[SCHEDULE 13G] Pioneer High Income Fund, Inc. SEC Filing

Rhea-AI Filing Summary

Almitas Capital LLC and Ronald Mass reported beneficial ownership of 1,604,088 shares, representing 5.5% of Pioneer High Income Fund, Inc. (PHT). The filing is a Schedule 13G dated for the reporting event of 06/30/2025 and signed on 08/15/2025. Ownership is shown as shared voting and shared dispositive power of 1,604,088 shares and no sole voting or dispositive power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Insights

Securities Analyst

TL;DR: Passive >5% stake disclosed; routine Schedule 13G indicates non-control intent.

The Schedule 13G discloses that Almitas Capital LLC, together with Ronald Mass, holds 1,604,088 shares (5.5%) of Pioneer High Income Fund. The position is reported with shared voting and dispositive power and explicitly stated to be held in the ordinary course of business rather than to influence control. For investors, this is a material ownership disclosure because it crosses the 5% threshold, but the filing classifies the stake as passive under Rule 13d-1(b)/(c), reducing immediate governance or control implications. Monitor future amendments or Schedule 13D filings for any change in intent or increases in ownership.

Corporate Governance Specialist

TL;DR: Disclosure signals a significant passive investor; no evidence of activist intent.

The reporting describes shared voting power rather than sole control and includes the certification that shares are not held to change control. This suggests compliance with Rule 13d-1 criteria for non-control disclosure. From a governance perspective, the filing does not indicate board nominations, proxy contest activity, or coordinated group action. The materiality stems from crossing the 5% ownership mark, which requires transparency but does not itself imply governance engagement.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

PIONEER HIGH INCOME FUND, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

72369H106

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 72369H106

1

Names of Reporting Persons

Almitas Capital LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,604,088.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,604,088.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,604,088.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 72369H106

1

Names of Reporting Persons

Ronald Mass

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,604,088.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,604,088.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,604,088.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PIONEER HIGH INCOME FUND, INC.
(b)	Address of issuer's principal executive offices: 60 STATE ST., 5TH FL., BOSTON, MASSACHUSETTS, 02109
Item 2.
(a)	Name of person filing: Almitas Capital LLC Ronald Mass Each a "Filer"
(b)	Address or principal business office or, if none, residence: 1460 4th Street, Suite 300 Santa Monica, CA 90401
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 72369H106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 of the cover page for each Filer.
(b)	Percent of class: See Item 11 of the cover page for each Filer.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of the cover page for each Filer.
	(ii) Shared power to vote or to direct the vote: See Item 6 of the cover page for each Filer.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of the cover page for each Filer.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of the cover page for each Filer.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Almitas Capital LLC

Signature:	Michael Gomez
Name/Title:	Chief Financial Officer
Date:	08/15/2025

Ronald Mass

Signature:	Ronald Mass
Name/Title:	Managing Member, Chief Compliance Officer
Date:	08/15/2025