Pimco Flexible Credit Income Fund

Sponsored by PIMCO. Interval Fund structure focused on private credit.

Interval FundPrivate Credit

Sponsor: PIMCO
CIK: 0001688554
Liquidity: Periodic repurchase offers at NAV
Inception: 2017

Net assets: $4.24B

source

Monthly portfolio report (Form N-PORT) · filed 2026-05-29 · period 2026-03-31

Net assets (N-PORT Part B, Item B.2)

Method Direct: read from a structured filing field

Open the filing on SEC.gov · Full observation history

Technical locator

NPORT-P netAssets | https://www.sec.gov/Archives/edgar/data/1688554/000109926326007343/xslFormNPORT-P_X01/primary_doc.xml
NAV / share: $7.11

source

Semiannual shareholder report (Form N-CSRS) · filed 2026-03-05 · period 2025-12-31

Consolidated Statement of Assets and Liabilities, PFLEX's own per-class block (identified as the largest-total-assets SAL in the bundled filing -- same block extract_pflex_leverage's accounting-identity reconciliation gate already verified): 'Net Asset Value Per Share Outstanding (a) : Institutional Class $ 7.11' (Class A-1 through A-4 disclose the identical value in this filing)

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

Consolidated Statement of Assets and Liabilities, PFLEX's own per-class block (identified as the largest-total-assets SAL in the bundled filing -- same block extract_pflex_leverage's accounting-identity reconciliation gate already verified): 'Net Asset Value Per Share Outstanding (a) : Institutional Class $ 7.11' (Class A-1 through A-4 disclose the identical value in this filing) | accession 0001193125-26-094229 | N-CSRS filed 2026-03-05
Net flows, last qtr: +6.4%
Distribution coverage (NII): Not disclosed
Leverage in use: Not captured
Total return, 12m: Insufficient history

01 / Signals

What changed in the latest filings.

Current findings ordered by severity. Each observation remains traceable to its filed source.

No current Urgent or Notify findings in filings reviewed through 2026-07-02.

Historical findings (6)

Redemptions prorated for the period ending 2023-08-09: 7.2% requested, only 94.1% of requests fulfilled. (2023-08-09)
Redemptions prorated for the period ending 2023-08-09: 7.2% requested, only 94.1% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Net outflow of 5.2% of NAV in the period ended 2023-11-30.
Net outflow of 5.2% of NAV in the period ended 2023-11-30. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 5.3% of NAV in the period ended 2023-08-31.
Net outflow of 5.3% of NAV in the period ended 2023-08-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 5.4% of NAV in the period ended 2022-11-30.
Net outflow of 5.4% of NAV in the period ended 2022-11-30. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Redemptions accelerated to $203.9M from $122.7M the prior period (period ended 2022-11-30).
Redemptions accelerated to $203.9M from $122.7M the prior period (period ended 2022-11-30). (Rule C14: Redemption acceleration: repurchase/redemption dollars up >= 25%; Notify.)

Net outflow of 5.3% of NAV in the period ended 2020-11-30.
Net outflow of 5.3% of NAV in the period ended 2020-11-30. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

02 / Trends

How the fund has moved.

Net asset value, total return, capital flows, and distribution coverage across the filing record.

Net capital flows, % of NAV

03 / Portfolio

What moved inside the book.

Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.

No structured portfolio-health series or position-change events have been captured for this fund.

04 / Redemptions

Where exit demand met the cap.

Rationed in 1 of 3 disclosed periods; last gated Q3 2023.

Requested redemptions versus cap

Period	Requested	Filled	Cap used	Status
2025-08-07	2.8%	100%	56%	filled
2024-08-07	4.3%	100%	86%	filled
2023-08-09	7.2%	94%	136%	rationed

05 / Financing

How the balance sheet is funded.

Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.

Borrowing source	Amount
Reverse repurchase agreements (repo borrowing)	$1,852,599,000
Total borrowings	$1,852,599,000

Synthetic exposure: gross notional $1,397,000 (0.0% of net assets), as of 2026-03-31. Audit

How to read these financing entries

Borrowings are balance-sheet obligations. An undrawn facility is standby liquidity and is not debt until used. Synthetic notional describes market exposure rather than an amount owed, while unconsolidated joint-venture carrying value is shown as context and is not added to fund debt.

06 / Share classes

How the offering is divided.

A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.

No filed share-class terms have been captured for this fund; ownership type is therefore not inferred.

Management fee: 1.30% of avg daily total managed assets lesser of 1.75pct net assets per year. source. Effective April 1, 2025, the Fund has agreed to pay to PIMCO an annual fee, payable monthly, in an amount equal to the LESSER OF (i) 1.30% of the Fund's average daily 'total managed assets' and (ii) 1.75% of the Fund's average daily net assets (excluding daily net assets attributable to any preferred shares that may be outstanding). 'Total managed assets' means the total assets of the Fund (including assets attributable to any reverse repurchase agreements, dollar rolls/buybacks, borrowings and preferred shares outstanding) minus accrued liabilities other than those representing such reverse repurchase agreements, dollar rolls/buybacks and borrowings. The Fund's own fee-table summary displays this structure's ceiling rate as '1.75% (3)', footnoted to the full lesser-of text above; the 1.30%-of-managed-assets leg is captured as numeric_value here to match the sibling PIMCO Flexible Emerging Markets Income Fund's own single-rate, managed-assets-basis convention in the same table.

07 / Sources

The evidence beneath the page.

Filed terms and recent documents remain available without crowding the primary research flow.

Term register (1)

Term	Description	Value	Effective
advisory_fee_schedule	Effective April 1, 2025, the Fund has agreed to pay to PIMCO an annual fee, payable monthly, in an amount equal to the LESSER OF (i) 1.30% of the Fund's average daily 'total managed assets' and (ii) 1.75% of the Fund's average daily net assets (excluding daily net assets attributable to any preferred shares that may be outstanding). 'Total managed assets' means the total assets of the Fund (including assets attributable to any reverse repurchase agreements, dollar rolls/buybacks, borrowings and preferred shares outstanding) minus accrued liabilities other than those representing such reverse repurchase agreements, dollar rolls/buybacks and borrowings. The Fund's own fee-table summary displays this structure's ceiling rate as '1.75% (3)', footnoted to the full lesser-of text above; the 1.30%-of-managed-assets leg is captured as numeric_value here to match the sibling PIMCO Flexible Emerging Markets Income Fund's own single-rate, managed-assets-basis convention in the same table.	1.3 pct_annual_of_avg_daily_total_managed_assets_lesser_of_1.75pct_net_assets	2025-04-01

Recent filings

Filed	Form	Accession
2026-07-02	N-23C3A	0001193125-26-293846
2026-05-29	NPORT-P	0001099263-26-007343
2026-04-01	N-23C3A	0001193125-26-136758
2026-03-05	N-CSRS	0001193125-26-094229
2026-03-02	NPORT-P	0001099263-26-003116
2026-01-02	N-23C3A	0001193125-26-000731
2025-11-26	NPORT-P	0001099263-25-004580
2025-10-06	N-23C3A	0001193125-25-231398
2025-09-05	N-CSR	0001193125-25-196888
2025-08-29	NPORT-P	0001688554-25-000032
2025-07-07	N-23C3A	0001193125-25-156047
2025-05-30	NPORT-P	0001688554-25-000020
2025-04-07	N-23C3A	0001193125-25-074359
2025-03-06	N-CSRS	0001193125-25-047448
2025-03-03	NPORT-P	0001688554-25-000007