-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GKyAU02iXS0ZQBj5bKhD026kKnELNWKQQz43mXVn5bZ89Z2w5NFx1aroWQXDT1c+ oKnrjS0nQVJp/qBY7k9r8g== 0000869356-04-000019.txt : 20040929 0000869356-04-000019.hdr.sgml : 20040929 20040929105430 ACCESSION NUMBER: 0000869356-04-000019 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040731 FILED AS OF DATE: 20040929 DATE AS OF CHANGE: 20040929 EFFECTIVENESS DATE: 20040929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PIONEER EQUITY INCOME FUND CENTRAL INDEX KEY: 0000869356 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-08657 FILM NUMBER: 041051530 BUSINESS ADDRESS: STREET 1: 60 STATE STREET CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6174224960 MAIL ADDRESS: STREET 1: 60 STATE STREET 19TH FLOOR CITY: BOSTON STATE: MA ZIP: 02109-1820 N-Q 1 nq.txt OMB APPROVAL OMB Number: 3235-0578 Expires: February 28, 2006 Estimated average burden hours per response..... 20.0 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-08657 Pioneer Equity Income Fund (Exact name of registrant as specified in charter) 60 State Street, Boston, MA 02109 (Address of principal executive offices) (ZIP code) Dorothy E. Bourassa, 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: October 31 Date of reporting period: July 31, 2004 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 30b1-5under the Investment Company Act of 1940 (17 CFR 270.30b-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. ITEM 1. Schedule of Investments. Pioneer Equity Income Fund Schedule of Investments 7/31/04 (unaudited) Principal Amount CONVERTIBLE PREFERRED STOCKS - 1.1 % Value Automobiles & Components - 1.1 % Automobile Manufacturers - 1.1 % 10,000 General Motors Corp., Series B, 5.25%, 3/6/32 $ 242,500 175,000 Ford Cap Trust, 6.50%, 1/15/32 9,327,500 $ 9,570,000 Total Automobiles & Components $ 9,570,000 TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $8,457,820) $ 9,570,000 CONVERTIBLE CORORATE BOND - 0.1 % Retailing - 0.1 % Apparel Retail - 0.1 % 800,000 GAP, Inc., 5.75%, 3/15/09 $ 1,165,000 Total Retailing $ 1,165,000 TOTAL CONVERTIBLE CORPORATE BOND (Cost $800,000) $ 1,165,000 Shares COMMON STOCKS - 98.5 % Energy - 12.9 % Integrated Oil & Gas - 12.9 % 458,780 ConocoPhillips $ 36,138,101 405,700 ChevronTexaco Corp. 38,805,205 100,000 Occidental Petroleum Corp. 4,927,000 633,878 Exxon Mobil Corp. 29,348,551 $ 109,218,857 Total Energy $ 109,218,857 Materials - 5.0 % Commodity Chemicals - 1.7 % 200,000 Air Products & Chemicals, Inc. $ 10,350,000 105,232 E.I. du Pont de Nemours and Co. 4,511,296 $ 14,861,296 Construction Materials - 0.6 % 100,000 Vulcan Materials Co. $ 4,762,000 Diversified Chemical - 0.7 % 100,000 PPG Industries, Inc. $ 5,895,000 Paper Products - 0.8 % 230,000 Meadwestvaco Corp. $ 6,867,800 Specialty Chemicals - 0.3 % 50,000 Valspar Corp. $ 2,450,000 Steel - 0.9 % 513,705 Roanoke Electric Steel Corp. $ 7,484,168 Total Materials $ 42,320,264 Capital Goods - 9.1 % Aerospace & Defense - 2.7 % 125,000 Boeing Co. $ 6,343,750 168,700 General Dynamics Corp. 16,670,934 $ 23,014,684 Electrical Component & Equipment - 1.3 % 175,000 Emerson Electric Co. $ 10,622,500 Industrial Conglomerates - 2.5 % 235,600 Johnson Controls, Inc. $ 13,299,620 85,000 United Technologies Corp. 7,947,500 $ 21,247,120 Industrial Machinery - 2.6 % 505,957 Gorman-Rupp Co. $ 12,927,201 350,000 The Timken Co. 8,694,000 $ 21,621,201 Total Capital Goods $ 76,505,505 Transportation - 0.4 % Railroads - 0.4 % 105,000 Burlington Northern, Inc. $ 3,725,400 Total Transportation $ 3,725,400 Automobiles & Components - 4.2 % Automobile Manufacturers - 4.1 % 150,000 Ford Motor Corp. $ 2,208,000 548,625 Paccar, Inc. 32,895,555 $ 35,103,555 Total Automobiles & Components $ 35,103,555 Media - 3.3 % Movies & Entertainment - 1.9 % 531,200 Cedar Fair, L.P. (a) $ 15,840,384 Publishing - 1.4 % 160,000 McGraw-Hill Co., Inc. $ 12,009,600 Total Media $ 27,849,984 Retailing - 1.8 % Department Stores - 1.2 % 100,000 J.C. Penney Co., Inc. $ 4,000,000 241,000 May Department Stores Co. 6,393,730 $ 10,393,730 General Merchandise Stores - 0.6 % 140,000 Sears, Roebuck and Co. (a) $ 5,135,200 Total Retailing $ 15,528,930 Food, Beverage & Tobacco - 4.8 % Packaged Foods & Meats - 3.9 % 430,000 Campbell Soup Co. $ 11,003,700 175,000 General Mills, Inc. 7,857,500 272,550 H.J. Heinz Co., Inc. 10,054,370 184,000 Sara Lee Corp. 4,040,640 $ 32,956,210 Soft Drinks - 0.9 % 50,000 The Coca-Cola Co. $ 2,193,000 116,300 PepsiCo, Inc. 5,815,000 $ 8,008,000 Total Food, Beverage & Tobacco $ 40,964,210 Household & Personal Products - 0.8 % Household Products - 0.8 % 66,000 Colgate-Palmolive Co. $ 3,511,200 73,800 Clorox Co. 3,673,026 $ 7,184,226 Total Household & Personal Products $ 7,184,226 Health Care Equipment & Services - 3.5 % Health Care Distributors - 3.0 % 356,600 Abbott Laboratories $ 14,032,210 210,000 Johnson & Johnson 11,606,700 $ 25,638,910 Health Care Equipment - 0.5 % 88,000 Becton, Dickinson & Co. $ 4,156,240 Total Health Care Equipment & Services $ 29,795,150 Pharmaceuticals & Biotechnology - 3.3 % Pharmaceuticals - 3.3 % 200,000 Eli Lilly & Co. $ 12,744,000 290,400 Merck & Co., Inc. 13,169,640 60,000 Pfizer, Inc. 1,917,600 $ 27,831,240 Total Pharmaceuticals & Biotechnology $ 27,831,240 Banks - 13.4 % Diversified Banks - 5.7 % 600,000 Charter One Financial, Inc. $ 26,646,000 318,700 U.S. Bancorp 9,019,210 215,662 Wells Fargo & Co. 12,381,155 $ 48,046,365 Regional Banks - 6.1 % 250,000 First Horizon National Corp. $ 10,837,500 358,600 National City Corp. 13,088,900 329,400 SouthTrust Corp. 12,777,426 225,000 SunTrust Banks, Inc. 14,838,750 $ 51,542,576 Thrifts & Mortgage Finance - 1.6 % 355,000 Washington Mutual, Inc. $ 13,774,000 Total Banks $ 113,362,941 Diversified Financials - 3.8 % Asset Management & Custody Banks - 3.1 % 208,000 Eaton Vance Corp. $ 7,891,520 402,000 T. Rowe Price Associates, Inc. 18,580,440 $ 26,471,960 Investment Banking & Brokerage - 0.7 % 175,000 A.G. Edwards, Inc. $ 5,687,500 Total Diversified Financials $ 32,159,460 Insurance - 4.6 % Property & Casualty Insurance - 4.6 % 205,100 Chubb Corp. $ 14,106,778 299,300 Safeco Corp. 14,085,058 277,800 The St. Paul Travelers Companies, Inc. 10,298,046 $ 38,489,882 Total Insurance $ 38,489,882 Real Estate - 1.2 % Real Estate Investment Trust - 1.2 % 200,000 Simon DeBartolo Group, Inc. $ 10,322,000 Total Real Estate $ 10,322,000 Software & Services - 0.8 % Application Software - 0.3 % 100,000 Microsoft Corp. $ 2,846,000 Data Processing & Outsourced Services - 0.5 % 100,000 Automatic Data Processing, Inc. $ 4,198,000 Total Software & Services $ 7,044,000 Technology Hardware & Equipment - 1.5 % Computer Hardware - 1.5 % 177,550 Diebold, Inc. $ 8,185,055 150,000 Hewlett-Packard Co. 3,022,500 20,000 IBM Corp. 1,741,400 $ 12,948,955 Total Technology Hardware & Equipment $ 12,948,955 Telecommunication Services - 7.5 % Integrated Telecommunication Services - 7.5 % 184,585 Alltel Corp. $ 9,598,420 396,400 BellSouth Corp. 10,738,476 694,669 SBC Communications, Inc. 17,602,912 680,000 AT&T Corp. (a) 10,268,000 400,000 Verizon Communications, Inc. 15,416,000 $ 63,623,808 Total Telecommunication Services $ 63,623,808 Utilities - 16.3 % Electric Utilities - 10.4 % 185,000 Ameren Corp. $ 8,267,650 235,400 American Electric Power Co., Inc. 7,323,294 636,500 Constellation Energy Group 24,537,075 175,000 Consolidated Edison, Inc. 7,169,750 120,000 FPL Group, Inc. 8,079,600 384,400 Great Plains Energy, Inc. 11,028,436 190,000 NSTAR 8,892,000 440,000 Southern Co. 12,883,200 $ 88,181,005 Gas Utilities - 4.8 % 454,700 KeySpan Energy Corp. $ 16,364,653 446,600 Questar Corp. 18,301,668 237,933 Vectren Corp. 5,888,842 $ 40,555,163 Multi-Utilities & Unregulated Power - 0.5 % 80,000 Equitable Resources, Inc. $ 4,102,400 Water Utilities - 0.6 % 275,625 Aqua America Inc. $ 5,360,907 Total Utilities $ 138,199,475 TOTAL COMMON STOCKS (Cost $610,147,272) $ 832,177,842 TOTAL INVESTMENT IN SECURITIES - 99.7% (Cost $619,405,092)(a) $ 842,912,842 OTHER ASSETS AND LIABILITIES - 0.3% $ 2,356,285 TOTAL NET ASSETS - 100.0% $ 845,269,127 * Non-income producing security. (a) At July 31, 2004, the net unrealized gain on investments based on cost for federal income tax purposes of $614,308,222 was as follows: Aggregate gross unrealized gain for all investments in which there is an excess of value over tax cost $ 247,808,153 Aggregate gross unrealized loss for all investments in which there is an excess of tax cost over value (19,203,533) Net unrealized gain $ 228,604,620 (b) At July 31, 2004, the following securities were out on loan: Market Shares Description Value 100,000 AT&T Corp. $ 1,510,000 300,400 Cedar Fair, L.P. 8,957,928 130,000 Sears, Roebuck and Co. 4,768,400 Total $ 15,236,328
ITEM 2. CONTROLS AND PROCEDURES. (a) Disclose the conclusions of the registrant's principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, about 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 their evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR240.13a-15(b) or 240.15d-15(b)). The registrant's certifying officers have determined that the registrant's disclosure controls and procedures are effective based on an evaluation of these controls and procedures as of a date within 90 days prior to 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 CFR270.30a-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 controls over financial reporting that occurred during the registrant's last fiscal quarter that have materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. (a) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2). Filed herewith. 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 Equity Income Fund By (Signature and Title)* /s/ John F. Cogan, Jr. John F. Cogan, Jr, President Date September 28, 2004 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/ John F. Cogan, Jr. John F. Cogan, Jr., President Date September 28, 2004 By (Signature and Title)* /s/ Vincent Nave Vincent Nave, Treasurer Date September 28, 2004 * Print the name and title of each signing officer under his or her signature. EX-99 2 cert.txt CERTIFICATIONS - -------------- I, John F. Cogan, Jr., certify that: 1. I have reviewed this report on Form N-Q of Pioneer Equity Income Fund; 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 schedule of investments included in this report fairly presents 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 registrant's other certifying officer 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 registrant's 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 registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's 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 registrant's 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 registrant's internal control over financial reporting. Date: September 28, 2004 /s/ John F. Cogan, Jr. John F. Cogan, Jr. President CERTIFICATIONS - -------------- I, Vincent Nave, certify that: 1. I have reviewed this report on Form N-Q of Pioneer Equity Income Fund; 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 schedule of investments included in this report fairly presents 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 registrant's other certifying officer 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 registrant's 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 registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's 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 registrant's 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 registrant's internal control over financial reporting. Date: September 28, 2004 /s/ Vincent Nave Vincent Nave Treasurer -----END PRIVACY-ENHANCED MESSAGE-----