Pioneer Series Trust Vii NPORT-P Pioneer Global Multisector Income Fund (Jan 2020 report)

Pioneer Global Multisector Income Fund
Schedule of Investments | January 31, 2020
Ticker Symbols:
Class A Class C Class Y	PGABX PGCBX PGYBX

Schedule of Investments | 1/31/20 (unaudited)

	Shares					Value
		UNAFFILIATED ISSUERS - 94.9%
		CONVERTIBLE PREFERRED STOCK - 0.8% of Net Assets
		Banks - 0.8%
	198(a)	Wells Fargo & Co., 7.5%				$306,021
		Total Banks				$306,021
		TOTAL CONVERTIBLE PREFERRED STOCK
		(Cost $275,401)				$306,021
	Principal Amount USD ($)					Value
		ASSET BACKED SECURITIES - 0.4% of Net Assets
	69,125	Hardee's Funding LLC, Series 2018-1A, Class A2II, 4.959%, 6/20/48 (144A)				$72,109
	100,000	Progress Residential Trust, Series 2017-SFR1, Class E, 4.261%, 8/17/34 (144A)				102,322
		TOTAL ASSET BACKED SECURITIES
		(Cost $169,124)				$174,431
		COLLATERALIZED MORTGAGE OBLIGATIONS - 6.6% of Net Assets
	235(b)	Alternative Loan Trust, Series 2003-14T1, Class A9, 2.111% (1 Month USD LIBOR + 45 bps), 8/25/18				$235
	80,000	BANK, Series 2017-BNK5, Class AS, 3.624%, 6/15/60				86,364
	50,000(c)	BANK, Series 2017-BNK8, Class B, 4.064%, 11/15/50				54,370
	47,517(d)(e)	Bayview Commercial Asset Trust, Series 2007-2A, Class IO, 7/25/37 (144A)				—
	150,000	Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615%, 2/15/51				165,446
	200,000	Benchmark Mortgage Trust, Series 2018-B6, Class A3, 3.995%, 10/10/51				227,038
	100,000	BX Trust, Series 2019-OC11, Class A, 3.202%, 12/9/41 (144A)				107,409
	2,084(c)	CHL Mortgage Pass-Through Trust, Series 2003-56, Class 4A2, 4.165%, 12/25/33				2,079
	100,000(c)	Citigroup Commercial Mortgage Trust, Series 2014-GC19, Class B, 4.805%, 3/10/47				109,410
	75,000(c)	Citigroup Commercial Mortgage Trust, Series 2014-GC25, Class B, 4.345%, 10/10/47				80,722
	100,000	Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A5, 3.137%, 2/10/48				105,531
	250,000	Citigroup Commercial Mortgage Trust, Series 2016-P5, Class D, 3.0%, 10/10/49 (144A)				234,390
	100,000(c)	COMM Mortgage Trust, Series 2015-CR23, Class CMD, 3.807%, 5/10/48 (144A)				100,037
	100,000(c)	COMM Mortgage Trust, Series 2015-CR25, Class B, 4.691%, 8/10/48				110,008
	237,206	COMM Mortgage Trust, Series 2016-CR28, Class AHR, 3.651%, 2/10/49				250,849
	50,000(c)	CSAIL Commercial Mortgage Trust, Series 2016-C5, Class C, 4.729%, 11/15/48				54,231
	3,456	Federal National Mortgage Association REMICS, Series 2009-36, Class HX, 4.5%, 6/25/29				3,623
	100,000	Fontainebleau Miami Beach Trust, Series 2019-FBLU, Class D, 4.095%, 12/10/36 (144A)				103,557
	45,000(c)	FREMF Mortgage Trust, Series 2010-K9, Class B, 5.375%, 9/25/45 (144A)				45,592
	50,000(c)	FREMF Mortgage Trust, Series 2015-K51, Class B, 4.089%, 10/25/48 (144A)				53,230
	18,491	Government National Mortgage Association, Series 2005-61, Class UZ, 5.25%, 8/16/35				19,417
	15,169	Government National Mortgage Association, Series 2009-83, Class EB, 4.5%, 9/20/39				16,776
	187,053	Government National Mortgage Association, Series 2018-20, Class A, 2.5%, 9/16/49				188,105
	100,000(b)	GS Mortgage Securities Corp. Trust , Series 2020-DUNE, Class E, 4.2% (1 Month USD LIBOR + 250 bps), 12/15/36 (144A)				100,000
	90,375(b)	IMT Trust, Series 2017-APTS, Class BFL, 2.626% (1 Month USD LIBOR + 95 bps), 6/15/34 (144A)				90,320
	33,364(b)	Interstar Millennium Trust, Series 2003-3G, Class A2, 2.447% (3 Month USD LIBOR + 50 bps), 9/27/35				32,505
	50,000(c)	Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class D, 4.376%, 4/15/48 (144A)				48,870
	105,000	Morgan Stanley Capital I Trust, Series 2016-UBS9, Class D, 3.0%, 3/15/49 (144A)				98,776
	68(b)	RALI Trust, Series 2002-QS16, Class A2, 2.211% (1 Month USD LIBOR + 55 bps), 10/25/17				68
	181,083(c)	Sequoia Mortgage Trust, Series 2013-4, Class A2, 2.5%, 4/25/43				179,952
		TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
		(Cost $2,557,492)				$2,668,910
		CORPORATE BONDS - 39.2% of Net Assets
		Aerospace/Defense - 0.1%
	40,000	United Technologies Corp., 4.125%, 11/16/28				$46,044
		Total Aerospace/Defense				$46,044
		Agriculture - 1.1%
EUR	160,000	Altria Group, Inc., 3.125%, 6/15/31				$201,322
EUR	100,000	BAT Capital Corp., 1.125%, 11/16/23				114,302
EUR	100,000	Imperial Brands Finance Plc, 2.25%, 2/26/21				112,896
		Total Agriculture				$428,520
		Auto Manufacturers - 0.5%
	110,000	Ford Motor Co., 4.346%, 12/8/26				$114,498
	Principal Amount USD ($)					Value
		Auto Manufacturers - (continued)
	90,000	General Motors Co., 6.6%, 4/1/36				$109,501
		Total Auto Manufacturers				$223,999
		Banks - 10.7%
	200,000	Access Bank Plc, 10.5%, 10/19/21 (144A)				$221,300
	60,000(a)(c)	Bank of America Corp., 4.3% (3 Month USD LIBOR + 266 bps)				60,000
EUR	200,000(c)	Barclays Plc, 2.625% (5 Year EUR Swap Rate + 245 bps), 11/11/25				225,455
EUR	150,000	BNP Paribas SA, 2.375%, 2/17/25				181,176
EUR	200,000	BPCE SA, 2.875%, 4/22/26				253,460
	85,000(a)(c)	Citigroup, Inc., 4.7% (SOFRRATE + 323 bps)				86,594
	75,000	Cooperatieve Rabobank UA, 3.875%, 2/8/22				78,251
	200,000(a)(c)	Credit Suisse Group AG, 5.1% (5 Year CMT Index + 329 bps) (144A)				202,000
	200,000(a)(c)	Credit Suisse Group AG, 7.125% (5 Year USD Swap Rate + 511 bps)				215,750
EUR	200,000(a)(c)	Erste Group Bank AG, 8.875% (5 Year EUR Swap Rate + 902 bps)				251,487
	150,000	Freedom Mortgage Corp., 8.125%, 11/15/24 (144A)				149,250
EUR	100,000	Goldman Sachs Group, Inc., 1.625%, 7/27/26				119,391
	105,000(c)	Goldman Sachs Group, Inc., 4.223% (3 Month USD LIBOR + 130 bps), 5/1/29				118,452
EUR	100,000	HSBC Holdings Plc, 0.875%, 9/6/24				114,319
EUR	200,000(c)	ING Groep NV, 3.0% (5 Year EUR Swap Rate + 285 bps), 4/11/28				239,399
EUR	200,000(a)(c)	Intesa Sanpaolo S.p.A., 7.75% (5 Year EUR Swap Rate + 719 bps)				275,512
	126,000(a)(c)	JPMorgan Chase & Co., 4.6% (SOFRRATE + 313 bps)				128,419
	128,000(a)(c)	JPMorgan Chase & Co., 5.0% (SOFRRATE + 338 bps)				133,888
EUR	200,000(a)(c)	Lloyds Banking Group Plc, 6.375% (5 Year EUR Swap Rate + 529 bps)				225,898
EUR	100,000(b)	Mediobanca Banca di Credito Finanziario S.p.A., 0.401% (3 Month EURIBOR + 80 bps), 5/18/22				111,413
EUR	100,000	Nykredit Realkredit AS, 0.75%, 7/14/21				112,095
	200,000	QNB Finansbank AS, 4.875%, 5/19/22 (144A)				204,488
	200,000(a)(c)	Societe Generale SA, 7.375% (5 Year USD Swap Rate + 624 bps) (144A)				212,960
EUR	200,000	UBS Group AG, 1.75%, 11/16/22				232,638
	200,000(a)(c)	UBS Group AG, 7.0% (5 Year USD Swap Rate + 434 bps) (144A)				220,222
		Total Banks				$4,373,817
		Beverages - 0.7%
	115,000	Anheuser-Busch InBev Worldwide, Inc., 5.55%, 1/23/49				$156,901
	100,000	Bacardi, Ltd., 5.3%, 5/15/48 (144A)				123,033
		Total Beverages				$279,934
		Biotechnology - 0.1%
	23,000	Biogen, Inc., 5.2%, 9/15/45				$28,578
		Total Biotechnology				$28,578
		Building Materials - 0.9%
EUR	100,000	Buzzi Unicem S.p.A., 2.125%, 4/28/23				$117,256
EUR	100,000	HeidelbergCement AG, 2.25%, 6/3/24				120,327
EUR	100,000	Holcim Finance Luxembourg SA, 2.25%, 5/26/28				125,195
		Total Building Materials				$362,778
		Chemicals - 0.4%
EUR	100,000	Arkema SA, 1.5%, 1/20/25				$118,790
	28,000	CF Industries, Inc., 5.375%, 3/15/44				31,494
	17,000	NOVA Chemicals Corp., 5.25%, 6/1/27 (144A)				17,298
		Total Chemicals				$167,582
		Commercial Services - 0.3%
EUR	100,000	Brisa Concessao Rodoviaria SA, 2.0%, 3/22/23				$117,137
		Total Commercial Services				$117,137
		Diversified Financial  Services - 0.3%
	125,000	Capital One Financial Corp., 4.25%, 4/30/25				$137,905
		Total Diversified Financial  Services				$137,905
		Electric - 2.2%
GBP	125,000	Cadent Finance Plc, 2.125%, 9/22/28				$172,490
EUR	100,000	Coentreprise de Transport d'Electricite SA, 0.875%, 9/29/24				115,203
	79,000(a)(c)	Dominion Energy, Inc., 4.65% (5 Year CMT Index + 299 bps)				81,952
EUR	100,000	EDP Finance BV, 1.875%, 9/29/23				118,387
GBP	75,000	innogy Finance BV, 5.625%, 12/6/23				115,852
	31,000	New York State Electric & Gas Corp., 3.3%, 9/15/49 (144A)				30,754
	85,000	NextEra Energy Capital Holdings, Inc., 3.55%, 5/1/27				92,036
	65,000	Sempra Energy, 3.4%, 2/1/28				68,955
	95,000	Vistra Operations Co. LLC, 3.7%, 1/30/27 (144A)				95,438
		Total Electric				$891,067
		Electrical Components & Equipment - 0.6%
EUR	100,000	Belden, Inc., 2.875%, 9/15/25 (144A)				$113,032
EUR	100,000	Legrand SA, 1.875%, 7/6/32				130,487
		Total Electrical Components & Equipment				$243,519
		Electronics - 0.6%
	41,000	Amphenol Corp., 3.2%, 4/1/24				$42,995
	63,000	Amphenol Corp., 4.35%, 6/1/29				71,723
	115,000	Flex, Ltd., 4.875%, 6/15/29				128,607
		Total Electronics				$243,325
		Engineering & Construction - 0.3%
EUR	100,000(a)(c)	Ferrovial Netherlands BV, 2.124% (5 Year EUR Swap Rate + 213 bps)				$110,127
		Total Engineering & Construction				$110,127
		Forest Products & Paper - 0.2%
	50,000	International Paper Co., 4.8%, 6/15/44				$56,769
	Principal Amount USD ($)					Value
		Forest Products & Paper - (continued)
	5,000	International Paper Co., 6.0%, 11/15/41				$6,475
	37,000	International Paper Co., 7.3%, 11/15/39				53,652
		Total Forest Products & Paper				$116,896
		Gas - 0.3%
	15,000	Boston Gas Co., 3.15%, 8/1/27 (144A)				$15,916
	75,540	Nakilat, Inc., 6.267%, 12/31/33 (144A)				90,270
		Total Gas				$106,186
		Healthcare-Products - 0.1%
	24,000	Abbott Laboratories, 3.75%, 11/30/26				$26,644
		Total Healthcare-Products				$26,644
		Healthcare-Services - 0.4%
	38,000	Anthem, Inc., 3.35%, 12/1/24				$40,147
	40,000	Anthem, Inc., 3.65%, 12/1/27				43,182
	6,000	Anthem, Inc., 4.101%, 3/1/28				6,633
	80,000	Humana, Inc., 3.95%, 3/15/27				87,538
		Total Healthcare-Services				$177,500
		Insurance - 3.8%
EUR	100,000(a)(c)	Allianz SE, 3.375% (10 Year EUAMDB + 320 bps)				$122,751
EUR	200,000	Assicurazioni Generali S.p.A., 4.125%, 5/4/26				259,159
EUR	100,000(c)	Aviva Plc, 6.125% (5 Year EUR Swap Rate + 513 bps), 7/5/43				130,373
EUR	100,000(a)(c)	AXA SA, 3.875% (11 Year EUR Swap Rate + 325 bps)				125,834
	60,000	AXA SA, 8.6%, 12/15/30				88,942
	25,000	CNO Financial Group, Inc., 5.25%, 5/30/29				28,188
EUR	100,000(c)	CNP Assurances, 6.0% (3 Month EURIBOR + 447 bps), 9/14/40				114,629
	20,000(c)	Farmers Exchange Capital III, 5.454% (3 Month USD LIBOR + 345 bps), 10/15/54 (144A)				23,648
	100,000(c)	Farmers Insurance Exchange, 4.747% (3 Month USD LIBOR + 323 bps), 11/1/57 (144A)				105,661
	100,000	Liberty Mutual Insurance Co., 7.697%, 10/15/97 (144A)				152,408
EUR	100,000(c)	Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, 6.25% (3 Month EURIBOR + 495 bps), 5/26/42				126,463
EUR	100,000(a)(c)	NN Group NV, 4.375% (3 Month EURIBOR + 390 bps)				123,612
	100,000	Teachers Insurance & Annuity Association of America, 4.9%, 9/15/44 (144A)				128,033
	13,000	Willis North America, Inc., 2.95%, 9/15/29				13,269
		Total Insurance				$1,542,970
		Internet - 0.7%
	125,000	Booking Holdings, Inc., 3.55%, 3/15/28				$136,397
	68,000	Expedia Group, Inc., 3.25%, 2/15/30 (144A)				66,842
	50,000	Expedia Group, Inc., 3.8%, 2/15/28				51,861
		Total Internet				$255,100
		Iron & Steel - 0.0%†
	12,000	Steel Dynamics, Inc., 3.45%, 4/15/30				$12,370
		Total Iron & Steel				$12,370
		Lodging - 0.3%
EUR	100,000	Accor SA, 1.25%, 1/25/24				$115,597
		Total Lodging				$115,597
		Media - 1.3%
	60,000	Comcast Corp., 4.15%, 10/15/28				$68,829
	200,000	CSC Holdings LLC, 5.375%, 2/1/28 (144A)				212,000
	100,000	Diamond Sports Group LLC/Diamond Sports Finance Co., 6.625%, 8/15/27 (144A)				93,500
EUR	150,000	Sky, Ltd., 1.5%, 9/15/21				170,807
		Total Media				$545,136
		Mining - 0.4%
EUR	100,000	Anglo American Capital Plc, 3.25%, 4/3/23				$121,557
	32,000	Freeport-McMoRan, Inc., 5.45%, 3/15/43				32,640
		Total Mining				$154,197
		Multi-National - 1.2%
	200,000	African Export-Import Bank, 3.994%, 9/21/29 (144A)				$208,594
	200,000	Banque Ouest Africaine de Developpment, 4.7%, 10/22/31 (144A)				209,524
IDR	1,160,000,000	Inter-American Development Bank, 7.875%, 3/14/23				90,167
		Total Multi-National				$508,285
		Oil & Gas - 1.7%
	40,000	Apache Corp., 4.25%, 1/15/30				$42,073
	65,000	Apache Corp., 4.375%, 10/15/28				68,901
	45,000	Cenovus Energy, Inc., 6.75%, 11/15/39				56,641
	25,000	EQT Corp., 6.125%, 2/1/25				22,699
	80,000	Marathon Petroleum Corp., 5.375%, 10/1/22				80,810
	22,000	Noble Energy, Inc., 5.25%, 11/15/43				24,438
	39,000	Petroleos Mexicanos, 5.35%, 2/12/28				39,353
EUR	200,000(c)	Repsol International Finance BV, 4.5% (EUR Swap Rate + 420 bps), 3/25/75				253,039
	29,000	Valero Energy Corp., 6.625%, 6/15/37				39,144
ARS	2,154,200	YPF SA, 16.5%, 5/9/22 (144A)				18,946
		Total Oil & Gas				$646,044
		Pharmaceuticals - 1.1%
	62,000	AbbVie, Inc., 4.05%, 11/21/39 (144A)				$67,461
EUR	100,000	Bausch Health Cos., Inc., 4.5%, 5/15/23				111,518
	15,000	Bausch Health Cos., Inc., 5.0%, 1/30/28 (144A)				15,187
	10,000	Bausch Health Cos., Inc., 5.25%, 1/30/30 (144A)				10,188
	45,000	Cigna Corp., 4.375%, 10/15/28				50,736
	Principal Amount USD ($)					Value
		Pharmaceuticals - (continued)
	10,988	CVS Pass-Through Trust, 5.773%, 1/10/33 (144A)				$12,810
	200,000	Perrigo Finance Unlimited Co., 3.9%, 12/15/24				210,822
		Total Pharmaceuticals				$478,722
		Pipelines - 3.2%
	19,000	Cameron LNG LLC, 3.302%, 1/15/35 (144A)				$20,043
	51,000	Cameron LNG LLC, 3.402%, 1/15/38 (144A)				53,635
	40,000	Cheniere Energy Partners LP, 5.25%, 10/1/25				41,200
	100,000	Enable Midstream Partners LP, 4.4%, 3/15/27				100,764
	75,000	Enable Midstream Partners LP, 4.95%, 5/15/28				77,355
	100,000	Energy Transfer Operating LP, 5.875%, 1/15/24				111,580
	50,000	Energy Transfer Operating LP, 6.0%, 6/15/48				57,604
	10,000	Energy Transfer Operating LP, 6.125%, 12/15/45				11,560
	110,000(a)(c)	Energy Transfer Operating LP, 7.125% (5 Year CMT Index + 531 bps)				112,475
	155,000	EnLink Midstream Partners LP, 5.45%, 6/1/47				122,450
	39,000	EnLink Midstream Partners LP, 5.6%, 4/1/44				30,615
	125,000	MPLX LP, 4.875%, 12/1/24				137,564
	125,000	Phillips 66 Partners LP, 3.75%, 3/1/28				132,922
	60,000	Sabine Pass Liquefaction LLC, 5.0%, 3/15/27				66,910
	60,000	Sunoco Logistics Partners Operations LP, 6.1%, 2/15/42				68,974
	90,000	Texas Eastern Transmission LP, 3.5%, 1/15/28 (144A)				94,146
	57,000	Williams Cos., Inc., 5.75%, 6/24/44				67,803
	13,000	Williams Cos., Inc., 7.75%, 6/15/31				17,184
		Total Pipelines				$1,324,784
		Real Estate - 0.9%
EUR	100,000	Akelius Residential Property AB, 1.125%, 3/14/24				$114,533
EUR	100,000	Annington Funding Plc, 1.65%, 7/12/24				116,391
EUR	100,000(a)(c)	ATF Netherlands BV, 3.75% (5 Year EUR Swap Rate + 438 bps)				118,065
		Total Real Estate				$348,989
		REITs - 1.9%
	23,000	Alexandria Real Estate Equities, Inc., 4.3%, 1/15/26				$25,617
EUR	200,000	GELF Bond Issuer I SA, 0.875%, 10/20/22				225,956
	30,000	GLP Capital LP/GLP Financing II, Inc., 4.0%, 1/15/30				31,662
	60,000	Healthcare Trust of America Holdings LP, 3.75%, 7/1/27				64,893
	35,000	Highwoods Realty LP, 3.625%, 1/15/23				36,386
	140,000	iStar, Inc., 4.25%, 8/1/25				140,700
EUR	100,000	Merlin Properties Socimi SA, 2.225%, 4/25/23				117,666
	43,000	MPT Operating Partnership LP/MPT Finance Corp., 4.625%, 8/1/29				44,935
	50,000	SBA Tower Trust, 2.877%, 7/9/21 (144A)				50,319
	27,000	UDR, Inc., 4.0%, 10/1/25				29,628
		Total REITs				$767,762
		Savings & Loans - 0.3%
EUR	100,000	Leeds Building Society, 1.375%, 5/5/22				$114,274
		Total Savings & Loans				$114,274
		Software - 0.3%
EUR	100,000	IQVIA, Inc., 2.875%, 9/15/25 (144A)				$112,954
		Total Software				$112,954
		Sovereign - 0.3%
	200,000(f)	Ecuador Social Bond S.a.r.l, 1/30/35 (144A)				$130,000
		Total Sovereign				$130,000
		Telecommunications - 1.7%
	200,000	Digicel, Ltd., 6.0%, 4/15/21 (144A)				$158,500
	40,000	Frontier Communications Corp., 7.125%, 1/15/23				18,800
GBP	100,000	Koninklijke KPN NV, 5.0%, 11/18/26				154,960
EUR	125,000(a)(c)	Orange SA, 5.0% (5 Year EUR Swap Rate + 399 bps)				168,647
	36,000	Sprint Corp., 7.25%, 9/15/21				37,755
EUR	100,000	Telekom Finanzmanagement GmbH, 3.5%, 7/4/23				124,067
		Total Telecommunications				$662,729
		Transportation - 0.0%†
	15,000	Union Pacific Corp., 3.75%, 2/5/70				$15,306
		Total Transportation				$15,306
		Water - 0.3%
EUR	100,000	FCC Aqualia SA, 1.413%, 6/8/22				$113,639
		Total Water				$113,639
		TOTAL CORPORATE BONDS
		(Cost $15,522,489)				$15,930,416
		FOREIGN GOVERNMENT BONDS - 23.6% of Net Assets
		Angola - 0.5%
	200,000	Angolan Government International Bond, 8.25%, 5/9/28 (144A)				$215,398
		Total Angola				$215,398
		Argentina - 1.0%
	100,000	Argentine Republic Government International Bond, 6.875%, 1/26/27				$45,050
	300,000	Argentine Republic Government International Bond, 7.5%, 4/22/26				136,650
	250,000	Ciudad Autonoma De Buenos Aires, 7.5%, 6/1/27 (144A)				223,125
		Total Argentina				$404,825
		Austria - 0.2%
EUR	50,000	Republic of Austria Government Bond, 4.15%, 3/15/37 (144A)				$93,860
		Total Austria				$93,860
	Principal Amount USD ($)					Value
		Bahrain - 0.6%
	200,000	Bahrain Government International Bond, 7.0%, 10/12/28 (144A)				$235,758
		Total Bahrain				$235,758
		Dominican Republic - 0.4%
DOP	8,000,000	Dominican Republic International Bond, 8.9%, 2/15/23 (144A)				$149,976
		Total Dominican Republic				$149,976
		Egypt - 2.0%
EGP	1,754,000	Egypt Government Bond, 15.7%, 11/7/27				$120,592
EGP	1,130,000	Egypt Government Bond, 16.1%, 5/7/29				79,788
	269,000	Egypt Government International Bond, 7.6%, 3/1/29 (144A)				301,092
EGP	3,875,000(f)	Egypt Treasury Bills, 2/4/20				244,914
EGP	1,050,000(f)	Egypt Treasury Bills, 3/3/20				65,780
		Total Egypt				$812,166
		Gabon - 0.5%
	200,000	Gabon Government International Bond, 6.625%, 2/12/31 (144A)				$201,241
		Total Gabon				$201,241
		Indonesia - 0.7%
IDR	3,744,000,000	Indonesia Treasury Bond, 6.125%, 5/15/28				$264,041
		Total Indonesia				$264,041
		Ivory Coast - 0.3%
EUR	110,000	Ivory Coast Government International Bond, 5.875%, 10/17/31 (144A)				$129,089
		Total Ivory Coast				$129,089
		Japan - 4.6%
JPY	75,000,000	Japan Government Thirty Year Bond, 0.8%, 12/20/47				$774,729
JPY	110,000,000	Japan Government Twenty Year Bond, 0.6%, 12/20/37				1,088,519
		Total Japan				$1,863,248
		Kenya - 0.5%
	200,000	Kenya Government International Bond, 7.25%, 2/28/28 (144A)				$215,894
		Total Kenya				$215,894
		Mexico - 1.7%
MXN	300,000	Mexican Bonos, 7.5%, 6/3/27				$16,705
MXN	8,955,000	Mexican Bonos, 8.0%, 12/7/23				496,629
MXN	3,700,521	Mexican Udibonos, 2.0%, 6/9/22				189,747
		Total Mexico				$703,081
		Oman - 0.5%
	200,000	Oman Government International Bond, 5.625%, 1/17/28 (144A)				$206,899
		Total Oman				$206,899
		Portugal - 0.3%
EUR	100,000	Portugal Obrigacoes do Tesouro OT, 4.95%, 10/25/23 (144A)				$132,686
		Total Portugal				$132,686
		Russia - 0.8%
RUB	17,256,000	Russian Federal Bond - OFZ, 8.15%, 2/3/27				$303,054
		Total Russia				$303,054
		Senegal - 0.5%
	200,000	Senegal Government International Bond, 6.25%, 5/23/33 (144A)				$213,274
		Total Senegal				$213,274
		Sri Lanka - 0.6%
	220,000	Sri Lanka Government International Bond, 7.55%, 3/28/30 (144A)				$217,979
		Total Sri Lanka				$217,979
		Sweden - 0.7%
SEK	2,300,000	Sweden Government Bond, 2.5%, 5/12/25				$274,385
		Total Sweden				$274,385
		Turkey - 1.1%
	250,000	Turkey Government International Bond, 3.25%, 3/23/23				$247,426
	200,000	Turkey Government International Bond, 5.6%, 11/14/24				210,560
		Total Turkey				$457,986
		Ukraine - 0.9%
EUR	115,000	Ukraine Government International Bond, 4.375%, 1/27/30 (144A)				$126,465
	200,000	Ukraine Government International Bond, 8.994%, 2/1/24 (144A)				229,250
		Total Ukraine				$355,715
		United Kingdom - 4.6%
GBP	475,000	United Kingdom Gilt, 0.5%, 7/22/22				$628,155
GBP	450,000	United Kingdom Gilt, 3.5%, 1/22/45				917,314
GBP	150,000	United Kingdom Gilt, 4.25%, 9/7/39				315,368
		Total United Kingdom				$1,860,837
		Uruguay - 0.6%
UYU	9,771,000	Uruguay Government International Bond, 9.875%, 6/20/22 (144A)				$258,323
		Total Uruguay				$258,323
		TOTAL FOREIGN GOVERNMENT BONDS
		(Cost $9,256,826)				$9,569,715
	Face Amount USD ($)					Value
		INSURANCE-LINKED SECURITIES - 0.1% of Net Assets(g)
		Reinsurance Sidecars - 0.1%
		Multiperil - Worldwide - 0.1%
	30,000+(h)(i)	Lorenz Re 2018, 7/1/21				$3,045
	Face Amount USD ($)					Value
		Multiperil - Worldwide - (continued)
	30,000+(j)	Pangaea Re 2015-2, 5/29/20				$45
	30,000+(j)	Pangaea Re 2016-1, 11/30/20				67
	50,000+(i)(j)	Pangaea Re 2017-1, 11/30/21				805
	50,000+(i)(j)	Pangaea Re 2018-1, 12/31/21				2,940
	40,962+(i)(j)	Pangaea Re 2019-1, 2/1/23				853
	40,532+(i)(j)	Pangaea Re 2020-1, 2/1/24				40,815
		Total Reinsurance Sidecars				$48,570
		TOTAL INSURANCE-LINKED SECURITIES
		(Cost $70,747)				$48,570
	Principal Amount USD ($)					Value
		MUNICIPAL BONDS - 0.1% of Net Assets(k)
		Municipal General - 0.1%
	30,000	Virginia Commonwealth Transportation Board, Transportation Capital Projects, 4.0%, 5/15/32				$33,066
		Total Municipal General				$33,066
		Municipal Higher Education - 0.0%†
	15,000	Massachusetts Development Finance Agency, Harvard University, Series A, 5.0%, 7/15/40				$22,345
		Total Municipal Higher Education				$22,345
		TOTAL MUNICIPAL BONDS
		(Cost $50,680)				$55,411
		SENIOR SECURED FLOATING RATE LOAN INTERESTS - 5.4% of Net Assets*(b)
		Automobile - 0.4%
	74,298	American Axle & Manufacturing, Inc., Tranche B Term Loan, 3.92% (LIBOR + 225 bps), 4/6/24				$74,396
	66,830	CWGS Group LLC, Term Loan, 4.484% (LIBOR + 275 bps), 11/8/23				63,739
		Total Automobile				$138,135
		Broadcasting & Entertainment - 0.2%
	98,228	Sinclair Television Group, Inc., Tranche B Term Loan, 3.9% (LIBOR + 225 bps), 1/3/24				$98,677
		Total Broadcasting & Entertainment				$98,677
		Chemicals, Plastics & Rubber - 0.3%
	85,904	Axalta Coating Systems Dutch Holding B BV (Axalta Coating Systems US Holdings, Inc.), Term B-3 Dollar Loan, 3.695% (LIBOR + 175 bps), 6/1/24				$86,003
	37,391	PQ Corp., Third Amendment Tranche B-1 Term Loan, 4.277% (LIBOR + 250 bps), 2/8/25				37,551
		Total Chemicals, Plastics & Rubber				$123,554
		Computers & Electronics - 0.4%
	25,693	Energy Acquisition LP, (aka Electrical Components International), First Lien Initial Term Loan, 6.195% (LIBOR + 425 bps), 6/26/25				$24,119
	122,813	Iron Mountain Information Management LLC, Incremental Term B Loan, 3.395% (LIBOR + 175 bps), 1/2/26				122,710
	57,489	Microchip Technology, Inc., Initial Term Loan, 3.65% (LIBOR + 200 bps), 5/29/25				57,791
		Total Computers & Electronics				$204,620
		Diversified & Conglomerate Service - 0.6%
	59,708	ASGN, Inc. (fka On Assignment, Inc.), Initial Term B-3 Loan, 3.395% (LIBOR + 175 bps), 4/2/25				$60,205
	18,717	Change Healthcare Holdings, Inc. (fka Emdeon, Inc.), Closing Date Term Loan, 4.145% (LIBOR + 250 bps), 3/1/24				18,756
	49,145	DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings LLC), First Lien Initial Term Loan, 4.645% (LIBOR + 300 bps), 2/3/25				48,869
	49,128	NVA Holdings, Inc., First Lien Term B-3 Loan, 6.5% (PRIME + 175 bps), 2/2/25				49,178
	73,875	West Corp., Incremental Term B-1 Loan, 5.145% (LIBOR + 350 bps), 10/10/24				62,886
		Total Diversified & Conglomerate Service				$239,894
		Electric & Electrical - 0.0%†
	7,858	Rackspace Hosting, Inc., First Lien Term B Loan, 4.902% (LIBOR + 300 bps), 11/3/23				$7,583
		Total Electric & Electrical				$7,583
		Electronics - 0.1%
	49,125	Scientific Games International, Inc., Initial Term B-5 Loan, 4.395% (LIBOR + 275 bps), 8/14/24				$49,176
		Total Electronics				$49,176
		Environmental Services - 0.2%
	98,527	GFL Environmental, Inc., Effective Date Incremental Term Loan, 4.645% (LIBOR + 300 bps), 5/30/25				$98,564
		Total Environmental Services				$98,564
		Financial Services - 0.1%
	45,985	RPI Finance Trust, Initial Term Loan B-6, 3.645% (LIBOR + 200 bps), 3/27/23				$46,129
		Total Financial Services				$46,129
		Healthcare & Pharmaceuticals - 0.2%
	97,500	Endo Luxembourg Finance Co. I S.a.r.l., Initial Term Loan, 5.938% (LIBOR + 425 bps), 4/29/24				$94,502
		Total Healthcare & Pharmaceuticals				$94,502
		Healthcare, Education & Childcare - 0.6%
	49,109	ATI Holdings Acquisition, Inc., First Lien Initial Term Loan, 5.145% (LIBOR + 350 bps), 5/10/23				$48,756
	36,085	Gentiva Health Services, Inc., First Lien Term B Loan, 4.938% (LIBOR + 325 bps), 7/2/25				36,266
	48,509	KUEHG Corp. (fka KC MergerSub, Inc.) (aka KinderCare), Term B-3 Loan, 5.695% (LIBOR + 375 bps), 2/21/25				48,798
	97,995	Life Time Fitness, Inc., 2017 Refinancing Term Loan, 4.659% (LIBOR + 275 bps), 6/10/22				98,311
		Total Healthcare, Education & Childcare				$232,131
	Principal Amount USD ($)					Value
		Hotel, Gaming & Leisure - 0.1%
	41,416	1011778 BC Unlimited Liability Co. (New Red Finance, Inc.) (aka Burger King/Tim Hortons), Term B-4 Loan, 3.395% (LIBOR + 175 bps), 11/19/26				$41,475
		Total Hotel, Gaming & Leisure				$41,475
		Insurance - 0.3%
	45,540	Asurion LLC (fka Asurion Corp.), New B-7 Term Loan, 4.645% (LIBOR + 300 bps), 11/3/24				$45,676
	33,653	Integro Parent, Inc., First Lien Initial Term Loan, 7.4% (LIBOR + 575 bps), 10/31/22				33,316
	49,121	USI, Inc. (fka Compass Investors, Inc.), 2017 New Term Loan, 4.945% (LIBOR + 300 bps), 5/16/24				49,006
		Total Insurance				$127,998
		Leasing - 0.4%
	94,711	Avolon TLB Borrower 1 (US) LLC, Term B-3 Loan, 3.408% (LIBOR + 175 bps), 1/15/25				$95,273
	73,688	IBC Capital I, Ltd. (aka Goodpack, Ltd.), First Lien Tranche B-1 Term Loan, 5.649% (LIBOR + 375 bps), 9/11/23				73,780
		Total Leasing				$169,053
		Manufacturing - 0.2%
	61,194	Aristocrat Leisure, Ltd., Term B-3 Loan, 3.577% (LIBOR + 175 bps), 10/19/24				$61,438
		Total Manufacturing				$61,438
		Media - 0.2%
	31,455	CSC Holdings LLC (fka CSC Holdings, Inc. (Cablevision)), October 2018 Incremental Term Loan, 3.926% (LIBOR + 225 bps), 1/15/26				$31,636
	49,375	CSC Holdings LLC (fka CSC Holdings, Inc. (Cablevision)), September 2019 Initial Term Loan, 4.176% (LIBOR + 250 bps), 4/15/27				49,684
		Total Media				$81,320
		Metals & Mining - 0.2%
	46,310	Atkore International, Inc., First Lien Initial Incremental Term Loan, 4.7% (LIBOR + 275 bps), 12/22/23				$46,577
	29,560	Zekelman Industries, Inc. (fka JMC Steel Group, Inc.), Term Loan, 3.909% (LIBOR + 225 bps), 1/24/27				29,621
		Total Metals & Mining				$76,198
		Professional & Business Services - 0.3%
	98,250	Lamar Media Corp., Term B Loan, 5.5% (PRIME + 75 bps), 3/14/25				$98,414
		Total Professional & Business Services				$98,414
		Securities & Trusts - 0.2%
	63,619	Stonepeak Lonestar Holdings LLC, Initial Term Loan, 6.336% (LIBOR + 450 bps), 10/19/26				$62,823
		Total Securities & Trusts				$62,823
		Telecommunications - 0.3%
	18,342	Go Daddy Operating Co. LLC (GD Finance Co., Inc.), Tranche B-2 Term Loan, 3.395% (LIBOR + 175 bps), 2/15/24				$18,398
	97,741	Sprint Communications, Inc., Initial Term Loan, 4.188% (LIBOR + 250 bps), 2/2/24				96,550
		Total Telecommunications				$114,948
		Utilities - 0.1%
	28,449	Vistra Operations Co. LLC (fka Tex Operations Co. LLC), 2018 Incremental Term Loan, 3.4% (LIBOR + 175 bps), 12/31/25				$28,653
		Total Utilities				$28,653
		TOTAL SENIOR SECURED FLOATING RATE LOAN INTERESTS
		(Cost $2,207,367)				$2,195,285
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 18.7% of Net Assets
	17,433	Fannie Mae, 3.0%, 5/1/31				$18,167
	34,233	Fannie Mae, 3.0%, 2/1/43				35,658
	23,125	Fannie Mae, 3.0%, 3/1/43				24,088
	22,361	Fannie Mae, 3.0%, 5/1/43				23,338
	25,369	Fannie Mae, 3.0%, 5/1/43				26,248
	25,594	Fannie Mae, 3.0%, 6/1/45				26,713
	19,255	Fannie Mae, 3.0%, 9/1/46				19,884
	38,262	Fannie Mae, 3.0%, 10/1/46				39,511
	54,072	Fannie Mae, 3.0%, 11/1/46				55,837
	37,423	Fannie Mae, 3.0%, 1/1/47				39,165
	30,411	Fannie Mae, 3.0%, 3/1/47				31,403
	38,067	Fannie Mae, 3.5%, 6/1/42				40,597
	98,514	Fannie Mae, 3.5%, 9/1/42				104,221
	91,619	Fannie Mae, 3.5%, 5/1/44				96,515
	25,887	Fannie Mae, 3.5%, 2/1/45				27,687
	69,230	Fannie Mae, 3.5%, 2/1/45				74,412
	16,632	Fannie Mae, 3.5%, 6/1/45				17,510
	12,733	Fannie Mae, 3.5%, 8/1/45				13,341
	32,518	Fannie Mae, 3.5%, 8/1/45				34,070
	17,136	Fannie Mae, 3.5%, 9/1/45				18,419
	51,634	Fannie Mae, 3.5%, 9/1/45				54,004
	75,953	Fannie Mae, 3.5%, 10/1/45				80,094
	15,903	Fannie Mae, 3.5%, 1/1/46				16,658
	17,297	Fannie Mae, 3.5%, 7/1/46				18,054
	28,959	Fannie Mae, 3.5%, 9/1/46				30,243
	56,409	Fannie Mae, 3.5%, 12/1/46				58,788
	28,999	Fannie Mae, 3.5%, 1/1/47				30,582
	36,334	Fannie Mae, 3.5%, 1/1/47				38,743
	Principal Amount USD ($)					Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS - (continued)
	37,437	Fannie Mae, 3.5%, 1/1/47				$39,014
	29,218	Fannie Mae, 4.0%, 10/1/40				31,920
	59,190	Fannie Mae, 4.0%, 1/1/42				63,669
	11,949	Fannie Mae, 4.0%, 2/1/42				12,851
	20,898	Fannie Mae, 4.0%, 5/1/42				22,444
	33,020	Fannie Mae, 4.0%, 11/1/43				35,809
	11,605	Fannie Mae, 4.0%, 10/1/44				12,220
	60,738	Fannie Mae, 4.0%, 11/1/44				64,790
	45,871	Fannie Mae, 4.0%, 10/1/45				48,531
	37,710	Fannie Mae, 4.0%, 12/1/45				40,225
	27,547	Fannie Mae, 4.0%, 6/1/46				29,285
	26,191	Fannie Mae, 4.0%, 8/1/46				27,769
	15,039	Fannie Mae, 4.0%, 11/1/46				15,887
	19,665	Fannie Mae, 4.0%, 11/1/46				20,793
	113,478	Fannie Mae, 4.0%, 1/1/47				119,780
	18,828	Fannie Mae, 4.0%, 4/1/47				20,166
	28,675	Fannie Mae, 4.0%, 4/1/47				30,298
	30,280	Fannie Mae, 4.0%, 4/1/47				32,348
	19,322	Fannie Mae, 4.0%, 6/1/47				20,418
	55,813	Fannie Mae, 4.0%, 6/1/47				58,940
	15,540	Fannie Mae, 4.0%, 7/1/47				16,407
	26,734	Fannie Mae, 4.0%, 8/1/47				28,030
	35,535	Fannie Mae, 4.0%, 12/1/47				37,451
	109,844	Fannie Mae, 4.0%, 4/1/48				115,093
	7,625	Fannie Mae, 4.0%, 9/1/49				7,964
	54,433	Fannie Mae, 4.0%, 10/1/49				56,945
	10,235	Fannie Mae, 4.5%, 4/1/41				11,186
	7,786	Fannie Mae, 4.5%, 5/1/41				8,609
	20,805	Fannie Mae, 4.5%, 11/1/43				22,497
	25,398	Fannie Mae, 4.5%, 2/1/44				27,444
	30,232	Fannie Mae, 4.5%, 2/1/44				32,710
	22,670	Fannie Mae, 4.5%, 5/1/46				24,294
	23,752	Fannie Mae, 4.5%, 2/1/47				25,235
	24,118	Fannie Mae, 5.0%, 8/1/31				26,037
	10,884	Fannie Mae, 5.0%, 6/1/40				12,054
	7,046	Fannie Mae, 5.5%, 10/1/35				7,901
	10,671	Federal Home Loan Mortgage Corp., 3.0%, 9/1/42				11,143
	12,683	Federal Home Loan Mortgage Corp., 3.0%, 1/1/43				13,244
	25,435	Federal Home Loan Mortgage Corp., 3.0%, 2/1/43				26,563
	28,474	Federal Home Loan Mortgage Corp., 3.0%, 4/1/43				29,657
	47,763	Federal Home Loan Mortgage Corp., 3.0%, 4/1/43				49,881
	13,340	Federal Home Loan Mortgage Corp., 3.0%, 5/1/43				13,894
	18,949	Federal Home Loan Mortgage Corp., 3.0%, 9/1/46				19,578
	19,592	Federal Home Loan Mortgage Corp., 3.0%, 12/1/46				20,242
	57,960	Federal Home Loan Mortgage Corp., 3.0%, 2/1/47				59,883
	13,174	Federal Home Loan Mortgage Corp., 3.5%, 10/1/42				14,057
	69,121	Federal Home Loan Mortgage Corp., 3.5%, 6/1/45				73,747
	86,550	Federal Home Loan Mortgage Corp., 3.5%, 11/1/45				91,315
	14,110	Federal Home Loan Mortgage Corp., 3.5%, 3/1/46				14,765
	62,503	Federal Home Loan Mortgage Corp., 3.5%, 7/1/46				67,111
	26,086	Federal Home Loan Mortgage Corp., 3.5%, 8/1/46				27,609
	70,422	Federal Home Loan Mortgage Corp., 3.5%, 8/1/46				74,486
	86,270	Federal Home Loan Mortgage Corp., 3.5%, 8/1/46				92,043
	54,810	Federal Home Loan Mortgage Corp., 3.5%, 12/1/46				58,478
	80,065	Federal Home Loan Mortgage Corp., 4.0%, 1/1/44				85,684
	131,074	Federal Home Loan Mortgage Corp., 4.0%, 5/1/44				139,894
	10,306	Federal Home Loan Mortgage Corp., 4.0%, 12/1/44				11,000
	16,475	Federal Home Loan Mortgage Corp., 4.0%, 1/1/46				17,572
	24,869	Federal Home Loan Mortgage Corp., 4.0%, 2/1/46				26,496
	16,260	Federal Home Loan Mortgage Corp., 4.0%, 4/1/47				17,272
	18,183	Federal Home Loan Mortgage Corp., 4.0%, 4/1/47				19,487
	32,723	Federal Home Loan Mortgage Corp., 4.0%, 4/1/47				34,616
	37,465	Federal Home Loan Mortgage Corp., 4.0%, 4/1/47				40,146
	72,475	Federal Home Loan Mortgage Corp., 4.0%, 4/1/47				76,352
	82,374	Federal Home Loan Mortgage Corp., 4.0%, 5/1/47				86,504
	156,001	Federal Home Loan Mortgage Corp., 4.0%, 10/1/47				164,845
	112,943	Federal Home Loan Mortgage Corp., 4.0%, 12/1/47				119,240
	101,992	Federal Home Loan Mortgage Corp., 4.0%, 7/1/49				106,835
	36,283	Federal Home Loan Mortgage Corp., 4.0%, 9/1/49				38,098
	32,745	Federal Home Loan Mortgage Corp., 4.5%, 6/1/41				35,811
	48,034	Federal Home Loan Mortgage Corp., 4.5%, 5/1/47				51,162
	16,017	Federal Home Loan Mortgage Corp., 4.5%, 7/1/49				16,998
	15,497	Federal Home Loan Mortgage Corp., 5.0%, 9/1/38				17,195
	18,072	Federal Home Loan Mortgage Corp., 5.0%, 10/1/38				20,053
	2,693	Federal Home Loan Mortgage Corp., 5.0%, 5/1/39				2,983
	5,734	Federal Home Loan Mortgage Corp., 5.0%, 12/1/39				6,368
	9,967	Federal Home Loan Mortgage Corp., 6.0%, 8/1/37				11,087
	14,113	Federal Home Loan Mortgage Corp., 6.5%, 1/1/38				16,856
	Principal Amount USD ($)					Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS - (continued)
	23,204	Federal Home Loan Mortgage Corp., 6.5%, 4/1/38				$26,316
	39,957	Government National Mortgage Association I, 3.5%, 11/15/41				42,087
	7,707	Government National Mortgage Association I, 3.5%, 10/15/42				8,116
	24,900	Government National Mortgage Association I, 3.5%, 8/15/46				25,905
	27,431	Government National Mortgage Association I, 4.0%, 4/15/45				29,636
	38,065	Government National Mortgage Association I, 4.0%, 6/15/45				41,131
	21,711	Government National Mortgage Association I, 4.5%, 1/15/40				23,887
	17,617	Government National Mortgage Association I, 4.5%, 9/15/40				19,302
	6,884	Government National Mortgage Association I, 4.5%, 10/15/40				7,527
	15,487	Government National Mortgage Association I, 4.5%, 7/15/41				16,935
	25,864	Government National Mortgage Association II, 3.0%, 9/20/46				26,845
	23,092	Government National Mortgage Association II, 4.5%, 9/20/41				25,067
	47,616	Government National Mortgage Association II, 4.5%, 9/20/44				50,455
	14,417	Government National Mortgage Association II, 4.5%, 10/20/44				15,575
	30,567	Government National Mortgage Association II, 4.5%, 11/20/44				33,022
	94,491	Government National Mortgage Association II, 4.5%, 4/20/48				100,054
	500,000(f)	U.S. Treasury Bills, 2/25/20				499,557
	500,000(f)	U.S. Treasury Bills, 3/10/20				499,243
	207,000	U.S. Treasury Bonds, 3.0%, 2/15/49				252,087
	394,242	U.S. Treasury Inflation Indexed Bonds, 0.875%, 2/15/47				454,662
	244,242	U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/46				287,891
	432,857	U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/48				516,170
	236,117	U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/49				283,732
	107,000	U.S. Treasury Note, 2.625%, 2/15/29				117,144
		TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS
		(Cost $7,208,970)				$7,623,560
		TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS - 94.9%
		(Cost $37,319,096)				$38,572,319
	Shares		Dividend Income	Net Realized Gain (Loss)	Change in Net Unrealized Appreciation (Depreciation)	Value
		AFFILIATED ISSUER - 2.4%
		CLOSED-END FUND -  2.4% of Net Assets
	114,057(l)	Pioneer ILS Interval Fund	$    62,925	$        –	$(53,607)	$951,239
		TOTAL CLOSED-END FUND
		(Cost $1,108,478)				$951,239
		TOTAL INVESTMENTS IN AFFILIATED ISSUER - 2.4%
		(Cost $1,108,478)				$951,239
		OTHER ASSETS AND LIABILITIES - 2.7%				$1,115,807
		NET ASSETS - 100.0%				$40,639,365

bps	Basis Points.
CMT	Constant Maturity Treasury Index.
EUAMDB	Euribor ICE Swap Rate.
EURIBOR	Euro Interbank Offered Rate.
FREMF	Freddie Mac Multifamily Fixed-Rate Mortgage Loans.
LIBOR	London Interbank Offered Rate.
REIT	Real Estate Investment Trust.
PRIME	U.S. Federal Funds Rate.
REMICS	Real Estate Mortgage Investment Conduits.
SOFRRATE	Secured Overnight Financing Rate.
(144A)	Security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At January 31, 2020, the value of these securities amounted to $7,947,281, or 19.6% of net assets.

†	Amount rounds to less than 0.1%.
*	Senior secured floating rate loan interests in which the Fund invests generally pay interest at rates that are periodically redetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as LIBOR, (ii) the prime rate offered by one or more major United States banks, (iii) the rate of a certificate of deposit or (iv) other base lending rates used by commercial lenders. The interest rate shown is the rate accruing at January 31, 2020.
+	Security that used significant unobservable inputs to determine its value.
(a)	Security is perpetual in nature and has no stated maturity date.
(b)	Floating rate note. Coupon rate, reference index and spread shown at January 31, 2020.
(c)	The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at January 31, 2020.
(d)	Security represents the interest-only portion payments on a pool of underlying mortgages or mortgage-backed securities.
(e)	Debt obligation initially issued at one coupon which converts to a higher coupon at a specific date.  The rate shown is the rate at January 31, 2020.
(f)	Security issued with a zero coupon. Income is recognized through accretion of discount.
(g)	Securities are restricted as to resale.
(h)	Issued as preference shares.
(i)	Non-income producing security.
(j)	Issued as participation notes.
(k)	Consists of Revenue Bonds unless otherwise indicated.
(l)	Pioneer ILS Interval Fund is an affiliated closed-end fund managed by Amundi Pioneer Asset Management, Inc. (the “Adviser”).

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS
Currency Purchased	In Exchange for		Currency Sold	Deliver			Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
AUD		190,319	USD		(130,537	)	Bank of America NA	2/27/20	$	(3,050	)
TRY		1,208,333	ZAR		(3,038,621	)	Bank of America NA	2/4/20		(709	)
BRL		410,000	USD		(97,728	)	Citibank NA	2/26/20		(2,144	)
CZK		11,566,647	USD		(506,744	)	Citibank NA	2/27/20		1,570
AUD		1,196,495	NZD		(1,247,779	)	Goldman Sachs International	2/25/20		(5,425	)
BRL		400,000	USD		(95,265	)	Goldman Sachs International	2/26/20		(2,013	)
COP		639,775,000	USD		(188,609	)	Goldman Sachs International	2/25/20		(1,740	)
USD		576,995	MXN		(11,015,402	)	Goldman Sachs International	2/27/20		(4,844	)
EUR		386,226	GBP		(326,359	)	HSBC Bank USA NA	3/2/20		(2,166	)
AUD		1,200,000	USD		(829,382	)	JPMorgan Chase Bank NA	2/27/20		(25,545	)
CHF		410,894	USD		(423,741	)	JPMorgan Chase Bank NA	2/27/20		3,336
EUR		4,151,596	USD		(4,585,893	)	JPMorgan Chase Bank NA	2/26/20		22,987
INR		16,386,000	USD		(230,335	)	JPMorgan Chase Bank NA	2/25/20		(1,807	)
NOK		5,314,802	USD		(588,229	)	JPMorgan Chase Bank NA	2/27/20		(10,142	)
SEK		3,582,370	USD		(374,880	)	JPMorgan Chase Bank NA	2/27/20		(2,147	)
USD		290,870	GBP		(222,307	)	JPMorgan Chase Bank NA	2/27/20		(2,726	)
CAD		1,064,000	USD		(799,924	)	Morgan Stanley	2/4/20		4,066
JPY		453,009,838	USD		(4,158,158	)	State Street Bank & Trust Co.	2/27/20		27,237
USD		2,293,094	EUR		(2,055,000	)	State Street Bank & Trust Co.	2/26/20		11,743
USD		23,539	JPY		(2,581,079	)	State Street Bank & Trust Co.	2/27/20		(307	)
TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS									$	6,174

FUTURES CONTRACTS
FIXED INCOME INDEX FUTURES CONTRACTS
Number of Contracts Long		Description	Expiration Date	Notional Amount			Market Value			Unrealized Appreciation
	11	Australia 10-Year Bond	3/16/20	$	1,073,970		$	1,089,276		$	15,306
	6	Canada 10-Year Bond	3/20/20		634,683			644,567			9,884
	5	Euro BUXL 30 Year Bond	3/6/20		1,126,661			1,169,124			42,463
	4	Euro-Bund	3/6/20		762,874			776,267			13,393
	1	U.S. Ultra Bond (CBT)	3/20/20		187,813			193,688			5,875
				$	3,786,001		$	3,872,922		$	86,921
Number of Contracts Short		Description	Expiration Date	Notional Amount			Market Value			Unrealized (Depreciation)
	17	Euro-Bobl	3/6/20	$	2,526,184		$	2,543,713		$	(17,528	)
	1	U.S. 5 Year Note (CBT)	3/31/20		119,023			120,320			(1,297	)
	24	U.S. 10 Year Note (CBT)	3/20/20		3,109,484			3,159,750			(50,266	)
	25	U.S. 10 Year Ultra	3/20/20		3,563,445			3,641,406			(77,961	)
	6	U.S. Long Bond (CBT)	3/20/20		955,711			981,187			(25,477	)
				$	10,273,847		$	10,446,376		$	(172,529	)
TOTAL FUTURES CONTRACTS				$	(6,487,846	)	$	(6,573,454	)	$	(85,608	)

Principal amounts are denominated in U.S. dollars ("USD") unless otherwise noted.
ARS	-	Argentine Peso
AUD	-	Australian Dollar
BRL	-	Brazilian Real
CAD	-	Canadian Dollar
CHF	-	Swiss Franc
COP	-	Colombian Peso
CZK	-	Czech Koruna
DOP	-	Dominican Republic Peso
EGP	-	Egyptian Pound
EUR	-	Euro
GBP	-	Great British Pound
IDR	-	Indonesian Rupiah
INR	-	Indian Rupee
JPY	-	Japanese Yen
MXN	-	Mexican Peso
NOK	-	Norwegian Krone
NZD	-	New Zealand Dollar
RUB	-	Russian Ruble
SEK	-	Swedish Krona
TRY	-	Turkish Lira
UYU	-	Uruguayan Peso
ZAR	-	South African Rand

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels below.

Level 1 - quoted prices in active markets for identical securities.

Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments).

The following is a summary of the inputs used as of January 31, 2020, in valuing the Fund's investments:

	Level 1			Level 2		Level 3		Total
Convertible Preferred Stock	$	306,021		$	–	$	–	$	306,021
Asset Backed Securities		–			174,431		–		174,431
Collateralized Mortgage Obligations		–			2,668,910		–		2,668,910
Corporate Bonds		–			15,930,416		–		15,930,416
Foreign Government Bonds		–			9,569,715		–		9,569,715
Insurance-Linked Securities
Reinsurance Sidecars
Multiperil - Worldwide		–			–		48,570		48,570
Municipal Bonds		–			55,411		–		55,411
Senior Secured Floating Rate Loan     Interests		–			2,195,285		–		2,195,285
U.S. Government and Agency Obligations		–			7,623,560		–		7,623,560
Affiliated Closed-End Fund		–			951,239		–		951,239
Total Investments in Securities	$	306,021		$	39,168,967	$	48,570	$	39,523,558
Other Financial Instruments
Net unrealized appreciation on forward foreign currency exchange contracts	$	–		$	6,174	$	–	$	6,174
Net unrealized depreciation on futures contracts		(85,608	)		–		–		(85,608	)
Total Other Financial Instruments	$	(85,608	)	$	6,174	$	–	$	(79,434	)

The following is a reconciliation of assets valued using significant unobservable inputs (Level 3):

	Collateralized Mortgage Obligations			Insurance- Linked Securities			Total
Balance as of 10/31/19	$	100,000		$	50,918		$	150,918
Realized gain (loss)		–			–			--
Change in unrealized appreciation (depreciation)		–			1,078			1,078
Accrued discounts/premiums		–			–			--
Purchases		–			40,533			40,533
Sales		(100,000	)		(43,959	)		(143,959	)
Transfers in to Level 3*		–			–			--
Transfers out of Level 3*		–			–			--
Balance as of 1/31/20	$	–		$	48,570		$	48,570

* Transfers are calculated on the beginning of period value. For three months ended January 31, 2020, there were no transfers between Levels 1, 2 and 3.

Net change in unrealized appreciation (depreciation) of Level 3 investments still held and considered Level 3 at January 31, 2020: $1,078.