PIMCO All Asset A Report (PASAX) | Asset Allocation Summary

Benchmark	Morningstar Category
Morningstar Global Allocation TR Morningstar Global Allocation TR MPT Benchmark Morningstar Moderate Target Risk Primary Prospectus Benchmark Barclays US Trsy Infl Note 1-10Y TR USD Secondary Prospectus Benchmark N/A Analyst Assigned Benchmark Morningstar Global Allocation TR Create Custom Benchmark Apply	World Allocation World Allocation Aggressive Allocation Bank Loan Bear Market China Region Commodities Agriculture Commodities Broad Basket Commodities Energy Commodities Industrial Metals Commodities Miscellaneous Commodities Precious Metals Communications Conservative Allocation Consumer Cyclical Consumer Defensive Convertibles Corporate Bond Diversified Emerging Mkts Diversified Pacific/Asia Emerging Markets Bond Equity Energy Equity Precious Metals Europe Stock Financial Foreign Large Blend Foreign Large Growth Foreign Large Value Foreign Small/Mid Blend Foreign Small/Mid Growth Foreign Small/Mid Value Global Real Estate Health High Yield Bond High Yield Muni India Equity Industrials Inflation-Protected Bond Intermediate Government Intermediate-Term Bond Japan Stock Large Blend Large Growth Large Value Latin America Stock Leveraged Net Long Long Government Long-Term Bond Long/Short Equity Managed Futures Market Neutral Mid-Cap Blend Mid-Cap Growth Mid-Cap Value Miscellaneous Region Miscellaneous Sector Moderate Allocation Money Market- Tax-Free Money Market-Taxable Multialternative Multicurrency Multisector Bond Muni California Intermediate Muni California Long Muni Florida Muni Massachusetts Muni Minnesota Muni National Interm Muni National Long Muni National Short Muni New Jersey Muni New York Intermediate Muni New York Long Muni Ohio Muni Pennsylvania Muni Single State Interm Muni Single State Long Muni Single State Short Natural Resources Nontraditional Bond Pacific/Asia ex-Japan Stk Preferred Stock Real Estate Retirement Income Short Government Short-Term Bond Single Currency Small Blend Small Growth Small Value Stable Value Static Aggressive Allocation Static Conservative Allocation Static Intermediate Bond Static Large Blend Static Large Growth Static Large Value Static Mid-Cap Equity Static Moderate Allocation Static Money Market Static Non US Equity Static Short-Term Bond Static Small-Cap Equity Static US Government Tactical Allocation Target Date 2000-2010 Target Date 2011-2015 Target Date 2016-2020 Target Date 2021-2025 Target Date 2026-2030 Target Date 2031-2035 Target Date 2036-2040 Target Date 2041-2045 Target Date 2046-2050 Target Date 2051+ Technology Trading-Inverse Commodities Trading-Inverse Debt Trading-Inverse Equity Trading-Leveraged Commodities Trading-Leveraged Debt Trading-Leveraged Equity Trading-Miscellaneous Ultrashort Bond Utilities Volatility World Allocation World Bond World Stock

Benchmark

Morningstar Category

Morningstar Global Allocation TR

World Allocation

Asset Allocation

PASAX

Asset Distribution

	Type	% Net	% Short	% Long	Bench- mark	Cat Avg
As of 12/31/2013

	Cash	-35.25	86.67	51.42	4.02	15.16

	US Stock	1.62	0.23	1.85	27.62	26.95

	Non US Stock	1.99	0.01	2.01	32.26	33.74

	Bond	102.68	10.04	112.72	35.61	19.47

	Other	28.95	6.57	35.52	0.50	4.68

Style Details

Avg Market Cap USD
24,911 Mil

Benchmark Market Cap USD
21,838 Mil

Category Avg Market Cap USD
36,804 Mil

Market Capitalization
Size	% of Portfolio	Benchmark	Category Avg

Giant	43.46	39.52	53.07

Large	27.17	26.82	27.41

Medium	18.48	27.26	15.74

Small	9.30	6.25	3.13

Micro	1.58	0.14	0.65

Value & Growth Measures
	Stock Portfolio	Benchmark	Category Avg
As of 12/31/2013 *Forward-looking based on historical data Style and Market Cap Breakdown and Value and Growth Measures are calculated only using the long position holdings of the portfolio.

Price/Prospective Earnings*	12.61	15.48	14.91

Price/Book*	1.54	1.81	1.75

Price/Sales*	1.21	1.14	1.12

Price/Cash Flow*	6.96	6.23	6.57

Dividend Yield %*	3.16	2.41	2.29

Long-Term Earnings %	9.71	9.47	9.34

Historical Earnings %	3.90	-13.37	-7.99

Sales Growth %	0.23	-41.19	-28.80

Cash-Flow Growth %	-3.39	-20.64	-28.82

Book-Value Growth %	2.60	-27.26	-66.58

Ownership Zone

Weighted Average of holdings

75% of fund's stock holdings

Holdings Style

Portfolio Weight%

> 50% 25–50% 10–25% 0–10%

Investment Style History
Year	Style	% Equity
*As of 12/31/2013 Style Box Detail calculations do not include the fund's short positions (if any).

2013*		3.62

2012		0.28

2011	—	2.03

2010	—	-4.04

2009	—	0.06

Fixed-Income Style

Fixed-Income Style History
Year	Style	% Bonds
As of 03/31/2010

2013	—	102.68

2012	—	90.59

2011	—	105.31

2010	—	99.43

2009		109.58

Bond Statistics
Detail	Value
As of 03/31/2010, *As of 12/31/2013

Average Effective Duration (Years)*	3.63

Average Effective Maturity (Years)*	5.76

Average Credit Quality	Not Rated

Average Weighted Coupon*	4.47

Average Weighted Price*	—

Credit Quality
Type	% Bonds	Benchmark	Category Avg

AAA	—	25.62	46.69

AA	—	26.20	10.59

A	—	23.23	4.00

BBB	—	21.69	18.60

BB	—	1.65	6.62

B	—	1.43	8.04

Below B	—	0.18	3.28

Not Rated	—	0.00	2.17

As of 03/31/2010 Credit Quality is calculated only using the long position holdings of the portfolio.

Sector Weightings

PASAX

Equity Sector
Bond Sector

		% Stocks	Benchmark	Category Avg

	Cyclical

	Basic Materials	3.26	7.07	5.16

	Consumer Cyclical	2.65	12.21	12.71

	Financial Services	21.60	17.86	16.58

	Real Estate	5.21	4.12	3.68


	Sensitive

	Communication Services	1.37	4.18	4.47

	Energy	11.70	8.42	10.60

	Industrials	11.03	12.27	9.83

	Technology	11.56	12.02	13.59


	Defensive

	Consumer Defensive	26.23	8.73	9.27

	Healthcare	5.01	9.66	11.56

	Utilities	0.38	3.45	2.55

As of 12/31/2013 Sector data is calculated only using the long position holdings of the portfolio.

Fixed-Income Sectors
Type		% Bonds	Benchmark	Category Avg

	Government	31.68	66.05	30.21

Government		15.61	64.22	19.30

Government-Related		16.07	1.83	10.91


	Corporate	17.22	23.72	16.54


	Securitized	10.34	0.15	6.05

Agency Mortgage-Backed		4.00	0.04	0.78

Non-Agency Residential MBS		3.75	0.01	1.60

Commercial MBS		0.55	0.01	1.21

Asset-Backed		2.02	0.00	2.45

Covered Bond		0.02	0.09	0.01


	Municipal	0.85	0.00	0.10


	Cash & Equivalents	20.54	10.08	40.64


	Other	19.36	0.00	6.46

As of 12/31/2013 Sector data is calculated only using the long position holdings of the portfolio.

Coupon Range
Type	% Bonds	Benchmark	Category Avg

0% PIK	9.21	0.16	11.38

0% to 4%	41.53	61.34	50.36

4% to 6%	23.25	25.49	16.56

6% to 8%	13.59	9.56	11.12

8% to 10%	10.38	2.86	9.28

10% to 12%	1.80	0.44	0.98

More than 12%	0.25	0.15	0.34

As of 12/31/2013 Sector data is calculated only using the long position holdings of the portfolio.

Top 10 Country Breakdown

PASAX

	% Bonds	Benchmark	Category Avg

United States	73.94	41.67	68.15

Cayman Islands	2.56	1.73	0.97

Luxembourg	2.36	0.90	1.23

Brazil	2.13	1.24	1.44

United Kingdom	1.56	5.68	3.18

South Africa	1.53	0.20	0.13

Ireland	1.38	0.72	0.89

Netherlands	1.30	2.20	1.28

Mexico	1.24	1.56	2.11

Canada	1.05	1.67	1.92


As of 12/31/2013 Country breakdown data is calculated only using the long position holdings of the portfolio.

Bond Maturity Breakdown

PASAX

	% Bonds	Benchmark	Category Avg

1 to 3 Years	22.36	16.59	12.82

3 to 5 Years	19.07	24.46	16.24

5 to 7 Years	15.23	22.64	17.42

7 to 10 Years	16.72	15.13	29.79

10 to 15 Years	3.81	4.97	7.85

15 to 20 Years	3.10	4.53	2.15

20 to 30 Years	12.18	10.25	9.85

Over 30 Years	7.53	1.43	3.88


As of 12/31/2013

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	% Stocks	Benchmark	Category Avg
As of 12/31/2013 Region breakdown data is calculated by using the long position holdings of the portfolio equity part only.

Americas	50.49	51.74	49.63

North America	48.76	49.89	48.33

Latin America	1.74	1.85	1.30

Greater Europe	39.11	28.01	31.24

United Kingdom	13.42	8.32	9.85

Europe Developed	23.86	17.36	19.37

Europe Emerging	0.43	1.11	1.15

Africa/Middle East	1.40	1.21	0.87

Greater Asia	10.40	20.25	19.13

Japan	3.76	7.61	9.15

Australasia	0.24	2.82	1.26

Asia Developed	5.23	5.19	5.65

Asia Emerging	1.17	4.63	3.07


Market Classification

% Developed Markets	95.98	91.43	93.85

% Emerging Markets	4.02	8.57	6.15

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PIMCO All Asset A

Summary

Holdings

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Asset Allocation

PASAX

Style Details

PASAX

Sector Weightings

PASAX

Top 10 Country Breakdown

PASAX

Bond Maturity Breakdown

PASAX

World Regions

PASAX