.5                    | CUSIP: 36295P5B4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      26304 | PA      | $27629.13      | 0.00%             | 2038-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AZ1909 FN 06/45 FIXED 3                      | CUSIP: 3138YTDP6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25324 | PA      | $22822.60      | 0.00%             | 2045-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BD9140 G2 01/48 FIXED 3.5                 | CUSIP: 3617BREM4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1857497 | PA      | $1715441.78    | 0.14%             | 2048-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BT0861 GN 03/50 FIXED 3                      | CUSIP: 3617MN5W9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3518012 | PA      | $3164885.54    | 0.27%             | 2050-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 878534 FN 02/36 FIXED 6                      | CUSIP: 31409UBB0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15617 | PA      | $16270.01      | 0.00%             | 2036-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002444 G2 06/27 FIXED 7.5                 | CUSIP: 36202CWD1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        263 | PA      | $264.92        | 0.00%             | 2027-06-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5399 G2 08/48 FIXED 4.5                 | CUSIP: 36179T7L3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4294423 | PA      | $4262751.98    | 0.36%             | 2048-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A77399 FG 05/38 FIXED 5              | CUSIP: 3128LBGG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12457 | PA      | $12811.82      | 0.00%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2118                                                  | FREDDIE MAC FHR 2118 PE                                | CUSIP: 3133THS81<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12129 | PA      | $12425.99      | 0.00%             | 2029-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91244 FG 04/29 FIXED 4.5            | CUSIP: 3128P7LZ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5865 | PA      | $5907.77       | 0.00%             | 2029-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004083 G2 02/38 FIXED 5                   | CUSIP: 36202ERC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4862 | PA      | $4992.08       | 0.00%             | 2038-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05109 FG 11/36 FIXED 5.5            | CUSIP: 3128M7AJ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1738 | PA      | $1814.44       | 0.00%             | 2036-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783213 GN 09/40 FIXED 5.5                    | CUSIP: 36241LSA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     442175 | PA      | $464823.35     | 0.04%             | 2040-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 845357 FN 01/36 FIXED 6                      | CUSIP: 31408AE63<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        984 | PA      | $1010.00       | 0.00%             | 2036-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MLCC MORTGAGE INVESTORS INC 2003-G                                | MLCC MORTGAGE INVESTORS INC MLCC 2003 G A4B            | CUSIP: 5899296K9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     409221 | PA      | $352947.21     | 0.03%             | 2029-01-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2006-AR15                                       | WAMU MORTGAGE PASS THROUGH CER WAMU 2006 AR15 1A       | CUSIP: 93363QAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      98897 | PA      | $86162.18      | 0.01%             | 2046-11-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A88843 FG 11/37 FIXED 5.5            | CUSIP: 312935ZG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8147 | PA      | $8532.04       | 0.00%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM4521 FN 08/38 FIXED VAR                    | CUSIP: 3140J9AX9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1071876 | PA      | $1059257.00    | 0.09%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SMALL BUSINESS ADMIN PART CERT 2006-20E                           | SMALL BUSINESS ADMINISTRATION SBAP 2006 20E 1          | CUSIP: 83162CQG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       5731 | PA      | $5737.71       | 0.00%             | 2026-05-01      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| SALOMON BROTHERS MTGE SEC VII 2002-WMC1                           | SALOMON BROTHERS MORTGAGE SECU SBM7 2002 WMC1 M1       | CUSIP: 79549AKF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      21741 | PA      | $21733.90      | 0.00%             | 2032-01-25      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 649488 GN 09/35 FIXED 5                      | CUSIP: 36292HRH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1086 | PA      | $1110.03       | 0.00%             | 2035-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY4058 FN 06/53 FIXED 5                      | CUSIP: 3140NLQL6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     238502 | PA      | $241055.19     | 0.02%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2016-118                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2016 118 IE         | CUSIP: 38380AUU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     201428 | PA      | $29608.24      | 0.00%             | 2046-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BC0616 G2 08/47 FIXED 3.5                 | CUSIP: 3617B3VH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     470111 | PA      | $434000.16     | 0.04%             | 2047-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 655348 GN 05/36 FIXED 6.5                    | CUSIP: 36294PBR3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2065 | PA      | $2185.98       | 0.00%             | 2036-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS9646 FN 05/37 FIXED 4                      | CUSIP: 3138WKWG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2493589 | PA      | $2482331.87    | 0.21%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080384 G2 03/30 FLOATING VAR              | CUSIP: 36225CNA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22936 | PA      | $23042.78      | 0.00%             | 2030-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET SECURITIES CRP 2003-22A                          | STRUCTURED ASSET SECURITIES CO SASC 2003 22A 2A1       | CUSIP: 86359AYX5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        940 | PA      | $922.62        | 0.00%             | 2033-06-25      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A61634 FG 06/34 FIXED 5              | CUSIP: 3128KRY73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14527 | PA      | $14785.98      | 0.00%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BS5111 GN 01/50 FIXED 3.5                    | CUSIP: 3617MFVC1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      69370 | PA      | $63763.93      | 0.01%             | 2050-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 796797 FN 02/35 FIXED 5.5                    | CUSIP: 31405RGE0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51163 | PA      | $52940.38      | 0.00%             | 2035-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 3924                                           | FREDDIE MAC FHR 3924 KI                                | CUSIP: 3137AF6R8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      45026 | PA      | $306.91        | 0.00%             | 2026-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CITIMORTGAGE ALTERNATIVE LN TR 2007-A6                            | CITIMORTGAGE ALTERNATIVE LOAN CMALT 2007 A6 1A5        | CUSIP: 18976GAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     313708 | PA      | $289185.41     | 0.02%             | 2037-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782579 GN 02/39 FIXED 5.5                    | CUSIP: 36241K2L1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      31569 | PA      | $32996.57      | 0.00%             | 2039-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA0025 G2 04/42 FIXED 5                   | CUSIP: 36179MA26<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3518 | PA      | $3621.20       | 0.00%             | 2042-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SMALL BUSINESS ADMIN PART CERTS 2008-20L                          | SMALL BUSINESS ADMINISTRATION SBAP 2008 20L 1          | CUSIP: 83162CSE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      34743 | PA      | $35640.01      | 0.00%             | 2028-12-01      | Fixed         | 6.22%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783287 GN 08/40 FIXED 6                      | CUSIP: 36241LUL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29609 | PA      | $31062.13      | 0.00%             | 2040-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ADJ RATE MTGE TR 2003-6                              | BEAR STEARNS ADJUSTABLE RATE M BSARM 2003 6 1A1        | CUSIP: 07384MWW8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      37455 | PA      | $36851.85      | 0.00%             | 2033-08-25      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 746066 GN 04/41 FIXED 4.5                    | CUSIP: 3620C1Z74<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     166661 | PA      | $165808.87     | 0.01%             | 2041-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 994016 FN 09/39 FIXED 4                      | CUSIP: 31416AGZ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     182126 | PA      | $178549.12     | 0.02%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 948690 FN 08/37 FIXED 6                      | CUSIP: 31413LNF2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      31581 | PA      | $33321.14      | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 725773 FN 09/34 FIXED VAR                    | CUSIP: 31402DJS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16033 | PA      | $16515.87      | 0.00%             | 2034-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781261 GN 02/31 FIXED 7.5                    | CUSIP: 36225BMJ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         17 | PA      | $16.92         | 0.00%             | 2031-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GE-WMC MORTGAGE SECURITIES LLC 2006-1                             | GE WMC MORTGAGE SECURITIES LLC GEWMC 2006 1 A2A        | CUSIP: 36829JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      31863 | PA      | $13548.45      | 0.00%             | 2036-08-25      | Floating      | 3.93%                 | No            |                  2 | On Loan: No      |
| MLCC MORTGAGE INVESTORS INC 2005-1                                | MLCC MORTGAGE INVESTORS INC MLCC 2005 1 2A1            | CUSIP: 59020UUK9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       2346 | PA      | $2137.62       | 0.00%             | 2035-04-25      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 5.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F052623<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  352300000 | PA      | $356923310.41  | 30.06%            | 2056-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2024-CES1                                     | WOODWARD CAPITAL MANAGEMENT RCKT 2024 CES1 A1A 144A    | CUSIP: 749424AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     373818 | PA      | $377168.64     | 0.03%             | 2044-02-25      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01820 FG 06/35 FIXED 5.5            | CUSIP: 3128LXAV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1058715 | PA      | $1107385.78    | 0.09%             | 2035-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775778 FN 05/34 FIXED 5.5                    | CUSIP: 31404Q2K4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8704 | PA      | $8831.52       | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | US 5YR NOTE (CBT) MAR26 XCBT 20260331                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |      11420 | NC      | $-2337439.83   | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A29015 FG 12/34 FIXED 5              | CUSIP: 31297HAQ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15451 | PA      | $15862.74      | 0.00%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS-3598                                           | FREDDIE MAC FHR 3598 JI                                | CUSIP: 31398KZ94<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      39706 | PA      | $1866.33       | 0.00%             | 2037-10-15      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BG5675 G2 07/48 FIXED 4                   | CUSIP: 3617GQJU8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     331483 | PA      | $323716.03     | 0.03%             | 2048-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A89387 FG 10/39 FIXED 5.5            | CUSIP: 312936NC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      34150 | PA      | $35640.99      | 0.00%             | 2039-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 254006 FN 10/31 FIXED 6                      | CUSIP: 31371KDK4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        123 | PA      | $125.83        | 0.00%             | 2031-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2019-62                                         | FANNIE MAE FNR 2019 62 FA                              | CUSIP: 3136B6Z48<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    9856894 | PA      | $9741404.57    | 0.82%             | 2059-11-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| GREENPOINT MTGE FUNDING TR 2006-AR3                               | GREENPOINT MORTGAGE FUNDING TR GPMF 2006 AR3 4A2       | CUSIP: 39538WHG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     444735 | PA      | $404845.93     | 0.03%             | 2036-04-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4265                                           | FREDDIE MAC FHR 4265 LS                                | CUSIP: 3137B5RV7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3158929 | PA      | $2981224.72    | 0.25%             | 2035-01-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G30419 FG 11/28 FIXED 5              | CUSIP: 3128CUPC4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15599 | PA      | $15708.66      | 0.00%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 555436 FN 05/33 FIXED VAR                    | CUSIP: 31385XBD8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28337 | PA      | $29361.18      | 0.00%             | 2033-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 755411 FH 02/27 FLOATING VAR         | CUSIP: 31349HAL1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5536 | PA      | $5547.81       | 0.00%             | 2027-02-01      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 542633 GN 03/31 FIXED 7.5                    | CUSIP: 36212SY67<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        900 | PA      | $915.59        | 0.00%             | 2031-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782888 GN 02/40 FIXED 5                      | CUSIP: 36241LF50<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20231 | PA      | $20816.98      | 0.00%             | 2040-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5467 G2 09/48 FIXED 4.5                 | CUSIP: 36179UCC4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     216052 | PA      | $214363.95     | 0.02%             | 2048-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03447 FG 10/37 FIXED 5.5            | CUSIP: 3128M5EU0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3840 | PA      | $4021.21       | 0.00%             | 2037-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL P28000 FG 12/34 FIXED 5.5            | CUSIP: 3128M2AA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10349 | PA      | $10544.94      | 0.00%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04458 FG 06/38 FIXED 5.5            | CUSIP: 3128M6JB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2831 | PA      | $2954.08       | 0.00%             | 2038-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AU9994 FN 10/43 FIXED 4                      | CUSIP: 3138XAC87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     187081 | PA      | $182702.66     | 0.02%             | 2043-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AQ3206 FN 11/42 FIXED 4                      | CUSIP: 3138MJR43<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     337033 | PA      | $329847.90     | 0.03%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91065 FG 07/27 FIXED 6              | CUSIP: 3128P7FE8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1443 | PA      | $1482.06       | 0.00%             | 2027-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04794 FG 01/36 FIXED 5.5            | CUSIP: 3128M6UT3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29251 | PA      | $30632.31      | 0.00%             | 2036-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 895852 FN 11/35 FLOATING VAR                 | CUSIP: 31410SH59<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     200971 | PA      | $203551.70     | 0.02%             | 2035-11-01      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 949069 FN 09/37 FIXED 6.5                    | CUSIP: 31413L2A6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9141 | PA      | $9637.89       | 0.00%             | 2037-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 535909 FN 05/31 FIXED VAR                    | CUSIP: 31384WKW9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         28 | PA      | $28.83         | 0.00%             | 2031-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL SC0050 FR 02/40 FIXED 3              | CUSIP: 3132D9BT0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4246191 | PA      | $3971095.31    | 0.33%             | 2040-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AU7388 FN 10/43 FIXED 5                      | CUSIP: 3138X7F65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      35635 | PA      | $36367.23      | 0.00%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003747 G2 08/35 FIXED 5                   | CUSIP: 36202EEU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6911 | PA      | $7071.46       | 0.00%             | 2035-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BA7886 GN 05/47 FIXED 4                      | CUSIP: 3617ALXP0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     197751 | PA      | $189544.91     | 0.02%             | 2047-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 531298 GN 08/30 FIXED 8.5                    | CUSIP: 36212EGF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        188 | PA      | $189.51        | 0.00%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04891 FG 01/38 FIXED 5.5            | CUSIP: 3128M6XU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      39365 | PA      | $41224.70      | 0.00%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY2122 FN 06/53 FIXED 5                      | CUSIP: 3140NJLC6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     191659 | PA      | $193926.71     | 0.02%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 252453 FN 03/29 FIXED 6.5                    | CUSIP: 31371HMA3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        352 | PA      | $365.67        | 0.00%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02967 FG 05/37 FIXED 5.5            | CUSIP: 3128M4TY9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      74878 | PA      | $78418.86      | 0.01%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 392411 FN 02/28 FIXED 6.5                    | CUSIP: 31377Z3U4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2169 | PA      | $2250.96       | 0.00%             | 2028-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GSR MORTGAGE LOAN TRUST 2006-AR2                                  | GSR MORTGAGE LOAN TRUST GSR 2006 AR2 2A1               | CUSIP: 36297TAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100691 | PA      | $59554.07      | 0.01%             | 2036-04-25      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTG INV INC 2004-AR5                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2004 AR5 1A1       | CUSIP: 86359LDX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      23379 | PA      | $22674.10      | 0.00%             | 2034-10-19      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02252 FG 07/36 FIXED 5.5            | CUSIP: 3128LXQD5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13396 | PA      | $14029.20      | 0.00%             | 2036-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05852 FG 03/39 FIXED 5.5            | CUSIP: 3128M7ZR0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     102928 | PA      | $107421.09     | 0.01%             | 2039-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FS1026 FN 02/52 FIXED VAR                    | CUSIP: 3140XGD89<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     185932 | PA      | $165124.15     | 0.01%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080220 G2 08/28 FLOATING VAR              | CUSIP: 36225CG67<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2131 | PA      | $2145.61       | 0.00%             | 2028-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| ELLINGTON LOAN ACQUISITION TRUST 2007-1                           | ELLINGTON LOAN ACQUISITION TRU ELAT 2007 1 A1 144A     | CUSIP: 288542AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     260993 | PA      | $256594.33     | 0.02%             | 2037-05-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RA2134 FR 02/50 FIXED 3.5            | CUSIP: 3133KHLP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     668737 | PA      | $630245.71     | 0.05%             | 2050-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002412 G2 04/27 FIXED 7                   | CUSIP: 36202CVD2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        125 | PA      | $128.18        | 0.00%             | 2027-04-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BD1201 FN 06/46 FIXED 4                      | CUSIP: 3140F8KP1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     194665 | PA      | $188479.73     | 0.02%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 745637 FN 12/34 FIXED VAR                    | CUSIP: 31403DLS6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1677 | PA      | $1765.13       | 0.00%             | 2034-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 657144 GN 04/37 FIXED 6                      | CUSIP: 36294RBM0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1322 | PA      | $1364.18       | 0.00%             | 2037-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 773232 FN 01/35 FIXED 5.5                    | CUSIP: 31404NA97<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2255 | PA      | $2357.41       | 0.00%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2106                                                  | FREDDIE MAC FHR 2106 ZB                                | CUSIP: 3133THDB0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23690 | PA      | $24091.88      | 0.00%             | 2028-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2021-1                                          | FANNIE MAE FNR 2021 1 IY                               | CUSIP: 3136BD2F4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   33868735 | PA      | $1655791.63    | 0.14%             | 2036-02-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BJ4127 G2 10/48 FIXED 4.5                 | CUSIP: 3617HRSQ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      59742 | PA      | $58027.51      | 0.00%             | 2048-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 929207 FN 03/38 FIXED 6.5                    | CUSIP: 31412MKU1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13034 | PA      | $13872.69      | 0.00%             | 2038-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C01443 FG 01/33 FIXED 5.5            | CUSIP: 31292HS88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     237057 | PA      | $246469.74     | 0.02%             | 2033-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 891565 G2 01/59 FLOATING VAR              | CUSIP: 36208A2R1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8880 | PA      | $8953.69       | 0.00%             | 2059-01-20      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY MTGE LN TR 2007-6XS                                | MORGAN STANLEY MORTGAGE LOAN T MSM 2007 6XS 1A1        | CUSIP: 61751JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     748251 | PA      | $276101.23     | 0.02%             | 2047-02-25      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2013-32                                         | FANNIE MAE FNR 2013 32 AC                              | CUSIP: 3136ADKA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     160389 | PA      | $153467.01     | 0.01%             | 2043-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/4.19200 11/08/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $418869.51     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AR2210 FN 05/43 FIXED 4                      | CUSIP: 3138NYN43<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     120528 | PA      | $118501.64     | 0.01%             | 2043-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 5 SINGLE FAMILY MORTGAGE                | CUSIP: 01F050627<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  286603782 | PA      | $285562602.05  | 24.05%            | 2056-02-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                                | US TREASURY N/B 08/44 4.125                            | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   69800000 | PA      | $64082398.61   | 5.40%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002973 G2 09/30 FIXED 8                   | CUSIP: 36202DJS1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        697 | PA      | $720.88        | 0.00%             | 2030-09-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ADJUSTABLE RATE MORTGAGE TRUST 2003-8                | BEAR STEARNS ADJUSTABLE RATE M BSARM 2003 8 1A1        | CUSIP: 07384MZQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        662 | PA      | $653.33        | 0.00%             | 2034-01-25      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2178                                                  | FREDDIE MAC FHR 2178 PI                                | CUSIP: 3133TLUJ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        370 | PA      | $32.55         | 0.00%             | 2029-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| AFC HOME EQUITY LOAN TRUST 1999-2                                 | AFC HOME EQUITY LOAN TRUST AFC 1999 2 1A               | CUSIP: 00105HDZ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     111890 | PA      | $84014.07      | 0.01%             | 2029-06-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/4.18500 10/10/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $-2170166.46   | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781630 GN 07/33 FIXED 5.5                    | CUSIP: 36225BY36<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        350 | PA      | $359.50        | 0.00%             | 2033-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080085 G2 06/27 FLOATING VAR              | CUSIP: 36225CCX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        929 | PA      | $932.58        | 0.00%             | 2027-06-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02620 FG 02/37 FIXED 5.5            | CUSIP: 3128M4G56<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        494 | PA      | $517.06        | 0.00%             | 2037-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY MTGE LN TR 2007-8XS                                | MORGAN STANLEY MORTGAGE LOAN T MSM 2007 8XS A1         | CUSIP: 61754PAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     439869 | PA      | $211394.77     | 0.02%             | 2037-04-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BJ3862 FN 01/38 FIXED 3                      | CUSIP: 3140H5JG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2685500 | PA      | $2539288.08    | 0.21%             | 2038-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FS2338 FN 11/46 FIXED VAR                    | CUSIP: 3140XHS40<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4336200 | PA      | $4009318.37    | 0.34%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 6 JUMBOS                             | CUSIP: 21H060614<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   33000000 | PA      | $33632929.77   | 2.83%             | 2055-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.75000 09/17/25-10Y LCH                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $226548.95     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AZ3529 G2 07/47 FIXED 3.5                 | CUSIP: 36197F4N0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     330596 | PA      | $305185.52     | 0.03%             | 2047-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 449010 GN 08/27 FIXED 8.5                    | CUSIP: 36208EYF4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13549 | PA      | $13739.01      | 0.00%             | 2027-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2001-15                                                | FANNIE MAE FNR 2001 15 Z                               | CUSIP: 31359SPN4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      60196 | PA      | $61984.59      | 0.01%             | 2031-04-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA2682 FN 03/33 FIXED 2                      | CUSIP: 3140Q96U2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     663689 | PA      | $629908.94     | 0.05%             | 2033-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| VENDEE MORTGAGE TRUST 2000-1                                      | VENDEE MORTGAGE TRUST VENDE 2000 1 1A                  | CUSIP: 911760NH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      43695 | PA      | $44873.65      | 0.00%             | 2030-01-15      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 631530 GN 07/34 FIXED 5                      | CUSIP: 36291LST3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1042 | PA      | $1061.35       | 0.00%             | 2034-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AD2154 FN 05/40 FIXED 5                      | CUSIP: 31418PMC6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     106256 | PA      | $108017.14     | 0.01%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.70500 01/10/24-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $238016.88     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A78147 FG 06/38 FIXED 5.5            | CUSIP: 3128LCBQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2725 | PA      | $2845.16       | 0.00%             | 2038-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 696940 FN 04/33 FIXED 5.5                    | CUSIP: 31400THR1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2187 | PA      | $2218.90       | 0.00%             | 2033-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AH9863 FN 04/26 FIXED 4                      | CUSIP: 3138AB5Z8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        351 | PA      | $349.91        | 0.00%             | 2026-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BM1222 G2 05/49 FIXED 3.5                 | CUSIP: 3617JRLB2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     396276 | PA      | $361065.31     | 0.03%             | 2049-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL7589 FN 10/45 FIXED VAR                    | CUSIP: 3138EQNF5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28195 | PA      | $26786.13      | 0.00%             | 2045-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 665963 GN 02/38 FIXED 6                      | CUSIP: 36295BZ48<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14671 | PA      | $15447.78      | 0.00%             | 2038-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 933017 FN 10/37 FIXED 6.5                    | CUSIP: 31412SAS4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6331 | PA      | $6641.12       | 0.00%             | 2037-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET INVEST LN TR 2004-BNC2                           | STRUCTURED ASSET INVESTMENT LO SAIL 2004 BNC2 M1       | CUSIP: 86358ENJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     975526 | PA      | $959746.69     | 0.08%             | 2034-12-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 673228 GN 11/38 FIXED 5.5                    | CUSIP: 36295K4M2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20045 | PA      | $20992.12      | 0.00%             | 2038-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781001 GN 03/29 FIXED 7.5                    | CUSIP: 36225BDE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        215 | PA      | $217.85        | 0.00%             | 2029-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BH3643 FN 06/47 FIXED 5                      | CUSIP: 3140GSBM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     123293 | PA      | $124175.26     | 0.01%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 651871 GN 10/36 FIXED 6.5                    | CUSIP: 36292LFL3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1106 | PA      | $1130.50       | 0.00%             | 2036-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RB5166 FR 07/42 FIXED 3              | CUSIP: 3133KYW39<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     585551 | PA      | $546556.05     | 0.05%             | 2042-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BG3914 G2 05/48 FIXED 3.5                 | CUSIP: 3617GNK33<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     350518 | PA      | $323576.29     | 0.03%             | 2048-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05120 FG 12/38 FIXED 5.5            | CUSIP: 3128M7AV8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     118695 | PA      | $123874.57     | 0.01%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002922 G2 05/30 FIXED 8                   | CUSIP: 36202DG70<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4727 | PA      | $4977.90       | 0.00%             | 2030-05-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2006-3                                     | COUNTRYWIDE HOME LOANS CWHL 2006 3 2A2                 | CUSIP: 126694YN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       4051 | PA      | $3695.61       | 0.00%             | 2036-03-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 771924 FN 05/34 FIXED 5.5                    | CUSIP: 31404LSM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      19490 | PA      | $19774.92      | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 708631 FN 06/33 FIXED 6                      | CUSIP: 31401HHG0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        960 | PA      | $986.06        | 0.00%             | 2033-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 1997-79                                                | FANNIE MAE FNR 1997 79 PL                              | CUSIP: 31359RAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16816 | PA      | $16866.50      | 0.00%             | 2027-12-18      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 713698 FN 08/33 FIXED 5.5                    | CUSIP: 31401N3F4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3525 | PA      | $3575.36       | 0.00%             | 2033-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AN5728 GN 06/45 FIXED 3                      | CUSIP: 36186NLH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      27699 | PA      | $25453.96      | 0.00%             | 2045-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RESIDENTIAL ASSET MTGE PROD 2005-EFC4                             | RESIDENTIAL ASSET MORTGAGE PRO RAMP 2005 EFC4 M5       | CUSIP: 76112BC81<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1285636 | PA      | $1273358.25    | 0.11%             | 2035-09-25      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 888813 FN 03/37 FIXED VAR                    | CUSIP: 31410GN66<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38940 | PA      | $41209.90      | 0.00%             | 2037-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BR6169 GN 12/49 FIXED 3.5                    | CUSIP: 3617M42A2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     201653 | PA      | $185499.48     | 0.02%             | 2049-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 825393 FN 06/35 FIXED 6                      | CUSIP: 31407A7E5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8057 | PA      | $8334.33       | 0.00%             | 2035-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL7579 FN 02/42 FIXED VAR                    | CUSIP: 3138EQM58<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      68159 | PA      | $71301.84      | 0.01%             | 2042-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08448 FG 05/41 FIXED 5              | CUSIP: 3128MJQA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25841 | PA      | $26595.01      | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AZ7035 G2 04/47 FIXED 3.5                 | CUSIP: 36197KY89<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     349669 | PA      | $320708.01     | 0.03%             | 2047-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2019-62                                         | FANNIE MAE FNR 2019 62 SN                              | CUSIP: 3136B62S1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1860390 | PA      | $241760.12     | 0.02%             | 2049-11-25      | Floating      | 2.01%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A36995 FG 09/35 FIXED 5.5            | CUSIP: 31297SXY6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9524 | PA      | $9890.69       | 0.00%             | 2035-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AB0514 FN 09/38 FIXED 6.5                    | CUSIP: 31416VSC9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      80041 | PA      | $85278.52      | 0.01%             | 2038-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RESIDENTIAL ASSET MORTGAGE PROD 2006-RS2                          | RESIDENTIAL ASSET MORTGAGE PRO RAMP 2006 RS2 A3A       | CUSIP: 76112B2D1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      27180 | PA      | $27023.02      | 0.00%             | 2036-03-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080114 G2 09/27 FLOATING VAR              | CUSIP: 36225CDU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        106 | PA      | $106.39        | 0.00%             | 2027-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FS1910 FN 01/44 FIXED VAR                    | CUSIP: 3140XHDQ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     295467 | PA      | $284062.01     | 0.02%             | 2044-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 713947 FN 05/33 FIXED 5.5                    | CUSIP: 31401PEU4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4491 | PA      | $4556.29       | 0.00%             | 2033-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OPTION ONE MORTGAGE LOAN TRUST 2007-1                             | OPTION ONE MORTGAGE LOAN TRUST OOMLT 2007 1 2A3        | CUSIP: 68400DAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     435687 | PA      | $256775.57     | 0.02%             | 2037-01-25      | Floating      | 4.13%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 810408 FN 01/35 FIXED 5.5                    | CUSIP: 31406HKV8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        631 | PA      | $654.08        | 0.00%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIEMAE WHOLE LOAN 2001-W2                                      | FANNIEMAE WHOLE LOAN FNW 2001 W2 AF6                   | CUSIP: 313920XZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         50 | PA      | $50.70         | 0.00%             | 2031-10-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZK8567 FR 02/32 FIXED 2.5            | CUSIP: 3131XCQU4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29287 | PA      | $28217.31      | 0.00%             | 2032-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ASSET-BACKED CERT 2007-1                              | COUNTRYWIDE ASSET BACKED CERTI CWL 2007 1 1A           | CUSIP: 23245CAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     639860 | PA      | $593740.91     | 0.05%             | 2037-07-25      | Floating      | 4.13%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS8686 FN 01/47 FIXED 3                      | CUSIP: 3138WJUL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     488423 | PA      | $443152.77     | 0.04%             | 2047-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL5449 FN 06/44 FIXED VAR                    | CUSIP: 3138ENBT5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      45601 | PA      | $45542.33      | 0.00%             | 2044-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 972103 FH 05/32 FLOATING VAR         | CUSIP: 31336CKQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      54238 | PA      | $55425.25      | 0.00%             | 2032-05-01      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 955031 FN 10/37 FIXED 6.5                    | CUSIP: 31413TPQ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        446 | PA      | $472.41        | 0.00%             | 2037-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 751203 FN 01/34 FIXED 5.5                    | CUSIP: 31403KRY1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2373 | PA      | $2457.08       | 0.00%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS1339 FN 12/43 FIXED 5                      | CUSIP: 3138WAPZ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     134693 | PA      | $137470.90     | 0.01%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 778066 FN 05/34 FIXED 5.5                    | CUSIP: 31404TMP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3366 | PA      | $3458.59       | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DRYDEN CLO LTD 2018-64A                                           | DRYDEN SENIOR LOAN FUND DRSLF 2018 64A A 144A          | CUSIP: 26251LAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1252018 | PA      | $1252637.34    | 0.11%             | 2031-04-18      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 518691 GN 12/29 FIXED 8.5                    | CUSIP: 36211PF81<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3523 | PA      | $3585.46       | 0.00%             | 2029-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 946744 FN 08/37 FIXED 6                      | CUSIP: 31413JHV9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      53557 | PA      | $55352.34      | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 555281 FN 03/33 FIXED VAR                    | CUSIP: 31385W2N8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5893 | PA      | $6106.60       | 0.00%             | 2033-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 911582 FN 04/37 FIXED 5.5                    | CUSIP: 31411LXK2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1600 | PA      | $1668.30       | 0.00%             | 2037-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782539 GN 11/38 FIXED 5.5                    | CUSIP: 36241KZC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      67961 | PA      | $71275.23      | 0.01%             | 2038-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 698330 GN 05/39 FIXED 5                      | CUSIP: 36296QY37<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      91677 | PA      | $94358.87      | 0.01%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BF4029 G2 02/48 FIXED 3.5                 | CUSIP: 3617GAPN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     530445 | PA      | $489682.04     | 0.04%             | 2048-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783575 GN 03/40 FIXED 5.5                    | CUSIP: 36241L6L5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28596 | PA      | $29898.71      | 0.00%             | 2040-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C03458 FG 02/40 FIXED 5              | CUSIP: 31292KZX8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      41088 | PA      | $42324.23      | 0.00%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03290 FG 08/36 FIXED 5.5            | CUSIP: 3128M47B3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6576 | PA      | $6886.61       | 0.00%             | 2036-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BF2570 G2 05/48 FIXED 4                   | CUSIP: 3617G82B8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     164320 | PA      | $156203.79     | 0.01%             | 2048-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 831686 FN 07/36 FIXED 6.5                    | CUSIP: 31407H6X9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25075 | PA      | $26438.15      | 0.00%             | 2036-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 766667 FN 03/34 FIXED 5.5                    | CUSIP: 31404EW44<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3382 | PA      | $3430.91       | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DELTA FUNDING HOME EQ LN TR 1999-3                                | DELTA FUNDING HOME EQUITY LOAN DELHE 1999 3 A1A        | CUSIP: 24763LFX3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       5994 | PA      | $5782.50       | 0.00%             | 2029-09-15      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 903011 FN 12/36 FIXED 6                      | CUSIP: 31411BGU1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14052 | PA      | $14825.91      | 0.00%             | 2036-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 545204 FN 05/36 FLOATING VAR                 | CUSIP: 31385HU59<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24115 | PA      | $23834.34      | 0.00%             | 2036-05-01      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| RENAISSANCE HOME EQUITY LN TR 2003-2                              | RENAISSANCE HOME EQUITY LOAN T RAMC 2003 2 A           | CUSIP: 759950AW8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     137331 | PA      | $126607.81     | 0.01%             | 2033-08-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782780 GN 09/39 FIXED 5.5                    | CUSIP: 36241LCR5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     209347 | PA      | $220070.99     | 0.02%             | 2039-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 566519 GN 06/34 FIXED 5                      | CUSIP: 36213WK88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        774 | PA      | $774.45        | 0.00%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AL5064 GN 03/45 FIXED 3                      | CUSIP: 36184BTV9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      47602 | PA      | $43054.97      | 0.00%             | 2045-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BANC OF AMERICA FUNDING CORP 2007-1                               | BANC OF AMERICA FUNDING CORPOR BAFC 2007 1 TA10        | CUSIP: 05951FAM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     360646 | PA      | $338184.55     | 0.03%             | 2037-01-25      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 773925 FN 04/34 FIXED 5.5                    | CUSIP: 31404NYW0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13030 | PA      | $13221.08      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4262                                           | FREDDIE MAC FHR 4262 SB                                | CUSIP: 3137B4XS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3324642 | PA      | $3204775.50    | 0.27%             | 2041-05-15      | Floating      | 0.35%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735504 FN 04/35 FIXED VAR                    | CUSIP: 31402RDH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51024 | PA      | $53007.29      | 0.00%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 7 SINGLE FAMILY MORTGAGE                | CUSIP: 01F070617<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    9000000 | PA      | $9472101.48    | 0.80%             | 2055-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FIRST NATIONWIDE TRUST 2001-3                                     | FIRST NATIONWIDE TRUST FNT 2001 3 1A1                  | CUSIP: 22540A3S5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       3346 | PA      | $3350.70       | 0.00%             | 2031-08-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0818 FN 08/31 FIXED 4                      | CUSIP: 31417Y4C8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      96601 | PA      | $96348.56      | 0.01%             | 2031-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 725880 FN 09/34 FIXED VAR                    | CUSIP: 31402DM56<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        395 | PA      | $411.44        | 0.00%             | 2034-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIEMAE GRANTOR TRUST 2002-T7                                   | FANNIEMAE GRANTOR TRUST FNGT 2002 T7 A1                | CUSIP: 31392DQH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17431 | PA      | $17357.47      | 0.00%             | 2032-07-25      | Floating      | 4.07%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MORTGAGE LOAN TR 2007-AR7                            | INDYMAC INDX MORTGAGE LOAN TRU INDX 2007 AR7 1A1       | CUSIP: 45670CAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     285083 | PA      | $92901.24      | 0.01%             | 2037-06-25      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 784010 GN 03/45 FIXED 4                      | CUSIP: 3622A2N32<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1367801 | PA      | $1339967.57    | 0.11%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2007-73                                                | FANNIE MAE FNR 2007 73 A1                              | CUSIP: 31396V4Q8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     162565 | PA      | $159643.16     | 0.01%             | 2037-07-25      | Floating      | 4.11%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783233 GN 07/40 FIXED 5.5                    | CUSIP: 36241LSW7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     139342 | PA      | $145062.60     | 0.01%             | 2040-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080197 G2 05/28 FLOATING VAR              | CUSIP: 36225CGF7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        963 | PA      | $970.34        | 0.00%             | 2028-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BG2414 G2 04/48 FIXED 4                   | CUSIP: 3617GLVF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     143420 | PA      | $136336.67     | 0.01%             | 2048-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 3 JUMBOS                             | CUSIP: 21H030617<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  253350000 | PA      | $227688416.65  | 19.18%            | 2055-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 517675 FN 07/29 FIXED 6.5                    | CUSIP: 31384ACL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        171 | PA      | $179.18        | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91213 FG 10/28 FIXED 6              | CUSIP: 3128P7K28<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6976 | PA      | $7166.82       | 0.00%             | 2028-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782619 GN 04/39 FIXED 5                      | CUSIP: 36241K4C9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3779 | PA      | $3889.98       | 0.00%             | 2039-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AE0441 FN 05/40 FIXED VAR                    | CUSIP: 31419AP35<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     272493 | PA      | $290046.16     | 0.02%             | 2040-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BE5659 G2 04/48 FIXED 4                   | CUSIP: 3617G0JC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     910624 | PA      | $865733.75     | 0.07%             | 2048-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003056 G2 03/31 FIXED 8                   | CUSIP: 36202DMD0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1397 | PA      | $1454.75       | 0.00%             | 2031-03-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05605 FG 04/39 FIXED 5.5            | CUSIP: 3128M7R24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24974 | PA      | $26109.46      | 0.00%             | 2039-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A15539 FG 11/33 FIXED 5.5            | CUSIP: 31296QEL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     122554 | PA      | $124443.31     | 0.01%             | 2033-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2007-1                                     | SEQUOIA MORTGAGE TRUST SEMT 2007 1 1A1                 | CUSIP: 81744HAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     189007 | PA      | $129026.53     | 0.01%             | 2047-01-20      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 955007 FN 09/37 FIXED 6.5                    | CUSIP: 31413TNY4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1098 | PA      | $1166.19       | 0.00%             | 2037-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 640225 FN 04/32 FLOATING VAR                 | CUSIP: 31390AHA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        907 | PA      | $928.96        | 0.00%             | 2032-04-01      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 759098 FN 01/34 FIXED 5.5                    | CUSIP: 31403VKK4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         99 | PA      | $100.76        | 0.00%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91239 FG 03/29 FIXED 4.5            | CUSIP: 3128P7LU5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      93351 | PA      | $93838.14      | 0.01%             | 2029-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL8092 FN 07/42 FIXED VAR                    | CUSIP: 3138EQ7E6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3866944 | PA      | $3788420.11    | 0.32%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 769615 FN 03/34 FIXED 6                      | CUSIP: 31404JAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21534 | PA      | $22384.71      | 0.00%             | 2034-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2065                                                  | FREDDIE MAC FHR 2065 Z                                 | CUSIP: 3133TEFV1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2798 | PA      | $2850.62       | 0.00%             | 2028-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 313343 FN 02/27 FLOATING VAR                 | CUSIP: 31374GBL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        614 | PA      | $614.97        | 0.00%             | 2027-02-01      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 882684 FN 06/36 FIXED 6                      | CUSIP: 31409YUH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24972 | PA      | $26106.18      | 0.00%             | 2036-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04595 FG 12/33 FIXED 5.5            | CUSIP: 3128M6NL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8856 | PA      | $8994.83       | 0.00%             | 2033-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL8084 FN 01/36 FIXED VAR                    | CUSIP: 3138EQ6W7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     721039 | PA      | $712223.12     | 0.06%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A92666 FG 06/40 FIXED 5.5            | CUSIP: 3129406B0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21678 | PA      | $22565.09      | 0.00%             | 2040-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04692 FG 02/35 FIXED 5.5            | CUSIP: 3128M6RM2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1204039 | PA      | $1239315.35    | 0.10%             | 2035-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A57475 FG 02/37 FIXED 5.5            | CUSIP: 3128KLJU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1415 | PA      | $1473.57       | 0.00%             | 2037-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FS2678 FN 01/52 FIXED VAR                    | CUSIP: 3140XH6Q5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    7036443 | PA      | $6002436.47    | 0.51%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5653 G2 12/48 FIXED 5                   | CUSIP: 36179UH62<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     181702 | PA      | $184448.65     | 0.02%             | 2048-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 765983 FN 02/34 FIXED 5.5                    | CUSIP: 31404D6U7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51721 | PA      | $52478.00      | 0.00%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 906472 FN 01/37 FIXED 6                      | CUSIP: 31411FCH5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12968 | PA      | $13583.06      | 0.00%             | 2037-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003013 G2 12/30 FIXED 8.5                 | CUSIP: 36202DK26<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        252 | PA      | $264.92        | 0.00%             | 2030-12-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 764209 FN 04/34 FIXED 5.5                    | CUSIP: 31404CAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3639 | PA      | $3751.69       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 605631 GN 08/34 FIXED 6.5                    | CUSIP: 36200NY47<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        810 | PA      | $854.99        | 0.00%             | 2034-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA3036 G2 08/45 FIXED 4.5                 | CUSIP: 36179RLR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     976166 | PA      | $972912.17     | 0.08%             | 2045-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC STRUCTURED PASS THRU SEC T-59                               | FHLMC STRUCTURED PASS THROUGH FSPC T 59 1A1            | CUSIP: 31394PPQ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     108748 | PA      | $112275.02     | 0.01%             | 2043-10-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04633 FG 01/37 FIXED 5              | CUSIP: 3128M6PS1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3253 | PA      | $3344.32       | 0.00%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANC OF AMERICA FUNDING CORP 2005-E                               | BANC OF AMERICA FUNDING CORPOR BAFC 2005 E 1A1         | CUSIP: 05946XXH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     177692 | PA      | $169481.75     | 0.01%             | 2035-05-20      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 809617 FN 02/35 FIXED 5.5                    | CUSIP: 31406GPA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        210 | PA      | $217.02        | 0.00%             | 2035-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 802005 FN 11/34 FIXED 5.5                    | CUSIP: 31405XAE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13806 | PA      | $14187.81      | 0.00%             | 2034-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2061                                                  | FREDDIE MAC FHR 2061 Z                                 | CUSIP: 3133TEJX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10374 | PA      | $10559.88      | 0.00%             | 2028-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA1360 FN 03/48 FIXED 3.5                    | CUSIP: 3140Q8QN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    8155016 | PA      | $7598482.70    | 0.64%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 991086 FN 11/38 FIXED 6.5                    | CUSIP: 31415V6X8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      35041 | PA      | $36866.94      | 0.00%             | 2038-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 986767 FN 07/38 FIXED 5.5                    | CUSIP: 31415RFG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      37422 | PA      | $38917.62      | 0.00%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 724058 GN 11/39 FIXED 5.5                    | CUSIP: 3620AAMF2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15823 | PA      | $16359.08      | 0.00%             | 2039-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 782156 G2 05/37 FIXED 5                   | CUSIP: 36241KMD7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17212 | PA      | $17673.46      | 0.00%             | 2037-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 700916 GN 11/38 FIXED 6                      | CUSIP: 36296TVH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10130 | PA      | $10526.92      | 0.00%             | 2038-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03122 FG 07/37 FIXED 5.5            | CUSIP: 3128M4YT4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7289 | PA      | $7633.70       | 0.00%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03865 FG 12/37 FIXED 5.5            | CUSIP: 3128M5TW0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8410 | PA      | $8805.40       | 0.00%             | 2037-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2820                                                  | FREDDIE MAC FHR 2820 FY                                | CUSIP: 31395CEC1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        385 | PA      | $383.97        | 0.00%             | 2034-07-15      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 741862 FN 09/33 FIXED 5.5                    | CUSIP: 31402YFB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2189 | PA      | $2248.10       | 0.00%             | 2033-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 531306 GN 08/30 FIXED 8.5                    | CUSIP: 36212EGP6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9657 | PA      | $9953.33       | 0.00%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NOVASTAR HOME EQUITY LOAN 2007-1                                  | NOVASTAR HOME EQUITY LOAN NHEL 2007 1 A1A              | CUSIP: 669971AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1312303 | PA      | $864098.74     | 0.07%             | 2037-03-25      | Floating      | 4.11%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BH9315 FN 09/47 FIXED 3.5                    | CUSIP: 3140GYK57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     721636 | PA      | $684412.65     | 0.06%             | 2047-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY4800 FN 06/53 FIXED 5                      | CUSIP: 3140NMKN6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     880829 | PA      | $887785.80     | 0.07%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080578 G2 02/32 FLOATING VAR              | CUSIP: 36225CUC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28371 | PA      | $28790.27      | 0.00%             | 2032-02-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BJ4616 FN 02/48 FIXED 4                      | CUSIP: 3140H6DW6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1330887 | PA      | $1286792.75    | 0.11%             | 2048-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AN5733 GN 06/45 FIXED 3                      | CUSIP: 36186NLN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      82653 | PA      | $74771.60      | 0.01%             | 2045-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 732933 GN 01/40 FIXED 5                      | CUSIP: 3620ALHJ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      30830 | PA      | $31543.82      | 0.00%             | 2040-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 531039 GN 08/32 FIXED 6.5                    | CUSIP: 36212D4Y2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      19444 | PA      | $19899.71      | 0.00%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 543845 FN 07/30 FIXED 8                      | CUSIP: 31385GES9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        826 | PA      | $856.51        | 0.00%             | 2030-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 752414 GN 11/40 FIXED 4.5                    | CUSIP: 36230LVF3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25344 | PA      | $25124.03      | 0.00%             | 2040-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080074 G2 05/27 FLOATING VAR              | CUSIP: 36225CCL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        239 | PA      | $239.50        | 0.00%             | 2027-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 471809 GN 03/28 FIXED 6.5                    | CUSIP: 36209HDN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        817 | PA      | $840.39        | 0.00%             | 2028-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 513655 GN 08/29 FIXED 6.5                    | CUSIP: 36211HTL5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3294 | PA      | $3369.49       | 0.00%             | 2029-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS0379 FN 09/43 FIXED 4                      | CUSIP: 3138W9M56<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     131663 | PA      | $128442.82     | 0.01%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 733344 GN 04/40 FIXED 5.5                    | CUSIP: 3620ALWD2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        830 | PA      | $834.11        | 0.00%             | 2040-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04359 FG 06/38 FIXED 5.5            | CUSIP: 3128M6E87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     205029 | PA      | $213977.31     | 0.02%             | 2038-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003876 G2 07/36 FIXED 5                   | CUSIP: 36202EJV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16971 | PA      | $17396.24      | 0.00%             | 2036-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2005-61                             | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2005 61 2A1       | CUSIP: 12668AVP7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     126902 | PA      | $120961.02     | 0.01%             | 2035-12-25      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 555254 FN 01/33 FIXED VAR                    | CUSIP: 31385WZT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        544 | PA      | $570.04        | 0.00%             | 2033-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080106 G2 08/27 FLOATING VAR              | CUSIP: 36225CDL7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1228 | PA      | $1231.14       | 0.00%             | 2027-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 701529 GN 02/38 FIXED 6.5                    | CUSIP: 36296ULJ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1327 | PA      | $1349.52       | 0.00%             | 2038-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A50941 FG 07/36 FIXED 6.5            | CUSIP: 3128KDBJ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1741 | PA      | $1833.80       | 0.00%             | 2036-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02308 FG 09/36 FIXED 5.5            | CUSIP: 3128LXR51<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2007 | PA      | $2101.84       | 0.00%             | 2036-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02188 FG 06/36 FIXED 5              | CUSIP: 3128LXND8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12348 | PA      | $12705.44      | 0.00%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL7079 FN 07/35 FIXED VAR                    | CUSIP: 3138EP2M5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     298225 | PA      | $294473.25     | 0.02%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q56894 FG 06/48 FIXED 4              | CUSIP: 3132Y0UU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     463102 | PA      | $448240.57     | 0.04%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 944606 FN 07/37 FIXED 5.5                    | CUSIP: 31413F3P5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2021 | PA      | $2096.88       | 0.00%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY MTGE LN TR 2007-10XS                               | MORGAN STANLEY MORTGAGE LOAN T MSM 2007 10XS A1        | CUSIP: 61751MAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     612032 | PA      | $344480.01     | 0.03%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 4839                                                  | FREDDIE MAC FHR 4839 WO                                | CUSIP: 3137FJK81<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   21803586 | PA      | $14135131.76   | 1.19%             | 2056-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008865 G2 05/26 FLOATING VAR              | CUSIP: 36202KZ65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3716 | PA      | $3714.63       | 0.00%             | 2026-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2020-H15                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2020 H15 FH         | CUSIP: 38380QJA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6310650 | PA      | $6401619.06    | 0.54%             | 2070-07-20      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323702 FN 05/29 FIXED VAR                    | CUSIP: 31374TRX9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        772 | PA      | $792.34        | 0.00%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A93853 FG 09/40 FIXED 5              | CUSIP: 312942H65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4501 | PA      | $4636.04       | 0.00%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782382 GN 08/38 FIXED 5.5                    | CUSIP: 36241KUF3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      26207 | PA      | $27214.41      | 0.00%             | 2038-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080397 G2 04/30 FLOATING VAR              | CUSIP: 36225CNP7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10038 | PA      | $10084.21      | 0.00%             | 2030-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 692396 GN 02/39 FIXED 6.5                    | CUSIP: 36296JGD1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      44528 | PA      | $46747.05      | 0.00%             | 2039-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 1G1796 FH 12/35 FLOATING VAR         | CUSIP: 3128QJ7H3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     160426 | PA      | $166593.91     | 0.01%             | 2035-12-01      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 672391 GN 12/37 FIXED 6                      | CUSIP: 36295J7C4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1385 | PA      | $1463.17       | 0.00%             | 2037-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2395                                                  | FREDDIE MAC FHR 2395 FT                                | CUSIP: 31339LMA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4362 | PA      | $4356.65       | 0.00%             | 2031-12-15      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 440805 FN 09/28 FIXED 6                      | CUSIP: 31380HU62<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         74 | PA      | $75.66         | 0.00%             | 2028-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735653 FN 10/44 FLOATING VAR                 | CUSIP: 31402RH69<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      49877 | PA      | $49945.25      | 0.00%             | 2044-10-01      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                                | US TREASURY N/B 08/45 4.875                            | CUSIP: 912810UN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     743000 | PA      | $750430.00     | 0.06%             | 2045-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 868993 FN 05/36 FLOATING VAR                 | CUSIP: 31409ENJ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6983 | PA      | $7202.85       | 0.00%             | 2036-05-01      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03458 FG 11/37 FIXED 5.5            | CUSIP: 3128M5E71<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        987 | PA      | $1033.06       | 0.00%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 584411 GN 05/32 FIXED 6.5                    | CUSIP: 36201JGU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        213 | PA      | $215.60        | 0.00%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AM0240 GN 04/45 FIXED 3.5                    | CUSIP: 36184KHR1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     115850 | PA      | $108173.95     | 0.01%             | 2045-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM4583 FN 09/42 FIXED VAR                    | CUSIP: 3140J9CV1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     224924 | PA      | $215134.97     | 0.02%             | 2042-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 773752 FN 04/34 FIXED 5.5                    | CUSIP: 31404NTH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7457 | PA      | $7565.06       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/4.18000 11/08/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $1417129.26    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735903 FN 06/35 FIXED VAR                    | CUSIP: 31402RRY7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6943 | PA      | $7127.44       | 0.00%             | 2035-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 688031 GN 10/38 FIXED 6.5                    | CUSIP: 36296DLL0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6654 | PA      | $7007.00       | 0.00%             | 2038-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080356 G2 12/29 FLOATING VAR              | CUSIP: 36225CME3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         72 | PA      | $72.65         | 0.00%             | 2029-12-20      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| PRIME MORTGAGE TRUST 2004-CL1                                     | PRIME MORTGAGE TRUST PRIME 2004 CL1 1A2                | CUSIP: 74160MDL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       4347 | PA      | $4138.47       | 0.00%             | 2034-02-25      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 751193 FN 02/34 FIXED 5.5                    | CUSIP: 31403KRN5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5629 | PA      | $5830.44       | 0.00%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 257531 FN 11/28 FIXED 6.5                    | CUSIP: 31371PA83<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3425 | PA      | $3555.30       | 0.00%             | 2028-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 887583 FN 07/36 FIXED 6                      | CUSIP: 31410FCU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3722 | PA      | $3906.20       | 0.00%             | 2036-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A37326 FG 09/35 FIXED 5              | CUSIP: 31297TD75<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11661 | PA      | $11971.89      | 0.00%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05922 FG 07/39 FIXED 5.5            | CUSIP: 3128M74F0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24134 | PA      | $25186.40      | 0.00%             | 2039-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A82423 FG 10/38 FIXED 5              | CUSIP: 312928VQ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12972 | PA      | $13141.62      | 0.00%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 657573 FN 10/32 FIXED 6                      | CUSIP: 31390VQ23<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2752 | PA      | $2858.43       | 0.00%             | 2032-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 898810 FN 11/36 FIXED 6                      | CUSIP: 31410VR77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5350 | PA      | $5592.90       | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CERTIFICATES KJ45 | FHLMC MULTIFAMILY STRUCTURED P FHMS KJ45 A2            | CUSIP: 3137HA4L7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6100000 | PA      | $6230744.96    | 0.52%             | 2031-01-25      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A75114 FG 03/38 FIXED 5.5            | CUSIP: 3128L8VF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21687 | PA      | $22256.84      | 0.00%             | 2038-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4989                                           | FREDDIE MAC FHR 4989 FA                                | CUSIP: 3137FUKP8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2086796 | PA      | $2053254.13    | 0.17%             | 2040-08-15      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782508 GN 12/38 FIXED 5.5                    | CUSIP: 36241KYD4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17670 | PA      | $18575.07      | 0.00%             | 2038-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A98016 FG 06/39 FIXED 4.5            | CUSIP: 3129463Z7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1308 | PA      | $1305.41       | 0.00%             | 2039-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 606116 FN 09/31 FLOATING VAR                 | CUSIP: 31388JK53<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2319 | PA      | $2349.15       | 0.00%             | 2031-09-01      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 806313 FN 11/34 FIXED 6                      | CUSIP: 31406CYJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4523 | PA      | $4699.75       | 0.00%             | 2034-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 750486 FN 12/33 FIXED 5.5                    | CUSIP: 31403JXP6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9380 | PA      | $9516.74       | 0.00%             | 2033-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 390256 FH 07/30 FLOATING VAR         | CUSIP: 31346VH93<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      37823 | PA      | $37081.69      | 0.00%             | 2030-07-01      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A34515 FG 04/35 FIXED 4.5            | CUSIP: 31297QAQ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1303 | PA      | $1316.09       | 0.00%             | 2035-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080053 G2 03/27 FLOATING VAR              | CUSIP: 36225CBX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        231 | PA      | $231.22        | 0.00%             | 2027-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 687923 GN 09/38 FIXED 6                      | CUSIP: 36296DG85<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4930 | PA      | $5100.73       | 0.00%             | 2038-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A93996 FG 09/40 FIXED 4.5            | CUSIP: 312942NM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      31700 | PA      | $31969.76      | 0.00%             | 2040-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 754785 FN 04/34 FIXED 5.5                    | CUSIP: 31403QRE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15480 | PA      | $15706.29      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A35287 FG 06/35 FIXED 5.5            | CUSIP: 31297Q2U2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24692 | PA      | $25626.70      | 0.00%             | 2035-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 786267 FN 07/34 FIXED 5.5                    | CUSIP: 31405DQU4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6521 | PA      | $6613.89       | 0.00%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 667332 GN 03/37 FIXED 6.5                    | CUSIP: 36295DLM9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1269 | PA      | $1331.32       | 0.00%             | 2037-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 677323 GN 09/38 FIXED 6.5                    | CUSIP: 36295QPG9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        142 | PA      | $145.24        | 0.00%             | 2038-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 716818 GN 04/39 FIXED 4.5                    | CUSIP: 3620A2K70<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5070 | PA      | $5069.82       | 0.00%             | 2039-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782055 GN 02/36 FIXED 5.5                    | CUSIP: 36241KH84<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      72978 | PA      | $75989.89      | 0.01%             | 2036-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE ALT-A SECURITIES, INC. 2006-AB4                          | DEUTSCHE ALT A SECURITIES INC DBALT 2006 AB4 A1B1      | CUSIP: 251513AR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       5196 | PA      | $4353.99       | 0.00%             | 2036-10-25      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| FHLMC STRUCTURED P/T SECURITIES E3                                | FHLMC STRUCTURED PASS THROUGH FSPC E3 A                | CUSIP: 3133TCE95<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4518 | PA      | $4440.86       | 0.00%             | 2032-08-15      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 472978 GN 06/29 FIXED 6.5                    | CUSIP: 36209JM32<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        667 | PA      | $692.25        | 0.00%             | 2029-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BF0262 FN 05/58 FIXED 3                      | CUSIP: 3140FXJG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4060933 | PA      | $3559628.29    | 0.30%             | 2058-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 686876 GN 05/38 FIXED 6                      | CUSIP: 36296CCM0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      19950 | PA      | $20608.01      | 0.00%             | 2038-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY2125 FN 06/53 FIXED 5                      | CUSIP: 3140NJLF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     161621 | PA      | $163670.60     | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA0204 G2 07/27 FIXED 2.5                 | CUSIP: 36179MGM6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      74438 | PA      | $73623.39      | 0.01%             | 2027-07-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01818 FG 05/35 FIXED 5              | CUSIP: 3128LXAT7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     681591 | PA      | $700344.67     | 0.06%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 781629 FN 12/34 FIXED 5.5                    | CUSIP: 31404XLJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20528 | PA      | $21456.11      | 0.00%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02498 FG 12/36 FIXED 6.5            | CUSIP: 3128M4DB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20677 | PA      | $22024.04      | 0.00%             | 2036-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 357844 FN 07/35 FIXED 6                      | CUSIP: 31376KP59<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      30839 | PA      | $32366.79      | 0.00%             | 2035-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 964789 FN 08/38 FIXED 6                      | CUSIP: 31414FKA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        367 | PA      | $384.15        | 0.00%             | 2038-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2002-77                                         | FANNIE MAE FNR 2002 77 WF                              | CUSIP: 31392F6W2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7455 | PA      | $7435.83       | 0.00%             | 2032-12-18      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008847 G2 04/26 FLOATING VAR              | CUSIP: 36202KZL2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         38 | PA      | $38.35         | 0.00%             | 2026-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| SYMPHONY CLO 36 LTD 2025-52A                                      | SYMPHONY CLO LTD SYMP 2025 52A A 144A                  | CUSIP: 87272HAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      11405 | PA      | $11410.21      | 0.00%             | 2031-01-16      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BG2455 G2 05/48 FIXED 4                   | CUSIP: 3617GLWQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     173995 | PA      | $165400.42     | 0.01%             | 2048-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 769663 FN 04/34 FIXED 5.5                    | CUSIP: 31404JB87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5322 | PA      | $5397.47       | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 15 YR 5 SINGLE FAMILY MORTGAGE                | CUSIP: 01F050411<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     400000 | PA      | $405153.74     | 0.03%             | 2040-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01644 FG 02/34 FIXED 5.5            | CUSIP: 31283HZH1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4019 | PA      | $4131.86       | 0.00%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01737 FG 12/34 FIXED 5              | CUSIP: 31283H4W2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1886 | PA      | $1919.45       | 0.00%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 834960 FN 07/35 FIXED 6                      | CUSIP: 31407MTR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2515 | PA      | $2615.43       | 0.00%             | 2035-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 776554 FN 04/34 FIXED 5.5                    | CUSIP: 31404RWP8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12723 | PA      | $12908.23      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 1B0806 FH 03/33 FLOATING VAR         | CUSIP: 31336SNX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7584 | PA      | $7751.41       | 0.00%             | 2033-03-01      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02424 FG 12/36 FIXED 5.5            | CUSIP: 3128M4AZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      94096 | PA      | $98543.79      | 0.01%             | 2036-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2020-H17                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2020 H17 HF         | CUSIP: 38380QMV1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6597566 | PA      | $6730842.24    | 0.57%             | 2070-10-20      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AJ2293 FN 09/41 FIXED 4                      | CUSIP: 3138ATRP7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      66692 | PA      | $65284.22      | 0.01%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782560 GN 02/39 FIXED 5.5                    | CUSIP: 36241KZZ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      43749 | PA      | $45836.57      | 0.00%             | 2039-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 677215 GN 08/38 FIXED 6.5                    | CUSIP: 36295QK41<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9055 | PA      | $9586.42       | 0.00%             | 2038-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 555285 FN 03/33 FIXED VAR                    | CUSIP: 31385W2S7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38857 | PA      | $40346.09      | 0.00%             | 2033-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 871232 FN 04/36 FIXED 6                      | CUSIP: 31409G4R4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15443 | PA      | $16010.76      | 0.00%             | 2036-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 764322 GN 11/41 FIXED 3.5                    | CUSIP: 36176E4F5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2609 | PA      | $2448.97       | 0.00%             | 2041-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ACE SECURITIES CORP 2006-HE4                                      | ACE SECURITIES CORP. ACE 2006 HE4 A2A                  | CUSIP: 00442BAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     118327 | PA      | $46389.22      | 0.00%             | 2036-10-25      | Floating      | 3.97%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 604712 GN 10/33 FIXED 5                      | CUSIP: 36200MYH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        856 | PA      | $869.00        | 0.00%             | 2033-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS8096 FN 04/33 FIXED 4.7                    | CUSIP: 3140LJ7J9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2215000 | PA      | $2243383.32    | 0.19%             | 2033-04-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 768155 FN 03/34 FIXED 5.5                    | CUSIP: 31404GMC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11474 | PA      | $11642.27      | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783571 GN 12/33 FIXED 5                      | CUSIP: 36241L6G6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8967 | PA      | $9167.39       | 0.00%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 784041 GN 08/45 FIXED 4                      | CUSIP: 3622A2P22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2530621 | PA      | $2434127.98    | 0.21%             | 2045-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BAYVIEW FINANCIAL ACQUISITION TR 2007-A                           | BAYVIEW FINANCIAL ACQUISITION BAYV 2007 A 2A           | CUSIP: 07325VAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     550376 | PA      | $527760.72     | 0.04%             | 2037-05-28      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 937896 FN 07/37 FIXED 6                      | CUSIP: 31412XNM2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16911 | PA      | $17894.81      | 0.00%             | 2037-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 831604 FN 06/36 FIXED 6                      | CUSIP: 31407H3M6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        421 | PA      | $437.38        | 0.00%             | 2036-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 937612 FN 06/37 FIXED 6                      | CUSIP: 31412XDR2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     237703 | PA      | $251537.92     | 0.02%             | 2037-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A86492 FG 05/39 FIXED 4.5            | CUSIP: 312933F90<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9671 | PA      | $9771.11       | 0.00%             | 2039-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM4434 FN 06/48 FIXED VAR                    | CUSIP: 3140J84U4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     739693 | PA      | $753037.40     | 0.06%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080446 G2 08/30 FLOATING VAR              | CUSIP: 36225CP83<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8399 | PA      | $8484.62       | 0.00%             | 2030-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 901607 FN 11/36 FIXED 6.5                    | CUSIP: 31410YU85<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5065 | PA      | $5257.12       | 0.00%             | 2036-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080059 G2 04/27 FLOATING VAR              | CUSIP: 36225CB54<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        321 | PA      | $320.92        | 0.00%             | 2027-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 796013 FN 09/34 FIXED 5.5                    | CUSIP: 31405QK23<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        713 | PA      | $742.37        | 0.00%             | 2034-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RESIDENTIAL ASSET SEC CORP 2003-KS4                               | RESIDENTIAL ASSET SECURITIES C RASC 2003 KS4 AIIB      | CUSIP: 76110WRT5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      32681 | PA      | $31597.20      | 0.00%             | 2033-06-25      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA2833 FN 12/38 FIXED 4.5                    | CUSIP: 3140QAEF3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     654750 | PA      | $660668.16     | 0.06%             | 2038-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775298 FN 05/34 FIXED 5.5                    | CUSIP: 31404QKK4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      37012 | PA      | $37588.40      | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 598709 GN 07/33 FIXED 5                      | CUSIP: 36200EDN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6018 | PA      | $6075.51       | 0.00%             | 2033-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 938012 FN 07/37 FIXED 6                      | CUSIP: 31412XR97<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      35885 | PA      | $37863.46      | 0.00%             | 2037-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003442 G2 09/33 FIXED 5                   | CUSIP: 36202DZF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5938 | PA      | $6096.27       | 0.00%             | 2033-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AJ9327 FN 01/42 FIXED 3.5                    | CUSIP: 3138E2LH6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     105293 | PA      | $101297.68     | 0.01%             | 2042-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 755724 FN 05/34 FIXED 5.5                    | CUSIP: 31403RSM1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     139528 | PA      | $143400.88     | 0.01%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 673003 GN 08/38 FIXED 5.5                    | CUSIP: 36295KU43<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2677 | PA      | $2793.31       | 0.00%             | 2038-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BH9316 FN 09/47 FIXED 3.5                    | CUSIP: 3140GYK65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4706889 | PA      | $4443860.99    | 0.37%             | 2047-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL4213 FN 09/43 FIXED VAR                    | CUSIP: 3138ELVF7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1848198 | PA      | $1805103.09    | 0.15%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q01304 FG 06/41 FIXED 5              | CUSIP: 3132GENV8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     105022 | PA      | $108182.83     | 0.01%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BH6393 G2 07/48 FIXED 4.5                 | CUSIP: 3617H4C66<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     362337 | PA      | $353675.57     | 0.03%             | 2048-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA3244 G2 11/45 FIXED 3.5                 | CUSIP: 36179RS91<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3601621 | PA      | $3357384.45    | 0.28%             | 2045-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A38107 FG 10/35 FIXED 4.5            | CUSIP: 31297UAG5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25590 | PA      | $25854.69      | 0.00%             | 2035-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 409335 FN 11/28 FIXED 6                      | CUSIP: 31378UV41<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         58 | PA      | $59.62         | 0.00%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM2333 FN 02/50 FIXED VAR                    | CUSIP: 3140X5SX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     246831 | PA      | $232226.33     | 0.02%             | 2050-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 896344 FN 10/36 FIXED 6                      | CUSIP: 31410SZH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14220 | PA      | $15003.36      | 0.00%             | 2036-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 806143 FN 12/34 FIXED 5.5                    | CUSIP: 31406CS82<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1378 | PA      | $1416.17       | 0.00%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 1998-59                                                | FANNIE MAE FNR 1998 59 Z                               | CUSIP: 31359UB53<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5350 | PA      | $5446.09       | 0.00%             | 2028-10-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ATLAS SENIOR LOAN FUND LTD 2018-12A                               | ATLAS SENIOR LOAN FUND LTD ATCLO 2018 12A A1 144A      | CUSIP: 04942UAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     199539 | PA      | $199646.22     | 0.02%             | 2031-10-24      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A43851 FG 03/36 FIXED 5              | CUSIP: 3128K4H40<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11126 | PA      | $11442.53      | 0.00%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323439 FN 12/28 FIXED VAR                    | CUSIP: 31374THQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        136 | PA      | $139.71        | 0.00%             | 2028-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91216 FG 09/28 FIXED 6              | CUSIP: 3128P7K51<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2682 | PA      | $2754.67       | 0.00%             | 2028-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 670665 GN 08/37 FIXED 6                      | CUSIP: 36295HCA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        782 | PA      | $822.62        | 0.00%             | 2037-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANC OF AMERICA FUNDING CORP 2006-8T2                             | BANC OF AMERICA FUNDING CORPOR BAFC 2006 8T2 A10       | CUSIP: 05951UAK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     350542 | PA      | $313268.75     | 0.03%             | 2036-10-25      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256449 FN 10/26 FIXED 6.5                    | CUSIP: 31371MZN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4446 | PA      | $4613.30       | 0.00%             | 2026-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080054 G2 03/27 FLOATING VAR              | CUSIP: 36225CBY1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3941 | PA      | $3945.41       | 0.00%             | 2027-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 923142 FN 04/36 FIXED 6                      | CUSIP: 31412ES72<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38843 | PA      | $39872.22      | 0.00%             | 2036-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 914458 FN 04/37 FIXED 6                      | CUSIP: 31411S5T9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8756 | PA      | $9265.66       | 0.00%             | 2037-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS8211 FN 05/28 FIXED 4.55                   | CUSIP: 3140LKDR1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     200000 | PA      | $203151.67     | 0.02%             | 2028-05-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G00509 FG 08/26 FIXED 8.5            | CUSIP: 31283GR66<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         12 | PA      | $11.97         | 0.00%             | 2026-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783353 GN 04/41 FIXED 5                      | CUSIP: 36241LWN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      80250 | PA      | $82557.23      | 0.01%             | 2041-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSMC 2021-INV1 TRUST                                              | CREDIT SUISSE MORTGAGE TRUST CSMC 2021 INV1 A3 144A    | CUSIP: 12661XAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     946740 | PA      | $794211.73     | 0.07%             | 2056-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| CS FIRST BOSTON MTGE SEC CORP 2003-AR15                           | CREDIT SUISSE FIRST BOSTON MOR CSFB 2003 AR15 2A1      | CUSIP: 22541QCT7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       3073 | PA      | $2978.10       | 0.00%             | 2033-06-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 668414 GN 04/37 FIXED 5.5                    | CUSIP: 36295ESB4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13753 | PA      | $14107.91      | 0.00%             | 2037-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775548 FN 05/34 FIXED 5.5                    | CUSIP: 31404QTD1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      32651 | PA      | $33129.82      | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2006-AR19                                       | WAMU MORTGAGE PASS THROUGH CER WAMU 2006 AR19 2A       | CUSIP: 933638AD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     454822 | PA      | $411080.51     | 0.03%             | 2047-01-25      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C31320 FG 10/29 FIXED 7              | CUSIP: 31293WPD6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        140 | PA      | $147.05        | 0.00%             | 2029-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A83772 FG 01/39 FIXED 5.5            | CUSIP: 312930FM7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1048 | PA      | $1085.95       | 0.00%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 931056 FN 05/35 FIXED 5.5                    | CUSIP: 31412PMD0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38720 | PA      | $39272.59      | 0.00%             | 2035-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM1631 FN 09/49 FIXED VAR                    | CUSIP: 3140X4Y59<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3690939 | PA      | $3274750.44    | 0.28%             | 2049-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2015-10                                         | FANNIE MAE FNR 2015 10 SA                              | CUSIP: 3136AMZT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     630143 | PA      | $35920.55      | 0.00%             | 2045-03-25      | Floating      | 1.77%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 2.5 JUMBOS                           | CUSIP: 21H022622<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   66900000 | PA      | $57703863.78   | 4.86%             | 2056-02-19      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781636 GN 07/33 FIXED 5.5                    | CUSIP: 36225BY93<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        866 | PA      | $899.15        | 0.00%             | 2033-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C73849 FG 12/32 FIXED 5              | CUSIP: 31288CH20<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        146 | PA      | $148.54        | 0.00%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 843026 FN 09/35 FLOATING VAR                 | CUSIP: 31407WSP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      34030 | PA      | $34770.03      | 0.00%             | 2035-09-01      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 906131 FN 01/37 FIXED 6                      | CUSIP: 31411EVY0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15187 | PA      | $15977.00      | 0.00%             | 2037-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782996 GN 06/40 FIXED 5                      | CUSIP: 36241LKH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2201 | PA      | $2263.40       | 0.00%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AB0259 FN 03/37 FIXED 6                      | CUSIP: 31416VJD7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2517 | PA      | $2655.25       | 0.00%             | 2037-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AW4752 FN 06/44 FIXED 5                      | CUSIP: 3138XUH62<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      45289 | PA      | $46245.13      | 0.00%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735362 FN 03/35 FLOATING VAR                 | CUSIP: 31402Q5X5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10920 | PA      | $11132.42      | 0.00%             | 2035-03-01      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 768089 GN 06/41 FIXED 4.5                    | CUSIP: 36176KC21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     202771 | PA      | $201283.27     | 0.02%             | 2041-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AU8053 FN 09/43 FIXED 4.5                    | CUSIP: 3138X75P4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      88777 | PA      | $89101.36      | 0.01%             | 2043-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2005-AR9                                        | WAMU MORTGAGE PASS THROUGH CER WAMU 2005 AR9 A1A       | CUSIP: 92922FU48<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      12272 | PA      | $12043.59      | 0.00%             | 2045-07-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 802482 FN 11/34 FIXED 5.5                    | CUSIP: 31405XRB1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22126 | PA      | $22449.07      | 0.00%             | 2034-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735883 FN 03/33 FIXED VAR                    | CUSIP: 31402RRC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9678 | PA      | $10061.67      | 0.00%             | 2033-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04057 FG 12/37 FIXED 5.5            | CUSIP: 3128M5ZW3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5534 | PA      | $5763.07       | 0.00%             | 2037-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 888215 FN 12/36 FIXED VAR                    | CUSIP: 31410FYL3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51805 | PA      | $54768.97      | 0.00%             | 2036-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A81278 FG 08/38 FIXED 5              | CUSIP: 312927M37<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2440 | PA      | $2481.84       | 0.00%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOVT NATL MORTGAGE ASSOC SERIES 2007-18                           | GOVERNMENT NATIONAL MORTGAGE A GNR 2007 18 CO          | CUSIP: 38375JD69<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      86856 | PA      | $83624.13      | 0.01%             | 2035-03-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080428 G2 07/30 FLOATING VAR              | CUSIP: 36225CPN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      68111 | PA      | $68344.71      | 0.01%             | 2030-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AI4896 FN 06/26 FIXED 4                      | CUSIP: 3138AJNN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        495 | PA      | $494.02        | 0.00%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080604 G2 05/32 FLOATING VAR              | CUSIP: 36225CU61<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      71434 | PA      | $72620.49      | 0.01%             | 2032-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0382 FN 04/30 FIXED 4                      | CUSIP: 31417YM87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        518 | PA      | $517.79        | 0.00%             | 2030-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 850655 FN 02/36 FIXED 6.5                    | CUSIP: 31408GBY2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      55533 | PA      | $57651.85      | 0.00%             | 2036-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BK8736 FN 01/49 FIXED 4.5                    | CUSIP: 3140HNV66<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     634157 | PA      | $629220.36     | 0.05%             | 2049-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A14258 FG 09/33 FIXED 5.5            | CUSIP: 31296NWT0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4616 | PA      | $4686.85       | 0.00%             | 2033-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QG5356 FR 06/53 FIXED 5              | CUSIP: 3133C55R8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      88368 | PA      | $89020.91      | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 653158 GN 04/36 FIXED 5.5                    | CUSIP: 36292MTP7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1566 | PA      | $1623.72       | 0.00%             | 2036-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA0313 G2 08/42 FIXED 4                   | CUSIP: 36179MK25<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20629 | PA      | $19587.31      | 0.00%             | 2042-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080115 G2 09/27 FLOATING VAR              | CUSIP: 36225CDV5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1341 | PA      | $1348.17       | 0.00%             | 2027-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 942912 FN 08/37 FIXED 6                      | CUSIP: 31413EAM7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23400 | PA      | $24262.94      | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 4.5 JUMBOS                           | CUSIP: 21H042620<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   39925000 | PA      | $38866051.66   | 3.27%             | 2056-02-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BO9008 FN 02/50 FIXED 3                      | CUSIP: 3140K5AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3696733 | PA      | $3279847.59    | 0.28%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G07165 FG 12/41 FIXED 4.5            | CUSIP: 3128M9JJ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1206502 | PA      | $1219014.23    | 0.10%             | 2041-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 389782 GN 12/32 FIXED 5.5                    | CUSIP: 36205F6T5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1661 | PA      | $1694.04       | 0.00%             | 2032-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004979 G2 03/41 FIXED 5                   | CUSIP: 36202FQ82<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     388084 | PA      | $398810.18     | 0.03%             | 2041-03-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 954666 FN 09/37 FIXED 6                      | CUSIP: 31413TCB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      19832 | PA      | $20576.28      | 0.00%             | 2037-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 655605 GN 09/36 FIXED 6.5                    | CUSIP: 36294PKS1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1586 | PA      | $1667.93       | 0.00%             | 2036-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 819570 FN 04/35 FIXED 6                      | CUSIP: 31406TQX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      67270 | PA      | $69038.46      | 0.01%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03614 FG 05/37 FIXED 5.5            | CUSIP: 3128M5K33<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      45238 | PA      | $47350.07      | 0.00%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AA7402 FN 06/39 FIXED 4.5                    | CUSIP: 31416RGL1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     218074 | PA      | $220078.99     | 0.02%             | 2039-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 559806 FN 10/30 FLOATING VAR                 | CUSIP: 31386C3P5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9504 | PA      | $9572.64       | 0.00%             | 2030-10-01      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FS1548 FN 04/52 FIXED VAR                    | CUSIP: 3140XGWJ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     934262 | PA      | $800867.38     | 0.07%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 787216 FN 07/34 FIXED 5.5                    | CUSIP: 31405ESD8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18561 | PA      | $18832.68      | 0.00%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA4306 FN 04/51 FIXED 2.5                    | CUSIP: 31418DYC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6633778 | PA      | $5663868.26    | 0.48%             | 2051-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZK8509 FR 01/32 FIXED 2.5            | CUSIP: 3131XCN29<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     270764 | PA      | $262065.25     | 0.02%             | 2032-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 948697 FN 08/37 FIXED 6                      | CUSIP: 31413LNN5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6772 | PA      | $7079.62       | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 483629 GN 09/28 FIXED 6.5                    | CUSIP: 36209WHE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        377 | PA      | $380.66        | 0.00%             | 2028-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 784433 G2 02/48 FIXED 3.5                 | CUSIP: 3622A24S8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5112964 | PA      | $4723160.02    | 0.40%             | 2048-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 547428 FN 06/30 FLOATING VAR                 | CUSIP: 31385ND97<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6379 | PA      | $6502.12       | 0.00%             | 2030-06-01      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 928362 FN 06/27 FIXED 6.5                    | CUSIP: 31412LMK3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1686 | PA      | $1750.13       | 0.00%             | 2027-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 719769 GN 02/40 FIXED 6                      | CUSIP: 3620A5T25<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2273 | PA      | $2346.10       | 0.00%             | 2040-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783748 GN 04/43 FIXED 3.5                    | CUSIP: 3622A2EV0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     274697 | PA      | $256675.04     | 0.02%             | 2043-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02249 FG 07/36 FIXED 5.5            | CUSIP: 3128LXQA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9703 | PA      | $10131.27      | 0.00%             | 2036-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BF9539 G2 04/48 FIXED 3.5                 | CUSIP: 3617GGS48<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     653949 | PA      | $603925.74     | 0.05%             | 2048-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05181 FG 01/39 FIXED 5.5            | CUSIP: 3128M7CS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      52470 | PA      | $54887.80      | 0.00%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 678128 FN 01/33 FIXED 6                      | CUSIP: 31391VLH4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      97853 | PA      | $100442.68     | 0.01%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MTGE LOAN TRUST 2004-AR11                            | INDYMAC INDX MORTGAGE LOAN TRU INDX 2004 AR11 2A       | CUSIP: 45660N6S9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       2114 | PA      | $2001.55       | 0.00%             | 2034-12-25      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE-ACES 2020-M33                                          | FANNIEMAE ACES FNA 2020 M33 X2                         | CUSIP: 3136BBAR3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6588775 | PA      | $334147.77     | 0.03%             | 2031-01-25      | Variable      | 2.24%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4338                                           | FREDDIE MAC FHR 4338 SB                                | CUSIP: 3137BB7D6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     174997 | PA      | $10197.88      | 0.00%             | 2041-10-15      | Floating      | 1.92%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 680222 GN 01/38 FIXED 6                      | CUSIP: 36295TVP6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3065 | PA      | $3193.94       | 0.00%             | 2038-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5193 G2 05/48 FIXED 4.5                 | CUSIP: 36179TXW0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     504739 | PA      | $499926.13     | 0.04%             | 2048-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080657 G2 12/32 FLOATING VAR              | CUSIP: 36225CWT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     164522 | PA      | $168145.64     | 0.01%             | 2032-12-20      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALT LOAN TRUST 2006-OA16                              | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 OA16 A3      | CUSIP: 23242GAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     263880 | PA      | $210034.73     | 0.02%             | 2046-10-25      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004289 G2 11/38 FIXED 5                   | CUSIP: 36202EXS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     355198 | PA      | $365658.86     | 0.03%             | 2038-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIEMAE GRANTOR TRUST 2003-T4                                   | FANNIEMAE GRANTOR TRUST FNGT 2003 T4 1A                | CUSIP: 31393AU96<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        847 | PA      | $842.93        | 0.00%             | 2033-09-26      | Floating      | 2.79%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AB2667 GN 12/42 FIXED 3                      | CUSIP: 36178M6C0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11922 | PA      | $10938.83      | 0.00%             | 2042-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 602552 GN 03/36 FIXED 5                      | CUSIP: 36200JL99<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5606 | PA      | $5717.65       | 0.00%             | 2036-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA1248 FN 11/42 FIXED 3                      | CUSIP: 31418AL63<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     822702 | PA      | $748587.53     | 0.06%             | 2042-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A81280 FG 08/38 FIXED 5              | CUSIP: 312927M52<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5607 | PA      | $5604.57       | 0.00%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/2.99750 09/16/22-10Y LCH                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $416750.18     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002898 G2 03/30 FIXED 8.5                 | CUSIP: 36202DGF2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        360 | PA      | $376.71        | 0.00%             | 2030-03-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHASE FUNDING MTGE LN ASSET BK 2002-3                             | CHASE FUNDING MORTGAGE LOAN AS CFAB 2002 3 2A1         | CUSIP: 161546DB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     291115 | PA      | $289641.84     | 0.02%             | 2032-08-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782495 GN 12/38 FIXED 5.5                    | CUSIP: 36241KXY9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10165 | PA      | $10723.08      | 0.00%             | 2038-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 944021 FN 08/37 FIXED 6                      | CUSIP: 31413FG63<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4186 | PA      | $4384.68       | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 671023 GN 08/37 FIXED 6                      | CUSIP: 36295HPG9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3137 | PA      | $3302.97       | 0.00%             | 2037-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A89839 FG 11/39 FIXED 5              | CUSIP: 3129364Y0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      30081 | PA      | $30985.55      | 0.00%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CB0810 FN 06/51 FIXED 1.5                    | CUSIP: 3140QK3U0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     116980 | PA      | $90642.32      | 0.01%             | 2051-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.55000 12/22/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $-84616.73     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 753079 FN 01/34 FIXED 5.5                    | CUSIP: 31403MUC1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2072 | PA      | $2128.26       | 0.00%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RENAISSANCE HOME EQUITY LOAN TR 2004-3                            | RENAISSANCE HOME EQUITY LOAN T RAMC 2004 3 AV2A        | CUSIP: 759950DY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     108600 | PA      | $97469.83      | 0.01%             | 2034-11-25      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 450838 FN 12/28 FIXED 5.5                    | CUSIP: 31380UZB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1975 | PA      | $2032.67       | 0.00%             | 2028-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 566470 FN 02/31 FIXED 6                      | CUSIP: 31386LJP8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2772 | PA      | $2844.54       | 0.00%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A83000 FG 11/38 FIXED 5.5            | CUSIP: 312929KM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12822 | PA      | $13345.94      | 0.00%             | 2038-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BN6230 FN 04/49 FIXED 3.5                    | CUSIP: 3140JN4Q0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     245031 | PA      | $229327.19     | 0.02%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2001-HYB1                                  | COUNTRYWIDE HOME LOANS CWHL 2001 HYB1 3A2              | CUSIP: 12669B2Z4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       2018 | PA      | $2003.98       | 0.00%             | 2031-07-19      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 10                                         | SEQUOIA MORTGAGE TRUST SEMT 10 2A1                     | CUSIP: 81743VAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       2584 | PA      | $2568.31       | 0.00%             | 2027-10-20      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 786625 FH 09/28 FLOATING VAR         | CUSIP: 31295KLE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        743 | PA      | $746.30        | 0.00%             | 2028-09-01      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| SACO I TRUST 2005-10                                              | SACO I TRUST SACO 2005 10 1A                           | CUSIP: 785778ND9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      14972 | PA      | $14708.47      | 0.00%             | 2036-06-25      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2411                                                  | FREDDIE MAC FHR 2411 FJ                                | CUSIP: 31339D4L9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15442 | PA      | $15407.38      | 0.00%             | 2029-12-15      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| SLM STUDENT LOAN TRUST 2003-7A                                    | SLM STUDENT LOAN TRUST SLMA 2003 7A A5A 144A           | CUSIP: 78442GHH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     974144 | PA      | $964710.98     | 0.08%             | 2033-12-15      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| GSR MORTGAGE LOAN TRUST 2006-OA1                                  | GSR MORTGAGE LOAN TRUST GSR 2006 OA1 2A2               | CUSIP: 362631AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2055626 | PA      | $451972.93     | 0.04%             | 2046-08-25      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | SAIL 2004-10 M3 SP GST                                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              |  | US        |          1 | NC      | $7.15          | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 886403 FN 08/36 FIXED 6.5                    | CUSIP: 31410DX88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      85472 | PA      | $89854.99      | 0.01%             | 2036-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 257163 FN 04/28 FIXED 5                      | CUSIP: 31371NTU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      33855 | PA      | $34080.55      | 0.00%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 700804 GN 10/38 FIXED 5.5                    | CUSIP: 36296TRZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      86715 | PA      | $89504.26      | 0.01%             | 2038-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 722785 GN 10/39 FIXED 6                      | CUSIP: 3620A86W8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3531 | PA      | $3637.59       | 0.00%             | 2039-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZN1091 FR 11/33 FIXED 3.5            | CUSIP: 3131Y7F85<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     126541 | PA      | $125063.01     | 0.01%             | 2033-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 925139 FN 07/37 FIXED 6                      | CUSIP: 31412GZC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      93515 | PA      | $97760.82      | 0.01%             | 2037-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZS8641 FR 02/32 FIXED 2.5            | CUSIP: 3132A9S65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      52272 | PA      | $50578.24      | 0.00%             | 2032-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782988 GN 04/40 FIXED 5.5                    | CUSIP: 36241LJ98<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2926 | PA      | $3073.02       | 0.00%             | 2040-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 722831 GN 12/39 FIXED 6                      | CUSIP: 3620A9A84<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8041 | PA      | $8294.17       | 0.00%             | 2039-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALT LOAN TRUST 2006-OA16                              | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 OA16 A4C     | CUSIP: 23242GAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1173395 | PA      | $895638.52     | 0.08%             | 2046-10-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003829 G2 03/36 FIXED 5                   | CUSIP: 36202EHE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      35237 | PA      | $36142.62      | 0.00%             | 2036-03-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004113 G2 04/38 FIXED 5                   | CUSIP: 36202ESA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     148255 | PA      | $152210.48     | 0.01%             | 2038-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783292 GN 12/40 FIXED 6                      | CUSIP: 36241LUR5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22043 | PA      | $23271.15      | 0.00%             | 2040-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA4771 G2 10/47 FIXED 4.5                 | CUSIP: 36179TJQ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     102985 | PA      | $101125.08     | 0.01%             | 2047-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 503097 GN 04/29 FIXED 6.5                    | CUSIP: 36210U3E1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4601 | PA      | $4691.86       | 0.00%             | 2029-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080416 G2 06/30 FLOATING VAR              | CUSIP: 36225CPA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     102126 | PA      | $102095.67     | 0.01%             | 2030-06-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 808373 FN 12/34 FIXED 5.5                    | CUSIP: 31406FCJ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     224102 | PA      | $233017.73     | 0.02%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A60612 FG 05/37 FIXED 5.5            | CUSIP: 3128KQVD5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5476 | PA      | $5718.03       | 0.00%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS8229 FN 06/30 FIXED 4.5                    | CUSIP: 3140LKEB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     200000 | PA      | $203156.04     | 0.02%             | 2030-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2021-3                                          | FANNIE MAE FNR 2021 3 TI                               | CUSIP: 3136BDR42<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    7189839 | PA      | $1226837.48    | 0.10%             | 2051-02-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 678137 FN 01/33 FIXED 6                      | CUSIP: 31391VLS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      68637 | PA      | $70444.39      | 0.01%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 703036 GN 07/39 FIXED 4.5                    | CUSIP: 36296WBD7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     682652 | PA      | $693848.75     | 0.06%             | 2039-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01798 FG 12/32 FIXED 5.5            | CUSIP: 31283H7K5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1742 | PA      | $1806.14       | 0.00%             | 2032-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 1999-37                                                | FANNIE MAE FNR 1999 37 F                               | CUSIP: 31359V6Z1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11279 | PA      | $11264.78      | 0.00%             | 2029-06-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A59302 FG 04/37 FIXED 5.5            | CUSIP: 3128KNKP7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        169 | PA      | $176.03        | 0.00%             | 2037-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 708330 GN 02/39 FIXED 5.5                    | CUSIP: 36297C4P1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4517 | PA      | $4667.05       | 0.00%             | 2039-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 666750 FN 11/32 FIXED 6                      | CUSIP: 31391GWK8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        933 | PA      | $958.13        | 0.00%             | 2032-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 786064 FH 01/28 FLOATING VAR         | CUSIP: 31348SWZ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1612 | PA      | $1618.21       | 0.00%             | 2028-01-01      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 617153 GN 07/36 FIXED 6.5                    | CUSIP: 36290TTJ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        459 | PA      | $487.67        | 0.00%             | 2036-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 849803 FN 05/35 FIXED 6.5                    | CUSIP: 31408FDG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5159 | PA      | $5447.98       | 0.00%             | 2035-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 777820 FN 04/34 FIXED 5.5                    | CUSIP: 31404TDZ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      27651 | PA      | $28047.43      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 697489 GN 09/38 FIXED 6                      | CUSIP: 36296P2W0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1194 | PA      | $1247.94       | 0.00%             | 2038-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 871488 FN 04/36 FIXED 6.5                    | CUSIP: 31409HF58<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        137 | PA      | $144.78        | 0.00%             | 2036-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 704096 FN 05/33 FIXED 5.5                    | CUSIP: 31401CGD9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         30 | PA      | $31.17         | 0.00%             | 2033-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0232 FN 11/29 FIXED 4.5                    | CUSIP: 31417YHJ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5560 | PA      | $5585.50       | 0.00%             | 2029-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 678132 FN 01/33 FIXED 6                      | CUSIP: 31391VLM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        385 | PA      | $399.64        | 0.00%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA5018 G2 02/48 FIXED 3                   | CUSIP: 36179TSF3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2076790 | PA      | $1889446.22    | 0.16%             | 2048-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 6                                          | SEQUOIA MORTGAGE TRUST SEMT 6 A                        | CUSIP: 81743XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       1926 | PA      | $1910.37       | 0.00%             | 2027-04-19      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080292 G2 06/29 FLOATING VAR              | CUSIP: 36225CKE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        365 | PA      | $365.44        | 0.00%             | 2029-06-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 15 YR 2 SINGLE FAMILY MORTGAGE                | CUSIP: 01F020414<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   18600000 | PA      | $17225343.75   | 1.45%             | 2040-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05479 FG 03/39 FIXED 5.5            | CUSIP: 3128M7M45<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      89127 | PA      | $93207.47      | 0.01%             | 2039-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 689938 GN 10/38 FIXED 6                      | CUSIP: 36296FPX5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4692 | PA      | $4874.97       | 0.00%             | 2038-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782436 GN 10/38 FIXED 6                      | CUSIP: 36241KV54<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5988 | PA      | $6324.92       | 0.00%             | 2038-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 5                                          | SEQUOIA MORTGAGE TRUST SEMT 5 A                        | CUSIP: 81743WAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       2940 | PA      | $2917.42       | 0.00%             | 2026-10-19      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 642135 GN 09/36 FIXED 6                      | CUSIP: 36291YLQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3452 | PA      | $3563.58       | 0.00%             | 2036-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A93156 FG 07/40 FIXED 5              | CUSIP: 312941QH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      40237 | PA      | $40797.13      | 0.00%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BH8543 G2 07/48 FIXED 4.5                 | CUSIP: 3617H6P42<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     237215 | PA      | $231588.68     | 0.02%             | 2048-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 772350 FN 03/34 FIXED 5.5                    | CUSIP: 31404MBT4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      42613 | PA      | $43236.85      | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 685049 FN 03/34 FIXED 5.5                    | CUSIP: 31400EBS8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2118 | PA      | $2147.77       | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL2518 FN 11/39 FIXED VAR                    | CUSIP: 3138EJYQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     136714 | PA      | $139047.88     | 0.01%             | 2039-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BJ3432 FN 02/48 FIXED 3.5                    | CUSIP: 3140H4Y65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      72379 | PA      | $67549.58      | 0.01%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 779022 FN 06/34 FIXED 5.5                    | CUSIP: 31404UPF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9535 | PA      | $9673.33       | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASTR REPERFORMING LOAN TRUST 2005-1                              | MASTR REPERFORMING LOAN TRUST MARP 2005 1 1A3 144A     | CUSIP: 576436AT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      59271 | PA      | $40494.62      | 0.00%             | 2034-08-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BJ4362 FN 11/32 FIXED 2                      | CUSIP: 3140H5Z46<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      95884 | PA      | $90036.99      | 0.01%             | 2032-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 689754 GN 08/38 FIXED 6                      | CUSIP: 36296FH71<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14438 | PA      | $15045.62      | 0.00%             | 2038-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 690977 GN 05/38 FIXED 5.5                    | CUSIP: 36296GUA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        550 | PA      | $569.01        | 0.00%             | 2038-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 758788 FN 12/33 FIXED 5.5                    | CUSIP: 31403U6Z9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17575 | PA      | $17855.49      | 0.00%             | 2033-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 754324 FN 12/33 FIXED 5.5                    | CUSIP: 31403QAZ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8650 | PA      | $8773.61       | 0.00%             | 2033-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AX3410 G2 03/47 FIXED 3.5                 | CUSIP: 36196EYF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9079 | PA      | $8384.70       | 0.00%             | 2047-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 770075 FN 03/34 FIXED 5.5                    | CUSIP: 31404JQ40<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12320 | PA      | $12500.77      | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 757194 FN 12/33 FIXED 5.5                    | CUSIP: 31403TGB4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      33076 | PA      | $33548.15      | 0.00%             | 2033-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CS FIRST BOSTON MTG SEC CORP 2002-HE1                             | CREDIT SUISSE FIRST BOSTON MOR CSFB 2002 HE1 A2        | CUSIP: 22540VUG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      64515 | PA      | $62798.51      | 0.01%             | 2032-08-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 545010 FN 05/36 FLOATING VAR                 | CUSIP: 31385HN32<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        702 | PA      | $693.26        | 0.00%             | 2036-05-01      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 641859 FN 04/32 FIXED 6.5                    | CUSIP: 31390CB47<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1501 | PA      | $1557.90       | 0.00%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 677081 GN 07/38 FIXED 6.5                    | CUSIP: 36295QFW5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7897 | PA      | $8338.15       | 0.00%             | 2038-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AB7517 FN 01/33 FIXED 2.5                    | CUSIP: 31417EK75<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     409288 | PA      | $391791.39     | 0.03%             | 2033-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 968521 FN 12/37 FIXED 6.5                    | CUSIP: 31414KPE4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5011 | PA      | $5246.99       | 0.00%             | 2037-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RA4216 FR 12/50 FIXED 2.5            | CUSIP: 3133KKVH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4121323 | PA      | $3518663.47    | 0.30%             | 2050-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 914984 FN 04/37 FIXED 6                      | CUSIP: 31411URD5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5084 | PA      | $5364.76       | 0.00%             | 2037-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BA7937 GN 06/47 FIXED 4                      | CUSIP: 3617ALZA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      76987 | PA      | $73769.39      | 0.01%             | 2047-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MTGE LOAN TR INC 2007-AHL3                              | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2007 AHL3 A3A      | CUSIP: 17312GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     120828 | PA      | $85879.00      | 0.01%             | 2045-07-25      | Floating      | 3.91%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008815 G2 02/26 FLOATING VAR              | CUSIP: 36202KYL3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         23 | PA      | $22.48         | 0.00%             | 2026-02-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 652260 FN 01/30 FLOATING VAR                 | CUSIP: 31390PTR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22471 | PA      | $22852.70      | 0.00%             | 2030-01-01      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BA5831 G2 07/47 FIXED 3.5                 | CUSIP: 3617AJPQ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     446718 | PA      | $412385.98     | 0.03%             | 2047-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A46663 FG 08/35 FIXED 5              | CUSIP: 3128K7ML9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      49405 | PA      | $50763.27      | 0.00%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04624 FG 02/33 FIXED 6              | CUSIP: 3128M6PH5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9838 | PA      | $10223.66      | 0.00%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QB7854 FR 01/51 FIXED 2.5            | CUSIP: 3133AEWP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     560520 | PA      | $478648.52     | 0.04%             | 2051-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 784295 G2 03/47 FIXED 3.5                 | CUSIP: 3622A2XY3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5671949 | PA      | $5224680.50    | 0.44%             | 2047-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 899681 FN 08/37 FIXED 6.5                    | CUSIP: 31410WRA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23816 | PA      | $25110.78      | 0.00%             | 2037-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BELLA VISTA MORTGAGE TRUST 2005-2                                 | BELLA VISTA MORTGAGE TRUST BVMBS 2005 2 2A1            | CUSIP: 07820QCD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      89618 | PA      | $57359.48      | 0.00%             | 2045-05-20      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080201 G2 05/28 FLOATING VAR              | CUSIP: 36225CGK6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2644 | PA      | $2649.51       | 0.00%             | 2028-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A71408 FG 01/38 FIXED 5.5            | CUSIP: 3128L4R55<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      70007 | PA      | $73105.11      | 0.01%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 903263 FN 10/36 FIXED 6                      | CUSIP: 31411BQQ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10695 | PA      | $11089.47      | 0.00%             | 2036-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 766756 FN 03/34 FIXED 5.5                    | CUSIP: 31404EZV1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8702 | PA      | $8829.30       | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA5561 FN 04/50 FIXED 3.5                    | CUSIP: 3140QDFB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     749314 | PA      | $704022.30     | 0.06%             | 2050-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08269 FG 05/38 FIXED 5.5            | CUSIP: 3128MJJP6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4025 | PA      | $4202.00       | 0.00%             | 2038-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BC0567 G2 07/47 FIXED 3.5                 | CUSIP: 3617B3TY5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     304237 | PA      | $280852.15     | 0.02%             | 2047-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A56735 FG 01/37 FIXED 5.5            | CUSIP: 3128KKPU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        482 | PA      | $503.18        | 0.00%             | 2037-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 831952 FN 11/36 FIXED 6.5                    | CUSIP: 31407JH54<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9992 | PA      | $10504.83      | 0.00%             | 2036-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4940                                           | FREDDIE MAC FHR 4940 FE                                | CUSIP: 3137FQLW1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1263302 | PA      | $1244151.15    | 0.10%             | 2050-01-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS8097 FN 04/33 FIXED 4.7                    | CUSIP: 3140LJ7K6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1337467 | PA      | $1354612.26    | 0.11%             | 2033-04-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 521288 GN 04/35 FIXED 5                      | CUSIP: 36211SCZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     254958 | PA      | $259919.89     | 0.02%             | 2035-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08175 FG 01/37 FIXED 6.5            | CUSIP: 3128MJFR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9881 | PA      | $10501.06      | 0.00%             | 2037-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080392 G2 04/30 FLOATING VAR              | CUSIP: 36225CNJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4043 | PA      | $4046.11       | 0.00%             | 2030-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2004-AR1                                        | WAMU MORTGAGE PASS THROUGH CER WAMU 2004 AR1 A         | CUSIP: 92922FLD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       1658 | PA      | $1685.27       | 0.00%             | 2034-03-25      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 880893 FN 04/36 FIXED 6                      | CUSIP: 31409WUS8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1704 | PA      | $1760.88       | 0.00%             | 2036-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY MTGE LN TR 2007-7AX                                | MORGAN STANLEY MORTGAGE LOAN T MSM 2007 7AX 2A3        | CUSIP: 61754HAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     195150 | PA      | $52076.85      | 0.00%             | 2037-04-25      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05072 FG 01/39 FIXED 5.5            | CUSIP: 3128M66H6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15422 | PA      | $16114.00      | 0.00%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 665310 FN 10/32 FIXED 6                      | CUSIP: 31391FDP0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7385 | PA      | $7579.95       | 0.00%             | 2032-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 710683 GN 07/39 FIXED 4.5                    | CUSIP: 36297FRC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13518 | PA      | $13564.45      | 0.00%             | 2039-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2016-17                                         | FANNIE MAE FNR 2016 17 CS                              | CUSIP: 3136ARWA2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     242624 | PA      | $12010.69      | 0.00%             | 2046-04-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G30412 FG 03/28 FIXED 6              | CUSIP: 3128CUN51<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5354 | PA      | $5498.90       | 0.00%             | 2028-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 1966                                                  | FREDDIE MAC FHR 1966 Z                                 | CUSIP: 3133TABZ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        138 | PA      | $138.77        | 0.00%             | 2027-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 988578 FN 08/38 FIXED 5.5                    | CUSIP: 31415TFT2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51863 | PA      | $54077.92      | 0.00%             | 2038-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMIC-1998-62                                          | FANNIE MAE FNR 1998 62 ZD                              | CUSIP: 31359UL86<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      33732 | PA      | $33619.22      | 0.00%             | 2028-11-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTGE INVEST 2006-AR5                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2006 AR5 1A1       | CUSIP: 86360JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     349532 | PA      | $248183.88     | 0.02%             | 2036-05-25      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AC8518 FN 12/39 FIXED 5                      | CUSIP: 31417VPC1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1244 | PA      | $1279.62       | 0.00%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS5671 FN 08/45 FIXED 4                      | CUSIP: 3138WFJR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1545491 | PA      | $1496700.94    | 0.13%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 749219 FN 10/33 FIXED 5.5                    | CUSIP: 31403HK82<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1288 | PA      | $1306.04       | 0.00%             | 2033-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 460719 GN 01/28 FIXED 6.5                    | CUSIP: 36208TYQ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        266 | PA      | $269.78        | 0.00%             | 2028-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.50000 06/21/23-3Y CME                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $108317.41     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 535708 FN 02/31 FIXED VAR                    | CUSIP: 31384WDM9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         45 | PA      | $47.21         | 0.00%             | 2031-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM4862 FN 11/50 FIXED VAR                    | CUSIP: 3140X8ML8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1823743 | PA      | $1548745.72    | 0.13%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 665647 FN 10/32 FIXED 6.5                    | CUSIP: 31391FP85<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1234 | PA      | $1281.31       | 0.00%             | 2032-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05329 FG 03/39 FIXED 4.5            | CUSIP: 3128M7HE9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      71657 | PA      | $72399.90      | 0.01%             | 2039-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 928184 FN 04/37 FIXED 5.5                    | CUSIP: 31412LFZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9802 | PA      | $10166.21      | 0.00%             | 2037-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775474 FN 05/34 FIXED 5.5                    | CUSIP: 31404QQ36<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18189 | PA      | $18921.34      | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03368 FG 12/33 FIXED 6.5            | CUSIP: 3128M5CD0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1807 | PA      | $1892.75       | 0.00%             | 2033-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 953433 FN 11/37 FIXED 6.5                    | CUSIP: 31413RV29<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      43702 | PA      | $46410.71      | 0.00%             | 2037-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A69653 FG 12/37 FIXED 5.5            | CUSIP: 3128L1WN6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      45457 | PA      | $47454.88      | 0.00%             | 2037-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CB3046 FN 03/52 FIXED 2.5                    | CUSIP: 3140QNL42<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     638478 | PA      | $548328.41     | 0.05%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AV1885 FN 12/33 FIXED 4                      | CUSIP: 3138XDCX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     594563 | PA      | $587500.12     | 0.05%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 995930 FN 04/39 FIXED VAR                    | CUSIP: 31416CLK0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      42255 | PA      | $43475.57      | 0.00%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2457                                                  | FREDDIE MAC FHR 2457 PE                                | CUSIP: 31392PKZ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17196 | PA      | $18062.50      | 0.00%             | 2032-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 602285 FN 08/31 FIXED 6.5                    | CUSIP: 31388ECW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5747 | PA      | $5965.81       | 0.00%             | 2031-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AW8634 G2 04/47 FIXED 3.5                 | CUSIP: 36195XSX5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     240163 | PA      | $221791.95     | 0.02%             | 2047-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 15 YR 3.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F032419<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   97900000 | PA      | $95185176.22   | 8.02%             | 2040-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTG INV INC 2004-AR1                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2004 AR1 1A2       | CUSIP: 86359LAQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     119674 | PA      | $114778.46     | 0.01%             | 2034-03-19      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A34552 FG 04/35 FIXED 4.5            | CUSIP: 31297QBV0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2405 | PA      | $2427.16       | 0.00%             | 2035-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CIFC FUNDING LTD 2017-5A                                          | CIFC FUNDING LTD CIFC 2017 5A AR 144A                  | CUSIP: 12551MAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    5000000 | PA      | $5018131.90    | 0.42%             | 2037-07-17      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781885 GN 03/35 FIXED 5                      | CUSIP: 36241KCW6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        414 | PA      | $424.83        | 0.00%             | 2035-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 974965 FN 04/38 FIXED 5                      | CUSIP: 31414STW3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        854 | PA      | $878.55        | 0.00%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 812521 FN 02/35 FIXED 6                      | CUSIP: 31406KVN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11104 | PA      | $11486.71      | 0.00%             | 2035-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2008-2R                             | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2008 2R 2A1       | CUSIP: 021482AC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      80386 | PA      | $34676.16      | 0.00%             | 2037-08-25      | Variable      | 3.72%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 4.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F042624<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  439718000 | PA      | $428918108.19  | 36.13%            | 2056-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q21792 FG 09/43 FIXED 4.5            | CUSIP: 3132JN7D3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     139036 | PA      | $139596.39     | 0.01%             | 2043-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 786321 FH 11/27 FLOATING VAR         | CUSIP: 31295KAW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8823 | PA      | $8850.24       | 0.00%             | 2027-11-01      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 722105 GN 12/39 FIXED 5.5                    | CUSIP: 3620A8GN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8587 | PA      | $8961.31       | 0.00%             | 2039-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 487128 GN 04/29 FIXED 6.5                    | CUSIP: 36210BD93<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        609 | PA      | $620.10        | 0.00%             | 2029-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AV1030 FN 11/43 FIXED 5                      | CUSIP: 3138XCEC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      44796 | PA      | $45330.00      | 0.00%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BF3074 G2 07/48 FIXED 4                   | CUSIP: 3617G9MX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25726 | PA      | $24455.39      | 0.00%             | 2048-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS9610 FN 09/38 FIXED 5.3                    | CUSIP: 3140LLVC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     997809 | PA      | $1051867.71    | 0.09%             | 2038-09-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.17000 04/15/24-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $317793.46     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2452                                                  | FREDDIE MAC FHR 2452 FG                                | CUSIP: 31392K6W1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        205 | PA      | $205.29        | 0.00%             | 2032-03-15      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.00000 06/21/23-10Y CME                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $-242.13       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91164 FG 03/28 FIXED 5              | CUSIP: 3128P7JH7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23284 | PA      | $23485.82      | 0.00%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BA2617 G2 06/47 FIXED 3.5                 | CUSIP: 3617AE4A1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     451542 | PA      | $416836.60     | 0.04%             | 2047-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 698370 GN 07/39 FIXED 4.5                    | CUSIP: 36296Q2B4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      56266 | PA      | $56037.53      | 0.00%             | 2039-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A14359 FG 10/33 FIXED 5.5            | CUSIP: 31296NZY6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8810 | PA      | $8945.35       | 0.00%             | 2033-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002430 G2 05/27 FIXED 7                   | CUSIP: 36202CVX8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        241 | PA      | $247.38        | 0.00%             | 2027-05-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A14805 FG 10/33 FIXED 5              | CUSIP: 31296PKS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5501 | PA      | $5598.95       | 0.00%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2431                                                  | FREDDIE MAC FHR 2431 F                                 | CUSIP: 31339NQ74<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         32 | PA      | $31.60         | 0.00%             | 2032-03-15      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 704672 GN 08/39 FIXED 5.5                    | CUSIP: 36296X2D5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      30455 | PA      | $31367.18      | 0.00%             | 2039-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA7829 G2 01/52 FIXED 3.5                 | CUSIP: 36179WVW5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6301736 | PA      | $5802637.49    | 0.49%             | 2052-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2004-20                                    | COUNTRYWIDE HOME LOANS CWHL 2004 20 3A1                | CUSIP: 12669F2J1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     104581 | PA      | $100668.23     | 0.01%             | 2034-09-25      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A64391 FG 08/37 FIXED 6              | CUSIP: 3128KU2Y2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        454 | PA      | $481.37        | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 545980 FN 06/32 FLOATING VAR                 | CUSIP: 31385JQ92<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11859 | PA      | $12128.08      | 0.00%             | 2032-06-01      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4094                                           | FREDDIE MAC FHR 4094 BZ                                | CUSIP: 3137ASV50<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3184292 | PA      | $3079417.47    | 0.26%             | 2032-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008814 G2 02/26 FLOATING VAR              | CUSIP: 36202KYK5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         61 | PA      | $61.26         | 0.00%             | 2026-02-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A47293 FG 10/35 FIXED 5.5            | CUSIP: 3128K8C61<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17346 | PA      | $17969.64      | 0.00%             | 2035-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A78806 FG 07/38 FIXED 5.5            | CUSIP: 3128LCYB6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9509 | PA      | $9765.65       | 0.00%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | US 10YR ULTRA FUT MAR26 XCBT 20260320                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |      -5169 | NC      | $5212802.69    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 918546 FN 06/37 FIXED 6                      | CUSIP: 31411YP72<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10322 | PA      | $10791.09      | 0.00%             | 2037-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2189                                                  | FREDDIE MAC FHR 2189 F                                 | CUSIP: 3133TLXV5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15425 | PA      | $15492.89      | 0.00%             | 2027-07-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BD0824 FN 10/46 FIXED 3                      | CUSIP: 3140F74J5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     186577 | PA      | $169796.73     | 0.01%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTG INV INC 2006-AR7                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2006 AR7 A11       | CUSIP: 86361HAP9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1851848 | PA      | $1384185.27    | 0.12%             | 2036-08-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A78296 FG 06/38 FIXED 5              | CUSIP: 3128LCGD2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      40622 | PA      | $41185.62      | 0.00%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET SEC CORP 2005-AR1                                | STRUCTURED ASSET SECURITIES CO SASC 2005 AR1 M2        | CUSIP: 86359DVX2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     310911 | PA      | $300971.06     | 0.03%             | 2035-09-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 081404 G2 07/35 FLOATING VAR              | CUSIP: 36225DR22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     101599 | PA      | $102011.74     | 0.01%             | 2035-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 1.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F012619<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   14400000 | PA      | $11108192.69   | 0.94%             | 2056-01-14      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 787010 FH 12/29 FLOATING VAR         | CUSIP: 31295KYF5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        945 | PA      | $961.28        | 0.00%             | 2029-12-01      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RA5502 FR 06/51 FIXED 3              | CUSIP: 3133KMDF9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2375553 | PA      | $2105875.98    | 0.18%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 15 YR 4.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F042418<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1500000 | PA      | $1500761.72    | 0.13%             | 2040-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM7152 FN 02/28 VARIABLE                     | CUSIP: 3140JB5N2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5989880 | PA      | $6006817.54    | 0.51%             | 2028-02-01      | Variable      | 4.37%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04587 FG 08/38 FIXED 5.5            | CUSIP: 3128M6NC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16450 | PA      | $17173.32      | 0.00%             | 2038-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AA3699 GN 08/42 FIXED 3.5                    | CUSIP: 36178BDC6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     234093 | PA      | $218448.88     | 0.02%             | 2042-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 662443 GN 06/37 FIXED 6                      | CUSIP: 36294W5C8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1548 | PA      | $1611.49       | 0.00%             | 2037-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIEMAE WHOLE LOAN 2003-W13                                     | FANNIEMAE WHOLE LOAN FNW 2003 W13 AV2                  | CUSIP: 31393C7G2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |          8 | PA      | $7.93          | 0.00%             | 2033-10-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AU7367 FN 09/43 FIXED 5                      | CUSIP: 3138X7FH1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13123 | PA      | $13393.50      | 0.00%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.45250 03/08/23-10Y LCH                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $248962.65     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AE8073 FN 12/40 FIXED 4                      | CUSIP: 31419J6K9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     597509 | PA      | $585187.61     | 0.05%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 540157 GN 01/31 FIXED 7.5                    | CUSIP: 36212QB25<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5962 | PA      | $6111.10       | 0.00%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BB8154 G2 09/47 FIXED 3.5                 | CUSIP: 3617B0BX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     765982 | PA      | $707393.98     | 0.06%             | 2047-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AE6600 GN 06/43 FIXED 3.5                    | CUSIP: 36181AKM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38788 | PA      | $36149.95      | 0.00%             | 2043-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GREENPOINT MRGT PASS THRU CER 2003-1                              | GREENPOINT MORTGAGE PASS THROU GMSI 2003 1 A1          | CUSIP: 395387AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       3883 | PA      | $3814.61       | 0.00%             | 2033-10-25      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 685630 GN 04/38 FIXED 6                      | CUSIP: 36296AVX9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21292 | PA      | $21994.52      | 0.00%             | 2038-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C75023 FG 12/32 FIXED 5              | CUSIP: 31288DSL4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        169 | PA      | $169.28        | 0.00%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BA3813 G2 07/47 FIXED 3.5                 | CUSIP: 3617AGGW5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     420242 | PA      | $387944.64     | 0.03%             | 2047-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 659684 GN 10/36 FIXED 6.5                    | CUSIP: 36294T2R5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16582 | PA      | $17677.70      | 0.00%             | 2036-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 788132 FN 04/32 FIXED 6                      | CUSIP: 31405FSV5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        634 | PA      | $650.09        | 0.00%             | 2032-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A35938 FG 07/35 FIXED 5              | CUSIP: 31297RS32<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28215 | PA      | $28571.14      | 0.00%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 898809 FN 11/36 FIXED 6                      | CUSIP: 31410VR69<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2544 | PA      | $2684.61       | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA4643 FN 05/42 FIXED 3                      | CUSIP: 31418EER7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     892379 | PA      | $829894.46     | 0.07%             | 2042-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C00785 FG 06/29 FIXED 6.5            | CUSIP: 31292G2S4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1085 | PA      | $1127.14       | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 779067 GN 04/42 FIXED 3.5                    | CUSIP: 36176XJL4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      27840 | PA      | $25996.53      | 0.00%             | 2042-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 748612 FN 01/34 FIXED 5.5                    | CUSIP: 31403GVD1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10686 | PA      | $10842.55      | 0.00%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/4.11750 10/10/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $1008796.54    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 918178 FN 05/37 FIXED 6                      | CUSIP: 31411YCP6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        691 | PA      | $728.74        | 0.00%             | 2037-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782407 GN 09/38 FIXED 5.5                    | CUSIP: 36241KU89<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     205518 | PA      | $216005.43     | 0.02%             | 2038-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AY8034 G2 03/47 FIXED 3.5                 | CUSIP: 36196X4T9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     822753 | PA      | $759825.23     | 0.06%             | 2047-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080727 G2 08/33 FLOATING VAR              | CUSIP: 36225CYZ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      96661 | PA      | $98343.55      | 0.01%             | 2033-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2014-92                                         | FANNIE MAE FNR 2014 92 SB                              | CUSIP: 3136AMEE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     240426 | PA      | $13464.70      | 0.00%             | 2045-01-25      | Floating      | 1.74%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004015 G2 08/37 FIXED 5                   | CUSIP: 36202EN88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21166 | PA      | $21733.12      | 0.00%             | 2037-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A37999 FG 10/35 FIXED 4.5            | CUSIP: 31297T3G6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        234 | PA      | $234.44        | 0.00%             | 2035-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 844610 FN 12/35 FIXED 6                      | CUSIP: 31407YKX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5639 | PA      | $5894.37       | 0.00%             | 2035-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AR1005 FN 01/43 FIXED 4                      | CUSIP: 3138NXDK0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     114469 | PA      | $112060.69     | 0.01%             | 2043-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A75879 FG 04/38 FIXED 5              | CUSIP: 3128L9Q89<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17607 | PA      | $18120.59      | 0.00%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02360 FG 10/36 FIXED 5.5            | CUSIP: 3128LXTR1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2500 | PA      | $2602.37       | 0.00%             | 2036-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08456 FG 07/41 FIXED 5              | CUSIP: 3128MJQJ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8726 | PA      | $8885.53       | 0.00%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4182                                           | FREDDIE MAC FHR 4182 QI                                | CUSIP: 3137B0ZL1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     107027 | PA      | $4943.33       | 0.00%             | 2033-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A60884 FG 06/37 FIXED 5.5            | CUSIP: 3128KQ6V3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10989 | PA      | $11288.13      | 0.00%             | 2037-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 713697 FN 08/33 FIXED 5.5                    | CUSIP: 31401N3E7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6354 | PA      | $6445.03       | 0.00%             | 2033-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 877155 G2 05/30 FLOATING VAR              | CUSIP: 36208AMR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14146 | PA      | $14289.21      | 0.00%             | 2030-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004715 G2 06/40 FIXED 5                   | CUSIP: 36202FGY6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     765073 | PA      | $789498.28     | 0.07%             | 2040-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 529546 GN 08/30 FIXED 8.5                    | CUSIP: 36212CHX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3849 | PA      | $3895.50       | 0.00%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008909 G2 07/26 FLOATING VAR              | CUSIP: 36202K3S2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        256 | PA      | $256.02        | 0.00%             | 2026-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 620193 FN 01/32 FIXED 6                      | CUSIP: 31389A7E7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5968 | PA      | $6124.93       | 0.00%             | 2032-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL3670 FN 02/43 FIXED VAR                    | CUSIP: 3138ELCG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     839629 | PA      | $821352.57     | 0.07%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 944713 FN 07/37 FIXED 6                      | CUSIP: 31413GAN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16693 | PA      | $17336.60      | 0.00%             | 2037-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 656220 GN 08/36 FIXED 6.5                    | CUSIP: 36294QAV3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        189 | PA      | $198.20        | 0.00%             | 2036-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 968312 FN 02/38 FIXED 4.5                    | CUSIP: 31414KGV6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4676 | PA      | $4730.82       | 0.00%             | 2038-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO LTD 2015-9A                                     | MOUNTAIN VIEW CLO LTD MVW 2015 9A A1R 144A             | CUSIP: 62432BAN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     121291 | PA      | $121440.86     | 0.01%             | 2031-07-15      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM8662 FN 08/51 FIXED VAR                    | CUSIP: 3140XCTU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3278538 | PA      | $2903993.14    | 0.24%             | 2051-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 877000 FN 06/35 FLOATING VAR                 | CUSIP: 31409SKM1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51940 | PA      | $53583.17      | 0.00%             | 2035-06-01      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                                | US TREASURY N/B 08/55 4.75                             | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  131600000 | PA      | $129420375.00  | 10.90%            | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782416 GN 10/38 FIXED 5.5                    | CUSIP: 36241KVH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20497 | PA      | $21462.58      | 0.00%             | 2038-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ADJ RATE MTGE LOAN 2005-21                             | STRUCTURED ADJUSTABLE RATE MOR SARM 2005 21 3A1        | CUSIP: 863579B49<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     130349 | PA      | $119940.26     | 0.01%             | 2035-11-25      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA4632 FN 06/42 FIXED 3                      | CUSIP: 31418EEE6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     571743 | PA      | $531257.46     | 0.04%             | 2042-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2005-AR1                                        | WAMU MORTGAGE PASS THROUGH CER WAMU 2005 AR1 A1A       | CUSIP: 939336X40<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      70517 | PA      | $69156.21      | 0.01%             | 2045-01-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 795297 FN 07/44 FLOATING VAR                 | CUSIP: 31405PRS1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15698 | PA      | $15773.82      | 0.00%             | 2044-07-01      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91129 FG 12/27 FIXED 6              | CUSIP: 3128P7HE6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1691 | PA      | $1737.38       | 0.00%             | 2027-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04527 FG 07/38 FIXED 5.5            | CUSIP: 3128M6LG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     180571 | PA      | $188451.82     | 0.02%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782662 GN 05/39 FIXED 5.5                    | CUSIP: 36241K5X2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5169 | PA      | $5433.46       | 0.00%             | 2039-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BF0102 FN 06/56 FIXED 3.5                    | CUSIP: 3140FXDG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6325970 | PA      | $5857019.94    | 0.49%             | 2056-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BC0302 G2 08/47 FIXED 3.5                 | CUSIP: 3617B3KP3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     525604 | PA      | $485213.21     | 0.04%             | 2047-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.56000 05/08/23-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $23980.11      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 803876 FN 12/34 FIXED 5.5                    | CUSIP: 31406ACM2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6680 | PA      | $6929.47       | 0.00%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A61999 FG 06/37 FIXED 5.5            | CUSIP: 3128KSGG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2493 | PA      | $2589.14       | 0.00%             | 2037-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2013-23                  | GOVERNMENT NATIONAL MORTGAGE A GNR 2013 23 IP          | CUSIP: 38378MAC9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1863818 | PA      | $194258.15     | 0.02%             | 2042-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782144 GN 02/37 FIXED 6                      | CUSIP: 36241KLZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1522 | PA      | $1606.76       | 0.00%             | 2037-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91255 FG 06/29 FIXED 4              | CUSIP: 3128P7MC4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5124 | PA      | $5115.80       | 0.00%             | 2029-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 800929 FN 10/34 FIXED 5.5                    | CUSIP: 31405VY27<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7356 | PA      | $7460.94       | 0.00%             | 2034-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 846597 FN 12/35 FIXED 6.5                    | CUSIP: 31408BRS9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1368 | PA      | $1419.91       | 0.00%             | 2035-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PIMCO FUNDS                                                       | PIMCO PRV SHORT TERM FLT III MUTUAL FUND               | CUSIP: 000000000<br>LEI: LWVQWTQCFH3YG7CVH718 | Long             | STIV             | RF                | US        |    4875583 | PA      | $47493057.35   | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A75627 FG 04/38 FIXED 5              | CUSIP: 3128L9HC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3130 | PA      | $3221.39       | 0.00%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 765414 FN 08/34 FIXED 6.5                    | CUSIP: 31404DK31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        533 | PA      | $558.75        | 0.00%             | 2034-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2019-RPL3                     | NEW RESIDENTIAL MORTGAGE LOAN NRZT 2019 RPL3 A1 144A   | CUSIP: 64830NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3795246 | PA      | $3684065.31    | 0.31%             | 2059-07-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080263 G2 03/29 FLOATING VAR              | CUSIP: 36225CJH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        437 | PA      | $438.77        | 0.00%             | 2029-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 754803 FN 01/34 FIXED 5.5                    | CUSIP: 31403QRY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3355 | PA      | $3404.55       | 0.00%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 745636 GN 12/41 FIXED 4                      | CUSIP: 3620C1LR5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11635 | PA      | $11380.38      | 0.00%             | 2041-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080542 G2 09/31 FLOATING VAR              | CUSIP: 36225CS80<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      49985 | PA      | $50283.81      | 0.00%             | 2031-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 671182 GN 12/37 FIXED 6.5                    | CUSIP: 36295HUF5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        410 | PA      | $429.17        | 0.00%             | 2037-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781696 GN 04/33 FIXED 6.5                    | CUSIP: 36225B3D8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22765 | PA      | $23845.63      | 0.00%             | 2033-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 658219 GN 12/36 FIXED 6.5                    | CUSIP: 36294SG43<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1928 | PA      | $2068.59       | 0.00%             | 2036-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BE5523 FN 02/37 FIXED 4                      | CUSIP: 3140FRD51<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     722705 | PA      | $708722.62     | 0.06%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS0574 FN 09/43 FIXED 5                      | CUSIP: 3138W9T83<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      52297 | PA      | $53465.56      | 0.00%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 599357 GN 01/33 FIXED 5.5                    | CUSIP: 36200EZW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1936 | PA      | $2000.24       | 0.00%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0264 FN 12/29 FIXED 4.5                    | CUSIP: 31417YJJ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11400 | PA      | $11489.53      | 0.00%             | 2029-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 809953 FN 03/35 FIXED 6                      | CUSIP: 31406GZS1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25039 | PA      | $25961.22      | 0.00%             | 2035-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 799689 FN 11/34 FIXED 5.5                    | CUSIP: 31405UNE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        101 | PA      | $102.07        | 0.00%             | 2034-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHEVY CHASE MTGE FUNDING CORP 2004-1A                             | CHEVY CHASE MORTGAGE FUNDING C CCMFC 2004 1A B1 144A   | CUSIP: 16678RAV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     110734 | PA      | $104452.49     | 0.01%             | 2035-01-25      | Floating      | 4.19%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA4695 FN 07/42 FIXED 3                      | CUSIP: 31418EGD6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     137019 | PA      | $127338.20     | 0.01%             | 2042-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AB5640 GN 11/42 FIXED 3.5                    | CUSIP: 36178SHR2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9535 | PA      | $8882.06       | 0.00%             | 2042-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 663792 GN 01/37 FIXED 5                      | CUSIP: 36294YNH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      22213 | PA      | $22713.02      | 0.00%             | 2037-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2007-HY7                                   | COUNTRYWIDE HOME LOANS CWHL 2007 HY7 A1                | CUSIP: 12544HAY6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     256167 | PA      | $240939.84     | 0.02%             | 2037-11-25      | Variable      | 4.34%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080102 G2 08/27 FLOATING VAR              | CUSIP: 36225CDG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        753 | PA      | $755.16        | 0.00%             | 2027-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735754 FN 07/35 FLOATING VAR                 | CUSIP: 31402RMB2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8496 | PA      | $8666.00       | 0.00%             | 2035-07-01      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA2234 FN 08/38 FIXED 4                      | CUSIP: 3140Q9PU1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     551194 | PA      | $546922.17     | 0.05%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BB3485 G2 08/47 FIXED 3.5                 | CUSIP: 3617AT2S1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     563407 | PA      | $520106.08     | 0.04%             | 2047-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RB5249 FR 07/43 FIXED 4.5            | CUSIP: 3133KYZN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1331775 | PA      | $1337186.51    | 0.11%             | 2043-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 675063 GN 01/38 FIXED 6                      | CUSIP: 36295M5Y1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2662 | PA      | $2811.51       | 0.00%             | 2038-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BW3079 FN 06/42 FIXED 3                      | CUSIP: 3140MUM56<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      27037 | PA      | $25107.33      | 0.00%             | 2042-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 756230 FN 01/34 FIXED 5.5                    | CUSIP: 31403SEB8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6363 | PA      | $6541.01       | 0.00%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05267 FG 12/38 FIXED 5.5            | CUSIP: 3128M7FG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13320 | PA      | $13901.63      | 0.00%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782808 GN 11/39 FIXED 5.5                    | CUSIP: 36241LDM5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7760 | PA      | $8150.88       | 0.00%             | 2039-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS  STRUC PROD INC 2007-R6                              | BEAR STEARNS STRUCTURED PRODUC BSSP 2007 R6 2A1        | CUSIP: 07402FAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     470243 | PA      | $373908.62     | 0.03%             | 2046-12-26      | Floating      | 3.94%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 572165 FN 01/31 FIXED 6.5                    | CUSIP: 31386STW7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        347 | PA      | $360.02        | 0.00%             | 2031-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 255116 FN 02/34 FIXED 6.5                    | CUSIP: 31371LK57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        308 | PA      | $324.36        | 0.00%             | 2034-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 632578 FN 02/32 FIXED 6.5                    | CUSIP: 31389QXF0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1112 | PA      | $1154.61       | 0.00%             | 2032-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03204 FG 11/35 FIXED 5.5            | CUSIP: 3128M43M3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38611 | PA      | $40434.81      | 0.00%             | 2035-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BI1270 GN 08/48 FIXED 4                      | CUSIP: 3617HAMT1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     212301 | PA      | $207948.48     | 0.02%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 771022 FN 04/34 FIXED 5.5                    | CUSIP: 31404KSK9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13915 | PA      | $14118.58      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256175 FN 02/26 FIXED 6.5                    | CUSIP: 31371MQ42<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         65 | PA      | $67.57         | 0.00%             | 2026-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002885 G2 02/30 FIXED 8.5                 | CUSIP: 36202DF22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        813 | PA      | $834.57        | 0.00%             | 2030-02-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTG INV INC 2005-AR5                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2005 AR5 A3        | CUSIP: 86359LPF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     146665 | PA      | $145410.51     | 0.01%             | 2035-07-19      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 846512 FH 08/27 FLOATING VAR         | CUSIP: 3128HDGV5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        140 | PA      | $139.85        | 0.00%             | 2027-08-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATL MTGE ASSOC 2021-H16                               | GOVERNMENT NATIONAL MORTGAGE A GNR 2021 H16 F          | CUSIP: 38382YGW7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   24561430 | PA      | $25208137.83   | 2.12%             | 2071-09-20      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323621 FN 01/29 FIXED VAR                    | CUSIP: 31374TPE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        256 | PA      | $265.74        | 0.00%             | 2029-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA2837 FN 12/38 FIXED 4.5                    | CUSIP: 3140QAEK2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     508619 | PA      | $510792.58     | 0.04%             | 2038-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783610 GN 11/41 FIXED 4.5                    | CUSIP: 3622A2AK8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11926 | PA      | $11934.25      | 0.00%             | 2041-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 773307 GN 11/41 FIXED 4.5                    | CUSIP: 36176Q3Q5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51570 | PA      | $50858.33      | 0.00%             | 2041-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 798815 FN 12/34 FIXED 5.5                    | CUSIP: 31405TN81<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        159 | PA      | $163.78        | 0.00%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A62249 FG 06/37 FIXED 5.5            | CUSIP: 3128KSQA3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4735 | PA      | $4858.99       | 0.00%             | 2037-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01772 FG 02/35 FIXED 5              | CUSIP: 31283H6H3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        196 | PA      | $201.89        | 0.00%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 599416 GN 07/33 FIXED 5.5                    | CUSIP: 36200E3Z2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1780 | PA      | $1797.23       | 0.00%             | 2033-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A84179 FG 01/37 FIXED 4              | CUSIP: 312930UC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      98240 | PA      | $97632.72      | 0.01%             | 2037-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN BUSINESS FIN SERVICES 2002-2                             | ABFS MORTGAGE LOAN TRUST ABFS 2002 2 M1                | CUSIP: 000759CR9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     455043 | PA      | $363079.17     | 0.03%             | 2033-07-15      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 526030 GN 08/30 FIXED 8.5                    | CUSIP: 36211XLK0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2096 | PA      | $2121.14       | 0.00%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA0937 G2 04/43 FIXED 5                   | CUSIP: 36179NBE7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     257924 | PA      | $265520.86     | 0.02%             | 2043-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 617859 GN 12/37 FIXED 6.5                    | CUSIP: 36290UMG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6526 | PA      | $7093.42       | 0.00%             | 2037-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MASTR ASSET SECURIZATION TR 2007-3                                | MASTR ADJUSTABLE RATE MORTGAGE MARM 2007 3 22A5        | CUSIP: 57645NAT7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3039263 | PA      | $2572068.01    | 0.22%             | 2047-05-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080444 G2 08/30 FLOATING VAR              | CUSIP: 36225CP67<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3853 | PA      | $3886.63       | 0.00%             | 2030-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080430 G2 07/30 FLOATING VAR              | CUSIP: 36225CPQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4657 | PA      | $4690.95       | 0.00%             | 2030-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL SD7518 FR 06/50 FIXED 3              | CUSIP: 3132DVK79<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   12722197 | PA      | $11464652.92   | 0.97%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CB0613 FN 05/51 FIXED 3                      | CUSIP: 3140QKVF2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3771664 | PA      | $3341182.49    | 0.28%             | 2051-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA3718 FN 06/49 FIXED 4                      | CUSIP: 3140QBDY1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   11821002 | PA      | $11409943.76   | 0.96%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2002-AR6                                        | WAMU MORTGAGE PASS THROUGH CER WAMU 2002 AR6 A         | CUSIP: 929227QB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      53744 | PA      | $50924.90      | 0.00%             | 2042-06-25      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 640070 FN 03/32 FIXED 6.5                    | CUSIP: 31390ACF5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        323 | PA      | $335.58        | 0.00%             | 2032-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2007-96                                                | FANNIE MAE FNR 2007 96 BF                              | CUSIP: 31396XXB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1118633 | PA      | $1120782.59    | 0.09%             | 2037-10-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 655352 GN 05/36 FIXED 6.5                    | CUSIP: 36294PBV4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        660 | PA      | $695.05        | 0.00%             | 2036-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2001-HYB1                                  | COUNTRYWIDE HOME LOANS CWHL 2001 HYB1 2A1              | CUSIP: 12669B2X9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       1817 | PA      | $1797.43       | 0.00%             | 2031-06-19      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080708 G2 07/33 FLOATING VAR              | CUSIP: 36225CYE0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     257330 | PA      | $261781.91     | 0.02%             | 2033-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08045 FG 03/35 FIXED 5              | CUSIP: 3128MJBP4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7773 | PA      | $7986.41       | 0.00%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EQUIFIRST MORTGAGE LOAN TRUST 2004-1                              | EQUIFIRST MORTGAGE LOAN TRUST EMLT 2004 1 1A1          | CUSIP: 29445FAR9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      48662 | PA      | $48266.95      | 0.00%             | 2034-01-25      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4324                                           | FREDDIE MAC FHR 4324 IO                                | CUSIP: 3137BAGM8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     107218 | PA      | $7557.32       | 0.00%             | 2036-08-15      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| INDYMAC RESIDENTIAL ASSET BACKED 2007-A                           | INDYMAC RESIDENTIAL ASSET BACK INABS 2007 A 1A         | CUSIP: 43710BAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     523639 | PA      | $413490.01     | 0.03%             | 2037-04-25      | Floating      | 4.07%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A54203 FG 11/36 FIXED 6.5            | CUSIP: 3128KGU48<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3567 | PA      | $3766.87       | 0.00%             | 2036-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM5034 FN 12/33 FIXED VAR                    | CUSIP: 3140J9SY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1537031 | PA      | $1539965.85    | 0.13%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRIPS 330                                            | FREDDIEMAC STRIP FHS 330 F4                            | CUSIP: 31351DDT5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     427259 | PA      | $422307.99     | 0.04%             | 2037-10-15      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 3.5 JUMBOS                           | CUSIP: 21H032613<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   17882000 | PA      | $16276101.45   | 1.37%             | 2055-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BR8465 FN 04/51 FIXED 2.5                    | CUSIP: 3140L7MP4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1846960 | PA      | $1577199.53    | 0.13%             | 2051-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 802328 FN 11/34 FIXED 5.5                    | CUSIP: 31405XLH4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2423 | PA      | $2503.50       | 0.00%             | 2034-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY2537 FN 06/53 FIXED 5                      | CUSIP: 3140NJZB3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      95617 | PA      | $96693.26      | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2002-21                                                | FANNIE MAE FNR 2002 21 FC                              | CUSIP: 31392CRC0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        785 | PA      | $787.26        | 0.00%             | 2032-04-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BR6606 GN 02/50 FIXED 3                      | CUSIP: 3617M5KT8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     227646 | PA      | $204797.64     | 0.02%             | 2050-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782490 GN 12/38 FIXED 5                      | CUSIP: 36241KXT0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8724 | PA      | $8966.57       | 0.00%             | 2038-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | 317UAUKA1 PIMCO SWAPTION 4.146 PUT USD 2027102         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |   90700000 | NC      | $140022.66     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 479903 GN 01/31 FIXED 7.5                    | CUSIP: 36209SDG3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        356 | PA      | $363.28        | 0.00%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003001 G2 11/30 FIXED 8.5                 | CUSIP: 36202DKN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1414 | PA      | $1486.70       | 0.00%             | 2030-11-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03400 FG 03/37 FIXED 5.5            | CUSIP: 3128M5DD9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     268158 | PA      | $276883.05     | 0.02%             | 2037-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 255741 FN 06/35 FIXED 6                      | CUSIP: 31371MBJ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23090 | PA      | $24373.95      | 0.00%             | 2035-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AB0270 FN 11/38 FIXED 6                      | CUSIP: 31416VJQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5676 | PA      | $5988.84       | 0.00%             | 2038-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 775177 FN 05/34 FIXED 5.5                    | CUSIP: 31404QFS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      61363 | PA      | $63263.57      | 0.01%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MTGE LOAN TRUST INC 2005-11                             | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2005 11 A1A        | CUSIP: 17307GW53<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        236 | PA      | $239.58        | 0.00%             | 2035-05-25      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 716768 GN 04/39 FIXED 5                      | CUSIP: 3620A2JM9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29598 | PA      | $30201.42      | 0.00%             | 2039-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARBORVIEW MORTGAGE LOAN TR 2006-6                                | HARBORVIEW MORTGAGE LOAN TRUST HVMLT 2006 6 5A1A       | CUSIP: 41161UAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      18468 | PA      | $17624.03      | 0.00%             | 2036-08-19      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008793 G2 01/26 FLOATING VAR              | CUSIP: 36202KXW0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         51 | PA      | $50.84         | 0.00%             | 2026-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 942980 FN 09/37 FIXED 6                      | CUSIP: 31413ECR4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      44417 | PA      | $47003.17      | 0.00%             | 2037-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL SD8525 FR 04/55 FIXED 6              | CUSIP: 3132DWPJ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4355515 | PA      | $4475237.42    | 0.38%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 940639 FN 08/37 FIXED 6                      | CUSIP: 31413BPY1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8924 | PA      | $9416.94       | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A56988 FG 02/37 FIXED 5.5            | CUSIP: 3128KKXR5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5776 | PA      | $6049.20       | 0.00%             | 2037-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 667694 FN 01/33 FIXED 6                      | CUSIP: 31391HXX7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        155 | PA      | $159.30        | 0.00%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 1998-22                                                | FANNIE MAE FNR 1998 22 FA                              | CUSIP: 31359RY63<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        198 | PA      | $198.05        | 0.00%             | 2028-04-18      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4845                                           | FREDDIE MAC FHR 4845 WF                                | CUSIP: 3137FK2D7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1555788 | PA      | $1537279.45    | 0.13%             | 2048-12-15      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 646394 GN 04/36 FIXED 5                      | CUSIP: 36292EC73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16984 | PA      | $17434.86      | 0.00%             | 2036-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A45408 FG 06/35 FIXED 6.5            | CUSIP: 3128K6AH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2266 | PA      | $2353.80       | 0.00%             | 2035-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2454                                                  | FREDDIE MAC FHR 2454 FQ                                | CUSIP: 31392KC38<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8190 | PA      | $8268.30       | 0.00%             | 2031-06-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BI6280 G2 11/48 FIXED 5                   | CUSIP: 3617HF6R2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     514388 | PA      | $515029.36     | 0.04%             | 2048-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A51435 FG 08/36 FIXED 6.5            | CUSIP: 3128KDSY2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13688 | PA      | $14417.32      | 0.00%             | 2036-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL V84392 FG 06/48 FIXED 4.5            | CUSIP: 3132L92Z7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      37680 | PA      | $37500.79      | 0.00%             | 2048-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 669050 GN 05/37 FIXED 6.5                    | CUSIP: 36295FH31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3223 | PA      | $3383.91       | 0.00%             | 2037-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 904864 FN 01/37 FIXED 6                      | CUSIP: 31411DJH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1541 | PA      | $1594.90       | 0.00%             | 2037-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 679243 GN 12/37 FIXED 6                      | CUSIP: 36295SS80<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3259 | PA      | $3406.98       | 0.00%             | 2037-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 838927 FN 08/35 FIXED 6                      | CUSIP: 31407SA44<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      36479 | PA      | $38567.81      | 0.00%             | 2035-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04630 FG 11/29 FIXED 6              | CUSIP: 3128M6PP7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         10 | PA      | $10.69         | 0.00%             | 2029-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SMALL BUSINESS ADMIN PART CERTS 2008-20E                          | SMALL BUSINESS ADMINISTRATION SBAP 2008 20E 1          | CUSIP: 83162CRU9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     207155 | PA      | $209316.96     | 0.02%             | 2028-05-01      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 725495 FN 02/34 FLOATING VAR                 | CUSIP: 31402C7G1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4660 | PA      | $4749.11       | 0.00%             | 2034-02-01      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| SOUNDVIEW HOME EQUITY LN TRUST 2006-NLC1                          | SOUNDVIEW HOME EQUITY LOAN TRU SVHE 2006 NLC1 A1 144A  | CUSIP: 83611DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      56557 | PA      | $15199.88      | 0.00%             | 2036-11-25      | Floating      | 3.97%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BK1962 FN 03/48 FIXED 4                      | CUSIP: 3140HFFC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     439177 | PA      | $423462.53     | 0.04%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OPTION ONE MORTGAGE LOAN TR 2005-1                                | OPTION ONE MORTGAGE LOAN TRUST OOMLT 2005 1 M1         | CUSIP: 68389FGK4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     998612 | PA      | $962826.94     | 0.08%             | 2035-02-25      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080150 G2 01/28 FLOATING VAR              | CUSIP: 36225CEY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6675 | PA      | $6666.72       | 0.00%             | 2028-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08221 FG 09/37 FIXED 5.5            | CUSIP: 3128MJG79<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2288 | PA      | $2393.96       | 0.00%             | 2037-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 005339 G2 03/27 FIXED 2.5                 | CUSIP: 36202F4Y9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6717 | PA      | $6656.10       | 0.00%             | 2027-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ADJ RATE MTG LN 2004-7                                 | STRUCTURED ADJUSTABLE RATE MOR SARM 2004 7 A3          | CUSIP: 86359BRV5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     116524 | PA      | $114668.16     | 0.01%             | 2034-06-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735806 FN 06/35 FLOATING VAR                 | CUSIP: 31402RNX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13798 | PA      | $14170.20      | 0.00%             | 2035-06-01      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| LONG BEACH MTGE LOAN TRUST 2004-4                                 | LONG BEACH MORTGAGE LOAN TRUST LBMLT 2004 4 M3         | CUSIP: 542514HV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      24154 | PA      | $21625.01      | 0.00%             | 2034-10-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C71288 FG 09/32 FIXED 5.5            | CUSIP: 31287YND2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1355 | PA      | $1376.25       | 0.00%             | 2032-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.01250 04/09/24-7Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $446456.46     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| TBW MTGE BACKED P/T CERT 2007-2                                   | TBW MORTGAGE BACKED PASS THROU TBW 2007 2 A6A          | CUSIP: 872227AK9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1303351 | PA      | $480228.75     | 0.04%             | 2037-07-25      | Variable      | 6.51%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 902745 FN 11/36 FIXED 6                      | CUSIP: 31411A5E1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      31707 | PA      | $33147.00      | 0.00%             | 2036-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BI6217 G2 10/48 FIXED 5                   | CUSIP: 3617HF4A1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     115705 | PA      | $115849.06     | 0.01%             | 2048-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A53035 FG 10/36 FIXED 6.5            | CUSIP: 3128KFLQ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8930 | PA      | $9473.96       | 0.00%             | 2036-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02788 FG 03/37 FIXED 5.5            | CUSIP: 3128M4ND1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7093 | PA      | $7428.80       | 0.00%             | 2037-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DRYDEN SENIOR LOAN FUND 2015-41A                                  | DRYDEN SENIOR LOAN FUND DRSLF 2015 41A AR 144A         | CUSIP: 26244KAN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     437609 | PA      | $438147.21     | 0.04%             | 2031-04-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 3.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F032625<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -264600000 | PA      | $-243814429.03 | -20.54%           | 2056-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 552114 GN 10/31 FIXED 7.5                    | CUSIP: 36213EK39<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        502 | PA      | $512.31        | 0.00%             | 2031-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03526 FG 06/36 FIXED 5.5            | CUSIP: 3128M5HB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10783 | PA      | $11292.28      | 0.00%             | 2036-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZS3767 FR 07/43 FIXED 3.5            | CUSIP: 3132A4FG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2451 | PA      | $2347.32       | 0.00%             | 2043-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781936 GN 06/35 FIXED 4.5                    | CUSIP: 36241KEH7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2828 | PA      | $2845.77       | 0.00%             | 2035-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMRESCO RES SEC 1999-1                                            | AMRESCO RESIDENTIAL SECURITIES AMRES 1999 1 A          | CUSIP: 03215PFN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     135390 | PA      | $141914.58     | 0.01%             | 2029-06-25      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS8781 FN 07/33 FIXED 4.86                   | CUSIP: 3140LKXK4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2500000 | PA      | $2561357.48    | 0.22%             | 2033-07-01      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 658132 GN 10/36 FIXED 6                      | CUSIP: 36294SED5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5169 | PA      | $5459.44       | 0.00%             | 2036-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS9302 FN 03/37 FIXED 4                      | CUSIP: 3138WKKQ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1837287 | PA      | $1822995.46    | 0.15%             | 2037-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS8216 FN 04/33 FIXED 4.49                   | CUSIP: 3140LKDW0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2000000 | PA      | $2003033.16    | 0.17%             | 2033-04-01      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA6424 FN 07/50 FIXED 3                      | CUSIP: 3140QED66<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4166256 | PA      | $3698481.07    | 0.31%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080058 G2 04/27 FLOATING VAR              | CUSIP: 36225CB47<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1202 | PA      | $1205.64       | 0.00%             | 2027-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04222 FG 04/38 FIXED 5.5            | CUSIP: 3128M6AX6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24974 | PA      | $26147.49      | 0.00%             | 2038-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL U90133 FG 08/42 FIXED 4              | CUSIP: 3132H3EE9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2884195 | PA      | $2816978.13    | 0.24%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080154 G2 01/28 FLOATING VAR              | CUSIP: 36225CE44<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1057 | PA      | $1055.56       | 0.00%             | 2028-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080541 G2 09/31 FLOATING VAR              | CUSIP: 36225CS72<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     169411 | PA      | $169954.10     | 0.01%             | 2031-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 496113 FN 04/29 FIXED 6.5                    | CUSIP: 31382YDS4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1980 | PA      | $2055.69       | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL U91696 FG 07/43 FIXED 4              | CUSIP: 3132HBXZ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     409536 | PA      | $399988.33     | 0.03%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TBW MTGE BACKED PASS THRU CERT 2006-6                             | TBW MORTGAGE BACKED PASS THROU TBW 2006 6 A6A          | CUSIP: 87222PAV5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     841917 | PA      | $192499.52     | 0.02%             | 2037-01-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BC5222 G2 09/47 FIXED 3.5                 | CUSIP: 3617B8YT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     428876 | PA      | $395920.69     | 0.03%             | 2047-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2016-57                                         | FANNIE MAE FNR 2016 57 FN                              | CUSIP: 3136ATEK6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     634701 | PA      | $626747.63     | 0.05%             | 2046-06-25      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 832445 FN 08/35 FIXED 5                      | CUSIP: 31407JZJ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      50865 | PA      | $52215.52      | 0.00%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 656202 GN 08/36 FIXED 6.5                    | CUSIP: 36294QAB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9760 | PA      | $10250.39      | 0.00%             | 2036-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002910 G2 04/30 FIXED 8.5                 | CUSIP: 36202DGT2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        436 | PA      | $446.67        | 0.00%             | 2030-04-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 683112 FN 02/33 FIXED 5.5                    | CUSIP: 31400B3V6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2840 | PA      | $2881.31       | 0.00%             | 2033-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080283 G2 05/29 FLOATING VAR              | CUSIP: 36225CJ56<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5634 | PA      | $5639.92       | 0.00%             | 2029-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A89352 FG 10/39 FIXED 4.5            | CUSIP: 312936L96<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      93351 | PA      | $93780.16      | 0.01%             | 2039-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ASSET BACKED FUNDING CERT 2002-NC1                                | ASSET BACKED FUNDING CERTIFICA ABFC 2002 NC1 M1        | CUSIP: 04542BAZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      88761 | PA      | $90864.82      | 0.01%             | 2032-03-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2080                                                  | FREDDIE MAC FHR 2080 Z                                 | CUSIP: 3133TG3U1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1930 | PA      | $1960.05       | 0.00%             | 2028-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782294 GN 03/38 FIXED 5.5                    | CUSIP: 36241KRP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     501940 | PA      | $527553.28     | 0.04%             | 2038-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 896032 FN 08/36 FIXED 6                      | CUSIP: 31410SPR2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2970 | PA      | $3082.53       | 0.00%             | 2036-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA MTG SEC 2002-G                                    | BANC OF AMERICA MORTGAGE SECUR BOAMS 2002 G 1A5        | CUSIP: 06050HKT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        411 | PA      | $399.77        | 0.00%             | 2032-07-20      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 725946 FN 11/34 FIXED VAR                    | CUSIP: 31402DP79<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18654 | PA      | $19221.76      | 0.00%             | 2034-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02085 FG 03/36 FIXED 6              | CUSIP: 3128LXJ68<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        815 | PA      | $863.25        | 0.00%             | 2036-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 545511 FN 12/31 FLOATING VAR                 | CUSIP: 31385JAL2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        762 | PA      | $776.65        | 0.00%             | 2031-12-01      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004553 G2 10/39 FIXED 4.5                 | CUSIP: 36202FBW5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      56734 | PA      | $56060.28      | 0.00%             | 2039-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL9380 FN 04/31 FIXED VAR                    | CUSIP: 3138ERM64<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1609440 | PA      | $1583271.78    | 0.13%             | 2031-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 722245 FN 08/33 FIXED 5.5                    | CUSIP: 31401YL29<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7875 | PA      | $7989.34       | 0.00%             | 2033-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 711343 GN 11/35 FIXED 5                      | CUSIP: 36297GHU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        199 | PA      | $199.06        | 0.00%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATL MTGE ASSOC 2009-19                                | GOVERNMENT NATIONAL MORTGAGE A GNR 2009 19 IO          | CUSIP: 38373M6P0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     591243 | PA      | $5.91          | 0.00%             | 2051-03-16      | Variable      | 1.09%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 688088 GN 11/38 FIXED 6.5                    | CUSIP: 36296DND6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11880 | PA      | $12541.37      | 0.00%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 682899 GN 09/40 FIXED 6                      | CUSIP: 36295WUY1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      26704 | PA      | $27751.96      | 0.00%             | 2040-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MTGE LOAN TRUST INC 2005-3                              | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2005 3 2A2B        | CUSIP: 17307GTK4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      41472 | PA      | $37188.76      | 0.00%             | 2035-08-25      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AL1137 GN 01/45 FIXED 3.5                    | CUSIP: 36183WHN5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      35245 | PA      | $32889.66      | 0.00%             | 2045-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 793765 FN 10/34 FIXED 5.5                    | CUSIP: 31405MZ67<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      49143 | PA      | $49863.30      | 0.00%             | 2034-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05956 FG 07/38 FIXED 5.5            | CUSIP: 3128M75R3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5610 | PA      | $5869.86       | 0.00%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2005-14                             | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2005 14 2A2       | CUSIP: 12667GCC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      67273 | PA      | $62888.48      | 0.01%             | 2035-05-25      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 770080 FN 03/34 FIXED 5                      | CUSIP: 31404JQ99<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51943 | PA      | $52151.64      | 0.00%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4165                                           | FREDDIE MAC FHR 4165 TI                                | CUSIP: 3137AYSK8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1325433 | PA      | $63346.68      | 0.01%             | 2042-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735654 FN 10/44 FLOATING VAR                 | CUSIP: 31402RH77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     129673 | PA      | $130436.37     | 0.01%             | 2044-10-01      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2266                                                  | FREDDIE MAC FHR 2266 F                                 | CUSIP: 3133TQFM4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         22 | PA      | $21.74         | 0.00%             | 2030-11-15      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 565164 GN 10/33 FIXED 5.5                    | CUSIP: 36213UZ52<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         95 | PA      | $95.49         | 0.00%             | 2033-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 360765 GN 12/28 FIXED 6.5                    | CUSIP: 36203VW22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        954 | PA      | $989.51        | 0.00%             | 2028-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783313 GN 02/41 FIXED 5.5                    | CUSIP: 36241LVE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7406 | PA      | $7748.52       | 0.00%             | 2041-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BC1138 GN 08/47 FIXED 4                      | CUSIP: 3617B4HP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     291450 | PA      | $279355.02     | 0.02%             | 2047-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A14624 FG 10/33 FIXED 5              | CUSIP: 31296PD58<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1341 | PA      | $1364.63       | 0.00%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 801462 FN 11/34 FIXED 5.5                    | CUSIP: 31405WMK8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1041 | PA      | $1078.16       | 0.00%             | 2034-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 774031 FN 04/34 FIXED 5.5                    | CUSIP: 31404N4Q6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21571 | PA      | $21886.90      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2385                                                  | FREDDIE MAC FHR 2385 FA                                | CUSIP: 31339L4U1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     123405 | PA      | $124478.42     | 0.01%             | 2031-04-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BK7974 FN 11/33 FIXED 4                      | CUSIP: 3140HM2G8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1911857 | PA      | $1915506.48    | 0.16%             | 2033-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE MORTGAGE TRUST 2013-MH1                             | CREDIT SUISSE MORTGAGE TRUST CSMC 2013 MH1 A 144A      | CUSIP: 12647RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4281681 | PA      | $3909105.68    | 0.33%             | 2053-05-27      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 1885                                                  | FREDDIE MAC FHR 1885 FA                                | CUSIP: 3133T83D7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        473 | PA      | $472.70        | 0.00%             | 2026-09-15      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 647400 FN 09/32 FIXED 6                      | CUSIP: 31390JGH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1890 | PA      | $1939.55       | 0.00%             | 2032-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q25578 FG 04/44 FIXED 4              | CUSIP: 3132M52K7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      78973 | PA      | $77142.88      | 0.01%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004143 G2 05/38 FIXED 5                   | CUSIP: 36202ES83<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     414899 | PA      | $425905.55     | 0.04%             | 2038-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 935188 FN 06/39 FIXED 6                      | CUSIP: 31412UND8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23925 | PA      | $24807.03      | 0.00%             | 2039-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 724247 GN 08/39 FIXED 5                      | CUSIP: 3620AATC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3323 | PA      | $3390.38       | 0.00%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02608 FG 02/37 FIXED 5.5            | CUSIP: 3128M4GR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4854 | PA      | $5082.99       | 0.00%             | 2037-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2000-32                                                | FANNIE MAE FNR 2000 32 FM                              | CUSIP: 31358SNY3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4713 | PA      | $4708.89       | 0.00%             | 2030-10-18      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 815117 FN 05/35 FLOATING VAR                 | CUSIP: 31406NSE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4459 | PA      | $4529.25       | 0.00%             | 2035-05-01      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 886293 FN 07/36 FIXED 6.5                    | CUSIP: 31410DUS7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     161806 | PA      | $170605.40     | 0.01%             | 2036-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 604801 GN 11/33 FIXED 5                      | CUSIP: 36200M3J0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      43142 | PA      | $43818.08      | 0.00%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 809203 FN 01/35 FIXED 6.5                    | CUSIP: 31406GAC3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21657 | PA      | $22478.10      | 0.00%             | 2035-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL7772 FN 11/35 FIXED VAR                    | CUSIP: 3138EQT69<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2491177 | PA      | $2461453.15    | 0.21%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM9966 FN 08/43 FIXED VAR                    | CUSIP: 3140XECC6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   24298608 | PA      | $23240298.83   | 1.96%             | 2043-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 456276 FN 12/28 FIXED 6                      | CUSIP: 31381B2H1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         58 | PA      | $59.04         | 0.00%             | 2028-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RC1860 FR 04/36 FIXED 2              | CUSIP: 3133L8B53<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6556043 | PA      | $6079460.77    | 0.51%             | 2036-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 065581 FN 08/28 FLOATING VAR                 | CUSIP: 31362M2N7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5452 | PA      | $5399.85       | 0.00%             | 2028-08-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET INVST LN TR 2005-5                               | STRUCTURED ASSET INVESTMENT LO SAIL 2005 5 M4          | CUSIP: 86358ETJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    6797309 | PA      | $6628897.07    | 0.56%             | 2035-06-25      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2017-15                  | GOVERNMENT NATIONAL MORTGAGE A GNR 2017 15 WI          | CUSIP: 38380CSQ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     452379 | PA      | $19838.18      | 0.00%             | 2045-11-20      | Floating      | 0.79%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 689889 GN 09/38 FIXED 6                      | CUSIP: 36296FNE9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        929 | PA      | $960.16        | 0.00%             | 2038-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 877157 G2 05/30 FLOATING VAR              | CUSIP: 36208AMT5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23317 | PA      | $23346.90      | 0.00%             | 2030-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782150 GN 04/37 FIXED 5.5                    | CUSIP: 36241KL71<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20884 | PA      | $21644.45      | 0.00%             | 2037-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0022 FN 04/29 FIXED 4.5                    | CUSIP: 31417YAY3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4043 | PA      | $4067.29       | 0.00%             | 2029-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AS3285 FN 09/39 FIXED 3.5                    | CUSIP: 3138WCUK7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     245177 | PA      | $237277.11     | 0.02%             | 2039-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 658122 GN 10/36 FIXED 6.5                    | CUSIP: 36294SD38<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2729 | PA      | $2870.29       | 0.00%             | 2036-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735501 FN 05/35 FIXED VAR                    | CUSIP: 31402RDE6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     123394 | PA      | $130459.67     | 0.01%             | 2035-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 452329 FN 12/28 FIXED 6                      | CUSIP: 31380WPN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1006 | PA      | $1038.03       | 0.00%             | 2028-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080406 G2 05/30 FLOATING VAR              | CUSIP: 36225CNY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        577 | PA      | $576.71        | 0.00%             | 2030-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BF0383 FN 04/59 FIXED 4.5                    | CUSIP: 3140FXM90<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    8225003 | PA      | $8041554.41    | 0.68%             | 2059-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL3666 FN 06/43 FIXED VAR                    | CUSIP: 3138ELCC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      93696 | PA      | $91685.60      | 0.01%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 434128 GN 12/28 FIXED 6.5                    | CUSIP: 36207KHD5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        123 | PA      | $124.93        | 0.00%             | 2028-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA7883 G2 02/52 FIXED 3.5                 | CUSIP: 36179WXL7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   10896323 | PA      | $10004675.91   | 0.84%             | 2052-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 764480 GN 05/41 FIXED 5                      | CUSIP: 36176FCR7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4241 | PA      | $4322.96       | 0.00%             | 2041-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 867653 FN 05/36 FIXED 6                      | CUSIP: 31409C5N1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4612 | PA      | $4804.73       | 0.00%             | 2036-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LUMINENT MORTGAGE TRUST 2006-7                                    | LUMINENT MORTGAGE TRUST LUM 2006 7 1A1                 | CUSIP: 55028BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     177871 | PA      | $174698.41     | 0.01%             | 2036-12-25      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 499440 GN 04/29 FIXED 6.5                    | CUSIP: 36210QZD7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        998 | PA      | $1021.77       | 0.00%             | 2029-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| INDYMAC INDX MORTGAGE LOAN TR 2005-AR6                            | INDYMAC INDX MORTGAGE LOAN TRU INDX 2005 AR6 2A1       | CUSIP: 45660LGD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      38173 | PA      | $31713.99      | 0.00%             | 2035-04-25      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 920169 FN 09/36 FIXED 6.5                    | CUSIP: 31412BJN3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14304 | PA      | $15061.23      | 0.00%             | 2036-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 723631 GN 01/40 FIXED 5.5                    | CUSIP: 3620A94Q1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5556 | PA      | $5723.15       | 0.00%             | 2040-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A38837 FG 05/35 FIXED 4.5            | CUSIP: 31297UZA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      42873 | PA      | $43315.81      | 0.00%             | 2035-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 809297 FN 02/35 FIXED 5.5                    | CUSIP: 31406GDA4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11417 | PA      | $11942.50      | 0.00%             | 2035-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02683 FG 02/37 FIXED 6.5            | CUSIP: 3128M4J46<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9856 | PA      | $10281.84      | 0.00%             | 2037-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BA5882 G2 07/47 FIXED 3.5                 | CUSIP: 3617AJRB3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     662577 | PA      | $611892.67     | 0.05%             | 2047-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 433689 GN 04/28 FIXED 7                      | CUSIP: 36207JXS7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         40 | PA      | $39.65         | 0.00%             | 2028-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 779385 GN 06/42 FIXED 3.5                    | CUSIP: 36176XUJ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1396689 | PA      | $1306806.23    | 0.11%             | 2042-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 802071 FN 10/34 FIXED 5.5                    | CUSIP: 31405XCG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8976 | PA      | $9308.08       | 0.00%             | 2034-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 663771 GN 01/37 FIXED 6.5                    | CUSIP: 36294YMU5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4927 | PA      | $5163.16       | 0.00%             | 2037-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 603250 GN 04/34 FIXED 5.5                    | CUSIP: 36200KEX1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        349 | PA      | $352.50        | 0.00%             | 2034-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AT9697 FN 06/43 FIXED 4                      | CUSIP: 3138WXX36<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     259574 | PA      | $253700.42     | 0.02%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AR2132 FN 01/43 FIXED 4                      | CUSIP: 3138NYLN3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21470 | PA      | $21369.80      | 0.00%             | 2043-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL U63001 FG 07/43 FIXED 3              | CUSIP: 3132JRKN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     794481 | PA      | $731334.50     | 0.06%             | 2043-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RENAISSANCE HOME EQUITY LOAN TRUST 2002-2                         | RENAISSANCE HOME EQUITY LOAN T RAMC 2002 2 M1          | CUSIP: 759950AH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     187529 | PA      | $180069.28     | 0.02%             | 2032-08-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 841085 FN 09/35 FIXED 6                      | CUSIP: 31407UNA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5150 | PA      | $5340.03       | 0.00%             | 2035-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781029 GN 05/29 FIXED 6.5                    | CUSIP: 36225BEA2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20986 | PA      | $21607.74      | 0.00%             | 2029-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080112 G2 09/27 FLOATING VAR              | CUSIP: 36225CDS2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        562 | PA      | $566.19        | 0.00%             | 2027-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A68769 FG 10/32 FIXED 5.5            | CUSIP: 3128L0W65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24948 | PA      | $25329.69      | 0.00%             | 2032-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A72667 FG 02/38 FIXED 5              | CUSIP: 3128L56C0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13698 | PA      | $14109.88      | 0.00%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003939 G2 01/37 FIXED 5                   | CUSIP: 36202ELU1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      42412 | PA      | $43463.48      | 0.00%             | 2037-01-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A35283 FG 06/35 FIXED 5.5            | CUSIP: 31297Q2Q1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5470 | PA      | $5704.59       | 0.00%             | 2035-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 678888 FN 01/33 FIXED 6                      | CUSIP: 31391WF55<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4737 | PA      | $4863.31       | 0.00%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04585 FG 02/38 FIXED 5.5            | CUSIP: 3128M6NA2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4592 | PA      | $4809.57       | 0.00%             | 2038-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0156 FN 08/29 FIXED 5                      | CUSIP: 31417YE60<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11157 | PA      | $11288.54      | 0.00%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A47402 FG 10/35 FIXED 5              | CUSIP: 3128K8GK6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1707 | PA      | $1754.98       | 0.00%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 658374 GN 11/36 FIXED 6.5                    | CUSIP: 36294SMX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        642 | PA      | $677.59        | 0.00%             | 2036-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QD8810 FR 03/52 FIXED 3              | CUSIP: 3133B6YF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     576385 | PA      | $510976.28     | 0.04%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781339 GN 09/31 FIXED 8                      | CUSIP: 36225BPY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1280 | PA      | $1367.54       | 0.00%             | 2031-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AX2180 FN 11/44 FIXED 5                      | CUSIP: 3138Y3M65<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12284 | PA      | $12372.10      | 0.00%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782710 GN 07/39 FIXED 5                      | CUSIP: 36241LAK2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14450 | PA      | $14872.81      | 0.00%             | 2039-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003840 G2 04/36 FIXED 5                   | CUSIP: 36202EHR3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      21233 | PA      | $21727.18      | 0.00%             | 2036-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BE1638 G2 12/47 FIXED 4                   | CUSIP: 3617BUZB8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     520343 | PA      | $508153.56     | 0.04%             | 2047-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 757021 FN 04/34 FIXED 5.5                    | CUSIP: 31403TAW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14762 | PA      | $15329.88      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BE6179 GN 12/47 FIXED 4                      | CUSIP: 3617G02L3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      55058 | PA      | $52680.10      | 0.00%             | 2047-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 946646 FN 09/37 FIXED 6                      | CUSIP: 31413JET7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        542 | PA      | $565.79        | 0.00%             | 2037-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781611 GN 05/33 FIXED 5                      | CUSIP: 36225BYG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        273 | PA      | $279.14        | 0.00%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AB7792 GN 11/42 FIXED 3.5                    | CUSIP: 36178UUR2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6246 | PA      | $5832.76       | 0.00%             | 2042-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 357850 FN 07/35 FIXED 5.5                    | CUSIP: 31376KQB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     118620 | PA      | $123884.40     | 0.01%             | 2035-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ADJUSTABLE RT MTGE LN 2005-15                          | STRUCTURED ADJUSTABLE RATE MOR SARM 2005 15 4A1        | CUSIP: 863579UU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      13919 | PA      | $12286.32      | 0.00%             | 2035-07-25      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 757772 FN 10/34 FIXED 5.5                    | CUSIP: 31403T2D5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5820 | PA      | $6012.17       | 0.00%             | 2034-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BO5356 FN 12/49 FIXED 3                      | CUSIP: 3140K05S3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1096558 | PA      | $986299.22     | 0.08%             | 2049-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782775 GN 10/39 FIXED 6                      | CUSIP: 36241LCL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6725 | PA      | $7099.66       | 0.00%             | 2039-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS9367 FN 08/33 FIXED 4.58                   | CUSIP: 3140LLMR9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1000000 | PA      | $1013318.42    | 0.09%             | 2033-08-01      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 889992 FN 06/38 FIXED VAR                    | CUSIP: 31410KXV1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20000 | PA      | $20903.76      | 0.00%             | 2038-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 778068 FN 05/34 FIXED 5.5                    | CUSIP: 31404TMR1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6778 | PA      | $6874.78       | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A77808 FG 05/38 FIXED 5.5            | CUSIP: 3128LBU97<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13836 | PA      | $14401.16      | 0.00%             | 2038-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AS6886 G2 03/46 FIXED 3.5                 | CUSIP: 36193SUK3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1031132 | PA      | $952299.75     | 0.08%             | 2046-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 780123 FN 05/34 FIXED 5.5                    | CUSIP: 31404VVQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      26771 | PA      | $27820.87      | 0.00%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782336 GN 05/38 FIXED 6                      | CUSIP: 36241KSZ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7376 | PA      | $7698.86       | 0.00%             | 2038-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0140 FN 08/29 FIXED 4.5                    | CUSIP: 31417YEN3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      25837 | PA      | $25953.83      | 0.00%             | 2029-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BF2893 G2 06/48 FIXED 4                   | CUSIP: 3617G9GA3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      96614 | PA      | $91827.67      | 0.01%             | 2048-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ASSET BACKED SECURITIES TRUST 2003-1                 | BEAR STEARNS ASSET BACKED SECU BSABS 2003 1 A2         | CUSIP: 07384YGY6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      79431 | PA      | $80805.64      | 0.01%             | 2042-11-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2005-2                                     | COUNTRYWIDE HOME LOANS CWHL 2005 2 1A1                 | CUSIP: 12669GPN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      26361 | PA      | $24500.92      | 0.00%             | 2035-03-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 780840 G2 07/28 FIXED 8.5                 | CUSIP: 36225A4Z0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2682 | PA      | $2716.25       | 0.00%             | 2028-07-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 486951 GN 02/29 FIXED 6.5                    | CUSIP: 36210A5L7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2992 | PA      | $3053.62       | 0.00%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 254447 FN 09/32 FIXED 6                      | CUSIP: 31371KTC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3167 | PA      | $3275.14       | 0.00%             | 2032-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2015-165                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2015 165 IB         | CUSIP: 38379FE39<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1990355 | PA      | $179720.45     | 0.02%             | 2042-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G07386 FG 08/40 FIXED 5.5            | CUSIP: 3128M9RF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      60517 | PA      | $63379.55      | 0.01%             | 2040-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 685615 FN 02/33 FIXED 6                      | CUSIP: 31400EVG2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4415 | PA      | $4530.43       | 0.00%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C60346 FG 10/31 FIXED 6.5            | CUSIP: 31298YL33<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3552 | PA      | $3690.13       | 0.00%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTG INV INC 2005-AR4                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2006 AR4 2A1       | CUSIP: 86360QAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      33012 | PA      | $32933.78      | 0.00%             | 2036-06-25      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 888352 FN 05/37 FIXED VAR                    | CUSIP: 31410F5M3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1210 | PA      | $1265.56       | 0.00%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A76047 FG 04/38 FIXED 5.5            | CUSIP: 3128L9WG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6856 | PA      | $7154.82       | 0.00%             | 2038-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 252469 FN 10/28 FIXED 7.5                    | CUSIP: 31371HMS4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2875 | PA      | $2872.46       | 0.00%             | 2028-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G00811 FG 08/27 FIXED 8.5            | CUSIP: 31283G3U9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        168 | PA      | $170.51        | 0.00%             | 2027-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91112 FG 10/27 FIXED 6              | CUSIP: 3128P7GV9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2123 | PA      | $2180.90       | 0.00%             | 2027-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91218 FG 11/28 FIXED 6              | CUSIP: 3128P7K77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        533 | PA      | $547.76        | 0.00%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HARBORVIEW MORTGAGE LOAN TRUST 2004-6                             | HARBORVIEW MORTGAGE LOAN TRUST HVMLT 2004 6 3A2A       | CUSIP: 41161PFS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     325438 | PA      | $303608.59     | 0.03%             | 2034-08-19      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 683288 FN 02/33 FIXED 5.5                    | CUSIP: 31400CCZ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        397 | PA      | $402.50        | 0.00%             | 2033-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TOWD POINT MORTGAGE TRUST 2019-4                                  | TOWD POINT MORTGAGE TRUST TPMT 2019 4 A1 144A          | CUSIP: 89178BAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4650511 | PA      | $4492040.87    | 0.38%             | 2059-10-25      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 658104 GN 09/36 FIXED 6.5                    | CUSIP: 36294SDH7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2202 | PA      | $2321.09       | 0.00%             | 2036-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 946731 FN 09/37 FIXED 6.5                    | CUSIP: 31413JHG2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        276 | PA      | $292.85        | 0.00%             | 2037-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 756181 FN 12/33 FIXED 5.5                    | CUSIP: 31403SCS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4618 | PA      | $4745.54       | 0.00%             | 2033-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0606 FN 12/30 FIXED 4.5                    | CUSIP: 31417YU88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5784 | PA      | $5831.07       | 0.00%             | 2030-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 811773 FN 01/35 FIXED 5.5                    | CUSIP: 31406J2E2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4920 | PA      | $5146.87       | 0.00%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM3638 FN 08/44 FIXED VAR                    | CUSIP: 3140J8BG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1320879 | PA      | $1293096.72    | 0.11%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 824962 FN 05/35 FIXED 6                      | CUSIP: 31407AQP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3307 | PA      | $3418.23       | 0.00%             | 2035-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G30393 FG 05/28 FIXED 6              | CUSIP: 3128CUNJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2644 | PA      | $2715.94       | 0.00%             | 2028-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002231 G2 06/26 FIXED 7                   | CUSIP: 36202CPQ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |          7 | PA      | $7.44          | 0.00%             | 2026-06-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MELLON RESIDENTIAL FUNDING CO 2001-TBC1                           | MELLON RESIDENTIAL FUNDING COR MRFC 2001 TBC1 B1       | CUSIP: 585525FE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       5395 | PA      | $5160.71       | 0.00%             | 2031-11-15      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL BC1102 GN 07/47 FIXED 4                      | CUSIP: 3617B4GK7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     154716 | PA      | $148295.48     | 0.01%             | 2047-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01975 FG 06/35 FIXED 6              | CUSIP: 3128LXFQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10105 | PA      | $10527.06      | 0.00%             | 2035-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 678950 GN 10/37 FIXED 6.5                    | CUSIP: 36295SH33<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16227 | PA      | $16951.27      | 0.00%             | 2037-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AU0485 FN 06/43 FIXED 4                      | CUSIP: 3138WZRF1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     557233 | PA      | $544792.69     | 0.05%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080221 G2 08/28 FLOATING VAR              | CUSIP: 36225CG75<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        851 | PA      | $856.29        | 0.00%             | 2028-08-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 826082 FN 07/35 FLOATING VAR                 | CUSIP: 31407BXK0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5327 | PA      | $5438.54       | 0.00%             | 2035-07-01      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 3684                                           | FREDDIE MAC FHR 3684 JI                                | CUSIP: 3137A06E0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     263442 | PA      | $15142.70      | 0.00%             | 2036-11-15      | Floating      | 1.77%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05860 FG 02/40 FIXED 5.5            | CUSIP: 3128M7ZZ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10679 | PA      | $11145.24      | 0.00%             | 2040-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782690 GN 06/39 FIXED 5                      | CUSIP: 36241K7B8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     239094 | PA      | $246088.57     | 0.02%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 555272 FN 03/33 FIXED VAR                    | CUSIP: 31385W2D0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7126 | PA      | $7385.05       | 0.00%             | 2033-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM7070 FN 04/51 FIXED VAR                    | CUSIP: 3140XA2C5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4233898 | PA      | $3832629.46    | 0.32%             | 2051-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08118 FG 03/36 FIXED 6.5            | CUSIP: 3128MJDY3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5354 | PA      | $5689.91       | 0.00%             | 2036-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256946 FN 10/27 FIXED 6.5                    | CUSIP: 31371NL37<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10224 | PA      | $10610.03      | 0.00%             | 2027-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TBW MTGE BACKED PASS THRU CERT 2006-4                             | TBW MORTGAGE BACKED PASS THROU TBW 2006 4 A6           | CUSIP: 872224AG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    9084981 | PA      | $224802.40     | 0.02%             | 2036-09-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 735649 FN 12/32 FIXED VAR                    | CUSIP: 31402RH28<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5378 | PA      | $5574.97       | 0.00%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 695998 GN 07/38 FIXED 5.5                    | CUSIP: 36296NGF7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      52816 | PA      | $55520.46      | 0.00%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 723748 GN 05/40 FIXED 4.5                    | CUSIP: 3620AABR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     126829 | PA      | $128759.52     | 0.01%             | 2040-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2016-52                                         | FANNIE MAE FNR 2016 52 PI                              | CUSIP: 3136AS6D3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     761887 | PA      | $80951.04      | 0.01%             | 2046-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2005-14                             | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2005 14 4A1       | CUSIP: 12667GCH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      41443 | PA      | $39651.54      | 0.00%             | 2035-05-25      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2015-127                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2015 127 AS         | CUSIP: 38379MX90<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     406061 | PA      | $21544.86      | 0.00%             | 2043-06-20      | Floating      | 0.83%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 496119 FN 04/29 FIXED 6.5                    | CUSIP: 31382YDY1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        321 | PA      | $332.98        | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 831804 FN 10/36 FIXED 6.5                    | CUSIP: 31407JDH2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      14983 | PA      | $15927.89      | 0.00%             | 2036-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003918 G2 11/36 FIXED 5                   | CUSIP: 36202EK73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      12953 | PA      | $13275.63      | 0.00%             | 2036-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL ZL2783 FR 03/42 FIXED 3.5            | CUSIP: 3131XJCU4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2316 | PA      | $2226.89       | 0.00%             | 2042-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 791585 FN 09/34 FIXED 6                      | CUSIP: 31405KNA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        545 | PA      | $559.30        | 0.00%             | 2034-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04628 FG 05/33 FIXED 6              | CUSIP: 3128M6PM4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5973 | PA      | $6137.38       | 0.00%             | 2033-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AX2582 GN 02/47 FIXED 3                      | CUSIP: 36196D2P3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      65107 | PA      | $58886.84      | 0.00%             | 2047-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2015-50                                         | FANNIE MAE FNR 2015 50 SB                              | CUSIP: 3136APNG3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1303032 | PA      | $75046.82      | 0.01%             | 2045-07-25      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS9690 FN 10/28 FIXED 4.9                    | CUSIP: 3140LLXU0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     707701 | PA      | $724613.62     | 0.06%             | 2028-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q01328 FG 06/41 FIXED 5.5            | CUSIP: 3132GEPM6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     483139 | PA      | $501694.67     | 0.04%             | 2041-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LCM 30 LTD                                                        | LCM LTD PARTNERSHIP LCM 30A AR 144A                    | CUSIP: 50200YAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1864629 | PA      | $1865882.17    | 0.16%             | 2031-04-20      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 739739 FN 12/33 FIXED 5.5                    | CUSIP: 31402VZC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         54 | PA      | $54.58         | 0.00%             | 2033-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BE6527 G2 02/48 FIXED 3.5                 | CUSIP: 3617G1HC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     533755 | PA      | $492270.48     | 0.04%             | 2048-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA MTGE SECS-2006-A                                  | BANC OF AMERICA MORTGAGE SECUR BOAMS 2006 A 2A1        | CUSIP: 05949CRS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      63508 | PA      | $58387.19      | 0.00%             | 2036-02-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C01005 FG 06/30 FIXED 8              | CUSIP: 31292HDJ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        322 | PA      | $335.81        | 0.00%             | 2030-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 846775 FH 11/29 FLOATING VAR         | CUSIP: 3128HDQ44<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      19107 | PA      | $19234.95      | 0.00%             | 2029-11-01      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 2.5 JUMBOS                           | CUSIP: 21H022614<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   27950000 | PA      | $24113425.92   | 2.03%             | 2055-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2014-45                                         | FANNIE MAE FNR 2014 45 SA                              | CUSIP: 3136AKUC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     242108 | PA      | $17714.44      | 0.00%             | 2044-08-25      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 550688 GN 10/35 FIXED 6.5                    | CUSIP: 36213CXR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1116 | PA      | $1177.67       | 0.00%             | 2035-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 648540 FN 06/32 FIXED 6                      | CUSIP: 31390KPZ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5676 | PA      | $5825.91       | 0.00%             | 2032-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C90968 FG 05/26 FIXED 5              | CUSIP: 3128P7CD3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        271 | PA      | $271.19        | 0.00%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHMAN XS TRUST 2006-16N                                          | LEHMAN XS TRUST LXS 2006 16N A322                      | CUSIP: 52522DAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1567954 | PA      | $1233454.20    | 0.10%             | 2046-11-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 707895 GN 04/39 FIXED 5                      | CUSIP: 36297CNL9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     100259 | PA      | $103063.75     | 0.01%             | 2039-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 893888 FN 10/36 FIXED 6                      | CUSIP: 31410QCZ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        300 | PA      | $316.18        | 0.00%             | 2036-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 724938 FN 06/33 FIXED 5.5                    | CUSIP: 31402CLT7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5193 | PA      | $5268.07       | 0.00%             | 2033-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01864 FG 01/34 FIXED 5              | CUSIP: 3128LXB90<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17296 | PA      | $17604.59      | 0.00%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4255                                           | FREDDIE MAC FHR 4255 SN                                | CUSIP: 3137B5HZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2547038 | PA      | $2606862.67    | 0.22%             | 2035-05-15      | Floating      | 1.23%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 795111 FN 10/34 FIXED 5.5                    | CUSIP: 31405PKY5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        280 | PA      | $283.66        | 0.00%             | 2034-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03202 FG 09/37 FIXED 5.5            | CUSIP: 3128M43K7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8870 | PA      | $9286.95       | 0.00%             | 2037-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHASE MORTGAGE FINANCE CORP 2006-A1                               | CHASE MORTGAGE FINANCE CORPORA CHASE 2006 A1 1A2       | CUSIP: 16163CAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      13109 | PA      | $11719.06      | 0.00%             | 2036-09-25      | Floating      | 4.04%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782848 GN 08/39 FIXED 5.5                    | CUSIP: 36241LEV4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2750 | PA      | $2852.54       | 0.00%             | 2039-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 702849 FN 04/33 FIXED 6                      | CUSIP: 31401AZN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2988 | PA      | $3066.46       | 0.00%             | 2033-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 903816 FN 12/36 FIXED 6                      | CUSIP: 31411CDV0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5743 | PA      | $6077.16       | 0.00%             | 2036-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A11990 FG 08/33 FIXED 5              | CUSIP: 31296LF71<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        125 | PA      | $127.73        | 0.00%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 913929 FN 02/37 FIXED 6.5                    | CUSIP: 31411SLJ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1869 | PA      | $1961.06       | 0.00%             | 2037-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 683565 GN 02/38 FIXED 6.5                    | CUSIP: 36295XMN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10060 | PA      | $10574.45      | 0.00%             | 2038-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A96095 FG 01/41 FIXED 5.5            | CUSIP: 312944XY2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29416 | PA      | $30472.46      | 0.00%             | 2041-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CB0200 FN 04/51 FIXED 3                      | CUSIP: 3140QKGJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   11336238 | PA      | $10056788.70   | 0.85%             | 2051-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 678761 GN 11/37 FIXED 6                      | CUSIP: 36295SB62<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      48847 | PA      | $50885.96      | 0.00%             | 2037-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 3621                                           | FREDDIE MAC FHR 3621 WI                                | CUSIP: 31398W2S2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     245665 | PA      | $13736.89      | 0.00%             | 2037-05-15      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05044 FG 08/38 FIXED 5.5            | CUSIP: 3128M65D6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29121 | PA      | $30462.49      | 0.00%             | 2038-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 662584 GN 09/37 FIXED 6.5                    | CUSIP: 36294XCV6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      33362 | PA      | $34859.48      | 0.00%             | 2037-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 928206 FN 04/37 FIXED 6                      | CUSIP: 31412LGP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2415 | PA      | $2555.37       | 0.00%             | 2037-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL 2004-AR10                                       | WAMU MORTGAGE PASS THROUGH CER WAMU 2004 AR10 A1C      | CUSIP: 92922FWV6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      34144 | PA      | $33391.89      | 0.00%             | 2044-07-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2012-111                                        | FANNIE MAE FNR 2012 111 HS                             | CUSIP: 3136A9HB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     413033 | PA      | $287373.70     | 0.02%             | 2042-10-25      | Floating      | 0.34%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 781048 GN 06/29 FIXED 6.5                    | CUSIP: 36225BEV6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6478 | PA      | $6660.75       | 0.00%             | 2029-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BEAR STEARNS ADJ RATE MTGE TR 2003-6                              | BEAR STEARNS ADJUSTABLE RATE M BSARM 2003 6 2A1        | CUSIP: 07384MXB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      30866 | PA      | $30554.97      | 0.00%             | 2033-08-25      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL5443 FN 04/40 FIXED VAR                    | CUSIP: 3138ENBM0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28349 | PA      | $29911.29      | 0.00%             | 2040-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 682904 GN 10/40 FIXED 6                      | CUSIP: 36295WU54<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      34813 | PA      | $36040.68      | 0.00%             | 2040-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A14440 FG 10/33 FIXED 5.5            | CUSIP: 31296N4Z7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1120 | PA      | $1137.15       | 0.00%             | 2033-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080187 G2 04/28 FLOATING VAR              | CUSIP: 36225CF50<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1165 | PA      | $1166.43       | 0.00%             | 2028-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 942283 FN 08/37 FIXED 6                      | CUSIP: 31413DJ40<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      84507 | PA      | $89426.29      | 0.01%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL RA7020 FR 03/52 FIXED 2.5            | CUSIP: 3133KNYR8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     273391 | PA      | $234356.19     | 0.02%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080706 G2 07/33 FLOATING VAR              | CUSIP: 36225CYC4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     215970 | PA      | $217406.08     | 0.02%             | 2033-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AE3307 GN 10/46 FIXED 2.5                    | CUSIP: 36180VU88<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     307798 | PA      | $267570.93     | 0.02%             | 2046-10-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL SD8533 FR 05/55 FIXED 5.5            | CUSIP: 3132DWPS6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     952173 | PA      | $966219.19     | 0.08%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 793997 FN 09/34 FIXED 5.5                    | CUSIP: 31405NDA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7035 | PA      | $7297.65       | 0.00%             | 2034-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C00835 FG 07/29 FIXED 6.5            | CUSIP: 31292G4U7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        109 | PA      | $112.97        | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 4 SINGLE FAMILY MORTGAGE                | CUSIP: 01F040628<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -169660000 | PA      | $-160843436.56 | -13.55%           | 2056-02-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05335 FG 03/39 FIXED 5              | CUSIP: 3128M7HL3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     384762 | PA      | $396328.82     | 0.03%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A77057 FG 05/38 FIXED 5.5            | CUSIP: 3128LAZW3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6484 | PA      | $6766.50       | 0.00%             | 2038-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 769755 GN 09/41 FIXED 4                      | CUSIP: 36176L5Q4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     134924 | PA      | $132037.46     | 0.01%             | 2041-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA0185 FN 08/39 FIXED 5.5                    | CUSIP: 31417YF36<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     679765 | PA      | $686947.04     | 0.06%             | 2039-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323412 FN 12/28 FIXED VAR                    | CUSIP: 31374TGV5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        640 | PA      | $664.49        | 0.00%             | 2028-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BS8724 FN 07/33 FIXED 4.63                   | CUSIP: 3140LKVS9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3446296 | PA      | $3459559.07    | 0.29%             | 2033-07-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 847040 FH 02/29 FLOATING VAR         | CUSIP: 3128HDZD4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |          4 | PA      | $3.57          | 0.00%             | 2029-02-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03320 FG 09/37 FIXED 5.5            | CUSIP: 3128M5AV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8249 | PA      | $8634.18       | 0.00%             | 2037-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04688 FG 09/38 FIXED 5.5            | CUSIP: 3128M6RH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      29758 | PA      | $31065.68      | 0.00%             | 2038-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 740173 FN 09/33 FIXED 5.5                    | CUSIP: 31402WJS8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1729 | PA      | $1754.80       | 0.00%             | 2033-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.36750 11/28/22-10Y LCH                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $75398.25      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ELLINGTON LOAN ACQUISITION TRUST 2007-2                           | ELLINGTON LOAN ACQUISITION TRU ELAT 2007 2 A1 144A     | CUSIP: 288547AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     674898 | PA      | $670551.67     | 0.06%             | 2037-05-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 781964 FN 06/34 FIXED 5.5                    | CUSIP: 31404XWZ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1826 | PA      | $1852.73       | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G08314 FG 01/39 FIXED 5.5            | CUSIP: 3128MJK41<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      82615 | PA      | $86222.02      | 0.01%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A68524 FG 11/37 FIXED 6              | CUSIP: 3128L0PH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2717 | PA      | $2791.05       | 0.00%             | 2037-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AA3979 FN 03/37 FIXED 5                      | CUSIP: 31416MM50<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      75140 | PA      | $75365.59      | 0.01%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04845 FG 05/36 FIXED 6              | CUSIP: 3128M6WE4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1091035 | PA      | $1155476.84    | 0.10%             | 2036-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA0072 G2 05/27 FIXED 2.5                 | CUSIP: 36179MCH1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     109686 | PA      | $108588.48     | 0.01%             | 2027-05-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A58677 FG 03/37 FIXED 5.5            | CUSIP: 3128KMUA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1097 | PA      | $1131.43       | 0.00%             | 2037-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782288 GN 12/37 FIXED 6.5                    | CUSIP: 36241KRH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      62377 | PA      | $66768.02      | 0.01%             | 2037-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01883 FG 08/35 FIXED 5              | CUSIP: 3128LXCU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        270 | PA      | $276.98        | 0.00%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 806211 FN 01/35 FIXED 5.5                    | CUSIP: 31406CVC9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9394 | PA      | $9655.08       | 0.00%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL C91149 FG 01/28 FIXED 6              | CUSIP: 3128P7H22<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3518 | PA      | $3613.84       | 0.00%             | 2028-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 929836 FN 08/38 FIXED 6                      | CUSIP: 31412NBD7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4849 | PA      | $5123.54       | 0.00%             | 2038-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 256821 FN 07/27 FIXED 6.5                    | CUSIP: 31371NG66<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5166 | PA      | $5361.62       | 0.00%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FS0900 FN 07/43 FIXED VAR                    | CUSIP: 3140XGAA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    9542948 | PA      | $9162784.09    | 0.77%             | 2043-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AO0095 GN 07/45 FIXED 3                      | CUSIP: 3617A0C87<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     243405 | PA      | $220197.70     | 0.02%             | 2045-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783473 GN 11/41 FIXED 3.5                    | CUSIP: 36241L2E5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     683027 | PA      | $640228.25     | 0.05%             | 2041-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q01226 FG 06/41 FIXED 5              | CUSIP: 3132GELF5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3230 | PA      | $3315.83       | 0.00%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080198 G2 05/28 FLOATING VAR              | CUSIP: 36225CGG5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1194 | PA      | $1201.38       | 0.00%             | 2028-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 479529 GN 08/30 FIXED 8.5                    | CUSIP: 36209RVW0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4970 | PA      | $5123.90       | 0.00%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q35988 FG 09/45 FIXED 4              | CUSIP: 3132QSUN6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     242687 | PA      | $236347.81     | 0.02%             | 2045-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 654758 GN 09/36 FIXED 6.5                    | CUSIP: 36294NMF2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      11586 | PA      | $12195.22      | 0.00%             | 2036-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 914048 FN 03/37 FIXED 6                      | CUSIP: 31411SP91<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38270 | PA      | $40010.03      | 0.00%             | 2037-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 716206 GN 05/39 FIXED 5                      | CUSIP: 3620A1U71<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1936 | PA      | $1989.61       | 0.00%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 594701 GN 01/33 FIXED 5.5                    | CUSIP: 36201VU26<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      33950 | PA      | $34336.66      | 0.00%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 711090 FN 07/33 FIXED 5.5                    | CUSIP: 31401K7B5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5707 | PA      | $5788.33       | 0.00%             | 2033-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL D97932 FG 07/28 FIXED 5              | CUSIP: 3128E4Y55<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5852 | PA      | $5898.64       | 0.00%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q60520 FG 12/48 FIXED 4              | CUSIP: 3132VLSJ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1431662 | PA      | $1386535.55    | 0.12%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04044 FG 03/38 FIXED 5.5            | CUSIP: 3128M5ZH6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      23224 | PA      | $24252.00      | 0.00%             | 2038-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 757044 GN 12/40 FIXED 4                      | CUSIP: 36230RZH2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      17425 | PA      | $16917.47      | 0.00%             | 2040-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03812 FG 02/38 FIXED 5.5            | CUSIP: 3128M5R93<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     150839 | PA      | $157560.68     | 0.01%             | 2038-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HARBORVIEW MORTGAGE LOAN TR 2006-4                                | HARBORVIEW MORTGAGE LOAN TRUST HVMLT 2006 4 3A1A       | CUSIP: 41161PL76<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     510171 | PA      | $147239.25     | 0.01%             | 2046-05-19      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 728723 FN 07/33 FIXED 5.5                    | CUSIP: 31402GSL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      30834 | PA      | $31282.59      | 0.00%             | 2033-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003974 G2 04/37 FIXED 5                   | CUSIP: 36202EMX4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2807 | PA      | $2876.57       | 0.00%             | 2037-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 562346 GN 01/34 FIXED 5                      | CUSIP: 36213RWF0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         87 | PA      | $87.40         | 0.00%             | 2034-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA2894 G2 06/45 FIXED 4.5                 | CUSIP: 36179RGB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      38371 | PA      | $38284.66      | 0.00%             | 2045-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008842 G2 03/26 FLOATING VAR              | CUSIP: 36202KZF5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         10 | PA      | $9.69          | 0.00%             | 2026-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL QD8806 FR 03/52 FIXED 3              | CUSIP: 3133B6YB0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     266037 | PA      | $236085.37     | 0.02%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 614894 FN 12/31 FIXED 6                      | CUSIP: 31388UC73<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        371 | PA      | $381.11        | 0.00%             | 2031-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080199 G2 05/28 FLOATING VAR              | CUSIP: 36225CGH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        630 | PA      | $631.62        | 0.00%             | 2028-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY4799 FN 06/53 FIXED 5                      | CUSIP: 3140NMKM8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1054372 | PA      | $1063016.00    | 0.09%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 373182 FN 05/36 FLOATING VAR                 | CUSIP: 31377CRB1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        884 | PA      | $871.27        | 0.00%             | 2036-05-01      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| UCFC MANU HOUSING 1996-1                                          | UCFC MANUFACTURED HOUSING CONT UCFCM 1996 1 M          | CUSIP: 90263AAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      16141 | PA      | $15649.79      | 0.00%             | 2028-01-15      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 008876 G2 05/26 FLOATING VAR              | CUSIP: 36202K2H7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        306 | PA      | $305.49        | 0.00%             | 2026-05-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| EMCM MORTGAGE LOAN TRUST 2001-A                                   | EMC MORTGAGE LOAN TRUST EMCM 2001 A A 144A             | CUSIP: 268668AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      86085 | PA      | $85276.52      | 0.01%             | 2040-05-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 771778 FN 03/34 FIXED 5.5                    | CUSIP: 31404LM31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        824 | PA      | $835.82        | 0.00%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 948564 FN 08/38 FIXED 6.5                    | CUSIP: 31413LJH3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      73545 | PA      | $77456.27      | 0.01%             | 2038-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2015-19                                         | FANNIE MAE FNR 2015 19 AI                              | CUSIP: 3136ANJM0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     461253 | PA      | $22789.29      | 0.00%             | 2055-04-25      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA6009 FN 05/50 FIXED 3.5                    | CUSIP: 3140QDVB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     258614 | PA      | $240249.13     | 0.02%             | 2050-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 955224 FN 12/37 FIXED 6.5                    | CUSIP: 31413TVR0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      64432 | PA      | $67968.23      | 0.01%             | 2037-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080387 G2 03/30 FLOATING VAR              | CUSIP: 36225CND4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       3972 | PA      | $3991.28       | 0.00%             | 2030-03-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05087 FG 01/37 FIXED 5              | CUSIP: 3128M66Y9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1925 | PA      | $1978.29       | 0.00%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 697572 GN 11/38 FIXED 5                      | CUSIP: 36296P6H9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     163850 | PA      | $167190.29     | 0.01%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL AZ9265 G2 05/47 FIXED 3.5                 | CUSIP: 36197NJJ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     406482 | PA      | $375237.60     | 0.03%             | 2047-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 852029 FN 01/36 FIXED 6                      | CUSIP: 31408HSS5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        631 | PA      | $656.21        | 0.00%             | 2036-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 809360 FN 02/35 FIXED 5.5                    | CUSIP: 31406GE96<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13803 | PA      | $14317.11      | 0.00%             | 2035-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL Q01708 FG 06/41 FIXED 5              | CUSIP: 3132GE3R9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13568 | PA      | $13756.46      | 0.00%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM7441 FN 05/51 FIXED VAR                    | CUSIP: 3140XBHT0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3007853 | PA      | $2664206.23    | 0.22%             | 2051-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04953 FG 09/38 FIXED 4.5            | CUSIP: 3128M6ZS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4418 | PA      | $4459.79       | 0.00%             | 2038-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080378 G2 02/30 FLOATING VAR              | CUSIP: 36225CM45<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        164 | PA      | $164.57        | 0.00%             | 2030-02-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 929896 FN 09/38 FIXED 6.5                    | CUSIP: 31412NC95<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      92451 | PA      | $97094.96      | 0.01%             | 2038-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA3359 FN 04/38 FIXED 3                      | CUSIP: 31418CWV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2428911 | PA      | $2299317.15    | 0.19%             | 2038-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 810728 FN 12/34 FIXED 6                      | CUSIP: 31406HVV6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      48703 | PA      | $49986.44      | 0.00%             | 2034-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2016-63                                         | FANNIE MAE FNR 2016 63 YI                              | CUSIP: 3136ATXU3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     163689 | PA      | $13400.84      | 0.00%             | 2046-04-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03240 FG 05/37 FIXED 5.5            | CUSIP: 3128M44Z3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       2646 | PA      | $2770.69       | 0.00%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 781042 FN 06/34 FIXED 5.5                    | CUSIP: 31404WWB8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20092 | PA      | $20385.74      | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 699666 GN 07/40 FIXED 5                      | CUSIP: 36296SJK2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      16063 | PA      | $16283.90      | 0.00%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BL1296 FN 02/26 FIXED 3.575                  | CUSIP: 3140HSNN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    9000000 | PA      | $8974552.50    | 0.76%             | 2026-02-01      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G02499 FG 12/36 FIXED 6.5            | CUSIP: 3128M4DC4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8404 | PA      | $8934.82       | 0.00%             | 2036-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G05774 FG 01/40 FIXED 5              | CUSIP: 3128M7XB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      64780 | PA      | $66727.61      | 0.01%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A84058 FG 01/39 FIXED 5.5            | CUSIP: 312930QK9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1598 | PA      | $1659.92       | 0.00%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 779445 FN 06/34 FIXED 5.5                    | CUSIP: 31404U5E6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      48550 | PA      | $49433.52      | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 482704 GN 08/28 FIXED 6.5                    | CUSIP: 36209VGM0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         79 | PA      | $81.59         | 0.00%             | 2028-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL MA4660 FN 07/42 FIXED 3                      | CUSIP: 31418EFA3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1604327 | PA      | $1498440.42    | 0.13%             | 2042-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AL0657 FN 08/41 FIXED VAR                    | CUSIP: 3138EGWT7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      44648 | PA      | $45938.94      | 0.00%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 891564 G2 10/58 FLOATING VAR              | CUSIP: 36208AZ61<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1047 | PA      | $1057.75       | 0.00%             | 2058-10-20      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 323044 FN 08/29 FLOATING VAR                 | CUSIP: 31374SZH7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        134 | PA      | $132.13        | 0.00%             | 2029-08-01      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL 786190 FH 07/27 FLOATING VAR         | CUSIP: 31348S2X1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        424 | PA      | $426.61        | 0.00%             | 2027-07-01      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CB3278 FN 04/52 FIXED 3                      | CUSIP: 3140QNUC4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3167197 | PA      | $2806402.90    | 0.24%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 759477 FN 02/34 FIXED 5.5                    | CUSIP: 31403VXE4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4496 | PA      | $4574.12       | 0.00%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 892558 FN 07/36 FIXED 6                      | CUSIP: 31410NTP3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7908 | PA      | $8343.83       | 0.00%             | 2036-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2002-21                                                | FANNIE MAE FNR 2002 21 FD                              | CUSIP: 31392CRD8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        392 | PA      | $393.63        | 0.00%             | 2032-04-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2503                                                  | FREDDIE MAC FHR 2503 PZ                                | CUSIP: 31392UMD3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9162 | PA      | $9546.13       | 0.00%             | 2032-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LOAN TRUST 2005-58                        | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2005 58 A1        | CUSIP: 12668AWH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     355574 | PA      | $339623.06     | 0.03%             | 2035-12-20      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G01974 FG 12/35 FIXED 5              | CUSIP: 3128LXFP0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      37293 | PA      | $38373.42      | 0.00%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2015-166                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2015 166 SA         | CUSIP: 38379FDK2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     383573 | PA      | $16967.44      | 0.00%             | 2042-06-20      | Floating      | 1.23%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE MORTGAGE CAP CERT 2007-3                            | CREDIT SUISSE MORTGAGE TRUST CSMC 2007 3 1A6A          | CUSIP: 12638PAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1707898 | PA      | $469914.19     | 0.04%             | 2037-04-25      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| ARGENT SECURITIES INC 2005-W2                                     | ARGENT SECURITIES INC. ARSI 2005 W2 M1                 | CUSIP: 040104ND9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     332938 | PA      | $331769.90     | 0.03%             | 2035-10-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 942463 FN 08/37 FIXED 6.5                    | CUSIP: 31413DQQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      24905 | PA      | $26183.23      | 0.00%             | 2037-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783363 GN 02/41 FIXED 5.5                    | CUSIP: 36241LWY8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       7802 | PA      | $8131.43       | 0.00%             | 2041-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II TBA 30 YR 5.5 JUMBOS                           | CUSIP: 21H052611<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   33500000 | PA      | $33830063.44   | 2.85%             | 2055-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G03132 FG 07/37 FIXED 5.5            | CUSIP: 3128M4Y56<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6543 | PA      | $6848.76       | 0.00%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL AE7017 GN 06/43 FIXED 3.5                    | CUSIP: 36181AYN6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2206701 | PA      | $2051061.39    | 0.17%             | 2043-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.27500 10/06/22-10Y LCH                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $333025.51     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                              | FNMA TBA 30 YR 6.5 SINGLE FAMILY MORTGAGE              | CUSIP: 01F062622<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -299700000 | PA      | $-311542348.80 | -26.24%           | 2056-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 440657 FN 10/28 FIXED 6.5                    | CUSIP: 31380HQJ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         15 | PA      | $15.37         | 0.00%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 313783 FN 05/36 FLOATING VAR                 | CUSIP: 31374GRC3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        990 | PA      | $980.40        | 0.00%             | 2036-05-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BH9574 FN 09/47 FIXED 3.5                    | CUSIP: 3140GYT82<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     675565 | PA      | $629126.97     | 0.05%             | 2047-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 844425 FN 12/35 FIXED 6                      | CUSIP: 31407YD63<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4795 | PA      | $5059.40       | 0.00%             | 2035-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2016-138                 | GOVERNMENT NATIONAL MORTGAGE A GNR 2016 138 WI         | CUSIP: 38376MCQ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     184047 | PA      | $7961.49       | 0.00%             | 2045-08-20      | Floating      | 0.87%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 004795 G2 09/40 FIXED 4                   | CUSIP: 36202FKG0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      71023 | PA      | $67570.88      | 0.01%             | 2040-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 3962                                           | FREDDIE MAC FHR 3962 KS                                | CUSIP: 3137AJKA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     221054 | PA      | $13372.79      | 0.00%             | 2038-06-15      | Floating      | 1.86%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 703814 FN 05/33 FIXED 5.5                    | CUSIP: 31401B3X1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      13931 | PA      | $14195.26      | 0.00%             | 2033-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A56993 FG 02/37 FIXED 5              | CUSIP: 3128KKXW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      61164 | PA      | $62031.57      | 0.01%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ARM LOAN TRUST 2004-8                                  | STRUCTURED ADJUSTABLE RATE MOR SARM 2004 8 3A          | CUSIP: 86359BWG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       8380 | PA      | $8162.70       | 0.00%             | 2034-07-25      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.26000 06/08/23-10Y LCH                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $261221.09     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AT7698 FN 06/43 FIXED 4                      | CUSIP: 3138WVRU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      61596 | PA      | $60223.44      | 0.01%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2005-9                                     | COUNTRYWIDE HOME LOANS CWHL 2005 9 1A3                 | CUSIP: 12669GZQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     329862 | PA      | $293790.26     | 0.02%             | 2035-05-25      | Floating      | 4.31%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 725237 FN 03/34 FIXED VAR                    | CUSIP: 31402CV66<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      28323 | PA      | $29427.69      | 0.00%             | 2034-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 003929 G2 12/36 FIXED 5                   | CUSIP: 36202ELJ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       9023 | PA      | $9266.46       | 0.00%             | 2036-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 784167 FN 06/34 FIXED 5.5                    | CUSIP: 31405BFG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       5733 | PA      | $5910.75       | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 080526 G2 07/31 FLOATING VAR              | CUSIP: 36225CSQ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6813 | PA      | $6851.96       | 0.00%             | 2031-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 783177 GN 09/40 FIXED 4.5                    | CUSIP: 36241LQ66<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      20110 | PA      | $20166.66      | 0.00%             | 2040-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 800747 FN 10/34 FIXED 5.5                    | CUSIP: 31405VTC1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      49697 | PA      | $50426.04      | 0.00%             | 2034-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 765853 FN 02/34 FIXED 5.5                    | CUSIP: 31404DZS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        533 | PA      | $541.00        | 0.00%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 820058 FN 05/35 FIXED 6                      | CUSIP: 31406UB31<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       8602 | PA      | $8910.96       | 0.00%             | 2035-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BM1931 FN 07/47 FIXED VAR                    | CUSIP: 3140J6ED5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     118314 | PA      | $121731.07     | 0.01%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 771130 FN 04/34 FIXED 5.5                    | CUSIP: 31404KVX7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      18395 | PA      | $18662.94      | 0.00%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL 002359 G2 01/27 FIXED 7                   | CUSIP: 36202CTQ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |         25 | PA      | $25.51         | 0.00%             | 2027-01-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FS0406 FN 02/47 FIXED VAR                    | CUSIP: 3140XFNY3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     832329 | PA      | $768629.30     | 0.06%             | 2047-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BD8968 FN 11/46 FIXED 3.5                    | CUSIP: 3140FG6E4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2330408 | PA      | $2199275.30    | 0.19%             | 2046-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL A46278 FG 07/35 FIXED 5              | CUSIP: 3128K66P0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      10708 | PA      | $11006.73      | 0.00%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RESIDENTIAL ACCREDIT LOANS 2006-QO5                               | RESIDENTIAL ACCREDIT LOANS, IN RALI 2006 QO5 3A4       | CUSIP: 75114HAK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     302669 | PA      | $235933.48     | 0.02%             | 2046-05-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 626938 GN 04/45 FIXED 4                      | CUSIP: 36291FPX0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     690207 | PA      | $676071.15     | 0.06%             | 2045-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                               | RFR USD SOFR/3.75000 06/20/24-10Y CME                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |          1 | NC      | $-21277.22     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BEAR STEARNS ASSET BACKED SECURITIES TRUST 2007-SD2               | BEAR STEARNS ASSET BACKED SECU BSABS 2007 SD2 2A1      | CUSIP: 07386UAM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     398340 | PA      | $387779.39     | 0.03%             | 2046-09-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 662065 GN 12/36 FIXED 6.5                    | CUSIP: 36294WQS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      15239 | PA      | $16073.45      | 0.00%             | 2036-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782889 GN 02/40 FIXED 5                      | CUSIP: 36241LF68<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      52517 | PA      | $54039.28      | 0.00%             | 2040-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2084                                                  | FREDDIE MAC FHR 2084 ZC                                | CUSIP: 3133TG5U9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4750 | PA      | $4845.79       | 0.00%             | 2028-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BK3275 G2 11/48 FIXED 4.5                 | CUSIP: 3617J3T84<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      40706 | PA      | $39538.02      | 0.00%             | 2048-11-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 357945 FN 09/35 FIXED 6                      | CUSIP: 31376KTA4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        107 | PA      | $109.93        | 0.00%             | 2035-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VENTURE 36 CLO LTD                                                | VENTURE CDO LTD VENTR 2019 36A A1AR 144A               | CUSIP: 92332LAU3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2226009 | PA      | $2227513.53    | 0.19%             | 2032-04-20      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA7589 G2 09/51 FIXED 2.5                 | CUSIP: 36179WNE4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   32408025 | PA      | $27989444.96   | 2.36%             | 2051-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTG INV INC 2005-AR2                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2005 AR2 2A1       | CUSIP: 86359LJA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     367120 | PA      | $352562.62     | 0.03%             | 2045-05-25      | Floating      | 4.31%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 872277 FN 05/36 FIXED 6                      | CUSIP: 31409JCN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        765 | PA      | $792.83        | 0.00%             | 2036-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G30450 FG 01/29 FIXED 6              | CUSIP: 3128CUQB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        505 | PA      | $518.63        | 0.00%             | 2029-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 434239 GN 03/29 FIXED 6.5                    | CUSIP: 36207KLU2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        351 | PA      | $362.46        | 0.00%             | 2029-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL MA1447 G2 11/43 FIXED 3                   | CUSIP: 36179NTC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     683769 | PA      | $631072.74     | 0.05%             | 2043-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL FM0076 FN 03/50 FIXED VAR                    | CUSIP: 3140X3CN6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    3071682 | PA      | $2765433.72    | 0.23%             | 2050-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 535078 FN 02/29 FIXED VAR                    | CUSIP: 31384VM33<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        233 | PA      | $241.70        | 0.00%             | 2029-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 844214 FN 11/35 FLOATING VAR                 | CUSIP: 31407X3X7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      51836 | PA      | $52639.88      | 0.00%             | 2035-11-01      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 782333 GN 06/38 FIXED 5.5                    | CUSIP: 36241KSW9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      70606 | PA      | $74221.57      | 0.01%             | 2038-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 907337 FN 03/37 FIXED 6                      | CUSIP: 31411GBE1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       4838 | PA      | $5008.16       | 0.00%             | 2037-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 535533 FN 10/30 FIXED VAR                    | CUSIP: 31384V4S8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       1877 | PA      | $1961.67       | 0.00%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTG INV INC 2005-AR5                             | STRUCTURED ASSET MORTGAGE INVE SAMI 2005 AR5 A2        | CUSIP: 86359LPE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      77749 | PA      | $77686.64      | 0.01%             | 2035-07-19      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL BY1512 FN 06/53 FIXED 5                      | CUSIP: 3140NHVE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     158686 | PA      | $160646.78     | 0.01%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL AJ3615 FN 11/41 FIXED 4                      | CUSIP: 3138AVAR6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      82216 | PA      | $80512.36      | 0.01%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA POOL 617332 GN 12/36 FIXED 6.5                    | CUSIP: 36290TY52<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        861 | PA      | $909.55        | 0.00%             | 2036-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CENTEX HOME EQUITY 2002-A                                         | CENTEX HOME EQUITY CXHE 2002 A AV                      | CUSIP: 152314EQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      28721 | PA      | $28625.30      | 0.00%             | 2032-01-25      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                             | FED HM LN PC POOL G04631 FG 01/30 FIXED 6              | CUSIP: 3128M6PQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       6094 | PA      | $6260.97       | 0.00%             | 2030-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 555528 FN 04/33 FIXED VAR                    | CUSIP: 31385XD95<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      39057 | PA      | $40448.74      | 0.00%             | 2033-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA PASS THRU POOLS                                              | GNMA II POOL BG2154 G2 03/48 FIXED 4                   | CUSIP: 3617GLMB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     214966 | PA      | $209928.69     | 0.02%             | 2048-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL 890299 FN 07/40 FIXED VAR                    | CUSIP: 31410LDC3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      44831 | PA      | $47441.83      | 0.00%             | 2040-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2319                                                  | FREDDIE MAC FHR 2319 PZ                                | CUSIP: 3133TT4X6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      36337 | PA      | $37970.17      | 0.00%             | 2031-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA PASS THRU POOLS                                              | FNMA POOL CA4543 FN 11/49 FIXED 3                      | CUSIP: 3140QCBM7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1460287 | PA      | $1328803.09    | 0.11%             | 2049-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

**Name of Applicant:** PIMCO Funds

**Signature:** /s/ Bijal Parikh

**Name of Signer:** Bijal Parikh

**Title:** Treasurer