Schedule of investments
Delaware International Fund December 31, 2019 (Unaudited)
Number of Shares | Value (US $) | ||
Common Stock – 98.44%D | |||
Denmark - 6.75% | |||
Novo Nordisk Class B | 494,160 | $ | 28,635,996 |
28,635,996 | |||
France - 25.40% | |||
Air Liquide | 168,820 | 23,897,913 | |
Danone | 336,940 | 27,930,180 | |
Orange † | 1,093,620 | 16,094,482 | |
Publicis Groupe | 458,750 | 20,768,444 | |
Sodexo | 160,620 | 19,034,691 | |
107,725,710 | |||
Germany - 6.66% | |||
adidas AG | 21,750 | 7,070,243 | |
Fresenius Medical Care AG & Co. | 287,760 | 21,187,146 | |
28,257,389 | |||
Ireland - 1.45% | |||
Kerry Group Class A | 49,250 | 6,137,578 | |
6,137,578 | |||
Japan - 21.65% | |||
Asahi Group Holdings | 262,500 | 11,975,385 | |
Kao | 92,500 | 7,628,947 | |
KDDI | 648,700 | 19,354,855 | |
Kirin Holdings | 246,100 | 5,371,523 | |
Lawson | 168,000 | 9,536,122 | |
Makita | 324,300 | 11,199,661 | |
Secom | 68,200 | 6,086,355 | |
Seven & i Holdings | 564,400 | 20,688,328 | |
91,841,176 | |||
Netherlands - 7.17% | |||
Koninklijke Ahold Delhaize | 1,215,530 | 30,398,341 | |
30,398,341 | |||
Sweden - 3.97% | |||
Securitas Class B | 978,460 | 16,858,103 | |
16,858,103 | |||
Switzerland - 15.39% | |||
Nestle | 224,870 | 24,345,612 | |
Roche Holding | 86,870 | 28,232,995 | |
Swatch Group | 45,570 | 12,723,389 | |
65,301,996 | |||
United Kingdom - 10.00% | |||
Diageo | 432,680 | 18,342,959 |
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Schedule of investments
Delaware International Fund (Unaudited)
Number of Shares | Value (US $) | |||
Common StockD(continued) | ||||
United Kingdom(continued) | ||||
G4S | 5,957,260 | $ | 17,202,351 | |
Next | 73,810 | 6,861,409 | ||
42,406,719 | ||||
Total Common Stock(cost $391,091,007) | 417,563,008 | |||
Exchange-Traded Funds – 1.69% | ||||
iShares MSCI EAFE ETF | 5,515 | 382,962 | ||
Vanguard FTSE Developed Markets ETF | 153,960 | 6,783,478 | ||
Total Exchange-Traded Funds(cost $6,689,627) | 7,166,440 | |||
Total Value of Securities – 100.13% | ||||
(cost $397,780,634) | 424,729,448 | |||
Liabilities Net of Receivables and Other Assets – (0.13%) | (548,223) | |||
Net Assets Applicable to 32,362,173 Shares Outstanding – 100.00% | $ | 424,181,225 | ||
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 | DKK | (1,015,831) | USD | 151,573 | 1/2/20 | $ | — | $ | (932) | ||
BNYM | EUR | (96,974) | USD | 108,521 | 1/2/20 | — | (267) | ||||
BNYM | GBP | (201,586) | USD | 264,177 | 1/2/20 | — | (2,861) | ||||
BNYM | GBP | (44,263) | USD | 58,665 | 1/3/20 | 29 | — | ||||
Total Foreign Currency Exchange Contracts | $ | 29 | $ | (4,060) |
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: |
BNYM – The Bank of New York Mellon |
DKK – Danish Krone |
EAFE – Europe Australasia and Far East |
ETF – Exchange-Traded Fund |
EUR – European Monetary Unit |
FTSE – Financial Times Stock Exchange 100 Index |
2 NQ-QRV [12/19] 2/20 (1081242)
(Unaudited)
Summary of abbreviations (continued): |
GBP – British Pound Sterling |
MSCI – Morgan Stanley Capital International |
USD – United States Dollar |
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