Pioneer High Income Fund, Inc.
Schedule of Investments  |  June 30, 2023
 
Ticker Symbol: PHT
Schedule of Investments  |  6/30/23
(unaudited) 
Principal
Amount
USD ($) 		          Value
  UNAFFILIATED ISSUERS — 146.6%  
  Senior Secured Floating Rate Loan
Interests — 3.8% of Net Assets*(a) 		 
  Auto Parts & Equipment — 0.6%  
1,393,447 First Brands Group LLC, First Lien 2021 Term Loan, 10.252% (Term SOFR + 500 bps), 3/30/27 $  1,374,287
  Total Auto Parts & Equipment   $1,374,287
  Metal Processors & Fabrication — 0.5%  
1,120,050 Grinding Media, Inc. (Molycop, Ltd.), First Lien Initial Term Loan, 9.199% (Term SOFR + 400 bps), 10/12/28 $  1,093,449
  Total Metal Processors & Fabrication   $1,093,449
  Oil-Field Services — 1.8%  
4,129,615 ProFrac Holdings II LLC, Term Loan, 12.42% (Term SOFR + 725 bps), 3/4/25 $  4,139,939
  Total Oil-Field Services   $4,139,939
  Physical Practice Management — 0.3%  
940,118 Team Health Holdings, Inc., Extended Term Loan, 10.352% (Term SOFR + 525 bps), 3/2/27 $    653,382
  Total Physical Practice Management     $653,382
  Telecom Services — 0.6%  
1,548,300 Patagonia Holdco LLC, Amendment No.1 Term Loan, 10.789% (Term SOFR + 575 bps), 8/1/29 $  1,323,796
  Total Telecom Services   $1,323,796
  Total Senior Secured Floating Rate Loan Interests
(Cost $8,741,323) 		  $8,584,853
Shares            
  Common Stocks — 0.3% of Net Assets  
  Chemicals — 0.0%†  
22 LyondellBasell Industries NV, Class A $      2,020
  Total Chemicals       $2,020
  Oil, Gas & Consumable Fuels — 0.0%†  
21(b) Amplify Energy Corp. $        142
8,027(b) Petroquest Energy, Inc.         402
  Total Oil, Gas & Consumable Fuels         $544
1Pioneer High Income Fund, Inc. |  | 6/30/23
Shares           Value
  Passenger Airlines — 0.3%  
57,203(b)+ Grupo Aeromexico SAB de CV $    668,376
  Total Passenger Airlines     $668,376
  Total Common Stocks
(Cost $1,646,575) 		    $670,940
Principal
Amount
USD ($) 		           
  Collateralized Mortgage
Obligations—2.3% of Net Assets 		 
710,000(a) Connecticut Avenue Securities Trust, Series 2021-R01, Class 1B2, 11.067% (SOFR30A + 600 bps), 10/25/41 (144A) $    699,022
120,000(a) Fannie Mae Connecticut Avenue Securities, Series 2021-R02, Class 2B2, 11.267% (SOFR30A + 620 bps), 11/25/41 (144A)      114,536
430,000(a) Freddie Mac STACR REMIC Trust, Series 2021-DNA7, Class B2, 12.867% (SOFR30A + 780 bps), 11/25/41 (144A)      422,220
450,000(a) Freddie Mac STACR REMIC Trust, Series 2021-HQA3, Class B2, 11.317% (SOFR30A + 625 bps), 9/25/41 (144A)      419,644
610,000(a) Freddie Mac STACR REMIC Trust, Series 2022-DNA2, Class B2, 13.567% (SOFR30A + 850 bps), 2/25/42 (144A)      609,998
1,370,000(a) Freddie Mac STACR Trust, Series 2019-DNA3, Class B2, 13.30% (1 Month USD LIBOR + 815 bps), 7/25/49 (144A)   1,473,428
1,350,000(a) STACR Trust, Series 2018-HRP2, Class B2, 15.65% (1 Month USD LIBOR + 1,050 bps), 2/25/47 (144A)   1,500,445
  Total Collateralized Mortgage Obligations
(Cost $5,241,773) 		  $5,239,293
  Commercial Mortgage-Backed
Securities—3.8% of Net Assets 		 
496,069(a) Capital Funding Mortgage Trust, Series 2020-9, Class B, 20.07% (1 Month USD LIBOR + 1,490 bps), 11/15/23 (144A) $    489,300
605,000(a) Capital Funding Mortgage Trust, Series 2021-8, Class B, 18.27% (1 Month USD LIBOR + 1,310 bps), 12/15/23 (144A)      605,000
Pioneer High Income Fund, Inc. |  | 6/30/232
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Commercial Mortgage-Backed
Securities—(continued) 		 
1,490,000(a) Capital Funding Mortgage Trust, Series 2021-19, Class B, 20.38% (1 Month USD LIBOR + 1,521 bps), 11/6/23 (144A) $  1,449,860
1,155,710(c) FREMF Mortgage Trust, Series 2019-KJ24, Class B, 7.60%, 10/25/27 (144A)   1,048,440
1,500,000(a) FREMF Mortgage Trust, Series 2019-KS12, Class C, 12.093% (1 Month USD LIBOR + 690 bps), 8/25/29   1,421,710
284,681(a) FREMF Mortgage Trust, Series 2020-KF74, Class C, 11.443% (1 Month USD LIBOR + 625 bps), 1/25/27 (144A)      271,074
389,627(a) FREMF Mortgage Trust, Series 2020-KF83, Class C, 14.193% (1 Month USD LIBOR + 900 bps), 7/25/30 (144A)      369,432
1,169,388(a) Med Trust, Series 2021-MDLN, Class G, 10.444% (1 Month USD LIBOR + 525 bps), 11/15/38 (144A)   1,094,828
2,500,000 Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class E, 3.00%, 5/15/48 (144A)   1,701,999
  Total Commercial Mortgage-Backed Securities
(Cost $9,021,432) 		  $8,451,643
  Convertible Corporate Bonds —
2.5% of Net Assets 		 
  Banks — 0.0%†  
IDR1,422,679,000 PT Bakrie & Brothers Tbk, 7/31/23 $     10,249
  Total Banks      $10,249
  Chemicals — 1.8%  
4,000,000(d) Hercules LLC, 6.50%, 6/30/29 $  4,073,629
  Total Chemicals   $4,073,629
  Entertainment — 0.7%  
1,455,000(e) DraftKings Holdings, Inc., 3/15/28 $  1,085,430
449,000 IMAX Corp., 0.50%, 4/1/26     410,296
  Total Entertainment   $1,495,726
  Total Convertible Corporate Bonds
(Cost $4,842,321) 		  $5,579,604
3Pioneer High Income Fund, Inc. |  | 6/30/23
Principal
Amount
USD ($) 		          Value
  Corporate Bonds — 125.3% of Net
Assets 		 
  Advertising — 2.9%  
2,090,000 Clear Channel Outdoor Holdings, Inc., 7.50%, 6/1/29 (144A) $  1,546,551
900,000 Clear Channel Outdoor Holdings, Inc., 7.75%, 4/15/28 (144A)      706,500
2,010,000 Stagwell Global LLC, 5.625%, 8/15/29 (144A)   1,720,022
3,000,000 Summer BC Bidco B LLC, 5.50%, 10/31/26 (144A)   2,520,000
  Total Advertising   $6,493,073
  Aerospace & Defense — 2.0%  
2,150,000 Bombardier, Inc., 6.00%, 2/15/28 (144A) $  2,031,974
960,000 Bombardier, Inc., 7.125%, 6/15/26 (144A)      953,532
740,000 Spirit AeroSystems, Inc., 9.375%, 11/30/29 (144A)      792,225
740,000 Triumph Group, Inc., 9.00%, 3/15/28 (144A)     755,569
  Total Aerospace & Defense   $4,533,300
  Agriculture — 1.0%  
2,795,000 Frigorifico Concepcion SA, 7.70%, 7/21/28 (144A) $  2,178,063
  Total Agriculture   $2,178,063
  Airlines — 6.1%  
420,000 Allegiant Travel Co., 7.25%, 8/15/27 (144A) $    418,450
355,000 Delta Air Lines, Inc., 7.375%, 1/15/26      370,081
3,255,000 Grupo Aeromexico SAB de CV, 8.50%, 3/17/27 (144A)   2,912,964
330,000 Latam Airlines Group SA, 13.375%, 10/15/29 (144A)      357,092
1,104,000 Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets, Ltd., 6.50%, 6/20/27 (144A)   1,106,756
2,460,000 Pegasus Hava Tasimaciligi AS, 9.25%, 4/30/26 (144A)   2,452,374
1,375,000 Spirit Loyalty Cayman, Ltd./Spirit IP Cayman, Ltd., 8.00%, 9/20/25 (144A)   1,385,278
EUR1,600,000 Transportes Aereos Portugueses SA, 5.625%, 12/2/24 (144A)   1,713,402
Pioneer High Income Fund, Inc. |  | 6/30/234
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Airlines — (continued)  
1,470,000 VistaJet Malta Finance Plc/Vista Management Holding, Inc., 9.50%, 6/1/28 (144A) $  1,349,681
1,705,000 VistaJet Malta Finance Plc/XO Management Holding, Inc., 7.875%, 5/1/27 (144A)   1,531,857
  Total Airlines  $13,597,935
  Apparel — 0.4%  
870,000 Hanesbrands, Inc., 9.00%, 2/15/31 (144A) $    876,843
  Total Apparel     $876,843
  Auto Manufacturers — 0.8%  
1,735,000 JB Poindexter & Co., Inc., 7.125%, 4/15/26 (144A) $  1,696,362
  Total Auto Manufacturers   $1,696,362
  Auto Parts & Equipment — 2.1%  
2,375,000 Adient Global Holdings, Ltd., 8.25%, 4/15/31 (144A) $  2,411,596
2,460,000 Dealer Tire LLC/DT Issuer LLC, 8.00%, 2/1/28 (144A)   2,240,971
  Total Auto Parts & Equipment   $4,652,567
  Banks — 2.7%  
600,000(c)(f) Bank of America Corp., 6.50% (3 Month Term SOFR + 444 bps) $    598,332
1,931,000 Freedom Mortgage Corp., 8.125%, 11/15/24 (144A)   1,913,054
1,680,000 Freedom Mortgage Corp., 8.25%, 4/15/25 (144A)   1,638,019
675,000(c)(f) Intesa Sanpaolo S.p.A., 7.70% (5 Year USD Swap Rate + 546 bps) (144A)      633,656
1,240,000(c) Toronto-Dominion Bank, 8.125% (5 Year CMT Index + 408 bps), 10/31/82   1,259,691
  Total Banks   $6,042,752
  Biotechnology — 0.3%  
EUR745,000 Cidron Aida Finco S.a.r.l., 5.00%, 4/1/28 (144A) $    734,810
  Total Biotechnology     $734,810
  Building Materials — 1.3%  
2,211,000 Cornerstone Building Brands, Inc., 6.125%, 1/15/29 (144A) $  1,746,690
1,140,000 Knife River Corp., 7.75%, 5/1/31 (144A)   1,154,273
  Total Building Materials   $2,900,963
5Pioneer High Income Fund, Inc. |  | 6/30/23
Principal
Amount
USD ($) 		          Value
  Chemicals — 8.4%  
910,000 Braskem Idesa SAPI, 6.99%, 2/20/32 (144A) $    589,487
1,355,000 LSF11 A5 HoldCo LLC, 6.625%, 10/15/29 (144A)   1,131,695
EUR885,000 Lune Holdings S.a.r.l., 5.625%, 11/15/28 (144A)      784,641
2,250,000 LYB Finance Co. BV, 8.10%, 3/15/27 (144A)   2,427,137
2,831,000 Mativ Holdings, Inc., 6.875%, 10/1/26 (144A)   2,477,691
470,000 Olin Corp., 9.50%, 6/1/25 (144A)      494,390
EUR1,355,000 Olympus Water US Holding Corp., 9.625%, 11/15/28 (144A)   1,419,433
2,320,000 Olympus Water US Holding Corp., 9.75%, 11/15/28 (144A)   2,262,696
2,316,000 Rain CII Carbon LLC/CII Carbon Corp., 7.25%, 4/1/25 (144A)   2,247,493
2,500,000 SCIL IV LLC/SCIL USA Holdings LLC, 5.375%, 11/1/26 (144A)   2,279,103
EUR1,005,000(g) SCIL IV LLC/SCIL USA Holdings LLC, 9.50%, 7/15/28 (144A)   1,096,656
2,000,000 Tronox, Inc., 4.625%, 3/15/29 (144A)   1,662,066
  Total Chemicals  $18,872,488
  Commercial Services — 6.8%  
1,645,000 Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.00%, 6/1/29 (144A) $  1,213,854
350,000 Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.625%, 7/15/26 (144A)      332,130
1,905,000 Allied Universal Holdco LLC/Allied Universal Finance Corp., 9.75%, 7/15/27 (144A)   1,683,931
790,000 Atento Luxco 1 SA, 8.00%, 2/10/26 (144A)      125,618
2,116,000 Garda World Security Corp., 6.00%, 6/1/29 (144A)   1,733,972
2,059,000 Garda World Security Corp., 9.50%, 11/1/27 (144A)   1,989,186
319,000 Herc Holdings, Inc., 5.50%, 7/15/27 (144A)      305,649
1,470,000 Neptune Bidco US, Inc., 9.29%, 4/15/29 (144A)   1,349,478
915,000 NESCO Holdings II, Inc., 5.50%, 4/15/29 (144A)      818,925
4,155,000 Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 1/15/28 (144A)   3,892,410
1,093,000 Sotheby's, 7.375%, 10/15/27 (144A)      983,036
862,000 Verscend Escrow Corp., 9.75%, 8/15/26 (144A)     864,666
  Total Commercial Services  $15,292,855
Pioneer High Income Fund, Inc. |  | 6/30/236
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Computers — 0.4%  
980,000 NCR Corp., 5.00%, 10/1/28 (144A) $    874,582
  Total Computers     $874,582
  Distribution/Wholesale — 1.1%  
1,105,000 Ritchie Bros Holdings, Inc., 7.75%, 3/15/31 (144A) $  1,146,355
1,325,000(g) Windsor Holdings III LLC, 8.50%, 6/15/30 (144A)   1,318,799
  Total Distribution/Wholesale   $2,465,154
  Diversified Financial Services — 10.4%  
2,150,000 ASG Finance Designated Activity Co., 7.875%, 12/3/24 (144A) $  2,079,050
1,291,551(h) Avation Capital SA, 8.25% (9.00% PIK or 8.25% Cash), 10/31/26 (144A)   1,124,189
4,055,000 Bread Financial Holdings, Inc., 7.00%, 1/15/26 (144A)   3,822,684
140,000(i) Credito Real SAB de CV SOFOM ER, 8.00%, 1/21/28 (144A)       16,100
1,500,000(i) Credito Real SAB de CV SOFOM ER, 9.50%, 2/7/26 (144A)      171,000
EUR480,000 Garfunkelux Holdco 3 SA, 6.75%, 11/1/25 (144A)      382,356
GBP820,000 Garfunkelux Holdco 3 SA, 7.75%, 11/1/25 (144A)      743,560
350,000 GGAM Finance, Ltd., 7.75%, 5/15/26 (144A)      351,313
1,805,000 GGAM Finance, Ltd., 8.00%, 6/15/28 (144A)   1,805,921
2,225,479(h) Global Aircraft Leasing Co., Ltd., 6.50% (7.25% PIK or 6.50% Cash), 9/15/24 (144A)   2,037,092
2,900,000 Jefferies Finance LLC/JFIN Co.-Issuer Corp., 5.00%, 8/15/28 (144A)   2,377,461
845,000 Nationstar Mortgage Holdings, Inc., 6.00%, 1/15/27 (144A)      786,091
1,445,000 OneMain Finance Corp., 9.00%, 1/15/29   1,457,210
755,000 PHH Mortgage Corp., 7.875%, 3/15/26 (144A)      674,366
3,415,000 Provident Funding Associates LP/PFG Finance Corp., 6.375%, 6/15/25 (144A)   3,005,200
1,051,000 United Wholesale Mortgage LLC, 5.50%, 4/15/29 (144A)      901,232
1,860,000 United Wholesale Mortgage LLC, 5.75%, 6/15/27 (144A)   1,698,106
  Total Diversified Financial Services  $23,432,931
7Pioneer High Income Fund, Inc. |  | 6/30/23
Principal
Amount
USD ($) 		          Value
  Electric — 1.3%  
825,000 Cemig Geracao e Transmissao SA, 9.25%, 12/5/24 (144A) $    832,219
676,000 NRG Energy, Inc., 6.625%, 1/15/27      671,052
281,461 NSG Holdings LLC/NSG Holdings, Inc., 7.75%, 12/15/25 (144A)      279,350
1,045,000 Talen Energy Supply LLC, 8.625%, 6/1/30 (144A)   1,081,575
6,000 Vistra Operations Co. LLC, 5.625%, 2/15/27 (144A)       5,751
  Total Electric   $2,869,947
  Electrical Components & Equipments — 1.7%  
2,600,000 Energizer Holdings, Inc., 6.50%, 12/31/27 (144A) $  2,499,700
750,000 WESCO Distribution, Inc., 7.125%, 6/15/25 (144A)      757,901
520,000 WESCO Distribution, Inc., 7.25%, 6/15/28 (144A)     530,429
  Total Electrical Components & Equipments   $3,788,030
  Energy-Alternate Sources — 0.1%  
202,777(h) SCC Power Plc, 4.00% (4.00% PIK or 4.00% Cash), 5/17/32 (144A) $     19,974
374,357(h) SCC Power Plc, 8.00% (4.00% PIK or 4.00% Cash or 8.00% Cash), 12/31/28 (144A)     127,281
  Total Energy-Alternate Sources     $147,255
  Engineering & Construction — 0.2%  
475,000 Brundage-Bone Concrete Pumping Holdings, Inc., 6.00%, 2/1/26 (144A) $    449,786
  Total Engineering & Construction     $449,786
  Entertainment — 5.2%  
2,264,138 AMC Entertainment Holdings, Inc., 10.00%, 6/15/26 (144A) $  1,624,519
EUR247,360 Cirsa Finance International S.a.r.l., 6.25%, 12/20/23 (144A)      268,704
395,000 International Game Technology Plc, 6.25%, 1/15/27 (144A)      393,519
208,000 International Game Technology Plc, 6.50%, 2/15/25 (144A)      208,000
EUR755,000 Lottomatica S.p.A., 9.75%, 9/30/27 (144A)      888,735
EUR730,000 Lottomatica S.p.A./Roma, 7.125%, 6/1/28 (144A)      813,110
Pioneer High Income Fund, Inc. |  | 6/30/238
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Entertainment — (continued)  
1,880,000 Mohegan Tribal Gaming Authority, 8.00%, 2/1/26 (144A) $  1,795,400
1,910,000 Scientific Games International, Inc., 7.00%, 5/15/28 (144A)   1,899,803
1,910,000 Scientific Games International, Inc., 7.25%, 11/15/29 (144A)   1,912,387
2,035,000 SeaWorld Parks & Entertainment, Inc., 5.25%, 8/15/29 (144A)   1,821,481
  Total Entertainment  $11,625,658
  Environmental Control — 0.4%  
766,000 Tervita Corp., 11.00%, 12/1/25 (144A) $    812,618
  Total Environmental Control     $812,618
  Food — 0.7%  
531,000 Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 7.50%, 3/15/26 (144A) $    540,000
1,043,000 FAGE International SA/FAGE USA Dairy Industry, Inc., 5.625%, 8/15/26 (144A)     982,163
  Total Food   $1,522,163
  Healthcare-Products — 0.8%  
1,809,000 Varex Imaging Corp., 7.875%, 10/15/27 (144A) $  1,794,546
  Total Healthcare-Products   $1,794,546
  Healthcare-Services — 5.4%  
975,000 Auna SAA, 6.50%, 11/20/25 (144A) $    804,375
580,000 CHS/Community Health Systems, Inc., 5.625%, 3/15/27 (144A)      511,118
265,000 CHS/Community Health Systems, Inc., 6.00%, 1/15/29 (144A)      222,931
580,000 Legacy LifePoint Health LLC, 6.75%, 4/15/25 (144A)      538,716
385,000 LifePoint Health, Inc., 5.375%, 1/15/29 (144A)      227,401
2,640,000 Prime Healthcare Services, Inc., 7.25%, 11/1/25 (144A)   2,501,427
1,406,000 Surgery Center Holdings, Inc., 10.00%, 4/15/27 (144A)   1,437,635
3,800,000 Tenet Healthcare Corp., 6.125%, 6/15/30   3,745,660
9Pioneer High Income Fund, Inc. |  | 6/30/23
Principal
Amount
USD ($) 		          Value
  Healthcare-Services — (continued)  
1,645,000 US Acute Care Solutions LLC, 6.375%, 3/1/26 (144A) $  1,408,531
2,500,000 US Renal Care, Inc., 10.625%, 7/15/27 (144A)     625,000
  Total Healthcare-Services  $12,022,794
  Home Builders — 1.3%  
475,000 Beazer Homes USA, Inc., 6.75%, 3/15/25 $    471,437
1,155,000 Beazer Homes USA, Inc., 7.25%, 10/15/29   1,122,332
1,680,000 Brookfield Residential Properties, Inc./Brookfield Residential US LLC, 4.875%, 2/15/30 (144A)   1,317,939
  Total Home Builders   $2,911,708
  Household Products/Wares — 0.7%  
2,050,000 Spectrum Brands, Inc., 3.875%, 3/15/31 (144A) $  1,681,000
  Total Household Products/Wares   $1,681,000
  Insurance — 5.6%  
3,800,000 Hanover Insurance Group, Inc., 7.625%, 10/15/25 $  3,891,339
3,075,000(c) Liberty Mutual Group, Inc., 10.75% (3 Month USD LIBOR + 712 bps), 6/15/58 (144A)   3,995,901
3,000,000 Liberty Mutual Insurance Co., 7.697%, 10/15/97 (144A)   3,358,572
1,100,000 MetLife, Inc., 10.75%, 8/1/39   1,419,769
  Total Insurance  $12,665,581
  Internet — 0.1%  
205,000 Expedia Group, Inc., 6.25%, 5/1/25 (144A) $    205,667
  Total Internet     $205,667
  Iron & Steel — 1.7%  
1,855,000 Carpenter Technology Corp., 7.625%, 3/15/30 $  1,875,964
2,235,000 TMS International Corp., 6.25%, 4/15/29 (144A)   1,877,400
  Total Iron & Steel   $3,753,364
  Leisure Time — 4.7%  
215,000 Carnival Corp., 7.625%, 3/1/26 (144A) $    210,571
EUR280,000 Carnival Corp., 7.625%, 3/1/26 (144A)      296,446
285,000 Carnival Corp., 10.50%, 2/1/26 (144A)      299,596
235,000 Carnival Holdings Bermuda, Ltd., 10.375%, 5/1/28 (144A)      257,026
EUR731,000 Carnival Plc, 1.00%, 10/28/29      492,914
1,295,000 NCL Corp., Ltd., 5.875%, 3/15/26 (144A)   1,211,555
2,435,000 NCL Corp., Ltd., 7.75%, 2/15/29 (144A)   2,312,787
Pioneer High Income Fund, Inc. |  | 6/30/2310
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Leisure Time — (continued)  
360,000 NCL Finance, Ltd., 6.125%, 3/15/28 (144A) $    324,007
745,000 Royal Caribbean Cruises, Ltd., 5.50%, 4/1/28 (144A)      694,742
272,000 Royal Caribbean Cruises, Ltd., 11.50%, 6/1/25 (144A)      288,592
1,360,000 Royal Caribbean Cruises, Ltd., 11.625%, 8/15/27 (144A)   1,478,917
2,790,000 Viking Cruises, Ltd., 6.25%, 5/15/25 (144A)   2,734,200
  Total Leisure Time  $10,601,353
  Lodging — 0.3%  
725,000 Travel + Leisure Co., 6.625%, 7/31/26 (144A) $    719,489
  Total Lodging     $719,489
  Media — 3.5%  
2,500,000 CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 2/1/32 (144A) $  2,038,700
118,000 Cengage Learning, Inc., 9.50%, 6/15/24 (144A)      118,301
2,200,000 CSC Holdings LLC, 4.625%, 12/1/30 (144A)      978,862
1,925,000 CSC Holdings LLC, 5.00%, 11/15/31 (144A)      896,488
1,057,000 Gray Television, Inc., 7.00%, 5/15/27 (144A)      901,779
3,530,000 McGraw-Hill Education, Inc., 8.00%, 8/1/29 (144A)   3,012,890
  Total Media   $7,947,020
  Metal Fabricate/Hardware — 0.5%  
1,185,000 Park-Ohio Industries, Inc., 6.625%, 4/15/27 $  1,046,948
  Total Metal Fabricate/Hardware   $1,046,948
  Mining — 3.1%  
940,000 Arconic Corp., 6.125%, 2/15/28 (144A) $    951,660
1,665,000 Coeur Mining, Inc., 5.125%, 2/15/29 (144A)   1,373,625
375,000 First Quantum Minerals, Ltd., 6.875%, 3/1/26 (144A)      369,151
705,000 First Quantum Minerals, Ltd., 6.875%, 10/15/27 (144A)      687,728
2,840,000 First Quantum Minerals, Ltd., 8.625%, 6/1/31 (144A)   2,910,659
692,000 Hudbay Minerals, Inc., 6.125%, 4/1/29 (144A)     637,173
  Total Mining   $6,929,996
11Pioneer High Income Fund, Inc. |  | 6/30/23
Principal
Amount
USD ($) 		          Value
  Miscellaneous Manufacturing — 1.3%  
2,880,000 Trinity Industries, Inc., 7.75%, 7/15/28 (144A) $  2,898,000
  Total Miscellaneous Manufacturing   $2,898,000
  Oil & Gas — 15.6%  
2,430,000 Aethon United BR LP/Aethon United Finance Corp., 8.25%, 2/15/26 (144A) $  2,387,475
1,105,000 Ascent Resources Utica Holdings LLC/ARU Finance Corp., 5.875%, 6/30/29 (144A)      985,816
2,140,000 Baytex Energy Corp., 8.50%, 4/30/30 (144A)   2,089,859
4,000,000 Baytex Energy Corp., 8.75%, 4/1/27 (144A)   4,050,700
624,000 Cenovus Energy, Inc., 6.75%, 11/15/39      654,146
1,225,000 Civitas Resources, Inc., 8.375%, 7/1/28 (144A)   1,238,843
1,225,000 Civitas Resources, Inc., 8.75%, 7/1/31 (144A)   1,241,905
2,135,000 Harbour Energy Plc, 5.50%, 10/15/26 (144A)   1,956,328
830,000 Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, 2/1/31 (144A)      739,843
833,000 International Petroleum Corp., 7.25%, 2/1/27 (144A)      774,190
870,000 Kosmos Energy, Ltd., 7.75%, 5/1/27 (144A)      743,897
1,010,000 MEG Energy Corp., 5.875%, 2/1/29 (144A)      949,820
1,535,000 MEG Energy Corp., 7.125%, 2/1/27 (144A)   1,559,687
1,280,000 Murphy Oil Corp., 6.375%, 7/15/28   1,261,598
1,109,000 Nabors Industries, Ltd., 7.50%, 1/15/28 (144A)      970,442
2,000,000 Neptune Energy Bondco Plc, 6.625%, 5/15/25 (144A)   1,996,460
415,000 Noble Finance II LLC, 8.00%, 4/15/30 (144A)      421,922
2,010,000 Occidental Petroleum Corp., 4.40%, 4/15/46   1,552,256
692,000 Petroleos Mexicanos, 6.70%, 2/16/32      526,165
579,000 Precision Drilling Corp., 6.875%, 1/15/29 (144A)      523,137
2,269,000 Shelf Drilling Holdings, Ltd., 8.25%, 2/15/25 (144A)   2,117,650
1,015,000 Shelf Drilling Holdings, Ltd., 8.875%, 11/15/24 (144A)   1,013,173
885,000 Southwestern Energy Co., 4.75%, 2/1/32      779,983
285,000 Transocean Titan Financing, Ltd., 8.375%, 2/1/28 (144A)      291,056
2,075,000 Tullow Oil Plc, 10.25%, 5/15/26 (144A)   1,576,979
1,705,000 Valaris, Ltd., 8.375%, 4/30/30 (144A)   1,710,729
1,000,000 YPF SA, 6.95%, 7/21/27 (144A)     820,651
  Total Oil & Gas  $34,934,710
Pioneer High Income Fund, Inc. |  | 6/30/2312
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Oil & Gas Services — 2.2%  
385,000 Archrock Partners LP/Archrock Partners Finance Corp., 6.25%, 4/1/28 (144A) $    361,461
2,583,000 Archrock Partners LP/Archrock Partners Finance Corp., 6.875%, 4/1/27 (144A)   2,479,680
1,445,000 Enerflex, Ltd., 9.00%, 10/15/27 (144A)   1,405,942
703,000 USA Compression Partners LP/USA Compression Finance Corp., 6.875%, 9/1/27     671,291
  Total Oil & Gas Services   $4,918,374
  Packaging & Containers — 0.6%  
1,355,000 Owens-Brockway Glass Container, Inc., 7.25%, 5/15/31 (144A) $  1,371,938
  Total Packaging & Containers   $1,371,938
  Pharmaceuticals — 2.8%  
2,750,000 Owens & Minor, Inc., 6.625%, 4/1/30 (144A) $  2,494,965
2,365,000 P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25 (144A)   1,922,539
579,000 Par Pharmaceutical, Inc., 7.50%, 4/1/27 (144A)      427,900
392,000 Teva Pharmaceutical Finance Netherlands III BV, 2.80%, 7/21/23      390,999
1,095,000 Teva Pharmaceutical Finance Netherlands III BV, 7.875%, 9/15/29   1,128,433
1,300,000+ Tricida, Inc., 5/15/27          —
  Total Pharmaceuticals   $6,364,836
  Pipelines — 7.1%  
1,759,167 Acu Petroleo Luxembourg S.a.r.l., 7.50%, 1/13/32 (144A) $  1,516,631
910,000 DCP Midstream Operating LP, 5.60%, 4/1/44      862,538
1,210,000 Delek Logistics Partners LP/Delek Logistics Finance Corp., 6.75%, 5/15/25   1,188,825
1,060,000 Delek Logistics Partners LP/Delek Logistics Finance Corp., 7.125%, 6/1/28 (144A)      982,088
1,524,000(a) Energy Transfer LP, 8.317% (3 Month USD LIBOR + 302 bps), 11/1/66   1,169,674
1,965,000(c)(f) Energy Transfer LP, 7.125% (5 Year CMT Index + 531 bps)   1,666,166
248,000 EnLink Midstream Partners LP, 5.05%, 4/1/45      197,845
270,000 EnLink Midstream Partners LP, 5.45%, 6/1/47      221,941
717,000 EnLink Midstream Partners LP, 5.60%, 4/1/44      600,290
770,000 Genesis Energy LP/Genesis Energy Finance Corp., 8.00%, 1/15/27      750,828
13Pioneer High Income Fund, Inc. |  | 6/30/23
Principal
Amount
USD ($) 		          Value
  Pipelines — (continued)  
421,000 Global Partners LP/GLP Finance Corp., 7.00%, 8/1/27 $    408,509
1,515,000 Harvest Midstream I LP, 7.50%, 9/1/28 (144A)   1,502,032
1,150,000 NuStar Logistics LP, 6.375%, 10/1/30   1,097,148
720,000 Venture Global LNG, Inc., 8.125%, 6/1/28 (144A)      731,257
1,355,000 Venture Global LNG, Inc., 8.375%, 6/1/31 (144A)   1,366,067
1,801,000 Williams Cos., Inc., 5.75%, 6/24/44   1,754,606
  Total Pipelines  $16,016,445
  REITs — 1.5%  
2,275,000 MPT Operating Partnership LP/MPT Finance Corp., 3.50%, 3/15/31 $  1,567,515
230,000 Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 1/15/30 (144A)      155,825
1,555,000 Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 10.50%, 2/15/28 (144A)   1,542,659
  Total REITs   $3,265,999
  Retail — 1.3%  
1,365,000 LCM Investments Holdings II LLC, 4.875%, 5/1/29 (144A) $  1,168,087
1,192,000 Patrick Industries, Inc., 7.50%, 10/15/27 (144A)   1,153,260
798,000 Staples, Inc., 7.50%, 4/15/26 (144A)     659,078
  Total Retail   $2,980,425
  Software — 1.0%  
2,245,000 AthenaHealth Group, Inc., 6.50%, 2/15/30 (144A) $  1,889,482
1,350,000 Rackspace Technology Global, Inc., 5.375%, 12/1/28 (144A)     419,091
  Total Software   $2,308,573
  Telecommunications — 4.8%  
1,495,000 Altice France Holding SA, 6.00%, 2/15/28 (144A) $    728,799
1,169,000 Altice France Holding SA, 10.50%, 5/15/27 (144A)      707,865
270,000 Altice France SA, 5.125%, 1/15/29 (144A)      192,482
1,934,000 CommScope Technologies LLC, 6.00%, 6/15/25 (144A)   1,802,622
1,910,000 CommScope, Inc., 4.75%, 9/1/29 (144A)   1,505,845
Pioneer High Income Fund, Inc. |  | 6/30/2314
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Telecommunications — (continued)  
119,296(i) Digicel International Finance Ltd/Digicel international Holdings, Ltd., 8.00%, 12/31/26 (144A) $     20,280
3,080,000 Sprint LLC, 7.125%, 6/15/24   3,107,545
41,000 Sprint LLC, 7.625%, 3/1/26       42,590
3,135,000 Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 8/15/28 (144A)   2,601,754
  Total Telecommunications  $10,709,782
  Transportation — 2.8%  
2,640,000 Carriage Purchaser, Inc., 7.875%, 10/15/29 (144A) $  1,984,444
1,375,000 Danaos Corp., 8.50%, 3/1/28 (144A)   1,379,400
1,225,000 Rand Parent LLC, 8.50%, 2/15/30 (144A)   1,109,057
820,000 Seaspan Corp., 5.50%, 8/1/29 (144A)      642,404
1,240,000 Watco Cos. LLC/Watco Finance Corp., 6.50%, 6/15/27 (144A)   1,178,371
3,305,000 Western Global Airlines LLC, 10.375%, 8/15/25 (144A)      16,525
  Total Transportation   $6,310,201
  Trucking & Leasing — 0.3%  
690,000 Fortress Transportation and Infrastructure Investors LLC, 9.75%, 8/1/27 (144A) $    712,612
  Total Trucking & Leasing     $712,612
  Total Corporate Bonds
(Cost $302,088,976) 		$280,931,496
Shares            
  Convertible Preferred Stock — 0.4%
of Net Assets 		 
  Banks — 0.4%  
752(f) Wells Fargo & Co., 7.50% $    866,304
  Total Banks     $866,304
  Total Convertible Preferred Stock
(Cost $950,539) 		    $866,304
  Preferred Stock — 1.4% of Net Assets  
  Capital Markets — 0.0%†  
2,144 B Riley Financial, Inc., 6.75%, 5/31/24 $     52,957
  Total Capital Markets      $52,957
15Pioneer High Income Fund, Inc. |  | 6/30/23
Shares           Value
  Communications Equipment — 0.0%†  
129,055 MYT Holding LLC, 10.00%, 6/6/29 $     74,206
  Total Communications Equipment      $74,206
  Financial Services — 1.4%  
3,000(c)(f) Compeer Financial ACA, 6.75% (3 Month USD LIBOR + 484 bps) (144A) $  3,009,087
  Total Financial Services   $3,009,087
  Total Preferred Stock
(Cost $3,288,282) 		  $3,136,250
  Right/Warrant — 0.0%† of Net Assets  
  Aerospace & Defense — 0.0%†  
GBP21,700(b) Avation Plc, 1/1/59 $      8,957
  Total Aerospace & Defense       $8,957
  Total Right/Warrant
(Cost $—) 		      $8,957
Principal
Amount
USD ($) 		           
  Insurance-Linked Securities — 5.7%
of Net Assets# 		 
  Event Linked Bonds — 0.7%  
  Flood – U.S. — 0.3%  
250,000(a) FloodSmart Re, 17.114%, (3 Month U.S. Treasury Bill + 1,183 bps), 2/25/25 (144A) $    236,325
250,000(a) FloodSmart Re, 18.864%, (3 Month U.S. Treasury Bill + 1,358 bps), 3/1/24 (144A)      234,475
250,000(a) FloodSmart Re, 21.534%, (1 Month U.S. Treasury Bill + 1,625 bps), 3/11/26 (144A)     252,000
                $722,800
  Multiperil – U.S. — 0.3%  
250,000(a) Matterhorn Re, 10.341%, (SOFR + 525 bps), 3/24/25 (144A) $    237,100
250,000(a) Matterhorn Re, 12.841%, (SOFR + 775 bps), 3/24/25 (144A)      237,475
250,000(a) Residential Reinsurance Re 2021, 17.194%, (3 Month U.S. Treasury Bill + 1,191 bps), 12/6/25 (144A)     223,375
                $697,950
Pioneer High Income Fund, Inc. |  | 6/30/2316
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Principal
Amount
USD ($) 		          Value
  Windstorm – U.S. — 0.1%  
250,000(a) Bonanza Re, 13.534%, (3 Month U.S. Treasury Bill + 825 bps), 1/8/26 (144A) $    247,525
  Total Event Linked Bonds   $1,668,275
Face
Amount
USD ($) 		           
  Collateralized Reinsurance — 0.4%  
  Multiperil – Massachusetts — 0.2%  
350,000(b)(j)+ Portsalon Re 2022, 5/31/28 $    320,922
  Multiperil – U.S. — 0.1%  
250,000(b)(j)+ Ballybunion Re 2023, 12/31/28 $    257,065
  Multiperil – Worldwide — 0.1%  
250,000(j)+ Amaranth Re 2023, 12/31/28 $    235,511
500,000(b)(j)+ Cypress Re 2017, 1/31/24           50
54,000(b)(j)+ Limestone Re 2019-2B, 10/1/23 (144A)          —
                $235,561
  Total Collateralized Reinsurance     $813,548
  Reinsurance Sidecars — 4.6%  
  Multiperil – U.S. — 0.0%†  
500,000(b)(k)+ Harambee Re 2018, 12/31/24 $         —
600,000(k)+ Harambee Re 2019, 12/31/24       1,020
                  $1,020
  Multiperil – Worldwide — 4.6%  
24,550(k)+ Alturas Re 2019-3, 9/12/23 $      2,308
40,466(k)+ Alturas Re 2022-2, 12/31/27       18,359
1,000,000(b)(j)+ Bantry Re 2022, 12/31/27      116,861
1,500,000(b)+ Bantry Re 2023, 12/31/28   1,627,500
834,446(b)(j)+ Berwick Re 2019-1, 12/31/24      133,094
1,000,000(b)(j)+ Berwick Re 2022, 12/31/27       63,758
1,000,000(b)+ Berwick Re 2023, 12/31/28   1,075,000
750,000(b)(j)+ Gleneagles Re 2022, 12/31/27      370,743
1,063,659(j)+ Gullane Re 2023, 12/31/28   1,149,053
499,318(b)(k)+ Lorenz Re 2019, 6/30/24        5,542
500,000(j)+ Merion Re 2018-2, 12/31/24       34,992
1,000,000(b)(j)+ Merion Re 2022-2, 12/31/27      948,112
350,000(b)(j)+ Pangaea Re 2022-3, 5/31/28      378,088
1,250,000(b)(j)+ Pangaea Re 2023-1, 12/31/28   1,343,750
20,000(j)+ Sector Re V, 12/1/24 (144A)       34,426
17Pioneer High Income Fund, Inc. |  | 6/30/23
Face
Amount
USD ($) 		          Value
  Multiperil – Worldwide — (continued)  
30,000(b)(j)+ Sector Re V, 12/1/26 (144A) $    172,485
1,000,000(b)(j)+ Sector Re V, 12/1/27 (144A)   1,070,500
250,000(j)+ Sussex Re 2020-1, 12/31/24          325
1,500,000(k)+ Thopas Re 2022, 12/31/27           —
1,596,147(b)(k)+ Thopas Re 2023, 12/31/28   1,732,618
253,645(b)(j)+ Woburn Re 2018, 12/31/24        5,600
244,914(b)(j)+ Woburn Re 2019, 12/31/24      42,390
             $10,325,504
  Total Reinsurance Sidecars  $10,326,524
  Total Insurance-Linked Securities
(Cost $12,121,474) 		 $12,808,347
Principal
Amount
USD ($) 		           
  Foreign Government Bond — 0.1% of
Net Assets 		 
  Russia — 0.1%  
382,800(i)(l) Russian Government International Bond, 7.500%, 3/31/30 $    249,907
  Total Russia     $249,907
  Total Foreign Government Bond
(Cost $313,578) 		    $249,907
Shares            
  SHORT TERM INVESTMENTS — 1.0% of Net
Assets 		 
  Open-End Fund — 1.0%  
2,219,629(m) Dreyfus Government Cash Management,
Institutional Shares, 5.00% 		$  2,219,629
              $2,219,629
  TOTAL SHORT TERM INVESTMENTS
(Cost $2,219,629) 		  $2,219,629
Pioneer High Income Fund, Inc. |  | 6/30/2318
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Number of
Contracts 		Description Counterparty Amount Strike
Price 		Expiration
Date 		Value
  Over The Counter (OTC) Currency Put Option Purchased — 0.0%†  
3,150,000 Put EUR Call USD Citibank NA EUR 66,331 EUR 1.02 11/28/23 $5,028
  Total Over The Counter (OTC) Currency Put Option Purchased
(Premiums paid $ 66,331) 		$5,028
  TOTAL OPTIONS PURCHASED
(Premiums paid $ 66,331) 		$5,028
  TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 146.6%
(Cost $350,542,233) 		$328,752,251
  Over The Counter (OTC) Currency Call Option Written — (0.0%)†  
3,150,000 Call EUR Put USD Citibank NA EUR 66,331 EUR 1.10 11/28/23 $(55,313)
  Total Over The Counter (OTC) Currency Call Option Written
(Premiums received $66,331) 		$(55,313)
  OTHER ASSETS AND LIABILITIES — (46.6)% $(104,523,827)
  net assets — 100.0% $224,173,111
             
bps Basis Points.
CMT Constant Maturity Treasury Index.
FREMF Freddie Mac Multifamily Fixed-Rate Mortgage Loans.
LIBOR London Interbank Offered Rate.
SOFR Secured Overnight Financing Rate.
SOFR30A Secured Overnight Financing Rate 30 Day Average.
(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 June 30, 2023, the value of these securities amounted to $259,131,875, or 115.6% of net assets.
(a) Floating rate note. Coupon rate, reference index and spread shown at June 30, 2023.
(b) Non-income producing security.
(c) The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at June 30, 2023.
(d) Security is priced as a unit.
(e) Security issued with a zero coupon. Income is recognized through accretion of discount.
(f) Security is perpetual in nature and has no stated maturity date.
(g) Securities purchased on a when-issued basis. Rates do not take effect until settlement date.
(h) Payment-in-kind (PIK) security which may pay interest in the form of additional principal amount.
(i) Security is in default.
19Pioneer High Income Fund, Inc. |  | 6/30/23
(j) Issued as participation notes.
(k) Issued as preference shares.
(l) Debt obligation initially issued at one coupon which converts to a higher coupon at a specific date. The rate shown is the rate at June 30, 2023.
(m) Rate periodically changes. Rate disclosed is the 7-day yield at June 30, 2023.
* Senior secured floating rate loan interests in which the Fund invests generally pay interest at rates that are periodically re-determined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as LIBOR or SOFR, (ii) the prime rate offered by one or more major United States banks, (iii) the rate of a certificate of deposit or (iv) other base lending rates used by commercial lenders. The interest rate shown is the rate accruing at June 30, 2023.
† Amount rounds to less than 0.1%.
+ Security is valued using significant unobservable inputs (Level 3).
# Securities are restricted as to resale.
Restricted Securities Acquisition date Cost Value
Alturas Re 2019-3 6/26/2019 $24,550 $2,308
Alturas Re 2022-2 4/11/2023 15,227 18,359
Amaranth Re 2023 1/27/2023 208,962 235,511
Ballybunion Re 2023 3/20/2023 250,000 257,065
Bantry Re 2022 1/28/2022 74,179 116,861
Bantry Re 2023 1/12/2023 1,500,000 1,627,500
Berwick Re 2019-1 12/31/2018 99,709 133,094
Berwick Re 2022 12/28/2021 62,358 63,758
Berwick Re 2023 2/1/2023 1,000,000 1,075,000
Bonanza Re 1/6/2023 250,000 247,525
Cypress Re 2017 1/24/2017 1,681 50
FloodSmart Re 2/8/2022 248,716 234,475
FloodSmart Re 2/14/2022 250,000 236,325
FloodSmart Re 2/23/2023 250,000 252,000
Gleneagles Re 2022 1/18/2022 347,306 370,743
Gullane Re 2023 1/20/2023 1,063,659 1,149,053
Harambee Re 2018 12/19/2017 10,612 —
Harambee Re 2019 12/20/2018 — 1,020
Limestone Re 2019-2B 6/20/2018 359 —
Lorenz Re 2019 6/26/2019 93,773 5,542
Matterhorn Re 3/10/2022 250,000 237,100
Matterhorn Re 3/10/2022 250,000 237,475
Merion Re 2018-2 12/28/2017 — 34,992
Merion Re 2022-2 2/22/2022 1,000,000 948,112
Pangaea Re 2022-3 6/15/2022 350,000 378,088
Pangaea Re 2023-1 1/23/2023 1,250,000 1,343,750
Portsalon Re 2022 7/15/2022 283,022 320,922
Residential Reinsurance Re 2021 10/28/2021 250,000 223,375
Pioneer High Income Fund, Inc. |  | 6/30/2320
Schedule of Investments  |  6/30/23
(unaudited) (continued)
Restricted Securities Acquisition date Cost Value
Sector Re V 1/1/2020 $529 $34,426
Sector Re V 12/6/2021 30,000 172,485
Sector Re V 12/30/2022 1,000,000 1,070,500
Sussex Re 2020-1 1/23/2020 — 325
Thopas Re 2022 2/7/2022 — —
Thopas Re 2023 2/15/2023 1,596,147 1,732,618
Woburn Re 2018 3/20/2018 76,754 5,600
Woburn Re 2019 1/30/2019 33,931 42,390
Total Restricted Securities     $12,808,347
% of Net assets     5.7%
FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS
Currency
Purchased 		In
Exchange for 		Currency
Sold 		Deliver Counterparty Settlement
Date 		Unrealized
Appreciation
EUR 297,000 USD 321,899 Citibank NA 8/25/23 $3,089
EUR 5,000,000 USD 5,467,604 JPMorgan Chase Bank NA 9/28/23 13,420
USD 5,885,851 EUR 5,332,500 JPMorgan Chase Bank NA 7/25/23 59,489
USD 770,808 GBP 605,000 State Street Bank & Trust Co. 9/26/23 2,316
TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS $78,314
21Pioneer High Income Fund, Inc. |  | 6/30/23
SWAP CONTRACTS
OVER THE COUNTER (OTC) CREDIT DEFAULT SWAP CONTRACTS – SELL PROTECTION
Notional
Amount ($)(1) 		Counterparty Reference
Obligation
/Index 		Pay/
Receive(2) 		Annual
Fixed Rate 		Expiration
Date 		Premiums
(Received) 		Unrealized
Appreciation
(Depreciation) 		Market
Value
988,000 JPMorgan Chase Bank NA United Airlines Holdings, Inc. Receive 5.00% 6/20/27 $(72,944) $111,609 $38,665
329,000 JPMorgan Chase Bank NA United Airlines Holdings, Inc. Receive 5.00% 6/20/27 (27,679) 40,555 12,875
433,000 JPMorgan Chase Bank NA United Airlines Holdings, Inc. Receive 5.00% 6/20/27 (36,450) 53,395 16,945
TOTAL OVER THE COUNTER (OTC) CREDIT
DEFAULT SWAP CONTRACTS – SELL PROTECTION 		$(137,073) $205,559 $68,485
TOTAL SWAP CONTRACTS   $(137,073) $205,559 $68,485
   
(1) The notional amount is the maximum amount that a seller of credit protection would be obligated to pay upon occurrence of a credit event.
(2) Receives quarterly.
Principal amounts are denominated in U.S. dollars (“USD”) unless otherwise noted.
EUR — Euro
GBP — Great British Pound
IDR — Indonesian Rupiah
USD — United States Dollar
Pioneer High Income Fund, Inc. |  | 6/30/2322
Schedule of Investments  |  6/30/23
(unaudited) (continued)
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 June 30, 2023, in valuing the Fund's investments:
  Level 1 Level 2 Level 3 Total
Senior Secured Floating Rate Loan Interests $— $8,584,853 $— $8,584,853
Common Stocks        
Chemicals 2,020 — — 2,020
Oil, Gas & Consumable Fuels 142 402 — 544
Passenger Airlines — — 668,376 668,376
Collateralized Mortgage Obligations — 5,239,293 — 5,239,293
Commercial Mortgage-Backed Securities — 8,451,643 — 8,451,643
Convertible Corporate Bonds — 5,579,604 — 5,579,604
Corporate Bonds — 280,931,496 — 280,931,496
Convertible Preferred Stock 866,304 — — 866,304
Preferred Stock        
Capital Markets 52,957 — — 52,957
All Other Preferred Stock — 3,083,293 — 3,083,293
Right/Warrant 8,957 — — 8,957
Insurance-Linked Securities        
Collateralized Reinsurance        
Multiperil – Massachusetts — — 320,922 320,922
Multiperil – U.S. — — 257,065 257,065
Multiperil – Worldwide — — 235,561 235,561
Reinsurance Sidecars        
Multiperil – U.S. — — 1,020 1,020
Multiperil – Worldwide — — 10,325,504 10,325,504
All Other Insurance-Linked Securities — 1,668,275 — 1,668,275
Foreign Government Bond — 249,907 — 249,907
Open-End Fund 2,219,629 — — 2,219,629
Over The Counter (OTC) Currency Put Option Purchased — 5,028 — 5,028
Total Investments in Securities $3,150,009 $313,793,794 $11,808,448 $328,752,251
23Pioneer High Income Fund, Inc. |  | 6/30/23
  Level 1 Level 2 Level 3 Total
Other Financial Instruments        
Credit Agreement(a) $— $(108,500,000) $— $(108,500,000)
Over The Counter (OTC) Currency Call Option Written — (55,313) — (55,313)
Net unrealized appreciation on forward foreign currency exchange contracts — 78,314 — 78,314
Swap contracts, at value — 68,485 — 68,485
Total Other Financial Instruments $— $(108,408,514) $— $(108,408,514)
(a) The Fund may hold liabilities in which the fair value approximates the carrying amount for financial statement purposes.
The following is a reconciliation of assets valued using significant unobservable inputs (Level 3):
  Common
Stocks 		Insurance-
Linked
Securities 		Total
Balance as of 3/31/23 $634,883 $10,623,431 $11,258,314
Realized gain (loss) — (386,160) (386,160)
Changed in unrealized appreciation (depreciation) 33,493 656,644 690,137
Accrued discounts/premiums — (21,815) (21,815)
Purchases — 589,406 589,406
Sales — (321,434) (321,434)
Transfers in to Level 3* — — —
Transfers out of Level 3* — — —
Balance as of 6/30/23 $668,376 $11,140,072 $11,808,448
* Transfers are calculated on the beginning of period value. During the period ended June 30, 2023, therewere no transfers in or out of Level 3.
Net change in unrealized appreciation (depreciation) of Level 3 investments still held and considered Level 3 at June 30, 2023: $404,734
Pioneer High Income Fund, Inc. |  | 6/30/2324
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