Schedule of investments
Delaware Global Equity Fund December 31, 2019 (Unaudited)
Number of Shares | Value (US $) | ||
Common Stock – 98.76%D | |||
Denmark - 4.52% | |||
Novo Nordisk Class B | 280,080 | $ | 16,230,309 |
16,230,309 | |||
France - 18.32% | |||
Air Liquide | 98,910 | 14,001,555 | |
Danone | 232,402 | 19,264,645 | |
Orange † | 599,040 | 8,815,894 | |
Publicis Groupe | 270,780 | 12,258,701 | |
Sodexo | 96,430 | 11,427,688 | |
65,768,483 | |||
Germany - 4.46% | |||
adidas AG | 12,570 | 4,086,113 | |
Fresenius Medical Care AG & Co. | 161,990 | 11,926,973 | |
16,013,086 | |||
Ireland - 1.00% | |||
Kerry Group Class A | 28,670 | 3,572,880 | |
3,572,880 | |||
Japan - 15.17% | |||
Asahi Group Holdings | 153,500 | 7,002,749 | |
Kao | 41,300 | 3,406,222 | |
KDDI | 452,500 | 13,500,959 | |
Kirin Holdings | 138,000 | 3,012,069 | |
Lawson | 97,700 | 5,545,709 | |
Makita | 186,800 | 6,451,115 | |
Secom | 38,400 | 3,426,921 | |
Seven & i Holdings | 330,500 | 12,114,622 | |
54,460,366 | |||
Netherlands - 4.93% | |||
Koninklijke Ahold Delhaize | 707,550 | 17,694,624 | |
17,694,624 | |||
Sweden - 2.72% | |||
Securitas Class B | 566,300 | 9,756,908 | |
9,756,908 | |||
Switzerland - 10.63% | |||
Nestle | 131,090 | 14,192,494 | |
Roche Holding | 51,010 | 16,578,394 | |
Swatch Group | 26,390 | 7,368,230 | |
38,139,118 | |||
United Kingdom - 6.08% | |||
Diageo | 206,880 | 8,770,434 |
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Schedule of investments
Delaware Global Equity Fund (Unaudited)
Number of Shares | Value (US $) | |||
Common StockD(continued) | ||||
United Kingdom(continued) | ||||
G4S | 3,089,420 | $ | 8,921,096 | |
Next | 44,300 | 4,118,147 | ||
21,809,677 | ||||
United States - 30.93% | ||||
Clorox | 56,910 | 8,737,961 | ||
Conagra Brands | 398,810 | 13,655,254 | ||
General Mills | 311,210 | 16,668,408 | ||
Hormel Foods | 202,270 | 9,124,400 | ||
Kimberly-Clark | 125,110 | 17,208,882 | ||
Lamb Weston Holdings | 135,650 | 11,669,970 | ||
Merck & Co. | 159,810 | 14,534,720 | ||
Mondelez International Class A | 84,590 | 4,659,217 | ||
Pfizer | 252,920 | 9,909,406 | ||
Waste Management | 42,640 | 4,859,254 | ||
111,027,472 | ||||
Total Common Stock(cost $334,287,315) | 354,472,923 | |||
Exchange-Traded Fund – 1.41% | ||||
Vanguard S&P 500 ETF | 17,065 | 5,047,827 | ||
Total Exchange-Traded Fund(cost $4,825,715) | 5,047,827 | |||
Total Value of Securities – 100.17% | ||||
(cost $339,113,030) | 359,520,750 | |||
Liabilities Net of Receivables and Other Assets – (0.17%) | (594,150) | |||
Net Assets Applicable to 53,548,928 Shares Outstanding – 100.00% | $ | 358,926,600 | ||
DSecurities have been classified by country of origin. | ||||
† Non-income producing security. | ||||
The following foreign currency exchange contracts were outstanding at Dec. 31, 2019: |
Foreign Currency Exchange Contracts | |||||||||||
Currency to | Settlement | Unrealized | Unrealized | ||||||||
Counterparty | Receive (Deliver) | In Exchange For | Date | Appreciation | Depreciation | ||||||
BNYM | CHF | (88,988) | USD | 91,743 | 1/3/20 | $ | — | $ | (226) | ||
BNYM | DKK | (1,140,857) | USD | 170,229 | 1/2/20 | — | (1,047) | ||||
BNYM | EUR | (257,069) | USD | 287,714 | 1/2/20 | — | (677) | ||||
BNYM | GBP | (150,020) | USD | 196,876 | 1/2/20 | — | (1,853) | ||||
BNYM | GBP | (26,478) | USD | 35,094 | 1/3/20 | 17 | — | ||||
BNYM | JPY | (501,573) | USD | 4,588 | 1/7/20 | — | (29) |
2 NQ-QNV [12/19] 2/20 (1081179)
(Unaudited)
Currency to | Settlement | Unrealized | Unrealized | |||||||
Counterparty | Receive (Deliver) | In Exchange For | Date | Appreciation | Depreciation | |||||
BNYM | SEK | (678,007 | ) | USD 72,575 | 1/3/20 | $ | 176 | $ | — | |
Total Foreign Currency Exchange Contracts | $ | 193 | $ | (3,832) |
The use of foreign currency exchange contracts involves elements of market risk and risks in excess of the amounts
disclosed in the financial statements. The foreign currency exchange contracts presented above represent the Fund’s
total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s
net assets.
Summary of abbreviations: |
AG – Aktiengesellschaft |
BNYM – The Bank of New York Mellon |
CHF – Swiss Franc |
DKK – Danish Krone |
ETF – Exchange-Traded Fund |
EUR – European Monetary Unit |
GBP – British Pound Sterling |
JPY – Japanese Yen |
LLC – Limited Liability Company |
SEK – Swedish Krona |
S&P – Standard & Poor’s Financial Services LLC |
USD – US Dollar |
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