NPORT-EX 2 AAPI500AMU093022.htm
Pioneer Variable Contracts Trust
Pioneer Real Estate Shares
VCT Portfolio
Class I and II Shares
Schedule of Investments  |  September 30, 2022
Pioneer Real Estate Shares VCT Portfolio Pioneer Variable Contracts Trust
Schedule of Investments 9/30/22 (unaudited) 
Shares           Value
  UNAFFILIATED ISSUERS — 103.2%  
  Common Stocks — 98.7% of Net Assets  
  Equity Real Estate Investment Trusts (REITs) — 98.0%  
7,173 Agree Realty Corp. $   484,751
9,344 American Homes 4 Rent, Class A     306,577
4,708 Apartment Income REIT Corp.     181,823
15,251 Apartment Investment and Management Co., Class A     111,332
40,901 Apple Hospitality REIT, Inc.     575,068
8,996 Armada Hoffler Properties, Inc.      93,378
15,487(a) Ashford Hospitality Trust, Inc.     105,466
21,318 Brixmor Property Group, Inc.     393,743
2,569 Camden Property Trust     306,867
3,327 CBL & Associates Properties, Inc.      85,204
6,516 Corporate Office Properties Trust     151,367
6,683 CubeSmart     267,721
3,937 EastGroup Properties, Inc.     568,267
13,512 Equity Commonwealth     329,152
7,807 Equity LifeStyle Properties, Inc.     490,592
5,094 Extra Space Storage, Inc.     879,785
18,517 Farmland Partners, Inc.     234,610
18,088 Gaming and Leisure Properties, Inc.     800,213
4,719 Getty Realty Corp.     126,894
20,234 Invitation Homes, Inc.     683,302
10,545 Iron Mountain, Inc.     463,664
34,728 Kimco Realty Corp.     639,343
3,071 Life Storage, Inc.     340,144
4,207 Mid-America Apartment Communities, Inc.     652,380
7,329 National Health Investors, Inc.     414,308
7,491 National Storage Affiliates Trust     311,476
19,127 Omega Healthcare Investors, Inc.     564,055
4,460 Phillips Edison & Co., Inc.     125,103
4,329 Plymouth Industrial REIT, Inc.      72,771
13,254 Prologis, Inc.  1,346,606
2,862 Public Storage     838,022
13,953 Realty Income Corp.     812,065
12,257 Rexford Industrial Realty, Inc.     637,364
1,781 Ryman Hospitality Properties, Inc.     131,064
729 SBA Communications Corp.     207,510
3,004 Sun Communities, Inc.     406,531
10,822 Welltower, Inc.     696,071
4,195 WP Carey, Inc.    292,811
  Total Equity Real Estate Investment Trusts (REITs) $16,127,400
  Household Durables — 0.7%  
1,674 Lennar Corp., Class A $   124,797
  Total Household Durables    $124,797
  Total Common Stocks
(Cost $16,027,827) 		$16,252,197
 
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Pioneer Real Estate Shares VCT Portfolio Pioneer Variable Contracts Trust
Shares           Value
  SHORT TERM INVESTMENTS — 4.5% of Net Assets  
  Open-End Fund — 4.5%  
734,377(b) Dreyfus Government Cash Management,
  Institutional Shares, 2.75% 		$   734,377
               $734,377
  TOTAL SHORT TERM INVESTMENTS
(Cost $734,377) 		   $734,377
  TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 103.2%
(Cost $16,762,204) 		$16,986,574
  OTHER ASSETS AND LIABILITIES — (3.2)%   $(523,812)
  net assets — 100.0% $16,462,762
             
(a) Non-income producing security.
(b) Rate periodically changes. Rate disclosed is the 7-day yield at September 30, 2022.
Various inputs are used in determining the value of the Portfolio's investments. These inputs are summarized in the three broad levels below.
Level 1 – unadjusted 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 risks, 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, 2022, in valuing the Portfolio's investments:
  Level 1 Level 2 Level 3 Total
Common Stocks $16,252,197 $— $— $16,252,197
Open-End Fund 734,377 — — 734,377
Total Investments in Securities $16,986,574 $— $— $16,986,574
During the period ended September 30, 2022, there were no transfers in or out of Level 3.
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