Pioneer Emerging Markets Fund

Top 10 Portfolio Holdings as of 3/31/2015
Default: sorted by market value

Security Name Par / Shares Market Value
Air Arabia PJSC 8,700,843 $3,356,042
Astaldi S.p.A. 966,078 $8,168,000
ChinaCache International Holdings, Ltd. (A.D.R.) 272,368 $3,233,008
China Conch Venture Holdings, Ltd. 4,032,000 $8,618,886
China Construction Bank Corp. 1,571,000 $1,305,484
China ITS Holdings Co, Ltd. 54,262,000 $6,929,241
Credicorp, Ltd. 5,556 $781,340
Credito Real SAB de CV SOFOM ER 2,753 $6,494
Emaar Properties PJSC 466,088 $832,457
Flour Mills of Nigeria Plc 95,298 $16,838
Global Telecom Holding SAE (G.D.R.) 3,217,878 $7,078,283
Goodbaby International Holdings, Ltd. 28,096,000 $9,089,498
Grupo Financiero Banorte SAB de CV 145,039 $841,170
Hikma Pharmaceuticals Plc 42,574 $1,342,328
Hon Hai Precision Industry Co, Ltd. 681 $1,993
HSBC Bank Plc, 3/5/18 55,829 $1,979,593
HSBC Bank Plc, 6/29/17 36,809 $946,991
Huaneng Renewables Corp, Ltd. 17,520,000 $6,346,627
HYPERMARCAS SA, 10/15/15 562 $0
HYPERMARCAS SA, 11.3%, 10/15/18 562,000 $100,173
HYPERMARCAS SA, 3.0%, 10/15/15 562,000 $228,156
Hyundai Motor Co. 13,239 $1,360,699
ICICI Bank, Ltd. 271,515 $1,370,627
IRB Infrastructure Developers, Ltd. 75,965 $297,544
KenolKobil, Ltd. Group 33,237,504 $3,371,599
Marfrig Global Foods SA 2,000,191 $2,525,360
Mega Financial Holding Co, Ltd. 415 $344
MMG, Ltd. 21,124,000 $6,949,066
NagaCorp, Ltd. 393 $261
OHL Mexico SAB de CV 3,598,250 $6,802,774
Petroleo Brasileiro SA 2,301 $6,997
Philippine National Bank 4,550,659 $7,883,496
PhosAgro OAO (G.D.R.) 1,065,206 $11,996,324
Samsung Electronics Co, Ltd. 2,118 $2,103,707
TBC Bank JSC (G.D.R.) 587,765 $6,760,041
TMK OAO (G.D.R.) 1,958,983 $5,856,691
Tupy SA 1,345,143 $6,894,181
United Bank for Africa Plc 86,254,199 $1,759,317
Wonik IPS Co, Ltd. 550,191 $5,492,052

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

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