PIONEER VARIABLE CONTRACTS TRUST
Pioneer Fund VCT Portfolio — Class I and II Shares
Schedule of Investments
March 31, 2020
Shares | Value | ||||
UNAFFILIATED ISSUERS - 99.2% | |||||
COMMON STOCKS - 99.2% of Net Assets | |||||
Air Freight & Logistics - 3.2% | |||||
31,682 | United Parcel Service, Inc., Class B | $2,959,733 | |||
Total Air Freight & Logistics | $2,959,733 | ||||
Banks - 5.7% | |||||
140,753 | Bank of America Corp. | $2,988,186 | |||
75,942 | Wells Fargo & Co. | 2,179,535 | |||
Total Banks | $5,167,721 | ||||
Beverages - 1.7% | |||||
7,484 | Coca-Cola Co. | $331,167 | |||
9,585 | PepsiCo., Inc. | 1,151,158 | |||
Total Beverages | $1,482,325 | ||||
Biotechnology - 2.2% | |||||
5,737(a) | Biogen, Inc. | $1,815,072 | |||
437(a) | Regeneron Pharmaceuticals, Inc. | 213,383 | |||
Total Biotechnology | $2,028,455 | ||||
Capital Markets - 6.9% | |||||
2,879 | BlackRock, Inc. | $1,266,674 | |||
23,878 | Charles Schwab Corp. | 802,778 | |||
13,012 | CME Group, Inc. | 2,249,905 | |||
8,114 | S&P Global, Inc. | 1,988,336 | |||
Total Capital Markets | $6,307,693 | ||||
Chemicals - 3.1% | |||||
28,236 | International Flavors & Fragrances, Inc. | $2,882,331 | |||
Total Chemicals | $2,882,331 | ||||
Diversified Telecommunication Services - 4.9% | |||||
84,445 | Verizon Communications, Inc. | $4,537,230 | |||
Total Diversified Telecommunication Services | $4,537,230 | ||||
Electric Utilities - 1.2% | |||||
13,773 | Eversource Energy | $1,077,186 | |||
Total Electric Utilities | $1,077,186 | ||||
Energy Equipment & Services - 0.7% | |||||
43,754 | Schlumberger, Ltd. | $590,242 | |||
Total Energy Equipment & Services | $590,242 | ||||
Entertainment - 2.4% | |||||
22,935 | Walt Disney Co. | $2,215,521 | |||
Total Entertainment | $2,215,521 | ||||
Equity Real Estate Investment Trusts (REIT) - 0.5% | |||||
2,136 | Essex Property Trust, Inc. | $470,433 | |||
Total Equity Real Estate Investment Trusts (REIT) | $470,433 | ||||
Food & Staples Retailing - 2.8% | |||||
22,253 | Walmart, Inc. | $2,528,386 | |||
Total Food & Staples Retailing | $2,528,386 | ||||
Food Products - 0.6% | |||||
3,856 | McCormick & Co., Inc. | $544,506 | |||
Total Food Products | $544,506 | ||||
Health Care Equipment & Supplies - 4.0% | |||||
17,436 | Danaher Corp. | $2,413,317 | |||
14,404 | Medtronic PLC | 1,298,952 | |||
Total Health Care Equipment & Supplies | $3,712,269 | ||||
Health Care Providers & Services - 0.5% | |||||
1,916 | Anthem, Inc. | $435,009 | |||
Total Health Care Providers & Services | $435,009 | ||||
Hotels, Restaurants & Leisure - 2.7% | |||||
1,836 | McDonald's Corp. | $303,583 | |||
32,764 | Starbucks Corp. | 2,153,905 | |||
Total Hotels, Restaurants & Leisure | $2,457,488 | ||||
Industrial Conglomerates - 0.3% | |||||
2,360 | Honeywell International, Inc. | $315,744 | |||
Total Industrial Conglomerates | $315,744 | ||||
Insurance - 0.4% | |||||
10,441 | Hartford Financial Services Group, Inc. | $367,941 | |||
Total Insurance | $367,941 | ||||
Interactive Media & Services - 9.8% | |||||
4,340(a) | Alphabet, Inc. | $5,042,863 | |||
23,812(a) | Facebook, Inc. | 3,971,841 | |||
Total Interactive Media & Services | $9,014,704 | ||||
Internet & Direct Marketing Retail - 5.6% | |||||
2,642(a) | Amazon.com, Inc. | $5,151,160 | |||
Total Internet & Direct Marketing Retail | $5,151,160 | ||||
IT Services - 2.5% | |||||
14,297 | Visa, Inc. | $2,303,533 | |||
Total IT Services | $2,303,533 | ||||
Life Sciences Tools & Services - 2.0% | |||||
25,107 | Agilent Technologies, Inc. | $1,798,163 | |||
Shares | Value | ||||
Life Sciences Tools & Services – (continued) | |||||
728(a) | Waters Corp. | $132,532 | |||
Total Life Sciences Tools & Services | $1,930,695 | ||||
Oil, Gas & Consumable Fuels - 0.2% | |||||
5,660 | EOG Resources, Inc. | $203,307 | |||
Total Oil, Gas & Consumable Fuels | $203,307 | ||||
Pharmaceuticals - 8.8% | |||||
147,958(a) | Elanco Animal Health, Inc. | $3,312,780 | |||
24,485 | Johnson & Johnson | 3,210,718 | |||
20,667 | Merck & Co., Inc. | 1,590,119 | |||
Total Pharmaceuticals | $8,113,617 | ||||
Road & Rail - 4.0% | |||||
25,983 | Union Pacific Corp. | $3,664,642 | |||
Total Road & Rail | $3,664,642 | ||||
Semiconductors & Semiconductor Equipment - 5.8% | |||||
11,851 | Analog Devices, Inc. | $1,062,442 | |||
6,423 | Lam Research Corp. | 1,541,520 | |||
11,032(a) | Micron Technology, Inc. | 464,006 | |||
8,596 | NVIDIA Corp. | 2,265,906 | |||
Total Semiconductors & Semiconductor Equipment | $5,333,874 | ||||
Software - 5.5% | |||||
31,730 | Microsoft Corp. | $5,004,138 | |||
Total Software | $5,004,138 | ||||
Specialty Retail - 4.0% | |||||
19,711 | Home Depot, Inc. | $3,680,241 | |||
Total Specialty Retail | $3,680,241 | ||||
Technology Hardware, Storage & Peripherals - 4.6% | |||||
16,404 | Apple, Inc. | $4,171,373 | |||
Total Technology Hardware, Storage & Peripherals | $4,171,373 | ||||
Textiles, Apparel & Luxury Goods - 2.6% | |||||
28,801 | NIKE, Inc., Class B | $2,382,995 | |||
Total Textiles, Apparel & Luxury Goods | $2,382,995 | ||||
TOTAL COMMON STOCKS | |||||
(Cost $83,448,762) | $91,034,492 | ||||
TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS - 99.2% | |||||
(Cost $83,448,762) | $91,034,492 | ||||
OTHER ASSETS AND LIABILITIES - 0.8% | $763,090 | ||||
NET ASSETS - 100.0% | $91,797,582 | ||||
REIT | Real Estate Investment Trust. |
(a) | Non-income producing security. |
Various inputs are used in determining the value of the Portfolio's investments. These inputs are summarized in the three broad levels below. |
Level 1 - quoted prices in active markets for identical securities. |
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
Level 3 - significant unobservable inputs (including the Portfolio's own assumptions in determining fair value of investments). |
The following is a summary of the inputs used as of March 31, 2020, in valuing the Portfolio's investments: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks | $ | 91,034,492 | $ | – | $ | – | $ | 91,034,492 | ||||||||
Total Investments in Securities | $ | 91,034,492 | $ | – | $ | – | $ | 91,034,492 |
For the three months ended March 31, 2020, there were no transfers between Levels 1, 2 and 3.