FORM 5 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Form 3 Holdings Reported Form 4 Transactions Reported

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * GROSS WILLIAM H 2. Issuer Name and Ticker or Trading Symbol PCM FUND, INC. [PCM] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) __X__ Other (specify below) EXECUTIVE COMMITTEE MEMBER (Last) (First) (Middle) 840 NEWPORT CENTER DRIVE, SUITE 100 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year) 12/31/2007 (Street) NEWPORT BEACH, CA 92660 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Reporting (check applicable line) _X_ Form Filed by One Reporting Person ___ Form Filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Amount (A) or (D) Price COMMON STOCK 01/05/1994   P4 2,000 A $ 13.625 2,000 D   COMMON STOCK 02/08/1994   P4 34,900 A $ 12.55 34,900 D   COMMON STOCK 02/09/1994   P4 19,200 A $ 12.55 19,200 D   COMMON STOCK 02/10/1994   P4 45,900 A $ 12.63 45,900 D   COMMON STOCK 07/01/1994   P4 5,200 A $ 11.93 5,200 D   COMMON STOCK 07/05/1994   P4 12,400 A $ 11.93 12,400 D   COMMON STOCK 07/06/1994   P4 4,000 A $ 11.93 4,000 D   COMMON STOCK 07/08/1994   P4 700 A $ 11.93 700 D   COMMON STOCK 07/11/1994   P4 1,000 A $ 11.3889 1,000 D   COMMON STOCK 07/28/1994   P4 3,000 A $ 11.93 3,000 D   COMMON STOCK 10/26/1994   P4 2,300 A $ 11.5 2,300 D   COMMON STOCK 05/08/1995   P4 700 A $ 12.375 700 D   COMMON STOCK 01/28/1997   P4 700 A $ 13.125 700 D   COMMON STOCK 08/21/1997   S4 1,700 D $ 13.75 1,700 D   COMMON STOCK 04/07/1998   S4 100 D $ 14 100 D (1)   COMMON STOCK 09/27/2002   G4 148,631 D $ 0 148,631 D   COMMON STOCK 05/01/1995(2)   G4 1,500 D $ 0 3,600 D (1) Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GROSS WILLIAM H 840 NEWPORT CENTER DRIVE SUITE 100 NEWPORT BEACH, CA 92660	Â	Â	Â	EXECUTIVE COMMITTEE MEMBER

Signatures

/S/ STEVEN LUDWIG, ATTORNEY-IN-FACT FOR WILLIAM H. GROSS		12/22/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The number reflects the aggregate form and amount of securities beneficially owned as of the FYE reported in Box 3. The aggregate holdings in Column 5 were incorrectly stated in the last filed Form 4 filed on 09/08/06.
(2)	The exact date of this transaction is unknown, but it did occur sometime during the first five months of 1995.
  Remarks: Pacific Investment Management Company LLC (PIMCO) is the investment adviser of the Issuer.  Mr. Gross is a member of PIMCO's Executive Committee.

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