Pioneer Municipal High Income Fund, Inc.
 
Ticker Symbol: MHI
Schedule of Investments  |  7/31/23
(unaudited) 
Principal
Amount
USD ($) 		          Value
  UNAFFILIATED ISSUERS — 154.2%  
  Municipal Bonds — 154.2% of Net Assets(a)  
  Arizona — 2.7%  
2,220,000 Industrial Development Authority of the City of Phoenix, 3rd & Indian School Assisted Living Project, 5.40%, 10/1/36 $   1,978,664
5,000,000 Maricopa County Industrial Development Authority, Commercial Metals Company, 4.00%, 10/15/47 (144A)    4,327,950
  Total Arizona    $6,306,614
  Arkansas — 5.9%  
13,700,000 Arkansas Development Finance Authority, Green Bond, 5.45%, 9/1/52 $  13,537,929
  Total Arkansas   $13,537,929
  California — 16.6%  
2,500,000 Bay Area Toll Authority, Series F-2, 2.60%, 4/1/56 $   1,703,475
535,000 California County Tobacco Securitization Agency, Series B-1, 5.00%, 6/1/49       548,204
10,000,000(b) California County Tobacco Securitization Agency, Capital Appreciation, Stanislaus County, Subordinated, Series A, 6/1/46     2,341,700
1,400,000 California Statewide Communities Development Authority, Lancer Plaza Project, 5.625%, 11/1/33     1,404,228
2,000,000 California Statewide Communities Development Authority, Loma Linda University Medical Center, 5.50%, 12/1/58 (144A)     2,005,000
11,500,000 California Statewide Communities Development Authority, Loma Linda University Medical Center, Series A, 5.00%, 12/1/46 (144A)   11,270,000
3,500,000 California Statewide Communities Development Authority, Loma Linda University Medical Center, Series A, 5.25%, 12/1/56 (144A)     3,505,250
10,235,000 City of Oroville, Oroville Hospital, 5.25%, 4/1/49     8,467,722
8,690,000 City of Oroville, Oroville Hospital, 5.25%, 4/1/54    6,917,501
  Total California   $38,163,080
  Colorado — 4.8%  
2,000,000 City & County of Denver, Airport System Revenue, Series B, 5.25%, 11/15/53 $   2,194,160
1Pioneer Municipal High Income Fund, Inc. |  | 7/31/23
Principal
Amount
USD ($) 		          Value
  Colorado — (continued)  
7,250,000 Dominion Water & Sanitation District, 5.875%, 12/1/52 $   7,201,135
1,665,000(c) Tender Option Bond Trust Receipts/Certificates, RIB, 0.00%, Series 2018, 6/1/39 (144A)    1,715,549
  Total Colorado   $11,110,844
  Connecticut — 1.5%  
3,380,000 Mohegan Tribal Finance Authority, 7.00%, 2/1/45 (144A) $   3,386,895
  Total Connecticut    $3,386,895
  District of Columbia — 3.6%  
5,825,000 District of Columbia Tobacco Settlement Financing Corp., Asset-Backed, 6.75%, 5/15/40 $   5,976,508
10,000,000(b) District of Columbia Tobacco Settlement Financing Corp., Capital Appreciation, Asset-Backed, Series A, 6/15/46    2,253,900
  Total District of Columbia    $8,230,408
  Florida — 3.6%  
3,220,000 City of Tampa, Hospital Revenue Bonds (H. LEE Moffit Cancer Center Project), Series B, 4.00%, 7/1/45 $   3,005,065
5,000,000 County of Miami-Dade, Water & Sewer System Revenue, Series A, 4.00%, 10/1/44     4,908,750
275,000 Florida Development Finance Corp., Glenridge On Palmer Ranch Project, 5.00%, 6/1/31 (144A)      267,685
  Total Florida    $8,181,500
  Georgia — 6.3%  
3,010,000 Brookhaven Development Authority, Children's Healthcare of Atlanta, Inc., Series A, 4.00%, 7/1/49 $   2,914,222
10,000,000 Brookhaven Development Authority, Children's Healthcare Of Atlanta, Inc., Series A, 4.00%, 7/1/44     9,856,700
2,500,000 County of Fulton Water & Sewerage Revenue, Series A, 2.25%, 1/1/42    1,795,475
  Total Georgia   $14,566,397
  Idaho — 2.2%  
5,000,000 Power County Industrial Development Corp., FMC Corp. Project, 6.45%, 8/1/32 $   5,015,550
  Total Idaho    $5,015,550
Pioneer Municipal High Income Fund, Inc. |  | 7/31/232
Schedule of Investments  |  7/31/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Illinois — 5.0%  
2,000,000(d) Chicago Board of Education, Series A, 5.00%, 12/1/47 $   1,980,560
704,519(b) Illinois Finance Authority, Cabs Clare Oaks Project, Series B1, 11/15/52        49,316
1,116,010(c)(e) Illinois Finance Authority, Clare Oaks Project, Series A-3, 4.00%, 11/15/52       781,207
3,500,000 Illinois Finance Authority, The Admiral at the Lake Project, 5.25%, 5/15/42     2,735,775
4,000,000 Illinois Finance Authority, The Admiral at the Lake Project, 5.50%, 5/15/54     2,965,320
915,000 Illinois Housing Development Authority, Series B, 2.15%, 10/1/41 (GNMA FNMA FHLMC COLL Insured)       700,286
2,000,000 Metropolitan Pier & Exposition Authority, McCormick Place Expansion, 4.00%, 6/15/50     1,862,600
695,000(e) Southwestern Illinois Development Authority, Village of Sauget Project, 5.625%, 11/1/26      521,250
  Total Illinois   $11,596,314
  Indiana — 1.7%  
2,000,000 City of Evansville, Silver Birch Evansville Project, 5.45%, 1/1/38 $   1,702,940
1,500,000 City of Mishawaka, Silver Birch Mishawaka Project, 5.375%, 1/1/38 (144A)     1,258,905
1,000,000 Indiana Finance Authority, Multipurpose Educational Facilities, Avondale Meadows Academy Project, 5.375%, 7/1/47    1,006,360
  Total Indiana    $3,968,205
  Iowa — 4.1%  
9,675,000 Iowa Finance Authority, Alcoa Inc. Projects, 4.75%, 8/1/42 $   9,443,767
  Total Iowa    $9,443,767
  Maine — 1.2%  
3,000,000 Maine Health & Higher Educational Facilities Authority, Series A, 4.00%, 7/1/50 $   2,792,100
  Total Maine    $2,792,100
  Maryland — 2.0%  
1,325,000 Maryland Health & Higher Educational Facilities Authority, City Neighbors, Series A, 6.75%, 7/1/44 $   1,328,498
3Pioneer Municipal High Income Fund, Inc. |  | 7/31/23
Principal
Amount
USD ($) 		          Value
  Maryland — (continued)  
3,000,000 Maryland State Transportation Authority, Series A, 3.00%, 7/1/47 $   2,331,780
1,250,000 Washington Suburban Sanitary Commission, 3.00%, 6/1/47 (CNTY GTD Insured)    1,018,338
  Total Maryland    $4,678,616
  Massachusetts — 13.6%  
4,000,000(d) Commonwealth of Massachusetts, Series C, 3.00%, 3/1/49 $   3,116,320
4,000,000 Massachusetts Development Finance Agency, Harvard University, Series A, 5.00%, 7/15/40     4,711,600
3,000,000 Massachusetts Development Finance Agency, Lowell General Hospital, Series G, 5.00%, 7/1/44     2,905,200
5,000,000 Massachusetts Development Finance Agency, Partner’s Healthcare System, 4.00%, 7/1/41     4,965,950
1,000,000 Massachusetts Development Finance Agency, Partner’s Healthcare System, 4.00%, 7/1/41       972,540
7,100,000 Massachusetts Development Finance Agency, WGBH Educational Foundation, Series A, 5.75%, 1/1/42 (AMBAC Insured)     9,031,768
1,000,000 Massachusetts Housing Finance Agency, Social Bonds, Series 223, 2.35%, 6/1/39 (GNMA FNMA FHLMC Insured)       777,000
1,000,000 Massachusetts Housing Finance Agency, Sustainability Bond, Series B-1, 2.875%, 12/1/51       690,610
2,800,000(d) Town of Arlington, 2.00%, 9/15/41     1,965,040
2,270,000(d) Town of Millbury, 4.00%, 8/15/51    2,189,211
  Total Massachusetts   $31,325,239
  Michigan — 0.4%  
990,000 David Ellis Academy-West, 5.25%, 6/1/45 $     906,820
  Total Michigan      $906,820
  Minnesota — 0.8%  
1,000,000 City of Ham Lake, DaVinci Academy, Series A, 5.00%, 7/1/47 $     928,170
1,000,000 City of Rochester, Health Care Facilities, Mayo Clinic, 4.00%, 11/15/48      981,530
  Total Minnesota    $1,909,700
  Montana — 0.0%†  
1,600,000(e) Two Rivers Authority, 7.375%, 11/1/27 $      80,000
  Total Montana       $80,000
Pioneer Municipal High Income Fund, Inc. |  | 7/31/234
Schedule of Investments  |  7/31/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  New Hampshire — 2.9%  
6,000,000 New Hampshire Health and Education Facilities Authority Act, Series A, 5.00%, 8/1/59 $   6,316,500
375,000 New Hampshire Health and Education Facilities Authority Act, Catholic Medical Centre, 3.75%, 7/1/40      321,889
  Total New Hampshire    $6,638,389
  New Jersey — 1.8%  
2,500,000 New Jersey Economic Development Authority, Continental Airlines, 5.75%, 9/15/27 $   2,505,025
1,000,000 New Jersey Economic Development Authority, Marion P. Thomas Charter School, Inc., Project, Series A, 5.375%, 10/1/50 (144A)       912,440
1,000,000 New Jersey Infrastructure Bank, Green Bond, 2.00%, 9/1/41      702,420
  Total New Jersey    $4,119,885
  New Mexico — 1.2%  
2,960,000(c) County of Otero, Otero County Jail Project, Certificate Participation, 9.00%, 4/1/28 $   2,871,200
  Total New Mexico    $2,871,200
  New York — 16.8%  
2,000,000 Erie Tobacco Asset Securitization Corp., Asset-Backed, Series A, 5.00%, 6/1/45 $   1,890,200
6,175,000 Metropolitan Transportation Authority, Green Bond, Series C-1, 4.75%, 11/15/45     6,272,133
2,000,000 Metropolitan Transportation Authority, Green Bond, Series C-1, 5.25%, 11/15/55     2,080,820
2,000,000 Metropolitan Transportation Authority, Green Bond, Series D-2, 4.00%, 11/15/48     1,868,800
3,000,000 Metropolitan Transportation Authority, Green Bond, Series E, 4.00%, 11/15/45     2,871,540
2,500,000 New York Counties Tobacco Trust IV, Settlement pass through, Series A, 5.00%, 6/1/45     2,338,450
3,000,000 New York Counties Tobacco Trust VI, Settlement pass through, Series 2B, 5.00%, 6/1/51     2,813,670
2,365,000 New York State Dormitory Authority, Columbia University, Series A, 5.00%, 10/1/50     2,788,122
2,500,000 New York State Dormitory Authority, Group 3, Series A, 3.00%, 3/15/41     2,116,500
2,000,000 New York State Housing Finance Agency, Sustainability Bonds, Series D-1, 4.20%, 11/1/52 (SONYMA FHA 542c Insured)     1,800,560
5Pioneer Municipal High Income Fund, Inc. |  | 7/31/23
Principal
Amount
USD ($) 		          Value
  New York — (continued)  
3,000,000 New York State Urban Development Corp., Group 3, Series A, 3.00%, 3/15/49 $   2,351,370
5,580,000 New York Transportation Development Corp., Delta Airlines Inc-LaGuardia, 5.00%, 10/1/40     5,637,028
1,000,000 Troy Capital Resource Corp., 4.00%, 9/1/40       930,180
2,205,177 Westchester County Healthcare Corp., Series A, 5.00%, 11/1/44     2,154,237
1,000,000 Westchester County Local Development Corp., Purchase Senior Learning Community, 4.50%, 7/1/56 (144A)      710,130
  Total New York   $38,623,740
  North Carolina — 2.7%  
2,500,000(d) County of Mecklenburg, 2.00%, 3/1/41 $   1,825,275
4,225,000(c) Tender Option Bond Trust Receipts/Certificates, RIB, 0.00%, Series 2018, 1/1/38 (144A)    4,385,381
  Total North Carolina    $6,210,656
  Ohio — 6.5%  
15,275,000 Buckeye Tobacco Settlement Financing Authority, Senior Class 2, Series B2, 5.00%, 6/1/55 $  14,240,271
1,000,000 Ohio Housing Finance Agency, Sanctuary Springboro Project, 5.45%, 1/1/38 (144A)      809,940
  Total Ohio   $15,050,211
  Oregon — 1.6%  
5,000,000 Oregon Health & Science University, Green Bond, Series A, 3.00%, 7/1/51 $   3,653,300
  Total Oregon    $3,653,300
  Pennsylvania — 6.7%  
5,000,000 Montgomery County Higher Education and Health Authority, Thomas Jefferson University, Series B, 4.00%, 5/1/52 $   4,373,100
3,500,000 Montgomery County Higher Education and Health Authority, Thomas Jefferson University, Series B, 5.00%, 5/1/57     3,590,230
4,335,000 Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania, 4.00%, 8/15/49     4,115,606
2,000,000 Pennsylvania Housing Finance Agency, Series 134A, 2.05%, 4/1/41     1,403,700
500,000 Philadelphia Authority for Industrial Development, 5.50%, 6/1/49 (144A)       511,025
Pioneer Municipal High Income Fund, Inc. |  | 7/31/236
Schedule of Investments  |  7/31/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Pennsylvania — (continued)  
1,000,000 Philadelphia Authority for Industrial Development, Global Leadership Academy Charter School Project, Series A, 5.00%, 11/15/50 $     896,090
460,000 Philadelphia Authority for Industrial Development, Greater Philadelphia Health Action, Inc., Project, Series A, 6.625%, 6/1/50      454,829
  Total Pennsylvania   $15,344,580
  Puerto Rico — 13.7%  
5,510,777(d) Commonwealth of Puerto Rico, Restructured Series A1, 4.00%, 7/1/41 $   4,739,268
3,000,000(d) Commonwealth of Puerto Rico, Restructured Series A1, 4.00%, 7/1/46     2,543,850
2,000,000 Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A, 5.00%, 7/1/37 (144A)     2,011,300
11,500,000 Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A, 5.00%, 7/1/47 (144A)   11,341,530
5,740,000 Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series B, 5.00%, 7/1/37 (144A)     5,766,576
1,000,000 Puerto Rico Electric Power Authority, Series AAA, 5.25%, 7/1/21       370,000
2,500,000 Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Restructured Series A-1, 5.00%, 7/1/58     2,439,400
2,500,000 Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Restructured Series A-2, 4.784%, 7/1/58    2,348,450
  Total Puerto Rico   $31,560,374
  Rhode Island — 1.5%  
5,900,000(e) Central Falls Detention Facility Corp., 7.25%, 7/15/35 $   1,062,000
2,500,000(c) Tender Option Bond Trust Receipts/Certificates, RIB, 0.00%, Series 2019, 9/1/47 (144A)    2,504,725
  Total Rhode Island    $3,566,725
  South Carolina — 1.2%  
2,850,000 City of Charleston Waterworks & Sewer System Revenue, 4.00%, 1/1/49 $   2,779,292
  Total South Carolina    $2,779,292
  Texas — 11.2%  
500,000 Arlington Higher Education Finance Corp., 5.45%, 3/1/49 (144A) $     524,390
1,000,000 Arlington Higher Education Finance Corp., Universal Academy, Series A, 7.00%, 3/1/34     1,011,710
5,465,000 Board of Regents of the University of Texas System, Series B, 5.00%, 8/15/49     6,413,505
7Pioneer Municipal High Income Fund, Inc. |  | 7/31/23
Principal
Amount
USD ($) 		          Value
  Texas — (continued)  
8,000,000 City of Houston Airport System Revenue, 4.00%, 7/15/41 $   7,160,880
3,960,000(e) Sanger Industrial Development Corp., Texas Pellets Project, Series B, 8.00%, 7/1/38       975,150
953,705 Texas Department of Housing & Community Affairs, Series 2020-HOLL, 2.30%, 7/1/37 (FNMA HUD SECT 8 Insured)       798,136
350,000 Texas Municipal Gas Acquisition & Supply Corp. III, 5.00%, 12/15/31       365,614
8,450,000 Texas Private Activity Bond Surface Transportation Corp., Segment 3C Project, 5.00%, 6/30/58    8,553,344
  Total Texas   $25,802,729
  Virginia — 7.4%  
2,500,000(d) City of Alexandria, Series A, 3.00%, 7/15/46 (ST AID WITHHLDG Insured) $   2,059,800
1,000,000 City of Richmond Public Utility Revenue, Series A, 3.00%, 1/15/45       828,750
5,000,000 Tobacco Settlement Financing Corp., Series B1, 5.00%, 6/1/47     4,687,500
4,000,000 Virginia Commonwealth Transportation Board, Capital Projects, 3.00%, 5/15/37     3,630,360
1,000,000 Virginia Small Business Financing Authority, Senior Lien 95 Express Lanes LLC Project, 4.00%, 1/1/48       897,710
3,500,000 Virginia Small Business Financing Authority, Transform 66-P3 Project, 5.00%, 12/31/49     3,543,400
1,500,000 Virginia Small Business Financing Authority, Transform 66-P3 Project, 5.00%, 12/31/56    1,507,860
  Total Virginia   $17,155,380
  Washington — 2.0%  
4,595,000(c) Tender Option Bond Trust Receipts/Certificates, RIB, 0.00%, Series 2018, 1/1/45 (144A) $   4,504,295
  Total Washington    $4,504,295
Pioneer Municipal High Income Fund, Inc. |  | 7/31/238
Schedule of Investments  |  7/31/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Wisconsin — 1.0%  
1,500,000 Public Finance Authority, Gardner Webb University, 5.00%, 7/1/31 (144A) $   1,576,260
750,000 Public Finance Authority, Roseman University Health Sciences Project, 5.875%, 4/1/45      756,773
  Total Wisconsin    $2,333,033
  Total Municipal Bonds
(Cost $379,458,909) 		 $355,413,767
  TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 154.2%
(Cost $379,458,909) 		 $355,413,767
  OTHER ASSETS AND LIABILITIES — (54.2)% $(124,995,873)
  net assets applicable to common stockholders — 100.0%  $230,417,894
             
AMBAC Ambac Assurance Corporation.
CNTY GTD County Guaranteed.
COLL Collateral.
FHLMC Federal Home Loan Mortgage Corporation.
FNMA Federal National Mortgage Association.
FNMA HUD SECT 8 Federal National Mortgage Association U.S. Department of Housing and Urban Development Section 8.
GNMA Government National Mortgage Association.
RIB Residual Interest Bond is purchased in a secondary market. The interest rate is subject to change periodically and inversely based upon prevailing market rates. The interest rate shown is the rate at July 31, 2023.
SONYMA FHA 542c State of New York Mortgage Agency Federal Housing Administration Section 542c.
ST AID WITHHLDG State Aid Withholding.
(144A) The resale of such security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers. At July 31, 2023, the value of these securities amounted to $63,295,226, or 27.5% of net assets applicable to common stockholders.
(a) Consists of Revenue Bonds unless otherwise indicated.
(b) Security issued with a zero coupon. Income is recognized through accretion of discount.
(c) The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at July 31, 2023.
9Pioneer Municipal High Income Fund, Inc. |  | 7/31/23
(d) Represents a General Obligation Bond.
(e) Security is in default.
† Amount rounds to less than 0.1%.
The concentration of investments as a percentage of total investments by type of obligation/market sector is as follows:
Revenue Bonds:  
Health Revenue 27.8%
Development Revenue 19.7
Transportation Revenue 10.5
Tobacco Revenue 10.4
Water Revenue 10.4
Education Revenue 9.3
Other Revenue 3.3
Utilities Revenue 1.5
Facilities Revenue 1.1
Power Revenue 0.2
  94.2%
General Obligation Bonds: 5.8%
  100.0%
Various inputs are used in determining the value of the Fund'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 Adviser's own assumptions in determining fair value of investments).
The following is a summary of the inputs used as of July 31, 2023, in valuing the Fund's investments:
  Level 1 Level 2 Level 3 Total
Municipal Bonds $— $355,413,767 $— $355,413,767
Total Investments in Securities $— $355,413,767 $— $355,413,767
During the period ended July 31, 2023, there were no transfers in or out of Level 3.
Pioneer Municipal High Income Fund, Inc. |  | 7/31/2310
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