N-Q 1 fundsoi.htm PIONEER FUND SOI fundsoi.htm

                                 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:  September 30, 2016

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 9/30/2016
   
             
 
Shares
       
Value
       
COMMON STOCKS - 98.7%
   
       
Energy - 6.9%
   
       
Oil & Gas Equipment & Services - 1.2%
   
 
732,000
   
Schlumberger, Ltd.
$
57,564,480
       
Integrated Oil & Gas - 3.8%
   
 
1,736,000
   
Chevron Corp.
$
178,669,120
       
Oil & Gas Exploration & Production - 1.6%
   
 
745,000
   
EOG Resources, Inc.
$
72,048,950
       
Oil & Gas Refining & Marketing - 0.3%
   
 
175,500
   
Phillips 66
$
14,136,525
       
Total Energy
$
322,419,075
       
Materials - 3.4%
   
       
Diversified Chemicals - 1.9%
   
 
1,674,700
   
The Dow Chemical Co.
$
86,799,701
       
Fertilizers & Agricultural Chemicals - 0.1%
   
 
75,000
   
Agrium, Inc.
$
6,801,750
       
Specialty Chemicals - 1.4%
   
 
493,000
   
Ecolab, Inc.
$
60,007,960
 
44,000
   
The Valspar Corp.
 
4,667,080
         
$
64,675,040
       
Total Materials
$
158,276,491
       
Capital Goods - 6.6%
   
       
Industrial Conglomerates - 3.4%
   
 
4,180,000
   
General Electric Co.
$
123,811,600
 
276,000
   
Honeywell International, Inc.
 
32,178,840
         
$
155,990,440
       
Construction & Farm Machinery & Heavy Trucks - 0.5%
   
 
418,000
   
PACCAR, Inc.
$
24,570,040
       
Industrial Machinery - 2.7%
   
 
629,500
   
Illinois Tool Works, Inc.
$
75,439,280
 
774,000
   
Ingersoll-Rand Plc
 
52,585,560
         
$
128,024,840
       
Total Capital Goods
$
308,585,320
       
Transportation - 3.3%
   
       
Railroads - 3.3%
   
 
2,827,000
   
CSX Corp.
$
86,223,500
 
687,500
   
Union Pacific Corp.
 
67,051,875
         
$
153,275,375
       
Total Transportation
$
153,275,375
       
Media - 2.9%
   
       
Broadcasting - 0.9%
   
 
654,500
   
Scripps Networks Interactive, Inc.
$
41,554,205
       
Cable & Satellite - 0.2%
   
 
170,000
   
DISH Network Corp.
$
9,312,600
       
Movies & Entertainment - 1.7%
   
 
850,783
   
The Walt Disney Co.
$
79,003,709
       
Publishing - 0.1%
   
 
95,000
   
John Wiley & Sons, Inc. (Class A)
$
4,902,950
       
Total Media
$
134,773,464
       
Retailing - 6.8%
   
       
General Merchandise Stores - 1.1%
   
 
740,700
   
Dollar General Corp.
$
51,841,593
       
Apparel Retail - 1.9%
   
 
165,000
   
Ross Stores, Inc.
$
10,609,500
 
1,028,000
   
The TJX Companies, Inc.
 
76,873,840
         
$
87,483,340
       
Home Improvement Retail - 2.8%
   
 
1,005,500
   
The Home Depot, Inc.
$
129,387,740
       
Specialty Stores - 1.0%
   
 
630,000
   
Tiffany & Co.
$
45,756,900
       
Total Retailing
$
314,469,573
       
Food & Staples Retailing - 2.0%
   
       
Drug Retail - 2.0%
   
 
1,025,000
   
CVS Health Corp.
$
91,214,750
       
Total Food & Staples Retailing
$
91,214,750
       
Food, Beverage & Tobacco - 6.5%
   
       
Soft Drinks - 2.6%
   
 
392,823
   
Dr. Pepper Snapple Group, Inc.
$
35,868,668
 
2,050,000
   
The Coca-Cola Co.
 
86,756,000
         
$
122,624,668
       
Packaged Foods & Meats - 3.9%
   
 
900,000
   
Campbell Soup Co.
$
49,230,000
 
1,082,000
   
General Mills, Inc.
 
69,118,160
 
651,985
   
The Hershey Co.
 
62,329,766
         
$
180,677,926
       
Total Food, Beverage & Tobacco
$
303,302,594
       
Household & Personal Products - 0.5%
   
       
Household Products - 0.5%
   
 
183,944
   
The Clorox Co.
$
23,026,110
       
Total Household & Personal Products
$
23,026,110
       
Health Care Equipment & Services - 6.6%
   
       
Health Care Equipment - 5.6%
   
 
670,000
   
Abbott Laboratories
$
28,334,300
 
449,863
   
Becton Dickinson and Co.
 
80,853,877
 
175,004
   
CR Bard, Inc.
 
39,249,897
 
1,300,000
   
Medtronic PLC
 
112,320,000
         
$
260,758,074
       
Managed Health Care - 1.0%
   
 
386,300
   
Aetna, Inc.
$
44,598,335
       
Total Health Care Equipment & Services
$
305,356,409
       
Pharmaceuticals, Biotechnology & Life Sciences - 9.9%
   
       
Biotechnology - 2.4%
   
 
676,326
   
AbbVie, Inc.
$
42,655,881
 
652,000
   
Celgene Corp. *
 
68,153,560
         
$
110,809,441
       
Pharmaceuticals - 6.2%
   
 
435,446
   
Eli Lilly & Co.
$
34,948,896
 
4,815,000
   
Pfizer, Inc.
 
163,084,050
 
1,691,000
   
Zoetis, Inc.
 
87,948,910
         
$
285,981,856
       
Life Sciences Tools & Services - 1.3%
   
 
393,000
   
Thermo Fisher Scientific, Inc.
$
62,510,580
       
Total Pharmaceuticals, Biotechnology & Life Sciences
$
459,301,877
       
Banks - 7.2%
   
       
Diversified Banks - 5.1%
   
 
2,785,000
   
US Bancorp
$
119,448,650
 
2,700,000
   
Wells Fargo & Co.
 
119,556,000
         
$
239,004,650
       
Regional Banks - 2.1%
   
 
1,060,000
   
The PNC Financial Services Group, Inc.
$
95,495,400
       
Total Banks
$
334,500,050
       
Diversified Financials - 2.0%
   
       
Asset Management & Custody Banks - 0.0%
   
 
5,000
   
State Street Corp.
$
348,150
       
Investment Banking & Brokerage - 2.0%
   
 
566,500
   
The Goldman Sachs Group, Inc.
$
91,359,455
       
Total Diversified Financials
$
91,707,605
       
Insurance - 3.6%
   
       
Multi-line Insurance - 0.6%
   
 
632,000
   
The Hartford Financial Services Group, Inc.
$
27,062,240
       
Property & Casualty Insurance - 3.0%
   
 
702,500
   
Chubb, Ltd.
$
88,269,125
 
472,200
   
The Travelers Companies, Inc.
 
54,090,510
         
$
142,359,635
       
Total Insurance
$
169,421,875
       
Software & Services - 16.9%
   
       
Internet Software & Services - 7.6%
   
 
235,400
   
Alphabet, Inc. (Class A) *
$
189,275,724
 
49,264
   
Alphabet, Inc. (Class C) *
 
38,292,415
 
999,500
   
eBay, Inc. *
 
32,883,550
 
738,993
   
Facebook, Inc. *
 
94,790,632
         
$
355,242,321
       
Data Processing & Outsourced Services - 3.4%
   
 
457,000
   
Automatic Data Processing, Inc.
$
40,307,400
 
437,780
   
Fiserv, Inc. *
 
43,545,977
 
900,000
   
Visa, Inc.
 
74,430,000
         
$
158,283,377
       
Systems Software - 5.9%
   
 
335,000
   
Check Point Software Technologies, Ltd. *
$
25,999,350
 
3,430,000
   
Microsoft Corp.
 
197,568,000
 
1,255,000
   
Oracle Corp.
 
49,296,400
         
$
272,863,750
       
Total Software & Services
$
786,389,448
       
Technology Hardware & Equipment - 2.8%
   
       
Computer Storage & Peripherals - 2.8%
   
 
1,157,000
   
Apple, Inc.
$
130,798,850
       
Total Technology Hardware & Equipment
$
130,798,850
       
Semiconductors & Semiconductor Equipment - 3.5%
   
       
Semiconductor Equipment - 0.3%
   
 
150,500
   
Lam Research Corp.
$
14,253,855
       
Semiconductors - 3.2%
   
 
1,300,000
   
Analog Devices, Inc.
$
83,785,000
 
1,740,000
   
Intel Corp.
 
65,685,000
         
$
149,470,000
       
Total Semiconductors & Semiconductor Equipment
$
163,723,855
       
Telecommunication Services - 3.3%
   
       
Integrated Telecommunication Services - 3.3%
   
 
3,720,000
   
AT&T, Inc.
$
151,069,200
       
Total Telecommunication Services
$
151,069,200
       
Utilities - 4.0%
   
       
Electric Utilities - 4.0%
   
 
2,870,000
   
American Electric Power Co., Inc.
$
184,282,700
       
Total Utilities
$
184,282,700
       
TOTAL COMMON STOCKS
   
       
(Cost $3,116,424,917)
$
4,585,894,621
             
       
TOTAL INVESTMENT IN SECURITIES - 98.7%
   
       
(Cost $3,116,424,917) (a)
$
4,585,894,621
       
OTHER ASSETS & LIABILITIES - 1.3%
$
61,033,744
       
TOTAL NET ASSETS - 100.0%
$
4,646,928,365
             
             
 
*
   
Non-income producing security.
   
             
 
(a)
   
At September 30, 2016, the net unrealized appreciation on investments based on
       
cost for federal income tax purposes of $3,116,872,715 was as follows:
             
       
Aggregate gross unrealized appreciation for all investments in which
       
there is an excess of value over tax cost
$
                         1,471,356,193
             
       
Aggregate gross unrealized depreciation for all investments in which
       
there is an excess of tax cost over value
 
                             (2,334,287)
             
       
Net unrealized appreciation
$
                         1,469,021,906
             
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 Portfolio's own assumptions in determining fair value of investments).
             
The following is a summary of the inputs used as of September 30, 2016, in valuing the Fund's investments:
             



           
Level 1
Level 2
Level 3
Total
       
Common Stocks
 
 $                      4,585,894,621
 $           -
 $           -
 $                      4,585,894,621
       
Total
 
 $                  4,585,894,621
 $           -
 $           -
 $                  4,585,894,621
                   
       
During the period ended September 30, 2016, 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 November 28, 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 November 28, 2016 By (Signature and Title)* /s/ Mark E. Bradley ----------------- Mark E. Bradley, Treasurer and Chief Accounting and Financial Officer Date November 28, 2016 * Print the name and title of each signing officer under his or her signature.