Pioneer Flexible Opportunities Fund

Top 10 Portfolio Holdings as of 6/30/2015
Default: sorted by market value

Security Name Par / Shares Market Value
Abbott Laboratories 61,961 $3,041,046
Aetna, Inc. 65,141 $8,302,872
AIA Group, Ltd. 124,400 $813,074
Airbus Group NV 66,920 $4,334,074
Air China, Ltd. 1,941,306 $2,172,464
Aitken Spence Hotel Holdings Plc 453,648 $254,644
Ajinomoto Co, Inc. 76,000 $1,645,296
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 3,600,000 $3,862,800
Allianz SE 22,989 $3,577,913
Amada Holdings Co, Ltd. 165,700 $1,749,821
American International Group, Inc. 145,413 $8,989,432
AmerisourceBergen Corp. 36,344 $3,864,821
Amphenol Corp. 73,020 $4,232,969
AngloGold Ashanti Holdings Plc, 5.125%, 8/1/22 7,500,000 $7,372,479
AngloGold Ashanti Holdings Plc, 8.5%, 7/30/20 8,500,000 $9,683,153
Anhui Expressway Co, Ltd. 2,654,000 $2,823,449
Apple, Inc. 37,864 $4,749,092
Atlas Copco A Ord 27,787 $776,131
Aug15 Aal C @ 42.000000 4,321 $676,237
Aug15 Clq5 P @ 55 2,000 $660,000
Aug15 Clq5 P @ 58 -4,000 $-3,720,000
Aug15 Clq5 P @ 61 2,000 $4,680,000
Aug15 Dax C @ 11500.000000 1,500 $1,856,813
Aug15 Meu5 P @ 1960 1,500 $1,762,500
Aug15 Meu5 P @ 2020 -3,000 $-5,595,000
Aug15 Meu5 P @ 2100 1,500 $5,167,500
Aug15 Sx5e C @ 3625.000000 1,750 $1,297,916
Aug15 Sx5e C @ 3650.000000 2,000 $1,145,655
Aug15 Vips C @ 24.000000 5,000 $600,000
Autohome, Inc. (A.D.R.) 33,346 $1,685,307
Axis Bank, Ltd. 232,428 $2,034,742
Ayala Corp. 191,820 $3,357,468
Ball Corp., 4.0%, 11/15/23 1,586,000 $1,479,121
Bank of Ireland 6,669,816 $2,691,754
Bank Rakyat Indonesia Persero Tbk PT 2,236,300 $1,727,129
Baxter International, Inc. 11,812 $826,013
Bayer AG 17,333 $2,424,499
BDO Unibank, Inc. 510,120 $1,225,123
Becton Dickinson and Co. 5,505 $779,783
Beijing Capital International Airport Co, Ltd. 1,446,000 $1,660,001
Beijing Capital Land, Ltd. 5,172,000 $3,963,541
Beijing Enterprises Water Group, Ltd. 6,058,000 $4,933,211
Bertrandt AG 6,058 $794,697
BlackRock MuniVest Fund, Inc. 62,300 $594,342
BlackRock MuniYield Fund, Inc. 44,100 $610,344
BNP Paribas SA 26,601 $1,603,282
Bolsas y Mercados Espanoles SHMSF SA 29,534 $1,192,754
Boston Scientific Corp. 92,466 $1,636,648
Cardinal Health, Inc. 49,302 $4,124,112
CBS Corp. (Class B) 30,876 $1,713,618
Celgene Corp. 52,481 $6,073,889
Central Japan Railway Co. 19,100 $3,447,890
Cheung Kong Infrastructure Holdings, Ltd. 357,000 $2,770,478
China Communications Construction Co, Ltd. 1,367,000 $2,041,917
China Eastern Airlines Corp, Ltd. 3,422,000 $2,851,458
China Everbright, Ltd. 204,000 $705,687
China Everbright International, Ltd. 1,590,000 $2,832,901
China High Speed Transmission Equipment Group Co, Ltd. 3,819,000 $3,309,020
China Maple Leaf Educational Systems, Ltd. 4,100,523 $1,261,892
China Overseas Land & Investment, Ltd. 444,000 $1,565,097
China Power International Development, Ltd. 3,828,000 $2,901,948
China Railway Construction Corp, Ltd. 1,129,500 $1,743,127
China Resources Land, Ltd. 1,498,000 $4,823,526
China Singyes Solar Technologies Holdings, Ltd. 2,131,703 $2,732,927
China Southern Airlines Co, Ltd. 1,440,000 $1,636,513
China Vanke Co, Ltd. 329,800 $807,988
Comcast Corp. 27,980 $1,682,717
COMM 2006-C8 Mortgage Trust, 5.377%, 12/10/46 3,000,000 $3,028,295
CommScope, Inc., Tranche 4 Term Loan, 1/14/18 125,790 $125,915
Concho Resources, Inc., 7.0%, 1/15/21 2,800,000 $3,019,878
CT Environmental Group, Ltd. 2,866,000 $3,802,880
CVS Health Corp. 80,191 $8,410,432
Daimler AG 53,336 $4,850,664
Daiwa House Industry Co, Ltd. 73,400 $1,710,222
Dalian Wanda Commercial Properties Co, Ltd. 473,700 $3,789,629
Danske Bank A/S 55,448 $1,633,072
Deutsche Annington Immobilien SE 24,173 $681,188
Deutsche Euroshop AG 27,104 $1,189,444
Deutsche Wohnen AG 78,203 $1,791,224
Dollar General Corp. 30,600 $2,378,844
Dongjiang Environmental Co, Ltd. 1,262,400 $2,712,822
East Japan Railway Co. 53,200 $4,783,511
EVA Precision Industrial Holdings, Ltd. 3,768,000 $1,105,925
Ezion Holdings, Ltd. 1,081,400 $818,528
First Gulf Bank PJSC 792,323 $3,267,187
First Republic Bank/CA 65,618 $4,135,903
Forbo Holding AG 2,296 $2,726,958
Franshion Properties China, Ltd. 4,312,000 $1,533,016
Fuji Heavy Industries, Ltd. 90,600 $3,328,356
Gazprom OAO Via Gaz Capital SA, 3.85%, 2/6/20 (144A) 4,400,000 $4,121,247
Georg Fischer AG 2,748 $1,887,314
Gilead Sciences, Inc. 33,760 $3,952,621
Glenmark Pharmaceuticals, Ltd. 300,385 $4,706,642
Gold Fields Orogen Holdings BVI, Ltd., 4.875%, 10/7/20 (144A) 21,086,000 $19,533,543
Great Portland Estates Plc 66,842 $816,965
Greenland Hong Kong Holdings, Ltd. 2,588,000 $1,985,464
Green Real Estate Investment Trust plc 1,014,794 $1,673,620
Guangzhou R&F Properties Co, Ltd. 3,100,800 $3,774,404
Guggenheim S&P Global Water Index ETF 41,792 $1,194,833
Hanesbrands, Inc., 6.375%, 12/15/20 1,943,000 $2,035,940
Harris Corp. 14,599 $1,122,809
Hatton National Bank Plc 1,310,069 $2,113,670
HCA Holdings, Inc. 36,314 $3,294,406
Hibernia Real Estate Investment Trust plc 296,988 $411,730
Hill-Rom Holdings, Inc. 70,155 $3,811,521
Hilton Worldwide Holdings, Inc. 111,788 $3,079,759
Hitachi Capital Corp. 33,400 $882,610
Hitachi Kokusai Electric, Inc. 28,000 $425,565
Honeywell International, Inc. 23,387 $2,384,772
Hoshino Resorts Reit Inc 109 $1,203,918
Hoshizaki Electric Co, Ltd. 24,100 $1,416,850
Housing Development Finance Corp, Ltd. 61,084 $1,245,281
Huadian Power International Corp, Ltd. 3,212,000 $3,529,503
Huaneng Renewables Corp, Ltd. 3,652,000 $1,461,143
Huntington Ingalls Industries, Inc. 8,558 $963,545
Illinois Tool Works, Inc. 26,325 $2,416,372
INC Research Holdings, Inc. 84,501 $3,390,180
Indonesia Government International Bond, 5.875%, 1/15/24 (144A) 2,871,000 $3,250,231
Indonesia Government International Bond, 6.75%, 1/15/44 (144A) 2,242,000 $2,670,502
Interroll Holding AG 1,313 $835,455
IRB Infrastructure Developers, Ltd. 212,754 $775,139
iShares MSCI Sweden ETF 34,771 $1,104,675
Japan Hotel Real Estate Investment Trust Investment Corp. 1,242 $825,862
Japara Healthcare, Ltd. 748,546 $1,475,817
JD.com, Inc. (A.D.R.) 24,096 $821,674
JG Summit Holdings, Inc. 795,330 $1,268,907
Johnson Controls, Inc. 40,381 $2,000,071
Jones Lang LaSalle, Inc. 19,336 $3,306,456
JPMorgan Chase & Co. 30,302 $2,053,264
JP Morgan Chase Commercial Mortgage Securities Trust 2006-LDP7 REMICS, Floating Rate Note, 4/15/45 2,384,000 $2,389,618
Jul15 Hscei P @ 13200 400 $1,586,779
Jul15 Jd C @ 35.000000 7,000 $507,500
Julius Baer Group, Ltd. 96,516 $5,421,295
Juniper Networks, Inc. 61,746 $1,603,544
Kaba Holding AG 1,249 $742,999
KB Home 50,044 $830,730
Keppel Corp, Ltd. 56,900 $346,638
Keppel Real Estate Investment Trust 708 $601
Keyence Corp. 6,000 $3,235,514
Kindred Healthcare, Inc. 78,769 $1,598,223
Kinross Gold Corp., 5.125%, 9/1/21 14,500,000 $14,718,940
Kinross Gold Corp., 5.95%, 3/15/24 4,350,000 $4,203,372
KKR & Co LP 70,612 $1,613,484
Kwgpro 8.25% 05aug19 Regs 2,000,000 $2,061,517
KWG Property Holding, Ltd. 4,941,500 $4,164,164
Lam Research Corp. 41,119 $3,345,031
Largan Precision Co, Ltd. 25,000 $2,858,161
LEG Immobilien AG 5,852 $406,279
Lennar Corp. 40,493 $2,066,763
Leonteq AG 23,658 $4,096,927
LifePoint Hospitals, Inc. 29,964 $2,605,370
Lindsay Corp. 14,889 $1,308,892
Longfor Properties Co, Ltd. 1,237,000 $1,957,006
Lonza Group AG 13,100 $1,753,577
Lukoil International Finance BV, 4.563%, 4/24/23 (144A) 4,677,000 $4,202,248
Lukoil International Finance BV, 6.125%, 11/9/20 (144A) 5,682,000 $5,832,557
Lukoil International Finance BV, 7.25%, 11/5/19 (144A) 4,500,000 $4,793,750
LyondellBasell Industries NV 30,784 $3,186,760
Mapletree Greater China Commercial Trust 3,298,500 $2,496,485
Market Vectors Vietnam ETF 179,777 $3,351,043
Marriott International, Inc./MD 54,690 $4,068,389
MasterCard, Inc. 39,281 $3,671,988
McKesson Corp. 8,720 $1,960,343
Medtronic Plc 32,032 $2,373,571
MEIJI Holdings Co, Ltd. 8,500 $1,096,585
Meritor, Inc. 232,505 $3,050,466
Merlin Properties Socimi SA 64,367 $785,705
Metropolitan Bank & Trust Co. 413,720 $862,352
MGM Resorts International, 6.625%, 12/15/21 5,523,000 $5,787,797
Minebea Co, Ltd. 49,000 $808,082
Mitsubishi Electric Corp. 225,000 $2,900,941
Mitsubishi UFJ Financial Group, Inc. 234,900 $1,681,201
Mizuho Financial Group, Inc. 1,519,900 $3,277,934
MMC Norilsk Nickel OJSC (A.D.R.) 91,684 $1,546,709
Morgan Stanley Capital I Trust 2007-TOP25, Floating Rate Note, 11/12/49 3,000,000 $3,053,523
Murata Manufacturing Co, Ltd. 17,100 $2,981,918
My EG Services Bhd 3,017,400 $2,221,862
Nam Cheong, Ltd. 2,634,000 $537,053
National Development Bank Plc 649,064 $1,270,119
NEC Corp. 349,000 $1,057,230
New China Life Insurance Co, Ltd. 554,200 $3,304,354
Next Plc 32,979 $3,868,519
NIKE, Inc. (Class B) 45,890 $4,957,038
Northrop Grumman Corp. 45,913 $7,283,179
Northshore Re, Ltd., Floating Rate Note, 7/5/16 (Cat Bond) (144A) 1,000,000 $1,031,326
Novartis AG 27,458 $2,711,669
NSK, Ltd. 261,000 $4,029,129
NS Solutions Corp. 12,400 $413,539
PAX Global Technology, Ltd. 2,025,000 $2,902,196
PChome Online, Inc. 50,000 $824,144
Petrobras Global Finance BV, 5.875%, 3/1/18 5,957,000 $6,192,798
Pioneer Custom Basket Usd Buy -31,555,297 $-985,073
Poly Property Group Co, Ltd. 2,592,000 $1,242,896
PowerShares Buyback Achievers Portfolio 448,678 $21,810,238
Powershares International Buyback 58,941 $1,616,752
PPG Industries, Inc. 30,046 $3,446,877
Prospect Capital Corp., 5.875%, 3/15/23 3,800,000 $3,907,517
Prudential Financial, Inc. 68,354 $5,982,342
Publicis Groupe SA 42,762 $3,157,026
Ramsay Health Care, Ltd. 8,088 $382,959
Raytheon Co. 47,153 $4,511,599
Remy Cointreau SA 49,346 $3,550,113
REN - Redes Energeticas Nacionais SGPS SA 532,832 $1,490,456
Reynolds American, Inc. 32,041 $2,392,181
Roche Holding AG 21,979 $6,169,691
Rockwell Automation, Inc. 25,470 $3,174,581
Rockwell Collins, Inc. 59,291 $5,475,524
Russian Foreign Bond - Eurobond, 3.5%, 1/16/19 (144A) 12,400,000 $12,397,417
Safran SA 48,560 $3,286,946
Schlumberger, Ltd. 18,733 $1,614,597
Secom Co, Ltd. 38,600 $2,504,285
Sekisui House, Ltd. 78,500 $1,243,737
Shanghai Jin Jiang International Hotels Group Co, Ltd. 2,644,000 $1,161,285
Sheng Siong Group, Ltd. 1,749,200 $1,077,551
Shenzhen Expressway Co, Ltd. 3,622,000 $2,885,937
Shenzhen International Holdings, Ltd. 1,194,000 $2,067,787
Shimizu Corp. 102,000 $858,794
Shine Corporate, Ltd. 538,828 $1,022,052
Shionogi & Co, Ltd. 68,400 $2,649,883
Shire Plc (A.D.R.) 3,331 $804,403
Shui On Land, Ltd. 3,884,500 $1,093,138
Sino Biopharmaceutical, Ltd. 1,384,000 $1,597,584
SM Prime Holdings, Inc. 2,854,500 $1,263,068
Societe BIC SA 7,452 $1,189,043
SPDR S&P Euro Dividend Aristocrats UCITS ETF 186,015 $4,349,287
SPDR S&P Global Dividend Aristocrats ETF 87,827 $2,810,944
SPDR S&P UK Dividend Aristocrats UCITS ETF 219,314 $4,286,063
SPDR S&P US Dividend Aristocrats UCITS ETF 275,596 $10,824,950
Spirit AeroSystems Holdings, Inc. 89,930 $4,956,042
Stanley Black & Decker, Inc. 15,967 $1,680,367
Star Energy Geothermal Wayang Windu, Ltd., 6.125%, 3/27/20 (144A) 1,700,000 $1,650,399
Starwood Property Trust, Inc. 93,104 $2,008,253
Starwood Waypoint Residential Trust 30,288 $719,643
Sumitomo Mitsui Financial Group, Inc. 74,800 $3,324,239
Sumitomo Realty & Development Co, Ltd. 53,000 $1,858,026
Sunac China Holdings, Ltd. 2,815,000 $3,045,876
Sunac China Holdings, Ltd., 9.375%, 4/5/18 1,400,000 $1,453,880
Swire Pacific, Ltd. 59 $740
Swiss Life Holding AG 14,228 $3,262,069
TAG Immobilien AG 70,939 $829,687
Taisei Corp. 145,000 $832,376
Takara Leben Co, Ltd. 132,700 $789,882
Target Corp. 80,182 $6,545,257
Techtronic Industries Co, Ltd. 109,000 $358,908
Teleperformance 15,681 $1,110,083
Tencent Holdings, Ltd. 177,800 $3,540,104
Tenneco, Inc. 53,904 $3,096,246
Thales SA 26,555 $1,605,923
The Blackstone Group LP 93,138 $3,806,550
The British Land Co Plc 32,476 $405,879
The Home Depot, Inc. 14,897 $1,655,504
The Kroger Co. 61,065 $4,427,823
The Sherwin-Williams Co. 7,700 $2,117,654
The Toro Co. 69,968 $4,742,431
The Valspar Corp. 42,055 $3,440,940
The Walt Disney Co. 54,203 $6,186,730
Time Warner, Inc. 61,257 $5,354,474
Tokyo Tatemono Co, Ltd. 57,500 $796,595
Tosoh Corp. 192,000 $1,191,175
Trswap: Buyeu Index Eur Buy -4,442,864 $-86,029
Trswap: Buyjp Index Jpy Buy -624,998,396 $-63,368
Trswap: Hack (Purefunds Ise Cyber Usd Buy -4,955,797 $-55,487
Trswap: Hsaudi15 Index Usd Buy -9,288,656 $-602,670
UBS AG 191,568 $4,065,539
UBS Group AG 113,137 $2,398,477
UnitedHealth Group, Inc. 39,471 $4,815,462
United Overseas Bank, Ltd. 44,746 $765,307
Valero Energy Corp. 54,370 $3,403,562
VCA Antech, Inc. 68,561 $3,730,061
Vipshop Holdings, Ltd. (A.D.R.) 212,797 $4,734,733
Visa, Inc. 23,829 $1,600,117
Wasion Group Holdings, Ltd. 1,302,000 $2,021,106
Waskita Karya Persero Rts Rts 5,578,176 $17,154
Waskita Karya Persero Tbk PT 15,136,700 $1,723,108
Wells Fargo & Co. 56,948 $3,202,756
WHEELER REAL ESTATE INVESTMENT, 9.0%, 12/31/49 (Perpetual) 204 $199,920
Wheeler Real Estate Investment Trust, Inc. 74,022 $150,265
Wyndham Worldwide Corp. 44,593 $3,652,613
X5 Retail Group NV (G.D.R.) 68,149 $1,133,812
Xinjiang Goldwind Science & Technology Co, Ltd. 967,600 $1,964,363
Xinyi Solar Holdings, Ltd. 10,292,000 $4,236,725
Yes Bank, Ltd. 91,419 $1,211,488
Yuhan Corp. 11,511 $2,805,068
Yuzhou Properties Co, Ltd. 7,790,000 $2,008,426
Zee Entertainment Enterprises, Ltd. 369,045 $2,140,817
Zhejiang Expressway Co, Ltd. 1,842,000 $2,557,281
Zhuzhou CSR Times Electric Co, Ltd. 564,000 $4,194,497

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

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