N-Q 1 mhiatsoi.htm MUNI HIGH INC ADVANTAGE SOI mhiatsoi.htm
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-Q

                   QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
    OF REGISTERED MANAGEMENT INVESTMENT COMPANY



  Investment Company Act file number 811-21409


                         Pioneer Municipal High Income Advantage Trust
               (Exact name of registrant as specified in charter)


                       60 State Street, Boston, MA 02109
              (Address of principal executive offices) (ZIP code)


            Terrence J. Cullen, Pioneer Investment Management, Inc.,
                       60 State Street, Boston, MA 02109
                    (Name and address of agent for service)


Registrant's telephone number, including area code:  (617) 742-7825


Date of fiscal year end:   March 31

Date of reporting period:  December 31, 2015

Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5).  The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609.  The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.


<PAGE>
ITEM 1. Schedule of Investments.

File the schedules as of the close of the reporting period as set forth in
ss. 210.12-12  12-14 of Regulation S-X [17 CFR 210.12-12  12-14]. The
schedules need not be audited.





   
Pioneer Municipal High
   
Income Advantage Trust
     
     
     
     
     
     
     
   
NQ | December 31, 2015
     
     
   
Ticker Symbol: MAV



 
 
Schedule of Investments  |  12/31/15 (unaudited)


 
Principal
Amount
USD ($)
   
Value
         
   
TAX EXEMPT OBLIGATIONS -  139.0% of Net Assets (a)
   
   
Alabama - 1.7%
   
 
  2,500,000 
Alabama Industrial Development Authority, Pine City Fiber Co., 6.45%, 12/1/23   
 
$ 2,510,500 
 
  2,500,000 
Huntsville-Redstone Village Special Care Facilities Financing Authority, Redstone Village Project, 5.5%, 1/1/43   
 
  2,508,425 
       
                $ 5,018,925 
   
Arizona - 0.9%
   
 
  32,000 
County of Pima, AZ, Industrial Development Authority, Arizona Charter Schools Project, Series C, 6.75%, 7/1/31   
 
$ 32,213 
 
  2,640,000(b)
County of Pima, AZ, Industrial Development Authority, Constellation Schools Project, 7.0%, 1/1/38   
 
  2,692,800 
       
                $ 2,725,013 
   
California - 16.7%
   
 
  6,990,000 
California County Tobacco Securitization Agency, Asset-Backed, Gold County Funding Corp., 5.25%, 6/1/46   
 
$ 5,805,544 
 
  38,610,000(c)
California County Tobacco Securitization Agency, Capital Appreciaiton, Stanislaus County, Subordinated, Series A, 6/1/46
 
  4,457,911 
 
  1,845,000 
California Educational Facilities Authority, Stanford University, 5.25%, 4/1/40   
 
  2,521,488 
 
  1,550,000 
California Enterprise Development Authority, Sunpower Corp., 8.5%, 4/1/31   
 
  1,770,642 
 
  5,000,000 
California Pollution Control Financing Authority, 5.0%, 7/1/37 (144A) 
 
  5,197,400 
 
  3,000,000 
California School Finance Authority, Classical Academies Project, Series A, 7.375%, 10/1/43   
 
  3,561,300 
 
  1,875,000 
California Statewide Communities Development Authority, Lancer Plaza Project, 5.875%, 11/1/43   
 
  1,936,556 
 
  757,342(d)
California Statewide Communities Development Authority, Microgy Holdings Project, 9.0%, 12/1/38   
 
  8 
 
  1,500,000(b)
City of Madera, CA, Irrigation Financing Authority, 6.25%, 1/1/31   
 
  1,798,890 
 
  1,500,000(b)
City of Madera, CA, Irrigation Financing Authority, 6.5%, 1/1/40   
 
  1,813,500 
 
  2,500,000 
City of San Jose, CA, Series B, 5.0%, 3/1/37   
 
  2,593,625 
 
  8,575,000(e)(f)
Lehman Municipal Trust Receipts, RIB, 13.142%, 7/28/31   
 
  9,989,189 
 
  3,140,000(e) 
Lehman Municipal Trust Receipts, RIB, 13.235%, 9/20/28 (144A) 
 
  3,924,215 
 
  1,000,000 
River Islands Public Financing Authority, Community Facilities, 5.5%, 9/1/45   
 
  1,063,960 
 
  2,425,000(f) 
State of California, Various Purposes, 5.75%, 4/1/31   
 
  2,792,387 
 
  465,000 
Tobacco Securitization Authority of Southern California, Series A-1, 5.125%, 6/1/46   
 
  422,397 
       
              $ 49,649,012 
   
Colorado - 0.5%
   
 
  1,500,000 
Colorado Educational & Cultural Facilities Authority, Rocky Mountain Classical Academy Project, 8.0%, 9/1/43   
 
$ 1,586,700 
         
   
Connecticut - 3.0%
   
 
  7,200,000(f)
State of Connecticut, Series E, 4.0%, 9/1/30   
 
$ 7,820,136 
 
  1,000,000 
Town of Hamden, CT, Whitney Center Project, Series A, 7.75%, 1/1/43   
 
  1,044,840 
       
                $ 8,864,976 
   
District of Columbia - 3.4%
   
 
  2,700,000 
District of Columbia Tobacco Settlement Financing Corp., Asset-Backed, 6.5%, 5/15/33   
 
$ 3,338,469 
 
  6,825,000 
District of Columbia Tobacco Settlement Financing Corp., Asset-Backed, 6.75%, 5/15/40   
 
  6,826,297 
       
              $ 10,164,766 
   
Florida - 4.5%
   
 
  1,500,000 
Alachua County Health Facilities Authority, Terraces Bonita Springs Project, Series A, 8.125%, 11/15/41   
 
$ 1,779,030 
 
  1,500,000 
Alachua County Health Facilities Authority, Terraces Bonita Springs Project, Series A, 8.125%, 11/15/46   
 
  1,775,445 
 
  500,000 
Capital Trust Agency, Inc., Million Air One LLC, 7.75%, 1/1/41   
 
  451,290 
 
  2,500,000 
County of Miami-Dade, FL, Aviation Revenue, Series B, 5.5%, 10/1/41   
 
  2,808,250 
 
  5,000,000 
Florida's Turnpike Enterprise, Department of Transportation,
Series A, 4.0%, 7/1/32   
 
  5,392,150 
 
  1,000,000(b)
Hillsborough County Industrial Development Authority, Various Health Facilities, 8.0%, 8/15/32   
 
  1,250,610 
       
              $ 13,456,775 
   
Georgia - 4.0%
   
 
  900,000 
DeKalb County Georgia Hospital Authority, DeKalb Medical Center, Inc. Project, 6.0%, 9/1/30   
 
$ 991,980 
 
  750,000 
DeKalb County Georgia Hospital Authority, DeKalb Medical Center, Inc. Project, 6.125%, 9/1/40   
 
  820,635 

 
Principal
Amount
USD ($)
   
Value
   
Georgia - (continued)
   
 
  8,750,000 
Private Colleges & Universities Authority, Emory University,
Series A, 5.0%, 10/1/43   
 
$  10,089,013 
       
                $ 11,901,628 
   
Guam - 0.4%
   
 
  1,000,000 
Guam Department of Education, Certificates of Participation, John F. Kennedy High School, Series A, 6.625%, 12/1/30   
 
$ 1,091,830 
         
   
Idaho - 0.7%
   
 
  2,000,000 
Power County Industrial Development Corp., FMC Corp. Project, 6.45%, 8/1/32   
 
$ 2,004,080 
         
   
Illinois - 4.3%
   
 
  1,000,000(f)
City of Country Club Hills, IL, Sales Tax, 5.0%, 12/1/31   
 
$ 1,006,180 
 
  417,400(e)
Illinois Finance Authority, Clare Oaks Project, Series B, 4.0%, 11/15/52   
 
  282,789 
 
  261,000(c)
Illinois Finance Authority, Clare Oaks Project, Series C-1, 11/15/52
 
  9,367 
 
  52,200(c)
Illinois Finance Authority, Clare Oaks Project, Series C-2, 11/15/52
 
  14,245 
 
  52,200(c)
Illinois Finance Authority, Clare Oaks Project, Series C-3, 11/15/52
 
  8,966 
 
  3,000,000 
Illinois Finance Authority, Greenfields of Geneva Project, Series A, 8.125%, 2/15/40   
 
  3,003,900 
 
  2,500,000 
Illinois Finance Authority, Greenfields of Geneva Project, Series A, 8.25%, 2/15/46   
 
  2,503,225 
 
  1,450,000 
Illinois Finance Authority, Memorial Health System, 5.5%, 4/1/39  
 
  1,588,243 
 
  2,000,000 
Illinois Finance Authority, Northwestern Memorial Hospital,
Series A, 6.0%, 8/15/39   
 
  2,323,020 
 
  280,000 
Illinois Finance Authority, Swedish Covenant, Series A, 6.0%, 8/15/38   
 
  311,758 
 
  1,705,000 
Southwestern Illinois Development Authority, Village of Sauget Project, 5.625%, 11/1/26   
 
  1,586,451 
       
                $ 12,638,144 
   
Indiana - 0.6%
   
 
  250,000 
City of Carmel, IN, Barrington Carmel Project, Series A, 7.0%, 11/15/32   
 
$ 280,765 
 
  750,000 
City of Carmel, IN, Barrington Carmel Project, Series A, 7.125%, 11/15/42   
 
  843,060 
 
  500,000 
City of Carmel, IN, Barrington Carmel Project, Series A, 7.125%, 11/15/47   
 
  560,495 
       
                $ 1,684,320 
   
Kansas - 0.4%
   
 
  1,000,000 
Kansas Development Finance Authority, Hayes Medical Center, Inc., Series Q, 5.0%, 5/15/35   
 
$ 1,080,000 
         
   
Louisiana - 6.0%
   
 
  7,000,000 
Jefferson Parish Hospital Service District No. 2, East Jefferson General Hospital, 6.375%, 7/1/41   
 
$ 7,983,570 
 
  2,500,000 
Louisiana Local Government Environmental Facilities & Community Development Authority, Westlake Chemical Corp. Project, 6.75%, 11/1/32   
 
  2,708,850 
  1,650,000(b)
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Series A, 5.5%, 5/15/47   
 
  1,756,870 
  4,350,000 
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Series A, 5.5%, 5/15/47   
 
  4,546,664 
 
  750,000 
Opelousas Louisiana General Hospital Authority, Opelousas General Health System Project, 5.75%, 10/1/23   
 
  752,738 
       
                $ 17,748,692 
   
Maine - 2.0%
   
 
  1,500,000 
Maine Health & Higher Educational Facilities Authority, Maine General Medical Center, 7.5%, 7/1/32   
 
$ 1,796,160 
 
  3,500,000 
Maine Turnpike Authority, Series A, 5.0%, 7/1/42   
 
  4,037,285 
       
                $ 5,833,445 
   
Maryland - 3.7%
   
 
  2,000,000 
Maryland Health & Higher Educational Facilities Authority, Charlestown Community, 6.25%, 1/1/45   
 
$ 2,234,740 
 
  2,235,000 
Maryland Health & Higher Educational Facilities Authority, City Neighbors, Series A, 6.75%, 7/1/44   
 
  2,437,044 
 
  1,250,000 
Maryland Health & Higher Educational Facilities Authority, Doctor's Community Hospital, 5.75%, 7/1/38   
 
  1,324,750 
 
  4,500,000 
Maryland Health & Higher Educational Facilities Authority, Maryland University Medical System, Series A, 5.0%, 7/1/43   
 
  4,966,425 
       
                $ 10,962,959 
   
Massachusetts - 5.7%
   
 
  987,904 
Massachusetts Development Finance Agency, Linden Ponds, Inc., Series A-1, 5.5%, 11/15/46   
 
$ 847,641 



 
Principal
Amount
USD ($)
   
 
   
Massachusetts - (continued)
   
 
  2,200,000 
Massachusetts Development Finance Agency, Partner's Healthcare System, Series M-4, 5.0%, 7/1/39   
 
  2,471,546 
 
  8,000,000 
Massachusetts Development Finance Agency, WGBH Foundation, Series A, 5.75%, 1/1/42   
 
  10,164,720 
 
  2,400,000 
Massachusetts Health & Educational Facilities Authority, Massachusetts Institute of Technology, Series K, 5.5%, 7/1/32   
 
  3,330,960 
 
  3,420,000(d)
Massachusetts Health & Educational Facilities Authority, Quincy Medical Center, Series A, 6.5%, 1/15/38   
 
  8,379 
       
                $ 16,823,246 
   
Michigan - 3.6%
   
 
  2,000,000 
Flint Michigan Hospital Building Authority, Hurley Medical Center, 7.375%, 7/1/35   
 
$ 2,284,320 
 
  2,235,000 
Kent Hospital Finance Authority, Metropolitan Hospital Project, Series A, 6.25%, 7/1/40   
 
  2,236,676 
 
  560,000 
Michigan Public Educational Facilities Authority, Crescent Academy, 7.0%, 10/1/36   
 
  578,654 
 
  5,000,000 
Michigan State University, Series A, 5.0%, 8/15/41   
 
  5,702,250 
       
                $ 10,801,900 
   
Minnesota - 0.8%
   
 
  2,000,000 
Bloomington Port Authority, Radisson Blu Mall of America, 9.0%, 12/1/35   
 
$ 2,294,960 
         
   
Montana - 0.3%
   
 
  2,445,000 
City of Hardin, MT, Tax Allocation, Rocky Mountain Power, Inc. Project, 6.25%, 9/1/31   
 
$ 855,652 
 
  1,000,000(d)
Two Rivers Authority, Inc., 7.375%, 11/1/27   
 
  144,020 
       
                $ 999,672 
   
Nevada - 2.3%
   
 
  4,500,000(b)
City of Reno, NV, Renown Regional Medical Center Project,
Series A, 5.25%, 6/1/41   
 
$ 4,778,415 
 
  2,000,000 
County of Washoe, NV, Fuel Tax, 5.0%, 2/1/43   
 
  2,189,020 
       
                $ 6,967,435 
   
New Jersey - 9.4%
   
 
  7,500,000 
New Jersey Economic Development Authority, Continental Airlines, 5.75%, 9/15/27   
 
$ 8,306,625 
 
  3,300,000 
New Jersey Health Care Facilities Financing Authority, Raritan Bay Medical Center, 7.25%, 7/1/27   
 
  3,304,752 
 
  3,500,000(e) 
New Jersey State Turnpike Authority, RIB, 13.867%, 7/1/23 (144A) 
 
  6,139,280 
 
  15,375,000(c)
New Jersey Transportation Trust Fund Authority, 12/15/27   
 
  10,228,526 
       
                $ 27,979,183 
   
New York - 6.8%
   
 
  5,000,000 
New York State Dormitory Authority, Columbia University, 5.0%, 10/1/41   
 
$ 5,812,300 
 
  2,000,000 
New York State Dormitory Authority, Orange Medical Center, 6.125%, 12/1/29   
 
  2,182,300 
 
  7,500,000 
New York State Dormitory Authority, Series C, 5.0%, 3/15/39   
 
  8,648,400 
 
  1,500,000 
New York State Dormitory Authority, Trustees of Columbia University, 5.0%, 10/1/45   
 
  2,051,130 
 
  1,379,463 
Westchester County Healthcare Corp., Series A, 5.0%, 11/1/44   
 
  1,534,997 
       
                $ 20,229,127 
   
Ohio - 6.7%
   
 
  3,000,000 
Akron Bath Copley Joint Township Hospital District, Akron General Health System, 5.0%, 1/1/31   
 
$ 3,253,470 
 
  2,500,000 
Buckeye Tobacco Settlement Financing Authority, Asset-Backed, Series A-2, 5.875%, 6/1/47   
 
  2,160,025 
 
  8,945,000 
Buckeye Tobacco Settlement Financing Authority, Asset-Backed, Series A-2, 6.5%, 6/1/47   
 
  8,308,653 
 
  3,000,000 
Ohio State Water Development Authority, First Energy Generation Project, Series A, 3.0%, 5/15/19   
 
  3,050,130 
 
  2,500,000(f) 
State of Ohio, Common Schools, Series B, 5.0%, 6/15/29   
 
  2,978,175 
       
                $ 19,750,453 
   
Oregon - 0.7%
   
 
  2,000,000 
Oregon State Facilities Authority, Samaritan Health Services, Series A, 5.25%, 10/1/40   
 
$ 2,163,660 
         
   
Pennsylvania - 9.5%
   
 
  1,965,000 
Pennsylvania Economic Development Financing Authority, US Airways Group, Series B, 8.0%, 5/1/29   
 
$ 2,314,927 
 
  5,000,000 
Pennsylvania Economic Development Financing Authority, USG Corp. Project, 6.0%, 6/1/31   
 
  5,000,500 
 
  5,000,000 
Pennsylvania Turnpike Commission, Series D, 5.3%, 12/1/41   
 
  5,571,050 
 
  500,000 
Philadelphia Authority for Industrial Development, Greater Philadelphia Health Action, Inc. Project, Series A, 6.625%, 6/1/50
 
  502,915 

 
Principal
Amount
USD ($)
   
 
   
Pennsylvania - (continued)
   
 
  6,000,000 
Philadelphia Authority for Industrial Development, Nueva Esperanze, Inc., 8.2%, 12/1/43   
 
 $  6,666,720 
 
  1,000,000 
Philadelphia Authority for Industrial Development, Performing Arts Charter School Project, 6.5%, 6/15/33 (144A) 
 
  1,067,850 
 
  2,000,000 
Philadelphia Authority for Industrial Development, Performing Arts Charter School Project, 6.75%, 6/15/43 (144A) 
 
  2,143,140 
 
  5,000,000 
Philadelphia Hospitals & Higher Education Facilities Authority, Temple University Health System, Series A, 5.0%, 7/1/34   
 
  5,076,450 
       
                $ 28,343,552 
   
Puerto Rico - 1.1%
   
 
  4,500,000(f)
Commonwealth of Puerto Rico, Series A, 8.0%, 7/1/35   
 
$ 3,262,635 
         
   
Rhode Island - 0.7%
   
 
  1,355,000(d)
Central Falls Detention Facility Corp., 7.25%, 7/15/35   
 
$ 337,422 
 
  1,500,000 
Rhode Island Health & Educational Building Corp., Tockwatten Home Issue, 8.375%, 1/1/46   
 
  1,775,355 
       
                $ 2,112,777 
   
South Carolina - 2.1%
   
 
  4,400,000(g)
Tobacco Settlement Revenue Management Authority, Series B, 6.375%, 5/15/30   
 
$ 6,100,820 
         
   
South Dakota - 1.4%
   
 
  4,000,000 
South Dakota Health & Educational Facilities Authority, Sanford Health, Series B, 4.0%, 11/1/44   
 
$ 4,074,440 
         
   
Tennessee - 3.0%
   
 
  5,000,000 
Johnson City Health & Educational Facilities Board, Mountain States Health Alliance, 6.5%, 7/1/38   
 
$ 5,770,250 
 
  3,000,000 
Sullivan County Health, Educational & Housing Facilities Board, Wellmont Health System Project, Series C, 5.25%, 9/1/36   
 
  3,074,880 
       
                $ 8,845,130 
   
Texas - 19.1%
   
 
  1,000,000 
Arlington Higher Education Finance Corp., Universal Academy, Series A, 7.0%, 3/1/34   
 
$ 1,059,740 
 
  1,500,000 
Arlington Higher Education Finance Corp., Universal Academy, Series A, 7.125%, 3/1/44   
 
  1,587,690 
 
  2,500,000 
Central Texas Regional Mobility Authority, Sub Lien, 6.75%, 1/1/41   
 
  2,980,925 
 
  2,500,000(f)
County of Harris TX, Series A, 5.0%, 10/1/26   
 
  3,111,175 
 
  5,000,000(f)
Goose Creek Consolidated Independent School District, Series C, 4.0%, 2/15/26   
 
  5,666,500 
 
  2,663,453(d)
Gulf Coast Industrial Development Authority, Microgy Holdings Project, 7.0%, 12/1/36   
 
  27 
 
  3,000,000 
Houston Higher Education Finance Corp., St. John's School Project, Series A, 5.0%, 9/1/38   
 
  3,256,080 
 
  2,000,000 
Lubbock Health Facilities Development Corp., Carillon Project, Series A, 6.625%, 7/1/36   
 
  2,037,180 
 
  3,355,000 
North Texas Tollway Authority, Series A, 5.0%, 1/1/30   
 
  3,947,359 
 
  9,750,000(b)
North Texas Tollway Authority, Series F, 5.75%, 1/1/33   
 
  10,658,700 
 
  1,500,000 
Red River Health Facilities Development Corp., MRC Crestview, Series A, 8.0%, 11/15/41   
 
  1,751,325 
 
  2,000,000(f) 
Richardson Independent School District, School Building, 5.0%, 2/15/38   
 
  2,311,600 
 
  3,960,000 
Sanger Industrial Development Corp., Texas Pellets Project,
Series B, 8.0%, 7/1/38   
 
  4,273,909 
 
  1,000,000 
Tarrant County Cultural Education Facilities Finance Corp., Mirador Project, Series A, 8.125%, 11/15/39   
 
  856,650 
 
  750,000 
Tarrant County Cultural Education Facilities Finance Corp., Mirador Project, Series A, 8.25%, 11/15/44   
 
  642,555 
 
  1,000,000(d)
Texas Midwest Public Facility Corp., Secure Treatment Facility Project, 9.0%, 10/1/30   
 
  119,500 
 
  3,000,000 
Texas Private Activity Bond Surface Transportation Corp., NTE Mobility Partners LLC, 7.0%, 12/31/38   
 
  3,762,480 
 
  2,500,000 
Travis County Health Facilities Development Corp., Longhorn Village Project, 7.125%, 1/1/46   
 
  2,796,250 
 
  5,000,000(f) 
Tyler Independent School District, School Building, 5.0%, 2/15/38   
 
  5,779,000 
       
                $ 56,598,645 
   
Virginia - 3.5%
   
 
  2,000,000 
County of Washington, VA, Industrial Development Authority, Mountain States Health Alliance, Series C, 7.75%, 7/1/38   
 
$ 2,284,840 
 
  3,000,000 
Tobacco Settlement Financing Corp., Series B-1, 5.0%, 6/1/47   
 
  2,343,990 
 
  5,000,000 
Virginia Public School Authority Revenue, 4.0%, 8/1/25   
 
  5,770,150 
       
                $ 10,398,980 
   
Washington - 5.2%
   
 
  2,500,000 
University of Washington, Series B, 5.0%, 6/1/29   
 
$ 3,054,725 

 
Principal
Amount
USD ($)
   
Value
   
Washington - (continued)
   
 
  1,500,000(b)
Washington State Health Care Facilities Authority, Kadlec Regional Medical Center, 5.5%, 12/1/39   
 
$  1,798,965 
 
  2,000,000 
Washington State Health Care Facilities Authority, VA Mason Medical, Series A, 6.125%, 8/15/37   
 
  2,141,640 
 
  2,000,000 
Washington State Health Care Facilities Authority, VA Mason Medical, Series A, 6.25%, 8/15/42   
 
  2,141,940 
 
  1,100,000 
Washington State Housing Finance Commission, Mirabella Project, Series A, 6.75%, 10/1/47   
 
  1,199,209 
 
  5,000,000 
Washington State Housing Finance Commission, Skyline at First Hill Project, Series A, 5.625%, 1/1/27   
 
  5,022,400 
       
                $ 15,358,879 
   
West Virginia - 0.7%
   
 
  2,000,000(d) 
City of Philippi, WV, Alderson-Broaddus College, Inc., Series A, 7.75%, 10/1/44   
 
$ 1,200,080 
 
  725,000 
West Virginia Hospital Finance Authority, Highland Hospital Group, 9.125%, 10/1/41   
 
  784,341 
       
                $ 1,984,421 
   
Wisconsin - 3.6%
   
 
  5,000,000 
Public Finance Authority, Glenridge Palmer Ranch, Series A, 8.25%, 6/1/46   
 
$ 6,258,000 
 
  750,000 
Public Finance Authority, Roseman University Health Sciences Project, 5.875%, 4/1/45   
 
  771,750 
 
  1,500,000 
Public Finance Authority, SearStone CCRC Project, Series A, 8.625%, 6/1/47   
 
  1,788,885 
 
  195,000 
Public Finance Authority, SearStone CCRC Project, Series B, 8.375%, 6/1/20   
 
  195,667 
 
  1,500,000(b)
Wisconsin Health & Educational Facilities Authority, Pro Healthcare, Inc. Group, 6.625%, 2/15/39   
 
  1,755,165 
       
                $ 10,769,467 
   
TOTAL TAX EXEMPT OBLIGATIONS
   
   
(Cost $376,415,178)
 
               $ 412,270,647 
         
   
MUNICIPAL COLLATERALIZED DEBT OBLIGATION -  0.2% of Net Assets
   
 
  13,000,000(e)
Non-Profit Preferred Funding Trust I, Series E, 0.0%, 9/15/37 (144A) 
 
$ 715,130 
         
   
TOTAL MUNICIPAL COLLATERALIZED DEBT OBLIGATION
   
   
(Cost  $13,000,000)
 
                $ 715,130 
         
   
TAX EXEMPT MONEY MARKET MUTUAL FUND -  5.4% of Net Assets
   
 
  16,000,000 
BlackRock Liquidity Funds MuniFund Portfolio     
 
$ 16,000,000 
         
   
TOTAL TAX EXEMPT MONEY MARKET MUTUAL FUND
   
   
(Cost  $16,000,000)
 
                $ 16,000,000 
         
   
TOTAL INVESTMENTS IN SECURITIES - 144.6%
   
   
(Cost - $405,415,178) (h)
 
               $ 428,985,777 
   
OTHER ASSETS AND LIABILITIES - 6.0%
 
                $ 17,722,430 
   
PREFERRED SHARES AT REDEMPTION VALUE,
INCLUDING DIVIDENDS PAYABLE - (50.6)%
 
              $  (150,006,713)
   
NET ASSETS APPLICABLE TO
COMMON SHAREOWNERS -100.0%
 
               $ 296,701,494 
 
           
(144A)
Security is exempt from registration under Rule 144A of the Securities Act of 1933.  Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At December 31, 2015, the value of these securities amounted to $19,187,015, or 6.5% of total net assets applicable to common shareowners.
RIB
Residual Interest Bond.  The interest rate is subject to change periodically and inversely based upon prevailing market rates.  The interest rate shown is the rate at December 31, 2015.

(a)
Consists of Revenue Bonds unless otherwise indicated.
(b)
Prerefunded bonds have been collateralized by U.S. Treasury or U.S. Government Agency securities which are held in escrow to pay interest and principal on the tax exempt issue and to retire the bonds in full at the earliest refunding date.
(c)
Security issued with a zero coupon. Income is recognized through accretion of discount.
(d)
Security is in default.
(e)
The interest rate is subject to change periodically. The interest rate shown is the rate at December 31, 2015.
(f)
Represents a General Obligation Bond.
(g)
Escrow to maturity.




(h)
At December 31, 2015, the net unrealized appreciation on investments based on cost for federal tax purposes of $399,746,877 was as follows:
   
 
Aggregate gross unrealized appreciation for all investments in which there
   
 
     is an excess of value over tax cost
 
$ 45,643,030 
 
Aggregate gross unrealized depreciation for all investments in which there
   
 
     is an excess of tax cost over value
 
  (16,404,130)
   
 
Net unrealized appreciation
$ 29,238,900 
     
For financial reporting purposes net unrealized appreciation on investments was $23,570,599 and cost of investments aggregated $405,415,178.
 

Various inputs are used in determining the value of the Trust's investments. These inputs are summarized in the three broad levels below.
 
   
Level 1 - 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 Trust's own assumptions in determining fair value of investments).
 
   
The following is a summary of the inputs used as of December 31, 2015, in valuing the Trust's investments.
 
   
   
Level 1
   
Level 2
   
Level 3
   
Total
 
   
Tax Exempt Obligations
  $     $ 412,270,647     $     $ 412,270,647  
Municipal Collateralized Debt Obligation
          715,130             715,130  
Tax Exempt Money Market
Mutual Fund
    16,000,000                   16,000,000  
Total Investments in Securities
  $ 16,000,000     $ 412,985,777     $     $ 428,985,777  


ITEM 2. CONTROLS AND PROCEDURES. (a) Disclose the conclusions of the registrant's principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)). The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report. (b) Disclose any change in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. There were no significant changes in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), exactly as set forth below: CERTIFICATIONS I, [identify the certifying individual], certify that: 1. I have reviewed this report on Form N-Q of [identify registrant]; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and 5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. Date: [Signature] [Title] Filed herewith. <PAGE> SIGNATURES [See General Instruction F] Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Pioneer Municipal High Income Advantage Trust By (Signature and Title)* /s/ Lisa M.Jones ----------------------- Lisa M.Jones, President and Chief Executive Officer Date February 26, 2016 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title)* /s/ Lisa M.Jones ----------------------- Lisa M.Jones, President and Chief Executive Officer Date February 26, 2016 By (Signature and Title)* /s/ Mark E. Bradley ----------------- Mark E. Bradley, Treasurer and Chief Accounting and Financial Officer Date February 26, 2016 * Print the name and title of each signing officer under his or her signature.