N-Q 1 seriestrust3nq.htm SERIES TRUST 3 NQ seriestrust3nq.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 811-21664


                         Pioneer Series Trust III
               (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:  August 31

Date of reporting period:  November 30, 2014

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 Disciplined Value Fund
   
       
Schedule of Investments 11/30/2014 (unaudited)
   
             
 
Shares
       
Value
       
COMMON STOCKS - 100.0%
   
       
Energy - 8.2%
   
       
Integrated Oil & Gas - 4.6%
   
 
213,065
   
Exxon Mobil Corp.
$
19,290,905
 
134,796
   
Hess Corp.
 
9,830,672
 
208,967
   
Occidental Petroleum Corp.
 
16,669,298
         
$
45,790,875
       
Oil & Gas Exploration & Production - 2.3%
   
 
354,686
   
ConocoPhillips
$
23,434,104
       
Oil & Gas Refining & Marketing - 1.3%
   
 
143,405
   
Marathon Petroleum Corp. *
$
12,919,356
       
Total Energy
$
82,144,335
       
Materials - 1.4%
   
       
Paper Products - 1.4%
   
 
257,144
   
International Paper Co.
$
13,839,490
       
Total Materials
$
13,839,490
       
Capital Goods - 7.0%
   
       
Electrical Components & Equipment - 1.6%
   
 
232,861
   
Eaton Corp. Plc
$
15,794,962
       
Construction & Farm Machinery & Heavy Trucks - 1.5%
   
 
104,327
   
Cummins, Inc.
$
15,192,098
       
Industrial Machinery - 3.9%
   
 
361,182
   
Ingersoll-Rand Plc
$
22,776,137
 
122,690
   
Parker-Hannifin Corp.
 
15,830,691
         
$
38,606,828
       
Total Capital Goods
$
69,593,888
       
Transportation - 4.6%
   
       
Airlines - 4.6%
   
 
477,217
   
American Airlines Group, Inc.
$
23,159,341
 
369,084
   
United Continental Holdings, Inc. *
 
22,599,013
         
$
45,758,354
       
Total Transportation
$
45,758,354
       
Automobiles & Components - 2.2%
   
       
Automobile Manufacturers - 2.2%
   
 
1,392,197
   
Ford Motor Co.
$
21,899,259
       
Total Automobiles & Components
$
21,899,259
       
Consumer Durables & Apparel - 1.6%
   
       
Household Appliances - 1.6%
   
 
86,990
   
Whirlpool Corp.
$
16,194,928
       
Total Consumer Durables & Apparel
$
16,194,928
       
Retailing - 1.5%
   
       
Apparel Retail - 1.5%
   
 
162,095
   
Ross Stores, Inc.
$
14,828,451
       
Total Retailing
$
14,828,451
       
Food & Staples Retailing - 2.7%
   
       
Drug Retail - 2.7%
   
 
292,807
   
CVS Health Corp.
$
26,750,848
       
Total Food & Staples Retailing
$
26,750,848
       
Food, Beverage & Tobacco - 4.7%
   
       
Brewers - 2.4%
   
 
314,436
   
Molson Coors Brewing Co. (Class B)
$
24,321,625
       
Packaged Foods & Meats - 2.3%
   
 
548,745
   
Tyson Foods, Inc.
$
23,233,863
       
Total Food, Beverage & Tobacco
$
47,555,488
       
Health Care Equipment & Services - 9.9%
   
       
Health Care Equipment - 2.7%
   
 
363,365
   
Medtronic, Inc.
$
26,841,773
       
Health Care Services - 2.2%
   
 
263,186
   
Express Scripts Holding Co. *
$
21,883,916
       
Health Care Facilities - 1.6%
   
 
235,486
   
HCA Holdings, Inc.
$
16,411,019
       
Managed Health Care - 3.4%
   
 
254,472
   
Aetna, Inc.
$
22,200,137
 
86,405
   
Humana, Inc.
 
11,921,298
         
$
34,121,435
       
Total Health Care Equipment & Services
$
99,258,143
       
Pharmaceuticals, Biotechnology & Life Sciences - 10.3%
   
       
Biotechnology - 1.4%
   
 
140,806
   
Gilead Sciences, Inc. *
$
14,125,658
       
Pharmaceuticals - 8.9%
   
 
281,400
   
Johnson & Johnson
$
30,461,550
 
504,921
   
Merck & Co., Inc.
 
30,497,230
 
911,567
   
Pfizer, Inc.
 
28,395,312
         
$
89,354,092
       
Total Pharmaceuticals, Biotechnology & Life Sciences
$
103,479,750
       
Banks - 10.2%
   
       
Diversified Banks - 7.3%
   
 
1,763,332
   
Bank of America Corp.
$
30,047,177
 
554,997
   
Citigroup, Inc.
 
29,953,188
 
237,920
   
Wells Fargo & Co.
 
12,961,882
         
$
72,962,247
       
Regional Banks - 2.9%
   
 
333,256
   
The PNC Financial Services Group, Inc.
$
29,149,902
       
Total Banks
$
102,112,149
       
Diversified Financials - 10.4%
   
       
Other Diversified Financial Services - 2.2%
   
 
534,080
   
Voya Financial, Inc.
$
22,367,270
       
Specialized Finance - 2.5%
   
 
554,353
   
The NASDAQ OMX Group, Inc.
$
24,895,993
       
Consumer Finance - 2.8%
   
 
427,692
   
Discover Financial Services, Inc.
$
28,035,211
       
Investment Banking & Brokerage - 2.9%
   
 
816,047
   
Morgan Stanley Co.
$
28,708,533
       
Total Diversified Financials
$
104,007,007
       
Insurance - 6.2%
   
       
Life & Health Insurance - 2.2%
   
 
399,337
   
Lincoln National Corp.
$
22,614,454
       
Multi-line Insurance - 2.4%
   
 
580,108
   
The Hartford Financial Services Group, Inc.
$
23,958,460
       
Property & Casualty Insurance - 1.6%
   
 
233,394
   
The Allstate Corp.
$
15,905,801
       
Total Insurance
$
62,478,715
       
Software & Services - 4.6%
   
       
Data Processing & Outsourced Services - 1.6%
   
 
1,150,742
   
Xerox Corp.
$
16,064,358
       
Systems Software - 3.0%
   
 
635,200
   
Microsoft Corp.
$
30,368,912
       
Total Software & Services
$
46,433,270
       
Technology Hardware & Equipment - 4.6%
   
       
Computer Storage & Peripherals - 2.9%
   
 
969,842
   
EMC Corp.
$
29,434,705
       
Technology Hardware, Storage & Peripherals - 1.7%
   
 
391,111
   
NetApp, Inc.
$
16,641,773
       
Total Technology Hardware & Equipment
$
46,076,478
       
Semiconductors & Semiconductor Equipment - 1.5%
   
       
Semiconductors - 1.5%
   
 
265,970
   
Analog Devices, Inc.
$
14,532,601
       
Total Semiconductors & Semiconductor Equipment
$
14,532,601
       
Telecommunication Services - 2.1%
   
       
Integrated Telecommunication Services - 2.1%
   
 
407,799
   
Verizon Communications, Inc.
$
20,630,551
       
Total Telecommunication Services
$
20,630,551
       
Utilities - 6.3%
   
       
Electric Utilities - 4.2%
   
 
328,006
   
Edison International
$
20,848,061
 
205,439
   
NextEra Energy, Inc. *
 
21,445,777
         
$
42,293,838
       
Multi-Utilities - 2.1%
   
 
499,609
   
Public Service Enterprise Group, Inc.
$
20,873,664
       
Total Utilities
$
63,167,502
       
TOTAL COMMON STOCKS
   
       
(Cost $832,037,908)
$
1,000,741,207
             
       
TOTAL INVESTMENT IN SECURITIES - 100.0%
   
       
(Cost $832,037,908) (a)
$
1,000,741,207
       
OTHER ASSETS & LIABILITIES - 0.0%
$
425,269
       
TOTAL NET ASSETS - 100.0%
$
1,001,166,476
             
             
 
*
   
Non-income producing security.
   
             
 
(a)
   
At November 30, 2014, the net unrealized appreciation (depreciation) on investments based on cost for federal income tax purposes of $835,841,734 was as follows:
             
       
Aggregate gross unrealized appreciation for all investments in which
   
       
there is an excess of value over tax cost
$
170,923,443
             
       
Aggregate gross unrealized depreciation for all investments in which
   
       
there is an excess of tax cost over value
 
(6,023,970)
             
       
Net unrealized appreciation
$
164,899,473
             
Various inputs are used in determining the value of the Fund's investments.  These inputs are summarized in the three broad levels listed 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 risk, etc.)
Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)
             
Generally, equity securities are categorized as Level 1, fixed income securities and senior loans as Level 2 and securities valued
using fair value methods (other than prices supplied by independent pricing services) as Level 3.
   
             
The following is a summary of the inputs used as of November 30, 2014, in valuing the Fund's investments:
             
             


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 Series Trust III By (Signature and Title)* /s/ Lisa M.Jones ----------------------- Lisa M.Jones, President and Chief Executive Officer Date January 29, 2015 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 January 29, 2015 By (Signature and Title)* /s/ Mark E. Bradley ----------------- Mark E. Bradley, Treasurer and Chief Accounting and Financial Officer Date January 29, 2015 * Print the name and title of each signing officer under his or her signature.