0001170300-23-000056.txt : 20231128 0001170300-23-000056.hdr.sgml : 20231128 20231128160037 ACCESSION NUMBER: 0001170300-23-000056 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230930 FILED AS OF DATE: 20231128 DATE AS OF CHANGE: 20231128 PERIOD START: 20231231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PIMCO CALIFORNIA MUNICIPAL INCOME FUND II CENTRAL INDEX KEY: 0001170300 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21077 FILM NUMBER: 231446275 BUSINESS ADDRESS: STREET 1: 1633 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-739-4000 MAIL ADDRESS: STREET 1: 1633 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10019 NPORT-P 1 primary_doc.xml NPORT-P false 0001170300 XXXXXXXX PIMCO California Municipal Income Fund II 811-21077 0001170300 1R86W760D611I8RHLX24 1633 Broadway New York 10019 (844) 337-4626 N/A N/A 2023-12-31 2023-09-30 N 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0.8009580 Long DBT MUN US N 2 2044-08-01 Fixed 4 N N N N N N SAN MATEO JOINT POWERS FINANCING AUTHORITY N/A SAN MATEO CNTY CA JT PWRS FING SMTGEN 07/52 FIXED OID 4 79904NGQ7 1800000.000000 PA USD 1643389.560000 0.8580588 Long DBT MUN US N 2 2052-07-15 Fixed 4 N N N N N N SANTA ANA UNIFIED SCHOOL DISTRICT N/A SANTA ANA CA UNIF SCH DIST SAASCD 08/48 FIXED 4 801155YG1 1750000.000000 PA USD 1581249.250000 0.8256136 Long DBT MUN US N 2 2048-08-01 Fixed 4 N N N N N N SANTA CLARITA COMMUNITY COLLEGE DISTRICT N/A SANTA CLARITA CA CMNTY CLG DIS SCTHGR 08/46 FIXED 4 801686PW0 2200000.000000 PA USD 2009625.420000 1.0492806 Long DBT MUN US N 2 2046-08-01 Fixed 4 N N N N N N SANTA MONICA COMMUNITY COLLEGE DISTRICT N/A SANTA MONICA CA CMNTY CLG DIST SMCHGR 08/45 FIXED 4 802385SH8 1270000.000000 PA USD 1190070.520000 0.6213685 Long DBT MUN US N 2 2045-08-01 Fixed 4 N N N N N N SILICON VALLEY TOBACCO SECURITIZATION AUTHORITY N/A SILICON VLY CA TOBACCO SECURIT SILGEN 06/36 ZEROCPNOID 0 82706TAA9 1000000.000000 PA USD 467874.500000 0.2442901 Long DBT MUN US N 2 2036-06-01 None 0 N N N N N N SOUTHWESTERN COMMUNITY COLLEGE DISTRICT N/A S WSTRN CA CMNTY CLG DIST SWSHGR 08/46 FIXED 4 845389PV1 4850000.000000 PA USD 4498017.070000 2.3485381 Long DBT MUN US N 2 2046-08-01 Fixed 4 N N N N N N STATE CENTER COMMUNITY COLLEGE DISTRICT N/A ST CENTER CA CMNTY CLG DIST STCHGR 08/47 FIXED 5 856597JU4 1815000.000000 PA USD 1899533.810000 0.9917987 Long DBT MUN US N 2 2047-08-01 Fixed 5 N N N N N N SWEETWATER UNION HIGH SCHOOL DISTRICT N/A SWEETWATER CA UNION HIGH SCH D SWESCD 08/52 FIXED 5 870462UG1 2190000.000000 PA USD 2240853.330000 1.1700110 Long DBT MUN US N 2 2052-08-01 Fixed 5 N N N N N N TOB SECURITIZATION AUTH NORTHNCALIF N/A TOBACCO SECURITIZATION AUTH NT TOBGEN 06/60 ZEROCPNOID 0 888794CA0 19480000.000000 PA USD 2508346.100000 1.3096763 Long DBT MUN US N 2 2060-06-01 None 0 N N N N N N TOBACCO SECURITIZATION AUTH SOUTHN CAL T N/A TOBACCO SECURITIZATION AUTH ST TOBGEN 06/46 ZEROCPNOID 0 888804AZ4 1000000.000000 PA USD 180476.600000 0.0942318 Long DBT MUN US N 2 2046-06-01 None 0 N N N N N N TOBACCO SECURITIZATION AUTH SOUTHN CAL T N/A TOBACCO SECURITIZATION AUTH ST TOBGEN 06/46 ZEROCPNOID 0 888804BA8 2000000.000000 PA USD 334344.200000 0.1745703 Long DBT MUN US N 2 2046-06-01 None 0 N N N N N N TOBACCO SECURITIZATION AUTH SOUTHN CAL T N/A TOBACCO SECURITIZATION AUTH ST TOBGEN 06/46 ZEROCPNOID 0 888804BB6 2000000.000000 PA USD 277759.600000 0.1450259 Long DBT MUN US N 2 2046-06-01 None 0 N N N N N N ANGELINA & NECHES RIVER AUTHORITY N/A ANGELINA NECHES RIVER AUTH I ANGDEV 12/45 FIXED 12 03469KAG8 850000.000000 PA USD 709644.350000 0.3705248 Long DBT MUN US N 2 2045-12-01 Fixed 12 N N N N N N ANGELINA & NECHES RIVER AUTHORITY N/A ANGELINA NECHES RIVER AUTH I ANGDEV 12/45 FIXED 7.5 03469KAB9 500000.000000 PA USD 316108.100000 0.1650487 Long DBT MUN US N 2 2045-12-01 Fixed 7.5 N N N N N N ANTELOPE VALLEY COMMUNITY COLLEGE DISTRICT N/A ANTELOPE VLY CA CMNTY CLG DIST ANVHGR 08/47 ZEROCPNOID 0 03667PJW3 720000.000000 PA USD 199563.770000 0.1041977 Long DBT MUN US N 2 2047-08-01 None 0 N N N N N N UNIVERSITY OF CALIFORNIA N/A UNIV OF CALIFORNIA CA REVENUES UNVHGR 05/49 FIXED 5 91412HET6 2000000.000000 PA USD 2058796.000000 1.0749539 Long DBT MUN US N 2 2049-05-15 Fixed 5 N N N N N N VAL VERDE UNIFIED SCHOOL DISTRICT N/A VAL VERDE CA UNIF SCH DIST VVDSCD 08/46 FIXED 4 91882RJR4 800000.000000 PA USD 724979.200000 0.3785315 Long DBT MUN US N 2 2046-08-01 Fixed 4 N N N N N N VIRGINIA SMALL BUSINESS FING AUTH HOSP R N/A VIRGINIA ST SMALL BUSINESS FIN VASHGR 07/44 FIXED OID 5.5 92810PAW1 500000.000000 PA USD 438278.550000 0.2288373 Long DBT MUN US N 2 2044-07-01 Fixed 5.5 N N N N N N VIRGINIA SMALL BUSINESS FING AUTH HOSP R N/A VIRGINIA ST SMALL BUSINESS FIN VASHGR 07/61 ZEROCPNOID 0 92810PAY7 19000000.000000 PA USD 380000.000000 0.1984084 Long DBT MUN US N 2 2061-07-01 None 0 N N N N N N WASHINGTON TOWNSHIP HEALTHCARE DISTRICT N/A WASHINGTON TWP CA HLTH CARE DI WASMED 08/45 FIXED 4 940642DH1 3000000.000000 PA USD 2487849.600000 1.2989745 Long DBT MUN US N 2 2045-08-01 Fixed 4 N N N N N N N/A N/A FIXED INC CLEARING CORP.REPO 000000000 994000.000000 PA USD 994000.000000 0.5189947 Long RA US N 2 Repurchase N 2.6000000 2023-10-02 1113500.000000 USD 1013929.840000 USD UST N N N ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY N/A ARIZONA ST INDL DEV AUTH ECON AZSDEV 07/50 FIXED OID 7.75 040523AF9 940000.000000 PA USD 56400.000000 0.0294480 Long DBT MUN US N 2 2050-07-01 Fixed 7.75 Y Y N N N N 2023-11-14 PIMCO California Municipal Income Fund II /s/ Bijal Parikh Bijal Parikh Treasurer XXXX NPORT-EX 2 camunicipalincomefundii.htm PIMCO CALIFORNIA MUNICIPAL INCOME FUND II camunicipalincomefundii

Schedule of Investments PIMCO California Municipal Income Fund II

September 30, 2023

(Unaudited)

 

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

 

 

PRINCIPAL
AMOUNT
(000s)

 

MARKET
VALUE
(000s)

INVESTMENTS IN SECURITIES 186.1% ¤

 

 

 

 

MUNICIPAL BONDS & NOTES 185.6%

 

 

 

 

ARIZONA 0.0%

 

 

 

 

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

$

940

$

56

CALIFORNIA 167.5%

 

 

 

 

Alameda Corridor Transportation Authority, California Revenue Bonds, Series 2022
0.000% due 10/01/2049 (d)

 

3,085

 

1,478

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

 

720

 

200

Bay Area Toll Authority, California Revenue Bonds, Series 2014
5.000% due 10/01/2054

 

3,000

 

3,042

Bay Area Toll Authority, California Revenue Bonds, Series 2017

 

 

 

 

4.000% due 04/01/2047

 

3,000

 

2,730

5.000% due 04/01/2056

 

2,000

 

2,110

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

 

1,800

 

1,662

California Community Housing Agency Revenue Bonds, Series 2019

 

 

 

 

5.000% due 04/01/2049

 

4,400

 

3,504

5.000% due 08/01/2049

 

1,000

 

876

California Community Housing Agency Revenue Bonds, Series 2021
4.000% due 02/01/2056

 

1,000

 

692

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

 

1,000

 

766

California County Tobacco Securitization Agency Revenue Bonds, Series 2002

 

 

 

 

5.875% due 06/01/2043

 

885

 

880

6.125% due 06/01/2038

 

1,000

 

1,000

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

 

9,000

 

1,282

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

 

5,100

 

756

California Educational Facilities Authority Revenue Bonds, Series 2017
5.000% due 04/01/2047

 

835

 

836

California Educational Facilities Authority Revenue Bonds, Series 2018

 

 

 

 

5.000% due 10/01/2043

 

1,300

 

1,320

5.000% due 10/01/2048

 

1,320

 

1,326

California Enterprise Development Authority Revenue Bonds, Series 2020
5.000% due 08/01/2050

 

750

 

738

California Health Facilities Financing Authority Revenue Bonds, (CM Insured), Series 2020
4.000% due 11/01/2040

 

1,285

 

1,190

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

 

5,000

 

5,014

California Health Facilities Financing Authority Revenue Bonds, Series 2016

 

 

 

 

5.000% due 11/15/2046

 

410

 

428

5.000% due 08/15/2055

 

6,275

 

6,199

California Health Facilities Financing Authority Revenue Bonds, Series 2017
4.000% due 11/01/2038

 

1,500

 

1,456

California Health Facilities Financing Authority Revenue Bonds, Series 2020
4.000% due 06/01/2050

 

4,250

 

3,454

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

 

1,200

 

1,078

California Infrastructure & Economic Development Bank Revenue Bonds, Series 2020

 

 

 

 

0.000% due 01/01/2060 (c)

 

6,250

 

323

3.650% due 01/01/2050

 

2,410

 

2,395

4.000% due 11/01/2045

 

850

 

720

8.000% due 01/01/2050

 

1,900

 

1,898

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

 

1,800

 

1,858

California Municipal Finance Authority Revenue Bonds, (BAM Insured), Series 2021
4.000% due 05/15/2041

 

500

 

441

California Municipal Finance Authority Revenue Bonds, Series 2017
5.000% due 01/01/2042

 

1,750

 

1,690

California Municipal Finance Authority Revenue Bonds, Series 2018

 

 

 

 

5.000% due 05/15/2043

 

1,000

 

1,000

5.000% due 06/01/2043

 

1,465

 

1,506

California Municipal Finance Authority Revenue Bonds, Series 2021

 

 

 

 

4.000% due 11/01/2036

 

840

 

734

4.000% due 09/01/2050 (f)

 

1,500

 

1,154

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

 

1,650

 

1,706

California State General Obligation Bonds, Series 2013
5.000% due 11/01/2043

 

7,000

 

7,014

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

September 30, 2023

(Unaudited)

 

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

 

3,250

 

2,974

California State General Obligation Bonds, Series 2018

 

 

 

 

4.000% due 10/01/2039

 

4,500

 

4,335

5.000% due 10/01/2047

 

2,000

 

2,031

California State General Obligation Bonds, Series 2020

 

 

 

 

4.000% due 03/01/2040

 

3,350

 

3,247

4.000% due 11/01/2040

 

1,500

 

1,453

4.000% due 03/01/2046

 

1,000

 

935

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

 

2,000

 

1,915

California State General Obligation Notes, Series 2021
5.000% due 10/01/2029

 

3,000

 

3,241

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

 

5,000

 

5,047

California State University Revenue Bonds, Series 2023
5.000% due 11/01/2044

 

1,000

 

1,063

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

 

1,100

 

1,152

California Statewide Communities Development Authority Revenue Bonds, (CM Insured), Series 2018
4.000% due 07/01/2043

 

1,350

 

1,242

California Statewide Communities Development Authority Revenue Bonds, (CM Insured), Series 2021
4.000% due 11/01/2051

 

900

 

793

California Statewide Communities Development Authority Revenue Bonds, Series 2016

 

 

 

 

4.000% due 08/15/2051

 

225

 

187

5.000% due 06/01/2046

 

2,000

 

1,770

5.000% due 12/01/2046

 

2,000

 

1,826

5.250% due 12/01/2056

 

3,550

 

3,256

California Statewide Communities Development Authority Revenue Bonds, Series 2018

 

 

 

 

4.000% due 07/01/2048

 

1,000

 

873

4.000% due 12/01/2053

 

230

 

190

4.000% due 12/01/2057

 

2,000

 

1,617

5.000% due 03/01/2048

 

2,800

 

2,704

5.500% due 12/01/2058

 

2,200

 

2,093

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

 

2,000

 

1,635

California Statewide Financing Authority Revenue Bonds, Series 2002
6.000% due 05/01/2037

 

1,600

 

1,625

Calistoga Joint Unified School District, California General Obligation Bonds, Series 2023
5.000% due 08/01/2052

 

1,565

 

1,638

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

 

 

 

 

0.000% due 08/01/2037 (c)

 

1,000

 

533

0.000% due 08/01/2040 (c)

 

1,400

 

620

0.000% due 08/01/2043 (c)

 

1,750

 

649

0.000% due 08/01/2044 (c)

 

1,405

 

491

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

 

3,000

 

2,680

CMFA Special Finance Agency VII, California Revenue Bonds, Series 2021

 

 

 

 

3.000% due 08/01/2056

 

1,000

 

627

4.000% due 08/01/2047

 

595

 

457

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

 

750

 

570

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

 

1,790

 

1,623

CSCDA Community Improvement Authority, California Revenue Bonds, Series 2021

 

 

 

 

3.000% due 02/01/2057

 

500

 

309

3.100% due 07/01/2045

 

1,000

 

712

3.400% due 10/01/2046

 

445

 

324

4.000% due 08/01/2056

 

250

 

176

4.000% due 10/01/2056

 

550

 

372

CSCDA Community Improvement Authority, California Revenue Bonds, Series 2022
0.000% due 09/01/2062 (d)

 

2,200

 

976

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

 

360

 

361

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

 

1,635

 

1,675

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

 

1,670

 

1,548

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

 

1,415

 

1,291

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

 

920

 

781

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

 

1,400

 

1,364

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

 

2,605

 

2,368

Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2018

 

 

 

 

5.000% due 06/01/2030

 

1,500

 

1,604

5.000% due 06/01/2034

 

4,500

 

4,811

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

 

20,000

 

1,738

Hacienda La Puente Unified School District, California General Obligation Bonds, Series 2017
4.000% due 08/01/2047

 

3,000

 

2,730

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

 

3,500

 

3,263

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

September 30, 2023

(Unaudited)

 

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

 

2,650

 

2,111

Hayward Unified School District, California General Obligation Bonds, Series 2015
5.000% due 08/01/2038

 

3,000

 

3,032

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

 

2,000

 

1,811

Long Beach Bond Finance Authority, California Revenue Bonds, Series 2007

 

 

 

 

5.500% due 11/15/2030

 

460

 

478

5.500% due 11/15/2037

 

7,500

 

7,810

Long Beach Community College District, California General Obligation Bonds, Series 2019
4.000% due 08/01/2045

 

550

 

508

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

 

2,500

 

2,240

Los Angeles County, California Metropolitan Transportation Authority Sales Tax Revenue Bonds, Series 2021
4.000% due 06/01/2037

 

2,000

 

2,005

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

 

2,000

 

1,836

Los Angeles Department of Airports, California Revenue Bonds, Series 2020
4.000% due 05/15/2048

 

2,575

 

2,369

Los Angeles Department of Airports, California Revenue Bonds, Series 2021
5.000% due 05/15/2048

 

2,500

 

2,601

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

 

1,475

 

1,536

Los Angeles Department of Water & Power, California Revenue Bonds, Series 2014
5.000% due 07/01/2043

 

3,000

 

3,000

Los Angeles Department of Water & Power, California Revenue Bonds, Series 2018
5.000% due 07/01/2043

 

2,000

 

2,066

Los Angeles Department of Water & Power, California Revenue Bonds, Series 2021
5.000% due 07/01/2041

 

3,900

 

4,150

Los Angeles, California Wastewater System Revenue Bonds, Series 2017
5.000% due 06/01/2039

 

1,000

 

1,035

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

 

 

 

 

6.500% due 11/01/2039

 

7,810

 

8,843

7.000% due 11/01/2034

 

1,000

 

1,171

Mount San Antonio Community College District, California General Obligation Bonds, Series 2019
5.000% due 08/01/2044

 

1,850

 

1,926

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

 

2,200

 

2,055

Municipal Improvement Corp. of Los Angeles, California Revenue Bonds, Series 2021
5.000% due 11/01/2038

 

2,200

 

2,340

Newport Mesa Unified School District, California General Obligation Bonds, (NPFGC Insured), Series 2007
0.000% due 08/01/2031 (c)

 

1,900

 

1,399

Northern California Energy Authority Revenue Bonds, Series 2018
4.000% due 07/01/2049

 

2,500

 

2,493

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

 

500

 

444

Orange County, California Community Facilities District Special Tax Bonds, Series 2022
5.000% due 08/15/2052

 

1,360

 

1,283

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

 

2,000

 

1,808

Poway Unified School District, California General Obligation Bonds, Series 2011

 

 

 

 

0.000% due 08/01/2040 (c)

 

11,000

 

4,845

0.000% due 08/01/2046 (c)

 

16,000

 

4,779

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

 

1,460

 

1,316

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

 

1,850

 

581

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

 

1,100

 

1,043

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

 

3,500

 

3,401

Riverside, California Water Revenue Bonds, Series 2019
5.000% due 10/01/2048

 

3,540

 

3,654

Sacramento Area Flood Control Agency, California Special Assessment Bonds, Series 2016

 

 

 

 

5.000% due 10/01/2041 (e)

 

2,800

 

2,869

5.000% due 10/01/2047 (e)

 

1,700

 

1,730

Sacramento County, California Sanitation Districts Financing Authority Revenue Bonds, Series 2020
5.000% due 12/01/2050

 

1,200

 

1,245

Sacramento County, California Special Tax Bonds, Series 2022
5.000% due 09/01/2047

 

500

 

448

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

 

500

 

529

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

 

 

 

 

4.000% due 07/01/2051

 

1,000

 

888

5.000% due 07/01/2051

 

2,360

 

2,316

San Diego Public Facilities Financing Authority, California Revenue Bonds, Series 2020

 

 

 

 

4.000% due 08/01/2038

 

1,610

 

1,577

4.000% due 08/01/2045

 

1,250

 

1,185

San Diego Public Facilities Financing Authority, California Revenue Bonds, Series 2022
5.000% due 05/15/2047

 

1,000

 

1,045

San Diego Unified School District, California General Obligation Bonds, Series 2020
4.000% due 07/01/2050

 

900

 

837

San Diego Unified School District, California General Obligation Bonds, Series 2023
5.000% due 07/01/2048 (a)

 

1,000

 

1,050

San Francisco Bay Area Rapid Transit District, California General Obligation Bonds, Series 2017
5.000% due 08/01/2047

 

1,000

 

1,025

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

September 30, 2023

(Unaudited)

 

San Francisco Bay Area Rapid Transit District, California General Obligation Bonds, Series 2019
4.000% due 08/01/2044

 

2,780

 

2,597

San Francisco, California City & County Airport Comm-San Francisco International Airport Revenue Bonds, Series 2017
5.000% due 05/01/2047

 

2,750

 

2,802

San Francisco, California City & County Airport Comm-San Francisco International Airport Revenue Bonds, Series 2019

 

 

 

 

5.000% due 05/01/2049

 

4,000

 

3,972

5.000% due 05/01/2050

 

3,500

 

3,602

San Francisco, California City & County Certificates of Participation Bonds, Series 2015
4.000% due 09/01/2033

 

1,530

 

1,466

San Francisco, California City & County Certificates of Participation Bonds, Series 2019
4.000% due 04/01/2038

 

3,000

 

2,887

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

 

1,800

 

1,868

San Francisco, California City & County Public Utilities Commission Wastewater Revenue Bonds, Series 2018
4.000% due 10/01/2043 (e)

 

10,000

 

9,336

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

 

1,200

 

1,235

San Jose Evergreen Community College District, California General Obligation Bonds, Series 2014
4.125% due 09/01/2043

 

1,750

 

1,758

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

 

1,800

 

1,890

San Jose Unified School District, California General Obligation Bonds, Series 2019
4.000% due 08/01/2042

 

1,000

 

936

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

 

 

 

 

5.000% due 10/01/2032

 

850

 

867

5.000% due 10/01/2033

 

1,125

 

1,146

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

 

12,000

 

7,634

San Mateo Foster City Public Financing Authority, California Revenue Bonds, Series 2019
4.000% due 08/01/2044

 

1,655

 

1,534

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

 

1,800

 

1,643

Santa Ana Unified School District, California General Obligation Bonds, Series 2019
4.000% due 08/01/2048

 

1,750

 

1,581

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

 

2,200

 

2,010

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

 

1,270

 

1,190

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

 

1,000

 

468

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

 

4,850

 

4,498

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

 

1,815

 

1,900

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

 

2,190

 

2,241

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

 

19,480

 

2,508

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

 

5,000

 

792

University of California Revenue Bonds, Series 2019
5.000% due 05/15/2049

 

2,000

 

2,059

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

 

3,000

 

2,445

Val Verde Unified School District, California General Obligation Bonds, (AGM Insured), Series 2021
4.000% due 08/01/2046

 

800

 

725

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

 

3,000

 

2,488

 

 

 

 

320,742

DELAWARE 1.5%

 

 

 

 

Affordable Housing Opportunities Trust, Delaware Revenue Bonds, Series 2022

 

 

 

 

3.167% due 10/01/2038

 

2,935

 

2,310

7.120% due 10/01/2038

 

525

 

471

 

 

 

 

2,781

ILLINOIS 2.5%

 

 

 

 

Chicago, Illinois General Obligation Bonds, Series 2007
5.500% due 01/01/2042

 

2,350

 

2,335

Illinois State General Obligation Bonds, Series 2018
5.000% due 05/01/2035

 

1,000

 

1,016

Illinois State General Obligation Bonds, Series 2020
4.125% due 10/01/2036

 

1,500

 

1,408

 

 

 

 

4,759

INDIANA 1.0%

 

 

 

 

Indiana Finance Authority Revenue Bonds, Series 2022
4.500% due 12/15/2046

 

1,880

 

1,877

NEW HAMPSHIRE 1.0%

 

 

 

 

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

 

2,117

 

1,975

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

September 30, 2023

(Unaudited)

 

NEW YORK 0.7%

 

 

 

 

New York Liberty Development Corp. Revenue Bonds, Series 2005
5.250% due 10/01/2035

 

1,250

 

1,360

NORTH DAKOTA 0.2%

 

 

 

 

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

 

720

 

360

PENNSYLVANIA 0.7%

 

 

 

 

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

 

1,275

 

1,394

PUERTO RICO 8.6%

 

 

 

 

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

 

24,300

 

1,429

Commonwealth of Puerto Rico Bonds, Series 2022

 

 

 

 

0.000% due 11/01/2043

 

3,269

 

1,699

0.000% due 11/01/2051

 

2,855

 

1,341

Commonwealth of Puerto Rico General Obligation Bonds, Series 2021

 

 

 

 

0.000% due 07/01/2033 (c)

 

1,250

 

739

4.000% due 07/01/2041

 

1,300

 

1,049

Puerto Rico Highway & Transportation Authority Revenue Bonds, Series 2022

 

 

 

 

0.000% due 07/01/2053 (d)

 

2,189

 

1,360

5.000% due 07/01/2062

 

251

 

240

Puerto Rico Highway & Transportation Authority Revenue Notes, Series 2022
0.000% due 07/01/2032 (c)

 

163

 

105

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2018
0.000% due 07/01/2051 (c)

 

20,000

 

3,730

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

 

5,425

 

4,749

 

 

 

 

16,441

TEXAS 0.5%

 

 

 

 

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

 

 

 

 

7.500% due 12/01/2045

 

500

 

316

12.000% due 12/01/2045

 

850

 

710

 

 

 

 

1,026

U.S. VIRGIN ISLANDS 1.0%

 

 

 

 

Matching Fund Special Purpose Securitization Corp., U.S. Virgin Islands Revenue Bonds, Series 2022
5.000% due 10/01/2039

 

2,005

 

1,936

VIRGINIA 0.4%

 

 

 

 

Virginia Small Business Financing Authority Revenue Bonds, Series 2019

 

 

 

 

0.000% due 07/01/2061 (c)

 

19,000

 

380

5.500% due 07/01/2044

 

500

 

438

 

 

 

 

818

Total Municipal Bonds & Notes (Cost $378,310)

 

 

 

355,525

SHORT-TERM INSTRUMENTS 0.5%

 

 

 

 

REPURCHASE AGREEMENTS (g) 0.5%

 

 

 

994

Total Short-Term Instruments (Cost $994)

 

 

 

994

Total Investments in Securities (Cost $379,304)

 

 

 

356,519

Total Investments 186.1% (Cost $379,304)

 

 

$

356,519

Auction Rate Preferred Shares (80.7)%

 

 

 

(154,575)

Remarketable Variable Rate MuniFund Term Preferred Shares, at liquidation value (29.5)%

 

 

 

(56,498)

Other Assets and Liabilities, net 24.1%

 

 

 

46,078

Net Assets Applicable to Common Shareholders 100.0%

 

 

$

191,524

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

September 30, 2023

(Unaudited)

 

 

NOTES TO SCHEDULE OF INVESTMENTS:

 

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

 

¤

The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.

^

Security is in default.

(a)

When-issued security.

(b)

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

(c)

Zero coupon security.

(d)

Security becomes interest bearing at a future date.

(e)

Represents an underlying municipal bond transferred to a tender option bond trust established in a tender option bond transaction in which the Fund sold, or caused the sale of, the underlying municipal bond and purchased the residual interest certificate. The security serves as collateral in a financing transaction.

(f)

RESTRICTED SECURITIES:

Issuer Description

Coupon

Maturity
Date

Acquisition
Date

 

Cost

 

Market
Value

Market Value

as Percentage

of Net Assets

Applicable to

Common

Shareholders

California Municipal Finance Authority Revenue Bonds, Series 2021

4.000

%

09/01/2050

08/03/2022

$

1,359

$

1,154

0.60

%

BORROWINGS AND OTHER FINANCING TRANSACTIONS

(g)

REPURCHASE AGREEMENTS:

Counterparty

Lending
Rate

Settlement
Date

Maturity
Date

 

Principal
Amount

Collateralized By

 

Collateral
(Received)

 

Repurchase
Agreements,
at Value

 

Repurchase
Agreement
Proceeds
to be
Received(1)

FICC

2.600%

09/29/2023

10/02/2023

$

994

U.S. Treasury Notes 0.250% due 09/30/2025

$

(1,014)

$

994

$

994

Total Repurchase Agreements

 

$

(1,014)

$

994

$

994

(1)

Includes accrued interest.

FAIR VALUE MEASUREMENTS

The following is a summary of the fair valuations according to the inputs used as of September 30, 2023 in valuing the Fund's assets and liabilities:

 

Category and Subcategory

Level 1

Level 2

Level 3

Fair Value
at 09/30/2023

Investments in Securities, at Value

Municipal Bonds & Notes

 

Arizona

$

0

$

56

$

0

$

56

 

 

California

 

0

 

320,742

 

0

 

320,742

 

 

Delaware

 

0

 

2,781

 

0

 

2,781

 

 

Illinois

 

0

 

4,759

 

0

 

4,759

 

 

Indiana

 

0

 

1,877

 

0

 

1,877

 

 

New Hampshire

 

0

 

1,975

 

0

 

1,975

 

 

New York

 

0

 

1,360

 

0

 

1,360

 

 

North Dakota

 

0

 

360

 

0

 

360

 

 

Pennsylvania

 

0

 

1,394

 

0

 

1,394

 

 

Puerto Rico

 

0

 

16,441

 

0

 

16,441

 

 

Texas

 

0

 

1,026

 

0

 

1,026

 

 

U.S. Virgin Islands

 

0

 

1,936

 

0

 

1,936

 

 

Virginia

 

0

 

818

 

0

 

818

 

Short-Term Instruments

 

Repurchase Agreements

 

0

 

994

 

0

 

994

 

Total Investments

$

0

$

356,519

$

0

$

356,519

 

 

There were no significant transfers into or out of Level 3 during the period ended September 30, 2023.

 

Notes to Financial Statements

 

1. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS

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

 

On each day that the New York Stock Exchange (“NYSE”) is open, the Fund’s shares are ordinarily valued as of the close of regular trading (normally 4:00 p.m., Eastern time) (“NYSE Close”). Information that becomes known to the Fund or its agents after the time as of which NAV has been calculated on a particular day will not generally be used to retroactively adjust the price of a security or the NAV determined earlier that day. If regular trading on the NYSE closes earlier than scheduled, the Fund may calculate its NAV as of the earlier closing time or calculate its NAV as of the normally scheduled close of regular trading on the NYSE for that day. The Fund generally does not calculate its NAV on days during which the NYSE is closed. However, if the NYSE is closed on a day it would normally be open for business, the Fund may calculate its NAV as of the normally scheduled NYSE Close for that day or such other time that the Fund may determine.

 

For purposes of calculating NAV, portfolio securities and other assets for which market quotations are readily available are valued at market value. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. Market value is generally determined on the basis of official closing prices or the last reported sales prices. The Fund will normally use pricing data for domestic equity securities received shortly after the NYSE Close and does not normally take into account trading, clearances or settlements that take place after the NYSE Close.

 

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the “Act”). As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board of Trustees has designated Pacific Investment Management Company LLC (“PIMCO”) as the valuation designee (“Valuation Designee”) for the Fund to perform the fair value determination relating to all Fund investments. PIMCO may carry out its designated responsibilities as Valuation Designee through various teams and committees. The Valuation Designee’s policies and procedures govern the Valuation Designee’s selection and application of methodologies for determining and calculating the fair value of Fund investments. The Valuation Designee may value Fund portfolio securities for which market quotations are not readily available and other Fund assets utilizing inputs from pricing services, quotation reporting systems, valuation agents and other third-party sources (together, “Pricing Sources”).

 

Fair valuation may require subjective determinations about the value of a security. While the Fund’s and Valuation Designee's policies and procedures are intended to result in a calculation of the Fund's NAV that fairly reflects security values as of the time of pricing, the Fund cannot ensure that fair values accurately reflect the price that the Fund could obtain for a security if it were to dispose of that security as of the time of pricing (for instance, in a forced or distressed sale). The prices used by the Fund may differ from the value that would be realized if the securities were sold.

 

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

 

• Level 1 — Quoted prices (unadjusted) in active markets or exchanges for identical assets and liabilities.

 

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

 

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

 

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

 

For fair valuations using significant unobservable inputs, U.S. GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to realized gain (loss), unrealized appreciation (depreciation), purchases and sales, accrued discounts (premiums), and transfers into and out of the Level 3 category during the period. The end of period value is used for the transfers between Levels of the Fund's assets and liabilities. Additionally, U.S. GAAP requires quantitative information regarding the significant unobservable inputs used in the determination of fair value of assets or liabilities categorized as Level 3 in the fair value hierarchy. In accordance with the requirements of U.S. GAAP, a fair value hierarchy, and if material, a Level 3 reconciliation and details of significant unobservable inputs, have been included in the Notes to Schedule of Investments for the Fund.

 

(c) Valuation Techniques and the Fair Value Hierarchy

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

 

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

 

 

 

Notes to Financial Statements (Cont.)

 

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.

 

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

 

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

 

2. FEDERAL INCOME TAX MATTERS

The Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (the “Code”) and distribute all of its 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, 2023, the Fund has recorded no liability for net unrecognized tax benefits relating to uncertain income tax positions it has taken or expects to take in future tax returns.

 

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

 

 

 

 

Glossary: (abbreviations that may be used in the preceding statements)   (Unaudited)
                     
Counterparty Abbreviations:    
FICC   Fixed Income Clearing Corporation                 
                     
Currency Abbreviations:    
USD (or $)   United States Dollar                
                     
Municipal Bond or Agency Abbreviations:    
AGM   Assured Guaranty Municipal   CM   California Mortgage Insurance   NPFGC   National Public Finance Guarantee Corp.
BAM   Build America Mutual Assurance                
                     
Other  Abbreviations:    
TBA   To-Be-Announced