Pioneer Real Estate Shares NPORT-P Pioneer Real Estate Shares (Sep 2021 report)

Pioneer Real

Estate Shares

Schedule of Investments | September 30, 2021

Ticker Symbols:

Class A PWREX

Class C PCREX

Class Y PYREX

Schedule of Investments | 9/30/21 (unaudited)

Shares				Value
			UNAFFILIATED ISSUERS - 99.9%
			COMMON STOCKS - 99.9% of Net Assets
			Equity Real Estate Investment Trusts (REITs) - 97.5%
	8,186		Agree Realty Corp.	$	542,159
	13,568		Alexandria Real Estate Equities, Inc.		2,592,438
	59,556		American Homes 4 Rent		2,270,275
	1,597		American Tower Corp.		423,860
	8,263		AvalonBay Communities, Inc.		1,831,411
	79,086		Brixmor Property Group, Inc.		1,748,591
	32,279		Broadstone Net Lease, Inc.		800,842
	12,250		Camden Property Trust		1,806,507
	58,987	(a)	CorePoint Lodging, Inc.		914,299
	9,883		Cousins Properties, Inc.		368,537
	19,055		EastGroup Properties, Inc.		3,175,135
	8,089		Equinix, Inc.		6,391,362
	24,234		Equity LifeStyle Properties, Inc.		1,892,675
	37,230		Essential Properties Realty Trust, Inc.		1,039,462
	17,983		Extra Space Storage, Inc.		3,020,964
	25,028		First Industrial Realty Trust, Inc.		1,303,458
	18,843		Healthcare Trust of America, Inc.		558,883
	63,922		Independence Realty Trust, Inc.		1,300,813
	15,151		Innovative Industrial Properties, Inc.		3,502,457
	22,907		Iron Mountain, Inc.		995,309
	70,965		Kimco Realty Corp.		1,472,524
	14,737		Life Storage, Inc.		1,690,923
	124,552		Macerich Co.		2,081,264
	14,658		Mid-America Apartment Communities, Inc.		2,737,382
	66,544		National Storage Affiliates Trust		3,512,858
	26,623		NETSTREIT Corp.		629,634
	19,162		NexPoint Residential Trust, Inc.		1,185,745
	43,095	(a)	Park Hotels & Resorts, Inc.		824,838
	54,294		Prologis, Inc.		6,810,096
	102,848		Retail Properties of America, Inc.		1,324,682
	51,259		Retail Value, Inc.		1,349,649
	7,606		Rexford Industrial Realty, Inc.		431,641
	9,304	(a)	Ryman Hospitality Properties, Inc.		778,745
	2,687		Safehold, Inc.		193,168
	32,874		Simon Property Group, Inc.		4,272,634
	49,496		SITE Centers Corp.		764,218
	14,858		SL Green Realty Corp.		1,052,541
	14,813		STAG Industrial, Inc.		581,410
	13,521		Sun Communities, Inc.		2,502,737
	50,679		UDR, Inc., Class REIT		2,684,973
	32,090		Welltower, Inc.		2,644,216
			Total Equity Real Estate Investment Trusts (REITs)	$	76,005,315
			Real Estate Management & Development - 2.4%
	21,380		eXp World Holdings, Inc.	$	850,282
	2,041	(a)	Jones Lang LaSalle, Inc.		506,352
	34,623		Newmark Group, Inc.		495,455
			Total Real Estate Management & Development	$	1,852,089
			TOTAL COMMON STOCKS
			(Cost $58,305,514)	$	77,857,404
			TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS - 99.9%
			(Cost $58,305,514)	$	77,857,404
			OTHER ASSETS AND LIABILITIES - 0.1%	$	116,340
			NET ASSETS - 100.0%	$	77,973,744

REIT Real Estate Investment Trust.

(a) Non-income producing security.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels below.
Level 1 - unadjusted quoted prices in active markets for identical securities.
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).
Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments).
The following is a summary of the inputs used as of September 30, 2021, in valuing the Fund's investments:
	Level 1	Level 2	Level 3	Total
Common Stocks	$ 77,857,404	$ –	$ –	$ 77,857,404
Total Investments in Securities	$ 77,857,404	$ –	$ –	$ 77,857,404

For the nine months ended September 30, 2021, there were no transfers in or out of Level 3.

Pioneer Real Estate Shares | 9/30/21