UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02864
Pioneer Bond Fund
(Exact name of registrant as specified in charter)
60 State Street, Boston, MA 02109
(Address of principal executive offices) (ZIP code)
Christopher J. Kelley, Amundi Asset Management, Inc.,
60 State Street, Boston, MA 02109
(Name and address of agent for service)
Registrant’s telephone number, including area code: (617) 742-7825
Date of fiscal year end: December 31, 2023
Date of reporting period: July 1, 2023 through December 31, 2023
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. REPORTS TO STOCKHOLDERS.
Pioneer Bond Fund
Semiannual Report | December 31, 2023
| | | | |
A: PIOBX | C: PCYBX | K: PBFKX | R: PBFRX | Y: PICYX |
visit us: www.amundi.com/us
Pioneer Bond Fund | Semiannual Report | 12/31/231
Portfolio Summary | 12/31/23
Portfolio Diversification
(As a percentage of total investments)*
10 Largest Holdings
(As a percentage of total investments)* |
1. | U.S. Treasury Notes, 4.625%, 9/30/30 | 4.61% |
2. | U.S. Treasury Bills, 1/16/24 | 3.15 |
3. | U.S. Treasury Bonds, 4.375%, 8/15/43 | 2.93 |
4. | Federal Home Loan Mortgage Corp., 5.50%, 8/1/53 | 2.70 |
5. | Federal National Mortgage Association, 2.00%, 1/1/54 (TBA) | 2.13 |
6. | Federal National Mortgage Association, 3.00%, 1/1/54 (TBA) | 1.95 |
7. | Federal Home Loan Mortgage Corp., 5.50%, 12/1/53 | 1.63 |
8. | Federal Home Loan Mortgage Corp., 5.50%, 11/1/53 | 1.63 |
9. | U.S. Treasury Bonds, 3.625%, 2/15/53 | 1.43 |
10. | Federal National Mortgage Association, 2.50%, 1/1/54 (TBA) | 1.25 |
* Excludes short-term investments, TBA Sale Commitments and all derivative contracts except for options purchased. The Fund is actively managed, and current holdings may be different. The holdings listed should not be considered recommendations to buy or sell any securities.
† Amount rounds to less than 0.1%.
2Pioneer Bond Fund | Semiannual Report | 12/31/23
Prices and Distributions | 12/31/23
Net Asset Value per Share
Class | 12/31/23 | 6/30/23 |
A | $8.38 | $8.22 |
C | $8.27 | $8.12 |
K | $8.36 | $8.21 |
R | $8.45 | $8.29 |
Y | $8.29 | $8.13 |
| | |
Distributions per Share: 7/1/23 - 12/31/23
Class | Net Investment Income | Short-Term Capital Gains | Long-Term Capital Gains |
A | $0.1475 | $— | $— |
C | $0.1200 | $— | $— |
K | $0.1674 | $— | $— |
R | $0.1376 | $— | $— |
Y | $0.1617 | $— | $— |
Index Definition
The Bloomberg U.S. Aggregate Bond Index is an unmanaged measure of the US bond market. Indices are unmanaged and their returns assume reinvestment of dividends and do not reflect any fees or expenses. It is not possible to invest directly in an index.
The index defined here pertains to the “Value of $10,000 Investment” and “Value of $5 Million Investment” charts on pages 4 - 8.
Pioneer Bond Fund | Semiannual Report | 12/31/233
Performance Update | 12/31/23 | Class A Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $10,000 investment made in Class A shares of Pioneer Bond Fund at public offering price during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
Average Annual Total Returns (As of December 31, 2023) |
Period | Net Asset Value (NAV) | Public Offering Price (POP) | Bloomberg U.S. Aggregate Bond Index |
10 Years | 2.10% | 1.63% | 1.81% |
5 Years | 1.57 | 0.64 | 1.10 |
1 Year | 6.66 | 1.90 | 5.53 |
Expense Ratio (Per prospectus dated November 1, 2023) |
Gross |
0.83% |
Value of $10,000 Investment
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
NAV results represent the percent change in net asset value per share. NAV returns would have been lower had sales charges been reflected. POP returns reflect deduction of maximum 4.50% sales charge. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
4Pioneer Bond Fund | Semiannual Report | 12/31/23
Performance Update | 12/31/23 | Class C Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $10,000 investment made in Class C shares of Pioneer Bond Fund during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
Average Annual Total Returns (As of December 31, 2023) |
Period | If Held | If Redeemed | Bloomberg U.S. Aggregate Bond Index |
10 Years | 1.37% | 1.37% | 1.81% |
5 Years | 0.88 | 0.88 | 1.10 |
1 Year | 5.76 | 4.76 | 5.53 |
Expense Ratio (Per prospectus dated November 1, 2023) |
Gross |
1.49% |
Value of $10,000 Investment
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
Class C shares held for less than one year are also subject to a 1% contingent deferred sales charge (CDSC). “If Held” results represent the percent change in net asset value per share. “If Redeemed” returns reflect deduction of the CDSC for the one-year period, assuming a complete redemption of shares at the last price calculated on the last business day of the period, and no CDSC for the five- and 10-year periods. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
Pioneer Bond Fund | Semiannual Report | 12/31/235
Performance Update | 12/31/23 | Class K Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $5 million investment made in Class K shares of Pioneer Bond Fund during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
Average Annual Total Returns (As of December 31, 2023) |
Period | Net Asset Value (NAV) | Bloomberg U.S. Aggregate Bond Index |
10 Years | 2.51% | 1.81% |
5 Years | 2.01 | 1.10 |
1 Year | 7.06 | 5.53 |
Expense Ratio (Per prospectus dated November 1, 2023) |
Gross |
0.36% |
Value of $5 Million Investment
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
Class K shares are not subject to sales charges and are available for limited groups of eligible investors, including institutional investors. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
6Pioneer Bond Fund | Semiannual Report | 12/31/23
Performance Update | 12/31/23 | Class R Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $10,000 investment made in Class R shares of Pioneer Bond Fund during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
Average Annual Total Returns (As of December 31, 2023) |
Period | Net Asset Value (NAV) | Bloomberg U.S. Aggregate Bond Index |
10 Years | 1.82% | 1.81% |
5 Years | 1.27 | 1.10 |
1 Year | 6.34 | 5.53 |
Expense Ratio (Per prospectus dated November 1, 2023) |
Gross |
1.11% |
Value of $10,000 Investment
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
Class R shares are not subject to sales charges and are available for limited groups of eligible investors, including institutional investors. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
Pioneer Bond Fund | Semiannual Report | 12/31/237
Performance Update | 12/31/23 | Class Y Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $5 million investment made in Class Y shares of Pioneer Bond Fund during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
Average Annual Total Returns (As of December 31, 2023) |
Period | Net Asset Value (NAV) | Bloomberg U.S. Aggregate Bond Index |
10 Years | 2.41% | 1.81% |
5 Years | 1.91 | 1.10 |
1 Year | 6.97 | 5.53 |
Expense Ratio (Per prospectus dated November 1, 2023) |
Gross |
0.47% |
Value of $5 Million Investment
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
Class Y shares are not subject to sales charges and are available for limited groups of eligible investors, including institutional investors. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
8Pioneer Bond Fund | Semiannual Report | 12/31/23
Comparing Ongoing Fund Expenses
As a shareholder in the Fund, you incur two types of costs:
(1) | ongoing costs, including management fees, distribution and/or service (12b-1) fees, and other Fund expenses; and |
(2) | transaction costs, including sales charges (loads) on purchase payments. |
This example is intended to help you understand your ongoing expenses (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 at the beginning of the Fund’s latest six-month period and held throughout the six months.
Using the Tables
Actual Expenses
The first table below provides information about actual account values and actual expenses. You may use the information in this table, together with the amount you invested, to estimate the expenses that you paid over the period as follows:
(1) | Divide your account value by $1,000 Example: an $8,600 account value ÷ $1,000 = 8.6 |
(2) | Multiply the result in (1) above by the corresponding share class’s number in the third row under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period. |
Expenses Paid on a $1,000 Investment in Pioneer Bond Fund
Based on actual returns from July 1, 2023 through December 31, 2023.
Share Class | A | C | K | R | Y |
Beginning Account Value on 7/1/23 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value (after expenses) on 12/31/23 | $1,038.30 | $1,033.90 | $1,039.70 | $1,036.70 | $1,040.60 |
Expenses Paid During Period* | $4.00 | $7.41 | $1.85 | $5.73 | $2.41 |
| |
* | Expenses are equal to the Fund’s annualized expense ratio of 0.78%, 1.45%, 0.36%, 1.12%, and 0.47% for Class A, Class C, Class K, Class R, and Class Y shares, respectively, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the partial year period). |
Pioneer Bond Fund | Semiannual Report | 12/31/239
Comparing Ongoing Fund Expenses (continued)
Hypothetical Example for Comparison Purposes
The table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.
You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales charges (loads) that are charged at the time of the transaction. Therefore, the table below is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
Expenses Paid on a $1,000 Investment in Pioneer Bond Fund
Based on a hypothetical 5% return per year before expenses, reflecting the period from July 1, 2023 through December 31, 2023.
Share Class | A | C | K | R | Y |
Beginning Account Value on 7/1/23 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value (after expenses) on 12/31/23 | $1,021.22 | $1,017.85 | $1,023.33 | $1,019.51 | $1,022.77 |
Expenses Paid During Period* | $3.96 | $7.35 | $1.83 | $5.69 | $2.39 |
| |
* | Expenses are equal to the Fund’s annualized expense ratio of 0.78%, 1.45%, 0.36%, 1.12%, and 0.47% for Class A, Class C, Class K, Class R, and Class Y shares, respectively, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the partial year period). |
10Pioneer Bond Fund | Semiannual Report | 12/31/23
Schedule of Investments | 12/31/23
(unaudited)
Principal Amount USD ($) | | | | | | Value |
| UNAFFILIATED ISSUERS — 107.2% | |
| Senior Secured Floating Rate Loan Interests — 0.3% of Net Assets*(a) | |
| Chemicals-Diversified — 0.0%† | |
1,390,237 | LSF11 A5 HoldCo LLC, Term Loan, 8.97% (Term SOFR + 350 bps), 10/15/28 | $ 1,391,975 |
| Total Chemicals-Diversified | $1,391,975 |
|
|
| Chemicals-Specialty — 0.0%† | |
1,887,929 | Mativ Holdings, Inc., Term B Loan, 9.22% (Term SOFR + 375 bps), 4/20/28 | $ 1,880,849 |
| Total Chemicals-Specialty | $1,880,849 |
|
|
| Electric-Generation — 0.1% | |
317,488 | Eastern Power LLC (Eastern Covert Midco LLC), Term Loan, 9.22% (Term SOFR + 375 bps), 10/2/25 | $ 313,094 |
1,933,562 | Generation Bridge Northeast LLC, Term Loan B, 9.606% (Term SOFR + 425 bps), 8/22/29 | 1,945,647 |
| Total Electric-Generation | $2,258,741 |
|
|
| Electronic Composition — 0.0%† | |
1,000,611 | Energy Acquisition LP, First Lien Initial Term Loan, 9.706% (Term SOFR + 425 bps), 6/26/25 | $ 992,482 |
| Total Electronic Composition | $992,482 |
|
|
| Finance-Leasing Company — 0.0%† | |
608,175 | Avolon TLB Borrower 1 (US) LLC, Term B-4 Loan, 6.958% (Term SOFR + 150 bps), 2/12/27 | $ 609,347 |
| Total Finance-Leasing Company | $609,347 |
|
|
| Medical-Wholesale Drug Distribution — 0.1% | |
1,908,592 | Owens & Minor, Inc., Term B-1 Loan, 9.198% (Term SOFR + 375 bps), 3/29/29 | $ 1,914,953 |
| Total Medical-Wholesale Drug Distribution | $1,914,953 |
|
|
| Metal Processors & Fabrication — 0.1% | |
3,445,687 | Grinding Media, Inc. (Molycop, Ltd.), First Lien Initial Term Loan, 9.684% (Term SOFR + 400 bps), 10/12/28 | $ 3,428,459 |
| Total Metal Processors & Fabrication | $3,428,459 |
|
|
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2311
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Recreational Centers — 0.0%† | |
190,787 | Fitness International LLC, Term B Loan, 8.706% (Term SOFR + 325 bps), 4/18/25 | $ 190,381 |
| Total Recreational Centers | $190,381 |
|
|
| Total Senior Secured Floating Rate Loan Interests (Cost $12,609,313) | $12,667,187 |
|
|
| Asset Backed Securities — 7.8% of Net Assets | |
500,000 | 321 Henderson Receivables III LLC, Series 2008-1A, Class B, 8.37%, 1/15/46 (144A) | $ 509,118 |
231,275(a) | 321 Henderson Receivables LLC, Series 2005-1A, Class A1, 5.706% (1 Month Term SOFR + 34 bps), 11/15/40 (144A) | 227,316 |
1,750,000(a) | ABPCI Direct Lending Fund CLO X LP, Series 2020-10A, Class A1A, 7.538% (3 Month Term SOFR + 221 bps), 1/20/32 (144A) | 1,745,975 |
1,555,714 | Accelerated LLC, Series 2021-1H, Class C, 2.35%, 10/20/40 (144A) | 1,417,935 |
11,585,403(a) | ACREC, Ltd., Series 2021-FL1, Class A, 6.623% (1 Month Term SOFR + 126 bps), 10/16/36 (144A) | 11,349,605 |
3,500,000 | Amur Equipment Finance Receivables XII LLC, Series 2023-1A, Class C, 6.36%, 12/20/29 (144A) | 3,549,101 |
4,105,663 | Aqua Finance Trust, Series 2019-A, Class C, 4.01%, 7/16/40 (144A) | 3,782,127 |
2,110,000 | Aqua Finance Trust, Series 2020-AA, Class C, 3.97%, 7/17/46 (144A) | 1,867,037 |
6,975,000(a) | Arbor Realty Commercial Real Estate Notes, Ltd., Series 2021-FL3, Class C, 7.326% (1 Month Term SOFR + 196 bps), 8/15/34 (144A) | 6,629,891 |
7,740,000(a) | Arbor Realty Commercial Real Estate Notes, Ltd., Series 2022-FL1, Class C, 7.638% (SOFR30A + 230 bps), 1/15/37 (144A) | 7,457,742 |
10,600,000(a) | Arbor Realty Commercial Real Estate Notes, Ltd., Series 2022-FL2, Class C, 8.812% (1 Month Term SOFR + 345 bps), 5/15/37 (144A) | 10,440,820 |
7,379,590 | Blackbird Capital II Aircraft Lease, Ltd., Series 2021-1A, Class A, 2.443%, 7/15/46 (144A) | 6,362,904 |
4,980,000(a) | BSPRT Issuer, Ltd., Series 2022-FL8, Class C, 7.638% (SOFR30A + 230 bps), 2/15/37 (144A) | 4,805,024 |
2,750,000(a) | Carlyle US CLO, Ltd., Series 2019-4A, Class CR, 8.594% (3 Month Term SOFR + 320 bps), 4/15/35 (144A) | 2,643,776 |
The accompanying notes are an integral part of these financial statements.
12Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Asset Backed Securities — (continued) | |
3,580,000(b) | Cascade Funding Mortgage Trust, Series 2021-HB6, Class M3, 3.735%, 6/25/36 (144A) | $ 3,396,460 |
5,094,346(b) | Cascade MH Asset Trust, Series 2019-MH1, Class A, 4.00%, 11/25/44 (144A) | 4,878,742 |
3,773,000 | Cascade MH Asset Trust, Series 2021-MH1, Class M1, 2.992%, 2/25/46 (144A) | 2,842,726 |
1,906,000 | Cascade MH Asset Trust, Series 2021-MH1, Class M2, 3.693%, 2/25/46 (144A) | 1,490,344 |
7,600,000(b) | CFMT LLC, Series 2021-HB7, Class M3, 3.849%, 10/27/31 (144A) | 7,109,100 |
3,745,000(b) | CFMT LLC, Series 2022-HB9, Class M3, 3.25%, 9/25/37 (144A) | 3,045,945 |
4,405,000 | Commercial Equipment Finance LLC, Series 2021-A, Class C, 3.55%, 12/15/28 (144A) | 4,215,863 |
206,990(a) | Commonbond Student Loan Trust, Series 2017-BGS, Class A2, 6.12% (1 Month Term SOFR + 76 bps), 9/25/42 (144A) | 201,798 |
12,425,000 | Continental Finance Credit Card ABS Master Trust, Series 2022-A, Class A, 6.19%, 10/15/30 (144A) | 12,318,453 |
2,400,000 | DataBank Issuer, Series 2021-1A, Class B, 2.65%, 2/27/51 (144A) | 2,127,301 |
8,214,937 | Domino's Pizza Master Issuer LLC, Series 2019-1A, Class A2, 3.668%, 10/25/49 (144A) | 7,494,791 |
1,179,277 | Drive Auto Receivables Trust, Series 2020-2, Class D, 3.05%, 5/15/28 | 1,165,323 |
11,290,000 | Exeter Automobile Receivables Trust, Series 2023-5A, Class D, 7.13%, 2/15/30 | 11,590,889 |
4,000,000 | ExteNet LLC, Series 2019-1A, Class C, 5.219%, 7/25/49 (144A) | 3,891,804 |
12,575,000(b) | Finance of America HECM Buyout, Series 2022-HB1, Class M3, 5.084%, 2/25/32 (144A) | 11,515,617 |
5,247,999(c) | Finance of America Structured Securities Trust, Series 2021-S2, Class A2, 1.75%, 9/25/71 (144A) | 5,008,848 |
7,768,053(c) | Finance of America Structured Securities Trust, Series 2022-S1, Class A1, 2.00%, 2/25/52 (144A) | 7,317,905 |
8,225,830(c) | Finance of America Structured Securities Trust, Series 2022-S1, Class A2, 3.00%, 2/25/52 (144A) | 7,542,058 |
1,575,000(a) | First Eagle BSL CLO, Ltd., Series 2019-1A, Class C, 10.027% (3 Month Term SOFR + 461 bps), 1/20/33 (144A) | 1,513,789 |
1,000,000(a) | First Eagle BSL CLO, Ltd., Series 2019-1A, Class D, 13.377% (3 Month Term SOFR + 796 bps), 1/20/33 (144A) | 883,107 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2313
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Asset Backed Securities — (continued) | |
3,440,000 | Foundation Finance Trust, Series 2019-1A, Class B, 4.22%, 11/15/34 (144A) | $ 3,346,860 |
2,086,802 | Foundation Finance Trust, Series 2021-1A, Class A, 1.27%, 5/15/41 (144A) | 1,866,064 |
4,200,000 | Four Seas LP, Series 2017-1A, Class A2, 5.927%, 8/28/27 (144A) | 3,945,479 |
4,662,000 | GLS Auto Receivables Issuer Trust, Series 2023-4A, Class D, 7.18%, 8/15/29 (144A) | 4,788,616 |
3,000,000(a) | Goldentree Loan Management US CLO 6, Ltd., Series 2019-6A, Class DR, 8.516% (3 Month Term SOFR + 310 bps), 4/20/35 (144A) | 2,946,672 |
1,640,000 | Granite Park Equipment Leasing LLC, Series 2023-1A, Class D, 7.00%, 8/22/33 (144A) | 1,625,211 |
3,936,863 | Hardee's Funding LLC, Series 2018-1A, Class A2II, 4.959%, 6/20/48 (144A) | 3,770,211 |
3,440,000(a) | HGI CRE CLO, Ltd., Series 2021-FL2, Class C, 7.273% (1 Month Term SOFR + 191 bps), 9/17/36 (144A) | 3,293,401 |
342,235 | HIN Timeshare Trust, Series 2020-A, Class D, 5.50%, 10/9/39 (144A) | 323,623 |
5,830,788 | HOA Funding LLC - HOA, Series 2021-1A, Class A2, 4.723%, 8/20/51 (144A) | 4,502,283 |
2,956,722 | Home Partners of America Trust, Series 2019-1, Class D, 3.406%, 9/17/39 (144A) | 2,631,957 |
4,243,454 | Home Partners of America Trust, Series 2019-2, Class E, 3.32%, 10/19/39 (144A) | 3,666,733 |
3,090,000 | HPEFS Equipment Trust, Series 2023-2A, Class D, 6.97%, 7/21/31 (144A) | 3,167,929 |
3,031,242 | J.G. Wentworth XLI LLC, Series 2018-1A, Class A, 3.74%, 10/17/72 (144A) | 2,607,690 |
4,723,572 | JG Wentworth XLIII LLC, Series 2019-1A, Class A, 3.82%, 8/17/71 (144A) | 4,029,699 |
108,832 | JG Wentworth XXII LLC, Series 2010-3A, Class A, 3.82%, 12/15/48 (144A) | 108,387 |
1,950,000 | JPMorgan Chase Bank NA - CACLN, Series 2021-3, Class F, 3.694%, 2/26/29 (144A) | 1,862,332 |
1,978,736 | Libra Solutions LLC, Series 2022-2A, Class B, 8.85%, 10/15/34 (144A) | 1,970,821 |
5,725,000(a) | MF1, Ltd., Series 2021-FL7, Class D, 8.023% (1 Month Term SOFR + 266 bps), 10/16/36 (144A) | 5,330,960 |
1,603,025 | Mosaic Solar Loan Trust, Series 2019-2A, Class A, 2.88%, 9/20/40 (144A) | 1,424,052 |
22 | Mosaic Solar Loan Trust, Series 2019-2A, Class C, 4.35%, 9/20/40 (144A) | 22 |
The accompanying notes are an integral part of these financial statements.
14Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Asset Backed Securities — (continued) | |
702,554 | Mosaic Solar Loan Trust, Series 2020-1A, Class A, 2.10%, 4/20/46 (144A) | $ 613,339 |
300,201 | MVW LLC, Series 2020-1A, Class C, 4.21%, 10/20/37 (144A) | 288,265 |
5,095,000 | Nelnet Student Loan Trust, Series 2021-A, Class B1, 2.85%, 4/20/62 (144A) | 4,155,428 |
2,850,000(a) | Newark BSL CLO 1, Ltd., Series 2016-1A, Class CR, 8.649% (3 Month Term SOFR + 326 bps), 12/21/29 (144A) | 2,767,889 |
2,300,000 | NMEF Funding LLC, Series 2021-A, Class C, 2.58%, 12/15/27 (144A) | 2,229,968 |
2,690,000 | NMEF Funding LLC, Series 2022-B, Class C, 8.54%, 6/15/29 (144A) | 2,643,001 |
2,382,706 | Oportun Funding XIV LLC, Series 2021-A, Class C, 3.44%, 3/8/28 (144A) | 2,269,125 |
1,368,410 | Orange Lake Timeshare Trust, Series 2019-A, Class D, 4.93%, 4/9/38 (144A) | 1,306,968 |
3,000,000(a) | Palmer Square Loan Funding, Ltd., Series 2022-1A, Class C, 7.994% (3 Month Term SOFR + 260 bps), 4/15/30 (144A) | 2,935,659 |
4,008,450 | PG Receivables Finance, Series 2020-1, Class A1, 3.968%, 7/20/25 (144A) | 4,005,945 |
2,350,000 | PG Receivables Finance, Series 2020-1, Class B, 4.705%, 7/20/25 (144A) | 2,348,531 |
8,500,000(a) | Race Point VIII CLO, Ltd., Series 2013-8A, Class CR2, 7.679% (3 Month Term SOFR + 231 bps), 2/20/30 (144A) | 8,331,003 |
4,000,000(a) | Race Point VIII CLO, Ltd., Series 2013-8A, Class DR2, 9.129% (3 Month Term SOFR + 376 bps), 2/20/30 (144A) | 3,945,204 |
7,863,751(a) | ReadyCap Lending Small Business Loan Trust, Series 2023-3, Class A, 8.57% (PRIME + 7 bps), 4/25/48 (144A) | 7,902,638 |
9,010,000 | Republic Finance Issuance Trust, Series 2021-A, Class A, 2.30%, 12/22/31 (144A) | 8,539,713 |
2,300,000 | Republic Finance Issuance Trust, Series 2021-A, Class C, 3.53%, 12/22/31 (144A) | 2,062,996 |
3,000,000(b) | RMF Buyout Issuance Trust, Series 2021-HB1, Class M3, 3.69%, 11/25/31 (144A) | 2,649,128 |
12,894,087(b) | Saluda Grade Alternative Mortgage Trust, Series 2021-FIG2, Class A2, 3.50%, 10/25/51 (144A) | 11,483,796 |
4,125,000(b) | Saluda Grade Alternative Mortgage Trust, Series 2022-SEQ2, Class A3, 4.50%, 5/25/55 (144A) | 3,858,820 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2315
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Asset Backed Securities — (continued) | |
269,330 | Santander Bank N.A. - SBCLN, Series 2021-1A, Class C, 3.268%, 12/15/31 (144A) | $ 263,794 |
1,925,000 | Santander Bank N.A. - SBCLN, Series 2021-1A, Class D, 5.004%, 12/15/31 (144A) | 1,856,315 |
1,131,185 | Santander Bank NA - SBCLN, Series 2021-1A, Class B, 1.833%, 12/15/31 (144A) | 1,102,036 |
6,975,000(c) | SBA Tower Trust, Series 2014-2A, Class C, 3.869%, 10/15/49 (144A) | 6,858,178 |
4,600,000 | SCF Equipment Leasing LLC, Series 2019-2A, Class C, 3.11%, 6/21/27 (144A) | 4,502,811 |
5,000,000(a) | Signal Peak CLO 2 LLC, Series 2015-1A, Class DR2, 8.527% (3 Month Term SOFR + 311 bps), 4/20/29 (144A) | 4,931,025 |
2,750,000(a) | Sound Point CLO XXVIII, Ltd., Series 2020-3A, Class D, 9.29% (3 Month Term SOFR + 391 bps), 1/25/32 (144A) | 2,664,577 |
3,942,337 | SpringCastle America Funding LLC, Series 2020-AA, Class A, 1.97%, 9/25/37 (144A) | 3,636,595 |
10,345,000(a) | STWD, Ltd., Series 2022-FL3, Class B, 7.288% (SOFR30A + 195 bps), 11/15/38 (144A) | 10,039,171 |
160,155 | Tricolor Auto Securitization Trust, Series 2021-1A, Class D, 1.92%, 5/15/26 (144A) | 159,910 |
5,650,000 | Tricon American Homes Trust, Series 2020-SFR2, Class E1, 2.73%, 11/17/39 (144A) | 4,938,871 |
24,508 | United States Small Business Administration, Series 2005-20B, Class 1, 4.625%, 2/1/25 | 24,229 |
19,183 | United States Small Business Administration, Series 2005-20E, Class 1, 4.84%, 5/1/25 | 18,922 |
54,064 | United States Small Business Administration, Series 2008-20D, Class 1, 5.37%, 4/1/28 | 53,984 |
52,154 | United States Small Business Administration, Series 2008-20H, Class 1, 6.02%, 8/1/28 | 52,703 |
32,906 | United States Small Business Administration, Series 2008-20J, Class 1, 5.63%, 10/1/28 | 32,559 |
32,788 | United States Small Business Administration, Series 2008-20L, Class 1, 6.22%, 12/1/28 | 33,046 |
16,188 | United States Small Business Administration, Series 2009-20A, Class 1, 5.72%, 1/1/29 | 16,004 |
37,371 | United States Small Business Administration, Series 2009-20I, Class 1, 4.20%, 9/1/29 | 36,608 |
1,006,792 | Upstart Securitization Trust, Series 2020-1, Class C, 4.899%, 4/22/30 (144A) | 1,000,585 |
3,145,000 | VFI ABS LLC, Series 2023-1A, Class C, 9.26%, 12/24/29 (144A) | 3,208,781 |
The accompanying notes are an integral part of these financial statements.
16Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Asset Backed Securities — (continued) | |
565,409 | Welk Resorts LLC, Series 2019-AA, Class C, 3.34%, 6/15/38 (144A) | $ 537,849 |
271,291 | Welk Resorts LLC, Series 2019-AA, Class D, 4.03%, 6/15/38 (144A) | 258,223 |
787,228 | Westgate Resorts LLC, Series 2020-1A, Class C, 6.213%, 3/20/34 (144A) | 780,517 |
6,610,320 | Westgate Resorts LLC, Series 2022-1A, Class C, 2.488%, 8/20/36 (144A) | 6,284,407 |
1,800,000(a) | Whitebox CLO II, Ltd., Series 2020-2A, Class ER, 12.76% (3 Month Term SOFR + 736 bps), 10/24/34 (144A) | 1,784,484 |
1,500,000(a) | Woodmont Trust, Series 2020-7A, Class A1A, 7.555% (3 Month Term SOFR + 216 bps), 1/15/32 (144A) | 1,495,537 |
| Total Asset Backed Securities (Cost $369,654,990) | $350,457,373 |
|
|
| Collateralized Mortgage Obligations—7.6% of Net Assets | |
2,396,052(a) | Bellemeade Re, Ltd., Series 2019-1A, Class M2, 8.17% (1 Month Term SOFR + 281 bps), 3/25/29 (144A) | $ 2,411,848 |
12,559,000(b) | BINOM Securitization Trust, Series 2022-RPL1, Class M2, 3.00%, 2/25/61 (144A) | 8,616,064 |
3,351,129(b) | Brean Asset Backed Securities Trust, Series 2021-RM1, Class A, 1.40%, 10/25/63 (144A) | 2,893,125 |
2,985,000(b) | Bunker Hill Loan Depositary Trust, Series 2020-1, Class A3, 3.253%, 2/25/55 (144A) | 2,622,781 |
1,122,293(b) | Cascade Funding Mortgage Trust, Series 2018-RM2, Class A, 4.00%, 10/25/68 (144A) | 1,122,342 |
3,366,481(b) | Cascade Funding Mortgage Trust, Series 2018-RM2, Class C, 4.00%, 10/25/68 (144A) | 3,248,913 |
5,170,000(b) | CIM Trust, Series 2020-R2, Class M3, 3.00%, 10/25/59 (144A) | 3,790,588 |
5,556,884(b) | CIM Trust, Series 2021-J1, Class B1, 2.659%, 3/25/51 (144A) | 4,373,625 |
3,238,739(b) | CIM Trust, Series 2021-J2, Class B2, 2.672%, 4/25/51 (144A) | 2,450,171 |
3,096,792(b) | Citigroup Mortgage Loan Trust, Series 2021-INV1, Class B1W, 2.708%, 5/25/51 (144A) | 2,425,163 |
2,035,000(a) | Connecticut Avenue Securities Trust, Series 2022-R02, Class 2M2, 8.337% (SOFR30A + 300 bps), 1/25/42 (144A) | 2,062,291 |
2,490,163(b) | CSMC Trust, Series 2021-RPL2, Class M1, 2.75%, 1/25/60 (144A) | 1,832,938 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2317
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Collateralized Mortgage Obligations—(continued) | |
2,350,000(b) | CSMC Trust, Series 2021-RPL2, Class M2, 3.25%, 1/25/60 (144A) | $ 1,678,367 |
1,450,000(b) | Deephaven Residential Mortgage Trust, Series 2020-2, Class M1, 4.112%, 5/25/65 (144A) | 1,378,004 |
6,810,000(a) | Eagle Re, Ltd., Series 2023-1, Class M1B, 9.287% (SOFR30A + 395 bps), 9/26/33 (144A) | 6,842,410 |
150,744(b) | Fannie Mae Grantor Trust, Series 2004-T2, Class 2A, 4.366%, 7/25/43 | 150,311 |
4,634,761(a)(d) | Federal Home Loan Mortgage Corp. REMICs, Series 4091, Class SH, 1.097% (SOFR30A + 644 bps), 8/15/42 | 602,943 |
2,666,668(d) | Federal Home Loan Mortgage Corp. REMICs, Series 4999, Class QI, 4.00%, 5/25/50 | 478,514 |
2,787,356(d) | Federal Home Loan Mortgage Corp. REMICs, Series 5067, Class GI, 4.00%, 12/25/50 | 536,195 |
19,713 | Federal National Mortgage Association REMICs, Series 2009-36, Class HX, 4.50%, 6/25/29 | 19,438 |
2,157,626(d) | Federal National Mortgage Association REMICs, Series 2020-83, Class EI, 4.00%, 11/25/50 | 430,829 |
164,781,642(b)(d) | Flagstar Mortgage Trust, Series 2021-4, Class AX1, 0.204%, 6/1/51 (144A) | 1,759,374 |
6,940,000(a) | Freddie Mac STACR REMIC Trust, Series 2019-HRP1, Class M3, 7.702% (SOFR30A + 236 bps), 2/25/49 (144A) | 7,057,646 |
1,815,205(a) | Freddie Mac STACR REMIC Trust, Series 2020-DNA5, Class M2, 8.137% (SOFR30A + 280 bps), 10/25/50 (144A) | 1,840,688 |
2,909 | Government National Mortgage Association, Series 2012-130, Class PA, 3.00%, 4/20/41 | 2,898 |
263,930 | Government National Mortgage Association, Series 2013-169, Class TE, 3.25%, 4/16/27 | 254,727 |
13,152,890(d) | Government National Mortgage Association, Series 2019-159, Class CI, 3.50%, 12/20/49 | 2,295,687 |
11,235,595(a)(d) | Government National Mortgage Association, Series 2020-9, Class SA, 0.000% (1 Month Term SOFR + 324 bps), 1/20/50 | 246,808 |
6,071,000(b) | GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class B1, 2.75%, 12/25/60 (144A) | 4,567,461 |
4,820,000(b) | GS Mortgage-Backed Securities Corp. Trust, Series 2022-PJ4, Class A33, 3.00%, 9/25/52 (144A) | 3,324,929 |
129,540(b) | GS Mortgage-Backed Securities Trust, Series 2020-NQM1, Class A3, 2.352%, 9/27/60 (144A) | 118,760 |
The accompanying notes are an integral part of these financial statements.
18Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Collateralized Mortgage Obligations—(continued) | |
2,900,677(b) | GS Mortgage-Backed Securities Trust, Series 2021-PJ9, Class B3, 2.931%, 2/26/52 (144A) | $ 2,210,260 |
1,782,124(a) | Home Re, Ltd., Series 2019-1, Class M1, 7.102% (SOFR30A + 176 bps), 5/25/29 (144A) | 1,782,397 |
1,258,290(a) | Home Re, Ltd., Series 2020-1, Class M2, 10.702% (SOFR30A + 536 bps), 10/25/30 (144A) | 1,265,909 |
1,590,000(a) | Home Re, Ltd., Series 2023-1, Class M1B, 9.921% (SOFR30A + 460 bps), 10/25/33 (144A) | 1,600,851 |
3,990,000(b) | Homeward Opportunities Fund I Trust, Series 2020-2, Class A3, 3.196%, 5/25/65 (144A) | 3,792,698 |
2,185,000(b) | Homeward Opportunities Fund I Trust, Series 2020-2, Class M1, 3.897%, 5/25/65 (144A) | 2,032,715 |
57,426,629(b)(d) | Hundred Acre Wood Trust, Series 2021-INV1, Class AX1, 0.225%, 7/25/51 (144A) | 631,538 |
4,489,919(b) | Hundred Acre Wood Trust, Series 2021-INV1, Class B1, 3.225%, 7/25/51 (144A) | 3,701,197 |
11,547,333(b) | Hundred Acre Wood Trust, Series 2021-INV3, Class A3, 2.50%, 12/25/51 (144A) | 9,456,181 |
1,800,000(b) | Imperial Fund Mortgage Trust, Series 2021-NQM2, Class B1, 3.295%, 9/25/56 (144A) | 1,167,198 |
2,065,000(b) | Imperial Fund Mortgage Trust, Series 2021-NQM2, Class M1, 2.489%, 9/25/56 (144A) | 1,330,949 |
11,124,000 | IMS Ecuadorian Mortgage Trust, Series 2021-1, Class GA, 3.40%, 8/18/43 (144A) | 10,296,652 |
108,018,711(b)(d) | JP Morgan Mortgage Trust, Series 2021-10, Class AX1, 0.119%, 12/25/51 (144A) | 637,818 |
5,633,834(b) | JP Morgan Mortgage Trust, Series 2021-10, Class B1, 2.807%, 12/25/51 (144A) | 4,381,917 |
4,064,885(b) | JP Morgan Mortgage Trust, Series 2021-12, Class B1, 3.165%, 2/25/52 (144A) | 3,271,192 |
3,876,343(b) | JP Morgan Mortgage Trust, Series 2021-13, Class B1, 3.14%, 4/25/52 (144A) | 3,102,679 |
4,826,841(b) | JP Morgan Mortgage Trust, Series 2021-7, Class B2, 2.799%, 11/25/51 (144A) | 3,701,487 |
93,881,851(b)(d) | JP Morgan Mortgage Trust, Series 2021-8, Class AX1, 0.12%, 12/25/51 (144A) | 523,213 |
8,859,461(b) | JP Morgan Mortgage Trust, Series 2021-8, Class B2, 2.845%, 12/25/51 (144A) | 6,809,930 |
2,628,151(b) | JP Morgan Mortgage Trust, Series 2021-INV1, Class B1, 2.979%, 10/25/51 (144A) | 2,087,160 |
3,246,760(b) | JP Morgan Mortgage Trust, Series 2021-INV1, Class B2, 2.979%, 10/25/51 (144A) | 2,524,768 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2319
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Collateralized Mortgage Obligations—(continued) | |
4,529,558(b) | JP Morgan Mortgage Trust, Series 2021-INV4, Class B2, 3.216%, 1/25/52 (144A) | $ 3,568,836 |
4,801,123(b) | JP Morgan Mortgage Trust, Series 2021-INV4, Class B3, 3.216%, 1/25/52 (144A) | 3,618,119 |
6,420,000(b) | JP Morgan Mortgage Trust, Series 2022-4, Class A5, 3.00%, 10/25/52 (144A) | 4,438,468 |
7,114,000(b) | JP Morgan Mortgage Trust, Series 2022-LTV1, Class M1, 3.522%, 7/25/52 (144A) | 4,467,729 |
1,116,373 | La Hipotecaria El Salvadorian Mortgage Trust, Series 2016-1A, Class A, 3.358%, 1/15/46 (144A) | 1,008,922 |
317,474(a) | La Hipotecaria Panamanian Mortgage Trust, Series 2010-1GA, Class A, 3.00% (Panamanian Mortgage Reference Rate - 300 bps), 9/8/39 (144A) | 305,171 |
1,789,855(a) | La Hipotecaria Panamanian Mortgage Trust, Series 2014-1A, Class A1, 3.508% (Panamanian Mortgage Reference Rate - 224 bps), 11/24/42 (144A) | 1,673,514 |
6,985,227 | La Hipotecaria Panamanian Mortgage Trust, Series 2021-1, Class GA, 4.35%, 7/13/52 (144A) | 5,937,443 |
10,013,826(b) | Mello Mortgage Capital Acceptance, Series 2021-INV2, Class A15, 2.50%, 8/25/51 (144A) | 7,987,588 |
3,934,718(b) | Mello Mortgage Capital Acceptance, Series 2021-MTG1, Class B2, 2.651%, 4/25/51 (144A) | 2,953,534 |
4,551,429(b) | Mello Mortgage Capital Acceptance, Series 2021-MTG2, Class B1, 2.669%, 6/25/51 (144A) | 3,516,060 |
4,739,048(b) | Mello Mortgage Capital Acceptance, Series 2022-INV1, Class B1, 3.32%, 3/25/52 (144A) | 3,788,337 |
116,503(b) | MFA Trust, Series 2020-NQM1, Class A3, 2.30%, 8/25/49 (144A) | 106,344 |
3,166,426(b) | Mill City Mortgage Loan Trust, Series 2017-3, Class B2, 3.25%, 1/25/61 (144A) | 2,542,180 |
7,800,000(b) | Mill City Mortgage Loan Trust, Series 2019-GS1, Class M3, 3.25%, 7/25/59 (144A) | 6,328,771 |
10,950,000(b) | New Residential Mortgage Loan Trust, Series 2019-RPL2, Class M2, 3.75%, 2/25/59 (144A) | 9,385,613 |
4,175,000 | NYMT Loan Trust, Series 2022-CP1, Class M1, 3.215%, 7/25/61 (144A) | 3,368,047 |
1,953,387(a) | Oaktown Re V, Ltd., Series 2020-2A, Class M2, 10.702% (SOFR30A + 536 bps), 10/25/30 (144A) | 1,985,740 |
8,386,627(b) | Oceanview Mortgage Trust, Series 2021-1, Class B2, 3.242%, 6/25/51 (144A) | 6,665,401 |
2,754,454(b) | Oceanview Mortgage Trust, Series 2021-5, Class B2, 2.974%, 10/25/51 (144A) | 2,191,000 |
The accompanying notes are an integral part of these financial statements.
20Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Collateralized Mortgage Obligations—(continued) | |
6,488,394(b) | PRMI Securitization Trust, Series 2021-1, Class B1, 2.478%, 4/25/51 (144A) | $ 4,906,395 |
2,659,590(b) | PRMI Securitization Trust, Series 2021-1, Class B2, 2.478%, 4/25/51 (144A) | 1,972,351 |
3,326,478(b) | Provident Funding Mortgage Trust, Series 2021-1, Class B1, 2.384%, 4/25/51 (144A) | 2,583,595 |
3,350,301(b) | Provident Funding Mortgage Trust, Series 2021-2, Class B1, 2.352%, 4/25/51 (144A) | 2,521,454 |
2,795,677(b) | Provident Funding Mortgage Trust, Series 2021-J1, Class B1, 2.637%, 10/25/51 (144A) | 2,239,552 |
2,881,469(b) | Provident Funding Mortgage Trust, Series 2021-J1, Class B2, 2.637%, 10/25/51 (144A) | 2,270,007 |
3,130,000(a) | Radnor Re, Ltd., Series 2023-1, Class M1A, 8.037% (SOFR30A + 270 bps), 7/25/33 (144A) | 3,149,928 |
2,671,616(b) | Rate Mortgage Trust, Series 2021-HB1, Class B1, 2.705%, 12/25/51 (144A) | 2,048,248 |
4,000,301(b) | Rate Mortgage Trust, Series 2021-HB1, Class B2, 2.705%, 12/25/51 (144A) | 3,013,759 |
3,935,517(b) | Rate Mortgage Trust, Series 2021-J3, Class B2, 2.713%, 10/25/51 (144A) | 3,075,812 |
3,914,641(b) | Rate Mortgage Trust, Series 2021-J4, Class B3, 2.631%, 11/25/51 (144A) | 2,811,279 |
4,994,809(b) | RCKT Mortgage Trust, Series 2021-1, Class B2A, 2.719%, 3/25/51 (144A) | 3,949,874 |
5,244,989(b) | RCKT Mortgage Trust, Series 2021-2, Class B1A, 2.562%, 6/25/51 (144A) | 4,105,526 |
3,733,721(b) | RCKT Mortgage Trust, Series 2021-2, Class B2A, 2.562%, 6/25/51 (144A) | 2,858,939 |
3,268,874(b) | RCKT Mortgage Trust, Series 2021-3, Class A25, 2.50%, 7/25/51 (144A) | 2,607,437 |
10,379,382(b) | RCKT Mortgage Trust, Series 2021-4, Class B1A, 3.007%, 9/25/51 (144A) | 8,263,149 |
12,685,000(b) | RCKT Mortgage Trust, Series 2022-3, Class A17, 3.00%, 5/25/52 (144A) | 8,682,419 |
4,383,562(b) | RMF Proprietary Issuance Trust, Series 2021-2, Class A, 2.125%, 9/25/61 (144A) | 3,544,364 |
420,399(b) | Sequoia Mortgage Trust, Series 2012-6, Class B3, 3.699%, 12/25/42 | 400,333 |
66,311(b) | Sequoia Mortgage Trust, Series 2018-CH3, Class A1, 4.50%, 8/25/48 (144A) | 64,673 |
2,792,847(b) | Sequoia Mortgage Trust, Series 2021-1, Class B2, 2.659%, 3/25/51 (144A) | 2,204,735 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2321
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Collateralized Mortgage Obligations—(continued) | |
4,725,000(b) | Sequoia Mortgage Trust, Series 2022-1, Class A7, 2.50%, 2/25/52 (144A) | $ 2,999,866 |
11,220,000(a) | STACR Trust, Series 2018-HRP2, Class B1, 9.652% (SOFR30A + 431 bps), 2/25/47 (144A) | 12,265,291 |
10,000,000(b) | Towd Point Mortgage Trust, Series 2019-3, Class M2D, 3.25%, 2/25/59 (144A) | 7,823,735 |
4,610,000(a) | Towd Point Mortgage Trust, Series 2019-HY1, Class B2, 7.62% (1 Month Term SOFR + 226 bps), 10/25/48 (144A) | 4,414,543 |
2,000,000(a) | Towd Point Mortgage Trust, Series 2019-HY2, Class B1, 7.72% (1 Month Term SOFR + 236 bps), 5/25/58 (144A) | 2,042,360 |
11,474,741(b) | Towd Point Mortgage Trust, Series 2021-R1, Class A1, 2.918%, 11/30/60 (144A) | 9,610,096 |
8,190,000(a) | Triangle Re, Ltd., Series 2023-1, Class M1A, 8.721% (SOFR30A + 340 bps), 11/25/33 (144A) | 8,189,916 |
3,885,545(b) | UWM Mortgage Trust, Series 2021-INV4, Class B2, 3.225%, 12/25/51 (144A) | 3,052,511 |
4,916,768(b) | UWM Mortgage Trust, Series 2021-INV5, Class B1, 3.237%, 1/25/52 (144A) | 3,996,524 |
2,810,000(b) | Wells Fargo Mortgage Backed Securities Trust, Series 2022-2, Class A5, 3.00%, 12/25/51 (144A) | 1,927,513 |
11,105,000(b) | Wells Fargo Mortgage Backed Securities Trust, Series 2022-2, Class A6, 2.50%, 12/25/51 (144A) | 6,993,498 |
| Total Collateralized Mortgage Obligations (Cost $416,113,817) | $344,171,046 |
|
|
| Commercial Mortgage-Backed Securities—3.9% of Net Assets | |
4,360,000(a) | AREIT Trust, Series 2022-CRE6, Class D, 8.188% (SOFR30A + 285 bps), 1/20/37 (144A) | $ 4,110,165 |
2,118,882(c)(d) + | Bayview Commercial Asset Trust, Series 2007-2A, Class IO, 0.000%, 7/25/37 (144A) | — |
7,340,000 | Benchmark Mortgage Trust, Series 2018-B8, Class A4, 3.963%, 1/15/52 | 6,965,663 |
2,615,000(b) | Benchmark Mortgage Trust, Series 2020-IG3, Class B, 3.291%, 9/15/48 (144A) | 1,340,387 |
3,030,000(b) | Benchmark Mortgage Trust, Series 2022-B34, Class AM, 3.831%, 4/15/55 | 2,518,321 |
1,303,096(a) | BSREP Commercial Mortgage Trust, Series 2021-DC, Class B, 6.826% (1 Month Term SOFR + 146 bps), 8/15/38 (144A) | 1,132,964 |
The accompanying notes are an integral part of these financial statements.
22Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Commercial Mortgage-Backed Securities—(continued) | |
7,615,000(b) | BX Commercial Mortgage Trust, Series 2021-VIV5, Class A, 2.843%, 3/9/44 (144A) | $ 6,503,279 |
17,400,000 | BX Trust, Series 2019-OC11, Class A, 3.202%, 12/9/41 (144A) | 15,359,105 |
13,115,000(a) | BX Trust, Series 2021-ARIA, Class D, 7.372% (1 Month Term SOFR + 201 bps), 10/15/36 (144A) | 12,489,408 |
4,869,730 | Citigroup Commercial Mortgage Trust, Series 2018-C5, Class A3, 3.963%, 6/10/51 | 4,662,686 |
38,844,815(b)(d) | COMM Mortgage Trust, Series 2014-CR18, Class XA, 0.912%, 7/15/47 | 51,869 |
605,498(a) | Freddie Mac Multifamily Structured Credit Risk, Series 2021-MN1, Class M1, 7.337% (SOFR30A + 200 bps), 1/25/51 (144A) | 587,458 |
6,790,000(a) | Freddie Mac Multifamily Structured Credit Risk, Series 2021-MN3, Class M2, 9.337% (SOFR30A + 400 bps), 11/25/51 (144A) | 6,291,063 |
2,500,000(b) | FREMF Mortgage Trust, Series 2017-KW03, Class B, 4.077%, 7/25/27 (144A) | 2,329,056 |
3,244,609(a) | FREMF Mortgage Trust, Series 2018-KSW4, Class B, 7.895% (SOFR30A + 256 bps), 10/25/28 | 3,038,031 |
1,745,000(a) | FREMF Mortgage Trust, Series 2018-KSW4, Class C, 10.445% (SOFR30A + 511 bps), 10/25/28 | 1,547,604 |
4,590,000(b) | FREMF Mortgage Trust, Series 2019-K88, Class C, 4.383%, 2/25/52 (144A) | 4,313,729 |
4,106,918(a) | FREMF Mortgage Trust, Series 2019-KF64, Class B, 7.745% (SOFR30A + 241 bps), 6/25/26 (144A) | 3,934,980 |
5,434,475(a) | FREMF Mortgage Trust, Series 2019-KF66, Class B, 7.845% (SOFR30A + 251 bps), 7/25/29 (144A) | 4,999,635 |
2,637,415(b) | FREMF Mortgage Trust, Series 2019-KJ24, Class B, 7.60%, 10/25/27 (144A) | 2,434,297 |
5,000,000(a) | FREMF Mortgage Trust, Series 2019-KS12, Class C, 12.345% (SOFR30A + 701 bps), 8/25/29 | 4,775,574 |
9,000,000(e) | FREMF Mortgage Trust, Series 2021-KG05, Class C, 0.000%, 1/25/31 (144A) | 4,864,595 |
110,994,422(d) | FREMF Mortgage Trust, Series 2021-KG05, Class X2A, 0.10%, 1/25/31 (144A) | 570,633 |
9,000,000(d) | FREMF Mortgage Trust, Series 2021-KG05, Class X2B, 0.10%, 1/25/31 (144A) | 43,381 |
2,674,216(b) | FRESB Mortgage Trust, Series 2018-SB52, Class A7F, 3.39%, 6/25/25 | 2,603,181 |
16,053,420(b)(d) | Government National Mortgage Association, Series 2017-21, Class IO, 0.633%, 10/16/58 | 550,876 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2323
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Commercial Mortgage-Backed Securities—(continued) | |
4,885,000(a) | GS Mortgage Securities Corportation Trust, Series 2021-IP, Class D, 7.576% (1 Month Term SOFR + 221 bps), 10/15/36 (144A) | $ 4,454,626 |
8,216,000 | ILPT Trust, Series 2019-SURF, Class A, 4.145%, 2/11/41 (144A) | 7,618,056 |
6,150,000 | JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-WPT, Class AFX, 4.248%, 7/5/33 (144A) | 5,398,779 |
7,010,000 | JPMDB Commercial Mortgage Securities Trust, Series 2018-C8, Class A4, 4.211%, 6/15/51 | 6,640,817 |
45,714,000(b)(d) | JPMDB Commercial Mortgage Securities Trust, Series 2018-C8, Class XB, 0.123%, 6/15/51 | 224,351 |
6,560,000 | Key Commercial Mortgage Securities Trust, Series 2019-S2, Class A3, 3.469%, 6/15/52 (144A) | 6,027,052 |
2,250,000(a) | MF1 Multifamily Housing Mortgage Loan Trust, Series 2021-FL5, Class D, 7.976% (1 Month Term SOFR + 261 bps), 7/15/36 (144A) | 2,196,419 |
2,628,500(b) | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C21, Class C, 4.126%, 3/15/48 | 2,014,891 |
6,330,000(b) | Morgan Stanley Capital I Trust, Series 2018-MP, Class A, 4.276%, 7/11/40 (144A) | 5,527,905 |
4,750,000(a) | ORL Trust, Series 2023-GLKS, Class A, 7.712% (1 Month Term SOFR + 235 bps), 10/19/36 (144A) | 4,749,989 |
2,000,000 | Palisades Center Trust, Series 2016-PLSD, Class A, 2.713%, 4/13/33 (144A) | 1,071,070 |
6,380,000(a) | Ready Capital Mortgage Financing LLC, Series 2021-FL7, Class D, 8.42% (1 Month Term SOFR + 306 bps), 11/25/36 (144A) | 6,055,824 |
248,568 | ReadyCap Commercial Mortgage Trust, Series 2019-6, Class A, 2.833%, 10/25/52 (144A) | 238,021 |
2,375,000(b) | Soho Trust, Series 2021-SOHO, Class A, 2.697%, 8/10/38 (144A) | 1,541,374 |
9,760,000(a) | Taubman Centers Commercial Mortgage Trust, Series 2022-DPM, Class B, 8.294% (1 Month Term SOFR + 293 bps), 5/15/37 (144A) | 9,622,029 |
11,150,000(b) | THPT Mortgage Trust, Series 2023-THL, Class A, 6.994%, 12/10/34 (144A) | 11,332,554 |
28,243,765(b)(d) | Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class XA, 0.871%, 9/15/57 | 333,980 |
The accompanying notes are an integral part of these financial statements.
24Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Commercial Mortgage-Backed Securities—(continued) | |
21,642,867(b)(d) | Wells Fargo Commercial Mortgage Trust, Series 2016-LC24, Class XA, 1.601%, 10/15/49 | $ 710,276 |
2,795,000 | Wells Fargo Commercial Mortgage Trust, Series 2019-C51, Class A4, 3.311%, 6/15/52 | 2,497,615 |
| Total Commercial Mortgage-Backed Securities (Cost $198,128,010) | $176,273,568 |
|
|
| Corporate Bonds — 30.2% of Net Assets | |
| Aerospace & Defense — 0.5% | |
13,240,000 | Boeing Co., 3.90%, 5/1/49 | $ 10,485,594 |
5,437,000 | Boeing Co., 5.15%, 5/1/30 | 5,534,926 |
7,995,000 | Boeing Co., 5.805%, 5/1/50 | 8,279,231 |
| Total Aerospace & Defense | $24,299,751 |
|
|
| Airlines — 0.5% | |
4,725,144 | Air Canada 2017-1 Class AA Pass Through Trust, 3.30%, 1/15/30 (144A) | $ 4,240,410 |
1,201,200 | American Airlines 2021-1 Class B Pass Through Trust, 3.95%, 7/11/30 | 1,066,150 |
11,750,000 | Delta Air Lines, Inc./SkyMiles IP, Ltd., 4.75%, 10/20/28 (144A) | 11,555,990 |
3,891,881 | JetBlue 2019-1 Class AA Pass Through Trust, 2.75%, 5/15/32 | 3,282,979 |
1,436,193 | JetBlue 2020-1 Class A Pass Through Trust, 4.00%, 11/15/32 | 1,314,729 |
1,672,000 | United Airlines 2020-1 Class B Pass Through Trust, 4.875%, 1/15/26 | 1,619,552 |
| Total Airlines | $23,079,810 |
|
|
| Auto Manufacturers — 1.2% | |
3,640,000 | Ford Motor Co., 6.10%, 8/19/32 | $ 3,669,233 |
6,150,000 | Ford Motor Credit Co. LLC, 3.625%, 6/17/31 | 5,302,214 |
3,140,000 | Ford Motor Credit Co. LLC, 7.35%, 3/6/30 | 3,373,305 |
6,464,000 | General Motors Co., 6.60%, 4/1/36 | 6,918,136 |
1,605,000 | General Motors Financial Co., Inc., 3.10%, 1/12/32 | 1,366,444 |
12,850,000 | General Motors Financial Co., Inc., 6.10%, 1/7/34 | 13,230,473 |
7,475,000 | General Motors Financial Co., Inc., 6.40%, 1/9/33 | 7,954,168 |
8,805,000 | Hyundai Capital America, 5.80%, 4/1/30 (144A) | 9,070,864 |
4,380,000 | Hyundai Capital America, 6.20%, 9/21/30 (144A) | 4,611,637 |
| Total Auto Manufacturers | $55,496,474 |
|
|
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2325
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Auto Parts & Equipment — 0.1% | |
2,640,000 | ZF North America Capital, Inc., 6.875%, 4/14/28 (144A) | $ 2,744,591 |
| Total Auto Parts & Equipment | $2,744,591 |
|
|
| Banks — 10.1% | |
20,600,000(b) | ABN AMRO Bank NV, 3.324% (5 Year CMT Index + 190 bps), 3/13/37 (144A) | $ 16,448,400 |
14,720,000(b) | AIB Group Plc, 4.263% (3 Month USD LIBOR + 187 bps), 4/10/25 (144A) | 14,641,594 |
17,000,000(b) | Banco Santander S.A., 3.225% (1 Year CMT Index + 160 bps), 11/22/32 | 14,235,496 |
3,200,000 | Banco Santander S.A., 6.921%, 8/8/33 | 3,410,130 |
6,600,000 | Banco Santander S.A., 6.938%, 11/7/33 | 7,327,246 |
2,800,000 | Banco Santander SA, 2.749%, 12/3/30 | 2,324,270 |
11,055,000(b) | Bank of America Corp., 2.572% (SOFR + 121 bps), 10/20/32 | 9,165,388 |
18,900,000(b) | Bank of America Corp., 2.884% (3 Month Term SOFR + 145 bps), 10/22/30 | 16,764,609 |
6,930,000(b) | Bank of America Corp., 5.872% (SOFR + 184 bps), 9/15/34 | 7,254,117 |
4,385,000(b) | Bank of New York Mellon Corp., 5.834% (SOFR + 207 bps), 10/25/33 | 4,648,804 |
19,195,000(b) | Bank of Nova Scotia, 4.588% (5 Year CMT Index + 205 bps), 5/4/37 | 17,169,277 |
10,825,000(b) | Barclays Plc, 5.746% (1 Year CMT Index + 300 bps), 8/9/33 | 10,951,782 |
1,105,000(b) | Barclays Plc, 6.224% (SOFR + 298 bps), 5/9/34 | 1,146,080 |
6,285,000(b) | Barclays Plc, 6.692% (SOFR + 262 bps), 9/13/34 | 6,718,661 |
4,435,000(b) | Barclays Plc, 7.437% (1 Year CMT Index + 350 bps), 11/2/33 | 4,965,975 |
7,275,000(b) | BNP Paribas S.A., 2.159% (SOFR + 122 bps), 9/15/29 (144A) | 6,327,489 |
11,470,000(b) | BPCE S.A., 3.116% (SOFR + 173 bps), 10/19/32 (144A) | 9,352,300 |
5,625,000(b) | BPCE S.A., 3.648% (5 Year CMT Index + 190 bps), 1/14/37 (144A) | 4,620,600 |
8,605,000(b) | CaixaBank S.A., 6.84% (SOFR + 277 bps), 9/13/34 (144A) | 9,086,153 |
7,440,000(b) | Citigroup, Inc., 2.52% (SOFR + 118 bps), 11/3/32 | 6,132,907 |
5,530,000(b) | Citigroup, Inc., 4.91% (SOFR + 209 bps), 5/24/33 | 5,414,232 |
10,660,000(b) | Comerica Bank, 5.332% (SOFR + 261 bps), 8/25/33 | 9,788,436 |
7,000,000(b) | Goldman Sachs Group, Inc., 2.65% (SOFR + 126 bps), 10/21/32 | 5,833,183 |
The accompanying notes are an integral part of these financial statements.
26Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Banks — (continued) | |
5,815,000(b) | Goldman Sachs Group, Inc., 4.223% (3 Month Term SOFR + 156 bps), 5/1/29 | $ 5,625,007 |
10,240,000(b) | HSBC Holdings Plc, 2.206% (SOFR + 129 bps), 8/17/29 | 8,938,758 |
11,015,000(b) | HSBC Holdings Plc, 2.871% (SOFR + 141 bps), 11/22/32 | 9,151,122 |
5,835,000(b) | HSBC Holdings Plc, 6.161% (SOFR + 197 bps), 3/9/29 | 6,025,149 |
1,800,000(b) | ING Groep NV, 4.252% (SOFR + 207 bps), 3/28/33 | 1,687,482 |
775,000(b) | ING Groep NV, 6.114% (SOFR + 209 bps), 9/11/34 | 812,794 |
15,574,000(b)(f) | ING Groep NV, 4.25% (5 Year CMT Index + 286 bps) | 11,327,959 |
900,000(b) | Intesa Sanpaolo S.p.A., 4.198% (1 Year CMT Index + 260 bps), 6/1/32 (144A) | 742,111 |
7,560,000(b) | Intesa Sanpaolo S.p.A., 7.778% (1 Year CMT Index + 390 bps), 6/20/54 (144A) | 7,795,381 |
10,900,000 | Intesa Sanpaolo S.p.A., 7.80%, 11/28/53 (144A) | 11,967,889 |
6,480,000(b) | Intesa Sanpaolo S.p.A., 8.248% (1 Year CMT Index + 440 bps), 11/21/33 (144A) | 7,030,947 |
9,060,000(b) | JPMorgan Chase & Co., 2.545% (SOFR + 118 bps), 11/8/32 | 7,559,467 |
2,960,000(b) | JPMorgan Chase & Co., 4.586% (SOFR + 180 bps), 4/26/33 | 2,859,790 |
4,961,000 | KeyBank NA, 4.90%, 8/8/32 | 4,381,413 |
5,400,000(b) | Lloyds Banking Group Plc, 4.976% (1 Year CMT Index + 230 bps), 8/11/33 | 5,259,116 |
8,408,000(b) | Lloyds Banking Group Plc, 7.953% (1 Year CMT Index + 375 bps), 11/15/33 | 9,611,143 |
6,185,000(b)(f) | Lloyds Banking Group Plc, 8.00% (5 Year CMT Index + 391 bps) | 6,197,358 |
9,860,000(b) | Macquarie Group, Ltd., 2.691% (SOFR + 144 bps), 6/23/32 (144A) | 8,090,877 |
6,190,000(b) | Macquarie Group, Ltd., 2.871% (SOFR + 153 bps), 1/14/33 (144A) | 5,088,460 |
3,490,000(b) | Mitsubishi UFJ Financial Group, Inc., 2.494% (1 Year CMT Index + 97 bps), 10/13/32 | 2,926,906 |
9,845,000(b) | Morgan Stanley, 5.297% (SOFR + 262 bps), 4/20/37 | 9,580,142 |
1,830,000(b) | Morgan Stanley, 5.948% (5 Year CMT Index + 243 bps), 1/19/38 | 1,850,669 |
16,051,000(b)(f) | Nordea Bank Abp, 3.75% (5 Year CMT Index + 260 bps) (144A) | 12,679,447 |
6,295,000(b) | PNC Financial Services Group, Inc., 6.875% (SOFR + 228 bps), 10/20/34 | 6,988,317 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2327
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Banks — (continued) | |
6,210,000(b) | Santander Holdings USA, Inc., 2.49% (SOFR + 125 bps), 1/6/28 | $ 5,685,116 |
3,095,000(b) | Societe Generale S.A., 4.027% (1 Year CMT Index + 190 bps), 1/21/43 (144A) | 2,214,390 |
2,195,000(b) | Societe Generale SA, 2.797% (1 Year CMT Index + 130 bps), 1/19/28 (144A) | 2,021,466 |
9,594,000(b) | Standard Chartered Plc, 3.603% (1 Year CMT Index + 190 bps), 1/12/33 (144A) | 7,947,440 |
6,886,000(b) | Standard Chartered Plc, 6.296% (1 Year CMT Index + 258 bps), 7/6/34 (144A) | 7,226,484 |
5,985,000(b) | Truist Financial Corp., 7.161% (SOFR + 245 bps), 10/30/29 | 6,463,995 |
12,330,000(b) | UBS Group AG, 2.746% (1 Year CMT Index + 110 bps), 2/11/33 (144A) | 10,113,371 |
2,615,000(b) | UBS Group AG, 4.988% (1 Year CMT Index + 240 bps), 8/5/33 (144A) | 2,528,259 |
3,635,000(b) | UBS Group AG, 6.301% (1 Year CMT Index + 200 bps), 9/22/34 (144A) | 3,848,095 |
3,455,000(b)(f) | UBS Group AG, 9.25% (5 Year CMT Index + 476 bps) (144A) | 3,829,056 |
19,295,000(b) | UniCredit S.p.A., 2.569% (1 Year CMT Index + 230 bps), 9/22/26 (144A) | 18,138,151 |
4,578,000(b) | UniCredit S.p.A., 5.459% (5 Year CMT Index + 475 bps), 6/30/35 (144A) | 4,305,507 |
7,483,000(b) | UniCredit S.p.A., 7.296% (5 Year USD Swap Rate + 491 bps), 4/2/34 (144A) | 7,693,163 |
17,775,000(b) | US Bancorp, 2.491% (5 Year CMT Index + 95 bps), 11/3/36 | 13,785,067 |
10,220,000(b) | Wells Fargo & Co., 6.491% (SOFR + 206 bps), 10/23/34 | 11,118,214 |
| Total Banks | $454,822,607 |
|
|
| Chemicals — 0.5% | |
7,048,000 | Albemarle Corp., 5.05%, 6/1/32 | $ 6,878,782 |
9,792,000 | Albemarle Corp., 5.65%, 6/1/52 | 9,085,090 |
8,511,000 | OCI NV, 6.70%, 3/16/33 (144A) | 8,691,637 |
| Total Chemicals | $24,655,509 |
|
|
| Commercial Services — 1.0% | |
3,646,000 | Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.625%, 7/15/26 (144A) | $ 3,626,855 |
2,115,000 | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 S.a.r.l., 4.625%, 6/1/28 (144A) | 1,922,728 |
The accompanying notes are an integral part of these financial statements.
28Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Commercial Services — (continued) | |
1,230,000 | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 S.a.r.l., 4.625%, 6/1/28 (144A) | $ 1,124,054 |
4,500,000 | Ashtead Capital, Inc., 5.50%, 8/11/32 (144A) | 4,445,210 |
6,898,000 | Ashtead Capital, Inc., 5.95%, 10/15/33 (144A) | 7,027,680 |
8,480,000 | Element Fleet Management Corp., 6.319%, 12/4/28 (144A) | 8,757,863 |
6,660,000 | Garda World Security Corp., 4.625%, 2/15/27 (144A) | 6,421,503 |
5,385,000 | Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 1/15/28 (144A) | 5,353,598 |
5,470,000 | S&P Global, Inc., 5.25%, 9/15/33 (144A) | 5,722,804 |
| Total Commercial Services | $44,402,295 |
|
|
| Diversified Financial Services — 2.9% | |
13,916,000 | AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.30%, 1/30/32 | $ 12,111,507 |
7,725,000 | Air Lease Corp., 2.10%, 9/1/28 | 6,760,484 |
4,915,000 | Air Lease Corp., 2.875%, 1/15/32 | 4,158,879 |
6,235,000 | Air Lease Corp., 3.125%, 12/1/30 | 5,453,464 |
11,780,000 | Ally Financial, Inc., 4.75%, 6/9/27 | 11,367,211 |
4,240,000(b) | Ally Financial, Inc., 6.848% (SOFR + 282 bps), 1/3/30 | 4,356,149 |
1,815,000(b) | Ally Financial, Inc., 6.992% (SOFR + 326 bps), 6/13/29 | 1,874,456 |
2,120,000 | Ally Financial, Inc., 8.00%, 11/1/31 | 2,322,460 |
7,335,000 | Ameriprise Financial, Inc., 5.15%, 5/15/33 | 7,557,985 |
905,000 | Avolon Holdings Funding, Ltd., 3.95%, 7/1/24 (144A) | 892,835 |
11,740,000 | Avolon Holdings Funding, Ltd., 6.375%, 5/4/28 (144A) | 11,970,277 |
2,145,000 | B3 SA - Brasil Bolsa Balcao, 4.125%, 9/20/31 (144A) | 1,875,181 |
9,455,000(b) | Capital One Financial Corp., 2.359% (SOFR + 134 bps), 7/29/32 | 7,163,194 |
3,750,000(b) | Capital One Financial Corp., 5.247% (SOFR + 260 bps), 7/26/30 | 3,684,495 |
9,235,000(b) | Capital One Financial Corp., 5.268% (SOFR + 237 bps), 5/10/33 | 9,061,698 |
860,000(b) | Capital One Financial Corp., 5.817% (SOFR + 260 bps), 2/1/34 | 855,808 |
4,840,000(b) | Capital One Financial Corp., 6.377% (SOFR + 286 bps), 6/8/34 | 4,981,316 |
6,770,000(b) | Charles Schwab Corp., 5.853% (SOFR + 250 bps), 5/19/34 | 6,988,344 |
14,325,000 | Nomura Holdings, Inc., 2.999%, 1/22/32 | 12,076,203 |
4,645,000 | Nomura Holdings, Inc., 5.605%, 7/6/29 | 4,744,121 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2329
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Diversified Financial Services — (continued) | |
2,970,000 | OneMain Finance Corp., 9.00%, 1/15/29 | $ 3,139,970 |
8,559,000 | United Wholesale Mortgage LLC, 5.50%, 4/15/29 (144A) | 8,102,891 |
| Total Diversified Financial Services | $131,498,928 |
|
|
| Electric — 0.7% | |
6,305,000(b) | Algonquin Power & Utilities Corp., 4.75% (5 Year CMT Index + 325 bps), 1/18/82 | $ 5,327,725 |
2,125,000 | Entergy Louisiana LLC, 4.75%, 9/15/52 | 1,953,224 |
4,250,000 | Monongahela Power Co., 5.85%, 2/15/34 (144A) | 4,459,396 |
6,870,000 | Puget Energy, Inc., 2.379%, 6/15/28 | 6,140,543 |
6,583,000 | Puget Energy, Inc., 4.10%, 6/15/30 | 6,031,506 |
2,120,000 | Puget Energy, Inc., 4.224%, 3/15/32 | 1,917,734 |
3,935,000 | Vistra Operations Co. LLC, 6.95%, 10/15/33 (144A) | 4,141,336 |
| Total Electric | $29,971,464 |
|
|
| Energy-Alternate Sources — 0.0%† | |
246,582 | Alta Wind Holdings LLC, 7.00%, 6/30/35 (144A) | $ 212,667 |
| Total Energy-Alternate Sources | $212,667 |
|
|
| Entertainment — 0.2% | |
8,400,000 | Resorts World Las Vegas LLC/RWLV Capital, Inc., 4.625%, 4/16/29 (144A) | $ 7,320,264 |
2,700,000 | Resorts World Las Vegas LLC/RWLV Capital, Inc., 4.625%, 4/6/31 (144A) | 2,241,591 |
| Total Entertainment | $9,561,855 |
|
|
| Food — 0.8% | |
3,430,000 | JBS USA LUX S.A./JBS USA Food Co./JBS USA Finance, Inc., 3.00%, 2/2/29 | $ 3,017,009 |
1,654,000 | JBS USA LUX S.A./JBS USA Food Co./JBS USA Finance, Inc., 3.00%, 5/15/32 | 1,346,623 |
7,490,000 | JBS USA LUX S.A./JBS USA Food Co./JBS USA Finance, Inc., 5.75%, 4/1/33 | 7,419,493 |
2,335,000 | JBS USA LUX S.A./JBS USA Food Co./JBS USA Finance, Inc., 6.50%, 12/1/52 | 2,347,840 |
13,960,000 | Minerva Luxembourg S.A., 4.375%, 3/18/31 (144A) | 11,508,899 |
6,070,000 | Smithfield Foods, Inc., 2.625%, 9/13/31 (144A) | 4,694,822 |
5,935,000 | Smithfield Foods, Inc., 3.00%, 10/15/30 (144A) | 4,872,174 |
668,000 | Smithfield Foods, Inc., 5.20%, 4/1/29 (144A) | 639,309 |
| Total Food | $35,846,169 |
|
|
| Gas — 0.4% | |
2,810,000 | Boston Gas Co., 3.15%, 8/1/27 (144A) | $ 2,641,096 |
The accompanying notes are an integral part of these financial statements.
30Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Gas — (continued) | |
11,700,000 | KeySpan Gas East Corp., 5.994%, 3/6/33 (144A) | $ 11,897,709 |
1,525,272 | Nakilat, Inc., 6.267%, 12/31/33 (144A) | 1,590,096 |
| Total Gas | $16,128,901 |
|
|
| Hand & Machine Tools — 0.2% | |
4,125,000 | Kennametal, Inc., 2.80%, 3/1/31 | $ 3,472,686 |
3,755,000 | Regal Rexnord Corp., 6.30%, 2/15/30 (144A) | 3,852,296 |
| Total Hand & Machine Tools | $7,324,982 |
|
|
| Healthcare-Products — 0.2% | |
2,139,000 | Edwards Lifesciences Corp., 4.30%, 6/15/28 | $ 2,105,206 |
10,178,000 | Smith & Nephew Plc, 2.032%, 10/14/30 | 8,429,152 |
| Total Healthcare-Products | $10,534,358 |
|
|
| Healthcare-Services — 0.1% | |
2,500,000 | Elevance Health, Inc., 6.10%, 10/15/52 | $ 2,834,039 |
| Total Healthcare-Services | $2,834,039 |
|
|
| Insurance — 1.8% | |
12,416,000 | Brown & Brown, Inc., 4.20%, 3/17/32 | $ 11,323,990 |
1,680,000 | CNO Financial Group, Inc., 5.25%, 5/30/29 | 1,658,533 |
12,306,000 | CNO Global Funding, 2.65%, 1/6/29 (144A) | 10,660,256 |
2,720,000(b) | Farmers Exchange Capital III, 5.454% (3 Month USD LIBOR + 345 bps), 10/15/54 (144A) | 2,284,800 |
8,910,000(b) | Farmers Insurance Exchange, 4.747% (3 Month USD LIBOR + 323 bps), 11/1/57 (144A) | 6,850,037 |
16,962,000 | Liberty Mutual Insurance Co., 7.697%, 10/15/97 (144A) | 18,571,435 |
7,760,000 | Metropolitan Life Global Funding I, 5.15%, 3/28/33 (144A) | 7,894,707 |
14,190,000 | Nationwide Mutual Insurance Co., 4.35%, 4/30/50 (144A) | 11,374,034 |
9,700,000(b) | Nippon Life Insurance Co., 2.90% (5 Year CMT Index + 260 bps), 9/16/51 (144A) | 7,986,132 |
2,590,000 | Primerica, Inc., 2.80%, 11/19/31 | 2,190,779 |
635,000 | Teachers Insurance & Annuity Association of America, 6.85%, 12/16/39 (144A) | 731,598 |
| Total Insurance | $81,526,301 |
|
|
| Iron & Steel — 0.0%† | |
1,734,000 | Commercial Metals Co., 4.375%, 3/15/32 | $ 1,556,188 |
| Total Iron & Steel | $1,556,188 |
|
|
| Lodging — 0.4% | |
2,230,000 | Marriott International, Inc., 4.90%, 4/15/29 | $ 2,244,493 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2331
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Lodging — (continued) | |
14,805,000 | Marriott International, Inc., 3.50%, 10/15/32 | $ 13,199,468 |
2,845,000 | Marriott International, Inc., 4.625%, 6/15/30 | 2,793,766 |
| Total Lodging | $18,237,727 |
|
|
| Machinery-Diversified — 0.1% | |
6,395,000 | CNH Industrial Capital LLC, 4.55%, 4/10/28 | $ 6,308,546 |
| Total Machinery-Diversified | $6,308,546 |
|
|
| Mining — 0.4% | |
4,204,000 | Anglo American Capital Plc, 2.25%, 3/17/28 (144A) | $ 3,746,164 |
2,800,000 | Anglo American Capital Plc, 5.50%, 5/2/33 (144A) | 2,828,576 |
4,092,000 | AngloGold Ashanti Holdings Plc, 3.75%, 10/1/30 | 3,557,641 |
8,260,000 | First Quantum Minerals, Ltd., 8.625%, 6/1/31 (144A) | 7,000,350 |
| Total Mining | $17,132,731 |
|
|
| Multi-National — 0.2% | |
6,560,000 | Banque Ouest Africaine de Developpement, 4.70%, 10/22/31 (144A) | $ 5,577,837 |
2,030,000 | Banque Ouest Africaine de Developpement, 5.00%, 7/27/27 (144A) | 1,888,407 |
| Total Multi-National | $7,466,244 |
|
|
| Oil & Gas — 1.0% | |
18,980,000 | Aker BP ASA, 3.10%, 7/15/31 (144A) | $ 16,233,423 |
7,650,000 | ConocoPhillips Co., 5.55%, 3/15/54 | 8,118,592 |
1,225,000 | Harbour Energy Plc, 5.50%, 10/15/26 (144A) | 1,197,438 |
1,735,000 | Lundin Energy Finance BV, 2.00%, 7/15/26 (144A) | 1,599,007 |
11,125,000 | Phillips 66 Co., 3.75%, 3/1/28 | 10,700,782 |
7,773,000 | Valero Energy Corp., 6.625%, 6/15/37 | 8,520,419 |
| Total Oil & Gas | $46,369,661 |
|
|
| Oil & Gas Services — 0.1% | |
2,065,000 | Halliburton Co., 7.60%, 8/15/96 (144A) | $ 2,493,229 |
| Total Oil & Gas Services | $2,493,229 |
|
|
| Pharmaceuticals — 0.3% | |
1,180,000 | CVS Health Corp., 5.25%, 1/30/31 | $ 1,210,432 |
7,765,000 | CVS Health Corp., 5.25%, 2/21/33 | 7,937,189 |
2,720,000 | Teva Pharmaceutical Finance Netherlands III BV, 4.75%, 5/9/27 | 2,604,400 |
2,720,000 | Teva Pharmaceutical Finance Netherlands III BV, 5.125%, 5/9/29 | 2,597,726 |
| Total Pharmaceuticals | $14,349,747 |
|
|
The accompanying notes are an integral part of these financial statements.
32Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Pipelines — 2.3% | |
13,515,000 | Boardwalk Pipelines LP, 3.60%, 9/1/32 | $ 11,972,847 |
5,290,000(b) | Enbridge, Inc., 8.50% (5 Year CMT Index + 443 bps), 1/15/84 | 5,626,687 |
2,930,000 | Energy Transfer LP, 4.15%, 9/15/29 | 2,791,844 |
13,251,000 | Energy Transfer LP, 4.95%, 5/15/28 | 13,184,317 |
4,800,000 | Energy Transfer LP, 5.35%, 5/15/45 | 4,457,947 |
3,750,000 | Energy Transfer LP, 6.00%, 6/15/48 | 3,777,847 |
7,285,000(b)(f) | Energy Transfer LP, 7.125% (5 Year CMT Index + 531 bps) | 6,712,971 |
7,631,000 | EnLink Midstream Partners LP, 5.45%, 6/1/47 | 6,658,048 |
3,944,000 | EnLink Midstream Partners LP, 5.60%, 4/1/44 | 3,432,555 |
16,180,000 | Kinder Morgan, Inc., 5.45%, 8/1/52 | 15,474,979 |
7,725,000 | MPLX LP, 4.95%, 3/14/52 | 6,871,745 |
6,295,000 | NGPL PipeCo LLC, 3.25%, 7/15/31 (144A) | 5,465,836 |
620,000 | Venture Global LNG, Inc., 8.125%, 6/1/28 (144A) | 626,136 |
3,655,000 | Venture Global LNG, Inc., 8.375%, 6/1/31 (144A) | 3,653,108 |
1,440,000 | Venture Global LNG, Inc., 9.50%, 2/1/29 (144A) | 1,523,760 |
2,270,000 | Williams Cos., Inc., 7.75%, 6/15/31 | 2,541,491 |
7,360,000 | Williams Cos., Inc., 7.50%, 1/15/31 | 8,321,892 |
| Total Pipelines | $103,094,010 |
|
|
| REITs — 1.1% | |
8,169,000 | Healthcare Realty Holdings LP, 3.10%, 2/15/30 | $ 7,141,329 |
1,876,000 | Highwoods Realty LP, 2.60%, 2/1/31 | 1,458,190 |
406,000 | Highwoods Realty LP, 3.05%, 2/15/30 | 335,447 |
2,539,000 | Highwoods Realty LP, 4.125%, 3/15/28 | 2,338,182 |
7,870,000 | LXP Industrial Trust, 2.375%, 10/1/31 | 6,318,696 |
4,880,000 | LXP Industrial Trust, 2.70%, 9/15/30 | 4,041,859 |
16,163,000 | MPT Operating Partnership LP/MPT Finance Corp., 3.50%, 3/15/31 | 10,105,546 |
15,090,000 | Sun Communities Operating LP , 5.70%, 1/15/33 | 15,275,807 |
4,865,000 | UDR, Inc., 4.40%, 1/26/29 | 4,687,662 |
| Total REITs | $51,702,718 |
|
|
| Retail — 0.8% | |
1,675,000 | AutoNation, Inc., 1.95%, 8/1/28 | $ 1,440,258 |
1,675,000 | AutoNation, Inc., 2.40%, 8/1/31 | 1,342,626 |
7,335,000 | AutoNation, Inc., 3.85%, 3/1/32 | 6,517,557 |
3,775,000 | AutoNation, Inc., 4.75%, 6/1/30 | 3,646,051 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2333
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Retail — (continued) | |
10,890,000 | Darden Restaurants, Inc., 6.30%, 10/10/33 | $ 11,707,096 |
11,070,000 | Dollar Tree, Inc., 2.65%, 12/1/31 | 9,405,979 |
| Total Retail | $34,059,567 |
|
|
| Semiconductors — 0.8% | |
978,000 | Broadcom, Inc., 3.137%, 11/15/35 (144A) | $ 802,922 |
14,123,000 | Broadcom, Inc., 3.187%, 11/15/36 (144A) | 11,444,633 |
7,993,000 | Broadcom, Inc., 4.15%, 4/15/32 (144A) | 7,534,792 |
2,960,000 | Broadcom, Inc., 4.30%, 11/15/32 | 2,839,718 |
4,470,000 | Foundry JV Holdco LLC, 5.875%, 1/25/34 (144A) | 4,591,289 |
8,577,000 | Skyworks Solutions, Inc., 3.00%, 6/1/31 | 7,338,551 |
| Total Semiconductors | $34,551,905 |
|
|
| Software — 0.2% | |
12,416,000 | Autodesk, Inc., 2.40%, 12/15/31 | $ 10,622,909 |
| Total Software | $10,622,909 |
|
|
| Telecommunications — 0.9% | |
9,430,000 | Motorola Solutions, Inc., 2.30%, 11/15/30 | $ 7,962,297 |
4,420,000 | Motorola Solutions, Inc., 5.60%, 6/1/32 | 4,559,703 |
5,250,000 | T-Mobile USA, Inc., 2.70%, 3/15/32 | 4,474,057 |
16,860,000 | T-Mobile USA, Inc., 5.05%, 7/15/33 | 16,991,093 |
4,265,000 | T-Mobile USA, Inc., 5.20%, 1/15/33 | 4,371,999 |
3,850,000 | T-Mobile USA, Inc., 5.75%, 1/15/34 | 4,083,472 |
| Total Telecommunications | $42,442,621 |
|
|
| Transportation — 0.1% | |
2,235,000 | Norfolk Southern Corp., 5.95%, 3/15/64 | $ 2,493,681 |
| Total Transportation | $2,493,681 |
|
|
| Trucking & Leasing — 0.3% | |
2,897,000 | Penske Truck Leasing Co. LP/PTL Finance Corp., 4.40%, 7/1/27 (144A) | $ 2,824,637 |
8,305,000 | Penske Truck Leasing Co. LP/PTL Finance Corp., 5.55%, 5/1/28 (144A) | 8,432,424 |
1,345,000 | Penske Truck Leasing Co. LP/PTL Finance Corp., 6.05%, 8/1/28 (144A) | 1,394,075 |
| Total Trucking & Leasing | $12,651,136 |
|
|
| Total Corporate Bonds (Cost $1,449,804,232) | $1,360,473,321 |
|
|
The accompanying notes are an integral part of these financial statements.
34Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Municipal Bonds — 0.1% of Net Assets(g) | |
| Virginia — 0.1% | |
2,335,000 | Virginia Commonwealth Transportation Board, Transportation Capital Projects, 4.00%, 5/15/32 | $ 2,346,301 |
| Total Virginia | $ 2,346,301 |
|
|
| Total Municipal Bonds (Cost $2,453,151) | $ 2,346,301 |
|
|
| Insurance-Linked Securities — 4.1% of Net Assets# | |
| Event Linked Bonds — 1.9% | |
| Earthquakes – California — 0.0%† | |
1,000,000(a) | Phoenician Re, 8.266%, (3 Month U.S. Treasury Bill + 290 bps), 12/14/24 (144A) | $ 985,500 |
| Earthquakes – Mexico — 0.0%† | |
250,000(a) | International Bank for Reconstruction & Development, 9.061%, (3 Month Term SOFR + 376 bps), 3/13/24 (144A) | $ 249,500 |
| Earthquakes – U.S. — 0.0%† | |
750,000(a) | Ursa Re, 10.87%, (3 Month U.S. Treasury Bill + 550 bps), 12/6/25 (144A) | $ 750,525 |
500,000(a) | Veraison Re, 11.868%, (1 Month U.S. Treasury Bill + 650 bps), 3/9/26 (144A) | 517,050 |
| | | | | | $ 1,267,575 |
|
|
| Flood – U.S. — 0.1% | |
2,000,000(a) | FloodSmart Re, 17.198%, (3 Month U.S. Treasury Bill + 1,183 bps), 2/25/25 (144A) | $ 1,945,400 |
1,250,000(a) | FloodSmart Re, 18.947%, (3 Month U.S. Treasury Bill + 1,358 bps), 3/1/24 (144A) | 1,248,750 |
| | | | | | $ 3,194,150 |
|
|
| Health – U.S. — 0.2% | |
2,250,000(a) | Vitality Re XIII, 7.37%, (3 Month U.S. Treasury Bill + 200 bps), 1/6/26 (144A) | $ 2,210,625 |
6,000,000(a) | Vitality Re XIV, 8.868%, (3 Month U.S. Treasury Bill + 350 bps), 1/5/27 (144A) | 5,997,000 |
750,000(a) | Vitality Re XIV, 9.867%, (3 Month U.S. Treasury Bill + 450 bps), 1/5/27 (144A) | 749,325 |
| | | | | | $ 8,956,950 |
|
|
| Multiperil – U.S. — 0.6% | |
100,000(a) | Caelus Re V, 5.468%, (1 Month U.S. Treasury Bill + 10 bps), 6/5/24 (144A) | $ 80,000 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2335
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Multiperil – U.S. — (continued) | |
250,000(a) | Easton Re Pte, 9.871%, (3 Month U.S. Treasury Bill + 453 bps), 1/8/24 (144A) | $ 249,250 |
750,000(a) | Four Lakes Re, 5.75%, (3 Month U.S. Treasury Bill + 575 bps), 1/7/27 (144A) | 749,625 |
500,000(a) | Four Lakes Re, 9.638%, (3 Month U.S. Treasury Bill + 427 bps), 1/7/25 (144A) | 485,650 |
3,000,000(a) | Four Lakes Re, 11.87%, (3 Month U.S. Treasury Bill + 650 bps), 1/7/26 (144A) | 3,041,700 |
500,000(a) | Herbie Re, 15.087%, (3 Month U.S. Treasury Bill + 972 bps), 1/8/25 (144A) | 492,400 |
3,500,000(a) | High Point Re, 11.12%, (3 Month U.S. Treasury Bill + 575 bps), 1/6/27 (144A) | 3,498,250 |
2,000,000(a) | Matterhorn Re, 10.674%, (SOFR + 525 bps), 3/24/25 (144A) | 1,950,000 |
1,000,000(a) | Matterhorn Re, 13.174%, (SOFR + 775 bps), 3/24/25 (144A) | 984,000 |
3,400,000(a) | Mystic Re IV, 14.617%, (3 Month U.S. Treasury Bill + 925 bps), 1/8/26 (144A) | 3,505,740 |
1,000,000(a) | Mystic Re IV, 17.367%, (3 Month U.S. Treasury Bill + 1,200 bps), 1/8/27 (144A) | 999,500 |
1,000,000(a) | Residential Re, 11.118%, (1 Month U.S. Treasury Bill + 575 bps), 12/6/27 (144A) | 998,500 |
1,750,000(a) | Residential Re, 13.057%, (3 Month U.S. Treasury Bill + 769 bps), 12/6/26 (144A) | 1,780,275 |
2,500,000(a) | Residential Re, 13.868%, (1 Month U.S. Treasury Bill + 850 bps), 12/6/27 (144A) | 2,496,250 |
2,750,000(a) | Sanders Re II, 8.418%, (3 Month U.S. Treasury Bill + 305 bps), 4/7/25 (144A) | 2,627,075 |
1,000,000(a) | Sanders Re III, 11.62%, (3 Month U.S. Treasury Bill + 625 bps), 4/7/27 (144A) | 1,017,900 |
| | | | | | $ 24,956,115 |
|
|
| Multiperil – U.S. & Canada — 0.1% | |
750,000(a) | Galileo Re, 12.367%, (3 Month U.S. Treasury Bill + 700 bps), 1/8/26 (144A) | $ 748,875 |
1,250,000(a) | Galileo Re, 12.37%, (3 Month U.S. Treasury Bill + 700 bps), 1/7/28 (144A) | 1,248,125 |
250,000(a) | Matterhorn Re, 11.159%, (SOFR + 575 bps), 12/8/25 (144A) | 230,300 |
The accompanying notes are an integral part of these financial statements.
36Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| Multiperil – U.S. & Canada — (continued) | |
1,000,000(a) | Mona Lisa Re, 17.867%, (3 Month U.S. Treasury Bill + 1,250 bps), 1/8/26 (144A) | $ 1,073,000 |
750,000(a) | Northshore Re II, 13.368%, (3 Month U.S. Treasury Bill + 800 bps), 7/8/25 (144A) | 767,400 |
| | | | | | $ 4,067,700 |
|
|
| Multiperil – U.S. Regional — 0.1% | |
850,000(a) | Aquila Re I, 12.867%, (3 Month U.S. Treasury Bill + 750 bps), 6/8/26 (144A) | $ 865,810 |
1,000,000(a) | Kilimanjaro III Re, 5.25%, (3 Month U.S. Treasury Bill + 525 bps), 6/25/25 (144A) | 1,001,000 |
1,000,000(a) | Locke Tavern Re, 4.75%, (3 Month U.S. Treasury Bill + 475 bps), 4/9/26 (144A) | 1,008,600 |
3,500,000(a) | Long Point Re IV, 9.618%, (3 Month U.S. Treasury Bill + 425 bps), 6/1/26 (144A) | 3,454,850 |
1,250,000(a) | Matterhorn Re, 10.37%, (3 Month U.S. Treasury Bill + 500 bps), 1/8/27 (144A) | 437,500 |
| | | | | | $ 6,767,760 |
|
|
| Multiperil – Worldwide — 0.1% | |
750,000(a) | 2001 Cat Re, 17.867%, (3 Month U.S. Treasury Bill + 1,250 bps), 1/8/27 (144A) | $ 751,875 |
2,000,000(a) | Atlas Capital, 12.656%, (SOFR + 725 bps), 6/5/26 (144A) | 1,998,200 |
| | | | | | $ 2,750,075 |
|
|
| Pandemic – U.S — 0.0%† | |
1,750,000(a) | Vitality Re XI, 7.17%, (3 Month U.S. Treasury Bill + 180 bps), 1/9/24 (144A) | $ 1,744,750 |
| Windstorm – Florida — 0.2% | |
2,000,000(a) | Everglades Re II, 5.37%, (1 Month U.S. Treasury Bill + 0 bps), 1/16/24 (144A) | $ 1,993,000 |
4,100,000(a) | Everglades Re II, 11.973%, (1 Month U.S. Treasury Bill + 661 bps), 5/14/24 (144A) | 4,130,750 |
2,450,000(a) | Everglades Re II, 12.995%, (1 Month U.S. Treasury Bill + 763 bps), 5/14/24 (144A) | 2,478,175 |
750,000(a) | Integrity Re, 12.44%, (3 Month U.S. Treasury Bill + 707 bps), 6/6/25 (144A) | 718,800 |
| | | | | | $ 9,320,725 |
|
|
| Windstorm – Mexico — 0.0%† | |
300,000(a) | International Bank for Reconstruction & Development, 15.641%, (3 Month Term SOFR + 1,026 bps), 3/13/24 (144A) | $ 299,400 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2337
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| Windstorm – North Carolina — 0.1% | |
1,750,000(a) | Blue Ridge Re, 8.00%, (1 Month U.S. Treasury Bill + 800 bps), 1/8/27 (144A) | $ 1,747,375 |
1,000,000(a) | Blue Ridge Re, 10.617%, (3 Month U.S. Treasury Bill + 525 bps), 1/8/27 (144A) | 998,500 |
1,750,000(a) | Cape Lookout Re, 9.068%, (1 Month U.S. Treasury Bill + 370 bps), 3/22/24 (144A) | 1,744,750 |
| | | | | | $ 4,490,625 |
| |
| |
| Windstorm – Texas — 0.1% | | |
2,273,000(a) | Alamo Re, 12.548%, (3 Month U.S. Treasury Bill + 718 bps), 6/7/24 (144A) | $ 2,300,276 | |
| Windstorm – U.S. — 0.2% | | |
1,250,000(a) | Alamo Re, 13.87%, (1 Month U.S. Treasury Bill + 850 bps), 6/7/26 (144A) | $ 1,273,750 | |
250,000(a) | Bonanza Re, 11.15%, (3 Month U.S. Treasury Bill + 578 bps), 3/16/25 (144A) | 236,375 | |
300,000(a) | Bonanza Re, 13.617%, (3 Month U.S. Treasury Bill + 825 bps), 1/8/26 (144A) | 299,490 | |
1,100,000(a) | Cape Lookout Re, 11.868%, (1 Month U.S. Treasury Bill + 650 bps), 4/28/26 (144A) | 1,119,470 | |
700,000(a) | Gateway Re, 18.368%, (1 Month U.S. Treasury Bill + 1,300 bps), 2/24/26 (144A) | 728,490 | |
250,000(a) | Gateway Re II, 14.867%, (3 Month U.S. Treasury Bill + 950 bps), 4/27/26 (144A) | 252,300 | |
3,000,000(a) | Queen Street 2023 Re, 12.868%, (3 Month U.S. Treasury Bill + 750 bps), 12/8/25 (144A) | 3,052,800 | |
| | | | | | $ 6,962,675 | |
| |
| |
| Windstorm – U.S. Multistate — 0.0%† | | |
1,000,000(a) | Gateway Re, 5.37%, (3 Month U.S. Treasury Bill + 0 bps), 1/9/24 (144A) | $ 996,500 | |
| Windstorm – U.S. Regional — 0.0%† | | |
1,000,000(a) | Commonwealth Re, 8.906%, (3 Month U.S. Treasury Bill + 354 bps), 7/8/25 (144A) | $ 994,300 | |
| Winterstorm – Florida — 0.1% | | |
1,500,000(a) | Integrity Re, 17.368%, (1 Month U.S. Treasury Bill + 1,200 bps), 6/6/25 (144A) | $ 1,557,000 | |
1,000,000(a) | Lightning Re, 16.367%, (3 Month U.S. Treasury Bill + 1,100 bps), 3/31/26 (144A) | 1,056,000 | |
| | | | | | $ 2,613,000 | |
| |
| |
| Total Event Linked Bonds | $ 82,917,576 | |
| |
| |
The accompanying notes are an integral part of these financial statements.
38Pioneer Bond Fund | Semiannual Report | 12/31/23
Face Amount USD ($) | | | | | | Value |
| Collateralized Reinsurance — 0.5% | |
| Multiperil – Massachusetts — 0.0%† | |
500,000(h)(i) + | Portsalon Re 2022, 5/31/28 | $ 458,460 |
| Multiperil – U.S. — 0.4% | |
8,000,000(h)(i) + | Ballybunion Re 2020, 2/29/24 | $ 903,792 |
2,250,000(h)(i) + | Ballybunion Re 2021-3, 7/31/25 | 50,308 |
1,750,000(h)(i) + | Ballybunion Re 2022, 12/31/27 | 33,163 |
3,000,000(h)(i) + | Ballybunion Re 2022-2, 5/31/28 | 3,046,530 |
4,000,000(h)(i) + | Ballybunion Re 2022-3, 6/30/28 | 4,138,433 |
3,500,000(h)(i) + | Ballybunion Re 2023, 12/31/28 | 3,899,668 |
5,750,000(h)(i) + | Gamboge Re, 3/31/29 | 6,030,600 |
| | | | | | $ 18,102,494 |
|
|
| Multiperil – Worldwide — 0.1% | |
1,000,000(h)(i) + | Clarendon Re 2023, 12/31/28 | $ 1,058,500 |
167,000(i) + | Limestone Re 2019-2B, 12/31/24 (144A) | 298 |
1,420,000(i) + | Limestone Re 2020-1, 3/1/24 (144A) | — |
480,000(i) + | Limestone Re 2020-1, 3/1/24 (144A) | — |
500,000(h)(i) + | Merion Re 2023-1, 12/31/28 | 527,343 |
250,000(h)(i) + | Old Head Re 2022, 12/31/27 | 125,000 |
250,000(h)(i) + | Old Head Re 2023, 12/31/28 | 260,225 |
1,000,000(h)(i) + | Pine Valley Re 2023, 12/31/28 | — |
250,000(h)(i) + | Porthcawl Re 2023, 12/31/28 | 261,350 |
350,000(h)(i) + | Walton Health Re 2019, 6/30/24 | 88,088 |
2,500,000(h)(i) + | Walton Health Re 2022, 12/15/27 | 364,384 |
| | | | | | $ 2,685,188 |
|
|
| Windstorm – Florida — 0.0%† | |
1,500,000(h)(i) + | Formby Re 2018, 2/29/24 | $ — |
| Windstorm – North Carolina — 0.0%† | |
250,000(i) + | Isosceles Re 2023, 4/30/29 | $ 249,750 |
1,750,000(i) + | Isosceles Re 2023, 4/30/29 | — |
450,000(i) + | Isosceles Re 2023, 4/30/29 | — |
| | | | | | $ 249,750 |
|
|
| Windstorm – U.S. Multistate — 0.0%† | |
1,250,000(h)(i) + | White Heron Re 2023, 5/31/29 | $ 1,267,336 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2339
Schedule of Investments | 12/31/23
(unaudited) (continued)
Face Amount USD ($) | | | | | | Value |
| Windstorm – U.S. Regional — 0.0%† | |
7,255,240(h)(i) + | Oakmont Re 2020, 4/30/24 | $ — |
4,500,000(h)(i) + | Oakmont Re 2022, 4/1/28 | 1,415,275 |
| | | | | | $ 1,415,275 |
|
|
| Total Collateralized Reinsurance | $24,178,503 |
|
|
| Reinsurance Sidecars — 1.7% | |
| Multiperil – U.S. — 0.0%† | |
2,000,000(h)(i) + | Carnoustie Re 2020, 12/31/24 | $ 230,656 |
2,000,000(h)(j) + | Harambee Re 2018, 12/31/24 | — |
5,000,000(j) + | Harambee Re 2019, 12/31/24 | 7,500 |
4,000,000(h)(j) + | Harambee Re 2020, 12/31/24 | 61,600 |
| | | | | | $ 299,756 |
|
|
| Multiperil – Worldwide — 1.7% | |
225,450(h)(j) + | Alturas Re 2020-3, 9/30/24 | $ — |
213,682(h)(j) + | Alturas Re 2021-3, 7/31/25 | 11,111 |
3,497,182(h)(j) + | Alturas Re 2022-2, 12/31/27 | 905,770 |
5,000,000(h)(i) + | Bantry Re 2021, 12/31/24 | 60,000 |
6,000,000(h)(i) + | Bantry Re 2023, 12/31/28 | 7,389,000 |
7,281,734(h)(i) + | Berwick Re 2019-1, 12/31/24 | 873,808 |
3,000,000(h)(i) + | Berwick Re 2020-1, 12/31/24 | 300 |
4,500,000(h)(i) + | Berwick Re 2022, 12/31/27 | 86,757 |
4,500,000(h)(i) + | Berwick Re 2023, 12/31/28 | 5,111,306 |
5,000,000(i) + | Eccleston Re 2023, 11/30/28 | 696,437 |
640,000(h)(i) + | Eden Re II, 3/22/24 (144A) | 179,840 |
210,000(h)(i) + | Eden Re II, 3/22/24 (144A) | 60,060 |
624,097(h)(i) + | Eden Re II, 3/21/25 (144A) | 96,049 |
1,040,000(h)(i) + | Eden Re II, 3/20/26 (144A) | 306,696 |
3,600,000(h)(i) + | Eden Re II, 3/19/27 (144A) | 4,280,400 |
1,250,000(h)(i) + | Gleneagles Re 2021, 12/31/24 | 125 |
1,250,000(h)(i) + | Gleneagles Re 2022, 12/31/27 | 594,125 |
2,118,314(h)(i) + | Gullane Re 2018, 12/31/24 | 100,036 |
6,381,951(h)(i) + | Gullane Re 2023, 12/31/28 | 8,033,160 |
500,000(h)(j) + | Lion Rock Re 2020, 1/31/24 | — |
500,000(h)(j) + | Lion Rock Re 2021, 12/31/24 | 55,900 |
2,993,180(h)(j) + | Lorenz Re 2019, 6/30/24 | 28,735 |
7,000,000(h)(i) + | Merion Re 2018-2, 12/31/24 | 349,888 |
9,000,000(h)(i) + | Merion Re 2021-2, 12/31/24 | 1,444,500 |
6,551,154(h)(i) + | Merion Re 2022-2, 12/31/27 | 6,211,224 |
4,750,000(h)(i) + | Pangaea Re 2023-1, 12/31/28 | 5,774,493 |
2,970,693(h)(i) + | Pangaea Re 2023-3, 5/31/29 | 3,370,579 |
1,250,000(h)(i) + | Phoenix 3 Re 2023-3, 1/4/27 | 1,404,750 |
The accompanying notes are an integral part of these financial statements.
40Pioneer Bond Fund | Semiannual Report | 12/31/23
Face Amount USD ($) | | | | | | Value |
| Multiperil – Worldwide — (continued) | |
2,000,000(h)(i) + | RosaPenna Re 2022, 6/30/28 | $ 1,923,211 |
600,000(h)(i) + | Sector Re V, 3/1/24 (144A) | 315,994 |
1,914(h)(i) + | Sector Re V, 3/1/24 (144A) | 47,184 |
99,999(h)(i) + | Sector Re V, 12/1/24 (144A) | 179,926 |
200,000(h)(i) + | Sector Re V, 12/1/24 (144A) | 359,856 |
10,000(a)(i) + | Sector Re V, 12/1/26 (144A) | 34,663 |
84,000(a)(i) + | Sector Re V, 12/1/26 (144A) | 291,166 |
4,605,987(h)(i) + | Sector Re V, 12/1/27 (144A) | 5,932,511 |
5,000,000(h)(i) + | Sector Re V, 12/1/28 (144A) | 5,072,781 |
3,609,700(h)(i) + | Sussex Re 2020-1, 12/31/24 | 4,693 |
1,250,000(i) + | Sussex Re 2021-1, 12/31/24 | 875 |
3,000,000(h)(j) + | Thopas Re 2019, 12/31/24 | 41,400 |
6,000,000(h)(j) + | Thopas Re 2020, 12/31/24 | 1,200 |
7,000,000(h)(j) + | Thopas Re 2021, 12/31/24 | 112,700 |
4,000,000(j) + | Thopas Re 2022, 12/31/27 | 32,400 |
4,256,392(h)(j) + | Thopas Re 2023, 12/31/28 | 5,380,931 |
4,228,426(j) + | Torricelli Re 2021, 7/31/25 | 105,711 |
4,500,000(j) + | Torricelli Re 2022, 6/30/28 | 100,800 |
4,500,000(h)(j) + | Torricelli Re 2023, 6/30/29 | 5,338,890 |
1,000,000(h)(j) + | Viribus Re 2018, 12/31/24 | — |
3,650,000(h)(j) + | Viribus Re 2019, 12/31/24 | 11,315 |
4,139,570(h)(j) + | Viribus Re 2020, 12/31/24 | 137,434 |
3,000,000(h)(j) + | Viribus Re 2022, 12/31/27 | 110,100 |
2,000,000(h)(j) + | Viribus Re 2023, 12/31/28 | 2,765,000 |
4,979,452(h)(i) + | Woburn Re 2019, 12/31/24 | 833,660 |
| | | | | | $ 76,559,450 |
|
|
| Total Reinsurance Sidecars | $76,859,206 |
|
|
| Total Insurance-Linked Securities (Cost $171,437,143) | $183,955,285 |
|
|
Principal Amount USD ($) | | | | | | |
| U.S. Government and Agency Obligations — 51.5% of Net Assets | |
49,785,043 | Federal Home Loan Mortgage Corp., 1.500%, 3/1/42 | $ 41,253,551 |
296,065 | Federal Home Loan Mortgage Corp., 2.000%, 2/1/42 | 253,442 |
3,707,366 | Federal Home Loan Mortgage Corp., 2.000%, 3/1/52 | 3,032,876 |
2,101,052 | Federal Home Loan Mortgage Corp., 2.500%, 2/1/51 | 1,824,752 |
31,852,822 | Federal Home Loan Mortgage Corp., 2.500%, 5/1/51 | 27,311,471 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2341
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
6,461,859 | Federal Home Loan Mortgage Corp., 2.500%, 12/1/51 | $ 5,495,884 |
4,148,372 | Federal Home Loan Mortgage Corp., 2.500%, 4/1/52 | 3,530,167 |
4,918,283 | Federal Home Loan Mortgage Corp., 2.500%, 5/1/52 | 4,234,389 |
18,460,895 | Federal Home Loan Mortgage Corp., 2.500%, 6/1/52 | 15,709,407 |
490,568 | Federal Home Loan Mortgage Corp., 3.000%, 10/1/29 | 473,261 |
474,822 | Federal Home Loan Mortgage Corp., 3.000%, 9/1/42 | 439,175 |
2,403,669 | Federal Home Loan Mortgage Corp., 3.000%, 11/1/42 | 2,217,241 |
2,788,235 | Federal Home Loan Mortgage Corp., 3.000%, 12/1/46 | 2,544,348 |
43,405 | Federal Home Loan Mortgage Corp., 3.000%, 10/1/48 | 39,049 |
1,168,380 | Federal Home Loan Mortgage Corp., 3.000%, 8/1/50 | 1,052,773 |
941,489 | Federal Home Loan Mortgage Corp., 3.000%, 8/1/50 | 848,655 |
1,022,042 | Federal Home Loan Mortgage Corp., 3.000%, 1/1/52 | 908,041 |
42,574,820 | Federal Home Loan Mortgage Corp., 3.000%, 4/1/52 | 37,665,094 |
3,046,029 | Federal Home Loan Mortgage Corp., 3.000%, 8/1/52 | 2,732,623 |
1,716,735 | Federal Home Loan Mortgage Corp., 3.000%, 9/1/52 | 1,518,163 |
1,127,332 | Federal Home Loan Mortgage Corp., 3.000%, 4/1/53 | 997,155 |
92,047 | Federal Home Loan Mortgage Corp., 3.500%, 7/1/45 | 86,649 |
2,160,764 | Federal Home Loan Mortgage Corp., 3.500%, 7/1/46 | 2,043,262 |
10,878,964 | Federal Home Loan Mortgage Corp., 3.500%, 12/1/46 | 10,207,246 |
3,178,303 | Federal Home Loan Mortgage Corp., 3.500%, 3/1/48 | 2,980,056 |
50,627 | Federal Home Loan Mortgage Corp., 3.500%, 1/1/52 | 46,707 |
3,455,208 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 3,198,496 |
259,750 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 238,307 |
2,920,240 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 2,710,202 |
1,108,538 | Federal Home Loan Mortgage Corp., 4.000%, 10/1/42 | 1,078,763 |
15,836 | Federal Home Loan Mortgage Corp., 4.000%, 11/1/42 | 15,404 |
3,274,536 | Federal Home Loan Mortgage Corp., 4.000%, 5/1/44 | 3,185,223 |
427,770 | Federal Home Loan Mortgage Corp., 4.000%, 4/1/47 | 410,986 |
365,826 | Federal Home Loan Mortgage Corp., 4.000%, 6/1/50 | 350,239 |
200,527 | Federal Home Loan Mortgage Corp., 4.000%, 4/1/51 | 190,125 |
181,317 | Federal Home Loan Mortgage Corp., 4.000%, 9/1/51 | 171,483 |
192,705 | Federal Home Loan Mortgage Corp., 4.000%, 6/1/52 | 182,266 |
1,000,097 | Federal Home Loan Mortgage Corp., 4.500%, 5/1/42 | 998,811 |
The accompanying notes are an integral part of these financial statements.
42Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
39,605 | Federal Home Loan Mortgage Corp., 4.500%, 3/1/47 | $ 39,505 |
1,999,541 | Federal Home Loan Mortgage Corp., 4.500%, 3/1/53 | 1,943,287 |
627,996 | Federal Home Loan Mortgage Corp., 4.500%, 5/1/53 | 610,091 |
4,832 | Federal Home Loan Mortgage Corp., 5.000%, 5/1/40 | 4,910 |
178,873 | Federal Home Loan Mortgage Corp., 5.000%, 3/1/44 | 181,771 |
342,293 | Federal Home Loan Mortgage Corp., 5.000%, 10/1/49 | 340,003 |
5,777,424 | Federal Home Loan Mortgage Corp., 5.000%, 8/1/50 | 5,783,860 |
1,692,090 | Federal Home Loan Mortgage Corp., 5.000%, 12/1/50 | 1,688,651 |
1,950,903 | Federal Home Loan Mortgage Corp., 5.000%, 9/1/52 | 1,975,018 |
2,292,884 | Federal Home Loan Mortgage Corp., 5.000%, 10/1/52 | 2,321,226 |
457,370 | Federal Home Loan Mortgage Corp., 5.000%, 3/1/53 | 452,587 |
1,730,281 | Federal Home Loan Mortgage Corp., 5.000%, 4/1/53 | 1,712,221 |
480,430 | Federal Home Loan Mortgage Corp., 5.000%, 4/1/53 | 475,854 |
233,636 | Federal Home Loan Mortgage Corp., 5.000%, 4/1/53 | 231,246 |
328,948 | Federal Home Loan Mortgage Corp., 5.000%, 4/1/53 | 326,284 |
198,798 | Federal Home Loan Mortgage Corp., 5.000%, 6/1/53 | 197,556 |
2,635 | Federal Home Loan Mortgage Corp., 5.500%, 11/1/34 | 2,677 |
44,207 | Federal Home Loan Mortgage Corp., 5.500%, 8/1/35 | 45,590 |
36,909 | Federal Home Loan Mortgage Corp., 5.500%, 1/1/39 | 38,009 |
325,019 | Federal Home Loan Mortgage Corp., 5.500%, 6/1/41 | 334,727 |
3,091,265 | Federal Home Loan Mortgage Corp., 5.500%, 7/1/49 | 3,149,415 |
470,936 | Federal Home Loan Mortgage Corp., 5.500%, 3/1/53 | 475,783 |
1,444,319 | Federal Home Loan Mortgage Corp., 5.500%, 3/1/53 | 1,452,922 |
184,906 | Federal Home Loan Mortgage Corp., 5.500%, 3/1/53 | 187,237 |
493,574 | Federal Home Loan Mortgage Corp., 5.500%, 4/1/53 | 496,084 |
443,150 | Federal Home Loan Mortgage Corp., 5.500%, 4/1/53 | 445,373 |
272,387 | Federal Home Loan Mortgage Corp., 5.500%, 4/1/53 | 274,614 |
233,160 | Federal Home Loan Mortgage Corp., 5.500%, 4/1/53 | 234,189 |
2,002,403 | Federal Home Loan Mortgage Corp., 5.500%, 4/1/53 | 2,014,673 |
1,330,816 | Federal Home Loan Mortgage Corp., 5.500%, 6/1/53 | 1,346,037 |
399,803 | Federal Home Loan Mortgage Corp., 5.500%, 7/1/53 | 406,008 |
346,604 | Federal Home Loan Mortgage Corp., 5.500%, 7/1/53 | 351,394 |
127,559,936 | Federal Home Loan Mortgage Corp., 5.500%, 8/1/53 | 128,075,626 |
77,219,780 | Federal Home Loan Mortgage Corp., 5.500%, 11/1/53 | 77,531,967 |
77,220,220 | Federal Home Loan Mortgage Corp., 5.500%, 12/1/53 | 77,532,416 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2343
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
30,076 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/33 | $ 31,170 |
10,428 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/33 | 10,768 |
11,177 | Federal Home Loan Mortgage Corp., 6.000%, 2/1/33 | 11,579 |
1,235 | Federal Home Loan Mortgage Corp., 6.000%, 2/1/33 | 1,282 |
34,989 | Federal Home Loan Mortgage Corp., 6.000%, 3/1/33 | 36,381 |
6,488 | Federal Home Loan Mortgage Corp., 6.000%, 3/1/33 | 6,675 |
30,736 | Federal Home Loan Mortgage Corp., 6.000%, 9/1/33 | 32,047 |
15,780 | Federal Home Loan Mortgage Corp., 6.000%, 11/1/33 | 16,333 |
3,031 | Federal Home Loan Mortgage Corp., 6.000%, 11/1/33 | 3,128 |
29,349 | Federal Home Loan Mortgage Corp., 6.000%, 12/1/33 | 30,426 |
6,415 | Federal Home Loan Mortgage Corp., 6.000%, 12/1/33 | 6,610 |
25,665 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/34 | 26,736 |
8,404 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/34 | 8,770 |
112,277 | Federal Home Loan Mortgage Corp., 6.000%, 5/1/34 | 117,249 |
16,150 | Federal Home Loan Mortgage Corp., 6.000%, 5/1/34 | 16,785 |
11,532 | Federal Home Loan Mortgage Corp., 6.000%, 4/1/35 | 11,954 |
35,897 | Federal Home Loan Mortgage Corp., 6.000%, 6/1/35 | 37,209 |
38,176 | Federal Home Loan Mortgage Corp., 6.000%, 4/1/36 | 39,704 |
23,695 | Federal Home Loan Mortgage Corp., 6.000%, 7/1/36 | 24,525 |
2,893 | Federal Home Loan Mortgage Corp., 6.000%, 7/1/36 | 3,026 |
8,141 | Federal Home Loan Mortgage Corp., 6.000%, 12/1/36 | 8,468 |
19,534 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/38 | 20,416 |
21,157 | Federal Home Loan Mortgage Corp., 6.000%, 7/1/38 | 21,978 |
890,971 | Federal Home Loan Mortgage Corp., 6.000%, 10/1/52 | 919,345 |
484,513 | Federal Home Loan Mortgage Corp., 6.000%, 3/1/53 | 502,345 |
375,332 | Federal Home Loan Mortgage Corp., 6.000%, 3/1/53 | 385,251 |
306,009 | Federal Home Loan Mortgage Corp., 6.000%, 4/1/53 | 317,899 |
215,325 | Federal Home Loan Mortgage Corp., 6.000%, 4/1/53 | 218,925 |
351,388 | Federal Home Loan Mortgage Corp., 6.000%, 4/1/53 | 357,056 |
298,206 | Federal Home Loan Mortgage Corp., 6.000%, 4/1/53 | 304,507 |
1,389,982 | Federal Home Loan Mortgage Corp., 6.000%, 4/1/53 | 1,424,121 |
1,293,420 | Federal Home Loan Mortgage Corp., 6.000%, 6/1/53 | 1,327,497 |
504,410 | Federal Home Loan Mortgage Corp., 6.000%, 7/1/53 | 512,187 |
674,238 | Federal Home Loan Mortgage Corp., 6.000%, 7/1/53 | 687,552 |
198,805 | Federal Home Loan Mortgage Corp., 6.000%, 7/1/53 | 204,159 |
The accompanying notes are an integral part of these financial statements.
44Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
149,086 | Federal Home Loan Mortgage Corp., 6.000%, 8/1/53 | $ 152,931 |
748,071 | Federal Home Loan Mortgage Corp., 6.000%, 9/1/53 | 766,374 |
1,934,018 | Federal Home Loan Mortgage Corp., 6.000%, 10/1/53 | 1,981,336 |
125 | Federal Home Loan Mortgage Corp., 6.500%, 11/1/30 | 130 |
118 | Federal Home Loan Mortgage Corp., 6.500%, 3/1/31 | 123 |
1,799 | Federal Home Loan Mortgage Corp., 6.500%, 5/1/31 | 1,874 |
3,312 | Federal Home Loan Mortgage Corp., 6.500%, 5/1/31 | �� 3,451 |
186 | Federal Home Loan Mortgage Corp., 6.500%, 8/1/31 | 192 |
2,486 | Federal Home Loan Mortgage Corp., 6.500%, 8/1/31 | 2,579 |
3,208 | Federal Home Loan Mortgage Corp., 6.500%, 7/1/32 | 3,326 |
29 | Federal Home Loan Mortgage Corp., 6.500%, 1/1/33 | 30 |
11,220 | Federal Home Loan Mortgage Corp., 6.500%, 10/1/33 | 11,803 |
1,200,099 | Federal Home Loan Mortgage Corp., 6.500%, 1/1/53 | 1,236,008 |
8,110,988 | Federal Home Loan Mortgage Corp., 6.500%, 2/1/53 | 8,565,669 |
324,047 | Federal Home Loan Mortgage Corp., 6.500%, 4/1/53 | 336,689 |
259,166 | Federal Home Loan Mortgage Corp., 6.500%, 4/1/53 | 267,218 |
761,199 | Federal Home Loan Mortgage Corp., 6.500%, 7/1/53 | 792,099 |
2,794,727 | Federal Home Loan Mortgage Corp., 6.500%, 8/1/53 | 2,882,324 |
645,234 | Federal Home Loan Mortgage Corp., 6.500%, 8/1/53 | 662,442 |
617,898 | Federal Home Loan Mortgage Corp., 6.500%, 8/1/53 | 635,094 |
996,463 | Federal Home Loan Mortgage Corp., 6.500%, 8/1/53 | 1,028,060 |
652,521 | Federal Home Loan Mortgage Corp., 6.500%, 8/1/53 | 687,235 |
10,017,333 | Federal Home Loan Mortgage Corp., 6.500%, 10/1/53 | 10,265,504 |
841 | Federal Home Loan Mortgage Corp., 7.000%, 11/1/30 | 868 |
66,131,016 | Federal National Mortgage Association, 1.500%, 3/1/42 | 54,798,260 |
16,000,000 | Federal National Mortgage Association, 2.000%, 1/1/39 (TBA) | 14,342,500 |
19,579,235 | Federal National Mortgage Association, 2.000%, 12/1/41 | 16,733,014 |
991,184 | Federal National Mortgage Association, 2.000%, 2/1/42 | 846,630 |
364,288 | Federal National Mortgage Association, 2.000%, 2/1/42 | 310,930 |
919,204 | Federal National Mortgage Association, 2.000%, 11/1/50 | 767,550 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2345
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
593,909 | Federal National Mortgage Association, 2.000%, 1/1/51 | $ 500,929 |
10,236,205 | Federal National Mortgage Association, 2.000%, 11/1/51 | 8,506,160 |
10,763,565 | Federal National Mortgage Association, 2.000%, 3/1/52 | 8,805,318 |
123,600,000 | Federal National Mortgage Association, 2.000%, 1/1/54 (TBA) | 101,004,375 |
343,726 | Federal National Mortgage Association, 2.500%, 7/1/30 | 325,893 |
302,153 | Federal National Mortgage Association, 2.500%, 7/1/30 | 286,591 |
535,218 | Federal National Mortgage Association, 2.500%, 7/1/30 | 507,446 |
4,000,000 | Federal National Mortgage Association, 2.500%, 1/1/39 (TBA) | 3,684,688 |
100,528 | Federal National Mortgage Association, 2.500%, 12/1/42 | 88,500 |
90,502 | Federal National Mortgage Association, 2.500%, 12/1/42 | 79,675 |
91,869 | Federal National Mortgage Association, 2.500%, 1/1/43 | 80,878 |
1,000,764 | Federal National Mortgage Association, 2.500%, 2/1/43 | 881,036 |
37,583 | Federal National Mortgage Association, 2.500%, 2/1/43 | 32,809 |
36,614 | Federal National Mortgage Association, 2.500%, 2/1/43 | 32,064 |
115,755 | Federal National Mortgage Association, 2.500%, 3/1/43 | 101,921 |
68,279 | Federal National Mortgage Association, 2.500%, 4/1/43 | 59,497 |
101,338 | Federal National Mortgage Association, 2.500%, 8/1/43 | 89,225 |
44,935 | Federal National Mortgage Association, 2.500%, 12/1/43 | 39,565 |
97,433 | Federal National Mortgage Association, 2.500%, 3/1/44 | 85,491 |
599,963 | Federal National Mortgage Association, 2.500%, 4/1/45 | 522,295 |
543,313 | Federal National Mortgage Association, 2.500%, 4/1/45 | 472,967 |
The accompanying notes are an integral part of these financial statements.
46Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
209,713 | Federal National Mortgage Association, 2.500%, 4/1/45 | $ 182,556 |
101,155 | Federal National Mortgage Association, 2.500%, 4/1/45 | 88,058 |
179,296 | Federal National Mortgage Association, 2.500%, 4/1/45 | 156,078 |
234,628 | Federal National Mortgage Association, 2.500%, 4/1/45 | 204,641 |
62,293 | Federal National Mortgage Association, 2.500%, 4/1/45 | 54,229 |
97,842 | Federal National Mortgage Association, 2.500%, 4/1/45 | 85,172 |
20,222 | Federal National Mortgage Association, 2.500%, 5/1/45 | 17,604 |
43,904 | Federal National Mortgage Association, 2.500%, 7/1/45 | 38,221 |
49,708 | Federal National Mortgage Association, 2.500%, 8/1/45 | 43,271 |
38,640 | Federal National Mortgage Association, 2.500%, 1/1/46 | 33,504 |
12,221,037 | Federal National Mortgage Association, 2.500%, 8/1/50 | 10,653,985 |
556,128 | Federal National Mortgage Association, 2.500%, 9/1/50 | 485,995 |
275,852 | Federal National Mortgage Association, 2.500%, 10/1/50 | 241,307 |
35,088,129 | Federal National Mortgage Association, 2.500%, 5/1/51 | 30,293,506 |
14,834,782 | Federal National Mortgage Association, 2.500%, 5/1/51 | 12,823,993 |
48,206,541 | Federal National Mortgage Association, 2.500%, 11/1/51 | 41,768,805 |
1,492,017 | Federal National Mortgage Association, 2.500%, 1/1/52 | 1,286,073 |
31,698,307 | Federal National Mortgage Association, 2.500%, 1/1/52 | 27,231,558 |
1,730,798 | Federal National Mortgage Association, 2.500%, 2/1/52 | 1,496,576 |
25,673,576 | Federal National Mortgage Association, 2.500%, 4/1/52 | 21,850,305 |
3,917,002 | Federal National Mortgage Association, 2.500%, 4/1/52 | 3,371,262 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2347
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
3,752,401 | Federal National Mortgage Association, 2.500%, 4/1/52 | $ 3,192,426 |
24,572,812 | Federal National Mortgage Association, 2.500%, 4/1/52 | 20,892,164 |
2,469,009 | Federal National Mortgage Association, 2.500%, 4/1/52 | 2,100,435 |
1,284,474 | Federal National Mortgage Association, 2.500%, 7/1/52 | 1,092,397 |
70,000,000 | Federal National Mortgage Association, 2.500%, 1/1/54 (TBA) | 59,543,750 |
913,628 | Federal National Mortgage Association, 3.000%, 10/1/30 | 877,636 |
336,586 | Federal National Mortgage Association, 3.000%, 4/1/31 | 322,645 |
155,668 | Federal National Mortgage Association, 3.000%, 6/1/40 | 143,666 |
294,643 | Federal National Mortgage Association, 3.000%, 8/1/45 | 269,332 |
1,604,319 | Federal National Mortgage Association, 3.000%, 2/1/47 | 1,475,836 |
1,767,288 | Federal National Mortgage Association, 3.000%, 4/1/47 | 1,608,463 |
1,190,016 | Federal National Mortgage Association, 3.000%, 12/1/47 | 1,085,664 |
31,863,725 | Federal National Mortgage Association, 3.000%, 2/1/51 | 28,624,733 |
1,057,282 | Federal National Mortgage Association, 3.000%, 4/1/51 | 957,191 |
6,839,714 | Federal National Mortgage Association, 3.000%, 11/1/51 | 6,126,606 |
14,552,297 | Federal National Mortgage Association, 3.000%, 1/1/52 | 13,054,236 |
19,651,335 | Federal National Mortgage Association, 3.000%, 3/1/52 | 17,766,783 |
7,604,662 | Federal National Mortgage Association, 3.000%, 3/1/52 | 6,728,752 |
2,821,169 | Federal National Mortgage Association, 3.000%, 6/1/52 | 2,495,037 |
104,700,000 | Federal National Mortgage Association, 3.000%, 1/1/54 (TBA) | 92,606,332 |
5,254,170 | Federal National Mortgage Association, 3.000%, 2/1/57 | 4,624,619 |
The accompanying notes are an integral part of these financial statements.
48Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
686,470 | Federal National Mortgage Association, 3.500%, 6/1/28 | $ 670,170 |
216,357 | Federal National Mortgage Association, 3.500%, 10/1/41 | 204,954 |
1,328,776 | Federal National Mortgage Association, 3.500%, 11/1/41 | 1,294,371 |
100,120 | Federal National Mortgage Association, 3.500%, 10/1/42 | 94,332 |
148,692 | Federal National Mortgage Association, 3.500%, 12/1/42 | 140,949 |
164,869 | Federal National Mortgage Association, 3.500%, 12/1/42 | 155,976 |
1,180,844 | Federal National Mortgage Association, 3.500%, 9/1/45 | 1,102,063 |
157,086 | Federal National Mortgage Association, 3.500%, 10/1/45 | 148,027 |
32,902 | Federal National Mortgage Association, 3.500%, 2/1/47 | 30,827 |
45,131 | Federal National Mortgage Association, 3.500%, 7/1/47 | 42,706 |
39,696 | Federal National Mortgage Association, 3.500%, 10/1/47 | 36,799 |
221,046 | Federal National Mortgage Association, 3.500%, 12/1/47 | 209,251 |
3,476,990 | Federal National Mortgage Association, 3.500%, 1/1/48 | 3,262,969 |
28,316 | Federal National Mortgage Association, 3.500%, 2/1/49 | 26,438 |
986,281 | Federal National Mortgage Association, 3.500%, 5/1/49 | 933,704 |
667,111 | Federal National Mortgage Association, 3.500%, 5/1/49 | 629,440 |
16,499 | Federal National Mortgage Association, 3.500%, 7/1/49 | 15,411 |
421,491 | Federal National Mortgage Association, 3.500%, 3/1/52 | 391,967 |
1,176,823 | Federal National Mortgage Association, 3.500%, 3/1/52 | 1,085,129 |
793,630 | Federal National Mortgage Association, 3.500%, 4/1/52 | 728,190 |
3,120,017 | Federal National Mortgage Association, 3.500%, 4/1/52 | 2,875,011 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2349
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
1,908,331 | Federal National Mortgage Association, 3.500%, 4/1/52 | $ 1,771,069 |
5,791,890 | Federal National Mortgage Association, 3.500%, 5/1/52 | 5,361,567 |
454,598 | Federal National Mortgage Association, 3.500%, 6/1/52 | 420,823 |
587,480 | Federal National Mortgage Association, 3.500%, 6/1/52 | 539,056 |
5,867,180 | Federal National Mortgage Association, 3.500%, 6/1/52 | 5,383,543 |
55,000,000 | Federal National Mortgage Association, 3.500%, 1/1/54 (TBA) | 50,453,906 |
316,213 | Federal National Mortgage Association, 3.500%, 8/1/58 | 286,852 |
1,202 | Federal National Mortgage Association, 4.000%, 10/1/25 | 1,186 |
64,360 | Federal National Mortgage Association, 4.000%, 11/1/34 | 62,994 |
587,478 | Federal National Mortgage Association, 4.000%, 4/1/39 | 572,986 |
2,380,130 | Federal National Mortgage Association, 4.000%, 10/1/40 | 2,321,123 |
402,610 | Federal National Mortgage Association, 4.000%, 12/1/40 | 392,628 |
80,495 | Federal National Mortgage Association, 4.000%, 7/1/42 | 78,299 |
2,311,094 | Federal National Mortgage Association, 4.000%, 4/1/44 | 2,248,063 |
36,880 | Federal National Mortgage Association, 4.000%, 6/1/45 | 35,882 |
191,604 | Federal National Mortgage Association, 4.000%, 7/1/45 | 184,717 |
62,702 | Federal National Mortgage Association, 4.000%, 5/1/51 | 59,489 |
7,421,643 | Federal National Mortgage Association, 4.000%, 7/1/51 | 7,059,671 |
153,597 | Federal National Mortgage Association, 4.000%, 8/1/51 | 145,648 |
2,303,211 | Federal National Mortgage Association, 4.000%, 9/1/51 | 2,199,676 |
250,976 | Federal National Mortgage Association, 4.000%, 6/1/52 | 237,351 |
The accompanying notes are an integral part of these financial statements.
50Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
18,300,000 | Federal National Mortgage Association, 4.000%, 1/1/54 (TBA) | $ 17,307,082 |
717,058 | Federal National Mortgage Association, 4.000%, 7/1/56 | 680,160 |
1,069,470 | Federal National Mortgage Association, 4.000%, 1/1/57 | 1,013,108 |
39,909 | Federal National Mortgage Association, 4.500%, 10/1/35 | 40,005 |
101,384 | Federal National Mortgage Association, 4.500%, 8/1/40 | 101,128 |
90,669 | Federal National Mortgage Association, 4.500%, 2/1/41 | 90,552 |
963,933 | Federal National Mortgage Association, 4.500%, 5/1/41 | 962,691 |
317,804 | Federal National Mortgage Association, 4.500%, 7/1/41 | 317,394 |
122,051 | Federal National Mortgage Association, 4.500%, 3/1/43 | 121,894 |
4,314,601 | Federal National Mortgage Association, 4.500%, 9/1/43 | 4,307,699 |
2,877,309 | Federal National Mortgage Association, 4.500%, 1/1/44 | 2,873,607 |
1,545,310 | Federal National Mortgage Association, 4.500%, 3/1/44 | 1,544,544 |
3,708,019 | Federal National Mortgage Association, 4.500%, 6/1/44 | 3,703,252 |
12,794,769 | Federal National Mortgage Association, 4.500%, 7/1/44 | 12,709,786 |
148,608 | Federal National Mortgage Association, 4.500%, 1/1/47 | 147,499 |
59,195 | Federal National Mortgage Association, 4.500%, 2/1/47 | 58,753 |
1,870,044 | Federal National Mortgage Association, 4.500%, 8/1/47 | 1,852,227 |
4,000,000 | Federal National Mortgage Association, 4.500%, 1/1/53 (TBA) | 3,877,188 |
25,005 | Federal National Mortgage Association, 5.000%, 7/1/34 | 25,409 |
80,049 | Federal National Mortgage Association, 5.000%, 10/1/34 | 81,342 |
4,000,000 | Federal National Mortgage Association, 5.000%, 1/1/39 (TBA) | 4,023,750 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2351
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
186,409 | Federal National Mortgage Association, 5.000%, 2/1/39 | $ 189,415 |
4,159,717 | Federal National Mortgage Association, 5.000%, 12/1/44 | 4,227,225 |
142,457 | Federal National Mortgage Association, 5.000%, 6/1/49 | 142,351 |
466,258 | Federal National Mortgage Association, 5.000%, 9/1/49 | 472,907 |
2,438,704 | Federal National Mortgage Association, 5.000%, 9/1/49 | 2,486,280 |
3,718,548 | Federal National Mortgage Association, 5.000%, 10/1/50 | 3,726,098 |
1,832,565 | Federal National Mortgage Association, 5.000%, 6/1/52 | 1,841,963 |
859,008 | Federal National Mortgage Association, 5.000%, 6/1/52 | 854,366 |
5,898,665 | Federal National Mortgage Association, 5.000%, 8/1/52 | 5,840,977 |
3,734,734 | Federal National Mortgage Association, 5.000%, 11/1/52 | 3,697,706 |
427,792 | Federal National Mortgage Association, 5.000%, 2/1/53 | 423,769 |
705,696 | Federal National Mortgage Association, 5.000%, 2/1/53 | 698,787 |
908,468 | Federal National Mortgage Association, 5.000%, 2/1/53 | 899,924 |
1,841,269 | Federal National Mortgage Association, 5.000%, 3/1/53 | 1,824,350 |
432,366 | Federal National Mortgage Association, 5.000%, 3/1/53 | 428,596 |
1,481,123 | Federal National Mortgage Association, 5.000%, 4/1/53 | 1,466,138 |
277,865 | Federal National Mortgage Association, 5.000%, 4/1/53 | 276,094 |
419,017 | Federal National Mortgage Association, 5.000%, 4/1/53 | 414,644 |
622,632 | Federal National Mortgage Association, 5.000%, 4/1/53 | 616,284 |
976,760 | Federal National Mortgage Association, 5.000%, 8/1/53 | 975,129 |
4,151 | Federal National Mortgage Association, 5.500%, 6/1/33 | 4,275 |
The accompanying notes are an integral part of these financial statements.
52Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
22,227 | Federal National Mortgage Association, 5.500%, 7/1/33 | $ 22,888 |
142,479 | Federal National Mortgage Association, 5.500%, 7/1/34 | 146,723 |
5,637 | Federal National Mortgage Association, 5.500%, 10/1/35 | 5,777 |
36,736 | Federal National Mortgage Association, 5.500%, 3/1/36 | 37,393 |
32,027 | Federal National Mortgage Association, 5.500%, 5/1/36 | 32,899 |
49,024 | Federal National Mortgage Association, 5.500%, 6/1/36 | 50,487 |
21,000,000 | Federal National Mortgage Association, 5.500%, 1/1/39 (TBA) | 21,297,773 |
736,141 | Federal National Mortgage Association, 5.500%, 5/1/49 | 749,280 |
2,554,341 | Federal National Mortgage Association, 5.500%, 4/1/50 | 2,602,390 |
5,884,495 | Federal National Mortgage Association, 5.500%, 4/1/50 | 5,995,187 |
1,255,872 | Federal National Mortgage Association, 5.500%, 11/1/52 | 1,264,560 |
3,304,011 | Federal National Mortgage Association, 5.500%, 1/1/53 | 3,343,974 |
3,610,054 | Federal National Mortgage Association, 5.500%, 1/1/53 | 3,673,667 |
2,329,685 | Federal National Mortgage Association, 5.500%, 2/1/53 | 2,343,359 |
828,837 | Federal National Mortgage Association, 5.500%, 2/1/53 | 838,609 |
2,209,037 | Federal National Mortgage Association, 5.500%, 4/1/53 | 2,223,800 |
1,758,972 | Federal National Mortgage Association, 5.500%, 4/1/53 | 1,768,529 |
386,528 | Federal National Mortgage Association, 5.500%, 4/1/53 | 392,314 |
1,104,254 | Federal National Mortgage Association, 5.500%, 4/1/53 | 1,110,330 |
1,453,740 | Federal National Mortgage Association, 5.500%, 4/1/53 | 1,467,520 |
523,648 | Federal National Mortgage Association, 5.500%, 4/1/53 | 528,143 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2353
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
700,234 | Federal National Mortgage Association, 5.500%, 4/1/53 | $ 703,433 |
1,429,618 | Federal National Mortgage Association, 5.500%, 7/1/53 | 1,448,911 |
900,144 | Federal National Mortgage Association, 5.500%, 7/1/53 | 904,197 |
3,019,222 | Federal National Mortgage Association, 5.500%, 7/1/53 | 3,065,912 |
298,847 | Federal National Mortgage Association, 5.500%, 8/1/53 | 304,302 |
20,869,137 | Federal National Mortgage Association, 5.500%, 9/1/53 | 20,953,510 |
4,145,667 | Federal National Mortgage Association, 5.500%, 9/1/53 | 4,165,308 |
662,230 | Federal National Mortgage Association, 5.500%, 10/1/53 | 668,672 |
11,372 | Federal National Mortgage Association, 5.720%, 11/1/28 | 11,276 |
11,588 | Federal National Mortgage Association, 5.720%, 6/1/29 | 11,531 |
20,325 | Federal National Mortgage Association, 5.900%, 4/1/28 | 20,223 |
183 | Federal National Mortgage Association, 6.000%, 9/1/29 | 189 |
478 | Federal National Mortgage Association, 6.000%, 1/1/32 | 491 |
3,634 | Federal National Mortgage Association, 6.000%, 2/1/32 | 3,760 |
1,484 | Federal National Mortgage Association, 6.000%, 3/1/32 | 1,535 |
875 | Federal National Mortgage Association, 6.000%, 8/1/32 | 906 |
130 | Federal National Mortgage Association, 6.000%, 9/1/32 | 135 |
11,794 | Federal National Mortgage Association, 6.000%, 10/1/32 | 12,203 |
3,539 | Federal National Mortgage Association, 6.000%, 2/1/33 | 3,647 |
18,859 | Federal National Mortgage Association, 6.000%, 3/1/33 | 19,582 |
17,853 | Federal National Mortgage Association, 6.000%, 4/1/33 | 18,505 |
The accompanying notes are an integral part of these financial statements.
54Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
38,833 | Federal National Mortgage Association, 6.000%, 7/1/33 | $ 39,933 |
10,561 | Federal National Mortgage Association, 6.000%, 11/1/33 | 10,974 |
33,020 | Federal National Mortgage Association, 6.000%, 8/1/34 | 34,395 |
7,072 | Federal National Mortgage Association, 6.000%, 9/1/34 | 7,305 |
9,149 | Federal National Mortgage Association, 6.000%, 9/1/34 | 9,524 |
34,809 | Federal National Mortgage Association, 6.000%, 9/1/34 | 36,112 |
952 | Federal National Mortgage Association, 6.000%, 9/1/34 | 987 |
3,111 | Federal National Mortgage Association, 6.000%, 10/1/34 | 3,249 |
3,249 | Federal National Mortgage Association, 6.000%, 11/1/34 | 3,393 |
30,663 | Federal National Mortgage Association, 6.000%, 11/1/34 | 31,827 |
1,108 | Federal National Mortgage Association, 6.000%, 2/1/35 | 1,157 |
2,269 | Federal National Mortgage Association, 6.000%, 2/1/35 | 2,370 |
48,106 | Federal National Mortgage Association, 6.000%, 4/1/35 | 50,109 |
3,812 | Federal National Mortgage Association, 6.000%, 5/1/35 | 3,956 |
66,160 | Federal National Mortgage Association, 6.000%, 10/1/35 | 68,483 |
32,546 | Federal National Mortgage Association, 6.000%, 12/1/35 | 33,689 |
7,263 | Federal National Mortgage Association, 6.000%, 12/1/37 | 7,578 |
55,577 | Federal National Mortgage Association, 6.000%, 6/1/38 | 57,830 |
6,505 | Federal National Mortgage Association, 6.000%, 7/1/38 | 6,683 |
2,460,980 | Federal National Mortgage Association, 6.000%, 1/1/53 | 2,550,697 |
771,327 | Federal National Mortgage Association, 6.000%, 1/1/53 | 793,433 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2355
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
769,303 | Federal National Mortgage Association, 6.000%, 2/1/53 | $ 782,234 |
280,891 | Federal National Mortgage Association, 6.000%, 2/1/53 | 291,504 |
235,191 | Federal National Mortgage Association, 6.000%, 3/1/53 | 240,064 |
303,737 | Federal National Mortgage Association, 6.000%, 3/1/53 | 310,599 |
562,563 | Federal National Mortgage Association, 6.000%, 4/1/53 | 571,751 |
1,018,134 | Federal National Mortgage Association, 6.000%, 4/1/53 | 1,035,938 |
3,294,206 | Federal National Mortgage Association, 6.000%, 5/1/53 | 3,408,326 |
3,200,642 | Federal National Mortgage Association, 6.000%, 5/1/53 | 3,300,118 |
310,035 | Federal National Mortgage Association, 6.000%, 6/1/53 | 319,050 |
257,594 | Federal National Mortgage Association, 6.000%, 6/1/53 | 262,931 |
288,345 | Federal National Mortgage Association, 6.000%, 6/1/53 | 292,880 |
382,048 | Federal National Mortgage Association, 6.000%, 6/1/53 | 388,468 |
593,713 | Federal National Mortgage Association, 6.000%, 6/1/53 | 604,363 |
1,379,598 | Federal National Mortgage Association, 6.000%, 6/1/53 | 1,423,008 |
1,000,659 | Federal National Mortgage Association, 6.000%, 6/1/53 | 1,023,512 |
166,182 | Federal National Mortgage Association, 6.000%, 7/1/53 | 170,069 |
3,383,527 | Federal National Mortgage Association, 6.000%, 7/1/53 | 3,460,692 |
2,162,355 | Federal National Mortgage Association, 6.000%, 7/1/53 | 2,243,168 |
2,713,272 | Federal National Mortgage Association, 6.000%, 7/1/53 | 2,831,872 |
1,950,124 | Federal National Mortgage Association, 6.000%, 7/1/53 | 1,996,588 |
584,795 | Federal National Mortgage Association, 6.000%, 7/1/53 | 600,202 |
The accompanying notes are an integral part of these financial statements.
56Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
979,489 | Federal National Mortgage Association, 6.000%, 8/1/53 | $ 1,000,416 |
5,615,003 | Federal National Mortgage Association, 6.000%, 8/1/53 | 5,764,145 |
31,142,053 | Federal National Mortgage Association, 6.000%, 9/1/53 | 31,620,511 |
199,347 | Federal National Mortgage Association, 6.000%, 9/1/53 | 203,255 |
577,137 | Federal National Mortgage Association, 6.000%, 10/1/53 | 591,257 |
1,143,381 | Federal National Mortgage Association, 6.000%, 10/1/53 | 1,171,356 |
967,282 | Federal National Mortgage Association, 6.000%, 10/1/53 | 988,859 |
3,620 | Federal National Mortgage Association, 6.500%, 7/1/29 | 3,774 |
258 | Federal National Mortgage Association, 6.500%, 4/1/31 | 267 |
1,233 | Federal National Mortgage Association, 6.500%, 5/1/31 | 1,282 |
1,676 | Federal National Mortgage Association, 6.500%, 9/1/31 | 1,741 |
1,797 | Federal National Mortgage Association, 6.500%, 9/1/31 | 1,868 |
462 | Federal National Mortgage Association, 6.500%, 10/1/31 | 483 |
31,092 | Federal National Mortgage Association, 6.500%, 12/1/31 | 32,320 |
3,080 | Federal National Mortgage Association, 6.500%, 2/1/32 | 3,208 |
9,789 | Federal National Mortgage Association, 6.500%, 3/1/32 | 10,149 |
18,146 | Federal National Mortgage Association, 6.500%, 7/1/32 | 19,025 |
9,982 | Federal National Mortgage Association, 6.500%, 7/1/34 | 10,420 |
31,749 | Federal National Mortgage Association, 6.500%, 11/1/37 | 33,606 |
8,386 | Federal National Mortgage Association, 6.500%, 11/1/47 | 8,556 |
215,480 | Federal National Mortgage Association, 6.500%, 2/1/53 | 223,091 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2357
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
1,941,176 | Federal National Mortgage Association, 6.500%, 3/1/53 | $ 2,016,694 |
390,528 | Federal National Mortgage Association, 6.500%, 3/1/53 | 406,472 |
1,766,347 | Federal National Mortgage Association, 6.500%, 3/1/53 | 1,829,611 |
264,438 | Federal National Mortgage Association, 6.500%, 4/1/53 | 273,635 |
340,482 | Federal National Mortgage Association, 6.500%, 4/1/53 | 356,147 |
386,790 | Federal National Mortgage Association, 6.500%, 4/1/53 | 398,726 |
499,402 | Federal National Mortgage Association, 6.500%, 7/1/53 | 512,858 |
476,023 | Federal National Mortgage Association, 6.500%, 7/1/53 | 491,875 |
2,239,441 | Federal National Mortgage Association, 6.500%, 8/1/53 | 2,305,868 |
995,638 | Federal National Mortgage Association, 6.500%, 8/1/53 | 1,024,107 |
300,979 | Federal National Mortgage Association, 6.500%, 8/1/53 | 309,390 |
791,687 | Federal National Mortgage Association, 6.500%, 8/1/53 | 812,800 |
641,627 | Federal National Mortgage Association, 6.500%, 8/1/53 | 661,327 |
4,568,983 | Federal National Mortgage Association, 6.500%, 9/1/53 | 4,692,645 |
948,987 | Federal National Mortgage Association, 6.500%, 9/1/53 | 977,136 |
2,306 | Federal National Mortgage Association, 7.000%, 12/1/30 | 2,379 |
1,650 | Federal National Mortgage Association, 7.000%, 4/1/31 | 1,702 |
2,682 | Federal National Mortgage Association, 7.000%, 9/1/31 | 2,767 |
9,932 | Federal National Mortgage Association, 7.000%, 12/1/31 | 10,247 |
5,888 | Federal National Mortgage Association, 7.000%, 1/1/32 | 6,110 |
14,000,000 | Government National Mortgage Association, 3.000%, 1/20/54 (TBA) | 12,674,340 |
The accompanying notes are an integral part of these financial statements.
58Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
11,000,000 | Government National Mortgage Association, 3.500%, 1/20/54 (TBA) | $ 10,243,750 |
8,000,000 | Government National Mortgage Association, 5.500%, 1/20/54 (TBA) | 8,057,520 |
12,000,000 | Government National Mortgage Association, 6.000%, 1/20/54 (TBA) | 12,201,094 |
7,000,000 | Government National Mortgage Association, 6.500%, 1/20/54 (TBA) | 7,165,430 |
2,191,290 | Government National Mortgage Association I, 3.500%, 11/15/41 | 2,069,740 |
1,517,015 | Government National Mortgage Association I, 3.500%, 7/15/42 | 1,432,847 |
272,044 | Government National Mortgage Association I, 3.500%, 10/15/42 | 257,013 |
481,638 | Government National Mortgage Association I, 3.500%, 1/15/44 | 454,901 |
1,591,049 | Government National Mortgage Association I, 3.500%, 1/15/45 | 1,502,868 |
525,422 | Government National Mortgage Association I, 3.500%, 8/15/46 | 492,602 |
5,955 | Government National Mortgage Association I, 4.000%, 5/15/39 | 5,753 |
878 | Government National Mortgage Association I, 4.000%, 6/15/39 | 857 |
1,398 | Government National Mortgage Association I, 4.000%, 8/15/40 | 1,357 |
116,460 | Government National Mortgage Association I, 4.000%, 8/15/40 | 113,610 |
1,662 | Government National Mortgage Association I, 4.000%, 9/15/40 | 1,613 |
1,660 | Government National Mortgage Association I, 4.000%, 10/15/40 | 1,620 |
6,981 | Government National Mortgage Association I, 4.000%, 11/15/40 | 6,741 |
14,228 | Government National Mortgage Association I, 4.000%, 11/15/40 | 13,768 |
4,546 | Government National Mortgage Association I, 4.000%, 1/15/41 | 4,412 |
17,139 | Government National Mortgage Association I, 4.000%, 1/15/41 | 16,720 |
2,600 | Government National Mortgage Association I, 4.000%, 2/15/41 | 2,537 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2359
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
22,863 | Government National Mortgage Association I, 4.000%, 6/15/41 | $ 22,123 |
34,610 | Government National Mortgage Association I, 4.000%, 7/15/41 | 33,594 |
86,362 | Government National Mortgage Association I, 4.000%, 9/15/41 | 83,823 |
1,741 | Government National Mortgage Association I, 4.000%, 10/15/41 | 1,681 |
4,595 | Government National Mortgage Association I, 4.000%, 10/15/41 | 4,437 |
1,106 | Government National Mortgage Association I, 4.000%, 11/15/41 | 1,068 |
1,022 | Government National Mortgage Association I, 4.000%, 11/15/41 | 984 |
1,293 | Government National Mortgage Association I, 4.000%, 12/15/41 | 1,253 |
10,583 | Government National Mortgage Association I, 4.000%, 2/15/42 | 10,272 |
232,562 | Government National Mortgage Association I, 4.000%, 8/15/43 | 225,721 |
3,239 | Government National Mortgage Association I, 4.000%, 11/15/43 | 3,158 |
173,127 | Government National Mortgage Association I, 4.000%, 3/15/44 | 168,034 |
668,106 | Government National Mortgage Association I, 4.000%, 3/15/44 | 648,449 |
21,047 | Government National Mortgage Association I, 4.000%, 3/15/44 | 20,462 |
2,782 | Government National Mortgage Association I, 4.000%, 3/15/44 | 2,710 |
395,427 | Government National Mortgage Association I, 4.000%, 4/15/44 | 382,001 |
2,851 | Government National Mortgage Association I, 4.000%, 4/15/44 | 2,749 |
4,754 | Government National Mortgage Association I, 4.000%, 4/15/44 | 4,605 |
51,729 | Government National Mortgage Association I, 4.000%, 8/15/44 | 50,434 |
519,823 | Government National Mortgage Association I, 4.000%, 9/15/44 | 504,059 |
35,533 | Government National Mortgage Association I, 4.000%, 9/15/44 | 33,960 |
The accompanying notes are an integral part of these financial statements.
60Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
52,046 | Government National Mortgage Association I, 4.000%, 9/15/44 | $ 50,617 |
97,233 | Government National Mortgage Association I, 4.000%, 11/15/44 | 93,981 |
288,702 | Government National Mortgage Association I, 4.000%, 12/15/44 | 280,069 |
151,366 | Government National Mortgage Association I, 4.000%, 1/15/45 | 147,037 |
119,424 | Government National Mortgage Association I, 4.000%, 1/15/45 | 114,725 |
346,537 | Government National Mortgage Association I, 4.000%, 2/15/45 | 337,026 |
304,839 | Government National Mortgage Association I, 4.000%, 2/15/45 | 294,655 |
786,249 | Government National Mortgage Association I, 4.000%, 3/15/45 | 759,157 |
645,092 | Government National Mortgage Association I, 4.000%, 4/15/45 | 625,711 |
766,679 | Government National Mortgage Association I, 4.000%, 5/15/45 | 753,312 |
951,553 | Government National Mortgage Association I, 4.000%, 6/15/45 | 926,710 |
133,292 | Government National Mortgage Association I, 4.000%, 7/15/45 | 128,929 |
201,090 | Government National Mortgage Association I, 4.000%, 8/15/45 | 194,115 |
17,761 | Government National Mortgage Association I, 4.500%, 6/15/25 | 17,568 |
14,505 | Government National Mortgage Association I, 4.500%, 7/15/33 | 14,349 |
34,757 | Government National Mortgage Association I, 4.500%, 9/15/33 | 34,425 |
58,431 | Government National Mortgage Association I, 4.500%, 10/15/33 | 57,673 |
42,821 | Government National Mortgage Association I, 4.500%, 10/15/33 | 42,265 |
2,982 | Government National Mortgage Association I, 4.500%, 2/15/34 | 2,950 |
34,585 | Government National Mortgage Association I, 4.500%, 4/15/35 | 34,136 |
16,571 | Government National Mortgage Association I, 4.500%, 10/15/35 | 16,394 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2361
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
26,029 | Government National Mortgage Association I, 4.500%, 4/15/38 | $ 25,881 |
229,794 | Government National Mortgage Association I, 4.500%, 12/15/39 | 228,798 |
92,727 | Government National Mortgage Association I, 4.500%, 1/15/40 | 92,418 |
52,205 | Government National Mortgage Association I, 4.500%, 9/15/40 | 51,995 |
140,198 | Government National Mortgage Association I, 4.500%, 10/15/40 | 139,360 |
97,497 | Government National Mortgage Association I, 4.500%, 4/15/41 | 96,533 |
203,981 | Government National Mortgage Association I, 4.500%, 5/15/41 | 200,680 |
127,251 | Government National Mortgage Association I, 4.500%, 6/15/41 | 125,992 |
91,737 | Government National Mortgage Association I, 4.500%, 7/15/41 | 90,830 |
78,066 | Government National Mortgage Association I, 4.500%, 8/15/41 | 76,982 |
17,009 | Government National Mortgage Association I, 5.000%, 7/15/33 | 16,979 |
17,841 | Government National Mortgage Association I, 5.000%, 9/15/33 | 17,954 |
20,729 | Government National Mortgage Association I, 5.000%, 4/15/34 | 20,838 |
123,402 | Government National Mortgage Association I, 5.000%, 4/15/35 | 124,042 |
46,241 | Government National Mortgage Association I, 5.000%, 7/15/40 | 46,350 |
24,192 | Government National Mortgage Association I, 5.500%, 1/15/29 | 24,262 |
3,155 | Government National Mortgage Association I, 5.500%, 6/15/33 | 3,189 |
18,127 | Government National Mortgage Association I, 5.500%, 7/15/33 | 18,322 |
8,963 | Government National Mortgage Association I, 5.500%, 7/15/33 | 9,059 |
5,506 | Government National Mortgage Association I, 5.500%, 8/15/33 | 5,565 |
8,843 | Government National Mortgage Association I, 5.500%, 8/15/33 | 8,939 |
The accompanying notes are an integral part of these financial statements.
62Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
8,507 | Government National Mortgage Association I, 5.500%, 8/15/33 | $ 8,599 |
19,002 | Government National Mortgage Association I, 5.500%, 9/15/33 | 19,208 |
21,564 | Government National Mortgage Association I, 5.500%, 9/15/33 | 21,797 |
9,245 | Government National Mortgage Association I, 5.500%, 10/15/33 | 9,345 |
16,588 | Government National Mortgage Association I, 5.500%, 10/15/33 | 16,767 |
84,806 | Government National Mortgage Association I, 5.500%, 7/15/34 | 85,723 |
12,992 | Government National Mortgage Association I, 5.500%, 10/15/34 | 13,094 |
112,980 | Government National Mortgage Association I, 5.500%, 11/15/34 | 113,647 |
46,340 | Government National Mortgage Association I, 5.500%, 1/15/35 | 46,750 |
7,902 | Government National Mortgage Association I, 5.500%, 2/15/35 | 7,988 |
28,176 | Government National Mortgage Association I, 5.500%, 2/15/35 | 28,481 |
23,405 | Government National Mortgage Association I, 5.500%, 6/15/35 | 23,658 |
99,575 | Government National Mortgage Association I, 5.500%, 7/15/35 | 100,653 |
7,607 | Government National Mortgage Association I, 5.500%, 10/15/35 | 7,644 |
35,135 | Government National Mortgage Association I, 5.500%, 10/15/35 | 35,441 |
10,895 | Government National Mortgage Association I, 5.500%, 2/15/37 | 11,012 |
6,472 | Government National Mortgage Association I, 6.000%, 4/15/28 | 6,635 |
27,497 | Government National Mortgage Association I, 6.000%, 9/15/28 | 27,932 |
1,376 | Government National Mortgage Association I, 6.000%, 10/15/28 | 1,409 |
10,049 | Government National Mortgage Association I, 6.000%, 2/15/29 | 10,265 |
9,670 | Government National Mortgage Association I, 6.000%, 2/15/29 | ��� 9,904 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2363
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
4,469 | Government National Mortgage Association I, 6.000%, 11/15/31 | $ 4,602 |
256 | Government National Mortgage Association I, 6.000%, 3/15/32 | 262 |
1,451 | Government National Mortgage Association I, 6.000%, 8/15/32 | 1,487 |
2,764 | Government National Mortgage Association I, 6.000%, 9/15/32 | 2,784 |
59,792 | Government National Mortgage Association I, 6.000%, 9/15/32 | 61,512 |
46,859 | Government National Mortgage Association I, 6.000%, 9/15/32 | 47,694 |
4,206 | Government National Mortgage Association I, 6.000%, 10/15/32 | 4,316 |
1,845 | Government National Mortgage Association I, 6.000%, 10/15/32 | 1,874 |
3,047 | Government National Mortgage Association I, 6.000%, 11/15/32 | 3,101 |
2,637 | Government National Mortgage Association I, 6.000%, 11/15/32 | 2,712 |
104,647 | Government National Mortgage Association I, 6.000%, 12/15/32 | 106,180 |
2,061 | Government National Mortgage Association I, 6.000%, 12/15/32 | 2,091 |
65,998 | Government National Mortgage Association I, 6.000%, 12/15/32 | 67,408 |
22,697 | Government National Mortgage Association I, 6.000%, 12/15/32 | 23,378 |
4,476 | Government National Mortgage Association I, 6.000%, 12/15/32 | 4,611 |
25,653 | Government National Mortgage Association I, 6.000%, 12/15/32 | 26,071 |
66,507 | Government National Mortgage Association I, 6.000%, 12/15/32 | 67,694 |
46,282 | Government National Mortgage Association I, 6.000%, 1/15/33 | 47,962 |
12,399 | Government National Mortgage Association I, 6.000%, 1/15/33 | 12,771 |
29,555 | Government National Mortgage Association I, 6.000%, 2/15/33 | 30,156 |
39,953 | Government National Mortgage Association I, 6.000%, 2/15/33 | 41,153 |
The accompanying notes are an integral part of these financial statements.
64Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
35,337 | Government National Mortgage Association I, 6.000%, 2/15/33 | $ 36,399 |
7,621 | Government National Mortgage Association I, 6.000%, 2/15/33 | 7,895 |
33,518 | Government National Mortgage Association I, 6.000%, 3/15/33 | 34,729 |
33,897 | Government National Mortgage Association I, 6.000%, 3/15/33 | 35,127 |
18,749 | Government National Mortgage Association I, 6.000%, 3/15/33 | 19,366 |
32,491 | Government National Mortgage Association I, 6.000%, 3/15/33 | 33,010 |
8,117 | Government National Mortgage Association I, 6.000%, 3/15/33 | 8,310 |
35,575 | Government National Mortgage Association I, 6.000%, 3/15/33 | 36,232 |
124,860 | Government National Mortgage Association I, 6.000%, 3/15/33 | 126,779 |
62,811 | Government National Mortgage Association I, 6.000%, 3/15/33 | 65,089 |
12,764 | Government National Mortgage Association I, 6.000%, 4/15/33 | 13,142 |
32,913 | Government National Mortgage Association I, 6.000%, 5/15/33 | 33,517 |
3,397 | Government National Mortgage Association I, 6.000%, 6/15/33 | 3,472 |
17,326 | Government National Mortgage Association I, 6.000%, 9/15/33 | 17,957 |
9,352 | Government National Mortgage Association I, 6.000%, 10/15/33 | 9,621 |
33,304 | Government National Mortgage Association I, 6.000%, 11/15/33 | 33,818 |
70,612 | Government National Mortgage Association I, 6.000%, 3/15/34 | 72,903 |
15,242 | Government National Mortgage Association I, 6.000%, 6/15/34 | 15,780 |
8,343 | Government National Mortgage Association I, 6.000%, 8/15/34 | 8,598 |
33,811 | Government National Mortgage Association I, 6.000%, 8/15/34 | 34,756 |
3,936 | Government National Mortgage Association I, 6.000%, 9/15/34 | 4,050 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2365
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
28,249 | Government National Mortgage Association I, 6.000%, 9/15/34 | $ 29,073 |
43,958 | Government National Mortgage Association I, 6.000%, 9/15/34 | 44,891 |
33,543 | Government National Mortgage Association I, 6.000%, 10/15/34 | 34,123 |
31,692 | Government National Mortgage Association I, 6.000%, 10/15/34 | 32,604 |
36,123 | Government National Mortgage Association I, 6.000%, 10/15/34 | 37,175 |
44,197 | Government National Mortgage Association I, 6.000%, 11/15/34 | 45,322 |
166,854 | Government National Mortgage Association I, 6.000%, 9/15/35 | 172,277 |
58,571 | Government National Mortgage Association I, 6.000%, 8/15/36 | 60,625 |
27,458 | Government National Mortgage Association I, 6.000%, 10/15/36 | 28,259 |
14,162 | Government National Mortgage Association I, 6.000%, 11/15/37 | 14,597 |
11,288 | Government National Mortgage Association I, 6.000%, 8/15/38 | 11,492 |
118 | Government National Mortgage Association I, 6.500%, 10/15/24 | 116 |
2,407 | Government National Mortgage Association I, 6.500%, 4/15/28 | 2,476 |
16,597 | Government National Mortgage Association I, 6.500%, 4/15/28 | 17,143 |
1,776 | Government National Mortgage Association I, 6.500%, 6/15/28 | 1,801 |
1,709 | Government National Mortgage Association I, 6.500%, 8/15/28 | 1,760 |
1,502 | Government National Mortgage Association I, 6.500%, 10/15/28 | 1,544 |
1,003 | Government National Mortgage Association I, 6.500%, 10/15/28 | 1,031 |
9,261 | Government National Mortgage Association I, 6.500%, 1/15/29 | 9,501 |
1,793 | Government National Mortgage Association I, 6.500%, 2/15/29 | 1,835 |
2,730 | Government National Mortgage Association I, 6.500%, 2/15/29 | 2,804 |
The accompanying notes are an integral part of these financial statements.
66Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
357 | Government National Mortgage Association I, 6.500%, 2/15/29 | $ 367 |
868 | Government National Mortgage Association I, 6.500%, 3/15/29 | 895 |
836 | Government National Mortgage Association I, 6.500%, 3/15/29 | 859 |
3,703 | Government National Mortgage Association I, 6.500%, 3/15/29 | 3,817 |
9,675 | Government National Mortgage Association I, 6.500%, 3/15/29 | 9,870 |
6,816 | Government National Mortgage Association I, 6.500%, 3/15/29 | 6,960 |
12,468 | Government National Mortgage Association I, 6.500%, 5/15/29 | 12,641 |
426 | Government National Mortgage Association I, 6.500%, 5/15/29 | 437 |
307 | Government National Mortgage Association I, 6.500%, 5/15/29 | 316 |
13,845 | Government National Mortgage Association I, 6.500%, 4/15/31 | 14,313 |
3,684 | Government National Mortgage Association I, 6.500%, 5/15/31 | 3,781 |
17,410 | Government National Mortgage Association I, 6.500%, 5/15/31 | 17,895 |
4,088 | Government National Mortgage Association I, 6.500%, 5/15/31 | 4,213 |
2,558 | Government National Mortgage Association I, 6.500%, 6/15/31 | 2,653 |
8,443 | Government National Mortgage Association I, 6.500%, 7/15/31 | 8,736 |
16,052 | Government National Mortgage Association I, 6.500%, 8/15/31 | 16,648 |
1,680 | Government National Mortgage Association I, 6.500%, 9/15/31 | 1,729 |
22,264 | Government National Mortgage Association I, 6.500%, 10/15/31 | 22,876 |
2,144 | Government National Mortgage Association I, 6.500%, 10/15/31 | 2,224 |
1,805 | Government National Mortgage Association I, 6.500%, 11/15/31 | 1,867 |
28,982 | Government National Mortgage Association I, 6.500%, 11/15/31 | 30,622 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2367
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
36,665 | Government National Mortgage Association I, 6.500%, 1/15/32 | $ 37,328 |
8,417 | Government National Mortgage Association I, 6.500%, 1/15/32 | 8,699 |
6,178 | Government National Mortgage Association I, 6.500%, 2/15/32 | 6,328 |
7,484 | Government National Mortgage Association I, 6.500%, 2/15/32 | 7,796 |
874 | Government National Mortgage Association I, 6.500%, 2/15/32 | 897 |
5,369 | Government National Mortgage Association I, 6.500%, 2/15/32 | 5,551 |
13,226 | Government National Mortgage Association I, 6.500%, 2/15/32 | 13,670 |
6,023 | Government National Mortgage Association I, 6.500%, 3/15/32 | 6,247 |
14,537 | Government National Mortgage Association I, 6.500%, 3/15/32 | 14,920 |
2,866 | Government National Mortgage Association I, 6.500%, 4/15/32 | 2,972 |
3,198 | Government National Mortgage Association I, 6.500%, 4/15/32 | 3,282 |
13,394 | Government National Mortgage Association I, 6.500%, 4/15/32 | 13,792 |
1,585 | Government National Mortgage Association I, 6.500%, 5/15/32 | 1,620 |
1,628 | Government National Mortgage Association I, 6.500%, 5/15/32 | 1,679 |
3,479 | Government National Mortgage Association I, 6.500%, 5/15/32 | 3,601 |
869 | Government National Mortgage Association I, 6.500%, 5/15/32 | 896 |
4,559 | Government National Mortgage Association I, 6.500%, 6/15/32 | 4,728 |
4,722 | Government National Mortgage Association I, 6.500%, 7/15/32 | 4,887 |
35,105 | Government National Mortgage Association I, 6.500%, 7/15/32 | 36,763 |
4,536 | Government National Mortgage Association I, 6.500%, 7/15/32 | 4,631 |
12,500 | Government National Mortgage Association I, 6.500%, 8/15/32 | 12,887 |
The accompanying notes are an integral part of these financial statements.
68Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
11,256 | Government National Mortgage Association I, 6.500%, 8/15/32 | $ 11,495 |
2,608 | Government National Mortgage Association I, 6.500%, 8/15/32 | 2,696 |
17,673 | Government National Mortgage Association I, 6.500%, 9/15/32 | 18,225 |
8,305 | Government National Mortgage Association I, 6.500%, 9/15/32 | 8,494 |
7,834 | Government National Mortgage Association I, 6.500%, 9/15/32 | 8,039 |
12,040 | Government National Mortgage Association I, 6.500%, 10/15/32 | 12,345 |
15,502 | Government National Mortgage Association I, 6.500%, 11/15/32 | 15,775 |
80,129 | Government National Mortgage Association I, 6.500%, 12/15/32 | 82,649 |
89,570 | Government National Mortgage Association I, 6.500%, 1/15/33 | 92,005 |
847 | Government National Mortgage Association I, 6.500%, 1/15/33 | 878 |
13,638 | Government National Mortgage Association I, 6.500%, 5/15/33 | 14,039 |
586 | Government National Mortgage Association I, 6.500%, 10/15/33 | 608 |
41,391 | Government National Mortgage Association I, 6.500%, 6/15/34 | 42,835 |
8,489 | Government National Mortgage Association I, 6.500%, 4/15/35 | 8,744 |
3,427 | Government National Mortgage Association I, 6.500%, 6/15/35 | 3,650 |
13,457 | Government National Mortgage Association I, 6.500%, 7/15/35 | 14,219 |
49,171 | Government National Mortgage Association I, 6.500%, 7/15/35 | 50,885 |
475 | Government National Mortgage Association I, 7.000%, 9/15/24 | 474 |
103 | Government National Mortgage Association I, 7.000%, 7/15/25 | 103 |
780 | Government National Mortgage Association I, 7.000%, 11/15/26 | 783 |
1,847 | Government National Mortgage Association I, 7.000%, 6/15/27 | 1,864 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2369
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
3,443 | Government National Mortgage Association I, 7.000%, 1/15/28 | $ 3,473 |
2,294 | Government National Mortgage Association I, 7.000%, 4/15/28 | 2,304 |
3,897 | Government National Mortgage Association I, 7.000%, 7/15/28 | 3,935 |
293 | Government National Mortgage Association I, 7.000%, 8/15/28 | 299 |
3,215 | Government National Mortgage Association I, 7.000%, 11/15/28 | 3,304 |
10,811 | Government National Mortgage Association I, 7.000%, 11/15/28 | 11,074 |
11,996 | Government National Mortgage Association I, 7.000%, 4/15/29 | 12,076 |
8,508 | Government National Mortgage Association I, 7.000%, 4/15/29 | 8,547 |
12,810 | Government National Mortgage Association I, 7.000%, 5/15/29 | 12,904 |
1,923 | Government National Mortgage Association I, 7.000%, 7/15/29 | 1,940 |
22,294 | Government National Mortgage Association I, 7.000%, 11/15/29 | 22,600 |
8,346 | Government National Mortgage Association I, 7.000%, 12/15/30 | 8,606 |
1,065 | Government National Mortgage Association I, 7.000%, 12/15/30 | 1,072 |
27,570 | Government National Mortgage Association I, 7.000%, 1/15/31 | 27,816 |
6,956 | Government National Mortgage Association I, 7.000%, 6/15/31 | 7,302 |
886 | Government National Mortgage Association I, 7.000%, 7/15/31 | 927 |
44,104 | Government National Mortgage Association I, 7.000%, 8/15/31 | 46,090 |
6,075 | Government National Mortgage Association I, 7.000%, 9/15/31 | 6,120 |
5,732 | Government National Mortgage Association I, 7.000%, 9/15/31 | 5,784 |
5,363 | Government National Mortgage Association I, 7.000%, 11/15/31 | 5,427 |
22,590 | Government National Mortgage Association I, 7.000%, 3/15/32 | 22,821 |
The accompanying notes are an integral part of these financial statements.
70Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
16,858 | Government National Mortgage Association I, 7.000%, 4/15/32 | $ 17,152 |
34,283 | Government National Mortgage Association I, 7.000%, 5/15/32 | 36,204 |
38 | Government National Mortgage Association I, 7.500%, 6/15/24 | 38 |
1,373 | Government National Mortgage Association I, 7.500%, 8/15/25 | 1,372 |
400 | Government National Mortgage Association I, 7.500%, 9/15/25 | 400 |
1,515 | Government National Mortgage Association I, 7.500%, 2/15/27 | 1,514 |
5,813 | Government National Mortgage Association I, 7.500%, 3/15/27 | 5,912 |
12,531 | Government National Mortgage Association I, 7.500%, 10/15/27 | 12,698 |
910 | Government National Mortgage Association I, 7.500%, 6/15/29 | 912 |
2,345 | Government National Mortgage Association I, 7.500%, 8/15/29 | 2,348 |
3,680 | Government National Mortgage Association I, 7.500%, 9/15/29 | 3,677 |
10,349 | Government National Mortgage Association I, 7.500%, 2/15/31 | 10,442 |
9,326 | Government National Mortgage Association I, 7.500%, 2/15/31 | 9,388 |
3,655 | Government National Mortgage Association I, 7.500%, 3/15/31 | 3,674 |
2,661 | Government National Mortgage Association I, 7.500%, 12/15/31 | 2,658 |
1,339 | Government National Mortgage Association I, 7.750%, 2/15/30 | 1,348 |
104,854 | Government National Mortgage Association II, 3.500%, 3/20/45 | 96,296 |
222,056 | Government National Mortgage Association II, 3.500%, 4/20/45 | 208,834 |
428,542 | Government National Mortgage Association II, 3.500%, 4/20/45 | 403,624 |
161,733 | Government National Mortgage Association II, 3.500%, 4/20/45 | 151,994 |
490,469 | Government National Mortgage Association II, 3.500%, 3/20/46 | 463,308 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2371
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
1,626,120 | Government National Mortgage Association II, 4.000%, 7/20/44 | $ 1,592,157 |
64,499 | Government National Mortgage Association II, 4.000%, 9/20/44 | 63,139 |
388,666 | Government National Mortgage Association II, 4.000%, 10/20/44 | 380,352 |
1,197,132 | Government National Mortgage Association II, 4.000%, 10/20/46 | 1,158,565 |
705,217 | Government National Mortgage Association II, 4.000%, 2/20/48 | 676,580 |
898,910 | Government National Mortgage Association II, 4.000%, 4/20/48 | 862,165 |
2,165,024 | Government National Mortgage Association II, 4.000%, 9/20/52 | 2,065,781 |
16,213 | Government National Mortgage Association II, 4.500%, 12/20/34 | 16,236 |
80,876 | Government National Mortgage Association II, 4.500%, 1/20/35 | 80,988 |
12,396 | Government National Mortgage Association II, 4.500%, 3/20/35 | 12,413 |
314,004 | Government National Mortgage Association II, 4.500%, 9/20/41 | 314,067 |
1,135,102 | Government National Mortgage Association II, 4.500%, 9/20/44 | 1,136,428 |
424,101 | Government National Mortgage Association II, 4.500%, 10/20/44 | 424,711 |
823,827 | Government National Mortgage Association II, 4.500%, 11/20/44 | 825,010 |
898,090 | Government National Mortgage Association II, 4.500%, 2/20/48 | 888,862 |
3,104,408 | Government National Mortgage Association II, 4.500%, 9/20/52 | 3,030,279 |
5,672,815 | Government National Mortgage Association II, 4.500%, 10/20/52 | 5,537,065 |
13,059,554 | Government National Mortgage Association II, 5.000%, 12/20/52 | 12,976,500 |
54,211 | Government National Mortgage Association II, 5.500%, 3/20/34 | 56,449 |
44,011 | Government National Mortgage Association II, 5.500%, 4/20/34 | 45,830 |
17,222 | Government National Mortgage Association II, 5.500%, 10/20/37 | 17,675 |
The accompanying notes are an integral part of these financial statements.
72Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
579,119 | Government National Mortgage Association II, 5.500%, 9/20/52 | $ 583,878 |
4,709,532 | Government National Mortgage Association II, 5.500%, 12/20/52 | 4,746,783 |
46,722 | Government National Mortgage Association II, 5.750%, 6/20/33 | 48,076 |
11,546 | Government National Mortgage Association II, 5.900%, 1/20/28 | 11,938 |
20,259 | Government National Mortgage Association II, 5.900%, 7/20/28 | 20,799 |
5,026 | Government National Mortgage Association II, 6.000%, 10/20/31 | 5,244 |
24,518 | Government National Mortgage Association II, 6.000%, 1/20/33 | 25,406 |
28,127 | Government National Mortgage Association II, 6.000%, 10/20/33 | 29,701 |
16,922 | Government National Mortgage Association II, 6.000%, 6/20/34 | 17,869 |
40,480 | Government National Mortgage Association II, 6.450%, 1/20/33 | 41,454 |
8,740 | Government National Mortgage Association II, 6.500%, 8/20/28 | 8,954 |
417 | Government National Mortgage Association II, 6.500%, 2/20/29 | 427 |
168 | Government National Mortgage Association II, 6.500%, 3/20/29 | 172 |
5,222 | Government National Mortgage Association II, 6.500%, 4/20/29 | 5,369 |
3,211 | Government National Mortgage Association II, 6.500%, 4/20/31 | 3,349 |
2,514 | Government National Mortgage Association II, 6.500%, 6/20/31 | 2,622 |
11,789 | Government National Mortgage Association II, 6.500%, 10/20/32 | 12,103 |
14,684 | Government National Mortgage Association II, 6.500%, 3/20/34 | 15,095 |
942 | Government National Mortgage Association II, 7.000%, 5/20/26 | 968 |
4,119 | Government National Mortgage Association II, 7.000%, 8/20/27 | 4,235 |
3,801 | Government National Mortgage Association II, 7.000%, 6/20/28 | 3,908 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2373
Schedule of Investments | 12/31/23
(unaudited) (continued)
Principal Amount USD ($) | | | | | | Value |
| U.S. Government and Agency Obligations — (continued) | |
17,051 | Government National Mortgage Association II, 7.000%, 11/20/28 | $ 17,531 |
15,149 | Government National Mortgage Association II, 7.000%, 1/20/29 | 15,576 |
1,417 | Government National Mortgage Association II, 7.000%, 2/20/29 | 1,457 |
527 | Government National Mortgage Association II, 7.000%, 12/20/30 | 542 |
2,868 | Government National Mortgage Association II, 7.000%, 1/20/31 | 3,012 |
1,617 | Government National Mortgage Association II, 7.000%, 3/20/31 | 1,685 |
9,403 | Government National Mortgage Association II, 7.000%, 7/20/31 | 9,885 |
3,090 | Government National Mortgage Association II, 7.000%, 11/20/31 | 3,231 |
3,281 | Government National Mortgage Association II, 7.500%, 5/20/30 | 3,423 |
836 | Government National Mortgage Association II, 7.500%, 6/20/30 | 862 |
814 | Government National Mortgage Association II, 7.500%, 7/20/30 | 828 |
3,193 | Government National Mortgage Association II, 7.500%, 8/20/30 | 3,337 |
1,504 | Government National Mortgage Association II, 7.500%, 12/20/30 | 1,565 |
2 | Government National Mortgage Association II, 8.000%, 5/20/25 | 2 |
85 | Government National Mortgage Association II, 9.000%, 11/20/24 | 85 |
150,000,000(e) | U.S. Treasury Bills, 1/16/24 | 149,693,313 |
50,374,800 | U.S. Treasury Bonds, 2.250%, 2/15/52 | 34,919,969 |
57,701,200 | U.S. Treasury Bonds, 2.875%, 5/15/52 | 45,940,073 |
73,375,000 | U.S. Treasury Bonds, 3.625%, 2/15/53 | 67,757,227 |
136,312,900 | U.S. Treasury Bonds, 4.375%, 8/15/43 | 139,145,652 |
44,516,035 | U.S. Treasury Inflation Indexed Bonds, 1.500%, 2/15/53 | 40,309,581 |
209,911,000 | U.S. Treasury Notes, 4.625%, 9/30/30 | 218,815,819 |
| Total U.S. Government and Agency Obligations (Cost $2,302,790,002) | $2,320,786,462 |
|
|
The accompanying notes are an integral part of these financial statements.
74Pioneer Bond Fund | Semiannual Report | 12/31/23
Principal Amount USD ($) | | | | | | Value |
|
| SHORT TERM INVESTMENTS — 1.7% of Net Assets | |
| Repurchase Agreements — 0.8% | |
35,190,000 | Bank of America, 5.34%, dated 12/29/23, to be purchased on 1/2/24 for $35,210,879, collateralized by $35,893,800 Government National Mortgage Association, 1.5%-7.5%, 4/15/30-11/20/73 | $ 35,190,000 |
| | | | | | $ 35,190,000 |
|
|
Shares | | | | | | |
| Open-End Fund — 0.9% | |
42,457,470(k) | Dreyfus Government Cash Management, Institutional Shares, 5.25% | $ 42,457,470 |
| | | | | | $ 42,457,470 |
|
|
| TOTAL SHORT TERM INVESTMENTS (Cost $77,647,470) | $77,647,470 |
|
|
| TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 107.2% (Cost $5,000,638,128) | $4,828,778,013 |
Principal Amount USD ($) | | | | | | |
| TBA SALES COMMITMENTS — (6.3)% of Net Assets | |
| U.S. Government and Agency Obligations — (6.3)% | |
(282,000,000) | Federal National Mortgage Association, 5.500%, 1/1/54 (TBA) | $ (283,189,688) |
| TOTAL TBA SALES COMMITMENTS (Proceeds $282,352,500) | $(283,189,688) |
|
|
| OTHER ASSETS AND LIABILITIES — (0.9)% | $ (40,959,968) |
| net assets — 100.0% | $4,504,628,357 |
| | | | | | |
(TBA) | “To Be Announced” Securities. |
bps | Basis Points. |
CMT | Constant Maturity Treasury Index. |
FREMF | Freddie Mac Multifamily Fixed-Rate Mortgage Loans. |
FRESB | Freddie Mac Multifamily Small Balance Certificates. |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2375
Schedule of Investments | 12/31/23
(unaudited) (continued)
LIBOR | London Interbank Offered Rate. |
PRIME | U.S. Federal Funds Rate. |
REIT | Real Estate Investment Trust. |
REMICs | Real Estate Mortgage Investment Conduits. |
SOFR | Secured Overnight Financing Rate. |
SOFR30A | Secured Overnight Financing Rate 30 Day Average. |
(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 December 31, 2023, the value of these securities amounted to $1,422,576,637, or 31.6% of net assets. |
(a) | Floating rate note. Coupon rate, reference index and spread shown at December 31, 2023. |
(b) | The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at December 31, 2023. |
(c) | Debt obligation initially issued at one coupon which converts to a higher coupon at a specific date. The rate shown is the rate at December 31, 2023. |
(d) | Security represents the interest-only portion payments on a pool of underlying mortgages or mortgage-backed securities. |
(e) | Security issued with a zero coupon. Income is recognized through accretion of discount. |
(f) | Security is perpetual in nature and has no stated maturity date. |
(g) | Consists of Revenue Bonds unless otherwise indicated. |
(h) | Non-income producing security. |
(i) | Issued as participation notes. |
(j) | Issued as preference shares. |
(k) | Rate periodically changes. Rate disclosed is the 7-day yield at December 31, 2023. |
* | Senior secured floating rate loan interests in which the Fund invests generally pay interest at rates that are periodically re-determined 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 or SOFR, (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 December 31, 2023. |
+ | Security is valued using significant unobservable inputs (Level 3). |
† | Amount rounds to less than 0.1%. |
# | Securities are restricted as to resale. |
Restricted Securities | Acquisition date | Cost | Value |
2001 Cat Re | 11/14/2023 | $ 750,000 | $ 751,875 |
Alamo Re | 4/12/2023 | 1,256,000 | 1,273,750 |
Alamo Re | 11/15/2023 | 2,301,322 | 2,300,276 |
Alturas Re 2020-3 | 8/3/2020 | — | — |
Alturas Re 2021-3 | 8/16/2021 | 25,777 | 11,111 |
The accompanying notes are an integral part of these financial statements.
76Pioneer Bond Fund | Semiannual Report | 12/31/23
Restricted Securities | Acquisition date | Cost | Value |
Alturas Re 2022-2 | 1/18/2022 | $ 744,399 | $ 905,770 |
Aquila Re I | 5/10/2023 | 850,000 | 865,810 |
Atlas Capital | 5/17/2023 | 2,000,000 | 1,998,200 |
Ballybunion Re 2020 | 12/31/2019 | 548,976 | 903,792 |
Ballybunion Re 2021-3 | 8/4/2021 | 47,291 | 50,308 |
Ballybunion Re 2022 | 3/9/2022 | 2,797 | 33,163 |
Ballybunion Re 2022-2 | 8/5/2022 | 3,000,000 | 3,046,530 |
Ballybunion Re 2022-3 | 8/5/2022 | 4,000,000 | 4,138,433 |
Ballybunion Re 2023 | 3/20/2023 | 3,500,000 | 3,899,668 |
Bantry Re 2021 | 1/11/2021 | 81,427 | 60,000 |
Bantry Re 2023 | 1/12/2023 | 6,000,000 | 7,389,000 |
Berwick Re 2019-1 | 12/31/2018 | 870,105 | 873,808 |
Berwick Re 2020-1 | 9/24/2020 | — | 300 |
Berwick Re 2022 | 12/28/2021 | 80,457 | 86,757 |
Berwick Re 2023 | 2/1/2023 | 4,147,668 | 5,111,306 |
Blue Ridge Re | 11/14/2023 | 1,000,000 | 998,500 |
Blue Ridge Re | 11/14/2023 | 1,750,000 | 1,747,375 |
Bonanza Re | 3/11/2022 | 250,000 | 236,375 |
Bonanza Re | 1/6/2023 | 300,000 | 299,490 |
Caelus Re V | 4/27/2017 | 100,000 | 80,000 |
Cape Lookout Re | 4/14/2023 | 1,100,000 | 1,119,470 |
Cape Lookout Re | 10/27/2023 | 1,744,487 | 1,744,750 |
Carnoustie Re 2020 | 7/16/2020 | 50,471 | 230,656 |
Clarendon Re 2023 | 3/20/2023 | 916,657 | 1,058,500 |
Commonwealth Re | 6/15/2022 | 1,000,000 | 994,300 |
Easton Re Pte | 7/19/2022 | 249,862 | 249,250 |
Eccleston Re 2023 | 7/13/2023 | — | 696,437 |
Eden Re II | 12/16/2019 | 152,308 | 60,060 |
Eden Re II | 12/23/2019 | 445,555 | 179,840 |
Eden Re II | 1/25/2021 | 332,268 | 96,049 |
Eden Re II | 1/21/2022 | 512,617 | 306,696 |
Eden Re II | 1/17/2023 | 3,600,000 | 4,280,400 |
Everglades Re II | 10/24/2023 | 1,994,272 | 1,993,000 |
Everglades Re II | 10/25/2023 | 4,118,617 | 4,130,750 |
Everglades Re II | 10/25/2023 | 2,471,700 | 2,478,175 |
FloodSmart Re | 2/16/2021 | 1,250,000 | 1,248,750 |
FloodSmart Re | 2/14/2022 | 2,000,000 | 1,945,400 |
Formby Re 2018 | 7/9/2018 | 4,661 | — |
Four Lakes Re | 12/15/2021 | 500,000 | 485,650 |
Four Lakes Re | 12/22/2022 | 3,000,000 | 3,041,700 |
Four Lakes Re | 12/8/2023 | 750,000 | 749,625 |
Galileo Re | 12/4/2023 | 1,250,000 | 1,248,125 |
Galileo Re | 12/4/2023 | 750,000 | 748,875 |
Gamboge Re | 4/24/2023 | 4,859,847 | 6,030,600 |
Gateway Re | 2/3/2023 | 700,000 | 728,490 |
Gateway Re | 11/9/2023 | 999,099 | 996,500 |
Gateway Re II | 4/13/2023 | 250,000 | 252,300 |
Gleneagles Re 2021 | 1/13/2021 | 22,875 | 125 |
Gleneagles Re 2022 | 1/18/2022 | 555,118 | 594,125 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2377
Schedule of Investments | 12/31/23
(unaudited) (continued)
Restricted Securities | Acquisition date | Cost | Value |
Gullane Re 2018 | 3/26/2018 | $ — | $ 100,036 |
Gullane Re 2023 | 1/20/2023 | 6,381,951 | 8,033,160 |
Harambee Re 2018 | 12/19/2017 | 42,461 | — |
Harambee Re 2019 | 12/20/2018 | — | 7,500 |
Harambee Re 2020 | 2/27/2020 | — | 61,600 |
Herbie Re | 10/19/2020 | 500,000 | 492,400 |
High Point Re | 12/1/2023 | 3,500,000 | 3,498,250 |
Integrity Re | 5/9/2022 | 750,000 | 718,800 |
Integrity Re | 3/23/2023 | 1,500,000 | 1,557,000 |
International Bank for Reconstruction & Development | 2/28/2020 | 250,000 | 249,500 |
International Bank for Reconstruction & Development | 11/2/2023 | 305,400 | 299,400 |
Isosceles Re 2023 | 8/7/2023 | 234,356 | 249,750 |
Isosceles Re 2023 | 8/7/2023 | — | — |
Isosceles Re 2023 | 8/7/2023 | — | — |
Kilimanjaro III Re | 6/15/2022 | 1,000,000 | 1,001,000 |
Lightning Re | 3/20/2023 | 1,000,000 | 1,056,000 |
Limestone Re 2019-2B | 6/20/2018 | 1,101 | 298 |
Limestone Re 2020-1 | 12/15/2016 | — | — |
Limestone Re 2020-1 | 12/27/2019 | — | — |
Lion Rock Re 2020 | 3/27/2020 | — | — |
Lion Rock Re 2021 | 3/1/2021 | 165,491 | 55,900 |
Locke Tavern Re | 3/23/2023 | 1,000,000 | 1,008,600 |
Long Point Re IV | 5/13/2022 | 3,500,000 | 3,454,850 |
Lorenz Re 2019 | 6/26/2019 | 490,512 | 28,735 |
Matterhorn Re | 1/29/2020 | 1,249,968 | 437,500 |
Matterhorn Re | 12/15/2021 | 250,000 | 230,300 |
Matterhorn Re | 3/10/2022 | 2,000,000 | 1,950,000 |
Matterhorn Re | 3/10/2022 | 1,000,000 | 984,000 |
Merion Re 2018-2 | 12/28/2017 | — | 349,888 |
Merion Re 2021-2 | 12/28/2020 | 2,448,845 | 1,444,500 |
Merion Re 2022-2 | 3/1/2022 | 6,551,154 | 6,211,224 |
Merion Re 2023-1 | 1/11/2023 | 441,808 | 527,343 |
Mona Lisa Re | 12/30/2022 | 1,000,000 | 1,073,000 |
Mystic Re IV | 12/16/2022 | 3,400,000 | 3,505,740 |
Mystic Re IV | 12/12/2023 | 1,000,000 | 999,500 |
Northshore Re II | 6/22/2022 | 750,000 | 767,400 |
Oakmont Re 2020 | 12/3/2020 | — | — |
Oakmont Re 2022 | 5/9/2022 | 1,035,197 | 1,415,275 |
Old Head Re 2022 | 1/6/2022 | 188,288 | 125,000 |
Old Head Re 2023 | 1/11/2023 | 168,991 | 260,225 |
Pangaea Re 2023-1 | 1/23/2023 | 4,750,000 | 5,774,493 |
Pangaea Re 2023-3 | 7/5/2023 | 2,970,693 | 3,370,579 |
Phoenician Re | 12/1/2021 | 1,000,000 | 985,500 |
Phoenix 3 Re 2023-3 | 12/21/2020 | 1,120,701 | 1,404,750 |
Pine Valley Re 2023 | 1/24/2023 | 893,730 | — |
Porthcawl Re 2023 | 1/23/2023 | 197,811 | 261,350 |
Portsalon Re 2022 | 7/15/2022 | 404,317 | 458,460 |
The accompanying notes are an integral part of these financial statements.
78Pioneer Bond Fund | Semiannual Report | 12/31/23
Restricted Securities | Acquisition date | Cost | Value |
Queen Street 2023 Re | 5/12/2023 | $3,000,000 | $ 3,052,800 |
Residential Re | 11/22/2022 | 1,750,000 | 1,780,275 |
Residential Re | 11/7/2023 | 2,500,000 | 2,496,250 |
Residential Re | 11/7/2023 | 1,000,000 | 998,500 |
RosaPenna Re 2022 | 8/26/2022 | 1,802,211 | 1,923,211 |
Sanders Re II | 11/23/2021 | 2,754,375 | 2,627,075 |
Sanders Re III | 11/30/2022 | 1,000,000 | 1,017,900 |
Sector Re V | 4/23/2019 | 406,868 | 315,994 |
Sector Re V | 5/1/2019 | 1,914 | 47,184 |
Sector Re V | 12/4/2019 | 2,141 | 359,856 |
Sector Re V | 1/1/2020 | 2,041 | 179,926 |
Sector Re V | 12/6/2021 | — | 34,663 |
Sector Re V | 1/5/2022 | — | 291,166 |
Sector Re V | 12/30/2022 | 4,605,987 | 5,932,511 |
Sector Re V | 12/4/2023 | 5,000,000 | 5,072,781 |
Sussex Re 2020-1 | 1/21/2020 | — | 4,693 |
Sussex Re 2021-1 | 1/26/2021 | — | 875 |
Thopas Re 2019 | 12/21/2018 | — | 41,400 |
Thopas Re 2020 | 12/30/2019 | — | 1,200 |
Thopas Re 2021 | 12/30/2020 | — | 112,700 |
Thopas Re 2022 | 2/15/2022 | — | 32,400 |
Thopas Re 2023 | 2/15/2023 | 4,256,392 | 5,380,931 |
Torricelli Re 2021 | 7/2/2021 | — | 105,711 |
Torricelli Re 2022 | 7/26/2022 | — | 100,800 |
Torricelli Re 2023 | 7/26/2023 | 4,500,000 | 5,338,890 |
Ursa Re | 4/12/2023 | 750,000 | 750,525 |
Veraison Re | 12/14/2022 | 500,000 | 517,050 |
Viribus Re 2018 | 12/22/2017 | 21,118 | — |
Viribus Re 2019 | 12/27/2018 | — | 11,315 |
Viribus Re 2020 | 3/12/2020 | 421,904 | 137,434 |
Viribus Re 2022 | 4/18/2022 | — | 110,100 |
Viribus Re 2023 | 2/2/2023 | 2,000,000 | 2,765,000 |
Vitality Re XI | 1/31/2020 | 1,749,516 | 1,744,750 |
Vitality Re XIII | 1/4/2023 | 2,166,813 | 2,210,625 |
Vitality Re XIV | 1/25/2023 | 6,023,750 | 5,997,000 |
Vitality Re XIV | 1/25/2023 | 750,000 | 749,325 |
Walton Health Re 2019 | 7/18/2019 | 9,900 | 88,088 |
Walton Health Re 2022 | 7/13/2022 | 8,750 | 364,384 |
White Heron Re 2023 | 8/30/2023 | 1,162,378 | 1,267,336 |
Woburn Re 2019 | 1/30/2019 | 661,677 | 833,660 |
Total Restricted Securities | | | $183,955,285 |
% of Net assets | | | 4.1% |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2379
Schedule of Investments | 12/31/23
(unaudited) (continued)
FUTURES CONTRACTS
FIXED INCOME INDEX FUTURES CONTRACTS
Number of Contracts Long | Description | Expiration Date | Notional Amount | Market Value | Unrealized Appreciation |
1,720 | U.S. 2 Year Note (CBT) | 3/28/24 | $ 350,427,287 | $ 354,172,187 | $ 3,744,900 |
9,706 | U.S. 5 Year Note (CBT) | 3/28/24 | 1,031,459,927 | 1,055,755,008 | 24,295,081 |
152 | U.S. 10 Year Note (CBT) | 3/19/24 | 16,850,485 | 17,159,376 | 308,891 |
| | | $1,398,737,699 | $1,427,086,571 | $28,348,872 |
Number of Contracts Short | Description | Expiration Date | Notional Amount | Market Value | Unrealized Appreciation (Depreciation) |
98 | U.S. Long Bond (CBT) | 3/19/24 | $ (11,334,054) | $ (12,243,875) | $ (909,821) |
352 | U.S. Ultra Bond (CBT) | 3/19/24 | (43,323,223) | (47,025,000) | (3,701,777) |
| | | $ (54,657,277) | $ (59,268,875) | $ (4,611,598) |
TOTAL FUTURES CONTRACTS | $1,344,080,422 | $1,367,817,696 | $23,737,274 |
SWAP CONTRACTS
CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS – BUY PROTECTION
Notional Amount ($)(1) | Reference Obligation/Index | Pay/ Receive(2) | Annual Fixed Rate | Expiration Date | Premiums (Received) | Unrealized (Depreciation) | Market Value |
374,724,900 | Markit CDX North America High Yield Index Series 41 | Pay | 5.00% | 12/20/28 | $(3,429,130) | $(19,117,418) | $(22,546,548) |
TOTAL CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS – BUY PROTECTION | $ (3,429,130) | $ (19,117,418) | $ (22,546,548) |
| |
(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. |
The accompanying notes are an integral part of these financial statements.
80Pioneer Bond Fund | Semiannual Report | 12/31/23
Purchases and sales of securities (excluding short-term investments) for the six months ended December 31, 2023 were as follows:
| Purchases | Sales |
Long-Term U.S. Government Securities | $ 429,108,626 | $ 448,229,362 |
Other Long-Term Securities | $1,324,537,771 | $1,011,011,189 |
At December 31, 2023, the net unrealized depreciation on investments based on cost for federal tax purposes of $4,700,832,614 was as follows:
Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost | $ 112,003,204 |
Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value | (266,056,769) |
Net unrealized depreciation | $(154,053,565) |
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.). See Notes to Financial Statements — Note 1A. |
Level 3 | – | significant unobservable inputs (including the Adviser's own assumptions in determining fair value of investments). See Notes to Financial Statements — Note 1A. |
The following is a summary of the inputs used as of December 31, 2023 in valuing the Fund's investments:
| Level 1 | Level 2 | Level 3 | Total |
Senior Secured Floating Rate Loan Interests | $ — | $ 12,667,187 | $ — | $ 12,667,187 |
Asset Backed Securities | — | 350,457,373 | — | 350,457,373 |
Collateralized Mortgage Obligations | — | 344,171,046 | — | 344,171,046 |
Commercial Mortgage-Backed Securities | — | 176,273,568 | —* | 176,273,568 |
Corporate Bonds | — | 1,360,473,321 | — | 1,360,473,321 |
Municipal Bonds | — | 2,346,301 | — | 2,346,301 |
Insurance-Linked Securities | | | | |
Collateralized Reinsurance | | | | |
Multiperil – Massachusetts | — | — | 458,460 | 458,460 |
Multiperil – U.S. | — | — | 18,102,494 | 18,102,494 |
Multiperil – Worldwide | — | — | 2,685,188 | 2,685,188 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2381
Schedule of Investments | 12/31/23
(unaudited) (continued)
| Level 1 | Level 2 | Level 3 | Total |
Windstorm – Florida | $ — | $ — | $ —* | $ —* |
Windstorm – North Carolina | — | — | 249,750 | 249,750 |
Windstorm – U.S. Multistate | — | — | 1,267,336 | 1,267,336 |
Windstorm – U.S. Regional | — | — | 1,415,275 | 1,415,275 |
Reinsurance Sidecars | | | | |
Multiperil – U.S. | — | — | 299,756 | 299,756 |
Multiperil – Worldwide | — | — | 76,559,450 | 76,559,450 |
All Other Insurance-Linked Securities | — | 82,917,576 | — | 82,917,576 |
U.S. Government and Agency Obligations | — | 2,320,786,462 | — | 2,320,786,462 |
Repurchase Agreements | — | 35,190,000 | — | 35,190,000 |
Open-End Fund | 42,457,470 | — | — | 42,457,470 |
Total Investments in Securities | $ 42,457,470 | $ 4,685,282,834 | $101,037,709 | $ 4,828,778,013 |
Liabilities | | | | |
TBA Sales Commitments | $ — | $ (283,189,688) | $ — | $ (283,189,688) |
Total Liabilities | $ — | $ (283,189,688) | $ — | $ (283,189,688) |
Other Financial Instruments | | | | |
Net unrealized appreciation on futures contracts | $23,737,274 | $ — | $ — | $ 23,737,274 |
Centrally cleared swap contracts | — | (19,117,418) | — | (19,117,418) |
Total Other Financial Instruments | $ 23,737,274 | $ (19,117,418) | $ — | $ 4,619,856 |
* | Securities valued at $0. |
The accompanying notes are an integral part of these financial statements.
82Pioneer Bond Fund | Semiannual Report | 12/31/23
The following is a reconciliation of assets valued using significant unobservable inputs (Level 3):
| Insurance- Linked Securities |
Balance as of 6/30/23 | $ 95,680,914 |
Realized gain (loss)(1) | (683,557 ) |
Changed in unrealized appreciation (depreciation)(2) | 8,825,493 |
Return of capital | (16,270,103 ) |
Purchases | 21,012,254 |
Sales | (7,527,292 ) |
Transfers in to Level 3* | — |
Transfers out of Level 3* | — |
Balance as of 12/31/23 | $101,037,709 |
(1) | Realized gain (loss) on these securities is included in the realized gain (loss) from investments on the Statement of Operations. |
(2) | Unrealized appreciation (depreciation) on these securities is included in the change in unrealized appreciation (depreciation) from investments on the Statement of Operations. |
* | Transfers are calculated on the beginning of period values. During the six months ended December 31, 2023, a security valued at $0 was transferred from Level 2 to Level 3, due to valuing the security using unobservable inputs. There were no other transfers in or out of Level 3 during the period. |
Net change in unrealized appreciation (depreciation) of Level 3 investments still held and considered Level 3 at December 31, 2023: | $8,853,803 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2383
Statement of Assets and Liabilities | 12/31/23
(unaudited)
ASSETS: | |
Investments in unaffiliated issuers, at value (cost $5,000,638,128) | $4,828,778,013 |
Cash | 21,668,056 |
Foreign currencies, at value (cost $18) | 19 |
Futures collateral | 16,678,596 |
Swaps collateral | 44,126,217 |
Variation margin for futures contracts | 1,254,509 |
Receivables — | |
Investment securities sold | 298,963,463 |
Fund shares sold | 23,213,596 |
Interest | 32,448,734 |
Other assets | 128,145 |
Total assets | $5,267,259,348 |
LIABILITIES: | |
Payables — | |
Investment securities purchased | $ 427,259,041 |
Fund shares repurchased | 20,765,708 |
Distributions | 2,610,770 |
Trustees' fees | 13,612 |
Interest expense | 646,250 |
Variation margin for centrally cleared swap contracts | 22,546,548 |
Collateral due from broker for TBA Securities | 4,152,234 |
TBA sale commitments at value (proceeds received $282,352,500) | 283,189,688 |
Management fees | 177,179 |
Administrative expenses | 178,864 |
Distribution fees | 30,972 |
Accrued expenses | 1,060,125 |
Total liabilities | $ 762,630,991 |
NET ASSETS: | |
Paid-in capital | $5,243,740,980 |
Distributable earnings (loss) | (739,112,623) |
Net assets | $4,504,628,357 |
NET ASSET VALUE PER SHARE: | |
No par value (unlimited number of shares authorized) | |
Class A (based on $525,101,908/62,695,402 shares) | $ 8.38 |
Class C (based on $16,832,594/2,034,331 shares) | $ 8.27 |
Class K (based on $1,488,635,507/177,967,062 shares) | $ 8.36 |
Class R (based on $158,392,656/18,749,033 shares) | $ 8.45 |
Class Y (based on $2,315,665,692/279,449,223 shares) | $ 8.29 |
MAXIMUM OFFERING PRICE PER SHARE: | |
Class A (based on $8.38 net asset value per share/100%-4.50% maximum sales charge) | $ 8.77 |
The accompanying notes are an integral part of these financial statements.
84Pioneer Bond Fund | Semiannual Report | 12/31/23
Statement of Operations (unaudited)
FOR THE SIX MONTHS ENDED 12/31/23
INVESTMENT INCOME: | | |
Interest from unaffiliated issuers (net of foreign taxes withheld $1,605) | $ 104,168,863 | |
Dividends from unaffiliated issuers | 8,374,140 | |
Total Investment Income | | $ 112,543,003 |
EXPENSES: | | |
Management fees | $ 6,411,070 | |
Administrative expenses | 540,380 | |
Transfer agent fees | | |
Class A | 442,283 | |
Class C | 6,553 | |
Class K | 1,414 | |
Class R | 204,835 | |
Class Y | 1,293,963 | |
Distribution fees | | |
Class A | 644,991 | |
Class C | 79,853 | |
Class R | 387,664 | |
Shareholder communications expense | 93,762 | |
Custodian fees | 20,018 | |
Registration fees | 89,711 | |
Professional fees | 153,747 | |
Printing expense | 14,873 | |
Officers' and Trustees' fees | 144,661 | |
Insurance expense | 32,250 | |
Miscellaneous | 350,735 | |
Total expenses | | $ 10,912,763 |
Net investment income | | $ 101,630,240 |
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | | |
Net realized gain (loss) on: | | |
Reimbursement by the Adviser | $ 25,163 | |
Investments in unaffiliated issuers | (106,456,337) | |
Futures contracts | (44,951,722) | |
Swap contracts | (8,794,292) | |
Other assets and liabilities denominated in foreign currencies | (24) | $(160,177,212) |
Change in net unrealized appreciation (depreciation) on: | | |
Investments in unaffiliated issuers | $ 196,964,791 | |
TBA sale commitments | (837,188) | |
Futures contracts | 37,149,374 | |
Swap contracts | (12,160,671) | |
Other assets and liabilities denominated in foreign currencies | 1 | $ 221,116,307 |
Net realized and unrealized gain (loss) on investments | | $ 60,939,095 |
Net increase in net assets resulting from operations | | $ 162,569,335 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2385
Statements of Changes in Net Assets
| Six Months Ended 12/31/23 (unaudited) | Year Ended 6/30/23 |
FROM OPERATIONS: | | |
Net investment income (loss) | $ 101,630,240 | $ 178,428,999 |
Net realized gain (loss) on investments | (160,177,212) | (241,684,297) |
Change in net unrealized appreciation (depreciation) on investments | 221,116,307 | (8,108,961) |
Net increase (decrease) in net assets resulting from operations | $ 162,569,335 | $ (71,364,259) |
DISTRIBUTIONS TO SHAREHOLDERS: | | |
Class A ($0.15 and $0.23 per share, respectively) | $ (9,405,122) | $ (15,674,765) |
Class C ($0.12 and $0.18 per share, respectively) | (239,865) | (391,598) |
Class K ($0.17 and $0.27 per share, respectively) | (30,544,084) | (48,224,361) |
Class R ($0.14 and $0.21 per share, respectively) | (2,613,494) | (4,114,149) |
Class Y ($0.16 and $0.26 per share, respectively) | (45,777,278) | (67,735,045) |
Total distributions to shareholders | $ (88,579,843) | $ (136,139,918) |
FROM FUND SHARE TRANSACTIONS: | | |
Net proceeds from sales of shares | $ 819,658,097 | $ 1,583,055,341 |
Reinvestment of distributions | 77,427,341 | 119,408,212 |
Cost of shares repurchased | (944,223,021) | (1,608,071,894) |
Net increase (decrease) in net assets resulting from Fund share transactions | $ (47,137,583) | $ 94,391,659 |
Net increase (decrease) in net assets | $ 26,851,909 | $ (113,112,518) |
NET ASSETS: | | |
Beginning of period | $4,477,776,448 | $ 4,590,888,966 |
End of period | $4,504,628,357 | $ 4,477,776,448 |
The accompanying notes are an integral part of these financial statements.
86Pioneer Bond Fund | Semiannual Report | 12/31/23
| Six Months Ended 12/31/23 Shares (unaudited) | Six Months Ended 12/31/23 Amount (unaudited) | Year Ended 6/30/23 Shares | Year Ended 6/30/23 Amount |
Class A | | | | |
Shares sold | 6,731,861 | $ 54,316,051 | 15,947,548 | $ 132,250,419 |
Reinvestment of distributions | 956,511 | 7,699,478 | 1,513,896 | 12,545,029 |
Less shares repurchased | (11,240,524) | (90,698,642) | (23,950,304) | (199,879,949) |
Net decrease | (3,552,152) | $ (28,683,113) | (6,488,860) | $ (55,084,501) |
Class C | | | | |
Shares sold | 299,095 | $ 2,403,223 | 457,791 | $ 3,744,549 |
Reinvestment of distributions | 28,038 | 222,960 | 44,524 | 364,538 |
Less shares repurchased | (339,816) | (2,705,418) | (967,892) | (7,928,683) |
Net decrease | (12,683) | $ (79,235) | (465,577) | $ (3,819,596) |
Class K | | | | |
Shares sold | 32,278,733 | $ 259,289,571 | 58,655,203 | $ 487,163,148 |
Reinvestment of distributions | 3,180,187 | 25,558,781 | 4,969,389 | 41,138,139 |
Less shares repurchased | (38,760,859) | (308,421,297) | (61,630,199) | (513,351,156) |
Net increase (decrease) | (3,301,939) | $ (23,572,945) | 1,994,393 | $ 14,950,131 |
Class R | | | | |
Shares sold | 913,709 | $ 7,397,608 | 1,724,615 | $ 14,468,928 |
Reinvestment of distributions | 318,422 | 2,586,399 | 491,464 | 4,108,735 |
Less shares repurchased | (1,972,085) | (15,989,742) | (2,556,061) | (21,413,512) |
Net decrease | (739,954) | $ (6,005,735) | (339,982) | $ (2,835,849) |
Class Y | | | | |
Shares sold | 62,124,856 | $ 496,251,644 | 114,806,859 | $ 945,428,297 |
Reinvestment of distributions | 5,192,733 | 41,359,723 | 7,468,433 | 61,251,771 |
Less shares repurchased | (66,754,197) | (526,407,922) | (105,348,040) | (865,498,594) |
Net increase | 563,392 | $ 11,203,445 | 16,927,252 | $ 141,181,474 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2387
| Six Months Ended 12/31/23 (unaudited) | Year Ended 6/30/23 | Year Ended 6/30/22 | Year Ended 6/30/21 | Year Ended 6/30/20 | Year Ended 6/30/19 |
Class A | | | | | | |
Net asset value, beginning of period | $ 8.22 | $ 8.60 | $ 10.14 | $ 9.98 | $ 9.79 | $ 9.45 |
Increase (decrease) from investment operations: | | | | | | |
Net investment income (loss) (a) | $ 0.17 | $ 0.31 | $ 0.19 | $ 0.23 | $ 0.25 | $ 0.27 |
Net realized and unrealized gain (loss) on investments | 0.14 | (0.46) | (1.22) | 0.38 | 0.23 | 0.37 |
Net increase (decrease) from investment operations | $ 0.31 | $ (0.15) | $ (1.03) | $ 0.61 | $ 0.48 | $ 0.64 |
Distributions to shareholders: | | | | | | |
Net investment income | $ (0.15) | $ (0.23) | $ (0.16) | $ (0.27) | $ (0.29) | $ (0.30) |
Net realized gain | — | — | (0.35) | (0.18) | — | — |
Total distributions | $ (0.15) | $ (0.23) | $ (0.51) | $ (0.45) | $ (0.29) | $ (0.30) |
Net increase (decrease) in net asset value | $ 0.16 | $ (0.38) | $ (1.54) | $ 0.16 | $ 0.19 | $ 0.34 |
Net asset value, end of period | $ 8.38 | $ 8.22 | $ 8.60 | $ 10.14 | $ 9.98 | $ 9.79 |
Total return (b) | 3.83%(c)(d) | (1.70)% | (10.66)% | 6.26% | 5.01% | 6.93% |
Ratio of net expenses to average net assets | 0.78%(e) | 0.83% | 0.79% | 0.82% | 0.82% | 0.85% |
Ratio of net investment income (loss) to average net assets | 4.30%(e) | 3.76% | 2.02% | 2.26% | 2.58% | 2.88% |
Portfolio turnover rate | 38%(d) | 58% | 72% | 59% | 71% | 52% |
Net assets, end of period (in thousands) | $525,102 | $544,279 | $625,834 | $831,595 | $960,460 | $979,874 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: | | | | | | |
Total expenses to average net assets | 0.78%(e) | 0.83% | 0.79% | 0.82% | 0.82% | 0.87% |
Net investment income (loss) to average net assets | 4.30%(e) | 3.76% | 2.02% | 2.26% | 2.58% | 2.86% |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charges. Total return would be reduced if sales charges were taken into account. |
(c) | For the six months ended December 31, 2023, the Fund's total return includes a reimbursement by the Adviser (see Notes to the Financial Statements-Note 1.B). The impact on Class A's total return was less than 0.005%. |
(d) | Not annualized. |
(e) | Annualized. |
The accompanying notes are an integral part of these financial statements.
88Pioneer Bond Fund | Semiannual Report | 12/31/23
| Six Months Ended 12/31/23 (unaudited) | Year Ended 6/30/23 | Year Ended 6/30/22 | Year Ended 6/30/21 | Year Ended 6/30/20 | Year Ended 6/30/19 |
Class C | | | | | | |
Net asset value, beginning of period | $ 8.12 | $ 8.51 | $ 10.03 | $ 9.87 | $ 9.68 | $ 9.35 |
Increase (decrease) from investment operations: | | | | | | |
Net investment income (loss) (a) | $ 0.15 | $ 0.25 | $ 0.13 | $ 0.17 | $ 0.19 | $ 0.21 |
Net realized and unrealized gain (loss) on investments | 0.12 | (0.46) | (1.20) | 0.38 | 0.23 | 0.35 |
Net increase (decrease) from investment operations | $ 0.27 | $ (0.21) | $ (1.07) | $ 0.55 | $ 0.42 | $ 0.56 |
Distributions to shareholders: | | | | | | |
Net investment income | $ (0.12) | $ (0.18) | $ (0.10) | $ (0.21) | $ (0.23) | $ (0.23) |
Net realized gain | — | — | (0.35) | (0.18) | — | — |
Total distributions | $ (0.12) | $ (0.18) | $ (0.45) | $ (0.39) | $ (0.23) | $ (0.23) |
Net increase (decrease) in net asset value | $ 0.15 | $ (0.39) | $ (1.52) | $ 0.16 | $ 0.19 | $ 0.33 |
Net asset value, end of period | $ 8.27 | $ 8.12 | $ 8.51 | $ 10.03 | $ 9.87 | $ 9.68 |
Total return (b) | 3.39%(c)(d) | (2.49)% | (11.16)% | 5.63% | 4.38% | 6.10% |
Ratio of net expenses to average net assets | 1.45%(e) | 1.49% | 1.43% | 1.43% | 1.45% | 1.52% |
Ratio of net investment income (loss) to average net assets | 3.64%(e) | 3.09% | 1.36% | 1.65% | 1.96% | 2.21% |
Portfolio turnover rate | 38%(d) | 58% | 72% | 59% | 71% | 52% |
Net assets, end of period (in thousands) | $16,833 | $16,617 | $21,371 | $35,295 | $59,026 | $62,447 |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charges. Total return would be reduced if sales charges were taken into account. |
(c) | For the six months ended December 31, 2023, the Fund's total return includes a reimbursement by the Adviser (see Notes to the Financial Statements-Note 1.B). The impact on Class C's total return was less than 0.005%. |
(d) | Not annualized. |
(e) | Annualized. |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2389
Financial Highlights (continued)
| Six Months Ended 12/31/23 (unaudited) | Year Ended 6/30/23 | Year Ended 6/30/22 | Year Ended 6/30/21 | Year Ended 6/30/20 | Year Ended 6/30/19 |
Class K | | | | | | |
Net asset value, beginning of period | $ 8.21 | $ 8.60 | $ 10.13 | $ 9.98 | $ 9.78 | $ 9.45 |
Increase (decrease) from investment operations: | | | | | | |
Net investment income (loss) (a) | $ 0.19 | $ 0.35 | $ 0.24 | $ 0.28 | $ 0.30 | $ 0.32 |
Net realized and unrealized gain (loss) on investments | 0.13 | (0.47) | (1.21) | 0.37 | 0.24 | 0.35 |
Net increase (decrease) from investment operations | $ 0.32 | $ (0.12) | $ (0.97) | $ 0.65 | $ 0.54 | $ 0.67 |
Distributions to shareholders: | | | | | | |
Net investment income | $ (0.17) | $ (0.27) | $ (0.21) | $ (0.32) | $ (0.34) | $ (0.34) |
Net realized gain | — | — | (0.35) | (0.18) | — | — |
Total distributions | $ (0.17) | $ (0.27) | $ (0.56) | $ (0.50) | $ (0.34) | $ (0.34) |
Net increase (decrease) in net asset value | $ 0.15 | $ (0.39) | $ (1.53) | $ 0.15 | $ 0.20 | $ 0.33 |
Net asset value, end of period | $ 8.36 | $ 8.21 | $ 8.60 | $ 10.13 | $ 9.98 | $ 9.78 |
Total return (b) | 3.97%(c)(d) | (1.34)% | (10.12)% | 6.66% | 5.65% | 7.28% |
Ratio of net expenses to average net assets | 0.36%(e) | 0.36% | 0.33% | 0.34% | 0.34% | 0.37% |
Ratio of net investment income (loss) to average net assets | 4.73%(e) | 4.25% | 2.46% | 2.73% | 3.08% | 3.37% |
Portfolio turnover rate | 38%(d) | 58% | 72%(f) | 59% | 71% | 52% |
Net assets, end of period (in thousands) | $1,488,636 | $1,487,534 | $1,540,983 | $1,983,399 | $1,918,556 | $1,273,821 |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions and the complete redemption of the investment at net asset value at the end of each period. |
(c) | For the six months ended December 31, 2023, the Fund's total return includes a reimbursement by the Adviser (see Notes to the Financial Statements-Note 1.B). The impact on Class K's total return was less than 0.005%. |
(d) | Not annualized. |
(e) | Annualized. |
(f) | Portfolio turnover excludes the value of portfolio securities received or delivered as a result of in-kind fund share transactions. |
The accompanying notes are an integral part of these financial statements.
90Pioneer Bond Fund | Semiannual Report | 12/31/23
| Six Months Ended 12/31/23 (unaudited) | Year Ended 6/30/23 | Year Ended 6/30/22 | Year Ended 6/30/21 | Year Ended 6/30/20 | Year Ended 6/30/19 |
Class R | | | | | | |
Net asset value, beginning of period | $ 8.29 | $ 8.68 | $ 10.23 | $ 10.07 | $ 9.88 | $ 9.54 |
Increase (decrease) from investment operations: | | | | | | |
Net investment income (loss) (a) | $ 0.16 | $ 0.29 | $ 0.17 | $ 0.20 | $ 0.23 | $ 0.25 |
Net realized and unrealized gain (loss) on investments | 0.14 | (0.47) | (1.23) | 0.39 | 0.23 | 0.37 |
Net increase (decrease) from investment operations | $ 0.30 | $ (0.18) | $ (1.06) | $ 0.59 | $ 0.46 | $ 0.62 |
Distributions to shareholders: | | | | | | |
Net investment income | $ (0.14) | $ (0.21) | $ (0.14) | $ (0.25) | $ (0.27) | $ (0.28) |
Net realized gain | — | — | (0.35) | (0.18) | — | — |
Total distributions | $ (0.14) | $ (0.21) | $ (0.49) | $ (0.43) | $ (0.27) | $ (0.28) |
Net increase (decrease) in net asset value | $ 0.16 | $ (0.39) | $ (1.55) | $ 0.16 | $ 0.19 | $ 0.34 |
Net asset value, end of period | $ 8.45 | $ 8.29 | $ 8.68 | $ 10.23 | $ 10.07 | $ 9.88 |
Total return (b) | 3.67%(c)(d) | (2.05)% | (10.88)% | 5.97% | 4.76% | 6.62% |
Ratio of net expenses to average net assets | 1.12%(e) | 1.11% | 1.07% | 1.08% | 1.08% | 1.10% |
Ratio of net investment income (loss) to average net assets | 3.97%(e) | 3.50% | 1.73% | 1.99% | 2.33% | 2.64% |
Portfolio turnover rate | 38%(d) | 58% | 72% | 59% | 71% | 52% |
Net assets, end of period (in thousands) | $158,393 | $161,550 | $172,125 | $212,127 | $191,311 | $198,457 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: | | | | | | |
Total expenses to average net assets | 1.12%(e) | 1.11% | 1.07% | 1.08% | 1.08% | 1.12% |
Net investment income (loss) to average net assets | 3.97%(e) | 3.50% | 1.73% | 1.99% | 2.33% | 2.62% |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions and the complete redemption of the investment at net asset value at the end of each period. |
(c) | For the six months ended December 31, 2023, the Fund's total return includes a reimbursement by the Adviser (see Notes to the Financial Statements-Note 1.B). The impact on Class R's total return was less than 0.005%. |
(d) | Not annualized. |
(e) | Annualized. |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Semiannual Report | 12/31/2391
Financial Highlights (continued)
| Six Months Ended 12/31/23 (unaudited) | Year Ended 6/30/23 | Year Ended 6/30/22 | Year Ended 6/30/21 | Year Ended 6/30/20 | Year Ended 6/30/19 |
Class Y | | | | | | |
Net asset value, beginning of period | $ 8.13 | $ 8.51 | $ 10.04 | $ 9.89 | $ 9.70 | $ 9.36 |
Increase (decrease) from investment operations: | | | | | | |
Net investment income (loss) (a) | $ 0.18 | $ 0.34 | $ 0.22 | $ 0.26 | $ 0.29 | $ 0.31 |
Net realized and unrealized gain (loss) on investments | 0.14 | (0.46) | (1.20) | 0.38 | 0.23 | 0.36 |
Net increase (decrease) from investment operations | $ 0.32 | $ (0.12) | $ (0.98) | $ 0.64 | $ 0.52 | $ 0.67 |
Distributions to shareholders: | | | | | | |
Net investment income | $ (0.16) | $ (0.26) | $ (0.20) | $ (0.31) | $ (0.33) | $ (0.33) |
Net realized gain | — | — | (0.35) | (0.18) | — | — |
Total distributions | $ (0.16) | $ (0.26) | $ (0.55) | $ (0.49) | $ (0.33) | $ (0.33) |
Net increase (decrease) in net asset value | $ 0.16 | $ (0.38) | $ (1.53) | $ 0.15 | $ 0.19 | $ 0.34 |
Net asset value, end of period | $ 8.29 | $ 8.13 | $ 8.51 | $ 10.04 | $ 9.89 | $ 9.70 |
Total return (b) | 4.06%(c)(d) | (1.39)% | (10.34)% | 6.58% | 5.44% | 7.30% |
Ratio of net expenses to average net assets | 0.47%(e) | 0.47% | 0.44% | 0.45% | 0.45% | 0.49% |
Ratio of net investment income (loss) to average net assets | 4.62%(e) | 4.13% | 2.36% | 2.62% | 2.96% | 3.26% |
Portfolio turnover rate | 38%(d) | 58% | 72%(f) | 59% | 71% | 52% |
Net assets, end of period (in thousands) | $2,315,666 | $2,267,796 | $2,230,576 | $2,795,466 | $2,847,487 | $3,053,763 |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions and the complete redemption of the investment at net asset value at the end of each period. |
(c) | For the six months ended December 31, 2023, the Fund's total return includes a reimbursement by the Adviser (see Notes to the Financial Statements-Note 1.B). The impact on Class Y's total return was less than 0.005%. |
(d) | Not annualized. |
(e) | Annualized. |
(f) | Portfolio turnover excludes the value of portfolio securities received or delivered as a result of in-kind fund share transactions. |
The accompanying notes are an integral part of these financial statements.
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Notes to Financial Statements | 12/31/23
(unaudited)
1. Organization and Significant Accounting Policies
Pioneer Bond Fund (the “Fund”) is a Delaware statutory trust. The Fund is registered under the Investment Company Act of 1940, as amended (the "1940 Act") as a diversified, open-end management investment company. The investment objective of the Fund is to seek current income and total return.
The Fund offers five classes of shares designated as Class A, Class C, Class K, Class R and Class Y shares. Each class of shares represents an interest in the same portfolio of investments of the Fund and has identical rights (based on relative net asset values) to assets and liquidation proceeds. Share classes can bear different rates of class-specific fees and expenses, such as transfer agent and distribution fees. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different dividends from net investment income earned by each class. The Amended and Restated Declaration of Trust of the Fund gives the Board of Trustees the flexibility to specify either per-share voting or dollar-weighted voting when submitting matters for shareholder approval. Under per-share voting, each share of a class of the Fund is entitled to one vote. Under dollar-weighted voting, a shareholder’s voting power is determined not by the number of shares owned, but by the dollar value of the shares on the record date. Each share class has exclusive voting rights with respect to matters affecting only that class, including with respect to the distribution plan for that class. There is no distribution plan for Class K or Class Y shares.
Amundi Asset Management US, Inc., an indirect, wholly owned subsidiary of Amundi and Amundi’s wholly owned subsidiary, Amundi USA, Inc., serves as the Fund’s investment adviser (the “Adviser”). Amundi Distributor US, Inc., an affiliate of the Adviser, serves as the Fund’s distributor (the “Distributor”).
The Fund is required to comply with Rule 18f-4 under the 1940 Act, which governs the use of derivatives by registered investment companies. Rule 18f-4 permits funds to enter into derivatives transactions (as defined in Rule 18f-4) and certain other transactions notwithstanding the restrictions on the issuance of “senior securities” under Section 18 of the 1940 Act. In accordance with Rule 18f-4, the Fund has established and maintains a comprehensive derivatives risk management program, has
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appointed a derivatives risk manager and complies with a relative or absolute limit on fund leverage risk calculated based on value-at-risk ("VaR").
The Fund is an investment company and follows investment company accounting and reporting guidance under U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). U.S. GAAP requires the management of the Fund to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income, expenses and gain or loss on investments during the reporting period. Actual results could differ from those estimates.
The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements:
A. | Security Valuation |
| The net asset value of the Fund is computed once daily, on each day the New York Stock Exchange (“NYSE”) is open, as of the close of regular trading on the NYSE. |
| Fixed-income securities are valued by using prices supplied by independent pricing services, which consider such factors as market prices, market events, quotations from one or more brokers, Treasury spreads, yields, maturities and ratings, or may use a pricing matrix or other fair value methods or techniques to provide an estimated value of the security or instrument. A pricing matrix is a means of valuing a debt security on the basis of current market prices for other debt securities, historical trading patterns in the market for fixed-income securities and/or other factors. Non-U.S. debt securities that are listed on an exchange will be valued at the bid price obtained from an independent third party pricing service. When independent third party pricing services are unable to supply prices, or when prices or market quotations are considered to be unreliable, the value of that security may be determined using quotations from one or more broker-dealers. |
| Loan interests are valued at the mean between the last available bid and asked prices from one or more brokers or dealers as obtained from Loan Pricing Corporation, an independent third party pricing service. If price information is not available from Loan Pricing Corporation, or if the price information is deemed to be unreliable, price information will be obtained from an alternative loan interest pricing service. If no reliable price quotes are available from either the primary or alternative pricing service, broker quotes will be solicited. |
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| Event-linked bonds are valued at the bid price obtained from an independent third party pricing service. Other insurance-linked securities (including reinsurance sidecars, collateralized reinsurance and industry loss warranties) may be valued at the bid price obtained from an independent pricing service, or through a third party using a pricing matrix, insurance valuation models, or other fair value methods or techniques to provide an estimated value of the instrument. |
| Equity securities that have traded on an exchange are valued by using the last sale price on the principal exchange where they are traded. Equity securities that have not traded on the date of valuation, or securities for which sale prices are not available, generally are valued using the mean between the last bid and asked prices or, if both last bid and asked prices are not available, at the last quoted bid price. Last sale and bid and asked prices are provided by independent third party pricing services. In the case of equity securities not traded on an exchange, prices are typically determined by independent third party pricing services using a variety of techniques and methods. |
| The value of foreign securities is translated into U.S. dollars based on foreign currency exchange rate quotations supplied by a third party pricing source. Trading in non-U.S. equity securities is substantially completed each day at various times prior to the close of the NYSE. The values of such securities used in computing the net asset value of the Fund's shares are determined as of such times. The Adviser may use a fair value model developed by an independent pricing service to value non-U.S. equity securities. |
| Futures contracts are generally valued at the closing settlement price established by the exchange on which they are traded. |
| Swap contracts, including interest rate swaps, caps and floors (other than centrally cleared swap contracts), are valued at the dealer quotations obtained from reputable International Swap Dealers Association members. Centrally cleared swaps are valued at the daily settlement price provided by the central clearing counterparty. |
| Repurchase agreements are valued at par. Cash may include overnight time deposits at approved financial institutions. |
| Shares of open-end registered investment companies (including money market mutual funds) are valued at such funds’ net asset value. |
| Securities or loan interests for which independent pricing services or broker-dealers are unable to supply prices or for which market prices and/or quotations are not readily available or are considered to be unreliable are valued by a fair valuation team comprised of certain |
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| personnel of the Adviser. The Adviser is designated as the valuation designee for the Fund pursuant to Rule 2a-5 under the 1940 Act. The Adviser’s fair valuation team is responsible for monitoring developments that may impact fair valued securities. |
| Inputs used when applying fair value methods to value a security may include credit ratings, the financial condition of the company, current market conditions and comparable securities. The Adviser may use fair value methods if it is determined that a significant event has occurred after the close of the exchange or market on which the security trades and prior to the determination of the Fund's net asset value. Examples of a significant event might include political or economic news, corporate restructurings, natural disasters, terrorist activity or trading halts. Thus, the valuation of the Fund's securities may differ significantly from exchange prices, and such differences could be material. |
B. | Investment Income and Transactions |
| Dividend income is recorded on the ex-dividend date, except that certain dividends from foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund becomes aware of the ex-dividend data in the exercise of reasonable diligence. |
| Interest income, including interest on income-bearing cash accounts, is recorded on the accrual basis. Dividend and interest income are reported net of unrecoverable foreign taxes withheld at the applicable country rates and net of income accrued on defaulted securities. |
| Interest and dividend income payable by delivery of additional shares is reclassified as PIK (payment-in-kind) income upon receipt and is included in interest and dividend income, respectively. |
| Principal amounts of mortgage-backed securities are adjusted for monthly paydowns. Premiums and discounts related to certain mortgage-backed securities are amortized or accreted in proportion to the monthly paydowns. All discounts/premiums on purchase prices of debt securities are accreted/amortized for financial reporting purposes over the life of the respective securities, and such accretion/amortization is included in interest income. |
| Security transactions are recorded as of trade date. Gains and losses on sales of investments are calculated on the identified cost method for both financial reporting and federal income tax purposes. |
| During the fiscal year ended December 31, 2023, the Fund realized a loss of $25,163 due to an operational error. The Adviser voluntarily |
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| reimbursed the Fund for this loss, which is reflected on the Statement of Operations as Reimbursement by the Adviser. |
C. | Foreign Currency Translation |
| The books and records of the Fund are maintained in U.S. dollars. Amounts denominated in foreign currencies are translated into U.S. dollars using current exchange rates. |
| Net realized gains and losses on foreign currency transactions, if any, represent, among other things, the net realized gains and losses on foreign currency exchange contracts, disposition of foreign currencies and the difference between the amount of income accrued and the U.S. dollars actually received. Further, the effects of changes in foreign currency exchange rates on investments are not segregated on the Statement of Operations from the effects of changes in the market prices of those securities, but are included with the net realized and unrealized gain or loss on investments. |
D. | Federal Income Taxes |
| It is the Fund's policy to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its net taxable income and net realized capital gains, if any, to its shareholders. Therefore, no provision for federal income taxes is required. As of December 31, 2023, the Fund did not accrue any interest or penalties with respect to uncertain tax positions, which, if applicable, would be recorded as an income tax expense on the Statement of Operations. Tax returns filed within the prior three years remain subject to examination by federal and state tax authorities. |
| The amount and character of income and capital gain distributions to shareholders are determined in accordance with federal income tax rules, which may differ from U.S. GAAP. Distributions in excess of net investment income or net realized gains are temporary over distributions for financial statement purposes resulting from differences in the recognition or classification of income or distributions for financial statement and tax purposes. Capital accounts within the financial statements are adjusted for permanent book/tax differences to reflect tax character, but are not adjusted for temporary differences. |
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| The tax character of current year distributions payable will be determined at the end of the current taxable year. The tax character of distributions paid during the year ended June 30, 2023 was as follows: |
| 2023 |
Distributions paid from: | |
Ordinary income | $136,139,918 |
Total | $136,139,918 |
The following shows the components of distributable earnings (losses) on a federal income tax basis at June 30, 2023:
| 2023 |
Distributable earnings/(losses): | |
Undistributed ordinary income | $ 7,050,141 |
Capital loss carryforward | (437,761,293) |
Other book/tax temporary differences | (1,626,405) |
Net unrealized depreciation | (380,764,558) |
Total | $(813,102,115) |
The difference between book basis and tax basis unrealized depreciation is primarily attributable to the mark to market on futures contracts and credit default swaps, the tax deferral of losses on wash sales, realization for tax purposes of unrealized gains on investments in passive foreign investment companies and the book/tax differences in the adjustments relating to insurance-linked securities, and premium and amortization.
E. | Fund Shares |
| The Fund records sales and repurchases of its shares as of trade date. The Distributor earned $7,796 in underwriting commissions on the sale of Class A shares during the six months ended December 31, 2023. |
F. | Class Allocations |
| Income, common expenses and realized and unrealized gains and losses are calculated at the Fund level and allocated daily to each class of shares based on its respective percentage of adjusted net assets at the beginning of the day. |
| Distribution fees are calculated based on the average daily net asset value attributable to Class A, Class C and Class R shares of the Fund, respectively (see Note 5). Class K and Class Y shares do not pay distribution fees. All expenses and fees paid to the Fund's transfer agent for its services are allocated among the classes of shares based on the number of accounts in each class and the ratable allocation of related out-of-pocket expenses (see Note 4). |
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| The Fund declares as daily dividends substantially all of its net investment income. All dividends are paid on a monthly basis. Short-term capital gain distributions, if any, may be declared with the daily dividends. Distributions to shareholders are recorded as of the ex-dividend date. Distributions paid by the Fund with respect to each class of shares are calculated in the same manner and at the same time, except that net investment income dividends to Class A, Class C and Class Y shares can reflect different transfer agent and distribution expense rates. |
G. | Risks |
| The value of securities held by the Fund may go up or down, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic, political or regulatory conditions, recessions, the spread of infectious illness or other public health issues, inflation, changes in interest rates, armed conflict such as between Russia and Ukraine or in the Middle East, sanctions against Russia, other nations or individuals or companies and possible countermeasures, lack of liquidity in the bond markets or adverse investor sentiment. In the past several years, financial markets have experienced increased volatility, depressed valuations, decreased liquidity and heightened uncertainty. These conditions may continue, recur, worsen or spread. Inflation and interest rates have increased and may rise further. These circumstances could adversely affect the value and liquidity of the Fund's investments and negatively impact the Fund's performance. |
| The long-term impact of the COVID-19 pandemic and its subsequent variants on economies, markets, industries and individual issuers, are not known. Some sectors of the economy and individual issuers have experienced or may experience particularly large losses. Periods of extreme volatility in the financial markets, reduced liquidity of many instruments, increased government debt, inflation, and disruptions to supply chains, consumer demand and employee availability, may continue for some time. Following Russia's invasion of Ukraine, Russian securities lost all, or nearly all, their market value. Other securities or markets could be similarly affected by past or future political, geopolitical or other events or conditions. |
| Governments and central banks, including the U.S. Federal Reserve, have taken extraordinary and unprecedented actions to support local and global economies and the financial markets. These actions have resulted in significant expansion of public debt, including in the U.S. The consequences of high public debt, including its future impact on the economy and securities markets, may not be known for some time. |
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| The U.S. and other countries are periodically involved in disputes over trade and other matters, which may result in tariffs, investment restrictions and adverse impacts on affected companies and securities. For example, the U.S. has imposed tariffs and other trade barriers on Chinese exports, has restricted sales of certain categories of goods to China, and has established barriers to investments in China. Trade disputes may adversely affect the economies of the U.S. and its trading partners, as well as companies directly or indirectly affected and financial markets generally. If the political climate between the U.S. and China does not improve or continues to deteriorate, if China were to attempt unification of Taiwan by force, or if other geopolitical conflicts develop or get worse, economies, markets and individual securities may be severely affected both regionally and globally, and the value of the Fund's assets may go down. |
| At times, the Fund’s investments may represent industries or industry sectors that are interrelated or have common risks, making the Fund more susceptible to any economic, political, or regulatory developments or other risks affecting those industries and sectors. |
| The Fund’s investments in foreign markets and countries with limited developing markets may subject the Fund to a greater degree of risk than investments in a developed market. These risks include disruptive political or economic conditions, military conflicts and sanctions, terrorism, sustained economic downturns, financial instability, less liquid trading markets, extreme price volatility, currency risks, reduction of government or central bank support, inadequate accounting standards, tariffs, tax disputes or other tax burdens, nationalization or expropriation of assets and the imposition of adverse governmental laws, arbitrary application of laws and regulations or lack of rule of law and investment and repatriation restrictions. Lack of information and less market regulation also may affect the value of these securities. Withholding and other non-U.S. taxes may decrease the Fund’s return. Non-U.S. issuers may be located in parts of the world that have historically been prone to natural disasters. Investing in depositary receipts is subject to many of the same risks as investing directly in non-U.S. issuers. Depositary receipts may involve higher expenses and may trade at a discount (or premium) to the underlying security. |
| Russia launched a large-scale invasion of Ukraine on February 24, 2022. In response to the military action by Russia, various countries, including the U.S., the United Kingdom, and European Union issued broad-ranging economic sanctions against Russia and Belarus and certain companies and individuals. Since then, Russian securities have lost all, or nearly all, their market value, and many other issuers, securities and markets |
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| have been adversely affected. The United States and other countries may impose sanctions on other countries, companies and individuals in light of Russia’s military invasion. The extent and duration of the military action or future escalation of such hostilities, the extent and impact of existing and future sanctions, market disruptions and volatility, and the result of any diplomatic negotiations cannot be predicted. These and any related events could have a significant impact on the value and liquidity of certain Fund investments, on Fund performance and the value of an investment in the Fund, particularly with respect to securities and commodities, such as oil, natural gas and food commodities, as well as other sectors with exposure to Russian issuers or issuers in other countries affected by the invasion, and are likely to have collateral impacts on market sectors globally. |
| The Fund may invest in REIT securities, the value of which can fall for a variety of reasons, such as declines in rental income, fluctuating interest rates, poor property management, environmental liabilities, uninsured damage, increased competition, or changes in real estate tax laws. |
| Normally, the Fund invests at least 80% of its net assets in debt securities issued or guaranteed by the U.S. government, its agencies and instrumentalities, investment grade debt securities (including convertible debt) of corporate or other issuers and cash, cash equivalents and other short-term holdings. |
| The market prices of the Fund's fixed income securities may fluctuate significantly when interest rates change. The value of your investment will generally go down when interest rates rise. A rise in rates tends to have a greater impact on the prices of longer term or duration securities. For example, if interest rates increase by 1%, the value of a Fund's portfolio with a portfolio duration of ten years would be expected to decrease by 10%, all other things being equal. In recent years interest rates and credit spreads in the U.S. have been at historic lows. The U.S. Federal Reserve has raised certain interest rates, and interest rates may continue to go up. A general rise in interest rates could adversely affect the price and liquidity of fixed income securities. The maturity of a security may be significantly longer than its effective duration. A security's maturity and other features may be more relevant than its effective duration in determining the security's sensitivity to other factors affecting the issuer or markets generally, such as changes in credit quality or in the yield premium that the market may establish for certain types of securities (sometimes called "credit spread"). In general, the longer its maturity the more a security may be susceptible to these factors. When the credit spread for a fixed income security goes up, or "widens," the value of the security will generally go down. |
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| If an issuer or guarantor of a security held by the Fund or a counterparty to a financial contract with the Fund defaults on its obligation to pay principal and/or interest, has its credit rating downgraded or is perceived to be less creditworthy, or the credit quality or value of any underlying assets declines, the value of your investment will typically decline. Changes in actual or perceived creditworthiness may occur quickly. The Fund could be delayed or hindered in its enforcement of rights against an issuer, guarantor or counterparty. |
| The Fund may invest up to 20% of its net assets in below investment grade (high-yield) debt securities. Some of these high-yield securities may be convertible into equity securities of the issuer. Debt securities rated below investment-grade are commonly referred to as “junk bonds” and are considered speculative with respect to the issuer’s capacity to pay interest and repay principal. These securities involve greater risk of loss, are subject to greater price volatility, and may be less liquid and more difficult to value, especially during periods of economic uncertainty or change, than higher rated debt securities. |
| The Fund may invest in mortgage-related and asset-backed securities. The value of mortgage-related and asset-backed securities will be influenced by factors affecting the assets underlying such securities. As a result, during periods of declining asset value, difficult or frozen credit markets, swings in interest rates, or deteriorating economic conditions, mortgage-related and asset-backed securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. Mortgage-backed securities tend to be more sensitive to changes in interest rate than other types of debt securities. These securities are also subject to prepayment and extension risks. Some of these securities may receive little or no collateral protection from the underlying assets and are thus subject to the risk of default. The risk of such defaults is generally higher in the case of mortgage-backed investments offered by non-governmental issuers and those that include so-called “sub-prime” mortgages. The structure of some of these securities may be complex and there may be less available information than for other types of debt securities. Upon the occurrence of certain triggering events or defaults, the Fund may become the holder of underlying assets at a time when those assets may be difficult to sell or may be sold only at a loss. |
| The Fund may invest in credit risk transfer securities. Credit risk transfer securities are unguaranteed and unsecured debt securities issued by government sponsored enterprises and therefore are not directly linked to or backed by the underlying mortgage loans. As a result, in the event that a government sponsored enterprise fails to pay principal or interest on its credit risk transfer securities or goes through a bankruptcy, |
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| insolvency or similar proceeding, holders of such credit risk transfer securities have no direct recourse to the underlying mortgage loans and will generally receive recovery on par with other unsecured note holders in such a scenario. The risks associated with an investment in credit risk transfer securities are different than the risks associated with an investment in mortgage-backed securities issued by Fannie Mae and Freddie Mac, or other government sponsored enterprise or issued by a private issuer, because some or all of the mortgage default or credit risk associated with the underlying mortgage loans is transferred to investors. As a result, investors in these securities could lose some or all of their investment in these securities if the underlying mortgage loans default. |
| The Fund's investments, payment obligations and financing terms may be based on floating rates, such as LIBOR (London Interbank Offered Rate) or SOFR (Secured Overnight Financing Rate). ICE Benchmark Administration, the administrator of LIBOR, has ceased publication of most LIBOR settings on a representative basis. Actions by regulators have resulted in the establishment of alternative reference rates to LIBOR in most major currencies. In the U.S., a common benchmark replacement is based on the SOFR published by the Federal Reserve Bank of New York, including certain spread adjustments and benchmark replacement conforming changes, although other benchmark replacements (without or without spread adjustments) may be used in certain transactions. The impact of the transition from LIBOR on the Fund's transactions and financial markets generally cannot yet be determined. The transition away from LIBOR may lead to increased volatility and illiquidity in markets for instruments that have relied on LIBOR and may adversely affect the Fund's performance. |
| With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security and related risks. While the Fund’s Adviser has established business continuity plans in the event of, and risk management systems to prevent, limit or mitigate, such cyber-attacks, there are inherent limitations in such plans and systems, including the possibility that certain risks have not been identified. Furthermore, the Fund cannot control the cybersecurity plans and systems put in place by service providers to the Fund such as the Fund's custodian and accounting agent, and the Fund’s transfer agent. In addition, many beneficial owners of Fund shares hold them through accounts at broker-dealers, retirement platforms and other financial market participants over which neither the Fund nor the Adviser exercises control. Each of these may in turn rely on service providers to them, which are also subject to the risk |
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| of cyber-attacks. Cybersecurity failures or breaches at the Adviser or the Fund’s service providers or intermediaries have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its net asset value, impediments to trading, the inability of Fund shareholders to effect share purchases, redemptions or exchanges or receive distributions, loss of or unauthorized access to private shareholder information and violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, or additional compliance costs. Such costs and losses may not be covered under any insurance. In addition, maintaining vigilance against cyber-attacks may involve substantial costs over time, and system enhancements may themselves be subject to cyber-attacks. |
| The Fund’s prospectus contains unaudited information regarding the Fund’s principal risks. Please refer to that document when considering the Fund’s principal risks. |
H. | Restricted Securities |
| Restricted Securities are subject to legal or contractual restrictions on resale. Restricted securities generally are resold in transactions exempt from registration under the Securities Act of 1933. Private placement securities are generally considered to be restricted except for those securities traded between qualified institutional investors under the provisions of Rule 144A of the Securities Act of 1933. |
| Disposal of restricted investments may involve negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Restricted investments held by the Fund at December 31, 2023 are listed in the Schedule of Investments. |
I. | Insurance-Linked Securities (“ILS”) |
| The Fund invests in ILS. The Fund could lose a portion or all of the principal it has invested in an ILS, and the right to additional interest or dividend payments with respect to the security, upon the occurrence of one or more trigger events, as defined within the terms of an insurance-linked security. Trigger events, generally, are hurricanes, earthquakes, or other natural events of a specific size or magnitude that occur in a designated geographic region during a specified time period, and/or that involve losses or other metrics that exceed a specific amount. There is no way to accurately predict whether a trigger event will occur, and accordingly, ILS carry significant risk. The Fund is entitled to receive principal, and interest and/or dividend payments so long as no trigger event occurs of the description and magnitude specified by the |
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| instrument. In addition to the specified trigger events, ILS may expose the Fund to other risks, including but not limited to issuer (credit) default, adverse regulatory or jurisdictional interpretations and adverse tax consequences. |
| The Fund’s investments in ILS may include event-linked bonds. ILS also may include special purpose vehicles (“SPVs”) or similar instruments structured to comprise a portion of a reinsurer’s catastrophe-oriented business, known as quota share instruments (sometimes referred to as reinsurance sidecars), or to provide reinsurance relating to specific risks to insurance or reinsurance companies through a collateralized instrument, known as collateralized reinsurance. Structured reinsurance investments also may include industry loss warranties (“ILWs”). A traditional ILW takes the form of a bilateral reinsurance contract, but there are also products that take the form of derivatives, collateralized structures, or exchange-traded instruments. |
J. | Repurchase Agreements |
| Repurchase agreements are arrangements under which the Fund purchases securities from a broker-dealer or a bank, called the counterparty, upon the agreement of the counterparty to repurchase the securities from the Fund at a later date, and at a specific price, which is typically higher than the purchase price paid by the Fund. The securities purchased serve as the Fund's collateral for the obligation of the counterparty to repurchase the securities. The value of the collateral, including accrued interest, is required to be equal to or in excess of the repurchase price. The collateral for all repurchase agreements is held in safekeeping in the customer-only account of the Fund's custodian or a sub-custodian of the Fund. The Adviser is responsible for determining that the value of the collateral remains at least equal to the repurchase price. In the event of a default by the counterparty, the Fund is entitled to sell the securities, but the Fund may not be able to sell them for the price at which they were purchased, thus causing a loss to the Fund. Additionally, if the counterparty becomes insolvent, there is some risk that the Fund will not have a right to the securities, or the immediate right to sell the securities. |
| Open repurchase agreements at December 31, 2023 are disclosed in the Schedule of Investments. |
K. | TBA Purchase and Sale Commitments |
| The Fund may enter into to-be-announced (TBA) purchase or sale commitments (collectively, TBA transactions), pursuant to which it agrees to purchase or sell, respectively, mortgage-backed securities for a |
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| fixed unit price, with payment and delivery at a scheduled future date beyond the customary settlement period for such securities. With TBA transactions, the particular securities to be received or delivered by the Fund are not identified at the trade date; however, the securities must meet specified terms, including issuer, rate, and mortgage term, and be within industry-accepted “good delivery” standards. The Fund may enter into TBA transactions with the intention of taking possession of or relinquishing the underlying securities, may elect to extend the settlement by “rolling” the transaction, and/or may use TBA transactions to gain or reduce interim exposure to underlying securities. Until settlement, the Fund maintains liquid assets sufficient to settle its commitment to purchase a TBA or, in the case of a sale commitment, the Fund maintains an entitlement to the security to be sold. |
| To mitigate counterparty risk, the Fund has entered into agreements with TBA counterparties that provide for collateral and the right to offset amounts due to or from those counterparties under specified conditions. Subject to minimum transfer amounts, collateral requirements are determined and transfers made based on the net aggregate unrealized gain or loss on all TBA commitments with a particular counterparty. At any time, the Fund’s risk of loss from a particular counterparty related to its TBA commitments is the aggregate unrealized gain on appreciated TBAs in excess of unrealized loss on depreciated TBAs and collateral received, if any, from such counterparty. As of December 31, 2023, no collateral was pledged by the Fund. Collateral received from counterparties totaled $4,152,234 for TBAs. |
L. | Futures Contracts |
| The Fund may enter into futures transactions in order to attempt to hedge against changes in interest rates, securities prices and currency exchange rates or to seek to increase total return. Futures contracts are types of derivatives. |
| All futures contracts entered into by the Fund are traded on a futures exchange. Upon entering into a futures contract, the Fund is required to deposit with a broker an amount of cash or securities equal to the minimum "initial margin" requirements of the associated futures exchange. The amount of cash deposited with the broker as collateral at December 31, 2023 is recorded as "Futures collateral" on the Statement of Assets and Liabilities. |
| Subsequent payments for futures contracts ("variation margin") are paid or received by the Fund, depending on the daily fluctuation in the value of the contracts, and are recorded by the Fund as unrealized appreciation |
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| or depreciation. Cash received from or paid to the broker related to previous margin movement is held in a segregated account at the broker and is recorded as either "Due from broker for futures" or "Due to broker for futures" on the Statement of Assets and Liabilities. When the contract is closed, the Fund realizes a gain or loss equal to the difference between the opening and closing value of the contract as well as any fluctuation in foreign currency exchange rates where applicable. Futures contracts are subject to market risk, interest rate risk and currency exchange rate risk. Changes in value of the contracts may not directly correlate to the changes in value of the underlying securities. With futures, there is reduced counterparty credit risk to the Fund since futures are exchange-traded and the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. |
| The average notional values of futures contracts long position and futures contracts short position during the six months ended December 31, 2023 were $1,341,285,457 and $73,089,028, respectively. Open futures contracts outstanding at December 31, 2023 are listed in the Schedule of Investments. |
M. | Credit Default Swap Contracts |
| A credit default swap is a contract between a buyer of protection and a seller of protection against a pre-defined credit event or an underlying reference obligation, which may be a single security or a basket or index of securities. The Fund may buy or sell credit default swap contracts to seek to increase the Fund's income, or to attempt to hedge the risk of default on portfolio securities. A credit default swap index is used to hedge risk or take a position on a basket of credit entities or indices. |
| As a seller of protection, the Fund would be required to pay the notional (or other agreed-upon) value of the referenced debt obligation to the counterparty in the event of a default by a U.S. or foreign corporate issuer of a debt obligation, which would likely result in a loss to the Fund. In return, the Fund would receive from the counterparty a periodic stream of payments during the term of the contract, provided that no event of default occurred. The maximum exposure of loss to the seller would be the notional value of the credit default swaps outstanding. If no default occurs, the Fund would keep the stream of payments and would have no payment obligation. The Fund may also buy credit default swap contracts in order to hedge against the risk of default of debt securities, in which case the Fund would function as the counterparty referenced above. |
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| As a buyer of protection, the Fund makes an upfront or periodic payment to the protection seller in exchange for the right to receive a contingent payment. An upfront payment made by the Fund, as the protection buyer, is recorded within the "Swap contracts, at value" line item on the Statement of Assets and Liabilities. Periodic payments received or paid by the Fund are recorded as realized gains or losses on the Statement of Operations. |
| Credit default swap contracts are marked-to-market daily using valuations supplied by independent sources, and the change in value, if any, is recorded within the "Swap contracts, at value" line item on the Statement of Assets and Liabilities. Payments received or made as a result of a credit event or upon termination of the contract are recognized, net of the appropriate amount of the upfront payment, as realized gains or losses on the Statement of Operations. |
| Credit default swap contracts involving the sale of protection may involve greater risks than if the Fund had invested in the referenced debt instrument directly. Credit default swap contracts are subject to general market risk, liquidity risk, counterparty risk and credit risk. If the Fund is a protection buyer and no credit event occurs, it will lose its investment. If the Fund is a protection seller and a credit event occurs, the value of the referenced debt instrument received by the Fund, together with the periodic payments received, may be less than the amount the Fund pays to the protection buyer, resulting in a loss to the Fund. In addition, obligations under sell protection credit default swaps may be partially offset by net amounts received from settlement of buy protection credit default swaps entered into by the Fund for the same reference obligation with the same counterparty. |
| The Fund may invest in credit default swap index products ("CDX"). A CDX is a swap on an index of credit default swaps. CDXs allow an investor to manage credit risk or take a position on a basket of credit entities (such as credit default swaps or commercial mortgage-backed securities) in a more efficient manner than transacting in a single-name credit default swap. If a credit event occurs in one of the underlying companies, the protection is paid out via the delivery of the defaulted bond by the buyer of protection in return for a payment of notional value of the defaulted bond by the seller of protection or it may be settled through a cash settlement between the two parties. The underlying company is then removed from the index. If the Fund holds a long position in a CDX, the Fund would indirectly bear its proportionate share of any expenses paid by a CDX. A fund holding a long position in CDXs typically receives income from principal or interest paid on the underlying securities. By investing in CDXs, the Fund could be exposed |
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| to liquidity risk, counterparty risk, credit risk of the issuers of the underlying loan obligations and of the CDX markets, and operational risks. If there is a default by the CDX counterparty, the Fund will have contractual remedies pursuant to the agreements related to the transaction. CDXs also bear the risk that the Fund will not be able to meet its obligation to the counterparty. |
| Certain swap contracts that are cleared through a central clearinghouse are referred to as centrally cleared swaps. All payments made or received by the Fund are pursuant to a centrally cleared swap contract with the central clearing party rather than the original counterparty. Upon entering into a centrally cleared swap contract, the Fund is required to make an initial margin deposit, either in cash or in securities. The daily change in value on open centrally cleared contracts is recorded as "Variation margin for centrally cleared swap contracts" on the Statement of Assets and Liabilities. Cash received from or paid to the broker related to previous margin movement is held in a segregated account at the broker and is recorded as either "Due from broker for swaps" or "Due to broker for swaps" on the Statement of Assets and Liabilities. The amount of cash deposited with a broker as collateral at December 31, 2023 is recorded as "Swaps collateral" on the Statement of Assets and Liabilities. |
| The average notional value of credit default swap contracts buy protection open during the six months ended December 31, 2023 was $402,471,633. Open credit default swap contracts at December 31, 2023 are listed in the Schedule of Investments. |
2. Management Agreement
The Adviser manages the Fund’s portfolio. Management fees payable under the Fund’s Investment Management Agreement with the Adviser are calculated daily and paid monthly at the annual rate of 0.40% of the Fund’s average daily net assets up to $500 million, 0.35% of the next $500 million of the Fund’s average daily net assets, 0.30% of the next $1 billion of the Fund’s average daily net assets, 0.25% of the next $8 billion of the Fund’s average daily net assets, and 0.225% of the Fund’s average daily net assets over $10 billion. For the six months ended December 31, 2023, the effective management fee (excluding waivers and/or assumption of expenses) was equivalent to 0.29% (annualized) of the Fund’s average daily net assets.
In addition, under the management and administration agreements, certain other services and costs, including accounting, regulatory reporting and insurance premiums, are paid by the Fund as administrative
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reimbursements. Reflected on the Statement of Assets and Liabilities is $177,179 in management fees payable to the Adviser at December 31, 2023.
3. Compensation of Officers and Trustees
The Fund pays an annual fee to its Trustees. The Adviser reimburses the Fund for fees paid to the Interested Trustees. Except for the chief compliance officer, the Fund does not pay any salary or other compensation to its officers. The Fund pays a portion of the chief compliance officer's compensation for his services as the Fund's chief compliance officer. Amundi US pays the remaining portion of the chief compliance officer's compensation. For the six months ended December 31, 2023, the Fund paid $144,661 in Officers' and Trustees' compensation, which is reflected on the Statement of Operations as Officers' and Trustees' fees. At December 31, 2023, on its Statement of Assets and Liabilities, the Fund had a payable for Trustees' fees of $13,612 and a payable for administrative expenses of $178,864, which includes the payable for Officers' compensation.
4. Transfer Agent
BNY Mellon Investment Servicing (US) Inc. serves as the transfer agent to the Fund at negotiated rates. Transfer agent fees and payables shown on the Statement of Operations and the Statement of Assets and Liabilities, respectively, include sub-transfer agent expenses incurred through the Fund’s omnibus relationship contracts.
In addition, the Fund reimbursed the transfer agent for out-of-pocket expenses incurred by the transfer agent related to shareholder communications activities such as proxy and statement mailings, and outgoing phone calls. For the six months ended December 31, 2023, such out-of-pocket expenses by class of shares were as follows:
Shareholder Communications: | |
Class A | $22,349 |
Class C | 993 |
Class K | 36,543 |
Class R | 707 |
Class Y | 33,170 |
Total | $93,762 |
5. Distribution and Service Plans
The Fund has adopted a distribution plan (the “Plan”) pursuant to Rule 12b-1 under the 1940 Act with respect to its Class A, Class C and Class R shares. Pursuant to the Plan, the Fund pays the Distributor 0.25% of the Fund's average daily net assets attributable to Class A shares as compensation for personal services and/or account maintenance services or distribution services with regard to Class A shares. Pursuant to the Plan,
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the Fund also pays the Distributor 1.00% of the average daily net assets attributable to Class C shares. The fee for Class C shares consists of a 0.25% service fee and a 0.75% distribution fee paid as compensation for personal services and/or account maintenance services or distribution services with regard to Class C shares. Pursuant to the Plan, the Fund further pays the Distributor 0.50% of the average daily net assets attributable to Class R shares for distribution services. Reflected on the Statement of Assets and Liabilities is $30,972 in distribution fees payable to the Distributor at December 31, 2023.
The Fund also has adopted a separate service plan for Class R shares (the “Service Plan”). The Service Plan authorizes the Fund to pay securities dealers, plan administrators or other service organizations that agree to provide certain services to retirement plans or plan participants holding shares of the Fund a service fee of up to 0.25% of the Fund’s average daily net assets attributable to Class R shares held by such plans.
In addition, redemptions of Class A and Class C shares may be subject to a contingent deferred sales charge (“CDSC”). A CDSC of 1.00% may be imposed on redemptions of certain net asset value purchases of Class A shares within 12 months of purchase. Redemptions of Class C shares within 12 months of purchase are subject to a CDSC of 1.00% based on the lower of cost or market value of shares being redeemed. Shares purchased as part of an exchange remain subject to any CDSC that applied to the original purchase of those shares. There is no CDSC for Class K, Class R or Class Y shares. Proceeds from the CDSCs are paid to the Distributor. For the six months ended December 31, 2023, CDSCs in the amount of $2,530 were paid to the Distributor.
6. Line of Credit Facility
The Fund, along with certain other funds in the Pioneer Family of Funds, participates in a committed, unsecured revolving line of credit (“credit facility”). Borrowings are used solely for temporary or emergency purposes. The Fund may borrow up to the lesser of the amount available under the credit facility or the limits set for borrowing by the Fund’s prospectus and the 1940 Act. For the six months ended December 31, 2023, the Fund participated in a credit facility in the amount of $380 million. Under such credit facility, depending on the type of loan, interest on borrowings was payable at the Secured Overnight Financing Rate ("SOFR") plus a credit spread. The Fund also paid both an upfront fee and an annual commitment fee to participate in the credit facility. The upfront fee in the amount of 0.15% of the total credit facility and the commitment fee in the amount of 0.30% of the daily unused portion of each lender's commitment were allocated among participating funds based on an allocation schedule set
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forth in the credit facility. For the six months ended December 31, 2023, the Fund had no borrowings under the credit facility.
7. Additional Disclosures about Derivative Instruments and Hedging Activities
The Fund’s use of derivatives may enhance or mitigate the Fund’s exposure to the following risks:
Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates.
Credit risk relates to the ability of the issuer of a financial instrument to make further principal or interest payments on an obligation or commitment that it has to the Fund.
Foreign exchange rate risk relates to fluctuations in the value of an asset or liability due to changes in currency exchange rates.
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange rate risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
Commodity risk relates to the risk that the value of a commodity or commodity index will fluctuate based on increases or decreases in the commodities market and factors specific to a particular industry or commodity.
The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) by risk exposure at December 31, 2023, was as follows:
Statement of Assets and Liabilities | Interest Rate Risk | Credit Risk | Foreign Exchange Rate Risk | Equity Risk | Commodity Risk |
Assets | | | | | |
Net unrealized appreciation on futures contracts* | $23,737,274 | $ — | $ — | $ — | $ — |
Total Value | $23,737,274 | $ — | $— | $— | $— |
Liabilities | | | | | |
Centrally cleared swap contracts† | $ — | $19,117,418 | $ — | $ — | $ — |
Total Value | $ — | $19,117,418 | $— | $— | $— |
| |
* | Includes cumulative unrealized appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. Only net variation margin is reported within the assets and/or liabilities on the Statement of Assets and Liabilities. |
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† | Includes cumulative unrealized appreciation (depreciation) of centrally cleared swap contracts as reported in the Schedule of Investments. Only net variation margin is reported within the receivables and/or payables on the Statement of Assets and Liabilities. |
The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations by risk exposure at December 31, 2023 was as follows:
Statement of Operations | Interest Rate Risk | Credit Risk | Foreign Exchange Rate Risk | Equity Risk | Commodity Risk |
Net Realized Gain (Loss) on | | | | | |
Futures contracts | $ (44,951,722) | $ — | $ — | $ — | $ — |
Swap contracts | — | (8,794,292) | — | — | — |
Total Value | $(44,951,722) | $ (8,794,292) | $— | $— | $— |
Change in Net Unrealized Appreciation (Depreciation) on | | | | | |
Futures contracts | $ 37,149,374 | $ — | $ — | $ — | $ — |
Swap contracts | — | (12,160,671) | — | — | — |
Total Value | $ 37,149,374 | $(12,160,671) | $— | $— | $— |
8. Unfunded Loan Commitments
The Fund may enter into unfunded loan commitments. Unfunded loan commitments may be partially or wholly unfunded. During the contractual period, the Fund is obliged to provide funding to the borrower upon demand. A fee is earned by the Fund on the unfunded loan commitment and is recorded as interest income on the Statement of Operations. Unfunded loan commitments are fair valued in accordance with the valuation policy described in Note 1A and unrealized appreciation or depreciation, if any, is recorded on the Statement of Assets and Liabilities.
As of December 31, 2023, the Fund had the following unfunded loan commitment outstanding:
Loan | Principal | Cost | Value | Unrealized Appreciation (Depreciation) |
CSG Elevate II, Inc., Bridge Term Loan | $8,780,000 | $8,780,000 | $8,780,000 | $— |
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Approval of Renewal of Investment Management Agreement
Amundi Asset Management US, Inc. (“Amundi US”) serves as the investment adviser to Pioneer Bond Fund (the “Fund”) pursuant to an investment management agreement between Amundi US and the Fund. In order for Amundi US to remain the investment adviser of the Fund, the Trustees of the Fund, including a majority of the Fund’s Independent Trustees, must determine annually whether to renew the investment management agreement for the Fund.
The contract review process began in January 2023 as the Trustees of the Fund agreed on, among other things, an overall approach and timeline for the process. Contract review materials were provided to the Trustees in March 2023, July 2023 and September 2023. In addition, the Trustees reviewed and discussed the Fund’s performance at regularly scheduled meetings throughout the year, and took into account other information related to the Fund provided to the Trustees at regularly scheduled meetings, in connection with the review of the Fund’s investment management agreement.
In March 2023, the Trustees, among other things, discussed the memorandum provided by Fund counsel that summarized the legal standards and other considerations that are relevant to the Trustees in their deliberations regarding the renewal of the investment management agreement, and reviewed and discussed the qualifications of the investment management teams for the Fund, as well as the level of investment by the Fund’s portfolio managers in the Fund. In July 2023, the Trustees, among other things, reviewed the Fund’s management fees and total expense ratios, the financial statements of Amundi US and its parent companies, profitability analyses provided by Amundi US, and analyses from Amundi US as to possible economies of scale. The Trustees also reviewed the profitability of the institutional business of Amundi US, as compared to that of Amundi US’s fund management business, and considered the differences between the fees and expenses of the Fund and the fees and expenses of Amundi US’s institutional accounts, as well as the different services provided by Amundi US to the Fund and to the institutional accounts. The Trustees further considered contract review materials, including additional materials received in response to the Trustees’ request, in September 2023.
At a meeting held on September 19, 2023, based on their evaluation of the information provided by Amundi US and third parties, the Trustees of the Fund, including the Independent Trustees voting separately advised by independent counsel, unanimously approved the renewal of the investment
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management agreement for another year. In approving the renewal of the investment management agreement, the Trustees considered various factors that they determined were relevant, including the factors described below. The Trustees did not identify any single factor as the controlling factor in determining to approve the renewal of the agreement.
Nature, Extent and Quality of Services
The Trustees considered the nature, extent and quality of the services that had been provided by Amundi US to the Fund, taking into account the investment objective and strategy of the Fund. The Trustees also reviewed Amundi US’s investment approach for the Fund and its research process. The Trustees considered Amundi US’ integration of environmental, social and governance (ESG) considerations into its investment research process. The Trustees considered the resources of Amundi US and the personnel of Amundi US who provide investment management services to the Fund. They also reviewed the amount of non-Fund assets managed by the portfolio managers of the Fund. They considered the non-investment resources and personnel of Amundi US that are involved in Amundi US’s services to the Fund, including Amundi US’s compliance, risk management, and legal resources and personnel. The Trustees considered the compliance services being provided to the Fund by Amundi US and how Amundi US has addressed any compliance issues during the past year. The Trustees noted the substantial attention and high priority given by Amundi US’s senior management to the Pioneer Fund complex, including with respect to the increasing regulation to which the Pioneer Funds are subject.
The Trustees considered that Amundi US supervises and monitors the performance of the Fund’s service providers and provides the Fund with personnel (including Fund officers) and other resources that are necessary for the Fund’s business management and operations. The Trustees also considered that, as administrator, Amundi US is responsible for the administration of the Fund’s business and other affairs. The Trustees considered that the Fund reimburses Amundi US its pro rata share of Amundi US’s costs of providing administration services to the Pioneer Funds.
Based on these considerations, the Trustees concluded that the nature, extent and quality of services that had been provided by Amundi US to the Fund were satisfactory and consistent with the terms of the investment management agreement.
Performance of the Fund
In considering the Fund’s performance, the Trustees regularly review and discuss throughout the year data prepared by Amundi US and information
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comparing the Fund’s performance with the performance of its peer group of funds, as classified by Morningstar, Inc. (Morningstar), and with the performance of the Fund’s benchmark index. They also discuss the Fund’s performance with Amundi US on a regular basis. The Trustees’ regular reviews and discussions were factored into the Trustees’ deliberations concerning the renewal of the investment management agreement.
Management Fee and Expenses
The Trustees considered information showing the fees and expenses of the Fund in comparison to the management fees of its peer group of funds as classified by Morningstar and also to the expense ratios of a peer group of funds selected on the basis of criteria determined by the Independent Trustees for this purpose using data provided by Strategic Insight Mutual Fund Research and Consulting, LLC (Strategic Insight), an independent third party. The peer group comparisons referred to below are organized in quintiles. Each quintile represents one-fifth of the peer group. In all peer group comparisons referred to below, first quintile is most favorable to the Fund’s shareowners. The Trustees noted that they separately review and consider the impact of the Fund’s transfer agency and Fund- and Amundi US-paid expenses for sub-transfer agency and intermediary arrangements, and that the results of the most recent such review were considered in the consideration of the Fund’s expense ratio.
The Trustees considered that the Fund’s management fee for the most recent fiscal year was in the first quintile relative to the management fees paid by other funds in its Morningstar category for the comparable period. The Trustees also considered the breakpoints in the management fee schedule and the reduced fee rates above certain asset levels. The Trustees considered that the expense ratio of the Fund’s Class Y shares for the most recent fiscal year was in the second quintile relative to its Strategic Insight peer group for the comparable period.
The Trustees reviewed management fees charged by Amundi US to institutional and other clients, including publicly offered European funds sponsored by Amundi US’s affiliates, unaffiliated U.S. registered investment companies (in a sub-advisory capacity), and unaffiliated foreign and domestic separate accounts. The Trustees also considered Amundi US’s costs in providing services to the Fund and Amundi US’s costs in providing services to the other clients and considered the differences in management fees and profit margins for fund and non-fund services. In evaluating the fees associated with Amundi US’s client accounts, the Trustees took into account the respective demands, resources and complexity associated with the Fund and other client accounts. The Trustees noted that, in some instances, the fee rates for those clients were
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lower than the management fee for the Fund and considered that, under the investment management and administration agreements with the Fund, Amundi US performs additional services for the Fund that it does not provide to those other clients or services that are broader in scope, including oversight of the Fund’s other service providers and activities related to compliance and the extensive regulatory and tax regimes to which the Fund is subject. The Trustees also considered the entrepreneurial risks associated with Amundi US’s management of the Fund.
The Trustees concluded that the management fee payable by the Fund to Amundi US was reasonable in relation to the nature and quality of the services provided by Amundi US.
Profitability
The Trustees considered information provided by Amundi US regarding the profitability of Amundi US with respect to the advisory services provided by Amundi US to the Fund, including the methodology used by Amundi US in allocating certain of its costs to the management of the Fund. The Trustees also considered Amundi US’s profit margin in connection with the overall operation of the Fund. They further reviewed the financial results, including the profit margins, realized by Amundi US from non-fund businesses. The Trustees considered Amundi US’s profit margins in comparison to the limited industry data available and noted that the profitability of any adviser was affected by numerous factors, including its organizational structure and method for allocating expenses. The Trustees concluded that Amundi US’s profitability with respect to the management of the Fund was not unreasonable.
Economies of Scale
The Trustees considered Amundi US’s views relating to economies of scale in connection with the Pioneer Funds as fund assets grow and the extent to which any such economies of scale are shared with the Fund and Fund shareholders. The Trustees noted the breakpoints in the management fee schedule. The Trustees recognize that economies of scale are difficult to identify and quantify, and that, among other factors that may be relevant, are the following: fee levels, expense subsidization, investment by Amundi US in research and analytical capabilities and Amundi US’s commitment and resource allocation to the Fund. The Trustees noted that profitability also may be an indicator of the availability of any economies of scale, although profitability may vary for other reasons including due to reductions in expenses. The Trustees concluded that economies of scale, if any, were being appropriately shared with the Fund.
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Other Benefits
The Trustees considered the other benefits that Amundi US enjoys from its relationship with the Fund. The Trustees considered the character and amount of fees paid or to be paid by the Fund, other than under the investment management agreement, for services provided by Amundi US and its affiliates. The Trustees further considered the revenues and profitability of Amundi US’s businesses other than the Fund business. To the extent applicable, the Trustees also considered the benefits to the Fund and to Amundi US and its affiliates from the use of “soft” commission dollars generated by the Fund to pay for research and brokerage services.
The Trustees considered that Amundi US is the principal U.S. asset management business of Amundi, which is one of the largest asset managers globally. Amundi’s worldwide asset management business manages over $2.1 trillion in assets (including the Pioneer Funds). The Trustees considered that Amundi US’s relationship with Amundi creates potential opportunities for Amundi US and Amundi that derive from Amundi US’s relationships with the Fund, including Amundi’s ability to market the services of Amundi US globally. The Trustees noted that Amundi US has access to additional research and portfolio management capabilities as a result of its relationship with Amundi and Amundi’s enhanced global presence that may contribute to an increase in the resources available to Amundi US. The Trustees considered that Amundi US and the Fund receive reciprocal intangible benefits from the relationship, including mutual brand recognition and, for the Fund, direct and indirect access to the resources of a large global asset manager. The Trustees concluded that any such benefits received by Amundi US as a result of its relationship with the Fund were reasonable.
Conclusion
After consideration of the factors described above as well as other factors, the Trustees, including the Independent Trustees, concluded that the investment management agreement for the Fund, including the fees payable thereunder, was fair and reasonable and voted to approve the proposed renewal of the investment management agreement.
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Trustees, Officers and Service Providers
Trustees
Thomas J. Perna, Chairman
John E. Baumgardner, Jr.
Diane Durnin
Benjamin M. Friedman
Lisa M. Jones
Craig C. MacKay
Lorraine H. Monchak
Marguerite A. Piret*
Fred J. Ricciardi
Kenneth J. Taubes**
Officers***
Lisa M. Jones, President and
Chief Executive Officer
Anthony J. Koenig, Jr., Treasurer
and Chief Financial and
Accounting Officer
Christopher J. Kelley, Secretary and
Chief Legal Officer
Investment Adviser and Administrator
Amundi Asset Management US, Inc.
Custodian and Sub-Administrator
The Bank of New York Mellon Corporation
Independent Registered Public Accounting Firm
Ernst & Young LLP
Principal Underwriter
Amundi Distributor US, Inc.
Legal Counsel
Morgan, Lewis & Bockius LLP
Transfer Agent
BNY Mellon Investment Servicing (US) Inc.
Proxy Voting Policies and Procedures of the Fund are available without charge, upon request, by calling our toll free number (1-800-225-6292). Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is publicly available to shareholders at www.amundi.com/us. This information is also available on the Securities and Exchange Commission’s web site at www.sec.gov.
* | Ms. Piret became a non-voting Advisory Trustee of the Pioneer Funds effective January 22, 2024. |
** | Mr. Taubes retired as a Trustee, effective January 1, 2024. |
* | Ms. Piret became a non-voting Advisory Trustee of the Pioneer Funds effective January 22, 2024. |
*** | Marco Pirondini has been appointed to serve as an Executive Vice President of the Fund and Chief Investment Officer of Amundi US, Inc., effective January 1, 2024. |
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How to Contact Amundi
We are pleased to offer a variety of convenient ways for you to contact us for assistance or information.
Call us for:
Account Information, including existing accounts,
new accounts, prospectuses, applications
and service forms
1-800-225-6292
FactFoneSM for automated fund yields, prices,
account information and transactions
1-800-225-4321
Retirement plans information | 1-800-622-0176 |
Write to us:
Amundi
P.O. Box 534427
Pittsburgh, PA 15253-4427
Our toll-free fax | 1-800-225-4240 |
Our internet e-mail address | us.askamundi@amundi.com (for general questions about Amundi only) |
Visit our web site: www.amundi.com/us
This report must be preceded or accompanied by a prospectus.
The Fund files a complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. Shareholders may view the filed Form N-PORT by visiting the Commission’s web site at https://www.sec.gov.
Amundi Asset Management US, Inc.
60 State Street
Boston, MA 02109
www.amundi.com/us
Securities offered through Amundi Distributor US, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer Mutual Funds, Member SIPC
© 2023 Amundi Asset Management US, Inc. 18633-18-0224
ITEM 2. CODE OF ETHICS.
(a) Disclose whether, as of the end of the period covered by the report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, explain why it has not done so.
The registrant has adopted, as of the end of the period covered by this report, a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer and controller.
(b) For purposes of this Item, the term “code of ethics” means written standards that are reasonably designed to deter wrongdoing and to promote:
(1) Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
(2) Full, fair, accurate, timely, and understandable disclosure in reports and documents that a registrant files with, or submits to, the Commission and in other public communications made by the registrant;
(3) Compliance with applicable governmental laws, rules, and regulations;
(4) The prompt internal reporting of violations of the code to an appropriate person or persons identified in the code; and
(5) Accountability for adherence to the code.
(c) The registrant must briefly describe the nature of any amendment, during the period covered by the report, to a provision of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item. The registrant must file a copy of any such amendment as an exhibit pursuant to Item 10(a), unless the registrant has elected to satisfy paragraph (f) of this Item by posting its code of ethics on its website pursuant to paragraph (f)(2) of this Item, or by undertaking to provide its code of ethics to any person without charge, upon request, pursuant to paragraph (f)(3) of this Item.
The registrant has made no amendments to the code of ethics during the period covered by this report.
(d) If the registrant has, during the period covered by the report, granted a waiver, including an implicit waiver, from a provision of the code of ethics to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this Item, the registrant must briefly describe the nature of the waiver, the name of the person to whom the waiver was granted, and the date of the waiver.
Not applicable.
(e) If the registrant intends to satisfy the disclosure requirement under paragraph (c) or (d) of this Item regarding an amendment to, or a waiver from, a provision of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item by posting such information on its Internet website, disclose the registrant’s Internet address and such intention.
Not applicable.
(f) The registrant must:
(1) File with the Commission, pursuant to Item 12(a)(1), a copy of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, as an exhibit to its annual report on this Form N-CSR (see attachment);
(2) Post the text of such code of ethics on its Internet website and disclose, in its most recent report on this Form N-CSR, its Internet address and the fact that it has posted such code of ethics on its Internet website; or
(3) Undertake in its most recent report on this Form N-CSR to provide to any person without charge, upon request, a copy of such code of ethics and explain the manner in which such request may be made. See Item 10(2)
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
(a) (1) Disclose that the registrant’s Board of Trustees has determined that the registrant either:
(i) Has at least one audit committee financial expert serving on its audit committee; or
(ii) Does not have an audit committee financial expert serving on its audit committee.
The registrant’s Board of Trustees has determined that the registrant has at least one audit committee financial expert.
(2) If the registrant provides the disclosure required by paragraph (a)(1)(i) of this Item, it must disclose the name of the audit committee financial expert and whether that person is “independent.” In order to be considered “independent” for purposes of this Item, a member of an audit committee may not, other than in his or her capacity as a member of the audit committee, the Board of Trustees, or any other board committee:
(i) Accept directly or indirectly any consulting, advisory, or other compensatory fee from the issuer; or
(ii) Be an “interested person” of the investment company as defined in Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)).
Mr. Fred J. Ricciardi, an independent Trustee, is such an audit committee financial expert.
(3) If the registrant provides the disclosure required by paragraph (a)(1) (ii) of this Item, it must explain why it does not have an audit committee financial expert.
Not applicable.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Disclose, under the caption AUDIT FEES, the aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
N/A
(b) Disclose, under the caption AUDIT-RELATED FEES, the aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
N/A
(c) Disclose, under the caption TAX FEES, the aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
N/A
(d) Disclose, under the caption ALL OTHER FEES, the aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
N/A
(e) (1) Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
PIONEER FUNDS
APPROVAL OF AUDIT, AUDIT-RELATED, TAX AND OTHER SERVICES
PROVIDED BY THE INDEPENDENT AUDITOR
SECTION I—POLICY PURPOSE AND APPLICABILITY
The Pioneer Funds recognize the importance of maintaining the independence of their outside auditors. Maintaining independence is a shared responsibility involving Amundi Asset Management US, Inc., the audit committee and the independent auditors.
The Funds recognize that a Fund’s independent auditors: 1) possess knowledge of the Funds, 2) are able to incorporate certain services into the scope of the audit, thereby avoiding redundant work, cost and disruption of Fund personnel and processes, and 3) have expertise that has value to the Funds. As a result, there are situations where it is desirable to use the Fund’s independent auditors for services in addition to the annual audit and where the potential for conflicts of interests are minimal. Consequently, this policy, which is intended to comply with Rule 210.2-01(C)(7), sets forth guidelines and procedures to be followed by the Funds when retaining the independent audit firm to perform audit, audit-related tax and other services under those circumstances, while also maintaining independence.
Approval of a service in accordance with this policy for a Fund shall also constitute approval for any other Fund whose pre-approval is required pursuant to Rule 210.2-01(c)(7)(ii).
In addition to the procedures set forth in this policy, any non-audit services that may be provided consistently with Rule 210.2-01 may be approved by the Audit Committee itself and any pre-approval that may be waived in accordance with Rule 210.2-01(c)(7)(i)(C) is hereby waived.
Selection of a Fund’s independent auditors and their compensation shall be determined by the Audit Committee and shall not be subject to this policy.
SECTION II—POLICY
| | | | |
SERVICE CATEGORY | | SERVICE CATEGORY DESCRIPTION | | SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES |
I. AUDIT SERVICES | | Services that are directly related to performing the independent audit of the Funds | | • Accounting research assistance • SEC consultation, registration statements, and reporting • Tax accrual related matters • Implementation of new accounting standards • Compliance letters (e.g. rating agency letters) • Regulatory reviews and assistance regarding financial matters • Semi-annual reviews (if requested) • Comfort letters for closed end offerings |
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II. AUDIT-RELATED SERVICES | | Services which are not prohibited under Rule 210.2-01(C)(4) (the “Rule”) and are related extensions of the audit services support the audit, or use the knowledge/expertise gained from the audit procedures as a foundation to complete the project. In most cases, if the Audit-Related Services are not performed by the Audit firm, the scope of the Audit Services would likely increase. The Services are typically well-defined and governed by accounting professional standards (AICPA, SEC, etc.) | | • AICPA attest and agreed-upon procedures • Technology control assessments • Financial reporting control assessments • Enterprise security architecture assessment |
| | |
AUDIT COMMITTEE APPROVAL POLICY | | AUDIT COMMITTEE REPORTING POLICY |
• “One-time” pre-approval for the audit period for all pre-approved specific service subcategories. Approval of the independent auditors as auditors for a Fund shall constitute pre approval for these services. | | • A summary of all such services and related fees reported at each regularly scheduled Audit Committee meeting. |
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• “One-time” pre-approval for the fund fiscal year within a specified dollar limit for all pre-approved specific service subcategories | | • A summary of all such services and related fees (including comparison to specified dollar limits) reported quarterly. |
| | |
• Specific approval is needed to exceed the pre-approved dollar limit for these services (see general Audit Committee approval policy below for details on obtaining specific approvals) • Specific approval is needed to use the Fund’s auditors for Audit-Related Services not denoted as “pre-approved”, or to add a specific service subcategory as “pre-approved” | | |
SECTION III—POLICY DETAIL, CONTINUED
| | | | |
SERVICE CATEGORY | | SERVICE CATEGORY DESCRIPTION | | SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES |
III. TAX SERVICES | | Services which are not prohibited by the Rule, if an officer of the Fund determines that using the Fund’s auditor to provide these services creates significant synergy in the form of efficiency, minimized disruption, or the ability to maintain a desired level of confidentiality. | | • Tax planning and support • Tax controversy assistance • Tax compliance, tax returns, excise tax returns and support • Tax opinions |
| | |
AUDIT COMMITTEE APPROVAL POLICY | | AUDIT COMMITTEE REPORTING POLICY |
• “One-time” pre-approval for the fund fiscal year within a specified dollar limit | | • A summary of all such services and related fees (including comparison to specified dollar limits) reported quarterly. |
| |
• Specific approval is needed to exceed the pre-approved dollar limits for these services (see general Audit Committee approval policy below for details on obtaining specific approvals) | | |
| |
• Specific approval is needed to use the Fund’s auditors for tax services not denoted as pre-approved, or to add a specific service subcategory as “pre-approved” | | |
SECTION III—POLICY DETAIL, CONTINUED
| | | | |
SERVICE CATEGORY | | SERVICE CATEGORY DESCRIPTION | | SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES |
IV. OTHER SERVICES A. SYNERGISTIC, UNIQUE QUALIFICATIONS | | Services which are not prohibited by the Rule, if an officer of the Fund determines that using the Fund’s auditor to provide these services creates significant synergy in the form of efficiency, minimized disruption, the ability to maintain a desired level of confidentiality, or where the Fund’s auditors posses unique or superior qualifications to provide these services, resulting in superior value and results for the Fund. | | • Business Risk Management support • Other control and regulatory compliance projects |
|
| | |
AUDIT COMMITTEE APPROVAL POLICY | | AUDIT COMMITTEE REPORTING POLICY |
• “One-time” pre-approval for the fund fiscal year within a specified dollar limit | | • A summary of all such services and related fees (including comparison to specified dollar limits) reported quarterly. |
| |
• Specific approval is needed to exceed the pre-approved dollar limits for these services (see general Audit Committee approval policy below for details on obtaining specific approvals) | | |
| |
• Specific approval is needed to use the Fund’s auditors for “Synergistic” or “Unique Qualifications” Other Services not denoted as pre-approved to the left, or to add a specific service subcategory as “pre-approved” | | |
SECTION III—POLICY DETAIL, CONTINUED
| | | | |
SERVICE CATEGORY | | SERVICE CATEGORY DESCRIPTION | | SPECIFIC PROHIBITED SERVICE SUBCATEGORIES |
PROHIBITED SERVICES | | Services which result in the auditors losing independence status under the Rule. | | 1. Bookkeeping or other services related to the accounting records or financial statements of the audit client* |
| | |
| | | | 2. Financial information systems design and implementation* |
| | |
| | | | 3. Appraisal or valuation services, fairness* opinions, or contribution-in-kind reports |
| | |
| | | | 4. Actuarial services (i.e., setting actuarial reserves versus actuarial audit work)* |
| | |
| | | | 5. Internal audit outsourcing services* |
| | |
| | | | 6. Management functions or human resources |
| | |
| | | | 7. Broker or dealer, investment advisor, or investment banking services |
| | |
| | | | 8. Legal services and expert services unrelated to the audit |
| | |
| | | | 9. Any other service that the Public Company Accounting Oversight Board determines, by regulation, is impermissible |
| | |
AUDIT COMMITTEE APPROVAL POLICY | | AUDIT COMMITTEE REPORTING POLICY |
• These services are not to be performed with the exception of the(*) services that may be permitted if they would not be subject to audit procedures at the audit client (as defined in rule 2-01(f)(4)) level the firm providing the service. | | • A summary of all services and related fees reported at each regularly scheduled Audit Committee meeting will serve as continual confirmation that has not provided any restricted services. |
GENERAL AUDIT COMMITTEE APPROVAL POLICY:
| • | | For all projects, the officers of the Funds and the Fund’s auditors will each make an assessment to determine that any proposed projects will not impair independence. |
| • | | Potential services will be classified into the four non-restricted service categories and the “Approval of Audit, Audit-Related, Tax and Other Services” Policy above will be applied. Any services outside the specific pre-approved service subcategories set forth above must be specifically approved by the Audit Committee. |
| • | | At least quarterly, the Audit Committee shall review a report summarizing the services by service category, including fees, provided by the Audit firm as set forth in the above policy. |
(2) Disclose the percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
Non-Audit Services
N/A
(f) If greater than 50 percent, disclose the percentage of hours expended on the principal accountants engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.
N/A
(g) Disclose the aggregate non-audit fees billed by the registrants accountant for services rendered to the registrant, and rendered to the registrants investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant.
N/A
(h) Disclose whether the registrants audit committee of the Board of Trustees has considered whether the provision of non-audit services that were rendered to the registrants investment adviser (not including any subadviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
The Fund’s audit committee of the Board of Trustees has considered whether the provision of non-audit services that were rendered to the Affiliates (as defined) that were not pre- approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
(i) A registrant identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form NCSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction must electronically submit to the Commission on a supplemental basis documentation that establishes that the registrant is not owned or controlled by a governmental entity in the foreign jurisdiction. The registrant must submit this documentation on or before the due date for this form. A registrant that is owned or controlled by a foreign governmental entity is not required to submit such documentation.
N/A
(j) A registrant that is a foreign issuer, as defined in 17 CFR 240.3b-4, identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction, for each year in which the registrant is so identified, must provide the below disclosures. Also, any such identified foreign issuer that uses a variable-interest entity or any similar structure that results in additional foreign entities being consolidated in the financial statements of the registrant is required to provide the below disclosures for itself and its consolidated foreign operating entity or entities. A registrant must disclose:
(1) That, for the immediately preceding annual financial statement period, a registered public accounting firm that the PCAOB was unable to inspect or investigate completely, because of a position taken by an authority in the foreign jurisdiction, issued an audit report for the registrant;
N/A
(2) The percentage of shares of the registrant owned by governmental entities in the foreign jurisdiction in which the registrant is incorporated or otherwise organized;
N/A
(3) Whether governmental entities in the applicable foreign jurisdiction with respect to that registered public accounting firm have a controlling financial interest with respect to the registrant; N/A
(4) The name of each official of the Chinese Communist Party who is a member of the board of directors of the registrant or the operating entity with respect to the registrant;
N/A
(5) Whether the articles of incorporation of the registrant (or equivalent organizing document) contains any charter of the Chinese Communist Party, including the text of any such charter.
N/A
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
(a) If the registrant is a listed issuer as defined in Rule 10A-3 under the Exchange Act (17 CFR 240.10A-3), state whether or not the registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)). If the registrant has such a committee, however designated, identify each committee member. If the entire board of directors is acting as the registrant’s audit committee as specified in Section 3(a)(58)(B) of the Exchange Act (15 U.S.C. 78c(a)(58)(B)), so state.
N/A
(b) If applicable, provide the disclosure required by Rule 10A-3(d) under the Exchange Act (17 CFR 240.10A-3(d)) regarding an exemption from the listing standards for audit committees.
N/A
ITEM 6. SCHEDULE OF INVESTMENTS.
File Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period as set forth in 210.1212 of Regulation S-X [17 CFR 210.12-12], unless the schedule is included as part of the report to shareholders filed under Item 1 of this Form.
Included in Item 1
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
A closed-end management investment company that is filing an annual report on this Form N-CSR must, unless it invests exclusively in non-voting securities, describe the policies and procedures that it uses to determine how to vote proxies relating to portfolio securities, including the procedures that the company uses when a vote presents a conflict between the interests of its shareholders, on the one hand, and those of the company’s investment adviser; principal underwriter; or any affiliated person (as defined in Section 2(a)(3) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(3)) and the rules thereunder) of the company, its investment adviser, or its principal underwriter, on the other. Include any policies and procedures of the company’s investment adviser, or any other third party, that the company uses, or that are used on the company’s behalf, to determine how to vote proxies relating to portfolio securities.
N/A
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
(a) If the registrant is a closed-end management investment company that is filing an annual report on this Form N-CSR, provide the following information:
(1) State the name, title, and length of service of the person or persons employed by or associated with the registrant or an investment adviser of the registrant who are primarily responsible for the day-to-day management of the registrant’s portfolio (“Portfolio Manager”). Also state each Portfolio Manager’s business experience during the past 5 years.
N/A
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
(a) If the registrant is a closed-end management investment company, in the following tabular format, provide the information specified in paragraph (b) of this Item with respect to any purchase made by or on behalf of the registrant or any affiliated purchaser, as defined in Rule 10b-18(a)(3) under the Exchange Act (17 CFR 240.10b-18(a)(3)), of shares or other units of any class of the registrant’s equity securities that is registered by the registrant pursuant to Section 12 of the Exchange Act (15 U.S.C. 781).
N/A
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Describe any material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-R(17 CFR 229.407)(as required by Item 22(b)(15)) of Schedule 14A (17 CFR 240.14a-101), or this Item.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors since the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-R of Schedule 14(A) in its definitive proxy statement, or this item.
ITEM 11. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant’s principal executive and principal financials officers, or persons performing similar functions, regarding the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30(a)-3(b) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).
The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures are effective based on the evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(b) Disclose any change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
There were no significant changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
(a) If the registrant is a closed-end management investment company, provide the following dollar amounts of income and compensation related to the securities lending activities of the registrant during its most recent fiscal year:
N/A
(1) Gross income from securities lending activities;
N/A
(2) All fees and/or compensation for each of the following securities lending activities and related services: any share of revenue generated by the securities lending program paid to the securities lending agent(s) (revenue split); fees paid for cash collateral management services (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in the revenue split; administrative fees that are not included in the revenue split; fees for indemnification that are not included in the revenue split; rebates paid to borrowers; and any other fees relating to the securities lending program that are not included in the revenue split, including a description of those other fees;
N/A
(3) The aggregate fees/compensation disclosed pursuant to paragraph (2); and
N/A
(4) Net income from securities lending activities (i.e., the dollar amount in paragraph (1) minus the dollar amount in paragraph (3)).
If a fee for a service is included in the revenue split, state that the fee is included in the revenue split.
N/A
(b) If the registrant is a closed-end management investment company, describe the services provided to the registrant by the securities lending agent in the registrants most recent fiscal year.
N/A
ITEM 13. EXHIBITS.
(a) File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated.
(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit.
(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)) , exactly as set forth below: Filed herewith.
(b) Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.
SIGNATURES
[See General Instruction F]
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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(Registrant) Pioneer Bond Fund |
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By (Signature and Title)* /s/ Lisa M. Jones |
Lisa M. Jones, Principal Executive Officer |
Date March 5, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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By (Signature and Title)* /s/ Lisa M. Jones |
Lisa M. Jones, Principal Executive Officer |
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Date March 5, 2024 |
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By (Signature and Title)* /s/ Anthony J. Koenig, Jr. |
Anthony J. Koenig, Jr., Principal Financial Officer |
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Date March 5, 2024 |
* | Print the name and title of each signing officer under his or her signature. |