Pioneer Corporate High Yield Fund
Schedule of Investments | May 31, 2022
A: RCRAX | C: RCRCX | Y: RCRYX |
Schedule of Investments | 5/31/22
(unaudited)
Principal Amount USD ($) | Value | |||||
UNAFFILIATED ISSUERS — 98.6% | ||||||
Corporate Bonds — 94.4% of Net Assets | ||||||
Advertising — 2.7% | ||||||
275,000 | Clear Channel Outdoor Holdings, Inc., 7.50%, 6/1/29 (144A) | $ 223,493 | ||||
170,000 | Clear Channel Outdoor Holdings, Inc., 7.75%, 4/15/28 (144A) | 143,055 | ||||
100,000 | Outfront Media Capital LLC/Outfront Media Capital Corp., 4.25%, 1/15/29 (144A) | 86,230 | ||||
380,000 | Outfront Media Capital LLC/Outfront Media Capital Corp., 6.25%, 6/15/25 (144A) | 378,052 | ||||
429,000 | Stagwell Global LLC, 5.625%, 8/15/29 (144A) | 385,821 | ||||
301,000 | Summer BC Bidco B LLC, 5.50%, 10/31/26 (144A) | 280,231 | ||||
Total Advertising | $1,496,882 | |||||
Aerospace & Defense — 0.9% | ||||||
180,000 | Bombardier, Inc., 7.125%, 6/15/26 (144A) | $ 164,136 | ||||
370,000 | Bombardier, Inc., 7.875%, 4/15/27 (144A) | 338,781 | ||||
Total Aerospace & Defense | $502,917 | |||||
Airlines — 0.3% | ||||||
70,000 | American Airlines Group, Inc. Pass-Through Trust Series B, 3.95%, 7/11/30 | $ 61,656 | ||||
125,000 | American Airlines, Inc./AAdvantage Loyalty IP, Ltd., 5.50%, 4/20/26 (144A) | 123,563 | ||||
Total Airlines | $185,219 | |||||
Auto Manufacturers — 2.8% | ||||||
200,000 | Ford Motor Credit Co. LLC, 3.625%, 6/17/31 | $ 173,000 | ||||
612,000 | Ford Motor Credit Co. LLC, 3.815%, 11/2/27 | 564,952 | ||||
540,000 | Ford Motor Credit Co. LLC, 4.125%, 8/17/27 | 511,650 | ||||
256,000 | JB Poindexter & Co., Inc., 7.125%, 4/15/26 (144A) | 253,596 | ||||
Total Auto Manufacturers | $1,503,198 | |||||
Auto Parts & Equipment — 0.8% | ||||||
475,000 | Dealer Tire LLC/DT Issuer LLC, 8.00%, 2/1/28 (144A) | $ 438,188 | ||||
Total Auto Parts & Equipment | $438,188 | |||||
Banks — 0.7% | ||||||
125,000 | Freedom Mortgage Corp., 6.625%, 1/15/27 (144A) | $ 107,308 | ||||
317,000 | Freedom Mortgage Corp., 8.25%, 4/15/25 (144A) | 294,456 | ||||
Total Banks | $401,764 |
1Pioneer Corporate High Yield Fund | | 5/31/22
Principal Amount USD ($) | Value | |||||
Biotechnology — 0.6% | ||||||
335,000 | Grifols Escrow Issuer SA, 4.75%, 10/15/28 (144A) | $ 306,106 | ||||
Total Biotechnology | $306,106 | |||||
Building Materials — 2.6% | ||||||
260,000 | Builders FirstSource, Inc., 4.25%, 2/1/32 (144A) | $ 231,322 | ||||
450,000 | Cornerstone Building Brands, Inc., 6.125%, 1/15/29 (144A) | 334,399 | ||||
613,000 | Koppers, Inc., 6.00%, 2/15/25 (144A) | 591,545 | ||||
155,000 | Oscar AcquisitionCo LLC/Oscar Finance, Inc., 9.50%, 4/15/30 (144A) | 137,950 | ||||
145,000 | Patrick Industries, Inc., 7.50%, 10/15/27 (144A) | 143,550 | ||||
Total Building Materials | $1,438,766 | |||||
Chemicals — 3.3% | ||||||
230,000 | LSF11 A5 HoldCo LLC, 6.625%, 10/15/29 (144A) | $ 196,383 | ||||
146,000 | Olin Corp., 5.00%, 2/1/30 | 142,715 | ||||
650,000 | Schweitzer-Mauduit International, Inc., 6.875%, 10/1/26 (144A) | 578,500 | ||||
200,000 | SCIL IV LLC/SCIL USA Holdings LLC, 5.375%, 11/1/26 (144A) | 187,566 | ||||
370,000 | Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc., 5.125%, 4/1/29 (144A) | 314,050 | ||||
408,000 | Tronox, Inc., 4.625%, 3/15/29 (144A) | 374,364 | ||||
Total Chemicals | $1,793,578 | |||||
Commercial Services — 5.6% | ||||||
20,000 | Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.625%, 7/15/26 (144A) | $ 19,821 | ||||
275,000 | Allied Universal Holdco LLC/Allied Universal Finance Corp., 9.75%, 7/15/27 (144A) | 257,873 | ||||
209,000 | APX Group, Inc., 5.75%, 7/15/29 (144A) | 174,670 | ||||
478,000 | APX Group, Inc., 6.75%, 2/15/27 (144A) | 482,302 | ||||
80,000 | Brink's Co., 5.50%, 7/15/25 (144A) | 79,950 | ||||
692,000 | Garda World Security Corp., 4.625%, 2/15/27 (144A) | 622,639 | ||||
105,000 | HealthEquity, Inc., 4.50%, 10/1/29 (144A) | 97,912 | ||||
190,000 | NESCO Holdings II, Inc., 5.50%, 4/15/29 (144A) | 171,950 | ||||
115,000 | Nielsen Finance LLC/Nielsen Finance Co., 4.50%, 7/15/29 (144A) | 108,662 | ||||
95,000 | Nielsen Finance LLC/Nielsen Finance Co., 4.75%, 7/15/31 (144A) | 90,962 | ||||
295,000 | PECF USS Intermediate Holding III Corp., 8.00%, 11/15/29 (144A) | 247,800 | ||||
35,000 | Prime Security Services Borrower LLC/Prime Finance, Inc., 5.25%, 4/15/24 (144A) | 34,956 |
Pioneer Corporate High Yield Fund | | 5/31/222
Schedule of Investments | 5/31/22
(unaudited) (continued)
Principal Amount USD ($) | Value | |||||
Commercial Services — (continued) | ||||||
420,000 | Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 1/15/28 (144A) | $ 386,736 | ||||
300,000 | Sotheby's, 7.375%, 10/15/27 (144A) | 292,991 | ||||
Total Commercial Services | $3,069,224 | |||||
Computers — 2.1% | ||||||
279,000 | Diebold Nixdorf, Inc., 9.375%, 7/15/25 (144A) | $ 208,290 | ||||
329,000 | KBR, Inc., 4.75%, 9/30/28 (144A) | 305,147 | ||||
540,000 | NCR Corp., 5.00%, 10/1/28 (144A) | 508,999 | ||||
150,000 | NCR Corp., 5.25%, 10/1/30 (144A) | 138,429 | ||||
Total Computers | $1,160,865 | |||||
Diversified Financial Services — 4.6% | ||||||
436,886(a) | Avation Capital SA, 8.25% (9.00% PIK 8.25% Cash), 10/31/26 (144A) | $ 349,510 | ||||
65,000 | Bread Financial Holdings, Inc., 4.75%, 12/15/24 (144A) | 61,552 | ||||
250,000 | Bread Financial Holdings, Inc., 7.00%, 1/15/26 (144A) | 244,557 | ||||
429,165(a) | Global Aircraft Leasing Co., Ltd., 6.50% (7.25% PIK 6.50% Cash), 9/15/24 (144A) | 346,551 | ||||
240,000 | Nationstar Mortgage Holdings, Inc., 6.00%, 1/15/27 (144A) | 232,776 | ||||
242,000 | Provident Funding Associates LP/PFG Finance Corp., 6.375%, 6/15/25 (144A) | 231,110 | ||||
201,000 | United Wholesale Mortgage LLC, 5.50%, 4/15/29 (144A) | 176,506 | ||||
305,000 | United Wholesale Mortgage LLC, 5.75%, 6/15/27 (144A) | 275,554 | ||||
560,000 | VistaJet Malta Finance Plc/XO Management Holding, Inc., 6.375%, 2/1/30 (144A) | 476,000 | ||||
125,000 | VistaJet Malta Finance Plc/XO Management Holding, Inc., 7.875%, 5/1/27 (144A) | 117,584 | ||||
Total Diversified Financial Services | $2,511,700 | |||||
Electric — 4.0% | ||||||
275,000 | Calpine Corp., 4.625%, 2/1/29 (144A) | $ 243,375 | ||||
70,000 | Calpine Corp., 5.125%, 3/15/28 (144A) | 65,328 | ||||
215,000 | Clearway Energy Operating LLC, 3.75%, 2/15/31 (144A) | 189,415 | ||||
85,000 | Clearway Energy Operating LLC, 3.75%, 1/15/32 (144A) | 72,454 | ||||
105,000 | Leeward Renewable Energy Operations LLC, 4.25%, 7/1/29 (144A) | 91,866 | ||||
135,000 | NRG Energy, Inc., 3.375%, 2/15/29 (144A) | 120,141 | ||||
195,000 | NRG Energy, Inc., 3.625%, 2/15/31 (144A) | 171,112 | ||||
290,000 | NRG Energy, Inc., 3.875%, 2/15/32 (144A) | 254,779 |
3Pioneer Corporate High Yield Fund | | 5/31/22
Principal Amount USD ($) | Value | |||||
Electric — (continued) | ||||||
84,508 | NSG Holdings LLC/NSG Holdings, Inc., 7.75%, 12/15/25 (144A) | $ 84,508 | ||||
55,000 | Vistra Operations Co. LLC, 4.375%, 5/1/29 (144A) | 51,409 | ||||
830,000 | Vistra Operations Co. LLC, 5.625%, 2/15/27 (144A) | 830,415 | ||||
Total Electric | $2,174,802 | |||||
Electrical Components & Equipments — 1.1% | ||||||
253,000 | Energizer Holdings, Inc., 4.75%, 6/15/28 (144A) | $ 223,273 | ||||
30,000 | Energizer Holdings, Inc., 6.50%, 12/31/27 (144A) | 28,315 | ||||
310,000 | WESCO Distribution, Inc., 7.125%, 6/15/25 (144A) | 322,586 | ||||
Total Electrical Components & Equipments | $574,174 | |||||
Electronics — 0.4% | ||||||
180,000 | II-VI, Inc., 5.00%, 12/15/29 (144A) | $ 169,783 | ||||
80,000 | TTM Technologies, Inc., 4.00%, 3/1/29 (144A) | 70,776 | ||||
Total Electronics | $240,559 | |||||
Energy-Alternate Sources — 0.6% | ||||||
300,000 | Renewable Energy Group, Inc., 5.875%, 6/1/28 (144A) | $ 318,711 | ||||
Total Energy-Alternate Sources | $318,711 | |||||
Engineering & Construction — 1.5% | ||||||
607,551 | Artera Services LLC, 9.033%, 12/4/25 (144A) | $ 479,965 | ||||
225,000 | Promontoria Holding 264 BV, 7.875%, 3/1/27 (144A) | 209,823 | ||||
160,000 | TopBuild Corp., 4.125%, 2/15/32 (144A) | 140,000 | ||||
Total Engineering & Construction | $829,788 | |||||
Entertainment — 1.9% | ||||||
235,000 | CDI Escrow Issuer, Inc., 5.75%, 4/1/30 (144A) | $ 230,298 | ||||
430,000 | Mohegan Gaming & Entertainment, 8.00%, 2/1/26 (144A) | 397,539 | ||||
110,000 | Scientific Games Holdings LP/Scientific Games US FinCo, Inc., 6.625%, 3/1/30 (144A) | 102,040 | ||||
350,000 | SeaWorld Parks & Entertainment, Inc., 5.25%, 8/15/29 (144A) | 313,250 | ||||
Total Entertainment | $1,043,127 | |||||
Environmental Control — 1.1% | ||||||
130,000 | GFL Environmental, Inc., 4.00%, 8/1/28 (144A) | $ 116,768 | ||||
270,000 | GFL Environmental, Inc., 4.375%, 8/15/29 (144A) | 240,975 | ||||
201,000 | Tervita Corp., 11.00%, 12/1/25 (144A) | 221,100 | ||||
Total Environmental Control | $578,843 |
Pioneer Corporate High Yield Fund | | 5/31/224
Schedule of Investments | 5/31/22
(unaudited) (continued)
Principal Amount USD ($) | Value | |||||
Food — 2.4% | ||||||
701,000 | FAGE International SA/FAGE USA Dairy Industry, Inc., 5.625%, 8/15/26 (144A) | $ 620,175 | ||||
280,000 | Lamb Weston Holdings, Inc., 4.125%, 1/31/30 (144A) | 259,350 | ||||
403,000 | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food, Inc./Simmons Feed, 4.625%, 3/1/29 (144A) | 362,450 | ||||
95,000 | US Foods, Inc., 4.625%, 6/1/30 (144A) | 87,210 | ||||
Total Food | $1,329,185 | |||||
Forest Products & Paper — 1.6% | ||||||
344,000 | Clearwater Paper Corp., 4.75%, 8/15/28 (144A) | $ 309,538 | ||||
334,000 | Mercer International, Inc., 5.125%, 2/1/29 | 305,710 | ||||
259,000 | Sylvamo Corp., 7.00%, 9/1/29 (144A) | 249,050 | ||||
Total Forest Products & Paper | $864,298 | |||||
Healthcare-Products — 0.4% | ||||||
255,000 | Mozart Debt Merger Sub, Inc., 3.875%, 4/1/29 (144A) | $ 230,456 | ||||
Total Healthcare-Products | $230,456 | |||||
Healthcare-Services — 2.8% | ||||||
229,000 | LifePoint Health, Inc., 5.375%, 1/15/29 (144A) | $ 192,360 | ||||
318,000 | Prime Healthcare Services, Inc., 7.25%, 11/1/25 (144A) | 303,690 | ||||
54,000 | RegionalCare Hospital Partners Holdings Inc / LifePoint Health, Inc., 9.75%, 12/1/26 (144A) | 54,938 | ||||
70,000 | Surgery Center Holdings, Inc., 6.75%, 7/1/25 (144A) | 66,492 | ||||
423,000 | Surgery Center Holdings, Inc., 10.00%, 4/15/27 (144A) | 427,389 | ||||
260,000 | US Acute Care Solutions LLC, 6.375%, 3/1/26 (144A) | 246,690 | ||||
353,000 | US Renal Care, Inc., 10.625%, 7/15/27 (144A) | 258,085 | ||||
Total Healthcare-Services | $1,549,644 | |||||
Home Builders — 0.6% | ||||||
157,000 | KB Home, 4.00%, 6/15/31 | $ 135,609 | ||||
205,000 | M/I Homes, Inc., 3.95%, 2/15/30 | 167,870 | ||||
Total Home Builders | $303,479 | |||||
Internet — 0.7% | ||||||
390,000 | Twitter, Inc., 5.00%, 3/1/30 (144A) | $ 387,075 | ||||
Total Internet | $387,075 | |||||
Iron & Steel — 2.4% | ||||||
290,000 | Carpenter Technology Corp., 7.625%, 3/15/30 | $ 286,326 | ||||
366,000 | Cleveland-Cliffs, Inc., 6.75%, 3/15/26 (144A) | 381,555 | ||||
125,000 | Commercial Metals Co., 4.375%, 3/15/32 | 109,890 | ||||
125,000 | Mineral Resources, Ltd., 8.00%, 11/1/27 (144A) | 128,801 |
5Pioneer Corporate High Yield Fund | | 5/31/22
Principal Amount USD ($) | Value | |||||
Iron & Steel — (continued) | ||||||
135,000 | Mineral Resources, Ltd., 8.50%, 5/1/30 (144A) | $ 136,899 | ||||
360,000 | TMS International Corp., 6.25%, 4/15/29 (144A) | 287,797 | ||||
Total Iron & Steel | $1,331,268 | |||||
Leisure Time — 2.5% | ||||||
50,000 | Carnival Corp., 7.625%, 3/1/26 (144A) | $ 46,938 | ||||
EUR100,000 | Carnival Corp., 7.625%, 3/1/26 (144A) | 100,517 | ||||
115,000 | Carnival Corp., 10.50%, 2/1/26 (144A) | 123,798 | ||||
290,000 | NCL Corp., Ltd., 5.875%, 3/15/26 (144A) | 259,556 | ||||
55,000 | NCL Corp., Ltd., 7.75%, 2/15/29 (144A) | 49,431 | ||||
75,000 | NCL Finance, Ltd., 6.125%, 3/15/28 (144A) | 63,055 | ||||
85,000 | Royal Caribbean Cruises, Ltd., 5.50%, 4/1/28 (144A) | 71,732 | ||||
360,000 | Royal Caribbean Cruises, Ltd., 9.125%, 6/15/23 (144A) | 367,200 | ||||
28,000 | Royal Caribbean Cruises, Ltd., 11.50%, 6/1/25 (144A) | 30,351 | ||||
290,000 | Viking Ocean Cruises Ship VII, Ltd., 5.625%, 2/15/29 (144A) | 249,400 | ||||
Total Leisure Time | $1,361,978 | |||||
Lodging — 0.4% | ||||||
210,000 | Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc, 5.00%, 6/1/29 (144A) | $ 195,296 | ||||
Total Lodging | $195,296 | |||||
Media — 3.5% | ||||||
355,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 6/1/33 (144A) | $ 305,508 | ||||
121,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 3/1/30 (144A) | 112,031 | ||||
160,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 2/1/32 (144A) | 142,800 | ||||
800,000 | CSC Holdings LLC, 4.625%, 12/1/30 (144A) | 628,320 | ||||
362,000 | McGraw-Hill Education, Inc., 8.00%, 8/1/29 (144A) | 313,127 | ||||
145,000 | News Corp., 3.875%, 5/15/29 (144A) | 133,584 | ||||
50,000 | News Corp., 5.125%, 2/15/32 (144A) | 47,625 | ||||
225,000 | VZ Secured Financing BV, 5.00%, 1/15/32 (144A) | 203,555 | ||||
Total Media | $1,886,550 | |||||
Metal Fabricate/Hardware — 0.2% | ||||||
130,000 | Park-Ohio Industries, Inc., 6.625%, 4/15/27 | $ 107,250 | ||||
Total Metal Fabricate/Hardware | $107,250 | |||||
Mining — 2.5% | ||||||
191,000 | Coeur Mining, Inc., 5.125%, 2/15/29 (144A) | $ 154,710 | ||||
421,000 | Eldorado Gold Corp., 6.25%, 9/1/29 (144A) | 377,130 |
Pioneer Corporate High Yield Fund | | 5/31/226
Schedule of Investments | 5/31/22
(unaudited) (continued)
Principal Amount USD ($) | Value | |||||
Mining — (continued) | ||||||
265,000 | First Quantum Minerals, Ltd., 7.50%, 4/1/25 (144A) | $ 267,080 | ||||
220,000 | FMG Resources August 2006 Pty, Ltd., 6.125%, 4/15/32 (144A) | 217,800 | ||||
339,000 | IAMGOLD Corp., 5.75%, 10/15/28 (144A) | 238,224 | ||||
100,000 | Novelis Corp., 3.875%, 8/15/31 (144A) | 87,250 | ||||
Total Mining | $1,342,194 | |||||
Oil & Gas — 10.7% | ||||||
302,000 | Aethon United BR LP/Aethon United Finance Corp., 8.25%, 2/15/26 (144A) | $ 307,348 | ||||
592,000 | Baytex Energy Corp., 8.75%, 4/1/27 (144A) | 621,600 | ||||
302,000 | Energean Plc, 6.50%, 4/30/27 (144A) | 284,635 | ||||
365,000 | Harbour Energy Plc, 5.50%, 10/15/26 (144A) | 346,750 | ||||
90,000 | Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, 4/15/30 (144A) | 87,525 | ||||
90,000 | Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 4/15/32 (144A) | 87,615 | ||||
262,000 | International Petroleum Corp., 7.25%, 2/1/27 (144A) | 256,105 | ||||
200,000 | Kosmos Energy, Ltd., 7.75%, 5/1/27 (144A) | 190,750 | ||||
275,000 | MEG Energy Corp., 5.875%, 2/1/29 (144A) | 272,938 | ||||
50,000 | Nabors Industries, Inc., 7.375%, 5/15/27 (144A) | 50,420 | ||||
182,000 | Nabors Industries, Ltd., 7.50%, 1/15/28 (144A) | 171,080 | ||||
300,000 | Neptune Energy Bondco Plc, 6.625%, 5/15/25 (144A) | 297,537 | ||||
475,000 | Occidental Petroleum Corp., 4.40%, 4/15/46 | 427,500 | ||||
420,000 | Parkland Corp., 4.625%, 5/1/30 (144A) | 378,760 | ||||
66,000 | Precision Drilling Corp., 6.875%, 1/15/29 (144A) | 63,690 | ||||
210,000 | Shelf Drilling Holdings, Ltd., 8.875%, 11/15/24 (144A) | 210,000 | ||||
140,000 | Southwestern Energy Co., 4.75%, 2/1/32 | 136,354 | ||||
324,000 | Southwestern Energy Co., 5.375%, 3/15/30 | 329,224 | ||||
350,000 | Strathcona Resources, Ltd., 6.875%, 8/1/26 (144A) | 338,304 | ||||
360,000 | Tap Rock Resources LLC, 7.00%, 10/1/26 (144A) | 357,890 | ||||
133,775 | Transocean Sentry, Ltd., 5.375%, 5/15/23 (144A) | 129,739 | ||||
260,000 | Tullow Oil Plc, 10.25%, 5/15/26 (144A) | 252,671 | ||||
270,000 | Vermilion Energy, Inc., 6.875%, 5/1/30 (144A) | 258,800 | ||||
Total Oil & Gas | $5,857,235 | |||||
Oil & Gas Services — 0.1% | ||||||
70,000 | Exterran Energy Solutions LP/EES Finance Corp., 8.125%, 5/1/25 | $ 69,983 | ||||
Total Oil & Gas Services | $69,983 | |||||
Packaging & Containers — 1.2% | ||||||
125,000 | Crown Cork & Seal Co., Inc., 7.375%, 12/15/26 | $ 129,375 |
7Pioneer Corporate High Yield Fund | | 5/31/22
Principal Amount USD ($) | Value | |||||
Packaging & Containers — (continued) | ||||||
189,000 | OI European Group BV, 4.75%, 2/15/30 (144A) | $ 166,093 | ||||
195,000 | Sealed Air Corp., 5.00%, 4/15/29 (144A) | 191,828 | ||||
164,000 | TriMas Corp., 4.125%, 4/15/29 (144A) | 149,240 | ||||
Total Packaging & Containers | $636,536 | |||||
Pharmaceuticals — 2.9% | ||||||
155,000 | AdaptHealth LLC, 5.125%, 3/1/30 (144A) | $ 133,675 | ||||
350,000 | Owens & Minor, Inc., 6.625%, 4/1/30 (144A) | 346,062 | ||||
270,000 | P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25 (144A) | 225,356 | ||||
185,000 | Par Pharmaceutical, Inc., 7.50%, 4/1/27 (144A) | 144,763 | ||||
467,000 | Teva Pharmaceutical Finance Netherlands III BV, 2.80%, 7/21/23 | 463,497 | ||||
260,000 | Teva Pharmaceutical Finance Netherlands III BV, 5.125%, 5/9/29 | 238,306 | ||||
Total Pharmaceuticals | $1,551,659 | |||||
Pipelines — 4.2% | ||||||
452,000 | CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 6/15/31 (144A) | $ 428,131 | ||||
330,000 | Delek Logistics Partners LP/Delek Logistics Finance Corp., 7.125%, 6/1/28 (144A) | 320,229 | ||||
405,000(b)(c) | Energy Transfer LP, Series G, 7.125% (5 Year CMT Index + 531 bps) | 364,253 | ||||
6,000 | EnLink Midstream LLC, 5.375%, 6/1/29 | 5,810 | ||||
357,000 | EnLink Midstream Partners LP, 5.60%, 4/1/44 | 289,473 | ||||
50,000 | EQM Midstream Partners LP, 7.50%, 6/1/27 (144A) | 50,000 | ||||
50,000 | EQM Midstream Partners LP, 7.50%, 6/1/30 (144A) | 50,000 | ||||
185,000 | Genesis Energy LP/Genesis Energy Finance Corp., 8.00%, 1/15/27 | 182,482 | ||||
235,000 | Golar LNG, Ltd., 7.00%, 10/20/25 (144A) | 225,600 | ||||
369,000 | Harvest Midstream I LP, 7.50%, 9/1/28 (144A) | 370,186 | ||||
Total Pipelines | $2,286,164 | |||||
Real Estate — 1.0% | ||||||
270,000 | Kennedy-Wilson, Inc., 4.75%, 2/1/30 | $ 240,735 | ||||
325,000 | Realogy Group LLC/Realogy Co.-Issuer Corp., 5.25%, 4/15/30 (144A) | 282,641 | ||||
Total Real Estate | $523,376 | |||||
REITs — 2.9% | ||||||
310,000 | HAT Holdings I LLC/HAT Holdings II LLC, 3.375%, 6/15/26 (144A) | $ 286,417 | ||||
50,000 | iStar, Inc., 4.25%, 8/1/25 | 49,312 |
Pioneer Corporate High Yield Fund | | 5/31/228
Schedule of Investments | 5/31/22
(unaudited) (continued)
Principal Amount USD ($) | Value | |||||
REITs — (continued) | ||||||
452,000 | iStar, Inc., 4.75%, 10/1/24 | $ 450,294 | ||||
66,000 | Starwood Property Trust, Inc., 3.75%, 12/31/24 (144A) | 63,569 | ||||
610,000 | Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 7.875%, 2/15/25 (144A) | 626,226 | ||||
95,000 | Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 6.50%, 2/15/29 (144A) | 80,275 | ||||
Total REITs | $1,556,093 | |||||
Retail — 3.5% | ||||||
80,000 | AAG FH LP/AAG FH Finco, Inc., 9.75%, 7/15/24 (144A) | $ 90,432 | ||||
190,000 | Bath & Body Works, Inc., 6.625%, 10/1/30 (144A) | 189,661 | ||||
220,000 | Beacon Roofing Supply, Inc., 4.125%, 5/15/29 (144A) | 193,654 | ||||
90,000 | Gap, Inc., 3.625%, 10/1/29 (144A) | 65,700 | ||||
50,000 | Gap, Inc., 3.875%, 10/1/31 (144A) | 35,625 | ||||
160,000 | Group 1 Automotive, Inc., 4.00%, 8/15/28 (144A) | 145,712 | ||||
180,000 | Ken Garff Automotive LLC, 4.875%, 9/15/28 (144A) | 155,651 | ||||
435,000 | LCM Investments Holdings II LLC, 4.875%, 5/1/29 (144A) | 370,837 | ||||
235,000 | Murphy Oil USA, Inc., 3.75%, 2/15/31 (144A) | 212,203 | ||||
314,000 | Party City Holdings, Inc., 8.75%, 2/15/26 (144A) | 237,855 | ||||
50,000 | SRS Distribution, Inc., 6.125%, 7/1/29 (144A) | 42,875 | ||||
206,000 | Staples, Inc., 7.50%, 4/15/26 (144A) | 190,684 | ||||
Total Retail | $1,930,889 | |||||
Software — 1.2% | ||||||
440,000 | Minerva Merger Sub, Inc., 6.50%, 2/15/30 (144A) | $ 407,000 | ||||
340,000 | Rackspace Technology Global, Inc., 5.375%, 12/1/28 (144A) | 268,818 | ||||
Total Software | $675,818 | |||||
Telecommunications — 5.2% | ||||||
850,000 | Altice France Holding SA, 6.00%, 2/15/28 (144A) | $ 707,625 | ||||
185,000 | CommScope, Inc., 4.75%, 9/1/29 (144A) | 162,699 | ||||
359,000 | CommScope, Inc., 8.25%, 3/1/27 (144A) | 313,946 | ||||
687,000 | LogMeIn, Inc., 5.50%, 9/1/27 (144A) | 550,170 | ||||
445,000 | Lumen Technologies, Inc., 4.50%, 1/15/29 (144A) | 365,646 | ||||
275,000 | Plantronics, Inc., 4.75%, 3/1/29 (144A) | 279,128 | ||||
500,000 | Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 8/15/28 (144A) | 459,122 | ||||
Total Telecommunications | $2,838,336 | |||||
Transportation — 3.4% | ||||||
450,000 | Carriage Purchaser, Inc., 7.875%, 10/15/29 (144A) | $ 357,862 | ||||
219,000 | Danaos Corp., 8.50%, 3/1/28 (144A) | 227,561 |
9Pioneer Corporate High Yield Fund | | 5/31/22
Principal Amount USD ($) | Value | |||||
Transportation — (continued) | ||||||
110,000 | Seaspan Corp., 5.50%, 8/1/29 (144A) | $ 98,335 | ||||
300,000 | Seaspan Corp., 6.50%, 4/29/26 (144A) | 294,510 | ||||
858,000 | Western Global Airlines LLC, 10.375%, 8/15/25 (144A) | 866,580 | ||||
Total Transportation | $1,844,848 | |||||
Trucking & Leasing — 0.5% | ||||||
275,000 | Fortress Transportation and Infrastructure Investors LLC, 9.75%, 8/1/27 (144A) | $ 279,386 | ||||
Total Trucking & Leasing | $279,386 | |||||
Total Corporate Bonds (Cost $55,715,919) | $51,507,407 | |||||
Shares | ||||||
Right/Warrant — 0.0%† of Net Assets | ||||||
Aerospace & Defense — 0.0%† | ||||||
7,525(d) | Avation Plc, 1/1/59 | $ — | ||||
Total Aerospace & Defense | $— | |||||
Total Right/Warrant (Cost $—) | $— | |||||
Face Amount USD ($) | ||||||
Insurance-Linked Securities — 0.0%† of Net Assets# | ||||||
Collateralized Reinsurance — 0.0%† | ||||||
Multiperil – Worldwide — 0.0%† | ||||||
250,000(e)+ | Cypress Re 2017, 1/31/23 | $ 25 | ||||
250,000(e)(f)+ | Resilience Re, 5/1/23 | — | ||||
$25 | ||||||
Total Collateralized Reinsurance | $25 | |||||
Reinsurance Sidecars — 0.0%† | ||||||
Multiperil – U.S. — 0.0%† | ||||||
1,500,000(g)+ | Harambee Re 2018, 12/31/22 | $ — | ||||
Multiperil – Worldwide — 0.0%† | ||||||
41,791(e)+ | Berwick Re 2018-1, 12/31/22 | $ 3,230 | ||||
29,857(e)+ | Berwick Re 2019-1, 12/31/22 | 3,568 | ||||
1,500,000(e)+ | Versutus Re 2018, 12/31/22 | — |
Pioneer Corporate High Yield Fund | | 5/31/2210
Schedule of Investments | 5/31/22
(unaudited) (continued)
Face Amount USD ($) | Value | |||||
Multiperil – Worldwide — (continued) | ||||||
250,000(g)+ | Viribus Re 2018, 12/31/22 | $ — | ||||
106,153(g)+ | Viribus Re 2019, 12/31/22 | 1,422 | ||||
$8,220 | ||||||
Total Reinsurance Sidecars | $8,220 | |||||
Total Insurance-Linked Securities (Cost $62,205) | $8,245 | |||||
Shares | ||||||
SHORT TERM INVESTMENTS — 4.2% of Net Assets | ||||||
Open-End Fund — 4.2% | ||||||
2,291,211(h) | Dreyfus Government Cash Management, Institutional Shares, 0.70% | $ 2,291,211 | ||||
$2,291,211 | ||||||
TOTAL SHORT TERM INVESTMENTS (Cost $2,291,211) | $2,291,211 | |||||
TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 98.6% (Cost $58,069,335) | $53,806,863 | |||||
OTHER ASSETS AND LIABILITIES — 1.4% | $779,416 | |||||
net assets — 100.0% | $54,586,279 | |||||
bps | Basis Points. |
CMT | Constant Maturity Treasury Index. |
REIT | Real Estate Investment Trust. |
(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 May 31, 2022, the value of these securities amounted to $45,564,181, or 83.5% of net assets. |
(a) | Payment-in-kind (PIK) security which may pay interest in the form of additional principal amount. |
(b) | Security is perpetual in nature and has no stated maturity date. |
(c) | The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at May 31, 2022. |
(d) | Non-income producing security. |
(e) | Issued as participation notes. |
(f) | Security issued with a zero coupon. Income is recognized through accretion of discount. |
11Pioneer Corporate High Yield Fund | | 5/31/22
(g) | Issued as preference shares. |
(h) | Rate periodically changes. Rate disclosed is the 7-day yield at May 31, 2022. |
† | Amount rounds to less than 0.1%. |
+ | Security that used significant unobservable inputs to determine its value. |
# | Securities are restricted as to resale. |
Restricted Securities | Acquisition date | Cost | Value |
Berwick Re 2018-1 | 1/29/2018 | $6,105 | $3,230 |
Berwick Re 2019-1 | 12/31/2018 | 3,568 | 3,568 |
Cypress Re 2017 | 1/24/2017 | 840 | 25 |
Harambee Re 2018 | 12/19/2017 | 31,843 | — |
Resilience Re | 2/8/2017 | 124 | — |
Versutus Re 2018 | 12/20/2017 | — | — |
Viribus Re 2018 | 12/22/2017 | 19,725 | — |
Viribus Re 2019 | 3/25/2019 | — | 1,422 |
Total Restricted Securities | $8,245 | ||
% of Net assets | 0.0%† |
† | Amount rounds to less than 0.1%. |
SWAP CONTRACTS
CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS – BUY PROTECTION
Notional Amount ($)(1) | Reference Obligation/Index | Pay/ Receive(2) | Annual Fixed Rate | Expiration Date | Premiums Paid | Unrealized (Depreciation) | Market Value | |
6,200,000 | Markit CDX North America High Yield Index Series 38 | Pay | 5.00% | 6/21/27 | $62,000 | $(224,762) | $(162,762) | |
TOTAL CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS – BUY PROTECTION | $62,000 | $(224,762) | $(162,762) | |||||
TOTAL SWAP CONTRACTS | $62,000 | $(224,762) | $(162,762) |
(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) | Pays quarterly. |
Principal amounts are denominated in U.S. dollars (“USD”) unless otherwise noted.
EUR | — Euro |
Pioneer Corporate High Yield Fund | | 5/31/2212
Schedule of Investments | 5/31/22
(unaudited) (continued)
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 | – | unadjusted 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 May 31, 2022, in valuing the Fund's investments:
Level 1 | Level 2 | Level 3 | Total | |
Corporate Bonds | $— | $51,507,407 | $— | $51,507,407 |
Right/Warrant | —* | — | — | —* |
Insurance-Linked Securities | ||||
Collateralized Reinsurance | ||||
Multiperil – Worldwide | — | — | 25 | 25 |
Reinsurance Sidecars | ||||
Multiperil – U.S. | — | — | —* | —* |
Multiperil – Worldwide | — | — | 8,220 | 8,220 |
Open-End Fund | 2,291,211 | — | — | 2,291,211 |
Total Investments in Securities | $2,291,211 | $51,507,407 | $8,245 | $53,806,863 |
Other Financial Instruments | ||||
Swap contracts, at value | $— | $(162,762) | $— | $(162,762) |
Total Other Financial Instruments | $— | $(162,762) | $— | $(162,762) |
* | Securities valued at $0. |
13Pioneer Corporate High Yield Fund | | 5/31/22
The following is a reconciliation of assets valued using significant unobservable inputs (Level 3):
Common Stocks | Insurance- Linked Securities | Total | |
Balance as of 8/31/21 | $31,806 | $113,722 | $145,528 |
Realized gain (loss) | 10,544 | (148,443) | (137,899) |
Changed in unrealized appreciation (depreciation) | (6,696) | 92,394 | 85,698 |
Accrued discounts/premiums | — | (43,767) | (43,767) |
Purchases | — | — | — |
Sales | (35,654) | (5,661) | (41,315) |
Transfers in to Level 3* | — | — | — |
Transfers out of Level 3* | — | — | — |
Balance as of 5/31/22 | $— | $8,245 | $8,245 |
* | Transfers are calculated on the beginning of period value. During the nine months ended May 31, 2022, there were no transfers in or out of Level 3. | ||
Net change in unrealized appreciation (depreciation) of Level 3 investments still held and considered Level 3 at May 31, 2022: | $ 16,902 |
Pioneer Corporate High Yield Fund | | 5/31/2214