Edgar Filing: PIMCO FLOATING RATE INCOME FUND

	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549	OMB APPROVAL
		OMB Number: 3235-0578 Expires: February 28, 2006 Estimated average burden hours per response........20.00


	FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number		811-21374

PIMCO FLOATING RATE INCOME FUND
(Exact name of registrant as specified in charter)

1345 Avenue of the Americas New York, New York			10105
(Address of principal executive offices)			(Zip code)

Lawrence G. Altadonna – 1345 Avenue of the Americas New York, New York 10105
(Name and address of agent for service)

Registrant's telephone number, including area code:		212-739-3371

Date of fiscal year end:	July 31, 2006

Date of reporting period:	October 31, 2005

Form N-Q is to be used by the registered management investment company, other than a small business investment company registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b 1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

PIMCO Floating Rate Income Schedule of Investments

October 31, 2005 (unaudited)

Principal
Amount
(000)			Value*

SENIOR LOANS (a)(b)(c)—65.8%
Aerospace—0.3%
		K & F Industries, Inc.,
$	1,275	6.10%, 11/18/12, Term B	$	1,290,140
625		6.45%, 11/18/12, Term B	632,422
			1,922,562

Apparel & Textiles—0.7%
2,691		Kosa Arteva DBA, 6.313%, 4/30/11, Term B1	2,736,949
1,168		Kosa Canada Co., 6.313%, 4/27/11, Term B2	1,187,471
			3,924,420

Automotive—1.4%
		Hayes Lemmerz International, Inc.,
599		6.76%, 6/3/09, Term B	597,645
174		6.91%, 6/3/09, Term B	173,317
3		6.96%, 6/3/09, Term B	2,988
286		7.12%, 6/3/09, Term B	285,375
292		7.31%, 6/3/09, Term B	292,099
449		7.34%, 6/3/09, Term B	448,234
20		7.49%, 6/3/09, Term B	20,162
299		7.67%, 6/3/09, Term B	298,822
		Visteon Corp.,
97		7.58%, 6/25/07	98,073
67		7.613%, 6/25/07	68,176
176		7.912%, 6/25/07	177,962
35		8.02%, 6/25/07	35,592
61		8.14%, 6/25/07	61,478
242		8.153%, 6/25/07	245,045
26		8.154%, 6/25/07	26,492
103		8.394%, 6/25/07	103,792
92		8.553%, 6/25/07	92,904
383		8.558%, 6/25/07	387,471
102		8.61%, 6/25/07	102,700
17		8.716%, 6/25/07	17,481
385		8.85%, 6/25/07	389,089
129		8.871%, 6/25/07	130,575
4,256		VWR International, Inc., 6.69%, 4/7/11, Term B	4,322,805
			8,378,277

Automotive Products—3.9%
		Cooper Standard Automotive, Inc.,
2,287		6.063%, 12/31/11, Term B	2,300,855
3,678		6.063%, 12/31/11, Term C	3,701,376
2,408		Delphi Corp., 10.30%, 6/14/11	2,510,274
		Goodyear Tire & Rubber Co.,
4,000		7.06%, 4/30/10	4,039,584
1,000		7.81%, 4/1/11	1,008,929
2,674		Polypore, Inc., 6.34%, 11/12/11, Term B	2,680,063
		Tenneco Automotive, Inc.,
1,795		6.08%, 12/12/10, Term B	1,825,546
789		6.11%, 12/12/10, Term B	801,930
3,474		TRW Automotive, Inc., 5.25%, 6/30/12, Term B	3,511,020
			22,379,577

Principal
Amount
(000)			Value*

Banking—1.1%
		Aster,
$	1,092	6.765%, 9/19/13	$	1,091,898
1,132		7.265%, 9/19/14	1,131,080
4,000		UPC Distribution Holding B.V., 6.554%, 9/30/12, Term H2	4,038,960
			6,261,938

Building/Construction—1.5%
		Masonite International Corp.,
3,426		5.66%, 4/6/13, Term B	3,416,773
62		6.02%, 4/6/13, Term B	61,810
		Nortek, Inc.,
4,895		6.02%, 8/27/11	4,952,955
12		8.00%, 8/27/11	12,517
			8,444,055

Chemicals—3.5%
2,500		Brenntag AG, 6.81%, 2/27/12, Term B2	2,512,187
2,985		Celanese AG, 6.313%, 4/6/11, Term B	3,032,158
		Cognis BV,
1,992		5.94%, 3/31/13, Term C1	2,021,817
1,149		6.371%, 5/12/12, Term B1	1,164,939
990		Haarmann & Reimer, 10/1/09 (f)	979,704
		Hercules, Inc.,
95		5.77%, 10/8/10, Term B	96,211
1,875		5.86%, 10/8/10, Term B	1,898,906
1,070		Huntsman International LLC, 5.72%, 8/10/12	1,077,411
		KRATON Polymers Group LLC,
784		6.188%, 12/2/09	796,742
56		6.50%, 12/2/09	56,458
1,778		6.50%, 12/23/10	1,806,666
309		6.625%, 12/2/09	313,600
		Nalco Co.,
1,867		5.66%, 11/4/10, Term B	1,897,684
1,270		5.87%, 11/1/10, Term B	1,291,103
1,440		5.96%, 11/1/10, Term B	1,463,250
			20,408,836

Computer Services—0.6%
3,491		SunGard Data Systems, Inc., 6.28%, 1/22/13	3,525,963

Computer Software—0.6%
		UGS Corp.,
24		5.84%, 3/31/12, Term B	24,488
3,225		6.08%, 3/31/12, Term B	3,276,442
			3,300,930

Consumer Products—2.7%
		Eastman Kodak Co.,
2,500		10/18/10 (f)	2,491,875
2,000		10/18/12, Term B (f)	1,993,500
		Jarden Corp.,
426		5.635%, 1/21/12, Term B	429,624
3,591		6.02%, 1/21/12, Term B	3,622,266
		Rayovac Corp.,
321		5.94%, 2/7/12, Term B	323,350
207		6.02%, 2/6/12, Term B	208,992
166		6.09%, 2/7/12, Term B	167,235
1,375		6.11%, 2/6/12, Term B	1,387,066

Principal
Amount
(000)			Value*

Consumer Products—(continued)
		Revlon, Inc.,
$	750	9.49%, 7/31/10	$	774,844
750		9.92%, 7/31/10	774,844
375		9.98%, 7/9/10	387,422
750		10.11%, 7/31/10	774,844
		Sealy Mattress Co.,
708		5.62%, 4/14/13, Term D	715,266
1,049		5.747%, 4/1/13, Term D	1,060,377
12		6.75%, 4/1/13, Term D	12,521
		Spectrum Brands Corp.,
458		5.79%, 2/6/12, Term B	461,928
344		5.92%, 2/7/12, Term B	346,445
114		6.06%, 2/7/12, Term B	115,482
			16,047,881

Containers—4.9%
		Graham Packaging Co.,
347		6.36%, 8/9/10, Term C	350,387
1,517		6.375%, 10/7/11, Term B	1,538,103
31		6.42%, 8/9/10	31,853
31		6.42%, 8/9/10, Term C	31,853
31		6.45%, 8/9/10, Term C	31,853
410		6.503%, 8/9/10, Term C	413,994
2,774		6.554%, 8/9/10, Term C	2,803,097
14		6.563%, 9/15/11, Term B	13,939
25		6.57%, 8/9/10, Term C	25,483
3,928		6.625%, 9/15/11, Term B	3,981,766
3,980		Horizon Lines LLC, 6.52%, 7/7/11	4,042,034
		Intertape Polymer Group, Inc.,
188		5.978%, 7/28/11, Term B	190,234
1,110		6.084%, 7/28/11, Term B	1,126,187
187		6.38%, 7/28/11, Term B	190,234
1,296		Owens-Illinois Group, Inc., 5.78%, 4/1/08, Term B	1,308,067
		Solo Cup Co.,
184		5.00%, 2/27/11, Term B	184,684
1,846		5.86%, 2/27/11, Term B	1,853,964
1,939		6.02%, 2/27/11, Term B	1,947,568
		Stone Container Corp.,
742		3.616%, 11/1/10	751,816
2,890		5.563%, 11/1/11, Term B	2,927,153
2,998		5.875%, 11/1/10, Term B	3,036,151
595		5.875%, 11/1/10, Term C	602,377
1,217		5.875%, 11/1/11, Term C	1,232,486
			28,615,283

Diversified Manufacturing—0.4%
2,294		Invensys PLC, 7.791%, 9/5/09, Term B1	2,316,959

Drugs & Medical Products—0.7%
		Warner Chilcott PLC,
1,369		6.46%, 1/18/12, Term B	1,376,010
497		6.77%, 1/18/12	498,972
1,298		6.77%, 1/18/12, Term B	1,304,442
1,075		6.77%, 1/18/12, Term C	1,080,092
			4,259,516

Principal
Amount
(000)			Value*

Energy—3.2%
		Covanta Energy Corp.,
$	564	3.85%, 6/24/12	$	572,037
265		3.89%, 6/24/12	269,152
669		6.46%, 6/30/12, Term B	678,673
750		9.141%, 5/12/13, Term DHC	750,937
750		9.33%, 5/12/13, Term DHC	750,937
		Foundation Coal Holdings, Inc.,
1,704		5.66%, 7/30/11, Term B	1,733,911
1,060		6.16%, 7/30/11, Term B	1,078,878
		Headwaters, Inc.,
5,011		6.43%, 4/30/11, Term B	5,072,967
116		7.75%, 4/30/11, Term B	117,247
		NRG Energy, Inc.,
1,969		3.92%, 12/24/11	1,982,695
2,502		5.255%, 12/24/11, Term B	2,520,147
10		5.365%, 12/24/11, Term B	9,913
		Targa Resources, Inc., (f)
1,500		10/5/07	1,507,500
290		10/5/11	291,774
1,210		10/5/12, Term B	1,215,726
			18,552,494

Entertainment—1.7%
5,300		MGM Studios, 6.270%, 4/8/12, Term B	5,351,346
		Warner Music Group, Inc.,
1,261		5.52%, 2/28/11, Term B	1,274,999
1,125		5.83%, 2/27/11, Term B	1,137,773
929		5.86%, 2/27/11, Term B	939,969
920		6.19%, 2/27/11, Term B	930,569
194		6.371%, 2/27/11, Term B	195,827
			9,830,483

Finance—0.4%
		Satbirds Finance,
€	500	4.586%, 4/4/12, Term A	595,721
1,250		5.086%, 4/4/13, Term B	1,497,562
400		6.372%, 10/4/13 (g)	466,473
			2,559,756

Financial Services—0.6%
$	3,687	Global Cash Access LLC, 6.331%, 3/10/10, Term B	3,743,318

Financing—0.8%
		Weather Invest Bridge,
€	3,390	8.62%, 12/17/14	4,053,832
610		8.62%, 12/17/14 (g)	721,460
			4,775,292

Food Services—1.4%
$	4,000	Arby’s Restaurant Group, Inc., 6.091%, 7/25/12, Term B	4,028,752
4,000		Michael Foods, Inc., 6.59%, 11/30/11, Term C	4,057,500
			8,086,252

Principal
Amount
(000)			Value*

Funeral Services—0.1%
		Alderwoods Group, Inc.,
$	177	5.48%, 9/17/08, Term B	$	179,225
43		5.84%, 9/17/08, Term B	43,736
102		6.058%, 9/17/08, Term B	103,843
149		6.117%, 9/17/09, Term B	151,153
			477,957

Healthcare & Hospitals—4.2%
		Beverly Enterprises, Inc.,
356		6.36%, 10/30/08, Term B	356,778
1,037		6.39%, 10/30/08, Term B	1,040,602
567		6.71%, 10/30/08, Term B	569,358
3,980		Community Health Systems, Inc., 5.61%, 8/19/11, Term B	4,035,037
		DaVita, Inc., Term B,
593		6.25%, 5/16/12	603,302
5,101		6.35%, 5/16/12	5,182,209
411		6.40%, 5/16/12	417,671
1,355		6.54%, 5/16/12	1,376,766
4,500		HEALTHSOUTH Corp., 8.97%, 6/9/10	4,533,750
		PacifiCare Health Systems, Inc.,
1,324		5.125%, 12/17/08	1,328,783
282		5.188%, 12/17/08	282,729
876		5.625%, 12/17/08	879,559
2,000		Psychiatric Solutions, Inc., 5.73%, 7/7/12, Term B	2,023,750
2,000		Renal Advantage, Inc., 6.44%, 10/6/12, Term B	2,023,126
			24,653,420

Hotels/Gaming—2.6%
		Aladdin Gaming, Inc.,
2,286		5.305%, 8/31/10, Term A	2,287,021
49		8.055%, 8/31/10, Term B	49,077
744		Host Marriott LP, 6.23%, 9/10/08 (g)	744,195
341		MotorCity Casino,
		5.841%, 7/21/12, Term B	344,212
2,655		5.961%, 7/21/12, Term B	2,681,066
2,000		Penn National Gaming, Inc., 7.75%, 5/26/12, Term B	2,027,500
1,990		Resorts International, Inc., 6.53%, 3/22/12, Term B	1,993,483
1,000		Venetian Casino, 5.770%, 2/22/12, Term B	1,009,453
4,000		Wynn Resorts Ltd., 6.195%, 12/14/11, Term B	4,047,500
			15,183,507

Household Products—0.7%
		Springer S.A., (g)
1,000		6.541%, 9/16/11, Term B2	1,009,166
2,800		7.041%, 9/16/12, Term C2	2,840,078
			3,849,244

Leasing—0.3%
		United Rentals, Inc.,
333		3.65%, 2/14/11, Term LC	335,922
1,642		6.32%, 2/14/11, Term B	1,658,616
			1,994,538

Principal
Amount
(000)			Value*

Machinery—1.3%
$	2,277	Agco Corp., 5.770%, 1/31/06, Term B	$	2,310,817
		Flowserve Corp.,
833		4.063%, 8/15/12	845,573
1,000		5.813%, 8/10/12	1,014,688
167		5.813%, 8/15/12	169,115
		Mueller Industries, Inc., Term B,
429		6.11%, 9/28/12	434,809
238		6.21%, 9/28/12	241,560
95		6.304%, 9/28/12	96,624
238		6.466%, 9/28/12	241,560
		Rexnord Corp.,
37		5.85%, 12/31/11, Term B	37,963
825		6.07%, 12/31/11, Term B	835,182
1,022		6.21%, 12/31/11, Term B	1,035,350
			7,263,241

Manufacturing—0.4%
		Berry Plastics Corp.,
5		5.766%, 7/22/10	5,096
2,009		6.105%, 6/30/10	2,033,537
			2,038,633

Measuring Instruments—1.0%
		Dresser, Inc.,
256		5.841%, 10/29/11, Term B	260,677
205		5.938%, 10/29/11, Term B	208,541
513		6.078%, 10/29/11, Term B	521,354
689		6.134%, 10/29/11, Term B	700,275
4,000		6.91%, 3/1/10	4,040,000
			5,730,847

Media—0.4%
€	2,000	Ekabel Hessen GMBH, 6/7/12, Term A (f)	2,382,398

Metals & Mining—0.5%
		Novelis, Inc.,
$	1,647	5.46%, 1/7/12, Term B	1,667,253
949		5.46%, 1/7/12, Term B2	959,933
			2,627,186

Multi-Media—4.5%
1,000		Atlantic Broadband, Inc., 6.52%, 8/4/12, Term B	1,017,500
		Charter Communications Operating LLC,
1,998		6.60%, 4/26/10, Term A	1,997,183
16		7.42%, 4/27/11, Term B	16,218
6,366		7.50%, 4/27/11, Term B	6,390,089
		DirectTV Holdings LLC,
1,500		5.386%, 4/13/13, Term B	1,515,000
1,500		5.47%, 4/13/13, Term B	1,515,000
2,905		Insight Midwest Holdings LLC, 6.063%, 12/31/09, Term B (g)	2,916,486
3,000		Primedia, Inc., 6.114%, 9/30/13, Term B	2,940,939
3,990		Telcordia Technologies, Inc., 6.61%, 9/9/12, Term B	3,957,581

Principal
Amount
(000)			Value*

Multi-Media—(continued)
		Young Broadcasting, Inc.,
$	3,350	5.688%, 11/3/12, Term B	$	3,378,616
19		5.75%, 5/2/12, Term B	18,910
625		6.00%, 5/2/12, Term B	630,339
			26,293,861

Office Equipment—0.4%
2,000		Xerox Corp., 5.83%, 9/30/08, Term B	2,020,000

Oil & Gas—2.3%
		El Paso Corp.,
4,500		3.50%, 11/23/09, Term LC	4,533,439
2,440		6.813%, 11/23/09, Term B	2,461,425
		Kerr McGee Corp.,
1,750		6.26%, 5/1/07	1,755,000
2,494		6.51%, 5/1/11, Term B	2,505,284
2,081		Kinetic Concepts, Inc., 5.78%, 8/11/10, Term B	2,106,095
			13,361,243

Paper/Paper Products—1.2%
		Appleton Papers, Inc.,
1,172		5.73%, 6/11/10	1,186,790
1,147		6.33%, 6/9/10	1,160,438
		Boise Cascade Holdings, Inc.,
368		5.594%, 10/28/11, Term D	373,255
2,357		5.781%, 10/28/11, Term D	2,392,663
		Buckeye Technologies, Inc.,
350		5.42%, 11/4/10, Term B	351,658
201		5.66%, 11/4/10, Term B	201,687
206		5.73%, 11/4/10, Term B	206,858
136		5.91%, 11/4/10, Term B	136,981
144		5.97%, 11/4/10, Term B	144,801
411		6.01%, 11/4/10, Term B	413,716
167		6.02%, 11/4/10, Term B	168,072
411		6.29%, 11/4/10, Term B	413,716
			7,150,635

Printing/Publishing—1.8%
		Dex Media East LLC,
771		5.46%, 5/8/09, Term B	775,689
568		5.50%, 5/8/09, Term B	570,835
128		5.77%, 11/8/08, Term B	128,338
258		5.87%, 5/8/09, Term B	259,470
293		5.92%, 5/8/09, Term B	294,665
243		5.93%, 5/8/09, Term B	244,381
		Dex Media West LLC,
684		5.49%, 9/9/10, Term B	688,556
372		5.75%, 9/9/10, Term B	374,462
722		5.81%, 9/9/10, Term B	726,504
439		5.84%, 9/9/10, Term B	441,886
516		5.87%, 9/9/10, Term B	518,651
213		5.93%, 9/9/10, Term B	214,520
		RH Donnelly Corp.,
409		5.30%, 6/30/11, Term D	412,641
546		5.52%, 6/30/11, Term D	550,187
682		5.62%, 6/30/11, Term D	687,734

Principal
Amount
(000)			Value*

Printing/Publishing—(continued)
$	409	5.64%, 6/30/11, Term D	$	412,641
137		5.67%, 6/30/11, Term D	137,547
546		5.71%, 6/30/11, Term D	550,187
116		5.72%, 12/31/09, Term A3	117,093
137		5.75%, 6/30/11, Term D	137,547
786		5.78%, 12/31/09, Term A3	792,127
901		5.78%, 6/30/11, Term D	908,188
136		5.81%, 6/30/11, Term D	137,547
258		5.92%, 12/31/09, Term A3	259,621
			10,341,017

Real Estate—0.8%
		General Growth Properties, Inc.,
887		5.60%, 11/12/07, Term A	891,296
3,974		6.09%, 11/12/08, Term B	4,022,882
			4,914,178

Recreation—1.5%
		Loews Cineplex Entertainment Corp.,
2,328		5.97%, 7/8/11	2,343,470
2,619		6.35%, 7/22/11	2,635,802
		Six Flags Theme Parks, Inc.,
682		6.50%, 6/30/09, Term B	690,772
1,106		6.84%, 6/30/09, Term B	1,119,510
		Worldspan LP,
80		6.50%, 2/11/10, Term B	78,400
924		6.563%, 2/11/10, Term B	905,956
169		6.688%, 2/11/10, Term B	165,511
89		6.75%, 2/11/10, Term B	87,111
440		6.813%, 2/11/10, Term B	431,200
			8,457,732

Retail—0.8%
2,868		Dominos, Inc., 5.813%, 6/25/10, Term B	2,917,873
1,980		Jean Coutu Group, Inc., 5.938%, 7/30/11, UNIT	2,004,596
			4,922,469

Semi-Conductors—0.5%
2,978		On Semiconductor Corp., 7.063%, 12/3/11, Term G	3,019,373

Telecommunications—3.7%
		Centennial Cellular Communications Corp.,
166		5.77%, 1/20/11	167,991
106		6.11%, 1/20/11	107,514
1,667		6.27%, 1/20/11	1,679,910
500		6.45%, 1/20/11	503,973
1,500		6.45%, 2/9/11	1,511,919
		Consolidated Communications, Inc.,
2,091		6.052%, 9/18/11, Term B	2,119,930
2,353		6.27%, 10/14/11, Term B	2,384,922
1,500		Intersat Bridge, 4/24/06 (f)(g)	1,498,596
		Mediacom Broadband LLC,
1,600		5.87%, 2/28/14, Term B	1,626,750
340		6.03%, 2/28/14, Term B	345,684
1,000		6.07%, 2/28/14, Term B	1,000,208
1,040		6.23%, 2/28/14, Term B	1,056,250

Principal
Amount			Credit Rating
(000)			(Moody’s/S&P)	Value*

Telecommunications—(continued)
$	243	New Skies Satellites NV, 6.25%, 5/4/11		$	246,712
1,739		New Skies Satellites, NV, 6.438%, 5/4/11, Term B		1,762,114
		PanAmSat Corp.,
1,316		5.781%, 8/20/09, Term A1		1,330,281
688		5.781%, 8/20/09, Term A2		695,565
		Valor Telecommunications Enterprises LLC,
1,346		5.77%, 2/14/12, Term B		1,363,770
2,078		5.811%, 2/14/12, Term B		2,105,840
				21,507,929

Tobacco—0.2%
1,171		Commonwealth Brands, Inc, 6.875%, 8/28/07, Term B		1,193,175

Utilities—3.4%
		AES Corp.,
786		5.07%, 4/30/08, Term B		796,420
786		5.69%, 8/10/11, Term B		796,420
		Allegheny Energy, Inc.,
515		5.636%, 3/8/11		516,910
878		5.76%, 3/8/11, Term C		888,229
3,490		5.808%, 3/8/11, Term C		3,532,182
257		5.918%, 3/8/11		258,456
		Edison Midwest LLC,
765		5.12%, 4/27/11		775,733
2,000		6.05%, 4/27/11, Term B		2,026,562
		Midwest Generation LLC,
960		5.41%, 4/27/11, Term B		972,750
161		5.55%, 4/27/11		163,372
		Reliant Resources, Inc.,
8,308		6.088%, 4/30/10		8,344,038
625		6.426%, 4/30/10		627,541
				19,698,613

Waste Disposal—1.6%
		Allied Waste North America, Inc.,
2,542		2.00%, 1/15/12		2,558,661
1,078		5.52%, 1/15/12		1,085,383
3,338		6.09%, 1/15/12		3,360,028
1,284		6.20%, 1/15/12		1,292,318
1,027		6.21%, 1/15/12		1,033,855
				9,330,245

Wholesale—0.4%
2,011		Roundy’s, Inc., 6.00%, 6/6/09, Term B1		2,027,875

Wire & Cable Products—0.8%
		Pirelli Cable,
€	1,000	4.874%, 6/23/13, Term B		1,201,278
€	1,000	5.124%, 6/23/14, Term C		1,211,224
$	2,000	UPC Broadband Holdings, 4.600%, 4/1/10 (e)		2,374,539
				4,787,041

		Total Senior Loans (cost—$379,974,635)		382,560,149

Principal
Amount				Credit Rating
(000)				(Moody’s/S&P)	Value*

CORPORATE BONDS & NOTES—21.7%
Air-Conditioning—0.5%
$		3,000	Goodman Global Holding Co., Inc., 6.41%, 6/15/12, FRN (d)	B3/B-	$	2,955,000

Airlines—0.6%
1,139			Delta Air Lines, Inc., 7.379%, 5/18/10, Ser. 00-1	Ba2/BB	1,110,002
			JetBlue Airways Corp., FRN,
1,750			6.89%, 5/15/10, Ser. 04-2	Ba1/BB	1,739,614
586			8.12%, 9/15/09, Ser. 04-1	Ba1/BB	592,087
					3,441,703

Automotive—0.3%
2,000			Dura Operating Corp., 8.625%, 4/15/12, Ser. B	Caa1/B-	1,705,000

Computer Services—0.4%
2,000			SunGard Data Systems, Inc., 8.525%, 8/15/13, FRN (d)	B3/B-	2,060,000

Energy—0.6%
1,222			Calpine Corp., 9.90%, 7/15/07, FRN (d)	B/B-	953,062
2,500			Dynegy Holdings, Inc., 10.65%, 7/15/08, FRN (d)	B3/B-	2,656,250
					3,609,312

Financing—1.9%
4,000			Borden US Finance Corp., 8.90%, 7/15/10, FRN (d)	B3/B-	3,990,000
1,500			Chukchansi Economic Development Authority, 7.966%, 11/15/12, FRN (b)(d)(e)	B2/NR	1,500,000
3,000			General Motors Acceptance Corp., 6.07%, 12/1/14, FRN	Ba1/BB	2,824,497
2,500			Universal City Florida Holding Co., 8.443%, 5/1/10, FRN	B3/B-	2,571,875
					10,886,372

Forestry—0.3%
2,000			GP Canada Finance Co., 7.20%, 12/15/06 (d)	Ba2/BB+	2,030,000

Healthcare & Hospitals—0.3%
2,000			HCA, Inc., 5.50%, 12/1/09	Ba2/BB+	1,958,230

Hotels/Gaming—0.6%
1,250			La Quinta Corp., 7.00%, 8/15/07	Ba2/BB	1,275,000
2,000			Mandalay Resort Group, 7.625%, 7/15/13	Ba3/B+	2,065,000
					3,340,000

Insurance—0.3%
1,500			Parametric Re Ltd., 7.78%, 5/19/08, FRN (b)(d)	Ba2/NR	1,549,545

Multi-Media—4.4%
€	2,000		Cabelcom Luxembourg, 4.935%, 4/15/12, FRN (d)	B2/B	2,396,101
			Cablevision Systems Corp.,
$		2,000	8.00%, 4/15/12, Ser. B	B3/B+	1,920,000
5,000			8.716%, 4/1/09, Ser. B, FRN	B3/B+	5,137,500
			CCO Holdings LLC,
4,000			7.995%, 12/15/10, FRN	B3/CCC-	3,910,000
1,000			8.75%, 11/15/13	B3/CCC-	967,500

Principal
Amount				Credit Rating
(000)				(Moody’s/S&P)	Value*

Multi-Media—(continued)
$	4,000	Charter Communications Holdings II LLC, 10.25%, 9/15/10		Caa1/CCC-	$	4,030,000
5,665		Echostar DBS Corp., 7.304%, 10/1/08, FRN		Ba3/BB-	5,806,625
1,500		Emmis Communications Corp., 9.745%, 6/15/12, FRN		B3/B-	1,511,250
					25,678,976

Paper/Paper Products—1.1%
		Abitibi-Consolidated, Inc.,
2,000		5.25%, 6/20/08		Ba3/BB-	1,860,000
1,000		7.37%, 6/15/11, FRN		Ba3/BB-	945,000
3,000		Boise Cascade, Inc., 7.025%, 10/15/12, FRN		B1/B+	2,910,000
1,000		Bowater, Inc., 6.87%, 3/15/10, FRN		Ba3/BB	980,000
					6,695,000

Semi-Conductors—0.9%
2,000		Freescale Semiconductor, Inc., 6.90%, 7/15/09, FRN		Ba2/BB+	2,055,000
3,500		MagnaChip Semiconductor Finance Co., 7.12%, 12/15/11, FRN		Ba3/B+	3,456,250
					5,511,250

Telecommunications—8.4%
2,000		Cincinnati Bell, Inc., 8.375%, 1/15/14		B3/B-	1,955,000
3,000		Dobson Cellular Systems, Inc., 8.443%, 11/1/11, FRN		B1/B-	3,127,500
2,250		Hawaiian Telcom Communications, Inc., 8.914%, 5/1/13, FRN (d)		B3/B-	2,210,625
2,500		Intelsat Bermuda Ltd., 8.695%, 1/15/12, FRN (d)		B2/B+	2,543,750
2,500		New Skies Satellites, NV, 8.539%, 11/1/11, FRN		B3/B-	2,575,000
2,000		Qwest Capital Funding, Inc., 7.90%, 8/15/10		B3/B	2,000,000
12,000		Qwest Communications International, Inc., 7.29%, 2/15/09, FRN		B2/B	12,090,000
10,000		Qwest Services Corp., 13.50%, 12/15/10		B3/B	11,475,000
3,500		Rogers Wireless Communications, Inc., 6.995%, 12/15/10, FRN		Ba3/BB	3,640,000
		Rural Cellular Corp.,
2,000		8.25%, 3/15/12		B2/B-	2,090,000
2,000		8.37%, 3/15/10, FRN		B2/B-	2,055,000
3,000		Time Warner Telecom Holdings, Inc., 7.79%, 2/15/11, FRN		B2/CCC+	3,075,000
					48,836,875

Tobacco—0.2%
1,000		Commonwealth Brands, Inc., 11.842%, 4/15/08, FRN (d)		B-/B2	1,047,500

Utilities—0.7%
2,000		CMS Energy Corp., 7.75%, 8/1/10		B1/B+	2,120,000
1,759		NRG Energy, Inc., 8.00%, 12/15/13		B1/B	1,926,105
					4,046,105

Wire & Cable Products—0.2%
1,000		Superior Essex Communications LLC, 9.00%, 4/15/12		B3/B	990,000

		Total Corporate Bonds & Notes (cost—$126,334,147)			126,340,868

SOVEREIGN DEBT OBLIGATIONS—2.8%
Brazil—2.8%
			Federal Republic of Brazil,
2,594			5.25%, 4/15/09, FRN	Ba3/BB-	2,568,375
7,953			5.25%, 4/15/12, FRN	Ba3/BB-	7,778,879
5,000			11.00%, 8/17/40	Ba3/BB-	6,013,750

			Total Sovereign Debt Obligations (cost—$15,462,657)		16,361,004

Principal
Amount			Credit Rating
(000)			(Moody’s/S&P)	Value*

ASSET-BACKED SECURITIES—0.7%
$	222	CDC Mortgage Capital Trust, 4.388%, 10/25/33, FRN	Aaa/AAA	$	221,885
		Credit-Suisse First Boston Mortgage Securities Corp., FRN,
829		4.388%, 7/25/32	Aaa/AAA	831,084
1,084		4.408%, 8/25/32	Aaa/AAA	1,088,085
1,569		GSAMP Trust, 4.328%, 3/25/34, FRN	Aaa/AAA	1,569,417
436		Jade CBO Ltd., 7.67%, 10/24/11 (d)(g)	B2/B2	335,776
86		Long Beach Mortgage Loan Trust, 4.358%, 6/25/33, FRN	Aaa/AAA	86,338

		Total Asset-Backed Securities (cost—$4,111,810)		4,132,585

MORTGAGE-BACKED SECURITIES—0.5%
3,090		Mellon Residential Funding Corp.,
		4.32%, 11/15/31, FRN (cost—$3,090,070)	Aaa/AAA	3,093,538

PREFERRED STOCK—0.6%

Shares

Finance—0.6%
3,600		Fannie Mae, 7.00%, Ser. O, FRN	Aa3/AA-	198,000
30		Richmond Cnty. Corp., 7.55%, FRN (b)(d)	NA/NA	3,022,500

		Total Preferred Stock (cost—$3,248,307)		3,220,500

SHORT-TERM INVESTMENTS—8.0%

Principal
Amount
(000)

Corporate Notes—3.3%
Chemicals—0.3%
$	1,500	Arco Chemical Co., 9.375%, 12/15/05	B1/BB-	1,513,125

Financing—2.9%
8,300		DNB NOR Bk ASA, 3.80%, 1/13/06	NR/NR	8,229,948
2,500		General Electric Capital Corp., 4.13%, 1/25/06	NR/NR	2,475,325
1,000		General Motors Acceptance Corp., 4.677%, 5/18/06, FRN	Ba1/BB	994,315
5,500		Societe Generale North America, Inc., 3.96%, 1/27/06	NR/NR	5,444,395
				17,143,983

Telecommunications—0.1%
500		Qwest Capital Funding, Inc., 7.75%, 8/15/06	B3/B	510,000

		Total Corporate Notes (cost—$19,166,679)		19,167,108

Commercial Paper—2.9%
Banking—0.3%
1,800		Danske Corp., 4.03%, 2/6/06	NR/NR	1,779,642

Principal
Amount			Credit Rating
(000)			Moody’s/S&P	Value*

Financing—2.6%
		UBS Finance, Inc.,
$	2,000	3.78%, 12/22/05	P-1/A-1+	$	1,989,290
3,100		3.785%, 12/23/05	P-1/A-1+	3,083,052
3,700		4.11%, 2/22/06	NR/NR	3,651,012
6,400		4.155%, 2/28/06	NR/NR	6,310,592
				15,033,946

		Total Commercial Paper (cost—$16,817,162)		16,813,588

U.S. Treasury Bills (h)—0.4%
2,520		3.29%-3.58%,12/1/05-12/15/05 (cost—$2,509,813)		2,509,813

Repurchase Agreements—1.4%
7,792		State Street Bank & Trust Co.,
		dated 10/31/05, 3.40%, due 11/1/05,
		proceeds $7,792,736: collateralized by
		Fannie Mae, 2.10%, 2/13/06, valued at
		$7,952,352 with accrued interest (cost—$7,792,000)		7,792,000

		Total Short-Term Investments (cost—$46,285,654)		46,282,509

OPTIONS PURCHASED (i)—0.0%

Contracts
		Call Options—0.0%
		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade,
713		strike price $117, expires 11/22/05		11,141

		Put Options—0.0%
		Eurodollar Futures, Chicago Mercantile Exchange,
527		strike price $95.38, expires 12/19/05		3,294
		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade,
713		strike price $103, expires 11/22/05		11,140
110		strike price $101, expires 12/23/05		1,719
280		strike price $102, expires 12/23/05		4,375
				20,528

		Total Options Purchased (cost—$39,284)		31,669

		Total Investments before options written (cost—$578,546,564)—100.1%		582,022,822

OPTIONS WRITTEN (i)—(0.1)%
		Call Options—(0.0)%
		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade,
200		strike price $112, expires 11/22/05		(3,125		)
467		strike price $112, expires 2/24/06		(80,266		)
174		strike price $113, expires 11/22/05		(2,719		)
250		strike price $113, expires 12/23/05		(3,906		)
210		strike price $114, expires 11/22/05		(3,281		)
				(93,297		)

Contracts		Value*

	Put Options—(0.1)%
	U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade,
560	strike price $106, expires 12/23/05	$	(105,000	)
250	strike price $107, expires 12/23/05	(97,656		)
237	strike price $107, expires 2/24/06	(181,453		)
		(384,109		)

	Total Options Written (premiums—$446,761)	(477,406		)

	Total Investments net of options written (cost—$578,099,803)—100.0%	$	581,545,416

	NOTES TO SCHEDULE OF INVESTMENTS:

	*	Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Portfolio securities and other financial instruments for which market quotations are not easily available or if a development / event occurs that may impact the value of a security, may be fair-valued pursuant to procedures established by the Board of Trustees, including certain fixed income securities which may be valued with reference to securities whose prices are more readily available. The Fund’s investments are valued weekly by an independent pricing service or are valued at the last sale price on the exchange that is the primary market for such securities, or the last quoted bid 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. Independent pricing services use information provided by market makers or estimates of market value obtained from yield data relating to investments or securities with similar characteristics for which a secondary market exists. Senior Loans for which a secondary market does not exist, are valued at fair-value by Pacific Investment Management Company LLC, the Fund’s Sub-Adviser, pursuant to procedures approved by the Board of Trustees. Such procedures may include consideration and evaluation of : (1) the creditworthiness of the borrower and any intermediate participants; (2) the term of the Senior Loan; (3) recent prices in the market for similar loans, if any; (4) recent prices in the market for loans of similar quality, coupon rate, and period until next interest rate reset and maturity; and (5) general economic and market conditions affecting the fair-value of the Senior Loan. Exchange traded options are valued at the settlement price determined by the relevant exchange. Short-term investments 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. The Fund’s net asset value is determined weekly at the close of regular trading (normally, 4:00 p.m. Eastern time) on the New York Stock Exchange on the last business day of the week.
	(a)	Private Placement. Restricted as to resale and may not have a readily available market.
	(b)	Illiquid security.
	(c)	These securities generally pay interest at rates which are periodically pre-determined by reference to a base
		lending rate plus a premium. These base lending rates are generally either the lending rate offered by one or more
		major European banks, such as the “LIBOR” or the prime rate offered by one or more major United States banks,
		or the certificate of deposit rate. These securities are generally considered to be restricted as the Fund is ordinarily
		contractually obligated to receive approval from the Agent bank and/or borrower prior to disposition. Remaining
		maturities of senior loans may be less than the stated maturities shown as a result of contractual or optional
		payments by the borrower. Such prepayments cannot be predicted with certainty.
	(d)	144A Security—Security 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 settled/delivered after October 31, 2005.
	(f)	Unsettled security, coupon rate undetermined at October 31, 2005.
	(g)	Fair-valued security.
	(h)	All or partial amount segregated as collateral for futures contracts, when-issued or delayed-delivery securities.
	(i)	Non-income producing.

Glossary

€ - Euros

FRN - Floating Rate Note. The interest rate disclosed reflects the rate in effect on October 31, 2005.

LIBOR - London Inter-Bank Offered Rate

NR - Not Rated

UNIT - More than one class of securities traded together.

Other Investments:

(1) Credit default swap contracts outstanding at October 31, 2005:

	Notional Amount			Fixed Payments		Unrealized
Swap Counterparty/	Payable on Default		Termination	Received (Paid)		Appreciation
Referenced Debt Obligation	(000)		Date	by Fund		(Depreciation)

Bank of America
AES Corp.	$	1,000	12/20/07	1.50	%	$	228
Allied Waste North American, Inc.	600		9/20/09	2.75	%	4,977
Bombardier, Inc.	3,000		12/20/05	2.00	%	9,213
Bombardier, Inc.	1,400		6/20/10	3.80	%	(17,780		)
MCI, Inc.	875		9/20/07	4.57	%	74,510
Williams Co.	875		9/20/09	2.05	%	26,648
Bear Stearns
Georgia-Pacific Corp.	700		9/20/09	1.24	%	6,918
Host Marriot L.P.	700		9/20/09	1.95	%	1,142
MGM Mirage	1,500		9/20/09	1.92	%	(2,487		)
Citibank
Allied Waste North American, Inc.	1,500		9/20/07	2.18	%	(17,794		)
Crown Cork	1,500		9/20/07	2.38	%	13,313
Host Marriot L.P.	900		9/20/07	1.90	%	14,307
Owens Illinois Group	3,000		9/20/07	2.05	%	(10,050		)
Starwood Hotels & Resort Worldwide, Inc.	1,500		9/20/07	1.20	%	15,018
Credit Suisse First Boston
AES Corp.	900		9/20/09	3.85	%	53,813
Allied Waste North American, Inc.	875		9/20/09	2.46	%	(925		)
Delhaize Group	875		9/20/09	1.40	%	11,875
Intelsat Bermuda Ltd.	3,000		3/20/10	3.21	%	(331,825		)
GAZ Capital	5,000		4/20/06	0.72	%	8,073
Samis	1,400		9/20/08	2.45	%	15,913
Samis	1,960		9/20/08	2.45	%	28,158
Samis	2,800		9/20/08	2.45	%	50,725
Goldman Sachs
Dow Jones CDX	63		6/20/10	3.60	%	31,639
HCA, Inc.	1,000		12/20/07	0.75	%	(1,133		)
Starwood Hotels & Resort Worldwide, Inc.	1,000		12/20/07	1.10	%	7,799
TRW Automotive, Inc.	875		9/20/09	2.15	%	(4,279		)
JP Morgan
AES Corp.	1,500		9/20/07	2.15	%	19,005
Dow Jones CDX	15		6/20/10	3.60	%	14,199
Electronic Data System Corp.	1,000		12/20/07	(3.20	)%	18,233
Ford Motor Credit Co.	5,000		6/20/06	3.25	%	82,117
Tenet Healthcare Corp.	5,000		12/20/07	(3.20	)%	(33,709		)
Tenet Healthcare Corp.	5,000		12/20/09	4.15	%	(651		)
Lehman Securities
Dow Jones CDX	13,750		12/20/10	3.95	%	190,339
Dynegy, Inc.	3,000		12/20/09	3.05	%	5,646
Extendicare Health Services, Inc.	2,000		9/20/09	2.10	%	41,210
Extendicare Health Services, Inc.	600		9/20/09	2.10	%	12,363
General Motors Corp.	4,000		12/20/05	0.92	%	(17,369		)
L-3 Communications Group	5,000		12/20/08	1.50	%	81,296
Six Flags Theme Parks	1,000		3/20/10	2.70	%	27,969
Merrill Lynch
PSEG Energy	3,500		12/4/06	2.95	%	58,755
SPX Corp.	900		9/20/09	2.25	%	39,654
Williams Co.	700		9/20/09	1.71	%	12,803
Morgan Stanley
Georgia-Pacific Corp.	900		9/20/09	1.63	%	21,572
GMAC	1,000		9/20/06	1.70	%	(892		)
UBS Securities
Dow Jones CDX	23		6/20/10	3.60	%	21,298
Wachovia Securities
Dow Jones CDX	30		6/20/10	3.60	%	28,397
						$	610,231

(2) Interest rate swap contracts outstanding at October 31, 2005:

Rate Type

Unrealized

Swap

Notional Amount

Termination

Payments made

Payments received

Appreciation

Counterparty

(000)

Date

by Fund

(Depreciation)

Bank of America

115,000

1/7/25

3 Month LIBOR

5.13%

(486,366

)

Bank of America

115,000

6/15/25

5.25%

3 Month LIBOR

5,434,084

4,947,718

LIBOR - London Inter-Bank Offered Rate

(3) Forward foreign currency contracts outstanding at October 31, 2005:

					Unrealized
	U.S. $ Value		U.S. $ Value		Appreciation
	Origination Date		October 31, 2005		(Depreciation)
Purchased:
750,912.000 Japanese Yen, Settling 12/1/05	$	6,604,693	$	6,473,550	$	(131,143	)
Sales:
€ 4,130,000 settling 11/8/05	4,973,759		4,948,840		24,919
€ 3,970,000 settling 11/8/05	4,761,519		4,757,118		4,401
					$	(101,823	)

(4) Futures contracts outstanding at October 31, 2005

	Notional Amount		Expiration	Unrealized
Type	(000)		Date	Depreciation
Long: Financial Futures Euro - 90 day	$	131,750	12/19/2005	$	(568,902	)

(5) Options written for the period October 31, 2005

	Contracts
	(000)		Premiums
Options outstanding, July 31, 2006	2,203		$	691,208
Options written	3,616		696,484
Options terminated in closing purchase transactions	(3,471	)	(940,931		)
Options outstanding, October 31, 2006	2,348		$	446,761

(6) At October 31, 2005, the Fund held the following unfunded loan commitments which could be extended at the option of the borrower:

Borrower	Unfunded Commitments
EI Paso Nova Scotia Revolver	$	4,962,500
Host Marriott LP Revolver A	2,521,401
Host Marriott LP Revolver B	1,622,917
Motor City Casino Term D	1,009,688
Vision Corp. BF	65,462
Warner Chiott Co., Inc. Term	619,695
Warner Chiott Co., Inc. Term	123,939
	$	10,925,602

Item 2. Controls and Procedures

a) The registrant’s President and Chief Executive Officer and Principal Financial Officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no significant changes in the registrant’s internal controls or in factors that could affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 3. Exhibits

(a) Exhibit 99.302 Cert. – Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: PIMCO Floating Rate Income Fund

By	/s/ Brian S. Shlissel
President & Chief Executive Officer

Date: December 21, 2005

By	/s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: December 21, 2005

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dated indicated.

By	/s/ Brian S. Shlissel
President & Chief Executive Officer

Date: December 21, 2005

By	/s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: December 21, 2005