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Pioneer Funds - U.S. High Yield<br />

Schedule of Investm<strong>en</strong>ts <strong>as</strong> at 31 December 2012 (expressed in EUR) (continued)<br />

Holding Curr<strong>en</strong>cy<br />

1,700,000 USD<br />

1,355,000 USD<br />

1,780,000 USD<br />

2,012,000 USD<br />

4,950,000 USD<br />

Description of Securities<br />

Reynolds Group Issuer Inc 8.25% 15/Feb/2021<br />

Reynolds Group Issuer Inc 8.5% 15/May/2018<br />

Wolverine World Wide Inc 6.125% 15/Oct/2020<br />

Yankee Candle Co Inc 9.75% 15/Feb/2017<br />

YCC Holdings LLC / Yankee Finance Inc 10.25% 15/Feb/2016<br />

Market Value<br />

1,308,783<br />

1,053,455<br />

1,417,627<br />

1,589,059<br />

3,876,949<br />

Net Assets %<br />

0.14%<br />

0.11%<br />

0.15%<br />

0.17%<br />

0.42%<br />

5,307,000<br />

7,138,000<br />

USD<br />

USD<br />

Tobacco<br />

Alliance One International Inc 10% 15/Jul/2016<br />

Alliance One International Inc 5.5% CV 15/Jul/2014<br />

4,236,664<br />

5,268,633<br />

0.46%<br />

0.57%<br />

3,900,000<br />

925,000<br />

3,425,000<br />

1,550,000<br />

4,125,000<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

Consumer Services<br />

G<strong>en</strong>eral Retailers<br />

Brown Shoe Co Inc 7.125% 15/May/2019<br />

Monitronics International Inc 9.125% 01/Apr/2020<br />

Petco Holdings Inc 8.5% 15/Oct/2017<br />

Radio Systems Corp 8.375% 01/Nov/2019<br />

Sotheby’s 5.25% 01/Oct/2022<br />

3,076,456<br />

722,656<br />

2,669,287<br />

1,225,633<br />

3,160,080<br />

0.34%<br />

0.08%<br />

0.29%<br />

0.13%<br />

0.34%<br />

1,340,000<br />

1,175,000<br />

1,200,000<br />

3,620,000<br />

490,000<br />

1,775,000<br />

5,000,000<br />

1,375,000<br />

2,135,000<br />

6,620,000<br />

925,000<br />

2,835,000<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

Media<br />

Cambium Learning Group Inc 9.75% 15/Feb/2017<br />

Cumulus Media Holdings Inc 7.75% 01/May/2019<br />

Good Sam Enterprises LLC 11.5% 01/Dec/2016<br />

MDC Partners Inc 11% 01/Nov/2016 - Issue 23/Oct/2009<br />

MPL 2 Acquisition Canco Inc 9.875% 15/Aug/2018<br />

Production Resource Group Inc 8.875% 01/May/2019<br />

Quebecor Media Inc 5.75% 15/Jan/2023<br />

Sitel LLC / Sitel Finance Corp 11.5% 01/Apr/2018<br />

Townsquare Radio LLC / Townsquare Radio Inc - 144A - 9% 01/Apr/2019<br />

Univision Communications Inc 6.875% 15/May/2019<br />

Univision Communications Inc 8.5% 15/May/2021<br />

WMG Acquisition Corp 6% 15/Jan/2021<br />

843,598<br />

875,635<br />

978,459<br />

3,016,895<br />

347,505<br />

989,552<br />

3,996,321<br />

735,266<br />

1,785,374<br />

5,247,194<br />

724,410<br />

2,279,354<br />

0.09%<br />

0.10%<br />

0.11%<br />

0.33%<br />

0.04%<br />

0.11%<br />

0.44%<br />

0.08%<br />

0.19%<br />

0.57%<br />

0.08%<br />

0.25%<br />

4,060,000<br />

4,360,000<br />

1,050,000<br />

1,260,000<br />

1,950,000<br />

500,000<br />

800,000<br />

1,000,000<br />

500,000<br />

12,500,000<br />

2,970,000<br />

1,600,000<br />

1,794,000<br />

505,000<br />

1,680,000<br />

3,630,000<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

Travel, Leisure and Catering<br />

AMC Entertainm<strong>en</strong>t Inc 9.75% 01/Dec/2020<br />

Burger King Capital Holdings LLC / Burger King Capital Finance Inc Floating 15/Apr/2019<br />

Burger King Corp 9.875% 15/Oct/2018<br />

Contin<strong>en</strong>tal Airlines Inc 4.5% CV 15/Jan/2015<br />

Contin<strong>en</strong>tal Airlines 1997-4 Cl<strong>as</strong>s B P<strong>as</strong>s Through Trust - B - 6.9% 02/Jan/2017<br />

Contin<strong>en</strong>tal Airlines 2001-1 Cl<strong>as</strong>s B P<strong>as</strong>s Through Trust 7.373% 15/Dec/2015<br />

Contin<strong>en</strong>tal Airlines 2012-1 Cl<strong>as</strong>s B P<strong>as</strong>s Thru Trusts 6.25% 11/Apr/2020<br />

Contin<strong>en</strong>tal Airlines 2012-2 Cl<strong>as</strong>s B P<strong>as</strong>s Thru Certificates 5.5% 29/Oct/2020<br />

Contin<strong>en</strong>tal Airlines 2012-3 Cl<strong>as</strong>s C P<strong>as</strong>s Thru Certificates 6.125% 29/Apr/2018<br />

Delta Air Lines 2010-2 Cl<strong>as</strong>s B P<strong>as</strong>s Through Trust 6.75% 23/Nov/2015<br />

H&E Equipm<strong>en</strong>t Services Inc 7% 01/Sep/2022<br />

MGM Resorts International 6.75% 01/Oct/2020<br />

Sci<strong>en</strong>tific Games International Inc 9.25% 15/Jun/2019<br />

Shingle Springs Tribal Gaming Authority 9.375% 15/Jun/2015<br />

Viking Cruises Ltd 8.5% 15/Oct/2022<br />

Wynn L<strong>as</strong> Veg<strong>as</strong> LLC / Wynn L<strong>as</strong> Veg<strong>as</strong> Capital Corp 5.375% 15/Mar/2022<br />

3,556,811<br />

2,786,180<br />

911,901<br />

1,368,448<br />

297,787<br />

79,799<br />

643,204<br />

790,731<br />

382,092<br />

9,860,436<br />

2,399,158<br />

1,239,381<br />

1,513,824<br />

373,464<br />

1,376,214<br />

2,925,421<br />

0.39%<br />

0.30%<br />

0.10%<br />

0.15%<br />

0.03%<br />

0.01%<br />

0.07%<br />

0.09%<br />

0.04%<br />

1.09%<br />

0.26%<br />

0.14%<br />

0.17%<br />

0.04%<br />

0.15%<br />

0.32%<br />

2,500,000<br />

4,035,000<br />

EUR<br />

USD<br />

Financials<br />

<strong>Bank</strong>s<br />

Cooperatieve C<strong>en</strong>trale Raiffeis<strong>en</strong>-Boer<strong>en</strong>le<strong>en</strong>bank BA/Netherlands 6.875% 19/Mar/2020<br />

PNC Financial Services Group Inc Floating Perpetual<br />

2,784,375<br />

3,490,523<br />

0.30%<br />

0.38%<br />

850,000<br />

3,845,000<br />

USD<br />

USD<br />

Financial Services<br />

Airc<strong>as</strong>tle Ltd 7.625% 15/Apr/2020<br />

Apollo Investm<strong>en</strong>t Corp 5.75% CV 15/Jan/2016<br />

720,476<br />

3,029,425<br />

0.08%<br />

0.33%<br />

The accompanying notes form an integral part of these financial statem<strong>en</strong>ts.<br />

Any differ<strong>en</strong>ces in the perc<strong>en</strong>tage of net <strong>as</strong>sets are the results of roundings.<br />

302 Pioneer Funds - Annual Report

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