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      </invstOrSec>
      <invstOrSec>
        <name>BROADSTONE NET LEASE INC</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MGM GROWTH PROPERTIES LLC-A</name>
        <lei>N/A</lei>
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        <assetCat>RE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL STORAGE AFFILIATES</name>
        <lei>N/A</lei>
        <title>NATIONAL STORAGE AFFILIATES 0.00000000</title>
        <cusip>637870106</cusip>
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          <isin value="US6378701063"/>
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        <balance>21450.00000000</balance>
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        <assetCat>RE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WELLTOWER INC</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
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          <isin value="US95040Q1040"/>
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        <balance>10414.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>RE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KIMCO REALTY CORP</name>
        <lei>549300EA7I6T15IBYS12</lei>
        <title>KIMCO REALTY CORP 0.00000000</title>
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          <isin value="US49446R1095"/>
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        <balance>19991.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>RE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KITE REALTY GROUP TRUST</name>
        <lei>N/A</lei>
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        <cusip>49803T300</cusip>
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          <isin value="US49803T3005"/>
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        <curCd>USD</curCd>
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        <assetCat>RE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RYMAN HOSPITALITY PROPERTIES</name>
        <lei>529900GCCWW9SRMPJR11</lei>
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        <cusip>78377T107</cusip>
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          <isin value="US78377T1079"/>
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        <assetCat>RE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ACADIA REALTY TRUST</name>
        <lei>N/A</lei>
        <title>ACADIA REALTY TRUST 0.00000000</title>
        <cusip>004239109</cusip>
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          <isin value="US0042391096"/>
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        <balance>7890.00000000</balance>
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        <assetCat>RE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JONES LANG LASALLE INC</name>
        <lei>6SYKCME112RT8TQUO411</lei>
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        <cusip>48020Q107</cusip>
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        <balance>778.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUN COMMUNITIES INC</name>
        <lei>549300H5GEOJYN41ZG57</lei>
        <title>SUN COMMUNITIES INC 0.00000000</title>
        <cusip>866674104</cusip>
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          <isin value="US8666741041"/>
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        <balance>4090.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>701026.00000000</valUSD>
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        <assetCat>RE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DIGITALBRIDGE GROUP INC</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DIGITALBRIDGE GROUP INC 0.00000000</title>
        <cusip>25401T108</cusip>
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          <isin value="US25401T1088"/>
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        <balance>14886.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>RE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SL GREEN REALTY CORP</name>
        <lei>549300VQZPJU97H3GT17</lei>
        <title>SL GREEN REALTY CORP 0.00000000</title>
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          <isin value="US78440X8048"/>
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        <balance>5538.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>RE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RETAIL PROPERTIES OF AME - A</name>
        <lei>549300OVTYLM7DH6CM14</lei>
        <title>RETAIL PROPERTIES OF AME - A 0.00000000</title>
        <cusip>76131V202</cusip>
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        <assetCat>RE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>FIRST INDUSTRIAL REALTY TR</name>
        <lei>N/A</lei>
        <title>FIRST INDUSTRIAL REALTY TR 0.00000000</title>
        <cusip>32054K103</cusip>
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        <assetCat>RE</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>VICI PROPERTIES INC</name>
        <lei>254900RKH6RY9KCJQH63</lei>
        <title>VICI PROPERTIES INC 0.00000000</title>
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        <name>HANNON ARMSTRONG SUSTAINABLE</name>
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        <name>NEW SENIOR INVESTMENT GROUP</name>
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        <name>PEBBLEBROOK HOTEL TRUST</name>
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        <name>XENIA HOTELS &amp; RESORTS INC</name>
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        <name>INDEPENDENCE REALTY TRUST IN</name>
        <lei>549300Z3L8NU44NQEB29</lei>
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        <name>CYRUSONE INC</name>
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        <name>COREPOINT LODGING INC</name>
        <lei>549300VM1I60JN1Z8171</lei>
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        <name>SAFEHOLD INC</name>
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        <title>SAFEHOLD INC 0.00000000</title>
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        <fairValLevel>1</fairValLevel>
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        <name>NEXPOINT RESIDENTIAL</name>
        <lei>549300U2J6XVYBF87166</lei>
        <title>NEXPOINT RESIDENTIAL 0.00000000</title>
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      <invstOrSec>
        <name>MACERICH CO/THE</name>
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        <balance>11741.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>213921.02000000</valUSD>
        <pctVal>0.868440743996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LAMAR ADVERTISING CO-A</name>
        <lei>529900Y8WW4MKVPTB543</lei>
        <title>LAMAR ADVERTISING CO-A 0.00000000</title>
        <cusip>512816109</cusip>
        <identifiers>
          <isin value="US5128161099"/>
        </identifiers>
        <balance>1101.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>114966.42000000</valUSD>
        <pctVal>0.466721425129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Pioneer Variable Contracts Trust /MA/</ncom:nameOfApplicant>
      <ncom:signature>Anthony J. Koenig, Jr.</ncom:signature>
      <ncom:signerName>Anthony J. Koenig, Jr.</ncom:signerName>
      <ncom:title>Treasurer and Chief Accounting and Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
