PCM Fund : Third Quarter Report

MA R C H 3 1 , 2 0 2 1 ( U N A U D I T E D )

PCM Fund, Inc.

Portfolio Holdings

PCM Fund, Inc.

Notes to Financial Statements

Schedule of Investments PIMCO PCM Fund, Inc.

March 31, 2021

(Unaudited)

(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)
			PRINCIPAL		MARKET
			AMOUNT		VALUE
			(000s)		(000s)
INVESTMENTS IN SECURITIES 175.6% ¤
LOAN PARTICIPATIONS AND ASSIGNMENTS 15.1%
Caesars Resort Collection LLC
2.859%	(LIBOR03M + 2.750%) due 12/23/2024 ~	$	134	$	132
4.609%	(LIBOR03M + 4.500%) due 07/21/2025 ~		149		150
Clear Channel Outdoor Holdings, Inc.
3.712%	(LIBOR03M + 3.500%) due 08/21/2026 ~		99		95
Cornerstone Building Brands, Inc.
3.856%	(LIBOR03M + 3.750%) due 04/12/2025 ~		109		108
Diamond Resorts Corp.
4.750%	(LIBOR03M + 3.750%) due 09/02/2023 ~		653		654
Emerald TopCo, Inc.
3.712%	(LIBOR03M + 3.500%) due 07/24/2026 ~		6		6
Encina Private Credit LLC
TBD% (LIBOR03M + 3.074%) due 11/30/2025 «~µ		3,000		3,000
Envision Healthcare Corp.
3.859%	(LIBOR03M + 3.750%) due 10/10/2025 ~		3,866		3,341
EyeCare Partners LLC
3.859%	(LIBOR03M + 3.750%) due 02/18/2027 ~		12		12
Forbes Energy Services LLC
TBD% due 04/13/2021 «		590		137
IRB Holding Corp.
3.750%	(LIBOR03M + 2.750%) due 02/05/2025 ~		166		165
McDermott Technology Americas, Inc.
3.109%	(LIBOR03M + 3.000%) due 06/30/2024 «~		27		22
McDermott Technology Americas, Inc. (1.109% Cash and 3.000% PIK)
4.109%	(LIBOR03M + 1.000%) due 06/30/2025 ~(d)		188		111
MH Sub LLC
3.609%	(LIBOR03M + 3.500%) due 09/13/2024 ~		19		19
Nascar Holdings, Inc.
2.859%	(LIBOR03M + 2.750%) due 10/19/2026 ~		12		12
Parexel International Corp.
2.859%	(LIBOR03M + 2.750%) due 09/27/2024 ~		97		96
Park River Holdings, Inc.
4.000%	(LIBOR03M + 3.250%) due 12/28/2027 ~		800		797
Petco Health & Wellness Co.
4.000%	(LIBOR03M + 3.250%) due 03/03/2028 ~		1,120		1,117
PetSmart, Inc.
4.500%	(LIBOR03M + 3.750%) due 02/12/2028 ~		100		100
PUG LLC
3.609%	(LIBOR03M + 3.500%) due 02/12/2027 ~		6		6
Sequa Mezzanine Holdings LLC (11.750% Cash and 6.750% PIK)
18.500% (LIBOR03M + 10.750%) due 04/28/2024 ~(d)		834		780
Sotera Health Holdings LLC
3.250%	(LIBOR03M + 2.750%) due 12/11/2026 ~		24		24
Syniverse Holdings, Inc.
6.000%	(LIBOR03M + 5.000%) due 03/09/2023 ~		2,243		2,218
U.S. Renal Care, Inc.
5.125%	(LIBOR03M + 5.000%) due 06/26/2026 ~		681		678
Univision Communications, Inc.
2.857%	(LIBOR03M + 2.750%) due 03/15/2024 ~		2,329		2,315
Westmoreland Mining Holdings LLC
9.250%	(LIBOR03M + 8.250%) due 03/15/2022 «~		114		113
Westmoreland Mining Holdings LLC (15.000% PIK)
15.000% due 03/15/2029 «(d)		727		443
Windstream Services LLC
7.250%	(LIBOR03M + 6.250%) due 09/21/2027 ~		169		169
Total Loan Participations and Assignments (Cost $17,424)				16,820
CORPORATE BONDS & NOTES 41.2%
BANKING & FINANCE 10.4%
CBL & Associates LP
4.600% due 10/15/2024 ^(e)(k)		190		110
5.950% due 12/15/2026 ^(e)(k)		1,621		932
CIT Group, Inc.
5.000% due 08/15/2022 (k)		300		316
Equitable Holdings, Inc.
5.000% due 04/20/2048		2		3
Ford Motor Credit Co. LLC
1.429%	(US0003M + 1.235%) due 02/15/2023 ~(k)		500		495
3.377%	(US0003M + 3.140%) due 01/07/2022 ~(k)		280		283
5.125% due 06/16/2025 (k)		500		541

Schedule of Investments PIMCO PCM Fund, Inc. (Cont.)

March 31, 2021

(Unaudited)

Fortress Transportation & Infrastructure Investors LLC
6.500% due 10/01/2025 (k)	76	80
6.750% due 03/15/2022 (k)	54	54
Hunt Cos., Inc.
6.250% due 02/15/2026	6	6
Kennedy-Wilson, Inc.
5.875% due 04/01/2024	14	14
Ladder Capital Finance Holdings LLLP
4.250% due 02/01/2027	7	7
LPL Holdings, Inc.
4.000% due 03/15/2029 (k)	1,000	1,009
MGM Growth Properties Operating Partnership LP
4.625% due 06/15/2025 (k)	200	211
5.750% due 02/01/2027 (k)	900	994
Navient Corp.
5.625% due 01/25/2025	51	49
6.125% due 03/25/2024 (k)	102	108
6.500% due 06/15/2022 (k)	200	210
7.250% due 01/25/2022 (k)	300	312
7.250% due 09/25/2023	24	26
Newmark Group, Inc.
6.125% due 11/15/2023	20	22
Noble Corp. PLC (15.000% PIK)
15.000% due 02/15/2028 (d)	9	9
OneMain Finance Corp.
6.125% due 03/15/2024	24	26
PennyMac Financial Services, Inc.
4.250% due 02/15/2029 (k)	1,100	1,055
Piper Jaffray Cos.
4.740% due 10/15/2021	200	201
5.200% due 10/15/2023	900	903
Sabra Health Care LP
4.800% due 06/01/2024	32	35
Uniti Group LP
7.875% due 02/15/2025 (k)	2,420	2,619
Voyager Aviation Holdings LLC
9.000% due 08/15/2021 ^(e)(k)	1,842	953
		11,583
INDUSTRIALS 26.2%
American Airlines, Inc.
5.750% due 04/20/2029 (k)	1,200	1,278
Associated Materials LLC
9.000% due 09/01/2025 (k)	770	814
Boeing Co.
5.150% due 05/01/2030 (k)	123	142
5.705% due 05/01/2040 (k)	193	237
5.805% due 05/01/2050 (k)	129	163
5.930% due 05/01/2060 (k)	310	399
Caesars Resort Collection LLC
5.750% due 07/01/2025 (k)	400	423
CCO Holdings LLC
4.500% due 08/15/2030	26	27
4.750% due 03/01/2030 (k)	36	37
Charles River Laboratories International, Inc.
3.750% due 03/15/2029	600	602
4.000% due 03/15/2031	500	509
Charter Communications Operating LLC
3.850% due 04/01/2061	200	184
4.800% due 03/01/2050 (k)	41	44
Cinemark USA, Inc.
5.875% due 03/15/2026	1,100	1,129
Clear Channel Worldwide Holdings, Inc.
9.250% due 02/15/2024	14	15
Community Health Systems, Inc.
4.750% due 02/15/2031 (k)	200	196
5.625% due 03/15/2027 (k)	1,480	1,552
6.625% due 02/15/2025 (k)	221	234
8.000% due 03/15/2026	78	84
Corning, Inc.
5.450% due 11/15/2079	14	17
CVS Pass-Through Trust
5.880% due 01/10/2028 (k)	911	1,050
DAE Funding LLC
4.500% due 08/01/2022	10	10
5.000% due 08/01/2024	22	23
5.250% due 11/15/2021 (k)	102	104
DaVita, Inc.
4.625% due 06/01/2030 (k)	900	918
Delta Air Lines, Inc.
7.375% due 01/15/2026 (k)	920	1,077
Diamond Resorts International, Inc.
7.750% due 09/01/2023	20	21
10.750% due 09/01/2024 (k)	246	261

Schedule of Investments PIMCO PCM Fund, Inc. (Cont.)

March 31, 2021

(Unaudited)

Energy Transfer Operating LP
5.000% due 05/15/2050	14	15
Envision Healthcare Corp.
8.750% due 10/15/2026 (k)	382	284
EQM Midstream Partners LP
4.500% due 01/15/2029 (k)	1,100	1,074
Exela Intermediate LLC
10.000% due 07/15/2023	23	8
Fresh Market, Inc.
9.750% due 05/01/2023 (k)	350	361
Full House Resorts, Inc.
8.250% due 02/15/2028	110	117
General Electric Co.
5.875% due 01/14/2038	4	5
6.150% due 08/07/2037	2	3
6.875% due 01/10/2039	10	14
iHeartCommunications, Inc.
6.375% due 05/01/2026 (k)	233	247
Innophos Holdings, Inc.
9.375% due 02/15/2028	23	25
Kronos Acquisition Holdings, Inc.
5.000% due 12/31/2026 (k)	300	300
7.000% due 12/31/2027 (k)	300	288
Lamar Media Corp.
3.625% due 01/15/2031 (k)	500	484
NCL Corp. Ltd.
10.250% due 02/01/2026 (k)	988	1,162
NCR Corp.
5.125% due 04/15/2029 (c)	230	232
Netflix, Inc.
5.375% due 11/15/2029	12	14
Occidental Petroleum Corp.
1.644% (US0003M + 1.450%) due 08/15/2022 ~(k)	1,000	990
Ortho-Clinical Diagnostics, Inc.
7.375% due 06/01/2025	4	4
Owens & Minor, Inc.
4.500% due 03/31/2029 (k)	500	503
Post Holdings, Inc.
4.500% due 09/15/2031 (k)	1,400	1,386
RP Escrow Issuer LLC
5.250% due 12/15/2025 (k)	1,000	1,038
Spirit AeroSystems, Inc.
3.950% due 06/15/2023 (k)	520	516
Staples, Inc.
7.500% due 04/15/2026	3	3
Tenet Healthcare Corp.
6.750% due 06/15/2023 (k)	300	325
Topaz Solar Farms LLC
4.875% due 09/30/2039 (k)	308	337
5.750% due 09/30/2039 (k)	2,078	2,383
TopBuild Corp.
3.625% due 03/15/2029	100	99
TransDigm, Inc.
5.500% due 11/15/2027	8	8
Transocean Pontus Ltd.
6.125% due 08/01/2025	20	19
Transocean, Inc.
7.250% due 11/01/2025	51	33
Travel + Leisure Co.
3.900% due 03/01/2023	14	14
4.625% due 03/01/2030	5	5
6.000% due 04/01/2027 (k)	154	171
TripAdvisor, Inc.
7.000% due 07/15/2025 (k)	1,000	1,083
Triumph Group, Inc.
5.250% due 06/01/2022	4	4
6.250% due 09/15/2024	11	11
Twilio, Inc.
3.625% due 03/15/2029 (k)	800	812
U.S. Renal Care, Inc.
10.625% due 07/15/2027	12	13
UAL Pass-Through Trust
6.636% due 01/02/2024 (k)	322	331
Univision Communications, Inc.
5.125% due 02/15/2025 (k)	438	444
Viking Ocean Cruises Ship Ltd.
5.625% due 02/15/2029 (k)	1,100	1,114
Western Midstream Operating LP
2.325% (US0003M + 1.850%) due 01/13/2023 ~	9	9
Windstream Escrow LLC
7.750% due 08/15/2028 (k)	1,309	1,336

Schedule of Investments PIMCO PCM Fund, Inc. (Cont.)

March 31, 2021

(Unaudited)

Zayo Group Holdings, Inc.
6.125% due 03/01/2028	12	12
		29,186
UTILITIES 4.6%
Crestwood Midstream Partners LP
6.000% due 02/01/2029 (k)	1,300	1,283
Edison International
5.750% due 06/15/2027	11	13
Lumen Technologies, Inc.
4.000% due 02/15/2027	14	14
Pacific Gas & Electric Co.
3.750% due 08/15/2042	2	2
4.000% due 12/01/2046	2	2
4.300% due 03/15/2045	24	23
4.500% due 07/01/2040	53	54
4.500% due 12/15/2041	26	25
4.550% due 07/01/2030 (k)	712	772
4.600% due 06/15/2043	9	9
4.750% due 02/15/2044 (k)	157	161
4.950% due 07/01/2050 (k)	726	747
Southern California Edison Co.
3.650% due 02/01/2050	5	5
4.125% due 03/01/2048	16	17
4.650% due 10/01/2043	30	34
4.875% due 03/01/2049	40	47
5.750% due 04/01/2035	2	3
6.000% due 01/15/2034	20	26
6.650% due 04/01/2029	13	16
Sprint Corp.
7.125% due 06/15/2024 (k)	158	182
7.625% due 02/15/2025 (k)	394	470
7.625% due 03/01/2026 (k)	954	1,170
Talen Energy Supply LLC
6.625% due 01/15/2028	4	4
Transocean Poseidon Ltd.
6.875% due 02/01/2027	20	19
		5,098
Total Corporate Bonds & Notes (Cost $45,249)		45,867
CONVERTIBLE BONDS & NOTES 0.5%
INDUSTRIALS 0.5%
Multiplan Corp.
6.000% due 10/15/2027	700	595
Total Convertible Bonds & Notes (Cost $684)		595
U.S. GOVERNMENT AGENCIES 5.2%
Fannie Mae
3.759% due 02/25/2040 •	50	51
4.000% due 06/25/2050 (a)	1,233	159
4.000% due 06/25/2050 (a)(k)	4,052	702
5.859% due 07/25/2029 •	230	251
Freddie Mac
0.000% due 02/25/2046 (b)(h)	435	413
0.100% due 02/25/2046 (a)	436	0
0.700% due 11/25/2055 ~(a)(k)	6,212	412
2.011% due 11/25/2045 ~(a)(k)	1,027	121
3.500% due 02/25/2041 (a)(k)	2,853	389
3.591% due 06/25/2041 ~(a)	10,500	0
4.000% due 07/25/2050 (a)(k)	9,414	1,730
5.000% due 03/15/2040 (a)	1,552	109
5.259% due 10/25/2029 •	250	270
6.041% due 05/25/2050 •(a)(k)	2,733	508
7.659% due 12/25/2027 •	445	482
Uniform Mortgage-Backed Security, TBA
2.000% due 06/01/2036	200	205
Total U.S. Government Agencies (Cost $5,719)		5,802
NON-AGENCYMORTGAGE-BACKED SECURITIES 34.1%
Adjustable Rate Mortgage Trust
2.829% due 01/25/2036 ^~	70	66
Banc of America Alternative Loan Trust
5.861% due 04/25/2037 ^~	112	112
Banc of America Funding Trust
2.186% due 12/20/2034 ~	249	169
2.640% due 03/20/2036 ~	58	54
5.806% due 03/25/2037 ^~	62	66
7.000% due 10/25/2037 ^	411	332