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

811-21417

 

AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

(Exact name of registrant as specified in charter)

 

1633 Broadway, New York, New York

 

10019

(Address of principal executive offices)

 

(Zip code)

 

Lawrence G. Altadonna — 1633 Broadway New York, New York 10019

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

212-739-3371

 

 

Date of fiscal year end:

January 31

 

 

Date of reporting period:

January 31, 2017

 

 



 

ITEM 1. REPORT TO SHAREHOLDERS

 

 

 

 

 

 

 

 

 

 

 


 

Table of Contents

 

2–3

 

Letter from the President

4–11

 

Fund Insights

12–14

 

Performance & Statistics

15–49

 

Schedules of Investments

50

 

Statements of Assets and Liabilities

51

 

Statements of Operations

52-53

 

Statements of Changes in Net Assets

54

 

Statement of Cash Flows

55–74

 

Notes to Financial Statements

75–77

 

Financial Highlights

78

 

Report of Independent Registered Public Accounting Firm

79

 

Tax Information

80-81

 

Annual Shareholder Meeting Results

82

 

Changes to the Board of Trustees/Proxy Voting Policies & Procedures

83–85

 

Privacy Policy

86–88

 

Dividend Reinvestment Plan

89–91

 

Board of Trustees

92

 

Fund Officers

 

January 31, 2017 | Annual Report 1


 

Letter from the President

 

Dear Shareholder:

 

The US economy continued to expand during the 12-month fiscal reporting period ended January 31, 2017, but the overall pace was far from robust. Economic activity overseas remained generally tepid. Against this backdrop, US equities generated strong results, but international equities generated mixed results. In addition, the US bond market posted a modest return during the 12-month period.

 

For the 12-month period ended January 31, 2017

 

¡  AllianzGI Diversified Income & Convertible Fund returned 26.01% on net asset value (“NAV”) and 32.56% on market price.

 

¡  AllianzGI Equity & Convertible Income Fund returned 16.35% on NAV and 21.69% on market price.

 

¡  AllianzGI NFJ Dividend, Interest & Premium Strategy Fund returned 17.62% on NAV and 24.60% on market price.

 

 Thomas J. Fuccillo

 President & Chief
 Executive Officer

 

During the 12-month period ended January 31, 2017, the Russell 3000 Index, a broad measure of US stock market performance, gained 21.73%; the Russell 1000 Value Index, a measure of large-cap value-style stocks, rose 24.62%; and the Russell 1000 Growth Index, a measure of growth-style stocks, gained 17.23%. Convertible securities, as reflected by the BofA Merrill Lynch All Convertibles Index, returned 20.82%.

 

Turning to the US economy, gross domestic product (“GDP”), the value of goods and services produced in the country, which is the broadest measure of economic activity and the principal indicator of economic performance, expanded at a 0.9% annualized pace during the first quarter of 2016. After ticking down to 0.8% in the second quarter, GDP grew at a 3.5% annualized pace during the third quarter. This represented the strongest expansion in two years. The Commerce Department’s second estimate showed that GDP grew at an annualized pace of 1.9% for the fourth quarter of 2016.

 

The US Federal Reserve (the “Fed”) raised interest rates for the first time in nearly a decade at its meeting in December 2015. More specifically, the Fed increased the federal funds rate from a range between 0% and 0.25% to a range between 0.25% and 0.50%. After remaining on hold at its first seven meetings in 2016, the Fed again raised interest rates in December 2016 to a range between 0.50% and 0.75%. In the statement following the December meeting the Fed said, “The Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.”

 

2 Annual Report | January 31, 2017


 

Outlook

 

Looking ahead, we believe investors should expect muted growth as the US enters its late-cycle period, Japan struggles with its aging population and Europe suffers from the uncertainties related to the approval by citizens of the United Kingdom, in June 2016, of a referendum to leave the European Union (“Brexit”). In our view, the US and European Union should ultimately avoid recessions, but remain mired in a relatively weak economic expansion. We expect the Fed to modestly increase rates in 2017, prompting central banks in emerging markets to lower their rates as inflation falls. Elsewhere, we expect the European Central Bank and Bank of Japan should maintain their accommodative monetary policies. We have passed peak global liquidity as central banks have pushed past negative interest rate policies to begin supporting government spending.

 

 

 

Receive this report electronically and eliminate paper mailings.

 

 

To enroll, visit:

us.allianzgi.com/edelivery.

 

 

The tides of deregulation continued shifting in 2016, and nationalism and populism gained ground. Given the results from the November elections in the US and significant elections looming in Europe in 2017, politics should remain a key investment consideration. We also feel that monetary policy will become more political. As to where governments will spend the money their central banks print, we believe domestic infrastructure and defense spending will be the focus of many countries in the coming years.

 

Against this backdrop, we believe markets are increasingly susceptible to volatility as politics, geopolitics, divergent monetary policies and internal market structures all converge and evolve. We believe that navigating this sea of uncertainty requires a clear direction and an active management approach, with investors staying agile in their asset allocations, confident in their processes and thorough in their research.

 

Together with, Allianz Global Investors U.S. LLC, the Funds’ investment manager, and NFJ Investment Group LLC, the sub-adviser to the AllianzGI NFJ Dividend, Interest & Premium Strategy Fund, we thank you for investing with us.

 

We remain dedicated to serving your investment needs.

 

 

 

Thomas J. Fuccillo

President & Chief Executive Officer

 

January 31, 2017 | Annual Report 3


 

Fund Insights

AllianzGI Diversified Income & Convertible Fund/AllianzGI Equity & Convertible Income Fund/AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

January 31, 2017 (unaudited)

 

 

AllianzGI Diversified Income & Convertible Fund

 

For the period of February 1, 2016 through January 31, 2017, as provided by Doug Forsyth, CFA, Portfolio Manager.

 

For the 12-month period ended January 31, 2017, the AllianzGI Diversified Income & Convertible Fund (the “Fund”) returned 26.01% on NAV and 32.56% on market price.

 

During the reporting period, the Russell 1000 Growth Index, a measure of growth style stocks, advanced 17.23%; and convertible securities, as reflected by the BofA Merrill Lynch All Convertibles Index, returned 20.82%.

 

Market Environment

Several factors influenced large-cap equities, convertibles and high-yield bonds throughout the period, including constructive economic trends, corporate health, the Treasury market and the Fed, US elections, risk appetite and commodity price strength.

 

In the US, economic reports were largely positive, signaling ongoing economic growth and supporting the market’s advance. Jobless claims remained subdued and the unemployment rate fell to a nine-year low. Housing prices continued to ascend, and in December, consumer confidence hit its highest level in more than 15 years. Overall, the trend in economic data reinforced the favorable market conditions for all three asset classes.

 

Operating performance for most equity, convertible and high-yield issuers met or exceeded expectations and credit metrics showed further improvement. According to Bank of America Merrill Lynch, net leverage ticked lower for a second consecutive quarter and interest coverage rose quarter over quarter. Furthermore, earnings before interest, tax, depreciation and amortization (“EDITDA”), far exceeded the gains reported in the second quarter, spiking dramatically (on a year-over-year percentage basis) in the third quarter. These statistics provided additional proof of the underlying fundamental strength of the convertible and high-yield bond markets as well as the large-cap equity space.

 

In addition to strong absolute returns, equities, convertible and high-yield bonds provided substantial diversification benefits, significantly outperforming core fixed income and US Treasuries. Additionally, the high-yield market responded positively to the Fed’s rate decision and commentary. On balance, a cautious Fed and a highly accommodative environment outside the US helped support the performance of risk assets over the period.

 

The unexpected election of Donald Trump as the US president triggered a rotation into risk assets, with investors fleeing safe-haven investments. Despite an initial negative reaction, the market rallied into year-end. It appeared that the then president-elect’s pro-growth agenda caused an abrupt shift in

 

4 Annual Report | January 31, 2017


 

Fund Insights

AllianzGI Diversified Income & Convertible Fund/AllianzGI Equity & Convertible Income Fund/AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

January 31, 2017 (unaudited) (continued)

 

 

sentiment, and without hesitation, investors anticipated a more favorable corporate earnings backdrop, predicated on positive tax reforms, decreased regulation, increased fiscal spending and less congressional gridlock. The Fund was a natural beneficiary of the increased appetite for risk, and this investor behavior was evident among the sub-asset class categories as well.

 

After bottoming in February, energy and base-metal prices stabilized, traded range-bound and then strengthened into year-end. Crude oil benefited from an agreement by the Organization of the Petroleum Countries (“OPEC”) to cut oil production and pledges of support from non-OPEC producers. Copper and other base-metals ended the reporting period higher. A more favorable economic backdrop and a continual improvement in industry dynamics helped support the energy and the materials-related industries, which were the best performers of 2016, in part due to their oversold conditions exiting 2015.

 

The Chicago Board Options Exchange Volatility Index (“VIX”) started the period spiking into the stock market’s 2016 lows in mid-February. It then moved lower with the recovery of equities before rising into the Brexit decision. After plummeting following the UK vote, volatility surged into the US elections. Following the elections, the VIX plunged into period-end.

 

Portfolio Specifics

The Fund was a natural beneficiary of the increased appetite for risk, both pre- and post-election, and was able to share in the strong capital appreciation across the three asset classes that compose the portfolio. In addition to providing a strong total return, the Fund also provided a high level of income over the reporting period.

 

In the equity sleeve, industrials, real estate and financials helped relative performance. Conversely, the consumer staples, energy and telecommunication services sectors hindered relative performance.

 

In the convertible sleeve, sectors that contributed positively to relative performance were financials, energy and consumer staples. On the other hand, technology, health care and industrials pressured relative performance.

 

In the high yield sleeve, industries that aided relative performance were diversified financial services, banking and utilities. In contrast, metals/mining ex steel, theaters and entertainment and energy hampered relative performance.

 

The covered call strategy captured fewer gains than anticipated. The covered calls did provide some capital gains for the portfolio, but with the depressed implied volatilities, the magnitude of the premiums faced headwinds.

 

January 31, 2017 | Annual Report 5


 

Fund Insights

AllianzGI Diversified Income & Convertible Fund/AllianzGI Equity & Convertible Income Fund/AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

January 31, 2017 (unaudited) (continued)

 

 

Outlook

Equity markets finished the year near all-time highs with volatility near all-time lows. In addition, interest rates moved higher on an improving economic outlook. Historically, these factors have been positive indicators for both economic and corporate earnings growth and supportive of investments in risk assets.

 

Stress in select industries has waned, and overall, balance sheets, leverage ratios and interest coverage ratios continue to support an investment in the high-yield and convertible asset classes.

 

The US economy is expected to expand at a moderate pace in 2017 and the equity market performance along with the steepness of the Treasury yield curve confirms this notion. Moreover, we believe that the President’s agenda should result in even stronger economic growth.

 

Regarding corporate health, profits are poised to trend higher in 2017 after accelerating into year-end. Additionally, the new administration’s policies could create the most favorable backdrop for corporate earnings in years.

 

US monetary policy continues to be modestly accommodative with the Fed expected to take a gradual approach toward adjustments. Until the Fed either moves aggressively or is well into the tightening cycle, monetary policy should not be expected to drive an extended sell-off and spread-widening in high-yield and convertibles.

 

AllianzGI Equity & Convertible Income Fund

 

For the period of February 1, 2016 through January 31, 2017, as provided by Doug Forsyth, CFA, Portfolio Manager.

 

For the 12-month period ended January 31, 2017, the AllianzGI Equity & Convertible Income Fund (the “Fund”) returned 16.35% on NAV and 21.69% on market price.

 

During the reporting period, the Russell 1000 Growth Index, a measure of growth style stocks, advanced 17.23%; and convertible securities, as reflected by the BofA Merrill Lynch All Convertibles Index, returned 20.82%.

 

Market Environment

Several factors influenced large-cap equities and convertibles throughout the reporting period, including constructive economic trends, corporate health, the Treasury market and the Fed, US elections, risk appetite and commodity price strength.

 

As widely expected, in December 2016, the Fed raised interest rates by 25 basis points to a range of 0.50% to 0.75%, citing a stronger economy and rising employment. This was the first increase in US interest rates since December 2015. At the outset of the reporting period, capital markets were facing a year of

 

6 Annual Report | January 31, 2017


 

Fund Insights

AllianzGI Diversified Income & Convertible Fund/AllianzGI Equity & Convertible Income Fund/AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

January 31, 2017 (unaudited) (continued)

 

 

heightened political risk. Despite US equities suffering the worst start to a calendar year in decades, investors were able to shrug off volatility and major US stock market indices, including the S&P 500, Dow Jones and NASDAQ, all rose to record highs towards the end of the period.

 

In the US, economic reports were largely positive, signaling ongoing economic growth and supporting the market’s advance. Jobless claims remained subdued and the unemployment rate fell to a nine-year low. Housing prices continued to ascend, and in December, consumer confidence hit its highest level in more than 15 years. Overall, the trend in economic data reinforced the favorable market conditions for equities and convertibles.

 

Operating performance for most equity and convertible issuers met or exceeded expectations and credit metrics showed further improvement. These developments provided additional proof of the underlying fundamental strength of the convertible market as well as the large-cap equity space.

 

In addition to strong absolute returns, equities and convertibles provided substantial diversification benefits, significantly outperforming core fixed income and US Treasuries. On balance, a cautious Fed and a highly accommodative environment outside the US helped support the performance of risk assets over the period.

 

The unexpected election of Donald Trump as the US president triggered a rotation into risk assets, with investors fleeing safe-haven investments. Despite an initial negative reaction, the market rallied into year-end. It appeared that the then president-elect’s pro-growth agenda caused an abrupt shift in sentiment, and without hesitation, investors anticipated a more favorable corporate earnings backdrop, predicated on positive tax reforms, decreased regulation, increased fiscal spending and less congressional gridlock. The Fund was a natural beneficiary of the increased appetite for risk, and this investor behavior was evident among the sub-asset class categories as well.

 

After bottoming in February, energy and base-metal prices stabilized, traded range-bound, and then strengthened into year-end. Crude oil benefited from an agreement by the OPEC to cut oil production and pledges of support from non-OPEC producers. Copper and other base-metals ended the reporting period higher. A more favorable economic backdrop and a continual improvement in industry dynamics helped support the energy and the materials-related industries, which were the best performers of 2016, in part due to their oversold conditions exiting 2015.

 

The VIX started the period spiking into the stock market’s 2016 lows in mid-February. It then moved lower with the recovery of equities before rising into the Brexit decision. After plummeting following the UK vote,

 

January 31, 2017 | Annual Report 7


 

Fund Insights

AllianzGI Diversified Income & Convertible Fund/AllianzGI Equity & Convertible Income Fund/AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

January 31, 2017 (unaudited) (continued)

 

 

volatility surged into the US elections. Following the elections, the VIX plunged into period-end.

 

During the latter half of the reporting period, the richly valued defensive stocks that tend to do well in times of economic uncertainty, reversed course and lagged in the second half of the reporting period. The laggards-to-leaders trend helped drive the emergence of value stocks during the reporting period after years of playing runner-up to growth. Helping to drive the Russell 1000 Value index’s performance was the cyclical turnaround of traditional value-oriented sectors such as energy, materials and financials, all of which were among top performers for most of 2016.

 

Portfolio Specifics

The Fund was a natural beneficiary of the increased appetite for risk, both pre- and post-election, and was able to share in the strong capital appreciation across the two asset classes that compose the portfolio. In addition to providing a strong total return, the Fund also provided a high level of income over the reporting period.

 

In the equity sleeve, information technology, industrials and real estate helped relative performance. Conversely, the consumer discretionary, consumer staples and telecommunication services sectors hindered relative performance.

 

In the convertible sleeve, sectors that contributed positively to relative performance were energy, materials and financials. On the other hand, technology, consumer discretionary and telecom pressured relative performance.

 

The covered call strategy captured fewer gains than anticipated. The covered calls did provide some capital gains for the portfolio, but with the depressed implied volatilities, the magnitude of the premiums faced headwinds.

 

Outlook

Equity markets finished the year near all-time highs with volatility near all-time lows. In addition, interest rates moved higher on an improving economic outlook. Historically, these factors have been positive indicators for both economic and corporate earnings growth and supportive of investments in risk assets.

 

Stress in select industries has waned, and overall, balance sheets, leverage ratios and interest coverage ratios continue to support an investment in the convertible asset class.

 

The US economy is expected to expand at a moderate pace in 2017 and the equity market performance and steepness of the Treasury yield curve confirms this notion. Moreover, we believe that the President’s agenda should result in even stronger economic growth.

 

Regarding corporate health, profits are poised to trend higher in 2017 after accelerating into year-end. Additionally, the new administration’s

 

8 Annual Report | January 31, 2017


 

Fund Insights

AllianzGI Diversified Income & Convertible Fund/AllianzGI Equity & Convertible Income Fund/AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

January 31, 2017 (unaudited) (continued)

 

 

policies could create the most favorable backdrop for corporate earnings in years.

 

US monetary policy continues to be modestly accommodative with the Fed expected to take a gradual approach toward adjustments. Until the Fed either moves aggressively or is well into the tightening cycle, monetary policy should not be expected to drive an extended sell-off and spread-widening.

 

AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

 

For the period of February 1, 2016 through January 31, 2017, as provided by the NFJ Investment Team.

 

For the 12-month period ended January 31, 2017, the AllianzGI NFJ Dividend, Interest & Premium Strategy Fund (the “Fund”) returned 17.62% on NAV and 24.60% on market price.

 

During the reporting period, the Russell 1000 Value Index, a measure of large-cap value style stocks, advanced 24.62%; and convertible securities, as reflected by the BofA Merrill Lynch All Convertibles Index, returned 20.82%.

 

Market Environment

Several factors influenced convertibles throughout the reporting period, including constructive economic trends, corporate health, the Treasury market and the Fed, US elections, risk appetite and commodity price strength.

 

At the outset of the reporting period, capital markets were facing a year of heightened political risk. Despite US equities suffering the worst start to a calendar year in decades, investors were able to shrug off volatility and major US stock market indices, including the S&P 500, Dow Jones and NASDAQ, all rose to record highs towards the end of the period.

 

As widely expected, in December 2016 the Fed raised interest rates by 25 basis points to a range of 0.50% to 0.75%, citing a stronger economy and rising employment. This was the first increase in US interest rates since December 2015.

 

In the US, economic reports were largely positive, signaling ongoing economic growth and supporting the market’s advance. Jobless claims remained subdued and the unemployment rate fell to a nine-year low. Housing prices continued to ascend, and in December, consumer confidence hit its highest level in more than 15 years. Overall, the trend in economic data reinforced the favorable market conditions for convertibles.

 

Operating performance for most convertible issuers met or exceeded expectations and credit metrics showed further improvement. These developments provided additional proof of the underlying fundamental strength of the convertible market.

 

In addition to strong absolute returns, convertibles provided substantial diversification

 

January 31, 2017 | Annual Report 9


 

Fund Insights

AllianzGI Diversified Income & Convertible Fund/AllianzGI Equity & Convertible Income Fund/AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

January 31, 2017 (unaudited) (continued)

 

 

benefits, significantly outperforming core fixed income and US Treasuries. On balance, a cautious Fed and a highly accommodative environment outside the US helped support the performance of risk assets over the period.

 

The unexpected election of Donald Trump as the US president triggered a rotation into risk assets with investors fleeing safe-haven investments. Despite an initial negative reaction, the market rallied into year-end. It appeared that the then president-elect’s pro-growth agenda caused an abrupt shift in sentiment, and without hesitation, investors anticipated a more favorable corporate earnings backdrop, predicated on positive tax reforms, decreased regulation, increased fiscal spending and less congressional gridlock. The Fund was a natural beneficiary of the increased appetite for risk, and this investor behavior was evident among the sub-asset class categories as well.

 

After bottoming in February, energy and base-metal prices stabilized, traded range – bound, and then strengthened into year-end. Crude oil benefited from an agreement by OPEC to cut oil production and pledges of support from non-OPEC producers. Copper and other base-metals ended the reporting period higher. A more favorable economic backdrop and a continual improvement in industry dynamics helped support the energy and the materials-related industries, which were the best performers of 2016, in part due to their oversold conditions exiting 2015.

 

Throughout the last few years, compression in longer-term treasury bonds has given way to higher valuation premiums in bond-proxies areas, like Real Estate Investment Trusts (“REITs”), utilities and consumer staples. During the latter half of the reporting period, those richly valued defensive stocks that tend to do well in times of economic uncertainty, reversed course and lagged. The laggards-to-leaders trend helped drive the emergence of value stocks during the reporting period after years of playing runner-up to growth. Helping to drive the Russell 1000 Value Index’s performance was the cyclical turnaround of traditional value-oriented sectors such as energy, materials and financials, all of which were among top performers for most of 2016.

 

Portfolio Specifics

In the equity sleeve negative stock selection, partially offset by positive sector allocation, detracted from relative returns during the trailing reporting period. Selection was strong across the industrials holdings which outpaced benchmark shares. However, that positive impact was overwhelmed by poor selection in the financials and energy sectors. Overweight positions in the telecommunications and consumer discretionary sectors dampened performance over the reporting period. Conversely, an overweight in materials and underweight in consumer staples aided relative results.

 

10 Annual Report | January 31, 2017


 

Fund Insights

AllianzGI Diversified Income & Convertible Fund/AllianzGI Equity & Convertible Income Fund/AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

January 31, 2017 (unaudited) (continued)

 

 

In the convertibles sleeve, sector allocations that helped relative performance in the period were energy, financials and consumer discretionary. In contrast, technology, telecommunications and healthcare exposure weighed on relative returns.

 

In the equity options sleeve, retaining call premiums proved difficult during the reporting period. The broad market remained at elevated levels to start the period, and then soared after the victory by Donald Trump in the US Presidential election. The charge higher was shouldered by the financial and technology sectors returning 22.5% and 10.5%, respectively, while the industrial, energy and material sectors also contributed with high single digit returns. Levels of implied volatility, as measured by the VIX, dropped to a low of 10.6 and only averaged a level of 13.4 during the period, adversely affecting the strike distances on the call options written. The overall strong performance in equities resulted in many of our option positions expiring in-the-money, requiring cash assignments in excess of the premium collected.

 

Outlook

Equity markets finished the year near all-time highs with volatility near all-time lows. In addition, interest rates moved higher on an improving economic outlook. Historically, these factors have been positive indicators for both economic and corporate earnings growth and supportive of investments in risk assets.

 

Stress in select industries of the market has waned, and overall, balance sheets, leverage ratios and interest coverage ratios continue to support an investment in the convertible asset class.

 

The US economy is expected to expand at a moderate pace in 2017 and the equity market performance and steepness of the Treasury yield curve confirms this notion. Moreover, we believe that the President’s agenda should result in even stronger economic growth.

 

Regarding corporate health, profits are poised to trend higher in 2017 after accelerating into year-end. Additionally, the new administration’s policies could create the most favorable backdrop for corporate earnings in years.

 

US monetary policy continues to be modestly accommodative with the Fed expected to take a gradual approach toward adjustments. Until the Fed either moves aggressively or is well into the tightening cycle, monetary policy should not be expected to drive an extended sell-off and spread-widening.

 

January 31, 2017 | Annual Report 11


 

Performance & Statistics

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (unaudited)

 

Total Return(1)

 

Market Price

 

NAV

1 Year

 

32.56

%

 

26.01

%

Commencement of Operations (5/27/15) to 1/31/17

 

-4.44

%

 

3.14

%

 

Market Price/NAV Performance

 

Market Price/NAV

 

 

Commencement of Operations (5/27/15) to 1/31/17

 

Market Price

 

$19.49

 

 

NAV(2)

 

$21.59

 NAV

 

Discount to NAV

 

-9.73%

 Market Price

 

Market Price Yield(3)

 

10.28%

 

Leverage Ratio(4)

 

32.12%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 dividends and 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 and includes the effect of any expense reductions, if any. 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) The NAV disclosed in the Fund’s financial statements may differ due to accounting principles generally accepted in the United States of America.

(3) Market Price Yield is determined by dividing the annualized current (declared February 1, 2017) monthly dividend per common share (comprised of net investment income and net capital gains, if any) by the market price per common share at January 31, 2017.

(4) Represents Mandatory Redeemable Preferred Shares, Senior Secured Notes and amounts drawn under the short-term margin loan facility (“Leverage”) outstanding, as a percentage of total managed assets. Total managed assets refer to total assets (including assets attributable to Leverage) minus liabilities (other than liabilities representing Leverage).

 

12 Annual Report | January 31, 2017


 

Performance & Statistics

AllianzGI Equity & Convertible Income Fund

January 31, 2017 (unaudited)

 

Total Return(1)

 

Market Price

 

NAV

1 Year

 

21.69

%

 

16.35

%

5 Year

 

9.73

%

 

9.02

%

Commencement of Operations (2/27/07) to 1/31/17

 

5.23

%

 

6.24

%

 

Market Price/NAV Performance

 

Market Price/NAV

 

 

Commencement of Operations (2/27/07) to 1/31/17

 

Market Price

 

$19.03

 

 

NAV(2)

 

$21.54

 NAV

 

Discount to NAV

 

-11.65%

 Market Price

 

Market Price Yield(3)

 

7.99%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 dividends and 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 and includes the effect of any expense reductions, if any. 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 less total liabilities divided by the number of shares outstanding. Holdings are subject to change daily.

(2) The NAV disclosed in the Fund’s financial statements may differ due to accounting principles generally accepted in the United States of America.

(3) Market Price Yield is determined by dividing the annualized current quarterly dividend per share (comprised of net investment income and net capital gains, if any) by the market price per share at January 31, 2017.

 

January 31, 2017 | Annual Report 13


 

Performance & Statistics

AllianzGI NFJ Dividend, Interest & Premium Strategy Fund

January 31, 2017 (unaudited)

 

Total Return(1)

 

Market Price

 

NAV

1 Year

 

24.60

%

 

17.62

%

5 Year

 

4.80

%

 

5.75

%

10 Year

 

2.38

%

 

3.02

%

Commencement of Operations (2/28/05) to 1/31/17

 

3.66

%

 

4.52

%

 

Market Price/NAV Performance

 

Market Price/NAV

 

 

Commencement of Operations (2/28/05) to 1/31/17

 

Market Price

 

$13.03

 

 

NAV(2)

 

$14.72

 NAV

 

Discount to NAV

 

-11.48%

 Market Price

 

Market Price Yield(3)

 

2.80%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 dividends and 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 and includes the effect of any expense reductions, if any. 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 less total liabilities divided by the number of shares outstanding. Holdings are subject to change daily.

(2) The NAV disclosed in the Fund’s financial statements may differ due to accounting principles generally accepted in the United States of America.

(3) Market Price Yield is determined by dividing the annualized current quarterly dividend per share (comprised of net investment income and net capital gains, if any) by the market price per share at January 31, 2017.

 

14 Annual Report | January 31, 2017


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017

 

 

 

 

 

 

Principal
Amount
(000s)

 

 

 

Value

 

Convertible Bonds & Notes (a) – 61.3%

 

 

 

 

 

Aerospace & Defense – 0.6%

 

 

 

$1,340

 

Aerojet Rocketdyne Holdings, Inc., 2.25%, 12/15/23 (b)(c)

 

$1,331,625

 

 

 

Automobiles – 1.8%

 

 

 

4,075

 

Tesla Motors, Inc., 0.25%, 3/1/19

 

3,950,203

 

 

 

Biotechnology – 3.3%

 

 

 

700

 

AMAG Pharmaceuticals, Inc., 2.50%, 2/15/19

 

787,937

 

 

 

BioMarin Pharmaceutical, Inc.,

 

 

 

820

 

0.75%, 10/15/18

 

949,150

 

760

 

1.50%, 10/15/20

 

919,600

 

715

 

Incyte Corp., 0.375%, 11/15/18

 

1,697,678

 

1,520

 

Ironwood Pharmaceuticals, Inc., 2.25%, 6/15/22

 

1,696,700

 

525

 

Ligand Pharmaceuticals, Inc., 0.75%, 8/15/19

 

786,516

 

325

 

Novavax, Inc., 3.75%, 2/1/23 (b)(c)

 

143,203

 

185

 

Synergy Pharmaceuticals, Inc., 7.50%, 11/1/19 (b)(c)

 

439,144

 

 

 

 

 

7,419,928

 

 

 

Communications Equipment – 1.4%

 

 

 

1,530

 

Finisar Corp., 0.50%, 12/15/36 (b)(c)

 

1,544,344

 

1,160

 

Palo Alto Networks, Inc., zero coupon, 7/1/19

 

1,660,975

 

 

 

 

 

3,205,319

 

 

 

Construction & Engineering – 1.5%

 

 

 

1,265

 

Dycom Industries, Inc., 0.75%, 9/15/21

 

1,382,013

 

1,550

 

Tutor Perini Corp., 2.875%, 6/15/21 (b)(c)

 

1,854,187

 

 

 

 

 

3,236,200

 

 

 

Consumer Finance – 0.3%

 

 

 

675

 

PRA Group, Inc., 3.00%, 8/1/20

 

645,891

 

 

 

Electrical Equipment – 0.8%

 

 

 

1,915

 

SolarCity Corp., 1.625%, 11/1/19

 

1,674,428

 

 

 

Energy Equipment & Services – 0.6%

 

 

 

1,320

 

Helix Energy Solutions Group, Inc., 4.25%, 5/1/22

 

1,371,150

 

 

 

Equity Real Estate Investment Trust – 0.1%

 

 

 

215

 

Spirit Realty Capital, Inc., 3.75%, 5/15/21

 

224,810

 

 

 

Health Care Equipment & Supplies – 3.8%

 

 

 

1,770

 

Hologic, Inc., 2.00%, 3/1/42 (d)

 

2,422,687

 

1,410

 

NuVasive, Inc., 2.25%, 3/15/21 (b)(c)

 

1,862,962

 

1,705

 

Spectranetics Corp., 2.625%, 6/1/34

 

1,825,416

 

800

 

Wright Medical Group, Inc., 2.00%, 2/15/20

 

872,500

 

1,135

 

Wright Medical Group NV, 2.25%, 11/15/21 (b)(c)

 

1,513,097

 

 

 

 

 

8,496,662

 

 

 

Health Care Products – 0.5%

 

 

 

1,010

 

Nevro Corp., 1.75%, 6/1/21

 

1,194,325

 

 

 

Health Care Providers & Services – 1.9%

 

 

 

685

 

Anthem, Inc., 2.75%, 10/15/42

 

1,458,194

 

1,515

 

Molina Healthcare, Inc., 1.625%, 8/15/44

 

1,764,975

 

705

 

Tivity Health, Inc., 1.50%, 7/1/18

 

984,356

 

 

 

 

 

4,207,525

 

 

January 31, 2017 | Annual Report 15

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

Principal
Amount
(000s)

 

 

 

Value

 

 

 

Health Care Technology – 0.5%

 

 

 

$1,040

 

Medidata Solutions, Inc., 1.00%, 8/1/18

 

$1,123,850

 

 

 

Household Durables – 0.5%

 

 

 

825

 

CalAtlantic Group, Inc., 1.625%, 5/15/18

 

1,007,016

 

 

 

Insurance – 0.8%

 

 

 

2,010

 

AmTrust Financial Services, Inc., 2.75%, 12/15/44

 

1,722,319

 

 

 

Internet & Direct Marketing Retail – 2.8%

 

 

 

1,390

 

Ctrip.com International Ltd., 1.00%, 7/1/20

 

1,470,794

 

2,585

 

Priceline Group, Inc., 0.35%, 6/15/20

 

3,455,822

 

1,360

 

Vipshop Holdings Ltd., 1.50%, 3/15/19

 

1,360,000

 

 

 

 

 

6,286,616

 

 

 

Internet Software & Services – 3.4%

 

 

 

1,635

 

Akamai Technologies, Inc., zero coupon, 2/15/19

 

1,716,758

 

1,120

 

Cornerstone OnDemand, Inc., 1.50%, 7/1/18

 

1,164,100

 

1,495

 

Gogo, Inc., 3.75%, 3/1/20

 

1,112,841

 

1,310

 

Pandora Media, Inc., 1.75%, 12/1/20

 

1,362,400

 

925

 

VeriSign, Inc., 4.485%, 8/15/37

 

2,169,125

 

 

 

 

 

7,525,224

 

 

 

IT Services – 3.4%

 

 

 

2,120

 

Blackhawk Network Holdings, Inc., 1.50%, 1/15/22 (b)(c)

 

2,138,550

 

1,275

 

Cardtronics, Inc., 1.00%, 12/1/20

 

1,510,875

 

1,715

 

CSG Systems International, Inc., 4.25%, 3/15/36 (b)(c)

 

1,907,937

 

1,640

 

Euronet Worldwide, Inc., 1.50%, 10/1/44

 

1,875,750

 

 

 

 

 

7,433,112

 

 

 

Life Sciences Tools & Services – 0.8%

 

 

 

1,700

 

Illumina, Inc., 0.50%, 6/15/21

 

1,757,375

 

 

 

Machinery – 0.5%

 

 

 

940

 

Trinity Industries, Inc., 3.875%, 6/1/36

 

1,182,637

 

 

 

Media – 4.5%

 

 

 

2,180

 

DISH Network Corp., 3.375%, 8/15/26 (b)(c)

 

2,557,413

 

2,350

 

Liberty Interactive LLC, 1.75%, 9/30/46 (b)(c)

 

2,648,156

 

1,140

 

Liberty Media Corp., 2.25%, 9/30/46 (b)(c)

 

1,224,075

 

1,500

 

Liberty Media Corp.-Liberty Formula One, 1.00%, 1/30/23 (b)(c)

 

1,530,938

 

1,915

 

Live Nation Entertainment, Inc., 2.50%, 5/15/19

 

2,083,759

 

 

 

 

 

10,044,341

 

 

 

Metals & Mining – 0.5%

 

 

 

75

 

Royal Gold, Inc., 2.875%, 6/15/19

 

82,125

 

965

 

RTI International Metals, Inc., 1.625%, 10/15/19

 

1,057,881

 

 

 

 

 

1,140,006

 

 

 

Oil, Gas & Consumable Fuels – 5.4%

 

 

 

1,240

 

Alon USA Energy, Inc., 3.00%, 9/15/18

 

1,322,925

 

2,820

 

Cheniere Energy, Inc., 4.25%, 3/15/45

 

1,870,012

 

890

 

Chesapeake Energy Corp., 5.50%, 9/15/26 (b)(c)

 

952,856

 

1,000

 

Ensco Jersey Finance Ltd., 3.00%, 1/31/24 (b)(c)

 

1,095,000

 

1,205

 

Nabors Industries, Inc., 0.75%, 1/15/24 (b)(c)

 

1,221,569

 

 

16 Annual Report | January 31, 2017

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

Principal
Amount
(000s)

 

 

 

Value

 

 

 

Oil, Gas & Consumable Fuels (continued)

 

 

 

$1,275

 

Oasis Petroleum, Inc., 2.625%, 9/15/23

 

$1,705,313

 

1,710

 

PDC Energy, Inc., 1.125%, 9/15/21

 

1,934,438

 

1,740

 

SM Energy Co., 1.50%, 7/1/21

 

1,906,387

 

 

 

 

 

12,008,500

 

 

 

Pharmaceuticals – 3.7%

 

 

 

1,290

 

ANI Pharmaceuticals, Inc., 3.00%, 12/1/19

 

1,510,106

 

650

 

Depomed, Inc., 2.50%, 9/1/21

 

745,875

 

1,360

 

Horizon Pharma Investment Ltd., 2.50%, 3/15/22

 

1,309,850

 

1,945

 

Impax Laboratories, Inc., 2.00%, 6/15/22

 

1,576,666

 

1,905

 

Medicines Co., 2.75%, 7/15/23 (b)(c)

 

1,922,859

 

960

 

Teva Pharmaceutical Finance Co. LLC, 0.25%, 2/1/26

 

1,021,800

 

 

 

 

 

8,087,156

 

 

 

Semiconductors & Semiconductor Equipment – 10.1%

 

 

 

1,375

 

Advanced Micro Devices, Inc., 2.125%, 9/1/26

 

2,060,781

 

1,650

 

Cypress Semiconductor Corp., 4.50%, 1/15/22 (b)(c)

 

1,905,750

 

1,740

 

Inphi Corp., 0.75%, 9/1/21 (b)(c)

 

1,884,638

 

55

 

Integrated Device Technology, Inc., 0.875%, 11/15/22

 

58,713

 

2,215

 

Intel Corp., 3.25%, 8/1/39

 

3,946,864

 

1,350

 

Lam Research Corp., 1.25%, 5/15/18

 

2,558,250

 

1,775

 

Microchip Technology, Inc., 1.625%, 2/15/25

 

2,412,891

 

2,980

 

Micron Technology, Inc., 3.00%, 11/15/43

 

3,063,812

 

1,100

 

NXP Semiconductors NV, 1.00%, 12/1/19

 

1,251,938

 

3,615

 

SunEdison, Inc., 3.375%, 6/1/25 (b)(c)(e)

 

86,037

 

 

 

SunPower Corp.,

 

 

 

1,115

 

0.875%, 6/1/21

 

798,618

 

1,035

 

4.00%, 1/15/23

 

756,844

 

1,380

 

Teradyne, Inc., 1.25%, 12/15/23 (b)(c)

 

1,564,575

 

 

 

 

 

22,349,711

 

 

 

Software – 5.8%

 

 

 

1,175

 

BroadSoft, Inc., 1.00%, 9/1/22

 

1,447,453

 

825

 

Nice Systems, Inc., 1.25%, 1/15/24 (b)(c)

 

883,781

 

 

 

Nuance Communications, Inc.,

 

 

 

955

 

1.00%, 12/15/35

 

892,328

 

975

 

1.50%, 11/1/35

 

974,391

 

1,370

 

Proofpoint, Inc., 0.75%, 6/15/20

 

1,644,856

 

955

 

Rovi Corp., 0.50%, 3/1/20

 

944,256

 

1,355

 

Salesforce.com, Inc., 0.25%, 4/1/18

 

1,715,769

 

1,405

 

ServiceNow, Inc., zero coupon, 11/1/18

 

1,871,285

 

1,040

 

Synchronoss Technologies, Inc., 0.75%, 8/15/19

 

1,090,050

 

1,515

 

Verint Systems, Inc., 1.50%, 6/1/21

 

1,440,197

 

 

 

 

 

12,904,366

 

 

 

Thrifts & Mortgage Finance – 1.1%

 

 

 

1,950

 

MGIC Investment Corp., 9.00%, 4/1/63 (b)(c)

 

2,524,031

 

 

 

Transportation Infrastructure – 0.9%

 

 

 

1,800

 

Macquarie Infrastructure Corp., 2.875%, 7/15/19

 

2,012,625

 

Total Convertible Bonds & Notes (cost-$148,505,969)

 

136,066,951

 

 

January 31, 2017 | Annual Report 17

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

 

Value

 

Common Stock – 35.5%

 

 

 

 

 

Aerospace & Defense – 0.9%

 

 

 

12,100

 

Boeing Co. (a)

 

$1,977,382

 

 

 

Auto Components – 0.1%

 

 

 

3,025

 

Adient PLC (a)(f)

 

192,057

 

 

 

Automobiles – 1.4%

 

 

 

168,976

 

Fiat Chrysler Automobiles NV (a)(f)

 

1,857,046

 

104,700

 

Ford Motor Co. (a)

 

1,294,092

 

 

 

 

 

3,151,138

 

 

 

Banks – 0.9%

 

 

 

36,000

 

Bank of America Corp. (a)

 

815,040

 

20,300

 

Wells Fargo & Co. (a)

 

1,143,499

 

 

 

 

 

1,958,539

 

 

 

Beverages – 1.2%

 

 

 

30,000

 

Coca-Cola Co. (a)

 

1,247,100

 

14,200

 

PepsiCo, Inc. (a)

 

1,473,676

 

 

 

 

 

2,720,776

 

 

 

Biotechnology – 2.9%

 

 

 

30,600

 

AbbVie, Inc. (a)

 

1,869,966

 

9,300

 

Amgen, Inc. (a)

 

1,457,124

 

4,200

 

Biogen, Inc. (a)(f)

 

1,164,408

 

18,600

 

Gilead Sciences, Inc. (a)

 

1,347,570

 

1,843

 

Regeneron Pharmaceuticals, Inc. (a)(f)

 

662,172

 

 

 

 

 

6,501,240

 

 

 

Building Products – 0.6%

 

 

 

30,252

 

Johnson Controls International PLC (a)

 

1,330,483

 

 

 

Chemicals – 0.8%

 

 

 

15,400

 

Monsanto Co. (a)

 

1,667,974

 

 

 

Communications Equipment – 0.4%

 

 

 

17,200

 

Qualcomm, Inc. (a)

 

918,996

 

 

 

Construction & Engineering – 0.4%

 

 

 

15,300

 

Fluor Corp. (a)

 

849,150

 

 

 

Diversified Telecommunications Services – 0.6%

 

 

 

25,100

 

Verizon Communications, Inc. (a)

 

1,230,151

 

 

 

Electronic Equipment, Instruments & Components – 0.6%

 

 

 

19,200

 

Amphenol Corp., Class A (a)

 

1,295,808

 

 

 

Energy Equipment & Services – 0.6%

 

 

 

15,000

 

Schlumberger Ltd. (a)

 

1,255,650

 

 

 

Food & Staples Retailing – 2.0%

 

 

 

8,400

 

Costco Wholesale Corp. (a)

 

1,377,180

 

37,600

 

Kroger Co. (a)

 

1,276,896

 

22,400

 

Walgreens Boots Alliance, Inc. (a)

 

1,835,456

 

 

 

 

 

4,489,532

 

 

18 Annual Report | January 31, 2017

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

 

Value

 

 

 

Health Care Equipment & Supplies – 0.5%

 

 

 

21,400

 

Baxter International, Inc. (a)

 

$1,025,274

 

 

 

Health Care Providers & Services – 1.4%

 

 

 

9,300

 

McKesson Corp. (a)

 

1,294,095

 

11,100

 

UnitedHealth Group, Inc. (a)

 

1,799,310

 

 

 

 

 

3,093,405

 

 

 

Hotels Restaurants & Leisure – 1.7%

 

 

 

12,100

 

McDonald’s Corp. (a)

 

1,483,097

 

14,100

 

MGM Resorts International (a)(f)

 

406,080

 

34,300

 

Starbucks Corp. (a)

 

1,894,046

 

 

 

 

 

3,783,223

 

 

 

Household Durables – 0.4%

 

 

 

20,000

 

Lennar Corp., Class A (a)

 

893,000

 

 

 

Household Products – 0.4%

 

 

 

11,100

 

Procter & Gamble Co. (a)

 

972,360

 

 

 

Industrial Conglomerates – 1.2%

 

 

 

9,200

 

3M Co. (a)

 

1,608,344

 

35,500

 

General Electric Co. (a)

 

1,054,350

 

 

 

 

 

2,662,694

 

 

 

Insurance – 0.6%

 

 

 

13,400

 

Prudential Financial, Inc. (a)

 

1,408,474

 

 

 

Internet & Direct Marketing Retail – 1.0%

 

 

 

2,700

 

Amazon.com, Inc. (a)(f)

 

2,223,396

 

 

 

Internet Software & Services – 2.5%

 

 

 

11,500

 

Alibaba Group Holding Ltd., ADR (a)(f)

 

1,165,065

 

2,700

 

Alphabet, Inc., Class A (a)(f)

 

2,214,513

 

16,400

 

Facebook, Inc., Class A (a)(f)

 

2,137,248

 

 

 

 

 

5,516,826

 

 

 

IT Services – 1.3%

 

 

 

7,400

 

International Business Machines Corp. (a)

 

1,291,448

 

18,000

 

Visa, Inc., Class A (a)

 

1,488,780

 

 

 

 

 

2,780,228

 

 

 

Machinery – 1.1%

 

 

 

16,000

 

AGCO Corp. (a)

 

1,004,800

 

9,500

 

Deere & Co. (a)

 

1,016,975

 

12,200

 

Joy Global, Inc. (a)

 

343,064

 

 

 

 

 

2,364,839

 

 

 

Media – 1.9%

 

 

 

29,200

 

Comcast Corp., Class A (a)

 

2,202,264

 

13,573

 

LiveStyle, Inc. (f)(g)(h)

 

1

 

18,700

 

The Walt Disney Co. (a)

 

2,069,155

 

 

 

 

 

4,271,420

 

 

 

Multiline Retail – 0.7%

 

 

 

25,100

 

Target Corp. (a)

 

1,618,448

 

 

January 31, 2017 | Annual Report 19

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

 

Value

 

 

 

Oil, Gas & Consumable Fuels – 0.7%

 

 

 

8,100

 

Occidental Petroleum Corp. (a)

 

$548,937

 

2,210

 

Southwestern Energy Co. (a)(f)

 

19,912

 

15,200

 

Valero Energy Corp. (a)

 

999,552

 

 

 

 

 

1,568,401

 

 

 

Pharmaceuticals – 0.4%

 

 

 

20,300

 

Bristol-Myers Squibb Co. (a)

 

997,948

 

 

 

Road & Rail – 0.8%

 

 

 

17,300

 

Union Pacific Corp. (a)

 

1,843,834

 

 

 

Semiconductors & Semiconductor Equipment – 1.6%

 

 

 

48,300

 

Intel Corp. (a)

 

1,778,406

 

23,200

 

Texas Instruments, Inc. (a)

 

1,752,528

 

 

 

 

 

3,530,934

 

 

 

Software – 1.9%

 

 

 

36,500

 

Microsoft Corp. (a)

 

2,359,725

 

47,000

 

Oracle Corp. (a)

 

1,885,170

 

 

 

 

 

4,244,895

 

 

 

Specialty Retail – 0.8%

 

 

 

12,300

 

Home Depot, Inc. (a)

 

1,692,234

 

 

 

Technology Hardware, Storage & Peripherals – 1.2%

 

 

 

22,200

 

Apple, Inc. (a)

 

2,693,970

 

Total Common Stock (cost-$85,757,673)

 

78,724,679

 

 

 

 

 

 

 

Principal
Amount
(000s)

 

 

 

 

 

Corporate Bonds & Notes – 34.5%

 

 

 

 

 

Aerospace & Defense – 1.1%

 

 

 

$1,000

 

KLX, Inc., 5.875%, 12/1/22 (a)(b)(c)

 

1,051,250

 

435

 

Kratos Defense & Security Solutions, Inc., 7.00%, 5/15/19 (a)

 

425,213

 

1,000

 

TransDigm, Inc., 6.50%, 5/15/25 (a)

 

1,008,750

 

 

 

 

 

2,485,213

 

 

 

Air Freight & Logistics – 0.1%

 

 

 

200

 

XPO Logistics, Inc., 6.50%, 6/15/22 (a)(b)(c)

 

209,500

 

 

 

Banks – 0.4%

 

 

 

160

 

CIT Group, Inc., 5.00%, 8/15/22 (a)

 

168,000

 

680

 

Royal Bank of Scotland Group PLC, 5.125%, 5/28/24 (a)

 

678,998

 

 

 

 

 

846,998

 

 

 

Building Products – 0.3%

 

 

 

565

 

Builders FirstSource, Inc., 5.625%, 9/1/24 (a)(b)(c)

 

582,656

 

 

 

Chemicals – 1.2%

 

 

 

1,000

 

Chemours Co., 7.00%, 5/15/25 (a)

 

1,001,500

 

1,000

 

Platform Specialty Products Corp., 6.50%, 2/1/22 (a)(b)(c)

 

1,025,625

 

235

 

Tronox Finance LLC, 7.50%, 3/15/22 (a)(b)(c)

 

230,300

 

365

 

Univar USA, Inc., 6.75%, 7/15/23 (a)(b)(c)

 

381,425

 

 

 

 

 

2,638,850

 

 

20 Annual Report | January 31, 2017

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

Principal
Amount
(000s)

 

 

 

Value

 

 

 

Commercial Services – 0.9%

 

 

 

 

 

Cenveo Corp. (a)(b)(c),

 

 

 

$205

 

6.00%, 8/1/19

 

$183,475

 

350

 

6.00%, 5/15/24

 

315,000

 

500

 

Harland Clarke Holdings Corp., 9.25%, 3/1/21 (a)(b)(c)

 

460,625

 

1,000

 

United Rentals North America, Inc., 5.50%, 7/15/25 (a)

 

1,041,250

 

 

 

 

 

2,000,350

 

 

 

Commercial Services & Supplies – 0.8%

 

 

 

915

 

RR Donnelley & Sons Co., 6.00%, 4/1/24 (a)

 

873,825

 

1,000

 

West Corp., 5.375%, 7/15/22 (a)(b)(c)

 

966,250

 

 

 

 

 

1,840,075

 

 

 

Construction & Engineering – 0.2%

 

 

 

500

 

AECOM, 5.875%, 10/15/24 (a)

 

541,250

 

 

 

Consumer Finance – 0.9%

 

 

 

1,000

 

Navient Corp., 8.45%, 6/15/18 (a)

 

1,067,100

 

1,000

 

Springleaf Finance Corp., 6.90%, 12/15/17 (a)

 

1,032,500

 

 

 

 

 

2,099,600

 

 

 

Diversified Financial Services – 1.6%

 

 

 

1,500

 

Community Choice Financial, Inc., 10.75%, 5/1/19 (a)

 

1,222,500

 

1,000

 

International Lease Finance Corp., 8.25%, 12/15/20 (a)

 

1,182,340

 

1,000

 

Nationstar Mortgage LLC / Nationstar Capital Corp., 7.875%, 10/1/20 (a)

 

1,045,000

 

 

 

 

 

3,449,840

 

 

 

Diversified Telecommunications Services – 0.5%

 

 

 

290

 

Cincinnati Bell, Inc., 7.00%, 7/15/24 (a)(b)(c)

 

307,038

 

700

 

Frontier Communications Corp., 10.50%, 9/15/22 (a)

 

734,562

 

 

 

 

 

1,041,600

 

 

 

Electric – 0.4%

 

 

 

1,000

 

Talen Energy Supply LLC, 6.50%, 6/1/25 (a)

 

812,500

 

 

 

Electronic Equipment, Instruments & Components – 0.3%

 

 

 

500

 

Kemet Corp., 10.50%, 5/1/18 (a)

 

501,562

 

250

 

Zebra Technologies Corp., 7.25%, 10/15/22 (a)

 

270,625

 

 

 

 

 

772,187

 

 

 

Energy-Alternate Sources – 0.5%

 

 

 

1,000

 

TerraForm Power Operating LLC, 6.375%, 2/1/23 (a)(b)(c)(d)

 

1,032,500

 

 

 

Entertainment – 0.3%

 

 

 

750

 

Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp., 5.375%, 6/1/24 (a)

 

776,250

 

 

 

Equity Real Estate Investment Trust – 0.9%

 

 

 

360

 

Communications Sales & Leasing, Inc. / CSL Capital LLC, 8.25%, 10/15/23 (a)

 

392,400

 

500

 

Equinix, Inc., 5.375%, 1/1/22 (a)

 

531,250

 

1,000

 

Kennedy-Wilson, Inc., 5.875%, 4/1/24 (a)

 

1,036,600

 

 

 

 

 

1,960,250

 

 

 

Food & Staples Retailing – 0.5%

 

 

 

170

 

Albertsons Cos LLC / Safeway, Inc. / New Albertson’s, Inc. / Albertson’s LLC, 6.625%, 6/15/24 (a)(b)(c)

 

177,599

 

 

January 31, 2017 | Annual Report 21

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

Principal
Amount
(000s)

 

 

 

Value

 

 

 

Food & Staples Retailing (continued)

 

 

 

$85

 

Lamb Weston Holdings, Inc., 4.875%, 11/1/26 (a)(b)(c)

 

$85,319

 

1,000

 

SUPERVALU, Inc., 6.75%, 6/1/21 (a)

 

1,002,500

 

 

 

 

 

1,265,418

 

 

 

Forest Products & Paper – 0.3%

 

 

 

525

 

Mercer International, Inc., 7.75%, 12/1/22 (a)

 

564,375

 

 

 

Health Care Equipment & Supplies – 0.2%

 

 

 

360

 

Hologic, Inc., 5.25%, 7/15/22 (a)(b)(c)

 

376,650

 

 

 

Health Care Products – 0.3%

 

 

 

620

 

Kinetic Concepts, Inc. / KCI USA, Inc., 9.625%, 10/1/21 (a)(b)(c)

 

665,415

 

 

 

Health Care Providers & Services – 1.1%

 

 

 

310

 

DaVita HealthCare Partners, Inc., 5.125%, 7/15/24 (a)

 

307,675

 

185

 

Envision Healthcare Corp., 6.25%, 12/1/24 (a)(b)(c)

 

195,175

 

1,000

 

Kindred Healthcare, Inc., 8.75%, 1/15/23 (a)

 

913,750

 

1,000

 

Tenet Healthcare Corp., 8.125%, 4/1/22 (a)

 

1,015,000

 

 

 

 

 

2,431,600

 

 

 

Health Care Services – 0.8%

 

 

 

1,000

 

CHS/Community Health Systems, Inc., 6.875%, 2/1/22 (a)

 

735,000

 

1,000

 

HCA, Inc., 7.50%, 2/15/22 (a)

 

1,141,250

 

 

 

 

 

1,876,250

 

 

 

Hotels Restaurants & Leisure – 1.0%

 

 

 

1,000

 

International Game Technology PLC, 6.25%, 2/15/22 (a)(b)(c)

 

1,070,620

 

1,000

 

MGM Resorts International, 6.625%, 12/15/21 (a)

 

1,117,500

 

 

 

 

 

2,188,120

 

 

 

Household Durables – 0.9%

 

 

 

375

 

Beazer Homes USA, Inc., 8.75%, 3/15/22 (a)(b)(c)

 

408,750

 

500

 

Brookfield Residential Properties, Inc., 6.50%, 12/15/20 (a)(b)(c)

 

517,500

 

1,000

 

KB Home, 8.00%, 3/15/20 (a)

 

1,116,250

 

 

 

 

 

2,042,500

 

 

 

Independent Power & Renewable Electricity Producers – 0.5%

 

 

 

1,000

 

NRG Energy, Inc., 6.25%, 5/1/24 (a)

 

1,022,500

 

 

 

Internet Software & Services – 0.0%

 

 

 

90

 

Zayo Group LLC / Zayo Capital, Inc., 5.75%, 1/15/27 (a)(b)(c)

 

92,250

 

 

 

Iron/Steel – 0.1%

 

 

 

265

 

AK Steel Corp., 7.50%, 7/15/23 (a)

 

290,938

 

 

 

IT Services – 0.5%

 

 

 

1,000

 

Cardtronics, Inc., 5.125%, 8/1/22 (a)

 

1,020,000

 

 

 

Lodging – 0.5%

 

 

 

1,000

 

Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.50%, 3/1/25 (a)(b)(c)

 

1,005,000

 

 

 

Machinery – 1.0%

 

 

 

1,000

 

BlueLine Rental Finance Corp., 7.00%, 2/1/19 (a)(b)(c)

 

992,500

 

940

 

Commercial Vehicle Group, Inc., 7.875%, 4/15/19 (a)

 

949,400

 

360

 

Terex Corp., 5.625%, 2/1/25 (a)(b)(c)

 

368,118

 

 

 

 

 

2,310,018

 

 

22 Annual Report | January 31, 2017

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

Principal
Amount
(000s)

 

 

 

Value

 

 

 

Media – 2.5%

 

 

 

$1,000

 

Cablevision Systems Corp., 8.00%, 4/15/20 (a)

 

$1,107,700

 

 

 

CCO Holdings LLC / CCO Holdings Capital Corp.,

 

 

 

125

 

5.125%, 5/1/27 (b)(c)

 

127,344

 

500

 

5.75%, 1/15/24 (a)

 

526,250

 

1,000

 

Clear Channel Worldwide Holdings, Inc., 6.50%, 11/15/22 (a)

 

1,049,000

 

425

 

CSC Holdings LLC, 6.75%, 11/15/21 (a)

 

462,612

 

750

 

DISH DBS Corp., 5.875%, 7/15/22 (a)

 

781,500

 

500

 

LIN Television Corp., 5.875%, 11/15/22 (a)

 

512,500

 

1,000

 

Mediacom Broadband LLC / Mediacom Broadband Corp., 6.375%, 4/1/23 (a)

 

1,052,500

 

 

 

 

 

5,619,406

 

 

 

Metals & Mining – 1.4%

 

 

 

305

 

Alcoa Nederland Holding BV, 6.75%, 9/30/24 (a)(b)(c)

 

331,688

 

1,000

 

ArcelorMittal, 10.85%, 6/1/19 (a)

 

1,178,750

 

560

 

Freeport-McMoRan, Inc., 3.55%, 3/1/22 (a)

 

526,400

 

 

 

HudBay Minerals, Inc. (a)(b)(c),

 

 

 

80

 

7.25%, 1/15/23

 

85,000

 

270

 

7.625%, 1/15/25

 

290,250

 

545

 

United States Steel Corp., 8.375%, 7/1/21 (a)(b)(c)

 

606,312

 

 

 

 

 

3,018,400

 

 

 

Miscellaneous Manufactureres – 0.1%

 

 

 

235

 

Koppers, Inc., 6.00%, 2/15/25 (a)(b)(c)

 

243,813

 

 

 

Multiline Retail – 0.2%

 

 

 

500

 

Dollar Tree, Inc., 5.75%, 3/1/23 (a)

 

530,750

 

 

 

Oil & Gas – 1.6%

 

 

 

1,000

 

BreitBurn Energy Partners LP / BreitBurn Finance Corp., 8.625%, 10/15/20 (a)(e)

 

745,000

 

560

 

Calumet Specialty Products Partners LP / Calumet Finance Corp., 6.50%, 4/15/21 (a)

 

487,200

 

1,000

 

CVR Refining LLC / Coffeyville Finance, Inc., 6.50%, 11/1/22 (a)

 

1,015,000

 

1,000

 

Sunoco LP / Sunoco Finance Corp., 6.375%, 4/1/23 (a)

 

1,031,500

 

165

 

Weatherford International Ltd., 8.25%, 6/15/23 (a)

 

168,712

 

 

 

 

 

3,447,412

 

 

 

Oil, Gas & Consumable Fuels – 3.3%

 

 

 

250

 

Callon Petroleum Co., 6.125%, 10/1/24 (a)(b)(c)

 

265,937

 

1,000

 

Carrizo Oil & Gas, Inc., 6.25%, 4/15/23 (a)

 

1,031,250

 

1,000

 

Chesapeake Energy Corp., 6.625%, 8/15/20 (a)

 

1,010,000

 

2,030

 

Cobalt International Energy, Inc., 10.75%, 12/1/21 (a)(b)(c)

 

1,928,500

 

1,000

 

Energy Transfer Equity LP, 5.875%, 1/15/24 (a)

 

1,072,500

 

1,000

 

Rice Energy, Inc., 6.25%, 5/1/22 (a)

 

1,042,500

 

1,000

 

Sanchez Energy Corp., 6.125%, 1/15/23 (a)

 

965,000

 

 

 

 

 

7,315,687

 

 

 

Pharmaceuticals – 1.0%

 

 

 

615

 

Endo Finance LLC / Endo Finco, Inc., 5.375%, 1/15/23 (a)(b)(c)

 

518,138

 

1,000

 

Horizon Pharma, Inc., 6.625%, 5/1/23 (a)

 

970,000

 

1,000

 

Valeant Pharmaceuticals International, Inc., 6.125%, 4/15/25 (a)(b)(c)

 

752,500

 

 

 

 

 

2,240,638

 

 

January 31, 2017 | Annual Report 23

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

Principal
Amount
(000s)

 

 

 

Value

 

 

 

Pipelines – 0.5%

 

 

 

$1,000

 

Sabine Pass Liquefaction LLC, 5.75%, 5/15/24 (a)

 

$1,093,750

 

 

 

Retail – 0.3%

 

 

 

1,000

 

Neiman Marcus Group Ltd. LLC, 8.00%, 10/15/21 (a)(b)(c)

 

625,000

 

 

 

Semiconductors – 0.2%

 

 

 

400

 

Sensata Technologies BV, 5.625%, 11/1/24 (a)(b)(c)

 

421,248

 

 

 

Semiconductors & Semiconductor Equipment – 1.2%

 

 

 

1,000

 

Amkor Technology, Inc., 6.375%, 10/1/22 (a)

 

1,041,250

 

1,000

 

Micron Technology, Inc., 5.875%, 2/15/22 (a)

 

1,043,120

 

500

 

Qorvo, Inc., 7.00%, 12/1/25 (a)

 

555,000

 

 

 

 

 

2,639,370

 

 

 

Software – 0.3%

 

 

 

340

 

Camelot Finance S.A., 7.875%, 10/15/24 (a)(b)(c)

 

360,400

 

290

 

SS&C Technologies Holdings, Inc., 5.875%, 7/15/23 (a)

 

303,050

 

 

 

 

 

663,450

 

 

 

Technology Hardware, Storage & Peripherals – 0.4%

 

 

 

520

 

Diamond 1 Finance Corp. / Diamond 2 Finance Corp., 7.125%, 6/15/24 (a)(b)(c)

 

569,636

 

310

 

Western Digital Corp., 10.50%, 4/1/24 (a)(b)(c)

 

366,187

 

 

 

 

 

935,823

 

 

 

Telecommunications – 2.9%

 

 

 

1,000

 

Consolidated Communications, Inc., 6.50%, 10/1/22 (a)

 

1,007,500

 

1,000

 

Hughes Satellite Systems Corp., 7.625%, 6/15/21 (a)

 

1,104,490

 

1,000

 

Intelsat Jackson Holdings S.A., 7.25%, 4/1/19 (a)

 

864,375

 

500

 

Level 3 Financing, Inc., 5.375%, 5/1/25 (a)

 

511,565

 

1,000

 

Sprint Communications, Inc., 6.00%, 11/15/22 (a)

 

1,020,000

 

1,000

 

T-Mobile USA, Inc., 6.836%, 4/28/23 (a)

 

1,070,000

 

1,000

 

Windstream Services LLC, 7.50%, 6/1/22 (a)

 

972,500

 

 

 

 

 

6,550,430

 

 

 

Trading Companies & Distributors – 0.5%

 

 

 

1,000

 

H&E Equipment Services, Inc., 7.00%, 9/1/22 (a)

 

1,058,760

 

Total Corporate Bonds & Notes (cost-$77,168,849)

 

76,644,590

 

 

 

 

 

 

 

Shares

 

 

 

 

 

Convertible Preferred Stock (a) – 12.3%

 

 

 

 

 

Commercial Services & Supplies – 0.7%

 

 

 

23,485

 

Stericycle, Inc., 5.25%, 9/15/18

 

1,534,040

 

 

 

Diversified Telecommunications Services – 0.8%

 

 

 

24,375

 

Frontier Communications Corp., 11.125%, 6/29/18

 

1,782,056

 

 

 

Electrical Components & Equipment – 0.9%

 

 

 

18,290

 

Belden, Inc., 6.75%, 7/15/19

 

1,958,127

 

 

 

Equity Real Estate Investment Trust – 1.0%

 

 

 

22,950

 

American Tower Corp., 5.50%, 2/15/18

 

2,314,049

 

 

 

Financial Services – 0.9%

 

 

 

16,170

 

Mandatory Exchangeable Trust, 5.75%, 6/3/19 (b)(c)

 

1,998,046

 

 

24 Annual Report | January 31, 2017

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

 

Value

 

 

 

Food Products – 1.4%

 

 

 

5,000

 

Bunge Ltd., 4.875% (i)

 

$499,375

 

12,105

 

Post Holdings, Inc., 5.25%, 6/1/17

 

1,757,706

 

10,630

 

Tyson Foods, Inc., 4.75%, 7/15/17

 

724,541

 

 

 

 

 

2,981,622

 

 

 

Health Care Providers & Services – 2.2%

 

 

 

72,540

 

Anthem, Inc., 5.25%, 5/1/18

 

3,513,838

 

11,480

 

Envision Healthcare Corp., 5.25%, 7/1/17

 

1,455,664

 

 

 

 

 

4,969,502

 

 

 

Independent Power & Renewable Electricity Producers – 0.2%

 

 

 

6,130

 

Dynegy, Inc., 7.00%, 7/1/19

 

411,813

 

 

 

Oil, Gas & Consumable Fuels – 0.9%

 

 

 

20,135

 

Hess Corp., 8.00%, 2/1/19

 

1,298,506

 

27,685

 

Southwestern Energy Co., 6.25%, 1/15/18

 

612,669

 

 

 

 

 

1,911,175

 

 

 

Pharmaceuticals – 2.4%

 

 

 

4,870

 

Allergan PLC, 5.50%, 3/1/18

 

3,854,556

 

2,310

 

Teva Pharmaceutical Industries Ltd., 7.00%, 12/15/18

 

1,407,368

 

 

 

 

 

5,261,924

 

 

 

Wireless Telecommunication Services – 0.9%

 

 

 

20,440

 

T-Mobile US, Inc., 5.50%, 12/15/17

 

2,088,151

 

Total Convertible Preferred Stock (cost-$33,756,135)

 

27,210,505

 

Preferred Stock (f)(g)(h) – 0.5%

 

 

 

 

 

Media – 0.5%

 

 

 

1,248

 

LiveStyle, Inc., Ser. A

 

124,800

 

11,496

 

LiveStyle, Inc., Ser. B

 

1,040,273

 

1,250

 

LiveStyle, Inc., Ser. B

 

13

 

Total Preferred Stock (cost-$2,499,840)

 

1,165,086

 

 

 

 

 

 

 

Units

 

 

 

 

 

Warrants (f)(g)(h) – 0.0%

 

 

 

 

 

Commercial Services – 0.0%

 

 

 

37,000

 

Cenveo Corp., strike price $12.00, expires 6/10/24 (a)

 

10,634

 

 

 

Media – 0.0%

 

 

 

3,000

 

LiveStyle, Inc., Ser. C, expires 11/30/21

 

 

Total Warrants (cost-$10,114)

 

10,634

 

 

 

 

 

 

 

Principal
Amount
(000s)

 

 

 

 

 

Short-Term Investment – 2.8%

 

 

 

 

 

Time Deposit – 2.8%

 

 

 

$6,168

 

ANZ National Bank-London, 0.29%, 2/1/17 (cost-$6,167,733)

 

6,167,733

 

Total Investments, before call options written
(cost-$353,866,313) – 146.9%

 

325,990,178

 

 

January 31, 2017 | Annual Report 25

 


 

Schedule of Investments

AllianzGI Diversified Income & Convertible Fund

January 31, 2017 (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

 

 

Value

 

Call Options Written (f) – (0.0)%

 

 

 

 

 

3M Co., (CBOE),

 

 

 

55

 

strike price $185, expires 2/17/17

 

$(275

)

 

 

AGCO Corp., (CBOE),

 

 

 

80

 

strike price $65, expires 2/17/17

 

(5,800

)

 

 

Alibaba Group Holding Ltd., (CBOE),

 

 

 

80

 

strike price $105, expires 2/17/17

 

(6,440

)

 

 

Alphabet, Inc., (CBOE),

 

 

 

15

 

strike price $910, expires 2/17/17

 

(338

)

 

 

Amazon.com, Inc., (ASE),

 

 

 

16

 

strike price $900, expires 2/17/17

 

(4,848

)

 

 

Apple, Inc., (ASE),

 

 

 

30

 

strike price $130, expires 2/17/17

 

(555

)

 

 

Bank of America Co., (ASE),

 

 

 

180

 

strike price $25, expires 3/17/17

 

(2,160

)

 

 

Baxter International, Inc., (ASE),

 

 

 

110

 

strike price $49.50, expires 2/17/17

 

(2,860

)

 

 

Boeing Co., (CBOE),

 

 

 

65

 

strike price $170, expires 2/17/17

 

(1,950

)

 

 

Comcast Corp., (CBOE),

 

 

 

150

 

strike price $77.50, expires 2/17/17

 

(4,575

)

 

 

Deere & Co., (CBOE),

 

 

 

60

 

strike price $115, expires 2/17/17

 

(3,000

)

 

 

Facebook, Inc., (ASE),

 

 

 

100

 

strike price $140, expires 2/17/17

 

(7,600

)

 

 

Home Depot, Inc., (ASE),

 

 

 

60

 

strike price $143, expires 2/17/17

 

(1,350

)

 

 

Intel Corp., (CBOE),

 

 

 

145

 

strike price $38.50, expires 2/17/17