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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 />

3,262,000 USD<br />

5,650,000 USD<br />

4,550,000 USD<br />

2,850,000 USD<br />

4,417,000 USD<br />

3,460,000 USD<br />

4,006,000 USD<br />

Description of Securities<br />

SunPower Corp 4.75% CV 15/Apr/2014<br />

Vi<strong>as</strong>ystems Inc - 144A - 7.875% 01/May/2019<br />

Vishay Intertechnology Inc - 144A - 2.25% CV 01/Jun/2042<br />

Vishay Intertechnology Inc 2.25% CV 15/May/2041<br />

WESCO Distribution Inc 7.5% 15/Oct/2017<br />

WESCO International Inc 6% CV 15/Sep/2029<br />

WireCo WorldGroup Inc Floating 15/May/2017<br />

Market Value<br />

2,331,944<br />

4,199,788<br />

3,436,054<br />

1,661,815<br />

3,394,497<br />

6,313,305<br />

3,220,843<br />

Net Assets %<br />

0.25%<br />

0.46%<br />

0.37%<br />

0.18%<br />

0.37%<br />

0.70%<br />

0.35%<br />

1,295,000<br />

789,000<br />

2,774,895<br />

300,000<br />

2,600,000<br />

1,900,000<br />

5,620,000<br />

4,515,000<br />

2,180,000<br />

1,725,000<br />

1,050,000<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

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

AEP Industries Inc 8.25% 15/Apr/2019<br />

American Railcar Industries Inc 7.5% 01/Mar/2014<br />

ARD Finance SA 11.125% 01/Jun/2018<br />

Ardagh Packaging Finance PLC / Ardagh MP Holdings USA Inc 7.375% 15/Oct/2017<br />

Ardagh Packaging Finance PLC 9.125% 15/Oct/2020<br />

Boart Longyear Managem<strong>en</strong>t Pty Ltd 7% 01/Apr/2021<br />

Crown Cork & Seal Co Inc 7.375% 15/Dec/2026<br />

JB Poindexter & Co Inc 9% 01/Apr/2022<br />

Packaging Dynamics Corp 8.75% 01/Feb/2016<br />

Park-Ohio Industries Inc 8.125% 01/Apr/2021<br />

Pretium Packaging LLC / Pretium Finance Inc 11.5% 01/Apr/2016<br />

1,051,009<br />

602,941<br />

2,231,029<br />

248,312<br />

2,149,575<br />

1,462,758<br />

4,667,703<br />

3,557,309<br />

1,727,928<br />

1,390,179<br />

821,308<br />

0.11%<br />

0.07%<br />

0.24%<br />

0.03%<br />

0.23%<br />

0.16%<br />

0.51%<br />

0.39%<br />

0.19%<br />

0.15%<br />

0.09%<br />

740,000<br />

2,295,000<br />

990,000<br />

1,800,000<br />

9,105,000<br />

3,540,000<br />

1,450,000<br />

1,820,000<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

Industrial Engineering<br />

Altra Holdings Inc 2.75% CV 01/Mar/2031<br />

Cleaver-Brooks Inc 8.75% 15/Dec/2019<br />

Liberty Tire Recycling 11% 01/Oct/2016<br />

Mcron Finance Sub LLC / Mcron Finance Corp - 144A - 8.375% 15/May/2019<br />

Navistar International Corp 3% CV 15/Oct/2014<br />

Navistar International Corp 8.25% 01/Nov/2021<br />

Terex Corp 6% 15/May/2021<br />

Thermadyne Holdings Corp 9% 15/Dec/2017<br />

607,593<br />

1,797,321<br />

694,592<br />

1,399,424<br />

6,310,446<br />

2,591,095<br />

1,157,558<br />

1,470,191<br />

0.07%<br />

0.20%<br />

0.08%<br />

0.15%<br />

0.70%<br />

0.28%<br />

0.13%<br />

0.16%<br />

750,000<br />

2,850,000<br />

2,340,000<br />

2,070,000<br />

1,125,000<br />

3,105,000<br />

1,871,000<br />

1,056,533<br />

1,350,000<br />

5,965,000<br />

1,675,000<br />

3,600,000<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 />

Industrial Transportation<br />

Aguila 3 SA - 144A - 7.875% 31/Jan/2018<br />

Aviation Capital Group Corp 6.75% 06/Apr/2021<br />

Bristow Group Inc 6.25% 15/Oct/2022<br />

CEVA Group PLC 11.5% 01/Apr/2018<br />

CEVA Group PLC 11.625% 01/Oct/2016<br />

CEVA Group PLC 8.375% 01/Dec/2017<br />

DryShips Inc 5% CV 01/Dec/2014<br />

Florida E<strong>as</strong>t Co<strong>as</strong>t Holdings Corp 10.5% 01/Aug/2017<br />

Florida E<strong>as</strong>t Co<strong>as</strong>t Railway Corp 8.125% 01/Feb/2017<br />

Gre<strong>en</strong>brier Cos Inc 3.5% CV 01/Apr/2018<br />

Navios South American Logistics Inc / Navios Logistics Finance US Inc 9.25% 15/Apr/2019<br />

Syncreon Global Ireland Ltd 9.5% 01/May/2018<br />

603,004<br />

2,238,084<br />

1,899,120<br />

1,311,021<br />

876,773<br />

2,319,801<br />

1,129,107<br />

793,361<br />

1,085,407<br />

4,088,948<br />

1,246,658<br />

2,839,806<br />

0.07%<br />

0.24%<br />

0.21%<br />

0.14%<br />

0.10%<br />

0.25%<br />

0.12%<br />

0.09%<br />

0.12%<br />

0.45%<br />

0.14%<br />

0.31%<br />

723,000<br />

123<br />

1,800,000<br />

1,080,000<br />

2,750,000<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

Support Services<br />

Brickman Group Holdings Inc 9.125% 01/Nov/2018<br />

Catal<strong>en</strong>t Pharma Solutions Inc 9.5% 15/Apr/2015<br />

Clean Harbors Inc 5.25% 01/Aug/2020<br />

Iron Mountain Inc 5.75% 15/Aug/2024<br />

Live Nation Entertainm<strong>en</strong>t Inc 7% 01/Sep/2020<br />

574,441<br />

95<br />

1,423,316<br />

829,414<br />

2,177,118<br />

0.06%<br />

0.00%<br />

0.16%<br />

0.09%<br />

0.24%<br />

910,000<br />

2,700,000<br />

USD<br />

USD<br />

Oil and G<strong>as</strong><br />

Alternative Energy<br />

JinkoSolar Holding Co Ltd 4% CV 15/May/2016<br />

R<strong>en</strong>eSola Ltd 4.125% CV 15/Mar/2018<br />

290,328<br />

1,052,128<br />

0.03%<br />

0.11%<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 />

Pioneer Funds - Annual Report 305

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