Pioneer AMT-Free Municipal Fund

Top 10 Portfolio Holdings as of 7/31/2014
Default: sorted by market value

Security Name Par / Shares Market Value
Adams-Friendship Area School District, 6.5%, 4/1/16 1,430,000 $1,599,036
Alameda Corridor Transportation Authority, 0.0%, 10/1/31 10,000,000 $4,619,400
Albany Industrial Development Agency, 5.25%, 11/15/32 2,500,000 $2,741,833
Allentown Area Hospital Authority, 6.0%, 11/15/16 (Pre-Refunded) 1,500,000 $1,581,205
Anaheim Public Financing Authority, 0.0%, 9/1/22 410,000 $321,350
Anaheim Public Financing Authority, 0.0%, 9/1/36 12,595,000 $4,036,320
Arizona Health Facilities Authority, 5.5%, 1/1/38 5,145,000 $5,527,908
Beaver County Industrial Development Authority, Floating Rate Note, 12/1/35 5,000,000 $5,077,464
BlackRock Liquidity Funds MuniFund Portfolio 13,000,000 $13,000,000
Buckeye Tobacco Settlement Financing Authority, 5.75%, 6/1/34 10,000,000 $8,033,333
Buckeye Tobacco Settlement Financing Authority, 6.5%, 6/1/47 6,000,000 $5,096,480
Burke County Development Authority, 7.0%, 1/1/23 5,750,000 $6,730,394
California County Tobacco Securitization Agency, 0.0%, 6/1/33 3,370,000 $775,504
California Health Facilities Financing Authority, 5.625%, 7/1/32 2,000,000 $2,052,235
California Municipal Finance Authority, 5.25%, 2/1/37 4,000,000 $4,175,200
California Statewide Communities Development Authority, 5.0%, 5/15/30 4,875,000 $5,022,203
California Statewide Communities Development Authority, 5.75%, 7/1/47 10,000,000 $11,395,217
California Statewide Communities Development Authority, 5.75%, 8/15/38 4,000,000 $4,507,096
Central Texas Regional Mobility Authority, 0.0%, 1/1/25 7,100,000 $4,516,523
Central Texas Regional Mobility Authority, 0.0%, 1/1/26 3,000,000 $1,809,030
Central Texas Regional Mobility Authority, 0.0%, 1/1/27 3,000,000 $1,705,590
Central Texas Regional Mobility Authority, 6.75%, 1/1/41 2,500,000 $2,889,738
City of Cincinnati Ohio Water System Revenue, 5.0%, 12/1/36 2,000,000 $2,259,387
City of Cincinnati Ohio Water System Revenue, 5.0%, 12/1/37 2,250,000 $2,531,123
City of Phoenix Arizona, 4.0%, 7/1/21 5,000,000 $5,706,906
City of Raleigh North Carolina, 5.0%, 9/1/20 4,000,000 $4,886,533
City of Tallahassee Florida, 6.375%, 12/1/30 7,500,000 $7,602,038
Colorado Health Facilities Authority, Floating Rate Note, 11/15/35 2,750,000 $2,967,259
Commonwealth of Massachusetts, Floating Rate Note, 11/1/25 6,400,000 $6,271,660
County of Cuyahoga Ohio, 6.0%, 5/15/37 1,500,000 $1,534,525
County of Cuyahoga Ohio, 6.0%, 5/15/42 1,500,000 $1,531,840
County of Dona Ana New Mexico, 5.25%, 12/1/25 1,000,000 $1,014,750
County of Fairfax Virginia, 4.0%, 4/1/19 7,765,000 $8,841,100
County of Florence South Carolina, 4.0%, 6/1/20 7,500,000 $8,561,117
County of Frederick Maryland, 5.625%, 9/1/38 3,000,000 $2,964,773
County of Lake Ohio, 6.0%, 8/15/43 5,000,000 $5,494,283
County of Madison Florida, 6.0%, 7/1/25 445,000 $286,919
County of McLean North Dakota, 5.15%, 7/1/40 5,000,000 $5,249,208
County of Miami-Dade Florida Aviation Revenue, 5.5%, 10/1/41 5,000,000 $5,652,067
County of Warren Mississippi, 5.8%, 5/1/34 2,750,000 $3,076,618
Dallas Area Rapid Transit, 5.25%, 12/1/29 8,285,000 $10,437,029
Dallas County Utility & Reclamation District, 5.375%, 2/15/29 10,000,000 $11,033,147
Delaware State Economic Development Authority, 5.375%, 10/1/45 5,000,000 $5,350,083
Deschutes & Jefferson Counties School District No 2J Redmond Oregon, 3.0%, 6/15/32 3,000,000 $2,916,400
District of Columbia, 4.25%, 6/1/37 7,950,000 $8,037,556
District of Columbia Tobacco Settlement Financing Corp., 6.75%, 5/15/40 10,000,000 $10,142,000
Escambia County Health Facilities Authority, 6.0%, 8/15/36 3,000,000 $3,495,020
Florida's Turnpike Enterprise, 4.0%, 7/1/30 5,000,000 $5,315,600
Florida Development Finance Corp., 6.0%, 9/15/30 1,390,000 $1,456,396
Franklin-Mckinley School District, 6.0%, 7/1/16 645,000 $716,066
Fresno Joint Powers Financing Authority, 4.75%, 9/1/28 2,100,000 $2,072,368
FYI Properties, 5.5%, 6/1/39 10,000,000 $11,405,467
Golden State Tobacco Securitization Corp., 5.125%, 6/1/47 15,000,000 $11,142,625
Harris County Cultural Education Facilities Finance Corp., 5.0%, 6/1/28 1,000,000 $1,089,033
Harris County Cultural Education Facilities Finance Corp., 5.0%, 6/1/33 500,000 $530,762
Houston Higher Education Finance Corp., 5.0%, 5/15/35 2,750,000 $3,122,888
Houston Higher Education Finance Corp., 5.0%, 5/15/40 390,000 $440,304
Illinois Finance Authority, 5.25%, 5/1/40 1,000,000 $1,067,775
Illinois Finance Authority, 5.5%, 8/15/30 4,000,000 $4,285,124
Illinois Finance Authority, 6.0%, 8/15/25 1,600,000 $1,683,419
Illinois Finance Authority, 6.125%, 5/15/27 1,000,000 $1,024,011
Illinois Finance Authority, 6.5%, 4/1/39 5,000,000 $5,450,383
Indiana Bond Bank, 5.5%, 2/1/29 2,000,000 $2,326,480
Indiana Finance Authority, 6.0%, 12/1/26 2,000,000 $2,144,360
Indiana Health & Educational Facilities Financing Authority, 4.75%, 2/15/34 5,000,000 $5,176,064
Indiana Health & Educational Facilities Financing Authority, 5.0%, 2/15/39 7,000,000 $7,276,259
Indianapolis Local Public Improvement Bond Bank, 6.0%, 1/10/20 440,000 $494,934
Jefferson Parish Hospital Service District No 2, 6.375%, 7/1/41 6,000,000 $6,507,135
JobsOhio Beverage System, 5.0%, 1/1/38 10,000,000 $10,898,867
John Tolfree Health System Corp., 6.0%, 9/15/23 1,500,000 $1,534,345
King County Housing Authority, 5.5%, 5/1/38 10,000,000 $11,243,500
King County Public Hospital District No 1, 5.25%, 12/1/37 3,000,000 $3,189,750
King County School District No 411 Issaquah, 4.5%, 12/1/30 3,000,000 $3,358,875
Lehigh County Industrial Development Authority, 4.75%, 2/15/27 5,000,000 $5,138,114
Long Beach Bond Finance Authority, 5.5%, 11/15/37 3,000,000 $3,493,263
Louisiana Local Government Environmental Facilities & Community Development Authority, 5.25%, 12/1/1 615,000 $635,689
Louisiana Public Facilities Authority, 5.5%, 5/15/47 10,000,000 $10,577,511
Louisiana State Citizens Property Insurance Corp., 5.0%, 6/1/24 400,000 $458,745
Louisiana State Citizens Property Insurance Corp., 5.0%, 6/1/24 500,000 $577,567
Maine Health & Higher Educational Facilities Authority, 6.75%, 7/1/36 4,500,000 $4,978,013
Maine Health & Higher Educational Facilities Authority, 6.95%, 7/1/41 3,040,000 $3,377,293
Maricopa County Pollution Control Corp., 5.0%, 6/1/35 1,000,000 $1,070,543
Maryland Economic Development Corp., 5.0%, 12/1/16 400,000 $200,769
Maryland Economic Development Corp., 5.0%, 12/1/16 900,000 $451,731
Maryland Economic Development Corp., 5.0%, 12/1/31 1,000,000 $492,723
Maryland Economic Development Corp., 6.2%, 9/1/22 2,000,000 $2,435,327
Maryland Health & Higher Educational Facilities Authority, 5.0%, 11/15/51 6,250,000 $6,785,097
Massachusetts Development Finance Agency, 4.0%, 10/1/35 2,000,000 $2,029,347
Massachusetts Development Finance Agency, 4.0%, 9/1/49 2,500,000 $2,486,567
Massachusetts Development Finance Agency, 5.0%, 10/1/21 1,000,000 $1,193,187
Massachusetts Development Finance Agency, 5.0%, 10/1/22 1,000,000 $1,176,887
Massachusetts Development Finance Agency, 5.0%, 10/1/30 1,000,000 $1,087,397
Massachusetts Development Finance Agency, 5.0%, 10/1/48 4,000,000 $4,384,627
Massachusetts Development Finance Agency, 5.0%, 3/1/39 450,000 $502,778
Massachusetts Development Finance Agency, 5.0%, 6/1/25 1,585,000 $1,837,781
Massachusetts Development Finance Agency, 5.0%, 7/1/43 4,200,000 $4,727,128
Massachusetts Development Finance Agency, 5.0%, 7/1/44 4,000,000 $4,141,307
Massachusetts Development Finance Agency, 5.0%, 9/1/50 1,250,000 $1,369,654
Massachusetts Development Finance Agency, 5.125%, 7/1/26 1,000,000 $1,049,191
Massachusetts Development Finance Agency, 5.15%, 10/1/14 (Pre-Refunded) 125,000 $127,653
Massachusetts Development Finance Agency, 5.25%, 10/1/29 1,680,000 $1,765,630
Massachusetts Development Finance Agency, 5.25%, 10/1/37 3,320,000 $3,451,605
Massachusetts Development Finance Agency, 5.375%, 4/1/41 1,980,000 $2,204,209
Massachusetts Development Finance Agency, 5.5%, 1/1/35 500,000 $502,857
Massachusetts Development Finance Agency, 5.625%, 10/1/24 (Pre-Refunded) 1,100,000 $1,124,365
Massachusetts Development Finance Agency, 5.625%, 7/15/36 400,000 $428,688
Massachusetts Development Finance Agency, 5.7%, 10/1/34 (Pre-Refunded) 1,000,000 $1,021,480
Massachusetts Development Finance Agency, 5.75%, 1/1/42 6,185,000 $7,504,704
Massachusetts Development Finance Agency, 5.75%, 7/15/43 500,000 $538,148
Massachusetts Development Finance Agency, 6.25%, 10/15/17 2,400,000 $2,651,239
Massachusetts Development Finance Agency, 6.75%, 1/1/36 1,000,000 $1,175,265
Massachusetts Development Finance Agency, 7.0%, 7/1/42 1,000,000 $1,126,673
Massachusetts Health & Educational Facilities Authority, 4.125%, 10/1/37 2,000,000 $2,037,060
Massachusetts Health & Educational Facilities Authority, 4.625%, 8/15/28 4,500,000 $4,370,429
Massachusetts Health & Educational Facilities Authority, 5.25%, 7/1/38 3,750,000 $3,919,481
Massachusetts Health & Educational Facilities Authority, 5.375%, 7/1/35 2,335,000 $2,456,628
Massachusetts Health & Educational Facilities Authority, 5.5%, 11/15/36 3,400,000 $4,006,360
Massachusetts Health & Educational Facilities Authority, 5.5%, 7/1/32 12,000,000 $15,991,120
Massachusetts Health & Educational Facilities Authority, 5.5%, 7/1/36 1,000,000 $1,159,283
Massachusetts Port Authority, 5.0%, 7/1/32 1,000,000 $1,122,467
Massachusetts Port Authority, 5.0%, 7/1/33 1,000,000 $1,118,777
Massachusetts School Building Authority, 5.0%, 8/15/29 7,000,000 $8,290,349
Massachusetts State College Building Authority, 5.0%, 5/1/28 3,975,000 $4,634,969
Massachusetts Water Resources Authority, 5.25%, 8/1/36 2,420,000 $3,057,283
McGee Creek Authority, 6.0%, 1/1/23 5,165,000 $5,830,459
Metropolitan Pier & Exposition Authority, 0.0%, 6/15/39 20,000,000 $5,884,200
Metropolitan Pier & Exposition Authority, 7.0%, 7/1/26 (Pre-Refunded) 5,000,000 $6,756,767
Michigan Public Educational Facilities Authority, 5.875%, 6/1/37 3,165,000 $3,198,143
Michigan State Hospital Finance Authority, 5.25%, 11/15/25 2,000,000 $2,011,907
Michigan State Hospital Finance Authority, 5.5%, 11/15/35 1,000,000 $963,381
Missouri Development Finance Board, 5.25%, 11/1/42 2,000,000 $2,195,290
Missouri State Environmental Improvement & Energy Resources Authority, 5.125%, 1/1/20 75,000 $75,623
Mohegan Tribe of Indians of Connecticut, 6.25%, 1/1/31 2,470,000 $2,484,618
Monroe County Development Authority, Floating Rate Note, 7/1/25 2,000,000 $2,006,093
Montgomery County Industrial Development Authority Pennsylvania, 5.0%, 12/1/24 1,000,000 $1,035,053
Montgomery County Industrial Development Authority Pennsylvania, 5.0%, 12/1/30 1,000,000 $1,022,073
Multnomah County School District No 40, 0.0%, 6/15/30 2,000,000 $1,053,460
Multnomah County School District No 40, 0.0%, 6/15/31 2,000,000 $967,280
Multnomah County School District No 40, 0.0%, 6/15/32 1,715,000 $786,482
New Hampshire Health and Education Facilities Authority Act, 5.0%, 10/1/32 5,000,000 $5,316,783
New Hampshire Health and Education Facilities Authority Act, 5.0%, 10/1/37 3,750,000 $3,926,163
New Jersey Economic Development Authority, 5.3%, 11/1/26 475,000 $425,534
New Jersey Economic Development Authority, 5.375%, 11/1/36 450,000 $363,891
New Jersey Educational Facilities Authority, 5.0%, 7/1/39 3,000,000 $3,378,710
New Jersey Health Care Facilities Financing Authority, 5.25%, 7/1/30 5,115,000 $5,305,866
New Jersey Transportation Trust Fund Authority, 5.5%, 6/15/41 2,000,000 $2,229,376
New York State Dormitory Authority, 5.0%, 10/1/41 5,030,000 $5,640,575
New York State Dormitory Authority, 5.25%, 7/1/24 5,515,000 $6,272,623
North Texas Tollway Authority, 5.0%, 1/1/38 2,000,000 $2,147,453
Oregon Health & Science University, 4.0%, 7/1/31 1,000,000 $1,032,043
Pennsylvania Higher Educational Facilities Authority, 5.0%, 7/1/42 1,000,000 $1,019,467
Pennsylvania Higher Educational Facilities Authority, 6.0%, 7/1/43 1,000,000 $1,054,060
Pennsylvania Higher Educational Facilities Authority, Floating Rate Note, 7/1/39 11,500,000 $8,026,372
Pennsylvania Turnpike Commission, 5.3%, 12/1/41 5,000,000 $5,380,017
Philadelphia Authority for Industrial Development, 6.75%, 6/15/43 (144A) 1,000,000 $1,025,925
Philadelphia Hospitals & Higher Education Facilities Authority, 4.5%, 7/1/37 2,000,000 $2,051,860
Philadelphia Hospitals & Higher Education Facilities Authority, 5.0%, 7/1/34 5,000,000 $4,795,983
Pomona Unified School District, 6.55%, 8/1/29 2,180,000 $2,956,298
Port Authority of New York & New Jersey, 6.0%, 12/1/36 1,000,000 $1,163,430
Port Authority of New York & New Jersey, 6.0%, 12/1/42 3,400,000 $3,934,752
Port Authority of New York & New Jersey, 6.125%, 6/1/94 1,500,000 $1,765,618
Private Colleges & Universities Authority, 5.0%, 10/1/43 2,750,000 $3,119,068
Public Authority for Colorado Energy, 6.5%, 11/15/38 12,500,000 $16,385,153
Public Utility District No. 1 of Franklin County, 5.0%, 9/1/38 1,500,000 $1,628,030
Regional Transportation District, 6.0%, 1/15/26 2,500,000 $2,856,567
Regional Transportation District, 6.0%, 1/15/34 1,250,000 $1,392,671
Regional Transportation District, 6.0%, 1/15/41 1,000,000 $1,108,537
Regional Transportation District, 6.5%, 1/15/30 2,000,000 $2,304,338
Rialto Redevelopment Agency, 6.25%, 9/1/37 3,000,000 $3,329,975
San Jose Evergreen Community College District, 5.0%, 8/1/41 1,500,000 $1,682,355
Santa Cruz County Redevelopment Agency, 6.625%, 9/1/29 1,500,000 $1,785,201
Santa Maria Joint Union High School District, 0.0%, 8/1/27 1,405,000 $837,113
SHELL 200 $670,400
South Carolina State Public Service Authority, 5.0%, 12/1/43 8,265,000 $8,936,311
South Carolina State Public Service Authority, 5.5%, 12/1/54 5,000,000 $5,552,706
South Dakota Conservancy District, 5.625%, 8/1/17 (Pre-Refunded) 65,000 $67,122
State of Arkansas, 5.0%, 10/1/18 6,345,000 $7,497,929
State of Georgia, 4.0%, 10/1/22 5,000,000 $5,820,617
State of Georgia, 5.0%, 12/1/18 7,665,000 $9,032,845
State of Maryland, 4.5%, 8/1/19 3,500,000 $4,126,220
State of Maryland, 5.0%, 3/1/21 10,000,000 $12,245,022
State of Minnesota, 4.0%, 8/1/17 5,025,000 $5,635,538
State of South Carolina, 5.0%, 4/1/20 500,000 $604,778
State of Washington, 5.0%, 8/1/36 5,000,000 $5,749,050
St Johns County Industrial Development Authority, 6.0%, 8/1/45 3,400,000 $3,749,112
Sylacauga Health Care Authority, 6.0%, 8/1/35 (Pre-Refunded) 1,500,000 $1,627,140
Texas Municipal Gas Acquisition & Supply Corp III, 5.0%, 12/15/31 4,000,000 $4,266,676
Texas Private Activity Bond Surface Transportation Corp., 7.0%, 6/30/40 10,410,000 $12,425,769
Texas State Public Finance Authority Charter School Finance Corp., 6.2%, 2/15/40 2,255,000 $2,577,936
Texas Transportation Commission State Highway Fund, 5.0%, 4/1/23 4,500,000 $5,580,530
The Industrial Development Authority of the County of Pima, 6.1%, 6/1/45 500,000 $515,283
The Industrial Development Authority of the County of Pima, 6.75%, 7/1/31 19,000 $19,156
The University of Texas System, 5.0%, 8/15/20 6,100,000 $7,453,014
The University of Texas System, 5.0%, 8/15/24 5,000,000 $6,263,450
Tobacco Securitization Authority of Southern California, 5.0%, 6/1/37 3,750,000 $2,997,688
Tobacco Securitization Authority of Southern California, 5.125%, 6/1/46 1,125,000 $853,269
Tobacco Settlement Financing Corp. Rhode Island, 6.25%, 6/1/42 5,200,000 $5,253,751
Tobacco Settlement Financing Corp. Virginia, 5.0%, 6/1/47 13,990,000 $9,390,414
Town of Chatham Massachusetts, 3.5%, 6/15/37 2,000,000 $1,962,404
Town of Wilmington Massachusetts, 4.0%, 3/15/37 4,500,000 $4,644,815
University of Massachusetts Building Authority, 5.0%, 11/1/39 2,500,000 $2,803,500
University of Minnesota, 3.0%, 1/1/18 1,445,000 $1,553,953
University of Minnesota, 4.0%, 1/1/20 600,000 $679,758
University of Minnesota, 4.0%, 1/1/29 1,000,000 $1,072,150
University of Minnesota, 4.0%, 1/1/30 860,000 $916,984
University of Missouri, 5.0%, 11/1/25 5,500,000 $6,818,753
University of Virginia, 5.0%, 6/1/37 4,000,000 $4,593,293
University of Virginia, 5.0%, 6/1/43 5,000,000 $5,684,067
University of Washington, 5.0%, 6/1/37 5,600,000 $6,199,779
Utah State Charter School Finance Authority, 5.75%, 7/15/20 500,000 $541,458
Virginia Public School Authority, 4.0%, 8/1/25 5,000,000 $5,680,222
Washington County Industrial Development Authority Virginia, 7.75%, 7/1/38 7,500,000 $8,818,638
Washington Health Care Facilities Authority, 4.25%, 10/1/37 1,000,000 $1,025,827
Washington Health Care Facilities Authority, 5.25%, 10/1/33 5,000,000 $5,694,900
Washington Health Care Facilities Authority, 6.125%, 8/15/37 2,400,000 $2,587,087
Washington State Housing Finance Commission, 5.25%, 1/1/17 1,635,000 $1,647,222
Washington Suburban Sanitary Commission, 4.0%, 6/1/16 7,300,000 $7,869,854
Wisconsin Health & Educational Facilities Authority, 5.125%, 8/15/35 3,000,000 $3,251,976

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.