Pioneer Corporate
High Yield Fund
High Yield Fund
Schedule of Investments | May 31, 2023
A: RCRAX | C: RCRCX | Y: RCRYX |
Schedule of Investments | 5/31/23
(unaudited)
Principal Amount USD ($) | Value | |||||
UNAFFILIATED ISSUERS — 99.5% | ||||||
Corporate Bonds — 95.3% of Net Assets | ||||||
Advertising — 3.1% | ||||||
275,000 | Clear Channel Outdoor Holdings, Inc., 7.50%, 6/1/29 (144A) | $ 195,864 | ||||
170,000 | Clear Channel Outdoor Holdings, Inc., 7.75%, 4/15/28 (144A) | 126,643 | ||||
100,000 | Outfront Media Capital LLC/Outfront Media Capital Corp., 4.25%, 1/15/29 (144A) | 81,800 | ||||
380,000 | Outfront Media Capital LLC/Outfront Media Capital Corp., 6.25%, 6/15/25 (144A) | 378,577 | ||||
378,000 | Stagwell Global LLC, 5.625%, 8/15/29 (144A) | 324,409 | ||||
301,000 | Summer BC Bidco B LLC, 5.50%, 10/31/26 (144A) | 256,151 | ||||
Total Advertising | $1,363,444 | |||||
Aerospace & Defense — 0.7% | ||||||
110,000 | Bombardier, Inc., 7.875%, 4/15/27 (144A) | $ 108,757 | ||||
110,000 | Spirit AeroSystems, Inc., 9.375%, 11/30/29 (144A) | 117,163 | ||||
90,000 | Triumph Group, Inc., 9.00%, 3/15/28 (144A) | 91,165 | ||||
Total Aerospace & Defense | $317,085 | |||||
Airlines — 1.8% | ||||||
66,850 | American Airlines 2021-1 Class B Pass Through Trust, 3.95%, 7/11/30 | $ 58,475 | ||||
125,000 | American Airlines, Inc./AAdvantage Loyalty IP, Ltd., 5.50%, 4/20/26 (144A) | 122,675 | ||||
205,000 | Spirit Loyalty Cayman, Ltd./Spirit IP Cayman, Ltd., 8.00%, 9/20/25 (144A) | 207,594 | ||||
357,000 | VistaJet Malta Finance Plc/Vista Management Holding, Inc., 6.375%, 2/1/30 (144A) | 283,844 | ||||
120,000 | VistaJet Malta Finance Plc/Vista Management Holding, Inc., 9.50%, 6/1/28 (144A) | 109,838 | ||||
Total Airlines | $782,426 | |||||
Apparel — 0.3% | ||||||
115,000 | Hanesbrands, Inc., 9.00%, 2/15/31 (144A) | $ 115,012 | ||||
Total Apparel | $115,012 | |||||
Auto Manufacturers — 2.4% | ||||||
100,000 | Ford Motor Co., 6.10%, 8/19/32 | $ 93,998 | ||||
700,000 | Ford Motor Credit Co. LLC, 3.625%, 6/17/31 | 566,097 | ||||
230,000 | Ford Motor Credit Co. LLC, 4.125%, 8/17/27 | 207,766 | ||||
206,000 | JB Poindexter & Co., Inc., 7.125%, 4/15/26 (144A) | 196,050 | ||||
Total Auto Manufacturers | $1,063,911 | |||||
1Pioneer Corporate High Yield Fund | | 5/31/23
Principal Amount USD ($) | Value | |||||
Auto Parts & Equipment — 2.0% | ||||||
105,000 | Adient Global Holdings, Ltd., 7.00%, 4/15/28 (144A) | $ 106,111 | ||||
200,000 | Adient Global Holdings, Ltd., 8.25%, 4/15/31 (144A) | 199,828 | ||||
475,000 | Dealer Tire LLC/DT Issuer LLC, 8.00%, 2/1/28 (144A) | 434,867 | ||||
150,000 | ZF North America Capital, Inc., 7.125%, 4/14/30 (144A) | 151,255 | ||||
Total Auto Parts & Equipment | $892,061 | |||||
Banks — 0.7% | ||||||
317,000 | Freedom Mortgage Corp., 8.25%, 4/15/25 (144A) | $ 302,836 | ||||
Total Banks | $302,836 | |||||
Building Materials — 1.9% | ||||||
260,000 | Builders FirstSource, Inc., 4.25%, 2/1/32 (144A) | $ 223,376 | ||||
145,000 | Builders FirstSource, Inc., 6.375%, 6/15/32 (144A) | 142,661 | ||||
450,000 | Cornerstone Building Brands, Inc., 6.125%, 1/15/29 (144A) | 333,000 | ||||
155,000 | Knife River Holding Co., 7.75%, 5/1/31 (144A) | 155,884 | ||||
Total Building Materials | $854,921 | |||||
Chemicals — 3.9% | ||||||
650,000 | Mativ Holdings, Inc., 6.875%, 10/1/26 (144A) | $ 570,505 | ||||
111,000 | Olin Corp., 5.00%, 2/1/30 | 101,109 | ||||
490,000(a) | Olympus Water US Holding Corp., 9.75%, 11/15/28 (144A) | 486,325 | ||||
200,000 | SCIL IV LLC/SCIL USA Holdings LLC, 5.375%, 11/1/26 (144A) | 184,522 | ||||
370,000 | Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc., 5.125%, 4/1/29 (144A) | 200,207 | ||||
251,000 | Tronox, Inc., 4.625%, 3/15/29 (144A) | 203,733 | ||||
Total Chemicals | $1,746,401 | |||||
Commercial Services — 5.9% | ||||||
20,000 | Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.625%, 7/15/26 (144A) | $ 18,785 | ||||
275,000 | Allied Universal Holdco LLC/Allied Universal Finance Corp., 9.75%, 7/15/27 (144A) | 241,272 | ||||
232,000 | Brink's Co., 4.625%, 10/15/27 (144A) | 216,353 | ||||
80,000 | Brink's Co., 5.50%, 7/15/25 (144A) | 78,885 | ||||
692,000 | Garda World Security Corp., 4.625%, 2/15/27 (144A) | 631,989 | ||||
215,000 | Neptune Bidco US, Inc., 9.29%, 4/15/29 (144A) | 196,725 | ||||
190,000 | NESCO Holdings II, Inc., 5.50%, 4/15/29 (144A) | 167,924 | ||||
251,000 | PECF USS Intermediate Holding III Corp., 8.00%, 11/15/29 (144A) | 129,893 | ||||
27,000 | Prime Security Services Borrower LLC/Prime Finance, Inc., 5.25%, 4/15/24 (144A) | 26,735 |
Pioneer Corporate High Yield Fund | | 5/31/232
Schedule of Investments | 5/31/23
(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) | $ 385,763 | ||||
575,000 | Sotheby's, 7.375%, 10/15/27 (144A) | 503,855 | ||||
Total Commercial Services | $2,598,179 | |||||
Computers — 2.0% | ||||||
329,000 | KBR, Inc., 4.75%, 9/30/28 (144A) | $ 301,065 | ||||
540,000 | NCR Corp., 5.00%, 10/1/28 (144A) | 474,737 | ||||
150,000 | NCR Corp., 5.25%, 10/1/30 (144A) | 128,064 | ||||
Total Computers | $903,866 | |||||
Distribution/Wholesale — 0.3% | ||||||
45,000 | Ritchie Bros Holdings, Inc., 6.75%, 3/15/28 (144A) | $ 45,535 | ||||
70,000 | Ritchie Bros Holdings, Inc., 7.75%, 3/15/31 (144A) | 72,959 | ||||
Total Distribution/Wholesale | $118,494 | |||||
Diversified Financial Services — 5.1% | ||||||
245,376(b) | Avation Capital SA, 8.25% (9.00% PIK or 8.25% Cash), 10/31/26 (144A) | $ 212,304 | ||||
65,000 | Bread Financial Holdings, Inc., 4.75%, 12/15/24 (144A) | 60,953 | ||||
250,000 | Bread Financial Holdings, Inc., 7.00%, 1/15/26 (144A) | 227,500 | ||||
50,000(a) | GGAM Finance, Ltd., 7.75%, 5/15/26 (144A) | 49,438 | ||||
250,000(a) | GGAM Finance, Ltd., 8.00%, 6/15/28 (144A) | 245,312 | ||||
444,722(b) | Global Aircraft Leasing Co., Ltd., 6.50% (7.25% PIK or 6.50% Cash), 9/15/24 (144A) | 396,914 | ||||
240,000 | Nationstar Mortgage Holdings, Inc., 6.00%, 1/15/27 (144A) | 218,880 | ||||
226,000 | OneMain Finance Corp., 3.875%, 9/15/28 | 177,693 | ||||
242,000 | Provident Funding Associates LP/PFG Finance Corp., 6.375%, 6/15/25 (144A) | 211,145 | ||||
201,000 | United Wholesale Mortgage LLC, 5.50%, 4/15/29 (144A) | 167,835 | ||||
305,000 | United Wholesale Mortgage LLC, 5.75%, 6/15/27 (144A) | 275,067 | ||||
Total Diversified Financial Services | $2,243,041 | |||||
Electric — 2.7% | ||||||
215,000 | Clearway Energy Operating LLC, 3.75%, 2/15/31 (144A) | $ 180,350 | ||||
85,000 | Clearway Energy Operating LLC, 3.75%, 1/15/32 (144A) | 70,064 | ||||
153,000 | Leeward Renewable Energy Operations LLC, 4.25%, 7/1/29 (144A) | 134,640 | ||||
135,000 | NRG Energy, Inc., 3.375%, 2/15/29 (144A) | 111,296 | ||||
290,000 | NRG Energy, Inc., 3.875%, 2/15/32 (144A) | 225,116 | ||||
46,236 | NSG Holdings LLC/NSG Holdings, Inc., 7.75%, 12/15/25 (144A) | 45,774 | ||||
140,000 | Talen Energy Supply LLC, 8.625%, 6/1/30 (144A) | 142,492 |
3Pioneer Corporate High Yield Fund | | 5/31/23
Principal Amount USD ($) | Value | |||||
Electric — (continued) | ||||||
55,000 | Vistra Operations Co. LLC, 4.375%, 5/1/29 (144A) | $ 47,938 | ||||
257,000 | Vistra Operations Co. LLC, 5.625%, 2/15/27 (144A) | 247,185 | ||||
Total Electric | $1,204,855 | |||||
Electrical Components & Equipments — 1.3% | ||||||
253,000 | Energizer Holdings, Inc., 4.75%, 6/15/28 (144A) | $ 225,049 | ||||
30,000 | Energizer Holdings, Inc., 6.50%, 12/31/27 (144A) | 28,837 | ||||
310,000 | WESCO Distribution, Inc., 7.125%, 6/15/25 (144A) | 312,270 | ||||
Total Electrical Components & Equipments | $566,156 | |||||
Engineering & Construction — 1.3% | ||||||
242,000 | Arcosa, Inc., 4.375%, 4/15/29 (144A) | $ 218,450 | ||||
240,375 | Artera Services LLC, 9.033%, 12/4/25 (144A) | 205,522 | ||||
160,000 | TopBuild Corp., 4.125%, 2/15/32 (144A) | 134,317 | ||||
Total Engineering & Construction | $558,289 | |||||
Entertainment — 1.9% | ||||||
200,000 | Allwyn Entertainment Financing UK Plc, 7.875%, 4/30/29 (144A) | $ 197,674 | ||||
110,000 | Scientific Games Holdings LP/Scientific Games US FinCo, Inc., 6.625%, 3/1/30 (144A) | 96,699 | ||||
214,000 | Scientific Games International, Inc., 7.25%, 11/15/29 (144A) | 212,663 | ||||
350,000 | SeaWorld Parks & Entertainment, Inc., 5.25%, 8/15/29 (144A) | 313,715 | ||||
Total Entertainment | $820,751 | |||||
Environmental Control — 1.3% | ||||||
130,000 | GFL Environmental, Inc., 4.00%, 8/1/28 (144A) | $ 116,084 | ||||
270,000 | GFL Environmental, Inc., 4.375%, 8/15/29 (144A) | 239,656 | ||||
201,000 | Tervita Corp., 11.00%, 12/1/25 (144A) | 214,065 | ||||
Total Environmental Control | $569,805 | |||||
Food — 2.9% | ||||||
280,000 | Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 6.50%, 2/15/28 (144A) | $ 278,250 | ||||
701,000 | FAGE International SA/FAGE USA Dairy Industry, Inc., 5.625%, 8/15/26 (144A) | 662,433 | ||||
280,000 | Lamb Weston Holdings, Inc., 4.125%, 1/31/30 (144A) | 249,349 | ||||
95,000 | US Foods, Inc., 4.625%, 6/1/30 (144A) | 85,512 | ||||
Total Food | $1,275,544 | |||||
Pioneer Corporate High Yield Fund | | 5/31/234
Schedule of Investments | 5/31/23
(unaudited) (continued)
Principal Amount USD ($) | Value | |||||
Forest Products & Paper — 0.6% | ||||||
334,000 | Mercer International, Inc., 5.125%, 2/1/29 | $ 264,087 | ||||
Total Forest Products & Paper | $264,087 | |||||
Healthcare-Products — 0.5% | ||||||
255,000 | Medline Borrower LP, 3.875%, 4/1/29 (144A) | $ 219,926 | ||||
Total Healthcare-Products | $219,926 | |||||
Healthcare-Services — 2.7% | ||||||
229,000 | LifePoint Health, Inc., 5.375%, 1/15/29 (144A) | $ 114,014 | ||||
318,000 | Prime Healthcare Services, Inc., 7.25%, 11/1/25 (144A) | 298,262 | ||||
54,000 | RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/1/26 (144A) | 40,467 | ||||
36,000 | Surgery Center Holdings, Inc., 6.75%, 7/1/25 (144A) | 35,766 | ||||
247,000 | Surgery Center Holdings, Inc., 10.00%, 4/15/27 (144A) | 253,630 | ||||
110,000 | Tenet Healthcare Corp., 6.125%, 6/15/30 (144A) | 106,313 | ||||
260,000 | US Acute Care Solutions LLC, 6.375%, 3/1/26 (144A) | 220,350 | ||||
353,000 | US Renal Care, Inc., 10.625%, 7/15/27 (144A) | 105,017 | ||||
Total Healthcare-Services | $1,173,819 | |||||
Home Builders — 1.5% | ||||||
350,000 | Beazer Homes USA, Inc., 7.25%, 10/15/29 | $ 332,532 | ||||
157,000 | KB Home, 4.00%, 6/15/31 | 133,315 | ||||
205,000 | M/I Homes, Inc., 3.95%, 2/15/30 | 175,853 | ||||
Total Home Builders | $641,700 | |||||
Household Products/Wares — 0.7% | ||||||
400,000 | Spectrum Brands, Inc., 3.875%, 3/15/31 (144A) | $ 326,724 | ||||
Total Household Products/Wares | $326,724 | |||||
Internet — 0.5% | ||||||
241,000 | Cogent Communications Group, Inc., 7.00%, 6/15/27 (144A) | $ 231,579 | ||||
Total Internet | $231,579 | |||||
Iron & Steel — 2.3% | ||||||
290,000 | Carpenter Technology Corp., 7.625%, 3/15/30 | $ 291,450 | ||||
519,000 | Commercial Metals Co., 3.875%, 2/15/31 | 436,397 | ||||
360,000 | TMS International Corp., 6.25%, 4/15/29 (144A) | 284,573 | ||||
Total Iron & Steel | $1,012,420 | |||||
Leisure Time — 2.8% | ||||||
209,000 | Carnival Corp., 10.50%, 2/1/26 (144A) | $ 217,178 | ||||
55,000 | Carnival Holdings Bermuda, Ltd., 10.375%, 5/1/28 (144A) | 59,534 | ||||
290,000 | NCL Corp., Ltd., 5.875%, 3/15/26 (144A) | 263,073 |
5Pioneer Corporate High Yield Fund | | 5/31/23
Principal Amount USD ($) | Value | |||||
Leisure Time — (continued) | ||||||
55,000 | NCL Corp., Ltd., 7.75%, 2/15/29 (144A) | $ 49,735 | ||||
75,000 | NCL Finance, Ltd., 6.125%, 3/15/28 (144A) | 63,937 | ||||
120,000 | Royal Caribbean Cruises, Ltd., 5.50%, 4/1/28 (144A) | 110,240 | ||||
20,000 | Royal Caribbean Cruises, Ltd., 7.25%, 1/15/30 (144A) | 20,178 | ||||
200,000 | Royal Caribbean Cruises, Ltd., 11.625%, 8/15/27 (144A) | 217,357 | ||||
290,000 | Viking Ocean Cruises Ship VII, Ltd., 5.625%, 2/15/29 (144A) | 253,025 | ||||
Total Leisure Time | $1,254,257 | |||||
Lodging — 0.9% | ||||||
232,000 | Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc, 5.00%, 6/1/29 (144A) | $ 206,345 | ||||
202,000 | Travel + Leisure Co., 6.625%, 7/31/26 (144A) | 200,123 | ||||
Total Lodging | $406,468 | |||||
Media — 3.2% | ||||||
355,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 6/1/33 (144A) | $ 270,994 | ||||
121,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 3/1/30 (144A) | 102,048 | ||||
160,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 2/1/32 (144A) | 128,202 | ||||
55,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 7.375%, 3/1/31 (144A) | 52,643 | ||||
220,000 | Cengage Learning, Inc., 9.50%, 6/15/24 (144A) | 219,259 | ||||
800,000 | CSC Holdings LLC, 4.625%, 12/1/30 (144A) | 341,979 | ||||
362,000 | McGraw-Hill Education, Inc., 8.00%, 8/1/29 (144A) | 302,270 | ||||
25,000 | VZ Secured Financing BV, 5.00%, 1/15/32 (144A) | 19,884 | ||||
Total Media | $1,437,279 | |||||
Metal Fabricate/Hardware — 0.2% | ||||||
130,000 | Park-Ohio Industries, Inc., 6.625%, 4/15/27 | $ 109,525 | ||||
Total Metal Fabricate/Hardware | $109,525 | |||||
Mining — 3.2% | ||||||
191,000 | Coeur Mining, Inc., 5.125%, 2/15/29 (144A) | $ 160,918 | ||||
250,000 | Constellium SE, 3.75%, 4/15/29 (144A) | 215,270 | ||||
235,000 | Eldorado Gold Corp., 6.25%, 9/1/29 (144A) | 210,912 | ||||
265,000 | First Quantum Minerals, Ltd., 7.50%, 4/1/25 (144A) | 264,467 | ||||
325,000 | First Quantum Minerals, Ltd., 8.625%, 6/1/31 (144A) | 320,531 | ||||
339,000 | IAMGOLD Corp., 5.75%, 10/15/28 (144A) | 264,610 | ||||
Total Mining | $1,436,708 | |||||
Pioneer Corporate High Yield Fund | | 5/31/236
Schedule of Investments | 5/31/23
(unaudited) (continued)
Principal Amount USD ($) | Value | |||||
Oil & Gas — 9.7% | ||||||
302,000 | Aethon United BR LP/Aethon United Finance Corp., 8.25%, 2/15/26 (144A) | $ 292,239 | ||||
309,000 | Baytex Energy Corp., 8.75%, 4/1/27 (144A) | 312,254 | ||||
302,000 | Energean Plc, 6.50%, 4/30/27 (144A) | 272,319 | ||||
365,000 | Harbour Energy Plc, 5.50%, 10/15/26 (144A) | 336,391 | ||||
90,000 | Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, 4/15/30 (144A) | 81,129 | ||||
90,000 | Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 4/15/32 (144A) | 80,508 | ||||
262,000 | International Petroleum Corp., 7.25%, 2/1/27 (144A) | 244,708 | ||||
200,000 | Kosmos Energy, Ltd., 7.75%, 5/1/27 (144A) | 170,539 | ||||
190,000 | Matador Resources Co., 6.875%, 4/15/28 (144A) | 188,446 | ||||
50,000 | Nabors Industries, Inc., 7.375%, 5/15/27 (144A) | 46,976 | ||||
300,000 | Neptune Energy Bondco Plc, 6.625%, 5/15/25 (144A) | 294,459 | ||||
55,000 | Noble Finance II LLC, 8.00%, 4/15/30 (144A) | 55,733 | ||||
220,000 | Parkland Corp., 4.625%, 5/1/30 (144A) | 190,190 | ||||
66,000 | Precision Drilling Corp., 6.875%, 1/15/29 (144A) | 59,095 | ||||
210,000 | Shelf Drilling Holdings, Ltd., 8.875%, 11/15/24 (144A) | 209,032 | ||||
324,000 | Southwestern Energy Co., 5.375%, 3/15/30 | 297,805 | ||||
304,000 | Strathcona Resources, Ltd., 6.875%, 8/1/26 (144A) | 256,120 | ||||
360,000 | Tap Rock Resources LLC, 7.00%, 10/1/26 (144A) | 337,336 | ||||
115,000 | Transocean, Inc., 8.75%, 2/15/30 (144A) | 114,943 | ||||
40,000 | Transocean Titan Financing, Ltd., 8.375%, 2/1/28 (144A) | 40,507 | ||||
260,000 | Tullow Oil Plc, 10.25%, 5/15/26 (144A) | 193,424 | ||||
230,000 | Valaris, Ltd., 8.375%, 4/30/30 (144A) | 228,367 | ||||
Total Oil & Gas | $4,302,520 | |||||
Oil & Gas Services — 0.5% | ||||||
215,000 | Enerflex, Ltd., 9.00%, 10/15/27 (144A) | $ 209,174 | ||||
Total Oil & Gas Services | $209,174 | |||||
Packaging & Containers — 3.8% | ||||||
235,000 | Cascades Inc/Cascades USA, Inc., 5.375%, 1/15/28 (144A) | $ 220,313 | ||||
344,000 | Clearwater Paper Corp., 4.75%, 8/15/28 (144A) | 305,227 | ||||
125,000 | Crown Cork & Seal Co., Inc., 7.375%, 12/15/26 | 129,319 | ||||
325,000 | Mauser Packaging Solutions Holding Co., 7.875%, 8/15/26 (144A) | 322,114 | ||||
189,000 | OI European Group BV, 4.75%, 2/15/30 (144A) | 170,809 | ||||
225,000 | Owens-Brockway Glass Container, Inc., 7.25%, 5/15/31 (144A) | 228,937 |
7Pioneer Corporate High Yield Fund | | 5/31/23
Principal Amount USD ($) | Value | |||||
Packaging & Containers — (continued) | ||||||
195,000 | Sealed Air Corp., 5.00%, 4/15/29 (144A) | $ 180,915 | ||||
164,000 | TriMas Corp., 4.125%, 4/15/29 (144A) | 145,606 | ||||
Total Packaging & Containers | $1,703,240 | |||||
Pharmaceuticals — 3.4% | ||||||
395,000 | AdaptHealth LLC, 5.125%, 3/1/30 (144A) | $ 307,243 | ||||
350,000 | Owens & Minor, Inc., 6.625%, 4/1/30 (144A) | 315,513 | ||||
395,000 | P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25 (144A) | 313,056 | ||||
185,000 | Par Pharmaceutical, Inc., 7.50%, 4/1/27 (144A) | 136,656 | ||||
260,000 | Teva Pharmaceutical Finance Netherlands III BV, 5.125%, 5/9/29 | 234,275 | ||||
200,000 | Teva Pharmaceutical Finance Netherlands III BV, 7.875%, 9/15/29 | 205,194 | ||||
Total Pharmaceuticals | $1,511,937 | |||||
Pipelines — 5.1% | ||||||
202,000 | CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 6/15/31 (144A) | $ 180,027 | ||||
190,000 | Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 7.375%, 2/1/31 (144A) | 186,494 | ||||
330,000 | Delek Logistics Partners LP/Delek Logistics Finance Corp., 7.125%, 6/1/28 (144A) | 300,300 | ||||
405,000(c)(d) | Energy Transfer LP, 7.125% (5 Year CMT Index + 531 bps) | 340,417 | ||||
6,000 | EnLink Midstream LLC, 5.375%, 6/1/29 | 5,684 | ||||
135,000 | EnLink Midstream LLC, 6.50%, 9/1/30 (144A) | 134,165 | ||||
357,000 | EnLink Midstream Partners LP, 5.60%, 4/1/44 | 286,814 | ||||
185,000 | Genesis Energy LP/Genesis Energy Finance Corp., 8.00%, 1/15/27 | 180,196 | ||||
369,000 | Harvest Midstream I LP, 7.50%, 9/1/28 (144A) | 352,841 | ||||
100,000 | Venture Global LNG, Inc., 8.125%, 6/1/28 (144A) | 100,500 | ||||
185,000 | Venture Global LNG, Inc., 8.375%, 6/1/31 (144A) | 185,968 | ||||
Total Pipelines | $2,253,406 | |||||
Real Estate — 0.5% | ||||||
270,000 | Kennedy-Wilson, Inc., 4.75%, 2/1/30 | $ 203,513 | ||||
Total Real Estate | $203,513 | |||||
REITs — 2.6% | ||||||
310,000 | HAT Holdings I LLC/HAT Holdings II LLC , 3.375%, 6/15/26 (144A) | $ 271,250 | ||||
335,000 | Iron Mountain, Inc., 7.00%, 2/15/29 (144A) | 333,815 |
Pioneer Corporate High Yield Fund | | 5/31/238
Schedule of Investments | 5/31/23
(unaudited) (continued)
Principal Amount USD ($) | Value | |||||
REITs — (continued) | ||||||
300,000 | MPT Operating Partnership LP/MPT Finance Corp., 3.50%, 3/15/31 | $ 202,499 | ||||
348,000 | Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 10.50%, 2/15/28 (144A) | 337,638 | ||||
Total REITs | $1,145,202 | |||||
Retail — 3.6% | ||||||
181,000 | Asbury Automotive Group, Inc., 4.625%, 11/15/29 (144A) | $ 159,542 | ||||
190,000 | Bath & Body Works, Inc., 6.625%, 10/1/30 (144A) | 181,041 | ||||
220,000 | Beacon Roofing Supply, Inc., 4.125%, 5/15/29 (144A) | 189,750 | ||||
90,000 | Gap, Inc., 3.625%, 10/1/29 (144A) | 63,312 | ||||
50,000 | Gap, Inc., 3.875%, 10/1/31 (144A) | 34,489 | ||||
278,000 | Ken Garff Automotive LLC, 4.875%, 9/15/28 (144A) | 242,032 | ||||
435,000 | LCM Investments Holdings II LLC, 4.875%, 5/1/29 (144A) | 362,744 | ||||
235,000 | Murphy Oil USA, Inc., 3.75%, 2/15/31 (144A) | 198,500 | ||||
206,000 | Staples, Inc., 7.50%, 4/15/26 (144A) | 169,327 | ||||
Total Retail | $1,600,737 | |||||
Software — 0.4% | ||||||
134,000 | AthenaHealth Group, Inc., 6.50%, 2/15/30 (144A) | $ 110,374 | ||||
340,000 | Rackspace Technology Global, Inc., 5.375%, 12/1/28 (144A) | 87,131 | ||||
Total Software | $197,505 | |||||
Telecommunications — 3.1% | ||||||
850,000 | Altice France Holding SA, 6.00%, 2/15/28 (144A) | $ 420,737 | ||||
185,000 | CommScope, Inc., 4.75%, 9/1/29 (144A) | 145,714 | ||||
209,000 | CommScope, Inc., 8.25%, 3/1/27 (144A) | 163,955 | ||||
244,000 | Level 3 Financing, Inc., 10.50%, 5/15/30 (144A) | 231,857 | ||||
500,000 | Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 8/15/28 (144A) | 406,573 | ||||
Total Telecommunications | $1,368,836 | |||||
Transportation — 2.0% | ||||||
450,000 | Carriage Purchaser, Inc., 7.875%, 10/15/29 (144A) | $ 326,250 | ||||
219,000 | Danaos Corp., 8.50%, 3/1/28 (144A) | 217,905 | ||||
236,000 | Rand Parent LLC, 8.50%, 2/15/30 (144A) | 203,727 |
9Pioneer Corporate High Yield Fund | | 5/31/23
Principal Amount USD ($) | Value | |||||
Transportation — (continued) | ||||||
110,000 | Seaspan Corp., 5.50%, 8/1/29 (144A) | $ 86,493 | ||||
858,000 | Western Global Airlines LLC, 10.375%, 8/15/25 (144A) | 55,770 | ||||
Total Transportation | $890,145 | |||||
Total Corporate Bonds (Cost $48,551,405) | $42,197,784 | |||||
Shares | ||||||
Right/Warrant — 0.1% of Net Assets | ||||||
Aerospace & Defense — 0.1% | ||||||
GBP7,525(e) | Avation Plc, 1/1/59 | $ 5,663 | ||||
Total Aerospace & Defense | $5,663 | |||||
Total Right/Warrant (Cost $—) | $5,663 | |||||
Face Amount USD ($) | ||||||
Insurance-Linked Securities — 0.0%† of Net Assets# | ||||||
Collateralized Reinsurance — 0.0%† | ||||||
Multiperil – Worldwide — 0.0%† | ||||||
250,000(e)(f)+ | Cypress Re 2017, 1/31/24 | $ 25 | ||||
250,000(e)(f)+ | Resilience Re, 5/1/24 | — | ||||
$25 | ||||||
Total Collateralized Reinsurance | $25 | |||||
Reinsurance Sidecars — 0.0%† | ||||||
Multiperil – U.S. — 0.0%† | ||||||
1,500,000(e)(g)+ | Harambee Re 2018, 12/31/24 | $ — | ||||
Multiperil – Worldwide — 0.0%† | ||||||
29,857(e)(f)+ | Berwick Re 2019-1, 12/31/24 | $ 4,762 | ||||
250,000(e)(g)+ | Viribus Re 2018, 12/31/24 | — | ||||
106,153(e)(g)+ | Viribus Re 2019, 12/31/24 | 754 | ||||
$5,516 | ||||||
Total Reinsurance Sidecars | $5,516 | |||||
Total Insurance-Linked Securities (Cost $41,655) | $5,541 | |||||
Pioneer Corporate High Yield Fund | | 5/31/2310
Schedule of Investments | 5/31/23
(unaudited) (continued)
Shares | Value | |||||
SHORT TERM INVESTMENTS — 4.1% of Net Assets | ||||||
Open-End Fund — 4.1% | ||||||
1,824,238(h) | Dreyfus Government Cash Management, Institutional Shares, 4.99% | $ 1,824,238 | ||||
$1,824,238 | ||||||
TOTAL SHORT TERM INVESTMENTS (Cost $1,824,238) | $1,824,238 | |||||
TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 99.5% (Cost $50,417,298) | $44,033,226 | |||||
OTHER ASSETS AND LIABILITIES — 0.5% | $242,964 | |||||
net assets — 100.0% | $44,276,190 | |||||
bps | Basis Points. |
CMT | Constant Maturity Treasury Index. |
REIT | Real Estate Investment Trust. |
(144A) | The resale of such security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers. At May 31, 2023, the value of these securities amounted to $37,163,771, or 83.9% of net assets. |
(a) | Securities purchased on a when-issued basis. Rates do not take effect until settlement date. |
(b) | Payment-in-kind (PIK) security which may pay interest in the form of additional principal amount. |
(c) | Security is perpetual in nature and has no stated maturity date. |
(d) | The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at May 31, 2023. |
(e) | Non-income producing security. |
(f) | Issued as participation notes. |
(g) | Issued as preference shares. |
(h) | Rate periodically changes. Rate disclosed is the 7-day yield at May 31, 2023. |
† | Amount rounds to less than 0.1%. |
+ | Security is valued using significant unobservable inputs (Level 3). |
# | Securities are restricted as to resale. |
Restricted Securities | Acquisition date | Cost | Value |
Berwick Re 2019-1 | 12/31/2018 | $3,568 | $4,762 |
Cypress Re 2017 | 1/24/2017 | 840 | 25 |
Harambee Re 2018 | 12/19/2017 | 31,843 | — |
Resilience Re | 2/8/2017 | 124 | — |
11Pioneer Corporate High Yield Fund | | 5/31/23
Restricted Securities | Acquisition date | Cost | Value |
Viribus Re 2018 | 12/22/2017 | $5,280 | $— |
Viribus Re 2019 | 3/25/2019 | — | 754 |
Total Restricted Securities | $5,541 | ||
% of Net assets | 0.0%† |
† | Amount rounds to less than 0.1%. |
SWAP CONTRACTS
CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS – BUY PROTECTION
Notional Amount ($)(1) | Reference Obligation/Index | Pay/ Receive(2) | Annual Fixed Rate | Expiration Date | Premiums (Received) | Unrealized (Depreciation) | Market Value | |
5,390,000 | Markit CDX North America High Yield Series 40 | Pay | 5.00% | 6/20/28 | $(74,998) | $(38,134) | $(113,132) | |
TOTAL CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS – BUY PROTECTION | $(74,998) | $(38,134) | $(113,132) | |||||
TOTAL SWAP CONTRACTS | $(74,998) | $(38,134) | $(113,132) |
(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.
GBP | — Great British Pound |
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 Adviser's own assumptions in determining fair value of investments). |
The following is a summary of the inputs used as of May 31, 2023, in valuing the Fund's investments:
Level 1 | Level 2 | Level 3 | Total | |
Corporate Bonds | $— | $42,197,784 | $— | $42,197,784 |
Right/Warrant | 5,663 | — | — | 5,663 |
Pioneer Corporate High Yield Fund | | 5/31/2312
Schedule of Investments | 5/31/23
(unaudited) (continued)
Level 1 | Level 2 | Level 3 | Total | |
Insurance-Linked Securities | ||||
Collateralized Reinsurance | ||||
Multiperil – Worldwide | $— | $— | $25 | $25 |
Reinsurance Sidecars | ||||
Multiperil – U.S. | — | — | —* | —* |
Multiperil – Worldwide | — | — | 5,516 | 5,516 |
Open-End Fund | 1,824,238 | — | — | 1,824,238 |
Total Investments in Securities | $1,829,901 | $42,197,784 | $5,541 | $44,033,226 |
Other Financial Instruments | ||||
Swap contracts, at value | $— | $(113,132) | $— | $(113,132) |
Total Other Financial Instruments | $— | $(113,132) | $— | $(113,132) |
* | Securities valued at $0. |
During the period ended May 31, 2023, there were no significant transfers in or out of Level 3.
13Pioneer Corporate High Yield Fund | | 5/31/23