Pioneer Multi-Asset Income Fund

Top 10 Portfolio Holdings as of 7/31/2015
Default: sorted by market value

Security Name Par / Shares Market Value
14112z Zero% 01feb19 1,200,000 $1,288,680
17079z Zero% 31mar18 1,000,000 $1,031,900
A10 Securitization 2013-1 LLC, 4.7%, 11/17/25 (144A) 100,000 $100,314
A10 Securitization 2013-1 LLC, 6.41%, 11/17/25 (144A) 100,000 $100,340
AAF Holdings LLC, 12.375%, 7/1/19 (144A) (PIK) 1,038,146 $1,040,741
AbbVie, Inc. 83,726 $5,861,657
Aberdeen Asset Management Plc 242,155 $1,377,893
Abu Dhabi Commercial Bank PJSC 7,045,044 $15,869,648
ACE Securities Corp Manufactured Housing Trust Series 2003-MH1, Floating Rate Note, 8/15/30 (144A) 50,000 $2,443
Advanced Micro Devices, Inc., 6.75%, 3/1/19 395,000 $298,472
Advanced Micro Devices, Inc., 7.0%, 7/1/24 2,600,000 $1,744,167
Advanced Micro Devices, Inc., 7.5%, 8/15/22 835,000 $605,027
Advanced Semiconductor Engineering, Inc. 1,273,000 $1,459,551
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 176,000 $147,163
AES Corp. Virginia, 5.5%, 4/15/25 2,500,000 $2,437,674
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 1,260,000 $1,285,830
Alliance One International, Inc., 9.875%, 7/15/21 3,300,000 $2,910,233
Alliant Holdings I Inc 1st Lien Bridge L + 6.5% 09jul23 3,610,000 $3,610,000
Allianz SE 42,922 $7,031,813
Alpha Natural Resources, Inc., 6.0%, 6/1/19 950,000 $40,375
alstria office REIT-AG 118,954 $1,645,838
Altice Finco SA, 8.125%, 1/15/24 (144A) 200,000 $208,722
Altria Group, Inc. 142,212 $7,733,489
Altrl Zero% 30jun16 187,586 $31,965
American Airlines Group, Inc. 68,034 $2,728,163
Apex Tool Group LLC, 7.0%, 2/1/21 (144A) 2,250,000 $2,092,500
Apollo Commercial Real Estate Finance, Inc., 5.5%, 3/15/19 595,000 $608,478
Apollo Investment Corp. 2,256,587 $15,480,187
Apple, Inc. 85,746 $10,400,990
Approach Resources, Inc., 7.0%, 6/15/21 1,580,000 $1,353,182
Appvion, Inc., 9.0%, 6/1/20 (144A) 435,000 $245,775
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 1,306,630 $1,379,829
Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A) 1,000,000 $1,058,938
Ardent Medical Services, Inc., Term Loan (First Lien), 7/2/18 182,576 $183,109
Ares Capital Corp. 295,316 $4,751,634
Argos Merger Sub, Inc., 7.125%, 3/15/23 (144A) 1,550,000 $1,684,220
Ascentium Equipment Receivables 2015-1 LLC, 5.92%, 6/12/23 (144A) 800,000 $805,504
A Schulman, Inc., 6.875%, 6/1/23 (144A) 1,695,000 $1,737,228
A Schulman Inc Bridge L + 0% 27mar16 2,955,000 $2,955,000
Asustek Computer, Inc. 197,000 $1,774,290
Audatex North America, Inc., 6.125%, 11/1/23 (144A) 1,700,000 $1,687,781
Aug15 Gmcr C @ 71.000000 -349 $-230,340
Aug15 Gmcr C @ 73.000000 -349 $-179,090
Aug15 Gmcr P @ 70.000000 -349 $-80,445
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 465,000 $368,367
Avance Gas Holding, Ltd. 953,089 $15,920,618
AVINTIV Specialty Materials, Inc., 6.875%, 6/1/19 (144A) 500,000 $515,729
Axiall Corp., 4.875%, 5/15/23 2,145,000 $2,086,638
Axis Equipment Finance Receivables III LLC, 5.27%, 5/20/20 (144A) 500,000 $499,795
Bank of America Corp., Floating Rate Note, 10/23/49 1,675,000 $1,759,076
Bank of America Corp., Floating Rate Note, 9/29/49 1,950,000 $2,001,241
Bankrate, Inc., 6.125%, 8/15/18 (144A) 1,245,000 $1,245,925
Bayview Financial Mortgage Pass-Through Trust 2007-B, 6.407%, 8/28/37 (Step) 321,166 $7,545
Bayview Opportunity Master Fund IIa Trust 2014-20NPL, 3.475%, 8/28/44 (Step) (144A) 450,000 $301,804
Bayview Opportunity Master Fund Trust 2014-15RPL, Floating Rate Note, 10/28/19 (144A) 2,250,000 $1,402,906
Bear Stearns Asset Backed Securities Trust, 8.41%, 10/25/29 (Step) 2,500,000 $56,601
Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A) 200,000 $207,712
Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41 100,000 $100,373
Bear Stearns Commercial Mortgage Securities Trust 2005-TOP20, Floating Rate Note, 10/12/42 1,500,000 $1,506,603
Bear Stearns Commercial Mortgage Securities Trust 2006-PWR14, 5.273%, 12/11/38 767,493 $781,925
Belle International Holdings, Ltd. 1,705,000 $1,765,018
Berry Petroleum Co LLC, 6.375%, 9/15/22 700,000 $485,858
Bezeq The Israeli Telecommunication Corp, Ltd. 3,767,346 $6,937,160
BioScrip, Inc., 8.875%, 2/15/21 1,555,000 $1,346,511
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 44,551 $44,357
BioScrip, Inc., Initial Term B Loan, 7/31/20 89,103 $88,713
BlackRock MuniVest Fund, Inc. 671,115 $6,409,148
BlackRock MuniYield Fund, Inc. 463,299 $6,476,920
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 250,000 $250,782
Bombardier Recreational Products, Inc., Term B-2 Loan, 1/30/19 113,143 $113,527
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 935,000 $784,231
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 1,185,000 $1,048,577
BreitBurn Energy Partners LP, 7.875%, 4/15/22 430,000 $306,671
Bridgestone Corp. 181,500 $6,845,949
Britvic Plc 578,931 $6,208,505
Brookfield Residential Properties, Inc., 6.375%, 5/15/25 (144A) 2,375,000 $2,342,913
Builders Firstsource Inc Bridge L + 7.5% 13apr16 4,485,000 $4,485,000
Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A) 250,000 $246,892
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/20 (Cat Bond) (144A) 500,000 $508,844
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 3,550,000 $3,559,723
Calumet Specialty Products Partners LP, 7.625%, 1/15/22 170,000 $172,819
Calumet Specialty Products Partners LP, 7.75%, 4/15/23 (144A) 1,275,000 $1,329,754
Cambium Learning Group, Inc., 9.75%, 2/15/17 100,000 $105,496
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 100,000 $114,240
Cardinal Health, Inc. 67,629 $5,747,112
Carrizo Oil & Gas, Inc., 6.25%, 4/15/23 2,695,000 $2,630,174
CCO Holdings LLC, 5.75%, 1/15/24 165,000 $168,412
CCO Holdings LLC, 5.75%, 9/1/23 1,440,000 $1,508,700
CEB, Inc., 5.625%, 6/15/23 (144A) 2,065,000 $2,086,941
CenturyLink, Inc., 5.8%, 3/15/22 200,000 $198,632
CenturyLink, Inc., 6.45%, 6/15/21 700,000 $719,769
CenturyLink, Inc., 6.75%, 12/1/23 1,325,000 $1,343,219
CenturyLink, Inc., 7.6%, 9/15/39 450,000 $413,420
Cenveo Corp., 6.0%, 8/1/19 (144A) 3,455,000 $3,195,875
CEVA GROUP Plc 22 $16,598
CEVA GROUP Plc, 0.0%, 12/31/14 49 $35,927
Chaparral Energy, Inc., 7.625%, 11/15/22 2,105,000 $1,265,170
Charter Communications Operating L 1st Lien Bridge L + 6.625% 26may16 4,820,000 $4,820,000
Chevron Lubricants Lanka Plc 275,692 $846,206
Chiquita Brands International, Inc., 7.875%, 2/1/21 214,000 $237,941
CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33 130,000 $14,491
CHS, 6.875%, 2/1/22 2,540,000 $2,805,113
CHS, 8.0%, 11/15/19 1,065,000 $1,137,556
Citigroup, Inc., Floating Rate Note (Perpetual) 36,754 $1,027,274
Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/17/49 50,000 $51,469
Cliffs Natural Resources, Inc., 8.25%, 3/31/20 (144A) 1,950,000 $1,823,697
Cobalt International Energy, Inc., 2.625%, 12/1/19 1,300,000 $878,313
Comcast Corp., 4.75%, 3/1/44 1,625,000 $1,730,533
Commercial Metals Co., 4.875%, 5/15/23 745,000 $689,342
Commercial Vehicle Group, Inc., 7.875%, 4/15/19 350,000 $368,616
CommScope Holding Co, Inc., 6.625%, 6/1/20 (144A) (PIK) 570,000 $599,094
CommScope Technologies Finance LLC, 6.0%, 6/15/25 (144A) 1,190,000 $1,185,042
Compass Re II, Ltd., Floating Rate Note, 12/8/15 (Cat Bond) 500,000 $478,900
Comstock Resources, Inc., 7.75%, 4/1/19 1,110,000 $428,275
Constellis Holdings LLC, 9.75%, 5/15/20 (144A) 4,390,000 $4,287,567
ContourGlobal Power Holdings SA, 7.125%, 6/1/19 (144A) 865,000 $909,872
Corpbanca SA 156,006,993 $1,573,025
Corsicanto, Ltd., 3.5%, 1/15/32 250,000 $254,295
Countrywide Asset-Backed Certificates, 5.04826%, 1/25/36 (Step) 205,000 $206,567
Countrywide Asset-Backed Certificates, Floating Rate Note, 1/25/36 130,000 $51,661
Coveris Holding Corp., 10.0%, 6/1/18 (144A) 200,000 $212,333
Coveris Holdings SA, 7.875%, 11/1/19 (144A) 2,800,000 $2,819,257
Credit Suisse First Boston Mortgage Securities Corp., 5.5%, 6/25/33 100,000 $18,346
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 100,000 $102,140
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 855,000 $858,240
Credit Suisse Group AG 331,672 $9,755,134
Crestwood Midstream Partners LP, 6.125%, 3/1/22 385,000 $390,013
CVS Health Corp. 30,570 $3,438,208
Daimler AG 56,423 $5,043,613
Darling Ingredients, Inc., 5.375%, 1/15/22 455,000 $461,774
DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/12/44 (144A) 100,000 $111,219
DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A) 300,000 $229,913
Del Coronado Trust 2013-DEL MZ, Floating Rate Note, 3/15/18 (144A) 200,000 $199,990
Del Monte Foods, Inc., Initial Loan (Second Lien), 5/26/21 700,000 $638,313
Denbury Resources, Inc., 4.625%, 7/15/23 1,250,000 $902,569
Denbury Resources, Inc., 5.5%, 5/1/22 1,125,000 $907,031
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 1,280,000 $1,262,400
DISH DBS Corp., 5.875%, 11/15/24 1,720,000 $1,689,733
Doha Bank QSC 124,968 $1,818,972
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 1,710,000 $1,766,644
Dollar Tree, Inc., 5.75%, 3/1/23 (144A) 1,645,000 $1,776,988
DriveTime Automotive Group, Inc., 8.0%, 6/1/21 (144A) 4,130,000 $3,935,131
DynCorp International, Inc., 10.375%, 7/1/17 1,885,000 $1,448,897
easyJet Plc 232,555 $5,971,092
eBay, Inc. 174,456 $4,905,703
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/7/17 (Cat Bond) (144A) 275,000 $278,502
Endo, Ltd., 6.0%, 7/15/23 (144A) 2,885,000 $3,010,978
Endo Finance LLC, 5.375%, 1/15/23 (144A) 1,255,000 $1,271,326
Endo Finance LLC, 5.75%, 1/15/22 (144A) 1,260,000 $1,301,020
Energizer Holdings, Inc., 5.5%, 6/15/25 (144A) 1,205,000 $1,188,933
Energy Transfer Equity LP, 5.875%, 1/15/24 790,000 $805,953
Energy XXI, Ltd., 3.0%, 12/15/18 3,330,000 $443,584
Energy XXI Gulf Coast, Inc., 6.875%, 3/15/24 144,000 $35,060
EnerSys, 5.0%, 4/30/23 (144A) 1,210,000 $1,199,244
Engie 113,831 $2,184,006
EnPro Industries, Inc., 5.875%, 9/15/22 1,270,000 $1,310,887
Entegris, Inc., 6.0%, 4/1/22 (144A) 2,100,000 $2,194,500
EP Energy LLC, 6.375%, 6/15/23 (144A) 2,465,000 $2,332,275
EPL Oil & Gas, Inc., 8.25%, 2/15/18 50,000 $26,152
EPR Properties 138,202 $7,894,098
European Investment Bank, 7.2%, 7/9/19 (144A) 23,720,000,000 $1,642,863
Evergreen Skills Lux Sarl, Initial Term Loan (First Lien), 4/23/21 742,500 $724,247
ExamWorks Group, Inc., 5.625%, 4/15/23 1,210,000 $1,261,614
Exterran Partners LP, 6.0%, 4/1/21 700,000 $652,750
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 125,000 $137,109
Federal Home Loan Mortgage Corp., Floating Rate Note, 9/26/44 (144A) 50,000 $52,098
Federal National Mortgage Association REMICS, 3.5%, 1/25/29 500,000 $6,706
Ferrellgas LP, 6.5%, 5/1/21 625,000 $636,719
Ferrellgas LP, 6.75%, 1/15/22 2,305,000 $2,329,203
Fieldwood Energy LLC, Closing Date Loan (Second Lien), 9/30/20 856,610 $473,813
Filtration Group, Inc., Initial Term Loan (Second Lien), 11/15/21 50,532 $50,932
First Data Corp., 11.75%, 8/15/21 130,000 $154,593
First Gulf Bank PJSC 1,071,924 $4,523,810
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 1,015,000 $1,042,278
Florida East Coast Holdings Corp., 9.75%, 5/1/20 (144A) 1,330,000 $1,289,269
FMG Resources August 2006 Pty, Ltd., 9.75%, 3/1/22 (144A) 4,385,000 $4,145,835
FMG Resources August 2006 Pty, Ltd., Loan, 6/30/19 372,500 $306,187
Forum Energy Technologies, Inc., 6.25%, 10/1/21 500,000 $492,917
FREMF Mortgage Trust 2011-K12, Floating Rate Note, 1/25/46 (144A) 100,000 $107,760
Frisco Independent School District, 4.0%, 8/15/40 800,000 $822,660
Frisco Independent School District, 4.0%, 8/15/45 500,000 $512,152
Frontier Communications Corp., 11.125%, 6/29/18 21,750 $2,126,063
Frontier Communications Corp., 7.125%, 1/15/23 4,200,000 $3,803,800
Frontier Communications Corp., 8.5%, 4/15/20 157,000 $166,424
Frontier Communications Corp., 8.75%, 4/15/22 160,000 $162,822
Frontier Communications Corp., 9.25%, 7/1/21 800,000 $838,167
FTS International, Inc., Floating Rate Note, 6/15/20 (144A) 1,395,000 $1,358,310
GCI, Inc., 6.75%, 6/1/21 1,200,000 $1,240,500
GCI, Inc., 6.875%, 4/15/25 3,000,000 $3,121,250
GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A) 250,000 $250,788
GE Mortgage Services LLC, Floating Rate Note, 3/25/27 1,650,000 $50,536
General Cable Corp., 4.5%, 11/15/29 (Step) 1,410,000 $1,068,251
General Cable Corp., 5.75%, 10/1/22 2,090,000 $1,957,633
General Electric Capital Corp., 5.875%, 1/14/38 1,375,000 $1,690,337
Gilead Sciences, Inc. 66,330 $7,817,654
GLC Trust 2013-1, 3.0%, 7/15/21 (144A) 1,000,000 $577,663
Global Display Co, Ltd. 315,000 $1,213,179
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 755,000 $152,337
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 296,900 $62,277
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 300,000 $53,140
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 137,171 $27,100
Global Partners LP, 6.25%, 7/15/22 1,655,000 $1,556,160
Global Partners LP, 7.0%, 6/15/23 (144A) 2,070,000 $2,015,318
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 210,000 $201,406
Golden State RE II, Ltd., Floating Rate Note, 1/8/19 (Cat Bond) (144A) 550,000 $547,507
Gol LuxCo SA, 8.875%, 1/24/22 (144A) 1,960,000 $1,581,182
Google, Inc. 7,294 $4,795,805
Government National Mortgage Association REMICS, Floating Rate Note, 6/20/38 100,000 $2,145
Griffon Corp., 5.25%, 3/1/22 1,755,000 $1,749,516
GS Mortgage Securities Trust 2014-GSFL, Floating Rate Note, 7/15/31 (144A) 675,000 $670,191
Gulfport Energy Corp., 6.625%, 5/1/23 (144A) 1,270,000 $1,293,372
Gulfport Energy Corp., 7.75%, 11/1/20 2,205,000 $2,302,847
H&E Equipment Services, Inc., 7.0%, 9/1/22 2,200,000 $2,254,022
Halcon Resources Corp., 0.0% (Perpetual) 500 $88,250
Halcon Resources Corp., 8.875%, 5/15/21 235,000 $126,603
Halcon Resources Corp., 9.75%, 7/15/20 1,230,000 $669,530
Hexion, Inc., 6.625%, 4/15/20 680,000 $636,315
Hexion, Inc., 9.0%, 11/15/20 2,430,000 $1,771,470
Hiland Partners LP, 5.5%, 5/15/22 (144A) 370,000 $385,859
Hiland Partners LP, 7.25%, 10/1/20 (144A) 600,000 $661,750
HSBC Holdings Plc 98,170 $889,845
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 1,200,000 $909,000
Indonesia Treasury Bond, 8.375%, 3/15/24 11,501,000,000 $865,063
Indonesia Treasury Bond, 9.0%, 3/15/29 11,014,000,000 $856,865
Indo Tambangraya Megah Tbk PT 2,650,351 $1,900,552
International Business Machines Corp. 57,642 $9,337,428
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 2,960,000 $2,854,036
j2 Global, Inc., 8.0%, 8/1/20 325,000 $362,781
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 760,000 $710,283
Japan Tobacco, Inc. 343,800 $13,342,311
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 225,000 $250,313
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 1,800,000 $1,892,275
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 325,000 $357,507
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 1,350,000 $1,240,200
Johnson & Johnson 251,520 $25,204,819
Jonah Energy Llc 2nd Lien Tl L + 6.5% 08may21 1,034,680 $946,732
JPMorgan Chase & Co. 188,686 $12,930,652
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 540,000 $590,288
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 225,000 $230,272
JP Morgan Chase Commercial Mortgage Securities Trust 2014-CBM MZ, Floating Rate Note, 10/15/19 (144A 1,960,000 $1,972,206
JP Morgan Chase Commercial Mortgage Securities Trust 2014-FBLU REMICS, Floating Rate Note, 12/15/28 1,250,000 $1,251,588
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 420,500 $435,091
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 800,400 $818,729
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 825,900 $839,527
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,141,875 $1,161,401
Kane Sac Zero% 15jun16 800,000 $773,840
Kane Zero% 19feb16 700,000 $749,280
Kane Zero% 29apr16 1,300,000 $1,375,270
KB Home, 7.625%, 5/15/23 4,305,000 $4,578,786
KB Home, 8.0%, 3/15/20 50,000 $56,761
KeHE Distributors LLC, 7.625%, 8/15/21 (144A) 685,000 $748,472
Kennedy-Wilson, Inc., 5.875%, 4/1/24 1,210,000 $1,223,108
Keurig Green Mountain, Inc. 69,876 $5,243,495
Key Energy Services, Inc., 6.75%, 3/1/21 295,000 $152,847
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 700,000 $691,060
Kinder Morgan Energy Partners LP, 5.0%, 8/15/42 100,000 $87,593
Kindred Healthcare, Inc., 6.375%, 4/15/22 3,175,000 $3,310,004
Kindred Healthcare, Inc., 8.0%, 1/15/20 (144A) 430,000 $467,004
Lantheus Medical Imaging Inc 1st Lien Tl-B L + 6% 25jun22 250,000 $247,188
Leaf Receivables Funding 10 LLC, 5.21%, 7/15/21 (144A) 750,000 $742,411
Legacy Reserves LP, 6.625%, 12/1/21 1,025,000 $805,693
Liberty Tire Recycling Llc 3,071 $31
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 63,000 $46,066
Linn Energy LLC, 6.25%, 11/1/19 2,100,000 $1,304,615
Linn Energy LLC, 6.5%, 9/15/21 1,200,000 $719,467
Linn Energy LLC, 7.75%, 2/1/21 130,000 $79,940
LMI Aerospace, Inc., 7.375%, 7/15/19 1,615,000 $1,567,806
Lockheed Martin Corp., 3.8%, 3/1/45 1,875,000 $1,695,708
Lukoil International Finance BV, 6.125%, 11/9/20 (144A) 4,392,000 $4,519,506
Mallinckrodt International Finance SA, 5.5%, 4/15/25 (144A) 3,000,000 $3,071,083
Mapletree Industrial Trust 4,041,200 $4,491,583
Mapletree Logistics Trust 2,260,200 $1,829,506
MasTec, Inc., 4.875%, 3/15/23 1,685,000 $1,501,195
MASTR Adjustable Rate Mortgages Trust 2005-1, Floating Rate Note, 1/25/35 300,000 $23,304
MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34 350,000 $64,645
McDermott International, Inc., 8.0%, 5/1/21 (144A) 860,000 $758,950
MCGRAW-HILL SCHOOL EDUCATION HOLDINGS LLC, Term B Loan, 12/18/19 886,500 $893,703
MedAssets, Inc., 8.0%, 11/15/18 100,000 $104,814
Medtronic, Inc., 4.625%, 3/15/45 (144A) 1,675,000 $1,723,879
Memorial Production Partners LP, 6.875%, 8/1/22 2,965,000 $2,473,922
Memorial Production Partners LP, 7.625%, 5/1/21 740,000 $635,706
Memorial Resource Development Corp., 5.875%, 7/1/22 630,000 $596,859
Merck & Co, Inc. 250,287 $14,756,922
Meritor, Inc., 6.25%, 2/15/24 645,000 $665,201
Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36 500,000 $72,542
Merrill Lynch Mortgage Trust 2005-CKI1, Floating Rate Note, 11/12/37 2,300,000 $2,310,074
MGM Resorts International, 6.0%, 3/15/23 2,835,000 $2,948,873
Micron Technology, Inc., 5.5%, 2/1/25 (144A) 1,225,000 $1,220,406
Microsoft Corp. 268,433 $12,535,821
Millar Western Forest Products, Ltd., 8.5%, 4/1/21 1,460,000 $1,413,767
Mirabela Nickel, Ltd. 159,303 $11,398
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 27,430 $22,378
Mitsubishi Electric Corp. 350,000 $3,756,474
Mitsubishi UFJ Financial Group, Inc. 983,900 $7,137,754
Mj Acquisition Corp 2nd Lien L + 8% 08apr23 2,025,000 $2,036,340
ML-CFC Commercial Mortgage Trust 2006-4, 5.239%, 12/12/49 3,000,000 $3,039,282
Monitronics International, Inc., 9.125%, 4/1/20 965,256 $965,658
Monitronics International, Inc., Term B Loan (2013), 3/23/18 26,232 $26,355
Morgan Stanley, Floating Rate Note (Perpetual) 30,000 $839,400
Morgan Stanley Capital I Trust 2007-IQ15, Floating Rate Note, 6/11/49 100,000 $106,525
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 1,000,000 $1,098,583
MPT Operating Partnership LP, 5.5%, 5/1/24 1,130,000 $1,179,438
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A) 500,000 $508,493
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A) 250,000 $251,489
NANA Development Corp., 9.5%, 3/15/19 (144A) 2,580,000 $2,517,793
Nations Equipment Finance Funding I LLC, 5.5%, 5/20/21 (144A) 200,000 $200,836
Nationstar Mortgage LLC, 6.5%, 6/1/22 1,995,000 $1,837,063
Nationstar Mortgage LLC, 6.5%, 7/1/21 1,915,000 $1,798,504
Nationstar Mortgage LLC, 6.5%, 8/1/18 455,000 $465,520
Navitas Equipment Receivables LLC 2013-1, 5.82%, 6/15/19 250,000 $251,699
Navitas Equipment Receivables LLC 2015-1, 5.75%, 5/17/21 (144A) 1,000,000 $1,004,812
NCF Dealer Floorplan Master Trust, Floating Rate Note, 10/20/20 (144A) 600,000 $600,938
Neopost SA 50,223 $2,019,077
NetApp, Inc. 130,072 $4,051,743
NeuStar, Inc., 4.5%, 1/15/23 2,650,000 $2,257,800
New Jersey Educational Facilities Authority, 4.0%, 7/1/45 900,000 $945,778
Nippon Telegraph & Telephone Corp. 100,600 $3,875,218
Noble Energy, Inc., 5.875%, 6/1/22 1,370,000 $1,483,222
Noble Energy, Inc., 5.875%, 6/1/24 680,000 $744,522
Nordea Bank AB 744,543 $9,263,931
Northern Oil and Gas, Inc., 8.0%, 6/1/20 (144A) 1,365,000 $1,223,343
Novartis AG 65,780 $6,831,645
NRG Energy, Inc., 6.25%, 5/1/24 2,825,000 $2,819,703
NRG Energy, Inc., 6.25%, 7/15/22 600,000 $603,167
NRG Energy, Inc., 6.625%, 3/15/23 635,000 $660,418
Oasis Petroleum, Inc., 6.875%, 3/15/22 250,000 $236,493
Ocean Rig UDW, Inc., 7.25%, 4/1/19 (144A) 210,000 $137,375
Oct15 Spx P @ 1790.78 -45,092 $-245,730
Oct15 Spx P @ 2001.46 45,092 $1,041,482
Ocwen Loan Servicing LLC, Initial Term Loan, 2/15/18 108,016 $107,864
Oracle Corp., 4.125%, 5/15/45 1,825,000 $1,741,403
Orange SA 322,085 $5,282,774
Outerwall, Inc., 5.875%, 6/15/21 4,150,000 $3,984,029
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 450,000 $462,700
Pacific Textiles Holdings, Ltd. 2,321,000 $3,688,695
Pangaea Zero% 01jul18 1,050,000 $18,900
Parker Drilling Co., 7.5%, 8/1/20 170,000 $154,275
Parsley Energy LLC, 7.5%, 2/15/22 (144A) 1,570,000 $1,628,221
PAX Global Technology, Ltd. 1,369,000 $2,184,380
PBF Logistics LP, 6.875%, 5/15/23 (144A) 690,000 $698,685
PDC Energy, Inc., 7.75%, 10/15/22 200,000 $210,814
Pelican Products, Inc., Term Loan (First Lien), 4/8/20 229,612 $230,760
Penn Virginia Corp., 6.0% (Perpetual) (144A) 6,300 $82,026
Penn Virginia Corp., 7.25%, 4/15/19 200,000 $89,769
Penn Virginia Corp., 8.5%, 5/1/20 650,000 $319,313
Penn Virginia Resource Partners LP, 6.5%, 5/15/21 226,000 $242,913
Petco Holdings, Inc., 8.5%, 10/15/17 (144A) (PIK) 460,000 $483,875
Pfizer, Inc. 813,946 $29,350,893
Pilgrim's Pride Corp., 5.75%, 3/15/25 (144A) 1,350,000 $1,410,563
Pioneer Energy Services Corp., 6.125%, 3/15/22 775,000 $556,558
PLA Administradora Industrial S de RL de CV 498,730 $1,007,857
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 1,775,000 $1,735,358
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 3,375,000 $3,438,281
PPL Capital Funding, Inc., 5.9%, 4/30/73 10,000 $256,900
Premier Investment Corp. 345 $1,805,869
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 50,000 $45,985
Provident Funding Associates LP, 6.75%, 6/15/21 (144A) 3,325,000 $3,220,678
Prysmian S.p.A. 41,330 $947,549
Publicis Groupe SA 33,646 $2,544,627
QUALCOMM, Inc. 57,975 $3,733,010
Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A) 500,000 $505,428
Quicken Loans, Inc., 5.75%, 5/1/25 (144A) 3,300,000 $3,237,552
Radio Systems Corp., 8.375%, 11/1/19 (144A) 250,000 $269,609
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 950,000 $941,292
Rain CII Carbon LLC, 8.25%, 1/15/21 (144A) 2,375,000 $2,330,271
RASC Series 2003-KS5 Trust, 4.96%, 7/25/33 (Step) 139,000 $82,842
Rayonier AM Products, Inc., 5.5%, 6/1/24 (144A) 515,000 $441,183
Regal Entertainment Group, 5.75%, 2/1/25 2,000,000 $2,000,000
Rent-A-Center, Inc., 4.75%, 5/1/21 1,985,000 $1,760,447
Rent-A-Center, Inc., 6.625%, 11/15/20 1,135,000 $1,138,105
Rentech Nitrogen Partners LP, 6.5%, 4/15/21 (144A) 1,875,000 $1,868,698
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 600,000 $612,135
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 500,000 $504,625
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 250,000 $262,900
Resolute Forest Products, Inc., 5.875%, 5/15/23 2,155,000 $1,826,153
Revlon Consumer Products Corp., 5.75%, 2/15/21 2,400,000 $2,463,633
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 950,000 $989,583
Rice Energy, Inc., 6.25%, 5/1/22 785,000 $754,091
Rite Aid Corporation 1st Lien Bridge L + 6% 10feb16 4,185,000 $4,185,000
Roche Holding AG 46,646 $13,451,587
RSP Permian, Inc., 6.625%, 10/1/22 (144A) 1,115,000 $1,147,985
Sabine Pass Liquefaction LLC, 5.625%, 3/1/25 (144A) 690,000 $695,606
Sabine Pass Liquefaction LLC, 5.75%, 5/15/24 1,365,000 $1,373,891
Sabre GLBL, Inc., 5.375%, 4/15/23 (144A) 1,785,000 $1,804,592
SAF-Holland SA 253,885 $3,839,617
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 500,000 $517,389
Sanchez Energy Corp., 6.125%, 1/15/23 2,830,000 $2,300,004
Sanders Re, Ltd., Floating Rate Note, 5/25/18 (Cat Bond) (144A) 500,000 $486,292
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 250,000 $246,786
SandRidge Energy, Inc., 7.5%, 2/15/23 50,000 $16,979
SandRidge Energy, Inc., 7.5%, 3/15/21 380,000 $124,767
Scds: (Mbi) Usd 20dec15 Buy Bnr1j2x80 2,000,000 $-48,887
Scientific Games International, Inc., 10.0%, 12/1/22 4,100,000 $4,050,458
Scientific Games International, Inc., 6.25%, 9/1/20 3,125,000 $2,568,740
Sealed Air Corp., 6.875%, 7/15/33 (144A) 2,350,000 $2,404,181
Sector Re V, Ltd., 0.0%, 3/1/20 (Cat Bond) (144A) 1,400,000 $1,412,740
Sekisui Chemical Co, Ltd. 571,000 $6,359,496
SFX Entertainment, Inc., 9.625%, 2/1/19 (144A) 2,650,000 $2,393,281
Shire Plc 114,369 $10,165,622
Silver Bay Realty 2014-1 Trust, Floating Rate Note, 9/18/31 (144A) 1,200,000 $1,174,437
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 700,000 $776,300
SM Energy Co., 5.0%, 1/15/24 1,300,000 $1,192,389
SM Energy Co., 5.625%, 6/1/25 485,000 $463,630
Societatea Nationala de Gaze Naturale ROMGAZ SA 26,968 $230,902
Sotheby's, 5.25%, 10/1/22 (144A) 2,635,000 $2,621,825
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 270,000 $258,150
Spirit Master Funding LLC, 5.74%, 3/20/42 (144A) 178,672 $195,878
Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/26/59 (144A) 100,000 $103,241
Springleaf Mortgage Loan Trust 2013-1, Floating Rate Note, 6/25/58 (144A) 250,000 $258,779
Springs Industries, Inc., 6.25%, 6/1/21 4,445,000 $4,469,077
Sprint Corp., 7.125%, 6/15/24 2,455,000 $2,268,676
Sprint Corp., 7.25%, 9/15/21 2,000,000 $1,967,278
Stackpole International Intermediate, 7.75%, 10/15/21 (144A) 2,675,000 $2,622,355
Steel Dynamics, Inc., 5.125%, 10/1/21 1,455,000 $1,476,219
Sterigenics-Nordion Holdings LLC, 6.5%, 5/15/23 (144A) 1,345,000 $1,393,719
StoneMor Partners LP, 7.875%, 6/1/21 855,000 $900,422
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 250,000 $250,966
Summit Midstream Holdings LLC, 7.5%, 7/1/21 325,000 $341,656
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 1,095,000 $1,113,478
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 665,000 $676,222
Sunoco LP, 6.375%, 4/1/23 (144A) 3,225,000 $3,382,219
Swedbank AB 161,853 $3,789,423
Swift Energy Co., 7.875%, 3/1/22 1,195,000 $337,961
Swift Energy Co., 8.875%, 1/15/20 355,000 $93,700
Talen Energy Supply LLC, 4.625%, 7/15/19 (144A) 2,765,000 $2,687,734
Talen Energy Supply LLC, 6.5%, 6/1/25 (144A) 925,000 $918,525
Taylor Morrison Communities, Inc., 5.875%, 4/15/23 1,840,000 $1,873,829
TCP Capital Corp. 590,815 $8,986,296
TDC A/S 432,294 $3,257,926
TEGNA, Inc., 6.375%, 10/15/23 1,505,000 $1,619,788
Templar Energy Llc 1st Lien Tl-B L + 7.5% 25nov20 2,955,000 $1,856,724
TerraForm Power Operating LLC, 6.125%, 6/15/25 (144A) 825,000 $829,028
The Bank of New York Mellon Corp., Floating Rate Note (Perpetual) 400,000 $372,050
The Kraft Heinz Co. 75,552 $6,004,117
The PNC Financial Services Group, Inc. 95,943 $9,419,684
The Ryland Group, Inc., 5.375%, 10/1/22 205,000 $211,235
Titan International, Inc., 6.875%, 10/1/20 555,000 $502,145
T-Mobile USA, Inc., 6.0%, 3/1/23 3,000,000 $3,202,500
T-Mobile USA, Inc., 6.5%, 1/15/24 215,000 $227,648
T-Mobile USA, Inc., 6.836%, 4/28/23 335,000 $358,641
TMS International Corp., 7.625%, 10/15/21 (144A) 2,005,000 $1,988,794
TMX Finance LLC, 8.5%, 9/15/18 (144A) 1,290,000 $1,066,973
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 550,000 $336,852
Tops Holding LLC, 8.0%, 6/15/22 (144A) 2,825,000 $2,835,829
Toyota Motor Corp. 25,200 $1,679,645
TRAC Intermodal LLC, 11.0%, 8/15/19 50,000 $59,322
Transcend Information, Inc. 1,542,000 $4,568,071
Transfield Services, Ltd., 8.375%, 5/15/20 (144A) 635,000 $681,152
TransUnion 8,516 $213,752
TriplePoint Venture Growth BDC Corp. 300,000 $3,858,000
Triumph Group, Inc., 5.25%, 6/1/22 550,000 $546,563
Tronox Finance LLC, 6.375%, 8/15/20 2,500,000 $2,123,490
Tronox Finance LLC, 7.5%, 3/15/22 (144A) 2,535,000 $2,148,413
Truven Health Analytics, Inc., 10.625%, 6/1/20 80,000 $85,017
UBS Group AG 461,105 $10,595,144
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 100,000 $100,098
United Rentals North America, Inc., 5.75%, 11/15/24 640,000 $633,369
Universal Hospital Services, Inc., 7.625%, 8/15/20 2,085,000 $2,022,783
University of Virginia, 5.0%, 4/1/45 5,000,000 $5,857,522
Univision Communications, Inc., 5.125%, 2/15/25 (144A) 1,060,000 $1,087,096
Univision Communications, Inc., Replacement First-Lien Term Loan, 3/1/20 58,600 $58,641
US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21 150,000 $150,670
Valero Energy Corp., 6.625%, 6/15/37 100,000 $115,047
Velocity Commercial Capital Loan Trust 2015-1, Floating Rate Note, 6/25/45 (144A) 1,000,000 $1,013,958
Vers 2015-A Zero% 31dec17 800,000 $854,880
Vertafore, Inc., Term Loan (2013), 10/3/19 95,549 $95,823
Vina San Pedro Tarapaca SA 1,309,837,958 $11,090,123
Voya Financial, Inc., Floating Rate Note, 5/15/53 300,000 $310,058
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45 84,000 $85,009
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 25,000 $26,128
Wasion Group Holdings, Ltd. 2,240,000 $2,951,443
Waterjet Holdings, Inc., 7.625%, 2/1/20 (144A) 2,505,000 $2,669,391
WCP ISSUER LLC, 6.657%, 8/15/43 (144A) 100,000 $105,459
Wells Fargo & Co., Floating Rate Note (Perpetual) 2,100,000 $2,165,982
Westgate Resorts 2014-1 LLC, 5.5%, 12/20/26 (144A) 800,000 $604,491
Westgate Resorts LLC, 9.5%, 2/20/25 (144A) 5,000,000 $1,052,346
WFRBS Commercial Mortgage Trust 2011-C3, Floating Rate Note, 3/15/44 (144A) 100,000 $109,701
WFRBS Commercial Mortgage Trust 2013-C12, Floating Rate Note, 3/17/48 (144A) 100,000 $97,821
WH Group, Ltd. 6,468,500 $4,143,905
Windstream Services LLC, 6.375%, 8/1/23 2,680,000 $2,162,425
Windstream Services LLC, 7.5%, 6/1/22 770,000 $642,950
Windstream Services LLC, 7.75%, 10/1/21 590,000 $513,792
WMG Acquisition Corp., 5.625%, 4/15/22 (144A) 1,900,000 $1,950,469
WMG Acquisition Corp., 6.75%, 4/15/22 (144A) 1,625,000 $1,600,422
WPX Energy, Inc., 7.5%, 8/1/20 1,300,000 $1,321,938
WPX Energy, Inc., 8.25%, 8/1/23 2,900,000 $2,953,106
WR Grace & Co-Conn, 5.625%, 10/1/24 (144A) 2,350,000 $2,441,063
Wynn Macau, Ltd., 5.25%, 10/15/21 (144A) 1,120,000 $1,082,713
Xerium Technologies, Inc., 8.875%, 6/15/18 1,130,000 $1,176,715
XPO Logistics, Inc., 7.875%, 9/1/19 (144A) 1,375,000 $1,514,648
Yageo Corp. 2,719,000 $3,857,678
Zebra Technologies Corp., 7.25%, 10/15/22 (144A) 1,150,000 $1,283,799
Zero% 30nov19 2,000,000 $2,031,600
Zero% 31aug16 1,000,000 $1,014,200
Zurich Insurance Group AG 18,758 $5,706,776

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