Pioneer Long/Short Opportunistic Credit Fund

Top 10 Portfolio Holdings as of 2/29/2016
Default: sorted by market value

Security Name Par / Shares Market Value
Apr16 Mem6 P @ 1610 104 $19,446
Apr16 Mem6 P @ 1810 -104 $-96,467
Apr16 Mem6 P @ 1910 104 $217,766
Banc of America Commercial Mortgage Trust 2007-5, Floating Rate Note, 2/10/51 250,000 $247,901
Bank of America Corp., Floating Rate Note, 10/23/49 530,000 $552,849
Beverage Packaging Holdings Luxembourg II SA, 5.625%, 12/15/16 (144A) 620,000 $620,000
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/20 (Cat Bond) (144A) 250,000 $256,427
Cds: (Cdx.Na.Hy.21 35-100%) Usd 20dec18 Buy Bnr0vhk30 -1,235,000 $-175,289
Cds: (Cdx.Na.Ig.19 0-3%) Usd 20dec17 Buy Bnr1b3mw5 655,000 $-93,279
Cds: (Cdx.Na.Ig.19 0-3%) Usd 20dec17 Buy Bnr1dwk84 400,000 $-62,020
Cds: (Itraxx.Eur.21 3-6%) Eur 20jun19 Bnr13xh46 2,500,000 $-160,580
Citigroup, Inc., Floating Rate Note (Perpetual) 530,000 $505,028
Citigroup Commercial Mortgage Trust 2014-GC23 REMICS, Floating Rate Note, 7/12/47 (144A) 300,000 $177,713
Cme: (Cdx.Na.Hy.17.V9) Usd 20dec16 Z919gm1c1 -1,506,500 $-44,891
Cme: (Cdx.Na.Hy.25.V1) Usd 20dec20 Z91vrer63 -26,335,000 $-21,174
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 47,000 $41,685
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 300,000 $281,201
COMM 2007-C9 Mortgage Trust, Floating Rate Note, 12/10/49 (144A) 510,000 $468,574
Credit Agricole SA, Floating Rate Note (Perpetual) (144A) 530,000 $473,602
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 12/17/40 175,000 $47,393
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 300,000 $284,702
EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/10/19 (144A) 100,000 $92,586
European Bank for Reconstruction & Development, 6.0%, 3/3/16 3,700,000 $57,646
Federal Home Loan Bank Discount Notes, 0.0%, 3/2/16 1,350,000 $1,349,989
Federal Home Loan Bank Discount Notes, 0.0%, 3/21/16 150,000 $149,977
Glencore Funding LLC, 1.7%, 5/27/16 (144A) 1,375,000 $1,367,353
GS Mortgage Securities Corp II Series 2005-GG4, Floating Rate Note, 7/10/39 125,000 $115,105
GS Mortgage Securities Trust 2006-GG6, Floating Rate Note, 4/10/38 250,000 $138,963
Ice: (Itraxx.Xo.21.V2) Eur 20jun19 Z91jedh42 -2,704,167 $-231,969
Icon Brand Holdings LLC, 4.229%, 1/26/43 (144A) 50,000 $37,160
ING Groep NV, Floating Rate Note, 12/29/49 530,000 $492,900
JP Morgan Chase Commercial Mortgage Securities Trust 2006-CIBC16, 5.623%, 5/12/45 200,000 $193,436
Jun16 Mem6 P @ 1410 101 $31,310
Jun16 Mem6 P @ 1510 -101 $-53,025
Jun16 Mem6 P @ 1610 -101 $-87,870
Jun16 Mem6 P @ 1710 101 $146,450
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 250,000 $248,400
ML-CFC Commercial Mortgage Trust 2006-3, Floating Rate Note, 7/12/46 70,000 $70,154
Morgan Stanley, Floating Rate Note (Perpetual) 19,000 $534,470
Petrobras International Finance Co., 3.5%, 2/6/17 680,000 $668,903
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 250,000 $252,606
RMAT 2015-1 LLC, 5.0%, 7/27/20 (Step) (144A) 660,000 $648,643
Scds: (Acafp) Eur 20dec20 Sell Bnr1zmzj2 -460,000 $392
Scds: (Aks) Usd 20dec16 Buy Bnr1vukr6 1,135,000 $-42,064
Scds: (Aks) Usd 20dec16 Buy Bnr20eya6 285,000 $-10,562
Scds: (Ally) Usd 20dec20 Buy Bnr1zpjy0 705,000 $72,036
Scds: (Ally) Usd 20dec20 Buy Bnr26spt8 355,000 $36,274
Scds: (Ally) Usd 20dec20 Buy Bnr2c2p84 135,000 $13,794
Scds: (Bac) Usd 20dec20 Sell Bnr1zpe41 -225,000 $419
Scds: (Bac) Usd 20dec20 Sell Bnr1zr9h4 -180,000 $336
Scds: (Bacr) Eur 20dec20 Sell Bnr2c2jy4 -595,000 $45,622
Scds: (Bbdbcn) Usd 20dec16 Buy Bnr2cl6j9 855,000 $4,303
Scds: (Bbdbcn) Usd 20dec16 Buy Bnr2dab72 400,000 $2,013
Scds: (Btu) Usd 20mar16 Buy Bnr1uyj91 150,000 $-23,934
Scds: (C) Usd 20dec20 Sell Bnr1zpet6 -225,000 $107
Scds: (C) Usd 20dec20 Sell Bnr1zr9l5 -180,000 $85
Scds: (Ftr) Usd 20dec20 Buy Bnr2d49t1 1,335,000 $-25,105
Scds: (Hov) Usd 20dec16 Buy Bnr1zr6z7 560,000 $-19,592
Scds: (Hov) Usd 20dec16 Buy Bnr231u15 230,000 $-8,047
Scds: (Hov) Usd 20dec16 Buy Bnr26wym4 480,000 $-16,793
Scds: (Hsbc) Eur 20dec20 Sell Bnr2c2jv0 -595,000 $38,159
Scds: (Ihrt) Usd 20dec16 Buy Bnr1uyk32 885,000 $-266,494
Scds: (Ihrt) Usd 20dec16 Buy Bnr278v80 90,000 $-27,101
Scds: (Ihrt) Usd 20dec16 Buy Bnr2daxu7 375,000 $-112,921
Scds: (Intned) Eur 20dec20 Sell Bnr1zn4h8 -460,000 $-5,370
Scds: (Jcp) Usd 20dec16 Buy Bnr22utb2 525,000 $19,395
Scds: (Mbi) Usd 20dec16 Buy Bnr1v0hu9 364,800 $-63,035
Scds: (Mbi) Usd 20dec20 Sell Bnr1ztpb5 -364,800 $149,859
Scds: (Mni) Usd 20jun16 Buy Bnr1kuy93 550,000 $7,984
Scds: (Ms) Usd 20dec20 Sell Bnr1zpex7 -225,000 $953
Scds: (Ms) Usd 20dec20 Sell Bnr1ztlt0 -135,000 $913
Scds: (Nsino) Eur 20mar16 Buy Bnr1uzpu4 250,000 $-16,529
Scds: (Nsino) Eur 20sep17 Sell Bnr1wr839 -1,500,000 $650,534
Scds: (Nsino) Eur 20sep20 Buy Bnr1wr862 1,500,000 $-1,308,278
Scds: (Petbra) Usd 20dec16 Buy Bnr2day44 620,000 $-23,339
Scds: (Shld) Usd 20dec16 Buy Bnr22uus3 875,000 $-81,053
Scds: (Tckbcn) Usd 20dec16 Buy Bnr26t8y4 1,230,000 $-776
Scds: (Toy) Usd 20mar16 Buy Bnr1uykf5 520,000 $4,115
Scds: (Turkey) Usd 20dec20 Sell Bnr25avz7 -805,000 $66,344
Scds: (Turkey) Usd 20dec20 Sell Bnr273dn8 -745,000 $61,399
Scds: (Wft) Usd 20dec16 Buy Bnr2db3l8 620,000 $-31,170
Sprint Communications, Inc., 6.0%, 12/1/16 1,290,000 $1,299,675
Swp: Usd 1.818500 07-Aug-2019 Usd Sell -951,858 $-27,717
Swp: Usd 2.201500 06-May-2025 Usd Sell -1,018,659 $-66,608
Tbill Zero% 24mar16 2,530,000 $2,529,623
Transocean, Inc., 5.55%, 12/15/16 1,305,000 $1,307,929
Trswap: Iboxhy Index Usd Buy 4,165,000 $-91,115
Trswap: Iboxhy Index Usd Buy 8,335,000 $-186,848
Trswap: Iboxhy Index Usd Buy 4,165,000 $-86,593
Trswap: Iboxhy Index Usd Buy 8,335,000 $-173,290
U.S. Treasury Bills, 0.0%, 3/10/16 250,000 $249,989
U.S. Treasury Bills, 0.0%, 3/17/16 2,000,000 $1,999,806
U.S. Treasury Floating Rate Note, 0.375235328%, 7/31/16 2,640,000 $2,641,288
U.S. Treasury Inflation Indexed Bonds, 1.375%, 2/15/44 1,010,400 $1,109,134
United States Treasury Floating Rate Note, Floating Rate Note, 1/31/17 2,640,000 $2,641,419
United States Treasury Floating Rate Note, Floating Rate Note, 1/31/18 525,000 $525,607
United States Treasury Floating Rate Note, Floating Rate Note, 10/31/16 2,640,000 $2,640,886
United States Treasury Floating Rate Note, Floating Rate Note, 10/31/17 2,000,000 $1,999,827
United States Treasury Floating Rate Note, Floating Rate Note, 4/30/16 2,525,000 $2,526,010
United States Treasury Floating Rate Note, Floating Rate Note, 4/30/17 2,645,000 $2,644,842
United States Treasury Floating Rate Note, Floating Rate Note, 7/31/17 1,925,000 $1,923,594
VOLT XXXVII LLC, 4.375%, 7/25/45 (Step) (144A) 660,000 $634,509
Wells Fargo Commercial Mortgage Trust 2010-C1, 4.0%, 11/18/43 (144A) 195,000 $167,773

The portfolio is actively managed, and current holdings may be different.

For fund descriptions, historical and current performance, standardized returns as of the most recent quarter-end, risk disclosure or a prospectus, please click here.

Please request a free information kit on any Pioneer fund by ordering from this web site or by calling 1-800-225-6292. The kit includes a quarterly fact sheet and a prospectus. You should consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about each fund and should be read carefully before you invest or send money. To obtain a prospectus directly and for other information on any Pioneer fund please visit our download literature page.