Edgar Filing: PIMCO Dynamic Credit Income Fund

PIMCO Dynamic Credit Income Fund

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY


Investment Company Act File Number:		811-22758

Registrant Name:		PIMCO Dynamic Credit Income Fund

Address of Principal Executive Offices:		1633 Broadway New York, NY 10019

Name and Address of Agent for Service:		Lawrence G. Altadonna 1633 Broadway New York, NY 10019

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

Date of Fiscal Year End:		December 31, 2014

Date of Reporting Period:		March 31, 2014

Item 1. Schedule of Investments

Schedule of Investments

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited)


Principal Amount (000s)			Value*
	CORPORATE BONDS & NOTES—59.5%
		Advertising—0.3%
$	3,525	inVentiv Health, Inc., 9.00%, 1/15/18 (a)(d)(k)	$	3,754,125
	5,500	Sitel LLC, 11.00%, 8/1/17 (a)(d)(k)		5,933,125

				9,687,250

		Airlines—0.1%
	3,000	Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (a)(d)		3,112,500

		Apparel & Textiles—0.1%
	2,000	Quiksilver, Inc., 7.875%, 8/1/18 (a)(d)(k)		2,185,000

		Auto Components—1.3%
€	300	Autodis S.A., 6.50%, 2/1/19 (a)(b)(d)(l) (acquisition cost—$410,925; purchased 1/23/14)		427,000
$	14,332	Commercial Vehicle Group, Inc., 7.875%, 4/15/19 (k)		14,779,875
	2,750	Pittsburgh Glass Works LLC, 8.00%, 11/15/18 (a)(d)(k)		3,004,375
		Schaeffler Finance BV (k),
€	4,000	4.25%, 5/15/18		5,758,575
$	4,500	4.75%, 5/15/21 (a)(d)		4,623,750
		Schaeffler Holding Finance BV, PIK (k),
	5,250	6.875%, 8/15/18 (a)(d)		5,610,938
€	5,400	6.875%, 8/15/18		7,935,881

				42,140,394

		Banking—8.0%
£	3,500	Barclays Bank PLC, 14.00%, 6/15/19 (h)(k)		7,918,130
$	36,500	BPCE S.A., 12.50%, 9/30/19 (a)(b)(d)(h)(k)(l) (acquisition cost—$45,132,500; purchased 2/5/13—2/15/13)		47,450,000
	25,000	Citigroup, Inc., 5.875%, 2/22/33 (k)		26,666,500
	7,000	Credit Agricole S.A., 8.125%, 9/19/33 (k)(n)		8,029,000
	1,300	Eksportfinans ASA, 2.00%, 9/15/15 (k)		1,293,500
		LBG Capital No. 2 PLC,
€	1,900	8.875%, 2/7/20		2,922,215
£	11,100	15.00%, 12/21/19		26,980,824
€	8,597	15.00%, 12/21/19		18,108,946
$	50,000	Lloyds Bank PLC, 12.00%, 12/16/24 (a)(b)(d)(h)(k)(l) (acquisition cost—$62,500,000; purchased 1/31/13)		68,545,600
	17,375	Regions Financial Corp., 7.375%, 12/10/37 (k)		19,959,045
€	4,000	Societe Generale S.A., 9.375%, 9/4/19 (h)(k)		6,640,271
$	2,500	Sophia Holding Finance L.P., 9.625%, 12/1/18 (a)(d)(k)		2,631,250
		UBS AG (k),
	10,000	7.25%, 2/22/22 (n)		10,997,500
	19,000	7.625%, 8/17/22		22,322,872

				270,465,653

		Building Materials—0.2%
	2,000	Associated Materials LLC, 9.125%, 11/1/17		2,115,000
	1,500	Headwaters, Inc., 7.25%, 1/15/19 (a)(d)(k)		1,571,250
	1,500	USG Corp., 5.875%, 11/1/21 (a)(d)(k)		1,599,375
€	1,000	Xella Holdco Finance S.A., 9.125%, 9/15/18 (k)		1,498,194

				6,783,819

		Capital Markets—2.0%
$	67,000	Blackstone CQP Holdco LP, 2.324%, 3/18/19 (a)(b)(d)(g)(l) (acquisition cost—$67,000,000; purchased 3/18/14)		66,625,832

		Chemicals—1.6%
		INEOS Group Holdings S.A. (k),
	4,500	6.125%, 8/15/18 (a)(d)		4,685,625
€	6,500	6.50%, 8/15/18		9,425,561
$	38,285	Perstorp Holding AB, 8.75%, 5/15/17 (a)(d)(k)		41,156,375

				55,267,561

		Coal—1.8%
	4,500	Arch Coal, Inc., 8.00%, 1/15/19 (a)(d)		4,511,250
		Mongolian Mining Corp.,
	1,900	8.875%, 3/29/17 (a)(d)		1,270,625
	5,475	8.875%, 3/29/17		3,661,406
	6,000	Walter Energy, Inc., 8.50%, 4/15/21		3,810,000
	35,104	Westmoreland Coal Co., 10.75%, 2/1/18 (k)		38,438,880
	8,000	Westmoreland Escrow Corp., 10.75%, 2/1/18 (a)(d)(k)		8,760,000

				60,452,161

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
		Commercial Services—2.5%
$	92	ADT Corp., 4.875%, 7/15/42	$	76,011
	12,000	American Residential Services LLC, 12.00%, 4/15/15 (a)(d)(k)		12,450,000
	4,000	Brand Energy & Infrastructure Services, Inc., 8.50%, 12/1/21 (a)(d)(k)		4,250,000
	2,250	Ceridian HCM Holding, Inc., 11.00%, 3/15/21 (a)(d)(k)		2,604,375
	45,650	DynCorp International, Inc., 10.375%, 7/1/17 (k)		47,932,500
	11,045	Harland Clarke Holdings Corp., 9.75%, 8/1/18 (a)(d)(k)		12,177,112
	4,000	PHH Corp., 6.375%, 8/15/21 (k)		4,150,000

				83,639,998

		Computers—0.2%
		NCR Escrow Corp. (a)(d)(k),
	2,000	5.875%, 12/15/21		2,115,000
	4,000	6.375%, 12/15/23		4,270,000

				6,385,000

		Containers & Packaging—0.2%
		Beverage Packaging Holdings Luxembourg II S.A. (a)(d)(k),
	1,750	5.625%, 12/15/16		1,798,125
	4,750	6.00%, 6/15/17		4,928,125

				6,726,250

		Distribution/Wholesale—0.4%
	2,000	American Builders & Contractors Supply Co., Inc., 5.625%, 4/15/21 (a)(d)(k)		2,075,000
	10,000	HD Supply, Inc., 11.50%, 7/15/20 (k)		11,925,000

				14,000,000

		Diversified Financial Services—5.4%
	20,300	AGFC Capital Trust I, 6.00%, 1/15/67 (converts to FRN on 1/15/17) (a)(d)(k)		17,255,000
	24,075	Cantor Fitzgerald L.P., 7.875%, 10/15/19 (a)(d)(k)		25,572,465
	7,250	Jefferies Finance LLC, 7.375%, 4/1/20 (a)(d)(k)		7,648,750
€	16,700	KION Finance S.A., 6.75%, 2/15/20 (k)		25,382,194
$	8,000	Outerwall, Inc., 6.00%, 3/15/19		8,400,000
	12,000	Patriot Merger Corp., 9.00%, 7/15/21 (a)(d)(k)		12,900,000
	15,550	SLM Corp., 5.625%, 8/1/33 (k)		13,839,500
		Springleaf Finance Corp.,
	21,400	5.40%, 12/1/15 (k)		22,470,000
	600	5.75%, 9/15/16		638,250
	19,100	6.50%, 9/15/17 (k)		20,675,750
	20,900	6.90%, 12/15/17 (k)		23,042,250
	4,250	Stearns Holdings, Inc., 9.375%, 8/15/20 (a)(d)(k)		4,462,500

				182,286,659

		Electric Utilities—3.3%
	15,085	Ameren Energy Generating Co., 7.95%, 6/1/32 (k)		12,822,250
		Energy Future Intermediate Holding Co. LLC (k),
	17,058	6.875%, 8/15/17 (a)(d)		17,548,417
	47,500	10.00%, 12/1/20		50,231,250
	15,057	12.25%, 3/1/22 (a)(d)		17,842,545
	10,007	Illinois Power Generating Co., 6.30%, 4/1/20 (k)		8,480,933
	4,813	Yellowstone Energy L.P., 5.75%, 12/31/26 (a)(b)(d)(g)(l) (acquisition cost—$4,812,986; purchased 4/5/13)		4,513,058

				111,438,453

		Electronics—0.1%
	4,000	Flextronics International Ltd., 4.625%, 2/15/20 (k)		4,055,000

		Engineering & Construction—0.7%
	4,000	Aguila 3 S.A., 7.875%, 1/31/18 (a)(d)(k)		4,252,500
	14,434	Alion Science and Technology Corp., 12.00%, 11/1/14, PIK (k)		14,371,264
€	2,000	Deutsche Raststaetten Gruppe IV GmbH, 6.75%, 12/30/20 (e)(k)		3,023,941

				21,647,705

		Entertainment—0.5%
$	12,200	GLP Capital L.P., 4.375%, 11/1/18 (a)(d)(k)		12,550,750
	3,000	Penn National Gaming, Inc., 5.875%, 11/1/21 (a)(d)(k)		2,955,000

				15,505,750

		Food & Beverage—1.1%
	7,000	Carolina Beverage Group LLC, 10.625%, 8/1/18 (a)(d)(k)		7,595,000
	1,960	Diamond Foods, Inc., 7.00%, 3/15/19 (a)(d)(k)		2,033,500
	24,000	HJ Heinz Finance Co., 7.125%, 8/1/39 (a)(d)(k)		25,740,000
	2,620	Post Holdings, Inc., 6.75%, 12/1/21 (a)(d)(k)		2,780,475

				38,148,975

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
		Food Service—0.1%
£	1,500	Brakes Capital, 7.125%, 12/15/18	$	2,563,243

		Hand/Machine Tools—0.1%
$	3,000	Milacron LLC, 7.75%, 2/15/21 (a)(d)(k)		3,255,000

		Healthcare-Products—0.6%
	6,380	Accellent, Inc., 10.00%, 11/1/17 (k)		6,878,023
	9,500	ConvaTec Finance International S.A., 8.25%, 1/15/19, PIK (a)(d)(k)		9,808,750
€	2,200	Ontex IV S.A., 7.50%, 4/15/18 (k)		3,177,066

				19,863,839

		Healthcare-Services—0.4%
$	4,100	Community Health Systems, Inc., 6.875%, 2/1/22 (a)(d)(k)		4,305,000
	4,400	MPH Acquisition Holdings LLC, 6.625%, 4/1/22 (a)(d)(k)		4,526,500
	6,000	Tenet Healthcare Corp., 4.50%, 4/1/21 (k)		5,887,500

				14,719,000

		Holding Companies-Diversified—0.1%
€	2,700	CeramTec Group GmbH, 8.25%, 8/15/21		4,110,218

		Household Products/Wares—0.5%
$	11,305	Armored Autogroup, Inc., 9.25%, 11/1/18 (k)		11,912,644
	4,750	Sun Products Corp., 7.75%, 3/15/21 (a)(d)		4,061,250

				15,973,894

		Insurance—1.2%
	28,145	American International Group, Inc., 8.175%, 5/15/68 (converts to FRN on 5/15/38) (k)		37,116,219
	4,000	Hockey Merger Sub 2, Inc., 7.875%, 10/1/21 (a)(d)(k)		4,290,000

				41,406,219

		Internet—0.4%
		Ancestry.com, Inc. (k),
	8,250	9.625%, 10/15/18, PIK (a)(d)		8,703,750
	4,100	11.00%, 12/15/20		4,838,000

				13,541,750

		Iron/Steel—0.1%
	4,500	Bluescope Steel Ltd., 7.125%, 5/1/18 (a)(d)(k)		4,781,250

		Leisure—0.5%
£	10,000	Soho House Bond Ltd., 9.125%, 10/1/18 (g)		17,305,636

		Lodging—0.5%
$	12,400	Caesars Entertainment Operating Co., Inc., 8.50%, 2/15/20 (k)		11,036,000
	5,000	Station Casinos LLC, 7.50%, 3/1/21 (k)		5,431,250

				16,467,250

		Machinery-Construction & Mining—0.2%
	2,000	BlueLine Rental Finance Corp., 7.00%, 2/1/19 (a)(d)(k)		2,120,000
	2,600	Vander Intermediate Holding II Corp., 9.75%, 2/1/19 (a)(d)(k)		2,749,500

				4,869,500

		Machinery-Diversified—0.1%
	4,100	Gardner Denver, Inc., 6.875%, 8/15/21 (a)(d)(k)		4,243,500

		Media—5.4%
£	7,000	Arqiva Broadcast Finance PLC, 9.50%, 3/31/20 (k)		13,362,208
$	19,030	Clear Channel Communications, Inc., 9.00%, 3/1/21 (k)		19,957,713
	52,650	McClatchy Co., 9.00%, 12/15/22 (k)		61,534,688
€	26,700	Nara Cable Funding II Ltd., 8.50%, 3/1/20 (k)		44,507,724
$	20,055	Spanish Broadcasting System, Inc., 12.50%, 4/15/17 (a)(d)(k)		22,160,775
€	13,500	Unitymedia KabelBW GmbH, 9.625%, 12/1/19 (k)		20,388,724

				181,911,832

		Metal Fabricate/Hardware—0.1%
$	3,500	Wise Metals Group LLC, 8.75%, 12/15/18 (a)(d)(k)		3,771,250

		Miscellaneous Manufacturing—0.0%
	1,000	Trinseo Materials Operating SCA, 8.75%, 2/1/19 (k)		1,076,250

		Oil & Gas—4.1%
	3,000	Antero Resources Finance Corp., 5.375%, 11/1/21 (a)(d)(k)		3,046,875
	1,280	Denbury Resources, Inc., 4.625%, 7/15/23 (k)		1,196,800
	9,000	Ecopetrol S.A., 7.375%, 9/18/43 (k)		10,293,750

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
$	5,000	Expro Finance Luxembourg SCA, 8.50%, 12/15/16 (a)(d)(k)	$	5,234,375
	8,140	Forbes Energy Services Ltd., 9.00%, 6/15/19 (k)		8,201,050
	10,000	Gazprom OAO, 9.25%, 4/23/19 (a)(d)(k)		11,850,000
	3,500	Hiland Partners L.P., 7.25%, 10/1/20 (a)(d)(k)		3,823,750
	1,500	LBC Tank Terminals Holding Netherlands BV, 6.875%, 5/15/23 (a)(d)(k)		1,608,750
	20,000	Millennium Offshore Services Superholdings LLC, 9.50%, 2/15/18 (a)(d)(k)		21,350,000
	3,000	Murphy Oil USA, Inc., 6.00%, 8/15/23 (a)(d)(k)		3,112,500
		OGX Austria GmbH (f)
	400	8.375%, 4/1/22 (b)		30,000
	5,600	8.375%, 4/1/22 (a)(b)(d)(l) (acquisition cost—$4,529,250; purchased 1/31/13—11/25/13)		420,000
	48,450	8.50%, 6/1/18 (a)(d)		3,633,750
	15,000	Penn Virginia Corp., 8.50%, 5/1/20 (k)		16,762,500
	5,000	Petrobras Global Finance BV, 3.113%, 3/17/20 (k)(n)		5,007,500
		Petrobras International Finance Co.—Pifco,
	5,000	5.875%, 3/1/18		5,360,195
	5,000	7.875%, 3/15/19		5,729,345
	30,000	Sierra Hamilton LLC, 12.25%, 12/15/18 (a)(d)(k)		30,825,000
	740	Welltec A/S, 8.00%, 2/1/19 (a)(d)(k)		791,800

				138,277,940

		Paper & Forest Products—2.2%
	21,000	Millar Western Forest Products Ltd., 8.50%, 4/1/21 (k)		22,207,500
	47,010	Tembec Industries, Inc., 11.25%, 12/15/18 (k)		51,593,475

				73,800,975

		Pharmaceuticals—0.2%
	1,000	Capsugel S.A., 7.00%, 5/15/19 (a)(d)(k)		1,031,875
	5,000	Pinnacle Merger Sub, Inc., 9.50%, 10/1/23 (a)(d)(k)		5,531,250

				6,563,125

		Pipelines—0.2%
	1,500	Genesis Energy L.P., 5.75%, 2/15/21 (k)		1,560,000
	4,750	Regency Energy Partners L.P., 4.50%, 11/1/23 (k)		4,441,250

				6,001,250

		Retail—0.7%
		Enterprise Inns PLC,
£	742	6.50%, 12/6/18		1,308,154
	2,360	6.875%, 2/15/21		4,131,198
	2,210	6.875%, 5/9/25		3,776,512
	8,007	Spirit Issuer PLC, 5.472%, 12/28/34 (k)(n)		12,848,289

				22,064,153

		Software—0.5%
		Activision Blizzard, Inc. (a)(d)(k),
$	3,500	5.625%, 9/15/21		3,753,750
	3,500	6.125%, 9/15/23		3,819,375
	5,000	BMC Software Finance, Inc., 8.125%, 7/15/21 (a)(d)(k)		5,287,500
	5,000	Healthcare Technology Intermediate, Inc., 7.375%, 9/1/18, PIK (a)(d)(k)		5,100,000

				17,960,625

		Storage/Warehousing—0.8%
		Algeco Scotsman Global Finance PLC (a)(d)(k),
	19,000	8.50%, 10/15/18		20,852,500
	5,000	10.75%, 10/15/19		5,562,500

				26,415,000

		Telecommunications—9.9%
	5,000	Alcatel-Lucent USA, Inc., 4.625%, 7/1/17 (a)(d)(k)		5,162,500
	35,300	GCI, Inc., 6.75%, 6/1/21 (k)		35,917,750
		Intelsat Luxembourg S.A. (a)(d)(k),
	5,000	6.75%, 6/1/18		5,312,500
	17,000	8.125%, 6/1/23		18,083,750
	1,200	Sprint Communications, Inc., 6.00%, 12/1/16 (k)		1,318,500
		Sprint Corp. (a)(d)(k),
	14,590	7.125%, 6/15/24		15,355,975
	33,460	7.875%, 9/15/23		36,889,650
		T-Mobile USA, Inc. (k),
	6,000	6.542%, 4/28/20		6,480,000
	1,000	6.731%, 4/28/22		1,075,000
		Vimpel Communications Via VIP Finance Ireland Ltd. OJSC (a)(d)(k),
	10,000	7.748%, 2/2/21		10,337,500
	15,000	9.125%, 4/30/18		16,575,000
	25,000	VimpelCom Holdings BV, 5.95%, 2/13/23 (a)(d)(k)		23,125,000

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
		Virgin Media Secured Finance PLC (k),
£	47,379	5.50%, 1/15/21	$	82,838,567
	43,100	6.00%, 4/15/21		76,255,239

				334,726,931

		Tobacco—0.3%
$	9,750	Vector Group Ltd., 7.75%, 2/15/21 (k)		10,530,000

		Transportation—0.5%
	5,727	Aviation Capital Group Corp., 6.75%, 4/6/21 (a)(d)(k)		6,369,077
€	7,941	Hapag-Lloyd AG, 9.00%, 10/15/15 (k)		11,541,802

				17,910,879

		Total Corporate Bonds & Notes (cost-$1,944,144,140)		2,004,664,469


	SENIOR LOANS (a)(c)—29.5%
		Aerospace & Defense—0.1%
$	3,790	Sequa Corp., 5.25%, 6/19/17, Term B (e)		3,716,965

		Beverages—0.5%
	14,850	Saxon Enterprises LLC, 5.50%, 2/15/19, Term B		14,961,375

		Biotechnology—0.0%
	800	Ikaria, Inc., 8.75%, 1/17/22		812,750

		Chemicals—1.6%
		Al Chem & Cy S.C.A.,
	4,901	4.50%, 10/3/19, Term B1		4,931,536
	2,543	4.50%, 10/3/19, Term B2		2,558,737
	5,000	8.25%, 4/3/20		5,150,000
	14,888	Axalta Coating Systems U.S. Holdings, Inc., 4.00%, 2/1/20		14,927,384
	24,813	Tronox, Inc., 4.50%, 3/19/20, Term B		24,996,882
	1,456	Univar, Inc., 5.00%, 6/30/17, Term B		1,454,154

				54,018,693

		Commercial Services—0.9%
	29,600	ServiceMaster Corp., 4.25%, 1/31/17		29,674,251

		Construction & Engineering—0.1%
	3,000	Brickman Group Holdings, Inc., 7.50%, 12/17/21		3,072,000

		Containers & Packaging—0.2%
		Ardagh Holdings USA, Inc.,
	3,800	4.00%, 12/17/19 (e)		3,813,064
	2,494	4.25%, 12/17/19, Term B		2,506,738

				6,319,802

		Diversified Financial Services—0.8%
	9,975	CityCenter Holdings, LLC, 5.00%, 10/16/20, Term B		10,069,553
	9,000	International Lease Finance Corp., 2.986%, 2/13/21, Term B (e)		9,017,676
	6,948	National Financial Partners Corp., 5.25%, 7/1/20, Term B		7,017,063
	2,000	TransUnion LLC, 3.00%, 3/17/21, Term B (e)		2,005,626

				28,109,918

		Entertainment—1.6%
	9,581	Caesars Entertainment Operating Co., 5.489%, 1/26/18, Term B6		9,059,712
		Pinnacle Entertainment, Inc.,
	642	3.75%, 8/15/16, Term B1		645,383
	3,623	3.75%, 8/13/20, Term B2		3,637,909
	39,600	Station Casinos LLC, 4.25%, 3/2/20, Term B		39,773,250

				53,116,254

		Environmental Services—0.2%
		WTG Holdings Corp.,
	3,990	4.75%, 1/15/21		4,017,431
	1,000	8.50%, 1/15/22		1,015,000

				5,032,431

		Food & Beverage—3.7%
	22,586	Albertson’s, LLC, 4.25%, 3/21/16, Term B		22,744,534
	99,746	HJ Heinz Co., 3.50%, 6/5/20, Term B2		100,425,821

				123,170,355

		Healthcare-Products—1.6%
£	29,885	Alliance Boots Ltd., 3.463%, 7/9/15, Term B		49,886,847
$	5,000	Rite Aid Corp., 5.75%, 8/21/20		5,126,250

				55,013,097

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
		Healthcare-Services—2.2%
$	10,872	Air Medical Group Holdings, Inc., 5.00%, 6/30/18, Term B1	$	10,919,729
	25,740	American Renal Holdings, Inc., 4.50%, 9/20/19		25,788,262
		Catalent Pharma Solutions, Inc.,
	9,875	4.25%, 9/15/17, Term B2		9,939,138
	2,000	6.50%, 12/29/17 (b)(l) (acquisition cost—$1,995,000; purchased 4/24/13)		2,028,334
	4,340	Covis Pharmaceuticals Holdings, 6.00%, 4/24/19 (b)(l) (acquisition cost—$4,340,244; purchased 4/24/13)		4,334,819
	11,500	MultiPlan, Inc., 0.234%, 3/6/21, Term B (e)		11,508,982
	9,900	United Surgical Partners International, Inc., 4.25%, 4/3/19, Term B		9,983,536

				74,502,800

		Household Products/Wares—0.7%
	24,840	Sun Products Corp., 5.50%, 3/23/20		23,742,477

		Insurance—0.7%
	14,813	AmWINS Group, Inc., 5.00%, 9/6/19		14,942,222
	9,709	Asurion LLC, 5.00%, 5/24/19, Term B1		9,745,135

				24,687,357

		Internet—0.4%
		Ancestry.com, Inc.,
	2,351	4.00%, 5/14/18, Term B2		2,360,655
	7,252	4.50%, 12/28/18, Term B1		7,291,923
	4,938	WaveDivision Holdings LLC, 4.00%, 10/15/19, Term B		4,947,745

				14,600,323

		Internet Software & Services—0.3%
	10,837	Getty Images, Inc., 4.75%, 10/18/19 (e)		10,420,274

		Leisure—0.1%
	4,142	Regent Seven Seas Cruises, Inc., 3.75%, 12/21/18, Term B (b)(l) (acquisition cost—$4,141,837; purchased 2/6/14)		4,152,192

		Lodging—0.1%
	2,488	Playa Resorts Holding B.V., 4.00%, 8/6/19, Term B		2,504,602

		Machinery—0.4%
	14,262	Gardner Denver, Inc., 4.25%, 7/30/20		14,273,261

		Media—0.9%
		Clear Channel Communications, Inc.,
	20,000	3.803%, 1/29/16, Term B		19,782,960
	3,900	6.903%, 1/30/19, Term D (e)		3,825,171
	7,225	Salem Communications Corp., 4.50%, 3/13/20, Term B		7,261,038

				30,869,169

		Mining—1.9%
	29,485	Fortescue Metals Group Ltd., 4.25%, 6/28/19, Term B		29,747,899
	20,111	Noranda Aluminum Acquisition Corp., 5.75%, 2/28/19, Term B		19,298,333
	14,919	Walter Energy, Inc., 7.25%, 4/2/18, Term B		14,456,050

				63,502,282

		Miscellaneous Manufacturing—0.2%
	4,975	CPG International, Inc., 4.75%, 9/30/20, Term B		4,993,656

		Oil & Gas—0.3%
	11,000	NFR Energy LLC, 8.75%, 12/31/18		11,185,625

		Pharmaceuticals—1.9%
	7,841	Par Pharmaceutical Cos., Inc., 4.00%, 9/30/19, Term B2		7,863,592
	9,950	PRA Holdings, Inc., 4.50%, 9/23/20		9,972,835
	45,979	Valeant Pharmaceuticals International, Inc., 3.75%, 8/5/20, Term B		46,442,393

				64,278,820

		Pipelines—1.5%
	51,916	NGPL PipeCo LLC, 6.75%, 9/15/17, Term B		50,899,601

		Plumbing & HVAC Equipment—0.7%
	22,050	AMPAM Parks Mechanical, Inc., 8.375%, 10/31/18 (b)(d)(g)(l) (acquisition cost—$21,609,000; purchased 10/30/13)		21,645,689

		Real Estate—0.5%
	16,830	Realogy Corp., 4.50%, 3/5/20		16,954,442

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
		Retail—0.3%
$	3,500	Advantage Sales & Marketing, 8.25%, 6/18/18	$	3,561,250
	7,463	American Builders & Contractors Supply Co., Inc., 3.50%, 4/16/20, Term B		7,460,172

				11,021,422

		Semiconductors—0.5%
	14,858	Freescale Semiconductor, Inc., 4.25%, 2/28/20, Term B4		14,920,912

		Software—0.9%
		First Data Corp., Term B
	9,500	3.655%, 3/24/17		9,500,000
	12,000	4.155%, 3/23/18		12,046,032
	8,717	SunGard Data Systems, Inc., 4.00%, 3/9/20, Term E		8,749,596

				30,295,628

		Technology Hardware, Storage & Peripherals—0.9%
	31,845	Dell International LLC, 4.50%, 4/29/20, Term B		31,670,039

		Telecommunications—2.4%
	25,550	Intelsat Jackson Holdings, 3.75%, 6/30/19, Term B2		25,646,037
	9,925	Light Tower Fiber LLC, 4.00%, 4/13/20, Term B		9,966,268
	4,848	Syniverse Holdings, Inc., 4.00%, 4/23/19, Term B		4,861,748
	39,601	Univision Communications, Inc., 4.00%, 3/1/20, Term C4		39,637,896

				80,111,949

		Transportation—0.4%
	4,206	Commercial Barge Line Co., 7.50%, 9/23/19, Term B (b)(l) (acquisition cost—$4,122,131; purchased 3/20/13)		4,222,030
	10,000	Maxim Crane Works LP, 10.25%, 11/26/18, Term B		10,275,000

				14,497,030

		Total Senior Loans (cost-$984,986,546)		992,747,441


	MORTGAGE-BACKED SECURITIES—26.3%
		Adjustable Rate Mortgage Trust, CMO (n),
	7,653	3.20%, 3/25/37		6,063,643
	2,097	4.578%, 11/25/37 (a)(d)		1,408,115
	827	American Home Mortgage Assets Trust, 6.25%, 6/25/37, CMO		542,845
	6,877	American Home Mortgage Investment Trust, 6.10%, 1/25/37, CMO (a)(d)		4,530,916
		Banc of America Alternative Loan Trust, CMO,
	339	6.00%, 7/25/35		319,747
	2,239	6.00%, 11/25/35		1,977,356
	2,956	6.00%, 4/25/36		2,554,576
	3,804	6.00%, 7/25/46		3,052,184
	6,397	6.50%, 2/25/36		5,410,505
	1,036	16.601%, 9/25/35 (b)(n)		1,289,606
		Banc of America Funding Corp., CMO,
	6,506	2.586%, 9/20/46 (n)		5,421,230
	8,157	5.945%, 8/26/36 (a)(d)(n)		4,800,376
	10,560	6.00%, 10/25/37		7,722,506
	4,582	Banc of America Funding Trust, 0.364%, 4/25/37, CMO (n)		3,111,898
	598	Banc of America Mortgage Trust, 6.00%, 10/25/36, CMO		532,865
		BCAP LLC Trust, CMO (a)(d),
	6,431	0.324%, 9/26/35 (n)		6,287,462
	9,756	2.653%, 7/26/36 (n)		8,053,451
	9,886	4.681%, 11/27/35 (n)		7,924,788
	2,081	5.142%, 7/26/36 (n)		1,635,698
	15,688	5.50%, 12/26/35 (n)		10,728,547
	2,401	13.378%, 11/26/35 (n)		2,351,631
	7,252	13.755%, 6/26/37 (g)(n)		5,873,475
	931	17.00%, 7/26/36		964,590
	2,721	Bear Stearns Adjustable Rate Mortgage Trust, 2.43%, 2/25/36, CMO (n)		1,945,876
		Bear Stearns ALT-A Trust, CMO (n),
	6,479	0.494%, 8/25/36		4,444,878
	7,273	0.654%, 1/25/36		5,200,217
	5,028	2.351%, 3/25/36		3,707,506
	12,250	2.356%, 4/25/37		8,482,862
	8,898	2.538%, 8/25/46		6,472,831
	2,756	2.81%, 5/25/36		1,642,207
	9,626	4.943%, 9/25/35		7,885,643
	8,031	Bear Stearns Mortgage Funding Trust, 7.00%, 8/25/36, CMO		6,618,386
€	10,000	Celtic Residential Irish Mortgage Securitisation No. 12 Ltd., 0.503%, 3/18/49, CMO (n)		12,067,595
$	22,548	Chase Mortgage Finance Trust, 4.793%, 1/25/36, CMO (n)		21,485,106
		Citigroup Mortgage Loan Trust, Inc., CMO,
	8,759	2.444%, 8/25/37 (n)		5,839,629
	2,018	2.658%, 7/25/46 (n)		1,632,668
	8,152	2.706%, 7/25/36 (n)		5,154,764
	6,654	3.121%, 3/25/37 (n)		5,267,858

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
$	1,836	5.455%, 4/25/37 (n)	$	1,622,305
	1,947	6.50%, 9/25/36 (a)(d)		1,426,014
	2,850	Commercial Mortgage Trust, 6.109%, 6/10/36 (a)(b)(d)(l)(n) (acquisition cost—$2,899,875; purchased 3/11/14)		2,866,463
		Countrywide Alternative Loan Trust, CMO,
	591	0.347%, 3/20/47 (n)		465,680
	487	0.457%, 11/20/35 (n)		399,171
	2,863	0.854%, 10/25/35 (n)		2,195,513
	4,492	5.50%, 11/25/35		3,720,088
	17,598	5.50%, 12/25/35		16,569,687
	7,713	5.50%, 2/25/36		6,816,784
	4,335	5.50%, 5/25/36		3,872,279
	3,667	5.50%, 5/25/37		3,110,599
	16,677	5.505%, 5/25/36 (n)		13,830,136
	1,000	6.00%, 3/25/35		855,742
	1,386	6.00%, 4/25/36		1,169,826
	2,944	6.00%, 1/25/37		2,628,591
	12,653	6.00%, 2/25/37		10,270,065
	29,629	6.00%, 4/25/37		25,006,837
	17,177	6.00%, 8/25/37		14,338,338
	1,299	6.25%, 12/25/36 (n)		1,074,389
	2,146	6.50%, 9/25/37		1,760,871
	316	19.376%, 7/25/35 (b)(n)		425,350
	1,393	Countrywide Asset-Backed Certificates, 0.394%, 4/25/36, CMO (n)		954,660
		Countrywide Home Loan Mortgage Pass-Through Trust, CMO,
	52,516	2.024%, 3/25/46 (n)		40,653,084
	12,946	2.411%, 3/20/36 (n)		13,140,630
	9,794	6.00%, 1/25/38		8,862,130
	722	Credit Suisse First Boston Mortgage Securities Corp., 6.00%, 1/25/36, CMO		573,532
		Credit Suisse Mortgage Capital Certificates, CMO (a)(d),
	23,471	2.41%, 10/26/36 (n)		14,552,606
	7,993	4.853%, 4/28/37 (n)		5,098,858
	32,140	5.75%, 5/26/37		26,893,952
	6,119	7.112%, 12/29/37 (n)		3,318,218
		Credit Suisse Mortgage Capital Certificates Mortgage-Backed Trust, CMO,
	817	6.00%, 7/25/36		655,068
	876	6.50%, 10/25/21		731,831
	5,932	6.50%, 5/25/36		4,401,188
	5,377	6.75%, 8/25/36		4,206,412
		Debussy DTC 1, CMO (a)(d),
£	55,000	5.93%, 7/12/25		95,131,755
	10,000	8.25%, 7/12/25		16,701,647
$	15,580	Deutsche ALT-A Securities, Inc., 0.454%, 4/25/37, CMO (n)		8,808,574
	1,725	Deutsche ALT-A Securities, Inc. Mortgage Loan Trust, 5.50%, 12/25/35, CMO		1,482,821
		First Horizon Alternative Mortgage Securities Trust, CMO, PO,
	53	zero coupon, 2/25/20		45,427
	55	zero coupon, 5/25/20		47,558
	38	zero coupon, 6/25/20		35,095
	338	zero coupon, 3/25/35		255,914
	6,621	GSC Capital Corp. Mortgage Trust, 0.334%, 5/25/36, CMO (n)		4,741,844
	10,425	GSR Mortgage Loan Trust, 5.50%, 11/25/35, CMO		9,975,220
		Harborview Mortgage Loan Trust, CMO (n),
	1,951	2.618%, 6/19/45		1,316,034
	1,652	5.075%, 6/19/36		1,186,017
	8,245	HomeBanc Mortgage Trust, 2.444%, 4/25/37, CMO (n)		4,812,664
	19,677	HSI Asset Loan Obligation Trust, 6.00%, 6/25/37, CMO		17,825,261
	13,541	Impac Secured Assets Trust, 0.324%, 1/25/37, CMO (n)		11,071,135
		IndyMac Index Mortgage Loan Trust, CMO (n),
	482	0.364%, 11/25/36		417,961
	2,173	2.924%, 6/25/36		1,659,286
	4,918	Jefferies Resecuritization Trust, 6.00%, 12/26/36, CMO (a)(d)		2,015,071
		JPMorgan Alternative Loan Trust, CMO,
	15,504	0.654%, 6/27/37 (a)(d)(n)		13,119,765
	1,816	2.944%, 5/25/36 (n)		1,430,572
	1,933	3.298%, 11/25/36 (n)		1,569,125
	2,455	6.00%, 12/25/35		2,214,094
		JPMorgan Resecuritization Trust, CMO (a)(d),
	8,903	2.615%, 3/21/37 (n)		6,752,518
	7,169	5.272%, 4/26/36 (n)		3,690,247
	3,556	6.00%, 9/26/36		2,129,314
	5,486	Lavendar Trust, 6.25%, 10/26/36, CMO (a)(d)		3,969,892
	10,228	Lehman Mortgage Trust, 6.00%, 1/25/38, CMO		9,729,306
	1,086	Lehman XS Trust, 1.054%, 8/25/47, CMO (n)		786,917
	3,445	MASTR Adjustable Rate Mortgages Trust, 0.854%, 2/25/36, CMO (n)		2,246,841
	19,810	Merrill Lynch Mortgage Investors Trust, 2.774%, 3/25/36, CMO (n)		13,849,816
	10,000	Morgan Stanley Capital I, Inc., 5.862%, 7/12/44, CMO (n)		9,786,590
	4,156	Morgan Stanley Mortgage Loan Trust, 2.509%, 11/25/37, CMO (n)		3,331,677
	19	PHH Alternative Mortgage Trust, zero coupon, 2/25/37, CMO, PO		14,425
		RBSSP Resecuritization Trust, CMO (a)(d),
	8,511	2.964%, 9/26/35 (n)		5,203,201
	5,097	5.50%, 5/26/36		3,892,018
	1,500	9.814%, 6/26/37 (n)		958,456

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
		Residential Accredit Loans, Inc., CMO,
$	1,277	0.304%, 2/25/37 (n)	$	969,360
	4,437	5.75%, 1/25/34		4,634,203
	6,309	6.00%, 12/25/35		5,548,540
	3,182	6.00%, 4/25/36		2,554,591
	8,731	6.00%, 5/25/36		7,366,434
	3,275	6.00%, 6/25/36		2,675,271
	6,257	6.00%, 8/25/36		4,907,245
	7,014	6.00%, 11/25/36		5,363,350
	5,731	6.00%, 3/25/37		4,673,565
	9,526	6.25%, 2/25/37		7,910,167
	2,456	6.50%, 9/25/37		1,929,187
		Residential Asset Securitization Trust, CMO,
	6,640	5.50%, 9/25/35		6,025,407
	1,336	6.00%, 2/25/36		1,098,033
	2,339	6.00%, 5/25/36		2,167,799
	406	6.00%, 2/25/37		341,646
		Residential Funding Mortgage Securities I, CMO,
	10,959	5.50%, 3/25/36		9,974,673
	2,505	6.00%, 10/25/36		2,225,020
	11,377	Salomon Brothers Mortgage Securities VII, Inc., 8.20%, 7/18/33 (n)		11,866,632
		Sequoia Mortgage Trust, CMO (n),
	1,458	0.935%, 2/20/34		1,442,458
	1,456	1.961%, 9/20/32		1,399,109
	27,477	5.345%, 6/20/37		25,028,270
	2,701	Structured Adjustable Rate Mortgage Loan Trust, 2.464%, 4/25/36, CMO (n)		2,326,794
		Structured Asset Mortgage Investments II Trust, CMO (n),
	19	0.364%, 5/25/46		13,948
	16,493	1.614%, 2/25/36		13,888,747
	15,624	Structured Asset Securities Corp., 5.50%, 10/25/35, CMO		13,615,965
	8,710	Suntrust Adjustable Rate Mortgage Loan Trust, 6.004%, 2/25/37, CMO (n)		7,467,276
		WaMu Mortgage Pass-Through Certificates, CMO (n),
	561	2.284%, 7/25/46		528,791
	5,623	2.414%, 8/25/36		4,930,752
		Washington Mutual Mortgage Pass-Through Certificates, CMO,
	4,087	0.394%, 1/25/47 (n)		2,712,927
	15,003	1.099%, 6/25/46 (n)		8,877,108
	3,589	5.75%, 11/25/35		3,141,046
	13,463	5.967%, 5/25/36		9,270,610
	18,715	6.221%, 7/25/36		10,433,999
	3,221	6.449%, 7/25/36		1,795,244
	8,681	Wells Fargo Mortgage Loan Trust, 2.624%, 3/27/37, CMO (a)(d)(n)		5,904,708

		Total Mortgage-Backed Securities (cost-$844,264,459)		886,085,866


	ASSET-BACKED SECURITIES—20.6%
		Accredited Mortgage Loan Trust (n),
	4,520	0.434%, 4/25/36		3,239,629
	3,900	0.62%, 9/25/35		3,155,022
		ACE Securities Corp. Home Equity Loan Trust (n),
	1,300	0.454%, 2/25/36		1,009,800
	4,202	0.774%, 2/25/36		3,232,632
	2,700	0.804%, 7/25/35		2,273,494
		Aegis Asset-Backed Securities Trust (n),
	10,700	0.584%, 12/25/35		6,981,718
	3,300	0.634%, 6/25/35		2,158,167
	4,100	1.654%, 3/25/35		3,605,519
	3,301	Aircraft Certificate Owner Trust, 7.001%, 9/20/22 (a)(d)(g)		3,327,501
	20,042	Ameriquest Mortgage Securities Trust, 0.544%, 3/25/36 (n)		16,671,590
		Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates (n),
	2,868	0.674%, 5/25/34		2,544,551
	7,000	0.764%, 9/25/35		4,002,061
	1,064	2.104%, 9/25/32		858,799
	1,115	Amortizing Residential Collateral Trust, 1.279%, 8/25/32 (n)		986,771
	42,853	Anthracite CDO I Ltd., 6.00%, 5/24/37 (a)(d)		44,352,855
		Argent Securities Trust (n),
	803	0.244%, 7/25/36		326,264
	21,587	0.304%, 7/25/36		8,812,549
	789	0.304%, 9/25/36		312,968
	8,254	0.344%, 3/25/36		4,171,026
		Argent Securities, Inc. Asset-Backed Pass-Through Certificates (n),
	4,456	0.384%, 1/25/36		2,995,699
	22,986	0.474%, 1/25/36		15,505,021
	9,031	1.429%, 11/25/34		6,713,586
		Asset Backed Funding Certificates (n),
	4,400	0.704%, 7/25/35		3,042,565
	2,089	1.204%, 3/25/34		1,643,215
		Asset-Backed Securities Corp. Home Equity Loan Trust (n),
	5,150	0.604%, 11/25/35		4,171,943
	1,159	3.155%, 8/15/33		1,044,801

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
		Bear Stearns Asset-Backed Securities Trust,
$	9,147	0.304%, 6/25/36 (n)	$	8,652,451
	1,189	1.654%, 10/27/32 (n)		1,085,231
	1,181	3.862%, 10/25/36 (n)		1,034,466
	1,390	6.00%, 12/25/35		1,138,879
		Carrington Mortgage Loan Trust (n),
	1,628	0.234%, 10/25/36		902,189
	7,400	0.414%, 2/25/37		4,992,284
	4,400	0.854%, 5/25/35		3,018,290
	9,213	Centex Home Equity, 0.634%, 10/25/35 (n)		7,828,268
		Citigroup Mortgage Loan Trust, Inc. (n),
	650	0.354%, 1/25/37		546,270
	7,000	0.564%, 10/25/35		5,955,369
		Countrywide Asset-Backed Certificates (n),
	553	0.254%, 5/25/47		543,167
	13,600	0.294%, 7/25/37		10,179,926
	22,751	0.314%, 5/25/36		20,876,700
	7,700	0.434%, 1/25/45		5,499,502
	10,000	0.594%, 4/25/36		7,667,580
	3,115	0.604%, 3/25/47 (a)(d)		2,001,422
	7,400	0.614%, 5/25/36		6,070,220
	7,200	0.794%, 10/25/35		5,555,758
	4,500	0.804%, 7/25/35		3,992,832
	1,569	0.904%, 3/25/34		1,500,738
	8,200	1.054%, 4/25/35		6,566,095
	365	5.357%, 10/25/46		314,700
	3,000	Credit-Based Asset Servicing and Securitization LLC, 0.784%, 7/25/35 (n)		1,733,625
	745	Encore Credit Receivables Trust, 0.844%, 7/25/35 (n)		626,328
	9,023	Fieldstone Mortgage Investment Trust, 0.324%, 7/25/36 (n)		5,076,329
		First Franklin Mortgage Loan Trust (n),
	6,600	0.604%, 11/25/36		5,369,628
	1,800	0.964%, 4/25/35 (a)(d)		1,679,670
	2,960	1.054%, 1/25/35		2,259,097
		Fremont Home Loan Trust (n),
	4,896	0.304%, 1/25/37		2,503,864
	2,800	0.644%, 7/25/35		2,457,910
	5,158	GSAA Trust, 5.058%, 5/25/35		4,688,364
		GSAMP Trust (n),
	1,586	0.244%, 1/25/37		859,422
	13,343	0.304%, 6/25/36		11,792,554
	1,542	0.314%, 5/25/46		1,318,539
	2,000	0.424%, 4/25/36		1,054,306
	1,340	1.804%, 10/25/34		1,155,894
	1,142	2.704%, 10/25/33		1,067,228
	8,000	Home Equity Loan Trust, 0.494%, 4/25/37 (n)		4,854,208
		HSI Asset Securitization Corp. Trust (n),
	7,429	0.264%, 12/25/36		3,420,296
	3,456	0.324%, 12/25/36		1,596,784
	1,239	0.444%, 11/25/35		1,042,290
	5,100	0.544%, 11/25/35		3,295,508
	5,100	IndyMac Residential Asset-Backed Trust, 0.394%, 4/25/47 (n)		2,963,426
	6,200	IXIS Real Estate Capital Trust, 0.574%, 2/25/36 (n)		5,064,303
		JPMorgan Mortgage Acquisition Corp. (n),
	1,315	0.494%, 2/25/36		913,442
	5,000	0.544%, 5/25/35		3,762,605
		JPMorgan Mortgage Acquisition Trust,
	2,674	0.306%, 7/25/36 (n)		1,314,248
	19,888	5.254%, 10/25/36		15,576,386
	2,000	5.356%, 11/25/36		1,974,789
	19,706	Lehman XS Trust, 5.346%, 5/25/37 (n)		14,584,848
		MASTR Asset-Backed Securities Trust (n),
	5,099	0.324%, 10/25/36		4,282,666
	4,791	0.394%, 6/25/36		2,612,192
		Merrill Lynch Mortgage Investors Trust (n),
	4,000	0.464%, 8/25/36		3,441,844
	2,200	0.634%, 5/25/36		1,934,876
	3,934	0.704%, 9/25/36		2,317,067
		Morgan Stanley ABS Capital I, Inc. Trust (n),
	6	0.224%, 10/25/36		3,400
	13,220	0.294%, 10/25/36		7,787,029
	11,304	0.304%, 6/25/36		7,997,187
	9,837	0.304%, 9/25/36		5,411,891
	12,187	0.304%, 11/25/36		7,533,579
	6,500	0.584%, 9/25/35		5,575,388
	400	0.624%, 7/25/35		349,404
	3,634	2.104%, 5/25/34		2,904,292
	26,137	Morgan Stanley Capital I, Inc., 0.444%, 1/25/36 (n)		21,637,735
		Morgan Stanley Home Equity Loan Trust (n),
	4,994	0.314%, 4/25/36		3,619,739
	800	0.624%, 8/25/35		736,518
	951	New Century Home Equity Loan Trust, 3.154%, 1/25/33 (n)		828,299

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
$	6,047	Nomura Asset Acceptance Corp., 0.484%, 10/25/36 (n)	$	2,437,731
		Option One Mortgage Loan Trust (n),
	988	0.294%, 1/25/37		574,230
	1,185	0.374%, 1/25/37		693,327
	949	0.404%, 3/25/37		529,819
		Park Place Securities, Inc. Asset-Backed Pass-Through Certificates (n),
	2,900	0.644%, 8/25/35		2,228,696
	24,350	0.704%, 7/25/35		16,815,550
	4,427	0.984%, 1/25/36		3,890,496
	10,978	1.034%, 1/25/36		7,422,964
	7,000	Popular ABS Mortgage Pass-Through Trust, 0.544%, 2/25/36 (n)		5,401,389
	3,326	Renaissance Home Equity Loan Trust, 5.612%, 4/25/37		1,770,512
		Residential Asset Mortgage Products, Inc. (n),
	14,303	0.474%, 1/25/36		9,930,888
	6,494	0.634%, 9/25/35		5,508,594
	6,139	0.904%, 4/25/34 (a)(b)(d)(l) (acquisition cost—$5,581,088; purchased 2/21/14)		5,610,547
	7,402	1.024%, 4/25/34 (a)(b)(d)(l) (acquisition cost—$6,964,406; purchased 2/21/14)		6,975,794
	3,053	1.729%, 4/25/34 (a)(b)(d)(l) (acquisition cost—$1,770,593; purchased 2/21/14)		1,784,859
	2,646	2.134%, 4/25/34 (a)(b)(d)(l) (acquisition cost—$915,713; purchased 2/21/14)		926,524
		Residential Asset Securities Corp. (n),
	17,800	0.414%, 7/25/36		13,413,261
	5,270	0.434%, 4/25/36		3,872,712
	10,500	0.484%, 4/25/36		7,489,713
	9,275	0.494%, 5/25/37		6,570,206
	1,000	0.554%, 12/25/35		900,771
	3,200	0.564%, 1/25/36		2,731,424
	67,960	Saxon Asset Securities Trust, 1.904%, 12/25/37 (a)(d)(n)		62,296,507
		Securitized Asset-Backed Receivables LLC Trust (n),
	21,843	0.404%, 5/25/36		12,450,105
	6,291	0.424%, 3/25/36		4,756,047
	364	0.814%, 10/25/35		360,962
		Soundview Home Equity Loan Trust (n),
	4,887	0.304%, 6/25/37		2,861,902
	21,146	0.314%, 11/25/36		16,810,766
	10,115	0.334%, 2/25/37		4,803,406
	4,640	0.414%, 2/25/37		2,232,933
	4,715	0.434%, 5/25/36		3,503,641
	11,620	1.104%, 10/25/37		7,839,507
		Specialty Underwriting & Residential Finance Trust,
	897	0.504%, 3/25/37 (n)		477,109
	6,300	0.804%, 12/25/35 (n)		5,693,071
	4,428	1.954%, 5/25/35 (n)		3,656,671
	4,173	5.85%, 2/25/37		2,592,629
		Structured Asset Investment Loan Trust (n),
	7,100	0.644%, 8/25/35		6,256,683
	1,700	1.054%, 9/25/34		1,626,470
	1,100	Structured Asset Securities Corp., 0.324%, 12/25/36 (n)		865,564
	11,800	Wells Fargo Home Equity Asset-Backed Securities, 0.614%, 12/25/35 (n)		10,126,017

		Total Asset-Backed Securities (cost-$674,184,026)		692,731,077


	SOVEREIGN DEBT OBLIGATIONS—5.7%
		Brazil—5.7%
BRL	199,470	Brazil Notas do Tesouro Nacional, 6.00%, 8/15/50, Ser. B (i) (cost—$181,911,197)		191,653,015


Shares

	PREFERRED STOCK—2.2%
		Banking—1.7%
		Ally Financial, Inc.,
	40,000	7.00%, 4/30/14, Ser. G (a)(d)(h)		39,707,500
	15,000	8.50%, 5/15/16, Ser. A (h)(m)		410,250
	30,000	CoBank ACB, 6.25%, 10/1/22, Ser. F (a)(b)(d)(h)(l)(m) (acquisition cost—$3,052,500; purchased 3/28/14)		3,050,625
	331,800	GMAC Capital Trust I, 8.125%, 2/15/40, Ser. 2 (m)		9,058,140
	160,000	State Street Corp., 5.90%, 3/15/24, Ser. D (h)(m)		4,142,400

				56,368,915

		Diversified Financial Services—0.5%
	170,000	Farm Credit Bank, 6.75%, 9/15/23 (a)(b)(d)(h)(l)(m) (acquisition cost—$17,000,000; purchased 7/16/13)		17,393,125

		Total Preferred Stock (cost-$72,218,996)		73,762,040

PIMCO Dynamic Credit Income Fund

March 31, 2014 (unaudited) (continued)


Principal Amount (000s)			Value*
	U.S. GOVERNMENT AGENCY SECURITIES—1.5%
		Fannie Mae, CMO,
$	2,293	3.00%, 1/25/42, IO	$	293,503
	34,143	3.00%, 1/25/43, IO (k)		4,261,387
	4,973	3.50%, 8/25/32, IO (k)		776,035
	41,276	5.746%, 10/25/43, IO (k)(n)		9,289,647
	3,956	5.846%, 8/25/38, IO (k)(n)		494,234
	9,707	5.996%, 2/25/43, IO (k)(n)		1,778,337
	8,811	6.486%, 12/25/36, IO (k)(n)		1,291,685
	15,805	6.496%, 4/25/37, IO (k)(n)		2,483,139
	3,631	8.74%, 10/25/42 (b)(k)(n)		3,573,043
		Freddie Mac, CMO, IO (k),
	39,787	2.50%, 11/15/27		4,288,385
	6,540	3.00%, 2/15/33		897,591
	9,275	3.50%, 8/15/42		1,682,519
	24,185	4.00%, 3/15/27—9/15/39		3,873,475
	14,411	5.845%, 8/15/42 (n)		3,117,345
	6,882	6.045%, 9/15/41—9/15/42 (n)		1,299,132
	5,622	6.345%, 12/15/34 (n)		664,535
		Ginnie Mae, CMO, IO,
	3,562	3.50%, 6/20/42		578,580
	9,398	4.00%, 3/20/42—9/20/42 (k)		1,698,903
	19,364	4.50%, 10/16/42 (k)		3,786,219
	5,784	5.963%, 8/20/42 (k)(n)		1,314,655
	915	6.045%, 10/16/42 (n)		166,883
	5,773	6.093%, 12/20/40 (k)(n)		1,243,107
	6,781	6.493%, 1/20/41 (k)(n)		1,372,727
	8,119	6.545%, 8/16/39 (k)(n)		1,362,770

		Total U.S. Government Agency Securities (cost-$51,187,222)		51,587,836


	U.S. TREASURY OBLIGATIONS (j)—0.8%
		U.S. Treasury Notes,
	18,403	0.25%, 1/31/15 (k)		18,424,918
	8,300	0.25%, 2/28/15		8,309,238
	1,500	0.25%, 3/31/15		1,501,758

		Total U.S. Treasury Obligations (cost-$28,216,067)		28,235,914


	MUNICIPAL BONDS—0.5%
		Ohio—0.5%
	17,805	Buckeye Tobacco Settlement Financing Auth. Rev., 6.50%, 6/1/47, Ser. A-2 (cost—$16,740,594)		15,519,372


	SHORT-TERM INVESTMENTS—3.1%
		Repurchase Agreements—2.4%
	13,500	Banc of America Securities LLC, dated 3/31/14, 0.08%, due 4/1/14, proceeds $13,500,030; collateralized by U.S. Treasury Bonds, 4.50%, due 8/15/39, valued at $13,829,938 including accrued interest		13,500,000
	68,500	Goldman Sachs Group, Inc. (The), dated 3/31/14, 0.10%, due 4/1/14, proceeds $68,500,190; collateralized by Freddie Mac, 3.50%, due 12/1/42, valued at $70,672,453 including accrued interest		68,500,000

		Total Repurchase Agreements (cost-$82,000,000)		82,000,000

		U.S. Treasury Obligations (j)—0.7%
	13,197	U.S. Treasury Bills, 0.069%—0.122%, 8/7/14—3/5/15 (o)		13,186,085
		U.S. Treasury Notes,
	3,300	0.25%, 8/31/14		3,302,577
	4,800	0.375%, 11/15/14		4,808,813
	1,844	0.50%, 10/15/14		1,848,250

		Total U.S. Treasury Obligations (cost-$23,141,305)		23,145,725

		Total Short-Term Investments (cost-$105,141,305)		105,145,725

		Total Investments (cost—$4,902,994,552) (p)—149.7%		5,042,132,755

		Liabilities in excess of other assets—(49.7)%		(1,674,111,028	)

		Net Assets—100.0%	$	3,368,021,727

Notes to Schedule of Investments:

Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Market value is generally determined on the basis of last reported sales prices, or if no sales are reported, on the basis of quotes obtained from a quotation reporting system, established market makers, or independent pricing services. The Fund’s investments 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. 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. Centrally cleared swaps are valued at the price determined by the relevant exchange. Securities purchased on a when-issued or delayed-delivery basis are marked to market daily until settlement at the forward settlement date.

The Board of Trustees (the “Board”) has adopted procedures for valuing portfolio securities and other financial instruments in circumstances where market quotes are not readily available, and has delegated the responsibility for applying the valuation methods to Allianz Global Investors Fund Management LLC (the “Investment Manager”) and Pacific Investment Management Company LLC (the “Sub-Adviser”). The Fund’s Valuation Committee was established by the Board to oversee the implementation of the Fund’s valuation methods and to make fair value determinations on behalf of the Board, as instructed. The Sub-Adviser monitors the continued appropriateness of methods applied and determines if adjustments should be made in light of market changes, events affecting the issuer, or other factors. If the Sub-Adviser determines that a valuation method may no longer be appropriate, another valuation method may be selected, or the Valuation Committee will be convened to consider the matter and take any appropriate action in accordance with procedures set forth by the Board. The Board shall review the appropriateness of the valuation methods and these methods may be amended or supplemented from time to time by the Valuation Committee.

Benchmark pricing procedures are used as the basis for setting the base price of a fixed-income security and for subsequently adjusting the price proportionally to market value changes of a pre-determined security deemed to be comparable in duration, generally a U.S. Treasury or sovereign note based on country of issuance. The base price may be a broker-dealer quote, transaction price, or an internal value as derived by analysis of market data. The base price of the security may be reset on a periodic basis based on the availability of market data and procedures approved by the Valuation Committee. The validity of the fair value is reviewed by the Sub-Adviser on a periodic basis and may be amended as the availability of market data indicates a material change.

Short-term securities maturing in 60 days or less are valued at amortized cost, if their original term to maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term to maturity exceeded 60 days.

Investments initially valued in currencies other than the U.S. dollar are converted to the U.S. dollar using exchange rates obtained from pricing services. As a result, the net asset value (“NAV”) of the Fund’s shares may be affected by changes in the value of currencies in relation to the U.S. dollar. The value of securities traded in markets outside the United States or denominated in currencies other than the U.S. dollar may be affected significantly on a day that the New York Stock Exchange (“NYSE”) is closed.

The prices used by the Fund to value investments may differ from the value that would be realized if the investments were sold, and these differences could be material. The Fund’s NAV is normally determined as of the close of regular trading (normally, 4:00 p.m. Eastern time) on the NYSE on each day the NYSE is open for business.

(a)	Private Placement—Restricted as to resale and may not have a readily available market. Securities with an aggregate value of $2,292,436,841, representing 68.1% of net assets.

(b)

Illiquid.

(c)

These securities generally pay interest at rates which are periodically pre-determined by reference to a base lending rate plus a premium. These base lending rates are generally either the lending rate offered by one or more major European banks, such as the “LIBOR” or the prime rate offered by one or more major United States banks, or the certificate of deposit rate. These securities are generally considered to be restricted as the Fund is ordinarily contractually obligated to receive approval from the Agent bank and/or borrower prior to disposition. Remaining maturities of senior loans may be less than the stated maturities shown as a result of contractual or optional payments by the borrower. Such prepayments cannot be predicted with certainty. The interest rate disclosed reflects the rate in effect on March 31, 2014.

(d)	144A—Exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, typically only to qualified institutional buyers. Unless otherwise indicated, these securities are not considered to be illiquid.

(e)	When-issued or delayed-delivery. To be settled/delivered after March 31, 2014.

(f)	In default.

(g)	Fair-Valued—Securities with an aggregate value of $119,291,191, representing 3.5% of net assets.

(h)	Perpetual maturity. The date shown, if any, is the next call date. For Corporate Bonds & Notes the interest rate is fixed until the first call date and variable thereafter.

(i)	Inflationary Bonds—Principal amount of security is adjusted for inflation/deflation.

(j)	All or partial amount segregated for the benefit of the counterparty as collateral for derivatives.

(k)	All or partial amount transferred for the benefit of the counterparty as collateral for reverse repurchase agreements.

(l)	Restricted. The aggregate acquisition cost of such securities is $258,778,048. The aggregate value is $262,972,491, representing 7.8% of net assets.

(m)	Dividend rate is fixed until the first call date and variable thereafter.

(n)	Variable or Floating Rate Security—Securities with an interest rate that changes periodically. The interest rate disclosed reflects the rate in effect on March 31, 2014.

(o)	Rates reflect the effective yields at purchase date.

(p)

At March 31, 2014, the cost basis of portfolio securities for federal income tax purposes was $4,903,013,926. Gross unrealized appreciation was $205,684,286; gross unrealized depreciation was $66,565,457; and net unrealized appreciation was $139,118,829. The difference between book and tax cost was attributable to wash sale loss deferrals and sale-buyback adjustment.

(q)	Total return swap agreements on convertible securities outstanding at March 31, 2014:

Swap Agreements, at Value

Counterparty

Pay/Receive

Underlying Reference

# of Units

Financing Rate

Maturity
Date

Notional
Amount

Unrealized
Appreciation

Asset

Liability

DUB

Receive

OGX Petroleo e Gas
Participaceos
S.A.

6853

* Not Applicable,

Fully Funded

2/11/15

2,863,051

65,100

2,928,151

—

(r)	Credit default swap agreements outstanding at March 31, 2014:

OTC sell protection swap agreements⁽²⁾:


Swap Counterparty/ Referenced Debt Issuer	Notional Amount (000s)⁽⁴⁾		Credit Spread⁽³⁾			Termination Date		Payments Received			Value⁽⁵⁾			Upfront Premiums Paid (Received)			Unrealized Appreciation
Bank of America:
Gazprom	$	10,000		2.83	%		3/20/19		1.00	%	$	(820,863	)	$	(875,710	)	$	54,847
Barclays Bank:
Community Health Systems		1,200		3.17	%		6/20/19		5.00	%		105,166			85,382			19,784
BNP Paribas:
Petrobras International Finance Co.		20,000		2.48	%		3/20/19		1.00	%		(1,354,718	)		(1,734,948	)		380,230
Citigroup:
Gazprom		15,000		2.83	%		3/20/19		1.00	%		(1,231,294	)		(1,275,616	)		44,322
Goldman Sachs:
Community Health Systems		900		3.17	%		6/20/19		5.00	%		78,875			70,382			8,493
Petrobras International Finance Co.		15,000		2.48	%		3/20/19		1.00	%		(1,016,039	)		(1,294,609	)		278,570
JPMorgan Chase:
Gazprom		15,000		2.83	%		3/20/19		1.00	%		(1,231,294	)		(1,294,609	)		63,315
Morgan Stanley:
Gazprom		10,000		2.83	%		3/20/19		1.00	%		(820,863	)		(875,710	)		54,847

											$	(6,291,030	)	$	(7,195,438	)	$	904,408

Centrally cleared buy protection swap agreements⁽¹⁾:


Broker (Exchange)	Notional Amount (000s)⁽⁴⁾		Credit Spread⁽³⁾			Termination Date		Payments Made			Value⁽⁵⁾			Unrealized Depreciation
Citigroup (ICE):
Dow Jones CDX.HY-20 5-Year Index	$	18,100		1.09	%		6/20/18		(5.00	)%	$	(1,617,989	)	$	(144,649	)

Centrally cleared sell protection swap agreements⁽²⁾:


Broker (Exchange)/Referenced Debt Issuer	Notional Amount (000s)⁽⁴⁾		Credit Spread⁽³⁾			Termination Date		Payments Received			Value⁽⁵⁾		Unrealized Appreciation
Citigroup (ICE):
Dow Jones CDX.HY-22 5-Year Index	$	76,800		1.08	%		6/20/19		5.00	%	$	5,841,459	$	416,694
Credit Suisse First Boston (ICE):
Dow Jones CDX.HY-20 5-Year Index		145,700		1.09	%		6/20/18		5.00	%		13,024,365		5,056,090
Dow Jones CDX.HY-21 5-Year Index		72,400		1.08	%		12/20/18		5.00	%		5,858,367		885,492
UBS (ICE):
Dow Jones CDX.HY-19 5-Year Index		79,500		1.09	%		12/20/17		5.00	%		7,088,750		5,268,050
Dow Jones CDX.HY-20 5-Year Index		28,500		1.09	%		6/20/18		5.00	%		2,547,663		1,024,694

											$	34,360,604	$	12,651,020

(1)

If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are assumed by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

(2)

If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are assumed by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

(3)

Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements as of year/period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

(4)	This represents the maximum potential amount the Fund could be required to make available as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(5)

The quoted market prices and resulting values for credit default swap agreements serve as an indicator of the status at March 31, 2014 of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement have been closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

(s)	Interest rate swap agreements outstanding at March 31, 2014:

Centrally cleared swap agreements:


					Rate Type
Broker (Exchange)	Notional Amount (000s)		Termination Date		Payments Made	Payments Received	Value			Unrealized Depreciation
Credit Suisse First Boston (CME)	$	197,900		6/18/44	3.75%	3-Month USD-LIBOR	$	(6,502,464	)	$	(5,223,201	)
Morgan Stanley (CME)	AUD	150,000		3/6/19	3-Month USD-LIBOR	3.63%		(338,284	)		(338,284	)
Morgan Stanley (CME)		175,000		3/6/19	3-Month USD-LIBOR	3.64%		(366,629	)		(366,629	)
Morgan Stanley (CME)	$	71,300		6/18/44	3.75%	3-Month USD-LIBOR		(2,342,727	)		(1,038,222	)
UBS (CME)		743,300		7/31/18	3-Month USD-LIBOR	1.57%		1,624,996			(1,603,520	)
UBS (CME)		550,000		3/20/23	3-Month USD-LIBOR	2.00%		(31,714,817	)		(29,669,237	)

							$	(39,639,925	)	$	(38,239,093	)

(t)	Forward foreign currency contracts outstanding at March 31, 2014:


	Counterparty	U.S.$ Value on Origination Date		U.S.$ Value March 31, 2014		Unrealized Appreciation (Depreciation)
Purchased:
12,904,392 Brazilian Real settling 4/2/14	Bank of America	$	5,702,338	$	5,687,259	$	(15,079	)
12,904,392 Brazilian Real settling 4/2/14	Barclays Bank		5,709,907		5,687,259		(22,648	)
4,514,000 British Pound settling 4/2/14	Barclays Bank		7,530,576		7,525,516		(5,060	)
6,799,000 British Pound settling 4/2/14	Barclays Bank		11,215,488		11,334,954		119,466
6,700,000 British Pound settling 4/2/14	Deutsche Bank		11,146,535		11,169,906		23,371
138,105,442 British Pound settling 4/2/14	JPMorgan Chase		228,702,613		230,242,508		1,539,895
23,000,000 Euro settling 4/2/14	Barclays Bank		32,006,340		31,685,940		(320,400	)
5,100,000 Euro settling 4/2/14	Citigroup		7,035,782		7,026,013		(9,769	)
18,400,000 Euro settling 4/2/14	Deutsche Bank		25,603,471		25,348,752		(254,719	)
35,397,202 Euro settling 4/2/14	Royal Bank of Scotland		48,766,725		48,764,940		(1,785	)
Sold:
2,746,000 Australian Dollar settling 5/2/14	Barclays Bank		2,529,714		2,541,396		(11,682	)
2,687,000 Australian Dollar settling 4/2/14	Deutsche Bank		2,447,965		2,491,925		(43,960	)
12,904,392 Brazilian Real settling 4/2/14	Bank of America		5,681,000		5,687,259		(6,259	)
12,904,392 Brazilian Real settling 4/2/14	Barclays Bank		5,702,338		5,687,259		15,079
12,904,392 Brazilian Real settling 5/5/14	Barclays Bank		5,664,914		5,638,640		26,274
24,693,256 Brazilian Real settling 6/3/14	Barclays Bank		10,137,753		10,707,706		(569,953	)
136,494,906 Brazilian Real settling 6/3/14	JPMorgan Chase		56,711,630		59,188,119		(2,476,489	)
73,892,591 Brazilian Real settling 7/2/14	JPMorgan Chase		30,815,007		31,794,067		(979,060	)
187,015,266 Brazilian Real settling 6/3/14	Morgan Stanley		76,994,959		81,095,201		(4,100,242	)
8,686,571 Brazilian Real settling 7/2/14	Morgan Stanley		3,601,547		3,737,606		(136,059	)
190,000 British Pound settling 4/2/14	Bank of America		315,778		316,759		(981	)
810,952 British Pound settling 4/2/14	Barclays Bank		1,351,000		1,351,979		(979	)
202,218 British Pound settling 4/2/14	Barclays Bank		338,000		337,127		873
272,000 British Pound settling 4/2/14	BNP Paribas		451,733		453,465		(1,732	)
1,215,242 British Pound settling 4/2/14	Citigroup		2,033,000		2,025,991		7,009
8,095,000 British Pound settling 5/2/14	Citigroup		13,451,607		13,492,504		(40,897	)
147,000 British Pound settling 4/2/14	Credit Suisse First Boston		246,338		245,071		1,267
608,416 British Pound settling 5/2/14	Credit Suisse First Boston		1,007,000		1,014,090		(7,090	)
23,000 British Pound settling 4/2/14	Deutsche Bank		38,232		38,344		(112	)
605,741 British Pound settling 4/2/14	Goldman Sachs		1,012,000		1,009,861		2,139
2,830,741 British Pound settling 4/2/14	Goldman Sachs		4,709,000		4,719,271		(10,271	)
84,000 British Pound settling 4/2/14	HSBC Bank		140,343		140,041		302
1,315,000 British Pound settling 4/2/14	HSBC Bank		2,187,797		2,192,302		(4,505	)
148,422,549 British Pound settling 4/2/14	JPMorgan Chase		248,035,600		247,442,673		592,927
138,105,442 British Pound settling 5/2/14	JPMorgan Chase		228,651,790		230,190,028		(1,538,238	)
81,168,158 Euro settling 4/2/14	Bank of America		111,404,518		111,821,278		(416,760	)
1,656,000 Euro settling 5/2/14	Bank of America		2,274,266		2,281,239		(6,973	)
484,572 Euro settling 4/2/14	Citigroup		673,000		667,570		5,430
242,965 Euro settling 5/2/14	Goldman Sachs		335,000		334,699		301
244,472 Euro settling 4/2/14	JPMorgan Chase		339,000		336,797		2,203
244,119 Euro settling 5/2/14	Morgan Stanley		336,000		336,288		(288	)
35,397,202 Euro settling 5/2/14	Royal Bank of Scotland		48,764,213		48,761,755		2,458

						$	(8,642,996	)

(u)	At March 31, 2014, the Fund held cash collateral of $2,570,000 and pledged cash collateral of $30,135,000 for derivative contracts. Cash collateral held may be invested in accordance with the Fund’s investment strategy.

(v)	Open reverse repurchase agreements at March 31, 2014:


Counterparty	Rate			Trade Date		Due Date		Principal & Interest		Principal
Barclays Bank		0.38	%		3/25/14		4/25/14	$	1,337,934	$	1,337,836
		0.40			3/24/14		4/25/14		7,697,684		7,697,000
		0.45			3/6/14		4/9/14		10,893,539		10,890,000
		0.45			3/18/14		4/9/14		19,720,146		19,716,000
		0.49			2/7/14		5/7/14		40,431,125		40,402,016
		0.50			2/5/14		5/5/14		32,409,739		32,385,000
		0.50			3/25/14		4/25/14		5,690,506		5,689,954
		0.53			3/6/14		4/7/14		22,744,366		22,735,630
		0.55			2/26/14		4/2/14		13,563,042		13,556,000
		0.55			3/17/14		4/23/14		19,173,393		19,169,000
		0.55			3/19/14		4/23/14		34,280,430		34,273,000
		0.60			2/13/14		5/13/14		74,546,349		74,488,000
		0.60			2/27/14		4/1/14		10,302,663		10,297,000
		0.60			3/12/14		5/12/14		9,198,065		9,195,000
		0.65			1/21/14		4/21/14		66,091,427		66,008,000
		0.65			2/5/14		5/5/14		17,421,283		17,404,000


	0.65	%	3/3/14	4/4/14	$	11,777,163	$	11,771,000
	0.65		3/10/14	4/11/14		7,145,837		7,143,000
	0.65		3/11/14	4/11/14		16,489,250		16,483,000
	0.65		3/31/14	7/2/14		9,726,000		9,726,000
	0.71		3/31/14	10/2/14		13,625,000		13,625,000
	0.75		3/25/14	4/25/14		11,337,483		11,335,861
	0.90		3/20/14	4/22/14		11,266,542		11,263,233
Credit Suisse First Boston	(0.50	)	3/31/14	4/14/14		9,496,351		9,496,483
	0.68		3/31/14	4/14/14		5,243,433		5,243,334
	0.75		2/4/14	12/31/14		5,246,438		5,244,854
	0.75		3/31/14	4/14/14		10,756,912		10,756,688
Deutsche Bank	(0.25	)	4/29/13	4/29/15		2,957,063		2,964,000
	0.50		3/4/14	4/7/14		9,338,630		9,335,000
	0.56		3/24/14	5/28/14		2,701,336		2,701,000
	0.57		2/19/14	4/21/14		106,890,345		106,821,000
	0.57		2/28/14	4/29/14		13,906,042		13,899,000
	0.57		3/3/14	5/7/14		17,937,232		17,929,000
	0.57		3/31/14	4/21/14		5,068,000		5,068,000
	0.57		3/31/14	4/29/14		3,953,063		3,953,000
	0.59		2/5/14	5/5/14		12,735,469		12,724,000
	0.59		2/26/14	5/27/14		32,907,326		32,889,000
	0.59		3/4/14	6/4/14		4,789,197		4,787,000
	0.59		3/10/14	6/10/14		30,918,144		30,907,000
	0.59		3/24/14	6/24/14		4,004,525		4,004,000
	0.59		3/27/14	6/30/14		80,112,564		80,106,000
	0.59		3/28/14	6/30/14		9,698,636		9,698,000
	0.59		3/31/14	6/30/14		9,097,000		9,097,000
Royal Bank of Canada	(0.50	)	3/28/14	3/27/16		11,858,000		11,858,000
	0.43		2/28/14	4/2/14		4,015,534		4,014,000
	0.43		3/13/14	4/14/14		12,752,894		12,750,000
	0.45		1/6/14	4/4/14		15,949,929		15,933,000
	0.45		3/14/14	6/16/14		3,674,827		3,674,000
	0.45		3/24/14	6/24/14		11,206,121		11,205,000
	0.45		3/31/14	7/2/14		4,104,000		4,104,000
	0.46		2/28/14	4/2/14		5,943,429		5,941,000
	0.55		2/26/14	5/27/14		10,050,218		10,045,000
	0.55		3/7/14	5/27/14		21,988,395		21,980,000
	0.55		3/24/14	6/24/14		8,705,064		8,704,000
	0.55		3/31/14	7/2/14		6,033,000		6,033,000
	0.554		3/20/14	6/20/14		6,961,285		6,960,000
	0.555		3/19/14	6/19/14		29,653,942		29,648,000
	0.556		2/18/14	5/19/14		105,138,155		105,070,000
	0.556		3/5/14	6/5/14		24,918,387		24,908,000
	0.56		3/11/14	6/13/14		20,998,857		20,992,000
	0.585		3/26/14	6/26/14		2,894,282		2,894,000
	0.649		2/20/14	8/20/14		90,843,461		90,778,000
	0.649		3/28/14	8/20/14		5,425,391		5,425,000
	0.68		10/28/13	4/29/14		52,341,798		52,189,000
Royal Bank of Scotland	0.65		3/20/14	6/20/14		24,991,881		24,986,465
	0.75		2/20/14	5/20/14		66,146,225		66,092,033
	0.75		3/6/14	6/6/14		78,231,747		78,190,129
UBS	(1.50	)	2/19/14	2/18/16		4,066,000		4,066,000
	0.38		3/13/14	4/16/14		18,086,627		18,083,000
	0.45		3/10/14	4/15/14		31,564,678		31,556,000
	0.45		3/11/14	4/15/14		12,384,310		12,381,000
	0.45		3/13/14	4/16/14		30,659,280		30,652,000
	0.47		3/20/14	4/25/14		1,165,183		1,165,000
	0.48		2/27/14	4/1/14		6,366,800		6,364,000
	0.48		3/10/14	4/15/14		9,497,785		9,495,000
	0.48		3/17/14	4/16/14		4,737,947		4,737,000
	0.48		3/31/14	5/2/14		6,441,000		6,441,000
	0.50		2/27/14	4/1/14		16,518,568		16,511,000
	0.50		3/3/14	4/9/14		14,988,034		14,982,000
	0.50		3/6/14	4/9/14		8,689,137		8,686,000
	0.50		3/20/14	4/16/14		15,876,646		15,874,000
	0.50		3/20/14	4/25/14		8,888,481		8,887,000
	0.50		3/31/14	7/3/14		4,606,000		4,606,000
	0.53		2/27/14	4/1/14		2,701,312		2,700,000
	0.54		3/31/14	5/2/14		10,076,000		10,076,000
	0.55		3/20/14	4/25/14		3,752,688		3,752,000
	0.55		3/31/14	7/2/14		4,435,000		4,435,000
	0.58		3/26/14	6/26/14		20,357,968		20,356,000
	0.58		3/31/14	7/2/14		12,028,000		12,028,000
	0.60		3/3/14	4/9/14		9,575,626		9,571,000
	0.60		3/31/14	7/2/14		3,082,000		3,082,000
	0.60		3/31/14	7/3/14		978,000		978,000
	0.62		3/31/14	7/3/14		2,286,000		2,286,000
	0.65		3/31/14	7/3/14		7,776,000		7,776,000
	0.70		3/20/14	4/22/14		7,009,464		7,007,828

							$	1,747,121,344

(w)

The weighted average daily balance of reverse repurchase agreements during the three months ended March 31, 2014 was $1,336,891,961, at a weighted average interest rate of 0.58%. Total value of underlying collateral (refer to the Schedule of Investments for positions transferred for the benefit of the counterparty as collateral) for open reverse repurchase agreements at March 31, 2014 was $1,921,996,164.

At March 31, 2014, the Fund held $5,875,247 in principal value of U.S. Treasury Obligations, $8,404,559 in Corporate Bonds, and $383,000 in cash as collateral for open reverse repurchase agreements. Cash collateral held may be invested in accordance with the Fund’s investment strategy. Securities held as collateral will not be pledged and are not reflected in the Schedule of Investments.

(x)	At March 31, 2014, the Fund had the following unfunded loan commitment which could be extended at the option of the borrower:


Borrower	Principal
Ortho-Clinical Diagnostics	$	3,476,748

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants. The three levels of the fair value hierarchy are described below:

•

Level 1—quoted prices in active markets for identical investments that the Fund has the ability to access

•

Level 2—valuations based on other significant observable inputs, which may include, but are not limited to, quoted prices for similar assets or liabilities, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates or other market corroborated inputs

•

Level 3—valuations based on significant unobservable inputs (including the Sub-Adviser’s or Valuation Committee’s own assumptions and securities whose price was determined by using a single broker’s quote)

The valuation techniques used by the Fund to measure fair value during the three months ended March 31, 2014 were intended to maximize the use of observable inputs and to minimize the use of unobservable inputs.

The Fund’s policy is to recognize transfers between levels at the end of the reporting period. An investment asset’s or liability’s level within the fair value hierarchy is based on the lowest level input, individually or in aggregate, that is significant to the fair value measurement. The objective of fair value measurement remains the same even when there is a significant decrease in the volume and level of activity for an asset or liability and regardless of the valuation techniques used. Investments categorized as Level 1 or 2 as of period end may have been transferred between Levels 1 and 2 since the prior period due to changes in the valuation method utilized in valuing the investments.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following are certain inputs and techniques that the Fund generally uses to evaluate how to classify each major category of assets and liabilities for Level 2 and Level 3, in accordance with Generally Accepted Accounting Principles.

Equity Securities (Common and Preferred Stock)—Equity securities traded in inactive markets are valued using inputs which include broker-dealer quotes, recently executed transactions adjusted for changes in the benchmark index, or evaluated price quotes received from independent pricing services that take into account the integrity of the market sector and issuer, the individual characteristics of the security, and information received from broker-dealers and other market sources pertaining to the issuer or security. To the extent that these inputs are observable, the values of equity securities are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

U.S. Treasury Obligations—U.S. Treasury obligations are valued by independent pricing services based on pricing models that evaluate the mean between the most recently quoted bid and ask price. The models also take into consideration data received from active market makers and broker-dealers, yield curves, and the spread over comparable U.S. Treasury issues. The spreads change daily in response to market conditions and are generally obtained from the new issue market and broker-dealer sources. To the extent that these inputs are observable, the values of U.S. Treasury obligations are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Government Sponsored Enterprise and Mortgage-Backed Securities—Government sponsored enterprise and mortgage-backed securities are valued by independent pricing services using pricing models based on inputs that include issuer type, coupon, cash flows, mortgage prepayment projection tables and Adjustable Rate Mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent that these inputs are observable, the values of government sponsored enterprise and mortgage-backed securities are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Municipal Bonds—Municipal bonds are valued by independent pricing services based on pricing models that take into account, among other factors, information received from market makers and broker-dealers, current trades, bid-want lists, offerings, market movements, the callability of the bond, state of issuance, benchmark yield curves, and bond insurance. To the extent that these inputs are observable, the values of municipal bonds are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Sovereign Debt Obligations—Sovereign debt obligations are valued by independent pricing services based on discounted cash flow models that incorporate option adjusted spreads along with benchmark curves and credit spreads. In addition,

international bond markets are monitored regularly for information pertaining to the issuer and/or the specific issue. To the extent that these inputs are observable, the values of sovereign debt obligations are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Corporate Bonds & Notes—Corporate bonds & notes are generally comprised of two main categories: investment grade bonds and high yield bonds. Investment grade bonds are valued by independent pricing services using various inputs and techniques, which include broker-dealer quotations, live trading levels, recently executed transactions in securities of the issuer or comparable issuers, and option adjusted spread models that include base curve and spread curve inputs. Adjustments to individual bonds can be applied to recognize trading differences compared to other bonds issued by the same issuer. High yield bonds are valued by independent pricing services based primarily on broker-dealer quotations from relevant market makers and recently executed transactions in securities of the issuer or comparable issuers. The broker-dealer quotations received are supported by credit analysis of the issuer that takes into consideration credit quality assessments, daily trading activity, and the activity of the underlying equities, listed bonds and sector-specific trends. To the extent that these inputs are observable, the values of corporate bonds & notes are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Asset-Backed Securities and Collateralized Mortgage Obligations—Asset-backed securities and collateralized mortgage obligations are valued by independent pricing services using pricing models based on a security’s average life volatility. The models also take into account tranche characteristics such as coupon, average life, collateral types, ratings, the issuer and tranche type, underlying collateral and performance of the collateral, and discount margin for certain floating rate issues. To the extent that these inputs are observable, the values of asset-backed securities and collateralized mortgage obligations are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Forward Foreign Currency Contracts—Forward foreign currency contracts are valued by independent pricing services using various inputs and techniques, which include broker-dealer quotations, actual trading information and foreign currency exchange rates gathered from leading market makers and foreign currency exchange trading centers throughout the world. To the extent that these inputs are observable, the values of forward foreign currency contracts are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Total Return Swaps—OTC total return swaps are valued by independent pricing services using pricing models that take into account among other factors, index spread curves, nominal values, modified duration values and cash flows. To the extent that these inputs are observable, the values of OTC total return swaps are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Credit Default Swaps—Credit default swaps traded over-the-counter (“OTC”) are valued by independent pricing services using pricing models that take into account, among other factors, information received from market makers and broker-dealers, default probabilities from index specific credit spread curves, recovery rates, and cash flows. Centrally cleared credit default swaps are valued at the price determined by the relevant exchange. To the extent that these inputs are observable, the values of credit default swaps are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Interest Rate Swaps—OTC interest rate swaps are valued by independent pricing services using pricing models that are based on real-time intraday snapshots of relevant interest rate curves that are built using the most actively traded securities for a given maturity. The pricing models also incorporate cash and money market rates. In addition, market data pertaining to interest rate swaps is monitored regularly to ensure that interest rates are properly depicting the current market rate. Centrally cleared interest rate swaps are valued at the price determined by the relevant exchange. To the extent that these inputs are observable, the values of interest rate swaps are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

Senior Loans—Senior Loans are valued by independent pricing services based on the average of quoted prices received from multiple dealers or valued relative to other benchmark securities when broker-dealer quotes are unavailable. These quoted prices are based on interest rates, yield curves, option adjusted spreads and credit spreads. To the extent that these inputs are observable, the values of Senior Loans are categorized as Level 2. To the extent that these inputs are unobservable, the values are categorized as Level 3.

A summary of the inputs used at March 31, 2014 in valuing the Fund’s assets and liabilities is listed below (refer to the Schedule of Investments and Notes to Schedule of Investments for more detailed information on Investments in Securities and Other Financial Instruments):


	Level 1— Quoted Prices		Level 2— Other Significant Observable Inputs			Level 3— Significant Unobservable Inputs		Value at 3/31/14
Investments in Securities—Assets
Corporate Bonds & Notes:
Capital Markets	$	—	$	—		$	66,625,832	$	66,625,832
Electric Utilities		—		106,925,395			4,513,058		111,438,453
Leisure		—		—			17,305,636		17,305,636
Oil & Gas		—		138,277,940			—		138,277,940
All Other		—		1,671,016,608			—		1,671,016,608
Senior Loans:
Environmental Services		—		4,017,431			1,015,000		5,032,431
Leisure		—		—			4,152,192		4,152,192
Plumbing & HVAC Equipment		—		—			21,645,689		21,645,689
Transportation		—		10,275,000			4,222,030		14,497,030
All Other		—		947,420,099			—		947,420,099
Mortgage-Backed Securities		—		880,212,391			5,873,475		886,085,866
Asset-Backed Securities		—		689,403,576			3,327,501		692,731,077
Sovereign Debt Obligations		—		191,653,015			—		191,653,015
Preferred Stock:
Banking		13,610,790		42,758,125			—		56,368,915
Diversified Financial Services		—		17,393,125			—		17,393,125
U.S. Government Agency Securities		—		51,587,836			—		51,587,836
U.S. Treasury Obligations		—		28,235,914			—		28,235,914
Municipal Bonds		—		15,519,372			—		15,519,372
Short-Term Investments		—		105,145,725			—		105,145,725

		13,610,790		4,899,841,552			128,680,413		5,042,132,755

*Other Financial Instruments—Assets**
Credit Contracts		—		13,555,428			65,100		13,620,528
Foreign Exchange Contracts		—		2,338,994			—		2,338,994

		—		15,894,422			65,100		15,959,522

*Other Financial Instruments—Liabilities**
Credit Contracts		—		(144,649	)		—		(144,649	)
Foreign Exchange Contracts		—		(10,981,990	)		—		(10,981,990	)
Interest Rate Contracts		—		(38,239,093	)		—		(38,239,093	)

		—		(49,365,732	)		—		(49,365,732	)

Totals	$	13,610,790	$	4,866,370,242		$	128,745,513	$	5,008,726,545

At March 31, 2014, there were no transfers between Levels 1 and 2.

A roll forward of fair value measurements using significant unobservable inputs (Level 3) for the three months ended March 31, 2014, was as follows:


	Beginning Balance 12/31/13		Purchases		Sales			Accrued Discount (Premiums)			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation/ Depreciation			Transfers into Level 3**		Transfers out of Level 3***			Ending Balance 3/31/14
Investments in Securities—Assets
Corporate Bonds & Notes:
Capital Markets	$	—	$	67,000,000	$	—		$	—		$	—		$	(374,168	)	$	—	$	—		$	66,625,832
Electric Utilities		4,497,696		—		—			—			—			15,362			—		—			4,513,058
Leisure		16,973,235		—		—			—			—			332,401			—		—			17,305,636
Oil & Gas		29,941,647		—		—			—			—			883,353			4,083,750		(30,825,000	)		4,083,750
Senior Loans:
Chemicals		5,168,750		—		—			889			—			(19,639	)		—		(5,150,000	)		—
Containers & Packaging		2,518,750		—		(2,487,668	)		168			—			(31,250	)		—		—			—
Diversified Financial Services		7,060,769		—		(17,413	)		2,523			160			(28,976	)		—		(7,017,063	)		—
Environmental Services		1,015,000		—		—			93			—			(93	)		—		—			1,015,000
Healthcare-Services		11,031,017		—		(22,669	)		(11,978	)		(453	)		(76,188	)		—		(10,919,729	)		—
Leisure		5,068,750		4,152,218		(5,010,381	)		(871	)		(41,855	)		(15,669	)		—		—			4,152,192
Lodging		2,531,156		—		(6,250	)		518			28			(20,850	)		—		(2,504,602	)		—
Media		7,335,859		—		(56,250	)		1,300			243			(20,114	)		—		(7,261,038	)		—
Plumbing & HVAC Equipment		21,623,732		—		—			21,748			—			209			—		—			21,645,689
Transportation		4,179,666		—		(5,043	)		3,414			1,049			42,944			—		—			4,222,030
Mortgage-Backed Securities		—		5,874,193		—			2,190			—			(2,908	)		—		—			5,873,475
Asset-Backed Securities		3,594,900		—		(299,094	)		(732	)		(2,851	)		35,278			—		—			3,327,501

		122,540,927		77,026,411		(7,904,768	)		19,262			(43,679	)		719,692			4,083,750		(63,677,432	)		132,764,163

*Other Financial Instruments—Assets**
Credit Contracts		—		—		—			—			—			65,100			—		—			65,100

Totals	$	122,540,927	$	77,026,411	$	(7,904,768	)	$	19,262		$	(43,679	)	$	784,792		$	4,083,750	$	(63,677,432	)	$	132,829,263

The following table presents additional information about valuation techniques and inputs used for investments that are measured at fair value and categorized within Level 3 at March 31, 2014:


	Ending Balance at 3/31/14		Valuation Technique Used		Unobservable Inputs	Input Values
Investments in Securities—Assets
Corporate Bonds & Notes	$	71,138,890		Benchmark Pricing	Security Price Reset		$93.77-$99.44
		17,305,636		Benchmark Pricing	Security Price Reset		£106.78
		4,083,750		Third Party Broker Quote	Single Broker Quote		$7.50
Senior Loans	$	9,389,222		Third Party Pricing Vendor	Single Broker Quote		$100.25-$101.50
		21,645,689		Discounted Yield Analysis	Yield to Maturity		0.17	%
Mortgage-Backed Securities	$	5,873,475		Benchmark Pricing	Security Price Reset		$80.99
Asset-Backed Securities	$	3,327,501		Benchmark Pricing	Security Price Reset		$100.80
*Other Financial Instruments—Assets**
Credit Contracts		65,100		Third Party Pricing Vendor	Single Broker Quote		$102.27

*	Other financial instruments are derivatives, such as swap agreements and forward foreign currency contracts, which are valued at the unrealized appreciation (depreciation) of the instrument.

**	Transferred out of Level 2 into Level 3 because a third-party pricing vendor stopped pricing.

***	Transferred out of Level 3 into Level 2 because evaluated prices with observable inputs from a third-party pricing vendor became available.

The net change in unrealized appreciation/depreciation of Level 3 investments held at March 31, 2014 was $144,849.

Glossary:

AUD—Australian Dollar

BRL—Brazilian Real

£—British Pound

CDX.HY—Credit Derivatives Index High Yield

CME—Chicago Mercantile Exchange

CMO—Collateralized Mortgage Obligation

€—Euro

FRN—Floating Rate Note

ICE—Intercontinental Exchange

IO—Interest Only

LIBOR—London Inter-Bank Offered Rate

OTC—Over-the-Counter

PIK—Payment-in-Kind

PO—Principal Only

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 control 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: PIMCO Dynamic Credit Income Fund


By		/s/ Julian Sluyters
		Julian Sluyters, President & Chief Executive Officer
Date: May 23, 2014

By		/s/ Lawrence G. Altadonna
		Lawrence G. Altadonna, Treasurer, Principal Financial & Accounting Officer
Date: May 23, 2014

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


By		/s/ Julian Sluyters
		Julian Sluyters, President & Chief Executive Officer
Date: May 23, 2014

By		/s/ Lawrence G. Altadonna
		Lawrence G. Altadonna, Treasurer, Principal Financial & Accounting Officer
Date: May 23, 2014