PIONEER VARIABLE CONTRACTS TRUST
Pioneer Equity Income VCT Portfolio — Class I and II Shares
Schedule of Investments
September 30, 2020
Schedule of Investments I 9/30/20 (unaudited)
Shares | Value | ||||
UNAFFILIATED ISSUERS - 98.8% | |||||
COMMON STOCKS - 98.8% of Net Assets | |||||
Air Freight & Logistics - 0.7% | |||||
6,878 | CH Robinson Worldwide, Inc. | $ 702,863 | |||
Total Air Freight & Logistics | $ 702,863 | ||||
Auto Components - 1.4% | |||||
36,631 | BorgWarner, Inc. | $1,419,085 | |||
Total Auto Components | $1,419,085 | ||||
Banks - 5.4% | |||||
74,070 | Bank of America Corp. | $1,784,346 | |||
6,804 | Canadian Imperial Bank of Commerce | 508,395 | |||
9,164 | M&T Bank Corp. | 843,913 | |||
10,932 | PNC Financial Services Group, Inc. | 1,201,536 | |||
27,617 | Truist Financial Corp. | 1,050,827 | |||
Total Banks | $5,389,017 | ||||
Capital Markets - 5.2% | |||||
23,842 | Bank of New York Mellon Corp. | $ 818,734 | |||
21,111 | Morgan Stanley | 1,020,717 | |||
11,528 | Northern Trust Corp. | 898,838 | |||
12,463 | State Street Corp. | 739,430 | |||
13,194 | T Rowe Price Group, Inc. | 1,691,735 | |||
Total Capital Markets | $5,169,454 | ||||
Chemicals - 3.3% | |||||
12,605 | Celanese Corp. | $1,354,407 | |||
6,299 | Corteva, Inc. | 181,474 | |||
9,433 | Dow, Inc. | 443,823 | |||
8,664 | DuPont de Nemours, Inc. | 480,679 | |||
4,251 | FMC Corp. | 450,223 | |||
4,489 | Johnson Matthey Plc (A.D.R.) | 276,073 | |||
Total Chemicals | $3,186,679 | ||||
Commercial Services & Supplies - 1.2% | |||||
9,109 | MSA Safety, Inc. | $1,222,155 | |||
Total Commercial Services & Supplies | $1,222,155 | ||||
Communications Equipment - 0.8% | |||||
19,247 | Cisco Systems, Inc. | $ 758,139 | |||
Total Communications Equipment | $ 758,139 | ||||
Distributors - 1.0% | |||||
10,604 | Genuine Parts Co. | $1,009,183 | |||
Total Distributors | $1,009,183 | ||||
Diversified Telecommunication Services - 3.0% | |||||
11,125 | BCE, Inc. | $ 461,354 | |||
41,937 | Verizon Communications, Inc. | 2,494,832 | |||
Total Diversified Telecommunication Services | $2,956,186 | ||||
Electric Utilities - 3.5% | |||||
35,466 | Alliant Energy Corp. | $1,831,819 | |||
9,587 | American Electric Power Co., Inc. | 783,545 | |||
1,827 | NextEra Energy, Inc. | 507,102 | |||
14,750 | PPL Corp. | 401,347 | |||
Total Electric Utilities | $3,523,813 | ||||
Electrical Equipment - 0.5% | |||||
8,517 | Emerson Electric Co. | $ 558,460 | |||
Total Electrical Equipment | $ 558,460 | ||||
Electronic Equipment, Instruments & Components - 0.9% | |||||
9,417 | TE Connectivity, Ltd. | $ 920,418 | |||
Total Electronic Equipment, Instruments & Components | $ 920,418 | ||||
Equity Real Estate Investment Trusts (REITs) - 3.4% | |||||
11,749 | Alexandria Real Estate Equities, Inc. | $1,879,840 | |||
7,625 | Camden Property Trust | 678,473 | |||
3,508 | Digital Realty Trust, Inc. | 514,834 | |||
3,318 | Prologis, Inc. | 333,857 | |||
Total Equity Real Estate Investment Trusts (REITs) | $3,407,004 | ||||
Financials - 1.1% | |||||
11,151 | JPMorgan Chase & Co. | $1,073,507 | |||
Total Financials | $1,073,507 | ||||
Food & Staples Retailing - 1.0% | |||||
6,832 | Walmart, Inc. | $ 955,865 | |||
Total Food & Staples Retailing | $ 955,865 | ||||
Food Products - 8.5% | |||||
1,764 | Calavo Growers, Inc. | $ 116,900 | |||
15,931 | General Mills, Inc. | 982,624 | |||
2,936 | Hershey Co. | 420,846 | |||
4,654 | JM Smucker Co. | 537,630 | |||
5,388 | John B Sanfilippo & Son, Inc. | 406,148 | |||
18,075 | Kellogg Co. | 1,167,464 | |||
13,953 | Lamb Weston Holdings, Inc. | 924,665 | |||
4,866 | McCormick & Co., Inc., | 944,491 | |||
38,310 | Mondelez International, Inc. | 2,200,910 | |||
Shares | Value | ||||
Food Products - (continued) | |||||
6,516 | Nestle S.A. (A.D.R.) | $ 777,066 | |||
Total Food Products | $8,478,744 | ||||
Health Care Equipment & Supplies - 4.0% | |||||
22,712 | Abbott Laboratories | $2,471,747 | |||
2,759 | Becton Dickinson and Co. | 641,964 | |||
23,096 | Smith & Nephew Plc (A.D.R.) | 903,054 | |||
Total Health Care Equipment & Supplies | $4,016,765 | ||||
Health Care Providers & Services - 3.9% | |||||
8,602 | AmerisourceBergen Corp. | $ 833,706 | |||
2,106 | Anthem, Inc. | 565,650 | |||
10,825 | CVS Health Corp. | 632,180 | |||
2,247 | Humana, Inc. | 930,011 | |||
8,487 | Quest Diagnostics, Inc. | 971,677 | |||
Total Health Care Providers & Services | $3,933,224 | ||||
Hotels, Restaurants & Leisure - 0.6% | |||||
20,941 | Cedar Fair LP | $ 587,814 | |||
Total Hotels, Restaurants & Leisure | $ 587,814 | ||||
Household Products - 1.4% | |||||
6,498 | Clorox Co. | $1,365,685 | |||
Total Household Products | $1,365,685 | ||||
Industrial Conglomerates - 1.1% | |||||
6,686 | Honeywell International, Inc. | $1,100,582 | |||
Total Industrial Conglomerates | $1,100,582 | ||||
Information Technology - 0.3% | |||||
2,576 | CDW Corp. | $ 307,909 | |||
Total Information Technology | $ 307,909 | ||||
Insurance - 6.2% | |||||
12,695 | Chubb, Ltd. | $1,474,143 | |||
9,606 | First American Financial Corp. | 489,041 | |||
21,947 | Lincoln National Corp. | 687,600 | |||
17,830 | Progressive Corp. | 1,687,966 | |||
45,076 | Sun Life Financial, Inc. | 1,835,945 | |||
Total Insurance | $6,174,695 | ||||
IT Services - 2.6% | |||||
2,185 | Accenture Plc | $ 493,788 | |||
2,788 | Automatic Data Processing, Inc. | 388,898 | |||
3,419 | Fidelity National Information Services, Inc. | 503,311 | |||
9,029 | Leidos Holdings, Inc. | 804,935 | |||
5,644 | Paychex, Inc. | 450,222 | |||
Total IT Services | $2,641,154 | ||||
Machinery - 5.5% | |||||
5,271 | Caterpillar, Inc. | $ 786,170 | |||
60,686 | Gorman-Rupp Co. | 1,787,809 | |||
21,184 | Komatsu, Ltd. (A.D.R.) | 466,048 | |||
20,537 | PACCAR, Inc. | 1,751,395 | |||
11,477 | Timken Co. | 622,283 | |||
Total Machinery | $5,413,705 | ||||
Media - 0.8% | |||||
17,197 | Comcast Corp. | $ 795,533 | |||
Total Media | $ 795,533 | ||||
Metals & Mining - 4.1% | |||||
12,842 | Kaiser Aluminum Corp. | $ 688,203 | |||
14,427 | Materion Corp. | 750,637 | |||
24,798 | Nucor Corp. | 1,112,438 | |||
15,824 | Reliance Steel & Aluminum Co. | 1,614,681 | |||
Total Metals & Mining | $4,165,959 | ||||
Multiline Retail - 2.0% | |||||
12,463 | Target Corp. | $1,961,925 | |||
Total Multiline Retail | $1,961,925 | ||||
Multi-Utilities - 3.8% | |||||
13,617 | Ameren Corp. | $1,076,833 | |||
12,023 | CMS Energy Corp. | 738,332 | |||
21,089 | WEC Energy Group, Inc. | 2,043,524 | |||
Total Multi-Utilities | $3,858,689 | ||||
Oil, Gas & Consumable Fuels - 2.9% | |||||
5,174 | Chevron Corp. | $ 372,528 | |||
16,822 | ConocoPhillips | 552,434 | |||
10,786 | Exxon Mobil Corp. | 370,283 | |||
17,584 | Phillips 66 | 911,555 | |||
16,078 | Valero Energy Corp. | 696,499 | |||
Total Oil, Gas & Consumable Fuels | $2,903,299 | ||||
Pharmaceuticals - 8.0% | |||||
47,373 | AstraZeneca Plc (A.D.R.) | $2,596,041 | |||
13,704 | Eli Lilly & Co. | 2,028,466 | |||
22,339 | Merck & Co., Inc. | 1,853,020 | |||
22,162 | Novo Nordisk AS (A.D.R.) | 1,538,708 | |||
Total Pharmaceuticals | $8,016,235 | ||||
Shares | Value | ||||
Semiconductors & Semiconductor Equipment - 5.1% | |||||
8,754 | Analog Devices, Inc. | $1,021,942 | |||
4,110 | Cabot Microelectronics Corp. | 586,949 | |||
10,118 | KLA-Tencor Corp. | 1,960,262 | |||
10,733 | Texas Instruments, Inc. | 1,532,565 | |||
Total Semiconductors & Semiconductor Equipment | $5,101,718 | ||||
Specialty Retail - 1.1% | |||||
2,046 | Home Depot, Inc. | $ 568,195 | |||
9,607 | TJX Cos., Inc. | 534,630 | |||
Total Specialty Retail | $1,102,825 | ||||
Textiles, Apparel & Luxury Goods - 2.2% | |||||
12,640 | Carter's, Inc. | $1,094,371 | |||
15,545 | VF Corp. | 1,092,036 | |||
Total Textiles, Apparel & Luxury Goods | $2,186,407 | ||||
Trading Companies & Distributors - 1.9% | |||||
23,586 | Fastenal Co. | $1,063,493 | |||
80,520 | Ferguson Plc (A.D.R.) | 812,447 | |||
Total Trading Companies & Distributors | $1,875,940 | ||||
Water Utilities - 0.4% | |||||
2,814 | American Water Works Co., Inc. | $ 407,692 | |||
Total Water Utilities | $ 407,692 | ||||
TOTAL COMMON STOCKS | |||||
(Cost $76,835,376) | $98,648,327 | ||||
TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS - 98.8% | |||||
(Cost $76,835,376) | $98,648,327 | ||||
OTHER ASSETS AND LIABILITIES - 1.2% | $1,235,405 | ||||
NET ASSETS - 100.0% | $99,883,732 |
REIT | Real Estate Investment Trust. |
(A.D.R.) | American Depositary Receipts. |
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 September 30, 2020, in valuing the Portfolio's investments: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks | $ | 98,648,327 | $ | – | $ | – | $ | 98,648,327 | ||||||||
Total Investments in Securities | $ | 98,648,327 | $ | – | $ | – | $ | 98,648,327 |
For the nine months ended September 30, 2020, there were no transfers between Levels 1, 2 and 3.