```

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-Q

                   QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
    OF REGISTERED MANAGEMENT INVESTMENT COMPANY

  Investment Company Act file number 811-07318

                        Pioneer Series Trust VIII
               (Exact name of registrant as specified in charter)

                       60 State Street, Boston, MA 02109
              (Address of principal executive offices) (ZIP code)

            Terrence J. Cullen, Pioneer Investment Management, Inc.,
                       60 State Street, Boston, MA 02109
                    (Name and address of agent for service)

Registrant's telephone number, including area code:  (617) 742-7825

Date of fiscal year end:  November 30

Date of reporting period:  February 28, 2017

Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5).  The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609.  The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.

<PAGE>
ITEM 1. Schedule of Investments.

File the schedules as of the close of the reporting period as set forth in
ss. 210.12-12  12-14 of Regulation S-X [17 CFR 210.12-12  12-14]. The
schedules need not be audited.
```

```

```

|                                                                                                                                                       |      |   |   | Pioneer International Equity Fund                                                             |   |                                                                    |   |   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|--------|--------|-----------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------|--------|--------|--------|
|                                                                                                                                                       |      |   |   | Schedule of Investments 2/28/2017 (unaudited)                                                 |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       | Shares    |   |   |                                                                                          |   | Value                                                                   |   |   |   |
|                                                                                                                                                       |      |   |   | COMMON STOCKS - 97.6%                                                                         |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Energy - 5.0%                                                                                 |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Oil & Gas Equipment & Services - 1.7%                                                 |   |                                                                    |   |   |   |
|                                                                                                                                                       | 32,200    |   |   | Schlumberger, Ltd.                                                                            | $      | 2,587,592                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Integrated Oil & Gas - 3.3%                                                               |   |                                                                    |   |   |   |
|                                                                                                                                                       | 95,300    |   |   | Royal Dutch Shell Plc                                                                         | $      | 2,462,558                                                               |   |   |   |
|                                                                                                                                                       | 54,300    |   |   | TOTAL SA                                                                                      |   | 2,711,419                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 5,173,977                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Energy                                                                                  | $      | 7,761,569                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Materials - 7.0%                                                                              |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Diversified Chemicals - 0.7%                                                                  |   |                                                                    |   |   |   |
|                                                                                                                                                       | 12,400    |   |   | BASF SE                                                                                       | $      | 1,152,548                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Specialty Chemicals - 1.8%                                                                    |   |                                                                    |   |   |   |
|                                                                                                                                                       | 65,882    |   |   | Croda International Plc                                                                       | $      | 2,864,316                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Construction Materials - 1.3%                                                                 |   |                                                                    |   |   |   |
|                                                                                                                                                       | 58,900    |   |   | CRH Plc                                                                                       | $      | 1,984,753                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Paper Packaging - 3.2%                                                                        |   |                                                                    |   |   |   |
|                                                                                                                                                       | 210,100   |   |   | Amcor, Ltd.                                                                                   | $      | 2,263,637                                                               |   |   |   |
|                                                                                                                                                       | 103,000   |   |   | Smurfit Kappa Group Plc                                                                       |   | 2,738,859                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 5,002,496                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Materials                                                                               | $      | 11,004,113                                                              |   |   |   |
|                                                                                                                                                       |      |   |   | Capital Goods - 15.2%                                                                         |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Aerospace & Defense - 2.0%                                                                |   |                                                                    |   |   |   |
|                                                                                                                                                       | 407,600   |   |   | BAE Systems Plc                                                                               | $      | 3,189,991                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Building Products - 4.0%                                                                      |   |                                                                    |   |   |   |
|                                                                                                                                                       | 32,700    |   |   | Daikin Industries, Ltd.                                                                       | $      | 3,110,989                                                               |   |   |   |
|                                                                                                                                                       | 100,800   |   |   | Kingspan Group Plc                                                                            |   | 3,092,805                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 6,203,794                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Electrical Components & Equipment - 3.6%                                                  |   |                                                                    |   |   |   |
|                                                                                                                                                       | 110,900   |   |   | ABB, Ltd.                                                                                     | $      | 2,509,738                                                               |   |   |   |
|                                                                                                                                                       | 46,100    |   |   | Schneider Electric SE                                                                         |   | 3,122,114                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 5,631,852                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Heavy Electrical Equipment - 1.6%                                                             |   |                                                                    |   |   |   |
|                                                                                                                                                       | 165,700   |   |   | Mitsubishi Electric Corp.                                                                     | $      | 2,434,875                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Industrial Conglomerates - 2.1%                                                               |   |                                                                    |   |   |   |
|                                                                                                                                                       | 24,900    |   |   | Siemens AG                                                                                    | $      | 3,240,287                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Agricultural & Farm Machinery - 1.9%                                                      |   |                                                                    |   |   |   |
|                                                                                                                                                       | 184,000   |   |   | Kubota Corp.                                                                                  | $      | 2,933,488                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Capital Goods                                                                           | $      | 23,634,287                                                              |   |   |   |
|                                                                                                                                                       |      |   |   | Automobiles & Components - 2.7%                                                           |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Auto Parts & Equipment - 2.7%                                                             |   |                                                                    |   |   |   |
|                                                                                                                                                       | 81,800    |   |   | NGK Spark Plug Co., Ltd.                                                                      | $      | 1,856,050                                                               |   |   |   |
|                                                                                                                                                       | 37,600    |   |   | Valeo SA                                                                                      |   | 2,312,173                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 4,168,223                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Automobiles & Components                                                            | $      | 4,168,223                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Consumer Durables & Apparel - 5.0%                                                        |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Consumer Electronics - 1.0%                                                                   |   |                                                                    |   |   |   |
|                                                                                                                                                       | 147,300   |   |   | Panasonic Corp.                                                                               | $      | 1,620,011                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Homebuilding - 2.5%                                                                           |   |                                                                    |   |   |   |
|                                                                                                                                                       | 1,225,368 |   |   | Cairn Homes Plc                                                                               | $      | 1,664,576                                                               |   |   |   |
|                                                                                                                                                       | 87,100    |   |   | Persimmon Plc                                                                                 |   | 2,228,065                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 3,892,641                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Household Appliances - 1.0%                                                                   |   |                                                                    |   |   |   |
|                                                                                                                                                       | 60,000    |   |   | Electrolux AB                                                                                 | $      | 1,590,982                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Apparel, Accessories & Luxury Goods - 0.5%                                                |   |                                                                    |   |   |   |
|                                                                                                                                                       | 6,100     |   |   | Pandora A/S                                                                                   | $      | 695,798                                                                 |   |   |   |
|                                                                                                                                                       |      |   |   | Total Consumer Durables & Apparel                                                         | $      | 7,799,432                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Consumer Services - 3.2%                                                                      |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Hotels, Resorts & Cruise Lines - 1.4%                                                     |   |                                                                    |   |   |   |
|                                                                                                                                                       | 40,500    |   |   | Carnival Plc                                                                                  | $      | 2,203,981                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Restaurants - 1.8%                                                                            |   |                                                                    |   |   |   |
|                                                                                                                                                       | 57,400    |   |   | Whitbread Plc                                                                                 | $      | 2,724,296                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Consumer Services                                                                       | $      | 4,928,277                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Media - 2.5%                                                                                  |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Advertising - 1.3%                                                                            |   |                                                                    |   |   |   |
|                                                                                                                                                       | 30,000    |   |   | Publicis Groupe SA                                                                            | $      | 2,022,932                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Broadcasting - 1.2%                                                                           |   |                                                                    |   |   |   |
|                                                                                                                                                       | 735,700   |   |   | ITV Plc                                                                                       | $      | 1,851,311                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Media                                                                                   | $      | 3,874,243                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Food & Staples Retailing - 1.3%                                                           |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Drug Retail - 1.3%                                                                            |   |                                                                    |   |   |   |
|                                                                                                                                                       | 31,400    |   |   | Sundrug Co., Ltd.                                                                             | $      | 2,066,948                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Food & Staples Retailing                                                            | $      | 2,066,948                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Food, Beverage & Tobacco - 5.2%                                                           |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Packaged Foods & Meats - 5.2%                                                             |   |                                                                    |   |   |   |
|                                                                                                                                                       | 41,500    |   |   | Danone SA                                                                                     | $      | 2,746,992                                                               |   |   |   |
|                                                                                                                                                       | 41,100    |   |   | Kerry Group Plc                                                                               |   | 3,155,621                                                               |   |   |   |
|                                                                                                                                                       | 29,600    |   |   | Nestle SA                                                                                     |   | 2,188,598                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 8,091,211                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Food, Beverage & Tobacco                                                            | $      | 8,091,211                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Household & Personal Products - 5.2%                                                      |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Household Products - 1.4%                                                                     |   |                                                                    |   |   |   |
|                                                                                                                                                       | 20,900    |   |   | Henkel AG & Co. KGaA                                                                      | $      | 2,253,982                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Personal Products - 3.8%                                                                      |   |                                                                    |   |   |   |
|                                                                                                                                                       | 14,400    |   |   | L'Oreal SA                                                                                    | $      | 2,678,893                                                               |   |   |   |
|                                                                                                                                                       | 68,400    |   |   | Unilever NV                                                                                   |   | 3,233,279                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 5,912,172                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Household & Personal Products                                                       | $      | 8,166,154                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Health Care Equipment & Services - 3.5%                                                   |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Health Care Supplies - 1.9%                                                                   |   |                                                                    |   |   |   |
|                                                                                                                                                       | 67,600    |   |   | Hoya Corp.                                                                                    | $      | 3,065,135                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Health Care Services - 1.6%                                                                   |   |                                                                    |   |   |   |
|                                                                                                                                                       | 31,200    |   |   | Fresenius SE & Co. KGaA                                                                   | $      | 2,478,255                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Health Care Equipment & Services                                                    | $      | 5,543,390                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Pharmaceuticals, Biotechnology & Life Sciences - 6.5%                                     |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Biotechnology - 1.8%                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       | 47,700    |   |   | Shire Plc                                                                                     | $      | 2,871,616                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Pharmaceuticals - 3.7%                                                                        |   |                                                                    |   |   |   |
|                                                                                                                                                       | 33,800    |   |   | Novartis AG                                                                                   | $      | 2,638,965                                                               |   |   |   |
|                                                                                                                                                       | 12,606    |   |   | Roche Holding AG                                                                              |   | 3,069,820                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 5,708,785                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Life Sciences Tools & Services - 1.0%                                                     |   |                                                                    |   |   |   |
|                                                                                                                                                       | 19,600    |   |   | Gerresheimer AG                                                                               | $      | 1,535,691                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Pharmaceuticals, Biotechnology & Life Sciences                                      | $      | 10,116,092                                                              |   |   |   |
|                                                                                                                                                       |      |   |   | Banks - 8.0%                                                                                  |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Diversified Banks - 8.0%                                                                      |   |                                                                    |   |   |   |
|                                                                                                                                                       | 701,500   |   |   | Aldermore Group Plc                                                                           | $      | 2,014,665                                                               |   |   |   |
|                                                                                                                                                       | 836,700   |   |   | Barclays Plc                                                                                  |   | 2,347,443                                                               |   |   |   |
|                                                                                                                                                       | 53,300    |   |   | BNP Paribas SA                                                                                |   | 3,115,727                                                               |   |   |   |
|                                                                                                                                                       | 178,400   |   |   | ING Groep NV                                                                                  |   | 2,461,545                                                               |   |   |   |
|                                                                                                                                                       | 102,000   |   |   | Swedbank AB                                                                                   |   | 2,517,114                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 12,456,494                                                              |   |   |   |
|                                                                                                                                                       |      |   |   | Total Banks                                                                                   | $      | 12,456,494                                                              |   |   |   |
|                                                                                                                                                       |      |   |   | Diversified Financials - 2.7%                                                                 |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Diversified Capital Markets - 1.3%                                                            |   |                                                                    |   |   |   |
|                                                                                                                                                       | 130,000   |   |   | UBS Group AG                                                                                  | $      | 2,003,739                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Financial Exchanges & Data - 1.4%                                                         |   |                                                                    |   |   |   |
|                                                                                                                                                       | 50,500    |   |   | Euronext NV                                                                                   | $      | 2,178,592                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Diversified Financials                                                                  | $      | 4,182,331                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Insurance - 4.0%                                                                              |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Multi-line Insurance - 4.0%                                                                   |   |                                                                    |   |   |   |
|                                                                                                                                                       | 127,300   |   |   | AXA SA                                                                                        | $      | 3,006,081                                                               |   |   |   |
|                                                                                                                                                       | 11,500    |   |   | Zurich Insurance Group AG                                                                     |   | 3,176,595                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 6,182,676                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Insurance                                                                               | $      | 6,182,676                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Software & Services - 0.8%                                                                |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | IT Consulting & Other Services - 0.8%                                                     |   |                                                                    |   |   |   |
|                                                                                                                                                       | 94,418    |   |   | HCL Technologies, Ltd.                                                                        | $      | 1,187,919                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Software & Services                                                                 | $      | 1,187,919                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Technology Hardware & Equipment - 4.4%                                                    |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Technology Hardware, Storage & Peripherals - 1.3%                                         |   |                                                                    |   |   |   |
|                                                                                                                                                       | 1,200     |   |   | Samsung Electronics Co., Ltd.                                                                 | $      | 2,029,705                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Electronic Equipment Manufacturers - 1.6%                                                     |   |                                                                    |   |   |   |
|                                                                                                                                                       | 6,400     |   |   | Keyence Corp.                                                                                 | $      | 2,479,824                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Electronic Components - 1.5%                                                                  |   |                                                                    |   |   |   |
|                                                                                                                                                       | 76,700    |   |   | Alps Electric Co., Ltd.                                                                       | $      | 2,289,508                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Technology Hardware & Equipment                                                     | $      | 6,799,037                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Semiconductors & Semiconductor Equipment - 4.9%                                           |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Semiconductor Equipment - 1.4%                                                                |   |                                                                    |   |   |   |
|                                                                                                                                                       | 21,200    |   |   | Tokyo Electron, Ltd.                                                                          | $      | 2,119,683                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Semiconductors - 3.5%                                                                         |   |                                                                    |   |   |   |
|                                                                                                                                                       | 165,900   |   |   | Infineon Technologies AG                                                                      | $      | 2,953,169                                                               |   |   |   |
|                                                                                                                                                       | 417,000   |   |   | Taiwan Semiconductor Manufacturing Co., Ltd.                                                  |   | 2,552,287                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 5,505,456                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Semiconductors & Semiconductor Equipment                                            | $      | 7,625,139                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Telecommunication Services - 3.6%                                                             |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Integrated Telecommunication Services - 2.4%                                                  |   |                                                                    |   |   |   |
|                                                                                                                                                       | 46,500    |   |   | Nippon Telegraph & Telephone Corp.                                                        | $      | 1,969,394                                                               |   |   |   |
|                                                                                                                                                       | 119,100   |   |   | Orange SA                                                                                     |   | 1,800,400                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 3,769,794                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Wireless Telecommunication Services - 1.2%                                                    |   |                                                                    |   |   |   |
|                                                                                                                                                       | 71,700    |   |   | KDDI Corp.                                                                                    | $      | 1,878,525                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Telecommunication Services                                                              | $      | 5,648,319                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Utilities - 1.4%                                                                              |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Electric Utilities - 1.4%                                                                     |   |                                                                    |   |   |   |
|                                                                                                                                                       | 112,600   |   |   | SSE Plc                                                                                       | $      | 2,153,347                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Utilities                                                                               | $      | 2,153,347                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Real Estate - 5.6%                                                                            |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Diversified REIT - 1.4%                                                                       |   |                                                                    |   |   |   |
|                                                                                                                                                       | 1,665,215 |   |   | Hibernia Real Estate Investment Trust plc                                                     | $      | 2,184,859                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Diversified REIT - 1.8%                                                                       |   |                                                                    |   |   |   |
|                                                                                                                                                       | 507,700   |   |   | Hibernia Real Estate Investment Trust plc                                                     | $      | 649,707                                                                 |   |   |   |
|                                                                                                                                                       | 189,000   |   |   | Merlin Properties Socimi SA                                                                   |   | 2,140,105                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 2,789,812                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Real Estate Operating Companies - 2.4%                                                        |   |                                                                    |   |   |   |
|                                                                                                                                                       | 91,200    |   |   | Grand City Properties SA                                                                      | $      | 1,738,495                                                               |   |   |   |
|                                                                                                                                                       | 59,299    |   |   | Vonovia SE                                                                                    |   | 2,067,243                                                               |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          | $      | 3,805,738                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | Total Real Estate                                                                             | $      | 8,780,409                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | TOTAL COMMON STOCKS                                                                           |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | (Cost $140,092,400)                                                                           | $      | 152,169,610                                                             |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | TOTAL INVESTMENT IN SECURITIES - 97.6%                                                        |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | (Cost $140,092,400) (a) (b)                                                                   | $      | 152,169,610                                                             |   |   |   |
|                                                                                                                                                       |      |   |   | OTHER ASSETS & LIABILITIES - 2.4%                                                         | $      | 3,706,340                                                               |   |   |   |
|                                                                                                                                                       |      |   |   | TOTAL NET ASSETS - 100.0%                                                                     | $      | 155,875,950                                                             |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       | REIT      |   |   | Real Estate Investment Trust.                                                                 |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       | (a)       |   |   | At February 28, 2017, the net unrealized appreciation on investments based on                 |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | cost for federal income tax purposes of $141,069,998 was as follows:                          |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Aggregate gross unrealized appreciation for all investments in which                          |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | there is an excess of value over tax cost                                                     | $      |           16,825,662  |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Aggregate gross unrealized depreciation for all investments in which                          |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | there is an excess of tax cost over value                                                     |   |           (5,726,050) |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Net unrealized appreciation                                                                   | $      |           11,099,612  |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       | (b)       |   |   | Distributions of investments by country of domicile (excluding temporary cash investments) as |   |                                                                    |   |
|                                                                                                                                                       |      |   |   | a percentage of total investment in securities, is as follows:                                |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Japan                                                                                         |   | 18.3                                                                    | %      |   |   |
|                                                                                                                                                       |      |   |   | United Kingdom                                                                                |   | 15.8                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | France                                                                                        |   | 15.5                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Ireland                                                                                       |   | 12.1                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Germany                                                                                       |   | 10.3                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Switzerland                                                                                   |   | 10.2                                                                    |   |   |   |
|                                                                                                                                                       |      |   |   | Netherlands                                                                                   |   | 5.2                                                                     |   |   |   |
|                                                                                                                                                       |      |   |   | Sweden                                                                                        |   | 2.7                                                                     |   |   |   |
|                                                                                                                                                       |      |   |   | Curacao                                                                                       |   | 1.7                                                                     |   |   |   |
|                                                                                                                                                       |      |   |   | Taiwan, Province Of China                                                                     |   | 1.7                                                                     |   |   |   |
|                                                                                                                                                       |      |   |   | Australia                                                                                     |   | 1.5                                                                     |   |   |   |
|                                                                                                                                                       |      |   |   | Spain                                                                                         |   | 1.4                                                                     |   |   |   |
|                                                                                                                                                       |      |   |   | South Korea                                                                                   |   | 1.3                                                                     |   |   |   |
|                                                                                                                                                       |      |   |   | Other (individually less than 1%)                                                             |   | 1.2                                                                     |   |   |   |
|                                                                                                                                                       |      |   |   | Luxembourg                                                                                    |   | 1.1                                                                     |   |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   | 100.0                                                                   | %      |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
| Various inputs are used in determining the value of the Fund's investments.  These inputs are summarized in the three broad levels listed below. |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
| Level 1 – 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 risk, etc.) |
| Level 3 – significant unobservable inputs (Including the Fund's own assumptions in determining fair value of investments)                            |      |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |
| The following is a summary of the inputs used as of February 28, 2017, in valuing the Fund’s investments:                                            |      |   |   |
|                                                                                                                                                       |      |   |   |                                                                                          |   |                                                                    |   |   |   |

|   |   |                                                           |                                                                                                                | Level 1 |      |   | Level 2 |   |        | Level 3 |   |   | Total  |   |
|--------|--------|----------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------|---------|-----------|--------|---------|--------|-------------|---------|--------|--------|--------|--------|
|   |   | Common Stocks                                                  |                                                                                                                |    |      |   |    |   |        |    |   |   |   |   |
|   |   |   Energy                                             |                                                                                                                |    |      |   |    |   |        |    |   |   |   |   |
|   |   |     Oil & Gas Equipment & Services |                                                                                                                | $       | 2,587,592 |   |    | $      | -           |    |   | $      | -      |   |   | $ | 2,587,592 |   |
|   |   |   All Other Common Stocks *                          |                                                                                                                |    | -         |   |    |   | 149,582,018 |    |   |   | -      |   |   |   | 149,582,018 |   |
|   |   | Total                                                          |                                                                                                                | $       | 2,587,592 |   |    | $      | 149,582,018 |    |   | $      | -      |   |   | $ | 152,169,610 |   |
|   |   |                                                           |                                                                                                                |    |      |   |    |   |        |    |   |   |   |   |   |   |   |   |
|   | *      |                                                           | Level 2 securities are valued using inputs/data furnished by independent pricing services using fair value factors. |    |      |   |    |   |
|   |   |                                                           |                                                                                                                |    |      |   |    |   |        |    |   |   |   |   |   |   |   |   |   |
|   |   |                                                           | During the period ended February 28, 2017, there were no transfers between Levels 1, 2 and 3.                       |    |      |   |    |   |        |    |   |   |   |   |   |   |