Schedule of investments
Delaware Strategic Income FundΒ | October 31, 2023 (Unaudited) |
Β | Β | Principal amountΒ° | Value (US $) |
Agency Collateralized Mortgage Obligations β 9.92% | |||
Fannie Mae REMICS Series 2014-34 MA 3.00% 2/25/44 | Β | ββββ45,990 | $βββββ42,819 |
Freddie Mac Structured Agency Credit Risk REMIC Trust | Β | Β | Β |
Series 2020-HQA2 M2 144A 8.535% (SOFR + 3.21%) 3/25/50β#, β’ | Β | β1,027,566 | β β1,062,355 |
Series 2021-DNA1 M2 144A 7.121% (SOFR + 1.80%) 1/25/51β#, β’ | Β | β1,036,318 | β β1,031,146 |
Series 2021-DNA3 M2 144A 7.421% (SOFR+ 2.10%) 10/25/33β#, β’ | Β | β1,350,000 | β β1,352,290 |
Series 2021-DNA5 M2 144A 6.971% (SOFR + 1.65%) 1/25/34β#, β’ | Β | β1,963,978 | β β1,964,427 |
Series 2021-HQA1 M2 144A 7.571% (SOFR + 2.25%) 8/25/33β#, β’ | Β | β4,533,826 | β β4,481,415 |
Series 2021-HQA2 M2 144A 7.371% (SOFR + 2.05%) 12/25/33β#, β’ | Β | β4,500,000 | β β4,437,939 |
Series 2022-DNA1 M2 144A 7.821% (SOFR + 2.50%) 1/25/42β#, β’ | Β | β3,000,000 | β β2,932,500 |
Series 2022-DNA2 M2 144A 9.071% (SOFR + 3.75%) 2/25/42β#, β’ | Β | β3,000,000 | β β3,041,250 |
GNMA Series 2015-151 KC 3.50% 4/20/34 | Β | ββββ15,534 | βββββ14,631 |
Total Agency Collateralized Mortgage Obligationsβ(cost $20,453,267) | β20,360,772 | ||
Agency Commercial Mortgage-Backed Securities β 0.86% | |||
FREMF Mortgage Trust | Β | Β | Β |
Series 2017-K66 B 144A 4.039% 7/25/27β#, β’ | Β | βββ325,000 | β βββ302,275 |
Series 2017-K71 B 144A 3.752% 11/25/50β#, β’ | Β | βββ325,000 | β βββ297,016 |
Series 2018-K72 B 144A 3.994% 12/25/50β#, β’ | Β | βββ325,000 | β βββ299,309 |
Series 2018-K86 C 144A 4.294% 11/25/51β#, β’ | Β | βββ970,000 | ββββ871,973 |
Total Agency Commercial Mortgage-Backed Securitiesβ(cost $2,140,546) | ββ1,770,573 | ||
Agency Mortgage-Backed Securities β 4.53% | |||
Fannie Mae S.F. 30 yr | Β | Β | Β |
4.50% 2/1/53β | Β | βββ779,054 | β βββ696,375 |
5.50% 10/1/52β | Β | β2,396,357 | β β2,283,381 |
5.50% 7/1/53β | Β | βββ737,222 | β βββ699,530 |
6.00% 12/1/52β | Β | β1,195,047 | β β1,168,248 |
6.50% 9/1/53β | Β | βββ999,222 | β βββ994,391 |
Freddie Mac S.F. 15 yr 5.00% 6/1/38 | Β | βββ981,798 | β βββ947,142 |
NQ- DD [1023] 1223 (3265778)Β Β Β Β 1
Schedule of investments
Delaware Strategic Income Fund Β Β (Unaudited)
Β | Β | Principal amountΒ° | Value (US $) |
Agency Mortgage-Backed Securitiesβ(continued) | |||
Freddie Mac S.F. 20 yr 5.50% 6/1/43 | Β | β1,001,943 | $ββββ964,346 |
Freddie Mac S.F. 30 yr 5.00% 6/1/53 | Β | β1,666,594 | ββ1,538,128 |
Total Agency Mortgage-Backed Securitiesβ(cost $9,658,737) | ββ9,291,541 | ||
Convertible Bond β 0.22% | |||
Helix Energy Solutions Group 6.75% exercise price $6.97, maturity date 2/15/26β | Β | βββ290,000 | ββββ453,995 |
Total Convertible Bondβ(cost $236,390) | ββββ453,995 |
Β | Β | Β | Β |
Corporate Bonds β 45.44% | |||
Banking β 4.67% | |||
Access Bank 144A 6.125% 9/21/26β# | Β | βββ600,000 | ββββ502,200 |
Banco Mercantil del Norte 144A 8.375% 10/14/30β#, ΞΌ, Ο | Β | βββ500,000 | ββββ456,470 |
Banco Santander Mexico 144A 7.525% 10/1/28β#, ΞΌ | Β | βββ350,000 | ββββ350,194 |
Bank of New York Mellon 4.70% 9/20/25βΞΌ, Ο | Β | ββββ47,000 | βββββ44,602 |
BBVA Bancomer | Β | Β | Β |
144A 5.875% 9/13/34β#, ΞΌ | Β | βββ600,000 | ββββ520,368 |
5.875% 9/13/34βΞΌ | Β | βββ200,000 | ββββ173,456 |
Citizens Bank 6.064% 10/24/25βΞΌ | Β | βββ285,000 | ββββ272,582 |
Deutsche Bank | Β | Β | Β |
3.729% 1/14/32βΞΌ | Β | βββ200,000 | ββββ144,879 |
5.625% 5/19/31βΞΌ | EUR | βββ200,000 | ββββ206,212 |
6.72% 1/18/29βΞΌ | Β | βββ150,000 | ββββ147,285 |
7.146% 7/13/27βΞΌ | Β | βββ300,000 | ββββ299,866 |
Hana Bank 144A 3.50% 10/19/26β#, ΞΌ, Ο | Β | βββ200,000 | ββββ177,237 |
Huntington National Bank 4.552% 5/17/28βΞΌ | Β | β1,870,000 | ββ1,719,355 |
ICICI Bank 144A 4.00% 3/18/26β# | Β | β1,200,000 | ββ1,152,980 |
KeyBank 4.15% 8/8/25β | Β | β1,855,000 | ββ1,725,753 |
KeyCorp 4.789% 6/1/33βΞΌ | Β | ββββ68,000 | βββββ53,647 |
NBK SPC 144A 1.625% 9/15/27β#, ΞΌ | Β | βββ715,000 | ββββ631,221 |
NBK Tier 1 144A 3.625% 8/24/26β#, ΞΌ, Ο | Β | βββ206,000 | ββββ178,150 |
NBK Tier 1 Financing 2 144A 4.50% 8/27/25β#, ΞΌ, Ο | Β | βββ300,000 | ββββ276,098 |
Popular 7.25% 3/13/28β | Β | βββ255,000 | ββββ253,099 |
SVB Financial Group | Β | Β | Β |
4.00% 5/15/26ββ‘, Ο | Β | βββ385,000 | ββββββ6,182 |
4.57% 4/29/33βΞΌ, β‘ | Β | βββ227,000 | ββββ133,145 |
2Β Β Β Β NQ- DD [1023] 1223 (3265778)
(Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Corporate Bondsβ(continued) | |||
Bankingβ(continued) | |||
Truist Financial 4.95% 9/1/25βΞΌ, Ο | Β | βββ165,000 | $ββββ150,057 |
Β | ββ9,575,038 | ||
Basic Industry β 2.40% | |||
AngloGold Ashanti Holdings | Β | Β | Β |
3.75% 10/1/30β | Β | βββ350,000 | β βββ275,812 |
6.50% 4/15/40β | Β | βββ120,000 | β βββ103,918 |
CSN Resources 144A 5.875% 4/8/32β# | Β | βββ535,000 | β βββ423,591 |
Domtar 144A 6.75% 10/1/28β# | Β | βββ509,000 | β βββ414,819 |
First Quantum Minerals | Β | Β | Β |
144A 6.875% 10/15/27β# | Β | β1,505,000 | β β1,284,120 |
144A 8.625% 6/1/31β# | Β | βββ865,000 | β βββ731,229 |
Sasol Financing USA | Β | Β | Β |
6.50% 9/27/28β | Β | βββ440,000 | β βββ389,851 |
144A 8.75% 5/3/29β# | Β | β1,375,000 | ββ1,307,515 |
Β | ββ4,930,855 | ||
Brokerage β 1.03% | |||
Jefferies Financial Group 6.50% 1/20/43β | Β | βββ245,000 | β βββ226,195 |
NFP | Β | Β | Β |
144A 6.875% 8/15/28β# | Β | β1,957,000 | β β1,673,734 |
144A 7.50% 10/1/30β# | Β | βββ235,000 | ββββ222,806 |
Β | ββ2,122,735 | ||
Capital Goods β 3.72% | |||
Ardagh Metal Packaging Finance USA 2.00% 9/1/28β | EUR | βββ800,000 | β βββ699,193 |
Canpack 144A 3.875% 11/15/29β# | Β | βββ170,000 | β βββ133,674 |
Cemex 144A 9.125% 3/14/28β#, ΞΌ, Ο | Β | βββ940,000 | β βββ964,802 |
CP Atlas Buyer 144A 7.00% 12/1/28β# | Β | βββ140,000 | β βββ106,851 |
Embraer Netherlands Finance 144A 7.00% 7/28/30β# | Β | β1,135,000 | β β1,109,338 |
GFL Environmental 144A 5.125% 12/15/26β# | Β | ββββ76,000 | β ββββ72,200 |
Mauser Packaging Solutions Holding 144A 7.875% 8/15/26β# | Β | βββ460,000 | β βββ431,305 |
SAN Miguel Industrias 144A 3.50% 8/2/28β# | Β | β1,755,000 | β β1,435,607 |
Standard Industries | Β | Β | Β |
144A 3.375% 1/15/31β# | Β | βββ159,000 | β βββ120,506 |
144A 4.375% 7/15/30β# | Β | β1,705,000 | β β1,394,661 |
144A 4.75% 1/15/28β# | Β | ββββ38,000 | β ββββ34,050 |
Turkiye Sise ve Cam Fabrikalari 144A 6.95% 3/14/26β# | Β | β1,145,000 | β β1,108,440 |
Wesco Aircraft Holdings 144A 8.50% 11/15/24β#, β‘ | Β | βββ710,000 | βββββ28,400 |
Β | ββ7,639,027 |
NQ- DD [1023] 1223 (3265778)Β Β Β Β 3
Schedule of investments
Delaware Strategic Income Fund Β Β (Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Corporate Bondsβ(continued) | |||
Communications β 6.76% | |||
Advantage Sales & Marketing 144A 6.50% 11/15/28β# | Β | βββ881,000 | $ββββ719,284 |
Altice France 144A 5.50% 10/15/29β# | Β | βββ865,000 | β βββ595,678 |
CCO Holdings | Β | Β | Β |
144A 4.25% 2/1/31β# | Β | ββββ41,000 | β ββββ31,938 |
144A 4.50% 8/15/30β# | Β | βββ530,000 | β βββ425,678 |
Cellnex Finance 144A 3.875% 7/7/41β# | Β | βββ400,000 | β βββ266,906 |
CMG Media 144A 8.875% 12/15/27β# | Β | βββ415,000 | β βββ321,015 |
Consolidated Communications | Β | Β | Β |
144A 5.00% 10/1/28β# | Β | βββ486,000 | β βββ366,519 |
144A 6.50% 10/1/28β# | Β | β1,667,000 | β β1,320,264 |
CSC Holdings | Β | Β | Β |
144A 5.375% 2/1/28β# | Β | β1,838,000 | β β1,465,392 |
144A 5.75% 1/15/30β# | Β | βββ248,000 | β βββ130,138 |
Cumulus Media New Holdings 144A 6.75% 7/1/26β# | Β | βββ500,000 | β βββ357,958 |
Digicel International Finance 144A 8.75% 5/25/24β# | Β | β1,132,000 | β β1,039,179 |
Directv Financing 144A 5.875% 8/15/27β# | Β | βββ920,000 | β βββ806,996 |
Discovery Communications 4.00% 9/15/55β | Β | ββββ10,000 | β βββββ5,748 |
DISH DBS 144A 5.75% 12/1/28β# | Β | βββ780,000 | β βββ567,938 |
Frontier Communications Holdings | Β | Β | Β |
144A 5.00% 5/1/28β# | Β | βββ203,000 | β βββ175,443 |
144A 5.875% 10/15/27β# | Β | βββ836,000 | β βββ762,861 |
5.875% 11/1/29β | Β | βββ338,226 | β βββ254,636 |
144A 6.00% 1/15/30β# | Β | βββ216,000 | β βββ162,856 |
144A 6.75% 5/1/29β# | Β | βββ219,000 | β βββ173,568 |
Gray Escrow II 144A 5.375% 11/15/31β# | Β | β1,870,000 | β β1,180,178 |
Matterhorn Telecom 3.125% 9/15/26β | EUR | ββββ69,000 | β ββββ68,376 |
Network i2i 144A 5.65% 1/15/25β#, ΞΌ, Ο | Β | βββ250,000 | β βββ243,169 |
Prosus 144A 4.193% 1/19/32β# | Β | β1,335,000 | β β1,026,080 |
Summit Digitel Infrastructure 144A 2.875% 8/12/31β# | Β | βββ700,000 | β βββ521,292 |
Time Warner Cable 7.30% 7/1/38β | Β | βββ350,000 | β βββ326,343 |
Vmed O2 UK Financing I 144A 4.25% 1/31/31β# | Β | βββ400,000 | β βββ315,009 |
Warnermedia Holdings 5.141% 3/15/52β | Β | βββ330,000 | ββββ233,688 |
Β | β13,864,130 | ||
Consumer Cyclical β 6.09% | |||
Alibaba Group Holding 3.40% 12/6/27β | Β | β1,000,000 | β βββ913,903 |
Alsea 144A 7.75% 12/14/26β# | Β | β1,560,000 | β β1,549,998 |
Arches Buyer 144A 6.125% 12/1/28β# | Β | βββ463,000 | β βββ374,435 |
Arcos Dorados 144A 6.125% 5/27/29β# | Β | β1,215,000 | β β1,133,595 |
Bath & Body Works 6.875% 11/1/35β | Β | β1,220,000 | β β1,077,829 |
4Β Β Β Β NQ- DD [1023] 1223 (3265778)
(Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Corporate Bondsβ(continued) | |||
Consumer Cyclicalβ(continued) | |||
Carnival | Β | Β | Β |
144A 6.00% 5/1/29β# | Β | βββ805,000 | $ββββ680,721 |
144A 7.625% 3/1/26β# | Β | β2,036,000 | β β1,981,400 |
Ford Motor Credit 6.95% 6/10/26β | Β | βββ540,000 | β βββ541,949 |
Kia 144A 1.75% 10/16/26β# | Β | βββ200,000 | β βββ177,598 |
LSF9 Atlantis Holdings 144A 7.75% 2/15/26β# | Β | βββ478,000 | β βββ431,968 |
Michaels | Β | Β | Β |
144A 5.25% 5/1/28β# | Β | βββ351,000 | β βββ254,651 |
144A 7.875% 5/1/29β# | Β | βββ331,000 | β βββ184,915 |
PetSmart 144A 7.75% 2/15/29β# | Β | βββ840,000 | β βββ774,150 |
Royal Caribbean Cruises 144A 5.50% 4/1/28β# | Β | βββ445,000 | β βββ406,170 |
Sands China 5.375% 8/8/25β | Β | βββ600,000 | β βββ581,098 |
Staples | Β | Β | Β |
144A 7.50% 4/15/26β# | Β | β1,230,000 | β β1,004,232 |
144A 10.75% 4/15/27β# | Β | βββ411,000 | β βββ226,818 |
VICI Properties | Β | Β | Β |
4.95% 2/15/30β | Β | βββ125,000 | β βββ111,562 |
5.125% 5/15/32β | Β | ββββ95,000 | βββββ82,184 |
Β | β12,489,176 | ||
Consumer Non-Cyclical β 3.52% | |||
Bausch Health | Β | Β | Β |
144A 5.50% 11/1/25β# | Β | βββ120,000 | β βββ103,594 |
144A 11.00% 9/30/28β# | Β | βββ173,000 | β βββ105,963 |
Central American Bottling 144A 5.25% 4/27/29β# | Β | βββ585,000 | β βββ515,654 |
DaVita | Β | Β | Β |
144Aβ 3.75% 2/15/31β# | Β | βββ250,000 | β βββ179,918 |
144Aβ 4.625% 6/1/30β# | Β | βββ335,000 | β βββ262,814 |
Endo Luxembourg Finance 144A 6.125% 4/1/29β#, β‘ | Β | ββββ42,000 | β ββββ27,764 |
Heartland Dental 144A 8.50% 5/1/26β# | Β | βββ239,000 | β βββ217,759 |
InRetail Consumer 144A 3.25% 3/22/28β# | Β | β1,740,000 | β β1,461,715 |
JBS USA LUX | Β | Β | Β |
3.00% 2/2/29β | Β | βββ293,000 | β βββ241,438 |
3.625% 1/15/32β | Β | βββ400,000 | β βββ307,833 |
MajorDrive Holdings IV 144A 6.375% 6/1/29β# | Β | βββ743,000 | β βββ576,601 |
Medline Borrower | Β | Β | Β |
144A 3.875% 4/1/29β# | Β | βββ579,000 | β βββ489,429 |
144A 5.25% 10/1/29β# | Β | βββ266,000 | β βββ226,687 |
MHP Lux | Β | Β | Β |
144A 6.25% 9/19/29β# | Β | βββ228,000 | β βββ144,588 |
144A 6.95% 4/3/26β# | Β | βββ247,000 | β βββ184,870 |
NQ- DD [1023] 1223 (3265778)Β Β Β Β 5
Schedule of investments
Delaware Strategic Income Fund Β Β (Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Corporate Bondsβ(continued) | |||
Consumer Non-Cyclicalβ(continued) | |||
Minerva Luxembourg 144A 8.875% 9/13/33β# | Β | βββ560,000 | $ββββ550,592 |
Par Pharmaceutical 144A 7.50% 4/1/27β#, β‘ | Β | βββ342,000 | β βββ232,237 |
Pilgrim's Pride 4.25% 4/15/31β | Β | βββ433,000 | β βββ357,130 |
Tenet Healthcare | Β | Β | Β |
6.125% 10/1/28β | Β | βββ145,000 | β βββ134,615 |
6.875% 11/15/31β | Β | βββ370,000 | β βββ341,548 |
Teva Pharmaceutical Finance Netherlands III | Β | Β | Β |
5.125% 5/9/29β | Β | βββ200,000 | β βββ174,758 |
6.75% 3/1/28β | Β | βββ400,000 | ββββ382,871 |
Β | ββ7,220,378 | ||
Electric β 1.43% | |||
Calpine | Β | Β | Β |
144A 5.00% 2/1/31β# | Β | βββ145,000 | β βββ117,099 |
144A 5.125% 3/15/28β# | Β | βββ279,000 | β βββ249,951 |
Continuum Energy Aura 144A 9.50% 2/24/27β# | Β | βββ555,000 | β βββ549,664 |
Duke Energy 4.875% 9/16/24βΞΌ, Ο | Β | ββββ80,000 | β ββββ77,610 |
Minejesa Capital 5.625% 8/10/37β | Β | βββ200,000 | β βββ148,076 |
NRG Energy 144A 4.45% 6/15/29β# | Β | βββ285,000 | β βββ246,516 |
Pacific Gas and Electric 3.30% 8/1/40β | Β | βββ367,000 | β βββ222,953 |
TerraForm Power Operating 144A 5.00% 1/31/28β# | Β | βββ115,000 | β βββ105,467 |
Vistra 144A 7.00% 12/15/26β#, ΞΌ, Ο | Β | β1,295,000 | β β1,180,114 |
Vistra Operations 144A 4.30% 7/15/29β# | Β | ββββ52,000 | βββββ45,276 |
Β | ββ2,942,726 | ||
Energy β 6.76% | |||
Ascent Resources Utica Holdings | Β | Β | Β |
144A 5.875% 6/30/29β# | Β | ββββ96,000 | β ββββ84,905 |
144A 7.00% 11/1/26β# | Β | βββ236,000 | β βββ228,122 |
Bellatrix Exploration 12.50% 12/15/23β | Β | βββ249,000 | β βββββββββ0 |
Callon Petroleum | Β | Β | Β |
144A 7.50% 6/15/30β# | Β | β1,605,000 | β β1,556,286 |
144A 8.00% 8/1/28β# | Β | ββββ75,000 | β ββββ74,199 |
CNX Midstream Partners 144A 4.75% 4/15/30β# | Β | βββ500,000 | β βββ412,516 |
CNX Resources 144A 6.00% 1/15/29β# | Β | βββ700,000 | β βββ642,559 |
Cosan Luxembourg 144A 5.50% 9/20/29β# | Β | βββ700,000 | β βββ624,615 |
Crestwood Midstream Partners | Β | Β | Β |
144A 5.625% 5/1/27β# | Β | βββ210,000 | β βββ202,203 |
144A 6.00% 2/1/29β# | Β | βββ261,000 | β βββ252,806 |
Energean Israel Finance 144A 8.50% 9/30/33β# | Β | β1,320,000 | β β1,156,650 |
Energy Transfer 6.50% 11/15/26βΞΌ, Ο | Β | βββ752,000 | β βββ682,951 |
6Β Β Β Β NQ- DD [1023] 1223 (3265778)
(Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Corporate Bondsβ(continued) | |||
Energyβ(continued) | |||
EQM Midstream Partners 144A 4.75% 1/15/31β# | Β | β1,430,000 | $ββ1,205,637 |
Ferrellgas 144A 5.375% 4/1/26β# | Β | βββ187,000 | β βββ175,208 |
Genesis Energy | Β | Β | Β |
7.75% 2/1/28β | Β | βββ850,000 | β βββ801,116 |
8.00% 1/15/27β | Β | βββ590,000 | β βββ567,085 |
Geopark 144A 5.50% 1/17/27β# | Β | β1,220,000 | β β1,026,207 |
Guara Norte 144A 5.198% 6/15/34β# | Β | βββ548,241 | β βββ465,517 |
Murphy Oil 6.375% 7/15/28β | Β | β1,262,000 | β β1,223,492 |
NuStar Logistics 6.375% 10/1/30β | Β | β1,225,000 | β β1,134,368 |
PDC Energy 5.75% 5/15/26β | Β | βββ445,000 | β βββ443,387 |
Tullow Oil 144A 10.25% 5/15/26β# | Β | βββ640,000 | β βββ550,227 |
Vital Energy 10.125% 1/15/28β | Β | βββ351,000 | ββββ352,238 |
Β | β13,862,294 | ||
Finance Companies β 0.80% | |||
AerCap Ireland Capital DAC | Β | Β | Β |
2.45% 10/29/26β | Β | βββ150,000 | β βββ133,483 |
3.30% 1/30/32β | Β | βββ150,000 | β βββ116,187 |
3.40% 10/29/33β | Β | βββ150,000 | β βββ112,242 |
Castlelake Aviation Finance DAC 144A 5.00% 4/15/27β# | Β | β1,335,000 | β β1,179,263 |
Country Garden Holdings 7.25% 4/8/26β | Β | βββ200,000 | β βββββ9,710 |
Logan Group 5.75% 1/14/25ββ‘ | Β | βββ200,000 | β ββββ12,568 |
RKPF Overseas 2020 A 5.125% 7/26/26β | Β | βββ300,000 | βββββ87,831 |
Β | ββ1,651,284 | ||
Government Agency β 2.10% | |||
Comision Federal de Electricidad 144A 3.875% 7/26/33β# | Β | βββ750,000 | β βββ546,350 |
DP World 4.70% 9/30/49β | Β | βββ200,000 | β βββ144,630 |
Ecopetrol 6.875% 4/29/30β | Β | βββ644,000 | β βββ580,372 |
First Abu Dhabi Bank 4.50% 4/5/26βΞΌ, Ο | Β | βββ200,000 | β βββ187,850 |
Georgian Railway JSC 4.00% 6/17/28β | Β | βββ865,000 | β βββ743,986 |
Oryx Funding 144A 5.80% 2/3/31β# | Β | βββ485,000 | β βββ449,459 |
Perusahaan Perseroan Persero Perusahaan Listrik Negara 144A 5.45% 5/21/28β# | Β | βββ700,000 | β βββ679,490 |
Petroleos Mexicanos | Β | Β | Β |
5.95% 1/28/31β | Β | β1,135,000 | β βββ812,830 |
6.70% 2/16/32β | Β | βββ237,000 | ββββ174,899 |
Β | ββ4,319,866 |
NQ- DD [1023] 1223 (3265778)Β Β Β Β 7
Schedule of investments
Delaware Strategic Income Fund Β Β (Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Corporate Bondsβ(continued) | |||
Insurance β 0.53% | |||
Ardonagh Midco 2 144A PIK 11.50% 1/15/27β#, Β« | Β | βββ850,984 | $ββββ842,157 |
Brighthouse Financial 4.70% 6/22/47β | Β | βββ112,000 | β ββββ73,658 |
MetLife 3.85% 9/15/25βΞΌ, Ο | Β | βββ185,000 | ββββ168,664 |
Β | ββ1,084,479 | ||
Natural Gas β 0.25% | |||
Medco Laurel Tree 144A 6.95% 11/12/28β# | Β | βββ545,000 | ββββ503,865 |
Β | ββββ503,865 | ||
Real Estate Investment Trusts β 0.21% | |||
CIBANCO Institucion de Banca Multiple Trust 144A 4.375% 7/22/31β# | Β | βββ605,000 | ββββ440,779 |
Β | ββββ440,779 | ||
Technology β 2.12% | |||
Broadcom 144A 3.469% 4/15/34β# | Β | βββ320,000 | β βββ243,923 |
CDW 3.276% 12/1/28β | Β | ββββ95,000 | β ββββ81,340 |
CommScope Technologies 144A 6.00% 6/15/25β# | Β | βββ250,000 | β βββ150,376 |
Entegris Escrow 144A 4.75% 4/15/29β# | Β | βββ305,000 | β βββ273,438 |
Iron Mountain | Β | Β | Β |
144A 5.25% 7/15/30β# | Β | βββ419,000 | β βββ364,338 |
144A 5.625% 7/15/32β# | Β | βββ600,000 | β βββ513,246 |
Iron Mountain Information Management Services 144A 5.00% 7/15/32β# | Β | β1,295,000 | β β1,061,139 |
NCR Voyix | Β | Β | Β |
144A 5.00% 10/1/28β# | Β | βββ419,000 | β βββ362,381 |
144A 5.125% 4/15/29β# | Β | β1,245,000 | β β1,071,935 |
144A 5.25% 10/1/30β# | Β | βββ271,000 | ββββ224,730 |
Β | ββ4,346,846 | ||
Transportation β 2.71% | |||
Acu Petroleo Luxembourg 144A 7.50% 7/13/35β# | Β | β1,231,933 | β β1,112,570 |
Azul Secured Finance 144A 11.93% 8/28/28β# | Β | β1,000,000 | β βββ972,874 |
Burlington Northern Santa Fe 2.875% 6/15/52β | Β | βββ180,000 | β βββ102,858 |
Grupo Aeromexico 144A 8.50% 3/17/27β# | Β | β2,000,000 | β β1,856,607 |
International Consolidated Airlines Group 3.75% 3/25/29β | EUR | βββ100,000 | β ββββ93,622 |
Mileage Plus Holdings 144A 6.50% 6/20/27β# | Β | βββ300,000 | β βββ296,594 |
Rumo Luxembourg 144A 5.25% 1/10/28β# | Β | βββ800,000 | β βββ731,672 |
United Airlines 144A 4.625% 4/15/29β# | Β | βββ457,000 | ββββ386,441 |
Β | ββ5,553,238 |
8Β Β Β Β NQ- DD [1023] 1223 (3265778)
(Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Corporate Bondsβ(continued) | |||
Utilities β 0.34% | |||
Clean Renewable Power Mauritius 144A 4.25% 3/25/27β# | Β | βββ603,000 | $ββββ515,366 |
Grupo Energia Bogota 144A 4.875% 5/15/30β# | Β | βββ200,000 | ββββ176,931 |
Β | ββββ692,297 | ||
Total Corporate Bondsβ(cost $105,049,642) | β93,239,013 | ||
Municipal Bonds β 1.06% | |||
Commonwealth of Puerto Rico(Restructured) | Β | Β | Β |
Series A β7.201% 7/1/24^ | Β | ββββ21,392 | β ββββ20,728 |
Series A-1β4.00% 7/1/35 | Β | ββββ95,758 | β ββββ80,493 |
Series A-1β4.00% 7/1/37 | Β | ββββ22,930 | β ββββ18,674 |
GDB Debt Recovery Authority of Puerto Rico β7.50% 8/20/40 | Β | β2,507,097 | ββ2,049,552 |
Total Municipal Bondsβ(cost $2,444,620) | ββ2,169,447 | ||
Non-Agency Asset-Backed Securities β 8.04% | |||
Citicorp Residential Mortgage Trust Series 2006-3 A5 4.655% 11/25/36 Ο | Β | ββββ58,390 | β ββββ57,209 |
DataBank Issuer Series 2021-1A A2 144A 2.06% 2/27/51 # | Β | β4,000,000 | β β3,523,009 |
Diamond Infrastructure Funding Series 2021-1A A 144A 1.76% 4/15/49 # | Β | βββ750,000 | β βββ638,678 |
Domino's Pizza Master Issuer Series 2021-1A A2I 144A 2.662% 4/25/51 # | Β | βββ487,500 | β βββ407,075 |
Frontier Issuer Series 2023-1 A2 144A 6.60% 8/20/53 # | Β | β5,000,000 | β β4,743,629 |
Hardee's Funding Series 2020-1A A2 144A 3.981% 12/20/50 # | Β | β2,139,500 | β β1,791,521 |
Retained Vantage Data Centers Issuer Series 2023-1A A2A 144A 5.00% 9/15/48 # | Β | β4,000,000 | β β3,608,856 |
Taco Bell Funding Series 2018-1A A2II 144A 4.94% 11/25/48 # | Β | βββ952,500 | β βββ878,209 |
Wendy's Funding Series 2018-1A A2II 144A 3.884% 3/15/48 # | Β | βββ942,500 | ββββ851,550 |
Total Non-Agency Asset-Backed Securitiesβ(cost $17,109,984) | β16,499,736 | ||
NQ- DD [1023] 1223 (3265778)Β Β Β Β 9
Schedule of investments
Delaware Strategic Income Fund Β Β (Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Non-Agency Collateralized Mortgage Obligations β 9.16% | |||
Connecticut Avenue Securities Trust | Β | Β | Β |
Series 2022-R01 1M2 144A 7.221% (SOFR + 1.90%) 12/25/41β#, β’ | Β | β3,000,000 | $ββ2,955,039 |
Series 2022-R02 2M2 144A 8.321% (SOFR + 3.00%) 1/25/42β#, β’ | Β | β3,000,000 | β β2,998,836 |
Series 2023-R07 2M2 144A 8.571% (SOFR + 3.25%) 9/25/43β#, β’ | Β | β5,000,000 | β β5,066,975 |
Freddie Mac Structured Agency Credit Risk Debt Notes Series 2023-HQA2 M1B 144A 8.671% (SOFR + 3.35%) 6/25/43 #, β’ | Β | β2,500,000 | β β2,555,795 |
JPMorgan Mortgage Trust Series 2021-13 B1 144A 3.142% 4/25/52 #, β’ | Β | βββ574,380 | β βββ420,103 |
Sequoia Mortgage Trust | Β | Β | Β |
Series 2014-1 B3 144A 4.167% 4/25/44β#, β’ | Β | βββ675,450 | β βββ578,550 |
Series 2017-5 B2 144A 3.779% 8/25/47β#, β’ | Β | β1,625,168 | β β1,391,987 |
Series 2017-6 B2 144A 3.721% 9/25/47β#, β’ | Β | β1,638,027 | β β1,434,846 |
Series 2017-7 B2 144A 3.724% 10/25/47β#, β’ | Β | β1,635,569 | ββ1,389,004 |
Total Non-Agency Collateralized Mortgage Obligationsβ(cost $19,929,027) | β18,791,135 | ||
Non-Agency Commercial Mortgage-Backed Securities β 2.74% | |||
BANK | Β | Β | Β |
Series 2020-BN28 B 2.344% 3/15/63β | Β | βββ160,000 | β βββ108,679 |
Series 2022-BNK39 B 3.239% 2/15/55ββ’ | Β | β1,200,000 | β βββ832,589 |
Series 2022-BNK40 B 3.393% 3/15/64ββ’ | Β | βββ410,000 | β βββ292,036 |
Benchmark Mortgage Trust | Β | Β | Β |
Series 2020-B21 C 3.345% 12/17/53ββ’ | Β | β1,000,000 | β βββ642,263 |
Series 2020-B22 A5 1.973% 1/15/54β | Β | β1,500,000 | β β1,116,750 |
DBJPM Mortgage Trust Series 2020-C9 B 2.567% 8/15/53 | Β | βββ737,000 | β βββ512,706 |
GS Mortgage Securities Trust | Β | Β | Β |
Series 2017-GS6 B 3.869% 5/10/50β | Β | βββ500,000 | β βββ403,618 |
Series 2018-GS9 B 4.321% 3/10/51ββ’ | Β | βββ280,000 | β βββ241,707 |
Series 2020-GC47 B 3.454% 5/12/53ββ’ | Β | β1,840,000 | β β1,364,582 |
JPMorgan Chase Commercial Mortgage Securities Trust Series 2013-LC11 B 3.499% 4/15/46 | Β | βββ130,000 | ββββ109,363 |
Total Non-Agency Commercial Mortgage-Backed Securitiesβ(cost $6,658,827) | ββ5,624,293 | ||
10Β Β Β Β NQ- DD [1023] 1223 (3265778)
(Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Loan Agreements β 1.76% | |||
Applied Systems 2nd Lien 12.14% (SOFR03M + 6.75%) 9/17/27ββ’ | Β | βββ451,630 | $ββββ454,641 |
AssuredPartners 8.939% (SOFR01M + 3.61%) 2/12/27ββ’ | Β | βββ445,986 | β βββ442,874 |
Connect US Finco 8.824% (SOFR01M + 3.50%) 12/11/26ββ’ | Β | βββ275,025 | β βββ268,837 |
Foresight Energy Operating Tranche A 13.49% (SOFR03M + 8.10%) 6/30/27ββ’ | Β | βββ285,306 | β βββ278,174 |
Frontier Communications Tranche B 9.189% (SOFR01M + 3.86%) 10/8/27ββ’ | Β | βββ682,500 | β βββ660,034 |
Hamilton Projects Acquiror 9.939% (SOFR01M + 4.61%) 6/17/27ββ’ | Β | βββ625,783 | β βββ624,609 |
MLN US HoldCo 1st Lien 12.195% (SOFR03M + 6.80%) 10/18/27ββ’ | Β | β1,413,880 | β βββ408,847 |
MLN US HoldCo Tranche B 14.745% (SOFR03M + 9.35%) 10/18/27ββ’ | Β | βββ427,200 | β ββββ55,536 |
Ultimate Software Group 1st Lien 9.333% (SOFR03M + 3.95%) 5/4/26ββ’ | Β | βββ417,777 | ββββ417,287 |
Total Loan Agreementsβ(cost $4,760,546) | ββ3,610,839 | ||
Sovereign Bonds β 4.47%Ξ | |||
Brazil β 0.30% | |||
Brazilian Government International Bonds | Β | Β | Β |
β 3.75% 9/12/31β | Β | βββ300,000 | β βββ249,599 |
β 4.75% 1/14/50β | Β | βββ550,000 | ββββ369,185 |
Β | ββββ618,784 | ||
Colombia β 0.07% | |||
Colombia Government International Bond 3.125% 4/15/31β | Β | βββ200,000 | ββββ148,557 |
Β | ββββ148,557 | ||
Dominican Republic β 0.25% | |||
Dominican Republic International Bonds | Β | Β | Β |
β 144A 4.50% 1/30/30β# | Β | βββ414,000 | β βββ351,904 |
β 144A 4.875% 9/23/32β# | Β | βββ200,000 | ββββ162,367 |
Β | ββββ514,271 | ||
Indonesia β 0.39% | |||
Indonesia Government International Bond 3.85% 10/15/30β | Β | βββ900,000 | ββββ800,875 |
Β | ββββ800,875 |
NQ- DD [1023] 1223 (3265778)Β Β Β Β 11
Schedule of investments
Delaware Strategic Income Fund Β Β (Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
Sovereign BondsΞβ(continued) | |||
Ivory Coast β 0.31% | |||
Ivory Coast Government International Bond 144A 6.125% 6/15/33β# | Β | βββ784,000 | $ββββ645,269 |
Β | ββββ645,269 | ||
Japan β 0.20% | |||
Japan Government Thirty Year Bond 0.40% 3/20/50β | JPY | 89,550,000 | ββββ414,703 |
Β | ββββ414,703 | ||
Mexico β 0.52% | |||
Mexico Government International Bonds | Β | Β | Β |
β 3.25% 4/16/30β | Β | βββ654,000 | β βββ552,306 |
β 3.50% 2/12/34β | Β | βββ670,000 | ββββ513,273 |
Β | ββ1,065,579 | ||
Peru β 0.64% | |||
Corp Financiera de Desarrollo 144A 2.40% 9/28/27β# | Β | βββ500,000 | β βββ429,073 |
Corp Financiera de Desarrollo 5.25% 7/15/29βΞΌ | Β | βββ200,000 | β βββ196,637 |
Peruvian Government International Bond 2.783% 1/23/31β | Β | βββ850,000 | ββββ682,585 |
Β | ββ1,308,295 | ||
Serbia β 0.14% | |||
Serbia International Bond 144A 2.125% 12/1/30β# | Β | βββ400,000 | ββββ294,701 |
Β | ββββ294,701 | ||
United Kingdom β 1.23% | |||
United Kingdom Gilt 4.50% 6/7/28β | GBP | β2,065,000 | ββ2,514,845 |
Β | ββ2,514,845 | ||
Uzbekistan β 0.42% | |||
Republic of Uzbekistan International Bond 144A 4.75% 2/20/24β# | Β | βββ862,000 | ββββ856,478 |
Β | ββββ856,478 | ||
Total Sovereign Bondsβ(cost $10,522,373) | ββ9,182,357 | ||
US Treasury Obligations β 8.43% | |||
US Treasury Bonds | Β | Β | Β |
3.875% 2/15/43 | Β | β1,770,000 | β β1,472,004 |
3.875% 5/15/43 | Β | β1,940,000 | β β1,611,564 |
4.125% 8/15/53 | Β | β3,945,000 | β β3,375,440 |
US Treasury Notes | Β | Β | Β |
3.375% 5/15/33 | Β | β5,165,000 | β β4,567,797 |
12Β Β Β Β NQ- DD [1023] 1223 (3265778)
(Unaudited)
Β | Β | PrincipalamountΒ° | Value (US $) |
US Treasury Obligationsβ(continued) | |||
US Treasury Notes | Β | Β | Β |
3.875% 8/15/33 | Β | β6,805,000 | $ββ6,264,322 |
Total US Treasury Obligationsβ(cost $18,547,822) | β17,291,127 |
Β | Β | Number of shares | Β |
Common Stocks β 1.29% | |||
Basic Industry β 0.64% | |||
Foresight Energyββ | Β | ββββ42,271 | ββ1,301,934 |
Β | ββ1,301,934 | ||
Consumer Discretionary β 0.16% | |||
Studio City International Holdings ADRββ | Β | ββββ38,272 | ββββ191,360 |
Studio City International Holdings ADRββ | Β | ββββ19,076 | βββββ95,380 |
True Religion Apparelββ | Β | βββββββββ2 | βββββ48,757 |
Β | ββββ335,497 | ||
Financial Services β 0.15% | |||
New Cotaiββ | Β | βββ414,307 | ββββ308,664 |
Β | ββββ308,664 | ||
Materials β 0.00% | |||
Westmoreland Coalββ | Β | βββββββ145 | ββββββββ218 |
Β | ββββββββ218 | ||
Transportation β 0.34% | |||
Grupo Aeromexicoβ=, β | Β | ββββ49,917 | ββββ692,176 |
Β | ββββ692,176 | ||
Total Common Stocksβ(cost $6,152,233) | ββ2,638,489 | ||
Preferred Stock β 0.01% | |||
True Religion Apparel 6.25% β=, Ο | Β | βββββββββ2 | βββββ11,435 |
Total Preferred Stockβ(cost $37,635) | βββββ11,435 | ||
Warrants β 0.01% | |||
California Resources ββ | Β | βββββ1,368 | βββββ24,405 |
Total Warrantsβ(cost $119,109) | βββββ24,405 | ||
NQ- DD [1023] 1223 (3265778)Β Β Β Β 13
Schedule of investments
Delaware Strategic Income Fund Β Β (Unaudited)
Β | Β | Number of shares | Value (US $) |
Short-Term Investments β 0.73% | |||
Money Market Mutual Funds β 0.73% | |||
BlackRock Liquidity FedFund β Institutional Shares (seven-day effective yield 5.24%) | Β | βββ374,535 | $ββββ374,535 |
Fidelity Investments Money Market Government Portfolio β Class I (seven-day effective yield 5.24%) | Β | βββ374,535 | β βββ374,535 |
Goldman Sachs Financial Square Government Fund β Institutional Shares (seven-day effective yield 5.39%) | Β | βββ374,535 | β βββ374,535 |
Morgan Stanley Institutional Liquidity Funds Government Portfolio β Institutional Class (seven-day effective yield 5.25%) | Β | βββ374,535 | ββββ374,535 |
Total Short-Term Investmentsβ(cost $1,498,140) | ββ1,498,140 | ||
Total Value of Securitiesβ98.67% (cost $225,318,898) | Β | Β | 202,457,297 |
Receivables and Other Assets Net of Liabilitiesβ1.33%β | Β | Β | ββ2,729,792 |
Net Assets Applicable to 29,352,302 Shares Outstandingβ100.00% | Β | Β | $205,187,089 |
Β° | 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, 2023, the aggregate value of Rule 144A securities was $130,833,758, which represents 63.76% of the Fund's net assets. |
β’ | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at October 31, 2023. 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. SOFR01M, SOFR03M, 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. |
ΞΌ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at October 31, 2023. Rate will reset at a future date. |
Ο | Perpetual security. Maturity date represents next call date. |
β‘ | Non-income producing security. Security is currently in default. |
Β« | PIK. The first payment of cash and/or principal will be made after October 31, 2023. |
14Β Β Β Β NQ- DD [1023] 1223 (3265778)
(Unaudited)
^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
Ο | Step coupon bond. Stated rate in effect at October 31, 2023 through maturity date. |
Ξ | Securities have been classified by country of risk. |
β | Non-income producing security. |
= | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
Ο | Perpetual security with no stated maturity date. |
β | Includes $931,246 cash collateral held at broker for futures contracts as of October 31, 2023. |
The following forward foreign currency exchange contracts and futures contracts were outstanding at October 31, 2023:
Forward Foreign Currency Exchange Contracts | Β | Β | Β | Β | ||||||
Counterparty | Β | Currency to Receive (Deliver) | Β | In Exchange For | Β | Settlement Date | Β | Unrealized Appreciation | ||
JPMCB | Β | EUR | (730,248) | Β | USD | 794,575 | Β | 11/17/23 | Β | $21,350 |
JPMCB | Β | GBP | (2,100,000) | Β | USD | 2,583,546 | Β | 11/17/23 | Β | 30,840 |
JPMCB | Β | JPY | (66,900,000) | Β | USD | 457,203 | Β | 11/17/23 | Β | 14,598 |
Total Forward Foreign Currency Exchange Contracts | Β | $66,788 |
Futures Contracts Exchange-Traded | |||||||||||||
Contracts to Buy (Sell) | Β | Notional Amount | Β | Notional Cost (Proceeds) | Β | Expiration Date | Β | Value/ Unrealized Appreciation | Β | Value/ Unrealized Depreciation | Β | Variation Margin Due from (Due to) Brokers | |
(2) | Euro-Bobl | Β | $(246,093) | Β | $(248,015) | Β | 12/7/23 | Β | $1,922 | Β | $β | Β | $(283) |
419 | US Treasury 5 yr Notes | Β | 43,775,679 | Β | 44,308,436 | Β | 12/29/23 | Β | β | Β | (532,757) | Β | (30,393) |
42 | US Treasury 10 yr Notes | Β | 4,459,219 | Β | 4,610,247 | Β | 12/19/23 | Β | β | Β | (151,028) | Β | (1,968) |
73 | US Treasury 10 yr Ultra Notes | Β | 7,944,453 | Β | 8,226,340 | Β | 12/19/23 | Β | β | Β | (281,887) | Β | 1,141 |
Total Futures Contracts | Β | $56,897,008 | Β | Β | Β | $1,922 | Β | $(965,672) | Β | $(31,503) |
NQ- DD [1023] 1223 (3265778)Β Β Β Β 15
Schedule of investments
Delaware Strategic Income Fund Β Β (Unaudited)
The use of forward foreign currency exchange contracts and futures contractsΒ involves elements of market risk and risks in excess of the amounts disclosed in the schedule of investments. The forward foreign currency exchange contracts and notional amounts presented above represent the Fund's total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) and variation margin are reflected in the Fund's net assets.
Summary of abbreviations: |
ADR β American Depositary Receipt |
DAC β Designated Activity Company |
FREMF β Freddie Mac Multifamily |
GNMA β Government National Mortgage Association |
GS β Goldman Sachs |
JPMCB β JPMorgan Chase Bank |
JSC β Joint Stock Company |
PIK β Payment-in-kind |
REMIC β Real Estate Mortgage Investment Conduit |
S.F. β Single Family |
SOFR β Secured Overnight Financing Rate |
SOFR01M β Secured Overnight Financing Rate 1 Month |
SOFR03M β Secured Overnight Financing Rate 3 Month |
yr β Year |
Summary of currencies: |
EUR β European Monetary Unit |
GBP β British Pound Sterling |
JPY β Japanese Yen |
USD β US Dollar |
16Β Β Β Β NQ- DD [1023] 1223 (3265778)