Strategic Income Fund, Inc.


Schedule of Investments PIMCO Strategic Income Fund, Inc.	September 30, 2025 (Unaudited)


(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)
		PRINCIPAL AMOUNT (000s)		MARKET VALUE (000s)
INVESTMENTS IN SECURITIES 267.8% ¤
LOAN PARTICIPATIONS AND ASSIGNMENTS 18.1%
Altar Bidco, Inc. 9.578% due 02/01/2030 ~	$	700	$	672
Altice France SA 9.818% (TSFR3M + 5.500%) due 08/15/2028 «~		792		768
Central Parent, Inc. 7.252% (TSFR3M + 3.250%) due 07/06/2029 ~		1,091		947
Envision Healthcare Corp. 12.230% (TSFR3M + 7.875%) due 11/03/2028 «~		3,738		3,851
Forward Air Corp. 8.810% (TSFR3M + 4.500%) due 12/19/2030 ~		1,300		1,299
Gateway Casinos & Entertainment Ltd. 10.276% (TSFR3M + 6.250%) due 12/18/2030 ~		1,972		1,974
Ivanti Software, Inc.
TBD% - 10.051% (TSFR3M + 5.750%) due 06/01/2029 ~µ		165		170
TBD% - 10.051% (TSFR3M + 4.750%) due 06/01/2029 ~		1,234		1,031
Lealand Finance Co. BV 7.278% (TSFR1M + 3.000%) due 06/30/2027 ~		28		22
Lealand Finance Co. BV (5.278% Cash) 5.278% due 12/31/2027 ~		216		155
Mercury Aggregator LP (19.000% PIK) 19.000% due 04/03/2026 «(c)		926		272
OCS Group Holdings Ltd. 9.961% due 11/28/2031	GBP	1,650		2,220
Peraton Corp. 8.013% (TSFR1M + 3.750%) due 02/01/2028 ~	$	2,361		1,997
Poseidon Bidco SASU 7.000% (EUR003M + 5.000%) due 03/13/2030 ~	EUR	1,000		552
Promotora de Informaciones SA 7.494% (EUR003M + 5.470%) due 12/31/2029 «~		5,052		5,842
Steenbok Lux Finco 2 SARL 10.000% due 06/30/2026		12,150		3,392
Stepstone Group MidCo 2 GmbH
6.673% (EUR006M + 4.500%) due 04/26/2032 ~		2,000		2,316
8.608% (TSFR3M + 4.500%) due 12/19/2031 ~	$	299		285
Syniverse Holdings, Inc. 11.002% (TSFR3M + 7.000%) due 05/13/2027 ~		4,744		4,642
U.S. Renal Care, Inc. 9.278% (TSFR1M + 5.000%) due 06/28/2028 ~		3,980		3,810
Westmoreland Coal Co. 8.000% due 03/15/2029 «		2		1
X Corp.
9.500% due 10/26/2029		500		502
10.958% (TSFR3M + 6.500%) due 10/26/2029 ~		2,681		2,633

Total Loan Participations and Assignments (Cost $46,902)				39,353

CORPORATE BONDS & NOTES 44.7%
BANKING & FINANCE 12.1%
Antares Holdings LP 6.350% due 10/23/2029 (j)		1,500		1,535
Armor Holdco, Inc. 8.500% due 11/15/2029 (j)		1,300		1,298
BGC Group, Inc. 6.600% due 06/10/2029 (j)		1,000		1,040
CI Financial Corp. 7.500% due 05/30/2029 (j)		1,300		1,386
Corestate Capital Holding SA (8.000% Cash or 9.000% PIK) 8.000% due 12/31/2026 (c)	EUR	150		71
Country Garden Holdings Co. Ltd.
5.400% due 05/27/2049 ^(d)	$	1,000		110
6.150% due 09/17/2049 ^(d)		200		22
Credit Suisse AG AT1 Claim		600		78
Diversified Healthcare Trust 7.250% due 10/15/2030		800		814
EPR Properties 3.750% due 08/15/2029		100		96
F&G Annuities & Life, Inc.
6.250% due 10/04/2034 (j)		400		408
6.500% due 06/04/2029 (j)		700		730
Fairfax India Holdings Corp. 5.000% due 02/26/2028 (j)		2,400		2,267


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


Ford Motor Credit Co. LLC
5.918% due 03/20/2028 (j)		700	712
6.183% (SOFRRATE + 2.030%) due 03/20/2028 ~(j)		1,900	1,901
HA Sustainable Infrastructure Capital, Inc.
6.150% due 01/15/2031 (j)		2,300	2,364
6.375% due 07/01/2034 (j)		1,000	1,018
Hudson Pacific Properties LP
3.250% due 01/15/2030 (j)		300	258
4.650% due 04/01/2029 (j)		300	279
5.950% due 02/15/2028 (j)		900	888
Marex Group PLC
5.829% due 05/08/2028 (j)		200	203
6.404% due 11/04/2029 (j)		1,000	1,032
Nissan Motor Acceptance Co. LLC 6.226% (SOFRINDX + 2.050%) due 09/13/2027 ~(j)		665	664
Sammons Financial Group, Inc. 6.875% due 04/15/2034 (j)		1,000	1,102
Titanium 2l Bondco SARL 6.250% due 01/14/2031	EUR	5,074	1,566
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC 6.000% due 01/15/2030 (j)	$	2,738	2,482
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC
6.500% due 02/15/2029 (j)		1,700	1,598
8.625% due 06/15/2032		100	96
10.500% due 02/15/2028 (j)		213	225

			26,243

INDUSTRIALS 27.6%
Altice France Holding SA
8.000% due 05/15/2027	EUR	1,100	469
10.500% due 05/15/2027	$	3,000	1,088
Altice France SA
3.375% due 01/15/2028	EUR	1,100	1,114
4.000% due 07/15/2029		400	406
4.250% due 10/15/2029		500	510
5.125% due 07/15/2029	$	400	344
5.500% due 01/15/2028		200	177
5.500% due 10/15/2029		391	340
5.875% due 02/01/2027	EUR	300	319
8.125% due 02/01/2027	$	1,400	1,339
Beignet 6.850% due 06/01/2049 «(b)		4,310	4,310
Block, Inc. 6.000% due 08/15/2033		900	922
Burberry Group PLC 5.750% due 06/20/2030 (j)	GBP	2,627	3,551
Centene Corp.
2.450% due 07/15/2028	$	900	837
3.000% due 10/15/2030		900	805
3.375% due 02/15/2030		100	92
4.250% due 12/15/2027		500	491
4.625% due 12/15/2029		250	243
Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc. 8.000% due 06/15/2029		50	44
Central Parent, Inc./CDK Global, Inc. 7.250% due 06/15/2029		50	43
Cleveland-Cliffs, Inc. 7.625% due 01/15/2034		910	938
CVS Pass-Through Trust 7.507% due 01/10/2032 (j)		450	480
DISH DBS Corp.
5.250% due 12/01/2026		3,558	3,499
5.750% due 12/01/2028		3,000	2,878
Ecopetrol SA
6.875% due 04/29/2030 (j)		2,860	2,933
7.750% due 02/01/2032		1,300	1,346
8.375% due 01/19/2036		80	83
EW Scripps Co. 9.875% due 08/15/2030		300	282
Gazprom PJSC Via Gaz Capital SA 8.625% due 04/28/2034		1,710	1,496
HF Sinclair Corp. 6.250% due 01/15/2035 (j)		1,000	1,046
Incora Intermediate II LLC 0.000% (SOFRRATE + 8.000%) due 01/31/2030 «~		3,748	3,748
Incora Top Holdco LLC 6.000% due 01/30/2033 «~(i)		2,694	4,358
JetBlue Airways Corp./JetBlue Loyalty LP 9.875% due 09/20/2031 (j)		827	840
Manuchar Group SARL 7.014% due 07/07/2032 •	EUR	500	581
MPH Acquisition Holdings LLC (6.500% Cash and 5.000% PIK) 11.500% due 12/31/2030 (c)	$	615	644
Newfold Digital Holdings Group, Inc.
6.000% due 02/15/2029 «		1,200	750


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


11.750% due 10/15/2028 «		1,250	888
Nissan Motor Co. Ltd. 4.810% due 09/17/2030 (j)		2,600	2,451
Paradigm Parent LLC & Paradigm Parent Co-Issuer, Inc. 8.750% due 04/17/2032		1,000	973
Petroleos Mexicanos
6.700% due 02/16/2032 (j)		784	777
6.840% due 01/23/2030 (j)		200	204
8.750% due 06/02/2029 (j)		350	377
Spirit Airlines Pass-Through Trust 4.100% due 10/01/2029		540	513
Topaz Solar Farms LLC 4.875% due 09/30/2039 (j)		647	569
Tronox, Inc. 9.125% due 09/30/2030		900	882
U.S. Renal Care, Inc. 10.625% due 06/28/2028 (j)		1,454	1,272
United Airlines Pass-Through Trust 4.150% due 02/25/2033		63	62
Vale SA 0.000% due 12/29/2049 ~(h)	BRL	50,000	3,372
Venture Global LNG, Inc. 7.000% due 01/15/2030 (j)	$	1,500	1,553
Venture Global Plaquemines LNG LLC
6.500% due 01/15/2034		700	737
6.750% due 01/15/2036		700	744
Viridien
8.500% due 10/15/2030	EUR	600	732
10.000% due 10/15/2030 (j)	$	400	412

			59,864

UTILITIES 5.0%
Edison International
5.250% due 11/15/2028 (j)		3,300	3,327
6.250% due 03/15/2030 (j)		100	104
Hawaiian Electric Co., Inc. 6.000% due 10/01/2033		1,000	1,009
NGD Holdings BV 6.750% due 12/31/2026		1,131	1,029
OI SA (10.000% Cash or 6.000% PIK and 7.500% Cash or 13.500% PIK) 10.000% due 06/30/2027 (c)		2,392	1,579
OI SA (8.500% PIK) 8.500% due 12/31/2028 (c)		2,231	67
Pacific Gas & Electric Co. 4.300% due 03/15/2045 (j)		950	763
Peru LNG SRL 5.375% due 03/22/2030 (j)		2,100	2,017
SW Finance I PLC 1.625% due 03/30/2027	GBP	800	1,010

			10,905

Total Corporate Bonds & Notes (Cost $100,439)			97,012

CONVERTIBLE BONDS & NOTES 0.0%
BANKING & FINANCE 0.0%
Corestate Capital Holding SA (8.000% Cash or 9.000% PIK) 8.000% due 12/31/2026 (c)	EUR	175	83

Total Convertible Bonds & Notes (Cost $197)			83

MUNICIPAL BONDS & NOTES 2.6%
CALIFORNIA 0.4%
Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021
3.487% due 06/01/2036	$	1,000	852
3.850% due 06/01/2050		45	41

			893

ILLINOIS 0.0%
Illinois State General Obligation Bonds, (BABs), Series 2010 6.725% due 04/01/2035		12	12

MICHIGAN 1.1%
Detroit, Michigan General Obligation Bonds, Series 2014 4.000% due 04/01/2044		2,983	2,350

WEST VIRGINIA 1.1%
Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2007 0.000% due 06/01/2047 (g)		25,300	2,365


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


Total Municipal Bonds & Notes (Cost $6,805)		5,620

U.S. GOVERNMENT AGENCIES 156.8%
Federal Home Loan Mortgage Corp.
5.500% due 04/01/2039 (j)	761	789
6.000% due 02/01/2033 - 02/01/2034	25	25
6.436% due 12/01/2026 •	1	1
6.500% due 06/01/2029 - 07/01/2037	53	53
7.000% due 03/01/2031 - 12/01/2036	111	115
7.500% due 12/01/2025 - 03/01/2037	138	141
8.000% due 12/01/2026	4	4
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates 2.079% due 11/25/2045 ~(a)	5,336	213
Federal Home Loan Mortgage Corp. REMICS
0.000% due 11/15/2048 •(a)(j)	4,210	147
1.529% due 04/25/2048 - 11/25/2049 •(a)(j)	23,146	3,143
1.679% due 05/25/2050 •(a)	509	69
1.841% due 11/15/2038 ~(a)(j)	4,946	267
1.882% due 05/15/2038 ~(a)	1,413	122
2.190% due 08/15/2036 ~(a)	472	32
3.000% due 11/25/2050 (a)(j)	7,387	1,376
3.000% due 01/25/2051 (a)	430	79
3.500% due 05/25/2050 (a)	447	85
5.500% due 06/15/2041 (j)	860	898
6.000% due 12/15/2028 - 03/15/2035	328	339
6.500% due 03/15/2026 - 06/15/2032	526	547
6.500% due 07/15/2032 (j)	169	177
7.000% due 07/15/2027 - 06/15/2031	253	260
7.500% due 03/15/2028	3	3
8.000% due 04/15/2030	6	7
Federal Home Loan Mortgage Corp. STACR REMICS Trust
11.856% due 10/25/2041 •(j)	2,800	2,941
12.156% due 11/25/2041 •(j)	2,800	2,969
Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates
4.404% due 07/25/2032 ~	53	49
6.500% due 02/25/2043 - 10/25/2043	139	143
6.500% due 09/25/2043 ~	32	33
6.500% due 03/25/2044 (j)	1,018	1,030
7.000% due 02/25/2043 - 10/25/2043	248	259
7.500% due 02/25/2042	15	16
Federal National Mortgage Association
4.000% due 06/01/2047 - 03/01/2048	166	160
4.000% due 09/01/2047 - 11/01/2047 (j)	4,267	4,104
4.500% due 03/01/2028 - 08/01/2041	90	90
6.000% due 12/01/2032 - 10/01/2036	102	105
6.000% due 04/01/2035 - 06/01/2040 (j)	1,272	1,338
6.135% due 09/01/2028 •	1	1
6.450% due 11/01/2027 •	3	3
6.500% due 11/01/2028 - 11/01/2047	477	499
6.500% due 04/01/2037 (j)	104	106
7.000% due 07/01/2034 - 01/01/2047	26	27
8.000% due 09/01/2027 - 11/01/2031	25	24
Federal National Mortgage Association Grantor Trust
6.000% due 01/25/2044	402	417
6.500% due 12/25/2041 - 08/25/2042	838	876
7.000% due 07/25/2042 - 11/25/2043	60	62
7.500% due 11/25/2040 - 07/25/2042	162	165
7.500% due 06/19/2041 ~	51	53
8.000% due 06/19/2041 ~	469	483
Federal National Mortgage Association Interest STRIPS 5.000% due 07/25/2037 (a)	343	48
Federal National Mortgage Association REMICS
0.000% due 02/25/2052 •(a)	104,088	456
1.149% due 12/25/2042 ~(a)	2,067	32
1.529% due 10/25/2049 •(a)(j)	5,338	741
1.579% due 02/25/2049 •(a)	50	6
1.629% due 07/25/2050 •(a)(j)	787	99
1.744% due 08/25/2054 ~(a)(j)	3,016	160
2.279% due 07/25/2041 •(a)	180	6
2.500% due 12/25/2027 (a)	195	3
3.000% due 06/25/2050 (a)	966	181
3.500% due 07/25/2036 (a)(j)	2,087	191
3.500% due 07/25/2042 - 12/25/2049 (a)	286	31
4.000% due 06/25/2050 (a)(j)	499	97
4.500% due 07/25/2040	318	317
5.000% due 01/25/2038 (j)	1,588	1,622
5.000% due 07/25/2038	44	45
5.500% due 11/25/2032 (j)	863	885
5.500% due 12/25/2034 - 04/25/2035	577	594
5.750% due 06/25/2033	6	7
6.000% due 09/25/2031	31	32
6.500% due 09/25/2031 - 03/25/2032	176	181
6.850% due 12/18/2027	1	1
7.000% due 06/18/2027 - 03/25/2045	182	186
8.500% due 06/18/2027 - 06/25/2030	5	5


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


Federal National Mortgage Association REMICS Trust
4.409% due 02/25/2042 ~		183	184
4.721% due 12/25/2042 ~		12	12
5.089% due 10/25/2042 ~		5	5
5.130% due 10/25/2042 ~		130	133
5.807% due 08/25/2043		589	588
7.000% due 09/25/2041 ~		129	129
Federal National Mortgage Association Trust
6.500% due 09/25/2042 - 06/25/2044		344	353
7.000% due 02/25/2044		15	16
7.500% due 07/25/2042 - 06/25/2044		115	119
Government National Mortgage Association
4.000% due 10/15/2051 - 03/15/2052 (j)		6,418	6,076
4.000% due 03/15/2052		37	35
6.000% due 04/15/2029 - 12/15/2038		286	296
6.000% due 11/15/2038 (j)		104	109
6.500% due 04/15/2032 - 01/20/2055		524	539
7.500% due 03/15/2026 - 02/15/2029		81	79
8.500% due 02/15/2031		4	4
Government National Mortgage Association REMICS
1.800% due 08/20/2049 - 09/20/2049 •(a)(j)		40,151	5,273
1.950% due 06/20/2047 •(a)(j)		4,294	562
Government National Mortgage Association, TBA
3.500% due 11/01/2055		1,800	1,641
4.000% due 11/01/2055		3,700	3,479
4.500% due 11/01/2055		100	97
6.500% due 11/01/2055		600	616
U.S. Small Business Administration
5.510% due 11/01/2027		33	33
5.780% due 08/01/2027		2	2
5.820% due 07/01/2027		2	2
Uniform Mortgage-Backed Security, TBA
5.000% due 11/01/2055		700	694
6.500% due 10/01/2055 - 11/01/2055		257,800	266,586
7.000% due 11/01/2055		20,800	21,780
Vendee Mortgage Trust
6.500% due 03/15/2029		16	16
6.750% due 02/15/2026 - 06/15/2026		5	5
7.500% due 09/15/2030		449	471

Total U.S. Government Agencies (Cost $358,205)			340,705

NON-AGENCY MORTGAGE-BACKED SECURITIES 20.7%
Adjustable Rate Mortgage Trust
6.662% due 07/25/2035 ~		103	100
6.972% due 08/25/2035 ~		94	93
Ashford Hospitality Trust 5.723% due 04/15/2035 •(j)		2,200	2,197
Atrium Hotel Portfolio Trust 5.948% due 12/15/2036 •(j)		1,600	1,573
Banc of America Mortgage Trust 5.111% due 02/25/2035 ~		3	3
BCAP LLC Trust 4.855% due 07/26/2036 ~		88	74
Bear Stearns ALT-A Trust 4.164% due 08/25/2036 ~		196	89
Bear Stearns Commercial Mortgage Securities Trust
5.657% due 10/12/2041 ~		52	51
5.947% due 12/11/2040 ~		82	82
CALI Mortgage Trust 3.957% due 03/10/2039 (j)		1,000	960
CHL Mortgage Pass-Through Trust
4.912% due 03/25/2035 •		575	504
5.345% due 08/25/2034 ~		100	98
6.142% due 03/25/2046 •		563	427
CHL Reperforming Loan Trust REMICS
7.500% due 11/25/2034		63	63
7.500% due 06/25/2035		19	19
CLNY Trust 6.613% due 11/15/2038 •(j)		1,000	967
COMM Mortgage Trust 10.265% due 12/15/2038 •		1,380	1,197
Countrywide Alternative Loan Trust 4.692% due 07/25/2046 •		740	679
CSFB Mortgage-Backed Pass-Through Certificates 7.000% due 02/25/2034		40	41
CSMC Mortgage-Backed Trust 6.500% due 03/25/2036		731	77
CSMC Trust 3.431% due 11/10/2032		1,200	961
Eurosail-U.K. PLC
5.705% due 09/13/2045 •	GBP	1,582	1,997
6.355% due 09/13/2045 •		1,130	1,369
7.955% due 09/13/2045 •		960	1,299
GC Pastor Hipotecario 5 FTA 2.199% due 06/21/2046 •	EUR	465	505


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


GMACM Mortgage Loan Trust 0.000% due 08/19/2034 ~	$	14	12
GSAA Trust 6.000% due 04/01/2034		280	285
GSMPS Mortgage Loan Trust
7.000% due 06/25/2043 (j)		1,109	1,172
7.500% due 06/19/2027 ~		10	9
8.000% due 09/19/2027 ~		239	233
GSR Mortgage Loan Trust
4.602% due 12/25/2034 •		28	26
IM Pastor 3 FTH 2.169% due 03/22/2043 •	EUR	143	149
JP Morgan Chase Commercial Mortgage Securities Trust
4.997% due 04/15/2037 •(j)	$	976	963
6.014% due 12/15/2036 •		1,700	89
6.015% due 03/15/2036 •		900	655
7.448% due 02/15/2035 •(j)		987	947
10.805% due 11/15/2038 •(j)		2,200	2,214
JP Morgan Mortgage Trust
5.500% due 06/25/2037		1	1
6.361% due 10/25/2036 ~		567	443
MASTR Adjustable Rate Mortgages Trust 4.024% due 10/25/2034 ~		191	175
MASTR Alternative Loan Trust
6.250% due 07/25/2036		181	87
7.000% due 04/25/2034		13	14
MASTR Reperforming Loan Trust
7.000% due 05/25/2035		1,972	1,291
7.500% due 07/25/2035		1,040	692
Morgan Stanley Resecuritization Trust 4.357% due 12/26/2046 ~		5,785	5,374
NAAC Reperforming Loan REMICS Trust 7.500% due 03/25/2034 (j)		1,173	1,104
NACC Reperforming Loan REMICS Trust
7.000% due 10/25/2034		375	345
7.500% due 10/25/2034		1,125	1,039
New Orleans Hotel Trust 5.787% due 04/15/2032 •		1,000	982
Newgate Funding PLC
3.264% due 12/15/2050 •	EUR	1,016	1,163
3.514% due 12/15/2050 •		1,016	1,110
RALI Trust 6.000% due 08/25/2035	$	573	511
RBSSP Resecuritization Trust
6.000% due 02/26/2037 ~		2,138	1,075
6.250% due 12/26/2036 ~		5,173	1,743
Residential Asset Mortgage Products Trust
8.500% due 10/25/2031		116	108
8.500% due 11/25/2031		597	283
8.500% due 12/25/2031		5	2
Seasoned Credit Risk Transfer Trust 5.000% due 06/25/2065 ~		1,800	1,508
Structured Asset Securities Corp. Mortgage Loan Trust 7.500% due 10/25/2036		2,008	1,137
WaMu Mortgage Pass-Through Certificates Trust 5.398% due 05/25/2035 ~		36	36
Washington Mutual MSC Mortgage Pass-Through Certificates Trust
7.000% due 03/25/2034		23	24
7.500% due 04/25/2033		57	59
Wells Fargo Commercial Mortgage Trust 5.092% due 12/15/2039 ~		2,558	2,387

Total Non-Agency Mortgage-Backed Securities (Cost $48,377)			44,872

ASSET-BACKED SECURITIES 4.6%
AUTOMOBILE ABS OTHER 0.0%
Flagship Credit Auto Trust 0.000% due 12/15/2025 «(g)		12	0

HOME EQUITY OTHER 1.5%
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates 7.797% due 11/25/2032 •		39	27
Bear Stearns Asset-Backed Securities I Trust 2.709% due 09/25/2034 •		57	58
Countrywide Asset-Backed Certificates Trust
3.943% due 11/25/2034 •(j)		2,297	1,945
4.672% due 06/25/2037 •(j)		1,257	1,269

			3,299

MANUFACTURING HOUSE ABS OTHER 0.0%
Access Financial Manufactured Housing Contract Trust 7.650% due 05/15/2049		200	0


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


MANUFACTURING HOUSE SEQUENTIAL 0.1%
Conseco Finance Corp. 6.530% due 02/01/2031 ~		31	29
Conseco Finance Securitizations Corp. 7.960% due 05/01/2031		1,417	271

			300

OTHER ABS 3.0%
ABSLT DE LLC 12.635% due 05/20/2033 «~		2,000	2,033
ECAF I Ltd. 4.947% due 06/15/2040		593	535
Elmwood CLO II Ltd. 0.000% due 04/20/2034 ~		1,213	595
Madison Park Funding XXIII Ltd. 0.000% due 07/27/2047 ~		500	153
Man GLG U.S. CLO Ltd. 0.000% due 07/15/2034 ~		250	131
Marlette Funding Trust
0.000% due 12/15/2028 «(g)		6	0
0.000% due 04/16/2029 «(g)		10	0
0.000% due 07/16/2029 «(g)		7	0
National Collegiate V Commutation Trust 0.000% due 03/25/2038 •		10,387	1,540
SMB Private Education Loan Trust
0.000% due 10/15/2048 «(g)		5	1,041
0.000% due 02/16/2055 «(g)		0	458

			6,486

Total Asset-Backed Securities (Cost $29,790)			10,085

SOVEREIGN ISSUES 7.7%
Argentina Bonar Bonds 0.750% due 07/09/2030 þ		412	211
Argentina Republic Government International Bonds
1.000% due 07/09/2029		215	156
4.125% due 07/09/2046 þ		110	58
5.000% due 01/09/2038 þ(j)		4,388	2,475
Avenir Issuer IV Ireland DAC 6.000% due 10/25/2027		700	676
Colombia Government International Bonds
3.750% due 09/19/2028	EUR	1,000	1,173
5.000% due 09/19/2032		800	929
5.625% due 02/19/2036		1,000	1,137
Dominican Republic International Bonds 10.500% due 03/15/2037 (j)	DOP	130,400	2,246
Ghana Government International Bonds
0.000% due 07/03/2026 (g)	$	11	11
0.000% due 01/03/2030 (g)		34	29
5.000% due 07/03/2029 þ		172	168
5.000% due 07/03/2035 þ		247	209
Romania Government International Bonds
5.125% due 09/24/2031	EUR	2,800	3,283
5.250% due 05/30/2032		1,900	2,229
Turkiye Government Bonds
40.854% (BISTREFI) due 09/06/2028 ~	TRY	57,400	1,346
42.493% (BISTREFI) due 05/17/2028 ~		10,000	236
Venezuela Government International Bonds 9.250% due 09/15/2027 ^(d)	$	171	42

Total Sovereign Issues (Cost $16,840)			16,614

		SHARES
COMMON STOCKS 8.7%
COMMUNICATION SERVICES 1.1%
Clear Channel Outdoor Holdings, Inc. (e)		291,816	461
iHeartMedia, Inc. Class A (e)		68,102	195
iHeartMedia, Inc. Class B «(e)		52,880	133
OI SA (e)		358,638	36
Promotora de Informaciones SA Class A (e)		207,627	90
SES SA «(e)		98,888	1,177
Uniti Group, Inc. (e)		32,871	201

			2,293

CONSUMER STAPLES 0.0%
Steinhoff International Holdings NV «(e)(i)		17,707,907	0


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


FINANCIALS 1.4%
Banca Monte dei Paschi di Siena SpA		323,500	2,864
Intelsat SA «(e)(i)		98,888	0
MNSN Holdings, Inc. (e)(i)		1,054	63
Unity Bancorp, Inc. «(e)		33,629	189
XBP Global Holdings, Inc. (e)		3,717	3

			3,119

HEALTH CARE 4.0%
AmSurg Corp. «(e)(i)		192,582	8,694

INDUSTRIALS 2.2%
Incora New Equity «(e)(i)		121,860	4,892
Westmoreland Mining Holdings «(e)(i)		69	0
Westmoreland Mining LLC «(e)(i)		219	0

			4,892

Total Common Stocks (Cost $22,100)			18,998

WARRANTS 0.0%
FINANCIALS 0.0%
Windstream Holdings II LLC - Exp. 10/25/2059 «		6,551	37

Total Warrants (Cost $40)			37

PREFERRED SECURITIES 1.5%
BANKING & FINANCE 0.7%
ADLER Group SA «		906,702	0
Capital Farm Credit ACA 5.000% due 03/15/2026 •(h)		1,300,000	1,291
Windstream Holdings II LLC 11.000% «(e)		215	215

			1,506

INDUSTRIALS 0.8%
SVB Financial Trust
0.000% due 11/07/2032 (g)		5,040	1
11.000% due 11/07/2032		1,202	655
Syniverse Holdings, Inc. 12.500% «(i)		1,066,208	1,039

			1,695

Total Preferred Securities (Cost $3,243)			3,201

REAL ESTATE INVESTMENT TRUSTS 0.5%
REAL ESTATE 0.5%
VICI Properties, Inc.		33,427	1,090

Total Real Estate Investment Trusts (Cost $477)			1,090

		PRINCIPAL AMOUNT (000s)
SHORT-TERM INSTRUMENTS 1.9%
NIGERIA TREASURY BILLS 1.2%
31.083% due 06/11/2026 - 06/29/2026 ~(f)(g)	NGN	4,232,990	2,491

U.S. TREASURY BILLS 0.7%
4.001% due 10/21/2025 - 01/27/2026 (f)(g)(l)(n)	$	1,626	1,613


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


Total Short-Term Instruments (Cost $3,887)			4,104

Total Investments in Securities (Cost $637,302)			581,774

	SHARES
INVESTMENTS IN AFFILIATES 7.0%
SHORT-TERM INSTRUMENTS 7.0%
CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 7.0%
PIMCO Short-Term Floating NAV Portfolio III	1,551,981		15,115

Total Short-Term Instruments (Cost $15,112)			15,115

Total Investments in Affiliates (Cost $15,112)			15,115

Total Investments 274.8% (Cost $652,414)		$	596,889
Financial Derivative Instruments (k)(m) (0.1)%(Cost or Premiums, net $7,645)			(110)
Other Assets and Liabilities, net (174.7)%			(379,553)

Net Assets 100.0%		$	217,226


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (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).
µ	All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.
~	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)	Security is an Interest Only ("IO") or IO Strip.
(b)	When-issued security.
(c)	Payment in-kind security.
(d)	Security is not accruing income as of the date of this report.
(e)	Security did not produce income within the last twelve months.
(f)	Coupon represents a weighted average yield to maturity.
(g)	Zero coupon security.
(h)	Perpetual maturity; date shown, if applicable, represents next contractual call date.
(i)	RESTRICTED SECURITIES:
Issuer Description				Acquisition Date					Cost						Market Value				Market Value as Percentage of Net Assets

AmSurg Corp.				11/02/2023 - 11/06/2023			$		8,047				$		8,694				4.00	%
Incora New Equity				01/31/2025					5,920						4,892				2.25
Incora Top Holdco LLC 6.000% due 01/30/2033				01/31/2025 - 08/01/2025					2,694						4,358				2.01
Intelsat SA				06/19/2017 - 08/29/2025					3,338						0				0.00
MNSN Holdings, Inc.				03/16/2023 - 03/17/2023					12						63				0.03
Steinhoff International Holdings NV				06/30/2023 - 10/30/2023					0						0				0.00
Syniverse Holdings, Inc. 12.500%				05/12/2022 - 05/30/2025					1,052						1,039				0.48
Westmoreland Mining Holdings				03/26/2019					0						0				0.00
Westmoreland Mining LLC				06/30/2023 - 02/03/2025					1						0				0.00

						$		21,064				$		19,046				8.77%

BORROWINGS AND OTHER FINANCING TRANSACTIONS
REVERSE REPURCHASE AGREEMENTS:
Counterparty		Borrowing Rate(1)	Settlement Date		Maturity Date						Amount Borrowed(1)						Payable for Reverse Repurchase Agreements

BPS		4.200%	09/19/2025		TBD(2)					$	(914)					$	(916)
		4.400	09/19/2025		10/01/2025						(188)						(189)
		4.400	09/19/2025		TBD(2)						(332)						(332)
		4.450	09/17/2025		12/17/2025					GBP	(2,437)						(3,283)
		4.910	08/13/2025		02/11/2026					$	(6,370)						(6,414)
		5.390	07/25/2025		01/22/2026						(2,542)						(2,569)
		5.830	07/22/2025		10/22/2025						(3,879)						(3,924)
BRC		4.590	09/22/2025		10/14/2025						(1,023)						(1,024)
		4.790	07/07/2025		10/06/2025						(1,854)						(1,875)
		5.360	09/25/2025		01/26/2026						(1,506)						(1,507)
BYR		4.350	09/19/2025		TBD(2)						(783)						(784)
		4.610	09/03/2025		11/03/2025						(8,423)						(8,454)
		4.660	07/10/2025		10/10/2025						(288)						(291)
		4.660	07/21/2025		10/21/2025						(2,046)						(2,066)
CIB		4.320	09/22/2025		10/14/2025						(6,270)						(6,277)
DBL		4.450	09/19/2025		TBD(2)						(340)						(340)
		4.710	09/19/2025		10/17/2025						(1,914)						(1,917)
		5.152	08/29/2025		10/31/2025						(1,861)						(1,869)
		5.202	08/29/2025		10/31/2025						(816)						(820)
		5.252	08/29/2025		10/31/2025						(1,591)						(1,598)
DEU		4.570	09/11/2025		12/11/2025						(2,577)						(2,584)


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


GSC							4.320					09/22/2025										10/14/2025												(5,865)														(5,872)
IND							4.430					09/17/2025										12/17/2025												(498)														(499)
							4.640					09/16/2025										12/16/2025												(751)														(752)
							4.640					09/22/2025										12/16/2025												(626)														(626)
							4.660					07/10/2025										10/08/2025												(4,404)														(4,452)
							4.760					07/10/2025										10/08/2025												(313)														(316)
							4.850					07/29/2025										12/29/2025												(1,438)														(1,451)
							4.970					07/11/2025										10/09/2025												(851)														(861)
JML							4.500					09/19/2025										10/31/2025												(2,107)														(2,110)
MSB							4.960					09/30/2025										03/30/2026												(1,277)														(1,277)
							5.210					08/19/2025										02/19/2026												(708)														(712)
RCY							4.810					07/07/2025										10/06/2025												(1,204)														(1,218)
RTA							5.310					09/30/2025										10/02/2025												(911)														(911)
SBI							4.360					09/22/2025										10/14/2025												(4,254)														(4,259)
SOG							4.320					09/19/2025										TBD(2)												(1,577)														(1,579)
							4.350					09/19/2025										TBD(2)												(2,277)														(2,281)
							4.400					09/19/2025										TBD(2)												(1,777)														(1,780)
							4.740					07/08/2025										10/08/2025												(953)														(963)
							4.740					08/18/2025										10/08/2025												(2,185)														(2,198)
							4.760					07/21/2025										10/21/2025												(1,284)														(1,296)
							4.860					07/08/2025										10/08/2025												(1,012)														(1,024)
TDM							4.250					09/19/2025										TBD(2)												(646)														(647)
							4.270					09/19/2025										TBD(2)												(399)														(400)
							4.400					09/19/2025										TBD(2)												(1,132)														(1,133)

Total Reverse Repurchase Agreements																																													$			(87,650)

SHORT SALES:
Description															Coupon					Maturity Date									Principal Amount							Proceeds									Payable for Short Sales

U.S. Government Agencies (2.9)%
Fannie Mae, TBA															2.000%					11/01/2055						$				1,950				$						(1,572)				$						(1,572)
Uniform Mortgage-Backed Security, TBA															2.000					10/01/2040										200										(185)										(184)
Uniform Mortgage-Backed Security, TBA															2.500					10/01/2055										600										(495)										(506)
Uniform Mortgage-Backed Security, TBA															4.000					11/01/2055										1,900										(1,794)										(1,790)
Uniform Mortgage-Backed Security, TBA															5.500					11/01/2055										1,900										(1,917)										(1,915)
Uniform Mortgage-Backed Security, TBA															6.000					11/01/2054										300										(307)										(306)

Total Short Sales (2.9)%																																		$						(6,270)				$						(6,273)

(j)	Securities with an aggregate market value of $100,543 and cash of $20 have been pledged as collateral under the terms of master agreements as of September 30, 2025.
(1)	The average amount of borrowings outstanding during the period ended September 30, 2025 was $(29,685) at a weighted average interest rate of 4.809%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.
(2)	Open maturity reverse repurchase agreement.
(k)	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

U.S. Treasury 10-Year Note December Futures						12/2025				18			$				2,025							$				17								$			0								$					0
SHORT FUTURES CONTRACTS
															Variation Margin
Description						Expiration Month				# of Contracts							Notional Amount											Unrealized Appreciation/ (Depreciation)											Asset													Liability

3-Month SOFR Active Contract December Futures						03/2026				5			$				(1,204)							$				19								$			0								$					(1)
3-Month SOFR Active Contract March Futures						06/2026				4							(965)											13											0													0
3-Month SOFR Active Contract September Futures						12/2025				4							(960)											19											0													0

																							$				51								$			0								$					(1)

Total Futures Contracts																$			68										$		0						$					(1)

SWAP AGREEMENTS:
CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION(1)
															Variation Margin
Reference Entity		Fixed (Pay) Rate	Payment Frequency	Maturity Date	Implied Credit Spread at September 30, 2025(3)						Notional Amount(4)							Premiums Paid/ (Received)							Unrealized Appreciation/ (Depreciation)								Market Value(5)										Asset										Liability

Boeing Co.		(1.000)%	Quarterly	06/20/2026	0.209			%	$		900			$				(2)			$				(4)							$	(6)								$		0						$				0


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


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, 2025(3)						Notional Amount(4)					Premiums Paid/ (Received)						Unrealized Appreciation/ (Depreciation)						Market Value(5)						Asset						Liability

AT&T, Inc.		1.000%	Quarterly		06/20/2028		0.402		%		$		500	$				(5)			$			13			$			8			$			0			$			0
Boeing Co.		1.000	Quarterly		12/20/2030		0.648						1,200					20						0						20						0						0
Oracle Corp.		1.000	Quarterly		06/20/2030		0.528						2,200					48						(2)						46						0						(2)

															$				63			$			11			$			74			$			0			$			(2)

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	1-Day GBP-SONIO Compounded-OIS			3.750%		Annual		09/17/2030		GBP		13,300					$			(69)			$			(8)			$			(77)			$			18			$			0
Receive	1-Day GBP-SONIO Compounded-OIS			0.750		Annual		09/21/2052				5,900								680						4,102						4,782						0						(24)
Receive	1-Day USD-SOFR Compounded-OIS			2.300		Annual		01/17/2026		$		700								0						14						14						0						0
Receive	1-Day USD-SOFR Compounded-OIS			1.350		Semi-Annual		01/20/2027				3,200								(1)						122						121						0						(1)
Receive	1-Day USD-SOFR Compounded-OIS			1.360		Semi-Annual		02/15/2027				2,130								0						78						78						0						(1)
Receive	1-Day USD-SOFR Compounded-OIS			1.450		Semi-Annual		02/17/2027				3,500								(1)						125						124						0						(1)
Receive	1-Day USD-SOFR Compounded-OIS			1.420		Semi-Annual		02/24/2027				1,000								0						35						35						0						0
Pay	1-Day USD-SOFR Compounded-OIS			1.650		Semi-Annual		02/24/2027				3,400								(9)						(100)						(109)						1						0
Pay	1-Day USD-SOFR Compounded-OIS			1.000		Annual		06/15/2027				11,200								(763)						200						(563)						3						0
Pay	1-Day USD-SOFR Compounded-OIS			1.750		Annual		06/15/2027				28,200								(1,308)						302						(1,006)						7						0
Receive	1-Day USD-SOFR Compounded-OIS			2.000		Annual		12/21/2027				47,200								3,512						(1,238)						2,274						0						(21)
Receive	1-Day USD-SOFR Compounded-OIS			1.420		Semi-Annual		08/17/2028				3,800								(1)						244						243						0						(2)
Receive	1-Day USD-SOFR Compounded-OIS			1.370		Semi-Annual		08/25/2028				11,363								(3)						743						740						0						(6)
Pay	1-Day USD-SOFR Compounded-OIS			1.500		Semi-Annual		12/15/2028				7,141								97						(538)						(441)						4						0
Receive	1-Day USD-SOFR Compounded-OIS			3.750		Annual		12/20/2028				59,000								1,147						(1,567)						(420)						0						(37)
Receive	1-Day USD-SOFR Compounded-OIS			1.500		Semi-Annual		01/12/2029				2,365								0						172						172						0						(1)
Pay	1-Day USD-SOFR Compounded-OIS			1.700		Semi-Annual		01/12/2029				8,600								(26)						(541)						(567)						5						0
Pay	1-Day USD-SOFR Compounded-OIS			1.000		Annual		06/15/2029				2,810								(113)						(144)						(257)						1						0
Pay	1-Day USD-SOFR Compounded-OIS			1.750		Annual		06/15/2029				73,390								(5,265)						622						(4,643)						39						0
Pay	1-Day USD-SOFR Compounded-OIS			3.000		Semi-Annual		06/19/2029				44,200								2,283						(2,948)						(665)						27						0
Receive	1-Day USD-SOFR Compounded-OIS			3.750		Annual		06/20/2029				13,500								(254)						90						(164)						0						(9)
Pay	1-Day USD-SOFR Compounded-OIS			1.500		Semi-Annual		12/18/2029				4,500								(46)						(318)						(364)						2						0
Pay	1-Day USD-SOFR Compounded-OIS			2.000		Annual		12/21/2029				13,700								(1,410)						419						(991)						7						0
Receive	1-Day USD-SOFR Compounded-OIS			3.000		Annual		06/21/2030				6,800								179						(41)						138						0						(3)
Receive	1-Day USD-SOFR Compounded-OIS			1.000		Semi-Annual		12/16/2030				4,805								21						585						606						0						(1)
Receive	1-Day USD-SOFR Compounded-OIS			3.500		Annual		12/20/2030				3,900								259						(250)						9						0						(2)
Receive	1-Day USD-SOFR Compounded-OIS			1.750		Semi-Annual		12/15/2031				12,200								(165)						1,469						1,304						0						(3)
Receive	1-Day USD-SOFR Compounded-OIS			1.250		Annual		06/15/2032				38,250								4,949						507						5,456						0						(5)
Receive	1-Day USD-SOFR Compounded-OIS			1.750		Annual		06/15/2032				46,980								1,980						3,232						5,212						0						(10)
Receive	1-Day USD-SOFR Compounded-OIS			3.750		Annual		09/17/2032				10								0						0						0						0						0
Receive	1-Day USD-SOFR Compounded-OIS			3.000		Annual		06/21/2033				8,305								320						11						331						0						(1)
Receive	1-Day USD-SOFR Compounded-OIS			3.500		Annual		12/20/2033				2,510								42						(13)						29						0						0


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


Receive		1-Day USD-SOFR Compounded-OIS		3.750	Annual		06/20/2034			1,300					(46)				33					(13)			0					0
Pay		1-Day USD-SOFR Compounded-OIS		3.750	Annual		06/20/2034			250					(7)				9					2			0					0
Receive		1-Day USD-SOFR Compounded-OIS		2.000	Semi-Annual		01/15/2050			4,400					(31)				1,611					1,580			10					0
Receive		1-Day USD-SOFR Compounded-OIS		1.750	Semi-Annual		01/22/2050			4,100					(10)				1,644					1,634			9					0
Receive		1-Day USD-SOFR Compounded-OIS		1.875	Semi-Annual		02/07/2050			1,400					(5)				534					529			3					0
Receive		1-Day USD-SOFR Compounded-OIS		1.250	Semi-Annual		12/16/2050			5,700					537				2,190					2,727			14					0
Receive		1-Day USD-SOFR Compounded-OIS		1.450	Semi-Annual		04/07/2051			3,500					(2)				1,591					1,589			7					0
Pay		1-Day USD-SOFR Compounded-OIS		1.650	Semi-Annual		04/08/2051			2,100					1				(885)					(884)			0					(4)
Pay		1-Day USD-SOFR Compounded-OIS		1.500	Annual		06/15/2052			2,800					(106)				(1,058)					(1,164)			0					(6)
Receive		1-Day USD-SOFR Compounded-OIS		1.750	Annual		06/15/2052			6,900					1,128				1,457					2,585			18					0
Receive		1-Year BRL-CDI		11.823	Maturity		01/04/2027		BRL	40,300					0				322					322			1					0
Pay		1-Year BRL-CDI		12.047	Maturity		01/04/2027			39,700					0				(276)					(276)			0					(1)
Pay(6)		6-Month EUR-EURIBOR		2.500	Annual		03/18/2031		EUR	2,710					12				(4)					8			5					0
Receive		6-Month EUR-EURIBOR		0.500	Annual		09/21/2052			3,500					303				1,573					1,876			0					(17)
Receive(6)		6-Month EUR-EURIBOR		0.830	Annual		12/09/2052			3,700					23				458					481			0					(3)
Pay		CAONREPO		3.500	Semi-Annual		06/19/2034		CAD	2,000					69				13					82			5					0
Receive		CAONREPO		3.500	Semi-Annual		06/20/2044			1,300					14				(54)					(40)			0					(2)

											$			7,915			$	14,524			$		22,439		$	186				$	(161)

Total Swap Agreements											$			7,976			$	14,531			$		22,507		$	186				$	(163)

(l)	Securities with an aggregate market value of $713 and cash of $5,710 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.
(1)	If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2)	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(3)	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.
(4)	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(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.
(m)	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

AZD			10/2025			EUR		26,054					$			30,388				$		0						$	(201)
			10/2025			$		73					CAD			101						0							0
			11/2025			CAD		101					$			73						0							0
BOA			11/2025			DOP		18,471								289						0							(5)
BPS			10/2025			TRY		440								10						0							0
			10/2025			$		198					EUR			168						0							(1)
BRC			10/2025			TRY		13,434					$			323						0							0
			10/2025			$		1,551					TRY			66,000						35							0
			11/2025					1,170								50,906						12							0
			12/2025					648								28,509						1							0
CBK			10/2025					641					EUR			545						1							(2)
FAR			12/2025			MXN		3,075					$			162						0							(4)
GLM			11/2025			DOP		5,189								81						0							(2)
			02/2026					16,545								257						1							(3)
			03/2026					41,348								653						6							0
JPM			10/2025			BRL		562								106						0							0
			10/2025			CAD		101								73						1							0
			10/2025			$		103					BRL			562						2							0
MBC			10/2025			EUR		3,058					$			3,621						31							0
			10/2025			GBP		166								223						0							(1)


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


				10/2025		$		373						EUR		318													1										(1)
NGF				12/2025				84						TRY		3,705													0										0
SCX				10/2025				8,424						GBP		6,298													46										0
				11/2025		GBP		6,298						$		8,426													0										(46)
SOG				10/2025		BRL		564								106													0										0
				10/2025		$		106						BRL		564													0										0
				10/2025				33,024						EUR		28,081													0										(55)
				11/2025		EUR		28,081						$		33,090													55										0
				12/2025		$		106						BRL		572													0										0
SSB				10/2025		GBP		6,132						$		8,265													18										0

Total Forward Foreign Currency Contracts													$				210									$				(321)

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, 2025(2)										Notional Amount(3)			Premiums Paid/(Received)							Unrealized Appreciation/ (Depreciation)						Asset			Liability

BOA			Panama Government International Bonds		1.000%		Quarterly		12/20/2028			0.917%							$			1,500		$	(62)						$	66				$		4		$	0
BPS			Romania Government International Bonds		1.000		Quarterly		12/20/2025			0.593										500			1							0						1			0
BRC			Egypt Government International Bonds		1.000		Quarterly		12/20/2028			3.236										700			(121)							76						0			(45)
			Egypt Government International Bonds		1.000		Quarterly		06/20/2029			3.441										400			(86)							54						0			(32)
			Panama Government International Bonds		1.000		Quarterly		12/20/2028			0.917										1,600			(66)							71						5			0
CBK			Israel Government International Bonds		1.000		Quarterly		06/20/2027			0.410										1,100			(6)							17						11			0
			Israel Government International Bonds		1.000		Quarterly		06/20/2030			0.745										100			(1)							2						1			0
GST			Equinix, Inc.		5.000		Quarterly		06/20/2027			0.638										500			70							(33)						37			0
			Soft Bank Group,Inc.		1.000		Quarterly		06/20/2026			0.872										2,400			(20)							23						3			0
JPM			Israel Government International Bonds		1.000		Quarterly		06/20/2030			0.745										100			(1)							2						1			0
MYC			Petroleos Mexicanos		1.000		Quarterly		12/20/2028			2.159										200			(39)							32						0			(7)

Total Swap Agreements													$		(331)					$			310				$	63					$		(84)

(n)		Securities with an aggregate market value of $363 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.
(1)		If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(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 Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(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, 2025 in valuing the Fund's assets and liabilities:

Category and Subcategory										Level 1								Level 2							Level 3									Fair Value at 09/30/2025

Investments in Securities, at Value
Loan Participations and Assignments										$	0							$			28,619				$			10,734						$			39,353
Corporate Bonds & Notes
	Banking & Finance										0										26,243							0									26,243
	Industrials										0										45,810							14,054									59,864
	Utilities										0										10,905							0									10,905
Convertible Bonds & Notes
	Banking & Finance										0										83							0									83
Municipal Bonds & Notes
	California										0										893							0									893
	Illinois										0										12							0									12
	Michigan										0										2,350							0									2,350
	West Virginia										0										2,365							0									2,365
U.S. Government Agencies											0										340,705							0									340,705
Non-Agency Mortgage-Backed Securities											0										44,872							0									44,872
Asset-Backed Securities


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


		Home Equity Other												0								3,299					0					3,299
		Manufacturing House Sequential												0								300					0					300
		Other ABS												0								2,954					3,532					6,486
Sovereign Issues														0								16,614					0					16,614
Common Stocks
		Communication Services												983								0					1,310					2,293
		Financials												66								2,864					189					3,119
		Health Care												0								0					8,694					8,694
		Industrials												0								0					4,892					4,892
Warrants
		Financials												0								0					37					37
Preferred Securities
		Banking & Finance												0								1,291					215					1,506
		Industrials												0								656					1,039					1,695
Real Estate Investment Trusts
		Real Estate												1,090								0					0					1,090
Short-Term Instruments
		Nigeria Treasury Bills												0								2,491					0					2,491
		U.S. Treasury Bills												0								1,613					0					1,613

												$		2,139						$		534,939				$	44,696			$		581,774
Investments in Affiliates, at Value
Short-Term Instruments
		Central Funds Used for Cash Management Purposes										$		15,115						$		0				$	0			$		15,115

Total Investments												$		17,254						$		534,939				$	44,696			$		596,889

Short Sales, at Value - Liabilities
U.S. Government Agencies												$		0						$		(6,273)				$	0			$		(6,273)

Financial Derivative Instruments - Assets
Exchange-traded or centrally cleared														0								186					0					186
Over the counter														0								273					0					273

												$		0						$		459				$	0			$		459
Financial Derivative Instruments - Liabilities
Exchange-traded or centrally cleared														0								(164)					0					(164)
Over the counter														0								(405)					0					(405)

												$		0						$		(569)				$	0			$		(569)

Total Financial Derivative Instruments												$		0						$		(110)				$	0			$		(110)

Totals												$		17,254						$		528,556				$	44,696			$		590,506




The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:
Category and Subcategory			Beginning Balance at 06/30/2025			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 09/30/2025			Net Change in Unrealized Appreciation/ (Depreciation) on Investments Held at 09/30/2025 (1)

Investments in Securities, at Value
Loan Participations and Assignments			$	5,655		$	66	$	(1,193)	$			5		$		0	$			(410)		$		6,611			$	0		$		10,734	$	(409)
Corporate Bonds & Notes
	Industrials				8,899		4,509		0				13				0				633				0				0				14,054		633
Asset-Backed Securities
	Other ABS				3,605		0		0				0				0				(73)				0				0				3,532		(73)
Common Stocks
	Communication Services				632		0		(496)				0				366				808				0				0				1,310		1,228
	Financials				3,416		205		(3,436)				0				0				67				0				(63)				189		(3,427)
	Health Care				8,694		0		0				0				0				0				0				0				8,694		0
	Industrials				4,118		0		0				0				0				774				0				0				4,892		774
Warrants
	Communication Services				109		0		(99)				0				26				(36)				0				0				0		0
	Financials				2		40		(8)				0				(2,654)				2,657				0				0				37		(3)
Preferred Securities
	Banking & Finance				0		215		0				0				0				0				0				0				215		0
	Industrials				1,009		0		0				0				0				30				0				0				1,039		30


Schedule of Investments PIMCO Strategic Income Fund, Inc. (Cont.)	September 30, 2025 (Unaudited)


Totals			$	36,139	$		5,035		$			(5,232)	$	18	$	(2,262)	$		4,450	$	6,611	$	(63)			$	44,696	$		(1,247)

The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:
															(% Unless Noted Otherwise)

Category and Subcategory						Ending Balance at 09/30/2025				Valuation Technique								Unobservable Inputs							Input Value(s)				Weighted Average

Investments in Securities, at Value
Loan Participations and Assignments						$		3,851			Comparable Companies							EBITDA Multiple						X	16.290				—
								272			Discounted Cash Flow							Discount Rate							6.230 - 50.000				14.508
								6,611			Third Party Vendor							Broker Quote							40.500 - 98.500				98.318
Corporate Bonds & Notes
	Industrials							8,106			Comparable Companies / Discounted Cash Flow							Revenue Multiple/Discount Rate						X/ %	0.970/10.000				—
								1,638			Indicative Market Quotation							Broker Quote							62.500 - 71.000				67.107
								4,310			Recent Transaction							Purchase Price							100.000				—
Asset-Backed Securities
	Other ABS							3,532			Discounted Cash Flow							Discount Rate							9.640 -13.000				10.771
Common Stocks
	Communication Services							1,177			Discounted Cash Flow							Discount Rate							7.930				—
								133			Reference Instrument							Stock Price w/Liquidity Discount							12.000				—
	Financials							189			Reference Instrument							Stock Price w/ Liquidity Discount							8.150				—
	Health Care							8,694			Comparable Companies							EBITDA Multiple						X	16.290				—
	Industrials							4,892			Comparable Companies / Discounted Cash Flow							Revenue Multiple/Discount Rate						X/ %	0.970/10.000				—
Warrants
	Financials							37			Option Pricing Model							Volatility							62.500				—
Preferred Securities
	Banking & Finance							215			Recent Transaction							Purchase Price						$	1,000.000				—
	Industrials							1,039			Discounted Cash Flow							Discount Rate							13.622				—

Total						$		44,696

(1)		Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end.

Notes to Financial Statements

1. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS

(a) Investment Valuation Policies The 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 do not normally take into account trading, clearances or settlements that take place after the NYSE Close. A foreign (non-U.S.) equity security traded on a foreign exchange or on more than one exchange is typically valued using pricing information from the exchange considered by Pacific Investment Management Company LLC (“PIMCO”) to be the primary exchange. If market value pricing is used, a foreign (non-U.S.) equity security will be valued as of the close of trading on the foreign exchange, or the NYSE Close if the NYSE Close occurs before the end of trading on the foreign exchange.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act. As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board of Trustees has designated PIMCO as the valuation designee (“Valuation Designee”) for 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”).

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

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

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

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.

Notes to Financial Statements (Cont.)

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

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

Assets or liabilities categorized as Level 2 or 3 as of period end have been transferred between Levels 2 and 3 since the prior period due to changes in the method utilized in valuing the investments. Transfers from Level 2 to Level 3 are a result of a change, in the normal course of business, from the use of methods used by Pricing Sources (Level 2) to the use of a Broker Quote or valuation technique which utilizes significant unobservable inputs due to an absence of current or reliable market-based data (Level 3). In accordance with the requirements of U.S. GAAP, the amounts of transfers into and out of Level 3, if material, are disclosed in the Notes to Schedule of Investments for the Fund.

For fair valuations using significant unobservable inputs, U.S. GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to realized gain (loss), unrealized appreciation (depreciation), purchases and sales, accrued discounts (premiums), and transfers into and out of the Level 3 category during the period. The end of period value is used for the transfers between fair value Levels 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.

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

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

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

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

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

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

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

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

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

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

Notes to Financial Statements (Cont.)

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

Reference instrument valuation estimates fair value by utilizing the correlation of the security to one or more broad-based securities, market indexes and/or other financial instruments, whose pricing information is readily available. Unobservable inputs may include those used in algorithms based on percentage change in the reference instruments and/or weights of each reference instrument. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 2 or Level 3 of the fair value hierarchy depending on the source or input of the reference instrument.

Expected recovery valuation estimates that the fair value of an existing asset can be recovered, net of any liability. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

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

The Comparable Companies model is based on application of valuation multiples from publicly traded comparable companies to the financials of the subject company. Adjustments may be made to the market-derived valuation multiples based on differences between the comparable companies and the subject company. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

The Option Pricing Model is a commonly accepted method of allocating enterprise value across a capital structure. The method may be utilized when a capital structure includes multiple instruments with varying rights and preferences, there is no short term exit horizon, the nature of an exit event is unknown, or if the enterprise value is not sufficient to cover outstanding debt and preferred claims. The Option Pricing Model can also be used as a method to estimate enterprise value by ‘back-solving’ if there are recent indicative transactions for securities with the same issuer. The Option Pricing Model uses Black-Scholes option pricing, a generally accepted option model typically used to value call options, puts, warrants and convertible preferred securities. Significant changes in unobservable inputs would result in direct changes in the fair value of the security. These securities are categorized as level 3 of the fair value hierarchy.

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

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

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

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 taxable 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, 2025, 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.

3. INVESTMENTS IN AFFILIATES

The Fund 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, rules thereunder or exemptive relief therefrom. 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 Fund. 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 Fund’s website at www.pimco.com, or upon request, as applicable. The table below shows the Fund's transactions in and earnings from investments in the affiliated funds for the period ended September 30, 2025 (amounts in thousands†):

Investment in PIMCO Short-Term Floating NAV Portfolio III

Notes to Financial Statements (Cont.)


	Market Value 06/30/2025		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Market Value 09/30/2025		Dividend Income(1)		Realized Net Capital Gain Distributions(1)
$	7,682	$	46,930	$	(39,500)	$	2	$	1	$	15,115	$	129	$	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:
AZD	Australia and New Zealand Banking Group	FAR	Wells Fargo Bank National Association	MYC	Morgan Stanley Capital Services LLC
BOA	Bank of America N.A.	GLM	Goldman Sachs Bank USA	NGF	Nomura Global Financial Products, Inc.
BPS	BNP Paribas S.A.	GSC	Goldman Sachs & Co. LLC	RCY	Royal Bank of Canada
BRC	Barclays Bank PLC	GST	Goldman Sachs International	RTA	RBC (Barbados) Trading Bank Corp.
BYR	The Bank of Nova Scotia - Toronto	IND	Crédit Agricole Corporate and Investment Bank S.A.	SBI	Citigroup Global Markets Ltd.
CBK	Citibank N.A.	JML	JP Morgan Securities Plc	SCX	Standard Chartered Bank, London
CIB	Canadian Imperial Bank of Commerce	JPM	JP Morgan Chase Bank N.A.	SOG	Societe Generale Paris
DBL	Deutsche Bank AG London	MBC	HSBC Bank Plc	SSB	State Street Bank and Trust Co.
DEU	Deutsche Bank Securities, Inc.	MSB	Morgan Stanley Bank, N.A	TDM	TD Securities (USA) LLC

Currency Abbreviations:
BRL	Brazilian Real	EUR	Euro	NGN	Nigerian Naira
CAD	Canadian Dollar	GBP	British Pound	TRY	Turkish New Lira
DOP	Dominican Peso	MXN	Mexican Peso	USD (or $)	United States Dollar

Index/Spread Abbreviations:
BISTREFI	Turkish Lira Overnight Reference Rate	EUR006M	6 Month EUR Swap Rate	TSFR1M	Term SOFR 1-Month
CAONREPO	Canadian Overnight Repo Rate Average	SOFR	Secured Overnight Financing Rate	TSFR3M	Term SOFR 3-Month
EUR003M	3 Month EUR Swap Rate	SONIO	Sterling Overnight Interbank Average Rate

Municipal Bond or Agency Abbreviations:
ACA	American Capital Access Holding Ltd.

Other Abbreviations:
ABS	Asset-Backed Security	DAC	Designated Activity Company	REMIC	Real Estate Mortgage Investment Conduit
ALT	Alternate Loan Trust	EBITDA	Earnings before Interest, Taxes, Depreciation and Amoritization	TBA	To-Be-Announced
BABs	Build America Bonds	EURIBOR	Euro Interbank Offered Rate	TBD	To-Be-Determined
BRL-CDI	Brazil Interbank Deposit Rate	OIS	Overnight Index Swap	TBD%	Interest rate to be determined when loan settles or at the time of funding
CLO	Collateralized Loan Obligation	PIK	Payment-in-Kind