Pioneer Long/Short Opportunistic Credit Fund

Top 10 Portfolio Holdings as of 5/31/2016
Default: sorted by market value

Security Name Par / Shares Market Value
Aug16p S&P Emini 3rd Week @ 1640 73 $10,585
Aug16p S&P Emini 3rd Week @ 1740 -73 $-18,980
Aug16p S&P Emini 3rd Week @ 1840 -73 $-35,405
Aug16p S&P Emini 3rd Week @ 1940 73 $68,620
Bank of America Corp., Floating Rate Note (Perpetual) 0 $14,246
Beverage Packaging Holdings Luxembourg II SA, 5.625%, 12/15/16 (144A) 1,235,000 $1,265,489
BNP Paribas SA, Floating Rate Note (Perpetual) (144A) 400,000 $416,753
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A) 250,000 $256,099
Cds: (Cdx.Na.Hy.21 35-100%) Usd 20dec18 Buy Bnr0vhk30 -1,235,000 $-168,955
Cds: (Cdx.Na.Ig.19 0-3%) Usd 20dec17 Buy Bnr1b3mw5 655,000 $-21,211
Cds: (Cdx.Na.Ig.19 0-3%) Usd 20dec17 Buy Bnr22uw77 400,000 $-18,009
Cds: (Cdx.Na.Ig.19 0-3%) Usd 20dec17 Buy Bnr2e28w8 300,000 $-9,674
Cds: (Cdx.Na.Ig.9 0-3%) Usd 20dec17 Buy Bnr2e29w7 342,762 $-109,676
Cds: (Cdx.Na.Ig.9 0-3%) Usd 20dec17 Buy Bnr2e2a13 342,762 $-109,676
Cds: (Itraxx.Eur.21 3-6%) Eur 20jun19 Bnr13xh46 2,500,000 $-30,911
Citigroup, Inc., Floating Rate Note (Perpetual) 0 $18,588
Cme: (Cdx.Na.Hy.26.V1) Usd 20jun21 Z91zbuad8 -1,245,000 $-45,754
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 300,000 $283,957
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 47,000 $42,410
Credit Agricole SA, Floating Rate Note (Perpetual) (144A) 200,000 $210,519
Credit Agricole SA, Floating Rate Note (Perpetual) (144A) 330,000 $314,330
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 300,000 $259,824
Fixed 06 May 2025 Usd 2.2015% -1,018,659 $
Float 06 May 2025 Usd 3m Libor 0 Bps 1,018,659 $
Freeport-McMoRan, Inc., 2.15%, 3/1/17 670,000 $666,901
Ice: (Itraxx.Xo.21.V3) Eur 20jun19 Z91jedh42 -2,658,315 $-306,610
Ice: (Nsino) Eur 20jun19 Z91zbud11 -45,843 $35,184
ING Groep NV, Floating Rate Note, 12/29/49 0 $4,306
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 950,000 $1,075,875
JP Morgan Chase Commercial Mortgage Securities Trust 2006-CIBC16, 5.623%, 5/12/45 200,000 $197,439
Jul16p S&P Emini Week 3 @ 1640 73 $3,103
Jul16p S&P Emini Week 3 @ 1740 -73 $-5,475
Jul16p S&P Emini Week 3 @ 1840 -73 $-11,863
Jul16p S&P Emini Week 3 @ 1940 73 $28,470
Jun16 Mem6 P @ 1410 101 $253
Jun16 Mem6 P @ 1510 -101 $-253
Jun16 Mem6 P @ 1610 -101 $-505
Jun16 Mem6 P @ 1710 101 $758
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 250,000 $251,931
Petrobras Global Finance BV, 3.5%, 2/6/17 680,000 $686,583
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 250,000 $252,013
RMAT 2015-1 LLC, 5.0%, 7/27/20 (Step) (144A) 660,000 $638,188
Scds: (Aks) Usd 20dec16 Buy Bnr1vukr6 1,135,000 $31,472
Scds: (Aks) Usd 20dec16 Buy Bnr20eya6 285,000 $7,903
Scds: (Ally) Usd 20jun21 Buy Bnr2fxus3 175,000 $19,474
Scds: (Ally) Usd 20jun21 Buy Bnr2g3y88 845,000 $94,030
Scds: (Bbdbcn) Usd 20dec16 Buy Bnr2cl6j9 855,000 $23,432
Scds: (Bbdbcn) Usd 20dec16 Buy Bnr2dab72 400,000 $10,962
Scds: (Ftr) Usd 20jun21 Buy Bnr2ftsq9 690,000 $-15,836
Scds: (Ftr) Usd 20jun21 Buy Bnr2fttj4 555,000 $-12,738
Scds: (Hov) Usd 20dec16 Buy Bnr1zr6z7 560,000 $6,028
Scds: (Hov) Usd 20dec16 Buy Bnr231u15 230,000 $2,476
Scds: (Hov) Usd 20dec16 Buy Bnr26wym4 480,000 $5,167
Scds: (Ihrt) Usd 20dec16 Buy Bnr1uyk32 885,000 $-62,194
Scds: (Jcp) Usd 20dec16 Buy Bnr22utb2 525,000 $18,064
Scds: (Mbi) Usd 20dec16 Buy Bnr1v0hu9 364,800 $-6,719
Scds: (Mbi) Usd 20dec20 Sell Bnr1ztpb5 -364,800 $75,717
Scds: (Mni) Usd 20jun16 Buy Bnr1kuy93 550,000 $6,198
Scds: (Nsino) Eur 20sep17 Sell Bnr1wr839 -1,500,000 $308,990
Scds: (Nsino) Eur 20sep20 Buy Bnr1wr862 1,500,000 $-1,206,836
Scds: (Petbra) Usd 20dec16 Buy Bnr2day44 620,000 $-818
Scds: (Shld) Usd 20dec16 Buy Bnr22uus3 875,000 $-63,515
Scds: (Tckbcn) Usd 20dec16 Buy Bnr26t8y4 1,230,000 $36,031
Scds: (Wft) Usd 20dec16 Buy Bnr2db3l8 620,000 $-5,784
Sprint Communications, Inc., 6.0%, 12/1/16 1,290,000 $1,343,213
Swp: Usd 2.201500 06-May-2025 Usd Sell -1,018,659 $-50,593
Transocean, Inc., 5.55%, 12/15/16 1,305,000 $1,349,689
U.S. Treasury Bills, 0.0%, 6/16/16 3,220,000 $3,219,800
U.S. Treasury Floating Rate Note, 0.320158086%, 7/31/16 2,640,000 $2,641,082
United States Treasury Floating Rate Note, Floating Rate Note, 1/31/17 2,640,000 $2,641,289
United States Treasury Floating Rate Note, Floating Rate Note, 1/31/18 525,000 $526,348
United States Treasury Floating Rate Note, Floating Rate Note, 10/31/16 2,640,000 $2,641,254
United States Treasury Floating Rate Note, Floating Rate Note, 10/31/17 2,000,000 $2,002,580
United States Treasury Floating Rate Note, Floating Rate Note, 4/30/17 2,645,000 $2,645,938
United States Treasury Floating Rate Note, Floating Rate Note, 7/31/17 1,925,000 $1,925,297
Williams Partners LP, 7.25%, 2/1/17 795,000 $840,408

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.