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PIMCO: Here's What It Owns
PIMCO is big. Scratch that, it's massive: after all it holds over $2 trillion in global securities, mostly bond-related. It is so big, in fact, it takes two pages just to list the number of funds that comprise it, let alone the securities that these funds actually own.
Trying to make a list of what all these funds own is impossible: after all the only hedge fund that is larger than PIMCO in the world right now, is the Fed itself, with its $4.5 trillion in AUM.
Which is a problem when trying to estimate the impact of what a possible asset-shift, if not outright liqudation of some/all of PIMCO's holdings would have.
One thing is known - when it comes to PIMCO, the one most representative fund is its pure-play Total Return Fund. Below we show a snapshot of what it hold as of the most recent publicly reported period.
Here are just the first two letters of the alphabet.
Yet one has to start somewhere, and the somewhere probably should be with the list of the TRF's biggest holdings as a % of NAV. Here it is.
Here are the snapshot characteristics of the TRF:
The full Excel breakdown can be found here.
Here is the most recent TRF prospectus:
Finally, for anyone curious about investing in PIMCO now (good luck), here is the most recent investment highlights deck:
Source: PIMCO
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Great few months to be a FI broker...
First Muhammed, now Bill. What was that old saying about rats deserting a sinking ship??
Wonder if they changed Bill's password and revoked off site access?
Please make sure his twitter account is closed too. I know Icahn will be upset but for the love of God, don't let gross tweet anymore.
Well, if it only took liquidating the postions of 4 traders at a garage band hedge fund to send the Dow down 250 points yesterday (earlier ZH article), I would expect redemptions against a significant portion of Pimco's assets should be good for a 5,000 point drop in the Dow and/or 400 bps in the 10 year.
We're up 60. Bonds are either flat of up a whopping 4bps vs. pre-market levels.
Only a 5000 point drop? Optimist.....
"Well, if it only took liquidating the postions of 4 traders at a garage band hedge fund to send the Dow down 250 points yesterday (earlier ZH article), I would expect redemptions against a significant portion of Pimco's assets should be good for a 5,000 point drop in the Dow and/or 400 bps in the 10 year.
We're up 60. Bonds are either flat of up a whopping 4bps vs. pre-market levels. "
The FED is soaking it all up off exchange. It's a great day for Yellen and the Goldman Pirate Crew.
ISN'T THE QUESTION REALLY ABOUT TYLER AND ZEROHEDGE NOT PUBLISHING THE ARTICLE BY ONE WILLIAM D. COHAN ABOUT THE MANIPULATION OF THE SILVER MARKET. IT APPEARS THAT THE TYLERS HAVE TAKEN THE STEPS TO EDIT MISTER COHAN"S ARTICLE....BECAUSE IT NAMES CERTAIN PEOPLE! IS THIS TRUE TYLER?????
thanks to Jesse's Cafe Americain and TFmetals and Lemetropolecafe
Right you are. Where's Cohans piece?
good lookin out read about it yesterday also over at Silver Doctors.com...
FUCK PIMCO AND BILL MOTHER FUCKING GROSS...
That's not my understanding from reading the story at all. Cohan says that Maguire and his lawyer don't want the story broken on ZH. He is beholden to them for quote approval and therefore stymied. What are you smoking?
BECAUSE THE TYLERS EDITED THE ARTICLE!!!!!!!!! thats the point!!!!!! hello!!!!!
As strange as it may be to you conspiracy theorist fuckers, using caps does not change the world to make you right ...
"Unfortunately, Mr. Schnell did not like the idea of Zero Hedge, nor apparently did his clients. They also declined to approve the use of key facts and key quotations that I felt needed to be included in the story to give it credibility. Part of my agreement with them was that they would be given quote approval and without their approval, I could not use their quotations or their information.
They did not approve. At that point, without their cooperation, I did not feel the piece could be published. I explained that to Mr. Naylor-Leyland but he didn't seem much interested in those facts and then went on to encourage the publication of the piece to which you are all responding. All of which is to say, you are directing your passion to the wrong person. If you want the piece published, you need to reach out to Mr. Maguire and Mr. Schnell. Thank you for your interest and your passion on this topic. William D. Cohan"PS. god it's a fucking sad day when my socialist ass has to come to the defence of Tyler, the ZH audience is really fucking deteriorating.
marco you are correct and i miss read the article. I APOLOGIZE TO ZEROHEDGE AND THE TYLERS AND READERS........SORRY
greyghost
Get the fuck off the thread then
@Marco So weather you are a Socialist, Capitalist or fill in the ______ correcting misinformation is always the required action. Grey Ghost may have got ahead of himself on Cohen's story, but if he is a stacker then you might be able to understand his desire that this story will make it to the MSM.
I think Mr. Schnell does not understand how stories often first make it on ZH and then find their way into the MSM. I myself would love to see in published so as to have a glimpse into just how bad the manipulation is.
Link the story becuase I can't find Cohen's actual piece, just others commenting on it.
There is nothing, just read Jesse's blog post. There is no story to be published because the source, Andrew Maguire, does not want it published on ZH. Presumably he wants a higher profile publication, probably because he's writing a book and wants publicity.
http://jessescrossroadscafe.blogspot.nl/2014/09/mr-cohan-responds-on-his...
Cohan's source Andrew Maguire refused to let his quotes be used in the article and thus Cohan didn't want to publish.
You and the fuckers who are upvoting you need to get the conspiracy theories out of your head for long enough to achieve grade school level reading comprehension.
Care to post a link to the thing the "TYLERS" refused to post?
If you can't link to it, then it probably doesn't exist (don't argue the point, they probably have silver porn out there - internet rules and stuff).
Regards,
Cooter
GetZeeGold! Mongo must know, how it is possible that you can make as many comments that you do, from early morning til late at night and ever get anything accomplished? Work or otherwise! Not implying, just asking:-)
Sure, if you are good, otherwise I suspect it may be "raining" FI brokers shortly...
Between assets leaving PIMCO, Blackrock re-positioning (and presumably gaining AUM) and the general knock-on volatility and mayhem which has already commenced...yeah, it's a nice time to be a middleman.
If you are above average, sure.. But half of the population is below average no matter what you do. Why I am the only one to handle my wealth.
When I have a rough day, I always like to remind myself I have more than the average number of legs. Nothing like being above average!
And roger that on personal weath management. I have all but written off ever listening to douchbag financial advisors although they can be useful for tax advice and such. I want to know where my money is going (every penny) or I don't play ball.
Still in the paying off debt phase though ...
Honestly, at this point, I think a small business with cash flow is worth more than an investment portfolio. Will see how that pans out ...
Regards,
Cooter
The losses if rates increase are unimaginable!!
Sounds bullish. Just BTFD.
It's so easy to make money in this market.
Why would anyone leave the funds now that Bill Gross is gone?
Bill Gross was good because he was in the club. Once he started spouting off and got kicked out of the club we saw his real worth. He is going from managing a fund with $220 bil in AUM to a fund with $13mill in AUM. Sure some assets will follow Gross, that's offset by assets that were being pulled because of him.
This is exactly why mr Gross shares his wisdom with us because with these holdings you can only make money by manipulating the macro outlook, talking your own book.
i once worked on a spreadsheet that had over 200k lines in it. i thought that was a lot at the time. turns out to be small potatos. pimpco is big spuds, with more than a few rotten ones at that. mark it zero bitchez.
So Gross's plan is to leave with the idea that investors will follow, this forces a mass liquidation at PIMCO to meet withdrawals and the whole bond market goes to shit, at which point he'll buy bonds on the cheap for the new Janus fund and ride the performance as the market settles, which allows him to recrown himself bond king of the world.
face it, the only reason gross is at janus is maybe he'll buy it. [/al czervik]
optimist, that would also make him the bond vigilante as well...
better stay away from nail guns Mr. Gross.
I hear in finance, that's what they give old timers upon departure instead of gold watches these days.
Pete Connelly: "What's in the package?"
Bobby Ciaro: "Guy's dick and balls."
... and yet compared to the global banks such as JPM, Pimco is tiny, almost infinitesimal. JPM's balance sheet might not say it is huge, but once all of the off balance sheet items are added back, it is almost inconceivable.
David Faber on CNBC reporting that insiders cited "erratic behavior" by Bill Gross.
Maybe he was just being an ass, maybe he's losing it, maybe PIMCO is losing it.
Looks like lots of folk's money at risk in the FED Casino regardless.
Bill may be kicked out of the club, but my guess is that he and the El-A know something.
Dudes this cush dont suddenly bail for no reason. I dont buy the daughter bullshit.
Could be:
1) this Fed investigation of PIMPCO is Serious Business
2) these dudes (Bill and El-A) see the big wave and dont want to wear the big loss PIMPO is about to incur
3) Perhaps Bill is tired of running the show and just wants to make trades. J-anus will set him up in some pimp office digs and he will bring over some of his buds and his big boob admin and start Party 2.0
Im not really sure what is happening (but we will find out soon enough) but I can tell you something happened to get these guys to move
I would say, just buy more stawks
Narcissist!!!
Now he can be a two-faced narcissist.
A two faced narcissist is always admiring himself in the mirror.
So on the NAV list I'm seeing a lot of Fanne/Freddie, Italy, & Spain. DOH!
An unwind of those might have a wee bit of an effect.
Unwind CDS and MBS, unwind!
Wengaurdiam Crashiosum!
it's gotta suck holding periphery bonds with a declining euro on top of interest rate and default risk
Actually Buzz, the declining euro should be a positive for the PIGlets as they become more competitive with cheaper exports. Albeit their exports pale in comparison to Northern Europe.
"it's gotta suck holding periphery bonds with a declining euro on top of interest rate and default risk "
Word.
TIPS and short duration TRSy in a negative rate environment?
These fuckers get paid the big bux to flip the same shit every day and have the inside track?
The Clients are sitting ducks and should pull every penny but The FED and their Cronies will merely corner them at the next Shop or alone trying to navigate ETFs in the HFT shark tanks.
Total investment 105% of Net Assets?! MARGIN CALL!!
Next bale out !
Hay there!
stop horsing around...
Neigh, never!
No, neigh, never, nomore....
I recall when I would look at top holders of stocks 10 years back, seeing "Barclay's" in the top 10 of like, everything. Everything. Now, they're not.
PIMCO's sheer size and breadth of holdings strikes some similarities...
The character assassination phase for bill is coming. It means that they didn't want him running the fund. They're getting scared. "Erratic behavior"? These are mutual funds, not a nuclear power plant.
They're looking for scape goats and people around him were sharpening the knives.
PIMCO = TBTF - ZIRP = COLLAPSE x US$
Uncle Bill has built himself a nice big " House of Cards" there with those Spanish and Italian bonds. They're both listed in his TRF fund on the largest holdings page.
Hey Mr. Yellen do you see what a can of worms you've opened with ZIRP? You idiots at the Fed. have forced every yield chaser into complete shit paper looking for returns. There's a reason why this junk has a higher premium attached to it ya 'Moe Howard' looking retard!
I'll bet Bernie would take the job. Assuming he could work from home.
okay...so now what happens? He leaves Pimco..goes to Janus.. BFD. I am sure I am missing something...is this a piss in the wind or a Lehman moment?
AAANNNNNNNDDDDD again ekm1 is looking pretty prescient.
Gross was shown the door not flung off the roof.
no really...I wanna know. I don't think this means shit that he quit, got fired. so fucking what... I have also been known to be wrong. ;)
Without Bill Gross at the helm the centrifugal forces at PIMCO will end up shattering the fund. When the subaltern egos take over the show we have passed from the reign of Alexander to the feckless pretensions of the Ptolemies.
Tempest in a (silver-plated) teapot,
Regarding Silver, Cohan, Maguire, Jesse, et al.
If ALL those screaming to BTF(AG)D actually bought the truckloads they constantly SCREAM to buy, because silver is on sale, then my LCS wouldn't have all the inventory it has.
And I always notice lots of trucks in the parking lot but nobody is backing them up.
Thanks Grey ghost W270, Marco, and other commenters.
Hah! No wonder he bailed, that portfolio is a giant pile of dogshit.
Biggest ownings is inflation protected, when rates are working downward and likely to set new lows in the coming years.
then he owns a bunch of Fannie farts. He should be humiliated. Waste Mgt has better piles of manuer than this fund. Now that he's sunk PIMCO for the future, I guess he can work on taking Janus down too. good riddance to them both. Plus, I was tired of seeing his ugly lying face on bubblevision all the time; wait, oh, that probably won't change-- the "dude" loves the limelight like his Omaha doppleganger.
ooops.
Fund Name: ASIF
Coupon: 13.883%
Principal amount: $7B
Market value: $0.007B
...