BofA updates PCQ preferred stake after redemption

Bank of America Corporation and Banc of America Preferred Funding Corp filed Amendment No. 3 to update their ownership in PIMCO California Municipal Income Fund’s remarketable variable rate munifund term preferred shares, series 2054.

Rhea-AI Filing Summary

Bank of America Corporation and Banc of America Preferred Funding Corp filed Amendment No. 3 to update their ownership in PIMCO California Municipal Income Fund’s remarketable variable rate munifund term preferred shares, series 2054. The Issuer redeemed 810 RVMTP shares on February 23, 2026, at a price equal to the liquidation preference plus accumulated but unpaid dividends. After this partial redemption, the reporting persons now beneficially own 1,920 RVMTP shares, representing 59.8% of this preferred class, with shared voting and dispositive power over all of these shares.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change in ownership does Bank of America report in PCQ’s preferred shares?

Bank of America now reports beneficial ownership of 1,920 remarketable variable rate munifund term preferred shares. This represents 59.8% of the class following the Issuer’s redemption of 810 RVMTP shares on February 23, 2026, which reduced the overall amount outstanding.

Which security of PIMCO California Municipal Income Fund (PCQ) is affected?

The filing concerns PIMCO California Municipal Income Fund’s remarketable variable rate munifund term preferred shares, series 2054. These are identified as RVMTP Shares with CUSIP 72200N700 and are separate from the common shares that many investors typically trade in PCQ.

How many PCQ preferred shares were redeemed on February 23, 2026?

The Issuer redeemed 810 remarketable variable rate munifund term preferred shares on February 23, 2026. The redemption price equaled the liquidation preference plus accumulated but unpaid dividends, and this transaction is the reason for the updated ownership figures in the amendment.

What percentage of PCQ’s RVMTP preferred class does Bank of America own?

Bank of America Corporation and Banc of America Preferred Funding Corp beneficially own 1,920 RVMTP shares, representing 59.8% of that preferred class. They report shared voting power and shared dispositive power over all of these preferred shares in the updated Schedule 13D/A.

Who are the reporting persons in this Schedule 13D/A for PCQ?

The reporting persons are Bank of America Corporation and Banc of America Preferred Funding Corp, both organized in Delaware. They jointly report their beneficial ownership and control over the 1,920 RVMTP preferred shares, supported by a joint filing agreement and related exhibits in the amendment.

Why did Bank of America file Amendment No. 3 related to PCQ?

Amendment No. 3 was filed to update ownership information after the Issuer redeemed 810 RVMTP shares on February 23, 2026. This redemption changed the reporting persons’ percentage ownership, leading them to disclose that they now hold 1,920 shares, or 59.8% of the preferred class.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 02/25/2026 - 04:45 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

PIMCO CALIFORNIA MUNICIPAL INCOME FUND

(Name of Issuer)

REMARKETABLE VARIABLE RATE MUNIFUND TERM PREFERRED

(Title of Class of Securities)

72200N700

(CUSIP Number)

Bank of America Corporation
Bank of America Corporate Center, 100 N.,
Charlotte, NC, 28255
980-388-3188

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/23/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 72200N700

1

Name of reporting person

BANK OF AMERICA CORP /DE/

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,920.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,920.00

11

Aggregate amount beneficially owned by each reporting person

1,920.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

59.8 %

14

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13D

CUSIP No. 72200N700

1

Name of reporting person

Banc of America Preferred Funding Corp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,920.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,920.00

11

Aggregate amount beneficially owned by each reporting person

1,920.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

59.8 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: REMARKETABLE VARIABLE RATE MUNIFUND TERM PREFERRED
(b)	Name of Issuer: PIMCO CALIFORNIA MUNICIPAL INCOME FUND
(c)	Address of Issuer's Principal Executive Offices: 1633 BROADWAY, NEW YORK, NEW YORK , 10019.
Item 1 Comment: This Amendment No. 3 (this "Amendment") amends, as set forth below, the statement on Schedule 13D, dated April 17, 2024 and filed with the SEC on April 24, 2024 (as amended to the date hereof, the "Original Schedule 13D"), for Bank of America Corporation ("BAC") and Banc of America Preferred Funding Corporation ("BAPFC") (collectively, the "Reporting Persons") with respect to the remarketable variable rate munifund term preferred shares, series 2054 (CUSIP No. 72200N700) ("RVMTP Shares") of PIMCO California Municipal Income Fund (the "Issuer"). This Amendment is being filed to report a change in the Reporting Persons ownership percentage of the Issuer as a result of the partial redemption of 810 RVMTP Shares on February 23, 2026, as described in the Notice of Intention to Redeem Securities, N-23C-2, filed by the Issuer with the SEC on January 23, 2026.
Item 2.	Identity and Background
(c)	Item 2(c) of the Original Schedule 13D is hereby amended by deleting Schedule I referenced therein and replacing it with Schedule I included with this Amendment.
(d)	Item 2(d) of the Original Schedule 13D is hereby amended by deleting Schedule II referenced therein and replacing it with Schedule II included with this Amendment.
Item 5.	Interest in Securities of the Issuer
(a)	Paragraph (a) of Item 5 of the Original Schedule 13D are hereby amended and restated in their entirety by incorporating by reference the cover pages of this Amendment.
(b)	Paragraph (b) of Item 5 of the Original Schedule 13D are hereby amended and restated in their entirety by incorporating by reference the cover pages of this Amendment.
(c)	Paragraph (c) of Item 5 of the Original Schedule 13D is hereby amended by adding the following paragraph at the end thereof: The 810 RVMTP shares held by BAPFC were redeemed by the Issuer on February 23, 2026, for a redemption price of the liquidation preference and accumulated but unpaid dividends and as result of the redemption, the Reporting Persons now own 1,920 RVMTP Shares.
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Original Schedule 13D is hereby amended by deleting Exhibit 99.1 and Exhibit 99.2 thereto and the insertion of the following exhibits: "Exhibit Description of Exhibit 99.1 Joint Filing Agreement 99.2 Power of Attorney 99.6 Schedule I 99.7 Schedule II

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BANK OF AMERICA CORP /DE/

Signature:	Andres Ortiz
Name/Title:	Authorized Signatory
Date:	02/25/2026

Banc of America Preferred Funding Corp

Signature:	Andres Ortiz
Name/Title:	Authorized Signatory
Date:	02/25/2026