```

                                                             OMB APPROVAL
                                                     OMB Number:       3235-0578
                                                     Expires:  January 31, 2016
                                                     Estimated average burden
                                                     hours per response.....
                                                     10.5

                                 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 811-08547

                         Pioneer Series Trust XII
               (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:  August 31

Date of reporting period:  May 31, 2015

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 Disciplined Growth Fund                                                                                                               |   |                                                                                       |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------|
|                                                                                                                                                             |      |   |   | Schedule of Investments 5/31/15 (unaudited)                                                                                                   |   |                                                                                       |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             | Shares    |   |   |                                                                                                                                          |   | Value                                                                                      |
|                                                                                                                                                             |      |   |   | COMMON STOCKS - 98.9%                                                                                                                         |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Energy - 3.3%                                                                                                                                 |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Oil & Gas Exploration & Production - 3.3%                                                                                             |   |                                                                                       |
|                                                                                                                                                             | 298,716   |   |   | Cabot Oil & Gas Corp.                                                                                                                     | $      | 10,144,395                                                                                 |
|                                                                                                                                                             | 151,067   |   |   | EOG Resources, Inc.                                                                                                                           |   | 13,398,132                                                                                 |
|                                                                                                                                                             | 497,410   |   |   | Southwestern Energy Co. *                                                                                                                     |   | 12,818,256                                                                                 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 36,360,783                                                                                 |
|                                                                                                                                                             |      |   |   | Total Energy                                                                                                                                  | $      | 36,360,783                                                                                 |
|                                                                                                                                                             |      |   |   | Materials - 1.9%                                                                                                                              |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Commodity Chemicals - 0.8%                                                                                                                    |   |                                                                                       |
|                                                                                                                                                             | 90,554    |   |   | LyondellBasell Industries NV                                                                                                                  | $      | 9,155,009                                                                                  |
|                                                                                                                                                             |      |   |   | Specialty Chemicals - 1.1%                                                                                                                    |   |                                                                                       |
|                                                                                                                                                             | 104,211   |   |   | Ecolab, Inc.                                                                                                                                  | $      | 11,947,791                                                                                 |
|                                                                                                                                                             |      |   |   | Total Materials                                                                                                                               | $      | 21,102,800                                                                                 |
|                                                                                                                                                             |      |   |   | Capital Goods - 6.8%                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Electrical Components & Equipment - 2.1%                                                                                                  |   |                                                                                       |
|                                                                                                                                                             | 321,982   |   |   | Eaton Corp. Plc                                                                                                                               | $      | 23,050,691                                                                                 |
|                                                                                                                                                             |      |   |   | Construction & Farm Machinery & Heavy Trucks - 1.0%                                                                                   |   |                                                                                       |
|                                                                                                                                                             | 81,987    |   |   | Cummins, Inc.                                                                                                                                 | $      | 11,113,338                                                                                 |
|                                                                                                                                                             |      |   |   | Industrial Machinery - 3.7%                                                                                                                   |   |                                                                                       |
|                                                                                                                                                             | 354,354   |   |   | Ingersoll-Rand Plc                                                                                                                            | $      | 24,372,468                                                                                 |
|                                                                                                                                                             | 130,985   |   |   | Parker-Hannifin Corp.                                                                                                                         |   | 15,774,524                                                                                 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 40,146,992                                                                                 |
|                                                                                                                                                             |      |   |   | Total Capital Goods                                                                                                                           | $      | 74,311,021                                                                                 |
|                                                                                                                                                             |      |   |   | Transportation - 3.9%                                                                                                                         |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Airlines - 2.2%                                                                                                                               |   |                                                                                       |
|                                                                                                                                                             | 586,908   |   |   | American Airlines Group, Inc.                                                                                                                 | $      | 24,867,292                                                                                 |
|                                                                                                                                                             |      |   |   | Railroads - 1.7%                                                                                                                              |   |                                                                                       |
|                                                                                                                                                             | 182,354   |   |   | Union Pacific Corp.                                                                                                                           | $      | 18,401,342                                                                                 |
|                                                                                                                                                             |      |   |   | Total Transportation                                                                                                                          | $      | 43,268,634                                                                                 |
|                                                                                                                                                             |      |   |   | Consumer Services - 2.1%                                                                                                                      |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Restaurants - 2.1%                                                                                                                            |   |                                                                                       |
|                                                                                                                                                             | 438,276   |   |   | Starbucks Corp.                                                                                                                               | $      | 22,772,821                                                                                 |
|                                                                                                                                                             |      |   |   | Total Consumer Services                                                                                                                       | $      | 22,772,821                                                                                 |
|                                                                                                                                                             |      |   |   | Media - 8.2%                                                                                                                                  |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Broadcasting - 0.9%                                                                                                                           |   |                                                                                       |
|                                                                                                                                                             | 164,138   |   |   | CBS Corp. (Class B)                                                                                                                           | $      | 10,130,597                                                                                 |
|                                                                                                                                                             |      |   |   | Cable & Satellite - 2.7%                                                                                                                  |   |                                                                                       |
|                                                                                                                                                             | 167,014   |   |   | Time Warner Cable, Inc.                                                                                                                       | $      | 30,211,162                                                                                 |
|                                                                                                                                                             |      |   |   | Movies & Entertainment - 4.6%                                                                                                             |   |                                                                                       |
|                                                                                                                                                             | 279,930   |   |   | The Walt Disney Co.                                                                                                                           | $      | 30,895,874                                                                                 |
|                                                                                                                                                             | 228,500   |   |   | Time Warner, Inc.                                                                                                                             |   | 19,303,680                                                                                 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 50,199,554                                                                                 |
|                                                                                                                                                             |      |   |   | Total Media                                                                                                                                   | $      | 90,541,313                                                                                 |
|                                                                                                                                                             |      |   |   | Retailing - 5.9%                                                                                                                              |   |                                                                                       |
|                                                                                                                                                             |      |   |   | General Merchandise Stores - 1.2%                                                                                                             |   |                                                                                       |
|                                                                                                                                                             | 169,183   |   |   | Target Corp.                                                                                                                                  | $      | 13,419,596                                                                                 |
|                                                                                                                                                             |      |   |   | Home Improvement Retail - 3.7%                                                                                                                |   |                                                                                       |
|                                                                                                                                                             | 362,919   |   |   | The Home Depot, Inc.                                                                                                                          | $      | 40,436,435                                                                                 |
|                                                                                                                                                             |      |   |   | Automotive Retail - 1.0%                                                                                                                      |   |                                                                                       |
|                                                                                                                                                             | 49,785    |   |   | O'Reilly Automotive, Inc. *                                                                                                                   | $      | 10,929,301                                                                                 |
|                                                                                                                                                             |      |   |   | Total Retailing                                                                                                                               | $      | 64,785,332                                                                                 |
|                                                                                                                                                             |      |   |   | Food & Staples Retailing - 4.0%                                                                                                           |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Drug Retail - 2.0%                                                                                                                            |   |                                                                                       |
|                                                                                                                                                             | 210,040   |   |   | CVS Health Corp.                                                                                                                              | $      | 21,503,895                                                                                 |
|                                                                                                                                                             |      |   |   | Food Retail - 2.0%                                                                                                                            |   |                                                                                       |
|                                                                                                                                                             | 259,004   |   |   | Walgreens Boots Alliance, Inc.                                                                                                                | $      | 22,232,903                                                                                 |
|                                                                                                                                                             |      |   |   | Total Food & Staples Retailing                                                                                                            | $      | 43,736,798                                                                                 |
|                                                                                                                                                             |      |   |   | Food, Beverage & Tobacco - 6.0%                                                                                                           |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Brewers - 1.6%                                                                                                                                |   |                                                                                       |
|                                                                                                                                                             | 240,399   |   |   | Molson Coors Brewing Co. (Class B)                                                                                                            | $      | 17,640,479                                                                                 |
|                                                                                                                                                             |      |   |   | Packaged Foods & Meats - 2.6%                                                                                                             |   |                                                                                       |
|                                                                                                                                                             | 238,404   |   |   | Campbell Soup Co.                                                                                                                             | $      | 11,524,449                                                                                 |
|                                                                                                                                                             | 195,431   |   |   | Keurig Green Mountain, Inc.                                                                                                                   |   | 16,853,969                                                                                 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 28,378,418                                                                                 |
|                                                                                                                                                             |      |   |   | Tobacco - 1.8%                                                                                                                                |   |                                                                                       |
|                                                                                                                                                             | 271,862   |   |   | Lorillard, Inc.                                                                                                                               | $      | 19,704,558                                                                                 |
|                                                                                                                                                             |      |   |   | Total Food, Beverage & Tobacco                                                                                                            | $      | 65,723,455                                                                                 |
|                                                                                                                                                             |      |   |   | Household & Personal Products - 2.0%                                                                                                      |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Personal Products - 2.0%                                                                                                                      |   |                                                                                       |
|                                                                                                                                                             | 476,005   |   |   | Coty, Inc.                                                                                                                                    | $      | 11,866,805                                                                                 |
|                                                                                                                                                             | 191,131   |   |   | Nu Skin Enterprises, Inc.                                                                                                                     |   | 9,671,229                                                                                  |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 21,538,034                                                                                 |
|                                                                                                                                                             |      |   |   | Total Household & Personal Products                                                                                                       | $      | 21,538,034                                                                                 |
|                                                                                                                                                             |      |   |   | Health Care Equipment & Services - 8.4%                                                                                                   |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Health Care Equipment - 1.0%                                                                                                                  |   |                                                                                       |
|                                                                                                                                                             | 145,337   |   |   | Medtronic PLC                                                                                                                                 | $      | 11,092,120                                                                                 |
|                                                                                                                                                             |      |   |   | Health Care Distributors - 2.3%                                                                                                               |   |                                                                                       |
|                                                                                                                                                             | 293,650   |   |   | Cardinal Health, Inc.                                                                                                                         | $      | 25,891,120                                                                                 |
|                                                                                                                                                             |      |   |   | Health Care Services - 1.8%                                                                                                                   |   |                                                                                       |
|                                                                                                                                                             | 224,183   |   |   | Express Scripts Holding Co. *                                                                                                                 | $      | 19,535,307                                                                                 |
|                                                                                                                                                             |      |   |   | Managed Health Care - 3.3%                                                                                                                    |   |                                                                                       |
|                                                                                                                                                             | 222,169   |   |   | Aetna, Inc.                                                                                                                                   | $      | 26,209,277                                                                                 |
|                                                                                                                                                             | 44,763    |   |   | Humana, Inc.                                                                                                                                  |   | 9,608,378                                                                                  |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 35,817,655                                                                                 |
|                                                                                                                                                             |      |   |   | Total Health Care Equipment & Services                                                                                                    | $      | 92,336,202                                                                                 |
|                                                                                                                                                             |      |   |   | Pharmaceuticals, Biotechnology & Life Sciences - 9.7%                                                                                     |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Biotechnology - 6.5%                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             | 295,532   |   |   | Celgene Corp. *                                                                                                                               | $      | 33,820,682                                                                                 |
|                                                                                                                                                             | 333,716   |   |   | Gilead Sciences, Inc. *                                                                                                                       |   | 37,466,295                                                                                 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 71,286,977                                                                                 |
|                                                                                                                                                             |      |   |   | Pharmaceuticals - 3.2%                                                                                                                        |   |                                                                                       |
|                                                                                                                                                             | 235,549   |   |   | AbbVie, Inc.                                                                                                                                  | $      | 15,685,208                                                                                 |
|                                                                                                                                                             | 202,037   |   |   | Johnson & Johnson                                                                                                                         |   | 20,231,985                                                                                 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 35,917,193                                                                                 |
|                                                                                                                                                             |      |   |   | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                      | $      | 107,204,170                                                                                |
|                                                                                                                                                             |      |   |   | Diversified Financials - 4.5%                                                                                                                 |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Specialized Finance - 1.5%                                                                                                                    |   |                                                                                       |
|                                                                                                                                                             | 70,577    |   |   | Intercontinental Exchange, Inc.                                                                                                               | $      | 16,711,222                                                                                 |
|                                                                                                                                                             |      |   |   | Consumer Finance - 1.5%                                                                                                                       |   |                                                                                       |
|                                                                                                                                                             | 271,250   |   |   | Discover Financial Services, Inc.                                                                                                             | $      | 15,805,738                                                                                 |
|                                                                                                                                                             |      |   |   | Investment Banking & Brokerage - 1.5%                                                                                                     |   |                                                                                       |
|                                                                                                                                                             | 436,029   |   |   | Morgan Stanley Co.                                                                                                                            | $      | 16,656,308                                                                                 |
|                                                                                                                                                             |      |   |   | Total Diversified Financials                                                                                                                  | $      | 49,173,268                                                                                 |
|                                                                                                                                                             |      |   |   | Software & Services - 17.3%                                                                                                               |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Internet Software & Services - 9.9%                                                                                                       |   |                                                                                       |
|                                                                                                                                                             | 261,302   |   |   | eBay, Inc. *                                                                                                                                  | $      | 16,033,491                                                                                 |
|                                                                                                                                                             | 327,909   |   |   | Facebook, Inc. *                                                                                                                              |   | 25,967,114                                                                                 |
|                                                                                                                                                             | 47,834    |   |   | Google, Inc. (Class A) *                                                                                                                      |   | 26,084,837                                                                                 |
|                                                                                                                                                             | 47,965    |   |   | Google, Inc. (Class C)                                                                                                                        |   | 25,522,656                                                                                 |
|                                                                                                                                                             | 360,098   |   |   | Yahoo!, Inc. *                                                                                                                                |   | 15,460,808                                                                                 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 109,068,906                                                                                |
|                                                                                                                                                             |      |   |   | Data Processing & Outsourced Services - 2.8%                                                                                              |   |                                                                                       |
|                                                                                                                                                             | 442,632   |   |   | Visa, Inc.                                                                                                                                    | $      | 30,399,966                                                                                 |
|                                                                                                                                                             |      |   |   | Systems Software - 4.6%                                                                                                                       |   |                                                                                       |
|                                                                                                                                                             | 1,094,088 |   |   | Microsoft Corp.                                                                                                                               | $      | 51,268,964                                                                                 |
|                                                                                                                                                             |      |   |   | Total Software & Services                                                                                                                 | $      | 190,737,836                                                                                |
|                                                                                                                                                             |      |   |   | Technology Hardware & Equipment - 9.0%                                                                                                    |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Communications Equipment - 1.3%                                                                                                               |   |                                                                                       |
|                                                                                                                                                             | 114,000   |   |   | F5 Networks, Inc. *                                                                                                                           | $      | 14,328,660                                                                                 |
|                                                                                                                                                             |      |   |   | Computer Storage & Peripherals - 7.7%                                                                                                     |   |                                                                                       |
|                                                                                                                                                             | 490,349   |   |   | Apple, Inc.                                                                                                                                   | $      | 63,882,667                                                                                 |
|                                                                                                                                                             | 807,946   |   |   | EMC Corp.                                                                                                                                     |   | 21,281,298                                                                                 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 85,163,965                                                                                 |
|                                                                                                                                                             |      |   |   | Total Technology Hardware & Equipment                                                                                                     | $      | 99,492,625                                                                                 |
|                                                                                                                                                             |      |   |   | Semiconductors & Semiconductor Equipment - 3.1%                                                                                           |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Semiconductors - 3.1%                                                                                                                         |   |                                                                                       |
|                                                                                                                                                             | 195,888   |   |   | Analog Devices, Inc.                                                                                                                          | $      | 13,312,548                                                                                 |
|                                                                                                                                                             | 371,639   |   |   | Broadcom Corp.                                                                                                                                |   | 21,127,677                                                                                 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          | $      | 34,440,225                                                                                 |
|                                                                                                                                                             |      |   |   | Total Semiconductors & Semiconductor Equipment                                                                                            | $      | 34,440,225                                                                                 |
|                                                                                                                                                             |      |   |   | Telecommunication Services - 2.8%                                                                                                             |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Integrated Telecommunication Services - 2.8%                                                                                                  |   |                                                                                       |
|                                                                                                                                                             | 623,684   |   |   | Verizon Communications, Inc.                                                                                                                  | $      | 30,834,937                                                                                 |
|                                                                                                                                                             |      |   |   | Total Telecommunication Services                                                                                                              | $      | 30,834,937                                                                                 |
|                                                                                                                                                             |      |   |   | TOTAL COMMON STOCKS                                                                                                                           |   |                                                                                       |
|                                                                                                                                                             |      |   |   | (Cost $798,459,257)                                                                                                                           | $      | 1,088,360,254                                                                              |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             |      |   |   | TOTAL INVESTMENT IN SECURITIES - 98.9%                                                                                                        |   |                                                                                       |
|                                                                                                                                                             |      |   |   | (Cost $798,459,257) (a)                                                                                                                       | $      | 1,088,360,254                                                                              |
|                                                                                                                                                             |      |   |   | OTHER ASSETS & LIABILITIES - 1.1%                                                                                                         | $      | 11,829,930                                                                                 |
|                                                                                                                                                             |      |   |   | TOTAL NET ASSETS - 100.0%                                                                                                                     | $      | 1,100,190,184                                                                              |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             | *         |   |   | Non-income producing security.                                                                                                                |   |                                                                                       |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             | (a)       |   |   | At May 31, 2015, the net unrealized appreciation on investments based on cost for federal income tax purposes of $799,830,442 was as follows: |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Aggregate gross unrealized appreciation for all investments in which                                                                          |   |                                                                                       |
|                                                                                                                                                             |      |   |   | there is an excess of value over tax cost                                                                                                     |   |  $            296,245,268 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Aggregate gross unrealized depreciation for all investments in which                                                                          |   |                                                                                       |
|                                                                                                                                                             |      |   |   | there is an excess of tax cost over value                                                                                                     |   | (7,715,456)                                                                                |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             |      |   |   | Net unrealized appreciation                                                                                                                   |   |  $            288,529,812 |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
| 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)                            |      |   |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
| Generally, equity securities are categorized as Level 1, fixed income securities and senior loans as Level 2 and securities valued                               |
| using fair value methods (other than prices supplied by independent pricing services or broker-dealers) as Level 3.                                              |      |   |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |
| The following is a summary of the inputs used as of May 31, 2015, in valuing the Fund’s assets:                                                            |      |   |
|                                                                                                                                                             |      |   |   |                                                                                                                                          |   |                                                                                       |

|                                                                                     |   | Level 1 |          |   | Level 2 |   |   | Level 3 |   |   | Total  |   |
|------------------------------------------------------------------------------------------|--------|---------|---------------|--------|---------|--------|--------|---------|--------|--------|--------|--------|
| Common Stocks                                                                            |   | $       | 1,088,360,254 |   |    | $      | -      |    |   | $      | -      |   |   | $ | 1,088,360,254 |   |
| Total                                                                                    |   | $       | 1,088,360,254 |   |    | $      | -      |    |   | $      | -      |   |   | $ | 1,088,360,254 |   |
|                                                                                     |   |    |          |   |    |   |   |    |   |   |   |   |   |   |   |   |
| During the period ended May 31, 2015, there were no transfers between Levels 1, 2 and 3. |   |    |          |   |    |   |   |    |   |   |   |   |   |   |   |   |