Pioneer Variable Contracts Trust
Pioneer Mid Cap Value
VCT Portfolio
Class I and II Shares
Schedule of Investments | March 31, 2024
Pioneer Mid Cap Value VCT Portfolio | Pioneer Variable Contracts Trust |
Schedule of Investments 3/31/24 (unaudited)
Shares | Value | |||||
UNAFFILIATED ISSUERS — 99.8% | ||||||
Common Stocks — 98.4% of Net Assets | ||||||
Automobile Components — 0.9% | ||||||
7,168 | Lear Corp. | $ 1,038,500 | ||||
Total Automobile Components | $1,038,500 | |||||
Automobiles — 1.1% | ||||||
97,528 | Ford Motor Co. | $ 1,295,172 | ||||
Total Automobiles | $1,295,172 | |||||
Banks — 8.8% | ||||||
46,258 | Citizens Financial Group, Inc. | $ 1,678,703 | ||||
19,330 | M&T Bank Corp. | 2,811,355 | ||||
129,810 | Regions Financial Corp. | 2,731,202 | ||||
73,514 | Truist Financial Corp. | 2,865,576 | ||||
Total Banks | $10,086,836 | |||||
Beverages — 1.0% | ||||||
17,824 | Molson Coors Beverage Co., Class B | $ 1,198,664 | ||||
Total Beverages | $1,198,664 | |||||
Broadline Retail — 3.0% | ||||||
64,459 | eBay, Inc. | $ 3,402,146 | ||||
Total Broadline Retail | $3,402,146 | |||||
Building Products — 1.1% | ||||||
4,220 | Trane Technologies Plc | $ 1,266,844 | ||||
Total Building Products | $1,266,844 | |||||
Capital Markets — 7.4% | ||||||
25,255 | Northern Trust Corp. | $ 2,245,675 | ||||
18,929 | Raymond James Financial, Inc. | 2,430,862 | ||||
49,354 | State Street Corp. | 3,816,051 | ||||
Total Capital Markets | $8,492,588 | |||||
Chemicals — 3.9% | ||||||
42,314 | Dow, Inc. | $ 2,451,250 | ||||
20,245 | LyondellBasell Industries NV, Class A | 2,070,659 | ||||
Total Chemicals | $4,521,909 | |||||
Commercial Services & Supplies — 1.5% | ||||||
18,391 | Brink's Co. | $ 1,698,961 | ||||
Total Commercial Services & Supplies | $1,698,961 | |||||
Communications Equipment — 2.1% | ||||||
6,671 | Motorola Solutions, Inc. | $ 2,368,072 | ||||
Total Communications Equipment | $2,368,072 | |||||
Consumer Staples Distribution & Retail — 1.0% | ||||||
53,469 | Walgreens Boots Alliance, Inc. | $ 1,159,743 | ||||
Total Consumer Staples Distribution & Retail | $1,159,743 | |||||
Containers & Packaging — 1.8% | ||||||
71,626 | Graphic Packaging Holding Co. | $ 2,090,047 | ||||
Total Containers & Packaging | $2,090,047 |
1
Pioneer Mid Cap Value VCT Portfolio | Pioneer Variable Contracts Trust |
Shares | Value | |||||
Electric Utilities — 1.9% | ||||||
13,576 | Eversource Energy | $ 811,438 | ||||
35,118 | Exelon Corp. | 1,319,383 | ||||
Total Electric Utilities | $2,130,821 | |||||
Electrical Equipment — 2.5% | ||||||
24,816 | Emerson Electric Co. | $ 2,814,631 | ||||
Total Electrical Equipment | $2,814,631 | |||||
Electronic Equipment, Instruments & Components — 1.6% | ||||||
7,318 | CDW Corp. | $ 1,871,797 | ||||
Total Electronic Equipment, Instruments & Components | $1,871,797 | |||||
Entertainment — 1.0% | ||||||
125,593(a) | Warner Bros Discovery, Inc. | $ 1,096,427 | ||||
Total Entertainment | $1,096,427 | |||||
Financial Services — 0.8% | ||||||
13,382(a) | PayPal Holdings, Inc. | $ 896,460 | ||||
Total Financial Services | $896,460 | |||||
Food Products — 2.0% | ||||||
40,294 | Kellanova | $ 2,308,443 | ||||
Total Food Products | $2,308,443 | |||||
Ground Transportation — 1.3% | ||||||
7,221 | JB Hunt Transport Services, Inc. | $ 1,438,784 | ||||
Total Ground Transportation | $1,438,784 | |||||
Health Care Equipment & Supplies — 6.5% | ||||||
42,238 | Dentsply Sirona, Inc. | $ 1,401,879 | ||||
27,717 | GE HealthCare Technologies, Inc. | 2,519,752 | ||||
26,618 | Zimmer Biomet Holdings, Inc. | 3,513,044 | ||||
Total Health Care Equipment & Supplies | $7,434,675 | |||||
Health Care Providers & Services — 1.3% | ||||||
13,396 | Cardinal Health, Inc. | $ 1,499,012 | ||||
Total Health Care Providers & Services | $1,499,012 | |||||
Health Care REITs — 0.5% | ||||||
31,741 | Healthpeak Properties, Inc. | $ 595,144 | ||||
Total Health Care REITs | $595,144 | |||||
Hotel & Resort REITs — 0.9% | ||||||
50,929 | Host Hotels & Resorts, Inc. | $ 1,053,212 | ||||
Total Hotel & Resort REITs | $1,053,212 | |||||
Hotels, Restaurants & Leisure — 1.4% | ||||||
11,300(a) | Expedia Group, Inc. | $ 1,556,575 | ||||
Total Hotels, Restaurants & Leisure | $1,556,575 | |||||
Industrial REITs — 0.9% | ||||||
18,833 | First Industrial Realty Trust, Inc. | $ 989,486 | ||||
Total Industrial REITs | $989,486 | |||||
Insurance — 4.3% | ||||||
35,627 | American International Group, Inc. | $ 2,784,962 |
2
Pioneer Mid Cap Value VCT Portfolio | Pioneer Variable Contracts Trust |
Schedule of Investments 3/31/24 (unaudited) (continued)
Shares | Value | |||||
Insurance — (continued) | ||||||
20,615(a) | Brighthouse Financial, Inc. | $ 1,062,497 | ||||
35,776 | Old Republic International Corp. | 1,099,039 | ||||
Total Insurance | $4,946,498 | |||||
Machinery — 6.7% | ||||||
17,012 | AGCO Corp. | $ 2,092,816 | ||||
3,533 | Dover Corp. | 626,012 | ||||
22,957 | Ingersoll Rand, Inc. | 2,179,767 | ||||
11,886 | PACCAR, Inc. | 1,472,557 | ||||
12,921 | Stanley Black & Decker, Inc. | 1,265,354 | ||||
Total Machinery | $7,636,506 | |||||
Media — 1.7% | ||||||
63,075 | Fox Corp., Class A | $ 1,972,355 | ||||
Total Media | $1,972,355 | |||||
Metals & Mining — 1.5% | ||||||
34,561(a) | Cleveland-Cliffs, Inc. | $ 785,917 | ||||
25,635 | Newmont Corp. | 918,758 | ||||
Total Metals & Mining | $1,704,675 | |||||
Multi-Utilities — 4.1% | ||||||
69,931 | CenterPoint Energy, Inc. | $ 1,992,334 | ||||
39,977 | Public Service Enterprise Group, Inc. | 2,669,664 | ||||
Total Multi-Utilities | $4,661,998 | |||||
Oil, Gas & Consumable Fuels — 8.2% | ||||||
35,853 | APA Corp. | $ 1,232,626 | ||||
16,095 | Chord Energy Corp. | 2,868,773 | ||||
131,044 | Coterra Energy, Inc. | 3,653,507 | ||||
46,000 | Range Resources Corp. | 1,583,780 | ||||
Total Oil, Gas & Consumable Fuels | $9,338,686 | |||||
Passenger Airlines — 0.7% | ||||||
17,604 | Delta Air Lines, Inc. | $ 842,703 | ||||
Total Passenger Airlines | $842,703 | |||||
Personal Care Products — 1.1% | ||||||
58,457 | Kenvue, Inc. | $ 1,254,487 | ||||
Total Personal Care Products | $1,254,487 | |||||
Residential REITs — 1.4% | ||||||
8,528 | AvalonBay Communities, Inc. | $ 1,582,456 | ||||
Total Residential REITs | $1,582,456 | |||||
Retail REITs — 0.9% | ||||||
55,723 | Kimco Realty Corp. | $ 1,092,728 | ||||
Total Retail REITs | $1,092,728 | |||||
Semiconductors & Semiconductor Equipment — 2.0% | ||||||
17,582 | MKS Instruments, Inc. | $ 2,338,406 | ||||
Total Semiconductors & Semiconductor Equipment | $2,338,406 |
3
Pioneer Mid Cap Value VCT Portfolio | Pioneer Variable Contracts Trust |
Shares | Value | |||||
Specialized REITs — 2.3% | ||||||
8,651 | Extra Space Storage, Inc. | $ 1,271,697 | ||||
29,651 | Gaming and Leisure Properties, Inc. | 1,366,021 | ||||
Total Specialized REITs | $2,637,718 | |||||
Specialty Retail — 1.1% | ||||||
14,886 | Best Buy Co., Inc. | $ 1,221,099 | ||||
Total Specialty Retail | $1,221,099 | |||||
Technology Hardware, Storage & Peripherals — 2.1% | ||||||
138,699 | Hewlett Packard Enterprise Co. | $ 2,459,133 | ||||
Total Technology Hardware, Storage & Peripherals | $2,459,133 | |||||
Textiles, Apparel & Luxury Goods — 1.2% | ||||||
7,325 | Ralph Lauren Corp. | $ 1,375,342 | ||||
Total Textiles, Apparel & Luxury Goods | $1,375,342 | |||||
Trading Companies & Distributors — 2.9% | ||||||
38,536(a) | AerCap Holdings NV | $ 3,349,164 | ||||
Total Trading Companies & Distributors | $3,349,164 | |||||
Total Common Stocks (Cost $91,233,491) | $112,718,903 | |||||
SHORT TERM INVESTMENTS — 1.4% of Net Assets | ||||||
Open-End Fund — 1.4% | ||||||
1,608,541(b) | Dreyfus Government Cash Management, Institutional Shares, 5.20% | $ 1,608,541 | ||||
$1,608,541 | ||||||
TOTAL SHORT TERM INVESTMENTS (Cost $1,608,541) | $1,608,541 | |||||
TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 99.8% (Cost $92,842,032) | $114,327,444 | |||||
OTHER ASSETS AND LIABILITIES — 0.2% | $190,712 | |||||
net assets — 100.0% | $114,518,156 | |||||
REIT | Real Estate Investment Trust. |
(a) | Non-income producing security. |
(b) | Rate periodically changes. Rate disclosed is the 7-day yield at March 31, 2024. |
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 | – | unadjusted quoted prices in active markets for identical securities. |
Level 2 | – | other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
Level 3 | – | significant unobservable inputs (including the Adviser’s own assumptions in determining fair value of investments). |
The following is a summary of the inputs used as of March 31, 2024 in valuing the Portfolio’s investments:
Level 1 | Level 2 | Level 3 | Total | |
Common Stocks | $112,718,903 | $— | $— | $112,718,903 |
Open-End Fund | 1,608,541 | — | — | 1,608,541 |
Total Investments in Securities | $114,327,444 | $— | $— | $114,327,444 |
During the period ended March 31, 2024, there were no transfers in or out of Level 3.
4