PORTFOLIO HOLDINGS FOR ALLIANZGI EQUITY & CONVERTIBLE INCOME FUND (As of Jun 30, 2016)

Transcription

1 PORTFOLIO HOLDINGS FOR ALLIANZGI EQUITY & CONVERTIBLE INCOME FUND (As of Jun 30, 2016) The Fund is a closed-end exchange traded management investment company. This material is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Investment policies, management fees and other matters of interest to prospective investors may be found in each closed-end fund prospectus used in its initial public offering, as revised by subsequent shareholder reports. Holdings are subject to change daily. Allianz Global Investors Fund Management LLC, is an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P. Allianz Global Investors Fund Management LLC serves as the Fund's investment manager, and the sub-adviser is Allianz Global Investors US LLC. This update is produced by Allianz Global Investors Distributors LLC. AGI A Word About Risk: Past performance is no guarantee of future results. Holdings are subject to change daily. Holdings are subject to market risk, the risk that the price of a security may decline due to general market conditions which are not specifically related to a particular company. Investing in convertibles may entail risk. Funds that invest in convertibles may have to convert before they would otherwise, which may have an adverse effect on the Fund s ability to achieve its investment objective. High-yield convertibles and other high yield fixed-income securities typically have a lower credit rating than other securities and generally involve a greater risk to principal than higher rated securities. Rising interest rates may negatively impact convertibles and other fixed-income securities. The impact may be greater with longer-duration bonds. The market for certain securities may become illiquid, which could prevent the Fund from purchasing or selling these securities at an advantageous time or price and possibly delay redemptions of Fund shares. The use of leverage may cause a Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. This may cause a Fund to be more volatile, which may increase the risk of investment loss. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk (the risk that illiquid securities may not be able to be sold at an advantageous time or price), interest rate risk (the risk that the value of fixed-income securities will decline if interest rates rise), market risk (the risk that the market price of securities may go up or down, sometimes rapidly or unpredictably), credit risk (the risk that the counterparty to a derivatives contract, repurchase agreement or a loan of portfolio securities, may be unable or unwilling to make timely principal and/or interest payments, or to otherwise honor its obligations), management risk (the risk that investment management decisions may not produce the desired results) and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments. The fund may invest in non-u.s. securities which entails additional risks, including political and economic risk and the risk of currency fluctuations; these risks may be enhanced in emerging markets. On January 24, 2014 AllianzGI Global Equity & Convertible Income Fund merged into AllianzGI Equity & Convertible Income Fund. Description Coupon Maturity Quality Number of Shares Price Market Value APPLE INC 160, ,389, AMAZON.COM INC 14, ,591, MICROSOFT CORP 198, ,157, ALPHABET INC-CL A 14, ,063, INTEL CORP 301, ,879, FACEBOOK INC-A 85, ,816, COSTCO WHOLESALE CORP 61, ,610, ORACLE CORP 230, ,413,

2 EMC CORP/MA 341, ,278, STARBUCKS CORP 161, ,247, HOME DEPOT INC 71, ,065, MCKESSON CORP 46, ,660, WALT DISNEY CO/THE 88, ,627, VISA INC-CLASS A SHARES 116, ,625, ABBVIE INC 138, ,549, US DOLLARS 8,368, ,368, TARGET CORP 118, ,238, TEXAS INSTRUMENTS INC 130, ,194, AGCO CORP 170, ,021, AMGEN INC 52, ,018, BRISTOL-MYERS SQUIBB CO 108, ,980, COMCAST CORP-CLASS A 121, ,940, VERIZON COMMUNICATIONS INC 140, ,839, PEPSICO INC 72, ,627, GILEAD SCIENCES INC 91, ,591, COCA-COLA CO/THE 164, ,447, GENERAL ELECTRIC CO 226, ,117, JOHNSON CONTROLS INC 159, ,072, MCDONALD'S CORP 58, ,088, PROCTER & GAMBLE CO/THE 83, ,027, FORD MOTOR CO 547, ,879, QUALCOMM INC 128, ,862, KROGER CO 182, ,710, AMPHENOL CORP-CL A 115, ,615, M CO 37, ,496, WELLS FARGO & COMPANY /PFD/CV 5, , ,496, INTL BUSINESS MACHINES CORP 42, ,435, OCCIDENTAL PETROLEUM CORP 83, ,301, UNITEDHEALTH GROUP INC 44, ,269, WALGREENS BOOTS ALLIANCE INC 74, ,170, BOEING CO/THE 46, ,064, MONSANTO CO 56, ,832, BANK OF AMERICA CORP PREFERRED 4, , ,765, SCHLUMBERGER LTD 72, ,693, PRUDENTIAL FINANCIAL INC 79, ,671, EXELON CORP PFD 105, ,180, LAM RESEARCH CORP 61, ,177, WELLTOWER INC /PREFERRED/ 75, ,085, LABORATORY CRP OF AMER HLDGS 38, ,999,

3 HCA HOLDINGS INC 62, ,834, WELLS FARGO & CO 101, ,780, BAKER HUGHES INC 103, ,660, ALLERGAN PLC 5.5% CONV /PFD/ 5, ,597, BUNGE LTD PREFERRED 48, ,550, ALEXANDRIA REAL ESTATE E REITS 131, ,477, UNION PACIFIC CORP 51, ,475, GENERAL MOTORS CO 154, ,370, CORNING INC 208, ,277, DEERE AND CO 52, ,287, HUNTINGTON BANCSHARES /PFD/ 3, , ,300, MACY'S INC 126, ,251, BAXTER INTERNATIONAL INC 93, ,219, AMERICAN TOWER CORP CONV /PFD/ 36, ,114, FRONTIER COMMUNICATIONS /PFD/ 42, ,068, UNITED TECHNOLOGIES CORP 39, ,011, ANTHEM INC /PREFERRED/ 85, ,832, VALERO ENERGY CORP 72, ,692, EXELON CORP 97, ,533, MICROCHIP TECH 1.625% 02/15/ /15/2025 3,070, ,413, BGC PARTNERS INC 4.5% 07/15/ /15/2016 3,370, ,382, INTEL CORP 3.25% 08/01/ A2 2,000, ,255, MICRON TECHNOLOGY 3% 11/15/ /15/2043 4,165, ,201, POST HOLDINGS INC PFD 19, ,108, T-MOBILE USA INC /PFD/ 42, ,109, AES TR 6.75% 10/15/29 PFD CV 58, ,053, ARCELORMITTAL-NY REGISTERED 636, ,966, PRA GROUP INC 3% 08/01/ ,625, ,843, RESTORATION HARDW ZCP 06/15/19 06/15/2019 3,495, ,844, DYCOM INDUSTRIE 0.75% 09/15/ /15/2021 Ba3 2,315, ,647, WRIGHT MEDICAL 2.25% 11/15/ /15/2021 2,500, ,584, EXTRA SPACE ST 3.125% 10/01/ ,225, ,543, FELCOR LODGING A CV PFD $ , ,491, STERICYCLE INC 5.25% PRF 29, ,486, TEVA PHARMACEUTICAL CONV /PFD/ 2, ,473, SUNPOWER CORP 0.875% 06/01/ ,000, ,439, WEB.COM GROUP INC 1% 08/15/ /15/2018 2,650, ,449, BIOGEN INC 9, ,345, ON SEMICONDUCTOR C 1% 12/01/ ,620, ,354, TRULIA INC 2.75% 12/15/ /15/2020 1,500, ,330, KINDER MORGAN INC SER A /PFD/ 46, ,289,

4 CHENIERE ENERGY 4.25% 03/15/ /15/2045 4,000, ,280, FIREEYE INC 1% 06/01/ ,500, ,279, TWITTER INC 132, ,232, HERBALIFE LTD 2% 08/15/ /15/2019 2,270, ,250, ALIBABA GROUP HOLDING-SP ADR 26, ,131, INPHI CORP 1.125% 12/01/ ,000, ,123, NRG YIELD INC 3.25% 06/01/ ,265, ,095, FIAT CHRYSLER 7.875% 12/15/16 30, ,857, SUNPOWER CORP 4% 01/15/ /15/2023 2,135, ,889, VECTOR GROUP LTD V/R 04/15/ /15/2020 1,700, ,893, NATIONAL OILWELL VARCO INC 53, ,803, SOLARCITY CORP 1.625% 11/01/ ,700, ,793, WPX ENERGY INC SERIES A /PFD/ 35, ,634, APACHE CORP 29, ,623, HOLOGIC INC S/UP 03/01/ ,200, ,542, LINKEDIN CORP 0.5% 11/01/ ,500, ,487, TEVA PHARM FIN 0.25% 02/01/ Baa1 1,115, ,402, JOY GLOBAL INC 64, ,359, HORIZON PHARMA I 2.5% 03/15/ /15/2022 1,500, ,366, QIHOO 360 TECH C 2.5% 09/15/ /15/2018 1,400, ,395, SOUTHWESTERN ENERGY CO/PFD 39, ,200, WALTER INVESTMEN 4.5% 11/01/ ,000, ,200, MERITOR INC 7.875% 03/01/ ,000, ,127, NVIDIA CORP 1% 12/01/ , ,167, CYPRESS SEMICOND 4.5% 01/15/ /15/2022 1,000, ,073, TYSON FOODS INC PFD 13, ,019, JAZZ INVESTMEN 1.875% 08/15/ /15/ , , CHESAPEAKE ENERGY CORP PFD 34, , GOGO INC 3.75% 03/01/ ,300, , FLUOR CORP 15, , BIOMARIN PHARMA 0.75% 10/15/ /15/ , , COBALT INTL EN 2.625% 12/01/ ,750, , MANDATORY EXCH TRUST /PRF/ 5, , COBALT INTL EN 3.125% 05/15/ /15/2024 1,550, , TESLA MOTORS IN 0.25% 03/01/ , , FREEPORT-MCMORAN INC 23, , DIAMOND OFFSHORE DRILLING 9, , MGIC INVESTMENT CO 5% 05/01/ , , SUNEDISON INC 2.625% 06/01/23 4,000, , RTI INTERNATIO 1.625% 10/15/ /15/ , , FERRARI NV 2, ,

5 GENERAL MOTORS EX 7/10/16 5, , GENERAL MOTORS EX 7/10/19 5, , SUNEDISON INC 3.375% 06/01/25 1,000, , ATP OIL & GAS CV PREFERRED 25, C/O GENERAL ELECTR AUG /19/2016 ( ) (12,500.00) 0.00 C/O ABBVIE INC AUG /19/2016 ( ) (26,850.00) 0.00 C/O BAXTER INTL IN AUG /19/2016 ( ) (27,625.00) 0.00 C/O VISA INC JUL /15/2016 ( ) (2,320.00) 0.00 C/O UNITEDHEALTH G JUL /15/2016 ( ) (14,175.00) 0.00 C/O ALPHABET INC AUG /19/2016 (75.000) (26,250.00) 0.00 C/O BRISTOL-MYERS JUL /15/2016 ( ) (23,760.00) 0.00 C/O VERIZON COMM AUG /19/2016 ( ) (25,027.50) 0.00 C/O 3M CO JUL /15/2016 ( ) (14,800.00) 0.00 C/O HOME DEPOT INC AUG /19/2016 ( ) (6,800.00) 0.00 C/O TEXAS INSTRUME JUL /15/2016 ( ) (10,990.00) 0.00 C/O FACEBOOK INC JUL /15/2016 ( ) (5,407.50) 0.00 C/O AMAZON COM INC JUL /15/2016 (85.000) (9,647.50) 0.00 C/O COSTCO WHSL CO AUG /19/2016 ( ) (25,620.00) 0.00 C/O LABORATORY COR NOV /18/2016 ( ) (39,087.50) C/O PEPSICO INC JUL /15/2016 ( ) (47,340.00) C/O COMCAST CORP N JUL /15/2016 ( ) (47,885.00) C/O AMPHENOL CORP AUG /19/2016 ( ) (43,125.00) C/O COCA-COLA COMP AUG /19/2016 (1, ) (39,675.00) -0.01

6 PORTFOLIO HOLDINGS FOR ALLIANZGI EQUITY & CONVERTIBLE INCOME FUND (As of May 31, 2016) The Fund is a closed-end exchange traded management investment company. This material is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Investment policies, management fees and other matters of interest to prospective investors may be found in each closed-end fund prospectus used in its initial public offering, as revised by subsequent shareholder reports. Holdings are subject to change daily. Allianz Global Investors Fund Management LLC, is an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P. Allianz Global Investors Fund Management LLC serves as the Fund's investment manager, and the sub-adviser is Allianz Global Investors US LLC. This update is produced by Allianz Global Investors Distributors LLC. AGI A Word About Risk: Past performance is no guarantee of future results. Holdings are subject to change daily. Holdings are subject to market risk, the risk that the price of a security may decline due to general market conditions which are not specifically related to a particular company. Investing in convertibles may entail risk. Funds that invest in convertibles may have to convert before they would otherwise, which may have an adverse effect on the Fund s ability to achieve its investment objective. High-yield convertibles and other high yield fixed-income securities typically have a lower credit rating than other securities and generally involve a greater risk to principal than higher rated securities. Rising interest rates may negatively impact convertibles and other fixed-income securities. The impact may be greater with longer-duration bonds. The market for certain securities may become illiquid, which could prevent the Fund from purchasing or selling these securities at an advantageous time or price and possibly delay redemptions of Fund shares. The use of leverage may cause a Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. This may cause a Fund to be more volatile, which may increase the risk of investment loss. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk (the risk that illiquid securities may not be able to be sold at an advantageous time or price), interest rate risk (the risk that the value of fixed-income securities will decline if interest rates rise), market risk (the risk that the market price of securities may go up or down, sometimes rapidly or unpredictably), credit risk (the risk that the counterparty to a derivatives contract, repurchase agreement or a loan of portfolio securities, may be unable or unwilling to make timely principal and/or interest payments, or to otherwise honor its obligations), management risk (the risk that investment management decisions may not produce the desired results) and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments. The fund may invest in non-u.s. securities which entails additional risks, including political and economic risk and the risk of currency fluctuations; these risks may be enhanced in emerging markets. On January 24, 2014 AllianzGI Global Equity & Convertible Income Fund merged into AllianzGI Equity & Convertible Income Fund. Description Coupon Maturity Quality Number of Shares Price Market Value APPLE INC 160, ,075, ALPHABET INC-CL A 14, ,712, AMAZON.COM INC 14, ,697, MICROSOFT CORP 198, ,520, FACEBOOK INC-A 85, ,205, EMC CORP/MA 341, ,544, INTEL CORP 301, ,514, HOME DEPOT INC 71, ,380,

7 ORACLE CORP 230, ,246, TEXAS INSTRUMENTS INC 151, ,168, VISA INC-CLASS A SHARES 116, ,180, COSTCO WHOLESALE CORP 61, ,104, AGCO CORP 170, ,838, STARBUCKS CORP 161, ,886, WALT DISNEY CO/THE 88, ,751, ABBVIE INC 138, ,690, MCKESSON CORP 46, ,497, AMGEN INC 52, ,323, TARGET CORP 118, ,116, GILEAD SCIENCES INC 91, ,922, BRISTOL-MYERS SQUIBB CO 108, ,779, COMCAST CORP-CLASS A 121, ,709, US DOLLARS 7,546, ,546, FORD MOTOR CO 547, ,383, COCA-COLA CO/THE 164, ,327, PEPSICO INC 72, ,284, MCDONALD'S CORP 58, ,189, VERIZON COMMUNICATIONS INC 140, ,146, JOHNSON CONTROLS INC 159, ,055, QUALCOMM INC 128, ,035, GENERAL ELECTRIC CO 226, ,834, AMPHENOL CORP-CL A 115, ,776, PROCTER & GAMBLE CO/THE 83, ,726, INTL BUSINESS MACHINES CORP 42, ,518, KROGER CO 182, ,522, MONSANTO CO 56, ,343, OCCIDENTAL PETROLEUM CORP 83, ,291, PRUDENTIAL FINANCIAL INC 79, ,300, M CO 37, ,244, UNITEDHEALTH GROUP INC 46, ,202, WELLS FARGO & COMPANY /PFD/CV 5, , ,146, BOEING CO/THE 46, ,891, WALGREENS BOOTS ALLIANCE INC 74, ,735, BANK OF AMERICA CORP PREFERRED 4, , ,575, SCHLUMBERGER LTD 72, ,493, WEYERHAEUSER CO SERIES A /PFD/ 103, ,251, LAM RESEARCH CORP 61, ,100, WELLS FARGO & CO 101, ,122, EXELON CORP PFD 105, ,958,

8 HCA HOLDINGS INC 62, ,898, LABORATORY CRP OF AMER HLDGS 38, ,910, BAKER HUGHES INC 103, ,789, GENERAL MOTORS CO 154, ,830, BUNGE LTD PREFERRED 48, ,700, WELLTOWER INC /PREFERRED/ 75, ,698, ALLERGAN PLC 5.5% CONV /PFD/ 5, ,658, CORNING INC 208, ,362, DEERE AND CO 52, ,353, UNION PACIFIC CORP 51, ,318, ALEXANDRIA REAL ESTATE E REITS 131, ,296, HUNTINGTON BANCSHARES /PFD/ 3, , ,266, FRONTIER COMMUNICATIONS /PFD/ 42, ,222, MACY'S INC 126, ,200, BAXTER INTERNATIONAL INC 93, ,026, UNITED TECHNOLOGIES CORP 39, ,934, VALERO ENERGY CORP 72, ,960, AMERICAN TOWER CORP CONV /PFD/ 36, ,869, ANTHEM INC /PREFERRED/ 85, ,816, BGC PARTNERS INC 4.5% 07/15/ /15/2016 3,370, ,403, MICROCHIP TECH 1.625% 02/15/ /15/2025 3,070, ,428, EXELON CORP 97, ,330, INTEL CORP 3.25% 08/01/ A2 2,000, ,163, ARCELORMITTAL-NY REGISTERED 636, ,093, T-MOBILE USA INC /PFD/ 42, ,063, MICRON TECHNOLOGY 3% 11/15/ /15/2043 4,165, ,050, AES TR 6.75% 10/15/29 PFD CV 58, ,017, DYCOM INDUSTRIE 0.75% 09/15/ /15/2021 Ba3 2,600, ,929, POST HOLDINGS INC PFD 19, ,878, PRA GROUP INC 3% 08/01/ ,625, ,893, BIOGEN INC 9, ,810, WRIGHT MEDICAL 2.25% 11/15/ /15/2021 2,500, ,773, RESTORATION HARDW ZCP 06/15/19 06/15/2019 3,495, ,767, TYSON FOODS INC PFD 38, ,728, EXTRA SPACE ST 3.125% 10/01/ ,225, ,564, FELCOR LODGING A CV PFD $ , ,491, TEVA PHARMACEUTICAL CONV /PFD/ 2, ,519, WEB.COM GROUP INC 1% 08/15/ /15/2018 2,650, ,454, STERICYCLE INC 5.25% PRF 29, ,368, ON SEMICONDUCTOR C 1% 12/01/ ,620, ,403, CHENIERE ENERGY 4.25% 03/15/ /15/2045 4,000, ,282,

9 SUNPOWER CORP 0.875% 06/01/ ,000, ,246, ALIBABA GROUP HOLDING-SP ADR 26, ,197, HERBALIFE LTD 2% 08/15/ /15/2019 2,270, ,220, FIREEYE INC 1% 06/01/ ,500, ,181, KINDER MORGAN INC SER A /PFD/ 46, ,142, INPHI CORP 1.125% 12/01/ ,000, ,130, FIAT CHRYSLER 7.875% 12/15/16 30, ,067, NRG YIELD INC 3.25% 06/01/ ,265, ,085, TWITTER INC 132, ,009, SUNPOWER CORP 4% 01/15/ /15/2023 2,135, ,948, TRULIA INC 2.75% 12/15/ /15/2020 1,500, ,961, VECTOR GROUP LTD V/R 04/15/ /15/2020 1,700, ,845, WPX ENERGY INC SERIES A /PFD/ 35, ,788, NATIONAL OILWELL VARCO INC 53, ,766, APACHE CORP 29, ,665, HOLOGIC INC S/UP 03/01/ ,200, ,546, SOLARCITY CORP 1.625% 11/01/ ,700, ,520, WALTER INVESTMEN 4.5% 11/01/ ,000, ,488, TEVA PHARM FIN 0.25% 02/01/ Baa1 1,115, ,445, HORIZON PHARMA I 2.5% 03/15/ /15/2022 1,500, ,378, QIHOO 360 TECH C 2.5% 09/15/ /15/2018 1,400, ,403, LINKEDIN CORP 0.5% 11/01/ ,500, ,409, DEPOMED INC 2.5% 09/01/ ,000, ,245, MERITOR INC 7.875% 03/01/ ,000, ,211, CIENA CORP 3.75% 10/15/ /15/2018 1,000, ,148, NVIDIA CORP 1% 12/01/ , ,164, JOY GLOBAL INC 64, ,095, GOGO INC 3.75% 03/01/ ,300, ,039, JAZZ INVESTMEN 1.875% 08/15/ /15/ , ,010, SOUTHWESTERN ENERGY CO/PFD 28, , CHESAPEAKE ENERGY CORP PFD 34, , FLUOR CORP 15, , BIOMARIN PHARMA 0.75% 10/15/ /15/ , , COBALT INTL EN 2.625% 12/01/ ,750, , COBALT INTL EN 3.125% 05/15/ /15/2024 1,550, , TESLA MOTORS IN 0.25% 03/01/ , , FERRARI NV 5, , DIAMOND OFFSHORE DRILLING 9, , FREEPORT-MCMORAN INC 23, , MGIC INVESTMENT CO 5% 05/01/ , , SUNEDISON INC 2.625% 06/01/23 4,000, ,

10 RTI INTERNATIO 1.625% 10/15/ /15/ , , GENERAL MOTORS EX 7/10/16 5, , GENERAL MOTORS EX 7/10/19 5, , SUNEDISON INC 3.375% 06/01/25 1,000, , ATP OIL & GAS CV PREFERRED 25, C/O VISA INC JUN /17/2016 ( ) (15,620.00) 0.00 C/O UNITEDHEALTH G JUN /17/2016 ( ) (17,480.00) 0.00 C/O BRISTOL-MYERS JUN /17/2016 ( ) (27,810.00) 0.00 C/O PRUDENTIAL FIN JUN /17/2016 ( ) (17,205.00) 0.00 C/O COMCAST CORP N JUN /17/2016 ( ) (13,420.00) 0.00 C/O AMAZON COM INC JUN /17/2016 (77.000) (21,560.00) 0.00 C/O ABBVIE INC JUN /17/2016 ( ) (11,187.50) 0.00 C/O FACEBOOK INC JUN /17/2016 ( ) (45,300.00) C/O TEXAS INSTRUME JUN /17/2016 ( ) (46,155.00) -0.01

11 PORTFOLIO HOLDINGS FOR ALLIANZGI EQUITY & CONVERTIBLE INCOME FUND (As of Apr 29, 2016) The Fund is a closed-end exchange traded management investment company. This material is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Investment policies, management fees and other matters of interest to prospective investors may be found in each closed-end fund prospectus used in its initial public offering, as revised by subsequent shareholder reports. Holdings are subject to change daily. Allianz Global Investors Fund Management LLC, is an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P. Allianz Global Investors Fund Management LLC serves as the Fund's investment manager, and the sub-adviser is Allianz Global Investors US LLC. This update is produced by Allianz Global Investors Distributors LLC. AGI A Word About Risk: Past performance is no guarantee of future results. Holdings are subject to change daily. Holdings are subject to market risk, the risk that the price of a security may decline due to general market conditions which are not specifically related to a particular company. Investing in convertibles may entail risk. Funds that invest in convertibles may have to convert before they would otherwise, which may have an adverse effect on the Fund s ability to achieve its investment objective. High-yield convertibles and other high yield fixed-income securities typically have a lower credit rating than other securities and generally involve a greater risk to principal than higher rated securities. Rising interest rates may negatively impact convertibles and other fixed-income securities. The impact may be greater with longer-duration bonds. The market for certain securities may become illiquid, which could prevent the Fund from purchasing or selling these securities at an advantageous time or price and possibly delay redemptions of Fund shares. The use of leverage may cause a Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. This may cause a Fund to be more volatile, which may increase the risk of investment loss. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk (the risk that illiquid securities may not be able to be sold at an advantageous time or price), interest rate risk (the risk that the value of fixed-income securities will decline if interest rates rise), market risk (the risk that the market price of securities may go up or down, sometimes rapidly or unpredictably), credit risk (the risk that the counterparty to a derivatives contract, repurchase agreement or a loan of portfolio securities, may be unable or unwilling to make timely principal and/or interest payments, or to otherwise honor its obligations), management risk (the risk that investment management decisions may not produce the desired results) and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments. The fund may invest in non-u.s. securities which entails additional risks, including political and economic risk and the risk of currency fluctuations; these risks may be enhanced in emerging markets. On January 24, 2014 AllianzGI Global Equity & Convertible Income Fund merged into AllianzGI Equity & Convertible Income Fund. Description Coupon Maturity Quality Number of Shares Price Market Value AMAZON.COM INC 16, ,685, APPLE INC 110, ,367, ALPHABET INC-CL A 14, ,126, FACEBOOK INC-A 85, ,100, MICROSOFT CORP 198, ,899, HOME DEPOT INC 71, ,506, TARGET CORP 118, ,381, ORACLE CORP 230, ,167,

12 WALT DISNEY CO/THE 88, ,107, INTEL CORP 301, ,120, STARBUCKS CORP 161, ,103, AGCO CORP 170, ,100, COSTCO WHOLESALE CORP 61, ,065, TEXAS INSTRUMENTS INC 157, ,955, VISA INC-CLASS A SHARES 116, ,983, EMC CORP/MA 341, ,916, ABBVIE INC 138, ,424, AMGEN INC 52, ,342, GILEAD SCIENCES INC 91, ,027, BRISTOL-MYERS SQUIBB CO 108, ,831, MCKESSON CORP 46, ,786, MCDONALD'S CORP 58, ,450, COMCAST CORP-CLASS A 121, ,400, FORD MOTOR CO 547, ,421, PEPSICO INC 72, ,413, COCA-COLA CO/THE 164, ,360, VERIZON COMMUNICATIONS INC 140, ,151, US DOLLARS 6,926, ,926, GENERAL ELECTRIC CO 226, ,952, PROCTER & GAMBLE CO/THE 83, ,649, JOHNSON CONTROLS INC 159, ,615, QUALCOMM INC 128, ,471, AMPHENOL CORP-CL A 115, ,442, KROGER CO 182, ,455, OCCIDENTAL PETROLEUM CORP 83, ,392, BOEING CO/THE 46, ,295, INTL BUSINESS MACHINES CORP 42, ,187, M CO 37, ,209, WELLS FARGO & COMPANY /PFD/CV 5, , ,230, PRUDENTIAL FINANCIAL INC 79, ,172, UNITEDHEALTH GROUP INC 46, ,109, WALGREENS BOOTS ALLIANCE INC 74, ,874, SCHLUMBERGER LTD 72, ,784, BANK OF AMERICA CORP PREFERRED 4, , ,685, WEYERHAEUSER CO SERIES A /PFD/ 103, ,328, MONSANTO CO 56, ,283, JPMORGAN CHASE & C 8% 05/05/16 71, ,163, EXELON CORP PFD 105, ,088, WELLS FARGO & CO 101, ,047,

13 BAKER HUGHES INC 103, ,994, MACY'S INC 126, ,007, GENERAL MOTORS CO 154, ,910, BANK OF AMERICA CO 8% 05/10/16 51, ,830, LABORATORY CRP OF AMER HLDGS 38, ,809, LAM RESEARCH CORP 61, ,705, WELLTOWER INC /PREFERRED/ 75, ,629, BUNGE LTD PREFERRED 48, ,489, ALLERGAN PLC 5.5% CONV /PFD/ 5, ,475, FRONTIER COMMUNICATIONS /PFD/ 42, ,474, UNION PACIFIC CORP 51, ,474, DEERE AND CO 52, ,449, VALERO ENERGY CORP 72, ,262, HUNTINGTON BANCSHARES /PFD/ 3, , ,176, BAXTER INTERNATIONAL INC 93, ,125, UNITED TECHNOLOGIES CORP 39, ,082, ALEXANDRIA REAL ESTATE E REITS 131, ,021, ANTHEM INC /PREFERRED/ 85, ,970, CORNING INC 208, ,899, AMERICAN TOWER CORP CONV /PFD/ 36, ,798, ARCELORMITTAL-NY REGISTERED 636, ,583, NVIDIA CORP 1% 12/01/ ,000, ,573, EXELON CORP 97, ,410, BGC PARTNERS INC 4.5% 07/15/ /15/2016 3,370, ,412, MICROCHIP TECH 1.625% 02/15/ /15/2025 3,070, ,198, PRA GROUP INC 3% 08/01/ ,625, ,131, INTEL CORP 3.25% 08/01/ A2 2,000, ,045, AES TR 6.75% 10/15/29 PFD CV 58, ,997, MICRON TECHNOLOGY 3% 11/15/ /15/2043 4,165, ,970, T-MOBILE USA INC /PFD/ 42, ,865, RESTORATION HARDW ZCP 06/15/19 06/15/2019 3,495, ,896, TYSON FOODS INC PFD 38, ,821, POST HOLDINGS INC PFD 19, ,727, DYCOM INDUSTRIE 0.75% 09/15/ /15/2021 Ba3 2,600, ,684, BIOGEN INC 9, ,667, TEVA PHARMACEUTICAL CONV /PFD/ 2, ,652, WEB.COM GROUP INC 1% 08/15/ /15/2018 2,650, ,577, FELCOR LODGING A CV PFD $ , ,486, EXTRA SPACE ST 3.125% 10/01/ ,225, ,455, ON SEMICONDUCTOR C 1% 12/01/ ,620, ,389, SUNPOWER CORP 0.875% 06/01/ ,000, ,405,

14 STERICYCLE INC 5.25% PRF 29, ,321, CHENIERE ENERGY 4.25% 03/15/ /15/2045 4,000, ,325, FIAT CHRYSLER 7.875% 12/15/16 30, ,249, HERBALIFE LTD 2% 08/15/ /15/2019 2,270, ,163, FIREEYE INC 1% 06/01/ ,500, ,173, ALIBABA GROUP HOLDING-SP ADR 26, ,061, KINDER MORGAN INC SER A /PFD/ 46, ,069, INPHI CORP 1.125% 12/01/ ,000, ,076, NRG YIELD INC 3.25% 06/01/ ,265, ,061, SUNPOWER CORP 4% 01/15/ /15/2023 2,135, ,073, NATIONAL OILWELL VARCO INC 53, ,931, TWITTER INC 132, ,930, VECTOR GROUP LTD V/R 04/15/ /15/2020 1,700, ,816, WALTER INVESTMEN 4.5% 11/01/ ,000, ,831, SOLARCITY CORP 1.625% 11/01/ ,700, ,770, APACHE CORP 29, ,586, HOLOGIC INC S/UP 03/01/ ,200, ,520, TEVA PHARM FIN 0.25% 02/01/ Baa1 1,115, ,472, WPX ENERGY INC SERIES A /PFD/ 30, ,428, LINKEDIN CORP 0.5% 11/01/ ,500, ,408, JOY GLOBAL INC 64, ,369, QIHOO 360 TECH C 2.5% 09/15/ /15/2018 1,400, ,398, BIOMARIN PHARMA 0.75% 10/15/ /15/2018 1,155, ,360, HORIZON PHARMA I 2.5% 03/15/ /15/2022 1,500, ,316, MERITOR INC 7.875% 03/01/ ,000, ,196, CIENA CORP 3.75% 10/15/ /15/2018 1,000, ,127, FERRARI NV 23, ,095, DEPOMED INC 2.5% 09/01/ ,000, ,106, JAZZ INVESTMEN 1.875% 08/15/ /15/ , ,005, GOGO INC 3.75% 03/01/ ,300, ,001, CHESAPEAKE ENERGY CORP PFD 34, , COBALT INTL EN 2.625% 12/01/ ,750, , FLUOR CORP 15, , COBALT INTL EN 3.125% 05/15/ /15/2024 1,550, , SOUTHWESTERN ENERGY CO/PFD 20, , FREEPORT-MCMORAN INC 23, , DIAMOND OFFSHORE DRILLING 9, , MGIC INVESTMENT CO 5% 05/01/ , , SUNEDISON INC 2.625% 06/01/23 4,000, , GENERAL MOTORS EX 7/10/16 5, , GENERAL MOTORS EX 7/10/19 5, ,

15 SUNEDISON INC 3.375% 06/01/25 1,000, , ATP OIL & GAS CV PREFERRED 25, C/O ALPHABET INC MAY /20/2016 (43.000) (860.00) 0.00 C/O MCDONALDS CORP MAY /20/2016 ( ) (3,097.50) 0.00 C/O VISA INC MAY /20/2016 ( ) (1,750.00) 0.00 C/O UNITEDHEALTH G MAY /20/2016 ( ) (13,000.00) 0.00 C/O BRISTOL-MYERS MAY /20/2016 ( ) (22,410.00) 0.00 C/O HOME DEPOT INC MAY /20/2016 ( ) (14,662.50) 0.00 C/O UNITED TECHNOL MAY /20/2016 ( ) (825.00) 0.00 C/O PRUDENTIAL FIN MAY /20/2016 ( ) (18,257.50) 0.00 C/O COMCAST CORP N JUN /17/2016 ( ) (16,775.00) 0.00 C/O GENERAL ELECTR MAY /20/2016 ( ) (375.00) 0.00 C/O BAXTER INTL IN MAY /20/2016 ( ) (23,520.00) 0.00 C/O AMPHENOL CORP MAY /20/2016 ( ) (6,900.00) 0.00 C/O MICROSOFT CORP MAY /20/2016 (1, ) (1,785.00) 0.00 C/O 3M CO MAY /20/2016 ( ) (2,035.00) 0.00 C/O STARBUCKS CORP MAY /20/2016 ( ) (1,455.00) 0.00 C/O AMAZON COM INC MAY /20/2016 (75.000) (24,037.50) 0.00 C/O TEXAS INSTRUME MAY /20/2016 ( ) (3,080.00) 0.00 C/O TARGET CORP MAY /20/2016 ( ) (7,155.00) 0.00 C/O FACEBOOK INC MAY /20/2016 ( ) (78,300.00) -0.01

16 PORTFOLIO HOLDINGS FOR ALLIANZGI EQUITY & CONVERTIBLE INCOME FUND (As of Mar 31, 2016) The Fund is a closed-end exchange traded management investment company. This material is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Investment policies, management fees and other matters of interest to prospective investors may be found in each closed-end fund prospectus used in its initial public offering, as revised by subsequent shareholder reports. Holdings are subject to change daily. Allianz Global Investors Fund Management LLC, is an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P. Allianz Global Investors Fund Management LLC serves as the Fund's investment manager, and the sub-adviser is Allianz Global Investors US LLC. This update is produced by Allianz Global Investors Distributors LLC. AGI A Word About Risk: Past performance is no guarantee of future results. Holdings are subject to change daily. Holdings are subject to market risk, the risk that the price of a security may decline due to general market conditions which are not specifically related to a particular company. Investing in convertibles may entail risk. Funds that invest in convertibles may have to convert before they would otherwise, which may have an adverse effect on the Fund s ability to achieve its investment objective. High-yield convertibles and other high yield fixed-income securities typically have a lower credit rating than other securities and generally involve a greater risk to principal than higher rated securities. Rising interest rates may negatively impact convertibles and other fixed-income securities. The impact may be greater with longer-duration bonds. The market for certain securities may become illiquid, which could prevent the Fund from purchasing or selling these securities at an advantageous time or price and possibly delay redemptions of Fund shares. The use of leverage may cause a Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. This may cause a Fund to be more volatile, which may increase the risk of investment loss. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk (the risk that illiquid securities may not be able to be sold at an advantageous time or price), interest rate risk (the risk that the value of fixed-income securities will decline if interest rates rise), market risk (the risk that the market price of securities may go up or down, sometimes rapidly or unpredictably), credit risk (the risk that the counterparty to a derivatives contract, repurchase agreement or a loan of portfolio securities, may be unable or unwilling to make timely principal and/or interest payments, or to otherwise honor its obligations), management risk (the risk that investment management decisions may not produce the desired results) and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments. The fund may invest in non-u.s. securities which entails additional risks, including political and economic risk and the risk of currency fluctuations; these risks may be enhanced in emerging markets. On January 24, 2014 AllianzGI Global Equity & Convertible Income Fund merged into AllianzGI Equity & Convertible Income Fund. Description Coupon Maturity Quality Number of Shares Price Market Value APPLE INC 110, ,054, MICROSOFT CORP 198, ,963, ALPHABET INC-CL A 14, ,913, VISA INC-CLASS A SHARES 132, ,148, TEXAS INSTRUMENTS INC 176, ,117, FACEBOOK INC-A 85, ,801, INTEL CORP 301, ,743, TARGET CORP 118, ,709,

17 COSTCO WHOLESALE CORP 61, ,643, STARBUCKS CORP 161, ,665, AMAZON.COM INC 16, ,616, HOME DEPOT INC 71, ,473, ORACLE CORP 230, ,409, EMC CORP/MA 341, ,100, WALT DISNEY CO/THE 88, ,759, AGCO CORP 170, ,458, GILEAD SCIENCES INC 91, ,359, ABBVIE INC 138, ,888, AMGEN INC 52, ,901, COCA-COLA CO/THE 164, ,621, VERIZON COMMUNICATIONS INC 140, ,592, COMCAST CORP-CLASS A 121, ,439, MCDONALD'S CORP 58, ,402, FORD MOTOR CO 547, ,388, PEPSICO INC 72, ,378, MCKESSON CORP 46, ,296, BRISTOL-MYERS SQUIBB CO 113, ,243, GENERAL ELECTRIC CO 226, ,187, KROGER CO 182, ,976, PROCTER & GAMBLE CO/THE 83, ,831, AMPHENOL CORP-CL A 115, ,672, QUALCOMM INC 128, ,551, INTL BUSINESS MACHINES CORP 42, ,421, JOHNSON CONTROLS INC 159, ,227, WALGREENS BOOTS ALLIANCE INC 74, ,242, M CO 37, ,181, WELLS FARGO & COMPANY /PFD/CV 5, , ,025, UNITEDHEALTH GROUP INC 46, ,980, BOEING CO/THE 46, ,928, PRUDENTIAL FINANCIAL INC 79, ,741, OCCIDENTAL PETROLEUM CORP 83, ,707, MACY'S INC 126, ,576, BANK OF AMERICA CORP PREFERRED 4, , ,490, SCHLUMBERGER LTD 72, ,310, BANK OF AMERICA CO 8% 05/10/16 51, ,302, WEYERHAEUSER CO SERIES A /PFD/ 103, ,288, EXELON CORP PFD 105, ,169, ALLERGAN PLC 5.5% CONV /PFD/ 5, ,069, LAM RESEARCH CORP 61, ,087,

18 JPMORGAN CHASE & C 8% 05/05/16 71, ,955, MONSANTO CO 56, ,948, WELLS FARGO & CO 101, ,884, GENERAL MOTORS CO 154, ,853, WELLTOWER INC /PREFERRED/ 75, ,657, VALERO ENERGY CORP 72, ,643, BAKER HUGHES INC 103, ,526, LABORATORY CRP OF AMER HLDGS 38, ,495, UNITED TECHNOLOGIES CORP 45, ,531, FRONTIER COMMUNICATIONS /PFD/ 42, ,479, CORNING INC 208, ,362, BUNGE LTD PREFERRED 48, ,172, HUNTINGTON BANCSHARES /PFD/ 3, , ,148, US DOLLARS 4,057, ,057, DEERE AND CO 52, ,072, UNION PACIFIC CORP 51, ,080, ANTHEM INC /PREFERRED/ 85, ,999, ALEXANDRIA REAL ESTATE E REITS 131, ,817, BAXTER INTERNATIONAL INC 93, ,832, AMERICAN TOWER CORP CONV /PFD/ 36, ,778, NVIDIA CORP 1% 12/01/ ,000, ,578, EXELON CORP 97, ,485, BGC PARTNERS INC 4.5% 07/15/ /15/2016 3,370, ,458, INTEL CORP 3.25% 08/01/ A2 2,000, ,185, MICROCHIP TECH 1.625% 02/15/ /15/2025 3,070, ,173, TYSON FOODS INC PFD 42, ,165, AES TR 6.75% 10/15/29 PFD CV 58, ,962, ARCELORMITTAL-NY REGISTERED 636, ,915, PRA GROUP INC 3% 08/01/ ,625, ,906, MICRON TECHNOLOGY 3% 11/15/ /15/2043 4,165, ,858, RESTORATION HARDW ZCP 06/15/19 06/15/2019 3,495, ,868, STERICYCLE INC 5.25% PRF 29, ,778, T-MOBILE USA INC /PFD/ 42, ,797, POST HOLDINGS INC PFD 19, ,627, TEVA PHARMACEUTICAL CONV /PFD/ 2, ,602, DYCOM INDUSTRIE 0.75% 09/15/ /15/2021 Ba3 2,600, ,564, EXTRA SPACE ST 3.125% 10/01/ ,225, ,546, BIOGEN INC 9, ,525, FELCOR LODGING A CV PFD $ , ,493, WEB.COM GROUP INC 1% 08/15/ /15/2018 2,650, ,527, ON SEMICONDUCTOR C 1% 12/01/ ,620, ,351,

19 FIAT CHRYSLER 7.875% 12/15/16 30, ,270, TWITTER INC 132, ,185, HERBALIFE LTD 2% 08/15/ /15/2019 2,270, ,190, INPHI CORP 1.125% 12/01/ ,000, ,165, SUNPOWER CORP 4% 01/15/ /15/2023 2,135, ,175, ALIBABA GROUP HOLDING-SP ADR 26, ,118, KINDER MORGAN INC SER A /PFD/ 46, ,113, CHENIERE ENERGY 4.25% 03/15/ /15/2045 4,000, ,105, FIREEYE INC 1% 06/01/ ,500, ,131, NRG YIELD INC 3.25% 06/01/ ,265, ,977, VECTOR GROUP LTD V/R 04/15/ /15/2020 1,700, ,888, WALTER INVESTMEN 4.5% 11/01/ ,000, ,726, NATIONAL OILWELL VARCO INC 53, ,666, HOLOGIC INC S/UP 03/01/ ,200, ,554, SOLARCITY CORP 1.625% 11/01/ ,700, ,560, SUNPOWER CORP 0.875% 06/01/ ,000, ,560, TEVA PHARM FIN 0.25% 02/01/ Baa1 1,115, ,456, APACHE CORP 29, ,423, QIHOO 360 TECH C 2.5% 09/15/ /15/2018 1,400, ,398, BIOMARIN PHARMA 0.75% 10/15/ /15/2018 1,155, ,343, LINKEDIN CORP 0.5% 11/01/ ,500, ,365, HORIZON PHARMA I 2.5% 03/15/ /15/2022 1,500, ,285, CIENA CORP 3.75% 10/15/ /15/2018 1,000, ,187, MERITOR INC 7.875% 03/01/ ,000, ,164, WPX ENERGY INC SERIES A /PFD/ 30, ,066, JOY GLOBAL INC 64, ,033, GOGO INC 3.75% 03/01/ ,300, ,004, FERRARI NV 23, , DEPOMED INC 2.5% 09/01/ ,000, , COBALT INTL EN 2.625% 12/01/ ,750, , FLUOR CORP 15, , COBALT INTL EN 3.125% 05/15/ /15/2024 1,550, , CHESAPEAKE ENERGY CORP PFD 34, , SOUTHWESTERN ENERGY CO/PFD 20, , DIAMOND OFFSHORE DRILLING 9, , FREEPORT-MCMORAN INC 23, , MGIC INVESTMENT CO 5% 05/01/ , , SUNEDISON INC 2.625% 06/01/ ,000, , GENERAL MOTORS EX 7/10/16 5, , INVACARE CORP 5% 02/15/ /15/ , , GENERAL MOTORS EX 7/10/19 5, ,

20 SUNEDISON INC 3.375% 06/01/ ,000, , ATP OIL & GAS CV PREFERRED 25, C/O BAXTER INTL IN APR /15/2016 ( ) (12,600.00) 0.00 C/O VISA INC APR /15/2016 ( ) (7,155.00) 0.00 C/O HOME DEPOT INC APR /15/2016 ( ) (22,737.50) 0.00 C/O FACEBOOK INC APR /15/2016 ( ) (16,737.50) 0.00 C/O 3M CO APR /15/2016 ( ) (12,350.00) 0.00 C/O VALERO ENERGY APR /15/2016 ( ) (1,460.00) 0.00 C/O TARGET CORP APR /15/2016 ( ) (14,490.00) 0.00 C/O COSTCO WHSL CO APR /15/2016 ( ) (4,015.00) 0.00 C/O ALPHABET INC APR /15/2016 (85.000) (14,662.50) 0.00 C/O UNITEDHEALTH G APR /15/2016 ( ) (36,455.00) C/O MICROSOFT CORP APR /15/2016 ( ) (42,785.00) -0.01