UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-CSR

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act file number

811-21311

 

PIMCO High Income Fund

(Exact name of registrant as specified in charter)

 

1633 Broadway, New York, NY

 

10019

(Address of principal executive offices)

 

(Zip code)

 

Lawrence G. Altadonna – 1633 Broadway, New York, NY 10019

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

212-739-3371

 

 

Date of fiscal year end:

March 31, 2013

 

 

Date of reporting period:

September 30, 2012

 

 



 

ITEM 1: REPORT TO SHAREHOLDERS

 

 

September 30, 2012

 

 

 

PIMCO Dynamic Income Fund

 

PIMCO Global StocksPLUS® & Income Fund

 

PIMCO High Income Fund

 

 


 

 

Contents

 

 

 

 

 

Letter to Shareholders

2–3

 

 

 

 

Fund Insights

4–8

 

 

 

 

Performance & Statistics

9–11

 

 

 

 

Schedules of Investments

12–38

 

 

 

 

Statements of Assets and Liabilities

39–40

 

 

 

 

Statements of Operations

41

 

 

 

 

Statements of Changes in Net Assets

42–44

 

 

 

 

Statements of Cash Flows

45

 

 

 

 

Notes to Financial Statements

46–79

 

 

 

 

Financial Highlights

80–82

 

 

 

 

Annual Shareholder Meetings Results/Proxy Voting Policies & Procedures

83

 

 

 

 

Matters Relating to the Trustees’ Consideration of the Investment Management & Portfolio Management Agreements

84–90

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

1

 


 

Dear Shareholder:

 

Stock markets in the United States reached their highest levels in four years during the six month fiscal reporting period ended September 30, 2012. These gains occurred despite economic slowdowns in the U.S., the European Union (“E.U.”) and China, and the growing uncertainty over future levels of U.S. taxes and spending. U.S. Treasury Bond interest rates reached all-time lows during the reporting period.

 

For the reporting period ended September 30, 2012

·                  PIMCO Dynamic Income Fund returned 19.91% on net asset value (“NAV”) and 15.18% on market price since its inception on May 30, 2012.

 

·                  PIMCO Global StocksPLUS® & Income Fund returned 13.87% on NAV and 16.05% on market price.

 

·                  PIMCO High Income Fund returned 15.84% on NAV and 15.35% on market price.

 

The Standard & Poor’s 500 Index, a proxy for the U.S. stock market, advanced 3.43%, the MSCI Europe, Australasia and Far East Index (“EAFE”) declined –0.70% in U.S. dollar terms, and the BofA Merrill Lynch High Yield Master II Index advanced 6.53% for the six months ended September 30, 2012. The broad bond market, as measured by the Barclays U.S. Aggregate Index, rose 3.68%, while the Barclays U.S. Treasury Bond Index rose 0.07% during the six months ended September 30, 2012.

Hans W. Kertess

Chairman

 

Brian S. Shlissel

President & CEO

 

The sovereign debt crisis in the E.U. appeared to deepen during the six month period. Growth in the 17 member euro zone declined to a 0.2% annual pace during the second quarter of 2012, and the unemployment rate in the E.U. reached 11.4%. According to the World Bank, growth in Asia dropped to an eleven-year low due to the slowing Chinese economy.

 

In the United States, the slowing economy was reflected in gross domestic product (“GDP”), the value of goods and services produced in the country, the broadest measure of economic activity and the principal indicator of economic performance, during the fiscal reporting period. As the period opened, GDP was growing at 2.0% annually. During the second quarter of 2012, GDP slowed to an annual pace of 1.3%, and economic data indicated that growth in the July to September 2012 period would be similarly anemic. In contrast, the housing market showed signs of recovery, consumer confidence grew, and the unemployment rate fell to 7.8% in September 2012, the lowest level since January 2009.

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

 

2

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The Federal Reserve (the “Fed”) announced that it would launch a third round of “quantitative easing.” The Fed agreed to purchase $40 billion of mortgage securities each month for the foreseeable future. The objective is to continue to lower already record low mortgage rates in an effort to boost the housing market. The Fed also indicated that it would continue “Operation Twist,” which involves selling debt obligations with short-term maturities and purchasing debt obligations with longer-term maturities. The Fed also announced that the Fed Funds interest rate is expected to be held in the 0.0% to 0.25% range through 2015, longer than previously stated. Fed Chairman Ben Bernanke indicated that the goal of these policies “is to quicken the recovery and to help the economy begin to grow quickly enough to generate new jobs.”

 

The Road Ahead

Problems in the U.S., China and the E.U have fed on one another due to the intertwined nature of their respective economies. Exports have slowed, manufacturing has eased, and each country has been forced to unveil new stimulus measures to boost their economies.

 

 

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There are also concerns regarding the future levels of federal spending and taxes in the U.S. The actions of the President in the upcoming months will likely have an impact on interest rates and the financial markets.

 

For specific information on the Funds and their performance, please review the following pages. If you have any questions regarding the information provided, we encourage you to contact your financial advisor or call the Funds’ shareholder servicing agent at (800) 254-5197. In addition, a wide range of information and resources is available on our website, www.allianzinvestors.com/closedendfunds.

 

Together with Allianz Global Investors Fund Management LLC, the Funds’ investment manager, and Pacific Investment Management Company LLC (“PIMCO”), the Funds’ sub-adviser, we thank you for investing with us.

 

We remain dedicated to serving your investment needs.

 

Sincerely,

 

 

 

 

 

Hans W. Kertess

 

Brian S. Shlissel

Chairman

 

President & Chief Executive Officer

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

3

 


 

PIMCO Dynamic Income Fund Fund Insights

September 30, 2012 (unaudited)

 

For the period from its inception on May 30, 2012 through September 30, 2012 (the “reporting period”), PIMCO Dynamic Income Fund (the “Fund”) returned 19.91% on net asset value (“NAV”) and 15.18% on market price.

 

A host of macro issues caused the financial markets to experience periods of volatility during the reporting period. These included the ongoing European sovereign debt crisis, moderating global economic growth and aggressive central bank intervention. Against this backdrop, investor sentiment fluctuated between heightened risk aversion and robust risk appetite. The overall U.S. fixed income market, as measured by the Barclays U.S. Aggregate Bond Index, returned 1.62% since the Fund’s inception. The yield curve steepened over the reporting period, as short-term yields declined more than their longer-term counterparts.

 

Spread sectors (non-Treasuries) generally outperformed equal-duration Treasuries during the reporting period as investors looked for yield in the low interest rate environment. For instance, emerging market debt advanced 10.42% since the Fund’s inception, as measured by the JPMorgan EMBI Global Index. The global high yield corporate bond market, as measured by the Barclays Global High Yield Index, returned 8.98%, compared to the global credit market advance of 6.21%, as measured by the Barclays Global Credit Index.

 

Sector positioning produces mixed results

The Fund posted strong absolute and relative returns during the reporting period. The Fund’s allocation to non-agency mortgage-backed securities was rewarded as these securities outperformed like-duration Treasuries given generally strong demand for high quality income. An allocation to high yield corporate bonds contributed positively to returns due to narrowing credit spreads during the reporting period. An emphasis on banking issues enhanced performance, as these bonds outperformed the broader market. An overweighting to the Insurance sector aided results, as this sector outperformed the broader market. The Fund’s underweighting to the long end of the yield curve added to performance as the curve steepened during the reporting period.

 

The Fund’s underweight position in the Energy and Communication sectors detracted from results, as both sectors outperformed the broader market during the reporting period.

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

 

4

PIMCO High Income Fund Semi-Annual Report | 9.30.12

 

 


 

PIMCO Global StocksPLUS® & Income Fund Fund Insights

September 30, 2012 (unaudited)

 

For the six month fiscal period ended September 30, 2012, PIMCO Global StocksPLUS® & Income Fund (the “Fund”) returned 13.87% on net asset value (“NAV”) and 16.05% on market price.

 

A host of macro issues caused the global financial markets to experience periods of volatility during the reporting period. These included the ongoing European sovereign debt crisis, moderating global economic growth and aggressive central bank intervention. Against this backdrop, investor sentiment fluctuated between heightened risk aversion and robust risk appetite.

 

Despite strong performance as the reporting period progressed, the global equity markets produced mixed results during the six months ended September 30, 2012. Over this period, the U.S. stock market advanced 3.43%, as measured by the S&P 500 Index (the “S&P”). The S&P fell sharply during the first two months of the period, as investor risk aversion spiked due to fears of contagion from European sovereign debt crisis and weaker-than-expected economic data in the U.S. The S&P then rallied over the last four months of the period, given some signs of progress in Europe, coupled with additional quantitative easing by the Federal Reserve and the European Central Bank. While international developed equities, as measured by the MSCI EAFE Index, moved higher during three of the last four months of the period, it was not enough to offset earlier weakness. All told, international developed equities returned –0.70% for the six months ended September 30, 2012.

 

After initially rising in early April 2012, U.S. Treasury yields moved lower during much of the remainder of the reporting period. In late July, the yield on the 10-year Treasury reached an all-time low. The yield curve flattened during the six months ended September 30, 2012, as longer-term yields fell more than their short-term counterparts. The spread sectors (non-Treasuries) generally outperformed equal-duration Treasuries during the period as investors looked for yield in the low interest rate environment.

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

5

 


 

PIMCO Global StocksPLUS® & Income Fund Fund Insights

September 30, 2012 (unaudited) (continued)

 

Equity exposure produces mixed results

Performance benefited on average by a 52% exposure to U.S. equities during the reporting period, as the Fund utilized S&P 500 futures contracts, along with a defensive option strategy that sought to generate income and limit losses. Detracting from results was the decline in foreign equity positions during the period. The Fund utilized total return swaps to gain access to the MSCI EAFE Index. The Fund’s average exposure to foreign stocks was 48% during the reporting period. A defensive option strategy was utilized which generated income from the premiums of written “at-the-money” or slightly “out-of-the-money” call options to generate income and purchased “out-of-the-money” put options to limit losses. The U.S. equity market rally had an adverse impact on the option strategy due to its defensive nature.

 

Allocations to spread sectors produced positive results

A minor portion of the Fund’s assets are invested in futures contracts and total return swaps. These instruments permit participation in the returns of the S&P 500 and MSCI EAFE indexes without having to hold the individual stocks which comprise these indexes. The majority of the Fund’s assets are actively managed in a portfolio of fixed income securities to add incremental return.

 

The Fund’s fixed income securities contributed to performance during the reporting period. Allocations to high yield and investment grade corporate bonds, with an emphasis on the Financial and Industrials sectors, had a positive impact on returns due to narrowing credit spreads during the six-month period. Allocations to non-agency mortgage-backed securities including commercial mortgage-backed securities, were rewarded as that asset class outperformed like-duration Treasuries given generally strong demand for high quality income. An allocation to the U.S. dollar-denominated debt of select corporate and quasi-sovereign entities in Mexico and Brazil enhanced performance as spreads tightened.

 

The Fund’s U.S. interest rate strategy, which called for an overweighting to the intermediate portion of the U.S. yield curve, enhanced performance as interest rates in the U.S. declined during the six month reporting period.

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

 

6

PIMCO High Income Fund Semi-Annual Report | 9.30.12

 

 


 

PIMCO High Income Fund Fund Insights

September 30, 2012 (unaudited)

 

For the fiscal six month period ended September 30, 2012, PIMCO High Income Fund (the “Fund”), returned 15.84% on net asset value (“NAV”) and 15.35% on market price.

 

A host of macro issues caused the financial markets to experience periods of volatility during the reporting period. These included the ongoing European sovereign debt crisis, moderating global economic growth and aggressive central bank intervention. Against this backdrop, investor sentiment fluctuated between heightened risk aversion and robust risk appetite. The overall U.S. fixed income market, as measured by the Barclays U.S. Aggregate Index, returned 3.68% during the six months ended September 30, 2012. After initially rising in early April 2012, U.S. Treasury yields moved lower during much of the remainder of the reporting period. In late July, the yield on the 10-year Treasury reached an all-time low. The yield curve flattened during the six months ended September 30, 2012, as longer-term yields declined more than their short-term counterparts. The spread sectors (non-Treasuries) generally outperformed equal-duration Treasuries during the period as investors looked for yield in the low interest rate environment.

 

The U.S. high yield market advanced 6.53% during the six months ended September 30, 2012, as measured by the BofA Merrill Lynch High Yield Master II Index (the “Index”). After a strong start in April 2012, the Index declined in May, due to fears of contagion from European sovereign debt crisis and weaker then expected economic data in the U.S. The Index then rallied over the last four months of the period, due to strong investor demand and some signs of progress in Europe. In addition, investor sentiment was buoyed by additional quantitative easing by the Federal Reserve Board and the European Central Bank. In aggregate, during the six month period, lower quality securities generally underperformed their higher quality counterparts, with CCC and lower-rated bonds returning 6.39% and BB/B-rated securities in the Index returning 6.55%.

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

7

 


 

PIMCO High Income Fund Fund Insights

September 30, 2012 (unaudited) (continued)

 

Sector positioning produces mixed results

The Fund posted strong absolute and relative returns during the reporting period. The Fund’s allocation to non-agency mortgage-backed securities was rewarded as these securities outperformed like-duration Treasuries given generally strong demand for high quality income. An emphasis on select high quality banking issues enhanced performance, as these bonds outperformed the broader market. Both an overweighting to the Insurance sector, as this sector outperformed the broader market, as well as security selection within the Insurance sector, contributed positively to results. The Fund’s long duration added to performance as interest rates in the U.S. declined during the six month period.

 

Detracting from these positive results was the Fund’s underweight positions in the Energy and Communication sectors, as both sectors outperformed the broader market.

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

 

8

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PIMCO Dynamic Income Fund
Performance & Statistics

September 30, 2012 (unaudited)

 

Total Return(1):

 

Market Price

 

NAV

Commencement of Operations (5/30/12) to 9/30/12

 

15.18%

 

19.91%

 

Market Price/NAV Performance:

 

Market Price/NAV:

 

 

Commencement of Operations (5/30/12) to 9/30/12

 

Market Price

 

$28.23

 

 Market Price

 NAV

 

 

NAV

 

$28.02

 

Premium to NAV

 

0.75%

 

Market Price Yield(2)

 

7.52%

 

Leverage Ratio(3)

 

48.01%

 

 

 

 

 

 

 

 

(1) Past performance is no guarantee of future results. Total return is calculated by determining the percentage change in NAV or market price (as applicable) in the specified period. The calculation assumes that all income dividends have been reinvested. Total return does not reflect broker commissions or sales charges in connection with the purchase or sale of Fund shares. Total return for a period of less than one year is not annualized.

 

Performance at market price will differ from results at NAV. Although market price returns typically reflect investment results over time, during shorter periods returns at market price can also be influenced by factors such as changing views about the Fund, market conditions, supply and demand for the Fund ‘s shares, or changes in the Fund’s dividends.

 

An investment in the Fund involves risk, including the loss of principal. Total return, market price, market price yield and NAV will fluctuate with changes in market conditions. This data is provided for information purposes only and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one time public offering and, once issued, shares of closed-end funds are traded in the open market through a stock exchange. NAV is equal to total assets attributable to common shareholders less total liabilities divided by the number of common shares outstanding. Holdings are subject to change daily.

 

(2) Market Price Yield is determined by dividing the annualized current monthly dividend per share (comprised of net investment income and short-term capital gains, if any) by the market price per share at September 30, 2012.

 

(3) Represents Reverse Repurchase Agreements (“Leverage”) outstanding, as a percentage of total Managed assets. Total Managed assets refer to total assets (including assets attributable to Leverage) minus accrued liabilities (other than liabilities representing Leverage).

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

9

 


 

PIMCO Global StocksPLUS® & Income Fund
Performance & Statistics

September 30, 2012 (unaudited)

 

Total Return(1):

 

Market Price

 

NAV

Six Month

 

16.05%

 

13.87%

1 Year

 

39.02%

 

43.37%

5 Year

 

19.92%

 

8.93%

Commencement of Operations (5/31/05) to 9/30/12

 

16.37%

 

11.28%

 

Market Price/NAV Performance:

 

Market Price/NAV:

 

 

Commencement of Operations (5/31/05) to 9/30/12

 

Market Price

 

$22.18

 

 Market Price

 NAV

 

 

NAV

 

$13.06

 

Premium to NAV

 

69.83%

 

Market Price Yield(2)

 

9.92%

 

Leverage Ratio(3)

 

44.65%

 

 

 

 

 

 

(1) Past performance is no guarantee of future results. Total return is calculated by determining the percentage change in NAV or market price (as applicable) in the specified period. The calculation assumes that all income dividends, capital gain and return of capital distributions, if any, have been reinvested. Total return does not reflect broker commissions or sales charges in connection with the purchase or sale of Fund shares. Total return for a period of less than one year is not annualized. Total return for a period of more than one year represents the average annual total return.

 

Performance at market price will differ from results at NAV. Although market price returns typically reflect investment results over time, during shorter periods returns at market price can also be influenced by factors such as changing views about the Fund, market conditions, supply and demand for the Fund’s shares, or changes in the Fund’s dividends.

 

An investment in the Fund involves risk, including the loss of principal. Total return, market price, market price yield and NAV will fluctuate with changes in market conditions. This data is provided for information purposes only and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one time public offering and, once issued, shares of closed-end funds are traded in the open market through a stock exchange. NAV is equal to total assets attributable to common shareholders less total liabilities divided by the number of common shares outstanding. Holdings are subject to change daily.

 

(2) Market Price Yield is determined by dividing the annualized current monthly dividend per share (comprised of net investment income) by the market price per share at September 30, 2012.

 

(3) Represents Reverse Repurchase Agreements (“Leverage”) outstanding, as a percentage of total Managed assets. Total Managed assets refer to total assets (including assets attributable to Leverage) minus accrued liabilities (other than liabilities representing Leverage).

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

 

10

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PIMCO High Income Fund
Performance & Statistics

September 30, 2012 (unaudited)

 

Total Return(1):

 

Market Price

 

NAV

Six Month

 

15.35%

 

15.84%

1 Year

 

38.23%

 

34.55%

5 Year

 

16.20%

 

10.01%

Commencement of Operations (4/30/03) to 9/30/12

 

13.66%

 

11.07%

 

Market Price/NAV Performance:

 

Market Price/NAV:

 

 

Commencement of Operations (4/30/03) to 9/30/12

 

Market Price

 

$14.00

 

 Market Price

 NAV

 

 

NAV

 

$8.31

 

Premium to NAV

 

68.47%

 

Market Price Yield(2)

 

9.12%

 

Leverage Ratio(3)

 

22.29%

 

 

 

 

 

 

(1) Past performance is no guarantee of future results. Total return is calculated by determining the percentage change in NAV or market price (as applicable) in the specified period. The calculation assumes that all income dividends, capital gain and return of capital distributions, if any, have been reinvested. Total return does not reflect broker commissions or sales charges in connection with the purchase or sale of Fund shares. Total return for a period of less than one year is not annualized. Total return for a period of more than one year represents the average annual total return.

 

Performance at market price will differ from results at NAV. Although market price returns typically reflect investment results over time, during shorter periods returns at market price can also be influenced by factors such as changing views about the Fund, market conditions, supply and demand for the Fund ‘s shares, or changes in the Fund’s dividends.

 

An investment in the Fund involves risk, including the loss of principal. Total return, market price, market price yield and NAV will fluctuate with changes in market conditions. This data is provided for information purposes only and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and, once issued, shares of closed-end funds are traded in the open market through a stock exchange. NAV is equal to total assets attributable to common shareholders less total liabilities divided by the number of common shares outstanding. Holdings are subject to change daily.

 

(2) Market Price Yield is determined by dividing the annualized current monthly dividend per common share (comprised of net investment income) by the market price per common share at September 30, 2012.

 

(3) Represents Preferred Shares (“Leverage”) outstanding, as a percentage of total Managed assets. Total Managed assets refer to total assets (including assets attributable to Leverage) minus accrued liabilities (other than liabilities representing Leverage).

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

11

 


 

PIMCO Dynamic Income Fund Schedule of Investments

September 30, 2012 (unaudited)

Principal
Amount
(000s)

 

 

 

 

Value

 

MORTGAGE-BACKED SECURITIES – 105.5%

 

 

 

 

 

 

 

 

 

£13,565

 

Alba PLC, 0.913%, 12/15/38, CMO (i)

 

$13,049,074

 

$13,627

 

American Home Mortgage Assets LLC, 0.507%, 8/25/37, CMO (i)

 

2,828,029

 

 

 

American Home Mortgage Investment Trust, CMO (i),

 

 

 

10,879

 

0.517%, 9/25/45 (l)

 

7,760,251

 

9,739

 

0.817%, 2/25/44

 

2,508,991

 

 

 

Banc of America Alternative Loan Trust, CMO,

 

 

 

418

 

0.617%, 5/25/35 (i)

 

299,853

 

382

 

6.00%, 6/25/46

 

296,441

 

 

 

Banc of America Funding Corp., CMO (i),

 

 

 

15,300

 

zero coupon, 7/26/36 (a) (d)

 

8,393,739

 

39,148

 

0.429%, 4/20/47 (l)

 

28,124,409

 

4,612

 

0.669%, 2/20/35

 

1,196,226

 

636

 

2.817%, 1/20/47

 

467,262

 

921

 

2.956%, 1/25/35

 

552,710

 

5,608

 

3.04%, 3/20/36

 

4,531,241

 

 

 

Banc of America Mortgage Trust, CMO (i),

 

 

 

701

 

2.66%, 10/20/46

 

376,644

 

2,744

 

5.419%, 1/25/36

 

2,445,985

 

 

 

Banc of America ReRemic Trust, CMO (a) (d),

 

 

 

13,000

 

5.383%, 12/15/16 (l)

 

13,091,500

 

38,264

 

Bank of America Large Loan, 5.665%, 2/17/51 (a) (d) (g) (i)

 

39,338,632

 

 

 

BCAP LLC Trust, CMO (a) (d),

 

 

 

14,380

 

3.05%, 5/26/36 (i)

 

6,749,524

 

8,051

 

5.017%, 3/26/35 (i)

 

6,701,938

 

27,771

 

5.085%, 4/26/37 (i)

 

14,307,655

 

6,052

 

5.168%, 10/26/35 (i)

 

4,126,730

 

13,221

 

5.50%, 12/26/35

 

8,012,520

 

4,770

 

5.676%, 7/26/35 (i)

 

3,126,076

 

13,581

 

Bear Stearns ALT-A Trust, 0.417%, 2/25/34, CMO (i) (l)

 

8,855,821

 

€25,552

 

Celtic Residential Irish Mortgage Securitisation, 0.36%, 11/13/47, CMO (i)

 

24,626,595

 

$6,475

 

Chase Mortgage Finance Corp., 5.356%, 3/25/37, CMO (i) (l)

 

5,525,082

 

 

 

Citigroup Mortgage Loan Trust, Inc., CMO (i),

 

 

 

2,064

 

2.53%, 3/25/36

 

1,872,136

 

11,694

 

3.109%, 9/25/37 (l)

 

8,809,886

 

 

 

Countrywide Alternative Loan Trust, CMO,

 

 

 

72,592

 

0.762%-1.543%, 12/25/35, IO

 

2,122,399

 

31,429

 

0.407%, 9/25/46 (i) (l)

 

20,001,786

 

34,945

 

0.947%, 11/25/35 (i) (l)

 

24,508,766

 

18,229

 

0.998%, 11/25/46 (i) (l)

 

9,725,255

 

595

 

5.50%, 2/25/20

 

596,700

 

5,998

 

5.50%, 7/25/35 (l)

 

5,307,365

 

21,851

 

5.50%, 12/25/35 (l)

 

17,310,198

 

421

 

5.50%, 1/25/36

 

350,248

 

5,886

 

5.50%, 4/25/37

 

4,350,119

 

598

 

5.75%, 1/25/36

 

460,766

 

20,334

 

5.75%, 1/25/37 (l)

 

15,153,773

 

6,925

 

5.75%, 4/25/37 (l)

 

5,535,031

 

1,009

 

6.00%, 6/25/36

 

804,754

 

402

 

6.00%, 12/25/36

 

282,911

 

5,607

 

6.00%, 1/25/37 (l)

 

4,392,216

 

697

 

6.00%, 2/25/37

 

481,245

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

12

 

PIMCO High Income Fund Semi-Annual Report | 9.30.12

 

 

 


 

PIMCO Dynamic Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

Principal
Amount
(000s)

 

 

 

 

Value

 

 

 

 

 

 

 

$14,153

 

6.00%, 4/25/37 (l)

 

$10,242,089

 

14,197

 

6.00%, 5/25/37 (l)

 

10,691,779

 

5,117

 

6.00%, 7/25/37 (l)

 

4,268,964

 

25,424

 

6.934%, 7/25/36, IO (i)

 

6,462,556

 

2,748

 

37.701%, 5/25/37 (b) (i)

 

4,950,743

 

 

 

Countrywide Home Loan Mortgage Pass Through Trust, CMO,

 

 

 

636

 

0.517%, 3/25/35 (i)

 

462,670

 

4,633

 

0.557%, 3/25/36 (i)

 

1,985,188

 

460

 

5.50%, 12/25/34

 

392,722

 

251

 

5.50%, 11/25/35

 

248,155

 

28,119

 

5.595%, 6/25/47 (i) (l)

 

25,467,327

 

914

 

6.00%, 7/25/37

 

773,545

 

12,298

 

6.00%, 8/25/37 (l)

 

11,037,429

 

656

 

6.00%, 1/25/38

 

595,714

 

 

 

Credit Suisse Mortgage Capital Certificates, CMO,

 

 

 

3,000

 

1.441%, 10/15/21 (a) (d) (i)

 

2,627,430

 

15,380

 

5.187%, 7/26/37 (a) (d) (i) (l)

 

7,964,079

 

96,182

 

5.188%, 2/27/47 (a) (d) (g) (i) (l)

 

61,579,036

 

12,950

 

5.588%, 2/15/39 (i) (l)

 

13,384,673

 

10,000

 

5.692%, 4/16/49 (a) (d) (i) (l)

 

10,873,650

 

14,123

 

5.896%, 4/25/36 (l)

 

11,345,225

 

11,208

 

6.058%, 7/26/49 (a) (d) (i)

 

5,335,776

 

8,425

 

6.50%, 10/25/21 (l)

 

6,556,640

 

21,326

 

6.50%, 7/26/36 (l)

 

10,862,148

 

25,665

 

7.00%, 8/26/36 (a) (d)

 

10,285,003

 

5,397

 

7.00%, 8/27/36 (a) (d)

 

3,962,102

 

3,163

 

Deutsche ALT-A Securities, Inc., 6.00%, 10/25/21, CMO

 

2,534,116

 

 

 

Diversity Funding Ltd., CMO (g) (i),

 

 

 

£10,860

 

2.001%, 2/10/46

 

15,187,276

 

£1,310

 

2.373%, 2/10/46

 

1,160,168

 

£1,193

 

2.842%, 2/10/46

 

749,213

 

£1,170

 

3.336%, 2/10/46

 

263,675

 

£702

 

4.623%, 2/10/46

 

73,452

 

£247

 

4.979%, 2/10/46 (b) (f)

 

3,980

 

£234

 

5.071%, 2/10/46 (b) (f)

 

3,767

 

€28,532

 

Emerald Mortgages PLC, 0.24%, 7/15/48, CMO (i)

 

26,674,093

 

€23,357

 

Fastnet Securities PLC, 0.361%, 8/10/43, CMO (i)

 

21,720,538

 

$16,139

 

First Horizon Alternative Mortgage Securities, 2.608%, 8/25/35, CMO (i)

 

3,743,285

 

1,620

 

First Horizon Asset Securities, Inc., 5.50%, 8/25/37, CMO

 

1,492,159

 

7,958

 

GMAC Commercial Mortgage Securities, Inc., 4.915%, 12/10/41, CMO (l)

 

7,936,338

 

5,869

 

Greenpoint Mortgage Funding Trust, 0.417%, 12/25/46, CMO (i)

 

1,931,262

 

 

 

GSR Mortgage Loan Trust, CMO,

 

 

 

101

 

3.129%, 11/25/35 (i)

 

86,331

 

511

 

5.50%, 5/25/36

 

452,530

 

2,227

 

6.50%, 8/25/36 (i)

 

1,820,759

 

 

 

Harborview Mortgage Loan Trust, CMO (i),

 

 

 

27,160

 

0.459%, 3/19/36 (l)

 

16,806,004

 

15,298

 

0.469%, 1/19/36 (l)

 

9,901,910

 

16,680

 

0.869%, 6/20/35 (l)

 

8,106,277

 

3,744

 

1.119%, 6/20/35

 

864,929

 

599

 

Impac CMB Trust, 0.937%, 10/25/34, CMO (i)

 

453,914

 

9,567

 

IndyMac IMSC Mortgage Loan Trust, 3.069%, 6/25/37, CMO (i) (l)

 

5,673,720

 

184

 

Indymac INDA Mortgage Loan Trust, 5.356%, 3/25/37, CMO (i)

 

151,457

 

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

13

 


 

PIMCO Dynamic Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

Principal
Amount
(000s)

 

 

 

 

Value

 

 

 

 

 

 

 

 

 

Indymac Index Mortgage Loan Trust, CMO (i),

 

 

 

$7,695

 

0.417%, 11/25/46 (l)

 

$2,999,809

 

4,700

 

0.467%, 2/25/37

 

1,515,259

 

755

 

0.517%, 7/25/36

 

542,007

 

371

 

2.71%, 2/25/35

 

319,478

 

 

 

JPMorgan Alternative Loan Trust, CMO (l),

 

 

 

61,575

 

0.417%, 6/25/37 (i)

 

29,863,258

 

14,186

 

5.85%, 11/25/36 (i)

 

12,896,922

 

10,000

 

5.96%, 12/25/36

 

7,328,330

 

5,000

 

6.31%, 8/25/36

 

3,553,865

 

76,289

 

JPMorgan Chase Commercial Mortgage Securities Corp., 2.234%, 6/16/45, CMO, IO (i) (l)

 

8,930,688

 

 

 

JPMorgan Mortgage Trust, CMO (i),

 

 

 

14,083

 

2.997%, 6/25/37 (l)

 

11,126,823

 

10,512

 

5.571%, 4/25/37 (l)

 

9,436,503

 

2,996

 

5.831%, 10/25/36

 

2,797,209

 

8,050

 

Lavendar Trust, 5.50%, 9/26/35, CMO (a) (d) (g)

 

4,717,675

 

10,912

 

LB Commercial Mortgage Trust, 6.086%, 7/15/44, CMO (i) (l)

 

11,617,382

 

 

 

LB-UBS Commercial Mortgage Trust, CMO (i),

 

 

 

301,571

 

0.186%, 2/15/40, IO (a) (d)

 

4,283,517

 

7,751

 

5.452%, 9/15/39 (l)

 

8,016,243

 

 

 

Lehman Mortgage Trust, CMO,

 

 

 

339

 

5.50%, 11/25/35

 

340,457

 

2,823

 

6.00%, 8/25/36

 

2,206,353

 

1,737

 

6.00%, 9/25/36

 

1,259,938

 

13,475

 

6.50%, 9/25/37 (l)

 

11,179,156

 

51,053

 

7.25%, 9/25/37 (l)

 

26,996,491

 

6,016

 

Lehman XS Trust, 0.717%, 7/25/47, CMO (i)

 

278,669

 

 

 

MASTR Adjustable Rate Mortgages Trust, CMO (i),

 

 

 

34,383

 

0.417%, 5/25/47 (l)

 

22,361,367

 

6,708

 

0.557%, 5/25/47

 

976,538

 

 

 

MASTR Alternative Loans Trust, CMO (i),

 

 

 

29,291

 

0.567%, 3/25/36 (l)

 

4,795,473

 

37,435

 

0.617%, 3/25/36

 

6,479,506

 

729

 

MASTR Asset Securitization Trust, 5.26%, 11/25/33, CMO (a) (b) (d) (i) (m)
(acquisition cost-$106,157; purchased 9/28/12)

 

171,971

 

 

 

Morgan Stanley Reremic Trust, CMO (a) (d),

 

 

 

11,082

 

2.61%, 1/26/35 (i)

 

7,824,859

 

6,285

 

2.61%, 2/26/37 (i)

 

4,433,487

 

26,634

 

3.008%, 7/26/35 (i) (l)

 

16,240,575

 

4,998

 

5.32%, 9/26/35 (i)

 

3,841,861

 

7,969

 

6.00%, 4/26/36

 

4,742,610

 

 

 

Newgate Fund PLC, CMO (i),

 

 

 

€2,750

 

1.502%, 12/15/50

 

1,922,992

 

€5,250

 

1.752%, 12/15/50

 

3,175,882

 

£4,150

 

1.903%, 12/15/50

 

3,635,519

 

£2,200

 

Newgate Funding PLC, 0.853%, 12/15/50, CMO (i)

 

1,887,297

 

 

 

Nomura Asset Acceptance Corp., CMO,

 

 

 

$1,184

 

5.82%, 3/25/47

 

1,119,863

 

19,333

 

6.138%, 3/25/47 (l)

 

18,288,910

 

36,863

 

6.347%, 3/25/47 (l)

 

34,871,891

 

 

 

Residential Accredit Loans Trust, CMO,

 

 

 

14,312

 

0.397%, 7/25/36 (i) (l)

 

8,469,492

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

14

 

PIMCO High Income Fund Semi-Annual Report | 9.30.12

 

 

 


 

PIMCO Dynamic Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

Principal
Amount
(000s)

 

 

 

 

Value

 

 

 

 

 

 

 

$35,590

 

0.407%, 5/25/37 (i) (l)

 

$24,482,501

 

12,922

 

1.148%, 1/25/46 (i) (l)

 

8,182,029

 

1,885

 

6.00%, 8/25/35 (l)

 

1,700,686

 

469

 

6.00%, 6/25/36 (l)

 

346,161

 

646

 

6.00%, 6/25/36

 

476,329

 

10,844

 

6.00%, 8/25/36 (l)

 

8,275,999

 

2,133

 

6.024%, 1/25/36 (i)

 

1,427,424

 

25,436

 

7.00%, 10/25/37 (l)

 

18,999,939

 

 

 

RBSSP Resecuritization Trust, CMO (a) (d),

 

 

 

10,960

 

3.114%, 2/26/36 (i) (l)

 

3,779,365

 

10,000

 

6.00%, 3/26/36

 

6,065,485

 

19,175

 

6.969%, 11/21/35 (i) (l)

 

11,673,203

 

34,872

 

7.289%, 11/26/35 (i) (l)

 

18,257,095

 

 

 

Residential Asset Securitization Trust, CMO,

 

 

 

2,527

 

5.50%, 7/25/35

 

2,356,078

 

6,137

 

6.25%, 8/25/37

 

3,461,411

 

 

 

Residential Funding Mortgage Securities I Trust, CMO,

 

 

 

626

 

5.85%, 11/25/35

 

556,282

 

8,722

 

5.883%, 8/25/36 (i) (l)

 

7,617,310

 

4,889

 

6.00%, 4/25/37

 

4,305,060

 

2,857

 

Sequoia Mortgage Trust, 0.589%, 7/20/36, CMO (i) (l)

 

1,896,101

 

£2,722

 

Southern Pacific Securities PLC, 4.176%, 12/10/42, CMO (i)

 

3,759,262

 

 

 

Structured Adjustable Rate Mortgage Loan Trust, CMO (i) (l),

 

 

 

$8,081

 

4.891%, 8/25/36

 

5,786,868

 

16,325

 

5.151%, 2/25/37

 

10,439,000

 

6,360

 

5.189%, 4/25/47

 

4,953,667

 

 

 

Structured Asset Mortgage Investments, Inc., CMO (i),

 

 

 

5,548

 

0.387%, 3/25/37

 

811,197

 

33,382

 

0.407%, 7/25/46 (l)

 

21,762,303

 

 

 

Suntrust Alternative Loan Trust, CMO (i),

 

 

 

32,212

 

0.567%, 4/25/36 (l)

 

7,038,073

 

8,706

 

6.934%, 4/25/36, IO

 

2,315,069

 

 

 

TBW Mortgage-Backed Pass Through Certificates, CMO (l),

 

 

 

9,884

 

5.80%, 3/25/37

 

4,835,912

 

15,000

 

6.12%, 3/25/37

 

7,562,715

 

36,137

 

6.50%, 7/25/36

 

18,990,577

 

 

 

Vanwall Finance PLC, CMO (i),

 

 

 

£8,494

 

1.181%, 4/12/16

 

12,112,558

 

£7,494

 

1.441%, 4/12/16

 

10,226,047

 

 

 

WaMu Mortgage Pass Through Certificates, CMO (i),

 

 

 

$589

 

0.67%, 6/25/44

 

489,386

 

23,016

 

0.898%, 6/25/47 (l)

 

7,683,383

 

41,054

 

0.958%, 7/25/47 (l)

 

32,439,339

 

964

 

1.028%, 10/25/46

 

676,311

 

3,712

 

1.128%, 7/25/46

 

2,746,406

 

115

 

1.148%, 2/25/46

 

103,261

 

1,739

 

2.344%, 7/25/47

 

1,274,419

 

12,414

 

5.216%, 3/25/37 (l)

 

10,983,879

 

861

 

5.238%, 2/25/37

 

792,909

 

 

 

Washington Mutual Alternative Mortgage Pass-Through Certificates, CMO (l),

 

 

 

25,683

 

0.457%, 1/25/47 (i)

 

13,561,423

 

10,404

 

6.00%, 4/25/37

 

8,340,403

 

1,543

 

Wells Fargo Alternative Loan Trust, 5.75%, 7/25/37, CMO

 

1,282,971

 

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

15

 


 

PIMCO Dynamic Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

Principal
Amount
(000s)

 

 

 

 

Value

 

 

 

 

 

 

 

$28,600

 

Wells Fargo Mortgage Loan Trust, 5.596%, 4/27/36, CMO (a) (d) (i)

 

$21,901,178

 

 

 

Wells Fargo Mortgage-Backed Securities Trust, CMO,

 

 

 

1,537

 

2.648%, 10/25/35 (i)

 

1,498,855

 

1,053

 

6.00%, 7/25/36

 

1,053,684

 

2,131

 

6.00%, 9/25/36

 

2,109,534

 

647

 

6.00%, 4/25/37

 

617,241

 

1,595

 

6.00%, 6/25/37

 

1,581,391

 

3,220

 

6.00%, 8/25/37

 

3,047,360

 

Total Mortgage-Backed Securities (cost-$1,226,395,664)

 

1,333,585,442

 

 

 

 

 

 

 

CORPORATE BONDS & NOTES – 34.6%

 

 

 

 

 

 

 

 

 

Banking – 4.7%

 

 

 

12,500

 

Banco do Brasil S.A., 5.875%, 1/19/23 (a) (d) (l)

 

13,531,250

 

€15,800

 

Cooperatieve Centrale Raiffeisen-Boerenleenbank BA, 6.875%, 3/19/20 (l)

 

21,420,494

 

$6,000

 

Intesa Sanpaolo SpA, 6.50%, 2/24/21 (a) (b) (d) (l) (m)
(acquisition cost-$5,125,000; purchased 5/31/12-6/26/12)

 

5,871,246

 

€15,800

 

LBG Capital No.2 PLC, 6.385%, 5/12/20

 

18,680,295

 

 

 

 

 

59,503,285

 

Building Products – 1.2%

 

 

 

$5,000

 

Corp GEO S.A.B. De C.V., 9.25%, 6/30/20 (a) (d) (l)

 

5,200,000

 

5,000

 

Desarrolladora Homex S.A.B. De C.V., 9.75%, 3/25/20 (a) (d) (l)

 

5,125,000

 

5,000

 

Urbi Desarrollos Urbanos S.A.B. De C.V., 9.75%, 2/3/22 (a) (d) (l)

 

4,412,500

 

 

 

 

 

14,737,500

 

Chemicals – 2.1%

 

 

 

25,980

 

Ineos Finance PLC, 7.50%, 5/1/20 (a) (d) (l)

 

26,499,600

 

Commercial Services – 0.7%

 

 

 

8,550

 

Stonemor Operating LLC, 10.25%, 12/1/17 (l)

 

8,592,750

 

Construction & Engineering – 0.8%

 

 

 

10,723

 

Alion Science and Technology Corp., 12.00%, 11/1/14, PIK (l)

 

10,106,687

 

Consumer Products – 1.6%

 

 

 

4,536

 

Armored Autogroup, Inc., 9.25%, 11/1/18

 

4,082,400

 

 

 

Reynolds Group Issuer, Inc. (l),

 

 

 

6,000

 

6.875%, 2/15/21

 

6,360,000

 

9,000

 

7.875%, 8/15/19

 

9,765,000

 

 

 

 

 

20,207,400

 

Financial Services – 12.8%

 

 

 

12,900

 

AGFC Capital Trust I, 6.00%, 1/15/67, (converts to FRN on 1/15/17) (a) (d) (l)

 

7,288,500

 

€7,100

 

Caisse Centrale du Credit Immobilier de France S.A., 4.00%, 1/12/18

 

8,619,076

 

$9,600

 

Cantor Fitzgerald L.P., 7.875%, 10/15/19 (a) (b) (d) (l) (m)
(acquisition cost-$9,607,000; purchased 5/30/12-6/4/12)

 

10,050,595

 

€25,000

 

Cedulas TDA 6 Fondo de Titulizacion de Activos, 4.25%, 4/10/31 (l)

 

21,057,981

 

 

 

Citigroup, Inc. (l),

 

 

 

€3,000

 

3.625%, 11/30/17, (converts to FRN on 11/30/12)

 

3,490,533

 

€6,000

 

4.75%, 2/10/19, (converts to FRN on 2/10/14)

 

7,128,171

 

 

 

Eksportfinans ASA (l),

 

 

 

$700

 

2.00%, 9/15/15

 

654,961

 

1,700

 

5.50%, 5/25/16

 

1,735,705

 

1,900

 

5.50%, 6/26/17

 

1,940,405

 

3,500

 

Lazard Group LLC, 6.85%, 6/15/17 (l)

 

3,954,940

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

16

 

PIMCO High Income Fund Semi-Annual Report | 9.30.12

 

 

 


 

PIMCO Dynamic Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

Principal
Amount
(000s)

 

 

 

 

Value

 

 

 

 

 

 

 

Financial Services (continued)

 

 

 

$36,500

 

Morgan Stanley, 7.30%, 5/13/19 (l)

 

$43,134,569

 

 

 

Royal Bank of Scotland NV (i) (l),

 

 

 

€5,446

 

1.016%, 6/8/15

 

6,342,283

 

$5,000

 

1.108%, 3/9/15

 

4,570,750

 

€9,000

 

Royal Bank of Scotland PLC, 6.934%, 4/9/18 (l)

 

11,810,427

 

 

 

SLM Corp. (l),

 

 

 

$5,000

 

6.00%, 1/25/17

 

5,468,750

 

6,245

 

7.25%, 1/25/22

 

7,025,625

 

 

 

Societe Generale S.A. (l),

 

 

 

1,100

 

5.20%, 4/15/21

 

1,182,699

 

15,237

 

5.20%, 4/15/21 (a) (d)

 

16,382,533

 

 

 

 

 

161,838,503

 

Food – 0.7%

 

 

 

2,500

 

BRF - Brasil Foods S.A., 5.875%, 6/6/22 (a) (d) (l)

 

2,737,500

 

5,000

 

Minerva Luxembourg S.A., 12.25%, 2/10/22 (a) (d) (l)

 

5,793,500

 

 

 

 

 

8,531,000

 

Hotels/Gaming – 0.3%

 

 

 

12,000

 

Buffalo Thunder Development Authority, 9.375%, 12/15/14 (a) (b) (d) (f) (m) (n)
(acquisition cost-$4,320,000; purchased 6/28/12)

 

4,440,000

 

Insurance – 1.3%

 

 

 

£8,500

 

American International Group, Inc., 8.625%, 5/22/68, (converts to FRN on 5/22/18) (l)

 

15,921,921

 

Oil & Gas – 3.6%

 

 

 

$5,000

 

Afren PLC, 10.25%, 4/8/19 (l)

 

5,712,500

 

5,000

 

Alliance Oil Co., Ltd., 9.875%, 3/11/15

 

5,316,750

 

15,000

 

NGPL PipeCo LLC, 7.768%, 12/15/37 (a) (d) (l)

 

15,075,000

 

16,500

 

OGX Austria GmbH, 8.50%, 6/1/18 (a) (d) (l)

 

14,932,500

 

7,000

 

Petroleos de Venezuela S.A., 5.50%, 4/12/37 (l)

 

4,270,000

 

 

 

 

 

45,306,750

 

Oil, Gas & Consumable Fuels – 0.4%

 

 

 

5,000

 

Mongolian Mining Corp., 8.875%, 3/29/17 (a) (d) (l)

 

5,087,500

 

Retail – 2.5%

 

 

 

£500

 

Enterprise Inns PLC, 6.50%, 12/6/18

 

712,530

 

£4,066

 

Punch Taverns Finance PLC, 6.82%, 7/15/20 (l)

 

6,236,872

 

£12,120

 

Spirit Issuer PLC, 5.472%, 12/28/34 (i)

 

14,874,239

 

£6,800

 

Unique Pub Finance Co. PLC, 6.542%, 3/30/21

 

9,992,378

 

 

 

 

 

31,816,019

 

Technology – 0.8%

 

 

 

 

 

First Data Corp. (a) (d) (l),

 

 

 

$5,000

 

7.375%, 6/15/19

 

5,181,250

 

5,000

 

8.75%, 1/15/22, PIK

 

5,062,500

 

 

 

 

 

10,243,750

 

Telecommunications – 1.1%

 

 

 

8,500

 

Nokia Oyj, 5.375%, 5/15/19 (l)

 

7,161,250

 

7,000

 

VimpelCom Holdings BV, 7.504%, 3/1/22 (l)

 

7,358,750

 

 

 

 

 

14,520,000

 

Total Corporate Bonds & Notes (cost-$397,631,206)

 

437,352,665

 

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

17

 


 

PIMCO Dynamic Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

Principal
Amount
(000s)

 

 

 

 

Value

 

ASSET-BACKED SECURITIES – 21.7%

 

 

 

 

 

 

 

 

 

 

 

Bear Stearns Asset Backed Securities Trust (i),

 

 

 

$4,000

 

0.767%, 6/25/36 (l)

 

$2,614,122

 

592

 

2.683%, 10/25/36

 

333,291

 

2,943

 

Bombardier Capital Mortgage Securitization Corp., 7.44%, 12/15/29 (i) (l)

 

1,905,792

 

 

 

Citigroup Mortgage Loan Trust, Inc.,

 

 

 

687

 

5.852%, 5/25/36

 

419,634

 

4,086

 

5.923%, 3/25/36

 

2,893,536

 

 

 

Conseco Finance Securitizations Corp.,

 

 

 

6,228

 

7.96%, 5/1/31

 

5,184,301

 

18,519

 

7.97%, 5/1/32 (l)

 

13,372,603

 

33,049

 

8.20%, 5/1/31 (l)

 

28,127,636

 

7,000

 

Conseco Financial Corp., 7.06%, 2/1/31 (i) (l)

 

6,799,450

 

 

 

Countrywide Asset-Backed Certificates,

 

 

 

15,000

 

0.387%, 6/25/47 (i) (l)

 

10,112,948

 

6,059

 

0.417%, 4/25/36 (i) (l)

 

4,783,854

 

38

 

1.017%, 3/25/33 (i)

 

31,318

 

2,405

 

1.597%, 12/25/32 (i)

 

1,549,423

 

1,600

 

4.915%, 2/25/36 (i)

 

1,432,032

 

2,828

 

5.348%, 7/25/36 (i)

 

2,339,041

 

4,645

 

5.505%, 4/25/36 (i) (l)

 

4,001,840

 

4,918

 

5.588%, 8/25/36 (i)

 

4,227,602

 

5,561

 

5.657%, 3/25/34 (i)

 

5,757,447

 

555

 

5.859%, 10/25/46

 

354,226

 

13,581

 

CSAB Mortgage Backed Trust, 5.50%, 5/25/37 (l)

 

11,675,739

 

 

 

EMC Mortgage Loan Trust (a) (d) (i),

 

 

 

301

 

0.667%, 12/25/42

 

245,307

 

14,869

 

0.687%, 4/25/42 (l)

 

11,241,547

 

1,658

 

2.467%, 4/25/42

 

776,551

 

13,141

 

GMAC Mortgage Corp. Loan Trust, 6.249%, 12/25/37 (l)

 

11,313,555

 

5,150

 

GSAA Trust, 6.205%, 3/25/46

 

4,925,597

 

2,169

 

Indymac Home Equity Loan Asset-Backed Trust, 7.559%, 12/25/31

 

952,313

 

13,473

 

Lehman XS Trust, 6.17%, 6/25/46 (l)

 

11,573,144

 

326

 

Long Beach Mortgage Loan Trust, 1.267%, 2/25/34 (i)

 

258,374

 

27,500

 

Morgan Stanley Home Equity Loan Trust, 0.447%, 4/25/37 (i) (l)

 

12,351,556

 

 

 

Oakwood Mortgage Investors, Inc. (i),

 

 

 

9,736

 

5.92%, 9/15/17

 

4,699,851

 

5,942

 

6.61%, 2/15/21

 

3,152,127

 

27,166

 

7.40%, 7/15/30 (l)

 

19,997,215

 

7,719

 

7.405%, 12/15/30

 

4,519,863

 

6,550

 

7.84%, 11/15/29 (l)

 

6,519,872

 

 

 

Popular ABS Mortgage Pass-Through Trust,

 

 

 

3,663

 

1.467%, 8/25/35 (i)

 

1,405,039

 

8,422

 

5.105%, 7/25/35 (l)

 

6,025,709

 

11,872

 

Residential Asset Mortgage Trust, 1.192%, 4/25/34 (i) (l)

 

7,847,307

 

10,865

 

RASC Trust, 0.377%, 6/25/36 (i) (l)

 

8,579,131

 

47

 

Renaissance Home Equity Loan Trust, 0.717%, 12/25/33 (i)

 

42,038

 

2,738

 

Soundview Home Equity Loan Trust, 5.562%, 10/25/36

 

2,038,913

 

200,127

 

South Coast Funding, 0.72%, 1/6/41 (a) (b) (d) (g) (i) (m)
(acquisition cost-$42,902,163; purchased 8/16/12)

 

44,021,858

 

8,564

 

Structured Asset Securities Corp., 4.217%, 5/25/32 (i)

 

3,548,104

 

399

 

Vanderbilt Mortgage Finance, 9.25%, 11/7/32 (i)

 

405,801

 

Total Asset-Backed Securities (cost-$262,023,364)

 

274,356,607

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

18

 

PIMCO High Income Fund Semi-Annual Report | 9.30.12

 

 

 


 

PIMCO Dynamic Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

Principal
Amount
(000s)

 

 

 

 

Value

 

SENIOR LOANS (a) (c) – 7.2%

 

 

 

 

 

 

 

 

 

Automotive – 0.9%

 

 

 

$12,000

 

Keystone Automotive Operations, Inc., 9.75%-10.25%, 2/15/16, Term B (b) (m)
(aquisition cost-$12,000,000; purchased 7/19/12-8/8/12)

 

$12,180,000

 

Financial Services – 3.2%

 

 

 

13500

 

RFC Borrower LLC, 5.00%-6.75%, 11/18/13

 

13,634,690

 

27,000

 

Springleaf Finance Corp., 5.50%, 5/10/17

 

26,487,000

 

 

 

 

 

40,121,690

 

Food & Beverage – 0.5%

 

 

 

5,985

 

Candy Intermediate Holdings, Inc., 7.50%-8.50%, 6/18/18

 

6,063,553

 

Hotels/Gaming – 1.2%

 

 

 

15,200

 

Stockbridge SBE Holdings LLC, 13.00%, 5/2/17, Term B (b) (m)
(acquisition cost-$14,963,250; purchased 5/30/12-7/10/12)

 

15,200,000

 

Telecommunications – 1.4%

 

 

 

17,588

 

Univision Communications, Inc., 4.466%, 3/31/17

 

17,453,630

 

Total Senior Loans (cost-$87,439,037)

 

91,018,873

 

 

 

 

 

 

 

U.S. GOVERNMENT AGENCY SECURITIES – 5.1%

 

 

 

 

 

 

 

 

 

 

 

Fannie Mae,

 

 

 

30,333

 

5.704%, 7/25/41, CMO, IO (i) (l)

 

4,276,223

 

39,930

 

5.854%, 10/25/40, CMO, IO (i) (l)

 

5,822,165

 

3,207

 

6.084%, 1/25/38, CMO, IO (i)

 

451,257

 

1,560

 

6.134%, 12/25/37, CMO, IO (i)

 

235,237

 

3,495

 

6.184%, 12/25/37, CMO, IO (i)

 

544,004

 

1,112

 

6.194%, 6/25/37, CMO, IO (i)

 

189,813

 

13,120

 

6.224%, 3/25/37, CMO, IO (i) (l)

 

2,031,655

 

80,406

 

6.224%, 4/25/37, CMO, IO (i) (l)

 

11,826,673

 

3,118

 

6.234%, 4/25/37, CMO, IO (i)

 

619,448

 

805

 

6.284%, 2/25/37, CMO, IO (i)

 

126,867

 

2,598

 

6.304%, 9/25/37, CMO, IO (i)

 

486,341

 

89,100

 

6.344%, 6/25/41, CMO, IO (i) (l)

 

13,348,905

 

595

 

6.384%, 11/25/35, CMO, IO (i)

 

108,000

 

866

 

6.434%, 11/25/36, CMO, IO (i)

 

127,962

 

3,158

 

6.504%, 6/25/37, CMO, IO (i)

 

460,271

 

6,994

 

6.534%, 10/25/35, CMO, IO (i)

 

1,168,877

 

6,229

 

6.554%, 5/25/37, CMO, IO (i)

 

1,280,626

 

7,499

 

6.584%, 11/25/36, CMO, IO (i)

 

1,459,758

 

7,585

 

6.764%, 3/25/38, CMO, IO (i)

 

1,683,267

 

6,097

 

6.784%, 2/25/38, CMO, IO (i)

 

1,016,042

 

5,829

 

6.884%, 6/25/23, CMO, IO (i)

 

1,091,401

 

5,985

 

11.888%, 1/25/41, CMO (b) (i) (l)

 

8,132,693

 

 

 

 

 

56,487,485

 

 

 

Freddie Mac,

 

 

 

1,414

 

6.189%, 5/15/37, CMO, IO (i)

 

231,495

 

8,243

 

6.249%, 7/15/36, CMO, IO (i)

 

1,604,054

 

3,592

 

6.359%, 9/15/36, CMO, IO (i)

 

591,587

 

8,753

 

6.479%, 4/15/36, CMO, IO (i)

 

1,286,601

 

6,056

 

7.559%, 9/15/36, CMO, IO (i)

 

1,480,100

 

1,579

 

13.858%, 9/15/41, CMO (b) (i)

 

1,873,194

 

881

 

16.323%, 9/15/34, CMO (b) (i)

 

1,167,561

 

 

 

 

 

8,234,592

 

Total U.S. Government Agency Securities (cost-$66,011,485)

 

64,722,077

 

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

19

 


 

PIMCO Dynamic Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

 

 

Value

 

CONVERTIBLE PREFERRED STOCK – 1.9%

 

 

 

 

 

 

 

 

 

Aerospace & Defense – 0.3%

 

 

 

70,000

 

United Technologies Corp., 7.50%, 8/1/15

 

$3,927,000

 

Electric Utilities – 0.7%

 

 

 

151,700

 

PPL Corp., 8.75%, 5/1/14

 

8,297,990

 

Financial Services – 0.9%

 

 

 

10,000

 

General Electric Capital Corp., 7.125%, 6/15/22 (h)

 

11,187,710

 

Total Convertible Preferred Stock (cost-$21,480,278)

 

23,412,700

 

 

 

 

 

 

 

Principal
Amount
(000)

 

 

 

 

 

 

SHORT-TERM INVESTMENTS – 14.0%

 

 

 

 

 

 

 

 

 

U.S. Treasury Obligations (j) (p) – 4.6%

 

 

 

$57,879

 

U.S. Treasury Bills, 0.117%-0.206%, 1/31/13-8/22/13 (cost-$57,809,748)

 

57,817,645

 

Repurchase Agreements – 9.4%

 

 

 

12,600

 

Barclays Capital, Inc.,
dated 9/28/12, 0.25%, due 10/1/12, proceeds $12,600,263; collateralized by U.S. Treasury Inflation Indexed Notes, 0.125%, due 7/15/22, valued at $12,828,867 including accrued interest

 

12,600,000

 

105,000

 

Credit Suisse Securities (USA) LLC,
dated 9/28/12, 0.28%, due 10/1/12, proceeds $105,002,450; collateralized by U.S. Treasury Notes, 0.25%, due 2/28/14, valued at $107,400,794 including accrued interest

 

105,000,000

 

1,417

 

State Street Bank & Trust Co.,
dated 9/28/12, 0.01%, due 10/1/12, proceeds $1,417,001; collateralized by U.S. Treasury Bonds, 4.50%, due 5/15/38, valued at $1,448,400 including accrued interest

 

1,417,000

 

Total Repurchase Agreements (cost-$119,017,000)

 

119,017,000

 

Total Short-Term Investments (cost-$176,826,748)

 

176,834,645

 

Total Investments (cost-$2,237,807,782) – 190.0%

 

2,401,283,009

 

Liabilities in excess of other assets – (90.0)%

 

(1,137,293,105

)

Net Assets – 100%

 

$1,263,989,904

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

20

 

PIMCO High Income Fund Semi-Annual Report | 9.30.12

 

 

 


 

PIMCO Global StocksPLUS® & Income Fund Schedule of Investments

September 30, 2012 (unaudited)

Principal
Amount
(000s)

 

 

 

 

Value

 

MORTGAGE-BACKED SECURITIES – 67.7%

 

 

 

 

 

 

 

 

 

 

 

Banc of America Funding Corp., CMO (i),

 

 

 

$273

 

0.439%, 7/20/36

 

$238,747

 

1,014

 

2.817%, 12/20/34

 

845,710

 

1,994

 

5.572%, 3/20/36

 

1,672,532

 

572

 

5.846%, 1/25/37

 

431,240

 

2,000

 

Banc of America Merrill Lynch Commercial Mortgage, Inc., 5.473%, 3/11/41, CMO (a) (d) (i)

 

1,441,394

 

9

 

Banc of America Mortgage Trust, 6.00%, 7/25/46, CMO

 

7,724

 

756

 

BCAP LLC Trust, 6.25%, 11/26/36, CMO (a) (d)

 

750,999

 

3,000

 

BCRR Trust, 5.858%, 7/17/40, CMO (a) (d) (i) (l)

 

3,291,483

 

 

 

Bear Stearns Adjustable Rate Mortgage Trust, CMO (i),

 

 

 

458

 

2.901%, 3/25/35

 

400,518

 

1,245

 

2.959%, 2/25/34 (l)

 

1,233,348

 

851

 

5.607%, 7/25/36

 

640,227

 

 

 

Bear Stearns Alt-A Trust, CMO (i),

 

 

 

568

 

2.766%, 4/25/35

 

431,721

 

227

 

2.768%, 11/25/35

 

166,683

 

350

 

3.006%, 9/25/35

 

284,125

 

 

 

Bear Stearns Commercial Mortgage Securities, CMO (i),

 

 

 

1,000

 

5.694%, 6/11/50

 

1,183,019

 

1,300

 

5.702%, 3/13/40 (a) (d) (l)

 

1,232,070

 

1,000

 

5.94%, 2/11/41 (a) (d)

 

817,400

 

 

 

Bear Stearns Structured Products, Inc., CMO (i),

 

 

 

563

 

2.837%, 12/26/46

 

327,930

 

1,648

 

2.84%, 1/26/36

 

1,040,423

 

1,362

 

CBA Commercial Small Balance Commercial Mortgage, 5.54%, 1/25/39, CMO (a) (b) (d) (m)
(acquisition cost-$767,923; purchased 11/18/09)

 

729,976

 

 

 

CC Mortgage Funding Corp., CMO (a) (d) (i),

 

 

 

319

 

0.517%, 8/25/35

 

245,889

 

20

 

0.557%, 10/25/34

 

18,747

 

 

 

Celtic Residential Irish Mortgage Securitisation, CMO (i),

 

 

 

€2,721

 

0.36%, 11/13/47

 

2,622,112

 

£2,463

 

0.916%, 12/14/48

 

2,992,826

 

$964

 

Charlotte Gateway Village LLC, 6.41%, 12/1/16, CMO (a) (b) (d) (g) (m)
(acquisition cost-$1,021,797; purchased 1/9/06)

 

978,904

 

1,481

 

Citigroup Mortgage Loan Trust, Inc., 3.046%, 3/25/37, CMO (i)

 

1,039,318

 

1,015

 

Citigroup/Deutsche Bank Commercial Mortgage Trust, 5.393%, 7/15/44, CMO (i)

 

941,064

 

760

 

Commercial Mortgage Pass Through Certificates, 6.118%, 7/10/46, CMO (a) (d) (i)

 

832,913

 

 

 

Countrywide Alternative Loan Trust, CMO,

 

 

 

1,592

 

0.429%, 5/20/46 (i)

 

986,473

 

304

 

0.457%, 12/25/46 (i)

 

106,514

 

1,927

 

0.547%, 10/25/35 (i)

 

1,207,208

 

3,779

 

0.567%, 5/25/36 (i)

 

2,063,672

 

521

 

2.897%, 2/25/37 (i)

 

397,407

 

481

 

5.276%, 10/25/35 (i)

 

358,728

 

1,257

 

5.50%, 8/25/34

 

1,079,756

 

66

 

5.50%, 2/25/36

 

49,803

 

1,155

 

5.50%, 3/25/36

 

777,913

 

1,470

 

6.00%, 5/25/37

 

1,106,914

 

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

9.30.12 | 

PIMCO High Income Fund Semi-Annual Report

21

 


 

PIMCO Global StocksPLUS® & Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

Principal
Amount
(000s)

 

 

 

 

Value

 

 

 

 

 

 

 

 

$182

 

6.25%, 9/25/34

 

$180,557

 

2,743

 

6.934%, 7/25/36, IO (i)

 

697,327

 

 

 

Countrywide Home Loan Mortgage Pass Through Trust, CMO,

 

 

 

365

 

0.457%, 3/25/36 (i)

 

270,748

 

2,294

 

0.537%, 3/25/35 (i)

 

1,698,594

 

259

 

0.607%, 2/25/35 (i)

 

155,875

 

298

 

2.788%, 10/20/35 (i)

 

185,475

 

526

 

2.945%, 10/20/35 (i)

 

457,779

 

637

 

3.012%, 8/25/34 (i)

 

552,690

 

635

 

3.296%, 3/25/37 (i)

 

379,924

 

1,460

 

5.102%, 10/20/35 (i)

 

1,144,979

 

167

 

5.50%, 8/25/35

 

167,282

 

144

 

6.00%, 3/25/36

 

5,683

 

2,600

 

Credit Suisse First Boston Mortgage Securities Corp., 5.745%, 12/15/36, CMO (a) (d) (i)

 

2,012,172

 

 

 

Credit Suisse Mortgage Capital Certificates, CMO,

 

 

 

900

 

5.467%, 7/18/16 (a) (d) (i)

 

954,694

 

453

 

6.00%, 11/25/36

 

449,772

 

2,000

 

6.407%, 2/15/41 (i) (l)

 

2,341,017

 

926

 

First Horizon Alternative Mortgage Securities, 2.504%, 11/25/36, CMO (i)

 

601,960

 

2,000

 

First Horizon Asset Securities, Inc., 2.589%, 1/25/37, CMO (i)

 

1,622,474

 

 

 

GE Capital Commercial Mortgage Corp., CMO (i),

 

 

 

1,000

 

5.298%, 7/10/45 (a) (d)

 

768,883

 

1,000

 

5.38%, 5/10/43

 

967,526

 

336

 

GMAC Mortgage Corp. Loan Trust, 3.454%, 6/25/34, CMO (i)

 

331,322

 

730

 

GS Mortgage Securities Corp. II, 6.134%, 8/10/43, CMO (a) (d) (i)

 

797,413

 

 

 

GSR Mortgage Loan Trust, CMO,

 

 

 

333

 

2.647%, 9/25/35 (i)

 

335,729

 

655

 

2.924%, 4/25/35 (i)

 

570,353

 

379

 

3.053%, 5/25/35 (i)

 

318,196

 

422

 

5.50%, 6/25/36

 

392,359

 

 

 

Harborview Mortgage Loan Trust, CMO (i),

 

 

 

45

 

0.519%, 4/19/34

 

43,001

 

214

 

2.55%, 11/19/34

 

152,462

 

86

 

3.01%, 2/25/36

 

57,113

 

83

 

5.322%, 8/19/36

 

69,296

 

1,033

 

5.606%, 6/19/36

 

720,828

 

938

 

HSBC Asset Loan Obligation, 2.826%, 1/25/37, CMO (i)

 

644,798

 

2

 

Impac CMB Trust, 0.857%, 10/25/33, CMO (i)

 

2,202

 

 

 

Indymac Index Mortgage Loan Trust, CMO (i),

 

 

 

3,043

 

0.487%, 6/25/37

 

880,395

 

84

 

0.497%, 3/25/35

 

65,564

 

429

 

2.732%, 6/25/37

 

272,451

 

326

 

JPMorgan Alternative Loan Trust, 7.00%, 12/25/35, CMO

 

15,740

 

1,500

 

JPMorgan Chase Commercial Mortgage Securities Corp., 5.443%, 5/15/41, CMO (a) (d) (i)

 

1,063,958

 

 

 

JPMorgan Mortgage Trust, CMO,

 

 

 

2,089

 

2.903%, 4/25/37 (i)

 

1,493,641

 

618

 

5.42%, 5/25/36 (i)

 

507,925

 

204

 

5.50%, 1/25/36

 

186,843

 

228

 

5.50%, 6/25/37

 

218,915

 

 

 

Luminent Mortgage Trust, CMO (i),

 

 

 

1,373

 

0.387%, 12/25/36

 

946,508

 

1,333

 

0.417%, 10/25/46

 

1,023,208

 

 

 

 

 

 

 

 

 

PIMCO Dynamic Income Fund

 

 

 

PIMCO Global StocksPLUS® & Income Fund

 

 

22

 

PIMCO High Income Fund Semi-Annual Report | 9.30.12

 

 

 


 

PIMCO Global StocksPLUS® & Income Fund Schedule of Investments

September 30, 2012 (unaudited) (continued)

Principal
Amount
(000s)

 

 

 

 

Value

 

 

 

 

 

 

 

 

 

MASTR Adjustable Rate Mortgage Trust, CMO (i),

 

 

 

$1,479

 

2.843%, 11/25/35 (a) (d)

 

$817,614

 

410

 

3.332%, 10/25/34

 

331,448

 

433

 

Merrill Lynch Alternative Note Asset, 0.287%, 1/25/37, CMO (i)

 

164,532

 

297

 

Merrill Lynch Investors Trust, 1.986%, 10/25/35, CMO (i)

 

288,917

 

1,000

 

Merrill Lynch/Countrywide Commercial Mortgage Trust, 5.378%, 8/12/48, CMO (l)

 

1,133,172

 

 

 

Morgan Stanley Capital I, Inc., CMO,

 

 

 

100

 

5.379%, 8/13/42 (a) (d) (i)

 

53,220

 

500

 

5.383%, 11/14/42 (i)

 

371,991

 

1,415

 

5.569%, 12/15/44 (l)

 

1,604,629

 

1,200

 

Morgan Stanley Reremic Trust, zero coupon, 7/17/56, CMO, PO (a) (b) (d) (l) (m)
(acquisition cost-$1,074,221; purchased 4/6/11)

 

1,059,000

 

468

 

Opteum Mortgage Acceptance Corp., 0.487%, 7/25/36, CMO (i)

 

281,584

 

277

 

Provident Funding Mortgage Loan Trust, 2.907%, 10/25/35, CMO (i)

 

272,373

 

3,000

 

RBSCF Trust, 6.068%, 2/17/51, CMO (a) (d) (i)

 

3,092,754

 

 

 

Residential Accredit Loans Trust CMO,

 

 

 

617

 

3.254%, 12/26/34 (i)

 

472,178

 

1,570

 

3.937%, 1/25/36 (i)

 

1,107,835

 

1,010

 

6.00%, 9/25/35

 

755,441

 

709

 

6.00%, 8/25/36

 

541,141

 

213

 

Residential Asset Mortgage Products Trust, 7.50%, 12/25/31, CMO

 

222,134

 

2,618

 

RBSSP Resecuritization Trust, 5.00%, 9/26/36, CMO (a) (d)

 

771,277

 

 

 

Structured Adjustable Rate Mortgage Loan Trust, CMO (i),

 

 

 

1,232

 

1.553%, 5/25/35

 

799,225

 

217

 

3.09%, 9/25/35

 

181,977

 

576

 

4.72%, 9/25/36

 

302,667

 

873

 

5.091%, 11/25/36

 

802,590

 

1,162

 

5.285%, 4/25/36

 

932,367

 

850