Schedule of investments
Delaware High-Yield Opportunities Fund | October 31, 2021 (Unaudited) |
Principal amount° | Value (US $) | ||
Corporate Bonds — 87.20% | |||
Automotive — 2.34% | |||
Allison Transmission 144A 5.875% 6/1/29 # | 2,757,000 | $ 2,970,667 | |
Ford Motor | |||
8.50% 4/21/23 | 2,215,000 | 2,431,516 | |
9.00% 4/22/25 | 735,000 | 884,756 | |
Ford Motor Credit | |||
3.375% 11/13/25 | 1,405,000 | 1,445,394 | |
4.125% 8/17/27 | 710,000 | 754,375 | |
4.542% 8/1/26 | 1,960,000 | 2,112,939 | |
5.584% 3/18/24 | 1,810,000 | 1,952,538 | |
General Motors Financial 5.70% 9/30/30 μ, ψ | 1,160,000 | 1,341,250 | |
13,893,435 | |||
Banking — 1.42% | |||
Barclays 6.125% 12/15/25 μ, ψ | 3,255,000 | 3,579,491 | |
Deutsche Bank 6.00% 10/30/25 μ, ψ | 4,600,000 | 4,830,000 | |
8,409,491 | |||
Basic Industry — 8.37% | |||
Allegheny Technologies | |||
4.875% 10/1/29 | 625,000 | 625,344 | |
5.125% 10/1/31 | 1,790,000 | 1,785,525 | |
Artera Services 144A 9.033% 12/4/25 # | 5,880,000 | 6,285,691 | |
Chemours 144A 5.75% 11/15/28 # | 3,225,000 | 3,317,719 | |
Eldorado Gold 144A 6.25% 9/1/29 # | 2,905,000 | 2,953,078 | |
First Quantum Minerals | |||
144A 6.875% 10/15/27 # | 2,095,000 | 2,239,031 | |
144A 7.25% 4/1/23 # | 2,885,000 | 2,941,113 | |
144A 7.50% 4/1/25 # | 3,120,000 | 3,233,100 | |
Freeport-McMoRan 5.45% 3/15/43 | 3,107,000 | 3,912,490 | |
Hudbay Minerals 144A 6.125% 4/1/29 # | 1,450,000 | 1,527,937 | |
INEOS Quattro Finance 2 144A 3.375% 1/15/26 # | 3,400,000 | 3,383,119 | |
M/I Homes 4.95% 2/1/28 | 3,134,000 | 3,263,277 | |
New Gold 144A 7.50% 7/15/27 # | 3,040,000 | 3,287,000 | |
NOVA Chemicals 144A 4.25% 5/15/29 # | 3,190,000 | 3,152,517 | |
Novelis | |||
144A 3.875% 8/15/31 # | 605,000 | 591,418 | |
144A 4.75% 1/30/30 # | 850,000 | 885,063 | |
Pearl Merger Sub 144A 6.75% 10/1/28 # | 1,655,000 | 1,645,765 | |
Vedanta Resources Finance II 144A 8.95% 3/11/25 # | 1,580,000 | 1,606,086 | |
WR Grace Holdings 144A 5.625% 8/15/29 # | 2,905,000 | 2,937,681 | |
49,572,954 |
NQ-137 [10/21] 12/21 (1946871) 1
Schedule of investments
Delaware High-Yield Opportunities Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Capital Goods — 4.27% | |||
ARD Finance 144A PIK 6.50% 6/30/27 #, > | 3,130,000 | $ 3,282,588 | |
Bombardier 144A 6.00% 2/15/28 # | 2,035,000 | 2,055,350 | |
Granite US Holdings 144A 11.00% 10/1/27 # | 1,680,000 | 1,842,296 | |
Intertape Polymer Group 144A 4.375% 6/15/29 # | 3,380,000 | 3,392,979 | |
Madison IAQ 144A 5.875% 6/30/29 # | 2,940,000 | 2,921,625 | |
OT Merger 144A 7.875% 10/15/29 # | 1,090,000 | 1,075,143 | |
Spirit AeroSystems 144A 5.50% 1/15/25 # | 1,560,000 | 1,626,300 | |
Terex 144A 5.00% 5/15/29 # | 3,760,000 | 3,839,900 | |
TK Elevator Holdco 144A 7.625% 7/15/28 # | 1,434,000 | 1,521,833 | |
TransDigm 144A 6.25% 3/15/26 # | 3,560,000 | 3,720,200 | |
25,278,214 | |||
Communications — 6.67% | |||
Altice France 144A 5.50% 10/15/29 # | 4,400,000 | 4,318,468 | |
Altice France Holding 144A 6.00% 2/15/28 # | 4,835,000 | 4,601,349 | |
Connect Finco 144A 6.75% 10/1/26 # | 4,545,000 | 4,721,119 | |
Consolidated Communications | |||
144A 5.00% 10/1/28 # | 1,475,000 | 1,491,601 | |
144A 6.50% 10/1/28 # | 1,475,000 | 1,572,557 | |
Frontier Communications Holdings 144A 5.875% 10/15/27 # | 1,780,000 | 1,866,775 | |
LCPR Senior Secured Financing DAC 144A 6.75% 10/15/27 # | 2,155,000 | 2,265,444 | |
Level 3 Financing 144A 4.25% 7/1/28 # | 3,595,000 | 3,558,924 | |
Sable International Finance 144A 5.75% 9/7/27 # | 1,983,000 | 2,067,277 | |
Sprint | |||
7.125% 6/15/24 | 715,000 | 808,844 | |
7.625% 3/1/26 | 1,915,000 | 2,298,287 | |
T-Mobile USA | |||
3.375% 4/15/29 | 1,725,000 | 1,774,594 | |
3.50% 4/15/31 | 980,000 | 1,015,530 | |
Vmed O2 UK Financing I 144A 4.75% 7/15/31 # | 3,190,000 | 3,209,937 | |
Zayo Group Holdings 144A 6.125% 3/1/28 # | 4,010,000 | 3,919,775 | |
39,490,481 | |||
Consumer Cyclical — 10.04% | |||
Bath & Body Works | |||
6.875% 11/1/35 | 2,105,000 | 2,560,143 | |
6.95% 3/1/33 | 2,222,000 | 2,515,037 | |
144A 9.375% 7/1/25 # | 771,000 | 957,004 | |
Bloomin' Brands 144A 5.125% 4/15/29 # | 3,265,000 | 3,231,370 | |
Boyd Gaming 4.75% 12/1/27 | 3,470,000 | 3,579,478 |
2 NQ-137 [10/21] 12/21 (1946871)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Consumer Cyclical (continued) | |||
Caesars Entertainment | |||
144A 6.25% 7/1/25 # | 1,950,000 | $ 2,053,545 | |
144A 8.125% 7/1/27 # | 1,650,000 | 1,850,145 | |
Carnival | |||
144A 4.00% 8/1/28 # | 2,190,000 | 2,192,738 | |
144A 5.75% 3/1/27 # | 7,475,000 | 7,615,156 | |
144A 6.00% 5/1/29 # | 940,000 | 941,175 | |
144A 7.625% 3/1/26 # | 2,290,000 | 2,415,584 | |
Foot Locker 144A 4.00% 10/1/29 # | 1,655,000 | 1,642,869 | |
Levi Strauss & Co. 144A 3.50% 3/1/31 # | 3,044,000 | 3,063,025 | |
MGM Resorts International 4.75% 10/15/28 | 3,235,000 | 3,366,693 | |
Murphy Oil USA 144A 3.75% 2/15/31 # | 3,000,000 | 2,955,000 | |
PetSmart 144A 7.75% 2/15/29 # | 3,810,000 | 4,122,306 | |
Royal Caribbean Cruises 144A 5.50% 4/1/28 # | 7,505,000 | 7,645,719 | |
Scientific Games International | |||
144A 7.25% 11/15/29 # | 1,655,000 | 1,872,351 | |
144A 8.25% 3/15/26 # | 2,753,000 | 2,921,621 | |
Six Flags Entertainment 144A 4.875% 7/31/24 # | 1,980,000 | 1,997,325 | |
59,498,284 | |||
Consumer Non-Cyclical — 1.45% | |||
Energizer Holdings 144A 4.375% 3/31/29 # | 815,000 | 781,993 | |
JBS USA LUX | |||
144A 5.50% 1/15/30 # | 3,070,000 | 3,365,487 | |
144A 6.50% 4/15/29 # | 980,000 | 1,085,350 | |
Kraft Heinz Foods 5.20% 7/15/45 | 2,640,000 | 3,362,799 | |
8,595,629 | |||
Energy — 13.95% | |||
Ascent Resources Utica Holdings | |||
144A 5.875% 6/30/29 # | 3,170,000 | 3,212,890 | |
144A 7.00% 11/1/26 # | 1,490,000 | 1,540,288 | |
Callon Petroleum 6.125% 10/1/24 | 2,135,000 | 2,109,626 | |
CNX Midstream Partners 144A 4.75% 4/15/30 # | 1,515,000 | 1,518,788 | |
CNX Resources | |||
144A 6.00% 1/15/29 # | 3,430,000 | 3,622,937 | |
144A 7.25% 3/14/27 # | 1,530,000 | 1,628,685 | |
Crestwood Midstream Partners | |||
144A 5.625% 5/1/27 # | 482,000 | 494,096 | |
144A 6.00% 2/1/29 # | 3,468,000 | 3,598,622 | |
DCP Midstream Operating 5.125% 5/15/29 | 4,270,000 | 4,841,198 |
NQ-137 [10/21] 12/21 (1946871) 3
Schedule of investments
Delaware High-Yield Opportunities Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Energy (continued) | |||
EQM Midstream Partners | |||
144A 4.75% 1/15/31 # | 2,085,000 | $ 2,161,311 | |
144A 6.50% 7/1/27 # | 1,215,000 | 1,353,279 | |
Genesis Energy | |||
7.75% 2/1/28 | 3,170,000 | 3,136,699 | |
8.00% 1/15/27 | 5,005,000 | 5,036,381 | |
Murphy Oil 6.375% 7/15/28 | 5,075,000 | 5,367,320 | |
NuStar Logistics | |||
6.00% 6/1/26 | 2,430,000 | 2,585,338 | |
6.375% 10/1/30 | 3,568,000 | 3,915,363 | |
Occidental Petroleum | |||
3.50% 8/15/29 | 3,265,000 | 3,318,056 | |
6.125% 1/1/31 | 2,870,000 | 3,440,412 | |
6.45% 9/15/36 | 1,525,000 | 1,942,774 | |
6.60% 3/15/46 | 1,210,000 | 1,549,895 | |
6.625% 9/1/30 | 2,150,000 | 2,633,535 | |
PDC Energy 5.75% 5/15/26 | 3,794,000 | 3,907,820 | |
Southwestern Energy | |||
5.375% 3/15/30 | 1,745,000 | 1,843,121 | |
7.75% 10/1/27 | 2,876,000 | 3,091,700 | |
Targa Resources Partners | |||
144A 4.00% 1/15/32 # | 3,010,000 | 3,109,992 | |
4.875% 2/1/31 | 665,000 | 717,854 | |
6.50% 7/15/27 | 2,145,000 | 2,300,512 | |
TechnipFMC 144A 6.50% 2/1/26 # | 5,960,000 | 6,357,788 | |
Western Midstream Operating 4.75% 8/15/28 | 2,075,000 | 2,285,509 | |
82,621,789 | |||
Financial Services — 6.32% | |||
AerCap Holdings 5.875% 10/10/79 μ | 4,075,000 | 4,257,315 | |
Air Lease 4.65% 6/15/26 μ, ψ | 2,995,000 | 3,103,569 | |
Ally Financial | |||
4.70% 5/15/26 μ, ψ | 3,070,000 | 3,190,881 | |
8.00% 11/1/31 | 2,160,000 | 3,094,998 | |
Camelot Finance 144A 4.50% 11/1/26 # | 3,075,000 | 3,198,000 | |
Castlelake Aviation Finance DAC 144A 5.00% 4/15/27 # | 4,565,000 | 4,557,879 | |
Credit Suisse Group 144A 4.50% 9/3/30 #, μ, ψ | 3,110,000 | 3,031,317 | |
Hightower Holding 144A 6.75% 4/15/29 # | 1,930,000 | 1,972,547 | |
Midcap Financial Issuer Trust | |||
144A 5.625% 1/15/30 # | 1,055,000 | 1,039,175 | |
144A 6.50% 5/1/28 # | 3,345,000 | 3,474,619 | |
4 NQ-137 [10/21] 12/21 (1946871)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Financial Services (continued) | |||
Mozart Debt Merger Sub 144A 3.875% 4/1/29 # | 2,485,000 | $ 2,475,681 | |
UBS Group 144A 4.375% 2/10/31 #, μ, ψ | 4,055,000 | 4,037,766 | |
37,433,747 | |||
Healthcare — 7.72% | |||
Avantor Funding 144A 3.875% 11/1/29 # | 8,005,000 | 8,012,445 | |
Bausch Health 144A 6.25% 2/15/29 # | 4,775,000 | 4,633,111 | |
Cheplapharm Arzneimittel 144A 5.50% 1/15/28 # | 3,185,000 | 3,286,522 | |
CHS | |||
144A 4.75% 2/15/31 # | 3,000,000 | 3,003,930 | |
144A 8.00% 3/15/26 # | 1,715,000 | 1,811,469 | |
DaVita 144A 4.625% 6/1/30 # | 2,710,000 | 2,726,937 | |
Encompass Health 4.75% 2/1/30 | 754,000 | 773,826 | |
Global Medical Response 144A 6.50% 10/1/25 # | 775,000 | 769,862 | |
Hadrian Merger Sub 144A 8.50% 5/1/26 # | 3,443,000 | 3,567,809 | |
HCA | |||
3.50% 9/1/30 | 105,000 | 110,547 | |
5.875% 2/1/29 | 1,708,000 | 2,035,014 | |
7.58% 9/15/25 | 820,000 | 989,957 | |
ModivCare Escrow Issuer 144A 5.00% 10/1/29 # | 1,165,000 | 1,186,459 | |
Organon & Co. 144A 5.125% 4/30/31 # | 1,590,000 | 1,641,961 | |
Ortho-Clinical Diagnostics | |||
144A 7.25% 2/1/28 # | 1,551,000 | 1,653,754 | |
144A 7.375% 6/1/25 # | 1,968,000 | 2,068,466 | |
Surgery Center Holdings 144A 10.00% 4/15/27 # | 1,630,000 | 1,751,859 | |
Tenet Healthcare | |||
144A 6.125% 10/1/28 # | 1,920,000 | 2,018,304 | |
6.75% 6/15/23 | 1,750,000 | 1,883,437 | |
6.875% 11/15/31 | 1,586,000 | 1,817,953 | |
45,743,622 | |||
Insurance — 2.55% | |||
AmWINS Group 144A 4.875% 6/30/29 # | 3,950,000 | 3,942,613 | |
GTCR AP Finance 144A 8.00% 5/15/27 # | 1,072,000 | 1,129,620 | |
HUB International 144A 7.00% 5/1/26 # | 2,274,000 | 2,347,905 | |
Roller Bearing Co. of America 144A 4.375% 10/15/29 # | 4,680,000 | 4,773,600 | |
USI 144A 6.875% 5/1/25 # | 2,879,000 | 2,925,784 | |
15,119,522 | |||
Media — 8.80% | |||
AMC Networks 4.25% 2/15/29 | 2,675,000 | 2,638,219 | |
Beasley Mezzanine Holdings 144A 8.625% 2/1/26 # | 3,195,000 | 3,218,771 |
NQ-137 [10/21] 12/21 (1946871) 5
Schedule of investments
Delaware High-Yield Opportunities Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Media (continued) | |||
CCO Holdings | |||
144A 4.50% 8/15/30 # | 6,390,000 | $ 6,512,241 | |
4.50% 5/1/32 | 530,000 | 533,183 | |
144A 5.375% 6/1/29 # | 2,520,000 | 2,710,890 | |
Clear Channel Outdoor Holdings | |||
144A 7.50% 6/1/29 # | 1,885,000 | 1,930,956 | |
144A 7.75% 4/15/28 # | 1,720,000 | 1,783,554 | |
CSC Holdings | |||
144A 4.625% 12/1/30 # | 5,760,000 | 5,285,002 | |
144A 5.00% 11/15/31 # | 2,870,000 | 2,668,813 | |
144A 5.75% 1/15/30 # | 1,200,000 | 1,185,540 | |
Cumulus Media New Holdings 144A 6.75% 7/1/26 # | 3,370,000 | 3,509,012 | |
Gray Escrow II 144A 5.375% 11/15/31 # | 3,850,000 | 3,893,312 | |
Nexstar Media 144A 4.75% 11/1/28 # | 2,315,000 | 2,368,013 | |
Nielsen Finance | |||
144A 4.50% 7/15/29 # | 800,000 | 783,200 | |
144A 4.75% 7/15/31 # | 2,655,000 | 2,590,882 | |
Sirius XM Radio 144A 4.00% 7/15/28 # | 5,780,000 | 5,828,841 | |
Terrier Media Buyer 144A 8.875% 12/15/27 # | 4,455,000 | 4,718,201 | |
52,158,630 | |||
Real Estate — 1.45% | |||
Iron Mountain | |||
144A 5.25% 3/15/28 # | 2,050,000 | 2,139,687 | |
144A 5.25% 7/15/30 # | 1,760,000 | 1,840,089 | |
MGM Growth Properties Operating Partnership 144A 3.875% 2/15/29 # | 2,615,000 | 2,772,606 | |
XHR 144A 4.875% 6/1/29 # | 1,765,000 | 1,813,008 | |
8,565,390 | |||
Services — 5.41% | |||
ADT Security 144A 4.125% 8/1/29 # | 3,045,000 | 3,005,050 | |
Clarivate Science Holdings 144A 4.875% 7/1/29 # | 4,090,000 | 4,077,525 | |
Gartner 144A 4.50% 7/1/28 # | 2,620,000 | 2,731,219 | |
Legends Hospitality Holding 144A 5.00% 2/1/26 # | 1,460,000 | 1,483,725 | |
LSF11 A5 HoldCo 144A 6.625% 10/15/29 # | 1,495,000 | 1,498,304 | |
Prime Security Services Borrower | |||
144A 5.75% 4/15/26 # | 1,715,000 | 1,836,593 | |
144A 6.25% 1/15/28 # | 4,455,000 | 4,571,944 | |
Rent-A-Center 144A 6.375% 2/15/29 # | 3,000,000 | 3,138,750 | |
Sotheby's 144A 5.875% 6/1/29 # | 2,935,000 | 3,004,706 |
6 NQ-137 [10/21] 12/21 (1946871)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Services (continued) | |||
United Rentals North America | |||
3.875% 2/15/31 | 1,015,000 | $ 1,023,780 | |
5.25% 1/15/30 | 1,885,000 | 2,042,869 | |
White Cap Buyer 144A 6.875% 10/15/28 # | 3,500,000 | 3,618,125 | |
32,032,590 | |||
Technology & Electronics — 1.94% | |||
Black Knight InfoServ 144A 3.625% 9/1/28 # | 920,000 | 916,550 | |
Go Daddy Operating 144A 3.50% 3/1/29 # | 3,205,000 | 3,104,844 | |
Qorvo 144A 3.375% 4/1/31 # | 1,560,000 | 1,614,772 | |
Sensata Technologies 144A 4.00% 4/15/29 # | 3,600,000 | 3,660,876 | |
SS&C Technologies 144A 5.50% 9/30/27 # | 2,071,000 | 2,182,316 | |
11,479,358 | |||
Transportation — 3.10% | |||
Air Canada 144A 3.875% 8/15/26 # | 1,980,000 | 2,007,225 | |
Carriage Purchaser 144A 7.875% 10/15/29 # | 1,095,000 | 1,090,089 | |
Seaspan 144A 5.50% 8/1/29 # | 4,670,000 | 4,722,117 | |
Stena International 144A 6.125% 2/1/25 # | 1,270,000 | 1,306,049 | |
United Airlines Holdings 4.875% 1/15/25 | 6,205,000 | 6,398,937 | |
VistaJet Malta Finance 144A 10.50% 6/1/24 # | 2,610,000 | 2,820,497 | |
18,344,914 | |||
Utilities — 1.40% | |||
Calpine | |||
144A 4.625% 2/1/29 # | 200,000 | 194,250 | |
144A 5.00% 2/1/31 # | 3,380,000 | 3,317,234 | |
PG&E 5.25% 7/1/30 | 1,625,000 | 1,699,750 | |
Vistra Operations 144A 4.375% 5/1/29 # | 3,140,000 | 3,112,525 | |
8,323,759 | |||
Total Corporate Bonds (cost $502,839,872) | 516,561,809 | ||
Loan Agreements — 10.39% | |||
Air Canada 4.25% (LIBOR03M + 3.50%) 8/11/28 • | 1,125,000 | 1,138,125 | |
Applied Systems 2nd Lien 6.25% (LIBOR03M + 5.50%) 9/19/25 • | 9,203,889 | 9,355,367 | |
DIRECTV Financing 5.75% (LIBOR03M + 5.00%) 8/2/27 • | 610,000 | 611,144 | |
Epicor Software 2nd Lien 8.75% (LIBOR01M + 7.75%) 7/31/28 • | 2,235,800 | 2,300,079 | |
Frontier Communications Tranche B 4.50% (LIBOR03M + 3.75%) 5/1/28 • | 1,368,125 | 1,369,151 | |
Gainwell Acquisition Tranche B 4.75% (LIBOR03M + 4.00%) 10/1/27 • | 3,499,371 | 3,513,585 | |
Global Medical Response 5.75% (LIBOR06M + 4.75%) 10/2/25 • | 3,895,951 | 3,884,384 |
NQ-137 [10/21] 12/21 (1946871) 7
Schedule of investments
Delaware High-Yield Opportunities Fund (Unaudited)
Principal amount° | Value (US $) | ||
Loan Agreements (continued) | |||
Green Energy Partners Tranche B-1 6.50% (LIBOR03M + 5.50%) 11/13/21 • | 1,621,583 | $ 1,545,909 | |
Green Energy Partners Tranche B-2 6.50% (LIBOR03M + 5.50%) 11/13/21 • | 436,569 | 416,195 | |
Hamilton Projects Acquiror 5.75% (LIBOR03M + 4.75%) 6/17/27 • | 2,954,790 | 2,960,330 | |
Hamilton Projects Acquiror TBD X | 1,140,000 | 1,142,138 | |
Peraton Tranche B 1st Lien 4.50% (LIBOR01M + 3.75%) 2/1/28 • | 3,188,975 | 3,198,941 | |
Schweitzer-Mauduit International Tranche B 4.50% (LIBOR01M + 3.75%) 2/9/28 • | 1,617,945 | 1,616,934 | |
Solenis International 2nd Lien 8.587% (LIBOR01M + 8.50%) 6/26/26 • | 5,117,295 | 5,127,530 | |
Sovos Compliance 1st Lien 5.00% (LIBOR03M + 4.50%) 8/11/28 • | 750,411 | 755,838 | |
Spirit Aerosystems Tranche B TBD 1/15/25 X | 1,612,228 | 1,619,281 | |
Surgery Center Holdings 4.50% (LIBOR01M + 3.75%) 8/31/26 • | 3,347,325 | 3,358,947 | |
Tecta America 2nd Lien 9.25% (LIBOR01M + 8.50%) 4/9/29 • | 1,810,000 | 1,810,000 | |
Ultimate Software Group 2nd Lien 7.50% (LIBOR03M + 6.75%) 5/3/27 • | 5,859,998 | 5,982,079 | |
Vantage Specialty Chemicals 1st Lien 4.50% (LIBOR03M + 3.50%) 10/28/24 • | 1,746,392 | 1,717,358 | |
Vantage Specialty Chemicals 2nd Lien 9.25% (LIBOR03M + 8.25%) 10/27/25 • | 1,653,000 | 1,608,782 | |
Verscend Holding Tranche B 4.087% (LIBOR01M + 4.00%) 8/27/25 • | 6,497,806 | 6,517,300 | |
Total Loan Agreements (cost $60,793,660) | 61,549,397 |
Number of shares | |||
Common Stock — 0.00% | |||
Communications — 0.00% | |||
Century Communications =, † | 4,310,000 | 0 | |
Total Common Stock (cost $130,478) | 0 | ||
Short-Term Investments — 2.35% | |||
Money Market Mutual Funds — 2.35% | |||
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.03%) | 3,472,228 | 3,472,228 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.01%) | 3,472,227 | 3,472,227 | |
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.03%) | 3,472,227 | 3,472,227 |
8 NQ-137 [10/21] 12/21 (1946871)
(Unaudited)
Number of shares | Value (US $) | ||
Short-Term Investments (continued) | |||
Money Market Mutual Funds (continued) | |||
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.03%) | 3,472,227 | $ 3,472,227 | |
Total Short-Term Investments (cost $13,888,909) | 13,888,909 | ||
Total Value of Securities—99.94% (cost $577,652,919) | 592,000,115 | ||
Receivables and Other Assets Net of Liabilities—0.06% | 365,275 | ||
Net Assets Applicable to 152,994,883 Shares Outstanding—100.00% | $592,365,390 |
° | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
# | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At October 31, 2021, the aggregate value of Rule 144A securities was $376,744,161, which represents 63.60% of the Fund's net assets. |
μ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at October 31, 2021. Rate will reset at a future date. |
ψ | Perpetual security. Maturity date represents next call date. |
> | PIK. 100% of the income received was in the form of cash. |
• | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at October 31, 2021. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. LIBOR03M, LIBOR06M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
X | This loan will settle after October 31, 2021, at which time the interest rate, based on the LIBOR and the agreed upon spread on trade date, will be reflected. |
= | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
† | Non-income producing security. |
NQ-137 [10/21] 12/21 (1946871) 9
Schedule of investments
Delaware High-Yield Opportunities Fund (Unaudited)
Unfunded Loan Commitments
The Fund may invest in floating rate loans. In connection with these investments, the Fund may also enter into unfunded corporate loan commitments (commitments). Commitments may obligate the Fund to furnish temporary financing to a borrower until permanent financing can be arranged. In connection with these commitments, the Fund earns a commitment fee, typically set as a percentage of the commitment amount. The following unfunded loan commitment was outstanding at October 31, 2021:
Borrower | Principal Amount | Commitment | Value | Unrealized Appreciation (Depreciation) | ||||
Sovos Compliance 1st Lien 8/11/28 | $129,589 | $129,589 | $130,526 | $937 |
Summary of abbreviations: |
DAC – Designated Activity Company |
GS – Goldman Sachs |
ICE – Intercontinental Exchange, Inc. |
LIBOR – London interbank offered rate |
LIBOR01M – ICE LIBOR USD 1 Month |
LIBOR03M – ICE LIBOR USD 3 Month |
LIBOR06M – ICE LIBOR USD 6 Month |
PIK – Payment-in-kind |
TBD – To be determined |
USD – US Dollar |
10 NQ-137 [10/21] 12/21 (1946871)