OMB APPROVAL
OMB Number: 3235-0578
Expires: April 30, 2010
Estimated average burden
hours per response: 10.5


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act File Number: 811-22067

Registrant Name: Nicholas–Applegate Global Equity & Convertible Income Fund

Address of Principal Executive Offices: 1345 Avenue of the Americas New York, New York 10105

Name and Address of Agent for Service: Lawrence G. Altadonna – 1345 Avenue of the Americas
New York, New York 10105

Registrant’s telephone number, including area code: 212-739-3371

Date of Fiscal Year End: August 31, 2008

Date of Reporting Period: May 31, 2008

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)

Shares
       
Value*
 
 COMMON STOCK—64.8%        
              Australia — 2.6%        
            Airlines—0.3%        
           152,554           Qantas Airways Ltd.     $505,354   
 
            Banking—0.5%        
19,579           Commonwealth Bank of Australia                                     791,045  
 
            Engineering & Construction—0.5%        
14,173           Leighton Holdings Ltd.     721,823  
 
            Financial Services—0.2%        
139,994           Challenger Financial Services Group Ltd.     264,873  
 
            Metals & Mining—0.7%        
13,924           BHP Billiton Ltd.     583,976  
58,602           OneSteel Ltd.     403,662  
          987,638  
            Pharmaceuticals—0.4%        
17,462           CSL Ltd.     663,216  
 
    Austria—0.2%        
            Building Materials—0.1%        
3,027           Wienerberger AG     160,142  
 
            Metals & Mining—0.1%        
2,316           Voestalpine AG     192,841  
 
    Belgium—0.2%        
            Chemicals—0.2%        
5,374           Tessenderlo Chemie NV     293,332  
 
    Bermuda—1.2%        
            Apparel—0.2%        
19,500           Esprit Holdings Ltd.     228,312  
 
            Engineering & Construction—0.2%        
59,000           Cheung Kong Infrastructure Holdings Ltd.     238,827  
 
            Financial Services—0.8%        
31,249           Lazard Ltd.—Class A     1,190,265  
 
            Transportation—0.0%        
10,500           Orient Overseas International Ltd.     70,833  
 
    Canada—0.8%        
            Computer—0.8%        
9,100           Research In Motion Ltd. (a)     1,263,717  
 
    Cayman Islands—0.2%        
            Chemicals—0.1%        
30,500           Kingboard Chemical Holdings Ltd.     141,362  
 
            Paper/Paper Products—0.0%        
28,000           Lee & Man Paper Manufacturing Ltd.     58,468  
 
            Semiconductors—0.1%        
16,500           ASM Pacific Technology     130,755  
 
    Denmark—0.2%        
            Building/Construction—0.2%        
2,000           FLSmidth & Co. AS     239,390  
 
    Finland—0.2%        
            Food —0.1%        
4,984           Kesko Oyj     202,804  
 
            Telecommunications—0.1%        
7,353           Nokia Oyj     209,378  

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)

Shares        
Value*
 
    France—3.2%        
            Airlines—0.1%        
4,355           Air France-KLM     $116,247  
 
            Automotive—0.5%        
9,874           Peugeot S.A.                                     613,635   
1,838           Renault S.A.     188,504  
          802,139  
            Banking—0.6%        
4,922           BNP Paribas     507,082  
12,598           Credit Agricole S.A.     332,827  
          839,909  
            Home Furnishings—0.1%        
681           SEB S.A.     133,870  
 
            Machinery-Diversified—0.4%        
2,456           Alstom S.A.     618,184  
 
            Oil & Gas—0.5%        
8,490           Total S.A.     739,136  
 
            Telecommunications—1.0%        
47,233           France Telecom S.A.     1,435,649  
 
    Germany—2.6%        
            Airlines—0.4%        
23,665           Deutsche Lufthansa AG     612,074  
 
            Automotive—1.4%        
17,212           Daimler AG     1,307,086  
3,950           Porsche Automobil Holding SE     734,574  
          2,041,660  
 
            Chemicals—0.6%        
1,922           K&S AG     896,793  
 
            Electric—0.0%        
568           RWE AG     73,266  
 
            Metals & Mining—0.2%        
1,548           Salzgitter AG     303,091  
 
    Greece—0.2%        
            Banking—0.2%        
4,039           National Bank of Greece S.A.     228,371  
 
    Hong Kong—1.2%        
            Airlines—0.3%        
           197,000                     Cathay Pacific Airways Ltd.     414,371  
 
            Financial Services—0.1%        
8,000           Hong Kong Exchanges & Clearing Ltd.     137,728  
 
            Investment Company—0.4%        
56,000           Swire Pacific Ltd.—Class A     639,163  
 
            Real Estate—0.3%        
41,000           Hang Lung Group Ltd.     211,348  
118,000           New World Development Ltd.     297,083  
          508,431  
            Utilities—0.1%        
38,000           China Resources Power Holdings Co.     105,677  

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)

Shares        
Value*
 
    Ireland—0.3%        
            Banking—0.2%        
20,740           Anglo Irish Bank Corp. PLC     $264,650  
 
            Financial Services—0.1%        
9,738           Irish Life & Permanent PLC                                     169,069   
 
    Italy—0.9%        
            Energy—0.4%        
54,358           Enel SpA     610,579  
 
            Home Furnishings—0.1%        
14,735           Indesit Co. SpA     184,660  
 
            Utilities—0.4%        
13,395           ENI SpA     545,927  
 
    Japan—6.1%        
            Agriculture—0.1%        
16           Japan Tobacco, Inc.     77,538  
 
            Automotive—0.1%        
5,800           Tokai Rika Co., Ltd.     137,729  
 
            Banking—0.3%        
           169,000                     Hokuhoku Financial Group, Inc.     520,678  
 
            Electrical Components & Equipment—0.1%        
13,000           Toshiba Corp.     114,451  
 
            Electronics—0.4%        
5,500           Mitsumi Electric Co., Ltd.     159,503  
23,000           Nippon Chemi-Con Corp.     105,058  
14,000           Star Micronics Co., Ltd.     268,760  
          533,321  
            Financial Services—0.3%        
490           ORIX Corp.     92,483  
13,600           Promise Co., Ltd.     434,258  
          526,741  
            Home Furnishings—0.4%        
13,300           Sony Corp.     668,610  
 
            Leisure Products—0.3%        
7,900           Sankyo Co., Ltd.     505,186  
 
            Machinery-Diversified—0.1%        
4,700           Shima Seiki Manufacturing Ltd.     154,159  
 
            Manufacturing—0.4%        
3,500           FUJIFILM Holdings Corp.     129,521  
5,000           Glory Ltd.     117,412  
5,000           Nikon Corp.     159,178  
7,000           Olympus Corp.     228,243  
          634,354  
            Metals & Mining—0.4%        
4,300           JFE Holdings, Inc.     242,730  
43,000           Nippon Steel Corp.     268,427  
25,000           Sumitomo Metal Industries Ltd.     119,125  
          630,282  
            Pharmaceuticals—0.1%        
6,000           Chugai Pharmaceutical Co., Ltd.     93,703  
3,300           Daiichi Sankyo Co., Ltd.     93,019  
          186,722  
            Real Estate—0.1%        
2,000           Daito Trust Construction Co., Ltd.     102,848  
 
            Retail—0.0%        
3,000           Aoyama Trading Co., Ltd.     60,007  

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)

Shares        
Value*
 
            Telecommunications—0.3%        
50           KDDI Corp.     $346,463  
21           Nippon Telegraph & Telephone Corp.                                     101,711   
          448,174  
            Toys/Games/Hobbies—0.1%        
300           Nintendo Co., Ltd.     165,012  
 
            Transportation—1.0%        
17           East Japan Railway Co.     131,065  
            71,000                     Mitsui OSK Lines Ltd.     1,071,135  
32,000           Nippon Yusen KK     325,198  
          1,527,398  
 
            Wholesale—1.6%        
54,000           ITOCHU Corp.     624,464  
70,000           Marubeni Corp.     624,150  
26,000           Mitsui & Co., Ltd.     636,921  
36,900           Sumitomo Corp.     544,349  
          2,429,884  
    Luxembourg—0.2%        
            Metals & Mining—0.2%        
3,088           ArcelorMittal     305,385  
 
    Netherlands—1.2%        
            Insurance—0.4%        
14,541           ING Groep NV     554,640  
 
            Oil & Gas—0.8%        
11,800           Schlumberger Ltd. (b)     1,193,334  
 
    New Zealand — 0.1%        
            Building Materials—0.1%        
27,259           Fletcher Building Ltd.     170,868  
 
    Norway—0.5%        
            Chemicals—0.5%        
10,500           Yara International ASA     794,886  
 
            Oil & Gas—0.0%        
3,400           TGS Nopec Geophysical Co. ASA (a)     53,975  
 
    Singapore—0.8%        
            Airlines—0.3%        
40,000           Singapore Airlines Ltd.     466,220  
 
            Banking—0.2%        
36,000           Oversea-Chinese Banking Corp.     228,916  
 
            Electronics—0.1%        
26,000           Venture Corp Ltd.     190,857  
 
            Real Estate—0.1%        
71,000           Wing Tai Holdings Ltd.     94,723  
 
            Wholesale—0.1%        
17,000           Jardine Cycle & Carriage Ltd.     204,220  
 
    Spain—1.3%        
            Building/Construction—0.4%        
9,221           ACS Actividades de Construccion y Servicios S.A.     556,361  
2,822           Sacyr Vallehermoso S.A.     101,094  
          657,455  

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)

Shares        
Value*
 
            Telecommunications—0.9%        
            45,274                     Telefonica S.A.     $1,296,798  
 
    Sweden—1.4%        
            Banking—0.3%        
19,000           Nordea Bank AB                                     308,863   
4,200           Swedbank AB     103,826  
          412,689  
            Hand/Machine Tools—0.2%        
20,200           Sandvik AB     347,045  
 
            Home Furnishings—0.1%        
5,400           Electrolux AB     77,971  
 
            Machinery-Diversified—0.1%        
14,200           Volvo AB     225,035  
 
            Manufacturing—0.2%        
16,000           Trelleborg AB     298,806  
 
            Retail—0.5%        
13,200           Hennes & Mauritz AB     729,848  
 
    Switzerland—1.1%        
            Financial Service — 0.1%        
2,773           Credit Suisse Group     140,891  
 
            Insurance — 0.7%        
3,450           Zurich Financial Services AG     1,010,093  
 
            Pharmaceuticals — 0.2%        
5,878           Actelion Ltd. (a)     320,718  
 
            Retail — 0.1%        
656           Swatch Group AG     183,274  
 
   
United Kingdom—7.8%
       
            Agriculture — 0.4%        
14,650           British American Tobacco PLC     546,947  
 
            Banking—0.4%        
19,664           Barclays PLC     145,690  
72,326           GALIFORM PLC (a)     84,746  
17,896           Lloyds TSB Group PLC     135,950  
50,671           Royal Bank of Scotland Group PLC (a)     229,115  
          595,501  
            Commercial Services — 0.2%        
13,579           Aggreko PLC     162,388  
14,108           Michael Page International PLC     79,800  
          242,188  
            Food — 0.4%        
92,458           WM Morrison Supermarkets PLC     535,203  

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)

Shares        
Value*
 
            Insurance — 0.5%        
           253,484                     Old Mutual PLC                     $586,334  
45,432           Standard Life PLC                       225,600   
         
811,934
 
            Investment Company—0.2%        
9,470           Standard Chartered PLC     351,342  
             
            Manufacturing — 0.7%        
17,900           Charter PLC (a)     321,049  
49,614           Cookson Group PLC     716,406  
          1,037,455  
            Metals & Mining—1.9%        
6,416           Anglo American PLC     436,155  
36,554           BHP Billiton PLC     1,387,313  
5,372           Rio Tinto PLC (a)     644,589  
4,527           Xstrata PLC     357,366  
          2,825,423  
            Oil & Gas — 2.0%        
16,993           BG Group PLC     426,373  
            Royal Dutch Shell PLC        
16,201  
        Class A
    689,560  
45,399  
        Class B (b)
    1,892,167  
          3,008,100  
            Retail — 0.5%        
16,621           Game Group PLC     92,897  
26,858           Marks & Spencer Group PLC     201,983  
21,928           Next PLC     501,805  
          796,685  
            Telecommunications — 0.4%        
165,068           Vodafone Group PLC     528,796  
 
            Venture Capital — 0.2%        
17,856           3i Group PLC     312,648  
 
   
United States — 30.3%
       
            Aerospace/Defense — 0.7%        
10,300           L-3 Communications Holdings, Inc. (b)     1,106,117  
 
            Agriculture — 0.5%        
20,500           Archer-Daniels-Midland Co. (b)     813,850  
 
            Automotive — 0.7%        
31,200           Johnson Controls, Inc.     1,062,672  
 
            Beverages — 2.3%        
20,100           Coca-Cola Co.     1,150,926  
20,900           Molson Coors Brewing Co. (b)     1,212,200  
15,200           PepsiCo., Inc. (b)     1,038,160  
          3,401,286  
 
            Commercial Services — 0.8%        
21,900           McKesson Corp.     1,262,535  
 
            Computers — 1.4%        
51,700           EMC Corp. (a)     901,648  
9,300           International Business Machines Corp. (b)     1,203,699  
          2,105,347  
            Cosmetics/Personal Care — 0.7%        
16,500           Procter & Gamble Co.     1,089,825  
 
            Electric — 0.7%        
12,500           Constellation Energy Group, Inc.     1,077,875  
 
            Healthcare-Products — 1.5%        
19,000           Baxter International, Inc. (b)     1,160,900  
3,680           Intuitive Surgical, Inc. (a) (b)     1,080,411  
          2,241,311  
            Insurance — 1.2%        
23,000           Cigna Corp.     933,800  
12,700           Prudential Financial, Inc.     948,690  
          1,882,490  

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)

Shares            
Value*
 
                      Internet — 0.8%            
2000           Google, Inc. — Class A (a) (b)         $1,171,600  
 
            Machinery-Diversified — 1.5%            
18,700           AGCO Corp. (a)         1,130,041  
14,200           Deere & Co.         1,155,028  
              2,285,069  
            Manufacturing — 1.4%            
29,800           General Electric Co.                                         915,456   
20,200           Textron, Inc.         1,263,510  
              2,178,966  
 
            Media—0.7%            
29,919           DISH Network Corp. (a)         1,050,456  
 
            Metals & Mining—0.7%            
9,750           Freeport-McMoRan Copper & Gold, Inc. (b)         1,128,173  
 
            Oil & Gas — 2.5%            
9,700           Diamond Offshore Drilling, Inc. (b)         1,323,468  
17,200           National Oilwell Varco, Inc. (a) (b)         1,433,104  
18,800           Valero Energy Corp.         955,792  
              3,712,364  
            Pharmaceuticals — 3.7%            
23,100           Abbott Laboratories         1,301,685  
43,300           Bristol-Myers Squibb Co.         986,807  
22,800           Gilead Sciences, Inc. (a) (b)         1,261,296  
23,600           Medco Health Solutions, Inc. (a) (b)         1,143,420  
21,200           Merck & Co., Inc.         825,952  
              5,519,160  
            Retail — 1.5%            
21,900           McDonald's Corp. (b)         1,299,108  
19,500           Target Corp.         1,040,520  
              2,339,628  
            Semiconductors — 1.5%            
48,000           Intel Corp.         1,112,640  
33,900           Texas Instruments, Inc.         1,101,072  
              2,213,712  
            Software — 1.5%            
35,700           Microsoft Corp.         1,011,024  
57,800           Oracle Corp. (a) (b)         1,320,152  
              2,331,176  
            Telecommunications — 4.0%            
            44,800           Cisco Systems, Inc. (a) (b)         1,197,056  
5,984           EchoStar Corp.(a)         223,443  
21,200           Harris Corp. (b)         1,394,536  
34,200           Juniper Networks, Inc. (a)         941,184  
25,600           Qualcomm, Inc. (b)         1,242,624  
28,200           Verizon Communications, Inc.         1,084,854  
              6,083,697  
 
   
Total Common Stock (cost—$112,295,686)
        98,006,291  
 
 CONVERTIBLE PREFERRED STOCK—25.0%
           
Principal
               
Amount
      Credit Rating        
(000)
      (Moody's/S&P)        
            Agriculture — 1.0%            
$10           Bunge Ltd., 4.875%, 12/31/49   Ba1/BB     1,440,000  
 
            Automotive — 0.7%            
60           General Motors Corp., 6.25%, 7/15/33, Ser. C   Caa1/B     990,600  
 
            Banking — 3.3%            
19           Bank of America Corp., 10.00%, 5/7/09, Ser. JNJ (Johnson & Johnson) (d)   Aa2/AA     1,306,695  
            Wachovia Corp.,            
35                 13.15%, 3/30/09, Ser. GE (General Electric Co.) (d)   Aa3/AA-     1,091,644  
27                 14.10%, 4/1/09, Ser. JPM (JP Morgan Chase & Co.) (d)   Aa3/AA-     1,158,956  
11           Wells Fargo & Co., 8.00%, 6/1/08, Ser. AAPL (Apple, Inc.) (d)   Aa1/AA+     1,495,340  
              5,052,635  
            Commercial Services — 0.6%            
29           United Rentals, Inc., 6.50%, 8/1/28   B3/B-     906,250  

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)
Principal
               
Amount
      Credit Rating        
(000)
                (Moody's/S&P)    
Value*
 
            Electric — 2.8%            
$30           AES Trust III, 6.75%, 10/15/29   B3/B-     $1,475,700  
21           Entergy Corp., 7.625%, 2/17/09   NR/BBB     1,486,800  
4           NRG Energy, Inc., 5.75%, 3/16/09   B2/CCC+                     1,328,672  
              4,291,172  
            Financial Services — 7.5%            
                    46           Citigroup Funding, Inc., 4.583%, 9/27/08, Ser. GNW (Genworth Financial, Inc.) (c) (d)   Aa3/AA-     1,072,260  
            Credit Suisse,            
48               11.00%, 3/16/09, Ser. MSFT (Microsoft Corp.) (d)   Aa1/AA-     1,292,409  
20               11.00%, 4/25/09, Ser. KO (Coca-Cola Corp.) (d)   Aa1/AA-     1,257,500  
            Eksportfinans AS,            
28               10.00%, 3/12/09, Ser. HPQ (Hewlett Packard Co.) (d)   Aaa/A+     1,243,185  
90               13.00%, 11/1/08, Ser. TWX (Time Warner, Inc.) (d)   Aaa/A+     1,359,000  
57           Goldman Sachs Group, Inc., 9.75%, 12/19/08, Ser. CSCO (Cisco Systems, Inc.) (d)   Aa3/NR     1,458,324  
            Lehman Brothers Holdings, Inc.,            
60               6.00%, 10/12/10, Ser. GIS (General Mills, Inc.) (d)   A1/A+     1,479,366  
18               8.50%, 8/25/08, Ser. UTX (United Technologies Corp.) (d)   A1/A+     1,182,016  
9               28.00%, 3/6/09, Ser. RIG (Transocean, Inc.) (d)   A1/A+     999,843  
              11,343,903  
            Hand/Machine Tools — 0.8%            
1           Stanley Works, 4.344%, 5/17/12 (c)   A2/A     1,228,850  
 
            Insurance — 2.1%            
40           Metlife, Inc., 6.375%, 8/15/08   NR/BBB+     1,163,200  
42           Platinum Underwriters Holdings Ltd., 6.00%, 2/15/09, Ser. A   NR/BB+     1,325,100  
50           XL Capital Ltd., 7.00%, 2/15/09   Baa1/A-                     696,000   
              3,184,300  
            Investment Companies — 0.8%            
17           Vale Capital Ltd., 5.50%, 6/15/10, Ser. RIO (Companhia Vale do Rio Doce) (d)   NR/NR     1,267,028  
 
            Oil & Gas — 0.9%            
8           Chesapeake Energy Corp., 5.00%, 12/31/49   NR/B     1,284,425  
 
            Pharmaceuticals — 0.6%            
5           Schering-Plough Corp., 6.00%, 8/13/10   Baa3/BBB     931,890  
 
            Real Estate (REIT) —0.8%            
60           FelCor Lodging Trust, Inc., 1.95%, 12/31/49, Ser. A   B2/B-     1,200,000  
 
            Sovereign — 2.2%            
            Svensk Exportkredit AB,            
39               10.00%, 10/20/08, Ser. TEVA (Teva Pharmaceutical Industries Ltd.) (d)   Aa1/AA+     1,698,232  
19               12.50%, 12/12/08, Ser. XOM (Exxon Mobil Corp.) (d)   Aa1/AA+     1,582,875  
              3,281,107  
            Telecommunications — 0.9%            
23           Crown Castle International Corp., 6.25%, 8/15/12   NR/NR     1,382,063  
 
 
   
Total Convertible Preferred Stock (cost-$42,769,174)
        37,784,223  

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)
Principal
                         
Amount
      Credit Rating        
(000)
      (Moody's/S&P)    
Value*
 
 CONVERTIBLE BONDS & NOTES—6.7%            
            Automotive — 0.8%            
$1,200                     Ford Motor Co., 4.25%, 12/15/36   Caa1/CCC+                     $1,147,500  
 
            Commercial Services—0.4%            
650           Bowne & Co., Inc., 5.00%, 10/1/33   B1/B-                     658,970   
 
            Computers — 1.0%            
1,400           Maxtor Corp., 6.80%, 4/30/10   Ba1/NR     1,498,000  
 
            Electric — 0.8%            
425           PG&E Corp., 9.50%, 6/30/10   NR/NR     1,167,687  
 
            Internet — 0.9%            
1,165           Amazon.com, Inc., 4.75%, 2/1/09   Ba2/B+     1,294,606  
 
            Oil & Gas — 1.0%            
825           Devon Energy Corp., 4.95%, 8/15/08   Baa1/BBB+     1,532,438  
 
            Telecommunications — 1.8%            
               1,550           Level 3 Communications, Inc., 6.00%, 3/15/10   Caa3/CCC     1,414,375  
1,400           Nextel Communications, Inc., 5.25%, 1/15/10   Baa3/BB     1,344,000  
              2,758,375  
 
   
Total Convertible Bonds & Notes (cost-$10,849,466)
        10,057,576  
 
 CORPORATE BONDS & NOTES—0.4%            
1,300           Financial Services—0.4%            
            Residential Capital LLC, 8.375%, 6/30/10   Ca/D     702,000  
 
   
Total Corporate Bonds & Notes (cost-$828,750)
        702,000  
 
 SHORT-TERM INVESTMENTS —3.7%            
            Time Deposit — 3.7%            
5,574           Bank of America—London, 1.46%, 6/2/08 (cost-$5,573,677)         5,573,677  
    Total Investments, before call options written (cost—$172,316,753) —100.6%         152,123,767  
 
 CALL OPTIONS WRITTEN (a) —(0.2)%            
Contracts
               
185
  Archer Daniels-Midland Co., strike price $45, expires 6/21/08         (2,775 )
135
  Baxter International, Inc., strike price $62.50, expires 6/21/08         (6,075 )
310
  Cisco Systems, Inc., strike price $28, expires 6/21/08         (6,200 )
246
  DAX Index, OTC, strike price €7,264, expires 6/20/08         (16,551 )
65
  Diamond Offshore Drilling, Inc., strike price $145, expires 6/21/08         (14,300 )
1,878
  Dow Jones € Stoxx 50 Price Index, OTC, strike price 3,902, expires 6/20/08         (38,614 )
70
  Freeport-McMoran Copper & Gold, Inc., strike price $130, expires 6/21/08         (6,860 )
731
  FTSE 100 Index, OTC, strike price GBP 6,382, expires 6/20/08         (17,731 )
160
  Gilead Sciences, Inc., strike price $55, expires 6/21/08         (23,200 )
14
  Google, Inc., strike price $640, expires 6/21/08         (2,520 )
150
  Harris Corp., strike price $70, expires 6/21/08         (15,750 )
65
  International Business Machines Corp., strike price $130, expires 6/21/08         (14,495 )
30
  Intuitive Surgical, Inc., strike price $360, expires 6/21/08         (675 )

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)
 
Contracts
        Value*  
70
            L-3 Communications Holdings, Inc., strike price $115, expires 6/21/08     $(490)   
155
  McDonalds Corp., strike price $62.50, expires 6/21/08     (2,325)  
165
  Medco Health Solutions, Inc., strike price $55, expires 6/21/08     (825)  
145
  Molson Coors Brewing Co., strike price $60, expires 6/21/08     (10,875)  
120
  National Oilwell Varco, Inc., strike price $85, expires 6/21/08     (35,280)  
51,800
  NIKKEI 225 Index, OTC, strike price ¥ 14,501, expires 6/13/08     (68,743)  
29,364
  OMX Stockholm 30 Index, OTC, strike price SEK 1,058, expires 6/19/08     (19,043)  
405
  Oracle Corp., strike price $22.50, expires 6/21/08     (30,375)  
105
  Pepsico, Inc., strike price $72.50, expires 6/21/08     (1,050)  
180
  Qualcomm, Inc., strike price $52.50, expires 6/21/08     (4,500)  
65
  Research Motion Ltd., strike price $150, expires 6/21/08     (8,710)  
550
  S&P 200 Index, OTC, strike price AUD 6,090, expires 6/19/08     (7,006)  
85
  Schlumberger Ltd., strike price $110, expires 6/21/08     (5,100)  
198
  Swiss Market Index, OTC, strike price CHF 7,860, expires 6/20/08     (4,720)  
 
    Total Call Options Written (premiums received—$787,117)                    (364,788)  
 
    Total Investments, net of call options written (cost—$171,529,636)(e)— 100.4%                     151,758,979   
 
    Liabilities in excess of other assets —(0.4)%     (568,862)  
 
    Net Assets—100.0%     $151,190,117   

 
Notes to Schedule of Investments:
                 
*
 

Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value.
Portfolio securities and other financial instruments for which market quotations are not readily available or if a development/event occurs that may significantly impact the value of a security, are fair valued, in good faith, pursuant to guidelines established by the Board of Trustees or persons acting at their discretion pursuant to procedures approved by the Board of Trustees. The Fund's investments, including over-the-counter options, are valued daily using prices supplied by an independent pricing service or dealer quotations, or by using the last sale price on the exchange that is the primary market for such securities, or the mean between the last quoted bid and ask price for those securities for which the over-the-counter market is the primary market or for listed securities in which there were no sales. Independent pricing services use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Exchange traded options are valued at the settlement price determined by the relevant exchange. Short-term securities maturing in 60 days or less are valued at amortized cost, if their original term to maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term exceeded 60 days. The prices used by the Fund to value securities may differ from the value that would be realized if the securities were sold. The Fund's net asset value is normally determined as of the close of regular trading (normally, 4:00 p.m. Eastern time) on the New York Stock Exchange ("NYSE") on each day the NYSE is open for business.

 
     

The prices of certain portfolio securities or other assets may be determined at a time prior to the close of regular trading on the NYSE. When fair valuing securities, the Fund may, among other things, consider significant events (which may be considered to include changes in the value of U.S. securities or securities indicies) that occur after the close of the relevant market and before the time the Fund's net asset value ("NAV") is calculated. With respect to certain foreign securities, the Fund may fair value securities using modeling tools provided by a third-party vendor. The Fund has retained a statistical research service to assist in determining the fair value of foreign securities. This service utilizes statistics and programs based on historical performance of markets and other economic data to assist in making fair value estimates. Fair value estimates used by the Fund for foreign securities may differ from the value realized from the sale of those securities. Fair value pricing may require subjective determinations about the value of portfolio securities or other assets, and fair values used to determine the Fund's NAV may differ from quoted or published prices, or from prices that are used by others, for the same investments. In addition, the use of fair value pricing may not always result in adjustments to the prices of portfolio securities or other assets held by the Fund.

 
 
(a)
   

Non-income producing.

 
(b)
 

All or partial amount segregated as collateral for call options written.

 
(c)
 

Variable rate security. Interest rate disclosed reflects the rate in effect on May 31, 2008.

 
(d)
 

Securities exchangeable or convertible into securities of an entity different than the issuer. Such entity is identified in the parenthetical.

 
(e)
 

Securities with an aggregate value of $48,301,667, representing 31.95% of net assets have been valued utilizing modeling tools provided by a third-party vender as described in the footnote above.

       
 

Glossary:
€ — Euros
¥ — Japanese Yen
AUD — Australian Dollar
CHF — Swiss Franc
GBP — Great British Pound
GDR — Global Depositary Receipt
NR — Not Rated
REIT — Real Estate Investment Trust
SEK — Swedish Krona

Nicholas-Applegate Global Equity & Convertible Income Fund Schedule of Investments
May 31, 2008 (unaudited)

Other Investments:

      Transactions in call options written for the period September 28, 2007* through May 31, 2008
    Contracts                   Premiums
Options outstanding, September 28, 2007*  
— 
  $                — 
Options written  
96,649 
  3,289,898 
Options terminated in closing purchase transactions  
(3,655)
  (1,845,015)
Options expired  
                      (5,548)
                        (657,766)
         
Options outstanding, May 31, 2008  
87,446 
  $     787,117 

* Commencement of operations

 


Item 2. Controls and Procedures

(a) The registrant’s President Chief Executive Officer and Treasurer, Principal Financial & Accounting Officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c)) under the Act (17 CFR 270.30a-3(c))) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no significant changes in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d))) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits

           (a) Exhibit 99.302 Cert. – Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: Nicholas–Applegate Global Equity & Convertible Income Fund

By /s/ Brian S. Shlissel
President & Chief Executive Officer

Date: July 22, 2008

By /s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: July 22, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dated indicated.

By /s/ Brian S. Shlissel
President & Chief Executive Officer

Date: July 22, 2008

By /s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: July 22, 2008

 

Grafico Azioni Allianzgi Global Equity & Convertible Income Fund (NYSE:NGZ)
Storico
Da Giu 2024 a Lug 2024 Clicca qui per i Grafici di Allianzgi Global Equity & Convertible Income Fund
Grafico Azioni Allianzgi Global Equity & Convertible Income Fund (NYSE:NGZ)
Storico
Da Lug 2023 a Lug 2024 Clicca qui per i Grafici di Allianzgi Global Equity & Convertible Income Fund