N-Q 1 fundsoi.htm PIONEER FUND SOI fundsoi.htm 
                                                             OMB APPROVAL
                                                     OMB Number:       3235-0578
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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 811-01466


                         Pioneer Fund
               (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:  December 31

Date of reporting period:  March 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 Fund


  
  
  
  
  


  
  
  
  


Schedule of Investments 3/31/15


  
  
  
  
  


  
  
  
  
  
  
  
  
  
  


  


Shares


  
  
  
  


Value


  
  
  


  
  
  
  


COMMON STOCKS - 100.0%


  
  
  
  
  


  
  
  
  


Energy - 6.1%


  
  
  
  
  


  
  
  
  


Oil & Gas Drilling - 0.2%


  
  
  
  
  


  


182,538


  
  


Helmerich & Payne, Inc.




$




12,425,362


  
  
  


  
  
  
  


Oil & Gas Equipment & Services - 0.3%


  
  
  
  
  


  


376,594


  
  


Cameron International Corp. *




$




16,991,921


  
  
  


  
  
  
  


Integrated Oil & Gas - 0.3%


  
  
  
  
  


  


242,670


  
  


Occidental Petroleum Corp.




$




17,714,910


  
  
  


  
  
  
  


Oil & Gas Exploration & Production - 3.2%


  
  
  
  
  


  


563,863


  
  


Apache Corp.




$




34,017,855


  
  
  


  


1,400,229


  
  


Cabot Oil & Gas Corp.


  


41,348,762


  
  
  


  


549,378


  
  


ConocoPhillips


  


34,204,274


  
  
  


  


1,206,974


  
  


Marathon Oil Corp.


  


31,514,091


  
  
  


  


1,170,746


  
  


Southwestern Energy Co. *


  


27,149,600


  
  
  


  
  
  
  
  


$




168,234,582


  
  
  


  
  
  
  


Oil & Gas Refining & Marketing - 1.5%


  
  
  
  
  


  


406,740


  
  


Marathon Petroleum Corp.




$




41,646,109


  
  
  


  


438,706


  
  


Phillips 66


  


34,482,292


  
  
  


  
  
  
  
  


$




76,128,401


  
  
  


  
  
  
  


Oil & Gas Storage & Transportation - 0.6%


  
  
  
  
  


  


689,204


  
  


Kinder Morgan, Inc./DE




$




28,987,920


  
  
  


  
  
  
  


Total Energy




$




320,483,096


  
  
  


  
  
  
  


Materials - 3.6%


  
  
  
  
  


  
  
  
  


Diversified Chemicals - 1.1%


  
  
  
  
  


  


290,130


  
  


EI du Pont de Nemours & Co.




$




20,735,591


  
  
  


  


742,486


  
  


The Dow Chemical Co.


  


35,624,478


  
  
  


  
  
  
  
  


$




56,360,069


  
  
  


  
  
  
  


Fertilizers & Agricultural Chemicals - 0.4%


  
  
  
  
  


  


192,778


  
  


Monsanto Co.




$




21,695,236


  
  
  


  
  
  
  


Specialty Chemicals - 2.1%


  
  
  
  
  


  


504,292


  
  


Ecolab, Inc.




$




57,680,919


  
  
  


  


9,886


  
  


Givaudan SA


  


17,913,546


  
  
  


  


435,751


  
  


The Valspar Corp.


  


36,616,157


  
  
  


  
  
  
  
  


$




112,210,622


  
  
  


  
  
  
  


Total Materials




$




190,265,927


  
  
  


  
  
  
  


Capital Goods - 7.7%


  
  
  
  
  


  
  
  
  


Aerospace & Defense - 2.1%


  
  
  
  
  


  


217,648


  
  


Honeywell International, Inc.




$




22,702,863


  
  
  


  


744,216


  
  


United Technologies Corp.


  


87,222,115


  
  
  


  
  
  
  
  


$




109,924,978


  
  
  


  
  
  
  


Building Products - 0.6%


  
  
  
  
  


  


334,340


  
  


Allegion Plc




$




20,451,578


  
  
  


  


246,689


  
  


Fortune Brands Home & Security, Inc.


  


11,712,794


  
  
  


  
  
  
  
  


$




32,164,372


  
  
  


  
  
  
  


Electrical Components & Equipment - 0.8%


  
  
  
  
  


  


308,563


  
  


Eaton Corp. Plc




$




20,963,770


  
  
  


  


164,875


  
  


Rockwell Automation, Inc.


  


19,123,851


  
  
  


  
  
  
  
  


$




40,087,621


  
  
  


  
  
  
  


Industrial Conglomerates - 2.4%


  
  
  
  
  


  


399,857


  
  


3M Co.




$




65,956,412


  
  
  


  


2,447,219


  
  


General Electric Co.


  


60,715,503


  
  
  


  
  
  
  
  


$




126,671,915


  
  
  


  
  
  
  


Construction & Farm Machinery & Heavy Trucks - 0.8%


  
  
  
  
  


  


131,912


  
  


Cummins, Inc.




$




18,288,280


  
  
  


  


386,763


  
  


PACCAR, Inc.


  


24,420,216


  
  
  


  
  
  
  
  


$




42,708,496


  
  
  


  
  
  
  


Industrial Machinery - 1.0%


  
  
  
  
  


  


767,254


  
  


Ingersoll-Rand Plc




$




52,234,652


  
  
  


  
  
  
  


Total Capital Goods




$




403,792,034


  
  
  


  
  
  
  


Transportation - 2.0%


  
  
  
  
  


  
  
  
  


Railroads - 2.0%


  
  
  
  
  


  


456,660


  
  


Norfolk Southern Corp.




$




46,999,447


  
  
  


  


523,748


  
  


Union Pacific Corp.


  


56,727,146


  
  
  


  
  
  
  
  


$




103,726,593


  
  
  


  
  
  
  


Total Transportation




$




103,726,593


  
  
  


  
  
  
  


Automobiles & Components - 0.6%


  
  
  
  
  


  
  
  
  


Auto Parts & Equipment - 0.6%


  
  
  
  
  


  


509,533


  
  


BorgWarner, Inc.




$




30,816,556


  
  
  


  
  
  
  


Total Automobiles & Components




$




30,816,556


  
  
  


  
  
  
  


Consumer Durables & Apparel - 1.1%


  
  
  
  
  


  
  
  
  


Household Appliances - 1.1%


  
  
  
  
  


  


988,608


  
  


Electrolux AB




$




28,334,365


  
  
  


  


137,465


  
  


Whirlpool Corp.


  


27,776,178


  
  
  


  
  
  
  
  


$




56,110,543


  
  
  


  
  
  
  


Total Consumer Durables & Apparel




$




56,110,543


  
  
  


  
  
  
  


Consumer Services - 0.1%


  
  
  
  
  


  
  
  
  


Education Services - 0.1%


  
  
  
  
  


  


197,722


  
  


Houghton Mifflin Harcourt Co. *




$




4,642,513


  
  
  


  
  
  
  


Total Consumer Services




$




4,642,513


  
  
  


  
  
  
  


Media - 7.5%


  
  
  
  
  


  
  
  
  


Broadcasting - 1.6%


  
  
  
  
  


  


548,711


  
  


CBS Corp. (Class B)




$




33,268,348


  
  
  


  


751,625


  
  


Scripps Networks Interactive, Inc.


  


51,531,410


  
  
  


  
  
  
  
  


$




84,799,758


  
  
  


  
  
  
  


Movies & Entertainment - 2.2%


  
  
  
  
  


  


850,783


  
  


The Walt Disney Co.




$




89,238,629


  
  
  


  


313,543


  
  


Time Warner, Inc.


  


26,475,571


  
  
  


  
  
  
  
  


$




115,714,200


  
  
  


  
  
  
  


Publishing - 3.7%


  
  
  
  
  


  


493,699


  
  


Gannett Co, Inc.




$




18,306,359


  
  
  


  


2,736,229


  
  


John Wiley & Sons, Inc. (Class A) +


  


167,293,039


  
  
  


  


252,541


  
  


Time, Inc.


  


5,667,020


  
  
  


  
  
  
  
  


$




191,266,418


  
  
  


  
  
  
  


Total Media




$




391,780,376


  
  
  


  
  
  
  


Retailing - 5.2%


  
  
  
  
  


  
  
  
  


Department Stores - 1.6%


  
  
  
  
  


  


727,690


  
  


Macy's, Inc.




$




47,234,358


  
  
  


  


463,524


  
  


Nordstrom, Inc.


  


37,230,248


  
  
  


  
  
  
  
  


$




84,464,606


  
  
  


  
  
  
  


Apparel Retail - 2.8%


  
  
  
  
  


  


745,883


  
  


Ross Stores, Inc.




$




78,586,233


  
  
  


  


953,610


  
  


The TJX Companies, Inc.


  


66,800,380


  
  
  


  
  
  
  
  


$




145,386,613


  
  
  


  
  
  
  


Home Improvement Retail - 0.8%


  
  
  
  
  


  


357,975


  
  


The Home Depot, Inc.




$




40,669,540


  
  
  


  
  
  
  


Total Retailing




$




270,520,759


  
  
  


  
  
  
  


Food & Staples Retailing - 2.1%


  
  
  
  
  


  
  
  
  


Drug Retail - 2.1%


  
  
  
  
  


  


1,072,567


  
  


CVS Health Corp.




$




110,699,640


  
  
  


  
  
  
  


Total Food & Staples Retailing




$




110,699,640


  
  
  


  
  
  
  


Food, Beverage & Tobacco - 8.7%


  
  
  
  
  


  
  
  
  


Soft Drinks - 2.4%


  
  
  
  
  


  


1,008,042


  
  


Coca-Cola Enterprises, Inc.




$




44,555,456


  
  
  


  


392,823


  
  


Dr. Pepper Snapple Group, Inc.


  


30,828,749


  
  
  


  


1,246,636


  
  


The Coca-Cola Co.


  


50,551,090


  
  
  


  
  
  
  
  


$




125,935,295


  
  
  


  
  
  
  


Packaged Foods & Meats - 6.3%


  
  
  
  
  


  


930,715


  
  


Campbell Soup Co.




$




43,324,783


  
  
  


  


546,687


  
  


General Mills, Inc.


  


30,942,484


  
  
  


  


395,823


  
  


Kraft Foods Group, Inc.


  


34,482,121


  
  
  


  


463,191


  
  


Mead Johnson Nutrition Co.


  


46,564,591


  
  
  


  


1,476,964


  
  


Mondelez International, Inc.


  


53,303,631


  
  
  


  


1,176,506


  
  


The Hershey Co.


  


118,721,220


  
  
  


  
  
  
  
  


$




327,338,830


  
  
  


  
  
  
  


Total Food, Beverage & Tobacco




$




453,274,125


  
  
  


  
  
  
  


Household & Personal Products - 0.5%


  
  
  
  
  


  
  
  
  


Household Products - 0.5%


  
  
  
  
  


  


228,671


  
  


The Clorox Co.




$




25,242,992


  
  
  


  
  
  
  


Total Household & Personal Products




$




25,242,992


  
  
  


  
  
  
  


Health Care Equipment & Services - 8.8%


  
  
  
  
  


  
  
  
  


Health Care Equipment - 5.0%


  
  
  
  
  


  


1,112,248


  
  


Abbott Laboratories




$




51,530,450


  
  
  


  


449,863


  
  


Becton Dickinson and Co.


  


64,595,828


  
  
  


  


664,027


  
  


CR Bard, Inc.


  


111,124,918


  
  
  


  


1,824,807


  
  


Smith & Nephew Plc


  


30,992,200


  
  
  


  
  
  
  
  


$




258,243,396


  
  
  


  
  
  
  


Health Care Distributors - 1.9%


  
  
  
  
  


  


362,274


  
  


Cardinal Health, Inc.




$




32,702,474


  
  
  


  


303,690


  
  


McKesson Corp.


  


68,694,678


  
  
  


  
  
  
  
  


$




101,397,152


  
  
  


  
  
  
  


Health Care Services - 0.4%


  
  
  
  
  


  


259,702


  
  


Express Scripts Holding Co. *




$




22,534,343


  
  
  


  
  
  
  


Managed Health Care - 1.5%


  
  
  
  
  


  


459,084


  
  


Aetna, Inc.




$




48,906,219


  
  
  


  


155,845


  
  


Humana, Inc.


  


27,743,527


  
  
  


  
  
  
  
  


$




76,649,746


  
  
  


  
  
  
  


Total Health Care Equipment & Services




$




458,824,637


  
  
  


  
  
  
  


Pharmaceuticals, Biotechnology & Life Sciences - 11.9%


  
  
  
  
  


  
  
  
  


Biotechnology - 2.1%


  
  
  
  
  


  


331,620


  
  


Alnylam Pharmaceuticals, Inc. *




$




34,627,760


  
  
  


  


641,055


  
  


Celgene Corp. *


  


73,900,820


  
  
  


  
  
  
  
  


$




108,528,580


  
  
  


  
  
  
  


Pharmaceuticals - 8.7%


  
  
  
  
  


  


676,326


  
  


AbbVie, Inc.




$




39,592,124


  
  
  


  


366,397


  
  


AstraZeneca Plc (A.D.R.)


  


25,072,547


  
  
  


  


364,715


  
  


Eli Lilly & Co.


  


26,496,545


  
  
  


  


560,177


  
  


GlaxoSmithKline Plc (A.D.R.)


  


25,852,169


  
  
  


  


806,434


  
  


Johnson & Johnson


  


81,127,260


  
  
  


  


319,137


  
  


Mallinckrodt Plc *


  


40,418,701


  
  
  


  


812,652


  
  


Merck & Co., Inc.


  


46,711,237


  
  
  


  


888,448


  
  


Pfizer, Inc.


  


30,909,106


  
  
  


  


73,989


  
  


Roche Holding AG


  


20,399,476


  
  
  


  


395,443


  
  


Shire Plc


  


31,496,556


  
  
  


  


1,853,184


  
  


Zoetis, Inc.


  


85,783,887


  
  
  


  
  
  
  
  


$




453,859,608


  
  
  


  
  
  
  


Life Sciences Tools & Services - 1.1%


  
  
  
  
  


  


426,090


  
  


Thermo Fisher Scientific, Inc.




$




57,240,931


  
  
  


  
  
  
  


Total Pharmaceuticals, Biotechnology & Life Sciences




$




619,629,119


  
  
  


  
  
  
  


Banks - 8.0%


  
  
  
  
  


  
  
  
  


Diversified Banks - 5.6%


  
  
  
  
  


  


3,230,169


  
  


Bank of America Corp.




$




49,712,301


  
  
  


  


643,019


  
  


Citigroup, Inc.


  


33,128,339


  
  
  


  


1,601,885


  
  


US Bancorp/MN


  


69,954,318


  
  
  


  


2,598,318


  
  


Wells Fargo & Co.


  


141,348,499


  
  
  


  
  
  
  
  


$




294,143,457


  
  
  


  
  
  
  


Regional Banks - 2.4%


  
  
  
  
  


  


976,432


  
  


BB&T Corp.




$




38,071,084


  
  
  


  


285,055


  
  


Citizens Financial Group, Inc.


  


6,878,377


  
  
  


  


866,429


  
  


The PNC Financial Services Group, Inc.


  


80,785,840


  
  
  


  
  
  
  
  


$




125,735,301


  
  
  


  
  
  
  


Total Banks




$




419,878,758


  
  
  


  
  
  
  


Diversified Financials - 5.5%


  
  
  
  
  


  
  
  
  


Consumer Finance - 2.0%


  
  
  
  
  


  


879,633


  
  


American Express Co.




$




68,716,930


  
  
  


  


668,962


  
  


Discover Financial Services, Inc.


  


37,696,009


  
  
  


  
  
  
  
  


$




106,412,939


  
  
  


  
  
  
  


Asset Management & Custody Banks - 1.9%


  
  
  
  
  


  


698,337


  
  


Franklin Resources, Inc.




$




35,838,655


  
  
  


  


713,112


  
  


Invesco, Ltd.


  


28,303,415


  
  
  


  


464,270


  
  


State Street Corp.


  


34,137,773


  
  
  


  
  
  
  
  


$




98,279,843


  
  
  


  
  
  
  


Investment Banking & Brokerage - 1.6%


  
  
  
  
  


  


1,407,142


  
  


Morgan Stanley Co.




$




50,220,898


  
  
  


  


1,081,989


  
  


The Charles Schwab Corp.


  


32,935,745


  
  
  


  
  
  
  
  


$




83,156,643


  
  
  


  
  
  
  


Total Diversified Financials




$




287,849,425


  
  
  


  
  
  
  


Insurance - 2.8%


  
  
  
  
  


  
  
  
  


Property & Casualty Insurance - 2.8%


  
  
  
  
  


  


933,138


  
  


The Chubb Corp.




$




94,340,252


  
  
  


  


452,398


  
  


The Travelers Companies, Inc.


  


48,917,796


  
  
  


  
  
  
  
  


$




143,258,048


  
  
  


  
  
  
  


Total Insurance




$




143,258,048


  
  
  


  
  
  
  


Real Estate - 0.1%


  
  
  
  
  


  
  
  
  


Specialized REIT - 0.1%


  
  
  
  
  


  


111,463


  
  


Outfront Media, Inc.




$




3,334,973


  
  
  


  
  
  
  


Total Real Estate




$




3,334,973


  
  
  


  
  
  
  


Software & Services - 9.7%


  
  
  
  
  


  
  
  
  


Internet Software & Services - 3.2%


  
  
  
  
  


  


486,981


  
  


eBay, Inc. *




$




28,089,064


  
  
  


  


701,962


  
  


Facebook, Inc. *


  


57,711,806


  
  
  


  


94,187


  
  


Google, Inc. (Class A) *


  


52,245,529


  
  
  


  


49,130


  
  


Google, Inc. (Class C)


  


26,923,240


  
  
  


  
  
  
  
  


$




164,969,639


  
  
  


  
  
  
  


IT Consulting & Other Services - 0.4%


  
  
  
  
  


  


132,583


  
  


International Business Machines Corp.




$




21,279,572


  
  
  


  
  
  
  


Data Processing & Outsourced Services - 2.9%


  
  
  
  
  


  


456,944


  
  


Automatic Data Processing, Inc.




$




39,132,684


  
  
  


  


337,469


  
  


DST Systems, Inc.


  


37,361,193


  
  
  


  


620,487


  
  


Fiserv, Inc. *


  


49,266,668


  
  
  


  


389,732


  
  


Visa, Inc.


  


25,492,370


  
  
  


  
  
  
  
  


$




151,252,915


  
  
  


  
  
  
  


Application Software - 0.1%


  
  
  
  
  


  


127,726


  
  


CDK Global, Inc.




$




5,972,468


  
  
  


  
  
  
  


Systems Software - 3.1%


  
  
  
  
  


  


320,360


  
  


Check Point Software Technologies, Ltd. *




$




26,259,909


  
  
  


  


2,882,677


  
  


Microsoft Corp.


  


117,195,233


  
  
  


  


878,052


  
  


Symantec Corp.


  


20,515,685


  
  
  


  
  
  
  
  


$




163,970,827


  
  
  


  
  
  
  


Total Software & Services




$




507,445,421


  
  
  


  
  
  
  


Technology Hardware & Equipment - 5.1%


  
  
  
  
  


  
  
  
  


Communications Equipment - 0.9%


  
  
  
  
  


  


392,255


  
  


F5 Networks, Inc. *




$




45,085,790


  
  
  


  
  
  
  


Computer Storage & Peripherals - 3.7%


  
  
  
  
  


  


1,150,874


  
  


Apple, Inc.




$




143,203,252


  
  
  


  


2,047,817


  
  


EMC Corp.


  


52,342,203


  
  
  


  
  
  
  
  


$




195,545,455


  
  
  


  
  
  
  


Technology Hardware, Storage & Peripherals - 0.5%


  
  
  
  
  


  


778,892


  
  


NetApp, Inc.




$




27,619,510


  
  
  


  
  
  
  


Total Technology Hardware & Equipment




$




268,250,755


  
  
  


  
  
  
  


Semiconductors & Semiconductor Equipment - 1.4%


  
  
  
  
  


  
  
  
  


Semiconductor Equipment - 0.5%


  
  
  
  
  


  


261,975


  
  


ASML Holding NV (A.D.R.)




$




26,467,334


  
  
  


  
  
  
  


Semiconductors - 0.9%


  
  
  
  
  


  


764,777


  
  


Analog Devices, Inc.




$




48,180,951


  
  
  


  
  
  
  


Total Semiconductors & Semiconductor Equipment




$




74,648,285


  
  
  


  
  
  
  


Utilities - 1.5%


  
  
  
  
  


  
  
  
  


Electric Utilities - 1.5%


  
  
  
  
  


  


761,567


  
  


American Electric Power Co., Inc.




$




42,838,144


  
  
  


  


323,214


  
  


NextEra Energy, Inc.


  


33,630,417


  
  
  


  
  
  
  
  


$




76,468,561


  
  
  


  
  
  
  


Total Utilities




$




76,468,561


  
  
  


  
  
  
  


TOTAL COMMON STOCKS


  
  
  
  
  


  
  
  
  


(Cost $3,118,681,449)




$




5,220,943,136


  
  
  


  
  
  
  
  
  
  
  
  
  


  
  
  
  


TOTAL INVESTMENT IN SECURITIES - 100.0%


  
  
  
  
  


  
  
  
  


(Cost $3,118,681,449) (a)




$




5,220,943,136


  
  
  


  
  
  
  
  
  
  
  
  
  


  
  
  
  


OTHER ASSETS & LIABILITIES - 0.0%




$




2,333,521


  
  
  


  
  
  
  
  
  
  
  
  
  


  
  
  
  


TOTAL NET ASSETS - 100.0%




$




5,223,276,657


  
  
  


  
  
  
  
  
  
  
  
  
  


  


*


  
  


Non-income producing security.


  
  
  
  
  


  
  
  
  
  
  
  
  
  
  


  


+


  
  


Investment held by the Fund representing 5% or more of the outstanding voting stock of such company.


  
  
  
  


  
  
  
  
  
  
  
  
  
  


  


(A.D.R.)


  
  


American Depositary Receipts.


  
  
  
  
  


  
  
  
  
  
  
  
  
  
  


  


REIT


  
  


Real Estate Investment Trust.


  
  
  
  
  


  
  
  
  
  
  
  
  
  
  


  


(a)


  
  


At March 31, 2015, the net unrealized appreciation on investments based on


  
  
  
  
  


  
  
  
  


cost for federal income tax purposes of $3,118,681,449 was as follows:


  
  
  
  
  


  
  
  
  
  
  
  
  
  
  


  
  
  
  


Aggregate gross unrealized appreciation for all investments in which


  
  
  
  
  


  
  
  
  


there is an excess of value over tax cost




$




         2,157,051,215


  
  
  


  
  
  
  
  
  
  
  
  
  


  
  
  
  


Aggregate gross unrealized depreciation for all investments in which


  
  
  
  
  


  
  
  
  


there is an excess of tax cost over value


  


            (54,789,528)


  
  
  


  
  
  
  
  
  
  
  
  
  


  
  
  
  


Net unrealized appreciation




$




         2,102,261,687


  
  
  


  
  
  
  
  
  
  
  
  
  




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.)  See Notes to Financial Statements — Note 1A.






Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)  See Notes to Financial Statements — Note 1A.




  
  
  
  
  
  
  
  
  
  




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 or broker-dealers) as Level 3.


  
  
  
  
  


  
  
  
  
  
  
  
  
  
  




The following is a summary of the inputs used as of March 31, 2015, in valuing the Fund's investments:


  
  
  
  
  


  
  
  
  
  
  
  
  
  
  

















  
 


Level 1


 
 


Level 2


 
 


Level 3


 
 


Total


 




Common Stocks


 
$
5,220,943,136
 
 
$
-
 
 
$
-
 
 
$
5,220,943,136
 




Total


 
$
5,220,943,136
 
 
$
-
 
 
$
-
 
 
$
5,220,943,136
 


  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




During the period ended March 31, 2015, there were no transfers between Levels 1, 2 and 3.


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 











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