AllianzGI Managed Accounts Trust NPORT-P/A Fixed Income SHares: Series M (Sep 2021 report)

Schedule of Investments PIMCO Fixed Income SHares: Series C September 30, 2021 (Unaudited)

(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)
		PRINCIPAL AMOUNT (000s)		MARKET VALUE (000s)
INVESTMENTS IN SECURITIES 145.1% ¤
LOAN PARTICIPATIONS AND ASSIGNMENTS 1.0%
AAdvantage Loyalty IP Ltd. 5.500% (LIBOR03M + 4.750%) due 04/20/2028 ~	$	2,000	$	2,071
Bally's Corp. TBD% due 08/06/2028		6,000		6,007
United Airlines, Inc. 4.500% (LIBOR03M + 3.750%) due 04/21/2028 ~		3,491		3,523
Zephyrus Capital Aviation Partners LLC 4.605% due 10/15/2038		4,649		4,537
Total Loan Participations and Assignments (Cost $16,017)				16,138
CORPORATE BONDS & NOTES 45.7%
BANKING & FINANCE 28.7%
American Assets Trust LP 3.375% due 02/01/2031		4,000		4,149
American Express Co. 3.550% due 09/15/2026 •(b)		3,600		3,674
Ares Finance Co. LLC 3.250% due 06/15/2030		4,950		5,175
Aviation Capital Group LLC 3.500% due 11/01/2027		1,300		1,372
Avolon Holdings Funding Ltd. 2.528% due 11/18/2027		6,141		6,045
Banco Bilbao Vizcaya Argentaria S.A. 5.875% due 09/24/2023 •(b)(c)	EUR	800		994
Bank of America Corp. 3.419% due 12/20/2028 •	$	25,728		27,903
Barclays Bank PLC 7.625% due 11/21/2022 (c)		2,952		3,165
Barclays PLC
3.375% due 04/02/2025 •	EUR	2,300		2,884
7.250% due 03/15/2023 •(b)(c)	GBP	800		1,150
7.750% due 09/15/2023 •(b)(c)	$	400		437
7.875% due 03/15/2022 •(b)(c)		800		820
7.875% due 09/15/2022 •(b)(c)	GBP	2,000		2,849
BNP Paribas S.A.
1.904% due 09/30/2028 •	$	8,000		7,968
4.400% due 08/14/2028		14,700		16,771
4.500% due 02/25/2030 •(b)(c)		900		902
4.625% due 02/25/2031 •(b)(c)		1,900		1,945
BPCE S.A. 5.150% due 07/21/2024		1,000		1,105
Brookfield Finance, Inc. 3.500% due 03/30/2051		7,100		7,429
Carlyle Finance Subsidiary LLC 3.500% due 09/19/2029		4,000		4,306
CI Financial Corp. 3.200% due 12/17/2030		3,200		3,324
Cooperatieve Rabobank UA 4.375% due 08/04/2025		6,300		6,987
Credit Agricole S.A. 7.500% due 06/23/2026 •(b)(c)	GBP	100		158
Credit Suisse AG 6.500% due 08/08/2023 (c)	$	7,466		8,188
Credit Suisse Group AG 7.500% due 07/17/2023 •(b)(c)		10,000		10,717
Crown Castle International Corp. 4.300% due 02/15/2029		3,000		3,408
CyrusOne LP 1.450% due 01/22/2027	EUR	350		408
Deutsche Bank AG
1.000% due 11/19/2025 •		5,600		6,630
2.129% due 11/24/2026 •(d)	$	1,400		1,423
2.625% due 12/16/2024	GBP	2,600		3,631
3.729% due 01/14/2032 •(d)	$	1,200		1,240
3.875% due 02/12/2024	GBP	800		1,142
3.961% due 11/26/2025 •	$	9,000		9,738
4.250% due 10/14/2021		9,575		9,585
5.625% due 05/19/2031 •	EUR	200		275
Discover Financial Services 4.500% due 01/30/2026	$	7,000		7,846

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

Doric Nimrod Air Finance Alpha Ltd. Pass-Through Trust 5.125% due 11/30/2024		2,387	2,382
Erste Group Bank AG 8.875% due 10/15/2021 •(b)(c)	EUR	200	232
Fairfax Financial Holdings Ltd. 4.230% due 06/14/2029	CAD	300	255
First American Financial Corp. 4.000% due 05/15/2030	$	3,850	4,265
FleetBoston Financial Corp. 6.875% due 01/15/2028		2,120	2,691
Ford Motor Credit Co. LLC
2.748% due 06/14/2024	GBP	4,900	6,681
3.096% due 05/04/2023	$	1,000	1,017
3.550% due 10/07/2022		5,000	5,103
3.810% due 01/09/2024		2,000	2,067
4.375% due 08/06/2023		7,000	7,298
5.584% due 03/18/2024		400	430
Global Atlantic Fin Co. 3.125% due 06/15/2031		1,200	1,214
GLP Capital LP
4.000% due 01/15/2030		2,278	2,449
5.250% due 06/01/2025		2,450	2,735
5.300% due 01/15/2029		3,150	3,687
Goldman Sachs Group, Inc. 3.850% due 01/26/2027		25,000	27,484
Golub Capital BDC, Inc. 2.050% due 02/15/2027		4,000	3,939
Goodman U.S. Finance Three LLC 3.700% due 03/15/2028		3,200	3,468
HSBC Holdings PLC
4.583% due 06/19/2029 •		4,000	4,544
5.875% due 09/28/2026 •(b)(c)	GBP	11,800	17,467
6.000% due 09/29/2023 •(b)(c)	EUR	200	250
6.375% due 09/17/2024 •(b)(c)	$	1,200	1,299
6.500% due 03/23/2028 •(b)(c)		200	226
ING Groep NV 4.625% due 01/06/2026		5,000	5,677
Intesa Sanpaolo SpA 3.375% due 01/12/2023		10,400	10,759
KKR Financial Holdings LLC 5.400% due 05/23/2033		9,000	9,515
Liberty Mutual Group, Inc. 4.300% due 02/01/2061		2,000	1,904
Lloyds Banking Group PLC 7.500% due 09/27/2025 •(b)(c)		7,100	8,240
Massachusetts Mutual Life Insurance Co. 5.077% due 02/15/2069 •		4,500	5,572
Morgan Stanley
3.591% due 07/22/2028 •		12,000	13,170
4.000% due 07/23/2025		6,900	7,605
7.500% due 04/02/2032 þ(d)		7,000	5,690
MPT Operating Partnership LP 3.692% due 06/05/2028	GBP	1,600	2,301
New York Life Insurance Co. 4.450% due 05/15/2069	$	7,000	8,781
Nissan Motor Acceptance Co. LLC
2.600% due 09/28/2022		1,900	1,935
2.750% due 03/09/2028		3,000	3,035
3.875% due 09/21/2023		1,600	1,689
Nordea Bank Abp
3.750% due 03/01/2029 •(b)(c)		5,850	5,770
6.625% due 03/26/2026 •(b)(c)		5,000	5,751
OneMain Finance Corp. 6.125% due 05/15/2022		7,700	7,912
Park Aerospace Holdings Ltd. 5.500% due 02/15/2024		2,152	2,349
Piper Jaffray Cos. 4.740% due 10/15/2021		4,000	4,035
PNC Financial Services Group, Inc. 3.400% due 09/15/2026 •(b)		5,000	5,000
Sammons Financial Group, Inc. 3.350% due 04/16/2031		3,000	3,120
Santander UK Group Holdings PLC 7.375% due 06/24/2022 •(b)(c)	GBP	600	838
Sitka Holdings LLC 5.250% due 07/06/2026 •	$	2,400	2,436
Societe Generale S.A. 5.375% due 11/18/2030 •(b)(c)		5,400	5,795
Standard Chartered PLC 7.500% due 04/02/2022 •(b)(c)		400	412
Synchrony Financial 3.950% due 12/01/2027		1,100	1,214
Teachers Insurance & Annuity Association of America 3.300% due 05/15/2050		6,500	6,844
Tesco Property Finance PLC
5.411% due 07/13/2044	GBP	373	644

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

5.744% due 04/13/2040		1,039	1,836
5.801% due 10/13/2040		6,800	12,015
UBS AG 7.625% due 08/17/2022 (c)	$	4,800	5,086
UBS Group AG
4.375% due 02/10/2031 •(b)(c)		600	608
5.750% due 02/19/2022 •(b)(c)	EUR	2,500	2,945
UniCredit SpA 9.250% due 06/03/2022 •(b)(c)		800	976
Wells Fargo & Co.
2.879% due 10/30/2030 •	$	10,000	10,449
4.150% due 01/24/2029		5,400	6,141
			454,975
INDUSTRIALS 14.5%
Air Canada Pass-Through Trust
3.750% due 06/15/2029		2,277	2,380
5.000% due 06/15/2025		3,707	3,761
Alaska Airlines Pass-Through Trust 4.800% due 02/15/2029		3,133	3,497
American Airlines Pass-Through Trust
3.200% due 12/15/2029		1,731	1,747
3.375% due 11/01/2028		6,017	6,098
3.575% due 07/15/2029		2,057	2,104
3.650% due 08/15/2030		2,734	2,831
3.700% due 04/01/2028		2,701	2,758
American Airlines, Inc.
5.500% due 04/20/2026		2,500	2,631
5.750% due 04/20/2029		1,000	1,079
Ashtead Capital, Inc. 4.250% due 11/01/2029		1,600	1,758
Bacardi Ltd. 4.450% due 05/15/2025		6,300	6,946
Bayer U.S. Finance LLC 4.375% due 12/15/2028		6,900	7,818
British Airways Pass-Through Trust 3.300% due 06/15/2034		2,859	2,908
Charter Communications Operating LLC
4.908% due 07/23/2025		762	857
5.125% due 07/01/2049		2,000	2,357
Citrix Systems, Inc. 3.300% due 03/01/2030		2,350	2,402
Continental Airlines Pass-Through Trust
4.000% due 04/29/2026		1,501	1,584
4.150% due 10/11/2025		1,031	1,090
DAE Funding LLC
1.625% due 02/15/2024		4,200	4,179
2.625% due 03/20/2025		1,000	1,021
5.250% due 11/15/2021		6,300	6,306
Dell International LLC
4.900% due 10/01/2026		1,000	1,153
5.300% due 10/01/2029		1,000	1,210
5.850% due 07/15/2025		1,300	1,513
6.020% due 06/15/2026		3,700	4,404
6.200% due 07/15/2030		2,000	2,561
Ecopetrol S.A. 5.875% due 09/18/2023		3,400	3,666
Energy Transfer LP
3.750% due 05/15/2030		450	487
4.050% due 03/15/2025		500	540
5.250% due 04/15/2029		11,400	13,372
EQM Midstream Partners LP 4.125% due 12/01/2026		800	823
Expedia Group, Inc. 6.250% due 05/01/2025		1,318	1,520
Ferguson Finance PLC 3.250% due 06/02/2030		2,500	2,674
Huntsman International LLC 4.500% due 05/01/2029		1,700	1,928
Hyatt Hotels Corp.
1.800% due 10/01/2024 (a)		3,700	3,708
3.120% (US0003M + 3.000%) due 09/01/2022 ~		6,000	6,007
Imperial Brands Finance PLC 3.875% due 07/26/2029		4,000	4,307
Kansas City Southern 4.200% due 11/15/2069		4,600	5,360
Las Vegas Sands Corp.
3.200% due 08/08/2024		2,600	2,670
3.500% due 08/18/2026		5,050	5,161
Lundin Energy Finance BV 2.000% due 07/15/2026		1,300	1,308
Magellan Health, Inc. 4.900% due 09/22/2024		8,500	9,350
Marvell Technology, Inc. 4.875% due 06/22/2028		5,500	6,358

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

Mileage Plus Holdings LLC 6.500% due 06/20/2027		2,000	2,177
Nissan Motor Co. Ltd.
3.522% due 09/17/2025		2,000	2,127
4.345% due 09/17/2027		2,900	3,188
4.810% due 09/17/2030		700	788
Northwest Airlines Pass-Through Trust 7.041% due 10/01/2023		337	345
Ooredoo International Finance Ltd. 5.000% due 10/19/2025		4,500	5,152
Rolls-Royce PLC
3.625% due 10/14/2025		200	203
4.625% due 02/16/2026	EUR	300	386
5.750% due 10/15/2027	GBP	1,100	1,651
Sands China Ltd.
2.300% due 03/08/2027	$	2,700	2,614
2.850% due 03/08/2029		5,200	5,011
3.250% due 08/08/2031		4,700	4,545
Studio City Finance Ltd. 5.000% due 01/15/2029		800	739
Syngenta Finance NV 4.441% due 04/24/2023		2,500	2,614
T-Mobile USA, Inc. 2.625% due 04/15/2026		2,200	2,252
Tennessee Gas Pipeline Co. LLC 2.900% due 03/01/2030		3,800	3,932
Trustees of the University of Pennsylvania 3.610% due 02/15/2119		6,500	7,333
U.S. Airways Pass-Through Trust 3.950% due 05/15/2027		600	612
United Airlines Pass-Through Trust
2.700% due 11/01/2033		4,806	4,877
2.875% due 04/07/2030		1,711	1,738
3.450% due 01/07/2030		1,775	1,793
4.000% due 10/11/2027		1,172	1,239
5.875% due 04/15/2029		11,222	12,581
United Airlines, Inc. 4.625% due 04/15/2029		100	103
Vmed O2 UK Financing PLC 4.750% due 07/15/2031		6,000	6,138
Volkswagen Group of America Finance LLC 3.750% due 05/13/2030		1,300	1,439
Weir Group PLC 2.200% due 05/13/2026		3,400	3,435
Westinghouse Air Brake Technologies Corp. 4.950% due 09/15/2028		1,400	1,612
Wynn Macau Ltd.
5.125% due 12/15/2029		200	188
5.625% due 08/26/2028		200	191
			229,195
UTILITIES 2.5%
AT&T, Inc. 3.650% due 06/01/2051		10,000	10,211
Cleveland Electric Illuminating Co. 4.550% due 11/15/2030		2,500	2,920
Jersey Central Power & Light Co. 4.700% due 04/01/2024		785	847
ONEOK, Inc. 2.750% due 09/01/2024		2,000	2,097
Pacific Gas & Electric Co.
3.300% due 12/01/2027 ^		2,800	2,884
3.500% due 06/15/2025 ^		1,200	1,252
3.750% due 07/01/2028		1,800	1,885
3.950% due 12/01/2047 ^		2,400	2,314
4.300% due 03/15/2045 ^		700	692
4.500% due 07/01/2040		1,800	1,840
4.550% due 07/01/2030		3,400	3,679
S.A. Global Sukuk Ltd. 2.694% due 06/17/2031		3,500	3,536
Toledo Edison Co. 2.650% due 05/01/2028		5,500	5,603
			39,760
Total Corporate Bonds & Notes (Cost $683,148)			723,930
MUNICIPAL BONDS & NOTES 2.7%
CALIFORNIA 0.3%
University of California Revenue Bonds, Series 2012 4.858% due 05/15/2112		2,995	4,218

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

ILLINOIS 0.1%
Chicago, Illinois General Obligation Bonds, Series 2008 5.630% due 01/01/2022	50	51
Chicago, Illinois General Obligation Bonds, Series 2015 7.750% due 01/01/2042	114	129
Illinois State General Obligation Bonds, (BABs), Series 2010 7.350% due 07/01/2035	1,095	1,391
		1,571
NEW JERSEY 0.4%
Rutgers The State University of New Jersey Revenue Bonds, Series 2019 3.915% due 05/01/2119	5,000	5,649
NEW YORK 0.8%
Port Authority of New York & New Jersey Revenue Bonds, Series 2019 3.287% due 08/01/2069	11,700	12,749
TEXAS 0.2%
Texas Public Finance Authority Revenue Notes, Series 2014 8.250% due 07/01/2024	2,735	2,759
VIRGINIA 0.3%
University of Virginia Revenue Bonds, Series 2019 3.227% due 09/01/2119	5,500	5,543
WEST VIRGINIA 0.6%
Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 4.875% due 06/01/2049	9,000	9,354
Total Municipal Bonds & Notes (Cost $38,925)		41,843
U.S. GOVERNMENT AGENCIES 17.8%
Freddie Mac 6.500% due 01/01/2038 - 10/01/2038	29	32
Ginnie Mae, TBA 2.500% due 11/01/2051	77,400	79,767
Uniform Mortgage-Backed Security
4.000% due 09/01/2048	3,702	3,971
4.500% due 08/01/2039 - 11/01/2041	129	144
Uniform Mortgage-Backed Security, TBA
2.000% due 12/01/2036 - 12/01/2051	192,200	193,115
4.000% due 10/01/2051	4,800	5,143
Total U.S. Government Agencies (Cost $282,336)		282,172
U.S. TREASURY OBLIGATIONS 34.5%
U.S. Treasury Bonds
1.375% due 11/15/2040	22,700	20,398
1.625% due 11/15/2050 (f)	48,400	43,498
1.750% due 08/15/2041 (f)	100,000	95,625
2.375% due 11/15/2049 (f)	20,000	21,293
U.S. Treasury Notes
0.625% due 12/31/2027 (f)	50,000	48,250
0.625% due 05/15/2030 (f)	72,600	67,780
0.750% due 01/31/2028 (f)(h)	160,700	156,086
0.875% due 11/15/2030 (f)(h)	5,000	4,746
1.250% due 04/30/2028 (f)(h)	56,900	56,874
1.500% due 02/15/2030 (f)(h)	30,800	31,004
Total U.S. Treasury Obligations (Cost $563,210)		545,554
NON-AGENCY MORTGAGE-BACKED SECURITIES 7.9%
Banc of America Funding Trust 3.411% due 01/20/2047 ^~	30	29
Bear Stearns Adjustable Rate Mortgage Trust
2.366% due 10/25/2033 ~	10	11
2.666% due 05/25/2034 ~	21	20
Bear Stearns ALT-A Trust 2.963% due 02/25/2036 ^~	388	327
Cascade Funding Mortgage Trust 4.000% due 10/25/2068 ~	1,690	1,758
Citigroup Mortgage Loan Trust 3.258% due 04/25/2066 ~	6,810	6,868
Citigroup Mortgage Loan Trust, Inc.
2.210% due 09/25/2035 •	33	34
2.220% due 09/25/2035 •	49	52
Countrywide Alternative Loan Trust
0.486% due 05/25/2036 •	34	32
6.000% due 08/25/2034	4,096	4,271

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

Countrywide Home Loan Mortgage Pass-Through Trust
0.726% due 03/25/2035 •		62	56
2.887% due 08/25/2034 ^~		2	2
Credit Suisse First Boston Mortgage-Backed Pass-Through Certificates 2.148% due 07/25/2033 ~		1	1
Credit Suisse Mortgage Capital Trust
1.926% due 06/27/2061 «		6,800	6,803
2.691% due 03/25/2060 ~		7,467	7,561
2.961% due 10/27/2059 ~		7,482	7,541
Downey Savings & Loan Association Mortgage Loan Trust
0.607% due 08/19/2045 •		378	369
2.501% due 07/19/2044 ~		283	281
Eurosail PLC 1.017% due 06/13/2045 •	GBP	1,417	1,910
Finsbury Square PLC 0.850% due 03/16/2070 •		6,958	9,407
GreenPoint Mortgage Funding Trust 0.546% due 06/25/2045 •	$	946	825
GreenPoint Mortgage Funding Trust Pass-Through Certificates 2.477% due 10/25/2033 ~		1	1
GSR Mortgage Loan Trust
1.840% due 03/25/2033 •		11	11
2.746% due 09/25/2035 ~		78	79
2.859% due 09/25/2035 ~		69	71
HarborView Mortgage Loan Trust
0.277% due 01/19/2038 •		96	94
0.767% due 06/20/2035 •		160	159
Hawksmoor Mortgage Funding PLC 1.100% due 05/25/2053 •	GBP	1,205	1,630
HomeBanc Mortgage Trust 0.606% due 01/25/2036 •	$	391	388
JP Morgan Mortgage Trust
1.905% due 11/25/2033 ~		12	12
2.285% due 02/25/2035 ~		7	7
2.299% due 07/25/2035 ~		71	74
2.504% due 07/25/2035 ~		151	156
Legacy Mortgage Asset Trust 1.892% due 10/25/2066 þ		3,162	3,171
MFA Trust
1.381% due 04/25/2065 ~		3,334	3,346
1.947% due 04/25/2065 ~		3,389	3,416
Morgan Stanley Capital Trust 2.509% due 04/05/2042 ~		5,000	5,123
Morgan Stanley Mortgage Loan Trust 2.540% due 08/25/2034 ~		570	592
Natixis Commercial Mortgage Securities Trust 1.046% due 08/15/2038 •(a)		1,200	1,200
New Residential Mortgage Loan Trust 3.578% due 08/25/2025 ~		1,079	1,099
New York Mortgage Trust 1.670% due 08/25/2061 þ		6,576	6,573
Pretium Mortgage Credit Partners LLC 1.992% due 02/25/2061 þ		3,787	3,785
RBSSP Resecuritization Trust 0.589% due 04/26/2037 •		247	247
Residential Accredit Loans, Inc. Trust 0.506% due 04/25/2046 •		747	287
Residential Mortgage Securities PLC 1.300% due 06/20/2070 •	GBP	8,670	11,803
Structured Adjustable Rate Mortgage Loan Trust 2.440% due 02/25/2034 ~	$	17	18
Structured Asset Mortgage Investments Trust 0.706% due 09/25/2045 •		365	367
Towd Point Mortgage Funding 0.950% due 07/20/2045 •	GBP	11,654	15,760
Uropa Securities PLC
0.263% due 06/10/2059 •		5,255	6,899
0.413% due 06/10/2059 •		1,438	1,881
0.613% due 06/10/2059 •		1,125	1,488
0.813% due 06/10/2059 •		1,199	1,577
WaMu Mortgage Pass-Through Certificates Trust
0.706% due 01/25/2045 •	$	37	38
0.826% due 11/25/2034 •		503	489
1.092% due 02/25/2046 •		323	328
Warwick Finance Residential Mortgages PLC 1.000% due 12/21/2049 •	GBP	974	1,318
Wells Fargo Mortgage-Backed Securities Trust 2.594% due 10/25/2037 ~	$	2,821	2,777
Total Non-Agency Mortgage-Backed Securities (Cost $120,068)			124,422
ASSET-BACKED SECURITIES 26.0%
ACE Securities Corp. Home Equity Loan Trust 0.866% due 04/25/2034 •		294	291
ACREC Ltd. 1.235% due 10/18/2036 •(a)		2,000	2,002

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

ALME Loan Funding DAC 0.750% due 01/15/2031 •	EUR	8,308	9,633
Ameriquest Mortgage Securities Trust 0.671% due 03/25/2036 •	$	41	41
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates
1.001% due 01/25/2035 •		4,558	4,572
1.106% due 01/25/2035 •		1,269	1,271
Aqueduct European CLO DAC 0.640% due 07/20/2030 •	EUR	7,166	8,313
Atrium Corp. 0.968% due 04/22/2027 •	$	5,628	5,631
Aurium CLO DAC 0.670% due 04/16/2030 •	EUR	6,847	7,935
Bear Stearns Asset-Backed Securities Trust
0.286% due 12/25/2036 •	$	225	225
0.821% due 09/25/2035 •		5,148	5,145
1.086% due 10/25/2037 •		56	56
BlueMountain Fuji EUR CLO DAC
0.650% due 07/15/2030 •	EUR	8,100	9,409
0.830% due 04/15/2034 •		6,000	6,912
0.910% due 01/15/2033 •		7,550	8,752
BNPP AM Euro CLO 0.600% due 04/15/2031 •		1,800	2,084
Cairn CLO DAC
0.600% due 04/30/2031 •		6,000	6,932
0.670% due 01/31/2030 •		5,527	6,405
Cathedral Lake CLO Ltd. 0.976% due 07/16/2029 •	$	11,571	11,575
Centex Home Equity Loan Trust 1.046% due 10/25/2035 •		4,279	4,299
CLNC Ltd. 1.414% due 08/20/2035 •		15,000	15,015
Conseco Finance Corp. 6.530% due 02/01/2031 ~		1,305	1,250
Crestline Denali CLO Ltd. 1.226% due 10/23/2031 •		12,800	12,800
CVC Cordatus Loan Fund DAC 0.630% due 09/15/2031 •	EUR	4,500	5,217
Dryden Senior Loan Fund 1.026% due 10/15/2027 •	$	5,942	5,942
ECAF Ltd.
3.473% due 06/15/2040		139	137
4.947% due 06/15/2040		380	364
ECMC Group Student Loan Trust 0.836% due 02/27/2068 •		6,106	6,093
First NLC Trust 0.791% due 12/25/2035 •		106	106
Gallatin CLO Ltd. 1.426% (US0003M + 1.050%) due 07/15/2027 ~		9,799	9,833
GoldenTree Loan Management EUR CLO DAC 0.900% due 01/20/2032 •	EUR	3,200	3,687
Harvest CLO DAC
0.630% due 11/18/2029 •		862	1,000
0.640% due 10/15/2031 •		7,500	8,625
Jamestown CLO Ltd. 1.354% due 01/17/2027 •	$	148	148
Jubilee CLO BV 0.256% due 12/15/2029 •	EUR	12,581	14,530
MACH Cayman Ltd. 3.474% due 10/15/2039	$	1,991	1,991
Man GLG Euro CLO DAC
0.680% due 10/15/2030 •	EUR	3,000	3,480
0.690% due 12/15/2031 •		7,300	8,470
Marble Point CLO Ltd. 1.166% due 10/15/2030 •	$	5,200	5,200
Merrill Lynch Mortgage Investors Trust 0.326% due 02/25/2037 •		151	65
METAL LLC 4.581% due 10/15/2042		1,981	1,823
Morgan Stanley ABS Capital, Inc. Trust
0.731% due 09/25/2035 •		121	121
1.336% due 07/25/2037 •		7,000	7,017
Morgan Stanley Mortgage Loan Trust 0.806% due 04/25/2037 •		100	42
Mountain View CLO Ltd. 0.926% due 10/15/2026 •		124	124
Navient Student Loan Trust 1.136% due 12/27/2066 •		12,903	13,121
Nomura Home Equity Loan, Inc. Home Equity Loan Trust 0.971% due 09/25/2035 •		605	608
OCP CLO Ltd. 0.926% due 07/15/2027 •		300	300
OCP Euro CLO DAC 0.880% due 09/22/2034 •	EUR	7,200	8,300
OZLM Ltd. 1.228% due 10/20/2031 •(a)	$	2,000	2,000

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

Pagaya AI Debt Selection Trust 1.150% due 05/15/2029		4,900	4,903
Palmer Square Loan Funding Ltd. 0.925% due 10/15/2029 •(a)		8,500	8,500
PRET LLC 1.868% due 07/25/2051 þ		5,320	5,323
Residential Asset Securities Corp. Trust
0.776% due 11/25/2035 •		2,393	2,391
1.046% due 08/25/2035 •		6,189	6,189
S-Jets Ltd. 3.967% due 08/15/2042		4,556	4,528
Securitized Asset-Backed Receivables LLC Trust 0.866% due 02/25/2034 •		9,677	9,658
Segovia European CLO 0.770% due 01/18/2031 •	EUR	1,050	1,215
Sound Point CLO Ltd.
1.038% due 01/23/2029 •	$	13,800	13,805
1.105% due 07/25/2030 •		11,700	11,706
1.184% due 10/20/2028 •		9,484	9,496
St Paul's CLO DAC 0.850% due 04/25/2030 •	EUR	2,400	2,785
Stanwich Mortgage Loan Co. LLC 3.375% due 08/15/2024 þ	$	309	310
Steele Creek CLO Ltd. 1.031% due 05/21/2029 •		4,601	4,602
Structured Asset Investment Loan Trust 0.791% due 03/25/2034 •		2,127	2,092
STWD Ltd. 1.284% due 04/18/2038 •		7,800	7,816
Symphony CLO Ltd. 1.006% due 04/15/2028 •		7,336	7,346
Telos CLO Ltd. 1.084% due 04/17/2028 •		853	854
TICP CLO Ltd. 0.974% due 04/20/2028 •		7,994	8,004
Toro European CLO DAC 0.920% due 01/12/2032 •	EUR	2,500	2,900
Towd Point Mortgage Trust 1.086% due 10/25/2059 •	$	6,902	6,965
Venture CLO Ltd.
1.006% due 04/15/2027 •		18,851	18,856
1.034% due 10/20/2028 •		7,679	7,681
1.154% due 04/20/2029 •		22,971	22,981
WAVE LLC 3.597% due 09/15/2044		2,245	2,248
Wells Fargo Home Equity Asset-Backed Securities Trust 1.136% due 10/25/2034 •		160	160
Total Asset-Backed Securities (Cost $412,774)			412,206
SOVEREIGN ISSUES 1.8%
Romania Government International Bond 1.750% due 07/13/2030	EUR	5,200	5,897
Singapore Government International Bond
1.625% due 07/01/2031	SGD	7,500	5,551
2.750% due 04/01/2042		20,750	17,311
Total Sovereign Issues (Cost $29,500)			28,759
		SHARES
PREFERRED SECURITIES 6.7%
BANKING & FINANCE 6.2%
Bank of America Corp. 5.875% due 03/15/2028 •(b)		6,700,000	7,655
CaixaBank S.A. 6.000% due 07/18/2022 •(b)(c)		200,000	240
Capital Farm Credit ACA 5.000% due 03/15/2026 •(b)		4,700,000	4,870
Charles Schwab Corp.
4.000% due 12/01/2030 •(b)		11,900,000	12,290
4.625% due 03/01/2022 •(b)		4,503,000	4,559
5.000% due 12/01/2027 •(b)		5,000,000	5,334
5.375% due 06/01/2025 •(b)		1,000,000	1,114
Citigroup, Inc. 3.875% due 02/18/2026 •(b)		5,300,000	5,426
Goldman Sachs Group, Inc. 3.800% due 05/10/2026 •(b)		2,300,000	2,360
JPMorgan Chase & Co.
3.599% (US0003M + 3.470%) due 01/30/2022 ~(b)		15,109,000	15,192
5.000% due 08/01/2024 •(b)		3,600,000	3,760
MetLife Capital Trust 7.875% due 12/15/2067		600,000	835

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

State Street Corp. 5.625% due 12/15/2023 •(b)(f)	14,000,000		14,820
Truist Financial Corp. 5.100% due 03/01/2030 •(b)	5,000,000		5,760
Wells Fargo & Co. 5.900% due 06/15/2024 •(b)	12,700,000		13,676
			97,891
INDUSTRIALS 0.5%
General Electric Co. 3.446% (US0003M + 3.330%) due 12/15/2021 ~(b)	9,000,000		8,830
Total Preferred Securities (Cost $101,964)			106,721
SHORT-TERM INSTRUMENTS 1.0%
REPURCHASE AGREEMENTS (e) 1.0%			15,405
Total Short-Term Instruments (Cost $15,405)			15,405
Total Investments in Securities (Cost $2,263,347)			2,297,150
	SHARES
INVESTMENTS IN AFFILIATES 0.0%
SHORT-TERM INSTRUMENTS 0.0%
CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0%
PIMCO Short-Term Floating NAV Portfolio III	10,845		107
Total Short-Term Instruments (Cost $107)			107
Total Investments in Affiliates (Cost $107)			107
Total Investments 145.1% (Cost $2,263,454)		$	2,297,257
Financial Derivative Instruments(g)(i)0.3%(Cost or Premiums, net $675)			5,608
Other Assets and Liabilities, net (45.5)%			(719,253)
Net Assets 100.0%		$	1,583,612

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

NOTES TO SCHEDULE OF INVESTMENTS:
* A zero balance may reflect actual amounts rounding to less than one thousand.
¤	The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.
^	Security is in default.
«	Security valued using significant unobservable inputs (Level 3).
~	Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.
•	Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.
þ	Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.
(a)	When-issued security.
(b)	Perpetual maturity; date shown, if applicable, represents next contractual call date.
(c)	Contingent convertible security.
(d)	RESTRICTED SECURITIES:
Issuer Description									Coupon		Maturity Date			Acquisition Date			Cost										Market Value								Market Value as Percentage of Net Assets
Deutsche Bank AG								2.129		%	11/24/2026			11/17/2020		$	1,400							$			1,423								0.09%
Deutsche Bank AG								3.729			01/14/2032			01/11/2021			1,200										1,240								0.08
Morgan Stanley								7.500			04/02/2032			02/11/2020			6,022										5,690								0.36
																$	8,622							$			8,353								0.53%
BORROWINGS AND OTHER FINANCING TRANSACTIONS
(e)	REPURCHASE AGREEMENTS:
Counterparty		Lending Rate	Settlement Date	Maturity Date			Principal Amount					Collateralized By									Collateral (Received)							Repurchase Agreements, at Value								Repurchase Agreement Proceeds to be Received
FICC		0.000%	09/30/2021	10/01/2021	$		15,405					U.S. Treasury Inflation Protected Securities 0.625% due 04/15/2023							$			(15,713)			$				15,405				$				15,405
Total Repurchase Agreements																				$			(15,713)			$				15,405				$				15,405
REVERSE REPURCHASE AGREEMENTS:
Counterparty						Borrowing Rate(1)							Settlement Date		Maturity Date								Amount Borrowed									Payable for Reverse Repurchase Agreements
BOS						0.080%							09/16/2021		10/05/2021			$					(10,954)								$	(10,955)
						0.080							09/29/2021		10/04/2021								(5,894)									(5,894)
BSN						0.070							09/09/2021		10/06/2021								(62,271)									(62,274)
						0.070							09/24/2021		10/08/2021								(30,098)									(30,098)
JPS						(0.100)							09/09/2021		11/08/2021								(9,920)									(9,920)
NOM						0.070							09/23/2021		10/07/2021								(230,974)									(230,977)
Total Reverse Repurchase Agreements																															$	(350,118)
SALE-BUYBACK TRANSACTIONS:
Counterparty						Borrowing Rate(1)							Borrowing Date		Maturity Date								Amount Borrowed(1)									Payable for Sale-Buyback Transactions
BCY						0.010%							09/22/2021		10/06/2021			$					(1,894)								$	(1,894)
TDL						(0.020)							09/30/2021		10/01/2021								(76,249)									(76,249)
Total Sale-Buyback Transactions																															$	(78,143)
(f)	Securities with an aggregate market value of $428,012 have been pledged as collateral under the terms of master agreements as of September 30, 2021.
(1)	The average amount of borrowings outstanding during the period ended September 30, 2021 was $(379,192) at a weighted average interest rate of 0.054%. 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

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

FUTURES CONTRACTS:
LONG FUTURES CONTRACTS
																																							Variation Margin
Description												Expiration Month					# of Contracts							Notional Amount									Unrealized Appreciation/ (Depreciation)								Asset										Liability
U.S. Treasury 10-Year Note December Futures												12/2021					877				$			115,421					$				(1,707)						$		123						$				0
SHORT FUTURES CONTRACTS
																																							Variation Margin
Description												Expiration Month					# of Contracts							Notional Amount									Unrealized Appreciation/ (Depreciation)								Asset										Liability
Euro-Bund 10-Year Bond December Futures												12/2021					178				$			(35,015)					$				491						$		143						$				(124)
United Kingdom Long Gilt December Futures												12/2021					1,373							(231,525)									7,302								944										(167)
																														$				7,793						$		1,087						$				(291)
Total Futures Contracts																													$				6,086						$		1,210						$				(291)
SWAP AGREEMENTS:
CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION(1)
																																											Variation Margin
Reference Entity		Fixed Receive Rate		Payment Frequency			Maturity Date			Implied Credit Spread at September 30, 2021(2)										Notional Amount(3)					Premiums Paid/ (Received)						Unrealized Appreciation/ (Depreciation)						Market Value(4)								Asset								Liability
AT&T, Inc.		1.000%		Quarterly			06/20/2025			0.439				%		$				3,700		$			(140)		$				218				$		78						$		0				$				(2)
Auchan Holding S.A.		1.000		Quarterly			12/20/2027			0.858						EUR				1,400					(81)						96						15								6								0
British Telecommunications PLC		1.000		Quarterly			12/20/2027			1.015										2,000					(8)						6						(2)								0								(1)
British Telecommunications PLC		1.000		Quarterly			06/20/2028			1.084										2,000					(12)						0						(12)								0								(1)
Energy Transfer Operating LP		1.000		Quarterly			12/20/2025			0.745						$				3,500					(44)						82						38								1								0
General Electric Co.		1.000		Quarterly			12/20/2023			0.353										5,800					(201)						287						86								0								0
General Electric Co.		1.000		Quarterly			06/20/2024			0.415										3,400					(5)						60						55								0								(2)
General Electric Co.		1.000		Quarterly			12/20/2024			0.458										1,400					(23)						48						25								0								0
General Electric Co.		1.000		Quarterly			06/20/2026			0.696										400					3						3						6								0								0
Tesco PLC		1.000		Quarterly			06/20/2028			0.929						EUR				1,700					5						5						10								0								(1)
																						$			(506)		$				805				$		299						$		7				$				(7)
CREDIT DEFAULT SWAPS ON CREDIT INDICES - SELL PROTECTION(1)
																																											Variation Margin
Index/Tranches			Fixed Receive Rate			Payment Frequency			Maturity Date									Notional Amount(3)							Premiums Paid/ (Received)						Unrealized Appreciation/ (Depreciation)						Market Value(4)								Asset								Liability
CDX.IG-36 5-Year Index			1.000%			Quarterly			06/20/2026				$					36,000				$			892		$				(14)				$		878						$		0				$				(10)
CDX.IG-37 5-Year Index			1.000			Quarterly			12/20/2026									55,700							1,355						(15)						1,340								0								(27)
																						$			2,247		$				(29)				$		2,218						$		0				$				(37)
INTEREST RATE SWAPS
																																											Variation Margin
Pay/ Receive Floating Rate	Floating Rate Index				Fixed Rate			Payment Frequency			Maturity Date								Notional Amount							Premiums Paid/ (Received)						Unrealized Appreciation/ (Depreciation)						Market Value								Asset								Liability
Receive	1-Day SGD-SIBCSORA Compounded-OIS				1.250%			Semi-Annual			09/15/2031				SGD				47,800				$			(260)		$				1,017				$		757						$		106				$				0
Pay	1-Year BRL-CDI				3.700			Maturity			01/03/2022				BRL				625,400							(170)						(819)						(989)								0								(2)
Pay	1-Year BRL-CDI				3.978			Maturity			01/03/2022								35,200							0						(45)						(45)								0								0

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

Pay		1-Year BRL-CDI		4.040	Maturity		01/03/2022			36,400						0						(44)						(44)			0					0
Pay		3-Month CAD-Bank Bill		0.980	Semi-Annual		02/26/2024		CAD	232,300						217						(506)						(289)			40					0
Pay		3-Month CAD-Bank Bill		0.880	Semi-Annual		03/03/2024			107,000						6						(373)						(367)			17					0
Pay		CPURNSA		2.596	Maturity		07/09/2026		$	6,000						0						(138)						(138)			3					0
Pay		CPURNSA		2.573	Maturity		07/13/2026			6,000						0						(141)						(141)			3					0
											$			(207)				$		(1,049)					$		(1,256)		$	169				$	(2)
Total Swap Agreements												$			1,534				$		(273)				$		1,261		$	176				$	(46)
(h)	Securities with an aggregate market value of $21,981 and cash of $7,292 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2021.
(1)	If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2)	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.
(3)	The maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(4)	The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument'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
FORWARD FOREIGN CURRENCY CONTRACTS:
																							Unrealized Appreciation/(Depreciation)
Counterparty			Settlement Month					Currency to be Delivered									Currency to be Received									Asset							Liability
BOA			10/2021			$		94,220					GBP				69,682							$		0						$	(331)
			11/2021			GBP		69,682					$				94,224									331							0
			11/2021			RUB		169									2									0							0
			11/2021			$		75					PLN				287									0							(3)
			11/2021					430					TWD				11,891									0							(3)
			12/2021					126					KRW				146,657									0							(2)
			12/2021					1,168					SGD				1,589									2							0
			02/2022					91					PLN				348									0							(3)
BPS			10/2021			EUR		1,533					$				1,813									37							0
			10/2021			MXN		11,314									557									9							0
			10/2021			$		1,084					GBP				791									0							(19)
			10/2021					560					MXN				11,314									0							(12)
			01/2022			MXN		11,314					$				553									12							0
BRC			11/2021			RUB		929									12									0							0
CBK			10/2021			$		1,483					GBP				1,075									0							(35)
			11/2021			RUB		1,398					$				19									0							0
			12/2021			$		53					ZAR				774									0							(3)
			02/2022					70					PLN				267									0							(3)
GLM			10/2021					1,361					GBP				982									0							(38)
			11/2021			RUB		977					$				13									0							0
			11/2021			$		1,081					GBP				804									2							0
			11/2021					229					TWD				6,306									0							(2)
			12/2021			IDR		2,789,302					$				194									0							0
			12/2021			RUB		2,255									30									0							0
			12/2021			$		41					ZAR				596									0							(2)
HUS			10/2021			EUR		9,848					$				11,591									184							0
			11/2021			COP		2,774,539									719									0							(7)
			11/2021			RUB		36									1									0							0
			12/2021			IDR		819,840									57									0							0
			12/2021			$		54					ZAR				780									0							(3)
JPM			10/2021			RUB		992					$				14									0							0
			11/2021			IDR		2,432,973									169									0							0
			12/2021			SGD		28,851									21,459									214							0
MYI			11/2021			IDR		796,430									55									0							0
			11/2021			$		142					PLN				540									0							(6)
			11/2021					120					TWD				3,302									0							(1)
RYL			12/2021			SGD		4,861					$				3,595									15							0
SCX			10/2021			EUR		115,910									136,912									2,648							0
			10/2021			GBP		74,488									102,077									1,712							0
			10/2021			JPY		39,268									358									5							0
			10/2021			RUB		2,241									30									0							(1)
			10/2021			$		2,683					GBP				1,958									0							(45)
			11/2021			EUR		127,291					$				147,604									76							0
			11/2021			JPY		39,268									352									0							(1)
			12/2021			IDR		1,692,338									118									1							0
			12/2021			INR		10,373									138									0							(1)
			12/2021			$		59					KRW				68,535									0							(1)
			12/2021					23					ZAR				330									0							(1)

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

TOR				12/2021		IDR		848,072					$	59											0												0
UAG				11/2021		RUB		702						9											0												0
				12/2021		$		25					ZAR	364											0												(1)
Total Forward Foreign Currency Contracts																					$			5,248									$			(524)
SWAP AGREEMENTS:
CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION(1)
																																	Swap Agreements, at Value(4)
Counterparty			Reference Entity		Fixed Receive Rate		Payment Frequency		Maturity Date			Implied Credit Spread at September 30, 2021(2)						Notional Amount(3)				Premiums Paid/(Received)							Unrealized Appreciation/ (Depreciation)					Asset						Liability
BOA			Colombia Government International Bond		1.000%		Quarterly		12/20/2026			1.684%				$		1,400	$			(37)					$		(10)			$		0				$		(47)
BPS			Brazil Government International Bond		1.000		Quarterly		06/20/2022			0.714						9,250				(644)							666					22						0
			Colombia Government International Bond		1.000		Quarterly		12/20/2026			1.684						2,700				(74)							(17)					0						(91)
BRC			Springleaf Finance Corp.		5.000		Quarterly		06/20/2022			0.515						800				66							(39)					27						0
CBK			Brazil Government International Bond		1.000		Quarterly		12/20/2024			1.409						3,000				(52)							14					0						(38)
			Colombia Government International Bond		1.000		Quarterly		12/20/2026			1.684						900				(24)							(6)					0						(30)
GST			Brazil Government International Bond		1.000		Quarterly		06/20/2024			1.291						200				(7)							5					0						(2)
			Brazil Government International Bond		1.000		Quarterly		12/20/2024			1.409						2,200				(34)							6					0						(28)
			Mexico Government International Bond		1.000		Quarterly		06/20/2023			0.371						2,300				(21)							47					26						0
			Mexico Government International Bond		1.000		Quarterly		12/20/2024			0.566						1,700				(14)							38					24						0
			Springleaf Finance Corp.		5.000		Quarterly		06/20/2022			0.515						500				43							(26)					17						0
JPM			Colombia Government International Bond		1.000		Quarterly		12/20/2026			1.684						2,000				(54)							(13)					0						(67)
			Mexico Government International Bond		1.000		Quarterly		06/20/2026			0.915						600				(5)							8					3						0
MYC			Mexico Government International Bond		1.000		Quarterly		12/20/2024			0.566						1,400				(12)							32					20						0
			Mexico Government International Bond		1.000		Quarterly		12/20/2025			0.790						200				(3)							5					2						0
			Mexico Government International Bond		1.000		Quarterly		12/20/2026			1.016						6,700				13							(16)					0						(3)
Total Swap Agreements																				$			(859)					$		694			$		141				$		(306)
(1)		If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2)		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.
(3)		The maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(4)		The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument'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
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 in valuing the Portfolio's assets and liabilities:
Category and Subcategory										Level 1					Level 2								Level 3								Fair Value at 09/30/2021
Investments in Securities, at Value
Loan Participations and Assignments										$	0				$		16,138						$			0					$		16,138
Corporate Bonds & Notes
	Banking & Finance										0						454,975									0							454,975
	Industrials										0						229,195									0							229,195
	Utilities										0						39,760									0							39,760
Municipal Bonds & Notes
	California										0						4,218									0							4,218
	Illinois										0						1,571									0							1,571
	New Jersey										0						5,649									0							5,649
	New York										0						12,749									0							12,749
	Texas										0						2,759									0							2,759
	Virginia										0						5,543									0							5,543
	West Virginia										0						9,354									0							9,354
U.S. Government Agencies											0						282,172									0							282,172
U.S. Treasury Obligations											0						545,554									0							545,554
Non-Agency Mortgage-Backed Securities											1,200						116,419									6,803							124,422
Asset-Backed Securities											0						412,206									0							412,206

Schedule of Investments PIMCO Fixed Income SHares: Series C(Cont.) September 30, 2021 (Unaudited)

Sovereign Issues			0		28,759		0		28,759
Preferred Securities
	Banking & Finance		0		97,891		0		97,891
	Industrials		0		8,830		0		8,830
Short-Term Instruments
	Repurchase Agreements		0		15,405		0		15,405
		$	1,200	$	2,289,147	$	6,803	$	2,297,150
Investments in Affiliates, at Value
Short-Term Instruments
	Central Funds Used for Cash Management Purposes	$	107	$	0	$	0	$	107
Total Investments		$	1,307	$	2,289,147	$	6,803	$	2,297,257
Financial Derivative Instruments - Assets
Exchange-traded or centrally cleared			1,087		299		0		1,386
Over the counter			0		5,389		0		5,389
		$	1,087	$	5,688	$	0	$	6,775
Financial Derivative Instruments - Liabilities
Exchange-traded or centrally cleared			(291)		(46)		0		(337)
Over the counter			0		(830)		0		(830)
		$	(291)	$	(876)	$	0	$	(1,167)
Total Financial Derivative Instruments		$	796	$	4,812	$	0	$	5,608
Totals		$	2,103	$	2,293,959	$	6,803	$	2,302,865
There were no significant transfers into or out of Level 3 during the period ended September 30, 2021.

Schedule of Investments PIMCO Fixed Income SHares: Series LD September 30, 2021 (Unaudited)

(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)
		PRINCIPAL AMOUNT (000s)		MARKET VALUE (000s)
INVESTMENTS IN SECURITIES 277.7% ¤
CORPORATE BONDS & NOTES 99.5%
BANKING & FINANCE 52.7%
AerCap Ireland Capital DAC 3.950% due 02/01/2022 (d)	$	500	$	504
Air Lease Corp. 2.750% due 01/15/2023 (d)		1,300		1,335
Ally Financial, Inc. 1.450% due 10/02/2023 (d)		1,000		1,015
American Tower Corp. 3.375% due 05/15/2024 (d)		1,200		1,279
Aozora Bank Ltd. 2.550% due 09/09/2022 (d)		1,300		1,321
Aviation Capital Group LLC 2.875% due 01/20/2022 (d)		1,800		1,809
Avolon Holdings Funding Ltd. 5.500% due 01/15/2023 (d)		400		421
Barclays PLC
1.505% (US0003M + 1.380%) due 05/16/2024 ~(d)		700		712
4.338% due 05/16/2024 •(d)		1,600		1,694
BOC Aviation Ltd.
2.750% due 09/18/2022 (d)		300		305
3.000% due 05/23/2022 (d)		1,300		1,314
BPCE S.A. 1.652% due 10/06/2026 •(d)		1,000		1,002
Cantor Fitzgerald LP 6.500% due 06/17/2022 (d)		2,200		2,290
CIT Group, Inc. 5.000% due 08/15/2022		1,000		1,036
CK Hutchison International Ltd. 3.250% due 04/11/2024 (d)		1,000		1,060
Credit Suisse Group AG 1.354% (US0003M + 1.240%) due 06/12/2024 ~(d)		700		711
Danske Bank A/S
1.171% due 12/08/2023 •		800		804
1.174% (US0003M + 1.060%) due 09/12/2023 ~(d)		2,400		2,429
Doric Nimrod Air Finance Alpha Ltd. Pass-Through Trust 5.125% due 11/30/2024		43		42
First Abu Dhabi Bank PJSC 0.975% (US0003M + 0.850%) due 08/08/2023 ~(d)		1,000		1,006
Five Corners Funding Trust 4.419% due 11/15/2023 (d)		500		540
Ford Motor Credit Co. LLC
3.219% due 01/09/2022		800		803
4.250% due 09/20/2022 (d)		1,400		1,433
5.596% due 01/07/2022		500		507
GA Global Funding Trust 1.625% due 01/15/2026 (d)		400		404
General Motors Financial Co., Inc.
3.450% due 04/10/2022 (d)		270		273
3.550% due 07/08/2022 (d)		2,000		2,048
HSBC Holdings PLC
1.116% (BBSW3M + 1.100%) due 02/16/2024 ~	AUD	1,400		1,021
1.494% (US0003M + 1.380%) due 09/12/2026 ~(d)	$	2,070		2,138
LeasePlan Corp. NV 2.875% due 10/24/2024 (d)		2,100		2,199
Lloyds Banking Group PLC 1.412% (BBSW3M + 1.400%) due 03/07/2025 ~	AUD	1,000		740
LSEGA Financing PLC 0.650% due 04/06/2024 (d)	$	1,800		1,796
Mizuho Financial Group, Inc. 1.425% (BBSW3M + 1.400%) due 07/19/2023 ~	AUD	1,500		1,103
Nationwide Building Society 3.622% due 04/26/2023 •(d)	$	500		509
Natwest Group PLC
1.595% (US0003M + 1.470%) due 05/15/2023 ~(d)		1,000		1,008
3.498% due 05/15/2023 •(d)		600		611
4.519% due 06/25/2024 •(d)		900		958
Nissan Motor Acceptance Co. LLC
0.779% (US0003M + 0.650%) due 07/13/2022 ~(d)		1,000		1,001
0.822% due 09/28/2022 •(d)		1,300		1,303
0.822% due 09/28/2022 •		100		100

Schedule of Investments PIMCO Fixed Income SHares: Series LD(Cont.) September 30, 2021 (Unaudited)

Nomura Holdings, Inc.
1.851% due 07/16/2025 (d)		600	609
2.648% due 01/16/2025 (d)		1,700	1,771
NTT Finance Corp. 1.162% due 04/03/2026 (d)		2,500	2,487
OneMain Finance Corp. 6.125% due 05/15/2022		400	411
ORIX Corp.
2.900% due 07/18/2022 (d)		1,200	1,225
3.200% due 01/19/2022 (d)		500	504
Pacific Life Global Funding 1.200% due 06/24/2025 (d)		1,100	1,103
Park Aerospace Holdings Ltd.
4.500% due 03/15/2023 (d)		700	732
5.250% due 08/15/2022 (d)		1,200	1,243
QNB Finance Ltd.
1.126% (US0003M + 1.000%) due 05/02/2022 ~(d)		400	402
1.769% (BBSW3M + 1.750%) due 02/01/2023 ~	AUD	1,500	1,099
SBA Tower Trust 2.836% due 01/15/2050	$	2,000	2,074
Scentre Group Trust 3.500% due 02/12/2025 (d)		800	853
SMBC Aviation Capital Finance DAC
3.000% due 07/15/2022 (d)		300	305
3.550% due 04/15/2024 (d)		300	318
Societe Generale S.A. 1.488% due 12/14/2026 •(d)		1,900	1,879
Standard Chartered PLC 1.319% due 10/14/2023 •(d)		300	302
State Bank of India 4.000% due 01/24/2022 (d)		500	505
Stellantis Finance US, Inc. 1.711% due 01/29/2027		800	798
Synchrony Financial 2.850% due 07/25/2022 (d)		1,000	1,018
UBS AG 0.891% (BBSW3M + 0.870%) due 07/30/2025 ~	AUD	2,000	1,469
Wells Fargo & Co.
2.509% due 10/27/2023 (b)	CAD	1,500	1,218
3.184% due 02/08/2024 (b)		1,500	1,236
			66,145
INDUSTRIALS 38.7%
7-Eleven, Inc. 0.950% due 02/10/2026 (d)	$	1,000	983
Arrow Electronics, Inc. 3.500% due 04/01/2022 (d)		600	606
BAT Capital Corp.
3.222% due 08/15/2024 (d)		2,600	2,757
3.557% due 08/15/2027 (d)		400	431
Berry Global, Inc.
1.570% due 01/15/2026		1,200	1,201
4.875% due 07/15/2026		600	631
Boeing Co. 4.508% due 05/01/2023 (d)		500	528
Boral Finance Pty. Ltd. 3.000% due 11/01/2022 (d)		1,100	1,121
Broadcom, Inc.
3.459% due 09/15/2026 (d)		900	973
4.250% due 04/15/2026 (d)		1,100	1,223
Carrier Global Corp. 2.242% due 02/15/2025 (d)		800	829
CenterPoint Energy Resources Corp.
0.620% (US0003M + 0.500%) due 03/02/2023 ~(d)		200	200
0.700% due 03/02/2023 (d)		300	300
Charter Communications Operating LLC
1.776% (US0003M + 1.650%) due 02/01/2024 ~(d)		2,200	2,263
4.500% due 02/01/2024		300	325
Citrix Systems, Inc. 1.250% due 03/01/2026 (d)		400	394
D.R. Horton, Inc. 4.375% due 09/15/2022 (d)		1,000	1,027
DAE Funding LLC 1.550% due 08/01/2024 (d)		600	595
Daimler Canada Finance, Inc. 3.300% due 08/16/2022 (b)	CAD	900	727
Dell International LLC 5.450% due 06/15/2023 (d)	$	400	429
Delta Air Lines, Inc.
3.625% due 03/15/2022		1,400	1,413
7.375% due 01/15/2026		500	589
Energy Transfer LP 5.000% due 10/01/2022 (d)		2,000	2,064
Gilead Sciences, Inc. 1.200% due 10/01/2027 (d)		700	686

Schedule of Investments PIMCO Fixed Income SHares: Series LD(Cont.) September 30, 2021 (Unaudited)

Global Payments, Inc. 1.200% due 03/01/2026 (d)	700	693
Hyundai Capital America
1.150% due 11/10/2022 (d)	700	704
2.850% due 11/01/2022 (d)	300	307
Imperial Brands Finance PLC
3.125% due 07/26/2024 (d)	650	684
3.750% due 07/21/2022 (d)	1,100	1,122
International Flavors & Fragrances, Inc. 1.230% due 10/01/2025 (d)	1,000	992
Kansas City Southern 3.000% due 05/15/2023 (d)	1,500	1,555
Lennar Corp. 4.500% due 04/30/2024 (d)	400	433
MGM Resorts International 7.750% due 03/15/2022	2,500	2,572
Nissan Motor Co. Ltd. 3.043% due 09/15/2023 (d)	1,000	1,040
Oracle Corp. 1.650% due 03/25/2026 (b)(d)	1,300	1,319
Pacific National Finance Pty. Ltd. 6.000% due 04/07/2023 (d)	1,000	1,065
PeaceHealth Obligated Group 1.375% due 11/15/2025 (d)	300	303
Petronas Energy Canada Ltd. 2.112% due 03/23/2028 (d)	1,000	1,005
Sabine Pass Liquefaction LLC 6.250% due 03/15/2022 (d)	1,100	1,113
Saudi Arabian Oil Co.
1.250% due 11/24/2023 (d)	1,100	1,108
2.875% due 04/16/2024	1,000	1,043
Spirit AeroSystems, Inc. 3.950% due 06/15/2023 (d)	1,100	1,121
SYNNEX Corp. 1.250% due 08/09/2024	2,000	2,001
Toll Brothers Finance Corp. 5.875% due 02/15/2022 (d)	2,000	2,011
Volkswagen Group of America Finance LLC 2.700% due 09/26/2022 (d)	500	511
Westinghouse Air Brake Technologies Corp.
4.400% due 03/15/2024	800	860
4.950% due 09/15/2028	300	346
Woodside Finance Ltd.
3.650% due 03/05/2025 (d)	100	106
3.650% due 03/05/2025	1,200	1,276
3.700% due 09/15/2026	1,000	1,081
		48,666
UTILITIES 8.1%
AES Corp. 1.375% due 01/15/2026	1,300	1,284
AT&T, Inc. 1.015% (US0003M + 0.890%) due 02/15/2023 ~(d)	1,100	1,110
FirstEnergy Corp. 3.350% due 07/15/2022 (d)	700	709
Israel Electric Corp. Ltd. 5.000% due 11/12/2024	400	444
Pacific Gas & Electric Co.
1.598% (US0003M + 1.480%) due 06/16/2022 ~(d)	1,000	1,000
1.750% due 06/16/2022 (d)	1,700	1,698
2.100% due 08/01/2027 (d)	200	195
2.950% due 03/01/2026 ^	100	103
3.250% due 06/15/2023 ^(d)	100	103
3.400% due 08/15/2024 ^(d)	200	208
3.850% due 11/15/2023 ^(d)	100	104
Southern California Edison Co. 1.100% due 04/01/2024 (d)	1,000	1,005
Sprint Communications, Inc. 6.000% due 11/15/2022	300	316
Systems Energy Resources, Inc. 2.140% due 12/09/2025 (d)	1,700	1,730
Telstra Corp. Ltd. 3.125% due 04/07/2025 (d)	100	106
Trans-Allegheny Interstate Line Co. 3.850% due 06/01/2025	100	108
		10,223
Total Corporate Bonds & Notes (Cost $123,898)		125,034
MUNICIPAL BONDS & NOTES 0.8%
ILLINOIS 0.3%
Illinois State General Obligation Notes, Series 2020 5.375% due 05/01/2023	300	324

Schedule of Investments PIMCO Fixed Income SHares: Series LD(Cont.) September 30, 2021 (Unaudited)

PENNSYLVANIA 0.5%
Pennsylvania Higher Education Assistance Agency Revenue Bonds, Series 2006 0.255% (US0003M + 0.130%) due 10/25/2036 ~		680	673
Total Municipal Bonds & Notes (Cost $970)			997
U.S. GOVERNMENT AGENCIES 16.6%
Fannie Mae
0.875% due 12/18/2026 (d)		5,000	4,947
1.070% due 09/25/2022 •		2	2
Federal Home Loan Bank
0.900% due 02/26/2027		2,500	2,469
1.020% due 02/24/2027 (d)		4,000	3,974
1.050% due 08/13/2026 (d)		3,000	2,995
1.100% due 08/20/2026 (d)		3,000	2,982
Freddie Mac
1.000% due 09/15/2044		2,248	2,247
2.214% due 07/15/2035 •		1,016	1,027
Ginnie Mae
0.537% due 10/20/2037 •		26	26
0.770% due 08/20/2061 •		2	2
0.890% due 05/20/2066 •		131	133
Total U.S. Government Agencies (Cost $20,935)			20,804
U.S. TREASURY OBLIGATIONS 100.0%
U.S. Treasury Notes
0.125% due 05/31/2023 (d)		78,300	78,181
0.375% due 08/15/2024 (d)		20,000	19,931
0.375% due 09/15/2024 (d)		27,600	27,484
Total U.S. Treasury Obligations (Cost $125,730)			125,596
NON-AGENCY MORTGAGE-BACKED SECURITIES 23.3%
AREIT Trust 2.784% due 04/15/2037 •		278	279
Avon Finance PLC 0.950% due 09/20/2048 •	GBP	779	1,054
Banc of America Funding Trust 2.496% due 09/20/2034 ~	$	18	19
Bancorp Commercial Mortgage Trust 1.214% due 09/15/2036 •		26	26
Bear Stearns Adjustable Rate Mortgage Trust
2.176% due 04/25/2033 ~		19	20
2.259% due 01/25/2034 ~		5	5
2.601% due 11/25/2034 ~		21	20
Brass PLC 0.825% due 11/16/2066 •		76	77
BWAY Mortgage Trust 1.334% due 09/15/2036 •		1,400	1,404
BX Commercial Mortgage Trust 0.784% due 01/15/2034 •		1,200	1,202
BXMT Ltd. 1.564% due 03/15/2037 •		1,100	1,105
Citigroup Mortgage Loan Trust
0.900% due 05/25/2051 •		1,100	1,100
2.470% due 10/25/2035 •		3	3
Countrywide Alternative Loan Trust 0.406% due 07/25/2036 •		20	26
Credit Suisse First Boston Mortgage Securities Corp.
2.727% due 06/25/2033 ~		6	6
6.500% due 04/25/2033		20	21
DROP Mortgage Trust 1.230% due 04/15/2026 •		1,500	1,507
Extended Stay America Trust 1.164% due 07/15/2038 •		1,293	1,299
GCAT
1.348% due 05/25/2066 ~		928	929
1.503% due 05/25/2066 ~		928	929
GCCFC Commercial Mortgage Trust 0.884% due 02/15/2038 •		200	200
Gemgarto PLC 0.640% due 12/16/2067 •	GBP	1,715	2,322
GS Mortgage-Backed Securities Trust
0.900% due 12/25/2051 •	$	496	496
0.900% due 02/25/2052 •		1,489	1,494
GSR Mortgage Loan Trust
1.985% due 08/25/2033 •		53	52
2.859% due 09/25/2035 ~		3	3
Hawksmoor Mortgage Funding PLC 1.100% due 05/25/2053 •	GBP	715	968
Impac CMB Trust
0.726% due 03/25/2035 •	$	203	201
1.086% due 07/25/2033 •		134	133

Schedule of Investments PIMCO Fixed Income SHares: Series LD(Cont.) September 30, 2021 (Unaudited)

JP Morgan Chase Commercial Mortgage Securities Trust 1.534% due 12/15/2031 •		710	707
JP Morgan Mortgage Trust
2.285% due 02/25/2035 ~		1	1
2.372% due 04/25/2035 ~		61	66
2.490% due 02/25/2034 ~		23	24
2.665% due 06/25/2035 ~		5	6
2.696% due 09/25/2034 ~		5	5
Legacy Mortgage Asset Trust 3.000% due 06/25/2059 þ		768	772
Mellon Residential Funding Corp. Mortgage Pass-Through Trust
0.564% due 06/15/2030 •		9	9
2.610% due 10/20/2029 •		7	7
Merrill Lynch Mortgage Investors Trust
0.546% due 04/25/2029 •		3	3
0.726% due 10/25/2028 •		2	2
2.824% due 02/25/2035 ~		69	71
MF1 Multifamily Housing Mortgage Loan Trust 1.014% due 07/15/2036 •		1,100	1,102
MFA Trust
1.131% due 07/25/2060 ~		893	890
1.381% due 04/25/2065 ~		333	335
Morgan Stanley Mortgage Loan Trust 2.498% due 11/25/2034 ~		3	3
New Residential Mortgage Loan Trust
0.941% due 10/25/2058 ~		731	732
2.750% due 07/25/2059 ~		711	736
2.750% due 11/25/2059 ~		720	742
3.500% due 12/25/2057 ~		944	973
PFP Ltd. 1.100% due 08/09/2037 •		1,400	1,412
Pretium Mortgage Credit Partners LLC 1.992% due 02/25/2061 þ		568	568
Prime Mortgage Trust 0.486% due 02/25/2034 •		4	4
Sequoia Mortgage Trust
0.787% due 10/19/2026 •		47	47
0.847% due 10/20/2027 •		5	5
Stratton Mortgage Funding PLC 0.950% due 07/20/2060 •	GBP	185	251
Structured Asset Mortgage Investments Trust
0.667% due 07/19/2034 •	$	24	25
0.747% due 09/19/2032 •		5	5
4.950% due 06/25/2029 ~		3	3
Thornburg Mortgage Securities Trust
0.726% due 09/25/2043 •		4	4
2.079% due 04/25/2045 ~		11	12
Towd Point Mortgage Funding PLC 1.097% due 10/20/2051 •	GBP	302	410
Trinity Square PLC 0.899% due 07/15/2059 •		924	1,252
WaMu Mortgage Pass-Through Certificates Trust
0.626% due 12/25/2045 •	$	108	111
0.666% due 10/25/2045 •		17	17
0.826% due 11/25/2034 •		41	40
0.886% due 06/25/2044 •		15	15
1.492% due 06/25/2042 •		3	3
Wells Fargo Commercial Mortgage Trust 0.933% due 12/13/2031 •		1,000	992
Total Non-Agency Mortgage-Backed Securities (Cost $29,170)			29,262
ASSET-BACKED SECURITIES 34.6%
A10 Bridge Asset Financing LLC 2.021% due 08/15/2040		632	635
American Money Management Corp. CLO Ltd. 1.113% due 04/14/2029 •		185	185
Amortizing Residential Collateral Trust 1.086% due 10/25/2034 •		138	138
Apidos CLO 1.064% due 07/17/2030 •		400	400
Assurant CLO Ltd. 1.174% due 10/20/2031 •		600	600
Bear Stearns Asset-Backed Securities Trust
0.886% due 10/27/2032 •		29	29
1.211% due 03/25/2035 •		1,000	1,001
1.286% due 01/25/2045 •		220	221
Blackrock European CLO DAC 0.620% due 10/15/2031 •	EUR	2,000	2,311
Carlyle Euro CLO DAC 0.700% due 01/15/2031 •		800	928
Carlyle Global Market Strategies Euro CLO Ltd. 0.750% due 11/15/2031 •		700	812
CARLYLE U.S. CLO Ltd. 1.134% due 04/20/2031 •	$	1,300	1,300

Schedule of Investments PIMCO Fixed Income SHares: Series LD(Cont.) September 30, 2021 (Unaudited)

Carrington Mortgage Loan Trust 1.254% due 10/20/2029 •																																																																							1,000																										1,001
Catamaran CLO Ltd. 1.224% due 01/18/2029 •																																																																							1,043																										1,044
Chase Funding Trust 0.826% due 10/25/2032 •																																																																							51																										51
Countrywide Asset-Backed Certificates Trust 0.566% due 05/25/2036 •																																																																							500																										499
Delta Funding Home Equity Loan Trust 0.904% due 09/15/2029 •																																																																							5																										5
Finance America Mortgage Loan Trust 0.911% due 08/25/2034 •																																																																							109																										109
First Franklin Mortgage Loan Trust 0.406% due 04/25/2036 •																																																																							1,092																										1,075
FirstKey Homes Trust 1.266% due 10/19/2037																																																																							499																										497
Ford Auto Securitization Trust 0.887% due 08/15/2024																																																																CAD							2,100																										1,662
GSAMP Trust 0.606% due 06/25/2036 •																																																																$							687																										680
Halcyon Loan Advisors Funding Ltd. 1.054% due 04/20/2027 •																																																																							33																										33
Harvest CLO DAC 1.040% due 07/15/2031																																																																EUR							400																										463
HERA Commercial Mortgage Ltd. 1.137% due 02/18/2038 •																																																																$							900																										900
Jubilee CLO BV 0.610% due 04/15/2030 •																																																																EUR							1,200																										1,388
LCM LP
1.174% due 10/20/2027 •																																																																$							144																										144
1.214% due 04/20/2031 •																																																																							250																										250
MF1 Ltd.
1.175% due 10/18/2036 •																																																																							100																										100
1.864% due 11/15/2035 •																																																																							600																										604
MidOcean Credit CLO 1.229% due 01/29/2030 •																																																																							1,500																										1,499
Navient Private Education Refi Loan Trust
1.170% due 09/16/2069																																																																							891																										896
1.690% due 05/15/2069																																																																							1,387																										1,408
New Century Home Equity Loan Trust 1.016% due 11/25/2034 •																																																																							661																										661
NovaStar Mortgage Funding Trust 0.746% due 01/25/2036 •																																																																							956																										957
OCP Euro CLO DAC 0.880% due 09/22/2034 •																																																																EUR							500																										576
Palmer Square CLO Ltd. 0.975% due 08/15/2026 •																																																																$							184																										184
Palmer Square European Loan Funding DAC 0.780% due 04/15/2031 •																																																																EUR							300																										348
Palmer Square Loan Funding Ltd.
0.931% due 02/20/2028 •																																																																$							571																										571
1.025% due 10/24/2027 •																																																																							632																										632
PFS Financing Corp. 0.930% due 08/15/2024																																																																							200																										201
RAAC Trust 0.911% due 01/25/2046 •																																																																							700																										700
Residential Mortgage Loan Trust 1.586% due 09/25/2029 •																																																																							1																										1
Securitized Asset-Backed Receivables LLC Trust 0.761% due 01/25/2035 •																																																																							350																										342
SLM Student Loan Trust
0.666% due 12/15/2025 •																																																																							147																										147
0.875% due 04/25/2023 •																																																																							576																										570
1.625% due 04/25/2023 •																																																																							343																										346
1.825% due 07/25/2023 •																																																																							279																										282
SMB Private Education Loan Trust
0.689% due 03/17/2053 •																																																																							200																										201
0.936% due 09/15/2054 •																																																																							4,856																										4,921
1.084% due 06/15/2027 •																																																																							30																										30
SoFi Professional Loan Program LLC 3.020% due 02/25/2040																																																																							104																										107
SP-Static CLO Ltd. 1.538% due 07/22/2028 •																																																																							583																										584
Toro European CLO DAC 0.920% due 01/12/2032 •																																																																EUR							500																										580
Towd Point Asset Trust 0.795% due 11/20/2061 •																																																																$							477																										480
Towd Point Mortgage Trust
1.086% due 05/25/2058 •																																																																							732																										739
1.086% due 10/25/2059 •																																																																							632																										638
1.636% due 04/25/2060 ~																																																																							1,439																										1,451
2.710% due 01/25/2060 ~																																																																							489																										502
3.000% due 11/25/2059 ~																																																																							303																										304
3.750% due 05/25/2058 ~																																																																							935																										979
Venture CLO Ltd.
1.154% due 04/20/2029 •																																																																							754																										754
1.234% due 01/20/2029 •																																																																							300																										300
Voya CLO Ltd. 1.091% due 10/15/2030 •																																																																							1,400																										1,400
Zais CLO Ltd. 1.276% due 04/15/2028 •																																																																							74																										74
Total Asset-Backed Securities (Cost $43,334)																																																																																																	43,430
SOVEREIGN ISSUES 2.1%
Export-Import Bank of India 1.131% (US0003M + 1.000%) due 08/21/2022 ~																																																																							250																										251
Israel Government International Bond 5.500% due 01/31/2022																																																																ILS							7,600																										2,401
Total Sovereign Issues (Cost $2,587)																																																																																																	2,652
																																																																							SHARES
PREFERRED SECURITIES 0.3%
BANKING & FINANCE 0.3%
JPMorgan Chase & Co. 3.599% (US0003M + 3.470%) due 01/30/2022 ~(a)																																																																							440,000																										442
Total Preferred Securities (Cost $440)																																																																																																	442
SHORT-TERM INSTRUMENTS 0.5%
REPURCHASE AGREEMENTS (c) 0.5%																																																																																																	674
Total Short-Term Instruments (Cost $674)																																																																																																	674
Total Investments in Securities (Cost $347,738)																																																																																																	348,891
INVESTMENTS IN AFFILIATES 0.1%
SHORT-TERM INSTRUMENTS 0.1%
CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.1%
PIMCO Short-Term Floating NAV Portfolio III																																																																							11,155																										110
Total Short-Term Instruments (Cost $110)																																																																																																	110
Total Investments in Affiliates (Cost $110)																																																																																																	110
Total Investments 277.8% (Cost $347,848)																																																																																													$				349,001
Financial Derivative Instruments(e)(f)0.2%(Cost or Premiums, net $(1,308))																																																																																																	249
Other Assets and Liabilities, net (178.0)%																																																																																																	(223,620)
Net Assets 100.0%																																																																																													$				125,630
NOTES TO SCHEDULE OF INVESTMENTS:
* A zero balance may reflect actual amounts rounding to less than one thousand.
¤		The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.
^		Security is in default.
~		Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.
•		Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.
þ		Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.
(a)		Perpetual maturity; date shown, if applicable, represents next contractual call date.
(b)		RESTRICTED SECURITIES:
Issuer Description																											Coupon												Maturity Date														Acquisition Date																						Cost																											Market Value																			Market Value as Percentage of Net Assets
Daimler Canada Finance, Inc.																									3.300											%			08/16/2022														10/16/2020																$						695																	$										727																			0.58							%
Oracle Corp.																									1.650														03/25/2026														03/22/2021																						1,299																											1,319																			1.05
Wells Fargo & Co.																									2.509														10/27/2023														10/14/2020																						1,174																											1,218																			0.97
Wells Fargo & Co.																									3.184														02/08/2024														10/06/2020																						1,177																											1,236																			0.98
																																																																				$						4,345																	$										4,500																			3.58%
BORROWINGS AND OTHER FINANCING TRANSACTIONS
(c)		REPURCHASE AGREEMENTS:
Counterparty				Lending Rate				Settlement Date			Maturity Date												Principal Amount																	Collateralized By																																													Collateral (Received)																		Repurchase Agreements, at Value																			Repurchase Agreement Proceeds to be Received
FICC				0.000%				09/30/2021			10/01/2021							$					674																	U.S. Treasury Notes 1.625% due 12/15/2022																																								$							(688)													$							674											$							674
Total Repurchase Agreements																																																																																$							(688)													$							674											$							674
REVERSE REPURCHASE AGREEMENTS:
Counterparty																						Borrowing Rate(1)																			Settlement Date																			Maturity Date																											Amount Borrowed(1)																										Payable for Reverse Repurchase Agreements
BOS																						0.250%																			05/28/2021																			TBD(2)																			$								(2,579)																						$				(2,582)
BPS																						0.250																			06/24/2021																			TBD(2)																											(2,484)																										(2,486)
BRC																						0.250																			06/25/2021																			TBD(2)																											(182)																										(182)
FOB																						0.250																			04/15/2021																			TBD(2)																											(12,515)																										(12,529)
																						0.250																			05/14/2021																			TBD(2)																											(923)																										(924)
NOM																						0.250																			07/13/2021																			TBD(2)																											(1,236)																										(1,237)
RDR																						0.250																			07/13/2021																			TBD(2)																											(807)																										(807)
SOG																						0.240																			06/25/2021																			TBD(2)																											(12,395)																										(12,403)
																						0.320																			10/13/2020																			TBD(2)																											(687)																										(689)
TDM																						0.240																			03/04/2021																			TBD(2)																											(3,245)																										(3,249)
																						0.240																			04/06/2021																			TBD(2)																											(1,099)																										(1,100)
																						0.240																			04/08/2021																			TBD(2)																											(953)																										(954)
																						0.250																			02/26/2021																			TBD(2)																											(6,395)																										(6,405)
																						0.250																			03/23/2021																			TBD(2)																											(5,970)																										(5,978)
																						0.250																			03/25/2021																			TBD(2)																											(1,546)																										(1,548)
																						0.250																			03/29/2021																			TBD(2)																											(1,056)																										(1,058)
																						0.250																			04/13/2021																			TBD(2)																											(2,107)																										(2,110)
																						0.250																			04/16/2021																			TBD(2)																											(19,208)																										(19,230)
																						0.250																			05/11/2021																			TBD(2)																											(958)																										(959)
																						0.250																			09/13/2021																			TBD(2)																											(1,516)																										(1,516)
																						0.300																			07/14/2021																			TBD(2)																											(2,111)																										(2,112)
UBS																						0.250																			03/22/2021																			TBD(2)																											(1,026)																										(1,028)
																						0.250																			06/25/2021																			TBD(2)																											(4,656)																										(4,659)
																						0.350																			08/13/2021																			TBD(2)																											(1,768)																										(1,769)
Total Reverse Repurchase Agreements																																																																																																													$				(87,514)
SALE-BUYBACK TRANSACTIONS:
Counterparty																						Borrowing Rate(1)																			Borrowing Date																			Maturity Date																											Amount Borrowed(1)																										Payable for Sale-Buyback Transactions
BOS																						0.090%																			09/28/2021																			10/01/2021																			$								(12,087)																						$				(12,088)
BPG																						(0.120)																			09/30/2021																			10/04/2021																											(27,475)																										(27,475)
CSN																						0.060																			09/28/2021																			10/01/2021																											(19,915)																										(19,915)
																						0.070																			09/28/2021																			10/05/2021																											(78,210)																										(78,210)
Total Sale-Buyback Transactions																																																																																																													$				(137,688)
(d)		Securities with an aggregate market value of $229,834 have been pledged as collateral under the terms of master agreements as of September 30, 2021.
(1)		The average amount of borrowings outstanding during the period ended September 30, 2021 was $(130,249) at a weighted average interest rate of 0.192%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.
(2)		Open maturity reverse repurchase agreement.
(e)		FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED
FUTURES CONTRACTS:
LONG FUTURES CONTRACTS
																																																																Variation Margin
Description																					Expiration Month								# of Contracts																				Notional Amount																		Unrealized Appreciation/ (Depreciation)																											Asset																														Liability
3-Month Canada Bankers' Acceptance December Futures																					12/2022								212													$							41,330													$					(31)																						$					0																		$												(13)
3-Month Canada Bankers' Acceptance March Futures																					03/2023								149																				28,986																		(81)																											0																														(10)
U.S. Treasury 2-Year Note December Futures																					12/2021								87																				19,145																		(3)																											3																														0
																																																													$					(115)																						$					3																		$												(23)
SHORT FUTURES CONTRACTS
																																																																Variation Margin
Description																					Expiration Month								# of Contracts																				Notional Amount																		Unrealized Appreciation/ (Depreciation)																											Asset																														Liability
U.S. Treasury 5-Year Note December Futures																					12/2021								516													$							(63,335)													$					289																						$					0																		$												(45)
U.S. Treasury 10-Year Note December Futures																					12/2021								52																				(6,844)																		73																											0																														(7)
U.S. Treasury 10-Year Ultra Long-Term Bond December Futures																					12/2021								99																				(14,380)																		283																											0																														(17)
																																																													$					645																						$					0																		$												(69)
Total Futures Contracts																																																													$					530																						$					3																		$												(92)
SWAP AGREEMENTS:
CREDIT DEFAULT SWAPS ON CREDIT INDICES - BUY PROTECTION(1)
																																																																Variation Margin
Index/Tranches							Fixed (Pay) Rate			Payment Frequency					Maturity Date																	Notional Amount(2)																		Premiums Paid/ (Received)													Unrealized Appreciation/ (Depreciation)																			Market Value(3)																						Asset																					Liability
CDX.IG-35 5-Year Index							(1.000)%			Quarterly					12/20/2025											$						600												$						(14)							$						(1)													$						(15)															$							0											$										0
CDX.IG-36 5-Year Index							(1.000)			Quarterly					06/20/2026																	27,300																		(684)													18																			(666)																						9																					0
CDX.IG-37 5-Year Index							(1.000)			Quarterly					12/20/2026																	22,800																		(567)													19																			(548)																						11																					0
																																												$						(1,265)							$						36													$						(1,229)															$							20											$										0
INTEREST RATE SWAPS -BASIS SWAPS
																																																																Variation Margin
Pay Floating Rate Index						Receive Floating Rate Index							Payment Frequency						Maturity Date															Notional Amount																Premiums Paid/ (Received)													Unrealized Appreciation/ (Depreciation)																			Market Value																						Asset																					Liability
3-Month USD-LIBOR(4)						01-Month USD-LIBOR + 0.098%								Quarterly						01/13/2023								$							7,400										$						(3)							$						(1)													$						(4)															$							0											$										0
3-Month USD-LIBOR(4)						01-Month USD-LIBOR + 0.098%								Quarterly						01/13/2023															5,700																0													(3)																			(3)																						0																					0
																																												$						(3)							$						(4)													$						(7)															$							0											$										0
INTEREST RATE SWAPS
																																																																Variation Margin
Pay/ Receive Floating Rate			Floating Rate Index						Fixed Rate			Payment Frequency					Maturity Date																Notional Amount																			Premiums Paid/ (Received)													Unrealized Appreciation/ (Depreciation)																			Market Value																						Asset																					Liability
Pay			3-Month USD-LIBOR						0.250%			Semi-Annual					06/16/2023																37,800													$						12							$						(24)													$						(12)															$							0											$										0
Total Swap Agreements																																												$						(1,256)							$						8													$						(1,248)															$							20											$										0
Cash of $1,819 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2021.
(1)		If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2)		The maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(3)		The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
(4)		This instrument has a forward starting effective date.
(f)		FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER
FORWARD FOREIGN CURRENCY CONTRACTS:
																																																																Unrealized Appreciation/(Depreciation)
Counterparty								Settlement Month																Currency to be Delivered																														Currency to be Received																											Asset																																	Liability
BOA								10/2021								AUD								2,870																							$							2,083																		$									8																											$						0
								10/2021								EUR								300																														355																											7																																	0
								10/2021								$								980																							AUD							1,352																											0																																	(3)
								10/2021																156																							CAD							198																											0																																	0
								10/2021																6,384																							GBP							4,721																											0																																	(22)
								11/2021								AUD								1,352																							$							980																											3																																	0
								11/2021								GBP								4,721																														6,384																											22																																	0
BRC								10/2021																15																														21																											1																																	0
								11/2021								$								1,522																							JPY							170,500																											10																																	0
MYI								10/2021								CAD								182																							$							144																											0																																	0
								10/2021								EUR								500																														587																											8																																	0
								01/2022								ILS								8,019																														2,454																											0																																	(37)
SCX								10/2021								AUD								4,611																														3,344																											11																																	0
								10/2021								EUR								10,307																														12,175																											236																																	0
								10/2021								GBP								4,706																														6,449																											108																																	0
								10/2021								$								2,787																							JPY							306,100																											0																																	(37)
								11/2021								EUR								11,107																							$							12,879																											7																																	0
								11/2021								$								2,744																							JPY							306,100																											7																																	0
TOR								10/2021								CAD								6,527																							$							5,165																											12																																	0
								10/2021								$								3,533																							AUD							4,876																											0																																	(8)
								10/2021																5,140																							CAD							6,511																											1																																	0
								11/2021								AUD								4,876																							$							3,534																											8																																	0
								11/2021								CAD								6,511																														5,139																											0																																	(1)
Total Forward Foreign Currency Contracts																																																																$									449																											$						(108)
WRITTEN OPTIONS:
CREDIT DEFAULT SWAPTIONS ON CREDIT INDICES
Counterparty					Description																										Buy/Sell Protection												Exercise Rate												Expiration Date															Notional Amount(1)																				Premiums (Received)																													Market Value
GST					Put - OTC CDX.IG-36 5-Year Index																										Sell												0.800%												10/20/2021															2,600																$				(3)																				$									0
					Put - OTC CDX.IG-36 5-Year Index																										Sell												0.850												10/20/2021															22,100																				(23)																													(1)
MYC					Put - OTC CDX.IG-37 5-Year Index																										Sell												0.800												01/19/2022															5,900																				(8)																													(8)
																																																																																						$				(34)																				$									(9)
OPTIONS ON SECURITIES
Counterparty					Description																																Strike Price											Expiration Date																						Notional Amount(1)																				Premiums (Received)																													Market Value
GSC					Call - OTC Uniform Mortgage-Backed Security, TBA 2.500% due 10/01/2051																									$							103.602											10/07/2021																						200																$				(1)																				$									0
JPM					Put - OTC Ginnie Mae, TBA 2.500% due 10/01/2051																																102.430											10/14/2021																						600																				(1)																													0
					Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 10/01/2051																																101.188											10/07/2021																						1,100																				(7)																													0
					Call - OTC Uniform Mortgage-Backed Security, TBA 2.500% due 11/01/2051																																103.375											11/03/2021																						300																				(1)																													(1)
SAL					Put - OTC Ginnie Mae, TBA 2.000% due 10/01/2051																																100.938											10/14/2021																						100																				0																													0
					Put - OTC Ginnie Mae, TBA 2.000% due 11/01/2051																																100.469											11/12/2021																						100																				0																													0
					Put - OTC Ginnie Mae, TBA 2.000% due 11/01/2051																																100.953											11/12/2021																						400																				(1)																													(2)
					Put - OTC Ginnie Mae, TBA 2.500% due 10/01/2051																																102.281											10/14/2021																						300																				(1)																													0
					Put - OTC Ginnie Mae, TBA 2.500% due 11/01/2051																																103.070											11/12/2021																						2,600																				(5)																													(11)
					Put - OTC Ginnie Mae, TBA 3.000% due 10/01/2051																																103.719											10/14/2021																						500																				(1)																													0
																																																																																						$				(18)																				$									(14)
Total Written Options																																																																$				(52)																				$									(23)
(1)		Notional Amount represents the number of contracts.
FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 in valuing the Portfolio's assets and liabilities:
Category and Subcategory																																						Level 1																		Level 2																	Level 3																						Fair Value at 09/30/2021
Investments in Securities, at Value
Corporate Bonds & Notes
	Banking & Finance																																					$			0															$				66,145													$							0															$												66,145
	Industrials																																								0																			48,666																				0																											48,666
	Utilities																																								0																			10,223																				0																											10,223
Municipal Bonds & Notes
	Illinois																																								0																			324																				0																											324
	Pennsylvania																																								0																			673																				0																											673
U.S. Government Agencies																																									0																			20,804																				0																											20,804
U.S. Treasury Obligations																																									0																			125,596																				0																											125,596
Non-Agency Mortgage-Backed Securities																																									0																			29,262																				0																											29,262
Asset-Backed Securities																																									0																			43,430																				0																											43,430
Sovereign Issues																																									0																			2,652																				0																											2,652
Preferred Securities
	Banking & Finance																																								0																			442																				0																											442
Short-Term Instruments
	Repurchase Agreements																																								0																			674																				0																											674
																																						$			0															$				348,891													$							0															$												348,891
Investments in Affiliates, at Value
Short-Term Instruments
	Central Funds Used for Cash Management Purposes																																					$			110															$				0													$							0															$												110
Total Investments																																						$			110															$				348,891													$							0															$												349,001
Financial Derivative Instruments - Assets
Exchange-traded or centrally cleared																																									0																			23																				0																											23
Over the counter																																									0																			449																				0																											449
																																						$			0															$				472													$							0															$												472
Financial Derivative Instruments - Liabilities
Exchange-traded or centrally cleared																																									(23)																			(69)																				0																											(92)
Over the counter																																									0																			(131)																				0																											(131)
																																						$			(23)															$				(200)													$							0															$												(223)
Total Financial Derivative Instruments																																						$			(23)															$				272													$							0															$												249
Totals																																						$			87															$				349,163													$							0															$												349,250
There were no significant transfers into or out of Level 3 during the period ended September 30, 2021.

Schedule of Investments PIMCO Fixed Income SHares: Series M September 30, 2021 (Unaudited)

(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)
		PRINCIPAL AMOUNT (000s)		MARKET VALUE (000s)
INVESTMENTS IN SECURITIES 148.1% ¤
LOAN PARTICIPATIONS AND ASSIGNMENTS 0.7%
Castlelake LP 2.950% (LIBOR03M + 2.950%) due 05/13/2031 «~	$	10,469	$	10,542
Total Loan Participations and Assignments (Cost $10,453)				10,542
CORPORATE BONDS & NOTES 34.2%
BANKING & FINANCE 22.1%
Avolon Holdings Funding Ltd.
2.528% due 11/18/2027		243		239
4.250% due 04/15/2026		4,600		4,950
Banco Bilbao Vizcaya Argentaria S.A. 5.875% due 09/24/2023 •(d)(e)	EUR	800		994
Banco Santander Mexico S.A. 4.125% due 11/09/2022	$	26,100		26,952
Barclays Bank PLC 7.625% due 11/21/2022 (e)		1,342		1,439
Barclays PLC
3.375% due 04/02/2025 •	EUR	4,600		5,769
4.375% due 01/12/2026	$	1,400		1,563
4.972% due 05/16/2029 •		3,100		3,606
6.375% due 12/15/2025 •(d)(e)	GBP	1,500		2,233
7.125% due 06/15/2025 •(d)(e)		200		302
7.250% due 03/15/2023 •(d)(e)		1,000		1,437
7.750% due 09/15/2023 •(d)(e)	$	700		765
7.875% due 09/15/2022 •(d)(e)	GBP	1,600		2,279
8.000% due 06/15/2024 •(d)(e)	$	3,800		4,294
BGC Partners, Inc. 5.375% due 07/24/2023		10,200		10,959
BPCE S.A. 4.625% due 07/11/2024		14,300		15,574
Carlyle Finance Subsidiary LLC 3.500% due 09/19/2029		4,000		4,306
CI Financial Corp. 4.100% due 06/15/2051		5,000		5,385
Citigroup, Inc. 2.976% due 11/05/2030 •		15,000		15,779
Credit Suisse AG 6.500% due 08/08/2023 (e)		16,000		17,546
Credit Suisse Group AG
6.250% due 12/18/2024 •(d)(e)		1,300		1,404
7.125% due 07/29/2022 •(d)(e)		12,400		12,887
7.500% due 07/17/2023 •(d)(e)		1,000		1,072
7.500% due 12/11/2023 •(d)(e)		3,000		3,285
Crown Castle International Corp. 4.450% due 02/15/2026		8,000		8,963
CyrusOne LP 1.450% due 01/22/2027	EUR	7,500		8,746
Deutsche Bank AG
1.000% due 11/19/2025 •		3,200		3,789
3.961% due 11/26/2025 •	$	9,000		9,738
4.250% due 10/14/2021		800		801
5.625% due 05/19/2031 •	EUR	900		1,239
Discover Financial Services 4.500% due 01/30/2026	$	4,500		5,044
Fairfax Financial Holdings Ltd. 4.850% due 04/17/2028		4,000		4,569
Ford Motor Credit Co. LLC
3.550% due 10/07/2022		4,300		4,388
3.810% due 01/09/2024		1,000		1,034
FS KKR Capital Corp. 2.625% due 01/15/2027		9,000		9,028
General Motors Financial Co., Inc. 3.950% due 04/13/2024		1,000		1,069
Goldman Sachs Group, Inc. 3.691% due 06/05/2028 •		4,500		4,956
HSBC Holdings PLC
2.099% due 06/04/2026 •		6,000		6,134
4.583% due 06/19/2029 •		3,400		3,862
5.250% due 09/16/2022 •(d)(e)	EUR	400		479
6.000% due 05/22/2027 •(d)(e)	$	1,000		1,099

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

ING Groep NV 4.625% due 01/06/2026		5,200	5,904
Liberty Mutual Group, Inc.
4.125% due 12/15/2051 •		6,700	6,889
4.300% due 02/01/2061		4,000	3,808
Lloyds Banking Group PLC
2.907% due 11/07/2023 •		6,400	6,568
7.500% due 09/27/2025 •(d)(e)		6,000	6,963
Massachusetts Mutual Life Insurance Co. 5.077% due 02/15/2069 •		4,500	5,572
Morgan Stanley 7.500% due 04/02/2032 þ(f)		8,000	6,503
Natwest Group PLC 4.800% due 04/05/2026		2,000	2,275
Ohio National Financial Services, Inc. 5.800% due 01/24/2030		6,300	7,226
Owl Rock Capital Corp. 2.875% due 06/11/2028		9,700	9,689
Piper Jaffray Cos. 4.740% due 10/15/2021		4,000	4,035
Sabra Health Care LP 3.900% due 10/15/2029		4,600	4,851
Santander Holdings USA, Inc. 3.244% due 10/05/2026		2,000	2,138
Santander UK Group Holdings PLC 3.373% due 01/05/2024 •		1,000	1,033
Service Properties Trust 5.000% due 08/15/2022		8,500	8,564
Societe Generale S.A. 7.875% due 12/18/2023 •(d)(e)		700	773
Standard Chartered PLC 7.750% due 04/02/2023 •(d)(e)		200	216
Teachers Insurance & Annuity Association of America 3.300% due 05/15/2050		5,000	5,265
Tesco Property Finance PLC
5.661% due 10/13/2041	GBP	98	172
5.744% due 04/13/2040		614	1,085
5.801% due 10/13/2040		670	1,185
UBS AG
5.125% due 05/15/2024 (e)	$	4,700	5,147
7.625% due 08/17/2022 (e)		14,600	15,471
UBS Group AG 5.750% due 02/19/2022 •(d)(e)	EUR	1,600	1,885
UniCredit SpA 7.830% due 12/04/2023	$	8,500	9,730
VEREIT Operating Partnership LP 4.875% due 06/01/2026		1,000	1,146
Volkswagen Bank GmbH 2.500% due 07/31/2026	EUR	4,000	5,122
Wells Fargo & Co.
3.584% due 05/22/2028 •	$	600	657
4.100% due 06/03/2026		400	446
4.150% due 01/24/2029		1,600	1,819
			352,094
INDUSTRIALS 10.0%
Air Canada 4.625% due 08/15/2029	CAD	900	712
Alaska Airlines Pass-Through Trust 4.800% due 02/15/2029	$	3,226	3,600
American Airlines Pass-Through Trust
3.150% due 08/15/2033		5,512	5,587
3.375% due 11/01/2028		5,473	5,546
3.500% due 08/15/2033		551	532
4.000% due 01/15/2027		1,092	1,062
4.950% due 07/15/2024		911	933
Atlantia SpA 1.875% due 02/12/2028	EUR	400	483
Bacardi Ltd.
4.700% due 05/15/2028	$	1,000	1,156
5.150% due 05/15/2038		2,600	3,211
Bowdoin College 4.693% due 07/01/2112		6,600	8,771
Broadcom, Inc. 3.469% due 04/15/2034		1,000	1,031
Charter Communications Operating LLC 4.908% due 07/23/2025		95	107
Citrix Systems, Inc. 4.500% due 12/01/2027		3,100	3,433
Conagra Brands, Inc. 4.850% due 11/01/2028		100	117
CVS Pass-Through Trust 7.507% due 01/10/2032		5,206	6,557
DAE Funding LLC 5.250% due 11/15/2021		6,200	6,206

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

Dell International LLC
6.020% due 06/15/2026		8,700	10,356
6.100% due 07/15/2027		900	1,113
6.200% due 07/15/2030		1,300	1,665
ELO SACA 3.250% due 07/23/2027	EUR	800	1,061
Energy Transfer LP 4.200% due 04/15/2027	$	300	332
Flex Intermediate Holdco LLC
3.363% due 06/30/2031		2,800	2,843
4.317% due 12/30/2039		2,800	2,899
KB Home 4.000% due 06/15/2031		7,000	7,193
Kinder Morgan, Inc. 7.750% due 01/15/2032		2,200	3,159
Marvell Technology, Inc. 4.875% due 06/22/2028		6,650	7,688
MDC Holdings, Inc. 3.966% due 08/06/2061		8,500	8,156
Nissan Motor Co. Ltd.
3.043% due 09/15/2023		5,950	6,191
4.810% due 09/17/2030		2,300	2,588
Odebrecht Oil & Gas Finance Ltd. 0.000% due 11/01/2021 (b)(d)		46	0
Pacific National Finance Pty. Ltd. 4.750% due 03/22/2028		1,700	1,837
Petroleos Mexicanos 5.500% due 02/24/2025	EUR	13,000	16,487
Prosus NV 3.680% due 01/21/2030	$	5,500	5,710
Rolls-Royce PLC
0.875% due 05/09/2024	EUR	700	807
1.625% due 05/09/2028		100	112
3.375% due 06/18/2026	GBP	100	136
3.625% due 10/14/2025	$	1,800	1,824
4.625% due 02/16/2026	EUR	200	257
5.750% due 10/15/2027	GBP	200	300
Sabine Pass Liquefaction LLC
5.750% due 05/15/2024	$	8,300	9,247
6.250% due 03/15/2022		5,400	5,462
Tennessee Gas Pipeline Co. LLC 2.900% due 03/01/2030		3,800	3,932
Teva Pharmaceutical Finance Netherlands BV 1.250% due 03/31/2023	EUR	1,125	1,284
Turkish Airlines Pass-Through Trust 4.200% due 09/15/2028	$	3,654	3,441
Westinghouse Air Brake Technologies Corp. 4.400% due 03/15/2024		2,500	2,688
Yara International ASA 3.148% due 06/04/2030		2,000	2,111
			159,923
UTILITIES 2.1%
AT&T, Inc.
3.650% due 06/01/2051		10,000	10,211
5.500% due 03/15/2027	GBP	4,600	7,458
IPALCO Enterprises, Inc. 4.250% due 05/01/2030	$	2,600	2,921
Odebrecht Drilling Norbe Ltd. (6.350% Cash and 1.000% PIK) 7.350% due 12/01/2026 ^(a)		99	55
Pacific Gas & Electric Co.
3.150% due 01/01/2026		3,200	3,308
3.400% due 08/15/2024 ^		1,000	1,038
3.450% due 07/01/2025		1,300	1,358
3.500% due 06/15/2025 ^		1,100	1,148
4.500% due 07/01/2040		1,500	1,533
4.550% due 07/01/2030		1,300	1,407
4.750% due 02/15/2044 ^		3,000	3,061
			33,498
Total Corporate Bonds & Notes (Cost $522,827)			545,515
MUNICIPAL BONDS & NOTES 4.3%
CALIFORNIA 0.6%
Newport Beach, California Certificates of Participation Bonds, (BABs), Series 2010 7.168% due 07/01/2040		3,500	5,285

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

Regents of the University of California Medical Center Pooled Revenue Bonds, Series 2020 3.706% due 05/15/2120	4,800	5,143
		10,428
ILLINOIS 0.1%
Chicago, Illinois Waterworks Revenue Bonds, Series 2010 6.642% due 11/01/2029	1,100	1,344
NEW JERSEY 0.4%
Rutgers The State University of New Jersey Revenue Bonds, Series 2019 3.915% due 05/01/2119	5,800	6,553
NEW YORK 0.9%
New York City Transitional Finance Authority Future Tax Secured, New York Revenue Bonds, Series 2018 3.960% due 08/01/2032	4,420	4,966
Port Authority of New York & New Jersey Revenue Bonds, Series 2019 3.287% due 08/01/2069	8,000	8,717
		13,683
OHIO 0.1%
American Municipal Power, Inc., Ohio Revenue Bonds, Series 2010 7.734% due 02/15/2033	900	1,334
PENNSYLVANIA 0.7%
Pennsylvania Economic Development Financing Authority Revenue Bonds, (BABs), Series 2010 6.532% due 06/15/2039	600	855
State Public School Building Authority, Pennsylvania Revenue Bonds, Series 2011 5.426% due 09/15/2026	8,500	10,098
		10,953
TEXAS 0.0%
Texas Public Finance Authority Revenue Notes, Series 2014 8.250% due 07/01/2024	430	434
VIRGINIA 1.5%
Tobacco Settlement Financing Corp., Virginia Revenue Bonds, Series 2007 6.706% due 06/01/2046	17,910	18,708
University of Virginia Revenue Bonds, Series 2019 3.227% due 09/01/2119	5,600	5,644
		24,352
Total Municipal Bonds & Notes (Cost $59,674)		69,081
U.S. GOVERNMENT AGENCIES 22.8%
Fannie Mae
1.943% due 12/01/2034 •	28	29
1.965% due 09/01/2032 •	6	6
1.973% due 11/01/2032 •	5	5
2.045% due 05/01/2028 •	1	1
2.123% due 10/01/2032 •	1	1
2.220% due 09/01/2027 •	21	21
2.251% due 05/01/2033 •	25	25
2.300% due 10/01/2034 •	36	36
2.315% due 01/01/2033 •	13	13
4.151% due 05/25/2042 ~	8	9
4.192% due 03/25/2041 ~	7	8
6.500% due 07/18/2027	10	11
Freddie Mac
0.534% due 08/15/2029 - 12/15/2031 •	13	13
0.584% due 09/15/2030 •	2	3
0.634% due 03/15/2032 •	3	3
0.734% due 02/15/2024 •	126	125
1.234% due 09/15/2022 •	1	2
1.434% due 08/15/2023 •	1	1
2.125% due 08/01/2029 •	1	1
2.249% due 02/01/2033 •	13	14
2.375% due 01/01/2032 - 10/01/2032 •	25	25
2.455% due 08/01/2032 •	17	17
2.462% due 02/01/2029 •	13	13
2.625% due 10/01/2032 •	43	43
4.000% due 11/01/2047	14	15
6.000% due 12/15/2028	93	105
6.500% due 12/15/2023	1	1
7.000% due 04/01/2029 - 03/01/2030	6	7
7.500% due 08/15/2030	19	22
Ginnie Mae
1.875% (H15T1Y + 1.500%) due 04/20/2022 - 06/20/2026 ~	15	15
1.875% due 04/20/2027 - 06/20/2032 •	22	24
2.000% (H15T1Y + 1.500%) due 01/20/2022 - 01/20/2026 ~	7	7

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

2.000% due 01/20/2027 - 03/20/2032 •	51	52
2.125% (H15T1Y + 1.500%) due 11/20/2023 - 10/20/2026 ~	11	11
2.125% due 10/20/2027 •	3	3
2.250% (H15T1Y + 1.500%) due 08/20/2025 - 08/20/2026 ~	4	4
2.250% due 07/20/2027 - 07/20/2029 •	22	21
2.375% (H15T1Y + 2.000%) due 06/20/2022 ~	1	1
3.000% (H15T1Y + 1.500%) due 08/20/2025 ~	10	10
Ginnie Mae, TBA 2.500% due 11/01/2051 - 12/01/2051	350,900	361,280
Uniform Mortgage-Backed Security
3.000% due 01/01/2046	111	118
3.500% due 05/01/2047	160	170
4.000% due 12/01/2044 - 03/01/2049	34	36
6.000% due 09/01/2022 - 12/01/2023	14	14
6.500% due 12/01/2028	1	1
Uniform Mortgage-Backed Security, TBA 2.000% due 12/01/2036	1,100	1,130
Vendee Mortgage Trust 6.500% due 09/15/2024	104	112
Total U.S. Government Agencies (Cost $364,547)		363,584
U.S. TREASURY OBLIGATIONS 27.8%
U.S. Treasury Notes
0.625% due 08/15/2030 (h)	127,800	118,921
0.875% due 11/15/2030 (h)(j)(l)	15,000	14,239
1.125% due 02/29/2028 (h)(j)	77,200	76,733
1.125% due 08/31/2028 (h)	59,000	58,313
1.125% due 02/15/2031 (h)	49,500	47,953
1.250% due 03/31/2028 (h)(j)	127,700	127,735
Total U.S. Treasury Obligations (Cost $451,794)		443,894
NON-AGENCY MORTGAGE-BACKED SECURITIES 18.4%
Adjustable Rate Mortgage Trust
2.568% due 01/25/2036 ^~	22	21
2.644% due 11/25/2035 ^~	85	75
3.041% due 02/25/2036 ^~	105	85
American Home Mortgage Assets Trust
0.296% due 10/25/2046 •	413	268
0.466% due 09/25/2046 ^•	447	438
1.012% due 11/25/2046 •	517	215
Banc of America Alternative Loan Trust 6.000% due 07/25/2046 ^	97	94
Banc of America Funding Trust
0.224% due 08/27/2036 ~	7,786	7,439
0.296% due 04/25/2037 ^•	82	79
0.467% due 10/20/2036 •	97	82
0.486% due 05/25/2037 ^•	75	70
0.687% due 05/20/2047 •	40	41
2.606% due 02/20/2036 ~	157	159
2.667% due 04/20/2035 ^~	80	78
2.829% due 09/20/2047 ^~	87	78
2.916% due 09/20/2046 ^~	47	45
5.500% due 03/25/2036 ^	10	9
5.831% due 04/25/2037 ~	526	531
Banc of America Mortgage Trust
2.465% due 02/25/2034 ~	93	95
2.685% due 07/25/2035 ^~	9	9
2.876% due 05/25/2035 ^~	300	304
5.500% due 09/25/2035 ^	195	192
5.500% due 05/25/2037 ^	92	83
BCAP LLC Trust
0.386% due 05/25/2047 ^•	43	44
0.488% due 07/26/2036 ~	7	7
0.526% due 05/25/2047 ^•	275	290
0.939% due 11/26/2046 •	12	12
1.286% due 10/25/2047 •	12,132	11,476
1.386% due 09/25/2047 •	69	69
3.039% due 07/26/2036 ~	27	27
3.108% due 03/26/2037 ~	67	59
3.114% due 07/26/2036 ~	19	18
3.299% due 03/27/2037 ~	285	252
Bear Stearns Adjustable Rate Mortgage Trust
2.210% due 06/25/2035 ^~	9	9
2.234% due 12/25/2046 ^•	488	440
2.380% due 10/25/2035 •	234	240
2.536% due 01/25/2034 ~	42	44
2.546% due 05/25/2034 ~	24	24
2.663% due 02/25/2034 ~	40	41
2.699% due 10/25/2035 ~	36	37
2.867% due 01/25/2035 ~	8	8
2.890% due 03/25/2035 ~	39	39
2.981% due 11/25/2034 ~	46	46
3.105% due 02/25/2036 ^~	56	56
3.151% due 05/25/2047 ^~	131	131

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

3.315% due 08/25/2035 ~		10	10
Bear Stearns ALT-A Trust
0.526% due 04/25/2036 ^•		96	126
2.622% due 05/25/2035 ~		56	57
2.675% due 06/25/2034 ~		1,457	1,341
2.829% due 02/25/2036 ^~		26	26
2.943% due 01/25/2036 ~		3,624	3,558
2.963% due 02/25/2036 ^~		277	234
3.094% due 08/25/2036 ^~		281	240
3.169% due 05/25/2036 ^~		394	259
3.253% due 11/25/2036 ^~		87	59
4.353% due 07/25/2035 ^~		436	372
Bear Stearns Mortgage Funding Trust 0.276% due 01/25/2037 •		64	60
Bear Stearns Mortgage Securities, Inc. 6.310% due 03/25/2031 ~		1	1
Bear Stearns Structured Products, Inc. Trust 2.708% due 01/26/2036 ^~		488	414
Benchmark Mortgage Trust 2.952% due 08/15/2057		4,565	4,883
Bruegel DAC 0.800% due 05/22/2031 •	EUR	5,600	6,505
Cascade Funding Mortgage Trust 2.800% due 06/25/2069 ~	$	2,744	2,787
Chase Mortgage Finance Trust
2.739% due 09/25/2036 ^~		835	759
3.068% due 03/25/2037 ^~		48	49
3.134% due 03/25/2037 ^~		26	27
6.000% due 05/25/2037 ^		107	72
ChaseFlex Trust
0.386% due 07/25/2037 •		150	140
5.000% due 07/25/2037 ^		77	55
ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates Trust 4.139% due 08/25/2037 ^þ		29	28
Chevy Chase Funding LLC Mortgage-Backed Certificates 0.316% due 10/25/2035 •		949	955
Citigroup Mortgage Loan Trust
0.526% due 01/25/2037 •		2,132	2,021
1.984% due 09/25/2037 ~		47	48
2.470% due 10/25/2035 •		58	59
2.520% due 11/25/2035 •		23	24
2.579% due 10/25/2046 ^~		129	128
2.754% due 08/25/2035 ~		10	11
2.984% due 07/25/2037 ^~		552	536
3.108% due 03/25/2037 ^~		46	44
3.124% due 09/25/2037 ^~		299	298
3.228% due 09/25/2059 þ		6,854	6,868
3.258% due 04/25/2066 ~		153	155
5.500% due 12/25/2035		129	92
6.250% due 11/25/2037 ~		101	65
Citigroup Mortgage Loan Trust, Inc.
2.662% due 08/25/2035 ~		448	475
2.913% due 12/25/2035 ^~		87	61
CitiMortgage Alternative Loan Trust
6.000% due 06/25/2037 ^		5,759	5,797
6.000% due 06/25/2037		3,596	3,619
6.500% due 06/25/2037 ^		98	100
Community Program Loan Trust 4.500% due 04/01/2029		34	34
Countrywide Alternative Loan Resecuritization Trust
6.000% due 08/25/2037 ^~		54	39
7.585% due 08/25/2037 ^~		52	34
Countrywide Alternative Loan Trust
0.266% due 05/25/2047 •		848	817
0.267% due 02/20/2047 ^•		1,041	818
0.297% due 07/20/2046 ^•		34	27
0.346% due 12/25/2035 •		577	569
0.366% due 08/25/2037 •		453	449
0.396% due 08/25/2035 ^•		123	112
0.426% due 11/25/2036 «•		2	0
0.426% due 01/25/2037 ^•		0	2
0.436% due 11/25/2036 •		4,878	4,843
0.446% due 11/25/2036 •		51	57
0.466% due 07/25/2046 ^•		60	58
0.466% due 09/25/2046 ^•		275	271
0.526% due 05/25/2035 •		1,093	1,044
0.586% due 05/25/2035 ^•		1,890	1,747
0.586% due 06/25/2035 •		86	81
0.606% due 07/25/2035 •		86	86
0.706% due 10/25/2035 •		25	21
1.092% due 02/25/2036 •		335	321
1.342% due 11/25/2047 ^•		645	593
1.382% due 11/20/2035 •		5,986	5,649
1.472% due 11/25/2047 ^•		1,790	1,659
1.546% due 11/25/2035 •		794	791
2.903% due 11/25/2035 ^~		67	66

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

3.023% due 05/25/2036 ~		18	15
3.069% due 08/25/2035 ~		142	141
3.274% due 06/25/2037 ^~		94	87
5.500% due 11/25/2035		88	70
5.500% due 02/25/2036 ^		56	44
5.750% due 03/25/2037 ^•		100	77
5.750% due 07/25/2037 ^		16	13
5.750% due 04/25/2047 ^		109	90
6.000% due 12/25/2034		54	54
6.000% due 03/25/2036 ^		171	115
6.000% due 08/25/2036 ^•		54	43
6.000% due 08/25/2036 ^		526	419
6.000% due 02/25/2037 ^		433	273
6.000% due 04/25/2037 ^		69	52
6.000% due 04/25/2037		9,235	9,278
6.000% due 05/25/2037 ^		352	224
6.000% due 08/25/2037 ^•		367	262
6.250% due 11/25/2036 ^		72	66
6.500% due 05/25/2036 ^		1,400	982
6.500% due 12/25/2036 ^		64	41
6.500% due 08/25/2037 ^		355	213
19.564% due 07/25/2035 •		32	37
Countrywide Home Loan Mortgage Pass-Through Trust
0.546% due 05/25/2035 •		59	52
0.626% due 02/25/2035 •		10	10
0.706% due 03/25/2035 •		192	188
0.766% due 03/25/2036 •		126	82
0.826% due 02/25/2035 •		235	223
0.866% due 02/25/2035 •		199	189
1.985% due 02/20/2036 ^•		18	16
2.166% due 10/20/2035 ~		8	8
2.193% due 08/25/2034 ^~		28	27
2.402% due 08/25/2034 ~		2,631	2,726
2.462% due 06/25/2034 ~		525	537
2.518% due 04/25/2035 ^~		29	4
2.802% due 11/25/2034 ~		47	47
2.815% due 01/25/2036 ^~		45	44
2.875% due 05/20/2036 ^~		102	107
3.066% due 11/25/2037 ~		111	107
3.117% due 05/20/2036 ~		39	39
3.398% due 02/20/2036 ~		158	161
5.500% due 07/25/2037 ^		278	186
5.750% due 12/25/2035 ^		70	50
6.000% due 02/25/2037 ^		266	202
6.000% due 03/25/2037 ^		96	67
6.000% due 07/25/2037		172	109
6.500% due 11/25/2036 ^		708	439
Countrywide Home Loan Reperforming REMIC Trust 6.000% due 03/25/2035 ^		51	52
Credit Suisse First Boston Mortgage Securities Corp.
0.699% due 03/25/2032 ~		11	11
1.236% due 09/25/2034 ^•		48	53
Credit Suisse Mortgage Capital Certificates
2.402% due 04/26/2038 ~		243	245
3.285% due 04/28/2037 ~		224	230
Credit Suisse Mortgage Capital Trust 1.796% due 12/27/2060 ~		4,268	4,285
Deephaven Residential Mortgage Trust 0.899% due 04/25/2066 ~		5,944	5,949
Deutsche ALT-A Securities, Inc. 0.386% due 04/25/2037 •		242	173
Deutsche ALT-A Securities, Inc. Mortgage Loan Trust
0.276% due 08/25/2047 •		246	240
0.406% due 01/25/2047 •		18	21
Deutsche Mortgage & Asset Receiving Corp. 0.530% due 11/27/2036 •		133	133
Downey Savings & Loan Association Mortgage Loan Trust 0.727% due 07/19/2045 ^•		5	1
Eurosail PLC 1.017% due 06/13/2045 •	GBP	2,966	3,995
First Horizon Alternative Mortgage Securities Trust
2.354% due 04/25/2036 ^~	$	76	72
2.762% due 01/25/2036 ^~		155	103
First Horizon Mortgage Pass-Through Trust 3.085% due 11/25/2037 ^~		36	35
GMAC Mortgage Corp. Loan Trust 3.140% due 11/19/2035 ^~		90	90
GreenPoint Mortgage Funding Trust
0.286% due 12/25/2046 ^•		249	243
0.486% due 05/25/2037 •		2,251	2,267
GS Mortgage Securities Trust 3.722% due 10/10/2049 ~		5,000	4,942
GSC Capital Corp. Mortgage Trust 0.446% due 05/25/2036 ^•		83	83
GSR Mortgage Loan Trust
2.417% due 11/25/2035 ~		97	67

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

2.623% due 04/25/2035 ~	20	20
2.798% due 09/25/2035 ~	34	34
2.859% due 09/25/2035 ~	111	114
2.922% due 04/25/2035 ~	34	34
2.951% due 09/25/2034 ~	47	49
HarborView Mortgage Loan Trust
0.277% due 01/19/2038 •	32	31
0.292% due 12/19/2036 •	5,593	5,309
0.327% due 12/19/2036 ^•	3,676	3,657
0.337% due 01/19/2038 ^•	26	27
0.527% due 05/19/2035 •	1,615	1,564
0.587% due 01/19/2036 •	99	71
0.719% due 07/19/2045 •	31	31
0.767% due 01/19/2035 •	26	26
2.482% due 12/19/2035 ^~	37	36
2.871% due 12/19/2035 ^~	86	58
3.566% due 06/19/2036 ^~	155	100
HomeBanc Mortgage Trust 0.446% due 12/25/2036 •	27	27
Impac Secured Assets Trust 0.386% due 11/25/2036 •	289	278
IndyMac Mortgage Loan Trust
0.276% due 09/25/2046 •	99	94
0.446% due 07/25/2047 •	234	187
0.646% due 03/25/2035 •	55	54
0.686% due 11/25/2035 ^•	146	102
2.627% due 06/25/2037 ^~	69	65
2.756% due 10/25/2035 ~	571	545
2.801% due 11/25/2035 ^~	100	98
2.886% due 08/25/2036 ~	1,742	1,652
2.912% due 09/25/2035 ^~	62	60
2.948% due 06/25/2036 ~	810	813
2.965% due 06/25/2036 ~	4,134	3,496
2.980% due 08/25/2035 ~	656	610
3.068% due 06/25/2035 ^~	25	25
JP Morgan Alternative Loan Trust
0.406% due 10/25/2036 •	3,963	3,952
0.588% due 06/27/2037 •	1,970	1,558
2.705% due 12/25/2036 ~	8	8
JP Morgan Mortgage Trust
1.000% due 11/25/2051 «	12,000	12,297
2.286% due 09/25/2034 ~	98	101
2.372% due 04/25/2035 ~	9	9
2.504% due 07/25/2035 ~	187	193
2.696% due 04/25/2035 ~	4	4
2.752% due 06/25/2037 ^~	90	76
2.765% due 07/25/2035 ~	126	131
2.803% due 01/25/2037 ^~	11	10
2.821% due 11/25/2035 ^~	59	55
2.838% due 11/25/2035 ^~	39	38
6.000% due 01/25/2036 ^	106	74
Lavender Trust 6.250% due 10/26/2036	231	161
Legacy Mortgage Asset Trust
1.750% due 07/25/2061 þ	2,292	2,296
1.875% due 10/25/2068 þ	8,700	8,721
3.000% due 06/25/2059 þ	2,459	2,469
Lehman Mortgage Trust
4.949% due 12/25/2035 ~	174	53
5.080% due 01/25/2036 ^~	70	73
6.000% due 07/25/2036 ^	63	44
Lehman XS Trust
0.356% due 02/25/2036 •	5,031	4,953
0.466% due 11/25/2046 •	10,543	10,207
0.486% due 08/25/2046 ^•	41	41
0.546% due 04/25/2046 ^•	19	21
0.566% due 11/25/2046 ^•	10	10
Luminent Mortgage Trust
0.256% due 12/25/2036 •	548	520
0.486% due 10/25/2046 •	142	138
MASTR Adjustable Rate Mortgages Trust 0.566% due 05/25/2037 •	99	56
MASTR Reperforming Loan Trust
7.000% due 05/25/2035	831	752
8.000% due 07/25/2035	791	766
Mellon Residential Funding Corp. Mortgage Pass-Through Trust 2.610% due 10/20/2029 •	24	25
Merrill Lynch Alternative Note Asset Trust
0.406% due 01/25/2037 •	118	49
0.686% due 03/25/2037 •	835	310
6.000% due 05/25/2037 ^	142	137
Merrill Lynch Mortgage Investors Trust
0.546% due 04/25/2029 •	19	19
0.746% due 09/25/2029 •	18	18
0.746% due 11/25/2029 •	39	38
1.159% due 07/25/2029 •	20	20

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

2.013% due 02/25/2036 ~		26	28
2.595% due 11/25/2035 •		39	40
6.250% due 10/25/2036		1,419	894
Morgan Stanley Capital Trust 2.509% due 04/05/2042 ~		5,000	5,123
Morgan Stanley Dean Witter Capital, Inc. Trust 1.569% due 03/25/2033 ~		38	39
Morgan Stanley Mortgage Loan Trust
0.406% due 01/25/2035 •		21	21
2.210% due 06/25/2036 ~		35	38
2.565% due 07/25/2035 ~		1,606	1,560
6.000% due 10/25/2037 ^		70	54
Morgan Stanley Re-REMIC Trust
0.648% due 02/26/2037 •		136	131
1.052% due 03/26/2037 þ		74	75
5.500% due 10/26/2035 ~		7,197	6,216
NAAC Reperforming Loan REMIC Trust 7.500% due 03/25/2034 ^		354	366
Nomura Asset Acceptance Corp. Alternative Loan Trust 2.240% due 02/25/2036 ^~		340	303
Nomura Resecuritization Trust 6.500% due 10/26/2037		5,569	3,881
RBSSP Resecuritization Trust 0.334% due 02/26/2037 •		195	196
Residential Accredit Loans, Inc. Trust
0.336% due 08/25/2037 •		202	193
0.386% due 08/25/2035 •		94	81
0.426% due 12/25/2036 •		240	244
0.486% due 05/25/2047 •		81	79
0.506% due 06/25/2037 •		75	74
0.886% due 10/25/2045 •		74	64
3.542% due 02/25/2035 ^~		181	163
5.073% due 02/25/2036 ^~		99	87
6.000% due 09/25/2035		844	831
6.000% due 06/25/2036		3,434	3,299
8.000% due 04/25/2036 ^•		88	84
Residential Asset Securitization Trust
6.000% due 06/25/2036		172	103
6.000% due 11/25/2036 ^		124	66
6.000% due 03/25/2037 ^		102	56
6.250% due 11/25/2036 ^		85	47
6.500% due 04/25/2037 ^		1,134	482
Residential Funding Mortgage Securities, Inc. Trust
3.619% due 03/25/2035 ^~		961	625
6.000% due 09/25/2036 ^		138	131
Stratton Mortgage Funding PLC 0.950% due 07/20/2060 •	GBP	16,036	21,732
Structured Adjustable Rate Mortgage Loan Trust
0.406% due 10/25/2035 •	$	847	849
0.821% due 06/25/2034 •		325	316
1.492% due 05/25/2035 ^•		271	229
2.684% due 10/25/2034 ~		21	22
2.964% due 02/25/2036 ^~		207	194
2.964% due 10/25/2036 ^~		97	71
3.085% due 09/25/2036 ^~		2,258	1,975
3.189% due 07/25/2037 ^~		4	3
Structured Asset Mortgage Investments Trust
0.266% due 09/25/2047 •		49	50
0.276% due 09/25/2047 •		681	658
0.296% due 09/25/2047 ^•		991	1,103
0.346% due 03/25/2037 •		86	34
0.466% due 06/25/2036 •		3,567	3,550
0.466% due 07/25/2046 ^•		373	327
0.486% due 05/25/2036 •		557	548
0.526% due 05/25/2046 •		838	428
0.606% due 05/25/2046 ^•		5	2
0.787% due 03/19/2034 •		179	180
0.787% due 02/19/2035 •		91	91
0.827% due 12/19/2033 •		197	201
1.979% due 02/25/2036 ^•		451	449
SunTrust Adjustable Rate Mortgage Loan Trust 2.229% due 02/25/2037 ^~		132	124
SunTrust Alternative Loan Trust 6.000% due 12/25/2035		280	279
TBW Mortgage-Backed Trust 5.965% due 07/25/2037 ~		3,231	1,517
Thornburg Mortgage Securities Trust
0.726% due 09/25/2043 •		134	138
0.826% due 09/25/2034 •		21	21
1.984% due 09/25/2037 ~		32	33
Towd Point Mortgage Funding 1.250% due 02/20/2054 •	GBP	12,653	17,137
Wachovia Mortgage Loan Trust LLC 2.394% due 10/20/2035 ~	$	25	19
WaMu Mortgage Pass-Through Certificates Trust
0.626% due 12/25/2045 •		4	4

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

0.726% due 01/25/2045 •		131	131
0.792% due 02/25/2047 ^•		1,451	1,400
0.826% due 11/25/2034 •		126	122
0.842% due 06/25/2047 ^•		39	33
0.866% due 10/25/2044 •		579	574
0.902% due 07/25/2047 •		11,345	10,343
0.906% due 11/25/2045 •		135	133
1.066% due 11/25/2034 •		346	336
1.092% due 08/25/2046 •		795	799
1.292% due 11/25/2042 •		14	14
1.763% due 11/25/2046 •		170	168
2.668% due 08/25/2033 ~		143	149
2.909% due 08/25/2036 ^~		79	76
2.993% due 12/25/2036 ^~		813	821
3.114% due 12/25/2036 ^~		91	90
Washington Mutual Mortgage Pass-Through Certificates Trust
0.536% due 05/25/2035 ^•		279	238
0.792% due 04/25/2047 •		287	256
0.862% due 04/25/2047 •		419	376
4.149% due 09/25/2036 ^þ		135	55
Wells Fargo Alternative Loan Trust 2.573% due 07/25/2037 ^~		40	37
Wells Fargo Mortgage-Backed Securities Trust
2.534% due 10/25/2036 ^~		209	206
6.000% due 06/25/2037 ^		41	41
Total Non-Agency Mortgage-Backed Securities (Cost $286,357)			292,997
ASSET-BACKED SECURITIES 35.6%
Aames Mortgage Investment Trust
0.866% due 10/25/2035 •		191	191
1.286% due 06/25/2035 •		605	607
AASET Trust 3.967% due 05/16/2042		1,104	1,014
AASET U.S. Ltd. 3.844% due 01/16/2038		1,706	1,681
Accredited Mortgage Loan Trust
0.346% due 09/25/2036 •		5,812	5,756
0.566% due 09/25/2035 •		185	185
ACE Securities Corp. Home Equity Loan Trust
0.196% due 12/25/2036 •		313	114
0.241% due 08/25/2036 •		443	436
0.366% due 07/25/2036 •		131	122
0.686% due 02/25/2036 •		68	68
0.701% due 12/25/2035 •		2,000	1,978
0.746% due 11/25/2035 •		79	79
0.986% due 12/25/2034 •		123	122
1.016% due 02/25/2036 ^•		96	95
1.061% due 06/25/2034 •		415	414
1.061% due 07/25/2035 •		49	49
Aegis Asset-Backed Securities Trust
0.731% due 12/25/2035 •		200	198
0.786% due 03/25/2035 •		255	255
0.806% due 06/25/2035 •		200	196
1.086% due 03/25/2035 ^•		68	67
Ameriquest Mortgage Securities Trust 0.671% due 03/25/2036 •		163	162
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates
0.761% due 07/25/2035 •		30	30
0.791% due 11/25/2035 •		124	124
0.866% due 09/25/2035 •		10,000	10,009
1.196% due 03/25/2035 •		200	201
Amortizing Residential Collateral Trust 1.086% due 10/25/2034 •		94	94
Argent Securities Trust
0.236% due 09/25/2036 •		808	351
0.466% due 03/25/2036 •		308	210
Argent Securities, Inc. Asset-Backed Pass-Through Certificates
0.546% due 01/25/2036 •		86	84
0.726% due 01/25/2036 •		3,472	3,400
Asset-Backed Funding Certificates Trust
0.196% due 01/25/2037 •		388	271
0.246% due 01/25/2037 •		245	172
0.306% due 01/25/2037 •		147	104
0.366% due 11/25/2036 •		9,798	7,338
1.086% due 06/25/2037 •		171	162
Asset-Backed Securities Corp. Home Equity Loan Trust
0.306% due 12/25/2036 •		6,300	5,863
0.761% due 11/25/2035 •		82	82
0.986% due 06/25/2035 •		161	162
1.961% due 09/25/2034 •		1,433	1,479
3.084% due 08/15/2033 •		10	10
Aurium CLO DAC 0.670% due 04/16/2030 •	EUR	5,297	6,139
Babson Euro CLO DAC 0.271% due 10/25/2029 •		625	724

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

Basic Asset-Backed Securities Trust 0.706% due 04/25/2036 •	$	37	37
Bear Stearns Asset-Backed Securities Trust
0.286% due 12/25/2036 •		76	76
0.316% due 02/25/2037 •		11,884	11,435
0.386% due 06/25/2036 •		22	22
0.426% due 05/25/2036 ^•		36	36
0.626% due 06/25/2036 •		114	114
0.731% due 12/25/2035 •		166	166
0.761% due 08/25/2036 •		141	141
0.821% due 09/25/2035 •		5,008	5,005
0.886% due 09/25/2046 •		106	104
0.911% due 06/25/2036 •		97	97
0.986% due 03/25/2034 •		2,242	2,250
1.046% due 04/25/2035 •		21	21
1.136% due 11/25/2035 ^•		111	110
1.136% due 08/25/2037 •		5,787	5,596
1.266% due 06/25/2043 •		879	877
1.286% due 06/25/2036 •		600	601
1.336% due 08/25/2037 •		53	54
2.693% due 07/25/2036 ~		162	162
2.741% due 10/25/2036 ~		37	25
23.210% due 03/25/2036 ^•		183	152
Carlyle Euro CLO DAC 0.630% due 08/15/2030 •	EUR	1,100	1,275
Carrington Mortgage Loan Trust
0.306% due 01/25/2037 •	$	1,200	1,005
0.346% due 02/25/2037 •		4,898	4,825
1.136% due 05/25/2035 •		300	301
Catamaran CLO Ltd. 1.479% due 01/27/2028 •		400	399
Cendant Mortgage Corp. 6.000% due 07/25/2043 ~		13	13
CIT Mortgage Loan Trust 1.586% due 10/25/2037 •		6,000	6,128
Citigroup Mortgage Loan Trust
0.226% due 12/25/2036 •		125	125
0.256% due 05/25/2037 •		14,016	12,992
0.476% due 01/25/2037 •		113	113
0.486% due 11/25/2046 •		142	140
0.536% due 11/25/2045 •		54	54
6.851% due 05/25/2036 ^þ		141	70
Citigroup Mortgage Loan Trust, Inc.
0.821% due 09/25/2035 ^•		863	865
1.766% due 07/25/2035 •		1,000	1,012
CLNC Ltd. 1.414% due 08/20/2035 •		14,800	14,814
Conseco Finance Corp.
6.870% due 04/01/2030 ~		17	17
7.060% due 02/01/2031 ~		408	399
Countrywide Asset-Backed Certificates
0.226% due 06/25/2035 •		8,909	8,480
0.226% due 07/25/2037 ^•		1,602	1,579
0.236% due 01/25/2037 •		2,154	2,142
0.236% due 05/25/2037 •		36	36
0.246% due 03/25/2037 •		39	39
0.266% due 06/25/2047 •		31	31
0.286% due 09/25/2037 •		3,629	3,421
0.286% due 06/25/2047 ^•		13,887	13,098
0.306% due 09/25/2037 ^•		370	381
0.306% due 09/25/2047 ^•		997	970
0.316% due 10/25/2047 •		195	194
0.336% due 01/25/2046 ^•		4,344	4,254
0.336% due 06/25/2047 •		243	238
0.406% due 05/25/2036 •		199	211
0.426% due 03/25/2037 •		298	298
0.486% due 08/25/2036 •		2,390	2,384
0.536% due 03/25/2036 •		1,400	1,391
0.586% due 03/25/2036 •		2,722	2,730
0.686% due 06/25/2036 •		198	197
0.686% due 07/25/2036 •		9	9
0.821% due 02/25/2036 •		66	66
0.986% due 03/25/2047 ^•		66	59
1.076% due 12/25/2035 •		13	13
1.136% due 08/25/2035 •		7	7
1.586% due 02/25/2035 •		251	252
4.453% due 10/25/2046 ^~		14,075	14,091
Countrywide Asset-Backed Certificates Trust
0.226% due 02/25/2037 •		7,154	6,946
0.236% due 09/25/2046 •		2,137	2,119
0.236% due 03/25/2047 ^•		93	92
0.276% due 06/25/2047 •		36	36
0.346% due 04/25/2046 •		4,214	4,042
0.546% due 05/25/2036 •		196	195
0.881% due 02/25/2036 •		89	90
1.181% due 07/25/2035 •		1,071	1,075

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

1.436% due 04/25/2035 •		168	169
Countrywide Asset-Backed Certificates Trust, Inc.
0.806% due 07/25/2034 •		80	80
0.886% due 08/25/2047 •		611	610
0.986% due 10/25/2034 •		50	50
Countrywide Asset-Backed Certificates, Inc. 1.061% due 02/25/2034 •		51	51
Credit-Based Asset Servicing & Securitization LLC
0.212% due 07/25/2037 •		10	8
0.312% due 07/25/2037 •		216	176
Delta Funding Home Equity Loan Trust 0.724% due 08/15/2030 •		39	37
Dryden Euro CLO BV 0.660% due 04/15/2033 •	EUR	10,100	11,647
ECMC Group Student Loan Trust 0.836% due 02/27/2068 •	$	6,106	6,093
EMC Mortgage Loan Trust 0.826% due 05/25/2040 •		9	9
First Franklin Mortgage Loan Trust
0.366% due 12/25/2036 •		244	140
0.406% due 04/25/2036 •		141	139
0.566% due 04/25/2036 •		400	370
0.566% due 08/25/2036 •		150	148
0.761% due 06/25/2036 •		18	18
0.806% due 10/25/2035 •		42	42
0.806% due 11/25/2035 •		130	128
0.956% due 09/25/2034 •		73	73
1.031% due 03/25/2035 •		87	87
1.271% due 12/25/2034 •		886	890
1.286% due 01/25/2035 •		122	123
1.511% due 10/25/2034 •		444	448
First NLC Trust
0.156% due 08/25/2037 •		50	33
0.546% due 05/25/2035 •		811	784
FIRSTPLUS Home Loan Owner Trust 7.320% due 11/10/2023 ^		6	0
Fremont Home Loan Trust
0.236% due 01/25/2037 •		238	138
0.246% due 08/25/2036 •		201	89
0.426% due 02/25/2036 •		47	46
0.426% due 02/25/2037 •		773	393
0.626% due 02/25/2036 •		300	284
0.626% due 04/25/2036 •		3,000	2,833
0.821% due 07/25/2035 •		1,253	1,251
0.876% due 12/25/2029 •		6	6
Galaxy CLO Ltd. 1.096% due 10/15/2030 •		3,200	3,204
Gallatin CLO Ltd. 1.426% (US0003M + 1.050%) due 07/15/2027 ~		5,476	5,495
GE-WMC Asset-Backed Pass-Through Certificates 0.586% due 12/25/2035 •		238	238
GSAA Home Equity Trust 0.326% due 04/25/2047 •		107	104
GSAMP Trust
0.176% due 01/25/2037 •		2,467	1,812
0.206% due 12/25/2036 •		1,769	1,102
0.226% due 12/25/2036 •		7,577	4,923
0.226% due 01/25/2037 •		44,598	33,210
0.236% due 09/25/2036 •		3,040	1,531
0.236% due 12/25/2046 •		529	364
0.286% due 11/25/2036 •		460	287
0.316% due 12/25/2046 •		159	111
0.406% due 05/25/2046 •		10	10
0.566% due 06/25/2036 •		229	166
0.626% due 04/25/2036 •		284	229
1.736% due 10/25/2034 •		15	15
Home Equity Asset Trust 1.181% due 05/25/2035 •		119	119
Home Equity Loan Trust
0.316% due 04/25/2037 •		917	893
0.426% due 04/25/2037 •		500	442
Home Equity Mortgage Loan Asset-Backed Trust
0.226% due 11/25/2036 •		335	319
0.246% due 11/25/2036 •		291	279
0.406% due 04/25/2037 •		259	245
HSI Asset Securitization Corp. Trust
0.304% due 12/25/2036 •		212	82
0.424% due 12/25/2036 •		967	374
0.524% due 12/25/2036 •		645	253
0.866% due 11/25/2035 •		3,991	3,985
Invesco Euro CLO DAC 0.650% due 07/15/2031 •	EUR	900	1,038
IXIS Real Estate Capital Trust 0.716% due 02/25/2036 •	$	85	87
JP Morgan Mortgage Acquisition Trust
0.346% due 03/25/2037 •		208	206

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

0.346% due 06/25/2037 •		164	163
0.356% due 07/25/2036 •		200	197
0.366% due 01/25/2037 •		1,214	1,211
0.491% due 05/25/2036 •		205	206
0.626% due 04/25/2036 •		59	59
6.337% due 08/25/2036 ^þ		99	71
KKR CLO Ltd. 1.076% due 07/15/2030 •		16,050	16,052
LCM LP 1.134% due 07/20/2030 •		12,900	12,903
Lehman ABS Mortgage Loan Trust
0.176% due 06/25/2037 •		196	162
0.286% due 06/25/2037 •		158	132
Lehman XS Trust 0.256% due 02/25/2037 ^•		1,184	1,094
LoanCore Issuer Ltd. 1.214% due 05/15/2028 •		3,252	3,253
Long Beach Mortgage Loan Trust
0.731% due 11/25/2035 •		169	169
0.846% due 08/25/2045 •		27	27
0.926% due 07/25/2031 •		30	30
1.136% due 06/25/2035 •		490	492
1.361% due 02/25/2035 •		12,750	12,804
1.511% due 03/25/2032 •		176	175
MACH Cayman Ltd. 3.474% due 10/15/2039		1,991	1,991
Mackay Shields EURO CLO DAC
0.930% due 10/20/2032 •	EUR	1,900	2,203
1.550% due 08/15/2033 •		4,250	4,930
MAPS Ltd. 4.212% due 05/15/2043	$	3,147	3,178
MASTR Asset-Backed Securities Trust
0.306% due 08/25/2036 •		161	83
0.306% due 11/25/2036 •		4,252	3,158
0.386% due 08/25/2036 •		265	139
0.446% due 02/25/2036 •		332	171
0.566% due 06/25/2036 •		146	81
0.566% due 08/25/2036 •		159	85
0.586% due 11/25/2035 •		8,909	6,597
0.656% due 01/25/2036 •		231	230
0.836% due 12/25/2034 ^•		15	15
0.836% due 10/25/2035 ^•		229	232
Merrill Lynch Mortgage Investors Trust
0.536% due 02/25/2047 •		988	715
0.566% due 08/25/2037 •		782	525
0.806% due 05/25/2036 •		131	130
MESA Trust 0.886% due 12/25/2031 •		192	192
METAL LLC 4.581% due 10/15/2042		3,395	3,125
Mid-State Capital Corp. Trust 6.005% due 08/15/2037		294	310
MidOcean Credit CLO 1.181% due 02/20/2031 •		4,000	3,999
Morgan Stanley ABS Capital, Inc. Trust
0.156% due 10/25/2036 •		81	48
0.196% due 10/25/2036 •		657	427
0.226% due 10/25/2036 •		2,399	1,431
0.226% due 11/25/2036 •		216	135
0.236% due 09/25/2036 •		352	169
0.236% due 10/25/2036 •		192	126
0.236% due 11/25/2036 •		1,100	814
0.266% due 03/25/2037 •		367	213
0.286% due 02/25/2037 •		125	76
0.306% due 11/25/2036 •		1,297	819
0.336% due 03/25/2037 •		367	215
0.386% due 06/25/2036 •		612	518
0.686% due 12/25/2035 •		10,000	9,757
0.706% due 12/25/2035 •		222	221
0.986% due 05/25/2034 •		80	78
1.076% due 06/25/2035 •		417	420
1.136% due 04/25/2035 •		200	200
1.336% due 07/25/2037 •		400	401
Morgan Stanley Capital, Inc. Trust 0.666% due 01/25/2036 •		797	790
Morgan Stanley Dean Witter Capital, Inc. Trust 1.436% due 02/25/2033 •		402	403
Morgan Stanley Home Equity Loan Trust
0.256% due 04/25/2037 •		545	362
0.316% due 04/25/2037 •		182	122
0.406% due 04/25/2036 •		96	79
Morgan Stanley Mortgage Loan Trust
0.546% due 02/25/2037 •		117	43
0.806% due 04/25/2037 •		233	99
1.405% due 11/25/2036 ^•		239	121
5.965% due 09/25/2046 ^þ		325	164

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

Mountain View CLO Ltd. 0.926% due 10/15/2026 •		12	12
New Century Home Equity Loan Trust 1.061% due 10/25/2033 •		1,239	1,241
Newcastle Mortgage Securities Trust
0.316% due 04/25/2037 •		2,442	2,408
0.426% due 04/25/2037 •		4,292	4,059
Nomura Home Equity Loan, Inc. Home Equity Loan Trust
0.701% due 02/25/2036 •		42	42
6.032% due 10/25/2036 ^þ		154	56
NovaStar Mortgage Funding Trust
0.386% due 06/25/2036 •		97	81
0.791% due 01/25/2036 •		5,250	5,250
Option One Mortgage Loan Trust
0.226% due 01/25/2037 •		59	43
0.256% due 05/25/2037 •		10,991	7,439
0.306% due 01/25/2037 •		237	173
0.416% due 04/25/2037 •		108	69
0.626% due 01/25/2036 •		300	297
0.851% due 08/25/2035 •		400	401
Option One Mortgage Loan Trust Asset-Backed Certificates 0.776% due 11/25/2035 •		2,871	2,860
Ownit Mortgage Loan Trust 0.986% due 10/25/2036 ^•		153	160
Palmer Square European Loan Funding DAC 1.150% due 01/15/2030 •	EUR	3,237	3,751
Park Place Securities, Inc. 0.821% due 09/25/2035 •	$	200	200
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates
0.821% due 08/25/2035 •		200	201
0.821% due 09/25/2035 •		489	490
0.881% due 07/25/2035 •		240	240
0.911% due 07/25/2035 •		950	951
1.031% due 06/25/2035 •		125	126
1.136% due 10/25/2034 •		500	501
1.211% due 03/25/2035 •		400	401
1.331% due 01/25/2036 •		180	181
1.886% due 12/25/2034 •		4,191	4,236
People's Financial Realty Mortgage Securities Trust 0.226% due 09/25/2036 •		376	140
Popular ABS Mortgage Pass-Through Trust
0.346% due 11/25/2036 •		80	80
0.669% due 02/25/2036 •		169	168
PRET LLC 1.744% due 07/25/2051 þ		3,000	3,007
Pretium Mortgage Credit Partners LLC
2.240% due 09/27/2060 þ		2,330	2,333
3.179% due 06/27/2069 þ		4,383	4,398
Purple Finance CLO DAC 0.800% due 01/25/2031 •	EUR	1,900	2,204
RAAC Trust
0.436% due 11/25/2046 •	$	420	411
0.686% due 06/25/2044 •		35	32
0.686% due 09/25/2045 •		1,697	1,692
1.286% due 10/25/2045 •		123	124
1.586% due 09/25/2047 •		600	603
Renaissance Home Equity Loan Trust
5.545% due 01/25/2037 þ		7,410	3,848
5.608% due 05/25/2036 þ		9,778	6,545
5.812% due 11/25/2036 þ		519	278
6.254% due 08/25/2036 þ		9,389	5,996
7.238% due 09/25/2037 ^þ		229	134
Residential Asset Mortgage Products Trust
0.646% due 09/25/2036 •		113	111
0.686% due 05/25/2036 ^•		805	779
0.726% due 01/25/2036 •		564	552
0.731% due 11/25/2035 •		40	40
0.776% due 10/25/2035 •		97	97
0.806% due 09/25/2035 •		5	5
0.986% due 08/25/2034 •		21	21
Residential Asset Securities Corp. Trust
0.246% due 11/25/2036 ^•		26	42
0.326% due 09/25/2036 •		179	179
0.336% due 04/25/2037 •		30	30
0.346% due 11/25/2036 •		344	323
0.356% due 05/25/2037 •		5	5
0.426% due 11/25/2036 •		408	392
0.426% due 04/25/2037 •		1,600	1,571
0.506% due 06/25/2036 •		506	506
0.701% due 01/25/2036 •		4	4
0.716% due 10/25/2035 •		108	108
0.716% due 12/25/2035 •		248	248
0.731% due 03/25/2035 •		225	225
0.746% due 11/25/2035 •		138	138
0.746% due 12/25/2035 •		130	118
0.776% due 11/25/2035 •		211	211

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

0.926% due 12/25/2034 •	14	14
Salomon Mortgage Loan Trust 0.986% due 11/25/2033 •	55	55
Securitized Asset-Backed Receivables LLC Trust
0.266% due 07/25/2036 •	210	100
0.366% due 05/25/2036 •	4,780	3,241
0.406% due 07/25/2036 •	205	99
0.566% due 07/25/2036 •	702	346
0.586% due 05/25/2036 •	993	688
0.626% due 03/25/2036 •	135	130
0.746% due 08/25/2035 ^•	137	115
0.761% due 01/25/2035 •	23	22
1.046% due 01/25/2036 ^•	49	45
2.919% due 01/25/2036 ^þ	48	48
SG Mortgage Securities Trust
0.406% due 07/25/2036 •	29,041	8,816
0.761% due 10/25/2035 •	943	940
SLM Student Loan Trust 1.625% due 04/25/2023 •	3,176	3,201
Sound Point CLO Ltd. 1.295% due 07/20/2032 •	5,900	5,900
Soundview Home Loan Trust
0.166% due 06/25/2037 •	47	39
0.196% due 02/25/2037 •	300	108
0.266% due 02/25/2037 •	420	155
0.266% due 07/25/2037 •	1,843	1,776
0.336% due 06/25/2036 •	8,440	8,432
0.406% due 11/25/2036 •	20	20
0.611% due 03/25/2036 •	308	308
0.911% due 06/25/2035 •	6	6
1.036% due 10/25/2037 •	272	251
South Carolina Student Loan Corp. 1.120% due 09/03/2024 •	135	136
Specialty Underwriting & Residential Finance Trust
0.236% due 09/25/2037 •	79	65
0.236% due 11/25/2037 •	736	530
0.356% due 04/25/2037 •	149	122
0.686% due 12/25/2036 •	1,957	1,935
1.061% due 12/25/2035 •	170	170
Starwood Commercial Mortgage Trust 1.244% due 07/15/2038 •	7,600	7,605
Structured Asset Investment Loan Trust
0.236% due 09/25/2036 •	90	88
0.466% due 03/25/2036 •	319	311
0.686% due 01/25/2036 •	169	169
0.806% due 05/25/2035 •	248	249
0.986% due 05/25/2035 •	600	603
1.016% due 09/25/2034 •	561	561
1.211% due 07/25/2033 •	33	33
1.361% due 12/25/2034 •	1,138	1,153
Structured Asset Securities Corp. Mortgage Loan Trust
0.221% due 07/25/2036 •	3,602	3,572
0.236% due 09/25/2036 •	76	74
0.316% due 01/25/2037 •	2,138	1,570
0.336% due 09/25/2036 •	82	82
0.426% due 12/25/2036 •	96	95
0.506% due 02/25/2037 •	406	401
0.986% due 08/25/2037 •	83	83
1.086% due 08/25/2037 •	298	302
Structured Asset Securities Corp. Trust 0.776% due 09/25/2035 •	548	544
Towd Point Mortgage Trust 3.750% due 02/25/2059 ~	10,079	10,563
TPG Real Estate Finance Ltd. 1.284% due 03/15/2038 •	12,600	12,611
Vertical Bridge Holdings LLC 2.636% due 09/15/2050	7,000	7,160
Vibrant CLO Ltd. 1.174% due 09/15/2030 •	14,000	14,024
VOLT LLC 2.116% due 04/25/2051 þ	1,735	1,741
WaMu Asset-Backed Certificates WaMu Trust
0.311% due 05/25/2037 •	7,956	7,706
0.326% due 05/25/2037 •	1,258	1,192
WAVE LLC 3.597% due 09/15/2044	2,245	2,248
Wells Fargo Home Equity Asset-Backed Securities Trust
0.581% due 05/25/2036 •	300	299
1.661% due 02/25/2035 •	186	187
Wells Fargo Home Equity Trust Mortgage Pass-Through Certificates 0.686% due 04/25/2034 •	131	129

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

Wind River CLO Ltd. 0.996% due 10/15/2027 •		35		35
Total Asset-Backed Securities (Cost $552,298)				568,418
SOVEREIGN ISSUES 2.1%
Export-Import Bank of India 1.152% (US0003M + 1.020%) due 03/28/2022 ~(f)		5,000		5,015
Philippines Government International Bond 0.000% due 02/03/2023 (b)	EUR	5,300		6,138
Singapore Government International Bond
1.625% due 07/01/2031	SGD	7,500		5,551
2.750% due 04/01/2042		20,750		17,311
Total Sovereign Issues (Cost $34,228)				34,015
		SHARES
PREFERRED SECURITIES 1.8%
BANKING & FINANCE 1.1%
American AgCredit Corp. 5.250% due 06/15/2026 •(d)		6,000,000		6,120
Capital One Financial Corp. 3.950% due 09/01/2026 •(d)		7,000,000		7,227
Charles Schwab Corp. 5.000% due 12/01/2027 •(d)		4,200,000		4,481
				17,828
INDUSTRIALS 0.7%
General Electric Co. 3.446% (US0003M + 3.330%) due 12/15/2021 ~(d)		10,500,000		10,301
Total Preferred Securities (Cost $27,287)				28,129
SHORT-TERM INSTRUMENTS 0.4%
REPURCHASE AGREEMENTS (g) 0.4%				6,933
U.S. TREASURY BILLS 0.0%
0.043% due 02/17/2022 (b)(c)(h)	$	281		281
Total Short-Term Instruments (Cost $7,214)				7,214
Total Investments in Securities (Cost $2,316,679)				2,363,389
		SHARES
INVESTMENTS IN AFFILIATES 0.0%
SHORT-TERM INSTRUMENTS 0.0%
CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0%
PIMCO Short-Term Floating NAV Portfolio III		15,788		156
Total Short-Term Instruments (Cost $155)				156
Total Investments in Affiliates (Cost $155)				156
Total Investments 148.1% (Cost $2,316,834)			$	2,363,545
Financial Derivative Instruments(i)(k)0.2%(Cost or Premiums, net $2,156)				3,832
Other Assets and Liabilities, net (48.3)%				(771,075)
Net Assets 100.0%			$	1,596,302

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

NOTES TO SCHEDULE OF INVESTMENTS:
* A zero balance may reflect actual amounts rounding to less than one thousand.
¤	The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.
^	Security is in default.
«	Security valued using significant unobservable inputs (Level 3).
~	Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.
•	Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.
þ	Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.
(a)	Payment in-kind security.
(b)	Zero coupon security.
(c)	Coupon represents a yield to maturity.
(d)	Perpetual maturity; date shown, if applicable, represents next contractual call date.
(e)	Contingent convertible security.
(f)	RESTRICTED SECURITIES:
Issuer Description									Coupon		Maturity Date			Acquisition Date					Cost									Market Value							Market Value as Percentage of Net Assets
Export-Import Bank of India								1.152		%	03/28/2022			12/19/2019			$		4,991						$			5,015							0.31			%
Morgan Stanley								7.500			04/02/2032			02/11/2020					6,882									6,503							0.41
																$		11,873						$			11,518							0.72%
BORROWINGS AND OTHER FINANCING TRANSACTIONS
(g)	REPURCHASE AGREEMENTS:
Counterparty		Lending Rate	Settlement Date	Maturity Date			Principal Amount					Collateralized By										Collateral (Received)							Repurchase Agreements, at Value							Repurchase Agreement Proceeds to be Received
FICC		0.000%	09/30/2021	10/01/2021	$		6,933					U.S. Treasury Inflation Protected Securities 0.625% due 04/15/2023									$		(7,072)			$				6,933			$				6,933
Total Repurchase Agreements																					$		(7,072)			$				6,933			$				6,933
REVERSE REPURCHASE AGREEMENTS:
Counterparty						Borrowing Rate(1)							Settlement Date		Maturity Date								Amount Borrowed(1)									Payable for Reverse Repurchase Agreements
BOS						0.080%							09/16/2021		10/05/2021					$			(1,426)								$	(1,426)
BSN						0.070							09/09/2021		10/06/2021								(60,177)									(60,180)
DEU						0.050							09/08/2021		10/08/2021								(28,124)									(28,125)
GRE						0.070							09/01/2021		10/01/2021								(2,040)									(2,040)
						0.070							09/08/2021		10/07/2021								(8,537)									(8,537)
						0.070							09/14/2021		10/01/2021								(13,346)									(13,346)
						0.070							10/01/2021		11/01/2021								(68,236)									(68,236)
JPS						(0.010)							09/28/2021		10/05/2021								(73,704)									(73,704)
RCY						0.070							09/23/2021		10/07/2021								(14,245)									(14,245)
SGY						0.060							09/23/2021		10/01/2021								(151,536)									(151,538)
Total Reverse Repurchase Agreements																															$	(421,377)
SALE-BUYBACK TRANSACTIONS:
Counterparty						Borrowing Rate(1)							Borrowing Date		Maturity Date								Amount Borrowed(1)									Payable for Sale-Buyback Transactions
BCY						(0.020)%							09/20/2021		10/04/2021					$			(48,827)								$	(48,827)
BPG						0.000							09/28/2021		10/05/2021								(5,423)									(5,423)
Total Sale-Buyback Transactions																															$	(54,250)

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

SHORT SALES:
Description																														Coupon				Maturity Date									Principal Amount												Proceeds															Payable for Short Sales
U.S. Government Agencies (24.6)%
Uniform Mortgage-Backed Security, TBA																														2.500%				11/01/2051								$				12,000						$								(12,409)						$							(12,350)
Uniform Mortgage-Backed Security, TBA																														3.500				10/01/2051												195,132														(206,251)													(206,478)
Uniform Mortgage-Backed Security, TBA																														3.500				11/01/2051												12,668														(13,402)													(13,414)
Uniform Mortgage-Backed Security, TBA																														4.000				10/01/2051												149,800														(160,520)													(160,506)
Total Short Sales (24.6)%																																																				$								(392,582)						$							(392,748)
(h)	Securities with an aggregate market value of $464,254 and cash of $770 have been pledged as collateral under the terms of master agreements as of September 30, 2021.
(1)	The average amount of borrowings outstanding during the period ended September 30, 2021 was $(233,966) at a weighted average interest rate of (0.009)%. 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
FUTURES CONTRACTS:
SHORT FUTURES CONTRACTS
																																																			Variation Margin
Description													Expiration Month					# of Contracts								Notional Amount															Unrealized Appreciation/ (Depreciation)													Asset																		Liability
Euro-Bund 10-Year Bond December Futures													12/2021					195				$				(38,359)										$					537										$			150											$							(130)
Total Futures Contracts																																			$					537										$			150											$							(130)
SWAP AGREEMENTS:
CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION(1)
																																																								Variation Margin
Reference Entity			Fixed Receive Rate		Payment Frequency			Maturity Date			Implied Credit Spread at September 30, 2021(2)										Notional Amount(3)						Premiums Paid/ (Received)										Unrealized Appreciation/ (Depreciation)										Market Value(4)														Asset												Liability
Boeing Co.			1.000%		Quarterly			06/20/2023			0.617				%		$				7,100		$				25				$						24						$				49										$				0						$						(1)
General Electric Co.			1.000		Quarterly			12/20/2023			0.353										2,650						(19)										58										39														0												0
General Electric Co.			1.000		Quarterly			06/20/2024			0.415										1,550						(2)										27										25														0												(1)
General Electric Co.			1.000		Quarterly			12/20/2024			0.458										600						(9)										20										11														0												0
General Electric Co.			1.000		Quarterly			06/20/2026			0.696										200						2										1										3														0												0
Lennar Corp.			5.000		Quarterly			12/20/2025			0.754										1,200						227										(13)										214														0												(1)
Telefonica Emisiones S.A.U.			1.000		Quarterly			06/20/2028			0.834						EUR				2,600						6										29										35														0												(2)
																								$				230				$						146						$				376										$				0						$						(5)
CREDIT DEFAULT SWAPS ON CREDIT INDICES - SELL PROTECTION(1)
																																																								Variation Margin
Index/Tranches				Fixed Receive Rate			Payment Frequency			Maturity Date									Notional Amount(3)								Premiums Paid/ (Received)										Unrealized Appreciation/ (Depreciation)										Market Value(4)														Asset												Liability
CDX.IG-36 5-Year Index				1.000%			Quarterly			06/20/2026				$					36,000				$				892				$						(14)						$				878										$				0						$						(10)
CDX.IG-37 5-Year Index				1.000			Quarterly			12/20/2026									55,700								1,354										(14)										1,340														0												(27)
																							$				2,246				$						(28)						$				2,218										$				0						$						(37)
INTEREST RATE SWAPS
																																																								Variation Margin
Pay/ Receive Floating Rate		Floating Rate Index				Fixed Rate			Payment Frequency			Maturity Date								Notional Amount									Premiums Paid/ (Received)										Unrealized Appreciation/ (Depreciation)										Market Value														Asset												Liability
Receive		1-Day SGD-SIBCSORA Compounded-OIS				1.250%			Semi-Annual			09/15/2031				SGD				47,700					$				(260)				$						1,016						$				756										$				106						$						0
Pay		1-Year BRL-CDI				3.700			Maturity			01/03/2022				BRL				625,500									(170)										(820)										(990)														0												(2)
Pay		1-Year BRL-CDI				3.978			Maturity			01/03/2022								35,200									0										(45)										(45)														0												0
Pay		1-Year BRL-CDI				4.040			Maturity			01/03/2022								36,300									0										(44)										(44)														0												0
Pay		3-Month CAD-Bank Bill				0.980			Semi-Annual			02/26/2024				CAD				232,400									217										(506)										(289)														40												0

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

Pay		3-Month CAD-Bank Bill		0.880	Semi-Annual		03/03/2024			107,000				6				(373)							(367)			17							0
Pay		3-Month CAD-Bank Bill		1.235	Semi-Annual		03/04/2025			55,000				157				(243)							(86)			1							0
Pay		CPURNSA		2.670	Maturity		05/05/2026		$	96,000				0				(2,710)							(2,710)			26							0
Pay		CPURNSA		2.596	Maturity		07/09/2026			6,000				0				(138)							(138)			3							0
Pay		CPURNSA		2.573	Maturity		07/13/2026			6,000				0				(141)							(141)			3							0
Pay		UKRPI		3.686	Maturity		06/15/2031		GBP	35,000				0				(2,466)							(2,466)			425							0
Pay		UKRPI		3.858	Maturity		09/15/2031			17,200				0				(462)							(462)			198							0
											$		(50)			$	(6,932)				$			(6,982)		$	819						$	(2)
Total Swap Agreements											$		2,426			$	(6,814)				$			(4,388)		$	819						$	(44)
(j)	Securities with an aggregate market value of $17,610 and cash of $4,458 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2021.
(1)	If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2)	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.
(3)	The maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(4)	The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
(k)	FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER
FORWARD FOREIGN CURRENCY CONTRACTS:
																			Unrealized Appreciation/(Depreciation)
Counterparty			Settlement Month					Currency to be Delivered							Currency to be Received								Asset									Liability
BOA			10/2021			$		62,372				GBP			46,128					$			0							$		(219)
			11/2021			GBP		46,128				$			62,375								219									0
			11/2021			RUB		467							6								0									0
			12/2021					2,476							33								0									0
			12/2021			$		181				KRW			211,340								0									(3)
			12/2021					1,165				SGD			1,585								2									0
BPS			10/2021			GBP		642				$			887								22									0
			11/2021			ILS		1,837							561								0									(9)
BRC			11/2021			RUB		1,630							22								0									0
CBK			10/2021			GBP		340							470								12									0
			10/2021			$		507				PEN			1,952								0									(36)
			11/2021			CHF		192				$			211								5									0
			11/2021			NOK		2,660							301								0									(3)
			11/2021			RUB		3,865							52								0									(1)
			12/2021					1,632							22								0									0
			12/2021			$		30				PEN			112								0									(3)
GLM			10/2021			GBP		295				$			409								11									0
			10/2021			MXN		12,379							610								12									0
			10/2021			RUB		1,351							18								0									(1)
			11/2021					1,713							23								0									0
			12/2021					3,973							53								0									0
HUS			10/2021			GBP		430							592								13									0
			10/2021			RUB		695							9								0									0
			11/2021					100							1								0									0
JPM			10/2021					817							11								0									0
			10/2021			$		4,272				EUR			3,599								0									(103)
			12/2021			SGD		28,857				$			21,463								214									0
RYL			12/2021					4,858							3,593								15									0
SCX			10/2021			EUR		83,942							99,152								1,918									0
			10/2021			GBP		44,421							60,874								1,021									0
			10/2021			RUB		3,930							53								0									(1)
			11/2021			CAD		1,703							1,344								0									(1)
			11/2021			EUR		80,343							93,164								48									0
			12/2021			INR		17,406							232								0									(1)
			12/2021			$		85				KRW			98,762								0									(2)
UAG			10/2021			RUB		2,104				$			28								0									(1)
			11/2021					1,940							26								0									(1)
Total Forward Foreign Currency Contracts																			$			3,512							$		(385)

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

SWAP AGREEMENTS:
CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - SELL PROTECTION(1)
																					Swap Agreements, at Value(4)
Counterparty			Reference Entity	Fixed Receive Rate	Payment Frequency	Maturity Date			Implied Credit Spread at September 30, 2021(2)				Notional Amount(3)		Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)				Asset		Liability
CBK			Brazil Government International Bond	1.000%	Quarterly	12/20/2024			1.409%		$		3,100	$	(54)		$	15		$		0	$	(39)
FBF			Brazil Government International Bond	1.000	Quarterly	06/20/2022			0.714				1,200		(80)			83				3		0
GST			Brazil Government International Bond	1.000	Quarterly	06/20/2024			1.291				200		(6)			4				0		(2)
			Brazil Government International Bond	1.000	Quarterly	12/20/2024			1.409				3,100		(48)			9				0		(39)
			Mexico Government International Bond	1.000	Quarterly	12/20/2024			0.566				200		(2)			5				3		0
HUS			Brazil Government International Bond	1.000	Quarterly	12/20/2023			1.119				300		(10)			9				0		(1)
			Brazil Government International Bond	1.000	Quarterly	06/20/2024			1.291				2,400		(70)			52				0		(18)
MYC			Mexico Government International Bond	1.000	Quarterly	12/20/2024			0.566				200		(2)			5				3		0
			Mexico Government International Bond	1.000	Quarterly	12/20/2026			1.016				1,000		2			(2)				0		0
Total Swap Agreements														$	(270)		$	180		$		9	$	(99)
(l)		Securities with an aggregate market value of $56 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2021.
(1)		If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2)		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.
(3)		The maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(4)		The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument'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
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 in valuing the Portfolio's assets and liabilities:
Category and Subcategory							Level 1			Level 2					Level 3				Fair Value at 09/30/2021
Investments in Securities, at Value
Loan Participations and Assignments							$	0		$		0			$	10,542			$		10,542
Corporate Bonds & Notes
	Banking & Finance							0				352,094				0					352,094
	Industrials							0				159,923				0					159,923
	Utilities							0				33,498				0					33,498
Municipal Bonds & Notes
	California							0				10,428				0					10,428
	Illinois							0				1,344				0					1,344
	New Jersey							0				6,553				0					6,553
	New York							0				13,683				0					13,683
	Ohio							0				1,334				0					1,334
	Pennsylvania							0				10,953				0					10,953
	Texas							0				434				0					434
	Virginia							0				24,352				0					24,352
U.S. Government Agencies								0				363,584				0					363,584
U.S. Treasury Obligations								0				443,894				0					443,894
Non-Agency Mortgage-Backed Securities								0				280,700				12,297					292,997
Asset-Backed Securities								0				568,418				0					568,418
Sovereign Issues								0				34,015				0					34,015
Preferred Securities
	Banking & Finance							0				17,828				0					17,828
	Industrials							0				10,301				0					10,301
Short-Term Instruments
	Repurchase Agreements							0				6,933				0					6,933
	U.S. Treasury Bills							0				281				0					281
							$	0		$		2,340,550			$	22,839			$		2,363,389
Investments in Affiliates, at Value
Short-Term Instruments
	Central Funds Used for Cash Management Purposes						$	156		$		0			$	0			$		156
Total Investments							$	156		$		2,340,550			$	22,839			$		2,363,545

Schedule of Investments PIMCO Fixed Income SHares: Series M(Cont.) September 30, 2021 (Unaudited)

Short Sales, at Value - Liabilities
U.S. Government Agencies														$		0						$			(392,748)				$	0				$			(392,748)
Financial Derivative Instruments - Assets
Exchange-traded or centrally cleared																150									819					0							969
Over the counter																0									3,521					0							3,521
														$		150						$			4,340				$	0				$			4,490
Financial Derivative Instruments - Liabilities
Exchange-traded or centrally cleared																(130)									(44)					0							(174)
Over the counter																0									(484)					0							(484)
														$		(130)						$			(528)				$	0				$			(658)
Total Financial Derivative Instruments														$		20						$			3,812				$	0				$			3,832
Totals														$		176						$			1,951,614				$	22,839				$			1,974,629
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio during the period ended September 30, 2021:
Category and Subcategory		Beginning Balance at 12/31/2020		Net Purchases				Net Sales/Settlements					Accrued Discounts/ (Premiums)					Realized Gain/(Loss)			Net Change in Unrealized Appreciation/ (Depreciation) (1)						Transfers into Level 3				Transfers out of Level 3					Ending Balance at 09/30/2021			Net Change in Unrealized Appreciation/ (Depreciation) on Investments Held at 09/30/2021 (1)
Investments in Securities, at Value
Loan Participations and Assignments		$	0	$		10,683		$			(231)	$			1		$		0	$				89		$		0			$	0				$		10,542	$		88
Non-Agency Mortgage-Backed Securities			23,723			12,383					(23,292)				0				0					(517)				0				0						12,297			(85)
Totals		$	23,723	$		23,066		$			(23,523)	$			1		$		0	$				(428)		$		0			$	0				$		22,839	$		3
The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:
Category and Subcategory					Ending Balance at 09/30/2021				Valuation Technique														Unobservable Inputs												Input Value(s)					Weighted Average
Investments in Securities, at Value
Loan Participations and Assignments					$		10,542			Proxy Pricing													Base Price										%		100.625					—
Non-Agency Mortgage-Backed Securities							12,297			Proxy Pricing													Base Price												103.188					—
Total					$		22,839
(1)	Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2021 may be due to an investment no longer held or categorized as Level 3 at period end.

Schedule of Investments PIMCO Fixed Income SHares: Series R September 30, 2021 (Unaudited)

(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)
		PRINCIPAL AMOUNT (000s)		MARKET VALUE (000s)
INVESTMENTS IN SECURITIES 152.5% ¤
CORPORATE BONDS & NOTES 7.4%
BANKING & FINANCE 7.2%
Deutsche Bank AG 4.250% due 10/14/2021	$	1,400	$	1,402
ING Bank NV 2.625% due 12/05/2022		400		411
Jyske Realkredit A/S 1.000% due 10/01/2050	DKK	2,958		434
Natwest Group PLC
1.682% (US0003M + 1.550%) due 06/25/2024 ~	$	300		306
4.519% due 06/25/2024 •		200		213
Nordea Kredit Realkreditaktieselskab
1.000% due 10/01/2050	DKK	2,982		438
Nykredit Realkredit A/S
1.000% due 10/01/2050		7,129		1,046
1.500% due 10/01/2053		20,174		3,040
2.500% due 10/01/2047		21		4
Realkredit Danmark A/S
1.500% due 10/01/2050		40,450		6,134
1.500% due 10/01/2053		17,496		2,612
2.500% due 04/01/2047		14		2
UniCredit SpA 7.830% due 12/04/2023	$	600		687
				16,729
UTILITIES 0.2%
Petrobras Global Finance BV 5.093% due 01/15/2030		342		362
Total Corporate Bonds & Notes (Cost $17,869)				17,091
U.S. GOVERNMENT AGENCIES 4.4%
Fannie Mae
0.531% due 02/25/2037 •		15		15
1.299% due 10/01/2044 •		2		2
Freddie Mac
1.792% due 09/01/2036 •		16		16
1.975% due 07/01/2036 •		29		30
Ginnie Mae 0.382% due 08/20/2068 •		377		373
Uniform Mortgage-Backed Security 3.500% due 12/01/2045		11		12
Uniform Mortgage-Backed Security, TBA
3.500% due 12/01/2051		600		636
4.000% due 11/01/2051		8,500		9,117
Total U.S. Government Agencies (Cost $10,189)				10,201
U.S. TREASURY OBLIGATIONS 116.4%
U.S. Treasury Bonds
1.625% due 11/15/2050 (c)		1,470		1,321
U.S. Treasury Inflation Protected Securities(a)
0.125% due 01/15/2022 (e)		48		49
0.125% due 01/15/2023		5,489		5,676
0.125% due 10/15/2024		4,149		4,440
0.125% due 04/15/2025		3,804		4,083
0.125% due 04/15/2026 (c)		13,364		14,474
0.125% due 07/15/2026		4,316		4,710
0.125% due 01/15/2030 (c)		27,616		30,363
0.125% due 07/15/2030		3,620		3,995
0.125% due 01/15/2031 (c)		10,412		11,438
0.125% due 07/15/2031 (c)		25,635		28,254
0.125% due 02/15/2051		4,718		5,182
0.250% due 01/15/2025		9,450		10,156
0.250% due 07/15/2029		1,708		1,902
0.250% due 02/15/2050		1,858		2,098
0.375% due 07/15/2025		1,354		1,478
0.375% due 07/15/2027		8,972		9,986
0.500% due 04/15/2024		8,875		9,480
0.500% due 01/15/2028		44		50
0.625% due 04/15/2023		4,506		4,715

Schedule of Investments PIMCO Fixed Income SHares: Series R(Cont.) September 30, 2021 (Unaudited)

0.625% due 01/15/2024		1,287	1,373
0.625% due 01/15/2026		5,215	5,759
0.625% due 02/15/2043		3,348	3,995
0.750% due 07/15/2028		7,068	8,098
0.750% due 02/15/2042		2,525	3,079
0.750% due 02/15/2045 (c)		10,050	12,380
0.875% due 01/15/2029 (c)		10,810	12,498
0.875% due 02/15/2047		3,782	4,855
1.000% due 02/15/2046 (c)		8,859	11,553
1.000% due 02/15/2048		1,423	1,892
1.000% due 02/15/2049		2,961	3,975
1.375% due 02/15/2044		6,079	8,359
1.750% due 01/15/2028 (c)		12,971	15,616
2.000% due 01/15/2026		2,081	2,428
2.125% due 02/15/2040		1,465	2,183
2.125% due 02/15/2041		6,569	9,902
2.500% due 01/15/2029		3,330	4,267
3.375% due 04/15/2032		392	574
3.625% due 04/15/2028		2,211	2,957
Total U.S. Treasury Obligations (Cost $256,534)			269,593
NON-AGENCY MORTGAGE-BACKED SECURITIES 1.4%
AREIT Trust 2.784% due 04/15/2037 •		278	279
Banc of America Funding Trust 3.162% due 01/20/2047 ~		451	444
Countrywide Alternative Loan Trust 0.282% due 12/20/2046 ^•		714	635
Grifonas Finance PLC 0.000% due 08/28/2039 •	EUR	103	117
GSR Mortgage Loan Trust 2.859% due 09/25/2035 ~	$	11	11
HarborView Mortgage Loan Trust 0.987% due 06/20/2035 •		305	304
IndyMac Mortgage Loan Trust 0.926% due 05/25/2034 •		709	700
MortgageIT Trust 1.091% due 12/25/2034 •		11	11
Residential Accredit Loans, Inc. Trust 0.446% due 06/25/2046 •		207	66
Towd Point Mortgage Funding 1.250% due 02/20/2054 •	GBP	595	806
Total Non-Agency Mortgage-Backed Securities (Cost $3,131)			3,373
ASSET-BACKED SECURITIES 3.2%
Asset-Backed Funding Certificates Trust 0.686% due 10/25/2034 •	$	22	22
Atlas Senior Loan Fund Ltd. 1.276% due 01/16/2030 •		400	400
CIT Mortgage Loan Trust 1.436% due 10/25/2037 •		274	277
Citigroup Mortgage Loan Trust
0.166% due 01/25/2037 •		162	143
0.376% due 09/25/2036 •		397	386
Citigroup Mortgage Loan Trust, Inc. 0.776% due 10/25/2035 ^•		500	491
Countrywide Asset-Backed Certificates Trust 0.881% due 02/25/2036 •		224	224
Dryden Senior Loan Fund 1.026% due 10/15/2027 •		501	501
Home Equity Asset Trust 0.941% due 08/25/2034 •		43	43
KKR CLO Ltd. 1.404% due 07/18/2030 •		300	300
LoanCore Issuer Ltd. 1.214% due 05/15/2036 •		189	189
Man GLG Euro CLO DAC 0.870% due 01/15/2030 •	EUR	231	268
Massachusetts Educational Financing Authority 1.075% due 04/25/2038 •	$	31	31
Morgan Stanley ABS Capital, Inc. Trust 0.746% due 01/25/2035 •		268	267
Mountain View CLO Ltd. 0.949% due 10/13/2027 •		112	112
Nomura Home Equity Loan, Inc. Home Equity Loan Trust 0.851% due 05/25/2035 •		1,300	1,295
Palmer Square European Loan Funding DAC 0.870% due 02/15/2030 •	EUR	219	254
RAAC Trust 0.596% due 08/25/2036 •	$	18	18
Saxon Asset Securities Trust 0.806% due 05/25/2035 •		42	41
Shackleton CLO Ltd. 1.264% due 10/20/2028 •		1,115	1,116

Schedule of Investments PIMCO Fixed Income SHares: Series R(Cont.) September 30, 2021 (Unaudited)

Sound Point CLO Ltd.
1.038% due 01/23/2029 •		400		400
1.128% due 01/23/2029 •		367		367
Structured Asset Securities Corp. Mortgage Loan Trust 1.086% due 08/25/2037 •		22		23
Venture CLO Ltd. 1.006% due 07/15/2027 •		217		218
Total Asset-Backed Securities (Cost $7,128)				7,386
SOVEREIGN ISSUES 19.0%
Australia Government International Bond
1.250% due 02/21/2022	AUD	904		661
3.000% due 09/20/2025		1,089		922
Canada Government Real Return Bond 4.250% due 12/01/2026 (a)	CAD	972		979
France Government International Bond
0.100% due 03/01/2026 (a)	EUR	2,344		3,004
0.250% due 07/25/2024 (a)		3,260		4,091
2.100% due 07/25/2023 (a)		348		435
Italy Buoni Poliennali Del Tesoro
0.400% due 05/15/2030 (a)		8,178		10,489
1.400% due 05/26/2025 (a)		9,284		11,791
Japan Government International Bond
0.005% due 03/10/2031 (a)	JPY	191,512		1,762
0.100% due 03/10/2028 (a)		251,978		2,327
0.100% due 03/10/2029 (a)		413,043		3,828
Mexico Government International Bond 7.750% due 05/29/2031	MXN	8,021		399
New Zealand Government International Bond
2.000% due 09/20/2025	NZD	454		341
3.000% due 09/20/2030		1,350		1,171
Peru Government International Bond 5.940% due 02/12/2029	PEN	900		218
Qatar Government International Bond 3.875% due 04/23/2023	$	300		316
United Kingdom Gilt 0.125% due 03/22/2024 (a)	GBP	882		1,311
Total Sovereign Issues (Cost $43,078)				44,045
SHORT-TERM INSTRUMENTS 0.7%
REPURCHASE AGREEMENTS (b) 0.7%				1,638
Total Short-Term Instruments (Cost $1,638)				1,638
Total Investments in Securities (Cost $339,567)				353,327
Total Investments 152.5% (Cost $339,567)			$	353,327
Financial Derivative Instruments(d)(f)0.4%(Cost or Premiums, net $(815))				1,493
Other Assets and Liabilities, net (53.1)%				(123,145)
Net Assets 100.0%			$	231,675

Schedule of Investments PIMCO Fixed Income SHares: Series R(Cont.) September 30, 2021 (Unaudited)

NOTES TO SCHEDULE OF INVESTMENTS:
* A zero balance may reflect actual amounts rounding to less than one thousand.
¤	The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.
^	Security is in default.
~	Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.
•	Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.
(a)	Principal amount of security is adjusted for inflation.
BORROWINGS AND OTHER FINANCING TRANSACTIONS
(b)	REPURCHASE AGREEMENTS:
Counterparty		Lending Rate	Settlement Date	Maturity Date				Principal Amount		Collateralized By											Collateral (Received)							Repurchase Agreements, at Value							Repurchase Agreement Proceeds to be Received
FICC		0.000%	09/30/2021	10/01/2021	$			1,638		U.S. Treasury Notes 1.625% due 12/15/2022										$		(1,671)					$		1,638					$				1,638
Total Repurchase Agreements																				$		(1,671)					$		1,638					$				1,638
SALE-BUYBACK TRANSACTIONS:
Counterparty							Borrowing Rate(1)				Borrowing Date			Maturity Date								Amount Borrowed(1)											Payable for Sale-Buyback Transactions(2)
BCY							(0.030)%				09/17/2021			10/01/2021					$			(14,561)								$			(14,560)
							0.030				09/16/2021			10/07/2021								(10,282)											(10,282)
BOS							0.080				09/13/2021			10/05/2021								(51,964)											(51,966)
BPG							0.080				09/08/2021			10/07/2021								(3,493)											(3,494)
							0.080				09/10/2021			10/05/2021								(9,908)											(9,909)
TDL							0.010				09/30/2021			10/01/2021								(19,514)											(19,514)
Total Sale-Buyback Transactions																														$			(109,725)
(c)	Securities with an aggregate market value of $108,373 and cash of $768 have been pledged as collateral under the terms of master agreements as of September 30, 2021.
(1)	The average amount of borrowings outstanding during the period ended September 30, 2021 was $(107,052) at a weighted average interest rate of 0.076%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.
(2)	Payable for sale-buyback transactions includes $(1) of deferred price drop.
(d)	FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED
FUTURES CONTRACTS:
LONG FUTURES CONTRACTS
																								Variation Margin
Description						Expiration Month			# of Contracts				Notional Amount					Unrealized Appreciation/ (Depreciation)								Asset											Liability
Call Options Strike @ EUR 113.4 on Eur-Schatz December 2021 Futures (1)						11/2021			450			$	3			$		0						$		0						$					0
Euro-Bund 10-Year Bond December Futures						12/2021			33				6,491					(104)								11											(13)
Gold 100 oz. December Futures						12/2021			13				2,284					(62)								71											0
U.S. Treasury 5-Year Note December Futures						12/2021			768				94,266					(525)								67											0
U.S. Treasury 10-Year Ultra Long-Term Bond December Futures						12/2021			70				10,168					3								6											(1)
															$		(688)						$		155						$					(14)
SHORT FUTURES CONTRACTS
																								Variation Margin
Description						Expiration Month			# of Contracts				Notional Amount					Unrealized Appreciation/ (Depreciation)								Asset											Liability
Australia Government 3-Year Note December Futures						12/2021			10			$	(842)			$		1						$		0						$					0
Australia Government 10-Year Bond December Futures						12/2021			2				(205)					3								0											0
Euro-Bobl December Futures						12/2021			73				(11,410)					76								6											(10)
Euro-BTP Italy Government Bond December Futures						12/2021			71				(11,567)					112								30											(29)
Euro-Buxl 30-Year Bond December Futures						12/2021			33				(7,773)					213								50											(22)

Schedule of Investments PIMCO Fixed Income SHares: Series R(Cont.) September 30, 2021 (Unaudited)

Euro-OAT France Government 10-Year Bond December Futures										12/2021				2					(384)									7							1										(1)
Euro-Schatz December Futures										12/2021				662					(86,042)									76							4										(4)
Japan Government 10-Year Bond June Futures December Futures										12/2021				5					(6,800)									20							2										(2)
U.S. Treasury 2-Year Note December Futures										12/2021				52					(11,443)									0							2										0
U.S. Treasury 10-Year Note December Futures										12/2021				463					(60,935)									855							0										(65)
U.S. Treasury 30-Year Bond December Futures										12/2021				79					(12,578)									337							0										(10)
U.S. Treasury Ultra Long-Term Bond December Futures										12/2021				45					(8,598)									109							4										0
																								$			1,809						$	99							$			(143)
Total Futures Contracts																								$			1,121						$	254							$			(157)
SWAP AGREEMENTS:
CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION(2)
																																				Variation Margin
Reference Entity			Fixed Receive Rate	Payment Frequency		Maturity Date		Implied Credit Spread at September 30, 2021(3)								Notional Amount(4)				Premiums Paid/ (Received)					Unrealized Appreciation/ (Depreciation)						Market Value(5)								Asset							Liability
General Electric Co.			1.000%	Quarterly		12/20/2023		0.353			%		$			100	$			(5)		$			6				$		1						$		0			$				0
INTEREST RATE SWAPS
																																				Variation Margin
Pay/ Receive Floating Rate		Floating Rate Index			Fixed Rate		Payment Frequency		Maturity Date						Notional Amount						Premiums Paid/ (Received)					Unrealized Appreciation/ (Depreciation)						Market Value								Asset							Liability
Pay(6)		3-Month EUR-EURIBOR			-0.526%		Annual		11/21/2023			EUR			11,300			$			0		$			(20)				$		(20)						$		0			$				0
Receive		3-Month NZD-BBR			3.250		Semi-Annual		03/21/2028			NZD			1,200						4					(68)						(64)								0							0
Receive		6-Month JPY-LIBOR			0.300		Semi-Annual		09/20/2027			JPY			172,740						(3)					(21)						(24)								0							(1)
Pay		CPTFEMU			1.380		Maturity		03/15/2031			EUR			3,900						(28)					(278)						(306)								11							0
Receive		CPTFEMU			1.710		Maturity		03/15/2033						300						(1)					1						0								0							0
Pay		CPURNSA			2.155		Maturity		01/19/2022			$			2,000						0					(70)						(70)								0							0
Pay		CPURNSA			2.180		Maturity		01/19/2022						3,100						0					(108)						(108)								1							0
Pay		CPURNSA			2.200		Maturity		01/21/2022						900						0					(31)						(31)								0							0
Pay		CPURNSA			2.200		Maturity		02/05/2022						2,800						0					(98)						(98)								1							0
Receive		CPURNSA			2.500		Maturity		07/15/2022						5,000						(743)					428						(315)								4							0
Receive		CPURNSA			2.210		Maturity		02/05/2023						3,240						0					97						97								0							(1)
Receive		CPURNSA			2.220		Maturity		04/13/2023						318						0					9						9								0							0
Receive		CPURNSA			2.314		Maturity		02/26/2026						2,700						0					134						134								0							(2)
Receive		CPURNSA			2.419		Maturity		03/05/2026						2,100						0					93						93								0							(1)
Receive		CPURNSA			2.767		Maturity		05/13/2026						1,800						0					40						40								0							0
Receive		CPURNSA			2.813		Maturity		05/14/2026						800						0					16						16								0							0
Receive		CPURNSA			2.703		Maturity		05/25/2026						830						0					21						21								0							0
Receive		CPURNSA			2.690		Maturity		06/01/2026						600						0					15						15								0							0
Pay		CPURNSA			2.370		Maturity		06/06/2028						2,200						0					(79)						(79)								0							0
Pay		CPURNSA			2.165		Maturity		04/16/2029						2,000						0					(134)						(134)								0							0
Pay		CPURNSA			1.954		Maturity		06/03/2029						1,000						0					(89)						(89)								0							0
Pay		CPURNSA			1.998		Maturity		07/25/2029						1,300						0					(106)						(106)								0							0
Pay		CPURNSA			1.883		Maturity		11/20/2029						500						1					(50)						(49)								0							0
Receive		CPURNSA			2.311		Maturity		02/24/2031						1,500						1					90						91								0							0
Pay		FRCPXTOB			1.410		Maturity		11/15/2039			EUR			300						0					(33)						(33)								2							0
Pay		UKRPI			3.850		Maturity		09/15/2024			GBP			1,900						(1)					11						10								5							0
Pay		UKRPI			3.330		Maturity		01/15/2025						5,800						158					(418)						(260)								21							0
Pay		UKRPI			3.603		Maturity		11/15/2028						60						0					(1)						(1)								1							0
Pay		UKRPI			3.718		Maturity		12/15/2028						10						0					0						0								0							0
Pay		UKRPI			3.438		Maturity		01/15/2030						3,000						0					(245)						(245)								31							0
Pay		UKRPI			3.480		Maturity		01/15/2030						700						9					(61)						(52)								7							0
Pay		UKRPI			3.325		Maturity		08/15/2030						2,050						(5)					(136)						(141)								28							0
Receive		UKRPI			3.470		Maturity		01/15/2031						100						0					12						12								0							(1)
Receive		UKRPI			3.484		Maturity		01/15/2031						400						0					49						49								0							(4)
Pay		UKRPI			3.750		Maturity		04/15/2031						740						0					(56)						(56)								8							0
Pay		UKRPI			4.066		Maturity		09/15/2031						1,800						0					17						17								21							0
Pay		UKRPI			3.566		Maturity		03/15/2036						600						0					(69)						(69)								9							0
Pay		UKRPI			3.580		Maturity		03/15/2036						1,300						(6)					(139)						(145)								19							0
																	$			(614)		$			(1,277)				$		(1,891)						$		169			$				(10)
Total Swap Agreements																	$			(619)		$			(1,271)				$		(1,890)						$		169			$				(10)
(e)	Securities with an aggregate market value of $49 and cash of $2,743 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2021.
(1)	Future styled option.
(2)	If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

Schedule of Investments PIMCO Fixed Income SHares: Series R(Cont.) September 30, 2021 (Unaudited)

(3)	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.
(4)	The maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(5)	The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
(6)	This instrument has a forward starting effective date.
(f)	FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER
FORWARD FOREIGN CURRENCY CONTRACTS:
							Unrealized Appreciation/(Depreciation)
Counterparty		Settlement Month		Currency to be Delivered		Currency to be Received			Asset		Liability
BOA		10/2021	$	382	CNH	2,475		$	1	$	0
		10/2021		3,262	DKK	20,727			0		(33)
		10/2021		2,706	GBP	2,001			0		(9)
		11/2021	GBP	2,001	$	2,706			10		0
		11/2021	PLN	112		29			1		0
		02/2022		136		35			1		0
		04/2022	DKK	20,649		3,261			33		0
BPS		10/2021	AUD	569		418			6		0
		10/2021	BRL	1,567		288			0		0
		10/2021	CAD	1,649		1,299			0		(3)
		10/2021	DKK	2,230		357			9		0
		10/2021	GBP	149		206			5		0
		10/2021	MXN	8,166		402			7		0
		10/2021	$	297	BRL	1,567			0		(9)
		10/2021		228	CNH	1,475			1		0
		10/2021		272	DKK	1,700			0		(7)
		10/2021		145	EUR	123			0		(3)
		10/2021		404	MXN	8,166			0		(9)
		11/2021	BRL	1,567	$	295			9		0
		11/2021	IDR	10,114,764		703			0		(1)
		11/2021	$	275	IDR	3,947,424			0		0
		01/2022	MXN	8,166	$	399			9		0
CBK		10/2021	GBP	637		877			18		0
		10/2021	NZD	2,257		1,591			33		0
		10/2021	$	1,761	DKK	11,175			0		(21)
		11/2021		281	GBP	209			1		0
		11/2021		1,170	NOK	10,340			13		0
		12/2021		127	CNH	824			0		0
		02/2022	PLN	104	$	27			1		0
		03/2022	PEN	539		145			16		0
		04/2022	DKK	9,484		1,498			15		0
		05/2022	PEN	423		103			3		0
GLM		10/2021	EUR	1,111		1,301			14		0
		10/2021	$	115	CNH	747			1		0
		12/2021		127		827			0		0
		12/2021		303	IDR	4,357,884			0		0
HUS		10/2021	CNH	1,065	$	165			0		0
		10/2021	GBP	296		403			5		0
		11/2021	IDR	8,731,695		607			0		(1)
		11/2021	$	165	CNH	1,068			0		0
		12/2021		89	IDR	1,280,876			0		0
		04/2022		486	DKK	3,110			0		0
JPM		10/2021	DKK	61,279	$	9,853			308		0
		10/2021	$	123	EUR	104			0		(3)
		11/2021		265	IDR	3,801,160			0		0
MYI		10/2021	BRL	1,567	$	290			2		0
		10/2021	DKK	30,132		4,848			154		0
		10/2021	$	288	BRL	1,567			0		0
		10/2021		9,733	DKK	61,901			0		(91)
		10/2021		1,566	NZD	2,257			0		(8)
		11/2021	NZD	2,257	$	1,566			8		0
		11/2021	PLN	78		21			1		0
		11/2021	$	87	IDR	1,244,300			0		0
		04/2022	DKK	61,667	$	9,733			92		0
SCX		10/2021	EUR	25,964		30,668			593		0
		10/2021	GBP	919		1,254			16		0
		10/2021	JPY	870,700		7,928			104		0
		11/2021	EUR	26,848		31,132			16		0
		11/2021	JPY	870,700		7,805			0		(20)
		11/2021	$	313	SEK	2,700			0		(5)
		12/2021		150	CNH	977			1		0
		12/2021		184	IDR	2,644,025			0		(1)
SSB		10/2021		300	CAD	379			0		(1)

Schedule of Investments PIMCO Fixed Income SHares: Series R(Cont.) September 30, 2021 (Unaudited)

TOR		12/2021			137				CNH	886						0						0
		12/2021			92				IDR	1,324,990						0						0
UAG		11/2021			972				SEK	8,435						0						(9)
Total Forward Foreign Currency Contracts														$	1,507				$		(234)
PURCHASED OPTIONS:
INTEREST RATE SWAPTIONS
Counterparty	Description		Floating Rate Index				Pay/Receive Floating Rate	Exercise Rate			Expiration Date		Notional Amount(1)					Cost					Market Value
BPS	Put - OTC 30-Year Interest Rate Swap		6-Month EUR-EURIBOR				Receive	0.195%			11/02/2022		1,100				$	1		$			156
	Put - OTC 30-Year Interest Rate Swap		6-Month EUR-EURIBOR				Receive	0.197			11/04/2022		1,190					90					168
BRC	Put - OTC 30-Year Interest Rate Swap		6-Month EUR-EURIBOR				Receive	0.197			11/04/2022		710					53					100
MYC	Put - OTC 30-Year Interest Rate Swap		6-Month EUR-EURIBOR				Receive	0.190			11/02/2022		1,000					73					143
Total Purchased Options																	$	217		$			567
WRITTEN OPTIONS:
CREDIT DEFAULT SWAPTIONS ON CREDIT INDICES
Counterparty	Description					Buy/Sell Protection		Exercise Rate			Expiration Date		Notional Amount(1)					Premiums (Received)					Market Value
BOA	Put - OTC CDX.HY-36 5-Year Index					Sell		102.000%			11/17/2021		200				$	(1)		$			0
	Put - OTC CDX.HY-36 5-Year Index					Sell		103.000			11/17/2021		200					(1)					0
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.700			11/17/2021		1,100					(1)					(1)
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.800			11/17/2021		700					(1)					0
	Put - OTC iTraxx Europe 35 5-Year Index					Sell		0.700			12/15/2021		400					0					0
BPS	Put - OTC CDX.HY-36 5-Year Index					Sell		104.000			12/15/2021		200					(1)					(1)
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.750			11/17/2021		900					(1)					0
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.750			12/15/2021		800					(1)					(1)
BRC	Put - OTC CDX.IG-37 5-Year Index					Sell		0.850			01/19/2022		1,900					(2)					(2)
	Put - OTC iTraxx Crossover 35 5-Year Index					Sell		3.500			12/15/2021		200					(1)					(1)
	Put - OTC iTraxx Crossover 35 5-Year Index					Sell		3.500			01/19/2022		500					(2)					(3)
	Put - OTC iTraxx Crossover 36 5-Year Index					Sell		3.750			01/19/2022		200					(1)					(1)
	Put - OTC iTraxx Europe 35 5-Year Index					Sell		0.850			10/20/2021		880					(1)					0
	Put - OTC iTraxx Europe 35 5-Year Index					Sell		0.700			12/15/2021		2,800					(3)					(2)
	Put - OTC iTraxx Europe 36 5-Year Index					Sell		0.750			01/19/2022		600					(1)					(1)
CBK	Put - OTC iTraxx Crossover 35 5-Year Index					Sell		3.500			01/19/2022		200					(1)					(1)
DUB	Put - OTC CDX.HY-36 5-Year Index					Sell		101.000			11/17/2021		300					(1)					0
	Put - OTC CDX.HY-36 5-Year Index					Sell		102.000			01/19/2022		300					(1)					(1)
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.750			12/15/2021		600					(1)					0
	Put - OTC iTraxx Crossover 35 5-Year Index					Sell		3.500			12/15/2021		100					0					0
FBF	Put - OTC CDX.HY-36 5-Year Index					Sell		104.000			12/15/2021		200					(1)					(1)
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.800			12/15/2021		700					(1)					0
GST	Put - OTC CDX.HY-36 5-Year Index					Sell		102.000			11/17/2021		400					(2)					(1)
	Put - OTC CDX.HY-36 5-Year Index					Sell		101.000			12/15/2021		200					(1)					(1)
	Put - OTC CDX.HY-36 5-Year Index					Sell		104.000			12/15/2021		100					0					0
	Put - OTC CDX.HY-36 5-Year Index					Sell		102.000			01/19/2022		200					(1)					(1)
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.750			11/17/2021		400					0					0
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.800			12/15/2021		600					(1)					0
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.725			01/19/2022		900					(1)					(1)
JPM	Put - OTC CDX.HY-37 5-Year Index					Sell		101.000			12/15/2021		200					(1)					(1)
	Put - OTC iTraxx Crossover 35 5-Year Index					Sell		3.500			01/19/2022		100					(1)					(1)
	Put - OTC iTraxx Europe 35 5-Year Index					Sell		0.700			12/15/2021		600					(1)					0
MYC	Put - OTC CDX.IG-36 5-Year Index					Sell		0.750			11/17/2021		2,200					(2)					(1)
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.750			12/15/2021		2,700					(2)					(2)
	Put - OTC CDX.IG-36 5-Year Index					Sell		0.800			12/15/2021		900					(1)					(1)
																	$	(38)		$			(26)
INFLATION-CAPPED OPTIONS
Counterparty	Description		Initial Index	Floating Rate							Expiration Date	Notional Amount(1)						Premiums (Received)					Market Value
GLM	Cap - OTC CPALEMU		100.151	Maximum of [(Final Index/Initial Index - 1) - 3.000%] or 0							06/22/2035		1,200				$	(54)		$			(2)
JPM	Cap - OTC CPURNSA		233.916	Maximum of [(Final Index/Initial Index - 1) - 4.000%] or 0							04/22/2024		6,500					(47)					0
	Cap - OTC CPURNSA		234.781	Maximum of [(Final Index/Initial Index - 1) - 4.000%] or 0							05/16/2024		500					(4)					0
																	$	(105)		$			(2)

Schedule of Investments PIMCO Fixed Income SHares: Series R(Cont.) September 30, 2021 (Unaudited)

INTEREST RATE SWAPTIONS
Counterparty		Description	Floating Rate Index		Pay/Receive Floating Rate			Exercise Rate		Expiration Date		Notional Amount(1)			Premiums (Received)			Market Value
BPS		Put - OTC 10-Year Interest Rate Swap	6-Month EUR-EURIBOR		Pay			0.000%		11/02/2022		3,300		$	0		$	(151)
		Put - OTC 10-Year Interest Rate Swap	6-Month EUR-EURIBOR		Pay			0.000		11/04/2022		3,640			(90)			(167)
BRC		Put - OTC 10-Year Interest Rate Swap	6-Month EUR-EURIBOR		Pay			0.000		11/04/2022		2,160			(53)			(99)
GLM		Call - OTC 1-Year Interest Rate Swap	6-Month EUR-EURIBOR		Receive			0.526		11/17/2022		22,500			(35)			(6)
MYC		Put - OTC 10-Year Interest Rate Swap	6-Month EUR-EURIBOR		Pay			0.000		11/02/2022		3,200			(78)			(146)
														$	(256)		$	(569)
OPTIONS ON SECURITIES
Counterparty		Description				Strike Price			Expiration Date			Notional Amount(1)			Premiums (Received)			Market Value
BOA		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 11/01/2051		$		101.578			11/03/2021			100		$	(1)		$	0
GSC		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 11/01/2051				101.531			11/03/2021			300			(1)			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 11/01/2051				101.609			11/03/2021			100			0			0
		Put - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 12/01/2051				98.555			12/06/2021			300			(1)			(1)
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 12/01/2051				100.555			12/06/2021			300			(1)			(1)
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.500% due 10/01/2051				103.602			10/07/2021			100			0			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.500% due 10/01/2051				103.813			10/07/2021			100			0			0
JPM		Put - OTC Ginnie Mae, TBA 2.500% due 10/01/2051				102.430			10/14/2021			200			(1)			0
		Put - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 10/01/2051				100.672			10/07/2021			100			0			(1)
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 10/01/2051				101.188			10/07/2021			100			(1)			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 10/01/2051				101.688			10/07/2021			300			(1)			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 10/01/2051				101.734			10/07/2021			200			0			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 10/01/2051				102.672			10/07/2021			100			0			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 11/01/2051				100.219			11/03/2021			300			(1)			(1)
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 11/01/2051				101.336			11/03/2021			100			(1)			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 11/01/2051				101.473			11/03/2021			100			0			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 11/01/2051				101.531			11/03/2021			100			0			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 11/01/2051				101.547			11/03/2021			100			0			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.000% due 11/01/2051				101.563			11/03/2021			100			0			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.500% due 10/01/2051				103.734			10/07/2021			150			(1)			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.500% due 10/01/2051				103.766			10/07/2021			150			(1)			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.500% due 10/01/2051				103.906			10/07/2021			100			0			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.500% due 10/01/2051				104.320			10/07/2021			200			(1)			0
		Call - OTC Uniform Mortgage-Backed Security, TBA 2.500% due 11/01/2051				103.375			11/03/2021			500			(2)			(1)
		Put - OTC Uniform Mortgage-Backed Security, TBA 3.000% due 12/01/2051				103.988			12/06/2021			200			0			(1)
														$	(14)		$	(6)
Total Written Options														$	(413)		$	(603)
(1)	Notional Amount represents the number of contracts.
FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 in valuing the Portfolio's assets and liabilities:
Category and Subcategory							Level 1				Level 2		Level 3			Fair Value at 09/30/2021

Schedule of Investments PIMCO Fixed Income SHares: Series R(Cont.) September 30, 2021 (Unaudited)

Investments in Securities, at Value
Corporate Bonds & Notes
	Banking & Finance	$	0	$	16,729	$	0	$	16,729
	Utilities		0		362		0		362
U.S. Government Agencies			0		10,201		0		10,201
U.S. Treasury Obligations			0		269,593		0		269,593
Non-Agency Mortgage-Backed Securities			0		3,373		0		3,373
Asset-Backed Securities			0		7,386		0		7,386
Sovereign Issues			0		44,045		0		44,045
Short-Term Instruments
	Repurchase Agreements		0		1,638		0		1,638
Total Investments		$	0	$	353,327	$	0	$	353,327
Financial Derivative Instruments - Assets
Exchange-traded or centrally cleared			175		248		0		423
Over the counter			0		2,074		0		2,074
		$	175	$	2,322	$	0	$	2,497
Financial Derivative Instruments - Liabilities
Exchange-traded or centrally cleared			(81)		(86)		0		(167)
Over the counter			(1)		(836)		0		(837)
		$	(82)	$	(922)	$	0	$	(1,004)
Total Financial Derivative Instruments		$	93	$	1,400	$	0	$	1,493
Totals		$	93	$	354,727	$	0	$	354,820
There were no significant transfers into or out of Level 3 during the period ended September 30, 2021.

Schedule of Investments PIMCO Fixed Income SHares: Series TE September 30, 2021 (Unaudited)

(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)
		PRINCIPAL AMOUNT (000s)		MARKET VALUE (000s)
INVESTMENTS IN SECURITIES 93.8% ¤
MUNICIPAL BONDS & NOTES 93.2%
ALABAMA 0.8%
Lower Alabama Gas District Revenue Bonds, Series 2016 5.000% due 09/01/2046	$	500	$	712
ARIZONA 1.6%
Industrial Development Authority of the City of Phoenix, Arizona Revenue Notes, Series 2018 5.000% due 07/01/2028		250		306
Salt River Project Agricultural Improvement & Power District, Arizona Revenue Bonds, Series 2012 5.000% due 12/01/2030		1,000		1,032
				1,338
CALIFORNIA 6.0%
Bay Area Toll Authority, California Revenue Bonds, Series 2013 5.000% due 04/01/2038		2,000		2,144
California Health Facilities Financing Authority Revenue Bonds, Series 2016 5.000% due 11/15/2046 (b)		3,000		1,345
Golden State Tobacco Securitization Corp., California Revenue Bonds, Series 2018 5.000% due 06/01/2030		7,50		1,599
				5,087
COLORADO 4.1%
Colorado Health Facilities Authority Revenue Bonds, Series 2013 5.000% due 12/01/2033		2,125		2,325
Colorado Health Facilities Authority Revenue Bonds, Series 2019 4.000% due 08/01/2049		1,000		1,122
				3,447
CONNECTICUT 1.5%
Connecticut Special Tax State Revenue Bonds, Series 2018 5.000% due 01/01/2029		110		137
Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2014 5.000% due 07/01/2026		1,000		1,119
				1,256
FLORIDA 3.0%
Broward County, Florida Airport System Revenue Bonds, Series 2012 5.000% due 10/01/2037		1,300		1,363
Miami-Dade County, Florida Water & Sewer System Revenue Bonds, Series 2013 5.000% due 10/01/2028		555		608
Osceola County, Florida Transportation Revenue Notes, Series 2020 0.000% due 10/01/2029 (a)		700		603
				2,574
GEORGIA 2.8%
Houston Healthcare System, Inc., Georgia Revenue Bonds, Series 2016 5.000% due 10/01/2031		1,555		1,729
Municipal Electric Authority of Georgia Revenue Bonds, Series 2019 5.000% due 01/01/2037		500		607
				2,336
ILLINOIS 15.5%
Chicago, Illinois General Obligation Bonds, Series 2002 5.500% due 01/01/2037		1,000		1,127
Chicago, Illinois General Obligation Bonds, Series 2017 5.750% due 01/01/2034		1,500		1,823
Chicago, Illinois General Obligation Notes, Series 2016 5.000% due 01/01/2024		1,000		1,096
Illinois Finance Authority Revenue Bonds, Series 2016 5.000% due 02/15/2032		795		959
Illinois State General Obligation Bonds, Series 2018 5.000% due 10/01/2033		1,000		1,206
Illinois State General Obligation Notes, Series 2017 5.000% due 12/01/2026		2,000		2,396

Schedule of Investments PIMCO Fixed Income SHares: Series TE(Cont.) September 30, 2021 (Unaudited)

Illinois State General Obligation Notes, Series 2020 5.500% due 05/01/2030	850	1,109
Illinois State Revenue Bonds, Series 2013 5.000% due 06/15/2026	1,000	1,072
Illinois State Revenue Bonds, Series 2016
3.000% due 06/15/2031	1,000	1,061
3.000% due 06/15/2034	1,180	1,242
		13,091
INDIANA 0.6%
Rockport, Indiana Revenue Bonds, Series 2009 3.050% due 06/01/2025	500	545
KANSAS 2.4%
Kansas Development Finance Authority Revenue Bonds, Series 2012 5.000% due 11/15/2034	2,000	2,058
KENTUCKY 1.6%
Kentucky Public Energy Authority Revenue Bonds, Series 2020 4.000% due 12/01/2050	1,170	1,338
LOUISIANA 0.8%
Parish of St John the Baptist, Louisiana Revenue Bonds, Series 2017 2.100% due 06/01/2037	650	671
MASSACHUSETTS 3.2%
Commonwealth of Massachusetts General Obligation Bonds, Series 2018 4.000% due 05/01/2041	500	576
Massachusetts State College Building Authority Revenue Bonds, Series 2014 5.000% due 05/01/2028	2,000	2,151
		2,727
MICHIGAN 6.3%
Detroit City School District, Michigan General Obligation Bonds, (AGM/Q-SBLF Insured), Series 2001 6.000% due 05/01/2029	385	472
Detroit, Michigan Sewage Disposal System Revenue Bonds, (AGM Insured), Series 2006 0.697% (US0003M) due 07/01/2032 ~	1,000	1,001
Michigan Finance Authority Revenue Notes, Series 2014 4.000% due 10/01/2024	2,000	2,142
Michigan Finance Authority Revenue Notes, Series 2016 5.000% due 04/01/2024	1,000	1,112
Michigan State Hospital Finance Authority Revenue Bonds, Series 2010 5.000% due 11/15/2047	500	623
		5,350
NEVADA 1.6%
Reno, Nevada Revenue Bonds, (AGM Insured), Series 2018 4.125% due 06/01/2058	1,250	1,380
NEW JERSEY 9.4%
Atlantic City, New Jersey General Obligation Bonds, (BAM Insured), Series 2017 5.000% due 03/01/2042	1,250	1,469
Atlantic City, New Jersey General Obligation Notes, (BAM Insured), Series 2017 5.000% due 03/01/2026	250	295
New Jersey Economic Development Authority Revenue Bonds, Series 2021 4.000% due 06/15/2037	700	821
New Jersey Economic Development Authority Revenue Notes, Series 2016 5.000% due 06/15/2022	1,500	1,549
New Jersey Economic Development Authority Revenue Notes, Series 2019 5.250% due 09/01/2026	250	301
New Jersey Health Care Facilities Financing Authority Revenue Bonds, Series 2013 5.250% due 07/01/2035	1,000	1,082
New Jersey Transportation Trust Fund Authority Revenue Bonds, Series 2020 4.000% due 06/15/2037	500	586
Tobacco Settlement Financing Corp., New Jersey Revenue Bonds, Series 2018
5.000% due 06/01/2029	500	624
5.000% due 06/01/2033	1,000	1,227
		7,954
NEW YORK 10.5%
Metropolitan Transportation Authority, New York Revenue Bonds, Series 2013 0.878% (0.67* US0001M + 0.820%) due 11/01/2026 ~	430	431
Metropolitan Transportation Authority, New York Revenue Bonds, Series 2017 5.000% due 11/15/2031	375	455
New York City Housing Development Corp. Revenue Bonds, Series 2013 5.250% due 07/01/2031	1,500	1,626
New York City Transitional Finance Authority Future Tax Secured, New York Revenue Bonds, Series 2019 5.000% due 05/01/2037	345	435

Schedule of Investments PIMCO Fixed Income SHares: Series TE(Cont.) September 30, 2021 (Unaudited)

New York State Dormitory Authority Revenue Bonds, Series 2016 5.000% due 07/01/2030	560	668
New York State Dormitory Authority Revenue Bonds, Series 2020 4.000% due 02/15/2040	500	583
New York State Energy Research & Development Authority Revenue Bonds, Series 1994 3.500% due 10/01/2029	1,000	1,154
Onondaga County, New York Trust for Cultural Resources Revenue Bonds, Series 2019 4.000% due 12/01/2049	420	488
TSASC, Inc., New York Revenue Bonds, Series 2017 5.000% due 06/01/2033	1,000	1,191
TSASC, Inc., New York Revenue Notes, Series 2017 5.000% due 06/01/2027	1,500	1,831
		8,862
OHIO 3.5%
Buckeye Tobacco Settlement Financing Authority, Ohio Revenue Bonds, Series 2020
4.000% due 06/01/2048	1,500	1,669
5.000% due 06/01/2034	1,000	1,264
		2,933
PENNSYLVANIA 3.8%
Commonwealth Financing Authority, Pennsylvania Revenue Bonds, Series 2018 5.000% due 06/01/2031	1,000	1,227
Delaware River Port Authority, Pennsylvania Revenue Notes, Series 2012 5.000% due 01/01/2023	1,000	1,056
Geisinger Authority, Pennsylvania Revenue Bonds, Series 2017 5.000% due 02/15/2045 (b)	250	419
Pennsylvania Economic Development Financing Authority Revenue Bonds, Series 2013 5.000% due 07/01/2043	500	537
		3,239
PUERTO RICO 1.2%
Puerto Rico Electric Power Authority Revenue Bonds, (AGM Insured), Series 2007 0.617% (0.67*US0003M + 0.520%) due 07/01/2029 ~	1,010	1,003
TENNESSEE 0.3%
Tennessee Energy Acquisition Corp. Revenue Bonds, Series 2006 5.250% due 09/01/2024	200	227
TEXAS 9.8%
Irving Hospital Authority, Texas Revenue Bonds, Series 2017 1.150% (MUNIPSA + 1.100%) due 10/15/2044 ~	950	954
North Texas Tollway Authority Revenue Bonds, Series 2018 5.000% due 01/01/2048	1,000	1,190
SA Energy Acquisition Public Facility Corp., Texas Revenue Bonds, Series 2007 5.500% due 08/01/2025	1,000	1,179
Texas Municipal Gas Acquisition & Supply Corp. Revenue Bonds, Series 2008 6.250% due 12/15/2026	3,800	4,419
Texas Municipal Gas Acquisition and Supply Corp. I Revenue Bonds, Series 2006 1.528% (US0003M) due 12/15/2026 ~	500	500
		8,242
WASHINGTON 1.6%
Seattle, Washington Municipal Light and Power Revenue Bonds, Series 2018 4.000% due 01/01/2040 (b)	500	195
Washington Health Care Facilities Authority Revenue Bonds, Series 2019 4.000% due 08/01/2044	1,000	1,134
		1,330
WISCONSIN 1.3%
WPPI Energy, Wisconsin Revenue Bonds, Series 2013 5.000% due 07/01/2025	1,000	1,084

Schedule of Investments PIMCO Fixed Income SHares: Series TE(Cont.) September 30, 2021 (Unaudited)

Total Municipal Bonds & Notes (Cost $71,194)			78,784
SHORT-TERM INSTRUMENTS 0.6%
REPURCHASE AGREEMENTS (c) 0.6%			477
Total Short-Term Instruments (Cost $477)			477
Total Investments in Securities (Cost $71,671)			79,261
	SHARES
INVESTMENTS IN AFFILIATES 5.3%
SHORT-TERM INSTRUMENTS 5.3%
CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 5.3%
PIMCO Short-Term Floating NAV Portfolio III	457,330		4,510
Total Short-Term Instruments (Cost $4,510)			4,510
Total Investments in Affiliates (Cost $4,510)			4,510
Total Investments 99.1% (Cost $76,181)		$	83,771
Other Assets and Liabilities, net 0.9%			765
Net Assets 100.0%		$	84,536

Schedule of Investments PIMCO Fixed Income SHares: Series TE(Cont.) September 30, 2021 (Unaudited)

NOTES TO SCHEDULE OF INVESTMENTS:
* A zero balance may reflect actual amounts rounding to less than one thousand.
¤		The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.
~		Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.
(a)		Zero coupon security.
(b)		Represents an underlying municipal bond transferred to a tender option bond trust established in a tender option bond transaction in which the Portfolio sold, or caused the sale of, the underlying municipal bond and purchased the residual interest certificate. The security serves as collateral in a financing transaction.
BORROWINGS AND OTHER FINANCING TRANSACTIONS
(c)		REPURCHASE AGREEMENTS:
Counterparty			Lending Rate	Settlement Date	Maturity Date		Principal Amount		Collateralized By						Collateral (Received)				Repurchase Agreements, at Value			Repurchase Agreement Proceeds to be Received
FICC			0.000%	09/30/2021	10/01/2021	$	477		U.S. Treasury Notes 1.625% due 12/15/2022					$		(487)		$		477	$		477
Total Repurchase Agreements														$		(487)		$		477	$		477
FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 in valuing the Portfolio's assets and liabilities:
Category and Subcategory								Level 1			Level 2		Level 3				Fair Value at 09/30/2021
Investments in Securities, at Value
Municipal Bonds & Notes
	Alabama							$		0	$	712	$	0			$			712
	Arizona									0		1,338		0						1,338
	California									0		5,087		0						5,087
	Colorado									0		3,447		0						3,447
	Connecticut									0		1,256		0						1,256
	Florida									0		2,574		0						2,574
	Georgia									0		2,336		0						2,336
	Illinois									0		13,091		0						13,091
	Indiana									0		545		0						545
	Kansas									0		2,058		0						2,058
	Kentucky									0		1,338		0						1,338
	Louisiana									0		671		0						671
	Massachusetts									0		2,727		0						2,727
	Michigan									0		5,350		0						5,350
	Nevada									0		1,380		0						1,380
	New Jersey									0		7,954		0						7,954
	New York									0		8,862		0						8,862
	Ohio									0		2,933		0						2,933
	Pennsylvania									0		3,239		0						3,239
	Puerto Rico									0		1,003		0						1,003
	Tennessee									0		227		0						227
	Texas									0		8,242		0						8,242
	Washington									0		1,330		0						1,330
	Wisconsin									0		1,084		0						1,084
Short-Term Instruments
	Repurchase Agreements									0		477		0						477
								$		0	$	79,261	$	0			$			79,261
Investments in Affiliates, at Value
Short-Term Instruments
	Central Funds Used for Cash Management Purposes							$		4,510	$	0	$	0			$			4,510
Total Investments								$		4,510	$	79,261	$	0			$			83,771
There were no significant transfers into or out of Level 3 during the period ended September 30, 2021.

Notes to Financial Statements

1. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS

(a) Investment Valuation Policies The price of a Portfolio's shares is based on the Portfolio’s net asset value (“NAV”). The NAV of a Portfolio, or each of its share classes, as applicable, is determined by dividing the total value of portfolio investments and other assets attributable to that Portfolio or class less any liabilities by the total number of shares outstanding of that Portfolio or class.

On each day that the New York Stock Exchange (“NYSE”) is open, Portfolio 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 Portfolios or their agents after the time as of which NAV has been calculated on a particular day will not generally be used to retroactively adjust the price of a security or the NAV determined earlier that day. If regular trading on the NYSE closes earlier than scheduled, each Portfolio reserves the right to either (i) calculate its NAV as of the earlier closing time or (ii) calculate its NAV as of the normally scheduled close of regular trading on the NYSE for that day. Each Portfolio generally does not calculate its NAV on days during which the NYSE is closed. However, if the NYSE is closed on a day it would normally be open for business, each Portfolio reserves the right to calculate its NAV as of the normally scheduled close of regular trading on the NYSE for that day or such other time that the Portfolio may determine.

For purposes of calculating NAV, portfolio securities and other assets for which market quotes are readily available are valued at market value. Market value is generally determined on the basis of official closing prices or the last reported sales prices, or if no sales are reported, based on quotes obtained from established market makers or prices (including evaluated prices) supplied by the Portfolios’ approved pricing services, quotation reporting systems and other third-party sources (together, “Pricing Services”). The Portfolios 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. If market value pricing is used, 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 the “Adviser”) to be the primary exchange. 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. 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 Services using such data reflecting the principal markets for those securities. Prices obtained from Pricing Services 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. Exchange-traded options, except equity options, futures and options on futures are valued at the settlement price determined by the relevant exchange, quotes obtained from a quotation reporting system, established market makers or pricing services. Swap agreements are valued on the basis of market-based prices supplied by Pricing Services or quotes obtained from brokers and dealers. A Portfolio’s investments in open-end management investment companies, other than exchange-traded funds (“ETFs”), are valued at the NAVs of such investments.

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 based on procedures established and approved by the Board of Trustees of the Trust (the “Board”). Foreign (non-U.S.) equity securities that do not trade when the NYSE is open are also valued at fair value. With respect to foreign (non-U.S.) equity securities, a Portfolio may determine the fair value of investments based on information provided by Pricing Services and other third-party vendors, which may recommend fair value or adjustments with reference to other securities, indices or assets. In considering whether fair valuation is required and in determining fair values, a Portfolio may, among other things, consider significant events (which may be considered to include changes in the value of U.S. securities or securities indices) that occur after the close of the relevant market and before the NYSE Close. A Portfolio may utilize modeling tools provided by third-party vendors to determine fair values of foreign (non-U.S.) securities. For these purposes, 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 a Portfolio is not open for business, which may result in a Portfolio's portfolio investments being affected when shareholders are unable to buy or sell shares.

Senior secured floating rate loans for which an active secondary market exists to a reliable degree are valued at the mean of the last available bid/ask prices in the market for such loans, as provided by a Pricing Service. Senior secured floating rate loans for which an active secondary market does not exist to a reliable degree are valued at fair value, which is intended to approximate market value. In valuing a senior secured floating rate loan at fair value, the factors considered may include, but are not limited to, the following: (a) the creditworthiness of the borrower and any intermediate participants, (b) the terms of the loan, (c) recent prices in the market for similar loans, if any, and (d) recent prices in the market for instruments of similar quality, rate, period until next interest rate reset and maturity.

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

Investments for which market quotes or market based valuations are not readily available are valued at fair value as determined in good faith by the Board or persons acting at their direction. The Board has adopted methods for valuing securities and other assets in circumstances where market quotes are not readily available, and has delegated to PIMCO the responsibility for applying the fair valuation methods. In the event that market quotes or market based valuations are not readily available, and the security or asset cannot be valued pursuant to a Board approved valuation method, the value of the security or asset will be determined in good faith by the Board. Market quotes are considered not readily available in circumstances where there is an absence of current or reliable market-based data (e.g., trade information, bid/ask information, indicative market quotations (“Broker Quotes”), Pricing Services’ prices), including where events occur after the close of the relevant market, but prior to the NYSE Close, that materially affect the values of a Portfolio's securities or assets. In addition, market quotes are considered not readily available when, due to extraordinary circumstances, the exchanges or markets on which the securities trade do not open for trading for the entire day and no other market prices are available. The Board has delegated, to the Adviser, the responsibility for monitoring significant events that may materially affect the values of a Portfolio's securities or assets and for determining whether the value of the applicable securities or assets should be reevaluated in light of such significant events.

When a Portfolio uses fair valuation to determine the value of a portfolio security or other asset for purposes of calculating its NAV, such investments will not be priced on the basis of quotes from the primary market in which they are traded, but rather may be priced by another method that the Board or persons acting at their direction believe reflects fair value. Fair valuation may require subjective determinations about the value of a security. While the Trust's policy is intended to result in a calculation of a Portfolio's NAV that fairly reflects security values as of the time of pricing, the Trust cannot ensure that fair values determined by the Board or persons acting at their direction would accurately reflect the price that a Portfolio could obtain for a security if it were to dispose of that security as of the time of pricing (for instance, in a forced or distressed sale). The prices used by a Portfolio may differ from the value that would be realized if the securities were sold.

Notes to Financial Statements (Cont.)

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

• Level 1 — Quoted prices 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 Board or persons acting at their direction that are used in determining the fair value of investments.

In accordance with the requirements of U.S. GAAP, the amounts of transfers into and out of Level 3, if material, are disclosed in the Notes to Schedule of Investments for each respective Portfolio.

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 Levels of a Portfolio's assets and liabilities. Additionally, U.S. GAAP requires quantitative information regarding the significant unobservable inputs used in the determination of fair value of assets or liabilities categorized as Level 3 in the fair value hierarchy. In accordance with the requirements of U.S. GAAP, a fair value hierarchy, and if material, a Level 3 reconciliation and details of significant unobservable inputs, have been included in the Notes to Schedule of Investments for each respective Portfolio.

(c) Valuation Techniques and the Fair Value Hierarchy

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

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 and non-U.S. bonds are normally valued on the basis of quotes obtained from brokers and dealers or Pricing Services that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. The Pricing Services' 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 Services 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.

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 valued (denominated) in currencies other than the U.S. dollar are converted to the U.S. dollar using exchange rates (currency spot and forward rates) obtained from Pricing Services. As a result, the NAV of a Portfolio’s shares may be affected by changes in the value of currencies in relation to the U.S. dollar. The value of securities 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.

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 Services that consider the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments. Securities using these valuation adjustments are categorized as Level 2 of the fair value hierarchy. Preferred securities and other equities traded on inactive markets or valued by reference to similar instruments are also categorized as Level 2 of the fair value hierarchy.

Valuation adjustments may be applied to certain exchange traded futures and options to account for market movement between the exchange settlement and the NYSE close. These securities are valued using quotes obtained from a quotation reporting system, established market makers or pricing services. 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, indices, 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 Services (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 Services 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, indices, 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.

Notes to Financial Statements (Cont.)

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

Centrally cleared swaps and over the counter swaps derive their value from underlying asset prices, indices, 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 Services (normally determined as of the NYSE Close). Centrally cleared swaps and over the counter swaps can be valued by Pricing Services 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, London Interbank Offered Rate forward rate, interest rates, yield curves and credit spreads. These securities are categorized as Level 2 of the fair value hierarchy.

When a fair valuation method is applied by PIMCO that uses significant unobservable inputs, investments will be priced by a method that the Board or persons acting at their direction believe reflects fair value and are categorized as Level 3 of the fair value hierarchy.

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

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

Short-term debt instruments (such as commercial paper) 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.

2. FEDERAL INCOME TAX MATTERS

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

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

In accordance with U.S. GAAP, the Adviser has reviewed the Portfolios' tax positions for all open tax years. As of September 30, 2021, the Portfolios have recorded no liability for net unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in future tax returns.

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

3. INVESTMENTS IN AFFILIATES

Each Portfolio may invest in the PIMCO Short Asset Portfolio and the PIMCO Short-Term Floating NAV Portfolio III ("Central Funds") to the extent permitted by the Act and rules thereunder. The Central Funds are registered investment companies created for use solely by the series of the Trust and other series of registered investment companies advised by the Adviser, in connection with their cash management activities. The main investments of the Central Funds are money market and short maturity fixed income instruments. The Central Funds may incur expenses related to their investment activities, but do not pay Investment Advisory Fees or Supervisory and Administrative Fees to the Adviser. The Central Funds are considered to be affiliated with the Portfolios. A copy of each affiliate fund’s shareholder report is available at the U.S Securities and Exchange Commission (“SEC”) website at www.sec.gov, on the Portfolios’ website at www.pimco.com, or upon request, as applicable. The table below shows the Portfolios' transactions in and earnings from these affiliated issuers for the period ended September 30, 2021 (amounts in thousands†):

Investments in PIMCO Short-Term Floating NAV Portfolio III

Portfolio Name		Market Value 12/31/2020		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Market Value 09/30/2021		Dividend Income(1)		Realized Net Capital Gain Distributions(1)
PIMCO Fixed Income SHares: Series C	$	1,404	$	99,104	$	(100,400)	$	0	$	(1)	$	107	$	3	$	0
PIMCO Fixed Income SHares: Series LD		2,809		76,101		(78,800)		0		0		110		1		0
PIMCO Fixed Income SHares: Series M		154		16,703		(16,700)		(1)		0		156		3		0

Notes to Financial Statements (Cont.)

PIMCO Fixed Income SHares: Series TE 502 8,204 (4,197) 1 0 4,510 4 0

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

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

Glossary: (abbreviations that may be used in the preceding statements)					(Unaudited)
Counterparty Abbreviations:
BCY	Barclays Capital, Inc.	FOB	Credit Suisse Securities (USA) LLC	RDR	RBC Capital Markets LLC
BOA	Bank of America N.A.	GLM	Goldman Sachs Bank USA	RYL	NatWest Markets Plc
BOS	BofA Securities, Inc.	GRE	NatWest Markets Securities Inc.	SAL	Citigroup Global Markets, Inc.
BPG	BNP Paribas Securities Corp.	GSC	Goldman Sachs & Co. LLC	SCX	Standard Chartered Bank, London
BPS	BNP Paribas S.A.	GST	Goldman Sachs International	SGY	Societe Generale, NY
BRC	Barclays Bank PLC	HUS	HSBC Bank USA N.A.	SOG	Societe Generale Paris
BSN	The Bank of Nova Scotia - Toronto	JPM	JP Morgan Chase Bank N.A.	SSB	State Street Bank and Trust Co.
CBK	Citibank N.A.	JPS	J.P. Morgan Securities LLC	TDL	Toronto Dominion Bank London
CSN	Credit Suisse AG (New York)	MYC	Morgan Stanley Capital Services LLC	TDM	TD Securities (USA) LLC
DEU	Deutsche Bank Securities, Inc.	MYI	Morgan Stanley & Co. International PLC	TOR	The Toronto-Dominion Bank
DUB	Deutsche Bank AG	NOM	Nomura Securities International Inc.	UAG	UBS AG Stamford
FBF	Credit Suisse International	RCY	Royal Bank of Canada	UBS	UBS Securities LLC
FICC	Fixed Income Clearing Corporation
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	RUB	Russian Ruble
CHF	Swiss Franc	JPY	Japanese Yen	SEK	Swedish Krona
CNH	Chinese Renminbi (Offshore)	KRW	South Korean Won	SGD	Singapore Dollar
COP	Colombian Peso	MXN	Mexican Peso	TWD	Taiwanese Dollar
DKK	Danish Krone	NOK	Norwegian Krone	USD (or $)	United States Dollar
EUR	Euro	NZD	New Zealand Dollar	ZAR	South African Rand
GBP	British Pound
Exchange Abbreviations:
OTC	Over the Counter
Index/Spread Abbreviations:
BBSW3M	3 Month Bank Bill Swap Rate	CPURNSA	Consumer Price All Urban Non-Seasonally Adjusted Index	SIBCSORA	Singapore Overnight Rate Average
CDX.HY	Credit Derivatives Index - High Yield	FRCPXTOB	France Consumer Price ex-Tobacco Index	UKRPI	United Kingdom Retail Prices Index
CDX.IG	Credit Derivatives Index - Investment Grade	H15T1Y	1 Year US Treasury Yield Curve Constant Maturity Rate	US0001M	ICE 1-Month USD LIBOR
CPALEMU	Euro Area All Items Non-Seasonally Adjusted Index	LIBOR03M	3 Month USD-LIBOR	US0003M	ICE 3-Month USD LIBOR
CPTFEMU	Eurozone HICP ex-Tobacco Index	MUNIPSA	Securities Industry and Financial Markets Association (SIFMA) Municipal Swap Index
Municipal Bond or Agency Abbreviations:
ACA	American Capital Access Holding Ltd.	BAM	Build America Mutual Assurance	Q-SBLF	Qualified School Bond Loan Fund
AGM	Assured Guaranty Municipal
Other Abbreviations:
ABS	Asset-Backed Security	CLO	Collateralized Loan Obligation	oz.	Ounce
ALT	Alternate Loan Trust	DAC	Designated Activity Company	PIK	Payment-in-Kind
BABs	Build America Bonds	EURIBOR	Euro Interbank Offered Rate	REMIC	Real Estate Mortgage Investment Conduit
BBR	Bank Bill Rate	LIBOR	London Interbank Offered Rate	TBA	To-Be-Announced
BBSW	Bank Bill Swap Reference Rate	OAT	Obligations Assimilables du Trésor	TBD	To-Be-Determined
BTP	Buoni del Tesoro Poliennali "Long-term Treasury Bond"	OIS	Overnight Index Swap	TBD%	Interest rate to be determined when loan settles or at the time of funding
CDI	Brazil Interbank Deposit Rate