OMB APPROVAL | ||
OMB Number: 3235-0578
|
||
Expires: April 30, 2010 |
||
Estimated average burden hours per response: 10.5 |
||
Investment Company Act File Number:
|
811-10377 | |
Registrant Name:
|
PIMCO Municipal Income Fund | |
Address of Principal Executive Offices:
|
1345 Avenue of the Americas, | |
New York, NY 10105 | ||
Name and Address of Agent for Service:
|
Lawrence G. Altadonna | |
1345 Avenue of the Americas, | ||
New York, NY 10105 | ||
Registrants telephone number, including area code:
|
212-739-3371 | |
Date of Fiscal Year End:
|
April 30, 2009 | |
Date of Reporting Period:
|
January 31, 2009 |
Principal | ||||||||||
Amount | Credit Rating | |||||||||
(000) | (Moodys/S&P) | Value* | ||||||||
MUNICIPAL BONDS & NOTES89.3% | ||||||||||
Alabama2.7% |
||||||||||
$ | 2,500 | Birmingham
Baptist Medical Centers Special Care Facs. Financing Auth. Rev., 5.875%, 11/15/24, Ser. A |
Baa1/NR | $ | 1,829,475 | |||||
8,000 | Huntsville Health Care Auth. Rev.,
|
|||||||||
5.75%, 6/1/31, Ser. A, (Pre-refunded @ $101, 6/1/11) (c) |
A2/NR | 8,835,520 | ||||||||
Huntsville-Redstone Village Special Care Facs. Financing Auth. Rev., |
||||||||||
250 | 5.50%, 1/1/28 |
NR/NR | 165,000 | |||||||
885 | 5.50%, 1/1/43 |
NR/NR | 522,672 | |||||||
1,350 | Montgomery Medical Clinic Board
Jackson Hospital & Clinic, Rev., 5.25%, 3/1/31 |
Baa2/BBB- | 928,017 | |||||||
12,280,684 | ||||||||||
Alaska1.9% |
||||||||||
3,280 | Boro of Matanuska-Susitna Rev.,
|
|||||||||
Goose Creek Correctional Center,
6.00%, 9/1/32 |
Aa2/NR | 3,431,438 | ||||||||
900 | Industrial Dev. & Export Auth. Boys & Girls
Home Rev., |
|||||||||
6.00%, 12/1/36 |
NR/NR | 529,290 | ||||||||
Northern Tobacco Securitization Corp. Rev., |
||||||||||
2,400 | 5.00%, 6/1/46, Ser. A |
Baa3/NR | 1,257,288 | |||||||
3,000 | 5.50%, 6/1/29, (Pre-refunded @ $100, 6/1/11) (c) |
Aaa/AAA | 3,281,790 | |||||||
8,499,806 | ||||||||||
Arizona3.8% |
||||||||||
5,000 | Apache Cnty. Industrial Dev. Auth. Pollution Control Rev.,
|
|||||||||
Tucson Electric Power Co., 5.875%, 3/1/33 |
Baa3/BBB- | 3,842,100 | ||||||||
Health Facs. Auth. Rev., |
||||||||||
600 | Banner Health, 5.50%, 1/1/38, Ser. D |
NR/AA- | 563,676 | |||||||
2,750 | Beatitudes Campus, 5.20%, 10/1/37 |
NR/NR | 1,616,257 | |||||||
4,150 | Pima Cnty. Industrial Dev. Auth. Rev.,
|
|||||||||
Tucson Electric Power, 6.375%, 9/1/29, Ser. A |
Baa3/BBB- | 3,478,198 | ||||||||
5,000 | Salt River
Project Agricultural Improvement & Power District Rev., 5.00%, 1/1/39, Ser. A (l) |
Aa1/AA | 4,856,250 | |||||||
4,200 | Salt Verde Financial Corp. Rev., 5.00%, 12/1/37 |
A2/AA- | 2,687,874 | |||||||
17,044,355 | ||||||||||
Arkansas0.4% |
||||||||||
8,500 | Arkansas Dev. Finance Auth. Rev.,
zero coupon, 7/1/36, (AMBAC) |
Aa3/NR | 1,797,325 | |||||||
California6.5% |
||||||||||
Golden State Tobacco Securitization Corp. Rev., Ser. A-1 |
||||||||||
6,000 | 5.00%, 6/1/33 |
Baa3/BBB | 3,693,360 | |||||||
10,000 | 6.75%, 6/1/39, (Pre-refunded @ $100, 6/1/13) (c) |
NR/AAA | 11,921,700 | |||||||
300 | State, GO, 5.00%, 6/1/37 |
A1/A+ | 266,742 | |||||||
Statewide Community Dev. Auth. Rev., |
||||||||||
1,000 | Catholic Healthcare West, 5.50%, 7/1/31, Ser. E |
A2/A | 892,770 | |||||||
Methodist Hospital (FHA)(e), |
||||||||||
2,600 | 6.625%, 8/1/29 |
Aa2/AA | 2,666,144 | |||||||
9,500 | 6.75%, 2/1/38 |
Aa2/AA | 9,736,645 | |||||||
29,177,361 | ||||||||||
Colorado3.3% |
||||||||||
500 | Confluence Metropolitan Dist. Rev., 5.45%, 12/1/34 |
NR/NR | 290,730 | |||||||
1,000 | Denver Health & Hospital Auth. Healthcare Rev.,
6.00%, 12/1/23, Ser. A, |
|||||||||
(Pre-refunded @ $100, 12/1/11) (c) |
NR/NR | 1,120,150 |
Principal | ||||||||||
Amount | Credit Rating | |||||||||
(000) | (Moodys/S&P) | Value* | ||||||||
Colorado (continued) |
||||||||||
$ | 12,400 | Health Facs. Auth. Rev., Liberty Heights, zero coupon, 7/15/24 |
Aaa/AAA | $ | 5,995,524 | |||||
4,940 | Northwest
Parkway Public Highway Auth. Rev., 7.125%, 6/15/41, Ser. D, (Pre-refunded @ $102, 6/15/11) (c) |
NR/NR | 5,354,515 | |||||||
500 | Public Auth. for Colorado Energy Rev., 6.50%, 11/15/38 |
A2/A+ | 412,955 | |||||||
1,500 | Univ. of Colorado Rev., 5.375%, 6/1/38, Ser. A |
Aa3/AA- | 1,521,855 | |||||||
14,695,729 | ||||||||||
Connecticut0.2% |
||||||||||
1,000 | State Dev. Auth. Pollution Control Rev.,
5.85%, 9/1/28 |
Baa1/BBB | 913,070 | |||||||
District of Columbia1.4% |
||||||||||
2,500 | Dist. of Columbia Rev., Brookings Institution, 5.75%, 10/1/39 (e) |
NR/NR | 2,481,950 | |||||||
4,600 | Tobacco Settlement Financing Corp. Rev., 6.25%, 5/15/24 |
Baa3/BBB | 3,855,306 | |||||||
6,337,256 | ||||||||||
Florida2.8% |
||||||||||
905 | Beacon Lakes
Community Dev. Dist., Special Assessment, 6.00%, 5/1/38, Ser. A |
NR/NR | 532,276 | |||||||
3,900 | Board of
Education, GO, 5.00%, 6/1/38, Ser. D (e)(l) |
Aa1/AAA | 3,743,376 | |||||||
1,750 | Highlands Cnty. Health Facs. Auth. Rev.,
Adventist/Sunbelt Health System, 6.00%, 11/15/31, Ser. A, (Pre-refunded @ $101, 11/15/11) (c) |
NR/NR | 1,973,755 | |||||||
500 | Lee Cnty. Industrial Dev. Auth. Rev., 5.375%, 6/15/37, Ser. A |
NR/BB | 278,335 | |||||||
5,685 | State Board of Governors Rev., Florida Univ., 6.50%, 7/1/33 |
Aa2/AA | 5,965,157 | |||||||
12,492,899 | ||||||||||
Georgia0.3% |
||||||||||
2,300 | Medical Center Hospital Auth. Rev., 5.25%, 7/1/37 |
NR/NR | 1,353,228 | |||||||
Hawaii1.6% |
||||||||||
6,935 | City & Cnty. of Honolulu Sewer Rev., 5.00%, 7/1/23, (MBIA-FGIC) |
A1/AA | 6,974,946 | |||||||
Illinois8.0% |
||||||||||
Chicago, GO, |
||||||||||
5,000 | 5.00%,
1/1/34, Ser. C (l) |
Aa3/AA- | 4,767,050 | |||||||
2,935 | 5.375%, 1/1/34, Ser. A (FGIC) |
Aa3/AA- | 2,865,969 | |||||||
10,115 | Chicago Board of Education School Reform, GO,
zero coupon, 12/1/31, Ser. A (MBIA-FGIC) |
A1/AA | 2,282,146 | |||||||
Educational Facs. Auth. Rev., Univ. of Chicago, |
||||||||||
190 | 5.25%, 7/1/41 |
Aa1/AA | 189,111 | |||||||
80 | 5.25%, 7/1/41, (Pre-refunded @ $101, 7/1/11) (c) |
Aa1/AA | 88,587 | |||||||
Finance Auth. Rev., |
||||||||||
Adventist Health System, (Pre-refunded @ $101, 11/15/09)(c), |
||||||||||
5,000 | 5.50%, 11/15/29 |
NR/NR | 5,243,450 | |||||||
1,260 | 5.65%, 11/15/24 |
NR/NR | 1,322,824 | |||||||
10,000 | Univ. of
Chicago, 5.50%, 7/1/37, Ser. B (l) |
Aa1/AA | 10,094,500 | |||||||
5,345 | Regional Transportation Auth. Rev.,
5.50%, 6/1/23, Ser. B (MBIA-FGIC) |
Aa2/AA+ | 5,880,729 | |||||||
1,900 | Springfield Power Rev., 5.00%, 3/1/36 |
Aa3/AA- | 1,676,921 | |||||||
1,495 | Univ. Rev., 5.25%, 4/1/32, (FGIC) |
Aa3/AA- | 1,495,493 | |||||||
35,906,780 | ||||||||||
Iowa1.6% |
||||||||||
4,890 | Finance
Auth. Rev., Deerfield Retirement Community, Inc., 5.50%, 11/15/37 |
NR/NR | 2,712,434 |
Principal | ||||||||||
Amount | Credit Rating | |||||||||
(000) | (Moodys/S&P) | Value* | ||||||||
Iowa (continued) |
||||||||||
Edgewater LLC, |
||||||||||
$ | 3,500 | 6.75%, 11/15/37 |
NR/NR | $ | 2,496,970 | |||||
1,500 | 6.75%, 11/15/42 |
NR/NR | 1,053,450 | |||||||
2,000 | Wedum Walnut
Ridge LLC, 5.625%, 12/1/45, Ser. A |
NR/NR | 1,124,500 | |||||||
7,387,354 | ||||||||||
Kansas4.5% |
||||||||||
1,000 | Lenexa, City Center East, Tax Allocation, 6.00%, 4/1/27 |
NR/NR | 697,750 | |||||||
650 | Manhattan Rev., Meadowlark Hills Retirement, 5.125%, 5/15/42, Ser. B |
NR/NR | 370,630 | |||||||
Wichita Hospital Rev., |
||||||||||
5,000 | 5.625%, 11/15/31, Ser. III |
NR/A+ | 4,560,500 | |||||||
14,370 | 6.25%, 11/15/24, Ser. XI |
NR/A+ | 14,547,038 | |||||||
20,175,918 | ||||||||||
Kentucky0.2% |
||||||||||
810 | Economic
Dev. Finance Auth. Rev., St. Lukes Hospital, 6.00%, 10/1/19, Ser. B |
A3/A | 809,960 | |||||||
Louisiana4.8% |
||||||||||
4,300 | Local Govt Environmental Facs. &
Community Dev. Auth. Rev., 6.55%, 9/1/25 (ACA) |
NR/NR | 3,473,540 | |||||||
27,895 | Tobacco Settlement Financing Corp. Rev., 5.875%, 5/15/39, Ser. B |
Baa3/BBB | 17,967,169 | |||||||
21,440,709 | ||||||||||
Massachusetts0.4% |
||||||||||
550 | Dev. Finance Agcy. Rev., Linden Ponds, 5.75%, 11/15/35, Ser. A |
NR/NR | 304,029 | |||||||
1,500 | State College Building Auth. Rev., 5.50%, 5/1/39, Ser. A |
A1/A+ | 1,456,845 | |||||||
1,760,874 | ||||||||||
Michigan2.3% |
||||||||||
1,000 | Detroit, GO, 5.375%, 4/1/17, Ser. A-1 (MBIA) |
Baa1/AA | 1,004,710 | |||||||
4,550 | Garden City Hospital Finance Auth. Rev., 5.00%, 8/15/38, Ser. A |
NR/NR | 2,482,298 | |||||||
Royal Oak
Hospital Finance Auth. Rev., |
||||||||||
50 | William
Beaumont Hospital, 5.25%, 11/15/35, Ser. M (MBIA) |
A1/AA | 37,416 | |||||||
1,500 | 8.25%, 9/1/39 |
A1/A | 1,523,040 | |||||||
4,000 | State
Hospital Finance Auth. Rev., Detroit Medical Center, 6.25%, 8/15/13 |
Ba3/BB- | 3,726,680 | |||||||
2,000 | Strategic Fund Ltd. Obligation Rev.,
Detroit Edison Pollution Control Co., 5.45%, 9/1/29 |
A3/A- | 1,703,140 | |||||||
10,477,284 | ||||||||||
Minnesota0.1% |
||||||||||
95 | Agricultural & Economic Dev. Board Rev.,
Health Care System, 6.375%, 11/15/29 |
A2/A | 94,179 | |||||||
500 | Washington
Cnty. Housing & Redev. Auth. Rev., Birchwood & Woodbury, 5.625%, 6/1/37, Ser. A |
NR/NR | 322,585 | |||||||
416,764 | ||||||||||
Missouri0.1% |
||||||||||
1,000 | Joplin Industrial Dev. Auth. Rev., Christian Homes, Inc.,
5.75%, 5/15/26, Ser. F |
NR/NR | 673,730 | |||||||
Nevada3.5% |
||||||||||
5,000 | Clark Cnty., GO, 4.75%, 6/1/30, (FSA) |
Aa1/AAA | 4,188,200 | |||||||
12,185 | Washoe Cnty., GO, 5.00%, 1/1/35, (MBIA) |
Aa2/NR | 11,623,028 | |||||||
15,811,228 | ||||||||||
Principal | ||||||||||
Amount | Credit Rating | |||||||||
(000) | (Moodys/S&P) | Value* | ||||||||
New Hampshire0.7% |
||||||||||
$ | 3,000 | Business
Finance Auth. Pollution Control Rev., Conn. Light & Power Co., 5.85%, 12/1/22 |
Baa1/BBB- | $ | 2,930,310 | |||||
New Jersey4.6% |
||||||||||
2,000 | Economic Dev. Auth. Rev., 5.50%, 12/15/34, Ser. Z |
Aa2/AAA | 2,005,900 | |||||||
16,550 | Kapkowski Road Landfill, Special Assessment, 5.75%, 4/1/31 |
Baa3/NR | 12,822,940 | |||||||
1,000 | Health Care Facs. Financing Auth. Rev., Trinitas
Hospital, 5.25%, 7/1/30, Ser. A |
Baa3/BBB- | 689,340 | |||||||
9,100 | Tobacco Settlement Financing Corp. Rev., 5.00%, 6/1/41, Ser. 1A |
Baa3/BBB | 4,877,873 | |||||||
20,396,053 | ||||||||||
New Mexico0.5% |
||||||||||
2,500 | Farmington Pollution Control Rev., 5.80%, 4/1/22 |
Baa3/BB+ | 2,057,100 | |||||||
New York5.5% |
||||||||||
Liberty Dev. Corp. Rev., Goldman Sachs Headquarters, |
||||||||||
5,000 | 5.25%, 10/1/35 |
A1/A | 4,019,250 | |||||||
3,000 | 5.50%, 10/1/37 |
A1/AA- | 2,460,540 | |||||||
4,200 | Nassau Cnty.
Industrial Dev. Agcy. Rev., Amsterdam at Harborside, 6.70%, 1/1/43, Ser. A |
NR/NR | 3,082,464 | |||||||
New York
City Municipal Water Finance Auth. Rev. (l), |
||||||||||
13,000 | 5.00%,
6/15/26, Ser. 3245 |
Aa2/AAA | 13,068,250 | |||||||
670 | 5.00%,
6/15/37, Ser. 3240 |
Aa2/AAA | 644,044 | |||||||
1,625 | Westchester Cnty. Healthcare Corp. Rev., 5.875%, 11/1/25, Ser. A |
Baa3/BBB- | 1,319,484 | |||||||
24,594,032 | ||||||||||
North Carolina0.3% |
||||||||||
570 | Capital Facs. Finance Agcy. Rev., Duke Univ., 5.125%, 10/1/41, Ser. A |
Aa1/AA+ | 570,593 | |||||||
1,500 | Medical Care Commission Rev.,
Village at Brookwood, 5.25%, 1/1/32 |
NR/NR | 862,695 | |||||||
1,433,288 | ||||||||||
Ohio2.6% |
||||||||||
11,000 | Buckeye
Tobacco Settlement Financing Auth. Rev., 5.875%, 6/1/47, Ser. A-2 |
Baa3/BBB | 6,309,600 | |||||||
Lorain Cnty. Hospital Rev., Catholic Healthcare, |
||||||||||
2,500 | 5.625%, 10/1/17 |
A1/AA- | 2,584,150 | |||||||
2,565 | 5.75%, 10/1/18 |
A1/AA- | 2,663,188 | |||||||
11,556,938 | ||||||||||
Pennsylvania4.4% |
||||||||||
1,000 | Allegheny Cnty. Industrial Dev. Auth. Rev., 5.60%, 9/1/30 |
Baa1/BBB+ | 681,510 | |||||||
2,000 | Harrisburg Auth. Rev., 6.00%, 9/1/36 |
NR/NR | 1,513,080 | |||||||
6,200 | Higher Educational Facs. Auth. Rev., 6.00%, 1/15/31, Ser. A |
Aa3/AA- | 6,162,366 | |||||||
Lancaster Cnty. Hospital Auth. Rev., Brethren Village, Ser. A, |
||||||||||
750 | 6.25%, 7/1/26 |
NR/NR | 592,868 | |||||||
85 | 6.375%, 7/1/30 |
NR/NR | 65,341 | |||||||
4,700 | Philadelphia Hospitals & Higher Education
Facs. Auth. Rev., Temple Univ. Hospital, 6.625%, 11/15/23, Ser. A |
Baa3/BBB | 3,989,830 | |||||||
7,000 | Philadelphia, GO, 5.25%, 12/15/32, Ser. A (FSA) |
Aa3/AAA | 6,732,530 | |||||||
19,737,525 | ||||||||||
Principal | ||||||||||
Amount | Credit Rating | |||||||||
(000) | (Moodys/S&P) | Value* | ||||||||
Puerto Rico0.5% |
||||||||||
$ | 135 | Commonwealth
of Puerto Rico, GO, 5.00%, 7/1/35 |
Baa3/BBB- | $ | 104,823 | |||||
Sales Tax
Financing Corp. Rev., Ser. A, |
||||||||||
32,550 | zero coupon, 8/1/54 (AMBAC) |
A1/A+ | 1,204,350 | |||||||
29,200 | zero coupon, 8/1/56 |
A1/A+ | 852,932 | |||||||
2,162,105 | ||||||||||
Rhode Island3.6% |
||||||||||
23,800 | Tobacco Settlement Financing Corp. Rev., 6.25%, 6/1/42, Ser. A |
Baa3/BBB | 15,918,392 | |||||||
South Carolina1.3% |
||||||||||
Greenwood Cnty. Hospital Rev., Self Memorial Hospital, |
||||||||||
3,500 | 5.50%, 10/1/21 |
A2/A | 3,474,520 | |||||||
2,000 | 5.50%, 10/1/26 |
A2/A | 1,868,060 | |||||||
450 | Jobs Economic Dev. Auth. Rev., Lutheran Homes, 5.50%, 5/1/28 |
NR/NR | 295,398 | |||||||
5,637,978 | ||||||||||
Tennessee2.4% |
||||||||||
940 | Memphis Health Educational & Housing Fac. Rev., |
|||||||||
Wesley Housing Corp., 6.95%, 1/1/20 (a)(b)(f) |
NR/NR | 470,000 | ||||||||
State Energy Acquisition Corp. Rev., |
||||||||||
370 | 5.00%, 2/1/21, Ser. C |
Baa1/AA- | 274,629 | |||||||
6,460 | 5.25%, 9/1/17, Ser. A |
A1/A | 5,427,498 | |||||||
600 | 5.25%, 9/1/21, Ser. A |
Baa1/A | 464,544 | |||||||
300 | 5.25%, 9/1/22, Ser. A |
Baa1/A | 228,804 | |||||||
5,000 | 5.25%, 9/1/24, Ser. A |
A1/A | 3,710,250 | |||||||
10,575,725 | ||||||||||
Texas7.2% |
||||||||||
10,000 | Coppell Independent School Dist., GO, zero coupon, 8/15/29 (PSF-GTD) |
Aaa/AAA | 3,302,400 | |||||||
20 | Duncanville Independent School Dist., GO, |
|||||||||
5.25%, 2/15/32, Ser. B (PSF-GTD) |
Aaa/AAA | 20,178 | ||||||||
285 | Mansfield Independent School Dist., GO, 5.25%, 2/15/23 (PSF-GTD) |
Aaa/AAA | 292,718 | |||||||
Municipal Gas Acquisition & Supply Corp. I Rev., |
||||||||||
150 | 5.25%, 12/15/25, Ser. A |
Aa3/A+ | 111,997 | |||||||
6,500 | 6.25%, 12/15/26, Ser. D |
A2/A | 5,363,345 | |||||||
North Harris Cnty. Regional Water Auth. Rev., |
||||||||||
4,200 | 5.25%, 12/15/33 |
A3/A+ | 3,851,064 | |||||||
4,200 | 5.50%, 12/15/38 |
A3/A+ | 3,926,076 | |||||||
North Texas Tollway Auth. Rev., |
||||||||||
6,050 | 5.625%, 1/1/33, Ser. A |
A2/A- | 5,668,850 | |||||||
600 | 5.75%, 1/1/33, Ser. F |
A3/BBB+ | 532,572 | |||||||
6,500 | State Municipal Gas Acquisition & Supply Corp. I Rev., |
|||||||||
5.25%, 12/15/23, Ser. A |
A2/A | 4,997,915 | ||||||||
400 | State Public Finance Auth. Rev., 5.875%, 12/1/36, Ser. A |
Baa3/BBB- | 271,860 | |||||||
4,000 | Tarrant Cnty. Cultural Education Facs. Finance Corp. Rev., |
|||||||||
Baylor Health Care Systems, 6.25%, 11/15/29 (e) |
Aa2/AA- | 4,066,840 | ||||||||
32,405,815 | ||||||||||
Utah1.6% |
||||||||||
7,000 | Salt Lake Cnty. Hospital Rev., |
|||||||||
IHC Health Services, 5.125%, 2/15/33 (AMBAC) |
Baa1/AA+ | 7,178,360 | ||||||||
Principal | ||||||||||
Amount | Credit Rating | |||||||||
(000) | (Moodys/S&P) | Value* | ||||||||
Virginia0.3% |
||||||||||
$ | 2,000 | Peninsula Town Center Community Dev. Auth. Rev., 6.45%, 9/1/37 |
NR/NR | $ | 1,319,000 | |||||
Washington0.9% |
||||||||||
Health Care Facs. Auth. Rev., |
||||||||||
250 | Seattle
Cancer Care Alliance, 7.375%, 3/1/38 (e) |
A3/NR | 248,422 | |||||||
2,000 | Virginia Mason Medical Center, 6.125%, 8/15/37, Ser. A |
Baa2/BBB | 1,461,720 | |||||||
State
Housing Finance Commission Rev., Skyline at First Hill, Ser. A, |
||||||||||
275 | 5.25%, 1/1/17 |
NR/NR | 210,873 | |||||||
3,600 | 5.625%, 1/1/38 |
NR/NR | 2,078,028 | |||||||
3,999,043 | ||||||||||
Wisconsin2.5% |
||||||||||
9,785 | Badger Tobacco Asset Securitization Corp. Rev., 6.00%, 6/1/17 |
Baa3/BBB | 9,299,762 | |||||||
2,230 | Health & Educational Facs. Auth. Rev., |
|||||||||
Kenosha Hospital & Medical Center, 5.625%, 5/15/29 |
NR/A | 1,962,333 | ||||||||
11,262,095 | ||||||||||
Total Municipal Bonds & Notes (cost$446,057,282) |
399,591,019 | |||||||||
CORPORATE BONDS & NOTES (k)2.3% | ||||||||||
10,000 | American General Finance Corp., 4.625%, 9/1/10 |
Baa1/BBB | 5,940,300 | |||||||
4,500 | CIT Group, Inc., 5.80%, 7/28/11 |
Baa2/BBB+ | 3,759,471 | |||||||
600 | International Lease Finance Corp., 2.373%, 5/24/10, FRN |
Baa1/BBB+ | 497,537 | |||||||
Total Corporate Bonds & Notes (cost$9,998,915) |
10,197,308 | |||||||||
VARIABLE RATE NOTES (a)(d)(g)(h)1.6% | ||||||||||
Illinois1.6% |
||||||||||
7,252 | Cook Cnty., GO, 8.27%, 11/15/28, Ser. 458 (FGIC) (cost$6,906,226) |
Aa2/NR | 7,244,522 | |||||||
SHORT-TERM INVESTMENTS6.8% | ||||||||||
Variable Rate Demand Notes (h)(i)3.9% | ||||||||||
South Carolina0.8% |
||||||||||
3,500 | Educational Facs. Auth. Rev., Furman Univ., 0.67%, 2/2/09, Ser. B |
VMIG1/NR | 3,500,000 | |||||||
Utah3.1% |
||||||||||
13,960 | Intermountain Power Agcy. Rev., 0.80%, 2/2/09, Ser. F |
VMIG1/NR | 13,960,000 | |||||||
Total Variable Rate Demand Notes (cost$17,460,000) |
17,460,000 | |||||||||
Corporate Bonds & Notes (k)1.8% | ||||||||||
American General Finance Corp., |
||||||||||
1,600 | 1.785%,
10/2/09 |
Baa1/BBB | 1,262,547 | |||||||
1,100 | 4.625%, 5/15/09 |
Baa1/BBB | 1,004,615 | |||||||
4,400 | CIT Group, Inc., 4.125%, 11/3/09 |
Baa1/BBB+ | 4,138,539 | |||||||
International Lease Finance Corp., |
||||||||||
500 | 1.494%, 1/15/10, FRN |
Baa1/BBB+ | 441,719 | |||||||
1,500 | 4.75%, 7/1/09 |
Baa1/BBB+ | 1,444,714 | |||||||
Total Corporate Bonds & Notes (cost$8,083,557) |
8,292,134 | |||||||||
U.S. Treasury Bills (j)1.1% | ||||||||||
4,720 | 0.01%-0.98%, 2/19/09-6/11/09 (cost$4,719,227) |
4,719,227 | ||||||||
Total
Short-Term Investments (cost$30,262,784) |
30,471,361 | |||||||||
Total Investments (cost-$493,225,207)100.0% |
$ | 447,504,210 | ||||||||
* | Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Market value is generally determined on the basis of last reported sales prices, or if no sales are reported, based on quotes obtained from a quotation reporting system, established market makers, or pricing services. | |
Portfolio securities and other financial instruments for which market quotations are not readily available or if a development/event occurs that may significantly impact the value of a security, are fair-valued, in good faith, pursuant to procedures established by the Board of Trustees, or persons acting at their discretion pursuant to procedures established by the Board of Trustees. The Funds investments are valued daily using prices supplied by an independent pricing service or dealer quotations, or by using the last sale price on the exchange that is the primary market for such securities, or the last quoted mean price for those securities for which the over-the-counter market is the primary market or for listed securities in which there were no sales. Prices obtained from independent pricing services use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Exchange traded options, futures and options on futures are valued at the settlement price determined by the relevant exchange. Securities purchased on a when-issued or delayed-delivery basis are marked to market daily until settlement at the forward settlement date. Short-term securities maturing in 60 days or less are valued at amortized cost, if their original term to maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term to maturity exceeded 60 days. | ||
The prices used by the Fund to value securities may differ from the value that would be realized if the securities were sold and these differences could be material. The Funds net asset value is normally determined daily as of the close of regular trading (normally, 4:00 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open for business. | ||
(a) | Private PlacementRestricted as to resale and may not have a readily available market. Securities with an aggregate value of $7,714,522, representing 1.72% of total investments. | |
(b) | Illiquid security. | |
(c) | Pre-refunded bonds are collateralized by U.S. Government or other eligible securities which are held in escrow and used to pay principal and interest and retire the bonds at the earliest refunding date (payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). | |
(d) | 144A SecuritySecurity exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, typically only to qualified institutional buyers. Unless otherwise indicated, these securities are not considered to be illiquid. | |
(e) | When issued or delayed-delivery security. To be delivered after January 31, 2009. | |
(f) | Security in default. | |
(g) | Inverse FloaterThe interest rate shown bears an inverse relationship to the interest rate on another security or the value of an index. The interest rate disclosed reflects the rate in effect on January 31, 2009. | |
(h) | Variable Rate NotesInstruments whose interest rates change on specified date (such as a coupon date or interest payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). The interest rate disclosed reflects the rate in effect on January 31, 2009. | |
(i) | Maturity date shown is date of next put. | |
(j) | All or partial amount segregated as collateral for swaps. | |
(k) | All or partial amount segregated as collateral for reverse repurchase agreements. | |
(l) | Residual Interest Bonds held in trustSecurities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired the residual interest certificates. These securities serve as collateral in a financing transaction. |
(1) | Transactions in options written for the nine months ended January 31, 2009: |
Contracts | Premiums | |||||||
Options outstanding, April 30, 2008 |
276 | $ | 225,464 | |||||
Options expired |
(276 | ) | (225,464 | ) | ||||
Options outstanding, January 31, 2009 |
| $ | | |||||
(2) | Interest rate swap agreements outstanding at January 31, 2009: |
Rate Type | Upfront | Unrealized | ||||||||||||||||||||||||||
Notional Amount | Termination | Payments Made | Payments Received | Market | Premiums | Appreciation | ||||||||||||||||||||||
Swap Counterparty | (000) | Date | by Fund | by Fund | Value | Received | (Depreciation) | |||||||||||||||||||||
Royal Bank of Scotland |
$ | 16,400 | 12/17/23 | 5.00 | % | 3-Month USD-LIBOR | $ | (3,233,875 | ) | $ | (1,016,800 | ) | $ | (2,278,515 | ) | |||||||||||||
Royal Bank of Scotland |
11,300 | 6/17/24 | 4.00 | % | 3-Month USD-LIBOR | (775,772 | ) | (1,366,735 | ) | 590,963 | ||||||||||||||||||
$ | (4,009,647 | ) | $ | (2,383,535 | ) | $ | (1,687,552 | ) | ||||||||||||||||||||
(3) | Open reverse repurchase agreements at January 31, 2009: |
Counterparty | Rate | Trade Date | Maturity Date | Principal & Interest | Par | |||||||||||||||
Barclays Bank |
0.90 | % | 1/23/09 | 2/26/09 | $ | 12,951,029 | $ | 12,941,000 | ||||||||||||
0.90 | % | 1/28/09 | 3/2/09 | 2,250,799 | 2,249,000 | |||||||||||||||
Credit Suisse First Boston |
1.125 | % | 1/6/09 | 2/6/09 | 747,701 | 747,000 | ||||||||||||||
$ | 15,937,000 | |||||||||||||||||||
Market | ||||||||||||||||
Counterparty | Description | Rate | Maturity Date | Par | Value | |||||||||||
Barclays Bank |
American General Finance Corp. | 1.785 | % | 10/2/09 | $ | 1,600,000 | $ | 1,262,547 | ||||||||
American General Finance Corp. | 4.625 | % | 5/15/09 | 1,100,000 | 1,004,615 | |||||||||||
American General Finance Corp. | 4.625 | % | 9/1/10 | 10,000,000 | 5,940,300 | |||||||||||
CIT Group, Inc. | 4.125 | % | 11/3/09 | 4,400,000 | 4,138,539 | |||||||||||
CIT Group, Inc. | 5.80 | % | 7/28/11 | 4,500,000 | 3,759,471 | |||||||||||
International Lease Finance Corp. | 4.75 | % | 7/1/09 | 1,500,000 | 1,444,714 | |||||||||||
Credit Suisse First Boston |
International Lease Finance Corp. | 1.494 | % | 1/15/10 | 500,000 | 441,719 | ||||||||||
International Lease Finance Corp. | 2.373 | % | 5/24/10 | 600,000 | 497,537 | |||||||||||
$ | 18,489,442 | |||||||||||||||
| Level 1 quoted prices in active markets for identical investments that the Fund has the ability to access. | ||
| Level 2 valuations based on other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.), or quotes from inactive exchanges. | ||
| Level 3 valuations based on significant unobservable inputs (including the Funds own assumptions in determining the fair value of investments). |
Other | ||||||||
Investments in | Financial | |||||||
Valuation Inputs | Securities | Instruments | ||||||
Level 1 Quoted Prices |
$ | | $ | | ||||
Level 2 Other Significant Observable Inputs |
447,504,210 | (1,687,552 | ) | |||||
Level 3 Significant Unobservable Inputs |
| | ||||||
Total |
$ | 447,504,210 | $ | (1,687,552 | ) | |||
Registrant: PIMCO Municipal Income Fund | ||||
By
|
/s/ Brian S. Shlissel
|
By
|
/s/ Lawrence G. Altadonna
|
By
|
/s/ Brian S. Shlissel
|
By
|
/s/ Lawrence G. Altadonna
|