Pioneer AMT-Free Municipal Fund

Top 10 Portfolio Holdings as of 12/31/2014
Default: sorted by market value

Security Name Par / Shares Market Value
Adams-Friendship Area School District, 6.5%, 4/1/16 1,430,000 $1,556,913
Alameda Corridor Transportation Authority, 0.0%, 10/1/31 10,000,000 $5,075,500
Albany Industrial Development Agency, 5.25%, 11/15/32 2,500,000 $2,735,096
Allentown Area Hospital Authority, 6.0%, 11/15/16 (Pre-Refunded) 835,000 $878,217
Anaheim Public Financing Authority, 0.0%, 9/1/22 410,000 $335,741
Anaheim Public Financing Authority, 0.0%, 9/1/36 12,595,000 $4,761,792
Arizona Health Facilities Authority, 5.5%, 1/1/38 5,145,000 $5,709,767
Beaver County Industrial Development Authority, Floating Rate Note, 12/1/35 5,000,000 $5,168,183
BlackRock Liquidity Funds MuniFund Portfolio 12,500,000 $12,500,000
Buckeye Tobacco Settlement Financing Authority, 5.75%, 6/1/34 10,000,000 $8,086,717
Buckeye Tobacco Settlement Financing Authority, 6.5%, 6/1/47 6,000,000 $5,335,060
Burke County Development Authority, 7.0%, 1/1/23 5,750,000 $6,827,953
California County Tobacco Securitization Agency, 0.0%, 6/1/33 3,370,000 $927,424
California Health Facilities Financing Authority, 5.625%, 7/1/32 (Pre-Refunded) 2,000,000 $2,110,450
California Municipal Finance Authority, 5.25%, 2/1/37 4,000,000 $4,294,340
California Statewide Communities Development Authority, 5.0%, 5/15/30 4,875,000 $5,043,377
California Statewide Communities Development Authority, 5.75%, 7/1/47 10,000,000 $11,578,100
California Statewide Communities Development Authority, 5.75%, 8/15/38 4,000,000 $4,513,809
Central Texas Regional Mobility Authority, 0.0%, 1/1/25 7,100,000 $4,759,414
Central Texas Regional Mobility Authority, 0.0%, 1/1/26 3,550,000 $2,266,746
Central Texas Regional Mobility Authority, 0.0%, 1/1/27 3,000,000 $1,813,260
Central Texas Regional Mobility Authority, 6.75%, 1/1/41 2,500,000 $3,030,300
City of Pearland Texas, 4.0%, 3/1/29 5,000,000 $5,411,317
City of Phoenix Arizona, 4.0%, 7/1/21 5,000,000 $5,784,189
City of Raleigh North Carolina, 5.0%, 9/1/20 4,000,000 $4,834,707
City of Tallahassee Florida, 6.375%, 12/1/30 7,500,000 $7,567,969
Colorado Health Facilities Authority, Floating Rate Note, 11/15/35 2,750,000 $2,944,915
Commonwealth of Massachusetts, Floating Rate Note, 11/1/25 6,400,000 $6,295,167
County of Cuyahoga Ohio, 6.0%, 5/15/37 1,500,000 $1,553,005
County of Cuyahoga Ohio, 6.0%, 5/15/42 1,500,000 $1,549,960
County of Fairfax Virginia, 4.0%, 4/1/19 7,765,000 $8,730,655
County of Florence South Carolina, 4.0%, 6/1/20 7,500,000 $8,477,125
County of Frederick Maryland, 5.625%, 9/1/38 3,000,000 $3,069,000
County of Lake Ohio, 6.0%, 8/15/43 5,000,000 $5,666,133
County of Madison Florida, 6.0%, 7/1/25 445,000 $307,184
County of McLean North Dakota, 5.15%, 7/1/40 5,000,000 $5,472,200
County of Miami-Dade Florida Aviation Revenue, 5.5%, 10/1/41 5,000,000 $5,756,850
County of Warren Mississippi, 5.8%, 5/1/34 2,750,000 $3,133,093
Dallas Area Rapid Transit, 5.25%, 12/1/29 8,285,000 $10,723,483
Dallas County Utility & Reclamation District, 5.375%, 2/15/29 10,000,000 $10,902,356
Delaware State Economic Development Authority, 5.375%, 10/1/45 5,000,000 $5,535,038
Deschutes & Jefferson Counties School District No 2J Redmond Oregon, 3.0%, 6/15/32 3,000,000 $3,013,690
District of Columbia, 4.25%, 6/1/37 7,950,000 $8,100,189
District of Columbia Tobacco Settlement Financing Corp., 6.75%, 5/15/40 10,000,000 $10,085,350
Escambia County Health Facilities Authority, 6.0%, 8/15/36 3,000,000 $3,537,050
Florida's Turnpike Enterprise, 4.0%, 7/1/30 5,000,000 $5,495,217
Florida Development Finance Corp., 6.0%, 9/15/30 1,390,000 $1,486,211
Franklin-Mckinley School District, 6.0%, 7/1/16 645,000 $716,892
Fresno Joint Powers Financing Authority, 4.75%, 9/1/28 2,100,000 $2,133,250
FYI Properties, 5.5%, 6/1/39 10,000,000 $11,403,733
Golden State Tobacco Securitization Corp., 5.125%, 6/1/47 15,000,000 $11,420,563
Harris County Cultural Education Facilities Finance Corp., 5.0%, 6/1/28 1,000,000 $1,107,307
Harris County Cultural Education Facilities Finance Corp., 5.0%, 6/1/33 500,000 $542,698
Health & Educational Facilities Authority of the State of Missouri, 4.0%, 11/15/45 8,550,000 $8,439,667
Houston Higher Education Finance Corp., 5.0%, 5/15/35 2,750,000 $3,142,394
Illinois Finance Authority, 5.25%, 5/1/40 1,000,000 $1,085,600
Illinois Finance Authority, 5.5%, 8/15/30 4,000,000 $4,481,511
Illinois Finance Authority, 6.0%, 8/15/25 1,600,000 $1,671,611
Illinois Finance Authority, 6.125%, 5/15/27 (Pre-Refunded) 1,000,000 $1,014,436
Illinois Finance Authority, 6.5%, 4/1/39 5,000,000 $5,575,900
Indiana Bond Bank, 5.5%, 2/1/29 2,000,000 $2,308,793
Indiana Finance Authority, 6.0%, 12/1/26 2,000,000 $2,248,320
Indiana Health & Educational Facilities Financing Authority, 4.75%, 2/15/34 5,000,000 $5,200,472
Indiana Health & Educational Facilities Financing Authority, 5.0%, 2/15/39 7,000,000 $7,315,062
Indianapolis Local Public Improvement Bond Bank, 6.0%, 1/10/20 380,000 $431,053
Jefferson Parish Hospital Service District No 2, 6.375%, 7/1/41 6,000,000 $7,141,050
JobsOhio Beverage System, 5.0%, 1/1/38 10,000,000 $11,526,700
John Tolfree Health System Corp., 6.0%, 9/15/23 1,385,000 $1,410,535
King County Housing Authority, 5.5%, 5/1/38 10,000,000 $11,184,567
King County Public Hospital District No 1, 5.25%, 12/1/37 3,000,000 $3,234,225
King County School District No 411 Issaquah, 4.5%, 12/1/30 3,000,000 $3,505,245
Lehigh County Industrial Development Authority, 4.75%, 2/15/27 5,000,000 $5,098,272
Long Beach Bond Finance Authority, 5.5%, 11/15/37 3,000,000 $3,716,963
Louisiana Local Government Environmental Facilities & Community Development Authority, 5.25%, 12/1/1 615,000 $639,462
Louisiana Public Facilities Authority, 5.5%, 5/15/47 10,000,000 $10,589,678
Louisiana State Citizens Property Insurance Corp., 5.0%, 6/1/24 400,000 $463,775
Louisiana State Citizens Property Insurance Corp., 5.0%, 6/1/24 500,000 $585,788
Maine Health & Higher Educational Facilities Authority, 6.75%, 7/1/36 4,500,000 $5,306,985
Maine Health & Higher Educational Facilities Authority, 6.95%, 7/1/41 3,040,000 $3,619,880
Maricopa County Pollution Control Corp., 5.0%, 6/1/35 1,000,000 $1,126,827
Maryland Economic Development Corp., 5.0%, 12/1/16 400,000 $188,987
Maryland Economic Development Corp., 5.0%, 12/1/16 900,000 $425,220
Maryland Economic Development Corp., 5.0%, 12/1/31 1,000,000 $472,467
Maryland Economic Development Corp., 6.2%, 9/1/22 2,000,000 $2,418,373
Maryland Health & Higher Educational Facilities Authority, 5.0%, 11/15/51 6,250,000 $6,938,243
Massachusetts Department of Transportation, 0.0%, 1/1/28 5,000,000 $3,399,450
Massachusetts Development Finance Agency, 3.5%, 7/1/44 3,000,000 $2,878,703
Massachusetts Development Finance Agency, 4.0%, 10/1/35 2,000,000 $2,081,800
Massachusetts Development Finance Agency, 4.0%, 9/1/49 2,500,000 $2,578,158
Massachusetts Development Finance Agency, 5.0%, 10/1/21 1,000,000 $1,189,790
Massachusetts Development Finance Agency, 5.0%, 10/1/22 1,000,000 $1,178,000
Massachusetts Development Finance Agency, 5.0%, 10/1/30 1,000,000 $1,108,230
Massachusetts Development Finance Agency, 5.0%, 10/1/48 4,000,000 $4,500,640
Massachusetts Development Finance Agency, 5.0%, 3/1/39 450,000 $518,331
Massachusetts Development Finance Agency, 5.0%, 6/1/25 1,585,000 $1,849,119
Massachusetts Development Finance Agency, 5.0%, 7/1/43 4,200,000 $4,931,136
Massachusetts Development Finance Agency, 5.0%, 7/1/44 4,000,000 $4,368,000
Massachusetts Development Finance Agency, 5.0%, 9/1/50 1,250,000 $1,400,321
Massachusetts Development Finance Agency, 5.125%, 7/1/26 1,000,000 $1,110,605
Massachusetts Development Finance Agency, 5.25%, 10/1/29 1,680,000 $1,832,166
Massachusetts Development Finance Agency, 5.25%, 10/1/37 3,320,000 $3,607,130
Massachusetts Development Finance Agency, 5.375%, 4/1/41 1,980,000 $2,268,481
Massachusetts Development Finance Agency, 5.5%, 1/1/35 500,000 $514,150
Massachusetts Development Finance Agency, 5.625%, 7/15/36 400,000 $457,915
Massachusetts Development Finance Agency, 5.75%, 1/1/42 6,185,000 $8,162,777
Massachusetts Development Finance Agency, 5.75%, 7/15/43 500,000 $574,092
Massachusetts Development Finance Agency, 6.25%, 10/15/17 1,855,000 $2,022,236
Massachusetts Development Finance Agency, 6.75%, 1/1/36 1,000,000 $1,226,160
Massachusetts Development Finance Agency, 7.0%, 7/1/42 1,000,000 $1,173,870
Massachusetts Health & Educational Facilities Authority, 4.125%, 10/1/37 2,000,000 $2,096,485
Massachusetts Health & Educational Facilities Authority, 4.625%, 8/15/28 4,500,000 $4,596,670
Massachusetts Health & Educational Facilities Authority, 5.25%, 7/1/38 3,750,000 $4,047,675
Massachusetts Health & Educational Facilities Authority, 5.375%, 7/1/35 2,335,000 $2,571,547
Massachusetts Health & Educational Facilities Authority, 5.5%, 11/15/36 3,400,000 $3,967,010
Massachusetts Health & Educational Facilities Authority, 5.5%, 7/1/32 12,000,000 $16,909,800
Massachusetts Health & Educational Facilities Authority, 5.5%, 7/1/36 (Pre-Refunded) 1,000,000 $1,184,140
Massachusetts Port Authority, 5.0%, 7/1/32 1,000,000 $1,168,540
Massachusetts Port Authority, 5.0%, 7/1/33 1,000,000 $1,165,640
Massachusetts School Building Authority, 5.0%, 8/15/29 7,000,000 $8,407,622
Massachusetts State College Building Authority, 5.0%, 5/1/28 3,975,000 $4,735,351
Massachusetts Water Resources Authority, 5.25%, 8/1/36 2,420,000 $3,215,031
McGee Creek Authority, 6.0%, 1/1/23 4,715,000 $5,393,362
Metropolitan Pier & Exposition Authority, 0.0%, 6/15/39 20,000,000 $6,436,600
Metropolitan Pier & Exposition Authority, 7.0%, 7/1/26 (Pre-Refunded) 5,000,000 $6,855,000
Michigan Public Educational Facilities Authority, 5.875%, 6/1/37 3,165,000 $3,221,450
Michigan State Hospital Finance Authority, 5.25%, 11/15/25 2,000,000 $2,016,317
Michigan State Hospital Finance Authority, 5.5%, 11/15/35 1,000,000 $1,007,918
Missouri Development Finance Board, 5.25%, 11/1/42 2,000,000 $2,258,780
Missouri State Environmental Improvement & Energy Resources Authority, 5.125%, 1/1/20 75,000 $77,225
Mohegan Tribe of Indians of Connecticut, 6.25%, 1/1/31 2,470,000 $2,546,990
Monroe County Development Authority, Floating Rate Note, 7/1/25 2,000,000 $2,082,880
Montgomery County Industrial Development Authority Pennsylvania, 5.0%, 12/1/24 1,000,000 $1,030,417
Montgomery County Industrial Development Authority Pennsylvania, 5.0%, 12/1/30 1,000,000 $1,023,857
Multnomah County School District No 40, 0.0%, 6/15/30 2,000,000 $1,141,780
Multnomah County School District No 40, 0.0%, 6/15/31 2,000,000 $1,071,560
Multnomah County School District No 40, 0.0%, 6/15/32 1,715,000 $873,295
New Hampshire Health and Education Facilities Authority Act, 5.0%, 10/1/32 5,000,000 $5,406,300
New Hampshire Health and Education Facilities Authority Act, 5.0%, 10/1/37 3,750,000 $4,013,625
New Jersey Economic Development Authority, 5.3%, 11/1/26 475,000 $436,617
New Jersey Economic Development Authority, 5.375%, 11/1/36 450,000 $377,585
New Jersey Educational Facilities Authority, 5.0%, 7/1/39 3,000,000 $3,512,700
New Jersey Health Care Facilities Financing Authority, 5.25%, 7/1/30 5,115,000 $5,608,649
New Jersey Transportation Trust Fund Authority, 5.5%, 6/15/41 2,000,000 $2,263,769
New York State Dormitory Authority, 5.0%, 10/1/41 5,030,000 $5,841,741
New York State Dormitory Authority, 5.25%, 7/1/24 5,515,000 $6,499,152
North Texas Tollway Authority, 5.0%, 1/1/38 2,000,000 $2,253,080
Oregon Health & Science University, 4.0%, 7/1/31 1,000,000 $1,081,880
Pennsylvania Higher Educational Facilities Authority, 5.0%, 7/1/42 1,000,000 $1,075,950
Pennsylvania Higher Educational Facilities Authority, 6.0%, 7/1/43 1,000,000 $1,125,800
Pennsylvania Higher Educational Facilities Authority, Floating Rate Note, 7/1/39 11,500,000 $9,135,676
Pennsylvania Turnpike Commission, 5.3%, 12/1/41 5,000,000 $5,632,333
Philadelphia Authority for Industrial Development, 5.0%, 7/1/42 2,500,000 $2,889,175
Pomona Unified School District, 6.55%, 8/1/29 2,180,000 $2,962,929
Port Authority of New York & New Jersey, 6.125%, 6/1/94 1,500,000 $1,793,301
Private Colleges & Universities Authority, 5.0%, 10/1/43 2,750,000 $3,186,535
Public Utility District No. 1 of Franklin County, 5.0%, 9/1/38 1,500,000 $1,678,915
Regional Transportation District, 6.0%, 1/15/26 2,500,000 $2,948,017
Regional Transportation District, 6.0%, 1/15/34 1,250,000 $1,452,108
Regional Transportation District, 6.0%, 1/15/41 1,000,000 $1,150,937
Regional Transportation District, 6.5%, 1/15/30 2,000,000 $2,389,164
Rialto Redevelopment Agency, 6.25%, 9/1/37 3,000,000 $3,442,210
San Jose Evergreen Community College District, 5.0%, 8/1/41 1,500,000 $1,725,740
Santa Cruz County Redevelopment Agency, 6.625%, 9/1/29 1,500,000 $1,794,125
Santa Maria Joint Union High School District, 0.0%, 8/1/27 1,405,000 $895,322
SHELL 200 $578,000
South Carolina State Public Service Authority, 5.0%, 12/1/43 8,265,000 $9,216,853
South Carolina State Public Service Authority, 5.5%, 12/1/54 5,000,000 $5,793,067
South Dakota Conservancy District, 5.625%, 8/1/17 (Pre-Refunded) 65,000 $66,815
State of Arkansas, 5.0%, 10/1/18 6,345,000 $7,344,655
State of Connecticut, 4.0%, 9/1/30 5,000,000 $5,506,933
State of Georgia, 4.0%, 10/1/22 5,000,000 $5,832,500
State of Georgia, 5.0%, 12/1/18 7,665,000 $8,854,506
State of Maryland, 4.5%, 8/1/19 3,500,000 $4,065,110
State of Maryland, 5.0%, 3/1/21 10,000,000 $12,181,967
State of Minnesota, 4.0%, 8/1/17 5,025,000 $5,530,649
State of South Carolina, 5.0%, 4/1/20 500,000 $597,675
State of Washington, 5.0%, 8/1/36 5,000,000 $5,896,817
St Johns County Industrial Development Authority, 6.0%, 8/1/45 3,400,000 $3,921,764
Sylacauga Health Care Authority, 6.0%, 8/1/35 (Pre-Refunded) 1,500,000 $1,587,855
Texas Municipal Gas Acquisition & Supply Corp III, 5.0%, 12/15/31 4,000,000 $4,399,049
Texas Private Activity Bond Surface Transportation Corp., 7.0%, 6/30/40 10,410,000 $12,917,087
Texas State Public Finance Authority Charter School Finance Corp., 6.2%, 2/15/40 2,255,000 $2,656,102
Texas Transportation Commission State Highway Fund, 5.0%, 4/1/23 4,500,000 $5,602,275
The Industrial Development Authority of the County of Pima, 6.1%, 6/1/45 500,000 $526,692
The Industrial Development Authority of the County of Pima, 6.75%, 7/1/31 19,000 $19,757
The University of Texas System, 5.0%, 8/15/20 6,100,000 $7,373,673
The University of Texas System, 5.0%, 8/15/24 5,000,000 $6,336,994
Tobacco Securitization Authority of Southern California, 5.0%, 6/1/37 3,750,000 $3,074,013
Tobacco Securitization Authority of Southern California, 5.125%, 6/1/46 1,125,000 $883,306
Tobacco Settlement Financing Corp. Rhode Island, 6.25%, 6/1/42 5,200,000 $5,239,823
Tobacco Settlement Financing Corp. Virginia, 5.0%, 6/1/47 13,990,000 $9,895,500
Town of Chatham Massachusetts, 3.5%, 6/15/37 2,000,000 $2,030,571
Town of Wilmington Massachusetts, 4.0%, 3/15/37 4,500,000 $4,750,415
University of Massachusetts Building Authority, 5.0%, 11/1/39 2,500,000 $2,865,608
University of Minnesota, 3.0%, 1/1/18 1,445,000 $1,552,961
University of Minnesota, 4.0%, 1/1/20 600,000 $685,675
University of Minnesota, 4.0%, 1/1/29 1,000,000 $1,112,661
University of Minnesota, 4.0%, 1/1/30 860,000 $953,311
University of Missouri, 5.0%, 11/1/25 5,500,000 $6,911,703
University of Virginia, 5.0%, 6/1/37 4,000,000 $4,701,827
University of Virginia, 5.0%, 6/1/43 5,000,000 $5,812,033
University of Washington, 5.0%, 6/1/37 5,600,000 $6,132,821
Upper Occoquan Sewage Authority, 4.0%, 7/1/41 5,000,000 $5,303,794
Utah State Charter School Finance Authority, 5.75%, 7/15/20 500,000 $556,852
Virginia Public School Authority, 4.0%, 8/1/25 5,000,000 $5,817,533
Washington County Industrial Development Authority Virginia, 7.75%, 7/1/38 7,500,000 $9,176,925
Washington Health Care Facilities Authority, 5.25%, 10/1/33 5,000,000 $5,652,425
Washington Health Care Facilities Authority, 6.125%, 8/15/37 2,400,000 $2,690,349
Washington State Housing Finance Commission, 5.25%, 1/1/17 1,140,000 $1,202,367
Washington Suburban Sanitary Commission, 4.0%, 6/1/16 7,300,000 $7,701,524
Washington Suburban Sanitary Commission, 4.0%, 6/1/43 3,880,000 $4,091,430
Washington Suburban Sanitary Commission, 4.0%, 6/1/44 3,735,000 $3,935,466
Wisconsin Health & Educational Facilities Authority, 5.125%, 8/15/35 3,000,000 $3,307,983

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