Edgar Filing: PIMCO CORPORATE OPPORTUNITY FUND

	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549	OMB APPROVAL
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	FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number			811-21238
PIMCO CORPORATE OPPORTUNITY FUND INC.
(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

Date of reporting period:		8/31

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

August 31, 2004

(unaudited)

Principal Amount (000)
			Credit Rating (Moody’s/S&P)	Value*
		CORPORATE BONDS & NOTES - 78.2%
		Airlines - 4.0%
		Continental Airlines, Inc., pass thru certificates,
$	4,339	6.703%, 6/15/21, Ser. 01-1	Baa3/A-	$	4,060,029
2,990		7.373%, 12/15/15, Ser. 01-1	Ba1/BBB	2,353,629
2,000		7.487%, 10/2/10, Ser. 00-2	Baa3/A	1,952,160
10,310		7.707%, 4/2/21, Ser. 00-2	Baa3/A-	10,041,550
		Delta Airlines, Inc., pass thru certificates,
5,000		7.57%, 11/18/10, Ser. 00-1	Ba1/BBB-	4,458,472
8,000		7.92%, 11/18/10, Ser. 00-1	B3/B-	3,712,889
		Northwest Airlines Corp., pass thru certificates,
1,624		6.81%, 2/1/20, Ser. 991A	Baa3/BBB-	1,413,038
12,500		6.841%, 4/1/11, Ser. 01-1	Baa3/BBB+	12,273,557
5,629		7.575%, 3/1/19, Ser. 992A	Baa2/A-	5,594,357
2,552		7.67%, 1/2/15, Ser. 96-1	Ba2/B	2,084,899
		United Airlines, Inc., pass thru certificates,
15,411		7.186%, 4/1/11, Ser. 00-2	WR/NR	12,797,785
10,000		7.73%, 7/1/10, Ser. 00-1	WR/NR	8,170,991
				68,913,356
		Automotive - 2.8%
4,000		Auburn Hills Trust, 12.375%, 5/1/20	A3/BBB	6,099,500
8,000		DaimlerChrysler Holdings Co., 2.39%, 9/26/05 (a)	A3/BBB	8,044,144
21,000		Ford Motor Co., 7.45%-9.98%, 7/16/31-2/15/47	Baa1/BBB-	22,168,389
10,000		General Motors Corp., 9.40%, 7/15/21	Baa1/BBB-	11,510,960
				47,822,993
		Banking-2.0%
1,000		HSBC Capital Funding LP., 4.61%, 6/27/13 (b)	A1/A-	961,811
1,000		Korea Development Bank, 4.75%, 7/20/09	A3/A-	1,022,489
9,706		Riggs Capital Trust II, 8.875%, 3/15/27, Ser. C	Ba2/CCC+	10,506,745
3,500		Royal Bank of Canada, 2.21%, 11/8/11 (a)	Aa3/A+	3,518,064
8,740		Sovereign Bancorp, Inc., 10.50%, 11/15/06	WR/NR	10,155,242
8,000		Sumitomo Mitsui Banking, 8.15%, 8/1/08	Baa1/NR	8,638,408
				34,802,759

		Chemicals - 0.5%
8,445		Equistar Chemical L.P., 10.125%, 9/1/08	B2/B+	9,437,288

		Computer Services-0.2%
4,000		Electronic Data Systems Corp., 6.00%, 8/1/13, Ser. B	Ba1/BBB-	3,964,856

		Diversified Manufacturing - 3.6%
5,000		Hutchison Whampoa Int’l Ltd., 7.45%, 11/24/33 (b)	A3/A-	5,230,115
48,285		Tyco International Group SA, 5.50%-7.00%, 11/19/08-6/15/28	Ba3/BBB	56,114,594
				61,344,709
		Drugs & Medical Products-0.4%
7,500		Wyeth, 5.50%, 2/1/14	Baa1/A	7,517,700

		Electronics - 3.4%
2,000		CMS Energy Corp., 8.90%, 7/15/08	B3/B+	2,185,000
4,950		Homer City Funding LLC., 8.137%, 10/1/19	Ba2/BB	5,346,000
28,960		Ipalco Enterprises, Inc. 7.375%-7.625%, 11/14/08-11/14/11	Ba1/BB-	32,290,400
7,000		PPL Capital Fund Trust I, 7.29%, 5/18/06	Ba1/BB+	7,363,601
10,000		TXU Energy Co., 7.00%, 3/15/13	Baa2/BBB	11,226,850
				58,411,851
		Energy - 4.2%
7,000		Centerpoint Energy, 6.50%, 2/1/08	Ba1/BBB	7,572,957
2,807		Salton Sea Funding Inc., 8.30%, 5/30/11, Ser. E	Ba1/BB+	3,012,727
14,000		Sithe Independence Funding Corp., 9.00%, 12/30/13, Ser. A	Ba1/BBB-	15,878,688
10,000		Southern Natural Gas Co., 8.875%, 3/15/10	B1/B-	11,300,000
10,000		Southern Star Cent Corp., 7.375%, 11/15/16 (b)	Ba1/BBB-	10,887,500
4,000		TXU Gas Capital I,.2.95%, 7/1/28 (a)	WR/NR	3,939,696
17,400		Williams Cos., Inc., 7.875%, 9/1/21	B3/B+	18,944,250
				71,535,818

PIMCO CORPORATE OPPORTUNITY FUND

SCHEDULE OF INVESTMENTS

August 31, 2004

(unaudited) (continued)

Principal Amount (000)
			Credit Rating (Moody’s/S&P)	Value*
		CORPORATE BONDS & NOTES (continued)
		Financial Services - 6.2%
$	2,500	Canadian Oil Sands Trust, 4.80%, 8/10/09 (b)	Baa2/BBB+	$	2,542,532
30,368		Finova Group, Inc., 7.50%, 11/15/09	NR/NR	15,297,734
1,000		Ford Motor Credit Co., 6.50%, 1/25/07	A3/BBB-	1,063,544
25,000		General Electric Capital Corp., 6.00%, 6/15/12, Ser. MTNA	Aaa/AAA	27,433,475
21,500		General Motors Acceptance Corp., 2.595%-2.88%, 10/20/05-5/18/06 (a)	A3/BBB-	21,654,379
7,000		General Motors Acceptance Corp., 2.51%, 1/16/07 Ser. MTN (a)	A3/BBB-	7,012,754
10,000		General Motors Acceptance Corp., 8.00%, 11/1/31	A3/BBB-	10,390,460
5,000		General Motors Acceptance Corp., 8.875%, 6/1/10	A3/BBB-	5,817,650
2,000		Goldman Sachs Group Inc., 1.98%, 7/23/09, Ser. MTNB (a)	Aa3/A+	2,005,474
9,200		Mizuho JGB Investment, 9.87%, 6/30/08 (b)	Baa3/BB	10,813,956
2,110		Mizuho Preferred Capital, 8.79%, 6/30/08 (b)	Baa3/BB	2,401,180
				106,433,138
		Financing - 0.5%
7,500		Pemex Project Master Trust, 8.625%, 2/1/22	Baa1/BBB-	8,568,750

		Food Services-0.3%
6,000		Delhaize America Inc.,7.375%- 8.125%, 4/15/06-4/15/11	Ba1/BB+	6,776,130

		Healthcare & Hospitals - 2.2%
19,000		Healthsouth Corp., 7.625%, 6/1/12	WR/NR	18,287,500
23,000		Tenet Healthcare Corp., 6.375%-7.375%, 12/1/11-11/15/31	B3/B-	19,665,000
				37,952,500
		Hotels/Gaming - 3.6%
		Caesars Entertainment,
900		8.50%, 11/15/06	Ba1/BB+	990,000
4,875		9.375%, 2/15/07	Ba2/BB-	5,411,250
4,000		Harrahs Operating Co., Inc., 5.50%, 7/1/10 (b)	Baa3/BBB-	4,100,772
13,500		Hilton Hotels Corp., 7.625%, 12/1/12	Baa3/BBB-	15,491,250
1,000		La Quinta Corp., 7.40%, 9/15/05	Ba3/BB-	1,041,250
1,200		Mandalay Resort Group, 9.375%, 2/15/10	Ba3/BB-	1,362,000
2,500		MGM Mirage Inc., 8.50%, 9/15/10	Ba1/BB+	2,825,000
24,150		Starwood Hotels & Resorts, 7.375%-7.875%, 5/1/12-11/15/25	Ba1/BB+	26,154,750
4,317		Times Square Hotels Trust, 8.528%, 8/1/26 (b) (f)	Baa3/BB+	4,660,837
				62,037,109

		Insurance-0.1%
1,000		Prudential Financial Inc., 4.104%, 11/15/06	A3/A-	1,020,290

		Miscellaneous - 2.7%
5,000		AES Red Oak LLC., 9.20%, 11/30/29, Ser. B	B2/B+	5,375,000
8,625		Cedar Brakes II LLC., 9.875%, 9/1/13	Caa1/CCC+	9,142,553
26,100		Morgan Stanley TRACERS, 5.878%, 3/1/07 (b) (f) (g)	A3/NR	27,517,778
		Small Business Administration,
2,438		6.03%, 2/1/12	NR/NR	2,590,385
1,570		6.44%, 6/1/21, Ser. 20-F	NR/NR	1,707,686
				46,333,402
		Multi-Media - 8.9%
35,250		AOL Time Warner Inc., 6.875%-8.375%, 5/1/12-7/15/33	Baa1/BBB+	41,697,208
7,500		Comcast Cable Communications, 6.75%, 1/30/11	Baa3/BBB	8,315,182
11,000		Comcast Cable Communications Holdings, 8.375%, 3/15/13	Baa3/BBB	13,321,968
5,000		Continental Cablevision, 8.875%, 9/15/05	Baa3/BBB	5,314,000
		CSC Holdings Inc.,
30,690		7.25%-7.875%, 2/15/18-7/15/18	B1/BB-	31,361,647
4,500		8.125%, 8/5/09, Ser. B.	B1/BB-	4,848,750
16,050		News America Holdings, Inc. 7.43%, 10/1/26	Baa3/BBB-	18,350,447
15,000		Rogers Cable Inc., 8.75%, 5/1/32	Ba2/BBB-	16,507,695
13,000		Shaw Communications Inc., 7.20%-8.25%, 4/11/10-12/15/11	Ba2/BB+	14,358,107
				154,075,004
		Oil & Gas - 5.4%
		Centerpoint Energy Resources,
10,000		7.25%, 9/1/10, Ser. B	Ba2/BBB-	11,152,480
28,000		7.75%-7.875%, 2/15/11-4/1/13	Ba1/BBB	32,603,549
3,800		Columbia Energy Group, 7.42%, 11/28/15, Ser. F	Baa2/BBB	4,054,725
28,200		El Paso CGP Co., 7.42%-7.625%, 9/1/08-2/15/37	Caa1/CCC+	23,576,000
14,000		Gaz Capital, 8.625%, 4/28/34	Ba2/BB-	14,484,722
4,000		Ras Laffan Natural Gas., 3.437%, 9/15/09	Baa1/A-	3,968,128
2,500		XTO Energy Inc., 6.25%, 4/15/13	Baa3/BBB-	2,715,527
				92,555,131

PIMCO CORPORATE OPPORTUNITY FUND

SCHEDULE OF INVESTMENTS

August 31, 2004

(unaudited) (continued)

Principal Amount (000)
			Credit Rating (Moody’s/S&P)	Value*
		CORPORATE BONDS & NOTES (continued)
		Paper - 3.7%
$	33,500	Abitibi-Consolidated Inc., 7.50%-8.50%, 4/1/28-8/1/29	Ba2/BB	$	30,363,750
		Georgia-Pacific Corp.,
18,825		7.50%-8.25%, 5/15/06-11/15/29	Ba3/BB+	19,541,938
9,750		8.875%, 2/1/10	Ba2/BB+	11,480,625
2,000		Smurfit Capital Funding plc, 7.50%, 11/20/25	B1/BB-	1,930,000
				63,316,313

		Retail-0.8%
13,000		JC Penny Co. Inc., 8.125%, 4/1/27	Ba3/BB+	14,170,000

		Telecommunications - 14.3%
35,000		AT&T Corp., 8.00%, 11/15/31	Ba1/BB+	36,925,000
1,413		Calpoint Receivables Structured Trust 7.44%, 12/10/06 (b)	Caa1/NR	1,416,675
6,000		Cincinnati Bell Inc., 6.33%, 12/30/05	Ba2/NR	5,925,000
18,248		MCI Inc., 5.908%-7.735%, 5/1/07-5/1/09	NR/NR	17,507,288
10,000		Nextel Communications Inc., 7.375%, 8/1/15	Ba3/BB	10,500,000
21,650		Panamsat Corp., 6.875%, 1/15/28	B1/BB+	18,321,312
23,670		Qwest Capital Funding, 7.00%-7.90%, 8/3/09-8/15/10	Caa2/B	20,986,950
		Qwest Corp.,
600		6.625%, 9/15/05	Ba3/BB-	615,750
3,000		7.25%, 9/15/25	Ba3/BB	2,632,500
6,150		8.875%, 3/15/12 (b)	Ba3/BB-	6,626,625
7,950		13.00%, 12/15/07 (b)	Caa1/B	9,043,125
12,340		Rogers Cantel Inc., 9.75%, 6/1/16	Ba3/BB+	14,314,400
67,950		Sprint Capital Corp. (FON Group), 6.375%-9.25% 5/1/09-3/15/32	Baa3/BBB-	78,996,123
19,000		Verizon Global Funding Corp., 6.875%-7.25%, 12/1/10-6/15/12	A2/A+	21,758,449
				245,569,197
		Utilities - 8.4%
13,363		East Coast Power LLC., 6.737%-7.066%, 3/31/08-3/31/12, Ser. B	Baa3/BBB-	13,666,083
7,000		FirstEnergy Corp., 7.375%, 11/15/31, Ser. C	Baa3/BB+	7,844,816
2,950		Indianapolis Power & Light, 7.375%, 8/1/07	Baa2/BBB-	3,211,497
		Midwest Generation LLC., pass thru certificates,
28,380		8.30%, 7/2/09, Ser. A	B1/B	29,657,100
13,070		8.56%, 1/2/16, Ser. B	B1/B	13,788,850
5,000		8.75%, 5/1/34 (b)	B1/B-	5,337,500
44,500		PSEG Energy Holdings, 8.50%-10.00%, 10/1/09-6/15/11	Ba3/BB-	49,512,500
11,455		South Point Energy Center LLC, 8.40%, 5/30/12 (b)	B2/B	9,794,025
10,500		Westar Energy Inc., 7.875%, 5/1/07	Ba1/BBB-	11,713,285
				144,525,656

		Waste Disposal-0.0%
500		Allied Waste North America, 7.625%, 1/1/06, Ser. B	B2/BB-	526,875

		Total Corporate Bonds & Notes (cost-$1,229,977,501)		1,347,610,825

PIMCO CORPORATE OPPORTUNITY FUND

SCHEDULE OF INVESTMENTS

August 31, 2004

(unaudited) (continued)

Principal Amount (000)
			Credit Rating (Moody’s/S&P)	Value*
		MORTGAGE-RELATED SECURITIES-1.3%
		Asset-Backed Securities-0.3%
$	4,729	GSAMP Trust, 2.16%, 6/25/34 (a) (f)	Aaa/AAA	$	4,739,664
925		Nextcard Credit Card Trust, 2.12%, 12/15/06-4/16/07 (a) (b) (i)	B3/B-	923,721
				5,663,385
		Collateralized Bond Obligations-1.0%
8,513		GSMPS Mortgage Loan Trust, 7.50%, 12/21/26 (a) (c)	NR/NR	9,102,470
2,129		PPM America High Yield CBO Ltd., 2.07%, 6/1/11 (a) (f) (i)	NR/NR	1,645,652
6,694		Small Business Administration, 5.24%, 8/1/23	NR/NR	6,901,421
				17,649,543

		Total Mortgage Related Securites (cost-$23,310,044)		23,312,928

		SOVEREIGN DEBT OBLIGATIONS-6.0%
		Brazil-2.5%
		Federal Republic of Brazil,
13,120		2.0625%, 4/15/06, Ser. EI-L (a)	B1/BB-	13,123,582
29,524		11.00%-11.50%, 3/12/08-1/11/12	B2/B+	30,383,664
				43,507,246

		Colombia-0.1%
1,000		Republic of Colombia, 10.00%, 1/23/12	Ba2/BB	1,120,000

		Mexico-1.1%
16,000		United Mexican States, 6.375%-11.375%, 1/14/11-9/24/22	Baa2/BBB-	20,087,000

		Panama-0.9%
13,000		Republic of Panama, 9.375%-10.75%, 7/23/12-5/15/20	Ba1/BB	15,205,000

		Peru-1.0%
15,000		Republic of Peru, 9.125%, 2/21/12	Ba3/BB	16,575,000

		Russia-0.3%
6,294		Russian Federation, 5.00%, 3/1/30 Ser. REGS	Baa3/BB+	6,048,534

		Ukraine-0.1%
1,560		Ukraine Government, 7.65%-11.00%, 3/15/07-6/11/13	B1/B	1,620,388

		Total Sovereign Debt Obligations (cost-$91,059,140)		104,163,168

		SENIOR LOANS (c) (e) (f) (h) - 3.2%
		Finance - 0.7%
11,940		Nextel Finance Co., 3.8125%, 6/30/08, Term E	NR/NR	12,016,464

		Multi-Media - 0.6%
10,000		Charter Communications Holdings, LLC, 4.92%, 3/18/08, Term B	NR/NR	9,882,290

		Oil & Gas - 0.5%
8,190		Aquila, Inc. 8.00%, 4/15/06, Term 2	NR/NR	8,484,826

		Telecommunications-0.2%
2,963		Crown Castle International Corp. 5.09%, 3/15/08, Term B	NR/NR	2,971,047

		Utilities-1.2%
1,429		AES Corp. 5.32%-5.35%, 7/29/08, Term B	NR/NR	1,442,347
19,917		Reliant Resources Inc., 5.35%, 3/15/07	NR/NR	19,941,939
				21,384,286

		Total Senior Loans (cost-$52,871,721)		54,738,913

		U.S. GOVERNMENT AGENCIES-5.5%
93,500		Fannie Mae 5.00%, 9/20/19 - 9/15/34 (cost-$93,523,438)	Aaa/AAA	94,097,678

		U.S. TREASURY NOTES-0.1%
1,300		3.875%, 5/15/09 (cost $1,293,747)	Aaa/AAA	1,334,939

PIMCO CORPORATE OPPORTUNITY FUND

SCHEDULE OF INVESTMENTS

August 31, 2004

(unaudited) (continued)

Principal Amount (000)
			Credit Rating (Moody’s/S&P)	Value*
		SHORT-TERM INVESTMENTS-5.8%
		COMMERCIAL PAPER-1.8%
		Banking-0.6%
$	4,300	Bank of Ireland, 1.28%, 9/8/04	Aa3/NR	$	4,298,930
5,400		Royal Bank of Scotland plc., 1.63%, 11/3/04	NR/NR	5,384,178
				9,683,108

		Finance-1.0%
14,000		Ford Motor Credit Co., 2.03625%-2.06%, 6/30/05-7/18/05, Ser. MTN (a)	A3/BBB-	14,009,625
2,800		UBS Finance LLC, 1.57%-1.70%, 10/25/04-11/30/04	P-1/A-1+	2,787,876
				16,797,501
		Tobacco-0.2%
3,900		Altria Group Inc., 1.80%, 10/29/04	P-3/A-2	3,900,000

		Total Commercial Paper (cost-$30,477,372)		30,380,609

		CORPORATE NOTES- 3.6%
		Aerospace-0.9%
15,000		Northrop Grumman Corp., 8.625%, 10/15/04	WR/NR	15,115,170

		Automotive-0.1%
1,470		DaimlerChrysler Holdings Co., 6.90%, 9/1/04	A3/BBB	1,470,000

		Finance-0.8%
2,500		CIT Group, Inc., 2.10% 7/29/05 (a)	A2/A	2,508,692
10,000		Ford Motor Credit Co., 7.60%, 8/1/05	A3/BBB-	10,433,520
1,000		Household Finance Corp., 8.00%, 5/9/05	A1/A	1,039,845
				13,982,057

		Healthcare & Hospitals-0.3%
5,000		HCA Inc., 6.91%, 6/15/05	Ba1/BB+	5,133,285

		Metals & Mining-0.1%
1,650		Alcan Inc., 1.62%, 12/8/04 (a)	Baa1/A-	1,650,416

		Oil & Gas-0.9%
11,500		Centerpoint Energy Resources, 8.125%, 7/15/05, Ser. B	Ba1/BBB	12,042,374
3,000		Pioneer Natural Resources Co., 8.875%, 4/15/05	Baa3/BBB-	3,113,934
				15,156,308

		Telecommunications-0.3%
5,000		TCI Communications Inc., 7.25%, 8/1/05	Baa3/BBB	5,200,665

		Utilities-0.2%
4,735		AES Corp., 10.00%, 7/15/05 (c)	Ba3/BB	4,829,841

		Total Short-Term Corporate Notes (cost-$61,839,665)		62,537,742

		U.S. TREASURY BILLS (j) - 0.2%
4,045		1.16%-1.315%, 9/16/04 (cost-$4,042,750)	Aaa/AAA	4,042,891

		REPURCHASE AGREEMENT - 0.2%
2,911		State Street Bank & Trust Co., dated 8/31/04, 1.15%, due 9/1/04, proceeds $2,911,093: collateralized by Federal Farm Credit Bank, 10/20/04, valued at $2,971,992 (cost-$2,911,000)		2,911,000

		Total Short-Term Investments (cost-$99,270,787)		99,872,242
Contracts
		PUT OPTIONS PURCHASED (d) -0.1%
350,000		European Style, Over-the Counter, Strike rate, 1.25% expires 12/20/04		867,475
150,000		European Style, Over-the Counter, Strike rate, 1.25% expires 12/20/04		371,775
		Total Put Options Purchased (premiums paid-$2,145,000)		1,239,250

		Total Investments, before options written (cost-$1,593,451,378)-100.2%		1,726,369,943

PIMCO CORPORATE OPPORTUNITY FUND

SCHEDULE OF INVESTMENTS

August 31, 2004

(unaudited) (continued)

			Value*
Contracts
		CALL OPTIONS WRITTEN (d) - (0.2)%
(16,050	)	News America Holdings, Strike price $100, expires 10/1/06	$	(1,135,249	)
(150,000	)	European Style, High Volatility, Strike rate 1.30%, expires 12/20/04	(569,385		)
(350,000	)	European Style, High Volatility, Strike rate 1.30%, expires 12/20/04	(1,328,565		)

		Total Call Options Written (premiums received-$2,145,000)	(3,033,199		)

		PUT OPTIONS WRITTEN (d) - (0.0)%
(4,000	)	Echostar Credit,
		Strike rate 3.00%, expires 9/20/04 (premiums received-$8,000)	(373		)

		Total Investments, net of options written (cost-$1,591,298,378)-100.0%	$ 1,723,336,371

Notes to Schedule of Investments:

Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. 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 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. The independent pricing service uses information provided by market makers or estimates of market value obtained from yield data relating to investments or securities with similar characteristics. 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 to maturity exceeded 60 days. Securities for which market quotations are not readily available or if a development/event occurs that may significantly impact the value of the security, may be fair valued pursuant to guidelines established by the Board of Trustees. 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) Floating Rate Security. Interest rate shown is the rate in effect at August 31, 2004.

(b) 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 to qualified institutional investors.

(d) Non-income producing security.

(e) 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 Offer 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.

(f) Illiquid security.

(g) Credit-linked trust certificate.

(h) Remaining maturities of floating rate loans maybe less than the stated maturities shown as a result of contractual or optional payments by the borrower. Such prepayments cannot be predicted with certainty.

(i) Fair-valued security.

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

Glossary:

CBO - Collateralized Bond Obligation

NR- Not Rated

REIT- Real Estate Investment Trust

TRACERS- Traded Custody Receipts

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 Inc.

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

Date: October 28, 2004

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

Date: October 28, 2004

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: October 28, 2004

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

Date: October 28, 2004