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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Allianzgi Global Equity & Convertible Income Fund | NYSE:NGZ | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.59 | 0.00 | 01:00:00 |
OMB APPROVAL | |||
OMB Number: | 3235-0578 | ||
Expires: | April 30, 2010 | ||
Estimated average burden | |||
hours per response: | 10.5 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act File Number: 811-22067
Registrant Name: Nicholas-Applegate Global Equity & Convertible Income Fund
Address of Principal Executive Offices: 1345 Avenue of the Americas New York, New York 10105
Name and Address of Agent for Service: Lawrence G. Altadonna 1345 Avenue of the Americas
New York, New York 10105
Registrants telephone number, including area code: 212-739-3371
Date of Fiscal Year End: August 31, 2009
Date of Reporting Period: November 30, 2008
Form N-Q is to be used by management investment companies, other than small business investment companies 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.
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Shares | Value* | ||||
COMMON STOCK64.5% | |||||
Australia 2.1% | |||||
Airlines0.3% | |||||
152,554 | Qantas Airways Ltd. | $232,297 | |||
Banking0.5% | |||||
19,579 | Commonwealth Bank of Australia | 437,802 | |||
Biotechnology0.5% | |||||
17,462 | CSL Ltd. | 397,691 | |||
Engineering & Construction0.3% | |||||
14,173 | Leighton Holdings Ltd. | 227,017 | |||
Financial Services0.1% | |||||
139,994 | Challenger Financial Services Group Ltd. | 124,290 | |||
Metals & Mining0.4% | |||||
13,924 | BHP Billiton Ltd. | 261,277 | |||
58,602 | OneSteel Ltd. | 98,918 | |||
360,195 | |||||
Austria0.1% | |||||
Building Materials0.0% | |||||
3,027 | Wienerberger AG | 42,895 | |||
Metals & Mining0.1% | |||||
2,316 | Voestalpine AG | 49,138 | |||
Belgium0.2% | |||||
Chemicals0.2% | |||||
5,374 | Tessenderlo Chemie NV | 157,671 | |||
Bermuda1.6% | |||||
Apparel0.1% | |||||
19,500 | Espirit Holdings Ltd. | 92,482 | |||
Financial Services1.2% | |||||
31,248 | Lazard Ltd. | 976,812 | |||
Investment Companies0.3% | |||||
59,000 | Cheung Kong Infrastructure Holdings Ltd. | 229,836 | |||
Transportation0.0% | |||||
10,500 | Orient Overseas International Ltd. | 16,846 | |||
Canada0.5% | |||||
Computers0.5% | |||||
9,100 | Research in Motion Ltd. (a) | 386,477 | |||
Cayman Islands0.1% | |||||
Chemicals0.0% | |||||
30,500 | Kingboard Chemical Holding Ltd. | 45,560 | |||
Forest Products & Paper0.0% | |||||
28,000 | Lee & Man Paper Manufacturing Ltd. | 9,776 | |||
Semiconductors0.1% | |||||
16,500 | ASM Pacific Technology Ltd. | 45,952 | |||
Denmark0.1% | |||||
Building/Construction0.1% | |||||
2,000 | FLSmidth & Co. AS | 64,402 |
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Shares | Value* | ||||
Finland0.3% | |||||
Food0.2% | |||||
4,984 | Kesko Oyj | $122,184 | |||
Telecommunications0.1% | |||||
7,353 | Nokia Oyj | 104,050 | |||
France3.2% | |||||
Airlines0.1% | |||||
4,355 | Air France-KLM | 56,748 | |||
Automotive0.3% | |||||
9,874 | Peugeot S.A. | 179,408 | |||
1,838 | Renault S.A. | 40,605 | |||
220,013 | |||||
Banking0.5% | |||||
4,922 | BNP Paribas | 272,410 | |||
12,598 | Credit Agricole S.A. | 140,598 | |||
413,008 | |||||
Home Furnishings0.1% | |||||
2,043 | SEB S.A. | 62,162 | |||
Machinery-Diversified0.3% | |||||
4,912 | Alstom S.A. | 262,918 | |||
Oil & Gas0.5% | |||||
8,490 | Total S.A. | 445,484 | |||
Telecommunications1.4% | |||||
47,233 | France Telecom S.A. (b) | 1,213,548 | |||
Germany1.9% | |||||
Airlines0.4% | |||||
23,665 | Deutsche Lufthansa AG | 310,345 | |||
Automotive0.9% | |||||
17,212 | Daimler AG | 538,473 | |||
3,950 | Porsche Automobile Holding SE | 253,715 | |||
792,188 | |||||
Chemicals0.4% | |||||
7,688 | K+S AG | 343,972 | |||
Electric0.1% | |||||
568 | RWE AG | 47,626 | |||
Metals & Mining0.1% | |||||
1,548 | Salzgitter AG | 106,738 | |||
Greece0.1% | |||||
Banking0.1% | |||||
4,039 | National Bank of Greece S.A. | 77,630 | |||
Hong Kong1.1% | |||||
Airlines0.2% | |||||
197,000 | Cathay Pacific Airways Ltd. | 191,483 | |||
Electric0.1% | |||||
38,000 | China Resources Power Holdings Co. Ltd | 76,660 | |||
Financial Services0.1% | |||||
8,000 | Hong Kong Exchanges & Clearing Ltd. | 63,436 |
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Shares | Value* | ||||
Hong Kong (continued) | |||||
Holding Companies Diversified0.4% | |||||
56,000 | Swire Pacific Ltd. | $377,151 | |||
Real Estate0.3% | |||||
41,000 | Hang Lung Group Ltd. | 136,695 | |||
118,000 | New World Development Ltd. | 93,860 | |||
230,555 | |||||
Ireland0.0% | |||||
Banking0.0% | |||||
20,740 | Anglo Irish Bank Corp. PLC | 22,490 | |||
Financial Services0.0% | |||||
9,738 | Irish Life & Permanent PLC | 21,467 | |||
Italy0.9% | |||||
Energy0.4% | |||||
54,358 | Enel SpA | 339,559 | |||
Home Furnishings0.1% | |||||
14,735 | Indesit Co. SpA | 80,353 | |||
Utilities0.4% | |||||
13,395 | ENI SpA | 303,651 | |||
Japan6.1% | |||||
Agriculture0.1% | |||||
16 | Japan Tobacco, Inc. | 59,073 | |||
Automotive0.1% | |||||
5,800 | Tokai Rika Co., Ltd. | 55,250 | |||
Banking0.4% | |||||
169,000 | Hokuhoku Financial Group, Inc. | 353,681 | |||
Electrical Components & Equipment0.1% | |||||
13,000 | Toshiba Corp. | 47,783 | |||
Electronics0.3% | |||||
5,500 | Mitsumi Electric Co., Ltd. | 70,731 | |||
23,000 | Nippon Chemi-Con Corp. | 52,397 | |||
14,000 | Star Micronics Co., Ltd. | 142,300 | |||
265,428 | |||||
Entertainment0.5% | |||||
7,900 | Sankyo Co., Ltd. | 434,124 | |||
Financial Services0.4% | |||||
490 | ORIX Corp. | 30,639 | |||
13,600 | Promise Co., Ltd. | 281,600 | |||
312,239 | |||||
Home Furnishings0.3% | |||||
13,300 | Sony Corp. | 259,588 | |||
Machinery-Diversified0.1% | |||||
4,700 | Shima Seiki Manufacturing Ltd. | 89,495 | |||
Manufacturing0.4% | |||||
3,500 | FUJIFILM Holdings Corp. | 85,945 | |||
5,000 | Glory Ltd. | 88,237 | |||
5,000 | Nikon Corp. | 56,771 | |||
7,000 | Olympus Corp. | 146,015 | |||
376,968 |
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Shares | Value* | ||||
Japan (continued) | |||||
Metals & Mining0.4% | |||||
4,300 | JFE Holdings, Inc. | $105,011 | |||
43,000 | Nippon Steel Corp. | 135,043 | |||
25,000 | Sumitomo Metal Industries Ltd. | 64,594 | |||
304,648 | |||||
Pharmaceuticals0.2% | |||||
6,000 | Chugai Pharmaceutical Co., Ltd. | 104,376 | |||
3,300 | Daiichi Sankyo Co., Ltd. | 67,892 | |||
172,268 | |||||
Real Estate0.1% | |||||
2,000 | Daito Trust Construction Co., Ltd. | 85,644 | |||
Retail0.0% | |||||
3,000 | Aoyama Trading Co., Ltd. | 39,126 | |||
Telecommunications0.5% | |||||
50 | KDDI Corp. | 327,000 | |||
21 | Nippon Telegraph & Telephone Corp. | 92,792 | |||
419,792 | |||||
Toys/Games/Hobbies0.1% | |||||
300 | Nintendo Co., Ltd. | 93,585 | |||
Transportation0.8% | |||||
17 | East Japan Railway Co. | 131,950 | |||
71,000 | Mitsui OSK Lines Ltd. | 379,340 | |||
32,000 | Nippon Yusen KK | 174,715 | |||
686,005 | |||||
Wholesale1.3% | |||||
54,000 | ITOCHU Corp. | 274,997 | |||
70,000 | Marubeni Corp. | 246,462 | |||
26,000 | Mitsui & Co., Ltd. | 231,844 | |||
36,900 | Sumitomo Corp. | 326,406 | |||
1,079,709 | |||||
Luxembourg0.1% | |||||
Metals & Mining0.1% | |||||
3,088 | ArcelorMittal | 74,305 | |||
Netherlands0.1% | |||||
Insurance0.1% | |||||
14,541 | ING Groep NV | 122,573 | |||
New Zealand 0.1% | |||||
Building Materials0.1% | |||||
27,259 | Fletcher Building Ltd. | 83,963 | |||
Norway0.2% | |||||
Chemicals0.2% | |||||
10,500 | Yara International ASA (a) | 174,089 | |||
Oil & Gas0.0% | |||||
3,400 | TGS Nopec Geophysical Co. ASA (a) | 22,248 | |||
Singapore0.8% | |||||
Airlines0.3% | |||||
40,000 | Singapore Airlines Ltd. | 277,690 | |||
Banking0.2% | |||||
36,000 | Oversea-Chinese Banking Corp. | 123,578 | |||
Electronics0.1% | |||||
26,000 | Venture Corp Ltd. | 71,184 |
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Shares | Value* | ||||
Singapore (continued) | |||||
Real Estate0.0% | |||||
71,000 | Wing Tai Holdings Ltd. | $33,308 | |||
Wholesale0.2% | |||||
17,000 | Jardine Cycle & Carriage Ltd. | 118,725 | |||
Spain1.6% | |||||
Building/Construction0.5% | |||||
9,221 | ACS Actividades de Construccion y Servicios S.A. | 365,244 | |||
2,822 | Sacyr Vallehermoso S.A. | 27,252 | |||
392,496 | |||||
Telecommunications1.1% | |||||
45,274 | Telefonica S.A. | 916,388 | |||
Sweden1.2% | |||||
Banking0.2% | |||||
19,000 | Nordea Bank AB | 137,295 | |||
4,200 | Swedbank AB | 30,348 | |||
167,643 | |||||
Hand/Machine Tools0.1% | |||||
20,200 | Sandvik AB | 119,337 | |||
Home Furnishings0.1% | |||||
5,400 | Electrolux AB | 45,950 | |||
Machinery-Diversified0.1% | |||||
14,200 | Volvo AB | 63,457 | |||
Manufacturing0.1% | |||||
16,000 | Trelleborg AB | 86,800 | |||
Retail0.6% | |||||
13,200 | Hennes & Mauritz AB | 488,828 | |||
Switzerland1.3% | |||||
Financial Service 0.1% | |||||
2,773 | Credit Suisse Group AG | 81,227 | |||
Insurance 0.8% | |||||
3,450 | Zurich Financial Services AG | 672,540 | |||
Pharmaceuticals 0.3% | |||||
5,878 | Actelion Ltd. (a) | 264,697 | |||
Retail 0.1% | |||||
656 | Swatch Group AG | 77,475 | |||
United Kingdom 6.6% | |||||
Agriculture 0.5% | |||||
14,650 | British American Tobacco PLC | 382,637 | |||
Banking 0.3% | |||||
19,664 | Barclays PLC | 52,026 | |||
17,896 | Lloyds TSB Group PLC | 46,098 | |||
51,937 | Royal Bank of Scotland Group PLC (a) | 44,488 | |||
9,470 | Standard Chartered PLC | 123,281 | |||
265,893 | |||||
Commercial Services 0.2% | |||||
13,579 | Aggreko PLC | 93,722 | |||
14,108 | Michael Page International PLC | 46,554 | |||
140,276 | |||||
Food 0.4% | |||||
92,742 | WM Morrison Supermarkets PLC | 346,407 |
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Shares | Value* | ||||
United Kingdom (continued) | |||||
Home Furnishings0.0% | |||||
72,326 | GALIFORM PLC | $18,493 | |||
Insurance 0.5% | |||||
253,484 | Old Mutual PLC | 214,478 | |||
45,432 | Standard Life PLC | 183,916 | |||
398,394 | |||||
Manufacturing 0.2% | |||||
17,900 | Charter PLC | 84,185 | |||
49,614 | Cookson Group PLC | 84,521 | |||
168,706 | |||||
Metals & Mining1.2% | |||||
6,416 | Anglo American PLC | 152,399 | |||
36,554 | BHP Billiton PLC (b) | 659,951 | |||
5,372 | Rio Tinto PLC | 133,316 | |||
4,527 | Xstrata PLC | 65,108 | |||
1,010,774 | |||||
Oil & Gas 2.2% | |||||
16,993 | BG Group PLC | 241,963 | |||
Royal Dutch Shell PLC, | |||||
16,201 | Class A | 434,188 | |||
45,399 | Class B (b) | 1,189,351 | |||
1,865,502 | |||||
Retail 0.6% | |||||
16,621 | Game Group PLC | 40,046 | |||
26,858 | Marks & Spencer Group PLC | 93,568 | |||
21,928 | Next PLC | 374,740 | |||
508,354 | |||||
Telecommunications 0.4% | |||||
165,068 | Vodafone Group PLC | 323,038 | |||
Venture Capital 0.1% | |||||
17,856 | 3i Group PLC | 113,307 | |||
United States 34.2% | |||||
Aerospace/Defense 1.8% | |||||
10,300 | L-3 Communications Holdings, Inc. | 691,851 | |||
16,850 | United Technologies Corp. | 817,731 | |||
1,509,582 | |||||
Agriculture 0.7% | |||||
20,500 | Archer-Daniels-Midland Co. | 561,290 | |||
Automotive 0.6% | |||||
31,200 | Johnson Controls, Inc. | 550,992 | |||
Beverages 2.5% | |||||
20,100 | Coca-Cola Co. | 942,087 | |||
15,600 | Molson Coors Brewing Co. Cl. B | 693,732 | |||
7,600 | PepsiCo., Inc. | 430,920 | |||
2,066,739 | |||||
Coal 0.2% | |||||
5,900 | Peabody Energy Corp. | 138,237 | |||
Commercial Services 0.9% | |||||
21,900 | McKesson Corp. | 765,186 | |||
Computers 1.4% | |||||
51,700 | EMC Corp. | 546,469 | |||
7,500 | International Business Machines Corp. | 612,000 | |||
1,158,469 | |||||
Cosmetics/Personal Care 1.3% | |||||
16,500 | Procter & Gamble Co. | 1,061,775 | |||
Electric 0.4% | |||||
12,500 | Constellation Energy Group, Inc. | 305,875 |
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Shares | Value* | ||||
United States (continued) | |||||
Electric Equipment & Instruments 0.8% | |||||
9,700 | Diamond Offshore Drilling, Inc. | $715,860 | |||
Electronics 0.4% | |||||
14,000 | Amphenol Corp. | 325,080 | |||
Healthcare-Products 1.6% | |||||
15,600 | Baxter International, Inc. | 825,240 | |||
3,680 | Intuitive Surgical, Inc. (a) | 487,710 | |||
1,312,950 | |||||
Insurance 0.7% | |||||
23,000 | Cigna Corp. | 278,530 | |||
46,000 | Genworth Financial, Inc. Cl. A | 66,700 | |||
12,700 | Prudential Financial, Inc. | 275,590 | |||
620,820 | |||||
Internet 1.4% | |||||
14,930 | Amazon.com, Inc. (a) | 637,511 | |||
2,000 | Google, Inc. Cl. A (a) | 585,920 | |||
1,223,431 | |||||
Machinery Construction & Mining 0.2% | |||||
6,400 | Joy Global, Inc | 149,056 | |||
Machinery-Diversified 1.1% | |||||
18,700 | AGCO Corp. (a) | 460,394 | |||
14,200 | Deere & Co. | 494,302 | |||
954,696 | |||||
Manufacturing 1.0% | |||||
29,800 | General Electric Co. | 511,666 | |||
20,200 | Textron, Inc. | 307,646 | |||
819,312 | |||||
Media0.4% | |||||
29,919 | DISH Network Corp. (a) | 331,503 | |||
Metals & Mining0.3% | |||||
9,750 | Freeport-McMoRan Copper & Gold, Inc. | 233,903 | |||
Oil & Gas 1.9% | |||||
11,600 | National Oilwell Varco, Inc. (a) | 328,164 | |||
5,500 | Occidental Petroleum Corp. | 297,770 | |||
11,800 | Schlumberger Ltd. | 598,732 | |||
18,800 | Valero Energy Corp. | 344,980 | |||
1,569,646 | |||||
Pharmaceuticals 5.1% | |||||
16,000 | Abbott Laboratories | 838,240 | |||
22,800 | Gilead Sciences Inc. (a) | 1,021,212 | |||
43,300 | Bristol-Myers Squibb Co. | 896,310 | |||
23,600 | Medco Health Solutions, Inc. (a) | 991,200 | |||
21,200 | Merck & Co., Inc. | 566,464 | |||
4,313,426 | |||||
Retail 1.8% | |||||
15,000 | McDonalds Corp. | 881,250 | |||
19,500 | Target Corp. | 658,320 | |||
1,539,570 | |||||
Semi-conductors & Semi-conductor Equipment 1.4% | |||||
48,000 | Intel Corp. | 662,400 | |||
33,900 | Texas Instruments, Inc. | 527,823 | |||
1,190,223 | |||||
Software 1.9% | |||||
35,700 | Microsoft Corp. | 721,854 | |||
55,200 | Oracle Corp. (a) | 888,168 | |||
1,610,022 |
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Shares | Value* | |||||
United States (continued) | ||||||
Telecommunications4.4% | ||||||
44,800 | Cisco Systems, Inc. (a) | $740,992 | ||||
5,984 | EchoStar Corp. (a) | 102,147 | ||||
21,200 | Harris Corp. | 739,456 | ||||
34,200 | Juniper Networks, Inc. (a) | 594,398 | ||||
17,000 | Qualcomm, Inc. | 570,690 | ||||
28,200 | Verizon Communications, Inc. | 920,730 | ||||
3,668,413 | ||||||
Total Common Stock (cost$116,368,159) | 54,033,302 | |||||
CONVERTIBLE PREFERRED STOCK22.7% | ||||||
Principal | ||||||
Amount | Credit Rating | |||||
(000) | (Moody's/S&P ) | |||||
Agriculture 0.6% | ||||||
$10 | Bunge Ltd., 4.875%, 12/31/49 | Ba1/BB | 537,500 | |||
Automotive 0.3% | ||||||
60 | General Motors Corp., 6.25%, 7/15/33, Ser. C | Caa3/CCC+ | 246,000 | |||
Banking 3.3% | ||||||
Bank of America Corp., | ||||||
5 | 7.25%, 12/31/49, Ser. L | A1/A | 290,463 | |||
19 | 10.00%, 5/11/09, Ser. JNJ (Johnson & Johnson) (c) | Aa2/AA | 1,109,051 | |||
Wachovia Corp., | ||||||
35 | 13.15%, 3/30/09, Ser. GE (General Electric Co.) (c) | A1/AA- | 580,602 | |||
27 | 14.10%, 4/1/09, Ser. JPM (JP Morgan Chase & Co.) (c) | A1/AA- | 810,414 | |||
2,790,530 | ||||||
Commercial Services 0.5% | ||||||
29 | United Rentals, Inc., 6.50%, 8/1/28 | B3/B- | 407,813 | |||
Electric 3.4% | ||||||
30 | AES Trust III, 6.75%, 10/15/29 | B3/B- | 1,029,300 | |||
21 | Entergy Corp., 7.625%, 2/17/09 | NR/BBB | 1,050,000 | |||
4 | NRG Energy, Inc., 5.75%, 3/16/09 | B2/CCC+ | 793,125 | |||
2,872,425 | ||||||
Financial Services 7.0% | ||||||
10 | Citigroup Inc., 6.50%, 12/31/49, Ser. T | A2/A | 264,710 | |||
Credit Suisse Group, | ||||||
48 | 11.00%, 3/16/09, Ser. MSFT (Microsoft Corp.) (c) | Aa1/AA- | 1,030,409 | |||
20 | 11.00%, 4/25/09, Ser. KO (Coca-Cola Corp.) (c) | Aa1/AA- | 1,003,183 | |||
Eksportfinans AS, | ||||||
28 | 10.00%, 3/12/09, Ser. HPQ (Hewlett Packard Co.) (c) | Aaa/AA+ | 1,061,811 | |||
8 | 10.00%, 6/13/09, Ser. AAPL (Apple, Inc.) (c) | Aaa/AA+ | 1,096,332 | |||
Goldman Sachs Group, Inc., | ||||||
57 | 9.75%, 12/19/08, Ser. CSCO (Cisco Systems, Inc.) (c) | Aa3/NR | 1,108,484 | |||
Lehman Brothers Holdings, Inc., | ||||||
42 | 6.00%, 10/12/10, Ser. GIS (General Mills, Inc.) (c) (f) (g) | B3/NR | 135,833 | |||
9 | 28.00%, 3/6/09, Ser. RIG (Transocean, Inc.) (c) (f) (g) | B3/NR | 126,771 | |||
5,827,533 | ||||||
Hand/Machine Tools 1.0% | ||||||
1 | Stanley Works, 5.125%, 5/17/12, VRN | A2/A | 826,350 | |||
Insurance 1.8% | ||||||
40 | Metlife, Inc., 6.375%, 2/15/09 | NR/BBB+ | 314,000 | |||
42 | Platinum Underwriters Holdings Ltd., 6.00%, 2/15/09, Ser. A | NR/BB+ | 1,097,935 | |||
50 | XL Capital Ltd., 7.00%, 2/15/09 | Baa1/A- | 102,000 | |||
1,513,935 | ||||||
Investment Companies 0.5% | ||||||
17 | Vale Capital Ltd., 5.50%, 6/15/10, Ser. RIO (Companhia Vale do Rio Doce) (c) | NR/NR | 417,725 |
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Principal | ||||||
Amount | Credit Rating | |||||
(000) | (Moody's/S&P) | Value* | ||||
Oil & Gas 0.5% | ||||||
$7 | Chesapeake Energy Corp., 5.00%, 12/31/49 | NR/B | $440,190 | |||
Pharmaceuticals 0.9% | ||||||
5 | Schering-Plough Corp., 6.00%, 8/13/10 | Baa3/BBB | 735,953 | |||
Real Estate (REIT) 0.4% | ||||||
60 | FelCor Lodging Trust, Inc., 1.95%, 12/31/49, Ser. A | B2/CCC+ | 315,000 | |||
Sovereign 1.6% | ||||||
Svensk Exportkredit AB, | ||||||
19 | 12.50%, 12/12/08, Ser. XOM (Exxon Mobil Corp.) (c) | Aa1/AA+ | 1,330,182 | |||
Telecommunications 0.9% | ||||||
23 | Crown Castle International Corp., 6.25%, 8/15/12 | NR/NR | 762,125 | |||
Total Convertible Preferred Stock (cost-$36,237,439) | 19,023,261 | |||||
CONVERTIBLE BONDS & NOTES9.9% | ||||||
Automotive 0.4% | ||||||
1,200 | Ford Motor Co., 4.25%, 12/15/36 | Caa2/CCC- | 375,000 | |||
Commercial Services0.7% | ||||||
650 | Bowne & Co., Inc., 5.00%, 10/1/33 | B2/B | 619,125 | |||
Computers 1.5% | ||||||
1,400 | Maxtor Corp., 6.80%, 4/30/10 | Ba1/NR | 1,223,251 | |||
Electric 1.3% | ||||||
425 | PG&E Corp., 9.50%, 6/30/10 | NR/NR | 1,090,656 | |||
Electrical Component & Equipment0.3% | ||||||
785 | JA Solar Holdings Co., Ltd., 4.50%, 5/15/13 | NR/NR | 221,370 | |||
Insurance 0.7% | ||||||
690 | Prudential Financial, Inc., 1.189%, 12/15/37, FRN | NR/NR | 610,512 | |||
Oil & Gas 0.9% | ||||||
1,010 | Transocean, Inc., 1.50%, 12/15/37 | Baa2/BBB+ | 762,550 | |||
Pharmaceuticals 0.4% | ||||||
325 | Watson Pharmaceuticals, Inc., 1.75%, 3/15/23 | Ba2/BB+ | 291,281 | |||
Real Estate (REIT) 0.8% | ||||||
960 | Vornado Realty Trust, 3.625%, 11/15/26 | Baa2/BBB | 667,200 | |||
Telecommunications 2.9% | ||||||
1,550 | Level 3 Communications, Inc., 6.00%, 3/15/10 | Caa3/C | 1,085,000 | |||
900 | Nextel Communications, Inc., 5.25%, 1/15/10 | Baa3/BB | 753,750 | |||
800 | NII Holdings, Inc., 3.125%, 6/15/12 | NR/NR | 447,000 | |||
810 | Nortel Networks Corp., 2.125%, 4/15/14 | B3/B- | 137,700 | |||
2,423,450 | ||||||
Total Convertible Bonds & Notes (cost-$11,875,265) | 8,284,395 | |||||
CORPORATE BONDS & NOTES0.1% | ||||||
Financial Services0.1% | ||||||
1,040 | Residential Capital LLC, 9.625%, 5/15/15 (d) (e) | C/C | 111,800 | |||
(cost-$878,091) | ||||||
RIGHTS0.0% | ||||||
Shares | Banking 0.0% | |||||
3,121 | Standard Chartered PLC, expires 12/17/08 (a) | 19,635 | ||||
4,200 | Swedbank, expires 12/11/08 (a) | 5,056 | ||||
(cost-$0) | 24,691 | |||||
SHORT-TERM INVESTMENT 2.1% | ||||||
Time Deposit 2.1% | ||||||
1,748 | Citibank London, 0.25%, 12/1/08 | 1,748,125 | ||||
(cost-$1,748,125) | ||||||
Total Investments, before call options written (cost $167,107,079) 99.3% | 83,225,574 |
Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments |
November 30, 2008 (unaudited) |
Contracts | Value* | |||
CALL OPTIONS WRITTEN (a) (0.9)% | ||||
221 | DAX Index, OTC, strike price 4,781, expires 12/19/08 | $(48,381 | ) | |
1,913 | Dow Jones Stoxx 50 Price Index, OTC, strike price 2,525, expires 12/19/08 | (174,416 | ) | |
678 | FTSE 100 Index, OTC, strike price GBP 4,413, expires 12/19/08 | (131,660 | ) | |
45,421 | NIKKEI 225 Index, OTC, strike price ¥ 10,126, expires 12/12/08 | (20,147 | ) | |
12,446 | OMX Stockholm 30 Index, OTC, strike price SEK 663, expires 12/19/08 | (39,167 | ) | |
790 | S&P 200 Index, OTC, strike price AUD 3,763, expires 12/18/08 | (41,058 | ) | |
23,800 | S&P 500 Index, OTC, strike price $966, expires 12/19/08 | (318,282 | ) | |
180 | Swiss Market Index, OTC, strike price CHF 6,019, expires 12/19/08 | (12,848 | ) | |
Total Call Options Written (premiums received$520,778) | (785,959 | ) | ||
Total Investments, net of call options written (cost $166,586,301)(h) 98.4% | 82,439,615 | |||
Other assets less other liabilities1.6% | 1,373,206 | |||
Net Assets100.0% | $83,812,821 | |||
Notes to Schedule of Investments:
*Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Market value is generally determined on the basis of last reported sales prices, or if no sales are reported, based on quotes obtained from a quotation reporting system, established market makers, or pricing services.
Portfolio securities and other financial instruments for which market quotations are not readily available or if a development/event occurs that may significantly impact the value of a security, are fair-valued, in good faith, pursuant to procedures established by the Board of Trustees, or persons acting at their discretion pursuant to procedures established by the Board of Trustees. The Funds investments, including over-the-counter options, are valued daily using prices supplied by an independent pricing service or dealer quotations, or by using the last sale price on the exchange that is the primary market for such securities, or the last quoted mean 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. Prices obtained from independent pricing services use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Exchange traded options are valued at the settlement price determined by the relevant exchange. Short-term securities 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. Investments initially valued in currencies other than the U.S. dollar are converted to the U.S. dollar using exchange rates of the respective currency at the spot rate at 11 a.m. Eastern Time against the US dollar, as provided by an approved pricing service. As a result, the net asset value (NAV) of the Funds shares may be affected by the changes in the value of currencies in relation to the U.S. dollar. The value of securities traded in markets outside the United States or denominated in currencies other than the U.S. dollar may be affected significantly on a day that the New York Stock Exchange (NYSE) is closed and the NAV may change on days when an investor is not able to purchase or sell shares. The prices used by the Fund to value securities may differ from the value that would be realized if the securities were sold and the differences could be material. The Funds NAV is normally determined as of close of regular trading (normally 4:00 p.m. Eastern time) on the NYSE on each day the NYSE is open for business.
The prices of certain portfolio securities or other financial instruments may be determined at a time prior to the close of regular trading on the NYSE. When fair valuing securities, the Fund may, among other things, consider significant events (which may be considered to include changes in the value of U.S. securities or securities indices) that occur after the close of the relevant market and before the time the Funds NAV is calculated. With respect to certain foreign securities, the Fund may fair value securities using modeling tools provided by a third-party vendor. The Fund has retained a statistical research service to assist in determining the fair value of foreign securities. This service utilizes statistics and programs based on historical performance of markets and other economic data to assist in making fair value estimates. Fair value estimates used by the Fund for foreign securities may differ from the value realized from the sale of those securities. Fair value pricing may require subjective determinations about the value of a security or other assets, and fair values used to determine the Funds NAV may differ from quoted or published prices, or from prices that are used by others, for the same investments. In addition, the use of fair value pricing may not always result in adjustments to the prices of securities or other assets held by the Fund.
(a) | Non-income producing. |
|
|
(b) | All or partial amount segregated as collateral for call options written. |
|
|
(c) | Securities exchangeable or convertible into securities of an entity different than the issuer. Such entity is identified in the parenthetical. |
|
|
(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) |
Private Placement. Restricted as to resale and may
not have a readily available market.
Securities with an aggregate value of $111,800, representing 0.13% of net assets. |
|
|
(f) | Fair valued. Securities with an aggregate value of $262,604, representing 0.31% of net assets. |
|
|
(g) | Issuer in default. |
|
|
(h) | Securities with an aggregate value of $23,998,650, representing 28.6% of net assets, have been valued utilizing modeling tools provided by a third party vendor, as described in the footnote above. |
Glossary:
Euro
¥
Japanese Yen
AUD
Australian Dollar
CHF
Swiss Franc
GBP
Great British Pound
NR
Not Rated
OTC
Over-the-Counter
REIT
Real Estate Investment Trust
SEK
Swedish Krona
VRN
Variable Rate Note. Instruments whose interest rate change on specified date (such as a coupon date or interest payment date) and/or whose interest
rates vary with changes in a designated base rate (such as the prime interest rate). The interest rate disclosed reflects the rate in effect on November 30, 2008.
Other Investments:
Transactions in call options written for the three months ended November 30, 2008:
Contracts | Premiums | |||||||
Options outstanding, August 31, 2008 | 89,753 | $ 786,666 | ||||||
Options written | 238,384 | 1,983,833 | ||||||
Options terminated in closing purchase transactions | (141,824 | ) | (1,054,724 | ) | ||||
Options expired | (100,864 | ) | (1,194,997 | ) | ||||
Options outstanding, November 30, 2008 | 85,449 | $ 520,778 |
Fair Value Measurement Effective September 1, 2008 the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements ("FAS 157"). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of the fair value measurements. The three levels of the fair value hierarchy under FAS 157 are described below:
Level 1 quoted prices in active
markets for identical investments
Level 2 other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc. ) Level 3 significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) |
The valuation techniques used by the Fund to measure fair value during the three months ended November 30, 2008 maximized the use of observable inputs and minimized the use of unobservable inputs. The Fund utilized the following fair valuation techniques: multi-dimensional relational pricing model and estimating the price that would have prevailed in a liquid market for an international equity given information available at the time of evaluation.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used as of November 30, 2008 in valuing the Fund's investments carried at value:
Investments | ||
Valuation Inputs | in Securities | |
Level 1 Quoted Prices | $40,934,394 | |
Level 2 Other Significant Observable Inputs | 41,242,617 | |
Level 3 Significant Unobservable Inputs | 262,604 | |
Total | $82,439,615 |
A roll forward of fair value measurement using significant unobservable inputs (Level 3) as of November 30, 2008, were as follows:
Investments | ||
in Securities | ||
Beginning balance, 8/31/08 | $ - | |
Net purchases (sales) and settlements | - | |
Accrued discounts (premiums) | - | |
Total realized and unrealized gain (loss) | - | |
Transfers in and/or out of Level 3 | 262,604 | |
Ending balance, 11/30/08 | $ 262,604 |
Item 2. Controls and Procedures
(a) |
The registrants President & Chief Executive Officer and Treasurer, Principal Financial & Accounting Officer have concluded that the registrants disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Act (17 CFR 270.30a-3(c))), 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 registrants internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d))) that occurred during the registrants last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting. |
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: Nicholas-Applegate Global Equity & Convertible Income Fund
By | /s/ Brian S. Shlissel |
President & Chief Executive Officer | |
Date: January 26, 2009 | |
By | /s/ Lawrence G. Altadonna |
Treasurer, Principal Financial & Accounting Officer | |
Date: January 26, 2009 |
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 dates indicated.
By | /s/ Brian S. Shlissel |
President & Chief Executive Officer | |
Date: January 26, 2009 | |
By | /s/ Lawrence G. Altadonna |
Treasurer, Principal Financial & Accounting Officer | |
Date: January 26, 2009 |
1 Year Allianzgi Global Equity & Convertible Income Fund Chart |
1 Month Allianzgi Global Equity & Convertible Income Fund Chart |
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