PIONEER VARIABLE CONTRACTS TRUST
Pioneer Equity Income VCT Portfolio — Class I and II Shares
Schedule of Investments
March 31, 2021
Shares | Value | ||||
UNAFFILIATED ISSUERS - 99.5% | |||||
COMMON STOCKS - 99.5% of Net Assets | |||||
Air Freight & Logistics - 0.6% | |||||
6,878 | CH Robinson Worldwide, Inc. | $656,367 | |||
Total Air Freight & Logistics | $656,367 | ||||
Auto Components - 1.3% | |||||
31,449 | BorgWarner, Inc. | $1,457,976 | |||
Total Auto Components | $1,457,976 | ||||
Automobiles - 0.5% | |||||
20,507 | Honda Motor Co. Ltd. (A.D.R.) | $619,311 | |||
Total Automobiles | $619,311 | ||||
Banks - 7.7% | |||||
62,916 | Bank of America Corp. | $2,434,220 | |||
6,804 | Canadian Imperial Bank of Commerce | 665,908 | |||
11,215 | JPMorgan Chase & Co. | 1,707,260 | |||
9,389 | M&T Bank Corp. | 1,423,466 | |||
10,532 | PNC Financial Services Group, Inc. | 1,847,418 | |||
14,570 | Truist Financial Corp. | 849,722 | |||
Total Banks | $8,927,994 | ||||
Beverages - 0.6% | |||||
5,283 | PepsiCo., Inc. | $747,280 | |||
Total Beverages | $747,280 | ||||
Capital Markets - 4.9% | |||||
23,842 | Bank of New York Mellon Corp. | $1,127,488 | |||
9,652 | Charles Schwab Corp. | 629,117 | |||
11,528 | Northern Trust Corp. | 1,211,708 | |||
12,463 | State Street Corp. | 1,047,017 | |||
9,975 | T Rowe Price Group, Inc. | 1,711,710 | |||
Total Capital Markets | $5,727,040 | ||||
Chemicals - 3.8% | |||||
12,605 | Celanese Corp. | $1,888,355 | |||
6,299 | Corteva, Inc. | 293,659 | |||
9,433 | Dow, Inc. | 603,146 | |||
8,664 | DuPont de Nemours, Inc. | 669,554 | |||
2,194 | Ecolab, Inc. | 469,670 | |||
4,251 | FMC Corp. | 470,203 | |||
Total Chemicals | $4,394,587 | ||||
Commercial Services & Supplies - 1.1% | |||||
8,777 | MSA Safety, Inc. | $1,316,726 | |||
Total Commercial Services & Supplies | $1,316,726 | ||||
Consumer Discretionary - 0.5% | |||||
8,576 | Omnicom Group, Inc. | $635,910 | |||
Total Consumer Discretionary | $635,910 | ||||
Containers & Packaging - 0.3% | |||||
16,669 | Graphic Packaging Holding Co. | $302,709 | |||
Total Containers & Packaging | $302,709 | ||||
Diversified Telecommunication Services - 3.7% | |||||
46,820 | AT&T, Inc. | $1,417,241 | |||
11,125 | BCE, Inc. | 502,182 | |||
41,937 | Verizon Communications, Inc. | 2,438,637 | |||
Total Diversified Telecommunication Services | $4,358,060 | ||||
Electric Utilities - 3.7% | |||||
35,466 | Alliant Energy Corp. | $1,920,838 | |||
9,587 | American Electric Power Co., Inc. | 812,019 | |||
6,768 | Eversource Energy | 586,041 | |||
7,308 | NextEra Energy, Inc. | 552,558 | |||
14,750 | PPL Corp. | 425,390 | |||
Total Electric Utilities | $4,296,846 | ||||
Electrical Equipment - 0.7% | |||||
8,517 | Emerson Electric Co. | $768,404 | |||
Total Electrical Equipment | $768,404 | ||||
Electronic Equipment, Instruments & Components - 1.4% | |||||
2,576 | CDW Corp. | $426,972 | |||
9,417 | TE Connectivity, Ltd. | 1,215,829 | |||
Total Electronic Equipment, Instruments & Components | $1,642,801 | ||||
Equity Real Estate Investment Trusts (REITs) - 3.5% | |||||
11,749 | Alexandria Real Estate Equities, Inc. | $1,930,360 | |||
7,625 | Camden Property Trust | 838,064 | |||
3,508 | Digital Realty Trust, Inc. | 494,067 | |||
14,600 | Healthcare Realty Trust, Inc. | 442,672 | |||
3,318 | Prologis, Inc. | 351,708 | |||
Total Equity Real Estate Investment Trusts (REITs) | $4,056,871 | ||||
Food Products - 4.2% | |||||
1,764 | Calavo Growers, Inc. | $136,957 | |||
2,936 | Hershey Co. | 464,358 | |||
5,388 | John B Sanfilippo & Son, Inc. | 486,914 | |||
6,499 | Lamb Weston Holdings, Inc. | 503,542 | |||
9,732 | McCormick & Co., Inc. | 867,705 | |||
Shares | Value | ||||
Food Products – (continued) | |||||
28,704 | Mondelez International, Inc. | $1,680,045 | |||
6,516 | Nestle S.A. (A.D.R.) | 726,599 | |||
Total Food Products | $4,866,120 | ||||
Health Care - 0.5% | |||||
9,338 | Gilead Sciences, Inc. | $603,515 | |||
Total Health Care | $603,515 | ||||
Health Care Equipment & Supplies - 3.2% | |||||
18,312 | Abbott Laboratories | $2,194,510 | |||
2,759 | Becton Dickinson and Co. | 670,851 | |||
23,096 | Smith & Nephew Plc (A.D.R.) | 875,338 | |||
Total Health Care Equipment & Supplies | $3,740,699 | ||||
Health Care Providers & Services - 4.0% | |||||
8,602 | AmerisourceBergen Corp. | $1,015,638 | |||
2,351 | Anthem, Inc. | 843,891 | |||
10,825 | CVS Health Corp. | 814,365 | |||
2,247 | Humana, Inc. | 942,055 | |||
8,487 | Quest Diagnostics, Inc. | 1,089,222 | |||
Total Health Care Providers & Services | $4,705,171 | ||||
Hotels, Restaurants & Leisure - 0.7% | |||||
16,341(a) | Cedar Fair LP | $811,821 | |||
Total Hotels, Restaurants & Leisure | $811,821 | ||||
Household Durables - 0.3% | |||||
2,588 | Garmin Ltd. | $341,228 | |||
Total Household Durables | $341,228 | ||||
Household Products - 1.7% | |||||
7,536 | Clorox Co. | $1,453,544 | |||
4,277 | Procter & Gamble Co. | 579,234 | |||
Total Household Products | $2,032,778 | ||||
Industrial Conglomerates - 1.2% | |||||
6,686 | Honeywell International, Inc. | $1,451,330 | |||
Total Industrial Conglomerates | $1,451,330 | ||||
Insurance - 5.2% | |||||
11,995 | Chubb, Ltd. | $1,894,850 | |||
9,606 | First American Financial Corp. | 544,180 | |||
21,947 | Lincoln National Corp. | 1,366,640 | |||
45,076 | Sun Life Financial, Inc. | 2,278,592 | |||
Total Insurance | $6,084,262 | ||||
IT Services - 3.7% | |||||
2,185 | Accenture Plc | $603,606 | |||
3,365 | Automatic Data Processing, Inc. | 634,202 | |||
3,090 | Broadridge Financial Solutions, Inc. | 473,079 | |||
5,835 | Cognizant Technology Solutions Corp. | 455,830 | |||
4,154 | Fidelity National Information Services, Inc. | 584,094 | |||
9,029 | Leidos Holdings, Inc. | 869,312 | |||
6,839 | Paychex, Inc. | 670,359 | |||
Total IT Services | $4,290,482 | ||||
Machinery - 6.1% | |||||
5,271 | Caterpillar, Inc. | $1,222,187 | |||
56,381 | Gorman-Rupp Co. | 1,866,775 | |||
21,184 | Komatsu, Ltd. (A.D.R.) | 661,576 | |||
5,572 | Oshkosh Corp. | 661,174 | |||
18,895 | PACCAR, Inc. | 1,755,723 | |||
11,477 | Timken Co. | 931,588 | |||
Total Machinery | $7,099,023 | ||||
Media - 1.3% | |||||
19,278 | Comcast Corp. | $1,043,133 | |||
17,967 | Interpublic Group of Cos., Inc. | 524,636 | |||
Total Media | $1,567,769 | ||||
Metals & Mining - 6.3% | |||||
12,842 | Kaiser Aluminum Corp. | $1,419,041 | |||
14,427 | Materion Corp. | 955,645 | |||
10,070 | Newmont Corp. | 606,919 | |||
24,798 | Nucor Corp. | 1,990,535 | |||
15,824 | Reliance Steel & Aluminum Co. | 2,409,837 | |||
Total Metals & Mining | $7,381,977 | ||||
Multiline Retail - 1.5% | |||||
8,827 | Target Corp. | $1,748,364 | |||
Total Multiline Retail | $1,748,364 | ||||
Multi-Utilities - 3.1% | |||||
13,617 | Ameren Corp. | $1,107,879 | |||
12,023 | CMS Energy Corp. | 736,048 | |||
18,689 | WEC Energy Group, Inc. | 1,749,104 | |||
Total Multi-Utilities | $3,593,031 | ||||
Oil, Gas & Consumable Fuels - 5.2% | |||||
12,935 | Chevron Corp. | $1,355,459 | |||
15,522 | ConocoPhillips | 822,200 | |||
26,716 | Marathon Petroleum Corp. | 1,429,039 | |||
Shares | Value | ||||
Oil, Gas & Consumable Fuels – (continued) | |||||
17,584 | Phillips 66 | $1,433,799 | |||
15,078 | Valero Energy Corp. | 1,079,585 | |||
Total Oil, Gas & Consumable Fuels | $6,120,082 | ||||
Pharmaceuticals - 5.3% | |||||
35,177 | AstraZeneca Plc (A.D.R.) | $1,749,000 | |||
12,674 | Eli Lilly & Co. | 2,367,757 | |||
21,456 | Novo Nordisk AS (A.D.R.) | 1,446,564 | |||
17,328 | Pfizer, Inc. | 627,793 | |||
Total Pharmaceuticals | $6,191,114 | ||||
Semiconductors & Semiconductor Equipment - 6.4% | |||||
8,754 | Analog Devices, Inc. | $1,357,570 | |||
3,010 | CMC Materials, Inc. | 532,138 | |||
15,846 | Intel Corp. | 1,014,144 | |||
8,230 | KLA-Tencor Corp. | 2,719,192 | |||
9,513 | Texas Instruments, Inc. | 1,797,862 | |||
Total Semiconductors & Semiconductor Equipment | $7,420,906 | ||||
Specialty Retail - 0.5% | |||||
9,607 | TJX Cos., Inc. | $635,503 | |||
Total Specialty Retail | $635,503 | ||||
Technology Hardware, Storage & Peripherals - 0.5% | |||||
38,923 | Hewlett Packard Enterprise Co. | $612,648 | |||
Total Technology Hardware, Storage & Peripherals | $612,648 | ||||
Textiles, Apparel & Luxury Goods - 2.0% | |||||
11,938(a) | Carter's, Inc. | $1,061,646 | |||
15,545 | VF Corp. | 1,242,357 | |||
Total Textiles, Apparel & Luxury Goods | $2,304,003 | ||||
Trading Companies & Distributors - 1.9% | |||||
23,586 | Fastenal Co. | $1,185,904 | |||
8,052 | Ferguson Plc | 967,287 | |||
Total Trading Companies & Distributors | $2,153,191 | ||||
Water Utilities - 0.4% | |||||
2,814 | American Water Works Co., Inc. | $421,875 | |||
Total Water Utilities | $421,875 | ||||
TOTAL COMMON STOCKS | |||||
(Cost $77,057,359) | $116,085,774 | ||||
TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS - 99.5% | |||||
(Cost $77,057,359) | $116,085,774 | ||||
OTHER ASSETS AND LIABILITIES - 0.5% | $622,258 | ||||
NET ASSETS - 100.0% | $116,708,032 |
REIT | Real Estate Investment Trust. |
(A.D.R.) | American Depositary Receipts. |
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 March 31, 2021, in valuing the Portfolio's investments: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks | $ | 116,085,774 | $ | – | $ | – | $ | 116,085,774 | ||||||||
Total Investments in Securities | $ | 116,085,774 | $ | – | $ | – | $ | 116,085,774 | ||||||||
For the three months ended March 31, 2021, there were no transfers in or out of Level 3.