# EDGAR Filing Document

**Accession Number:** 0001450011
**File Stem:** 0001099263-26-007303
**Filing Date:** 2026-5
**Character Count:** 1984902
**Document Hash:** 2a58c12baa52ad8a3ad35f4c740cf8a3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-007303.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001099263-26-007303

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PIMCO ETF Trust
- **CENTRAL INDEX KEY:** 0001450011

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22250
- **FILM NUMBER:** 261043617

**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 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund (Series ID: S000026750)

| Class ID   | Class Name                                                          | Ticker Symbol   |
|:---|:---|:---|
| C000080240 | PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund | ZROZ            |

## Nport-Ex

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund March 31, 2026 (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 101.5% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 1.6%**  |  |  |
| **Bausch Health Cos., Inc.**<br>9.918% (TSFR1M + 6.250%) due 10/08/2030 ~ | $4030 | $3900 |
| **Central Parent, Inc.**<br>6.950% (TSFR3M + 3.250%) due 07/06/2029 ~ | 1784 | 1278 |
| **Cotiviti Corp.**<br>7.625% due 05/01/2031 ~ | 2850 | 2665 |
| **Envision Healthcare Corp.**  |  |  |
| 11.641% (TSFR3M + 7.875%) due 07/20/2026 «~ | 649 | 649 |
| 11.641% (TSFR3M + 7.875%) due 11/03/2028 «~ | 2505 | 2580 |
| **Finastra USA, Inc.**<br>7.671% (TSFR3M + 4.000%) due 09/15/2032 ~ | 1875 | 1765 |
| **Ineos U.S. Finance LLC**<br>6.668% (TSFR1M + 3.000%) due 02/07/2031 ~ | 748 | 648 |
| **MPH Acquisition Holdings LLC**<br>8.528% (TSFR3M + 4.600%) due 12/31/2030 ~ | 1436 | 1278 |
| **Newfold Digital Holdings Group, Inc.**  |  |  |
| 7.269% - 9.442% (TSFR1M + 3.500%) due 04/30/2029 ~ | 600 | 354 |
| 7.269% - 9.442% (TSFR3M + 5.750%) due 04/30/2029 «~ | 254 | 193 |
| **Paradigm Parent LLC**<br>8.200% (TSFR3M + 4.500%) due 04/16/2032 ~ | 448 | 372 |
| **Peraton Corp.**<br>7.517% (TSFR3M + 3.750%) due 02/01/2028 ~ | 3494 | 2990 |
| **Spirit Airlines, Inc.**  |  |  |
| TBD% due 07/14/2026 «~ | 2528 | 1368 |
| TBD% (TSFR1M + 8.000%) due 07/14/2026 ~ | 227 | 224 |
| TBD% due 07/14/2026 ~ | 295 | 292 |
| **U.S. Renal Care, Inc.**<br>8.782% (TSFR1M + 5.000%) due 06/28/2028 ~ | 3748 | 3540 |
| **Zayo Group Holdings, Inc. (6.782% Cash and 0.500% PIK)**<br>7.282% (TSFR1M + 0.500%) due 03/11/2030 ~(b) | 833 | 820 |
| Total Loan Participations and Assignments (Cost $25,964) |  | 24916 |
| **CORPORATE BONDS & NOTES 92.5%**  |  |  |
| **BANKING & FINANCE 15.8%**  |  |  |
| **Acrisure LLC/Acrisure Finance, Inc.**  |  |  |
| 4.250% due 02/15/2029  | 1221 | 1153 |
| 6.000% due 08/01/2029  | 1425 | 1340 |
| 8.250% due 02/01/2029  | 2726 | 2697 |
| 8.500% due 06/15/2029  | 1840 | 1824 |
| **Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer**  |  |  |
| 4.250% due 10/15/2027  | 1483 | 1455 |
| 5.875% due 11/01/2029  | 2007 | 1943 |
| 6.750% due 10/15/2027  | 3387 | 3387 |
| 6.750% due 04/15/2028  | 3872 | 3895 |
| **Allied Universal Holdco LLC/Allied Universal Finance Corp.** <br>6.875% due 06/15/2030 | 1075 | 1091 |
| **Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL** <br>4.625% due 06/01/2028 | 6260 | 6118 |
| **AmWINS Group, Inc.** <br>6.375% due 02/15/2029 | 1591 | 1601 |
| **Ardonagh Finco Ltd.** <br>7.750% due 02/15/2031 | 900 | 911 |
| **Armor Holdco, Inc.** <br>8.500% due 11/15/2029 | 2187 | 1999 |
| **Asurion LLC/Asurion Co-Issuer, Inc.**  |  |  |
| 8.000% due 12/31/2032  | 1655 | 1718 |
| 8.375% due 02/01/2034  | 1825 | 1773 |
| **Black Pearl Compute LLC** <br>6.125% due 02/15/2031 | 2274 | 2317 |
| **Brandywine Operating Partnership LP**  |  |  |
| 3.950% due 11/15/2027  | 320 | 307 |
| 8.875% due 04/12/2029  | 2788 | 2833 |
| **Bread Financial Holdings, Inc.** <br>6.750% due 05/15/2031 | 1175 | 1167 |
| **Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC**  |  |  |
| 4.500% due 04/01/2027  | 3444 | 3381 |
| 5.750% due 05/15/2026  | 1280 | 1279 |
| **Burford Capital Global Finance LLC**  |  |  |
| 6.250% due 04/15/2028  | 3880 | 3654 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.875% due 04/15/2030  | 1573 | 1390 |
| **Coinbase Global, Inc.** <br>3.375% due 10/01/2028 | 5148 | 4823 |
| **CoreLogic, Inc.** <br>4.500% due 05/01/2028 | 1394 | 1310 |
| **Credit Acceptance Corp.** <br>6.625% due 03/15/2030 | 437 | 428 |
| **CrossCountry Intermediate HoldCo LLC** <br>6.500% due 10/01/2030 | 1225 | 1169 |
| **Diversified Healthcare Trust**  |  |  |
| 4.375% due 03/01/2031  | 3007 | 2675 |
| 4.750% due 02/15/2028  | 1866 | 1795 |
| 7.250% due 10/15/2030  | 1723 | 1740 |
| **EF Holdco/EF Cayman Holdings/Ellington Financial REIT Cayman/TRS/EF Cayman Non-MTM** <br>7.375% due 09/30/2030 | 1325 | 1278 |
| **Encore Capital Group, Inc.** <br>8.500% due 05/15/2030 | 1977 | 2092 |
| **Ford Motor Credit Co. LLC** <br>5.918% due 03/20/2028 | 150 | 152 |
| **Freedom Mortgage Corp.**  |  |  |
| 6.625% due 01/15/2027  | 1851 | 1850 |
| 12.250% due 10/01/2030  | 675 | 729 |
| **Freedom Mortgage Holdings LLC**  |  |  |
| 6.875% due 05/01/2031  | 1523 | 1425 |
| 7.875% due 04/01/2033  | 1300 | 1220 |
| 9.250% due 02/01/2029  | 2055 | 2084 |
| **FTAI Aviation Investors LLC** <br>5.500% due 05/01/2028 | 3436 | 3438 |
| **Getty Images, Inc.** <br>11.250% due 02/21/2030 | 1250 | 1127 |
| **GGAM Finance Ltd.**  |  |  |
| 8.000% due 02/15/2027  | 941 | 951 |
| 8.000% due 06/15/2028  | 613 | 637 |
| **Global Net Lease, Inc./Global Net Lease Operating Partnership LP** <br>3.750% due 12/15/2027 | 3224 | 3126 |
| **Howard Hughes Corp.** <br>5.875% due 03/01/2032 | 875 | 843 |
| **HPS Corporate Lending Fund** <br>5.650% due 04/02/2031 | 135 | 130 |
| **HUB International Ltd.**  |  |  |
| 5.625% due 12/01/2029  | 3388 | 3289 |
| 7.250% due 06/15/2030  | 2151 | 2205 |
| **Hudson Pacific Properties LP**  |  |  |
| 3.950% due 11/01/2027  | 3242 | 3062 |
| 4.650% due 04/01/2029 (g)  | 778 | 665 |
| 5.950% due 02/15/2028  | 1294 | 1229 |
| **Icahn Enterprises LP/Icahn Enterprises Finance Corp.**  |  |  |
| 4.375% due 02/01/2029  | 1472 | 1258 |
| 5.250% due 05/15/2027  | 4938 | 4843 |
| 9.750% due 01/15/2029  | 48 | 47 |
| 10.000% due 11/15/2029  | 2942 | 2902 |
| **Iliad Holding SAS** <br>7.000% due 10/15/2028 | 1023 | 1030 |
| **ION Platform Finance U.S., Inc./ION Platform Finance SARL**  |  |  |
| 4.625% due 05/01/2028  | 807 | 753 |
| 5.750% due 05/15/2028  | 3023 | 2876 |
| 8.750% due 05/01/2029  | 1705 | 1587 |
| 9.000% due 08/01/2029  | 3350 | 3109 |
| 9.500% due 05/30/2029  | 1466 | 1382 |
| **Iron Mountain, Inc.**  |  |  |
| 4.500% due 02/15/2031  | 1025 | 963 |
| 4.875% due 09/15/2027  | 2588 | 2585 |
| 4.875% due 09/15/2029  | 1850 | 1801 |
| 5.000% due 07/15/2028  | 1031 | 1021 |
| 5.250% due 03/15/2028  | 2225 | 2216 |
| 7.000% due 02/15/2029  | 1225 | 1249 |
| **Jane Street Group/JSG Finance, Inc.** <br>4.500% due 11/15/2029 | 1615 | 1566 |
| **Jefferies Finance LLC/JFIN Co-Issuer Corp.** <br>5.000% due 08/15/2028 | 2526 | 2356 |
| **Jefferson Capital Holdings LLC**  |  |  |
| 6.000% due 08/15/2026  | 743 | 744 |
| 9.500% due 02/15/2029  | 1858 | 1951 |
| **Kennedy-Wilson, Inc.** <br>4.750% due 03/01/2029 | 3653 | 3603 |
| **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.** <br>4.250% due 02/01/2027 | 1715 | 1695 |
| **LD Holdings Group LLC** <br>8.750% due 11/01/2027 | 273 | 257 |
| **Liberty Mutual Group, Inc.** <br>4.125% due 12/15/2051 •  | 4474 | 4372 |
| **Midcap Financial Issuer Trust** <br>6.500% due 05/01/2028 | 992 | 964 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Millrose Properties, Inc.** <br>6.375% due 08/01/2030 | 2685 | 2686 |
| **Navient Corp.**  |  |  |
| 4.875% due 03/15/2028  | 1967 | 1858 |
| 5.000% due 03/15/2027  | 1846 | 1806 |
| 5.500% due 03/15/2029  | 1318 | 1209 |
| 6.750% due 06/15/2026  | 1919 | 1925 |
| **NCL Finance Ltd.** <br>6.125% due 03/15/2028 | 789 | 796 |
| **Newmark Group, Inc.** <br>7.500% due 01/12/2029 | 1003 | 1052 |
| **Nissan Motor Acceptance Co. LLC**  |  |  |
| 1.850% due 09/16/2026  | 2597 | 2554 |
| 2.750% due 03/09/2028  | 2722 | 2547 |
| 5.300% due 09/13/2027  | 518 | 515 |
| 5.625% due 09/29/2028  | 2501 | 2456 |
| 5.698% (SOFRINDX + 2.050%) due 09/13/2027 ~  | 525 | 521 |
| 6.125% due 09/30/2030  | 1648 | 1585 |
| 6.950% due 09/15/2026  | 731 | 735 |
| 7.050% due 09/15/2028  | 1979 | 2011 |
| **OneMain Finance Corp.**  |  |  |
| 3.500% due 01/15/2027  | 7304 | 7171 |
| 3.875% due 09/15/2028  | 968 | 921 |
| 5.375% due 11/15/2029  | 3184 | 3073 |
| 6.625% due 01/15/2028  | 1894 | 1908 |
| 6.625% due 05/15/2029  | 1657 | 1661 |
| **Oxford Finance LLC/Oxford Finance Co-Issuer II, Inc.** <br>6.375% due 02/01/2027 | 1910 | 1894 |
| **Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer**  |  |  |
| 4.875% due 05/15/2029  | 2704 | 2597 |
| 5.875% due 10/01/2028  | 1558 | 1552 |
| **Pebblebrook Hotel LP/PEB Finance Corp.** <br>6.375% due 10/15/2029 | 2543 | 2550 |
| **PennyMac Financial Services, Inc.**  |  |  |
| 4.250% due 02/15/2029  | 1442 | 1368 |
| 7.875% due 12/15/2029  | 2037 | 2085 |
| **Popular, Inc.** <br>7.250% due 03/13/2028 | 1793 | 1859 |
| **PRA Group, Inc.**  |  |  |
| 8.375% due 02/01/2028  | 2527 | 2546 |
| 8.875% due 01/31/2030  | 309 | 312 |
| **Provident Funding Associates LP/PFG Finance Corp.** <br>9.750% due 09/15/2029 | 568 | 584 |
| **Rfna LP** <br>7.875% due 02/15/2030 | 144 | 138 |
| **RHP Hotel Properties LP/RHP Finance Corp.** <br>7.250% due 07/15/2028 | 1796 | 1835 |
| **RLJ Lodging Trust LP**  |  |  |
| 3.750% due 07/01/2026  | 1721 | 1714 |
| 4.000% due 09/15/2029  | 2617 | 2453 |
| **Rocket Cos., Inc.**  |  |  |
| 6.125% due 08/01/2030  | 1400 | 1414 |
| 6.500% due 08/01/2029  | 3870 | 3918 |
| **Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.**  |  |  |
| 2.875% due 10/15/2026  | 3689 | 3651 |
| 3.625% due 03/01/2029  | 830 | 786 |
| **SBA Communications Corp.**  |  |  |
| 3.125% due 02/01/2029  | 2334 | 2213 |
| 3.875% due 02/15/2027  | 3580 | 3546 |
| **Service Properties Trust**  |  |  |
| 0.000% due 09/30/2028 (e)  | 3233 | 2945 |
| 5.500% due 12/15/2027  | 2268 | 2273 |
| **SLM Corp.** <br>3.125% due 11/02/2026 | 3633 | 3602 |
| **Starwood Property Trust, Inc.**  |  |  |
| 3.625% due 07/15/2026  | 1171 | 1164 |
| 4.375% due 01/15/2027  | 383 | 381 |
| 5.250% due 10/15/2028  | 900 | 890 |
| 5.750% due 01/15/2031  | 2151 | 2127 |
| 6.500% due 07/01/2030  | 1210 | 1236 |
| 6.500% due 10/15/2030  | 710 | 721 |
| 7.250% due 04/01/2029  | 1543 | 1591 |
| **United Wholesale Mortgage LLC** <br>5.750% due 06/15/2027 | 800 | 788 |
| **Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC** <br>6.000% due 01/15/2030 (g) | 3375 | 3178 |
| **UWM Holdings LLC** <br>6.250% due 03/15/2031 | 4684 | 4270 |
| **Vornado Realty LP** <br>2.150% due 06/01/2026 | 1343 | 1336 |
| **Voyager Aviation Holdings LLC** <br>8.500% due 05/09/2026 ^«(c) | 510 | 0 |
| **WULF Compute LLC** <br>7.750% due 10/15/2030 | 4220 | 4462 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **XHR LP**  |  |  |
| 4.875% due 06/01/2029  | 635 | 616 |
| 6.625% due 05/15/2030  | 914 | 924 |
|  |  | 252344 |
| **INDUSTRIALS 71.2%**  |  |  |
| **1011778 BC ULC/New Red Finance, Inc.**  |  |  |
| 3.500% due 02/15/2029  | 1427 | 1363 |
| 3.875% due 01/15/2028  | 1425 | 1394 |
| 4.000% due 10/15/2030  | 1819 | 1711 |
| 4.375% due 01/15/2028  | 4538 | 4478 |
| 6.125% due 06/15/2029  | 1525 | 1551 |
| **1261229 BC Ltd.** <br>10.000% due 04/15/2032 | 3516 | 3603 |
| **AAR Escrow Issuer LLC** <br>6.750% due 03/15/2029 | 413 | 421 |
| **Academy Ltd.** <br>6.000% due 11/15/2027 | 800 | 803 |
| **Acadia Healthcare Co., Inc.** <br>5.500% due 07/01/2028 | 4850 | 4833 |
| **Accendra Health, Inc.** <br>4.500% due 03/31/2029 (g) | 1573 | 951 |
| **AdaptHealth LLC** <br>6.125% due 08/01/2028 | 1878 | 1875 |
| **ADT Security Corp.** <br>4.125% due 08/01/2029 | 1524 | 1457 |
| **Advance Auto Parts, Inc.** <br>7.000% due 08/01/2030 | 3844 | 3897 |
| **Advanced Drainage Systems, Inc.** <br>5.375% due 03/01/2034 | 754 | 736 |
| **Advantage Sales & Marketing, Inc.** <br>9.000% due 11/15/2030 | 846 | 631 |
| **Ahead DB Holdings LLC** <br>6.625% due 05/01/2028 | 3647 | 3571 |
| **Ahlstrom Holding 3 OYJ** <br>4.875% due 02/04/2028 | 1173 | 1147 |
| **Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC** <br>3.500% due 03/15/2029 | 2117 | 2021 |
| **Albion Financing 1 SARL/Aggreko Holdings, Inc.** <br>7.000% due 05/21/2030 | 6006 | 6143 |
| **Allison Transmission, Inc.** <br>4.750% due 10/01/2027 | 1236 | 1229 |
| **Alta Equipment Group, Inc.** <br>9.000% due 06/01/2029 (g) | 2360 | 2103 |
| **Altice France Lux 3/Altice Holdings 1** <br>10.000% due 01/15/2033 | 637 | 580 |
| **Altice France SA**  |  |  |
| 6.875% due 10/15/2030  | 2236 | 2141 |
| 9.500% due 11/01/2029  | 4228 | 4275 |
| **Alumina Pty. Ltd.** <br>6.125% due 03/15/2030 | 1471 | 1502 |
| **AMC Networks, Inc.** <br>10.500% due 07/15/2032 | 1447 | 1430 |
| **American Airlines, Inc./AAdvantage Loyalty IP Ltd.**  |  |  |
| 5.500% due 04/20/2026  | 514 | 514 |
| 5.750% due 04/20/2029  | 10554 | 10503 |
| **American Axle & Manufacturing, Inc.** <br>5.000% due 10/01/2029 | 909 | 868 |
| **American Builders & Contractors Supply Co., Inc.**  |  |  |
| 3.875% due 11/15/2029  | 3496 | 3317 |
| 4.000% due 01/15/2028  | 2318 | 2276 |
| **ams-OSRAM AG** <br>12.250% due 03/30/2029 | 1885 | 2007 |
| **APLD ComputeCo 2 LLC** <br>6.750% due 03/15/2031 | 4341 | 4312 |
| **APLD ComputeCo LLC** <br>9.250% due 12/15/2030 | 1050 | 1083 |
| **Aramark Services, Inc.** <br>5.000% due 02/01/2028 | 2321 | 2309 |
| **Arcosa, Inc.** <br>4.375% due 04/15/2029 | 615 | 594 |
| **Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC**  |  |  |
| 3.250% due 09/01/2028  | 1882 | 1791 |
| 4.000% due 09/01/2029  | 850 | 779 |
| **Asbury Automotive Group, Inc.** <br>4.500% due 03/01/2028 | 450 | 442 |
| **Ascent Resources Utica Holdings LLC/ARU Finance Corp.** <br>5.875% due 06/30/2029 | 1524 | 1523 |
| **Ashton Woods USA LLC/Ashton Woods Finance Co.** <br>4.625% due 08/01/2029 | 2268 | 2145 |
| **Aston Martin Capital Holdings Ltd.** <br>10.000% due 03/31/2029 | 3870 | 2915 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **AthenaHealth Group, Inc.** <br>6.500% due 02/15/2030 | 6010 | 5648 |
| **ATS Corp.** <br>4.125% due 12/15/2028 | 2357 | 2273 |
| **Avantor Funding, Inc.**  |  |  |
| 3.875% due 11/01/2029  | 2096 | 1968 |
| 4.625% due 07/15/2028  | 2807 | 2741 |
| **Avis Budget Car Rental LLC/Avis Budget Finance, Inc.**  |  |  |
| 4.750% due 04/01/2028  | 3858 | 3767 |
| 5.375% due 03/01/2029 (g)  | 1123 | 1075 |
| 5.750% due 07/15/2027  | 2303 | 2297 |
| **Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV** <br>4.750% due 06/15/2027 | 1338 | 1330 |
| **Axon Enterprise, Inc.** <br>6.125% due 03/15/2030 | 1317 | 1342 |
| **B&G Foods, Inc.** <br>8.000% due 09/15/2028 | 2077 | 2048 |
| **Ball Corp.** <br>2.875% due 08/15/2030 | 1318 | 1200 |
| **Bath & Body Works, Inc.**  |  |  |
| 6.694% due 01/15/2027  | 495 | 505 |
| 7.500% due 06/15/2029  | 749 | 759 |
| **Bausch & Lomb Corp.** <br>8.375% due 10/01/2028 | 3029 | 3131 |
| **Bausch Health Americas, Inc.** <br>8.500% due 01/31/2027 (g) | 1175 | 1165 |
| **Bausch Health Cos., Inc.**  |  |  |
| 4.875% due 06/01/2028  | 1133 | 1038 |
| 5.000% due 01/30/2028  | 1637 | 1385 |
| 5.000% due 02/15/2029  | 1546 | 1128 |
| 6.250% due 02/15/2029  | 1379 | 1036 |
| 11.000% due 09/30/2028  | 797 | 814 |
| **Beach Acquisition Bidco LLC (10.000% Cash or 10.750% PIK)** <br>10.000% due 07/15/2033 (b) | 1768 | 1884 |
| **Beacon Mobility Corp.** <br>7.250% due 08/01/2030 | 1514 | 1565 |
| **Beazer Homes USA, Inc.** <br>7.500% due 03/15/2031 | 703 | 691 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 5619 | 5782 |
| **Belron U.K. Finance PLC** <br>5.750% due 10/15/2029 | 1783 | 1795 |
| **BKV Upstream Midstream LLC** <br>7.500% due 10/15/2030 | 3126 | 3162 |
| **Blackstone Mortgage Trust, Inc.**  |  |  |
| 3.750% due 01/15/2027  | 401 | 394 |
| 7.750% due 12/01/2029  | 1813 | 1906 |
| **Block, Inc.**  |  |  |
| 2.750% due 06/01/2026  | 3204 | 3191 |
| 5.625% due 08/15/2030  | 1425 | 1418 |
| **Borr IHC Ltd. / Borr Finance LLC** <br>10.000% due 11/15/2028 | 1046 | 1073 |
| **Boyd Gaming Corp.** <br>4.750% due 12/01/2027 | 1545 | 1530 |
| **Brand Industrial Services, Inc.** <br>10.375% due 08/01/2030 | 1878 | 1719 |
| **Brink's Co.** <br>4.625% due 10/15/2027 | 1842 | 1819 |
| **Buckeye Partners LP** <br>3.950% due 12/01/2026 | 2017 | 1998 |
| **BWX Technologies, Inc.** <br>4.125% due 06/30/2028 | 2076 | 2020 |
| **Caesars Entertainment, Inc.**  |  |  |
| 6.500% due 02/15/2032  | 375 | 371 |
| 7.000% due 02/15/2030  | 875 | 886 |
| **Calderys Financing LLC** <br>11.250% due 06/01/2028 | 300 | 311 |
| **Camelot Return Merger Sub, Inc.** <br>8.750% due 08/01/2028 (g) | 1978 | 1176 |
| **Capstone Borrower, Inc.** <br>8.000% due 06/15/2030 | 1495 | 1430 |
| **Capstone Copper Corp.** <br>6.750% due 03/31/2033 | 1465 | 1457 |
| **Carnival Corp.** <br>5.125% due 05/01/2029 | 2818 | 2799 |
| **Carvana Co.** <br>9.000% due 06/01/2030 | 1100 | 1145 |
| **CCO Holdings LLC/CCO Holdings Capital Corp.**  |  |  |
| 4.250% due 02/01/2031  | 3395 | 3097 |
| 4.500% due 08/15/2030  | 1444 | 1350 |
| 4.750% due 03/01/2030  | 3893 | 3696 |
| 4.750% due 02/01/2032  | 987 | 893 |
| 5.000% due 02/01/2028  | 4862 | 4825 |
| 5.125% due 05/01/2027  | 1843 | 1842 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.375% due 06/01/2029  | 2447 | 2415 |
| **Celanese U.S. Holdings LLC**  |  |  |
| 1.400% due 08/05/2026  | 2818 | 2779 |
| 6.500% due 04/15/2030  | 1072 | 1095 |
| 6.850% due 11/15/2028  | 2491 | 2592 |
| 7.000% due 02/15/2031  | 2129 | 2188 |
| **Centene Corp.**  |  |  |
| 2.450% due 07/15/2028  | 2957 | 2756 |
| 4.250% due 12/15/2027  | 231 | 227 |
| **Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.** <br>8.000% due 06/15/2029 | 2169 | 1614 |
| **Central Parent, Inc./CDK Global, Inc.** <br>7.250% due 06/15/2029 | 4476 | 3226 |
| **Cerdia Finanz GmbH** <br>9.375% due 10/03/2031 | 4450 | 4430 |
| **Champion Iron Canada, Inc.** <br>7.875% due 07/15/2032 | 700 | 728 |
| **Champions Financing, Inc.** <br>8.750% due 02/15/2029 (g) | 1966 | 1765 |
| **Charles River Laboratories International, Inc.** <br>3.750% due 03/15/2029 | 369 | 350 |
| **Chemours Co.** <br>4.625% due 11/15/2029 | 1100 | 1033 |
| **Chobani LLC/Chobani Finance Corp., Inc.**  |  |  |
| 4.625% due 11/15/2028  | 1192 | 1173 |
| 7.625% due 07/01/2029  | 815 | 834 |
| **Chord Energy Corp.** <br>6.000% due 10/01/2030 | 1586 | 1608 |
| **CHS/Community Health Systems, Inc.**  |  |  |
| 4.750% due 02/15/2031  | 1698 | 1566 |
| 5.250% due 05/15/2030  | 2798 | 2639 |
| 6.000% due 01/15/2029  | 1974 | 1953 |
| 6.125% due 04/01/2030  | 1652 | 1438 |
| 6.875% due 04/15/2029  | 4125 | 3971 |
| **Churchill Downs, Inc.**  |  |  |
| 4.750% due 01/15/2028  | 4049 | 3997 |
| 5.500% due 04/01/2027  | 1846 | 1845 |
| 5.750% due 04/01/2030  | 1000 | 989 |
| **Cinemark USA, Inc.** <br>5.250% due 07/15/2028 | 1634 | 1621 |
| **Cipher Compute LLC** <br>7.125% due 11/15/2030 | 2007 | 2082 |
| **CITGO Petroleum Corp.** <br>8.375% due 01/15/2029 | 2841 | 2936 |
| **Clarivate Science Holdings Corp.** <br>4.875% due 07/01/2029 | 3974 | 3453 |
| **Clear Channel Outdoor Holdings, Inc.**  |  |  |
| 7.500% due 06/01/2029 (g)  | 4534 | 4556 |
| 7.750% due 04/15/2028  | 2128 | 2140 |
| 7.875% due 04/01/2030  | 205 | 215 |
| **Cleveland-Cliffs, Inc.**  |  |  |
| 4.625% due 03/01/2029  | 1057 | 1009 |
| 6.750% due 04/15/2030  | 900 | 879 |
| 6.875% due 11/01/2029  | 1779 | 1780 |
| **Cloud Software Group, Inc.**  |  |  |
| 6.500% due 03/31/2029  | 9813 | 9583 |
| 9.000% due 09/30/2029  | 6876 | 6640 |
| **Clydesdale Acquisition Holdings, Inc.**  |  |  |
| 6.625% due 04/15/2029  | 875 | 860 |
| 8.750% due 04/15/2030  | 4391 | 4101 |
| **CMG Media Corp.** <br>8.875% due 06/18/2029 | 1034 | 899 |
| **CNX Midstream Partners LP** <br>4.750% due 04/15/2030 | 1988 | 1891 |
| **Cogent Communications Group LLC/Cogent Finance, Inc.**  |  |  |
| 6.500% due 07/01/2032 (g)  | 2853 | 2491 |
| 7.000% due 06/15/2027 (g)  | 2866 | 2837 |
| 7.000% due 06/15/2027  | 1633 | 1614 |
| **Coherent Corp.** <br>5.000% due 12/15/2029 | 2200 | 2160 |
| **Columbus McKinnon Corp.** <br>7.125% due 02/01/2033 | 1158 | 1159 |
| **Compass Minerals International, Inc.** <br>8.000% due 07/01/2030 | 1748 | 1810 |
| **Comstock Resources, Inc.**  |  |  |
| 5.875% due 01/15/2030  | 2026 | 1963 |
| 6.750% due 03/01/2029  | 6145 | 6074 |
| **Connect Finco SARL/Connect U.S. Finco LLC** <br>9.000% due 09/15/2029 | 4134 | 4348 |
| **Constellium SE** <br>3.750% due 04/15/2029 | 825 | 787 |
| **CoreWeave, Inc.**  |  |  |
| 9.000% due 02/01/2031  | 2793 | 2661 |
| 9.250% due 06/01/2030  | 6225 | 6055 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CP Atlas Buyer, Inc.** <br>9.750% due 07/15/2030 | 1116 | 1048 |
| **CQP Holdco LP/BIP-V Chinook Holdco LLC** <br>5.500% due 06/15/2031 | 674 | 658 |
| **Crescent Energy Finance LLC** <br>7.875% due 04/15/2032 | 812 | 830 |
| **Crocs, Inc.** <br>4.250% due 03/15/2029 | 2197 | 2110 |
| **Crowdstrike Holdings, Inc.** <br>3.000% due 02/15/2029 | 1567 | 1492 |
| **Crown Americas LLC/Crown Americas Capital Corp. V** <br>4.250% due 09/30/2026 | 823 | 820 |
| **CSC Holdings LLC**  |  |  |
| 4.125% due 12/01/2030  | 1175 | 706 |
| 4.625% due 12/01/2030  | 2804 | 993 |
| 5.375% due 02/01/2028  | 1729 | 1281 |
| 5.500% due 04/15/2027  | 3277 | 2846 |
| 5.750% due 01/15/2030  | 7342 | 2795 |
| 6.500% due 02/01/2029  | 3590 | 2292 |
| 7.500% due 04/01/2028 (g)  | 1872 | 1032 |
| 11.250% due 05/15/2028  | 1478 | 1209 |
| 11.750% due 01/31/2029  | 3410 | 2468 |
| **CVR Energy, Inc.** <br>7.500% due 02/15/2031 | 750 | 756 |
| **CVR Partners LP/CVR Nitrogen Finance Corp.** <br>6.125% due 06/15/2028 | 1268 | 1264 |
| **CVS Health Corp.** <br>7.000% due 03/10/2055 •  | 5372 | 5540 |
| **Cyprium Corp./Cyprium Holdings Luxembourg SARL** <br>6.125% due 04/15/2031 | 1640 | 1621 |
| **Darling Ingredients, Inc.** <br>5.250% due 04/15/2027 | 725 | 726 |
| **DaVita, Inc.** <br>4.625% due 06/01/2030 | 2843 | 2735 |
| **Dcli Bidco LLC** <br>7.750% due 11/15/2029 | 1851 | 1873 |
| **Delek Logistics Partners LP/Delek Logistics Finance Corp.**  |  |  |
| 7.125% due 06/01/2028  | 1099 | 1102 |
| 8.625% due 03/15/2029  | 966 | 1000 |
| **Deluxe Corp.**  |  |  |
| 8.000% due 06/01/2029  | 1485 | 1496 |
| 8.125% due 09/15/2029  | 2572 | 2673 |
| **Diebold Nixdorf, Inc.** <br>7.750% due 03/31/2030 | 1368 | 1426 |
| **Directv Financing LLC** <br>8.875% due 02/01/2030 | 4379 | 4371 |
| **Discovery Communications LLC**  |  |  |
| 3.625% due 05/15/2030  | 1275 | 1187 |
| 3.950% due 03/20/2028  | 2693 | 2640 |
| **Discovery Global Holdings, Inc.**  |  |  |
| 3.755% due 03/15/2027  | 4196 | 4147 |
| 4.054% due 03/15/2029  | 997 | 965 |
| 5.050% due 03/15/2042  | 925 | 612 |
| **DISH DBS Corp.**  |  |  |
| 5.125% due 06/01/2029  | 6250 | 5592 |
| 5.250% due 12/01/2026  | 5822 | 5775 |
| 5.750% due 12/01/2028  | 5510 | 5333 |
| 7.375% due 07/01/2028  | 3147 | 3056 |
| 7.750% due 07/01/2026  | 4534 | 4524 |
| **DISH Network Corp.** <br>11.750% due 11/15/2027 | 5426 | 5593 |
| **Dream Finders Homes, Inc.** <br>6.875% due 09/15/2030 | 2522 | 2416 |
| **EchoStar Corp.** <br>10.750% due 11/30/2029 | 8249 | 8916 |
| **Efesto Bidco SpA Efesto U.S. LLC** <br>7.500% due 02/15/2032 | 2350 | 2341 |
| **EG Global Finance PLC** <br>12.000% due 11/30/2028 | 1584 | 1696 |
| **Eldorado Gold Corp.** <br>6.250% due 09/01/2029 | 1548 | 1541 |
| **Ellucian Holdings, Inc.** <br>6.500% due 12/01/2029 | 3583 | 3509 |
| **Encompass Health Corp.** <br>4.500% due 02/01/2028 | 871 | 864 |
| **Energy Transfer LP** <br>6.500% due 02/15/2056 •  | 1673 | 1654 |
| **Entegris, Inc.** <br>4.750% due 04/15/2029 | 3394 | 3357 |
| **ERO Copper Corp.** <br>6.500% due 02/15/2030 | 800 | 794 |
| **Esab Corp.**  |  |  |
| 5.625% due 04/01/2031  | 1375 | 1388 |
| 6.250% due 04/15/2029  | 778 | 791 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **EW Scripps Co.** <br>9.875% due 08/15/2030 | 4600 | 4470 |
| **Excelerate Energy LP** <br>8.000% due 05/15/2030 | 2933 | 3072 |
| **Fair Isaac Corp.** <br>4.000% due 06/15/2028 | 1582 | 1536 |
| **Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.**  |  |  |
| 4.625% due 01/15/2029  | 1938 | 1853 |
| 6.750% due 01/15/2030  | 3308 | 3092 |
| **First Quantum Minerals Ltd.** <br>8.000% due 03/01/2033 | 200 | 209 |
| **First Student Bidco, Inc./First Transit Parent, Inc.** <br>4.000% due 07/31/2029 | 1862 | 1784 |
| **Flash Compute LLC** <br>7.250% due 12/31/2030 | 800 | 806 |
| **Fluor Corp.** <br>4.250% due 09/15/2028 | 1732 | 1705 |
| **Fortescue Treasury Pty. Ltd.**  |  |  |
| 4.500% due 09/15/2027  | 2076 | 2058 |
| 5.875% due 04/15/2030  | 1004 | 1017 |
| **Fortrea Holdings, Inc.** <br>7.500% due 07/01/2030 (g) | 519 | 492 |
| **Frontier Communications Holdings LLC**  |  |  |
| 5.875% due 11/01/2029  | 735 | 740 |
| 6.750% due 05/01/2029  | 1774 | 1777 |
| **Full House Resorts, Inc.** <br>8.250% due 02/15/2028 | 1158 | 1057 |
| **FXI Holdings, Inc.** <br>11.000% due 11/15/2030 | 438 | 389 |
| **FXI Holdings, Inc. (16.000% PIK)** <br>16.000% due 11/15/2029 (b) | 262 | 137 |
| **Gap, Inc.** <br>3.625% due 10/01/2029 | 2328 | 2176 |
| **Garda World Security Corp.**  |  |  |
| 6.000% due 06/01/2029  | 2060 | 1963 |
| 6.500% due 01/15/2031  | 1325 | 1344 |
| **GFL Environmental, Inc.** <br>4.000% due 08/01/2028 | 2135 | 2077 |
| **Global Auto Holdings Ltd./AAG FH U.K. Ltd.**  |  |  |
| 8.375% due 01/15/2029  | 1902 | 1739 |
| 11.500% due 08/15/2029  | 1651 | 1644 |
| **Go Daddy Operating Co. LLC/GD Finance Co., Inc.**  |  |  |
| 3.500% due 03/01/2029  | 2528 | 2355 |
| 5.250% due 12/01/2027  | 596 | 594 |
| **goeasy Ltd.**  |  |  |
| 6.875% due 05/15/2030  | 2400 | 1991 |
| 7.375% due 10/01/2030  | 250 | 207 |
| 9.250% due 12/01/2028  | 1633 | 1520 |
| **Golar LNG Ltd.** <br>7.500% due 10/02/2030 | 800 | 810 |
| **Goodyear Tire & Rubber Co.**  |  |  |
| 4.875% due 03/15/2027  | 15 | 15 |
| 5.000% due 07/15/2029  | 2444 | 2314 |
| **Graphic Packaging International LLC**  |  |  |
| 3.500% due 03/15/2028  | 558 | 537 |
| 4.750% due 07/15/2027  | 275 | 273 |
| **Gray Media, Inc.**  |  |  |
| 4.750% due 10/15/2030  | 2489 | 1923 |
| 9.625% due 07/15/2032  | 3039 | 3042 |
| 10.500% due 07/15/2029  | 1870 | 1988 |
| **Great Lakes Dredge & Dock Corp.** <br>5.250% due 06/01/2029 | 1325 | 1331 |
| **Griffon Corp.** <br>5.750% due 03/01/2028 | 3147 | 3143 |
| **Grifols SA** <br>4.750% due 10/15/2028 | 3193 | 3129 |
| **Group 1 Automotive, Inc.** <br>4.000% due 08/15/2028 | 1026 | 993 |
| **GrubHub Holdings, Inc. (7.000% Cash and 7.000% PIK)** <br>14.000% due 07/31/2030 (b)(g) | 1705 | 1349 |
| **Gulfport Energy Operating Corp.** <br>6.750% due 09/01/2029 | 3509 | 3593 |
| **HealthEquity, Inc.** <br>4.500% due 10/01/2029 | 1526 | 1478 |
| **Heartland Dental LLC/Heartland Dental Finance Corp.** <br>10.500% due 04/30/2028 | 238 | 245 |
| **Herc Holdings, Inc.**  |  |  |
| 5.750% due 03/15/2031  | 1901 | 1874 |
| 7.000% due 06/15/2030  | 1818 | 1865 |
| **Hertz Corp.**  |  |  |
| 4.625% due 12/01/2026  | 243 | 220 |
| 12.625% due 07/15/2029  | 2886 | 2535 |
| **Hess Midstream Operations LP** <br>5.875% due 03/01/2028 | 1118 | 1126 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Hilton Domestic Operating Co., Inc.** <br>5.875% due 04/01/2029 | 1018 | 1028 |
| **Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.** <br>5.000% due 06/01/2029 | 1874 | 1780 |
| **Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.** <br>4.875% due 04/01/2027 | 839 | 839 |
| **HNI Corp.** <br>5.125% due 01/18/2029 | 2279 | 2182 |
| **Hologic, Inc.** <br>3.250% due 02/15/2029 | 645 | 644 |
| **HTA Group Ltd.** <br>7.500% due 06/04/2029 | 562 | 573 |
| **Hughes Satellite Systems Corp.**  |  |  |
| 5.250% due 08/01/2026 (g)  | 1200 | 1068 |
| 6.625% due 08/01/2026 (g)  | 850 | 640 |
| **IAMGOLD Corp.** <br>5.750% due 10/15/2028 | 1523 | 1517 |
| **iHeartCommunications, Inc.**  |  |  |
| 7.750% due 08/15/2030  | 680 | 542 |
| 9.125% due 05/01/2029  | 1101 | 1001 |
| **IHO Verwaltungs GmbH (6.375% Cash or 7.125% PIK)** <br>6.375% due 05/15/2029 (b) | 738 | 738 |
| **IHO Verwaltungs GmbH (7.750% Cash or 8.500% PIK)** <br>7.750% due 11/15/2030 (b) | 1658 | 1687 |
| **Illuminate Buyer LLC/Illuminate Holdings IV, Inc.** <br>9.000% due 07/01/2028 | 515 | 516 |
| **Imola Merger Corp.** <br>4.750% due 05/15/2029 | 4811 | 4679 |
| **Incora Intermediate II LLC (0.500% PIK)** <br>0.500% due 01/31/2030 «(b) | 567 | 567 |
| **Incora Top Holdco LLC** <br>6.000% due 01/30/2033 «(i) | 394 | 596 |
| **INEOS Finance PLC**  |  |  |
| 6.750% due 05/15/2028  | 2703 | 2615 |
| 7.500% due 04/15/2029  | 917 | 890 |
| **INEOS Quattro Finance 2 PLC** <br>9.625% due 03/15/2029 (g) | 561 | 462 |
| **Ithaca Energy North Sea PLC** <br>8.125% due 10/15/2029 | 1216 | 1248 |
| **ITT Holdings LLC** <br>6.500% due 08/01/2029 | 1272 | 1238 |
| **Jaguar Land Rover Automotive PLC** <br>4.500% due 10/01/2027 | 1745 | 1713 |
| **JELD-WEN, Inc.** <br>4.875% due 12/15/2027 | 450 | 306 |
| **JetBlue Airways Corp./JetBlue Loyalty LP** <br>9.875% due 09/20/2031 | 2996 | 2835 |
| **JW Aluminum Continuous Cast Co.** <br>10.250% due 04/01/2030 | 1318 | 1365 |
| **K Hovnanian Enterprises, Inc.** <br>8.000% due 04/01/2031 | 775 | 767 |
| **KBR, Inc.** <br>4.750% due 09/30/2028 | 1457 | 1430 |
| **KeHE Distributors LLC/KeHE Finance Corp./NextWave Distribution, Inc.** <br>9.000% due 02/15/2029 | 2213 | 2307 |
| **Kinetik Holdings LP** <br>6.625% due 12/15/2028 | 1534 | 1561 |
| **Kioxia Holdings Corp.** <br>0.000% due 07/24/2030 | 2234 | 2272 |
| **Kodiak Gas Services LLC**  |  |  |
| 5.875% due 04/01/2031  | 1375 | 1383 |
| 7.250% due 02/15/2029  | 1613 | 1672 |
| **Kraken Oil & Gas Partners LLC** <br>7.625% due 08/15/2029 | 930 | 950 |
| **Lamb Weston Holdings, Inc.** <br>4.875% due 05/15/2028 | 2262 | 2237 |
| **LBM Acquisition LLC**  |  |  |
| 6.250% due 01/15/2029  | 2590 | 1896 |
| 9.500% due 06/15/2031  | 1748 | 1524 |
| **LCM Investments Holdings II LLC** <br>4.875% due 05/01/2029 | 992 | 966 |
| **Level 3 Financing, Inc.**  |  |  |
| 3.625% due 01/15/2029  | 1404 | 1320 |
| 3.750% due 07/15/2029  | 874 | 814 |
| 4.875% due 06/15/2029  | 1482 | 1449 |
| 8.500% due 01/15/2036  | 2465 | 2574 |
| **LGI Homes, Inc.** <br>4.000% due 07/15/2029 | 875 | 780 |
| **LifePoint Health, Inc.**  |  |  |
| 5.375% due 01/15/2029  | 3015 | 2910 |
| 10.000% due 06/01/2032  | 1731 | 1770 |
| 11.000% due 10/15/2030  | 167 | 180 |
| **Lindblad Expeditions LLC** <br>7.000% due 09/15/2030 | 700 | 715 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Lithia Motors, Inc.** <br>4.625% due 12/15/2027 | 4000 | 3959 |
| **Live Nation Entertainment, Inc.**  |  |  |
| 4.750% due 10/15/2027  | 2285 | 2272 |
| 6.500% due 05/15/2027  | 1172 | 1174 |
| **Lsf12 Helix Parent LLC** <br>7.125% due 02/01/2033 | 1324 | 1278 |
| **Madison IAQ LLC**  |  |  |
| 4.125% due 06/30/2028  | 1879 | 1836 |
| 5.875% due 06/30/2029  | 1578 | 1549 |
| **Match Group Holdings II LLC**  |  |  |
| 4.625% due 06/01/2028  | 1940 | 1898 |
| 5.000% due 12/15/2027  | 647 | 645 |
| 5.625% due 02/15/2029  | 1708 | 1688 |
| **Mativ Holdings, Inc.** <br>8.000% due 10/01/2029 | 2013 | 1877 |
| **Mauser Packaging Solutions Holding Co.**  |  |  |
| 7.875% due 04/15/2030  | 5043 | 5047 |
| 9.250% due 04/15/2030  | 3889 | 3617 |
| **Mavis Tire Express Services Topco Corp.** <br>6.500% due 05/15/2029 | 1650 | 1638 |
| **Maxam Prill SARL** <br>7.750% due 07/15/2030 | 2763 | 2817 |
| **Maxim Crane Works Holdings Capital LLC** <br>11.500% due 09/01/2028 | 1848 | 1928 |
| **McAfee Corp.** <br>7.375% due 02/15/2030 | 6259 | 5178 |
| **McGraw-Hill Education, Inc.**  |  |  |
| 5.750% due 08/01/2028  | 2398 | 2373 |
| 8.000% due 08/01/2029  | 4288 | 4285 |
| **Medline Borrower LP** <br>5.250% due 10/01/2029 | 1633 | 1620 |
| **Methanex Corp.** <br>5.125% due 10/15/2027 | 1162 | 1155 |
| **Michaels Cos., Inc.** <br>8.500% due 03/15/2033 | 2365 | 2305 |
| **Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.** <br>4.875% due 05/01/2029 | 3684 | 3575 |
| **Millennium Escrow Corp.** <br>6.625% due 08/01/2026 | 862 | 807 |
| **Mineral Resources Ltd.**  |  |  |
| 7.000% due 04/01/2031  | 1425 | 1458 |
| 9.250% due 10/01/2028  | 1904 | 1974 |
| **Minerals Technologies, Inc.** <br>5.000% due 07/01/2028 | 2134 | 2103 |
| **MIWD Holdco II LLC/MIWD Finance Corp.** <br>5.500% due 02/01/2030 | 2168 | 1875 |
| **Mohegan Tribal Gaming Authority/MS Digital Entertainment Holdings LLC** <br>8.250% due 04/15/2030 | 1540 | 1578 |
| **Molina Healthcare, Inc.**  |  |  |
| 4.375% due 06/15/2028  | 2290 | 2216 |
| 6.500% due 02/15/2031  | 25 | 25 |
| **Moog, Inc.** <br>4.250% due 12/15/2027 | 1478 | 1482 |
| **MPH Acquisition Holdings LLC** <br>5.750% due 12/31/2030 | 17 | 13 |
| **MPH Acquisition Holdings LLC (6.500% Cash and 5.000% PIK)** <br>11.500% due 12/31/2030 (b) | 700 | 633 |
| **Mueller Water Products, Inc.** <br>4.000% due 06/15/2029 | 1300 | 1253 |
| **Murphy Oil USA, Inc.**  |  |  |
| 3.750% due 02/15/2031  | 1450 | 1348 |
| 5.625% due 05/01/2027  | 259 | 259 |
| **Nabors Industries, Inc.**  |  |  |
| 7.625% due 11/15/2032  | 1673 | 1714 |
| 8.875% due 08/15/2031  | 1723 | 1796 |
| 9.125% due 01/31/2030  | 1575 | 1655 |
| **National Mentor Holdings, Inc.** <br>10.500% due 12/15/2030 | 5651 | 5837 |
| **NCL Corp. Ltd.**  |  |  |
| 5.875% due 01/15/2031  | 1901 | 1848 |
| 7.750% due 02/15/2029  | 1214 | 1265 |
| **NCR Atleos Corp.** <br>9.500% due 04/01/2029 | 1452 | 1555 |
| **NCR Voyix Corp.**  |  |  |
| 5.000% due 10/01/2028  | 3418 | 3296 |
| 5.125% due 04/15/2029  | 1907 | 1826 |
| **Neptune Bidco U.S., Inc.**  |  |  |
| 9.290% due 04/15/2029  | 7199 | 7225 |
| 10.375% due 05/15/2031  | 1035 | 1045 |
| **New Enterprise Stone & Lime Co., Inc.** <br>5.250% due 07/15/2028 | 1923 | 1896 |
| **New Flyer Holdings, Inc.** <br>9.250% due 07/01/2030 | 1277 | 1366 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Newfold Digital Holdings Group, Inc.** <br>7.269% due 04/30/2029 | 3258 | 1853 |
| **Nexstar Media, Inc.**  |  |  |
| 4.750% due 11/01/2028  | 1126 | 1108 |
| 5.625% due 07/15/2027  | 3389 | 3390 |
| 7.250% due 04/15/2034 (a)  | 1600 | 1606 |
| **Nissan Motor Co. Ltd.**  |  |  |
| 4.345% due 09/17/2027  | 5167 | 5030 |
| 4.810% due 09/17/2030  | 1983 | 1802 |
| 7.500% due 07/17/2030  | 1313 | 1324 |
| **Noble Finance II LLC** <br>8.000% due 04/15/2030 | 4057 | 4179 |
| **Nordstrom, Inc.** <br>4.000% due 03/15/2027 | 738 | 722 |
| **NOVA Chemicals Corp.** <br>5.250% due 06/01/2027 | 2493 | 2491 |
| **Novelis Corp.** <br>4.750% due 01/30/2030 | 4936 | 4673 |
| **OAK-Eagle Acquireco, Inc.** <br>8.750% due 07/01/2034 (a) | 1350 | 1414 |
| **Odeon Finco PLC** <br>12.750% due 11/01/2027 | 577 | 596 |
| **Olin Corp.**  |  |  |
| 5.000% due 02/01/2030  | 1175 | 1126 |
| 5.625% due 08/01/2029  | 1505 | 1488 |
| **Olympus Water U.S. Holding Corp.**  |  |  |
| 4.250% due 10/01/2028  | 1069 | 1022 |
| 6.250% due 10/01/2029 (g)  | 2558 | 2420 |
| **ON Semiconductor Corp.** <br>3.875% due 09/01/2028 | 2824 | 2727 |
| **OneSky Flight LLC** <br>8.875% due 12/15/2029 | 3516 | 3632 |
| **Ontario Gaming GTA LP/OTG Co-Issuer, Inc.** <br>8.000% due 08/01/2030 | 2678 | 2569 |
| **Open Text Corp.** <br>3.875% due 02/15/2028 | 2946 | 2839 |
| **Open Text Holdings, Inc.** <br>4.125% due 02/15/2030 | 1683 | 1505 |
| **Option Care Health, Inc.** <br>4.375% due 10/31/2029 | 1406 | 1356 |
| **Organon & Co./Organon Foreign Debt Co-Issuer BV**  |  |  |
| 4.125% due 04/30/2028  | 3875 | 3762 |
| 5.125% due 04/30/2031  | 900 | 734 |
| **Outfront Media Capital LLC/Outfront Media Capital Corp.**  |  |  |
| 4.250% due 01/15/2029  | 1000 | 965 |
| 5.000% due 08/15/2027  | 2157 | 2153 |
| **Paradigm Parent LLC & Paradigm Parent Co-Issuer, Inc.** <br>8.750% due 04/17/2032 | 1125 | 1001 |
| **Paramount Global**  |  |  |
| 3.375% due 02/15/2028  | 325 | 315 |
| 3.700% due 06/01/2028  | 2412 | 2334 |
| 4.200% due 06/01/2029  | 1075 | 1027 |
| 4.950% due 01/15/2031  | 1715 | 1589 |
| 5.850% due 09/01/2043  | 100 | 69 |
| 6.250% due 02/28/2057 •  | 1566 | 1057 |
| 6.875% due 04/30/2036  | 390 | 342 |
| 7.875% due 07/30/2030  | 850 | 888 |
| **Park River Holdings, Inc.**  |  |  |
| 8.000% due 03/15/2031  | 646 | 643 |
| 8.750% due 12/31/2030  | 2112 | 1956 |
| **Penn Entertainment, Inc.**  |  |  |
| 5.625% due 01/15/2027  | 1731 | 1729 |
| 6.750% due 04/01/2031  | 900 | 875 |
| **Performance Food Group, Inc.** <br>4.250% due 08/01/2029 | 2262 | 2175 |
| **Permian Resources Operating LLC** <br>8.000% due 04/15/2027 | 1497 | 1499 |
| **Perrigo Finance Unlimited Co.** <br>5.150% due 06/15/2030 | 2250 | 2034 |
| **Petco Health & Wellness Co., Inc.** <br>8.250% due 02/01/2031 | 1100 | 1099 |
| **PM General Purchaser LLC** <br>9.500% due 10/01/2028 | 2718 | 2578 |
| **Post Holdings, Inc.** <br>4.625% due 04/15/2030 | 4675 | 4491 |
| **Precision Drilling Corp.** <br>6.875% due 01/15/2029 | 2204 | 2222 |
| **Prestige Brands, Inc.** <br>5.125% due 01/15/2028 | 1300 | 1298 |
| **Prime Healthcare Services, Inc.** <br>9.375% due 09/01/2029 | 4255 | 4415 |
| **Prime Security Services Borrower LLC/Prime Finance, Inc.**  |  |  |
| 3.375% due 08/31/2027  | 2521 | 2455 |
| 5.750% due 04/15/2026  | 162 | 163 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Primo Water Holdings, Inc./Triton Water Holdings, Inc.**  |  |  |
| 4.375% due 04/30/2029  | 2399 | 2333 |
| 6.250% due 04/01/2029  | 2424 | 2430 |
| **QVC, Inc.** <br>6.875% due 04/15/2029 | 542 | 241 |
| **Rackspace Finance LLC** <br>3.500% due 05/15/2028 | 258 | 129 |
| **Radiology Partners, Inc.** <br>8.500% due 07/15/2032 | 1156 | 1173 |
| **Rakuten Group, Inc.**  |  |  |
| 8.125% due 12/15/2029 •(f)  | 489 | 485 |
| 9.750% due 04/15/2029  | 4711 | 5025 |
| 11.250% due 02/15/2027  | 4517 | 4680 |
| **Rand Parent LLC** <br>8.500% due 02/15/2030 | 1759 | 1807 |
| **RB Global Holdings, Inc.** <br>6.750% due 03/15/2028 | 872 | 884 |
| **Real Hero Merger Sub 2, Inc.** <br>6.250% due 02/01/2029 | 815 | 330 |
| **Reworld Holding Corp.** <br>4.875% due 12/01/2029 | 1668 | 1565 |
| **Rivers Enterprise Borrower LLC** <br>6.250% due 10/15/2030 | 1519 | 1516 |
| **Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC** <br>10.000% due 01/15/2031 | 3270 | 3180 |
| **ROBLOX Corp.** <br>3.875% due 05/01/2030 | 2452 | 2306 |
| **Rocket Software, Inc.** <br>6.500% due 02/15/2029 | 2227 | 2007 |
| **Rockies Express Pipeline LLC** <br>4.950% due 07/15/2029 | 1925 | 1878 |
| **Rogers Communications, Inc.**  |  |  |
| 5.250% due 03/15/2082 •  | 1168 | 1155 |
| 7.000% due 04/15/2055 •  | 3040 | 3054 |
| **Roller Bearing Co. of America, Inc.** <br>4.375% due 10/15/2029 | 1573 | 1530 |
| **RR Donnelley & Sons Co.**  |  |  |
| 9.500% due 08/01/2029  | 1905 | 1930 |
| 10.875% due 08/01/2029  | 900 | 909 |
| **Sabre GLBL, Inc.**  |  |  |
| 10.750% due 11/15/2029  | 927 | 793 |
| 10.750% due 03/15/2030  | 1423 | 1204 |
| **Science Applications International Corp.** <br>4.875% due 04/01/2028 | 934 | 920 |
| **SCIH Salt Holdings, Inc.** <br>4.875% due 05/01/2028 | 2447 | 2421 |
| **Scripps Escrow II, Inc.**  |  |  |
| 3.875% due 01/15/2029 (g)  | 1298 | 1202 |
| 5.375% due 01/15/2031  | 1976 | 1458 |
| **Seadrill Finance Ltd.** <br>8.375% due 08/01/2030 | 2257 | 2336 |
| **Seagate Data Storage Technology Pte. Ltd.**  |  |  |
| 4.091% due 06/01/2029  | 1543 | 1495 |
| 5.875% due 07/15/2030  | 2471 | 2513 |
| **Sealed Air Corp./Sealed Air Corp. U.S.** <br>6.125% due 02/01/2028 | 992 | 1005 |
| **Sensata Technologies BV** <br>4.000% due 04/15/2029 | 1166 | 1126 |
| **Service Corp. International**  |  |  |
| 3.375% due 08/15/2030  | 322 | 297 |
| 4.625% due 12/15/2027  | 1188 | 1177 |
| **Shutterfly Finance LLC**  |  |  |
| 8.500% due 10/01/2027 (g)  | 1897 | 1819 |
| 9.750% due 10/01/2027  | 247 | 248 |
| **Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed** <br>4.625% due 03/01/2029 | 4616 | 4446 |
| **Sirius XM Radio LLC**  |  |  |
| 3.125% due 09/01/2026  | 2208 | 2195 |
| 4.000% due 07/15/2028  | 4403 | 4253 |
| 4.125% due 07/01/2030  | 2018 | 1891 |
| 5.000% due 08/01/2027  | 2219 | 2217 |
| 5.500% due 07/01/2029  | 3677 | 3667 |
| **Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp.** <br>5.250% due 07/15/2029 | 1423 | 1362 |
| **Six Flags Entertainment Corp./Canada's Wonderland Co./Millennium Operations LLC** <br>8.625% due 01/15/2032 | 400 | 401 |
| **SK Invictus Intermediate II SARL** <br>5.000% due 10/30/2029 | 1379 | 1346 |
| **SM Energy Co.**  |  |  |
| 5.000% due 10/15/2026  | 1244 | 1243 |
| 6.500% due 07/15/2028  | 618 | 620 |
| 6.625% due 01/15/2027  | 1034 | 1035 |
| 6.750% due 08/01/2029  | 3801 | 3861 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Smyrna Ready Mix Concrete LLC** <br>6.000% due 11/01/2028 | 3883 | 3856 |
| **Sotheby's** <br>7.375% due 10/15/2027 | 2606 | 2595 |
| **South Bow Canadian Infrastructure Holdings Ltd.** <br>7.625% due 03/01/2055 •  | 1759 | 1812 |
| **Specialty Building Products Holdings LLC/SBP Finance Corp.** <br>7.750% due 10/15/2029 | 3857 | 3352 |
| **Speedway Motorsports LLC/Speedway Funding II, Inc.** <br>4.875% due 11/01/2027 | 629 | 627 |
| **Spirit Airlines Pass-Through Trust** <br>4.100% due 10/01/2029 | 374 | 367 |
| **SS&C Technologies, Inc.** <br>5.500% due 09/30/2027 | 1450 | 1452 |
| **Stagwell Global LLC** <br>5.625% due 08/15/2029 | 6528 | 6221 |
| **Standard Industries, Inc.**  |  |  |
| 3.375% due 01/15/2031  | 900 | 807 |
| 4.375% due 07/15/2030  | 104 | 98 |
| 4.750% due 01/15/2028  | 2811 | 2781 |
| **Staples, Inc.** <br>10.750% due 09/01/2029 | 6359 | 5886 |
| **Star Leasing Co. LLC** <br>7.625% due 02/15/2030 | 1780 | 1649 |
| **Star Parent, Inc.** <br>9.000% due 10/01/2030 | 2400 | 2489 |
| **Station Casinos LLC** <br>4.500% due 02/15/2028 | 4824 | 4731 |
| **Stena International SA** <br>7.250% due 01/15/2031 | 625 | 632 |
| **SunCoke Energy, Inc.** <br>4.875% due 06/30/2029 | 1850 | 1671 |
| **Sunoco LP**  |  |  |
| 4.500% due 10/01/2029  | 353 | 341 |
| 4.625% due 05/01/2030  | 875 | 843 |
| 5.875% due 07/15/2027  | 1800 | 1800 |
| 7.000% due 05/01/2029  | 777 | 798 |
| **Sunoco LP/Sunoco Finance Corp.**  |  |  |
| 4.500% due 05/15/2029  | 461 | 450 |
| 4.500% due 04/30/2030  | 2111 | 2036 |
| 5.875% due 03/15/2028  | 316 | 316 |
| 7.000% due 09/15/2028  | 1008 | 1032 |
| **Superior Plus LP/Superior General Partner, Inc.** <br>4.500% due 03/15/2029 | 1000 | 957 |
| **Surgery Center Holdings, Inc.** <br>7.250% due 04/15/2032 | 1050 | 1033 |
| **SV RNO Property Owner 1 LLC** <br>5.875% due 03/01/2031 | 4391 | 4343 |
| **Synaptics, Inc.** <br>4.000% due 06/15/2029 | 675 | 640 |
| **Synergy Infrastructure Holdings LLC** <br>7.875% due 12/01/2030 | 1186 | 1212 |
| **Talos Production, Inc.** <br>9.000% due 02/01/2029 | 975 | 1016 |
| **Taseko Mines Ltd.** <br>8.250% due 05/01/2030 | 858 | 896 |
| **Taylor Morrison Communities, Inc.** <br>5.750% due 01/15/2028 | 2093 | 2100 |
| **Team Health Holdings, Inc.** <br>8.375% due 06/30/2028 | 1527 | 1509 |
| **Teleflex, Inc.**  |  |  |
| 4.250% due 06/01/2028  | 1539 | 1497 |
| 4.625% due 11/15/2027  | 943 | 935 |
| **Tenet Healthcare Corp.**  |  |  |
| 4.250% due 06/01/2029  | 3534 | 3429 |
| 4.625% due 06/15/2028  | 1338 | 1327 |
| 5.125% due 11/01/2027  | 1587 | 1586 |
| 6.125% due 10/01/2028  | 1136 | 1139 |
| **Tenneco, Inc.** <br>8.000% due 11/17/2028 | 1333 | 1329 |
| **TGNR Intermediate Holdings LLC** <br>5.500% due 10/15/2029 | 3309 | 3238 |
| **TGS ASA** <br>8.500% due 01/15/2030 | 4220 | 4424 |
| **Thor Industries, Inc.** <br>4.000% due 10/15/2029 | 2064 | 1950 |
| **Tidewater, Inc.** <br>9.125% due 07/15/2030 | 1984 | 2115 |
| **Titan International, Inc.** <br>7.000% due 04/30/2028 | 2588 | 2584 |
| **TK Elevator U.S. Newco, Inc.** <br>5.250% due 07/15/2027 | 522 | 521 |
| **TopBuild Corp.** <br>3.625% due 03/15/2029 | 1789 | 1705 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC** <br>9.500% due 05/15/2030 | 2964 | 2621 |
| **TransDigm, Inc.**  |  |  |
| 4.625% due 01/15/2029  | 1517 | 1491 |
| 4.875% due 05/01/2029  | 1000 | 986 |
| 6.375% due 03/01/2029  | 4827 | 4923 |
| 6.750% due 08/15/2028  | 4986 | 5053 |
| **Transocean Aquila Ltd.** <br>8.000% due 09/30/2028 | 1021 | 1050 |
| **Transocean International Ltd.** <br>8.250% due 05/15/2029 | 5704 | 5897 |
| **Travel & Leisure Co.**  |  |  |
| 6.000% due 04/01/2027  | 538 | 541 |
| 6.625% due 07/31/2026  | 1486 | 1488 |
| **Trident TPI Holdings, Inc.** <br>12.750% due 12/31/2028 | 2689 | 2621 |
| **TriNet Group, Inc.** <br>3.500% due 03/01/2029 | 2171 | 1971 |
| **Trivium Packaging Finance BV**  |  |  |
| 8.250% due 07/15/2030  | 1405 | 1471 |
| 12.250% due 01/15/2031  | 575 | 623 |
| **Tronox, Inc.**  |  |  |
| 4.625% due 03/15/2029  | 419 | 336 |
| 9.125% due 09/30/2030  | 950 | 950 |
| **TTM Technologies, Inc.** <br>4.000% due 03/01/2029 | 850 | 817 |
| **Tutor Perini Corp.** <br>11.875% due 04/30/2029 | 775 | 849 |
| **Twilio, Inc.** <br>3.625% due 03/15/2029 | 1770 | 1694 |
| **U.S. Acute Care Solutions LLC** <br>9.750% due 05/15/2029 | 3968 | 3838 |
| **U.S. Foods, Inc.** <br>6.875% due 09/15/2028 | 925 | 947 |
| **U.S. Renal Care, Inc.** <br>10.625% due 06/28/2028 | 326 | 272 |
| **UKG, Inc.** <br>6.875% due 02/01/2031 | 2128 | 2082 |
| **Under Armour, Inc.**  |  |  |
| 3.250% due 06/15/2026  | 1785 | 1784 |
| 7.250% due 07/15/2030  | 800 | 810 |
| **United Airlines Holdings, Inc.**  |  |  |
| 4.875% due 03/01/2029  | 1548 | 1518 |
| 5.375% due 03/01/2031  | 2390 | 2344 |
| **United Rentals North America, Inc.**  |  |  |
| 3.875% due 11/15/2027  | 323 | 319 |
| 4.000% due 07/15/2030  | 744 | 707 |
| 4.875% due 01/15/2028  | 2597 | 2587 |
| **Univision Communications, Inc.**  |  |  |
| 4.500% due 05/01/2029  | 550 | 517 |
| 7.375% due 06/30/2030  | 2704 | 2652 |
| 8.000% due 08/15/2028  | 3750 | 3808 |
| **USA Compression Partners LP/USA Compression Finance Corp.** <br>7.125% due 03/15/2029 | 347 | 355 |
| **Valaris Ltd.** <br>8.375% due 04/30/2030 | 2496 | 2588 |
| **Velocity Vehicle Group LLC** <br>8.000% due 06/01/2029 | 2073 | 1939 |
| **Venture Global Calcasieu Pass LLC** <br>3.875% due 08/15/2029 | 5749 | 5467 |
| **Venture Global LNG, Inc.**  |  |  |
| 7.000% due 01/15/2030  | 2400 | 2452 |
| 8.125% due 06/01/2028  | 7053 | 7217 |
| 9.500% due 02/01/2029  | 7337 | 7937 |
| 9.875% due 02/01/2032  | 1150 | 1236 |
| **Venture Global Plaquemines LNG LLC** <br>6.125% due 12/15/2030 | 2126 | 2188 |
| **Veritiv Operating Co.** <br>10.500% due 11/30/2030 | 675 | 702 |
| **Versant Media Group, Inc.** <br>7.250% due 01/30/2031 | 1744 | 1786 |
| **VF Corp.**  |  |  |
| 2.800% due 04/23/2027  | 2379 | 2316 |
| 2.950% due 04/23/2030  | 1230 | 1097 |
| **Viasat, Inc.** <br>5.625% due 04/15/2027 | 924 | 918 |
| **Viavi Solutions, Inc.** <br>3.750% due 10/01/2029 | 2137 | 2007 |
| **Viking Cruises Ltd.**  |  |  |
| 7.000% due 02/15/2029  | 1000 | 1002 |
| 9.125% due 07/15/2031  | 1199 | 1266 |
| **Virgin Media Finance PLC** <br>5.000% due 07/15/2030 | 5351 | 4391 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Virgin Media Secured Finance PLC**  |  |  |
| 4.500% due 08/15/2030  | 1519 | 1348 |
| 5.500% due 05/15/2029  | 3536 | 3393 |
| **Viridien** <br>10.000% due 10/15/2030 | 566 | 603 |
| **VistaJet Malta Finance PLC/Vista Management Holding, Inc.**  |  |  |
| 6.375% due 02/01/2030 (g)  | 3004 | 2598 |
| 7.875% due 05/01/2027  | 2176 | 2150 |
| 9.500% due 06/01/2028  | 2552 | 2495 |
| **Vmed O2 U.K. Financing I PLC**  |  |  |
| 4.250% due 01/31/2031  | 1475 | 1268 |
| 6.750% due 01/15/2033  | 900 | 805 |
| **VZ Secured Financing BV**  |  |  |
| 5.000% due 01/15/2032  | 1589 | 1364 |
| 7.500% due 01/15/2033  | 1876 | 1770 |
| **Wayfair LLC**  |  |  |
| 6.750% due 11/15/2032  | 1038 | 1047 |
| 7.250% due 10/31/2029  | 2074 | 2118 |
| **WBI Operating LLC** <br>6.250% due 10/15/2030 | 1347 | 1356 |
| **Weatherford International Ltd.** <br>6.750% due 10/15/2033 | 1546 | 1581 |
| **WESCO Distribution, Inc.**  |  |  |
| 6.375% due 03/15/2029  | 2038 | 2077 |
| 7.250% due 06/15/2028  | 304 | 306 |
| **Whirlpool Corp.** <br>4.750% due 02/26/2029 | 2932 | 2812 |
| **White Cap Supply Holdings LLC** <br>7.375% due 11/15/2030 | 3335 | 3237 |
| **Wildfire Intermediate Holdings LLC** <br>7.500% due 10/15/2029 | 2625 | 2662 |
| **Williams Scotsman, Inc.** <br>4.625% due 08/15/2028 | 530 | 522 |
| **Windstream Services LLC/Windstream Escrow Finance Corp.** <br>8.250% due 10/01/2031 | 2183 | 2283 |
| **Wolverine World Wide, Inc.** <br>4.000% due 08/15/2029 | 3181 | 2947 |
| **WR Grace Holdings LLC**  |  |  |
| 5.625% due 08/15/2029  | 4496 | 4139 |
| 7.000% due 08/01/2033  | 475 | 462 |
| **Wyndham Hotels & Resorts, Inc.** <br>4.375% due 08/15/2028 | 2838 | 2774 |
| **Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.** <br>5.250% due 05/15/2027 | 2076 | 2070 |
| **Xerox Holdings Corp.** <br>5.500% due 08/15/2028 | 3526 | 1472 |
| **XPLR Infrastructure Operating Partners LP**  |  |  |
| 7.250% due 01/15/2029  | 1789 | 1846 |
| 8.375% due 01/15/2031 (g)  | 1375 | 1448 |
| **Zayo Group Holdings, Inc. (5.750% Cash and 0.500% PIK)** <br>6.250% due 03/09/2030 (b) | 3130 | 3113 |
| **Zayo Group Holdings, Inc. (7.125% Cash and 1.875% PIK)** <br>9.000% due 09/09/2030 (b) | 1688 | 1578 |
| **ZF North America Capital, Inc.**  |  |  |
| 6.750% due 04/23/2030  | 2324 | 2250 |
| 6.875% due 04/14/2028  | 2781 | 2822 |
| 7.125% due 04/14/2030  | 1475 | 1455 |
| **Ziff Davis, Inc.** <br>4.625% due 10/15/2030 | 2406 | 2270 |
| **Ziggo Bond Co. BV** <br>5.125% due 02/28/2030 | 1338 | 1149 |
| **Ziggo BV** <br>4.875% due 01/15/2030 | 2681 | 2506 |
| **ZoomInfo Technologies LLC/ZoomInfo Finance Corp.** <br>3.875% due 02/01/2029 | 4996 | 4157 |
|  |  | 1136812 |
| **UTILITIES 5.5%**  |  |  |
| **AES Corp.** <br>7.600% due 01/15/2055 •  | 1640 | 1628 |
| **Aethon United BR LP/Aethon United Finance Corp.** <br>7.500% due 10/01/2029 | 2094 | 2185 |
| **Altice Holdings 1 SARL** <br>0.010% due 12/31/2099 « | 11 | 146 |
| **American Electric Power Co., Inc.** <br>5.800% due 03/15/2056 •  | $875 | 865 |
| **AmeriGas Partners LP/AmeriGas Finance Corp.** <br>9.375% due 06/01/2028 | 244 | 251 |
| **Antero Midstream Partners LP/Antero Midstream Finance Corp.** <br>5.750% due 01/15/2028 | 1100 | 1101 |
| **Archrock Partners LP/Archrock Partners Finance Corp.** <br>6.250% due 04/01/2028 | 1108 | 1108 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Clearway Energy Operating LLC** <br>4.750% due 03/15/2028 | 1973 | 1948 |
| **ContourGlobal Power Holdings SA** <br>6.750% due 02/28/2030 | 1166 | 1180 |
| **Edison International**  |  |  |
| 6.250% due 03/15/2030  | 293 | 304 |
| 7.875% due 06/15/2054 •  | 980 | 1005 |
| 8.125% due 06/15/2053 •  | 1225 | 1248 |
| **Emera, Inc.** <br>6.750% due 06/15/2076 •  | 1823 | 1827 |
| **EUSHI Finance, Inc.** <br>7.625% due 12/15/2054 •  | 3664 | 3791 |
| **Genesis Energy LP/Genesis Energy Finance Corp.**  |  |  |
| 6.750% due 03/15/2034  | 1673 | 1666 |
| 8.250% due 01/15/2029  | 1247 | 1289 |
| **Hilcorp Energy I LP/Hilcorp Finance Co.** <br>6.250% due 11/01/2028 | 1762 | 1771 |
| **Leeward Renewable Energy Operations LLC** <br>4.250% due 07/01/2029 | 2986 | 2805 |
| **Millicom International Cellular SA** <br>5.125% due 01/15/2028 | 470 | 466 |
| **NGL Energy Operating LLC/NGL Energy Finance Corp.** <br>8.125% due 02/15/2029 | 3070 | 3164 |
| **NRG Energy, Inc.**  |  |  |
| 5.250% due 06/15/2029  | 3996 | 3958 |
| 5.750% due 01/15/2028  | 770 | 772 |
| **PacifiCorp**  |  |  |
| 7.125% due 08/15/2056 •  | 4266 | 4031 |
| 7.375% due 09/15/2055 •  | 1872 | 1790 |
| **Pattern Energy Operations LP/Pattern Energy Operations, Inc.** <br>4.500% due 08/15/2028 | 2898 | 2831 |
| **PBF Holding Co. LLC/PBF Finance Corp.**  |  |  |
| 6.000% due 02/15/2028  | 3310 | 3297 |
| 7.875% due 09/15/2030  | 668 | 686 |
| **PG&E Corp.**  |  |  |
| 5.000% due 07/01/2028  | 2527 | 2509 |
| 5.250% due 07/01/2030  | 3157 | 3117 |
| 6.850% due 09/15/2056 •  | 1573 | 1555 |
| 7.375% due 03/15/2055 •  | 2768 | 2788 |
| **Puget Energy, Inc.**  |  |  |
| 7.000% due 09/15/2056 •  | 825 | 819 |
| 7.250% due 09/15/2056 •  | 800 | 797 |
| **Sierra Pacific Power Co.** <br>6.375% due 09/15/2056 •  | 1573 | 1561 |
| **Talen Energy Supply LLC**  |  |  |
| 6.250% due 02/01/2034  | 900 | 891 |
| 6.500% due 02/01/2036  | 900 | 907 |
| **Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.**  |  |  |
| 5.500% due 01/15/2028  | 2709 | 2688 |
| 6.000% due 12/31/2030  | 125 | 124 |
| **TerraForm Power Operating LLC**  |  |  |
| 4.750% due 01/15/2030  | 2330 | 2233 |
| 5.000% due 01/31/2028  | 3857 | 3816 |
| **TXNM Energy, Inc.** <br>7.000% due 07/31/2056 •  | 2550 | 2544 |
| **Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC**  |  |  |
| 6.500% due 02/15/2029  | 2522 | 2452 |
| 8.625% due 06/15/2032  | 12 | 12 |
| **Veon Midco BV** <br>3.375% due 11/25/2027 | 3425 | 3252 |
| **Vistra Operations Co. LLC**  |  |  |
| 5.000% due 07/31/2027  | 1260 | 1256 |
| 5.625% due 02/15/2027  | 1856 | 1857 |
| **Vodafone Group PLC** <br>7.000% due 04/04/2079 •  | 2135 | 2197 |
| **VoltaGrid LLC** <br>7.375% due 11/01/2030 | 3459 | 3574 |
|  |  | 88062 |
| Total Corporate Bonds & Notes (Cost $1,492,212) |  | 1477218 |
| **U.S. TREASURY OBLIGATIONS 0.1%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 4.875% due 08/15/2045 | 489 | 488 |
| **U.S. Treasury Notes**  |  |  |
| 4.250% due 08/15/2035 | 796 | 793 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total U.S. Treasury Obligations (Cost $1,318) |  | 1281 |
|  | SHARES |  |
| **COMMON STOCKS 0.2%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **SES SA «(d)** | 75928 | 1139 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **Riverbed Technology, Inc. «(d)(i)** | 22812 | 1 |
| **FINANCIALS 0.0%**  |  |  |
| **Bruin Blocker LLC «(d)(i)** | 182994 | 0 |
| **HEALTH CARE 0.1%**  |  |  |
| **AmSurg Corp. «(d)(i)** | 21155 | 930 |
| **INDUSTRIALS 0.0%**  |  |  |
| **Incora New Equity «(d)(i)** | 17294 | 655 |
| **Spirit Aviation Holdings, Inc. (d)** | 70218 | 18 |
|  |  | 673 |
| Total Common Stocks (Cost $4,403) |  | 2743 |
| **WARRANTS 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **Spirit Aviation Holdings, Inc. - Exp. 03/11/2035 «** | 79807 | 6 |
| Total Warrants (Cost $983) |  | 6 |
| **PREFERRED SECURITIES 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **Clover Holdings, Inc.**<br>0.000% «(i) | 2459 | 46 |
| Total Preferred Securities (Cost $37) |  | 46 |
| **SHORT-TERM INSTRUMENTS 7.0%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.720% (h) | 2355888 | 2356 |
|  |  | 2356 |
| **REPURCHASE AGREEMENTS (j) 7.0%** |  | 112200 |
| Total Short-Term Instruments (Cost $114,556) |  | 112200 |
| Total Investments in Securities (Cost $1,639,473) |  | 1620766 |
| **INVESTMENTS IN AFFILIATES 2.0%**  |  |  |
| **SHORT-TERM INSTRUMENTS 2.1%**  |  |  |
| **MUTUAL FUNDS 2.0%**  |  |  |
| **PIMCO Government Money Market Fund** <br> 3.740% (g)(h) | 31971222 | 31971 |
| Total Short-Term Instruments (Cost $31,971) |  | 34327 |
| Total Investments in Affiliates (Cost $31,971) |  | 31971 |
| Total Investments 103.5% (Cost $1,671,444) |  | $1652737 |
| **Financial Derivative Instruments (k) (0.0)**%(Cost or Premiums, net $322) |  | (140) |
| Other Assets and Liabilities, net (3.5)% |  | (55532) |
| Net Assets 100.0% |  | $1597065 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (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.** |
| **«** | **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)** | **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.** |
| **(b)** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** |
| **(c)** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** |
| **(d)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(e)** | **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.** |
| **(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)** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $31,267 were out on loan in exchange for $31,971 of cash collateral as of March 31, 2026.** |
| **(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 | 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 |
| AmSurg Corp. | AmSurg Corp. | AmSurg Corp. | AmSurg Corp. |  |  | 11/02/2023 - 11/06/2023 | 11/02/2023 - 11/06/2023 | 884 | 884 | 884 | $ | 930 | 930 | 0.06 |
| Bruin Blocker LLC | Bruin Blocker LLC | Bruin Blocker LLC | Bruin Blocker LLC |  |  | 04/20/2021 | 04/20/2021 | 0 | 0 | 0 |  | 0 | 0 | 0.00 |
| Clover Holdings, Inc. | Clover Holdings, Inc. | Clover Holdings, Inc. | Clover Holdings, Inc. |  |  | 12/09/2024 | 12/09/2024 | 37 | 37 | 37 |  | 46 | 46 | 0.00 |
| Incora New Equity | Incora New Equity | Incora New Equity | Incora New Equity |  |  | 01/31/2025 | 01/31/2025 | 840 | 840 | 840 |  | 655 | 655 | 0.04 |
| Incora Top Holdco LLC6.000% due 01/30/2033 | Incora Top Holdco LLC6.000% due 01/30/2033 | Incora Top Holdco LLC6.000% due 01/30/2033 | Incora Top Holdco LLC6.000% due 01/30/2033 |  |  | 01/31/2025 - 01/31/2026 | 01/31/2025 - 01/31/2026 | 394 | 394 | 394 |  | 596 | 596 | 0.04 |
| Riverbed Technology, Inc. | Riverbed Technology, Inc. | Riverbed Technology, Inc. | Riverbed Technology, Inc. |  |  | 04/24/2018 - 12/07/2021 | 04/24/2018 - 12/07/2021 | 1634 | 1634 | 1634 |  | 1 | 1 | 0.00 |
|  |  |  |  |  |  |  | $ | 3789 | 3789 | $ | $ | 2228 | 0.14%  | 0.14%  |
| **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** |
| **(j)** | **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>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 3.680%  | 04/02/2026 | $50100 | 50100 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | (51105) | (51105) | (51105) | 50100 | $ | $50100 |
|  | 3.690  | 04/01/2026 | 8500 | 8500 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | (8681) | (8681) | (8681) | 8500 |  | 8501 |
|  | 3.710  | 04/01/2026 | 53600 | 53600 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | (54745) | (54745) | (54745) | 53600 |  | 53605 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  | **(114531)** | **(114531)** | **(114531)** | **112200** | **$** | $**112206** |
| <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. |
| **The average amount of borrowings outstanding during the period ended March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. 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 March 31, 2026 was $(93) at a weighted average interest rate of 3.903%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** |
| **(k)** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **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> | <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 |  | Liability |
| 3-Month SOFR Active Contract June Futures  | 3-Month SOFR Active Contract June Futures  | 3-Month SOFR Active Contract June Futures  | 09/2027 | 143 | 143 | 34479 | 161 | 161 | 161 | $ | $7 | 7 | $ | 0 |
| 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 06/2027 | 143 | 143 | 34458 | 132 | 132 | 132 |  | 11 | 11 |  | 0 |
| U.S. Treasury 5-Year Note June Futures  | U.S. Treasury 5-Year Note June Futures  | U.S. Treasury 5-Year Note June Futures  | 06/2026 | 983 | 983 | 106341 | (1034) | (1034) | (1034) |  | 138 | 138 |  | 0 |
|  |  |  |  |  |  |  | (741) | (741) | $ | $ | 156 | $ | $ | 0 |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Description | Description | Description | Description |  |  | Expiration<br>Month | 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 | Asset | Liability |
| U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | 06/2026 | 06/2026 | 111 | (23026) | (23026) | $166 | 166 | 166 | 0 | 0 | (9) |
| U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | 06/2026 | 06/2026 | 66 | (7329) | (7329) | 144 | 144 | 144 | 0 | 0 | (15) |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 06/2026 | 50 | (5676) | (5676) | 130 | 130 | 130 | 0 | 0 | (15) |
| U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 06/2026 | 44 | (5011) | (5011) | 136 | 136 | 136 | 0 | 0 | (17) |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 576 | 576 | $ | 0 | $ | (56) |
| **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** | **(165)** | **(165)** | **$** | **156** | **$** | **(56)** |
| **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> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <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>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<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 |
| Carnival Corp.  | Carnival Corp.  | Carnival Corp.  | 1.000% | 12/20/2027 | 12/20/2027 | 0.584 | 0.584 | 0.584 | % | $1000 | (100) | $ | 107 | $ | 7 | 7 | 0 | 0 |
| Carnival Corp.  | Carnival Corp.  | Carnival Corp.  | 1.000 | 06/20/2029 | 06/20/2029 | 0.955 | 0.955 | 0.955 |  | 1300 | (75) |  | 77 |  | 2 | 2 | 1 | 0 |
| Charter Communications  | Charter Communications  | Charter Communications  | 5.000 | 12/20/2030 | 12/20/2030 | 2.600 | 2.600 | 2.600 |  | 3200 | 299 |  | 21 |  | 320 | 320 | 4 | 0 |
| Discovery Global Holdings, Inc.  | Discovery Global Holdings, Inc.  | Discovery Global Holdings, Inc.  | 1.000 | 12/20/2026 | 12/20/2026 | 0.970 | 0.970 | 0.970 |  | 775 | (3) |  | 4 |  | 1 | 1 | 0 | 0 |
| MGM Resorts International  | MGM Resorts International  | MGM Resorts International  | 5.000 | 12/20/2029 | 12/20/2029 | 1.607 | 1.607 | 1.607 |  | 3200 | 456 |  | (82) |  | 374 | 374 | 6 | 0 |
| Transocean, Inc.  | Transocean, Inc.  | Transocean, Inc.  | 1.000 | 12/20/2028 | 12/20/2028 | 1.309 | 1.309 | 1.309 |  | 600 | (89) |  | 85 |  | (4) | (4) | 0 | (2) |
|  |  |  |  |  |  |  |  |  |  |  | 488 | $ | 212 | $ | 700 | 700 | 11 | (2) |
| **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> |
| Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Payment<br>Frequency | 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) |  | Market<br>Value<sup>(4)</sup> | Market<br>Value<sup>(4)</sup> | Asset | Liability |
| CDX.HY-36 5-Year Index  | CDX.HY-36 5-Year Index  | CDX.HY-36 5-Year Index  | CDX.HY-36 5-Year Index  | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 06/20/2026 | $ | 4800 | 181 | $ | (166) | $ | 15 | 15 | 2 | 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  | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 |  | 3886 | 175 |  | 36 |  | 211 | 211 | 35 | 0 |
| CDX.HY-46 5-Year Index  | CDX.HY-46 5-Year Index  | CDX.HY-46 5-Year Index  | CDX.HY-46 5-Year Index  | Quarterly | Quarterly | 06/20/2031 | 06/20/2031 | 06/20/2031 |  | 300 | 11 |  | 4 |  | 15 | 15 | 3 | 0 |
|  |  |  |  |  |  |  |  |  |  |  | 367 | $ | (126) | $ | 241 | 241 | 40 | 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** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <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 | 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 | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750% | Annual | Annual | 12/18/2026 | 12/18/2026 | 12/18/2026 | 31000 | $(334) | (334) | 325 | 325 | (9) | (9) | 0 | $(4) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 12/18/2031 | 12/18/2031 | 12/18/2031 | 8675 | (337) | (337) | 295 | 295 | (42) | (42) | 0 | (10) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 5.000 | Quarterly | Quarterly | 06/20/2031 | 06/20/2031 | 06/20/2031 | 1450 | 138 | 138 | (273) | (273) | (135) | (135) | 0 | (275) |
|  |  |  |  |  |  |  |  |  |  |  | (533) | $ | 347 | $ | (186) | (186) | 0 | (289) |
| **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** | **322** | **$** | **433** | **$** | **755** | **755** | **51** | **(291)** |
| **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $9,055 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| <sup>(1)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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. |
| <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. |

---

------

<br> Schedule of Investments PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | Loan Participations and Assignments | $0 | $20126 | $4790 | $24916 |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | Banking & Finance | 0 | 252344 | 0 | 252344 |
| Industrials | Industrials | 0 | 1135649 | 1163 | 1136812 |
| Utilities | Utilities | 0 | 87916 | 146 | 88062 |
| U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 1281 | 0 | 1281 |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Communication Services | Communication Services | 0 | 0 | 1139 | 1139 |
| Consumer Discretionary | Consumer Discretionary | 0 | 0 | 1 | 1 |
| Health Care | Health Care | 0 | 0 | 930 | 930 |
| Industrials | Industrials | 18 | 0 | 655 | 673 |
| Warrants | Warrants | Warrants | Warrants | Warrants | Warrants |
| Industrials | Industrials | 0 | 0 | 6 | 6 |
| Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |
| Industrials | Industrials | 0 | 0 | 46 | 46 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 2356 | 0 | 2356 |
| Repurchase Agreements | Repurchase Agreements | 0 | 112200 | 0 | 112200 |
|  |  | $18 | $1611872 | $8876 | $1620766 |
| **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 31971 | 0 | 0 | 31971 |
| Total Investments | Total Investments | $31989 | $1611872 | $8876 | $1652737 |
| **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 | $0 | $207 | $0 | $207 |
| **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 | $0 | $(347) | $0 | $(347) |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | $(140) | $0 | $(140) |
| Totals | Totals | $31989 | $1611732 | $8876 | $1652597 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund March 31, 2026 (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 99.6% ¤** |  |  |
| **U.S. TREASURY OBLIGATIONS 99.6%**  |  |  |
| **U.S. Treasury Inflation Protected Securities (a)** |  |  |
| 1.750% due 01/15/2028  | $19041 | $19320 |
| 2.500% due 01/15/2029  | 15979 | 16580 |
| 3.625% due 04/15/2028  | 5324 | 5600 |
| 3.875% due 04/15/2029  | 5238 | 5653 |
| 0.125% due 04/15/2027  | 22285 | 22161 |
| 0.125% due 01/15/2030  | 25710 | 24615 |
| 0.125% due 07/15/2030  | 12408 | 11815 |
| 0.125% due 01/15/2032  | 26615 | 24502 |
| 0.250% due 07/15/2029  | 16083 | 15647 |
| 0.375% due 01/15/2027  | 3846 | 3854 |
| 0.375% due 07/15/2027  | 26256 | 26255 |
| 0.500% due 01/15/2028  | 34012 | 33757 |
| 0.625% due 07/15/2032  | 2856 | 2696 |
| 0.750% due 07/15/2028  | 16256 | 16213 |
| 0.875% due 01/15/2029  | 20187 | 20045 |
| 1.125% due 10/15/2030  | 24522 | 24310 |
| 1.250% due 04/15/2028  | 20963 | 21050 |
| 1.625% due 10/15/2027  | 17208 | 17480 |
| 1.625% due 10/15/2029  | 24790 | 25190 |
| 1.625% due 04/15/2030  | 60312 | 60935 |
| 1.875% due 07/15/2034  | 44 | 44 |
| 2.125% due 04/15/2029  | 24884 | 25554 |
| 2.375% due 10/15/2028  | 13520 | 14000 |
| Total U.S. Treasury Obligations (Cost $435,869) |  | 437276 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.720% (b) | 19908 | 20 |
| Total Short-Term Instruments (Cost $20) |  | 20 |
| Total Investments in Securities (Cost $435,889) |  | 437296 |
| Total Investments 99.6% (Cost $435,889) |  | $437296 |
| Other Assets and Liabilities, net 0.4% |  | 1836 |
| Net Assets 100.0% |  | $439132 |

---

------

<br> Schedule of Investments PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **(a)** | **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.** |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| U.S. Treasury Obligations | U.S. Treasury Obligations | $0 | $437276 | $0 | $437276 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 20 | 0 | 20 |
| Total Investments | Total Investments | $0 | $437296 | $0 | $437296 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund March 31, 2026 (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 99.9% ¤** |  |  |
| **U.S. TREASURY OBLIGATIONS 99.7%**  |  |  |
| **U.S. Treasury Inflation Protected Securities (c)** |  |  |
| 0.125% due 02/15/2051  | $44073 | $23469 |
| 0.125% due 02/15/2052  | 59515 | 30934 |
| 0.250% due 02/15/2050  | 47217 | 26762 |
| 0.625% due 02/15/2043  | 73732 | 54379 |
| 0.750% due 02/15/2042  | 50150 | 38678 |
| 0.750% due 02/15/2045  | 78809 | 56681 |
| 0.875% due 02/15/2047  | 73344 | 52076 |
| 1.000% due 02/15/2046  | 80079 | 59459 |
| 1.000% due 02/15/2048  | 67362 | 48435 |
| 1.000% due 02/15/2049  | 55034 | 39001 |
| 1.375% due 02/15/2044  | 81057 | 67042 |
| 1.500% due 02/15/2053  | 58164 | 44634 |
| 2.125% due 02/15/2054  | 46156 | 40740 |
| 2.375% due 02/15/2055  | 39955 | 37175 |
| 2.375% due 02/15/2056  | 16250 | 15109 |
| Total U.S. Treasury Obligations (Cost $883,110) |  | 634574 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.2%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 3.720% (d) | 141460 | 141 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.2%**  |  |  |
| 3.696% due 04/23/2026 - 05/26/2026 (a)(b) | 1464 | 1458 |
| Total Short-Term Instruments (Cost $1,599) |  | 1599 |
| Total Investments in Securities (Cost $884,709) |  | 636173 |
| Total Investments 99.9% (Cost $884,709) |  | $636173 |
| Other Assets and Liabilities, net 0.1% |  | 481 |
| Net Assets 100.0% |  | $636654 |

---

------

<br> Schedule of Investments PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **(a)** | **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.** |
| **(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.** |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| U.S. Treasury Obligations | U.S. Treasury Obligations | $0 | $634574 | $0 | $634574 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 141 | 0 | 141 |
| U.S. Treasury Bills | U.S. Treasury Bills | 0 | 1458 | 0 | 1458 |
| Total Investments | Total Investments | $0 | $636173 | $0 | $636173 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund March 31, 2026 (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 100.1% ¤** |  |  |
| **U.S. TREASURY OBLIGATIONS 100.0%**  |  |  |
| **U.S. Treasury STRIPS (a)** |  |  |
| 0.000% due 05/15/2051  | $264591 | $74612 |
| 0.000% due 08/15/2051  | 253258 | 70644 |
| 0.000% due 11/15/2051  | 264521 | 72991 |
| 0.000% due 02/15/2052  | 280658 | 76494 |
| 0.000% due 05/15/2052  | 276347 | 74526 |
| 0.000% due 08/15/2052  | 272757 | 72704 |
| 0.000% due 11/15/2052  | 306695 | 80989 |
| 0.000% due 02/15/2053  | 315342 | 82262 |
| 0.000% due 05/15/2053  | 274985 | 70936 |
| 0.000% due 08/15/2053  | 278193 | 71064 |
| 0.000% due 11/15/2053  | 286025 | 72484 |
| 0.000% due 02/15/2054  | 205143 | 51281 |
| 0.000% due 05/15/2054  | 266108 | 65973 |
| 0.000% due 08/15/2054  | 261091 | 63883 |
| 0.000% due 11/15/2054  | 278364 | 67428 |
| 0.000% due 02/15/2055  | 313965 | 75279 |
| 0.000% due 05/15/2055  | 271733 | 64572 |
| 0.000% due 08/15/2055  | 275567 | 64882 |
| 0.000% due 11/15/2055  | 234577 | 54715 |
| 0.000% due 02/15/2056  | 296700 | 68412 |
| Total U.S. Treasury Obligations (Cost $1,717,890) |  | 1396131 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.1%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720% (b) | 1236814 | 1237 |
| Total Short-Term Instruments (Cost $1,237) |  | 1237 |
| Total Investments in Securities (Cost $1,719,127) |  | 1397368 |
| Total Investments 100.1% (Cost $1,719,127) |  | $1397368 |
| Other Assets and Liabilities, net (0.1)% |  | (1374) |
| Net Assets 100.0% |  | $1395994 |

---

------

<br> Schedule of Investments PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **(a)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(b)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| U.S. Treasury Obligations | U.S. Treasury Obligations | $0 | $1396131 | $0 | $1396131 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 1237 | 0 | 1237 |
| Total Investments | Total Investments | $0 | $1397368 | $0 | $1397368 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund March 31, 2026 (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 118.0% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 0.5%**  |  |  |
| **American Airlines, Inc.**<br>5.918% (TSFR3M + 2.250%) due 04/20/2028 ~ | $2387 | $2369 |
| **Avolon TLB Borrower 1 U.S. LLC**<br>5.425% (TSFR1M + 1.750%) due 06/24/2030 ~ | 1245 | 1249 |
| **Castlelake LP**<br>2.950% due 05/12/2031 «~ | 3930 | 3683 |
| **Ecopetrol SA**<br>TBD% due 12/18/2027 « | 10000 | 9900 |
| **Nscale AS**<br>TBD% - 8.700% (TSFR3M + 5.000%) due 08/11/2032 «~µ | 20000 | 20000 |
| **Quikrete Holdings, Inc.**<br>5.918% (TSFR1M + 2.250%) due 02/10/2032 ~ | 990 | 989 |
| **SkyMiles IP Ltd.**<br>5.168% (TSFR3M + 1.500%) due 10/20/2028 ~ | 1349 | 1357 |
| **Virgin Media Investment Holdings Ltd.**<br>6.978% due 08/01/2030 «~ | 1000 | 1271 |
| Total Loan Participations and Assignments (Cost $41,083) |  | 40818 |
| **CORPORATE BONDS & NOTES 23.2%**  |  |  |
| **BANKING & FINANCE 15.9%**  |  |  |
| **123 Lights Re Ltd.** <br>14.510% (FHMMUSTF + 11.000%) due 09/14/2031 ~ | $250 | 258 |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**  |  |  |
| 2.450% due 10/29/2026  | 7934 | 7848 |
| 5.100% due 01/19/2029  | 2700 | 2736 |
| **Air Lease Corp.** <br>2.875% due 01/15/2032 | 210 | 186 |
| **Aircastle Ltd.** <br>5.950% due 02/15/2029 | 5000 | 5138 |
| **Alamo Re Ltd.** <br>12.590% (FHMMUSTF + 9.080%) due 06/07/2026 ~ | 250 | 253 |
| **Ally Financial, Inc.**  |  |  |
| 6.184% due 07/26/2035 •  | 6250 | 6272 |
| 6.848% due 01/03/2030 •  | 3100 | 3236 |
| **American Assets Trust LP**  |  |  |
| 3.375% due 02/01/2031  | 1100 | 992 |
| 6.150% due 10/01/2034  | 11350 | 11263 |
| **American Homes 4 Rent LP** <br>5.500% due 02/01/2034 | 1700 | 1716 |
| **American National Global Funding**  |  |  |
| 4.625% due 12/15/2028  | 5100 | 5063 |
| 4.875% due 01/23/2031  | 9000 | 8816 |
| **American National Group, Inc.** <br>5.750% due 10/01/2029 | 3600 | 3640 |
| **Americold Realty Operating Partnership LP** <br>5.409% due 09/12/2034 | 5900 | 5622 |
| **Antares Holdings LP**  |  |  |
| 3.750% due 07/15/2027  | 3700 | 3597 |
| 3.950% due 07/15/2026  | 1000 | 997 |
| 6.350% due 10/23/2029  | 5900 | 5843 |
| 6.500% due 02/08/2029  | 1200 | 1202 |
| 7.950% due 08/11/2028  | 1100 | 1141 |
| **ARES Capital Corp.** <br>5.875% due 03/01/2029 | 3000 | 3022 |
| **ARES Management Corp.** <br>6.375% due 11/10/2028 | 6000 | 6239 |
| **ARES Strategic Income Fund** <br>5.600% due 02/15/2030 | 5000 | 4868 |
| **Armor RE II Ltd.** <br>12.060% (BRMMUSDF + 8.500%) due 01/07/2032 ~ | 250 | 265 |
| **Aspen Insurance Holdings Ltd.** <br>5.750% due 07/01/2030 | 3300 | 3406 |
| **Athene Global Funding** <br>5.516% due 03/25/2027 | 2000 | 2017 |
| **Aviation Capital Group LLC** <br>6.750% due 10/25/2028 | 5200 | 5445 |
| **Avolon Holdings Funding Ltd.**  |  |  |
| 4.200% due 04/15/2029  | 4000 | 3926 |
| 4.950% due 10/15/2032  | 6700 | 6528 |
| 5.750% due 03/01/2029  | 3000 | 3069 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Banco Bilbao Vizcaya Argentaria SA** <br>5.381% due 03/13/2029 | 6000 | 6162 |
| **Banco Santander SA**  |  |  |
| 2.958% due 03/25/2031  | 2200 | 2018 |
| 6.033% due 01/17/2035  | 3200 | 3347 |
| **Bank of America Corp.**  |  |  |
| 4.948% due 07/22/2028 •  | 4000 | 4027 |
| 5.202% due 04/25/2029 •  | 8400 | 8521 |
| 5.288% due 04/25/2034 •  | 10550 | 10682 |
| 5.464% due 05/09/2036 •  | 415 | 423 |
| 5.511% due 01/24/2036 •  | 4000 | 4081 |
| 5.872% due 09/15/2034 •  | 20150 | 21107 |
| **Barclays PLC**  |  |  |
| 5.690% due 03/12/2030 •  | 7500 | 7708 |
| 5.785% due 02/25/2036 •  | 2800 | 2832 |
| 7.385% due 11/02/2028 •  | 7000 | 7292 |
| 7.437% due 11/02/2033 •  | 7400 | 8278 |
| **BGC Group, Inc.**  |  |  |
| 6.150% due 04/02/2030  | 6987 | 7110 |
| 6.600% due 06/10/2029  | 2800 | 2890 |
| **Blue Cross & Blue Shield of Minnesota**  |  |  |
| 4.850% due 09/30/2030 «(j)  | 3800 | 3741 |
| 5.960% due 04/30/2032 «(j)  | 4000 | 3981 |
| **Blue Owl Capital Corp.** <br>5.950% due 03/15/2029 | 2000 | 1977 |
| **Blue Owl Finance LLC**  |  |  |
| 4.375% due 02/15/2032  | 2000 | 1783 |
| 6.250% due 04/18/2034  | 3900 | 3752 |
| **Blue Ridge Re Ltd.**  |  |  |
| 7.010% (FHMMUSTF + 3.500%) due 01/08/2029 ~  | 250 | 252 |
| 8.760% (FHMMUSTF + 5.250%) due 01/08/2031 ~  | 2000 | 2019 |
| 9.510% (FHMMUSTF + 6.000%) due 01/08/2029 ~  | 250 | 247 |
| 11.500% (FHMMUSTF + 7.990%) due 01/08/2031 ~  | 2000 | 2035 |
| 11.510% (FHMMUSTF + 8.000%) due 01/08/2029 ~  | 250 | 246 |
| **BNP Paribas SA**  |  |  |
| 2.591% due 01/20/2028 •  | 7500 | 7386 |
| 5.786% due 01/13/2033 •  | 6800 | 7032 |
| **Boston Properties LP**  |  |  |
| 2.450% due 10/01/2033  | 4700 | 3805 |
| 2.550% due 04/01/2032  | 2400 | 2060 |
| **BPCE SA** <br>5.716% due 01/18/2030 •  | 5000 | 5126 |
| **Brandywine Operating Partnership LP**  |  |  |
| 3.950% due 11/15/2027  | 300 | 288 |
| 8.300% due 03/15/2028  | 100 | 102 |
| **Broadstone Net Lease LLC** <br>5.000% due 11/01/2032 | 2300 | 2263 |
| **Brookfield Finance, Inc.** <br>6.350% due 01/05/2034 | 9900 | 10500 |
| **Brown & Brown, Inc.** <br>4.200% due 03/17/2032 | 1000 | 945 |
| **CaixaBank SA**  |  |  |
| 5.673% due 03/15/2030 •  | 5000 | 5138 |
| 6.037% due 06/15/2035 •  | 10250 | 10680 |
| **Cantor Fitzgerald LP** <br>7.200% due 12/12/2028 | 6500 | 6756 |
| **Cape Lookout Re Ltd.**  |  |  |
| 8.760% (FHMMUSTF + 5.250%) due 03/21/2033 ~  | 300 | 300 |
| 9.510% (FHMMUSTF + 6.000%) due 03/21/2033 ~  | 300 | 300 |
| 10.410% (FHMMUSTF + 6.900%) due 03/13/2032 ~  | 1500 | 1566 |
| 12.239% (GSMMUSTF + 8.702%) due 04/05/2027 ~  | 2100 | 2133 |
| **Capital One Financial Corp.**  |  |  |
| 7.149% due 10/29/2027 •  | 2000 | 2028 |
| 7.964% due 11/02/2034 •  | 6400 | 7345 |
| **CI Financial Corp.** <br>4.625% due 12/12/2031 | 6200 | 7178 |
| **Citadel Finance LLC**  |  |  |
| 4.750% due 02/14/2029  | $3600 | 3530 |
| 5.900% due 02/10/2030  | 5900 | 5931 |
| **Citadel LP** <br>6.375% due 01/23/2032 | 5600 | 5807 |
| **Citadel Securities Global Holdings LLC** <br>5.500% due 06/18/2030 | 2500 | 2541 |
| **Citigroup, Inc.**  |  |  |
| 2.976% due 11/05/2030 •  | 2700 | 2551 |
| 3.785% due 03/17/2033 •  | 2500 | 2346 |
| 4.075% due 04/23/2029 •  | 1000 | 993 |
| 6.270% due 11/17/2033 •  | 7000 | 7485 |
| **Citrus Re Ltd.**  |  |  |
| 8.922% (T-BILL 3MO + 5.250%) due 06/07/2033 ~  | 250 | 250 |
| 9.910% (T-BILL 3MO + 6.250%) due 06/07/2033 ~  | 250 | 250 |
| **CNO Global Funding**  |  |  |
| 4.700% due 12/11/2030  | 7800 | 7703 |
| 4.950% due 09/09/2029  | 3700 | 3721 |
| **Commonwealth RE Ltd.** <br>7.417% (JMMMUSTF + 3.857%) due 07/08/2030 ~ | 500 | 503 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Constellation Global Funding** <br>4.850% due 10/22/2030 | 3200 | 3140 |
| **Corebridge Global Funding** <br>4.508% (SOFRRATE + 0.860%) due 12/15/2028 ~ | 6700 | 6690 |
| **CORP0HRG0** <br>5.330% due 06/07/2035 «(j) | 700 | 706 |
| **Cousins Properties LP** <br>5.250% due 07/15/2030 | 3200 | 3243 |
| **Credit Agricole SA** <br>5.862% due 01/09/2036 •  | 7200 | 7420 |
| **Credit Suisse AG AT1 Claim** | 8900 | 3115 |
| **Crown Castle, Inc.** <br>5.800% due 03/01/2034 | 8100 | 8299 |
| **Deloitte LLP**  |  |  |
| 5.410% due 01/30/2032 «(j)  | 1200 | 1204 |
| 5.590% due 01/30/2035 «(j)  | 1100 | 1095 |
| 5.690% due 01/30/2037 «(j)  | 500 | 495 |
| 5.790% due 01/30/2040 «(j)  | 900 | 884 |
| 5.970% due 01/30/2045 «(j)  | 900 | 869 |
| **Deutsche Bank AG**  |  |  |
| 2.311% due 11/16/2027 •  | 4500 | 4439 |
| 2.552% due 01/07/2028 •  | 6500 | 6400 |
| 3.547% due 09/18/2031 •  | 200 | 188 |
| 5.706% due 02/08/2028 •  | 1500 | 1513 |
| 6.720% due 01/18/2029 •  | 2500 | 2591 |
| 6.819% due 11/20/2029 •  | 1500 | 1575 |
| **Doctors Co. An Interinsurance Exchange** <br>4.500% due 01/18/2032 | 8450 | 7701 |
| **East Lane Re VII Ltd.** <br>12.160% (BRMMUSDF + 8.500%) due 03/31/2032 ~ | 500 | 501 |
| **Essex Portfolio LP**  |  |  |
| 5.375% due 04/01/2035  | 500 | 504 |
| 5.500% due 04/01/2034  | 1750 | 1775 |
| **Extra Space Storage LP** <br>5.900% due 01/15/2031 | 2100 | 2195 |
| **F&G Global Funding** <br>5.875% due 01/16/2030 | 4000 | 4055 |
| **Fairfax Financial Holdings Ltd.**  |  |  |
| 5.625% due 08/16/2032  | 2200 | 2259 |
| 5.750% due 05/20/2035  | 8150 | 8357 |
| 6.350% due 03/22/2054  | 2000 | 2022 |
| **Farmers Insurance Exchange**  |  |  |
| 4.747% due 11/01/2057 •  | 2000 | 1688 |
| 7.000% due 10/15/2064 •  | 1900 | 1907 |
| **Fidelity National Financial, Inc.** <br>2.450% due 03/15/2031 | 2793 | 2466 |
| **First American Financial Corp.**  |  |  |
| 2.400% due 08/15/2031  | 2000 | 1724 |
| 4.000% due 05/15/2030  | 1200 | 1145 |
| 5.450% due 09/30/2034  | 4700 | 4609 |
| **Ford Motor Credit Co. LLC**  |  |  |
| 4.950% due 05/28/2027  | 4000 | 4000 |
| 5.800% due 03/08/2029  | 4400 | 4451 |
| 5.850% due 05/17/2027  | 1000 | 1008 |
| 6.050% due 03/05/2031  | 5000 | 5047 |
| 6.798% due 11/07/2028  | 7300 | 7559 |
| 7.350% due 11/04/2027  | 700 | 723 |
| **Freedom Mortgage Holdings LLC** <br>8.375% due 04/01/2032 | 6100 | 6007 |
| **FS KKR Capital Corp.**  |  |  |
| 6.875% due 08/15/2029  | 3800 | 3737 |
| 7.875% due 01/15/2029  | 3500 | 3541 |
| **GA Global Funding Trust**  |  |  |
| 4.500% due 09/18/2030  | 4750 | 4577 |
| 5.500% due 01/08/2029  | 3000 | 3038 |
| 5.900% due 01/13/2035  | 15250 | 15143 |
| **Gateway Re Ltd.** <br>5.560% (BRMMUSDF + 2.000%) due 07/06/2029 ~ | 750 | 750 |
| **Global Atlantic Fin Co.** <br>4.400% due 10/15/2029 | 3400 | 3290 |
| **GLP Capital LP/GLP Financing II, Inc.**  |  |  |
| 3.250% due 01/15/2032  | 1500 | 1339 |
| 5.250% due 02/15/2033  | 2500 | 2453 |
| 5.300% due 01/15/2029  | 1600 | 1619 |
| 5.625% due 09/15/2034  | 2200 | 2168 |
| 5.750% due 11/01/2037  | 1000 | 969 |
| 6.250% due 09/15/2054  | 2400 | 2331 |
| 6.750% due 12/01/2033  | 4100 | 4322 |
| **Golden Bear Re Ltd.**  |  |  |
| 13.162% (T-BILL 1MO + 9.500%) due 03/08/2032 ~  | 500 | 500 |
| 13.412% (JMMMUSTF + 9.750%) due 01/08/2029 ~  | 1000 | 1018 |
| **Goldman Sachs Group, Inc.**  |  |  |
| 3.102% due 02/24/2033 •  | 10450 | 9441 |
| 4.482% due 08/23/2028 •  | 10000 | 10002 |
| 4.939% due 10/21/2036 •  | 4300 | 4166 |
| 5.330% due 07/23/2035 •  | 6550 | 6574 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.498% (SOFRRATE + 1.850%) due 03/15/2028 ~  | 3000 | 3036 |
| 5.536% due 01/28/2036 •  | 18650 | 18966 |
| 5.851% due 04/25/2035 •  | 6950 | 7214 |
| **Golub Capital BDC, Inc.** <br>6.000% due 07/15/2029 | 6000 | 5983 |
| **Golub Capital Private Credit Fund**  |  |  |
| 0.000% due 08/15/2028  | 4000 | 3946 |
| 5.875% due 05/01/2030  | 2000 | 1964 |
| **Goodman U.S. Finance Five LLC** <br>4.625% due 05/04/2032 | 2500 | 2461 |
| **Greengrove RE Ltd.** <br>11.290% (BNMMDTSC + 7.750%) due 04/08/2032 ~ | 400 | 415 |
| **HA Sustainable Infrastructure Capital, Inc.** <br>6.375% due 07/01/2034 | 2500 | 2518 |
| **Handshake Re Ltd.** <br>8.060% (JMMMUSTF + 4.500%) due 01/08/2030 ~ | 250 | 249 |
| **Hanover Insurance Group, Inc.** <br>5.500% due 09/01/2035 | 3600 | 3578 |
| **Hardwood Funding LLC** <br>5.160% due 06/07/2032 «(j) | 1500 | 1510 |
| **Herbie Re Ltd.** <br>7.780% (MSMMUSTF + 4.250%) due 01/07/2030 ~ | 250 | 250 |
| **Host Hotels & Resorts LP**  |  |  |
| 2.900% due 12/15/2031  | 2000 | 1779 |
| 5.500% due 04/15/2035  | 10350 | 10274 |
| **HPS Corporate Lending Fund** <br>4.900% due 09/11/2028 | 4800 | 4679 |
| **HSBC Holdings PLC**  |  |  |
| 5.402% due 08/11/2033 •  | 4400 | 4471 |
| 5.719% due 03/04/2035 •  | 8300 | 8521 |
| 6.254% due 03/09/2034 •  | 10600 | 11237 |
| **ING Groep NV**  |  |  |
| 3.875% due 05/16/2027 •(g)(i)  | 600 | 580 |
| 4.250% due 05/16/2031 •(g)(i)  | 600 | 522 |
| 5.335% due 03/19/2030 •  | 10000 | 10214 |
| **Integrity RE III Ltd.** <br>6.010% (FHMMUSTF + 2.500%) due 06/07/2029 ~ | 500 | 500 |
| **Integrity Re Ltd.**  |  |  |
| 14.064% (FHMMUSTF + 10.554%) due 06/06/2026 ~  | 250 | 254 |
| 20.744% (FHMMUSTF + 17.234%) due 06/08/2026 ~  | 2000 | 2059 |
| **Invitation Homes Operating Partnership LP**  |  |  |
| 4.875% due 02/01/2035  | 1500 | 1432 |
| 5.450% due 08/15/2030  | 5000 | 5080 |
| **Jackson National Life Global Funding**  |  |  |
| 4.598% (SOFRRATE + 0.950%) due 09/12/2028 ~  | 15000 | 14995 |
| 4.638% (SOFRRATE + 0.970%) due 01/14/2028 ~  | 3100 | 3096 |
| **Jane Street Group/JSG Finance, Inc.** <br>7.125% due 04/30/2031 | 1500 | 1543 |
| **Jones Lang LaSalle, Inc.** <br>6.875% due 12/01/2028 | 3600 | 3801 |
| **JPMorgan Chase & Co.**  |  |  |
| 2.963% due 01/25/2033 •  | 2950 | 2677 |
| 4.565% due 06/14/2030 •  | 12050 | 12064 |
| 5.350% due 06/01/2034 •  | 18550 | 18935 |
| 5.572% due 04/22/2036 •  | 20600 | 21236 |
| 5.766% due 04/22/2035 •  | 11250 | 11722 |
| 6.254% due 10/23/2034 •  | 2000 | 2151 |
| **KBC Group NV** <br>6.324% due 09/21/2034 •  | 5200 | 5565 |
| **Kilroy Realty LP** <br>3.050% due 02/15/2030 | 2000 | 1824 |
| **Kizuna RE III Pte. Ltd.** <br>6.412% (T-BILL 3MO + 2.750%) due 04/09/2029 ~ | 603 | 614 |
| **KKR Financial Holdings LLC** <br>5.400% due 05/23/2033 | 6000 | 5670 |
| **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.** <br>5.500% due 08/01/2030 | 1400 | 1404 |
| **Lazard Group LLC**  |  |  |
| 5.625% due 08/01/2035  | 5600 | 5591 |
| 6.000% due 03/15/2031  | 6950 | 7223 |
| **Liberty Mutual Group, Inc.**  |  |  |
| 4.125% due 12/15/2051 •  | 4000 | 3908 |
| 4.300% due 02/01/2061  | 4800 | 3006 |
| **Lineage OP LP** <br>5.250% due 07/15/2030 | 2200 | 2196 |
| **Lloyds Banking Group PLC**  |  |  |
| 4.976% due 08/11/2033 •(l)  | 8700 | 8667 |
| 5.871% due 03/06/2029 •  | 3000 | 3075 |
| **Locke Tavern Re Ltd.**  |  |  |
| 4.060% (JMMMUSTF + 3.250%) due 04/11/2033 ~  | 250 | 250 |
| 4.060% (JMMMUSTF + 4.250%) due 04/11/2033 ~  | 250 | 250 |
| **Low Income Investment Fund** <br>3.711% due 07/01/2029 | 2500 | 2418 |
| **LPL Holdings, Inc.**  |  |  |
| 5.150% due 06/15/2030  | 4400 | 4424 |
| 5.750% due 06/15/2035  | 900 | 897 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.750% due 11/17/2028  | 5250 | 5504 |
| **Lseg U.S. Fin Corp.** <br>5.297% due 03/28/2034 | 1700 | 1712 |
| **Luca RE Ltd.** <br>10.810% (JMMMUSTF + 7.250%) due 07/22/2031 ~ | 700 | 721 |
| **Main Street Capital Corp.** <br>6.950% due 03/01/2029 | 3100 | 3190 |
| **Maple Grove Funding Trust I** <br>4.161% due 08/15/2051 | 4500 | 3263 |
| **Marex Group PLC** <br>5.829% due 05/08/2028 | 4000 | 4044 |
| **Mayflower Re Ltd.**  |  |  |
| 8.555% (FHMMUSTF + 5.045%) due 07/08/2030 ~  | 500 | 505 |
| 10.023% (FHMMUSTF + 6.513%) due 07/08/2030 ~  | 250 | 253 |
| **Mitsubishi UFJ Financial Group, Inc.** <br>5.441% due 02/22/2034 •  | 200 | 205 |
| **MMcapS Funding XVIII Ltd.** <br>4.262% (US0003M + 0.290%) due 12/26/2039 ~ | 495 | 485 |
| **MMIFS Re Ltd.** <br>5.151% (CAONINDX + 2.900%) due 01/10/2033 ~ | 250 | 180 |
| **Morgan Stanley**  |  |  |
| 0.000% due 04/02/2032 þ(j)  | $9000 | 6706 |
| 2.511% due 10/20/2032 •  | 1700 | 1502 |
| 3.622% due 04/01/2031 •  | 3250 | 3117 |
| 5.164% due 04/20/2029 •  | 2000 | 2023 |
| 5.173% due 01/16/2030 •  | 3250 | 3296 |
| 5.664% due 04/17/2036 •  | 17860 | 18300 |
| 6.296% due 10/18/2028 •  | 19500 | 20015 |
| **Nature Coast Re Ltd.**  |  |  |
| 11.661% (T-BILL 3MO + 8.000%) due 02/26/2030 ~  | 400 | 399 |
| 13.291% (GSMMUSTI + 9.750%) due 04/10/2033 ~  | 300 | 311 |
| **NatWest Group PLC** <br>4.600% due 06/28/2031 •(g)(i) | 200 | 179 |
| **Nissan Motor Acceptance Co. LLC**  |  |  |
| 1.850% due 09/16/2026  | 4500 | 4425 |
| 5.300% due 09/13/2027  | 1400 | 1392 |
| **NMI Holdings, Inc.** <br>6.000% due 08/15/2029 | 4700 | 4811 |
| **Nomura Holdings, Inc.**  |  |  |
| 1.653% due 07/14/2026  | 1000 | 993 |
| 6.070% due 07/12/2028  | 3100 | 3198 |
| **Oaktree Strategic Credit Fund** <br>6.500% due 07/23/2029 | 1300 | 1304 |
| **Omega Healthcare Investors, Inc.** <br>4.750% due 01/15/2028 | 1350 | 1349 |
| **OneMain Finance Corp.** <br>6.625% due 01/15/2028 | 1300 | 1310 |
| **Orange Capital RE DAC** <br>8.026% (EUR003M + 6.000%) due 01/17/2029 ~ | 250 | 304 |
| **Pacific Life Insurance Co.** <br>9.250% due 06/15/2039 | $5000 | 6683 |
| **Palm RE Ltd.** <br>11.290% (BNMMDTSC + 7.750%) due 06/07/2032 ~ | 250 | 258 |
| **Polestar Re Ltd.**  |  |  |
| 10.661% (BRMMUSDF + 7.000%) due 01/08/2029 ~  | 250 | 251 |
| 12.661% (BRMMUSDF + 9.000%) due 01/08/2029 ~  | 250 | 250 |
| 14.150% (BRMMUSDF + 10.590%) due 01/07/2028 ~  | 600 | 629 |
| 14.161% (BRMMUSDF + 10.500%) due 01/08/2029 ~  | 250 | 251 |
| 16.810% (BRMMUSDF + 13.250%) due 01/07/2027 ~  | 2300 | 2378 |
| **Preferred Term Securities XXIV Ltd./Preferred Term Securities XXIV, Inc.** <br>4.236% (US0003M + 0.300%) due 03/22/2037 ~ | 1461 | 1398 |
| **Prologis Targeted U.S. Logistics Fund LP** <br>5.250% due 04/01/2029 | 4400 | 4486 |
| **Protective Life Corp.**  |  |  |
| 4.700% due 01/15/2031  | 9150 | 9073 |
| 5.350% due 12/15/2035  | 2750 | 2704 |
| **Prudential Financial, Inc.** <br>6.500% due 03/15/2054 •  | 2800 | 2869 |
| **Purple Re Ltd.**  |  |  |
| 6.060% (JMMMUSTF + 2.500%) due 06/07/2033 ~  | 250 | 250 |
| 14.140% (JMMMUSTF + 10.580%) due 06/05/2026 ~  | 600 | 610 |
| **Quercus II Re DAC** <br>13.079% (EUR003M + 11.000%) due 01/07/2031 ~ | 300 | 347 |
| **Quercus Re DAC** <br>10.020% (EUR003M + 8.000%) due 01/06/2031 ~ | 250 | 299 |
| **Realty Income Corp.** <br>4.450% due 09/15/2026 | $700 | 700 |
| **RGA Global Funding** <br>4.600% due 11/25/2030 | 10100 | 9997 |
| **Rocket Cos., Inc.** <br>7.125% due 02/01/2032 | 1200 | 1238 |
| **Royal Bank of Scotland International Ltd.** <br>4.660% due 12/16/2028 «(j) | 12000 | 11846 |
| **Sammons Financial Group Global Funding**  |  |  |
| 4.504% due 09/02/2027 •  | 3000 | 3013 |
| 4.800% due 12/12/2030  | 5100 | 5061 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.100% due 12/10/2029  | 1500 | 1516 |
| **Sammons Financial Group, Inc.** <br>6.875% due 04/15/2034 | 14140 | 14993 |
| **Sanders Re III Ltd.** <br>11.280% (BRMMUSDF + 7.720%) due 06/05/2029 ~ | 1750 | 1770 |
| **Santander Holdings USA, Inc.**  |  |  |
| 5.353% due 09/06/2030 •  | 2800 | 2831 |
| 6.499% due 03/09/2029 •  | 1700 | 1754 |
| 6.565% due 06/12/2029 •  | 3000 | 3105 |
| **Santander U.K. Group Holdings PLC**  |  |  |
| 2.896% due 03/15/2032 •  | 3900 | 3539 |
| 5.136% due 09/22/2036 •  | 2200 | 2125 |
| 6.534% due 01/10/2029 •  | 8000 | 8257 |
| **SBL Holdings, Inc.**  |  |  |
| 5.900% due 09/26/2028  | 4000 | 3777 |
| 7.200% due 10/30/2034  | 2401 | 2102 |
| **Selective Insurance Group, Inc.** <br>5.900% due 04/15/2035 | 4800 | 4949 |
| **Sixth Street Lending Partners**  |  |  |
| 5.750% due 01/15/2030  | 3000 | 2957 |
| 6.125% due 07/15/2030  | 1000 | 995 |
| **SMBC Aviation Capital Finance DAC** <br>5.250% due 11/26/2035 | 21100 | 20615 |
| **Societe Generale SA** <br>6.446% due 01/10/2029 •  | 3300 | 3398 |
| **Stellantis Finance U.S., Inc.** <br>6.450% due 03/18/2035 | 20300 | 20008 |
| **Stellantis Financial Services U.S. Corp.** <br>4.950% due 09/15/2028 | 2700 | 2686 |
| **Store Capital LLC** <br>4.950% due 02/11/2031 | 3200 | 3174 |
| **Sumitomo Mitsui Financial Group, Inc.**  |  |  |
| 5.520% due 01/13/2028  | 2000 | 2041 |
| 5.766% due 01/13/2033  | 3000 | 3124 |
| **Takeoff Merger Sub, Inc.**  |  |  |
| 4.400% due 03/24/2028  | 3800 | 3781 |
| 4.850% due 03/24/2031  | 5000 | 4939 |
| **Texas New Mexico PR 1st Mortgage**  |  |  |
| 4.830% due 07/31/2030 «(j)  | 7500 | 7473 |
| 5.120% due 07/31/2032 «(j)  | 5000 | 4993 |
| **Toronto-Dominion Bank** <br>4.783% due 12/17/2029 | 500 | 506 |
| **Torrey Pines Re Ltd.**  |  |  |
| 9.596% (JMMMUSTF + 6.036%) due 06/07/2032 ~  | 600 | 620 |
| 10.666% (JMMMUSTF + 7.106%) due 06/07/2032 ~  | 300 | 311 |
| 12.938% (BRMMUSDF + 9.378%) due 06/05/2031 ~  | 250 | 252 |
| **Tremont Re Ltd.** <br>7.661% (T-BILL 1MO + 4.000%) due 03/22/2033 ~ | 250 | 250 |
| **Trust 2401**  |  |  |
| 4.869% due 01/15/2030  | 3232 | 3114 |
| 6.950% due 01/30/2044  | 300 | 291 |
| **Trust Fibra Uno** <br>4.869% due 01/15/2030 | 1668 | 1601 |
| **UBS AG** <br>5.000% due 07/09/2027 | 3500 | 3532 |
| **UBS Group AG**  |  |  |
| 6.301% due 09/22/2034 •  | 15900 | 16910 |
| 9.016% due 11/15/2033 •  | 2300 | 2803 |
| **Unum Group** <br>5.250% due 12/15/2035 | 8450 | 8276 |
| **Ursa Re II Ltd.**  |  |  |
| 8.661% (MSMMUSTF + 5.000%) due 12/07/2029 ~  | 250 | 248 |
| 11.411% (MSMMUSTF + 7.750%) due 06/07/2028 ~  | 500 | 505 |
| **Ursa Re Ltd.** <br>11.041% (GSMMUSTI + 7.500%) due 02/22/2028 ~ | 1000 | 1022 |
| **Veraison Re Ltd.**  |  |  |
| 6.441% (GSMMUSTI + 2.900%) due 03/08/2029 ~  | 300 | 300 |
| 7.691% (GSMMUSTI + 4.150%) due 03/08/2034 ~  | 250 | 250 |
| 8.541% (GSMMUSTI + 5.000%) due 03/08/2033 ~  | 250 | 254 |
| **VICI Properties LP** <br>5.750% due 04/01/2034 | 2800 | 2827 |
| **VICI Properties LP/VICI Note Co., Inc.**  |  |  |
| 3.750% due 02/15/2027  | 100 | 99 |
| 4.125% due 08/15/2030  | 2300 | 2203 |
| 5.750% due 02/01/2027  | 280 | 282 |
| **Vitality Re XVI Ltd.**  |  |  |
| 5.280% (MSMMUSTF + 1.750%) due 01/08/2030 ~  | 250 | 249 |
| 7.280% (MSMMUSTF + 3.750%) due 01/08/2030 ~  | 250 | 249 |
| **Vitality Re XVII Ltd.**  |  |  |
| 5.541% (GSMMUSTI + 2.000%) due 01/08/2031 ~  | 700 | 700 |
| 5.941% (GSMMUSTI + 2.400%) due 01/08/2031 ~  | 300 | 300 |
| 7.541% (GSMMUSTI + 4.000%) due 01/08/2031 ~  | 250 | 250 |
| **Wells Fargo & Co.**  |  |  |
| 4.892% due 09/15/2036 •  | 2000 | 1947 |
| 4.897% due 07/25/2033 •  | 22450 | 22345 |
| 5.557% due 07/25/2034 •  | 18550 | 19017 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.605% due 04/23/2036 •  | 10000 | 10237 |
| **Western-Southern Global Funding** <br>4.700% due 12/10/2032 | 9200 | 8972 |
| **Windmill III Re DAC** <br>7.236% (EUR003M + 5.210%) due 07/05/2028 ~ | 250 | 299 |
| **Windrose Re Ltd.** <br>8.790% (HSMMUSTF + 5.250%) due 02/11/2033 ~ | $250 | 249 |
| **Winston RE Ltd.**  |  |  |
| 10.040% (BNMMDTSC + 6.500%) due 02/21/2028 ~  | 250 | 256 |
| 15.230% (BNMMDTSC + 11.690%) due 02/26/2031 ~  | 4000 | 4175 |
|  |  | 1233288 |
| **INDUSTRIALS 5.2%**  |  |  |
| **Air Canada** <br>3.875% due 08/15/2026 | 1000 | 996 |
| **Air Canada Pass-Through Trust**  |  |  |
| 3.300% due 07/15/2031  | 554 | 531 |
| 5.250% due 10/01/2030  | 1265 | 1283 |
| **American Airlines Pass-Through Trust**  |  |  |
| 3.375% due 11/01/2028  | 6424 | 6346 |
| 3.700% due 04/01/2028  | 1361 | 1357 |
| 4.900% due 11/11/2039  | 5200 | 5078 |
| **American Airlines, Inc./AAdvantage Loyalty IP Ltd.**  |  |  |
| 5.500% due 04/20/2026  | 75 | 75 |
| 5.750% due 04/20/2029  | 1400 | 1393 |
| **Ashtead Capital, Inc.** <br>5.800% due 04/15/2034 | 3000 | 3060 |
| **Bacardi Ltd.** <br>5.150% due 05/15/2038 | 200 | 185 |
| **Bayer U.S. Finance II LLC** <br>4.375% due 12/15/2028 | 13402 | 13270 |
| **Bayer U.S. Finance LLC**  |  |  |
| 6.375% due 11/21/2030  | 1200 | 1262 |
| 6.500% due 11/21/2033  | 2750 | 2926 |
| 6.875% due 11/21/2053  | 2500 | 2636 |
| **Beignet Investor LLC** <br>6.581% due 05/30/2049 | 82100 | 84475 |
| **Boeing Co.**  |  |  |
| 3.625% due 02/01/2031  | 3000 | 2854 |
| 6.259% due 05/01/2027  | 1300 | 1323 |
| 6.298% due 05/01/2029  | 1700 | 1785 |
| 6.388% due 05/01/2031  | 1300 | 1387 |
| 6.528% due 05/01/2034  | 1100 | 1199 |
| 6.858% due 05/01/2054  | 1800 | 1983 |
| 7.008% due 05/01/2064  | 1000 | 1107 |
| **Booz Allen Hamilton, Inc.** <br>5.950% due 04/15/2035 | 2100 | 2118 |
| **Broadcom, Inc.**  |  |  |
| 2.450% due 02/15/2031  | 10250 | 9311 |
| 4.150% due 04/15/2032  | 2000 | 1936 |
| **CDW LLC/CDW Finance Corp.** <br>5.550% due 08/22/2034 | 5700 | 5604 |
| **Centene Corp.**  |  |  |
| 2.500% due 03/01/2031  | 4100 | 3443 |
| 2.625% due 08/01/2031  | 1400 | 1171 |
| 3.000% due 10/15/2030  | 5400 | 4736 |
| **Charter Communications Operating LLC/Charter Communications Operating Capital**  |  |  |
| 2.800% due 04/01/2031  | 2100 | 1886 |
| 6.384% due 10/23/2035  | 2200 | 2236 |
| **Cheniere Energy Partners LP** <br>3.250% due 01/31/2032 (l) | 2250 | 2051 |
| **Choice Hotels International, Inc.**  |  |  |
| 3.700% due 01/15/2031  | 2000 | 1878 |
| 5.850% due 08/01/2034  | 3900 | 3939 |
| **Cornell University** <br>4.169% due 06/15/2030 | 4000 | 3973 |
| **CVS Health Corp.**  |  |  |
| 4.875% due 07/20/2035  | 1200 | 1155 |
| 5.050% due 03/25/2048  | 500 | 429 |
| 6.200% due 09/15/2055  | 700 | 694 |
| **Delta Air Lines Pass-Through Trust** <br>2.000% due 12/10/2029 | 940 | 909 |
| **Delta Air Lines, Inc.** <br>3.750% due 10/28/2029 | 3400 | 3274 |
| **Delta Air Lines, Inc./SkyMiles IP Ltd.** <br>4.750% due 10/20/2028 | 1833 | 1831 |
| **Diamondback Energy, Inc.** <br>5.550% due 04/01/2035 | 2700 | 2756 |
| **El Paso Natural Gas Co. LLC** <br>3.500% due 02/15/2032 | 1900 | 1751 |
| **Enbridge, Inc.** <br>6.200% due 11/15/2030 | 2150 | 2277 |
| **Energy Transfer LP**  |  |  |
| 4.900% due 03/15/2035  | 1200 | 1161 |
| 5.250% due 07/01/2029  | 9700 | 9914 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.350% due 05/15/2045  | 600 | 537 |
| 5.600% due 09/01/2034  | 600 | 612 |
| 5.700% due 04/01/2035  | 1500 | 1541 |
| 5.950% due 05/15/2054  | 3700 | 3473 |
| 6.000% due 06/15/2048  | 10590 | 10174 |
| **Eni SpA** <br>5.750% due 05/19/2035 | 3300 | 3424 |
| **Essent Group Ltd.** <br>6.250% due 07/01/2029 | 2200 | 2277 |
| **Fedex Freight Holding Co., Inc.** <br>4.950% due 03/15/2033 | 500 | 488 |
| **Ferguson Enterprises, Inc.** <br>5.000% due 10/03/2034 | 1000 | 989 |
| **Fidelity National Information Services, Inc.** <br>4.550% due 03/10/2029 | 4900 | 4878 |
| **Flex Ltd.** <br>5.250% due 01/15/2032 | 2100 | 2109 |
| **Gartner, Inc.** <br>4.950% due 03/20/2031 | 5170 | 5046 |
| **GE Capital Funding LLC** <br>4.550% due 05/15/2032 | 1500 | 1496 |
| **Global Payments, Inc.**  |  |  |
| 4.875% due 11/15/2030  | 2650 | 2604 |
| 5.200% due 11/15/2032  | 3600 | 3497 |
| 5.400% due 08/15/2032  | 5300 | 5259 |
| 5.550% due 11/15/2035  | 6450 | 6219 |
| **Greensaif Pipelines Bidco SARL**  |  |  |
| 5.853% due 02/23/2036  | 2300 | 2311 |
| 6.103% due 08/23/2042  | 1400 | 1395 |
| **HCA, Inc.**  |  |  |
| 3.625% due 03/15/2032  | 4067 | 3781 |
| 5.250% due 03/01/2030  | 1600 | 1634 |
| 5.500% due 03/01/2032  | 3550 | 3641 |
| 5.500% due 06/01/2033  | 2200 | 2245 |
| 5.750% due 03/01/2035  | 2400 | 2468 |
| **Imperial Brands Finance PLC** <br>6.125% due 07/27/2027 | 3000 | 3062 |
| **Las Vegas Sands Corp.** <br>3.500% due 08/18/2026 | 1100 | 1096 |
| **Mars, Inc.** <br>5.000% due 03/01/2032 | 750 | 759 |
| **MPLX LP** <br>5.000% due 03/01/2033 | 2100 | 2089 |
| **MSCI, Inc.** <br>3.875% due 02/15/2031 | 300 | 284 |
| **National Football League**  |  |  |
| 4.780% due 10/05/2030 «(j)  | 4500 | 4478 |
| 5.250% due 10/05/2034 «(j)  | 5500 | 5485 |
| 5.420% due 10/05/2037 «(j)  | 2100 | 2095 |
| **National Fuel Gas Co.**  |  |  |
| 5.500% due 10/01/2026  | 1500 | 1507 |
| 5.500% due 03/15/2030  | 2100 | 2149 |
| **NetApp, Inc.** <br>5.700% due 03/17/2035 | 1600 | 1631 |
| **Nissan Motor Co. Ltd.** <br>4.345% due 09/17/2027 | 2800 | 2726 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.** <br>5.000% due 01/15/2033 | 900 | 896 |
| **Pacific National Finance Pty. Ltd.** <br>4.750% due 03/22/2028 | 4300 | 4255 |
| **PeaceHealth Obligated Group** <br>4.855% due 11/15/2032 | 2000 | 1992 |
| **Petroleos Mexicanos** <br>6.700% due 02/16/2032 | 4600 | 4506 |
| **Quanta Services, Inc.** <br>5.250% due 08/09/2034 | 3100 | 3120 |
| **Quikrete Holdings, Inc.**  |  |  |
| 6.375% due 03/01/2032  | 1200 | 1218 |
| 6.750% due 03/01/2033  | 300 | 305 |
| **Salesforce, Inc.** <br>4.500% due 03/15/2028 | 6500 | 6504 |
| **Santos Finance Ltd.** <br>5.750% due 11/13/2035 | 12350 | 12389 |
| **Smith & Nephew PLC** <br>5.400% due 03/20/2034 | 5000 | 5073 |
| **South Bow USA Infrastructure Holdings LLC** <br>5.584% due 10/01/2034 | 3700 | 3677 |
| **Spirit Airlines Pass-Through Trust**  |  |  |
| 3.375% due 08/15/2031  | 461 | 431 |
| 4.100% due 10/01/2029  | 653 | 642 |
| **T-Mobile USA, Inc.** <br>2.700% due 03/15/2032 | 2700 | 2403 |
| **Targa Resources Corp.** <br>6.125% due 03/15/2033 | 3000 | 3174 |
| **Time Warner Cable LLC**  |  |  |
| 6.550% due 05/01/2037  | 600 | 605 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 7.300% due 07/01/2038  | 2500 | 2618 |
| **Turkish Airlines Pass-Through Trust** <br>4.200% due 09/15/2028 | 786 | 776 |
| **United Airlines Pass-Through Trust**  |  |  |
| 2.700% due 11/01/2033  | 293 | 269 |
| 3.100% due 01/07/2030  | 772 | 753 |
| 3.450% due 01/07/2030  | 2316 | 2252 |
| 4.550% due 08/25/2031  | 1654 | 1597 |
| 5.450% due 08/15/2038  | 1879 | 1921 |
| 5.875% due 04/15/2029  | 912 | 928 |
| **Vale Overseas Ltd.** <br>6.400% due 06/28/2054 | 4000 | 4055 |
| **Venture Global Calcasieu Pass LLC** <br>4.125% due 08/15/2031 | 6900 | 6404 |
| **Venture Global LNG, Inc.** <br>7.000% due 01/15/2030 | 5600 | 5721 |
| **Vmed O2 U.K. Financing I PLC** <br>7.750% due 04/15/2032 | 3600 | 3455 |
| **VMware LLC** <br>2.200% due 08/15/2031 | 2450 | 2151 |
| **Westinghouse Air Brake Technologies Corp.**  |  |  |
| 4.700% due 09/15/2028  | 1380 | 1384 |
| 5.611% due 03/11/2034  | 2000 | 2058 |
| **Woodside Finance Ltd.**  |  |  |
| 5.100% due 09/12/2034  | 1200 | 1182 |
| 5.700% due 05/19/2032  | 4700 | 4875 |
|  |  | 399992 |
| **UTILITIES 2.1%**  |  |  |
| **AES Corp.** <br>5.800% due 03/15/2032 | 8000 | 8049 |
| **Capital Power U.S. Holdings, Inc.** <br>5.257% due 06/01/2028 | 1700 | 1710 |
| **Cleco Power LLC** <br>5.300% due 01/15/2036 | 1900 | 1886 |
| **Edison International** <br>5.750% due 06/15/2027 | 1750 | 1764 |
| **Electricite de France SA**  |  |  |
| 5.950% due 04/22/2034  | 4000 | 4181 |
| 6.000% due 04/22/2064  | 4000 | 3811 |
| **Emera U.S. Finance LP** <br>2.639% due 06/15/2031 | 1000 | 892 |
| **ENEL Finance International NV** <br>7.500% due 10/14/2032 | 2800 | 3154 |
| **Eversource Energy** <br>5.950% due 02/01/2029 | 4850 | 5026 |
| **FLNG Liquefaction LLC** <br>5.710% due 03/31/2040 «(j) | 5800 | 5695 |
| **NGPL PipeCo LLC** <br>3.250% due 07/15/2031 | 500 | 460 |
| **NiSource, Inc.** <br>1.700% due 02/15/2031 | 4700 | 4087 |
| **Oncor Electric Delivery Co. LLC** <br>5.150% due 05/01/2029 «(j) | 12000 | 12132 |
| **ONEOK, Inc.** <br>6.050% due 09/01/2033 | 6000 | 6293 |
| **Pacific Gas & Electric Co.**  |  |  |
| 2.500% due 02/01/2031  | 3950 | 3541 |
| 3.500% due 08/01/2050  | 1200 | 794 |
| 4.950% due 07/01/2050  | 8700 | 7212 |
| 5.550% due 05/15/2029  | 1200 | 1229 |
| 5.800% due 05/15/2034  | 4200 | 4305 |
| 5.900% due 06/15/2032  | 1900 | 1969 |
| 6.000% due 08/15/2035  | 5700 | 5892 |
| 6.150% due 01/15/2033  | 2700 | 2825 |
| 6.700% due 04/01/2053  | 3600 | 3730 |
| 6.750% due 01/15/2053  | 301 | 313 |
| 6.950% due 03/15/2034  | 3000 | 3287 |
| **PacifiCorp**  |  |  |
| 7.125% due 08/15/2056 •  | 10000 | 9450 |
| 7.375% due 09/15/2055 •  | 5500 | 5260 |
| **Puget Energy, Inc.**  |  |  |
| 4.224% due 03/15/2032  | 1000 | 955 |
| 5.725% due 03/15/2035  | 1500 | 1512 |
| **SCE Recovery Funding LLC**  |  |  |
| 4.453% due 03/15/2036  | 7500 | 7431 |
| 5.341% due 03/15/2047  | 6500 | 6460 |
| **Sempra** <br>6.375% due 04/01/2056 •  | 5000 | 5024 |
| **Southern California Edison Co.**  |  |  |
| 4.000% due 04/01/2047  | 4350 | 3236 |
| 4.650% due 10/01/2043  | 1250 | 1049 |
| 5.875% due 12/01/2053  | 1400 | 1325 |
| 6.000% due 01/15/2034  | 4800 | 5007 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Southern California Gas Co.** <br>2.550% due 02/01/2030 | 1700 | 1593 |
| **Toledo Edison Co.** <br>2.650% due 05/01/2028 | 2918 | 2772 |
| **Verizon Communications, Inc.**  |  |  |
| 4.400% due 11/01/2034  | 4500 | 4286 |
| 4.780% due 02/15/2035  | 5700 | 5519 |
| 5.000% due 01/15/2036  | 1100 | 1078 |
| **Vistra Operations Co. LLC** <br>6.950% due 10/15/2033 | 5400 | 5880 |
|  |  | 162074 |
| Total Corporate Bonds & Notes (Cost $1,782,168) |  | 1795354 |
| **MUNICIPAL BONDS & NOTES 0.7%**  |  |  |
| **CALIFORNIA 0.3%**  |  |  |
| **California State Public Works Board Revenue Bonds, (BABs), Series 2009** <br>8.361% due 10/01/2034 | 5000 | 5891 |
| **Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021**  |  |  |
| 3.487% due 06/01/2036  | 3300 | 2831 |
| 3.714% due 06/01/2041  | 8610 | 6829 |
| 4.214% due 06/01/2050  | 7050 | 5346 |
|  |  | 20897 |
| **ILLINOIS 0.1%**  |  |  |
| **Illinois State General Obligation Bonds, (BABs), Series 2010** <br>7.350% due 07/01/2035 | 4857 | 5225 |
| **INDIANA 0.1%**  |  |  |
| **Indiana Finance Authority Revenue Bonds, (AGC Insured), Series 2025** <br>5.928% due 07/01/2053 | 8000 | 7931 |
| **MINNESOTA 0.1%**  |  |  |
| **Minnesota Housing Finance Agency Revenue Notes, Series 2024**  |  |  |
| 5.301% due 01/01/2029  | 4745 | 4830 |
| 5.532% due 01/01/2034  | 5000 | 5163 |
|  |  | 9993 |
| **NEW YORK 0.1%**  |  |  |
| **New York City, New York General Obligation Bonds, Series 2025** <br>6.291% due 02/01/2045 | 4180 | 4353 |
| **New York City, New York Industrial Development Agency Revenue Bonds, (AGM Insured), Series 2006** <br>6.027% due 01/01/2046 | 500 | 488 |
|  |  | 4841 |
| **WEST VIRGINIA 0.0%**  |  |  |
| **Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020** <br>4.875% due 06/01/2049 | 3305 | 3244 |
| Total Municipal Bonds & Notes (Cost $51,869) |  | 52131 |
| **U.S. GOVERNMENT AGENCIES 52.8%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 3.000% due 01/01/2043 - 04/01/2043 | 3 | 2 |
| 3.500% due 10/01/2033 - 06/01/2049 | 2828 | 2627 |
| 4.000% due 09/01/2033 - 06/01/2049 | 5331 | 5130 |
| 4.500% due 02/01/2034 - 10/01/2053 | 6156 | 6025 |
| 5.000% due 01/01/2034 - 03/01/2056 | 300667 | 298328 |
| 5.500% due 03/01/2027 - 02/01/2056 | 345498 | 348603 |
| 6.000% due 12/01/2034 - 04/01/2055 | 466052 | 479932 |
| 6.355% due 07/01/2036 •  | 1 | 1 |
| 6.467% due 12/01/2031 •  | 17 | 18 |
| 6.500% due 01/01/2037 - 12/01/2053 | 4404 | 4561 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 0.000% due 01/15/2033 - 07/15/2039 (b)(e) | 231 | 214 |
| 0.440% due 06/15/2042 •  | 50 | 24 |
| 0.578% due 11/15/2048 •(a) | 14656 | 567 |
| 1.163% due 12/15/2040 •(a) | 741 | 48 |
| 1.243% due 05/15/2041 •  | 502 | 420 |
| 2.190% due 06/15/2040 ~(a) | 4663 | 434 |
| 4.662% due 02/25/2055 - 06/25/2055 •  | 69479 | 69688 |
| 4.862% due 08/25/2055 •  | 61326 | 61928 |
| 5.000% due 05/15/2033 - 07/15/2041 | 97 | 98 |
| 5.250% due 04/15/2033 | 15 | 15 |
| 5.500% due 08/15/2033 | 14 | 14 |
| 9.249% due 05/15/2033 •  | 14 | 16 |
| **Federal National Mortgage Association**  |  |  |
| 3.500% due 06/01/2045 - 07/01/2049 | 26572 | 24932 |
| 4.000% due 12/01/2028 - 09/01/2052 | 73320 | 69663 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.500% due 05/01/2037 - 06/01/2051 | 3233 | 3190 |
| 5.000% due 10/01/2035 - 06/01/2053 | 81552 | 81003 |
| 5.330% due 04/01/2032 | 1176 | 1227 |
| 5.500% due 12/01/2031 - 02/01/2056 | 399902 | 403236 |
| 5.508% due 12/01/2028 •  | 73 | 73 |
| 6.000% due 06/01/2037 - 08/01/2055 | 284318 | 293151 |
| 6.155% due 11/01/2035 •  | 2 | 2 |
| 6.343% due 09/01/2034 •  | 8 | 8 |
| 6.500% due 01/01/2036 - 02/01/2054 | 46119 | 47756 |
| 6.945% due 04/01/2036 •  | 3 | 3 |
| 7.000% due 04/01/2037 - 03/01/2038 | 35 | 35 |
| 7.500% due 10/01/2037 | 51 | 54 |
| **Federal National Mortgage Association Interest STRIPS**<br>0.000% due 07/25/2031 (b)(e) | 6 | 5 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 0.000% due 12/25/2032 - 02/25/2040 (b)(e) | 43 | 38 |
| 1.713% due 05/25/2042 •  | 178 | 134 |
| 2.224% due 09/25/2042 •(a) | 16447 | 2266 |
| 2.644% due 04/25/2040 •(a) | 21 | 1 |
| 3.000% due 03/25/2033 - 02/25/2043 | 1 | 1 |
| 3.424% due 05/25/2036 •(a) | 455 | 47 |
| 3.500% due 06/25/2042 | 360 | 341 |
| 4.500% due 11/25/2035 - 03/25/2041 | 144 | 142 |
| 4.862% due 08/25/2055 •  | 92976 | 93914 |
| 6.000% due 05/25/2031 - 07/25/2037 | 33 | 35 |
| 8.787% due 01/25/2036 •  | 51 | 52 |
| **Government National Mortgage Association**  |  |  |
| 2.000% due 08/20/2030 | 346 | 335 |
| 3.000% due 08/20/2026 - 07/15/2029 | 2350 | 2331 |
| 3.500% due 10/20/2042 - 02/20/2056 | 256678 | 235692 |
| 4.000% due 09/20/2040 - 06/15/2047 | 10307 | 9809 |
| 4.500% due 08/20/2038 - 02/20/2047 | 1137 | 1114 |
| 5.000% due 03/20/2034 - 04/20/2040 | 237 | 234 |
| 5.500% due 11/20/2038 | 6 | 6 |
| 6.000% due 08/20/2038 - 02/20/2039 | 42 | 42 |
| 6.500% due 12/20/2038 | 11 | 11 |
| **Government National Mortgage Association REMICS**  |  |  |
| 3.500% due 12/20/2040 | 39 | 39 |
| 4.750% due 01/20/2035 | 55 | 55 |
| 4.873% due 06/20/2055 •  | 46906 | 47418 |
| 5.500% due 04/16/2034 - 07/20/2037 | 15 | 16 |
| **Government National Mortgage Association, TBA**  |  |  |
| 2.500% due 05/01/2056 | 95000 | 81693 |
| 3.000% due 04/01/2056 | 20000 | 17858 |
| 4.500% due 04/01/2056 | 32600 | 31499 |
| 6.000% due 05/01/2056 | 100000 | 101575 |
| **Tennessee Valley Authority**<br>5.250% due 02/01/2055 | 10000 | 9867 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 3.000% due 06/01/2040 | 216066 | 189491 |
| 4.000% due 05/01/2056 - 06/01/2056 | 85000 | 80101 |
| 4.500% due 05/01/2056 - 06/01/2056 | 535200 | 515742 |
| 5.000% due 05/01/2056 | 336300 | 331280 |
| 6.500% due 05/01/2056 - 06/01/2056 | 127300 | 131590 |
| Total U.S. Government Agencies (Cost $4,066,180) |  | 4087800 |
| **U.S. TREASURY OBLIGATIONS 13.9%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 2.375% due 02/15/2042 (n)(p) | 150000 | 109365 |
| 3.125% due 08/15/2044 | 206100 | 161636 |
| 3.875% due 02/15/2043 (l)(n) | 318300 | 282926 |
| 4.625% due 11/15/2045 | 222300 | 214450 |
| 4.750% due 05/15/2055 (l)(p) | 32300 | 31461 |
| 4.750% due 02/15/2056 (p) | 7800 | 7609 |
| 4.875% due 08/15/2045 (p) | 226 | 225 |
| **U.S. Treasury Inflation Protected Securities (f)** |  |  |
| 1.750% due 01/15/2034 (n) | 159967 | 159352 |
| 2.125% due 01/15/2035 (n) | 83883 | 85327 |
| **U.S. Treasury Notes**  |  |  |
| 4.125% due 02/15/2036 (n)(p) | 23000 | 22642 |
| Total U.S. Treasury Obligations (Cost $1,055,781) |  | 1074993 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 7.2%**  |  |  |
| **86333 AA1** <br>1.000% due 03/26/2029 «(j) | 10000 | 9847 |
| **86333 AB9** <br>5.170% due 03/26/2031 «(j) | 10000 | 9771 |
| **Ajax Mortgage Loan Trust** <br>1.698% due 05/25/2059 þ | 607 | 574 |
| **American Home Mortgage Investment Trust** <br>4.153% due 12/25/2046 •  | 2573 | 2221 |
| **Angel Oak Mortgage Trust** <br>4.846% due 07/25/2062 þ | 9115 | 9033 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **BAMLL Commercial Mortgage Pass-Through Certificates**  |  |  |
| 3.110% due 04/25/2050 «  | 28245 | 27567 |
| 3.110% due 08/25/2052 «  | 10000 | 8962 |
| **BAMLL Commercial Mortgage Securities Trust** <br>2.847% due 04/20/2042 | 12600 | 10361 |
| **Banc of America Funding Trust** <br>4.096% due 08/27/2036 ~ | 4596 | 4452 |
| **Bank**  |  |  |
| 5.000% due 12/25/2067  | 5000 | 4968 |
| 5.561% due 05/15/2068 ~  | 2200 | 2296 |
| **Bank5**  |  |  |
| 4.793% due 12/15/2058  | 8100 | 8140 |
| 5.769% due 06/15/2057  | 2200 | 2270 |
| 5.788% due 06/15/2057  | 4300 | 4432 |
| **BBCMS Mortgage Trust**  |  |  |
| 4.314% due 12/15/2051  | 1000 | 989 |
| 4.534% due 09/15/2058  | 7000 | 6966 |
| 5.248% due 02/15/2059  | 2900 | 2962 |
| 5.297% due 12/15/2058  | 7800 | 7924 |
| **BCAP LLC Trust** <br>4.093% due 05/25/2047 •  | 1159 | 1062 |
| **Bear Stearns ALT-A Trust** <br>4.433% due 04/25/2034 •  | 4 | 4 |
| **Benchmark Mortgage Trust**  |  |  |
| 4.077% due 07/15/2051  | 4175 | 4161 |
| 4.767% due 01/15/2058  | 6500 | 6514 |
| 5.249% due 01/15/2058  | 6500 | 6636 |
| 6.841% due 11/15/2056 ~  | 6700 | 7009 |
| **BMO Mortgage Trust**  |  |  |
| 5.057% due 10/15/2058  | 3000 | 2989 |
| 5.226% due 10/15/2058  | 2500 | 2542 |
| 5.462% due 02/15/2057  | 2000 | 2035 |
| 5.625% due 12/15/2057 ~  | 3400 | 3501 |
| 5.857% due 02/15/2057  | 13100 | 13534 |
| **BWAY Mortgage Trust** <br>5.037% due 09/15/2036 •  | 5000 | 4921 |
| **BX Commercial Mortgage Trust**  |  |  |
| 4.517% due 10/15/2036 •  | 655 | 654 |
| 4.685% due 02/15/2039 •  | 538 | 538 |
| **Chase Home Lending Mortgage Trust**  |  |  |
| 3.250% due 03/25/2063 ~  | 3414 | 3070 |
| 3.250% due 09/25/2063 ~  | 2493 | 2236 |
| 3.375% due 04/25/2065 ~  | 4792 | 4309 |
| 4.962% due 06/25/2055 •  | 2908 | 2926 |
| **Chase Mortgage Finance Trust** <br>6.000% due 05/25/2036 | 3366 | 1296 |
| **ChaseFlex Trust** <br>6.500% due 02/25/2037 | 3749 | 1237 |
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 4.333% due 03/25/2035 •  | 41 | 39 |
| 4.336% due 11/25/2037 ~  | 1786 | 1696 |
| 4.476% due 02/20/2036 ~  | 352 | 318 |
| 4.682% due 03/20/2036 ~  | 391 | 367 |
| **CHL Reperforming Loan REMICS Trust** <br>4.133% due 01/25/2036 •  | 507 | 481 |
| **CIM Trust** <br>5.500% due 08/25/2064 ~ | 9580 | 9608 |
| **Citigroup Mortgage Loan Trust** <br>3.375% due 10/25/2062 þ | 11640 | 10697 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.113% due 09/25/2036 •  | 324 | 311 |
| 4.593% due 08/25/2035 •  | 86 | 84 |
| 5.500% due 08/25/2034  | 815 | 821 |
| **COMM Mortgage Trust**  |  |  |
| 3.140% due 10/10/2036  | 2340 | 2269 |
| 5.087% due 12/15/2038 •  | 5261 | 5214 |
| **CORPIJ944** <br>4.920% due 03/15/2031 «(j) | 6000 | 5890 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 4.153% due 05/25/2047 •  | 118 | 111 |
| 4.293% due 06/25/2037 •  | 439 | 373 |
| 4.430% due 12/20/2035 •  | 2393 | 2291 |
| 5.500% due 07/25/2035  | 902 | 615 |
| 5.500% due 08/25/2035  | 241 | 205 |
| 5.500% due 12/25/2035  | 569 | 376 |
| 5.500% due 02/25/2036  | 1121 | 879 |
| 5.750% due 05/25/2036  | 355 | 128 |
| 6.000% due 04/25/2037  | 2281 | 1922 |
| 6.250% due 08/25/2036  | 295 | 153 |
| **Credit Suisse First Boston Mortgage Securities Corp.**  |  |  |
| 4.443% due 11/25/2031 •  | 23 | 12 |
| 4.941% due 11/25/2034 ~  | 12 | 12 |
| **Cross Mortgage Trust**  |  |  |
| 5.003% due 11/25/2070 ~  | 940 | 936 |
| 5.036% due 11/25/2070 ~  | 2914 | 2903 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CSMC Mortgage-Backed Trust**  |  |  |
| 5.500% due 03/25/2037  | 669 | 302 |
| 6.421% due 10/25/2037 ~  | 2647 | 1488 |
| **CSMC Trust**  |  |  |
| 3.927% due 09/25/2057 ~  | 1000 | 949 |
| 4.151% due 12/27/2060 ~  | 1603 | 1598 |
| 5.187% due 07/15/2038 •  | 1000 | 888 |
| 6.000% due 07/25/2037  | 252 | 221 |
| **Deephaven Residential Mortgage Trust** <br>5.087% due 11/25/2060 ~ | 1928 | 1924 |
| **Deutsche Alt-A Securities, Inc. Mortgage Loan Trust** <br>4.273% due 01/25/2047 •  | 3137 | 2838 |
| **Deutsche Alt-B Securities, Inc. Mortgage Loan Trust**  |  |  |
| 5.431% due 02/25/2036 ~  | 98 | 89 |
| 5.665% due 02/25/2036 ~  | 906 | 829 |
| **Ellington Financial Mortgage Trust**  |  |  |
| 4.973% due 12/25/2070 þ  | 4819 | 4813 |
| 5.100% due 10/25/2070 þ  | 961 | 957 |
| **EQUS Mortgage Trust** <br>4.692% due 10/15/2038 •  | 3736 | 3735 |
| **GS Mortgage Securities Corp. Trust** <br>4.920% due 07/15/2035 •  | 1298 | 856 |
| **GS Mortgage-Backed Securities Trust** <br>5.013% due 07/25/2065 þ | 2632 | 2620 |
| **GSMPS Mortgage Loan Trust** <br>4.143% due 01/25/2036 •  | 1495 | 1203 |
| **GSR Mortgage Loan Trust**  |  |  |
| 4.111% due 11/25/2035 ~  | 5 | 4 |
| 4.478% due 01/25/2036 ~  | 729 | 682 |
| 6.000% due 03/25/2036  | 4014 | 1294 |
| 6.290% due 09/25/2034 ~  | 83 | 85 |
| 6.500% due 05/25/2036  | 524 | 202 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 4.171% due 01/19/2038 •  | 2304 | 2067 |
| 4.201% due 12/19/2036 •  | 1956 | 1646 |
| 4.331% due 03/19/2035 •  | 656 | 640 |
| **IndyMac INDX Mortgage Loan Trust** <br>3.791% due 09/25/2036 ~ | 1328 | 834 |
| **JP Morgan Alternative Loan Trust** <br>5.330% due 12/25/2035 ~ | 374 | 253 |
| **JP Morgan Chase Commercial Mortgage Securities Trust**  |  |  |
| 2.287% due 03/05/2042  | 2210 | 2078 |
| 2.812% due 01/16/2037  | 100 | 90 |
| 3.648% due 12/15/2049 ~  | 3700 | 3671 |
| 4.519% due 04/15/2037 •  | 1879 | 1861 |
| 4.860% due 07/05/2033 •  | 1777 | 1738 |
| 7.235% due 10/05/2040  | 2000 | 2070 |
| **JP Morgan Mortgage Trust**  |  |  |
| 4.625% due 07/25/2063 ~  | 4261 | 4150 |
| 4.787% due 06/25/2066 ~  | 5461 | 5420 |
| 4.954% due 03/25/2066 ~  | 1855 | 1849 |
| 4.968% due 07/25/2035 ~  | 8 | 8 |
| 4.985% due 02/25/2036 ~  | 549 | 375 |
| 5.567% due 09/25/2065 ~  | 1677 | 1685 |
| 6.000% due 08/25/2037  | 755 | 305 |
| 6.500% due 01/25/2036  | 4898 | 2533 |
| **Key Commercial Mortgage Securities Trust** <br>2.233% due 09/16/2052 | 10000 | 9065 |
| **Legacy Mortgage Asset Trust**  |  |  |
| 5.750% due 07/25/2061 þ  | 930 | 931 |
| 5.892% due 10/25/2066 þ  | 1239 | 1240 |
| 6.250% due 07/25/2067 þ  | 1495 | 1497 |
| **Lehman XS Trust**  |  |  |
| 4.153% due 12/25/2036 •  | 1567 | 1590 |
| 4.173% due 11/25/2046 •  | 2163 | 1955 |
| **LUX** <br>6.363% due 08/15/2040 •  | 3200 | 3220 |
| **MASTR Adjustable Rate Mortgages Trust**  |  |  |
| 2.517% due 04/25/2034 ~  | 91 | 79 |
| 5.939% due 12/25/2035 •  | 2225 | 2230 |
| **Merrill Lynch Mortgage Investors Trust**  |  |  |
| 4.353% due 07/25/2029 •  | 23 | 23 |
| 5.144% due 05/25/2029 ~  | 6 | 6 |
| **MFA Trust**  |  |  |
| 1.014% due 01/26/2065 ~  | 757 | 728 |
| 1.324% due 01/26/2065 ~  | 206 | 199 |
| 1.381% due 04/25/2065 ~  | 897 | 882 |
| 1.632% due 01/26/2065 ~  | 397 | 383 |
| 1.638% due 04/25/2065 ~  | 371 | 365 |
| 5.675% due 05/27/2070 þ  | 2739 | 2753 |
| 6.775% due 10/25/2058 þ  | 882 | 888 |
| **Mill City Mortgage Loan Trust**  |  |  |
| 2.750% due 07/25/2059 ~  | 932 | 917 |
| 2.750% due 08/25/2059 ~  | 326 | 319 |
| **MKT Mortgage Trust** <br>2.694% due 02/12/2040 | 5000 | 4521 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Morgan Stanley Bank of America Merrill Lynch Trust** <br>5.107% due 11/15/2058 | 5000 | 5071 |
| **Morgan Stanley Capital I Trust** <br>3.912% due 09/09/2032 | 2100 | 1947 |
| **Morgan Stanley Mortgage Loan Trust** <br>5.634% due 06/25/2036 ~ | 1604 | 1569 |
| **Morgan Stanley Residential Mortgage Loan Trust**  |  |  |
| 4.000% due 01/25/2064 þ  | 3983 | 3851 |
| 4.963% due 09/25/2070 ~  | 4841 | 4835 |
| 5.016% due 09/25/2070 ~  | 1399 | 1397 |
| 5.044% due 07/25/2069 ~  | 3041 | 3034 |
| 5.530% due 05/25/2070 ~  | 1622 | 1627 |
| 5.562% due 03/25/2070 þ  | 10972 | 11016 |
| **Natixis Commercial Mortgage Securities Trust**  |  |  |
| 3.858% due 04/10/2037  | 3260 | 3100 |
| 4.887% due 08/15/2038 •  | 835 | 820 |
| **New Residential Mortgage Loan Trust**  |  |  |
| 5.085% due 10/25/2065 ~  | 944 | 943 |
| 6.864% due 10/25/2063 þ  | 4876 | 4916 |
| **NLT Trust** <br>3.200% due 10/25/2062 ~ | 2512 | 2320 |
| **Nomura Asset Acceptance Corp. Alternative Loan Trust** <br>4.293% due 06/25/2037 •  | 4426 | 3715 |
| **Nomura Resecuritization Trust** <br>6.500% due 10/26/2037 | 1799 | 718 |
| **OBX Trust**  |  |  |
| 4.940% due 09/25/2062 þ  | 4031 | 4007 |
| 5.530% due 10/25/2064 þ  | 4662 | 4682 |
| 6.129% due 12/25/2063 þ  | 3983 | 4005 |
| 6.567% due 06/25/2063 þ  | 1931 | 1933 |
| 7.159% due 10/25/2063 þ  | 1946 | 1962 |
| **One New York Plaza Trust** <br>4.737% due 01/15/2036 •  | 5758 | 5562 |
| **Pretium Mortgage Credit Partners LLC**  |  |  |
| 4.000% due 03/25/2065 þ  | 2863 | 2775 |
| 4.150% due 01/25/2070 þ  | 3571 | 3463 |
| **Project Cashmere**  |  |  |
| 4.543% due 12/30/2057 «(c)  | 89000 | 61406 |
| 5.713% due 12/30/2057 «(c)  | 3000 | 2070 |
| 5.863% due 12/30/2057 «(c)  | 2100 | 1449 |
| 6.163% due 12/30/2057 «(c)  | 1100 | 759 |
| 6.563% due 12/30/2057 «(c)  | 800 | 552 |
| **PRPM LLC**  |  |  |
| 4.500% due 06/25/2065 þ  | $2863 | 2804 |
| 4.942% due 12/25/2055 þ  | 1853 | 1838 |
| **PRPM Trust** <br>4.845% due 01/25/2056 þ | 3044 | 3029 |
| **RALI Trust**  |  |  |
| 6.000% due 06/25/2036  | 1010 | 830 |
| 6.000% due 12/25/2036  | 830 | 695 |
| 6.500% due 07/25/2037  | 1694 | 1394 |
| **RBSGC Mortgage Loan Trust** <br>4.173% due 12/25/2034 •  | 993 | 913 |
| **Residential Asset Securitization Trust**  |  |  |
| 4.343% due 08/25/2033 •  | 16 | 14 |
| 5.500% due 08/25/2034  | 998 | 963 |
| **RFMSI Trust** <br>6.000% due 06/25/2036 | 334 | 285 |
| **Sequoia Mortgage Trust**  |  |  |
| 4.490% due 07/20/2033 •  | 8 | 8 |
| 4.549% due 02/20/2035 •  | 199 | 194 |
| 4.674% due 04/25/2056 ~  | 3464 | 3385 |
| 5.046% due 10/25/2055 ~  | 1517 | 1517 |
| **SMRT Commercial Mortgage Trust** <br>4.673% due 01/15/2039 •  | 2350 | 2349 |
| **Starwood Mortgage Residential Trust**  |  |  |
| 0.943% due 05/25/2065 ~  | 372 | 355 |
| 1.439% due 11/25/2055 ~  | 190 | 183 |
| 1.593% due 11/25/2055 ~  | 245 | 236 |
| **Thornburg Mortgage Securities Trust**  |  |  |
| 5.139% due 10/25/2046 •  | 601 | 579 |
| 5.786% due 06/25/2037 •  | 139 | 120 |
| **Towd Point Mortgage Trust**  |  |  |
| 3.250% due 07/25/2058 ~  | 957 | 953 |
| 4.103% due 01/25/2066 ~  | 1957 | 1932 |
| 4.612% due 10/25/2064 ~  | 3918 | 3887 |
| **Verus Securitization Trust**  |  |  |
| 2.824% due 11/25/2066 ~  | 2096 | 1923 |
| 4.832% due 10/25/2067 ~  | 2352 | 2333 |
| 4.858% due 12/25/2070 þ  | 3518 | 3508 |
| 5.086% due 07/25/2067 ~  | 2506 | 2500 |
| 6.443% due 08/25/2068 þ  | 2458 | 2461 |
| 6.665% due 09/25/2068 þ  | 3290 | 3305 |
| 6.876% due 11/25/2068 ~  | 1775 | 1791 |
| **WaMu Mortgage Pass-Through Certificates Trust**  |  |  |
| 3.534% due 01/25/2037 ~  | 1885 | 1655 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.159% due 07/25/2037 ~  | 1724 | 1600 |
| 5.359% due 10/25/2046 •  | 815 | 784 |
| **Washington Mutual Mortgage Pass-Through Certificates Trust**  |  |  |
| 4.069% due 10/25/2036 þ  | 6801 | 2360 |
| 4.313% due 12/25/2035 •  | 5311 | 4708 |
| 4.829% due 05/25/2046 •  | 311 | 279 |
| **Wells Fargo Commercial Mortgage Trust**  |  |  |
| 5.204% due 09/15/2040 ~  | 1000 | 996 |
| 5.266% due 10/15/2042 •  | 3200 | 3197 |
| 5.315% due 07/15/2037 •  | 2800 | 2798 |
| **Wells Fargo Mortgage-Backed Securities Trust**  |  |  |
| 5.850% due 12/28/2037 ~  | 946 | 859 |
| 6.192% due 08/25/2036 ~  | 189 | 180 |
| **Worldwide Plaza Trust** <br>3.526% due 11/10/2036 | 8900 | 7114 |
| **WSTN Trust** <br>6.297% due 07/05/2037 ~ | 3500 | 3538 |
| Total Non-Agency Mortgage-Backed Securities (Cost $573,345) |  | 560117 |
| **ASSET-BACKED SECURITIES 13.7%**  |  |  |
| **AUTOMOBILE ABS OTHER 0.1%**  |  |  |
| **Chesapeake Funding II LLC** <br>4.442% due 05/15/2036 •  | 2245 | 2248 |
| **GLS Auto Receivables Issuer Trust** <br>5.770% due 11/15/2028 | 2500 | 2511 |
| **Santander Drive Auto Receivables Trust**  |  |  |
| 5.980% due 04/16/2029  | 1700 | 1717 |
| 6.400% due 03/17/2031  | 1700 | 1747 |
|  |  | 8223 |
| **AUTOMOBILE SEQUENTIAL 0.7%**  |  |  |
| **Avis Budget Rental Car Funding AESOP LLC**  |  |  |
| 5.440% due 02/22/2028  | 5000 | 5037 |
| 6.020% due 02/20/2030  | 7500 | 7787 |
| **FHF Trust** <br>6.570% due 06/15/2028 | 85 | 85 |
| **Ford Auto Securitization Trust** <br>5.053% due 07/15/2028 | 1526 | 1108 |
| **GM Financial Revolving Receivables Trust** <br>5.770% due 08/11/2036 | $3600 | 3727 |
| **LAD Auto Receivables Trust** <br>6.240% due 06/15/2028 | 3628 | 3640 |
| **Octane Receivables Trust** <br>6.440% due 03/20/2029 | 135 | 135 |
| **SCCU Auto Receivables Trust**  |  |  |
| 5.700% due 10/16/2028  | 617 | 620 |
| 5.700% due 08/15/2029  | 600 | 610 |
| **Upgrade Auto Receivables Trust**  |  |  |
| 4.540% due 05/15/2029  | 16240 | 16252 |
| 4.590% due 10/15/2031  | 5300 | 5257 |
| 4.600% due 01/15/2031  | 8600 | 8586 |
|  |  | 52844 |
| **CMBS OTHER 1.2%**  |  |  |
| **Acore Issuer LLC** <br>5.125% due 08/20/2043 •  | 9900 | 9894 |
| **ACREC LLC** <br>5.130% due 01/18/2043 •  | 2300 | 2299 |
| **ACRES Commercial Realty Issuer LLC** <br>0.000% due 08/18/2044 •  | 3750 | 3748 |
| **ACRES LLC** <br>5.299% due 08/18/2040 •  | 7900 | 7928 |
| **BDS LLC** <br>4.959% due 10/17/2042 •  | 3200 | 3190 |
| **BRSP Ltd.** <br>5.127% due 08/19/2043 •  | 5100 | 5091 |
| **FS Rialto Issuer LLC** <br>0.000% due 01/19/2044 •  | 7500 | 7501 |
| **Greystone CRE Notes LLC** <br>5.154% due 01/15/2043 •  | 7350 | 7353 |
| **KREF Ltd.** <br>5.127% due 02/17/2039 •  | 567 | 568 |
| **LMNT CRE LLC** <br>5.225% due 07/21/2043 •  | 6500 | 6504 |
| **LoanCore Issuer Ltd.** <br>5.087% due 11/15/2038 •  | 155 | 155 |
| **LRECS LLC** <br>5.177% due 08/19/2043 •  | 6500 | 6489 |
| **MF1 LLC**  |  |  |
| 5.000% due 02/18/2040 •  | 4400 | 4389 |
| 5.410% due 03/19/2039 •  | 2500 | 2501 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **MF1 Ltd.** <br>5.027% due 02/19/2037 •  | 4349 | 4353 |
| **PFP Ltd.**  |  |  |
| 5.169% due 12/18/2042 •  | 1500 | 1500 |
| 5.180% due 08/18/2043 •  | 4100 | 4105 |
| 5.501% due 09/17/2039 •  | 2657 | 2663 |
| **Starwood LLC** <br>5.127% due 11/19/2042 •  | 7700 | 7700 |
| **Starwood Ltd.** <br>4.994% due 04/18/2038 •  | 1047 | 1047 |
| **TRTX Issuer Ltd.** <br>5.328% due 02/15/2039 •  | 2548 | 2555 |
|  |  | 91533 |
| **HOME EQUITY OTHER 2.0%**  |  |  |
| **ABFC Trust**  |  |  |
| 4.073% due 10/25/2036 •  | 887 | 838 |
| 4.273% due 09/25/2036 •  | 2861 | 2826 |
| **ACE Securities Corp. Home Equity Loan Trust** <br>4.293% due 10/25/2036 •  | 4074 | 1569 |
| **Aegis Asset-Backed Securities Trust** <br>4.513% due 08/25/2035 •  | 18 | 18 |
| **Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates** <br>3.105% due 06/25/2033 •  | 2565 | 2527 |
| **Argent Securities Trust** <br>4.173% due 03/25/2036 •  | 2974 | 2795 |
| **Argent Securities, Inc. Asset-Backed Pass-Through Certificates** <br>4.253% due 01/25/2036 •  | 4217 | 4100 |
| **Asset-Backed Securities Corp. Home Equity Loan Trust**  |  |  |
| 4.498% due 11/25/2035 •  | 912 | 931 |
| 4.603% due 06/25/2034 •  | 2003 | 2114 |
| 4.618% due 04/25/2034 •  | 542 | 589 |
| 7.012% due 08/15/2032 •  | 222 | 215 |
| **Bear Stearns Asset-Backed Securities I Trust**  |  |  |
| 4.253% due 11/25/2036 •  | 3200 | 3048 |
| 4.768% due 12/25/2034 •  | 1236 | 1244 |
| 4.918% due 03/25/2035 •  | 35 | 35 |
| **Bear Stearns Asset-Backed Securities Trust** <br>4.693% due 03/25/2034 •  | 1523 | 1630 |
| **Carrington Mortgage Loan Trust**  |  |  |
| 3.953% due 10/25/2036 •  | 2050 | 1673 |
| 4.053% due 02/25/2037 •  | 3191 | 3082 |
| 4.843% due 05/25/2035 •  | 2391 | 2341 |
| **CIT Mortgage Loan Trust** <br>5.293% due 10/25/2037 •  | 3009 | 3053 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.053% due 03/25/2037 •  | 177 | 162 |
| 4.113% due 09/25/2036 •  | 952 | 737 |
| 4.468% due 10/25/2035 •  | 110 | 110 |
| **Countrywide Asset-Backed Certificates Trust**  |  |  |
| 3.993% due 06/25/2047 •  | 6428 | 5804 |
| 4.073% due 06/25/2035 •  | 2330 | 2161 |
| 4.073% due 05/25/2037 •  | 2040 | 1962 |
| 4.233% due 09/25/2037 •  | 1086 | 1175 |
| 4.253% due 04/25/2047 •  | 5805 | 5358 |
| **EMC Mortgage Loan Trust** <br>4.893% due 08/25/2040 •  | 939 | 951 |
| **Fremont Home Loan Trust**  |  |  |
| 4.663% due 11/25/2034 •  | 4640 | 4233 |
| 4.843% due 11/25/2034 •  | 276 | 269 |
| **GSAA Trust** <br>4.233% due 03/25/2047 •  | 2614 | 873 |
| **GSAMP Trust** <br>4.573% due 07/25/2045 •  | 120 | 125 |
| **Home Equity Mortgage Loan Asset-Backed Trust**  |  |  |
| 4.033% due 11/25/2036 •  | 6129 | 5134 |
| 4.173% due 07/25/2037 •  | 7256 | 2846 |
| **JP Morgan Mortgage Acquisition Corp.** <br>4.378% due 05/25/2035 •  | 519 | 516 |
| **JP Morgan Mortgage Acquisition Trust**  |  |  |
| 4.243% due 07/25/2036 •  | 1510 | 1464 |
| 4.363% due 07/25/2036 •  | 957 | 952 |
| **Long Beach Mortgage Loan Trust**  |  |  |
| 4.843% due 06/25/2035 •  | 2980 | 2950 |
| 4.943% due 09/25/2034 •  | 705 | 721 |
| **Merrill Lynch Mortgage Investors Trust** <br>4.076% due 02/25/2037 þ | 11775 | 1205 |
| **Morgan Stanley ABS Capital I, Inc. Trust**  |  |  |
| 3.863% due 10/25/2036 •  | 65 | 29 |
| 3.923% due 01/25/2037 •  | 1578 | 725 |
| 3.933% due 05/25/2037 •  | 92 | 84 |
| 3.943% due 10/25/2036 •  | 259 | 135 |
| 4.013% due 11/25/2036 •  | 2562 | 1223 |
| 4.293% due 07/25/2036 •  | 1380 | 498 |
| 4.293% due 08/25/2036 •  | 12133 | 6031 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.453% due 11/25/2035 •  | 3682 | 3606 |
| 4.573% due 01/25/2035 •  | 59 | 60 |
| 4.708% due 07/25/2034 •  | 431 | 440 |
| 5.043% due 07/25/2037 •  | 6420 | 5741 |
| **Morgan Stanley Mortgage Loan Trust** <br>6.465% due 09/25/2046 þ | 2552 | 820 |
| **New Century Home Equity Loan Trust** <br>4.678% due 08/25/2034 •  | 518 | 568 |
| **Nomura Home Equity Loan, Inc. Home Equity Loan Trust** <br>4.558% due 05/25/2035 •  | 647 | 647 |
| **Option One Mortgage Loan Trust**  |  |  |
| 3.973% due 04/25/2037 •  | 2012 | 999 |
| 4.073% due 07/25/2036 •  | 1763 | 1056 |
| **RCKT Mortgage Trust**  |  |  |
| 4.827% due 01/25/2056 þ  | 4485 | 4455 |
| 4.966% due 11/25/2055 þ  | 3789 | 3770 |
| 5.582% due 12/25/2044 þ  | 2509 | 2521 |
| 6.025% due 02/25/2044 ~  | 465 | 467 |
| 6.147% due 06/25/2044 þ  | 2603 | 2623 |
| **Renaissance Home Equity Loan Trust**  |  |  |
| 4.553% due 11/25/2035 •  | 678 | 626 |
| 5.586% due 11/25/2036 þ  | 662 | 200 |
| 5.608% due 05/25/2036 þ  | 13820 | 5881 |
| 5.812% due 11/25/2036 þ  | 12195 | 3839 |
| 5.893% due 06/25/2037 þ  | 2722 | 659 |
| 6.115% due 08/25/2036 þ  | 8664 | 3052 |
| 6.120% due 11/25/2036 þ  | 1166 | 387 |
| **Residential Asset Mortgage Products Trust** <br>4.303% due 03/25/2036 •  | 790 | 783 |
| **Residential Asset Securities Corporation Trust** <br>4.013% due 02/25/2037 •  | 3240 | 3157 |
| **Saxon Asset Securities Trust**  |  |  |
| 1.966% due 03/25/2035 •  | 100 | 86 |
| 2.405% due 05/25/2035 •  | 595 | 495 |
| 5.518% due 12/26/2034 •  | 1773 | 1458 |
| 5.543% due 12/25/2037 •  | 377 | 365 |
| **Securitized Asset-Backed Receivables LLC Trust** <br>4.573% due 02/25/2034 •  | 1508 | 1599 |
| **Soundview Home Loan Trust** <br>4.043% due 07/25/2037 •  | 2913 | 2464 |
| **Structured Asset Investment Loan Trust**  |  |  |
| 4.138% due 07/25/2036 •  | 4224 | 2463 |
| 4.423% due 11/25/2035 •  | 1238 | 1223 |
| 4.498% due 03/25/2034 •  | 1248 | 1335 |
| 5.293% due 11/25/2034 •  | 1241 | 1462 |
| **Structured Asset Securities Corp. Mortgage Loan Trust** <br>4.828% due 07/25/2035 •  | 2915 | 3005 |
| **Towd Point Mortgage Trust**  |  |  |
| 5.348% due 07/25/2065 þ  | 3208 | 3211 |
| 6.125% due 02/25/2064 ~  | 491 | 493 |
| **WaMu Asset-Backed Certificates Trust** <br>4.018% due 05/25/2037 •  | 1521 | 1454 |
| **Wells Fargo Home Equity Asset-Backed Securities Trust**  |  |  |
| 4.543% due 12/25/2035 •  | 692 | 692 |
| 6.343% due 04/25/2035 •  | 131 | 134 |
| **Wells Fargo Home Equity Trust Mortgage Pass-Through Certificates** <br>4.393% due 04/25/2034 •  | 46 | 45 |
|  |  | 151402 |
| **HOME EQUITY SEQUENTIAL 0.0%**  |  |  |
| **ABFC Trust** <br>4.113% due 01/25/2037 •  | 1625 | 909 |
| **Towd Point Mortgage Trust** <br>4.961% due 01/25/2066 þ | 2443 | 2429 |
|  |  | 3338 |
| **WHOLE LOAN COLLATERAL 0.3%**  |  |  |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 4.693% due 01/25/2036 •  | 1713 | 1727 |
| 6.664% due 05/25/2036 þ  | 3876 | 1357 |
| **First Franklin Mortgage Loan Trust**  |  |  |
| 4.013% due 12/25/2037 •  | 1599 | 1556 |
| 4.113% due 10/25/2036 •  | 2816 | 1852 |
| 4.393% due 11/25/2035 •  | 152 | 149 |
| 4.618% due 05/25/2034 •  | 928 | 915 |
| 4.978% due 12/25/2034 •  | 1475 | 1509 |
| 5.218% due 10/25/2034 •  | 590 | 596 |
| **GSAMP Trust**  |  |  |
| 4.543% due 01/25/2034 •  | 636 | 662 |
| 5.668% due 08/25/2034 •  | 4885 | 4285 |
| **Lehman XS Trust**  |  |  |
| 4.743% due 06/25/2036 þ  | 1220 | 1191 |
| 6.260% due 11/25/2035 þ  | 2844 | 1284 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Residential Asset Mortgage Products Trust** <br>4.318% due 03/25/2032 •  | 746 | 653 |
| **Securitized Asset-Backed Receivables LLC Trust** <br>4.373% due 12/25/2035 •  | 1041 | 1028 |
| **Specialty Underwriting & Residential Finance Trust** <br>4.093% due 09/25/2037 •  | 5330 | 3726 |
|  |  | 22490 |
| **OTHER ABS 9.4%**  |  |  |
| **522 Funding CLO Ltd.** <br>4.969% due 10/20/2031 •  | 51 | 51 |
| **AASET MT-1 Ltd.** <br>5.522% due 02/16/2050 | 6908 | 6906 |
| **AASET Trust** <br>2.798% due 01/15/2047 | 1904 | 1802 |
| **ACHV ABS Trust** <br>5.900% due 04/25/2031 | 36 | 36 |
| **ALESCO Preferred Funding XVII Ltd.** <br>4.699% due 09/23/2038 •  | 1811 | 1783 |
| **AMMC CLO 27 Ltd.** <br>4.748% due 01/20/2037 •  | 1400 | 1400 |
| **Anchorage Capital CLO 20 Ltd.** <br>4.768% due 01/20/2035 •  | 2000 | 2001 |
| **Anchorage Capital CLO 28 Ltd.** <br>4.829% due 04/20/2037 •  | 3500 | 3492 |
| **Anchorage Credit Funding 10 Ltd.** <br>3.619% due 04/25/2038 | 1938 | 1894 |
| **Anchorage Credit Funding 12 Ltd.** <br>3.177% due 10/25/2038 | 1903 | 1845 |
| **Anchorage Credit Funding 13 Ltd.** <br>2.875% due 07/27/2039 | 2000 | 1917 |
| **Anchorage Credit Funding 14 Ltd.** <br>3.000% due 01/21/2040 | 2000 | 1911 |
| **Anchorage Credit Funding 18 Ltd.** <br>5.702% due 10/22/2040 | 2000 | 1987 |
| **Anchorage Credit Funding 19 Ltd.** <br>5.336% due 10/25/2040 | 5000 | 4949 |
| **Anchorage Credit Funding 20 Ltd.** <br>4.896% due 04/25/2042 (c) | 8400 | 8400 |
| **Anchorage Credit Funding 3 Ltd.** <br>2.871% due 01/28/2039 | 2400 | 2294 |
| **Anchorage Credit Funding 4 Ltd.** <br>2.723% due 04/27/2039 | 2000 | 1909 |
| **Anchorage Credit Funding 8 Ltd.** <br>4.430% due 07/25/2037 | 2471 | 2447 |
| **Anchorage Credit Funding 9 Ltd.** <br>3.793% due 10/25/2037 | 777 | 766 |
| **Apex Credit CLO Ltd.** <br>5.468% due 04/20/2036 •  | 4900 | 4908 |
| **Aqua Finance Issuer Trust** <br>4.790% due 05/17/2051 | 1785 | 1794 |
| **Arbour CLO XIII DAC** <br>3.154% due 08/15/2038 •  | 2500 | 2881 |
| **ARES LXII CLO Ltd.** <br>4.738% due 01/25/2034 •  | $4400 | 4401 |
| **ARES XXVII CLO Ltd.** <br>4.821% due 10/28/2034 •  | 4200 | 4205 |
| **Ascent Education Funding Trust** <br>6.140% due 10/25/2050 | 436 | 445 |
| **Atlantic Avenue Ltd.** <br>4.928% due 01/20/2035 •  | 5800 | 5803 |
| **Atlas Senior Loan Fund XVI Ltd.** <br>4.768% due 01/20/2034 •  | 4000 | 4003 |
| **Atlas Senior Loan Fund XVIII Ltd.** <br>4.778% due 01/18/2035 •  | 2900 | 2896 |
| **Bain Capital Credit CLO Ltd.**  |  |  |
| 4.661% due 04/23/2035 •  | 8000 | 8002 |
| 4.700% due 10/21/2034 •  | 6550 | 6550 |
| 4.728% due 07/24/2034 •  | 1800 | 1801 |
| **Barings Euro CLO DAC**  |  |  |
| 3.269% due 10/21/2038 •  | 3500 | 4043 |
| 3.426% due 08/15/2039 •  | 2500 | 2884 |
| **Bayfront Iabs VII Pte. Ltd.** <br>0.000% due 04/11/2048 «•  | $6000 | 6000 |
| **Birch Grove CLO Ltd.** <br>5.258% due 07/17/2037 •  | 8300 | 8322 |
| **BlueMountain CLO Ltd.** <br>4.858% due 10/25/2030 •  | 874 | 875 |
| **BlueMountain CLO XXXIV Ltd.** <br>4.818% due 04/20/2035 •  | 3900 | 3901 |
| **Bosphorus CLO IX DAC** <br>0.000% due 04/15/2038 •(c) | 2200 | 2543 |
| **Cairn CLO XI DAC** <br>3.187% due 01/15/2040 •  | 2700 | 3119 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Canyon CLO Ltd.** <br>4.752% due 07/15/2034 •  | $2000 | 2002 |
| **Capital Four CLO IV DAC** <br>3.175% due 04/15/2038 •  | 1800 | 2074 |
| **Capital Four U.S. CLO I Ltd.** <br>4.805% due 01/18/2035 •  | $5500 | 5492 |
| **Capital Street Master Trust**  |  |  |
| 4.772% due 08/16/2029 •  | 3000 | 2997 |
| 5.022% due 10/16/2028 •  | 7500 | 7506 |
| **Carlyle Global Market Strategies CLO Ltd.** <br>4.758% due 07/20/2034 •  | 5600 | 5604 |
| **Carlyle U.S. CLO Ltd.**  |  |  |
| 4.748% due 01/25/2035 •  | 2700 | 2695 |
| 4.778% due 10/20/2034 •  | 1000 | 1000 |
| **CARS-DB7 LP** <br>5.750% due 09/15/2053 | 4675 | 4695 |
| **Castlelake Aircraft Securitization Trust** <br>4.125% due 06/15/2043 | 183 | 183 |
| **Castlelake Aircraft Structured Trust** <br>5.087% due 11/15/2050 | 10711 | 10591 |
| **Cedar Funding VI CLO Ltd.** <br>4.758% due 04/20/2034 •  | 8400 | 8406 |
| **Centerbridge Credit Funding 1 Ltd.** <br>3.164% due 07/25/2039 | 2300 | 2229 |
| **CQS U.S. CLO 5 Ltd.** <br>5.101% due 01/17/2039 •  | 26300 | 26235 |
| **CVC Cordatus Loan Fund XII DAC** <br>3.285% due 01/23/2039 •  | 2500 | 2886 |
| **CVC Cordatus Loan Fund XXX DAC** <br>3.229% due 05/15/2037 •  | 1000 | 1155 |
| **DataBank Issuer II LLC** <br>5.180% due 09/27/2055 | $5000 | 4860 |
| **Diameter Capital CLO 6 Ltd.** <br>5.282% due 04/15/2037 •  | 8900 | 8927 |
| **Diamond Infrastructure Funding LLC** <br>1.760% due 04/15/2049 | 600 | 587 |
| **Diamond Issuer LLC** <br>2.305% due 11/20/2051 | 1800 | 1744 |
| **Domino's Pizza Master Issuer LLC** <br>4.930% due 07/25/2055 | 22500 | 22456 |
| **Dryden 39 Euro CLO DAC** <br>2.966% due 04/15/2035 •  | 650 | 750 |
| **Dryden 54 Senior Loan Fund** <br>4.818% due 10/19/2029 •  | $77 | 77 |
| **Dryden 86 CLO Ltd.** <br>4.798% due 07/17/2034 •  | 1300 | 1301 |
| **Dryden 95 CLO Ltd.** <br>4.696% due 08/20/2034 •  | 6200 | 6201 |
| **ECMC Group Student Loan Trust** <br>4.776% due 01/27/2070 •  | 2208 | 2215 |
| **Elevation CLO Ltd.**  |  |  |
| 4.798% due 07/25/2034 •  | 3500 | 3504 |
| 4.968% due 01/25/2035 •  | 1300 | 1301 |
| **Fair Oaks Loan Funding V DAC** <br>3.251% due 10/15/2036 •  | 1000 | 1155 |
| **Fortress Credit BSL VII Ltd.** <br>4.761% due 07/23/2032 •  | $913 | 914 |
| **GreenSky Home Improvement Issuer Trust**  |  |  |
| 4.890% due 06/25/2060  | 893 | 892 |
| 5.020% due 06/25/2060  | 500 | 506 |
| 5.550% due 06/25/2059  | 500 | 509 |
| 5.870% due 06/25/2059  | 2015 | 2043 |
| 5.880% due 06/25/2059  | 118 | 119 |
| **Greywolf CLO III Ltd.** <br>4.899% due 04/22/2033 •  | 2688 | 2691 |
| **Greywolf CLO IV Ltd.** <br>4.908% due 04/17/2034 •  | 1500 | 1502 |
| **Grosvenor Place CLO DAC** <br>3.383% due 08/15/2039 •  | 2800 | 3236 |
| **Guggenheim CLO Ltd.** <br>4.822% due 01/15/2035 •  | $6700 | 6702 |
| **Harvest CLO XVI DAC** <br>3.336% due 10/15/2038 •  | 1800 | 2079 |
| **Harvest U.S. CLO Ltd.** <br>4.822% due 01/15/2037 •  | $2600 | 2598 |
| **Home Partners of America Trust** <br>2.200% due 01/17/2041 | 1580 | 1485 |
| **Horizon Aircraft Finance II Ltd.** <br>3.721% due 07/15/2039 | 1135 | 1127 |
| **ICG Euro CLO DAC** <br>3.320% (EUR003M + 1.290%) due 01/26/2038 ~ | 1000 | 1156 |
| **IFC Emerging Markets Securitization Ltd.** <br>4.971% due 12/31/2035 •  | $3075 | 3079 |
| **Indigo Credit Management I DAC** <br>3.276% due 10/15/2037 •  | 1000 | 1155 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Invesco Euro CLO XI DAC** <br>3.287% due 10/22/2036 •  | 2900 | 3350 |
| **Invesco Euro CLO XII DAC** <br>3.277% due 07/15/2037 •  | 2600 | 2997 |
| **KKR CLO 27 Ltd.** <br>4.782% due 01/15/2035 •  | $1000 | 1000 |
| **KKR CLO 33 Ltd.** <br>4.748% due 07/20/2034 •  | 4000 | 4004 |
| **KKR CLO 36 Ltd.** <br>4.822% due 10/15/2034 •  | 2100 | 2103 |
| **LCM 35 Ltd.** <br>4.752% due 10/15/2034 •  | 2500 | 2496 |
| **LUNAR AIRCRAFT Ltd.** <br>3.376% due 02/15/2045 | 944 | 927 |
| **Madison Park Euro Funding XIV DAC** <br>2.816% due 07/15/2032 •  | 1683 | 1943 |
| **Madison Park Funding XLIX Ltd.** <br>4.718% due 10/19/2034 •  | $4300 | 4302 |
| **Madison Park Funding XLVI Ltd.** <br>4.672% due 10/15/2034 •  | 5650 | 5646 |
| **Madison Park Funding XXXIV Ltd.** <br>5.041% due 10/16/2037 •  | 15000 | 15012 |
| **Marble Point CLO XXIV Ltd.** <br>4.753% due 04/20/2035 •  | 5000 | 5001 |
| **Margay CLO II DAC** <br>3.244% due 07/15/2037 •  | 1400 | 1614 |
| **METAL LLC** <br>4.581% due 10/15/2042 | $2194 | 1536 |
| **Mountain View CLO XIV Ltd.** <br>6.813% due 10/15/2034 •  | 5000 | 5006 |
| **MV Credit Euro CLO III DAC** <br>3.284% due 02/15/2038 •  | 2300 | 2658 |
| **Navesink CLO 2 Ltd.** <br>4.862% due 01/15/2036 •  | $1500 | 1500 |
| **Navient Private Education Loan Trust** <br>5.237% due 07/16/2040 •  | 319 | 319 |
| **Navient Private Education Refi Loan Trust**  |  |  |
| 1.310% due 01/15/2069  | 468 | 445 |
| 1.330% due 04/15/2069  | 1820 | 1671 |
| **Navient Refinance Loan Trust** <br>4.800% due 10/15/2055 | 8163 | 8128 |
| **Navient Student Loan Trust** <br>7.230% due 03/15/2072 | 1600 | 1727 |
| **Nelnet Student Loan Trust**  |  |  |
| 4.650% due 08/20/2054  | 9373 | 9265 |
| 4.840% due 05/17/2055  | 16206 | 16147 |
| 4.973% due 02/21/2061 •  | 6330 | 6363 |
| 5.023% due 06/22/2065 •  | 7981 | 8049 |
| 6.640% due 02/20/2041  | 2076 | 2148 |
| **Neuberger Berman Loan Advisers CLO 43 Ltd.** <br>4.718% due 07/17/2036 •  | 2600 | 2601 |
| **Neuberger Berman Loan Advisers CLO 45 Ltd.** <br>4.727% due 10/14/2036 •  | 2610 | 2612 |
| **Neuberger Berman Loan Advisers Lasalle Street Lending CLO I Ltd.** <br>4.918% due 10/25/2036 •  | 6500 | 6501 |
| **Northwoods Capital 25 Ltd.** <br>4.788% due 07/20/2034 •  | 4800 | 4804 |
| **OAK Hill European Credit Partners V DAC** <br>3.013% due 01/21/2035 •  | 3525 | 4072 |
| **Ocean Trails CLO X** <br>4.972% due 10/15/2034 •  | $2000 | 2002 |
| **Ocean Trails CLO XI** <br>4.698% due 07/20/2034 •  | 5200 | 5201 |
| **Octagon Investment Partners 41 Ltd.** <br>4.762% due 10/15/2033 •  | 15000 | 15009 |
| **OFSI BSL X Ltd.** <br>4.938% due 04/20/2034 •  | 3000 | 3004 |
| **OneMain Financial Issuance Trust** <br>5.840% due 09/15/2036 | 10200 | 10349 |
| **Pagaya AI Debt Grantor Trust**  |  |  |
| 4.865% due 10/15/2032  | 2029 | 2031 |
| 5.108% due 03/15/2033  | 1100 | 1102 |
| 5.156% due 07/15/2032  | 673 | 674 |
| 5.331% due 01/15/2032  | 278 | 279 |
| 5.628% due 07/15/2032  | 6393 | 6406 |
| 5.867% due 07/15/2032  | 5826 | 5840 |
| **Pagaya AI Debt Grantor Trust & Pagaya AI Debt Trust** <br>6.093% due 11/15/2031 | 161 | 162 |
| **Pagaya AI Debt Trust**  |  |  |
| 5.373% due 01/17/2033  | 425 | 427 |
| 6.258% due 10/15/2031  | 512 | 512 |
| 6.319% due 08/15/2031  | 207 | 207 |
| **Palmer Square European Loan Funding DAC** <br>0.000% due 10/15/2035 «•(c) | 3000 | 3468 |
| **Palmer Square Loan Funding Ltd.** <br>4.480% due 08/08/2032 •  | $3600 | 3599 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Penta CLO 9 DAC** <br>2.880% due 07/25/2036 •  | 2000 | 2306 |
| **Pikes Peak CLO 2** <br>4.888% due 10/11/2034 •  | $6500 | 6509 |
| **PK ALIFT Loan Funding 6 LP** <br>5.365% due 11/15/2042 | 4690 | 4730 |
| **PK ALIFT Loan Funding 7 LP** <br>4.750% due 03/15/2043 | 2642 | 2633 |
| **Planet Fitness Master Issuer LLC** <br>5.649% due 12/06/2055 | 10000 | 9891 |
| **Post CLO Ltd.**  |  |  |
| 4.752% due 10/15/2034 •  | 1000 | 1001 |
| 4.762% due 04/20/2035 •  | 4800 | 4801 |
| **PPM CLO 5 Ltd.** <br>4.848% due 10/18/2034 •  | 2400 | 2403 |
| **Providus CLO VII DAC** <br>3.181% due 07/15/2038 •  | 1900 | 2190 |
| **QTS Issuer ABS II LLC** <br>5.044% due 10/05/2055 | $3900 | 3827 |
| **Raptor Aircraft Finance I LLC** <br>4.213% due 08/23/2044 | 1187 | 1128 |
| **Reach ABS Trust**  |  |  |
| 5.840% due 07/15/2031  | 1500 | 1514 |
| 5.880% due 07/15/2031  | 167 | 167 |
| **Rockford Tower Europe CLO DAC** <br>2.990% due 01/24/2035 •  | 1000 | 1152 |
| **Romark CLO - IV Ltd.**  |  |  |
| 4.790% due 07/10/2034 •  | $3000 | 3003 |
| 5.300% due 07/10/2034 •  | 1300 | 1298 |
| **Romark CLO V Ltd.** <br>5.472% due 01/15/2035 •  | 4250 | 4226 |
| **Romark Credit Funding II Ltd.** <br>2.625% due 10/25/2039 | 1000 | 952 |
| **Romark Credit Funding III Ltd.** <br>5.539% due 09/15/2042 | 4400 | 4406 |
| **Romark Credit Funding Ltd.** <br>5.423% due 07/29/2043 | 2600 | 2614 |
| **RRE 3 Loan Management DAC** <br>3.306% due 12/15/2039 •  | 1000 | 1153 |
| **Sculptor CLO XXVII Ltd.** <br>4.809% due 04/20/2037 •  | $3100 | 3098 |
| **Silver Rock CLO II Ltd.** <br>4.708% due 01/20/2035 •  | 3600 | 3601 |
| **Slam Ltd.**  |  |  |
| 5.335% due 09/15/2049  | 2618 | 2613 |
| 5.807% due 05/15/2050  | 5606 | 5680 |
| **SLM Private Credit Student Loan Trust**  |  |  |
| 4.206% due 12/15/2039 •  | 1334 | 1308 |
| 4.246% due 12/15/2038 •  | 174 | 173 |
| **SLM Private Education Loan Trust** <br>8.537% due 10/15/2041 •  | 2103 | 2208 |
| **SLM Student Loan Trust**  |  |  |
| 4.899% due 04/25/2049 •  | 48 | 48 |
| 5.849% due 01/27/2027 •  | 439 | 441 |
| **SMB Private Education Loan Trust**  |  |  |
| 4.643% due 09/15/2054 •  | 1251 | 1246 |
| 5.022% due 10/16/2056 •  | 930 | 939 |
| 5.122% due 03/15/2056 •  | 3190 | 3222 |
| 5.130% due 04/15/2054  | 2763 | 2785 |
| 5.240% due 03/15/2056  | 2107 | 2128 |
| 5.380% due 01/15/2053  | 415 | 420 |
| **Sound Point CLO XXIII** <br>5.104% due 07/15/2034 •  | 5700 | 5708 |
| **Stonepeak ABS** <br>2.301% due 02/28/2033 | 301 | 295 |
| **Subway Funding LLC** <br>6.028% due 07/30/2054 | 5135 | 5172 |
| **Sunbit Asset Securitization Trust** <br>5.360% due 07/15/2030 | 3200 | 3205 |
| **Switch ABS Issuer LLC** <br>5.121% due 10/25/2055 | 12500 | 12230 |
| **Symphony CLO 52 Ltd.** <br>4.815% due 01/20/2036 •  | 2700 | 2700 |
| **Symphony CLO XXV Ltd.** <br>4.718% due 04/19/2034 •  | 3100 | 3102 |
| **TCW CLO AMR Ltd.** <br>4.954% due 08/16/2034 •  | 5600 | 5607 |
| **Thayer Park CLO Ltd.** <br>4.668% due 04/20/2034 •  | 2200 | 2199 |
| **Toro European CLO 2 DAC** <br>3.020% due 07/25/2034 •  | 2100 | 2427 |
| **Toro European CLO 3 DAC** <br>3.006% due 07/15/2034 •  | 1000 | 1156 |
| **Tralee CLO V Ltd.** <br>4.748% due 10/20/2034 •  | $2800 | 2796 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Trimaran CAVU Ltd.** <br>4.667% due 10/25/2034 •  | 4800 | 4799 |
| **Trinitas CLO VI Ltd.** <br>4.778% due 01/25/2034 •  | 3000 | 3002 |
| **Trinitas CLO VII Ltd.** <br>4.728% due 01/25/2035 •  | 1800 | 1801 |
| **Trinitas CLO XIX Ltd.** <br>4.778% due 10/20/2033 •  | 2101 | 2101 |
| **Unity-Peace Park CLO Ltd.** <br>4.723% due 04/20/2035 •  | 5300 | 5302 |
| **UPG HI Issuer Trust** <br>5.000% due 09/25/2047 | 5999 | 5969 |
| **UPX HIL Issuer Trust** <br>5.160% due 01/25/2047 | 780 | 778 |
| **Valerie Asset Ltd.**  |  |  |
| 5.219% due 09/15/2050 «(j)  | 30827 | 30171 |
| 5.267% due 09/15/2050 «(j)  | 4188 | 3746 |
| **Vantage Data Centers LLC** <br>5.132% due 08/15/2055 | 5400 | 5292 |
| **VB-S1 Issuer LLC**  |  |  |
| 3.706% due 02/15/2057  | 2400 | 2202 |
| 4.693% due 03/15/2056  | 4200 | 4132 |
| **Venture 33 CLO Ltd.** <br>4.994% due 07/15/2031 •  | 496 | 497 |
| **Venture 44 CLO Ltd.** <br>4.808% due 10/20/2034 •  | 2000 | 2002 |
| **Verizon Master Trust** <br>5.350% due 09/22/2031 | 7000 | 7205 |
| **Vibrant CLO XII Ltd.** <br>4.818% due 04/20/2034 •  | 2800 | 2803 |
| **Voya CLO Ltd.** <br>4.728% due 04/20/2034 •  | 2700 | 2702 |
| **Wave LLC** <br>3.597% due 09/15/2044 | 2010 | 1973 |
| **Wind River CLO Ltd.** <br>4.778% due 07/20/2034 •  | 4000 | 4003 |
| **Wise CLO Ltd.** <br>5.468% due 04/20/2038 •  | 5000 | 5012 |
|  |  | 729909 |
| Total Asset-Backed Securities (Cost $1,084,026) |  | 1059739 |
| **SOVEREIGN ISSUES 2.5%**  |  |  |
| **Brazil Government International Bonds** <br>6.125% due 03/15/2034 | 8500 | 8506 |
| **Colombia TES**  |  |  |
| 11.000% due 08/22/2029  | 53381000 | 13459 |
| 11.750% due 01/24/2035  | 50793000 | 12593 |
| 12.750% due 11/28/2040  | 53831000 | 14268 |
| 13.250% due 02/09/2033  | 46597400 | 12493 |
| **Costa Rica Government International Bonds** <br>6.001% due 01/16/2036 | 2250 | 2680 |
| **Eagle Funding Luxco SARL** <br>5.500% due 08/17/2030 | $12000 | 12078 |
| **Japan Government Thirty Year Bonds** <br>3.200% due 09/20/2055 | 2540000 | 14710 |
| **Mexico Government International Bonds**  |  |  |
| 6.000% due 05/13/2030  | $1600 | 1655 |
| 6.875% due 05/13/2037  | 6500 | 6825 |
| 7.375% due 05/13/2055  | 4200 | 4423 |
| **Peru Government Bonds**  |  |  |
| 6.850% due 08/12/2035  | 48900 | 14348 |
| 7.300% due 08/12/2033  | 68300 | 21506 |
| **Province of Quebec** <br>4.450% due 09/01/2034 | 5800 | 4355 |
| **Republic of South Africa Government Bonds**  |  |  |
| 6.250% due 03/31/2036  | 47526 | 2258 |
| 8.750% due 01/31/2044  | 57786 | 3102 |
| 8.750% due 02/28/2048  | 35660 | 1907 |
| 8.875% due 02/28/2035  | 697212 | 40495 |
| 9.000% due 01/31/2040  | 57545 | 3201 |
| Total Sovereign Issues (Cost $193,186) |  | 194862 |
|  | SHARES |  |
| **PREFERRED SECURITIES 0.6%**  |  |  |
| **BANKING & FINANCE 0.6%**  |  |  |
| **American AgCredit Corp.**<br>5.250% due 06/15/2026 •(g) | 4000000 | 4022 |
| **Capital Farm Credit ACA**<br>8.393% due 06/15/2026 •(g) | 3300000 | 3291 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **CoBank ACB**  |  |  |  |
| 4.250% due 01/01/2027 •(g) |  | 1700000 | 1673 |
| 7.250% due 07/01/2029 •(g) |  | 10503000 | 10741 |
| **Compeer Financial ACA**<br>7.875% due 02/15/2031 •(g) |  | 20950000 | 21467 |
| **Corebridge Financial, Inc.**<br>6.875% due 12/01/2030 •(g) |  | 6500000 | 6613 |
|  |  |  | 47807 |
| **INDUSTRIALS 0.0%**  |  |  |  |
| **SVB Financial Trust**<br>0.000% due 11/07/2032 (e) |  | 112000 | 7 |
| Total Preferred Securities (Cost $49,818) |  |  | 47814 |
|  |  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **SHORT-TERM INSTRUMENTS 2.9%**  |  |  |  |
| **REPURCHASE AGREEMENTS (k) 2.8%** |  |  | 218200 |
| **TURKEY TREASURY BILLS 0.1%**  |  |  |  |
| 38.690% due 04/07/2026 (d)(e) | TRY | 169000 | 3775 |
| Total Short-Term Instruments (Cost $222,017) |  |  | 221975 |
| Total Investments in Securities (Cost $9,119,473) |  |  | 9135603 |
|  |  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 4.0%**  |  |  |  |
| **MUTUAL FUNDS (h) 4.0%**  |  |  |  |
| **PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund**  |  | 5444451 | 270045 |
| **PIMCO Preferred And Capital Securities Active Exchange-Traded Fund**  |  | 413237 | 20939 |
| **PIMCO Senior Loan Active Exchange-Traded Fund**  |  | 314081 | 15509 |
| Total Mutual Funds (Cost $304,214) |  |  | 306493 |
| Total Investments in Affiliates (Cost $304,214) |  |  | 306493 |
| Total Investments 122.0% (Cost $9,423,687) |  |  | $9442096 |
| **Financial Derivative Instruments (m)(o) 0.1**%(Cost or Premiums, net $9,719) |  |  | 10161 |
| Other Assets and Liabilities, net (22.1)% |  |  | (1711650) |
| Net Assets 100.0% |  |  | $7740607 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (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).** |
| **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.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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)** | **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.** |
| **(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.** | **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.** | **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.** | **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.** |
| **(h)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(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.** | **Contingent convertible security.** | **Contingent convertible security.** | **Contingent convertible security.** |
| **(j)** | **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 | 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 |
| 86333 AA1 | 86333 AA1 | 86333 AA1 | 1.000 | 03/26/2029 | 02/25/2026 | 10000 | 10000 | 9847 | 9847 | 0.12 | % |
| 86333 AB9 | 86333 AB9 | 86333 AB9 | 5.170 | 03/26/2031 | 02/25/2026 | 10000 | 10000 | 9771 | 9771 | 0.12 |  |
| Blue Cross & Blue Shield of Minnesota | Blue Cross & Blue Shield of Minnesota | Blue Cross & Blue Shield of Minnesota | 4.850 | 09/30/2030 | 10/03/2025 | 3800 | 3800 | 3741 | 3741 | 0.05 |  |
| Blue Cross & Blue Shield of Minnesota | Blue Cross & Blue Shield of Minnesota | Blue Cross & Blue Shield of Minnesota | 5.960 | 04/30/2032 | 09/02/2025 | 4000 | 4000 | 3981 | 3981 | 0.05 |  |
| CORP0HRG0 | CORP0HRG0 | CORP0HRG0 | 5.330 | 06/07/2035 | 03/11/2025 | 700 | 700 | 706 | 706 | 0.01 |  |
| CORPIJ944 | CORPIJ944 | CORPIJ944 | 4.920 | 03/15/2031 | 25/02/2026 | 6000 | 6000 | 5890 | 5890 | 0.08 |  |
| Deloitte LLP | Deloitte LLP | Deloitte LLP | 5.410 | 01/30/2032 | 10/30/2024 | 1200 | 1200 | 1204 | 1204 | 0.02 |  |
| Deloitte LLP | Deloitte LLP | Deloitte LLP | 5.590 | 01/30/2035 | 10/30/2024 | 1100 | 1100 | 1095 | 1095 | 0.01 |  |
| Deloitte LLP | Deloitte LLP | Deloitte LLP | 5.690 | 01/30/2037 | 10/30/2024 | 500 | 500 | 495 | 495 | 0.01 |  |
| Deloitte LLP | Deloitte LLP | Deloitte LLP | 5.790 | 01/30/2040 | 10/30/2024 | 900 | 900 | 884 | 884 | 0.01 |  |
| Deloitte LLP | Deloitte LLP | Deloitte LLP | 5.970 | 01/30/2045 | 10/30/2024 | 900 | 900 | 869 | 869 | 0.01 |  |
| FLNG Liquefaction LLC | FLNG Liquefaction LLC | FLNG Liquefaction LLC | 5.710 | 03/31/2040 | 11/19/2025 | 5800 | 5800 | 5695 | 5695 | 0.07 |  |
| Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC | 5.160 | 06/07/2032 | 03/11/2025 | 1500 | 1500 | 1510 | 1510 | 0.02 |  |
| Morgan Stanley | Morgan Stanley | Morgan Stanley | 0.000 | 04/02/2032 | 02/11/2020 | 8136 | 8136 | 6706 | 6706 | 0.09 |  |
| National Football League | National Football League | National Football League | 4.780 | 10/05/2030 | 06/27/2025 | 4500 | 4500 | 4478 | 4478 | 0.06 |  |
| National Football League | National Football League | National Football League | 5.250 | 10/05/2034 | 06/27/2025 | 5500 | 5500 | 5485 | 5485 | 0.07 |  |
| National Football League | National Football League | National Football League | 5.420 | 10/05/2037 | 06/27/2025 | 2100 | 2100 | 2095 | 2095 | 0.03 |  |
| Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | 5.150 | 05/01/2029 | 01/21/2025 | 12000 | 12000 | 12132 | 12132 | 0.16 |  |
| Royal Bank of Scotland International Ltd. | Royal Bank of Scotland International Ltd. | Royal Bank of Scotland International Ltd. | 4.660 | 12/16/2028 | 11/18/2025 | 12000 | 12000 | 11846 | 11846 | 0.15 |  |
| Texas New Mexico PR 1st Mortgage | Texas New Mexico PR 1st Mortgage | Texas New Mexico PR 1st Mortgage | 4.830 | 07/31/2030 | 07/01/2025 | 7500 | 7500 | 7473 | 7473 | 0.10 |  |
| Texas New Mexico PR 1st Mortgage | Texas New Mexico PR 1st Mortgage | Texas New Mexico PR 1st Mortgage | 5.120 | 07/31/2032 | 07/01/2025 | 5000 | 5000 | 4993 | 4993 | 0.06 |  |
| Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | 5.219 | 09/15/2050 | 03/02/2026 | 30120 | 30120 | 30171 | 30171 | 0.39 |  |
| Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | 5.267 | 09/15/2050 | 03/02/2026 | 3740 | 3740 | 3746 | 3746 | 0.05 |  |
|  |  |  |  |  | $ | 136996 | $ | 134813 | 1.74%  | 1.74%  | 1.74%  |
| **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** |
| **(k)** | **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 | Principal<br>Amount | 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> | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 3.680%  | $137800 | 137800 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | (140565) | $137800 | $ | $137800 | 137800 |
|  | 3.710  | 60500 | 60500 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | (61792) | 60500 |  | 60506 | 60506 |
|  | 3.720  | 19900 | 19900 | &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 | (20309) | 19900 |  | 19902 | 19902 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  | **(222666)** | $**218200** | **$** | $**218208** | **218208** |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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:** | **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 | Counterparty | Borrowing Rate<sup>(2)</sup> | Borrowing Rate<sup>(2)</sup> | Borrowing Rate<sup>(2)</sup> | Settlement Date | Settlement Date | Settlement Date | Maturity 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> |  | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| BOS | BOS | BOS | BOS | BOS | BOS | 3.500%  | 3.500%  | 3.500%  | 03/27/2026 | 03/27/2026 | 03/27/2026 | 06/12/2026 | 06/12/2026 | 06/12/2026 | 06/12/2026 | $ | (1959) | (1959) | (1959) | $ | $(1960) | (1960) | (1960) |
| JPS | JPS | JPS | JPS | JPS | JPS | 3.600  | 3.600  | 3.600  | 03/20/2026 | 03/20/2026 | 03/20/2026 | 05/01/2026 | 05/01/2026 | 05/01/2026 | 05/01/2026 |  | (6677) | (6677) | (6677) |  | (6685) | (6685) | (6685) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  |  |  |  |  |  |  | **$** | $**(8645)** | **(8645)** | **(8645)** |
| **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:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Description | Description | Description | Description | Description | Description | Description | Coupon | Coupon | Maturity<br>Date | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | Principal<br>Amount | Proceeds | Proceeds | Proceeds | Proceeds |  | Payable for<br>Short Sales |
| U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% | U.S. Government Agencies (11.1)% |
| &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  | &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% | 5.500% | 04/01/2056 | 04/01/2056 | $ | 126000 | 126000 | $ | (126748) | (126748) | (126748) | $ | (126600) |
| &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  | &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 | 5.500 | 05/01/2056 | 05/01/2056 |  | 144200 | 144200 |  | (145343) | (145343) | (145343) |  | (144678) |
| &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  | &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  | 6.000 | 6.000 | 06/01/2056 | 06/01/2056 |  | 566300 | 566300 |  | (575378) | (575378) | (575378) |  | (576427) |
| &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  | &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  | 7.000 | 7.000 | 05/01/2056 | 05/01/2056 |  | 9900 | 9900 |  | (10380) | (10380) | (10380) |  | (10416) |
| **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** | **Total Short Sales (11.1)%** |  |  |  |  |  |  |  | **$** | **(857849)** | **(857849)** | **(857849)** | **$** | **(858121)** |
| **(l)** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $9,025 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** |
| <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. | 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. 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 March 31, 2026 was $(70428) at a weighted average interest rate of 3.865%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| **(m)** | **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** | **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:** | **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** | **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> | <u>Variation Margin</u> |
| 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 | 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 |
| Australia Government 10-Year Bond June Futures  | Australia Government 10-Year Bond June Futures  | Australia Government 10-Year Bond June Futures  | Australia Government 10-Year Bond June Futures  | Australia Government 10-Year Bond June Futures  | 06/2026 | 06/2026 | 06/2026 | 804 | 804 | 59773 | 59773 | 59773 | 59773 | $(374) | (374) | (374) | (374) | 562 | 562 | 562 | $ | $ | 0 |
| Canada Government 10-Year Bond June Futures  | Canada Government 10-Year Bond June Futures  | Canada Government 10-Year Bond June Futures  | Canada Government 10-Year Bond June Futures  | Canada Government 10-Year Bond June Futures  | 06/2026 | 06/2026 | 06/2026 | 228 | 228 | 19670 | 19670 | 19670 | 19670 | (366) | (366) | (366) | (366) | 79 | 79 | 79 |  |  | 0 |
| Long Guilt June Futures  | Long Guilt June Futures  | Long Guilt June Futures  | Long Guilt June Futures  | Long Guilt June Futures  | 06/2026 | 06/2026 | 06/2026 | 903 | 903 | 104928 | 104928 | 104928 | 104928 | (3381) | (3381) | (3381) | (3381) | 789 | 789 | 789 |  |  | 0 |
| U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | U.S. Treasury 2-Year Note June Futures  | 06/2026 | 06/2026 | 06/2026 | 5927 | 5927 | 1229528 | 1229528 | 1229528 | 1229528 | 949 | 949 | 949 | 949 | 671 | 671 | 671 |  |  | 0 |
| U.S. Treasury 5-Year Note June Futures  | U.S. Treasury 5-Year Note June Futures  | U.S. Treasury 5-Year Note June Futures  | U.S. Treasury 5-Year Note June Futures  | U.S. Treasury 5-Year Note June Futures  | 06/2026 | 06/2026 | 06/2026 | 10582 | 10582 | 1144757 | 1144757 | 1144757 | 1144757 | (16029) | (16029) | (16029) | (16029) | 1447 | 1447 | 1447 |  |  | 0 |
| U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | U.S. Treasury 10-Year Note June Futures  | 06/2026 | 06/2026 | 06/2026 | 4223 | 4223 | 468951 | 468951 | 468951 | 468951 | (8599) | (8599) | (8599) | (8599) | 759 | 759 | 759 |  |  | 0 |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 06/2026 | 06/2026 | 194 | 194 | 22022 | 22022 | 22022 | 22022 | (121) | (121) | (121) | (121) | 41 | 41 | 41 |  |  | 0 |
| U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 06/2026 | 06/2026 | 569 | 569 | 64795 | 64795 | 64795 | 64795 | (2290) | (2290) | (2290) | (2290) | 44 | 44 | 44 |  |  | 0 |
| U.S. Treasury Ultra Long-Term Bond June Futures  | U.S. Treasury Ultra Long-Term Bond June Futures  | U.S. Treasury Ultra Long-Term Bond June Futures  | U.S. Treasury Ultra Long-Term Bond June Futures  | U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 06/2026 | 06/2026 | 1009 | 1009 | 117612 | 117612 | 117612 | 117612 | (3803) | (3803) | (3803) | (3803) | 0 | 0 | 0 |  |  | (79) |
| **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** | **(34014)** | **(34014)** | **(34014)** | **$** | **4392** | **4392** | **$** | **$** | **$** | **(79)** |
| **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 | Fixed <br>Receive Rate | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> |  | Notional<br>Amount<sup>(3)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) |  |  | 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 | Asset |  | Liability |
| AES Corp.  | AES Corp.  | 5.000% | 06/20/2026 | 0.179 | 0.179 | 0.179 | $ | $3400 | 3400 | 335 | 335 | $ | $ | (293) | $ | 42 | 42 | 42 | 0 | 0 | 0 | $ | 0 |
| AT&T, Inc.  | AT&T, Inc.  | 1.000 | 12/20/2027 | 0.368 | 0.368 | 0.368 |  | 7300 | 7300 | 82 | 82 |  |  | (2) |  | 80 | 80 | 80 | 1 | 1 | 1 |  | 0 |
| Ford Motor Credit Co. LLC  | Ford Motor Credit Co. LLC  | 5.000 | 06/20/2027 | 0.653 | 0.653 | 0.653 |  | 300 | 300 | 33 | 33 |  |  | (17) |  | 16 | 16 | 16 | 0 | 0 | 0 |  | 0 |
| NatWest Group PLC  | NatWest Group PLC  | 1.000 | 12/20/2030 |  |  |  | EUR | 8900 | 8900 | 125 | 125 |  |  | (8) |  | 117 | 117 | 117 | 5 | 5 | 5 |  | 0 |
| Valeo SA  | Valeo SA  | 1.000 | 06/20/2028 | 0.833 | 0.833 | 0.833 |  | 2500 | 2500 | (125) | (125) |  |  | 137 |  | 12 | 12 | 12 | 2 | 2 | 2 |  | 0 |
|  |  |  |  |  |  |  |  |  |  | 450 | 450 | $ | $ | (183) | $ | 267 | 267 | 267 | 8 | 8 | 8 | $ | 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** | **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 | Floating Rate Index | Floating Rate Index | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date |  | Notional<br>Amount | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) |  |  | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Market<br>Value | Asset | Asset | Asset | Asset | Liability |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | Annual | 02/28/2029 | 02/28/2029 | 02/28/2029 | $ | 93500 | 93500 | $0 | 0 | $ | $ | 856 | 856 | $856 | 856 | 856 | $0 | 0 | 0 | 0 | $(65) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | Annual | 02/28/2029 | 02/28/2029 | 02/28/2029 |  | 93500 | 93500 | 0 | 0 |  |  | 805 | 805 | 805 | 805 | 805 | 0 | 0 | 0 | 0 | (65) |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.281 | Annual | 02/28/2029 | 120700 | 0 | 1038 | 1038 | 0 | (83) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.620 | Annual | 02/14/2030 | 133500 | 2110 | (2283) | (173) | 0 | (129) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.325 | Annual | 08/31/2030 | 219615 | 717 | 1461 | 2178 | 0 | (218) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.337 | Annual | 08/31/2030 | 16200 | 0 | 153 | 153 | 0 | (16) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.369 | Annual | 08/31/2030 | 16100 | 0 | 133 | 133 | 0 | (16) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.407 | Annual | 08/31/2030 | 5600 | 0 | 38 | 38 | 0 | (6) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.422 | Annual | 08/31/2030 | 8300 | 0 | 52 | 52 | 0 | (8) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.264 | Annual | 06/30/2031 | 46800 | 0 | 1111 | 1111 | 0 | (50) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.266 | Annual | 06/30/2031 | 155700 | 0 | 3675 | 3675 | 0 | (165) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.564 | Annual | 01/31/2033 | 6100 | 0 | 51 | 51 | 0 | (7) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.880 | Annual | 07/10/2034 | 20500 | (62) | (50) | (112) | 0 | (21) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.885 | Annual | 07/12/2034 | 10400 | (35) | (27) | (62) | 0 | (10) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.850 | Annual | 08/05/2034 | 4400 | (17) | 2 | (15) | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.645 | Annual | 08/07/2034 | 4400 | (15) | 71 | 56 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 08/13/2034 | 10100 | (37) | 138 | 101 | 0 | (10) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.569 | Annual | 08/14/2034 | 10100 | (33) | 220 | 187 | 0 | (10) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.586 | Annual | 08/19/2034 | 10100 | (35) | 209 | 174 | 0 | (10) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.595 | Annual | 08/19/2034 | 4400 | (16) | 89 | 73 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.532 | Annual | 08/20/2034 | 10100 | (36) | 252 | 216 | 0 | (10) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.550 | Annual | 08/21/2034 | 10000 | (36) | 236 | 200 | 0 | (10) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.558 | Annual | 08/21/2034 | 4400 | (15) | 100 | 85 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.613 | Annual | 08/22/2034 | 4400 | (16) | 82 | 66 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.555 | Annual | 08/28/2034 | 4400 | (16) | 102 | 86 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.565 | Annual | 08/28/2034 | 4400 | (16) | 98 | 82 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.599 | Annual | 08/28/2034 | 4400 | (16) | 87 | 71 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.600 | Annual | 08/28/2034 | 10100 | (41) | 202 | 161 | 0 | (10) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.643 | Annual | 08/28/2034 | 4400 | (16) | 72 | 56 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.514 | Annual | 09/04/2034 | 4400 | (17) | 117 | 100 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.525 | Annual | 09/04/2034 | 4400 | (16) | 112 | 96 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.408 | Annual | 09/05/2034 | 5000 | (20) | 175 | 155 | 0 | (5) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.410 | Annual | 09/05/2034 | 4400 | (17) | 152 | 135 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.232 | Annual | 09/10/2034 | 2200 | (10) | 108 | 98 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.280 | Annual | 09/16/2034 | 10100 | (44) | 455 | 411 | 0 | (9) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.231 | Annual | 09/18/2034 | 4400 | (16) | 212 | 196 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.248 | Annual | 09/18/2034 | 4400 | (16) | 206 | 190 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.012 | Annual | 02/14/2035 | 72700 | 32 | (1144) | (1112) | 0 | (71) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.640 | Annual | 08/15/2035 | 28900 | 58 | 386 | 444 | 0 | (25) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 08/15/2035 | 28800 | (25) | 331 | 306 | 0 | (25) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/15/2035 | 49117 | 125 | 339 | 464 | 0 | (43) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.712 | Annual | 11/15/2035 | 7500 | 0 | 81 | 81 | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 02/15/2036 | 7100 | 0 | 106 | 106 | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.755 | Annual | 02/15/2036 | 15000 | 0 | 130 | 130 | 0 | (12) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.066 | Annual | 02/15/2046 | 2700 | 0 | 37 | 37 | 5 | 0 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.076 | Annual | Annual | 02/15/2046 | 4500 |  | 0 |  | 55 |  | 55 |  | 8 | 8 |  | 0 |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.998 | Annual | Annual | 11/15/2053 | 3500 |  | 0 |  | 92 |  | 92 |  | 12 | 12 |  | 0 |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.010 | Annual | Annual | 11/15/2053 | 3500 |  | 0 |  | 85 |  | 85 |  | 13 | 13 |  | 0 |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.015 | Annual | Annual | 11/15/2053 | 3500 |  | 0 |  | 83 |  | 83 |  | 13 | 13 |  | 0 |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.082 | Annual | Annual | 11/15/2053 | 2800 |  | 0 |  | 36 |  | 36 |  | 10 | 10 |  | 0 |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.083 | Annual | Annual | 11/15/2053 | 4200 |  | 0 |  | 53 |  | 53 |  | 15 | 15 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | Annual | 02/12/2055 | 39000 |  | 6328 |  | 1243 |  | 7571 |  | 139 | 139 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.052 | Annual | Annual | 02/15/2056 | 3400 |  | 0 |  | 48 |  | 48 |  | 13 | 13 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.059 | Annual | Annual | 02/15/2056 | 3600 |  | 0 |  | 46 |  | 46 |  | 14 | 14 |  | 0 |
| Pay | Pay | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 4.000 | Semi-Annual | Semi-Annual | 12/17/2035 | 134400 |  | (2118) |  | (5364) |  | (7482) |  | 1193 | 1193 |  | 0 |
| Receive | Receive | CAONREPO | CAONREPO | 2.740 | Semi-Annual | Semi-Annual | 06/01/2034 | 7100 |  | 0 |  | 128 |  | 128 |  | 0 | 0 |  | (13) |
| Pay | Pay | CDX.IG-46 5-Year Index | CDX.IG-46 5-Year Index | 1.000 | Quarterly | Quarterly | 06/20/2031 | 165800 |  | 2668 |  | 249 |  | 2917 |  | 194 | 194 |  | 0 |
|  |  |  |  |  |  |  |  | $ | $9281 | 9281 | $7530 | 7530 | $16811 | 16811 | $1629 | 1629 | 1629 | $(1192) | (1192) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | $**9731** | **9731** | $**7347** | **7347** | $**17078** | **17078** | $**1637** | **1637** | **1637** | $**(1192)** | **(1192)** |
| **(n)** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $86,422 and cash of $10,152 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| <sup>(1)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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 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>(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. |
| <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. |
| <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. |
| **(o)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **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:** |
|  |  |  |  |  |  |  |  |  |  |  |  | <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 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 | 04/2026  | 04/2026  | 04/2026  | CAD | 47206 | 47206 | $ | $34462 | 34462 | 34462 | 526 | 526 | 526 | 526 | $0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | SGD | 37 | 37 |  | 29 | 29 | 29 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 04/2026  | 04/2026  | 04/2026  | BRL | 7676 | 7676 |  | 1466 | 1466 | 1466 | 0 | 0 | 0 | 0 | (16) | (16) | (16) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | CNH | 13489 | 13489 |  | 1955 | 1955 | 1955 | 0 | 0 | 0 | 0 | (3) | (3) | (3) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | INR | 274463 | 274463 |  | 2923 | 2923 | 2923 | 24 | 24 | 24 | 24 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | KRW | 2053172 | 2053172 |  | 1397 | 1397 | 1397 | 32 | 32 | 32 | 32 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | PLN | 7009 | 7009 |  | 1894 | 1894 | 1894 | 5 | 5 | 5 | 5 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | $ | $1471 | 1471 | BRL | 7676 | 7676 | 7676 | 11 | 11 | 11 | 11 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 1069 | 1069 | CAD | 1458 | 1458 | 1458 | 0 | 0 | 0 | 0 | (21) | (21) | (21) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 2923 | 2923 | INR | 274954 | 274954 | 274954 | 3 | 3 | 3 | 3 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 554 | 554 | MXN | 10203 | 10203 | 10203 | 15 | 15 | 15 | 15 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 6256 | 6256 | PLN | 23100 | 23100 | 23100 | 0 | 0 | 0 | 0 | (34) | (34) | (34) |
|  |  |  | 06/2026  | 06/2026  | 06/2026  | ILS | 34684 | 34684 | $ | $11160 | 11160 | 11160 | 106 | 106 | 106 | 106 | 0 | 0 | 0 |
|  |  |  | 06/2026  | 06/2026  | 06/2026  | MXN | 69042 | 69042 |  | 3852 | 3852 | 3852 | 23 | 23 | 23 | 23 | 0 | 0 | 0 |
|  |  |  | 06/2026  | 06/2026  | 06/2026  | $ | $1466 | 1466 | BRL | 7778 | 7778 | 7778 | 16 | 16 | 16 | 16 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 04/2026  | 04/2026  | 04/2026  | AUD | 9585 | 9585 | $ | $6832 | 6832 | 6832 | 219 | 219 | 219 | 219 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | BRL | 53555 | 53555 |  | 10261 | 10261 | 10261 | 0 | 0 | 0 | 0 | (78) | (78) | (78) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | CNH | 4555 | 4555 |  | 662 | 662 | 662 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | ILS | 12302 | 12302 |  | 3984 | 3984 | 3984 | 71 | 71 | 71 | 71 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | KRW | 3116420 | 3116420 |  | 2079 | 2079 | 2079 | 8 | 8 | 8 | 8 | (2) | (2) | (2) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | THB | 313993 | 313993 |  | 9705 | 9705 | 9705 | 179 | 179 | 179 | 179 | (7) | (7) | (7) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | $ | $5744 | 5744 | AUD | 8217 | 8217 | 8217 | 0 | 0 | 0 | 0 | (75) | (75) | (75) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 10330 | 10330 | BRL | 53555 | 53555 | 53555 | 9 | 9 | 9 | 9 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 17546 | 17546 | IDR | 296920195 | 296920195 | 296920195 | 1 | 1 | 1 | 1 | (57) | (57) | (57) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 2935 | 2935 | ILS | 9297 | 9297 | 9297 | 22 | 22 | 22 | 22 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 13910 | 13910 | INR | 1288108 | 1288108 | 1288108 | 0 | 0 | 0 | 0 | (169) | (169) | (169) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 1412 | 1412 | KRW | 2109617 | 2109617 | 2109617 | 2 | 2 | 2 | 2 | (11) | (11) | (11) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 5379 | 5379 | PLN | 19396 | 19396 | 19396 | 0 | 0 | 0 | 0 | (154) | (154) | (154) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 4 | 4 | THB | 118 | 118 | 118 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  |  | 04/2026  | 04/2026  | 04/2026  |  | 11987 | 11987 | TWD | 383169 | 383169 | 383169 | 1 | 1 | 1 | 1 | (29) | (29) | (29) |
|  |  |  | 04/2026  | 04/2026  | 04/2026  | ZAR | 31122 | 31122 | $ | $1838 | 1838 | 1838 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
|  |  |  | 05/2026  | 05/2026  | 05/2026  | ILS | 9287 | 9287 |  | 2935 | 2935 | 2935 | 0 | 0 | 0 | 0 | (22) | (22) | (22) |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 05/2026  | 1039881 | 10990 | 0 | (45) |
|  | 05/2026  | 238773 | 7410 | 0 | (33) |
|  | 05/2026  | $4300 | 22571 | 31 | 0 |
|  | 05/2026  | 5508 | 93759720 | 14 | 0 |
|  | 05/2026  | 1098 | 36046 | 0 | (2) |
|  | 06/2026  | 614 | $0 | 0 | 0 |
|  | 06/2026  | 51410201 | 3055 | 32 | 0 |
|  | 06/2026  | $1642 | 27675202 | 0 | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | 04/2026  | 73 | $53 | 0 | 0 |
|  | 04/2026  | 977902 | 21301 | 0 | (221) |
|  | 04/2026  | $1001 | 3601 | 0 | (31) |
|  | 04/2026  | 3 | 89 | 0 | 0 |
|  | 04/2026  | 15540 | 712190 | 109 | 0 |
|  | 04/2026  | 180824 | $11050 | 378 | 0 |
|  | 05/2026  | 326818 | 7009 | 0 | (47) |
|  | 05/2026  | $53 | 73 | 0 | 0 |
|  | 05/2026  | 22 | 18 | 0 | 0 |
|  | 06/2026  | 138 | $45 | 1 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | 04/2026  | $3541 | 565188 | 20 | 0 |
|  | 04/2026  | 36424 | 63094 | 0 | (167) |
|  | 04/2026  | 11578 | 41879 | 0 | (297) |
|  | 05/2026  | 563486 | $3541 | 0 | (20) |
|  | 05/2026  | 63094 | 36465 | 170 | 0 |
|  | 05/2026  | 6022 | 1778 | 52 | 0 |
|  | 06/2026  | 21316 | 6323 | 221 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | 04/2026  | 12599 | 9279 | 222 | 0 |
|  | 04/2026  | 4581 | 664 | 0 | (1) |
|  | 04/2026  | 36945584 | 9704 | 0 | (349) |
|  | 04/2026  | 1539 | 1781 | 2 | 0 |
|  | 04/2026  | 586 | 785 | 9 | 0 |
|  | 04/2026  | 2094731 | 22413 | 291 | 0 |
|  | 04/2026  | 21470 | 2220 | 3 | 0 |
|  | 04/2026  | 23199 | 6691 | 26 | 0 |
|  | 04/2026  | 10620 | 1141 | 19 | 0 |
|  | 04/2026  | 309 | 10 | 1 | 0 |
|  | 04/2026  | 16857 | 529 | 2 | 0 |
|  | 04/2026  | $1650 | 1230 | 0 | (22) |
|  | 04/2026  | 54836 | 5053621 | 45 | (1342) |
|  | 05/2026  | 15529470 | $4207 | 14 | 0 |
|  | 05/2026  | 9 | 0 | 0 | 0 |
|  | 06/2026  | 33530221 | 8868 | 0 | (111) |
|  | 06/2026  | 298187 | 18 | 0 | 0 |
|  | 06/2026  | 3513 | 1139 | 20 | 0 |
|  | 06/2026  | $1143 | 19202317 | 0 | (14) |
|  | 06/2026  | 10630 | 186715 | 0 | (275) |
|  | 07/2026  | 7556576 | $1979 | 0 | (32) |
|  | 09/2026  | $1123 | 20092 | 0 | (18) |
|  | 01/2027  | 9073 | $2662 | 93 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | 04/2026  | 31829 | 4603 | 0 | (19) |
|  | 04/2026  | 24820 | 8018 | 121 | 0 |
|  | 04/2026  | 857383 | 9110 | 67 | (12) |
|  | 04/2026  | $28607 | 41701 | 165 | 0 |
|  | 04/2026  | 9551 | 65438 | 0 | (50) |
|  | 04/2026  | 10262 | 966131 | 65 | (61) |
|  | 04/2026  | 54361 | 69441 | 0 | (351) |
|  | 04/2026  | 3775 | 123299 | 0 | (33) |
|  | 04/2026  | 880 | 28033 | 0 | (4) |
|  | 05/2026  | 41701 | $28596 | 0 | (165) |
|  | 05/2026  | 69285 | 54361 | 348 | 0 |
|  | 05/2026  | $4602 | 31752 | 19 | 0 |
|  | 06/2026  | 123052 | $3775 | 21 | 0 |
|  | 06/2026  | 1670 | 53 | 1 | 0 |
|  | 08/2026  | 8591 | 2542 | 91 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | 04/2026  | 17866 | 12662 | 335 | 0 |
|  | 04/2026  | 8931 | 11572 | 402 | 0 |
|  | 04/2026  | 11450 | 15341 | 186 | 0 |
|  | 04/2026  | 366080 | 2343 | 36 | 0 |
|  | 04/2026  | 6 | 5 | 0 | 0 |
|  | 04/2026  | $9667 | 7186 | 0 | (156) |
|  | 04/2026  | 5096 | 813286 | 29 | 0 |
|  | 04/2026  | 1111 | 4011 | 0 | (31) |
|  | 04/2026  | 293 | 375 | 0 | (2) |
|  | 05/2026  | 15445 | $4881 | 0 | (38) |
|  | 05/2026  | 810829 | 5096 | 0 | (29) |
|  | 05/2026  | 374 | 293 | 2 | 0 |
|  | 05/2026  | $1952 | 7214917 | 0 | (4) |
|  | 05/2026  | 15341 | 11450 | 0 | (186) |
|  | 06/2026  | 8812 | $2859 | 50 | 0 |
|  | 06/2026  | $3980 | 69343 | 0 | (135) |
|  | 07/2026  | 26112 | $7796 | 337 | 0 |
|  | 08/2026  | 7368937 | 1952 | 0 | 0 |
|  | 09/2026  | $912 | 16097 | 0 | (26) |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | 04/2026  | 252166 | $47842 | 0 | (840) |
|  | 04/2026  | 3389940 | 900 | 0 | (19) |
|  | 04/2026  | 11948 | 3843 | 41 | 0 |
|  | 04/2026  | 38099 | 418 | 15 | 0 |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 04/2026  | 200275 | 6283 | 204 | 0 |
|  | 04/2026  | $48161 | 252166 | 521 | 0 |
|  | 04/2026  | 4587 | 31492 | 0 | (14) |
|  | 04/2026  | 504 | 8511093 | 0 | (2) |
|  | 04/2026  | 4688 | 86450 | 132 | 0 |
|  | 04/2026  | 4326 | 141971 | 0 | (17) |
|  | 05/2026  | 203 | 153 | 0 | 0 |
|  | 06/2026  | 24175587 | $1434 | 13 | 0 |
|  | 06/2026  | 141719 | 4326 | 3 | 0 |
|  | 06/2026  | $4387 | 23344 | 61 | 0 |
|  | 06/2026  | 2510 | 42480248 | 0 | (12) |
|  | 06/2026  | 7699 | 134127 | 0 | (262) |
|  | 07/2026  | 223323 | $59 | 0 | (1) |
|  | 07/2026  | $43455 | 233841 | 777 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; IND | 04/2026  | 51160 | $60408 | 1276 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | 04/2026  | 42464 | 6139 | 0 | (26) |
|  | 04/2026  | 5053 | 5802 | 0 | (38) |
|  | 04/2026  | 434298 | 4619 | 33 | 0 |
|  | 04/2026  | 19989 | 5437 | 62 | (9) |
|  | 04/2026  | 52043 | 41296 | 818 | 0 |
|  | 04/2026  | $4619 | 435041 | 10 | 0 |
|  | 04/2026  | 17229 | 309415 | 48 | (33) |
|  | 04/2026  | 1164 | 11155 | 0 | (12) |
|  | 04/2026  | 603683 | $36025 | 419 | (23) |
|  | 05/2026  | 1872 | 1283 | 0 | (8) |
|  | 05/2026  | 4432 | 28 | 0 | 0 |
|  | 05/2026  | $4840 | 33409 | 23 | 0 |
|  | 06/2026  | 8657 | $2802 | 42 | 0 |
|  | 06/2026  | $25 | 426178 | 0 | 0 |
|  | 06/2026  | 8771 | 157279 | 0 | (49) |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | 04/2026  | 3366 | $2348 | 26 | 0 |
|  | 04/2026  | 891 | 648 | 8 | 0 |
|  | 04/2026  | 1144 | 1447 | 16 | 0 |
|  | 04/2026  | 714 | 947 | 2 | 0 |
|  | 04/2026  | 403303 | 2594 | 53 | 0 |
|  | 04/2026  | 2645994 | 1808 | 49 | 0 |
|  | 04/2026  | 476 | 49 | 0 | (1) |
|  | 04/2026  | 30595 | 3288 | 56 | 0 |
|  | 04/2026  | 17725 | 13917 | 131 | 0 |
|  | 04/2026  | 115089 | 3611 | 117 | 0 |
|  | 04/2026  | $5316 | 7621 | 0 | (58) |
|  | 04/2026  | 1401 | 1113 | 0 | (9) |
|  | 04/2026  | 2997 | 11097670 | 22 | 0 |
|  | 04/2026  | 6943 | 5187 | 0 | (78) |
|  | 04/2026  | 5814 | 925903 | 20 | 0 |
|  | 04/2026  | 1407 | 25978 | 41 | 0 |
|  | 04/2026  | 1164 | 11100 | 0 | (18) |
|  | 05/2026  | 223527 | $1403 | 0 | (10) |
|  | 05/2026  | $1019 | 772 | 4 | 0 |
|  | 05/2026  | 42 | 411 | 0 | 0 |
|  | 06/2026  | 8796 | $487 | 0 | (1) |
|  | 07/2026  | 11354495 | 2997 | 0 | (20) |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | 04/2026  | 1699 | 480 | 22 | 0 |
|  | 06/2026  | 354536 | 21 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; NGF | 04/2026  | 309 | 32 | 0 | 0 |
|  | 04/2026  | $34006 | 1560457 | 247 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | 04/2026  | 287907 | $1846 | 31 | 0 |
|  | 04/2026  | 63094 | 37593 | 1337 | 0 |
|  | 04/2026  | 4 | 3 | 0 | 0 |
|  | 04/2026  | 10601 | 333 | 11 | 0 |
|  | 04/2026  | $42839 | 59311 | 0 | (201) |
|  | 04/2026  | 75 | 55 | 0 | (1) |
|  | 04/2026  | 8390 | 141681930 | 0 | (42) |
|  | 04/2026  | 6104 | 556349 | 0 | (228) |
|  | 04/2026  | 2135 | 338300 | 0 | (3) |
|  | 04/2026  | 1777 | 6428 | 0 | (45) |
|  | 04/2026  | 11743 | 374755 | 0 | (33) |
|  | 05/2026  | 59230 | $42839 | 200 | 0 |
|  | 06/2026  | $4227 | 71259911 | 0 | (37) |
|  | 07/2026  | 8701858 | $2259 | 0 | (52) |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | 04/2026  | 3342 | 3955 | 92 | 0 |
|  | 04/2026  | 1587990 | 10206 | 200 | 0 |
|  | 04/2026  | $11253 | 8980 | 25 | (47) |
|  | 04/2026  | 70502 | 61094 | 113 | 0 |
|  | 04/2026  | 431 | 4117 | 4 | 0 |
|  | 05/2026  | 7891 | $9879 | 0 | (25) |
|  | 05/2026  | 61094 | 70612 | 0 | (110) |
|  | 05/2026  | 4111 | 431 | 0 | (4) |
|  | 06/2026  | 6070 | 1967 | 32 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | 04/2026  | 26722 | 19016 | 579 | 0 |
|  | 04/2026  | 1861 | 12 | 0 | 0 |
|  | 04/2026  | $4080 | 37105 | 0 | (161) |
|  | 08/2026  | 17696758 | $4640 | 0 | (31) |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | 04/2026  | 10544 | 2866 | 25 | 0 |
|  | 04/2026  | $5519 | 20519631 | 64 | 0 |
|  | 04/2026  | 8073 | 29169 | 0 | (215) |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | 05/2026  |  | 2282 | 2282 | 2282 | COP | 8439284 | 8439284 |  | 0 | 0 |  | (3) | (3) |
|  |  |  | 06/2026  | COP | 44307441 | 44307441 | 44307441 | $ | 11687 | 11687 |  | 0 | 0 |  | (177) | (177) |
|  |  |  | 06/2026  | ILS | 9960 | 9960 | 9960 |  | 3222 | 3222 |  | 47 | 47 |  | 0 | 0 |
|  |  |  | 06/2026  | MXN | 11218 | 11218 | 11218 |  | 625 | 625 |  | 3 | 3 |  | 0 | 0 |
|  |  |  | 08/2026  | COP | 8619571 | 8619571 | 8619571 |  | 2282 | 2282 |  | 0 | 0 |  | (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** | $**13401** | **13401** | **13401** | $**(7998)** | **(7998)** | **(7998)** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> |
| Counterparty | Counterparty | Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| CBK | CBK | Panama Government International Bonds  | 1.000% | Quarterly | 06/20/2026 | 06/20/2026 | 0.516% | 0.516% | 0.516% | $1500 | 3 | $(1) | (1) | 2 | 2 | $0 |
| GST | GST | Soft Bank Group,Inc.  | 1.000 | Quarterly | 06/20/2026 | 06/20/2026 | 1.662 | 1.662 | 1.662 | 1700 | (15) | 13 | 13 | 0 | 0 | (2) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **(12)** | $**12** | **12** | **2** | **2** | $**(2)** |
| **(p)** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,314 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** |
| <sup>(1)</sup> | 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 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>(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. |
| <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. |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | 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 3 | Level 3 | Fair Value<br>at 03/31/2026 | Fair Value<br>at 03/31/2026 | Fair Value<br>at 03/31/2026 |  |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | 0 | 0 | 5964 | $34854 | 34854 | $ | 40818 | 40818 |  |
| 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 | 0 | 0 | 0 | 0 | 1194491 | 38797 | 38797 |  | 1233288 | 1233288 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 0 | 0 | 387934 | 12058 | 12058 |  | 399992 | 399992 |  |
| Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | 0 | 0 | 0 | 0 | 144247 | 17827 | 17827 |  | 162074 | 162074 |  |
| 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 | California | 0 | 0 | 0 | 0 | 20897 | 0 | 0 |  | 20897 | 20897 |  |
| Illinois | Illinois | Illinois | Illinois | Illinois | Illinois | 0 | 0 | 0 | 0 | 5225 | 0 | 0 |  | 5225 | 5225 |  |
| Indiana | Indiana | Indiana | Indiana | Indiana | Indiana | 0 | 0 | 0 | 0 | 7931 | 0 | 0 |  | 7931 | 7931 |  |
| Minnesota | Minnesota | Minnesota | Minnesota | Minnesota | Minnesota | 0 | 0 | 0 | 0 | 9993 | 0 | 0 |  | 9993 | 9993 |  |
| New York | New York | New York | New York | New York | New York | 0 | 0 | 0 | 0 | 4841 | 0 | 0 |  | 4841 | 4841 |  |
| West Virginia | West Virginia | West Virginia | West Virginia | West Virginia | West Virginia | 0 | 0 | 0 | 0 | 3244 | 0 | 0 |  | 3244 | 3244 |  |
| 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 | 4087800 | 0 | 0 |  | 4087800 | 4087800 |  |
| 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 | 0 | 1074993 | 0 | 0 |  | 1074993 | 1074993 |  |
| 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 | 431844 | 128273 | 128273 |  | 560117 | 560117 |  |
| 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 | 0 | 0 | 0 | 0 | 8223 | 0 | 0 |  | 8223 | 8223 |  |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | 0 | 0 | 0 | 0 | 52844 | 0 | 0 |  | 52844 | 52844 |  |
| CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | 0 | 0 | 0 | 0 | 91533 | 0 | 0 |  | 91533 | 91533 |  |
| Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | 0 | 0 | 0 | 0 | 151402 | 0 | 0 |  | 151402 | 151402 |  |
| Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | 0 | 0 | 0 | 0 | 3338 | 0 | 0 |  | 3338 | 3338 |  |
| Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | 0 | 0 | 0 | 0 | 22490 | 0 | 0 |  | 22490 | 22490 |  |
| Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | 0 | 0 | 0 | 0 | 686524 | 43385 | 43385 |  | 729909 | 729909 |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 | 0 | 0 | 194862 | 0 | 0 |  | 194862 | 194862 |  |
| 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 | Banking & Finance | 0 | 0 | 0 | 0 | 47807 | 0 | 0 |  | 47807 | 47807 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 0 | 0 | 7 | 0 | 0 |  | 7 | 7 |  |
| 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 |  |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 | 0 | 0 | 218200 | 0 | 0 |  | 218200 | 218200 |  |
| Turkey Treasury Bills | Turkey Treasury Bills | Turkey Treasury Bills | Turkey Treasury Bills | Turkey Treasury Bills | Turkey Treasury Bills | 0 | 0 | 0 | 0 | 3775 | 0 | 0 |  | 3775 | 3775 |  |
|  |  |  |  |  |  | $0 | 0 | 0 | 0 | 8860409 | $275194 | 275194 | $ | 9135603 | 9135603 |  |
| **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** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 306493 | 306493 | 306493 | 306493 | 0 | 0 | 0 |  | 306493 | 306493 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $306493 | 306493 | 306493 | 306493 | 8860409 | $275194 | 275194 | $ | 9442096 | 9442096 |  |

---

------

<br> Schedule of Investments PIMCO Active Bond Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** | **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 | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | $0 | 0 | 0 | 0 | $(858121) | (858121) | $0 | 0 | $ | (858121) |  |  |
| **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 | 1430 | 1430 | 1430 | 1430 | 4599 | 4599 | 0 | 0 |  | 6029 |  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | 0 | 13403 | 13403 | 0 | 0 |  | 13403 |  |  |
|  |  |  |  |  |  | $1430 | 1430 | 1430 | 1430 | $18002 | 18002 | $0 | 0 | $ | 19432 |  |  |
| **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 | 0 | 0 | 0 | 0 | (1271) | (1271) | 0 | 0 |  | (1271) |  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | 0 | (8000) | (8000) | 0 | 0 |  | (8000) |  |  |
|  |  |  |  |  |  | $0 | 0 | 0 | 0 | $(9271) | (9271) | $0 | 0 | $ | (9271) |  |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $1430 | 1430 | 1430 | 1430 | $8731 | 8731 | $0 | 0 | $ | 10161 |  |  |
| Totals | Totals | Totals | Totals | Totals | Totals | $307923 | 307923 | 307923 | 307923 | $8011019 | 8011019 | $275194 | 275194 | $ | 8594136 |  |  |
| **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** |
| Category and Subcategory | Beginning<br>Balance<br>at 06/30/2025 | 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 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup> | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup> |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | 4198 | 31196 | $ | $(514) | $ | 1 | $ | $0 | $ | (27) | $0 | 0 | $0 | 0 | 34854 | $ | 0 |
| Corporate Bonds & Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Banking & Finance | 10801 | 32300 |  | (4000) |  | 0 |  | 0 |  | (304) | 0 | 0 | 0 | 0 | 38797 |  | 0 |
| Industrials | 12142 | 12100 |  | (12100) |  | 0 |  | 0 |  | (84) | 0 | 0 | 0 | 0 | 12058 |  | 0 |
| Utilities | 12195 | 5800 |  | 0 |  | 0 |  | 0 |  | (168) | 0 | 0 | 0 | 0 | 17827 |  | 0 |
| U.S. Government Agencies | 13016 | 0 |  | (2636) |  | (1) |  | (3) |  | 83 | 0 | 0 | (10459) | (10459) | 0 |  | 0 |
| Non-Agency Mortgage-Backed Securities | 36470 | 88770 |  | (576) |  | 48 |  | 28 |  | 3533 | 0 | 0 | 0 | 0 | 128273 |  | 0 |
| Asset-Backed Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other ABS | 7362 | 43313 |  | (392) |  | 2 |  | 0 |  | 4 | 0 | 0 | (6904) | (6904) | 43385 |  | 0 |
| Totals | 96184 | 213479 | $ | $(20218) | $ | 50 | $ | $25 | $ | 3037 | $0 | 0 | $(17363) | (17363) | 275194 | $ | 0 |
| <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) |
| Category and Subcategory | Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | &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) | 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 | $3683 | 3683 | &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 | 95.500 | 95.500 |  |  |
|  |  | 31271 | 31271 | &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;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | 96.000 - 100.000 | 96.000 - 100.000 | 99.519 | 99.519 |
| 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 | 38797 | 38797 | &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 | 4.923 - 6.285 | 4.923 - 6.285 | 5.283 | 5.283 |
| Industrials | Industrials | 12058 | 12058 | &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 | 4.871 - 5.445 | 4.871 - 5.445 | 5.162 | 5.162 |
| Utilities | Utilities | 17827 | 17827 | &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 | 4.760 - 5.989 | 4.760 - 5.989 | 5.153 | 5.153 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 62037 | 62037 | &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 | 5.342 - 7.318 | 5.342 - 7.318 | 5.780 | 5.780 |
|  |  | 66236 | 66236 | &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;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | 100.000 | 100.000 |  |  |
| 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 |
| Other ABS | Other ABS | 6000 | 6000 | &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 | 5.328 | 5.328 |  |  |
|  |  | 33917 | 33917 | &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;&nbsp;&nbsp;&nbsp;&nbsp; Proxy pricing | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | 89.281 - 97.704 | 89.281 - 97.704 | 96.774 | 96.774 |
|  |  | 3468 | 3468 | &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;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | 100.000 | 100.000 |  |  |
| Total | Total | $275194 | 275194 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. |

---

------

<br> Schedule of Investments PIMCO Broad U.S. TIPS Index Exchange-Traded Fund March 31, 2026 (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 99.7% ¤** |  |  |
| **U.S. TREASURY OBLIGATIONS 99.5%** |  |  |
| **U.S. Treasury Inflation Protected Securities** **(a)** |  |  |
| 0.625% due 02/15/2043 | $6 | $4 |
| 0.750% due 02/15/2045 | 3843 | 2764 |
| 0.875% due 02/15/2047 | 3582 | 2544 |
| 1.000% due 02/15/2046 | 3602 | 2674 |
| 1.000% due 02/15/2048 | 3553 | 2555 |
| 1.000% due 02/15/2049 | 878 | 622 |
| 1.375% due 02/15/2044 | 3662 | 3029 |
| 1.500% due 02/15/2053 | 34 | 26 |
| 2.125% due 02/15/2041 | 10 | 10 |
| 2.125% due 02/15/2054 | 36 | 32 |
| 2.375% due 01/15/2027 | 1666 | 1695 |
| 3.375% due 04/15/2032 | 29 | 32 |
| 3.875% due 04/15/2029 | 297 | 320 |
| 0.125% due 07/15/2026 | 1792 | 1818 |
| 0.125% due 10/15/2026 | 1795 | 1810 |
| 0.125% due 04/15/2027 | 4042 | 4019 |
| 0.125% due 01/15/2030 | 695 | 666 |
| 0.125% due 07/15/2030 | 805 | 767 |
| 0.125% due 01/15/2031 | 4514 | 4245 |
| 0.125% due 07/15/2031 | 3840 | 3589 |
| 0.125% due 01/15/2032 | 4848 | 4463 |
| 0.250% due 07/15/2029 | 725 | 705 |
| 0.375% due 01/15/2027 | 1803 | 1806 |
| 0.375% due 07/15/2027 | 634 | 634 |
| 0.500% due 01/15/2028 | 711 | 705 |
| 0.625% due 07/15/2032 | 4467 | 4216 |
| 0.750% due 07/15/2028 | 597 | 596 |
| 0.875% due 01/15/2029 | 520 | 517 |
| 1.125% due 10/15/2030 | 4474 | 4435 |
| 1.125% due 01/15/2033 | 4482 | 4318 |
| 1.250% due 04/15/2028 | 371 | 372 |
| 1.375% due 07/15/2033 | 765 | 748 |
| 1.625% due 10/15/2027 | 3918 | 3980 |
| 1.625% due 10/15/2029 | 4070 | 4136 |
| 1.625% due 04/15/2030 | 876 | 885 |
| 1.750% due 01/15/2034 | 1182 | 1177 |
| 1.875% due 07/15/2034 | 4510 | 4533 |
| 1.875% due 07/15/2035 | 4812 | 4790 |
| 1.875% due 01/15/2036 | 2710 | 2679 |
| 2.125% due 04/15/2029 | 589 | 605 |
| 2.125% due 01/15/2035 | 4640 | 4720 |
| 2.375% due 10/15/2028 | 1873 | 1940 |
| Total U.S. Treasury Obligations (Cost $88,996) |  | 86181 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 0.2%** |  |  |
| **MUTUAL FUNDS 0.2%** |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720%(b) | 166307 | 166 |
| Total Short-Term Instruments (Cost $166) |  | 166 |
| Total Investments in Securities (Cost $89,162) |  | 86347 |
| Total Investments 99.7% (Cost $89,162) |  | $86347 |
| Other Assets and Liabilities, net 0.3% |  | 246 |
| Net Assets 100.0% |  | $86593 |

---

------

<br> Schedule of Investments PIMCO Broad U.S. TIPS Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **(a)** | **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.** |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| U.S. Treasury Obligations | U.S. Treasury Obligations | $0 | $86181 | $0 | $86181 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 166 | 0 | 166 |
| Total Investments | Total Investments | $0 | $86347 | $0 | $86347 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund March 31, 2026 (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 87.8% ¤** |  |  |
| **CORPORATE BONDS & NOTES 29.4%** |  |  |
| **BANKING & FINANCE 18.8%** |  |  |
| **ABN AMRO Bank NV** |  |  |
| 1.542% due 06/16/2027 •  | $1600 | $1590 |
| 4.653% (SOFRINDX + 1.000%) due 12/03/2028 ~ | 3700 | 3715 |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**<br>2.450% due 10/29/2026 | 700 | 692 |
| **Air Lease Corp.**<br>2.200% due 01/15/2027 | 754 | 740 |
| **American Honda Finance Corp.** |  |  |
| 4.390% due 08/13/2027 •  | 4300 | 4297 |
| 4.417% due 01/15/2027 •  | 3685 | 3689 |
| **Athene Global Funding** |  |  |
| 4.417% due 07/16/2026 •  | 3000 | 3002 |
| 4.684% (SOFRINDX + 1.030%) due 08/27/2026 ~ | 300 | 301 |
| 5.516% due 03/25/2027 | 1600 | 1614 |
| **Banco Santander SA**<br>4.788% (SOFRRATE + 1.120%) due 07/15/2028 ~ | 2000 | 2009 |
| **Bank of America Corp.** |  |  |
| 1.734% due 07/22/2027 •  | 4600 | 4562 |
| 4.712% (SOFRRATE + 1.050%) due 02/04/2028 ~ | 585 | 587 |
| **Bank of Montreal**<br>4.396% (SOFRINDX + 0.750%) due 09/22/2028 ~ | 500 | 500 |
| **Banque Federative du Credit Mutuel SA**<br>4.657% (SOFRRATE + 0.990%) due 10/16/2028 ~ | 800 | 803 |
| **Barclays PLC** |  |  |
| 4.586% (SOFRRATE + 0.930%) due 05/24/2030 ~ | 1000 | 998 |
| 5.829% due 05/09/2027 •  | 5000 | 5006 |
| **BNP Paribas SA**<br>2.591% due 01/20/2028 •  | 1000 | 985 |
| **Canadian Imperial Bank of Commerce** |  |  |
| 4.388% (SOFRRATE + 0.720%) due 01/13/2028 ~ | 900 | 900 |
| 4.449% (SOFRRATE + 0.800%) due 09/08/2028 ~ | 5000 | 5002 |
| 4.587% (SOFRRATE + 0.940%) due 06/28/2027 ~ | 200 | 201 |
| **Citigroup, Inc.**<br>1.462% due 06/09/2027 •  | 3000 | 2983 |
| **Cooperatieve Rabobank UA**<br>1.980% due 12/15/2027 •  | 1500 | 1476 |
| **Crown Castle, Inc.**<br>3.700% due 06/15/2026 | 421 | 420 |
| **DBS Group Holdings Ltd.**<br>4.246% (SOFRRATE + 0.600%) due 03/21/2028 ~ | 1400 | 1402 |
| **Deutsche Bank AG**<br>7.146% due 07/13/2027 •  | 5000 | 5034 |
| **DNB Bank ASA**<br>1.535% due 05/25/2027 •  | 2000 | 1991 |
| **Equitable Financial Life Global Funding**<br>1.300% due 07/12/2026 | 610 | 605 |
| **F&G Global Funding**<br>1.750% due 06/30/2026 | 2400 | 2383 |
| **Ford Motor Credit Co. LLC** |  |  |
| 4.125% due 08/17/2027 | 200 | 197 |
| 4.271% due 01/09/2027 | 2000 | 1991 |
| 4.950% due 05/28/2027 | 500 | 500 |
| 5.800% due 03/05/2027 | 4700 | 4727 |
| **GA Global Funding Trust**<br>4.400% due 09/23/2027 | 6800 | 6759 |
| **GATX Corp.**<br>3.250% due 09/15/2026 | 819 | 814 |
| **General Motors Financial Co., Inc.**<br>1.500% due 06/10/2026 | 511 | 508 |
| **Goldman Sachs Group, Inc.** |  |  |
| 1.542% due 09/10/2027 •  | 6700 | 6614 |
| 1.948% due 10/21/2027 •  | 500 | 493 |
| 4.469% (SOFRRATE + 0.820%) due 09/10/2027 ~ | 796 | 796 |
| 4.956% (SOFRRATE + 1.290%) due 04/23/2028 ~ | 600 | 604 |
| **HSBC Holdings PLC** |  |  |
| 5.230% (SOFRRATE + 1.570%) due 08/14/2027 ~ | 500 | 501 |
| 5.887% due 08/14/2027 •  | 2000 | 2010 |
| **ING Groep NV**<br>4.696% due 04/01/2027 •  | 1000 | 1000 |
| **Jackson National Life Global Funding**<br>4.900% due 01/13/2027 | 600 | 602 |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **JPMorgan Chase & Co.**<br>1.470% due 09/22/2027 •  | 6200 | 6116 |
| **Lloyds Banking Group PLC**<br>5.222% (SOFRINDX + 1.560%) due 08/07/2027 ~ | 3826 | 3838 |
| **Mizuho Bank Ltd.**<br>5.024% (BBSW3M + 0.850%) due 09/14/2026 ~ | 300 | 207 |
| **Mizuho Financial Group, Inc.**<br>1.234% due 05/22/2027 •  | $200 | 199 |
| **Morgan Stanley Bank NA**<br>4.352% (SOFRRATE + 0.685%) due 10/15/2027 ~ | 1000 | 999 |
| **Morgan Stanley Private Bank NA**<br>4.439% (SOFRRATE + 0.770%) due 07/06/2028 ~ | 5000 | 4994 |
| **NatWest Markets PLC**<br>4.407% (SOFRRATE + 0.760%) due 09/29/2026 ~ | 800 | 801 |
| **Nissan Motor Acceptance Co. LLC**<br>1.850% due 09/16/2026 | 1500 | 1475 |
| **Pacific Life Global Funding II**<br>4.142% (SOFRRATE + 0.480%) due 02/04/2027 ~ | 2000 | 2000 |
| **Royal Bank of Canada** |  |  |
| 4.377% (SOFRINDX + 0.710%) due 01/21/2027 ~ | 800 | 803 |
| 4.387% (SOFRINDX + 0.720%) due 10/18/2027 ~ | 1900 | 1900 |
| **Santander Holdings USA, Inc.**<br>4.400% due 07/13/2027 | 3900 | 3892 |
| **Santander U.K. Group Holdings PLC**<br>2.469% due 01/11/2028 •  | 2022 | 1989 |
| **Standard Chartered PLC** |  |  |
| 4.830% (SOFRRATE + 1.170%) due 05/14/2028 ~ | 1000 | 1005 |
| 5.691% (SOFRRATE + 2.030%) due 02/08/2028 ~ | 800 | 809 |
| 6.187% due 07/06/2027 •  | 400 | 402 |
| **Sumitomo Mitsui Trust Bank Ltd.**<br>4.631% (SOFRRATE + 0.980%) due 09/10/2027 ~ | 4000 | 4028 |
| **Svenska Handelsbanken AB**<br>4.314% (SOFRRATE + 0.660%) due 05/28/2027 ~ | 2500 | 2504 |
| **Swedbank AB**<br>5.337% due 09/20/2027 | 2500 | 2536 |
| **Synchrony Financial**<br>3.700% due 08/04/2026 | 1500 | 1496 |
| **UBS AG**<br>5.256% (BBSW3M + 1.300%) due 05/12/2026 ~ | 3500 | 2417 |
| **UBS Group AG** |  |  |
| 4.214% due 04/10/2030 •  | $800 | 790 |
| 4.703% due 08/05/2027 •  | 800 | 800 |
| **UniCredit SpA**<br>4.625% due 04/12/2027 | 2100 | 2104 |
| **Wells Fargo & Co.**<br>3.526% due 03/24/2028 •  | 7100 | 7043 |
|  |  | 140750 |
| **INDUSTRIALS 10.1%** |  |  |
| **Algonquin Power & Utilities Corp.**<br>5.365% due 06/15/2026 þ | 5800 | 5805 |
| **Berry Global, Inc.**<br>4.875% due 07/15/2026 | 466 | 466 |
| **BMW U.S. Capital LLC**<br>4.370% (SOFRRATE + 0.710%) due 08/11/2027 ~ | 4100 | 4101 |
| **Boeing Co.**<br>3.100% due 05/01/2026 | 870 | 869 |
| **Bunge Ltd. Finance Corp.**<br>3.250% due 08/15/2026 | 597 | 594 |
| **Constellation Brands, Inc.**<br>3.700% due 12/06/2026 | 4000 | 3984 |
| **Cox Communications, Inc.**<br>3.350% due 09/15/2026 | 2078 | 2069 |
| **Daimler Truck Finance North America LLC**<br>4.650% due 10/12/2030 | 5400 | 5368 |
| **Element Fleet Management Corp.**<br>6.271% due 06/26/2026 | 6900 | 6918 |
| **Enbridge, Inc.**<br>1.600% due 10/04/2026 | 759 | 749 |
| **Entergy Louisiana LLC**<br>2.400% due 10/01/2026 | 730 | 724 |
| **Ford Motor Co.**<br>4.346% due 12/08/2026 | 1300 | 1296 |
| **Fox Corp.**<br>4.709% due 01/25/2029 | 900 | 902 |
| **General Mills, Inc.**<br>4.700% due 01/30/2027 | 3763 | 3769 |
| **Glencore Funding LLC**<br>4.739% (SOFRINDX + 1.060%) due 04/04/2027 ~ | 300 | 301 |
| **Global Payments, Inc.**<br>2.150% due 01/15/2027 | 2000 | 1964 |
| **HCA, Inc.**<br>3.125% due 03/15/2027 | 4000 | 3950 |
| **Hyundai Capital America** |  |  |
| 4.677% (SOFRRATE + 1.030%) due 09/24/2027 ~ | 2900 | 2908 |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.766% (SOFRRATE + 1.120%) due 06/23/2027 ~ | 2800 | 2810 |
| **Hyundai Capital Services, Inc.**<br>5.125% due 02/05/2027 | 1500 | 1508 |
| **Kraft Heinz Foods Co.**<br>3.000% due 06/01/2026 | 4200 | 4190 |
| **Kraton Corp.**<br>5.000% due 07/15/2027 | 3000 | 3025 |
| **Mercedes-Benz Finance North America LLC**<br>4.426% due 04/01/2027 •  | 2200 | 2204 |
| **Molson Coors Beverage Co.**<br>3.000% due 07/15/2026 | 5500 | 5479 |
| **NTT Finance Corp.**<br>1.162% due 04/03/2026 | 2200 | 2200 |
| **Royal Caribbean Cruises Ltd.**<br>5.500% due 04/01/2028 | 100 | 101 |
| **Sabine Pass Liquefaction LLC**<br>5.000% due 03/15/2027 | 165 | 165 |
| **Skyworks Solutions, Inc.**<br>1.800% due 06/01/2026 | 100 | 100 |
| **Starbucks Corp.**<br>2.000% due 03/12/2027 | 463 | 453 |
| **VMware LLC**<br>1.400% due 08/15/2026 | 1700 | 1682 |
| **Volkswagen Group of America Finance LLC** |  |  |
| 4.720% (SOFRRATE + 1.060%) due 08/14/2026 ~ | 2120 | 2126 |
| 4.900% due 08/14/2026 | 2500 | 2504 |
|  |  | 75284 |
| **UTILITIES 0.5%** |  |  |
| **Emera U.S. Finance LP**<br>3.550% due 06/15/2026 | 100 | 100 |
| **ENEL Finance International NV**<br>1.625% due 07/12/2026 | 2100 | 2084 |
| **Eversource Energy**<br>1.400% due 08/15/2026 | 200 | 198 |
| **Israel Electric Corp. Ltd.**<br>7.750% due 12/15/2027 | 300 | 313 |
| **Plains All American Pipeline LP/PAA Finance Corp.**<br>4.500% due 12/15/2026 | 1203 | 1204 |
| **Southern California Edison Co.**<br>4.400% due 09/06/2026 | 100 | 100 |
|  |  | 3999 |
| Total Corporate Bonds & Notes (Cost $219,823) |  | 220033 |
| **U.S. GOVERNMENT AGENCIES 12.3%** |  |  |
| **Federal Home Loan Mortgage Corp. REMICS** |  |  |
| 4.562% due 07/25/2054 - 11/25/2055 •  | 3376 | 3393 |
| 4.592% due 05/25/2055 •  | 1420 | 1429 |
| 4.612% due 03/25/2055 - 09/25/2055 •  | 8655 | 8700 |
| 4.662% due 02/25/2055 - 08/25/2055 •  | 3959 | 3988 |
| 4.762% due 11/25/2054 - 07/25/2055 •  | 4111 | 4132 |
| 4.812% due 12/25/2054 - 11/25/2055 •  | 11828 | 11892 |
| 4.862% due 01/25/2055 •  | 296 | 299 |
| 4.912% due 05/25/2054 •  | 941 | 951 |
| 5.112% due 06/25/2055 •  | 1975 | 1996 |
| **Federal National Mortgage Association REMICS** |  |  |
| 4.562% due 12/25/2053 - 08/25/2055 •  | 14023 | 14085 |
| 4.572% due 03/25/2055 •  | 3562 | 3581 |
| 4.612% due 01/25/2055 •  | 3674 | 3699 |
| 4.662% due 11/25/2055 •  | 1084 | 1087 |
| 4.672% due 03/25/2055 ~•  | 700 | 698 |
| 4.673% due 07/25/2055 ~•  | 1300 | 1296 |
| 4.712% due 09/25/2055 •  | 588 | 591 |
| 4.762% due 06/25/2054 - 10/25/2055 •  | 6755 | 6792 |
| 4.842% due 08/25/2055 •  | 1158 | 1168 |
| 4.862% due 01/25/2055 - 11/25/2055 •  | 1413 | 1426 |
| 4.912% due 08/25/2055 - 09/25/2055 •  | 1041 | 1048 |
| 4.962% due 08/25/2054 •  | 1181 | 1189 |
| **Government National Mortgage Association REMICS** |  |  |
| 3.930% due 04/20/2069 •  | 103 | 103 |
| 4.433% due 11/20/2074 •  | 924 | 931 |
| 4.573% due 06/20/2055 •  | 8350 | 8393 |
| 4.623% due 01/20/2054 - 10/20/2073 •  | 2920 | 2949 |
| 4.673% due 06/20/2055 •  | 1565 | 1577 |
| 4.823% due 06/20/2055 - 07/20/2055 •  | 3859 | 3892 |
| 4.873% due 08/20/2055 •  | 974 | 980 |
| Total U.S. Government Agencies (Cost $91,858) |  | 92265 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 1.0%** |  |  |
| **Government National Mortgage Association REMICS** |  |  |
| 4.443% due 09/20/2075 •  | 3476 | 3508 |
| 4.453% due 10/20/2075 •  | 3470 | 3499 |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **OBX Trust**<br>5.988% due 01/25/2064 þ | 749 | 754 |
| Total Non-Agency Mortgage-Backed Securities (Cost $7,694) |  | 7761 |
| **ASSET-BACKED SECURITIES 11.6%** |  |  |
| **AUTOMOBILE ABS OTHER 0.9%** |  |  |
| **Hyundai Auto Lease Securitization Trust**<br>4.062% due 01/18/2028 | 2436 | 2437 |
| **Nissan Auto Lease Trust**<br>4.122% due 05/15/2028 •  | 4500 | 4501 |
|  |  | 6938 |
| **AUTOMOBILE SEQUENTIAL 0.7%** |  |  |
| **Carvana Auto Receivables Trust**<br>4.640% due 01/10/2030 | 799 | 802 |
| **Citizens Auto Receivables Trust**<br>5.840% due 01/18/2028 | 460 | 461 |
| **GM Financial Automobile Leasing Trust** |  |  |
| 4.540% due 05/20/2027 | 1802 | 1805 |
| 4.550% due 07/20/2027 | 982 | 983 |
| **M&T Bank Auto Receivables Trust**<br>5.220% due 02/17/2032 | 928 | 937 |
|  |  | 4988 |
| **CMBS OTHER 0.8%** |  |  |
| **Acore Issuer LLC**<br>5.125% due 08/20/2043 •  | 3500 | 3498 |
| **ACRES Commercial Realty Issuer LLC**<br>0.000% due 08/18/2044 •  | 2300 | 2299 |
|  |  | 5797 |
| **CREDIT CARD BULLET 0.7%** |  |  |
| **American Express Credit Account Master Trust**<br>5.230% due 09/15/2028 | 2000 | 2012 |
| **Evergreen Credit Card Trust**<br>4.231% due 10/15/2029 •  | 3400 | 3411 |
|  |  | 5423 |
| **CREDIT CARD OTHER 0.3%** |  |  |
| **Trillium Credit Card Trust II**<br>4.225% due 09/26/2030 •  | 2500 | 2511 |
| **OTHER ABS 8.2%** |  |  |
| **522 Funding CLO Ltd.**<br>4.871% due 10/23/2034 •  | 1200 | 1202 |
| **AlbaCore Euro CLO IV DAC**<br>3.006% due 07/15/2035 •  | 1000 | 1157 |
| **AMMC CLO 24 Ltd.**<br>4.868% due 01/20/2035 •  | $800 | 800 |
| **Anchorage Credit Funding 19 Ltd.**<br>5.036% due 10/25/2040 | 1600 | 1586 |
| **ARES LXV CLO Ltd.**<br>4.788% due 07/25/2034 •  | 2700 | 2701 |
| **ARES XXVII CLO Ltd.**<br>4.821% due 10/28/2034 •  | 1200 | 1201 |
| **Atlantic Avenue Ltd.**<br>4.928% due 01/20/2035 •  | 1200 | 1201 |
| **Atlas Senior Loan Fund XVII Ltd.**<br>4.728% due 10/20/2034 •  | 1600 | 1600 |
| **Bosphorus CLO IX DAC**<br>0.000% due 04/15/2038 •(a) | 3100 | 3583 |
| **Canyon Capital CLO Ltd.**<br>4.682% due 10/15/2034 •  | $1400 | 1398 |
| **Carlyle Euro CLO DAC**<br>3.006% due 10/15/2035 •  | 2500 | 2889 |
| **Carlyle Global Market Strategies CLO Ltd.**<br>4.758% due 07/20/2034 •  | $900 | 901 |
| **CarVal CLO I Ltd.**<br>4.901% due 07/16/2031 •  | 448 | 448 |
| **CQS U.S. CLO Ltd.**<br>4.868% due 01/20/2035 •  | 200 | 200 |
| **Cumulus Static CLO DAC**<br>3.184% due 11/15/2033 •  | 463 | 536 |
| **Galaxy XXII CLO Ltd.**<br>4.683% due 04/16/2034 •  | $500 | 500 |
| **ICG U.S. CLO Ltd.**<br>4.661% due 01/16/2033 •  | 424 | 425 |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Jamestown CLO XVI Ltd.**<br>4.788% due 07/25/2034 •  | 600 | 600 |
| **Jamestown CLO XVIII Ltd.**<br>4.938% due 07/25/2035 •  | 400 | 400 |
| **KKR CLO 42 Ltd.**<br>4.818% due 07/20/2034 •  | 2700 | 2703 |
| **LCM 36 Ltd.**<br>4.742% due 01/15/2034 •  | 1600 | 1601 |
| **LCM 39 Ltd.**<br>4.703% due 10/15/2034 •  | 3400 | 3400 |
| **Madison Park Funding XLVI Ltd.**<br>4.672% due 10/15/2034 •  | 1400 | 1399 |
| **Marble Point CLO XXIV Ltd.**<br>4.753% due 04/20/2035 •  | 2500 | 2501 |
| **Navesink CLO 2 Ltd.**<br>4.862% due 01/15/2036 •  | 1100 | 1100 |
| **Navient Refinance Loan Trust**<br>4.800% due 10/15/2055 | 1153 | 1148 |
| **Nelnet Student Loan Trust** |  |  |
| 4.610% due 02/21/2061 | 1343 | 1326 |
| 4.973% due 02/21/2061 •  | 480 | 482 |
| **Northwoods Capital XII-B Ltd.**<br>4.864% due 06/15/2031 •  | 373 | 374 |
| **Ocean Trails CLO XI**<br>4.698% due 07/20/2034 •  | 1400 | 1400 |
| **Palmer Square European Loan Funding DAC**<br>2.866% due 10/15/2034 •  | 1252 | 1446 |
| **Palmer Square Loan Funding Ltd.**<br>4.480% due 08/08/2032 •  | $2200 | 2200 |
| **Rockford Tower CLO Ltd.**<br>4.868% due 07/20/2035 •  | 1100 | 1100 |
| **Silver Rock CLO II Ltd.**<br>4.708% due 01/20/2035 •  | 2000 | 2001 |
| **SMB Private Education Loan Trust**<br>5.322% due 09/15/2053 •  | 1311 | 1334 |
| **SoFi Consumer Loan Program Trust**<br>4.470% due 08/15/2034 | 566 | 566 |
| **THL Credit Wind River CLO Ltd.**<br>4.872% due 04/15/2035 •  | 2700 | 2704 |
| **Toro European CLO 3 DAC**<br>3.006% due 07/15/2034 •  | 300 | 347 |
| **Trinitas CLO VI Ltd.**<br>4.778% due 01/25/2034 •  | $1900 | 1901 |
| **Trinitas CLO VII Ltd.**<br>4.728% due 01/25/2035 •  | 1800 | 1800 |
| **Trinitas CLO XIX Ltd.**<br>4.778% due 10/20/2033 •  | 217 | 217 |
| **Trysail CLO Ltd.**<br>4.907% due 10/20/2033 •  | 500 | 501 |
| **Wellfleet CLO Ltd.**<br>4.822% due 07/15/2034 •  | 2700 | 2703 |
| **Wind River CLO Ltd.**<br>4.732% due 10/15/2034 •  | 1691 | 1692 |
|  |  | 61274 |
| Total Asset-Backed Securities (Cost $86,675) |  | 86931 |
| **SOVEREIGN ISSUES 2.0%** |  |  |
| **Brazil Letras do Tesouro Nacional** |  |  |
| 0.000% due 07/01/2026 (c) | 6200 | 1159 |
| 0.000% due 10/01/2026 (c) | 57100 | 10327 |
| **Eagle Funding Luxco SARL**<br>5.500% due 08/17/2030 | $3300 | 3322 |
| Total Sovereign Issues (Cost $14,844) |  | 14808 |
| **COMMODITIES 3.3%** |  |  |
| Gold Warehouse Receipts | 14 | 32 |
| Platinum Warehouse Receipts | 15216 | 21691 |
| **Silver Warehouse Receipts** | 34900 | 2599 |
| Total Commodities (Cost $16,239) |  | 24322 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **SHORT-TERM INSTRUMENTS 28.2%** |  |  |
| **COMMERCIAL PAPER 12.7%** |  |  |
| **Air Lease Corp.** |  |  |
| 4.350% due 04/14/2026 | $500 | 499 |
| 4.400% due 04/14/2026 | 700 | 699 |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| 4.400% due 04/16/2026 |  | 600 | 599 |
| **AMETEK, Inc.**<br>3.900% due 04/09/2026 |  | 6600 | 6593 |
| **Constellation Energy Generation LLC** |  |  |  |
| 3.870% due 04/01/2026 |  | 3100 | 3100 |
| 3.870% due 04/02/2026 |  | 3100 | 3099 |
| **Crown Castle, Inc.** |  |  |  |
| 4.180% due 04/16/2026 |  | 2100 | 2096 |
| 4.200% due 04/14/2026 |  | 3400 | 3394 |
| 4.200% due 04/16/2026 |  | 2000 | 1996 |
| 4.300% due 04/21/2026 |  | 2400 | 2394 |
| **Edison International**<br>4.380% due 04/27/2026 |  | 7400 | 7377 |
| **ERAC USA Finance LLC** |  |  |  |
| 4.150% due 04/13/2026 |  | 300 | 300 |
| 4.150% due 04/24/2026 |  | 2200 | 2194 |
| 4.170% due 04/20/2026 |  | 2200 | 2195 |
| 4.170% due 04/23/2026 |  | 2300 | 2294 |
| 4.180% due 04/24/2026 |  | 3600 | 3590 |
| **Global Payments, Inc.** |  |  |  |
| 4.230% due 04/07/2026 |  | 4000 | 3997 |
| 4.250% due 04/06/2026 |  | 4500 | 4497 |
| **HCA, Inc.** |  |  |  |
| 4.200% due 05/11/2026 |  | 1000 | 995 |
| 4.250% due 05/01/2026 |  | 400 | 399 |
| 4.250% due 05/13/2026 |  | 2800 | 2785 |
| 4.350% due 04/23/2026 |  | 6000 | 5984 |
| **Jabil, Inc.**<br>4.200% due 04/02/2026 |  | 10600 | 10597 |
| **Keurig Dr. Pepper, Inc.** |  |  |  |
| 4.300% due 04/08/2026 |  | 6900 | 6894 |
| 4.300% due 04/13/2026 |  | 3200 | 3195 |
| **Phillips 66** |  |  |  |
| 4.000% due 04/02/2026 |  | 2900 | 2899 |
| 4.350% due 05/01/2026 |  | 800 | 797 |
| 4.400% due 05/29/2026 |  | 800 | 795 |
| **Rogers Communications, Inc.**<br>4.200% due 04/09/2026 |  | 3800 | 3796 |
| **TELUS Corp.**<br>4.050% due 05/20/2026 |  | 4800 | 4772 |
|  |  |  | 94821 |
|  |  | SHARES |  |
| **MUTUAL FUNDS 0.0%** |  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720%(f) |  | 242514 | 243 |
|  |  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **REPURCHASE AGREEMENTS (g) 15.2%** |  |  | 114100 |
| **SOUTH AFRICA TREASURY BILLS 0.3%** |  |  |  |
| 7.048% due 10/28/2026 - 01/27/2027 (b)(c)(d) | ZAR | 37100 | 2081 |
| Total Short-Term Instruments (Cost $211,366) |  |  | 211245 |
| Total Investments in Securities (Cost $648,499) |  |  | 657365 |
|  |  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 5.9%** |  |  |  |
| **MUTUAL FUNDS 5.9% (e)** |  |  |  |
| **PIMCO Enhanced Short Maturity Active Exchange-Traded Fund** |  | 440115 | 44262 |
| Total Mutual Funds (Cost $44,203) |  |  | 44262 |
| Total Investments in Affiliates (Cost $44,203) |  |  | 44262 |
| Total Investments 93.7% (Cost $692,702) |  |  | $701627 |
| **Financial Derivative Instruments** **(h)(i)** **(0.5)**%(Cost or Premiums, net $442) |  |  | (3761) |
| Other Assets and Liabilities, net 6.8% |  |  | 51151 |
| Net Assets 100.0% |  |  | $749017 |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (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.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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)** | **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.** |
| **(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)** | **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.** |
| **(e)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(f)** | **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** |
| **(g)** | **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 | 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 | 3.570% | 04/01/2026 | 21900 | &nbsp;&nbsp; U.S. Treasury Notes 4.625% due 04/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.625% due 04/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.625% due 04/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.625% due 04/30/2029 | $(22350) | (22350) | 21900 | 21902 |
|  | 3.570 | 04/01/2026 | 4900 | &nbsp;&nbsp; U.S. Treasury Notes 4.625% due 04/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.625% due 04/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.625% due 04/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.625% due 04/30/2029 | (5001) | (5001) | 4900 | 4900 |
|  | 3.640 | 04/01/2026 | 87300 | &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 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 11/30/2029 | (89238) | (89238) | 87300 | 87309 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  |  | $**(116589)** | **(116589)** | **114100** | **114111** |
| **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 | 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 |
| BOS | BOS | BOS | 3.700% | 3.700% | 03/31/2026 | 04/01/2026 | 04/01/2026 | $(3644) | (3644) | (3644) | (3644) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  | **(3644)** |
| <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. |
| <sup>(2)</sup> | The average amount of borrowings outstanding during the period ended March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. 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 March 31, 2026 was $(42) at a weighted average interest rate of 3.747%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| **(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** | **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:** | **PURCHASED OPTIONS:** | **PURCHASED OPTIONS:** |
| **COMMODITY 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 | Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional Amount | Notional Amount | Cost | Cost | Market<br>Value |
| Put - ICE Crude Oil June 2026 Futures | Put - ICE Crude Oil June 2026 Futures | Put - ICE Crude Oil June 2026 Futures | Put - ICE Crude Oil June 2026 Futures | $60.000 | 60.000 | 04/27/2026 | $99 | 99 | 198 | 198 | 10 |
| Put - NYMEX Crude Oil June 2026 Futures | Put - NYMEX Crude Oil June 2026 Futures | Put - NYMEX Crude Oil June 2026 Futures | Put - NYMEX Crude Oil June 2026 Futures | 56.000 | 56.000 | 05/14/2026 | 75 | 75 | 148 | 148 | 24 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **$** | $**346** | **346** | **34** |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** |
| Description | Description | Strike<br>Price | Expiration<br>Date | Notional Amount | Notional Amount | Premiums<br>(Received) |  | Market<br>Value |
| Call - ICE Crude Oil June 2026 Futures | Call - ICE Crude Oil June 2026 Futures | $79.000 | 04/27/2026 | 99 | 99 | (198) | $ | (2600) |
| Call - NYMEX Crude Oil June 2026 Futures | Call - NYMEX Crude Oil June 2026 Futures | 72.000 | 05/14/2026 | 75 | 75 | (147) |  | (1721) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **$** | **$** | **(345)** | **$** | **(4321)** |
| **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** |
|  |  |  |  |  | <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 | Unrealized<br>Appreciation/<br>(Depreciation) |  | Asset | Asset | Liability |
| 3-Month EURIBOR December Futures | 12/2026 | 245 | 68799 | (141) | $ | $0 | 0 | $0 |
| 3-Month SOFR Active Contract December Futures | 03/2028 | 356 | 85970 | (146) |  | 18 | 18 | 0 |
| 3-Month SONIA December Futures | 03/2027 | 211 | 66776 | (339) |  | 77 | 77 | 0 |
| Arabica Coffee July Futures | 07/2026 | 152 | 16576 | 83 |  | 225 | 225 | 0 |
| Arabica Coffee September Futures | 09/2026 | 154 | 16060 | (25) |  | 139 | 139 | 0 |
| Australia Government 3-Year Bond June Futures | 06/2026 | 436 | 31181 | (116) |  | 140 | 140 | 0 |
| Brent Crude August Futures | 06/2026 | 148 | 13345 | 733 |  | 0 | 0 | (681) |
| Brent Crude December Futures | 10/2026 | 718 | 57167 | 2119 |  | 0 | 0 | (2851) |
| Brent Crude June Futures | 04/2026 | 407 | 42316 | (1663) |  | 0 | 0 | (1392) |
| Brent Crude September Futures | 07/2026 | 141 | 12113 | 2583 |  | 0 | 0 | (665) |
| California Carbon Allowance Vintage December Futures | 12/2026 | 760 | 21941 | (1647) |  | 0 | 0 | (198) |
| Carbon Emissions December Futures | 12/2026 | 56 | 4693 | (134) |  | 54 | 54 | 0 |
| Copper July Futures | 07/2026 | 273 | 38667 | (228) |  | 672 | 672 | 0 |
| Copper September Futures | 09/2026 | 8 | 1144 | (28) |  | 22 | 22 | 0 |
| Corn July Futures | 07/2026 | 481 | 11261 | 72 |  | 54 | 54 | (1) |
| Corn September Futures | 09/2026 | 52 | 1223 | 3 |  | 5 | 5 | 0 |
| Cotton No. 2 December Futures | 12/2026 | 25 | 929 | 22 |  | 0 | 0 | (3) |
| Cotton No. 2 July Futures | 07/2026 | 61 | 2200 | 87 |  | 0 | 0 | (14) |
| Gas Oil June Futures | 06/2026 | 107 | 11791 | 4291 |  | 0 | 0 | (3) |
| Gas Oil September Futures | 09/2026 | 170 | 15797 | 4662 |  | 0 | 0 | (267) |
| Gold 100 oz. December Futures | 12/2026 | 8 | 3824 | (215) |  | 89 | 89 | 0 |
| Gold 100 oz. June Futures | 06/2026 | 133 | 62225 | (700) |  | 1611 | 1611 | 0 |
| Hard Red Winter Wheat July Futures | 07/2026 | 4 | 130 | 13 |  | 2 | 2 | 0 |
| Hard Red Winter Wheat May Futures | 05/2026 | 356 | 11312 | 1556 |  | 165 | 165 | 0 |
| Hard Red Winter Wheat September Futures | 09/2026 | 445 | 14724 | 879 |  | 154 | 154 | (6) |
| Iron Ore July Futures | 07/2026 | 896 | 9299 | (1) |  | 0 | 0 | (72) |
| Iron Ore May Futures | 05/2026 | 218 | 2299 | 78 |  | 0 | 0 | (16) |
| Lean Hogs October Futures | 10/2026 | 618 | 22582 | (81) |  | 0 | 0 | (212) |
| Live Cattle June Futures | 06/2026 | 316 | 30750 | 990 |  | 389 | 389 | 0 |
| Live Cattle October Futures | 10/2026 | 186 | 17549 | 419 |  | 126 | 126 | 0 |
| LME Aluminum July Futures | 07/2026 | 1006 | 86779 | 4048 |  | 1754 | 1754 | (47) |
| LME Aluminum May Futures | 05/2026 | 877 | 76826 | 9433 |  | 0 | 0 | 0 |
| LME Aluminum September Futures | 09/2026 | 303 | 25533 | 1995 |  | 1561 | 1561 | 0 |
| LME Lead Futures July Futures | 07/2026 | 69 | 3296 | (22) |  | 5 | 5 | (26) |
| LME Lead Futures May Futures | 05/2026 | 27 | 1272 | (47) |  | 0 | 0 | 0 |
| LME Nickel July Futures | 07/2026 | 289 | 29727 | 1228 |  | 14 | 14 | (128) |
| LME Nickel May Futures | 05/2026 | 356 | 36370 | 382 |  | 0 | 0 | 0 |
| LME Nickel September Futures | 09/2026 | 170 | 17609 | (389) |  | 38 | 38 | (355) |
| LME Zinc July Futures | 07/2026 | 459 | 37122 | 781 |  | 253 | 253 | (142) |
| LME Zinc May Futures | 05/2026 | 485 | 39296 | 497 |  | 0 | 0 | 0 |
| LME Zinc September Futures | 09/2026 | 129 | 10418 | (105) |  | 8 | 8 | (51) |
| Natural Gas June Futures | 05/2026 | 2 | 84 | (3) |  | 10 | 10 | (7) |
| Natural Gas June Futures | 05/2026 | 25 | 1255 | (33) |  | 28 | 28 | (106) |
| Natural Gas May Futures | 04/2026 | 477 | 13757 | (917) |  | 0 | 0 | (14) |
| Natural Gas May Futures | 04/2026 | 1 | 53 | 0 |  | 6 | 6 | (4) |
| Natural Gas September Futures | 08/2026 | 160 | 5240 | (317) |  | 0 | 0 | (127) |
| New York Harbor June Futures | 05/2026 | 73 | 11470 | 2107 |  | 0 | 0 | (209) |
| New York Harbor September Futures | 08/2026 | 227 | 30187 | 8607 |  | 0 | 0 | (1061) |
| RBOB Gasoline August Futures | 07/2026 | 21 | 2446 | 411 |  | 0 | 0 | (74) |
| RBOB Gasoline June Futures | 05/2026 | 102 | 13090 | 2 |  | 0 | 0 | (300) |
| RBOB Gasoline September Futures | 08/2026 | 351 | 39034 | 7859 |  | 0 | 0 | (1265) |
| Silver July Futures | 07/2026 | 76 | 28682 | (986) |  | 1491 | 1491 | 0 |
| Silver September Futures | 09/2026 | 3 | 1140 | (34) |  | 66 | 66 | 0 |
| Soybean July Futures | 07/2026 | 595 | 35284 | (116) |  | 325 | 325 | 0 |
| Soybean Meal December Futures | 12/2026 | 38 | 1184 | 5 |  | 9 | 9 | 0 |
| Soybean Meal July Futures | 07/2026 | 645 | 20272 | (150) |  | 77 | 77 | 0 |
| Soybean Meal May Futures | 05/2026 | 62 | 1962 | 55 |  | 9 | 9 | 0 |
| Soybean November Futures | 11/2026 | 653 | 37792 | 672 |  | 441 | 441 | 0 |
| Soybean Oil July December Futures | 12/2026 | 110 | 4310 | 390 |  | 24 | 24 | 0 |
| Soybean Oil July Futures | 07/2026 | 351 | 14506 | 516 |  | 86 | 86 | 0 |
| Sugar No. 11 July Futures | 06/2026 | 222 | 3899 | 174 |  | 1 | 1 | (19) |
| Sugar No. 11 October Futures | 09/2026 | 125 | 2247 | (13) |  | 0 | 0 | (13) |
| U.S. Treasury 2-Year Note June Futures | 06/2026 | 1023 | 212217 | 256 |  | 80 | 80 | 0 |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | 06/2026 | 06/2026 | 172 |  | 18607 | (219) | (219) | 24 | 24 | 24 | 0 |
| Wheat September Futures | Wheat September Futures | Wheat September Futures | Wheat September Futures | Wheat September Futures | 09/2026 | 09/2026 | 408 |  | 13020 | 830 | 830 | 132 | 132 | 132 | (1) |
| WTI Crude June Futures | WTI Crude June Futures | WTI Crude June Futures | WTI Crude June Futures | WTI Crude June Futures | 05/2026 | 05/2026 | 386 |  | 35960 | (1319) | (1319) | 0 | 0 | 0 | (1151) |
| WTI Crude September Futures | WTI Crude September Futures | WTI Crude September Futures | WTI Crude September Futures | WTI Crude September Futures | 08/2026 | 08/2026 | 254 |  | 19807 | 3168 | 3168 | 0 | 0 | 0 | (1211) |
|  |  |  |  |  |  |  |  |  |  | 51872 | $ | 10384 | 10384 | $ | (12692) |
| **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 | # of<br>Contracts |  | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| Brent Crude July Futures | Brent Crude July Futures | Brent Crude July Futures | Brent Crude July Futures | Brent Crude July Futures | 05/2026 | 05/2026 | 503 | $ | (48374) | $2420 | 2420 | 2073 | 2073 | 2073 | 0 |
| Corn May Futures | Corn May Futures | Corn May Futures | Corn May Futures | Corn May Futures | 05/2026 | 05/2026 | 262 |  | (5997) | 7 | 7 | 0 | 0 | 0 | (33) |
| LME Aluminum July Futures | LME Aluminum July Futures | LME Aluminum July Futures | LME Aluminum July Futures | LME Aluminum July Futures | 07/2026 | 07/2026 | 283 |  | (24412) | (2564) | (2564) | 0 | 0 | 0 | 0 |
| LME Aluminum May Futures | LME Aluminum May Futures | LME Aluminum May Futures | LME Aluminum May Futures | LME Aluminum May Futures | 05/2026 | 05/2026 | 877 |  | (76826) | (9283) | (9283) | 0 | 0 | 0 | 0 |
| LME Aluminum September Futures | LME Aluminum September Futures | LME Aluminum September Futures | LME Aluminum September Futures | LME Aluminum September Futures | 09/2026 | 09/2026 | 66 |  | (5562) | (102) | (102) | 0 | 0 | 0 | 0 |
| LME Lead Futures May Futures | LME Lead Futures May Futures | LME Lead Futures May Futures | LME Lead Futures May Futures | LME Lead Futures May Futures | 05/2026 | 05/2026 | 27 |  | (1272) | 7 | 7 | 0 | 0 | 0 | 0 |
| LME Nickel July Futures | LME Nickel July Futures | LME Nickel July Futures | LME Nickel July Futures | LME Nickel July Futures | 07/2026 | 07/2026 | 171 |  | (17590) | 472 | 472 | 0 | 0 | 0 | 0 |
| LME Nickel May Futures | LME Nickel May Futures | LME Nickel May Futures | LME Nickel May Futures | LME Nickel May Futures | 05/2026 | 05/2026 | 356 |  | (36370) | (1236) | (1236) | 0 | 0 | 0 | 0 |
| LME Nickel September Futures | LME Nickel September Futures | LME Nickel September Futures | LME Nickel September Futures | LME Nickel September Futures | 09/2026 | 09/2026 | 27 |  | (2797) | 131 | 131 | 0 | 0 | 0 | 0 |
| LME Zinc July Futures | LME Zinc July Futures | LME Zinc July Futures | LME Zinc July Futures | LME Zinc July Futures | 07/2026 | 07/2026 | 179 |  | (14477) | 26 | 26 | 0 | 0 | 0 | 0 |
| LME Zinc May Futures | LME Zinc May Futures | LME Zinc May Futures | LME Zinc May Futures | LME Zinc May Futures | 05/2026 | 05/2026 | 485 |  | (39296) | (800) | (800) | 0 | 0 | 0 | 0 |
| LME Zinc September Futures | LME Zinc September Futures | LME Zinc September Futures | LME Zinc September Futures | LME Zinc September Futures | 09/2026 | 09/2026 | 22 |  | (1777) | 59 | 59 | 0 | 0 | 0 | 0 |
| New York Harbor August Futures | New York Harbor August Futures | New York Harbor August Futures | New York Harbor August Futures | New York Harbor August Futures | 07/2026 | 07/2026 | 169 |  | (23255) | (3514) | (3514) | 781 | 781 | 781 | 0 |
| New York Harbor December Futures | New York Harbor December Futures | New York Harbor December Futures | New York Harbor December Futures | New York Harbor December Futures | 11/2026 | 11/2026 | 54 |  | (6569) | (871) | (871) | 248 | 248 | 248 | 0 |
| Platinum April Futures | Platinum April Futures | Platinum April Futures | Platinum April Futures | Platinum April Futures | 04/2026 | 04/2026 | 149 |  | (14528) | (1004) | (1004) | 0 | 0 | 0 | (480) |
| Platinum July Futures | Platinum July Futures | Platinum July Futures | Platinum July Futures | Platinum July Futures | 07/2026 | 07/2026 | 72 |  | (7093) | (232) | (232) | 0 | 0 | 0 | (233) |
| Silver May Futures | Silver May Futures | Silver May Futures | Silver May Futures | Silver May Futures | 05/2026 | 05/2026 | 64 |  | (23974) | (180) | (180) | 0 | 0 | 0 | (1151) |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | 06/2026 | 06/2026 | 172 |  | (19525) | 267 | 267 | 0 | 0 | 0 | (51) |
| U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | 06/2026 | 06/2026 | 83 |  | (9675) | 233 | 233 | 0 | 0 | 0 | (18) |
| Wheat July Futures | Wheat July Futures | Wheat July Futures | Wheat July Futures | Wheat July Futures | 07/2026 | 07/2026 | 4 |  | (125) | (7) | (7) | 0 | 0 | 0 | (2) |
| Wheat May Futures | Wheat May Futures | Wheat May Futures | Wheat May Futures | Wheat May Futures | 05/2026 | 05/2026 | 135 |  | (4160) | (260) | (260) | 0 | 0 | 0 | (62) |
| WTI Crude December Futures | WTI Crude December Futures | WTI Crude December Futures | WTI Crude December Futures | WTI Crude December Futures | 11/2026 | 11/2026 | 3 |  | (217) | 5 | 5 | 5 | 5 | 5 | 0 |
|  |  |  |  |  |  |  |  |  |  | (16426) | $ | 3107 | 3107 | $ | (2030) |
| **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** | **35446** | **$** | **13491** | **13491** | **$** | **(14722)** |
| **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><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 | Reference Entity | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> |  | Notional<br>Amount<sup>(3)</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 | Asset | Liability |
| Morgan Stanley | Morgan Stanley | 06/20/2026 | 06/20/2026 | 0.303 | % | $ | $2800 | 2800 | 11 | (6) | 5 | 5 | 0 | 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** | **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 | Pay/<br>Receive<br>Floating Rate | Fixed Rate | 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 | Asset | Asset | Liability |
| Pay | Pay | 3.500% | Annual | 03/18/2031 | 03/18/2031 | GBP | 8840 | 8840 | $(38) | (339) | (377) | (377) | $28 | 28 | $0 |
| Pay<sup>(5)</sup> | Pay<sup>(5)</sup> | 3.500 | Annual | 09/16/2031 | 09/16/2031 |  | 6300 | 6300 | (183) | (93) | (276) | (276) | 19 | 19 | 0 |
| Receive | Receive | 3.750 | Annual | 12/18/2029 | 12/18/2029 | $ | 23400 | 23400 | (100) | (40) | (140) | (140) | 0 | 0 | (22) |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 3.325 | Annual | 08/31/2030 | 08/31/2030 |  | 44535 | 44535 | 144 | 298 | 442 | 442 | 0 | 0 | (44) |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 3.337 | Annual | 08/31/2030 | 08/31/2030 |  | 1400 | 1400 | 0 | 13 | 13 | 13 | 0 | 0 | (1) |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 3.369 | Annual | 08/31/2030 | 08/31/2030 |  | 1400 | 1400 | 0 | 12 | 12 | 12 | 0 | 0 | (1) |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 3.376 | Annual | 08/31/2030 | 08/31/2030 |  | 4500 | 4500 | 0 | 36 | 36 | 36 | 0 | 0 | (4) |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 3.407 | Annual | 08/31/2030 | 08/31/2030 |  | 500 | 500 | 0 | 3 | 3 | 3 | 0 | 0 | (1) |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 3.422 | Annual | 08/31/2030 | 08/31/2030 |  | 700 | 700 | 0 | 4 | 4 | 4 | 0 | 0 | (1) |
|  |  |  |  |  |  |  |  |  | (177) | (106) | (283) | (283) | 47 | 47 | (74) |
| **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** | **(166)** | **(112)** | **(278)** | **(278)** | **47** | **47** | **(74)** |
| **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $57,977 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| <sup>(1)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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. |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <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. |
| <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. |
| <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. |
| <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. |
| <sup>(6)</sup> | Unsettled variation margin asset of $1,166 and liability of $(623) for closed futures is outstanding at period end. | Unsettled variation margin asset of $1,166 and liability of $(623) for closed futures is outstanding at period end. | Unsettled variation margin asset of $1,166 and liability of $(623) for closed futures is outstanding at period end. | Unsettled variation margin asset of $1,166 and liability of $(623) for closed futures is outstanding at period end. | Unsettled variation margin asset of $1,166 and liability of $(623) for closed futures is outstanding at period end. | Unsettled variation margin asset of $1,166 and liability of $(623) for closed futures is outstanding at period end. | Unsettled variation margin asset of $1,166 and liability of $(623) for closed futures is outstanding at period end. |
| **(i)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** |
|  |  |  |  |  | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Received | Currency to<br>be Received | Asset | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 04/2026 | 200 | $38 | 38 | $0 | $0 |
|  |  | 04/2026 | 498 | 364 | 364 | 6 | 0 |
|  |  | 04/2026 | $38 | 200 | 200 | 0 | 0 |
|  |  | 04/2026 | 3563 | 3059 | 3059 | 0 | (27) |
|  |  | 06/2026 | 31 | 163 | 163 | 0 | 0 |
|  |  | 06/2026 | 11 | 35 | 35 | 0 | 0 |
|  |  | 10/2026 | 200 | $37 | 37 | 0 | 0 |
|  |  | 10/2026 | 3969 | 243 | 243 | 12 | 0 |
|  |  | 01/2027 | 31645 | 1925 | 1925 | 101 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 04/2026 | 5743 | 1071 | 1071 | 0 | (38) |
|  |  | 04/2026 | 923 | 1078 | 1078 | 11 | 0 |
|  |  | 04/2026 | 363 | 482 | 482 | 3 | 0 |
|  |  | 04/2026 | $1097 | 5743 | 5743 | 12 | 0 |
|  |  | 04/2026 | 10 | 31 | 31 | 0 | 0 |
|  |  | 07/2026 | 700 | $130 | 130 | 0 | (2) |
|  |  | 07/2026 | $825 | 4433 | 4433 | 13 | 0 |
|  |  | 10/2026 | 1500 | $273 | 273 | 0 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 04/2026 | 99 | 133 | 133 | 2 | 0 |
|  |  | 04/2026 | $223 | 193 | 193 | 1 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 04/2026 | 305 | $214 | 214 | 4 | 0 |
|  |  | 04/2026 | 155 | 178 | 178 | 0 | (1) |
|  |  | 04/2026 | 104 | 139 | 139 | 1 | 0 |
|  |  | 04/2026 | $3657 | 5191 | 5191 | 0 | (76) |
|  |  | 06/2026 | 7 | 22 | 22 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | 04/2026 | 3564 | $2526 | 2526 | 67 | 0 |
|  |  | 04/2026 | 920 | 1243 | 1243 | 26 | 0 |
|  |  | 04/2026 | 4398 | 2569 | 2569 | 42 | 0 |
|  |  | 04/2026 | $3749 | 2810 | 2810 | 0 | (30) |
|  |  | 04/2026 | 2687 | 4495 | 4495 | 0 | (104) |
|  |  | 05/2026 | 2093 | $2780 | 2780 | 10 | 0 |
|  |  | 05/2026 | $2572 | 4398 | 4398 | 0 | (42) |
|  |  | 06/2026 | 8 | 25 | 25 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | &nbsp;&nbsp;&nbsp;&nbsp; GLM | 04/2026 | 8619 | $1539 | 1539 | 0 | (125) |
|  |  | 04/2026 | $1633 | 8619 | 8619 | 31 | 0 |
|  |  | 04/2026 | 11 | 33 | 33 | 0 | 0 |
|  |  | 06/2026 | 5497 | $1021 | 1021 | 0 | (27) |
|  |  | 06/2026 | $92 | 488 | 488 | 1 | 0 |
|  |  | 07/2026 | 83 | 446 | 446 | 1 | 0 |
|  |  | 10/2026 | 54000 | $9968 | 9968 | 0 | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp; IND | &nbsp;&nbsp;&nbsp;&nbsp; IND | 04/2026 | 732 | 864 | 864 | 18 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | 04/2026 | 6700 | 1284 | 1284 | 0 | (10) |
|  |  | 04/2026 | $1263 | 6700 | 6700 | 30 | 0 |
|  |  | 04/2026 | 968 | 832 | 832 | 0 | (6) |
|  |  | 04/2026 | 593 | 442 | 442 | 0 | (8) |
|  |  | 07/2026 | 5500 | $1014 | 1014 | 0 | (27) |
|  |  | 10/2026 | 1400 | 255 | 255 | 0 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 04/2026 | 435 | 301 | 301 | 1 | 0 |
|  |  | 04/2026 | 200 | 230 | 230 | 0 | (1) |
|  |  | 04/2026 | 680 | 910 | 910 | 10 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | 04/2026 | 293 | 336 | 336 | 0 | (3) |
|  |  | 04/2026 | $121 | 104 | 104 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC | &nbsp;&nbsp;&nbsp;&nbsp; RBC | 04/2026 | 193 | 145 | 145 | 0 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 04/2026 | 312 | $417 | 417 | 4 | 0 |
|  |  | 04/2026 | $360 | 499 | 499 | 0 | (2) |
|  |  | 05/2026 | 498 | $360 | 360 | 2 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | 04/2026 | 7450 | 8819 | 8819 | 208 | 0 |
|  |  | 04/2026 | 472 | 283 | 283 | 12 | 0 |
|  |  | 04/2026 | $6441 | 5565 | 5565 | 9 | (19) |
|  |  | 04/2026 | 224 | 375 | 375 | 0 | (8) |
|  |  | 05/2026 | 4868 | $5625 | 5625 | 0 | (9) |
|  |  | 06/2026 | $4 | 13 | 13 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | 04/2026 | 5747 | $4090 | 4090 | 124 | 0 |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | 04/2026 | GBP | 919 | 919 | 919 |  |  | 1229 | 1229 | 1229 | 1229 |  | 13 | 13 |  | 0 |
|  |  |  |  | 05/2026 | AUD | 4860 | 4860 | 4860 |  |  | 3342 | 3342 | 3342 | 3342 |  | 0 | 0 |  | (10) |
|  |  |  |  | 05/2026 | $ | 1229 | 1229 | 1229 | GBP | GBP | 919 | 919 | 919 | 919 |  | 0 | 0 |  | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | 06/2026 |  | 8 | 8 | 8 | ILS | ILS | 24 | 24 | 24 | 24 |  | 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** | $**775** | **775** | **775** | $**(625)** | **(625)** |
| **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** |
| Counterparty | Counterparty | 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 | 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 | Market<br>Value | Market<br>Value |
| BPS | BPS | BPS | Put - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.250% | 4.250% | 4.250% | 4.250% | 12/09/2026 | 12/09/2026 | 1700 | 1700 | 1700 | 1 | 2 | 2 |
| FAR | FAR | FAR | Call - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.000 | 3.000 | 3.000 | 3.000 | 08/03/2026 | 08/03/2026 | 42300 | 42300 | 42300 | 38 | 29 | 29 |
|  |  |  | Put - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 4.250 | 4.250 | 4.250 | 4.250 | 12/09/2026 | 12/09/2026 | 140000 | 140000 | 140000 | 64 | 148 | 148 |
| GLM | GLM | GLM | Call - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.000 | 3.000 | 3.000 | 3.000 | 07/28/2026 | 07/28/2026 | 27800 | 27800 | 27800 | 21 | 18 | 18 |
|  |  |  | Call - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.000 | 3.000 | 3.000 | 3.000 | 08/11/2026 | 08/11/2026 | 46400 | 46400 | 46400 | 52 | 34 | 34 |
| MYC | MYC | MYC | Call - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.000 | 3.000 | 3.000 | 3.000 | 08/03/2026 | 08/03/2026 | 50200 | 50200 | 50200 | 45 | 34 | 34 |
|  |  |  | Call - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.000 | 3.000 | 3.000 | 3.000 | 08/11/2026 | 08/11/2026 | 50900 | 50900 | 50900 | 57 | 37 | 37 |
|  |  |  | Put - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.650 | 3.650 | 3.650 | 3.650 | 09/09/2026 | 09/09/2026 | 83100 | 83100 | 83100 | 84 | 226 | 226 |
| NGF | NGF | NGF | Call - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.000 | 3.000 | 3.000 | 3.000 | 07/28/2026 | 07/28/2026 | 103200 | 103200 | 103200 | 72 | 65 | 65 |
|  |  |  | Call - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Pay | Pay | 3.000 | 3.000 | 3.000 | 3.000 | 08/03/2026 | 08/03/2026 | 6000 | 6000 | 6000 | 5 | 4 | 4 |
|  |  |  | Put - OTC 1-Year Interest Rate Swap | 3-Month USD-SOFR | 3-Month USD-SOFR | Receive | Receive | 3.650 | 3.650 | 3.650 | 3.650 | 09/09/2026 | 09/09/2026 | 158500 | 158500 | 158500 | 168 | 430 | 430 |
| **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** | **607** | **1027** | **1027** |
| **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:** |
| **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** | **COMMODITY FORWARD SWAPS** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Pay/Receive | Pay/Receive | Underlying Reference Commodity | Underlying Reference Commodity | Fixed Price<br>Per Unit | Payment<br>Frequency | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | # of<br>Units |  | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset |
| &nbsp;&nbsp; BPS | &nbsp;&nbsp; BPS | Receive | Receive | CBOT Soybean Meal December Futures | CBOT Soybean Meal December Futures | 310.350 | Maturity | Maturity | Maturity | 11/20/2026 | 11/20/2026 | 11/20/2026 | 56900 | $ | 0 | 0 | $64 | 64 | 64 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **0** | **0** | **64** | **64** | **$** |
| <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. |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | 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 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Level 3 | Fair Value<br>at 03/31/2026 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 |
| Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | Banking & Finance | $0 | 0 | 0 | 0 | 0 | 0 | $140750 | 140750 | $0 | 0 | 0 | 140750 | 140750 |
| Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 0 | 0 | 0 | 0 | 75284 | 75284 | 0 | 0 | 0 | 75284 | 75284 |
| Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | Utilities | 0 | 0 | 0 | 0 | 0 | 0 | 3999 | 3999 | 0 | 0 | 0 | 3999 | 3999 |
| 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 | 0 | 0 | 92265 | 92265 | 0 | 0 | 0 | 92265 | 92265 |
| 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 | 0 | 0 | 7761 | 7761 | 0 | 0 | 0 | 7761 | 7761 |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 6938 | 6938 | 0 | 0 | 0 | 6938 | 6938 |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | 0 | 0 | 0 | 0 | 0 | 0 | 4988 | 4988 | 0 | 0 | 0 | 4988 | 4988 |
| CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | 0 | 0 | 0 | 0 | 0 | 0 | 5797 | 5797 | 0 | 0 | 0 | 5797 | 5797 |
| Credit Card Bullet | Credit Card Bullet | Credit Card Bullet | Credit Card Bullet | Credit Card Bullet | Credit Card Bullet | Credit Card Bullet | 0 | 0 | 0 | 0 | 0 | 0 | 5423 | 5423 | 0 | 0 | 0 | 5423 | 5423 |
| Credit Card Other | Credit Card Other | Credit Card Other | Credit Card Other | Credit Card Other | Credit Card Other | Credit Card Other | 0 | 0 | 0 | 0 | 0 | 0 | 2511 | 2511 | 0 | 0 | 0 | 2511 | 2511 |
| Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | 0 | 0 | 0 | 0 | 0 | 0 | 61274 | 61274 | 0 | 0 | 0 | 61274 | 61274 |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 | 0 | 0 | 0 | 0 | 14808 | 14808 | 0 | 0 | 0 | 14808 | 14808 |
| Commodities | Commodities | Commodities | Commodities | Commodities | Commodities | Commodities | 0 | 0 | 0 | 0 | 0 | 0 | 24322 | 24322 | 0 | 0 | 0 | 24322 | 24322 |
| 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 |
| Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | 0 | 0 | 0 | 0 | 0 | 0 | 94821 | 94821 | 0 | 0 | 0 | 94821 | 94821 |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 0 | 0 | 0 | 0 | 243 | 243 | 0 | 0 | 0 | 243 | 243 |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 | 0 | 0 | 0 | 0 | 114100 | 114100 | 0 | 0 | 0 | 114100 | 114100 |
| South Africa Treasury Bills | 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 | 0 | 0 | 0 | 0 | 2081 | 2081 | 0 | 0 | 0 | 2081 | 2081 |
|  |  |  |  |  |  |  | $0 | 0 | 0 | 0 | 0 | 0 | $657365 | 657365 | $0 | 0 | 0 | 657365 | 657365 |
| **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** |

---

------

<br> Schedule of Investments PIMCO Commodity Strategy Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Mutual Funds | 44262 | 0 | 0 | 44262 |
| Total Investments | $44262 | $657365 | $0 | $701627 |
| **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 | 13403 | 169 | 0 | 13572 |
| Over the counter | 0 | 1866 | 0 | 1866 |
|  | $13403 | $2035 | $0 | $15438 |
| **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 | (18974) | (143) | 0 | (19117) |
| Over the counter | 0 | (625) | 0 | (625) |
|  | $(18974) | $(768) | $0 | $(19742) |
| Total Financial Derivative Instruments | $(5571) | $1267 | $0 | $(4304) |
| Totals | $38691 | $658632 | $0 | $697323 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund March 31, 2026 (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 111.4% ¤** |  |  |
| **CORPORATE BONDS & NOTES 47.1%** |  |  |
| **BANKING & FINANCE 25.7%** |  |  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**<br>6.450% due 04/15/2027 | $400 | $408 |
| **Air Lease Corp.** |  |  |
| 1.875% due 08/15/2026 | 5613 | 5556 |
| 2.200% due 01/15/2027 | 947 | 930 |
| 3.750% due 06/01/2026 | 144 | 144 |
| **Aircastle Ltd.** |  |  |
| 2.850% due 01/26/2028 | 600 | 582 |
| 4.250% due 06/15/2026 | 2387 | 2384 |
| **American Honda Finance Corp.** |  |  |
| 4.308% due 11/19/2027 •  | 7900 | 7870 |
| 4.379% due 03/08/2027 •  | 7700 | 7702 |
| **American Tower Corp.**<br>5.000% due 01/31/2030 | 1600 | 1620 |
| **Aon North America, Inc.**<br>5.125% due 03/01/2027 | 900 | 905 |
| **Athene Global Funding** |  |  |
| 1.608% due 06/29/2026 | 1525 | 1514 |
| 4.647% due 09/18/2028 •  | 9400 | 9355 |
| 5.620% due 05/08/2026 | 6901 | 6907 |
| **Aviation Capital Group LLC** |  |  |
| 1.950% due 09/20/2026 | 7150 | 7066 |
| 3.500% due 11/01/2027 | 1425 | 1400 |
| 4.750% due 04/14/2027 | 4076 | 4081 |
| **Avolon Holdings Funding Ltd.** |  |  |
| 3.250% due 02/15/2027 | 1190 | 1177 |
| 4.250% due 04/15/2026 | 2750 | 2750 |
| 4.375% due 05/01/2026 | 1374 | 1374 |
| **Banco Santander Chile**<br>4.550% due 11/20/2030 | 800 | 790 |
| **Banco Santander SA** |  |  |
| 1.722% due 09/14/2027 •  | 1700 | 1678 |
| 5.028% (SOFRRATE + 1.380%) due 03/14/2028 ~ | 800 | 805 |
| **Bank Hapoalim BM**<br>4.722% due 07/14/2029 | 3400 | 3361 |
| **Bank Leumi Le-Israel BM**<br>5.125% due 07/27/2027 | 1500 | 1499 |
| **Banque Federative du Credit Mutuel SA**<br>4.796% (SOFRRATE + 1.130%) due 01/23/2027 ~ | 550 | 553 |
| **Barclays PLC** |  |  |
| 2.279% due 11/24/2027 •  | 511 | 503 |
| 4.586% (SOFRRATE + 0.930%) due 05/24/2030 ~ | 2500 | 2494 |
| 5.829% due 05/09/2027 •  | 9700 | 9711 |
| 6.496% due 09/13/2027 •  | 1000 | 1008 |
| **BNP Paribas SA**<br>1.675% due 06/30/2027 •  | 2000 | 1985 |
| **BPCE SA**<br>6.612% due 10/19/2027 •  | 2400 | 2427 |
| **Brighthouse Financial Global Funding** |  |  |
| 1.550% due 05/24/2026 | 3445 | 3430 |
| 5.550% due 04/09/2027 | 6732 | 6777 |
| **Canadian Imperial Bank of Commerce** |  |  |
| 4.388% (SOFRRATE + 0.720%) due 01/13/2028 ~ | 11600 | 11606 |
| 4.587% (SOFRRATE + 0.940%) due 06/28/2027 ~ | 2360 | 2373 |
| **Cantor Fitzgerald LP**<br>4.500% due 04/14/2027 | 160 | 160 |
| **Citadel Finance LLC**<br>4.750% due 02/14/2029 | 1000 | 980 |
| **Citadel LP**<br>4.875% due 01/15/2027 | 10749 | 10742 |
| **CNO Global Funding**<br>5.875% due 06/04/2027 | 1800 | 1825 |
| **Cooperatieve Rabobank UA** |  |  |
| 4.273% (SOFRINDX + 0.620%) due 08/28/2026 ~ | 600 | 601 |
| 4.578% (SOFRINDX + 0.900%) due 10/05/2026 ~ | 2100 | 2105 |
| **Credit Agricole SA**<br>4.519% (SOFRRATE + 0.870%) due 03/11/2027 ~ | 8100 | 8120 |
| **Crown Castle, Inc.**<br>3.700% due 06/15/2026 | 1600 | 1598 |
| **Deutsche Bank AG** |  |  |
| 2.552% due 01/07/2028 •  | 12000 | 11815 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.879% (SOFRRATE + 1.219%) due 11/16/2027 ~ | 1212 | 1215 |
| **EPR Properties**<br>4.750% due 12/15/2026 | 11599 | 11595 |
| **Equitable America Global Funding**<br>4.358% (SOFRRATE + 0.710%) due 09/15/2027 ~ | 3292 | 3298 |
| **F&G Global Funding** |  |  |
| 1.750% due 06/30/2026 | 1400 | 1390 |
| 2.300% due 04/11/2027 | 586 | 572 |
| 4.500% due 01/09/2029 | 7700 | 7546 |
| **Ford Motor Credit Co. LLC** |  |  |
| 4.271% due 01/09/2027 | 3100 | 3086 |
| 4.542% due 08/01/2026 | 400 | 399 |
| 4.950% due 05/28/2027 | 700 | 700 |
| 5.125% due 11/05/2026 | 1409 | 1412 |
| 5.800% due 03/05/2027 | 10261 | 10320 |
| **GA Global Funding Trust**<br>4.400% due 09/23/2027 | 13400 | 13319 |
| **GATX Corp.**<br>3.250% due 09/15/2026 | 1153 | 1147 |
| **Goldman Sachs Group, Inc.** |  |  |
| 1.948% due 10/21/2027 •  | 1900 | 1874 |
| 5.498% (SOFRRATE + 1.850%) due 03/15/2028 ~ | 8000 | 8096 |
| **Hardwood Funding LLC**<br>4.360% due 06/08/2029 «(a)(e) | 2000 | 1990 |
| **HAT Holdings I LLC/HAT Holdings II LLC**<br>3.375% due 06/15/2026 | 11545 | 11505 |
| **HSBC Holdings PLC**<br>2.013% due 09/22/2028 •  | 4700 | 4532 |
| **Intesa Sanpaolo SpA**<br>3.875% due 01/12/2028 | 1359 | 1345 |
| **JPMorgan Chase & Co.**<br>1.578% due 04/22/2027 •  | 640 | 639 |
| **KKR Financial Holdings LLC**<br>5.400% due 05/23/2033 | 5500 | 5197 |
| **Korea Investment & Securities Co. Ltd.**<br>2.125% due 07/19/2026 | 1400 | 1392 |
| **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.**<br>4.250% due 02/01/2027 | 2465 | 2437 |
| **Lloyds Banking Group PLC**<br>4.431% (SOFRINDX + 0.770%) due 02/10/2030 ~ | 12200 | 12142 |
| **Mitsubishi HC Capital, Inc.**<br>5.080% due 09/15/2027 | 200 | 202 |
| **Mizrahi Tefahot Bank Ltd.**<br>5.049% due 01/28/2031 | 4900 | 4846 |
| **Mizuho Financial Group, Inc.**<br>4.740% (SOFRRATE + 1.080%) due 05/13/2031 ~ | 3836 | 3850 |
| **National Bank of Canada** |  |  |
| 4.950% due 02/01/2028 •  | 3740 | 3755 |
| 5.600% due 07/02/2027 •  | 5900 | 5918 |
| **Nationwide Building Society**<br>6.557% due 10/18/2027 •  | 1600 | 1618 |
| **Nissan Motor Acceptance Co. LLC**<br>1.850% due 09/16/2026 | 4745 | 4666 |
| **Nomura Holdings, Inc.** |  |  |
| 2.329% due 01/22/2027 | 3383 | 3327 |
| 5.386% due 07/06/2027 | 450 | 455 |
| **Pacific Life Global Funding II**<br>4.272% (SOFRRATE + 0.620%) due 06/04/2026 ~ | 1496 | 1497 |
| **PNC Bank NA**<br>4.397% (SOFRRATE + 0.730%) due 07/21/2028 ~ | 400 | 401 |
| **Royal Bank of Canada** |  |  |
| 4.387% (SOFRINDX + 0.720%) due 10/18/2027 ~ | 5200 | 5201 |
| 4.467% (SOFRINDX + 0.820%) due 03/27/2028 ~ | 4934 | 4940 |
| **Sammons Financial Group Global Funding**<br>4.504% due 09/02/2027 •  | 2600 | 2612 |
| **Sammons Financial Group, Inc.**<br>4.450% due 05/12/2027 | 1423 | 1415 |
| **Santander Holdings USA, Inc.** |  |  |
| 2.490% due 01/06/2028 •  | 3000 | 2949 |
| 3.244% due 10/05/2026 | 6800 | 6762 |
| **SMBC Aviation Capital Finance DAC**<br>1.900% due 10/15/2026 | 550 | 542 |
| **Societe Generale SA**<br>1.792% due 06/09/2027 •  | 6455 | 6421 |
| **Standard Chartered PLC**<br>4.300% due 02/19/2027 | 1620 | 1616 |
| **Stellantis Finance U.S., Inc.** |  |  |
| 1.711% due 01/29/2027 | 7989 | 7793 |
| 5.625% due 01/12/2028 | 1100 | 1112 |
| **Stellantis Financial Services U.S. Corp.**<br>5.338% (SOFRRATE + 1.690%) due 09/15/2028 ~ | 5000 | 5012 |
| **Synchrony Financial**<br>3.700% due 08/04/2026 | 1935 | 1929 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **VICI Properties LP**<br>4.750% due 04/01/2028 | 600 | 601 |
| **VICI Properties LP/VICI Note Co., Inc.** |  |  |
| 3.750% due 02/15/2027 | 4521 | 4488 |
| 4.250% due 12/01/2026 | 7286 | 7267 |
| 4.500% due 09/01/2026 | 600 | 599 |
| 5.750% due 02/01/2027 | 600 | 604 |
| **Wells Fargo & Co.** |  |  |
| 4.446% (SOFRRATE + 0.780%) due 01/24/2028 ~ | 204 | 204 |
| 4.900% due 01/24/2028 •  | 8600 | 8632 |
|  |  | 361053 |
| **INDUSTRIALS 16.9%** |  |  |
| **AbbVie, Inc.**<br>4.131% (SOFRINDX + 0.480%) due 03/03/2028 ~ | 1500 | 1502 |
| **Algonquin Power & Utilities Corp.**<br>5.365% due 06/15/2026 þ | 10162 | 10171 |
| **Amcor Finance USA, Inc.**<br>3.625% due 04/28/2026 | 2571 | 2570 |
| **Amcor Flexibles North America, Inc.**<br>3.100% due 09/15/2026 | 550 | 547 |
| **American Airlines Pass-Through Trust**<br>3.700% due 04/01/2028 | 747 | 744 |
| **Anglo American Capital PLC**<br>4.750% due 04/10/2027 | 1584 | 1586 |
| **APA Infrastructure Ltd.**<br>4.250% due 07/15/2027 | 9544 | 9523 |
| **Bayer U.S. Finance II LLC**<br>4.375% due 12/15/2028 | 4500 | 4456 |
| **Bayer U.S. Finance LLC**<br>6.125% due 11/21/2026 | 2600 | 2624 |
| **Berry Global, Inc.**<br>4.875% due 07/15/2026 | 1731 | 1731 |
| **BMW U.S. Capital LLC** |  |  |
| 4.426% (SOFRINDX + 0.780%) due 03/19/2027 ~ | 350 | 351 |
| 4.436% (SOFRRATE + 0.790%) due 03/17/2028 ~ | 20000 | 20004 |
| **Boeing Co.**<br>6.259% due 05/01/2027 | 600 | 611 |
| **Canadian Natural Resources Ltd.**<br>5.000% due 12/15/2029 | 700 | 711 |
| **Canadian Pacific Railway Co.**<br>3.125% due 06/01/2026 | 700 | 698 |
| **CDW LLC/CDW Finance Corp.**<br>2.670% due 12/01/2026 | 500 | 494 |
| **Cheniere Corpus Christi Holdings LLC**<br>5.125% due 06/30/2027 | 7000 | 7038 |
| **Conagra Brands, Inc.**<br>5.300% due 10/01/2026 | 686 | 689 |
| **Daimler Truck Finance North America LLC**<br>4.508% (SOFRRATE + 0.840%) due 01/13/2028 ~ | 1800 | 1802 |
| **Dell International LLC/EMC Corp.**<br>4.900% due 10/01/2026 | 1700 | 1703 |
| **Diamondback Energy, Inc.**<br>3.250% due 12/01/2026 | 716 | 712 |
| **DXC Technology Co.**<br>1.800% due 09/15/2026 | 5397 | 5331 |
| **Enbridge, Inc.**<br>4.250% due 12/01/2026 | 5681 | 5680 |
| **Energy Transfer LP**<br>5.500% due 06/01/2027 | 147 | 148 |
| **Entergy New Orleans LLC**<br>4.000% due 06/01/2026 | 1470 | 1468 |
| **EQT Corp.**<br>3.125% due 05/15/2026 | 2366 | 2361 |
| **Ford Motor Co.**<br>4.346% due 12/08/2026 | 1000 | 997 |
| **Foxconn Far East Ltd.**<br>1.875% due 08/25/2028 | 10100 | 9324 |
| **Fresenius Medical Care U.S. Finance III, Inc.**<br>1.875% due 12/01/2026 | 2100 | 2060 |
| **Glencore Funding LLC**<br>1.625% due 04/27/2026 | 657 | 656 |
| **Global Payments, Inc.**<br>4.500% due 11/15/2028 | 2000 | 1981 |
| **Haleon U.S. Capital LLC**<br>3.375% due 03/24/2027 | 500 | 495 |
| **Harley-Davidson Financial Services, Inc.**<br>3.050% due 02/14/2027 | 3410 | 3361 |
| **HCA, Inc.**<br>5.250% due 06/15/2026 | 114 | 114 |
| **Hyatt Hotels Corp.**<br>5.050% due 03/30/2028 | 1700 | 1715 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Hyundai Capital America** |  |  |
| 4.637% (SOFRRATE + 0.990%) due 03/25/2027 ~ | 9000 | 9020 |
| 4.677% (SOFRRATE + 1.030%) due 09/24/2027 ~ | 2100 | 2106 |
| 4.766% (SOFRRATE + 1.120%) due 06/23/2027 ~ | 4100 | 4114 |
| **Imperial Brands Finance PLC**<br>3.500% due 07/26/2026 | 400 | 399 |
| **JDE Peet's NV**<br>1.375% due 01/15/2027 | 3050 | 2975 |
| **Keurig Dr. Pepper, Inc.** |  |  |
| 4.240% (SOFRRATE + 0.580%) due 11/15/2026 ~ | 2000 | 1997 |
| 4.528% (SOFRINDX + 0.880%) due 03/15/2027 ~ | 5036 | 5043 |
| **Kia Corp.** |  |  |
| 2.750% due 02/14/2027 | 2310 | 2276 |
| 3.500% due 10/25/2027 | 200 | 197 |
| **Kraft Heinz Foods Co.**<br>3.000% due 06/01/2026 | 692 | 690 |
| **Kyndryl Holdings, Inc.**<br>2.050% due 10/15/2026 | 10802 | 10628 |
| **Las Vegas Sands Corp.**<br>3.500% due 08/18/2026 | 10688 | 10653 |
| **Marathon Petroleum Corp.**<br>5.125% due 12/15/2026 | 728 | 731 |
| **Marvell Technology, Inc.**<br>1.650% due 04/15/2026 | 5513 | 5507 |
| **NTT Finance Corp.**<br>1.162% due 04/03/2026 | 4500 | 4499 |
| **Nutrien Ltd.**<br>4.000% due 12/15/2026 | 3000 | 2994 |
| **PeaceHealth Obligated Group**<br>4.335% due 11/15/2028 | 4600 | 4580 |
| **Qatarenergy LNG S3**<br>6.332% due 09/30/2027 | 977 | 976 |
| **Renesas Electronics Corp.**<br>2.170% due 11/25/2026 | 1305 | 1285 |
| **Rogers Communications, Inc.**<br>3.200% due 03/15/2027 | 3320 | 3280 |
| **Royal Caribbean Cruises Ltd.** |  |  |
| 5.375% due 07/15/2027 | 3200 | 3212 |
| 5.500% due 04/01/2028 | 8600 | 8700 |
| **Salesforce, Inc.** |  |  |
| 4.500% due 03/15/2028 | 4500 | 4503 |
| 4.650% due 03/15/2029 | 2500 | 2506 |
| **Sirius XM Radio LLC**<br>5.000% due 08/01/2027 | 1083 | 1082 |
| **SK Telecom Co. Ltd.**<br>6.625% due 07/20/2027 | 800 | 822 |
| **Skyworks Solutions, Inc.**<br>1.800% due 06/01/2026 | 9400 | 9356 |
| **Smith & Nephew PLC**<br>5.150% due 03/20/2027 | 615 | 618 |
| **Smithfield Foods, Inc.**<br>4.250% due 02/01/2027 | 2014 | 2005 |
| **South Bow USA Infrastructure Holdings LLC**<br>4.911% due 09/01/2027 | 2100 | 2109 |
| **Tengizchevroil Finance Co. International Ltd.**<br>4.000% due 08/15/2026 | 600 | 599 |
| **TR Finance LLC**<br>3.350% due 05/15/2026 | 1000 | 998 |
| **Triton Container International Ltd.**<br>2.050% due 04/15/2026 | 5403 | 5397 |
| **Uber Technologies, Inc.**<br>4.500% due 08/15/2029 | 3800 | 3770 |
| **United Airlines Pass-Through Trust**<br>3.750% due 03/03/2028 | 2089 | 2085 |
| **Universal Health Services, Inc.**<br>1.650% due 09/01/2026 | 2000 | 1976 |
| **Volkswagen Group of America Finance LLC** |  |  |
| 4.707% (SOFRRATE + 1.060%) due 03/25/2027 ~ | 1800 | 1804 |
| 4.950% due 03/25/2027 | 2500 | 2511 |
| **Vontier Corp.**<br>1.800% due 04/01/2026 | 2100 | 2100 |
| **Westinghouse Air Brake Technologies Corp.**<br>3.450% due 11/15/2026 | 875 | 870 |
|  |  | 236931 |
| **UTILITIES 4.5%** |  |  |
| **Colorado Interstate Gas Co. LLC/Colorado Interstate Issuing Corp.**<br>4.150% due 08/15/2026 | 150 | 150 |
| **Columbia Pipelines Holding Co. LLC**<br>6.055% due 08/15/2026 | 715 | 718 |
| **Dominion Energy, Inc.**<br>1.450% due 04/15/2026 | 2700 | 2697 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Duke Energy Corp.**<br>4.850% due 01/05/2027 | 2200 | 2210 |
| **Emera U.S. Finance LP**<br>3.550% due 06/15/2026 | 6019 | 6005 |
| **Eversource Energy**<br>2.900% due 03/01/2027 | 1040 | 1027 |
| **FirstEnergy Corp.**<br>3.900% due 07/15/2027 | 901 | 894 |
| **Fortis, Inc.**<br>3.055% due 10/04/2026 | 4795 | 4762 |
| **Israel Electric Corp. Ltd.** |  |  |
| 4.250% due 08/14/2028 | 2000 | 1963 |
| 7.750% due 12/15/2027 | 11000 | 11492 |
| **JERA Co., Inc.**<br>3.665% due 04/14/2027 | 400 | 397 |
| **KeySpan Gas East Corp.**<br>2.742% due 08/15/2026 | 1727 | 1715 |
| **New York State Electric & Gas Corp.**<br>3.250% due 12/01/2026 | 9146 | 9081 |
| **Pacific Gas & Electric Co.**<br>3.300% due 03/15/2027 | 2739 | 2707 |
| **Plains All American Pipeline LP/PAA Finance Corp.**<br>4.500% due 12/15/2026 | 1226 | 1227 |
| **SGSP Australia Assets Pty. Ltd.**<br>3.500% due 07/07/2027 | 4900 | 4843 |
| **Southern California Edison Co.** |  |  |
| 3.650% due 03/01/2028 | 3300 | 3249 |
| 4.400% due 09/06/2026 | 1000 | 1000 |
| 4.875% due 02/01/2027 | 300 | 301 |
| 4.900% due 06/01/2026 | 600 | 599 |
| **Vistra Operations Co. LLC** |  |  |
| 3.700% due 01/30/2027 | 1400 | 1389 |
| 5.050% due 12/30/2026 | 5056 | 5074 |
|  |  | 63500 |
| Total Corporate Bonds & Notes (Cost $662,906) |  | 661484 |
| **U.S. GOVERNMENT AGENCIES 30.7%** |  |  |
| **Federal Home Loan Mortgage Corp.** |  |  |
| 2.000% due 02/01/2028 - 04/01/2028 | 1 | 1 |
| 3.000% due 03/01/2048 | 271 | 242 |
| 5.000% due 10/01/2033 - 02/01/2038 | 150 | 153 |
| 5.400% due 09/01/2037 - 11/01/2038 | 198 | 202 |
| 5.500% due 08/01/2033 - 06/01/2047 | 849 | 864 |
| 5.550% due 06/01/2037 | 52 | 52 |
| 6.000% due 09/01/2031 - 05/01/2033 | 13 | 13 |
| 6.500% due 11/01/2036 - 10/17/2038 | 218 | 223 |
| 7.000% due 05/01/2029 | 7 | 7 |
| **Federal Home Loan Mortgage Corp. REMICS** |  |  |
| 2.500% due 10/25/2048 | 114 | 104 |
| 4.532% due 04/25/2055 •  | 4923 | 4942 |
| 4.562% due 09/25/2055 - 12/25/2055 •  | 3281 | 3299 |
| 4.592% due 05/25/2055 •  | 4260 | 4288 |
| 4.602% due 11/25/2054 •  | 8449 | 8504 |
| 4.612% due 10/25/2054 - 09/25/2055 •  | 12029 | 12116 |
| 4.642% due 02/25/2055 •  | 907 | 913 |
| 4.662% due 10/25/2052 - 06/25/2055 •  | 22165 | 22380 |
| 4.672% due 03/25/2055 ~•  | 10200 | 10148 |
| 4.762% due 08/25/2054 - 07/25/2055 •  | 2278 | 2292 |
| 4.812% due 12/25/2054 - 11/25/2055 •  | 21265 | 21393 |
| 4.862% due 01/25/2055 - 08/25/2055 •  | 6040 | 6099 |
| 4.912% due 05/25/2054 •  | 2388 | 2414 |
| **Federal National Mortgage Association** |  |  |
| 3.000% due 10/01/2046 | 196 | 177 |
| 4.000% due 06/01/2042 - 03/01/2047 | 346 | 336 |
| 4.300% due 12/01/2032 | 9700 | 9621 |
| 4.532% due 09/01/2029 ~ | 1098 | 1107 |
| 4.750% due 09/01/2034 - 04/01/2036 | 261 | 260 |
| 4.812% due 08/01/2029 ~ | 1530 | 1557 |
| 5.000% due 07/01/2033 - 07/01/2044 | 917 | 914 |
| 5.150% due 05/01/2035 | 31 | 31 |
| 5.340% due 09/01/2029 | 29 | 30 |
| 5.350% due 02/01/2035 - 01/01/2038 | 235 | 235 |
| 5.450% due 04/01/2036 | 70 | 70 |
| 5.500% due 12/01/2031 - 09/01/2040 | 667 | 670 |
| 6.000% due 05/01/2029 - 04/01/2048 | 469 | 478 |
| 6.500% due 07/01/2036 - 09/01/2048 | 233 | 237 |
| **Federal National Mortgage Association REMICS** |  |  |
| 4.000% due 01/25/2051 | 6233 | 6169 |
| 4.562% due 12/25/2053 - 08/25/2055 •  | 8738 | 8775 |
| 4.572% due 03/25/2055 •  | 554 | 557 |
| 4.612% due 01/25/2055 - 03/25/2055 •  | 634 | 638 |
| 4.662% due 10/25/2054 - 11/25/2055 •  | 5072 | 5110 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.712% due 01/25/2055 - 09/25/2055 •  | 5320 | 5350 |
| 4.762% due 06/25/2054 - 07/25/2055 •  | 10036 | 10099 |
| 4.772% due 04/25/2056 •  | 10300 | 10294 |
| 4.812% due 01/25/2055 - 03/25/2055 •  | 4865 | 4903 |
| 4.822% due 03/25/2055 •  | 1986 | 2003 |
| 4.862% due 12/25/2053 - 01/25/2055 •  | 2422 | 2444 |
| 4.912% due 02/25/2055 - 10/25/2055 •  | 2577 | 2596 |
| 4.962% due 10/25/2053 •  | 34362 | 34754 |
| **Federal National Mortgage Association-ACES** |  |  |
| 2.560% due 12/25/2026 ~ | 804 | 795 |
| 2.961% due 02/25/2027 ~ | 1825 | 1808 |
| 3.073% due 06/25/2027 ~ | 529 | 523 |
| **Government National Mortgage Association** |  |  |
| 3.000% due 11/20/2046 | 68 | 61 |
| 3.500% due 05/20/2042 | 47 | 43 |
| 3.700% due 04/15/2042 | 87 | 82 |
| 3.740% due 03/20/2042 - 07/20/2042 | 67 | 62 |
| 3.750% due 04/15/2042 - 03/20/2044 | 116 | 110 |
| 4.000% due 04/20/2040 - 06/20/2043 | 478 | 450 |
| 4.500% due 08/20/2038 - 11/20/2048 | 271 | 266 |
| 5.350% due 12/15/2036 - 01/15/2038 | 188 | 192 |
| 5.400% due 06/20/2039 | 74 | 76 |
| 5.500% due 03/20/2034 - 08/20/2041 | 288 | 289 |
| 6.000% due 09/20/2038 | 14 | 14 |
| 6.500% due 10/15/2027 - 07/20/2039 | 27 | 28 |
| 7.000% due 05/15/2026 - 06/20/2055 | 1691 | 1724 |
| **Government National Mortgage Association REMICS** |  |  |
| 2.500% due 10/20/2049 | 96 | 85 |
| 3.500% due 11/20/2049 | 6063 | 5886 |
| 4.373% due 08/20/2075 •  | 2936 | 2936 |
| 4.423% due 10/20/2072 •  | 489 | 490 |
| 4.573% due 06/20/2055 - 07/20/2074 •  | 12126 | 12252 |
| 4.623% due 01/20/2054 - 05/20/2055 •  | 1400 | 1410 |
| 4.653% due 09/20/2073 •  | 7221 | 7333 |
| 4.673% due 05/20/2073 •  | 10099 | 10279 |
| 4.787% due 08/16/2039 •  | 3 | 3 |
| 4.823% due 06/20/2055 - 07/20/2055 •  | 1001 | 1010 |
| **Uniform Mortgage-Backed Security, TBA** |  |  |
| 5.000% due 04/01/2056 | 91800 | 90548 |
| 6.000% due 06/01/2056 - 07/01/2056 | 80900 | 82334 |
| Total U.S. Government Agencies (Cost $430,912) |  | 431153 |
| **U.S. TREASURY OBLIGATIONS 0.2%** |  |  |
| **U.S. Treasury Inflation Protected Securities** **(d)** |  |  |
| 2.125% due 04/15/2029 (h)(j) | 2828 | 2905 |
| Total U.S. Treasury Obligations (Cost $2,833) |  | 2905 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 3.7%** |  |  |
| **Angel Oak Mortgage Trust**<br>1.469% due 06/25/2065 ~ | 208 | 202 |
| **Bear Stearns ALT-A Trust** |  |  |
| 4.113% due 02/25/2034 •  | 388 | 370 |
| 5.158% due 05/25/2035 ~ | 14 | 13 |
| **BWAY Mortgage Trust**<br>5.037% due 09/15/2036 •  | 3000 | 2953 |
| **Chase Mortgage Finance Trust**<br>6.055% due 02/25/2037 ~ | 233 | 230 |
| **Chevy Chase Funding LLC Mortgage-Backed Certificates** |  |  |
| 3.993% due 01/25/2036 •  | 20 | 20 |
| 4.023% due 10/25/2035 •  | 120 | 116 |
| 4.093% due 08/25/2035 •  | 12 | 12 |
| **Citigroup Mortgage Loan Trust, Inc.** |  |  |
| 4.512% due 05/25/2051 •  | 3212 | 3002 |
| 5.162% due 06/25/2055 •  | 545 | 549 |
| **Countrywide Alternative Loan Trust**<br>4.073% due 06/25/2037 •  | 47 | 43 |
| **First Horizon Alternative Mortgage Securities Trust**<br>5.421% due 02/25/2035 ~ | 125 | 121 |
| **GCAT Trust** |  |  |
| 2.650% due 10/25/2068 ~ | 163 | 159 |
| 2.885% due 12/27/2066 ~ | 1366 | 1265 |
| **Government National Mortgage Association REMICS** |  |  |
| 4.443% due 09/20/2075 •  | 844 | 852 |
| 4.453% due 10/20/2075 •  | 1428 | 1440 |
| **GS Mortgage-Backed Securities Trust** |  |  |
| 4.517% due 12/25/2051 •  | 2159 | 2019 |
| 4.517% due 02/25/2052 •  | 3496 | 3268 |
| 5.011% due 11/25/2054 •  | 1163 | 1166 |
| **GSR Mortgage Loan Trust** |  |  |
| 5.939% due 08/25/2033 •  | 6 | 6 |
| **Impac CMB Trust**<br>4.433% due 03/25/2035 •  | 55 | 54 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **JP Morgan Chase Commercial Mortgage Securities Trust**<br>5.170% due 12/15/2031 •  | 551 | 550 |
| **JP Morgan Mortgage Trust**<br>4.968% due 07/25/2035 ~ | 118 | 113 |
| **MASTR Adjustable Rate Mortgages Trust**<br>6.236% due 04/21/2034 ~ | 9 | 9 |
| **Merrill Lynch Mortgage Investors Trust** |  |  |
| 4.253% due 04/25/2029 •  | 58 | 54 |
| 5.559% due 12/25/2035 ~ | 89 | 87 |
| **MFA Trust**<br>6.105% due 12/25/2068 þ | 562 | 566 |
| **Morgan Stanley Mortgage Loan Trust**<br>4.873% due 11/25/2035 •  | 755 | 751 |
| **Morgan Stanley Residential Mortgage Loan Trust** |  |  |
| 4.517% due 09/25/2051 •  | 702 | 657 |
| 5.530% due 05/25/2070 ~ | 5027 | 5045 |
| **New Residential Mortgage Loan Trust** |  |  |
| 0.941% due 10/25/2058 ~ | 595 | 573 |
| 2.464% due 01/26/2060 ~ | 3403 | 3211 |
| 3.500% due 12/25/2057 ~ | 687 | 669 |
| 3.500% due 10/25/2059 ~ | 285 | 268 |
| 4.500% due 05/25/2058 ~ | 70 | 68 |
| **NYO Commercial Mortgage Trust**<br>4.882% due 11/15/2038 •  | 6000 | 5991 |
| **OBX Trust** |  |  |
| 1.957% due 10/25/2061 ~ | 185 | 160 |
| 6.520% due 07/25/2063 þ | 1302 | 1304 |
| **PRKCM Trust**<br>6.333% due 03/25/2059 þ | 179 | 181 |
| **PRPM Trust**<br>6.221% due 11/25/2068 þ | 408 | 411 |
| **Sequoia Mortgage Trust** |  |  |
| 4.190% due 07/20/2036 •  | 315 | 271 |
| **Starwood Mortgage Residential Trust**<br>1.486% due 04/25/2065 ~ | 107 | 105 |
| **Structured Asset Mortgage Investments II Trust**<br>4.371% due 07/19/2034 •  | 1 | 1 |
| **Structured Asset Mortgage Investments Trust**<br>4.451% due 09/19/2032 •  | 1 | 1 |
| **Thornburg Mortgage Securities Trust**<br>5.266% due 04/25/2045 ~ | 23 | 23 |
| **Towd Point Mortgage Trust** |  |  |
| 2.250% due 11/25/2061 ~ | 477 | 447 |
| 2.250% due 12/25/2061 ~ | 1172 | 1147 |
| 3.750% due 05/25/2058 ~ | 1158 | 1138 |
| 4.103% due 01/25/2066 ~ | 1957 | 1932 |
| 4.793% due 05/25/2058 •  | 390 | 397 |
| 4.793% due 10/25/2059 •  | 236 | 236 |
| **Verus Securitization Trust** |  |  |
| 5.402% due 05/25/2065 þ | 2205 | 2213 |
| 5.712% due 01/25/2069 þ | 924 | 927 |
| 6.259% due 12/25/2068 þ | 2271 | 2283 |
| 6.476% due 06/25/2068 þ | 1216 | 1216 |
| **WaMu Mortgage Pass-Through Certificates Trust** |  |  |
| 3.817% due 07/25/2037 ~ | 303 | 274 |
| 4.413% due 01/25/2045 •  | 4 | 4 |
| 4.593% due 06/25/2044 •  | 261 | 263 |
| 4.653% due 10/25/2045 •  | 41 | 40 |
| 4.839% due 06/25/2046 •  | 19 | 18 |
| 5.718% due 06/25/2033 ~ | 1 | 1 |
| Total Non-Agency Mortgage-Backed Securities (Cost $52,552) |  | 51465 |
| **ASSET-BACKED SECURITIES 21.8%** |  |  |
| **AUTOMOBILE ABS OTHER 0.2%** |  |  |
| **Ford Credit Auto Lease Trust**<br>4.082% (SOFR30A + 0.410%) due 08/15/2027 ~ | 2369 | 2369 |
| **AUTOMOBILE SEQUENTIAL 5.2%** |  |  |
| **Ally Auto Receivables Trust**<br>4.140% due 07/16/2029 | 3242 | 3244 |
| **ARI Fleet Lease Trust**<br>4.590% due 03/15/2034 | 1088 | 1091 |
| **Avis Budget Rental Car Funding AESOP LLC**<br>5.900% due 08/21/2028 | 8100 | 8253 |
| **Bank of America Auto Trust**<br>5.530% due 02/15/2028 | 1210 | 1216 |
| **BofA Auto Trust**<br>5.350% due 11/15/2028 | 2962 | 2982 |
| **Carvana Auto Receivables Trust** |  |  |
| 4.100% due 06/11/2029 | 2800 | 2797 |
| 4.260% due 10/10/2029 | 4338 | 4339 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.550% due 05/10/2030 | 3000 | 3011 |
| 5.380% due 03/12/2029 | 2500 | 2528 |
| 5.820% due 08/10/2028 | 925 | 929 |
| **Chase Auto Owner Trust** |  |  |
| 4.180% due 08/27/2029 | 800 | 801 |
| 4.940% due 07/25/2029 | 7503 | 7551 |
| **Citizens Auto Receivables Trust** |  |  |
| 5.830% due 02/15/2028 | 1786 | 1795 |
| 5.840% due 01/18/2028 | 1769 | 1776 |
| **Enterprise Fleet Financing LLC** |  |  |
| 4.050% due 08/20/2028 | 4800 | 4796 |
| 4.820% due 02/20/2029 | 3700 | 3734 |
| 5.760% due 10/22/2029 | 176 | 176 |
| **Ford Credit Auto Owner Trust**<br>4.850% due 08/15/2035 | 6100 | 6167 |
| **GECU Auto Receivables Trust**<br>5.630% due 08/15/2028 | 907 | 910 |
| **GM Financial Automobile Leasing Trust**<br>5.090% due 03/22/2027 | 430 | 430 |
| **Harley-Davidson Motorcycle Trust**<br>4.310% due 07/16/2029 | 4002 | 4010 |
| **Huntington Auto Trust**<br>5.230% due 01/16/2029 | 2140 | 2155 |
| **LAD Auto Receivables Trust**<br>5.610% due 08/15/2028 | 1073 | 1077 |
| **M&T Bank Auto Receivables Trust**<br>4.730% due 06/17/2030 | 3000 | 3024 |
| **SFS Auto Receivables Securitization Trust**<br>3.910% due 08/20/2029 | 600 | 599 |
| **Toyota Auto Receivables Owner Trust**<br>5.160% due 04/17/2028 | 1424 | 1431 |
| **Upgrade Auto Receivables Trust**<br>4.540% due 05/15/2029 | 1784 | 1785 |
|  |  | 72607 |
| **CMBS OTHER 0.3%** |  |  |
| **AREIT Trust**<br>5.920% due 06/17/2039 •  | 3704 | 3706 |
| **CREDIT CARD BULLET 0.9%** |  |  |
| **Evergreen Credit Card Trust**<br>4.231% due 10/15/2029 •  | 7400 | 7425 |
| **Synchrony Card Issuance Trust**<br>4.780% due 02/15/2031 | 5900 | 5962 |
|  |  | 13387 |
| **CREDIT CARD OTHER 0.3%** |  |  |
| **Trillium Credit Card Trust II**<br>4.225% due 09/26/2030 •  | 4300 | 4319 |
| **HOME EQUITY OTHER 0.3%** |  |  |
| **Asset-Backed Securities Corp. Home Equity Loan Trust**<br>4.603% due 06/25/2034 •  | 54 | 56 |
| **Bear Stearns Asset-Backed Securities I Trust**<br>4.693% due 08/25/2034 •  | 375 | 370 |
| **Chase Funding Trust**<br>4.393% due 07/25/2033 •  | 120 | 121 |
| **Countrywide Asset-Backed Certificates Trust**<br>3.370% due 03/25/2036 •  | 26 | 26 |
| **Finance America Mortgage Loan Trust**<br>4.618% due 08/25/2034 •  | 91 | 88 |
| **GSAA Home Equity Trust**<br>4.333% due 07/25/2037 •  | 25 | 25 |
| **GSAMP Trust**<br>4.313% due 06/25/2036 •  | 344 | 338 |
| **New Century Home Equity Loan Trust**<br>4.723% due 11/25/2034 •  | 271 | 272 |
| **RAAC Trust**<br>4.343% due 01/25/2046 •  | 148 | 148 |
| **Renaissance Home Equity Loan Trust**<br>3.723% due 08/25/2033 •  | 532 | 493 |
| **Residential Asset Securities Corporation Trust**<br>4.888% due 03/25/2035 •  | 157 | 158 |
| **Saxon Asset Securities Trust**<br>2.405% due 05/25/2035 •  | 77 | 75 |
| **Securitized Asset-Backed Receivables LLC Trust**<br>4.468% due 01/25/2035 •  | 84 | 77 |
| **Structured Asset Investment Loan Trust** |  |  |
| 4.343% due 09/25/2034 •  | 1341 | 1287 |
| 4.498% due 03/25/2034 •  | 256 | 273 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Wells Fargo Home Equity Trust Mortgage Pass-Through Certificates**<br>4.393% due 04/25/2034 •  | 650 | 642 |
|  |  | 4449 |
| **WHOLE LOAN COLLATERAL 0.1%** |  |  |
| **First Franklin Mortgage Loan Trust** |  |  |
| 4.113% due 04/25/2036 •  | 685 | 678 |
| 4.543% due 11/25/2034 •  | 41 | 41 |
|  |  | 719 |
| **OTHER ABS 14.5%** |  |  |
| **37 Capital CLO 1 Ltd.**<br>4.952% due 10/15/2034 •  | 3400 | 3405 |
| **AMMC CLO 27 Ltd.**<br>4.748% due 01/20/2037 •  | 700 | 700 |
| **Anchorage Credit Funding 19 Ltd.**<br>5.036% due 10/25/2040 | 400 | 397 |
| **Apidos CLO XXXV**<br>4.979% due 04/20/2034 •  | 650 | 651 |
| **Ascent Education Funding Trust**<br>6.140% due 10/25/2050 | 1495 | 1526 |
| **Atlas Senior Loan Fund XVII Ltd.**<br>4.728% due 10/20/2034 •  | 1000 | 1000 |
| **Bain Capital Credit CLO Ltd.** |  |  |
| 4.728% due 07/24/2034 •  | 3300 | 3302 |
| 4.760% due 10/21/2034 •  | 3300 | 3302 |
| **BlueMountain CLO XXXII Ltd.**<br>4.772% due 10/15/2034 •  | 4900 | 4902 |
| **Carlyle U.S. CLO Ltd.**<br>4.778% due 10/20/2034 •  | 800 | 800 |
| **Cedar Funding VI CLO Ltd.**<br>4.758% due 04/20/2034 •  | 300 | 300 |
| **Dryden 60 CLO Ltd.**<br>4.984% due 07/15/2031 •  | 1373 | 1374 |
| **Dryden 86 CLO Ltd.**<br>4.798% due 07/17/2034 •  | 800 | 801 |
| **ELFI Graduate Loan Program LLC**<br>1.530% due 12/26/2046 | 3017 | 2731 |
| **Elmwood CLO 15 Ltd.**<br>4.819% due 04/22/2035 •  | 4500 | 4501 |
| **Galaxy XXII CLO Ltd.**<br>4.683% due 04/16/2034 •  | 4300 | 4298 |
| **Greywolf CLO IV Ltd.**<br>4.908% due 04/17/2034 •  | 600 | 601 |
| **Guggenheim CLO Ltd.**<br>4.822% due 01/15/2035 •  | 4900 | 4902 |
| **ICG U.S. CLO Ltd.**<br>4.661% due 01/16/2033 •  | 1110 | 1111 |
| **Jamestown CLO XVI Ltd.**<br>4.788% due 07/25/2034 •  | 500 | 500 |
| **KKR CLO 16 Ltd.**<br>4.808% due 10/20/2034 •  | 5000 | 5005 |
| **KKR CLO 27 Ltd.**<br>4.782% due 01/15/2035 •  | 500 | 500 |
| **KKR CLO 33 Ltd.**<br>4.748% due 07/20/2034 •  | 4900 | 4905 |
| **KKR CLO 42 Ltd.**<br>4.818% due 07/20/2034 •  | 4700 | 4706 |
| **LCM 30 Ltd.**<br>5.009% due 04/20/2031 •  | 239 | 239 |
| **LCM 36 Ltd.**<br>4.742% due 01/15/2034 •  | 1600 | 1601 |
| **Marble Point CLO XXIV Ltd.**<br>4.753% due 04/20/2035 •  | 6200 | 6202 |
| **Navesink CLO 2 Ltd.**<br>4.862% due 01/15/2036 •  | 5700 | 5700 |
| **Navient Education Loan Trust**<br>5.020% due 07/15/2055 | 1164 | 1167 |
| **Navient Private Education Loan Trust** |  |  |
| 2.460% due 11/15/2068 | 356 | 345 |
| 5.237% due 07/16/2040 •  | 580 | 581 |
| **Navient Private Education Refi Loan Trust** |  |  |
| 0.840% due 05/15/2069 | 639 | 585 |
| 1.170% due 09/16/2069 | 805 | 755 |
| 1.310% due 01/15/2069 | 280 | 266 |
| 4.787% due 04/15/2069 •  | 1011 | 1006 |
| **Navient Refinance Loan Trust**<br>4.800% due 10/15/2055 | 1952 | 1944 |
| **Navient Student Loan Trust**<br>6.480% due 03/15/2072 | 3083 | 3161 |
| **Nelnet Student Loan Trust** |  |  |
| 4.610% due 02/21/2061 | 2877 | 2842 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.670% due 06/22/2065 | 4036 | 3995 |
| 4.840% due 05/17/2055 | 3894 | 3880 |
| 4.973% due 02/21/2061 •  | 863 | 868 |
| **Northwoods Capital 25 Ltd.**<br>4.788% due 07/20/2034 •  | 1600 | 1601 |
| **Octagon Investment Partners 40 Ltd.**<br>4.708% due 01/20/2035 •  | 3400 | 3401 |
| **Palmer Square Loan Funding Ltd.**<br>4.480% due 08/08/2032 •  | 5500 | 5499 |
| **PFS Financing Corp.**<br>5.520% due 10/15/2028 | 5000 | 5037 |
| **PK ALIFT Loan Funding 4 LP**<br>5.052% due 10/15/2039 | 3924 | 3937 |
| **Post CLO Ltd.**<br>4.762% due 04/20/2035 •  | 6100 | 6101 |
| **Post Road Equipment Finance LLC**<br>4.900% due 05/15/2031 | 4089 | 4117 |
| **Romark CLO - IV Ltd.**<br>4.790% due 07/10/2034 •  | 2200 | 2202 |
| **Romark CLO V Ltd.**<br>4.862% due 01/15/2035 •  | 4400 | 4397 |
| **Shackleton CLO Ltd.**<br>4.868% due 07/20/2034 •  | 4300 | 4306 |
| **SLM Student Loan Trust** |  |  |
| 4.899% due 04/25/2049 •  | 6 | 6 |
| 5.849% due 01/27/2027 •  | 42 | 42 |
| **SMB Private Education Loan Trust** |  |  |
| 0.000% due 12/15/2053 •  | 4400 | 4407 |
| 1.600% due 09/15/2054 | 486 | 460 |
| 2.230% due 09/15/2037 | 671 | 652 |
| 4.387% due 03/17/2053 •  | 219 | 217 |
| 4.480% due 05/16/2050 | 1698 | 1683 |
| 4.643% due 09/15/2054 •  | 1932 | 1927 |
| 5.022% due 10/16/2056 •  | 4185 | 4224 |
| 5.030% due 03/15/2056 (a) | 9700 | 9712 |
| 5.060% due 03/16/2054 | 1207 | 1216 |
| 5.090% due 10/16/2056 | 930 | 938 |
| 5.122% due 03/15/2056 •  | 297 | 300 |
| 5.130% due 04/15/2054 | 2674 | 2695 |
| 5.240% due 03/15/2056 | 2226 | 2248 |
| 5.380% due 07/15/2053 | 1956 | 1986 |
| 5.670% due 11/15/2052 | 2859 | 2918 |
| **SoFi Professional Loan Program LLC**<br>1.950% due 02/15/2046 | 319 | 300 |
| **Symphony CLO 52 Ltd.**<br>4.815% due 01/20/2036 •  | 5900 | 5900 |
| **Thayer Park CLO Ltd.**<br>4.668% due 04/20/2034 •  | 4900 | 4898 |
| **Towd Point Asset Trust**<br>4.490% due 11/20/2061 •  | 361 | 361 |
| **Trimaran CAVU Ltd.**<br>4.667% due 10/25/2034 •  | 4200 | 4199 |
| **Unity-Peace Park CLO Ltd.**<br>4.723% due 04/20/2035 •  | 6100 | 6102 |
| **Venture 36 CLO Ltd.**<br>5.059% due 04/20/2032 •  | 369 | 369 |
| **Verdelite Static CLO Ltd.**<br>4.798% due 07/20/2032 •  | 2405 | 2408 |
| **Verizon Master Trust**<br>4.170% due 08/20/2030 | 4500 | 4502 |
| **Voya CLO Ltd.**<br>4.728% due 04/20/2034 •  | 3300 | 3302 |
| **Wellfleet CLO Ltd.**<br>4.848% due 04/20/2034 •  | 4500 | 4505 |
|  |  | 204432 |
| Total Asset-Backed Securities (Cost $305,589) |  | 305988 |
| **SOVEREIGN ISSUES 2.1%** |  |  |
| **Cassa Depositi e Prestiti SpA**<br>5.875% due 04/30/2029 | 2800 | 2923 |
| **Eagle Funding Luxco SARL**<br>5.500% due 08/17/2030 | 5400 | 5435 |
| **Korea National Oil Corp.**<br>4.547% (SOFRRATE + 0.900%) due 09/30/2027 ~ | 2015 | 2026 |
| **Panama Government International Bonds** |  |  |
| 3.875% due 03/17/2028 | 900 | 886 |
| 8.875% due 09/30/2027 | 1400 | 1489 |
| **Republic of South Africa Government International Bonds**<br>4.875% due 04/14/2026 | 4400 | 4403 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Saudi Government International Bonds**<br>5.125% due 01/13/2028 | 11500 | 11625 |
| Total Sovereign Issues (Cost $28,741) |  | 28787 |
| **SHORT-TERM INSTRUMENTS 5.8%** |  |  |
| **COMMERCIAL PAPER 5.1%** |  |  |
| **Boston Properties LP**<br>4.200% due 04/27/2026 | 400 | 399 |
| **Constellation Energy Generation LLC** |  |  |
| 3.870% due 04/01/2026 | 900 | 900 |
| 3.870% due 04/02/2026 | 900 | 900 |
| **Crown Castle, Inc.** |  |  |
| 4.180% due 04/16/2026 | 2700 | 2695 |
| 4.200% due 04/14/2026 | 4300 | 4293 |
| 4.200% due 04/16/2026 | 2500 | 2495 |
| 4.300% due 04/21/2026 | 300 | 299 |
| **Eversource Energy**<br>4.050% due 04/09/2026 | 12900 | 12888 |
| **Extra Space Storage LP**<br>4.180% due 04/22/2026 | 5200 | 5187 |
| **HCA, Inc.** |  |  |
| 4.150% due 04/16/2026 | 400 | 399 |
| 4.150% due 04/17/2026 | 300 | 299 |
| 4.150% due 04/22/2026 | 300 | 299 |
| 4.200% due 05/18/2026 | 400 | 398 |
| 4.250% due 05/13/2026 | 4200 | 4178 |
| 4.350% due 04/23/2026 | 4100 | 4089 |
| 4.380% due 05/01/2026 | 11200 | 11158 |
| **Keurig Dr. Pepper, Inc.**<br>4.300% due 05/01/2026 | 9700 | 9664 |
| **Phillips 66** |  |  |
| 4.350% due 05/01/2026 | 5900 | 5880 |
| 4.400% due 05/29/2026 | 5900 | 5861 |
|  |  | 72281 |
| **REPURCHASE AGREEMENTS (f) 0.3%** |  | 4600 |
| **SHORT-TERM NOTES 0.2%** |  |  |
| **HPEFS Equipment Trust**<br>4.153% due 10/20/2026 | 3074 | 3075 |
| **U.S. TREASURY BILLS 0.2%** |  |  |
| 3.684% due 06/30/2026 - 07/21/2026 (b)(c) | 2147 | 2127 |
| Total Short-Term Instruments (Cost $82,084) |  | 82083 |
| Total Investments in Securities (Cost $1,565,617) |  | 1563865 |
| Total Investments 111.4% (Cost $1,565,617) |  | $1563865 |
| **Financial Derivative Instruments** **(g)(i)** **0.1**%(Cost or Premiums, net $1,124) |  | 1689 |
| Other Assets and Liabilities, net (11.5)% |  | (161486) |
| Net Assets 100.0% |  | $1404068 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (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)** | **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.** |
| **(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)** | **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.** |
| **(e)** | **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 | Coupon | Maturity<br>Date | Maturity<br>Date | Acquisition<br>Date | Acquisition<br>Date | Cost |  | Market<br>Value | <br>Market Value<br>as Percentage<br>of Net Assets | <br>Market Value<br>as Percentage<br>of Net Assets |
| Hardwood Funding LLC | Hardwood Funding LLC | 4.360 | 06/08/2029 | 06/08/2029 | 01/16/2026 | 01/16/2026 | 2000 | $ | 1990 | 0.14 | 0.14% |
| **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** |
| **(f)** | **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 | 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> |
| FICC STR | 04/01/2026 | 4600 | &nbsp;&nbsp; U.S. Treasury Inflation Protected Securities 2.375% due 02/15/2056 | &nbsp;&nbsp; U.S. Treasury Inflation Protected Securities 2.375% due 02/15/2056 | &nbsp;&nbsp; U.S. Treasury Inflation Protected Securities 2.375% due 02/15/2056 | &nbsp;&nbsp; U.S. Treasury Inflation Protected Securities 2.375% due 02/15/2056 | (4692) | (4692) | 4600 | $ | 4600 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  | **(4692)** | **(4692)** | **4600** | **$** | **4600** |
| <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. |
| **The average amount of borrowings outstanding during the period ended March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 March 31, 2026 was $(2071) at a weighted average interest rate of 3.839%. 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 | Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability | Liability |
| 3-Month SOFR Active Contract December Futures | 3-Month SOFR Active Contract December Futures | 03/2028 | 1398 | $337600 | 337600 | $(760) | (760) | $78 | 78 | $0 | 0 |
| U.S. Treasury 2-Year Note June Futures | U.S. Treasury 2-Year Note June Futures | 06/2026 | 5599 | 1161486 | 1161486 | (1629) | (1629) | 634 | 634 | 0 | 0 |
| U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | 06/2026 | 1461 | 158051 | 158051 | (2236) | (2236) | 200 | 200 | 0 | 0 |
|  |  |  |  |  |  | (4625) | $ | 912 | $ | 0 | 0 |
| **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 | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability | Liability |
| U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | 06/2026 | 84 | $(9328) | (9328) | $188 | 188 | $0 | 0 | $(15) | (15) |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | 06/2026 | 884 | (100348) | (100348) | 1545 | 1545 | 0 | 0 | (187) | (187) |
| U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | 06/2026 | 201 | (23429) | (23429) | 668 | 668 | 16 | 16 | 0 | 0 |
|  |  |  |  |  |  | 2401 | $ | 16 | $ | (202) | (202) |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **(2224)** | **$** | **928** | **$** | **(202)** | **(202)** |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (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:** |
| **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 | 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 | Asset | Liability |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.650% | Annual | Annual | 09/11/2027 | 63600 | 103 | 103 | (97) | 6 | $0 | $(19) |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.325 | Annual | Annual | 08/31/2030 | 183455 | 595 | 595 | 1225 | 1820 | 0 | (182) |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.337 | Annual | Annual | 08/31/2030 | 2900 | 0 | 0 | 27 | 27 | 0 | (3) |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.369 | Annual | Annual | 08/31/2030 | 2900 | 0 | 0 | 24 | 24 | 0 | (3) |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.376 | Annual | Annual | 08/31/2030 | 9900 | 0 | 0 | 79 | 79 | 0 | (10) |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.407 | Annual | Annual | 08/31/2030 | 1100 | 0 | 0 | 8 | 8 | 0 | (1) |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.422 | Annual | Annual | 08/31/2030 | 1600 | 0 | 0 | 10 | 10 | 0 | (2) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 09/17/2030 | 5100 | (74) | (74) | 48 | (26) | 0 | (5) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 12/17/2032 | 9100 | (206) | (206) | 186 | (20) | 0 | (11) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **418** | **$** | **1510** | **$** | **0** | **(236)** |
| **(h)** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $1,545 and cash of $13,257 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| <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. |
| **(i)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **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 | 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; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | 04/2026 | 04/2026 | 04/2026 | CAD | 6978 | 6978 | $5094 | 5094 | 5094 | 78 | 78 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 04/2026 | 04/2026 | 04/2026 | BRL | 5 | 5 | 1 | 1 | 1 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | CNH | 1613 | 1613 | 234 | 234 | 234 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | EUR | 5305 | 5305 | 6179 | 6179 | 6179 | 47 | 47 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | INR | 49801 | 49801 | 530 | 530 | 530 | 4 | 4 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | KRW | 160407 | 160407 | 110 | 110 | 110 | 3 | 3 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | PLN | 1274 | 1274 | 344 | 344 | 344 | 1 | 1 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | $ | $1 | 1 | 5 | 5 | 5 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 80 | 80 | 551 | 551 | 551 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 530 | 530 | 49890 | 49890 | 49890 | 1 | 1 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 71 | 71 | 1302 | 1302 | 1302 | 2 | 2 | 0 |
|  |  |  | 06/2026 | 06/2026 | 06/2026 | BRL | 5 | 5 | $1 | 1 | 1 | 0 | 0 | 0 |
|  |  |  | 06/2026 | 06/2026 | 06/2026 | ILS | 1857 | 1857 | 601 | 601 | 601 | 9 | 9 | 0 |
|  |  |  | 06/2026 | 06/2026 | 06/2026 | MXN | 8236 | 8236 | 459 | 459 | 459 | 3 | 3 | 0 |
|  |  |  | 06/2026 | 06/2026 | 06/2026 | $ | $30 | 30 | 94 | 94 | 94 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 04/2026 | 04/2026 | 04/2026 | BRL | 3732 | 3732 | $715 | 715 | 715 | 0 | 0 | (5) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | CNH | 552 | 552 | 80 | 80 | 80 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | ILS | 1839 | 1839 | 596 | 596 | 596 | 11 | 11 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | KRW | 441931 | 441931 | 294 | 294 | 294 | 1 | 1 | (1) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | PLN | 472 | 472 | 127 | 127 | 127 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | THB | 56411 | 56411 | 1745 | 1745 | 1745 | 33 | 33 | (1) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | $ | $1150 | 1150 | 1651 | 1651 | 1651 | 0 | 0 | (10) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 715 | 715 | 3732 | 3732 | 3732 | 5 | 5 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 2834 | 2834 | 47961547 | 47961547 | 47961547 | 0 | 0 | (9) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 486 | 486 | 1538 | 1538 | 1538 | 4 | 4 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 330 | 330 | 492723 | 492723 | 492723 | 1 | 1 | (3) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 1471 | 1471 | 5301 | 5301 | 5301 | 0 | 0 | (43) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 1 | 1 | 30 | 30 | 30 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 1563 | 1563 | 49970 | 49970 | 49970 | 0 | 0 | (4) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | ZAR | 7440 | 7440 | $439 | 439 | 439 | 0 | 0 | 0 |
|  |  |  | 05/2026 | 05/2026 | 05/2026 | ILS | 1536 | 1536 | 486 | 486 | 486 | 0 | 0 | (4) |
|  |  |  | 05/2026 | 05/2026 | 05/2026 | INR | 125681 | 125681 | 1328 | 1328 | 1328 | 0 | 0 | (5) |
|  |  |  | 05/2026 | 05/2026 | 05/2026 | TWD | 28807 | 28807 | 894 | 894 | 894 | 0 | 0 | (4) |
|  |  |  | 05/2026 | 05/2026 | 05/2026 | $ | $520 | 520 | 2730 | 2730 | 2730 | 4 | 4 | 0 |
|  |  |  | 05/2026 | 05/2026 | 05/2026 |  | 665 | 665 | 11328048 | 11328048 | 11328048 | 2 | 2 | 0 |
|  |  |  | 05/2026 | 05/2026 | 05/2026 |  | 132 | 132 | 4333 | 4333 | 4333 | 0 | 0 | 0 |
|  |  |  | 06/2026 | 06/2026 | 06/2026 |  | 236 | 236 | 3972600 | 3972600 | 3972600 | 0 | 0 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 04/2026 | 04/2026 | 04/2026 |  | 842 | 842 | 3030 | 3030 | 3030 | 0 | 0 | (26) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 439 | 439 | 7182 | 7182 | 7182 | 0 | 0 | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | 04/2026 | 04/2026 | 04/2026 | JPY | 170934 | 170934 | $1071 | 1071 | 1071 | 0 | 0 | (6) |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 05/2026 | $1071 | 170419 | 6 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | 04/2026 | 551 | $80 | 0 | 0 |
|  | 04/2026 | 105 | 122 | 0 | 0 |
|  | 04/2026 | 380085 | 4067 | 53 | 0 |
|  | 04/2026 | 1235 | 127 | 0 | (1) |
|  | 04/2026 | 32 | 1 | 0 | 0 |
|  | 04/2026 | 2497 | 78 | 0 | 0 |
|  | 04/2026 | $6646 | 9458 | 0 | (121) |
|  | 04/2026 | 247 | 1701 | 0 | 0 |
|  | 04/2026 | 9880 | 910636 | 8 | (241) |
|  | 05/2026 | 0 | 4 | 0 | 0 |
|  | 06/2026 | 536 | $174 | 3 | 0 |
|  | 06/2026 | $170 | 2863503 | 0 | (2) |
|  | 06/2026 | 857 | 15219 | 0 | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | 04/2026 | 211 | $31 | 0 | 0 |
|  | 04/2026 | 3710 | 1199 | 18 | 0 |
|  | 04/2026 | 152247 | 1616 | 11 | (2) |
|  | 04/2026 | $3398 | 4953 | 20 | 0 |
|  | 04/2026 | 75 | 516 | 0 | 0 |
|  | 04/2026 | 1791 | 168757 | 12 | (9) |
|  | 04/2026 | 7200 | 9198 | 0 | (46) |
|  | 04/2026 | 573 | 18730 | 0 | (5) |
|  | 05/2026 | 4953 | $3396 | 0 | (20) |
|  | 05/2026 | 9177 | 7200 | 46 | 0 |
|  | 05/2026 | $31 | 211 | 0 | 0 |
|  | 06/2026 | 18692 | $573 | 3 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | 04/2026 | 6148 | 4357 | 115 | 0 |
|  | 04/2026 | 1336 | 1732 | 60 | 0 |
|  | 04/2026 | 2176 | 2915 | 35 | 0 |
|  | 04/2026 | 395 | 128 | 2 | 0 |
|  | 04/2026 | 212828 | 1334 | 0 | (8) |
|  | 04/2026 | 2150 | 1256 | 21 | 0 |
|  | 04/2026 | $980 | 781 | 0 | (3) |
|  | 04/2026 | 2928 | 2177 | 0 | (47) |
|  | 04/2026 | 425 | 66450 | 0 | (7) |
|  | 04/2026 | 1187 | 1987 | 0 | (46) |
|  | 04/2026 | 935 | 3374 | 0 | (26) |
|  | 04/2026 | 39 | 50 | 0 | 0 |
|  | 05/2026 | 778 | $980 | 3 | 0 |
|  | 05/2026 | 2555 | 807 | 0 | (6) |
|  | 05/2026 | 50 | 39 | 0 | 0 |
|  | 05/2026 | $2915 | 2176 | 0 | (35) |
|  | 05/2026 | 1333 | 212185 | 8 | 0 |
|  | 05/2026 | 1258 | 2150 | 0 | (21) |
|  | 06/2026 | 1322 | $429 | 8 | 0 |
|  | 06/2026 | $717 | 12488 | 0 | (24) |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | 04/2026 | 41152 | $7754 | 0 | (191) |
|  | 04/2026 | 1792 | 576 | 6 | 0 |
|  | 04/2026 | 5443 | 60 | 2 | 0 |
|  | 04/2026 | $7844 | 41152 | 101 | 0 |
|  | 04/2026 | 217 | 1487 | 0 | (1) |
|  | 04/2026 | 75 | 1260908 | 0 | 0 |
|  | 04/2026 | 1173 | 21496 | 25 | 0 |
|  | 04/2026 | 316 | 10363 | 0 | (1) |
|  | 05/2026 | 3 | 2 | 0 | 0 |
|  | 06/2026 | 16 | $3 | 0 | 0 |
|  | 06/2026 | 3525595 | 209 | 2 | 0 |
|  | 06/2026 | 1655 | 93 | 1 | 0 |
|  | 06/2026 | 10344 | 316 | 0 | 0 |
|  | 06/2026 | $7223 | 38896 | 188 | 0 |
|  | 06/2026 | 374 | 6326494 | 0 | (2) |
|  | 06/2026 | 3571 | 62274 | 0 | (118) |
|  | 07/2026 | 14 | $3 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; IND | 04/2026 | $6205 | 5255 | 0 | (131) |
|  | 04/2026 | 98 | 164 | 0 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | 04/2026 | 1327 | $192 | 0 | (1) |
|  | 04/2026 | 104 | 119 | 0 | (1) |
|  | 04/2026 | 78802 | 838 | 6 | 0 |
|  | 04/2026 | 2646 | 720 | 9 | (1) |
|  | 04/2026 | 9247 | 7338 | 145 | 0 |
|  | 04/2026 | $838 | 78937 | 2 | 0 |
|  | 04/2026 | 223 | 4109 | 6 | 0 |
|  | 04/2026 | 125 | 441 | 0 | (6) |
|  | 04/2026 | 1014 | 16926 | 0 | (15) |
|  | 04/2026 | 15329 | $902 | 1 | (3) |
|  | 05/2026 | $32 | 222 | 0 | 0 |
|  | 05/2026 | 12 | 1875 | 0 | 0 |
|  | 06/2026 | 1268 | $410 | 6 | 0 |
|  | 06/2026 | 9027 | 503 | 3 | 0 |
|  | 06/2026 | $106 | 328 | 0 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | 04/2026 | 3 | $4 | 0 | 0 |
|  | 04/2026 | 94848 | 593 | 0 | (4) |
|  | 04/2026 | 1031399 | 705 | 19 | 0 |
|  | 04/2026 | 20988 | 660 | 23 | 0 |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 | $ | $712 | 712 | CHF | 555 | 555 | 555 |  | 0 | 0 |  |  | (18) |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 471 | 471 | JPY | 73206 | 73206 | 73206 |  | 0 | 0 |  |  | (10) |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 178 | 178 | MXN | 3277 | 3277 | 3277 |  | 5 | 5 |  |  | 0 |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 126 | 126 | NOK | 1234 | 1234 | 1234 |  | 1 | 1 |  |  | 0 |
|  |  |  |  | 05/2026 | 05/2026 | 05/2026 | NOK | 1234 | 1234 | $ | 126 | 126 | 126 |  | 0 | 0 |  |  | (1) |
|  |  |  |  | 05/2026 | 05/2026 | 05/2026 | $ | $20 | 20 | GBP | 15 | 15 | 15 |  | 0 | 0 |  |  | 0 |
|  |  |  |  | 05/2026 | 05/2026 | 05/2026 |  | 593 | 593 | JPY | 94562 | 94562 | 94562 |  | 4 | 4 |  |  | 0 |
|  |  |  |  | 06/2026 | 06/2026 | 06/2026 | MXN | 1100 | 1100 | $ | 61 | 61 | 61 |  | 0 | 0 |  |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | 04/2026 | 04/2026 | 04/2026 | PLN | 248 | 248 |  | 70 | 70 | 70 |  | 3 | 3 |  |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 04/2026 | 04/2026 | 04/2026 | THB | 1572 | 1572 |  | 49 | 49 | 49 |  | 2 | 2 |  |  | 0 |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 | $ | $5046 | 5046 | CAD | 6986 | 6986 | 6986 |  | 0 | 0 |  |  | (24) |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 23 | 23 | GBP | 17 | 17 | 17 |  | 0 | 0 |  |  | 0 |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 1010 | 1010 | INR | 92004 | 92004 | 92004 |  | 0 | 0 |  |  | (39) |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 335 | 335 | JPY | 52260 | 52260 | 52260 |  | 0 | 0 |  |  | (6) |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 259 | 259 | PLN | 938 | 938 | 938 |  | 0 | 0 |  |  | (7) |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 188 | 188 | TWD | 5998 | 5998 | 5998 |  | 0 | 0 |  |  | (1) |
|  |  |  |  | 05/2026 | 05/2026 | 05/2026 | CAD | 6977 | 6977 | $ | 5046 | 5046 | 5046 |  | 24 | 24 |  |  | 0 |
|  |  |  |  | 06/2026 | 06/2026 | 06/2026 | $ | $618 | 618 | IDR | 10413877 | 10413877 | 10413877 |  | 0 | 0 |  |  | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | 04/2026 | 04/2026 | 04/2026 |  | 299 | 299 | EUR | 259 | 259 | 259 |  | 1 | 1 |  |  | 0 |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 1852 | 1852 | JPY | 288245 | 288245 | 288245 |  | 0 | 0 |  |  | (36) |
|  |  |  |  | 05/2026 | 05/2026 | 05/2026 | EUR | 259 | 259 | $ | 299 | 299 | 299 |  | 0 | 0 |  |  | 0 |
|  |  |  |  | 06/2026 | 06/2026 | 06/2026 | ILS | 917 | 917 |  | 297 | 297 | 297 |  | 5 | 5 |  |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | 04/2026 | 04/2026 | 04/2026 | AUD | 9914 | 9914 |  | 7055 | 7055 | 7055 |  | 215 | 215 |  |  | 0 |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 | $ | $187 | 187 | INR | 17031 | 17031 | 17031 |  | 0 | 0 |  |  | (7) |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 2 | 2 | JPY | 338 | 338 | 338 |  | 0 | 0 |  |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | 04/2026 | 04/2026 | 04/2026 | PLN | 1285 | 1285 | $ | 349 | 349 | 349 |  | 3 | 3 |  |  | 0 |
|  |  |  |  | 04/2026 | 04/2026 | 04/2026 | $ | $1147 | 1147 | PLN | 4156 | 4156 | 4156 |  | 0 | 0 |  |  | (28) |
|  |  |  |  | 06/2026 | 06/2026 | 06/2026 | ILS | 1500 | 1500 | $ | 485 | 485 | 485 |  | 7 | 7 |  |  | 0 |
|  |  |  |  | 06/2026 | 06/2026 | 06/2026 | MXN | 1402 | 1402 |  | 78 | 78 | 78 |  | 0 | 0 |  |  | 0 |
|  |  |  |  | 06/2026 | 06/2026 | 06/2026 | $ | $765 | 765 | MXN | 13352 | 13352 | 13352 |  | 0 | 0 |  |  | (25) |
| **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** | $**1456** | **1456** | **1456** | **$** | $**(1508)** | **(1508)** |
| **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** |
| Counterparty | Counterparty | Counterparty | 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 | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> | Cost | Cost |  | Market<br>Value |
| BPS | BPS | BPS | 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 | 2000 | 2000 | 2000 | 1 | 1 | $ | 2 |
| DUB | DUB | DUB | 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 | 95000 | 95000 | 95000 | 98 | 98 |  | 258 |
| FAR | FAR | FAR | 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 | 3.000 | 3.000 | 3.000 | 08/03/2026 | 82300 | 82300 | 82300 | 74 | 74 |  | 56 |
|  |  |  | 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 | 256000 | 256000 | 256000 | 117 | 117 |  | 271 |
| GLM | GLM | GLM | 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 | 3.000 | 3.000 | 3.000 | 07/28/2026 | 54200 | 54200 | 54200 | 41 | 41 |  | 34 |
|  |  |  | 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 | 3.000 | 3.000 | 3.000 | 08/11/2026 | 95100 | 95100 | 95100 | 106 | 106 |  | 70 |
| MYC | MYC | MYC | 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 | 3.000 | 3.000 | 3.000 | 08/03/2026 | 97800 | 97800 | 97800 | 88 | 88 |  | 66 |
|  |  |  | 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 | 3.000 | 3.000 | 3.000 | 08/11/2026 | 104300 | 104300 | 104300 | 117 | 117 |  | 76 |
|  |  |  | 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 | 15900 | 15900 | 15900 | 16 | 16 |  | 43 |
| NGF | NGF | NGF | 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 | 3.000 | 3.000 | 3.000 | 07/28/2026 | 201500 | 201500 | 201500 | 141 | 141 |  | 128 |
|  |  |  | 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 | 3.000 | 3.000 | 3.000 | 08/03/2026 | 11700 | 11700 | 11700 | 10 | 10 |  | 8 |
|  |  |  | 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 | 165900 | 165900 | 165900 | 176 | 176 |  | 450 |
| **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** | **985** | **985** | **$** | **1462** |
| **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 SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY 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 | Reference Entity | Reference Entity | Reference Entity | Fixed<br>(Pay) Rate | Fixed<br>(Pay) Rate | Payment<br>Frequency | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<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 |
| MYC | MYC | South Korea Government International Bonds | South Korea Government International Bonds | South Korea Government International Bonds | South Korea Government International Bonds | (1.000)% | (1.000)% | Quarterly | 0.324% | 0.324% | 0.324% | $7100 | $ | (279) | (279) | $68 | $0 | 0 | $(211) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **(279)** | **(279)** | $**68** | $**0** | **0** | $**(211)** |
| **(j)** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $557 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Enhanced Low Duration Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <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. |
| <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. |
| <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. |
| <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. |
| <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. |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **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 | $359063 | $1990 | $361053 |
| Industrials | Industrials | 0 | 236931 | 0 | 236931 |
| Utilities | Utilities | 0 | 63500 | 0 | 63500 |
| U.S. Government Agencies | U.S. Government Agencies | 0 | 431153 | 0 | 431153 |
| U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 2905 | 0 | 2905 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 51465 | 0 | 51465 |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| Automobile ABS Other | Automobile ABS Other | 0 | 2369 | 0 | 2369 |
| Automobile Sequential | Automobile Sequential | 0 | 72607 | 0 | 72607 |
| CMBS Other | CMBS Other | 0 | 3706 | 0 | 3706 |
| Credit Card Bullet | Credit Card Bullet | 0 | 13387 | 0 | 13387 |
| Credit Card Other | Credit Card Other | 0 | 4319 | 0 | 4319 |
| Home Equity Other | Home Equity Other | 0 | 4449 | 0 | 4449 |
| Whole Loan Collateral | Whole Loan Collateral | 0 | 719 | 0 | 719 |
| Other ABS | Other ABS | 0 | 204432 | 0 | 204432 |
| Sovereign Issues | Sovereign Issues | 0 | 28787 | 0 | 28787 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Commercial Paper | Commercial Paper | 12888 | 59393 | 0 | 72281 |
| Repurchase Agreements | Repurchase Agreements | 0 | 4600 | 0 | 4600 |
| Short-Term Notes | Short-Term Notes | 0 | 3075 | 0 | 3075 |
| U.S. Treasury Bills | U.S. Treasury Bills | 0 | 2127 | 0 | 2127 |
| Total Investments | Total Investments | $12888 | $1548987 | $1990 | $1563865 |
| **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 | 0 | 928 | 0 | 928 |
| Over the counter | Over the counter | 0 | 2918 | 0 | 2918 |
|  |  | $0 | $3846 | $0 | $3846 |
| **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 | 0 | (438) | 0 | (438) |
| Over the counter | Over the counter | 0 | (1719) | 0 | (1719) |
|  |  | $0 | $(2157) | $0 | $(2157) |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | $1689 | $0 | $1689 |
| Totals | Totals | $12888 | $1550676 | $1990 | $1565554 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund March 31, 2026 (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 99.7% ¤** |  |  |
| **CORPORATE BONDS & NOTES 40.0%** |  |  |
| **BANKING & FINANCE 27.5%** |  |  |
| **ABN AMRO Bank NV**<br>4.653% (SOFRINDX + 1.000%) due 12/03/2028 ~ | $400 | $402 |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**<br>2.450% due 10/29/2026 | 1000 | 989 |
| **Aircastle Ltd.**<br>4.250% due 06/15/2026 | 793 | 792 |
| **Alexandria Real Estate Equities, Inc.**<br>3.800% due 04/15/2026 | 3080 | 3079 |
| **Allstate Corp.**<br>3.280% due 12/15/2026 | 180 | 179 |
| **American Honda Finance Corp.** |  |  |
| 4.390% due 08/13/2027 •  | 900 | 899 |
| 4.900% due 03/12/2027 | 1709 | 1715 |
| 5.250% due 07/07/2026 | 200 | 200 |
| **American Tower Corp.** |  |  |
| 1.600% due 04/15/2026 | 187 | 187 |
| 3.375% due 10/15/2026 | 142 | 141 |
| 3.650% due 03/15/2027 | 1682 | 1670 |
| **Aon North America, Inc.**<br>5.125% due 03/01/2027 | 2375 | 2388 |
| **Athene Global Funding**<br>4.500% (SOFRINDX + 0.830%) due 01/07/2027 ~ | 1200 | 1200 |
| **Bank of America NA**<br>4.680% (SOFRRATE + 1.020%) due 08/18/2026 ~ | 1400 | 1403 |
| **Bank of New York Mellon**<br>4.587% due 04/20/2027 •  | 500 | 500 |
| **Bank of Nova Scotia**<br>4.299% due 03/20/2028 | 1000 | 1006 |
| **Barclays PLC** |  |  |
| 2.279% due 11/24/2027 •  | 1000 | 985 |
| 5.674% due 03/12/2028 •  | 1000 | 1010 |
| **BNP Paribas SA**<br>2.591% due 01/20/2028 •  | 300 | 295 |
| **BPCE SA** |  |  |
| 2.045% due 10/19/2027 •  | 2000 | 1972 |
| 3.500% due 10/23/2027 | 1000 | 985 |
| **Crown Castle, Inc.**<br>3.700% due 06/15/2026 | 2092 | 2089 |
| **Deutsche Bank AG**<br>7.146% due 07/13/2027 •  | 1000 | 1007 |
| **Equitable Financial Life Global Funding**<br>1.300% due 07/12/2026 | 2142 | 2125 |
| **Ford Motor Credit Co. LLC** |  |  |
| 4.271% due 01/09/2027 | 400 | 398 |
| 4.542% due 08/01/2026 | 100 | 100 |
| 5.800% due 03/05/2027 | 500 | 503 |
| 5.850% due 05/17/2027 | 1538 | 1550 |
| **Goldman Sachs Group, Inc.** |  |  |
| 1.948% due 10/21/2027 •  | 1200 | 1184 |
| 2.640% due 02/24/2028 •  | 1000 | 984 |
| **Guardian Life Global Funding**<br>1.250% due 05/13/2026 | 1000 | 997 |
| **HAT Holdings I LLC/HAT Holdings II LLC**<br>3.375% due 06/15/2026 | 2330 | 2322 |
| **HSBC Holdings PLC**<br>4.041% due 03/13/2028 •  | 700 | 697 |
| **JPMorgan Chase & Co.** |  |  |
| 1.578% due 04/22/2027 •  | 2100 | 2097 |
| 2.947% due 02/24/2028 •  | 500 | 494 |
| **Mizuho Financial Group, Inc.**<br>1.234% due 05/22/2027 •  | 500 | 498 |
| **NatWest Markets PLC**<br>4.560% (SOFRRATE + 0.900%) due 05/17/2027 ~ | 500 | 502 |
| **Neuberger Berman Group LLC/Neuberger Berman Finance Corp.**<br>4.500% due 03/15/2027 | 1750 | 1745 |
| **New York Life Global Funding**<br>4.234% (SOFRRATE + 0.580%) due 08/28/2026 ~ | 150 | 150 |
| **Norinchukin Bank** |  |  |
| 1.284% due 09/22/2026 | 2100 | 2069 |
| 4.867% due 09/14/2027 | 1000 | 1005 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Protective Life Global Funding** |  |  |
| 4.166% (SOFRRATE + 0.500%) due 07/22/2026 ~ | 400 | 400 |
| 4.368% due 04/10/2026 •  | 400 | 400 |
| **Reliance Standard Life Global Funding II**<br>1.512% due 09/28/2026 | 948 | 934 |
| **Royal Bank of Canada**<br>5.069% due 07/23/2027 •  | 500 | 501 |
| **Santander U.K. Group Holdings PLC**<br>2.469% due 01/11/2028 •  | 1000 | 984 |
| **Societe Generale SA**<br>5.250% due 02/19/2027 | 600 | 604 |
| **Standard Chartered PLC**<br>6.187% due 07/06/2027 •  | 500 | 502 |
| **Stellantis Finance U.S., Inc.**<br>1.711% due 01/29/2027 | 1000 | 975 |
| **Toronto-Dominion Bank**<br>4.248% (SOFRRATE + 0.580%) due 01/13/2028 ~ | 1000 | 1002 |
| **U.S. Bank NA**<br>4.507% due 10/22/2027 •  | 1000 | 1001 |
| **UBS Group AG**<br>1.494% due 08/10/2027 •  | 1000 | 989 |
| **UniCredit SpA**<br>1.982% due 06/03/2027 •  | 1000 | 995 |
| **WEA Finance LLC**<br>2.875% due 01/15/2027 | 1000 | 988 |
| **Wells Fargo & Co.**<br>3.526% due 03/24/2028 •  | 500 | 496 |
| **Weyerhaeuser Co.** |  |  |
| 4.750% due 05/15/2026 | 1912 | 1913 |
| 7.350% due 07/01/2026 | 1000 | 1006 |
|  |  | 58203 |
| **INDUSTRIALS 11.0%** |  |  |
| **Algonquin Power & Utilities Corp.**<br>5.365% due 06/15/2026 þ | 635 | 636 |
| **Amazon.com, Inc.**<br>4.088% (SOFRRATE + 0.440%) due 03/13/2028 ~ | 1000 | 1000 |
| **Berry Global, Inc.** |  |  |
| 1.650% due 01/15/2027 | 215 | 211 |
| 4.875% due 07/15/2026 | 893 | 893 |
| **BMW U.S. Capital LLC**<br>5.050% due 04/02/2026 | 200 | 200 |
| **Chanel Ceres PLC**<br>0.500% due 07/31/2026 | 1500 | 1720 |
| **Conagra Brands, Inc.**<br>5.300% due 10/01/2026 | $2000 | 2009 |
| **Denso Corp.**<br>1.239% due 09/16/2026 | 222 | 219 |
| **Element Fleet Management Corp.**<br>5.643% due 03/13/2027 | 1200 | 1210 |
| **Fidelity National Information Services, Inc.**<br>4.450% due 03/10/2028 | 500 | 499 |
| **Fiserv, Inc.**<br>3.200% due 07/01/2026 | 104 | 104 |
| **Fresenius Medical Care U.S. Finance III, Inc.**<br>1.875% due 12/01/2026 | 1500 | 1471 |
| **Global Payments, Inc.**<br>4.800% due 04/01/2026 | 612 | 612 |
| **HCA, Inc.**<br>4.500% due 02/15/2027 | 500 | 500 |
| **Hyundai Capital America**<br>4.590% (SOFRRATE + 0.920%) due 01/07/2028 ~ | 1000 | 995 |
| **Illumina, Inc.**<br>4.650% due 09/09/2026 | 1000 | 1000 |
| **JDE Peet's NV**<br>1.375% due 01/15/2027 | 2404 | 2345 |
| **Kraft Heinz Foods Co.** |  |  |
| 3.000% due 06/01/2026 | 1823 | 1819 |
| 3.875% due 05/15/2027 | 100 | 99 |
| **NTT Finance Corp.**<br>4.567% due 07/16/2027 | 500 | 501 |
| **Pennsylvania-American Water Co.**<br>7.800% due 09/01/2026 | 1000 | 1013 |
| **Renesas Electronics Corp.**<br>2.170% due 11/25/2026 | 814 | 802 |
| **Sydney Airport Finance Co. Pty. Ltd.**<br>3.625% due 04/28/2026 | 200 | 200 |
| **Synopsys, Inc.**<br>4.550% due 04/01/2027 | 500 | 500 |
| **TD SYNNEX Corp.**<br>1.750% due 08/09/2026 | 178 | 176 |
| **Telefonica Emisiones SA**<br>4.103% due 03/08/2027 | 2000 | 1992 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Thomson Reuters Corp.**<br>3.350% due 05/15/2026 | 500 | 499 |
|  |  | 23225 |
| **UTILITIES 1.5%** |  |  |
| **Eversource Energy** |  |  |
| 2.900% due 03/01/2027 | 1000 | 987 |
| 5.000% due 01/01/2027 | 1200 | 1204 |
| **KeySpan Gas East Corp.**<br>2.742% due 08/15/2026 | 940 | 934 |
|  |  | 3125 |
| Total Corporate Bonds & Notes (Cost $84,405) |  | 84553 |
| **U.S. GOVERNMENT AGENCIES 15.3%** |  |  |
| **Federal Home Loan Mortgage Corp.**<br>2.500% due 10/01/2029 | 2354 | 2323 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates**<br>4.219% due 08/25/2027 •  | 143 | 143 |
| **Federal Home Loan Mortgage Corp. REMICS** |  |  |
| 4.387% due 01/15/2054 •  | 378 | 376 |
| 4.562% due 09/25/2054 - 03/25/2055 •  | 1310 | 1317 |
| 4.602% due 11/25/2054 •  | 2239 | 2253 |
| 4.612% due 03/25/2055 - 04/25/2055 •  | 1533 | 1546 |
| 4.662% due 02/25/2055 - 08/25/2055 •  | 2171 | 2190 |
| 4.812% due 11/25/2054 - 01/25/2055 •  | 1339 | 1348 |
| 4.862% due 01/25/2055 - 02/25/2055 •  | 325 | 328 |
| 4.912% due 05/25/2054 •  | 434 | 439 |
| 4.962% due 03/25/2055 •  | 429 | 432 |
| **Federal National Mortgage Association** |  |  |
| 2.500% due 06/01/2029 | 2921 | 2882 |
| 3.500% due 01/01/2028 | 431 | 428 |
| 4.960% due 07/01/2028 | 1489 | 1514 |
| **Federal National Mortgage Association REMICS** |  |  |
| 4.146% due 08/25/2044 •  | 498 | 493 |
| 4.276% due 05/25/2046 •  | 173 | 171 |
| 4.562% due 09/25/2054 •  | 2141 | 2149 |
| 4.612% due 11/25/2053 - 03/25/2055 •  | 655 | 660 |
| 4.662% due 05/25/2055 •  | 222 | 224 |
| 4.712% due 05/25/2055 •  | 182 | 184 |
| 4.762% due 06/25/2054 - 01/25/2055 •  | 1015 | 1021 |
| 4.862% due 12/25/2053 - 02/25/2055 •  | 574 | 579 |
| 4.912% due 02/25/2055 •  | 126 | 127 |
| **Federal National Mortgage Association-ACES** |  |  |
| 2.560% due 12/25/2026 ~ | 1930 | 1909 |
| 2.961% due 02/25/2027 ~ | 730 | 723 |
| **Government National Mortgage Association REMICS** |  |  |
| 3.000% due 06/20/2051 •  | 926 | 812 |
| 4.298% due 10/20/2062 •  | 182 | 182 |
| 4.373% due 08/20/2075 •  | 1468 | 1468 |
| 4.403% due 02/20/2073 •  | 695 | 696 |
| 4.433% due 02/20/2064 •  | 590 | 591 |
| 4.506% due 03/20/2067 •  | 539 | 543 |
| 4.523% due 04/20/2054 •  | 867 | 868 |
| 4.594% due 11/20/2066 •  | 227 | 229 |
| 4.623% due 12/20/2055 •  | 987 | 990 |
| 4.773% due 05/20/2073 •  | 229 | 232 |
| Total U.S. Government Agencies (Cost $32,402) |  | 32370 |
| **U.S. TREASURY OBLIGATIONS 4.4%** |  |  |
| **U.S. Treasury Notes** |  |  |
| 3.375% due 02/29/2028 | 5600 | 5556 |
| 3.500% due 09/30/2027 | 2300 | 2289 |
| 3.500% due 10/15/2028 | 1500 | 1489 |
| Total U.S. Treasury Obligations (Cost $9,344) |  | 9334 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 1.4%** |  |  |
| **Government National Mortgage Association REMICS** |  |  |
| 4.443% due 09/20/2075 •  | 993 | 1002 |
| 4.453% due 10/20/2075 •  | 991 | 1000 |
| **OBX Trust** |  |  |
| 2.305% due 11/25/2061 ~ | 484 | 439 |
| 3.783% due 01/25/2062 þ | 360 | 349 |
| **Starwood Mortgage Residential Trust**<br>1.027% due 11/25/2055 ~ | 55 | 53 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Towd Point Mortgage Trust**<br>3.750% due 05/25/2058 ~ | 165 | 163 |
| Total Non-Agency Mortgage-Backed Securities (Cost $3,061) |  | 3006 |
| **ASSET-BACKED SECURITIES 9.3%** |  |  |
| **AUTOMOBILE ABS OTHER 0.7%** |  |  |
| **Nissan Auto Lease Trust**<br>4.122% due 05/15/2028 •  | 1000 | 1000 |
| **Toyota Lease Owner Trust**<br>4.083% due 07/20/2027 •  | 492 | 492 |
|  |  | 1492 |
| **AUTOMOBILE SEQUENTIAL 2.7%** |  |  |
| **ARI Fleet Lease Trust**<br>5.540% due 04/15/2033 | 371 | 374 |
| **BMW Canada Auto Trust**<br>4.844% due 07/20/2027 | 106 | 76 |
| **BMW Vehicle Owner Trust**<br>5.470% due 02/25/2028 | $289 | 291 |
| **Capital One Prime Auto Receivables Trust**<br>5.820% due 06/15/2028 | 110 | 111 |
| **Carvana Auto Receivables Trust**<br>5.620% due 01/10/2029 | 414 | 416 |
| **Chase Auto Owner Trust**<br>5.680% due 01/25/2029 | 809 | 816 |
| **Enterprise Fleet Financing LLC**<br>5.740% due 12/20/2026 | 102 | 102 |
| **Ford Auto Securitization Trust**<br>5.053% due 07/15/2028 | 238 | 173 |
| **LAD Auto Receivables Trust**<br>5.610% due 08/15/2028 | $209 | 210 |
| **Mercedes-Benz Auto Receivables Trust**<br>4.800% due 04/16/2029 | 1011 | 1016 |
| **Tesla Lease Electric Vehicle Securitization LLC**<br>4.140% due 06/20/2028 | 1282 | 1282 |
| **Toyota Auto Receivables Owner Trust**<br>5.330% due 01/16/2029 | 827 | 835 |
|  |  | 5702 |
| **CREDIT CARD OTHER 0.8%** |  |  |
| **Golden Credit Card Trust**<br>1.140% due 08/15/2028 | 800 | 791 |
| **Trillium Credit Card Trust II**<br>4.225% due 09/26/2030 •  | 1000 | 1005 |
|  |  | 1796 |
| **OTHER ABS 5.1%** |  |  |
| **Apidos CLO XI**<br>4.908% due 04/17/2034 •  | 600 | 601 |
| **College Avenue Student Loans LLC**<br>4.993% due 12/26/2047 •  | 328 | 329 |
| **Commonbond Student Loan Trust** |  |  |
| 1.980% due 08/25/2050 | 799 | 718 |
| 3.560% due 09/25/2045 | 340 | 327 |
| **Crown Point CLO 7 Ltd.**<br>4.898% due 10/20/2031 •  | 23 | 23 |
| **DLLAA LLC**<br>4.700% due 10/20/2027 | 441 | 442 |
| **Fortress Credit BSL X Ltd.**<br>4.768% due 04/20/2033 •  | 711 | 712 |
| **GreatAmerica Leasing Receivables Funding LLC**<br>5.280% due 03/15/2027 | 261 | 262 |
| **HPEFS Equipment Trust**<br>4.070% due 11/22/2032 | 1200 | 1200 |
| **Kubota Credit Owner Trust**<br>5.450% due 04/15/2027 | 90 | 90 |
| **Mountain View CLO LLC**<br>4.547% due 04/14/2033 •  | 1000 | 999 |
| **Navient Private Education Refi Loan Trust** |  |  |
| 1.060% due 10/15/2069 | 596 | 542 |
| 1.310% due 01/15/2069 | 65 | 62 |
| 2.400% due 10/15/2068 | 57 | 56 |
| 2.600% due 08/15/2068 | 408 | 395 |
| 2.640% due 05/15/2068 | 76 | 75 |
| 3.130% due 02/15/2068 | 229 | 226 |
| 4.787% due 04/15/2069 •  | 144 | 144 |
| **Navient Refinance Loan Trust**<br>4.800% due 10/15/2055 | 444 | 442 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Nelnet Student Loan Trust**<br>4.973% due 02/21/2061 •  |  | 959 | 964 |
| **Northwoods Capital XIV-B Ltd.**<br>4.883% due 11/13/2031 •  |  | 434 | 434 |
| **SMB Private Education Loan Trust** |  |  |  |
| 1.600% due 09/15/2054 |  | 357 | 339 |
| 4.587% due 01/15/2053 •  |  | 485 | 482 |
| 5.380% due 01/15/2053 |  | 443 | 447 |
| **Voya CLO Ltd.**<br>4.868% due 07/20/2032 •  |  | 462 | 461 |
|  |  |  | 10772 |
| Total Asset-Backed Securities (Cost $19,894) |  |  | 19762 |
| **SHORT-TERM INSTRUMENTS 29.3%** |  |  |  |
| **CERTIFICATES OF DEPOSIT 0.7%** |  |  |  |
| **Banco Itau Chile**<br>4.150% due 08/12/2026 |  | 1500 | 1499 |
| **COMMERCIAL PAPER 16.9%** |  |  |  |
| **Air Lease Corp.** |  |  |  |
| 4.320% due 04/02/2026 |  | 500 | 500 |
| 4.350% due 04/14/2026 |  | 600 | 599 |
| 4.400% due 04/14/2026 |  | 900 | 899 |
| 4.400% due 04/16/2026 |  | 800 | 799 |
| **CBRE Services, Inc.**<br>4.100% due 04/08/2026 |  | 3000 | 2997 |
| **Constellation Energy Generation LLC** |  |  |  |
| 3.870% due 04/01/2026 |  | 1000 | 1000 |
| 3.870% due 04/02/2026 |  | 1000 | 1000 |
| **Crown Castle, Inc.**<br>4.200% due 04/16/2026 |  | 400 | 399 |
| **Elevance Health, Inc.** |  |  |  |
| 4.050% due 04/01/2026 |  | 800 | 800 |
| 4.050% due 04/13/2026 |  | 1200 | 1198 |
| **ERAC USA Finance LLC** |  |  |  |
| 4.130% due 04/13/2026 |  | 300 | 300 |
| 4.150% due 04/09/2026 |  | 300 | 300 |
| 4.150% due 04/10/2026 |  | 300 | 300 |
| 4.170% due 04/20/2026 |  | 2200 | 2195 |
| **Fidelity National Information Services, Inc.** |  |  |  |
| 4.150% due 04/17/2026 |  | 300 | 299 |
| 4.150% due 04/20/2026 |  | 2000 | 1996 |
| **Global Payments, Inc.** |  |  |  |
| 4.200% due 04/06/2026 |  | 1000 | 999 |
| 4.220% due 04/06/2026 |  | 1400 | 1399 |
| 4.220% due 04/07/2026 |  | 700 | 699 |
| **Harley-Davidson Financial Services, Inc.** |  |  |  |
| 4.170% due 04/07/2026 |  | 800 | 799 |
| 4.170% due 04/08/2026 |  | 600 | 599 |
| 4.170% due 04/16/2026 |  | 300 | 299 |
| 4.180% due 04/16/2026 |  | 400 | 399 |
| **HCA, Inc.** |  |  |  |
| 4.200% due 05/11/2026 |  | 800 | 796 |
| 4.250% due 05/13/2026 |  | 1000 | 995 |
| 4.350% due 04/23/2026 |  | 800 | 798 |
| 4.350% due 05/01/2026 |  | 300 | 299 |
| **Jabil, Inc.** |  |  |  |
| 4.050% due 04/08/2026 |  | 700 | 699 |
| 4.050% due 04/16/2026 |  | 500 | 499 |
| 4.150% due 05/13/2026 |  | 1800 | 1790 |
| **Keurig Dr. Pepper, Inc.** |  |  |  |
| 4.350% due 05/08/2026 |  | 2000 | 1991 |
| 4.380% due 05/07/2026 |  | 1200 | 1195 |
| **NextEra Energy Capital Holdings, Inc.**<br>4.020% due 04/20/2026 |  | 1300 | 1297 |
| **ONEOK, Inc.**<br>4.150% due 04/10/2026 |  | 900 | 899 |
| **S&P Global, Inc.**<br>4.100% due 04/01/2026 |  | 3000 | 3000 |
| **TELUS Corp.**<br>4.050% due 05/20/2026 |  | 800 | 795 |
|  |  |  | 35827 |
| **REPURCHASE AGREEMENTS (c) 8.8%** |  |  | 18600 |
| **JAPAN TREASURY BILLS 2.9%** |  |  |  |
| 0.740% due 05/07/2026 (a)(b) | JPY | 971800 | 6119 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | |
|:---|:---|
| Total Short-Term Instruments (Cost $62,175) | 62045 |
| Total Investments in Securities (Cost $211,281) | 211070 |
| Total Investments 99.7% (Cost $211,281) | $211070 |
| **Financial Derivative Instruments** **(d)** **0.1**%(Cost or Premiums, net $0) | 249 |
| Other Assets and Liabilities, net 0.2% | 305 |
| Net Assets 100.0% | $211624 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund(Cont.) March 31, 2026 (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.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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)** | **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.** |
| **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:** |
| Counterparty | Lending<br>Rate | Maturity<br>Date | Maturity<br>Date | Principal<br>Amount | 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>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| JPS | 3.700% | 04/01/2026 | 04/01/2026 | 18600 | 18600 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 02/28/2030 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 02/28/2030 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 02/28/2030 | $(19022) | $18600 | 18600 | $18602 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  | $**(19022)** | $**18600** | **18600** | $**18602** |
| <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. |
| **(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** |
| **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> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | 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 | Asset | Asset | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 04/2026 | CAD | 536 | 536 | 536 | $392 | 392 | 7 | 7 | $0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 04/2026 | GBP | 1995 | 1995 | 1995 | 2698 | 2698 | 58 | 58 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 04/2026 | $ | $2761 | 2761 | 2761 | 2059 | 2059 | 0 | 0 | (36) | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 04/2026 | GBP | 59 | 59 | 59 | $78 | 78 | 0 | 0 | 0 | 0 |
|  |  | 04/2026 | $ | $388 | 388 | 388 | 537 | 537 | 0 | 0 | (2) | (2) |
|  |  | 05/2026 | CAD | 536 | 536 | 536 | $388 | 388 | 2 | 2 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | 04/2026 | EUR | 1452 | 1452 | 1452 | 1719 | 1719 | 40 | 40 | 0 | 0 |
|  |  | 04/2026 | $ | $1676 | 1676 | 1676 | 1452 | 1452 | 3 | 3 | 0 | 0 |
|  |  | 05/2026 | EUR | 1452 | 1452 | 1452 | $1678 | 1678 | 0 | 0 | (3) | (3) |
|  |  | 05/2026 | JPY | 971800 | 971800 | 971800 | 6322 | 6322 | 180 | 180 | 0 | 0 |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | **290** | **$** | **(41)** | **(41)** |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 | Fair Value<br>at 03/31/2026 |  |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | Banking & Finance | Banking & Finance | $ | $0 | 0 | 58203 | 0 | $58203 | 58203 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials |  | 0 | 0 | 23225 | 0 | 23225 | 23225 |  |
| Utilities | Utilities | Utilities | Utilities | Utilities |  | 0 | 0 | 3125 | 0 | 3125 | 3125 |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies |  | 0 | 0 | 32370 | 0 | 32370 | 32370 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations |  | 0 | 0 | 9334 | 0 | 9334 | 9334 |  |
| 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 | 3006 | 0 | 3006 | 3006 |  |
| 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 |  | 0 | 0 | 1492 | 0 | 1492 | 1492 |  |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential |  | 0 | 0 | 5702 | 0 | 5702 | 5702 |  |
| Credit Card Other | Credit Card Other | Credit Card Other | Credit Card Other | Credit Card Other |  | 0 | 0 | 1796 | 0 | 1796 | 1796 |  |
| Other ABS | Other ABS | Other ABS | Other ABS | Other ABS |  | 0 | 0 | 10772 | 0 | 10772 | 10772 |  |
| 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 |  |
| Certificates of Deposit | Certificates of Deposit | Certificates of Deposit | Certificates of Deposit | Certificates of Deposit |  | 0 | 0 | 1499 | 0 | 1499 | 1499 |  |
| Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper |  | 0 | 0 | 35827 | 0 | 35827 | 35827 |  |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements |  | 0 | 0 | 18600 | 0 | 18600 | 18600 |  |
| Japan Treasury Bills | Japan Treasury Bills | Japan Treasury Bills | Japan Treasury Bills | Japan Treasury Bills |  | 0 | 0 | 6119 | 0 | 6119 | 6119 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $ | $0 | 0 | 211070 | 0 | $211070 | 211070 |  |
| **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** |  |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Over the counter | $0 | $290 | $0 | $290 |
| **Financial Derivative Instruments - Liabilities** | **Financial Derivative Instruments - Liabilities** | **Financial Derivative Instruments - Liabilities** | **Financial Derivative Instruments - Liabilities** | **Financial Derivative Instruments - Liabilities** |
| Over the counter | $0 | $(41) | $0 | $(41) |
| Total Financial Derivative Instruments | $0 | $249 | $0 | $249 |
| Totals | $0 | $211319 | $0 | $211319 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund March 31, 2026 (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 100.6% ¤** |  |  |
| **CORPORATE BONDS & NOTES 56.0%** |  |  |
| **BANKING & FINANCE 37.6%** |  |  |
| **ABN AMRO Bank NV** |  |  |
| 4.429% (SOFRINDX + 0.750%) due 07/07/2028 ~ | $2000 | $1998 |
| 4.653% (SOFRINDX + 1.000%) due 12/03/2028 ~ | 34300 | 34442 |
| 5.427% due 09/18/2027 •  | 95095 | 95604 |
| 6.339% due 09/18/2027 •  | 17700 | 17852 |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** |  |  |
| 2.450% due 10/29/2026 | 126388 | 125016 |
| 3.875% due 01/23/2028 | 510 | 505 |
| 6.100% due 01/15/2027 | 5166 | 5223 |
| 6.450% due 04/15/2027 | 5691 | 5799 |
| **Air Lease Corp.** |  |  |
| 1.875% due 08/15/2026 | 141369 | 139945 |
| 3.625% due 04/01/2027 | 1270 | 1252 |
| 3.750% due 06/01/2026 | 1230 | 1228 |
| 5.300% due 06/25/2026 | 15387 | 15415 |
| **Aircastle Ltd.**<br>4.250% due 06/15/2026 | 15857 | 15838 |
| **American Express Co.** |  |  |
| 4.312% (SOFRINDX + 0.650%) due 11/04/2026 ~ | 20038 | 20074 |
| 4.416% (SOFRRATE + 0.750%) due 04/23/2027 ~ | 21990 | 21996 |
| 4.596% (SOFRRATE + 0.930%) due 07/26/2028 ~ | 2171 | 2175 |
| 4.635% (SOFRINDX + 0.970%) due 07/28/2027 ~ | 7092 | 7101 |
| 4.660% (SOFRINDX + 1.000%) due 02/16/2028 ~ | 1181 | 1185 |
| **American Honda Finance Corp.** |  |  |
| 4.210% due 05/11/2026 •  | 1907 | 1907 |
| 4.269% due 12/11/2026 •  | 512 | 511 |
| 4.273% due 10/06/2026 •  | 13800 | 13801 |
| 4.379% due 03/08/2027 •  | 53800 | 53814 |
| 4.390% due 08/13/2027 •  | 83700 | 83638 |
| 4.398% (SOFRINDX + 0.720%) due 10/05/2026 ~ | 2380 | 2382 |
| 4.418% (SOFRRATE + 0.770%) due 03/12/2027 ~ | 2506 | 2505 |
| 4.538% (SOFRRATE + 0.870%) due 07/09/2027 ~ | 18500 | 18515 |
| 4.900% due 03/12/2027 | 9094 | 9128 |
| 5.250% due 07/07/2026 | 2658 | 2663 |
| **American Tower Corp.** |  |  |
| 1.450% due 09/15/2026 | 41551 | 41015 |
| 1.600% due 04/15/2026 | 27751 | 27722 |
| 2.750% due 01/15/2027 | 7296 | 7205 |
| 3.125% due 01/15/2027 | 15044 | 14885 |
| 3.375% due 10/15/2026 | 25002 | 24860 |
| 3.650% due 03/15/2027 | 19632 | 19496 |
| **Aozora Bank Ltd.**<br>5.900% due 09/08/2026 | 2165 | 2179 |
| **Athene Global Funding** |  |  |
| 1.608% due 06/29/2026 | 3408 | 3383 |
| 4.341% due 08/10/2026 •  | 17500 | 17508 |
| 4.417% due 07/16/2026 •  | 30250 | 30269 |
| 4.500% (SOFRINDX + 0.830%) due 01/07/2027 ~ | 28032 | 28031 |
| 4.511% (SOFRINDX + 0.850%) due 05/08/2026 ~ | 49733 | 49757 |
| 4.684% (SOFRINDX + 1.030%) due 08/27/2026 ~ | 37904 | 37973 |
| 4.857% (SOFRINDX + 1.210%) due 03/25/2027 ~ | 2000 | 2002 |
| 4.860% due 08/27/2026 | 4418 | 4425 |
| 4.950% due 01/07/2027 | 25924 | 26002 |
| **Aviation Capital Group LLC** |  |  |
| 1.950% due 09/20/2026 | 28619 | 28283 |
| 4.750% due 04/14/2027 | 2229 | 2232 |
| **Avolon Holdings Funding Ltd.** |  |  |
| 3.250% due 02/15/2027 | 134 | 133 |
| 4.250% due 04/15/2026 | 3200 | 3200 |
| 4.375% due 05/01/2026 | 3445 | 3445 |
| **Banco Santander SA** |  |  |
| 1.722% due 09/14/2027 •  | 15653 | 15455 |
| 4.250% due 04/11/2027 | 4000 | 3996 |
| 4.788% (SOFRRATE + 1.120%) due 07/15/2028 ~ | 4700 | 4720 |
| 5.028% (SOFRRATE + 1.380%) due 03/14/2028 ~ | 3997 | 4022 |
| 5.552% due 03/14/2028 •  | 13300 | 13415 |
| **Bank of America Corp.** |  |  |
| 1.734% due 07/22/2027 •  | 73431 | 72821 |
| 3.559% due 04/23/2027 •  | 20710 | 20699 |
| 4.636% (SOFRRATE + 0.970%) due 07/22/2027 ~ | 5787 | 5794 |
| 4.712% (SOFRRATE + 1.050%) due 02/04/2028 ~ | 14451 | 14502 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.997% (SOFRRATE + 1.350%) due 09/15/2027 ~ | 7817 | 7847 |
| **Bank of America NA**<br>4.680% (SOFRRATE + 1.020%) due 08/18/2026 ~ | 135 | 135 |
| **Bank of Montreal** |  |  |
| 4.268% (SOFRINDX + 0.620%) due 09/15/2026 ~ | 9570 | 9580 |
| 4.412% (SOFRINDX + 0.760%) due 06/04/2027 ~ | 906 | 907 |
| 4.529% (SOFRINDX + 0.880%) due 09/10/2027 ~ | 59925 | 59978 |
| 4.567% due 09/10/2027 •  | 10000 | 10011 |
| 4.809% (SOFRINDX + 1.160%) due 12/11/2026 ~ | 9970 | 10012 |
| 4.981% (SOFRINDX + 1.330%) due 06/05/2026 ~ | 5000 | 5010 |
| **Bank of New York Mellon**<br>4.587% due 04/20/2027 •  | 20450 | 20452 |
| **Bank of Nova Scotia** |  |  |
| 4.258% (SOFRRATE + 0.610%) due 09/15/2026 ~ | 2355 | 2358 |
| 4.432% (SOFRINDX + 0.780%) due 06/04/2027 ~ | 171 | 172 |
| **Banque Federative du Credit Mutuel SA** |  |  |
| 4.730% (SOFRINDX + 1.070%) due 02/16/2028 ~ | 1500 | 1505 |
| 4.796% (SOFRRATE + 1.130%) due 01/23/2027 ~ | 21366 | 21468 |
| 5.068% (SOFRINDX + 1.400%) due 07/13/2026 ~ | 20881 | 20944 |
| 5.896% due 07/13/2026 | 800 | 804 |
| **Barclays Bank PLC**<br>4.531% due 11/26/2027 •  | 10000 | 10021 |
| **Barclays PLC** |  |  |
| 5.138% (SOFRRATE + 1.490%) due 03/12/2028 ~ | 21816 | 21970 |
| 5.528% (SOFRRATE + 1.880%) due 09/13/2027 ~ | 29775 | 29894 |
| 5.674% due 03/12/2028 •  | 10646 | 10748 |
| 5.829% due 05/09/2027 •  | 58721 | 58786 |
| 6.496% due 09/13/2027 •  | 24900 | 25103 |
| **BNP Paribas SA** |  |  |
| 1.675% due 06/30/2027 •  | 33813 | 33563 |
| 2.591% due 01/20/2028 •  | 11602 | 11426 |
| 3.500% due 11/16/2027 | 3870 | 3811 |
| **BPCE SA** |  |  |
| 2.045% due 10/19/2027 •  | 19020 | 18757 |
| 3.500% due 10/23/2027 | 34550 | 34045 |
| 5.125% due 01/18/2028 (b) | 1300 | 1316 |
| 6.612% due 10/19/2027 •  | 2800 | 2831 |
| **Brighthouse Financial Global Funding**<br>1.550% due 05/24/2026 | 5326 | 5303 |
| **Brixmor Operating Partnership LP**<br>4.125% due 06/15/2026 | 6736 | 6732 |
| **Canadian Imperial Bank of Commerce** |  |  |
| 4.388% (SOFRRATE + 0.720%) due 01/13/2028 ~ | 25377 | 25391 |
| 4.449% (SOFRRATE + 0.800%) due 09/08/2028 ~ | 48216 | 48233 |
| 4.579% (SOFRINDX + 0.930%) due 09/11/2027 ~ | 51778 | 51824 |
| 4.587% (SOFRRATE + 0.940%) due 06/28/2027 ~ | 26991 | 27136 |
| 4.899% (SOFRRATE + 1.220%) due 10/02/2026 ~ | 26795 | 26880 |
| **Chiba Bank Ltd.**<br>1.350% due 09/08/2026 | 650 | 642 |
| **Citibank NA**<br>4.368% (SOFRRATE + 0.708%) due 08/06/2026 ~ | 3262 | 3266 |
| **Citigroup, Inc.** |  |  |
| 1.462% due 06/09/2027 •  | 53266 | 52961 |
| 3.070% due 02/24/2028 •  | 9774 | 9657 |
| 3.887% due 01/10/2028 •  | 2039 | 2029 |
| 4.420% (SOFRRATE + 0.770%) due 06/09/2027 ~ | 7136 | 7141 |
| 4.936% (SOFRRATE + 1.280%) due 02/24/2028 ~ | 180 | 181 |
| **CNH Industrial Capital LLC**<br>1.450% due 07/15/2026 | 3222 | 3193 |
| **CNO Global Funding**<br>1.750% due 10/07/2026 | 315 | 311 |
| **Cooperatieve Rabobank UA** |  |  |
| 4.273% (SOFRINDX + 0.620%) due 08/28/2026 ~ | 27300 | 27329 |
| 4.361% (SOFRINDX + 0.710%) due 03/05/2027 ~ | 70100 | 70310 |
| 4.578% (SOFRINDX + 0.900%) due 10/05/2026 ~ | 950 | 952 |
| **Corebridge Financial, Inc.**<br>3.650% due 04/05/2027 | 12100 | 11993 |
| **Corebridge Global Funding**<br>4.508% (SOFRRATE + 0.860%) due 12/15/2028 ~ | 46400 | 46330 |
| **Credit Agricole SA** |  |  |
| 4.125% due 01/10/2027 | 2866 | 2863 |
| 4.519% (SOFRRATE + 0.870%) due 03/11/2027 ~ | 46565 | 46681 |
| 4.968% (SOFRRATE + 1.290%) due 07/05/2026 ~ | 9360 | 9382 |
| **Crown Castle, Inc.** |  |  |
| 1.050% due 07/15/2026 | 3218 | 3187 |
| 2.900% due 03/15/2027 | 23277 | 22935 |
| 3.700% due 06/15/2026 | 11664 | 11646 |
| **CubeSmart LP**<br>3.125% due 09/01/2026 | 800 | 796 |
| **Danske Bank AS**<br>1.549% due 09/10/2027 •  | 42670 | 42138 |
| **DBS Group Holdings Ltd.**<br>4.246% (SOFRRATE + 0.600%) due 03/21/2028 ~ | 44000 | 44074 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Deutsche Bank AG** |  |  |
| 2.311% due 11/16/2027 •  | 40869 | 40316 |
| 2.552% due 01/07/2028 •  | 38037 | 37450 |
| 4.879% (SOFRRATE + 1.219%) due 11/16/2027 ~ | 50 | 50 |
| 5.706% due 02/08/2028 •  | 25600 | 25818 |
| 7.146% due 07/13/2027 •  | 88575 | 89178 |
| **DNB Bank ASA**<br>1.535% due 05/25/2027 •  | 25218 | 25103 |
| **Equinix, Inc.** |  |  |
| 1.450% due 05/15/2026 | 5000 | 4985 |
| 2.900% due 11/18/2026 | 2563 | 2540 |
| **Equitable America Global Funding** |  |  |
| 3.950% due 09/15/2027 | 9900 | 9823 |
| 4.358% (SOFRRATE + 0.710%) due 09/15/2027 ~ | 21850 | 21892 |
| **Essex Portfolio LP**<br>3.375% due 04/15/2026 | 2777 | 2776 |
| **F&G Global Funding** |  |  |
| 1.750% due 06/30/2026 | 51121 | 50752 |
| 2.300% due 04/11/2027 | 6000 | 5853 |
| **Federation des Caisses Desjardins du Quebec**<br>4.296% (SOFRRATE + 0.630%) due 01/27/2027 ~ | 55350 | 55416 |
| **Ford Motor Credit Co. LLC** |  |  |
| 2.700% due 08/10/2026 | 25170 | 24987 |
| 4.125% due 08/17/2027 | 6000 | 5924 |
| 4.271% due 01/09/2027 | 34456 | 34306 |
| 4.542% due 08/01/2026 | 33119 | 33076 |
| 4.950% due 05/28/2027 | 10057 | 10057 |
| 5.112% (SOFRRATE + 1.450%) due 11/05/2026 ~ | 1400 | 1402 |
| 5.125% due 11/05/2026 | 13965 | 13996 |
| 5.800% due 03/05/2027 | 31616 | 31798 |
| 5.850% due 05/17/2027 | 2890 | 2912 |
| 6.950% due 06/10/2026 | 27866 | 27933 |
| **GA Global Funding Trust** |  |  |
| 2.250% due 01/06/2027 | 20270 | 19936 |
| 4.400% due 09/23/2027 | 50000 | 49699 |
| **GATX Corp.**<br>3.250% due 09/15/2026 | 11385 | 11322 |
| **General Motors Financial Co., Inc.** |  |  |
| 1.500% due 06/10/2026 | 2234 | 2221 |
| 2.350% due 02/26/2027 | 6668 | 6542 |
| 4.000% due 10/06/2026 | 33714 | 33639 |
| 4.350% due 01/17/2027 | 44370 | 44316 |
| 5.000% due 04/09/2027 | 13582 | 13645 |
| 5.000% due 07/15/2027 | 10077 | 10132 |
| 5.011% (SOFRINDX + 1.350%) due 05/08/2027 ~ | 9150 | 9205 |
| 5.400% due 04/06/2026 | 37002 | 37006 |
| 5.400% due 05/08/2027 | 20296 | 20480 |
| **Goldman Sachs Bank USA**<br>4.406% (SOFRRATE + 0.750%) due 05/21/2027 ~ | 38509 | 38518 |
| **Goldman Sachs Group, Inc.** |  |  |
| 1.542% due 09/10/2027 •  | 19822 | 19567 |
| 1.948% due 10/21/2027 •  | 37760 | 37248 |
| 2.640% due 02/24/2028 •  | 49625 | 48832 |
| 3.615% due 03/15/2028 •  | 1425 | 1414 |
| 4.387% due 06/15/2027 •  | 2578 | 2578 |
| 4.469% (SOFRRATE + 0.820%) due 09/10/2027 ~ | 27022 | 27033 |
| 4.587% (SOFRRATE + 0.920%) due 10/21/2027 ~ | 16300 | 16337 |
| 4.776% (SOFRRATE + 1.120%) due 02/24/2028 ~ | 7043 | 7074 |
| 4.956% (SOFRRATE + 1.290%) due 04/23/2028 ~ | 1317 | 1325 |
| 5.683% (US0003M + 1.750%) due 10/28/2027 ~ | 7226 | 7280 |
| **HSBC Holdings PLC** |  |  |
| 4.041% due 03/13/2028 •  | 30928 | 30790 |
| 5.230% (SOFRRATE + 1.570%) due 08/14/2027 ~ | 21447 | 21509 |
| 5.597% due 05/17/2028 •  | 2200 | 2225 |
| 5.887% due 08/14/2027 •  | 39893 | 40090 |
| **HSBC USA, Inc.**<br>4.612% (SOFRRATE + 0.960%) due 03/04/2027 ~ | 17550 | 17619 |
| **ING Groep NV** |  |  |
| 1.726% due 04/01/2027 •  | 62788 | 62788 |
| 4.017% due 03/28/2028 •  | 2000 | 1991 |
| 4.696% due 04/01/2027 •  | 53702 | 53702 |
| 5.209% (SOFRINDX + 1.560%) due 09/11/2027 ~ | 14090 | 14154 |
| **International Bank for Reconstruction & Development**<br>3.957% (SOFRINDX + 0.310%) due 09/23/2026 ~ | 115000 | 115077 |
| **Jackson National Life Global Funding** |  |  |
| 3.050% due 04/29/2026 | 300 | 300 |
| 4.539% due 06/09/2027 •  | 34942 | 35008 |
| 4.900% due 01/13/2027 | 23100 | 23188 |
| 5.600% due 04/10/2026 | 47699 | 47710 |
| **JPMorgan Chase & Co.** |  |  |
| 1.578% due 04/22/2027 •  | 40396 | 40331 |
| 3.782% due 02/01/2028 •  | 7515 | 7479 |
| 4.411% (SOFRRATE + 0.765%) due 09/22/2027 ~ | 20725 | 20737 |
| 4.551% (SOFRRATE + 0.885%) due 04/22/2027 ~ | 19045 | 19054 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.586% (SOFRRATE + 0.920%) due 04/22/2028 ~ | 15120 | 15170 |
| 4.596% (SOFRRATE + 0.930%) due 07/22/2028 ~ | 6402 | 6416 |
| 4.836% (SOFRRATE + 1.180%) due 02/24/2028 ~ | 25122 | 25263 |
| 4.866% (SOFRRATE + 1.200%) due 01/23/2028 ~ | 19360 | 19442 |
| 5.040% due 01/23/2028 •  | 28852 | 29002 |
| **Lloyds Banking Group PLC** |  |  |
| 1.627% due 05/11/2027 •  | 19106 | 19039 |
| 5.222% (SOFRINDX + 1.560%) due 08/07/2027 ~ | 28757 | 28849 |
| 5.265% (SOFRINDX + 1.580%) due 01/05/2028 ~ | 8313 | 8379 |
| 5.462% due 01/05/2028 •  | 21266 | 21425 |
| 5.985% due 08/07/2027 •  | 60869 | 61163 |
| **LSEG Finance PLC**<br>1.375% due 04/06/2026 | 3012 | 3011 |
| **Lseg U.S. Fin Corp.**<br>4.875% due 03/28/2027 | 1950 | 1959 |
| **Marsh & McLennan Cos., Inc.**<br>4.361% (SOFRINDX + 0.700%) due 11/08/2027 ~ | 2005 | 2010 |
| **MassMutual Global Funding II**<br>4.326% (SOFRRATE + 0.660%) due 01/22/2029 ~ | 13100 | 13095 |
| **Mitsubishi UFJ Financial Group, Inc.**<br>1.538% due 07/20/2027 •  | 23550 | 23338 |
| **Mizuho Financial Group, Inc.**<br>1.234% due 05/22/2027 •  | 63763 | 63465 |
| **Morgan Stanley** |  |  |
| 1.512% due 07/20/2027 •  | 32565 | 32269 |
| 1.593% due 05/04/2027 •  | 43884 | 43763 |
| 4.687% (SOFRRATE + 1.020%) due 04/13/2028 ~ | 4850 | 4868 |
| **Morgan Stanley Bank NA** |  |  |
| 4.352% (SOFRRATE + 0.685%) due 10/15/2027 ~ | 44884 | 44851 |
| 4.747% (SOFRRATE + 1.080%) due 01/14/2028 ~ | 2450 | 2461 |
| **Morgan Stanley Private Bank NA**<br>4.439% (SOFRRATE + 0.770%) due 07/06/2028 ~ | 68288 | 68203 |
| **National Bank of Canada** |  |  |
| 4.166% due 01/20/2029 •  | 19800 | 19701 |
| 4.437% due 01/20/2029 •  | 2000 | 2003 |
| 4.709% (SOFRINDX + 1.030%) due 07/02/2027 ~ | 9865 | 9879 |
| 5.600% due 07/02/2027 •  | 19212 | 19270 |
| **Nationwide Building Society** |  |  |
| 2.972% due 02/16/2028 •  | 27890 | 27506 |
| 4.950% (SOFRRATE + 1.290%) due 02/16/2028 ~ | 12156 | 12204 |
| 6.557% due 10/18/2027 •  | 26211 | 26510 |
| **NatWest Group PLC**<br>1.642% due 06/14/2027 •  | 6500 | 6461 |
| **NatWest Markets PLC** |  |  |
| 4.407% (SOFRRATE + 0.760%) due 09/29/2026 ~ | 10880 | 10896 |
| 4.560% (SOFRRATE + 0.900%) due 05/17/2027 ~ | 25964 | 26053 |
| 4.596% (SOFRRATE + 0.950%) due 03/21/2028 ~ | 220 | 221 |
| **New York Life Global Funding** |  |  |
| 4.072% (SOFRRATE + 0.410%) due 02/05/2027 ~ | 74700 | 74685 |
| 4.199% (SOFRRATE + 0.550%) due 06/11/2027 ~ | 100 | 100 |
| **Nomura Holdings, Inc.** |  |  |
| 1.653% due 07/14/2026 | 62704 | 62252 |
| 2.329% due 01/22/2027 | 9517 | 9360 |
| 4.936% (SOFRRATE + 1.250%) due 07/02/2027 ~ | 7417 | 7463 |
| **Nordea Bank Abp**<br>4.386% (SOFRRATE + 0.740%) due 03/19/2027 ~ | 9500 | 9524 |
| **Old Republic International Corp.**<br>3.875% due 08/26/2026 | 3810 | 3806 |
| **ORIX Corp.**<br>3.950% due 01/19/2027 | 2700 | 2692 |
| **Pacific Life Global Funding II** |  |  |
| 4.142% (SOFRRATE + 0.480%) due 02/04/2027 ~ | 68200 | 68191 |
| 4.266% (SOFRRATE + 0.600%) due 01/27/2028 ~ | 41040 | 41043 |
| **PNC Bank NA** |  |  |
| 4.397% (SOFRRATE + 0.730%) due 07/21/2028 ~ | 4000 | 4007 |
| 4.543% due 05/13/2027 •  | 14650 | 14651 |
| **Protective Life Global Funding**<br>4.166% (SOFRRATE + 0.500%) due 07/22/2026 ~ | 30500 | 30508 |
| **Reinsurance Group of America, Inc.**<br>3.950% due 09/15/2026 | 5388 | 5384 |
| **RGA Global Funding**<br>2.000% due 11/30/2026 | 9000 | 8863 |
| **Royal Bank of Canada** |  |  |
| 4.124% (SOFRINDX + 0.460%) due 08/03/2026 ~ | 38600 | 38619 |
| 4.254% (SOFRINDX + 0.590%) due 11/02/2026 ~ | 2600 | 2602 |
| 4.387% (SOFRINDX + 0.720%) due 10/18/2027 ~ | 51979 | 51989 |
| 4.456% (SOFRINDX + 0.790%) due 07/23/2027 ~ | 65628 | 65692 |
| 4.467% (SOFRINDX + 0.820%) due 03/27/2028 ~ | 31250 | 31288 |
| 4.527% (SOFRINDX + 0.860%) due 10/18/2028 ~ | 5554 | 5559 |
| 5.069% due 07/23/2027 •  | 11535 | 11558 |
| **Sammons Financial Group Global Funding**<br>4.504% due 09/02/2027 •  | 43800 | 43997 |
| **Santander Holdings USA, Inc.** |  |  |
| 3.244% due 10/05/2026 | 8407 | 8360 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.124% due 05/31/2027 •  | 12500 | 12526 |
| **Santander U.K. Group Holdings PLC** |  |  |
| 1.673% due 06/14/2027 •  | 81574 | 81075 |
| 2.469% due 01/11/2028 •  | 9186 | 9036 |
| **SMBC Aviation Capital Finance DAC**<br>1.900% due 10/15/2026 | 16326 | 16099 |
| **Societe Generale SA** |  |  |
| 2.797% due 01/19/2028 •  | 9900 | 9759 |
| 4.758% due 02/19/2027 •  | 5500 | 5520 |
| 5.250% due 02/19/2027 | 36680 | 36914 |
| **Standard Chartered Bank**<br>4.319% (SOFRRATE + 0.650%) due 10/08/2026 ~ | 4000 | 4005 |
| **Standard Chartered PLC** |  |  |
| 4.050% due 04/12/2026 | 12400 | 12396 |
| 4.830% (SOFRRATE + 1.170%) due 05/14/2028 ~ | 2470 | 2483 |
| 5.603% (SOFRRATE + 1.930%) due 07/06/2027 ~ | 21488 | 21568 |
| 5.691% (SOFRRATE + 2.030%) due 02/08/2028 ~ | 5250 | 5310 |
| 6.187% due 07/06/2027 •  | 39323 | 39483 |
| 6.750% due 02/08/2028 •  | 5300 | 5395 |
| **Sumitomo Mitsui Financial Group, Inc.** |  |  |
| 4.548% (SOFRRATE + 0.880%) due 01/14/2027 ~ | 8664 | 8687 |
| 4.969% (SOFRRATE + 1.300%) due 07/13/2026 ~ | 44888 | 44988 |
| **Sumitomo Mitsui Trust Bank Ltd.** |  |  |
| 4.631% (SOFRRATE + 0.980%) due 09/10/2027 ~ | 11343 | 11421 |
| 4.798% (SOFRRATE + 1.150%) due 09/14/2026 ~ | 7462 | 7481 |
| **Svenska Handelsbanken AB**<br>4.898% due 06/15/2026 •  | 1000 | 1002 |
| **Swedbank AB**<br>5.028% due 06/15/2026 •  | 10509 | 10527 |
| **Synchrony Financial**<br>3.700% due 08/04/2026 | 13536 | 13498 |
| **Temasek Financial I Ltd.**<br>4.040% (SOFRRATE + 0.380%) due 08/20/2027 ~ | 68100 | 68218 |
| **Toronto-Dominion Bank**<br>4.248% (SOFRRATE + 0.580%) due 01/13/2028 ~ | 70000 | 70164 |
| **Toyota Motor Credit Corp.** |  |  |
| 4.118% (SOFRINDX + 0.450%) due 01/12/2028 ~ | 30200 | 30177 |
| 4.431% (SOFRRATE + 0.770%) due 08/07/2026 ~ | 17000 | 17021 |
| **U.S. Bancorp**<br>2.215% due 01/27/2028 •  | 16900 | 16607 |
| **UBS AG**<br>4.160% (SOFRRATE + 0.500%) due 05/17/2027 ~ | 689 | 689 |
| **UBS Group AG** |  |  |
| 4.125% due 04/15/2026 | 49300 | 49300 |
| 4.703% due 08/05/2027 •  | 13554 | 13558 |
| **United Overseas Bank Ltd.**<br>4.266% (SOFRINDX + 0.580%) due 04/02/2028 ~ | 64500 | 64723 |
| **Voya Financial, Inc.**<br>3.650% due 06/15/2026 | 4549 | 4541 |
| **Wells Fargo & Co.** |  |  |
| 3.196% due 06/17/2027 •  | 40573 | 40459 |
| 3.526% due 03/24/2028 •  | 50000 | 49599 |
| 4.446% (SOFRRATE + 0.780%) due 01/24/2028 ~ | 29480 | 29475 |
| 4.736% (SOFRRATE + 1.070%) due 04/22/2028 ~ | 10082 | 10120 |
| 4.900% due 01/24/2028 •  | 15665 | 15724 |
| **Weyerhaeuser Co.**<br>4.750% due 05/15/2026 | 5501 | 5503 |
| **WP Carey, Inc.**<br>4.250% due 10/01/2026 | 2205 | 2204 |
|  |  | 6000928 |
| **INDUSTRIALS 13.5%** |  |  |
| **AbbVie, Inc.**<br>4.131% (SOFRINDX + 0.480%) due 03/03/2028 ~ | 17400 | 17421 |
| **AEP Transmission Co. LLC**<br>3.100% due 12/01/2026 | 1041 | 1033 |
| **Alcon Finance Corp.**<br>2.750% due 09/23/2026 | 2600 | 2579 |
| **Algonquin Power & Utilities Corp.**<br>5.365% due 06/15/2026 þ | 58995 | 59047 |
| **Amazon.com, Inc.**<br>4.088% (SOFRRATE + 0.440%) due 03/13/2028 ~ | 68300 | 68286 |
| **Amcor Finance USA, Inc.**<br>3.625% due 04/28/2026 | 506 | 506 |
| **Amphenol Corp.**<br>3.900% due 11/15/2028 | 2600 | 2581 |
| **AutoZone, Inc.**<br>3.125% due 04/21/2026 | 2133 | 2132 |
| **Bacardi Ltd.**<br>2.750% due 07/15/2026 | 26357 | 26236 |
| **Baxter International, Inc.**<br>1.915% due 02/01/2027 | 9690 | 9463 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Bayer U.S. Finance LLC**<br>6.125% due 11/21/2026 | 36550 | 36888 |
| **Berry Global, Inc.**<br>4.875% due 07/15/2026 | 15583 | 15585 |
| **BMW U.S. Capital LLC** |  |  |
| 4.150% due 08/11/2027 | 28600 | 28542 |
| 4.229% (SOFRINDX + 0.550%) due 04/02/2026 ~ | 25530 | 25530 |
| 4.370% (SOFRRATE + 0.710%) due 08/11/2027 ~ | 50432 | 50442 |
| 4.426% (SOFRINDX + 0.780%) due 03/19/2027 ~ | 30020 | 30097 |
| 4.436% (SOFRRATE + 0.790%) due 03/17/2028 ~ | 46000 | 46010 |
| 4.460% (SOFRINDX + 0.800%) due 08/13/2026 ~ | 31131 | 31163 |
| 4.566% (SOFRINDX + 0.920%) due 03/21/2028 ~ | 1025 | 1028 |
| 4.580% (SOFRINDX + 0.920%) due 08/13/2027 ~ | 3327 | 3333 |
| 4.650% due 03/19/2027 | 7600 | 7636 |
| **Boeing Co.** |  |  |
| 2.250% due 06/15/2026 | 678 | 675 |
| 2.700% due 02/01/2027 | 10780 | 10632 |
| 3.100% due 05/01/2026 | 4015 | 4010 |
| **Bunge Ltd. Finance Corp.**<br>2.000% due 04/21/2026 | 47941 | 47873 |
| **Campbell's Co.**<br>5.200% due 03/19/2027 | 15904 | 15994 |
| **Conagra Brands, Inc.** |  |  |
| 5.300% due 10/01/2026 | 62008 | 62303 |
| 7.125% due 10/01/2026 | 789 | 799 |
| **Constellation Brands, Inc.** |  |  |
| 3.500% due 05/09/2027 | 1569 | 1553 |
| 3.700% due 12/06/2026 | 9985 | 9944 |
| **Cox Communications, Inc.**<br>3.350% due 09/15/2026 | 34804 | 34648 |
| **CVS Health Corp.**<br>2.875% due 06/01/2026 | 43641 | 43532 |
| **Daimler Truck Finance North America LLC** |  |  |
| 4.300% due 08/12/2027 | 29200 | 29153 |
| 4.606% (SOFRRATE + 0.960%) due 09/25/2027 ~ | 1581 | 1585 |
| **Deutsche Telekom International Finance BV**<br>3.600% due 01/19/2027 | 3078 | 3062 |
| **Diamondback Energy, Inc.**<br>5.200% due 04/18/2027 | 6714 | 6768 |
| **Element Fleet Management Corp.** |  |  |
| 5.643% due 03/13/2027 | 300 | 303 |
| 6.271% due 06/26/2026 | 233 | 234 |
| **Enbridge, Inc.** |  |  |
| 1.600% due 10/04/2026 | 3251 | 3208 |
| 4.250% due 12/01/2026 | 13334 | 13331 |
| **Energy Transfer LP** |  |  |
| 3.900% due 07/15/2026 | 15436 | 15420 |
| 4.200% due 04/15/2027 | 637 | 636 |
| 4.400% due 03/15/2027 | 4869 | 4868 |
| 6.050% due 12/01/2026 | 18512 | 18686 |
| **Fiserv, Inc.**<br>5.150% due 03/15/2027 | 9075 | 9121 |
| **Ford Motor Co.**<br>4.346% due 12/08/2026 | 12922 | 12887 |
| **Fresenius Medical Care U.S. Finance III, Inc.**<br>1.875% due 12/01/2026 | 3050 | 2992 |
| **Glencore Funding LLC** |  |  |
| 1.625% due 04/27/2026 | 8342 | 8325 |
| 4.000% due 03/27/2027 | 600 | 598 |
| 4.396% (SOFRINDX + 0.750%) due 10/01/2026 ~ | 5500 | 5509 |
| **Global Payments, Inc.**<br>2.150% due 01/15/2027 | 17200 | 16892 |
| **Haleon U.S. Capital LLC**<br>3.375% due 03/24/2027 | 7256 | 7188 |
| **HCA, Inc.** |  |  |
| 3.125% due 03/15/2027 | 8832 | 8721 |
| 4.500% due 02/15/2027 | 3002 | 3002 |
| 5.250% due 06/15/2026 | 4501 | 4504 |
| 5.375% due 09/01/2026 | 18550 | 18565 |
| **Hyundai Capital America** |  |  |
| 1.500% due 06/15/2026 | 8347 | 8297 |
| 1.650% due 09/17/2026 | 700 | 691 |
| 3.500% due 11/02/2026 | 6337 | 6300 |
| 4.590% (SOFRRATE + 0.920%) due 01/07/2028 ~ | 1842 | 1832 |
| 4.637% (SOFRRATE + 0.990%) due 03/25/2027 ~ | 48620 | 48728 |
| 4.677% (SOFRRATE + 1.030%) due 09/24/2027 ~ | 3755 | 3765 |
| 4.686% (SOFRRATE + 1.040%) due 03/19/2027 ~ | 18765 | 18830 |
| 4.687% (SOFRRATE + 1.040%) due 06/24/2027 ~ | 8097 | 8118 |
| 4.766% (SOFRRATE + 1.120%) due 06/23/2027 ~ | 16980 | 17041 |
| 4.850% due 03/25/2027 | 11400 | 11442 |
| 5.169% (SOFRRATE + 1.500%) due 01/08/2027 ~ | 20581 | 20723 |
| 5.250% due 01/08/2027 | 5376 | 5407 |
| 5.300% due 03/19/2027 | 14725 | 14841 |
| 5.650% due 06/26/2026 | 100 | 100 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.950% due 09/21/2026 | 12004 | 12080 |
| **Hyundai Capital Services, Inc.** |  |  |
| 2.500% due 01/24/2027 | 300 | 295 |
| 5.125% due 02/05/2027 | 5000 | 5026 |
| **Illumina, Inc.**<br>4.650% due 09/09/2026 | 15532 | 15536 |
| **Imperial Brands Finance PLC** |  |  |
| 3.500% due 07/26/2026 | 26381 | 26305 |
| 6.125% due 07/27/2027 | 11745 | 11986 |
| **JDE Peet's NV**<br>1.375% due 01/15/2027 | 12538 | 12230 |
| **Keurig Dr. Pepper, Inc.** |  |  |
| 4.240% (SOFRRATE + 0.580%) due 11/15/2026 ~ | 21631 | 21597 |
| 4.528% (SOFRINDX + 0.880%) due 03/15/2027 ~ | 925 | 926 |
| 5.100% due 03/15/2027 | 19000 | 19079 |
| **Kinder Morgan, Inc.**<br>1.750% due 11/15/2026 | 3914 | 3854 |
| **Kraft Heinz Foods Co.**<br>3.000% due 06/01/2026 | 3885 | 3876 |
| **Kyndryl Holdings, Inc.**<br>2.050% due 10/15/2026 | 6270 | 6169 |
| **Laboratory Corp. of America Holdings**<br>1.550% due 06/01/2026 | 859 | 855 |
| **Lowe's Cos., Inc.**<br>2.500% due 04/15/2026 | 4837 | 4833 |
| **Marathon Petroleum Corp.**<br>5.125% due 12/15/2026 | 61178 | 61388 |
| **Mars, Inc.**<br>4.450% due 03/01/2027 | 8000 | 8027 |
| **Marvell Technology, Inc.**<br>1.650% due 04/15/2026 | 23829 | 23803 |
| **Mercedes-Benz Finance North America LLC** |  |  |
| 4.296% (SOFRRATE + 0.630%) due 07/31/2026 ~ | 34600 | 34630 |
| 4.359% (SOFRRATE + 0.710%) due 03/10/2028 ~ | 10000 | 10001 |
| 4.426% (SOFRRATE + 0.780%) due 04/01/2027 ~ | 28700 | 28750 |
| 4.426% due 04/01/2027 •  | 5193 | 5202 |
| 4.510% (SOFRRATE + 0.850%) due 11/15/2027 ~ | 200 | 201 |
| 4.875% due 07/31/2026 | 3839 | 3844 |
| **Molson Coors Beverage Co.**<br>3.000% due 07/15/2026 | 73362 | 73088 |
| **MPLX LP**<br>4.125% due 03/01/2027 | 23437 | 23383 |
| **National Fuel Gas Co.**<br>5.500% due 10/01/2026 | 1410 | 1416 |
| **Northwest Pipeline LLC**<br>4.000% due 04/01/2027 | 1695 | 1689 |
| **NTT Finance Corp.** |  |  |
| 1.162% due 04/03/2026 | 34982 | 34976 |
| 4.567% due 07/16/2027 | 1700 | 1704 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.**<br>3.875% due 06/18/2026 | 33240 | 33198 |
| **Occidental Petroleum Corp.**<br>3.000% due 02/15/2027 | 2022 | 1998 |
| **Oracle Corp.**<br>2.650% due 07/15/2026 | 14373 | 14296 |
| **Penske Truck Leasing Co. LP/PTL Finance Corp.** |  |  |
| 1.700% due 06/15/2026 | 31854 | 31678 |
| 3.400% due 11/15/2026 | 20304 | 20161 |
| 4.200% due 04/01/2027 | 6231 | 6215 |
| 5.350% due 01/12/2027 | 8410 | 8457 |
| 5.750% due 05/24/2026 | 11932 | 11941 |
| **Qatarenergy LNG S3**<br>6.332% due 09/30/2027 | 916 | 915 |
| **Renesas Electronics Corp.**<br>2.170% due 11/25/2026 | 243 | 239 |
| **Rogers Communications, Inc.** |  |  |
| 2.900% due 11/15/2026 | 13526 | 13394 |
| 3.200% due 03/15/2027 | 25738 | 25426 |
| **Royal Caribbean Cruises Ltd.**<br>5.375% due 07/15/2027 | 3919 | 3934 |
| **RTX Corp.**<br>5.750% due 11/08/2026 | 3459 | 3488 |
| **Sabine Pass Liquefaction LLC**<br>5.000% due 03/15/2027 | 10892 | 10914 |
| **SK Hynix, Inc.**<br>5.500% due 01/16/2027 | 11873 | 11992 |
| **Southwest Airlines Co.**<br>3.000% due 11/15/2026 | 22347 | 22154 |
| **Spectra Energy Partners LP**<br>3.375% due 10/15/2026 | 12319 | 12260 |
| **Sydney Airport Finance Co. Pty. Ltd.**<br>3.625% due 04/28/2026 | 41668 | 41633 |
| **Synopsys, Inc.**<br>4.550% due 04/01/2027 | 35400 | 35432 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **T-Mobile USA, Inc.** |  |  |
| 2.625% due 04/15/2026 | 13449 | 13439 |
| 3.750% due 04/15/2027 | 7609 | 7563 |
| **Take-Two Interactive Software, Inc.**<br>3.700% due 04/14/2027 | 4250 | 4213 |
| **Telefonica Emisiones SA**<br>4.103% due 03/08/2027 | 73037 | 72748 |
| **Tennessee Gas Pipeline Co. LLC**<br>7.000% due 03/15/2027 | 5782 | 5922 |
| **VMware LLC**<br>1.400% due 08/15/2026 | 97218 | 96206 |
| **Volkswagen Group of America Finance LLC** |  |  |
| 3.200% due 09/26/2026 | 5200 | 5169 |
| 4.707% (SOFRRATE + 1.060%) due 03/25/2027 ~ | 59100 | 59225 |
| 4.720% (SOFRRATE + 1.060%) due 08/14/2026 ~ | 26343 | 26412 |
| 4.950% due 03/25/2027 | 25400 | 25509 |
| 5.700% due 09/12/2026 | 1000 | 1005 |
| 6.000% due 11/16/2026 | 100 | 101 |
| **Vontier Corp.**<br>1.800% due 04/01/2026 | 1365 | 1365 |
| **Walmart, Inc.**<br>4.095% (SOFRINDX + 0.430%) due 04/28/2027 ~ | 154 | 155 |
| **Western Midstream Operating LP**<br>4.650% due 07/01/2026 | 4318 | 4318 |
| **Westinghouse Air Brake Technologies Corp.**<br>3.450% due 11/15/2026 | 3400 | 3381 |
| **Woodside Finance Ltd.**<br>3.700% due 09/15/2026 | 100 | 100 |
| **Zimmer Biomet Holdings, Inc.**<br>4.700% due 02/19/2027 | 8575 | 8602 |
|  |  | 2161081 |
| **UTILITIES 4.9%** |  |  |
| **Ameren Corp.**<br>5.700% due 12/01/2026 | 9584 | 9655 |
| **CenterPoint Energy, Inc.**<br>1.450% due 06/01/2026 | 60671 | 60377 |
| **CMS Energy Corp.**<br>3.000% due 05/15/2026 | 1162 | 1160 |
| **Colorado Interstate Gas Co. LLC/Colorado Interstate Issuing Corp.**<br>4.150% due 08/15/2026 | 8194 | 8181 |
| **Columbia Pipelines Holding Co. LLC**<br>6.055% due 08/15/2026 | 4736 | 4758 |
| **Constellation Energy Generation LLC**<br>4.269% (SOFRRATE + 0.600%) due 01/08/2028 ~ | 60965 | 60876 |
| **Dominion Energy, Inc.**<br>2.850% due 08/15/2026 | 8649 | 8603 |
| **Duke Energy Corp.**<br>4.850% due 01/05/2027 | 1383 | 1389 |
| **Emera U.S. Finance LP**<br>3.550% due 06/15/2026 | 13797 | 13766 |
| **Enel Americas SA**<br>4.000% due 10/25/2026 | 21590 | 21552 |
| **ENEL Finance International NV**<br>1.625% due 07/12/2026 | 61525 | 61066 |
| **Entergy Corp.**<br>2.950% due 09/01/2026 | 51148 | 50857 |
| **Eversource Energy** |  |  |
| 1.400% due 08/15/2026 | 4638 | 4587 |
| 2.900% due 03/01/2027 | 6898 | 6811 |
| 4.750% due 05/15/2026 | 32126 | 32144 |
| **Exelon Corp.**<br>2.750% due 03/15/2027 | 560 | 552 |
| **Fells Point Funding Trust**<br>3.046% due 01/31/2027 | 8166 | 8076 |
| **Fortis, Inc.**<br>3.055% due 10/04/2026 | 48754 | 48419 |
| **ITC Holdings Corp.**<br>3.250% due 06/30/2026 | 374 | 373 |
| **National Rural Utilities Cooperative Finance Corp.** |  |  |
| 4.091% (SOFRINDX + 0.430%) due 08/09/2027 ~ | 26100 | 26088 |
| 4.235% (SOFRRATE + 0.580%) due 11/22/2026 ~ | 41200 | 41249 |
| 4.468% (SOFRRATE + 0.820%) due 09/16/2027 ~ | 4055 | 4069 |
| **NBN Co. Ltd.**<br>1.450% due 05/05/2026 | 750 | 748 |
| **NextEra Energy Capital Holdings, Inc.**<br>4.685% due 09/01/2027 | 18000 | 18093 |
| **ONEOK, Inc.** |  |  |
| 4.850% due 07/15/2026 | 43328 | 43339 |
| 5.550% due 11/01/2026 | 330 | 332 |
| **Pinnacle West Capital Corp.**<br>4.469% (SOFRRATE + 0.820%) due 06/10/2026 ~ | 28385 | 28407 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Plains All American Pipeline LP/PAA Finance Corp.**<br>4.500% due 12/15/2026 | 20908 | 20920 |
| **SA Global Sukuk Ltd.**<br>1.602% due 06/17/2026 | 7100 | 7068 |
| **Sempra**<br>5.400% due 08/01/2026 | 3400 | 3406 |
| **SGSP Australia Assets Pty. Ltd.**<br>3.250% due 07/29/2026 | 11193 | 11162 |
| **Southern California Edison Co.** |  |  |
| 4.400% due 09/06/2026 | 41090 | 41085 |
| 4.875% due 02/01/2027 | 31501 | 31585 |
| 4.900% due 06/01/2026 | 39121 | 39072 |
| **Southern California Gas Co.**<br>2.600% due 06/15/2026 | 3730 | 3718 |
| **Southwestern Electric Power Co.**<br>2.750% due 10/01/2026 | 7127 | 7071 |
| **Virginia Electric & Power Co.**<br>2.950% due 11/15/2026 | 1021 | 1014 |
| **Vistra Operations Co. LLC** |  |  |
| 3.700% due 01/30/2027 | 22472 | 22294 |
| 5.050% due 12/30/2026 | 15862 | 15918 |
| **Xcel Energy, Inc.** |  |  |
| 1.750% due 03/15/2027 | 9790 | 9547 |
| 3.350% due 12/01/2026 | 1254 | 1247 |
|  |  | 780634 |
| Total Corporate Bonds & Notes (Cost $8,943,758) |  | 8942643 |
| **U.S. GOVERNMENT AGENCIES 14.3%** |  |  |
| **Federal Home Loan Mortgage Corp.**<br>6.225% due 09/01/2037 •  | 658 | 686 |
| **Federal Home Loan Mortgage Corp. REMICS** |  |  |
| 1.000% due 08/15/2044 | 3635 | 3082 |
| 4.107% due 02/15/2037 •  | 349 | 345 |
| 4.116% due 05/15/2038 •  | 987 | 957 |
| 4.126% due 05/15/2041 •  | 946 | 934 |
| 4.146% due 03/15/2037 - 03/15/2043 •  | 14013 | 13743 |
| 4.196% due 12/15/2042 - 11/15/2044 •  | 2728 | 2718 |
| 4.207% due 04/15/2041 •  | 114 | 113 |
| 4.216% due 06/15/2044 •  | 3529 | 3490 |
| 4.237% due 09/15/2048 - 04/15/2049 •  | 2679 | 2636 |
| 4.246% due 12/15/2037 •  | 582 | 570 |
| 4.287% due 07/15/2039 •  | 17 | 16 |
| 4.481% due 03/15/2050 •  | 23321 | 23054 |
| 4.512% due 10/25/2055 •  | 5283 | 5300 |
| 4.532% due 04/25/2055 •  | 76711 | 77003 |
| 4.562% due 07/25/2054 - 12/25/2055 •  | 69985 | 70358 |
| 4.592% due 05/25/2055 •  | 65890 | 66314 |
| 4.602% due 11/25/2054 •  | 181034 | 182222 |
| 4.612% due 03/25/2055 - 09/25/2055 •  | 100865 | 101515 |
| 4.642% due 02/25/2055 •  | 19721 | 19862 |
| 4.662% due 10/25/2052 - 08/25/2055 •  | 255528 | 258003 |
| 4.672% due 03/25/2055 •  | 44727 | 44500 |
| 4.762% due 08/25/2054 - 07/25/2055 •  | 29062 | 29210 |
| 4.782% due 08/25/2054 •  | 8750 | 8806 |
| 4.812% due 12/25/2054 - 11/25/2055 •  | 172901 | 173922 |
| 4.862% due 01/25/2055 - 08/25/2055 •  | 45307 | 45732 |
| 4.912% due 05/25/2054 - 06/25/2055 •  | 70121 | 70877 |
| 5.062% due 03/25/2055 •  | 10478 | 10573 |
| 5.112% due 06/25/2055 •  | 15542 | 15704 |
| **Federal Home Loan Mortgage Corp. STRIPS** |  |  |
| 4.037% due 11/15/2036 •  | 2 | 1 |
| 4.146% due 10/15/2037 - 02/15/2038 •  | 3740 | 3696 |
| **Federal National Mortgage Association** |  |  |
| 6.228% due 01/01/2036 •  | 918 | 956 |
| 6.383% due 05/01/2038 •  | 120 | 125 |
| **Federal National Mortgage Association REMICS** |  |  |
| 2.000% due 12/25/2044 | 614 | 544 |
| 4.026% due 05/25/2037 •  | 7 | 7 |
| 4.076% due 12/25/2045 •  | 1072 | 1060 |
| 4.082% due 01/25/2037 •  | 145 | 143 |
| 4.096% due 06/25/2048 •  | 4497 | 4447 |
| 4.106% due 02/25/2037 •  | 14 | 13 |
| 4.116% due 08/25/2044 •  | 1548 | 1513 |
| 4.126% due 11/25/2036 •  | 22 | 22 |
| 4.146% due 08/25/2044 - 10/25/2044 •  | 5133 | 5079 |
| 4.176% due 06/25/2026 •  | 1 | 1 |
| 4.186% due 04/18/2028 - 09/25/2035 •  | 139 | 139 |
| 4.196% due 03/25/2037 - 03/25/2060 •  | 12042 | 11872 |
| 4.226% due 02/25/2038 - 06/25/2059 •  | 4137 | 4074 |
| 4.246% due 07/25/2046 •  | 2906 | 2888 |
| 4.276% due 06/25/2031 •  | 25 | 25 |
| 4.286% due 05/18/2032 •  | 12 | 12 |
| 4.296% due 07/25/2046 •  | 1835 | 1803 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.336% due 03/18/2032 •  | 35 | 35 |
| 4.456% due 12/25/2037 •  | 168 | 169 |
| 4.476% due 05/25/2037 •  | 35 | 36 |
| 4.512% due 11/25/2054 •  | 20105 | 20172 |
| 4.526% due 03/25/2037 - 02/25/2040 •  | 34 | 34 |
| 4.556% due 02/25/2038 •  | 451 | 453 |
| 4.562% due 12/25/2053 - 08/25/2055 •  | 281249 | 282457 |
| 4.572% due 03/25/2055 •  | 9894 | 9948 |
| 4.612% due 01/25/2055 - 03/25/2055 •  | 18865 | 18999 |
| 4.626% due 07/25/2038 •  | 9 | 9 |
| 4.662% due 10/25/2054 - 11/25/2055 •  | 65371 | 65897 |
| 4.676% due 03/25/2032 •  | 3 | 3 |
| 4.712% due 10/25/2054 - 09/25/2055 •  | 19451 | 19627 |
| 4.762% due 06/25/2054 - 10/25/2055 •  | 97148 | 97600 |
| 4.812% due 07/25/2054 •  | 40366 | 40657 |
| 4.842% due 08/25/2055 •  | 2393 | 2414 |
| 4.862% due 12/25/2053 - 02/25/2055 •  | 50175 | 50629 |
| 4.912% due 02/25/2055 - 09/25/2055 •  | 18288 | 18439 |
| 4.962% due 08/25/2054 •  | 10377 | 10446 |
| 5.062% due 12/25/2054 •  | 598 | 602 |
| **Government National Mortgage Association** |  |  |
| 6.000% due 12/15/2033 | 5 | 6 |
| 6.500% due 11/15/2033 - 12/15/2033 | 6 | 6 |
| 7.000% due 01/15/2031 - 07/15/2032 | 3 | 2 |
| 7.500% due 09/15/2027 - 06/15/2028 | 4 | 4 |
| **Government National Mortgage Association REMICS** |  |  |
| 2.500% due 01/20/2049 - 10/20/2049 | 2074 | 1846 |
| 3.000% due 07/20/2046 | 125 | 123 |
| 3.950% due 05/20/2063 •  | 37 | 37 |
| 3.973% due 01/20/2068 •  | 491 | 490 |
| 4.083% due 09/20/2060 - 03/20/2068 •  | 3186 | 3175 |
| 4.113% due 10/20/2060 •  | 268 | 267 |
| 4.133% due 08/20/2058 •  | 44 | 44 |
| 4.153% due 11/20/2070 - 12/20/2070 •  | 14458 | 14386 |
| 4.163% due 12/20/2060 •  | 700 | 695 |
| 4.183% due 08/20/2070 - 11/20/2070 •  | 2345 | 2327 |
| 4.240% due 03/20/2049 - 06/20/2049 •  | 10471 | 10303 |
| 4.253% due 06/20/2067 •  | 260 | 260 |
| 4.263% due 04/20/2065 •  | 40 | 40 |
| 4.283% due 03/20/2061 - 07/20/2067 •  | 1070 | 1071 |
| 4.298% due 10/20/2062 •  | 17 | 17 |
| 4.333% due 05/20/2065 •  | 4215 | 4215 |
| 4.337% due 10/20/2068 •  | 660 | 662 |
| 4.363% due 07/20/2062 •  | 85 | 85 |
| 4.383% due 01/20/2062 - 05/20/2069 •  | 3838 | 3842 |
| 4.390% due 09/20/2040 •  | 2271 | 2264 |
| 4.410% due 05/20/2041 •  | 4378 | 4367 |
| 4.413% due 04/20/2065 •  | 1861 | 1863 |
| 4.420% due 10/20/2040 •  | 4167 | 4157 |
| 4.433% due 11/20/2064 - 10/20/2065 •  | 7501 | 7512 |
| 4.440% due 05/20/2041 •  | 1224 | 1222 |
| 4.483% due 04/20/2070 •  | 29394 | 29422 |
| 4.487% due 01/16/2040 •  | 1585 | 1588 |
| 4.491% due 12/20/2068 •  | 4198 | 4244 |
| 4.513% due 09/20/2063 •  | 33 | 33 |
| 4.523% due 12/20/2053 - 04/20/2054 •  | 47654 | 47699 |
| 4.530% due 02/20/2040 •  | 1409 | 1413 |
| 4.533% due 11/20/2065 - 02/20/2067 •  | 1196 | 1199 |
| 4.560% due 04/20/2040 •  | 2927 | 2938 |
| 4.563% due 09/20/2066 •  | 222 | 222 |
| 4.573% due 06/20/2055 •  | 63711 | 64038 |
| 4.583% due 07/20/2066 •  | 502 | 503 |
| 4.590% due 03/20/2040 •  | 3071 | 3086 |
| 4.603% due 01/20/2074 •  | 13151 | 13366 |
| 4.613% due 08/20/2066 •  | 904 | 907 |
| 4.623% due 01/20/2054 - 09/20/2073 •  | 24185 | 24445 |
| 4.673% due 06/20/2055 •  | 1722 | 1734 |
| 4.677% due 06/20/2068 •  | 4847 | 4881 |
| 4.683% due 09/20/2069 •  | 622 | 627 |
| 4.703% due 07/20/2065 •  | 744 | 749 |
| 4.773% due 10/20/2055 - 05/20/2073 •  | 84286 | 84760 |
| 4.783% due 01/20/2066 - 12/20/2066 •  | 1320 | 1328 |
| 4.786% due 05/20/2060 •  | 525 | 530 |
| 4.787% due 05/20/2060 - 06/20/2060 •  | 1012 | 1019 |
| 4.823% due 06/20/2055 - 07/20/2055 •  | 10648 | 10738 |
| 4.833% due 02/20/2066 •  | 1986 | 1997 |
| 4.873% due 08/20/2055 •  | 8672 | 8720 |
| 5.227% due 06/20/2067 •  | 2009 | 2037 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.592% due 04/20/2067 •  | 443 | 448 |
| Total U.S. Government Agencies (Cost $2,280,242) |  | 2289250 |
| **U.S. TREASURY OBLIGATIONS 3.4%** |  |  |
| **U.S. Treasury Notes** |  |  |
| 3.875% due 03/31/2028 | 541600 | 542425 |
| Total U.S. Treasury Obligations (Cost $541,240) |  | 542425 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 1.3%** |  |  |
| **Arroyo Mortgage Trust**<br>1.175% due 10/25/2048 ~ | 7340 | 6700 |
| **Ashford Hospitality Trust**<br>4.745% due 04/15/2035 •  | 408 | 408 |
| **Bear Stearns ARM Trust**<br>5.013% due 08/25/2033 ~ | 198 | 194 |
| **COLT Mortgage Loan Trust**<br>1.397% due 10/25/2066 ~ | 19339 | 16524 |
| **CSMC Trust**<br>5.637% due 10/15/2037 •  | 8700 | 8604 |
| **GCAT Trust** |  |  |
| 2.650% due 10/25/2068 ~ | 773 | 756 |
| 2.885% due 12/27/2066 ~ | 16102 | 14915 |
| **Government National Mortgage Association REMICS** |  |  |
| 4.373% due 10/20/2075 •  | 27279 | 27421 |
| 4.443% due 09/20/2075 •  | 13952 | 14084 |
| 4.453% due 10/20/2075 •  | 20433 | 20604 |
| **JP Morgan Chase Commercial Mortgage Securities Trust**<br>5.287% due 09/15/2029 •  | 17535 | 17027 |
| **Legacy Mortgage Asset Trust**<br>5.892% due 10/25/2066 þ | 4070 | 4075 |
| **Mellon Residential Funding Corp. Mortgage Pass-Through Certificates**<br>4.487% due 11/15/2031 •  | 113 | 110 |
| **MF1 Trust**<br>4.743% due 12/15/2034 •  | 2700 | 2690 |
| **Mill City Mortgage Loan Trust**<br>2.750% due 07/25/2059 ~ | 189 | 186 |
| **Natixis Commercial Mortgage Securities Trust**<br>4.887% due 08/15/2038 •  | 2785 | 2735 |
| **OBX Trust**<br>3.783% due 01/25/2062 þ | 32159 | 31201 |
| **Starwood Mortgage Residential Trust**<br>1.027% due 11/25/2055 ~ | 1317 | 1267 |
| **Starwood Mortgage Trust**<br>4.645% due 11/15/2036 •  | 17200 | 17181 |
| **Towd Point Mortgage Trust** |  |  |
| 2.900% due 10/25/2059 ~ | 8755 | 8426 |
| 3.750% due 03/25/2058 ~ | 6106 | 5926 |
| 4.793% due 10/25/2059 •  | 589 | 589 |
| **Verus Securitization Trust**<br>0.820% due 10/25/2063 ~ | 1583 | 1534 |
| **VNDO Trust**<br>3.903% due 01/10/2035 ~ | 8875 | 8861 |
| Total Non-Agency Mortgage-Backed Securities (Cost $219,213) |  | 212018 |
| **ASSET-BACKED SECURITIES 13.5%** |  |  |
| **AUTOMOBILE ABS OTHER 4.8%** |  |  |
| **BMW Vehicle Lease Trust**<br>4.082% due 01/25/2027 •  | 482 | 482 |
| **BofA Auto Trust**<br>4.223% due 11/22/2027 •  | 4260 | 4262 |
| **CarMax Auto Owner Trust** |  |  |
| 4.042% due 08/15/2028 | 10562 | 10565 |
| 4.042% due 04/16/2029 •  | 22500 | 22511 |
| 4.082% due 03/15/2029 •  | 33700 | 33701 |
| 4.102% due 03/15/2028 •  | 14663 | 14662 |
| 4.122% due 12/15/2027 •  | 2717 | 2718 |
| 4.142% due 09/15/2027 •  | 2528 | 2528 |
| 4.362% due 07/17/2028 •  | 23732 | 23766 |
| **Chesapeake Funding II LLC** |  |  |
| 4.442% due 05/15/2036 •  | 4760 | 4766 |
| 4.922% due 05/15/2035 •  | 2454 | 2456 |
| **Ford Credit Auto Lease Trust**<br>4.082% (SOFR30A + 0.410%) due 08/15/2027 ~ | 11464 | 11467 |
| **Ford Credit Auto Owner Trust** |  |  |
| 0.000% due 01/15/2029 •  | 12000 | 12004 |
| 3.972% due 06/15/2028 •  | 39800 | 39788 |
| **GM Financial Automobile Leasing Trust** |  |  |
| 4.023% due 10/20/2027 •  | 19241 | 19246 |
| 4.083% due 05/20/2027 •  | 61072 | 61094 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.173% (SOFR30A + 0.500%) due 07/20/2027 ~ | 20267 | 20285 |
| **GM Financial Consumer Automobile Receivables Trust**<br>4.072% due 10/18/2027 •  | 4109 | 4109 |
| **Harley-Davidson Motorcycle Trust**<br>4.332% due 07/17/2028 •  | 8044 | 8054 |
| **Hyundai Auto Lease Securitization Trust** |  |  |
| 4.062% due 01/18/2028 | 32383 | 32399 |
| 4.072% due 06/15/2027 •  | 21850 | 21860 |
| 4.172% due 03/15/2027 •  | 3060 | 3061 |
| 4.372% due 09/15/2027 •  | 29461 | 29507 |
| **Hyundai Auto Receivables Trust** |  |  |
| 4.022% (SOFR30A + 0.350%) due 07/17/2028 ~ | 26600 | 26595 |
| 4.072% due 09/15/2027 •  | 7545 | 7547 |
| **M&T Bank Auto Receivables Trust**<br>4.172% due 05/15/2028 •  | 12085 | 12090 |
| **Nissan Auto Lease Trust** |  |  |
| 4.082% due 06/15/2027 •  | 7531 | 7533 |
| 4.122% due 11/15/2027 •  | 37251 | 37265 |
| 4.122% due 05/15/2028 •  | 103750 | 103786 |
| **Nissan Auto Receivables Owner Trust**<br>4.052% due 06/15/2027 •  | 4282 | 4282 |
| **SFS Auto Receivables Securitization Trust**<br>4.133% due 08/20/2029 •  | 30700 | 30701 |
| **Toyota Auto Receivables Owner Trust** |  |  |
| 4.062% due 08/16/2027 •  | 7552 | 7554 |
| 4.212% due 03/15/2028 •  | 21256 | 21274 |
| **Toyota Lease Owner Trust** |  |  |
| 4.003% due 02/22/2028 •  | 33000 | 32958 |
| 4.013% due 05/22/2028 •  | 20052 | 20061 |
| 4.083% due 07/20/2027 •  | 27333 | 27345 |
| **Volkswagen Auto Lease Trust**<br>4.043% due 04/20/2028 •  | 32037 | 32058 |
| **World Omni Auto Receivables Trust**<br>4.142% due 01/18/2028 •  | 125 | 125 |
| **World Omni Automobile Lease Securitization Trust**<br>4.062% due 12/15/2027 •  | 10872 | 10876 |
|  |  | 767341 |
| **AUTOMOBILE SEQUENTIAL 4.8%** |  |  |
| **Ally Auto Receivables Trust**<br>4.140% due 07/16/2029 | 3045 | 3047 |
| **ARI Fleet Lease Trust** |  |  |
| 4.590% due 03/15/2034 | 16622 | 16669 |
| 5.540% due 04/15/2033 | 4755 | 4779 |
| **Bank of America Auto Trust** |  |  |
| 5.390% due 07/16/2029 | 7350 | 7408 |
| 5.530% due 02/15/2028 | 4585 | 4609 |
| **BMW Vehicle Owner Trust** |  |  |
| 5.180% due 02/26/2029 | 18236 | 18360 |
| 5.470% due 02/25/2028 | 3131 | 3148 |
| **BofA Auto Trust** |  |  |
| 4.350% due 11/20/2029 | 5442 | 5460 |
| 4.520% due 11/22/2027 | 2764 | 2766 |
| 5.350% due 11/15/2028 | 8638 | 8697 |
| **Capital One Prime Auto Receivables Trust**<br>5.820% due 06/15/2028 | 10568 | 10667 |
| **CarMax Auto Owner Trust** |  |  |
| 4.420% due 08/15/2028 | 6633 | 6643 |
| 4.750% due 10/15/2027 | 1153 | 1155 |
| 4.920% due 10/16/2028 | 25890 | 26039 |
| 5.050% due 01/18/2028 | 4534 | 4546 |
| 5.280% due 05/15/2028 | 10159 | 10207 |
| 5.340% due 08/16/2027 | 633 | 633 |
| 5.500% due 01/16/2029 | 2789 | 2817 |
| 6.000% due 07/17/2028 | 11765 | 11884 |
| **Carvana Auto Receivables Trust** |  |  |
| 3.210% due 12/11/2028 | 774 | 768 |
| 4.070% due 02/12/2029 | 7484 | 7480 |
| 4.190% due 03/12/2029 | 56600 | 56589 |
| 4.260% due 10/10/2029 | 2709 | 2710 |
| 4.500% due 06/12/2028 | 1076 | 1076 |
| 4.560% due 08/10/2028 | 7850 | 7859 |
| 4.610% due 11/10/2027 | 1222 | 1223 |
| 4.640% due 01/10/2030 | 18581 | 18641 |
| 5.050% due 04/10/2029 | 14394 | 14459 |
| 5.330% due 07/10/2029 | 800 | 805 |
| 5.620% due 01/10/2029 | 517 | 520 |
| 6.160% due 10/10/2028 | 787 | 793 |
| **Chase Auto Owner Trust** |  |  |
| 4.180% due 08/27/2029 | 2100 | 2101 |
| 4.940% due 07/25/2029 | 17061 | 17171 |
| 5.680% due 01/25/2029 | 9830 | 9915 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Citizens Auto Receivables Trust** |  |  |
| 5.110% due 04/17/2028 | 12557 | 12607 |
| 5.330% due 08/15/2028 | 13618 | 13677 |
| 5.780% due 10/15/2030 | 5700 | 5764 |
| 5.830% due 02/15/2028 | 3893 | 3912 |
| 5.840% due 01/18/2028 | 3125 | 3137 |
| **Enterprise Fleet Financing LLC** |  |  |
| 3.849% due 02/22/2027 | 14501 | 14499 |
| 4.000% due 10/20/2028 | 22100 | 22053 |
| 4.500% due 04/20/2028 | 27900 | 27973 |
| 4.510% due 02/22/2028 | 31313 | 31390 |
| 4.650% due 10/20/2027 | 3024 | 3033 |
| 4.690% due 07/20/2027 | 23722 | 23777 |
| 5.310% due 04/20/2027 | 547 | 549 |
| 5.740% due 12/20/2026 | 3258 | 3262 |
| **Ford Credit Auto Owner Trust** |  |  |
| 4.320% due 08/15/2027 | 1859 | 1860 |
| 4.560% due 12/15/2028 | 1500 | 1506 |
| 4.650% due 02/15/2028 | 1158 | 1160 |
| 5.230% due 05/15/2028 | 1634 | 1641 |
| **GM Financial Automobile Leasing Trust**<br>4.540% due 05/20/2027 | 3804 | 3810 |
| **GM Financial Consumer Automobile Receivables Trust** |  |  |
| 4.660% due 02/16/2028 | 614 | 615 |
| 5.100% due 03/16/2029 | 13301 | 13376 |
| 5.130% due 04/16/2029 | 3627 | 3654 |
| 5.450% due 06/16/2028 | 2559 | 2572 |
| **GMF Floorplan Owner Revolving Trust**<br>5.340% due 06/15/2028 | 69041 | 69243 |
| **Honda Auto Receivables Owner Trust** |  |  |
| 4.560% due 03/15/2027 | 1000 | 1000 |
| 5.210% due 08/15/2028 | 1945 | 1958 |
| **Hyundai Auto Receivables Trust** |  |  |
| 4.410% due 05/15/2029 | 13193 | 13244 |
| 5.540% due 10/16/2028 | 18193 | 18330 |
| **M&T Bank Auto Receivables Trust** |  |  |
| 4.730% due 06/17/2030 | 1587 | 1600 |
| 5.220% due 02/17/2032 | 4287 | 4329 |
| **Mercedes-Benz Auto Receivables Trust**<br>4.800% due 04/16/2029 | 5335 | 5360 |
| **Nissan Auto Lease Trust**<br>4.600% due 11/15/2027 | 1382 | 1385 |
| **Nissan Auto Receivables Owner Trust**<br>4.340% due 03/15/2029 | 8971 | 8990 |
| **Oscar U.S. Funding XVII LLC**<br>4.470% due 03/12/2029 | 3025 | 3037 |
| **PenFed Auto Receivables Owner Trust**<br>4.120% due 09/15/2028 | 1863 | 1863 |
| **SBNA Auto Lease Trust** |  |  |
| 4.680% due 04/20/2027 | 182 | 182 |
| 5.560% due 11/22/2027 | 18362 | 18420 |
| **SCCU Auto Receivables Trust**<br>4.670% due 11/15/2028 | 4507 | 4515 |
| **SFS Auto Receivables Securitization Trust** |  |  |
| 4.650% due 05/22/2028 | 2325 | 2327 |
| 4.710% due 05/22/2028 | 17 | 17 |
| 4.950% due 05/21/2029 | 2919 | 2934 |
| 5.330% due 11/20/2029 | 13572 | 13698 |
| 5.470% due 10/20/2028 | 3227 | 3241 |
| **Stellantis Financial Underwritten Enhanced Lease Trust** |  |  |
| 4.310% due 05/22/2028 | 35237 | 35302 |
| 4.630% due 07/20/2027 | 11798 | 11819 |
| **Tesla Lease Electric Vehicle Securitization LLC**<br>4.140% due 06/20/2028 | 5983 | 5984 |
| **Toyota Auto Receivables Owner Trust** |  |  |
| 3.760% due 04/15/2027 | 326 | 325 |
| 4.630% due 09/15/2027 | 1370 | 1372 |
| 5.300% due 09/15/2027 | 1103 | 1106 |
| 5.330% due 01/16/2029 | 1452 | 1465 |
| **Upgrade Auto Receivables Trust**<br>4.540% due 05/15/2029 | 13142 | 13151 |
| **USAA Auto Owner Trust** |  |  |
| 5.030% due 03/15/2029 | 5950 | 5985 |
| 5.580% due 05/15/2028 | 744 | 748 |
| **USB Auto Owner Trust**<br>4.510% due 06/15/2028 | 7595 | 7606 |
| **Volkswagen Auto Loan Enhanced Trust**<br>5.020% due 06/20/2028 | 2258 | 2267 |
| **World Omni Auto Receivables Trust** |  |  |
| 4.430% due 12/17/2029 | 5440 | 5456 |
| 4.660% due 05/15/2028 | 1811 | 1814 |
| 4.780% due 01/18/2028 | 487 | 487 |
| 4.860% due 03/15/2029 | 10655 | 10703 |
| 5.610% due 02/15/2028 | 301 | 301 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.700% due 02/15/2029 | 2850 | 2880 |
|  |  | 771915 |
| **CMBS OTHER 0.1%** |  |  |
| **AREIT Trust**<br>4.922% due 01/20/2037 •  | 15834 | 15832 |
| **Starwood Ltd.**<br>5.022% due 11/15/2038 •  | 3026 | 3022 |
|  |  | 18854 |
| **CREDIT CARD BULLET 0.6%** |  |  |
| **Citibank Credit Card Issuance Trust**<br>4.557% due 05/14/2029 •  | 5550 | 5588 |
| **Evergreen Credit Card Trust**<br>4.231% due 10/15/2029 •  | 88000 | 88294 |
|  |  | 93882 |
| **CREDIT CARD OTHER 1.0%** |  |  |
| **Golden Credit Card Trust** |  |  |
| 1.140% due 08/15/2028 | 52270 | 51704 |
| 1.970% due 01/15/2029 | 35200 | 34606 |
| **Trillium Credit Card Trust II**<br>4.225% due 09/26/2030 •  | 63500 | 63782 |
|  |  | 150092 |
| **OTHER ABS 2.2%** |  |  |
| **Atlas Senior Loan Fund XVII Ltd.**<br>4.728% due 10/20/2034 •  | 1550 | 1550 |
| **BlueMountain CLO Ltd.** |  |  |
| 4.853% due 11/15/2030 •  | 690 | 691 |
| 4.858% due 10/25/2030 •  | 2403 | 2405 |
| **Boyce Park CLO Ltd.**<br>4.668% due 04/21/2035 •  | 20000 | 20006 |
| **CIFC Funding Ltd.**<br>4.880% due 10/24/2030 •  | 496 | 497 |
| **Commonbond Student Loan Trust**<br>4.643% due 05/25/2041 •  | 106 | 105 |
| **Crossroads Asset Trust**<br>4.910% due 02/20/2032 | 1460 | 1468 |
| **Dell Equipment Finance Trust**<br>4.680% due 07/22/2027 | 3783 | 3790 |
| **DLLAA LLC**<br>4.700% due 10/20/2027 | 14948 | 14985 |
| **Dryden 54 Senior Loan Fund**<br>4.818% due 10/19/2029 •  | 228 | 228 |
| **Dryden 64 CLO Ltd.**<br>4.899% due 04/18/2031 •  | 2460 | 2462 |
| **ELFI Graduate Loan Program LLC**<br>1.530% due 12/26/2046 | 4310 | 3901 |
| **Gallatin CLO VIII Ltd.**<br>5.024% due 07/15/2031 •  | 2787 | 2790 |
| **Golub Capital Partners CLO 60B Ltd.**<br>4.978% due 10/25/2034 •  | 6600 | 6607 |
| **HPEFS Equipment Trust**<br>4.070% due 11/22/2032 | 26600 | 26610 |
| **Kubota Credit Owner Trust**<br>5.450% due 04/15/2027 | 3444 | 3448 |
| **LCM 29 Ltd.**<br>5.004% due 04/15/2031 •  | 217 | 218 |
| **M&T Equipment Notes**<br>4.700% due 12/16/2027 | 11513 | 11554 |
| **MMAF Equipment Finance LLC**<br>5.200% due 09/13/2027 | 1613 | 1615 |
| **Mountain View CLO LLC**<br>4.547% due 04/14/2033 •  | 5800 | 5795 |
| **Navient Private Education Refi Loan Trust** |  |  |
| 0.840% due 05/15/2069 | 2540 | 2327 |
| 1.310% due 01/15/2069 | 5735 | 5453 |
| 1.580% due 04/15/2070 | 20799 | 18800 |
| 1.690% due 05/15/2069 | 3464 | 3310 |
| 2.230% due 07/15/2070 | 17109 | 15554 |
| 3.130% due 02/15/2068 | 656 | 649 |
| 4.000% due 12/15/2059 | 223 | 222 |
| 4.787% due 04/15/2069 •  | 4911 | 4889 |
| **Navient Refinance Loan Trust**<br>4.800% due 10/15/2055 | 29456 | 29331 |
| **Navient Student Loan Trust**<br>4.576% due 07/26/2066 •  | 3622 | 3600 |
| **Nelnet Student Loan Trust** |  |  |
| 1.420% due 04/20/2062 | 356 | 337 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.070% due 12/24/2035 •  | 736 | 731 |
| 4.576% due 09/25/2065 •  | 4412 | 4418 |
| 4.593% due 08/25/2067 •  | 7991 | 7975 |
| 4.610% due 02/21/2061 | 32896 | 32497 |
| 4.626% due 02/25/2066 •  | 4452 | 4436 |
| 4.973% due 02/21/2061 •  | 10358 | 10413 |
| **Palmer Square Loan Funding Ltd.** |  |  |
| 4.480% due 10/15/2032 •  | 7100 | 7099 |
| 4.660% due 01/15/2034 •  | 6300 | 6303 |
| **PEAC Solutions Receivables LLC**<br>4.940% due 10/20/2028 | 5065 | 5090 |
| **PHEAA Student Loan Trust**<br>4.726% due 11/25/2065 •  | 2262 | 2262 |
| **Post CLO Ltd.**<br>4.752% due 10/15/2034 •  | 800 | 801 |
| **SLM Private Credit Student Loan Trust**<br>4.246% due 12/15/2038 •  | 2040 | 2023 |
| **SLM Student Loan Trust** |  |  |
| 4.426% due 12/27/2038 •  | 1189 | 1178 |
| 4.476% due 01/25/2029 •  | 1446 | 1414 |
| **SMB Private Education Loan Trust** |  |  |
| 0.000% due 03/15/2056 •(a) | 24500 | 24338 |
| 1.290% due 07/15/2053 | 6395 | 6114 |
| 4.387% due 03/17/2053 •  | 2844 | 2826 |
| 4.887% due 07/15/2053 •  | 806 | 809 |
| **SoFi Consumer Loan Program Trust**<br>4.470% due 08/15/2034 | 5542 | 5543 |
| **SoFi Professional Loan Program LLC**<br>1.950% due 02/15/2046 | 6377 | 6009 |
| **Sound Point CLO XX Ltd.**<br>5.030% due 07/26/2031 •  | 70 | 70 |
| **Sounds Point CLO IV-R Ltd.**<br>5.079% due 04/18/2031 •  | 244 | 244 |
| **Verizon Master Trust**<br>4.343% due 08/20/2030 •  | 22600 | 22713 |
|  |  | 350503 |
| Total Asset-Backed Securities (Cost $2,155,211) |  | 2152587 |
| **SOVEREIGN ISSUES 0.8%** |  |  |
| **Korea National Oil Corp.**<br>4.739% (SOFRRATE + 1.080%) due 11/14/2026 ~ | 1250 | 1255 |
| **KSA Sukuk Ltd.**<br>5.250% due 06/04/2027 | 35200 | 35490 |
| **Mexico Government International Bonds**<br>4.150% due 03/28/2027 | 9100 | 9109 |
| **Saudi Government International Bonds**<br>5.125% due 01/13/2028 | 76600 | 77432 |
| Total Sovereign Issues (Cost $124,050) |  | 123286 |
| **SHORT-TERM INSTRUMENTS 11.3%** |  |  |
| **CERTIFICATES OF DEPOSIT 0.3%** |  |  |
| **Banco Itau Chile** |  |  |
| 4.150% due 08/11/2026 | 50000 | 49991 |
| 4.150% due 08/12/2026 | 1100 | 1100 |
|  |  | 51091 |
| **COMMERCIAL PAPER 10.7%** |  |  |
| **AES Corp.**<br>4.150% due 04/17/2026 | 23100 | 23055 |
| **Air Lease Corp.** |  |  |
| 4.320% due 04/02/2026 | 36900 | 36892 |
| 4.350% due 04/14/2026 | 8300 | 8287 |
| 4.400% due 04/14/2026 | 12900 | 12879 |
| 4.400% due 04/16/2026 | 10900 | 10880 |
| **Alimentation Couche-Tard, Inc.**<br>4.100% due 04/21/2026 | 43900 | 43796 |
| **AMETEK, Inc.**<br>3.900% due 04/09/2026 | 41500 | 41459 |
| **CBRE Services, Inc.**<br>3.970% due 06/12/2026 | 12400 | 12297 |
| **Constellation Energy Generation LLC** |  |  |
| 3.870% due 04/01/2026 | 47800 | 47794 |
| 3.870% due 04/02/2026 | 45600 | 45589 |
| **Crown Castle, Inc.** |  |  |
| 4.180% due 04/16/2026 | 36400 | 36332 |
| 4.200% due 04/14/2026 | 59700 | 59602 |
| 4.200% due 04/16/2026 | 35300 | 35234 |
| **Edison International** |  |  |
| 4.380% due 04/17/2026 | 61800 | 61678 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.380% due 04/27/2026 | 38300 | 38180 |
| **ERAC USA Finance LLC** |  |  |
| 4.150% due 04/24/2026 | 24500 | 24432 |
| 4.170% due 04/20/2026 | 24900 | 24843 |
| 4.170% due 04/23/2026 | 24900 | 24834 |
| 4.180% due 04/24/2026 | 10300 | 10272 |
| **Genuine Parts Co.**<br>4.300% due 04/23/2026 | 9200 | 9175 |
| **Global Payments, Inc.** |  |  |
| 4.200% due 04/01/2026 | 23700 | 23697 |
| 4.200% due 04/02/2026 | 44000 | 43990 |
| 4.200% due 04/06/2026 | 42300 | 42271 |
| 4.220% due 04/02/2026 | 16200 | 16196 |
| 4.220% due 04/06/2026 | 35500 | 35475 |
| 4.220% due 04/07/2026 | 58900 | 58858 |
| 4.230% due 04/07/2026 | 25800 | 25782 |
| **Harley-Davidson Financial Services, Inc.** |  |  |
| 4.170% due 04/07/2026 | 15600 | 15588 |
| 4.170% due 04/08/2026 | 13130 | 13118 |
| 4.170% due 04/16/2026 | 1900 | 1897 |
| **HCA, Inc.** |  |  |
| 4.100% due 04/02/2026 | 300 | 300 |
| 4.150% due 04/16/2026 | 23900 | 23855 |
| 4.150% due 04/17/2026 | 14000 | 13972 |
| 4.150% due 04/22/2026 | 10200 | 10173 |
| 4.200% due 05/06/2026 | 6600 | 6571 |
| 4.200% due 05/11/2026 | 78800 | 78407 |
| 4.200% due 05/12/2026 | 34900 | 34722 |
| 4.200% due 05/13/2026 | 1400 | 1393 |
| 4.200% due 05/18/2026 | 23300 | 23163 |
| 4.250% due 05/01/2026 | 5800 | 5778 |
| 4.380% due 04/23/2026 | 18900 | 18848 |
| 4.380% due 05/01/2026 | 2700 | 2690 |
| **Jabil, Inc.**<br>4.120% due 04/08/2026 | 34500 | 34466 |
| **Jones Lang LaSalle Finance BV** |  |  |
| 3.990% due 04/08/2026 | 37200 | 37167 |
| 4.000% due 04/08/2026 | 9700 | 9691 |
| 4.250% due 04/08/2026 | 15200 | 15187 |
| 4.250% due 04/09/2026 | 27584 | 27556 |
| **Keurig Dr. Pepper, Inc.** |  |  |
| 3.900% due 04/08/2026 | 2500 | 2498 |
| 3.900% due 04/15/2026 | 800 | 799 |
| 3.900% due 04/23/2026 | 13500 | 13463 |
| 3.920% due 04/27/2026 | 40100 | 39971 |
| 3.970% due 04/15/2026 | 10400 | 10382 |
| 4.100% due 04/09/2026 | 32400 | 32366 |
| 4.300% due 04/08/2026 | 17000 | 16984 |
| 4.300% due 04/13/2026 | 7900 | 7888 |
| 4.300% due 05/01/2026 | 26300 | 26202 |
| 4.350% due 05/08/2026 | 16300 | 16226 |
| 4.380% due 05/07/2026 | 56550 | 56299 |
| **Leidos, Inc.**<br>4.180% due 04/23/2026 | 35400 | 35306 |
| **Phillips 66** |  |  |
| 4.000% due 04/02/2026 | 74000 | 73984 |
| 4.050% due 04/01/2026 | 650 | 650 |
| 4.050% due 04/02/2026 | 800 | 800 |
| 4.100% due 04/08/2026 | 64050 | 63993 |
| 4.150% due 04/20/2026 | 11600 | 11574 |
| 4.300% due 04/24/2026 | 11900 | 11868 |
| 4.370% due 05/01/2026 | 32100 | 31988 |
| **Rogers Communications, Inc.** |  |  |
| 4.150% due 04/16/2026 | 11300 | 11280 |
| 4.200% due 04/09/2026 | 2700 | 2697 |
| **Targa Resources Corp.** |  |  |
| 3.950% due 05/01/2026 | 3600 | 3587 |
| 3.950% due 05/04/2026 | 1400 | 1395 |
| **VW Credit, Inc.**<br>4.220% due 05/06/2026 | 9500 | 9461 |
|  |  | 1709982 |
| **SHORT-TERM NOTES 0.3%** |  |  |
| **Carvana Auto Receivables Trust**<br>3.930% due 03/10/2027 | 27400 | 27402 |
| **HPEFS Equipment Trust**<br>4.153% due 10/20/2026 | 5502 | 5504 |
| **LAD Auto Receivables Trust**<br>3.871% due 02/16/2027 | 3818 | 3818 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Westlake Automobile Receivables Trust**<br>3.874% due 01/15/2027 | 9157 | 9156 |
|  |  | 45880 |
| Total Short-Term Instruments (Cost $1,807,163) |  | 1806953 |
| Total Investments in Securities (Cost $16,070,877) |  | 16069162 |
| Total Investments 100.6% (Cost $16,070,877) |  | $16069162 |
| **Financial Derivative Instruments** **(c)** **(0.0)**%(Cost or Premiums, net $0) |  | (204) |
| Other Assets and Liabilities, net (0.6)% |  | (89029) |
| Net Assets 100.0% |  | $15979929 |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (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.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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)** | **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)** | **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 | Coupon | Maturity<br>Date | Maturity<br>Date | Acquisition<br>Date | Acquisition<br>Date | Acquisition<br>Date | Cost |  | Market<br>Value | <br>Market Value<br>as Percentage<br>of Net Assets |
| BPCE SA | BPCE SA | % | 01/18/2028 | 01/18/2028 | 02/06/2026 | 02/06/2026 | 02/06/2026 | $1325 | $ | 1316 | 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** | **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 | Borrowing Rate<sup>(1)</sup> | Settlement Date | Settlement Date | Settlement Date | Maturity Date | Maturity Date | Maturity Date | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| JPS | JPS | 3.760% | 03/31/2026 | 03/31/2026 | 03/31/2026 | 04/01/2026 | 04/01/2026 | 04/01/2026 | (8811) | $(8811) | (8811) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  | $**(8811)** | **(8811)** |
| <sup>(1)</sup> | The average amount of borrowings outstanding during the period ended March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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 March 31, 2026 was $(13182) at a weighted average interest rate of 3.754%. 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** |
| **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** |
|  |  |  |  |  |  |  |  |  | <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 | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset |  | Liability |
| U.S. Treasury 5-Year Note June Futures | 06/2026 | 1450 | 1450 | $(156861) | (156861) | (156861) | $135 | 135 | $0 | $ | $(204) |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **135** | **135** | **0** | **$** | **(204)** |
| **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,966 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 03/31/2026 |  |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | 0 | $6000928 | 6000928 | $ | 0 | 6000928 |  |
| Industrials | Industrials | Industrials | 0 | 0 | 0 | 2161081 | 2161081 |  | 0 | 2161081 |  |
| Utilities | Utilities | Utilities | 0 | 0 | 0 | 780634 | 780634 |  | 0 | 780634 |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 | 0 | 2289250 | 2289250 |  | 0 | 2289250 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 | 0 | 542425 | 542425 |  | 0 | 542425 |  |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 0 | 0 | 212018 | 212018 |  | 0 | 212018 |  |
| 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 | 0 | 0 | 0 | 767341 | 767341 |  | 0 | 767341 |  |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | 0 | 0 | 0 | 771915 | 771915 |  | 0 | 771915 |  |
| CMBS Other | CMBS Other | CMBS Other | 0 | 0 | 0 | 18854 | 18854 |  | 0 | 18854 |  |
| Credit Card Bullet | Credit Card Bullet | Credit Card Bullet | 0 | 0 | 0 | 93882 | 93882 |  | 0 | 93882 |  |
| Credit Card Other | Credit Card Other | Credit Card Other | 0 | 0 | 0 | 150092 | 150092 |  | 0 | 150092 |  |
| Other ABS | Other ABS | Other ABS | 0 | 0 | 0 | 350503 | 350503 |  | 0 | 350503 |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 | 0 | 123286 | 123286 |  | 0 | 123286 |  |
| 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 |  |
| Certificates of Deposit | Certificates of Deposit | Certificates of Deposit | 0 | 0 | 0 | 51091 | 51091 |  | 0 | 51091 |  |
| Commercial Paper | Commercial Paper | Commercial Paper | 0 | 0 | 0 | 1709982 | 1709982 |  | 0 | 1709982 |  |

---

------

<br> Schedule of Investments PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Short-Term Notes | 0 | 45880 | 0 | 45880 |
| Total Investments | $0 | $16069162 | $0 | $16069162 |
| **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 | $(204) | $0 | $(204) |
| Total Financial Derivative Instruments | $0 | $(204) | $0 | $(204) |
| Totals | $0 | $16068958 | $0 | $16068958 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Inflation PLUS Active Exchange-Traded Fund March 31, 2026 (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 100.3% ¤** |  |  |
| **U.S. TREASURY OBLIGATIONS 100.3%** |  |  |
| **U.S. Treasury Inflation Protected Securities** **(a)** |  |  |
| 2.375% due 01/15/2027 | $3871 | $3939 |
| 0.125% due 07/15/2026 | 8549 | 8672 |
| 0.125% due 10/15/2026 | 2500 | 2521 |
| 0.125% due 04/15/2027 | 4953 | 4926 |
| Total U.S. Treasury Obligations (Cost $20,063) |  | 20058 |
| Total Investments in Securities (Cost $20,063) |  | 20058 |
| Total Investments 100.3% (Cost $20,063) |  | $20058 |
| **Financial Derivative Instruments** (b)**(c)** **0.0**%(Cost or Premiums, net $0) |  | 0 |
| Other Assets and Liabilities, net (0.3)% |  | (60) |
| Net Assets 100.0% |  | $19998 |

---

------

<br> Schedule of Investments PIMCO Inflation PLUS Active Exchange-Traded Fund (Cont.) March 31, 2026 (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.** |
| **(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.** |
| **(b)** | **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** |
| **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> |
| 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) |  | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Asset | Liability |
| Receive<sup>(1)</sup> | 3.677% | Maturity | 07/15/2026 | 2800 | 2800 | 0 | $ | 0 | 0 | 0 | 0 | 0 | 0 |
| Receive<sup>(1)</sup> | 3.685 | Maturity | 10/15/2026 | 3400 | 3400 | 0 |  | 0 | 0 | 0 | 0 | 0 | 0 |
| Receive<sup>(1)</sup> | 3.695 | Maturity | 01/15/2027 | 4100 | 4100 | 0 |  | 0 | 0 | 0 | 0 | 0 | 0 |
| Receive<sup>(1)</sup> | 3.699 | Annual | 04/15/2027 | 4900 | 4900 | 0 |  | 0 | 0 | 0 | 0 | 0 | 0 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **0** | **$** | **0** | **$** | **0** | **0** | **$** | **0** |
| <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. |
| **(c)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **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:** |
| **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 | Underlying<br>Reference | # of Shares | &nbsp;&nbsp; Financing Rate | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date |  | Notional<br>Amount | Premiums<br> Paid/(Received) | Premiums<br> Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; BPS | U.S. Treasury Inflation Protected Securities | N/A | &nbsp;&nbsp; 3.780% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.780% (SOFR plus a specified spread) | Maturity | $ | $11800 | 11800 | 0 | 0 | $0 | 0 | $0 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **0** | **$** | **0** | **0** | **0** |
| <sup>(1)</sup> | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. | 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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 2 | Level 2 | Level 3 | Level 3 | Level 3 | Fair Value<br>at 03/31/2026 |  |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | $ | 20058 | 20058 | $ | 0 | 0 | 20058 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | 0 | $ | 20058 | 20058 | $ | 0 | 0 | 20058 |  |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund March 31, 2026 (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 98.6% ¤** |  |  |
| **MUNICIPAL BONDS & NOTES 79.7%** |  |  |
| **ALABAMA 3.9%** |  |  |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2021**<br>2.770% (MUNIPSA) due 10/01/2052 ~ | $2000 | $1997 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2022**<br>5.250% due 02/01/2053 | 5000 | 5247 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2023** |  |  |
| 5.500% due 06/01/2049 | 2800 | 2945 |
| 5.500% due 10/01/2054 | 5000 | 5397 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2024** |  |  |
| 5.000% due 03/01/2055 | 7400 | 7839 |
| 5.000% due 10/01/2055 | 4800 | 5067 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2025**<br>5.000% due 12/01/2055 | 3300 | 3493 |
| **Black Belt Energy Gas District, Alabama Revenue Notes, Series 2025**<br>5.000% due 10/01/2035 | 11840 | 12343 |
| **Black Belt Energy Gas District, Alabama Revenue Notes, Series 2026**<br>5.000% due 07/01/2033 | 5700 | 5962 |
| **Energy Southeast A Cooperative District, Alabama Revenue Bonds, Series 2023**<br>5.750% due 04/01/2054 | 1500 | 1637 |
| **Energy Southeast A Cooperative District, Alabama Revenue Bonds, Series 2024**<br>5.250% due 07/01/2054 | 4700 | 5015 |
| **Healthcare Authority of Baptist Health, Alabama Revenue Bonds, Series 2023** |  |  |
| 5.000% due 11/15/2035 | 1500 | 1585 |
| 5.000% due 11/15/2036 | 1220 | 1282 |
| 5.000% due 11/15/2037 | 875 | 915 |
| **Huntsville Public Building Authority, Alabama Revenue Bonds, Series 2022**<br>5.000% due 02/01/2047 | 2210 | 2275 |
| **Jefferson County, Alabama Sewer Revenue Notes, Series 2024**<br>5.000% due 10/01/2031 | 3500 | 3824 |
| **Selma Industrial Development Board, Alabama Revenue Bonds, Series 2019**<br>3.450% due 11/01/2033 | 1900 | 1887 |
| **Southeast Alabama Gas Supply District Revenue Bonds, Series 2024**<br>5.000% due 06/01/2049 | 4400 | 4634 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2023**<br>5.000% due 01/01/2054 | 5950 | 6246 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2024**<br>5.000% due 11/01/2035 | 8700 | 8893 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2025** |  |  |
| 5.000% due 05/01/2055 | 2600 | 2751 |
| 5.000% due 01/01/2056 | 14400 | 14492 |
| **West Jefferson Industrial Development Board, Alabama Revenue Bonds, Series 1998**<br>3.650% due 06/01/2028 | 3600 | 3639 |
|  |  | 109365 |
| **ALASKA 0.2%** |  |  |
| **Alaska Housing Finance Corp. Revenue Bonds, Series 2022**<br>5.000% due 12/01/2033 | 1905 | 2073 |
| **Alaska Municipal Bond Bank Authority, Revenue Bonds, Series 2023**<br>5.000% due 12/01/2042 | 1000 | 1058 |
| **Northern Tobacco Securitization Corp. Alaska Revenue Bonds, Series 2021**<br>5.000% due 06/01/2033 | 2890 | 3120 |
|  |  | 6251 |
| **ARIZONA 0.7%** |  |  |
| **Maricopa County, Arizona & Phoenix Industrial Development Authorities Revenue Bonds, (GNMA Insured), Series 2025**<br>5.750% due 03/01/2056 | 2890 | 3149 |
| **Maricopa County, Arizona Industrial Development Authority Revenue Bonds, Series 2023**<br>5.000% due 01/01/2053 | 8500 | 8836 |
| **Phoenix Civic Improvement Corp. Arizona Revenue Bonds, Series 2017**<br>3.125% due 07/01/2034 | 425 | 411 |
| **Phoenix, Arizona General Obligation Refunding Notes, Series 2022**<br>5.000% due 07/01/2026 | 1500 | 1510 |
| **Salt River Project Agricultural Improvement & Power District, Arizona Revenue Bonds, Series 2025**<br>5.000% due 01/01/2043 | 5000 | 5439 |
|  |  | 19345 |
| **CALIFORNIA 4.1%** |  |  |
| **California Community Choice Financing Authority Revenue Bonds, Series 2023** |  |  |
| 5.000% due 02/01/2054 | 4700 | 4966 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.250% due 11/01/2054 | 7750 | 8180 |
| 5.500% due 10/01/2054 | 1870 | 2035 |
| **California Community Choice Financing Authority Revenue Bonds, Series 2024** |  |  |
| 5.000% due 05/01/2054 | 6100 | 6437 |
| 5.000% due 01/01/2055 | 895 | 914 |
| 5.000% due 02/01/2055 | 8100 | 8711 |
| 5.000% due 11/01/2055 | 4190 | 4277 |
| **California Community Choice Financing Authority Revenue Bonds, Series 2025**<br>5.000% due 10/01/2055 | 5400 | 5455 |
| **California Health Facilities Financing Authority Revenue Bonds, Series 2016** |  |  |
| 4.000% due 10/01/2036 | 1000 | 995 |
| 4.000% due 03/01/2039 | 1500 | 1407 |
| **California Health Facilities Financing Authority Revenue Bonds, Series 2020**<br>4.000% due 04/01/2040 | 3250 | 3223 |
| **California Health Facilities Financing Authority Revenue Bonds, Series 2024** |  |  |
| 5.000% due 12/01/2038 | 600 | 639 |
| 5.250% due 12/01/2042 | 3000 | 3170 |
| 5.250% due 12/01/2043 | 2825 | 2970 |
| **California Health Facilities Financing Authority Revenue Bonds, Series 2025**<br>5.000% due 10/01/2050 | 4400 | 4848 |
| **California Health Facilities Financing Authority Revenue Notes, Series 2025** |  |  |
| 5.000% due 12/01/2031 | 3250 | 3522 |
| 5.000% due 12/01/2035 | 7400 | 8180 |
| **California Municipal Finance Authority Revenue Bonds, (FNMA Insured),Series 2024**<br>4.450% due 12/01/2042 | 1100 | 1099 |
| **California Municipal Finance Authority Revenue Bonds, Series 2025**<br>3.998% due 11/20/2040 | 5082 | 4869 |
| **California State General Obligation Bonds, Series 2016**<br>4.000% due 09/01/2037 | 4495 | 4500 |
| **California State General Obligation Bonds, Series 2023**<br>4.000% due 09/01/2043 | 3100 | 3080 |
| **California State General Obligation Notes, Series 2022**<br>5.000% due 11/01/2026 | 6400 | 6498 |
| **California Statewide Communities Development Authority Revenue Bonds, Series 2006**<br>4.500% due 11/01/2033 | 3500 | 3609 |
| **Central Valley Energy Authority, California Revenue Notes, Series 2026**<br>5.000% due 08/01/2034 | 3300 | 3474 |
| **Chino Valley Unified School District, California General Obligation Bonds, Series 2022**<br>0.000% due 08/01/2041 (b) | 1500 | 777 |
| **Foothill-Eastern Transportation Corridor Agency, California Revenue Bonds, Series 2021**<br>4.000% due 01/15/2033 | 1007 | 1041 |
| **Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021**<br>2.746% due 06/01/2034 | 1955 | 1731 |
| **Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021**<br>2.687% due 06/01/2030 | 6000 | 5559 |
| **Long Beach, California Senior Airport Revenue Refunding Bonds, (AGM Insured), Series 2022**<br>5.000% due 06/01/2038 | 1000 | 1101 |
| **Los Angeles County, California Metropolitan Transportation Authority Sales Tax Revenue Bonds, Series 2020**<br>4.000% due 06/01/2036 | 3400 | 3517 |
| **Riverside Unified School District, California Special Tax Bonds, Series 2024** |  |  |
| 5.000% due 09/01/2039 | 500 | 518 |
| 5.000% due 09/01/2044 | 690 | 705 |
| **San Joaquin Valley Clean Energy Authority, California Revenue Bonds, Series 2025**<br>5.500% due 01/01/2056 | 3300 | 3596 |
|  |  | 115603 |
| **COLORADO 1.2%** |  |  |
| **Colorado Bridge & Tunnel Enterprise Revenue Bonds, (AGM Insured), Series 2024**<br>5.250% due 12/01/2049 | 300 | 316 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2018**<br>4.000% due 11/15/2048 | 6000 | 5284 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2019** |  |  |
| 5.000% due 08/01/2044 | 1365 | 1387 |
| 5.000% due 11/15/2049 | 1360 | 1379 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2022** |  |  |
| 5.250% due 11/01/2035 | 1200 | 1322 |
| 5.250% due 11/01/2037 | 1450 | 1579 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2024**<br>5.000% due 11/15/2059 | 5800 | 6209 |
| **Colorado Health Facilities Authority Revenue Notes, Series 2024**<br>5.000% due 05/15/2033 | 4500 | 4977 |
| **Colorado State Certificates of Participation Bonds, Series 2017**<br>4.000% due 03/15/2042 | 4000 | 3757 |
| **Colorado State Certificates of Participation Bonds, Series 2018**<br>4.000% due 12/15/2036 | 3455 | 3478 |
| **E-470 Public Highway Authority, Colorado Revenue Bonds, Series 2020**<br>5.000% due 09/01/2034 | 1300 | 1396 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **E-470 Public Highway Authority, Colorado Revenue Bonds, Series 2024**<br>3.182% (SOFRRATE) due 09/01/2039 ~ | 3400 | 3396 |
|  |  | 34480 |
| **CONNECTICUT 1.7%** |  |  |
| **Bridgeport, Connecticut General Obligation Notes, Series 2017**<br>5.000% due 08/15/2027 | 2690 | 2775 |
| **Connecticut Special Tax State Revenue Bonds, Series 2018** |  |  |
| 5.000% due 10/01/2033 | 1020 | 1070 |
| 5.000% due 01/01/2035 | 4290 | 4432 |
| **Connecticut Special Tax State Revenue Bonds, Series 2022**<br>5.000% due 07/01/2039 | 5000 | 5426 |
| **Connecticut State General Obligation Bonds, Series 2018**<br>5.000% due 09/15/2030 | 3640 | 3841 |
| **Connecticut State General Obligation Notes, Series 2022**<br>5.000% due 09/15/2028 | 2725 | 2888 |
| **Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2017**<br>2.300% due 07/01/2057 | 25000 | 25000 |
| **Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2018**<br>5.000% due 07/01/2029 | 1200 | 1263 |
| **Metropolitan District, Connecticut General Obligation Bonds, Series 2018**<br>5.000% due 07/15/2029 | 1845 | 1943 |
|  |  | 48638 |
| **DISTRICT OF COLUMBIA 1.8%** |  |  |
| **District of Columbia General Obligation Bonds, Series 2024**<br>5.000% due 08/01/2039 | 9155 | 10060 |
| **District of Columbia General Obligation Notes, Series 2024**<br>5.000% due 08/01/2031 | 3000 | 3323 |
| **District of Columbia Housing Finance Agency Revenue Notes, Series 2025**<br>3.150% due 02/01/2030 | 780 | 782 |
| **District of Columbia Income Tax Revenue Bonds, Series 2025**<br>5.000% due 06/01/2041 | 5500 | 6037 |
| **District of Columbia Income Tax Revenue Notes, Series 2025**<br>5.000% due 06/01/2028 | 8500 | 8951 |
| **District of Columbia Revenue Bonds, Series 2025**<br>5.000% due 04/01/2060 | 13000 | 14235 |
| **Washington Metropolitan Area Transit Authority, District of Columbia Revenue Bonds, Series 2017** |  |  |
| 5.000% due 07/01/2031 | 2075 | 2126 |
| 5.000% due 07/01/2033 | 5000 | 5111 |
|  |  | 50625 |
| **FLORIDA 2.7%** |  |  |
| **Duval County, Florida Public Schools Certificates of Participation Notes, (AGC Insured), Series 2025** |  |  |
| 5.000% due 07/01/2029 | 3450 | 3696 |
| 5.000% due 07/01/2030 | 2000 | 2178 |
| **Florida Housing Finance Corp. Revenue Bonds, Series 2024**<br>3.500% due 11/01/2042 | 3000 | 3024 |
| **Florida's Turnpike Enterprise Revenue Bonds, Series 2018**<br>4.000% due 07/01/2048 | 4500 | 4197 |
| **Hillsborough County, Florida Industrial Development Authority Revenue Bonds, Series 2024**<br>2.750% due 11/15/2054 | 17000 | 17000 |
| **Jacksonville Housing Authority, Florida Revenue Notes, Series 2024**<br>5.000% due 02/01/2034 | 1500 | 1621 |
| **Jacksonville Housing Finance Authority, Florida Revenue Bonds, Series 2025**<br>3.150% due 01/01/2046 | 2300 | 2303 |
| **JEA Electric System, Florida Revenue Notes, Series 2024**<br>5.000% due 10/01/2034 | 4500 | 5107 |
| **JEA Water & Sewer System, Florida Revenue Bonds, Series 2020**<br>4.000% due 10/01/2039 | 1000 | 1005 |
| **Lee County Industrial Development Authority, Florida Revenue Bonds, Series 2026**<br>5.000% due 04/01/2065 | 4000 | 4403 |
| **Miami-Dade County, Florida Aviation Revenue Bonds, Series 2020**<br>5.000% due 10/01/2032 | 1000 | 1085 |
| **Miami-Dade County, Florida Educational Facilities Authority Revenue Bonds, Series 2025**<br>5.250% due 04/01/2038 | 6000 | 6677 |
| **Miami-Dade County, Florida Transit System Revenue Bonds, Series 2017**<br>4.000% due 07/01/2033 | 3000 | 3005 |
| **Miami-Dade County, Florida Water & Sewer System Revenue Notes, Series 2024**<br>5.000% due 10/01/2032 | 2750 | 3080 |
| **Orange County Health Facilities Authority, Florida Revenue Notes, Series 2023**<br>5.000% due 10/01/2028 | 1450 | 1529 |
| **Orlando Utilities Commission, Florida Revenue Bonds, Series 2021**<br>1.250% due 10/01/2046 | 3500 | 3266 |
| **Osceola County, Florida Transportation Revenue Bonds, Series 2020**<br>0.000% due 10/01/2034 (b) | 1850 | 1291 |
| **Osceola County, Florida Transportation Revenue Notes, Series 2020** |  |  |
| 0.000% due 10/01/2027 (b) | 350 | 331 |
| 0.000% due 10/01/2029 (b) | 700 | 613 |
| **Palm Beach County, Florida School District Certificates of Participation Notes, Series 2025**<br>5.000% due 08/01/2032 | 2295 | 2565 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **School Board of Miami-Dade County, Florida General Obligation Bonds, (BAM Insured), Series 2022**<br>5.000% due 03/15/2052 | 5000 | 5078 |
| **South Broward Hospital District, Florida Revenue Bonds, Series 2016**<br>4.000% due 05/01/2044 | 3300 | 3014 |
| **Tampa, Florida Revenue Bonds, Series 2020**<br>0.000% due 09/01/2033 (b) | 200 | 152 |
|  |  | 76220 |
| **GEORGIA 2.2%** |  |  |
| **Bartow County, Georgia Development Authority Revenue Bonds, Series 1997**<br>1.800% due 09/01/2029 | 2000 | 1853 |
| **Brookhaven Development Authority, Georgia Revenue Bonds, Series 2019**<br>5.000% due 07/01/2038 | 1800 | 1883 |
| **Cobb County, Georgia Kennestone Hospital Authority Revenue Bonds, Series 2017**<br>5.000% due 04/01/2028 | 600 | 613 |
| **Cobb County, Georgia Kennestone Hospital Authority Revenue Bonds, Series 2023** |  |  |
| 5.000% due 04/01/2042 | 2875 | 3035 |
| 5.000% due 04/01/2043 | 3375 | 3541 |
| **Development Authority of Burke County, Georgia Revenue Bonds, Series 2008**<br>3.375% due 11/01/2048 | 4500 | 4515 |
| **Fulton County, Georgia Development Authority Revenue Bonds, Series 2019**<br>5.000% due 07/01/2030 | 1000 | 1074 |
| **Gainesville & Hall County, Georgia Hospital Authority Revenue Notes, Series 2024**<br>5.000% due 10/15/2030 | 3000 | 3259 |
| **LaGrange-Troup County, Georgia Hospital Authority Revenue Bonds, Series 2017**<br>5.000% due 04/01/2028 | 700 | 715 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2021**<br>4.000% due 07/01/2052 | 700 | 708 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2022**<br>4.000% due 09/01/2052 | 1915 | 1935 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2023** |  |  |
| 5.000% due 06/01/2053 | 1000 | 1047 |
| 5.000% due 12/01/2053 | 7600 | 8048 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2024** |  |  |
| 5.000% due 05/01/2054 | 1800 | 1908 |
| 5.000% due 12/01/2054 | 1800 | 1922 |
| 5.000% due 05/01/2055 | 3400 | 3569 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2025**<br>5.000% due 12/01/2055 | 15300 | 16074 |
| **Municipal Electric Authority of Georgia Revenue Bonds, Series 2019**<br>5.000% due 01/01/2031 | 1200 | 1251 |
| **Municipal Electric Authority of Georgia Revenue Bonds, Series 2022**<br>4.500% due 07/01/2063 | 2000 | 1831 |
| **Municipal Electric Authority of Georgia Revenue Notes, Series 2021**<br>5.000% due 01/01/2027 | 200 | 203 |
| **Municipal Electric Authority of Georgia Revenue Notes, Series 2024**<br>5.000% due 01/01/2033 | 2500 | 2783 |
|  |  | 61767 |
| **IDAHO 0.3%** |  |  |
| **Idaho Health Facilities Authority Revenue Bonds, Series 2025**<br>5.000% due 03/01/2060 | 3200 | 3448 |
| **Idaho Housing & Finance Association Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>4.450% due 01/01/2044 | 2255 | 2233 |
| **Idaho Housing & Finance Association Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.250% due 01/01/2056 | 2750 | 3097 |
|  |  | 8778 |
| **ILLINOIS 4.0%** |  |  |
| **Illinois Finance Authority Revenue Bonds, Series 2016**<br>5.000% due 02/15/2041 | 3620 | 3669 |
| **Illinois Finance Authority Revenue Bonds, Series 2018**<br>5.000% due 05/15/2043 | 5300 | 5398 |
| **Illinois Finance Authority Revenue Bonds, Series 2020**<br>2.700% due 08/15/2049 | 7600 | 7600 |
| **Illinois Finance Authority Revenue Bonds, Series 2022**<br>2.700% due 08/15/2057 | 19000 | 19000 |
| **Illinois Finance Authority Revenue Bonds, Series 2025**<br>5.000% due 08/15/2038 | 8320 | 8953 |
| **Illinois Finance Authority Revenue Notes, Series 2025**<br>5.000% due 08/15/2033 | 3500 | 3849 |
| **Illinois Sales Tax State Revenue Bonds, Series 2024**<br>5.000% due 06/15/2040 | 1195 | 1271 |
| **Illinois State General Obligation Bonds, Series 2021**<br>5.000% due 03/01/2037 | 5860 | 6148 |
| **Illinois State General Obligation Bonds, Series 2023**<br>5.000% due 12/01/2043 | 1295 | 1335 |
| **Illinois State General Obligation Bonds, Series 2025**<br>5.000% due 09/01/2042 | 5350 | 5579 |
| **Illinois State General Obligation Notes, Series 2020**<br>5.500% due 05/01/2030 | 7000 | 7420 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Illinois State General Obligation Notes, Series 2024**<br>5.000% due 05/01/2032 | 5000 | 5463 |
| **Illinois State Toll Highway Authority Revenue Bonds, Series 2015**<br>5.000% due 01/01/2040 | 2100 | 2100 |
| **Illinois State Toll Highway Authority Revenue Bonds, Series 2019**<br>5.000% due 01/01/2030 | 2500 | 2651 |
| **Illinois State Toll Highway Authority Revenue Bonds, Series 2020**<br>5.000% due 01/01/2045 | 14400 | 14906 |
| **Illinois State Toll Highway Authority Revenue Bonds, Series 2024** |  |  |
| 5.000% due 01/01/2035 | 2600 | 2925 |
| 5.000% due 01/01/2036 | 5000 | 5567 |
| **Metropolitan Pier & Exposition Authority, Illinois Revenue Bonds, Series 2022** |  |  |
| 0.000% due 06/15/2036 (b) | 500 | 332 |
| 0.000% due 06/15/2037 (b) | 1500 | 943 |
| **Regional Transportation Authority, Illinois Revenue Bonds, Series 2025**<br>5.000% due 06/01/2038 | 2520 | 2792 |
| **Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2018**<br>5.000% due 01/01/2037 | 1350 | 1378 |
| **Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2023**<br>5.000% due 01/01/2037 | 1000 | 1044 |
|  |  | 110323 |
| **INDIANA 1.0%** |  |  |
| **Indiana Finance Authority Revenue Bonds, Series 2010** |  |  |
| 2.500% due 11/01/2030 | 3825 | 3645 |
| 2.550% due 05/01/2028 | 4725 | 4724 |
| **Indiana Finance Authority Revenue Bonds, Series 2012** |  |  |
| 3.000% due 11/01/2030 | 2100 | 2045 |
| 4.250% due 11/01/2030 | 1500 | 1539 |
| **Indiana Finance Authority Revenue Bonds, Series 2018**<br>5.000% due 02/01/2030 | 1500 | 1562 |
| **Indiana Finance Authority Revenue Bonds, Series 2023** |  |  |
| 5.000% due 10/01/2036 | 1000 | 1107 |
| 5.000% due 10/01/2037 | 800 | 880 |
| **Indiana Finance Authority Revenue Bonds, Series 2025**<br>5.000% due 10/01/2057 | 3000 | 3326 |
| **Indiana Finance Authority Revenue Notes, Series 2024** |  |  |
| 5.000% due 03/01/2031 | 600 | 644 |
| 5.000% due 03/01/2032 | 700 | 758 |
| **Indianapolis Local Public Improvement Bond Bank, Indiana Revenue Bonds, Series 2023**<br>6.000% due 02/01/2048 | 4000 | 4386 |
| **Whiting, Indiana Revenue Bonds, Series 2008**<br>4.200% due 06/01/2044 | 3900 | 4017 |
|  |  | 28633 |
| **IOWA 0.2%** |  |  |
| **Iowa Finance Authority Midwestern Disaster Area Revenue Refunding Bonds, Series 2022** |  |  |
| 4.000% due 12/01/2050 | 3000 | 3200 |
| 5.000% due 12/01/2050 | 800 | 902 |
|  |  | 4102 |
| **KANSAS 0.1%** |  |  |
| **Leavenworth County, Kansas Unified School District No 458 General Obligation Bonds, Series 2024**<br>5.000% due 09/01/2041 | 2105 | 2190 |
| **KENTUCKY 1.7%** |  |  |
| **Kentucky Bond Development Corp. Revenue Bonds, Series 2025**<br>5.000% due 08/15/2055 | 4500 | 4917 |
| **Kentucky Economic Development Finance Authority Revenue Bonds, Series 2010**<br>2.550% due 05/01/2028 | 7300 | 7299 |
| **Kentucky Economic Development Finance Authority Revenue Bonds, Series 2015**<br>5.000% due 07/01/2040 | 1650 | 1651 |
| **Kentucky Public Energy Authority Revenue Bonds, Series 2024**<br>5.000% due 01/01/2055 | 1800 | 1906 |
| **Kentucky Public Energy Authority Revenue Bonds, Series 2025**<br>5.250% due 06/01/2055 | 1700 | 1800 |
| **Kentucky Public Energy Authority Revenue Notes, Series 2025**<br>5.000% due 05/01/2036 | 23500 | 24754 |
| **Kentucky State Property & Building Commission Revenue Bonds,Series 2024**<br>4.375% due 09/01/2040 | 5785 | 6024 |
|  |  | 48351 |
| **LOUISIANA 0.8%** |  |  |
| **East Baton Rouge Sewerage Commission, Louisiana Revenue Bonds, Series 2019**<br>4.000% due 02/01/2045 | 13100 | 12612 |
| **Louisiana Local Government Environmental Facilities & Community Development Auth Revenue Notes, Series 2022** |  |  |
| 5.000% due 08/15/2027 | 1200 | 1241 |
| 5.000% due 08/15/2028 | 1200 | 1233 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Louisiana Public Facilities Authority Revenue Bonds, (AGM Insured), Series 2025** |  |  |
| 5.000% due 01/01/2037 | 960 | 1066 |
| 5.000% due 07/01/2040 | 700 | 758 |
| **Louisiana Public Facilities Authority Revenue Bonds, Series 2023**<br>5.000% due 10/15/2036 | 1000 | 1088 |
| **Louisiana Public Facilities Authority Revenue Notes, Series 2025**<br>5.000% due 05/15/2030 | 4400 | 4721 |
|  |  | 22719 |
| **MARYLAND 1.5%** |  |  |
| **Baltimore County, Maryland General Obligation Bonds , Series 2026**<br>5.000% due 03/01/2038 | 7745 | 8799 |
| **Maryland Department of Housing & Community Development Corp. Revenue Bonds, Series 2025**<br>6.250% due 09/01/2056 | 6880 | 7634 |
| **Maryland Department of Transportation State Revenue Bonds, Series 2019**<br>4.000% due 10/01/2032 | 1450 | 1472 |
| **Maryland Economic Development Corp. Revenue Bonds, Series 2025**<br>5.000% due 07/01/2048 | 6000 | 6401 |
| **Maryland Health & Higher Educational Facilities Authority Revenue Bonds, Series 2021** |  |  |
| 4.000% due 06/01/2035 | 450 | 440 |
| 4.000% due 06/01/2037 | 225 | 216 |
| **Maryland Health & Higher Educational Facilities Authority Revenue Bonds, Series 2025**<br>5.000% due 07/01/2045 | 2200 | 2364 |
| **Maryland Health & Higher Educational Facilities Authority Revenue Notes, Series 2021**<br>5.000% due 06/01/2031 | 350 | 369 |
| **Maryland State General Obligation Bonds, Series 2022**<br>5.000% due 06/01/2037 | 3490 | 3820 |
| **Washington Suburban Sanitary Commission, Maryland Revenue Bonds, (CNTY Insured), Series 2013**<br>2.850% due 06/01/2027 | 9840 | 9840 |
|  |  | 41355 |
| **MASSACHUSETTS 0.8%** |  |  |
| **Commonwealth of Massachusetts General Obligation Bonds, Series 2025** |  |  |
| 5.000% due 07/01/2036 | 5000 | 5703 |
| 5.000% due 04/01/2040 | 1750 | 1941 |
| 5.000% due 04/01/2042 | 2000 | 2188 |
| 5.000% due 04/01/2043 | 2500 | 2719 |
| 5.000% due 08/01/2048 | 6500 | 6811 |
| **Massachusetts Development Finance Agency Revenue Bonds, Series 2018**<br>5.000% due 07/01/2030 | 1500 | 1563 |
|  |  | 20925 |
| **MICHIGAN 2.3%** |  |  |
| **Detroit, Michigan Sewage Disposal System Revenue Bonds, (AGM Insured), Series 2006**<br>3.228% (TSFR3M) due 07/01/2032 ~ | 3000 | 2991 |
| **Grand Traverse County, Michigan Hospital Finance Authority Revenue Notes, Series 2021** |  |  |
| 5.000% due 07/01/2029 | 1175 | 1251 |
| 5.000% due 07/01/2030 | 1715 | 1851 |
| **Great Lakes Water Authority Sewage Disposal System, Michigan Revenue Bonds, Series 2023**<br>5.000% due 07/01/2037 | 5000 | 5505 |
| **Michigan Finance Authority Hospital Revenue Refunding Bonds, Series 2022**<br>3.170% (MUNIPSA) due 04/15/2047 ~ | 3500 | 3493 |
| **Michigan Finance Authority Hospital Revenue Refunding Notes, Series 2022**<br>5.000% due 04/15/2030 | 2000 | 2162 |
| **Michigan Finance Authority Revenue Bonds, Series 2020**<br>5.000% due 06/01/2040 | 5000 | 5144 |
| **Michigan Finance Authority Revenue Bonds, Series 2024**<br>5.000% due 02/28/2039 | 1290 | 1364 |
| **Michigan Finance Authority Revenue Notes, Series 2024**<br>5.000% due 08/31/2034 | 1930 | 2121 |
| **Michigan State Building Authority Revenue Bonds, Series 2023**<br>5.000% due 10/15/2037 | 1000 | 1104 |
| **Michigan State Hospital Finance Authority Revenue Notes, Series 2025**<br>5.000% due 08/15/2035 | 4600 | 5166 |
| **Michigan State Housing Development Authority Revenue Bonds, Series 2024**<br>6.250% due 06/01/2055 | 1770 | 1936 |
| **Michigan State Housing Development Authority Revenue Bonds, Series 2025**<br>6.000% due 06/01/2056 | 19900 | 21912 |
| **Michigan Trunk Line State Revenue Bonds, Series 2023**<br>5.000% due 11/15/2038 | 1800 | 1978 |
| **Northern Michigan University Revenue Bonds, Series 2025**<br>5.250% due 06/01/2046 | 1890 | 2012 |
| **Western Michigan University Revenue Notes, (AGC Insured), Series 2025** |  |  |
| 5.000% due 11/15/2031 | 2730 | 3010 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.000% due 11/15/2033 | 2020 | 2267 |
|  |  | 65267 |
| **MINNESOTA 0.7%** |  |  |
| **Fairview Health Services Obligated Group, Minnesota Revenue Bonds, Series 2017**<br>5.000% due 11/15/2033 | 3410 | 3472 |
| **Housing & Redevelopment Authority of The City of St Paul Minnesota Revenue Notes, Series 2025** |  |  |
| 5.000% due 07/01/2030 | 8000 | 8581 |
| 5.000% due 07/01/2032 | 2000 | 2182 |
| **Minneapolis, Minnesota Revenue Bonds, Series 2023**<br>5.000% due 11/15/2052 | 3060 | 3207 |
| **St Cloud, Minnesota Revenue Bonds, Series 2019**<br>5.000% due 05/01/2048 | 1800 | 1816 |
| **St Cloud, Minnesota Revenue Bonds, Series 2024**<br>5.000% due 05/01/2039 | 1000 | 1077 |
|  |  | 20335 |
| **MISSISSIPPI 0.1%** |  |  |
| **Mississippi Business Finance Corp. Revenue Bonds, Series 2002**<br>3.200% due 09/01/2028 | 1500 | 1500 |
| **Mississippi Development Bank Revenue Bonds, Series 2025**<br>5.000% due 03/01/2040 | 1000 | 1061 |
| **Mississippi Development Bank Revenue Notes, Series 2024**<br>5.000% due 01/01/2031 | 1250 | 1369 |
|  |  | 3930 |
| **MISSOURI 0.6%** |  |  |
| **Health & Educational Facilities Authority of the State of Missouri Revenue Bonds, Series 2012**<br>4.000% due 11/15/2042 | 2700 | 2570 |
| **Health & Educational Facilities Authority of the State of Missouri Revenue Notes, Series 2023**<br>5.000% due 05/01/2033 | 4000 | 4477 |
| **Missouri Housing Development Commission Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025** |  |  |
| 6.000% due 05/01/2056 | 7000 | 7707 |
| 6.250% due 05/01/2056 | 1700 | 1892 |
|  |  | 16646 |
| **MULTI-STATE 3.3%** |  |  |
| **FHLMC Multifamily VRD Certificates, New York Revenue Bonds, Series 2025**<br>4.604% due 06/25/2042 | 2793 | 2860 |
| **FHLMC Multifamily VRD Certificates, Revenue Bonds, Series 2025** |  |  |
| 4.534% due 11/25/2042 | 15387 | 15743 |
| 4.869% due 01/25/2043 | 20876 | 21746 |
| **Freddie Mac Multifamily ML Certificates, Revenue Bonds, Series 2023** |  |  |
| 4.033% due 12/25/2036 | 8298 | 8243 |
| 4.144% due 01/25/2040 | 10690 | 10603 |
| 4.555% due 08/25/2040 | 13076 | 13152 |
| **Freddie Mac Multifamily ML Certificates, Revenue Bonds, Series 2024** |  |  |
| 4.291% due 04/25/2042 ~ | 4961 | 5202 |
| 4.326% due 08/25/2041 ~ | 6645 | 6818 |
| 4.686% due 10/25/2040 | 6403 | 6503 |
|  |  | 90870 |
| **NEBRASKA 0.1%** |  |  |
| **Omaha Public Power District, Nebraska Revenue Bonds, Series 2024**<br>5.000% due 02/01/2042 | 3625 | 3878 |
| **NEVADA 1.2%** |  |  |
| **Clark County, Nevada Department of Highway Revenue Bonds, Series 2024**<br>4.000% due 07/01/2042 | 5000 | 4955 |
| **Clark County, Nevada Revenue Bonds, Series 2010**<br>2.100% due 06/01/2031 | 5000 | 4544 |
| **Humboldt County, Nevada Revenue Bonds, Series 2016**<br>3.550% due 10/01/2029 | 5000 | 5060 |
| **Las Vegas Redevelopment Agency, Nevada Tax Allocation Bonds, Series 2016**<br>5.000% due 06/15/2031 | 1465 | 1468 |
| **Nevada State General Obligation Bonds, Series 2023**<br>5.000% due 05/01/2040 | 10000 | 10890 |
| **Washoe County School District, Nevada General Obligation Bonds, Series 2023**<br>4.125% due 06/01/2041 | 4235 | 4293 |
| **Washoe County, Nevada Revenue Bonds, Series 2016**<br>3.625% due 03/01/2036 | 2500 | 2517 |
|  |  | 33727 |
| **NEW HAMPSHIRE 1.7%** |  |  |
| **New Hampshire Business Finance Authority Affordable Housing Bonds, Series 2024**<br>4.150% due 10/20/2040 | 5073 | 5022 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **New Hampshire Business Finance Authority Revenue Bonds, Series 2023**<br>3.875% due 01/20/2038 | 4836 | 4633 |
| **New Hampshire Business Finance Authority Revenue Bonds, Series 2024**<br>4.162% due 10/01/2051 | 1385 | 1328 |
| **New Hampshire Business Finance Authority Revenue Bonds, Series 2025** |  |  |
| 3.824% due 11/20/2042 | 9143 | 8785 |
| 3.922% due 01/20/2041 ~ | 6243 | 6047 |
| 4.946% due 02/20/2041 | 8377 | 8582 |
| **New Hampshire Health and Education Facilities Authority Act Revenue Notes, Series 2025** |  |  |
| 5.000% due 08/01/2033 | 4000 | 4430 |
| 5.000% due 08/01/2034 | 1700 | 1893 |
| **New Hampshire Housing Finance Authority Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>6.500% due 07/01/2055 | 5125 | 5746 |
|  |  | 46466 |
| **NEW JERSEY 1.9%** |  |  |
| **Federal Home Loan Mortgage Corp. Enhanced Receipt, New Jersey Revenue Bonds, Series 2019**<br>3.870% due 11/15/2035 (e) | 12466 | 11255 |
| **New Jersey Economic Development Authority Revenue Bonds, Series 2015**<br>5.250% due 06/15/2027 | 975 | 976 |
| **New Jersey Economic Development Authority Revenue Bonds, Series 2022**<br>5.000% due 11/01/2036 | 2500 | 2728 |
| **New Jersey Housing & Mortgage Finance Agency Revenue Bonds, Series 2025** |  |  |
| 3.150% due 12/01/2043 | 1090 | 1092 |
| 6.500% due 04/01/2056 | 2400 | 2679 |
| **New Jersey State General Obligation Notes, Series 2020**<br>5.000% due 06/01/2026 | 2000 | 2009 |
| **New Jersey Transportation Trust Fund Authority Revenue Bonds, Series 2009**<br>0.000% due 12/15/2034 (b) | 1500 | 1096 |
| **New Jersey Transportation Trust Fund Authority Revenue Bonds, Series 2018**<br>5.000% due 12/15/2036 | 1380 | 1436 |
| **New Jersey Transportation Trust Fund Authority Revenue Bonds, Series 2023** |  |  |
| 5.000% due 06/15/2036 | 6500 | 7163 |
| 5.000% due 06/15/2037 | 10985 | 12037 |
| **Tobacco Settlement Financing Corp. New Jersey Revenue Bonds, Series 2018** |  |  |
| 5.000% due 06/01/2031 | 7870 | 8154 |
| 5.000% due 06/01/2046 | 2100 | 2045 |
|  |  | 52670 |
| **NEW MEXICO 0.7%** |  |  |
| **Farmington, New Mexico Revenue Bonds, Series 2005**<br>1.800% due 04/01/2029 | 5000 | 4694 |
| **Farmington, New Mexico Revenue Bonds, Series 2010**<br>3.875% due 06/01/2040 | 7000 | 7160 |
| **New Mexico Hospital Equipment Loan Council Revenue Bonds, Series 2017**<br>4.000% due 08/01/2039 | 7950 | 7434 |
|  |  | 19288 |
| **NEW YORK 8.5%** |  |  |
| **Battery Park City Authority, New York Revenue Bonds, Series 2019**<br>5.000% due 11/01/2040 | 2500 | 2613 |
| **Long Island Power Authority, New York Revenue Bonds, Series 2023**<br>5.000% due 09/01/2040 | 1665 | 1812 |
| **Monroe County, New York Industrial Development Agency Revenue Bonds, (FNMA Insured),Series 2023**<br>4.720% due 01/01/2044 | 1800 | 1795 |
| **Nassau County, New York General Obligation Notes, Series 2016**<br>5.000% due 04/01/2026 | 1360 | 1360 |
| **New York City, New York General Obligation Bonds, Series 2015**<br>2.850% due 06/01/2044 | 5000 | 5000 |
| **New York City, New York General Obligation Bonds, Series 2017**<br>2.850% due 10/01/2046 | 14200 | 14200 |
| **New York City, New York General Obligation Bonds, Series 2018**<br>2.850% due 12/01/2047 | 10000 | 10000 |
| **New York City, New York Industrial Development Agency Revenue Notes, (AGM Insured), Series 2021**<br>5.000% due 01/01/2030 | 2005 | 2153 |
| **New York City, New York Municipal Water Finance Authority Revenue Bonds, Series 2013**<br>2.650% due 06/15/2048 | 20000 | 20000 |
| **New York City, New York Municipal Water Finance Authority Revenue Notes, Series 2022**<br>5.000% due 06/15/2028 | 2000 | 2112 |
| **New York City, New York Transitional Finance Authority Building Aid Revenue Bonds, Series 2018**<br>5.000% due 07/15/2031 | 1520 | 1599 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2014**<br>2.850% due 11/01/2042 | 20000 | 20000 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2018**<br>2.700% due 08/01/2042 | 15150 | 15150 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2019**<br>2.850% due 11/01/2044 | 8000 | 8000 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2022** |  |  |
| 5.000% due 08/01/2035 | 2000 | 2190 |
| 5.000% due 02/01/2040 | 2450 | 2602 |
| 5.250% due 08/01/2040 | 4890 | 5284 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2023**<br>5.000% due 02/01/2039 | 3000 | 3233 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2025**<br>5.000% due 11/01/2053 | 4600 | 4712 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2026**<br>5.000% due 02/01/2045 | 6900 | 7303 |
| **New York City, New York Transitional Finance Authority Revenue Bonds, Series 2023**<br>5.000% due 05/01/2037 | 2000 | 2203 |
| **New York City, New York Transitional Finance Authority Revenue Bonds, Series 2024** |  |  |
| 5.000% due 11/01/2037 | 4500 | 4969 |
| 5.000% due 05/01/2046 | 8000 | 8348 |
| 5.000% due 05/01/2047 | 4000 | 4141 |
| **New York City, New York Transitional Finance Authority Revenue Bonds, Series 2025** |  |  |
| 5.000% due 11/01/2035 | 1000 | 1136 |
| 5.000% due 11/01/2036 | 1300 | 1461 |
| 5.000% due 11/01/2037 | 4500 | 5017 |
| **New York Energy Finance Development Corp. Revenue Bonds, Series 2025**<br>5.000% due 07/01/2056 | 6615 | 6758 |
| **New York Power Authority Revenue Bonds, (AGM Insured), Series 2023** |  |  |
| 5.000% due 11/15/2036 | 1000 | 1131 |
| 5.000% due 11/15/2037 | 1000 | 1123 |
| **New York State Dormitory Authority Revenue Bonds, Series 2020** |  |  |
| 4.000% due 03/15/2034 | 4705 | 4831 |
| 4.000% due 03/15/2048 | 5000 | 4456 |
| **New York State Dormitory Authority Revenue Bonds, Series 2022**<br>4.000% due 05/01/2045 | 4740 | 4301 |
| **New York State Dormitory Authority Revenue Bonds, Series 2024**<br>5.000% due 03/15/2042 | 2000 | 2151 |
| **New York State Dormitory Authority Revenue Bonds, Series 2025** |  |  |
| 5.000% due 07/01/2039 | 3385 | 3585 |
| 5.000% due 07/01/2040 | 1500 | 1577 |
| 5.000% due 03/15/2042 | 2250 | 2447 |
| **New York State Dormitory Authority Revenue Notes, Series 2024**<br>5.000% due 05/01/2034 | 6100 | 6835 |
| **New York State Energy Research & Development Authority Revenue Bonds, Series 1994**<br>3.500% due 10/01/2029 | 3000 | 3014 |
| **New York State Housing Finance Agency Revenue Bonds, (FHA Insured), Series 2020**<br>4.200% due 11/01/2054 (e) | 6500 | 5900 |
| **New York State Thruway Authority Revenue Bonds, Series 2025**<br>5.000% due 03/15/2042 | 4300 | 4701 |
| **New York State Urban Development Corp. Revenue Bonds, Series 2023**<br>5.000% due 03/15/2037 | 4900 | 5415 |
| **New York Transportation Development Corp. Revenue Notes, Series 2020**<br>5.000% due 12/01/2026 | 1070 | 1086 |
| **Riverhead IDA Economic Job Development Corp. New York Revenue Bonds, (FNMA Insured), Series 2023**<br>4.500% due 02/01/2041 | 2940 | 2951 |
| **Triborough Bridge & Tunnel Authority Sales Tax, New York Revenue Bonds, Series 2022**<br>5.250% due 05/15/2062 | 5000 | 5151 |
| **Triborough Bridge & Tunnel Authority, New York Revenue Notes, Series 2022**<br>5.000% due 11/15/2032 | 4200 | 4719 |
| **Triborough Bridge & Tunnel Authority, New York Revenue Notes, Series 2025**<br>5.000% due 12/01/2033 | 1000 | 1146 |
| **TSASC, Inc., New York Revenue Notes, Series 2017** |  |  |
| 5.000% due 06/01/2026 | 1270 | 1274 |
| 5.000% due 06/01/2027 | 2800 | 2862 |
|  |  | 235807 |
| **NORTH CAROLINA 1.3%** |  |  |
| **Charlotte-Mecklenburg Hospital Authority, North Carolina Revenue Bonds, Series 2007**<br>2.750% due 01/15/2037 | 17765 | 17765 |
| **Charlotte-Mecklenburg Hospital Authority, North Carolina Revenue Bonds, Series 2021**<br>5.000% due 01/15/2049 | 2000 | 2188 |
| **Inlivian, North Carolina Revenue Bonds, (FNMA Insured), Series 2024**<br>4.450% due 06/01/2041 | 2979 | 2860 |
| **North Carolina Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>6.250% due 07/01/2055 | 3335 | 3645 |
| **North Carolina Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.500% due 01/01/2056 | 4100 | 4659 |
| **North Carolina State Revenue Notes, Series 2025**<br>5.000% due 03/01/2030 | 4300 | 4666 |
|  |  | 35783 |
| **NORTH DAKOTA 0.2%** |  |  |
| **Grand Forks, North Dakota Revenue Bonds, (AGM Insured), Series 2023**<br>5.000% due 12/01/2036 | 1050 | 1133 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **North Dakota Housing Finance Agency Revenue Bonds, Series 2025**<br>6.000% due 01/01/2056 | 2650 | 2904 |
|  |  | 4037 |
| **OHIO 2.7%** |  |  |
| **Buckeye Tobacco Settlement Financing Authority, Ohio Revenue Bonds, Series 2020** |  |  |
| 4.000% due 06/01/2038 | 1830 | 1821 |
| 4.000% due 06/01/2048 | 2800 | 2348 |
| 5.000% due 06/01/2035 | 1000 | 1053 |
| 5.000% due 06/01/2036 | 3065 | 3214 |
| **Butler County, Ohio Revenue Bonds, Series 2017**<br>5.000% due 11/15/2030 | 1235 | 1259 |
| **Columbus Regional Airport Authority, Ohio Revenue Bonds, Series 2025**<br>5.000% due 01/01/2039 | 1000 | 1097 |
| **Kent State University, Ohio Revenue Bonds, Series 2022**<br>5.000% due 05/01/2033 | 510 | 563 |
| **Lorain Metropolitan Housing Authority, Ohio Revenue Notes,(HUD Insured), Series 2025**<br>3.220% due 06/01/2029 | 1300 | 1302 |
| **Northeast Ohio Medical University Revenue Notes, Series 2021**<br>5.000% due 12/01/2029 | 115 | 121 |
| **Ohio Air Quality Development Authority Revenue Bonds, Series 2009**<br>4.750% due 06/01/2033 | 8950 | 9235 |
| **Ohio Air Quality Development Authority Revenue Bonds, Series 2014**<br>2.400% due 12/01/2038 | 3200 | 3052 |
| **Ohio Air Quality Development Authority Revenue Notes, Series 2026**<br>3.875% due 01/01/2036 | 2600 | 2569 |
| **Ohio Higher Educational Facility Commission Revenue Bonds, Series 2008**<br>2.800% due 01/01/2043 | 20080 | 20080 |
| **Ohio Higher Educational Facility Commission Revenue Bonds, Series 2025** |  |  |
| 5.000% due 02/01/2038 | 1500 | 1648 |
| 5.000% due 02/01/2039 | 1750 | 1911 |
| 5.000% due 02/01/2042 | 1700 | 1824 |
| **Ohio Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>6.250% due 03/01/2055 | 8730 | 9565 |
| **Ohio Water Development Authority Revenue Bonds, Series 2023**<br>5.000% due 12/01/2038 | 1250 | 1381 |
| **Ohio Water Development Authority Water Pollution Control Loan Fund Revenue Bonds, Series 2009**<br>4.750% due 06/01/2033 | 5000 | 5159 |
| **Port of Greater Cincinnati Development Authority, Ohio Revenue Bonds, (AGM Insured), Series 2024** |  |  |
| 5.000% due 12/01/2036 | 380 | 420 |
| 5.000% due 12/01/2039 | 430 | 466 |
| 5.000% due 12/01/2040 | 410 | 442 |
| 5.000% due 12/01/2041 | 460 | 495 |
| **University of Cincinnati, Ohio Revenue Bonds, Series 2025**<br>5.000% due 06/01/2041 | 2765 | 2973 |
| **Worthington City School District, Ohio General Obligation Notes, Series 2023** |  |  |
| 0.000% due 12/01/2031 (b) | 845 | 690 |
| 0.000% due 12/01/2032 (b) | 880 | 687 |
|  |  | 75375 |
| **OKLAHOMA 0.3%** |  |  |
| **Grand River Dam Authority, Oklahoma Revenue Bonds, Series 2023** |  |  |
| 5.000% due 06/01/2036 | 1850 | 2032 |
| 5.000% due 06/01/2037 | 1100 | 1200 |
| **Grand River Dam Authority, Oklahoma Revenue Bonds, Series 2024**<br>5.000% due 06/01/2036 | 4000 | 4441 |
| **Tulsa County, Oklahoma Industrial Authority Revenue Notes, Series 2025**<br>5.000% due 09/01/2032 | 1600 | 1751 |
|  |  | 9424 |
| **OREGON 0.8%** |  |  |
| **Medford Hospital Facilities Authority, Oregon Revenue Bonds, Series 2020** |  |  |
| 5.000% due 08/15/2035 | 1500 | 1582 |
| 5.000% due 08/15/2036 | 1500 | 1574 |
| 5.000% due 08/15/2037 | 1600 | 1674 |
| **Multnomah County, Oregon School District No 1J Portland General Obligation Bonds, Series 2026**<br>5.000% due 06/15/2043 | 7165 | 7828 |
| **Oregon Department of Transportation State Revenue Bonds, Series 2024** |  |  |
| 5.000% due 05/15/2037 | 1000 | 1106 |
| 5.000% due 05/15/2038 | 2250 | 2474 |
| **Oregon Housing & Community Services Department State Revenue Bonds, Series 2025**<br>3.125% due 07/01/2044 | 1285 | 1287 |
| **Oregon State Lottery Revenue Bonds, Series 2025**<br>5.000% due 04/01/2036 | 1440 | 1640 |
| **Oregon State Lottery Revenue Notes, Series 2025** |  |  |
| 5.000% due 04/01/2034 | 1390 | 1588 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.000% due 04/01/2035 | 2015 | 2317 |
|  |  | 23070 |
| **PENNSYLVANIA 3.4%** |  |  |
| **Allegheny County, Pennsylvania Hospital Development Authority Revenue Bonds, Series 2017**<br>3.120% (MUNIPSA) due 11/15/2047 ~ | 10000 | 9929 |
| **Commonwealth Financing Authority, Pennsylvania Revenue Bonds, (AGM Insured), Series 2018**<br>4.000% due 06/01/2039 | 7350 | 7071 |
| **Commonwealth of Pennsylvania General Obligation Bonds, Series 2026**<br>5.000% due 04/01/2043 | 15065 | 16450 |
| **Commonwealth of Pennsylvania, General Obligation Bonds, Series 2022**<br>5.000% due 10/01/2033 | 5000 | 5581 |
| **Delaware Valley Regional Finance Authority, Pennsylvania Revenue Bonds, Series 2023**<br>4.000% due 03/01/2035 | 1100 | 1138 |
| **Delaware Valley Regional Finance Authority, Pennsylvania Revenue Notes, Series 2023**<br>4.000% due 03/01/2033 | 600 | 624 |
| **Monroeville Finance Authority, Pennsylvania Revenue Bonds, Series 2022**<br>4.000% due 02/15/2042 | 4060 | 3845 |
| **Montgomery County Industrial Development Authority, Pennsylvania Revenue Notes, Series 2023**<br>4.100% due 06/01/2029 | 5500 | 5663 |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, Series 2025**<br>5.000% due 03/15/2060 | 6900 | 7509 |
| **Pennsylvania Higher Educational Facilities Authority Revenue Bonds, Series 2017**<br>5.000% due 08/15/2029 | 1250 | 1274 |
| **Pennsylvania Housing Finance Agency Revenue Bonds, Series 2024**<br>6.250% due 10/01/2054 | 1080 | 1178 |
| **Pennsylvania Turnpike Commission Revenue Bonds, Series 2021** |  |  |
| 4.000% due 12/01/2043 | 2000 | 1950 |
| 5.000% due 12/01/2036 | 8170 | 8799 |
| **Pennsylvania Turnpike Commission Revenue Bonds, Series 2024**<br>5.000% due 12/01/2043 | 4000 | 4322 |
| **Pennsylvania Turnpike Commission Revenue Notes, Series 2026**<br>5.000% due 06/01/2035 | 3000 | 3400 |
| **Philadelphia Authority for Industrial Development, Pennsylvania Revenue Bonds, Series 2024**<br>2.650% due 07/01/2054 | 3000 | 3000 |
| **Philadelphia, Pennsylvania General Obligation Bonds, Series 2019**<br>5.000% due 02/01/2031 | 2500 | 2674 |
| **Philadelphia, Pennsylvania General Obligation Bonds, Series 2021**<br>4.000% due 05/01/2037 | 2700 | 2728 |
| **School District of Philadelphia, Pennsylvania General Obligation Bonds, Series 2019**<br>4.000% due 09/01/2038 | 2200 | 2208 |
| **Southeastern Pennsylvania Transportation Authority Revenue Bonds, Series 2022**<br>5.250% due 06/01/2042 | 3750 | 4025 |
| **Southeastern Pennsylvania Transportation Authority Revenue Notes, Series 2022**<br>5.000% due 06/01/2031 | 1000 | 1106 |
|  |  | 94474 |
| **PUERTO RICO 1.7%** |  |  |
| **Puerto Rico Electric Power Authority Revenue Bonds, (AGM Insured), Series 2007**<br>3.148% (0.67\*US0003M + 0.520%) due 07/01/2029 ~ | 930 | 908 |
| **Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2018** |  |  |
| 0.000% due 07/01/2046 (b) | 64400 | 22679 |
| 0.000% due 07/01/2051 (b) | 26355 | 6755 |
| 4.500% due 07/01/2034 | 8671 | 8671 |
| 5.000% due 07/01/2058 | 1000 | 952 |
| **Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2019** |  |  |
| 4.329% due 07/01/2040 | 3700 | 3651 |
| 4.550% due 07/01/2040 | 4200 | 4188 |
|  |  | 47804 |
| **RHODE ISLAND 0.8%** |  |  |
| **Rhode Island Health & Educational Building Corp. Revenue Bonds, Series 2024**<br>5.000% due 05/15/2037 | 1000 | 1054 |
| **Rhode Island Health & Educational Building Corp. Revenue Notes, Series 2024**<br>5.000% due 05/15/2034 | 6500 | 6992 |
| **Tobacco Settlement Financing Corp. Rhode Island Revenue Bonds, Series 2015** |  |  |
| 5.000% due 06/01/2035 | 11000 | 11005 |
| 5.000% due 06/01/2040 | 2000 | 2000 |
|  |  | 21051 |
| **SOUTH CAROLINA 0.8%** |  |  |
| **Charleston County, South Carolina Airport District Revenue Notes, Series 2024**<br>5.000% due 07/01/2033 | 1720 | 1937 |
| **Patriots Energy Group Financing Agency, South Carolina Revenue Bonds, Series 2023**<br>5.250% due 02/01/2054 | 2800 | 2990 |
| **South Carolina Jobs-Economic Development Authority Revenue Bonds, Series 2025**<br>5.000% due 11/01/2049 | 9000 | 10026 |
| **South Carolina Public Service Authority Revenue Bonds, Series 2024**<br>5.500% due 12/01/2054 | 3000 | 3172 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **South Carolina Public Service Authority Revenue Bonds, Series 2025** |  |  |
| 5.000% due 12/01/2040 | 1175 | 1274 |
| 5.000% due 12/01/2042 | 1500 | 1612 |
|  |  | 21011 |
| **SOUTH DAKOTA 0.1%** |  |  |
| **South Dakota Housing Development Authority Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>4.500% due 11/01/2045 | 3305 | 3271 |
| **TENNESSEE 1.2%** |  |  |
| **Knoxville's Community Development Corp., Tennessee Revenue Bonds, Series 2025**<br>3.150% due 05/01/2046 | 1995 | 1999 |
| **Metropolitan Government of Nashville & Davidson County Sports Auth, Tennessee Revenue Bonds, Series 2023** |  |  |
| 5.000% due 07/01/2036 | 760 | 848 |
| 5.000% due 07/01/2038 | 500 | 551 |
| **Metropolitan Government of Nashville & Davidson County, Tennessee Health & Educational Facs Bd Revenue Bonds, (HUD Insured), Series 2023**<br>4.875% due 10/01/2038 | 3265 | 3331 |
| **Rutherford County, Tennessee Health & Educational Facilities Board Revenue Bonds, Series 2025**<br>5.000% due 11/15/2048 | 5500 | 5944 |
| **Tennergy Corp. Tennessee Revenue Bonds, Series 2021**<br>4.000% due 12/01/2051 | 2000 | 2020 |
| **Tennergy Corp. Tennessee Revenue Bonds, Series 2022**<br>5.500% due 10/01/2053 | 6000 | 6381 |
| **Tennessee Energy Acquisition Corp. Revenue Bonds, Series 2006**<br>5.000% due 02/01/2027 | 1850 | 1873 |
| **Tennessee Energy Acquisition Corp. Revenue Bonds, Series 2021**<br>5.000% due 05/01/2052 | 3400 | 3597 |
| **Tennessee Housing Development Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.000% due 01/01/2056 | 6580 | 7202 |
|  |  | 33746 |
| **TEXAS 12.1%** |  |  |
| **AG East Montgomery County, Texas Improvement District Sales Tax Revenue Bonds, (AGM Insured), Series 2024**<br>4.000% due 08/15/2044 | 3575 | 3344 |
| **Aldine Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2024** |  |  |
| 5.000% due 02/15/2040 | 4000 | 4344 |
| 5.000% due 02/15/2041 | 2800 | 3022 |
| **Austin Affordable PFC Inc., Texas Revenue Notes, Series 2024**<br>4.500% due 03/01/2043 | 3750 | 3710 |
| **Austin Housing Finance Corp. Texas Revenue Bonds, Series 2024**<br>3.400% due 11/01/2042 | 1700 | 1713 |
| **Board of Regents of the University of Texas System Revenue Bonds, Series 2024**<br>5.000% due 08/15/2041 | 5385 | 5867 |
| **Board of Regents of the University of Texas System Revenue Bonds, Series 2025**<br>5.000% due 08/15/2036 | 3500 | 3967 |
| **Central Texas Turnpike System Revenue Bonds, (BHAC/CR/AMBAC Insured), Series 2002**<br>0.000% due 08/15/2026 (b) | 3000 | 2969 |
| **Central Texas Turnpike System Revenue Bonds, Series 2024**<br>5.000% due 08/15/2042 | 3600 | 3851 |
| **Clifton Higher Education Finance Corp. Texas Revenue Bonds, (PSF Insured), Series 2025**<br>5.250% due 02/15/2044 | 4450 | 4722 |
| **Comal Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2022**<br>4.000% due 02/01/2042 | 5000 | 4940 |
| **Conroe Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025**<br>5.000% due 02/15/2039 | 5300 | 5856 |
| **Cypress-Fairbanks Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023**<br>5.000% due 02/15/2037 | 1350 | 1481 |
| **Dallas Fort Worth International Airport, Texas Revenue Bonds, Series 2022**<br>5.000% due 11/01/2034 | 3000 | 3325 |
| **Dallas Housing Finance Corp. Texas Revenue Bonds, Series 2024**<br>4.350% due 10/01/2041 | 2330 | 2281 |
| **Dallas Housing Finance Corp. Texas Revenue Bonds, Series 2025**<br>4.450% due 04/01/2041 | 1990 | 1981 |
| **Dallas Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025**<br>5.000% due 02/15/2055 | 2100 | 2285 |
| **Denton Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023**<br>5.000% due 08/15/2036 | 2550 | 2822 |
| **Ector County, Texas General Obligation Bonds, Series 2024**<br>5.000% due 02/15/2037 | 5220 | 5752 |
| **Ector County, Texas General Obligation Notes, Series 2024**<br>5.000% due 02/15/2035 | 1700 | 1896 |
| **EP Essential Housing WF PFC, Texas Revenue Notes, Series 2024**<br>4.250% due 12/01/2034 | 14200 | 13934 |
| **EP Tuscany Zaragosa PFC, Texas Revenue Notes, Series 2023**<br>4.000% due 12/01/2033 | 5000 | 4996 |
| **Fort Bend Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025**<br>3.800% due 08/01/2055 | 24000 | 24443 |
| **Garland Housing Finance Corp. Texas Revenue Bonds, (FNMA Insured), Series 2024**<br>4.610% due 01/01/2043 | 1094 | 1086 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Grand Parkway Transportation Corp. Texas Revenue Bonds, Series 2023**<br>5.000% due 10/01/2052 | 5000 | 5169 |
| **Harris County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2021**<br>2.700% due 10/01/2041 | 13400 | 13400 |
| **Harris County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2024**<br>5.000% due 07/01/2054 | 6000 | 6349 |
| **Harris County, Texas Hospital District General Obligation Bonds, Series 2025**<br>5.000% due 02/15/2041 | 7800 | 8375 |
| **Harris County, Texas Toll Road Revenue Bonds, Series 2023**<br>5.000% due 08/15/2035 | 2960 | 3296 |
| **Harris County, Texas Toll Road Revenue Bonds, Series 2024**<br>5.000% due 08/15/2037 | 5000 | 5554 |
| **Hays Consolidated Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023**<br>5.000% due 02/15/2036 | 1540 | 1678 |
| **Houston, Texas Airport System Revenue Bonds, Series 2018**<br>5.000% due 07/01/2030 | 3300 | 3464 |
| **Katy Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2018**<br>5.000% due 02/15/2029 | 1435 | 1498 |
| **Katy Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2020**<br>4.000% due 02/15/2039 | 3250 | 3272 |
| **Lamar Consolidated Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023** |  |  |
| 5.000% due 02/15/2037 | 1500 | 1647 |
| 5.000% due 02/15/2038 | 2000 | 2183 |
| 5.000% due 02/15/2039 | 5000 | 5411 |
| **Las Varas Public Facility Corp. Texas Revenue Bonds, Series 2025**<br>4.000% due 05/01/2043 | 14500 | 14700 |
| **Liberty Hill Independent School District, Texas General Obligation Notes, (PSF Insured), Series 2022**<br>5.000% due 02/01/2030 | 2290 | 2471 |
| **Lower Colorado River Authority, Texas Revenue Bonds, (AGM Insured), Series 2024**<br>5.000% due 05/15/2039 | 1200 | 1296 |
| **Lower Colorado River Authority, Texas Revenue Bonds, Series 2025**<br>5.000% due 05/15/2045 | 4000 | 4360 |
| **Manor Housing Public Facility Corp. Texas Revenue Bonds, Series 2024**<br>3.400% due 11/01/2042 | 2600 | 2614 |
| **Midland County, Texas Hospital District Revenue Bonds, (BAM Insured), Series 2024** |  |  |
| 4.000% due 05/15/2042 | 1335 | 1300 |
| 4.000% due 05/15/2044 | 720 | 681 |
| 5.000% due 05/15/2038 | 1000 | 1077 |
| 5.000% due 05/15/2039 | 1000 | 1070 |
| **New Hope Cultural Education Facilities Finance Corp. Texas Revenue Bonds, Series 2017**<br>4.000% due 08/15/2040 | 2000 | 1918 |
| **New Hope Cultural Education Facilities Finance Corp. Texas Revenue Bonds, Series 2025**<br>5.250% due 08/15/2041 | 5000 | 5533 |
| **Newark Higher Education Finance Corp. Texas Revenue Bonds, (PSF Insured), Series 2025**<br>5.000% due 08/15/2040 | 940 | 1012 |
| **North Texas Tollway Authority Revenue Notes, Series 2023**<br>5.000% due 01/01/2031 | 4300 | 4695 |
| **Permanent University Fund - University of Texas System Revenue Bonds, Series 2023**<br>5.000% due 07/01/2040 | 1090 | 1179 |
| **Permanent University Fund - University of Texas System Revenue Bonds, Series 2024**<br>5.000% due 07/01/2038 | 3600 | 3975 |
| **San Antonio Housing Trust Public Facility Corp. Texas Revenue Bonds,Series 2024**<br>4.550% due 03/01/2043 | 5000 | 4976 |
| **San Antonio Water System, Texas Revenue Bonds, Series 2025**<br>5.000% due 05/15/2039 | 4200 | 4651 |
| **San Antonio, Texas Electric & Gas Systems Revenue Bonds, Series 2015**<br>1.125% due 12/01/2045 | 2500 | 2453 |
| **San Antonio, Texas Electric & Gas Systems Revenue Bonds, Series 2024** |  |  |
| 5.000% due 02/01/2036 | 3500 | 3924 |
| 5.000% due 02/01/2040 | 4380 | 4790 |
| 5.000% due 02/01/2041 | 3000 | 3266 |
| **San Antonio, Texas Electric & Gas Systems Revenue Bonds, Series 2025**<br>3.080% due 02/01/2055 | 11500 | 11483 |
| **Southwest Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023**<br>4.000% due 02/01/2043 | 2500 | 2455 |
| **Tarrant County Housing Finance Corp. Texas Revenue Bonds,Series 2024**<br>4.600% due 03/01/2043 | 2000 | 2001 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2022**<br>5.000% due 07/01/2053 | 5000 | 5438 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2025**<br>5.000% due 11/15/2064 | 6400 | 7072 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2026**<br>2.700% due 11/15/2063 | 16500 | 16500 |
| **Texas Department of Housing & Community Affairs Revenue Bonds, (GNMA Insured), Series 2025**<br>6.000% due 01/01/2056 | 8250 | 9183 |
| **Texas Municipal Gas Acquisition & Supply Corp. Revenue Bonds, Series 2006**<br>4.087% (TSFR3M) due 12/15/2026 ~ | 2500 | 2501 |
| **Texas Private Activity Bond Surface Transportation Corp. Revenue Bonds, Series 2020**<br>4.000% due 06/30/2037 | 2950 | 2877 |
| **Texas State General Obligation Bonds, Series 2024** |  |  |
| 5.000% due 10/01/2039 | 4500 | 4972 |
| 5.000% due 10/01/2042 | 5790 | 6306 |
| **Texas State University System Revenue Bonds, Series 2024** |  |  |
| 5.000% due 03/15/2040 | 2000 | 2178 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.000% due 03/15/2041 | 2000 | 2166 |
| **Texas Transportation Commission Revenue Bonds, Series 2019**<br>0.000% due 08/01/2046 (b) | 2950 | 1048 |
| **Texas Water Development Board Revenue Bonds, Series 2022**<br>4.800% due 10/15/2052 | 8400 | 8438 |
| **Texas Water Development Board Revenue Bonds, Series 2023**<br>4.600% due 10/15/2039 | 2045 | 2158 |
| **Texas Water Development Board Revenue Notes, Series 2022** |  |  |
| 5.000% due 10/15/2029 | 1200 | 1297 |
| 5.000% due 10/15/2030 | 1775 | 1948 |
| **Town of Trophy Club, Texas Public Improvement District No 1 Special Assessment Notes, Series 2025** |  |  |
| 5.000% due 09/01/2028 | 500 | 511 |
| 5.000% due 09/01/2032 | 400 | 426 |
|  |  | 338782 |
| **UTAH 0.3%** |  |  |
| **Utah Housing Corp. Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>6.250% due 07/01/2055 | 2915 | 3254 |
| **Utah Housing Corp. Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.500% due 07/01/2055 | 3760 | 4262 |
|  |  | 7516 |
| **VIRGINIA 0.9%** |  |  |
| **Arlington County, Virginia Industrial Development Authority Revenue Bonds, Series 2023**<br>5.000% due 07/01/2053 | 3000 | 3201 |
| **Henrico County, Virginia Economic Development Authority Revenue Notes, Series 2025**<br>5.000% due 11/01/2035 | 4000 | 4507 |
| **Isle of Wight County Economic Development Authority, Virginia Revenue Bonds, (AGM Insured), Series 2023** |  |  |
| 5.000% due 07/01/2036 | 925 | 1020 |
| 5.000% due 07/01/2038 | 600 | 653 |
| **Virginia Commonwealth Transportation Board Revenue Notes, Series 2026**<br>5.000% due 05/15/2034 | 5180 | 5912 |
| **Virginia Public Building Authority Revenue Bonds, Series 2015**<br>4.000% due 08/01/2030 | 3300 | 3303 |
| **Virginia Small Business Financing Authority Revenue Bonds, Series 2025**<br>5.000% due 06/15/2060 | 6500 | 7119 |
|  |  | 25715 |
| **WASHINGTON 1.9%** |  |  |
| **Energy Northwest, Washington Revenue Bonds, Series 2022**<br>5.000% due 07/01/2035 | 3000 | 3301 |
| **Energy Northwest, Washington Revenue Bonds, Series 2025**<br>5.000% due 07/01/2041 | 3500 | 3844 |
| **Grant County, Washington Public Utility District No 2, Revenue Bonds, Series 2023**<br>5.000% due 01/01/2036 | 1265 | 1389 |
| **Pierce County, Washington School District No 401, Peninsula General Obligation Bonds, Series 2020**<br>4.000% due 12/01/2037 | 2135 | 2166 |
| **Seattle, Washington Municipal Light & Power Revenue Bonds, Series 2017**<br>4.000% due 09/01/2037 | 5000 | 5010 |
| **Snohomish County, Washington Housing Authority Revenue Bonds, Series 2019**<br>4.000% due 04/01/2044 | 2000 | 1844 |
| **Washington Health Care Facilities Authority Revenue Bonds, Series 2019**<br>4.000% due 08/01/2044 | 2000 | 1820 |
| **Washington Health Care Facilities Authority Revenue Bonds, Series 2025**<br>5.000% due 09/01/2043 | 2185 | 2289 |
| **Washington Health Care Facilities Authority Revenue Notes, Series 2025**<br>5.000% due 10/01/2030 | 3200 | 3448 |
| **Washington Higher Education Facilities Authority Revenue Bonds, Series 2017**<br>4.000% due 05/01/2037 | 3055 | 2934 |
| **Washington State Housing Finance Commission Revenue Bonds, (BAM Insured), Series 2025**<br>5.000% due 07/01/2037 | 1500 | 1602 |
| **Washington State Housing Finance Commission Revenue Bonds, Series 2023**<br>3.375% due 04/20/2037 | 4097 | 3795 |
| **Washington State Housing Finance Commission Revenue Bonds, Series 2024**<br>3.812% due 03/01/2050 | 4648 | 4480 |
| **Washington State Housing Finance Commission Revenue Bonds, Series 2025**<br>4.079% due 11/20/2041 | 10142 | 9616 |
| **Washington State Housing Finance Commission Revenue Bonds,Series 2024**<br>4.400% due 03/01/2043 | 4500 | 4404 |
| **Washington State Housing Finance Commission Revenue Notes, (BAM Insured), Series 2025**<br>5.000% due 07/01/2035 | 1000 | 1085 |
|  |  | 53027 |
| **WEST VIRGINIA 0.1%** |  |  |
| **West Virginia Hospital Finance Authority Revenue Bonds, Series 2023**<br>5.750% due 09/01/2041 | 2400 | 2601 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **WISCONSIN 1.1%** |  |  |
| **Franklin Public School District, Wisconsin General Obligation Bonds, Series 2025**<br>5.000% due 04/01/2040 | 6180 | 6648 |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2021**<br>4.000% due 10/01/2041 | 2250 | 2319 |
| **Public Finance Authority, Wisconsin Revenue Notes, Series 2021**<br>4.000% due 10/01/2030 | 265 | 273 |
| **University of Wisconsin Hospitals & Clinics Revenue Bonds, Series 2018**<br>2.850% due 04/01/2048 | 7150 | 7150 |
| **University of Wisconsin Hospitals & Clinics Revenue Bonds, Series 2021**<br>4.000% due 04/01/2046 | 4440 | 4129 |
| **Wisconsin Center District Revenue Notes, (AGM Insured), Series 2020**<br>0.000% due 12/15/2028 (b) | 1075 | 989 |
| **Wisconsin Health & Educational Facilities Authority Revenue Bonds, Series 2016**<br>4.000% due 11/15/2046 | 4000 | 3826 |
| **Wisconsin Health & Educational Facilities Authority Revenue Bonds, Series 2021**<br>4.000% due 08/15/2040 | 2000 | 1950 |
| **Wisconsin Health & Educational Facilities Authority Revenue Notes, Series 2018**<br>5.000% due 04/01/2029 | 1925 | 2024 |
|  |  | 29308 |
| Total Municipal Bonds & Notes (Cost $2,199,448) |  | 2224549 |
| **U.S. GOVERNMENT AGENCIES 0.3%** |  |  |
| **Federal Home Loan Mortgage Corp.**<br>3.800% due 01/01/2040 | 9795 | 9345 |
| Total U.S. Government Agencies (Cost $9,434) |  | 9345 |
| **U.S. TREASURY OBLIGATIONS 6.9%** |  |  |
| **U.S. Treasury Notes** |  |  |
| 3.375% due 02/29/2028 | 68900 | 68362 |
| 3.500% due 02/28/2031 | 56500 | 55408 |
| 4.125% due 03/31/2031 | 4700 | 4734 |
| 4.250% due 02/28/2031 | 26400 | 26746 |
| 4.625% due 04/30/2031 | 35100 | 36147 |
| Total U.S. Treasury Obligations (Cost $191,478) |  | 191397 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 0.2%** |  |  |
| **City of Dallas Housing Finance Corp.**<br>4.625% due 10/01/2043 | 2900 | 2913 |
| **Multifamily Tax-Exempt Mortgage-Backed Bonds**<br>4.500% due 08/01/2041 | 989 | 1001 |
| **San Antonio Housing Trust Public Facility Corp.**<br>4.450% due 04/01/2043 | 3000 | 2957 |
| Total Non-Agency Mortgage-Backed Securities (Cost $6,889) |  | 6871 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 11.5%** |  |  |
| **MUTUAL FUNDS 0.1%** |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720(d) | 2640739 | 2641 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **SHORT-TERM NOTES 8.0%** |  |  |
| **Federal Home Loan Bank Discount Notes** |  |  |
| 3.611% due 07/01/2026 (b)(c) | $11700 | 11593 |
| 3.621% due 06/24/2026 (b)(c) | 17100 | 16955 |
| 3.626% due 05/26/2026 (b)(c) | 2200 | 2188 |
| 3.631% due 06/22/2026 (b)(c) | 500 | 496 |
| 3.632% due 06/12/2026 (b)(c) | 600 | 595 |
| 3.634% due 07/08/2026 (b)(c) | 53100 | 52576 |
| 3.640% due 06/12/2026 (b)(c) | 1300 | 1290 |
| 3.653% due 09/02/2026 (b)(c) | 5300 | 5218 |
| 3.658% due 06/05/2026 (b)(c) | 21300 | 21159 |
| 3.659% due 07/29/2026 - 09/09/2026 (b)(c) | 35900 | 35359 |
| 3.667% due 08/03/2026 (b)(c) | 27800 | 27454 |
| 3.679% due 09/09/2026 (b)(c) | 17800 | 17514 |
| 3.688% due 05/27/2026 (b)(c) | 10800 | 10738 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 3.693% due 06/10/2026 (b)(c) | 20900 | 20752 |
|  |  | 223887 |
| **U.S. TREASURY BILLS 3.1%** |  |  |
| 3.658% due 04/16/2026 - 07/23/2026 (a)(b) | 85700 | 85386 |
| **MUNICIPAL BONDS & NOTES 0.3%** |  |  |
| **Albany City School District, New York General Obligation Notes, Series 2025**<br>4.000% due 06/25/2026 | 5000 | 5014 |
| **Honeoye Falls-Lima Central School District, New York General Obligation Notes, Series 2025**<br>4.000% due 06/25/2026 | 3000 | 3009 |
| Total Municipal Bonds & Notes (Cost $8,016) |  | 8023 |
| Total Short-Term Instruments (Cost $319,981) |  | 319937 |
| Total Investments in Securities (Cost $2,727,230) |  | 2752099 |
| Total Investments 98.6% (Cost $2,727,230) |  | $2752099 |
| Other Assets and Liabilities, net 1.4% |  | 40311 |
| Net Assets 100.0% |  | $2792410 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (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.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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.** |
| **(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.** |
| **(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 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.** |
| **(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.** |
| **(e)** | **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 | Cost | Market Value<br>as Percentage<br>of Net Assets |
| Federal Home Loan Mortgage Corp. Enhanced Receipt, New Jersey Revenue Bonds, Series 2019 | 3.870 | % | 11/15/2035 | 11/28/2023 | 11/28/2023 | 11105 | 11105 | 0.40 |
| New York State Housing Finance Agency Revenue Bonds, (FHA Insured), Series 2020 | 4.200 |  | 11/01/2054 | 11/28/2023 | 11/28/2023 | 5840 | 5840 | 0.21 |
|  |  |  |  |  | $ | 16945 | $ | 0.61%  |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **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 |
| Alabama | Alabama | $ | $0 | 0 | 109365 | $0 | 0 | 109365 |
| Alaska | Alaska |  | 0 | 0 | 6251 | 0 | 0 | 6251 |
| Arizona | Arizona |  | 0 | 0 | 19345 | 0 | 0 | 19345 |
| California | California |  | 0 | 0 | 115603 | 0 | 0 | 115603 |
| Colorado | Colorado |  | 0 | 0 | 34480 | 0 | 0 | 34480 |
| Connecticut | Connecticut |  | 0 | 0 | 48638 | 0 | 0 | 48638 |
| District of Columbia | District of Columbia |  | 0 | 0 | 50625 | 0 | 0 | 50625 |
| Florida | Florida |  | 0 | 0 | 76220 | 0 | 0 | 76220 |
| Georgia | Georgia |  | 0 | 0 | 61767 | 0 | 0 | 61767 |
| Idaho | Idaho |  | 0 | 0 | 8778 | 0 | 0 | 8778 |
| Illinois | Illinois |  | 0 | 0 | 110323 | 0 | 0 | 110323 |
| Indiana | Indiana |  | 0 | 0 | 28633 | 0 | 0 | 28633 |
| Iowa | Iowa |  | 0 | 0 | 4102 | 0 | 0 | 4102 |
| Kansas | Kansas |  | 0 | 0 | 2190 | 0 | 0 | 2190 |
| Kentucky | Kentucky |  | 0 | 0 | 48351 | 0 | 0 | 48351 |
| Louisiana | Louisiana |  | 0 | 0 | 22719 | 0 | 0 | 22719 |
| Maryland | Maryland |  | 0 | 0 | 41355 | 0 | 0 | 41355 |
| Massachusetts | Massachusetts |  | 0 | 0 | 20925 | 0 | 0 | 20925 |
| Michigan | Michigan |  | 0 | 0 | 65267 | 0 | 0 | 65267 |
| Minnesota | Minnesota |  | 0 | 0 | 20335 | 0 | 0 | 20335 |
| Mississippi | Mississippi |  | 0 | 0 | 3930 | 0 | 0 | 3930 |
| Missouri | Missouri |  | 0 | 0 | 16646 | 0 | 0 | 16646 |
| Multi-State | Multi-State |  | 0 | 0 | 90870 | 0 | 0 | 90870 |
| Nebraska | Nebraska |  | 0 | 0 | 3878 | 0 | 0 | 3878 |
| Nevada | Nevada |  | 0 | 0 | 33727 | 0 | 0 | 33727 |
| New Hampshire | New Hampshire |  | 0 | 0 | 46466 | 0 | 0 | 46466 |
| New Jersey | New Jersey |  | 0 | 0 | 52670 | 0 | 0 | 52670 |
| New Mexico | New Mexico |  | 0 | 0 | 19288 | 0 | 0 | 19288 |
| New York | New York |  | 0 | 0 | 235807 | 0 | 0 | 235807 |
| North Carolina | North Carolina |  | 0 | 0 | 35783 | 0 | 0 | 35783 |
| North Dakota | North Dakota |  | 0 | 0 | 4037 | 0 | 0 | 4037 |
| Ohio | Ohio |  | 0 | 0 | 75375 | 0 | 0 | 75375 |
| Oklahoma | Oklahoma |  | 0 | 0 | 9424 | 0 | 0 | 9424 |
| Oregon | Oregon |  | 0 | 0 | 23070 | 0 | 0 | 23070 |
| Pennsylvania | Pennsylvania |  | 0 | 0 | 94474 | 0 | 0 | 94474 |
| Puerto Rico | Puerto Rico |  | 0 | 0 | 47804 | 0 | 0 | 47804 |
| Rhode Island | Rhode Island |  | 0 | 0 | 21051 | 0 | 0 | 21051 |
| South Carolina | South Carolina |  | 0 | 0 | 21011 | 0 | 0 | 21011 |
| South Dakota | South Dakota |  | 0 | 0 | 3271 | 0 | 0 | 3271 |
| Tennessee | Tennessee |  | 0 | 0 | 33746 | 0 | 0 | 33746 |
| Texas | Texas |  | 0 | 0 | 338782 | 0 | 0 | 338782 |
| Utah | Utah |  | 0 | 0 | 7516 | 0 | 0 | 7516 |
| Virginia | Virginia |  | 0 | 0 | 25715 | 0 | 0 | 25715 |
| Washington | Washington |  | 0 | 0 | 53027 | 0 | 0 | 53027 |

---

------

<br> Schedule of Investments PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| West Virginia | 0 | 2601 | 0 | 2601 |
| Wisconsin | 0 | 29308 | 0 | 29308 |
| U.S. Government Agencies | 0 | 9345 | 0 | 9345 |
| U.S. Treasury Obligations | 0 | 191397 | 0 | 191397 |
| Non-Agency Mortgage-Backed Securities | 0 | 6871 | 0 | 6871 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | 0 | 2641 | 0 | 2641 |
| Short-Term Notes | 0 | 223887 | 0 | 223887 |
| U.S. Treasury Bills | 0 | 85386 | 0 | 85386 |
| Municipal Bonds & Notes | 0 | 8023 | 0 | 8023 |
| Total Investments | $0 | $2752099 | $0 | $2752099 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund March 31, 2026 (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 105.4% ¤** |  |  |
| **CORPORATE BONDS & NOTES 92.6%** |  |  |
| **BANKING & FINANCE 36.8%** |  |  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** |  |  |
| 2.450% due 10/29/2026 | $3021 | $2988 |
| 3.000% due 10/29/2028 | 576 | 555 |
| 3.300% due 01/30/2032 | 2658 | 2415 |
| 3.400% due 10/29/2033 | 400 | 354 |
| 3.850% due 10/29/2041 | 113 | 90 |
| 5.750% due 06/06/2028 | 544 | 557 |
| **Air Lease Corp.**<br>3.000% due 02/01/2030 | 494 | 459 |
| **Aircastle Ltd.** |  |  |
| 4.250% due 06/15/2026 | 835 | 834 |
| 6.500% due 07/18/2028 | 738 | 766 |
| **Aircastle Ltd./Aircastle Ireland DAC**<br>5.000% due 09/15/2030 | 1280 | 1278 |
| **Ally Financial, Inc.** |  |  |
| 5.548% due 07/31/2033 •  | 1460 | 1435 |
| 6.184% due 07/26/2035 •  | 5309 | 5327 |
| 6.848% due 01/03/2030 •  | 150 | 157 |
| **American Express Co.** |  |  |
| 4.420% due 08/03/2033 •  | 235 | 229 |
| 4.918% due 07/20/2033 •  | 706 | 708 |
| 5.389% due 07/28/2027 •  | 82 | 82 |
| 5.442% due 01/30/2036 •  | 978 | 996 |
| 5.645% due 04/23/2027 •  | 26 | 26 |
| 5.667% due 04/25/2036 •  | 1001 | 1035 |
| 6.489% due 10/30/2031 •  | 828 | 890 |
| **American Financial Group, Inc.**<br>4.500% due 06/15/2047 | 423 | 342 |
| **American Homes 4 Rent LP** |  |  |
| 2.375% due 07/15/2031 | 44 | 39 |
| 4.900% due 02/15/2029 | 453 | 456 |
| 5.500% due 02/01/2034 | 649 | 655 |
| **American Tower Corp.** |  |  |
| 2.100% due 06/15/2030 | 500 | 450 |
| 2.750% due 01/15/2027 | 624 | 616 |
| 2.900% due 01/15/2030 | 3461 | 3251 |
| 2.950% due 01/15/2051 | 2401 | 1483 |
| 3.125% due 01/15/2027 | 322 | 319 |
| 3.600% due 01/15/2028 | 1025 | 1010 |
| 5.200% due 02/15/2029 | 1384 | 1408 |
| 5.350% due 03/15/2035 | 261 | 263 |
| 5.650% due 03/15/2033 | 323 | 334 |
| **Americold Realty Operating Partnership LP**<br>5.409% due 09/12/2034 | 800 | 762 |
| **Ameriprise Financial, Inc.**<br>4.500% due 05/13/2032 | 957 | 950 |
| **Aon Corp./Aon Global Holdings PLC**<br>3.900% due 02/28/2052 | 545 | 398 |
| **Arch Capital Group Ltd.**<br>3.635% due 06/30/2050 | 542 | 388 |
| **ARES Capital Corp.** |  |  |
| 2.875% due 06/15/2027 | 1221 | 1189 |
| 2.875% due 06/15/2028 | 1790 | 1691 |
| 5.800% due 03/08/2032 | 72 | 71 |
| 5.875% due 03/01/2029 | 511 | 515 |
| 5.950% due 07/15/2029 | 263 | 264 |
| **ARES Management Corp.**<br>5.600% due 10/11/2054 | 2 | 2 |
| **ARES Strategic Income Fund** |  |  |
| 5.600% due 02/15/2030 | 490 | 477 |
| 6.200% due 03/21/2032 | 353 | 346 |
| **Arthur J Gallagher & Co.** |  |  |
| 3.500% due 05/20/2051 | 2787 | 1909 |
| 5.750% due 07/15/2054 | 276 | 265 |
| **Assured Guaranty U.S. Holdings, Inc.**<br>3.150% due 06/15/2031 | 822 | 762 |
| **Athene Global Funding** |  |  |
| 1.608% due 06/29/2026 | 1204 | 1195 |
| 2.673% due 06/07/2031 | 1224 | 1068 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Athene Holding Ltd.**<br>6.625% due 05/19/2055 | 46 | 44 |
| **Australia & New Zealand Banking Group Ltd.**<br>4.400% due 05/19/2026 (e) | 468 | 468 |
| **Aviation Capital Group LLC**<br>6.250% due 04/15/2028 | 2298 | 2364 |
| **Avilease Capital Ltd.**<br>4.750% due 11/12/2030 | 1544 | 1504 |
| **Avolon Holdings Funding Ltd.** |  |  |
| 2.528% due 11/18/2027 | 752 | 727 |
| 4.700% due 01/30/2031 | 4208 | 4125 |
| **AXIS Specialty Finance PLC**<br>4.000% due 12/06/2027 | 273 | 271 |
| **Bain Capital Specialty Finance, Inc.**<br>5.950% due 03/01/2031 | 1473 | 1407 |
| **Banco Bilbao Vizcaya Argentaria SA** |  |  |
| 6.033% due 03/13/2035 •  | 400 | 416 |
| 6.138% due 09/14/2028 •  | 400 | 409 |
| 7.883% due 11/15/2034 •  | 1533 | 1736 |
| **Banco de Credito e Inversiones SA**<br>3.500% due 10/12/2027 | 798 | 786 |
| **Banco Internacional del Peru SAA Interbank**<br>4.800% due 07/15/2031 | 2638 | 2600 |
| **Banco Santander SA** |  |  |
| 5.127% due 11/06/2035 | 2800 | 2731 |
| 5.294% due 08/18/2027 | 120 | 121 |
| 5.538% due 03/14/2030 •  | 65 | 67 |
| **Bank Hapoalim BM**<br>5.252% due 01/14/2033 | 3200 | 3163 |
| **Bank of America Corp.** |  |  |
| 1.898% due 07/23/2031 •  | 657 | 585 |
| 1.922% due 10/24/2031 •  | 300 | 266 |
| 2.572% due 10/20/2032 •  | 3759 | 3346 |
| 2.592% due 04/29/2031 •  | 343 | 317 |
| 2.972% due 02/04/2033 •  | 313 | 283 |
| 3.194% due 07/23/2030 •  | 557 | 534 |
| 3.419% due 12/20/2028 •  | 3003 | 2951 |
| 3.593% due 07/21/2028 •  | 74 | 73 |
| 4.948% due 07/22/2028 •  | 64 | 64 |
| 5.015% due 07/22/2033 •  | 4140 | 4166 |
| 5.202% due 04/25/2029 •  | 3189 | 3235 |
| 5.288% due 04/25/2034 •  | 2819 | 2854 |
| 5.464% due 05/09/2036 •  | 545 | 556 |
| 5.468% due 01/23/2035 •  | 4019 | 4104 |
| 5.511% due 01/24/2036 •  | 531 | 542 |
| 5.872% due 09/15/2034 •  | 940 | 985 |
| 6.204% due 11/10/2028 •  | 126 | 129 |
| **Bank of Ireland Group PLC**<br>2.029% due 09/30/2027 •  | 1195 | 1180 |
| **Bank of Montreal**<br>5.717% due 09/25/2028 | 115 | 118 |
| **Bank of New York Mellon Corp.** |  |  |
| 4.706% due 02/01/2034 •  | 1308 | 1293 |
| 5.060% due 07/22/2032 •  | 120 | 122 |
| 5.802% due 10/25/2028 •  | 422 | 432 |
| 5.834% due 10/25/2033 •  | 4431 | 4699 |
| 6.474% due 10/25/2034 •  | 179 | 196 |
| **Bank of Nova Scotia** |  |  |
| 4.404% due 09/08/2028 •  | 1185 | 1184 |
| 4.850% due 02/01/2030 | 490 | 496 |
| **Banque Federative du Credit Mutuel SA**<br>4.541% due 01/15/2031 | 2345 | 2314 |
| **Barclays PLC** |  |  |
| 2.279% due 11/24/2027 •  | 79 | 78 |
| 2.894% due 11/24/2032 •  | 374 | 334 |
| 4.476% due 11/11/2029 •  | 61 | 61 |
| 4.972% due 05/16/2029 •  | 4840 | 4870 |
| 5.207% due 02/24/2037 •  | 3322 | 3216 |
| 5.335% due 09/10/2035 •  | 175 | 173 |
| 5.785% due 02/25/2036 •  | 864 | 874 |
| 5.829% due 05/09/2027 •  | 120 | 120 |
| 6.224% due 05/09/2034 •  | 448 | 471 |
| 6.496% due 09/13/2027 •  | 1257 | 1268 |
| 7.385% due 11/02/2028 •  | 1520 | 1583 |
| 7.437% due 11/02/2033 •  | 464 | 519 |
| **Berkshire Hathaway Finance Corp.**<br>3.850% due 03/15/2052 | 1572 | 1188 |
| **BGC Group, Inc.**<br>6.600% due 06/10/2029 | 1544 | 1594 |
| **Blackstone Holdings Finance Co. LLC** |  |  |
| 1.625% due 08/05/2028 | 288 | 270 |
| 4.000% due 10/02/2047 | 536 | 404 |
| 5.900% due 11/03/2027 | 130 | 133 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Blackstone Secured Lending Fund**<br>2.750% due 09/16/2026 | 1195 | 1179 |
| **Block Financial LLC**<br>3.875% due 08/15/2030 | 1198 | 1130 |
| **Blue Owl Capital Corp.** |  |  |
| 3.400% due 07/15/2026 | 201 | 199 |
| 5.950% due 03/15/2029 | 491 | 485 |
| **Blue Owl Finance LLC** |  |  |
| 3.125% due 06/10/2031 | 1189 | 1026 |
| 4.125% due 10/07/2051 | 656 | 435 |
| 6.250% due 04/18/2034 | 2354 | 2265 |
| **BNP Paribas SA** |  |  |
| 4.400% due 08/14/2028 | 6309 | 6284 |
| 4.916% due 01/15/2034 •  | 4024 | 3937 |
| **Boston Properties LP**<br>2.550% due 04/01/2032 | 100 | 86 |
| **BPCE SA** |  |  |
| 3.500% due 10/23/2027 | 622 | 613 |
| 5.936% due 05/30/2035 •  | 1885 | 1929 |
| 6.612% due 10/19/2027 •  | 650 | 657 |
| **Brandywine Operating Partnership LP**<br>3.950% due 11/15/2027 | 375 | 360 |
| **Brighthouse Financial Global Funding**<br>1.550% due 05/24/2026 | 446 | 444 |
| **Brighthouse Financial, Inc.** |  |  |
| 3.850% due 12/22/2051 | 90 | 50 |
| 4.700% due 06/22/2047 | 650 | 442 |
| **Brixmor Operating Partnership LP**<br>2.500% due 08/16/2031 | 495 | 441 |
| **Broadridge Financial Solutions, Inc.**<br>2.900% due 12/01/2029 | 1354 | 1267 |
| **Brookfield Finance, Inc.** |  |  |
| 3.625% due 02/15/2052 | 942 | 640 |
| 3.900% due 01/25/2028 | 1202 | 1190 |
| 4.850% due 03/29/2029 | 2820 | 2834 |
| **Brown & Brown, Inc.** |  |  |
| 2.375% due 03/15/2031 | 831 | 732 |
| 5.250% due 06/23/2032 | 239 | 239 |
| 5.650% due 06/11/2034 | 45 | 45 |
| **CaixaBank SA** |  |  |
| 5.581% due 07/03/2036 •  | 434 | 437 |
| 6.037% due 06/15/2035 •  | 276 | 288 |
| 6.684% due 09/13/2027 •  | 1708 | 1724 |
| **Cantor Fitzgerald LP**<br>7.200% due 12/12/2028 | 928 | 965 |
| **Capital One Financial Corp.** |  |  |
| 3.273% due 03/01/2030 •  | 501 | 483 |
| 4.100% due 02/09/2027 | 184 | 184 |
| 4.927% due 05/10/2028 •  | 25 | 25 |
| 5.268% due 05/10/2033 •  | 560 | 559 |
| 5.468% due 02/01/2029 •  | 723 | 734 |
| 6.312% due 06/08/2029 •  | 1315 | 1360 |
| **Capital One NA**<br>4.650% due 09/13/2028 | 2794 | 2806 |
| **CBRE Services, Inc.**<br>5.950% due 08/15/2034 | 4319 | 4498 |
| **Charles Schwab Corp.** |  |  |
| 1.650% due 03/11/2031 | 5795 | 5053 |
| 2.900% due 03/03/2032 | 685 | 620 |
| **Chubb INA Holdings LLC** |  |  |
| 3.050% due 12/15/2061 | 607 | 365 |
| 5.000% due 03/15/2034 | 144 | 145 |
| **CI Financial Corp.**<br>7.500% due 05/30/2029 | 1251 | 1313 |
| **Citadel Finance LLC**<br>5.150% due 02/14/2031 | 3516 | 3435 |
| **Citadel LP**<br>6.375% due 01/23/2032 | 670 | 695 |
| **Citadel Securities Global Holdings LLC**<br>5.500% due 06/18/2030 | 404 | 411 |
| **Citibank NA**<br>5.570% due 04/30/2034 | 3853 | 3993 |
| **Citigroup, Inc.** |  |  |
| 2.572% due 06/03/2031 •  | 500 | 458 |
| 3.057% due 01/25/2033 •  | 2236 | 2023 |
| 3.070% due 02/24/2028 •  | 130 | 128 |
| 3.668% due 07/24/2028 •  | 563 | 557 |
| 4.075% due 04/23/2029 •  | 393 | 390 |
| 4.412% due 03/31/2031 •  | 80 | 79 |
| 4.542% due 09/19/2030 •  | 2318 | 2310 |
| 4.910% due 05/24/2033 •  | 150 | 149 |
| 6.270% due 11/17/2033 •  | 1161 | 1241 |
| **Citizens Bank NA**<br>4.575% due 08/09/2028 •  | 463 | 463 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Citizens Financial Group, Inc.** |  |  |
| 2.850% due 07/27/2026 | 943 | 939 |
| 3.250% due 04/30/2030 | 10 | 9 |
| 5.718% due 07/23/2032 •  | 2444 | 2513 |
| **CNA Financial Corp.**<br>2.050% due 08/15/2030 | 150 | 134 |
| **CNO Global Funding**<br>5.875% due 06/04/2027 | 1196 | 1212 |
| **Commonwealth Bank of Australia**<br>2.688% due 03/11/2031 (e) | 1199 | 1085 |
| **Cooperatieve Rabobank UA** |  |  |
| 1.980% due 12/15/2027 •  | 774 | 761 |
| 3.649% due 04/06/2028 •  | 25 | 25 |
| 3.750% due 07/21/2026 | 891 | 889 |
| 5.564% due 02/28/2029 •  | 45 | 46 |
| 5.710% due 01/21/2033 •  | 2618 | 2721 |
| 5.800% due 09/30/2110 | 3 | 3 |
| **Corebridge Financial, Inc.** |  |  |
| 3.650% due 04/05/2027 | 1754 | 1739 |
| 3.850% due 04/05/2029 | 1256 | 1227 |
| 4.400% due 04/05/2052 | 1149 | 896 |
| **Credit Agricole SA** |  |  |
| 5.230% due 01/09/2029 •  | 3490 | 3530 |
| 5.301% due 07/12/2028 | 51 | 52 |
| 6.316% due 10/03/2029 •  | 2332 | 2428 |
| **Crown Castle, Inc.** |  |  |
| 2.100% due 04/01/2031 | 20 | 17 |
| 2.250% due 01/15/2031 | 1006 | 889 |
| 2.500% due 07/15/2031 | 10 | 9 |
| 2.900% due 03/15/2027 | 619 | 610 |
| 2.900% due 04/01/2041 | 172 | 122 |
| 3.100% due 11/15/2029 | 1479 | 1397 |
| 3.300% due 07/01/2030 | 100 | 94 |
| 4.300% due 02/15/2029 | 681 | 673 |
| **Danske Bank AS** |  |  |
| 4.375% due 06/12/2028 | 2755 | 2750 |
| 4.999% due 03/27/2032 •  | 800 | 802 |
| 5.705% due 03/01/2030 •  | 1200 | 1234 |
| **Deutsche Bank AG** |  |  |
| 5.373% due 01/10/2029 •  | 980 | 992 |
| 5.706% due 02/08/2028 •  | 242 | 244 |
| 6.720% due 01/18/2029 •  | 4207 | 4360 |
| 7.079% due 02/10/2034 •  | 847 | 908 |
| **Digital Realty Trust LP** |  |  |
| 3.700% due 08/15/2027 | 51 | 50 |
| 5.550% due 01/15/2028 | 469 | 478 |
| **DNB Bank ASA**<br>1.535% due 05/25/2027 •  | 1741 | 1733 |
| **Empower Finance 2020 LP**<br>3.075% due 09/17/2051 | 2615 | 1669 |
| **EPR Properties** |  |  |
| 3.750% due 08/15/2029 | 2070 | 1984 |
| 4.950% due 04/15/2028 | 60 | 60 |
| **EQT AB**<br>5.850% due 05/08/2035 | 1624 | 1630 |
| **Equinix, Inc.** |  |  |
| 1.450% due 05/15/2026 | 10 | 10 |
| 2.150% due 07/15/2030 | 3894 | 3501 |
| 3.000% due 07/15/2050 | 1113 | 693 |
| 3.200% due 11/18/2029 | 3338 | 3179 |
| **Equitable America Global Funding**<br>4.700% due 09/15/2032 | 873 | 849 |
| **Equitable Financial Life Global Funding**<br>1.300% due 07/12/2026 | 620 | 615 |
| **Equitable Holdings, Inc.** |  |  |
| 4.350% due 04/20/2028 | 496 | 495 |
| 5.000% due 04/20/2048 | 209 | 181 |
| **Extra Space Storage LP**<br>2.350% due 03/15/2032 | 1646 | 1413 |
| **F&G Annuities & Life, Inc.** |  |  |
| 6.250% due 10/04/2034 | 147 | 140 |
| 6.500% due 06/04/2029 | 731 | 734 |
| **F&G Global Funding** |  |  |
| 1.750% due 06/30/2026 | 135 | 134 |
| 2.300% due 04/11/2027 | 641 | 625 |
| **Fairfax Financial Holdings Ltd.**<br>5.625% due 08/16/2032 | 2080 | 2135 |
| **FIBRA Prologis**<br>5.625% due 01/14/2038 | 1952 | 1862 |
| **Fidelity National Financial, Inc.** |  |  |
| 3.200% due 09/17/2051 | 313 | 191 |
| 3.400% due 06/15/2030 | 499 | 470 |
| **First American Financial Corp.**<br>4.000% due 05/15/2030 | 313 | 299 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **First Citizens BancShares, Inc.**<br>4.869% due 03/03/2032 •  | 1952 | 1887 |
| **FMR LLC**<br>5.150% due 02/01/2043 | 416 | 390 |
| **Ford Motor Credit Co. LLC** |  |  |
| 2.900% due 02/16/2028 | 928 | 890 |
| 3.815% due 11/02/2027 | 865 | 848 |
| 4.125% due 08/17/2027 | 1313 | 1296 |
| 4.542% due 08/01/2026 | 936 | 935 |
| 5.112% (SOFRRATE + 1.450%) due 11/05/2026 ~ | 1202 | 1204 |
| 5.850% due 05/17/2027 | 1161 | 1170 |
| 6.532% due 03/19/2032 | 2110 | 2166 |
| 6.800% due 05/12/2028 | 320 | 330 |
| **GA Global Funding Trust** |  |  |
| 1.950% due 09/15/2028 | 181 | 169 |
| 2.250% due 01/06/2027 | 775 | 762 |
| 4.400% due 09/23/2027 | 451 | 448 |
| 5.900% due 01/13/2035 | 784 | 779 |
| **GATX Corp.**<br>6.050% due 06/05/2054 | 234 | 233 |
| **General Motors Financial Co., Inc.** |  |  |
| 1.500% due 06/10/2026 | 1193 | 1186 |
| 2.350% due 01/08/2031 | 150 | 134 |
| 4.300% due 04/06/2029 | 132 | 131 |
| 5.850% due 04/06/2030 | 100 | 104 |
| **Global Atlantic Fin Co.** |  |  |
| 3.125% due 06/15/2031 | 631 | 553 |
| 6.750% due 03/15/2054 | 223 | 208 |
| 7.950% due 06/15/2033 | 1100 | 1181 |
| **GLP Capital LP/GLP Financing II, Inc.** |  |  |
| 3.250% due 01/15/2032 | 194 | 173 |
| 4.000% due 01/15/2030 | 1224 | 1176 |
| 4.000% due 01/15/2031 | 475 | 451 |
| 5.300% due 01/15/2029 | 1414 | 1431 |
| 5.625% due 09/15/2034 | 2234 | 2201 |
| **Goldman Sachs Group, Inc.** |  |  |
| 1.948% due 10/21/2027 •  | 2031 | 2003 |
| 1.992% due 01/27/2032 •  | 5562 | 4883 |
| 2.615% due 04/22/2032 •  | 2576 | 2315 |
| 3.102% due 02/24/2033 •  | 7198 | 6503 |
| 3.615% due 03/15/2028 •  | 289 | 287 |
| 4.516% due 01/21/2032 •  | 3562 | 3509 |
| 5.016% due 10/23/2035 •  | 1441 | 1415 |
| 5.049% due 07/23/2030 •  | 72 | 73 |
| 5.727% due 04/25/2030 •  | 47 | 49 |
| 5.851% due 04/25/2035 •  | 1236 | 1283 |
| 6.484% due 10/24/2029 •  | 155 | 162 |
| **Goldman Sachs Private Credit Corp.**<br>5.875% due 01/31/2031 | 1200 | 1165 |
| **Goodman U.S. Finance Five LLC**<br>4.625% due 05/04/2032 | 1840 | 1811 |
| **Guardian Life Insurance Co. of America**<br>4.850% due 01/24/2077 | 1201 | 976 |
| **Highwoods Realty LP**<br>3.050% due 02/15/2030 | 1967 | 1815 |
| **Horizon Mutual Holdings, Inc.**<br>6.200% due 11/15/2034 | 385 | 361 |
| **Host Hotels & Resorts LP** |  |  |
| 5.700% due 06/15/2032 | 24 | 25 |
| 5.700% due 07/01/2034 | 2806 | 2837 |
| **HPS Corporate Lending Fund**<br>4.900% due 09/11/2028 | 345 | 336 |
| **HSBC Holdings PLC** |  |  |
| 2.013% due 09/22/2028 •  | 78 | 75 |
| 2.206% due 08/17/2029 •  | 383 | 363 |
| 2.357% due 08/18/2031 •  | 1243 | 1122 |
| 2.871% due 11/22/2032 •  | 421 | 377 |
| 3.973% due 05/22/2030 •  | 2080 | 2037 |
| 4.041% due 03/13/2028 •  | 271 | 270 |
| 4.398% due 03/10/2030 •  | 1867 | 1854 |
| 4.583% due 06/19/2029 •  | 1206 | 1205 |
| 4.755% due 06/09/2028 •  | 260 | 261 |
| 5.130% due 03/03/2031 •  | 3251 | 3289 |
| 5.133% due 11/06/2036 •  | 551 | 539 |
| 5.210% due 08/11/2028 •  | 100 | 101 |
| 5.450% due 03/03/2036 •  | 564 | 566 |
| 5.546% due 03/04/2030 •  | 167 | 171 |
| 5.719% due 03/04/2035 •  | 116 | 119 |
| 5.790% due 05/13/2036 •  | 2220 | 2283 |
| 5.887% due 08/14/2027 •  | 272 | 273 |
| 7.390% due 11/03/2028 •  | 113 | 118 |
| **HSBC USA, Inc.**<br>5.294% due 03/04/2027 | 145 | 146 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **ING Groep NV** |  |  |
| 1.726% due 04/01/2027 •  | 55 | 55 |
| 2.727% due 04/01/2032 •  | 501 | 454 |
| 4.017% due 03/28/2028 •  | 512 | 510 |
| 4.858% due 03/25/2029 •  | 242 | 244 |
| 5.420% due 03/23/2037 •  | 2686 | 2679 |
| **Intesa Sanpaolo SpA** |  |  |
| 7.778% due 06/20/2054 •  | 1256 | 1433 |
| 8.248% due 11/21/2033 •  | 2600 | 2997 |
| **Invitation Homes Operating Partnership LP** |  |  |
| 2.000% due 08/15/2031 | 2529 | 2166 |
| 2.300% due 11/15/2028 | 36 | 34 |
| **Jefferies Financial Group, Inc.**<br>5.500% due 02/15/2036 | 1952 | 1875 |
| **John Deere Capital Corp.** |  |  |
| 4.350% due 09/15/2032 | 241 | 239 |
| 4.700% due 06/10/2030 | 120 | 122 |
| **JPMorgan Chase & Co.** |  |  |
| 1.470% due 09/22/2027 •  | 1241 | 1224 |
| 2.182% due 06/01/2028 •  | 210 | 205 |
| 2.522% due 04/22/2031 •  | 320 | 296 |
| 2.947% due 02/24/2028 •  | 1495 | 1476 |
| 2.963% due 01/25/2033 •  | 957 | 869 |
| 3.702% due 05/06/2030 •  | 5220 | 5092 |
| 3.782% due 02/01/2028 •  | 160 | 159 |
| 4.005% due 04/23/2029 •  | 478 | 474 |
| 4.323% due 04/26/2028 •  | 83 | 83 |
| 4.565% due 06/14/2030 •  | 900 | 901 |
| 4.586% due 04/26/2033 •  | 1861 | 1837 |
| 4.851% due 07/25/2028 •  | 1392 | 1399 |
| 4.912% due 07/25/2033 •  | 2685 | 2688 |
| 4.979% due 07/22/2028 •  | 1037 | 1044 |
| 4.995% due 07/22/2030 •  | 264 | 268 |
| 5.012% due 01/23/2030 •  | 2713 | 2751 |
| 5.040% due 01/23/2028 •  | 30 | 30 |
| 5.336% due 01/23/2035 •  | 3109 | 3158 |
| 5.571% due 04/22/2028 •  | 992 | 1004 |
| 5.766% due 04/22/2035 •  | 5380 | 5605 |
| **KKR Group Finance Co. X LLC**<br>3.250% due 12/15/2051 | 2919 | 1826 |
| **Lazard Group LLC** |  |  |
| 4.500% due 09/19/2028 | 2354 | 2344 |
| 5.625% due 08/01/2035 | 2514 | 2510 |
| **Liberty Mutual Group, Inc.** |  |  |
| 4.850% due 08/01/2044 | 158 | 137 |
| 5.500% due 06/15/2052 | 238 | 215 |
| **Lloyds Banking Group PLC** |  |  |
| 3.574% due 11/07/2028 •  | 405 | 400 |
| 3.750% due 03/18/2028 •  | 705 | 700 |
| 4.375% due 03/22/2028 | 109 | 109 |
| 4.943% due 11/04/2036 •  | 501 | 484 |
| 5.087% due 11/26/2028 •  | 1012 | 1021 |
| 5.590% due 11/26/2035 •  | 618 | 629 |
| 5.679% due 01/05/2035 •  | 501 | 515 |
| 5.871% due 03/06/2029 •  | 803 | 823 |
| 7.953% due 11/15/2033 •  | 1524 | 1737 |
| **Loews Corp.**<br>4.940% due 04/01/2036 | 3153 | 3088 |
| **LPL Holdings, Inc.**<br>6.000% due 05/20/2034 | 425 | 434 |
| **LSEG Finance PLC** |  |  |
| 2.000% due 04/06/2028 | 1523 | 1451 |
| 3.200% due 04/06/2041 | 1453 | 1090 |
| **Lseg U.S. Fin Corp.**<br>4.875% due 03/28/2027 | 308 | 309 |
| **Macquarie Group Ltd.** |  |  |
| 1.935% due 04/14/2028 •  | 1192 | 1160 |
| 3.763% due 11/28/2028 •  | 60 | 59 |
| **Main Street Capital Corp.**<br>5.400% due 08/15/2028 | 1461 | 1452 |
| **Manulife Financial Corp.**<br>4.986% due 12/11/2035 | 499 | 488 |
| **Marex Group PLC**<br>6.404% due 11/04/2029 | 2648 | 2728 |
| **MassMutual Global Funding II**<br>5.050% due 12/07/2027 | 351 | 356 |
| **Met Tower Global Funding**<br>1.250% due 09/14/2026 | 111 | 110 |
| **MetLife, Inc.** |  |  |
| 4.125% due 08/13/2042 | 130 | 107 |
| 9.250% due 04/08/2068 | 163 | 191 |
| **Metropolitan Life Global Funding I** |  |  |
| 1.875% due 01/11/2027 | 2202 | 2166 |
| 5.150% due 03/28/2033 | 3098 | 3132 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Mitsubishi HC Capital, Inc.**<br>5.080% due 09/15/2027 | 1243 | 1253 |
| **Mitsubishi UFJ Financial Group, Inc.** |  |  |
| 2.309% due 07/20/2032 •  | 1349 | 1189 |
| 2.341% due 01/19/2028 •  | 2811 | 2766 |
| 3.195% due 07/18/2029 | 2446 | 2346 |
| 3.741% due 03/07/2029 | 28 | 28 |
| 5.017% due 07/20/2028 •  | 4432 | 4461 |
| **Mizuho Financial Group, Inc.** |  |  |
| 2.201% due 07/10/2031 •  | 586 | 528 |
| 5.323% due 07/08/2036 •  | 701 | 705 |
| 5.382% due 07/10/2030 •  | 305 | 312 |
| 5.414% due 09/13/2028 •  | 2478 | 2512 |
| 5.594% due 07/10/2035 •  | 299 | 307 |
| 5.748% due 07/06/2034 •  | 737 | 766 |
| 5.754% due 05/27/2034 •  | 797 | 829 |
| **Morgan Stanley** |  |  |
| 1.593% due 05/04/2027 •  | 116 | 116 |
| 1.928% due 04/28/2032 •  | 3252 | 2820 |
| 2.511% due 10/20/2032 •  | 582 | 514 |
| 3.622% due 04/01/2031 •  | 2951 | 2831 |
| 3.772% due 01/24/2029 •  | 700 | 691 |
| 4.300% due 01/27/2045 | 717 | 593 |
| 4.708% due 03/12/2032 •  | 2072 | 2059 |
| 4.889% due 07/20/2033 •  | 2308 | 2295 |
| 5.123% due 02/01/2029 •  | 1496 | 1513 |
| 5.164% due 04/20/2029 •  | 130 | 132 |
| 5.173% due 01/16/2030 •  | 1869 | 1896 |
| 5.652% due 04/13/2028 •  | 168 | 170 |
| 5.831% due 04/19/2035 •  | 1785 | 1854 |
| 6.627% due 11/01/2034 •  | 2938 | 3198 |
| **Morgan Stanley Bank NA**<br>4.607% (SOFRRATE + 0.940%) due 07/14/2028 ~ | 952 | 953 |
| **Morgan Stanley Direct Lending Fund**<br>6.150% due 05/17/2029 | 10 | 10 |
| **Morgan Stanley Private Bank NA**<br>4.734% due 07/18/2031 •  | 2354 | 2347 |
| **Mutual of Omaha Cos Global Funding**<br>4.546% due 01/13/2031 | 2387 | 2360 |
| **Nasdaq, Inc.**<br>2.500% due 12/21/2040 | 964 | 671 |
| **National Health Investors, Inc.**<br>3.000% due 02/01/2031 | 269 | 242 |
| **Nationwide Building Society** |  |  |
| 2.972% due 02/16/2028 •  | 145 | 143 |
| 3.960% due 07/18/2030 •  | 25 | 24 |
| 4.649% due 07/14/2029 •  | 1216 | 1217 |
| 5.537% due 07/14/2036 •  | 1855 | 1861 |
| **Nationwide Mutual Insurance Co.** |  |  |
| 4.350% due 04/30/2050 | 1287 | 978 |
| 4.950% due 04/22/2044 | 54 | 47 |
| **NatWest Group PLC** |  |  |
| 4.964% due 08/15/2030 •  | 5314 | 5362 |
| 5.076% due 01/27/2030 •  | 619 | 626 |
| 5.778% due 03/01/2035 •  | 75 | 78 |
| 5.808% due 09/13/2029 •  | 985 | 1014 |
| **New York Life Global Funding** |  |  |
| 2.350% due 07/14/2026 | 100 | 99 |
| 5.000% due 01/09/2034 | 489 | 493 |
| **New York Life Insurance Co.** |  |  |
| 3.750% due 05/15/2050 | 135 | 98 |
| 4.450% due 05/15/2069 | 169 | 129 |
| 6.750% due 11/15/2039 | 655 | 732 |
| **Nissan Motor Acceptance Co. LLC** |  |  |
| 1.850% due 09/16/2026 | 125 | 123 |
| 2.450% due 09/15/2028 | 100 | 91 |
| **NLG Global Funding**<br>5.400% due 01/23/2030 | 436 | 446 |
| **Nomura Holdings, Inc.**<br>2.172% due 07/14/2028 | 218 | 207 |
| **Nordea Bank Abp** |  |  |
| 1.500% due 09/30/2026 | 55 | 54 |
| 5.375% due 09/22/2027 | 1518 | 1541 |
| **Norinchukin Bank** |  |  |
| 4.867% due 09/14/2027 | 676 | 679 |
| 5.071% due 09/14/2032 (d) | 300 | 300 |
| 5.356% due 03/10/2036 | 1769 | 1751 |
| 5.430% due 03/09/2028 (d) | 1126 | 1144 |
| **Nuveen LLC**<br>4.000% due 11/01/2028 | 60 | 60 |
| **Old Republic International Corp.**<br>3.875% due 08/26/2026 | 702 | 701 |
| **Omega Healthcare Investors, Inc.**<br>3.375% due 02/01/2031 | 2622 | 2425 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Pacific Life Global Funding II** |  |  |
| 1.600% due 09/21/2028 | 2457 | 2293 |
| 4.875% due 07/17/2032 | 1000 | 1004 |
| **Paychex, Inc.**<br>5.100% due 04/15/2030 | 752 | 759 |
| **PNC Financial Services Group, Inc.** |  |  |
| 5.068% due 01/24/2034 •  | 3285 | 3286 |
| 5.354% due 12/02/2028 •  | 47 | 48 |
| 5.373% due 07/21/2036 •  | 4795 | 4818 |
| 5.492% due 05/14/2030 •  | 1642 | 1689 |
| **Popular, Inc.**<br>7.250% due 03/13/2028 | 1317 | 1365 |
| **Pricoa Global Funding I** |  |  |
| 4.350% due 11/25/2030 | 96 | 95 |
| 4.400% due 08/27/2027 | 387 | 389 |
| 4.700% due 05/28/2030 | 590 | 592 |
| **Principal Life Global Funding II**<br>3.000% due 04/18/2026 | 783 | 782 |
| **Progressive Corp.**<br>3.000% due 03/15/2032 | 846 | 774 |
| **Protective Life Global Funding**<br>1.303% due 09/20/2026 | 824 | 813 |
| **Prudential Financial, Inc.**<br>3.000% due 03/10/2040 | 172 | 130 |
| **Prudential Funding Asia PLC**<br>3.125% due 04/14/2030 | 957 | 911 |
| **Realty Income Corp.** |  |  |
| 3.250% due 01/15/2031 | 132 | 124 |
| 4.450% due 09/15/2026 | 509 | 509 |
| **Reinsurance Group of America, Inc.**<br>3.950% due 09/15/2026 | 1199 | 1198 |
| **Reliance Standard Life Global Funding II**<br>1.512% due 09/28/2026 | 157 | 155 |
| **Rexford Industrial Realty LP**<br>2.150% due 09/01/2031 | 1130 | 980 |
| **RGA Global Funding**<br>5.000% due 08/25/2032 | 4573 | 4526 |
| **Royal Bank of Canada** |  |  |
| 4.498% due 08/06/2029 •  | 624 | 624 |
| 4.715% due 03/27/2028 •  | 261 | 262 |
| 4.965% due 01/24/2029 •  | 29 | 29 |
| 4.969% due 08/02/2030 •  | 152 | 154 |
| 5.000% due 02/01/2033 | 909 | 917 |
| 5.000% due 05/02/2033 | 754 | 762 |
| 6.000% due 11/01/2027 | 10 | 10 |
| **Sabra Health Care LP**<br>3.200% due 12/01/2031 | 1683 | 1520 |
| **Santander Holdings USA, Inc.**<br>6.499% due 03/09/2029 •  | 2581 | 2662 |
| **Santander U.K. Group Holdings PLC** |  |  |
| 1.673% due 06/14/2027 •  | 2577 | 2561 |
| 3.823% due 11/03/2028 •  | 30 | 30 |
| **SMBC Aviation Capital Finance DAC** |  |  |
| 1.900% due 10/15/2026 | 1322 | 1304 |
| 5.250% due 11/26/2035 | 619 | 605 |
| **Societe Generale SA** |  |  |
| 1.792% due 06/09/2027 •  | 433 | 431 |
| 3.000% due 01/22/2030 | 493 | 461 |
| 3.337% due 01/21/2033 •  | 3159 | 2853 |
| 5.249% due 05/22/2029 •  | 339 | 342 |
| 6.691% due 01/10/2034 •  | 907 | 969 |
| **Standard Chartered PLC** |  |  |
| 2.678% due 06/29/2032 •  | 172 | 153 |
| 4.299% due 01/13/2030 •  | 3282 | 3248 |
| 4.529% due 06/05/2032 •  | 1658 | 1620 |
| 6.301% due 01/09/2029 •  | 1738 | 1786 |
| **State Street Corp.**<br>5.820% due 11/04/2028 •  | 1067 | 1091 |
| **Stellantis Finance U.S., Inc.** |  |  |
| 2.691% due 09/15/2031 | 2191 | 1853 |
| 6.450% due 03/18/2035 | 491 | 484 |
| **Store Capital LLC**<br>4.500% due 03/15/2028 | 15 | 15 |
| **Sumitomo Mitsui Financial Group, Inc.** |  |  |
| 2.222% due 09/17/2031 | 6971 | 6106 |
| 2.472% due 01/14/2029 | 784 | 744 |
| 2.750% due 01/15/2030 | 4170 | 3894 |
| 5.424% due 07/09/2031 | 645 | 661 |
| 5.766% due 01/13/2033 | 888 | 925 |
| 5.808% due 09/14/2033 | 67 | 70 |
| **Sumitomo Mitsui Trust Bank Ltd.**<br>4.950% due 09/15/2027 | 1565 | 1580 |
| **Sun Communities Operating LP**<br>2.300% due 11/01/2028 | 582 | 551 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Synchrony Financial** |  |  |
| 2.875% due 10/28/2031 | 238 | 208 |
| 5.150% due 03/19/2029 | 979 | 982 |
| **Teachers Insurance & Annuity Association of America**<br>6.850% due 12/16/2039 | 1 | 1 |
| **Toronto-Dominion Bank** |  |  |
| 3.200% due 03/10/2032 | 3943 | 3629 |
| 4.108% due 06/08/2027 | 359 | 358 |
| 4.109% due 10/13/2028 | 184 | 183 |
| 4.808% due 06/03/2030 | 33 | 33 |
| 5.156% due 01/10/2028 | 110 | 111 |
| **Toyota Motor Credit Corp.** |  |  |
| 4.550% due 08/09/2029 | 2559 | 2575 |
| 5.050% due 05/16/2029 | 1461 | 1493 |
| 5.550% due 11/20/2030 | 207 | 216 |
| **TPG Operating Group II LP**<br>5.875% due 03/05/2034 | 363 | 368 |
| **Truist Financial Corp.** |  |  |
| 5.867% due 06/08/2034 •  | 395 | 412 |
| 7.161% due 10/30/2029 •  | 1385 | 1473 |
| **U.S. Bancorp** |  |  |
| 4.548% due 07/22/2028 •  | 1148 | 1149 |
| 4.653% due 02/01/2029 •  | 687 | 690 |
| 4.839% due 02/01/2034 •  | 277 | 274 |
| 5.775% due 06/12/2029 •  | 1260 | 1296 |
| 5.836% due 06/12/2034 •  | 502 | 524 |
| **UBS AG** |  |  |
| 1.250% due 06/01/2026 | 540 | 538 |
| 1.250% due 08/07/2026 | 332 | 329 |
| 4.632% due 02/16/2032 •  | 2487 | 2479 |
| **UBS Group AG** |  |  |
| 3.126% due 08/13/2030 •  | 1492 | 1419 |
| 4.194% due 04/01/2031 •  | 2408 | 2357 |
| 4.751% due 05/12/2028 •  | 1505 | 1509 |
| 4.844% due 11/06/2033 •  | 3670 | 3611 |
| 5.010% due 03/23/2037 •  | 1594 | 1542 |
| 5.528% due 05/06/2047 •  | 1357 | 1297 |
| 5.580% due 05/09/2036 •  | 369 | 374 |
| **UniCredit SpA** |  |  |
| 1.982% due 06/03/2027 •  | 1085 | 1080 |
| 3.127% due 06/03/2032 •  | 145 | 133 |
| **Unum Group** |  |  |
| 4.500% due 12/15/2049 | 710 | 562 |
| 5.250% due 12/15/2035 | 746 | 731 |
| 6.000% due 06/15/2054 | 550 | 521 |
| **VICI Properties LP** |  |  |
| 5.125% due 05/15/2032 | 51 | 50 |
| 5.625% due 05/15/2052 | 1201 | 1074 |
| **VICI Properties LP/VICI Note Co., Inc.** |  |  |
| 4.125% due 08/15/2030 | 2583 | 2474 |
| 4.625% due 12/01/2029 | 3889 | 3825 |
| **Voya Financial, Inc.**<br>5.050% due 03/02/2036 | 2152 | 2080 |
| **Wells Fargo & Co.** |  |  |
| 2.879% due 10/30/2030 •  | 1446 | 1365 |
| 3.068% due 04/30/2041 •  | 376 | 282 |
| 3.350% due 03/02/2033 •  | 320 | 294 |
| 3.526% due 03/24/2028 •  | 1628 | 1615 |
| 3.584% due 05/22/2028 •  | 723 | 716 |
| 4.478% due 04/04/2031 •  | 410 | 407 |
| 4.611% due 04/25/2053 •  | 1206 | 1001 |
| 4.808% due 07/25/2028 •  | 1559 | 1566 |
| 4.897% due 07/25/2033 •  | 4917 | 4894 |
| 4.960% due 01/23/2037 •  | 600 | 585 |
| 5.198% due 01/23/2030 •  | 2354 | 2391 |
| 5.389% due 04/24/2034 •  | 120 | 122 |
| 6.303% due 10/23/2029 •  | 368 | 383 |
| **Wells Fargo Bank NA**<br>5.850% due 02/01/2037 | 550 | 567 |
| **Weyerhaeuser Co.** |  |  |
| 6.875% due 12/15/2033 | 334 | 365 |
| 7.375% due 03/15/2032 | 2167 | 2417 |
| **WP Carey, Inc.**<br>4.650% due 07/15/2030 | 2149 | 2136 |
|  |  | 594246 |
| **INDUSTRIALS 41.4%** |  |  |
| **AbbVie, Inc.** |  |  |
| 2.950% due 11/21/2026 | 1382 | 1372 |
| 3.200% due 05/14/2026 | 25 | 25 |
| 3.200% due 11/21/2029 | 498 | 480 |
| 4.050% due 11/21/2039 | 81 | 71 |
| 4.250% due 11/14/2028 | 184 | 185 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.400% due 11/06/2042 | 52 | 46 |
| 4.550% due 03/15/2035 | 3660 | 3555 |
| 4.950% due 03/15/2031 | 637 | 651 |
| 5.200% due 03/15/2035 | 190 | 193 |
| **Aker BP ASA** |  |  |
| 3.100% due 07/15/2031 | 794 | 726 |
| 5.125% due 10/01/2034 | 1498 | 1467 |
| 5.800% due 10/01/2054 | 2196 | 2009 |
| **Alcon Finance Corp.**<br>2.600% due 05/27/2030 | 2686 | 2486 |
| **Algonquin Power & Utilities Corp.**<br>5.365% due 06/15/2026 þ | 1587 | 1588 |
| **Alibaba Group Holding Ltd.**<br>3.400% due 12/06/2027 | 1118 | 1105 |
| **Alimentation Couche-Tard, Inc.** |  |  |
| 2.950% due 01/25/2030 | 228 | 215 |
| 5.267% due 02/12/2034 | 210 | 211 |
| **Allegion PLC**<br>3.500% due 10/01/2029 | 686 | 661 |
| **Alphabet, Inc.** |  |  |
| 4.700% due 11/15/2035 | 1463 | 1446 |
| 5.650% due 02/15/2056 | 1758 | 1754 |
| **Amazon.com, Inc.** |  |  |
| 2.100% due 05/12/2031 | 4167 | 3736 |
| 2.700% due 06/03/2060 | 1559 | 852 |
| 3.100% due 05/12/2051 | 740 | 484 |
| 3.250% due 05/12/2061 | 1025 | 637 |
| 3.875% due 08/22/2037 | 1892 | 1704 |
| 4.100% due 04/13/2062 | 546 | 408 |
| 4.350% due 03/20/2033 | 241 | 237 |
| 4.800% due 12/05/2034 | 242 | 245 |
| 6.050% due 03/13/2076 | 2786 | 2772 |
| **Amgen, Inc.** |  |  |
| 1.650% due 08/15/2028 | 263 | 248 |
| 2.200% due 02/21/2027 | 76 | 75 |
| 2.450% due 02/21/2030 | 1239 | 1151 |
| 3.000% due 02/22/2029 | 577 | 557 |
| 3.150% due 02/21/2040 | 788 | 613 |
| 3.200% due 11/02/2027 | 595 | 586 |
| 4.200% due 02/22/2052 | 487 | 379 |
| 4.400% due 05/01/2045 | 5020 | 4237 |
| 4.400% due 02/22/2062 | 477 | 369 |
| 5.150% due 03/02/2028 | 1452 | 1474 |
| 5.250% due 03/02/2033 | 30 | 31 |
| 5.750% due 03/02/2063 | 444 | 427 |
| **Amphenol Corp.**<br>2.800% due 02/15/2030 | 160 | 151 |
| **Anglo American Capital PLC** |  |  |
| 3.875% due 03/16/2029 | 355 | 348 |
| 5.000% due 03/21/2033 | 2187 | 2154 |
| 6.000% due 04/05/2054 | 1331 | 1298 |
| **AngloGold Ashanti Holdings PLC**<br>3.750% due 10/01/2030 | 1047 | 1013 |
| **Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.**<br>4.700% due 02/01/2036 | 1637 | 1595 |
| **Anheuser-Busch InBev Finance, Inc.**<br>4.900% due 02/01/2046 | 1007 | 905 |
| **Anheuser-Busch InBev Worldwide, Inc.** |  |  |
| 3.500% due 06/01/2030 | 60 | 58 |
| 4.750% due 01/23/2029 | 541 | 548 |
| 4.950% due 01/15/2042 | 113 | 105 |
| 5.000% due 06/15/2034 | 699 | 707 |
| 5.450% due 01/23/2039 | 134 | 136 |
| 5.800% due 01/23/2059 | 260 | 261 |
| **Apple, Inc.** |  |  |
| 2.375% due 02/08/2041 | 120 | 85 |
| 2.800% due 02/08/2061 | 73 | 42 |
| 2.850% due 08/05/2061 | 172 | 100 |
| 3.850% due 08/04/2046 | 1263 | 1003 |
| 3.950% due 08/08/2052 | 941 | 731 |
| 4.650% due 02/23/2046 | 1095 | 985 |
| **Arrow Electronics, Inc.**<br>5.150% due 08/21/2029 | 219 | 221 |
| **Astrazeneca Finance LLC** |  |  |
| 1.750% due 05/28/2028 | 283 | 269 |
| 2.250% due 05/28/2031 | 820 | 738 |
| **AstraZeneca PLC**<br>4.000% due 01/17/2029 | 1469 | 1466 |
| **Atlassian Corp.**<br>5.250% due 05/15/2029 | 1689 | 1700 |
| **Autodesk, Inc.**<br>2.850% due 01/15/2030 | 55 | 52 |
| **AutoNation, Inc.** |  |  |
| 3.800% due 11/15/2027 | 130 | 128 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.750% due 06/01/2030 | 490 | 487 |
| **AutoZone, Inc.**<br>4.750% due 08/01/2032 | 558 | 553 |
| **Bacardi Ltd.** |  |  |
| 2.750% due 07/15/2026 | 100 | 100 |
| 4.700% due 05/15/2028 | 1134 | 1133 |
| 5.300% due 05/15/2048 | 206 | 180 |
| **BAE Systems PLC** |  |  |
| 1.900% due 02/15/2031 | 4070 | 3589 |
| 3.400% due 04/15/2030 | 1590 | 1525 |
| **Baidu, Inc.**<br>1.720% due 04/09/2026 | 53 | 53 |
| **Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.**<br>5.000% due 06/15/2036 | 2163 | 2124 |
| **BAT Capital Corp.**<br>4.540% due 08/15/2047 | 533 | 433 |
| **Bayer U.S. Finance II LLC** |  |  |
| 4.375% due 12/15/2028 | 2842 | 2814 |
| 4.650% due 11/15/2043 | 501 | 401 |
| **Bayer U.S. Finance LLC** |  |  |
| 6.250% due 01/21/2029 | 381 | 396 |
| 6.500% due 11/21/2033 | 2293 | 2439 |
| 6.875% due 11/21/2053 | 1357 | 1431 |
| **Becton Dickinson & Co.** |  |  |
| 1.957% due 02/11/2031 | 521 | 460 |
| 2.823% due 05/20/2030 | 3611 | 3368 |
| **BHP Billiton Finance USA Ltd.**<br>5.250% due 09/08/2030 | 50 | 51 |
| **BMW U.S. Capital LLC** |  |  |
| 2.550% due 04/01/2031 | 55 | 50 |
| 3.300% due 04/06/2027 | 50 | 49 |
| 4.150% due 04/09/2030 | 3944 | 3858 |
| 5.050% due 03/21/2030 | 175 | 177 |
| **Boardwalk Pipelines LP**<br>3.400% due 02/15/2031 | 2550 | 2380 |
| **Boeing Co.** |  |  |
| 2.250% due 06/15/2026 | 150 | 149 |
| 3.100% due 05/01/2026 | 10 | 10 |
| 3.250% due 02/01/2028 | 1398 | 1371 |
| 3.600% due 05/01/2034 | 665 | 596 |
| 3.625% due 02/01/2031 | 1800 | 1713 |
| 3.950% due 08/01/2059 | 2921 | 2017 |
| 5.150% due 05/01/2030 | 2840 | 2889 |
| 5.705% due 05/01/2040 | 1670 | 1673 |
| 5.805% due 05/01/2050 | 100 | 97 |
| **Booz Allen Hamilton, Inc.** |  |  |
| 3.875% due 09/01/2028 | 155 | 151 |
| 5.950% due 08/04/2033 | 1008 | 1030 |
| **Boston Scientific Corp.**<br>6.250% due 11/15/2035 | 93 | 103 |
| **BP Capital Markets America, Inc.** |  |  |
| 2.772% due 11/10/2050 | 434 | 267 |
| 2.939% due 06/04/2051 | 25 | 16 |
| 4.970% due 10/17/2029 | 544 | 556 |
| **Bristol-Myers Squibb Co.** |  |  |
| 1.450% due 11/13/2030 | 1 | 1 |
| 3.900% due 03/15/2062 | 212 | 150 |
| **Broadcom, Inc.** |  |  |
| 1.950% due 02/15/2028 | 1307 | 1255 |
| 2.450% due 02/15/2031 | 501 | 455 |
| 2.600% due 02/15/2033 | 1457 | 1274 |
| 3.137% due 11/15/2035 | 1151 | 978 |
| 3.187% due 11/15/2036 | 2257 | 1887 |
| 3.419% due 04/15/2033 | 1350 | 1235 |
| 3.469% due 04/15/2034 | 1966 | 1771 |
| 4.150% due 11/15/2030 | 1222 | 1203 |
| 4.150% due 04/15/2032 | 1254 | 1214 |
| 4.926% due 05/15/2037 | 1534 | 1489 |
| **Cameron LNG LLC**<br>3.701% due 01/15/2039 | 2266 | 1923 |
| **Campbell's Co.** |  |  |
| 3.125% due 04/24/2050 | 102 | 61 |
| 4.550% due 03/21/2031 | 398 | 386 |
| 5.200% due 03/21/2029 | 172 | 174 |
| 5.250% due 10/13/2054 | 133 | 110 |
| **Canadian Natural Resources Ltd.** |  |  |
| 5.000% due 12/15/2029 | 443 | 450 |
| 5.400% due 12/15/2034 | 618 | 625 |
| 6.450% due 06/30/2033 | 125 | 134 |
| **Carlisle Cos., Inc.**<br>3.750% due 12/01/2027 | 150 | 148 |
| **Carnival Corp.**<br>4.000% due 08/01/2028 | 3766 | 3679 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Carrier Global Corp.**<br>2.722% due 02/15/2030 | 1976 | 1846 |
| **Caterpillar, Inc.**<br>5.300% due 09/15/2035 | 30 | 31 |
| **CDW LLC/CDW Finance Corp.** |  |  |
| 2.670% due 12/01/2026 | 1052 | 1040 |
| 3.250% due 02/15/2029 | 1035 | 986 |
| 3.276% due 12/01/2028 | 422 | 406 |
| 3.569% due 12/01/2031 | 1373 | 1256 |
| 4.250% due 04/01/2028 | 147 | 145 |
| 5.100% due 03/01/2030 | 1481 | 1479 |
| **Cenovus Energy, Inc.** |  |  |
| 5.400% due 03/20/2036 | 900 | 896 |
| 5.400% due 06/15/2047 | 546 | 496 |
| 6.750% due 11/15/2039 | 257 | 281 |
| **Centene Corp.** |  |  |
| 2.450% due 07/15/2028 | 550 | 513 |
| 2.500% due 03/01/2031 | 292 | 245 |
| 2.625% due 08/01/2031 | 220 | 184 |
| 3.000% due 10/15/2030 | 2325 | 2039 |
| 4.250% due 12/15/2027 | 246 | 242 |
| 4.625% due 12/15/2029 | 4680 | 4446 |
| **CenterPoint Energy Resources Corp.**<br>1.750% due 10/01/2030 | 611 | 542 |
| **CF Industries, Inc.**<br>5.150% due 03/15/2034 | 4570 | 4544 |
| **CGI, Inc.**<br>4.950% due 03/14/2030 | 2354 | 2367 |
| **Charter Communications Operating LLC/Charter Communications Operating Capital** |  |  |
| 2.250% due 01/15/2029 | 338 | 316 |
| 2.800% due 04/01/2031 | 150 | 135 |
| 3.750% due 02/15/2028 | 692 | 680 |
| 3.850% due 04/01/2061 | 1385 | 810 |
| 3.950% due 06/30/2062 | 1279 | 752 |
| 4.200% due 03/15/2028 | 190 | 188 |
| 5.250% due 04/01/2053 | 550 | 432 |
| 5.375% due 04/01/2038 | 371 | 333 |
| 6.100% due 06/01/2029 | 1980 | 2051 |
| 6.650% due 02/01/2034 | 1171 | 1222 |
| **Cheniere Corpus Christi Holdings LLC** |  |  |
| 2.742% due 12/31/2039 | 4681 | 3961 |
| 3.700% due 11/15/2029 | 129 | 125 |
| **Chevron USA, Inc.**<br>2.343% due 08/12/2050 | 2193 | 1263 |
| **Choice Hotels International, Inc.**<br>3.700% due 01/15/2031 | 597 | 560 |
| **Cigna Group** |  |  |
| 3.875% due 10/15/2047 | 560 | 422 |
| 4.375% due 10/15/2028 | 170 | 170 |
| 4.800% due 08/15/2038 | 100 | 94 |
| 4.800% due 07/15/2046 | 313 | 270 |
| 5.600% due 02/15/2054 | 2319 | 2198 |
| **CK Hutchison International 24 Ltd.**<br>5.500% due 04/26/2034 | 452 | 468 |
| **Clorox Co.**<br>1.800% due 05/15/2030 | 785 | 703 |
| **Coca-Cola Co.** |  |  |
| 1.375% due 03/15/2031 | 143 | 125 |
| 2.125% due 09/06/2029 | 139 | 131 |
| 2.500% due 06/01/2040 | 474 | 347 |
| **Comcast Corp.** |  |  |
| 2.650% due 02/01/2030 | 202 | 189 |
| 2.887% due 11/01/2051 | 1800 | 1041 |
| 2.937% due 11/01/2056 | 150 | 83 |
| 3.400% due 07/15/2046 | 585 | 400 |
| 3.750% due 04/01/2040 | 466 | 378 |
| 3.969% due 11/01/2047 | 1016 | 748 |
| 4.000% due 08/15/2047 | 931 | 694 |
| 4.049% due 11/01/2052 | 285 | 204 |
| 4.950% due 10/15/2058 | 160 | 131 |
| 6.050% due 05/15/2055 (d) | 1244 | 1232 |
| **Conagra Brands, Inc.** |  |  |
| 4.850% due 11/01/2028 | 280 | 280 |
| 5.300% due 11/01/2038 | 859 | 799 |
| 5.750% due 08/01/2035 (d)(h) | 4051 | 4063 |
| **ConocoPhillips Co.** |  |  |
| 3.758% due 03/15/2042 | 11 | 9 |
| 3.800% due 03/15/2052 | 1513 | 1106 |
| 4.300% due 11/15/2044 | 1642 | 1380 |
| **Constellation Brands, Inc.** |  |  |
| 2.875% due 05/01/2030 | 3863 | 3616 |
| 3.150% due 08/01/2029 | 2 | 2 |
| 4.800% due 01/15/2029 | 192 | 193 |
| 5.250% due 11/15/2048 | 1 | 1 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Continental Resources, Inc.** |  |  |
| 2.268% due 11/15/2026 | 1198 | 1179 |
| 4.375% due 01/15/2028 | 100 | 99 |
| **Corp. Nacional del Cobre de Chile** |  |  |
| 3.150% due 01/14/2030 | 210 | 197 |
| 5.950% due 01/08/2034 | 1812 | 1854 |
| **Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC**<br>5.600% due 01/15/2031 | 1856 | 1798 |
| **Cox Communications, Inc.** |  |  |
| 1.800% due 10/01/2030 | 2688 | 2338 |
| 5.450% due 09/01/2034 | 2090 | 2007 |
| **CRH America Finance, Inc.**<br>3.400% due 05/09/2027 | 969 | 960 |
| **CRH SMW Finance DAC**<br>5.200% due 05/21/2029 | 2699 | 2759 |
| **CSX Corp.** |  |  |
| 4.100% due 03/15/2044 | 1098 | 907 |
| 6.220% due 04/30/2040 | 1683 | 1819 |
| **CVS Health Corp.** |  |  |
| 1.750% due 08/21/2030 | 10 | 9 |
| 3.000% due 08/15/2026 | 20 | 20 |
| 3.250% due 08/15/2029 | 1652 | 1583 |
| 3.625% due 04/01/2027 | 953 | 945 |
| 4.125% due 04/01/2040 | 632 | 528 |
| 5.050% due 03/25/2048 | 3069 | 2635 |
| 5.125% due 02/21/2030 | 1530 | 1552 |
| 5.125% due 07/20/2045 | 2330 | 2047 |
| 5.450% due 09/15/2035 | 2236 | 2245 |
| 6.000% due 06/01/2044 | 118 | 116 |
| 6.000% due 06/01/2063 | 100 | 95 |
| **Daimler Truck Finance North America LLC** |  |  |
| 2.375% due 12/14/2028 | 2465 | 2331 |
| 2.500% due 12/14/2031 | 1856 | 1635 |
| 5.625% due 01/13/2035 | 549 | 558 |
| **Darden Restaurants, Inc.**<br>6.300% due 10/10/2033 | 1599 | 1713 |
| **DCP Midstream Operating LP** |  |  |
| 5.125% due 05/15/2029 | 1493 | 1520 |
| 5.625% due 07/15/2027 | 380 | 385 |
| **Dell International LLC/EMC Corp.**<br>8.100% due 07/15/2036 | 488 | 580 |
| **Delta Air Lines, Inc./SkyMiles IP Ltd.**<br>4.750% due 10/20/2028 | 9 | 9 |
| **Devon Energy Corp.** |  |  |
| 5.000% due 06/15/2045 | 244 | 214 |
| 5.200% due 09/15/2034 | 288 | 289 |
| 5.750% due 09/15/2054 | 1791 | 1685 |
| **Diageo Capital PLC**<br>2.000% due 04/29/2030 | 590 | 535 |
| **Diamondback Energy, Inc.** |  |  |
| 5.900% due 04/18/2064 | 2705 | 2562 |
| 6.250% due 03/15/2033 | 427 | 456 |
| **Discovery Global Holdings, Inc.** |  |  |
| 5.050% due 03/15/2042 | 576 | 381 |
| 5.141% due 03/15/2052 | 264 | 161 |
| **Dow Chemical Co.**<br>2.100% due 11/15/2030 | 157 | 138 |
| **Eastern Energy Gas Holdings LLC**<br>6.200% due 01/15/2055 | 312 | 317 |
| **Elevance Health, Inc.** |  |  |
| 2.250% due 05/15/2030 | 1511 | 1377 |
| 3.600% due 03/15/2051 | 149 | 104 |
| 3.700% due 09/15/2049 | 250 | 178 |
| 4.100% due 05/15/2032 | 277 | 266 |
| 4.550% due 03/01/2048 | 2363 | 1955 |
| 4.850% due 08/15/2054 | 807 | 667 |
| 5.125% due 02/15/2053 | 1632 | 1435 |
| **Eli Lilly & Co.** |  |  |
| 4.150% due 03/15/2059 | 1293 | 1009 |
| 4.900% due 10/15/2035 | 30 | 30 |
| 5.100% due 02/12/2035 | 132 | 135 |
| 5.950% due 11/15/2037 | 331 | 358 |
| **EMD Finance LLC** |  |  |
| 4.375% due 10/15/2030 | 500 | 494 |
| 4.625% due 10/15/2032 | 2133 | 2103 |
| **Enbridge, Inc.** |  |  |
| 2.500% due 08/01/2033 | 1111 | 944 |
| 3.125% due 11/15/2029 | 1121 | 1069 |
| 5.250% due 04/05/2027 | 71 | 72 |
| 5.900% due 11/15/2026 | 200 | 202 |
| 5.950% due 04/05/2054 | 432 | 430 |
| 6.000% due 11/15/2028 | 230 | 239 |
| 6.200% due 11/15/2030 | 500 | 530 |
| 6.700% due 11/15/2053 | 4148 | 4505 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Energy Transfer LP** |  |  |
| 4.950% due 05/15/2028 | 2213 | 2233 |
| 5.000% due 05/15/2050 | 2311 | 1919 |
| 5.250% due 04/15/2029 | 120 | 122 |
| 5.300% due 04/15/2047 | 1157 | 1025 |
| 5.350% due 05/15/2045 | 64 | 57 |
| 5.600% due 09/01/2034 | 2812 | 2867 |
| 5.950% due 05/15/2054 | 256 | 240 |
| 6.100% due 12/01/2028 | 569 | 591 |
| 6.200% due 04/01/2055 | 800 | 778 |
| 6.250% due 04/15/2049 | 1204 | 1182 |
| 6.550% due 12/01/2033 | 239 | 258 |
| 7.375% due 02/01/2031 | 120 | 124 |
| **Eni SpA** |  |  |
| 5.500% due 05/15/2034 | 732 | 750 |
| 5.950% due 05/15/2054 | 3253 | 3239 |
| **Entergy Louisiana LLC** |  |  |
| 2.900% due 03/15/2051 | 836 | 513 |
| 4.200% due 09/01/2048 | 4648 | 3681 |
| 5.800% due 03/15/2055 | 1356 | 1331 |
| **Enterprise Products Operating LLC** |  |  |
| 3.200% due 02/15/2052 | 3341 | 2180 |
| 3.950% due 01/31/2060 | 1341 | 969 |
| 4.200% due 01/31/2050 | 4001 | 3182 |
| 4.250% due 02/15/2048 | 496 | 400 |
| 4.800% due 02/01/2049 | 642 | 560 |
| 4.850% due 08/15/2042 | 396 | 361 |
| **EQT Corp.** |  |  |
| 3.900% due 10/01/2027 | 60 | 59 |
| 7.000% due 02/01/2030 | 330 | 353 |
| **Equifax, Inc.**<br>7.000% due 07/01/2037 | 364 | 403 |
| **Equinor ASA** |  |  |
| 2.375% due 05/22/2030 | 2333 | 2156 |
| 3.625% due 04/06/2040 | 15 | 13 |
| **ERAC USA Finance LLC**<br>7.000% due 10/15/2037 | 645 | 736 |
| **Essential Utilities, Inc.** |  |  |
| 2.704% due 04/15/2030 | 607 | 564 |
| 5.375% due 01/15/2034 | 859 | 871 |
| **Expand Energy Corp.**<br>4.750% due 02/01/2032 | 196 | 191 |
| **FedEx Corp.** |  |  |
| 3.100% due 08/05/2029 | 450 | 432 |
| 4.050% due 02/15/2048 | 80 | 61 |
| 4.100% due 02/01/2045 | 160 | 126 |
| 4.250% due 05/15/2030 | 133 | 132 |
| 4.750% due 11/15/2045 | 39 | 33 |
| **Fidelity National Information Services, Inc.**<br>3.100% due 03/01/2041 | 749 | 539 |
| **FirstEnergy Pennsylvania Electric Co.** |  |  |
| 3.600% due 06/01/2029 | 640 | 622 |
| 4.300% due 01/15/2029 | 125 | 124 |
| **Fiserv, Inc.** |  |  |
| 3.200% due 07/01/2026 | 939 | 936 |
| 3.500% due 07/01/2029 | 54 | 52 |
| 4.400% due 07/01/2049 | 461 | 349 |
| 4.750% due 03/15/2030 | 1110 | 1100 |
| 5.250% due 08/11/2035 | 117 | 114 |
| **Flex Intermediate Holdco LLC**<br>3.363% due 06/30/2031 | 557 | 507 |
| **Flex Ltd.** |  |  |
| 4.875% due 06/15/2029 | 581 | 584 |
| 5.250% due 01/15/2032 | 1240 | 1245 |
| **Flutter Treasury DAC**<br>6.375% due 04/29/2029 | 1042 | 1064 |
| **Ford Motor Co.**<br>4.750% due 01/15/2043 | 322 | 243 |
| **Foundry JV Holdco LLC**<br>5.900% due 01/25/2030 | 200 | 207 |
| **Fox Corp.** |  |  |
| 5.476% due 01/25/2039 | 328 | 317 |
| 5.576% due 01/25/2049 | 1460 | 1347 |
| **Freeport Indonesia PT**<br>4.763% due 04/14/2027 | 376 | 377 |
| **Freeport-McMoRan, Inc.**<br>4.125% due 03/01/2028 | 2092 | 2076 |
| **Fresenius Medical Care U.S. Finance III, Inc.**<br>2.375% due 02/16/2031 | 660 | 586 |
| **Gartner, Inc.** |  |  |
| 4.500% due 07/01/2028 | 1519 | 1494 |
| 4.950% due 03/20/2031 | 600 | 586 |
| **GE HealthCare Technologies, Inc.**<br>5.905% due 11/22/2032 | 203 | 214 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **General Motors Co.** |  |  |
| 5.400% due 04/01/2048 | 1228 | 1076 |
| 6.600% due 04/01/2036 | 78 | 83 |
| 6.750% due 04/01/2046 | 46 | 48 |
| 6.800% due 10/01/2027 | 1915 | 1970 |
| **Gilead Sciences, Inc.** |  |  |
| 1.200% due 10/01/2027 | 540 | 518 |
| 2.800% due 10/01/2050 | 1011 | 627 |
| 2.950% due 03/01/2027 | 106 | 105 |
| 4.000% due 09/01/2036 | 12 | 11 |
| 4.800% due 11/15/2029 | 337 | 343 |
| **Glencore Funding LLC** |  |  |
| 3.875% due 10/27/2027 | 100 | 99 |
| 5.400% due 05/08/2028 | 2751 | 2794 |
| 5.508% due 04/01/2036 (a) | 3000 | 3008 |
| **Global Payments, Inc.** |  |  |
| 3.200% due 08/15/2029 | 17 | 16 |
| 4.150% due 08/15/2049 | 1100 | 786 |
| 5.550% due 11/15/2035 | 1373 | 1324 |
| 5.950% due 08/15/2052 | 126 | 116 |
| **Graphic Packaging International LLC**<br>1.512% due 04/15/2026 | 230 | 230 |
| **Gulfstream Natural Gas System LLC**<br>5.600% due 07/23/2035 | 7303 | 7406 |
| **Haleon U.S. Capital LLC**<br>3.375% due 03/24/2027 | 2157 | 2137 |
| **Halliburton Co.**<br>5.000% due 11/15/2045 | 306 | 272 |
| **Hasbro, Inc.**<br>3.900% due 11/19/2029 | 1199 | 1171 |
| **HCA, Inc.** |  |  |
| 2.375% due 07/15/2031 | 473 | 418 |
| 3.125% due 03/15/2027 | 163 | 161 |
| 3.500% due 07/15/2051 | 770 | 510 |
| 3.625% due 03/15/2032 | 3536 | 3287 |
| 4.125% due 06/15/2029 | 2016 | 1989 |
| 4.375% due 03/15/2042 | 2347 | 1976 |
| 4.500% due 02/15/2027 | 10 | 10 |
| 5.250% due 06/15/2049 | 3843 | 3394 |
| 5.500% due 03/01/2032 | 344 | 353 |
| 5.875% due 02/01/2029 | 60 | 62 |
| **Health Care Service Corp. A Mutual Legal Reserve Co.**<br>5.200% due 06/15/2029 | 200 | 203 |
| **Hess Corp.** |  |  |
| 5.800% due 04/01/2047 | 1529 | 1544 |
| 7.125% due 03/15/2033 | 251 | 286 |
| **Home Depot, Inc.** |  |  |
| 1.375% due 03/15/2031 | 1444 | 1248 |
| 2.375% due 03/15/2051 | 2207 | 1237 |
| 2.700% due 04/15/2030 | 501 | 471 |
| 3.125% due 12/15/2049 | 3012 | 1997 |
| 4.250% due 04/01/2046 | 7 | 6 |
| 4.500% due 12/06/2048 | 212 | 178 |
| 4.950% due 09/15/2052 | 1202 | 1073 |
| **Howmet Aerospace, Inc.**<br>6.750% due 01/15/2028 | 130 | 136 |
| **Humana, Inc.** |  |  |
| 5.750% due 03/01/2028 | 786 | 802 |
| 8.150% due 06/15/2038 | 323 | 379 |
| **Huntington Ingalls Industries, Inc.**<br>2.043% due 08/16/2028 | 1199 | 1136 |
| **Hyatt Hotels Corp.** |  |  |
| 5.250% due 06/30/2029 | 2104 | 2137 |
| 5.750% due 03/30/2032 | 997 | 1025 |
| **Hyundai Capital America** |  |  |
| 1.500% due 06/15/2026 | 772 | 767 |
| 1.650% due 09/17/2026 | 1316 | 1299 |
| 2.000% due 06/15/2028 | 1141 | 1079 |
| 2.100% due 09/15/2028 | 247 | 233 |
| 4.600% due 04/06/2028 (a) | 4100 | 4100 |
| 5.600% due 03/30/2028 | 451 | 460 |
| **Icon Investments Six DAC**<br>6.000% due 05/08/2034 | 347 | 352 |
| **Illumina, Inc.**<br>2.550% due 03/23/2031 | 1216 | 1090 |
| **Imperial Brands Finance PLC** |  |  |
| 3.500% due 07/26/2026 | 244 | 243 |
| 6.125% due 07/27/2027 | 370 | 378 |
| **Intel Corp.** |  |  |
| 3.100% due 02/15/2060 | 1319 | 729 |
| 4.875% due 02/10/2028 | 915 | 922 |
| 5.600% due 02/21/2054 | 3236 | 2971 |
| **International Business Machines Corp.** |  |  |
| 4.400% due 07/27/2032 | 585 | 573 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.900% due 07/27/2052 | 1159 | 978 |
| **International Flavors & Fragrances, Inc.**<br>4.450% due 09/26/2028 | 2138 | 2132 |
| **IQVIA, Inc.**<br>5.700% due 05/15/2028 | 1737 | 1772 |
| **Japan Tobacco, Inc.**<br>5.250% due 06/15/2030 | 997 | 1023 |
| **JBS NV/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. Holdings** |  |  |
| 3.625% due 01/15/2032 | 337 | 313 |
| 6.500% due 12/01/2052 | 908 | 920 |
| **JDE Peet's NV**<br>2.250% due 09/24/2031 | 1139 | 991 |
| **Keurig Dr. Pepper, Inc.** |  |  |
| 4.050% due 04/15/2032 | 1752 | 1659 |
| 4.500% due 04/15/2052 | 1805 | 1409 |
| **Kinder Morgan, Inc.** |  |  |
| 5.000% due 02/01/2029 | 509 | 517 |
| 5.050% due 02/15/2046 | 309 | 276 |
| 5.300% due 12/01/2034 | 1614 | 1627 |
| 5.450% due 08/01/2052 | 972 | 898 |
| 5.550% due 06/01/2045 | 2972 | 2837 |
| **Kraft Heinz Foods Co.** |  |  |
| 6.875% due 01/26/2039 | 2051 | 2219 |
| 7.125% due 08/01/2039 | 1267 | 1386 |
| **Kroger Co.** |  |  |
| 5.000% due 09/15/2034 | 1133 | 1119 |
| 7.500% due 04/01/2031 | 153 | 173 |
| **L3Harris Technologies, Inc.** |  |  |
| 3.850% due 12/15/2026 | 2237 | 2229 |
| 4.400% due 06/15/2028 | 713 | 714 |
| **Las Vegas Sands Corp.**<br>6.000% due 08/15/2029 | 3115 | 3203 |
| **Leidos, Inc.** |  |  |
| 2.300% due 02/15/2031 | 1149 | 1023 |
| 4.375% due 05/15/2030 | 1024 | 1008 |
| **Lennar Corp.** |  |  |
| 5.200% due 07/30/2030 | 1764 | 1786 |
| 5.250% due 06/01/2026 | 48 | 48 |
| **LKQ Corp.**<br>5.750% due 06/15/2028 | 1227 | 1249 |
| **Lockheed Martin Corp.** |  |  |
| 4.300% due 06/15/2062 | 262 | 204 |
| 5.900% due 11/15/2063 | 493 | 504 |
| **Lowe's Cos., Inc.**<br>3.100% due 05/03/2027 | 583 | 576 |
| **LYB International Finance III LLC**<br>6.150% due 05/15/2035 | 750 | 772 |
| **Marriott International, Inc.** |  |  |
| 2.850% due 04/15/2031 | 928 | 850 |
| 3.500% due 10/15/2032 | 868 | 799 |
| 4.625% due 06/15/2030 | 5377 | 5379 |
| 5.100% due 04/15/2032 | 159 | 162 |
| 5.250% due 10/15/2035 | 953 | 948 |
| **Mars, Inc.** |  |  |
| 5.000% due 03/01/2032 | 5839 | 5910 |
| 5.200% due 03/01/2035 | 1292 | 1305 |
| **Marvell Technology, Inc.** |  |  |
| 2.450% due 04/15/2028 | 378 | 364 |
| 4.875% due 06/22/2028 | 459 | 464 |
| 5.750% due 02/15/2029 | 240 | 248 |
| **Masco Corp.**<br>1.500% due 02/15/2028 | 819 | 776 |
| **Massachusetts Institute of Technology**<br>3.885% due 07/01/2116 | 172 | 117 |
| **McDonald's Corp.** |  |  |
| 2.625% due 09/01/2029 | 2278 | 2160 |
| 3.500% due 07/01/2027 | 1617 | 1603 |
| 4.875% due 12/09/2045 | 3431 | 3060 |
| 5.700% due 02/01/2039 | 252 | 261 |
| **Medtronic Global Holdings SCA**<br>4.250% due 03/30/2028 | 4306 | 4316 |
| **Merck & Co., Inc.** |  |  |
| 1.700% due 06/10/2027 | 1353 | 1318 |
| 2.900% due 12/10/2061 | 4075 | 2328 |
| **Meta Platforms, Inc.** |  |  |
| 3.850% due 08/15/2032 | 3242 | 3095 |
| 4.550% due 08/15/2031 | 635 | 638 |
| 4.600% due 11/15/2032 | 2315 | 2293 |
| 4.650% due 08/15/2062 | 4710 | 3651 |
| 4.875% due 11/15/2035 | 748 | 734 |
| 5.400% due 08/15/2054 | 257 | 233 |
| 5.550% due 08/15/2064 | 1112 | 1000 |
| **Micron Technology, Inc.**<br>6.050% due 11/01/2035 | 731 | 789 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Microsoft Corp.** |  |  |
| 1.350% due 09/15/2030 | 10 | 9 |
| 2.525% due 06/01/2050 | 3017 | 1810 |
| 2.675% due 06/01/2060 | 929 | 519 |
| 2.921% due 03/17/2052 | 60 | 39 |
| **Molson Coors Beverage Co.**<br>4.200% due 07/15/2046 | 802 | 627 |
| **Mondelez International Holdings Netherlands BV**<br>1.250% due 09/24/2026 | 1204 | 1187 |
| **Mondelez International, Inc.**<br>6.500% due 11/01/2031 | 913 | 992 |
| **Motorola Solutions, Inc.** |  |  |
| 2.300% due 11/15/2030 | 1189 | 1073 |
| 2.750% due 05/24/2031 | 289 | 263 |
| 4.600% due 02/23/2028 | 7 | 7 |
| 4.600% due 05/23/2029 | 558 | 559 |
| 5.500% due 09/01/2044 | 899 | 862 |
| **MPLX LP** |  |  |
| 4.125% due 03/01/2027 | 321 | 320 |
| 4.700% due 04/15/2048 | 40 | 33 |
| 4.950% due 03/14/2052 | 3620 | 3008 |
| 5.200% due 03/01/2047 | 1705 | 1509 |
| 5.500% due 02/15/2049 | 743 | 672 |
| **MSCI, Inc.** |  |  |
| 3.625% due 09/01/2030 | 130 | 123 |
| 3.875% due 02/15/2031 | 756 | 715 |
| 4.000% due 11/15/2029 | 3609 | 3507 |
| **National Fuel Gas Co.** |  |  |
| 5.500% due 10/01/2026 | 200 | 201 |
| 5.950% due 03/15/2035 | 800 | 828 |
| **Nestle Capital Corp.**<br>4.750% due 03/12/2031 | 101 | 102 |
| **Nestle Holdings, Inc.**<br>5.000% due 03/14/2028 | 945 | 962 |
| **Netflix, Inc.** |  |  |
| 4.375% due 11/15/2026 | 28 | 28 |
| 4.875% due 04/15/2028 | 1905 | 1930 |
| 6.375% due 05/15/2029 | 502 | 532 |
| **Norfolk Southern Corp.** |  |  |
| 4.100% due 05/15/2121 | 242 | 164 |
| 5.950% due 03/15/2064 | 1687 | 1672 |
| **Northrop Grumman Corp.**<br>3.850% due 04/15/2045 | 200 | 158 |
| **Novartis Capital Corp.**<br>4.100% due 11/05/2030 | 120 | 119 |
| **NTT Finance Corp.** |  |  |
| 1.162% due 04/03/2026 | 120 | 120 |
| 4.620% due 07/16/2028 | 1200 | 1205 |
| 5.104% due 07/02/2027 | 1313 | 1325 |
| 5.110% due 07/02/2029 | 1203 | 1221 |
| 5.171% due 07/16/2032 | 763 | 769 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.** |  |  |
| 2.500% due 05/11/2031 | 3839 | 3447 |
| 3.150% due 05/01/2027 | 132 | 130 |
| 4.300% due 06/18/2029 | 800 | 793 |
| 4.400% due 06/01/2027 | 100 | 100 |
| 5.000% due 01/15/2033 | 1194 | 1189 |
| **Occidental Petroleum Corp.** |  |  |
| 6.050% due 10/01/2054 | 1200 | 1168 |
| 6.450% due 09/15/2036 | 3306 | 3535 |
| 6.625% due 09/01/2030 | 163 | 175 |
| 7.500% due 05/01/2031 | 600 | 668 |
| **ONE Gas, Inc.**<br>5.100% due 04/01/2029 | 494 | 504 |
| **Open Text Corp.**<br>6.900% due 12/01/2027 | 735 | 755 |
| **Oracle Corp.** |  |  |
| 2.300% due 03/25/2028 | 1656 | 1578 |
| 3.950% due 03/25/2051 | 3282 | 2081 |
| 4.125% due 05/15/2045 | 1661 | 1145 |
| 4.900% due 02/06/2033 | 812 | 770 |
| 5.200% due 09/26/2035 | 2076 | 1948 |
| 5.350% due 05/04/2033 | 1000 | 974 |
| 5.375% due 07/15/2040 | 60 | 53 |
| 5.950% due 09/26/2055 | 2524 | 2125 |
| 6.550% due 02/04/2046 | 500 | 467 |
| **Otis Worldwide Corp.**<br>2.565% due 02/15/2030 | 10 | 9 |
| **Ovintiv, Inc.**<br>7.100% due 07/15/2053 | 638 | 693 |
| **Owens Corning** |  |  |
| 3.400% due 08/15/2026 | 100 | 100 |
| 5.700% due 06/15/2034 | 20 | 21 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Paramount Global** |  |  |
| 2.900% due 01/15/2027 | 188 | 185 |
| 3.700% due 06/01/2028 | 261 | 253 |
| 4.200% due 05/19/2032 | 200 | 172 |
| 4.600% due 01/15/2045 | 69 | 41 |
| 4.850% due 07/01/2042 | 335 | 214 |
| 4.900% due 08/15/2044 | 1202 | 748 |
| 4.950% due 05/19/2050 | 65 | 39 |
| 5.850% due 09/01/2043 | 3 | 2 |
| **Penske Truck Leasing Co. LP/PTL Finance Corp.** |  |  |
| 1.700% due 06/15/2026 | 2 | 2 |
| 3.400% due 11/15/2026 | 1363 | 1353 |
| 5.875% due 11/15/2027 | 943 | 961 |
| **PepsiCo, Inc.**<br>4.600% due 07/17/2045 | 672 | 591 |
| **Pfizer Investment Enterprises Pte. Ltd.**<br>4.650% due 05/19/2030 | 452 | 456 |
| **Philip Morris International, Inc.** |  |  |
| 1.750% due 11/01/2030 | 744 | 659 |
| 2.100% due 05/01/2030 | 3756 | 3419 |
| 3.875% due 08/21/2042 | 443 | 356 |
| 5.250% due 02/13/2034 | 1196 | 1218 |
| 5.625% due 11/17/2029 | 323 | 336 |
| 5.750% due 11/17/2032 | 323 | 340 |
| 6.375% due 05/16/2038 | 431 | 470 |
| **PRA Health Sciences, Inc.**<br>2.875% due 07/15/2026 | 557 | 553 |
| **Prosus NV** |  |  |
| 3.680% due 01/21/2030 | 1592 | 1508 |
| 4.027% due 08/03/2050 | 116 | 78 |
| 4.193% due 01/19/2032 | 180 | 170 |
| **Qatarenergy LNG S3**<br>5.838% due 09/30/2027 | 100 | 100 |
| **Qorvo, Inc.**<br>4.375% due 10/15/2029 | 1021 | 1000 |
| **Quanta Services, Inc.** |  |  |
| 2.350% due 01/15/2032 | 2415 | 2104 |
| 2.900% due 10/01/2030 | 56 | 52 |
| 5.250% due 08/09/2034 | 308 | 310 |
| **Regeneron Pharmaceuticals, Inc.**<br>2.800% due 09/15/2050 | 2758 | 1671 |
| **RELX Capital, Inc.** |  |  |
| 3.000% due 05/22/2030 | 914 | 861 |
| 4.000% due 03/18/2029 | 2333 | 2310 |
| **Renesas Electronics Corp.**<br>2.170% due 11/25/2026 | 1058 | 1042 |
| **Repsol E&P Capital Markets U.S. LLC**<br>5.976% due 09/16/2035 | 2034 | 2071 |
| **Republic Services, Inc.** |  |  |
| 3.375% due 11/15/2027 | 943 | 931 |
| 4.875% due 04/01/2029 | 508 | 516 |
| **Roche Holdings, Inc.** |  |  |
| 4.790% due 03/08/2029 | 2213 | 2256 |
| 5.338% due 11/13/2028 | 925 | 952 |
| 5.489% due 11/13/2030 | 496 | 519 |
| **Rogers Communications, Inc.** |  |  |
| 4.500% due 03/15/2042 | 3 | 3 |
| 5.000% due 02/15/2029 | 3926 | 3967 |
| **Royalty Pharma PLC** |  |  |
| 3.300% due 09/02/2040 | 653 | 496 |
| 3.350% due 09/02/2051 | 224 | 145 |
| 3.550% due 09/02/2050 | 2815 | 1901 |
| 5.150% due 09/02/2029 | 1302 | 1326 |
| **RTX Corp.** |  |  |
| 1.900% due 09/01/2031 | 275 | 239 |
| 4.050% due 05/04/2047 | 2041 | 1620 |
| 4.125% due 11/16/2028 | 238 | 237 |
| 4.500% due 06/01/2042 | 1358 | 1206 |
| 5.750% due 11/08/2026 | 888 | 896 |
| **S&P Global, Inc.** |  |  |
| 2.900% due 03/01/2032 | 626 | 571 |
| 2.950% due 03/01/2029 | 565 | 544 |
| 4.250% due 01/15/2031 | 272 | 269 |
| **SABIC Capital II BV**<br>4.500% due 10/10/2028 | 73 | 72 |
| **Sabine Pass Liquefaction LLC** |  |  |
| 4.500% due 05/15/2030 | 812 | 806 |
| 5.900% due 09/15/2037 | 62 | 65 |
| **Santos Finance Ltd.**<br>3.649% due 04/29/2031 | 2964 | 2775 |
| **Saudi Arabian Oil Co.**<br>5.250% due 07/17/2034 | 40 | 40 |
| **Schlumberger Holdings Corp.**<br>5.000% due 05/29/2027 | 1370 | 1380 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sealed Air Corp.**<br>1.573% due 10/15/2026 | 1197 | 1195 |
| **Sherwin-Williams Co.** |  |  |
| 2.900% due 03/15/2052 | 80 | 48 |
| 2.950% due 08/15/2029 | 793 | 756 |
| 4.300% due 08/15/2028 | 223 | 223 |
| 4.550% due 08/01/2045 | 53 | 45 |
| **SK Hynix, Inc.** |  |  |
| 5.500% due 01/16/2027 | 5 | 5 |
| 6.375% due 01/17/2028 | 646 | 667 |
| **Skyworks Solutions, Inc.**<br>1.800% due 06/01/2026 | 567 | 564 |
| **Smith & Nephew PLC**<br>2.032% due 10/14/2030 | 929 | 827 |
| **Snam SpA**<br>5.750% due 05/28/2035 | 1442 | 1471 |
| **South Bow USA Infrastructure Holdings LLC** |  |  |
| 5.026% due 10/01/2029 | 1100 | 1107 |
| 5.584% due 10/01/2034 | 2330 | 2315 |
| **South32 Treasury Ltd.**<br>4.350% due 04/14/2032 | 1042 | 1004 |
| **Southern Co.** |  |  |
| 1.750% due 03/15/2028 | 146 | 139 |
| 4.400% due 07/01/2046 | 1048 | 863 |
| 4.850% due 06/15/2028 | 178 | 180 |
| 4.850% due 03/15/2035 | 565 | 550 |
| 5.500% due 03/15/2029 | 232 | 239 |
| **Southwest Airlines Co.**<br>5.125% due 06/15/2027 | 190 | 191 |
| **Spectra Energy Partners LP** |  |  |
| 3.375% due 10/15/2026 | 80 | 80 |
| 4.500% due 03/15/2045 | 806 | 676 |
| **Spirit AeroSystems, Inc.**<br>4.600% due 06/15/2028 | 600 | 601 |
| **Starbucks Corp.** |  |  |
| 2.550% due 11/15/2030 | 1107 | 1013 |
| 3.000% due 02/14/2032 | 4586 | 4180 |
| **Steel Dynamics, Inc.**<br>3.250% due 01/15/2031 | 50 | 47 |
| **Stryker Corp.** |  |  |
| 1.950% due 06/15/2030 | 1251 | 1129 |
| 4.250% due 09/11/2029 | 719 | 716 |
| **Sydney Airport Finance Co. Pty. Ltd.**<br>3.625% due 04/28/2026 | 50 | 50 |
| **Synopsys, Inc.** |  |  |
| 4.850% due 04/01/2030 | 1007 | 1015 |
| 5.150% due 04/01/2035 | 2050 | 2055 |
| **Sysco Corp.** |  |  |
| 5.100% due 09/23/2030 | 2093 | 2110 |
| 5.950% due 04/01/2030 | 158 | 164 |
| 6.000% due 01/17/2034 | 1833 | 1914 |
| **T-Mobile USA, Inc.** |  |  |
| 2.250% due 11/15/2031 | 215 | 189 |
| 2.400% due 03/15/2029 | 510 | 481 |
| 2.625% due 04/15/2026 | 51 | 51 |
| 2.700% due 03/15/2032 | 1512 | 1346 |
| 3.000% due 02/15/2041 | 2623 | 1919 |
| 3.400% due 10/15/2052 | 1445 | 947 |
| 3.600% due 11/15/2060 | 2842 | 1847 |
| 3.750% due 04/15/2027 | 1916 | 1904 |
| 3.875% due 04/15/2030 | 100 | 97 |
| 4.200% due 10/01/2029 | 68 | 68 |
| 4.375% due 04/15/2040 | 4927 | 4334 |
| 4.850% due 01/15/2029 | 501 | 507 |
| 5.650% due 01/15/2053 | 170 | 161 |
| 5.750% due 01/15/2034 | 1204 | 1256 |
| **Take-Two Interactive Software, Inc.** |  |  |
| 3.700% due 04/14/2027 | 1191 | 1181 |
| 4.000% due 04/14/2032 | 55 | 52 |
| **Takeda Pharmaceutical Co. Ltd.**<br>3.375% due 07/09/2060 | 3655 | 2301 |
| **Targa Resources Corp.** |  |  |
| 4.950% due 04/15/2052 | 156 | 131 |
| 5.200% due 07/01/2027 | 264 | 266 |
| 5.500% due 02/15/2035 | 285 | 288 |
| 6.125% due 05/15/2055 | 820 | 804 |
| 6.250% due 07/01/2052 | 1162 | 1162 |
| 6.500% due 02/15/2053 | 507 | 521 |
| **TD SYNNEX Corp.** |  |  |
| 1.750% due 08/09/2026 | 1190 | 1178 |
| 5.300% due 10/10/2035 | 1050 | 1018 |
| **Telefonica Emisiones SA** |  |  |
| 4.103% due 03/08/2027 | 1195 | 1190 |
| 4.665% due 03/06/2038 | 1813 | 1640 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 7.045% due 06/20/2036 | 425 | 469 |
| **Tencent Holdings Ltd.** |  |  |
| 3.925% due 01/19/2038 | 59 | 54 |
| 3.975% due 04/11/2029 | 561 | 559 |
| 4.525% due 04/11/2049 | 212 | 186 |
| **Tennessee Gas Pipeline Co. LLC** |  |  |
| 2.900% due 03/01/2030 | 529 | 496 |
| 7.625% due 04/01/2037 | 1193 | 1406 |
| **Textron, Inc.**<br>3.900% due 09/17/2029 | 52 | 51 |
| **Thermo Fisher Scientific, Inc.** |  |  |
| 2.600% due 10/01/2029 | 747 | 706 |
| 4.473% due 10/07/2032 | 716 | 709 |
| **Time Warner Cable Enterprises LLC**<br>8.375% due 07/15/2033 | 2824 | 3199 |
| **TotalEnergies Capital International SA**<br>3.386% due 06/29/2060 | 1159 | 746 |
| **TotalEnergies Capital SA** |  |  |
| 5.425% due 09/10/2064 | 1083 | 1008 |
| 5.638% due 04/05/2064 | 550 | 528 |
| **Toyota Industries Corp.**<br>3.566% due 03/16/2028 | 456 | 448 |
| **TransCanada PipeLines Ltd.** |  |  |
| 4.100% due 04/15/2030 | 340 | 334 |
| 4.250% due 05/15/2028 | 516 | 514 |
| 4.625% due 03/01/2034 | 1171 | 1134 |
| 7.625% due 01/15/2039 | 2180 | 2558 |
| **Triton Container International Ltd./TAL International Container Corp.**<br>5.150% due 02/15/2033 | 1952 | 1913 |
| **TWDC Enterprises 18 Corp.** |  |  |
| 2.950% due 06/15/2027 | 570 | 563 |
| 7.000% due 03/01/2032 | 128 | 143 |
| **Union Pacific Corp.** |  |  |
| 2.800% due 02/14/2032 | 1326 | 1206 |
| 3.375% due 02/01/2035 | 120 | 107 |
| **United Airlines Pass-Through Trust**<br>5.800% due 07/15/2037 | 1231 | 1272 |
| **United Rentals North America, Inc.** |  |  |
| 3.875% due 11/15/2027 | 325 | 321 |
| 6.000% due 12/15/2029 | 316 | 321 |
| **UnitedHealth Group, Inc.** |  |  |
| 1.150% due 05/15/2026 | 79 | 79 |
| 2.000% due 05/15/2030 | 642 | 581 |
| 2.900% due 05/15/2050 | 1152 | 718 |
| 3.050% due 05/15/2041 | 1454 | 1079 |
| 3.125% due 05/15/2060 | 158 | 94 |
| 3.375% due 04/15/2027 | 156 | 155 |
| 3.700% due 08/15/2049 | 2593 | 1867 |
| 3.750% due 10/15/2047 | 192 | 143 |
| 3.875% due 08/15/2059 | 728 | 508 |
| 4.250% due 01/15/2029 | 1699 | 1696 |
| 4.450% due 12/15/2048 | 75 | 61 |
| 4.500% due 04/15/2033 | 104 | 102 |
| 4.625% due 07/15/2035 | 122 | 118 |
| 4.650% due 01/15/2031 | 2345 | 2356 |
| 4.750% due 07/15/2045 | 1647 | 1438 |
| 4.750% due 05/15/2052 | 550 | 463 |
| 4.950% due 05/15/2062 | 771 | 648 |
| 5.000% due 04/15/2034 | 240 | 240 |
| 5.050% due 04/15/2053 | 862 | 759 |
| 5.250% due 02/15/2028 | 241 | 245 |
| 5.300% due 02/15/2030 | 49 | 50 |
| 5.350% due 02/15/2033 | 115 | 118 |
| 5.500% due 04/15/2064 | 45 | 41 |
| 5.625% due 07/15/2054 | 29 | 28 |
| 5.950% due 06/15/2055 | 124 | 125 |
| 6.050% due 02/15/2063 | 187 | 187 |
| 6.625% due 11/15/2037 | 41 | 45 |
| 6.875% due 02/15/2038 | 628 | 707 |
| **Valero Energy Corp.**<br>5.150% due 03/10/2036 | 2927 | 2886 |
| **Var Energi ASA**<br>8.000% due 11/15/2032 | 2973 | 3389 |
| **Verisk Analytics, Inc.**<br>4.125% due 03/15/2029 | 1832 | 1823 |
| **Viper Energy Partners LLC**<br>5.700% due 08/01/2035 | 3807 | 3839 |
| **VMware LLC** |  |  |
| 1.400% due 08/15/2026 | 736 | 728 |
| 1.800% due 08/15/2028 | 115 | 108 |
| 2.200% due 08/15/2031 | 1174 | 1031 |
| **Volkswagen Group of America Finance LLC** |  |  |
| 4.850% due 08/15/2027 | 1033 | 1036 |
| 5.050% due 03/27/2028 | 42 | 42 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.250% due 03/22/2029 | 564 | 571 |
| 5.650% due 09/12/2028 | 1696 | 1729 |
| 5.650% due 03/25/2032 | 493 | 501 |
| 6.200% due 11/16/2028 | 3334 | 3449 |
| **Walmart, Inc.**<br>4.500% due 04/15/2053 | 1201 | 1040 |
| **Walt Disney Co.** |  |  |
| 3.800% due 05/13/2060 | 20 | 14 |
| 6.650% due 11/15/2037 | 121 | 136 |
| **Waste Connections, Inc.**<br>2.950% due 01/15/2052 | 700 | 444 |
| **Weir Group, Inc.**<br>5.350% due 05/06/2030 | 487 | 494 |
| **Western Midstream Operating LP**<br>5.500% due 12/15/2035 | 1000 | 984 |
| **Westinghouse Air Brake Technologies Corp.**<br>4.700% due 09/15/2028 | 2669 | 2677 |
| **Williams Cos., Inc.** |  |  |
| 4.650% due 08/15/2032 | 421 | 417 |
| 5.300% due 08/15/2052 | 409 | 369 |
| 5.400% due 03/04/2044 | 1509 | 1410 |
| **WMG Acquisition Corp.** |  |  |
| 3.750% due 12/01/2029 | 437 | 416 |
| 3.875% due 07/15/2030 | 967 | 910 |
| **Woodside Finance Ltd.** |  |  |
| 3.700% due 09/15/2026 | 1197 | 1193 |
| 5.100% due 09/12/2034 | 1354 | 1333 |
| 6.000% due 05/19/2035 | 4156 | 4333 |
| **Workday, Inc.** |  |  |
| 3.700% due 04/01/2029 | 720 | 701 |
| 3.800% due 04/01/2032 | 856 | 795 |
| **WRKCo, Inc.**<br>4.200% due 06/01/2032 | 722 | 694 |
| **Wyeth LLC**<br>5.950% due 04/01/2037 | 915 | 970 |
| **Zimmer Biomet Holdings, Inc.**<br>3.550% due 03/20/2030 | 55 | 53 |
|  |  | 668275 |
| **UTILITIES 14.4%** |  |  |
| **AEP Texas, Inc.** |  |  |
| 2.100% due 07/01/2030 | 123 | 111 |
| 3.450% due 01/15/2050 | 1556 | 1041 |
| 5.250% due 05/15/2052 | 81 | 72 |
| 5.850% due 10/15/2055 | 100 | 97 |
| **AES Corp.** |  |  |
| 2.450% due 01/15/2031 | 4886 | 4325 |
| 5.450% due 06/01/2028 | 236 | 238 |
| 5.800% due 03/15/2032 | 200 | 201 |
| **Alabama Power Co.** |  |  |
| 3.450% due 10/01/2049 | 410 | 285 |
| 4.300% due 03/15/2031 | 138 | 137 |
| **Ameren Corp.**<br>5.700% due 12/01/2026 | 70 | 71 |
| **Ameren Illinois Co.** |  |  |
| 3.700% due 12/01/2047 | 1180 | 881 |
| 4.800% due 12/15/2043 | 51 | 46 |
| **American Electric Power Co., Inc.**<br>5.200% due 01/15/2029 | 489 | 499 |
| **American Water Capital Corp.** |  |  |
| 3.000% due 12/01/2026 | 51 | 51 |
| 4.200% due 09/01/2048 | 719 | 572 |
| 5.450% due 03/01/2054 | 216 | 206 |
| 5.700% due 09/01/2055 | 109 | 107 |
| **Appalachian Power Co.**<br>7.000% due 04/01/2038 | 1292 | 1438 |
| **Arizona Public Service Co.** |  |  |
| 2.200% due 12/15/2031 | 61 | 53 |
| 4.500% due 04/01/2042 | 56 | 48 |
| 5.700% due 08/15/2034 | 3701 | 3838 |
| **AT&T, Inc.** |  |  |
| 1.650% due 02/01/2028 | 399 | 380 |
| 3.500% due 06/01/2041 | 913 | 709 |
| 3.500% due 09/15/2053 | 3949 | 2591 |
| 3.550% due 09/15/2055 | 241 | 157 |
| 3.650% due 09/15/2059 | 7435 | 4822 |
| 3.800% due 12/01/2057 | 2658 | 1799 |
| 3.850% due 06/01/2060 | 355 | 239 |
| 4.100% due 02/15/2028 | 1928 | 1919 |
| 4.300% due 12/15/2042 | 37 | 31 |
| 4.500% due 03/09/2048 | 469 | 379 |
| 4.550% due 03/09/2049 | 180 | 145 |
| 4.750% due 04/30/2033 | 1119 | 1109 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.750% due 05/15/2046 | 167 | 140 |
| 4.850% due 03/01/2039 | 987 | 922 |
| 5.400% due 02/15/2034 | 120 | 123 |
| **Atmos Energy Corp.** |  |  |
| 1.500% due 01/15/2031 | 229 | 200 |
| 4.150% due 01/15/2043 | 1253 | 1056 |
| **Avangrid, Inc.**<br>3.800% due 06/01/2029 | 1458 | 1423 |
| **Baltimore Gas & Electric Co.**<br>5.400% due 06/01/2053 | 118 | 111 |
| **Berkshire Hathaway Energy Co.** |  |  |
| 1.650% due 05/15/2031 | 2004 | 1739 |
| 2.850% due 05/15/2051 | 89 | 54 |
| 3.250% due 04/15/2028 | 376 | 369 |
| 3.700% due 07/15/2030 | 838 | 815 |
| 4.450% due 01/15/2049 | 176 | 143 |
| 4.500% due 02/01/2045 | 236 | 200 |
| 6.125% due 04/01/2036 | 1332 | 1422 |
| **Black Hills Corp.** |  |  |
| 3.150% due 01/15/2027 | 1194 | 1185 |
| 4.200% due 09/15/2046 | 100 | 78 |
| 6.000% due 01/15/2035 | 1129 | 1173 |
| 6.150% due 05/15/2034 | 25 | 26 |
| **Boston Gas Co.**<br>3.001% due 08/01/2029 | 800 | 760 |
| **BP Capital Markets PLC**<br>4.875% due 03/22/2030 •(c) | 51 | 50 |
| **British Telecommunications PLC**<br>9.625% due 12/15/2030 | 1358 | 1623 |
| **Brooklyn Union Gas Co.** |  |  |
| 4.487% due 03/04/2049 | 58 | 46 |
| 4.504% due 03/10/2046 | 61 | 50 |
| 4.866% due 08/05/2032 | 501 | 491 |
| **Capital Power U.S. Holdings, Inc.**<br>6.189% due 06/01/2035 | 939 | 963 |
| **CenterPoint Energy Houston Electric LLC**<br>4.950% due 04/01/2033 | 2595 | 2610 |
| **CenterPoint Energy, Inc.**<br>1.450% due 06/01/2026 | 591 | 588 |
| **Chile Electricity Lux MPC II SARL**<br>5.672% due 10/20/2035 | 1208 | 1221 |
| **Cleveland Electric Illuminating Co.**<br>4.550% due 11/15/2030 | 120 | 119 |
| **Columbia Pipelines Holding Co. LLC**<br>6.042% due 08/15/2028 | 1501 | 1550 |
| **Commonwealth Edison Co.** |  |  |
| 3.700% due 03/01/2045 | 324 | 247 |
| 3.750% due 08/15/2047 | 196 | 147 |
| 4.000% due 03/01/2048 | 3704 | 2885 |
| 5.650% due 06/01/2054 | 1088 | 1064 |
| **Connecticut Light & Power Co.**<br>4.000% due 04/01/2048 | 151 | 117 |
| **Consolidated Edison Co. of New York, Inc.** |  |  |
| 3.000% due 12/01/2060 | 683 | 398 |
| 3.600% due 06/15/2061 | 1050 | 704 |
| 3.850% due 06/15/2046 | 2496 | 1914 |
| 6.150% due 11/15/2052 | 1270 | 1322 |
| **Constellation Energy Generation LLC**<br>5.600% due 06/15/2042 | 1303 | 1283 |
| **Consumers Energy Co.**<br>4.600% due 05/30/2029 | 463 | 466 |
| **Dominion Energy South Carolina, Inc.**<br>5.300% due 01/15/2035 | 458 | 468 |
| **Dominion Energy, Inc.** |  |  |
| 3.300% due 04/15/2041 | 557 | 414 |
| 3.375% due 04/01/2030 | 364 | 348 |
| 5.375% due 11/15/2032 | 642 | 657 |
| 7.000% due 06/01/2054 •  | 1057 | 1118 |
| **DTE Electric Co.** |  |  |
| 3.000% due 03/01/2032 | 1224 | 1129 |
| 5.200% due 04/01/2033 | 363 | 372 |
| **DTE Energy Co.**<br>3.400% due 06/15/2029 | 2790 | 2701 |
| **Duke Energy Carolinas LLC** |  |  |
| 2.450% due 08/15/2029 | 12 | 11 |
| 2.550% due 04/15/2031 | 680 | 622 |
| 2.850% due 03/15/2032 | 939 | 855 |
| 3.550% due 03/15/2052 | 530 | 375 |
| 3.875% due 03/15/2046 | 60 | 47 |
| 4.950% due 01/15/2033 | 241 | 245 |
| 6.000% due 12/01/2028 | 1049 | 1094 |
| **Duke Energy Corp.** |  |  |
| 2.450% due 06/01/2030 | 713 | 657 |
| 2.550% due 06/15/2031 | 10 | 9 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 3.150% due 08/15/2027 | 129 | 127 |
| 3.300% due 06/15/2041 | 15 | 11 |
| 3.400% due 06/15/2029 | 10 | 10 |
| 3.500% due 06/15/2051 | 1417 | 950 |
| 3.750% due 09/01/2046 | 471 | 348 |
| 5.000% due 08/15/2052 | 178 | 152 |
| 6.100% due 09/15/2053 | 115 | 115 |
| **Duke Energy Florida LLC** |  |  |
| 2.400% due 12/15/2031 | 1430 | 1279 |
| 3.400% due 10/01/2046 | 848 | 604 |
| 5.650% due 04/01/2040 | 11 | 11 |
| **Duke Energy Indiana LLC**<br>3.750% due 05/15/2046 | 550 | 421 |
| **Duke Energy Progress LLC** |  |  |
| 3.400% due 04/01/2032 | 1845 | 1727 |
| 3.450% due 03/15/2029 | 12 | 12 |
| 3.600% due 09/15/2047 | 100 | 73 |
| 4.000% due 04/01/2052 | 292 | 221 |
| 5.250% due 03/15/2033 | 1893 | 1950 |
| **Duquesne Light Holdings, Inc.**<br>3.616% due 08/01/2027 | 126 | 125 |
| **Edison International**<br>5.750% due 06/15/2027 | 454 | 458 |
| **Electricite de France SA** |  |  |
| 6.375% due 01/13/2055 | 1354 | 1384 |
| 6.900% due 05/23/2053 | 1783 | 1909 |
| **Emera U.S. Finance LP**<br>4.750% due 06/15/2046 | 765 | 632 |
| **Enel Finance America LLC**<br>2.875% due 07/12/2041 | 70 | 49 |
| **ENEL Finance International NV** |  |  |
| 4.375% due 09/30/2030 | 1473 | 1447 |
| 5.000% due 06/15/2032 | 1796 | 1795 |
| 6.000% due 10/07/2039 | 1465 | 1487 |
| **Entergy Mississippi LLC**<br>5.800% due 04/15/2055 | 74 | 73 |
| **Evergy, Inc.**<br>2.900% due 09/15/2029 | 3218 | 3053 |
| **Eversource Energy** |  |  |
| 2.900% due 03/01/2027 | 176 | 174 |
| 3.375% due 03/01/2032 | 768 | 704 |
| 4.600% due 07/01/2027 | 789 | 790 |
| 5.000% due 01/01/2027 | 50 | 50 |
| 5.125% due 05/15/2033 | 966 | 963 |
| **Exelon Corp.**<br>4.450% due 04/15/2046 | 250 | 205 |
| **FirstEnergy Corp.** |  |  |
| 2.250% due 09/01/2030 | 774 | 698 |
| 3.900% due 07/15/2027 | 30 | 30 |
| **FirstEnergy Transmission LLC**<br>2.866% due 09/15/2028 | 528 | 508 |
| **Florida Power & Light Co.** |  |  |
| 2.875% due 12/04/2051 | 415 | 258 |
| 3.150% due 10/01/2049 | 4682 | 3143 |
| 3.990% due 03/01/2049 | 10 | 8 |
| 4.125% due 02/01/2042 | 968 | 825 |
| **Fortis, Inc.**<br>3.055% due 10/04/2026 | 28 | 28 |
| **Galaxy Pipeline Assets Bidco Ltd.**<br>1.750% due 09/30/2027 | 1 | 1 |
| **Georgia Power Co.** |  |  |
| 2.650% due 09/15/2029 | 496 | 470 |
| 5.200% due 03/15/2035 | 353 | 359 |
| 5.250% due 03/15/2034 | 1132 | 1156 |
| **Indiana Michigan Power Co.**<br>4.250% due 08/15/2048 | 1193 | 951 |
| **Interstate Power & Light Co.** |  |  |
| 3.100% due 11/30/2051 | 28 | 18 |
| 3.700% due 09/15/2046 | 25 | 18 |
| 6.250% due 07/15/2039 | 128 | 136 |
| **Jersey Central Power & Light Co.**<br>2.750% due 03/01/2032 | 872 | 784 |
| **Kentucky Utilities Co.** |  |  |
| 5.125% due 11/01/2040 | 344 | 332 |
| 5.450% due 04/15/2033 | 2059 | 2129 |
| **KeySpan Gas East Corp.**<br>2.742% due 08/15/2026 | 1333 | 1324 |
| **LLPL Capital Pte. Ltd.**<br>6.875% due 02/04/2039 | 181 | 184 |
| **Massachusetts Electric Co.**<br>5.867% due 02/26/2054 | 30 | 29 |
| **MidAmerican Energy Co.**<br>4.250% due 07/15/2049 | 4870 | 3909 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Mississippi Power Co.**<br>3.950% due 03/30/2028 | 114 | 113 |
| **National Grid PLC**<br>5.602% due 06/12/2028 | 500 | 512 |
| **National Rural Utilities Cooperative Finance Corp.**<br>4.850% due 02/07/2029 | 491 | 497 |
| **New York State Electric & Gas Corp.** |  |  |
| 2.150% due 10/01/2031 | 100 | 87 |
| 3.250% due 12/01/2026 | 1083 | 1075 |
| **NextEra Energy Capital Holdings, Inc.** |  |  |
| 2.440% due 01/15/2032 | 451 | 398 |
| 5.000% due 02/28/2030 | 320 | 325 |
| 5.450% due 03/15/2035 | 249 | 253 |
| **NGPL PipeCo LLC**<br>4.875% due 08/15/2027 | 303 | 304 |
| **Niagara Mohawk Power Corp.**<br>5.112% due 01/12/2036 | 4417 | 4345 |
| **NiSource, Inc.** |  |  |
| 2.950% due 09/01/2029 | 1362 | 1295 |
| 5.000% due 06/15/2052 | 130 | 113 |
| 5.400% due 06/30/2033 | 135 | 138 |
| **Northern States Power Co.**<br>2.900% due 03/01/2050 | 2669 | 1727 |
| **NSTAR Electric Co.**<br>4.400% due 03/01/2044 | 43 | 36 |
| **Oglethorpe Power Corp.**<br>6.200% due 12/01/2053 | 537 | 549 |
| **Oklahoma Gas & Electric Co.** |  |  |
| 4.150% due 04/01/2047 | 10 | 8 |
| 4.550% due 03/15/2044 | 30 | 25 |
| **Oncor Electric Delivery Co. LLC**<br>3.100% due 09/15/2049 | 828 | 541 |
| **ONEOK, Inc.** |  |  |
| 3.400% due 09/01/2029 | 1354 | 1303 |
| 4.250% due 09/24/2027 | 476 | 475 |
| 4.400% due 10/15/2029 | 1709 | 1699 |
| 4.550% due 07/15/2028 | 695 | 696 |
| 4.750% due 10/15/2031 | 638 | 631 |
| 5.200% due 07/15/2048 | 1255 | 1104 |
| 6.100% due 11/15/2032 | 1121 | 1182 |
| 6.500% due 09/01/2030 | 1408 | 1491 |
| **Orange SA**<br>5.000% due 01/13/2036 | 2516 | 2472 |
| **Pacific Gas & Electric Co.** |  |  |
| 2.500% due 02/01/2031 | 420 | 377 |
| 3.250% due 06/01/2031 | 81 | 75 |
| 3.300% due 12/01/2027 | 501 | 491 |
| 3.300% due 08/01/2040 | 260 | 195 |
| 3.750% due 07/01/2028 | 1460 | 1434 |
| 3.950% due 12/01/2047 | 1050 | 765 |
| 4.550% due 07/01/2030 | 103 | 101 |
| 4.650% due 08/01/2028 | 52 | 52 |
| 4.950% due 07/01/2050 | 103 | 85 |
| 5.200% due 05/01/2036 | 2930 | 2857 |
| 5.450% due 06/15/2027 | 1207 | 1219 |
| 5.700% due 03/01/2035 | 400 | 406 |
| 5.800% due 05/15/2034 | 3380 | 3465 |
| 6.100% due 01/15/2029 | 1506 | 1559 |
| **PacifiCorp** |  |  |
| 2.900% due 06/15/2052 | 314 | 179 |
| 4.150% due 02/15/2050 | 472 | 345 |
| 5.100% due 02/15/2029 | 117 | 119 |
| 5.100% due 04/15/2031 | 2500 | 2507 |
| 5.350% due 12/01/2053 | 390 | 335 |
| 5.450% due 02/15/2034 | 2145 | 2138 |
| 5.800% due 04/15/2036 | 1000 | 1008 |
| 7.125% due 08/15/2056 •  | 2834 | 2678 |
| **PECO Energy Co.**<br>3.000% due 09/15/2049 | 736 | 480 |
| **Perusahaan Perseroan Persero PT Perusahaan Listrik Negara**<br>4.125% due 05/15/2027 | 429 | 426 |
| **Piedmont Natural Gas Co., Inc.**<br>2.500% due 03/15/2031 | 58 | 53 |
| **Pinnacle West Capital Corp.**<br>4.469% (SOFRRATE + 0.820%) due 06/10/2026 ~ | 287 | 287 |
| **Plains All American Pipeline LP/PAA Finance Corp.**<br>5.150% due 06/01/2042 | 2194 | 1971 |
| **Public Service Co. of Colorado** |  |  |
| 1.900% due 01/15/2031 | 754 | 666 |
| 2.700% due 01/15/2051 | 550 | 328 |
| 3.550% due 06/15/2046 | 52 | 37 |
| 5.350% due 05/15/2034 | 252 | 257 |
| 5.850% due 05/15/2055 | 1244 | 1234 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Public Service Electric & Gas Co.**<br>4.650% due 03/15/2033 | 2761 | 2731 |
| **Public Service Enterprise Group, Inc.**<br>5.875% due 10/15/2028 | 734 | 758 |
| **Puget Energy, Inc.** |  |  |
| 4.100% due 06/15/2030 | 629 | 610 |
| 4.224% due 03/15/2032 | 1397 | 1334 |
| **Puget Sound Energy, Inc.** |  |  |
| 3.250% due 09/15/2049 | 242 | 162 |
| 5.795% due 03/15/2040 | 30 | 31 |
| **RWE Finance U.S. LLC** |  |  |
| 5.875% due 04/16/2034 | 421 | 435 |
| 6.250% due 04/16/2054 | 324 | 327 |
| **San Diego Gas & Electric Co.** |  |  |
| 1.700% due 10/01/2030 | 748 | 662 |
| 3.000% due 03/15/2032 | 1167 | 1062 |
| 4.150% due 05/15/2048 | 632 | 497 |
| 5.350% due 04/01/2053 | 435 | 401 |
| **Sempra** |  |  |
| 3.250% due 06/15/2027 | 59 | 58 |
| 5.500% due 08/01/2033 | 484 | 499 |
| **Shell Finance U.S., Inc.** |  |  |
| 3.125% due 11/07/2049 | 217 | 144 |
| 5.125% due 10/15/2041 | 525 | 502 |
| **Sierra Pacific Power Co.**<br>6.375% due 09/15/2056 •  | 2459 | 2440 |
| **Softbank Corp.**<br>4.699% due 07/09/2030 | 1000 | 995 |
| **Southern California Edison Co.** |  |  |
| 2.850% due 08/01/2029 | 1450 | 1368 |
| 2.950% due 02/01/2051 | 120 | 72 |
| 3.650% due 02/01/2050 | 1640 | 1126 |
| 4.000% due 04/01/2047 | 43 | 32 |
| 4.125% due 03/01/2048 | 2557 | 1916 |
| 5.450% due 06/01/2031 | 2664 | 2726 |
| 5.450% due 03/01/2035 | 2891 | 2903 |
| **Southern California Gas Co.** |  |  |
| 4.125% due 06/01/2048 | 1748 | 1358 |
| 4.450% due 03/15/2044 | 52 | 45 |
| 5.450% due 06/15/2035 | 141 | 145 |
| 5.600% due 04/01/2054 | 3406 | 3249 |
| 6.000% due 06/15/2055 | 119 | 119 |
| **Southern Co. Gas Capital Corp.**<br>4.050% due 09/15/2028 | 117 | 116 |
| **Southern Power Co.**<br>5.150% due 09/15/2041 | 580 | 547 |
| **Southwest Gas Corp.** |  |  |
| 4.050% due 03/15/2032 | 713 | 682 |
| 5.450% due 03/23/2028 | 1205 | 1228 |
| **Southwestern Electric Power Co.**<br>4.100% due 09/15/2028 | 922 | 916 |
| **Southwestern Public Service Co.** |  |  |
| 3.150% due 05/01/2050 | 1770 | 1148 |
| 3.700% due 08/15/2047 | 177 | 131 |
| 3.750% due 06/15/2049 | 314 | 228 |
| **Tampa Electric Co.**<br>4.350% due 05/15/2044 | 30 | 25 |
| **Targa Resources Partners LP/Targa Resources Partners Finance Corp.**<br>4.000% due 01/15/2032 | 49 | 47 |
| **TELUS Corp.**<br>3.400% due 05/13/2032 | 451 | 411 |
| **Tucson Electric Power Co.**<br>5.200% due 09/15/2034 | 2585 | 2602 |
| **Union Electric Co.** |  |  |
| 2.150% due 03/15/2032 | 965 | 843 |
| 2.625% due 03/15/2051 | 206 | 122 |
| 3.900% due 04/01/2052 | 387 | 292 |
| **Verizon Communications, Inc.** |  |  |
| 2.355% due 03/15/2032 | 5558 | 4853 |
| 2.550% due 03/21/2031 | 1677 | 1523 |
| 2.850% due 09/03/2041 | 296 | 208 |
| 2.987% due 10/30/2056 | 111 | 65 |
| 3.400% due 03/22/2041 | 444 | 341 |
| 3.700% due 03/22/2061 | 1210 | 807 |
| 4.000% due 03/22/2050 | 878 | 664 |
| 4.016% due 12/03/2029 | 499 | 492 |
| 4.125% due 08/15/2046 | 155 | 123 |
| 4.672% due 03/15/2055 | 311 | 254 |
| 4.780% due 02/15/2035 | 1471 | 1424 |
| 4.812% due 03/15/2039 | 2030 | 1894 |
| 5.000% due 01/15/2036 | 688 | 674 |
| 5.401% due 07/02/2037 | 416 | 415 |
| **Virginia Electric & Power Co.** |  |  |
| 2.950% due 11/15/2051 | 160 | 98 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.625% due 05/15/2052 | 772 | 636 |
| 5.550% due 08/15/2054 | 680 | 645 |
| 5.600% due 09/15/2055 | 88 | 84 |
| 5.650% due 03/15/2055 | 116 | 111 |
| 6.000% due 01/15/2036 | 60 | 63 |
| 8.875% due 11/15/2038 | 1985 | 2586 |
| **Vistra Operations Co. LLC** |  |  |
| 4.300% due 07/15/2029 | 2149 | 2113 |
| 4.600% due 10/15/2030 | 2910 | 2854 |
| **Vodafone Group PLC** |  |  |
| 5.750% due 02/10/2063 | 2414 | 2248 |
| 6.150% due 02/27/2037 | 87 | 93 |
| **WEC Energy Group, Inc.**<br>2.200% due 12/15/2028 | 1849 | 1747 |
| **Wisconsin Power & Light Co.**<br>3.950% due 09/01/2032 | 3061 | 2919 |
| **Wisconsin Public Service Corp.**<br>3.671% due 12/01/2042 | 3 | 2 |
| **Xcel Energy, Inc.**<br>4.600% due 06/01/2032 | 78 | 77 |
|  |  | 231704 |
| Total Corporate Bonds & Notes (Cost $1,523,869) |  | 1494225 |
| **U.S. TREASURY OBLIGATIONS 9.7%** |  |  |
| **U.S. Treasury Bonds** |  |  |
| 3.375% due 08/15/2042 | 2402 | 2007 |
| 3.875% due 05/15/2043 | 1500 | 1330 |
| 4.000% due 11/15/2042 | 3186 | 2884 |
| 4.500% due 02/15/2044 | 15700 | 15020 |
| 4.625% due 02/15/2055 (h) | 20687 | 19736 |
| 4.625% due 11/15/2055 | 214 | 204 |
| **U.S. Treasury Inflation Protected Securities** **(b)** |  |  |
| 1.750% due 01/15/2034 (h)(j) | 20525 | 20446 |
| 1.875% due 07/15/2034 (h) | 1036 | 1042 |
| **U.S. Treasury Notes** |  |  |
| 3.625% due 12/31/2030 (h) | 16500 | 16277 |
| 3.875% due 08/15/2033 (j) | 1800 | 1767 |
| 4.000% due 02/15/2034 | 14200 | 14009 |
| 4.375% due 05/15/2034 (h) | 21300 | 21528 |
| 4.625% due 02/15/2035 (h)(j) | 39900 | 40945 |
| Total U.S. Treasury Obligations (Cost $158,935) |  | 157195 |
| **SOVEREIGN ISSUES 0.2%** |  |  |
| **Israel Government International Bonds**<br>4.500% due 01/13/2031 | 1800 | 1764 |
| **Peru Government International Bonds**<br>5.500% due 03/30/2036 | 800 | 798 |
| **Province of British Columbia**<br>4.750% due 06/12/2034 | 480 | 489 |
| Total Sovereign Issues (Cost $3,068) |  | 3051 |
|  | SHARES |  |
| **PREFERRED SECURITIES 0.0%** |  |  |
| **INDUSTRIALS 0.0%** |  |  |
| **SVB Financial Trust**<br>11.000% due 11/07/2032 | 1 | 1 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Preferred Securities (Cost $1) |  | 1 |
| **SHORT-TERM INSTRUMENTS 2.8%** |  |  |
| **MUTUAL FUNDS 0.1%** |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class,3.720%** **(f)** | 1079354 | 1080 |
|  |  | 1080 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **REPURCHASE AGREEMENTS (g) 2.8%** |  | 45100 |
| Total Short-Term Instruments (Cost $45,100) |  | 45100 |
| Total Investments in Securities (Cost $1,732,053) |  | 1700652 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 0.3%** |  |  |
| **SHORT-TERM INSTRUMENTS 0.4%** |  |  |
| **MUTUAL FUNDS 0.3%** |  |  |
| **PIMCO Government Money Market Fund 3.740%** **(d)(f)** | 4906112 | 4906 |
| Total Short-Term Instruments (Cost $5,986) |  | 4906 |
| Total Investments in Affiliates (Cost $4,906) |  | 4906 |
| Total Investments 105.7% (Cost $1,736,959) |  | $1705558 |
| **Financial Derivative Instruments** **(i)** **0.0**%(Cost or Premiums, net $5,424) |  | 607 |
| Other Assets and Liabilities, net (5.7)% |  | (91978) |
| Net Assets 100.0% |  | $1614187 |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (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)** | **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.** |
| **(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.** |
| **(c)** | **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.** |
| **(d)** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** | **Securities with an aggregate market value of $4,793 were out on loan in exchange for $4,906 of cash collateral as of March 31, 2026.** |
| **(e)** | **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.** |
| **(f)** | **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** |
| **(g)** | **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 | 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 | 3.680% | 04/02/2026 | $ | 20600 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | (21013) | (21013) | 20600 | 20600 | 20600 |
|  | 3.690 | 04/01/2026 |  | 11100 | &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 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | &nbsp;&nbsp; U.S. Treasury Notes 1.125% due 02/15/2031 | (11336) | (11336) | 11100 | 11100 | 11101 |
|  | 3.710 | 04/01/2026 |  | 13400 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | &nbsp;&nbsp; U.S. Treasury Notes 4.125% due 03/31/2029 | (13686) | (13686) | 13400 | 13400 | 13402 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  |  | **(46035)** | **(46035)** | **45100** | **45100** | **45103** |
| **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 | 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 |
| BOM | BOM | BOM | BOM | 3.780% | 3.780% | 03/11/2026 | 03/11/2026 | 04/06/2026 | 04/06/2026 | (6179) | (6179) | (6179) | $(6193) | (6193) |
| BRC | BRC | BRC | BRC | 3.250 | 3.250 | 03/20/2026 | 03/20/2026 | 05/01/2026 | 05/01/2026 | (1448) | (1448) | (1448) | (1450) | (1450) |
| BSN | BSN | BSN | BSN | 3.770 | 3.770 | 03/06/2026 | 03/06/2026 | 04/06/2026 | 04/06/2026 | (61567) | (61567) | (61567) | (61734) | (61734) |
| JPS | JPS | JPS | JPS | 3.760 | 3.760 | 03/10/2026 | 03/10/2026 | 04/21/2026 | 04/21/2026 | (10919) | (10919) | (10919) | (10944) | (10944) |
|  |  |  |  | 3.760 | 3.760 | 03/13/2026 | 03/13/2026 | 04/17/2026 | 04/17/2026 | (4738) | (4738) | (4738) | (4747) | (4747) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  |  | $**(85068)** | **(85068)** |
| **(h)** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $84,859 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** |
| <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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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 March 31, 2026 was $(54547) at a weighted average interest rate of 3.978%. 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** | **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 | # 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 June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | 06/2026 | 99 | 99 | 99 | $10710 | 10710 | $(150) | (150) | $14 | 14 | $ | 0 |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | 06/2026 | 69 | 69 | 69 | 7833 | 7833 | (140) | (140) | 20 | 20 |  | 0 |
| U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | 06/2026 | 135 | 135 | 135 | 15736 | 15736 | (521) | (521) | 30 | 30 |  | 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** | **(811)** | **$** | **64** | **64** | **$** | **0** |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (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:** |
| **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 | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Notional<br>Amount<sup>(3)</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>(4)</sup> | Market<br>Value<sup>(4)</sup> | Asset |  | Liability |
| Morgan Stanley | 0.303 | % | $7000 | 7000 | 38 | 38 | (25) | (25) | 13 | 13 | 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> |
|  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Index/Tranches | Maturity<br>Date |  | Notional<br>Amount<sup>(3)</sup> | Notional<br>Amount<sup>(3)</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>(4)</sup> | Market<br>Value<sup>(4)</sup> | Asset |  | Liability |
| CDX.IG-45 5-Year Index | 12/20/2030 | $ | 164900 | 164900 | 3676 | 3676 | (698) | (698) | 2978 | 2978 | 323 | $ | 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** |
|  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Asset | Asset | Liability |
| Pay | 06/20/2031 | 06/20/2031 | 101300 | 101300 | $1710 | 1710 | $72 | 72 | $1782 | 1782 | 220 | 220 | $0 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **5424** | **5424** | **(651)** | **(651)** | **4773** | **4773** | **543** | **$** | **0** |
| **(j)** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $11,575 and cash of $10,417 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| <sup>(1)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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. |
| <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. |
| <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. |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | 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 03/31/2026 | Fair Value<br>at 03/31/2026 | Fair Value<br>at 03/31/2026 |  |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | $0 | 0 | $ | 594246 | $ | 0 | $ | $594246 | 594246 |  |
| Industrials | Industrials | Industrials | Industrials | 0 | 0 |  | 668275 |  | 0 |  | 668275 | 668275 |  |
| Utilities | Utilities | Utilities | Utilities | 0 | 0 |  | 231704 |  | 0 |  | 231704 | 231704 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 |  | 157195 |  | 0 |  | 157195 | 157195 |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 |  | 3051 |  | 0 |  | 3051 | 3051 |  |
| 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 |  |
| Industrials | Industrials | Industrials | Industrials | 0 | 0 |  | 1 |  | 0 |  | 1 | 1 |  |
| 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 | 0 | 0 |  | 1080 |  | 0 |  | 1080 | 1080 |  |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 |  | 45100 |  | 0 |  | 45100 | 45100 |  |
| **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 |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 4906 | 4906 |  | 0 |  | 0 |  | 4906 | 4906 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | $4906 | 4906 | $ | 1700652 | $ | 0 | $ | $1705558 | 1705558 |  |
| **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 | $0 | 0 | $ | 607 | $ | 0 | $ | $607 | 607 |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $ | 607 | $ | 0 | $ | $607 | 607 |  |
| Totals | Totals | Totals | Totals | $4906 | 4906 | $ | 1701259 | $ | 0 | $ | $1706165 | 1706165 |  |

---

------

<br> Schedule of Investments PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

**There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.**<br>

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund March 31, 2026 (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 185.2% ¤** |  |  |
| **U.S. GOVERNMENT AGENCIES 175.6%** |  |  |
| **Federal Home Loan Mortgage Corp.** |  |  |
| 2.500% due 12/01/2032 - 09/01/2046 | $427 | $396 |
| 3.000% due 10/01/2026 - 08/01/2046 | 2437 | 2287 |
| 3.050% due 03/01/2032 | 221 | 206 |
| 3.500% due 12/01/2033 - 12/01/2048 | 402 | 377 |
| 4.000% due 07/01/2042 - 05/01/2049 | 7664 | 7328 |
| 4.400% due 06/01/2030 | 82 | 82 |
| 4.500% due 04/01/2039 - 04/01/2049 | 1233 | 1217 |
| 5.000% due 09/01/2033 - 03/01/2056 | 46920 | 46690 |
| 5.000% due 11/01/2054 - 02/01/2055 (g) | 37405 | 37124 |
| 5.500% due 11/01/2030 - 01/01/2056 | 85779 | 87295 |
| 5.500% due 03/01/2040 - 03/01/2055 (g) | 68832 | 70021 |
| 5.815% due 02/01/2035 •  | 1 | 1 |
| 5.875% due 11/01/2031 - 02/01/2035 •  | 3 | 3 |
| 5.890% due 01/01/2034 •  | 2 | 2 |
| 5.977% due 01/01/2035 •  | 3 | 3 |
| 6.000% due 08/01/2026 - 10/01/2055 | 40990 | 42423 |
| 6.000% due 09/01/2053 - 11/01/2054 (g) | 12971 | 13525 |
| 6.025% due 03/01/2035 •  | 1 | 1 |
| 6.247% due 02/01/2035 •  | 3 | 3 |
| 6.372% due 09/01/2034 •  | 49 | 51 |
| 6.403% due 10/01/2039 •  | 120 | 124 |
| 6.430% due 11/01/2036 •  | 54 | 56 |
| 6.447% due 04/01/2035 •  | 8 | 8 |
| 6.500% due 04/01/2035 •  | 4 | 4 |
| 6.500% due 05/01/2045 - 09/01/2055 | 29777 | 30947 |
| 6.515% due 06/01/2035 •  | 6 | 7 |
| 6.520% due 09/01/2035 •  | 34 | 35 |
| 6.694% due 08/01/2036 •  | 3 | 4 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates** |  |  |
| 2.937% due 07/25/2054 ~ | 3075 | 2988 |
| 4.228% due 10/25/2034 ~ | 800 | 788 |
| **Federal Home Loan Mortgage Corp. REMICS** |  |  |
| 0.000% due 08/15/2056 - 10/15/2058 (b)(d) | 815 | 521 |
| 0.608% due 11/15/2040 •  | 109 | 86 |
| 0.868% due 05/15/2041 •  | 185 | 179 |
| 1.860% due 10/15/2037 ~(a) | 5 | 0 |
| 1.919% due 10/15/2037 ~(a) | 8 | 0 |
| 1.944% due 05/15/2037 ~(a) | 7 | 0 |
| 2.000% due 11/25/2050 (a) | 369 | 49 |
| 2.024% due 03/15/2037 ~(a) | 9 | 0 |
| 2.156% due 11/15/2036 ~(a) | 25 | 1 |
| 2.179% due 05/15/2035 •  | 86 | 87 |
| 2.192% due 11/15/2038 ~(a) | 26 | 1 |
| 2.267% due 08/15/2041 ~(a) | 8 | 0 |
| 2.288% due 06/15/2038 ~(a) | 21 | 1 |
| 2.348% due 10/15/2041 ~(a) | 21 | 1 |
| 2.369% due 02/15/2038 ~(a) | 15 | 1 |
| 2.413% due 01/15/2043 •(a) | 789 | 92 |
| 2.500% due 01/15/2045 | 107 | 100 |
| 2.513% due 08/15/2036 ~(a) | 13 | 1 |
| 3.000% due 05/15/2044 | 187 | 128 |
| 4.000% due 03/15/2042 | 492 | 437 |
| 4.000% due 09/15/2045 - 04/15/2046 (a) | 654 | 93 |
| 4.037% due 05/15/2035 •  | 12 | 11 |
| 4.146% due 04/15/2038 •  | 152 | 150 |
| 4.237% due 12/15/2031 •  | 15 | 15 |
| 4.287% due 09/15/2030 - 06/15/2042 •  | 133 | 133 |
| 4.512% due 05/25/2054 •  | 845 | 848 |
| 4.532% due 12/25/2055 •  | 6334 | 6334 |
| 4.562% due 09/25/2055 - 12/25/2055 •  | 15847 | 15930 |
| 4.612% due 08/25/2055 - 09/25/2055 •  | 22800 | 22879 |
| 4.662% due 02/25/2055 - 03/25/2055 •  | 1889 | 1899 |
| 4.672% due 03/25/2055 •  | 27400 | 27261 |
| 4.762% due 07/25/2054 - 11/25/2054 •  | 7301 | 7344 |
| 4.782% due 08/25/2054 •  | 1171 | 1179 |
| 4.812% due 01/25/2055 •  | 1452 | 1464 |
| 4.862% due 10/25/2054 - 08/25/2055 •  | 25534 | 25789 |
| 4.912% due 05/25/2055 •  | 1065 | 1071 |
| 4.962% due 11/25/2054 - 03/25/2055 •  | 18690 | 18793 |
| 5.012% due 03/25/2055 •  | 3796 | 3833 |
| 5.062% due 02/25/2055 •  | 1340 | 1351 |
| 5.500% due 09/15/2035 | 139 | 136 |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.500% due 10/15/2035 (a) | 36 | 4 |
| 6.500% due 05/15/2028 - 03/15/2029 | 102 | 103 |
| 7.000% due 05/15/2037 | 313 | 335 |
| **Federal Home Loan Mortgage Corp. STRIPS** |  |  |
| 2.500% due 10/15/2052 (a) | 2947 | 446 |
| 3.500% due 01/15/2043 - 08/15/2045 (a) | 327 | 53 |
| 4.146% due 10/15/2037 •  | 39 | 39 |
| 4.812% due 05/25/2054 •  | 2589 | 2607 |
| **Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates**<br>5.059% due 02/25/2045 •  | 54 | 53 |
| **Federal Home Loan Mortgage Corp. Whole Loan Securities Trust** |  |  |
| 3.000% due 09/25/2045 - 12/25/2046 | 275 | 239 |
| 3.500% due 12/25/2046 | 212 | 187 |
| **Federal National Mortgage Association** |  |  |
| 2.500% due 06/01/2028 - 12/01/2046 | 279 | 251 |
| 3.000% due 10/01/2026 - 07/01/2060 | 3780 | 3473 |
| 3.500% due 05/01/2034 - 01/01/2057 | 14180 | 13216 |
| 3.800% due 10/01/2029 | 735 | 727 |
| 4.000% due 06/01/2033 - 07/01/2056 | 27349 | 26265 |
| 4.140% due 04/01/2028 | 155 | 155 |
| 4.160% due 10/01/2032 | 610 | 602 |
| 4.190% due 07/01/2030 | 1920 | 1920 |
| 4.280% due 02/01/2030 - 01/01/2031 | 3196 | 3202 |
| 4.300% due 12/01/2032 (g) | 17000 | 16862 |
| 4.350% due 12/01/2029 - 12/01/2032 | 3705 | 3700 |
| 4.370% due 11/01/2032 | 3229 | 3226 |
| 4.380% due 01/01/2031 | 714 | 713 |
| 4.385% due 07/01/2030 - 04/01/2033 | 2508 | 2518 |
| 4.400% due 01/01/2032 | 630 | 631 |
| 4.410% due 01/01/2033 | 2894 | 2884 |
| 4.430% due 11/01/2032 | 3000 | 2999 |
| 4.450% due 08/01/2030 | 2861 | 2883 |
| 4.490% due 04/01/2033 | 200 | 200 |
| 4.500% due 07/01/2032 - 04/01/2059 | 32544 | 32100 |
| 4.510% due 10/01/2032 - 11/01/2032 | 8113 | 8152 |
| 4.590% due 03/01/2031 | 1497 | 1512 |
| 4.620% due 11/01/2030 | 6134 | 6210 |
| 4.660% due 11/01/2030 | 2260 | 2289 |
| 4.680% due 06/01/2030 - 11/01/2030 | 9793 | 9917 |
| 4.700% due 07/01/2030 - 05/01/2035 | 4084 | 4145 |
| 4.720% due 03/01/2030 | 4707 | 4771 |
| 4.730% due 08/01/2030 | 1700 | 1710 |
| 4.740% due 04/01/2030 | 1200 | 1206 |
| 4.750% due 09/01/2030 | 2140 | 2177 |
| 4.770% due 12/01/2029 | 90 | 91 |
| 4.800% due 09/01/2032 | 4542 | 4629 |
| 4.860% due 12/01/2027 - 05/01/2035 | 3218 | 3275 |
| 4.870% due 05/01/2035 | 200 | 204 |
| 4.900% due 09/01/2030 | 2535 | 2600 |
| 4.930% due 09/01/2030 | 1545 | 1585 |
| 4.950% due 12/01/2035 | 2731 | 2768 |
| 4.960% due 09/01/2032 | 1365 | 1403 |
| 4.970% due 05/01/2035 | 4779 | 4888 |
| 4.980% due 05/01/2035 | 3900 | 4007 |
| 4.990% due 01/01/2033 | 1455 | 1495 |
| 5.000% due 09/01/2049 - 03/01/2056 | 40925 | 40756 |
| 5.040% due 08/01/2030 | 2087 | 2151 |
| 5.050% due 03/01/2030 (g) | 14677 | 15112 |
| 5.050% due 02/01/2036 •  | 83 | 84 |
| 5.110% due 11/01/2030 | 1814 | 1869 |
| 5.114% due 08/01/2042 - 10/01/2044 •  | 185 | 185 |
| 5.140% due 02/01/2035 | 3500 | 3632 |
| 5.160% due 03/01/2030 | 10377 | 10695 |
| 5.180% due 05/01/2035 | 1977 | 2056 |
| 5.200% due 11/01/2030 - 05/01/2035 | 3205 | 3338 |
| 5.210% due 05/01/2035 | 1090 | 1134 |
| 5.230% due 05/01/2033 - 05/01/2035 | 2806 | 2914 |
| 5.250% due 02/01/2031 | 624 | 647 |
| 5.265% due 08/01/2027 •  | 3 | 3 |
| 5.280% due 07/01/2030 | 937 | 971 |
| 5.441% due 03/01/2035 •  | 2 | 2 |
| 5.500% due 09/01/2034 - 12/01/2055 | 70344 | 71378 |
| 5.500% due 11/01/2039 (g) | 15975 | 16297 |
| 5.534% due 01/01/2035 •  | 6 | 7 |
| 5.590% due 12/01/2034 - 03/01/2035 •  | 2 | 2 |
| 5.598% due 02/01/2035 •  | 9 | 9 |
| 5.640% due 11/01/2035 •  | 10 | 10 |
| 5.652% due 02/01/2035 •  | 2 | 2 |
| 5.727% due 01/01/2035 •  | 11 | 12 |
| 5.740% due 01/01/2035 •  | 4 | 4 |
| 5.773% due 01/01/2035 •  | 3 | 3 |
| 5.782% due 02/01/2035 •  | 4 | 4 |
| 5.785% due 03/01/2035 •  | 1 | 1 |
| 5.795% due 12/01/2034 •  | 3 | 3 |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.810% due 06/01/2031 | 1700 | 1729 |
| 5.828% due 02/01/2035 •  | 4 | 4 |
| 5.868% due 01/01/2035 •  | 17 | 17 |
| 5.870% due 02/01/2035 •  | 4 | 4 |
| 5.915% due 02/01/2042 •  | 13 | 13 |
| 5.943% due 05/01/2035 •  | 19 | 20 |
| 6.000% due 10/01/2032 - 12/01/2055 | 59642 | 61766 |
| 6.000% due 10/01/2054 - 01/01/2056 (g) | 21312 | 21864 |
| 6.002% due 02/01/2035 •  | 2 | 2 |
| 6.010% due 10/01/2028 •  | 1 | 1 |
| 6.040% due 10/01/2035 •  | 3 | 3 |
| 6.050% due 05/01/2035 •  | 1 | 1 |
| 6.076% due 05/01/2035 •  | 18 | 19 |
| 6.081% due 11/01/2034 •  | 2 | 2 |
| 6.099% due 10/01/2035 •  | 1 | 1 |
| 6.106% due 11/01/2048 •  | 80 | 83 |
| 6.123% due 09/01/2041 •  | 19 | 20 |
| 6.155% due 11/01/2035 •  | 6 | 7 |
| 6.165% due 07/01/2035 •  | 3 | 3 |
| 6.175% due 09/01/2034 •  | 18 | 18 |
| 6.182% due 10/01/2037 •  | 175 | 182 |
| 6.228% due 01/01/2036 •  | 42 | 43 |
| 6.374% due 04/01/2033 •  | 6 | 6 |
| 6.383% due 05/01/2038 •  | 120 | 125 |
| 6.394% due 07/01/2035 •  | 12 | 12 |
| 6.487% due 09/01/2035 •  | 9 | 10 |
| 6.500% due 11/01/2028 - 09/01/2055 | 27280 | 28524 |
| 6.523% due 07/01/2035 •  | 4 | 4 |
| 6.573% due 05/01/2035 •  | 10 | 10 |
| 6.675% due 04/01/2035 •  | 11 | 11 |
| 6.880% due 10/01/2032 •  | 67 | 67 |
| 7.000% due 06/01/2035 | 1 | 1 |
| **Federal National Mortgage Association Interest STRIPS** |  |  |
| 2.000% due 04/25/2052 (a) | 10653 | 1351 |
| 5.500% due 05/25/2036 - 12/25/2040 (a) | 1823 | 343 |
| 6.000% due 01/25/2037 - 11/25/2040 (a) | 893 | 175 |
| 6.500% due 04/25/2038 (a) | 9 | 2 |
| **Federal National Mortgage Association REMICS** |  |  |
| 0.000% due 07/25/2043 •  | 328 | 214 |
| 0.200% due 02/25/2043 •(a) | 97 | 1 |
| 0.325% due 04/25/2043 - 06/25/2043 •  | 316 | 240 |
| 0.506% due 10/25/2045 •  | 73 | 48 |
| 1.824% due 06/25/2044 •(a) | 158 | 8 |
| 1.868% due 10/25/2046 ~(a) | 9 | 0 |
| 1.875% due 07/25/2044 ~(a) | 33 | 1 |
| 1.877% due 07/25/2052 ~(a) | 33 | 2 |
| 1.979% due 09/25/2045 ~(a) | 19 | 1 |
| 1.980% due 07/25/2044 ~(a) | 30 | 2 |
| 2.000% due 08/25/2042 | 482 | 416 |
| 2.067% due 07/25/2045 ~(a) | 123 | 7 |
| 2.070% due 04/25/2055 ~(a) | 55 | 3 |
| 2.072% due 03/25/2045 ~(a) | 75 | 4 |
| 2.130% due 01/25/2045 ~(a) | 21 | 1 |
| 2.173% due 08/25/2054 ~(a) | 49 | 2 |
| 2.224% due 11/25/2049 •(a) | 62 | 8 |
| 2.291% due 08/25/2044 ~(a) | 22 | 2 |
| 2.398% due 08/25/2055 ~(a) | 32 | 1 |
| 2.500% due 02/25/2051 (a) | 527 | 90 |
| 2.809% due 11/25/2035 •(a) | 213 | 16 |
| 3.000% due 07/25/2045 | 102 | 81 |
| 3.000% due 04/25/2046 (a) | 89 | 9 |
| 3.500% due 03/25/2044 - 12/25/2047 | 266 | 256 |
| 3.500% due 04/25/2046 (a) | 22 | 2 |
| 3.842% due 12/25/2036 •  | 237 | 233 |
| 3.902% due 03/25/2034 •  | 14 | 14 |
| 3.932% due 08/25/2034 •  | 1 | 1 |
| 4.000% due 03/25/2041 - 11/25/2045 | 504 | 418 |
| 4.076% due 12/25/2048 •  | 262 | 259 |
| 4.176% due 03/25/2049 •  | 168 | 166 |
| 4.226% due 07/25/2036 •  | 124 | 124 |
| 4.246% due 08/25/2050 •  | 87 | 86 |
| 4.276% due 03/25/2032 •  | 26 | 26 |
| 4.436% due 04/25/2037 •  | 165 | 161 |
| 4.500% due 11/25/2039 | 52 | 48 |
| 4.562% due 01/25/2055 •  | 1070 | 1071 |
| 4.662% due 03/25/2055 - 11/25/2055 •  | 5495 | 5513 |
| 4.672% due 03/25/2055 •  | 9000 | 8975 |
| 4.673% due 07/25/2055 •  | 9000 | 8974 |
| 4.762% due 11/25/2055 •  | 2143 | 2150 |
| 4.776% due 04/25/2032 •  | 16 | 16 |
| 4.812% due 08/25/2055 •  | 1923 | 1938 |
| 4.862% due 11/25/2055 •  | 3033 | 3062 |
| 4.912% due 05/25/2054 - 10/25/2055 •  | 10336 | 10397 |
| 4.922% due 09/25/2054 •  | 5629 | 5663 |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.012% due 01/25/2055 •  | 930 | 937 |
| 5.062% due 08/25/2054 - 02/25/2055 •  | 35588 | 35822 |
| 5.112% due 06/25/2054 •  | 704 | 710 |
| 5.162% due 01/25/2055 •  | 687 | 694 |
| 6.125% due 05/25/2035 ~ | 16 | 16 |
| 6.500% due 01/25/2032 | 8 | 8 |
| 8.000% due 07/25/2034 | 134 | 143 |
| **Federal National Mortgage Association REMICS Trust** |  |  |
| 3.896% due 06/25/2033 •  | 6 | 6 |
| 3.906% due 06/25/2032 •  | 22 | 22 |
| 3.946% due 11/25/2032 •  | 5 | 5 |
| **Federal National Mortgage Association-ACES** |  |  |
| 2.243% due 01/25/2031 ~(a) | 1693 | 77 |
| 2.944% due 07/25/2039 | 89 | 82 |
| **Government National Mortgage Association** |  |  |
| 2.000% due 03/20/2043 | 55 | 47 |
| 3.000% due 02/15/2043 - 03/15/2050 | 3152 | 2866 |
| 3.000% due 03/20/2052 (g) | 19710 | 17621 |
| 3.500% due 02/15/2042 - 02/20/2056 | 16322 | 15026 |
| 4.000% due 03/15/2045 - 10/20/2050 | 9535 | 9044 |
| 4.070% due 01/15/2050 | 1083 | 974 |
| 4.500% due 07/15/2039 - 07/20/2052 | 3505 | 3407 |
| 5.000% due 11/20/2034 - 12/20/2048 | 642 | 650 |
| 5.500% due 09/15/2033 - 12/15/2039 | 53 | 54 |
| 6.000% due 05/20/2042 - 01/20/2056 | 13190 | 13388 |
| 6.500% due 02/15/2027 - 04/20/2055 | 216 | 226 |
| **Government National Mortgage Association REMICS** |  |  |
| 0.000% due 12/20/2036 (b)(d) | 72 | 60 |
| 0.508% due 09/20/2045 •  | 138 | 90 |
| 1.202% due 11/20/2045 ~(a) | 48 | 2 |
| 1.207% due 09/20/2045 ~(a) | 58 | 2 |
| 1.236% due 12/20/2045 ~(a) | 43 | 2 |
| 1.277% due 06/20/2043 ~(a) | 41 | 2 |
| 1.307% due 08/20/2045 •  | 85 | 74 |
| 1.489% due 06/20/2042 ~(a) | 42 | 2 |
| 1.539% due 06/20/2042 ~(a) | 39 | 2 |
| 3.000% due 05/20/2047 - 11/20/2067 | 373 | 306 |
| 3.500% due 08/20/2042 - 05/20/2049 (a) | 511 | 59 |
| 3.973% due 11/20/2067 •  | 172 | 172 |
| 4.000% due 06/20/2045 (a) | 265 | 47 |
| 4.083% due 05/20/2068 •  | 318 | 317 |
| 4.133% due 02/20/2068 - 04/20/2070 •  | 106 | 105 |
| 4.203% due 06/20/2070 •  | 241 | 239 |
| 4.213% due 05/20/2065 •  | 2 | 2 |
| 4.247% due 04/20/2065 •  | 224 | 223 |
| 4.263% due 03/20/2061 •  | 3 | 3 |
| 4.298% due 10/20/2062 •  | 76 | 76 |
| 4.323% due 02/20/2074 •  | 528 | 528 |
| 4.343% due 04/20/2072 •  | 974 | 974 |
| 4.373% due 08/20/2075 •  | 9788 | 9787 |
| 4.383% due 05/20/2069 •  | 324 | 325 |
| 4.391% due 01/20/2068 •  | 933 | 937 |
| 4.403% due 02/20/2073 •  | 7243 | 7259 |
| 4.423% due 01/20/2065 - 01/20/2076 •  | 14622 | 14744 |
| 4.433% due 09/20/2069 •  | 208 | 208 |
| 4.463% due 11/20/2065 - 04/20/2074 •  | 566 | 571 |
| 4.473% due 08/20/2072 - 08/20/2074 •  | 1085 | 1096 |
| 4.491% due 12/20/2068 •  | 72 | 73 |
| 4.500% due 06/20/2043 | 90 | 86 |
| 4.503% due 09/20/2063 - 01/20/2069 •  | 100 | 100 |
| 4.513% due 04/20/2075 •  | 1643 | 1655 |
| 4.533% due 09/20/2065 •  | 271 | 272 |
| 4.543% due 02/20/2073 •  | 476 | 482 |
| 4.573% due 08/20/2054 - 07/20/2074 •  | 2533 | 2554 |
| 4.583% due 01/20/2066 - 09/20/2066 •  | 88 | 88 |
| 4.603% due 01/20/2074 •  | 889 | 903 |
| 4.653% due 09/20/2073 •  | 451 | 458 |
| 4.673% due 12/20/2073 •  | 1418 | 1436 |
| 4.683% due 01/20/2066 •  | 14 | 14 |
| 4.693% due 12/20/2072 •  | 395 | 402 |
| 4.712% due 10/20/2067 •  | 692 | 697 |
| 4.723% due 08/20/2053 •  | 363 | 364 |
| 4.783% due 04/20/2063 - 03/20/2066 •  | 586 | 590 |
| 4.823% due 12/20/2070 •  | 212 | 215 |
| 4.833% due 07/20/2070 - 08/20/2070 •  | 2405 | 2438 |
| 4.861% due 06/20/2068 •  | 166 | 167 |
| 4.927% due 08/20/2068 •  | 236 | 238 |
| 4.933% due 03/20/2066 •  | 29 | 29 |
| 5.023% due 07/20/2055 •  | 18686 | 18835 |
| 5.033% due 10/20/2070 •  | 582 | 595 |
| 5.083% due 09/20/2063 •  | 17 | 17 |
| 5.093% due 02/20/2073 •  | 1015 | 1040 |
| 5.500% due 08/20/2035 | 34 | 34 |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Government National Mortgage Association, TBA** |  |  |
| 2.000% due 05/01/2056 | 34800 | 28739 |
| 2.500% due 05/01/2056 | 48100 | 41362 |
| 3.000% due 04/01/2056 | 500 | 446 |
| 3.500% due 03/01/2056 - 06/01/2056 | 77000 | 70595 |
| 4.000% due 05/01/2056 | 30500 | 28556 |
| 4.500% due 06/01/2040 - 04/01/2056 | 15500 | 14973 |
| 5.000% due 06/01/2040 - 05/01/2056 | 36400 | 35959 |
| 5.500% due 06/01/2040 - 05/01/2056 | 15700 | 15760 |
| 6.000% due 05/01/2056 | 8100 | 8228 |
| 6.500% due 05/01/2056 | 28000 | 29019 |
| **Uniform Mortgage-Backed Security, TBA** |  |  |
| 2.000% due 04/01/2041 - 05/01/2056 | 51435 | 42009 |
| 2.500% due 04/01/2041 - 05/01/2056 | 36300 | 30625 |
| 3.000% due 06/01/2040 - 05/01/2056 | 129100 | 114493 |
| 3.500% due 04/01/2041 - 06/01/2056 | 19150 | 17585 |
| 4.000% due 04/01/2041 - 06/01/2056 | 39800 | 37562 |
| 4.500% due 04/01/2041 - 05/01/2056 | 76500 | 73936 |
| 5.000% due 04/01/2041 - 05/01/2056 | 129500 | 127719 |
| 5.500% due 04/01/2056 - 05/01/2056 | 22000 | 22094 |
| 6.000% due 05/01/2056 - 07/01/2056 | 103100 | 104929 |
| 6.500% due 05/01/2056 | 19500 | 20158 |
| Total U.S. Government Agencies (Cost $2,051,822) |  | 2052823 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 1.4%** |  |  |
| **Angel Oak Mortgage Trust**<br>5.985% due 01/25/2069 þ | 336 | 337 |
| **Banc of America Funding Trust** |  |  |
| 4.370% due 05/20/2035 •  | 17 | 16 |
| 4.751% due 01/20/2047 ~ | 74 | 65 |
| **Bank of America Mortgage Trust**<br>5.750% due 07/20/2032 ~ | 1 | 1 |
| **Chase Mortgage Finance Corp.**<br>4.862% due 01/25/2057 ~ | 1972 | 1973 |
| **Chevy Chase Funding LLC Mortgage-Backed Certificates**<br>4.073% due 01/25/2035 •  | 2 | 2 |
| **CHL Mortgage Pass-Through Trust** |  |  |
| 3.598% due 04/25/2035 ~ | 199 | 133 |
| 4.373% due 04/25/2035 •  | 7 | 6 |
| 4.493% due 02/25/2036 •  | 1 | 0 |
| 4.713% due 09/25/2034 •  | 29 | 26 |
| 5.678% due 06/19/2031 ~ | 10 | 10 |
| **Citigroup Mortgage Loan Trust, Inc.** |  |  |
| 4.593% due 08/25/2035 •  | 40 | 39 |
| 6.500% due 06/25/2054 ~ | 114 | 116 |
| **COMM Mortgage Trust**<br>5.087% due 12/15/2038 •  | 1439 | 1426 |
| **Countrywide Alternative Loan Trust** |  |  |
| 4.190% due 07/20/2046 •  | 26 | 23 |
| 4.213% due 05/25/2035 •  | 106 | 103 |
| 4.293% due 09/25/2046 •  | 406 | 343 |
| 4.293% due 10/25/2046 •  | 30 | 28 |
| 4.473% due 10/25/2046 •  | 231 | 201 |
| **CSMC Trust**<br>2.500% due 07/25/2056 ~ | 132 | 110 |
| **GreenPoint Mortgage Funding Trust** |  |  |
| 4.193% due 10/25/2046 •  | 103 | 97 |
| 4.193% due 12/25/2046 •  | 136 | 138 |
| 4.333% due 04/25/2036 •  | 36 | 33 |
| 4.473% due 10/25/2046 •  | 339 | 275 |
| **GS Mortgage Securities Corp. Trust**<br>4.870% due 07/15/2031 •  | 1100 | 852 |
| **GSR Mortgage Loan Trust**<br>4.313% due 08/25/2046 •  | 173 | 37 |
| **HarborView Mortgage Loan Trust**<br>4.271% due 03/19/2036 •  | 17 | 16 |
| **IMS Ecuadorian Mortgage Trust**<br>3.400% due 08/18/2043 | 465 | 454 |
| **IndyMac INDX Mortgage Loan Trust** |  |  |
| 4.193% due 06/25/2046 •  | 41 | 37 |
| 4.193% due 11/25/2046 •  | 97 | 94 |
| **JP Morgan Mortgage Trust** |  |  |
| 3.000% due 04/25/2052 ~ | 666 | 579 |
| 4.317% due 08/25/2051 •  | 1752 | 1624 |
| 4.693% due 11/25/2049 •  | 36 | 35 |
| **La Hipotecaria El Salvadorian Mortgage Trust** |  |  |
| 3.358% due 01/15/2046 « | 342 | 317 |
| 4.250% due 09/29/2046 « | 638 | 585 |
| **La Hipotecaria Panamanian Mortgage Trust**<br>3.508% due 11/24/2042 «•  | 379 | 367 |
| **MASTR Alternative Loan Trust**<br>4.193% due 03/25/2036 •  | 951 | 77 |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Mellon Residential Funding Corp. Mortgage Pass-Through Certificates**<br>4.487% due 11/15/2031 •  | 7 | 7 |
| **MFA Trust**<br>1.381% due 04/25/2065 ~ | 60 | 59 |
| **New Residential Mortgage Loan Trust** |  |  |
| 2.750% due 11/25/2059 ~ | 277 | 266 |
| 4.617% due 09/25/2051 •  | 694 | 653 |
| **OBX Trust** |  |  |
| 3.000% due 01/25/2052 ~ | 311 | 269 |
| 5.610% due 11/25/2064 ~ | 2669 | 2684 |
| **RALI Trust** |  |  |
| 4.039% due 08/25/2035 ~ | 146 | 50 |
| 4.193% due 12/25/2046 •  | 79 | 74 |
| 4.253% due 05/25/2037 •  | 15 | 14 |
| 4.333% due 05/25/2046 •  | 56 | 42 |
| **Sequoia Mortgage Trust** |  |  |
| 4.491% due 10/19/2026 •  | 7 | 7 |
| 5.172% due 04/25/2056 •  | 600 | 601 |
| **Structured Asset Mortgage Investments Trust**<br>4.451% due 09/19/2032 •  | 2 | 2 |
| **Thornburg Mortgage Securities Trust**<br>5.139% due 10/25/2046 •  | 25 | 24 |
| **Towd Point Mortgage Trust**<br>4.793% due 05/25/2058 •  | 89 | 90 |
| **WaMu Mortgage Pass-Through Certificates Trust** |  |  |
| 4.793% due 07/25/2044 •  | 25 | 24 |
| 4.843% due 12/25/2045 •  | 242 | 217 |
| **Washington Mutual Mortgage Pass-Through Certificates Trust**<br>4.579% due 12/25/2046 •  | 93 | 78 |
| Total Non-Agency Mortgage-Backed Securities (Cost $16,800) |  | 15736 |
| **ASSET-BACKED SECURITIES 3.4%** |  |  |
| **CMBS OTHER 0.1%** |  |  |
| **Arbor Realty Commercial Real Estate Notes Ltd.**<br>5.137% due 11/15/2036 •  | 427 | 428 |
| **HOME EQUITY OTHER 0.1%** |  |  |
| **Amortizing Residential Collateral Trust**<br>4.493% due 10/25/2031 •  | 2 | 2 |
| **Centex Home Equity Loan Trust**<br>4.093% due 01/25/2032 •  | 3 | 3 |
| **Citigroup Mortgage Loan Trust, Inc.**<br>4.113% due 12/25/2036 •  | 505 | 284 |
| **Countrywide Asset-Backed Certificates**<br>4.293% due 03/25/2037 •  | 29 | 28 |
| **Countrywide Asset-Backed Certificates Trust**<br>4.073% due 04/25/2047 •  | 58 | 57 |
| **EMC Mortgage Loan Trust**<br>5.293% due 08/25/2040 •  | 27 | 28 |
| **GSAA Home Equity Trust**<br>4.393% due 03/25/2037 •  | 164 | 65 |
| **GSAMP Trust**<br>4.053% due 12/25/2046 •  | 364 | 192 |
| **Home Equity Asset Trust**<br>4.393% due 11/25/2032 •  | 3 | 3 |
| **HSI Asset Securitization Corp. Trust**<br>4.073% due 01/25/2037 •  | 249 | 191 |
| **Morgan Stanley ABS Capital I, Inc. Trust**<br>3.863% due 10/25/2036 •  | 369 | 193 |
| **Saxon Asset Securities Trust**<br>5.543% due 12/25/2037 •  | 146 | 132 |
|  |  | 1178 |
| **HOME EQUITY SEQUENTIAL 0.0%** |  |  |
| **Morgan Stanley Mortgage Loan Trust**<br>4.513% due 04/25/2037 •  | 468 | 123 |
| **OTHER ABS 3.2%** |  |  |
| **Apex Credit CLO Ltd.**<br>5.468% due 04/20/2036 •  | 500 | 501 |
| **ARES LXV CLO Ltd.**<br>4.788% due 07/25/2034 •  | 1700 | 1700 |
| **Bain Capital Credit CLO Ltd.**<br>4.830% due 07/17/2035 •  | 2000 | 2000 |
| **Benefit Street Partners CLO XXII Ltd.**<br>4.818% due 04/20/2035 •  | 2100 | 2101 |
| **Birch Grove CLO Ltd.**<br>5.258% due 07/17/2037 •  | 4700 | 4712 |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Canyon CLO Ltd.**<br>4.772% due 10/15/2034 •  | 1400 | 1400 |
| **Cedar Funding VI CLO Ltd.**<br>4.758% due 04/20/2034 •  | 2200 | 2202 |
| **Diameter Capital CLO 6 Ltd.**<br>5.282% due 04/15/2037 •  | 500 | 502 |
| **Fortress Credit BSL X Ltd.**<br>4.768% due 04/20/2033 •  | 853 | 854 |
| **Golub Capital Partners CLO 50B-R Ltd.**<br>4.778% due 04/20/2035 •  | 2100 | 2101 |
| **KKR CLO 42 Ltd.**<br>4.818% due 07/20/2034 •  | 2800 | 2803 |
| **Marble Point CLO XXII Ltd.**<br>4.888% due 07/25/2034 •  | 2700 | 2699 |
| **Symphony CLO XXIV Ltd.**<br>4.801% due 10/23/2035 •  | 1500 | 1498 |
| **Symphony CLO XXIX Ltd.**<br>4.822% due 10/15/2035 •  | 2200 | 2197 |
| **Symphony CLO XXXII Ltd.**<br>4.821% due 10/23/2035 | 2800 | 2800 |
| **Trinitas CLO VI Ltd.**<br>4.778% due 01/25/2034 •  | 2400 | 2402 |
| **Vibrant CLO XII Ltd.**<br>4.818% due 04/20/2034 •  | 2300 | 2303 |
| **Wind River CLO Ltd.**<br>4.778% due 07/20/2034 •  | 2700 | 2702 |
|  |  | 37477 |
| Total Asset-Backed Securities (Cost $39,651) |  | 39206 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 4.8%** |  |  |
| **MUTUAL FUNDS 0.1%** |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720%(e) | 1210074 | 1210 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **REPURCHASE AGREEMENTS (f) 3.8%** |  | 45000 |
| **U.S. TREASURY BILLS 0.9%** |  |  |
| 3.710% due 04/07/2026 - 07/21/2026 (c)(d)(j) | 10821 | 10725 |
| Total Short-Term Instruments (Cost $56,935) |  | 56935 |
| Total Investments in Securities (Cost $2,165,208) |  | 2164700 |
| Total Investments 185.2% (Cost $2,165,208) |  | $2164700 |
| **Financial Derivative Instruments** **(h)(i)** **1.3**%(Cost or Premiums, net $17,948) |  | 15264 |
| Other Assets and Liabilities, net (86.5)% |  | (1010838) |
| Net Assets 100.0% |  | $1169126 |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (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).** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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)** | **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.** |
| **(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.** |
| **(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.** |
| **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** |
| **(f)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Maturity<br>Date | &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> |
| SAL | 04/01/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 04/28/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 04/28/2026 | &nbsp;&nbsp; U.S. Treasury Bills 0.000% due 04/28/2026 | (45920) | (45920) | 45000 | 45000 | $45005 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  | **(45920)** | **(45920)** | **45000** | **45000** | $**45005** |
| **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> | 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 |
| SAL | SAL | 3.780% | 04/13/2026 | 04/13/2026 | (98563) | (98563) | (98563) | (98770) | (98770) |
| WFS | WFS | 3.780 | 04/13/2026 | 04/13/2026 | (70127) | (70127) | (70127) | (70274) | (70274) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  | **(169044)** | **(169044)** |
| **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Proceeds | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (17.7)% | U.S. Government Agencies (17.7)% | U.S. Government Agencies (17.7)% | U.S. Government Agencies (17.7)% | U.S. Government Agencies (17.7)% | U.S. Government Agencies (17.7)% | U.S. Government Agencies (17.7)% | U.S. Government Agencies (17.7)% | U.S. Government Agencies (17.7)% | U.S. Government Agencies (17.7)% |
| &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 | 3.000% | 04/01/2056 | 2000 | $ | (1779) | (1779) | $(1786) |
| &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 | 05/01/2056 | 2000 |  | (1777) | (1777) | (1784) |
| &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 | 3.000 | 04/01/2056 | 8000 |  | (7133) | (7133) | (7028) |
| &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 | 04/01/2056 | 11000 |  | (10360) | (10360) | (10381) |
| &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 | 05/01/2056 | 11800 |  | (11249) | (11249) | (11127) |
| &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 | 04/01/2056 | 8800 |  | (8634) | (8634) | (8494) |
| &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 | 06/01/2056 | 12700 |  | (12212) | (12212) | (12238) |
| &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 | 5.000 | 06/11/2056 | 15000 |  | (14755) | (14755) | (14764) |
| &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 | 05/01/2041 | 30500 |  | (31014) | (31014) | (31071) |
| &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 | 04/01/2056 | 100 |  | (101) | (101) | (101) |
| &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 | 05/01/2056 | 87700 |  | (88409) | (88409) | (87991) |
| &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 | 06/11/2056 | 8000 |  | (8021) | (8021) | (8018) |
| &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 | 06/11/2056 | 12000 |  | (12398) | (12398) | (12404) |
| **Total Short Sales (17.7)%** | **Total Short Sales (17.7)%** | **Total Short Sales (17.7)%** |  |  |  | **$** | **(207842)** | **(207842)** | $**(207187)** |
| **(g)** | **Securities with an aggregate market value of $175,352 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $175,352 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $175,352 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $175,352 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $175,352 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $175,352 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $175,352 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $175,352 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $175,352 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** |
| <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 March 31, 2026 was $(100081) at a weighted average interest rate of 3.992%. 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 March 31, 2026 was $(100081) at a weighted average interest rate of 3.992%. 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 March 31, 2026 was $(100081) at a weighted average interest rate of 3.992%. 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 March 31, 2026 was $(100081) at a weighted average interest rate of 3.992%. 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 March 31, 2026 was $(100081) at a weighted average interest rate of 3.992%. 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 March 31, 2026 was $(100081) at a weighted average interest rate of 3.992%. 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 March 31, 2026 was $(100081) at a weighted average interest rate of 3.992%. 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 March 31, 2026 was $(100081) at a weighted average interest rate of 3.992%. 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 March 31, 2026 was $(100081) at a weighted average interest rate of 3.992%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| **(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** |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (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:** | **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> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Description | Description | Description | 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) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | 06/2026 | 9 | 9 | $ | 974 | 974 | (13) | (13) | (13) | 1 | 1 | 1 | 0 |
| U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | 06/2026 | 30 | 30 |  | 3331 | 3331 | (68) | (68) | (68) | 7 | 7 | 7 | 0 |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | 06/2026 | 102 | 102 |  | 11579 | 11579 | (265) | (265) | (265) | 31 | 31 | 31 | 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** | **(346)** | **(346)** | **$** | **39** | **39** | **$** | **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:** | **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** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <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 | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) | 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 | 3.750% | Annual | Annual | 12/18/2029 | $ | $2300 | 2300 | (27) | (27) | 13 | $(14) | (14) | (14) | $0 | 0 | $(2) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | Annual | 03/19/2030 |  | 20900 | 20900 | 938 | 938 | (483) | 455 | 455 | 455 | 0 | 0 | (20) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 12/18/2031 |  | 5500 | 5500 | (183) | (183) | 158 | (25) | (25) | (25) | 0 | 0 | (7) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | Annual | 03/19/2032 |  | 8600 | 8600 | 426 | 426 | (230) | 196 | 196 | 196 | 0 | 0 | (10) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 09/17/2032 |  | 14800 | 14800 | (366) | (366) | 338 | (28) | (28) | (28) | 0 | 0 | (18) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.410 | Annual | Annual | 10/16/2032 |  | 5000 | 5000 | (27) | (27) | 121 | 94 | 94 | 94 | 0 | 0 | (6) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 12/17/2032 |  | 18200 | 18200 | (410) | (410) | 370 | (40) | (40) | (40) | 0 | 0 | (23) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 03/18/2033 |  | 4200 | 4200 | (74) | (74) | 68 | (6) | (6) | (6) | 0 | 0 | (5) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 12/18/2034 |  | 2300 | 2300 | (52) | (52) | 63 | 11 | 11 | 11 | 0 | 0 | (3) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | Annual | 03/19/2035 |  | 12600 | 12600 | 940 | 940 | (386) | 554 | 554 | 554 | 0 | 0 | (13) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | Annual | 06/18/2035 |  | 15800 | 15800 | 430 | 430 | 397 | 827 | 827 | 827 | 0 | 0 | (15) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 09/17/2035 |  | 21900 | 21900 | (193) | (193) | 388 | 195 | 195 | 195 | 0 | 0 | (21) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 12/17/2035 |  | 4800 | 4800 | (34) | (34) | 78 | 44 | 44 | 44 | 0 | 0 | (4) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | Annual | 03/18/2036 |  | 7600 | 7600 | (216) | (216) | 136 | (80) | (80) | (80) | 0 | 0 | (7) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 06/17/2036 |  | 2400 | 2400 | 21 | 21 | 5 | 26 | 26 | 26 | 4 | 4 | 0 |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | Annual | 06/17/2036 |  | 3400 | 3400 | 41 | 41 | (2) | 39 | 39 | 39 | 0 | 0 | (3) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **1214** | **$** | **$** | **2248** | **2248** | **$** | **4** | **4** | **(157)** |
| **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $7,579 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| <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. |
| **(i)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **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:** |
| **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 | Floating Rate<br>Index | Floating Rate<br>Index | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Notional<br>Amount<sup>(1)</sup> |  | Cost | Cost |  | Market<br>Value |
| BOA | 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 | 3-Month USD-SOFR | Pay | 3.480% | 3.480% | 07/14/2026 | 22300 | 22300 | $ | 181 | 181 | $ | 140 |
|  |  |  | 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 | 3-Month USD-SOFR | Receive | 4.095 | 4.095 | 04/06/2026 | 1400 | 1400 |  | 4 | 4 |  | 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 | 3-Month USD-SOFR | Receive | 4.750 | 4.750 | 06/11/2026 | 37300 | 37300 |  | 17 | 17 |  | 22 |
|  |  |  | 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 | 3-Month USD-SOFR | Receive | 4.750 | 4.750 | 06/30/2026 | 10000 | 10000 |  | 20 | 20 |  | 9 |
|  |  |  | 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 | 3-Month USD-SOFR | Receive | 4.750 | 4.750 | 09/04/2026 | 26500 | 26500 |  | 21 | 21 |  | 63 |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.265 | 05/01/2035 | 1400 | 124 | 99 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.265 | 05/01/2035 | 1400 | 124 | 127 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.470 | 06/04/2035 | 1400 | 126 | 108 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.470 | 06/04/2035 | 1400 | 126 | 120 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.400 | 06/25/2035 | 6000 | 536 | 451 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.400 | 06/25/2035 | 3000 | 271 | 264 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.640 | 07/23/2035 | 6000 | 540 | 498 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.640 | 07/23/2035 | 3000 | 270 | 246 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.427 | 08/06/2035 | 2800 | 246 | 213 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.427 | 08/06/2035 | 2800 | 246 | 244 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.623 | 08/20/2035 | 50500 | 4383 | 4123 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.693 | 08/27/2035 | 2200 | 190 | 184 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.693 | 08/27/2035 | 2200 | 190 | 176 |
| BPS | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 3.947 | 04/06/2026 | 16500 | 24 | 23 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.123 | 06/04/2026 | 1700 | 10 | 9 |
| BRC | Call - OTC 7-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 3.224 | 05/18/2026 | 8000 | 33 | 10 |
|  | Put - OTC 7-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 3.900 | 05/29/2026 | 2600 | 18 | 14 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.055 | 04/07/2026 | 6000 | 15 | 3 |
| DUB | Call - OTC 7-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 3.135 | 09/14/2026 | 5800 | 75 | 24 |
|  | Put - OTC 7-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 3.635 | 09/14/2026 | 5800 | 75 | 110 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.308 | 05/02/2035 | 2900 | 258 | 209 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.308 | 05/02/2035 | 2900 | 258 | 260 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.630 | 05/22/2035 | 1600 | 146 | 132 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.630 | 05/22/2035 | 1600 | 146 | 132 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.520 | 05/29/2035 | 1600 | 144 | 126 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.520 | 05/29/2035 | 1600 | 144 | 135 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.440 | 06/18/2035 | 2200 | 197 | 168 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.440 | 06/18/2035 | 2200 | 197 | 191 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.559 | 07/09/2035 | 5600 | 497 | 448 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.559 | 07/09/2035 | 2800 | 249 | 234 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.460 | 08/06/2035 | 4200 | 369 | 323 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.460 | 08/06/2035 | 4200 | 369 | 362 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.628 | 08/20/2035 | 55000 | 4764 | 4494 |
| GLM | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.075 | 04/06/2026 | 100 | 0 | 0 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.310 | 04/24/2035 | 1500 | 133 | 108 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.310 | 04/24/2035 | 1500 | 133 | 134 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.430 | 05/16/2035 | 1500 | 134 | 114 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.430 | 05/16/2035 | 1500 | 134 | 130 |
| JPM | Call - OTC 7-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 2.750 | 05/05/2026 | 2500 | 1 | 0 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.219 | 06/04/2026 | 1000 | 5 | 4 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.285 | 05/07/2035 | 1600 | 144 | 115 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.285 | 05/07/2035 | 1600 | 144 | 145 |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.693 | 4.693 | 08/27/2035 | 2800 | 241 | 235 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.693 | 4.693 | 08/27/2035 | 2800 | 241 | 224 |
| MYC | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.750 | 4.750 | 12/07/2026 | 12800 | 34 | 60 |
|  | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.485 | 4.485 | 08/07/2035 | 2600 | 229 | 202 |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 4.485 | 4.485 | 08/07/2035 | 2600 | 229 | 223 |
|  |  |  |  |  |  |  |  | $17405 | $16188 |
| **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 4.500% due 05/01/2056 | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 05/01/2056 | $96.590 | 96.590 | 05/06/2026 | 05/06/2026 | $4500 | $6 | $38 |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 05/01/2056 | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 05/01/2056 | 99.098 | 99.098 | 05/06/2026 | 05/06/2026 | 6500 | 2 | 5 |
| JPM | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 95.469 | 95.469 | 06/04/2026 | 06/04/2026 | 1500 | 6 | 10 |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 98.469 | 98.469 | 06/04/2026 | 06/04/2026 | 1500 | 6 | 3 |
| SAL | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 05/01/2056 | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 05/01/2056 | 99.094 | 99.094 | 05/06/2026 | 05/06/2026 | 1000 | 0 | 1 |
|  |  |  |  |  |  |  |  | $20 | $57 |
| **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | $**17425** | $**16245** |
| **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** |
| Counterparty | Description | Floating Rate<br>Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC 7-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 3.780% | 3.780% | 07/14/2026 | 23800 | $(181) | $(261) |
| BPS | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 3.967 | 3.967 | 05/06/2026 | 2250 | (3) | (13) |
| BRC | Put - OTC 7-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 3.724 | 3.724 | 05/18/2026 | 10900 | (33) | (94) |
|  | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.088 | 4.088 | 05/06/2026 | 500 | (1) | (2) |
| DUB | Put - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Pay | 4.084 | 4.084 | 05/06/2026 | 1600 | (1) | (5) |
| MYC | Call - OTC 10-Year Interest Rate Swap | 3-Month USD-SOFR | Receive | 3.450 | 3.450 | 06/05/2026 | 6800 | (34) | (17) |
|  |  |  |  |  |  |  |  | $(253) | $(392) |
| **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> | Premiums<br>(Received) | Market<br>Value |
| BOA | Call - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | $102.258 | 102.258 | 05/06/2026 | 05/06/2026 | 17000 | $(25) | $(5) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | 102.313 | 102.313 | 05/06/2026 | 05/06/2026 | 10000 | (18) | (2) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | 102.313 | 102.313 | 05/06/2026 | 05/06/2026 | 10000 | (19) | (54) |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | Put - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.094 | 94.094 | 04/06/2026 | 04/06/2026 | 6000 | (25) | (14) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.273 | 94.273 | 04/06/2026 | 04/06/2026 | 3500 | (9) | (11) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.641 | 94.641 | 04/06/2026 | 04/06/2026 | 7000 | (13) | (12) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 94.375 | 94.375 | 06/04/2026 | 06/04/2026 | 3000 | (20) | (11) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 95.207 | 95.207 | 06/04/2026 | 06/04/2026 | 5500 | (26) | (31) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 96.969 | 96.969 | 06/04/2026 | 06/04/2026 | 2000 | (15) | (13) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 97.375 | 97.375 | 06/04/2026 | 06/04/2026 | 3000 | (17) | (15) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 98.207 | 98.207 | 06/04/2026 | 06/04/2026 | 5500 | (23) | (15) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 04/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 04/01/2056 | 99.891 | 99.891 | 04/06/2026 | 04/06/2026 | 3500 | (6) | 0 |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 100.031 | 100.031 | 06/04/2026 | 06/04/2026 | 3500 | (6) | (4) |

---

------

<br> Schedule of Investments PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund(Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 06/01/2056 | 101.375 | 101.375 | 06/04/2026 |  | 13000 | 13000 | (38) | (38) | (24) |
|  |  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 06/01/2056 | 102.172 | 102.172 | 06/04/2026 |  | 15000 | 15000 | (27) | (27) | (81) |
|  |  | Call - OTC Uniform Mortgage-Backed Security, TBA 6.500% due 05/01/2056 | 103.688 | 103.688 | 05/06/2026 |  | 17000 | 17000 | (17) | (17) | (1) |
| MSC | MSC | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.234 | 94.234 | 04/06/2026 |  | 3500 | 3500 | (9) | (9) | (12) |
|  |  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.625 | 94.625 | 04/06/2026 |  | 8000 | 8000 | (14) | (14) | (14) |
|  |  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 97.281 | 97.281 | 06/04/2026 |  | 3000 | 3000 | (8) | (8) | (10) |
|  |  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 100.000 | 100.000 | 06/04/2026 |  | 7000 | 7000 | (11) | (11) | (9) |
|  |  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 100.281 | 100.281 | 06/04/2026 |  | 3000 | 3000 | (7) | (7) | (3) |
|  |  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 04/01/2056 | 102.328 | 102.328 | 04/06/2026 |  | 16000 | 16000 | (29) | (29) | (66) |
| SAL | SAL | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.313 | 94.313 | 04/06/2026 |  | 3500 | 3500 | (9) | (9) | (10) |
|  |  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.813 | 94.813 | 04/06/2026 |  | 6500 | 6500 | (16) | (16) | (8) |
|  |  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 04/01/2056 | 96.859 | 96.859 | 04/06/2026 |  | 1500 | 1500 | (4) | (4) | 0 |
|  |  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 96.102 | 96.102 | 06/04/2026 |  | 1000 | 1000 | (5) | (5) | (2) |
|  |  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 06/01/2056 | 101.977 | 101.977 | 06/04/2026 |  | 11500 | 11500 | (22) | (22) | (48) |
|  |  |  |  |  |  |  |  |  | $(438) | (438) | $(475) |
| **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** | $**(691)** | **(691)** | $**(867)** |
| **(j)** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $771 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** |
| <sup>(1)</sup> | Notional Amount represents the number of contracts. | 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** |
| **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | 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 03/31/2026 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | U.S. Government Agencies | $0 | 0 | $2052823 | 2052823 | $0 | 0 | $2052823 | 2052823 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 0 | 14467 | 14467 | 1269 | 1269 | 15736 | 15736 |
| 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 | 0 | 0 | 428 | 428 | 0 | 0 | 428 | 428 |
| Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | 0 | 0 | 1178 | 1178 | 0 | 0 | 1178 | 1178 |
| Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | 0 | 0 | 123 | 123 | 0 | 0 | 123 | 123 |
| Other ABS | Other ABS | Other ABS | Other ABS | 0 | 0 | 37477 | 37477 | 0 | 0 | 37477 | 37477 |
| 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 | 0 | 0 | 1210 | 1210 | 0 | 0 | 1210 | 1210 |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 | 45000 | 45000 | 0 | 0 | 45000 | 45000 |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 10725 | 10725 | 0 | 0 | 10725 | 10725 |
| Total Investments | Total Investments | Total Investments | Total Investments | $0 | 0 | $2163431 | 2163431 | $1269 | 1269 | $2164700 | 2164700 |
| **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 | U.S. Government Agencies | $0 | 0 | $(207187) | (207187) | $0 | 0 | $(207187) | (207187) |
| **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 | 0 | 0 | 43 | 43 | 0 | 0 | 43 | 43 |
| Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 16245 | 16245 | 0 | 0 | 16245 | 16245 |
|  |  |  |  | $0 | 0 | $16288 | 16288 | $0 | 0 | $16288 | 16288 |
| **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 | 0 | 0 | (157) | (157) | 0 | 0 | (157) | (157) |
| Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | (867) | (867) | 0 | 0 | (867) | (867) |
|  |  |  |  | $0 | 0 | $(1024) | (1024) | $0 | 0 | $(1024) | (1024) |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $15264 | 15264 | $0 | 0 | $15264 | 15264 |
| Totals | Totals | Totals | Totals | $0 | 0 | $1971508 | 1971508 | $1269 | 1269 | $1972777 | 1972777 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund March 31, 2026 (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 147.6% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 2.7%** |  |  |
| **Alfa-Bank CJSC**<br>5.860% (EUR003M + 2.100%) due 10/21/2026 «~(i) | $431 | $431 |
| **Aligned Data Centers International LP**<br>7.223% due 12/18/2029 «~ | 22500 | 22646 |
| **Alkermes, Inc.**<br>6.418% (TSFR1M + 2.750%) due 08/12/2031 ~ | 2400 | 2421 |
| **Altice France SA** |  |  |
| 6.391% (EUR003M + 4.375%) due 04/30/2028 ~ | 2959 | 3407 |
| 6.391% (EUR003M + 4.375%) due 10/30/2028 ~ | 1973 | 2270 |
| 7.797% (TSFR3M + 4.125%) due 04/30/2028 ~ | $1590 | 1584 |
| 8.735% (TSFR3M + 5.063%) due 10/30/2028 ~ | 1018 | 1015 |
| 10.547% (TSFR3M + 6.875%) due 05/31/2031 ~ | 3186 | 3199 |
| **American Axle & Manufacturing, Inc.**<br>6.912% (TSFR3M + 3.250%) due 02/03/2033 ~ | 6336 | 6320 |
| **Aspire Bakeries Holdings LLC**<br>6.668% (TSFR1M + 3.000%) due 12/23/2030 «~ | 2970 | 2977 |
| **Bank of Industry Ltd.**<br>3.724% (EUR003M + 1.700%) due 08/23/2027 ~ | 4500 | 5189 |
| **Citco Funding LLC**<br>5.667% (TSFR3M + 2.000%) due 01/30/2033 ~ | $1397 | 1393 |
| **Clover Holdings 2 LLC** |  |  |
| TBD% - 3.500% due 12/10/2029 ~µ | 116 | 107 |
| 7.676% (TSFR1M + 4.000%) due 12/09/2031 ~ | 893 | 858 |
| **Clydesdale Acquisition Holdings, Inc.**<br>6.918% (TSFR1M + 3.250%) due 04/01/2032 ~ | 1979 | 1854 |
| **Columbus McKinnon Corp.**<br>7.200% (TSFR3M + 3.500%) due 02/03/2033 ~ | 7427 | 7409 |
| **Cotiviti Corp.** |  |  |
| 6.418% (TSFR1M + 2.750%) due 05/01/2031 ~ | 980 | 905 |
| 6.418% (TSFR1M + 2.750%) due 03/26/2032 ~ | 4963 | 4580 |
| **CPPIB OVM Member U.S. LLC**<br>5.950% (TSFR3M + 2.250%) due 08/20/2031 ~ | 1970 | 1972 |
| **Cyberswift U.S. Finco LLC**<br>7.646% (TSFR3M + 4.000%) due 10/08/2032 ~ | 1200 | 1185 |
| **Databricks, Inc.** |  |  |
| 1.000% due 01/05/2032 ~µ | 20987 | 20882 |
| 8.171% (TSFR1M + 4.500%) due 01/05/2032 ~ | 4913 | 4888 |
| **Ecopetrol SA**<br>TBD% due 12/18/2027 « | 10000 | 9900 |
| **Finastra USA, Inc.**<br>7.671% (TSFR3M + 4.000%) due 09/15/2032 ~ | 10150 | 9556 |
| **FinCo I LLC**<br>5.418% (TSFR1M + 1.750%) due 06/27/2029 ~ | 98 | 95 |
| **Froneri Lux Finco SARL**<br>5.877% (TSFR6M + 2.250%) due 09/30/2032 ~ | 1000 | 983 |
| **GFL Environmental, Inc.**<br>6.166% (TSFR3M + 2.500%) due 03/03/2032 ~ | 4975 | 4981 |
| **Global Medical Response, Inc.**<br>7.170% (TSFR3M + 3.500%) due 10/01/2032 ~ | 2085 | 2081 |
| **Golden State Food LLC**<br>7.200% (TSFR3M + 3.500%) due 12/04/2031 ~ | 2963 | 2970 |
| **ION Platform Finance U.S., Inc.**<br>7.450% (TSFR3M + 3.750%) due 10/07/2032 ~ | 7100 | 5745 |
| **Jane Street Group LLC**<br>5.673% (TSFR3M + 2.000%) due 12/15/2031 ~ | 19456 | 19125 |
| **Kaseya, Inc.**<br>6.918% (TSFR1M + 3.250%) due 03/22/2032 ~ | 3970 | 3719 |
| **LifePoint Health, Inc.** |  |  |
| 7.152% (TSFR3M + 3.500%) due 05/19/2031 ~ | 788 | 788 |
| 7.422% (TSFR3M + 3.750%) due 05/19/2031 ~ | 4938 | 4945 |
| **Medline Borrower LP**<br>5.418% (TSFR1M + 1.750%) due 10/23/2030 ~ | 985 | 987 |
| **MH Sub I LLC**<br>7.918% (TSFR1M + 4.250%) due 12/31/2031 ~ | 2963 | 1989 |
| **Modena Buyer LLC**<br>7.917% (TSFR3M + 4.250%) due 07/01/2031 ~ | 1481 | 1335 |
| **Newfold Digital Holdings Group, Inc.** |  |  |
| 7.269% - 9.442% (TSFR1M + 3.500%) due 04/30/2029 ~ | 2291 | 1513 |
| 7.269% - 9.442% (TSFR3M + 5.750%) due 04/30/2029 «~ | 232 | 176 |
| **Nscale AS**<br>TBD% - 8.700% (TSFR3M + 5.000%) due 08/11/2032 «~µ | 20000 | 20000 |
| **OCS Group Holdings Ltd.**<br>8.980% due 11/28/2031 ~ | 1500 | 1978 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Olympus Water U.S. Holding Corp.**<br>6.950% (TSFR3M + 3.250%) due 11/03/2032 ~ | $800 | 773 |
| **Panama Government International Bonds** |  |  |
| 3.886% (EUR006M + 1.750%) due 03/05/2027 «~ | 10000 | 11571 |
| 4.546% (EUR006M + 2.450%) due 04/01/2027 «~ | 7600 | 8854 |
| **Paradigm Parent LLC**<br>8.200% (TSFR3M + 4.500%) due 04/16/2032 ~ | $3284 | 2725 |
| **Petco Health & Wellness Co., Inc.**<br>7.950% (TSFR3M + 4.250%) due 02/03/2031 ~ | 4550 | 4457 |
| **Polaris Newco LLC**<br>7.928% (TSFR3M + 4.000%) due 06/02/2028 ~ | 9279 | 8192 |
| **Project Flash** |  |  |
| 0.563% - 5.933% (TSFR3M + 2.250%) due 04/30/2030 «~µ | 5494 | 5494 |
| 0.563% - 5.933% (TSFR1M + 2.250%) due 04/30/2030 «~µ | 2745 | 2745 |
| **Proofpoint, Inc.**<br>6.700% (TSFR3M + 3.000%) due 08/31/2028 ~ | 3950 | 3830 |
| **Qnity Electronics, Inc.**<br>5.668% (TSFR1M + 2.000%) due 11/01/2032 ~ | 898 | 898 |
| **QualityTech LP**<br>7.173% (TSFR1M + 3.500%) due 10/30/2031 «~ | 3960 | 3955 |
| **QuidelOrtho Corp.**<br>7.668% (TSFR1M + 4.000%) due 08/20/2032 ~ | 11945 | 11945 |
| **Raven Acquisition Holdings LLC** |  |  |
| 3.000% due 11/19/2031 ~µ | 133 | 131 |
| 6.668% (TSFR1M + 3.000%) due 11/19/2031 ~ | 1848 | 1815 |
| **Republic of Kenya Government International Bonds**<br>9.186% (JY0003M + 5.400%) due 04/05/2028 «~ | 4167 | 4130 |
| **Rockpoint Gas Storage Partners LP**<br>6.200% (TSFR3M + 2.500%) due 09/18/2031 ~ | 4836 | 4855 |
| **Specialty Building Products Holdings LLC**<br>7.518% (TSFR1M + 3.750%) due 10/16/2028 ~ | 2658 | 2278 |
| **Stepstone Group Midco 2 GmbH**<br>8.199% (TSFR6M + 4.500%) due 12/19/2031 ~ | 3970 | 3494 |
| **Subcalidora 2**<br>7.877% (EUR003M + 5.750%) due 08/14/2029 «~ | 2000 | 2260 |
| **TK Elevator Midco GmbH**<br>6.377% (TSFR6M + 2.750%) due 04/30/2030 ~ | $4957 | 4973 |
| **TransDigm, Inc.** |  |  |
| 5.918% (TSFR1M + 2.250%) due 03/22/2030 ~ | 499 | 499 |
| 6.168% (TSFR1M + 2.500%) due 01/19/2032 ~ | 4877 | 4882 |
| 6.168% (TSFR1M + 2.500%) due 08/19/2032 ~ | 4180 | 4185 |
| 6.168% (TSFR1M + 2.500%) due 02/13/2033 ~ | 7100 | 7112 |
| **Transnet SOC Ltd.**<br>10.658% due 03/02/2028 «~ | 105143 | 6133 |
| **Trident TPI Holdings, Inc.**<br>7.450% (TSFR3M + 3.750%) due 09/15/2028 ~ | $9651 | 9164 |
| **Truist Insurance Holdings LLC**<br>6.450% (TSFR3M + 2.750%) due 05/06/2031 ~ | 460 | 454 |
| **U.S. Renal Care, Inc.** |  |  |
| 1.500% - 9.675% (TSFR1M + 6.000%) due 09/25/2030 «~ | 3263 | 3323 |
| 8.782% (TSFR1M + 5.000%) due 06/28/2028 ~ | 2954 | 2790 |
| **UKG, Inc.**<br>6.167% (TSFR3M + 2.500%) due 02/10/2031 ~ | 887 | 848 |
| **Varsity Brands, Inc.**<br>6.450% (TSFR3M + 2.750%) due 08/26/2031 ~ | 1895 | 1890 |
| **VEON Amsterdam BV**<br>7.902% (TSFR3M + 4.250%) due 03/25/2027 «~ | 4000 | 3978 |
| **Versant Media Group, Inc.**<br>7.200% (TSFR3M + 3.500%) due 01/30/2031 ~ | 1500 | 1501 |
| **Virgin Media Bristol LLC**<br>7.052% (TSFR6M + 3.175%) due 03/31/2031 ~ | 4600 | 4211 |
| **Virgin Media Investment Holdings Ltd.**<br>6.978% due 08/01/2030 «~ | 1600 | 2033 |
| **VistaJet Malta Finance PLC**<br>7.406% - 7.411% (TSFR3M + 3.750%) due 04/01/2031 ~ | $4950 | 4908 |
| Total Loan Participations and Assignments (Cost $340,494) |  | 337644 |
| **CORPORATE BONDS & NOTES 30.2%** |  |  |
| **BANKING & FINANCE 10.2%** |  |  |
| **123 Lights Re Ltd.**<br>14.510% (FHMMUSTF + 11.000%) due 09/14/2031 ~ | 250 | 258 |
| **Aircastle Ltd./Aircastle Ireland DAC**<br>5.000% due 09/15/2030 | 13543 | 13517 |
| **Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer**<br>6.500% due 10/01/2031 | 2800 | 2753 |
| **American Tower Corp.** |  |  |
| 2.750% due 01/15/2027 | 575 | 568 |
| 3.650% due 03/15/2027 | 200 | 199 |
| 3.800% due 08/15/2029 | 2680 | 2616 |
| **Antares Holdings LP**<br>6.500% due 02/08/2029 | 250 | 250 |
| **ARES Strategic Income Fund** |  |  |
| 4.850% due 01/15/2029 | 5000 | 4843 |
| 5.150% due 01/15/2031 | 5000 | 4726 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.450% due 09/09/2028 | 8249 | 8167 |
| 6.200% due 03/21/2032 | 5864 | 5751 |
| **Armor RE II Ltd.**<br>12.060% (BRMMUSDF + 8.500%) due 01/07/2032 ~ | 700 | 742 |
| **Asurion LLC/Asurion Co-Issuer, Inc.** |  |  |
| 8.000% due 12/31/2032 | 7700 | 7995 |
| 8.375% due 02/01/2034 | 8000 | 7773 |
| **Avilease Capital Ltd.**<br>4.750% due 11/12/2030 | 10000 | 9741 |
| **Avolon Holdings Funding Ltd.** |  |  |
| 4.700% due 01/30/2031 | 10782 | 10571 |
| 4.900% due 10/10/2030 | 13449 | 13362 |
| 4.950% due 10/15/2032 | 33558 | 32698 |
| **Azule Energy Finance PLC**<br>8.250% due 01/22/2031 | 5400 | 5459 |
| **Banco Internacional del Peru SAA Interbank**<br>4.800% due 07/15/2031 | 8500 | 8378 |
| **Banco Santander SA**<br>6.033% due 01/17/2035 | 5502 | 5754 |
| **Bank of America Corp.** |  |  |
| 2.592% due 04/29/2031 •  | 5085 | 4699 |
| 4.948% due 07/22/2028 •  | 3600 | 3624 |
| 5.511% due 01/24/2036 •  | 9138 | 9322 |
| 5.819% due 09/15/2029 •  | 600 | 619 |
| 5.872% due 09/15/2034 •  | 600 | 628 |
| **Barclays PLC** |  |  |
| 4.219% due 05/24/2030 •  | 3200 | 3152 |
| 4.521% due 02/24/2032 •  | 3700 | 3621 |
| 5.690% due 03/12/2030 •  | 1125 | 1156 |
| 6.692% due 09/13/2034 •  | 1984 | 2148 |
| **Black Pearl Compute LLC**<br>6.125% due 02/15/2031 | 4600 | 4688 |
| **BPCE SA** |  |  |
| 4.760% due 01/13/2032 •  | 1290 | 1273 |
| 5.389% due 05/28/2031 •  | 6812 | 6907 |
| 6.027% due 05/28/2036 •  | 20026 | 20488 |
| 6.612% due 10/19/2027 •  | 250 | 253 |
| **Bread Financial Holdings, Inc.**<br>8.375% due 06/15/2035 •  | 4000 | 4047 |
| **Broadstone Net Lease LLC**<br>2.600% due 09/15/2031 | 2211 | 1943 |
| **Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC**<br>4.500% due 04/01/2027 | 160 | 157 |
| **Brown & Brown, Inc.**<br>4.900% due 06/23/2030 | 10784 | 10777 |
| **Burford Capital Global Finance LLC** |  |  |
| 7.500% due 07/15/2033 | 19845 | 16547 |
| 9.250% due 07/01/2031 | 9577 | 8655 |
| **CaixaBank SA**<br>5.673% due 03/15/2030 •  | 1392 | 1431 |
| **Cantor Fitzgerald LP**<br>7.200% due 12/12/2028 | 850 | 883 |
| **Capital One Financial Corp.** |  |  |
| 4.722% due 01/30/2032 •  | 800 | 788 |
| 6.700% due 11/29/2032 | 1577 | 1714 |
| **CFE Fibra E**<br>5.875% due 09/23/2040 | 789 | 768 |
| **CI Financial Corp.** |  |  |
| 4.625% due 12/12/2031 | 5200 | 6020 |
| 7.500% due 05/30/2029 | $3598 | 3778 |
| **CIMA Finance DAC**<br>2.950% due 09/05/2029 | 3166 | 2962 |
| **Citadel Finance LLC**<br>5.900% due 02/10/2030 | 16655 | 16744 |
| **Citadel LP** |  |  |
| 6.000% due 01/23/2030 | 9418 | 9707 |
| 6.375% due 01/23/2032 | 11491 | 11917 |
| **Citadel Securities Global Holdings LLC** |  |  |
| 5.125% due 01/27/2032 | 1600 | 1588 |
| 5.500% due 06/18/2030 | 7561 | 7685 |
| 5.750% due 03/27/2036 | 9600 | 9478 |
| **Constellation Global Funding**<br>4.850% due 10/22/2030 | 14195 | 13930 |
| **COPT Defense Properties LP**<br>4.500% due 10/15/2030 | 600 | 593 |
| **CoStar Group, Inc.**<br>2.800% due 07/15/2030 | 7390 | 6686 |
| **Credicorp Capital Sociedad Titulizadora SA** |  |  |
| 9.700% due 03/05/2045 | 52100 | 15930 |
| 10.100% due 12/15/2043 | 8500 | 2650 |
| **Credit Opportunities Partners LLC**<br>6.520% due 03/20/2028 «(i) | $8000 | 7934 |
| **Crown Castle, Inc.**<br>1.050% due 07/15/2026 | 475 | 470 |
| **Deloitte LLP** |  |  |
| 5.250% due 01/30/2030 «(i) | 2000 | 2009 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.410% due 01/30/2032 «(i) | 2000 | 2006 |
| 5.590% due 01/30/2035 «(i) | 2000 | 1992 |
| **EF Holdco/EF Cayman Holdings/Ellington Financial REIT Cayman/TRS/EF Cayman Non-MTM**<br>7.375% due 09/30/2030 | 3276 | 3159 |
| **Encore Capital Group, Inc.** |  |  |
| 6.625% due 04/15/2031 | 7060 | 7031 |
| 8.500% due 05/15/2030 | 14164 | 14985 |
| 9.250% due 04/01/2029 | 3984 | 4173 |
| **EPR Properties**<br>3.750% due 08/15/2029 | 23098 | 22138 |
| **Equinix Europe 2 Financing Corp. LLC**<br>4.600% due 11/15/2030 | 17102 | 16950 |
| **Equinix, Inc.**<br>3.900% due 04/15/2032 | 3492 | 3298 |
| **Equitable Holdings, Inc.**<br>4.350% due 04/20/2028 | 20 | 20 |
| **Essential Properties LP**<br>5.400% due 12/01/2035 | 21164 | 20845 |
| **Everglades Re II Ltd.**<br>15.041% (GSMMUSTI + 11.500%) due 05/13/2031 ~ | 400 | 406 |
| **F&G Global Funding**<br>5.875% due 01/16/2030 | 10946 | 11097 |
| **Ford Motor Credit Co. LLC** |  |  |
| 2.900% due 02/16/2028 | 700 | 672 |
| 4.970% due 04/06/2029 | 15100 | 14919 |
| 5.800% due 03/05/2027 | 1525 | 1534 |
| 5.875% due 11/07/2029 | 8000 | 8103 |
| 5.918% due 03/20/2028 | 15900 | 16108 |
| 6.798% due 11/07/2028 | 800 | 828 |
| **Fortitude Group Holdings LLC**<br>6.250% due 04/01/2030 | 9525 | 9705 |
| **Freedom Mortgage Corp.**<br>6.625% due 01/15/2027 | 1560 | 1559 |
| **Freedom Mortgage Holdings LLC** |  |  |
| 6.875% due 05/01/2031 | 6000 | 5615 |
| 9.125% due 05/15/2031 | 2632 | 2679 |
| **FS KKR Capital Corp.** |  |  |
| 3.125% due 10/12/2028 | 13561 | 12388 |
| 6.125% due 01/15/2031 | 5000 | 4695 |
| **FTAI Aviation Investors LLC** |  |  |
| 5.500% due 05/01/2028 | 1430 | 1431 |
| 7.000% due 05/01/2031 | 3873 | 3973 |
| **Gateway Re Ltd.**<br>5.560% (BRMMUSDF + 2.000%) due 07/06/2029 ~ | 1350 | 1350 |
| **Genpact U.K. Finco PLC/Genpact USA, Inc.**<br>4.950% due 11/18/2030 | 5680 | 5566 |
| **GLP Capital LP/GLP Financing II, Inc.** |  |  |
| 4.000% due 01/15/2030 | 6316 | 6066 |
| 4.000% due 01/15/2031 | 5625 | 5336 |
| 5.250% due 02/15/2033 | 1430 | 1403 |
| 5.300% due 01/15/2029 | 5811 | 5879 |
| 5.625% due 09/15/2034 | 3077 | 3032 |
| 5.625% due 03/01/2036 | 4700 | 4576 |
| 5.750% due 11/01/2037 | 2230 | 2160 |
| 6.750% due 12/01/2033 | 2200 | 2319 |
| **Golden Bear Re Ltd.**<br>13.412% (JMMMUSTF + 9.750%) due 01/08/2029 ~ | 1250 | 1273 |
| **Goldman Sachs Group, Inc.** |  |  |
| 3.814% due 04/23/2029 •  | 6600 | 6512 |
| 4.148% due 01/21/2029 •  | 11000 | 10935 |
| 5.218% due 04/23/2031 •  | 12200 | 12409 |
| **Greengrove RE Ltd.**<br>11.290% (BNMMDTSC + 7.750%) due 04/08/2032 ~ | 2000 | 2073 |
| **GSG Bidco Ltd.**<br>4.700% due 06/15/2031 | 5800 | 6650 |
| **HA Sustainable Infrastructure Capital, Inc.** |  |  |
| 6.000% due 03/15/2036 | $200 | 194 |
| 6.150% due 01/15/2031 | 2700 | 2751 |
| 6.375% due 07/01/2034 | 1700 | 1712 |
| **Handshake Re Ltd.**<br>8.060% (JMMMUSTF + 4.500%) due 01/08/2030 ~ | 250 | 249 |
| **Hardwood Funding LLC**<br>4.840% due 06/07/2028 «(i) | 6000 | 6007 |
| **HAT Holdings I LLC/HAT Holdings II LLC**<br>3.375% due 06/15/2026 | 513 | 511 |
| **Host Hotels & Resorts LP**<br>3.500% due 09/15/2030 | 3018 | 2838 |
| **HPS Corporate Lending Fund**<br>5.450% due 01/14/2028 | 12250 | 12164 |
| **ICBC Standard Bank PLC**<br>20.000% due 12/13/2029 « | 120106000 | 9849 |
| **Industrial Subordinated Trust 2 0**<br>6.550% due 04/15/2036 •  | $3400 | 3404 |
| **Integrity RE III Ltd.**<br>6.010% (FHMMUSTF + 2.500%) due 06/07/2029 ~ | 1000 | 1000 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **ION Platform Finance U.S., Inc.**<br>7.875% due 09/30/2032 | 14827 | 11495 |
| **ION Platform Finance U.S., Inc./ION Platform Finance SARL** |  |  |
| 5.000% due 05/01/2028 | 5000 | 4675 |
| 9.000% due 08/01/2029 | 10512 | 9757 |
| **Jane Street Group/JSG Finance, Inc.** |  |  |
| 6.125% due 11/01/2032 | 7231 | 7157 |
| 6.750% due 05/01/2033 | 8697 | 8830 |
| 7.125% due 04/30/2031 | 2135 | 2196 |
| **JPMorgan Chase & Co.** |  |  |
| 2.182% due 06/01/2028 •  | 21315 | 20782 |
| 5.294% due 07/22/2035 •  | 8098 | 8201 |
| 5.350% due 06/01/2034 •  | 7436 | 7590 |
| 5.502% due 01/24/2036 •  | 24740 | 25331 |
| 5.766% due 04/22/2035 •  | 2820 | 2938 |
| 6.254% due 10/23/2034 •  | 3154 | 3392 |
| **Kona Spc Ltd.**<br>5.718% due 09/15/2026 «•  | 1600 | 1862 |
| **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.** |  |  |
| 5.500% due 08/01/2030 | $4564 | 4576 |
| 7.000% due 07/15/2031 | 2330 | 2410 |
| **Lazard Group LLC**<br>6.000% due 03/15/2031 | 14492 | 15061 |
| **Lineage OP LP**<br>5.250% due 07/15/2030 | 10124 | 10105 |
| **Lseg U.S. Fin Corp.**<br>4.250% due 03/23/2029 | 4100 | 4071 |
| **Marex Group PLC**<br>5.829% due 05/08/2028 | 15031 | 15196 |
| **Mitsubishi UFJ Financial Group, Inc.** |  |  |
| 5.406% due 04/19/2034 •  | 465 | 476 |
| 5.472% due 09/13/2033 •  | 2400 | 2468 |
| 5.574% due 01/16/2036 •  | 3289 | 3367 |
| **Morgan Stanley** |  |  |
| 3.622% due 04/01/2031 •  | 10280 | 9860 |
| 3.772% due 01/24/2029 •  | 2625 | 2591 |
| 3.955% due 03/21/2035 •  | 1000 | 1145 |
| 6.407% due 11/01/2029 •  | $500 | 522 |
| **National Health Investors, Inc.**<br>5.350% due 02/01/2033 | 28195 | 27760 |
| **Nature Coast Re Ltd.** |  |  |
| 11.661% (T-BILL 3MO + 8.000%) due 02/26/2030 ~ | 800 | 798 |
| 13.291% (GSMMUSTI + 9.750%) due 04/10/2033 ~ | 2200 | 2277 |
| **Newmark Group, Inc.**<br>7.500% due 01/12/2029 | 15803 | 16577 |
| **Nissan Motor Acceptance Co. LLC** |  |  |
| 2.450% due 09/15/2028 | 1140 | 1043 |
| 5.625% due 09/29/2028 | 3400 | 3339 |
| 5.698% (SOFRINDX + 2.050%) due 09/13/2027 ~ | 2150 | 2133 |
| **Norinchukin Bank** |  |  |
| 5.094% due 10/16/2029 | 16873 | 17066 |
| 5.359% due 09/09/2035 | 10320 | 10274 |
| **OneMain Finance Corp.** |  |  |
| 3.500% due 01/15/2027 | 3074 | 3018 |
| 4.000% due 09/15/2030 | 6560 | 5929 |
| 6.125% due 05/15/2030 | 9960 | 9746 |
| 6.500% due 03/15/2033 | 1830 | 1751 |
| 6.625% due 01/15/2028 | 8000 | 8060 |
| 6.625% due 05/15/2029 | 7630 | 7647 |
| 6.750% due 09/15/2033 | 11110 | 10667 |
| 7.125% due 11/15/2031 | 5140 | 5097 |
| 7.500% due 05/15/2031 | 4450 | 4477 |
| **Palm RE Ltd.**<br>11.290% (BNMMDTSC + 7.750%) due 06/07/2032 ~ | 900 | 928 |
| **Panama Infrastructure Receivable Purchaser PLC**<br>0.000% due 04/05/2032 (d) | 2850 | 2232 |
| **Pebblebrook Hotel LP/PEB Finance Corp.**<br>6.375% due 10/15/2029 | 5150 | 5164 |
| **PennyMac Financial Services, Inc.** |  |  |
| 5.750% due 09/15/2031 | 857 | 794 |
| 7.875% due 12/15/2029 | 350 | 358 |
| **Purple Re Ltd.**<br>6.060% (JMMMUSTF + 2.500%) due 06/07/2033 ~ | 900 | 900 |
| **Rfna LP**<br>7.875% due 02/15/2030 | 4850 | 4639 |
| **Sammons Financial Group Global Funding**<br>5.100% due 12/10/2029 | 2000 | 2022 |
| **Sammons Financial Group, Inc.**<br>6.875% due 04/15/2034 | 39688 | 42083 |
| **Santander Holdings USA, Inc.** |  |  |
| 5.473% due 03/20/2029 •  | 7395 | 7500 |
| 6.174% due 01/09/2030 •  | 636 | 657 |
| **Santander U.K. Group Holdings PLC** |  |  |
| 3.823% due 11/03/2028 •  | 800 | 790 |
| 4.320% due 09/22/2029 •  | 1600 | 1585 |
| 5.136% due 09/22/2036 •  | 1200 | 1159 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.694% due 04/15/2031 •  | 5580 | 5741 |
| 6.534% due 01/10/2029 •  | 700 | 722 |
| **SBA Communications Corp.**<br>3.875% due 02/15/2027 | 14500 | 14361 |
| **Selective Insurance Group, Inc.**<br>5.900% due 04/15/2035 | 23512 | 24242 |
| **Service Properties Trust**<br>0.000% due 09/30/2028 (d) | 5200 | 4737 |
| **Sixth Street Lending Partners** |  |  |
| 5.750% due 01/15/2030 | 19877 | 19589 |
| 6.125% due 07/15/2030 | 18378 | 18282 |
| **SLM Corp.** |  |  |
| 3.125% due 11/02/2026 | 2400 | 2379 |
| 6.500% due 01/31/2030 | 10715 | 10526 |
| **Starwood Property Trust, Inc.** |  |  |
| 5.250% due 10/15/2028 | 500 | 495 |
| 5.750% due 01/15/2031 | 11900 | 11766 |
| 6.500% due 07/01/2030 | 3000 | 3065 |
| **Stellantis Financial Services U.S. Corp.**<br>4.950% due 09/15/2028 | 700 | 696 |
| **Store Capital LLC**<br>4.950% due 02/11/2031 | 2000 | 1984 |
| **Takeoff Merger Sub, Inc.** |  |  |
| 4.500% due 03/24/2029 | 5300 | 5267 |
| 4.850% due 03/24/2031 | 8000 | 7903 |
| **Thames Ssnm Unfunded Comm**<br>9.750% due 10/10/2027 | 361 | 459 |
| **UBS Group AG**<br>5.699% due 02/08/2035 •  | $1540 | 1579 |
| **UniCredit SpA**<br>7.296% due 04/02/2034 •  | 300 | 316 |
| **VB DPR Finance Co.**<br>6.833% due 03/15/2035 «(i) | 4200 | 4246 |
| **VFH Parent LLC/Valor Co-Issuer, Inc.**<br>7.500% due 06/15/2031 | 4449 | 4574 |
| **VICI Properties LP** |  |  |
| 4.950% due 02/15/2030 | 7225 | 7216 |
| 5.125% due 11/15/2031 | 18681 | 18555 |
| 5.750% due 04/01/2034 | 9055 | 9142 |
| **Vornado Realty LP**<br>5.750% due 02/01/2033 | 7827 | 7680 |
| **Wells Fargo & Co.** |  |  |
| 5.244% due 01/24/2031 •  | 3900 | 3977 |
| 5.389% due 04/24/2034 •  | 3083 | 3130 |
| 6.491% due 10/23/2034 •  | 3713 | 4021 |
| **Weyerhaeuser Co.**<br>7.375% due 03/15/2032 | 1000 | 1115 |
| **Winston RE Ltd.**<br>10.040% (BNMMDTSC + 6.500%) due 02/21/2028 ~ | 300 | 307 |
|  |  | 1279613 |
| **INDUSTRIALS 17.5%** |  |  |
| **1011778 BC ULC/New Red Finance, Inc.** |  |  |
| 3.500% due 02/15/2029 | 6197 | 5920 |
| 3.875% due 01/15/2028 | 1459 | 1427 |
| 4.000% due 10/15/2030 | 34667 | 32603 |
| **Advance Auto Parts, Inc.** |  |  |
| 7.000% due 08/01/2030 | 14588 | 14788 |
| 7.375% due 08/01/2033 | 3445 | 3492 |
| **AEP Transmission Co. LLC**<br>5.150% due 04/01/2034 | 1000 | 1008 |
| **Air Canada Pass-Through Trust** |  |  |
| 3.300% due 07/15/2031 | 1642 | 1573 |
| 3.600% due 09/15/2028 | 1320 | 1303 |
| **Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC**<br>5.500% due 03/31/2031 | 500 | 495 |
| **Albion Financing 1 SARL/Aggreko Holdings, Inc.**<br>7.000% due 05/21/2030 | 24969 | 25538 |
| **Allwyn Entertainment Financing U.K. PLC**<br>4.625% due 08/15/2031 | 7800 | 8686 |
| **Altice France SA**<br>9.500% due 11/01/2029 | $13814 | 13969 |
| **American Airlines Pass-Through Trust** |  |  |
| 3.200% due 12/15/2029 | 988 | 964 |
| 3.600% due 03/22/2029 | 601 | 595 |
| 3.650% due 02/15/2029 | 981 | 955 |
| **ams-OSRAM AG** |  |  |
| 10.500% due 03/30/2029 | 1300 | 1579 |
| 12.250% due 03/30/2029 | $2450 | 2608 |
| **Anglo American Capital PLC**<br>4.625% due 03/19/2031 | 12400 | 12265 |
| **AppLovin Corp.** |  |  |
| 5.125% due 12/01/2029 | 3207 | 3226 |
| 5.375% due 12/01/2031 | 2952 | 2982 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Ashtead Capital, Inc.**<br>5.800% due 04/15/2034 | 31622 | 32251 |
| **Aston Martin Capital Holdings Ltd.**<br>10.000% due 03/31/2029 | 250 | 188 |
| **Axon Enterprise, Inc.**<br>6.125% due 03/15/2030 | 16385 | 16697 |
| **Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.** |  |  |
| 3.226% due 03/11/2030 | 700 | 802 |
| 3.812% due 03/11/2034 | 1000 | 1143 |
| **Bausch & Lomb Corp.**<br>8.375% due 10/01/2028 | $250 | 258 |
| **Beacon Mobility Corp.**<br>7.250% due 08/01/2030 | 17532 | 18124 |
| **Becton Dickinson & Co.**<br>1.957% due 02/11/2031 | 1453 | 1282 |
| **Beignet Investor LLC**<br>6.581% due 05/30/2049 | 77800 | 80051 |
| **Block, Inc.** |  |  |
| 5.625% due 08/15/2030 | 14100 | 14030 |
| 6.000% due 08/15/2033 | 9942 | 9788 |
| 6.500% due 05/15/2032 | 37414 | 37779 |
| **Boeing Co.** |  |  |
| 3.250% due 02/01/2028 | 3000 | 2942 |
| 3.625% due 02/01/2031 | 10814 | 10289 |
| 5.150% due 05/01/2030 | 3532 | 3592 |
| 6.388% due 05/01/2031 | 2280 | 2432 |
| 6.528% due 05/01/2034 | 11663 | 12710 |
| 6.858% due 05/01/2054 | 2420 | 2666 |
| **British Airways Pass-Through Trust**<br>3.300% due 06/15/2034 | 577 | 547 |
| **Broadcom Corp./Broadcom Cayman Finance Ltd.**<br>3.500% due 01/15/2028 | 100 | 99 |
| **Broadcom, Inc.** |  |  |
| 3.187% due 11/15/2036 | 11924 | 9970 |
| 4.926% due 05/15/2037 | 8978 | 8714 |
| **Builders FirstSource, Inc.** |  |  |
| 4.250% due 02/01/2032 | 6593 | 6078 |
| 5.000% due 03/01/2030 | 4258 | 4150 |
| **Carnival Corp.** |  |  |
| 4.000% due 08/01/2028 | 16846 | 16457 |
| 5.125% due 05/01/2029 | 18074 | 17951 |
| **Carvana Co.**<br>9.000% due 06/01/2030 | 4540 | 4726 |
| **CCO Holdings LLC/CCO Holdings Capital Corp.** |  |  |
| 4.500% due 05/01/2032 | 4350 | 3890 |
| 7.000% due 02/01/2033 (k) | 4580 | 4597 |
| **CDW LLC/CDW Finance Corp.** |  |  |
| 3.569% due 12/01/2031 | 21328 | 19504 |
| 5.100% due 03/01/2030 | 15465 | 15446 |
| 5.550% due 08/22/2034 | 10474 | 10298 |
| **Centene Corp.** |  |  |
| 2.450% due 07/15/2028 | 1330 | 1239 |
| 2.500% due 03/01/2031 | 22249 | 18683 |
| 3.000% due 10/15/2030 | 20983 | 18401 |
| **Cerdia Finanz GmbH**<br>9.375% due 10/03/2031 | 8847 | 8807 |
| **CGI, Inc.**<br>1.450% due 09/14/2026 | 400 | 394 |
| **Charter Communications Operating LLC/Charter Communications Operating Capital** |  |  |
| 2.250% due 01/15/2029 | 1500 | 1402 |
| 2.800% due 04/01/2031 | 600 | 539 |
| 3.850% due 04/01/2061 | 15546 | 9087 |
| 3.950% due 06/30/2062 | 1850 | 1088 |
| **Cheniere Energy Partners LP**<br>3.250% due 01/31/2032 | 250 | 228 |
| **Chord Energy Corp.** |  |  |
| 6.000% due 10/01/2030 | 16915 | 17149 |
| 6.750% due 03/15/2033 | 13927 | 14388 |
| **Clydesdale Acquisition Holdings, Inc.**<br>6.750% due 04/15/2032 | 32214 | 30517 |
| **Cogent Communications Group LLC/Cogent Finance, Inc.**<br>6.500% due 07/01/2032 (k) | 22321 | 19487 |
| **Columbus McKinnon Corp.**<br>7.125% due 02/01/2033 | 1713 | 1714 |
| **CommonSpirit Health** |  |  |
| 4.352% due 09/01/2030 | 1900 | 1873 |
| 4.975% due 09/01/2035 | 2300 | 2246 |
| **CompoSecure Holdings LLC**<br>5.625% due 02/01/2033 | 3600 | 3520 |
| **Conagra Brands, Inc.**<br>5.000% due 08/01/2030 | 2475 | 2471 |
| **CoreWeave, Inc.**<br>9.000% due 02/01/2031 | 14102 | 13436 |
| **Coterra Energy, Inc.**<br>5.400% due 02/15/2035 | 2000 | 2007 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Crowdstrike Holdings, Inc.**<br>3.000% due 02/15/2029 | 1540 | 1466 |
| **CVS Health Corp.** |  |  |
| 4.300% due 03/25/2028 | 630 | 628 |
| 5.450% due 09/15/2035 | 5220 | 5242 |
| **Cyprium Corp./Cyprium Holdings Luxembourg SARL**<br>6.125% due 04/15/2031 | 3300 | 3261 |
| **Delta Air Lines Pass-Through Trust**<br>2.000% due 12/10/2029 | 3356 | 3246 |
| **Diamond Foreign Asset Co./Diamond Finance LLC**<br>8.500% due 10/01/2030 | 7909 | 8359 |
| **Diamondback Energy, Inc.**<br>5.550% due 04/01/2035 | 9000 | 9188 |
| **Discovery Global Holdings, Inc.** |  |  |
| 4.279% due 03/15/2032 | 10625 | 9416 |
| 5.050% due 03/15/2042 | 4600 | 3042 |
| **DISH DBS Corp.**<br>5.250% due 12/01/2026 | 5250 | 5208 |
| **Ecopetrol SA**<br>8.375% due 01/19/2036 | 20450 | 20751 |
| **Elevance Health, Inc.**<br>4.750% due 02/15/2030 | 3000 | 3021 |
| **Enbridge, Inc.**<br>5.700% due 03/08/2033 | 36093 | 37402 |
| **Energy Transfer LP** |  |  |
| 3.750% due 05/15/2030 | 1736 | 1679 |
| 5.200% due 04/01/2030 | 5000 | 5113 |
| 5.600% due 09/01/2034 | 17210 | 17546 |
| 5.700% due 04/01/2035 | 5019 | 5157 |
| 6.550% due 12/01/2033 | 4382 | 4733 |
| **Eni SpA**<br>5.500% due 05/15/2034 | 17140 | 17564 |
| **Entergy Louisiana LLC** |  |  |
| 4.000% due 03/15/2033 | 2343 | 2226 |
| 5.350% due 03/15/2034 | 3635 | 3738 |
| **EQT Corp.** |  |  |
| 4.500% due 01/15/2029 | 1052 | 1050 |
| 4.750% due 01/15/2031 | 7624 | 7587 |
| **Essent Group Ltd.**<br>6.250% due 07/01/2029 | 18696 | 19350 |
| **Expand Energy Corp.**<br>5.700% due 01/15/2035 | 15095 | 15338 |
| **First Student Bidco, Inc./First Transit Parent, Inc.**<br>4.000% due 07/31/2029 | 4468 | 4280 |
| **Flex Intermediate Holdco LLC**<br>3.363% due 06/30/2031 | 7787 | 7094 |
| **Flex Ltd.** |  |  |
| 5.250% due 01/15/2032 | 4516 | 4536 |
| 5.375% due 11/13/2035 | 20878 | 20526 |
| **Flora Food Management BV** |  |  |
| 6.875% due 07/02/2029 | 3000 | 3259 |
| 7.500% due 10/31/2030 | 9900 | 11341 |
| **Flutter Treasury DAC**<br>5.875% due 06/04/2031 | $48259 | 47849 |
| **Ford Motor Co.**<br>3.250% due 02/12/2032 | 185 | 161 |
| **Gartner, Inc.** |  |  |
| 3.750% due 10/01/2030 | 58704 | 53402 |
| 5.600% due 11/20/2035 | 12153 | 11536 |
| **Global Medical Response, Inc.**<br>7.375% due 10/01/2032 | 6080 | 6319 |
| **Global Payments, Inc.**<br>4.550% due 03/15/2028 | 1500 | 1494 |
| **goeasy Ltd.** |  |  |
| 6.875% due 05/15/2030 | 1100 | 913 |
| 6.875% due 02/15/2031 | 180 | 145 |
| 9.250% due 12/01/2028 | 1738 | 1618 |
| **Gray Media, Inc.**<br>9.625% due 07/15/2032 | 12000 | 12010 |
| **Greensaif Pipelines Bidco SARL**<br>5.853% due 02/23/2036 | 4000 | 4019 |
| **GSG Bidco Ltd.**<br>5.375% due 06/15/2036 | 5400 | 6199 |
| **HCA, Inc.** |  |  |
| 3.625% due 03/15/2032 | $21460 | 19949 |
| 4.625% due 03/15/2052 | 5849 | 4673 |
| 5.500% due 03/01/2032 | 7361 | 7549 |
| 5.750% due 03/01/2035 | 29798 | 30648 |
| **HealthEquity, Inc.**<br>4.500% due 10/01/2029 | 4243 | 4110 |
| **Hologic, Inc.**<br>3.250% due 02/15/2029 | 14717 | 14701 |
| **Howard Midstream Energy Partners LLC**<br>6.625% due 01/15/2034 | 6597 | 6627 |
| **Howmet Aerospace, Inc.**<br>6.750% due 01/15/2028 | 60 | 63 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **IHO Verwaltungs GmbH (8.000% Cash or 8.750% PIK)**<br>8.000% due 11/15/2032 (b) | 200 | 205 |
| **INEOS Finance PLC**<br>6.750% due 05/15/2028 | 3200 | 3096 |
| **Insulet Corp.**<br>6.500% due 04/01/2033 | 2280 | 2329 |
| **Intralot Capital Luxembourg SA**<br>6.750% due 10/15/2031 | 8700 | 9633 |
| **IQVIA, Inc.** |  |  |
| 6.250% due 02/01/2029 | $7289 | 7580 |
| 6.250% due 06/01/2032 | 5389 | 5479 |
| **JetBlue Airways Corp./JetBlue Loyalty LP**<br>9.875% due 09/20/2031 | 11467 | 10853 |
| **JetBlue Pass-Through Trust** |  |  |
| 2.750% due 11/15/2033 | 1511 | 1342 |
| 4.000% due 05/15/2034 | 1216 | 1154 |
| **Las Vegas Sands Corp.** |  |  |
| 3.500% due 08/18/2026 | 2800 | 2791 |
| 3.900% due 08/08/2029 | 6181 | 5959 |
| **Lithia Motors, Inc.**<br>5.500% due 10/01/2030 | 4579 | 4490 |
| **Live Nation Entertainment, Inc.**<br>3.750% due 01/15/2028 | 15597 | 15224 |
| **Manuchar Group SARL**<br>7.150% due 07/07/2032 •  | 5000 | 5471 |
| **Marriott International, Inc.**<br>5.100% due 04/15/2032 | $11705 | 11898 |
| **Marvell Technology, Inc.** |  |  |
| 4.750% due 07/15/2030 | 400 | 402 |
| 5.450% due 07/15/2035 | 500 | 508 |
| 5.750% due 02/15/2029 | 1500 | 1549 |
| **Matador Resources Co.**<br>6.250% due 04/15/2033 | 1000 | 1002 |
| **Mauser Packaging Solutions Holding Co.**<br>7.875% due 04/15/2030 | 425 | 425 |
| **Medline Borrower LP/Medline Co-Issuer, Inc.**<br>6.250% due 04/01/2029 | 2862 | 2920 |
| **Michaels Cos., Inc.**<br>8.500% due 03/15/2033 | 3800 | 3703 |
| **MSCI, Inc.**<br>5.250% due 09/01/2035 | 8691 | 8517 |
| **Murphy Oil USA, Inc.**<br>3.750% due 02/15/2031 | 5036 | 4682 |
| **National Football League** |  |  |
| 4.780% due 10/05/2030 «(i) | 1000 | 995 |
| 5.480% due 10/05/2028 «(i) | 1600 | 1617 |
| **National Fuel Gas Co.** |  |  |
| 5.500% due 03/15/2030 | 1000 | 1023 |
| 5.950% due 03/15/2035 | 3000 | 3105 |
| **National Mentor Holdings, Inc.**<br>10.500% due 12/15/2030 | 14255 | 14725 |
| **Neptune Bidco U.S., Inc.**<br>9.500% due 02/15/2033 | 13460 | 13076 |
| **Newfold Digital Holdings Group, Inc.**<br>7.269% due 04/30/2029 | 2061 | 1665 |
| **Nexstar Media, Inc.** |  |  |
| 6.500% due 09/15/2033 | 12500 | 12603 |
| 7.250% due 04/15/2034 (a) | 6900 | 6928 |
| **Nidda Healthcare Holding GmbH**<br>5.625% due 02/21/2030 | 2000 | 2313 |
| **Nissan Motor Co. Ltd.**<br>4.345% due 09/17/2027 | $7355 | 7160 |
| **Noble Finance II LLC**<br>8.000% due 04/15/2030 | 6734 | 6937 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.**<br>3.875% due 06/18/2026 | 245 | 245 |
| **OAK-Eagle Acquireco, Inc.**<br>8.750% due 07/01/2034 (a) | 5200 | 5447 |
| **Olympus Water U.S. Holding Corp.**<br>6.750% due 08/01/2032 | 800 | 763 |
| **Open Text Holdings, Inc.**<br>4.125% due 02/15/2030 (k) | 4300 | 3846 |
| **Organon & Co./Organon Foreign Debt Co-Issuer BV**<br>6.750% due 05/15/2034 | 500 | 446 |
| **Paradigm Parent LLC & Paradigm Parent Co-Issuer, Inc.**<br>8.750% due 04/17/2032 | 4935 | 4389 |
| **Paramount Global** |  |  |
| 4.375% due 03/15/2043 | 1800 | 1090 |
| 4.600% due 01/15/2045 | 900 | 538 |
| 4.900% due 08/15/2044 | 2200 | 1369 |
| 4.950% due 01/15/2031 | 2589 | 2399 |
| 5.250% due 04/01/2044 | 2943 | 1864 |
| **Permian Resources Operating LLC**<br>5.875% due 07/01/2029 | 1000 | 1002 |
| **Petco Health & Wellness Co., Inc.**<br>8.250% due 02/01/2031 | 3545 | 3543 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Petroleos Mexicanos** |  |  |
| 6.700% due 02/16/2032 | 10975 | 10750 |
| 7.690% due 01/23/2050 | 38575 | 33430 |
| **Post Holdings, Inc.**<br>4.625% due 04/15/2030 | 20402 | 19600 |
| **Prime Healthcare Services, Inc.**<br>9.375% due 09/01/2029 | 1500 | 1557 |
| **Primo Water Holdings, Inc./Triton Water Holdings, Inc.**<br>4.375% due 04/30/2029 | 23251 | 22609 |
| **Qnity Electronics, Inc.** |  |  |
| 5.750% due 08/15/2032 | 4980 | 4992 |
| 6.250% due 08/15/2033 | 400 | 405 |
| **Quikrete Holdings, Inc.** |  |  |
| 6.375% due 03/01/2032 | 13488 | 13687 |
| 6.750% due 03/01/2033 | 5068 | 5151 |
| **QXO Building Products, Inc.**<br>6.750% due 04/30/2032 | 11587 | 11829 |
| **Rand Parent LLC**<br>8.500% due 02/15/2030 | 5995 | 6159 |
| **Rollins, Inc.**<br>5.250% due 02/24/2035 | 21062 | 21058 |
| **Rolls-Royce PLC**<br>5.750% due 10/15/2027 | 3425 | 3480 |
| **Royal Caribbean Cruises Ltd.**<br>5.500% due 04/01/2028 | 21350 | 21599 |
| **Santos Finance Ltd.** |  |  |
| 5.750% due 11/13/2035 | 14020 | 14064 |
| 6.875% due 09/19/2033 | 17507 | 19077 |
| **Seadrill Finance Ltd.**<br>8.375% due 08/01/2030 | 6150 | 6364 |
| **Seagate Data Storage Technology Pte. Ltd.** |  |  |
| 5.875% due 07/15/2030 | 1430 | 1454 |
| 8.250% due 12/15/2029 | 1180 | 1240 |
| 9.625% due 12/01/2032 | 5420 | 6029 |
| **Snam SpA**<br>5.750% due 05/28/2035 | 21474 | 21909 |
| **Snap, Inc.**<br>6.875% due 03/01/2033 (k) | 34091 | 32219 |
| **Sonangol Finance Ltd.**<br>10.000% due 01/29/2031 | 2300 | 2294 |
| **Spirit Airlines Pass-Through Trust** |  |  |
| 3.375% due 08/15/2031 | 634 | 593 |
| 4.100% due 10/01/2029 | 3840 | 3773 |
| **Star Parent, Inc.**<br>9.000% due 10/01/2030 | 3047 | 3161 |
| **Station Casinos LLC**<br>4.500% due 02/15/2028 | 2050 | 2010 |
| **Stonepeak Nile Parent LLC**<br>7.250% due 03/15/2032 | 21962 | 22906 |
| **Stryker Corp.**<br>1.950% due 06/15/2030 | 1000 | 903 |
| **Sunoco LP**<br>5.625% due 03/15/2031 | 1600 | 1594 |
| **SV RNO Property Owner 1 LLC**<br>5.875% due 03/01/2031 | 14500 | 14342 |
| **Synopsys, Inc.** |  |  |
| 4.650% due 04/01/2028 | 2000 | 2008 |
| 4.850% due 04/01/2030 | 4000 | 4030 |
| 5.000% due 04/01/2032 | 15791 | 15933 |
| **T-Mobile USA, Inc.** |  |  |
| 3.750% due 04/15/2027 | 555 | 552 |
| 3.875% due 04/15/2030 | 2960 | 2883 |
| **TD SYNNEX Corp.**<br>5.300% due 10/10/2035 | 15806 | 15322 |
| **TGS ASA**<br>8.500% due 01/15/2030 | 5264 | 5519 |
| **Thames Water Super Senior Issuer PLC**<br>9.750% due 10/10/2027 | 1558 | 2254 |
| **Time Warner Cable LLC**<br>4.500% due 09/15/2042 | $4504 | 3398 |
| **TopBuild Corp.** |  |  |
| 3.625% due 03/15/2029 | 6497 | 6193 |
| 4.125% due 02/15/2032 | 8002 | 7385 |
| **Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC**<br>9.500% due 05/15/2030 | 15011 | 13275 |
| **TransDigm, Inc.** |  |  |
| 6.250% due 01/31/2034 | 300 | 304 |
| 6.750% due 01/31/2034 | 4300 | 4360 |
| 7.125% due 12/01/2031 | 325 | 336 |
| **Transocean Aquila Ltd.**<br>8.000% due 09/30/2028 | 154 | 158 |
| **Transocean International Ltd.**<br>7.875% due 10/15/2032 | 596 | 637 |
| **U.S. Foods, Inc.**<br>4.750% due 02/15/2029 | 307 | 303 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **UKG, Inc.**<br>6.875% due 02/01/2031 | 12407 | 12136 |
| **United Airlines Pass-Through Trust** |  |  |
| 2.700% due 11/01/2033 | 2925 | 2695 |
| 3.500% due 09/01/2031 | 1531 | 1489 |
| 5.450% due 08/15/2038 | 5806 | 5935 |
| 5.875% due 04/15/2029 | 2964 | 3015 |
| **United Airlines, Inc.**<br>4.625% due 04/15/2029 | 3195 | 3137 |
| **United Rentals North America, Inc.**<br>3.875% due 11/15/2027 | 3366 | 3320 |
| **Univision Communications, Inc.** |  |  |
| 8.500% due 07/31/2031 | 11208 | 11271 |
| 9.375% due 08/01/2032 | 1200 | 1238 |
| **Valaris Ltd.**<br>8.375% due 04/30/2030 | 8690 | 9009 |
| **Vale Overseas Ltd.**<br>6.400% due 06/28/2054 | 200 | 203 |
| **Venture Global Calcasieu Pass LLC** |  |  |
| 3.875% due 11/01/2033 | 15235 | 13508 |
| 4.125% due 08/15/2031 | 2201 | 2043 |
| **Venture Global LNG, Inc.** |  |  |
| 7.000% due 01/15/2030 | 22332 | 22813 |
| 8.375% due 06/01/2031 | 12432 | 12935 |
| 9.500% due 02/01/2029 | 100 | 108 |
| **Venture Global Plaquemines LNG LLC** |  |  |
| 6.125% due 12/15/2030 | 29010 | 29851 |
| 6.500% due 01/15/2034 | 15596 | 16268 |
| 6.500% due 06/15/2034 | 11280 | 11749 |
| 6.750% due 01/15/2036 | 28934 | 30664 |
| **Versant Media Group, Inc.**<br>7.250% due 01/30/2031 | 12728 | 13036 |
| **Viking Cruises Ltd.** |  |  |
| 5.875% due 10/15/2033 | 3581 | 3538 |
| 9.125% due 07/15/2031 | 3675 | 3879 |
| **Viper Energy Partners LLC** |  |  |
| 4.900% due 08/01/2030 | 300 | 300 |
| 5.700% due 08/01/2035 | 500 | 504 |
| **Virgin Media O2 Vendor Financing Notes VI DAC**<br>8.500% due 03/15/2033 | 4200 | 3675 |
| **Virgin Media Secured Finance PLC** |  |  |
| 4.250% due 01/15/2030 | 1085 | 1273 |
| 4.500% due 08/15/2030 | $4340 | 3852 |
| **Vmed O2 U.K. Financing I PLC** |  |  |
| 4.250% due 01/31/2031 | 26232 | 22552 |
| 4.750% due 07/15/2031 | 2530 | 2179 |
| 5.625% due 04/15/2032 | 10000 | 10653 |
| 6.750% due 01/15/2033 | $9932 | 8887 |
| 7.750% due 04/15/2032 | 3700 | 3551 |
| **VMware LLC** |  |  |
| 1.400% due 08/15/2026 | 60 | 59 |
| 2.200% due 08/15/2031 | 17414 | 15291 |
| **VOC Escrow Ltd.**<br>5.000% due 02/15/2028 | 705 | 702 |
| **Volkswagen Group of America Finance LLC** |  |  |
| 4.950% due 03/25/2027 | 5000 | 5021 |
| 5.050% due 03/27/2028 | 5000 | 5033 |
| **VZ Secured Financing BV**<br>7.500% due 01/15/2033 | 33316 | 31434 |
| **Wayfair LLC**<br>6.750% due 11/15/2032 | 500 | 504 |
| **Weatherford International Ltd.**<br>6.750% due 10/15/2033 | 5050 | 5163 |
| **Weir Group, Inc.**<br>5.350% due 05/06/2030 | 28868 | 29270 |
| **WESCO Distribution, Inc.**<br>5.250% due 04/15/2031 | 4500 | 4484 |
| **Westinghouse Air Brake Technologies Corp.**<br>3.450% due 11/15/2026 | 60 | 60 |
| **Williams Cos., Inc.**<br>5.300% due 09/30/2035 | 157 | 157 |
| **Woodside Finance Ltd.**<br>5.100% due 09/12/2034 | 4000 | 3939 |
| **WR Grace Holdings LLC**<br>7.000% due 08/01/2033 | 3300 | 3208 |
| **Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.**<br>5.250% due 05/15/2027 | 345 | 344 |
| **Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.**<br>7.125% due 02/15/2031 | 393 | 412 |
| **Yinson Bergenia Production BV**<br>8.498% due 01/31/2045 | 9974 | 10557 |
| **Yinson Boronia Production BV**<br>8.947% due 07/31/2042 | 5392 | 5885 |
| **ZF North America Capital, Inc.** |  |  |
| 6.750% due 04/23/2030 | 830 | 804 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 7.500% due 03/24/2031 | 5690 | 5594 |
|  |  | 2195010 |
| **UTILITIES 2.5%** |  |  |
| **AES Corp.** |  |  |
| 5.450% due 06/01/2028 | 310 | 313 |
| 5.800% due 03/15/2032 | 12273 | 12348 |
| **Aethon United BR LP/Aethon United Finance Corp.**<br>7.500% due 10/01/2029 | 2500 | 2609 |
| **AT&T, Inc.**<br>1.650% due 02/01/2028 | 1380 | 1315 |
| **Boston Gas Co.**<br>5.843% due 01/10/2035 | 27605 | 28967 |
| **Chile Electricity Lux MPC II SARL** |  |  |
| 5.580% due 10/20/2035 | 4399 | 4424 |
| 5.672% due 10/20/2035 | 6796 | 6868 |
| **Comision Ejecutiva Hidroelectrica del Rio Lempa**<br>8.650% due 01/24/2033 | 2300 | 2361 |
| **ContourGlobal Power Holdings SA**<br>6.750% due 02/28/2030 | 7898 | 7997 |
| **Dhafrah Pv2 Energy Co. LLC**<br>5.794% due 06/30/2053 | 8800 | 8556 |
| **DTE Energy Co.**<br>5.200% due 04/01/2030 | 6000 | 6121 |
| **Electricite de France SA**<br>9.125% due 03/15/2033 •(g) | 120 | 139 |
| **Emera U.S. Finance LP**<br>2.639% due 06/15/2031 | 1480 | 1321 |
| **Evergy Kansas Central, Inc.**<br>4.700% due 03/13/2028 | 4200 | 4222 |
| **FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple**<br>7.250% due 01/31/2041 | 5369 | 5383 |
| **FirstEnergy Corp.**<br>3.400% due 03/01/2050 | 10681 | 7113 |
| **Genesis Energy LP/Genesis Energy Finance Corp.** |  |  |
| 6.750% due 03/15/2034 | 6800 | 6773 |
| 8.250% due 01/15/2029 | 3600 | 3722 |
| **NRG Energy, Inc.**<br>4.734% due 10/15/2030 | 26895 | 26660 |
| **Ohio Power Co.**<br>5.000% due 06/01/2033 | 1000 | 995 |
| **ONEOK, Inc.**<br>5.200% due 07/15/2048 | 786 | 691 |
| **Pacific Gas & Electric Co.** |  |  |
| 2.100% due 08/01/2027 | 9400 | 9114 |
| 3.300% due 12/01/2027 | 6400 | 6269 |
| 4.550% due 07/01/2030 | 3929 | 3877 |
| 5.050% due 10/15/2032 | 7116 | 7073 |
| 5.700% due 03/01/2035 | 25071 | 25425 |
| 5.800% due 05/15/2034 | 17844 | 18290 |
| 6.000% due 08/15/2035 | 10997 | 11367 |
| 6.100% due 01/15/2029 | 4121 | 4266 |
| 6.950% due 03/15/2034 | 4746 | 5200 |
| **PacifiCorp** |  |  |
| 4.250% due 03/15/2029 | 1200 | 1187 |
| 5.100% due 04/15/2031 | 4000 | 4011 |
| 5.450% due 04/15/2033 | 5550 | 5570 |
| 5.800% due 04/15/2036 | 1900 | 1916 |
| 7.125% due 08/15/2056 •  | 12060 | 11396 |
| **Puget Energy, Inc.**<br>5.725% due 03/15/2035 | 6500 | 6555 |
| **San Diego Gas & Electric Co.**<br>5.400% due 04/15/2035 | 5500 | 5596 |
| **Southern California Edison Co.** |  |  |
| 5.150% due 06/01/2029 | 3400 | 3449 |
| 5.200% due 06/01/2034 | 4533 | 4501 |
| 5.875% due 12/01/2053 | 1899 | 1797 |
| **Sprint Capital Corp.**<br>6.875% due 11/15/2028 | 600 | 635 |
| **System Energy Resources, Inc.**<br>5.300% due 12/15/2034 | 29884 | 29819 |
| **Verizon Communications, Inc.** |  |  |
| 4.750% due 01/15/2033 | 1550 | 1531 |
| 5.000% due 01/15/2036 | 1661 | 1627 |
| **Wisconsin Power & Light Co.**<br>5.375% due 03/30/2034 | 1583 | 1608 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Yinson Production Financial Services Pte. Ltd.**<br>9.625% due 05/03/2029 |  | 2900 | 3034 |
|  |  |  | 314011 |
| Total Corporate Bonds & Notes (Cost $3,822,842) |  |  | 3788634 |
| **MUNICIPAL BONDS & NOTES 0.0%** |  |  |  |
| **ARIZONA 0.0%** |  |  |  |
| **Maricopa County, Arizona Industrial Development Authority Revenue Notes, Series 2024**<br>7.375% due 10/01/2029 |  | 3000 | 3164 |
| **CALIFORNIA 0.0%** |  |  |  |
| **California State General Obligation Bonds, Series 2023**<br>5.125% due 03/01/2038 |  | 155 | 155 |
| **California State University Revenue Bonds, Series 2020**<br>2.975% due 11/01/2051 |  | 215 | 141 |
|  |  |  | 296 |
| Total Municipal Bonds & Notes (Cost $3,313) |  |  | 3460 |
| **U.S. GOVERNMENT AGENCIES 40.5%** |  |  |  |
| **Federal Home Loan Mortgage Corp.** |  |  |  |
| 6.000% due 10/01/2053 |  | 91 | 93 |
| 6.500% due 09/01/2054 - 03/01/2055 |  | 7264 | 7515 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates** |  |  |  |
| 2.776% due 06/25/2054 ~ |  | 1695 | 1652 |
| 2.937% due 07/25/2054 ~ |  | 27959 | 27164 |
| **Federal Home Loan Mortgage Corp. REMICS** |  |  |  |
| 4.562% due 11/25/2054 - 12/25/2055 •  |  | 17650 | 17731 |
| 4.862% due 02/25/2055 •  |  | 7162 | 7229 |
| **Federal Home Loan Mortgage Corp. STACR REMICS Trust** |  |  |  |
| 10.762% due 01/25/2042 •  |  | 6000 | 6227 |
| 11.462% due 11/25/2041 •  |  | 12648 | 13081 |
| **Federal National Mortgage Association**<br>6.500% due 11/01/2054 - 03/01/2055 |  | 15345 | 15883 |
| **Federal National Mortgage Association Connecticut Avenue Securities Trust** |  |  |  |
| 10.662% due 04/25/2042 •  |  | 5800 | 6117 |
| 13.162% due 03/25/2042 •  |  | 2000 | 2137 |
| 13.512% due 03/25/2042 •  |  | 5000 | 5387 |
| **Federal National Mortgage Association REMICS**<br>4.772% due 04/25/2056 •  |  | 6000 | 5997 |
| **Government National Mortgage Association** |  |  |  |
| 3.000% due 03/20/2052 - 06/20/2052 |  | 27968 | 25004 |
| 7.000% due 06/20/2055 |  | 502 | 511 |
| **Government National Mortgage Association REMICS**<br>4.533% due 01/20/2067 •  |  | 323 | 323 |
| **Uniform Mortgage-Backed Security, TBA** |  |  |  |
| 3.000% due 05/01/2056 |  | 48400 | 42477 |
| 4.000% due 05/01/2056 |  | 695575 | 655884 |
| 4.500% due 05/01/2056 |  | 857600 | 826885 |
| 5.000% due 05/01/2056 |  | 816475 | 804287 |
| 6.000% due 05/01/2056 |  | 1029403 | 1048133 |
| 6.500% due 04/01/2056 - 05/01/2056 |  | 1503462 | 1554922 |
| Total U.S. Government Agencies (Cost $5,060,250) |  |  | 5074639 |
| **U.S. TREASURY OBLIGATIONS 4.4%** |  |  |  |
| **U.S. Treasury Bonds** |  |  |  |
| 3.125% due 05/15/2048 (m) |  | 116700 | 87858 |
| 4.625% due 11/15/2045 (m) |  | 268900 | 259404 |
| **U.S. Treasury Inflation Protected Securities** **(f)** |  |  |  |
| 1.875% due 07/15/2034 (m) |  | 101667 | 102205 |
| 2.125% due 04/15/2029 (m) |  | 98267 | 100913 |
| Total U.S. Treasury Obligations (Cost $548,610) |  |  | 550380 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 7.2%** |  |  |  |
| **ACRA Trust**<br>5.608% due 10/25/2064 þ |  | 4195 | 4209 |
| **American Home Mortgage Assets Trust**<br>4.779% due 11/25/2046 •  |  | 500 | 117 |
| **American Home Mortgage Investment Trust**<br>6.000% due 02/25/2045 þ |  | 7500 | 6574 |
| **Angel Oak Mortgage Trust** |  |  |  |
| 4.800% due 11/25/2067 þ |  | 1922 | 1913 |
| 4.846% due 07/25/2062 þ |  | 7748 | 7678 |
| 5.410% due 07/25/2070 þ |  | 1869 | 1874 |
| 5.985% due 01/25/2069 þ |  | 1343 | 1349 |
| 6.197% due 01/25/2069 þ |  | 2478 | 2497 |
| 6.500% due 12/25/2067 þ |  | 581 | 583 |
| **Aran Funding DAC**<br>3.040% due 12/24/2065 •  | EUR | 3936 | 4545 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **ATLX Trust** |  |  |
| 3.850% due 04/25/2063 þ | $5319 | 5170 |
| 3.850% due 04/25/2064 þ | 5550 | 5404 |
| **Avon Finance**<br>4.645% due 12/28/2049 •  | 595 | 788 |
| **BAMLL Commercial Mortgage Securities Trust**<br>2.847% due 04/20/2042 | $2790 | 2294 |
| **Banc of America Alternative Loan Trust** |  |  |
| 5.707% due 10/25/2036 ~ | 3828 | 956 |
| 6.359% due 10/25/2036 þ | 5023 | 1252 |
| **Bank5**<br>5.270% due 12/15/2058 | 28000 | 28622 |
| **BBCMS Mortgage Trust** |  |  |
| 5.137% due 12/15/2057 | 5000 | 5071 |
| 5.609% due 12/15/2057 | 5000 | 5160 |
| **Bear Stearns Mortgage Funding Trust**<br>4.213% due 07/25/2036 •  | 714 | 669 |
| **Benchmark Mortgage Trust** |  |  |
| 2.732% due 02/15/2053 | 1400 | 1304 |
| 3.944% due 07/15/2051 | 1300 | 1284 |
| 4.203% due 10/10/2051 | 497 | 496 |
| **BINOM Securitization Trust**<br>4.441% due 08/25/2057 ~ | 4775 | 4654 |
| **BMO Mortgage Trust** |  |  |
| 5.092% due 11/15/2057 | 10000 | 10129 |
| 5.153% due 12/15/2057 | 5000 | 5073 |
| 5.462% due 02/15/2057 | 2400 | 2442 |
| 5.566% due 11/15/2057 ~ | 10000 | 10277 |
| 5.625% due 12/15/2057 ~ | 5700 | 5869 |
| 5.857% due 02/15/2057 | 19995 | 20658 |
| **BX Commercial Mortgage Trust**<br>4.685% due 02/15/2039 •  | 20 | 20 |
| **Chase Home Lending Mortgage Trust** |  |  |
| 3.250% due 03/25/2063 ~ | 916 | 824 |
| 3.250% due 09/25/2063 ~ | 18342 | 16452 |
| 3.250% due 03/25/2064 ~ | 3399 | 3008 |
| 3.250% due 08/25/2064 ~ | 4309 | 3833 |
| 3.250% due 09/25/2064 ~ | 7587 | 6748 |
| 3.375% due 12/25/2064 ~ | 12483 | 11179 |
| 3.375% due 04/25/2065 ~ | 940 | 845 |
| **CIM Trust** |  |  |
| 4.750% due 06/25/2064 ~ | 3343 | 3290 |
| 5.000% due 02/25/2099 þ | 11096 | 10989 |
| 6.639% due 12/25/2067 þ | 294 | 295 |
| **Citigroup Mortgage Loan Trust**<br>3.375% due 10/25/2062 þ | 1828 | 1680 |
| **COLT Mortgage Loan Trust** |  |  |
| 6.393% due 06/25/2069 þ | 2862 | 2891 |
| 6.421% due 05/25/2069 þ | 1384 | 1398 |
| **COMM Mortgage Trust**<br>3.140% due 10/10/2036 | 1900 | 1842 |
| **CORPIJ944**<br>4.920% due 03/15/2031 «(i) | 4700 | 4614 |
| **Cross Mortgage Trust** |  |  |
| 5.003% due 11/25/2070 ~ | 940 | 936 |
| 5.036% due 11/25/2070 ~ | 1083 | 1079 |
| 5.181% due 07/25/2070 ~ | 4540 | 4536 |
| 5.549% due 12/25/2069 ~ | 3930 | 3945 |
| 6.093% due 04/25/2069 þ | 535 | 539 |
| 6.147% due 07/25/2069 þ | 2558 | 2579 |
| 6.272% due 06/25/2069 þ | 3250 | 3277 |
| 6.615% due 03/25/2068 þ | 228 | 228 |
| **CSAB Mortgage-Backed Trust**<br>6.220% due 09/25/2036 þ | 5691 | 1517 |
| **CSMC Trust** |  |  |
| 1.115% due 01/25/2060 ~ | 2480 | 2099 |
| 2.000% due 01/25/2060 ~ | 8604 | 7774 |
| 3.650% due 07/25/2058 ~ | 456 | 450 |
| 3.927% due 09/25/2057 ~ | 1000 | 949 |
| 4.339% due 08/01/2057 ~ | 865 | 843 |
| **DC Commercial Mortgage Trust**<br>6.314% due 09/12/2040 | 500 | 510 |
| **Deephaven Residential Mortgage Trust**<br>5.087% due 11/25/2060 ~ | 964 | 962 |
| **Deutsche Alt-A Securities, Inc. Mortgage Loan Trust** |  |  |
| 4.093% due 09/25/2047 •  | 5677 | 5000 |
| 4.273% due 12/25/2036 •  | 24563 | 5079 |
| **Ellington Financial Mortgage Trust** |  |  |
| 4.914% due 12/25/2060 þ | 945 | 937 |
| 5.100% due 10/25/2070 þ | 961 | 957 |
| 5.522% due 01/26/2060 þ | 4349 | 4364 |
| 5.655% due 02/25/2060 þ | 11491 | 11556 |
| 5.726% due 01/25/2060 þ | 5645 | 5678 |
| **Finance of America HECM Buyout** |  |  |
| 4.250% due 03/25/2029 «~ | 6400 | 6306 |
| 4.500% due 11/25/2035 ~ | 2469 | 2446 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **GCAT Trust** |  |  |
| 4.250% due 05/25/2067 ~ | 2572 | 2430 |
| 6.007% due 01/25/2059 þ | 500 | 502 |
| 6.085% due 06/25/2059 þ | 1476 | 1488 |
| **GS Mortgage Securities Corp. Trust** |  |  |
| 3.721% due 02/10/2037 | 6500 | 6380 |
| 5.040% due 12/15/2036 •  | 5545 | 5540 |
| **GS Mortgage-Backed Securities Trust** |  |  |
| 3.900% due 09/25/2061 þ | 5166 | 5049 |
| 4.100% due 07/25/2065 þ | 939 | 913 |
| 5.013% due 07/25/2065 þ | 877 | 873 |
| 5.648% due 06/25/2065 þ | 18907 | 19026 |
| **GSR Mortgage Loan Trust**<br>4.373% due 08/25/2046 •  | 21271 | 4446 |
| **HarborView Mortgage Loan Trust** |  |  |
| 4.411% due 11/19/2035 •  | 1309 | 827 |
| 4.470% due 06/20/2035 •  | 4697 | 4445 |
| **JP Morgan Chase Commercial Mortgage Securities Trust** |  |  |
| 4.519% due 04/15/2037 •  | 2724 | 2698 |
| 4.770% due 02/15/2035 •  | 823 | 813 |
| **JP Morgan Mortgage Trust** |  |  |
| 4.625% due 07/25/2063 ~ | 1445 | 1407 |
| 4.787% due 06/25/2066 ~ | 1390 | 1380 |
| 4.954% due 03/25/2066 ~ | 927 | 924 |
| 5.250% due 11/25/2063 ~ | 360 | 358 |
| 5.567% due 09/25/2065 ~ | 838 | 842 |
| 5.990% due 07/25/2064 ~ | 718 | 723 |
| **JP Morgan Seasoned Mortgage Trust** |  |  |
| 3.684% due 01/25/2063 ~ | 914 | 854 |
| 4.337% due 01/25/2063 ~ | 1746 | 1678 |
| **Lehman Mortgage Trust**<br>4.293% due 10/25/2036 •  | 12609 | 3050 |
| **Lehman XS Trust** |  |  |
| 4.173% due 12/25/2036 •  | 1633 | 1356 |
| 4.313% due 02/25/2046 •  | 8604 | 7869 |
| 4.733% due 09/25/2047 •  | 7942 | 7524 |
| **Merrill Lynch Alternative Note Asset Trust**<br>4.213% due 04/25/2037 •  | 725 | 588 |
| **Merrion Square Residential DAC**<br>3.019% due 03/24/2081 •  | 7404 | 8583 |
| **MF1 Trust**<br>4.743% due 12/15/2034 •  | $3790 | 3776 |
| **MFA Trust** |  |  |
| 4.250% due 02/25/2066 ~ | 1653 | 1578 |
| 5.675% due 05/27/2070 þ | 11601 | 11662 |
| 6.105% due 12/25/2068 þ | 1446 | 1454 |
| 6.775% due 10/25/2058 þ | 882 | 888 |
| **Mill City Mortgage Loan Trust** |  |  |
| 3.250% due 07/25/2059 ~ | 13945 | 12283 |
| 3.250% due 01/25/2061 ~ | 3001 | 2675 |
| 3.250% due 10/25/2069 ~ | 3168 | 3109 |
| **Morgan Stanley Bank of America Merrill Lynch Trust**<br>5.107% due 11/15/2058 | 2000 | 2028 |
| **Morgan Stanley Residential Mortgage Loan Trust** |  |  |
| 4.000% due 01/25/2064 þ | 9859 | 9532 |
| 4.000% due 06/25/2064 þ | 6868 | 6687 |
| 4.963% due 09/25/2070 ~ | 717 | 716 |
| 5.016% due 09/25/2070 ~ | 932 | 931 |
| 5.021% due 11/25/2070 þ | 918 | 917 |
| 5.044% due 07/25/2069 ~ | 6082 | 6068 |
| 5.443% due 07/25/2070 ~ | 1416 | 1421 |
| 5.530% due 05/25/2070 ~ | 811 | 814 |
| **New Orleans Hotel Trust**<br>4.709% due 04/15/2032 •  | 9793 | 9698 |
| **New Residential Mortgage Loan Trust**<br>5.085% due 10/25/2065 ~ | 944 | 943 |
| **NLT Trust**<br>3.200% due 10/25/2062 ~ | 2892 | 2671 |
| **Nomura Asset Acceptance Corp. Alternative Loan Trust** |  |  |
| 5.654% due 01/25/2036 ~ | 4652 | 1297 |
| 5.978% due 08/25/2036 ~ | 9077 | 2311 |
| 6.757% due 06/25/2036 þ | 10206 | 2546 |
| **Nomura Resecuritization Trust**<br>4.349% due 10/26/2036 •  | 2940 | 2667 |
| **NYMT Loan Trust** |  |  |
| 3.750% due 02/25/2068 ~ | 799 | 740 |
| 3.750% due 11/25/2069 ~ | 917 | 884 |
| 5.379% due 06/25/2069 ~ | 5060 | 5075 |
| **OBX Trust** |  |  |
| 3.620% due 03/25/2053 ~ | 1033 | 1035 |
| 3.703% due 04/25/2053 ~ | 1370 | 1365 |
| 4.700% due 07/25/2062 þ | 4330 | 4289 |
| 4.940% due 09/25/2062 þ | 1632 | 1622 |
| 5.110% due 08/25/2062 þ | 7136 | 7117 |
| 5.530% due 10/25/2064 þ | 3451 | 3466 |
| 5.878% due 12/25/2063 þ | 5256 | 5278 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.233% due 05/25/2064 þ | 1937 | 1955 |
| 6.465% due 10/25/2063 þ | 540 | 544 |
| 6.520% due 07/25/2063 þ | 237 | 237 |
| 6.567% due 06/25/2063 þ | 248 | 248 |
| 6.844% due 04/25/2063 þ | 585 | 588 |
| 7.159% due 10/25/2063 þ | 1024 | 1033 |
| **Oceanview Mortgage Trust**<br>4.611% due 05/25/2055 •  | 915 | 917 |
| **PMT Loan Trust**<br>5.012% due 08/25/2056 •  | 524 | 526 |
| **Pretium Mortgage Credit Partners LLC** |  |  |
| 4.000% due 08/25/2064 þ | 4354 | 4229 |
| 4.000% due 03/25/2065 þ | 2959 | 2867 |
| 4.000% due 07/25/2069 þ | 1792 | 1744 |
| 4.075% due 06/25/2064 ~ | 3223 | 3047 |
| 4.150% due 04/25/2065 þ | 3137 | 3056 |
| 4.150% due 01/25/2070 þ | 3472 | 3367 |
| 5.249% due 10/25/2055 | 4185 | 4169 |
| **PRKCM Trust** |  |  |
| 5.101% due 10/25/2060 þ | 957 | 955 |
| 6.431% due 05/25/2059 þ | 1483 | 1498 |
| 6.584% due 09/25/2058 þ | 490 | 491 |
| 7.225% due 11/25/2058 þ | 513 | 518 |
| **Project Cashmere** |  |  |
| 4.543% due 12/30/2057 «(a) | 151700 | 104665 |
| 5.713% due 12/30/2057 «(a) | 5100 | 3519 |
| 5.863% due 12/30/2057 «(a) | 3500 | 2415 |
| 6.163% due 12/30/2057 «(a) | 1900 | 1311 |
| 6.563% due 12/30/2057 «(a) | 1300 | 897 |
| **PRPM LLC** |  |  |
| 3.750% due 03/25/2054 þ | $715 | 701 |
| 3.750% due 04/25/2055 þ | 11016 | 10734 |
| 4.000% due 11/25/2053 þ | 744 | 734 |
| 4.000% due 01/25/2054 þ | 1374 | 1357 |
| 4.000% due 05/25/2054 þ | 615 | 606 |
| 4.000% due 07/25/2054 þ | 622 | 613 |
| 4.000% due 08/25/2054 þ | 1187 | 1168 |
| 4.000% due 11/25/2054 þ | 6839 | 6684 |
| 4.000% due 10/25/2064 þ | 1461 | 1431 |
| 4.200% due 12/25/2064 þ | 2259 | 2227 |
| 4.500% due 02/25/2055 þ | 1520 | 1501 |
| 4.500% due 08/25/2055 þ | 414 | 408 |
| 4.500% due 06/25/2065 þ | 4008 | 3926 |
| 4.839% due 10/25/2055 þ | 900 | 891 |
| 4.942% due 12/25/2055 þ | 927 | 919 |
| 5.089% due 02/25/2031 þ | 1241 | 1241 |
| 5.185% due 02/25/2031 þ | 3530 | 3495 |
| 5.250% due 07/25/2055 þ | 787 | 786 |
| 5.385% due 10/25/2030 þ | 916 | 912 |
| 5.503% due 08/25/2030 þ | 1275 | 1272 |
| 5.699% due 11/25/2029 þ | 1605 | 1607 |
| 5.729% due 07/25/2030 þ | 901 | 899 |
| 5.774% due 08/25/2028 þ | 898 | 896 |
| 5.870% due 11/25/2029 þ | 6385 | 6392 |
| 5.897% due 12/25/2029 þ | 6411 | 6410 |
| 6.179% due 06/25/2030 þ | 901 | 900 |
| 6.469% due 05/25/2030 þ | 7737 | 7725 |
| **PRPM Trust** |  |  |
| 4.845% due 01/25/2056 þ | 951 | 947 |
| 5.674% due 12/26/2069 þ | 4995 | 5016 |
| 5.802% due 11/25/2069 þ | 12878 | 12956 |
| 6.221% due 11/25/2068 þ | 1225 | 1234 |
| 6.250% due 08/25/2068 þ | 588 | 589 |
| 6.255% due 05/25/2030 þ | 4790 | 4780 |
| 6.265% due 12/25/2068 þ | 2371 | 2385 |
| 6.327% due 06/25/2069 þ | 2190 | 2210 |
| **RALI Trust**<br>6.500% due 09/25/2037 | 4798 | 3967 |
| **Santander Mortgage Asset Receivable Trust** |  |  |
| 5.176% due 03/25/2066 ~ | 1100 | 1098 |
| 5.545% due 01/25/2065 þ | 1603 | 1609 |
| 5.732% due 02/25/2065 þ | 11780 | 11856 |
| **Sequoia Mortgage Trust** |  |  |
| 4.435% due 11/25/2063 ~ | 12400 | 12391 |
| 4.674% due 04/25/2056 ~ | 1000 | 977 |
| 5.046% due 10/25/2055 ~ | 379 | 379 |
| **SMRT Commercial Mortgage Trust**<br>4.673% due 01/15/2039 •  | 1500 | 1499 |
| **Tib Finance PLC**<br>7.111% due 11/15/2034 «(i) | 2200 | 2146 |
| **Towd Point Mortgage Trust** |  |  |
| 1.750% due 10/25/2060 | 870 | 795 |
| 2.900% due 10/25/2059 ~ | 769 | 740 |
| 3.750% due 04/25/2057 ~ | 1240 | 1229 |
| 3.750% due 09/25/2062 | 6830 | 6508 |
| 4.057% due 04/25/2055 ~ | 7500 | 7322 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.103% due 01/25/2066 ~ | 2153 | 2125 |
| 4.546% due 10/27/2064 ~ | 17216 | 17244 |
| 4.612% due 10/25/2064 ~ | 15673 | 15549 |
| 4.793% due 10/25/2048 •  | 445 | 446 |
| **Trinity Square PLC**<br>5.044% (SONIO/N + 1.300%) due 07/15/2059 ~ | 1000 | 1325 |
| **Verus Securitization Trust** |  |  |
| 4.832% due 10/25/2067 ~ | $1176 | 1166 |
| 4.858% due 12/25/2070 þ | 1857 | 1852 |
| 5.218% due 09/25/2069 ~ | 6056 | 6076 |
| 5.389% due 10/25/2067 ~ | 2400 | 2402 |
| 5.402% due 05/25/2065 þ | 882 | 885 |
| 5.811% due 05/25/2068 þ | 934 | 932 |
| 6.116% due 03/25/2069 þ | 8055 | 8108 |
| 6.192% due 06/25/2069 þ | 3497 | 3530 |
| 6.218% due 06/25/2069 þ | 3377 | 3406 |
| 6.259% due 12/25/2068 þ | 4386 | 4410 |
| 6.338% due 04/25/2069 þ | 1969 | 1987 |
| 6.443% due 08/25/2068 þ | 641 | 642 |
| 6.665% due 09/25/2068 þ | 564 | 567 |
| 6.876% due 11/25/2068 ~ | 918 | 926 |
| 7.070% due 10/25/2068 þ | 491 | 495 |
| **Visio Trust**<br>6.598% due 10/25/2058 þ | 668 | 670 |
| **WaMu Mortgage Pass-Through Certificates Trust** |  |  |
| 4.650% due 01/25/2036 ~ | 4137 | 4009 |
| 4.653% due 10/25/2045 •  | 1686 | 1642 |
| **Wells Fargo Commercial Mortgage Trust** |  |  |
| 2.892% due 08/15/2052 | 1400 | 1321 |
| 3.640% due 12/15/2059 | 500 | 498 |
| 5.266% due 10/15/2042 •  | 1500 | 1499 |
| 5.315% due 07/15/2037 •  | 900 | 899 |
| 5.439% due 11/15/2057 | 10000 | 10227 |
| 5.920% due 11/15/2057 ~ | 10000 | 10393 |
| **WSTN Trust**<br>6.297% due 07/05/2037 ~ | 400 | 404 |
| Total Non-Agency Mortgage-Backed Securities (Cost $896,180) |  | 904973 |
| **ASSET-BACKED SECURITIES 28.4%** |  |  |
| **AUTOMOBILE ABS OTHER 3.3%** |  |  |
| **Ally Bank Auto Credit-Linked Notes** |  |  |
| 4.648% due 06/15/2033 | 738 | 740 |
| 6.315% due 05/17/2032 | 207 | 210 |
| **Arivo Acceptance Auto Loan Receivables Trust**<br>5.110% due 11/17/2031 | 5000 | 5020 |
| **Bridgecrest Lending Auto Securitization Trust**<br>5.170% due 03/17/2031 | 15000 | 15087 |
| **CarMax Select Receivables Trust** |  |  |
| 4.350% due 07/15/2030 | 7000 | 6966 |
| 5.010% due 09/16/2030 | 10000 | 10110 |
| **Carvana Auto Receivables Trust** |  |  |
| 4.670% due 12/10/2030 | 6000 | 6016 |
| 4.900% due 12/10/2030 | 6000 | 6011 |
| 5.820% due 09/10/2030 | 3750 | 3802 |
| **Consumer Portfolio Services Auto Trust** |  |  |
| 4.790% due 11/15/2029 | 3500 | 3513 |
| 5.120% due 07/15/2031 | 3300 | 3324 |
| **CPS Auto Receivables Trust** |  |  |
| 4.430% due 09/16/2030 | 7900 | 7883 |
| 4.650% due 03/15/2029 | 5300 | 5307 |
| 4.710% due 12/17/2029 | 3400 | 3410 |
| 4.760% due 01/15/2031 | 7000 | 7010 |
| 4.910% due 10/15/2031 | 10600 | 10624 |
| 5.740% due 04/15/2030 | 1437 | 1444 |
| **Drive Auto Receivables Trust** |  |  |
| 4.520% due 07/16/2029 | 6000 | 6013 |
| 4.670% due 05/17/2032 | 6000 | 6030 |
| 4.990% due 09/15/2032 | 13300 | 13411 |
| **Exeter Automobile Receivables Trust** |  |  |
| 4.400% due 05/15/2030 | 5400 | 5397 |
| 4.480% due 04/16/2029 | 7889 | 7899 |
| 4.640% due 01/15/2030 | 8000 | 8022 |
| 4.660% due 01/15/2031 | 3700 | 3708 |
| 4.920% due 09/17/2029 | 20000 | 20120 |
| 5.090% due 10/15/2031 | 21500 | 21633 |
| 5.160% due 07/15/2031 | 20000 | 20150 |
| 5.410% due 05/15/2030 | 1500 | 1511 |
| **First Investors Auto Owner Trust**<br>4.310% due 07/16/2029 (a) | 2700 | 2700 |
| **Foursight Capital Automobile Receivables Trust**<br>5.550% due 05/15/2029 | 1000 | 1007 |
| **GLS Auto Receivables Issuer Trust** |  |  |
| 4.220% due 08/17/2030 | 15000 | 14904 |
| 4.570% due 01/15/2030 | 13000 | 13027 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| 4.970% due 10/15/2029 |  | 20000 | 20174 |
| 5.080% due 01/16/2029 |  | 2800 | 2811 |
| 5.110% due 01/15/2031 |  | 17900 | 18050 |
| 5.210% due 02/18/2031 |  | 6000 | 6059 |
| **GLS Auto Select Receivables Issuer Trust**<br>4.520% due 12/15/2031 |  | 9500 | 9424 |
| **GLS Auto Select Receivables Trust** |  |  |  |
| 4.500% due 11/15/2030 |  | 630 | 629 |
| 5.640% due 06/17/2030 |  | 3250 | 3305 |
| 5.640% due 08/15/2030 |  | 800 | 815 |
| 5.920% due 08/15/2030 |  | 1000 | 1027 |
| **Santander Drive Auto Receivables Trust** |  |  |  |
| 4.490% due 09/15/2031 |  | 15100 | 15147 |
| 4.680% due 09/15/2031 |  | 10800 | 10824 |
| 4.870% due 05/15/2031 |  | 20000 | 20140 |
| 5.060% due 05/15/2031 |  | 20000 | 20187 |
| 5.450% due 03/15/2030 |  | 1295 | 1307 |
| 6.400% due 03/17/2031 |  | 500 | 514 |
| 6.430% due 02/18/2031 |  | 500 | 514 |
| **SFS Auto Receivables Securitization Trust**<br>4.133% due 08/20/2029 •  |  | 7900 | 7900 |
| **Westlake Automobile Receivables Trust**<br>4.630% due 01/15/2031 |  | 3100 | 3114 |
| **World Omni Select Auto Trust**<br>5.180% due 06/17/2030 |  | 27020 | 27229 |
|  |  |  | 411179 |
| **AUTOMOBILE SEQUENTIAL 4.4%** |  |  |  |
| **Ally Bank Auto Credit-Linked Notes**<br>4.452% due 06/15/2033 |  | 11077 | 11099 |
| **American Credit Acceptance Receivables Trust**<br>4.730% due 01/12/2029 |  | 258 | 258 |
| **Arivo Acceptance Auto Loan Receivables Trust**<br>4.920% due 05/15/2029 |  | 450 | 452 |
| **AutoNation Finance Trust**<br>3.950% due 01/11/2029 |  | 45000 | 44971 |
| **Avis Budget Rental Car Funding AESOP LLC** |  |  |  |
| 5.200% due 10/20/2027 |  | 500 | 502 |
| 5.360% due 06/20/2030 |  | 2000 | 2047 |
| 5.900% due 08/21/2028 |  | 1200 | 1223 |
| **Bridgecrest Lending Auto Securitization Trust** |  |  |  |
| 4.040% due 12/17/2029 |  | 21000 | 20993 |
| 4.100% due 07/17/2028 |  | 500 | 500 |
| 4.730% due 02/15/2028 |  | 246 | 246 |
| **CarMax Auto Owner Trust**<br>5.500% due 01/16/2029 |  | 1293 | 1306 |
| **CarMax Select Receivables Trust** |  |  |  |
| 4.030% due 12/17/2029 |  | 9200 | 9197 |
| 4.190% due 03/15/2029 |  | 1600 | 1600 |
| 4.770% due 09/17/2029 |  | 10000 | 10069 |
| **Carvana Auto Receivables Trust** |  |  |  |
| 4.100% due 06/11/2029 |  | 13900 | 13887 |
| 4.260% due 10/10/2029 |  | 2128 | 2128 |
| 5.050% due 04/10/2029 |  | 334 | 335 |
| **Citizens Auto Receivables Trust**<br>5.780% due 10/15/2030 |  | 1100 | 1112 |
| **Consumer Portfolio Services Auto Trust**<br>4.460% due 07/16/2029 |  | 24265 | 24302 |
| **CPS Auto Receivables Trust** |  |  |  |
| 4.190% due 12/17/2029 |  | 3093 | 3091 |
| 4.710% due 03/15/2029 |  | 336 | 337 |
| **Drive Auto Receivables Trust** |  |  |  |
| 4.140% due 09/15/2032 |  | 2000 | 1999 |
| 4.290% due 10/16/2028 |  | 2121 | 2121 |
| 4.730% due 09/15/2032 |  | 30000 | 30110 |
| **Enterprise Fleet Financing LLC** |  |  |  |
| 3.849% due 02/22/2027 |  | 6262 | 6261 |
| 4.000% due 10/20/2028 |  | 10800 | 10777 |
| **Exeter Automobile Receivables Trust** |  |  |  |
| 4.030% due 03/15/2030 |  | 30000 | 29916 |
| 4.080% due 09/15/2028 |  | 1000 | 1000 |
| 4.310% due 11/15/2028 |  | 5900 | 5903 |
| 4.390% due 09/17/2029 |  | 10000 | 10016 |
| 4.450% due 05/15/2030 |  | 19000 | 19031 |
| 4.530% due 03/15/2028 |  | 572 | 572 |
| **Exeter Select Automobile Receivables Trust**<br>4.540% due 06/15/2029 |  | 382 | 383 |
| **FCCU Auto Receivables Trust** |  |  |  |
| 3.980% due 10/15/2029 |  | 2500 | 2495 |
| 5.460% due 04/15/2030 |  | 1000 | 1017 |
| **FHF Issuer Trust** |  |  |  |
| 5.690% due 02/15/2030 |  | 1130 | 1136 |
| 5.890% due 06/15/2030 |  | 1377 | 1387 |
| **Ford Auto Securitization Trust** |  |  |  |
| 4.972% due 03/15/2030 | CAD | 3000 | 2205 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.053% due 07/15/2028 | 1431 | 1039 |
| **Foursight Capital Automobile Receivables Trust**<br>5.490% due 01/16/2029 | $269 | 269 |
| **GLS Auto Receivables Issuer Trust** |  |  |
| 3.970% due 11/15/2029 | 10100 | 10068 |
| 4.040% due 11/15/2028 | 30500 | 30477 |
| 4.440% due 03/15/2029 | 9300 | 9326 |
| 4.520% due 07/17/2028 | 2165 | 2168 |
| 4.750% due 01/16/2029 | 19000 | 19079 |
| **GLS Auto Select Receivables Trust**<br>4.460% due 10/15/2030 | 431 | 431 |
| **GM Financial Consumer Automobile Receivables Trust**<br>5.130% due 04/16/2029 | 10185 | 10260 |
| **Lendbuzz Securitization Trust** |  |  |
| 4.970% due 10/15/2029 | 2573 | 2576 |
| 5.100% due 10/15/2030 | 8010 | 8031 |
| 7.090% due 10/16/2028 | 476 | 481 |
| **Nissan Auto Lease Trust**<br>3.900% due 05/15/2028 | 10000 | 9978 |
| **Nissan Auto Receivables Owner Trust**<br>4.450% due 11/15/2029 | 2597 | 2600 |
| **OneMain Direct Auto Receivables Trust**<br>5.410% due 11/14/2029 | 3717 | 3744 |
| **Research-Driven Pagaya Motor Asset Trust** |  |  |
| 4.731% due 07/27/2026 | 130 | 130 |
| 5.124% due 04/25/2034 | 500 | 502 |
| **Santander Drive Auto Receivables Trust** |  |  |
| 3.930% due 07/15/2030 | 31900 | 31708 |
| 4.040% due 03/15/2029 | 11900 | 11897 |
| 4.280% due 01/15/2029 | 2436 | 2438 |
| 4.630% due 10/16/2028 | 1865 | 1869 |
| **SBNA Auto Lease Trust**<br>5.560% due 11/22/2027 | 1293 | 1297 |
| **SCCU Auto Receivables Trust** |  |  |
| 4.570% due 01/15/2031 | 3000 | 3012 |
| 4.670% due 11/15/2028 | 369 | 370 |
| **SFS Auto Receivables Securitization Trust**<br>3.910% due 08/20/2029 | 3200 | 3193 |
| **Tesla Lease Electric Vehicle Securitization LLC** |  |  |
| 4.140% due 06/20/2028 | 5213 | 5214 |
| 4.270% due 11/20/2028 | 25000 | 25027 |
| **Upgrade Auto Receivables Trust** |  |  |
| 4.540% due 05/15/2029 | 4741 | 4744 |
| 4.590% due 10/15/2031 | 3100 | 3075 |
| 4.600% due 01/15/2031 | 13000 | 12978 |
| **Veros Auto Receivables Trust** |  |  |
| 5.310% due 09/15/2028 | 10764 | 10801 |
| 6.280% due 11/15/2027 | 89 | 89 |
| **Westlake Automobile Receivables Trust** |  |  |
| 3.840% due 01/16/2029 | 1900 | 1896 |
| 4.020% due 09/15/2028 | 2000 | 1998 |
| 4.220% due 06/15/2029 | 18800 | 18805 |
| 4.310% due 04/17/2028 | 18200 | 18210 |
| 4.510% due 05/15/2029 | 2300 | 2307 |
| 4.660% due 09/15/2028 | 1736 | 1739 |
| **World Omni Auto Receivables Trust**<br>5.700% due 02/15/2029 | 2400 | 2426 |
|  |  | 552236 |
| **CMBS OTHER 0.9%** |  |  |
| **Acore Issuer LLC**<br>5.125% due 08/20/2043 •  | 7700 | 7695 |
| **ACREC LLC**<br>5.130% due 01/18/2043 •  | 2900 | 2899 |
| **ACRES Commercial Realty Issuer LLC**<br>0.000% due 08/18/2044 •  | 3300 | 3298 |
| **ACRES LLC**<br>5.299% due 08/18/2040 •  | 2200 | 2208 |
| **AREIT Ltd.**<br>5.790% due 08/17/2041 •  | 148 | 149 |
| **BRSP Ltd.**<br>5.127% due 08/19/2043 •  | 3300 | 3294 |
| **FS Rialto Issuer LLC**<br>0.000% due 01/19/2044 •  | 4600 | 4601 |
| **Greystone CRE Notes LLC**<br>5.154% due 01/15/2043 •  | 50000 | 50020 |
| **GS REFT Issuer Ltd.**<br>5.170% due 04/19/2043 •  | 4000 | 4010 |
| **KREF Ltd.**<br>5.127% due 02/17/2039 •  | 405 | 405 |
| **LMNT CRE LLC**<br>5.225% due 07/21/2043 •  | 3800 | 3802 |
| **LoanCore Issuer Ltd.**<br>5.222% due 01/17/2037 •  | 171 | 171 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **LRECS LLC**<br>5.177% due 08/19/2043 •  | 9600 | 9583 |
| **MF1 LLC** |  |  |
| 5.000% due 02/18/2040 •  | 500 | 499 |
| 5.130% due 02/18/2043 •  | 4400 | 4405 |
| 5.410% due 03/19/2039 •  | 2000 | 2001 |
| **PFP Ltd.** |  |  |
| 5.169% due 12/18/2042 •  | 500 | 500 |
| 5.180% due 08/18/2043 •  | 3300 | 3304 |
| 5.501% due 09/17/2039 •  | 8145 | 8163 |
| **Starwood LLC**<br>5.127% due 11/19/2042 •  | 5100 | 5100 |
|  |  | 116107 |
| **FINANCE CONSUMER LOANS 0.0%** |  |  |
| **SLM Student Loan Trust**<br>2.580% due 07/25/2039 •  | 1011 | 1104 |
| **HOME EQUITY OTHER 3.1%** |  |  |
| **Accredited Mortgage Loan Trust**<br>4.233% due 12/25/2035 •  | $9938 | 9552 |
| **ACE Securities Corp. Home Equity Loan Trust** |  |  |
| 4.313% due 07/25/2036 •  | 8219 | 6937 |
| 6.043% due 08/25/2045 •  | 6874 | 6253 |
| **Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates** |  |  |
| 4.843% due 08/25/2035 •  | 407 | 406 |
| 5.593% due 09/25/2034 •  | 3414 | 2896 |
| **Argent Securities, Inc. Asset-Backed Pass-Through Certificates**<br>4.253% due 01/25/2036 •  | 337 | 328 |
| **Asset-Backed Securities Corp. Home Equity Loan Trust** |  |  |
| 4.753% due 11/25/2035 •  | 5283 | 4717 |
| 5.818% due 05/25/2035 •  | 2778 | 2494 |
| **Bear Stearns Asset-Backed Securities I Trust** |  |  |
| 4.493% due 04/25/2037 •  | 6445 | 6198 |
| 4.738% due 12/25/2035 •  | 20764 | 20516 |
| 5.668% due 03/25/2035 •  | 277 | 277 |
| **BNC Mortgage Loan Trust**<br>5.293% due 11/25/2037 •  | 12673 | 9086 |
| **Chase Funding Trust**<br>4.253% due 12/25/2033 •  | 762 | 749 |
| **CIT Mortgage Loan Trust**<br>5.543% due 10/25/2037 •  | 30849 | 30775 |
| **Citicorp Residential Mortgage Trust**<br>4.360% due 07/25/2036 þ | 7347 | 7113 |
| **Citigroup Mortgage Loan Trust, Inc.**<br>7.581% due 10/25/2036 þ | 1610 | 925 |
| **Countrywide Asset-Backed Certificates**<br>5.968% due 12/25/2034 •  | 3471 | 3279 |
| **Countrywide Asset-Backed Certificates Trust** |  |  |
| 4.212% due 12/25/2034 •  | 759 | 720 |
| 4.273% due 03/25/2047 •  | 6003 | 5773 |
| 4.433% due 09/25/2047 •  | 11010 | 9799 |
| 5.668% due 07/25/2035 •  | 4422 | 4414 |
| **EquiFirst Loan Securitization Trust**<br>4.313% due 04/25/2037 •  | 5000 | 4118 |
| **Fieldstone Mortgage Investment Trust**<br>4.438% due 02/25/2036 •  | 1907 | 1706 |
| **Fremont Home Loan Trust**<br>3.943% due 08/25/2036 •  | 7922 | 3224 |
| **GSAA Home Equity Trust** |  |  |
| 3.893% due 05/25/2037 •  | 7741 | 2725 |
| 5.069% due 09/25/2035 ~ | 390 | 249 |
| 6.158% due 09/25/2035 þ | 2867 | 1829 |
| **GSAMP Trust** |  |  |
| 3.933% due 01/25/2037 •  | 9171 | 5708 |
| 3.973% due 06/25/2036 •  | 785 | 428 |
| 4.288% due 03/25/2046 •  | 2976 | 2818 |
| 4.363% due 02/25/2036 •  | 2325 | 2475 |
| 4.528% due 09/25/2035 •  | 1142 | 1136 |
| 4.888% due 02/25/2035 •  | 4927 | 4809 |
| **HSI Asset Securitization Corp. Trust** |  |  |
| 4.053% due 12/25/2036 •  | 4822 | 1789 |
| 4.073% due 04/25/2037 •  | 17077 | 11023 |
| 4.153% due 04/25/2037 •  | 5654 | 3677 |
| 4.353% due 04/25/2037 •  | 4014 | 2611 |
| **IXIS Real Estate Capital Trust**<br>4.393% due 03/25/2036 •  | 144 | 75 |
| **JP Morgan Mortgage Acquisition Trust**<br>4.113% due 03/25/2037 •  | 1500 | 1385 |
| **Long Beach Mortgage Loan Trust**<br>4.543% due 02/25/2034 •  | 1111 | 1103 |
| **MASTR Asset-Backed Securities Trust**<br>3.893% due 08/25/2036 •  | 6546 | 2222 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **MASTR Specialized Loan Trust**<br>6.193% due 01/25/2036 •  | 5948 | 4206 |
| **Merrill Lynch First Franklin Mortgage Loan Trust** |  |  |
| 4.053% due 06/25/2037 •  | 1316 | 1317 |
| 4.133% due 05/25/2037 •  | 3889 | 2838 |
| 4.293% due 06/25/2037 •  | 242 | 243 |
| **Merrill Lynch Mortgage Investors Trust**<br>4.918% due 06/25/2035 •  | 3487 | 3758 |
| **Morgan Stanley ABS Capital I, Inc. Trust** |  |  |
| 4.413% due 12/25/2035 •  | 213 | 211 |
| 4.693% due 05/25/2034 •  | 5624 | 5495 |
| 4.888% due 01/25/2035 •  | 463 | 466 |
| 6.568% due 08/25/2034 •  | 550 | 482 |
| **New Century Home Equity Loan Trust** |  |  |
| 4.353% due 05/25/2036 •  | 1500 | 1437 |
| 4.678% due 05/25/2034 •  | 1421 | 1494 |
| **Nomura Home Equity Loan, Inc. Home Equity Loan Trust**<br>4.593% due 02/25/2037 •  | 1162 | 308 |
| **NovaStar Mortgage Funding Trust**<br>4.073% due 06/25/2036 •  | 198 | 182 |
| **RCKT Mortgage Trust** |  |  |
| 4.795% due 09/25/2055 þ | 1874 | 1860 |
| 4.827% due 01/25/2056 þ | 1170 | 1162 |
| 4.894% due 11/25/2055 þ | 3869 | 3846 |
| 4.966% due 11/25/2055 þ | 1421 | 1414 |
| 5.158% due 10/25/2044 þ | 5568 | 5565 |
| 5.344% due 09/25/2044 þ | 3170 | 3174 |
| 5.472% due 06/25/2055 þ | 5632 | 5655 |
| 5.553% due 03/25/2055 þ | 19016 | 19136 |
| 5.582% due 12/25/2044 þ | 10826 | 10877 |
| 5.653% due 01/25/2045 þ | 13295 | 13370 |
| 5.846% due 08/25/2044 þ | 4157 | 4182 |
| 6.141% due 04/25/2044 ~ | 2405 | 2421 |
| 6.147% due 06/25/2044 þ | 5916 | 5961 |
| **Renaissance Home Equity Loan Trust** |  |  |
| 5.710% due 04/25/2037 þ | 13614 | 3369 |
| 5.909% due 04/25/2037 þ | 46054 | 11802 |
| **Residential Asset Securities Corporation Trust**<br>5.818% due 03/25/2035 •  | 669 | 633 |
| **Saxon Asset Securities Trust** |  |  |
| 3.893% due 05/25/2047 •  | 277 | 206 |
| 4.033% due 01/25/2047 •  | 5347 | 5162 |
| 4.193% due 09/25/2047 •  | 5946 | 5633 |
| 4.288% due 03/25/2036 •  | 6050 | 4911 |
| 4.593% due 09/25/2047 •  | 10000 | 8129 |
| **Securitized Asset-Backed Receivables LLC Trust** |  |  |
| 4.053% due 01/25/2037 •  | 548 | 529 |
| 4.153% due 02/25/2037 •  | 14309 | 12665 |
| 4.213% due 03/25/2036 •  | 3627 | 3518 |
| 4.213% due 12/25/2036 •  | 3425 | 1699 |
| 4.753% due 10/25/2035 •  | 3151 | 2402 |
| **Soundview Home Loan Trust**<br>4.313% due 02/25/2037 •  | 11052 | 2934 |
| **Structured Asset Investment Loan Trust**<br>4.743% due 10/25/2033 •  | 1336 | 1364 |
| **Structured Asset Securities Corp.**<br>4.887% due 02/25/2035 •  | 825 | 839 |
| **Structured Asset Securities Corp. Mortgage Loan Trust** |  |  |
| 4.198% due 01/25/2037 •  | 13251 | 12651 |
| 4.213% due 02/25/2037 •  | 249 | 246 |
| **Towd Point Mortgage Trust** |  |  |
| 4.720% due 02/25/2066 þ | 888 | 878 |
| 5.091% due 10/25/2065 þ | 1356 | 1350 |
| 5.278% due 08/25/2065 þ | 1048 | 1048 |
| 5.725% due 11/25/2064 þ | 7531 | 7563 |
| 6.125% due 02/25/2064 ~ | 1546 | 1554 |
| **Wells Fargo Home Equity Asset-Backed Securities Trust**<br>4.783% due 04/25/2035 •  | 94 | 94 |
|  |  | 380556 |
| **HOME EQUITY SEQUENTIAL 0.0%** |  |  |
| **JP Morgan Mortgage Acquisition Trust**<br>4.013% due 11/25/2036 •  | 1135 | 1059 |
| **Towd Point Mortgage Trust**<br>4.961% due 01/25/2066 þ | 1172 | 1166 |
|  |  | 2225 |
| **MANUFACTURING HOUSE SEQUENTIAL 0.0%** |  |  |
| **Cascade MH Asset Trust**<br>5.695% due 11/25/2056 ~ | 2208 | 2237 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **WHOLE LOAN COLLATERAL 1.0%** |  |  |
| **Citigroup Mortgage Loan Trust, Inc.**<br>4.193% due 11/25/2046 •  | 298 | 295 |
| **First Franklin Mortgage Loan Trust**<br>5.668% due 07/25/2034 •  | 220 | 222 |
| **Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates**<br>4.558% due 11/25/2035 •  | 3184 | 3073 |
| **Pretium Mortgage Credit Partners LLC** |  |  |
| 4.968% due 02/25/2056 þ | 2573 | 2554 |
| 5.151% due 02/25/2056 þ | 977 | 970 |
| 5.180% due 01/25/2056 þ | 3996 | 3966 |
| 5.184% due 11/25/2055 þ | 4315 | 4289 |
| 5.193% due 10/25/2055 þ | 3165 | 3167 |
| 5.265% due 12/25/2055 þ | 3293 | 3273 |
| 5.342% due 12/25/2055 þ | 4528 | 4515 |
| 5.391% due 08/25/2055 þ | 928 | 930 |
| 5.510% due 04/25/2056 þ | 4300 | 4303 |
| 5.657% due 08/25/2055 þ | 901 | 903 |
| 5.732% due 08/25/2055 þ | 938 | 941 |
| 5.744% due 06/25/2055 þ | 899 | 901 |
| 6.244% due 05/25/2055 þ | 27247 | 27311 |
| 6.368% due 04/25/2055 þ | 26603 | 26648 |
| **RCO X Mortgage LLC**<br>5.418% due 10/25/2030 þ | 2200 | 2196 |
| **Residential Asset Mortgage Products Trust**<br>4.173% due 10/25/2036 •  | 17833 | 17127 |
| **Securitized Asset-Backed Receivables LLC Trust**<br>4.033% due 11/25/2036 •  | 26769 | 7002 |
| **Specialty Underwriting & Residential Finance Trust**<br>4.273% due 09/25/2037 •  | 2230 | 1568 |
| **VCAT LLC** |  |  |
| 5.062% due 02/25/2056 þ | 973 | 969 |
| 5.101% due 01/25/2056 þ | 943 | 939 |
| 5.889% due 02/25/2055 þ | 11551 | 11574 |
|  |  | 129636 |
| **OTHER ABS 15.7%** |  |  |
| **37 Capital CLO 4 Ltd.**<br>4.762% due 04/15/2035 •  | 5200 | 5202 |
| **522 Funding CLO Ltd.**<br>4.871% due 10/23/2034 •  | 7800 | 7811 |
| **AASET MT-1 Ltd.** |  |  |
| 5.243% due 02/16/2050 | 22651 | 22388 |
| 5.522% due 02/16/2050 | 14195 | 14190 |
| **AASET Trust**<br>2.798% due 01/15/2047 | 5395 | 5106 |
| **ACHV ABS Trust** |  |  |
| 4.760% due 04/26/2032 | 1359 | 1362 |
| 5.010% due 12/26/2031 | 241 | 243 |
| 5.040% due 04/26/2032 | 1912 | 1918 |
| 5.070% due 10/27/2031 | 613 | 615 |
| 5.430% due 10/27/2031 | 1259 | 1267 |
| 5.450% due 12/26/2031 | 1632 | 1644 |
| 5.680% due 12/26/2031 | 1387 | 1397 |
| 5.900% due 04/25/2031 | 115 | 116 |
| **Affirm Master Trust** |  |  |
| 4.450% due 10/16/2034 | 1200 | 1196 |
| 4.670% due 07/15/2033 | 1600 | 1605 |
| 4.990% due 02/15/2033 | 30000 | 30193 |
| **AGL CLO 13 Ltd.**<br>4.768% due 10/20/2034 •  | 1000 | 1000 |
| **AMMC CLO 24 Ltd.**<br>4.868% due 01/20/2035 •  | 9100 | 9103 |
| **AMMC CLO 27 Ltd.**<br>4.748% due 01/20/2037 •  | 1600 | 1600 |
| **Anchorage Capital CLO 21 Ltd.**<br>4.718% due 10/20/2034 •  | 20000 | 20008 |
| **Anchorage Capital CLO 28 Ltd.**<br>4.829% due 04/20/2037 •  | 5200 | 5188 |
| **Anchorage Credit Funding 10 Ltd.** |  |  |
| 3.619% due 04/25/2038 | 8987 | 8781 |
| 4.169% due 04/25/2038 | 2000 | 1912 |
| **Anchorage Credit Funding 12 Ltd.**<br>3.177% due 10/25/2038 | 2283 | 2214 |
| **Anchorage Credit Funding 13 Ltd.**<br>2.875% due 07/27/2039 | 2000 | 1917 |
| **Anchorage Credit Funding 14 Ltd.**<br>3.000% due 01/21/2040 | 2000 | 1911 |
| **Anchorage Credit Funding 18 Ltd.** |  |  |
| 5.327% due 10/22/2040 | 2600 | 2578 |
| 5.702% due 10/22/2040 | 500 | 497 |
| **Anchorage Credit Funding 19 Ltd.** |  |  |
| 5.036% due 10/25/2040 | 2700 | 2676 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.336% due 10/25/2040 | 2300 | 2276 |
| **Anchorage Credit Funding 20 Ltd.**<br>4.896% due 04/25/2042 (a) | 4900 | 4900 |
| **Anchorage Credit Funding 3 Ltd.**<br>2.871% due 01/28/2039 | 4000 | 3824 |
| **Anchorage Credit Funding 4 Ltd.**<br>2.723% due 04/27/2039 | 2000 | 1909 |
| **Anchorage Credit Funding 9 Ltd.**<br>3.793% due 10/25/2037 | 9169 | 9044 |
| **Apidos CLO XI**<br>4.908% due 04/17/2034 •  | 22200 | 22229 |
| **Aqua Finance Issuer Trust** |  |  |
| 4.760% due 04/17/2051 | 1000 | 996 |
| 4.790% due 05/17/2051 | 698 | 702 |
| **Arbour CLO XIII DAC**<br>3.154% due 08/15/2038 •  | 4000 | 4609 |
| **Arcano Euro CLO II DAC** |  |  |
| 3.280% due 07/25/2039 •  | 2400 | 2774 |
| 4.080% due 07/25/2039 •  | 3000 | 3471 |
| **ARES LXII CLO Ltd.** |  |  |
| 4.738% due 01/25/2034 •  | $3000 | 3001 |
| 5.068% due 01/25/2034 •  | 5300 | 5302 |
| **ARES LXV CLO Ltd.** |  |  |
| 4.788% due 07/25/2034 •  | 23200 | 23206 |
| 5.168% due 07/25/2034 •  | 500 | 500 |
| **ARES XLIV CLO Ltd.**<br>4.802% due 04/15/2034 •  | 2700 | 2703 |
| **ARES XXVII CLO Ltd.**<br>4.821% due 10/28/2034 •  | 2500 | 2503 |
| **Ascent Education Funding Trust**<br>6.140% due 10/25/2050 | 1433 | 1463 |
| **Atlas Senior Loan Fund XVI Ltd.**<br>4.768% due 01/20/2034 •  | 2100 | 2101 |
| **Atlas Senior Loan Fund XVII Ltd.**<br>4.728% due 10/20/2034 •  | 2100 | 2100 |
| **Bain Capital Credit CLO Ltd.** |  |  |
| 4.700% due 10/21/2034 •  | 18200 | 18200 |
| 4.728% due 07/24/2034 •  | 10000 | 10007 |
| 4.819% due 04/22/2035 •  | 1900 | 1900 |
| 4.821% due 10/23/2034 •  | 6000 | 6007 |
| 4.830% due 07/17/2035 •  | 1300 | 1300 |
| **Bain Capital Euro CLO DAC**<br>3.277% due 01/22/2038 •  | 3900 | 4506 |
| **Barings Euro CLO DAC**<br>3.426% due 08/15/2039 •  | 3500 | 4038 |
| **Bayfront Iabs VII Pte. Ltd.**<br>0.000% due 04/11/2048 «•  | $3200 | 3200 |
| **Beechwood Park CLO Ltd.**<br>4.738% due 01/17/2035 •  | 6000 | 6001 |
| **Benefit Street Partners CLO XXII Ltd.**<br>4.818% due 04/20/2035 •  | 1400 | 1400 |
| **BHG Securitization Trust** |  |  |
| 2.240% due 10/17/2034 | 1410 | 1375 |
| 4.820% due 04/17/2036 | 5954 | 5970 |
| 4.840% due 09/17/2036 | 789 | 791 |
| 5.170% due 09/17/2036 | 12300 | 12353 |
| 5.260% due 04/17/2036 | 10035 | 10099 |
| 6.920% due 12/17/2036 | 98 | 102 |
| **Blackbird Capital II Aircraft Lease Ltd.**<br>2.443% due 07/15/2046 | 1474 | 1399 |
| **BlueMountain CLO XXXII Ltd.**<br>4.772% due 10/15/2034 •  | 5150 | 5152 |
| **BlueMountain CLO XXXIV Ltd.**<br>4.818% due 04/20/2035 •  | 2900 | 2901 |
| **Bosphorus CLO IX DAC**<br>0.000% due 04/15/2038 •(a) | 3600 | 4161 |
| **Boyce Park CLO Ltd.**<br>4.668% due 04/21/2035 •  | $6100 | 6102 |
| **Broad River Bsl Funding CLO Ltd.**<br>5.099% due 07/20/2034 •  | 3750 | 3755 |
| **Buckhorn Park CLO Ltd.**<br>4.738% due 07/18/2034 •  | 1800 | 1802 |
| **Canyon Capital CLO Ltd.**<br>4.682% due 10/15/2034 •  | 20000 | 19971 |
| **Canyon CLO Ltd.** |  |  |
| 4.752% due 07/15/2034 •  | 5200 | 5205 |
| 4.772% due 10/15/2034 •  | 1000 | 1000 |
| **Capital Four CLO X DAC**<br>3.279% due 10/25/2038 •  | 2100 | 2423 |
| **Capital Four U.S. CLO I Ltd.** |  |  |
| 4.805% due 01/18/2035 •  | $3600 | 3595 |
| 5.265% due 01/18/2035 •  | 14000 | 13860 |
| **Capital Street Master Trust** |  |  |
| 4.772% due 08/16/2029 •  | 1000 | 999 |
| 5.022% due 10/16/2028 •  | 8000 | 8006 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Carlyle U.S. CLO Ltd.** |  |  |
| 4.748% due 01/25/2035 •  | 500 | 499 |
| 4.778% due 10/20/2034 •  | 750 | 750 |
| **CarVal CLO III Ltd.**<br>4.658% due 07/20/2032 •  | 16884 | 16873 |
| **Castlelake Aircraft Structured Trust** |  |  |
| 5.073% due 03/15/2051 | 27800 | 27344 |
| 5.087% due 11/15/2050 | 19571 | 19353 |
| 5.465% due 08/15/2050 | 1145 | 1147 |
| 5.783% due 02/15/2050 | 12699 | 12805 |
| **Cedar Funding VI CLO Ltd.**<br>4.758% due 04/20/2034 •  | 1900 | 1901 |
| **CFIP CLO Ltd.**<br>5.149% due 01/20/2035 •  | 13500 | 13508 |
| **CIFC Funding Ltd.**<br>4.880% due 10/24/2030 •  | 17 | 17 |
| **College Avenue Student Loans LLC** |  |  |
| 4.893% due 07/25/2051 •  | 1885 | 1883 |
| 5.193% due 12/28/2048 •  | 1094 | 1098 |
| 5.562% due 05/25/2055 •  | 2299 | 2341 |
| **DLLMT LLC**<br>4.030% due 07/20/2028 | 500 | 500 |
| **Dryden 43 Senior Loan Fund**<br>4.738% due 04/20/2034 •  | 21920 | 21939 |
| **Dryden 86 CLO Ltd.**<br>4.798% due 07/17/2034 •  | 500 | 501 |
| **Dryden 95 CLO Ltd.**<br>4.696% due 08/20/2034 •  | 48500 | 48511 |
| **ECMC Group Student Loan Trust**<br>4.926% due 11/25/2069 •  | 795 | 801 |
| **Elevation CLO Ltd.** |  |  |
| 4.798% due 07/25/2034 •  | 24200 | 24225 |
| 4.968% due 01/25/2035 •  | 18000 | 18010 |
| 5.268% due 01/25/2035 •  | 2300 | 2302 |
| **Elmwood CLO 15 Ltd.**<br>4.819% due 04/22/2035 •  | 600 | 600 |
| **Fortress Credit BSL VII Ltd.**<br>4.761% due 07/23/2032 •  | 2024 | 2026 |
| **Fortress Credit BSL X Ltd.**<br>4.768% due 04/20/2033 •  | 782 | 783 |
| **Fortress Credit BSL XVI Ltd.**<br>5.038% due 10/20/2035 •  | 9000 | 9010 |
| **Fortress Credit BSL XX Ltd.**<br>4.911% due 01/23/2037 •  | 2100 | 2101 |
| **Foundation Finance Trust**<br>4.670% due 04/15/2052 | 356 | 355 |
| **Galaxy XXII CLO Ltd.**<br>4.683% due 04/16/2034 •  | 900 | 900 |
| **GoldenTree Loan Management U.S. CLO 8 Ltd.**<br>4.818% due 10/20/2034 •  | 5000 | 5006 |
| **Golub Capital Partners CLO 50B-R Ltd.** |  |  |
| 4.778% due 04/20/2035 •  | 2000 | 2001 |
| 5.068% due 04/20/2035 •  | 900 | 900 |
| 5.168% due 04/20/2035 •  | 3800 | 3773 |
| **Golub Capital Partners Static Ltd.**<br>4.788% due 07/20/2035 •  | 8052 | 8059 |
| **GreenSky Home Improvement Issuer Trust** |  |  |
| 4.340% due 12/27/2060 | 557 | 558 |
| 4.890% due 06/25/2060 | 343 | 343 |
| 4.930% due 06/25/2060 | 239 | 240 |
| 5.020% due 06/25/2060 | 500 | 506 |
| 5.120% due 03/25/2060 | 3115 | 3123 |
| 5.150% due 10/27/2059 | 2709 | 2734 |
| 5.220% due 03/25/2060 | 4898 | 4930 |
| 5.250% due 10/27/2059 | 198 | 199 |
| 5.260% due 10/27/2059 | 344 | 346 |
| 5.320% due 03/25/2060 | 13200 | 13425 |
| 5.550% due 06/25/2059 | 1100 | 1119 |
| 5.550% due 10/27/2059 | 344 | 346 |
| 5.870% due 06/25/2059 | 1493 | 1513 |
| 6.360% due 06/25/2059 | 1493 | 1520 |
| 6.430% due 10/27/2059 | 344 | 348 |
| **Greywolf CLO III Ltd.**<br>4.899% due 04/22/2033 •  | 13638 | 13651 |
| **Greywolf CLO IV Ltd.**<br>4.908% due 04/17/2034 •  | 1300 | 1302 |
| **Grosvenor Place CLO DAC** |  |  |
| 3.383% due 08/15/2039 •  | 3800 | 4392 |
| 4.208% due 08/15/2039 •  | 6500 | 7543 |
| **Guggenheim CLO Ltd.**<br>4.822% due 01/15/2035 •  | $800 | 800 |
| **Harvest U.S. CLO Ltd.**<br>4.822% due 01/15/2037 •  | 5300 | 5296 |
| **ICG Euro CLO DAC** |  |  |
| 3.320% (EUR003M + 1.290%) due 01/26/2038 ~ | 4000 | 4622 |
| 6.580% due 01/26/2038 | 1000 | 1142 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **ICG U.S. CLO Ltd.**<br>4.661% due 01/16/2033 •  | $5647 | 5651 |
| **IFC Emerging Markets Securitization Ltd.**<br>4.971% due 12/31/2035 •  | 2197 | 2199 |
| **Invesco CLO Ltd.** |  |  |
| 4.772% due 07/15/2034 •  | 15000 | 15008 |
| 4.818% due 07/20/2035 •  | 1700 | 1701 |
| **Invesco Euro CLO XII DAC**<br>3.277% due 07/15/2037 •  | 4100 | 4726 |
| **KKR CLO 16 Ltd.**<br>4.808% due 10/20/2034 •  | $4800 | 4805 |
| **KKR CLO 18 Ltd.**<br>4.718% due 10/18/2035 •  | 3884 | 3882 |
| **KKR CLO 27 Ltd.**<br>4.782% due 01/15/2035 •  | 1200 | 1200 |
| **KKR CLO 33 Ltd.**<br>4.748% due 07/20/2034 •  | 900 | 901 |
| **KKR CLO 36 Ltd.**<br>4.822% due 10/15/2034 •  | 2600 | 2603 |
| **KKR CLO 42 Ltd.**<br>4.818% due 07/20/2034 •  | 2100 | 2103 |
| **LCM 34 Ltd.**<br>4.848% due 10/20/2034 •  | 250 | 250 |
| **LCM 36 Ltd.**<br>4.742% due 01/15/2034 •  | 2000 | 2001 |
| **LCM 39 Ltd.**<br>4.703% due 10/15/2034 •  | 1100 | 1100 |
| **Lendmark Funding Trust**<br>5.530% due 06/21/2032 | 3100 | 3125 |
| **Madison Park Funding XLVI Ltd.**<br>4.672% due 10/15/2034 •  | 30000 | 29980 |
| **Madison Park Funding XXXIV Ltd.**<br>5.041% due 10/16/2037 •  | 15300 | 15312 |
| **Madison Park Funding XXXVI Ltd.**<br>4.732% due 04/15/2035 •  | 1000 | 1000 |
| **Magnetite XXXII Ltd.**<br>4.822% due 10/15/2037 •  | 20000 | 19995 |
| **Marble Point CLO XXII Ltd.**<br>4.888% due 07/25/2034 •  | 1800 | 1799 |
| **Marble Point CLO XXIV Ltd.**<br>4.753% due 04/20/2035 •  | 4700 | 4701 |
| **MAST Ltd.**<br>5.134% due 02/15/2051 | 22167 | 21836 |
| **Mountain View CLO LLC**<br>4.547% due 04/14/2033 •  | 1000 | 999 |
| **Navesink CLO 2 Ltd.**<br>4.862% due 01/15/2036 •  | 2100 | 2100 |
| **Navesink CLO 6 Ltd.**<br>0.000% due 04/15/2037 •  | 5400 | 5400 |
| **Navient Education Loan Trust** |  |  |
| 5.020% due 07/15/2055 | 2605 | 2612 |
| 5.320% due 07/15/2055 | 4200 | 4223 |
| **Navient Private Education Refi Loan Trust**<br>4.837% due 12/15/2059 •  | 839 | 840 |
| **Navient Student Loan Trust**<br>4.676% due 08/26/2069 •  | 753 | 752 |
| **Nelnet Student Loan Trust** |  |  |
| 4.610% due 02/21/2061 | 20716 | 20465 |
| 4.650% due 08/20/2054 | 9655 | 9543 |
| 4.670% due 06/22/2065 | 7910 | 7831 |
| 4.840% due 05/17/2055 | 3701 | 3687 |
| 4.973% due 02/21/2061 •  | 6426 | 6460 |
| 5.022% due 05/17/2055 •  | 3524 | 3547 |
| 5.023% due 06/22/2065 •  | 6009 | 6059 |
| 5.873% due 02/20/2041 •  | 212 | 216 |
| 6.640% due 02/20/2041 | 212 | 219 |
| **Neuberger Berman CLO XXI Ltd.**<br>4.988% due 01/20/2039 •  | 10000 | 9970 |
| **Neuberger Berman Loan Advisers CLO 43 Ltd.**<br>4.718% due 07/17/2036 •  | 21000 | 21011 |
| **Neuberger Berman Loan Advisers CLO 45 Ltd.**<br>4.727% due 10/14/2036 •  | 21300 | 21314 |
| **Neuberger Berman Loan Advisers Lasalle Street Lending CLO I Ltd.** |  |  |
| 4.918% due 10/25/2036 •  | 2200 | 2200 |
| 5.218% due 10/25/2036 •  | 10000 | 9998 |
| **New Mountain CLO 5 Ltd.**<br>4.918% due 07/20/2036 •  | 8000 | 8001 |
| **Northwoods Capital 25 Ltd.**<br>4.788% due 07/20/2034 •  | 1900 | 1902 |
| **OCP Euro CLO DAC**<br>3.266% due 07/20/2036 •  | 2900 | 3350 |
| **Octagon 64 Ltd.**<br>4.930% due 07/21/2035 •  | $40000 | 40017 |
| **Octagon Investment Partners 40 Ltd.**<br>4.708% due 01/20/2035 •  | 10600 | 10603 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Octagon Investment Partners 41 Ltd.**<br>4.762% due 10/15/2033 •  | 15000 | 15009 |
| **Octagon Investment Partners 45 Ltd.**<br>4.822% due 04/15/2035 •  | 5700 | 5701 |
| **OFSI BSL X Ltd.**<br>4.938% due 04/20/2034 •  | 16300 | 16321 |
| **Oportun Funding Trust** |  |  |
| 4.960% due 08/16/2032 | 1495 | 1495 |
| 5.240% due 08/16/2032 | 7900 | 7911 |
| 5.780% due 08/16/2032 | 2000 | 2005 |
| **OZLM XV Ltd.**<br>4.718% due 04/20/2033 •  | 32317 | 32323 |
| **Pagaya AI Debt Grantor Trust** |  |  |
| 0.000% due 04/15/2032 «~ | 1230 | 486 |
| 4.497% due 04/15/2033 | 1600 | 1595 |
| 4.684% due 08/17/2026 | 218 | 218 |
| 4.865% due 10/15/2032 | 802 | 803 |
| 4.883% due 04/15/2033 | 18698 | 18569 |
| 4.961% due 10/15/2032 | 3122 | 3125 |
| 5.065% due 03/15/2032 | 1216 | 1218 |
| 5.092% due 07/15/2032 | 3275 | 3286 |
| 5.108% due 03/15/2033 | 500 | 501 |
| 5.156% due 07/15/2032 | 3701 | 3707 |
| 5.183% due 06/15/2032 | 2104 | 2110 |
| 5.329% due 10/15/2032 | 28897 | 28920 |
| 5.331% due 01/15/2032 | 1015 | 1018 |
| 5.440% due 03/15/2033 | 19999 | 20040 |
| 5.617% due 04/15/2032 « | 531 | 531 |
| 5.628% due 07/15/2032 | 9265 | 9284 |
| 5.637% due 07/15/2032 | 1602 | 1612 |
| 5.639% due 10/15/2032 | 16098 | 16132 |
| 5.640% due 03/15/2033 | 2400 | 2409 |
| 5.750% due 06/15/2032 | 2710 | 2721 |
| 5.823% due 04/15/2032 « | 789 | 790 |
| 5.867% due 07/15/2032 | 4222 | 4232 |
| 5.992% due 06/15/2032 | 891 | 895 |
| 6.261% due 04/15/2032 « | 829 | 829 |
| 6.278% due 10/15/2031 | 522 | 523 |
| 10.273% due 04/15/2032 « | 1019 | 994 |
| **Pagaya AI Debt Grantor Trust & Pagaya AI Debt Trust**<br>6.093% due 11/15/2031 | 507 | 508 |
| **Pagaya AI Debt Selection Trust**<br>6.117% due 12/15/2031 | 789 | 792 |
| **Pagaya AI Debt Trust** |  |  |
| 5.373% due 01/17/2033 | 2294 | 2305 |
| 6.258% due 10/15/2031 | 731 | 732 |
| **Pagaya Point of Sale Holdings Grantor Trust**<br>5.715% due 01/20/2034 | 8600 | 8632 |
| **Palmer Square Loan Funding Ltd.** |  |  |
| 4.480% due 08/08/2032 •  | 3700 | 3699 |
| 4.480% due 10/15/2032 •  | 1000 | 1000 |
| 4.489% due 01/15/2033 •  | 4700 | 4695 |
| 4.660% due 01/15/2034 •  | 1400 | 1401 |
| **PEAC Solutions Receivables LLC**<br>4.940% due 10/20/2028 | 14460 | 14531 |
| **Pikes Peak CLO 2**<br>4.888% due 10/11/2034 •  | 18000 | 18025 |
| **Pikes Peak CLO 4**<br>4.882% due 07/15/2034 •  | 18000 | 18024 |
| **Pikes Peak CLO 6**<br>4.595% due 05/18/2034 •  | 21450 | 21437 |
| **PK ALIFT Loan Funding 4 LP**<br>5.052% due 10/15/2039 | 5231 | 5249 |
| **PK ALIFT Loan Funding 6 LP**<br>5.365% due 11/15/2042 | 17697 | 17849 |
| **PK ALIFT Loan Funding 7 LP**<br>4.750% due 03/15/2043 | 4057 | 4043 |
| **Post CLO Ltd.** |  |  |
| 4.752% due 10/15/2034 •  | 500 | 501 |
| 4.762% due 04/20/2035 •  | 3600 | 3601 |
| **PPM CLO 5 Ltd.**<br>4.848% due 10/18/2034 •  | 2500 | 2503 |
| **RCKT Trust** |  |  |
| 4.480% due 11/27/2034 | 322 | 322 |
| 4.900% due 07/25/2034 | 210 | 210 |
| **Reach ABS Trust** |  |  |
| 4.320% due 02/15/2033 | 1242 | 1242 |
| 4.370% due 02/15/2033 | 22200 | 22126 |
| 4.930% due 08/18/2032 | 825 | 829 |
| 4.960% due 08/16/2032 | 3112 | 3118 |
| 5.120% due 08/18/2032 | 4300 | 4309 |
| 5.340% due 08/16/2032 | 4600 | 4637 |
| 5.840% due 07/15/2031 | 5000 | 5046 |
| 5.880% due 07/15/2031 | 311 | 311 |
| 5.990% due 08/16/2032 | 1200 | 1215 |
| 6.290% due 02/18/2031 | 581 | 585 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Rockford Tower CLO Ltd.** |  |  |
| 4.798% due 07/20/2034 •  | 600 | 601 |
| 4.868% due 07/20/2035 •  | 1500 | 1501 |
| **Romark CLO - IV Ltd.**<br>4.790% due 07/10/2034 •  | 1800 | 1802 |
| **Romark CLO V Ltd.**<br>4.862% due 01/15/2035 •  | 1900 | 1899 |
| **Romark Credit Funding II Ltd.**<br>2.625% due 10/25/2039 | 1000 | 952 |
| **Romark Credit Funding III Ltd.**<br>5.539% due 09/15/2042 | 3400 | 3405 |
| **Romark Credit Funding Ltd.**<br>5.423% due 07/29/2043 | 1800 | 1810 |
| **Sandstone Peak Ltd.** |  |  |
| 4.842% due 04/15/2038 •  | 4900 | 4888 |
| 5.320% due 04/15/2038 •  | 9750 | 9774 |
| **Sculptor CLO XXVII Ltd.**<br>4.809% due 04/20/2037 •  | 4400 | 4396 |
| **Shackleton CLO Ltd.**<br>4.868% due 07/20/2034 •  | 1300 | 1302 |
| **Silver Rock CLO II Ltd.**<br>4.708% due 01/20/2035 •  | 500 | 500 |
| **Sixth Street CLO VIII Ltd.**<br>4.818% due 10/20/2034 •  | 12000 | 12015 |
| **Slam Ltd.**<br>5.807% due 05/15/2050 | 23755 | 24069 |
| **SLM Student Loan Trust**<br>2.430% due 10/25/2039 •  | 1027 | 1107 |
| **SMB Private Education Loan Trust** |  |  |
| 0.010% due 11/16/2054 | $3 | 15 |
| 1.340% due 03/17/2053 | 5871 | 5563 |
| 2.300% due 01/15/2053 | 1652 | 1613 |
| 4.772% due 06/17/2052 •  | 1206 | 1205 |
| 4.772% due 07/15/2053 •  | 3911 | 3909 |
| 4.850% due 03/11/2054 « | 46217 | 45938 |
| 4.872% due 03/17/2053 •  | 455 | 458 |
| 4.872% due 03/11/2054 « | 6302 | 6302 |
| 5.020% due 03/17/2053 | 1458 | 1460 |
| 5.022% due 10/16/2056 •  | 2248 | 2269 |
| 5.030% due 03/15/2056 (a) | 25350 | 25381 |
| 5.060% due 03/16/2054 | 11395 | 11479 |
| 5.090% due 10/16/2056 | 1783 | 1797 |
| 5.122% due 03/15/2056 •  | 1187 | 1199 |
| 5.130% due 04/15/2054 | 28074 | 28302 |
| 5.240% due 03/15/2056 | 1432 | 1446 |
| 5.380% due 01/15/2053 | 830 | 839 |
| 5.380% due 07/15/2053 | 4380 | 4448 |
| 5.472% due 10/16/2056 •  | 3179 | 3246 |
| 5.500% due 06/17/2052 | 5548 | 5662 |
| 5.530% due 03/11/2054 « | 2779 | 2757 |
| 5.880% due 03/11/2054 « | 556 | 551 |
| 6.270% due 03/11/2054 « | 4446 | 4409 |
| **SoFi Consumer Loan Program Trust** |  |  |
| 4.240% due 08/25/2035 | 1022 | 1021 |
| 4.800% due 02/27/2034 | 5056 | 5068 |
| 4.820% due 06/25/2034 | 1611 | 1617 |
| **Sound Point CLO VII-R Ltd.**<br>5.003% due 10/23/2031 •  | 411 | 412 |
| **Sound Point CLO XXVII Ltd.**<br>5.110% due 10/25/2034 •  | 6000 | 6008 |
| **Sound Point CLO XXVIII Ltd.**<br>4.948% due 01/25/2032 •  | 597 | 597 |
| **Stream Innovations Issuer Trust**<br>6.270% due 07/15/2044 | 1396 | 1439 |
| **Sunbit Asset Securitization Trust**<br>5.360% due 07/15/2030 | 600 | 601 |
| **Switch ABS Issuer LLC**<br>5.121% due 10/25/2055 | 12900 | 12621 |
| **Sycamore Tree CLO Ltd.**<br>0.000% due 01/20/2037 •  | 4800 | 4797 |
| **Symphony CLO 43 Ltd.**<br>5.192% due 04/15/2037 •  | 2000 | 2005 |
| **Symphony CLO 52 Ltd.**<br>4.815% due 01/20/2036 •  | 3100 | 3100 |
| **Symphony CLO XXIV Ltd.**<br>4.801% due 10/23/2035 •  | 1100 | 1099 |
| **Symphony CLO XXIX Ltd.**<br>4.822% due 10/15/2035 •  | 3500 | 3496 |
| **Symphony CLO XXV Ltd.**<br>4.718% due 04/19/2034 •  | 3000 | 3002 |
| **TCI-Symphony CLO Ltd.**<br>4.933% due 10/13/2032 •  | 117 | 117 |
| **TCW CLO AMR Ltd.**<br>4.954% due 08/16/2034 •  | 7100 | 7109 |
| **Thayer Park CLO Ltd.**<br>4.668% due 04/20/2034 •  | 1200 | 1200 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **THL Credit Wind River CLO Ltd.**<br>4.872% due 04/15/2035 •  | 2900 | 2904 |
| **Thompson Park CLO Ltd.**<br>4.722% due 04/15/2034 •  | 1000 | 1001 |
| **Trimaran CAVU Ltd.**<br>4.667% due 10/25/2034 •  | 3700 | 3699 |
| **Trinitas CLO VI Ltd.**<br>4.778% due 01/25/2034 •  | 2000 | 2002 |
| **Trinitas CLO VII Ltd.**<br>4.728% due 01/25/2035 •  | 8425 | 8428 |
| **Trinitas CLO XIV Ltd.**<br>4.768% due 01/25/2034 •  | 3000 | 3002 |
| **Trinitas CLO XIX Ltd.**<br>4.778% due 10/20/2033 •  | 17315 | 17316 |
| **Trinitas CLO XVI Ltd.**<br>4.798% due 07/20/2034 •  | 19500 | 19520 |
| **Trinitas CLO XVII Ltd.**<br>4.818% due 10/20/2034 •  | 2800 | 2803 |
| **Trinitas CLO XX Ltd.**<br>4.708% due 07/20/2035 •  | 21000 | 21004 |
| **Unity-Peace Park CLO Ltd.**<br>4.723% due 04/20/2035 •  | 5700 | 5702 |
| **UPG HI Issuer Trust**<br>5.000% due 09/25/2047 | 16172 | 16089 |
| **Upstart Pass-Through Trust**<br>7.900% due 10/20/2028 | 224 | 225 |
| **Upstart Securitization Trust** |  |  |
| 4.600% due 09/20/2035 | 529 | 529 |
| 5.020% due 09/20/2035 | 500 | 501 |
| 5.200% due 11/20/2035 | 1625 | 1630 |
| 5.220% due 06/20/2035 | 4076 | 4089 |
| **Valerie Asset Ltd.** |  |  |
| 5.219% due 09/15/2050 «(i) | 50104 | 49038 |
| 5.267% due 09/15/2050 «(i) | 6807 | 6088 |
| **VB-S1 Issuer LLC**<br>4.693% due 03/15/2056 | 6500 | 6395 |
| **Venture 44 CLO Ltd.**<br>4.808% due 10/20/2034 •  | 1000 | 1001 |
| **Vibrant CLO XII Ltd.**<br>4.818% due 04/20/2034 •  | 1900 | 1902 |
| **Voya CLO Ltd.**<br>4.868% due 07/20/2032 •  | 303 | 303 |
| **Wellfleet CLO Ltd.** |  |  |
| 4.822% due 07/15/2034 •  | 1200 | 1201 |
| 4.848% due 04/20/2034 •  | 4300 | 4305 |
| **Wind River CLO Ltd.** |  |  |
| 4.732% due 10/15/2034 •  | 21484 | 21497 |
| 4.778% due 07/20/2034 •  | 2100 | 2101 |
|  |  | 1964491 |
| Total Asset-Backed Securities (Cost $3,554,844) |  | 3559771 |
| **SOVEREIGN ISSUES 7.2%** |  |  |
| **Angola Government International Bonds**<br>8.000% due 11/26/2029 | 9200 | 9110 |
| **Avenir Issuer IV Ireland DAC**<br>6.000% due 10/25/2027 | 2291 | 2220 |
| **Baiterek National Investment Holding JSC** |  |  |
| 16.950% due 04/02/2029 «(a) | 2700000 | 5607 |
| 16.950% due 04/02/2031 «(a) | 3300000 | 6927 |
| **Brazil Letras do Tesouro Nacional** |  |  |
| 0.000% due 04/01/2026 (d) | 4800 | 926 |
| 0.000% due 07/01/2026 (d) | 344300 | 64371 |
| 0.000% due 10/01/2026 (d) | 175300 | 31705 |
| **Colombia TES** |  |  |
| 2.250% due 04/18/2029 (f) | 2650471 | 626 |
| 3.000% due 03/25/2033 (f) | 6808549 | 1436 |
| 6.500% due 01/22/2031 (f) | 11726511 | 3061 |
| 7.000% due 03/26/2031 | 14020000 | 2935 |
| 11.000% due 08/22/2029 | 72417000 | 18259 |
| 11.500% due 07/25/2046 | 22048800 | 5319 |
| 11.750% due 01/24/2035 | 210611700 | 52218 |
| 12.000% due 03/13/2058 | 3650000 | 897 |
| 12.750% due 11/28/2040 | 103197000 | 27352 |
| 13.250% due 02/09/2033 | 194437900 | 52131 |
| **Costa Rica Government International Bonds**<br>6.001% due 01/16/2036 | 17000 | 20250 |
| **Development Bank of Kazakhstan JSC**<br>18.400% due 10/16/2028 | 2228000 | 4790 |
| **Eagle Funding Luxco SARL**<br>5.500% due 08/17/2030 | $26630 | 26803 |
| **Ecuador Government International Bonds** |  |  |
| 6.900% due 07/31/2030 þ | 8820 | 8602 |
| 8.750% due 01/29/2034 | 8000 | 7872 |
| 9.250% due 01/29/2039 | 7800 | 7669 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Egypt Government Bonds**<br>19.698% due 10/14/2030 | 198000 | 3567 |
| **Egypt Government International Bonds** |  |  |
| 6.375% due 04/11/2031 | 4850 | 5277 |
| 9.450% due 02/04/2033 | $9100 | 9582 |
| **El Salvador Government International Bonds** |  |  |
| 7.625% due 02/01/2041 | 725 | 681 |
| 9.250% due 04/17/2030 | 800 | 833 |
| **Ivory Coast Government International Bonds** |  |  |
| 4.875% due 01/30/2032 | 17550 | 18921 |
| 6.625% due 03/22/2048 | 10100 | 10083 |
| **Mexico Bonos**<br>7.000% due 09/03/2026 | 1156000 | 64530 |
| **Mexico Government International Bonds** |  |  |
| 5.850% due 07/02/2032 | $1700 | 1708 |
| 6.625% due 01/29/2038 | 1600 | 1634 |
| **Mexico Udibonos**<br>4.000% due 11/30/2028 (f) | 5623 | 311 |
| **Panama Government International Bonds** |  |  |
| 5.227% due 02/23/2034 | $200 | 193 |
| 5.662% due 02/23/2038 | 200 | 192 |
| 8.000% due 03/01/2038 | 3736 | 4287 |
| **Peru Government Bonds**<br>6.150% due 08/12/2032 | 4100 | 1232 |
| **Peru Government International Bonds** |  |  |
| 6.150% due 08/12/2032 | 418010 | 125621 |
| 6.900% due 08/12/2037 | 7300 | 2086 |
| **Provincia de Buenos Aires/Government Bonds**<br>6.625% due 09/01/2037 þ | $16343 | 12359 |
| **Republic of Cameroon International Bonds**<br>8.875% due 01/30/2033 | 21775 | 20613 |
| **Republic of Kenya Government International Bonds** |  |  |
| 7.875% due 02/26/2034 | 6000 | 5462 |
| 8.800% due 10/09/2038 | 5525 | 5089 |
| **Republic of South Africa Government Bonds** |  |  |
| 7.000% due 02/28/2031 | 579600 | 32103 |
| 8.000% due 01/31/2030 | 83750 | 4896 |
| 8.500% due 01/31/2037 | 1919375 | 106021 |
| 8.875% due 02/28/2035 | 103400 | 6006 |
| 9.000% due 01/31/2040 | 27100 | 1507 |
| 10.500% due 12/21/2026 | 139500 | 8422 |
| **Romania Government International Bonds** |  |  |
| 5.125% due 09/24/2031 | 2000 | 2296 |
| 5.250% due 03/10/2030 | 2200 | 2581 |
| 5.250% due 05/30/2032 | 9025 | 10304 |
| 5.375% due 06/07/2033 | 14650 | 16504 |
| **Saudi Government International Bonds**<br>4.125% due 01/12/2029 | $35600 | 35145 |
| **Senegal Government International Bonds**<br>7.750% due 06/10/2031 | 9000 | 5209 |
| **Turkiye Government Bonds** |  |  |
| 36.000% due 08/12/2026 | 324500 | 7184 |
| 39.740% (BISTREFI) due 05/20/2026 ~ | 31100 | 700 |
| 39.740% (BISTREFI) due 05/17/2028 ~ | 59300 | 1330 |
| 40.299% (BISTREFI) due 09/06/2028 ~ | 100000 | 2241 |
| Total Sovereign Issues (Cost $892,333) |  | 897796 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 27.0%** |  |  |
| **MUTUAL FUNDS 0.2%** |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720%(h) | 23651669 | 23652 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **REPURCHASE AGREEMENTS (j) 26.4%** |  | 3317700 |
| **EGYPT TREASURY BILLS 0.0%** |  |  |
| 24.060% due 10/20/2026 (d)(e) | 3200 | 51 |
| **NIGERIA TREASURY BILLS 0.2%** |  |  |
| 27.000% due 06/11/2026 - 01/28/2027 (c)(d)(e) | 27868518 | 18686 |
| **SOUTH AFRICA TREASURY BILLS 0.1%** |  |  |
| 7.348% due 05/06/2026 - 08/19/2026 (c)(d)(e) | 315600 | 18378 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **U.S. TREASURY BILLS 0.1%** |  |  |
| 3.689% due 04/02/2026 - 07/21/2026 (c)(d)(m)(o) | $18715 | 18601 |
| Total Short-Term Instruments (Cost $3,395,450) |  | 3397068 |
| Total Investments in Securities (Cost $18,514,316) |  | 18514365 |
| Total Investments 147.6% (Cost $18,514,316) |  | $18514365 |
| **Financial Derivative Instruments** **(l)(n)** **0.4**%(Cost or Premiums, net $155,300) |  | 46760 |
| Other Assets and Liabilities, net (48.0)% |  | (6016412) |
| Net Assets 100.0% |  | $12544713 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 4 | 8 | 15 | 25 | 46 | 53 | 72 | 73 | 122 | 133 | 154 | 178 | 194 | 201 |
| **NOTES 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)** | **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.** |
| **(b)** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind 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.** |
| **(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 | Issuer Description | Issuer Description | Issuer Description | Coupon | Maturity<br>Date | Maturity<br>Date | Acquisition<br>Date | Cost | Cost | Market<br>Value | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
| Alfa-Bank CJSC | Alfa-Bank CJSC | Alfa-Bank CJSC | Alfa-Bank CJSC | Alfa-Bank CJSC | Alfa-Bank CJSC | 5.860 | 10/21/2026 | 10/21/2026 | 10/27/2025 | 431 | 431 | 431 | 431 | 0.00 |
| CORPIJ944 | CORPIJ944 | CORPIJ944 | CORPIJ944 | CORPIJ944 | CORPIJ944 | 4.920 | 03/15/2031 | 03/15/2031 | 25/02/2026 | 4700 | 4700 | 4614 | 4614 | 0.04 |
| Credit Opportunities Partners LLC | Credit Opportunities Partners LLC | Credit Opportunities Partners LLC | Credit Opportunities Partners LLC | Credit Opportunities Partners LLC | Credit Opportunities Partners LLC | 6.520 | 03/20/2028 | 03/20/2028 | 03/20/2025 | 8000 | 8000 | 7934 | 7934 | 0.06 |
| Deloitte LLP | Deloitte LLP | Deloitte LLP | Deloitte LLP | Deloitte LLP | Deloitte LLP | 5.250 | 01/30/2030 | 01/30/2030 | 10/30/2024 | 2000 | 2000 | 2009 | 2009 | 0.02 |
| Deloitte LLP | Deloitte LLP | Deloitte LLP | Deloitte LLP | Deloitte LLP | Deloitte LLP | 5.410 | 01/30/2032 | 01/30/2032 | 10/30/2024 | 2000 | 2000 | 2006 | 2006 | 0.01 |
| Deloitte LLP | Deloitte LLP | Deloitte LLP | Deloitte LLP | Deloitte LLP | Deloitte LLP | 5.590 | 01/30/2035 | 01/30/2035 | 10/30/2024 | 2000 | 2000 | 1992 | 1992 | 0.02 |
| Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC | 4.840 | 06/07/2028 | 06/07/2028 | 03/11/2025 | 6000 | 6000 | 6007 | 6007 | 0.05 |
| National Football League | National Football League | National Football League | National Football League | National Football League | National Football League | 4.780 | 10/05/2030 | 10/05/2030 | 03/14/2024 | 1000 | 1000 | 995 | 995 | 0.01 |
| National Football League | National Football League | National Football League | National Football League | National Football League | National Football League | 5.480 | 10/05/2028 | 10/05/2028 | 03/14/2024 | 1600 | 1600 | 1617 | 1617 | 0.01 |
| Tib Finance PLC | Tib Finance PLC | Tib Finance PLC | Tib Finance PLC | Tib Finance PLC | Tib Finance PLC | 7.111 | 11/15/2034 | 11/15/2034 | 09/18/2024 | 2200 | 2200 | 2146 | 2146 | 0.02 |
| VB DPR Finance Co. | VB DPR Finance Co. | VB DPR Finance Co. | VB DPR Finance Co. | VB DPR Finance Co. | VB DPR Finance Co. | 6.833 | 03/15/2035 | 03/15/2035 | 01/31/2025 | 4200 | 4200 | 4246 | 4246 | 0.03 |
| Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | 5.219 | 09/15/2050 | 09/15/2050 | 03/02/2026 | 48955 | 48955 | 49038 | 49038 | 0.39 |
| Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | Valerie Asset Ltd. | 5.267 | 09/15/2050 | 09/15/2050 | 03/02/2026 | 6078 | 6078 | 6088 | 6088 | 0.05 |
|  |  |  |  |  |  |  |  |  | $ | 89164 | $ | 89123 | 0.71%  | 0.71%  |
| **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** |
| **(j)** | **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 | Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | 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 | BOS | 3.680% | 04/01/2026 | 04/02/2026 | $863500 | 863500 | 863500 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% - 4.125% due 03/31/2029 - 09/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% - 4.125% due 03/31/2029 - 09/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% - 4.125% due 03/31/2029 - 09/30/2029 | (880868) | $863500 | $ | $863500 |
|  |  | 3.680 | 03/12/2026 | 04/08/2026 | 150000 | 150000 | 150000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 10/31/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 10/31/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 10/31/2030 | (151002) | 150000 |  | 150307 |
|  |  | 3.680 | 03/19/2026 | 04/15/2026 | 200000 | 200000 | 200000 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 10/31/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 10/31/2030 | &nbsp;&nbsp; U.S. Treasury Notes 3.625% due 10/31/2030 | (203797) | 200000 |  | 200266 |
|  |  | 3.690 | 03/16/2026 | 04/01/2026 | 400000 | 400000 | 400000 | &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 | (407553) | 400000 |  | 400656 |
|  |  | 3.690 | 03/10/2026 | 04/06/2026 | 150000 | 150000 | 150000 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 09/30/2027 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 09/30/2027 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 09/30/2027 | (150236) | 150000 |  | 150338 |
|  |  | 3.690 | 03/17/2026 | 04/06/2026 | 200000 | 200000 | 200000 | &nbsp;&nbsp; U.S. Treasury Notes 0.875% due 11/15/2030 | &nbsp;&nbsp; U.S. Treasury Notes 0.875% due 11/15/2030 | &nbsp;&nbsp; U.S. Treasury Notes 0.875% due 11/15/2030 | (203218) | 200000 |  | 200307 |
|  |  | 3.690 | 03/13/2026 | 04/08/2026 | 50000 | 50000 | 50000 | &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 | (51047) | 50000 |  | 50097 |
|  |  | 3.690 | 03/13/2026 | 04/09/2026 | 300000 | 300000 | 300000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 02/28/2030 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 02/28/2030 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% due 02/28/2030 | (306029) | 300000 |  | 300584 |
|  |  | 3.690 | 03/23/2026 | 04/13/2026 | 100000 | 100000 | 100000 | &nbsp;&nbsp; U.S. Treasury Notes 1.375% due 10/31/2028 | &nbsp;&nbsp; U.S. Treasury Notes 1.375% due 10/31/2028 | &nbsp;&nbsp; U.S. Treasury Notes 1.375% due 10/31/2028 | (102441) | 100000 |  | 100092 |
|  |  | 3.690 | 03/23/2026 | 04/20/2026 | 300000 | 300000 | 300000 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% - 4.125% due 02/28/2030 - 10/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% - 4.125% due 02/28/2030 - 10/31/2031 | &nbsp;&nbsp; U.S. Treasury Notes 4.000% - 4.125% due 02/28/2030 - 10/31/2031 | (307333) | 300000 |  | 300277 |
|  |  | 3.710 | 03/31/2026 | 04/01/2026 | 512200 | 512200 | 512200 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 09/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 09/30/2029 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 09/30/2029 | (523180) | 512200 |  | 512253 |
| CTR | CTR | 3.690 | 04/01/2026 | 04/02/2026 | 100 | 100 | 100 | &nbsp;&nbsp; U.S. Treasury Notes 4.375% due 11/30/2028 | &nbsp;&nbsp; U.S. Treasury Notes 4.375% due 11/30/2028 | &nbsp;&nbsp; U.S. Treasury Notes 4.375% due 11/30/2028 | (102) | 100 |  | 100 |
| DEU | DEU | 3.620 | 03/31/2026 | 04/01/2026 | 15100 | 15100 | 15100 | &nbsp;&nbsp; U.S. Treasury Bonds 4.625% due 11/15/2044 | &nbsp;&nbsp; U.S. Treasury Bonds 4.625% due 11/15/2044 | &nbsp;&nbsp; U.S. Treasury Bonds 4.625% due 11/15/2044 | (15379) | 15100 |  | 15102 |
| WAN | WAN | 3.710 | 03/31/2026 | 04/01/2026 | 76800 | 76800 | 76800 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 10/31/2027 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 10/31/2027 | &nbsp;&nbsp; U.S. Treasury Notes 3.500% due 10/31/2027 | (78412) | 76800 |  | 76808 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  | **(3380597)** | $**3317700** | **$** | $**3320687** |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 4 | 7 | 24 | 35 | 39 | 41 | 65 | 76 | 90 | 105 | 110 | 121 | 134 | 141 | 150 | 163 | 173 | 184 | 186 | 201 |
| **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:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Counterparty | Counterparty | Counterparty | Counterparty | Borrowing Rate<sup>(2)</sup> | Borrowing Rate<sup>(2)</sup> | Settlement Date | 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> |  | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| BOS | BOS | BOS | BOS | BOS | BOS | 3.500% | 3.500% | 03/27/2026 | 03/27/2026 | 03/27/2026 | 06/12/2026 | 06/12/2026 | 06/12/2026 | $ | (6044) | (6044) | (6044) | $ | $(6047) | (6047) |
| MSC | MSC | MSC | MSC | MSC | MSC | 1.750 | 1.750 | 03/20/2026 | 03/20/2026 | 03/20/2026 | 05/01/2026 | 05/01/2026 | 05/01/2026 |  | (3348) | (3348) | (3348) |  | (3350) | (3350) |
|  |  |  |  |  |  | 3.400 | 3.400 | 03/20/2026 | 03/20/2026 | 03/20/2026 | 05/01/2026 | 05/01/2026 | 05/01/2026 |  | (3348) | (3348) | (3348) |  | (3352) | (3352) |
|  |  |  |  |  |  | 3.550 | 3.550 | 03/20/2026 | 03/20/2026 | 03/20/2026 | 05/01/2026 | 05/01/2026 | 05/01/2026 |  | (3384) | (3384) | (3384) |  | (3388) | (3388) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  |  |  |  |  | **$** | $**(16137)** | **(16137)** |
| **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:** | **SHORT SALES:** | **SHORT SALES:** | **SHORT SALES:** |
| Description | Description | Description | Description | Description | Description | Description | Description | Description | Description | Coupon | Maturity<br>Date | Maturity<br>Date | Principal<br>Amount | Principal<br>Amount | Principal<br>Amount | Proceeds | Proceeds | Proceeds | Proceeds | Payable for<br>Short Sales |
| U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% | U.S. Government Agencies (6.4)% |
| &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 | &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% | 04/01/2056 | 04/01/2056 | $ | 779712 | 779712 | $ | (805523) | (805523) | (805523) | $(806737) |
| **Total Short Sales (6.4)%** | **Total Short Sales (6.4)%** | **Total Short Sales (6.4)%** | **Total Short Sales (6.4)%** | **Total Short Sales (6.4)%** | **Total Short Sales (6.4)%** | **Total Short Sales (6.4)%** | **Total Short Sales (6.4)%** | **Total Short Sales (6.4)%** | **Total Short Sales (6.4)%** |  |  |  |  |  |  | **$** | **(805523)** | **(805523)** | **(805523)** | $**(806737)** |
| **(k)** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $21,044 and cash of $295 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** |
| <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. | 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. 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 March 31, 2026 was $(3469) at a weighted average interest rate of 3.142%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| **(l)** | **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** | **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:** | **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** | **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 | Description |  | Expiration<br>Month | Expiration<br>Month | # of<br>Contracts | # 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 |
| Australia Government 10-Year Bond June Futures | Australia Government 10-Year Bond June Futures | Australia Government 10-Year Bond June Futures | Australia Government 10-Year Bond June Futures | Australia Government 10-Year Bond June Futures | 06/2026 | 06/2026 | 98 | 98 | 7286 | 7286 | 7286 | $(45) | (45) | (45) | (45) | 69 | 69 | 69 | $ | 0 |
| Euro-Bund June Futures | Euro-Bund June Futures | Euro-Bund June Futures | Euro-Bund June Futures | Euro-Bund June Futures | 06/2026 | 06/2026 | 485 | 485 | 70292 | 70292 | 70292 | (1756) | (1756) | (1756) | (1756) | 510 | 510 | 510 |  | 0 |
| Long Guilt June Futures | Long Guilt June Futures | Long Guilt June Futures | Long Guilt June Futures | Long Guilt June Futures | 06/2026 | 06/2026 | 1709 | 1709 | 198584 | 198584 | 198584 | (10580) | (10580) | (10580) | (10580) | 1493 | 1493 | 1493 |  | 0 |
| U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | 06/2026 | 06/2026 | 2492 | 2492 | 269584 | 269584 | 269584 | (3141) | (3141) | (3141) | (3141) | 350 | 350 | 350 |  | 0 |
| U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | 06/2026 | 06/2026 | 4222 | 4222 | 468840 | 468840 | 468840 | (8332) | (8332) | (8332) | (8332) | 990 | 990 | 990 |  | 0 |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | 06/2026 | 06/2026 | 13054 | 13054 | 1481833 | 1481833 | 1481833 | (31211) | (31211) | (31211) | (31211) | 3875 | 3875 | 3875 |  | 0 |
| U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | 06/2026 | 06/2026 | 1923 | 1923 | 224150 | 224150 | 224150 | (7460) | (7460) | (7460) | (7460) | 421 | 421 | 421 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  | (62525) | (62525) | (62525) | $ | 7708 | 7708 | $ | $ | 0 |
| **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Description | Description |  | Expiration<br>Month | Expiration<br>Month | # of<br>Contracts | # 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 |
| Euro-Oat June Futures | Euro-Oat June Futures | Euro-Oat June Futures | Euro-Oat June Futures | Euro-Oat June Futures | 06/2026 | 06/2026 | 915 | 915 | (125527) | (125527) | (125527) | $3982 | 3982 | 3982 | 3982 | 0 | 0 | 0 | $ | (1163) |
| **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** | **(58543)** | **(58543)** | **(58543)** | **$** | **7708** | **7708** | **$** | **$** | **(1163)** |
| **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> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Reference Entity | Reference Entity | Fixed<br>Receive Rate | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Notional<br>Amount<sup>(3)</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> | Market<br>Value<sup>(4)</sup> | Asset | Asset | Asset | Liability |
| AT&T, Inc. | AT&T, Inc. | 1.000% | 06/20/2028 | 0.395 | 0.395 | 0.395 | $500 | 500 | $3 | $ | $ | 4 | $ | $7 | 7 | 7 | $0 | 0 | 0 | $0 |
| Boeing Co. | Boeing Co. | 1.000 | 12/20/2030 | 0.712 | 0.712 | 0.712 | 4600 | 4600 | 77 |  |  | (19) |  | 58 | 58 | 58 | 2 | 2 | 2 | 0 |
| Bombardier, Inc. | Bombardier, Inc. | 5.000 | 06/20/2028 | 0.527 | 0.527 | 0.527 | 100 | 100 | 4 |  |  | 6 |  | 10 | 10 | 10 | 0 | 0 | 0 | 0 |
| Charter Communications | Charter Communications | 5.000 | 12/20/2030 | 2.600 | 2.600 | 2.600 | 8350 | 8350 | 788 |  |  | 48 |  | 836 | 836 | 836 | 10 | 10 | 10 | 0 |
| Discovery Global Holdings, Inc. | Discovery Global Holdings, Inc. | 1.000 | 12/20/2026 | 0.970 | 0.970 | 0.970 | 12300 | 12300 | (45) |  |  | 52 |  | 7 | 7 | 7 | 1 | 1 | 1 | 0 |
| Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | 5.000 | 06/20/2028 | 0.935 | 0.935 | 0.935 | 200 | 200 | 21 |  |  | (3) |  | 18 | 18 | 18 | 0 | 0 | 0 | 0 |
| Morgan Stanley | Morgan Stanley | 1.000 | 06/20/2026 | 0.303 | 0.303 | 0.303 | 11400 | 11400 | 44 |  |  | (23) |  | 21 | 21 | 21 | 1 | 1 | 1 | 0 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 5 | 7 | 14 | 16 | 21 | 24 | 33 | 35 | 36 | 56 | 63 | 65 | 92 | 105 | 117 | 134 | 163 | 175 | 189 | 203 |
| Verizon Communications, Inc. | Verizon Communications, Inc. | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2028 | 12/20/2028 | 0.423 | 0.423 |  |  | 100 | 1 |  | 0 |  | 1 | 0 |  | 0 |
| ZF Europe Finance BV | ZF Europe Finance BV | 5.000 | 5.000 | Quarterly | Quarterly | 12/20/2029 | 12/20/2029 | 3.160 | 3.160 |  | EUR | 1400 | 109 |  | (7) |  | 102 | 0 |  | (11) |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 1002 | 1002 | 58 | 58 | 1060 | 14 | 14 | (11) |
| **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 | Fixed<br>Receive Rate | 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> | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) |  | Market<br>Value<sup>(4)</sup> | Asset |  | Liability |
| CDX.EM-40 5-Year Index | CDX.EM-40 5-Year Index | CDX.EM-40 5-Year Index | 1.000% | 1.000% | Quarterly | Quarterly | 12/20/2028 | 12/20/2028 | 12/20/2028 | $ | 200 | 200 | (9) | $ | 9 | $ | 0 | 1 | $ | 0 |
| CDX.EM-42 5-Year Index | CDX.EM-42 5-Year Index | CDX.EM-42 5-Year Index | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2029 | 12/20/2029 | 12/20/2029 |  | 100 | 100 | (3) |  | 2 |  | (1) | 1 |  | 0 |
| CDX.EM-44 5-Year Index | CDX.EM-44 5-Year Index | CDX.EM-44 5-Year Index | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 |  | 200 | 200 | (4) |  | 0 |  | (4) | 1 |  | 0 |
| CDX.HY-43 5-Year Index | CDX.HY-43 5-Year Index | CDX.HY-43 5-Year Index | 5.000 | 5.000 | Quarterly | Quarterly | 12/20/2029 | 12/20/2029 | 12/20/2029 |  | 89100 | 89100 | 6827 |  | (1525) |  | 5302 | 723 |  | 0 |
| CDX.HY-44 5-Year Index | CDX.HY-44 5-Year Index | CDX.HY-44 5-Year Index | 5.000 | 5.000 | Quarterly | Quarterly | 06/20/2030 | 06/20/2030 | 06/20/2030 |  | 697752 | 697752 | 39931 |  | 1901 |  | 41832 | 5909 |  | 0 |
| CDX.HY-45 5-Year Index | CDX.HY-45 5-Year Index | CDX.HY-45 5-Year Index | 5.000 | 5.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 |  | 447777 | 447777 | 32511 |  | (8184) |  | 24327 | 4024 |  | 0 |
| CDX.HY-46 5-Year Index | CDX.HY-46 5-Year Index | CDX.HY-46 5-Year Index | 5.000 | 5.000 | Quarterly | Quarterly | 06/20/2031 | 06/20/2031 | 06/20/2031 |  | 134600 | 134600 | 5281 |  | 1392 |  | 6673 | 1228 |  | 0 |
| CDX.IG-43 5-Year Index | CDX.IG-43 5-Year Index | CDX.IG-43 5-Year Index | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2029 | 12/20/2029 | 12/20/2029 |  | 1300 | 1300 | 24 |  | 0 |  | 24 | 2 |  | 0 |
| CDX.IG-44 5-Year Index | CDX.IG-44 5-Year Index | CDX.IG-44 5-Year Index | 1.000 | 1.000 | Quarterly | Quarterly | 06/20/2030 | 06/20/2030 | 06/20/2030 |  | 1910300 | 1910300 | 38169 |  | (3327) |  | 34842 | 3389 |  | 0 |
| CDX.IG-45 5-Year Index | CDX.IG-45 5-Year Index | CDX.IG-45 5-Year Index | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 |  | 1808900 | 1808900 | 40280 |  | (7619) |  | 32661 | 3542 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 163007 | $ | (17351) | $ | 145656 | 18820 | $ | 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 | Floating Rate Index | 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 | 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% | Annual | Annual | 09/17/2030 | GBP | 328800 | 328800 | $(1610) | (1610) | $(6955) | (6955) | (8565) | $1022 | 1022 | $0 |
| Receive | 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 | Annual | Annual | 03/18/2031 |  | 282600 | 282600 | 32 | 32 | 7869 | 7869 | 7901 | 0 | 0 | (912) |
| 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 | Annual | Annual | 12/18/2026 | $ | $117700 | 117700 | (1476) | (1476) | 1443 | 1443 | (33) | 0 | 0 | (16) |
| 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 | Annual | Annual | 06/18/2030 |  | 485000 | 485000 | 366 | 366 | 9297 | 9297 | 9663 | 0 | 0 | (472) |
| 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 | Annual | Annual | 12/17/2030 |  | 805500 | 805500 | (17568) | (17568) | 12602 | 12602 | (4966) | 0 | 0 | (839) |
| 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 | 3.200 | 3.200 | Annual | Annual | 08/31/2031 |  | 30500 | 30500 | (31) | (31) | 836 | 836 | 805 | 0 | 0 | (34) |
| 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 | 3.245 | 3.245 | Annual | Annual | 10/18/2034 |  | 217800 | 217800 | 3993 | 3993 | 5395 | 5395 | 9388 | 0 | 0 | (200) |
| 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 | 3.736 | 3.736 | Annual | Annual | 08/15/2035 |  | 43400 | 43400 | 0 | 0 | 339 | 339 | 339 | 0 | 0 | (38) |
| 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 | 3.749 | 3.749 | Annual | Annual | 08/15/2035 |  | 150400 | 150400 | (59) | (59) | 1081 | 1081 | 1022 | 0 | 0 | (132) |
| 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 | Annual | Annual | 12/17/2035 |  | 575850 | 575850 | (12200) | (12200) | 16990 | 16990 | 4790 | 0 | 0 | (476) |
| 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 | Annual | Annual | 12/17/2045 |  | 58000 | 58000 | 875 | 875 | 2474 | 2474 | 3349 | 90 | 90 | 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 | 3.300 | 3.300 | Annual | Annual | 11/15/2053 |  | 14800 | 14800 | 1415 | 1415 | 721 | 721 | 2136 | 48 | 48 | 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 | 3.500 | 3.500 | Annual | Annual | 09/17/2055 |  | 116625 | 116625 | 6699 | 6699 | 6290 | 6290 | 12989 | 436 | 436 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.926 | 13.926 | Maturity | Maturity | 01/04/2027 | BRL | 24900 | 24900 | 0 | 0 | (36) | (36) | (36) | 7 | 7 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.927 | 13.927 | Maturity | Maturity | 01/04/2027 |  | 474400 | 474400 | (201) | (201) | (485) | (485) | (686) | 128 | 128 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 12.820 | 12.820 | Maturity | Maturity | 01/02/2029 |  | 149200 | 149200 | 0 | 0 | (487) | (487) | (487) | 173 | 173 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 12.905 | 12.905 | Maturity | Maturity | 01/02/2029 |  | 24000 | 24000 | 0 | 0 | (79) | (79) | (79) | 28 | 28 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.291 | 13.291 | Maturity | Maturity | 01/02/2029 |  | 791300 | 791300 | (125) | (125) | (2222) | (2222) | (2347) | 918 | 918 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.310 | 13.310 | Maturity | Maturity | 01/02/2029 |  | 78400 | 78400 | 0 | 0 | (164) | (164) | (164) | 91 | 91 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.320 | 13.320 | Maturity | Maturity | 01/02/2029 |  | 154100 | 154100 | 13 | 13 | (340) | (340) | (327) | 178 | 178 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 12.867 | 12.867 | Maturity | Maturity | 01/02/2031 |  | 178000 | 178000 | 0 | 0 | (774) | (774) | (774) | 239 | 239 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.015 | 13.015 | Maturity | Maturity | 01/02/2031 |  | 126000 | 126000 | 0 | 0 | (418) | (418) | (418) | 169 | 169 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.245 | 13.245 | Maturity | Maturity | 01/02/2031 |  | 20800 | 20800 | 0 | 0 | (42) | (42) | (42) | 28 | 28 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.255 | 13.255 | Maturity | Maturity | 01/02/2031 |  | 168000 | 168000 | (40) | (40) | (288) | (288) | (328) | 225 | 225 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.435 | 13.435 | Maturity | Maturity | 01/02/2031 |  | 15700 | 15700 | 0 | 0 | (17) | (17) | (17) | 21 | 21 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.440 | 13.440 | Maturity | Maturity | 01/02/2031 |  | 15700 | 15700 | 0 | 0 | (16) | (16) | (16) | 21 | 21 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.560 | 13.560 | Maturity | Maturity | 01/02/2031 |  | 21600 | 21600 | 0 | 0 | (11) | (11) | (11) | 29 | 29 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.681 | 13.681 | Maturity | Maturity | 01/02/2031 |  | 48000 | 48000 | 0 | 0 | 5 | 5 | 5 | 64 | 64 | 0 |
| Pay | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 1-Year BRL-CDI | 13.725 | 13.725 | Maturity | Maturity | 01/02/2031 |  | 3300 | 3300 | 0 | 0 | 1 | 1 | 1 | 4 | 4 | 0 |
| Pay | 3-Month AUD-BBR-BBSW | 3-Month AUD-BBR-BBSW | 3-Month AUD-BBR-BBSW | 3-Month AUD-BBR-BBSW | 5.000 | 5.000 | Semi-Annual | Semi-Annual | 09/16/2036 | AUD | 307600 | 307600 | (2370) | (2370) | 863 | 863 | (1507) | 0 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 3-Month ZAR-JIBAR | 3-Month ZAR-JIBAR | 3-Month ZAR-JIBAR | 6.770 | 6.770 | Quarterly | Quarterly | 03/10/2028 | ZAR | 132700 | 132700 | 0 | 0 | (81) | (81) | (81) | 20 | 20 | 0 |
| Receive | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 4.750 | 4.750 | Semi-Annual | Semi-Annual | 12/20/2033 | AUD | 158375 | 158375 | 1771 | 1771 | (395) | (395) | 1376 | 0 | 0 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 4.750 | 4.750 | Semi-Annual | Semi-Annual | 12/20/2033 |  | 158375 | 158375 | 160 | 160 | (1536) | (1536) | (1376) | 1210 | 1210 | (214) |
| Pay | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 6-Month AUD-BBR-BBSW | 4.250 | 4.250 | Semi-Annual | Semi-Annual | 03/18/2036 |  | 92800 | 92800 | (2940) | (2940) | (1155) | (1155) | (4095) | 860 | 860 | 0 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 4 | 5 | 15 | 19 | 26 | 34 | 50 | 80 | 90 | 95 | 115 | 127 | 141 | 143 | 173 | 175 | 187 | 201 | 203 |
| Pay | Pay | 6-Month CZK-PRIBOR | 6-Month CZK-PRIBOR | 4.270 | Annual | Annual | 08/01/2028 | 48900 |  | 22 |  | 34 |  | 56 |  | 4 | 4 |  | 0 |
| Pay | Pay | 6-Month CZK-PRIBOR | 6-Month CZK-PRIBOR | 3.365 | Annual | Annual | 11/28/2029 | 149700 |  | (68) |  | (166) |  | (234) |  | 11 | 11 |  | 0 |
| Receive | Receive | 6-Month CZK-PRIBOR | 6-Month CZK-PRIBOR | 3.575 | Annual | Annual | 07/03/2030 | 163122 |  | 121 |  | (34) |  | 87 |  | 0 | 0 |  | (13) |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.250 | Annual | Annual | 03/18/2031 | 20150 |  | (427) |  | (245) |  | (672) |  | 90 | 90 |  | 0 |
| Pay<sup>(5)</sup> | Pay<sup>(5)</sup> | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.500 | Annual | Annual | 09/16/2031 | 3400 |  | (4) |  | (76) |  | (80) |  | 17 | 17 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.656 | Annual | Annual | 01/30/2036 | 47700 |  | (694) |  | (1134) |  | (1828) |  | 397 | 397 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.750 | Annual | Annual | 03/18/2036 | 31120 |  | (504) |  | (461) |  | (965) |  | 265 | 265 |  | 0 |
| Pay<sup>(5)</sup> | Pay<sup>(5)</sup> | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 2.750 | Annual | Annual | 09/16/2036 | 26300 |  | (226) |  | (731) |  | (957) |  | 277 | 277 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 3.000 | Annual | Annual | 03/18/2056 | 13170 |  | 560 |  | (258) |  | 302 |  | 0 | 0 |  | (146) |
| Receive<sup>(5)</sup> | Receive<sup>(5)</sup> | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 3.000 | Annual | Annual | 09/16/2056 | 74260 |  | 1426 |  | 445 |  | 1871 |  | 0 | 0 |  | (829) |
| Pay | Pay | 6-Month HUF-BBR | 6-Month HUF-BBR | 6.650 | Annual | Annual | 03/13/2030 | 4165800 |  | 6 |  | (213) |  | (207) |  | 67 | 67 |  | 0 |
| Pay | Pay | CDX.IG-46 5-Year Index | CDX.IG-46 5-Year Index | 1.000 | Quarterly | Quarterly | 06/20/2031 | 235800 |  | 3648 |  | 501 |  | 4149 |  | 511 | 511 |  | 0 |
|  |  |  |  |  |  |  |  | $ | $(19436) | (19436) | $48367 | 48367 | $28931 | 28931 | $7648 | 7648 | 7648 | $(4321) | (4321) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | $**144573** | **144573** | $**31074** | **31074** | $**175647** | **175647** | $**26482** | **26482** | **26482** | $**(4332)** | **(4332)** |
| **(m)** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Securities with an aggregate market value of $305,331 and cash of $61,890 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| <sup>(1)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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 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>(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. |
| <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. |
| <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. |
| **(n)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **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:** |
|  |  |  |  |  |  |  |  |  |  |  |  | <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 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 | 04/2026 | 04/2026 | 04/2026 | BRL | 12600 | 12600 | $ | $2413 | 2413 | 2413 | 0 | 0 | 0 | 0 | $(20) | (20) | (20) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | CAD | 58663 | 58663 |  | 42908 | 42908 | 42908 | 736 | 736 | 736 | 736 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | CNH | 14606 | 14606 |  | 2117 | 2117 | 2117 | 0 | 0 | 0 | 0 | (4) | (4) | (4) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | EUR | 4561 | 4561 |  | 5313 | 5313 | 5313 | 41 | 41 | 41 | 41 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | INR | 413101 | 413101 |  | 4399 | 4399 | 4399 | 37 | 37 | 37 | 37 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | JPY | 2126875 | 2126875 |  | 13330 | 13330 | 13330 | 0 | 0 | 0 | 0 | (71) | (71) | (71) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | KRW | 1545741 | 1545741 |  | 1056 | 1056 | 1056 | 28 | 28 | 28 | 28 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | PLN | 11459 | 11459 |  | 3098 | 3098 | 3098 | 12 | 12 | 12 | 12 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | SGD | 8306 | 8306 |  | 6577 | 6577 | 6577 | 116 | 116 | 116 | 116 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | $ | $2402 | 2402 | BRL | 12600 | 12600 | 12600 | 30 | 30 | 30 | 30 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 740 | 740 | CNH | 5100 | 5100 | 5100 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 2520 | 2520 | GBP | 1884 | 1884 | 1884 | 0 | 0 | 0 | 0 | (27) | (27) | (27) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 4399 | 4399 | INR | 413840 | 413840 | 413840 | 4 | 4 | 4 | 4 | 0 | 0 | 0 |
|  |  |  | 05/2026 | 05/2026 | 05/2026 |  | 13330 | 13330 | JPY | 2120469 | 2120469 | 2120469 | 71 | 71 | 71 | 71 | 0 | 0 | 0 |
|  |  |  | 05/2026 | 05/2026 | 05/2026 | ZAR | 35976 | 35976 | $ | $2081 | 2081 | 2081 | 0 | 0 | 0 | 0 | (37) | (37) | (37) |
|  |  |  | 06/2026 | 06/2026 | 06/2026 | ILS | 15598 | 15598 |  | 5049 | 5049 | 5049 | 77 | 77 | 77 | 77 | 0 | 0 | 0 |
|  |  |  | 06/2026 | 06/2026 | 06/2026 | MXN | 74895 | 74895 |  | 4178 | 4178 | 4178 | 25 | 25 | 25 | 25 | 0 | 0 | 0 |
|  |  |  | 06/2026 | 06/2026 | 06/2026 | PEN | 33795 | 33795 |  | 9795 | 9795 | 9795 | 120 | 120 | 120 | 120 | 0 | 0 | 0 |
|  |  |  | 06/2026 | 06/2026 | 06/2026 | $ | $388 | 388 | BRL | 2056 | 2056 | 2056 | 4 | 4 | 4 | 4 | 0 | 0 | 0 |
|  |  |  | 06/2026 | 06/2026 | 06/2026 |  | 1027 | 1027 | ILS | 3203 | 3203 | 3203 | 0 | 0 | 0 | 0 | (6) | (6) | (6) |
|  |  |  | 08/2026 | 08/2026 | 08/2026 | ZAR | 40843 | 40843 | $ | $2345 | 2345 | 2345 | 0 | 0 | 0 | 0 | (43) | (43) | (43) |
|  |  |  | 10/2026 | 10/2026 | 10/2026 | BRL | 13400 | 13400 |  | 2452 | 2452 | 2452 | 0 | 0 | 0 | 0 | (28) | (28) | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 04/2026 | 04/2026 | 04/2026 | AUD | 4376 | 4376 |  | 3114 | 3114 | 3114 | 95 | 95 | 95 | 95 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | BRL | 355347 | 355347 |  | 64623 | 64623 | 64623 | 0 | 0 | 0 | 0 | (3979) | (3979) | (3979) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | CNH | 4901 | 4901 |  | 713 | 713 | 713 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | ILS | 15612 | 15612 |  | 5056 | 5056 | 5056 | 90 | 90 | 90 | 90 | 0 | 0 | 0 |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | KRW | 3974604 | 3974604 |  | 2646 | 2646 | 2646 | 9 | 9 | 9 | 9 | (6) | (6) | (6) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | PLN | 4380 | 4380 |  | 1177 | 1177 | 1177 | 0 | 0 | 0 | 0 | (3) | (3) | (3) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | THB | 510726 | 510726 |  | 15797 | 15797 | 15797 | 299 | 299 | 299 | 299 | (7) | (7) | (7) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 | $ | $12847 | 12847 | AUD | 18285 | 18285 | 18285 | 0 | 0 | 0 | 0 | (231) | (231) | (231) |
|  |  |  | 04/2026 | 04/2026 | 04/2026 |  | 67835 | 67835 | BRL | 355347 | 355347 | 355347 | 767 | 767 | 767 | 767 | 0 | 0 | 0 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 04/2026 | 25478 | 431100733 | 2 | (84) |
|  | 04/2026 | 3725 | 11799 | 28 | 0 |
|  | 04/2026 | 1045 | 166700 | 5 | 0 |
|  | 04/2026 | 2935 | 4383334 | 6 | (26) |
|  | 04/2026 | 12541 | 45201 | 0 | (365) |
|  | 04/2026 | 9 | 280 | 0 | 0 |
|  | 04/2026 | 14047 | 448989 | 2 | (35) |
|  | 04/2026 | 240780 | $14218 | 8 | 0 |
|  | 05/2026 | 11786 | 3725 | 0 | (28) |
|  | 05/2026 | 1121423 | 11852 | 0 | (49) |
|  | 05/2026 | 257527 | 7992 | 0 | (36) |
|  | 05/2026 | $6249 | 32852 | 55 | 0 |
|  | 05/2026 | 5936 | 101042025 | 15 | 0 |
|  | 05/2026 | 19064 | 1805458 | 96 | 0 |
|  | 05/2026 | 1182 | 38803 | 0 | (2) |
|  | 05/2026 | 98431 | $5564 | 0 | (238) |
|  | 06/2026 | 338 | 97 | 1 | 0 |
|  | 06/2026 | $7040 | 37409 | 88 | 0 |
|  | 06/2026 | 2206 | 37181797 | 0 | (20) |
|  | 07/2026 | 65500 | $12178 | 0 | (212) |
|  | 10/2026 | 113100 | 20644 | 0 | (289) |
|  | 05/2030 | 2974 | 10242 | 466 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | 04/2026 | 82 | 59 | 0 | 0 |
|  | 04/2026 | 1254273 | 27283 | 0 | (354) |
|  | 04/2026 | $1051 | 1817 | 0 | (7) |
|  | 04/2026 | 6917 | 24891 | 0 | (212) |
|  | 04/2026 | 5668 | 51426 | 0 | (236) |
|  | 04/2026 | 97519 | 4389740 | 739 | 0 |
|  | 04/2026 | 308045 | $18824 | 644 | 0 |
|  | 05/2026 | 77984 | 1673 | 0 | (10) |
|  | 05/2026 | $59 | 82 | 0 | 0 |
|  | 05/2026 | 12 | 9 | 0 | 0 |
|  | 05/2026 | 505 | 23438 | 0 | 0 |
|  | 06/2026 | 151 | $49 | 1 | 0 |
|  | 07/2026 | 70067571 | 18455 | 0 | (135) |
|  | 12/2026 | 40135 | 2280 | 0 | (41) |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | 04/2026 | 5032 | 3545 | 73 | 0 |
|  | 04/2026 | 47 | 34 | 1 | 0 |
|  | 04/2026 | 4925 | 714 | 0 | (1) |
|  | 04/2026 | 9366314 | 2454 | 0 | (96) |
|  | 04/2026 | 78387 | 90757 | 153 | 0 |
|  | 04/2026 | 7423 | 9924 | 99 | 0 |
|  | 04/2026 | 3152832 | 33734 | 438 | 0 |
|  | 04/2026 | 20635 | 2125 | 1 | (8) |
|  | 04/2026 | 16435 | 1762 | 26 | 0 |
|  | 04/2026 | 292 | 9 | 0 | 0 |
|  | 04/2026 | 22788 | 715 | 3 | 0 |
|  | 04/2026 | $1548 | 2186 | 0 | (40) |
|  | 04/2026 | 2215 | 15262 | 1 | 0 |
|  | 04/2026 | 14950 | 55765602 | 181 | 0 |
|  | 04/2026 | 18555 | 13956 | 0 | (83) |
|  | 04/2026 | 3 | 944 | 0 | 0 |
|  | 04/2026 | 89224 | 8217012 | 68 | (2261) |
|  | 04/2026 | 8 | 260 | 0 | (1) |
|  | 05/2026 | 13017270 | $3526 | 11 | 0 |
|  | 05/2026 | 23943 | 7019 | 157 | 0 |
|  | 05/2026 | $1939 | 2829 | 12 | 0 |
|  | 05/2026 | 1242 | 940 | 2 | 0 |
|  | 05/2026 | 379 | 36059 | 3 | 0 |
|  | 05/2026 | 0 | 3 | 0 | 0 |
|  | 06/2026 | 130788117 | $34711 | 0 | (312) |
|  | 06/2026 | 4787 | 1553 | 27 | 0 |
|  | 06/2026 | 120582 | 35159 | 639 | 0 |
|  | 06/2026 | $1544 | 25939972 | 0 | (19) |
|  | 07/2026 | 62016500 | $16271 | 0 | (214) |
|  | 07/2026 | $1310 | 704667 | 110 | 0 |
|  | 08/2026 | 21893 | $6452 | 199 | 0 |
|  | 08/2026 | $1191 | 60266 | 0 | (165) |
|  | 09/2026 | 105451707 | $27251 | 0 | (394) |
|  | 09/2026 | 40457 | 11873 | 343 | 0 |
|  | 11/2026 | 11278 | 3297 | 96 | 0 |
|  | 12/2026 | 30689 | 8846 | 142 | 0 |
|  | 01/2027 | $3273 | 11154 | 0 | (114) |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | 04/2026 | 5321 | $769 | 0 | (3) |
|  | 04/2026 | 5319 | 252 | 1 | 0 |
|  | 04/2026 | 62032 | 185 | 0 | (2) |
|  | 04/2026 | 31500 | 10176 | 154 | 0 |
|  | 04/2026 | 1276232 | 13555 | 95 | (18) |
|  | 04/2026 | $32595 | 47514 | 188 | 0 |
|  | 04/2026 | 1632 | 11178 | 0 | (9) |
|  | 04/2026 | 1063 | 54346 | 0 | (73) |
|  | 04/2026 | 15065 | 1419103 | 97 | (81) |
|  | 04/2026 | 1138 | 4135 | 0 | (24) |
|  | 04/2026 | 73011 | 93265 | 0 | (471) |
|  | 04/2026 | 5170 | 168861 | 0 | (44) |
|  | 05/2026 | 47514 | $32582 | 0 | (188) |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 05/2026 | 93056 | 73011 | 468 | 0 |
|  | 05/2026 | $769 | 5308 | 3 | 0 |
|  | 06/2026 | 2474606 | $4677 | 0 | (383) |
|  | 06/2026 | 34279 | 9983 | 169 | 0 |
|  | 06/2026 | 168517 | 5170 | 29 | 0 |
|  | 07/2026 | $6487 | 3481494 | 502 | 0 |
|  | 08/2026 | 25477 | $7554 | 280 | 0 |
|  | 08/2026 | $730 | 391514 | 53 | 0 |
|  | 09/2026 | 7502 | $2179 | 42 | 0 |
|  | 09/2026 | 25465573 | 1998 | 0 | (17) |
|  | 12/2026 | 43755928 | 3365 | 0 | (26) |
|  | 12/2026 | 115078 | 6532 | 0 | (122) |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | 04/2026 | 22331 | 15826 | 419 | 0 |
|  | 04/2026 | 129949 | 24897 | 0 | (190) |
|  | 04/2026 | 7701 | 9979 | 347 | 0 |
|  | 04/2026 | 14874 | 19928 | 241 | 0 |
|  | 04/2026 | 2714207 | 17006 | 0 | (96) |
|  | 04/2026 | 29 | 23 | 0 | 0 |
|  | 04/2026 | $24943 | 129949 | 145 | 0 |
|  | 04/2026 | 375 | 299 | 0 | (1) |
|  | 04/2026 | 6076 | 4516 | 0 | (98) |
|  | 04/2026 | 4694 | 733355 | 0 | (73) |
|  | 04/2026 | 7682 | 27723 | 0 | (214) |
|  | 04/2026 | 394 | 504 | 0 | (2) |
|  | 05/2026 | 298 | $375 | 1 | 0 |
|  | 05/2026 | 19602 | 6194 | 0 | (48) |
|  | 05/2026 | 502 | 394 | 2 | 0 |
|  | 05/2026 | $1636 | 6047761 | 0 | (3) |
|  | 05/2026 | 19927 | 14874 | 0 | (241) |
|  | 05/2026 | 17006 | 2706009 | 95 | 0 |
|  | 06/2026 | 11102 | $3601 | 63 | 0 |
|  | 06/2026 | 177877 | 10226 | 362 | 0 |
|  | 06/2026 | 31483 | 9163 | 150 | 0 |
|  | 08/2026 | 6176865 | 1636 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | 04/2026 | 327841 | 59583 | 0 | (3708) |
|  | 04/2026 | 1985895 | 527 | 0 | (11) |
|  | 04/2026 | 37389 | 109 | 0 | (3) |
|  | 04/2026 | 15053 | 4842 | 52 | 0 |
|  | 04/2026 | 51706 | 567 | 21 | 0 |
|  | 04/2026 | $62330 | 327841 | 962 | 0 |
|  | 04/2026 | 1973 | 13547 | 0 | (6) |
|  | 04/2026 | 677 | 11441531 | 0 | (3) |
|  | 04/2026 | 38129 | 694656 | 592 | 0 |
|  | 04/2026 | 2875 | 94342 | 0 | (11) |
|  | 05/2026 | 98275 | 532206 | 3846 | 0 |
|  | 05/2026 | 22 | 17 | 0 | 0 |
|  | 05/2026 | 577 | 54462 | 2 | 0 |
|  | 06/2026 | 20972 | $3895 | 0 | (101) |
|  | 06/2026 | 32234122 | 1912 | 17 | 0 |
|  | 06/2026 | 4871 | 1389 | 0 | (6) |
|  | 06/2026 | 94174 | 2875 | 2 | 0 |
|  | 06/2026 | $1159 | 6170 | 16 | 0 |
|  | 06/2026 | 3265 | 55262222 | 0 | (15) |
|  | 06/2026 | 23886 | 418676 | 0 | (670) |
|  | 07/2026 | 208100 | $38636 | 0 | (727) |
|  | 07/2026 | 244845 | 64 | 0 | (1) |
|  | 07/2026 | $23658 | 127317 | 425 | 0 |
|  | 07/2026 | 3307 | 1779719 | 279 | 0 |
|  | 08/2026 | 142250 | $7980 | 0 | (345) |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | 04/2026 | 114200 | 21199 | 0 | (848) |
|  | 04/2026 | 15332 | 2218 | 0 | (8) |
|  | 04/2026 | 3222 | 151 | 0 | (1) |
|  | 04/2026 | 182367 | 547 | 0 | (1) |
|  | 04/2026 | 653672 | 6952 | 49 | 0 |
|  | 04/2026 | 462769 | 25844 | 54 | 0 |
|  | 04/2026 | 16943 | 4558 | 5 | (11) |
|  | 04/2026 | 85415 | 67777 | 1342 | 0 |
|  | 04/2026 | $21618 | 114200 | 429 | 0 |
|  | 04/2026 | 12430 | 10590 | 0 | (190) |
|  | 04/2026 | 6953 | 654792 | 15 | 0 |
|  | 04/2026 | 1254 | 12015 | 0 | (13) |
|  | 04/2026 | 1813 | 3111 | 0 | (26) |
|  | 04/2026 | 3958 | 14158 | 0 | (144) |
|  | 04/2026 | 1068737 | $63795 | 757 | (36) |
|  | 05/2026 | 5970 | 4092 | 0 | (26) |
|  | 05/2026 | $809 | 5585 | 4 | 0 |
|  | 05/2026 | 10 | 1588 | 0 | 0 |
|  | 06/2026 | 104237539 | $27771 | 0 | (142) |
|  | 06/2026 | 11285 | 3651 | 54 | 0 |
|  | 06/2026 | 81174 | 4525 | 24 | 0 |
|  | 06/2026 | $34 | 572514 | 0 | 0 |
|  | 06/2026 | 977 | 3033 | 0 | (10) |
|  | 07/2026 | 70700 | $13068 | 0 | (305) |
|  | 08/2026 | $3069 | 1628024 | 167 | 0 |
|  | 10/2026 | 48800 | $8886 | 0 | (146) |
|  | 06/2027 | 8953246 | 664 | 0 | (5) |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | 04/2026 | 6815 | 4754 |  | 52 |  | 0 |
|  | 04/2026 | 34129 | 6539 |  | 0 |  | (50) |
|  | 04/2026 | 1245 | 1574 |  | 17 |  | 0 |
|  | 04/2026 | 22 | 30 |  | 0 |  | 0 |
|  | 04/2026 | 1533242 | 9588 |  | 0 |  | (73) |
|  | 04/2026 | 9246454 | 6318 |  | 170 |  | 0 |
|  | 04/2026 | 3695 | 380 |  | 0 |  | (1) |
|  | 04/2026 | 39090 | 4183 |  | 54 |  | 0 |
|  | 04/2026 | 193904 | 6102 |  | 214 |  | 0 |
|  | 04/2026 | $4561 | 6581 |  | 0 |  | (20) |
|  | 04/2026 | 6507 | 34129 |  | 82 |  | 0 |
|  | 04/2026 | 3930 | 3091 |  | 0 |  | (65) |
|  | 04/2026 | 5972 | 22110418 |  | 44 |  | 0 |
|  | 04/2026 | 1039 | 782 |  | 0 |  | (4) |
|  | 04/2026 | 8916 | 1399822 |  | 10 |  | (105) |
|  | 04/2026 | 1261 | 12020 |  | 0 |  | (19) |
|  | 05/2026 | 2390 | $3164 |  | 0 |  | 0 |
|  | 05/2026 | $138 | 105 |  | 0 |  | 0 |
|  | 05/2026 | 9588 | 1528609 |  | 72 |  | 0 |
|  | 06/2026 | 9503 | $526 |  | 0 |  | (1) |
|  | 06/2026 | 4547 | 1318 |  | 17 |  | 0 |
|  | 07/2026 | 22622103 | 5972 |  | 0 |  | (39) |
|  | 09/2026 | 4563 | 1318 |  | 18 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | 04/2026 | 1155 | 12 |  | 0 |  | 0 |
|  | 04/2026 | 2302 | 650 |  | 30 |  | 0 |
|  | 04/2026 | $12 | 1150 |  | 0 |  | 0 |
|  | 04/2026 | 25445 | 463534 |  | 394 |  | 0 |
|  | 06/2026 | 472708 | $28 |  | 0 |  | 0 |
|  | 07/2026 | $2063 | 1117000 |  | 194 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; NGF | 04/2026 | 30 | 288 |  | 0 |  | 0 |
|  | 04/2026 | 2571 | 117576 |  | 33 |  | 0 |
|  | 05/2026 | 9160 | 424094 |  | 0 |  | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC | 04/2026 | 7657 | $5594 |  | 89 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | 04/2026 | 48675 | 29101 |  | 1130 |  | 0 |
|  | 04/2026 | 19 | 15 |  | 0 |  | 0 |
|  | 04/2026 | 14244 | 447 |  | 15 |  | 0 |
|  | 04/2026 | $47995 | 66449 |  | 0 |  | (226) |
|  | 04/2026 | 1708 | 1280 |  | 0 |  | (14) |
|  | 04/2026 | 2624 | 241867 |  | 0 |  | (70) |
|  | 04/2026 | 5681 | 891155 |  | 0 |  | (66) |
|  | 04/2026 | 2353 | 8512 |  | 0 |  | (60) |
|  | 04/2026 | 2040 | 65100 |  | 0 |  | (6) |
|  | 05/2026 | 66357 | $47995 |  | 224 |  | 0 |
|  | 06/2026 | 266176 | 495 |  | 0 |  | (49) |
|  | 06/2026 | $5349 | 90182094 |  | 0 |  | (47) |
|  | 08/2026 | 2841 | 143481 |  | 0 |  | (398) |
|  | 08/2026 | 228 | 119446 |  | 11 |  | 0 |
|  | 08/2026 | 1850 | 2645743 |  | 0 |  | (32) |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | 04/2026 | 240470 | $284632 |  | 6684 |  | 0 |
|  | 04/2026 | 14890 | 8937 |  | 380 |  | 0 |
|  | 04/2026 | $7012 | 5566 |  | 13 |  | (64) |
|  | 04/2026 | 307 | 15037 |  | 0 |  | (35) |
|  | 04/2026 | 361004 | 312828 |  | 579 |  | 0 |
|  | 04/2026 | 20445 | 3181163 |  | 0 |  | (400) |
|  | 04/2026 | 430 | 4106 |  | 4 |  | 0 |
|  | 05/2026 | 4113 | $5149 |  | 0 |  | (13) |
|  | 05/2026 | 312828 | 361568 |  | 0 |  | (565) |
|  | 05/2026 | 4099 | 430 |  | 0 |  | (4) |
|  | 05/2026 | $2504 | 132824 |  | 0 |  | (162) |
|  | 06/2026 | 7423 | $2404 |  | 38 |  | 0 |
|  | 06/2026 | 133694 | 39578 |  | 1305 |  | 0 |
|  | 07/2026 | $4542 | 230734 |  | 0 |  | (591) |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | 04/2026 | 36012 | $25627 |  | 780 |  | 0 |
|  | 04/2026 | $24 | 3729 |  | 0 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | 04/2026 | 106942608 | $28160 |  | 0 |  | (895) |
|  | 04/2026 | 6512 | 310 |  | 3 |  | 0 |
|  | 04/2026 | 11428 | 3106 |  | 27 |  | 0 |
|  | 04/2026 | $10996 | 40882251 |  | 127 |  | 0 |
|  | 04/2026 | 10086 | 36525 |  | 0 |  | (247) |
|  | 05/2026 | 58637 | $33512 |  | 0 |  | (219) |
|  | 05/2026 | $1913 | 7074063 |  | 0 |  | (3) |
|  | 06/2026 | 85586507 | $22606 |  | 0 |  | (312) |
|  | 06/2026 | 12332 | 3989 |  | 58 |  | 0 |
|  | 06/2026 | 12120 | 675 |  | 3 |  | 0 |
|  | 06/2026 | $2307 | 40910 |  | 0 |  | (38) |
|  | 08/2026 | 7225186 | $1913 |  | 0 |  | (1) |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | $**33395** | **33395** | $**(25393)** | **(25393)** |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 4 | 6 | 18 | 32 | 34 | 44 | 46 | 48 | 64 | 73 | 88 | 100 | 111 | 131 | 147 | 153 | 176 | 182 | 196 | 206 |
| **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>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> |
| Counterparty | Counterparty | Reference Entity | Reference Entity | Fixed<br>Receive Rate | Fixed<br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> |  | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| BPS | BPS | Mexico Government International Bonds | Mexico Government International Bonds | 1.000% | 1.000% | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 0.329% | $ | $4000 | $22 | 22 | $(15) | (15) | $7 | 7 | $0 |
| BRC | BRC | Argentine Republic Government International Bonds | Argentine Republic Government International Bonds | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 2.754 |  | 17975 | 410 | 410 | (93) | (93) | 317 | 317 | 0 |
| CBK | CBK | Panama Government International Bonds | Panama Government International Bonds | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 0.516 |  | 5500 | 11 | 11 | (3) | (3) | 8 | 8 | 0 |
|  |  | Panama Government International Bonds | Panama Government International Bonds | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 1.186 |  | 900 | (12) | (12) | 5 | 5 | 0 | 0 | (7) |
|  |  | Petroleos Mexicanos | Petroleos Mexicanos | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 2.033 |  | 1600 | (16) | (16) | 5 | 5 | 0 | 0 | (11) |
| DUB | DUB | Petroleos Mexicanos « | Petroleos Mexicanos « | —◆ | —◆ | Monthly | Monthly | Monthly | 07/06/2026 | 07/06/2026 |  |  | 1177 | 0 | 0 | 6 | 6 | 6 | 6 | 0 |
| GST | GST | Soft Bank Group,Inc. | Soft Bank Group,Inc. | 1.000 | 1.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 1.662 |  | 9000 | (77) | (77) | 66 | 66 | 0 | 0 | (11) |
| JPM | JPM | Ecuador Government International Bonds | Ecuador Government International Bonds | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 2.178 |  | 7900 | 261 | 261 | 17 | 17 | 278 | 278 | 0 |
| MYC | MYC | Argentine Republic Government International Bonds | Argentine Republic Government International Bonds | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 2.371 |  | 500 | 6 | 6 | (2) | (2) | 4 | 4 | 0 |
|  |  | Argentine Republic Government International Bonds | Argentine Republic Government International Bonds | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 2.754 |  | 4325 | 94 | 94 | (18) | (18) | 76 | 76 | 0 |
|  |  | Argentine Republic Government International Bonds | Argentine Republic Government International Bonds | 5.000 | 5.000 | Quarterly | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 3.980 |  | 4600 | 84 | 84 | (21) | (21) | 63 | 63 | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $783 | 783 | $(53) | (53) | $759 | 759 | $(29) |
| **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>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> |
| Counterparty | Counterparty | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Index/Tranches | Fixed<br>Receive Rate | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date |  | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) |  | Asset |  | Liability |
| BOA | BOA | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000% | 5.000% | Quarterly | 12/20/2030 | EUR | 4360 | 1003 | $ | (130) | $ | 873 | $ | 0 |
| BPS | BPS | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | 5.000 | Quarterly | 12/20/2030 |  | 13030 | 2872 |  | (264) |  | 2608 |  | 0 |
| CBK | CBK | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | 5.000 | Quarterly | 12/20/2030 |  | 1220 | 276 |  | (32) |  | 244 |  | 0 |
| GST | GST | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | 5.000 | Quarterly | 12/20/2030 |  | 7400 | 1549 |  | (68) |  | 1481 |  | 0 |
| JPM | JPM | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | 5.000 | Quarterly | 12/20/2030 |  | 19160 | 4182 |  | (348) |  | 3834 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $9882 | 9882 | $(842) | (842) | $9040 | 9040 | $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** | **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 | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | Underlying<br>Reference | # of Units | # of Units | &nbsp;&nbsp; Financing Rate | &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) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| &nbsp;&nbsp; BPS | &nbsp;&nbsp; BPS | &nbsp;&nbsp; BPS | IBXXLLTR Index | IBXXLLTR Index | 64895 | 64895 | &nbsp;&nbsp; 1.230% (SOFR plus a specified spread) | &nbsp;&nbsp; 1.230% (SOFR plus a specified spread) | &nbsp;&nbsp; 1.230% (SOFR plus a specified spread) | Maturity | 06/22/2026 | 06/22/2026 | 14900 | $0 | 0 | $242 | 242 | $242 | 242 | $0 |
| &nbsp;&nbsp; MYC | &nbsp;&nbsp; MYC | &nbsp;&nbsp; MYC | IBXXLLTR Index | IBXXLLTR Index | 36645 | 36645 | &nbsp;&nbsp; 1.230% (SOFR plus a specified spread) | &nbsp;&nbsp; 1.230% (SOFR plus a specified spread) | &nbsp;&nbsp; 1.230% (SOFR plus a specified spread) | Maturity | 09/21/2026 | 09/21/2026 | 8300 | 62 | 62 | (11) | (11) | 51 | 51 | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | $62 | 62 | $231 | 231 | $293 | 293 | $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** | $**10727** | **10727** | $**(664)** | **(664)** | $**10092** | **10092** | $**(29)** |
| **(o)** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $2,921 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** |
| ◆ | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. |
| <sup>(1)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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 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>(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. |
| <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. |
| <sup>(5)</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. | 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. |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 2 | 13 | 28 | 45 | 69 | 76 | 82 | 89 | 97 | 109 | 126 | 139 | 149 | 160 | 180 | 204 |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | |
| Category and Subcategory | 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 3 | Level 3 | Fair Value<br>at 03/31/2026 | Fair Value<br>at 03/31/2026 |  |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | 0 | $227038 | 227038 | $110606 | 110606 | $ | 337644 |  |
| 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 | 0 | 0 | 1243708 | 1243708 | 35905 | 35905 |  | 1279613 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 | 0 | 0 | 2192398 | 2192398 | 2612 | 2612 |  | 2195010 |  |
| Utilities | Utilities | Utilities | Utilities | Utilities | 0 | 0 | 0 | 0 | 314011 | 314011 | 0 | 0 |  | 314011 |  |
| 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 |  |
| Arizona | Arizona | Arizona | Arizona | Arizona | 0 | 0 | 0 | 0 | 3164 | 3164 | 0 | 0 |  | 3164 |  |
| California | California | California | California | California | 0 | 0 | 0 | 0 | 296 | 296 | 0 | 0 |  | 296 |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 | 0 | 0 | 5074639 | 5074639 | 0 | 0 |  | 5074639 |  |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | 0 | 0 | 0 | 0 | 550380 | 550380 | 0 | 0 |  | 550380 |  |
| 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 | 779100 | 779100 | 125873 | 125873 |  | 904973 |  |
| 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 | 2700 | 2700 | 2700 | 2700 | 408479 | 408479 | 0 | 0 |  | 411179 |  |
| Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | Automobile Sequential | 0 | 0 | 0 | 0 | 552236 | 552236 | 0 | 0 |  | 552236 |  |
| CMBS Other | CMBS Other | CMBS Other | CMBS Other | CMBS Other | 0 | 0 | 0 | 0 | 116107 | 116107 | 0 | 0 |  | 116107 |  |
| Finance Consumer Loans | Finance Consumer Loans | Finance Consumer Loans | Finance Consumer Loans | Finance Consumer Loans | 0 | 0 | 0 | 0 | 1104 | 1104 | 0 | 0 |  | 1104 |  |
| Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | Home Equity Other | 0 | 0 | 0 | 0 | 380556 | 380556 | 0 | 0 |  | 380556 |  |
| Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | Home Equity Sequential | 0 | 0 | 0 | 0 | 2225 | 2225 | 0 | 0 |  | 2225 |  |
| Manufacturing House Sequential | Manufacturing House Sequential | Manufacturing House Sequential | Manufacturing House Sequential | Manufacturing House Sequential | 0 | 0 | 0 | 0 | 2237 | 2237 | 0 | 0 |  | 2237 |  |
| Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | Whole Loan Collateral | 0 | 0 | 0 | 0 | 129636 | 129636 | 0 | 0 |  | 129636 |  |
| Other ABS | Other ABS | Other ABS | Other ABS | Other ABS | 0 | 0 | 0 | 0 | 1842578 | 1842578 | 121913 | 121913 |  | 1964491 |  |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 0 | 0 | 0 | 0 | 885262 | 885262 | 12534 | 12534 |  | 897796 |  |
| 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 | 0 | 0 | 23652 | 23652 | 0 | 0 |  | 23652 |  |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 | 0 | 0 | 3317700 | 3317700 | 0 | 0 |  | 3317700 |  |
| Egypt Treasury Bills | Egypt Treasury Bills | Egypt Treasury Bills | Egypt Treasury Bills | Egypt Treasury Bills | 0 | 0 | 0 | 0 | 51 | 51 | 0 | 0 |  | 51 |  |
| Nigeria Treasury Bills | Nigeria Treasury Bills | Nigeria Treasury Bills | Nigeria Treasury Bills | Nigeria Treasury Bills | 0 | 0 | 0 | 0 | 18686 | 18686 | 0 | 0 |  | 18686 |  |
| South Africa Treasury Bills | South Africa Treasury Bills | South Africa Treasury Bills | South Africa Treasury Bills | South Africa Treasury Bills | 0 | 0 | 0 | 0 | 18378 | 18378 | 0 | 0 |  | 18378 |  |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 0 | 0 | 18601 | 18601 | 0 | 0 |  | 18601 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $2700 | 2700 | 2700 | 2700 | $18102222 | 18102222 | $409443 | 409443 | $ | 18514365 |  |
| **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** | **Short Sales, at Value - Liabilities** | **Short Sales, at Value - Liabilities** |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 | 0 | 0 | (806737) | (806737) | 0 | 0 |  | (806737) |  |
|  |  |  |  |  | $0 | 0 | 0 | 0 | $(806737) | (806737) | $0 | 0 | $ | (806737) |  |
| **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 | 2072 | 2072 | 2072 | 2072 | 32118 | 32118 | 0 | 0 |  | 34190 |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | 0 | 43481 | 43481 | 6 | 6 |  | 43487 |  |
|  |  |  |  |  | $2072 | 2072 | 2072 | 2072 | $75599 | 75599 | $6 | 6 | $ | 77677 |  |
| **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 | (1163) | (1163) | (1163) | (1163) | (4332) | (4332) | 0 | 0 |  | (5495) |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | 0 | 0 | 0 | 0 | (25422) | (25422) | 0 | 0 |  | (25422) |  |
|  |  |  |  |  | $(1163) | (1163) | (1163) | (1163) | $(29754) | (29754) | $0 | 0 | $ | (30917) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $909 | 909 | 909 | 909 | $45845 | 45845 | $6 | 6 | $ | 46760 |  |
| Totals | Totals | Totals | Totals | Totals | $3609 | 3609 | 3609 | 3609 | $17341330 | 17341330 | $409449 | 409449 | $ | 17754388 |  |
| **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** |
| Category and Subcategory | Beginning<br>Balance<br>at 06/30/2025 | Net<br>Purchases<sup>(1)</sup> | Net<br>Sales/Settlements<sup>(1)</sup> | 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>(2)</sup> | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(2)</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 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(2)</sup> |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | 86836 | $38905 | $(14769) | $ | 171 | $ | $364 | $ | (901) | $0 | 0 | $0 | 0 | $110606 | $0 |
| Corporate Bonds & Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Banking & Finance | 36690 | 11878 | (11629) |  | 0 |  | 0 |  | (1034) | 0 | 0 | 0 | 0 | 35905 | 0 |
| Industrials | 4518 | 1000 | (3485) |  | 0 |  | 0 |  | 579 | 0 | 0 | 0 | 0 | 2612 | 0 |
| Non-Agency Mortgage-Backed Securities | 2201 | 117932 | 0 |  | 1 |  | 0 |  | 5739 | 0 | 0 | 0 | 0 | 125873 | 0 |
| Asset-Backed Securities<sup>(3)</sup> |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Home Equity Other | 7336 | 0 | (7300) |  | 0 |  | 0 |  | (36) | 0 | 0 | 0 | 0 | 0 | 0 |

---

------

<br> Schedule of Investments PIMCO Multisector Bond Active Exchange - Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 4 | 12 | 13 | 30 | 39 | 42 | 45 | 75 | 89 | 103 | 126 | 162 | 180 | 200 | 204 |
|  | Other ABS |  | 27707 | 118509 |  |  | (23629) | 21 | 0 | (695) | 0 | 0 | 121913 |  | 0 |
| Sovereign Issues | Sovereign Issues | 0 | 0 | 12440 |  |  | 0 | 0 | 0 | 94 | 0 | 0 | 12534 |  | 0 |
| Short-Term Instruments | Short-Term Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Short-Term Notes |  | 2602 | 0 |  |  | (2600) | 0 | 0 | (2) | 0 | 0 | 0 |  | 0 |
|  |  | $167890 | 167890 | 300664 | $ | $ | $(63412) | $193 | $364 | $3744 | $0 | 0 | 409443 | $ | 0 |
| **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** |
| Over the counter | Over the counter | $21 | 21 | 0 | $ | $ | $(15) | $0 | $0 | $0 | $0 | 0 | 6 | $ | 0 |
| Totals | Totals | $167911 | 167911 | 300664 | $ | $ | $(63427) | $193 | $364 | $3744 | $0 | 0 | 409449 | $ | 0 |
| <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) |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | Ending<br>Balance<br>at 03/31/2026 | &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 | 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** |
| Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | $71565 | 71565 | 71565 | &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 | 4.270 - 12.687 | 4.270 - 12.687 | 7.205 | 7.205 |
|  |  |  |  | 31933 | 31933 | 31933 | &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 | 96.000 - 100.000 | 96.000 - 100.000 | 99.435 | 99.435 |
|  |  |  |  | 7108 | 7108 | 7108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 76.000 - 100.250 | 76.000 - 100.250 | 99.440 | 99.440 |
| 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 | 26056 | 26056 | 26056 | &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 | 4.775 - 6.961 | 4.775 - 6.961 | 6.028 | 6.028 |
|  |  |  |  | 9849 | 9849 | 9849 | &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 | 100.000 | 100.000 |  |  |
|  | Industrials | Industrials | Industrials | 2612 | 2612 | 2612 | &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 | 4.890 - 5.080 | 4.890 - 5.080 | 4.965 | 4.965 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 6760 | 6760 | 6760 | &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 | 5.342 - 6.273 | 5.342 - 6.273 | 5.637 | 5.637 |
|  |  |  |  | 6306 | 6306 | 6306 | &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 | 98.879 | 98.879 |  |  |
|  |  |  |  | 112807 | 112807 | 112807 | &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 | 100.000 | 100.000 |  |  |
| 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 |
|  | Other ABS | Other ABS | Other ABS | 6830 | 6830 | 6830 | &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 | 5.328 – 20.000 | 5.328 – 20.000 | 7.736 | 7.736 |
|  |  |  |  | 108781 | 108781 | 108781 | &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 | 89.281 – 16,363.460 | 89.281 – 16,363.460 | 98.345 | 98.345 |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | 12534 | 12534 | 12534 | &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 | 100.000 | 100.000 |  |  |
| **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** |
| Over the counter | Over the counter | Over the counter | Over the counter | 6 | 6 | 6 | &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 | 0.192 | 0.192 |  |  |
| Total | Total | Total | Total | $409449 | 409449 | 409449 |  |  |  |  |  |  |  |  |  |
| <sup>(1)</sup> | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. |
| <sup>(2)</sup> | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 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 March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. |
| <sup>(3)</sup> | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. | Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end. |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund March 31, 2026 (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 99.1% ¤** |  |  |
| **MUNICIPAL BONDS & NOTES 80.9%** |  |  |
| **ALABAMA 2.1%** |  |  |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2023**<br>5.500% due 10/01/2054 | $400 | $432 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2024** |  |  |
| 5.000% due 03/01/2055 | 1000 | 1059 |
| 5.000% due 10/01/2055 | 600 | 633 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2025**<br>5.000% due 12/01/2055 | 500 | 529 |
| **Black Belt Energy Gas District, Alabama Revenue Notes, Series 2025**<br>5.000% due 10/01/2035 | 1490 | 1553 |
| **Black Belt Energy Gas District, Alabama Revenue Notes, Series 2026**<br>5.000% due 07/01/2033 | 1100 | 1151 |
| **Energy Southeast A Cooperative District, Alabama Revenue Bonds, Series 2024**<br>5.250% due 07/01/2054 | 500 | 534 |
| **Mobile County, Alabama Industrial Development Authority Revenue Bonds, Series 2024**<br>5.000% due 06/01/2054 | 795 | 758 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2023**<br>5.000% due 01/01/2054 | 400 | 420 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2024**<br>5.000% due 11/01/2035 | 1400 | 1431 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2025** |  |  |
| 5.000% due 01/01/2056 | 1000 | 1006 |
| 5.250% due 03/01/2055 | 1500 | 1542 |
| 5.250% due 11/01/2055 | 300 | 324 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Notes, Series 2025**<br>5.000% due 11/01/2035 | 700 | 732 |
|  |  | 12104 |
| **ALASKA 0.0%** |  |  |
| **Municipality of Anchorage, Alaska Solid Waste Services Revenue Bonds, Series 2022**<br>5.250% due 11/01/2062 | 250 | 253 |
| **ARIZONA 1.1%** |  |  |
| **Arizona Industrial Development Authority Revenue Bonds, Series 2019**<br>2.700% due 02/01/2048 | 3000 | 3000 |
| **Arizona Industrial Development Authority Revenue Bonds, Series 2025**<br>5.125% due 01/01/2059 | 480 | 444 |
| **Chandler Industrial Development Authority, Arizona Revenue Bonds, Series 2007**<br>4.100% due 12/01/2037 | 500 | 506 |
| **Chandler Industrial Development Authority, Arizona Revenue Bonds, Series 2019**<br>4.000% due 06/01/2049 | 1000 | 1013 |
| **Phoenix Civic Improvement Corp. Arizona Revenue Bonds, Series 2023**<br>5.000% due 07/01/2042 | 1000 | 1085 |
|  |  | 6048 |
| **ARKANSAS 1.9%** |  |  |
| **Arkansas Development Finance Authority Revenue Bonds, Series 2023**<br>7.375% due 07/01/2048 | 500 | 541 |
| **Arkansas Development Finance Authority Revenue Bonds, Series 2025**<br>3.875% due 10/15/2065 | 4000 | 3983 |
| **Arkansas Development Finance Authority Revenue Bonds, Series 2026**<br>4.250% due 09/01/2046 | 6000 | 5965 |
| **County of Pulaski Hospital, Arkansas Revenue Bonds, Series 2023**<br>4.250% due 03/01/2048 | 500 | 469 |
|  |  | 10958 |
| **CALIFORNIA 4.3%** |  |  |
| **Anaheim Union High School District, California General Obligation Bonds, Series 2025**<br>4.375% due 08/01/2046 | 345 | 348 |
| **Burbank-Glendale-Pasadena Airport Authority Brick Campaign, California Revenue Bonds, (AGM Insured), Series 2024**<br>4.125% due 07/01/2041 | 1000 | 978 |
| **California Community Choice Financing Authority Revenue Bonds, Series 2023** |  |  |
| 5.000% due 02/01/2054 | 400 | 423 |
| 5.250% due 01/01/2054 | 250 | 264 |
| 5.250% due 11/01/2054 | 700 | 739 |
| 5.500% due 10/01/2054 | 200 | 218 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **California Community Choice Financing Authority Revenue Bonds, Series 2024** |  |  |
| 5.000% due 05/01/2054 | 800 | 844 |
| 5.000% due 01/01/2055 | 260 | 266 |
| 5.000% due 02/01/2055 | 1100 | 1183 |
| 5.000% due 11/01/2055 | 1205 | 1230 |
| **California Community Choice Financing Authority Revenue Bonds, Series 2025**<br>5.000% due 10/01/2055 | 900 | 909 |
| **California Community Housing Agency Revenue Bonds, Series 2022**<br>4.500% due 08/01/2052 | 100 | 74 |
| **California Municipal Finance Authority Revenue Bonds, (FNMA Insured),Series 2024**<br>4.450% due 12/01/2042 | 100 | 100 |
| **California Municipal Finance Authority Revenue Bonds, Series 2021**<br>4.000% due 11/01/2036 | 250 | 237 |
| **California Municipal Finance Authority Revenue Bonds, Series 2024**<br>6.000% due 01/01/2039 | 1000 | 1040 |
| **California Municipal Finance Authority Revenue Bonds, Series 2025**<br>3.998% due 11/20/2040 | 996 | 955 |
| **California State General Obligation Bonds, Series 2015**<br>3.875% due 12/01/2030 | 600 | 600 |
| **California State General Obligation Bonds, Series 2023**<br>4.000% due 09/01/2043 | 400 | 397 |
| **California Statewide Communities Development Authority Revenue Bonds, (AGM Insured), Series 2022**<br>5.375% due 08/15/2057 | 250 | 253 |
| **Central Valley Energy Authority, California Revenue Notes, Series 2026**<br>5.000% due 08/01/2034 | 600 | 632 |
| **CMFA Special Finance Agency, California Revenue Bonds, Series 2021**<br>4.000% due 08/01/2045 | 495 | 439 |
| **CSCDA Community Improvement Authority, California Revenue Bonds, Series 2022**<br>4.750% due 09/01/2062 (c) | 200 | 131 |
| **Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021** |  |  |
| 3.714% due 06/01/2041 | 300 | 238 |
| 3.850% due 06/01/2050 | 430 | 393 |
| 4.214% due 06/01/2050 | 200 | 152 |
| **Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2022**<br>5.000% due 06/01/2051 | 4245 | 4161 |
| **Irvine Facilities Financing Authority, California Special Tax Bonds, (BAM Insured), Series 2023**<br>4.000% due 09/01/2058 | 500 | 444 |
| **Irvine, California Special Tax Bonds, (AGM Insured),Series 2025**<br>5.000% due 09/01/2060 | 300 | 312 |
| **Los Angeles Department of Airports, California Revenue Notes, Series 2025**<br>5.000% due 05/15/2034 | 1630 | 1818 |
| **Sacramento County, California Special Tax Bonds, Series 2022**<br>5.000% due 09/01/2047 | 150 | 150 |
| **Sacramento, California Special Tax Bonds, Series 2021**<br>4.000% due 09/01/2046 | 1200 | 1066 |
| **San Joaquin Valley Clean Energy Authority, California Revenue Bonds, Series 2025**<br>5.500% due 01/01/2056 | 500 | 545 |
| **Tobacco Securitization Authority of Northern California Revenue Bonds, Series 2021**<br>0.000% due 06/01/2060 (b) | 1000 | 153 |
| **University of California Revenue Bonds, Series 2026**<br>5.000% due 11/15/2044 | 2390 | 2610 |
|  |  | 24302 |
| **COLORADO 2.9%** |  |  |
| **Aerotropolis Regional Transportation Authority, Colorado Revenue Bonds, Series 2024**<br>5.750% due 12/01/2054 | 500 | 493 |
| **Board of Governors of Colorado State University System Revenue Bonds, Series 2025**<br>2.600% due 03/01/2055 | 3240 | 3240 |
| **Colorado Bridge & Tunnel Enterprise Revenue Bonds, (AGC Insured), Series 2025**<br>5.250% due 12/01/2050 | 500 | 525 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2018**<br>4.000% due 11/15/2048 | 500 | 440 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2024**<br>5.000% due 11/15/2059 | 500 | 547 |
| **Colorado Health Facilities Authority Revenue Notes, Series 2025**<br>5.000% due 09/01/2035 | 4000 | 4404 |
| **Colorado School of Mines Revenue Bonds, Series 2024**<br>5.000% due 12/01/2054 | 500 | 511 |
| **Colorado State Certificates of Participation Bonds, Series 2017**<br>4.000% due 03/15/2042 | 1000 | 939 |
| **Colorado State Certificates of Participation Bonds, Series 2024**<br>5.000% due 11/01/2049 | 3000 | 3119 |
| **Denver Health & Hospital Authority, Colorado Revenue Bonds, Series 2025**<br>5.125% due 12/01/2050 | 1000 | 989 |
| **Denver, Colorado Airport System City & County Revenue Bonds, Series 2018**<br>5.000% due 12/01/2031 | 440 | 459 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Dominion Water & Sanitation District, Colorado Revenue Bonds, Series 2022**<br>5.875% due 12/01/2052 | 1000 | 1022 |
|  |  | 16688 |
| **CONNECTICUT 1.8%** |  |  |
| **Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2010**<br>2.550% due 07/01/2049 | 3500 | 3500 |
| **Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2016**<br>2.550% due 07/01/2042 | 5625 | 5625 |
| **Norwalk, Connecticut Housing Authority Bonds,Series 2024**<br>4.400% due 09/01/2042 | 1000 | 985 |
|  |  | 10110 |
| **DISTRICT OF COLUMBIA 1.5%** |  |  |
| **District of Columbia General Obligation Bonds, Series 2026** |  |  |
| 5.000% due 06/01/2045 | 3000 | 3218 |
| 5.000% due 06/01/2046 | 1000 | 1065 |
| **Washington Metropolitan Area Transit Authority Dedicated, District of Columbia Revenue Bonds, Series 2023**<br>5.000% due 07/15/2037 | 500 | 545 |
| **Washington Metropolitan Area Transit Authority Dedicated, District of Columbia Revenue Bonds, Series 2024**<br>5.000% due 07/15/2056 | 1000 | 1016 |
| **Washington Metropolitan Area Transit Authority Dedicated, District of Columbia Revenue Bonds, Series 2025**<br>5.250% due 07/15/2050 | 2500 | 2626 |
|  |  | 8470 |
| **FLORIDA 4.6%** |  |  |
| **Ave Maria Stewardship Community District, Florida Special Assessment Bonds, Series 2025**<br>5.300% due 05/01/2045 | 1215 | 1209 |
| **Collier County, Florida Industrial Development Authority Revenue Bonds, (AGM Insured), Series 2024**<br>5.000% due 10/01/2049 | 1000 | 1015 |
| **Connerton East Community Development District, Florida Special Assessment Bonds, Series 2025**<br>5.250% due 06/15/2045 | 670 | 674 |
| **Edgewater West Community Development District, Florida Special Assessment Bonds, Series 2024**<br>5.250% due 05/01/2044 | 500 | 493 |
| **Florida Atlantic University Finance Corp. Revenue Bonds, Series 2024**<br>5.000% due 07/01/2054 | 375 | 381 |
| **Florida Development Finance Corp. Revenue Bonds, (AGM Insured), Series 2024** |  |  |
| 5.000% due 07/01/2044 | 1900 | 1849 |
| 5.250% due 07/01/2047 | 1650 | 1621 |
| 5.250% due 07/01/2053 | 700 | 680 |
| **Florida Development Finance Corp. Revenue Bonds, Series 2024**<br>5.250% due 08/01/2049 | 2000 | 2042 |
| **Greater Orlando Aviation Authority, Florida Revenue Bonds, Series 2019**<br>4.000% due 10/01/2035 | 1650 | 1656 |
| **Hernando County, Florida Revenue Bonds, Series 2022**<br>5.250% due 06/01/2052 | 400 | 410 |
| **Jacksonville, Florida Revenue Bonds, Series 2023**<br>5.000% due 10/01/2043 | 510 | 547 |
| **Lakes of Sarasota Community Development District, Florida Revenue Bonds, Series 2018**<br>5.000% due 07/01/2041 | 3000 | 3056 |
| **Lee County Industrial Development Authority, Florida Revenue Bonds, Series 2026**<br>5.000% due 04/01/2065 | 1000 | 1105 |
| **Miami-Dade County, Florida Aviation Revenue Bonds, Series 2025**<br>5.000% due 10/01/2050 | 1000 | 1023 |
| **Midtown Miami Community Development District, Florida Special Assessment Bonds, Series 2014**<br>5.000% due 05/01/2029 | 410 | 410 |
| **New Port Corners Community Development District, Florida Special Assessment Bonds, Series 2025**<br>5.200% due 06/15/2045 | 500 | 497 |
| **Okaloosa County, Florida School Board Certificates of Participation Bonds, (AGC Insured), Series 2024**<br>5.000% due 10/01/2049 | 1200 | 1234 |
| **Palm Beach County, Florida Health Facilities Authority Revenue Bonds, Series 2019**<br>4.000% due 08/15/2049 | 1000 | 865 |
| **School Board of Miami-Dade County, Florida General Obligation Bonds, Series 2017**<br>4.000% due 03/15/2042 | 3000 | 2957 |
| **Sugarloaf Community Development District, Florida Special Assessment Bonds, Series 2026** |  |  |
| 5.375% due 12/15/2046 | 575 | 571 |
| 5.625% due 12/15/2055 | 750 | 726 |
| **Tampa-Hillsborough County, Florida Expressway Authority Revenue Bonds, Series 2017**<br>4.000% due 07/01/2042 | 500 | 488 |
| **Village Community Development District No. 15, Florida Special Assessment Notes, Series 2023**<br>4.250% due 05/01/2028 | 250 | 252 |
| **Village Community Development District No. 15, Florida Special Assessment Notes, Series 2024**<br>4.000% due 05/01/2034 | 200 | 200 |
|  |  | 25961 |
| **GEORGIA 2.7%** |  |  |
| **Columbia County Hospital Authority, Georgia Revenue Bonds, Series 2023**<br>5.750% due 04/01/2053 | 500 | 534 |
| **Main Street Energy Inc, Georgia Revenue Notes, Series 2025**<br>5.000% due 12/01/2033 | 1200 | 1258 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2024**<br>5.000% due 12/01/2054 | 300 | 320 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2025**<br>5.000% due 12/01/2055 | 3400 | 3572 |
| **Municipal Electric Authority of Georgia Revenue Bonds, Series 2019**<br>5.000% due 01/01/2049 | 9000 | 8997 |
| **Municipal Electric Authority of Georgia Revenue Bonds, Series 2022**<br>5.500% due 07/01/2063 | 500 | 509 |
|  |  | 15190 |
| **IDAHO 0.4%** |  |  |
| **Idaho Health Facilities Authority Revenue Bonds, Series 2025**<br>5.000% due 03/01/2040 | 2000 | 2175 |
| **Spring Valley Community Infrastructure District No 1, Idaho Special Assessment Bonds, Series 2021**<br>3.750% due 09/01/2051 | 180 | 172 |
|  |  | 2347 |
| **ILLINOIS 3.9%** |  |  |
| **Chicago Board of Education, Illinois General Obligation Bonds, Series 2017**<br>5.000% due 12/01/2036 | 1300 | 1255 |
| **Chicago Board of Education, Illinois General Obligation Bonds, Series 2025**<br>5.000% due 12/01/2040 | 2100 | 2030 |
| **Chicago O'Hare International Airport, Illinois Revenue Bonds, Series 2024** |  |  |
| 5.000% due 01/01/2038 | 2500 | 2657 |
| 5.000% due 01/01/2048 | 500 | 511 |
| **DeKalb County, Illinois Community Unit School District No 428, DeKalb General Obligation Debt Certificates Bonds, Series 2023**<br>5.000% due 01/01/2041 | 500 | 518 |
| **Du Page & Will Counties Community School District No 204 Indian Prairie, Illinois General Obligation Bonds, Series 2025**<br>5.000% due 01/15/2040 | 300 | 324 |
| **Illinois Finance Authority Revenue Bonds, Series 2010**<br>4.800% due 12/01/2043 | 600 | 604 |
| **Illinois Finance Authority Revenue Bonds, Series 2014**<br>4.000% due 08/01/2038 | 500 | 477 |
| **Illinois Finance Authority Revenue Bonds, Series 2016**<br>5.000% due 02/15/2041 | 500 | 507 |
| **Illinois Finance Authority Revenue Bonds, Series 2018**<br>5.000% due 05/15/2043 | 1600 | 1629 |
| **Illinois Finance Authority Revenue Bonds, Series 2025**<br>5.000% due 08/15/2043 | 500 | 530 |
| **Illinois Sales Tax State Revenue Notes, Series 2021**<br>5.000% due 06/15/2031 | 1000 | 1096 |
| **Illinois State General Obligation Bonds, Series 2016** |  |  |
| 4.000% due 06/01/2033 | 1000 | 1000 |
| 4.000% due 06/01/2037 | 300 | 292 |
| **Illinois State General Obligation Bonds, Series 2024** |  |  |
| 5.250% due 05/01/2044 | 2000 | 2093 |
| 5.250% due 05/01/2045 | 1000 | 1038 |
| **Illinois State General Obligation Bonds, Series 2025**<br>5.000% due 09/01/2042 | 1400 | 1460 |
| **Illinois State Toll Highway Authority Revenue Bonds, Series 2020**<br>5.000% due 01/01/2045 | 1250 | 1294 |
| **Illinois State Toll Highway Authority Revenue Bonds, Series 2021**<br>5.000% due 01/01/2046 | 1955 | 2018 |
| **Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2018**<br>5.000% due 01/01/2037 | 1000 | 1020 |
|  |  | 22353 |
| **INDIANA 0.9%** |  |  |
| **Indiana Finance Authority Revenue Bonds, (AGC Insured), Series 2025**<br>5.928% due 07/01/2053 | 550 | 545 |
| **Indiana Finance Authority Revenue Bonds, Series 2012**<br>4.250% due 11/01/2030 | 1750 | 1796 |
| **Indiana Finance Authority Revenue Bonds, Series 2025**<br>5.000% due 10/01/2063 | 500 | 545 |
| **Indiana Housing & Community Development Authority Revenue Bonds, Series 2016**<br>6.250% due 07/01/2056 | 400 | 381 |
| **Indianapolis Local Public Improvement Bond Bank, Indiana Revenue Bonds, Series 2023**<br>5.750% due 03/01/2043 | 300 | 316 |
| **Indianapolis, Indiana Revenue Bonds, Series 2016**<br>6.250% due 07/01/2056 | 400 | 383 |
| **Mount Vernon, Indiana Revenue Bonds, Series 2015**<br>4.250% due 09/01/2055 | 100 | 101 |
| **Warrick County, Indiana Revenue Bonds, Series 2015**<br>4.250% due 09/01/2055 | 100 | 101 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Whiting, Indiana Revenue Bonds, Series 2016**<br>4.400% due 03/01/2046 | 1000 | 1042 |
|  |  | 5210 |
| **IOWA 0.1%** |  |  |
| **Iowa Finance Authority Midwestern Disaster Area Revenue Refunding Bonds, Series 2022**<br>4.000% due 12/01/2050 | 500 | 533 |
| **KENTUCKY 1.7%** |  |  |
| **Kentucky Bond Development Corp. Revenue Bonds, Series 2025**<br>5.000% due 08/15/2055 | 600 | 655 |
| **Kentucky Economic Development Finance Authority Revenue Bonds, Series 2015**<br>5.000% due 07/01/2040 | 500 | 500 |
| **Kentucky Public Energy Authority Revenue Bonds, Series 2024**<br>5.000% due 01/01/2055 | 300 | 318 |
| **Kentucky Public Energy Authority Revenue Notes, Series 2025**<br>5.000% due 05/01/2036 | 5000 | 5267 |
| **Kentucky State Property & Building Commission Revenue Bonds,Series 2024**<br>4.375% due 09/01/2040 | 645 | 672 |
| **Louisville/Jefferson County Metropolitan Government, Kentucky Revenue Bonds, Series 2023**<br>5.000% due 10/01/2038 | 700 | 749 |
| **Louisville/Jefferson County Metropolitan Government, Kentucky Revenue Bonds, Series 2025**<br>5.000% due 05/15/2050 | 400 | 414 |
| **University of Kentucky Revenue Bonds, Series 2025**<br>5.250% due 04/01/2050 | 1000 | 1041 |
|  |  | 9616 |
| **LOUISIANA 1.1%** |  |  |
| **Louisiana Local Government Environmental Facilities & Community Development Auth Revenue Notes, Series 2022**<br>5.000% due 08/15/2026 | 475 | 479 |
| **Louisiana Public Facilities Authority Revenue Bonds, (AGM Insured), Series 2025**<br>4.750% due 07/01/2065 | 3500 | 3309 |
| **Louisiana Stadium and Exposition District Revenue Bonds, Series 2023**<br>5.000% due 07/01/2040 | 250 | 267 |
| **New Orleans Aviation Board, Louisiana Revenue Notes, Series 2024**<br>5.000% due 01/01/2033 | 2000 | 2173 |
|  |  | 6228 |
| **MARYLAND 0.7%** |  |  |
| **Baltimore County, Maryland General Obligation Bonds , Series 2026**<br>5.000% due 03/01/2038 | 1600 | 1818 |
| **Maryland Health & Higher Educational Facilities Authority Revenue Bonds, (AGC Insured), Series 2025**<br>5.000% due 07/01/2043 | 1000 | 1069 |
| **Maryland Health & Higher Educational Facilities Authority Revenue Bonds, Series 2025**<br>5.000% due 07/01/2042 | 870 | 934 |
|  |  | 3821 |
| **MASSACHUSETTS 1.6%** |  |  |
| **Commonwealth of Massachusetts General Obligation Bonds, Series 2023**<br>5.000% due 10/01/2051 | 2500 | 2577 |
| **Commonwealth of Massachusetts General Obligation Bonds, Series 2024** |  |  |
| 5.000% due 08/01/2054 | 850 | 874 |
| 5.000% due 12/01/2054 | 500 | 514 |
| **Commonwealth of Massachusetts General Obligation Bonds, Series 2025**<br>5.000% due 08/01/2048 | 1000 | 1048 |
| **Commonwealth of Massachusetts Transportation Fund Revenue Bonds, Series 2022**<br>5.000% due 06/01/2050 | 1500 | 1540 |
| **Massachusetts Development Finance Agency Revenue Bonds, (AGM Insured), Series 2025**<br>5.000% due 07/01/2050 | 1000 | 1034 |
| **Massachusetts Development Finance Agency Revenue Bonds, Series 2024**<br>2.350% due 07/01/2052 | 1000 | 1000 |
| **University of Massachusetts Building Authority Revenue Bonds, Series 2017**<br>5.000% due 11/01/2036 | 500 | 513 |
|  |  | 9100 |
| **MICHIGAN 2.1%** |  |  |
| **Detroit, Michigan General Obligation Bonds, Series 2014**<br>4.000% due 04/01/2044 | 249 | 192 |
| **Detroit, Michigan General Obligation Bonds, Series 2023**<br>6.000% due 05/01/2039 | 300 | 337 |
| **Detroit, Michigan Sewage Disposal System Revenue Bonds, (NPFGC Insured), Series 2001**<br>5.500% due 07/01/2029 | 345 | 360 |
| **Great Lakes Water Authority Sewage Disposal System, Michigan Revenue Bonds, Series 2023**<br>5.250% due 07/01/2053 | 750 | 774 |
| **Karegnondi Water Authority, Michigan Revenue Bonds, (BAM Insured), Series 2024**<br>5.000% due 11/01/2041 | 1000 | 1088 |
| **Michigan Finance Authority Revenue Bonds, Series 2017**<br>4.000% due 12/01/2036 | 1775 | 1752 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Michigan Finance Authority Revenue Bonds, Series 2019** |  |  |
| 4.000% due 02/15/2047 | 1500 | 1318 |
| 4.000% due 12/01/2048 | 1000 | 872 |
| **Michigan Finance Authority Revenue Bonds, Series 2020** |  |  |
| 0.000% due 06/01/2065 (b) | 2500 | 241 |
| 5.000% due 06/01/2040 | 750 | 772 |
| **Michigan Finance Authority Revenue Bonds, Series 2024**<br>5.500% due 02/28/2057 | 500 | 509 |
| **Michigan State Hospital Finance Authority Revenue Bonds, Series 2025**<br>5.000% due 08/15/2055 | 1500 | 1661 |
| **Northern Michigan University Revenue Bonds, Series 2025** |  |  |
| 5.250% due 06/01/2044 | 600 | 649 |
| 5.500% due 06/01/2050 | 650 | 691 |
| **Wayne County, Michigan Airport Authority Revenue Notes, (AGM Insured), Series 2023**<br>5.000% due 12/01/2031 | 750 | 819 |
|  |  | 12035 |
| **MINNESOTA 1.8%** |  |  |
| **Duluth Economic Development Authority, Minnesota Revenue Bonds, Series 2018**<br>5.000% due 02/15/2048 | 500 | 500 |
| **Minneapolis, Minnesota Revenue Bonds, Series 2018** |  |  |
| 5.000% due 11/15/2036 | 500 | 511 |
| 5.000% due 11/15/2049 | 870 | 844 |
| **Minnesota Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>6.500% due 01/01/2055 | 470 | 526 |
| **Minnesota State General Obligation Bonds, Series 2024**<br>5.000% due 08/01/2037 | 6200 | 6946 |
| **Rochester, Minnesota Revenue Bonds, Series 2022**<br>4.000% due 11/15/2039 | 500 | 506 |
| **St Cloud, Minnesota Revenue Bonds, Series 2019**<br>5.000% due 05/01/2048 | 500 | 504 |
|  |  | 10337 |
| **MISSISSIPPI 0.1%** |  |  |
| **Mississippi Development Bank Revenue Bonds, Series 2025**<br>5.000% due 03/01/2037 | 300 | 324 |
| **MISSOURI 0.6%** |  |  |
| **Health & Educational Facilities Authority of the State of Missouri Revenue Bonds, Series 2012**<br>4.000% due 11/15/2042 | 500 | 476 |
| **Health & Educational Facilities Authority of the State of Missouri Revenue Bonds, Series 2025**<br>5.000% due 11/15/2044 | 400 | 420 |
| **Kansas City Industrial Development Authority, Missouri Revenue Bonds, Series 2019**<br>5.000% due 03/01/2054 | 2000 | 1968 |
| **Missouri Housing Development Commission Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.250% due 05/01/2056 | 300 | 334 |
|  |  | 3198 |
| **MULTI-STATE 2.5%** |  |  |
| **Douglas County, Georgia Housing Authority Multifamly Tax-Exempt Bonds, Series 2024**<br>4.375% due 04/01/2043 | 2000 | 1956 |
| **FHLMC Multifamily VRD Certificates, New York Revenue Bonds, Series 2025**<br>4.604% due 06/25/2042 | 399 | 409 |
| **FHLMC Multifamily VRD Certificates, Revenue Bonds, Series 2025** |  |  |
| 4.534% due 11/25/2042 | 2484 | 2541 |
| 4.869% due 01/25/2043 | 3383 | 3524 |
| **Freddie Mac Multifamily ML Certificates, Revenue Bonds, Series 2023** |  |  |
| 4.033% due 12/25/2036 | 675 | 671 |
| 4.144% due 01/25/2040 | 389 | 386 |
| 4.555% due 08/25/2040 | 983 | 989 |
| **Freddie Mac Multifamily ML Certificates, Revenue Bonds, Series 2024** |  |  |
| 4.291% due 04/25/2042 ~ | 993 | 1041 |
| 4.326% due 08/25/2041 ~ | 2182 | 2239 |
| 4.686% due 10/25/2040 | 690 | 700 |
|  |  | 14456 |
| **NEBRASKA 0.0%** |  |  |
| **Nebraska Investment Finance Authority Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>5.000% due 03/01/2049 | 250 | 254 |
| **NEVADA 0.6%** |  |  |
| **Las Vegas Valley Water District, Nevada General Obligation Bonds, Series 2022**<br>4.000% due 06/01/2047 | 3000 | 2796 |
| **Las Vegas, Nevada Revenue Bonds, Series 2016**<br>4.375% due 06/15/2035 | 300 | 296 |
| **Reno, Nevada Revenue Bonds, Series 2018**<br>0.000% due 07/01/2058 (b) | 500 | 78 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Washoe County, Nevada Revenue Bonds, Series 2016**<br>4.125% due 03/01/2036 | 500 | 507 |
|  |  | 3677 |
| **NEW HAMPSHIRE 1.2%** |  |  |
| **New Hampshire Business Finance Authority Affordable Housing Bonds, Series 2024**<br>4.150% due 10/20/2040 | 598 | 592 |
| **New Hampshire Business Finance Authority Revenue Bonds, Series 2023**<br>3.875% due 01/20/2038 | 484 | 463 |
| **New Hampshire Business Finance Authority Revenue Bonds, Series 2025** |  |  |
| 3.824% due 11/20/2042 | 1391 | 1337 |
| 3.922% due 01/20/2041 ~ | 1486 | 1440 |
| 4.946% due 02/20/2041 | 1396 | 1430 |
| **New Hampshire Business Finance Authority Revenue Notes, Series 2022**<br>4.000% due 12/01/2028 | 1000 | 1013 |
| **New Hampshire Housing Finance Authority Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>6.500% due 07/01/2055 | 580 | 650 |
|  |  | 6925 |
| **NEW JERSEY 0.8%** |  |  |
| **New Jersey Educational Facilities Authority Revenue Bonds, Series 2023**<br>4.625% due 09/01/2048 | 250 | 251 |
| **New Jersey Housing & Mortgage Finance Agency Revenue Bonds, (FNMA Insured), Series 2025**<br>4.550% due 05/01/2041 | 995 | 1007 |
| **New Jersey Housing & Mortgage Finance Agency Revenue Bonds, Series 2025**<br>6.500% due 04/01/2056 | 400 | 447 |
| **New Jersey Transportation Trust Fund Authority Revenue Bonds, Series 2018**<br>5.000% due 12/15/2036 | 1000 | 1041 |
| **Passaic County, New Jersey Improvement Authority Revenue Notes, Series 2025**<br>4.125% due 07/01/2033 | 900 | 909 |
| **Tobacco Settlement Financing Corp. New Jersey Revenue Bonds, Series 2018**<br>5.000% due 06/01/2046 | 700 | 682 |
|  |  | 4337 |
| **NEW MEXICO 0.1%** |  |  |
| **Farmington, New Mexico Revenue Bonds, Series 2010**<br>3.875% due 06/01/2040 | 500 | 512 |
| **New Mexico Hospital Equipment Loan Council Revenue Bonds, Series 2017**<br>4.000% due 08/01/2039 | 350 | 327 |
|  |  | 839 |
| **NEW YORK 11.6%** |  |  |
| **Build NYC Resource Corp. New York Revenue Bonds, Series 2024**<br>4.000% due 09/01/2041 | 1725 | 1640 |
| **New York City, New York General Obligation Bonds, Series 2022**<br>5.250% due 10/01/2041 | 250 | 269 |
| **New York City, New York General Obligation Bonds, Series 2024**<br>5.250% due 03/01/2053 | 500 | 517 |
| **New York City, New York Housing Development Corp. Revenue Bonds, Series 2025**<br>4.600% due 11/01/2045 | 250 | 250 |
| **New York City, New York Municipal Water Finance Authority Revenue Bonds, Series 2022** |  |  |
| 2.650% due 06/15/2044 | 700 | 700 |
| 2.850% due 06/15/2033 | 6840 | 6840 |
| **New York City, New York Municipal Water Finance Authority Revenue Bonds, Series 2023**<br>5.250% due 06/15/2048 | 200 | 211 |
| **New York City, New York Municipal Water Finance Authority Revenue Bonds, Series 2024** |  |  |
| 5.000% due 06/15/2051 | 2000 | 2059 |
| 5.250% due 06/15/2054 | 500 | 521 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2022**<br>5.500% due 11/01/2045 | 500 | 536 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2025** |  |  |
| 5.000% due 05/01/2051 | 1295 | 1332 |
| 5.000% due 11/01/2053 | 900 | 922 |
| 5.250% due 11/01/2045 | 5000 | 5387 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2026**<br>5.000% due 02/01/2045 | 1500 | 1588 |
| **New York City, New York Transitional Finance Authority Revenue Bonds, Series 2024** |  |  |
| 5.000% due 05/01/2043 | 1500 | 1603 |
| 5.000% due 05/01/2044 | 1300 | 1379 |
| 5.250% due 05/01/2048 | 8000 | 8415 |
| **New York Energy Finance Development Corp. Revenue Bonds, Series 2025**<br>5.000% due 07/01/2056 | 1135 | 1159 |
| **New York Liberty Development Corp. Revenue Bonds, Series 2014** |  |  |
| 5.000% due 11/15/2044 | 1650 | 1650 |
| 5.150% due 11/15/2034 | 235 | 235 |
| **New York Power Authority Revenue Bonds, (AGM Insured), Series 2023**<br>5.000% due 11/15/2038 | 1000 | 1117 |
| **New York State Dormitory Authority Revenue Bonds, Series 2020**<br>5.000% due 07/01/2050 | 500 | 511 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **New York State Dormitory Authority Revenue Bonds, Series 2022**<br>5.000% due 03/15/2041 | 500 | 530 |
| **New York State Dormitory Authority Revenue Bonds, Series 2024** |  |  |
| 4.000% due 05/01/2038 | 750 | 739 |
| 5.000% due 03/15/2049 | 3675 | 3811 |
| 5.000% due 03/15/2055 | 500 | 512 |
| **New York State Dormitory Authority Revenue Bonds, Series 2025**<br>5.000% due 03/15/2051 | 5000 | 5145 |
| **New York State Dormitory Authority Revenue Bonds, Series 2026**<br>5.000% due 03/15/2053 | 1400 | 1436 |
| **New York State Urban Development Corp. Revenue Bonds, Series 2023**<br>5.000% due 03/15/2053 | 1500 | 1534 |
| **New York State Urban Development Corp. Revenue Bonds, Series 2024**<br>5.000% due 03/15/2048 | 875 | 908 |
| **New York Transportation Development Corp. Revenue Bonds, (AGM Insured), Series 2023**<br>5.500% due 06/30/2044 | 500 | 524 |
| **New York Transportation Development Corp. Revenue Bonds, (AGM Insured), Series 2024**<br>5.000% due 06/30/2054 | 1600 | 1586 |
| **New York Transportation Development Corp. Revenue Bonds, (AGM Insured), Series 2025**<br>5.500% due 06/30/2059 | 1950 | 2004 |
| **New York Transportation Development Corp. Revenue Bonds, (BAM Insured), Series 2024**<br>5.500% due 06/30/2060 | 400 | 410 |
| **New York Transportation Development Corp. Revenue Bonds, Series 2023** |  |  |
| 5.625% due 04/01/2040 | 500 | 526 |
| 6.000% due 04/01/2035 | 250 | 274 |
| **New York Transportation Development Corp. Revenue Bonds, Series 2025**<br>6.000% due 06/30/2040 | 300 | 335 |
| **New York Transportation Development Corp. Revenue Notes, Series 2018**<br>5.000% due 01/01/2027 | 250 | 253 |
| **New York Transportation Development Corp. Revenue Notes, Series 2020**<br>4.000% due 10/01/2030 | 550 | 559 |
| **Onondaga Civic Development Corp. New York Revenue Bonds, Series 2025**<br>5.250% due 12/01/2043 | 1325 | 1471 |
| **Port Authority of New York & New Jersey Revenue Notes, Series 2024**<br>5.000% due 09/01/2034 | 500 | 556 |
| **Riverhead IDA Economic Job Development Corp. New York Revenue Bonds, (FNMA Insured), Series 2023**<br>4.500% due 02/01/2041 | 980 | 984 |
| **Suffolk Tobacco Asset Securitization Corp. New York Revenue Bonds, Series 2021** |  |  |
| 0.000% due 06/01/2066 (b) | 1500 | 127 |
| 4.000% due 06/01/2050 | 300 | 246 |
| **Town of Hempstead, New York General Obligation Bonds, Series 2024**<br>4.000% due 05/01/2047 | 500 | 483 |
| **Triborough Bridge & Tunnel Authority, New York Revenue Bonds, Series 2024**<br>5.250% due 05/15/2054 | 500 | 522 |
| **Triborough Bridge & Tunnel Authority, New York Revenue Bonds, Series 2025**<br>5.000% due 12/01/2045 | 1700 | 1802 |
|  |  | 66118 |
| **NORTH CAROLINA 0.4%** |  |  |
| **Inlivian, North Carolina Revenue Bonds, (FNMA Insured), Series 2024**<br>4.450% due 06/01/2041 | 986 | 947 |
| **North Carolina State Revenue Bonds, Series 2021**<br>4.000% due 03/01/2035 | 1000 | 1030 |
|  |  | 1977 |
| **NORTH DAKOTA 0.1%** |  |  |
| **Grand Forks, North Dakota Revenue Bonds, (AGM Insured), Series 2023**<br>5.000% due 12/01/2041 | 525 | 553 |
| **OHIO 3.2%** |  |  |
| **Allen County, Ohio Hospital Facilities Revenue Bonds, Series 2017**<br>5.000% due 08/01/2042 | 500 | 508 |
| **Allen County, Ohio Hospital Facilities Revenue Bonds, Series 2025**<br>5.000% due 11/01/2041 | 1000 | 1060 |
| **Buckeye Tobacco Settlement Financing Authority, Ohio Revenue Bonds, Series 2020** |  |  |
| 0.000% due 06/01/2057 (b) | 5000 | 366 |
| 4.000% due 06/01/2038 | 1000 | 995 |
| 4.000% due 06/01/2048 | 1100 | 922 |
| 5.000% due 06/01/2055 | 5650 | 4562 |
| **Columbus Regional Airport Authority, Ohio Revenue Bonds, Series 2025**<br>5.000% due 01/01/2036 | 1600 | 1742 |
| **Cuyahoga County, Ohio Revenue Bonds, Series 2017**<br>5.000% due 02/15/2057 | 500 | 447 |
| **Hamilton County, Ohio Revenue Bonds, Series 2021**<br>2.800% due 08/15/2051 | 1820 | 1820 |
| **Ohio Air Quality Development Authority Revenue Bonds, Series 2019**<br>5.000% due 07/01/2049 | 400 | 363 |
| **Ohio Air Quality Development Authority Revenue Bonds, Series 2022**<br>4.250% due 11/01/2039 | 500 | 504 |
| **Ohio Air Quality Development Authority Revenue Bonds, Series 2026**<br>4.350% due 06/30/2040 | 550 | 541 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Ohio Higher Educational Facility Commission Revenue Bonds, Series 2025**<br>5.000% due 02/01/2037 | 700 | 774 |
| **Ohio Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>6.250% due 03/01/2055 | 2210 | 2421 |
| **Ohio Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>4.150% due 09/01/2040 | 300 | 298 |
| **Port of Greater Cincinnati Development Authority, Ohio Revenue Bonds, (AGM Insured), Series 2024**<br>5.250% due 12/01/2048 | 750 | 783 |
|  |  | 18106 |
| **OKLAHOMA 0.1%** |  |  |
| **Oklahoma Turnpike Authority Revenue Bonds, Series 2023**<br>5.500% due 01/01/2053 | 600 | 631 |
| **OREGON 0.4%** |  |  |
| **Medford Hospital Facilities Authority, Oregon Revenue Bonds, Series 2020**<br>5.000% due 08/15/2038 | 1000 | 1043 |
| **Oregon State General Obligation Bonds, Series 2022**<br>2.700% due 06/01/2045 | 1100 | 1100 |
|  |  | 2143 |
| **PENNSYLVANIA 2.9%** |  |  |
| **Allegheny County, Pennsylvania Sanitary Authority Revenue Bonds, Series 2024**<br>5.000% due 12/01/2043 | 700 | 742 |
| **Beaver County, Pennsylvania Economic Development Authority Revenue Bonds, Series 2006**<br>4.750% due 01/01/2035 | 965 | 1002 |
| **Bucks County, Pennsylvania Industrial Development Authority Revenue Bonds, Series 2021** |  |  |
| 4.000% due 07/01/2046 | 200 | 176 |
| 5.000% due 07/01/2040 | 3000 | 3065 |
| 5.000% due 07/01/2041 | 1225 | 1249 |
| **Commonwealth Financing Authority, Pennsylvania Revenue Bonds, (AGM Insured), Series 2018**<br>4.000% due 06/01/2039 | 250 | 240 |
| **Lehigh County, Pennsylvania Revenue Bonds, Series 2019**<br>3.520% (MUNIPSA) due 08/15/2038 ~(e) | 940 | 928 |
| **Northampton County, Pennsylvania General Purpose Authority Revenue Bonds, Series 2024**<br>2.700% due 08/15/2054 | 2500 | 2500 |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, (AGM Insured), Series 2022**<br>5.000% due 12/31/2057 | 300 | 300 |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, Series 2015** |  |  |
| 5.000% due 12/31/2030 | 250 | 251 |
| 5.000% due 12/31/2038 | 500 | 501 |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, Series 2022**<br>5.500% due 06/30/2039 | 500 | 535 |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, Series 2025** |  |  |
| 2.875% due 06/01/2049 | 700 | 700 |
| 5.000% due 03/15/2060 | 1000 | 1088 |
| **Pennsylvania Higher Educational Facilities Authority Revenue Bonds, Series 2024**<br>5.250% due 11/01/2040 | 1500 | 1610 |
| **Pennsylvania Housing Finance Agency Revenue Bonds, (FNMA Insured), Series 2025**<br>4.900% due 06/01/2041 | 1000 | 1006 |
| **Pennsylvania Housing Finance Agency Revenue Bonds, Series 2024** |  |  |
| 6.000% due 10/01/2054 | 195 | 211 |
| 6.250% due 10/01/2054 | 195 | 213 |
|  |  | 16317 |
| **PUERTO RICO 2.3%** |  |  |
| **Children's Trust Fund, Puerto Rico Revenue Bonds, Series 2005**<br>0.000% due 05/15/2050 (b) | 2000 | 400 |
| **Commonwealth of Puerto Rico Bonds, Series 2022** |  |  |
| 0.000% due 11/01/2043 | 222 | 149 |
| 0.000% due 11/01/2051 | 1823 | 1265 |
| **GDB Debt Recovery Authority of Puerto Rico Revenue Bonds, Series 2018**<br>7.500% due 08/20/2040 | 292 | 287 |
| **Puerto Rico Electric Power Authority Revenue Bonds, (FGIC Insured), Series 2007**<br>5.250% due 07/01/2034 ^(a) | 1000 | 996 |
| **Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2018** |  |  |
| 0.000% due 07/01/2046 (b) | 16700 | 5881 |
| 0.000% due 07/01/2051 (b) | 5400 | 1384 |
| 5.000% due 07/01/2058 | 1750 | 1666 |
| **Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2019** |  |  |
| 4.329% due 07/01/2040 | 600 | 592 |
| 4.550% due 07/01/2040 | 250 | 249 |
|  |  | 12869 |
| **RHODE ISLAND 0.2%** |  |  |
| **Tobacco Settlement Financing Corp. Rhode Island Revenue Bonds, Series 2015** |  |  |
| 5.000% due 06/01/2040 | 750 | 750 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 5.000% due 06/01/2050 | 200 | 196 |
|  |  | 946 |
| **SOUTH CAROLINA 1.0%** |  |  |
| **Columbia, South Carolina Waterworks & Sewer System Revenue Bonds, Series 2022**<br>4.250% due 02/01/2041 | 625 | 635 |
| **Patriots Energy Group Financing Agency, South Carolina Revenue Bonds, Series 2023**<br>5.250% due 02/01/2054 | 200 | 214 |
| **South Carolina Jobs-Economic Development Authority Revenue Bonds, Series 2025**<br>5.500% due 10/01/2045 | 750 | 760 |
| **South Carolina Public Service Authority Revenue Bonds, Series 2024** |  |  |
| 5.250% due 12/01/2049 | 1300 | 1366 |
| 5.500% due 12/01/2054 | 1050 | 1110 |
| **Spartanburg Regional Health Services District, South Carolina Revenue Bonds, Series 2017**<br>5.000% due 04/15/2048 | 1300 | 1308 |
|  |  | 5393 |
| **SOUTH DAKOTA 0.1%** |  |  |
| **South Dakota Housing Development Authority Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>4.500% due 11/01/2045 | 500 | 495 |
| **TENNESSEE 0.5%** |  |  |
| **Rutherford County, Tennessee Health & Educational Facilities Board Revenue Bonds, Series 2025**<br>5.000% due 11/15/2048 | 900 | 973 |
| **Tennergy Corp. Tennessee Revenue Bonds, Series 2021**<br>4.000% due 12/01/2051 | 1000 | 1010 |
| **Tennessee Housing Development Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.000% due 01/01/2056 | 995 | 1089 |
|  |  | 3072 |
| **TEXAS 11.4%** |  |  |
| **Aledo Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023**<br>5.000% due 02/15/2048 | 100 | 103 |
| **Arlington Higher Education Finance Corp. Texas Revenue Bonds, (PSF Insured), Series 2024** |  |  |
| 4.125% due 06/15/2054 | 450 | 391 |
| 4.125% due 08/15/2054 | 500 | 434 |
| **Arlington Higher Education Finance Corp. Texas Revenue Bonds, (PSF Insured), Series 2025**<br>4.500% due 08/15/2050 | 1500 | 1442 |
| **Austin Affordable PFC Inc., Texas Revenue Notes, Series 2024**<br>4.500% due 03/01/2043 | 500 | 495 |
| **Austin, Texas Water & Wastewater System Revenue Bonds, Series 2024**<br>5.000% due 11/15/2049 | 3000 | 3112 |
| **Barbers Hill Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2024**<br>4.250% due 02/15/2054 | 300 | 276 |
| **City of Denton, Texas General Obligation Bonds, Series 2024**<br>5.000% due 02/15/2036 | 2675 | 2984 |
| **City of Kyle, Texas , General Obligation Bonds, (AGM Insured), Series 2025**<br>5.000% due 08/15/2055 | 1100 | 1119 |
| **Clifton Higher Education Finance Corp. Texas Revenue Bonds, (PSF Insured), Series 2025**<br>4.375% due 02/15/2042 | 700 | 697 |
| **Crandall, Texas Special Assessment Bonds, Series 2025**<br>5.250% due 09/15/2045 | 1000 | 997 |
| **Dallas Fort Worth International Airport, Texas Revenue Bonds, Series 2025**<br>5.250% due 11/01/2042 | 1500 | 1613 |
| **Dallas Housing Finance Corp. Texas Revenue Bonds, Series 2024**<br>4.350% due 10/01/2041 | 500 | 489 |
| **Dallas Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025**<br>5.000% due 02/15/2055 | 1000 | 1088 |
| **Dallas Metrocare Services, Texas Revenue Bonds, Series 2025**<br>5.250% due 11/01/2050 | 2350 | 2434 |
| **Denton Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023**<br>5.000% due 08/15/2053 | 1500 | 1528 |
| **Denton, Texas Essential Investments Public Facility Corp.**<br>6.697% due 01/01/2059 « | 1995 | 1944 |
| **EP Essential Housing WF PFC, Texas Revenue Notes, Series 2024**<br>4.250% due 12/01/2034 | 500 | 491 |
| **Everman Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2024**<br>4.000% due 02/15/2049 | 500 | 457 |
| **Garland Housing Finance Corp. Texas Revenue Bonds, (FNMA Insured), Series 2024**<br>4.610% due 01/01/2043 | 2086 | 2071 |
| **Grand Parkway Transportation Corp. Texas Revenue Bonds, Series 2023**<br>5.000% due 10/01/2052 | 500 | 517 |
| **Grayson County Junior College District, Texas General Obligation Bonds, Series 2024**<br>4.000% due 02/15/2049 | 1310 | 1175 |
| **Harris County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2024**<br>5.000% due 07/01/2054 | 500 | 529 |
| **Harris County, Texas Hospital District General Obligation Bonds, Series 2025**<br>5.000% due 02/15/2042 | 1000 | 1069 |
| **Houston, Texas Airport System Revenue Bonds, (AGM Insured), Series 2023**<br>5.000% due 07/01/2038 | 100 | 107 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Houston, Texas Airport System Revenue Bonds, Series 2024**<br>5.500% due 07/15/2035 | 1500 | 1594 |
| **Hurst-Euless-Bedford Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2024**<br>4.000% due 08/15/2050 | 500 | 455 |
| **Hutto Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023**<br>5.000% due 08/01/2048 | 500 | 517 |
| **Jarrell Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2023**<br>5.000% due 02/15/2053 | 1000 | 1018 |
| **Liberty Hill Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025**<br>5.000% due 02/01/2055 | 5000 | 5115 |
| **Lower Colorado River Authority, Texas Revenue Bonds, Series 2021**<br>5.000% due 05/15/2051 | 500 | 505 |
| **Lower Colorado River Authority, Texas Revenue Bonds, Series 2025**<br>5.000% due 05/15/2045 | 645 | 703 |
| **Manor Housing Public Facility Corp. Texas Revenue Bonds, Series 2024**<br>3.400% due 11/01/2042 | 2000 | 2011 |
| **Matagorda County, Texas Navigation District No 1, Revenue Bonds, Series 2001**<br>2.600% due 11/01/2029 | 250 | 243 |
| **Midland County, Texas Hospital District Revenue Bonds, (BAM Insured), Series 2024**<br>5.250% due 05/15/2054 | 1000 | 1033 |
| **Midland Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2024**<br>5.000% due 02/15/2050 | 500 | 513 |
| **Mission Economic Development Corp. Texas Revenue Bonds, Series 2024**<br>4.000% due 06/01/2054 | 1000 | 999 |
| **Mission Economic Development Corp., Texas Revenue Bonds, Series 2020** |  |  |
| 2.875% due 05/01/2046 | 400 | 400 |
| 3.000% due 05/01/2050 | 1500 | 1500 |
| **New Hope Cultural Education Facilities Finance Corp. Texas Revenue Bonds, Series 2019**<br>4.000% due 12/01/2054 | 250 | 183 |
| **Newark Higher Education Finance Corp. Texas Revenue Bonds, (PSF Insured), Series 2025**<br>5.125% due 08/15/2045 | 700 | 733 |
| **North Texas Tollway Authority Revenue Bonds, Series 2018**<br>5.000% due 01/01/2048 | 1000 | 1008 |
| **North Texas Tollway Authority Revenue Bonds, Series 2025**<br>5.000% due 01/01/2039 | 1000 | 1109 |
| **Northside Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025**<br>5.000% due 08/15/2050 | 3000 | 3101 |
| **Permanent University Fund - University of Texas System Revenue Bonds, Series 2024**<br>5.000% due 07/01/2038 | 1030 | 1137 |
| **San Antonio Housing Trust Public Facility Corp. Texas Revenue Bonds,Series 2024**<br>4.550% due 03/01/2043 | 650 | 647 |
| **Tarrant County Housing Finance Corp. Texas Revenue Bonds,Series 2024**<br>4.600% due 03/01/2043 | 1000 | 1000 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2024**<br>2.550% due 08/01/2050 | 3000 | 3000 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2025**<br>5.000% due 11/15/2049 | 500 | 513 |
| **Texas Department of Housing & Community Affairs Revenue Bonds, (GNMA Insured), Series 2025**<br>6.000% due 01/01/2056 | 995 | 1107 |
| **Texas Private Activity Bond Surface Transportation Corp. Revenue Bonds, Series 2020**<br>4.000% due 12/31/2037 | 250 | 242 |
| **Texas State General Obligation Bonds, Series 2024**<br>5.000% due 10/01/2043 | 1700 | 1836 |
| **Texas Transportation Finance Corp. Revenue Bonds, Series 2025**<br>5.000% due 10/01/2050 | 2000 | 2065 |
| **Texas Water Development Board Revenue Bonds, Series 2022** |  |  |
| 4.800% due 10/15/2052 | 600 | 603 |
| 5.000% due 10/15/2057 | 250 | 255 |
| **Texas Water Development Board Revenue Bonds, Series 2023**<br>4.875% due 10/15/2048 | 500 | 510 |
| **Waxahachie Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2024**<br>4.000% due 02/15/2049 | 1500 | 1380 |
|  |  | 64597 |
| **UTAH 0.4%** |  |  |
| **Downtown Revitalization Public Infrastructure District, Utah Revenue Bonds, (AGC Insured), Series 2025**<br>5.000% due 06/01/2040 | 1200 | 1307 |
| **Salt Lake City, Utah Airport Revenue Bonds, Series 2023**<br>5.250% due 07/01/2037 | 300 | 329 |
| **Utah Housing Corp. Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.500% due 07/01/2055 | 595 | 675 |
|  |  | 2311 |
| **VIRGINIA 0.4%** |  |  |
| **Farms New Kent Community Development Authority, Virginia Special Assessment Bonds, Series 2021**<br>3.750% due 03/01/2036 | 255 | 246 |
| **Virginia Commonwealth Transportation Board Revenue Notes, Series 2026**<br>5.000% due 05/15/2034 | 1500 | 1712 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Virginia Small Business Financing Authority Revenue Bonds, Series 2025**<br>5.000% due 06/15/2041 | 500 | 534 |
|  |  | 2492 |
| **WASHINGTON 1.1%** |  |  |
| **King County, Washington Sewer Revenue Bonds, Series 2025**<br>2.600% due 01/01/2065 | 2000 | 2000 |
| **Washington Health Care Facilities Authority Revenue Notes, Series 2025**<br>5.000% due 10/01/2035 | 560 | 619 |
| **Washington State Housing Finance Commission Revenue Bonds, (BAM Insured), Series 2025**<br>5.000% due 07/01/2040 | 1000 | 1047 |
| **Washington State Housing Finance Commission Revenue Bonds, Series 2024**<br>3.812% due 03/01/2050 | 593 | 572 |
| **Washington State Housing Finance Commission Revenue Bonds, Series 2025**<br>4.079% due 11/20/2041 | 1591 | 1508 |
| **Washington State Housing Finance Commission Revenue Bonds,Series 2024**<br>4.400% due 03/01/2043 | 500 | 489 |
|  |  | 6235 |
| **WEST VIRGINIA 0.3%** |  |  |
| **West Virginia Economic Development Authority Revenue Bonds, Series 2025**<br>5.450% due 01/01/2055 | 1250 | 1359 |
| **West Virginia Hospital Finance Authority Revenue Bonds, Series 2023**<br>6.000% due 09/01/2053 | 300 | 317 |
| **West Virginia Housing Development Fund Revenue Notes, (HUD Insured), Series 2024**<br>5.000% due 08/01/2027 | 175 | 179 |
|  |  | 1855 |
| **WISCONSIN 1.4%** |  |  |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2021** |  |  |
| 4.000% due 10/01/2041 | 250 | 258 |
| 4.000% due 03/31/2056 | 250 | 200 |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2022**<br>4.000% due 10/01/2052 | 400 | 350 |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2024**<br>5.750% due 07/01/2054 | 400 | 409 |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2025** |  |  |
| 5.000% due 11/15/2039 | 300 | 317 |
| 5.250% due 06/15/2050 | 250 | 249 |
| 5.750% due 12/31/2065 | 1850 | 1890 |
| **Public Finance Authority, Wisconsin Revenue Bonds,(BAM Insured), Series 2025**<br>5.250% due 07/01/2055 | 2500 | 2528 |
| **University of Wisconsin Hospitals & Clinics Revenue Bonds, Series 2021**<br>4.000% due 04/01/2046 | 750 | 697 |
| **Wisconsin Health & Educational Facilities Authority Revenue Bonds, Series 2025**<br>6.250% due 11/15/2055 | 900 | 885 |
|  |  | 7783 |
| Total Municipal Bonds & Notes (Cost $457,225) |  | 459567 |
| **U.S. GOVERNMENT AGENCIES 0.0%** |  |  |
| **Federal Home Loan Mortgage Corp. Multifamily ML Certificates**<br>2.802% due 04/25/2043 ~ | 195 | 168 |
| Total U.S. Government Agencies (Cost $158) |  | 168 |
| **U.S. TREASURY OBLIGATIONS 6.7%** |  |  |
| **U.S. Treasury Notes** |  |  |
| 3.375% due 02/29/2028 | 13500 | 13395 |
| 3.500% due 02/28/2031 | 11300 | 11081 |
| 4.125% due 03/31/2031 | 900 | 907 |
| 4.250% due 02/28/2031 | 5300 | 5369 |
| 4.625% due 04/30/2031 | 6900 | 7106 |
| Total U.S. Treasury Obligations (Cost $37,873) |  | 37858 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 0.4%** |  |  |
| **City of Dallas Housing Finance Corp.**<br>4.625% due 10/01/2043 | 400 | 402 |
| **Indiana Housing & Community Development Authority**<br>4.600% due 01/01/2042 | 300 | 300 |
| **Multifamily Tax-Exempt Mortgage-Backed Bonds**<br>4.500% due 08/01/2041 | 989 | 1001 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **San Antonio Housing Trust Public Facility Corp.**<br>4.450% due 04/01/2043 | 500 | 493 |
| Total Non-Agency Mortgage-Backed Securities (Cost $2,189) |  | 2196 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 11.1%** |  |  |
| **MUTUAL FUNDS 0.1%** |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720%(d) | 240119 | 240 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **REPURCHASE AGREEMENTS (f) 10.9%** |  | 61800 |
| **MUNICIPAL BONDS & NOTES 0.1%** |  |  |
| **Albany City School District, New York General Obligation Notes, Series 2025**<br>4.000% due 06/25/2026 | $800 | 802 |
| Total Municipal Bonds & Notes (Cost $801) |  | 802 |
| Total Short-Term Instruments (Cost $62,841) |  | 62842 |
| Total Investments in Securities (Cost $560,286) |  | 562631 |
| Total Investments 99.1% (Cost $560,286) |  | $562631 |
| Other Assets and Liabilities, net 0.9% |  | 5184 |
| Net Assets 100.0% |  | $567815 |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (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.** |
| **^** | **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).** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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.** |
| **(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.** |
| **(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)** | **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.** |
| **(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.** |
| **(e)** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** |
| Issuer Description | Coupon | Maturity<br>Date | Maturity<br>Date | Acquisition<br>Date | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets | Market Value<br>as Percentage<br>of Net Assets |
| Lehigh County, Pennsylvania Revenue Bonds, Series 2019 | % | 08/15/2038 | 08/15/2038 | 09/14/2021 | 950 | 928 | 0.16 | 0.16% |
| **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** |
| **(f)** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** | **REPURCHASE AGREEMENTS:** |
| Counterparty | Principal<br>Amount | 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> |
| BPS | 61800 | 61800 | &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 | $(63335) | $61800 | $ | $61806 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  | $**(63335)** | $**61800** | **$** | $**61806** |
| <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. |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 | Fair Value<br>at 03/31/2026 |  |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **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 |  |
| Alabama | Alabama | $ | $0 | $12104 | 0 | $12104 | 12104 |  |
| Alaska | Alaska |  | 0 | 253 | 0 | 253 | 253 |  |
| Arizona | Arizona |  | 0 | 6048 | 0 | 6048 | 6048 |  |
| Arkansas | Arkansas |  | 0 | 10958 | 0 | 10958 | 10958 |  |
| California | California |  | 0 | 24302 | 0 | 24302 | 24302 |  |
| Colorado | Colorado |  | 0 | 16688 | 0 | 16688 | 16688 |  |
| Connecticut | Connecticut |  | 0 | 10110 | 0 | 10110 | 10110 |  |
| District of Columbia | District of Columbia |  | 0 | 8470 | 0 | 8470 | 8470 |  |
| Florida | Florida |  | 0 | 25961 | 0 | 25961 | 25961 |  |
| Georgia | Georgia |  | 0 | 15190 | 0 | 15190 | 15190 |  |
| Idaho | Idaho |  | 0 | 2347 | 0 | 2347 | 2347 |  |
| Illinois | Illinois |  | 0 | 22353 | 0 | 22353 | 22353 |  |
| Indiana | Indiana |  | 0 | 5210 | 0 | 5210 | 5210 |  |
| Iowa | Iowa |  | 0 | 533 | 0 | 533 | 533 |  |
| Kentucky | Kentucky |  | 0 | 9616 | 0 | 9616 | 9616 |  |
| Louisiana | Louisiana |  | 0 | 6228 | 0 | 6228 | 6228 |  |
| Maryland | Maryland |  | 0 | 3821 | 0 | 3821 | 3821 |  |
| Massachusetts | Massachusetts |  | 0 | 9100 | 0 | 9100 | 9100 |  |
| Michigan | Michigan |  | 0 | 12035 | 0 | 12035 | 12035 |  |
| Minnesota | Minnesota |  | 0 | 10337 | 0 | 10337 | 10337 |  |
| Mississippi | Mississippi |  | 0 | 324 | 0 | 324 | 324 |  |
| Missouri | Missouri |  | 0 | 3198 | 0 | 3198 | 3198 |  |
| Multi-State | Multi-State |  | 0 | 14456 | 0 | 14456 | 14456 |  |
| Nebraska | Nebraska |  | 0 | 254 | 0 | 254 | 254 |  |
| Nevada | Nevada |  | 0 | 3677 | 0 | 3677 | 3677 |  |
| New Hampshire | New Hampshire |  | 0 | 6925 | 0 | 6925 | 6925 |  |
| New Jersey | New Jersey |  | 0 | 4337 | 0 | 4337 | 4337 |  |
| New Mexico | New Mexico |  | 0 | 839 | 0 | 839 | 839 |  |

---

------

<br> Schedule of Investments PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| New York | 0 | 66118 | 0 | 66118 |
| North Carolina | 0 | 1977 | 0 | 1977 |
| North Dakota | 0 | 553 | 0 | 553 |
| Ohio | 0 | 18106 | 0 | 18106 |
| Oklahoma | 0 | 631 | 0 | 631 |
| Oregon | 0 | 2143 | 0 | 2143 |
| Pennsylvania | 0 | 16317 | 0 | 16317 |
| Puerto Rico | 0 | 12869 | 0 | 12869 |
| Rhode Island | 0 | 946 | 0 | 946 |
| South Carolina | 0 | 5393 | 0 | 5393 |
| South Dakota | 0 | 495 | 0 | 495 |
| Tennessee | 0 | 3072 | 0 | 3072 |
| Texas | 0 | 62653 | 1944 | 64597 |
| Utah | 0 | 2311 | 0 | 2311 |
| Virginia | 0 | 2492 | 0 | 2492 |
| Washington | 0 | 6235 | 0 | 6235 |
| West Virginia | 0 | 1855 | 0 | 1855 |
| Wisconsin | 0 | 7783 | 0 | 7783 |
| U.S. Government Agencies | 0 | 168 | 0 | 168 |
| U.S. Treasury Obligations | 0 | 37858 | 0 | 37858 |
| Non-Agency Mortgage-Backed Securities | 0 | 2196 | 0 | 2196 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | 0 | 240 | 0 | 240 |
| Repurchase Agreements | 0 | 61800 | 0 | 61800 |
| Municipal Bonds & Notes | 0 | 802 | 0 | 802 |
| Total Investments | $0 | $560687 | $1944 | $562631 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Preferred and Capital Securities Active Exchange-Traded Fund March 31, 2026 (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 98.1% ¤** |  |  |
| **CORPORATE BONDS & NOTES 63.5%** |  |  |
| **BANKING & FINANCE 40.8%** |  |  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust**<br>6.950% due 03/10/2055 •  | $600 | $614 |
| **African Development Bank**<br>5.875% due 05/07/2035 •(c)(d) | 500 | 486 |
| **Allstate Corp.** |  |  |
| 6.500% due 05/15/2067 •  | 400 | 409 |
| 6.852% (TSFR3M + 3.200%) due 08/15/2053 ~ | 1146 | 1146 |
| **American National Group, Inc.**<br>7.000% due 12/01/2055 •  | 1000 | 949 |
| **Banco Bilbao Vizcaya Argentaria SA** |  |  |
| 7.750% due 01/14/2032 •(c)(d) | 1000 | 1027 |
| 9.375% due 03/19/2029 •(c)(d) | 361 | 390 |
| **Banco Mercantil del Norte SA**<br>7.625% due 01/10/2028 •(c)(d) | 1500 | 1504 |
| **Banco Santander SA** |  |  |
| 9.625% due 11/21/2028 •(c)(d) | 800 | 862 |
| 9.625% due 05/21/2033 •(c)(d) | 1800 | 2079 |
| **Bank of Montreal** |  |  |
| 6.875% due 11/26/2085 •(d) | 500 | 505 |
| 7.700% due 05/26/2084 •(d) | 1400 | 1439 |
| **Bank of Nova Scotia** |  |  |
| 6.875% due 10/27/2085 •(d) | 500 | 491 |
| 7.350% due 04/27/2085 •(d) | 1500 | 1516 |
| 8.000% due 01/27/2084 •(d) | 1100 | 1153 |
| 8.625% due 10/27/2082 •(d) | 500 | 520 |
| **Barclays PLC** |  |  |
| 8.000% due 03/15/2029 •(c)(d) | 2400 | 2485 |
| 9.625% due 12/15/2029 •(c)(d) | 1000 | 1091 |
| **BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico** |  |  |
| 7.625% due 02/11/2035 •(d) | 500 | 518 |
| 8.125% due 01/08/2039 •(d) | 1800 | 1897 |
| **BNP Paribas SA** |  |  |
| 7.000% due 08/16/2028 •(c)(d) | 500 | 507 |
| 7.375% due 09/10/2034 •(c)(d) | 400 | 401 |
| 8.000% due 08/22/2031 •(c)(d) | 1000 | 1042 |
| 9.250% due 11/17/2027 •(c)(d) | 1869 | 1956 |
| **BPCE SA**<br>6.347% due 01/13/2047 •  | 500 | 479 |
| **Burford Capital Global Finance LLC**<br>9.250% due 07/01/2031 | 695 | 628 |
| **Canadian Imperial Bank of Commerce** |  |  |
| 6.950% due 01/28/2085 •(d) | 2300 | 2296 |
| 7.000% due 10/28/2085 •(d) | 900 | 910 |
| **Commerzbank AG**<br>7.500% due 10/09/2030 •(c)(d) | 1800 | 1828 |
| **Cooperatieve Rabobank UA**<br>4.875% due 06/29/2029 •(c)(d) | 800 | 915 |
| **Corebridge Financial, Inc.**<br>6.375% due 09/15/2054 •  | $1200 | 1180 |
| **Credit Agricole SA** |  |  |
| 6.700% due 09/23/2034 •(c)(d) | 200 | 197 |
| 7.125% due 09/23/2035 •(c)(d) | 1500 | 1515 |
| **Credit Suisse AG AT1 Claim** | 800 | 280 |
| **Dai-ichi Life Insurance Co. Ltd.**<br>6.200% due 01/16/2035 •(c) | 800 | 805 |
| **Deutsche Bank AG** |  |  |
| 6.750% due 10/30/2028 •(c)(d) | 400 | 469 |
| 6.750% due 10/30/2034 •(c)(d) | 800 | 913 |
| **DNB Bank ASA**<br>7.375% due 05/30/2029 •(c)(d) | $1600 | 1637 |
| **Equitable Holdings, Inc.**<br>6.700% due 03/28/2055 •  | 1000 | 1012 |
| **Global Atlantic Fin Co.** |  |  |
| 7.250% due 03/01/2056 •  | 500 | 472 |
| 7.950% due 10/15/2054 •  | 550 | 530 |
| **HSBC Holdings PLC** |  |  |
| 6.000% due 05/22/2027 •(c)(d) | 500 | 498 |
| 6.500% due 03/23/2028 •(c)(d) | 1200 | 1200 |
| 6.750% due 03/24/2031 •(c)(d) | 500 | 495 |

---

------

<br> Schedule of Investments PIMCO Preferred and Capital Securities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.875% due 09/11/2029 •(c)(d) | 200 | 202 |
| 7.050% due 06/05/2030 •(c)(d) | 1000 | 1008 |
| **ING Groep NV** |  |  |
| 7.000% due 11/16/2032 •(c)(d) | 1500 | 1498 |
| 8.000% due 05/16/2030 •(c)(d) | 1400 | 1476 |
| **Intesa Sanpaolo SpA** |  |  |
| 7.778% due 06/20/2054 •  | 300 | 342 |
| 8.248% due 11/21/2033 •  | 300 | 346 |
| **Liberty Mutual Group, Inc.**<br>4.125% due 12/15/2051 •  | 1700 | 1661 |
| **Lloyds Banking Group PLC** |  |  |
| 6.625% due 09/27/2035 •(c)(d) | 400 | 382 |
| 6.750% due 09/27/2031 •(c)(d) | 900 | 895 |
| 7.875% due 06/27/2029 •(c)(d) | 200 | 271 |
| 8.000% due 09/27/2029 •(c)(d) | $1533 | 1611 |
| **MetLife, Inc.** |  |  |
| 5.850% due 03/15/2056 •  | 300 | 295 |
| 6.350% due 03/15/2055 •  | 500 | 508 |
| **Mitsubishi UFJ Financial Group, Inc.**<br>8.200% due 01/15/2029 •(c)(d) | 400 | 428 |
| **NatWest Group PLC** |  |  |
| 4.500% due 03/31/2028 •(c)(d) | 400 | 505 |
| 7.300% due 11/19/2034 •(c)(d) | $800 | 813 |
| 8.125% due 11/10/2033 •(c)(d) | 2200 | 2383 |
| **Nippon Life Insurance Co.** |  |  |
| 5.950% due 04/16/2054 •  | 200 | 200 |
| 6.250% due 09/13/2053 •  | 1000 | 1022 |
| 6.500% due 04/30/2055 •  | 1900 | 1964 |
| **Nomura Holdings, Inc.**<br>7.000% due 07/15/2030 •(c)(d) | 800 | 806 |
| **Nordea Bank Abp**<br>6.300% due 09/25/2031 •(c)(d) | 200 | 199 |
| **Prudential Financial, Inc.** |  |  |
| 5.125% due 03/01/2052 •  | 1200 | 1149 |
| 6.000% due 09/01/2052 •  | 1518 | 1522 |
| 6.500% due 03/15/2054 •  | 900 | 922 |
| **Reinsurance Group of America, Inc.**<br>6.650% due 09/15/2055 •  | 900 | 899 |
| **Royal Bank of Canada** |  |  |
| 6.750% due 08/24/2085 •(d) | 500 | 502 |
| 7.500% due 05/02/2084 •(d) | 3400 | 3485 |
| **Societe Generale SA** |  |  |
| 5.375% due 11/18/2030 •(c)(d) | 500 | 469 |
| 6.750% due 04/06/2028 •(c)(d) | 500 | 498 |
| 7.125% due 07/15/2035 •(c)(d) | 300 | 289 |
| 9.375% due 11/22/2027 •(c)(d) | 884 | 925 |
| 10.000% due 11/14/2028 •(c)(d) | 600 | 648 |
| **Standard Chartered PLC** |  |  |
| 7.000% due 11/14/2035 •(c)(d) | 500 | 491 |
| 7.875% due 03/08/2030 •(c)(d) | 800 | 832 |
| **Svenska Handelsbanken AB** |  |  |
| 4.375% due 03/01/2027 •(c)(d) | 1000 | 984 |
| 4.750% due 03/01/2031 •(c)(d) | 1000 | 929 |
| **Swiss RE Subordinated Finance PLC**<br>5.698% due 04/05/2035 •  | 500 | 507 |
| **Toronto-Dominion Bank** |  |  |
| 7.250% due 07/31/2084 •(d) | 300 | 306 |
| 8.125% due 10/31/2082 •(d) | 1728 | 1784 |
| **UBS Group AG** |  |  |
| 6.625% due 01/08/2031 •(c)(d) | 300 | 292 |
| 6.850% due 09/10/2029 •(c)(d) | 800 | 793 |
| 7.750% due 04/12/2031 •(c)(d) | 1000 | 1033 |
| 9.250% due 11/13/2028 •(c)(d) | 500 | 533 |
| 9.250% due 11/13/2033 •(c)(d) | 1100 | 1239 |
|  |  | 83092 |
| **INDUSTRIALS 4.2%** |  |  |
| **CVS Health Corp.**<br>7.000% due 03/10/2055 •  | 400 | 413 |
| **Enbridge, Inc.** |  |  |
| 5.750% due 07/15/2080 •  | 2815 | 2811 |
| 6.250% due 03/01/2078 •  | 500 | 501 |
| 7.625% due 01/15/2083 •  | 1100 | 1188 |
| 8.250% due 01/15/2084 •  | 700 | 741 |
| **Energy Transfer LP**<br>6.500% due 02/15/2056 •  | 400 | 395 |
| **Enterprise Products Operating LLC**<br>6.900% (TSFR3M + 3.248%) due 08/16/2077 ~ | 489 | 489 |
| **Plains All American Pipeline LP**<br>8.024% (TSFR3M + 4.372%) due 04/30/2026 ~(c) | 498 | 497 |
| **Southern Co.** |  |  |
| 6.000% due 04/01/2058 •  | 1000 | 1005 |

---

------

<br> Schedule of Investments PIMCO Preferred and Capital Securities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.375% due 03/15/2055 •  | 500 | 515 |
|  |  | 8555 |
| **UTILITIES 18.5%** |  |  |
| **AES Corp.**<br>6.950% due 07/15/2055 •  | 1200 | 1121 |
| **American Electric Power Co., Inc.** |  |  |
| 3.875% due 02/15/2062 •  | 400 | 392 |
| 6.050% due 03/15/2056 •  | 700 | 694 |
| 6.950% due 12/15/2054 •  | 700 | 743 |
| **BP Capital Markets PLC** |  |  |
| 6.125% due 03/18/2035 •(c) | 600 | 605 |
| 6.450% due 12/01/2033 •(c) | 2300 | 2393 |
| **British Telecommunications PLC**<br>4.875% due 11/23/2081 •  | 400 | 383 |
| **CenterPoint Energy, Inc.** |  |  |
| 6.850% due 02/15/2055 •  | 900 | 946 |
| 7.000% due 02/15/2055 •  | 250 | 258 |
| **CMS Energy Corp.** |  |  |
| 3.750% due 12/01/2050 •  | 1300 | 1187 |
| 6.500% due 06/01/2055 •  | 900 | 917 |
| **Dominion Energy, Inc.** |  |  |
| 6.200% due 02/15/2056 •  | 1300 | 1289 |
| 6.625% due 05/15/2055 •  | 1200 | 1219 |
| 7.000% due 06/01/2054 •  | 500 | 529 |
| **Duke Energy Corp.**<br>6.450% due 09/01/2054 •  | 900 | 932 |
| **Edison International**<br>8.125% due 06/15/2053 •(g) | 300 | 306 |
| **Electricite de France SA**<br>9.125% due 03/15/2033 •(c) | 1715 | 1987 |
| **Emera U.S. Finance LLC** |  |  |
| 6.650% due 10/01/2056 •  | 200 | 200 |
| 6.850% due 10/01/2056 •  | 100 | 100 |
| **Entergy Corp.**<br>6.100% due 06/15/2056 •  | 300 | 296 |
| **EUSHI Finance, Inc.**<br>6.250% due 04/01/2056 •  | 1100 | 1080 |
| **Evergy, Inc.**<br>6.650% due 06/01/2055 •  | 810 | 816 |
| **Eversource Energy**<br>6.350% due 08/15/2056 •  | 300 | 296 |
| **Exelon Corp.**<br>6.500% due 03/15/2055 •  | 600 | 612 |
| **NextEra Energy Capital Holdings, Inc.** |  |  |
| 6.375% due 08/15/2055 •  | 200 | 204 |
| 6.700% due 09/01/2054 •  | 1200 | 1226 |
| 6.750% due 06/15/2054 •  | 1800 | 1864 |
| **NiSource, Inc.**<br>6.375% due 03/31/2055 •  | 800 | 821 |
| **PacifiCorp**<br>7.125% due 08/15/2056 •  | 600 | 567 |
| **PG&E Corp.**<br>6.850% due 09/15/2056 •  | 700 | 692 |
| **Puget Energy, Inc.**<br>7.000% due 09/15/2056 •  | 300 | 298 |
| **Sempra** |  |  |
| 6.400% due 10/01/2054 •  | 700 | 698 |
| 6.625% due 04/01/2055 •  | 1250 | 1254 |
| 6.875% due 10/01/2054 •  | 1850 | 1871 |
| **Sierra Pacific Power Co.** |  |  |
| 6.200% due 12/15/2055 •  | 700 | 681 |
| 6.375% due 09/15/2056 •  | 700 | 695 |
| **Transcanada Trust** |  |  |
| 5.500% due 09/15/2079 •  | 1600 | 1587 |
| 5.600% due 03/07/2082 •  | 1736 | 1703 |
| **TXNM Energy, Inc.**<br>7.000% due 07/31/2056 •  | 400 | 399 |
| **Vodafone Group PLC** |  |  |
| 5.125% due 06/04/2081 •  | 1300 | 1011 |
| 7.000% due 04/04/2079 •  | 1600 | 1647 |

---

------

<br> Schedule of Investments PIMCO Preferred and Capital Securities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Xcel Energy, Inc.**<br>5.750% due 12/03/2056 •  | 1100 | 1074 |
|  |  | 37593 |
| Total Corporate Bonds & Notes (Cost $126,985) |  | 129240 |
|  | SHARES |  |
| **PREFERRED SECURITIES 31.8%** |  |  |
| **BANKING & FINANCE 29.5%** |  |  |
| **Ally Financial, Inc.**<br>4.700% due 05/15/2028 •(c) | 716000 | 663 |
| **American Express Co.**<br>3.550% due 09/15/2026 •(c) | 1400000 | 1384 |
| **Banco Santander SA**<br>8.000% due 02/01/2034 •(c)(d) | 600000 | 633 |
| **Bank of America Corp.** |  |  |
| 4.375% due 01/27/2027 •(c) | 833000 | 821 |
| 5.875% due 03/15/2028 •(c) | 3418000 | 3428 |
| 6.125% due 04/27/2027 •(c) | 500000 | 502 |
| 6.250% due 07/26/2030 •(c) | 600000 | 602 |
| 6.625% due 05/01/2030 •(c) | 2300000 | 2358 |
| **Bank of New York Mellon Corp.**<br>5.950% due 12/20/2030 •(c) | 900000 | 904 |
| **Capital One Financial Corp.**<br>3.950% due 09/01/2026 •(c) | 1600000 | 1576 |
| **Charles Schwab Corp.** |  |  |
| 4.000% due 12/01/2030 •(c) | 1636000 | 1515 |
| 5.000% due 12/01/2027 •(c) | 400000 | 394 |
| **Citigroup, Inc.** |  |  |
| 6.625% due 02/15/2031 •(c) | 2200000 | 2201 |
| 6.875% due 12/31/2099 | 500000 | 504 |
| 6.950% due 02/15/2030 •(c) | 3200000 | 3226 |
| 7.000% due 08/15/2034 •(c) | 1700000 | 1750 |
| **Citizens Financial Group, Inc.**<br>6.914% (TSFR3M + 3.265%) due 07/06/2026 ~(c) | 200000 | 198 |
| **CoBank ACB** |  |  |
| 6.450% due 10/01/2027 •(c) | 400000 | 403 |
| 7.125% due 01/01/2030 •(c) | 75000 | 77 |
| **Compeer Financial ACA**<br>7.875% due 02/15/2031 •(c) | 1500000 | 1537 |
| **Corebridge Financial, Inc.**<br>6.875% due 12/01/2030 •(c) | 1200000 | 1221 |
| **Dresdner Funding Trust I**<br>8.151% due 06/30/2031 | 600000 | 643 |
| **Farm Credit Bank of Texas** |  |  |
| 7.000% due 09/15/2030 •(c) | 600000 | 617 |
| 7.750% due 06/15/2029 •(c) | 500000 | 523 |
| **Goldman Sachs Group, Inc.** |  |  |
| 3.650% due 08/10/2026 •(c) | 1000000 | 991 |
| 4.572% due 04/30/2026 •(c) | 23700 | 452 |
| 6.125% due 11/10/2034 •(c)(g) | 1200000 | 1190 |
| 6.850% due 02/10/2030 •(c) | 900000 | 917 |
| 7.500% due 05/10/2029 •(c) | 2000000 | 2084 |
| **Huntington Bancshares, Inc.** |  |  |
| 5.625% due 07/15/2030 •(c) | 500000 | 505 |
| 6.250% due 10/15/2030 •(c) | 1500000 | 1476 |
| **JPMorgan Chase & Co.** |  |  |
| 4.625% due 06/01/2026 (c) | 40500 | 774 |
| 6.500% due 04/01/2030 •(c) | 3600000 | 3696 |
| 6.875% due 06/01/2029 •(c) | 900000 | 937 |
| **MetLife Capital Trust IV**<br>7.875% due 12/15/2067 | 2100000 | 2272 |
| **MetLife, Inc.** |  |  |
| 4.750% due 06/15/2026 (c) | 25100 | 461 |
| 5.875% due 03/15/2028 •(c) | 700000 | 697 |
| **Morgan Stanley** |  |  |
| 4.875% due 07/15/2026 (c) | 24700 | 488 |
| 6.625% due 10/15/2029 (c) | 36000 | 909 |
| 7.096% (TSFR3M + 3.422%) due 06/15/2026 ~(c) | 400000 | 404 |
| **PNC Financial Services Group, Inc.** |  |  |
| 3.400% due 09/15/2026 •(c) | 300000 | 296 |
| 6.000% due 05/15/2027 •(c) | 1200000 | 1197 |
| 6.200% due 09/15/2027 •(c) | 200000 | 201 |
| **State Street Corp.** |  |  |
| 6.700% due 03/15/2029 •(c) | 1900000 | 1936 |
| 6.700% due 09/15/2029 •(c) | 700000 | 721 |
| **Synchrony Financial**<br>8.250% (H15T5Y + 4.044%) due 05/15/2029 ~(c) | 19200 | 484 |
| **Truist Financial Corp.**<br>5.100% due 03/01/2030 •(c) | 648000 | 649 |

---

------

<br> Schedule of Investments PIMCO Preferred and Capital Securities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **U.S. Bancorp**<br>5.300% due 04/15/2027 •(c) | 688000 | 685 |
| **Voya Financial, Inc.** |  |  |
| 5.350% (H15T5Y + 3.210%) due 09/15/2029 ~(c) | 20700 | 475 |
| 7.758% due 09/15/2028 •(c) | 925000 | 962 |
| **Wells Fargo & Co.** |  |  |
| 4.750% due 06/15/2026 (c) | 41300 | 785 |
| 6.125% due 06/15/2031 •(c) | 1100000 | 1104 |
| 6.850% due 09/15/2029 •(c) | 3200000 | 3316 |
| 7.625% due 09/15/2028 •(c) | 1133000 | 1193 |
|  |  | 59937 |
| **INDUSTRIALS 0.4%** |  |  |
| **SVB Financial Trust**<br>0.000% due 11/07/2032 (a) | 48000 | 3 |
| **Venture Global LNG, Inc.**<br>9.000% due 09/30/2029 •(c) | 900000 | 897 |
|  |  | 900 |
| **UTILITIES 1.9%** |  |  |
| **AT&T, Inc.**<br>4.750% due 04/30/2026 (c) | 30700 | 565 |
| **Energy Transfer LP** |  |  |
| 6.625% due 02/15/2028 •(c) | 1146000 | 1143 |
| 7.125% due 05/15/2030 •(c) | 1800000 | 1831 |
| **SCE Trust VII**<br>7.500% due 11/22/2028 (c) | 12000 | 295 |
|  |  | 3834 |
| Total Preferred Securities (Cost $63,755) |  | 64671 |
| **SHORT-TERM INSTRUMENTS 2.8%** |  |  |
| **MUTUAL FUNDS 0.5%** |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720%(e) | 988278 | 988 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **REPURCHASE AGREEMENTS (f) 2.3%** |  | 4700 |
| **U.S. TREASURY BILLS 0.0%** |  |  |
| 3.666% due 05/26/2026 (a)(b) | $31 | 31 |
| Total Short-Term Instruments (Cost $5,719) |  | 5719 |
| Total Investments in Securities (Cost $196,459) |  | 199630 |
| Total Investments 98.1% (Cost $196,459) |  | $199630 |
| **Financial Derivative Instruments** **(h)(i)** **0.1**%(Cost or Premiums, net $1,080) |  | 172 |
| Other Assets and Liabilities, net 1.8% |  | 3723 |
| Net Assets 100.0% |  | $203525 |

---

------

<br> Schedule of Investments PIMCO Preferred and Capital Securities Active Exchange-Traded Fund (Cont.) March 31, 2026 (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.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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.** |
| **(a)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(b)** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** |
| **(c)** | **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.** |
| **(d)** | **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.** |
| **(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** |
| **(f)** | **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 |  | &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 | 04/01/2026 | $ | &nbsp;&nbsp; U.S. Treasury Notes 2.875% due 05/15/2028 | &nbsp;&nbsp; U.S. Treasury Notes 2.875% due 05/15/2028 | &nbsp;&nbsp; U.S. Treasury Notes 2.875% due 05/15/2028 | &nbsp;&nbsp; U.S. Treasury Notes 2.875% due 05/15/2028 | (4795) | (4795) | 4700 | 4700 | 4700 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  |  | **(4795)** | **(4795)** | **4700** | **4700** | **4700** |
| **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> | 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 |
| BOS | BOS | BOS | 3.250% | 03/27/2026 | 06/12/2026 | 06/12/2026 | (1082) | (1082) | (1082) | $(1083) | (1083) |
| MEI | MEI | MEI | 2.000 | 03/25/2026 | 06/12/2026 | 06/12/2026 | (297) | (297) | (297) | (297) | (297) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  | $**(1380)** | **(1380)** |
| **(g)** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $1,496 have been pledged as collateral under the terms of master agreements as of March 31, 2026.** |
| <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. |
| <sup>(2)</sup> | The average amount of borrowings outstanding during the period ended March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. 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 March 31, 2026 was $(446) at a weighted average interest rate of 2.322%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| **(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** | **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><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 | Expiration<br>Month | # 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 June Futures | U.S. Treasury 2-Year Note June Futures | 06/2026 | 1 | $207 | 207 | $0 | 0 | $0 | 0 | $ | 0 |
| U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | 06/2026 | 239 | 26540 | 26540 | (461) | (461) | 37 | 37 |  | (1) |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | 06/2026 | 24 | 2724 | 2724 | (11) | (11) | 5 | 5 |  | 0 |
| U.S. Treasury Long-Term Bond June Futures | U.S. Treasury Long-Term Bond June Futures | 06/2026 | 47 | 5352 | 5352 | (178) | (178) | 3 | 3 |  | 0 |
| U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | 06/2026 | 127 | 14803 | 14803 | (500) | (500) | 0 | 0 |  | (10) |
|  |  |  |  |  |  | (1150) | $ | 45 | 45 | $ | (11) |
| **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 | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset |  | Liability |
| Euro-Bobl June Futures | Euro-Bobl June Futures | 06/2026 | 8 | $(1067) | (1067) | $17 | 17 | $0 | 0 | $ | (4) |
| Euro-Bund June Futures | Euro-Bund June Futures | 06/2026 | 6 | (870) | (870) | 22 | 22 | 0 | 0 |  | (6) |

---

------

<br> Schedule of Investments PIMCO Preferred and Capital Securities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | 06/2026 | 06/2026 | 64 |  |  | (6924) | (6924) |  | 51 | 51 |  | 0 | 0 |  |  | (9) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $90 | 90 | 90 | $0 | 0 | 0 | $ | $(19) | (19) |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | $**(1060)** | **(1060)** | **(1060)** | $**45** | **45** | **45** | **$** | $**(30)** | **(30)** |
| **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 CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <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 | Fixed<br>Receive Rate | 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-44 5-Year Index | CDX.HY-44 5-Year Index | CDX.HY-44 5-Year Index | 5.000% | 5.000% | 5.000% | Quarterly | 06/20/2030 | 06/20/2030 | 06/20/2030 | $ | 99 | $ | $ | 7 | $ | (1) | (1) | 6 | 6 | 6 | 1 | 1 | $ | 0 |
| CDX.HY-45 5-Year Index | CDX.HY-45 5-Year Index | CDX.HY-45 5-Year Index | 5.000 | 5.000 | 5.000 | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 |  | 7227 |  |  | 516 |  | (123) | (123) | 393 | 393 | 393 | 65 | 65 |  | 0 |
| CDX.HY-46 5-Year Index | CDX.HY-46 5-Year Index | CDX.HY-46 5-Year Index | 5.000 | 5.000 | 5.000 | Quarterly | 06/20/2031 | 06/20/2031 | 06/20/2031 |  | 1800 |  |  | 70 |  | 19 | 19 | 89 | 89 | 89 | 16 | 16 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  | $ | $ | 593 | $ | (105) | (105) | 488 | 488 | 488 | 82 | 82 | $ | 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** | **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> |
| 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 | Maturity<br>Date | Maturity<br>Date |  | Notional<br>Amount | Notional<br>Amount |  | 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 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750% | 3.750% | Annual | 12/18/2026 | 12/18/2026 | $ | $1300 | 1300 | $ | (3) | $ | 3 | 3 | $0 | 0 | 0 | $0 | 0 | $ | $0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.000 | 3.000 | Annual | 03/19/2027 | 03/19/2027 |  | 2100 | 2100 |  | (44) |  | 29 | 29 | (15) | (15) | (15) | 1 | 1 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | 3.500 | Annual | 12/17/2027 | 12/17/2027 |  | 3600 | 3600 |  | 17 |  | (28) | (28) | (11) | (11) | (11) | 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 | 06/20/2029 | 06/20/2029 |  | 5600 | 5600 |  | 4 |  | (19) | (19) | (15) | (15) | (15) | 0 | 0 |  | (5) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | 12/18/2029 | 12/18/2029 |  | 800 | 800 |  | 20 |  | (15) | (15) | 5 | 5 | 5 | 1 | 1 |  | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.000 | 3.000 | Annual | 03/19/2030 | 03/19/2030 |  | 300 | 300 |  | 17 |  | (11) | (11) | 6 | 6 | 6 | 0 | 0 |  | 0 |
| 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 | 06/18/2030 | 06/18/2030 |  | 2400 | 2400 |  | 37 |  | 11 | 11 | 48 | 48 | 48 | 0 | 0 |  | (2) |
| 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 | 06/20/2031 | 06/20/2031 |  | 700 | 700 |  | (6) |  | 4 | 4 | (2) | (2) | (2) | 0 | 0 |  | (1) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | 06/20/2034 | 06/20/2034 |  | 100 | 100 |  | 1 |  | (2) | (2) | (1) | (1) | (1) | 0 | 0 |  | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.750 | 3.750 | Annual | 12/18/2034 | 12/18/2034 |  | 400 | 400 |  | (2) |  | 0 | 0 | (2) | (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 | 3.250 | 3.250 | Annual | 03/19/2035 | 03/19/2035 |  | 5700 | 5700 |  | 395 |  | (148) | (148) | 247 | 247 | 247 | 0 | 0 |  | (5) |
| 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 | 09/17/2035 | 09/17/2035 |  | 700 | 700 |  | (3) |  | 9 | 9 | 6 | 6 | 6 | 0 | 0 |  | (1) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | 3.500 | Annual | 06/20/2054 | 06/20/2054 |  | 100 | 100 |  | (1) |  | (10) | (10) | (11) | (11) | (11) | 0 | 0 |  | 0 |
| 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 | 03/19/2055 | 03/19/2055 |  | 400 | 400 |  | 55 |  | 6 | 6 | 61 | 61 | 61 | 2 | 2 |  | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  | $ | $ | 487 | $ | (171) | (171) | 316 | 316 | 316 | 5 | 5 | $ | (14) |
| **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** | **$** | **$** | **1080** | **$** | **(276)** | **(276)** | **804** | **804** | **804** | **87** | **87** | **$** | **(14)** |
| **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $2,641 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| <sup>(1)</sup> | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 for closed futures is outstanding at period end. | Unsettled variation margin asset of $1 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. | 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. | 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. | The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. |
| **(i)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **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:** | **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 | &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 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; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 04/2026 | 04/2026 | 04/2026 | 04/2026 | GBP | 52 | 52 | 52 | 52 | $ | $70 | 70 | 70 | 70 | 1 | 1 | 1 | 1 | $0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 04/2026 | 04/2026 | 04/2026 | 04/2026 | EUR | 56 | 56 | 56 | 56 |  | 66 | 66 | 66 | 66 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 04/2026 | 04/2026 | 04/2026 | 04/2026 | GBP | 783 | 783 | 783 | 783 |  | 1059 | 1059 | 1059 | 1059 | 23 | 23 | 23 | 23 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | 04/2026 | 04/2026 | 04/2026 | 04/2026 | $ | $821 | 821 | 821 | 821 | GBP | 617 | 617 | 617 | 617 | 0 | 0 | 0 | 0 | (5) | (5) | (5) |

---

------

<br> Schedule of Investments PIMCO Preferred and Capital Securities Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | 05/2026 | 617 | 617 | $821 | 821 | 821 |  | 5 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | 04/2026 | $289 | 289 | 218 | 218 | 218 |  | 0 |  | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | 04/2026 | 2101 | 2101 | $2486 | 2486 | 2486 |  | 58 |  | 0 |
|  | 04/2026 | $2489 | 2489 | 2157 | 2157 | 2157 |  | 4 |  | 0 |
|  | 05/2026 | 2156 | 2156 | $2493 | 2493 | 2493 |  | 0 |  | (4) |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | $**92** | **92** | $**(9)** | **(9)** |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 03/31/2026 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | $83092 | 83092 | $0 | 0 | 83092 | 83092 |
| Industrials | Industrials | Industrials | 0 | 0 | 8555 | 8555 | 0 | 0 | 8555 | 8555 |
| Utilities | Utilities | Utilities | 0 | 0 | 37593 | 37593 | 0 | 0 | 37593 | 37593 |
| 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 | 4828 | 4828 | 55109 | 55109 | 0 | 0 | 59937 | 59937 |
| Industrials | Industrials | Industrials | 0 | 0 | 900 | 900 | 0 | 0 | 900 | 900 |
| Utilities | Utilities | Utilities | 860 | 860 | 2974 | 2974 | 0 | 0 | 3834 | 3834 |
| 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 | 988 | 988 | 0 | 0 | 988 | 988 |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 | 4700 | 4700 | 0 | 0 | 4700 | 4700 |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 31 | 31 | 0 | 0 | 31 | 31 |
| Total Investments | Total Investments | Total Investments | $5688 | 5688 | $193942 | 193942 | $0 | 0 | 199630 | 199630 |
| **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 | 132 | 132 | 0 | 0 | 132 | 132 |
| Over the counter | Over the counter | Over the counter | 0 | 0 | 92 | 92 | 0 | 0 | 92 | 92 |
|  |  |  | $0 | 0 | $224 | 224 | $0 | 0 | 224 | 224 |
| **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 | (10) | (10) | (34) | (34) | 0 | 0 | (44) | (44) |
| Over the counter | Over the counter | Over the counter | 0 | 0 | (9) | (9) | 0 | 0 | (9) | (9) |
|  |  |  | $(10) | (10) | $(43) | (43) | $0 | 0 | (53) | (53) |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $(10) | (10) | $181 | 181 | $0 | 0 | 171 | 171 |
| Totals | Totals | Totals | $5678 | 5678 | $194123 | 194123 | $0 | 0 | 199801 | 199801 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund March 31, 2026 (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 105.0% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 84.2%** |  |  |
| **ABG Intermediate Holdings 2 LLC** |  |  |
| 5.918% (TSFR1M + 2.250%) due 12/21/2028 ~ | $601 | $601 |
| 5.918% (TSFR1M + 2.250%) due 02/13/2032 ~ | 2949 | 2939 |
| **Acrisure LLC** |  |  |
| 6.668% (TSFR1M + 3.000%) due 11/06/2030 ~ | 999 | 970 |
| 6.918% (TSFR1M + 3.250%) due 06/21/2032 ~ | 997 | 968 |
| **Action Environmental Group, Inc.**<br>6.685% (TSFR3M + 3.000%) due 10/24/2030 ~ | 2362 | 2358 |
| **Advanced Drainage Systems, Inc.**<br>5.298% (TSFR1M + 1.625%) due 02/28/2033 ~ | 200 | 201 |
| **AGI-CFI Acquisition Corp.**<br>TBD% due 03/25/2033 | 475 | 471 |
| **AI Aqua Merger Sub, Inc.**<br>6.411% - 6.414% (TSFR3M + 2.750%) due 07/31/2028 ~ | 3346 | 3342 |
| **AL GCX Holdings LLC**<br>5.923% (TSFR1M + 2.250%) due 12/17/2032 ~ | 450 | 451 |
| **AL NGPL Holdings LLC**<br>5.646% (TSFR3M + 2.000%) due 12/09/2030 ~ | 835 | 835 |
| **Albion Financing 3 SARL**<br>6.664% (TSFR3M + 3.000%) due 05/21/2031 ~ | 3777 | 3786 |
| **AlixPartners LLP**<br>5.668% (TSFR1M + 2.000%) due 08/12/2032 ~ | 599 | 594 |
| **Alkermes, Inc.**<br>6.418% (TSFR1M + 2.750%) due 08/12/2031 ~ | 825 | 832 |
| **Alliant Holdings Intermediate LLC**<br>6.168% (TSFR1M + 2.500%) due 09/19/2031 ~ | 920 | 914 |
| **Allied Universal Holdco LLC**<br>6.918% (TSFR1M + 3.250%) due 08/20/2032 ~ | 846 | 847 |
| **AllSpring Buyer LLC**<br>6.750% (TSFR3M + 3.000%) due 11/01/2030 ~ | 887 | 889 |
| **Altar Bidco, Inc.**<br>6.608% due 02/01/2029 ~ | 702 | 699 |
| **Altice France SA** |  |  |
| 9.047% (TSFR3M + 5.375%) due 05/14/2029 ~ | 986 | 982 |
| 10.547% (TSFR3M + 6.875%) due 05/31/2031 ~ | 2108 | 2116 |
| **Amentum Government Services Holdings LLC**<br>5.668% (TSFR1M + 2.000%) due 09/29/2031 ~ | 1789 | 1791 |
| **American Axle & Manufacturing, Inc.**<br>6.912% (TSFR3M + 3.250%) due 02/03/2033 ~ | 817 | 815 |
| **Amspec Parent LLC**<br>7.200% (TSFR3M + 3.500%) due 12/22/2031 ~ | 1736 | 1736 |
| **AmWINS Group, Inc.**<br>5.668% (TSFR1M + 2.000%) due 01/30/2032 ~ | 653 | 649 |
| **Amynta Agency Borrower, Inc.**<br>6.168% (TSFR1M + 2.500%) due 12/29/2031 ~ | 770 | 760 |
| **Anticimex International AB**<br>6.560% due 11/17/2031 ~ | 1025 | 1028 |
| **Applied Systems, Inc.**<br>5.950% (TSFR1M + 2.250%) due 02/24/2031 ~ | 959 | 942 |
| **Arches Buyer, Inc.**<br>7.018% (TSFR1M + 3.250%) due 12/06/2027 ~ | 1 | 1 |
| **Aspire Bakeries Holdings LLC**<br>6.668% (TSFR1M + 3.000%) due 12/23/2030 «~ | 2772 | 2779 |
| **Asurion LLC** |  |  |
| 7.918% (TSFR1M + 4.250%) due 09/19/2030 ~ | 744 | 736 |
| 8.018% (TSFR1M + 4.250%) due 08/19/2028 ~ | 155 | 155 |
| **Athenahealth Group, Inc.**<br>6.418% (TSFR1M + 2.750%) due 02/15/2029 ~ | 5291 | 5202 |
| **Auris Luxembourg III SARL**<br>6.948% - 6.951% (TSFR1M + 3.250%) due 02/28/2029 «~ | 560 | 561 |
| **Avalara, Inc.**<br>6.450% (TSFR3M + 2.750%) due 03/26/2032 ~ | 745 | 729 |
| **Azuria Water Solutions, Inc.** |  |  |
| TBD% due 01/27/2033 | 816 | 810 |
| TBD% due 01/27/2033 µ | 109 | 108 |
| **B&G Foods, Inc.**<br>7.168% (TSFR1M + 3.500%) due 10/10/2029 ~ | 2735 | 2569 |
| **Barnes Group, Inc.**<br>6.168% (TSFR1M + 2.500%) due 01/27/2032 ~ | 515 | 515 |
| **Bausch & Lomb Corp.**<br>7.418% (TSFR1M + 3.750%) due 01/15/2031 ~ | 5704 | 5724 |
| **Bayonne Energy Center LLC**<br>6.700% (TSFR3M + 3.000%) due 10/01/2032 ~ | 2749 | 2761 |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **BCP Renaissance Parent LLC**<br>5.950% (TSFR3M + 2.250%) due 10/31/2031 ~ | 836 | 834 |
| **BCPE Empire Holdings, Inc.**<br>6.918% (TSFR1M + 3.250%) due 12/11/2030 ~ | 2050 | 2023 |
| **Beach Acquisition Bidco LLC**<br>6.950% (TSFR3M + 3.250%) due 09/12/2032 ~ | 723 | 726 |
| **Belron Finance LLC**<br>5.660% (TSFR3M + 2.000%) due 10/16/2031 ~ | 2034 | 2036 |
| **BioMarin Pharmaceutical, Inc.**<br>TBD% due 01/28/2033 | 975 | 974 |
| **Blackfin Pipeline LLC**<br>6.668% (TSFR1M + 3.000%) due 09/29/2032 ~ | 998 | 1004 |
| **Blackhawk Network Holdings, Inc.**<br>7.168% (TSFR1M + 3.500%) due 03/12/2029 ~ | 426 | 421 |
| **Boxer Parent Co., Inc.**<br>6.673% (TSFR3M + 3.000%) due 07/30/2031 ~ | 1300 | 1209 |
| **Brazos Delaware II LLC**<br>6.176% (TSFR1M + 2.500%) due 02/11/2030 ~ | 976 | 980 |
| **Broadstreet Partners, Inc.**<br>6.162% - 6.168% (TSFR1M + 2.500%) due 06/13/2031 ~ | 1996 | 1950 |
| **Brown Group Holding LLC**<br>TBD% due 07/01/2031 | 1247 | 1250 |
| **Cengage Learning, Inc.**<br>6.671% - 6.676% (TSFR3M + 3.000%) due 03/24/2031 ~ | 644 | 633 |
| **Century De Buyer LLC**<br>6.667% (TSFR3M + 3.000%) due 10/30/2030 ~ | 1185 | 1155 |
| **Chamberlain Group, Inc.**<br>6.418% (TSFR1M + 2.750%) due 09/08/2032 ~ | 740 | 734 |
| **Charlotte Buyer, Inc.**<br>7.920% (TSFR1M + 4.250%) due 02/11/2028 ~ | 673 | 668 |
| **Charter Communications Operating LLC**<br>5.911% (TSFR3M + 2.250%) due 12/15/2031 ~ | 512 | 513 |
| **Charter NEX U.S., Inc.**<br>6.171% (TSFR1M + 2.500%) due 11/29/2030 ~ | 688 | 685 |
| **Chobani LLC**<br>5.918% (TSFR1M + 2.250%) due 10/28/2032 ~ | 848 | 849 |
| **Chromalloy Corp.**<br>6.911% - 6.951% (TSFR3M + 3.250%) due 03/27/2031 ~ | 529 | 530 |
| **Citco Funding LLC**<br>5.667% (TSFR3M + 2.000%) due 01/30/2033 ~ | 549 | 547 |
| **Cloud Software Group, Inc.** |  |  |
| 6.950% (TSFR3M + 3.250%) due 03/21/2031 ~ | 816 | 750 |
| 6.950% (TSFR3M + 3.250%) due 08/13/2032 ~ | 1848 | 1696 |
| **Clover Holdings 2 LLC** |  |  |
| TBD% - 3.500% due 12/10/2029 ~µ | 74 | 68 |
| 7.676% (TSFR1M + 4.000%) due 12/09/2031 ~ | 2531 | 2430 |
| **Clydesdale Acquisition Holdings, Inc.** |  |  |
| 6.843% (TSFR1M + 3.175%) due 04/13/2029 ~ | 2525 | 2415 |
| 6.918% (TSFR1M + 3.250%) due 04/01/2032 ~ | 379 | 355 |
| **CNT Holdings I Corp.**<br>6.167% (TSFR3M + 2.500%) due 11/08/2032 ~ | 620 | 621 |
| **Columbus McKinnon Corp.**<br>7.200% (TSFR3M + 3.500%) due 02/03/2033 ~ | 1105 | 1102 |
| **CompoSecure Holdings LLC**<br>5.928% (TSFR1M + 2.250%) due 01/14/2033 ~ | 725 | 725 |
| **Cotiviti Corp.**<br>6.418% (TSFR1M + 2.750%) due 05/01/2031 ~ | 2014 | 1860 |
| **Covia Holdings Corp.**<br>6.402% (TSFR3M + 2.750%) due 02/26/2032 ~ | 2432 | 2432 |
| **CP Atlas Buyer, Inc.**<br>8.918% (TSFR1M + 5.250%) due 07/08/2030 ~ | 1318 | 1220 |
| **CPI Holdco B LLC**<br>5.668% (TSFR1M + 2.000%) due 05/19/2031 ~ | 651 | 648 |
| **CPPIB OVM Member U.S. LLC**<br>5.950% (TSFR3M + 2.250%) due 08/20/2031 ~ | 913 | 914 |
| **CQP Holdco LP**<br>5.450% (TSFR3M + 1.750%) due 12/31/2032 ~ | 997 | 993 |
| **Crescent Midstream Operating LLC**<br>7.416% due 02/18/2033 ~ | 350 | 352 |
| **Crown Subsea Communications Holding, Inc.**<br>6.668% (TSFR1M + 3.000%) due 01/30/2031 ~ | 569 | 572 |
| **Cube Industrials Buyer, Inc.**<br>6.667% (TSFR3M + 3.000%) due 10/17/2031 ~ | 687 | 688 |
| **CWGS Group LLC**<br>6.282% (TSFR1M + 2.500%) due 06/03/2028 ~ | 1924 | 1843 |
| **Cyberswift U.S. Finco LLC**<br>7.646% (TSFR3M + 4.000%) due 10/08/2032 ~ | 650 | 642 |
| **Dayforce, Inc.**<br>6.661% - 6.663% (TSFR3M + 3.000%) due 02/04/2033 ~ | 1200 | 1138 |
| **Deep Blue Operating I LLC**<br>6.421% (TSFR1M + 2.750%) due 10/01/2032 «~ | 1975 | 1985 |
| **DexKo Global, Inc.**<br>7.678% (TSFR3M + 3.750%) due 10/04/2028 ~ | 719 | 706 |
| **DG Investment Intermediate Holdings 2, Inc.**<br>6.918% (TSFR1M + 3.250%) due 07/09/2032 ~ | 499 | 499 |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Edelman Financial Center LLC**<br>6.668% (TSFR1M + 3.000%) due 04/07/2028 ~ | 552 | 552 |
| **Electronic Arts, Inc.**<br>TBD% due 03/24/2033 | 1100 | 1095 |
| **Ellucian Holdings, Inc.**<br>6.168% (TSFR1M + 2.500%) due 10/08/2029 ~ | 2077 | 2023 |
| **EMRLD Borrower LP**<br>5.950% (TSFR3M + 2.250%) due 08/04/2031 ~ | 898 | 897 |
| **EOC Borrower LLC**<br>6.418% (TSFR1M + 2.750%) due 03/24/2032 ~ | 2878 | 2875 |
| **Epicor Software Corp.**<br>6.168% (TSFR1M + 2.500%) due 05/30/2031 ~ | 2098 | 2061 |
| **Fertitta Entertainment LLC**<br>6.918% (TSFR1M + 3.250%) due 01/27/2029 ~ | 4374 | 4298 |
| **Fiesta Purchaser, Inc.**<br>6.418% (TSFR1M + 2.750%) due 02/12/2031 ~ | 1845 | 1803 |
| **Finastra USA, Inc.**<br>7.671% (TSFR3M + 4.000%) due 09/15/2032 ~ | 750 | 706 |
| **First Advantage Holdings LLC**<br>6.450% (TSFR3M + 2.750%) due 10/31/2031 ~ | 615 | 601 |
| **First Student Bidco, Inc.**<br>5.950% (TSFR3M + 2.250%) due 08/15/2030 ~ | 1086 | 1084 |
| **Focus Financial Partners LLC**<br>6.168% (TSFR1M + 2.500%) due 09/15/2031 ~ | 522 | 506 |
| **Forward Air Corp.**<br>8.167% (TSFR3M + 4.500%) due 12/19/2030 ~ | 581 | 567 |
| **Froneri Lux Finco SARL**<br>5.877% (TSFR6M + 2.250%) due 09/30/2032 ~ | 2550 | 2506 |
| **Gainwell Acquisition Corp.**<br>7.800% (TSFR3M + 4.000%) due 10/01/2027 ~ | 3471 | 3377 |
| **Galaxy U.S. Opco, Inc.**<br>12.667% (TSFR3M + 5.250%) due 07/31/2030 ~ | 303 | 263 |
| **Garda World Security Corp.**<br>6.421% (TSFR3M + 2.750%) due 02/01/2029 ~ | 1235 | 1229 |
| **GBT U.S. III LLC**<br>5.668% (TSFR3M + 2.000%) due 07/25/2031 ~ | 608 | 596 |
| **GC Ferry Acquisition I, Inc.** |  |  |
| 3.500% due 08/16/2032 ~µ | 128 | 126 |
| 7.200% (TSFR3M + 3.500%) due 08/16/2032 ~ | 747 | 738 |
| **GEN II Fund Services LLC**<br>6.450% (TSFR3M + 2.750%) due 11/26/2031 ~ | 1137 | 1127 |
| **Genesee & Wyoming, Inc.**<br>5.450% (TSFR3M + 1.750%) due 04/10/2031 ~ | 2743 | 2733 |
| **Genesys Cloud Services Holdings II LLC**<br>6.168% (TSFR1M + 2.500%) due 01/30/2032 ~ | 573 | 550 |
| **GFL Environmental, Inc.**<br>6.166% (TSFR3M + 2.500%) due 03/03/2032 ~ | 3881 | 3885 |
| **Global Medical Response, Inc.**<br>7.170% (TSFR3M + 3.500%) due 10/01/2032 ~ | 648 | 647 |
| **Golden State Food LLC**<br>7.200% (TSFR3M + 3.500%) due 12/04/2031 ~ | 923 | 925 |
| **Graham Packaging Co., Inc.**<br>5.918% (TSFR1M + 2.250%) due 01/26/2033 ~ | 975 | 967 |
| **Gray Television, Inc.** |  |  |
| 6.782% (TSFR1M + 3.000%) due 12/01/2028 ~ | 27 | 27 |
| 8.918% (TSFR1M + 5.250%) due 06/04/2029 ~ | 7 | 7 |
| **Green Infrastructure Partners, Inc.**<br>6.450% (TSFR3M + 2.750%) due 09/24/2032 «~ | 1475 | 1475 |
| **Grifols Worldwide Operations USA, Inc.**<br>5.768% (TSFR1M + 2.000%) due 11/15/2027 ~ | 725 | 725 |
| **Grinding Media, Inc.**<br>7.173% (TSFR3M + 3.500%) due 10/12/2028 «~ | 1203 | 1205 |
| **Gryphon Acquire Newco LLC**<br>6.675% (TSFR3M + 3.000%) due 09/13/2032 ~ | 675 | 676 |
| **GTCR Everest Borrower LLC**<br>6.200% (TSFR3M + 2.500%) due 09/05/2031 ~ | 607 | 604 |
| **Guggenheim Partners LLC**<br>6.200% (TSFR3M + 2.500%) due 11/26/2031 ~ | 588 | 589 |
| **Hanger, Inc.** |  |  |
| 3.500% - 7.168% (TSFR1M + 3.500%) due 10/23/2031 ~µ | 85 | 85 |
| 3.500% - 7.168% (TSFR1M + 3.500%) due 10/23/2031 ~ | 656 | 659 |
| **Harbor Freight Tools USA, Inc.**<br>5.918% (TSFR1M + 2.250%) due 06/11/2031 ~ | 740 | 733 |
| **Heartland Dental LLC**<br>7.418% (TSFR1M + 3.750%) due 08/25/2032 ~ | 763 | 762 |
| **Hologic, Inc.**<br>TBD% due 01/14/2033 | 781 | 773 |
| **HUB International Ltd.**<br>5.920% (TSFR3M + 2.250%) due 06/20/2030 ~ | 682 | 681 |
| **Hudson River Trading LLC**<br>6.175% (TSFR1M + 2.500%) due 03/18/2030 ~ | 721 | 719 |
| **Hunter Douglas, Inc.**<br>6.700% (TSFR3M + 3.000%) due 01/20/2032 ~ | 995 | 992 |
| **IMC Financing LLC**<br>6.675% (TSFR1M + 3.000%) due 06/18/2032 ~ | 1464 | 1471 |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Instructure Holdings, Inc.**<br>6.437% (TSFR3M + 2.750%) due 11/13/2031 ~ | 542 | 521 |
| **IRB Holding Corp.**<br>6.176% (TSFR1M + 2.500%) due 12/16/2030 ~ | 2108 | 2105 |
| **Iridium Satellite LLC**<br>5.918% (TSFR1M + 2.250%) due 09/20/2030 ~ | 717 | 703 |
| **Jane Street Group LLC**<br>5.673% (TSFR3M + 2.000%) due 12/15/2031 ~ | 7213 | 7090 |
| **Jazz Financing Lux SARL**<br>5.918% (TSFR1M + 2.250%) due 05/05/2028 ~ | 729 | 732 |
| **JetBlue Airways Corp.**<br>8.435% (TSFR3M + 4.750%) due 08/27/2029 ~ | 613 | 564 |
| **Johnstone Supply LLC**<br>5.918% (TSFR1M + 2.250%) due 06/09/2031 ~ | 668 | 665 |
| **Jump Financial LLC**<br>7.200% (TSFR3M + 3.500%) due 02/26/2032 «~ | 2300 | 2303 |
| **June Purchaser LLC** |  |  |
| 2.750% due 11/28/2031 ~µ | 250 | 250 |
| 6.450% (TSFR3M + 2.750%) due 11/28/2031 ~ | 738 | 738 |
| **Jupiter Borrower, Inc.**<br>TBD% due 03/25/2033 « | 1127 | 1127 |
| **Kaman Corp.** |  |  |
| 1.000% - 6.200% (TSFR3M + 2.500%) due 02/26/2032 ~µ | 73 | 73 |
| 1.000% - 6.200% (TSFR1M + 2.500%) due 02/26/2032 ~ | 771 | 772 |
| **Kaseya, Inc.**<br>6.918% (TSFR1M + 3.250%) due 03/22/2032 ~ | 566 | 530 |
| **KKR Apple Bidco LLC**<br>6.168% (TSFR1M + 2.500%) due 09/23/2031 ~ | 657 | 658 |
| **Kohler Energy Co. LLC**<br>6.700% (TSFR3M + 3.000%) due 05/01/2031 ~ | 512 | 512 |
| **LBM Acquisition LLC** |  |  |
| 7.525% (TSFR1M + 3.750%) due 06/06/2031 ~ | 5183 | 4183 |
| **LC AHAB U.S. Bidco LLC**<br>6.168% (TSFR1M + 2.500%) due 05/01/2031 ~ | 4847 | 4807 |
| **Level 3 Financing, Inc.**<br>6.918% (TSFR1M + 3.250%) due 03/29/2032 ~ | 200 | 200 |
| **LifePoint Health, Inc.** |  |  |
| 7.152% (TSFR3M + 3.500%) due 05/19/2031 ~ | 656 | 657 |
| 7.422% (TSFR3M + 3.750%) due 05/19/2031 ~ | 941 | 942 |
| **LSF12 Helix Parent LLC**<br>7.168% (TSFR1M + 3.500%) due 02/10/2033 ~ | 1027 | 1014 |
| **M6 ETX Holdings II Midco LLC**<br>6.168% (TSFR1M + 2.500%) due 04/01/2032 ~ | 683 | 687 |
| **Madison IAQ LLC** |  |  |
| 6.128% (TSFR6M + 2.500%) due 06/21/2028 ~ | 584 | 585 |
| 6.378% (TSFR6M + 2.750%) due 11/08/2032 ~ | 2 | 2 |
| **Mauser Packaging Solutions Holding Co.**<br>7.164% (TSFR3M + 3.500%) due 04/15/2030 ~ | 1863 | 1805 |
| **Mavis Tire Express Services Corp.**<br>6.668% (TSFR1M + 3.000%) due 05/04/2028 ~ | 959 | 960 |
| **McGraw-Hill Global Education Holdings LLC**<br>6.418% (TSFR1M + 2.750%) due 08/06/2031 ~ | 707 | 707 |
| **Medline Borrower LP**<br>5.418% (TSFR1M + 1.750%) due 10/23/2030 ~ | 1016 | 1018 |
| **Mermaid Bidco, Inc.**<br>6.913% (TSFR3M + 3.250%) due 07/03/2031 ~ | 1092 | 1071 |
| **Michaels Cos., Inc.**<br>8.669% (TSFR3M + 5.000%) due 03/15/2033 ~ | 650 | 632 |
| **Mitchell International, Inc.**<br>6.668% (TSFR1M + 3.000%) due 06/17/2031 ~ | 507 | 485 |
| **Modena Buyer LLC**<br>7.917% (TSFR3M + 4.250%) due 07/01/2031 ~ | 831 | 748 |
| **Motion Finco SARL**<br>7.200% (TSFR3M + 3.500%) due 11/12/2029 ~ | 812 | 714 |
| **MV Holding GmbH**<br>5.668% (TSFR1M + 2.000%) due 03/17/2032 ~ | 991 | 995 |
| **National Mentor Holdings, Inc.** |  |  |
| 6.000% - 9.672% (TSFR3M + 6.000%) due 12/12/2030 ~ | 593 | 591 |
| 6.000% - 9.672% (TSFR1M + 6.000%) due 12/12/2030 ~ | 884 | 881 |
| **NCR Atleos LLC**<br>6.686% (TSFR3M + 3.000%) due 04/16/2029 ~ | 656 | 657 |
| **Neptune Bidco U.S., Inc.**<br>8.760% (TSFR3M + 5.000%) due 02/03/2033 ~ | 3775 | 3609 |
| **Newfold Digital Holdings Group, Inc.**<br>9.419% - 9.442% (TSFR3M + 5.750%) due 04/30/2029 «~ | 41 | 31 |
| **Nexstar Broadcasting, Inc.** |  |  |
| TBD% due 03/18/2033 | 370 | 366 |
| 6.168% (TSFR1M + 2.500%) due 06/28/2032 ~ | 547 | 542 |
| **NGL Energy Partners LP**<br>7.176% (TSFR1M + 3.500%) due 03/11/2033 ~ | 1150 | 1153 |
| **Nielsen Consumer, Inc.**<br>5.918% (TSFR1M + 2.250%) due 10/31/2030 «~ | 1308 | 1294 |
| **Nuvei Technologies Corp.**<br>6.168% (TSFR1M + 2.500%) due 11/17/2031 ~ | 640 | 628 |
| **Olympus Water U.S. Holding Corp.**<br>6.700% (TSFR3M + 3.000%) due 06/20/2031 ~ | 663 | 639 |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Onex TSG Intermediate Corp.**<br>6.950% (TSFR3M + 3.250%) due 08/06/2032 ~ | 900 | 906 |
| **Oryx Midstream Services Permian Basin LLC**<br>5.926% (TSFR1M + 2.250%) due 10/05/2028 ~ | 764 | 766 |
| **Paradigm Parent LLC**<br>8.200% (TSFR3M + 4.500%) due 04/16/2032 ~ | 1045 | 867 |
| **Pasadena Performance Products LLC**<br>6.950% (TSFR3M + 3.250%) due 02/27/2032 «~ | 892 | 889 |
| **Peer Holding III BV**<br>6.200% (TSFR3M + 2.500%) due 07/01/2031 ~ | 2568 | 2566 |
| **Pegasus BidCo BV**<br>6.403% (TSFR3M + 2.750%) due 07/12/2029 ~ | 942 | 940 |
| **Pelican Pipeline LLC**<br>TBD% due 03/25/2033 « | 700 | 701 |
| **PENN Entertainment, Inc.**<br>6.168% (TSFR1M + 2.500%) due 05/03/2029 ~ | 627 | 629 |
| **Peraton Corp.**<br>7.517% (TSFR3M + 3.750%) due 02/01/2028 ~ | 2513 | 2150 |
| **Petco Health & Wellness Co., Inc.**<br>7.950% (TSFR3M + 4.250%) due 02/03/2031 ~ | 925 | 906 |
| **PetSmart, Inc.**<br>7.675% (TSFR1M + 4.000%) due 08/18/2032 ~ | 2437 | 2425 |
| **Phoenix Aviation Capital LLC**<br>6.917% (TSFR3M + 3.250%) due 10/28/2030 ~ | 2450 | 2416 |
| **Phoenix Guarantor, Inc.**<br>6.168% (TSFR1M + 2.500%) due 02/21/2031 ~ | 742 | 744 |
| **Pinnacle Buyer LLC** |  |  |
| 2.500% due 10/01/2032 ~µ | 262 | 263 |
| 6.161% (TSFR3M + 2.500%) due 10/01/2032 ~ | 861 | 863 |
| **Planet U.S. Buyer LLC**<br>6.673% (TSFR3M + 3.000%) due 02/07/2031 ~ | 597 | 598 |
| **Polaris Newco LLC**<br>7.928% (TSFR3M + 4.000%) due 06/02/2028 ~ | 1596 | 1409 |
| **Primo Brands Corp.**<br>TBD% due 03/31/2031 | 1200 | 1203 |
| **Proampac PG Borrower LLC**<br>7.782% (TSFR1M + 4.000%) due 03/07/2033 ~ | 460 | 445 |
| **Proofpoint, Inc.**<br>6.700% (TSFR3M + 3.000%) due 08/31/2028 ~ | 1647 | 1597 |
| **Pye-Barker Fire & Safety LLC** |  |  |
| 1.250% due 12/16/2032 ~µ | 107 | 108 |
| 6.168% (TSFR1M + 2.500%) due 12/16/2032 ~ | 718 | 720 |
| **Qnity Electronics, Inc.**<br>5.668% (TSFR1M + 2.000%) due 11/01/2032 ~ | 2269 | 2269 |
| **Quartz Acquireco LLC**<br>5.950% (TSFR3M + 2.250%) due 06/28/2030 «~ | 1252 | 1048 |
| **QuidelOrtho Corp.**<br>7.668% (TSFR1M + 4.000%) due 08/20/2032 ~ | 3333 | 3333 |
| **Quikrete Holdings, Inc.** |  |  |
| 5.918% (TSFR1M + 2.250%) due 03/19/2029 ~ | 777 | 777 |
| 5.918% (TSFR1M + 2.250%) due 04/14/2031 ~ | 743 | 743 |
| 5.918% (TSFR1M + 2.250%) due 02/10/2032 ~ | 648 | 648 |
| **Rand Parent LLC**<br>6.700% (TSFR3M + 3.000%) due 03/18/2030 ~ | 677 | 677 |
| **Raven Acquisition Holdings LLC** |  |  |
| 3.000% due 11/19/2031 ~µ | 155 | 152 |
| 6.668% (TSFR1M + 3.000%) due 11/19/2031 ~ | 660 | 648 |
| **RealPage, Inc.** |  |  |
| 6.961% (TSFR3M + 3.000%) due 04/24/2028 ~ | 1396 | 1341 |
| 7.450% (TSFR3M + 3.750%) due 04/24/2028 ~ | 741 | 721 |
| **Recess Holdings, Inc.**<br>7.418% (TSFR3M + 3.750%) due 02/20/2030 ~ | 979 | 982 |
| **RelaDyne, Inc.**<br>7.168% (TSFR1M + 3.500%) due 12/23/2030 ~ | 1491 | 1493 |
| **Restoration Hardware, Inc.**<br>6.282% (TSFR1M + 2.500%) due 10/20/2028 ~ | 541 | 527 |
| **Reworld Holding Corp.** |  |  |
| 5.925% (TSFR1M + 2.250%) due 11/30/2028 ~ | 701 | 702 |
| 5.925% (TSFR1M + 2.250%) due 01/15/2031 ~ | 712 | 712 |
| **Rockpoint Gas Storage Partners LP**<br>6.200% (TSFR3M + 2.500%) due 09/18/2031 ~ | 766 | 769 |
| **Salas O'brien, Inc.** |  |  |
| TBD% due 01/31/2033 «~µ | 149 | 149 |
| TBD% (TSFR1M + 2.750%) due 01/31/2033 «~ | 1151 | 1151 |
| **Savor Acquisition, Inc.** |  |  |
| 3.000% due 02/19/2032 ~µ | 86 | 86 |
| 6.667% (TSFR3M + 3.000%) due 02/19/2032 ~ | 909 | 912 |
| **SCIH Salt Holdings, Inc.**<br>6.350% (TSFR6M + 2.750%) due 01/31/2029 ~ | 720 | 719 |
| **Sedgwick Claims Management Services, Inc.**<br>6.168% (TSFR1M + 2.500%) due 07/31/2031 ~ | 652 | 641 |
| **Select Medical Corp.**<br>TBD% due 12/03/2031 | 350 | 350 |
| **SGH2 LLC**<br>8.200% (TSFR3M + 4.500%) due 08/18/2032 «~ | 597 | 588 |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sharp Services LLC**<br>6.700% (TSFR3M + 3.000%) due 09/29/2032 ~ | 1486 | 1489 |
| **Specialty Building Products Holdings LLC**<br>7.518% (TSFR1M + 3.750%) due 10/16/2028 ~ | 568 | 487 |
| **Speed Midco 3 SARL**<br>6.288% (TSFR6M + 2.500%) due 10/07/2032 «~ | 961 | 947 |
| **SS&C Technologies, Inc.**<br>5.668% (TSFR1M + 2.000%) due 05/09/2031 ~ | 650 | 649 |
| **Star Parent, Inc.**<br>7.700% (TSFR3M + 4.000%) due 09/27/2030 ~ | 746 | 738 |
| **Starwood Property Trust, Inc.**<br>5.668% (TSFR1M + 2.000%) due 01/02/2030 «~ | 4004 | 4009 |
| **Stonepeak Bayou Holdings LP**<br>6.450% (TSFR3M + 2.750%) due 10/01/2032 ~ | 2350 | 2289 |
| **Stonepeak Nile Parent LLC**<br>5.917% (TSFR3M + 2.250%) due 04/09/2032 ~ | 673 | 673 |
| **Student Transportation of America Holdings, Inc.** |  |  |
| TBD% due 06/24/2032 ~µ | 268 | 269 |
| TBD% (TSFR3M + 2.750%) due 06/24/2032 ~ | 926 | 930 |
| **Sunrise Financing Partnership**<br>6.099% (TSFR6M + 2.470%) due 02/15/2032 ~ | 662 | 659 |
| **Syniverse Holdings, Inc.**<br>10.700% (TSFR3M + 7.000%) due 05/13/2027 «~ | 1743 | 1614 |
| **Tacala LLC**<br>6.668% (TSFR1M + 3.000%) due 01/31/2031 ~ | 1196 | 1198 |
| **Third Coast Infrastructure LLC**<br>7.418% (TSFR1M + 3.750%) due 09/25/2030 ~ | 733 | 739 |
| **Tidal Waste & Recycling Holdings LLC**<br>6.450% (TSFR3M + 2.750%) due 10/24/2031 ~ | 912 | 914 |
| **TK Elevator Midco GmbH** |  |  |
| TBD% due 04/30/2030 | 953 | 956 |
| TBD% (TSFR6M + 2.750%) due 04/30/2030 ~ | 598 | 599 |
| **TransDigm, Inc.**<br>6.168% (TSFR1M + 2.500%) due 02/28/2031 ~ | 3409 | 3413 |
| **TreeHouse Foods, Inc.**<br>7.918% (TSFR1M + 4.250%) due 02/11/2033 ~ | 1450 | 1445 |
| **Trident TPI Holdings, Inc.**<br>7.450% (TSFR3M + 3.750%) due 09/15/2028 ~ | 663 | 630 |
| **Truist Insurance Holdings LLC**<br>6.450% (TSFR3M + 2.750%) due 05/06/2031 ~ | 2925 | 2891 |
| **U.S. Fertility Enterprises LLC** |  |  |
| 1.750% due 12/30/2032 ~µ | 132 | 132 |
| 7.167% (TSFR3M + 3.500%) due 12/30/2032 ~ | 868 | 868 |
| **U.S. Renal Care, Inc.**<br>8.782% (TSFR1M + 5.000%) due 06/28/2028 ~ | 2281 | 2154 |
| **UKG, Inc.**<br>6.167% (TSFR3M + 2.500%) due 02/10/2031 ~ | 3578 | 3424 |
| **United Talent Agency LLC**<br>6.678% (TSFR1M + 3.000%) due 06/10/2032 «~ | 2980 | 2987 |
| **USI, Inc.** |  |  |
| 5.950% (TSFR3M + 2.250%) due 11/21/2029 ~ | 980 | 979 |
| 5.950% (TSFR3M + 2.250%) due 09/29/2030 ~ | 947 | 945 |
| **Van Pool Transportation LLC** |  |  |
| TBD% due 08/06/2030 ~µ | 80 | 80 |
| TBD% (TSFR3M + 2.750%) due 08/06/2030 ~ | 1620 | 1624 |
| **Varsity Brands, Inc.**<br>6.450% (TSFR3M + 2.750%) due 08/26/2031 ~ | 746 | 743 |
| **Veritiv Corp.**<br>7.700% (TSFR3M + 4.000%) due 12/02/2030 ~ | 1183 | 1152 |
| **Versant Media Group, Inc.**<br>7.200% (TSFR3M + 3.500%) due 01/30/2031 ~ | 500 | 500 |
| **Viavi Solutions, Inc.**<br>6.171% (TSFR3M + 2.500%) due 10/16/2032 ~ | 750 | 753 |
| **Virgin Media Bristol LLC** |  |  |
| 7.037% (TSFR1M + 3.250%) due 01/31/2029 ~ | 969 | 937 |
| 7.052% (TSFR6M + 3.175%) due 03/31/2031 ~ | 4825 | 4417 |
| **VistaJet Malta Finance PLC**<br>7.406% - 7.411% (TSFR3M + 3.750%) due 04/01/2031 ~ | 1259 | 1248 |
| **VS Buyer LLC**<br>5.917% (TSFR3M + 2.250%) due 04/12/2031 ~ | 2569 | 2515 |
| **Wash Multifamily Parent, Inc.**<br>6.918% (TSFR1M + 3.250%) due 09/10/2032 ~ | 500 | 502 |
| **Wasserman Media Group LLC**<br>6.168% (TSFR1M + 2.500%) due 06/23/2032 ~ | 2040 | 2035 |
| **WCG Intermediate Corp.**<br>6.418% - 6.439% (TSFR1M + 2.750%) due 02/25/2032 ~ | 846 | 827 |
| **WEC U.S. Holdings Ltd.**<br>5.668% (TSFR1M + 2.000%) due 01/27/2031 ~ | 566 | 566 |
| **Whatabrands LLC**<br>6.168% (TSFR1M + 2.500%) due 08/03/2028 ~ | 2628 | 2627 |
| **White Cap Buyer LLC** |  |  |
| 6.918% (TSFR1M + 3.250%) due 10/19/2029 ~ | 965 | 930 |
| 7.168% (TSFR1M + 3.500%) due 02/10/2033 ~ | 275 | 262 |
| **Wilsonart LLC**<br>7.950% (TSFR3M + 4.250%) due 08/05/2031 ~ | 842 | 736 |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Zayo Group Holdings, Inc. (6.782% Cash and 0.500% PIK)**<br>7.282% (TSFR1M + 0.500%) due 03/11/2030 ~(a) | 1750 | 1721 |
| **Zelis Payments Buyer, Inc.**<br>6.918% (TSFR1M + 3.250%) due 11/26/2031 ~ | 1909 | 1852 |
| Total Loan Participations and Assignments (Cost $319,012) |  | 315710 |
| **CORPORATE BONDS & NOTES 3.4%** |  |  |
| **BANKING & FINANCE 0.2%** |  |  |
| **Asurion LLC/Asurion Co-Issuer, Inc.**<br>8.000% due 12/31/2032 | 375 | 389 |
| **FTAI Aviation Investors LLC**<br>5.500% due 05/01/2028 | 25 | 25 |
| **Panther Escrow Issuer LLC**<br>7.125% due 06/01/2031 | 400 | 402 |
|  |  | 816 |
| **INDUSTRIALS 3.2%** |  |  |
| **APLD ComputeCo 2 LLC**<br>6.750% due 03/15/2031 | 425 | 422 |
| **Axon Enterprise, Inc.**<br>6.125% due 03/15/2030 | 25 | 26 |
| **Beignet Investor LLC**<br>6.581% due 05/30/2049 | 5894 | 6065 |
| **Cerdia Finanz GmbH**<br>9.375% due 10/03/2031 | 275 | 274 |
| **CHS/Community Health Systems, Inc.**<br>6.875% due 04/15/2029 | 400 | 385 |
| **Gray Media, Inc.**<br>9.625% due 07/15/2032 | 450 | 450 |
| **Michaels Cos., Inc.**<br>8.500% due 03/15/2033 | 275 | 268 |
| **Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC**<br>6.750% due 04/01/2032 | 1650 | 1581 |
| **TransDigm, Inc.**<br>6.000% due 01/15/2033 | 700 | 700 |
| **Venture Global LNG, Inc.** |  |  |
| 9.500% due 02/01/2029 | 800 | 865 |
| 9.875% due 02/01/2032 | 225 | 242 |
| **Venture Global Plaquemines LNG LLC** |  |  |
| 6.500% due 01/15/2034 | 300 | 313 |
| 6.750% due 01/15/2036 | 218 | 231 |
|  |  | 11822 |
| Total Corporate Bonds & Notes (Cost $12,587) |  | 12638 |
| **U.S. TREASURY OBLIGATIONS 0.2%** |  |  |
| **U.S. Treasury Bonds** |  |  |
| 4.875% due 08/15/2045 | 244 | 243 |
| **U.S. Treasury Notes** |  |  |
| 4.250% due 08/15/2035 | 400 | 399 |
| Total U.S. Treasury Obligations (Cost $661) |  | 642 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 17.2%** |  |  |
| **MUTUAL FUNDS 0.2%** |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720%(b) | 658014 | 658 |
| **REPURCHASE AGREEMENTS (c) 17.0%** |  | 63900 |
| Total Short-Term Instruments (Cost $64,558) |  | 64558 |
| Total Investments in Securities (Cost $396,818) |  | 393548 |
| Total Investments 105.0% (Cost $396,818) |  | $393548 |
| **Financial Derivative Instruments** **(d)** **0.1**%(Cost or Premiums, net $3,159) |  | 302 |
| Other Assets and Liabilities, net (5.1)% |  | (19026) |
| Net Assets 100.0% |  | $374824 |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund (Cont.) March 31, 2026 (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).** |
| **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.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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.** |
| **(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.** | **Payment in-kind security.** | **Payment in-kind security.** |
| **(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.** |
| **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:** |
| Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | 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> |
| GSC | 3.720% | 03/31/2026 | 04/01/2026 | 04/01/2026 | 63900 | &nbsp;&nbsp; Ginnie Mae 6.500% due 01/20/2056 | &nbsp;&nbsp; Ginnie Mae 6.500% due 01/20/2056 | &nbsp;&nbsp; Ginnie Mae 6.500% due 01/20/2056 | (66254) | (66254) | 63900 | $63907 |
| **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** | **Total Repurchase Agreements** |  |  | **(66254)** | **(66254)** | **63900** | $**63907** |
| <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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. 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 March 31, 2026 was $(15) at a weighted average interest rate of 3.700%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** |
| **(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** |
| **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 | Description | Description |  | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | 06/2026 | 88 | 9520 | $(120) | (120) | 12 | 12 | 0 |
| U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | U.S. Treasury 10-Year Note June Futures | 06/2026 | 16 | 1777 | (21) | (21) | 4 | 4 | 0 |
| U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | 06/2026 | 4 | 466 | (2) | (2) | 1 | 1 | 0 |
|  |  |  |  |  |  |  |  | (143) | $ | 17 | $ | 0 |
| **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 |  | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | 06/2026 | 13 | (1476) | $34 | 34 | 0 | 0 | (4) |
| U.S. Treasury Long-Term Bond June Futures | U.S. Treasury Long-Term Bond June Futures | U.S. Treasury Long-Term Bond June Futures | U.S. Treasury Long-Term Bond June Futures | U.S. Treasury Long-Term Bond June Futures | 06/2026 | 28 | (3189) | 93 | 93 | 0 | 0 | (11) |
|  |  |  |  |  |  |  |  | 127 | $ | 0 | $ | (15) |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **(16)** | **$** | **17** | **$** | **(15)** |
| **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 | 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) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(3)</sup> | Market<br>Value<sup>(3)</sup> | Asset | Liability |
| CDX.HY-43 5-Year Index | CDX.HY-43 5-Year Index | 5.000% | Quarterly | 12/20/2029 | 12/20/2029 | 6262 | $376 | (3) | 373 | 373 | 51 | $0 |
| CDX.HY-44 5-Year Index | CDX.HY-44 5-Year Index | 5.000 | Quarterly | 06/20/2030 | 06/20/2030 | 1535 | 36 | 56 | 92 | 92 | 13 | 0 |
| CDX.HY-45 5-Year Index | CDX.HY-45 5-Year Index | 5.000 | Quarterly | 12/20/2030 | 12/20/2030 | 21433 | 1593 | (429) | 1164 | 1164 | 192 | 0 |
| CDX.HY-46 5-Year Index | CDX.HY-46 5-Year Index | 5.000 | Quarterly | 06/20/2031 | 06/20/2031 | 12525 | 541 | 80 | 621 | 621 | 65 | (2) |
|  |  |  |  |  |  |  | $2546 | (296) | 2250 | 2250 | 321 | $(2) |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund (Cont.) March 31, 2026 (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> |
| Pay/<br>Receive<br>Floating Rate | Floating Rate Index | 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 | Market<br>Value | Asset | Liability |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750% | Annual | 06/15/2027 | 6000 | 6000 | 287 | 287 | (37) | (37) | $250 | 250 | 250 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.326 | Annual | 12/17/2029 | 2900 | 2900 | 1 | 1 | 28 | 28 | 29 | 29 | 29 | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 03/19/2030 | 1825 | 1825 | 72 | 72 | (32) | (32) | 40 | 40 | 40 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2030 | 6750 | 6750 | 125 | 125 | 9 | 9 | 134 | 134 | 134 | 0 | (7) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 03/19/2032 | 1350 | 1350 | 50 | 50 | (20) | (20) | 30 | 30 | 30 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2032 | 3350 | 3350 | 93 | 93 | 9 | 9 | 102 | 102 | 102 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.532 | Annual | 08/20/2034 | 1100 | 1100 | (15) | (15) | 39 | 39 | 24 | 24 | 24 | 0 | (1) |
|  |  |  |  |  |  | $ | 613 | $ | (4) | $ | 609 | 609 | $ | $ | (19) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **3159** | **$** | **(300)** | **$** | **2859** | **2859** | **$** | **$** | **(21)** |
| **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $3,767 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| <sup>(1)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | 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> | 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>(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. |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | 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 | Fair Value<br>at 03/31/2026 | Fair Value<br>at 03/31/2026 |  |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | $ | 288867 | $ | 26843 | 26843 | $ | 315710 |  |
| 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 | 0 | 0 |  | 816 |  | 0 | 0 |  | 816 |  |
| Industrials | Industrials | Industrials | Industrials | Industrials | Industrials | 0 | 0 |  | 11822 |  | 0 | 0 |  | 11822 |  |
| 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 |  | 642 |  | 0 | 0 |  | 642 |  |
| 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 |  | 658 |  | 0 | 0 |  | 658 |  |
| Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | Repurchase Agreements | 0 | 0 |  | 63900 |  | 0 | 0 |  | 63900 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | 0 | 0 | $ | 366705 | $ | 26843 | 26843 | $ | 393548 |  |
| **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 | 0 | 0 | $ | 338 | $ | 0 | 0 | $ | 338 |  |
| **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 | 0 | 0 | $ | (36) | $ | 0 | 0 | $ | (36) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | 0 | 0 | $ | 302 | $ | 0 | 0 | $ | 302 |  |
| Totals | Totals | Totals | Totals | Totals | Totals | 0 | 0 | $ | 367007 | $ | 26843 | 26843 | $ | 393850 |  |
| **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** |
| Category and Subcategory | Beginning<br>Balance<br>at 06/30/2025 | Net<br>Purchases | Net<br>Purchases | Net<br>Sales/Settlements | Accrued<br>Discounts/<br>(Premiums) | Accrued<br>Discounts/<br>(Premiums) | 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 into<br>Level 3 | Transfers out<br>of Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup> |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments 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 | $23931 | $ | $27179 | $(27466) | $ | $ | $ | 531 | $2662 | 2662 | 2662 | $0 | 0 | 26843 | $0 |

---

------

<br> Schedule of Investments PIMCO Senior Loan Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Totals | Totals | $23931 | 27179 | $ | $ | $(27466) | $1 | $5 | $531 | $2662 | $0 | 0 | 26843 | $ | 0 |
| <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) |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | Ending<br>Balance<br>at 03/31/2026 | &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) | 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** |
| Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | $26843 | 26843 | 26843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 76.000 - 100.500 | 76.000 - 100.500 | 98.886 | 98.886 |
| Total | Total | Total | $26843 | 26843 | 26843 |  |  |  |  |  |  |  |  |  |  |
| <sup>(1)</sup> | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund March 31, 2026 (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 99.1% ¤** |  |  |
| **MUNICIPAL BONDS & NOTES 79.0%** |  |  |
| **ALABAMA 4.1%** |  |  |
| **Alabama Housing Finance Authority Revenue Notes, Series 2024**<br>5.000% due 02/01/2029 | $840 | $869 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2021**<br>2.770% (MUNIPSA) due 10/01/2052 ~ | 1500 | 1497 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2022** |  |  |
| 4.000% due 04/01/2053 | 8745 | 8848 |
| 5.250% due 02/01/2053 | 680 | 714 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2023** |  |  |
| 5.250% due 12/01/2053 | 2000 | 2136 |
| 5.500% due 06/01/2049 | 1470 | 1546 |
| 5.500% due 10/01/2054 | 2400 | 2591 |
| **Black Belt Energy Gas District, Alabama Revenue Bonds, Series 2024** |  |  |
| 5.000% due 03/01/2055 | 2700 | 2860 |
| 5.000% due 10/01/2055 | 1800 | 1900 |
| **Black Belt Energy Gas District, Alabama Revenue Notes, Series 2025**<br>5.000% due 10/01/2035 | 4100 | 4274 |
| **Energy Southeast A Cooperative District, Alabama Revenue Bonds, Series 2023**<br>5.750% due 04/01/2054 | 1000 | 1091 |
| **Jefferson County, Alabama Sewer Revenue Notes, Series 2024**<br>5.000% due 10/01/2031 | 3000 | 3278 |
| **Selma Industrial Development Board, Alabama Revenue Bonds, Series 2019**<br>3.450% due 11/01/2033 | 725 | 720 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2023**<br>5.000% due 01/01/2054 | 2400 | 2519 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2024**<br>5.000% due 11/01/2035 | 3300 | 3373 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2025**<br>5.000% due 05/01/2055 | 3500 | 3704 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Notes, Series 2025**<br>5.000% due 11/01/2035 | 1600 | 1672 |
|  |  | 43592 |
| **ARIZONA 1.1%** |  |  |
| **Arizona Health Facilities Authority Revenue Bonds, Series 2015**<br>2.670% (MUNIPSA) due 01/01/2046 ~ | 950 | 944 |
| **Maricopa County, Arizona & Phoenix Industrial Development Authorities Revenue Bonds, (GNMA Insured), Series 2025**<br>5.750% due 03/01/2056 | 1095 | 1193 |
| **Maricopa County, Arizona Industrial Development Authority Revenue Bonds, Series 2023**<br>5.000% due 01/01/2053 | 4355 | 4471 |
| **Maricopa County, Arizona Pollution Control Corp. Revenue Bonds, Series 2003**<br>3.875% due 01/01/2038 | 3000 | 3069 |
| **Town of Gilbert, Arizona General Obligation Notes, Series 2022**<br>5.000% due 07/15/2028 | 1425 | 1505 |
|  |  | 11182 |
| **CALIFORNIA 3.5%** |  |  |
| **Bay Area Toll Authority, California Revenue Bonds, Series 2021**<br>2.830% (MUNIPSA) due 04/01/2056 ~ | 2000 | 1974 |
| **California Community Choice Financing Authority Revenue Bonds, Series 2023**<br>5.000% due 02/01/2054 | 2500 | 2642 |
| **California Health Facilities Financing Authority Revenue Bonds, Series 2025**<br>5.000% due 10/01/2050 | 2600 | 2777 |
| **California Infrastructure & Economic Development Bank Revenue Bonds, Series 2021**<br>3.120% (MUNIPSA) due 12/01/2050 ~ | 1000 | 999 |
| **California State General Obligation Bonds, (AGM Insured), Series 2007**<br>5.250% due 08/01/2032 | 1000 | 1122 |
| **California State General Obligation Bonds, Series 2016**<br>5.000% due 09/01/2031 | 975 | 985 |
| **California State General Obligation Bonds, Series 2017**<br>5.000% due 08/01/2029 | 7000 | 7056 |
| **California State Public Works Board Revenue Notes, Series 2021**<br>5.000% due 11/01/2029 | 1500 | 1624 |
| **California Statewide Communities Development Authority Revenue Notes, Series 2021**<br>1.462% due 02/01/2028 | 3680 | 3497 |
| **East Bay Municipal Utility District Water System, California Revenue Notes, Series 2025**<br>5.000% due 06/01/2028 | 8000 | 8479 |
| **Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021**<br>3.850% due 06/01/2050 | 745 | 681 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Inland Empire Tobacco Securitization Corp. California Revenue Bonds, Series 2019**<br>3.678% due 06/01/2038 | 600 | 584 |
| **San Francisco Unified School District, California General Obligation Notes, Series 2025**<br>5.000% due 06/15/2026 | 3025 | 3041 |
| **Tobacco Securitization Authority of Southern California Revenue Bonds, Series 2019**<br>5.000% due 06/01/2030 | 1000 | 1070 |
|  |  | 36531 |
| **COLORADO 2.2%** |  |  |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2019**<br>5.000% due 08/01/2049 | 1700 | 1702 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2022**<br>2.970% (MUNIPSA) due 05/15/2061 ~ | 5000 | 4999 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2023**<br>5.000% due 11/15/2058 | 1000 | 1052 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2024**<br>5.000% due 11/15/2059 | 2200 | 2355 |
| **Colorado Health Facilities Authority Revenue Notes, Series 2020**<br>2.800% due 12/01/2026 | 175 | 173 |
| **Colorado Health Facilities Authority Revenue Notes, Series 2022**<br>5.000% due 11/01/2026 | 500 | 506 |
| **E-470 Public Highway Authority, Colorado Revenue Bonds, Series 2024**<br>3.182% (SOFRRATE) due 09/01/2039 ~ | 2900 | 2897 |
| **Eagle County, Colorado Housing & Development Authority Revenue Bonds, Series 2025**<br>3.550% due 12/01/2045 | 3750 | 3766 |
| **University of Colorado Revenue Notes, Series 2024**<br>5.000% due 10/01/2028 | 5490 | 5816 |
|  |  | 23266 |
| **CONNECTICUT 3.9%** |  |  |
| **Connecticut Special Tax State Revenue Notes, Series 2022** |  |  |
| 5.000% due 07/01/2027 | 1000 | 1030 |
| 5.000% due 07/01/2029 | 3000 | 3226 |
| **Connecticut State General Obligation Notes, Series 2022**<br>5.000% due 11/15/2028 | 1500 | 1595 |
| **Connecticut State General Obligation Notes, Series 2025**<br>5.000% due 12/01/2030 | 2500 | 2754 |
| **Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2010**<br>2.550% due 07/01/2049 | 12500 | 12500 |
| **Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2017**<br>2.300% due 07/01/2057 | 20000 | 20000 |
|  |  | 41105 |
| **DISTRICT OF COLUMBIA 1.0%** |  |  |
| **District of Columbia General Obligation Bonds, Series 2018**<br>5.000% due 06/01/2030 | 2205 | 2313 |
| **District of Columbia Income Tax Revenue Notes, Series 2025**<br>5.000% due 06/01/2027 | 8000 | 8236 |
|  |  | 10549 |
| **FLORIDA 3.9%** |  |  |
| **Duval County, Florida Public Schools Certificates of Participation Notes, (AGC Insured), Series 2025**<br>5.000% due 07/01/2028 | 3250 | 3416 |
| **Florida Housing Finance Corp. Revenue Bonds, Series 2024**<br>3.500% due 11/01/2042 | 3000 | 3024 |
| **Florida Housing Finance Corp. Revenue Notes, Series 2025**<br>3.650% due 05/01/2028 | 1110 | 1116 |
| **Highlands County, Florida Health Facilities Authority Revenue Bonds, Series 2025**<br>2.700% due 11/15/2060 | 7000 | 7000 |
| **Lee County Industrial Development Authority, Florida Revenue Bonds, Series 2026**<br>5.000% due 04/01/2065 | 1500 | 1651 |
| **Lee County, Florida Housing Finance Authority Revenue Bonds, Series 2026**<br>2.650% due 12/01/2047 | 1600 | 1569 |
| **Miami-Dade County, Florida Housing Finance Authority Revenue Bonds, Series 2025**<br>3.250% due 02/01/2044 | 12500 | 12554 |
| **Mid-Bay Bridge Authority, Florida Revenue Notes, (AGC Insured), Series 2025**<br>5.000% due 10/01/2026 | 2240 | 2264 |
| **Orange County, Florida School Board Certificates of Participation Notes, Series 2024**<br>5.000% due 08/01/2033 | 4000 | 4511 |
| **Palm Beach County, Florida School District Certificates of Participation Notes, Series 2025**<br>5.000% due 08/01/2028 | 3750 | 3948 |
|  |  | 41053 |
| **GEORGIA 4.1%** |  |  |
| **Atlanta Urban Residential Finance Authority, Georgia Revenue Bonds, Series 2024**<br>2.990% due 10/01/2042 | 7300 | 7313 |
| **Bartow County, Georgia Development Authority Revenue Bonds, Series 1997**<br>1.800% due 09/01/2029 | 3000 | 2780 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Cobb County, Georgia Kennestone Hospital Authority Revenue Notes, Series 2023** |  |  |
| 5.000% due 04/01/2029 | 1625 | 1729 |
| 5.000% due 04/01/2030 | 1500 | 1621 |
| **College Park Housing Authority, Georgia Revenue Bonds, Series 2025**<br>3.450% due 04/01/2044 | 3000 | 3020 |
| **Columbus County, Georgia Housing Authority Revenue Notes, (HUD Insured), Series 2025**<br>5.000% due 04/01/2028 | 600 | 612 |
| **DeKalb County, Georgia Housing Authority Revenue Notes, Series 2025**<br>3.230% due 04/01/2026 | 430 | 430 |
| **Development Authority of Burke County, Georgia Revenue Bonds, Series 2013**<br>3.375% due 11/01/2053 | 4350 | 4364 |
| **Development Authority of Burke County, Georgia Revenue Bonds, Series 2018**<br>2.700% due 11/01/2052 | 10000 | 10000 |
| **Douglas County Housing Authority, Georgia Revenue Notes, Series 2024**<br>5.000% due 10/01/2028 | 1000 | 1029 |
| **Housing Authority of the City of Waycross, Georgia Revenue Notes, (HUD Insured), Series 2024**<br>5.000% due 04/01/2028 | 1687 | 1721 |
| **Lawrenceville Housing Authority, Georgia Revenue Notes, Series 2024**<br>5.000% due 10/01/2028 | 1615 | 1663 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2022**<br>4.000% due 09/01/2052 | 1000 | 1010 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2023**<br>5.000% due 06/01/2053 | 750 | 785 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2024**<br>5.000% due 12/01/2054 | 750 | 801 |
| **Municipal Electric Authority of Georgia Revenue Notes, Series 2024** |  |  |
| 5.000% due 01/01/2031 | 1250 | 1363 |
| 5.000% due 01/01/2032 | 1000 | 1104 |
| **Savannah Housing Authority, Georgia Revenue Bonds, Series 2025**<br>3.150% due 07/01/2043 | 1315 | 1317 |
| **Warner Robins Housing Authority Resident Council Corp. Georgia Revenue Notes, Series 2024**<br>5.000% due 02/01/2029 | 775 | 803 |
|  |  | 43465 |
| **IDAHO 0.5%** |  |  |
| **Idaho Housing & Finance Association Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.250% due 01/01/2056 | 1250 | 1408 |
| **Idaho Housing & Finance Association Revenue Bonds, Series 2025**<br>3.350% due 06/10/2050 | 3600 | 3617 |
|  |  | 5025 |
| **ILLINOIS 3.9%** |  |  |
| **Chicago Midway International Airport, Illinois Revenue Notes, (BAM Insured), Series 2023** |  |  |
| 5.000% due 01/01/2028 | 1465 | 1524 |
| 5.000% due 01/01/2029 | 2000 | 2121 |
| **Chicago, Illinois Revenue Notes, Series 2025**<br>3.200% due 10/01/2028 | 2800 | 2809 |
| **Illinois Finance Authority Revenue Bonds, Series 2020**<br>2.700% due 08/15/2049 | 5000 | 5000 |
| **Illinois Finance Authority Revenue Bonds, Series 2021**<br>3.120% (MUNIPSA) due 05/01/2042 ~ | 1000 | 1000 |
| **Illinois Finance Authority Revenue Notes, Series 2025**<br>5.000% due 08/15/2031 | 5000 | 5419 |
| **Illinois Housing Development Authority Revenue Notes, (HUD Insured), Series 2024**<br>5.000% due 10/01/2027 | 2000 | 2020 |
| **Illinois Housing Development Authority Revenue Notes, Series 2025**<br>3.150% due 02/01/2029 | 4750 | 4759 |
| **Illinois State General Obligation Notes, Series 2020** |  |  |
| 5.000% due 10/01/2028 | 3200 | 3360 |
| 5.500% due 05/01/2030 | 7750 | 8215 |
| **Illinois State General Obligation Notes, Series 2024**<br>5.000% due 05/01/2029 | 3000 | 3179 |
| **Illinois State Toll Highway Authority Revenue Notes, Series 2024**<br>5.000% due 01/01/2031 | 1250 | 1370 |
|  |  | 40776 |
| **INDIANA 1.7%** |  |  |
| **Indiana Finance Authority Revenue Bonds, Series 2010** |  |  |
| 2.550% due 05/01/2028 | 1800 | 1800 |
| 3.000% due 11/01/2030 | 2500 | 2435 |
| **Indiana Finance Authority Revenue Bonds, Series 2012**<br>3.000% due 11/01/2030 | 4400 | 4285 |
| **Indiana Finance Authority Revenue Bonds, Series 2023**<br>5.000% due 10/01/2062 | 2000 | 2091 |
| **Indiana Finance Authority Revenue Bonds, Series 2025**<br>5.000% due 10/01/2063 | 1500 | 1636 |
| **Indiana Finance Authority Revenue Notes, Series 2025**<br>5.000% due 11/15/2028 | 4300 | 4542 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Whiting, Indiana Revenue Bonds, Series 2008**<br>4.200% due 06/01/2044 | 1600 | 1648 |
|  |  | 18437 |
| **KANSAS 1.3%** |  |  |
| **Burlington, Kansas Revenue Bonds, Series 2023**<br>4.300% due 03/01/2045 | 5500 | 5503 |
| **Kansas Development Finance Authority Revenue Notes, Series 2025**<br>5.000% due 09/01/2028 | 1000 | 1028 |
| **Kansas Housing Development Finance Authority Revenue Notes, (HUD Insured), Series 2024**<br>3.010% due 11/01/2027 | 2400 | 2402 |
| **Shawnee County, Kansas Revenue Bonds, Series 2025**<br>3.750% due 05/01/2059 | 5000 | 5034 |
|  |  | 13967 |
| **KENTUCKY 2.0%** |  |  |
| **Kentucky Asset Liability Commission Revenue Notes, Series 2024**<br>5.000% due 09/01/2026 | 5000 | 5046 |
| **Kentucky Economic Development Finance Authority Revenue Bonds, Series 2010**<br>2.550% due 05/01/2028 | 2700 | 2700 |
| **Kentucky Economic Development Finance Authority Revenue Bonds, Series 2015**<br>4.250% due 07/01/2035 | 1000 | 1000 |
| **Kentucky Public Energy Authority Revenue Bonds, Series 2024**<br>5.000% due 01/01/2055 | 750 | 794 |
| **Kentucky Public Energy Authority Revenue Bonds, Series 2025**<br>5.250% due 06/01/2055 | 3750 | 3970 |
| **Kentucky Public Energy Authority Revenue Notes, Series 2025**<br>5.000% due 05/01/2036 | 5400 | 5688 |
| **Kentucky State Property & Building Commission Revenue Bonds, Series 2016**<br>5.000% due 11/01/2028 | 1810 | 1837 |
| **Kentucky State Property & Building Commission Revenue Notes, Series 2022**<br>5.000% due 06/01/2031 | 500 | 551 |
|  |  | 21586 |
| **LOUISIANA 0.6%** |  |  |
| **Louisiana Housing Corp. Revenue Notes, (FHA Insured), Series 2024**<br>5.000% due 04/01/2028 | 4200 | 4282 |
| **Louisiana Public Facilities Authority Revenue Notes, Series 2025**<br>5.000% due 05/15/2030 | 1800 | 1932 |
|  |  | 6214 |
| **MARYLAND 1.0%** |  |  |
| **Howard County, Maryland General Obligation Notes, Series 2018**<br>5.000% due 02/15/2027 | 3000 | 3068 |
| **Maryland Community Development Administration Revenue Notes, Series 2025**<br>3.700% due 01/01/2029 | 3450 | 3485 |
| **Maryland Department of Housing & Community Development Corp. Revenue Bonds, Series 2025**<br>6.250% due 09/01/2056 | 3085 | 3423 |
| **Prince George's County, Maryland General Obligation Notes, Series 2024**<br>5.000% due 09/01/2026 | 440 | 445 |
|  |  | 10421 |
| **MASSACHUSETTS 2.1%** |  |  |
| **Commonwealth of Massachusetts General Obligation Notes, Series 2025**<br>5.000% due 07/01/2035 | 3500 | 4025 |
| **Commonwealth of Massachusetts Special Obligation Revenue Bonds, (BAM Insured), Series 2005**<br>5.500% due 01/01/2034 | 5000 | 5715 |
| **Massachusetts Bay Transportation Authority Sales Tax Revenue Notes, Series 2023**<br>5.000% due 07/01/2029 | 1300 | 1403 |
| **Massachusetts Development Finance Agency Revenue Bonds, Series 2026**<br>2.350% due 07/01/2061 | 11000 | 11000 |
|  |  | 22143 |
| **MICHIGAN 2.5%** |  |  |
| **Detroit, Michigan Sewage Disposal System Revenue Bonds, (AGM Insured), Series 2006**<br>3.228% (TSFR3M) due 07/01/2032 ~ | 2000 | 1994 |
| **Michigan Finance Authority Hospital Revenue Refunding Bonds, Series 2022**<br>3.170% (MUNIPSA) due 04/15/2047 ~ | 3000 | 2994 |
| **Michigan Finance Authority Revenue Bonds, Series 2015**<br>1.200% due 10/15/2030 | 2000 | 1905 |
| **Michigan Finance Authority Revenue Notes, Series 2024** |  |  |
| 5.000% due 02/28/2029 | 900 | 947 |
| 5.000% due 02/28/2030 | 1170 | 1248 |
| **Michigan State Building Authority Revenue Bonds, Series 2020**<br>2.520% due 10/15/2042 | 1000 | 1000 |
| **Michigan State Housing Development Authority Revenue Bonds, Series 2023**<br>2.670% due 12/01/2042 | 1965 | 1965 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Michigan State Housing Development Authority Revenue Bonds, Series 2024**<br>6.250% due 06/01/2055 | 690 | 755 |
| **Michigan State Housing Development Authority Revenue Notes, (HUD Insured), Series 2025**<br>2.920% due 05/01/2029 | 3500 | 3493 |
| **Michigan State Housing Development Authority Revenue Notes, Series 2025**<br>3.350% due 09/01/2027 | 985 | 988 |
| **Michigan Trunk Line State Revenue Notes, Series 2023**<br>5.000% due 11/15/2026 | 1500 | 1524 |
| **Western Michigan University Revenue Notes, (AGC Insured), Series 2025**<br>5.000% due 11/15/2028 | 7530 | 7958 |
|  |  | 26771 |
| **MINNESOTA 0.8%** |  |  |
| **Housing & Redevelopment Authority of The City of St Paul Minnesota Revenue Bonds, Series 2017** |  |  |
| 5.000% due 11/15/2028 | 600 | 615 |
| 5.000% due 11/15/2029 | 550 | 563 |
| **Housing & Redevelopment Authority of The City of St Paul Minnesota Revenue Notes, Series 2025**<br>5.000% due 07/01/2028 | 5200 | 5428 |
| **Minnesota Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.250% due 07/01/2055 | 1970 | 2208 |
|  |  | 8814 |
| **MISSISSIPPI 0.2%** |  |  |
| **Mississippi Home Corp. Revenue Bonds, (HUD Insured), Series 2025**<br>3.625% due 06/01/2043 | 2250 | 2257 |
| **MISSOURI 2.0%** |  |  |
| **Health & Educational Facilities Authority of the State of Missouri Revenue Notes, Series 2023**<br>5.000% due 05/01/2033 | 2650 | 2966 |
| **Industrial Development Authority of the City of St Louis Missouri Revenue Bonds, Series 2025**<br>3.150% due 04/01/2046 | 1100 | 1101 |
| **Kansas City Area Transportation Authority, Missouri Revenue Bonds, Series 2024**<br>3.050% due 10/01/2045 | 4220 | 4223 |
| **Missouri Housing Development Commission Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025** |  |  |
| 6.000% due 05/01/2056 | 3000 | 3303 |
| 6.250% due 05/01/2056 | 8500 | 9457 |
|  |  | 21050 |
| **MONTANA 0.2%** |  |  |
| **Montana Board of Housing Revenue Notes, Series 2024**<br>5.000% due 09/01/2028 | 1800 | 1850 |
| **NEBRASKA 0.2%** |  |  |
| **Nebraska Public Power District Revenue Notes, Series 2023**<br>5.000% due 07/01/2028 | 1750 | 1822 |
| **NEVADA 0.6%** |  |  |
| **Clark County, Nevada General Obligation Bonds, Series 2018**<br>5.000% due 06/01/2030 | 1470 | 1545 |
| **Clark County, Nevada General Obligation Bonds, Series 2019**<br>5.000% due 07/01/2031 | 2150 | 2303 |
| **Washoe County, Nevada Revenue Bonds, Series 2016**<br>3.625% due 03/01/2036 | 2000 | 2013 |
|  |  | 5861 |
| **NEW HAMPSHIRE 0.5%** |  |  |
| **New Hampshire Business Finance Authority Revenue Notes, Series 2021**<br>4.000% due 01/01/2027 | 250 | 251 |
| **New Hampshire Health and Education Facilities Authority Act Revenue Notes, Series 2025** |  |  |
| 5.000% due 08/01/2031 | 1235 | 1346 |
| 5.000% due 08/01/2032 | 3000 | 3300 |
|  |  | 4897 |
| **NEW JERSEY 1.3%** |  |  |
| **New Jersey Economic Development Authority Revenue Notes, Series 2023**<br>5.000% due 03/01/2028 | 2200 | 2300 |
| **New Jersey Housing & Mortgage Finance Agency Revenue Bonds, Series 2025**<br>6.500% due 04/01/2056 | 1100 | 1228 |
| **New Jersey State General Obligation Notes, Series 2020**<br>5.000% due 06/01/2028 | 2000 | 2106 |
| **New Jersey Turnpike Authority Revenue Notes, Series 2020**<br>5.000% due 01/01/2028 | 2460 | 2526 |
| **Tobacco Settlement Financing Corp. New Jersey Revenue Bonds, Series 2018**<br>5.000% due 06/01/2046 | 500 | 487 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Tobacco Settlement Financing Corp. New Jersey Revenue Notes, Series 2018**<br>5.000% due 06/01/2026 | 4750 | 4766 |
|  |  | 13413 |
| **NEW MEXICO 0.1%** |  |  |
| **New Mexico Mortgage Finance Authority Revenue Bonds, (HUD Insured), Series 2023**<br>2.920% due 02/01/2042 | 700 | 700 |
| **NEW YORK 9.5%** |  |  |
| **Chautauqua County, New York Capital Resource Corp. Revenue Bonds, Series 2020**<br>4.250% due 04/01/2042 | 2000 | 2032 |
| **Long Island Power Authority, New York Revenue Bonds, Series 2025**<br>3.000% due 09/01/2055 | 3900 | 3903 |
| **Metropolitan Transportation Authority, New York Revenue Bonds, (AGM Insured), Series 2002**<br>3.232% (SOFRRATE) due 11/01/2032 ~ | 1500 | 1500 |
| **New York City, New York General Obligation Bonds, Series 2015**<br>2.850% due 06/01/2044 | 2000 | 2000 |
| **New York City, New York General Obligation Bonds, Series 2019**<br>2.850% due 10/01/2046 | 10000 | 10000 |
| **New York City, New York Housing Development Corp. Revenue Bonds, Series 2025**<br>3.750% due 05/01/2065 | 3900 | 3951 |
| **New York City, New York Municipal Water Finance Authority Revenue Bonds, Series 2013** |  |  |
| 2.650% due 06/15/2048 | 4700 | 4700 |
| 2.700% due 06/15/2050 | 15400 | 15400 |
| **New York City, New York Municipal Water Finance Authority Revenue Bonds, Series 2014**<br>2.850% due 06/15/2050 | 4000 | 4000 |
| **New York City, New York Municipal Water Finance Authority Revenue Bonds, Series 2022** |  |  |
| 2.650% due 06/15/2044 | 6500 | 6500 |
| 2.850% due 06/15/2033 | 10000 | 10000 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2012**<br>2.700% due 11/01/2036 | 3800 | 3800 |
| **New York City, New York Transitional Finance Authority Revenue Bonds, Series 2024**<br>5.000% due 11/01/2036 | 3500 | 3893 |
| **New York City, New York Transitional Finance Authority Revenue Notes, Series 2025**<br>5.000% due 05/01/2030 | 3725 | 4055 |
| **New York Power Authority Revenue Notes, (AGM Insured), Series 2023**<br>5.000% due 11/15/2027 | 1700 | 1773 |
| **New York State Dormitory Authority Revenue Bonds, Series 2016** |  |  |
| 5.000% due 02/15/2028 | 4565 | 4608 |
| 5.000% due 03/15/2035 | 4500 | 4542 |
| 5.000% due 03/15/2036 | 1500 | 1513 |
| **New York State Housing Finance Agency Revenue Bonds, Series 2025**<br>3.600% due 11/01/2064 | 4300 | 4323 |
| **Port Authority of New York & New Jersey Revenue Bonds, Series 2017**<br>5.000% due 11/15/2029 | 1110 | 1152 |
| **Triborough Bridge & Tunnel Authority, New York Revenue Notes, Series 2025**<br>5.000% due 03/01/2028 | 6000 | 6277 |
|  |  | 99922 |
| **NORTH CAROLINA 2.8%** |  |  |
| **Charlotte-Mecklenburg Hospital Authority, North Carolina Revenue Bonds, Series 2007**<br>2.750% due 01/15/2037 | 6000 | 6000 |
| **Durham Housing Authority, North Carolina Revenue Notes, (FHA Insured), Series 2025**<br>3.625% due 04/01/2029 | 3000 | 3035 |
| **Inlivian, North Carolina Revenue Bonds, Series 2025** |  |  |
| 3.300% due 11/10/2043 | 2600 | 2618 |
| 3.625% due 11/01/2058 | 5400 | 5446 |
| **North Carolina Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024**<br>6.250% due 07/01/2055 | 1275 | 1393 |
| **North Carolina Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.500% due 01/01/2056 | 1700 | 1932 |
| **North Carolina State Revenue Notes, Series 2025**<br>5.000% due 03/01/2030 | 5000 | 5426 |
| **Raleigh Housing Authority, North Carolina Revenue Bonds, Series 2025**<br>2.950% due 09/01/2059 | 4000 | 3982 |
|  |  | 29832 |
| **NORTH DAKOTA 0.1%** |  |  |
| **North Dakota Housing Finance Agency Revenue Bonds, Series 2025**<br>6.000% due 01/01/2056 | 1100 | 1205 |
| **OHIO 1.8%** |  |  |
| **Buckeye Tobacco Settlement Financing Authority, Ohio Revenue Notes, Series 2020**<br>5.000% due 06/01/2027 | 1120 | 1148 |
| **Franklin County, Ohio Revenue Bonds, Series 2022**<br>2.700% due 11/01/2042 | 5200 | 5200 |
| **Franklin County, Ohio Revenue Notes, Series 2025** |  |  |
| 5.000% due 11/01/2027 | 700 | 726 |
| 5.000% due 11/01/2028 | 1080 | 1142 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Lancaster Port Authority, Ohio Revenue Bonds, Series 2024**<br>5.000% due 02/01/2055 | 650 | 684 |
| **Ohio Air Quality Development Authority Revenue Bonds, Series 2009**<br>4.750% due 06/01/2033 | 900 | 929 |
| **Ohio Air Quality Development Authority Revenue Notes, Series 2022**<br>4.000% due 09/01/2030 | 2900 | 2930 |
| **Ohio Housing Finance Agency Revenue Bonds, Series 2025**<br>3.700% due 11/01/2047 | 1150 | 1159 |
| **Ohio Water Development Authority Water Pollution Control Loan Fund Revenue Bonds, Series 2009**<br>4.750% due 06/01/2033 | 4500 | 4643 |
| **Port of Greater Cincinnati Development Authority, Ohio Revenue Bonds, (AGM Insured), Series 2024**<br>5.000% due 12/01/2034 | 415 | 466 |
| **Worthington City School District, Ohio General Obligation Notes, Series 2023**<br>0.000% due 12/01/2029 (b) | 500 | 443 |
|  |  | 19470 |
| **OKLAHOMA 0.4%** |  |  |
| **Oklahoma Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.500% due 09/01/2056 | 2975 | 3376 |
| **Oklahoma Housing Finance Agency Revenue Bonds, (HUD Insured), Series 2025**<br>3.200% due 10/01/2042 | 750 | 750 |
|  |  | 4126 |
| **OREGON 0.3%** |  |  |
| **Multnomah County School District 40, Oregon General Obligation Notes, Series 2023**<br>0.000% due 06/15/2027 (b) | 325 | 314 |
| **Oregon Department of Transportation State Revenue Notes, Series 2024**<br>5.000% due 05/15/2026 | 1000 | 1003 |
| **Oregon State Facilities Authority Revenue Notes, Series 2020**<br>5.000% due 10/01/2026 | 145 | 146 |
| **Oregon State General Obligation Notes, Series 2023**<br>5.000% due 05/01/2026 | 1625 | 1628 |
|  |  | 3091 |
| **PENNSYLVANIA 1.3%** |  |  |
| **Allegheny County, Pennsylvania Hospital Development Authority Revenue Bonds, Series 2017**<br>3.120% (MUNIPSA) due 11/15/2047 ~ | 5000 | 4964 |
| **Lehigh County, Pennsylvania Revenue Bonds, Series 2019**<br>3.520% (MUNIPSA) due 08/15/2038 ~(e) | 2360 | 2330 |
| **Montgomery County Industrial Development Authority, Pennsylvania Revenue Notes, Series 2023**<br>4.100% due 06/01/2029 | 1000 | 1030 |
| **Pennsylvania Housing Finance Agency Revenue Notes, Series 2026**<br>2.650% due 09/01/2029 | 1950 | 1924 |
| **Pennsylvania Turnpike Commission Revenue Notes, Series 2024**<br>5.000% due 12/01/2031 | 2150 | 2377 |
| **Westmoreland County Industrial Development Authority, Pennsylvania Revenue Notes, Series 2020**<br>4.000% due 07/01/2026 | 1250 | 1251 |
|  |  | 13876 |
| **PUERTO RICO 0.4%** |  |  |
| **Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2018**<br>4.500% due 07/01/2034 | 4750 | 4750 |
| **SOUTH CAROLINA 0.8%** |  |  |
| **Charleston Educational Excellence Finance Corp. South Carolina Revenue Notes, Series 2024** |  |  |
| 5.000% due 12/01/2026 | 1000 | 1017 |
| 5.000% due 12/01/2027 | 1000 | 1040 |
| **Patriots Energy Group Financing Agency, South Carolina Revenue Bonds, Series 2023**<br>5.250% due 02/01/2054 | 1400 | 1495 |
| **South Carolina Public Service Authority Revenue Notes, Series 2025**<br>5.000% due 12/01/2028 | 2350 | 2488 |
| **South Carolina State Housing Finance & Development Authority Revenue Bonds, (HUD Insured), Series 2024**<br>3.000% due 04/01/2043 | 2200 | 2201 |
|  |  | 8241 |
| **TENNESSEE 0.9%** |  |  |
| **Metropolitan Government Nashville & Davidson County, Tennessee Health & Educational Facs Bd Revenue Bonds, Series 2022**<br>3.350% due 06/01/2044 | 1545 | 1547 |
| **Metropolitan Government Nashville & Davidson County, Tennessee Health & Educational Facs Bd Revenue Bonds, Series 2025**<br>3.150% due 12/01/2042 | 1700 | 1703 |
| **Metropolitan Government of Nashville & Davidson County Sports Auth, Tennessee Revenue Notes, Series 2023**<br>5.000% due 07/01/2029 | 1000 | 1073 |
| **Metropolitan Government of Nashville & Davidson County, Tennessee Health & Educational Facs Bd Revenue Notes, (FHA Insured), Series 2025**<br>5.000% due 10/01/2028 | 750 | 772 |
| **Tennergy Corp. Tennessee Revenue Bonds, Series 2022**<br>5.500% due 10/01/2053 | 1250 | 1329 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Tennessee Energy Acquisition Corp. Revenue Bonds, Series 2021**<br>5.000% due 05/01/2052 | 3220 | 3406 |
|  |  | 9830 |
| **TEXAS 11.7%** |  |  |
| **Austin Affordable PFC Inc., Texas Revenue Notes, Series 2024**<br>5.000% due 09/01/2028 | 1060 | 1091 |
| **Austin, Texas Electric Utility Revenue Notes, Series 2025**<br>5.000% due 11/15/2028 | 2750 | 2912 |
| **Capital Area Housing Finance Corp., Texas Revenue Bonds, Series 2020**<br>3.200% due 01/01/2041 | 3200 | 3202 |
| **Central Texas Regional Mobility Authority Revenue Notes, Series 2018**<br>5.000% due 01/01/2027 | 1100 | 1120 |
| **Central Texas Turnpike System Revenue Bonds, Series 2024**<br>5.000% due 08/15/2042 | 1400 | 1498 |
| **Dallas Fort Worth International Airport, Texas Revenue Notes, Series 2023**<br>5.000% due 11/01/2028 | 2000 | 2118 |
| **Dallas Fort Worth International Airport, Texas Revenue Notes, Series 2024**<br>5.000% due 11/01/2028 | 1500 | 1589 |
| **Dallas Housing Finance Corp. Texas Revenue Notes, Series 2024**<br>5.000% due 10/01/2028 | 935 | 962 |
| **Dallas Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025**<br>5.000% due 02/15/2055 | 7000 | 7410 |
| **Denton Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025**<br>4.000% due 08/15/2055 | 2000 | 2081 |
| **Denton Independent School District, Texas General Obligation Notes, (PSF Insured), Series 2020**<br>5.000% due 08/15/2028 | 2000 | 2050 |
| **EP Tuscany Zaragosa PFC, Texas Revenue Notes, Series 2023**<br>4.000% due 12/01/2033 | 2500 | 2498 |
| **Fort Bend Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2025**<br>3.800% due 08/01/2055 | 14000 | 14259 |
| **Grand Parkway Transportation Corp. Texas Revenue Bonds, Series 2023**<br>5.000% due 10/01/2052 | 2500 | 2585 |
| **Harris County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2019**<br>5.000% due 07/01/2049 | 2500 | 2535 |
| **Harris County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2021**<br>2.700% due 10/01/2041 | 10090 | 10090 |
| **Harris County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2024**<br>5.000% due 07/01/2054 | 2000 | 2117 |
| **Harris County, Texas Cultural Education Facilities Finance Corp. Revenue Notes, Series 2024**<br>5.000% due 10/01/2031 | 800 | 883 |
| **Harris County, Texas Housing Finance Corp. Revenue Bonds, Series 2025**<br>2.950% due 09/01/2043 | 4500 | 4484 |
| **Harris County, Texas Toll Road Revenue Notes, Series 2024**<br>5.000% due 08/15/2027 | 2250 | 2324 |
| **Las Varas Public Facility Corp. Texas Revenue Bonds, Series 2025**<br>4.000% due 05/01/2043 | 6000 | 6083 |
| **Liberty Hill Independent School District, Texas General Obligation Notes, (PSF Insured), Series 2022**<br>5.000% due 02/01/2027 | 2000 | 2040 |
| **Lubbock Housing Finance Corp, Texas Revenue Notes, (HUD Insured), Series 2026**<br>2.800% due 03/01/2029 | 1000 | 994 |
| **Matagorda County, Texas Navigation District No 1, Revenue Bonds, Series 2001**<br>2.600% due 11/01/2029 | 1500 | 1460 |
| **North Texas Tollway Authority Revenue Notes, Series 2023**<br>5.000% due 01/01/2027 | 2750 | 2799 |
| **Northside Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2022**<br>2.000% due 06/01/2052 | 1300 | 1286 |
| **San Antonio, Texas Electric & Gas Systems Revenue Bonds, Series 2015**<br>1.125% due 12/01/2045 | 2500 | 2453 |
| **San Antonio, Texas Electric & Gas Systems Revenue Bonds, Series 2025**<br>3.080% due 02/01/2055 | 4500 | 4493 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2022**<br>5.000% due 11/15/2052 | 1900 | 1905 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2024**<br>2.550% due 08/01/2050 | 6300 | 6300 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2025**<br>5.000% due 11/15/2064 | 2800 | 3094 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2026**<br>2.700% due 11/15/2063 | 4000 | 4000 |
| **Tarrant Regional Water District, Texas Revenue Notes, Series 2021**<br>1.050% due 09/01/2027 | 5000 | 4810 |
| **Texas Department of Housing & Community Affairs Revenue Bonds, (GNMA Insured), Series 2025**<br>6.000% due 01/01/2056 | 1990 | 2215 |
| **Texas Municipal Gas Acquisition & Supply Corp. III Revenue Notes, Series 2021**<br>5.000% due 12/15/2030 | 1750 | 1852 |
| **Texas Municipal Gas Acquisition & Supply Corp. Revenue Bonds, Series 2006**<br>4.087% (TSFR3M) due 12/15/2026 ~ | 1000 | 1000 |
| **Texas State General Obligation Bonds, Series 2024**<br>5.000% due 10/01/2044 | 500 | 537 |
| **THF Public Facility Corp. Texas Revenue Bonds, Series 2025**<br>3.340% due 02/01/2044 | 1580 | 1590 |
| **Travis County, Texas Housing Finance Corp. Revenue Bonds, Series 2022**<br>4.125% due 06/01/2045 | 1000 | 1002 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **University of North Texas System Revenue Notes, Series 2025** |  |  |
| 5.000% due 04/15/2027 | 2000 | 2051 |
| 5.000% due 04/15/2028 | 1500 | 1570 |
| 5.000% due 04/15/2029 | 1400 | 1493 |
|  |  | 122835 |
| **UTAH 0.3%** |  |  |
| **Downtown Revitalization Public Infrastructure District, Utah Revenue Notes, (AGC Insured), Series 2025** |  |  |
| 5.000% due 06/01/2027 | 500 | 513 |
| 5.000% due 06/01/2028 | 675 | 707 |
| **Utah Housing Corp. Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025**<br>6.500% due 07/01/2055 | 1380 | 1565 |
|  |  | 2785 |
| **VIRGINIA 0.6%** |  |  |
| **Arlington County, Virginia Industrial Development Authority Revenue Bonds, Series 2023**<br>5.000% due 07/01/2053 | 1600 | 1707 |
| **Arlington County, Virginia Industrial Development Authority Revenue Bonds, Series 2025**<br>2.950% due 09/01/2049 | 2125 | 2112 |
| **Richmond Redevelopment & Housing Authority, Virginia Revenue Bonds, Series 2025**<br>3.100% due 12/01/2055 | 1300 | 1300 |
| **Virginia Public Building Authority Revenue Bonds, Series 2015**<br>4.000% due 08/01/2030 | 1300 | 1301 |
|  |  | 6420 |
| **WASHINGTON 1.3%** |  |  |
| **Energy Northwest, Washington Revenue Notes, Series 2024**<br>5.000% due 07/01/2027 | 5000 | 5152 |
| **Seattle, Washington Municipal Light & Power Revenue Bonds, Series 2021**<br>2.670% (MUNIPSA) due 05/01/2045 ~ | 3000 | 2984 |
| **Washington Health Care Facilities Authority Revenue Notes, Series 2025**<br>5.000% due 10/01/2030 | 1400 | 1508 |
| **Washington State General Obligation Notes, Series 2022**<br>4.000% due 07/01/2026 | 1000 | 1004 |
| **Washington State Housing Finance Commission Revenue Bonds, Series 2023**<br>3.375% due 04/20/2037 | 1317 | 1220 |
| **Washington State Housing Finance Commission Revenue Bonds, Series 2025**<br>2.700% due 04/01/2044 | 1825 | 1809 |
|  |  | 13677 |
| **WEST VIRGINIA 0.8%** |  |  |
| **West Virginia Economic Development Authority Revenue Bonds, Series 2015**<br>3.375% due 03/01/2040 | 3000 | 3021 |
| **West Virginia Housing Development Fund Revenue Notes, (HUD Insured), Series 2024**<br>5.000% due 12/01/2027 | 4954 | 5024 |
|  |  | 8045 |
| **WISCONSIN 0.7%** |  |  |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2022**<br>3.700% due 10/01/2046 | 2500 | 2528 |
| **Public Finance Authority, Wisconsin Revenue Notes, Series 2021**<br>4.000% due 10/01/2026 | 305 | 306 |
| **Wisconsin Health & Educational Facilities Authority Revenue Bonds, Series 2018**<br>2.600% (MUNIPSA) due 08/15/2054 ~ | 2500 | 2495 |
| **Wisconsin Housing & Economic Development Authority Revenue Bonds, Series 2024**<br>5.000% due 08/01/2058 | 2000 | 2013 |
|  |  | 7342 |
| Total Municipal Bonds & Notes (Cost $826,990) |  | 832194 |
| **U.S. TREASURY OBLIGATIONS 6.9%** |  |  |
| **U.S. Treasury Notes** |  |  |
| 3.375% due 02/29/2028 | 26000 | 25797 |
| 3.500% due 02/28/2031 | 21300 | 20888 |
| 4.125% due 03/31/2031 | 1700 | 1712 |
| 4.250% due 02/28/2031 | 9900 | 10030 |
| 4.625% due 04/30/2031 | 13400 | 13800 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total U.S. Treasury Obligations (Cost $72,257) |  | 72227 |
|  | SHARES |  |
| **SHORT-TERM INSTRUMENTS 13.2%** |  |  |
| **MUTUAL FUNDS 0.2%** |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 3.720%(d) | 2093421 | 2094 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **SHORT-TERM NOTES 6.2%** |  |  |
| **Federal Home Loan Bank Discount Notes** |  |  |
| 3.611% due 07/01/2026 (b)(c) | $3700 | 3666 |
| 3.631% due 06/22/2026 (b)(c) | 1200 | 1190 |
| 3.637% due 08/14/2026 (b)(c) | 10200 | 10062 |
| 3.643% due 09/04/2026 (b)(c) | 10000 | 9844 |
| 3.659% due 07/29/2026 (b)(c) | 8900 | 8793 |
| 3.686% due 05/20/2026 (b)(c) | 2300 | 2289 |
| 3.688% due 05/27/2026 (b)(c) | 17700 | 17599 |
| 3.692% due 05/15/2026 (b)(c) | 6500 | 6471 |
| 3.719% due 06/22/2026 (b)(c) | 3700 | 3669 |
| 3.724% due 06/22/2026 (b)(c) | 1500 | 1488 |
|  |  | 65071 |
| **U.S. TREASURY BILLS 4.7%** |  |  |
| 3.662% due 04/02/2026 - 07/23/2026 (a)(b) | 49900 | 49705 |
| **MUNICIPAL BONDS & NOTES 2.1%** |  |  |
| **Albany City School District, New York General Obligation Notes, Series 2025**<br>4.000% due 06/25/2026 | 4500 | 4513 |
| **Austin, Texas Electric Utility Revenue Notes, Series 2025**<br>5.000% due 11/15/2026 | 2000 | 2030 |
| **Chittenango Central School District, New York General Obligation Notes, Series 2025**<br>4.000% due 06/25/2026 | 5500 | 5515 |
| **County of Franklin, Ohio Revenue Notes, Series 2025**<br>5.000% due 11/01/2026 | 800 | 811 |
| **Downtown Revitalization Public Infrastructure District, Utah Revenue Notes, (AGC Insured), Series 2025**<br>5.000% due 06/01/2026 | 700 | 703 |
| **Honeoye Falls-Lima Central School District, New York General Obligation Notes, Series 2025**<br>4.000% due 06/25/2026 | 1000 | 1003 |
| **North Syracuse Central School District, New York General Obligation Notes, Series 2025**<br>4.000% due 07/31/2026 | 3000 | 3014 |
| **Starpoint Central School District, New York General Obligation Notes, Series 2025**<br>4.000% due 06/26/2026 | 3000 | 3008 |
| **Yuma, Arizona Revenue Notes, Series 2025**<br>5.000% due 07/01/2026 | 1700 | 1710 |
| Total Municipal Bonds & Notes (Cost $22,290) |  | 22307 |
| Total Short-Term Instruments (Cost $139,174) |  | 139177 |
| Total Investments in Securities (Cost $1,038,421) |  | 1043598 |
| Total Investments 99.1% (Cost $1,038,421) |  | $1043598 |
| Other Assets and Liabilities, net 0.9% |  | 9346 |
| Net Assets 100.0% |  | $1052944 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate 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.** |
| **(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.** |
| **(b)** | **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.** |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **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 Value<br>as Percentage<br>of Net Assets |
| Lehigh County, Pennsylvania Revenue Bonds, Series 2019 | % | % | 08/15/2038 | 09/14/2021 | 09/14/2021 | 2386 | 0.22% |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **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 |
| Alabama | Alabama | $ | $0 | 0 | $43592 | $0 | 43592 |
| Arizona | Arizona |  | 0 | 0 | 11182 | 0 | 11182 |
| California | California |  | 0 | 0 | 36531 | 0 | 36531 |
| Colorado | Colorado |  | 0 | 0 | 23266 | 0 | 23266 |
| Connecticut | Connecticut |  | 0 | 0 | 41105 | 0 | 41105 |
| District of Columbia | District of Columbia |  | 0 | 0 | 10549 | 0 | 10549 |
| Florida | Florida |  | 0 | 0 | 41053 | 0 | 41053 |
| Georgia | Georgia |  | 0 | 0 | 43465 | 0 | 43465 |
| Idaho | Idaho |  | 0 | 0 | 5025 | 0 | 5025 |
| Illinois | Illinois |  | 0 | 0 | 40776 | 0 | 40776 |
| Indiana | Indiana |  | 0 | 0 | 18437 | 0 | 18437 |
| Kansas | Kansas |  | 0 | 0 | 13967 | 0 | 13967 |
| Kentucky | Kentucky |  | 0 | 0 | 21586 | 0 | 21586 |
| Louisiana | Louisiana |  | 0 | 0 | 6214 | 0 | 6214 |
| Maryland | Maryland |  | 0 | 0 | 10421 | 0 | 10421 |
| Massachusetts | Massachusetts |  | 0 | 0 | 22143 | 0 | 22143 |
| Michigan | Michigan |  | 0 | 0 | 26771 | 0 | 26771 |
| Minnesota | Minnesota |  | 0 | 0 | 8814 | 0 | 8814 |
| Mississippi | Mississippi |  | 0 | 0 | 2257 | 0 | 2257 |
| Missouri | Missouri |  | 0 | 0 | 21050 | 0 | 21050 |
| Montana | Montana |  | 0 | 0 | 1850 | 0 | 1850 |
| Nebraska | Nebraska |  | 0 | 0 | 1822 | 0 | 1822 |
| Nevada | Nevada |  | 0 | 0 | 5861 | 0 | 5861 |
| New Hampshire | New Hampshire |  | 0 | 0 | 4897 | 0 | 4897 |
| New Jersey | New Jersey |  | 0 | 0 | 13413 | 0 | 13413 |
| New Mexico | New Mexico |  | 0 | 0 | 700 | 0 | 700 |
| New York | New York |  | 0 | 0 | 99922 | 0 | 99922 |
| North Carolina | North Carolina |  | 0 | 0 | 29832 | 0 | 29832 |
| North Dakota | North Dakota |  | 0 | 0 | 1205 | 0 | 1205 |
| Ohio | Ohio |  | 0 | 0 | 19470 | 0 | 19470 |
| Oklahoma | Oklahoma |  | 0 | 0 | 4126 | 0 | 4126 |
| Oregon | Oregon |  | 0 | 0 | 3091 | 0 | 3091 |
| Pennsylvania | Pennsylvania |  | 0 | 0 | 13876 | 0 | 13876 |
| Puerto Rico | Puerto Rico |  | 0 | 0 | 4750 | 0 | 4750 |
| South Carolina | South Carolina |  | 0 | 0 | 8241 | 0 | 8241 |
| Tennessee | Tennessee |  | 0 | 0 | 9830 | 0 | 9830 |
| Texas | Texas |  | 0 | 0 | 122835 | 0 | 122835 |
| Utah | Utah |  | 0 | 0 | 2785 | 0 | 2785 |
| Virginia | Virginia |  | 0 | 0 | 6420 | 0 | 6420 |
| Washington | Washington |  | 0 | 0 | 13677 | 0 | 13677 |
| West Virginia | West Virginia |  | 0 | 0 | 8045 | 0 | 8045 |
| Wisconsin | Wisconsin |  | 0 | 0 | 7342 | 0 | 7342 |
| U.S. Treasury Obligations | U.S. Treasury Obligations |  | 0 | 0 | 72227 | 0 | 72227 |
| 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 | 2094 | 0 | 2094 |
| Short-Term Notes | Short-Term Notes |  | 0 | 0 | 65071 | 0 | 65071 |
| U.S. Treasury Bills | U.S. Treasury Bills |  | 0 | 0 | 49705 | 0 | 49705 |
| Municipal Bonds & Notes | Municipal Bonds & Notes |  | 0 | 0 | 22307 | 0 | 22307 |

---

------

<br> Schedule of Investments PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Total Investments | $0 | $1043598 | $0 | $1043598 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO Ultra Short Government Active Exchange-Traded Fund March 31, 2026 (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 100.0% ¤** |  |  |
| **SHORT-TERM INSTRUMENTS 100.0%** |  |  |
| **U.S. TREASURY BILLS 100.0%** |  |  |
| 3.705% due 05/07/2026 - 07/30/2026 (a)(b) | $938200 | $928933 |
| Total Short-Term Instruments (Cost $928,959) |  | 928933 |
| Total Investments in Securities (Cost $928,959) |  | 928933 |
| Total Investments 100.0% (Cost $928,959) |  | $928933 |
| Other Assets and Liabilities, net 0.0% |  | 36 |
| Net Assets 100.0% |  | $928969 |

---

------

<br> Schedule of Investments PIMCO Ultra Short Government Active Exchange-Traded Fund (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **(a)** | **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.** |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| U.S. Treasury Bills | U.S. Treasury Bills | $0 | $928933 | $0 | $928933 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

<br> Schedule of Investments PIMCO U.S. Stocks PLUS Active Bond ETF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 99.3% ¤** |  |  |
| **EXCHANGE-TRADED FUNDS 97.8%** |  |  |
| **iShares Core S&P 500 ETF** | 71735 | $46858 |
| Total Exchange-Traded Funds (Cost $49,899) |  | 46858 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **SHORT-TERM INSTRUMENTS 1.5%** |  |  |
| **SHORT-TERM NOTES 0.6%** |  |  |
| **Federal Home Loan Bank Discount Notes** |  |  |
| 3.643% due 09/04/2026 (a)(b) | $100 | 98 |
| 3.670% due 08/21/2026 (a)(b) | 100 | 99 |
| 3.700% due 04/20/2026 (a)(b) | 100 | 100 |
|  |  | 297 |
| **U.S. TREASURY BILLS 0.9%** |  |  |
| 3.690% due 06/30/2026 - 07/21/2026 (a)(c)(f) | 438 | 434 |
| Total Short-Term Instruments (Cost $731) |  | 731 |
| Total Investments in Securities (Cost $50,630) |  | 47589 |
| Total Investments 99.3% (Cost $50,630) |  | $47589 |
| **Financial Derivative Instruments** **(d)(e)** **(0.5)**%(Cost or Premiums, net $0) |  | (254) |
| Other Assets and Liabilities, net 1.2% |  | 577 |
| Net Assets 100.0% |  | $47912 |

---

------

<br> Schedule of Investments PIMCO U.S. Stocks PLUS Active Bond ETF (Cont.) March 31, 2026 (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.** |
| **(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.** | **Zero coupon 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.** | **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)** | **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.** | **Coupon represents a yield to maturity.** |
| **(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 | Asset | Liability |
| S&P 500 E-Mini June Futures | S&P 500 E-Mini June Futures | S&P 500 E-Mini June Futures | S&P 500 E-Mini June Futures | 06/2026 | 06/2026 | 29 | 29 | $953 | 953 | (17) | (17) | $26 | 26 | 26 | 0 |
| **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 | 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 | 03/2028 | 03/2028 | 8 | 8 | $(1932) | (1932) | 0 | 0 | $0 | 0 | 0 | 0 |
| U.S. Treasury 2-Year Note June Futures | U.S. Treasury 2-Year Note June Futures | U.S. Treasury 2-Year Note June Futures | U.S. Treasury 2-Year Note June Futures | 06/2026 | 06/2026 | 58 | 58 | (12032) | (12032) | (2) | (2) | 0 | 0 | 0 | (5) |
| U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | U.S. Treasury 5-Year Note June Futures | 06/2026 | 06/2026 | 46 | 46 | (4976) | (4976) | 20 | 20 | 0 | 0 | 0 | (6) |
| U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | U.S. Treasury 10-Year Ultra Long-Term Bond June Futures | 06/2026 | 06/2026 | 26 | 26 | (2951) | (2951) | 50 | 50 | 0 | 0 | 0 | (8) |
| U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | U.S. Treasury Ultra Long-Term Bond June Futures | 06/2026 | 06/2026 | 6 | 6 | (699) | (699) | 20 | 20 | 0 | 0 | 0 | (1) |
|  |  |  |  |  |  |  |  |  |  | 88 | 88 | 0 | 0 | $ | (20) |
| **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** | **71** | **71** | **26** | **26** | **$** | **(20)** |
| **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** | **Cash of $320 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.** |
| **(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** |
| **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 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** | **TOTAL RETURN SWAPS ON SECURITIES** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Shares | # of Shares | &nbsp;&nbsp; Financing Rate | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Payment<br>Frequency | Notional<br>Amount | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; BNP | &nbsp;&nbsp; BNP | PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 78870 | 78870 | &nbsp;&nbsp; 4.050% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.050% (SOFR plus a specified spread) | Maturity | Maturity | $3958 | 3958 | 0 | (58) | (58) | 0 | $(58) |
|  |  | PIMCO Multisector Bond Active ETF | 149352 | 149352 | &nbsp;&nbsp; 3.920% (SOFR plus a specified spread) | &nbsp;&nbsp; 3.920% (SOFR plus a specified spread) | Maturity | Maturity | 3977 | 3977 | 0 | (75) | (75) | 0 | (75) |
| &nbsp;&nbsp; JPS | &nbsp;&nbsp; JPS | PIMCO Enhanced Low Duration Active Exchange-Traded Fund | 256809 | 256809 | &nbsp;&nbsp; 4.080% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.080% (SOFR plus a specified spread) | Maturity | Maturity | 24636 | 24636 | 0 | (101) | (101) | 0 | (101) |
|  |  | PIMCO Enhanced Short Maturity Active Exchange-Traded Fund | 224437 | 224437 | &nbsp;&nbsp; 4.080% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.080% (SOFR plus a specified spread) | Maturity | Maturity | 22529 | 22529 | 0 | (26) | (26) | 0 | (26) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **$** | **(260)** | **$** | **0** | **(260)** |
| **(f)** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** | **Securities with an aggregate market value of $383 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.** |
| <sup>(1)</sup> | 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. |
| **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 March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | 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 03/31/2026 | Fair Value<br>at 03/31/2026 |  |

---

------

<br> Schedule of Investments PIMCO U.S. Stocks PLUS Active Bond ETF (Cont.) March 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Exchange-Traded Funds | $46858 | $0 | $0 | $46858 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Short-Term Notes | 0 | 297 | 0 | 297 |
| U.S. Treasury Bills | 0 | 434 | 0 | 434 |
| Total Investments | $46858 | $731 | $0 | $47589 |
| **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 | $26 | $0 | $0 | $26 |
| **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 | (20) | 0 | (20) |
| Over the counter | 0 | (260) | 0 | (260) |
|  | $0 | $(280) | $0 | $(280) |
| Total Financial Derivative Instruments | $26 | $(280) | $0 | $(254) |
| Totals | $46884 | $451 | $0 | $47335 |
| **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** | **There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.** |

---

------

Notes to Financial Statements

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

**1. BASIS FOR CONSOLIDATION**

The Commodity Subsidiary, PIMCO Cayman Commodity Fund CMDT, Ltd., a Cayman Islands exempted company, was incorporated on January 19, 2023, as a wholly owned subsidiary acting as an investment vehicle for the PIMCO Commodity Strategy Active Exchange-Traded Fund in order to effect certain investments for the Fund consistent with the Fund's investment objectives and policies as specified in its prospectus and statement of additional information. The Fund's investment portfolio has been consolidated and includes the portfolio holdings of the Fund and the Commodity Subsidiary. The consolidated financial statements include the accounts of the Fund and the Commodity Subsidiary, if any. All inter-company transactions and balances have been eliminated. A subscription agreement was entered into between the Fund and the Commodity Subsidiary, comprising the entire issued share capital of the Commodity Subsidiary, with the intent that the Fund will remain the sole shareholder and retain all rights. Under the Memorandum and Articles of Association, shares issued by the Commodity Subsidiary confer upon a shareholder the right to receive notice of, to attend and to vote at general meetings of the Commodity 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 Commodity Subsidiary. The net assets of the Commodity Subsidiary as of period end represented 23.6% of the Fund's consolidated net assets.

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

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

On each day that the New York Stock Exchange ("NYSE") is open, each Fund's shares are ordinarily valued as of the close of regular trading (normally 4:00 p.m., Eastern time) ("NYSE Close"). Information that becomes known to the Funds or their agents after the time as of which NAV has been calculated on a particular day will not generally be used to retroactively adjust the price of a security or the NAV determined earlier that day. If regular trading on the NYSE closes earlier than scheduled, each Fund may calculate its NAV as of the earlier closing time or calculate its NAV as of the NYSE Close for that day. Each Fund generally does not calculate its NAV on days on which the NYSE is not open for business. If the NYSE is closed on a day it would normally be open for business, each Fund may calculate its NAV as of the NYSE Close for such day or such other time that each Fund may determine.

For purposes of calculating NAV, portfolio securities and other assets for which market quotations are readily available are valued at market value. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that a Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. Market value is generally determined on the basis of official closing prices or the last reported sales prices. The Funds will normally use pricing data for domestic equity securities received shortly after the NYSE Close and do not normally take into account trading, clearances or settlements that take place after the NYSE Close. A foreign (non-U.S.) equity security traded on a foreign exchange or on more than one exchange is typically valued using pricing information from the exchange considered by the Pacific Investment Management Company LLC ("PIMCO" or "Manager") to be the primary exchange. If market value pricing is used, a foreign (non-U.S.) equity security will be valued as of the close of trading on the foreign exchange, or the NYSE Close if the NYSE Close occurs before the end of trading on the foreign exchange.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the "Act"). As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board of Trustees has designated PIMCO as the valuation designee ("Valuation Designee") for each Fund to perform the fair value determination relating to all Fund investments. PIMCO may carry out its designated responsibilities as Valuation Designee through various teams and committees. The Valuation Designee's policies and procedures govern the Valuation Designee's selection and application of methodologies for determining and calculating the fair value of Fund portfolio investments. The Valuation Designee may value Fund portfolio securities for which market quotations are not readily available and other Fund assets utilizing inputs from pricing services, quotation reporting systems, valuation agents and other third-party sources (together, "Pricing Sources").

Domestic and foreign (non-U.S.) fixed income securities, non-exchange traded derivatives and equity options are normally valued on the basis of quotes obtained from brokers and dealers or Pricing Sources using data reflecting the earlier closing of the principal markets for those securities. Prices obtained from Pricing Sources may be based on, among other things, information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Certain fixed income securities purchased on a delayed-delivery basis are marked to market daily until settlement at the forward settlement date. Common stocks, exchange-traded funds ("ETFs"), exchange-traded notes and financial derivative instruments, such as futures contracts, rights and warrants, or options on futures that are traded on a national securities exchange, are stated at the last reported sale or settlement price on the day of valuation. Exchange traded options, except equity options, futures and options on futures, are valued at the settlement price determined by the relevant exchange. Swap agreements and swaptions are valued on the basis of bid quotes obtained from brokers and dealers or market-based prices supplied by Pricing Sources. With respect to any portion of a Fund's assets that are invested in one or more open-end management investment companies (other than ETFs), a Fund's NAV will be calculated based on the NAVs of such investments. Open-end management investment companies may include affiliated funds.

If a foreign (non-U.S.) equity security's value has materially changed after the close of the security's primary exchange or principal market but before the NYSE Close, the security may be valued at fair value. Foreign (non-U.S.) equity securities that do not trade when the NYSE is open are also valued at fair value. With respect to foreign (non-U.S.) equity securities, a Fund may determine the fair value of investments based on information provided by Pricing Sources, which may recommend fair value or adjustments with reference to other securities, indexes or assets. In considering whether fair valuation is required and in determining fair values, the Valuation Designee may, among other things, consider significant events (which may be considered to include changes in the value of U.S. securities or securities indexes) that occur after the close of the relevant market and before the NYSE Close. A Fund may utilize modeling tools provided by third-party vendors to determine fair values of foreign (non-U.S.) securities. For these purposes, unless otherwise determined by the Valuation Designee, any movement in the applicable reference index or instrument ("zero trigger") between the earlier close of the applicable foreign market and the NYSE Close may be deemed to be a significant event, prompting the application of the pricing model (effectively resulting in daily fair valuations). Foreign exchanges may permit trading in foreign (non-U.S.) equity securities on days when the Trust is not open for business, which may result in a Fund's portfolio investments being affected when shareholders are unable to buy or sell shares.

Investments valued in currencies other than the U.S. dollar are converted to the U.S. dollar using exchange rates obtained from Pricing Sources. As a result, the value of such investments and, in turn, the NAV of a Fund's shares may be affected by changes in the value of currencies in relation to the U.S. dollar. The value of investments traded in markets outside the United States or denominated in currencies other than the U.S. dollar may be affected significantly on a day that the Trust is not open for business. As a result, to the extent that a Fund holds foreign (non-U.S.) investments, the value of those investments may change at times when shareholders are unable to buy or sell shares and the value of such investments will be reflected in each Fund's next calculated NAV. An alternative exchange rate may be obtained from a Pricing Source or an exchange rate may otherwise be determined if believed to be more reflective of the rates at which the Portfolio may transact.

------

Notes to Financial Statements(Cont.)

Fair valuation may require subjective determinations about the value of a security. While the Trust's and Valuation Designee's policies and procedures are intended to result in a calculation of a Fund's NAV that fairly reflects security values as of the time of pricing, the Trust cannot ensure that fair values accurately reflect the price that a Fund could obtain for a security if it were to dispose of that security as of the time of pricing (for instance, in a forced or distressed sale). The prices used by a Fund may differ from the value that would be realized if the securities were sold. The Funds' use of fair valuation may also help to deter "stale price arbitrage" as discussed under the "Abusive Trading Practices" section in each Fund's prospectus.

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

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

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

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

Assets or liabilities categorized as Level 2 or 3 as of period end have been transferred between Levels 2 and 3 since the prior period due to changes in the method utilized in valuing the investments. Transfers from Level 2 to Level 3 are a result of a change, in the normal course of business, from the use of methods used by Pricing Sources (Level 2) to the use of a Broker Quote or valuation technique which utilizes significant unobservable inputs due to an absence of current or reliable market-based data (Level 3). Transfers from Level 3 to Level 2 are a result of the availability of current and reliable market-based data provided by Pricing Sources or other valuation techniques which utilize significant observable inputs. In accordance with the requirements of U.S. GAAP, the amounts of transfers into and out of Level 3, if material, are disclosed in the Notes to Schedule of Investments for the 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 ofa Fund'sassets and liabilities. Additionally, U.S. GAAP requires quantitative information regarding the significant unobservable inputs used in the determination of fair value of assets or liabilities categorized as Level 3 in the fair value hierarchy. In accordance with the requirements of U.S. GAAP, a fair value hierarchy and, if material, a Level 3 reconciliation and details of significant unobservable inputs, have been included in the Notes to Schedule of Investments for each respective Fund.

**(c) Valuation Techniques and the Fair Value Hierarchy**

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

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

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

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

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

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

Valuation adjustments may be applied to certain securities that are solely traded on a foreign exchange to account for the market movement between the close of the foreign market and the NYSE Close. These securities are valued using Pricing Sources that consider the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments. Securities using these valuation adjustments are categorized as Level 2 of the fair value hierarchy. Preferred securities and other equities traded on inactive markets or valued by reference to similar instruments are also categorized as Level 2 of the fair value hierarchy.

------

Notes to Financial Statements(Cont.)

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

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

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

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

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

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

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

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

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

**3. FEDERAL INCOME TAX MATTERS**

Each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (the "Code") and distribute all of its income and net realized gains, if applicable, to shareholders. Accordingly, no provision for Federal income taxes has been made.

A Fund may be subject to local withholding taxes, including those imposed on realized capital gains. Any applicable foreign capital gains tax is accrued daily based upon net unrealized gains, and may be payable following the sale of any applicable investments.

In accordance with U.S. GAAP, the Manager has reviewed the Funds' tax positions for all open tax years. As of March 31, 2026, the Funds have recorded no liability for net unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in future tax returns.

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

**4. INVESTMENTS IN AFFILIATES**

Each Fund eligible to participate in securities lending may invest the cash collateral received for securities out on loan in the PIMCO Government Money Market Fund and PIMCO Active Bond Exchange-Traded Fund under the Securities Lending Agreement. PIMCO Government Money Market Fund and PIMCO Active Bond Exchange-Traded Fund considered to be affiliated with the Funds. A copy of each affiliate fund's shareholder report is available at the U.S. Securities and Exchange Commission ("SEC") website at www.sec.gov, on the Funds' website at www.pimco.com, or upon request, as applicable. The table below shows the Funds' transactions in and earnings from investments in the affiliated fund for the period ended March 31, 2026 (amounts in thousands<sup>†</sup>):

**Investments in PIMCO Government Money Market Fund**

------

Notes to Financial Statements(Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Fund Name** | **Market Value<br>06/30/2025** | **Purchases**<br> **at Cost** | **Proceeds<br>from Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>03/31/2026** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | $54359 | $185939 | $(208327) | $0 | $0 | $31971 | $3420 | $0 |
| PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund | 5656 | 38499 | (39249) | 0 | 0 | 4906 | 164 | 0 |
| PIMCO Enhanced Short Maturity Active Exchange-Traded Fund | 516 | 17246 | (17762) | 0 | 0 | 0 | 37 | 0 |

---

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

<sup>(1)</sup> The tax characterization of distributions is determined in accordance with Federal income tax regulations and may contain a return of capital. The actual tax characterization of distributions received is determined at the end of the fiscal year of the affiliated fund.

The tables below show the Funds' transactions in and earnings from investments in the affiliated fund for the period ended March 31, 2026 (amounts in thousands<sup>†</sup>):

**PIMCO Active Bond Exchange-Traded Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Fund** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>03/31/2026** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | $55389 | $0 | $(55034) | $373 | $(728) | $0 | $286 | $0 |
| PIMCO Preferred and Capital Securities Active Exchange-Traded Fund | 43005 | 0 | (22075) | 386 | (377) | 20939 | 1203 | 0 |
| PIMCO Senior Loan Active Exchange-Traded Fund | 75912 | 0 | (59670) | 419 | (1152) | 15509 | 1598 | 0 |
| PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 99585 | 169283 | 0 | 0 | 1177 | 270045 | 6807 | 0 |

---

**PIMCO Commodity Strategy Active Exchange-Traded Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Fund** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>03/31/2026** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Enhanced Short Maturity Active Exchange-Traded Fund | $7113 | $48578 | $(11436) | $(16) | $23 | $44262 | $533 | $0 |

---

**PIMCO Multisector Bond Active Exchange-Traded Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Fund** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>03/31/2026** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Senior Loan Active Exchange-Traded Fund | $18981 | $0 | $(18304) | $(698) | $21 | $0 | $1225 | $0 |

---

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

<sup>(1)</sup> The tax characterization of distributions is determined in accordance with Federal income tax regulations and may contain a return of capital. The actual tax characterization of distributions received is determined at the end of the fiscal year of the affiliated fund.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** |  | (Unaudited) |
| **Counterparty Abbreviations:** | **Counterparty Abbreviations:** |  |  |  |  |
| **AZD** | Australia and New Zealand Banking Group | **FAR** | Wells Fargo Bank National Association | **MYC** | Morgan Stanley Bank, N.A. |
| **BOA** | Bank of America N.A. | **FICC STR** | Fixed Income Clearing Corp. - State Street FICC <br> Repo | **MYI** | Morgan Stanley & Co. International PLC |
| **BOM** | Bank of Montreal | **GLM** | Goldman Sachs Bank USA | **NGF** | Nomura Global Financial Products, Inc. |
| **BOS** | BofA Securities, Inc. | **GSC** | Goldman Sachs & Co. LLC | **RBC** | Royal Bank of Canada |
| **BPS** | BNP Paribas S.A. | **GST** | Goldman Sachs International | **SAL** | Citigroup Global Markets, Inc. |
| **BRC** | Barclays Bank PLC | **IND** | Crédit Agricole Corporate and Investment Bank <br> S.A. | **SCX** | Standard Chartered Bank, London |
| **BSH** | Banco Santander S.A. - New York Branch | **JPM** | JP Morgan Chase Bank N.A. | **SOG** | Societe Generale Paris |
| **BSN** | The Bank of Nova Scotia - Toronto | **JPS** | J.P. Morgan Securities LLC | **SSB** | State Street Bank and Trust Co. |
| **CBK** | Citibank N.A. | **MBC** | HSBC Bank Plc | **UAG** | UBS AG Stamford |
| **CTR** | Citigroup Global Markets, Inc.- FICC Rep | **MEI** | Merrill Lynch International | **WAN** | Wells Fargo Bank, N.A.- FICC Rep |
| **DEU** | Deutsche Bank Securities, Inc. | **MSC** | Morgan Stanley & Co. LLC. | **WFS** | Wells Fargo Securities, LLC |
| **DUB** | Deutsche Bank AG |  |  |  |  |
| **Currency Abbreviations:** | **Currency Abbreviations:** |  |  |  |  |
| **AUD** | Australian Dollar | **IDR** | Indonesian Rupiah | **PEN** | Peruvian New Sol |
| **BRL** | Brazilian Real | **ILS** | Israeli Shekel | **PLN** | Polish Zloty |
| **CAD** | Canadian Dollar | **INR** | Indian Rupee | **SEK** | Swedish Krona |
| **CHF** | Swiss Franc | **JPY** | Japanese Yen | **SGD** | Singapore Dollar |
| **CNH** | Chinese Renminbi (Offshore) | **KRW** | South Korean Won | **THB** | Thai Baht |
| **COP** | Colombian Peso | **KWD** | Kuwaiti Dinar | **TRY** | Turkish New Lira |
| **CZK** | Czech Koruna | **KZT** | Kazakhstani Tenge | **TWD** | Taiwanese Dollar |
| **EGP** | Egyptian Pound | **MXN** | Mexican Peso | **USD (or $)** | United States Dollar |
| **EUR** | Euro | **NGN** | Nigerian Naira | **UZS** | Uzbekistani Sum |
| **GBP** | British Pound | **NOK** | Norwegian Krone | **ZAR** | South African Rand |
| **HUF** | Hungarian Forint | **NZD** | New Zealand Dollar |  |  |
| **Exchange Abbreviations:** | **Exchange Abbreviations:** |  |  |  |  |
| **CBOT** | Chicago Board of Trade | **LME** | London Metal Exchange | **OTC** | Over the Counter |
| **ICE** | IntercontinentalExchange® | **NYMEX** | New York Mercantile Exchange |  |  |
| **Index/Spread Abbreviations:** | **Index/Spread Abbreviations:** |  |  |  |  |
| **BBSW3M** | 3 Month Bank Bill Swap Rate | **EUR003M** | 3 Month EUR Swap Rate | **MUNIPSA** | Securities Industry and Financial Markets Association (SIFMA) Municipal Swap Index |
| **BISTREFI** | Turkish Lira Overnight Reference Rate | **EUR006M** | 6 Month EUR Swap Rate | **S&P 500** | Standard & Poor's 500 Index |
| **BNMMDTSC** | Dreyfus Treasury Securites Cash Management Fund Yield | **FHMMUSTF** | Federated Hermes US Treasury Cash Reserves <br> Fund Yield | **SOFR** | Secured Overnight Financing Rate |
| **Bobl** | Bundesobligation, the German word for federal government bond | **GSMMUSTF** | Goldman Sachs Money Market US Treasury Fund <br> Index | **SOFR30A** | Secured Overnight Financing Rate 30-Day Average |
| **Brent** | Brent Crude | **GSMMUSTI** | Goldman Sachs Money Market US Treasury <br> Instrument Index | **SOFRINDX** | Secured Overnight Financing Rate Index |
| **BRMMUSDF** | BlackRock Money Market US Treasury Fund Index | **H15T5Y** | 5 Year US Treasury Yield Curve Constant Maturity <br> Rate | **SONIA** | Sterling Overnight Interbank Average Rate |
| **CAONINDX** | Bloomberg CORRA Compounded Index | **HSMMUSTF** | HSBC UST Money Market Yield | **SONIO** | Sterling Overnight Interbank Average Rate |
| **CAONREPO** | Canadian Overnight Repo Rate Average | **IBXXLLTR** | iBoxx USD Liquid Leveraged Loan Index | **TSFR1M** | Term SOFR 1-Month |
| **CDX.EM** | Credit Derivatives Index - Emerging <br> Markets | **JMMMUSTF** | JP Morgan Money Market US Treasury Fund Index | **TSFR3M** | Term SOFR 3-Month |
| **CDX.HY** | Credit Derivatives Index - High Yield | **JY0003M** | 3 Month JPY-LIBOR | **TSFR6M** | Term SOFR 6-Month |
| **CDX.IG** | Credit Derivatives Index - Investment Grade | **MSMMUSTF** | MSILF Money Market US Treasury Fund Index | **US0003M** | ICE 3-Month USD LIBOR |
| **Municipal Bond or Agency Abbreviations:** | **Municipal Bond or Agency Abbreviations:** |  |  |  |  |
| **ACA** | American Capital Access Holding Ltd. | **CNTY** | County Guaranteed | **FNMA** | Federal National Mortgage Association |
| **AGC** | Assured Guaranty Corp. | **CR** | Custodial Receipts | **GNMA** | Government National Mortgage Association |
| **AGM** | Assured Guaranty Municipal | **FGIC** | Financial Guaranty Insurance Co. | **HUD** | U.S. Department of Housing and Urban Development |
| **AMBAC** | American Municipal Bond Assurance Corp. | **FHA** | Federal Housing Administration | **NPFGC** | National Public Finance Guarantee Corp. |
| **BAM** | Build America Mutual Assurance | **FHLMC** | Federal Home Loan Mortgage Corp. | **PSF** | Public School Fund |
| **BHAC** | Berkshire Hathaway Assurance Corporation |  |  |  |  |
| **Other Abbreviations:** | **Other Abbreviations:** |  |  |  |  |
| **ABS** | Asset-Backed Security | **DAC** | Designated Activity Company | **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 | **Oat** | Obligations Assimilables du Trésor | **TBA** | To-Be-Announced |
| **BRL-CDI** | Brazil Interbank Deposit Rate | **OIS** | Overnight Index Swap | **TBD** | To-Be-Determined |
| **CLO** | Collateralized Loan Obligation | **oz.** | Ounce | **TBD%** | Interest rate to be determined when loan <br> settles or at the time of funding |
| **CMBS** | Collateralized Mortgage-Backed Security | **PIK** | Payment-in-Kind | **WTI** | West Texas Intermediate |

---

## 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 ETF Trust

- **b. Investment Company Act file number:** 811-22250

- **c. CIK number of Registrant:** 0001450011

- **d. LEI of Registrant:** 5493004M9TBGFQUJ6D27

- **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) 400-4383

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

- **a. Name of Series:** PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund

- **b. EDGAR series identifier (if any):** S000026750

- **c. LEI of Series:** 6LH9877XNH3K5SHPAI89

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

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

- **b. Date as of which information is reported:** 2026-03-31

**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:** $1402730042.97

**Total Liabilities:** $177215.37

**Net Assets:** $1402552827.60

**Cash Not Reported:** $1236814.08

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000080240 | -0.53%               | 7.17%                | -6.15%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-27115969.55            | $13098173.40                               |
| Month 2  | $-1628316.56             | $100006432.08                              |
| Month 3  | $-4058778.35             | $-94564684.32                              |

**Designated Index Information**

- **Index Name:** ICE BofA Long US Treasury Principal STRIPS Index

- **Index Identifier:** STPL4PM

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UNITED STATES GOVT | STRIP PRINC 08/53 0.00000 | CUSIP: 912803GU1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 279473000 | PA      | $71391159.86  | 5.09%             | 2053-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 02/54 0.00000 | CUSIP: 912803GY3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 206087000 | PA      | $51516424.71  | 3.67%             | 2054-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 11/52 0.00000 | CUSIP: 912803GM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 308107000 | PA      | $81361840.14  | 5.80%             | 2052-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 11/53 0.00000 | CUSIP: 912803GW7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 287341000 | PA      | $72817111.44  | 5.19%             | 2053-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 08/55 0.00000 | CUSIP: 912803HN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 276835000 | PA      | $65180194.48  | 4.65%             | 2055-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 08/51 0.00000 | CUSIP: 912803GA5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 254424000 | PA      | $70969610.65  | 5.06%             | 2051-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 05/54 0.00000 | CUSIP: 912803HB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 175612000 | PA      | $43537535.62  | 3.10%             | 2054-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 11/51 0.00000 | CUSIP: 912803GC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 265737000 | PA      | $73326739.66  | 5.23%             | 2051-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 05/51 0.00000 | CUSIP: 912803FY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 265809000 | PA      | $74955129.04  | 5.34%             | 2051-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 02/52 0.00000 | CUSIP: 912803GE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 281950000 | PA      | $76846380.38  | 5.48%             | 2052-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 02/53 0.00000 | CUSIP: 912803GP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 316792000 | PA      | $82640223.86  | 5.89%             | 2053-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 11/54 0.00000 | CUSIP: 912803HF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 279644000 | PA      | $67738409.41  | 4.83%             | 2054-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 08/52 0.00000 | CUSIP: 912803GK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 309475000 | PA      | $82491328.75  | 5.88%             | 2052-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 08/54 0.00000 | CUSIP: 912803HD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 262293000 | PA      | $64177392.23  | 4.58%             | 2054-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 11/55 0.00000 | CUSIP: 912803HQ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 235657000 | PA      | $54966490.94  | 3.92%             | 2055-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 02/51 0.00000 | CUSIP: 912803FV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 283587000 | PA      | $80946698.95  | 5.77%             | 2051-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 05/55 0.00000 | CUSIP: 912803HL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 272983000 | PA      | $64868961.21  | 4.63%             | 2055-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 05/53 0.00000 | CUSIP: 912803GS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 276251000 | PA      | $71262998.05  | 5.08%             | 2053-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 05/52 0.00000 | CUSIP: 912803GH0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 277619000 | PA      | $74869027.61  | 5.34%             | 2052-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT | STRIP PRINC 02/55 0.00000 | CUSIP: 912803HH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 315409000 | PA      | $75625638.01  | 5.39%             | 2055-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-26

**Name of Applicant:** PIMCO ETF Trust

**Signature:** /s/ Bijal Parikh

**Name of Signer:** Bijal Parikh

**Title:** Treasurer