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

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

	Shares						Value
		UNAFFILIATED ISSUERS - 88.4%
		CONVERTIBLE PREFERRED STOCK - 1.1% of Net Assets
		Banks - 1.1%
	211(a)	Wells Fargo & Co., 7.5%					$285,167
		Total Banks					$285,167
		TOTAL CONVERTIBLE PREFERRED STOCK
		(Cost $294,931)					$285,167
	Principal Amount USD ($)						Value
		ASSET BACKED SECURITY - 0.4% of Net Assets
	100,000	Progress Residential Trust, Series 2017-SFR1, Class E, 4.261%, 8/17/34 (144A)					$101,843
		TOTAL ASSET BACKED SECURITY
		(Cost $99,999)					$101,843
		COLLATERALIZED MORTGAGE OBLIGATIONS - 0.3% of Net Assets
	235(b)	Alternative Loan Trust, Series 2003-14T1, Class A9, 0.622% (1 Month USD LIBOR + 45 bps), 8/25/18					$228
	2,828	Federal National Mortgage Association REMICS, Series 2009-36, Class HX, 4.5%, 6/25/29					2,986
	14,996	Government National Mortgage Association, Series 2005-61, Class UZ, 5.25%, 8/16/35					15,751
	13,126	Government National Mortgage Association, Series 2009-83, Class EB, 4.5%, 9/20/39					14,816
	249,986(c)	Government National Mortgage Association, Series 2019-159, Class CI, 3.5%, 12/20/49					24,476
	31,174(b)	Interstar Millennium Trust, Series 2003-3G, Class A2, 0.806% (3 Month USD LIBOR + 50 bps), 9/27/35					28,954
	68(b)	RALI Trust, Series 2002-QS16, Class A2, 0.722% (1 Month USD LIBOR + 55 bps), 10/25/17					68
		TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
		(Cost $101,555)					$87,279
		COMMERCIAL MORTGAGE-BACKED SECURITY - 0.0% of Net Assets
	43,605(c)(d)	Bayview Commercial Asset Trust, Series 2007-2A, Class IO, 0.0%, 7/25/37 (144A)					$—
		TOTAL COMMERCIAL MORTGAGE-BACKED SECURITY
		(Cost $15,012)					$—
		CONVERTIBLE CORPORATE BOND - 0.2% of Net Assets
		Biotechnology - 0.2%
	50,000	Exact Sciences Corp., 0.375%, 3/1/28					$51,229
		Total Biotechnology					$51,229
		TOTAL CONVERTIBLE CORPORATE BOND
		(Cost $42,516)					$51,229
		CORPORATE BONDS - 45.4% of Net Assets
		Advertising - 0.4%
	83,000	Interpublic Group of Cos., Inc., 4.75%, 3/30/30					$100,509
		Total Advertising					$100,509
		Aerospace & Defense - 1.0%
	134,000	Boeing Co., 3.75%, 2/1/50					$121,892
	60,000	Boeing Co., 5.805%, 5/1/50					70,473
	40,000	Raytheon Technologies Corp., 4.125%, 11/16/28					48,063
		Total Aerospace & Defense					$240,428
		Agriculture - 0.5%
EUR	100,000	BAT Capital Corp., 1.125%, 11/16/23					$120,381
	25,000	Cargill, Inc., 2.125%, 4/23/30 (144A)					26,480
		Total Agriculture					$146,861
		Auto Manufacturers - 0.8%
	110,000	Ford Motor Co., 4.346%, 12/8/26					$111,650
	90,000	General Motors Co., 6.6%, 4/1/36					109,599
		Total Auto Manufacturers					$221,249
		Auto Parts & Equipment - 0.1%
	25,000	Lear Corp., 3.5%, 5/30/30					$25,418
		Total Auto Parts & Equipment					$25,418
		Banks - 8.4%
	42,000(e)	Bank of America Corp., 4.083% (3 Month USD LIBOR + 315 bps), 3/20/51					$54,549
	60,000(a)(e)	Bank of America Corp., 4.3% (3 Month USD LIBOR + 266 bps)					56,658
EUR	150,000	BNP Paribas SA, 2.375%, 2/17/25					188,017
EUR	200,000	BPCE SA, 2.875%, 4/22/26					264,223
	85,000(a)(e)	Citigroup, Inc., 4.7% (SOFRRATE + 323 bps)					81,706
	75,000	Cooperatieve Rabobank UA, 3.875%, 2/8/22					78,922
	200,000(a)(e)	Credit Suisse Group AG, 5.1% (5 Year CMT Index + 329 bps) (144A)					197,700
EUR	100,000	Goldman Sachs Group, Inc., 1.625%, 7/27/26					124,980
	105,000(e)	Goldman Sachs Group, Inc., 4.223% (3 Month USD LIBOR + 130 bps), 5/1/29					124,262
EUR	200,000(e)	ING Groep NV, 3.0% (5 Year EUR Swap Rate + 285 bps), 4/11/28					248,640
EUR	200,000(a)(e)	Intesa Sanpaolo S.p.A., 7.75% (5 Year EUR Swap Rate + 719 bps)					260,664
	126,000(a)(e)	JPMorgan Chase & Co., 4.6% (SOFRRATE + 313 bps)					121,918
	128,000(a)(e)	JPMorgan Chase & Co., 5.0% (SOFRRATE + 338 bps)					128,857
EUR	100,000(b)	Mediobanca Banca di Credito Finanziario S.p.A., 0.538% (3 Month EURIBOR + 80 bps), 5/18/22					117,438
	200,000(a)(e)	UBS Group AG, 7.0% (5 Year USD Swap Rate + 434 bps) (144A)					212,222
		Total Banks					$2,260,756
		Beverages - 1.1%
	115,000	Anheuser-Busch InBev Worldwide, Inc., 5.55%, 1/23/49					$161,647
	100,000	Bacardi, Ltd., 5.3%, 5/15/48 (144A)					135,584
		Total Beverages					$297,231
		Building Materials - 1.5%
EUR	100,000	Buzzi Unicem S.p.A., 2.125%, 4/28/23					$122,468
	Principal Amount USD ($)						Value
		Building Materials - (continued)
EUR	100,000	HeidelbergCement AG, 2.25%, 6/3/24					$124,850
EUR	100,000	Holcim Finance Luxembourg SA, 2.25%, 5/26/28					132,133
	35,000	Martin Marietta Materials, Inc., 2.5%, 3/15/30					36,792
		Total Building Materials					$416,243
		Chemicals - 0.6%
EUR	100,000	Arkema SA, 1.5%, 1/20/25					$124,173
	48,000	Tronox, Inc., 6.5%, 4/15/26 (144A)					48,120
		Total Chemicals					$172,293
		Commercial Services - 1.0%
EUR	100,000	Brisa-Concessao Rodoviaria SA, 2.0%, 3/22/23					$121,552
	133,000	Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 1/15/28 (144A)					138,653
		Total Commercial Services					$260,205
		Diversified Financial Services - 0.2%
	40,000(a)(e)	Charles Schwab Corp., 5.375% (5 Year CMT Index + 497 bps)					$43,800
		Total Diversified Financial Services					$43,800
		Electric - 3.0%
	15,000	AES Corp., 3.95%, 7/15/30 (144A)					$16,087
GBP	125,000	Cadent Finance Plc, 2.125%, 9/22/28					174,909
	79,000(a)(e)	Dominion Energy, Inc., 4.65% (5 Year CMT Index + 299 bps)					80,454
GBP	75,000	innogy Finance BV, 5.625%, 12/6/23					113,928
	31,000	New York State Electric & Gas Corp., 3.3%, 9/15/49 (144A)					33,904
	85,000	NextEra Energy Capital Holdings, Inc., 3.55%, 5/1/27					98,626
	40,000	Puget Energy, Inc., 4.1%, 6/15/30 (144A)					44,874
	65,000	Sempra Energy, 3.4%, 2/1/28					73,541
	50,000	Southern California Edison Co., 3.65%, 2/1/50					58,009
	95,000	Vistra Operations Co. LLC, 3.7%, 1/30/27 (144A)					100,498
		Total Electric					$794,830
		Electrical Components & Equipment- 0.4%
EUR	100,000	Belden, Inc., 2.875%, 9/15/25 (144A)					$113,475
		Total Electrical Components & Equipment					$113,475
		Electronics - 0.7%
	41,000	Amphenol Corp., 3.2%, 4/1/24					$44,420
	115,000	Flex, Ltd., 4.875%, 6/15/29					132,790
		Total Electronics					$177,210
		Engineering & Construction - 0.4%
EUR	100,000(a)(e)	Ferrovial Netherlands BV, 2.124% (5 Year EUR Swap Rate + 213 bps)					$113,073
		Total Engineering & Construction					$113,073
		Forest Products & Paper - 0.5%
	50,000	International Paper Co., 4.8%, 6/15/44					$63,832
	5,000	International Paper Co., 6.0%, 11/15/41					7,033
	37,000	International Paper Co., 7.3%, 11/15/39					54,459
		Total Forest Products & Paper					$125,324
		Gas - 0.4%
	15,000	Boston Gas Co., 3.15%, 8/1/27 (144A)					$16,716
	73,813	Nakilat, Inc., 6.267%, 12/31/33 (144A)					88,022
		Total Gas					$104,738
		Hand/Machine Tools - 0.1%
	20,000(e)	Stanley Black & Decker, Inc., 4.0% (5 Year CMT Index + 266 bps), 3/15/60					$20,827
		Total Hand/Machine Tools					$20,827
		Healthcare-Products - 0.1%
	24,000	Abbott Laboratories, 3.75%, 11/30/26					$28,256
		Total Healthcare-Products					$28,256
		Healthcare-Services - 1.2%
	40,000	Anthem, Inc., 3.65%, 12/1/27					$46,111
	6,000	Anthem, Inc., 4.101%, 3/1/28					7,162
	32,000	Health Care Service Corp. A Mutual Legal Reserve Co., 3.2%, 6/1/50 (144A)					35,168
	80,000	Humana, Inc., 3.95%, 3/15/27					92,018
EUR	100,000	IQVIA, Inc., 2.875%, 9/15/25 (144A)					119,356
	20,000	LifePoint Health, Inc., 6.75%, 4/15/25 (144A)					21,550
		Total Healthcare-Services					$321,365
		Insurance - 6.5%
EUR	100,000(a)(e)	Allianz SE, 3.375% (10 Year EUAMDB + 320 bps)					$127,267
EUR	200,000	Assicurazioni Generali S.p.A., 4.125%, 5/4/26					265,178
EUR	100,000(e)	Aviva Plc, 6.125% (5 Year EUR Swap Rate + 513 bps), 7/5/43					133,853
EUR	100,000(a)(e)	AXA SA, 3.875% (11 Year EUR Swap Rate + 325 bps)					130,277
	60,000	AXA SA, 8.6%, 12/15/30					89,400
	80,000	CNO Financial Group, Inc., 5.25%, 5/30/29					91,318
EUR	100,000(e)	CNP Assurances, 6.0% (3 Month EURIBOR + 447 bps), 9/14/40					118,137
	20,000(e)	Farmers Exchange Capital III, 5.454% (3 Month USD LIBOR + 345 bps), 10/15/54 (144A)					23,584
	100,000(e)	Farmers Insurance Exchange, 4.747% (3 Month USD LIBOR + 323 bps), 11/1/57 (144A)					103,820
	100,000	Liberty Mutual Insurance Co., 7.697%, 10/15/97 (144A)					169,758
EUR	100,000(e)	Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, 6.25% (3 Month EURIBOR + 495 bps), 5/26/42					129,333
	25,000	New York Life Insurance Co., 3.75%, 5/15/50 (144A)					30,397
EUR	100,000(a)(e)	NN Group NV, 4.375% (3 Month EURIBOR + 390 bps)					127,850
	78,000	Prudential Financial, Inc., 3.0%, 3/10/40					87,358
	100,000	Teachers Insurance & Annuity Association of America, 4.9%, 9/15/44 (144A)					135,903
	Principal Amount USD ($)						Value
		Insurance - (continued)
	11,000	Willis North America, Inc., 2.95%, 9/15/29					$12,067
		Total Insurance					$1,775,500
		Internet - 0.9%
	100,000	Booking Holdings, Inc., 4.625%, 4/13/30					$121,810
	80,000	Expedia Group, Inc., 3.25%, 2/15/30					75,556
	50,000	Expedia Group, Inc., 3.8%, 2/15/28					49,513
		Total Internet					$246,879
		Leisure Time - 0.1%
	29,000	Royal Caribbean Cruises, Ltd., 11.5%, 6/1/25 (144A)					$31,957
		Total Leisure Time					$31,957
		Lodging - 0.4%
EUR	100,000	Accor SA, 1.25%, 1/25/24					$113,695
	10,000	Marriott International, Inc., 4.625%, 6/15/30					10,718
	5,000	Marriott International, Inc., 5.75%, 5/1/25					5,554
		Total Lodging					$129,967
		Media - 0.7%
	50,000	CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 3/1/30 (144A)					$53,219
	60,000	Comcast Corp., 4.15%, 10/15/28					73,747
	100,000	Diamond Sports Group LLC/Diamond Sports Finance Co., 6.625%, 8/15/27 (144A)					54,750
	10,000	Walt Disney Co., 3.6%, 1/13/51					11,741
		Total Media					$193,457
		Mining - 0.7%
	115,000	Freeport-McMoRan, Inc., 5.45%, 3/15/43					$127,937
	50,000	Joseph T Ryerson & Son, Inc., 11.0%, 5/15/22 (144A)					51,565
		Total Mining					$179,502
		Miscellaneous Manufacturers - 0.3%
	35,000	General Electric Co., 4.25%, 5/1/40					$35,847
	40,000	General Electric Co., 4.35%, 5/1/50					41,485
		Total Miscellaneous Manufacturers					$77,332
		Multi-National - 1.5%
	200,000	African Export-Import Bank, 3.994%, 9/21/29 (144A)					$202,740
	200,000	Banque Ouest Africaine de Developpment, 4.7%, 10/22/31 (144A)					203,000
		Total Multi-National					$405,740
		Oil & Gas - 1.4%
	40,000	Apache Corp., 4.25%, 1/15/30					$38,512
	65,000	Apache Corp., 4.375%, 10/15/28					64,919
	110,000	Cenovus Energy, Inc., 6.75%, 11/15/39					114,771
	80,000	Marathon Petroleum Corp., 5.375%, 10/1/22					80,377
	39,000	Petroleos Mexicanos, 5.35%, 2/12/28					34,223
	29,000	Valero Energy Corp., 6.625%, 6/15/37					40,057
ARS	2,154,200	YPF SA, 16.5%, 5/9/22 (144A)					19,363
		Total Oil & Gas					$392,222
		Pharmaceuticals - 1.0%
	62,000	AbbVie, Inc., 4.05%, 11/21/39 (144A)					$76,287
	23,000	Bausch Health Americas, Inc., 8.5%, 1/31/27 (144A)					25,588
EUR	100,000	Bausch Health Cos., Inc., 4.5%, 5/15/23					117,411
	15,000	Bausch Health Cos., Inc., 5.0%, 1/30/28 (144A)					15,075
	30,000	Cardinal Health, Inc., 4.9%, 9/15/45					37,293
	10,700	CVS Pass-Through Trust, 5.773%, 1/10/33 (144A)					12,392
		Total Pharmaceuticals					$284,046
		Pipelines - 4.2%
	19,000	Cameron LNG LLC, 3.302%, 1/15/35 (144A)					$21,524
	43,000	Cameron LNG LLC, 3.402%, 1/15/38 (144A)					47,273
	100,000	Enable Midstream Partners LP, 4.4%, 3/15/27					94,714
	75,000	Enable Midstream Partners LP, 4.95%, 5/15/28					72,143
	100,000	Energy Transfer Operating LP, 5.875%, 1/15/24					110,301
	110,000(a)(e)	Energy Transfer Operating LP, 7.125% (5 Year CMT Index + 531 bps)					91,437
	155,000	EnLink Midstream Partners LP, 5.45%, 6/1/47					87,342
	39,000	EnLink Midstream Partners LP, 5.6%, 4/1/44					21,645
	10,000	Enterprise Products Operating LLC, 3.95%, 1/31/60					10,980
	125,000	MPLX LP, 4.875%, 12/1/24					140,694
	125,000	Phillips 66 Partners LP, 3.75%, 3/1/28					132,564
	60,000	Sabine Pass Liquefaction LLC, 5.0%, 3/15/27					68,646
	60,000	Sunoco Logistics Partners Operations LP, 6.1%, 2/15/42					63,094
	90,000	Texas Eastern Transmission LP, 3.5%, 1/15/28 (144A)					98,469
	57,000	Williams Cos., Inc., 5.75%, 6/24/44					69,100
	13,000	Williams Cos., Inc., 7.75%, 6/15/31					17,124
		Total Pipelines					$1,147,050
		Real Estate - 1.4%
EUR	100,000	Akelius Residential Property AB, 1.125%, 3/14/24					$118,357
EUR	100,000	Annington Funding Plc, 1.65%, 7/12/24					121,805
EUR	100,000(a)(e)	ATF Netherlands BV, 3.75% (5 Year EUR Swap Rate + 438 bps)					119,313
		Total Real Estate					$359,475
		REITs - 1.0%
	23,000	Alexandria Real Estate Equities, Inc., 4.3%, 1/15/26					$26,803
	30,000	GLP Capital LP/GLP Financing II, Inc., 4.0%, 1/15/30					30,906
	60,000	Healthcare Trust of America Holdings LP, 3.75%, 7/1/27					65,196
	Principal Amount USD ($)						Value
		REITs - (continued)
	35,000	Highwoods Realty LP, 3.625%, 1/15/23					$36,436
	25,000	Simon Property Group LP, 3.25%, 9/13/49					24,978
	27,000	UDR, Inc., 4.0%, 10/1/25					30,559
	75,000	Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 7.875%, 2/15/25 (144A)					78,938
		Total REITs					$293,816
		Retail - 0.1%
	20,000	AutoNation, Inc., 4.75%, 6/1/30					$23,173
		Total Retail					$23,173
		Savings & Loans - 0.5%
EUR	100,000	Leeds Building Society, 1.375%, 5/5/22					$120,175
		Total Savings & Loans					$120,175
		Semiconductors - 0.2%
	15,000	Broadcom, Inc., 4.3%, 11/15/32 (144A)					$17,205
	25,000	Broadcom, Inc., 5.0%, 4/15/30 (144A)					29,714
		Total Semiconductors					$46,919
		Software - 0.5%
	135,000	Citrix Systems, Inc., 3.3%, 3/1/30					$146,419
		Total Software					$146,419
		Telecommunications - 1.2%
GBP	100,000	Koninklijke KPN NV, 5.0%, 11/18/26					$154,914
EUR	125,000(a)(e)	Orange SA, 5.0% (5 Year EUR Swap Rate + 399 bps)					174,550
		Total Telecommunications					$329,464
		Water - 0.4%
EUR	100,000	FCC Aqualia SA, 1.413%, 6/8/22					$119,054
		Total Water					$119,054
		TOTAL CORPORATE BONDS
		(Cost $11,767,645)					$12,286,238
		FOREIGN GOVERNMENT BONDS - 15.0% of Net Assets
		Argentina - 1.4%
	100,000(f)	Argentine Republic Government International Bond, 6.875%, 1/26/27					$42,250
	300,000(f)	Argentine Republic Government International Bond, 7.5%, 4/22/26					129,000
	250,000	Ciudad Autonoma De Buenos Aires, 7.5%, 6/1/27 (144A)					218,750
		Total Argentina					$390,000
		Bahrain - 0.8%
	200,000	Bahrain Government International Bond, 7.0%, 10/12/28 (144A)					$223,590
		Total Bahrain					$223,590
		Egypt - 1.4%
EGP	1,754,000	Egypt Government Bond, 15.7%, 11/7/27					$115,243
	269,000	Egypt Government International Bond, 7.6%, 3/1/29 (144A)					274,185
		Total Egypt					$389,428
		Ghana - 0.7%
	200,000	Ghana Government International Bond, 7.875%, 2/11/35 (144A)					$177,080
		Total Ghana					$177,080
		Ivory Coast - 0.5%
EUR	110,000	Ivory Coast Government International Bond, 5.875%, 10/17/31 (144A)					$120,278
		Total Ivory Coast					$120,278
		Japan - 5.0%
JPY	75,000,000	Japan Government Thirty Year Bond, 0.8%, 12/20/47					$763,264
JPY	60,000,000	Japan Government Twenty Year Bond, 0.6%, 12/20/37					593,279
		Total Japan					$1,356,543
		Mexico - 2.6%
MXN	9,930,000	Mexican Bonos, 8.5%, 5/31/29					$533,226
MXN	3,732,860	Mexican Udibonos, 2.0%, 6/9/22					170,437
		Total Mexico					$703,663
		Peru - 0.5%
	130,000	Peruvian Government International Bond, 2.783%, 1/23/31					$144,755
		Total Peru					$144,755
		Ukraine - 1.2%
EUR	115,000	Ukraine Government International Bond, 4.375%, 1/27/30 (144A)					$113,625
	200,000	Ukraine Government International Bond, 8.994%, 2/1/24 (144A)					215,180
		Total Ukraine					$328,805
		Uruguay - 0.9%
UYU	9,771,000	Uruguay Government International Bond, 9.875%, 6/20/22 (144A)					$232,479
		Total Uruguay					$232,479
		TOTAL FOREIGN GOVERNMENT BONDS
		(Cost $4,426,865)					$4,066,621
	Face Amount USD ($)						Value
		INSURANCE-LINKED SECURITIES - 0.2% of Net Assets#
		Reinsurance Sidecars - 0.2%
		Multiperil - Worldwide - 0.2%
	30,000+(g)(h)	Lorenz Re 2018, 7/1/21					$1,311
	30,000+(i)	Pangaea Re 2015-2, 5/29/21					45
	30,000+(i)	Pangaea Re 2016-1, 11/30/20					67
	50,000+(g)(i)	Pangaea Re 2017-1, 11/30/21					5
	Face Amount USD ($)						Value
		Multiperil - Worldwide - (continued)
	50,000+(g)(i)	Pangaea Re 2018-1, 12/31/21					$2,940
	40,962+(g)(i)	Pangaea Re 2019-1, 2/1/23					853
	40,532+(g)(i)	Pangaea Re 2020-1, 2/1/24					41,999
							$47,220
		Total Reinsurance Sidecars					$47,220
		TOTAL INSURANCE-LINKED SECURITIES
		(Cost $66,983)					$47,220
	Principal Amount USD ($)						Value
		MUNICIPAL BOND - 0.1% of Net Assets(j)
		Municipal General - 0.1%
	30,000	Virginia Commonwealth Transportation Board, 4.0%, 5/15/32					$32,935
		Total Municipal General					$32,935
		TOTAL MUNICIPAL BOND
		(Cost $30,666)					$32,935
		SENIOR SECURED FLOATING RATE LOAN INTEREST - 0.1% of Net Assets*(b)
		Insurance - 0.1%
	33,383	Integro Parent, Inc., First Lien Initial Term Loan, 6.75% (LIBOR + 575 bps), 10/31/22					$32,215
		Total Insurance					$32,215
		TOTAL SENIOR SECURED FLOATING RATE LOAN INTEREST
		(Cost $33,365)					$32,215
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 25.6% of Net Assets
	100,000	Fannie Mae, 1.5%, 10/1/35 (TBA)					$102,225
	200,000	Fannie Mae, 2.0%, 9/1/35 (TBA)					207,817
	550,000	Fannie Mae, 2.0%, 9/1/50 (TBA)					568,922
	350,000	Fannie Mae, 2.5%, 7/1/50 (TBA)					367,719
	100,000	Fannie Mae, 2.5%, 9/1/50 (TBA)					104,909
	16,221	Fannie Mae, 3.0%, 5/1/31					17,411
	31,994	Fannie Mae, 3.0%, 2/1/43					34,970
	21,891	Fannie Mae, 3.0%, 3/1/43					23,927
	21,251	Fannie Mae, 3.0%, 5/1/43					23,331
	21,990	Fannie Mae, 3.0%, 5/1/43					23,637
	24,132	Fannie Mae, 3.0%, 6/1/45					26,484
	35,427	Fannie Mae, 3.0%, 1/1/47					38,968
	29,024	Fannie Mae, 3.0%, 3/1/47					30,838
	162,000	Fannie Mae, 3.0%, 9/1/50 (TBA)					170,993
	34,430	Fannie Mae, 3.5%, 6/1/42					37,860
	90,928	Fannie Mae, 3.5%, 9/1/42					99,099
	65,803	Fannie Mae, 3.5%, 5/1/44					70,510
	23,245	Fannie Mae, 3.5%, 2/1/45					25,655
	64,109	Fannie Mae, 3.5%, 2/1/45					71,322
	14,590	Fannie Mae, 3.5%, 6/1/45					15,786
	27,558	Fannie Mae, 3.5%, 8/1/45					29,528
	15,007	Fannie Mae, 3.5%, 9/1/45					16,695
	50,480	Fannie Mae, 3.5%, 9/1/45					54,625
	66,394	Fannie Mae, 3.5%, 10/1/45					71,806
	26,546	Fannie Mae, 3.5%, 1/1/47					28,717
	34,258	Fannie Mae, 3.5%, 1/1/47					36,437
	34,390	Fannie Mae, 3.5%, 1/1/47					37,785
	240,000	Fannie Mae, 3.5%, 9/1/50 (TBA)					253,198
	27,186	Fannie Mae, 4.0%, 10/1/40					30,790
	53,163	Fannie Mae, 4.0%, 1/1/42					58,490
	10,824	Fannie Mae, 4.0%, 2/1/42					11,912
	16,935	Fannie Mae, 4.0%, 5/1/42					18,361
	29,621	Fannie Mae, 4.0%, 11/1/43					33,090
	22,083	Fannie Mae, 4.0%, 6/1/46					23,723
	16,539	Fannie Mae, 4.0%, 11/1/46					17,756
	17,381	Fannie Mae, 4.0%, 4/1/47					18,903
	25,761	Fannie Mae, 4.0%, 4/1/47					27,991
	584,000	Fannie Mae, 4.0%, 9/1/50 (TBA)					620,895
	8,892	Fannie Mae, 4.5%, 4/1/41					9,885
	6,823	Fannie Mae, 4.5%, 5/1/41					7,691
	19,450	Fannie Mae, 4.5%, 11/1/43					21,638
	21,471	Fannie Mae, 4.5%, 2/1/44					23,739
	26,115	Fannie Mae, 4.5%, 2/1/44					29,054
	239,448	Fannie Mae, 4.5%, 5/1/49					260,155
	167,000	Fannie Mae, 4.5%, 4/1/50					182,424
	194,000	Fannie Mae, 4.5%, 8/1/50 (TBA)					208,573
	200,000	Fannie Mae, 4.5%, 9/1/50 (TBA)					215,148
	21,340	Fannie Mae, 5.0%, 8/1/31					23,944
	9,624	Fannie Mae, 5.0%, 6/1/40					11,066
	6,383	Fannie Mae, 5.5%, 10/1/35					7,434
	9,732	Federal Home Loan Mortgage Corp., 3.0%, 9/1/42					10,685
	11,977	Federal Home Loan Mortgage Corp., 3.0%, 1/1/43					13,152
	23,127	Federal Home Loan Mortgage Corp., 3.0%, 2/1/43					25,395
	26,451	Federal Home Loan Mortgage Corp., 3.0%, 4/1/43					28,770
	44,366	Federal Home Loan Mortgage Corp., 3.0%, 4/1/43					48,718
	Principal Amount USD ($)						Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS - (continued)
	12,947	Federal Home Loan Mortgage Corp., 3.0%, 5/1/43					$14,083
	18,500	Federal Home Loan Mortgage Corp., 3.0%, 12/1/46					19,664
	54,041	Federal Home Loan Mortgage Corp., 3.0%, 2/1/47					57,398
	12,383	Federal Home Loan Mortgage Corp., 3.5%, 10/1/42					13,620
	61,908	Federal Home Loan Mortgage Corp., 3.5%, 6/1/45					68,062
	68,619	Federal Home Loan Mortgage Corp., 3.5%, 11/1/45					73,444
	57,135	Federal Home Loan Mortgage Corp., 3.5%, 7/1/46					63,580
	23,168	Federal Home Loan Mortgage Corp., 3.5%, 8/1/46					25,327
	63,814	Federal Home Loan Mortgage Corp., 3.5%, 8/1/46					69,443
	77,752	Federal Home Loan Mortgage Corp., 3.5%, 8/1/46					85,388
	50,616	Federal Home Loan Mortgage Corp., 3.5%, 12/1/46					55,649
	68,225	Federal Home Loan Mortgage Corp., 4.0%, 1/1/44					74,749
	13,452	Federal Home Loan Mortgage Corp., 4.0%, 4/1/47					14,544
	15,678	Federal Home Loan Mortgage Corp., 4.0%, 4/1/47					17,051
	31,859	Federal Home Loan Mortgage Corp., 4.0%, 4/1/47					34,604
	29,173	Federal Home Loan Mortgage Corp., 4.5%, 6/1/41					32,433
	13,916	Federal Home Loan Mortgage Corp., 5.0%, 9/1/38					15,950
	16,238	Federal Home Loan Mortgage Corp., 5.0%, 10/1/38					18,609
	2,095	Federal Home Loan Mortgage Corp., 5.0%, 5/1/39					2,353
	5,173	Federal Home Loan Mortgage Corp., 5.0%, 12/1/39					5,947
	9,749	Federal Home Loan Mortgage Corp., 6.0%, 8/1/37					10,973
	13,893	Federal Home Loan Mortgage Corp., 6.5%, 1/1/38					16,890
	22,873	Federal Home Loan Mortgage Corp., 6.5%, 4/1/38					26,600
	34,454	Government National Mortgage Association I, 3.5%, 11/15/41					36,770
	6,831	Government National Mortgage Association I, 3.5%, 10/15/42					7,280
	22,657	Government National Mortgage Association I, 3.5%, 8/15/46					23,914
	23,139	Government National Mortgage Association I, 4.0%, 4/15/45					25,025
	31,149	Government National Mortgage Association I, 4.0%, 6/15/45					33,632
	18,815	Government National Mortgage Association I, 4.5%, 1/15/40					21,107
	14,949	Government National Mortgage Association I, 4.5%, 9/15/40					16,631
	5,603	Government National Mortgage Association I, 4.5%, 10/15/40					6,176
	14,315	Government National Mortgage Association I, 4.5%, 7/15/41					15,892
	21,918	Government National Mortgage Association II, 3.0%, 9/20/46					23,234
	20,155	Government National Mortgage Association II, 4.5%, 9/20/41					22,187
	37,910	Government National Mortgage Association II, 4.5%, 9/20/44					39,902
	12,686	Government National Mortgage Association II, 4.5%, 10/20/44					13,986
	26,993	Government National Mortgage Association II, 4.5%, 11/20/44					29,757
	71,348	Government National Mortgage Association II, 4.5%, 4/20/48					76,989
	127,033	U.S. Treasury Inflation Indexed Bonds, 0.875%, 2/15/47					173,456
	431,488	U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/48					611,415
	235,368	U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/49					337,660
		TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS
		(Cost $6,401,548)					$6,911,930
	Number of Contracts	Description	Counterparty	Amount	Strike Price	Expiration Date	Value
		OVER THE COUNTER (OTC) CURRENCY PUT OPTION PURCHASED -  0.0%†
	890,000	Put EUR Call USD	Bank of America NA	USD 13,862	USD 1.11	3/8/21	$4,961
		TOTAL OVER THE COUNTER (OTC) CURRENCY PUT OPTION PURCHASED
		(Premiums paid $13,862)					$4,961
		TOTAL OPTIONS PURCHASED
		(Premiums paid $13,862)					$4,961
		TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS - 88.4%
		(Cost $23,294,947)					$23,907,638
	Shares			Dividend Income	Net Realized Gain (Loss)	Change in Net Unrealized Appreciation (Depreciation)	Value
		AFFILIATED ISSUER - 3.6%
		CLOSED-END FUND -  3.6% of Net Assets
	114,057(k)	Pioneer ILS Interval Fund		$62,925	$–	$(23,952)	$980,894
		TOTAL CLOSED-END FUND
		(Cost $1,108,478)					$980,894
		TOTAL INVESTMENTS IN AFFILIATED ISSUER - 3.6%
		(Cost $1,108,478)					$980,894
	Number of Contracts	Description	Counterparty	Amount	Strike Price	Expiration Date	Value
		OVER THE COUNTER (OTC) CURRENCY CALL OPTION WRITTEN -  (0.0)%†
	(890,000)	Call EUR Put USD	Bank of America NA	USD 13,862	USD 1.20	3/8/21	$(16,180)
		TOTAL OVER THE COUNTER (OTC) CURRENCY CALL OPTION WRITTEN
		(Premiums received $(13,862))					$(16,180)
		OTHER ASSETS AND LIABILITIES - 8.0%					$2,183,090
		NET ASSETS - 100.0%					$27,055,442

bps	Basis Points.
CMT	Constant Maturity Treasury Index.
EUAMDB	Euribor ICE Swap Rate.
EURIBOR	Euro Interbank Offered Rate.
LIBOR	London Interbank Offered Rate.
REIT	Real Estate Investment Trust.
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 July 31, 2020, the value of these securities amounted to $4,527,940, or 16.7% of net assets.
(TBA)	“To Be Announced” Securities.

†	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 July 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 July 31, 2020.
(c)	Security represents the interest-only portion payments on a pool of underlying mortgages or mortgage-backed securities.
(d)	Debt obligation initially issued at one coupon which converts to a higher coupon at a specific date.  The rate shown is the rate at July 31, 2020.
(e)	The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at July 31, 2020.
(f)	Security is in default.
(g)	Non-income producing security.
(h)	Issued as preference shares.
(i)	Issued as participation notes.
(j)	Consists of Revenue Bonds unless otherwise indicated.
(k)	Pioneer ILS Interval Fund is an affiliated closed-end fund managed by Amundi Pioneer Asset Management, Inc., (the “Adviser”).
#	Securities are restricted as to resale.

Restricted Securities	Acquisition date	Cost	Value
Lorenz Re 2018	6/26/2018	8,201	1,311
Pangaea Re 2015-2	6/5/2015	-	45
Pangaea Re 2016-1	12/29/2015	-	67
Pangaea Re 2017-1	12/28/2016	8,782	5
Pangaea Re 2018-1	12/26/2017	9,038	2,940
Pangaea Re 2019-1	1/9/2019	430	853
Pangaea Re 2020-1	1/21/2020	40,532	41,999
Total Restricted Securities			47,220
% of Net assets			0.20%

FUTURES CONTRACTS
FIXED INCOME INDEX FUTURES CONTRACTS
Number of Contracts Long		Description	Expiration Date	Notional Amount			Market Value			Unrealized Appreciation
	7	Australia 10-Year Bond	9/15/20	$	740,648		$	747,282		$	6,634
	6	Canada 10-Year Bond	9/21/20		687,450			693,411			5,961
	2	Euro-Bund	9/8/20		414,208			418,379			4,171
	5	Euro BUXL 30 Year Bond	9/8/20		1,273,968			1,324,757			50,789
	13	Long Gilt	9/28/20		2,324,950			2,359,867			34,917
	5	U.S. Ultra Bond (CBT)	9/21/20		1,090,196			1,138,438			48,242
				$	6,531,420		$	6,682,134		$	150,714
Number of Contracts Short		Description	Expiration Date	Notional Amount			Market Value			Unrealized (Depreciation)
	22	U.S. 10 Year Note (CBT)	9/21/20	$	3,049,649		$	3,081,719		$	(32,070	)
	25	U.S. 10 Year Ultra	9/21/20		3,915,352			3,981,250			(65,898	)
	6	U.S. Long Bond (CBT)	9/21/20		1,064,813			1,093,688			(28,875	)
				$	8,029,814		$	8,156,657		$	(126,843	)
TOTAL FUTURES CONTRACTS				$	(1,498,394	)	$	(1,474,523	)	$	23,871

SWAP CONTRACT
CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACT - SELL PROTECTION
Notional Amount ($)(1)		Reference Obligation/Index	Pay/ Receive(2)	Annual Fixed Rate	Expiration Date	Premiums (Received)	Unrealized Appreciation	Market Value
1,137,400		Markit CDX North America High Yield Series 34	Receive	5.00%	6/20/25	$(5,213)	$41,022	$35,809
TOTAL CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACT - SELL PROTECTION						$(5,213)	$41,022	$35,809
TOTAL SWAP CONTRACT						$(5,213)	$41,022	$35,809
(1)	The notional amount is the maximum amount that a seller of credit protection would be obligated to pay upon occurrence of a credit event.
(2)	Receives quarterly.

Principal amounts are denominated in U.S. dollars (“USD”) unless otherwise noted.
ARS	-	Argentine Peso
EGP	-	Egyptian Pound
EUR	-	Euro
GBP	-	Great British Pound
JPY	-	Japanese Yen
MXN	-	Mexican Peso
UYU	-	Uruguayan Peso

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 July 31, 2020, in valuing the Fund’s investments:

	Level 1		Level 2			Level 3		Total
Convertible Preferred Stock	$	285,167	$	–		$	–	$	285,167
Asset Backed Security		–		101,843			–		101,843
Collateralized Mortgage Obligations		–		87,279			–		87,279
Commercial Mortgage-Backed Security		–		–	*		–		–	*
Convertible Corporate Bond		–		51,229			–		51,229
Corporate Bonds		–		12,286,238			–		12,286,238
Foreign Government Bonds		–		4,066,621			–		4,066,621
Insurance-Linked Securities
Reinsurance Sidecars
Multiperil - Worldwide		–		–			47,220		47,220
Municipal Bond		–		32,935			–		32,935
Senior Secured Floating Rate Loan   Interest		–		32,215			–		32,215
U.S. Government and Agency Obligations		–		6,911,930			–		6,911,930
Over The Counter (OTC) Currency Put   Option Purchased		–		4,961			–		4,961
Affiliated Closed-End Fund		–		980,894			–		980,894
Total Investments in Securities	$	285,167	$	24,556,145		$	47,220	$	24,888,532
Other Financial Instruments
Over The Counter (OTC) Currency Call Option Written	$	–	$	(16,180	)	$	–	$	(16,180	)
Net unrealized appreciation on futures contracts		23,871		–			–		23,871
Swap contracts, at value		–		35,809			–		35,809
Total Other Financial Instruments	$	23,871	$	19,629		$	–	$	43,500

* Security valued at $0.

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)		680			–	��		680
Change in unrealized appreciation (depreciation)		–			3,493			3,493
Accrued discounts/premiums		–			–			--
Purchases		–			40,532			40,532
Sales		(100,680	)		(47,723	)		(148,403	)
Transfers in to Level 3*		–			–			--
Transfers out of Level 3*		–			–			--
Balance as of 7/31/20	$	–		$	47,220		$	47,220

* Transfers are calculated on the beginning of period value. For nine months ended July 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 July 31, 2020: $3,493.