0001181504-24-000054.txt : 20241127 0001181504-24-000054.hdr.sgml : 20241127 20241127135634 ACCESSION NUMBER: 0001181504-24-000054 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241127 DATE AS OF CHANGE: 20241127 PERIOD START: 20241231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PIMCO CALIFORNIA MUNICIPAL INCOME FUND III CENTRAL INDEX KEY: 0001181504 ORGANIZATION NAME: IRS NUMBER: 161624050 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21188 FILM NUMBER: 241509603 BUSINESS ADDRESS: STREET 1: 1633 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-739-4000 MAIL ADDRESS: STREET 1: 1633 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10019 NPORT-P 1 primary_doc.xml NPORT-P false 0001181504 XXXXXXXX PIMCO California Municipal Income Fund III 811-21188 0001181504 BVT0QWDJNZ8WI4XN5U25 1633 Broadway New York 10019 (844) 337-4626 N/A N/A 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SCH DIST PACSCD 08/48 FIXED 4 69511CAS9 1250000.000000 PA USD 1232869.630000 0.689805 Long DBT MUN US N 2 2048-08-01 Fixed 4 N N N N N N SAN DIEGO HOUSING AUTHORITY/CA 549300X9H1ODNOOT1Q87 SAN DIEGO CA HSG AUTH MF HSG R SAN DIEGO HSG AUTH E 79728FLL3 2000000.000000 PA USD 2056010.400000 1.15036 Long DBT MUN US N 2 2040-06-01 Fixed 4.2 N N N N N N LONG BEACH BOND FINANCE AUTHORITY 549300BKBZ5U7OZH3S21 LONG BEACH CA FIN AUTH LNGDEV 08/53 FIXED OID 4 54241QDH8 1250000.000000 PA USD 1243725.880000 0.695879 Long DBT MUN US N 2 2053-08-01 Fixed 4 N N N N N N CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 549300KTNI2GCJNX2U48 CALIFORNIA ST STWD CMNTYS DEV 11/59 1 13079PXY4 1480000.000000 PA USD 1332621.300000 0.745617 Long DBT MUN US N 2 2059-11-01 Variable 4.25 N N N N N N SWEETWATER UNION HIGH SCHOOL DISTRICT N/A SWEETWATER CA UNION HIGH SCH D SWESCD 08/52 FIXED 5 870462UG1 1785000.000000 PA USD 1976227.760000 1.10572 Long DBT MUN US N 2 2052-08-01 Fixed 5 N N N N N N FHLMC PASS 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0.0590217 Long DBT MUN US N 2 2054-09-01 Fixed 5 N N N N N N CMFA SPECIAL FINANCE AGENCY VII N/A CMFA SPL FIN AGY VII CA ESSENT CMFHSG 08/56 FIXED 3 12574UAA2 1500000.000000 PA USD 1100308.500000 0.615635 Long DBT MUN US N 2 2056-08-01 Fixed 3 N N N N N N CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY 5493007RI8BUDOGHZ546 CALIFORNIA ST HLTH FACS FING A CASMED 08/48 FIXED 4 13032UB23 2300000.000000 PA USD 2315041.540000 1.29529 Long DBT MUN US N 2 2048-08-15 Fixed 4 N N N N N N COLTON JOINT UNIFIED SCHOOL DISTRICT N/A COLTON CA JT UNIF SCH DIST COLSCD 08/49 FIXED 5 197036QS8 2000000.000000 PA USD 2242138.400000 1.2545 Long DBT MUN US N 2 2049-08-01 Fixed 5 N N N N N N STATE CENTER COMMUNITY COLLEGE DISTRICT N/A ST CENTER CA CMNTY CLG DIST STCHGR 08/47 FIXED 5 856597JU4 1495000.000000 PA USD 1663418.030000 0.930702 Long DBT MUN US N 2 2047-08-01 Fixed 5 N N N N N N M-S-R ENERGY AUTHORITY 549300UEMSS1JTK5YB98 M S R CA ENERGY AUTH GAS REVEN MSRPWR 11/34 FIXED 7 55374SAH3 1000000.000000 PA USD 1268981.000000 0.710009 Long DBT MUN US N 2 2034-11-01 Fixed 7 N N N N N N CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS N/A LOS ANGELES CA DEPT OF ARPTS A LOSAPT 05/48 FIXED 5 544445GY9 1800000.000000 PA USD 1863335.880000 1.04256 Long DBT MUN US N 2 2048-05-15 Fixed 5 N N N N N N CALIFORNIA HOUSING FINANCE AGENCY 549300BOPCVLBA552Z14 CALIFORNIA ST HSG FIN AGY MF T CASHSG 02/42 FIXED 4.33 130331AF8 1000000.000000 PA USD 1031052.900000 0.576886 Long DBT MUN US N 2 2042-02-01 Fixed 4.33 N N N N N N M-S-R ENERGY AUTHORITY 549300UEMSS1JTK5YB98 M S R CA ENERGY AUTH GAS REVEN MSRPWR 11/39 FIXED OID 6.5 55374SAJ9 1000000.000000 PA USD 1308550.500000 0.732149 Long DBT MUN US N 2 2039-11-01 Fixed 6.5 N N N N N N ANGELINA & NECHES RIVER AUTHORITY N/A ANGELINA NECHES RIVER AUTH I ANGDEV 12/45 FIXED 7.5 03469KAB9 390000.000000 PA USD 270012.480000 0.151075 Long DBT MUN US N 2 2045-12-01 Fixed 7.5 N N N N N N FRESNO UNIFIED SCHOOL DISTRICT EDUCATIONAL FACILITIES CORPORATION 549300WL4QIP65TFU882 FRESNO CA UNIF SCH DIST FRESCD 08/55 FIXED OID 4 358233DU5 2100000.000000 PA USD 2098607.700000 1.1742 Long DBT MUN US N 2 2055-08-01 Fixed 4 N N N N N N CALIFORNIA STATE N/A CALIFORNIA ST CAS 11/47 FIXED 4 13063DAZ1 1500000.000000 PA USD 1503003.150000 0.840948 Long DBT MUN US N 2 2047-11-01 Fixed 4 N N N N N N CALIFORNIA HOUSING FINANCE AGENCY 549300BOPCVLBA552Z14 CALIFORNIA HSG FIN AGY LTD OBL CASMFH 06/54 ADJUSTABLE VAR 13034DAE4 1100000.000000 PA USD 1108453.720000 0.620193 Long DBT MUN US N 2 2054-06-01 Variable 5.7 N N N N N N MANTECA UNIFIED SCHOOL DISTRICT N/A MANTECA CA UNIF SCH DIST MANSCD 08/45 FIXED 4 564538GA8 1800000.000000 PA USD 1804557.780000 1.00967 Long DBT MUN US N 2 2045-08-01 Fixed 4 N N N N N N CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 549300KTNI2GCJNX2U48 CALIFORNIA STWD CMNTYS DEV AUT CASGEN 07/47 FIXED 4 13080SVB7 250000.000000 PA USD 250238.730000 0.140012 Long DBT MUN US N 2 2047-07-01 Fixed 4 N N N N N N FHLMC PASS THRU POOLS N/A FED HM LN PC POOL WE2008 FR 06/33 FIXED 4.08 3132Y7GR0 1056806.340000 PA USD 1093409.270000 0.611775 Long ABS-MBS USGSE US N 2 2033-06-01 Fixed 4.08 N N N N N N CALIFORNIA MUNICIPAL FINANCE AUTHORITY 5493000UQOV6R4ZWS346 CALIFORNIA ST MUNI FIN AUTH SC CASFAC 05/54 FIXED 5.75 13051BAC0 200000.000000 PA USD 209458.360000 0.117194 Long DBT MUN US N 2 2054-05-01 Fixed 5.75 N N N N N N ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY N/A ARIZONA ST INDL DEV AUTH ECON AZSDEV 07/50 FIXED OID 7.75 040523AF9 730000.000000 PA USD 29200.000000 0.0163377 Long DBT MUN US N 2 2050-07-01 Fixed 7.75 Y Y N N N N CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY 5493007RI8BUDOGHZ546 CALIFORNIA ST HLTH FACS FING A CASMED 11/46 FIXED 5 13032UXH6 2960000.000000 PA USD 3035177.190000 1.69822 Long DBT MUN US N 2 2046-11-15 Fixed 5 N N N N N N CALIFORNIA STATE N/A CALIFORNIA ST CAS 09/43 FIXED OID 4 13063D5S3 1600000.000000 PA USD 1655697.760000 0.926382 Long DBT MUN US N 2 2043-09-01 Fixed 4 N N N N N N CALIFORNIA STATE N/A CALIFORNIA ST CAS 04/49 FIXED 4 13063DP51 1750000.000000 PA USD 1768125.980000 0.989287 Long DBT MUN US N 2 2049-04-01 Fixed 4 N N N N N N 2024-11-25 PIMCO California Municipal Income Fund III /s/ Bijal Parikh Bijal Parikh Treasurer XXXX NPORT-EX 2 camunicipalincomefundiii.htm PIMCO CALIFORNIA MUNICIPAL INCOME FUND III camunicipalincomefundiii

Schedule of Investments PIMCO California Municipal Income Fund III

September 30, 2024 (Unaudited)

 

(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)

 

 

PRINCIPAL
AMOUNT
(000s)

 

MARKET
VALUE
(000s)

INVESTMENTS IN SECURITIES 165.4% ¤

 

 

 

 

MUNICIPAL BONDS & NOTES 161.1%

 

 

 

 

ARIZONA 0.0%

 

 

 

 

Arizona Industrial Development Authority Revenue Bonds, Series 2020
7.750% due 07/01/2050 ^(b)

$

730

$

29

CALIFORNIA 147.0%

 

 

 

 

Alameda Corridor Transportation Authority, California Revenue Bonds, (AGM Insured), Series 2024
0.000% due 10/01/2052 (c)

 

1,900

 

529

Alameda Corridor Transportation Authority, California Revenue Bonds, Series 2022
5.375% due 10/01/2049 (d)

 

2,525

 

1,512

Alameda Unified School District-Alameda County, California General Obligation Bonds, Series 2024
5.000% due 08/01/2049

 

750

 

840

Anaheim City School District, California General Obligation Bonds, (BAM Insured), Series 2023
4.250% due 08/01/2050

 

2,300

 

2,338

Antelope Valley Community College District, California General Obligation Bonds, Series 2022
0.000% due 08/01/2047 (c)

 

600

 

200

Bay Area Toll Authority, California Revenue Bonds, Series 2023
4.125% due 04/01/2054

 

1,500

 

1,511

Butte-Glenn Community College District, California General Obligation Bonds, Series 2022
4.000% due 08/01/2047

 

1,330

 

1,338

California Community Choice Financing Authority Revenue Bonds, Series 2023
5.250% due 11/01/2054

 

1,750

 

1,906

California Community Housing Agency Revenue Bonds, Series 2022
4.500% due 08/01/2052

 

1,000

 

841

California County Tobacco Securitization Agency Revenue Bonds, Series 2002

 

 

 

 

6.000% due 06/01/2042

 

6,950

 

7,112

6.125% due 06/01/2038

 

1,000

 

1,002

California County Tobacco Securitization Agency Revenue Bonds, Series 2007
0.000% due 06/01/2057 (c)

 

4,000

 

628

California County Tobacco Securitization Agency Revenue Bonds, Series 2020
0.000% due 06/01/2055 (c)

 

4,000

 

796

California Educational Facilities Authority Revenue Bonds, Series 2018
5.000% due 10/01/2043

 

1,000

 

1,055

California Health Facilities Financing Authority Revenue Bonds, Series 2015
5.000% due 08/15/2054

 

3,000

 

3,026

California Health Facilities Financing Authority Revenue Bonds, Series 2016

 

 

 

 

5.000% due 11/15/2046

 

2,960

 

3,035

5.000% due 08/15/2055

 

5,000

 

5,065

California Health Facilities Financing Authority Revenue Bonds, Series 2017

 

 

 

 

4.000% due 11/01/2038

 

1,220

 

1,238

4.000% due 11/01/2044

 

1,000

 

1,003

4.000% due 11/01/2051

 

2,250

 

2,206

California Health Facilities Financing Authority Revenue Bonds, Series 2020
4.000% due 08/15/2050

 

1,000

 

999

California Health Facilities Financing Authority Revenue Bonds, Series 2021
4.000% due 08/15/2048

 

2,300

 

2,315

California Health Facilities Financing Authority Revenue Bonds, Series 2024
5.000% due 11/15/2044

 

1,500

 

1,695

California Housing Finance Agency Revenue Bonds, (FNMA Insured), Series 2024
4.330% due 02/01/2042

 

1,000

 

1,031

California Housing Finance Agency Revenue Bonds, Series 2024
5.970% due 11/01/2053

 

1,750

 

1,781

California Housing Finance Revenue Bonds, Series 2024

 

 

 

 

5.700% due 06/01/2054

 

1,100

 

1,108

6.000% due 03/01/2053

 

1,750

 

1,792

7.000% due 03/01/2053

 

500

 

508

California Infrastructure & Economic Development Bank Revenue Bonds, Series 2020

 

 

 

 

0.000% due 01/01/2060 (c)

 

5,000

 

452

4.000% due 11/01/2050

 

860

 

845

8.000% due 01/01/2050

 

1,200

 

1,236

California Municipal Finance Authority Certificates of Participation Bonds, (AGM Insured), Series 2022
5.250% due 11/01/2052

 

1,500

 

1,629

California Municipal Finance Authority Revenue Bonds, (FNMA Insured), Series 2024
4.000% due 10/01/2039

 

1,000

 

1,005

California Municipal Finance Authority Revenue Bonds, Series 2021
4.000% due 09/01/2050 (e)

 

1,200

 

1,054

California Municipal Finance Authority Revenue Bonds, Series 2024

 

 

 

 

5.750% due 05/01/2054

 

200

 

209

6.000% due 01/01/2039

 

2,000

 

2,130

California Municipal Finance Authority Special Tax Bonds, Series 2024

 

 

 

 

5.000% due 09/01/2049

 

200

 

213

5.000% due 09/01/2054

 

100

 

105

Schedule of Investments PIMCO California Municipal Income Fund III (Cont.)

September 30, 2024 (Unaudited)

 

5.125% due 09/01/2059

 

575

 

612

California Public Finance Authority Revenue Bonds, Series 2019
6.250% due 07/01/2054

 

2,250

 

2,368

California State General Obligation Bonds, Series 2017
4.000% due 11/01/2047

 

1,500

 

1,503

California State General Obligation Bonds, Series 2018

 

 

 

 

4.000% due 10/01/2039

 

4,500

 

4,528

5.000% due 10/01/2047

 

2,000

 

2,050

California State General Obligation Bonds, Series 2020
4.000% due 11/01/2040

 

850

 

879

California State General Obligation Bonds, Series 2021
5.000% due 09/01/2041

 

1,500

 

1,677

California State General Obligation Bonds, Series 2022

 

 

 

 

4.000% due 09/01/2042

 

1,150

 

1,190

4.000% due 04/01/2049

 

1,750

 

1,768

California State General Obligation Bonds, Series 2023
4.000% due 09/01/2043

 

1,600

 

1,656

California State University Revenue Bonds, Series 2015
5.000% due 11/01/2047

 

6,750

 

6,862

California State University Revenue Bonds, Series 2024
4.000% due 11/01/2049

 

600

 

607

California Statewide Communities Development Authority Revenue Bonds, (AGM Insured), Series 2022
5.375% due 08/15/2057

 

950

 

1,043

California Statewide Communities Development Authority Revenue Bonds, (CM Insured), Series 2018
4.000% due 07/01/2047

 

250

 

250

California Statewide Communities Development Authority Revenue Bonds, Series 2016

 

 

 

 

4.000% due 08/15/2051

 

200

 

195

5.000% due 06/01/2046

 

1,000

 

1,006

5.000% due 12/01/2046

 

3,100

 

3,137

5.250% due 12/01/2056

 

3,750

 

3,798

California Statewide Communities Development Authority Revenue Bonds, Series 2018

 

 

 

 

4.000% due 03/01/2042

 

2,500

 

2,450

4.000% due 07/01/2048

 

850

 

841

4.000% due 12/01/2057

 

2,000

 

1,931

5.000% due 03/01/2048

 

1,505

 

1,545

California Statewide Communities Development Authority Revenue Bonds, Series 2019
4.250% due 11/01/2059

 

1,480

 

1,333

California Statewide Communities Development Authority Revenue Bonds, Series 2024
5.000% due 12/01/2049

 

1,800

 

1,995

Chino Valley Unified School District, California General Obligation Bonds, Series 2022

 

 

 

 

0.000% due 08/01/2030 (c)

 

1,135

 

952

0.000% due 08/01/2038 (c)

 

1,300

 

760

0.000% due 08/01/2039 (c)

 

1,600

 

888

0.000% due 08/01/2041 (c)

 

1,935

 

973

0.000% due 08/01/2046 (c)

 

1,500

 

593

City of California, Eureka City Schools, General Obligation Bonds, (BAM Insured), Series 2020
4.000% due 08/01/2049

 

2,000

 

1,995

CMFA Special Finance Agency VII, California Revenue Bonds, Series 2021
3.000% due 08/01/2056

 

1,500

 

1,100

CMFA Special Finance Agency, California Revenue Bonds, Series 2021
4.000% due 08/01/2045

 

1,130

 

1,011

Colton Joint Unified School District, California General Obligation Bonds, (BAM Insured), Series 2024
5.000% due 08/01/2049

 

2,000

 

2,242

Corona Community Facilities District, California Special Tax Bonds, Series 2024
5.000% due 09/01/2044

 

725

 

783

Corona Norco Unified School District, California General Obligation Bonds, Series 2018
4.000% due 08/01/2047

 

1,460

 

1,463

CSCDA Community Improvement Authority, California Revenue Bonds, Series 2021

 

 

 

 

3.000% due 02/01/2057

 

500

 

374

3.400% due 10/01/2046

 

350

 

301

CSCDA Community Improvement Authority, California Revenue Bonds, Series 2022
4.750% due 09/01/2062 (d)

 

1,800

 

1,251

Department of Veterans Affairs Veteran's Farm & Home Purchase Program, California Revenue Bonds, Series 2022
4.950% due 12/01/2046

 

300

 

319

Desert Community College District, California General Obligation Bonds, Series 2024
4.000% due 08/01/2051

 

1,100

 

1,103

El Monte City School District, California General Obligation Bonds, (BAM Insured), Series 2023
5.000% due 08/01/2052

 

1,400

 

1,529

Elk Grove Finance Authority, California Special Tax Bonds, Series 2016
5.000% due 09/01/2046

 

1,000

 

1,012

Folsom Cordova Unified School District, California General Obligation Bonds, (AGM Insured), Series 2019
4.000% due 10/01/2044

 

1,160

 

1,161

Foothill-Eastern Transportation Corridor Agency, California Revenue Bonds, Series 2014
3.950% due 01/15/2053

 

720

 

690

Fremont Community Facilities District No. 1, California Special Tax Bonds, Series 2015
5.000% due 09/01/2045

 

1,400

 

1,411

Fresno Unified School District, California General Obligation Bonds, Series 2016
4.000% due 08/01/2046

 

2,125

 

2,113

Fresno Unified School District, California General Obligation Bonds, Series 2024
4.000% due 08/01/2055

 

2,100

 

2,099

Glendale Community College District, California General Obligation Bonds, Series 2020
4.000% due 08/01/2050

 

1,000

 

1,000

Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021
0.000% due 06/01/2066 (c)

 

20,500

 

2,449

Hartnell Community College District, California General Obligation Bonds, Series 2017
4.000% due 08/01/2042

 

1,150

 

1,161

Schedule of Investments PIMCO California Municipal Income Fund III (Cont.)

September 30, 2024 (Unaudited)

 

HastingsCampus Housing Finance Authority, California Revenue Bonds, Series 2020
5.000% due 07/01/2061

 

2,000

 

1,871

Irvine Facilities Financing Authority, California Special Tax Bonds, (BAM Insured), Series 2023
4.000% due 09/01/2058

 

2,000

 

1,980

Lancaster County Hospital Authority, California Revenue Bonds, (BAM Insured), Series 2024
4.000% due 05/01/2049

 

1,200

 

1,191

Long Beach Bond Finance Authority, California General Obligation Bonds, Series 2023
4.000% due 08/01/2053

 

1,250

 

1,251

Long Beach Bond Finance Authority, California Revenue Bonds, Series 2023
4.000% due 08/01/2053

 

1,250

 

1,244

Long Beach Unified School District, California General Obligation Bonds, Series 2009
5.750% due 08/01/2033

 

305

 

306

Los Angeles County, California Facilities, Inc., Revenue Bonds, Series 2018
4.000% due 12/01/2048

 

2,000

 

2,001

Los Angeles County, California Public Works Financing Authority Revenue Bonds, Series 2024
4.000% due 12/01/2053

 

820

 

823

Los Angeles County, California Sanitation Districts Financing Authority Revenue Bonds, Series 2016
4.000% due 10/01/2042

 

1,185

 

1,188

Los Angeles Department of Airports, California Revenue Bonds, Series 2018
5.000% due 05/15/2048

 

1,800

 

1,863

Los Angeles Department of Water & Power Water System, California Revenue Bonds, Series 2022
5.000% due 07/01/2052

 

1,190

 

1,312

Los Angeles Unified School District, California General Obligation Bonds, Series 2024
4.000% due 07/01/2049 (a)

 

800

 

809

M-S-R Energy Authority, California Revenue Bonds, Series 2009

 

 

 

 

6.500% due 11/01/2039

 

2,700

 

3,534

7.000% due 11/01/2034

 

2,285

 

2,900

Mammoth Lakes, California Certificates of Participation Bonds, (BAM Insured),Series 2024
4.000% due 06/01/2049

 

1,700

 

1,697

Manteca Financing Authority, California Revenue Bonds, Series 2009
5.750% due 12/01/2036

 

1,000

 

1,004

Manteca Unified School District, California General Obligation Bonds, Series 2020
4.000% due 08/01/2045

 

1,800

 

1,805

Monterey Peninsula Unified School District, California General Obligation Bonds, Series 2019
4.000% due 08/01/2040

 

2,545

 

2,589

Mount San Antonio Community College District, California General Obligation Bonds, Series 2019
4.000% due 08/01/2049

 

1,800

 

1,802

Mount San Antonio Community College District, California General Obligation Bonds, Series 2024
4.000% due 08/01/2049

 

750

 

756

Mount San Jacinto Community College District, California General Obligation Bonds, Series 2018
4.000% due 08/01/2043

 

3,650

 

3,690

Norwalk-La Mirada Unified School District, California General Obligation Bonds, Series 2019
4.000% due 08/01/2048

 

2,200

 

2,197

Oakland Redevelopment Agency Successor Agency, California Tax Allocation Bonds, (AGM Insured), Series 2015
5.000% due 09/01/2036

 

800

 

813

Ontario International Airport Authority, California Revenue Bonds, (AGM Insured), Series 2021
4.000% due 05/15/2051

 

400

 

400

Ontario Montclair School District, California General Obligation Bonds, Series 2017
5.000% due 08/01/2046

 

1,525

 

1,590

Pacifica School District, California General Obligation Bonds, Series 2018
4.000% due 08/01/2048

 

1,250

 

1,233

Palm Springs Unified School District, California General Obligation Bonds, Series 2024
4.000% due 08/01/2049

 

1,200

 

1,203

Redwood City School District, California General Obligation Bonds, Series 2023
5.000% due 08/01/2052

 

1,700

 

1,904

Richmond, California Wastewater Revenue Bonds, Series 2019
4.000% due 08/01/2049

 

1,190

 

1,191

Rio Hondo Community College District, California General Obligation Bonds, Series 2022
0.000% due 08/01/2045 (c)

 

1,500

 

581

River Islands Public Financing Authority, California Special Tax Bonds, Series 2024
5.000% due 09/01/2054

 

275

 

283

River Islands Public Financing Authority, California Special Tax, (AGM Insured), Series 2022
4.250% due 09/01/2047

 

900

 

917

Riverside County, California Transportation Commission Revenue Bonds, Series 2013
0.000% due 06/01/2042 (c)

 

1,000

 

490

Riverside County, California Transportation Commission Revenue Bonds, Series 2021
4.000% due 06/01/2047

 

1,880

 

1,882

Riverside, California Electric Revenue Bonds, Series 2024
5.000% due 10/01/2049

 

2,200

 

2,486

Riverside, California Sewer Revenue Bonds, Series 2018
4.000% due 08/01/2038

 

2,000

 

2,042

Sacramento City Unified School District, California General Obligation Bonds, (AGM Insured), Series 2021
4.000% due 08/01/2049

 

1,340

 

1,340

Sacramento County, California Special Tax Bonds, Series 2022

 

 

 

 

5.000% due 09/01/2042

 

1,550

 

1,648

5.000% due 09/01/2047

 

400

 

419

Sacramento Municipal Utility District, California Revenue Bonds, Series 2023
5.000% due 08/15/2048

 

500

 

564

San Bernardino Community College District, California General Obligation Bonds, Series 2023
5.000% due 08/01/2049

 

3,000

 

3,295

San Diego County, California Certificates of Participation Bonds, Series 2023
5.000% due 10/01/2053

 

3,000

 

3,325

San Diego County, California Regional Airport Authority Revenue Bonds, Series 2021

 

 

 

 

4.000% due 07/01/2051

 

2,250

 

2,188

5.000% due 07/01/2051

 

1,925

 

2,031

Schedule of Investments PIMCO California Municipal Income Fund III (Cont.)

September 30, 2024 (Unaudited)

 

SanDiego Housing Authority, Inc., California Revenue Bonds,(FHLMC Insured), Series 2024
4.200% due 06/01/2040

 

2,000

 

2,056

San Diego Unified School District, California General Obligation Bonds, Series 2023

 

 

 

 

4.000% due 07/01/2053

 

4,000

 

4,021

5.000% due 07/01/2048

 

2,000

 

2,240

San Diego Unified School District, California General Obligation Bonds, Series 2024
4.000% due 07/01/2054

 

1,800

 

1,804

San Francisco, California City & County Airport Comm-San Francisco International Airport Revenue Bonds, Series 2019
5.000% due 05/01/2049

 

3,750

 

3,883

San Francisco, California City & County Public Utilities Commission Power Revenue Bonds, Series 2023
5.000% due 11/01/2048

 

1,500

 

1,658

San Francisco, California Public Utilities Commission Water Revenue Bonds, Series 2016
4.000% due 11/01/2039

 

775

 

783

San Francisco, California Public Utilities Commission Water Revenue Bonds, Series 2020
5.000% due 11/01/2050

 

1,500

 

1,617

San Francisco, California Public Utilities Commission Water Revenue Bonds, Series 2023
5.250% due 11/01/2052

 

1,250

 

1,412

San Jose Financing Authority, California Revenue Bonds, Series 2022
5.000% due 11/01/2052

 

1,500

 

1,672

San Juan Unified School District, California General Obligation Bonds, Series 2024
4.000% due 08/01/2049

 

1,500

 

1,503

San Marcos Redevelopment Agency Successor Agency, California Tax Allocation Bonds, Series 2015

 

 

 

 

5.000% due 10/01/2032

 

850

 

867

5.000% due 10/01/2034

 

885

 

902

San Mateo County, California Community College District General Obligation Bonds, (NPFGC Insured), Series 2006
0.000% due 09/01/2034 (c)

 

2,530

 

1,890

San Mateo Joint Powers Financing Authority, California Revenue Bonds, Series 2018
4.000% due 07/15/2052

 

1,550

 

1,545

Santa Clarita Community College District, California General Obligation Bonds, Series 2016
4.000% due 08/01/2046

 

1,800

 

1,790

Santa Monica, California Community College District General Obligation Bonds, Series 2022
4.000% due 08/01/2045

 

1,040

 

1,064

Silicon Valley Tobacco Securitization Authority, California Revenue Bonds, Series 2007
0.000% due 06/01/2036 (c)

 

1,000

 

530

South San Francisco Unified School, California General Obligation Bonds, Series 2023
4.000% due 09/01/2048

 

2,000

 

2,008

Southwestern Community College District, California General Obligation Bonds, Series 2021
4.000% due 08/01/2046

 

3,850

 

3,876

State Center Community College District, California General Obligation Bonds, Series 2022
5.000% due 08/01/2047

 

1,495

 

1,663

Sweetwater Union High School District, California General Obligation Bonds, Series 2022
5.000% due 08/01/2052

 

1,785

 

1,976

Tejon Ranch Public Facilities Finance Authority, California Special Tax Bonds, Series 2024
5.000% due 09/01/2054

 

600

 

632

Tobacco Securitization Authority of Northern California Revenue Bonds, Series 2021
0.000% due 06/01/2060 (c)

 

20,000

 

3,484

Tobacco Securitization Authority of Southern California Revenue Bonds, Series 2006
0.000% due 06/01/2046 (c)

 

3,995

 

803

Tobacco Securitization Authority of Southern California Revenue Bonds, Series 2019
5.000% due 06/01/2048

 

1,325

 

1,381

University of California Revenue Bonds, Series 2018
4.000% due 05/15/2043

 

1,050

 

1,059

University of California Revenue Bonds, Series 2022
5.000% due 05/15/2052

 

4,500

 

4,947

Upland, California Certificates of Participation Bonds, Series 2017
4.000% due 01/01/2042

 

2,250

 

2,106

Victor Valley Community College District, California General Obligation Bonds, Series 2024
5.000% due 08/01/2051

 

660

 

730

Washington Township Health Care District, California General Obligation Bonds, Series 2015
4.000% due 08/01/2045

 

2,500

 

2,496

Washington Township Health Care District, California General Obligation Bonds, Series 2023
5.500% due 08/01/2053

 

1,270

 

1,453

 

 

 

 

262,734

DELAWARE 1.4%

 

 

 

 

Affordable Housing Opportunities Trust, Delaware Revenue Bonds, Series 2022

 

 

 

 

3.167% due 10/01/2038

 

2,365

 

2,086

7.120% due 10/01/2038

 

420

 

413

 

 

 

 

2,499

ILLINOIS 0.6%

 

 

 

 

Illinois State General Obligation Bonds, Series 2017
5.000% due 11/01/2027

 

1,000

 

1,066

NEW HAMPSHIRE 1.0%

 

 

 

 

New Hampshire Business Finance Authority Revenue Bonds, Series 2023
4.817% due 12/20/2036

 

1,668

 

1,711

NEW YORK 0.2%

 

 

 

 

New York Power Authority Revenue Bonds, Series 2020
4.000% due 11/15/2055

 

425

 

421

Schedule of Investments PIMCO California Municipal Income Fund III (Cont.)

September 30, 2024 (Unaudited)

 

NORTH DAKOTA 0.0%

 

 

 

 

Grand Forks County, North Dakota Revenue Bonds, Series 2021
7.000% due 12/15/2043 ^(b)

 

570

 

0

PENNSYLVANIA 0.6%

 

 

 

 

Pennsylvania Economic Development Financing Authority Revenue Bonds, Series 2021
9.000% due 04/01/2051

 

1,005

 

1,158

PUERTO RICO 7.7%

 

 

 

 

Children's Trust Fund, Puerto Rico Revenue Bonds, Series 2008
0.000% due 05/15/2057 (c)

 

18,000

 

1,221

Commonwealth of Puerto Rico Bonds, Series 2022

 

 

 

 

0.000% due 11/01/2043

 

1,890

 

1,219

0.000% due 11/01/2051

 

1,872

 

1,226

Commonwealth of Puerto Rico General Obligation Bonds, Series 2021

 

 

 

 

0.000% due 07/01/2033 (c)

 

1,000

 

680

4.000% due 07/01/2041

 

1,000

 

968

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2018

 

 

 

 

0.000% due 07/01/2046 (c)

 

7,700

 

2,613

0.000% due 07/01/2051 (c)

 

6,630

 

1,635

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2019
4.784% due 07/01/2058

 

4,280

 

4,291

 

 

 

 

13,853

TEXAS 1.5%

 

 

 

 

Angelina & Neches River Authority, Texas Revenue Bonds, Series 2021

 

 

 

 

7.500% due 12/01/2045

 

390

 

270

12.000% due 12/01/2045

 

650

 

583

Roma Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2024
4.000% due 02/15/2054

 

1,800

 

1,753

 

 

 

 

2,606

VIRGINIA 0.5%

 

 

 

 

Virginia Small Business Financing Authority Revenue Bonds, Series 2019

 

 

 

 

0.000% due 07/01/2061 (c)

 

15,000

 

495

5.500% due 07/01/2044

 

500

 

453

 

 

 

 

948

WISCONSIN 0.6%

 

 

 

 

Wisconsin Center District Revenue Bonds, (AGM Insured), Series 2020
0.000% due 12/15/2055 (c)

 

4,100

 

985

Total Municipal Bonds & Notes (Cost $282,365)

 

 

 

288,010

U.S. GOVERNMENT AGENCIES 3.7%

 

 

 

 

Freddie Mac

 

 

 

 

3.600% due 12/01/2040

 

1,988

 

1,926

3.720% due 01/01/2041

 

1,690

 

1,673

3.850% due 02/01/2038

 

1,792

 

1,804

4.080% due 06/01/2033

 

1,057

 

1,093

Total U.S. Government Agencies (Cost $6,141)

 

 

 

6,496

NON-AGENCY MORTGAGE-BACKED SECURITIES 0.6%

 

 

 

 

California Statewide Communities Development Authority
4.000% due 10/01/2042

 

1,100

 

1,108

Total Non-Agency Mortgage-Backed Securities (Cost $1,100)

 

 

 

1,108

Total Investments in Securities (Cost $289,606)

 

 

 

295,614

Total Investments 165.4% (Cost $289,606)

 

 

$

295,614

Auction Rate Preferred Shares (0.6)%

 

 

 

(1,125)

Remarketable Variable Rate MuniFund Term Preferred Shares, at liquidation value (66.2)%

 

 

 

(118,295)

Other Assets and Liabilities, net 1.4%

 

 

 

2,553

Net Assets Applicable to Common Shareholders 100.0%

 

 

$

178,747

Schedule of Investments PIMCO California Municipal Income Fund III (Cont.)

September 30, 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.

(a)

When-issued security.

(b)

Security is not accruing income as of the date of this report.

(c)

Zero coupon security.

(d)

Security becomes interest bearing at a future date.

(e)

RESTRICTED SECURITIES:

Issuer Description

Coupon

Maturity
Date

Acquisition
Date

 

Cost

 

Market
Value

Market Value

as Percentage

of Net Assets

Applicable to

Common

Shareholders

California Municipal Finance Authority Revenue Bonds, Series 2021

4.000

%

09/01/2050

08/03/2022

$

1,090

$

1,054

0.59

%

FAIR VALUE MEASUREMENTS

The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the Fund's assets and liabilities:

 

Category and Subcategory

Level 1

Level 2

Level 3

Fair Value
at 09/30/2024

Investments in Securities, at Value

Municipal Bonds & Notes

 

Arizona

$

0

$

29

$

0

$

29

 

 

California

 

0

 

262,734

 

0

 

262,734

 

 

Delaware

 

0

 

2,499

 

0

 

2,499

 

 

Illinois

 

0

 

1,066

 

0

 

1,066

 

 

New Hampshire

 

0

 

1,711

 

0

 

1,711

 

 

New York

 

0

 

421

 

0

 

421

 

 

Pennsylvania

 

0

 

1,158

 

0

 

1,158

 

 

Puerto Rico

 

0

 

13,853

 

0

 

13,853

 

 

Texas

 

0

 

2,606

 

0

 

2,606

 

 

Virginia

 

0

 

948

 

0

 

948

 

 

Wisconsin

 

0

 

985

 

0

 

985

 

U.S. Government Agencies

 

0

 

6,496

 

0

 

6,496

 

Non-Agency Mortgage-Backed Securities

 

0

 

1,108

 

0

 

1,108

 

Total Investments

$

0

$

295,614

$

0

$

295,614

 

 

There were no significant transfers into or out of Level 3 during the period ended September 30, 2024.

 

 

​

Notes to Financial Statements

 

1. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS

(a) 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 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.

 

(b) 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 September 30, 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   FHLMC   Federal Home Loan Mortgage Corp.   NPFGC   National Public Finance Guarantee Corp.
BAM   Build America Mutual Assurance   FNMA   Federal National Mortgage Association   PSF   Public School Fund
CM   California Mortgage Insurance                
                     
Other  Abbreviations:                
TBA   To-Be-Announced