MA R C H 31, 2024 ( U N A U D I T E D )
PIMCO California Municipal Income Fund
Portfolio Holdings
PIMCO California Municipal Income Fund
Notes to Financial Statements
Schedule of Investments PIMCO California Municipal Income Fund
March 31, 2024
(Unaudited)
(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY) | ||||
PRINCIPAL | MARKET | |||
AMOUNT | VALUE | |||
(000s) | (000s) | |||
INVESTMENTS IN SECURITIES 170.7% ¤ | ||||
MUNICIPAL BONDS & NOTES 169.8% | ||||
ARIZONA 0.0% | ||||
Arizona Industrial Development Authority Revenue Bonds, Series 2020 | ||||
7.750% due 07/01/2050 ^(a) | $ | 850 | $ | 51 |
CALIFORNIA 153.4% | ||||
Alameda Corridor Transportation Authority, California Revenue Bonds, (AGM Insured), Series 2024 | ||||
0.000% due 10/01/2052 (b) | 2,200 | 576 | ||
Alameda Corridor Transportation Authority, California Revenue Bonds, Series 2022 | ||||
0.000% due 10/01/2049 (c) | 2,890 | 1,597 | ||
Alhambra Unified School District, California General Obligation Bonds, Series 2022 | ||||
5.250% due 08/01/2047 | 870 | 977 | ||
Anaheim City School District, California General Obligation Bonds, (BAM Insured), Series 2023 | ||||
4.250% due 08/01/2050 | 2,500 | 2,517 | ||
Antelope Valley Community College District, California General Obligation Bonds, Series 2022 | ||||
0.000% due 08/01/2047 (b) | 680 | 211 | ||
Bay Area Toll Authority, California Revenue Bonds, Series 2017 | ||||
5.000% due 04/01/2056 | 1,750 | 1,871 | ||
Bay Area Toll Authority, California Revenue Bonds, Series 2023 | ||||
4.125% due 04/01/2054 | 1,700 | 1,688 | ||
Butte-Glenn Community College District, California General Obligation Bonds, Series 2022 | ||||
4.000% due 08/01/2047 | 1,500 | 1,493 | ||
California Community Choice Financing Authority Revenue Bonds, Series 2023 | ||||
5.250% due 11/01/2054 | 2,000 | 2,153 | ||
California Community Housing Agency Revenue Bonds, Series 2019 | ||||
5.000% due 04/01/2049 | 2,225 | 1,851 | ||
California Community Housing Agency Revenue Bonds, Series 2021 | ||||
4.000% due 02/01/2056 | 1,000 | 783 | ||
California Community Housing Agency Revenue Bonds, Series 2022 | ||||
4.500% due 08/01/2052 | 1,000 | 855 | ||
California County Tobacco Securitization Agency Revenue Bonds, Series 2002 | ||||
6.000% due 06/01/2035 | 1,660 | 1,662 | ||
California County Tobacco Securitization Agency Revenue Bonds, Series 2007 | ||||
0.000% due 06/01/2057 (b) | 7,000 | 1,068 | ||
California County Tobacco Securitization Agency Revenue Bonds, Series 2020 | ||||
0.000% due 06/01/2055 (b) | 4,700 | 917 | ||
California Educational Facilities Authority Revenue Bonds, Series 2018 | ||||
4.000% due 10/01/2039 | 1,250 | 1,256 | ||
5.000% due 10/01/2048 | 1,000 | 1,041 | ||
California Health Facilities Financing Authority Revenue Bonds, Series 2015 | ||||
5.000% due 08/15/2054 | 1,300 | 1,315 | ||
California Health Facilities Financing Authority Revenue Bonds, Series 2016 | ||||
5.000% due 11/15/2046 | 2,960 | 3,023 | ||
5.000% due 08/15/2055 | 6,000 | 6,113 | ||
California Health Facilities Financing Authority Revenue Bonds, Series 2017 | ||||
4.000% due 11/01/2038 | 1,400 | 1,417 | ||
4.000% due 11/01/2044 | 1,000 | 1,003 | ||
4.000% due 11/01/2051 | 2,500 | 2,479 | ||
California Health Facilities Financing Authority Revenue Bonds, Series 2020 | ||||
4.000% due 08/15/2050 | 4,000 | 3,934 | ||
California Health Facilities Financing Authority Revenue Bonds, Series 2021 | ||||
4.000% due 08/15/2048 | 2,500 | 2,450 | ||
California Health Facilities Financing Authority Revenue Bonds, Series 2024 | ||||
5.000% due 11/15/2044 | 1,700 | 1,927 | ||
California Housing Finance Revenue Bonds, Series 2024 | ||||
5.700% due 06/01/2054 | 1,300 | 1,301 | ||
California Infrastructure & Economic Development Bank Revenue Bonds, Series 2020 | ||||
0.000% due 01/01/2060 (b) | 5,250 | 410 | ||
4.000% due 11/01/2055 | 915 | 847 | ||
8.000% due 01/01/2050 | 1,650 | 1,684 | ||
California Municipal Finance Authority Certificates of Participation Bonds, (AGM Insured), Series 2022 | ||||
5.250% due 11/01/2052 | 1,700 | 1,897 | ||
California Municipal Finance Authority Revenue Bonds, (BAM Insured), Series 2021 | ||||
4.000% due 05/15/2046 | 700 | 682 | ||
California Municipal Finance Authority Revenue Bonds, Series 2018 | ||||
5.000% due 05/15/2043 | 500 | 517 | ||
5.000% due 06/01/2048 | 1,370 | 1,437 | ||
California Municipal Finance Authority Revenue Bonds, Series 2020 | ||||
4.100% due 10/01/2045 | 1,000 | 999 | ||
California Municipal Finance Authority Revenue Bonds, Series 2021 | ||||
4.000% due 09/01/2050 (d) | 1,200 | 1,034 |
Schedule of Investments PIMCO California Municipal Income Fund (Cont.)
March 31, 2024
(Unaudited)
California Municipal Finance Authority Revenue Bonds, Series 2024 | ||
6.000% due 01/01/2039 | 2,000 | 2,088 |
California Public Finance Authority Revenue Bonds, Series 2019 | ||
6.250% due 07/01/2054 | 1,350 | 1,409 |
California School Finance Authority Revenue Bonds, Series 2019 | ||
5.000% due 07/01/2054 | 1,000 | 1,003 |
California State General Obligation Bonds, (AGM Insured), Series 2007 | ||
5.250% due 08/01/2032 | 3,500 | 4,153 |
California State General Obligation Bonds, Series 2017 | ||
4.000% due 11/01/2047 | 2,750 | 2,752 |
California State General Obligation Bonds, Series 2018 | ||
5.000% due 10/01/2047 | 1,275 | 1,311 |
California State General Obligation Bonds, Series 2021 | ||
5.000% due 09/01/2041 | 1,500 | 1,669 |
California State General Obligation Bonds, Series 2022 | ||
4.000% due 09/01/2042 | 1,350 | 1,386 |
4.000% due 04/01/2049 | 2,250 | 2,261 |
California State General Obligation Bonds, Series 2023 | ||
4.000% due 09/01/2043 | 1,800 | 1,845 |
California State University Revenue Bonds, Series 2015 | ||
5.000% due 11/01/2047 | 8,000 | 8,170 |
California State University Revenue Bonds, Series 2023 | ||
5.000% due 11/01/2044 | 1,000 | 1,141 |
California Statewide Communities Development Authority Revenue Bonds, (AGM Insured), Series 2022 | ||
5.375% due 08/15/2057 | 1,000 | 1,091 |
California Statewide Communities Development Authority Revenue Bonds, (CM Insured), Series 2018 | ||
4.000% due 07/01/2040 | 1,000 | 1,008 |
4.000% due 07/01/2043 | 350 | 349 |
4.000% due 07/01/2047 | 1,750 | 1,732 |
California Statewide Communities Development Authority Revenue Bonds, Series 2016 | ||
4.000% due 08/15/2051 | 225 | 214 |
5.000% due 12/01/2046 | 5,700 | 5,747 |
California Statewide Communities Development Authority Revenue Bonds, Series 2018 | ||
4.000% due 07/01/2048 | 1,000 | 982 |
5.000% due 03/01/2048 | 1,700 | 1,736 |
5.500% due 12/01/2058 | 1,775 | 1,824 |
California Statewide Communities Development Authority Revenue Bonds, Series 2019 | ||
4.250% due 11/01/2059 | 1,790 | 1,604 |
California Statewide Financing Authority Revenue Bonds, Series 2002 | ||
6.000% due 05/01/2037 | 1,935 | 1,974 |
Calistoga Joint Unified School District, California General Obligation Bonds, Series 2023 | ||
5.000% due 08/01/2052 | 1,445 | 1,599 |
Chino Valley Unified School District, California General Obligation Bonds, Series 2020 | ||
5.000% due 08/01/2055 | 2,000 | 2,142 |
Chino Valley Unified School District, California General Obligation Bonds, Series 2022 | ||
0.000% due 08/01/2036 (b) | 1,395 | 876 |
0.000% due 08/01/2042 (b) | 1,500 | 680 |
CMFA Special Finance Agency VII, California Revenue Bonds, Series 2021 | ||
3.000% due 08/01/2056 | 2,500 | 1,718 |
4.000% due 08/01/2047 | 595 | 491 |
CMFA Special Finance Agency, California Revenue Bonds, Series 2021 | ||
4.000% due 08/01/2045 | 750 | 631 |
Colton Joint Unified School District, California General Obligation Bonds, (BAM Insured), Series 2024 | ||
5.000% due 08/01/2049 | 1,500 | 1,669 |
Corona Norco Unified School District, California General Obligation Bonds, Series 2018 | ||
4.000% due 08/01/2047 | 1,650 | 1,650 |
CSCDA Community Improvement Authority, California Revenue Bonds, Series 2021 | ||
3.000% due 02/01/2057 | 500 | 354 |
3.400% due 10/01/2046 | 450 | 367 |
4.000% due 08/01/2056 | 250 | 215 |
4.000% due 10/01/2056 | 600 | 446 |
CSCDA Community Improvement Authority, California Revenue Bonds, Series 2022 | ||
0.000% due 09/01/2062 (c) | 2,000 | 1,082 |
Department of Veterans Affairs Veteran's Farm & Home Purchase Program, California Revenue Bonds, Series 2022 | ||
4.950% due 12/01/2046 | 340 | 352 |
Desert Community College District, California General Obligation Bonds, Series 2024 | ||
4.000% due 08/01/2051 | 1,250 | 1,245 |
East Bay Municipal Utility District Water System, California Revenue Bonds, Series 2024 | ||
5.000% due 06/01/2043 | 700 | 804 |
El Monte City School District, California General Obligation Bonds, (BAM Insured), Series 2023 | ||
5.000% due 08/01/2052 | 1,600 | 1,734 |
El Monte, California Certificates of Participation Bonds, (AMBAC Insured), Series 2001 | ||
5.250% due 01/01/2034 | 8,170 | 8,183 |
Elk Grove Finance Authority, California Special Tax Bonds, Series 2016 | ||
5.000% due 09/01/2046 | 1,000 | 1,008 |
Folsom Cordova Unified School District, California General Obligation Bonds, (AGM Insured), Series 2019 | ||
4.000% due 10/01/2044 | 1,315 | 1,290 |
Foothill-Eastern Transportation Corridor Agency, California Revenue Bonds, Series 2014 | ||
3.950% due 01/15/2053 | 860 | 790 |
Fresno Unified School District, California General Obligation Bonds, Series 2016 | ||
4.000% due 08/01/2046 | 2,410 | 2,355 |
Glendale Community College District, California General Obligation Bonds, Series 2020 | ||
4.000% due 08/01/2050 | 1,500 | 1,497 |
Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2018 | ||
5.000% due 06/01/2030 | 2,000 | 2,188 |
Schedule of Investments PIMCO California Municipal Income Fund (Cont.)
March 31, 2024
(Unaudited)
Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | ||
0.000% due 06/01/2066 (b) | 20,500 | 2,325 |
Hacienda La Puente Unified School District, California General Obligation Bonds, Series 2017 | ||
4.000% due 08/01/2047 | 2,000 | 1,979 |
Hartnell Community College District, California General Obligation Bonds, Series 2017 | ||
4.000% due 08/01/2042 | 3,400 | 3,415 |
Hastings Campus Housing Finance Authority, California Revenue Bonds, Series 2020 | ||
5.000% due 07/01/2061 | 2,000 | 1,703 |
Hayward Unified School District, California General Obligation Bonds, Series 2015 | ||
5.000% due 08/01/2038 | 2,000 | 2,009 |
Long Beach Bond Finance Authority, California General Obligation Bonds, Series 2023 | ||
4.000% due 08/01/2053 | 2,000 | 1,965 |
Long Beach Bond Finance Authority, California Revenue Bonds, Series 2007 | ||
5.500% due 11/15/2027 | 1,000 | 1,056 |
Los Angeles County, California Metropolitan Transportation Authority Sales Tax Revenue Bonds, Series 2021 | ||
4.000% due 06/01/2037 | 1,750 | 1,863 |
Los Angeles County, California Sanitation Districts Financing Authority Revenue Bonds, Series 2016 | ||
4.000% due 10/01/2042 | 1,500 | 1,503 |
Los Angeles Department of Airports, California Revenue Bonds, Series 2020 | ||
4.000% due 05/15/2050 | 2,185 | 2,085 |
Los Angeles Department of Airports, California Revenue Bonds, Series 2021 | ||
5.000% due 05/15/2048 | 2,500 | 2,716 |
Los Angeles Department of Water & Power Water System, California Revenue Bonds, Series 2022 | ||
5.000% due 07/01/2052 | 1,335 | 1,467 |
Los Angeles Unified School District, California General Obligation Bonds, Series 2022 | ||
5.250% due 07/01/2047 | 2,500 | 2,851 |
M-S-R Energy Authority, California Revenue Bonds, Series 2009 | ||
6.500% due 11/01/2039 | 10,345 | 13,179 |
Manteca Unified School District, California General Obligation Bonds, Series 2020 | ||
4.000% due 08/01/2045 | 880 | 874 |
Monterey Peninsula Unified School District, California General Obligation Bonds, Series 2019 | ||
4.000% due 08/01/2040 | 3,000 | 3,026 |
Mount San Jacinto Community College District, California General Obligation Bonds, Series 2018 | ||
4.000% due 08/01/2043 | 2,650 | 2,657 |
Municipal Improvement Corp. of Los Angeles, California Revenue Bonds, Series 2021 | ||
5.000% due 11/01/2038 | 2,000 | 2,299 |
Norwalk-La Mirada Unified School District, California General Obligation Bonds, Series 2019 | ||
4.000% due 08/01/2048 | 2,550 | 2,526 |
Oceanside Unified School District, California General Obligation Bonds, Series 2022 | ||
4.000% due 08/01/2041 | 1,020 | 1,042 |
Ontario International Airport Authority, California Revenue Bonds, (AGM Insured), Series 2021 | ||
4.000% due 05/15/2051 | 500 | 497 |
Ontario Montclair School District, California General Obligation Bonds, Series 2017 | ||
5.000% due 08/01/2046 | 1,650 | 1,726 |
Orange County, California Community Facilities District Special Tax Bonds, Series 2022 | ||
5.000% due 08/15/2052 | 1,275 | 1,296 |
Pacifica School District, California General Obligation Bonds, Series 2018 | ||
4.000% due 08/01/2048 | 1,750 | 1,722 |
Redwood City School District, California General Obligation Bonds, Series 2023 | ||
5.000% due 08/01/2052 | 1,900 | 2,109 |
Richmond, California Wastewater Revenue Bonds, Series 2019 | ||
4.000% due 08/01/2049 | 1,350 | 1,350 |
Rio Hondo Community College District, California General Obligation Bonds, Series 2022 | ||
0.000% due 08/01/2045 (b) | 1,650 | 606 |
River Islands Public Financing Authority, California Special Tax, (AGM Insured), Series 2022 | ||
4.250% due 09/01/2047 | 1,000 | 1,007 |
Riverside County, California Transportation Commission Revenue Bonds, Series 2013 | ||
0.000% due 06/01/2042 (b) | 1,000 | 459 |
Riverside County, California Transportation Commission Revenue Bonds, Series 2021 | ||
4.000% due 06/01/2038 | 1,125 | 1,148 |
4.000% due 06/01/2047 | 1,500 | 1,445 |
Riverside, California Electric Revenue Bonds, Series 2024 | ||
5.000% due 10/01/2049 | 2,500 | 2,810 |
Riverside, California Sewer Revenue Bonds, Series 2018 | ||
4.000% due 08/01/2038 | 4,250 | 4,313 |
Sacramento City Unified School District, California General Obligation Bonds, (AGM Insured), Series 2021 | ||
4.000% due 08/01/2049 | 1,400 | 1,366 |
Sacramento County, California Sanitation Districts Financing Authority Revenue Bonds, Series 2020 | ||
5.000% due 12/01/2050 | 1,000 | 1,093 |
Sacramento County, California Special Tax Bonds, Series 2022 | ||
5.000% due 09/01/2047 | 450 | 451 |
Sacramento Municipal Utility District, California Revenue Bonds, Series 2023 | ||
5.000% due 08/15/2048 | 500 | 561 |
Sacramento, California Special Tax Bonds, Series 2021 | ||
4.000% due 09/01/2050 | 1,500 | 1,315 |
San Bernardino Community College District, California General Obligation Bonds, Series 2023 | ||
5.000% due 08/01/2049 | 3,300 | 3,625 |
San Diego County, California Certificates of Participation Bonds, Series 2023 | ||
5.000% due 10/01/2053 | 3,350 | 3,691 |
San Diego County, California Regional Airport Authority Revenue Bonds, Series 2021 | ||
4.000% due 07/01/2051 | 2,750 | 2,629 |
5.000% due 07/01/2051 | 2,215 | 2,321 |
San Diego Public Facilities Financing Authority, California Revenue Bonds, Series 2022 | ||
5.000% due 05/15/2047 | 1,000 | 1,112 |
San Diego Unified School District, California General Obligation Bonds, Series 2020 | ||
4.000% due 07/01/2050 | 1,000 | 998 |
Schedule of Investments PIMCO California Municipal Income Fund (Cont.)
March 31, 2024
(Unaudited)
San Diego Unified School District, California General Obligation Bonds, Series 2023 | ||
4.000% due 07/01/2053 | 4,500 | 4,452 |
5.000% due 07/01/2048 | 1,000 | 1,123 |
San Francisco, California City & County Airport Comm-San Francisco International Airport Revenue Bonds, Series 2017 | ||
5.000% due 05/01/2047 | 2,625 | 2,726 |
San Francisco, California City & County Airport Comm-San Francisco International Airport Revenue Bonds, Series 2019 | ||
5.000% due 05/01/2039 | 2,000 | 2,183 |
5.000% due 05/01/2049 | 2,000 | 2,129 |
5.000% due 05/01/2050 | 1,900 | 2,020 |
San Francisco, California City & County General Obligation Bonds, Series 2022 | ||
5.000% due 06/15/2042 | 2,750 | 3,043 |
San Francisco, California City & County Public Utilities Commission Power Revenue Bonds, Series 2023 | ||
5.000% due 11/01/2048 | 1,700 | 1,909 |
San Francisco, California Public Utilities Commission Water Revenue Bonds, Series 2020 | ||
5.000% due 11/01/2050 | 1,100 | 1,201 |
San Francisco, California Public Utilities Commission Water Revenue Bonds, Series 2023 | ||
5.250% due 11/01/2052 | 1,250 | 1,428 |
San Jose Financing Authority, California Revenue Bonds, Series 2022 | ||
5.000% due 11/01/2052 | 1,700 | 1,893 |
San Juan Unified School District, California General Obligation Bonds, Series 2024 | ||
4.000% due 08/01/2049 | 1,700 | 1,683 |
San Mateo County, California Community College District General Obligation Bonds, (NPFGC Insured), Series 2006 | ||
0.000% due 09/01/2034 (b) | 3,000 | 2,166 |
San Mateo County, California Community College District General Obligation Bonds, Series 2018 | ||
5.000% due 09/01/2045 | 4,000 | 4,285 |
San Mateo Joint Powers Financing Authority, California Revenue Bonds, Series 2018 | ||
4.000% due 07/15/2052 | 1,650 | 1,620 |
Santa Clarita Community College District, California General Obligation Bonds, Series 2016 | ||
4.000% due 08/01/2046 | 2,000 | 1,974 |
Santa Monica, California Community College District General Obligation Bonds, Series 2022 | ||
4.000% due 08/01/2045 | 1,190 | 1,211 |
Silicon Valley Tobacco Securitization Authority, California Revenue Bonds, Series 2007 | ||
0.000% due 06/01/2036 (b) | 1,000 | 514 |
South San Francisco Unified School District, California General Obligation Bonds, Series 2023 | ||
4.000% due 09/01/2052 | 1,000 | 990 |
Southwestern Community College District, California General Obligation Bonds, Series 2021 | ||
4.000% due 08/01/2046 | 4,300 | 4,329 |
State Center Community College District, California General Obligation Bonds, Series 2022 | ||
5.000% due 08/01/2047 | 1,690 | 1,867 |
Sweetwater Union High School District, California General Obligation Bonds, Series 2022 | ||
5.000% due 08/01/2052 | 2,025 | 2,196 |
Tobacco Securitization Authority of Northern California Revenue Bonds, Series 2021 | ||
0.000% due 06/01/2060 (b) | 15,900 | 2,771 |
Tobacco Securitization Authority of Southern California Revenue Bonds, Series 2006 | ||
0.000% due 06/01/2046 (b) | 4,000 | 771 |
Tobacco Securitization Authority of Southern California Revenue Bonds, Series 2019 | ||
5.000% due 06/01/2048 | 1,750 | 1,823 |
University of California Revenue Bonds, Series 2018 | ||
5.000% due 05/15/2048 | 5,000 | 5,294 |
University of California Revenue Bonds, Series 2022 | ||
5.000% due 05/15/2052 | 5,100 | 5,599 |
Upland, California Certificates of Participation Bonds, Series 2017 | ||
4.000% due 01/01/2042 | 3,250 | 2,983 |
Victor Valley Community College District, California General Obligation Bonds, Series 2024 | ||
5.000% due 08/01/2051 | 660 | 726 |
Washington Township Health Care District, California General Obligation Bonds, Series 2015 | ||
4.000% due 08/01/2045 | 2,500 | 2,442 |
Washington Township Health Care District, California General Obligation Bonds, Series 2023 | ||
5.500% due 08/01/2053 | 1,350 | 1,517 |
West Valley-Mission Community College District, California General Obligation Bonds, Series 2022 | ||
4.000% due 08/01/2047 | 2,000 | 2,034 |
304,892 | ||
DELAWARE 1.4% | ||
Affordable Housing Opportunities Trust, Delaware Revenue Bonds, Series 2022 | ||
3.167% due 10/01/2038 | 2,720 | 2,361 |
7.120% due 10/01/2038 | 480 | 467 |
2,828 | ||
ILLINOIS 3.4% | ||
Chicago, Illinois General Obligation Bonds, Series 2007 | ||
5.500% due 01/01/2042 | 2,000 | 2,009 |
Chicago, Illinois General Obligation Bonds, Series 2017 | ||
6.000% due 01/01/2038 | 1,500 | 1,572 |
Illinois State General Obligation Bonds, Series 2020 | ||
4.125% due 10/01/2036 | 2,000 | 2,029 |
Schedule of Investments PIMCO California Municipal Income Fund (Cont.)
March 31, 2024
(Unaudited)
Illinois State General Obligation Notes, Series 2017 | ||
5.000% due 11/01/2027 | 1,000 | 1,063 |
6,673 | ||
NEW HAMPSHIRE 1.0% | ||
New Hampshire Business Finance Authority Revenue Bonds, Series 2023 | ||
4.817% due 12/20/2036 | 1,974 | 1,977 |
NEW YORK 0.3% | ||
New York Power Authority Revenue Bonds, Series 2020 | ||
4.000% due 11/15/2055 | 525 | 503 |
NORTH DAKOTA 0.0% | ||
Grand Forks County, North Dakota Revenue Bonds, Series 2021 | ||
7.000% due 12/15/2043 ^(a) | 650 | 20 |
PENNSYLVANIA 0.7% | ||
Pennsylvania Economic Development Financing Authority Revenue Bonds, Series 2021 | ||
9.000% due 04/01/2051 | 1,170 | 1,295 |
PUERTO RICO 8.6% | ||
Children's Trust Fund, Puerto Rico Revenue Bonds, Series 2008 | ||
0.000% due 05/15/2057 (b) | 20,400 | 1,558 |
Commonwealth of Puerto Rico Bonds, Series 2022 | ||
0.000% due 11/01/2043 | 2,164 | 1,253 |
0.000% due 11/01/2051 | 2,586 | 1,391 |
Commonwealth of Puerto Rico General Obligation Bonds, Series 2021 | ||
0.000% due 07/01/2033 (b) | 1,250 | 822 |
4.000% due 07/01/2041 | 1,200 | 1,133 |
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2018 | ||
0.000% due 07/01/2051 (b) | 25,500 | 5,978 |
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2019 | ||
4.784% due 07/01/2058 | 4,951 | 4,939 |
17,074 | ||
TEXAS 0.5% | ||
Angelina & Neches River Authority, Texas Revenue Bonds, Series 2021 | ||
7.500% due 12/01/2045 | 460 | 310 |
12.000% due 12/01/2045 | 800 | 702 |
1,012 | ||
VIRGINIA 0.5% | ||
Virginia Small Business Financing Authority Revenue Bonds, Series 2019 | ||
0.000% due 07/01/2061 (b) | 17,000 | 541 |
5.500% due 07/01/2044 | 500 | 458 |
999 | ||
Total Municipal Bonds & Notes (Cost $334,640) | 337,324 | |
U.S. GOVERNMENT AGENCIES 0.9% | ||
Freddie Mac | ||
3.720% due 01/01/2041 | 1,998 | 1,881 |
Total U.S. Government Agencies (Cost $1,842) | 1,881 | |
Total Investments in Securities (Cost $336,482) | 339,205 | |
Total Investments 170.7% (Cost $336,482) | $ | 339,205 |
Auction Rate Preferred Shares (55.3)% | (109,900) | |
Remarketable Variable Rate MuniFund Term Preferred Shares, at liquidation value (17.4)% | (34,511) | |
Other Assets and Liabilities, net 2.0% | 3,924 | |
Net Assets Applicable to Common Shareholders 100.0% | $ | 198,718 |
Schedule of Investments PIMCO California Municipal Income Fund (Cont.)
March 31, 2024
(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 is not accruing income as of the date of this report.
- Zero coupon security.
- Security becomes interest bearing at a future date.
- RESTRICTED SECURITIES:
Market Value | ||||||||
as Percentage | ||||||||
of Net Assets | ||||||||
Applicable to | ||||||||
Maturity | Acquisition | Market | Common | |||||
Issuer Description | Coupon | Date | Date | Cost | Value | Shareholder | ||
California Municipal Finance Authority Revenue Bonds, Series 2021 | 4.000% | 09/01/2050 | 08/03/2022 | $ | 1,089 | $ | 1,034 | 0.52% |
BORROWINGS AND OTHER FINANCING TRANSACTIONS |
FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2024 in valuing the Fund's assets and liabilities:
Fair Value | ||||
Category and Subcategory | Level 1 | Level 2 | Level 3 | at 03/31/2024 |
..................................................................................................................................................................................................................................................................................................................................
Investments in Securities, at Value | ||||||||
Municipal Bonds & Notes | ||||||||
Arizona | $ | 0 | $ | 51 | $ | 0 | $ | 51 |
California | 0 | 304,892 | 0 | 304,892 | ||||
Delaware | 0 | 2,828 | 0 | 2,828 | ||||
Illinois | 0 | 6,673 | 0 | 6,673 | ||||
New Hampshire | 0 | 1,977 | 0 | 1,977 | ||||
New York | 0 | 503 | 0 | 503 | ||||
North Dakota | 0 | 20 | 0 | 20 | ||||
Pennsylvania | 0 | 1,295 | 0 | 1,295 | ||||
Puerto Rico | 0 | 17,074 | 0 | 17,074 | ||||
Texas | 0 | 1,012 | 0 | 1,012 | ||||
Virginia | 0 | 999 | 0 | 999 | ||||
U.S. Government Agencies | 0 | 1,881 | 0 | 1,881 | ||||
........................................................................................................................................................................................ | ||||||||
Total Investments | $ | 0 | $ | 339,205 | $ | 0 | $ | 339,205 |
There were no significant transfers into or out of Level 3 during the period ended March 31, 2024.
Notes to Financial Statements
1. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS
- Investment Valuation Policies The net asset value ("NAV") of the Fund's shares, or each of its share classes as applicable, is determined by dividing the total value of portfolio investments and other assets attributable to the Fund or class, less any liabilities, as applicable, by the total number of shares outstanding.
On each day that the New York Stock Exchange ("NYSE") is open, the Fund's shares are ordinarily valued as of the close of regular trading (normally 4:00 p.m., Eastern time) ("NYSE Close"). Information that becomes known to the Fund or its 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, the Fund may calculate its NAV as of the earlier closing time or calculate its NAV as of the NYSE Close for that day. The Fund generally does not calculate its NAV on days on which the NYSE is not open for business. If the NYSE is closed on a day it would normally be open for business, the Fund may calculate its NAV as of the NYSE Close for such day or such other time that the Fund may determine.
For purposes of calculating NAV, portfolio securities and other assets for which market quotations are readily available are valued at market value. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. Market value is generally determined on the basis of official closing prices or the last reported sales prices. The Fund will normally use pricing data for domestic equity securities received shortly after the NYSE Close and does not normally take into account trading, clearances or settlements that take place after the NYSE Close.
Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the "Act"). As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board of Trustees has designated Pacific Investment Management Company LLC ("PIMCO") as the valuation designee ("Valuation Designee") for the Fund to perform the fair value determination relating to all Fund investments. PIMCO may carry out its designated responsibilities as Valuation Designee through various teams and committees. The Valuation Designee's policies and procedures govern the Valuation Designee's selection and application of methodologies for determining and calculating the fair value of Fund portfolio investments. The Valuation Designee may value Fund portfolio securities for which market quotations are not readily available and other Fund assets utilizing inputs from pricing services, quotation reporting systems, valuation agents and other third-party sources (together, "Pricing Sources").
Fair valuation may require subjective determinations about the value of a security. While the Fund's and Valuation Designee's policies and procedures are intended to result in a calculation of the Fund's NAV that fairly reflects security values as of the time of pricing, the Fund cannot ensure that fair values accurately reflect the price that the Fund could obtain for a security if it were to dispose of that security as of the time of pricing (for instance, in a forced or distressed sale). The prices used by the Fund may differ from the value that would be realized if the securities were sold.
- Fair Value Hierarchy U.S. GAAP describes fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into levels (Level 1, 2 or 3). The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:
- Level 1 - Quoted prices (unadjusted) in active markets or exchanges for identical assets and liabilities.
- Level 2 - Significant other observable inputs, which may include, but are not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs.
- Level 3 - Significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include assumptions made by the Valuation Designee that are used in determining the fair value of investments.
In accordance with the requirements of U.S. GAAP, the amounts of transfers into and out of Level 3, if material, are disclosed in the Notes to Schedule of Investments for the Fund.
For fair valuations using significant unobservable inputs, U.S. GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to realized gain (loss), unrealized appreciation (depreciation), purchases and sales, accrued discounts (premiums), and transfers into and out of the Level 3 category during the period. The end of period value is used for the transfers between Levels of the Fund's assets and liabilities. Additionally, U.S. GAAP requires quantitative information regarding the significant unobservable inputs used in the determination of fair value of assets or liabilities categorized as Level 3 in the fair value hierarchy. In accordance with the requirements of U.S. GAAP, a fair value hierarchy, and if material, a Level 3 reconciliation and details of significant unobservable inputs, have been included in the Notes to Schedule of Investments for the Fund.
(c) Valuation Techniques and the Fair Value Hierarchy
Level 1, Level 2 and Level 3 trading assets and trading liabilities, at fair value The valuation methods (or "techniques") and significant inputs used in determining the fair values of portfolio securities or other assets and liabilities categorized as Level 1, Level 2 and Level 3 of the fair value hierarchy are as follows:
Fixed income securities including corporate, convertible and municipal bonds and notes, U.S. government agencies, U.S. treasury obligations, sovereign issues, bank loans, convertible preferred securities, non-U.S. bonds, and short-term debt instruments (such as commercial paper, time deposits, and certificates of deposit) are normally valued on the basis of quotes obtained from brokers and dealers or Pricing Sources that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. The Pricing Sources' internal models use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.
Fixed income securities purchased on a delayed-delivery basis or as a repurchase commitment in a sale-buyback transaction are marked to market daily until settlement at the forward settlement date and are categorized as Level 2 of the fair value hierarchy.
Notes to Financial Statements (Cont.)
Short-term debt instruments (such as commercial paper, time deposits and certificates of deposit) having a remaining maturity of 60 days or less may be valued at amortized cost, so long as the amortized cost value of such short-term debt instruments is approximately the same as the fair value of the instrument as determined without the use of amortized cost valuation. These securities are categorized as Level 2 or Level 3 of the fair value hierarchy depending on the source of the base price.
When a fair valuation method is applied by PIMCO that uses significant unobservable inputs, investments will be priced by a method that the Valuation Designee believe reflects fair value and are categorized as Level 3 of the fair value hierarchy.
2. FEDERAL INCOME TAX MATTERS
The Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (the "Code") and distribute all of its income and net realized gains, if applicable, to shareholders. Accordingly, no provision for Federal income taxes has been made.
The Fund may be subject to local withholding taxes, including those imposed on realized capital gains. Any applicable foreign capital gains tax is accrued daily based upon net unrealized gains, and may be payable following the sale of any applicable investments.
In accordance with U.S. GAAP, the Manager has reviewed the Fund's tax positions for all open tax years. As of March 31, 2024, the Fund has recorded no liability for net unrecognized tax benefits relating to uncertain income tax positions it has taken or expects to take in future tax returns.
The Fund files U.S. federal, state, and local tax returns as required. The Fund's 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.
Glossary: (abbreviations that may be used in the preceding statements) | (Unaudited) | ||||
Currency Abbreviations: | |||||
USD (or $) | United States Dollar | ||||
Municipal Bond or Agency Abbreviations: | |||||
AGM | Assured Guaranty Municipal | BAM | Build America Mutual Assurance | NPFGC | National Public Finance Guarantee Corp. |
AMBAC | American Municipal Bond Assurance Corp. | CM | California Mortgage Insurance | ||
Other Abbreviations: | |||||
TBA | To-Be-Announced |
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PIMCO California Municipal Income Fund published this content on 31 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2024 21:06:05 UTC.