NPORT-EX 2 AAPI440AMU093022.htm
Pioneer Variable Contracts Trust
Pioneer Mid Cap Value
VCT Portfolio
Class I and II Shares
Schedule of Investments  |  September 30, 2022
Pioneer Mid Cap Value VCT Portfolio Pioneer Variable Contracts Trust
Schedule of Investments 9/30/22 (unaudited) 
Shares           Value
  UNAFFILIATED ISSUERS — 100.0%  
  Common Stocks — 97.5% of Net Assets  
  Auto Components — 1.8%  
14,635 Lear Corp. $ 1,751,663
  Total Auto Components  $1,751,663
  Banks — 10.9%  
66,520 Citizens Financial Group, Inc. $ 2,285,627
15,238 M&T Bank Corp.  2,686,764
27,319 Popular, Inc.  1,968,607
86,470 Regions Financial Corp.  1,735,453
39,612 Zions Bancorp N.A.  2,014,667
  Total Banks $10,691,118
  Beverages — 1.3%  
27,384 Molson Coors Beverage Co., Class B $ 1,314,158
  Total Beverages  $1,314,158
  Building Products — 1.4%  
9,632 Trane Technologies Plc $ 1,394,810
  Total Building Products  $1,394,810
  Capital Markets — 2.9%  
47,291 State Street Corp. $ 2,875,766
  Total Capital Markets  $2,875,766
  Chemicals — 1.3%  
27,713 Dow, Inc. $ 1,217,432
  Total Chemicals  $1,217,432
  Communications Equipment — 1.6%  
6,827 Motorola Solutions, Inc. $ 1,529,043
  Total Communications Equipment  $1,529,043
  Consumer Finance — 1.2%  
12,544 Discover Financial Services $ 1,140,500
  Total Consumer Finance  $1,140,500
  Containers & Packaging — 3.6%  
99,655 Graphic Packaging Holding Co. $ 1,967,190
35,297 Sealed Air Corp.  1,571,069
  Total Containers & Packaging  $3,538,259
  Electric Utilities — 2.3%  
58,688 Exelon Corp. $ 2,198,452
  Total Electric Utilities  $2,198,452
  Electrical Equipment — 3.6%  
12,594 Eaton Corp. Plc $ 1,679,536
25,095 Emerson Electric Co.  1,837,456
  Total Electrical Equipment  $3,516,992
  Electronic Equipment, Instruments & Components — 3.2%  
7,490 CDW Corp. $ 1,169,039
5,862(a) Keysight Technologies, Inc.     922,445
26,176 National Instruments Corp.    987,882
  Total Electronic Equipment, Instruments & Components  $3,079,366
1
Pioneer Mid Cap Value VCT Portfolio Pioneer Variable Contracts Trust
Shares           Value
  Energy Equipment & Services — 1.8%  
47,991 Baker Hughes Co. $ 1,005,891
29,338 Halliburton Co.    722,302
  Total Energy Equipment & Services  $1,728,193
  Entertainment — 0.5%  
43,198(a) Warner Bros Discovery, Inc. $   496,777
  Total Entertainment    $496,777
  Equity Real Estate Investment Trusts (REITs) — 9.6%  
7,831 Camden Property Trust $   935,413
7,896 Equity LifeStyle Properties, Inc.     496,185
9,015 Extra Space Storage, Inc.  1,556,981
15,853 First Industrial Realty Trust, Inc.     710,373
30,855 Gaming and Leisure Properties, Inc.  1,365,025
31,272 Host Hotels & Resorts, Inc.     496,599
75,408 Kimco Realty Corp.  1,388,261
22,019 Omega Healthcare Investors, Inc.     649,340
2,723 SBA Communications Corp.     775,102
15,773 Welltower, Inc.  1,014,519
  Total Equity Real Estate Investment Trusts (REITs)  $9,387,798
  Food Products — 0.8%  
34,867(a) Hostess Brands, Inc. $   810,309
  Total Food Products    $810,309
  Health Care Equipment & Supplies — 2.1%  
19,483 Zimmer Biomet Holdings, Inc. $ 2,036,948
  Total Health Care Equipment & Supplies  $2,036,948
  Health Care Providers & Services — 2.2%  
31,929 Cardinal Health, Inc. $ 2,129,026
  Total Health Care Providers & Services  $2,129,026
  Hotels, Restaurants & Leisure — 5.8%  
15,803 Darden Restaurants, Inc. $ 1,996,235
18,915(a) Expedia Group, Inc.  1,772,146
15,533 Hilton Worldwide Holdings, Inc.  1,873,591
  Total Hotels, Restaurants & Leisure  $5,641,972
  Household Durables — 1.6%  
20,682 Lennar Corp., Class A $ 1,541,843
  Total Household Durables  $1,541,843
  Insurance — 5.7%  
31,496 Aflac, Inc. $ 1,770,075
37,834 Hartford Financial Services Group, Inc.  2,343,438
69,409 Old Republic International Corp.  1,452,730
  Total Insurance  $5,566,243
  Life Sciences Tools & Services — 1.0%  
20,627(a) Syneos Health, Inc. $   972,563
  Total Life Sciences Tools & Services    $972,563
  Machinery — 5.3%  
17,014 AGCO Corp. $ 1,636,236
2
Pioneer Mid Cap Value VCT Portfolio Pioneer Variable Contracts Trust
Schedule of Investments 9/30/22 (unaudited) (continued)
Shares           Value
  Machinery — (continued)  
43,376 Ingersoll Rand, Inc. $ 1,876,446
19,836 PACCAR, Inc.  1,660,075
  Total Machinery  $5,172,757
  Media — 2.4%  
42,246 Interpublic Group of Cos., Inc. $ 1,081,498
33,010(a) Liberty Media Corp.-Liberty SiriusXM  1,244,807
  Total Media  $2,326,305
  Metals & Mining — 2.2%  
12,295 Reliance Steel & Aluminum Co. $ 2,144,371
  Total Metals & Mining  $2,144,371
  Multi-Utilities — 4.2%  
71,577 CenterPoint Energy, Inc. $ 2,017,040
37,708 Public Service Enterprise Group, Inc.  2,120,321
  Total Multi-Utilities  $4,137,361
  Oil, Gas & Consumable Fuels — 5.3%  
14,767 Chord Energy Corp. $ 2,019,683
76,200 Coterra Energy, Inc.  1,990,344
47,539 Range Resources Corp.  1,200,835
  Total Oil, Gas & Consumable Fuels  $5,210,862
  Pharmaceuticals — 0.7%  
31,050 Organon & Co. $   726,570
  Total Pharmaceuticals    $726,570
  Real Estate Management & Development — 0.6%  
9,074(a) CBRE Group, Inc., Class A $   612,586
  Total Real Estate Management & Development    $612,586
  Road & Rail — 1.4%  
8,538 JB Hunt Transport Services, Inc. $ 1,335,514
  Total Road & Rail  $1,335,514
  Semiconductors & Semiconductor Equipment — 0.8%  
9,656 MKS Instruments, Inc. $   797,972
  Total Semiconductors & Semiconductor Equipment    $797,972
  Software — 0.8%  
12,589 Dolby Laboratories, Inc., Class A $   820,173
  Total Software    $820,173
  Specialty Retail — 3.8%  
2,280(a) O'Reilly Automotive, Inc. $ 1,603,638
24,782 Ross Stores, Inc.  2,088,379
  Total Specialty Retail  $3,692,017
  Technology Hardware, Storage & Peripherals — 1.2%  
101,460 Hewlett Packard Enterprise Co. $ 1,215,491
  Total Technology Hardware, Storage & Peripherals  $1,215,491
  Textiles, Apparel & Luxury Goods — 1.2%  
13,836 Ralph Lauren Corp. $ 1,175,091
  Total Textiles, Apparel & Luxury Goods  $1,175,091
3
Pioneer Mid Cap Value VCT Portfolio Pioneer Variable Contracts Trust
Shares           Value
  Trading Companies & Distributors — 1.4%  
32,296(a) AerCap Holdings NV $ 1,367,090
  Total Trading Companies & Distributors  $1,367,090
  Total Common Stocks
(Cost $95,351,423) 		$95,293,391
 
  SHORT TERM INVESTMENTS — 2.5% of Net Assets  
  Open-End Fund — 2.5%  
2,483,919(b) Dreyfus Government Cash Management,
  Institutional Shares, 2.75% 		$ 2,483,919
             $2,483,919
  TOTAL SHORT TERM INVESTMENTS
(Cost $2,483,919) 		 $2,483,919
  TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 100.0%
(Cost $97,835,342) 		$97,777,310
  OTHER ASSETS AND LIABILITIES — (0.0)%†    $(21,462)
  net assets — 100.0% $97,755,848
             
(a) Non-income producing security.
(b) Rate periodically changes. Rate disclosed is the 7-day yield at September 30, 2022.
† Amount rounds to less than 0.1%.
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).
  Level 1 Level 2 Level 3 Total
Common Stocks $95,293,391 $— $— $95,293,391
Open-End Fund 2,483,919 — — 2,483,919
Total Investments in Securities $97,777,310 $— $— $97,777,310
During the period ended September 30, 2022, there were no transfers in or out of Level 3.
4