Pioneer Multi-Asset Income Fund

Top 10 Portfolio Holdings as of 3/31/2016
Default: sorted by market value

Security Name Par / Shares Market Value
14112z Zero% 01feb19 1,200,000 $35,880
17079z Zero% 31mar18 1,000,000 $1,176,000
A10 Securitization 2013-1 LLC, 4.7%, 11/17/25 (144A) 100,000 $99,873
A10 Securitization 2013-1 LLC, 6.41%, 11/17/25 (144A) 100,000 $99,970
AAF Holdings LLC, 12.375%, 7/1/19 (144A) (PIK) 1,071,236 $964,112
Aberdeen Asset Management Plc 389,166 $1,552,064
Advanced Micro Devices, Inc., 6.75%, 3/1/19 395,000 $318,222
Advanced Micro Devices, Inc., 7.0%, 7/1/24 2,600,000 $1,748,500
Advanced Micro Devices, Inc., 7.5%, 8/15/22 835,000 $579,977
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 176,000 $125,462
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 1,260,000 $1,254,330
Aldermore Group Plc 471,646 $1,423,979
Allergan plc, 5.5%, 3/1/18 1,025 $942,119
Alliance One International, Inc., 9.875%, 7/15/21 3,300,000 $2,585,046
Allianz SE 38,334 $6,241,543
Alphabet, Inc. 7,294 $5,564,593
Alpha Natural Resources, Inc., 6.0%, 6/1/19 950,000 $51,063
alstria office REIT-AG 136,758 $1,975,130
Altice Finco SA, 8.125%, 1/15/24 (144A) 200,000 $201,431
Altria Group, Inc. 81,727 $5,121,014
Altrl Zero% 30jun16 187,586 $10,467
American Airlines Group, Inc. 120,311 $4,933,954
Apex Tool Group LLC, 7.0%, 2/1/21 (144A) 2,250,000 $1,848,750
Apollo Commercial Real Estate Finance, Inc., 5.5%, 3/15/19 595,000 $599,801
Apollo Investment Corp. 2,065,321 $11,462,532
Apple, Inc. 237,346 $25,868,341
Appvion, Inc., 9.0%, 6/1/20 (144A) 435,000 $180,525
Archrock Partners LP, 6.0%, 4/1/21 700,000 $518,000
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 1,362,978 $1,349,888
Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A) 1,000,000 $978,938
Ardent Legacy Acquisitions, Inc., Term Loan, 7/31/21 67,497 $67,666
Ares Capital Corp. 207,662 $3,081,704
Argos Merger Sub, Inc., 7.125%, 3/15/23 (144A) 1,550,000 $1,652,558
Ascentium Equipment Receivables 2015-1 LLC, 5.92%, 6/12/23 (144A) 800,000 $802,119
A Schulman, Inc., 6.875%, 6/1/23 (144A) 1,695,000 $1,708,419
Asustek Computer, Inc. 140,000 $1,256,132
AT&T, Inc. 192,631 $7,545,356
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 465,000 $373,695
Avance Gas Holding, Ltd. 948,928 $6,620,241
Axis Equipment Finance Receivables III LLC, 5.27%, 5/20/20 (144A) 500,000 $502,900
Bank of America Corp., Floating Rate Note, 10/23/49 1,675,000 $1,776,719
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT 5,328,200 $387,761
Baxalta, Inc. 296,513 $11,979,125
Bayview Opportunity Master Fund IIa Trust 2014-20NPL, 3.721%, 8/28/44 (Step) (144A) 450,000 $191,412
Bayview Opportunity Master Fund Trust 2014-15RPL, Floating Rate Note, 10/28/19 (144A) 2,250,000 $791,511
Bear Stearns Asset Backed Securities Trust, 8.41%, 10/25/29 (Step) 2,500,000 $50,888
Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41 100,000 $96,457
Bear Stearns Commercial Mortgage Securities Trust 2005-TOP20, Floating Rate Note, 10/12/42 1,500,000 $1,489,315
Berry Petroleum Co LLC, 6.375%, 9/15/22 700,000 $150,296
BioScrip, Inc., 8.875%, 2/15/21 1,555,000 $1,331,609
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 43,924 $39,641
BioScrip, Inc., Initial Term B Loan, 7/31/20 87,848 $79,283
BlackRock MuniVest Fund, Inc. 626,511 $6,753,789
BlackRock MuniYield Fund, Inc. 434,029 $6,727,450
Blue Danube II, Ltd., Floating Rate Note, 5/23/16 (Cat Bond) (144A) 250,000 $251,129
Bombardier Recreational Products, Inc., Term B-2 Loan, 1/30/19 113,143 $111,931
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 385,000 $105,715
Bridgestone Corp. 57,300 $2,141,842
Britvic Plc 1,265,148 $12,923,307
Broadspectrum, Ltd., 8.375%, 5/15/20 (144A) 635,000 $669,378
CalAtlantic Group, Inc., 5.375%, 10/1/22 205,000 $215,122
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 3,550,000 $2,626,901
Calumet Specialty Products Partners LP, 7.625%, 1/15/22 170,000 $123,012
Calumet Specialty Products Partners LP, 7.75%, 4/15/23 1,275,000 $912,564
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 100,000 $114,337
Cardinal Health, Inc. 143,502 $11,759,989
Carrizo Oil & Gas, Inc., 6.25%, 4/15/23 2,195,000 $1,997,602
CEB, Inc., 5.625%, 6/15/23 (144A) 2,065,000 $2,135,339
Centene Corp., 5.625%, 2/15/21 (144A) 1,400,000 $1,470,438
Centene Corp., 6.125%, 2/15/24 (144A) 960,000 $1,018,567
Central Garden & Pet Co., 6.125%, 11/15/23 955,000 $1,016,273
CenturyLink, Inc., 6.45%, 6/15/21 700,000 $722,478
CenturyLink, Inc., 6.75%, 12/1/23 1,325,000 $1,318,375
CenturyLink, Inc., 7.6%, 9/15/39 450,000 $371,645
Cenveo Corp., 6.0%, 8/1/19 (144A) 3,455,000 $2,548,063
CEVA GROUP Plc 22 $8,972
CEVA GROUP Plc, 0.0%, 12/31/14 49 $19,420
Charter Communications Operating L 1st Lien Tl L + 0% 26may16 244,493 $244,493
Charter Communications Operating L 1st Lien Tl L + 0% 26may16 1,501,884 $1,501,884
Chevron Lubricants Lanka Plc 359,581 $744,037
CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33 130,000 $11,601
CHS, 6.875%, 2/1/22 2,040,000 $1,864,475
CHS, 8.0%, 11/15/19 1,065,000 $1,069,230
Cimpress NV, 7.0%, 4/1/22 (144A) 1,000,000 $1,025,000
Cincinnati Bell, Inc., 8.375%, 10/15/20 1,000,000 $1,053,618
Cisco Systems, Inc. 185,665 $5,285,883
Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/17/49 50,000 $50,021
Cliffs Natural Resources, Inc., 8.25%, 3/31/20 (144A) 950,000 $842,155
Cobalt International Energy, Inc., 2.625%, 12/1/19 515,000 $261,363
Commercial Vehicle Group, Inc., 7.875%, 4/15/19 330,000 $289,183
CommScope Technologies Finance LLC, 6.0%, 6/15/25 (144A) 1,190,000 $1,222,180
Communications Sales & Leasing, Inc., 6.0%, 4/15/23 (144A) 2,500,000 $2,500,417
Concentra, Inc., Initial Term Loan (Second Lien), 4/8/23 2,025,000 $1,985,715
Constellis Holdings LLC, 9.75%, 5/15/20 (144A) 4,390,000 $3,980,998
Countrywide Asset-Backed Certificates, 5.557%, 1/25/36 (Step) 205,000 $118,659
Countrywide Asset-Backed Certificates, Floating Rate Note, 1/25/36 130,000 $41,416
Coveris Holding Corp., 10.0%, 6/1/18 (144A) 200,000 $197,667
Coveris Holdings SA, 7.875%, 11/1/19 (144A) 2,800,000 $2,597,875
Credit Agricole SA, Floating Rate Note (Perpetual) (144A) 1,885,000 $1,883,842
Credit Suisse First Boston Mortgage Securities Corp., 5.5%, 6/25/33 100,000 $15,508
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 855,000 $856,731
Crestwood Midstream Partners LP, 6.125%, 3/1/22 3,135,000 $2,367,252
CVS Health Corp. 82,770 $8,585,732
DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/12/44 (144A) 100,000 $108,310
DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A) 300,000 $160,838
Del Monte Foods, Inc., Initial Loan (Second Lien), 5/26/21 700,000 $504,000
Denbury Resources, Inc., 4.625%, 7/15/23 1,055,000 $450,763
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 1,715,000 $1,575,656
Digital Realty Trust, Inc. 17,842 $1,578,839
DISH DBS Corp., 5.875%, 11/15/24 1,720,000 $1,616,274
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 1,210,000 $1,240,502
Drill Rigs Holdings, Inc., 6.5%, 10/1/17 (144A) 210,000 $132,825
DriveTime Automotive Group, Inc., 8.0%, 6/1/21 (144A) 4,130,000 $3,682,583
DynCorp International, Inc., 10.375%, 7/1/17 1,885,000 $1,556,892
easyJet Plc 203,558 $4,445,434
Endo, Ltd., 6.0%, 7/15/23 (144A) 2,885,000 $2,752,050
Energizer Holdings, Inc., 5.5%, 6/15/25 (144A) 1,205,000 $1,230,539
EnPro Industries, Inc., 5.875%, 9/15/22 1,270,000 $1,298,716
Entegris, Inc., 6.0%, 4/1/22 (144A) 2,100,000 $2,194,500
EP Energy LLC, 6.375%, 6/15/23 1,965,000 $940,785
EPL Oil & Gas, Inc., 8.25%, 2/15/18 50,000 $3,027
EPR Properties 78,144 $5,205,953
Evergreen Skills Lux Sarl, Initial Term Loan (First Lien), 4/23/21 738,750 $595,925
Federal National Mortgage Association REMICS, 3.5%, 1/25/29 500,000 $3,716
Ferrellgas LP, 6.5%, 5/1/21 625,000 $571,615
Ferrellgas LP, 6.75%, 1/15/22 2,305,000 $2,078,534
Fifth Street Finance Corp. 1,229,677 $6,172,979
Filtration Group, Inc., Initial Term Loan (Second Lien), 11/15/21 50,532 $48,369
First Data Corp., 5.75%, 1/15/24 (144A) 1,040,000 $1,060,826
First Data Corp., 7.0%, 12/1/23 (144A) 1,340,000 $1,388,054
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 1,015,000 $1,043,547
Florida East Coast Holdings Corp., 9.75%, 5/1/20 (144A) 1,330,000 $1,011,631
FMG Resources August 2006 Pty, Ltd., 9.75%, 3/1/22 (144A) 2,785,000 $2,800,666
FMG Resources August 2006 Pty, Ltd., Loan, 6/30/19 2,120,169 $1,796,844
Frontier Communications Corp., 11.0%, 9/15/25 (144A) 1,920,000 $1,938,987
Frontier Communications Corp., 7.125%, 1/15/23 4,200,000 $3,780,175
Frontier Communications Corp., 8.5%, 4/15/20 157,000 $168,554
Frontier Communications Corp., 8.75%, 4/15/22 160,000 $162,456
Frontier Communications Corp., 9.25%, 7/1/21 800,000 $834,500
FTS International, Inc., Floating Rate Note, 6/15/20 (144A) 1,395,000 $946,270
GCI, Inc., 6.75%, 6/1/21 1,200,000 $1,251,000
GCI, Inc., 6.875%, 4/15/25 3,000,000 $3,155,104
GE Mortgage Services LLC, Floating Rate Note, 3/25/27 1,650,000 $42,775
General Cable Corp., 4.5%, 11/15/29 (Step) 1,410,000 $794,183
General Cable Corp., 5.75%, 10/1/22 2,090,000 $1,711,188
GLC Trust 2013-1, 3.0%, 7/15/21 (144A) 1,000,000 $323,737
Global Display Co, Ltd. 315,000 $1,114,027
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 296,900 $40,784
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 300,000 $32,943
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 2,155,000 $246,985
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 137,171 $22,615
Global Partners LP, 6.25%, 7/15/22 1,655,000 $1,254,812
Global Partners LP, 7.0%, 6/15/23 2,070,000 $1,584,815
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 210,000 $197,062
Goldman Sachs & Co Usd 02aug16 Buy 99,920 $10,590,884
Gol LuxCo SA, 8.875%, 1/24/22 (144A) 1,960,000 $698,774
Government National Mortgage Association REMICS, Floating Rate Note, 6/20/38 100,000 $997
Green Tree Agency Advance Funding Trust I, 4.6692%, 10/15/48 (144A) 2,250,000 $2,256,604
Griffon Corp., 5.25%, 3/1/22 1,755,000 $1,758,291
Grupo Financiero Banorte SAB de CV 131,063 $743,475
GS Mortgage Securities Trust 2014-GSFL, Floating Rate Note, 7/15/31 (144A) 675,000 $649,688
Gulfport Energy Corp., 7.75%, 11/1/20 2,205,000 $2,276,203
Halcon Resources Corp., 12.0%, 2/15/22 (144A) 929,000 $632,030
Halcon Resources Corp., 5.75% (Perpetual) 500 $15,750
Hexion, Inc., 6.625%, 4/15/20 680,000 $585,173
Hexion, Inc., 9.0%, 11/15/20 2,430,000 $1,060,695
Hiland Partners LP, 5.5%, 5/15/22 (144A) 370,000 $378,643
Hiland Partners LP, 7.25%, 10/1/20 (144A) 600,000 $644,250
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 1,200,000 $952,500
Indonesia Treasury Bond, 8.375%, 3/15/24 91,682,000,000 $7,185,429
Indonesia Treasury Bond, 8.75%, 5/15/31 113,811,000,000 $9,272,981
Indonesia Treasury Bond, 9.0%, 3/15/29 76,164,000,000 $6,119,087
Indo Tambangraya Megah Tbk PT 2,650,351 $1,324,176
InterContinental Hotels Group Plc 173,292 $7,152,864
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 2,960,000 $2,445,803
J2 Cloud Services, Inc., 8.0%, 8/1/20 325,000 $343,552
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 1,485,000 $1,097,663
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 1,800,000 $1,698,025
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 325,000 $332,455
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 1,350,000 $1,206,450
Johnson & Johnson 104,285 $11,283,637
JPMorgan Chase & Co. 177,986 $10,540,331
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 265,000 $293,951
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 225,000 $217,970
JP Morgan Chase Commercial Mortgage Securities Trust 2014-CBM MZ, Floating Rate Note, 10/15/19 (144A 1,960,000 $1,810,521
Kane Sac Zero% 15jun16 800,000 $799,840
Kane Zero% 29apr16 1,300,000 $35,100
Kane Zero% 30jun16 700,000 $14,280
KB Home, 7.625%, 5/15/23 4,305,000 $4,396,720
KB Home, 8.0%, 3/15/20 50,000 $52,553
Kennedy-Wilson, Inc., 5.875%, 4/1/24 1,210,000 $1,218,319
Kinder Morgan Energy Partners LP, 5.0%, 8/15/42 100,000 $84,023
Kindred Healthcare, Inc., 6.375%, 4/15/22 3,175,000 $2,954,801
Kindred Healthcare, Inc., 8.0%, 1/15/20 430,000 $434,037
Lantheus Medical Imaging, Inc., Initial Term Loan, 6/25/22 181,100 $158,463
Leaf Receivables Funding 10 LLC, 5.21%, 7/15/21 (144A) 750,000 $741,588
Legacy Reserves LP, 6.625%, 12/1/21 1,025,000 $217,385
Liberty Tire Recycling Llc 3,071 $31
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 69,714 $56,203
LMI Aerospace, Inc., 7.375%, 7/15/19 1,615,000 $1,543,245
Lukoil International Finance BV, 6.125%, 11/9/20 (144A) 4,392,000 $4,739,670
Mapletree Industrial Trust 4,041,200 $4,783,461
Mapletree Logistics Trust 2,260,200 $1,694,102
MasTec, Inc., 4.875%, 3/15/23 1,685,000 $1,448,538
McDermott International, Inc., 8.0%, 5/1/21 (144A) 860,000 $701,617
McGraw-Hill School Education Holdings LLC, Term B Loan, 12/18/19 879,750 $877,551
MDC Partners, Inc., 6.5%, 5/1/24 (144A) 360,000 $368,170
MDC Partners, Inc., 6.75%, 4/1/20 (144A) 750,000 $800,625
Memorial Resource Development Corp., 5.875%, 7/1/22 630,000 $541,603
Meritor, Inc., 6.25%, 2/15/24 1,315,000 $1,169,345
Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36 500,000 $65,459
Merrill Lynch Mortgage Trust 2005-CKI1, Floating Rate Note, 11/12/37 2,300,000 $1,160,829
Mexican Bonos, 10.0%, 12/5/24 69,745,500 $5,302,315
MGM Resorts International, 6.0%, 3/15/23 1,335,000 $1,385,285
Micron Technology, Inc., 5.5%, 2/1/25 1,225,000 $1,004,245
Microsoft Corp. 207,717 $11,472,210
Millar Western Forest Products, Ltd., 8.5%, 4/1/21 1,460,000 $675,250
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 28,732 $11,366
Mitsubishi Electric Corp. 687,000 $7,203,133
Mitsubishi UFJ Financial Group, Inc. 1,420,000 $6,582,781
ML-CFC Commercial Mortgage Trust 2006-4, 5.239%, 12/12/49 3,000,000 $2,930,742
Monitronics International, Inc., 9.125%, 4/1/20 1,555,256 $1,330,716
Monitronics International, Inc., Term B Loan (2013), 3/23/18 26,232 $24,866
Morgan Stanley Capital I Trust 2007-IQ15, Floating Rate Note, 6/11/49 100,000 $104,271
MPT Operating Partnership LP, 5.5%, 5/1/24 1,130,000 $1,161,546
MSCI, Inc., 5.75%, 8/15/25 (144A) 1,195,000 $1,266,517
NANA Development Corp., 9.5%, 3/15/19 (144A) 2,580,000 $2,023,293
Nationstar Mortgage LLC, 6.5%, 6/1/22 1,995,000 $1,763,913
Nationstar Mortgage LLC, 6.5%, 7/1/21 1,915,000 $1,730,681
Nationstar Mortgage LLC, 6.5%, 8/1/18 455,000 $445,710
Navitas Equipment Receivables LLC 2013-1, 5.82%, 6/15/19 250,000 $250,891
Navitas Equipment Receivables LLC 2015-1, 5.75%, 5/17/21 (144A) 1,000,000 $1,010,026
NCF Dealer Floorplan Master Trust, Floating Rate Note, 10/20/20 (144A) 600,000 $588,154
NCR Corp., 6.375%, 12/15/23 1,700,000 $1,782,910
Neopost SA 50,223 $1,056,558
Neptune Finco Corp., 6.625%, 10/15/25 (144A) 1,220,000 $1,357,619
NeuStar, Inc., 4.5%, 1/15/23 2,650,000 $2,184,925
Nippon Telegraph & Telephone Corp. 95,200 $4,102,668
NNIT A/S 72,905 $1,894,331
Novartis AG 169,903 $12,336,308
Novelis, Inc., 8.375%, 12/15/17 1,000,000 $1,041,660
NRG Energy, Inc., 6.25%, 5/1/24 4,550,000 $4,293,115
NRG Energy, Inc., 6.25%, 7/15/22 600,000 $565,917
NRG Energy, Inc., 6.625%, 3/15/23 635,000 $594,204
Ocwen Loan Servicing LLC, Initial Term Loan, 2/15/18 43,834 $43,122
ONEOK, Inc., 7.5%, 9/1/23 650,000 $636,188
Orange SA 505,537 $8,864,543
Outerwall, Inc., 5.875%, 6/15/21 4,150,000 $3,142,789
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 450,000 $452,388
Pangaea Zero% 01jul18 1,050,000 $18,900
Parsley Energy LLC, 7.5%, 2/15/22 (144A) 1,070,000 $1,074,904
PBF Logistics LP, 6.875%, 5/15/23 690,000 $661,346
Pelican Products, Inc., Term Loan (First Lien), 4/8/20 223,353 $200,739
Pfizer, Inc. 869,602 $25,775,003
Philippine Government International Bond, 6.25%, 1/14/36 76,000,000 $1,857,290
Pilgrim's Pride Corp., 5.75%, 3/15/25 (144A) 1,350,000 $1,358,513
PLA Administradora Industrial S de RL de CV 601,383 $1,119,144
Platform Specialty Products Corp., 10.375%, 5/1/21 (144A) 610,000 $614,963
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 1,775,000 $1,859,608
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 1,375,000 $1,479,844
Post Holdings, Inc., 7.75%, 3/15/24 (144A) 800,000 $880,756
Post Holdings, Inc., 8.0%, 7/15/25 (144A) 510,000 $574,713
Provident Funding Associates LP, 6.75%, 6/15/21 (144A) 4,125,000 $3,990,422
Publicis Groupe SA 39,014 $2,742,204
QUALCOMM, Inc. 33,924 $1,734,873
Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A) 500,000 $510,983
Quicken Loans, Inc., 5.75%, 5/1/25 (144A) 2,210,000 $2,196,648
Radio Systems Corp., 8.375%, 11/1/19 (144A) 250,000 $268,724
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 950,000 $813,833
Rain CII Carbon LLC, 8.25%, 1/15/21 (144A) 2,375,000 $1,727,615
Ras Al Khaimah Ceramics 2,118,256 $1,845,447
RASC Series 2003-KS5 Trust, 4.96%, 7/25/33 (Step) 139,000 $76,193
Regal Entertainment Group, 5.75%, 2/1/25 1,000,000 $1,014,583
Rent-A-Center, Inc., 4.75%, 5/1/21 1,985,000 $1,532,999
Rentech Nitrogen Partners LP, 6.5%, 4/15/21 (144A) 1,875,000 $1,903,073
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 250,000 $254,061
Resolute Forest Products, Inc., 5.875%, 5/15/23 2,155,000 $1,502,454
Revlon Consumer Products Corp., 5.75%, 2/15/21 1,400,000 $1,448,786
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 950,000 $955,542
Rice Energy, Inc., 6.25%, 5/1/22 785,000 $703,393
Sabine Pass Liquefaction LLC, 5.625%, 3/1/25 690,000 $661,322
Sabine Pass Liquefaction LLC, 5.75%, 5/15/24 1,365,000 $1,333,226
Sabre GLBL, Inc., 5.375%, 4/15/23 (144A) 1,785,000 $1,876,097
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 500,000 $514,472
Sanchez Energy Corp., 6.125%, 1/15/23 2,330,000 $1,288,328
Sanders Re, Ltd., Floating Rate Note, 5/25/18 (Cat Bond) (144A) 500,000 $492,692
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 250,000 $251,778
Scientific Games International, Inc., 10.0%, 12/1/22 4,100,000 $3,457,667
Scientific Games International, Inc., 6.25%, 9/1/20 3,125,000 $1,891,276
Sealed Air Corp., 6.875%, 7/15/33 (144A) 2,350,000 $2,519,233
Sector Re V, Ltd., 0.0%, 3/1/20 (Cat Bond) (144A) 800,000 $906,080
Sekisui Chemical Co, Ltd. 190,100 $2,342,136
SFX Entertainment, Inc., 9.625%, 2/1/19 (144A) 2,650,000 $180,531
Silver Bay Realty 2014-1 Trust, Floating Rate Note, 9/18/31 (144A) 1,200,000 $1,132,900
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 700,000 $28,840
SK Hynix, Inc. 70,001 $1,720,730
SM Energy Co., 5.0%, 1/15/24 1,300,000 $913,569
Societatea Nationala de Gaze Naturale ROMGAZ SA 40,000 $274,706
SolarCity Corp., 1.625%, 11/1/19 1,000,000 $579,896
Sotheby's, 5.25%, 10/1/22 (144A) 2,635,000 $2,427,494
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 270,000 $169,500
Spirit Master Funding LLC, 5.74%, 3/20/42 (144A) 178,672 $196,269
Springleaf Mortgage Loan Trust 2013-1, Floating Rate Note, 6/25/58 (144A) 250,000 $250,500
Springs Industries, Inc., 6.25%, 6/1/21 2,445,000 $2,508,163
Sprint Corp., 7.125%, 6/15/24 6,555,000 $5,004,606
Sprint Corp., 7.25%, 9/15/21 2,000,000 $1,533,944
StoneMor Partners LP, 7.875%, 6/1/21 855,000 $884,246
Sulzer AG 22,835 $2,271,725
Sumitomo Mitsui Financial Group, Inc. 447,500 $13,572,781
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 665,000 $470,349
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 1,095,000 $774,484
Sundrug Co, Ltd. 87,800 $6,571,634
Sunoco LP, 6.375%, 4/1/23 (144A) 3,225,000 $3,329,796
Swift Energy Co., 7.875%, 3/1/22 1,195,000 $114,645
Swift Energy Co., 8.875%, 1/15/20 355,000 $40,154
Talen Energy Supply LLC, 4.625%, 7/15/19 (144A) 2,765,000 $2,425,635
Talen Energy Supply LLC, 6.5%, 6/1/25 1,900,000 $1,618,167
Targa Resources Partners LP, 4.125%, 11/15/19 1,000,000 $959,963
Targa Resources Partners LP, 6.75%, 3/15/24 (144A) 1,750,000 $1,724,625
Taylor Morrison Communities, Inc., 5.875%, 4/15/23 (144A) 1,840,000 $1,816,246
TCP Capital Corp. 19,245 $286,943
TEGNA, Inc., 6.375%, 10/15/23 1,505,000 $1,662,116
Terraform Global Operating LLC, 9.75%, 8/15/22 (144A) 3,025,000 $2,306,436
TerraForm Power Operating LLC, 5.875%, 2/1/23 (144A) 1,955,000 $1,602,693
TerraForm Power Operating LLC, 6.125%, 6/15/25 (144A) 825,000 $658,379
The Goldman Sachs Group, Inc. 47,706 $7,488,888
The Hershey Co. 93,280 $8,590,155
The PNC Financial Services Group, Inc. 52,993 $4,481,618
The Williams Companies, Inc., 7.5%, 1/15/31 3,000,000 $2,485,000
Titan International, Inc., 6.875%, 10/1/20 555,000 $468,628
T-Mobile USA, Inc., 6.0%, 4/15/24 705,000 $713,813
T-Mobile USA, Inc., 6.625%, 4/1/23 3,000,000 $3,256,875
TMS International Corp., 7.625%, 10/15/21 (144A) 2,005,000 $1,243,420
TMX Finance LLC, 8.5%, 9/15/18 (144A) 1,290,000 $1,036,873
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 550,000 $265,352
Tops Holding LLC, 8.0%, 6/15/22 (144A) 2,825,000 $2,679,669
TRAC Intermodal LLC, 11.0%, 8/15/19 50,000 $54,203
Trader Corp., 9.875%, 8/15/18 (144A) 1,000,000 $1,050,118
TriplePoint Venture Growth BDC Corp. 360,000 $3,780,000
Triumph Group, Inc., 5.25%, 6/1/22 550,000 $504,625
Tronox Finance LLC, 6.375%, 8/15/20 2,500,000 $1,942,240
Tronox Finance LLC, 7.5%, 3/15/22 (144A) 2,535,000 $1,909,700
Truven Health Analytics, Inc., 10.625%, 6/1/20 80,000 $88,153
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 100,000 $98,727
Universal Hospital Services, Inc., 7.625%, 8/15/20 2,085,000 $1,948,939
Univision Communications, Inc., 5.125%, 2/15/25 (144A) 505,000 $501,995
Univision Communications, Inc., Replacement First-Lien Term Loan (C-4), 3/1/20 58,137 $57,639
US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21 150,000 $147,501
Valeant Pharmaceuticals International, Inc., 5.875%, 5/15/23 (144A) 2,090,000 $1,684,424
Valero Energy Corp., 6.625%, 6/15/37 100,000 $110,417
Velocity Commercial Capital Loan Trust 2015-1, Floating Rate Note, 6/25/45 (144A) 1,000,000 $960,921
Verizon Communications, Inc. 280,018 $15,143,373
Vertafore, Inc., Term Loan 2013, 10/3/19 95,549 $95,453
Vina San Pedro Tarapaca SA 533,484,123 $5,545,034
Voya Financial, Inc., Floating Rate Note, 5/15/53 300,000 $285,403
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45 84,000 $9,367
Waterjet Holdings, Inc., 7.625%, 2/1/20 (144A) 2,505,000 $2,524,309
WCP ISSUER LLC, 6.657%, 8/15/20 (144A) 100,000 $104,040
Wells Fargo & Co., 7.5% (Perpetual) 1,876 $2,260,599
Westgate Resorts 2014-1 LLC, 5.5%, 12/20/26 (144A) 800,000 $484,284
WFRBS Commercial Mortgage Trust 2011-C3, Floating Rate Note, 3/15/44 (144A) 100,000 $105,719
WH Group, Ltd. 3,438,142 $2,490,990
Windstream Services LLC, 6.375%, 8/1/23 2,680,000 $1,991,575
Windstream Services LLC, 7.5%, 6/1/22 770,000 $610,225
Windstream Services LLC, 7.75%, 10/1/21 590,000 $504,081
WPX Energy, Inc., 7.5%, 8/1/20 1,300,000 $1,030,250
WPX Energy, Inc., 8.25%, 8/1/23 470,000 $370,713
XPO Logistics, Inc., 7.875%, 9/1/19 (144A) 1,375,000 $1,432,148
Zebra Technologies Corp., 7.25%, 10/15/22 1,150,000 $1,286,195
Zero% 01feb18 900,000 $913,590
Zero% 30nov19 2,000,000 $2,166,200
Zero% 30nov20 1,200,000 $1,213,200
Zero% 30nov20 80,000 $81,736
Zero% 30nov20 700,000 $710,640
Zero% 30nov20 920,000 $939,964
Zero% 31aug16 1,000,000 $1,126,700

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

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