Edgar Filing: PIMCO CORPORATE OPPORTUNITY 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			811-21238
PIMCO CORPORATE OPPORTUNITY 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:	11/30/05

Date of reporting period:		2/28/05

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 CORPORATE OPPORTUNITY FUND

SCHEDULE OF INVESTMENTS

February 28, 2005

(unaudited)

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*
		CORPORATE BONDS & NOTES-78.1%
		Airlines-4.5%
		Continental Airlines, Inc., pass thru certificates,
$	4,033	6.70%, 6/15/21, Ser. 01-1	Baa3/A-	$	3,888,612
2,729		7.37%, 12/15/15, Ser. 01-1	Ba1/BBB	2,197,690
2,000		7.49%, 10/2/10, Ser. 00-2	Baa3/A	1,979,468
10,034		7.71%, 4/2/21, Ser. 00-2	Baa3/A-	9,853,933
		Delta Air Lines, Inc., pass thru certificates,
5,000		7.57%, 11/18/10, Ser. 00-1	Ba1/BBB-	4,771,222
8,000		7.92%, 11/18/10, Ser. 00-1	B3/B-	5,338,145
		Northwest Airlines Corp., pass thru certificates,
1,581		6.81%, 2/1/20, Ser. 99-1A	Baa3/BBB-	1,446,905
12,500		6.84%, 4/1/11, Ser. 01-1	Baa3/BBB+	12,491,450
5,551		7.58%, 3/1/19, Ser. 99-2A	Baa2/A-	5,682,547
2,509		7.67%, 1/2/15, Ser. 96-1	Ba2/B	2,097,682
		United Air Lines, Inc., pass thru certificates,
15,411		7.19%, 4/1/11, Ser. 00-2	WR/NR	14,214,187
9,995		7.73%, 7/1/10, Ser. 00-1	WR/NR	8,790,449
				72,752,290
		Automotive-1.5%
4,000		Auburn Hills Trust, 12.375%, 5/1/20	A3/BBB	6,278,232
6,000		Ford Motor Co., 9.98%, 2/15/47	Baa1/BBB-	7,145,094
10,000		General Motors Corp., 9.40%, 7/15/21	Baa2/BBB-	10,680,140
				24,103,466
		Banking-1.9%
625		Bank of America Corp., 9.375%, 9/15/09	Aa3/A	747,074
		HSBC Capital Funding LP.,
1,000		4.61%, 6/27/13 (a) (b)	A1/A-	967,782
2,000		10.18%, 6/30/30 (a) (b)	A1/A-	3,176,454
9,706		Riggs Capital Trust II, 8.875%, 3/15/27, Ser. C.	Ba2/CCC-	10,919,250
3,500		Royal Bank of Canada, 2.71%, 11/18/11 (b)	Aa3/A+	3,511,382
2,000		Royal Bank of Scotland Group, Inc, 7.65%, 9/30/31 (b)	A1/A	2,487,568
8,000		Sumitomo Mitsui Banking Corp., 8.15%, 8/1/08	A2/NR	8,614,568
				30,424,078
		Chemicals-0.6%
8,445		Equistar Chemical L.P., 10.125%, 9/1/08	B2/B+	9,732,863

		Computer Services-0.5%
		Electronic Data Systems Corp.,
4,000		6.50%, 8/1/13, Ser. B	Ba1/BBB-	4,180,248
3,500		7.125%, 10/15/09	Ba1/BBB-	3,808,990
				7,989,238
		Diversified Manufacturing-2.1%
5,000		Hutchison Whampoa Int’l Ltd., 7.45%, 11/24/33 (a)	A3/A-	5,805,115
		Tyco International Group SA,
€	7,380	5.50%, 11/19/08	Baa3/BBB	10,575,589
$	16,785	6.375%-7.00%, 10/15/11-6/15/28	Baa3/BBB	18,773,270
				35,153,974
		Drugs & Medical Products-0.3%
5,500		Wyeth, 5.50%, 2/1/14	Baa1/A	5,690,025

		Electronics-0.1%
1,000		Arrow Electronics Inc., 6.875%, 6/1/18	Baa3/BBB-	1,068,185

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*
		CORPORATE BONDS & NOTES (continued)
		Energy-1.4%
$	7,000	Centerpoint Energy Inc., 6.50%, 2/1/08	Ba1/BBB	$	7,402,311
2,697		Salton Sea Funding, Inc., 8.30%, 5/30/11, Ser. E	Ba1/BB+	2,962,006
12,000		Sithe Independence Funding Corp., 9.00%, 12/30/13, Ser. A	Ba1/BBB-	13,273,200
				23,637,517
		Financial Services-0.1%
2,500		Morgan Stanley, 2.94%, 1/15/10 (a) (b)	Aa3/A+	2,508,668

		Financing-6.8%
5,000		AES Red Oak LLC., 9.20%, 11/30/29, Ser. B	B2/B+	5,775,000
1,000		Beaver Valley Funding Corp., 8.625%, 6/1/07	Baa3/BB+	1,053,536
2,500		Canadian Oil Sands Trust, 4.80%, 8/10/09 (a)	Baa2/BBB+	2,502,888
8,362		Cedar Brakes II LLC., 9.875%, 9/1/13	Caa1/CCC+	10,028,427
22,240		Ford Motor Credit Co., 6.50%-7.75%, 1/25/07-2/15/07	A3/BBB-	23,376,132
		General Electric Capital Corp.,
1,100		8.50%, 7/24/08	Aaa/AAA	1,240,837
4,990		9.83%, 12/15/08 (f)	NR/NR	6,003,116
		General Motors Acceptance Corp.,
10,500		3.56%-3.695, 5/18/06-1/16/07 (a) (b)	Baa1/BBB-	10,451,907
15,000		7.75%-8.875%, 1/19/10-11/1/31	Baa1/BBB-	15,710,625
12,455		Heller Financial Inc., 6.375%, 3/15/06	Aaa/AAA	12,798,073
2,110		IBJ Preferred Capital Co., LLC, 8.79%, 6/30/08, VRN	Baa1/BB	2,364,012
9,200		Mizuho JGB Investment LLC, 9.87%, 6/30/08, VRN (a)	Baa1/BB	10,618,456
7,500		Pemex Project Master Trust, 8.625%, 2/1/22	Baa1/BBB-	9,018,750
				110,941,759

		Food Services-0.7%
7,500		Delhaize America Inc.,7.375%- 8.125%, 4/15/06-4/15/11	Ba1/BB+	8,376,460
1,500		Heinz (H.J.) Co., 6.19%, 12/1/20 (a) (b) (c)	A3/NR	1,526,419
755		Yum! Brands Inc., 8.50%, 4/15/06	Baa3/BBB-	793,513
				10,696,392
		Healthcare & Hospitals-2.5%
9,310		HCA Inc., 8.85%-9.00%, 1/1/07-12/15/14	Ba2/BB+	10,093,229
19,000		Healthsouth Corp., 7.625%, 6/1/12	WR/NR	19,332,500
13,000		Tenet Healthcare Corp., 6.375%-7.375%, 12/1/11-2/1/13	B3/B-	12,157,500
				41,583,229
		Hotels/Gaming-3.6%
		Caesars Entertainment, Inc.,
900		8.50%, 11/15/06	Ba1/BB+	966,375
1,000		8.875%, 9/15/08	Ba2/BB-	1,133,750
4,875		9.375%, 2/15/07	Ba2/BB-	5,338,125
7,730		Harrahs Operating Co., Inc., 5.50%-8.00%, 7/1/10-2/1/11	Baa3/BBB-	8,409,714
8,000		Hilton Hotels Corp., 7.625%, 12/1/12	Baa3/BBB-	9,272,008
1,200		Mandalay Resort Group, 9.375%, 2/15/10	Ba3/BB-	1,393,500
2,500		MGM Mirage, Inc., 8.50%, 9/10/10	Ba1/BB+	2,868,750

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*
		CORPORATE BONDS & NOTES (continued)
		Hotels/Gaming (continued)
$	15,950	Starwood Hotels & Resorts Worldwide Inc., 7.375%-7.875%, 5/1/12-11/15/25	Ba1/BB+	$	18,083,062
8,875		Times Square Hotels Trust, 8.53%, 8/1/26 (a) (f)	Baa3/BB+	10,588,904
				58,054,188
		Insurance-0.1%
1,000		Prudential Financial Inc., 4.10%, 11/15/06	A3/A-	1,005,026

		Miscellaneous-1.8%
26,100		Morgan Stanley TRACERS, 5.89%, 3/1/07 (a) (c) (d)	A3/NR	26,758,216
2,000		Progress Capital Holdings, 7.17%, 11/1/06, Ser. MTN (e)	Baa1/BBB-	2,094,392
				28,852,608
		Multi-Media-9.8%
35,250		AOL Time Warner Inc., 6.875%-8.375%, 8/15/07-7/15/33	Baa1/BBB+	43,183,832
18,500		Comcast Cable Communications Inc., 6.75%-8.375%, 1/30/11-3/15/13	Baa3/BBB	21,690,726
3,000		Cox Communications Inc., 7.75%, 8/15/06	Baa3/BBB	3,149,001
		CSC Holdings Inc.,
30,690		7.25%-7.875%, 7/15/08-7/15/18	B1/BB-	35,315,894
4,500		8.125%, 8/15/09, Ser. B	B1/BB-	5,028,750
16,050		News America Holdings, Inc., 7.43%, 10/1/26	Baa3/BBB-	19,060,820
15,000		Rogers Cable Inc., 8.75%, 5/1/32	Ba3/BB+	18,000,000
13,000		Shaw Communications Inc., 7.20%-8.25%, 4/11/10-12/15/11	Ba2/BB+	14,515,000
				159,944,023
		Oil & Gas-8.5%
		Centerpoint Energy Resources Corp
23,000		7.75%, 2/15/11	Ba1/BBB	26,431,324
5,000		7.875%, 4/1/13, Ser. B	Ba1/BBB	5,911,140
28,200		Coastal Corp., 7.42%-7.625%, 9/1/08-2/15/37	Caa1/CCC+	27,714,750
		Columbia Energy Group,
3,043		7.32%, 11/28/10, Ser. E	Baa2/BBB	3,121,166
3,800		7.42%, 11/28/15, Ser. F	Baa2/BBB	3,964,088
1,500		Dynegy Holdings, Inc., 7.67%, 11/8/16, Ser. B	Caa2/B	1,413,750
1,000		Encana Corp., 6.30% 11/1/11	Baa2/A-	1,091,479
12,000		Gaz Capital, 8.625%, 4/28/34	Ba2/BB-	14,160,000
1,800		Gazprom, 9.625%, 3/1/13 (a)	NR/BB-	2,153,250
3,932		Occidental Petroleum Corp., 7.65%, 2/15/06	Baa1/BBB+	4,081,565
3,664		Ras Laffan Liquified Natural Gas Co., 3.437%, 9/15/09 (c)	Baa1/A-	3,594,248
10,000		Southern Natural Gas Co., 8.875%, 3/15/10	B1/B-	11,125,000
10,000		Southern Star Central Gas Pipline, Inc., 7.375%, 11/15/06 (a)	Ba1/BBB-	10,558,920
17,400		Williams Gas Pipelines, Inc., 7.875%, 9/1/21	B1/B+	20,532,000
2,500		XTO Energy Inc., 6.25%, 4/15/13	Baa3/BBB-	2,724,500
				138,577,180

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*
		CORPORATE BONDS & NOTES (continued)
		Paper/Paper Products-3.5%
$	33,500	Abitibi-Consolidated, Inc., 7.50%-8.50%, 4/1/28-8/1/29	Ba3/BB	$	31,017,500
		Georgia-Pacific Corp.,
11,000		7.50%-7.75%, 5/15/06-11/15/29	Ba3/BB+	12,190,000
9,750		8.875%, 2/1/10	Ba2/BB+	11,407,500
2,000		Smurfit Capital Funding plc, 7.50%, 11/20/25	B1/BB-	2,030,000
				56,645,000
		Retail-0.9%
13,000		JC Penny Co., Inc., 8.125%, 4/1/27	Ba2/BB+	14,170,000

		Telecommunications-15.3%
35,000		AT&T Corp., 8.00%, 11/15/31	Ba1/BB+	44,668,750
10,000		BellSouth Capital Funding, 7.875%, 2/15/30	A2/A	12,652,230
1,151		Calpoint Receivables Structured Trust, 7.44%, 12/10/06 (a)	Caa2/NR	1,168,158
18,248		MCI Inc., 5.91%-6.69%, 5/1/07-5/1/09	NR/NR	19,075,263
20,000		Nextel Communications Inc., 5.25%-7.375%, 1/15/10-8/1/15	Ba3/BB	21,543,750
21,650		Panamsat Corp, 6.875%, 1/15/28	B1/BB+	20,784,000
23,670		Qwest Capital Funding, Inc., 7.00%-7.90%, 8/3/09-8/15/10	Caa2/B	23,665,950
		Qwest Corp.,
3,000		7.25%, 9/15/25	Ba3/BB-	3,090,000
6,150		9.125%, 3/15/12 (a)	Ba3/B-	7,149,375
7,950		Quest Service Corp., 13.00%, 12/15/07 (a)	Caa1/B	9,003,375
12,340		Rogers Cantel, Inc., 9.75%, 6/1/16	Ba3/BB	15,301,600
1,000		Rogers Wireless, Inc., 7.625%, 12/15/11 (a)	Ba3/BB	868,451
250		SBC Communications Inc., 4.125%, 9/15/09	A2/A	245,989
43,450		Sprint Capital Corp., 6.90%-9.25% 1/30/11-3/15/32	Baa3/BBB-	49,527,623
19,000		Verizon Global Funding Corp., 6.875%-7.25%, 12/1/10-6/15/12	A2/A+	21,443,276
				250,187,790
		Transportation-0.0%
250		CSX Corp., 9.00%, 8/15/06	Baa2/BBB	266,987

		Utilities-11.6%
2,000		CMS Energy Corp., 8.90%, 7/15/08	B3/B+	2,235,000
12,715		East Coast Power LLC., 6.74%-7.07%, 3/31/08-3/31/12, Ser. B	Baa3/BBB-	13,245,859
4,900		Homer City Funding LLC., 8.147%, 10/1/19	Ba2/BB	5,610,500
2,950		Indianapolis Power & Light Co., 7.375%, 8/1/07	Baa2/BBB-	3,104,093
28,960		Ipalco Enterprises, Inc., 7.375%-7.625%, 11/14/08-11/14/11	Ba1/BB-	32,852,800
		Midwest Generation LLC., pass thru certificates,
28,380		8.30%, 7/2/09, Ser. A	B1/B	30,792,300
13,070		8.56%, 1/2/16, Ser. B	B1/B	14,703,750
5,000		8.75%, 5/1/34 (a)	B1/B-	5,762,500
1,000		Ohio Edison Co., 5.647%, 6/15/09 (a) (c)	Baa2/BB+	1,017,861
7,750		PPL Capital Fund Trust I, 7.29%, 5/18/06	Ba1/BB+	8,022,560
1,631		Progress Energy Inc., 6.75%, 3/1/06	Baa2/BBB-	1,677,469
44,500		PSE&G Energy Holdings LLC, 8.50%-10.00%, 10/1/09-6/15/11	Ba3/BB-	50,316,875
1,100		Public Services Electric & Gas Co., 4.00%, 11/1/08	A3/A-	1,088,880
10,986		South Point Energy Center LLC, 8.40%, 5/30/12 (a)	B2/B	10,354,016
8,000		Westar Energy Inc., 7.875%, 5/1/07	Ba1/BBB-	8,636,456
				189,420,919

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*
		CORPORATE BONDS & NOTES (continued)
		Waste Disposal-0.0%
$	500	Allied Waste Industries Inc., 7.625%, 1/1/06, Ser. B	B2/BB-	$	515,945

		Total Corporate Bonds & Notes (cost-$1,137,756,476)		1,273,921,350

		SOVEREIGN DEBT OBLIGATIONS- 5.5%
		Brazil - 2.0%
		Federal Republic of Brazil,
6,618		3.125%, 4/15/12 (b)	B1/BB-	6,451,880
24,041		8.00%-11.50%, 3/12/08-4/15/14	B1/BB-	26,186,886
				32,638,766
		Mexico-1.2%
15,000		United Mexican States, 6.375%-11.375%, 1/14/11-9/24/22	Baa/BBB	19,271,000

		Panama - 0.9%
12,000		Republic of Panama, 9.375%-10.75%, 7/23/12-5/15/20	Ba1/BB	14,880,000

		Peru - 0.9%
13,000		Republic of Peru, 9.125%, 2/21/12	Ba3/BB	15,112,500

		Russia-0.4%
6,294		Russian Federation, 5.00%, 3/1/30 Ser. REGS	Baa3/BBB-	6,650,240

		Ukraine-0.1%
1,467		Ukraine Government, 7.65%-11.00%, 3/15/07-6/11/13	B1/B+	1,601,658

		Total Sovereign Debt Obligations (cost-$76,207,676)		90,154,164

		COLLATERALIZED MORTGAGE OBLIGATIONS-1.3%
		GSMPS Mortgage Loan Trust,
3,060		3.20%, 6/25/34 (b)	Aaa/AAA	3,069,995
7,409		7.50%, 12/21/26 (b) (e)	NR/NR	7,772,298
6,514		Small Business Administration, 5.24%, 8/1/23 (b)	NR/NR	6,667,569
		Small Business Administration, Certificates of Participation,
2,289		6.03%, 2/1/12	NR/NR	2,383,541
1,485		6.44%, 6/1/21, Ser. 20-f	NR/NR	1,586,812
		Total Collateralized Mortgage Obligations (cost-$21,626,638)		21,480,215

		SENIOR LOANS (c) (e) (g) - 0.9%
		Hotels/Gaming-0.2%
2,940		Aladdin Gaming Holdings LLC, 8/31/10, Term A1		2,925,281
60		Aladdin Gaming Holdings LLC, 8/31/10, Term B1		60,187
				2,985,468
		Multi-Media - 0.6%
9,950		Charter Communications Holdings, LLC, 5.29%-5.38%, 4/26/11, Term B		9,996,437

		Utilities-0.1%
1,429		AES Corp. 4.25%-4.42% 4/30/08, Term B		1,461,607
57		Reliant Resources Inc., 0.00%, 8/25/08 (h)		422,646
				1,884,253

		Total Senior Loans (cost-$13,327,752)		14,866,158

Principal Amount (000)		Credit Rating (Moody’s/S&P)	Value*
	ASSET-BACKED SECURITIES-0.8%
8,300	Greenpoint Manufactured Housing LLC, 8.30%, 10/15/26 (b)	Ca/NR	7,568,303
5,000	Long Beach Mortgage Loan Trust, 4.30%, 3/25/32, Ser 2001-4 (b)	A2/NR	4,949,418
244	Nextcard Credit Card Trust 3.39%-3.53%, 12/15/06-4/16/07 (b) (c) (f)	B3/B-	243,341
	Total Asset-Backed Securities (cost-$12,489,846)		12,761,062

	U.S. GOVERNMENT AGENCY SECURITIES-0.2%
67	Fannie Mae 7.00%, 12/31/07 (b) (cost-$3,350,500)	Aaa/AAA	3,764,622

	U.S. TREASURY NOTES (h)-0.1%
800	3.375%, 10/15/09 (cost-$789,691)	Aaa/AAA	779,532

	VARIABLE RATE MUNICIPAL NOTES-1.4%
	New Jersey-0.0%
21,520	Tobacco Settlement Finance Corp., Rev., RITES, 9.63%-10.88%, 6/1/24-6/1/32 (cost-$19,980,819)	NR/AA	22,037,813

	SHORT-TERM INVESTMENTS - 12.5%
	CORPORATE NOTES- 10.1%
	Automotive-0.9%
8,000	DaimlerChrysler Holdings Co., 2.75%, 9/26/05 (b)	A3/BBB	8,031,456
6,000	Lear Corp., 7.96%, 5/15/05, Ser. B	Baa3/BBB-	6,055,914
			14,087,370
	Computer Services-0.3%
5,000	Electronic Data Systems Corp., 7.125%, 5/15/05 (a)	Ba1/BBB-	5,035,430

	Financing-3.2%
	Ford Motor Credit Co.,
14,000	3.00%-3.10%, 6/30/05-7/18/05, Ser. MTN (b)	A3/BBB-	14,004,991
10,000	7.60%, 8/1/05	A3/BBB-	10,162,190
	General Motors Acceptance Corp.,
5,800	7.50%-8.75%, 7/15/05	Baa1/BBB-	5,895,059
18,800	General Motors Acceptance Corp., 3.92%, 10/20/05 (b)	Baa1/BBB-	18,885,991
1,000	HSBC Finance Corp., 8.00%, 5/9/05	A1/A	1,009,386
2,758	Morgan Stanley, 3.75%, 6/24/05	Aa3/A+	2,763,287
			52,720,904
	Energy-0.1%
1,954	Constellation Energy Group Inc., 7.875%, 4/1/05, Ser. MTN	Baa1/BBB	1,961,740

	Food & Beverage-0.3%
5,000	Nabisco Inc., 6.85%, 6/15/05	A3/A-	5,050,415

	Healthcare & Hospitals-0.3%
5,000	HCA Inc., 6.91%, 6/15/05	Ba2/BB+	5,069,300

	Hotels/Gaming-0.1%
1,000	La Quinta Corp., 7.40%, 9/15/05	Ba3/BB-	1,021,250

	Metals & Mining-0.2%
1,000	Rio Algom Ltd., 7.05%, 11/1/05	WR/NR	1,018,727

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*
		CORPORATE NOTES (continued)
		Multi-Media-1.3%
$	8,100	Comcast Corp., 8.375%, 11/1/05	Baa3/BBB	$	8,340,457
5,000		Continental Cablevision Inc., 8.875%, 9/15/05	Baa3/BBB	5,139,080
6,551		TCI Communications Inc., 7.25%-8.00%, 8/1/05	Baa3/BBB	6,646,709
1,121		Viacom, Inc., 7.15%-7.75%, 5/20/05-6/1/05	A3/A-	1,133,128
				21,259,374
		Oil & Gas-1.8%
1,200		BP Amoco plc, 10.875%, 7/15/05	Aa1/AA+	1,232,225
11,500		Centerpoint Energy Corp., 8.125%, 7/15/05, Ser. B	Ba1/BBB	11,702,963
1,399		Duke Capital LLC, 6.25%, 7/15/05, Ser. A	Baa2/BBB-	1,414,818
2,300		Duke Energy Field Services, 7.50%, 8/16/05	Baa2/BBB	2,342,566
10,500		Enterprise Products Operating LP, 8.25%, 3/15/05	WR/BB+	10,516,012
3,000		Pioneer Natural Resources Co., 8.875%, 4/15/05	Baa3/BBB-	3,018,990
				30,227,574
		Paper/Paper Products-0.1%
1,210		Champion International Paper Co., 7.10%, 9/1/05	Baa2/BBB	1,229,551

		Retail-0.3%
5,000		Safeway Inc., 2.50%, 11/1/05	Baa2/BBB	4,966,250

		Telecommunications-0.4%
6,000		Cincinnati Bell Inc., 6.33%, 12/30/05	Ba2/NR	6,000,000
600		Qwest Corp., 6.625%, 9/15/05	Ba3/BB-	609,750
				6,609,750
		Tobacco-0.1%
2,000		Altria Group Inc., 7.00%, 7/15/05	Baa2/BBB	2,025,030

		Transportation-0.0%
400		Union Pacific Corp., 7.60%, 5/1/05	Baa2/BBB	402,623

		Utilities-0.7%
7,400		Appalachian Power Co., 4.80%, 6/15/05, Ser. E	Baa2/BBB	7,434,240
2,961		Niagara Mohawk Power Corp., 6.625%, 7/1/05	A3/A+	2,995,516
1,000		Nisource Finance Corp., 7.625%, 11/15/05	Baa3/BBB	1,027,866
1,000		Public Services Electric & Gas Co., 9.125%, 7/1/05, Ser. BB	A3/A-	1,018,989
				12,476,611

		Total Corporate Notes (cost-$165,082,522)		165,161,899

		U.S. TREASURY BILLS (i)- 1.1%
18,240		2.08%-2.73%, 3/3/05-6/1/05 (cost-$18,204,735)	Aaa/AAA	18,202,383

Principal Amount (000)			Value*
		COMMERCIAL PAPER-0.5%
		Financing-0.5%
$	7,300	UBS Finance, Inc., 2.68%-2.73%, 5/3/05-6/1/05 (cost-$7,257,140)	$	7,255,296

		REPURCHASE AGREEMENTS - 0.8%
9,000		CS First Boston Corp., dated 2/28/05, 2.50%, due 3/1/05, proceeds $9,000,625: collateralized by U.S. Treasury Inflationary Notes, 1.875%, 6/15/09, valued at $9,214,122 with accrued interest (cost-$9,000,000)	9,000,000

4,220		State Street Bank & Trust Co., dated 2/28/05, 2.15%, due 3/1/05, proceeds $4,220,252: collateralized by Freddie Mac, 2.875%, 9/15/05, valued at $4,306,945 with accrued interest (cost-$4,220,000)	4,220,000

		Total Repurchase Agreements (cost-$13,220,000)	13,220,000

		Total Short-Term Investments (cost-$203,764,397)	203,839,578

Contracts (000)		PUT OPTIONS PURCHASED (j) -0.0%
250,000		European Style, Over-the Counter, expires 6/20/05	84,633
625,000		Hvol Credit Default strike rate 1.05%, expires 6/20/05	48,156

		Total Options Purchased (premiums paid-$3,312,500)	132,789

		Total Investments, before options written (cost-$1,492,606,295) - 100.8%	1,643,737,283

		CALL OPTIONS WRITTEN (j) - (0.6)%
(875,000)		Hvol Credit Default strike rate 1.15%, expires 6/20/05	(7,575,496		)
(16,050)		News America Holdings, Strike price $100, expires 10/1/06	(2,496,594		)
(32,300)		Swap Option 3 Month LIBOR, Strike rate 4.00%, expires 4/4/05	(1,970		)
(1.034)		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade, Strike price $113, expires 5/20/05	(161,563		)
(0.773)		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade, Strike price $114, expires 5/20/05	(60,391		)
(0.469)		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade, Strike price $115, expires 5/20/05	(14,656		)
		Total Call Options Written (premiums received-$4,123,539)	(10,310,670		)

		PUT OPTIONS WRITTEN (j) -(0.2)%
(32,300)		Swap Option 3 Month LIBOR,
		Strike rate 4.75%, expires 4/4/05	(109,788		)
(0.380)		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade,
		Strike price $107, expires 5/20/05	(106,875		)
(2.597)		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade,
		Strike price $108, expires 5/20/05	(1,229,219		)
(9.86)		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade,
		Strike price $109, expires 5/20/05	(754,906		)
(0.023)		U.S. Treasury Notes 10 yr. Futures, Chicago Board of Trade,
		Strike price $110, expires 5/20/05	(27,312		)
		Total Put Options Written (premiums received-$1,672,501)	(2,228,100		)

		Total Options Written (premiums received-$5,796,040)	(12,538,770		)

		Total Investments, net of options written (cost-$1,486,810,255)-100.0%	$	1,631,198,513

OTHER INVESTMENTS:

a) Forward foreign currency contracts outstanding at February 28, 2005 were:

	U.S.$ Value Origination Date	U.S.$ Value February 28, 2005	Unrealized Depreciation
Sold:
€8,287,000 settling 3/17/05	$10,657,786	$11,002,963	$345,177

b) Futures contracts outstanding at February 28, 2005:

Type	Notional Amount (000)	Expiration Date	Unrealized Depreciation
Long:Financial Future Euro-90 day	4,750	6/13/2005	$3,800,000

U.S. Treasury 10 Year Notes	41	3/21/2020	26,266

U.S. Treasury 10 Year Notes	23	6/21/2020	15,944
			$3,842,210

c) Credit default swap contracts outstanding at February 28, 2005:

Swap Counterparty/ Referenced Debt Obligation	Notional Amount Payable on Default (000)	Termination Date	Fixed Payments Received by Fund		Unrealized Appreciation
Bear Stearns Russian Credit Federation 5.00%, 3/31/30	3,000	3/17/2005	1.00	%	$ 872

Goldman Sachs Russian Credit Federation 5.00%, 3/31/30	2,000	3/6/2005	1.06	%	294
					$1,166

d) Interest rate swaps contracts outstanding at February 28, 2005:

			Rate Type
Swap Counterparty	Notional Amount (000)	Termination Date	Payments Made by Fund		Payments Received by Fund	Unrealized Appreciation (Depreciation)
Goldman Sachs	$1,650	6/15/2025	5.25	%	3 Month LIBOR	$	(17,159,637	)

Goldman Sachs	1,650	12/24/2024	5.13	%	3 Month LIBOR	8,337,467

Lehman Brothers	16,050	10/1/2006	7.43	%	3 Month LIBOR +1.15%	(601,814		)
						$	(9,423,984	)

LIBOR - London Interbank Offered Rate

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 readily available or if a significant development/event occurs that may impact the value of the security, may be fair-valued in good faith 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 daily by an independent pricing service, dealer quotations, or are valued at the last sale price on the exchange that is 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 utilize information provided by market makers or estimates of market value obtained from yield data relating to investments or securities with similar characteristics. Senior Loans, for which a secondary market does not exist, are valued at fair-value by Pacific Investment Management Co. LLC, (the “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, futures and options on futures are valued at the settlement price determined by the relevant exchange. Swaps are marked to market daily by the Sub-Adviser based upon quotations from market makers. Short-term investments maturing in 60 days or less are valued at amortized cost, if their original maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term of the 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 daily at the close of regular trading (normally, 4:00 p.m. Eastern time) on the New York Stock Exchange.

(a) 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 investors.

(b) Floating Rate Security- Interest rate shown is the rate in effect on February 28, 2005.

(d) Credit-linked trust certificate.

(e) Private Placement. Restricted as to resale and does not have a readily available market.

(f) Fair-valued security.

(g) 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 London Inter-Bank Offered Rate (“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.

(h) Unsettled security, coupon rate undetermined at February 28, 2005.

(i) All or partial amount segregated as initial margin on futures contracts.

(j) Non-income producing security.

Glossary:

REIT- Real Estate Investment Trust

RITES- Residual Interest Tax Exempt Securities

TRACERS- Traded Custody Receipts

NR- Not Rated

VRN- Variable Rate Note. Maturity date shown is date of next rate change and the interest rate disclosed reflects the rate in effect February 28, 2005.

WR-Withdrawn Rating

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 Corporate Opportunity Fund

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

Date: April 18, 2005

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

Date: April 18, 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: April 18, 2005

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

Date: April 18, 2005