Pioneer Variable Contracts Trust
Pioneer Fund
VCT Portfolio
Class I and II Shares
Schedule of Investments | March 31, 2024
| Pioneer Fund VCT Portfolio | Pioneer Variable Contracts Trust |
Schedule of Investments 3/31/24 (unaudited)
| Shares | Value | |||||
| UNAFFILIATED ISSUERS — 100.0% | ||||||
| Common Stocks — 99.4% of Net Assets | ||||||
| Aerospace & Defense — 0.8% | ||||||
| 11,604 | RTX Corp. | $ 1,131,738 | ||||
| Total Aerospace & Defense | $1,131,738 | |||||
| Banks — 9.9% | ||||||
| 148,797 | Citizens Financial Group, Inc. | $ 5,399,843 | ||||
| 132,582 | Truist Financial Corp. | 5,168,046 | ||||
| 81,271 | US Bancorp | 3,632,814 | ||||
| Total Banks | $14,200,703 | |||||
| Biotechnology — 5.5% | ||||||
| 3,668(a) | Regeneron Pharmaceuticals, Inc. | $ 3,530,413 | ||||
| 10,486(a) | Vertex Pharmaceuticals, Inc. | 4,383,253 | ||||
| Total Biotechnology | $7,913,666 | |||||
| Broadline Retail — 4.0% | ||||||
| 31,976(a) | Amazon.com, Inc. | $ 5,767,831 | ||||
| Total Broadline Retail | $5,767,831 | |||||
| Capital Markets — 4.0% | ||||||
| 13,075 | CME Group, Inc. | $ 2,814,917 | ||||
| 6,846 | Goldman Sachs Group, Inc. | 2,859,505 | ||||
| Total Capital Markets | $5,674,422 | |||||
| Chemicals — 0.4% | ||||||
| 2,568 | Air Products and Chemicals, Inc. | $ 622,149 | ||||
| Total Chemicals | $622,149 | |||||
| Commercial Services & Supplies — 1.2% | ||||||
| 18,810 | Veralto Corp. | $ 1,667,695 | ||||
| Total Commercial Services & Supplies | $1,667,695 | |||||
| Communications Equipment — 2.0% | ||||||
| 9,737(a) | Arista Networks, Inc. | $ 2,823,536 | ||||
| Total Communications Equipment | $2,823,536 | |||||
| Construction Materials — 6.3% | ||||||
| 12,594 | Martin Marietta Materials, Inc. | $ 7,731,961 | ||||
| 4,597 | Vulcan Materials Co. | 1,254,613 | ||||
| Total Construction Materials | $8,986,574 | |||||
| Consumer Staples Distribution & Retail — 3.8% | ||||||
| 51,878(a) | BJ's Wholesale Club Holdings, Inc. | $ 3,924,571 | ||||
| 2,145 | Costco Wholesale Corp. | 1,571,491 | ||||
| Total Consumer Staples Distribution & Retail | $5,496,062 | |||||
| Electrical Equipment — 1.5% | ||||||
| 29,399 | ABB, Ltd. (A.D.R.) | $ 1,362,938 | ||||
| 2,752 | Rockwell Automation, Inc. | 801,740 | ||||
| Total Electrical Equipment | $2,164,678 | |||||
| Entertainment — 2.9% | ||||||
| 18,527 | Electronic Arts, Inc. | $ 2,457,977 | ||||
| 16,758(a) | Live Nation Entertainment, Inc. | 1,772,494 | ||||
| Total Entertainment | $4,230,471 | |||||
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| Pioneer Fund VCT Portfolio | Pioneer Variable Contracts Trust |
| Shares | Value | |||||
| Financial Services — 2.5% | ||||||
| 12,719 | Visa, Inc., Class A | $ 3,549,619 | ||||
| Total Financial Services | $3,549,619 | |||||
| Ground Transportation — 0.9% | ||||||
| 16,568(a) | Uber Technologies, Inc. | $ 1,275,570 | ||||
| Total Ground Transportation | $1,275,570 | |||||
| Hotels, Restaurants & Leisure — 1.7% | ||||||
| 39,594(a) | Planet Fitness, Inc., Class A | $ 2,479,772 | ||||
| Total Hotels, Restaurants & Leisure | $2,479,772 | |||||
| Interactive Media & Services — 5.2% | ||||||
| 49,908(a) | Alphabet, Inc., Class A | $ 7,532,614 | ||||
| Total Interactive Media & Services | $7,532,614 | |||||
| IT Services — 4.6% | ||||||
| 6,455 | Accenture Plc, Class A | $ 2,237,368 | ||||
| 13,333(a) | Akamai Technologies, Inc. | 1,450,097 | ||||
| 15,320 | International Business Machines Corp. | 2,925,507 | ||||
| Total IT Services | $6,612,972 | |||||
| Life Sciences Tools & Services — 1.3% | ||||||
| 7,611 | Danaher Corp. | $ 1,900,619 | ||||
| Total Life Sciences Tools & Services | $1,900,619 | |||||
| Machinery — 3.0% | ||||||
| 11,606 | Caterpillar, Inc. | $ 4,252,787 | ||||
| Total Machinery | $4,252,787 | |||||
| Metals & Mining — 6.8% | ||||||
| 116,893 | Freeport-McMoRan, Inc. | $ 5,496,309 | ||||
| 92,351 | Teck Resources, Ltd., Class B | 4,227,829 | ||||
| Total Metals & Mining | $9,724,138 | |||||
| Oil, Gas & Consumable Fuels — 4.0% | ||||||
| 36,591 | Chevron Corp. | $ 5,771,864 | ||||
| Total Oil, Gas & Consumable Fuels | $5,771,864 | |||||
| Pharmaceuticals — 2.7% | ||||||
| 1,854 | Eli Lilly & Co. | $ 1,442,338 | ||||
| 19,451 | Novo Nordisk AS (A.D.R.) | 2,497,508 | ||||
| Total Pharmaceuticals | $3,939,846 | |||||
| Semiconductors & Semiconductor Equipment — 10.4% | ||||||
| 11,168(a) | Advanced Micro Devices, Inc. | $ 2,015,712 | ||||
| 4,145 | KLA Corp. | 2,895,573 | ||||
| 1,920 | Lam Research Corp. | 1,865,414 | ||||
| 8,968 | NVIDIA Corp. | 8,103,126 | ||||
| Total Semiconductors & Semiconductor Equipment | $14,879,825 | |||||
| Software — 7.0% | ||||||
| 22,560 | Microsoft Corp. | $ 9,491,443 | ||||
| 1,833(a) | Palo Alto Networks, Inc. | 520,811 | ||||
| Total Software | $10,012,254 | |||||
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| Pioneer Fund VCT Portfolio | Pioneer Variable Contracts Trust |
Schedule of Investments 3/31/24 (unaudited) (continued)
| Shares | Value | |||||
| Specialty Retail — 1.9% | ||||||
| 7,100 | Home Depot, Inc. | $ 2,723,560 | ||||
| Total Specialty Retail | $2,723,560 | |||||
| Technology Hardware, Storage & Peripherals — 4.4% | ||||||
| 36,602 | Apple, Inc. | $ 6,276,511 | ||||
| Total Technology Hardware, Storage & Peripherals | $6,276,511 | |||||
| Textiles, Apparel & Luxury Goods — 0.7% | ||||||
| 5,931 | LVMH Moet Hennessy Louis Vuitton SE (A.D.R.) | $ 1,073,689 | ||||
| Total Textiles, Apparel & Luxury Goods | $1,073,689 | |||||
| Total Common Stocks (Cost $87,841,300) | $142,685,165 | |||||
| SHORT TERM INVESTMENTS — 0.6% of Net Assets | ||||||
| Open-End Fund — 0.6% | ||||||
| 905,244(b) | Dreyfus Government Cash Management, Institutional Shares, 5.20% | $ 905,244 | ||||
| $905,244 | ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $905,244) | $905,244 | |||||
| TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 100.0% (Cost $88,746,544) | $143,590,409 | |||||
| OTHER ASSETS AND LIABILITIES — (0.0)%† | $(54,353) | |||||
| net assets — 100.0% | $143,536,056 | |||||
| (A.D.R.) | American Depositary Receipts. |
| (a) | Non-income producing security. |
| (b) | Rate periodically changes. Rate disclosed is the 7-day yield at March 31, 2024. |
| † | Amount rounds to less than 0.1%. |
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 | $142,685,165 | $— | $— | $142,685,165 |
| Open-End Fund | 905,244 | — | — | 905,244 |
| Total Investments in Securities | $143,590,409 | $— | $— | $143,590,409 |
During the period ended March 31, 2024, there were no transfers in or out of Level 3.
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