Form POS AMI PIMCO FUNDS
As filed with the Securities and Exchange Commission on November 14, 2025
File No. 811-05028
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1A
REGISTRATION STATEMENT
UNDER
| THE INVESTMENT COMPANY ACT OF 1940 | ☒ | |||
| Amendment No. 517 | ☒ | |||
PIMCO Funds
(Exact name of Registrant as Specified in Charter)
650 Newport Center Drive
Newport Beach, California 92660
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including area code
(888) 877-4626
| Douglas P. Dick, Esq. Adam T. Teufel, Esq. Dechert LLP 1900 K Street, N.W. Washington, D.C. 20006 |
Joshua D. Ratner Pacific Investment Management Company LLC 650 Newport Center Drive Newport Beach, California 92660 | |
| (Name and Address of Agent for Service) | ||
It is intended that this filing will become effective immediately upon filing in accordance with Section 8 of the Investment Company Act of 1940 and the rules thereunder.
EXPLANATORY NOTE
This Amendment No. 517 to the Registration Statement of PIMCO Funds (the “Trust” or the “Registrant”) on Form N-1A (File No. 811-05028) (the “Registration Statement”) is being filed to make changes to the Offering Memoranda and Offering Memorandum Supplements of the Trust’s Private Account Portfolio Series and Private Account Portfolio Series: Sector Portfolios (the “Private Account Portfolio Series”), respectively, each dated August 1, 2025, as amended.
The shares of beneficial interest in the Private Account Portfolio Series are not registered under the Securities Act of 1933, as amended (the “1933 Act”), because such shares will be issued by the Registrant solely in private placement transactions that do not involve any “public offering” within the meaning of the 1933 Act. Shares of the Private Account Portfolio Series may be purchased only by clients of Pacific Investment Management Company LLC (“PIMCO”), including separately managed private accounts and investment companies registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and other funds, who are “accredited investors,” as defined in Regulation D under the 1933 Act, and either (i) “qualified purchasers,” as defined for purposes of Section 3(c)(7) of the 1940 Act, or (ii) “qualified institutional buyers,” as defined in Rule 144A(a)(1) under the 1933 Act. Shares of the Private Account Portfolio Series may also be purchased by certain investors outside of the United States consistent with applicable regulatory requirements. This Amendment is not an offer to sell, or a solicitation of any offer to buy, any security to the public within the meaning of the 1933 Act.
PIMCO Funds
Private Account Portfolio Series
Amendment Dated November 14, 2025 to the Private Account Portfolio Series Offering Memorandum and Private Account Portfolio Series: Sector Portfolios Offering Memorandum and Private Account Portfolio Series Offering Memorandum Supplement and Private Account Portfolio Series: Sector Portfolios Offering Memorandum Supplement
dated August 1, 2025, as amended from time to time
Disclosure Regarding the PIMCO Investment Grade Credit Bond Portfolio, PIMCO Long Duration Credit Bond Portfolio and PIMCO Sector Fund Series – I (each, a “Portfolio”)
Effective immediately, Mark R. Kiesel no longer manages the Portfolios. Therefore, effective immediately, all references to Mr. Kiesel in the Offering Memoranda and Offering Memorandum Supplements are removed in their entirety.
Investors Should Retain This Amendment for Future Reference
PIMCO Funds
Private Account Portfolio Series
Amendment Dated November 14, 2025 to the Private Account Portfolio Series Offering Memorandum dated August 1, 2025, as amended from time to time (the “Offering Memorandum”)
Disclosure Regarding the PIMCO Investment Grade Credit Bond Portfolio and PIMCO Long Duration Credit Bond Portfolio (each, a “Portfolio” and together, the “Portfolios”)
Effective immediately, the PIMCO Investment Grade Credit Bond Portfolio is jointly and primarily managed by Amit Arora and Jelle Brons. Accordingly, effective immediately, the paragraph in the “Investment Adviser/Portfolio Managers” section in the Portfolio’s Portfolio Summary in the Offering Memorandum is deleted and replaced with the following:
PIMCO serves as the investment adviser for the Portfolio. The Portfolio’s portfolio is jointly and primarily managed by Amit Arora and Jelle Brons. Messrs. Arora and Brons are Executive Vice Presidents of PIMCO. Messrs. Arora and Brons have managed the Portfolio since November 2025.
Effective immediately, the PIMCO Long Duration Credit Bond Portfolio is jointly and primarily managed by Mohit Mittal, Amit Arora and Jelle Brons. Accordingly, effective immediately, the paragraph in the “Investment Adviser/Portfolio Managers” section in the Portfolio’s Portfolio Summary in the Offering Memorandum is deleted and replaced with the following:
PIMCO serves as the investment adviser for the Portfolio. The Portfolio’s portfolio is jointly and primarily managed by Mohit Mittal, Amit Arora and Jelle Brons. Mr. Mittal is CIO Core Strategies and a Managing Director of PIMCO. Messrs. Arora and Brons are Executive Vice Presidents of PIMCO. Messrs. Mittal, Arora and Brons have managed the Portfolio since November 2025.
In addition, effective immediately, disclosure concerning the Portfolios’ portfolio managers in the table in the “Management of the Portfolios—Individual Portfolio Managers” section of the Offering Memorandum is deleted and replaced with the following:
| Portfolio | Manager(s) | Since | Recent Professional Experience | |||
| PIMCO Investment Grade Credit Bond PIMCO Long Duration Credit Bond |
Amit Arora | 11/25 11/25 |
Executive Vice President, PIMCO. He is a portfolio manager on the credit and liability-driven portfolio management teams. He was previously a senior member of PIMCO’s global risk management team. He manages credit portfolios focusing on investment grade and long credit. Prior to joining PIMCO in 2009, he was an executive director, responsible for credit hybrids and exotics trading, at J.P. Morgan. Mr. Arora was previously with Bear Stearns as a managing director on the structured credit trading desk, responsible for credit derivative products in investment grade and high yield credits. Before joining Bear Stearns, he worked on the foreign exchange Treasury desk at Citibank. He has investment experience since 1997 and holds an MBA from NYU Stern School of Business and a bachelor’s degree in mechanical engineering from the Indian Institute of Technology (IIT Bombay). He is a Certified Financial Risk Manager (FRM). |
| Portfolio | Manager(s) | Since | Recent Professional Experience | |||
| PIMCO Investment Grade Credit Bond PIMCO Long Duration Credit Bond |
Jelle Brons | 11/25 11/25 |
Executive Vice President, PIMCO. Mr. Brons is a portfolio manager on the Global and U.S. Investment Grade Credit team. Prior to joining PIMCO in 2005, Mr. Brons worked at UBS Investment Bank in the credit fixed income department, initially in credit sales and then with the team responsible for CreditDelta, a credit market and portfolio analysis tool. He has investment experience since 2002 and holds a master’s degree in actuarial science and econometrics from the University of Amsterdam and a master’s degree in financial engineering and quantitative analysis from the ICMA Business School at the University of Reading. He is a Certified Financial Risk Manager (FRM) and is a CFA charterholder. | |||
| PIMCO Long Duration Credit Bond |
Mohit Mittal | 11/25 | CIO Core Strategies and Managing Director, PIMCO. Mr. Mittal is a member of the Investment Committee and a portfolio manager for fixed income multi-sector portfolios across the duration and credit spectrum. As CIO Core Strategies, Mr. Mittal has leadership and oversight responsibilities for long-only strategies across PIMCO’s Low and Moderate Duration, Total Return, and Long Duration strategy suite. Morningstar named him winner of the 2020 U.S. Morningstar Award for Investing Excellence in the Rising Talent category. Mr. Mittal also serves on the board of Orangewood Foundation. He joined PIMCO in 2007 and holds an MBA from the Wharton School of the University of Pennsylvania and an undergraduate degree in computer science from Indian Institute of Technology (IIT) in Delhi, India. | |||
Investors Should Retain This Amendment for Future Reference
PIMCO Funds
Private Account Portfolio Series
Amendment Dated November 14, 2025 to the Private Account Portfolio Series Offering Memorandum Supplement dated August 1, 2025, as amended from time to time (the “Offering Memorandum Supplement”)
Disclosure Regarding the PIMCO Investment Grade Credit Bond Portfolio and PIMCO Long Duration Credit Bond Portfolio (each, a “Portfolio” and together, the “Portfolios”)
Effective immediately, the PIMCO Investment Grade Credit Bond Portfolio is jointly and primarily managed by Amit Arora and Jelle Brons; and the PIMCO Long Duration Credit Bond Portfolio is jointly and primarily managed by Mohit Mittal, Amit Arora and Jelle Brons.
Accordingly, effective immediately, corresponding changes are made in the table and accompanying footnotes in the subsection titled “Portfolio Managers—Other Accounts Managed” in the Offering Memorandum Supplement.
In addition, effective immediately, corresponding changes are made in the table and accompanying footnotes in the subsection titled “Portfolio Managers—Securities Ownership” in the Offering Memorandum Supplement.
Investors Should Retain This Amendment for Future Reference
PIMCO Funds
Private Account Portfolio Series
Amendment Dated November 14, 2025 to the Private Account Portfolio Series: Sector Portfolios Offering Memorandum dated August 1, 2025, as amended from time to time (the “Offering Memorandum”)
Disclosure Regarding the PIMCO Sector Fund Series – I (the “Portfolio”)
Effective immediately, the PIMCO Sector Fund Series – I is jointly and primarily managed by Mohit Mittal, Amit Arora, Jelle Brons and Saurabh Sud. Accordingly, effective immediately, the paragraph in the “Investment Adviser/Portfolio Managers” section in the Portfolio’s Portfolio Summary in the Offering Memorandum is deleted and replaced with the following:
PIMCO serves as the investment adviser for the Portfolio. The Portfolio’s portfolio is jointly and primarily managed by Amit Arora, Mohit Mittal, Jelle Brons and Saurabh Sud. Mr. Arora is an Executive Vice President of PIMCO, Mr. Mittal is CIO Core Strategies and a Managing Director of PIMCO and Messrs. Brons and Sud are Executive Vice Presidents of PIMCO. Messrs. Mittal and Arora have managed the Portfolio since its inception. Messrs. Bron and Sud have managed the Portfolio since November 2025.
In addition, effective immediately, disclosure concerning the Portfolios’ portfolio managers in the table in the “Management of the Portfolios—Individual Portfolio Managers” section of the Offering Memorandum is deleted and replaced with the following:
| Portfolio | Manager(s) | Since | Recent Professional Experience | |||
| PIMCO Sector Fund Series - BC PIMCO Sector Fund Series - I |
Amit Arora | * 6/22* |
Executive Vice President, PIMCO. He is a portfolio manager on the credit and liability-driven portfolio management teams. He was previously a senior member of PIMCO’s global risk management team. He manages credit portfolios focusing on investment grade and long credit. Prior to joining PIMCO in 2009, he was an executive director, responsible for credit hybrids and exotics trading, at J.P. Morgan. Mr. Arora was previously with Bear Stearns as a managing director on the structured credit trading desk, responsible for credit derivative products in investment grade and high yield credits. Before joining Bear Stearns, he worked on the foreign exchange Treasury desk at Citibank. He has investment experience since 1997 and holds an MBA from NYU Stern School of Business and a bachelor’s degree in mechanical engineering from the Indian Institute of Technology (IIT Bombay). He is a Certified Financial Risk Manager (FRM). |
| Portfolio | Manager(s) | Since | Recent Professional Experience | |||
| PIMCO Sector Fund Series – I |
Jelle Brons | 11/25 | Executive Vice President, PIMCO. Mr. Brons is a portfolio manager on the Global and U.S. Investment Grade Credit team. Prior to joining PIMCO in 2005, Mr. Brons worked at UBS Investment Bank in the credit fixed income department, initially in credit sales and then with the team responsible for CreditDelta, a credit market and portfolio analysis tool. He has investment experience since 2002 and holds a master’s degree in actuarial science and econometrics from the University of Amsterdam and a master’s degree in financial engineering and quantitative analysis from the ICMA Business School at the University of Reading. He is a Certified Financial Risk Manager (FRM) and is a CFA charterholder. | |||
| PIMCO Sector Fund Series – I |
Mohit Mittal | 6/22* | CIO Core Strategies and Managing Director, PIMCO. Mr. Mittal is a member of the Investment Committee and a portfolio manager for fixed income multi-sector portfolios across the duration and credit spectrum. As CIO Core Strategies, Mr. Mittal has leadership and oversight responsibilities for long-only strategies across PIMCO’s Low and Moderate Duration, Total Return, and Long Duration strategy suite. Morningstar named him winner of the 2020 U.S. Morningstar Award for Investing Excellence in the Rising Talent category. Mr. Mittal also serves on the board of Orangewood Foundation. He joined PIMCO in 2007 and holds an MBA from the Wharton School of the University of Pennsylvania and an undergraduate degree in computer science from Indian Institute of Technology (IIT) in Delhi, India. | |||
| Portfolio | Manager(s) | Since | Recent Professional Experience | |||
| PIMCO Sector Fund Series – I |
Saurabh Sud | 11/25 | Executive Vice President, PIMCO. He oversees European public corporate credit portfolios, including investment grade and leveraged finance, and is a senior member of PIMCO’s multi-sector and global investment grade credit portfolio management teams. He is currently a rotating member of the European Portfolio Committee and a rotating member of the Investment Committee. He rejoined PIMCO in 2024 and previously was with T. Rowe Price, where he led the launch of a liquid alternatives version of the multi-asset credit (long/short) strategy and co-managed the new income strategy; he was also co-head of the sector strategy advisory group and an advisory board member of the dynamic global bond and global multi-sector strategies. Prior to 2018, Mr. Sud was a PIMCO portfolio manager for credit absolute return and long duration credit strategies, and he was a member of the Americas Portfolio Committee. He has 17 years of investment experience and holds an MBA from Columbia Business School. He received an undergraduate degree from the Indian Institute of Technology, Delhi. He is a CFA charterholder. |
Investors Should Retain This Amendment for Future Reference
PIMCO Funds
Private Account Portfolio Series
Amendment Dated November 14, 2025 to the Private Account Portfolio Series: Sector Portfolios Offering Memorandum Supplement
dated August 1, 2025, as amended from time to time (the “Offering Memorandum Supplement”)
Disclosure Regarding the PIMCO Sector Fund Series – I (the “Portfolio”)
Effective immediately, the PIMCO Sector Fund Series – I is jointly and primarily managed by Amit Arora, Mohit Mittal, Jelle Brons and Saurabh Sud.
Accordingly, effective immediately, corresponding changes are made in the table and accompanying footnotes in the subsection titled “Portfolio Managers—Other Accounts Managed” in the Offering Memorandum Supplement.
In addition, effective immediately, corresponding changes are made in the table and accompanying footnotes in the subsection titled “Portfolio Managers—Securities Ownership” in the Offering Memorandum Supplement.
Investors Should Retain This Amendment for Future Reference
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| * |
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| Name and Principal Business Address* |
Positions and Offices With Underwriter
|
Positions and Offices with Registrant |
| Hall, Gregory W. |
Chairman of the Board of
Managers, Principle Executive
Officer |
None |
| Sutherland, Eric M. |
President and Manager, Board of
Managers |
None |
| Bentley, James D. |
Manager, Board of Managers |
None |
| Pitters, Caleb J.A. |
Manager, Board of Managers |
None |
| Tracy, Lauren R. |
Manager, Board of Managers |
None |
| Ferrari, David R. |
Chief Operating Decision-Maker,
Principal Financial Officer and
Financial and Operations Principal |
None |
| Whittaker, Megan |
Anti-Money Laundering
Compliance Officer |
None |
| Dubitzky, Y. Zvi |
Chief Compliance Officer, Chief
Legal Officer |
None |
| Thomas, Mark G. |
Head of Business Management |
None |
| Burg, Anthony A. |
Treasurer |
None |
| Oglesby, Sarah J. |
Secretary |
None |
| PIMCO FUNDS
(Registrant) | |
| By: |
Joshua D. Ratner*, President |
| *By: |
/s/ ADAM T. TEUFEL Adam T. Teufel as attorney-in-fact |
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