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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 />

1,425,000 USD<br />

3,575,000 USD<br />

5,600,000 USD<br />

1,000,000 USD<br />

5,368,000 USD<br />

600,000 USD<br />

2,780,000 USD<br />

1,500,000 USD<br />

2,887,000 USD<br />

1,140,000 USD<br />

985,000 USD<br />

1,100,000 USD<br />

8,000,000 USD<br />

1,200,000 USD<br />

3,605,000 USD<br />

795,000 USD<br />

2,375,000 USD<br />

2,491,000 USD<br />

2,755,000 USD<br />

2,300,000 USD<br />

550,000 USD<br />

3,000,000 USD<br />

1,800,000 USD<br />

2,880,000 USD<br />

1,725,000 USD<br />

4,535,000 USD<br />

2,455,000 USD<br />

4,270,000 USD<br />

1,760,000 USD<br />

2,900,000 USD<br />

450,000 USD<br />

736,000 USD<br />

3,865,000 USD<br />

7,025,000 USD<br />

2,260,000 USD<br />

5,915,000 USD<br />

3,875,000 USD<br />

3,200,000 USD<br />

850,000 USD<br />

971,000 USD<br />

2,705,000 USD<br />

3,360,000 USD<br />

980,000 USD<br />

3,850,000 USD<br />

2,100,000 USD<br />

2,295,000 USD<br />

1,703,000 USD<br />

4,850,000 USD<br />

3,430,000 USD<br />

1,755,000 USD<br />

1,000,000 USD<br />

1,675,000 USD<br />

Description of Securities<br />

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

Antero Resources Finance Corp 7.25% 01/Aug/2019<br />

Atwood Oceanics Inc 6.5% 01/Feb/2020<br />

Berry Petroleum Co 6.375% 15/Sep/2022<br />

Carrizo Oil & G<strong>as</strong> Inc 7.5% 15/Sep/2020<br />

Carrizo Oil & G<strong>as</strong> Inc 8.625% 15/Oct/2018<br />

Chaparral Energy Inc 7.625% 15/Nov/2022<br />

Chaparral Energy Inc 8.25% 01/Sep/2021<br />

Chesapeake Energy Corp 2.25% CV 15/Dec/2038<br />

Chesapeake Energy Corp 2.5% CV 15/May/2037<br />

Chesapeake Energy Corp 2.5% CV 15/May/2037<br />

Chesapeake Energy Corp 6.775% 15/Mar/2019<br />

Cimarex Energy Co 5.875% 01/May/2022<br />

Cobalt International Energy Inc 2.625% CV 01/Dec/2019<br />

Comstock Resources Inc 8.375% 15/Oct/2017<br />

Comstock Resources Inc 9.5% 15/Jun/2020<br />

Concho Resources Inc 6.5% 15/Jan/2022<br />

Contin<strong>en</strong>tal Resources Inc/OK 5% 15/Sep/2022<br />

D<strong>en</strong>bury Resources Inc 8.25% 15/Feb/2020<br />

Drill Rigs Holdings Inc 6.5% 01/Oct/2017<br />

EP Energy LLC / EP Energy Finance Inc 9.375% 01/May/2020<br />

EP Energy LLC / Everest Acquisition Finance Inc 6.875% 01/May/2019<br />

EP Energy LLC / Everest Acquisition Finance Inc 7.75% 01/Sep/2022<br />

EPE Holdings LLC / EP Energy Bond Co Inc 8.125% 15/Dec/2017<br />

EPL Oil & G<strong>as</strong> Inc 8.25% 15/Feb/2018<br />

EV Energy Partners LP / EV Energy Finance Corp 8% 15/Apr/2019<br />

Forest Oil Corp 7.5% 15/Sep/2020<br />

Goodrich Petroleum Corp 8.875% 15/Mar/2019<br />

Gulfport Energy Corp 7.75% 01/Nov/2020<br />

Halcon Resources Corp 8.875% 15/May/2021<br />

Halcon Resources Corp 9.75% 15/Jul/2020<br />

Hercules Offshore Inc - 144A - 7.125% 01/Apr/2017<br />

Hilcorp Energy I LP / Hilcorp Finance Co 7.625% 15/Apr/2021<br />

Kodiak Oil & G<strong>as</strong> Corp 8.125% 01/Dec/2019<br />

Linn Energy LLC / Linn Energy Finance Corp 6.25% 01/Nov/2019<br />

Midstates Petroleum Co Inc / Midstates Petroleum Co LLC 10.75% 01/Oct/2020<br />

Northern Oil and G<strong>as</strong> Inc 8% 01/Jun/2020<br />

O<strong>as</strong>is Petroleum Inc 6.875% 15/Jan/2023<br />

Ocean Rig UDW Inc 9.5% 27/Apr/2016<br />

Offshore Group Investm<strong>en</strong>t Ltd 7.5% 01/Nov/2019<br />

Offshore Group Investm<strong>en</strong>ts Ltd 11.5% 01/Aug/2015<br />

PDC Energy Inc 7.75% 15/Oct/2022<br />

PetroBakk<strong>en</strong> Energy Ltd 8.625% 01/Feb/2020<br />

Petroquest Energy Inc 10% 01/Sep/2017<br />

Plains Exploration & Production Co 6.125% 15/Jun/2019<br />

QEP Resources Inc 5.25% 01/May/2023<br />

QR Energy LP / QRE Finance Corp 9.25% 01/Aug/2020<br />

Quicksilver Resources Inc 7.125% 01/Apr/2016<br />

Resolute Energy Corp - 144A - 8.5% 01/May/2020<br />

Samson Investm<strong>en</strong>t Co 9.75% 15/Feb/2020<br />

SandRidge Energy Inc 7.5% 15/Feb/2023<br />

SandRidge Energy Inc 9.875% 15/May/2016<br />

Shelf Drilling Holdings Ltd 8.625% 01/Nov/2018<br />

Market Value<br />

1,178,133<br />

2,928,550<br />

4,417,476<br />

776,509<br />

4,397,330<br />

477,852<br />

2,287,849<br />

920,149<br />

1,965,323<br />

765,246<br />

748,986<br />

913,607<br />

6,071,753<br />

955,704<br />

2,939,453<br />

663,304<br />

1,941,036<br />

2,125,588<br />

2,079,206<br />

1,966,968<br />

452,632<br />

2,412,015<br />

1,353,345<br />

2,244,539<br />

1,388,544<br />

3,611,764<br />

1,778,311<br />

3,327,841<br />

1,415,049<br />

2,375,607<br />

357,536<br />

608,495<br />

3,232,071<br />

5,355,070<br />

1,821,336<br />

4,576,229<br />

3,152,258<br />

2,475,728<br />

651,168<br />

802,784<br />

2,103,023<br />

2,586,772<br />

769,342<br />

3,183,025<br />

1,704,339<br />

1,827,784<br />

1,033,374<br />

3,706,292<br />

2,764,241<br />

1,424,340<br />

817,279<br />

1,302,241<br />

Net Assets %<br />

0.13%<br />

0.32%<br />

0.48%<br />

0.08%<br />

0.48%<br />

0.05%<br />

0.25%<br />

0.10%<br />

0.21%<br />

0.08%<br />

0.08%<br />

0.10%<br />

0.66%<br />

0.10%<br />

0.32%<br />

0.07%<br />

0.21%<br />

0.23%<br />

0.23%<br />

0.21%<br />

0.05%<br />

0.26%<br />

0.15%<br />

0.24%<br />

0.15%<br />

0.39%<br />

0.19%<br />

0.36%<br />

0.15%<br />

0.26%<br />

0.04%<br />

0.07%<br />

0.35%<br />

0.58%<br />

0.20%<br />

0.50%<br />

0.34%<br />

0.27%<br />

0.07%<br />

0.09%<br />

0.23%<br />

0.28%<br />

0.08%<br />

0.35%<br />

0.19%<br />

0.20%<br />

0.11%<br />

0.40%<br />

0.30%<br />

0.16%<br />

0.09%<br />

0.14%<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 />

306 Pioneer Funds - Annual Report

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