UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT
INVESTMENT COMPANIES
| Investment Company Act file number | 811-21077 |
| PIMCO California Municipal Income Fund II | ||
| (Exact name of registrant as specified in charter) | ||
| 1345 Avenue of the Americas, New York, | New York 10105 | |
| (Address of principal executive offices) | (Zip code) | |
| Lawrence G. Altadonna - 1345 Avenue of the Americas, New York, New York 10105 | ||
| (Name and address of agent for service) | ||
| Registrant’s telephone number, including area code: | 212-739-3371 | |
| Date of fiscal year end: | May 31, 2008 | |
| Date of reporting period: | May 31, 2008 |
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e -1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
ITEM 1. REPORT TO SHAREHOLDERS
|
PIMCO Municipal Income Fund II
Annual Report
|
Contents
|
Letter to Shareholders |
1 |
|
|
Fund Insights/Performance & Statistics |
2-4 |
|
|
Schedules of Investments |
5-25 |
|
|
Statements of Assets and Liabilities |
26 |
|
|
Statements of Operations |
27 |
|
|
Statements of Changes in Net Assets |
28-29 |
|
|
Statements of Cash Flows |
30-31 |
|
|
Notes to Financial Statements |
32-39 |
|
|
Financial Highlights |
40-42 |
|
|
Report of Independent Registered Public |
43 |
|
|
Tax Information/Annual Shareholder Meetings Results/ |
44 |
|
|
Privacy Policy/Proxy Voting Policies & Procedures |
45 |
|
|
Dividend Reinvestment Plan |
46 |
|
|
Board of Trustees |
47-48 |
|
|
Principal Officers |
49 |
July 15, 2008
Dear Shareholder:
We are pleased to provide you with the annual report for PIMCO Municipal Income Fund II, PIMCO California Municipal Income Fund II and PIMCO New York Municipal Income Fund II (the “Funds”) for the fiscal year ended May 31, 2008.
As economic growth slowed and credit conditions tightened during the period, the U.S. bond market delivered positive returns for all but U.S. high yield bonds. The Lehman Municipal Bond Index posted a 3.87% tax-advantaged return. The Federal Reserve (the “Fed”) reduced the Federal Funds rate seven times during the reporting period, reducing the benchmark rate on loans between member banks from 5.25% to 2.0%. The Fed also sought other methods to inject liquidity into the economy.
Since February 2008, industry-wide developments in the auction-rate preferred markets have caused auctions for the Funds’ auction-rate preferred shares (“ARPS”) to fail, as described in Note 5 in the accompanying Notes to Financial Statements. At the time this report is being prepared, it is not possible to predict how and when full or partial liquidity will return, if at all, to the closed-end fund ARPS market. Additional information regarding ARPS, failed auctions and potential solutions to address the unprecedented lack of liquidity of the ARPS due to recent failed auctions can be accessed on our Web site, www.allianzinvestors.com/arps.
For specific information on the Funds and their performance during the reporting period, please review the following pages. If you have any questions regarding the information provided, we encourage you to contact your financial advisor or call the Funds’ shareholder servicing agent at (800) 331-1710. You will also find a wide range of information and resources is available on our Web site, www.allianzinvestors.com/closedendfunds.
Together with Allianz Global Investors Fund Management LLC, the Funds’ investment manager, and Pacific Investment Management Company LLC (“PIMCO”), the Funds’ sub-adviser, we thank you for investing with us.
We remain dedicated to serving your investment needs.
|
Sincerely, |
|
|
|
|
|
Hans W. Kertess |
Brian S. Shlissel |
|
Chairman |
President & Chief Executive Officer |
5.31.08 | PIMCO Municipal Income Funds II Annual Report 1
|
• |
For the fiscal year ended May 31, 2008, PIMCO Municipal Income Fund II returned (2.75)% on net asset value and (3.09)% on market price, compared to (1.78)% and (3.56)%, respectively for the Lipper Analytical General Municipal Debt Funds Leveraged (the “Benchmark”) average. |
|
• |
The Fund’s average credit quality was AA- at fiscal year-end compared to the Benchmark’s average of AA1/AA2. |
|
• |
Municipal Securities underperformed Treasuries and the taxable debt sector during the reporting period as the Lehman Brothers Municipal Bond Index |
returned 3.87%, while the Lehman Brothers Aggregate and the Lehman Brothers Treasury Indices returned 6.89% and 9.81%, respectively.
|
• |
For the 12-month period ended May 31, 2008, 10-year AAA muni yields decreased 27 basis points, while 20-and 30-year AAA muni yields increased 14 and 26 basis points, respectively. |
|
• |
The Fund’s effective duration was managed below that of its Benchmark throughout the period, which was positive for performance, as municipal yields decreased in the short maturities, and increased in the longer |
maturities during the reporting period.
|
• |
Exposure to the prerefunded and special tax sectors were positive for performance as these sectors outperformed during the reporting period. |
|
• |
Exposure to the hospital sector detracted from performance as this sector underperformed during the fiscal year. |
|
• |
The Fund’s Hedging strategies detracted from performance as municipals underperformed Treasuries during the twelve-month reporting period. |
|
Total Return(1): |
|
Market Price |
|
Net Asset Value (“NAV”) |
|
1 Year |
|
(3.09)% |
|
(2.75)% |
|
3 Year |
|
3.86% |
|
3.65% |
|
5 Year |
|
5.48% |
|
5.24% |
|
Commencement of Operations (6/28/02) to 5/31/08 |
|
5.50% |
|
5.95% |
Common Share Market Price/NAV Performance:
Commencement of Operations (6/28/02) to 5/31/08
Market Price
NAV
$16.00
15.50
15.00
14.50
14.00
13.50
13.00
12.50
6/28/02
5/31/08
|
Market Price/NAV: |
|
|
Market Price |
$14.14 |
|
NAV |
$13.86 |
|
Premium to NAV |
2.02% |
|
Market Price Yield(2) |
5.52% |
(1) Past performance is no guarantee of future results. Returns are calculated by determining the percentage change in net asset value or market share price (as applicable) in the period covered. The calculation assumes that all of the Fund’s income dividends and capital gain distributions have been reinvested. Total return does not reflect broker commissions or sales charges. Total return for a period of more than one year represents the average annual total return.
The Fund’s performance at market price will differ from its results at NAV. Although market price returns typically reflect investment results over time, during shorter periods returns at market price can also be influenced by factors such as changing views about the Fund, market conditions, supply and demand for the Fund’s shares, or changes in Fund distributions.
An investment in the Fund involves risk, including the loss of principal. Total return, market price, market price yield and net asset value will fluctuate with changes in market conditions. This data is provided for information only and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering, and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Net asset value is equal to total assets attributable to common shareholders less total liabilities divided by the number of common shares outstanding. Holdings are subject to change daily.
(2) Market Price Yield is determined by dividing the annualized current monthly per share dividend (comprised from net investment income) payable to common shareholders by the market price per common share at May 31, 2008.
2 PIMCO Municipal Income Funds II Annual Report | 5.31.08
|
PIMCO California Municipal Income Fund II Fund Insights/Performance & Statistics |
|
May 31, 2008 (unaudited) |
|
• |
For the fiscal year ended May 31, 2008, PIMCO California Municipal Income Fund II returned (4.83)% on net asset value and (5.17)% on market price, compared to (0.40)% and (4.24)%, respectively for the Lipper California Municipal Debt Funds—Leveraged (the “Benchmark”) average. |
|
• |
The Fund’s average credit quality was AA- at fiscal year-end compared to the Benchmark’s average of AA1/AA2. |
|
• |
Municipals underperformed Treasuries and the taxable debt sector during the reporting period as Lehman Brothers |
California Municipal Index returned 3.04%, while the Lehman Brothers Aggregate and the Lehman Brothers Treasury Indices returned 6.89% and 9.81%, respectively.
|
• |
For the 12-month period ended May 31, 2008, 10-year California muni yields increased 2 basis points, while 20- and 30-year yields increased 39 and 48 basis points, respectively. |
|
• |
The Fund’s effective duration was managed below that of its Benchmark throughout the period, which performance, as municipal yields |
increased in the longer maturities while decreasing in the shorter maturities.
|
• |
Exposure to tobacco-securitized municipals detracted from performance as the over-all index returned (4.45)% during the reporting period. |
|
• |
California Municipals slightly underperformed the broader national market for the 12-month period. |
| • | The Fund’s Hedging strategy detracted from performance as municipals underperformed Treasuries during the reporting period. |
|
Total Return(1): |
|
Market Price |
|
Net Asset Value (“NAV”) |
|
1 Year |
|
(5.17)% |
|
(4.83)% |
|
3 Year |
|
4.89% |
|
3.03% |
|
5 Year |
|
5.73% |
|
4.55% |
|
Commencement of Operations (6/28/02) to 5/31/08 |
|
5.55% |
|
5.22% |
Common Share Market Price/NAV Performance:
Commencement of Operations (6/28/02) to 5/31/08
Market Price
NAV
$17.00
16.00
15.00
14.00
13.00
12.00
11.00
6/28/02
5/31/08
|
Market Price/NAV: |
|
|
Market Price |
$ 14.25 |
|
NAV |
$ 13.34 |
|
Premium to NAV |
6.82% |
|
Market Price Yield(2) |
5.89% |
(1) Past performance is no guarantee of future result. Returns are calculated by determining the percentage change in net asset value or market share price (as applicable) in the period covered. The calculation assumes that all of the Fund’s income dividends have been reinvested. Total return does not reflect broker commissions or sales charges. Total return for a period of more than one year represents the average annual total return.
The Fund’s performance at market price will differ from its results at NAV. Although market price returns typically reflect investment results over time, during shorter periods returns at market price can also be influenced by factors such as changing views about the Fund, market conditions, supply and demand for the Fund’s shares, or changes in Fund distributions.
An investment in the Fund involves risk, including the loss of principal. Total return, market price, market price yield and net asset value will fluctuate with changes in market conditions. This data is provided for information only and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Net asset value is equal to total assets attributable to common shareholders less total liabilities divided by the number of common shares outstanding. Holdings are subject to change daily.
(2) Market Price Yield is determined by dividing the annualized current monthly per share dividend (comprised from net investment income) payable to common shareholders by the market price per common share at May 31, 2008.
5.31.08 | PIMCO Municipal Income Funds II Annual Report 3
|
PIMCO New York Municipal Income Fund II Fund Insights/Performance & Statistics |
|
May 31, 2008 (unaudited) |
|
• |
For the fiscal year ended May 31, 2008, PIMCO New York Municipal Income Fund II returned (2.19)% on net asset value and (1.46)% on market price, compared to 0.13% and (3.01)%, respectively for the Lipper New York Municipal Debt Funds— Leveraged (the “Benchmark”) average. |
|
• |
The Fund’s average credit quality was AA at fiscal year-end compared to the Benchmark’s average of AA1/AA2. |
|
• |
Municipals underperformed Treasuries and the taxable debt sector during the reporting period the Lehman Brothers |
New York Muni Index returned 4.44%, while the Lehman Brothers Aggregate and the Lehman Brothers Treasury Indices returned 6.89% and 9.81%, respectively.
|
• |
For the 12-month period, 10-year New York yields decreased 28 basis points, while 20- and 30-year New York yields increased 12 and 24 basis points, respectively. |
|
• |
The Fund’s effective duration was managed below that of its Benchmark throughout the period, which was positive for performance, as municipal |
yields decreased in the short-end and increased in the longer maturities.
|
• |
Exposure to hospital bonds detracted from performance as this sector underperformed for the fiscal year. |
|
• |
Municipal bonds within New York outperformed the broader national market during the reporting period. |
|
• |
The Fund’s Hedging strategies detracted from performance as municipals underperformed Treasuries during the twelve-month reporting period. |
|
Total Return(1): |
Market Price |
|
Net Asset Value (“NAV”) | |
|
1 Year |
|
(1.46)% |
|
(2.19)% |
|
3 Year |
|
4.98% |
|
3.58% |
|
5 Year |
|
5.91% |
|
5.19% |
|
Commencement of Operations (6/28/02) to 5/31/08 |
|
5.62% |
|
5.50% |
Common Share Market Price/NAV Performance:
Commencement of Operations (6/28/02) to 5/31/08
Market Price
NAV
$16.50
16.00
15.50
15.00
14.50
14.00
13.50
13.00
6/28/02
5/31/08
12.50
12.00
|
Market Price/NAV: |
|
|
Market Price |
$ 14.42 |
|
NAV |
$ 13.67 |
|
Premium to NAV |
5.49% |
|
Market Price Yield(2) |
5.51% |
(1) Past performance is no guarantee of future results. Returns are calculated by determining the percentage change in the net asset value or market share price (as applicable) in the period covered. The calculation assumes that all of the Fund’s income dividends have been reinvested. Total return does not reflect broker commissions or sales charges. Total return for a period more than one year represents the average annual total return.
The Fund’s performance at market price will differ from its results at NAV. Although market price returns typically reflect investment results over time, during shorter periods returns at market price can also be influenced by factors such as changing views about the Fund, market conditions, supply and demand for the Fund’s shares, or changes in Fund distributions.
An investment in the Fund involves risk, including the loss of principal. Total return, market price, market price yield and net asset value will fluctuate with changes in market conditions. This data is provided for information only and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Net asset value is equal to total assets attributable to common shareholders less total liabilities divided by the number of common shares outstanding. Holdings are subject to change daily.
(2) Market Price Yield is determined by dividing the annualized current monthly per share dividend (comprised from net investment income) payable to common shareholders by the market price per common share at May 31, 2008.
4 PIMCO Municipal Income Funds II Annual Report | 5.31.08
|
Principal |
|
|
|
Credit Rating (Moody’s/S&P)* |
|
Value |
| ||
|
MUNICIPAL BONDS & NOTES—96.0% |
|
|
|
|
|
| |||
|
|
|
|
Alabama—3.5% |
|
|
|
|
|
|
|
$ |
10,000 |
|
Birmingham Baptist Medical Centers Special Care Facs. Financing Auth. Rev, 5.00%, 11/15/30, Ser. A |
|
Baa1/NR |
|
$ |
8,752,800 |
|
|
|
18,000 |
|
Birmingham Waterworks & Sewer Board Rev., 5.25%, 1/1/33, Ser. B, (Pre-refunded @ $100, 1/1/13) (MBIA)(b)(h) |
|
Aaa/AAA |
|
|
19,678,680 |
|
|
|
1,750 |
|
Huntsville Health Care Auth. Rev., 5.75%, 6/1/32, Ser. B, (Pre-refunded @$101, 6/1/12) (b) |
|
A2/NR |
|
|
1,936,935 |
|
|
|
16,580 |
|
Jefferson Cnty. Sewer Rev., 4.75%, 2/1/38, Ser. B, (Pre-refunded @ $100, 8/1/12) (FGIC)(b) |
|
Aaa/AAA |
|
|
17,427,238 |
|
|
|
2,650 |
|
Tuscaloosa Educational Building Auth. Rev., Stillman College, 5.00%, 6/1/26 |
|
NR/BBB- |
|
|
2,305,474 |
|
|
|
|
|
|
|
|
|
|
50,101,127 |
|
|
|
|
|
Alaska—0.6% |
|
|
|
|
|
|
|
|
5,900 |
|
Northern Tobacco Securitization Corp. Rev., 5.00%, 6/1/46, Ser. A |
|
Baa3/NR |
|
|
4,491,198 |
|
|
|
3,550 |
|
State Housing Finance Corp. Rev., 5.25%, 6/1/32, Ser. C (MBIA) |
|
Aaa/AAA |
|
|
3,586,707 |
|
|
|
|
|
|
|
|
|
|
8,077,905 |
|
|
|
|
|
Arizona—5.7% |
|
|
|
|
|
|
|
|
|
|
Health Facs. Auth. Rev., |
|
|
|
|
|
|
|
|
6,500 |
|
Beatitudes Project, 5.20%, 10/1/37 |
|
NR/NR |
|
|
5,219,825 |
|
|
|
1,300 |
|
Hospital System, 5.75%, 12/1/32, (Pre-refunded @ $101, 12/1/12) (b) |
|
NR/BBB |
|
|
1,453,569 |
|
|
|
|
|
Pima Cnty. Industrial Dev. Auth. Rev., |
|
|
|
|
|
|
|
|
3,500 |
|
Center for Academic Success, 5.50%, 7/1/37 (c) |
|
NR/BBB- |
|
|
3,065,720 |
|
|
|
29,700 |
|
Correctional Facs., 5.00%, 9/1/39 |
|
Aa2/AA |
|
|
29,902,851 |
|
|
|
33,000 |
|
Salt River Project Agricultural Improvement & Power Dist. Rev., 5.00%, 1/1/37, Ser. A (h) |
|
Aa1/AA |
|
|
33,835,230 |
|
|
|
10,500 |
|
Salt Verde Financial Corp. Rev., 5.00%, 12/1/37 |
|
Aa3/AA- |
|
|
9,306,255 |
|
|
|
|
|
|
|
|
|
|
82,783,450 |
|
|
|
|
|
Arkansas—0.1% |
|
|
|
|
|
|
|
|
13,000 |
|
Arkansas Dev. Finance Auth. Rev., zero coupon, 7/1/46 (AMBAC) |
|
Aaa/NR |
|
|
1,711,970 |
|
|
|
|
|
California—5.0% |
|
|
|
|
|
|
|
|
9,610 |
|
Alameda Corridor Transportation Auth. Rev., zero coupon, 10/1/16, Ser. A (AMBAC) |
|
Aaa/AAA |
|
|
6,678,181 |
|
|
|
|
|
Golden State Tobacco Securitization Corp. Rev., Ser. A-1, |
|
|
|
|
|
|
|
|
6,000 |
|
5.00%, 6/1/33 |
|
Baa3/BBB |
|
|
4,984,980 |
|
|
|
3,080 |
|
6.25%, 6/1/33 |
|
Aaa/AAA |
|
|
3,344,788 |
|
|
|
9,000 |
|
6.75%, 6/1/39, (Pre-refunded @ $100, 6/1/13) (b) |
|
Aaa/AAA |
|
|
10,351,170 |
|
|
|
1,000 |
|
Rancho Cucamonga Community Facs. Dist., Special Tax, 6.30%, 9/1/23, Ser. A |
|
NR/NR |
|
|
1,009,490 |
|
|
|
|
|
State, GO, |
|
|
|
|
|
|
|
|
800 |
|
5.00%, 6/1/37 |
|
A1/A+ |
|
|
799,992 |
|
|
|
28,600 |
|
5.00%, 11/1/37, Ser. 2670 (h) |
|
A1/A+ |
|
|
28,598,570 |
|
|
|
10,900 |
|
5.00%, 12/1/37 |
|
A1/A+ |
|
|
10,899,891 |
|
|
|
4,700 |
|
Statewide Community Dev. Auth. Rev., Baptist Univ., 9.00%, 11/1/17, Ser. B (c) |
|
NR/NR |
|
|
4,788,642 |
|
|
|
|
|
|
|
|
|
|
71,455,704 |
|
5.31.08 | PIMCO Municipal Income Funds II Annual Report 5
|
PIMCO Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
Credit Rating |
|
Value |
| ||
|
|
|
|
Colorado—5.0% |
|
|
|
|
|
|
|
$ |
30,000 |
|
Dawson Ridge Dist. No. 1, GO, zero coupon, 10/1/22, Ser. A |
|
Aaa/NR |
|
$ |
15,572,700 |
|
|
|
|
|
E-470 Public Highway Auth. Rev., Ser. B (MBIA), |
|
|
|
|
|
|
|
|
20,000 |
|
zero coupon, 9/1/35 |
|
Aaa/AAA |
|
|
3,985,400 |
|
|
|
15,000 |
|
zero coupon, 9/1/37 |
|
Aaa/AAA |
|
|
2,640,150 |
|
|
|
|
|
Health Facs. Auth. Rev., |
|
|
|
|
|
|
|
|
1,000 |
|
American Baptist Homes, 5.90%, 8/1/37, Ser. A |
|
NR/NR |
|
|
889,830 |
|
|
|
25,000 |
|
Catholic Health Initiatives, 5.50%, 3/1/32 |
|
Aa2/AA |
|
|
25,824,250 |
|
|
|
18,305 |
|
Exempla, Inc., 5.625%, 1/1/33, Ser. A |
|
A1/A- |
|
|
18,513,494 |
|
|
|
6,500 |
|
Liberty Height, zero coupon, 7/15/22 |
|
Aaa/AAA |
|
|
3,406,845 |
|
|
|
2,000 |
|
Housing & Finance Auth. Rev., Evergreen Country Day School, 5.875%, 6/1/37 (c) |
|
NR/BB |
|
|
1,808,980 |
|
|
|
|
|
|
|
|
|
|
72,641,649 |
|
|
|
|
|
District of Columbia—1.2% |
|
|
|
|
|
|
|
|
17,500 |
|
Washington D.C. Convention Center Auth. Tax Rev., 4.75%, 10/1/28, (Pre-refunded @ $100, 10/1/08) (AMBAC) (b) |
|
Aaa/AAA |
|
|
17,657,325 |
|
|
|
|
|
Florida—4.7% |
|
|
|
|
|
|
|
|
2,310 |
|
Dev. Finance Corp. Rev., Learning Gate Community School, 6.00%, 2/15/37 |
|
NR/BBB- |
|
|
2,157,563 |
|
|
|
8,000 |
|
Highlands Cnty. Health Facs. Auth. Rev., Adventist/Sunbelt |
|
|
|
|
|
|
|
|
|
|
Health System, 6.00%, 11/15/31, Ser. A, |
|
|
|
|
|
|
|
|
|
|
(Pre-refunded @ $101, 11/15/11) (b) |
|
A1/NR |
|
|
8,902,640 |
|
|
|
|
|
Hillsborough Cnty. Industrial Dev. Auth. Rev., |
|
|
|
|
|
|
|
|
2,335 |
|
Pollution Control, Tampa Electric Co., 5.50%, 10/1/23 |
|
Baa2/BBB- |
|
|
2,241,413 |
|
|
|
635 |
|
Health Facs. Project, 5.625%, 8/15/23, Ser. A |
|
Baa3/BBB |
|
|
630,142 |
|
|
|
7,135 |
|
Jacksonville Health Facs. Auth. Rev., 5.25%, 11/15/32, Ser. A |
|
Aa1/AA |
|
|
7,191,866 |
|
|
|
11,500 |
|
Lakeland Hospital System Rev., Regional Health System, 5.50%, 11/15/32, (Pre-refunded @ $101, 11/15/12) (b) |
|
A2/NR |
|
|
12,703,130 |
|
|
|
3,000 |
|
Leesburg Hospital Rev., Leesburg Regional Medical Center Project, 5.50%, 7/1/32 |
|
Baa1/BBB+ |
|
|
2,972,190 |
|
|
|
|
|
Orange Cnty. Health Facs. Auth. Rev., Adventist Health System (b), |
|
|
|
|
|
|
|
|
2,550 |
|
5.625%, 11/15/32, (Pre-refunded @ $101, 11/15/12) |
|
A1/NR |
|
|
2,841,134 |
|
|
|
5,000 |
|
6.25%, 11/15/24, (Pre-refunded @ $100, 11/15/12) |
|
A1/NR |
|
|
5,656,150 |
|
|
|
500 |
|
Sarasota Cnty. Health Fac. Auth. Rev., 5.75%, 7/1/37 |
|
NR/NR |
|
|
448,275 |
|
|
|
6,205 |
|
State Governmental Utility Auth. Rev., Barefoot Bay Utilities System, 5.00%, 10/1/29 (AMBAC) |
|
Aaa/NR |
|
|
6,284,114 |
|
|
|
5,000 |
|
Sumter Landing Community Dev. Dist. Rev., 4.75%, 10/1/35, Ser. A (MBIA) (h) |
|
Aaa/AAA |
|
|
4,858,050 |
|
|
|
10,000 |
|
Tallahassee Rev., 5.00%, 10/1/15, Ser. 2617 (h) |
|
Aa2/AA |
|
|
10,261,700 |
|
|
|
1,500 |
|
Winter Springs Water & Sewer Rev., zero coupon, 10/1/29 (FGIC) |
|
Baa3/A+ |
|
|
526,530 |
|
|
|
|
|
|
|
|
|
|
67,674,897 |
|
|
|
|
|
Georgia—0.5% |
|
|
|
|
|
|
|
|
2,775 |
|
Medical Center Hospital Auth. Rev., 5.25%, 7/1/37 |
|
NR/NR |
|
|
2,290,097 |
|
|
|
9,600 |
|
Richmond Cnty. Dev. Auth. Rev., zero coupon, 12/1/21 |
|
Aaa/NR |
|
|
5,231,904 |
|
|
|
|
|
|
|
|
|
|
7,522,001 |
|
|
|
|
|
Hawaii—1.3% |
|
|
|
|
|
|
|
|
19,170 |
|
Honolulu City & Cnty. Wastewater System Rev., First Board Resolution, 4.75%, 7/1/28 (FGIC) |
|
Aa3/NR |
|
|
19,210,640 |
|
6 PIMCO Municipal Income Funds II Annual Report | 5.31.08
|
PIMCO Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
|
Principal |
|
|
|
Credit Rating (Moody’s/S&P)* |
|
|
Value |
|
|
|
|
|
Illinois—17.6% |
|
|
|
|
|
|
|
|
|
|
Central Lake Cnty. JT Action Water Agcy. Rev., Ser. A (AMBAC), |
|
|
|
|
|
|
|
$ |
2,935 |
|
5.125%, 5/1/28 |
|
Aaa/NR |
|
$ |
2,989,855 |
|
|
|
675 |
|
5.125%, 5/1/28, (Pre-refunded @ $100, 11/1/12) (b) |
|
Aaa/NR |
|
|
736,128 |
|
|
|
|
|
Chicago, GO, Ser. A (FGIC), |
|
|
|
|
|
|
|
|
1,635 |
|
5.125%, 1/1/29 |
|
Aaa/AAA |
|
|
1,651,546 |
|
|
|
3,415 |
|
5.125%, 1/1/29, (Pre-refunded @ $101, 1/1/09) (b) |
|
Aa3/AA- |
|
|
3,513,011 |
|
|
|
|
|
Chicago, Lake Shore East, Special Assessment, |
|
|
|
|
|
|
|
|
3,162 |
|
6.625%, 12/1/22 |
|
NR/NR |
|
|
3,209,335 |
|
|
|
6,700 |
|
6.75%, 12/1/32 |
|
NR/NR |
|
|
6,769,881 |
|
|
|
|
|
Chicago Board of Education School Reform, GO (FGIC), |
|
|
|
|
|
|
|
|
15,535 |
|
zero coupon, 12/1/16, Ser. A |
|
A1/AA- |
|
|
10,726,141 |
|
|
|
5,000 |
|
zero coupon, 12/1/28, Ser. A |
|
A1/AA- |
|
|
1,735,850 |
|
|
|
4,500 |
|
zero coupon, 12/1/31 |
|
A1/AA- |
|
|
1,301,850 |
|
|
|
|
|
Chicago City Colleges, GO (FGIC), |
|
|
|
|
|
|
|
|
32,670 |
|
zero coupon, 1/1/37 |
|
Aa3/AA- |
|
|
6,574,838 |
|
|
|
29,145 |
|
zero coupon, 1/1/38 |
|
Aa3/AA- |
|
|
5,529,389 |
|
|
|
32,670 |
|
zero coupon, 1/1/39 |
|
Aa3/AA- |
|
|
5,842,049 |
|
|
|
5,000 |
|
Cicero, GO, 5.25%, 12/1/31 (MBIA) |
|
Aaa/AAA |
|
|
5,158,550 |
|
|
|
|
|
Finance Auth. Rev., |
|
|
|
|
|
|
|
|
2,500 |
|
Christian Homes, Inc., 5.75%, 5/15/31, Ser. A |
|
NR/NR |
|
|
2,210,250 |
|
|
|
250 |
|
Leafs Hockey Club, 6.00%, 3/1/37, Ser. A |
|
NR/NR |
|
|
221,152 |
|
|
|
|
|
Regency Park, |
|
|
|
|
|
|
|
|
10,000 |
|
zero coupon, 7/15/23 |
|
NR/AAA |
|
|
4,955,300 |
|
|
|
134,650 |
|
zero coupon, 7/15/25 |
|
NR/AAA |
|
|
59,794,026 |
|
|
|
1,500 |
|
Sedgebrook, Inc., 6.00%, 11/15/42, Ser. A |
|
NR/NR |
|
|
1,363,110 |
|
|
|
|
|
Health Facs. Auth. Rev, |
|
|
|
|
|
|
|
|
5,000 |
|
Condell Medical Center, 5.50%, 5/15/32 |
|
Baa3/NR |
|
|
4,630,550 |
|
|
|
20,100 |
|
Elmhurst Memorial Healthcare, 5.625%, 1/1/28 |
|
Baa1/NR |
|
|
20,135,175 |
|
|
|
|
|
Hillside, Tax Allocation, Mannheim Redev. Project (d), |
|
|
|
|
|
|
|
|
4,500 |
|
6.55%, 1/1/20 |
|
NR/NR |
|
|
4,485,285 |
|
|
|
2,900 |
|
7.00%, 1/1/28 |
|
NR/NR |
|
|
2,887,559 |
|
|
|
|
|
Metropolitan Pier & Exposition Auth. Rev. (MBIA), |
|
|
|
|
|
|
|
|
60,000 |
|
zero coupon, 12/15/30 |
|
Aaa/AAA |
|
|
18,585,000 |
|
|
|
50,000 |
|
zero coupon, 12/15/33 |
|
Aaa/AAA |
|
|
13,021,000 |
|
|
|
2,460 |
|
zero coupon, 6/15/38 |
|
Aaa/AAA |
|
|
496,600 |
|
|
|
68,470 |
|
State Sports Facs. Auth. Rev., 5.50% (zero coupon until 6/15/10), 6/15/30 (AMBAC) |
|
Aaa/AAA |
|
|
65,858,554 |
|
|
|
|
|
|
|
|
|
|
254,381,984 |
|
|
|
|
|
Indiana—0.3% |
|
|
|
|
|
|
|
|
4,125 |
|
Fort Wayne Pollution Control Rev., 6.20%, 10/15/25 |
|
Caa1/B |
|
|
3,423,997 |
|
|
|
990 |
|
Vigo Cnty. Hospital Auth. Rev., 5.80%, 9/1/47 (a)(c) |
|
NR/NR |
|
|
874,289 |
|
|
|
|
|
|
|
|
|
|
4,298,286 |
|
|
|
|
|
Iowa—4.1% |
|
|
|
|
|
|
|
|
|
|
Finance Auth. Rev., |
|
|
|
|
|
|
|
|
1,075 |
|
5.50%, 11/15/37 |
|
NR/NR |
|
|
814,968 |
|
|
|
250 |
|
Deerfield Retirement Community, 5.50%, 11/15/27, Ser. A |
|
NR/NR |
|
|
202,303 |
|
|
|
4,500 |
|
Edgewater LLC, 6.75%, 11/15/42 |
|
NR/NR |
|
|
4,371,120 |
|
|
|
1,000 |
|
Wedum Walnut Ridge LLC, 5.625%, 12/1/45, Ser. A |
|
NR/NR |
|
|
844,800 |
|
5.31.08 | PIMCO Municipal Income Funds II Annual Report 7
|
PIMCO Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
Credit Rating (Moody’s/S&P)* |
|
|
Value |
|
|
|
|
|
Iowa—(continued) |
|
|
|
|
|
|
|
$ |
2,300 |
|
Higher Education Loan Auth. Rev., Grandview College, 5.10%, 10/1/36 |
|
NR/NR |
|
$ |
2,056,706 |
|
|
|
|
|
Tobacco Settlement Auth. of Iowa Rev., Ser. B, |
|
|
|
|
|
|
|
|
46,000 |
|
5.60%, 6/1/34 |
|
Baa3/BBB |
|
|
40,917,000 |
|
|
|
8,850 |
|
5.60%, 6/1/35, (Pre-refunded @ $101, 6/1/11) (b) |
|
NR/AAA |
|
|
9,605,878 |
|
|
|
|
|
|
|
|
|
|
58,812,775 |
|
|
|
|
|
Kansas—0.2% |
|
|
|
|
|
|
|
|
2,800 |
|
Univ. of Kansas Hospital Auth. Rev., 5.625%, 9/1/32, (Pre-refunded @ $100, 9/1/12) (b) |
|
NR/AAA |
|
|
3,094,084 |
|
|
|
|
|
Kentucky—0.2% |
|
|
|
|
|
|
|
|
2,500 |
|
Economic Dev. Finance Auth. Rev., Catholic Healthcare Partners, 5.25%, 10/1/30 |
|
A1/AA- |
|
|
2,501,725 |
|
|
|
|
|
Louisiana—4.7% |
|
|
|
|
|
|
|
|
|
|
Public Facs. Auth. Rev., Ochsner Clinic Foundation, Ser. B, |
|
|
|
|
|
|
|
|
20,400 |
|
5.50%, 5/15/32, (Pre-refunded @ $100, 5/15/26) (b) |
|
Aaa/NR |
|
|
23,028,132 |
|
|
|
3,300 |
|
5.50%, 5/15/47 |
|
A3/NR |
|
|
3,207,105 |
|
|
|
44,395 |
|
Tobacco Settlement Financing Corp. Rev., 5.875%, 5/15/39, Ser. 2001-B |
|
Baa3/BBB |
|
|
41,101,779 |
|
|
|
|
|
|
|
|
|
|
67,337,016 |
|
|
|
|
|
Maryland—0.4% |
|
|
|
|
|
|
|
|
|
|
Health & Higher Educational Facs. Auth. Rev., |
|
|
|
|
|
|
|
|
1,010 |
|
5.30%, 1/1/37 |
|
NR/NR |
|
|
817,959 |
|
|
|
4,050 |
|
6.00%, 1/1/43 |
|
NR/BBB- |
|
|
4,049,757 |
|
|
|
1,000 |
|
Adventist Healthcare, 5.75%, 1/1/25, Ser. A |
|
Baa2/NR |
|
|
1,016,130 |
|
|
|
|
|
|
|
|
|
|
5,883,846 |
|
|
|
|
|
Massachusetts—3.2% |
|
|
|
|
|
|
|
|
14,500 |
|
Bay Transportation Auth. Rev., 4.75%, 7/1/34, Ser. A, (Pre-refunded @ $100, 7/1/15) (b)(h) |
|
Aa1/AAA |
|
|
15,778,465 |
|
|
|
4,610 |
|
Dev. Finance Agcy. Rev., 6.75%, 10/15/37, Ser. A |
|
NR/NR |
|
|
4,201,508 |
|
|
|
|
|
State Turnpike Auth. Rev., Ser. A (AMBAC), |
|
|
|
|
|
|
|
|
4,295 |
|
4.75%, 1/1/34 |
|
Aaa/AAA |
|
|
4,296,761 |
|
|
|
10,325 |
|
5.00%, 1/1/39 |
|
Aaa/AAA |
|
|
10,228,771 |
|
|
|
12,050 |
|
State Water Res. Auth. Rev., 4.75%, 8/1/37 Ser. A, (FSA)(h) |
|
Aaa/AAA |
|
|
12,051,446 |
|
|
|
|
|
|
|
|
|
|
46,556,951 |
|
|
|
|
|
Michigan—2.8% |
|
|
|
|
|
|
|
|
8,500 |
|
Detroit City School Dist., GO, |
|
|
|
|
|
|
|
|
|
|
5.00%, 5/1/32, Ser. A, (Pre-refunded @ $100, 5/1/13) (FGIC)(Q-SBLF)(b) |
|
Aa3/AA- |
|
|
9,209,750 |
|
|
|
4,545 |
|
Garden City Hospital Finance Auth. Rev., 5.00%, 8/15/38, Ser. A |
|
NR/NR |
|
|
3,408,568 |
|
|
|
800 |
|
Public Educational Facs. Auth. Rev., 6.50%, 9/1/37 (c) |
|
NR/NR |
|
|
747,576 |
|
|
|
500 |
|
Star International Academy, CP, 6.125%, 3/1/37 |
|
NR/BB+ |
|
|
452,340 |
|
|
|
5,000 |
|
State Hospital Finance Auth. Rev., |
|
|
|
|
|
|
|
|
|
|
Ascension Health, 5.25%, 11/15/26, Ser. B |
|
Aa1/AA |
|
|
5,035,150 |
|
|
|
|
|
Oakwood Group, Ser. A, |
|
|
|
|
|
|
|
|
13,500 |
|
5.75%, 4/1/32 |
|
A2/A |
|
|
13,583,430 |
|
|
|
1,925 |
|
6.00%, 4/1/22 |
|
A2/A |
|
|
2,007,294 |
|
|
|
6,000 |
|
Tobacco Settlement Finance Auth. Rev., 6.00%, 6/1/48, Ser. A |
|
NR/BBB |
|
|
5,283,840 |
|
|
|
|
|
|
|
|
|
|
39,727,948 |
|
8 PIMCO Municipal Income Funds II Annual Report | 5.31.08
|
PIMCO Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
Credit Rating (Moody’s/S&P)* |
|
Value |
| ||
|
|
|
|
Minnesota—0.5% |
|
|
|
|
|
|
|
$ |
1,300 |
|
Meeker Cnty. Rev., 5.75%, 11/1/37 |
|
NR/NR |
|
$ |
1,206,374 |
|
|
|
1,500 |
|
Minneapolis Rev., Providence Project, 5.75%, 10/1/37, Ser. A |
|
NR/NR |
|
|
1,344,315 |
|
|
|
280 |
|
Minneapolis, Tax Allocation, Grant Park Project, 5.35%, 2/1/30 North Oaks Presbyterian Homes Rev., |
|
NR/NR |
|
|
252,742 |
|
|
|
2,640 |
|
6.00%, 10/1/33 |
|
NR/NR |
|
|
2,609,244 |
|
|
|
1,530 |
|
6.125%, 10/1/39 |
|
NR/NR |
|
|
1,524,553 |
|
|
|
500 |
|
Oronoco Multifamily Housing Rev., 5.40%, 6/1/41 |
|
NR/NR |
|
|
446,000 |
|
|
|
|
|
|
|
|
|
|
7,383,228 |
|
|
|
|
|
Mississippi—0.3% |
|
|
|
|
|
|
|
|
3,605 |
|
Business Finance Corp., Pollution Control Rev., 5.875%, 4/1/22 |
|
Ba1/BBB |
|
|
3,605,036 |
|
|
|
740 |
|
Dev. Bank Special Obligation, Projects & Equipment Acquisitions Rev., 5.00%, 7/1/24 (AMBAC) |
|
Aaa/AAA |
|
|
715,373 |
|
|
|
|
|
|
|
|
|
|
4,320,409 |
|
|
|
|
|
Missouri—0.3% |
|
|
|
|
|
|
|
|
2,600 |
|
Branson Regional Airport Transportation Dev. Dist. Rev., 6.00%, 7/1/37, Ser. A |
|
NR/NR |
|
|
2,322,736 |
|
|
|
800 |
|
Hanley Road & North of Folk Ave. Transportation Dist. Rev., 5.00%, 10/1/25 |
|
NR/NR |
|
|
731,384 |
|
|
|
1,500 |
|
St. Louis Parking Rev., Downtown Parking Facs., 6.00%, 2/1/28, (Pre-refunded @ $100, 2/1/12) (b) |
|
NR/NR |
|
|
1,653,645 |
|
|
|
|
|
|
|
|
|
|
4,707,765 |
|
|
|
|
|
Nevada—0.5% |
|
|
|
|
|
|
|
|
1,450 |
|
Clark Cnty., GO, 5.00%, 6/1/31 (FGIC) |
|
Aa1/AA+ |
|
|
1,460,803 |
|
|
|
|
|
Reno Transportation Project Rev., (Pre-refunded @ $100, 6/1/12) (AMBAC)(b), |
|
|
|
|
|
|
|
|
2,000 |
|
5.125%, 6/1/32 |
|
Aaa/AAA |
|
|
2,157,200 |
|
|
|
3,500 |
|
5.125%, 6/1/37 |
|
Aaa/AAA |
|
|
3,775,100 |
|
|
|
|
|
|
|
|
|
|
7,393,103 |
|
|
|
|
|
New Hampshire—0.2% |
|
|
|
|
|
|
|
|
|
|
Health & Education Facs. Auth. Rev., Catholic Medical Center, |
|
|
|
|
|
|
|
|
360 |
|
6.125%, 7/1/32 |
|
Baa1/BBB+ |
|
|
366,635 |
|
|
|
2,640 |
|
6.125%, 7/1/32, (Pre-refunded @ $101, 7/1/12) (b) |
|
Baa1/BBB+ |
|
|
2,975,385 |
|
|
|
|
|
|
|
|
|
|
3,342,020 |
|
|
|
|
|
New Jersey—3.4% |
|
|
|
|
|
|
|
|
950 |
|
Burlington Cnty. Bridge Commission Rev., 5.625%, 1/1/38 |
|
NR/NR |
|
|
847,020 |
|
|
|
|
|
Economic Dev. Auth., |
|
|
|
|
|
|
|
|
|
|
Arbor Glen Rev., |
|
|
|
|
|
|
|
|
525 |
|
6.00%, 5/15/28 |
|
NR/NR |
|
|
513,051 |
|
|
|
225 |
|
6.00%, 5/15/28, Ser. A, (Pre-refunded @ $102, 5/15/09) (b) |
|
NR/NR |
|
|
238,102 |
|
|
|
|
|
Kapkowski Road Landfill, Special Assessment, |
|
|
|
|
|
|
|
|
4,000 |
|
5.75%, 10/1/21 |
|
Baa3/NR |
|
|
4,062,080 |
|
|
|
11,405 |
|
5.75%, 4/1/31 |
|
Baa3/NR |
|
|
11,034,794 |
|
|
|
1,100 |
|
Seabrook Village Rev., 5.25%, 11/15/36 |
|
NR/NR |
|
|
932,701 |
|
|
|
250 |
|
Seashore Gardens Rev., 5.375%, 11/1/36 |
|
NR/NR |
|
|
209,525 |
|
|
|
|
|
Health Care Facs. Financing Auth. Rev., |
|
|
|
|
|
|
|
|
1,500 |
|
St. Peters Univ. Hospital, 5.75%, 7/1/37 |
|
Baa2/BBB- |
|
|
1,474,965 |
|
|
|
1,830 |
|
Trinitas Hospital, 5.25%, 7/1/30, Ser. A |
|
Baa3/BBB- |
|
|
1,571,366 |
|
5.31.08 | PIMCO Municipal Income Funds II Annual Report 9
|
PIMCO Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
Credit Rating (Moody’s/S&P)* |
|
Value |
| ||
|
|
|
|
New Jersey—(continued) |
|
|
|
|
|
|
|
$ |
3,500 |
|
State Educational Facs. Auth. Rev., Fairfield Dickinson Univ., 6.00%, 7/1/25, Ser. D |
|
NR/NR |
|
$ |
3,568,040 |
|
|
|
|
|
Tobacco Settlement Financing Corp. Rev., |
|
|
|
|
|
|
|
|
13,150 |
|
5.00%, 6/1/41, Ser. 1A |
|
Baa3/BBB |
|
|
10,129,314 |
|
|
|
1,285 |
|
6.00%, 6/1/37, (Pre-refunded @ $100, 6/1/12) (b) |
|
Aaa/AAA |
|
|
1,427,982 |
|
|
|
3,095 |
|
6.125%, 6/1/42, (Pre-refunded @ $100, 6/1/12) (b) |
|
Aaa/AAA |
|
|
3,453,834 |
|
|
|
6,150 |
|
6.25%, 6/1/43, (Pre-refunded @ $100, 6/1/13) (b) |
|
Aaa/AAA |
|
|
7,024,222 |
|
|
|
2,500 |
|
6.75%, 6/1/39, (Pre-refunded @ $100, 6/1/13) (b) |
|
Aaa/AAA |
|
|
2,912,700 |
|
|
|
|
|
|
|
|
|
|
49,399,696 |
|
|
|
|
|
New Mexico—0.3% |
|
|
|
|
|
|
|
|
5,000 |
|
Farmington Pollution Control Rev., 5.80%, 4/1/22 |
|
Baa3/BB+ |
|
|
4,972,470 |
|
|
|
|
|
New York—1.2% |
|
|
|
|
|
|
|
|
1,200 |
|
Erie Cnty. Industrial Dev. Agcy., Orchard Park Rev., 6.00%, 11/15/36 |
|
NR/NR |
|
|
1,088,184 |
|
|
|
10,000 |
|
Liberty Dev. Corp. Rev., 5.25%, 10/1/35 (h) |
|
Aa3/AA- |
|
|
10,339,200 |
|
|
|
1,100 |
|
Nassau Cnty. Industrial Dev. Agcy. Rev., Amsterdam at Harborside, 6.70%, 1/1/43, Ser. A |
|
NR/NR |
|
|
1,113,244 |
|
|
|
4,750 |
|
New York City Municipal Water Finance Auth., Water & Sewer System Rev., 5.00%, 6/15/37, Ser. D (h) |
|
Aa2/AA+ |
|
|
4,842,958 |
|
|
|
|
|
|
|
|
|
|
17,383,586 |
|
|
|
|
|
North Carolina—0.1% |
|
|
|
|
|
|
|
|
|
|
Medical Care Commission Rev., |
|
|
|
|
|
|
|
|
550 |
|
Salemtowne, 5.10%, 10/1/30 |
|
NR/NR |
|
|
483,362 |
|
|
|
1,000 |
|
Village at Brookwood, 5.25%, 1/1/32 |
|
NR/NR |
|
|
839,650 |
|
|
|
|
|
|
|
|
|
|
1,323,012 |
|
|
|
|
|
North Dakota—0.3% |
|
|
|
|
|
|
|
|
3,710 |
|
Stark Cnty. Healthcare Rev., Benedictine Living Communities, 6.75%, 1/1/33 |
|
NR/NR |
|
|
3,601,668 |
|
|
|
|
|
Ohio—0.5% |
|
|
|
|
|
|
|
|
7,500 |
|
Lorain Cnty. Hospital Rev., Catholic Healthcare, 5.375%, 10/1/30 |
|
A1/AA- |
|
|
7,541,025 |
|
|
|
|
|
Pennsylvania—3.2% |
|
|
|
|
|
|
|
|
|
|
Allegheny Cnty. Hospital Dev. Auth. Rev., |
|
|
|
|
|
|
|
|
22,600 |
|
5.375%, 11/15/40, Ser. A |
|
Ba2/BB |
|
|
19,098,582 |
|
|
|
505 |
|
9.25%, 11/15/15, Ser. B, (Pre-refunded @ $102, 11/15/10) (b) |
|
Ba3/AAA |
|
|
579,412 |
|
|
|
1,000 |
|
9.25%, 11/15/22, Ser. B, (Pre-refunded @ $102, 11/15/10) (b) |
|
Ba3/AAA |
|
|
1,174,650 |
|
|
|
5,700 |
|
9.25%, 11/15/30, Ser. B, (Pre-refunded @ $102, 11/15/10) (b) |
|
Ba3/AAA |
|
|
6,695,505 |
|
|
|
|
|
Cumberland Cnty. Auth., Retirement Community Rev., Ser. A, Messiah Village, |
|
|
|
|
|
|
|
|
750 |
|
5.625%, 7/1/28 |
|
NR/BBB- |
|
|
715,710 |
|
|
|
670 |
|
6.00%, 7/1/35 |
|
NR/BBB- |
|
|
657,659 |
|
|
|
|
|
Wesley Affiliated Services, |
|
|
|
|
|
|
|
|
4,500 |
|
7.25%, 1/1/35, (Pre-refunded @ $101, 1/1/13) (b) |
|
NR/NR |
|
|
5,308,695 |
|
|
|
3,250 |
|
Harrisburg Auth. Rev., 6.00%, 9/1/36 |
|
NR/NR |
|
|
3,101,150 |
|
|
|
|
|
Montgomery Cnty. Higher Education & Health Auth. Hospital Rev., Abington Memorial Hospital, Ser. A, |
|
|
|
|
|
|
|
|
5,000 |
|
5.125%, 6/1/27 |
|
NR/A |
|
|
4,972,950 |
|
|
|
3,750 |
|
5.125%, 6/1/32 |
|
NR/A |
|
|
3,681,412 |
|
10 PIMCO Municipal Income Funds II Annual Report | 5.31.08
|
PIMCO Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
Credit Rating |
|
Value |
| ||
|
|
|
|
Pennsylvania—(continued) |
|
|
|
|
|
|
|
$ |
500 |
|
Pittsburgh & Allegheny Cntys. Public Auditorium Auth. Rev., 5.00%, 2/1/29 (AMBAC) |
|
Aaa/AAA |
|
$ |
503,830 |
|
|
|
|
|
|
|
|
|
|
46,489,555 |
|
|
|
|
|
Puerto Rico—0.3% |
|
|
|
|
|
|
|
|
3,320 |
|
Electric Power Auth. Power Rev., 5.125%, 7/1/29, Ser. HH, (Pre-refunded @ $100, 7/1/13) (b) |
|
A3/AAA |
|
|
3,649,742 |
|
|
|
|
|
Rhode Island—5.0% |
|
|
|
|
|
|
|
|
76,200 |
|
Tobacco Settlement Financing Corp. Rev., 6.25%, 6/1/42, Ser. A |
|
Baa3/BBB |
|
|
72,111,870 |
|
|
|
|
|
South Carolina—5.5% |
|
|
|
|
|
|
|
|
27,745 |
|
Greenville Cnty. School Dist. Rev., Building Equity Sooner Tomorrow, 5.50%, 12/1/28, (Pre-refunded @ $101, 12/1/12) (b) |
|
Aaa/AA- |
|
|
30,919,305 |
|
|
|
|
|
Jobs-Economic Dev. Auth. Rev., Bon Secours, |
|
|
|
|
|
|
|
|
14,350 |
|
5.625%, 11/15/30 |
|
A3/A- |
|
|
14,520,765 |
|
|
|
3,770 |
|
5.625%, 11/15/30, (Pre-refunded @ $100, 11/15/12) (b) |
|
A3/A- |
|
|
4,167,509 |
|
|
|
|
|
Lexington Cnty. Health Services Dist. Hospital Rev. (b), |
|
|
|
|
|
|
|
|
15,000 |
|
5.50%, 11/1/32, (Pre-refunded @ $100, 11/1/13) |
|
A2/A+ |
|
|
16,621,800 |
|
|
|
3,500 |
|
5.50%, 5/1/37, (Pre-refunded @ $100, 5/1/14) |
|
A2/A+ |
|
|
3,882,410 |
|
|
|
5,000 |
|
5.75%, 11/1/28, (Pre-refunded @ $100, 11/1/13) |
|
A2/A+ |
|
|
5,602,050 |
|
|
|
3,250 |
|
Tobacco Settlement Rev. Management Auth. Rev., 6.375%, 5/15/28, Ser. B |
|
Baa3/BBB |
|
|
3,258,255 |
|
|
|
|
|
|
|
|
|
|
78,972,094 |
|
|
|
|
|
Tennessee—0.5% |
|
|
|
|
|
|
|
|
3,000 |
|
Energy Acquisition Corp. Rev., 5.00%, 2/1/23, Ser. C |
|
Aa3/AA- |
|
|
2,863,200 |
|
|
|
3,750 |
|
Knox Cnty. Health Educational & Housing Facs. Board Rev., 5.25%, 10/1/30 |
|
A1/AA- |
|
|
3,752,587 |
|
|
|
500 |
|
Sullivan Cnty. Health Educational & Housing Facs. Rev., 5.25%, 9/1/36, Ser. C |
|
NR/BBB+ |
|
|
470,555 |
|
|
|
|
|
|
|
|
|
|
7,086,342 |
|
|
|
|
|
Texas—7.0% |
|
|
|
|
|
|
|
|
10 |
|
Arlington Independent School Dist., GO, 5.00%, 2/15/24 (PSF-GTD) |
|
Aaa/NR |
|
|
10,052 |
|
|
|
|
|
Aubrey Independent School Dist., GO (PSF-GTD), |
|
|
|
|
|
|
|
|
130 |
|
5.50%, 2/15/33 |
|
Aaa/NR |
|
|
138,691 |
|
|
|
4,350 |
|
5.50%, 2/15/33, (Pre-refunded @ $100, 8/15/14) (b) |
|
Aaa/NR |
|
|
4,910,759 |
|
|
|
17,500 |
|
Austin Trust, GO, 4.75%, 4/1/36 (h) |
|
Aa1/AA |
|
|
17,472,000 |
|
|
|
6,500 |
|
Brazos Cnty. Health Facs. Dev. Corp. Rev., Franciscan Services Corp., 5.375%, 1/1/32 |
|
NR/A- |
|
|
6,501,235 |
|
|
|
2,700 |
|
Comal Cnty. Health Facs. Dev. Rev., McKenna Memorial Hospital Project, 6.25%, 2/1/32, (Pre-refunded @ $100, 2/1/13) (b) |
|
Baa2/AAA |
|
|
3,066,147 |
|
|
|
20,000 |
|
Frisco Independent School Dist., GO, zero coupon, 8/15/34 (PSF-GTD) |
|
Aaa/NR |
|
|
5,015,800 |
|
|
|
5,250 |
|
Harris Cnty. Health Facs. Dev. Corp. Rev., St. Luke’s Episcopal Hospital, 5.375%, 2/15/26, Ser. A, (Pre-refunded @ $100, 8/15/11) (b) |
|
NR/AAA |
|
|
5,657,138 |
|
|
|
700 |
|
HFDC of Central Texas, Inc. Rev., Village at Gleannloch Farms, 5.50%, 2/15/37, Ser. A |
|
NR/NR |
|
|
575,183 |
|
|
|
|
|
Keller Independent School Dist., GO (PSF-GTD), |
|
|
|
|
|
|
|
|
770 |
|
4.875%, 8/15/31 |
|
Aaa/AAA |
|
|
772,479 |
|
|
|
6,730 |
|
4.875%, 8/15/31, (Pre-refunded @ $100, 8/15/09) (b) |
|
Aaa/AAA |
|
|
6,951,888 |
|
5.31.08 | PIMCO Municipal Income Funds II Annual Report 11
|
PIMCO Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
Credit Rating |
|
Value |
| ||
|
|
|
|
Texas—(continued) |
|
|
|
|
|
|
|
$ |
3,170 |
|
Little Elm Independent School Dist., GO, 5.30%, 8/15/29, Ser. A (PSF-GTD) |
|
NR/AAA |
|
$ |
3,304,028 |
|
|
|
6,250 |
|
North Dallas Thruway Auth. Rev., 4.75%, 1/1/29 (FGIC) |
|
A2/A- |
|
|
6,253,312 |
|
|
|
5,000 |
|
North Texas Tollway Auth. Rev., 5.625%, 1/1/33, Ser. B |
|
A2/A- |
|
|
5,120,550 |
|
|
|
2,000 |
|
Sabine River Auth. Rev., 5.20%, 5/1/28 |
|
NR/CCC |
|
|
1,533,240 |
|
|
|
10,025 |
|
State, GO, 4.75%, 4/1/35, Ser. A (h) |
|
Aa1/AA |
|
|
10,030,112 |
|
|
|
1,000 |
|
State Public Finance Auth. Rev., 5.875%, 12/1/36, Ser. A |
|
Baa3/BBB- |
|
|
950,380 |
|
|
|
10,000 |
|
State Turnpike Auth. Central Turnpike System Rev., Ser. A (AMBAC), |
|
|
|
|
|
|
|
|
|
|
zero coupon, 8/15/19 |
|
Aaa/AAA |
|
|
5,746,100 |
|
|
|
8,880 |
|
5.00%, 8/15/42 |
|
Aaa/AAA |
|
|
8,836,044 |
|
|
|
3,250 |
|
State Water Financial Assistance, GO, 5.00%, 8/1/36 |
|
Aa1/AA |
|
|
3,289,910 |
|
|
|
4,150 |
|
Willacy Cnty. Rev., 6.875%, 9/1/28, Ser. A-1 |
|
NR/NR |
|
|
4,136,844 |
|
|
|
|
|
|
|
|
|
|
100,271,892 |
|
|
|
|
|
Utah—3.3% |
|
|
|
|
|
|
|
|
44,150 |
|
Utah Transit Auth. Rev., |
|
|
|
|
|
|
|
|
|
|
4.75%, 6/15/35, Ser. B, (Pre-refunded @ $100, 12/15/15) (FSA)(b)(h) |
|
Aaa/AAA |
|
|
48,264,338 |
|
|
|
|
|
Virginia—0.6% |
|
|
|
|
|
|
|
|
|
|
Fredericksburg Industrial Dev. Auth., Medicorp Health System Rev., Ser. B, |
|
|
|
|
|
|
|
|
2,500 |
|
5.125%, 6/15/33 |
|
A3/NR |
|
|
2,456,700 |
|
|
|
4,000 |
|
5.25%, 6/15/27 |
|
A3/NR |
|
|
4,017,200 |
|
|
|
2,050 |
|
James City Cnty. Economic Dev. Auth. Rev., 5.50%, 7/1/37, Ser. A |
|
NR/NR |
|
|
1,755,272 |
|
|
|
|
|
|
|
|
|
|
8,229,172 |
|
|
|
|
|
Washington—1.3% |
|
|
|
|
|
|
|
|
13,000 |
|
Health Care Facs. Auth. Rev., Virginia Mason Medical Center, 6.125%, 8/15/37, Ser. A |
|
Baa2/BBB |
|
|
12,676,170 |
|
|
|
6,800 |
|
State Housing Finance Commission Rev., Skyline at First Hill, 5.625%, 1/1/38, Ser. A |
|
NR/NR |
|
|
5,841,540 |
|
|
|
|
|
|
|
|
|
|
18,517,710 |
|
|
|
|
|
Wisconsin—0.6% |
|
|
|
|
|
|
|
|
|
|
Badger Tobacco Asset Securitization Corp. Rev., |
|
|
|
|
|
|
|
|
1,125 |
|
6.00%, 6/1/17 |
|
Baa3/BBB |
|
|
1,126,969 |
|
|
|
7,150 |
|
6.125%, 6/1/27 |
|
Baa3/BBB |
|
|
7,122,187 |
|
|
|
|
|
Health & Educational Facs. Auth. Rev., Froedert & Community Health Oblig., |
|
|
|
|
|
|
|
|
90 |
|
5.375%, 10/1/30 |
|
NR/AA- |
|
|
91,256 |
|
|
|
910 |
|
5.375%, 10/1/30, (Pre-refunded @ $101, 10/1/11) (b) |
|
NR/AA- |
|
|
991,554 |
|
|
|
|
|
|
|
|
|
|
9,331,966 |
|
|
|
|
|
Total Municipal Bonds & Notes (cost—$1,342,078,367) |
|
|
|
|
1,385,723,946 |
|
|
|
|
|
|
|
|
|
|
|
|
|
VARIABLE RATE NOTES (f)—4.0% |
|
|
|
|
|
| |||
|
|
|
|
Alabama—0.5% |
|
|
|
|
|
|
|
|
4,450 |
|
Jefferson Cnty. Sewer Rev., 18.63%, 2/1/36, Ser. 352 (FGIC)(a)(c)(e) |
|
Aaa/NR |
|
|
5,089,954 |
|
|
|
1,400 |
|
Montgomery Special Care Facs. Financing Auth. Rev., 17.44%, 11/15/29, Ser. 435 (MBIA)(a)(c)(e) |
|
Aaa/NR |
|
|
1,486,100 |
|
|
|
|
|
|
|
|
|
|
6,576,054 |
|
12 PIMCO Municipal Income Funds II Annual Report | 5.31.08
|
PIMCO Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
Credit Rating |
|
Value |
| ||
|
|
|
|
Colorado—0.2% |
|
|
|
|
|
|
|
$ |
2,250 |
|
Denver City & Cnty. Airport Rev., 17.44%, 11/15/25, Ser. 425 (FSA)(a)(c)(e) |
|
Aaa/NR |
|
$ |
2,387,813 |
|
|
|
|
|
Florida—0.4% |
|
|
|
|
|
|
|
|
2,830 |
|
Highlands Cnty. Health Facs. Auth. Rev., Adventist Health System, 5.00%, 11/15/31, Ser. C |
|
A1/A+ |
|
|
2,731,431 |
|
|
|
1,782 |
|
Orange Cnty. School Board, CP, 17.45%, 8/1/24, Ser. 328 (MBIA)(a)(c)(e) |
|
Aaa/NR |
|
|
2,166,021 |
|
|
|
|
|
|
|
|
|
|
4,897,452 |
|
|
|
|
|
Illinois—0.6% |
|
|
|
|
|
|
|
|
|
|
Chicago, GO (a)(c)(e), |
|
|
|
|
|
|
|
|
1,780 |
|
18.07%, 1/1/28, Ser. 332 (MBIA) |
|
Aaa/NR |
|
|
2,126,121 |
|
|
|
2,200 |
|
19.94%, 1/1/40, Ser. 426 (FGIC) |
|
Aa3/NR |
|
|
2,573,010 |
|
|
|
1,288 |
|
Cook Cnty., GO, 15.65%, 11/15/28, Ser. 403 (FGIC)(a)(c)(e) |
|
Aa2/NR |
|
|
1,364,636 |
|
|
|
2,000 |
|
State, GO, 18.70%, 4/1/27, Ser. 783 (FSA)(a)(c)(e) |
|
Aaa/NR |
|
|
2,370,400 |
|
|
|
|
|
|
|
|
|
|
8,434,167 |
|
|
|
|
|
Massachusetts—1.0% |
|
|
|
|
|
|
|
|
1,400 |
|
Boston Water & Sewer Community Rev., |
|
|
|
|
|
|
|
|
|
|
15.68%, 11/1/28, Ser. 434 (FGIC)(a)(c)(e) |
|
Aa2/NR |
|
|
1,450,750 |
|
|
|
2,200 |
|
State, GO, 18.74%, 11/1/30, Ser. 785 (FGIC-TRS)(a)(c)(e) |
|
Aa2/NR |
|
|
3,134,120 |
|
|
|
|
|
State Turnpike Auth. Rev. (MBIA)(a)(c)(e), |
|
|
|
|
|
|
|
|
7,366 |
|
0.12%, 1/1/37, Ser. 334 |
|
Aaa/NR |
|
|
7,437,082 |
|
|
|
3,000 |
|
0.12%, 1/1/37, Ser. 489 |
|
NR/AAA |
|
|
3,028,950 |
|
|
|
|
|
|
|
|
|
|
15,050,902 |
|
|
|
|
|
Nevada—0.0% |
|
|
|
|
|
|
|
|
325 |
|
State, GO, 15.60%, 5/15/28, Ser. 344 (FGIC)(a)(c)(e) |
|
Aa1/NR |
|
|
330,168 |
|
|
|
|
|
Ohio—0.1% |
|
|
|
|
|
|
|
|
1,580 |
|
Hamilton Cnty. Sales Tax Rev., 17.44%, 12/1/27, Ser. 356 (MBIA)(a)(c)(e) |
|
Aaa/NR |
|
|
1,659,000 |
|
|
|
|
|
Pennsylvania—0.3% |
|
|
|
|
|
|
|
|
|
|
Philadelphia School Dist., GO (MBIA)(a)(c)(e) |
|
|
|
|
|
|
|
|
1,670 |
|
16.20%, 4/1/27, Ser. 345 |
|
Aaa/NR |
|
|
1,872,738 |
|
|
|
2,677 |
|
16.20%, 4/1/27, Ser. 496 |
|
NR/AAA |
|
|
3,001,988 |
|
|
|
|
|
|
|
|
|
|
4,874,726 |
|
|
|
|
|
Texas—0.7% |
|
|
|
|
|
|
|
|
2,460 |
|
Denton Utility System Rev., 18.07%, 12/1/29, Ser. 428 (MBIA)(a)(c)(e) |
|
Aaa/NR |
|
|
2,662,335 |
|
|
|
1,100 |
|
Houston Airport System Rev., 0.12%, 7/1/25, Ser. 404 (FGIC)(a)(c)(e) |
|
A1/NR |
|
|
1,100,880 |
|
|
|
|
|
Houston Water & Sewer System Rev. (a)(c)(e), |
|
|
|
|
|
|
|
|
2,200 |
|
17.44%, 12/1/28, Ser. 427 (FSA) |
|
Aaa/NR |
|
|
2,662,770 |
|
|
|
3,070 |
|
18.70%, 12/1/30, Ser. 495 (FGIC) |
|
NR/NR |
|
|
4,110,423 |
|
|
|
|
|
|
|
|
|
|
10,536,408 |
|
|
|
|
|
Washington—0.2% |
|
|
|
|
|
|
|
|
2,275 |
|
Central Puget Sound Regional Transit Auth. Sales Tax & Motor Rev., 11.98%, 2/1/28, Ser. 360 (FGIC)(a)(c)(e) |
|
Aa2/NR |
|
|
2,285,738 |
|
|
|
|
|
Total Variable Rate Notes (cost—$49,478,598) |
|
|
|
|
57,032,428 |
|
5.31.08 | PIMCO Municipal Income Funds II Annual Report 13
|
PIMCO Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
|
|
Value |
| ||
|
U.S. TREASURY BILLS (g)—0.0% |
|
|
|
|
|
| |||
|
$ |
175 |
|
1.42%, 6/12/08 (cost—$174,923) |
|
|
|
$ |
174,923 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments (cost—$1,391,731,888)—100.0% |
|
|
|
$ |
1,442,931,297 |
|
14 PIMCO Municipal Income Funds II Annual Report | 5.31.08
|
PIMCO California Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
Credit Rating |
|
Value |
| ||
|
CALIFORNIA MUNICIPAL BONDS & NOTES—95.5% |
|
|
|
|
|
| |||
|
$ |
2,000 |
|
ABC Unified School Dist., GO, zero coupon, 8/1/23, Ser. B (FGIC) |
|
A1/A+ |
|
$ |
918,500 |
|
|
|
1,000 |
|
Alpine Union School Dist., GO, zero coupon, 8/1/24, Ser. B (FSA) |
|
Aaa/AAA |
|
|
494,970 |
|
|
|
8,115 |
|
Anaheim City School Dist., GO, 5.00%, 8/1/26, (Pre-refunded @ $101, 8/1/11) (FGIC) (b) |
|
Baa3/A |
|
|
8,771,260 |
|
|
|
|
|
Assoc. of Bay Area Gov’t Finance Auth. Rev., Odd Fellows Home, |
|
|
|
|
|
|
|
|
5,300 |
|
5.20%, 11/15/22 |
|
NR/A+ |
|
|
5,432,871 |
|
|
|
26,000 |
|
5.35%, 11/15/32 |
|
NR/A+ |
|
|
26,440,960 |
|
|
|
23,000 |
|
Bakersfield, CP, zero coupon, 4/15/21 |
|
NR/AAA |
|
|
12,652,990 |
|
|
|
2,000 |
|
Bay Area Gov’t Assoc., Lease Rev., 5.00%, 7/1/32, Ser. 2002-1, (AMBAC) |
|
Aaa/AAA |
|
|
2,030,260 |
|
|
|
1,945 |
|
Windmere Ranch Dist., Special Assessment, |
|
|
|
|
|
|
|
|
|
|
6.30%, 9/2/25, (Pre-refunded @ $102, 9/2/11) (b) |
|
NR/AAA |
|
|
2,205,163 |
|
|
|
1,085 |
|
Capistrano Unified School Dist., |
|
|
|
|
|
|
|
|
|
|
Special Tax, 5.70%, 9/1/20, (Pre-refunded @ $102, 9/1/09) (b) |
|
NR/NR |
|
|
1,154,147 |
|
|
|
2,300 |
|
Ceres Unified School Dist., GO, zero coupon, 8/1/27 (FGIC) |
|
Baa3/A |
|
|
762,611 |
|
|
|
1,160 |
|
Chula Vista Dist., Special Tax, |
|
|
|
|
|
|
|
|
|
|
6.05%, 9/1/25, (Pre-refunded @ $102, 9/1/10) (b) |
|
NR/NR |
|
|
1,276,499 |
|
|
|
2,500 |
|
6.10%, 9/1/32, (Pre-refunded @ $102, 9/1/10) (b) |
|
Aa1/NR |
|
|
2,753,800 |
|
|
|
|
|
Eastlake Woods, |
|
|
|
|
|
|
|
|
1,825 |
|
6.15%, 9/1/26 |
|
NR/NR |
|
|
1,831,351 |
|
|
|
4,380 |
|
6.20%, 9/1/33 |
|
NR/NR |
|
|
4,381,402 |
|
|
|
2,980 |
|
Otay Ranch Villiage, 5.125%, 9/1/36 |
|
NR/NR |
|
|
2,534,162 |
|
|
|
|
|
Clovis Unified School Dist., GO, Ser. B (FGIC) |
|
|
|
|
|
|
|
|
2,000 |
|
zero coupon, 8/1/23 |
|
Baa3/AA |
|
|
911,740 |
|
|
|
3,535 |
|
zero coupon, 8/1/25 |
|
Baa3/AA |
|
|
1,428,741 |
|
|
|
2,500 |
|
zero coupon, 8/1/27 |
|
Baa3/AA |
|
|
892,375 |
|
|
|
1,410 |
|
Community College Financing Auth. Lease Rev., |
|
|
|
|
|
|
|
|
|
|
5.00%, 8/1/27, Ser. A (AMBAC) |
|
Aaa/AAA |
|
|
1,445,969 |
|
|
|
10,000 |
|
Coronado Community Dev. Agcy., |
|
|
|
|
|
|
|
|
|
|
Tax Allocation, 4.875%, 9/1/35 (AMBAC) (h) |
|
NR/NR |
|
|
9,741,800 |
|
|
|
|
|
Corona-Norco Unified School Dist. Public Financing Auth., Special Tax, |
|
|
|
|
|
|
|
|
1,110 |
|
5.10%, 9/1/25 (AMBAC) |
|
Aaa/AAA |
|
|
1,131,512 |
|
|
|
210 |
|
5.55%, 9/1/15, Ser. A |
|
NR/NR |
|
|
205,819 |
|
|
|
305 |
|
5.65%, 9/1/16, Ser. A |
|
NR/NR |
|
|
299,659 |
|
|
|
160 |
|
5.75%, 9/1/17, Ser. A |
|
NR/NR |
|
|
157,398 |
|
|
|
530 |
|
6.00%, 9/1/20, Ser. A |
|
NR/NR |
|
|
523,174 |
|
|
|
1,000 |
|
6.00%, 9/1/25, Ser. A |
|
NR/NR |
|
|
981,690 |
|
|
|
4,150 |
|
6.10%, 9/1/32, Ser. A |
|
NR/NR |
|
|
4,017,034 |
|
|
|
3,000 |
|
Dinuba Financing Auth. Lease Rev., 5.10%, 8/1/32 (MBIA) |
|
Aaa/AAA |
|
|
3,126,810 |
|
|
|
3,475 |
|
Educational Facs. Auth. Rev., Loyola Marymount Univ., zero coupon, 10/1/34 (MBIA) |
|
Aaa/NR |
|
|
867,847 |
|
|
|
2,000 |
|
Educational Facs. Auth. Rev., Woodbury Univ., 5.00%, 1/1/36 |
|
Baa3/BBB- |
|
|
1,761,140 |
|
|
|
|
|
Empire Union School Dist., Special Tax (AMBAC), |
|
|
|
|
|
|
|
|
1,560 |
|
zero coupon, 10/1/30 |
|
Aaa/AAA |
|
|
465,598 |
|
|
|
1,265 |
|
zero coupon, 10/1/32 |
|
Aaa/AAA |
|
|
336,389 |
|
|
|
1,000 |
|
Escondido Union School Dist., GO, zero coupon, 8/1/27 (FSA) |
|
Aaa/AAA |
|
|
377,510 |
|
|
|
2,440 |
|
Eureka Union School Dist., GO, zero coupon, 8/1/27 (FSA) |
|
Aaa/AAA |
|
|
921,124 |
|
5.31.08 | PIMCO Municipal Income Funds II Annual Report 15
|
PIMCO California Municipal Income Fund II Schedule of Investments |
|
May 31, 2008 |
|
Principal |
|
|
|
Credit Rating |
|
Value |
| ||
|
|
|
|
Foothill Eastern Corridor Agcy. Toll Road Rev., |
|
|
|
|
|
|
|
$ |
7,100 |
|
zero coupon, 1/1/25, Ser. A |
|
Aaa/AAA |
|
$ |
3,260,817 |
|
|
|
3,270 |
|
zero coupon, 1/1/26, Ser. A |
|
Aaa/AAA |
|
|
1,425,589 |
|
|
|
1,500 |
|
zero coupon, 1/15/27 (MBIA-IBC) |
|
Aaa/AAA |
|
|
1,488,045 |
|
|
|
3,780 |
|
zero coupon, 1/1/28, Ser. A |
|
Aaa/AAA |
|
|
1,468,190 |
|
|
|
17,860 |
|
zero coupon, 1/1/30, Ser. A |
|
Aaa/AAA |
|
|
6,115,085 |
|
|
|
400 |
|
Franklin-McKinley School Dist., GO, 5.00%, 8/1/27, Ser. B, (Pre-refunded @ $100, 8/1/13) (FSA) (b) |
|
Aaa/AAA |
|
|
438,956 |
|
|
|
1,440 |
|
|||||||