Pioneer Global High Yield Fund

Top 10 Portfolio Holdings as of 12/31/2015
Default: sorted by market value

Security Name Par / Shares Market Value
14112z Zero% 01feb19 3,900,000 $4,536,090
17079z Zero% 31mar18 2,400,000 $2,675,520
AAF Holdings LLC, 12.375%, 7/1/19 (144A) (PIK) 2,608,675 $2,621,718
Abengoa Finance SAU, 6.0%, 3/31/21 (144A) 640,000 $92,346
Abengoa Finance SAU, 8.875%, 11/1/17 (144A) 6,900,000 $1,119,813
Access Bank Plc, Floating Rate Note, 6/24/21 (144A) 3,485,000 $2,999,012
Acgl Zero% 01jul16 1,300,000 $1,451,190
Advanced Micro Devices, Inc., 6.75%, 3/1/19 955,000 $713,863
AdvancePierre Foods, Inc., Term Loan (First Lien), 7/10/17 1,019,237 $1,018,982
AEP Industries, Inc., 8.25%, 4/15/19 3,355,000 $3,505,695
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 3,775,000 $2,804,904
AES Corp. Virginia, 5.5%, 4/15/25 3,000,000 $2,682,333
Affinion Group, Inc., Tranche B Term Loan, 4/30/18 2,154,613 $1,995,710
Africa Finance Corp., 4.375%, 4/29/20 (144A) 1,845,000 $1,864,031
Agrokor dd, 8.875%, 2/1/20 (144A) 1,960,000 $2,154,979
Agrokor dd, 9.875%, 5/1/19 (144A) 3,200,000 $3,771,063
Aguila 3 SA, 7.875%, 1/31/18 (144A) 6,100,000 $6,316,741
Aircraft Finance Trust, Floating Rate Note, 5/15/24 11,396,000 $1,578,551
Alamo Re, Ltd., Floating Rate Note, 6/7/18 (Cat Bond) (144A) 450,000 $463,131
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 995,000 $963,160
Alfa Bank AO Via Alfa Bond Issuance Plc, 7.5%, 9/26/19 (144A) 4,000,000 $4,143,847
Alliance HealthCare Services, Inc., Initial Term Loan, 6/3/19 1,012,213 $966,663
Alliance One International, Inc., 9.875%, 7/15/21 7,165,000 $5,592,531
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3,150 $3,137
Ally Financial, Inc., 4.125%, 3/30/20 1,200,000 $1,206,513
Ally Financial, Inc., 4.625%, 5/19/22 150,000 $151,559
Ally Financial, Inc., 5.75%, 11/20/25 1,395,000 $1,421,573
Alpha Natural Resources, Inc., 6.0%, 6/1/19 315,000 $11,813
Altice Financing SA, 6.5%, 1/15/22 (144A) 2,800,000 $2,855,922
Altice Financing SA, 6.625%, 2/15/23 (144A) 320,000 $321,300
Altice Finco SA, 8.125%, 1/15/24 (144A) 600,000 $602,979
Altrl Zero% 30jun16 3,314,020 $231,981
Altrl Zero% 30jun17 1,669,824 $1,980,745
Antero Resources Corp., 5.625%, 6/1/23 (144A) 1,750,000 $1,373,203
Apex Tool Group LLC, 7.0%, 2/1/21 (144A) 4,440,000 $3,548,300
A Preference Tig Finco 1,390 $0
A Preference Tig Finco 4,840 $1,141
Arcos Dorados Holdings, Inc., 10.25%, 7/13/16 (144A) 4,250,000 $1,039,225
Ardagh Finance Holdings SA, 8.375%, 6/15/19 (144A) (PIK) 452,686 $521,936
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 3,362,015 $3,326,557
Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A) 2,400,000 $419,906
Ardagh Packaging Finance Plc, 9.25%, 10/15/20 (144A) 2,100,000 $2,427,467
Ardent Legacy Acquisitions Inc 1st Lien Tl-B L + 5.5% 31jul21 473,469 $471,102
Argos Merger Sub, Inc., 7.125%, 3/15/23 (144A) 2,285,000 $2,313,515
Ascent Resources - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 2,818,475 $61,067
Audatex North America, Inc., 6.0%, 6/15/21 (144A) 2,100,000 $2,121,350
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 3,710,000 $2,676,610
Ball Corp., 5.25%, 7/1/25 2,775,000 $2,912,709
Banco Macro SA, Floating Rate Note, 12/18/36 820,000 $806,487
Banco Nacional de Costa Rica, 6.25%, 11/1/23 (144A) 2,000,000 $1,940,833
Banco Santander SA, Floating Rate Note (Perpetual) 2,400,000 $2,297,850
Bank of America Corp., Floating Rate Note, 10/23/49 2,525,000 $2,691,720
Bank of America Corp., Floating Rate Note, 9/29/49 3,425,000 $3,502,538
Banque Centrale de Tunisie International Bond, 5.75%, 1/30/25 (144A) 2,655,000 $2,361,856
BBVA Bancomer SA Texas, 6.75%, 9/30/22 (144A) 1,250,000 $1,396,328
Belden, Inc., 5.25%, 7/15/24 (144A) 1,000,000 $944,208
Belden, Inc., 5.5%, 4/15/23 1,800,000 $1,995,673
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 417,670 $382,690
BioScrip, Inc., Initial Term B Loan, 7/31/20 696,116 $637,816
Blue Cube Spinco, Inc., 10.0%, 10/15/25 (144A) 460,000 $517,500
Blue Cube Spinco, Inc., 9.75%, 10/15/23 (144A) 460,000 $507,438
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 475,000 $476,065
Boing Group Financing Plc, 6.625%, 7/15/19 (144A) 3,285,000 $3,445,596
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 2,165,000 $1,177,670
B Preference Tig Finco 4,613,242 $6,662,111
BreitBurn Energy Partners LP, 7.875%, 4/15/22 2,830,000 $556,449
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 715,000 $691,147
Bumi Resources Tbk PT, Loan, 11/4/16 4,700,000 $1,010,500
C&S Group Enterprises LLC, 5.375%, 7/15/22 (144A) 2,535,000 $2,344,329
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 4,025,000 $3,556,982
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 3,045,000 $3,392,544
Cardtronics, Inc., 5.125%, 8/1/22 3,100,000 $3,057,698
Carrizo Oil & Gas, Inc., 6.25%, 4/15/23 3,225,000 $2,654,802
CCOH Safari LLC, 5.75%, 2/15/26 (144A) 2,615,000 $2,638,662
CEDC Finance Corp International, Inc., 10.0%, 4/30/18 (PIK) 2,632,642 $1,281,950
CEDC Finance Corp International, Inc., 10.0%, 4/30/18 (Step) 4,829,992 $4,203,301
Cemex SAB de CV, 3.72%, 3/15/20 5,625,000 $4,473,722
Cengage Learning Holdings II, Inc. 11,492 $270,119
CenturyLink, Inc., 5.625%, 4/1/25 2,260,000 $1,941,481
CEVA GROUP Plc 1,584 $712,643
CEVA GROUP Plc, 0.0%, 12/31/14 3,428 $1,542,677
CFG Investment SAC, 9.75%, 7/30/19 (144A) 4,450,000 $2,273,486
Charter Communications Operating L 1st Lien Bridge L + 6.625% 26may16 8,860,000 $8,860,000
Chiquita Brands International, Inc., 7.875%, 2/1/21 1,246,000 $1,346,069
CHS, 6.875%, 2/1/22 1,915,000 $1,871,713
Cimpress NV, 7.0%, 4/1/22 (144A) 3,650,000 $3,567,875
Cincinnati Bell, Inc., 8.375%, 10/15/20 2,790,000 $2,902,104
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18 (144A) 6,950,000 $5,436,242
Citigroup, Inc., Floating Rate Note (Perpetual) 1,200,000 $1,209,408
Citigroup, Inc., Floating Rate Note (Perpetual) 2,150,000 $2,160,296
Citigroup, Inc., Floating Rate Note (Perpetual) 140,119 $3,924,733
Citigroup Commercial Mortgage Trust 2014-GC23 REMICS, Floating Rate Note, 7/12/47 (144A) 1,500,000 $965,409
Citrix Systems, Inc., 0.5%, 4/15/19 1,840,000 $2,002,942
Cliffs Natural Resources, Inc., 8.25%, 3/31/20 (144A) 2,800,000 $2,193,392
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 455,000 $418,206
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 1,480,000 $1,424,523
Cobalt International Energy, Inc., 2.625%, 12/1/19 4,155,000 $2,338,486
CommScope, Inc., 5.0%, 6/15/21 (144A) 1,475,000 $1,417,434
CommScope Technologies Finance LLC, 6.0%, 6/15/25 (144A) 1,560,000 $1,505,660
Comstock Resources, Inc., 7.75%, 4/1/19 4,240,000 $718,150
Comstock Resources, Inc., 9.5%, 6/15/20 374,000 $66,094
Continental Airlines 1998-1 Class B Pass Through Trust, 6.748%, 3/15/17 10,600,000 $1,276,178
ContourGlobal Power Holdings SA, 7.125%, 6/1/19 (144A) 1,610,000 $1,539,059
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 5,750,000 $5,829,503
Countrywide Asset-Backed Certificates, Floating Rate Note, 11/25/34 1,700,000 $1,140,980
Credit Agricole SA, Floating Rate Note (Perpetual) (144A) 1,500,000 $1,476,708
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 12/15/35 (144A) 9,000,000 $6,099,739
CWGS Group LLC, Term Loan, 2/20/20 4,655,833 $4,626,734
Darling Global Finance BV, 4.75%, 5/30/22 6,945,000 $7,311,315
Denbury Resources, Inc., 5.5%, 5/1/22 3,595,000 $1,226,422
Desarrolladora Homex SAB de CV, 0.0%, 12/11/19 (144A) 9,802,000 $2,992,333
Digicel, Ltd., 6.0%, 4/15/21 (144A) 3,320,000 $2,839,153
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 1,335,000 $1,150,603
DPx Holdings BV, 7.5%, 2/1/22 (144A) 4,980,000 $5,011,125
DynCorp International, Inc., 10.375%, 7/1/17 2,433,000 $1,926,632
EC Finance Plc, 5.125%, 7/15/21 (144A) 3,695,000 $4,240,197
Ecuador Government International Bond, 10.5%, 3/24/20 (144A) 1,220,000 $1,016,616
Edenre Zero% 23apr19 144a 800,000 $800,000
Electricite de France SA, Floating Rate Note (Perpetual) (144A) 3,725,000 $3,584,071
Empresa de Telecomunicaciones de Bogota, 7.0%, 1/17/23 (144A) 1,626,000,000 $462,478
Empresa Electrica Angamos SA, 4.875%, 5/25/29 (144A) 1,830,000 $1,641,440
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 6,450,000 $1,605,029
Endo Finance LLC, 5.375%, 1/15/23 (144A) 6,165,000 $6,208,712
Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 2,995,000 $3,481,168
Entegris, Inc., 6.0%, 4/1/22 (144A) 930,000 $955,575
EP Energy LLC, 9.375%, 5/1/20 3,450,000 $2,253,281
EPL Oil & Gas, Inc., 8.25%, 2/15/18 4,980,000 $1,474,910
EP PetroEcuador via Noble Sovereign Funding I, Ltd., Floating Rate Note, 9/24/19 2,510,000 $1,627,636
EQTY 2014-INNS Mortgage Trust, Floating Rate Note, 5/8/31 (144A) 1,175,000 $1,166,994
EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/10/19 (144A) 840,000 $775,575
Equinix, Inc., 5.375%, 1/1/22 1,600,000 $1,683,000
Equinix, Inc., 5.375%, 4/1/23 1,455,000 $1,503,652
European Bank for Reconstruction & Development, 6.0%, 3/3/16 178,400,000 $2,827,869
Evraz Inc NA Canada, 7.5%, 11/15/19 (144A) 2,300,000 $2,172,542
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 4,373,318 $4,351,451
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 5,800,000 $6,270,646
Far East Capital, Ltd. SA, 8.0%, 5/2/18 2,700,000 $1,682,400
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 3,370,000 $3,121,463
Flt% 15jun16 500,000 $505,150
FMG Resources August 2006 Pty, Ltd., 9.75%, 3/1/22 (144A) 3,470,000 $3,287,825
FMG Resources August 2006 Pty, Ltd., Loan, 6/30/19 435,274 $326,757
Ford Motor Co. 301,939 $4,254,321
FPL Energy National Wind Portfolio LLC, 6.125%, 3/25/19 (144A) 1,865,000 $65,385
FPL Energy Wind Funding LLC, 6.876%, 6/27/17 (144A) 2,465,000 $166,635
Fresnillo Plc, 5.5%, 11/13/23 (144A) 1,825,000 $1,847,508
Frontier Communications Corp., 8.5%, 4/15/20 2,690,000 $2,744,996
Frontier Communications Corp., 8.75%, 4/15/22 10,145,000 $9,571,526
GCI, Inc., 6.75%, 6/1/21 500,000 $510,313
GCI, Inc., 6.875%, 4/15/25 4,275,000 $4,433,234
General Cable Corp., 4.5%, 11/15/29 (Step) 1,250,000 $773,594
General Cable Corp., 5.75%, 10/1/22 3,250,000 $2,549,219
GeoPark Latin America, Ltd. Agencia en Chile, 7.5%, 2/11/20 (144A) 3,260,000 $2,352,633
Global Partners LP, 7.0%, 6/15/23 2,645,000 $2,177,129
GMAC Capital Trust I, Floating Rate Note, 2/15/40 355,600 $9,018,016
Golar LNG, Ltd., 3.75%, 3/7/17 2,800,000 $2,480,712
Golar LNG Partners LP, Floating Rate Note, 10/12/17 13,000,000 $1,497,849
Gol LuxCo SA, 8.875%, 1/24/22 (144A) 3,525,000 $1,652,185
Griffon Corp., 5.25%, 3/1/22 6,750,000 $6,555,938
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 2,540,000 $2,199,746
GS Mortgage Securities Corp II Series 2005-GG4, Floating Rate Note, 7/10/39 1,500,000 $1,449,241
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 2,050,000 $2,029,842
Gulfport Energy Corp., 7.75%, 11/1/20 4,990,000 $4,530,504
Halcon Resources Corp 332,637 $419,123
Hilcorp Energy I LP, 5.0%, 12/1/24 (144A) 3,790,000 $3,161,492
Hkus 12% 15feb22 144a 1,634,000 $1,075,717
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 1,300,000 $678,449
Horizon Holdings III SASU, 5.125%, 8/1/22 (144A) 950,000 $1,084,130
Horizon Holdings I SASU, 7.25%, 8/1/23 (144A) 725,000 $837,760
IAC, 4.875%, 11/30/18 700,000 $704,689
Iap Worldwide Services Inc 63 $94,388
Iap Worldwide Services Inc 1st Lien Tl L + 6.5% 18jul19 495,851 $498,330
Icon Health & Fitness, Inc., 11.875%, 10/15/16 (144A) 5,000,000 $4,875,347
Immucor, Inc., 11.125%, 8/15/19 3,200,000 $3,046,489
Impax Laboratories, Inc., 2.0%, 6/15/22 (144A) 3,890,000 $3,815,658
Ineos Finance Plc, 4.0%, 5/1/23 7,225,000 $7,543,605
ING Groep NV, Floating Rate Note, 12/29/49 3,525,000 $3,491,219
Instituto Costarricense de Electricidad, 6.95%, 11/10/21 (144A) 940,000 $945,730
Intelsat Luxembourg SA, 7.75%, 6/1/21 2,500,000 $1,184,896
Inter-American Development Bank, 6.0%, 9/5/17 42,350,000 $642,876
International Finance Corp., 7.75%, 12/3/16 241,840,000 $3,688,337
International Finance Corp., 8.25%, 6/10/21 240,670,000 $3,826,655
Intesa Sanpaolo S.p.A., Floating Rate Note (Perpetual) (144A) 4,825,000 $5,022,798
Inversiones Alsacia SA, 8.0%, 12/31/18 (144A) 5,992,701 $1,550,629
IRSA Inversiones y Representaciones SA, 8.5%, 2/2/17 (144A) 6,405,000 $6,566,281
IRSA Propiedades Comerciales SA, 7.875%, 5/11/17 (144A) 5,750,000 $5,683,516
James River Coal Co., 7.875%, 4/1/19 4,435,000 $824,633
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 2,980,000 $3,181,150
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 3,800,000 $3,515,844
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 2,020,000 $1,966,596
JBS USA LLC, 5.75%, 6/15/25 (144A) 3,135,000 $2,735,462
JB y Co SA de CV, 3.75%, 5/13/25 (144A) 800,000 $767,070
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 4,340,000 $2,994,217
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 2,100,000 $2,130,453
JP Morgan Mortgage Trust 2005-A1, Floating Rate Note, 2/25/35 5,923,886 $1,713,136
Kane Ilw Zero% 02feb16 1,300,000 $1,300,000
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,093,300 $1,300,043
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,067,200 $1,199,960
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,101,200 $1,199,978
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 2,375,100 $2,600,022
Kane Sac Zero% 15jun16 1,400,000 $1,399,440
Kane Zero% 15jan16 506,000 $515,462
Kane Zero% 19feb16 3,900,000 $4,537,650
Kane Zero% 22jan16 2,600,000 $2,926,820
Kane Zero% 22jan16 1,000,000 $1,166,500
Kane Zero% 29apr16 5,400,000 $6,145,740
KazMunayGas National Co JSC, 4.4%, 4/30/23 (144A) 1,000,000 $937,316
KB Home, 1.375%, 2/1/19 4,640,000 $4,176,483
Kenya Government International Bond, 5.875%, 6/24/19 (144A) 2,175,000 $2,052,422
Kenya Government International Bond, 6.875%, 6/24/24 (144A) 2,530,000 $2,217,132
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 1,000,000 $1,000,283
Kindred Healthcare, Inc., 6.375%, 4/15/22 2,400,000 $2,024,300
Kindred Healthcare, Inc., 8.0%, 1/15/20 1,320,000 $1,282,893
Lantheus Medical Imaging, Inc., Initial Term Loan, 6/25/22 9,606,725 $8,838,187
LDK Solar Co, Ltd., 5.535%, 12/31/18 (PIK) 2,329,430 $354,429
LDK Solar Co, Ltd. (A.D.R.) 158,800 $8,893
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 1,102,000 $349,920
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 12,652,000 $2,978,467
Lennar Corp., 4.75%, 11/15/22 3,950,000 $3,940,399
Liberty Tire Recycling Llc 156,027 $1,560
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 3,280,924 $2,236,132
Linn Energy LLC, 7.75%, 2/1/21 155,000 $26,012
LKQ Corp., 4.75%, 5/15/23 1,250,000 $1,179,462
Long Haul Holdings, Ltd., Facility B Loan, 11/17/13 1,034,769 $222,475
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 33,500 $83,750
Macquarie Bank, Ltd., 4.875%, 6/10/25 (144A) 2,475,000 $2,449,754
Magnesita Finance, Ltd., 8.625% (Perpetual) (144A) 2,800,000 $1,569,692
Marfrig Holdings Europe BV, 6.875%, 6/24/19 (144A) 3,615,000 $3,231,220
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 11,248,000 $11,192,229
Marie Brizard Wine & Spirits SA, 12/23/16 5,578,091 $787,334
Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 (PIK) 80,890 $1,734
Memorial Production Partners LP, 6.875%, 8/1/22 1,719,000 $564,942
Memorial Production Partners LP, 7.625%, 5/1/21 3,000,000 $938,125
Memorial Resource Development Corp., 5.875%, 7/1/22 1,525,000 $1,379,172
Mentor Graphics Corp., 4.0%, 4/1/31 490,000 $516,644
Mercer International, Inc., 7.0%, 12/1/19 2,025,000 $2,041,875
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 1,350,000 $1,313,256
Mexican Udibonos, 2.0%, 6/9/22 35,138,000 $10,288,868
Mexican Udibonos, 3.5%, 12/14/17 1,720,000 $555,532
Mexico Government International Bond, 4.0%, 3/15/15 2,175,000 $2,040,913
MHP SA, 8.25%, 4/2/20 (144A) 5,300,000 $4,692,598
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 2,300,000 $282,229
Milea Flt% 15jul17 98,019,476 $814,410
Minerva Luxembourg SA, 12.25%, 2/10/22 (144A) 3,755,000 $3,972,712
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 10,550,000 $10,259,948
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 3,714,211 $2,337,528
Mj Acquisition Corp 2nd Lien L + 8% 08apr23 2,790,000 $2,735,874
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 4,000,000 $4,043,730
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 6.625%, 10/14/22 (144A) 700,000 $722,519
MMM Holdings, Inc., MMM Term Loan, 12/12/17 756,082 $498,069
Mobile Telesystems OJSC via MTS International Funding, Ltd., 5.0%, 5/30/23 (144A) 1,500,000 $1,390,208
Monitronics International, Inc., Term B Loan (2013), 3/23/18 0 $0
Morgan Stanley, Floating Rate Note (Perpetual) 3,550,000 $3,640,850
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 549,668 $362,094
Namibia International Bonds, 5.25%, 10/29/25 (144A) 1,415,000 $1,328,744
NANA Development Corp., 9.5%, 3/15/19 (144A) 1,475,000 $1,339,259
National Surgical Hospitals Inc 1st Lien Tl-B L + 3.5% 15may22 1,326,666 $1,290,183
Nationstar Mortgage LLC, 6.5%, 6/1/22 4,870,000 $4,238,929
Nationstar Mortgage LLC, 6.5%, 7/1/21 3,000,000 $2,752,500
Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A) 3,650,000 $2,434,854
NeuStar, Inc., 4.5%, 1/15/23 1,700,000 $1,396,975
New World Resources NV, 4.0%, 10/7/20 (PIK) 256,063 $43,548
New World Resources NV, Floating Rate Note, 10/7/20 135,483 $30,891
New World Resources NV, Floating Rate Note, 10/7/20 101,612 $14,342
Nexteer Automotive Group, Ltd., 5.875%, 11/15/21 (144A) 1,462,000 $1,502,215
Noble Energy, Inc., 5.875%, 6/1/22 3,995,000 $3,820,002
Noble Energy, Inc., 5.875%, 6/1/24 1,935,000 $1,861,046
Non-Profit Preferred Funding Trust I, Floating Rate Note, 9/15/37 (144A) 8,875,000 $488,214
Novatek OAO via Novatek Finance, Ltd., 4.422%, 12/13/22 (144A) 2,350,000 $2,082,478
NRG Energy, Inc., 6.25%, 5/1/24 6,000,000 $5,103,700
Omega US Sub LLC, 8.75%, 7/15/23 (144A) 2,475,000 $2,392,070
ONEOK, Inc., 7.5%, 9/1/23 2,385,000 $2,050,106
Ormat Funding Corp., 8.25%, 12/30/20 10,665,000 $4,309,681
Outerwall, Inc., 5.875%, 6/15/21 4,365,000 $3,590,698
Pacific Exploration and Production Corp., 5.375%, 1/26/19 (144A) 7,570,000 $1,613,488
Pangaea Zero% 01jul18 4,070,000 $73,260
Panolam Holdings Co. 894 $742,020
PDC Energy, Inc., 7.75%, 10/15/22 3,250,000 $3,173,174
Penn Virginia Corp., 8.5%, 5/1/20 2,250,000 $386,250
Pesquera Exalmar SAA, 7.375%, 1/31/20 (144A) 6,500,000 $4,198,571
Petroleos Mexicanos, 7.19%, 9/12/24 (144A) 8,650,000 $475,642
Plantronics, Inc., 5.5%, 5/31/23 (144A) 1,315,000 $1,317,667
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 5,340,000 $5,247,440
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 1,375,000 $1,410,234
Post Holdings, Inc., 7.375%, 2/15/22 1,675,000 $1,792,855
Post Holdings, Inc., 7.75%, 3/15/24 (144A) 800,000 $860,906
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 1,560,000 $1,131,173
Province of Salta Argentina, 9.5%, 3/16/22 (144A) 3,600,000 $2,618,208
Provincia de Buenos Aires Argentina, 9.95%, 6/9/21 (144A) 1,260,000 $1,305,462
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 9,820,000 $8,486,117
Red de Carreteras de Occidente SAPIB de CV, 9.0%, 6/10/28 (144A) 47,000,000 $2,642,281
Rent-A-Center, Inc., 4.75%, 5/1/21 3,010,000 $2,273,804
Resolute Forest Products, Inc., 5.875%, 5/15/23 3,735,000 $2,745,251
Reynolds Group Issuer, Inc., 8.5%, 5/15/18 7,490,000 $7,487,087
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 3,785,000 $3,954,589
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 2,200,000 $2,245,833
Romania Government Bond, 5.85%, 4/26/23 12,380,000 $3,555,261
Romania Government Bond, 5.95%, 6/11/21 610,000 $174,554
Royal Bank of Scotland Group Plc, Floating Rate Note (Perpetual) 1,773,000 $1,910,801
Royal Bank of Scotland Group Plc, Floating Rate Note (Perpetual) 1,020,000 $1,081,413
Russian Federal Bond - OFZ, 7.0%, 8/16/23 167,059,000 $2,040,482
Russian Railways via RZD Capital Plc, 3.3744%, 5/20/21 1,325,000 $1,374,206
Rwanda International Government Bond, 6.625%, 5/2/23 (144A) 2,000,000 $1,922,723
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 4,000,000 $3,773,750
Sabre GLBL, Inc., 5.375%, 4/15/23 (144A) 2,540,000 $2,556,122
Sanchez Energy Corp., 6.125%, 1/15/23 3,265,000 $1,855,314
Sanchez Energy Corp., 7.75%, 6/15/21 800,000 $490,756
Sberbank of Russia Via SB Capital SA, 5.25%, 5/23/23 (144A) 750,000 $644,791
Scientific Games International, Inc., 10.0%, 12/1/22 14,700,000 $10,559,500
Scientific Games International, Inc., 6.25%, 9/1/20 625,000 $306,771
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 13,467 $58,365
Sector Re V, Ltd., 0.0%, 12/1/19 (Cat Bond) (144A) 7,176 $230,395
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 1,721 $17,634
Sector Zero% 01dec20 144a 1,150,000 $1,155,405
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 2,000,000 $18,800
Silvre Zero% 18sep18 144a 2,000,000 $2,000,000
SM Energy Co., 5.0%, 1/15/24 455,000 $306,240
Sprint Corp., 7.25%, 9/15/21 9,770,000 $7,581,981
Sri Lanka Government International Bond, 6.85%, 11/3/25 (144A) 1,360,000 $1,296,098
Star Energy Geothermal Wayang Windu, Ltd., 6.125%, 3/27/20 (144A) 500,000 $480,911
SunPower Corp., 0.875%, 6/1/21 2,290,000 $1,991,107
Suntech Power Holdings Co, Ltd., 3.0%, 12/31/15 535,000 $159,759
Swift Energy Co., 8.875%, 1/15/20 2,410,000 $291,426
Talen Energy Supply LLC, 4.625%, 7/15/19 (144A) 3,760,000 $2,900,187
Talen Energy Supply LLC, 6.5%, 6/1/25 (144A) 3,225,000 $2,145,969
TAM Capital 3, Inc., 8.375%, 6/3/21 (144A) 3,250,000 $2,591,920
TA MFG., Ltd., 3.625%, 4/15/23 2,240,000 $2,372,998
Targa Resources Partners LP, 4.25%, 11/15/23 2,650,000 $2,054,891
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 5,695,000 $3,968,000
Taylor Morrison Communities, Inc., 5.875%, 4/15/23 2,625,000 $2,624,745
Telenet Finance V Luxembourg SCA, 6.25%, 8/15/22 (144A) 1,600,000 $1,911,401
Terraform Global Operating LLC, 9.75%, 8/15/22 (144A) 5,395,000 $4,515,840
TerraForm Power Operating LLC, 5.875%, 2/1/23 (144A) 590,000 $502,668
TIG FINCO Plc, 8.75%, 4/2/20 954,047 $1,253,231
TIG FINCO Plc, Floating Rate Note, 3/2/20 (144A) 168,361 $259,058
TI Group Automotive Systems LLC, Initial US Term Loan, 6/25/22 1,995,198 $1,955,294
TimberStar Trust I, 7.5296%, 10/15/36 (144A) 4,315,000 $4,403,866
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 1,625,000 $920,089
Top Co 132,750 $31,299
Trade & Development Bank of Mongolia LLC, 9.375%, 5/19/20 (144A) 1,355,000 $1,315,040
Trader Corp., 9.875%, 8/15/18 (144A) 1,675,000 $1,804,487
Tronox Finance LLC, 7.5%, 3/15/22 (144A) 4,635,000 $2,790,656
UBS AG, 7.625%, 8/17/22 5,650,000 $6,601,358
Unifin Financiera SAPI de CV SOFOM ENR, 6.25%, 7/22/19 (144A) 4,000,000 $3,790,417
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 2,750,000 $2,713,862
Unit Corp., 6.625%, 5/15/21 3,765,000 $2,742,672
United Group BV, 7.875%, 11/15/20 (144A) 5,000,000 $5,768,141
Valeant Pharmaceuticals International, Inc., 4.5%, 5/15/23 2,675,000 $2,536,176
Valeant Pharmaceuticals International, Inc., 5.875%, 5/15/23 (144A) 5,305,000 $4,774,537
Vedanta Resources Plc, 8.25%, 6/7/21 (144A) 5,145,000 $3,014,178
Vers 2015-A Zero% 31dec17 3,800,000 $4,438,400
Vertafore, Inc., Term Loan (Second Lien), 10/29/17 2,000,000 $1,998,500
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 2,860,000 $2,761,171
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 4,875,000 $4,996,945
VimpelCom Holdings BV, 9.0%, 2/13/18 (144A) 124,400,000 $1,678,219
Vimpel Communications Via VIP Finance Ireland, Ltd. OJSC, 7.748%, 2/2/21 (144A) 3,195,000 $3,368,642
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 1,605,000 $1,231,436
Vnesheconombank Via VEB Finance Plc, 6.902%, 7/9/20 (144A) 2,725,000 $2,843,527
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 775,000 $747,322
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 775,000 $785,431
WebMD Health Corp., 1.5%, 12/1/20 3,750,000 $4,192,969
WellCare Health Plans, Inc., 5.75%, 11/15/20 4,930,000 $5,114,122
Wells Fargo & Co., Floating Rate Note (Perpetual) 2,375,000 $2,505,889
WESCO Distribution, Inc., 5.375%, 12/15/21 3,915,000 $3,767,753
Westgate Resorts 2014-A LLC, 6.25%, 10/20/26 (144A) 750,000 $439,810
Whiting Petroleum Corp., 1.25%, 4/1/20 (144A) 2,585,000 $1,765,878
Windstream Services LLC, 7.5%, 6/1/22 5,180,000 $4,008,025
Windstream Services LLC, 7.75%, 10/15/20 4,765,000 $4,092,473
WPX Energy, Inc., 7.5%, 8/1/20 1,525,000 $1,285,766
WPX Energy, Inc., 8.25%, 8/1/23 2,290,000 $1,915,442
Zambia Government International Bond, 5.375%, 9/20/22 (144A) 3,700,000 $2,725,715
Zero% 30nov19 4,500,000 $4,768,200
Zero% 31aug16 1,300,000 $1,415,440
ZF North America Capital, Inc., 4.75%, 4/29/25 (144A) 1,670,000 $1,604,337
Ziggo Bond Finance BV, 5.875%, 1/15/25 (144A) 1,075,000 $1,026,185

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.