Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (n-q)

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                                 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 811-01835


                      Pioneer Value Fund
               (Exact name of registrant as specified in charter)


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


            Dorothy E. Bourassa, 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:  September 30

Date of reporting period:  January 31, 2013

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.

		Pioneer Value Fund
		Schedule of Investments 12/31/12

	Shares			Value
		COMMON STOCKS - 99.9%
		Energy - 15.5%
		Oil & Gas Equipment & Services - 4.0%
	678,300	Halliburton Co.	$	23,530,227
	408,300	Schlumberger, Ltd.		28,291,107
			$	51,821,334
		Integrated Oil & Gas - 7.4%
	550,200	Chevron Corp.	$	59,498,628
	476,600	Occidental Petroleum Corp.		36,512,326
			$	96,010,954
		Oil & Gas Exploration & Production - 4.1%
	1,743,700	Marathon Oil Corp.	$	53,461,842
		Total Energy	$	201,294,130
		Materials - 2.1%
		Diversified Metals & Mining - 2.1%
	797,400	Freeport-McMoRan Copper & Gold, Inc.	$	27,271,080
		Total Materials	$	27,271,080
		Capital Goods - 7.9%
		Aerospace & Defense - 4.5%
	477,400	Honeywell International, Inc.	$	30,300,578
	342,700	United Technologies Corp.		28,104,827
			$	58,405,405
		Industrial Conglomerates - 3.4%
	2,120,800	General Electric Co.	$	44,515,592
		Total Capital Goods	$	102,920,997
		Transportation - 1.0%
		Railroads - 1.0%
	672,500	CSX Corp.	$	13,268,425
		Total Transportation	$	13,268,425
		Media - 6.9%
		Cable & Satellite - 2.1%
	714,800	Comcast Corp.	$	26,719,224
		Movies & Entertainment - 4.8%
	1,193,200	News Corp.	$	30,474,328
	649,800	The Walt Disney Co.		32,353,542
			$	62,827,870
		Total Media	$	89,547,094
		Retailing - 1.5%
		Department Stores - 1.5%
	504,800	Macy's, Inc.	$	19,697,296
		Total Retailing	$	19,697,296
		Food & Staples Retailing - 3.4%
		Drug Retail - 1.3%
	352,700	CVS Caremark Corp.	$	17,053,045
		Hypermarkets & Super Centers - 2.1%
	401,900	Wal-Mart Stores, Inc.	$	27,421,637
		Total Food & Staples Retailing	$	44,474,682
		Food, Beverage & Tobacco - 4.3%
		Soft Drinks - 1.1%
	432,800	Coca-Cola Enterprises, Inc.	$	13,732,744
		Tobacco - 3.2%
	659,200	Altria Group, Inc.	$	20,712,064
	248,800	Philip Morris International, Inc.		20,809,632
			$	41,521,696
		Total Food, Beverage & Tobacco	$	55,254,440
		Health Care Equipment & Services - 5.2%
		Health Care Equipment - 2.4%
	535,700	Covidien Plc	$	30,931,318
		Managed Health Care - 2.8%
	679,700	UnitedHealth Group, Inc.	$	36,866,928
		Total Health Care Equipment & Services	$	67,798,246
		Pharmaceuticals, Biotechnology & Life Sciences - 15.0%
		Biotechnology - 2.5%
	368,400	Amgen, Inc.	$	31,800,288
		Pharmaceuticals - 12.5%
	673,600	Johnson & Johnson	$	47,219,360
	1,181,200	Merck & Co., Inc.		48,358,328
	2,679,500	Pfizer, Inc.		67,201,860
			$	162,779,548
		Total Pharmaceuticals, Biotechnology & Life Sciences	$	194,579,836
		Banks - 6.8%
		Diversified Banks - 3.1%
	1,181,700	Wells Fargo & Co.	$	40,390,506
		Regional Banks - 3.7%
	457,500	BB&T Corp.	$	13,317,825
	581,800	PNC Financial Services Group, Inc.		33,924,758
			$	47,242,583
		Total Banks	$	87,633,089
		Diversified Financials - 11.8%
		Other Diversified Financial Services - 5.2%
	1,081,800	Citigroup, Inc.	$	42,796,008
	560,300	JPMorgan Chase & Co.		24,636,391
			$	67,432,399
		Consumer Finance - 5.2%
	703,000	Capital One Financial Corp.	$	40,724,790
	688,000	Discover Financial Services		26,522,400
			$	67,247,190
		Investment Banking & Brokerage - 1.4%
	139,700	The Goldman Sachs Group, Inc.	$	17,820,132
		Total Diversified Financials	$	152,499,721
		Insurance - 6.7%
		Property & Casualty Insurance - 6.7%
	361,900	ACE, Ltd.	$	28,879,620
	340,800	The Chubb Corp.		25,669,056
	448,000	The Travelers Companies, Inc.		32,175,360
			$	86,724,036
		Total Insurance	$	86,724,036
		Software & Services - 4.9%
		Systems Software - 4.9%
	1,459,600	Microsoft Corp.	$	39,015,108
	714,500	Oracle Corp.		23,807,140
			$	62,822,248
		Total Software & Services	$	62,822,248
		Technology Hardware & Equipment - 2.0%
		Communications Equipment - 2.0%
	1,337,600	Cisco Systems, Inc.	$	26,283,840
		Total Technology Hardware & Equipment	$	26,283,840
		Semiconductors & Semiconductor Equipment - 1.6%
		Semiconductors - 1.6%
	1,005,900	Intel Corp.	$	20,751,717
		Total Semiconductors & Semiconductor Equipment	$	20,751,717
		Telecommunication Services - 3.3%
		Integrated Telecommunication Services - 2.0%
	389,800	AT&T, Inc.	$	13,140,158
	297,400	Verizon Communications, Inc.		12,868,498
			$	26,008,656
		Wireless Telecommunication Services - 1.3%
	642,500	Vodafone Group Plc (A.D.R.)	$	16,184,575
		Total Telecommunication Services	$	42,193,231
		TOTAL COMMON STOCKS
		(Cost $1,125,705,469)	$	1,295,014,108

		TOTAL INVESTMENT IN SECURITIES - 99.9%	$	1,295,014,108
		(Cost $1,125,705,468) (a)
		OTHER ASSETS & LIABILITIES - 0.1%	$	1,856,819
		TOTAL NET ASSETS - 100.0%	$	1,296,870,927



	(A.D.R.)	American Depositary Receipts.

	*	Non-income producing security.

	(a)	At December 31, 2012, the net unrealized gain on investments based on
		cost for federal income tax purposes of $1,127,333,759 was as follows:

		Aggregate gross unrealized gain for all investments in which
		there is an excess of value over tax cost	$	178,583,571

		Aggregate gross unrealized loss for all investments in which
		there is an excess of tax cost over value		(10,903,222)

		Net unrealized gain	$	167,680,349


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) are categorized as Level 3.
See Notes to Financial Statements - Note 1A.
The following is a summary of the inputs used as of December 31, 2012, in valuing the Fund's assets:

	Level 1		Level 2		Level 3		Total
Common Stocks	$	1,295,014,108	$	-	$	-	$	1,295,014,108
Total	$	1,295,014,108	$	-	$	-	$	1,295,014,108

ITEM 2. CONTROLS AND PROCEDURES. (a) Disclose the conclusions of the registrant's principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)). The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report. (b) Disclose any change in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. There were no significant changes in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. (a) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)). Filed herewith. <PAGE> SIGNATURES [See General Instruction F] Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Pioneer Value Fund By (Signature and Title)* /s/ John F. Cogan, Jr. John F. Cogan, Jr, President Date March 1, 2013 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title)* /s/ John F. Cogan, Jr. John F. Cogan, Jr., President Date March 1, 2013 By (Signature and Title)* /s/ Mark Bradley Mark Bradley, Treasurer Date March 1, 2013 * Print the name and title of each signing officer under his or her signature.

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