Schedule of investments
Delaware Total Return Fund
June 30, 2021 (Unaudited)
Principal amount° | Value (US $) | ||
Agency Mortgage-Backed Securities — 1.94% | |||
Fannie Mae 4.50% 2/1/44 | 89,229 | $97,706 | |
Fannie Mae S.F. 15 yr | |||
2.00% 3/1/36 | 162,408 | 168,155 | |
2.50% 7/1/36 | 259,224 | 271,353 | |
Fannie Mae S.F. 20 yr | |||
2.00% 3/1/41 | 74,567 | 76,123 | |
2.00% 5/1/41 | 282,752 | 287,590 | |
2.50% 1/1/41 | 68,710 | 71,293 | |
3.00% 3/1/33 | 446,567 | 470,292 | |
Fannie Mae S.F. 30 yr | |||
2.00% 11/1/50 | 177,975 | 179,820 | |
2.00% 12/1/50 | 70,454 | 71,184 | |
2.00% 3/1/51 | 79,288 | 80,134 | |
2.00% 3/1/51 | 75,704 | 76,489 | |
2.00% 6/1/51 | 523,919 | 530,650 | |
2.50% 10/1/50 | 196,178 | 205,564 | |
2.50% 2/1/51 | 150,279 | 155,579 | |
2.50% 5/1/51 | 576,778 | 597,120 | |
3.00% 11/1/46 | 390,142 | 412,645 | |
3.00% 3/1/50 | 153,241 | 162,230 | |
3.00% 3/1/50 | 68,781 | 72,329 | |
3.00% 6/1/50 | 48,415 | 50,497 | |
3.00% 7/1/50 | 244,305 | 255,141 | |
3.00% 8/1/50 | 114,941 | 120,082 | |
3.00% 9/1/50 | 242,194 | 252,676 | |
3.00% 5/1/51 | 16,962 | 17,902 | |
3.50% 12/1/47 | 619,013 | 654,722 | |
3.50% 1/1/48 | 419,698 | 444,233 | |
4.00% 3/1/47 | 337,249 | 362,967 | |
4.50% 9/1/40 | 216,576 | 241,592 | |
5.00% 7/1/47 | 125,727 | 143,819 | |
6.00% 5/1/36 | 33,708 | 37,817 | |
6.00% 6/1/37 | 12,802 | 15,171 | |
6.00% 7/1/37 | 15,749 | 18,466 | |
6.00% 8/1/37 | 18,570 | 21,934 | |
6.00% 10/1/40 | 144,633 | 171,064 | |
6.50% 11/1/33 | 84,888 | 95,042 | |
6.50% 6/1/36 | 36,537 | 41,691 | |
7.00% 3/1/32 | 150,277 | 169,223 | |
7.00% 8/1/32 | 85,456 | 88,662 | |
Freddie Mac S.F. 15 yr | |||
1.50% 3/1/36 | 117,955 | 119,672 | |
2.00% 12/1/35 | 122,254 | 126,779 | |
3.00% 3/1/35 | 423,640 | 449,498 | |
Freddie Mac S.F. 20 yr | |||
2.00% 3/1/41 | 86,272 | 88,073 | |
2.50% 6/1/41 | 445,219 | 463,335 | |
3.50% 9/1/35 | 443,855 | 475,938 |
Principal amount° | Value (US $) | ||
Agency Mortgage-Backed Securities (continued) | |||
Freddie Mac S.F. 30 yr | |||
2.00% 12/1/50 | 474,209 | $479,125 | |
4.50% 10/1/40 | 330,356 | 367,446 | |
GNMA II S.F. 30 yr | |||
3.00% 7/20/50 | 210,040 | 219,534 | |
3.00% 5/20/51 | 109,608 | 115,026 | |
Total Agency Mortgage-Backed Securities (cost $10,059,965) | 10,093,383 | ||
Collateralized Debt Obligations — 0.25% | |||
Octagon Investment Partners 144A 1.328% (LIBOR03M + 1.14%) 1/20/30 #, • | 1,000,000 | 1,002,458 | |
Venture 34 CLO Series 2018-34A A 144A 1.414% (LIBOR03M + 1.23%, Floor 1.23%) 10/15/31 #, • | 300,000 | 300,480 | |
Total Collateralized Debt Obligations (cost $1,297,613) | 1,302,938 | ||
Convertible Bonds — 7.99% | |||
Basic Industry — 0.15% | |||
Ivanhoe Mines 144A 2.50% exercise price $7.43, maturity date 4/15/26 # | 649,000 | 800,736 | |
800,736 | |||
Capital Goods — 0.30% | |||
Chart Industries 144A 1.00% exercise price $58.72, maturity date 11/15/24 # | 609,000 | 1,544,196 | |
1,544,196 | |||
Communications — 1.47% | |||
Cable One 144A 1.125% exercise price $2,275.83, maturity date 3/15/28 # | 1,245,000 | 1,272,410 | |
DISH Network 3.375% exercise price $65.18, maturity date 8/15/26 | 1,274,000 | 1,303,302 | |
InterDigital 2.00% exercise price $81.29, maturity date 6/1/24 | 1,337,000 | 1,488,248 |
NQ-QPV [6/21] 8/21 (1751150) 1
Schedule of investments
Delaware Total Return Fund (Unaudited)
Principal amount° | Value (US $) | ||
Convertible Bonds (continued) | |||
Communications (continued) | |||
Liberty Broadband 144A 1.25% exercise price $900.01, maturity date 9/30/50 # | 1,281,000 | $1,295,732 | |
Liberty Latin America 2.00% exercise price $20.65, maturity date 7/15/24 | 685,000 | 701,154 | |
Liberty Media 2.25% exercise price $32.51, maturity date 9/30/46 | 3,465,000 | 1,604,641 | |
7,665,487 | |||
Consumer Cyclical — 0.19% | |||
Cheesecake Factory 0.375% exercise price $78.40, maturity date 6/15/26 | 45,000 | 44,522 | |
Ford Motor 144A 0.00% exercise price $17.49, maturity date 3/15/26 #, ^ | 863,000 | 958,469 | |
1,002,991 | |||
Consumer Non-Cyclical — 2.11% | |||
BioMarin Pharmaceutical 0.599% exercise price $124.67, maturity date 8/1/24 | 940,000 | 976,472 | |
Chefs' Warehouse 1.875% exercise price $44.20, maturity date 12/1/24 | 1,405,000 | 1,471,738 | |
Collegium Pharmaceutical 2.625% exercise price $29.19, maturity date 2/15/26 | 1,025,000 | 1,108,402 | |
FTI Consulting 2.00% exercise price $101.38, maturity date 8/15/23 | 952,000 | 1,363,264 | |
Insulet 0.375% exercise price $226.73, maturity date 9/1/26 | 396,000 | 540,293 | |
Integra LifeSciences Holdings 0.50% exercise price $73.67, maturity date 8/15/25 | 1,376,000 | 1,525,846 |
Principal amount° | Value (US $) | ||
Convertible Bonds (continued) | |||
Consumer Non-Cyclical (continued) | |||
Ionis Pharmaceuticals 0.125% exercise price $83.28, maturity date 12/15/24 | 1,022,000 | $954,920 | |
Jazz Investments I 2.00% exercise price $155.81, maturity date 6/15/26 | 668,000 | 891,780 | |
Neurocrine Biosciences 2.25% exercise price $75.92, maturity date 5/15/24 | 359,000 | 483,537 | |
Paratek Pharmaceuticals 4.75% exercise price $15.90, maturity date 5/1/24 | 1,605,000 | 1,500,193 | |
Repay Holdings 144A 0.00% exercise price $33.60, maturity date 2/1/26 #, ^ | 145,000 | 144,275 | |
10,960,720 | |||
Energy — 0.75% | |||
Cheniere Energy 4.25% exercise price $138.38, maturity date 3/15/45 | 2,592,000 | 2,208,923 | |
Helix Energy Solutions Group 6.75% exercise price $6.97, maturity date 2/15/26 | 1,379,000 | 1,694,239 | |
3,903,162 | |||
Real Estate Investment Trusts — 0.39% | |||
Blackstone Mortgage Trust 4.75% exercise price $36.23, maturity date 3/15/23 | 1,028,000 | 1,057,606 | |
Summit Hotel Properties 1.50% exercise price $11.99, maturity date 2/15/26 | 935,000 | 968,193 | |
2,025,799 | |||
Technology — 1.87% | |||
Coherus Biosciences 1.50% exercise price $19.26, maturity date 4/15/26 | 934,000 | 959,297 | |
Knowles 3.25% exercise price $18.43, maturity date 11/1/21 | 807,000 | 906,342 |
2 NQ-QPV [6/21] 8/21 (1751150)
(Unaudited)
Principal amount° | Value (US $) | ||
Convertible Bonds (continued) | |||
Technology (continued) | |||
Microchip Technology 1.625% exercise price $94.13, maturity date 2/15/27 | 673,000 | $1,501,194 | |
ON Semiconductor 1.625% exercise price $20.72, maturity date 10/15/23 | 819,000 | 1,560,758 | |
Palo Alto Networks 0.75% exercise price $266.35, maturity date 7/1/23 | 981,000 | 1,432,260 | |
Quotient Technology 1.75% exercise price $17.36, maturity date 12/1/22 | 1,422,000 | 1,435,543 | |
Synaptics 0.50% exercise price $72.85, maturity date 6/15/22 | 461,000 | 971,846 | |
Travere Therapeutics 2.50% exercise price $38.80, maturity date 9/15/25 | 1,145,000 | 974,015 | |
9,741,255 | |||
Transportation — 0.46% | |||
Seaspan 144A 3.75% exercise price $13.01, maturity date 12/15/25 # | 1,237,000 | 1,510,377 | |
Spirit Airlines 1.00% exercise price $49.07, maturity date 5/15/26 | 915,000 | 876,662 | |
2,387,039 | |||
Utilities — 0.30% | |||
NextEra Energy Partners 144A 0.357% exercise price $76.10, maturity date 11/15/25 #, ^ | 477,000 | 515,637 | |
NRG Energy 2.75% exercise price $45.54, maturity date 6/1/48 | 889,000 | 1,037,463 | |
1,553,100 | |||
Total Convertible Bonds (cost $36,975,836) | 41,584,485 | ||
Principal amount° | Value (US $) | ||
Corporate Bonds — 15.28% | |||
Banking — 1.29% | |||
Banco Continental 144A 2.75% 12/10/25 # | 200,000 | $197,903 | |
Banco Nacional de Panama 144A 2.50% 8/11/30 # | 205,000 | 198,802 | |
Bank of America | |||
1.898% 7/23/31 μ | 85,000 | 82,712 | |
2.087% 6/14/29 μ | 75,000 | 75,680 | |
2.676% 6/19/41 μ | 110,000 | 106,918 | |
Bank of New York Mellon 4.70% 9/20/25 μ, ψ | 20,000 | 21,875 | |
Barclays 5.20% 5/12/26 | 200,000 | 228,953 | |
BBVA Bancomer 144A 1.875% 9/18/25 # | 200,000 | 202,520 | |
Citigroup 4.00% 12/10/25 μ, ψ | 10,000 | 10,363 | |
Corp. Financiera de Desarrollo 144A 2.40% 9/28/27 # | 200,000 | 196,965 | |
Credit Agricole 144A 2.811% 1/11/41 # | 370,000 | 351,712 | |
Credit Suisse Group 144A 2.593% 9/11/25 #, μ | 250,000 | 260,238 | |
Deutsche Bank 2.222% 9/18/24 μ | 335,000 | 344,178 | |
Development Bank of Kazakhstan 144A 10.95% 5/6/26 # | KZT | 100,000,000 | 236,103 |
Goldman Sachs Group 1.542% 9/10/27 μ | 480,000 | 479,244 | |
JPMorgan Chase & Co. | |||
2.58% 4/22/32 μ | 120,000 | 123,243 | |
3.328% 4/22/52 μ | 15,000 | 16,040 | |
4.023% 12/5/24 μ | 150,000 | 161,971 | |
4.60% 2/1/25 μ, ψ | 30,000 | 31,127 | |
Morgan Stanley | |||
1.593% 5/4/27 μ | 55,000 | 55,413 | |
1.794% 2/13/32 μ | 145,000 | 139,450 | |
3.622% 4/1/31 μ | 20,000 | 22,346 | |
5.00% 11/24/25 | 110,000 | 126,916 | |
5.875% 9/15/26 μ, ψ | 940,000 | 1,079,825 | |
Natwest Group 8.625% 8/15/21 μ, ψ | 560,000 | 565,345 | |
PNC Financial Services Group 2.60% 7/23/26 | 130,000 | 138,681 | |
QNB Finance 2.625% 5/12/25 | 200,000 | 209,595 |
NQ-QPV [6/21] 8/21 (1751150) 3
Schedule of investments
Delaware Total Return Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Banking (continued) | |||
SVB Financial Group | |||
1.80% 2/2/31 | 15,000 | $14,371 | |
4.00% 5/15/26 μ, ψ | 285,000 | 290,785 | |
4.10% 2/15/31 μ, ψ | 40,000 | 40,600 | |
Truist Bank 2.636% 9/17/29 μ | 275,000 | 288,293 | |
Truist Financial | |||
1.887% 6/7/29 μ | 20,000 | 20,080 | |
4.95% 9/1/25 μ, ψ | 30,000 | 33,030 | |
US Bancorp | |||
1.45% 5/12/25 | 30,000 | 30,695 | |
3.00% 7/30/29 | 290,000 | 314,478 | |
Wells Fargo & Co. 3.90% 3/15/26 μ, ψ | 40,000 | 41,437 | |
6,737,887 | |||
Basic Industry — 1.46% | |||
AngloGold Ashanti Holdings 3.75% 10/1/30 | 200,000 | 207,156 | |
Avient 144A 5.75% 5/15/25 # | 204,000 | 215,871 | |
Boise Cascade 144A 4.875% 7/1/30 # | 329,000 | 350,237 | |
Chemours | |||
144A 5.75% 11/15/28 # | 365,000 | 390,922 | |
7.00% 5/15/25 | 121,000 | 125,027 | |
Corp Nacional del Cobre de Chile 144A 3.15% 1/14/30 # | 657,000 | 690,400 | |
CSN Inova Ventures 144A 6.75% 1/28/28 # | 200,000 | 221,450 | |
First Quantum Minerals | |||
144A 7.25% 4/1/23 # | 360,000 | 367,427 | |
144A 7.50% 4/1/25 # | 365,000 | 379,649 | |
Freeport-McMoRan 5.45% 3/15/43 | 390,000 | 477,227 | |
Georgia-Pacific | |||
144A 1.75% 9/30/25 # | 20,000 | 20,527 | |
144A 2.10% 4/30/27 # | 145,000 | 149,712 | |
144A 2.30% 4/30/30 # | 35,000 | 35,804 | |
INEOS Quattro Finance 2 144A 3.375% 1/15/26 # | 400,000 | 405,792 |
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Basic Industry (continued) | |||
International Flavors & Fragrances 144A 1.832% 10/15/27 # | 240,000 | $239,545 | |
Koppers 144A 6.00% 2/15/25 # | 50,000 | 51,776 | |
LyondellBasell Industries 4.625% 2/26/55 | 295,000 | 356,415 | |
New Gold 144A 7.50% 7/15/27 # | 310,000 | 336,738 | |
Newmont | |||
2.25% 10/1/30 | 140,000 | 139,743 | |
2.80% 10/1/29 | 100,000 | 105,614 | |
NOVA Chemicals 144A 4.25% 5/15/29 # | 315,000 | 318,571 | |
OCP 144A 3.75% 6/23/31 # | 200,000 | 202,450 | |
Olin 5.125% 9/15/27 | 785,000 | 817,970 | |
PowerTeam Services 144A 9.033% 12/4/25 # | 730,000 | 803,913 | |
Vale Overseas 3.75% 7/8/30 | 193,000 | 205,728 | |
7,615,664 | |||
Brokerage — 0.10% | |||
Banco BTG Pactual 144A 2.75% 1/11/26 # | 200,000 | 195,152 | |
Charles Schwab | |||
4.00% 6/1/26 μ, ψ | 15,000 | 15,675 | |
5.375% 6/1/25 μ, ψ | 25,000 | 27,695 | |
Jefferies Group 4.15% 1/23/30 | 230,000 | 258,216 | |
496,738 | |||
Capital Goods — 0.54% | |||
Ardagh Packaging Finance 144A 5.25% 8/15/27 # | 325,000 | 331,932 | |
Intertape Polymer Group 144A 4.375% 6/15/29 # | 330,000 | 335,059 | |
Madison IAQ 144A 5.875% 6/30/29 # | 250,000 | 254,688 | |
Teledyne Technologies | |||
2.25% 4/1/28 | 30,000 | 30,567 | |
2.75% 4/1/31 | 310,000 | 318,686 | |
Terex 144A 5.00% 5/15/29 # | 360,000 | 375,750 | |
TK Elevator US Newco 144A 5.25% 7/15/27 # | 760,000 | 801,800 |
4 NQ-QPV [6/21] 8/21 (1751150)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Capital Goods (continued) | |||
TransDigm 144A 6.25% 3/15/26 # | 365,000 | $385,531 | |
2,834,013 | |||
Communications — 1.45% | |||
Altice Financing 144A 5.00% 1/15/28 # | 200,000 | 196,597 | |
Altice France Holding 144A 6.00% 2/15/28 # | 770,000 | 767,829 | |
AT&T | |||
3.10% 2/1/43 | 131,000 | 128,621 | |
3.50% 6/1/41 | 84,000 | 87,412 | |
144A 3.50% 9/15/53 # | 140,000 | 140,866 | |
Charter Communications Operating 4.40% 12/1/61 | 125,000 | 134,572 | |
Comcast 3.20% 7/15/36 | 315,000 | 338,860 | |
Consolidated Communications | |||
144A 5.00% 10/1/28 # | 150,000 | 152,363 | |
144A 6.50% 10/1/28 # | 150,000 | 161,663 | |
Discovery Communications 4.00% 9/15/55 | 20,000 | 21,208 | |
Frontier Communications 144A 5.875% 10/15/27 # | 355,000 | 380,737 | |
Level 3 Financing 144A 4.25% 7/1/28 # | 320,000 | 325,149 | |
Millicom International Cellular 144A 4.50% 4/27/31 # | 200,000 | 207,275 | |
Ooredoo International Finance 144A 5.00% 10/19/25 # | 267,000 | 307,911 | |
Sprint 7.125% 6/15/24 | 700,000 | 808,500 | |
Time Warner Cable 7.30% 7/1/38 | 110,000 | 160,850 | |
Time Warner Entertainment 8.375% 3/15/23 | 55,000 | 62,179 |
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Communications (continued) | |||
T-Mobile USA | |||
1.50% 2/15/26 | 15,000 | $15,158 | |
2.55% 2/15/31 | 180,000 | 182,520 | |
2.625% 4/15/26 | 170,000 | 174,247 | |
3.00% 2/15/41 | 75,000 | 74,263 | |
3.375% 4/15/29 | 170,000 | 175,852 | |
3.50% 4/15/25 | 20,000 | 21,731 | |
3.75% 4/15/27 | 20,000 | 22,148 | |
Verizon Communications | |||
2.10% 3/22/28 | 10,000 | 10,216 | |
2.55% 3/21/31 | 15,000 | 15,343 | |
3.40% 3/22/41 | 15,000 | 15,887 | |
3.55% 3/22/51 | 15,000 | 16,048 | |
4.50% 8/10/33 | 245,000 | 293,124 | |
ViacomCBS | |||
4.375% 3/15/43 | 270,000 | 313,164 | |
4.95% 1/15/31 | 15,000 | 18,098 | |
Vodafone Group | |||
4.25% 9/17/50 | 115,000 | 134,568 | |
4.875% 6/19/49 | 130,000 | 164,271 | |
Zayo Group Holdings | |||
144A 4.00% 3/1/27 # | 745,000 | 740,806 | |
144A 6.125% 3/1/28 # | 750,000 | 766,980 | |
7,537,016 | |||
Consumer Cyclical — 1.88% | |||
Allison Transmission 144A 5.875% 6/1/29 # | 565,000 | 619,805 | |
Caesars Entertainment 144A 6.25% 7/1/25 # | 580,000 | 615,525 | |
Carnival | |||
144A 5.75% 3/1/27 # | 440,000 | 461,450 | |
144A 7.625% 3/1/26 # | 425,000 | 462,187 | |
Ford Motor 9.00% 4/22/25 | 345,000 | 425,780 | |
Ford Motor Credit | |||
2.90% 2/16/28 | 350,000 | 348,780 | |
3.375% 11/13/25 | 535,000 | 555,437 | |
4.542% 8/1/26 | 570,000 | 621,499 | |
General Motors | |||
5.40% 10/2/23 | 15,000 | 16,526 | |
6.125% 10/1/25 | 15,000 | 17,767 |
NQ-QPV [6/21] 8/21 (1751150) 5
Schedule of investments
Delaware Total Return Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Consumer Cyclical (continued) | |||
General Motors Financial | |||
2.35% 1/8/31 | 10,000 | $9,877 | |
4.35% 4/9/25 | 75,000 | 82,934 | |
5.20% 3/20/23 | 25,000 | 26,927 | |
5.25% 3/1/26 | 165,000 | 190,665 | |
Hilton Worldwide Finance 4.875% 4/1/27 | 965,000 | 1,008,666 | |
Hutama Karya Persero 144A 3.75% 5/11/30 # | 400,000 | 430,123 | |
Jaguar Land Rover Automotive 144A 5.875% 1/15/28 # | 200,000 | 211,123 | |
L Brands | |||
6.875% 11/1/35 | 345,000 | 437,287 | |
6.95% 3/1/33 | 234,000 | 284,624 | |
Legends Hospitality Holding 144A 5.00% 2/1/26 # | 210,000 | 219,188 | |
Levi Strauss & Co. 144A 3.50% 3/1/31 # | 298,000 | 297,181 | |
MGM Resorts International 4.75% 10/15/28 | 150,000 | 159,675 | |
Murphy Oil USA 144A 3.75% 2/15/31 # | 315,000 | 311,787 | |
Royal Caribbean Cruises 144A 5.50% 4/1/28 # | 450,000 | 471,847 | |
Scientific Games International 144A 8.25% 3/15/26 # | 292,000 | 313,529 | |
Six Flags Entertainment 144A 4.875% 7/31/24 # | 210,000 | 212,363 | |
Wyndham Hotels & Resorts 144A 4.375% 8/15/28 # | 892,000 | 928,795 | |
Wynn Las Vegas 144A 5.50% 3/1/25 # | 50,000 | 53,965 | |
9,795,312 | |||
Consumer Non-Cyclical — 0.88% | |||
AbbVie | |||
2.60% 11/21/24 | 30,000 | 31,646 | |
2.95% 11/21/26 | 25,000 | 26,891 | |
4.05% 11/21/39 | 10,000 | 11,631 | |
4.25% 11/21/49 | 30,000 | 36,013 |
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Consumer Non-Cyclical (continued) | |||
Anheuser-Busch InBev Worldwide | |||
3.65% 2/1/26 | 145,000 | $160,220 | |
4.50% 6/1/50 | 130,000 | 158,476 | |
4.70% 2/1/36 | 25,000 | 30,710 | |
Auna 144A 6.50% 11/20/25 # | 200,000 | 207,227 | |
BAT Capital 2.259% 3/25/28 | 40,000 | 39,743 | |
BAT International Finance 1.668% 3/25/26 | 55,000 | 55,012 | |
Biogen 3.15% 5/1/50 | 365,000 | 359,244 | |
Bristol-Myers Squibb 2.35% 11/13/40 | 245,000 | 236,332 | |
Bunge Finance 2.75% 5/14/31 | 345,000 | 349,045 | |
CVS Health | |||
3.25% 8/15/29 | 280,000 | 304,208 | |
3.75% 4/1/30 | 15,000 | 16,808 | |
4.30% 3/25/28 | 6,000 | 6,898 | |
Gilead Sciences 4.15% 3/1/47 | 30,000 | 35,419 | |
JBS USA LUX 144A 6.50% 4/15/29 # | 397,000 | 446,639 | |
Kraft Heinz Foods 5.20% 7/15/45 | 225,000 | 279,847 | |
Post Holdings | |||
144A 5.50% 12/15/29 # | 1,188,000 | 1,276,726 | |
144A 5.75% 3/1/27 # | 175,000 | 183,312 | |
Regeneron Pharmaceuticals 1.75% 9/15/30 | 15,000 | 14,232 | |
Royalty Pharma 144A 1.75% 9/2/27 # | 190,000 | 187,137 | |
Viatris | |||
144A 1.65% 6/22/25 # | 5,000 | 5,063 | |
144A 2.30% 6/22/27 # | 5,000 | 5,109 | |
144A 2.70% 6/22/30 # | 115,000 | 116,379 | |
144A 4.00% 6/22/50 # | 10,000 | 10,594 | |
4,590,561 | |||
Electric — 0.11% | |||
CenterPoint Energy 1.45% 6/1/26 | 345,000 | 345,462 |
6 NQ-QPV [6/21] 8/21 (1751150)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Electric (continued) | |||
Oryx Funding 144A 5.80% 2/3/31 # | 200,000 | $211,656 | |
557,118 | |||
Energy — 2.22% | |||
Apache | |||
4.75% 4/15/43 | 217,000 | 226,093 | |
4.875% 11/15/27 | 165,000 | 178,925 | |
Ascent Resources Utica Holdings | |||
144A 5.875% 6/30/29 # | 275,000 | 275,344 | |
144A 7.00% 11/1/26 # | 130,000 | 136,451 | |
BP Capital Markets America 3.06% 6/17/41 | 370,000 | 373,616 | |
CNX Resources | |||
144A 6.00% 1/15/29 # | 350,000 | 378,915 | |
144A 7.25% 3/14/27 # | 165,000 | 177,040 | |
Crestwood Midstream Partners | |||
144A 5.625% 5/1/27 # | 91,000 | 93,657 | |
144A 6.00% 2/1/29 # | 236,000 | 247,505 | |
DCP Midstream Operating 5.125% 5/15/29 | 330,000 | 365,125 | |
Energy Transfer | |||
5.25% 4/15/29 | 85,000 | 100,480 | |
6.25% 4/15/49 | 55,000 | 72,295 | |
6.50% 11/15/26 μ, ψ | 15,000 | 15,330 | |
Enterprise Products Operating 3.20% 2/15/52 | 360,000 | 357,963 | |
EQM Midstream Partners | |||
144A 4.75% 1/15/31 # | 205,000 | 211,496 | |
144A 6.50% 7/1/27 # | 405,000 | 452,758 | |
Equinor 1.75% 1/22/26 | 15,000 | 15,455 | |
Genesis Energy | |||
7.75% 2/1/28 | 480,000 | 496,704 | |
8.00% 1/15/27 | 330,000 | 347,119 | |
KazTransGas JSC 144A 4.375% 9/26/27 # | 579,000 | 644,311 | |
Kinder Morgan 3.60% 2/15/51 | 20,000 | 20,420 |
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Energy (continued) | |||
Lukoil Securities 144A 3.875% 5/6/30 # | 265,000 | $280,479 | |
Marathon Oil 4.40% 7/15/27 | 285,000 | 323,117 | |
MPLX | |||
1.75% 3/1/26 | 15,000 | 15,170 | |
4.125% 3/1/27 | 290,000 | 324,282 | |
Murphy Oil 6.375% 7/15/28 | 545,000 | 575,357 | |
NuStar Logistics 5.625% 4/28/27 | 285,000 | 306,153 | |
Occidental Petroleum | |||
3.00% 2/15/27 | 175,000 | 173,935 | |
3.40% 4/15/26 | 165,000 | 169,175 | |
3.50% 8/15/29 | 175,000 | 175,861 | |
6.125% 1/1/31 | 295,000 | 347,445 | |
6.45% 9/15/36 | 140,000 | 167,567 | |
6.625% 9/1/30 | 280,000 | 336,350 | |
PDC Energy 5.75% 5/15/26 | 390,000 | 407,913 | |
PTTEP Treasury Center 144A 2.587% 6/10/27 # | 200,000 | 207,686 | |
Qatar Petroleum 144A 2.25% 7/12/31 # | 200,000 | 197,874 | |
Sabine Pass Liquefaction | |||
5.625% 3/1/25 | 40,000 | 45,750 | |
5.75% 5/15/24 | 275,000 | 308,760 | |
Southwestern Energy 7.75% 10/1/27 | 329,000 | 357,375 | |
Targa Resources Partners 5.375% 2/1/27 | 310,000 | 323,739 | |
TechnipFMC 144A 6.50% 2/1/26 # | 620,000 | 669,617 | |
Tengizchevroil Finance Co International 144A 2.625% 8/15/25 # | 200,000 | 205,581 | |
Tennessee Gas Pipeline 144A 2.90% 3/1/30 # | 250,000 | 259,604 | |
Western Midstream Operating 4.75% 8/15/28 | 155,000 | 167,949 | |
11,533,741 | |||
Financials — 0.59% | |||
AerCap Global Aviation Trust 144A 6.50% 6/15/45 #, μ | 425,000 | 454,722 | |
AerCap Ireland Capital DAC 4.45% 4/3/26 | 195,000 | 214,241 |
NQ-QPV [6/21] 8/21 (1751150) 7
Schedule of investments
Delaware Total Return Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Financials (continued) | |||
Air Lease | |||
2.875% 1/15/26 | 195,000 | $205,042 | |
3.00% 2/1/30 | 45,000 | 45,692 | |
3.375% 7/1/25 | 15,000 | 16,125 | |
Ally Financial | |||
4.70% 5/15/26 μ, ψ | 320,000 | 332,224 | |
8.00% 11/1/31 | 50,000 | 71,914 | |
Avolon Holdings Funding | |||
144A 3.25% 2/15/27 # | 10,000 | 10,324 | |
144A 3.95% 7/1/24 # | 75,000 | 80,029 | |
Banco del Estado de Chile 144A 2.704% 1/9/25 # | 280,000 | 291,903 | |
Bank of Georgia 144A 6.00% 7/26/23 # | 255,000 | 273,513 | |
DAE Sukuk DIFC 144A 3.75% 2/15/26 # | 419,000 | 444,593 | |
Hightower Holding 144A 6.75% 4/15/29 # | 190,000 | 194,180 | |
Midcap Financial Issuer Trust | |||
144A 5.625% 1/15/30 # | 200,000 | 201,022 | |
144A 6.50% 5/1/28 # | 200,000 | 209,558 | |
3,045,082 | |||
Healthcare — 0.92% | |||
Bausch Health 144A 6.25% 2/15/29 # | 540,000 | 534,762 | |
Centene | |||
3.375% 2/15/30 | 530,000 | 554,738 | |
4.625% 12/15/29 | 360,000 | 396,367 | |
CHS | |||
144A 4.75% 2/15/31 # | 145,000 | 145,725 | |
144A 6.625% 2/15/25 # | 305,000 | 322,916 | |
DaVita 144A 4.625% 6/1/30 # | 275,000 | 283,104 | |
Hadrian Merger Sub 144A 8.50% 5/1/26 # | 410,000 | 428,723 | |
HCA | |||
5.375% 2/1/25 | 595,000 | 671,904 | |
5.875% 2/1/29 | 350,000 | 423,673 | |
Hill-Rom Holdings 144A 4.375% 9/15/27 # | 400,000 | 415,366 |
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Healthcare (continued) | |||
Ortho-Clinical Diagnostics 144A 7.25% 2/1/28 # | 165,000 | $180,551 | |
Tenet Healthcare 144A 6.125% 10/1/28 # | 420,000 | 448,766 | |
4,806,595 | |||
Insurance — 0.38% | |||
Athene Holding 3.95% 5/25/51 | 340,000 | 365,379 | |
Brighthouse Financial 5.625% 5/15/30 | 15,000 | 18,272 | |
GTCR AP Finance 144A 8.00% 5/15/27 # | 16,000 | 17,096 | |
HUB International 144A 7.00% 5/1/26 # | 725,000 | 753,688 | |
USI 144A 6.875% 5/1/25 # | 825,000 | 837,800 | |
1,992,235 | |||
Media — 1.01% | |||
AMC Networks | |||
4.25% 2/15/29 | 930,000 | 939,300 | |
5.00% 4/1/24 | 40,000 | 40,623 | |
CCO Holdings | |||
4.50% 5/1/32 | 90,000 | 93,574 | |
144A 5.375% 6/1/29 # | 475,000 | 519,816 | |
Clear Channel Outdoor Holdings 144A 7.50% 6/1/29 # | 185,000 | 191,768 | |
CSC Holdings | |||
144A 3.375% 2/15/31 # | 700,000 | 662,368 | |
144A 5.00% 11/15/31 # | 280,000 | 281,722 | |
Gray Television | |||
144A 4.75% 10/15/30 # | 175,000 | 174,612 | |
144A 7.00% 5/15/27 # | 600,000 | 650,706 | |
Nielsen Finance | |||
144A 4.50% 7/15/29 # | 75,000 | 75,304 | |
144A 4.75% 7/15/31 # | 260,000 | 260,975 | |
Sinclair Television Group 144A 5.125% 2/15/27 # | 565,000 | 568,249 | |
Sirius XM Radio 144A 4.00% 7/15/28 # | 460,000 | 474,375 |
8 NQ-QPV [6/21] 8/21 (1751150)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Media (continued) | |||
Terrier Media Buyer 144A 8.875% 12/15/27 # | 280,000 | $303,468 | |
5,236,860 | |||
Real Estate Investment Trusts — 0.25% | |||
Crown Castle International 1.05% 7/15/26 | 350,000 | 342,159 | |
CubeSmart 3.00% 2/15/30 | 149,000 | 156,324 | |
Iron Mountain 144A 5.25% 3/15/28 # | 530,000 | 555,731 | |
MGM Growth Properties Operating Partnership | |||
144A 3.875% 2/15/29 # | 165,000 | 168,001 | |
5.75% 2/1/27 | 50,000 | 55,709 | |
1,277,924 | |||
Services — 0.28% | |||
GFL Environmental 144A 3.75% 8/1/25 # | 143,000 | 147,111 | |
H&E Equipment Services 144A 3.875% 12/15/28 # | 200,000 | 197,050 | |
Prime Security Services Borrower 144A 5.75% 4/15/26 # | 413,000 | 457,315 | |
United Rentals North America 5.25% 1/15/30 | 305,000 | 334,500 | |
Univar Solutions USA 144A 5.125% 12/1/27 # | 320,000 | 337,443 | |
1,473,419 | |||
Technology — 0.83% | |||
Broadcom | |||
3.15% 11/15/25 | 4,000 | 4,290 | |
144A 3.419% 4/15/33 # | 11,000 | 11,564 | |
144A 3.469% 4/15/34 # | 420,000 | 444,688 | |
Fidelity National Information Services 1.65% 3/1/28 | 350,000 | 348,395 | |
Fiserv 3.20% 7/1/26 | 315,000 | 341,178 | |
Global Payments 2.65% 2/15/25 | 147,000 | 155,008 | |
Go Daddy Operating 144A 3.50% 3/1/29 # | 325,000 | 323,537 |
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Technology (continued) | |||
Microchip Technology 144A 0.972% 2/15/24 # | 345,000 | $344,972 | |
MSCI 144A 3.625% 11/1/31 # | 280,000 | 287,566 | |
NXP | |||
144A 3.25% 5/11/41 # | 25,000 | 25,744 | |
144A 4.875% 3/1/24 # | 285,000 | 313,912 | |
Oracle | |||
2.875% 3/25/31 | 290,000 | 301,863 | |
2.95% 4/1/30 | 30,000 | 31,628 | |
3.65% 3/25/41 | 15,000 | 15,930 | |
SS&C Technologies 144A 5.50% 9/30/27 # | 1,100,000 | 1,168,337 | |
StoneCo 144A 3.95% 6/16/28 # | 200,000 | 199,804 | |
4,318,416 | |||
Transportation — 0.34% | |||
Delta Air Lines 7.375% 1/15/26 | 656,000 | 770,227 | |
Mileage Plus Holdings 144A 6.50% 6/20/27 # | 375,000 | 413,344 | |
Rutas 2 and 7 Finance 144A 3.241% 9/30/36 #, ^ | 302,000 | 219,456 | |
Southwest Airlines 5.125% 6/15/27 | 35,000 | 41,199 | |
United Airlines | |||
144A 4.375% 4/15/26 # | 110,000 | 114,007 | |
144A 4.625% 4/15/29 # | 135,000 | 139,894 | |
VistaJet Malta Finance 144A 10.50% 6/1/24 # | 80,000 | 87,316 | |
1,785,443 | |||
Utilities — 0.75% | |||
Calpine | |||
144A 4.50% 2/15/28 # | 135,000 | 137,869 | |
144A 5.00% 2/1/31 # | 310,000 | 309,070 | |
144A 5.25% 6/1/26 # | 200,000 | 206,293 | |
Duke Energy 4.875% 9/16/24 μ, ψ | 320,000 | 340,800 | |
Entergy Mississippi 2.85% 6/1/28 | 90,000 | 96,254 |
NQ-QPV [6/21] 8/21 (1751150) 9
Schedule of investments
Delaware Total Return Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Utilities (continued) | |||
Entergy Texas 3.55% 9/30/49 | 185,000 | $197,961 | |
Evergy Kansas Central 3.45% 4/15/50 | 35,000 | 38,514 | |
Infraestructura Energetica Nova 144A 3.75% 1/14/28 # | 275,000 | 296,490 | |
Mong Duong Finance Holdings 144A 5.125% 5/7/29 # | 749,000 | 752,745 | |
Pacific Gas and Electric | |||
2.10% 8/1/27 | 330,000 | 320,847 | |
2.50% 2/1/31 | 15,000 | 14,080 | |
3.25% 6/1/31 | 5,000 | 4,924 | |
3.30% 8/1/40 | 5,000 | 4,526 | |
PG&E 5.25% 7/1/30 | 335,000 | 339,132 | |
Sempra Energy 4.875% 10/15/25 μ, ψ | 20,000 | 21,750 | |
Southern California Edison | |||
4.00% 4/1/47 | 35,000 | 36,883 | |
4.20% 3/1/29 | 150,000 | 169,403 | |
4.875% 3/1/49 | 90,000 | 106,836 | |
UEP Penonome II 144A 6.50% 10/1/38 # | 197,194 | 202,004 | |
Vistra Operations 144A 4.375% 5/1/29 # | 310,000 | 311,937 | |
3,908,318 | |||
Total Corporate Bonds (cost $77,463,643) | 79,542,342 | ||
Non-Agency Asset-Backed Securities — 0.06% | |||
Diamond Infrastructure Funding Series 2021-1A A 144A 1.76% 4/15/49 # | 150,000 | 149,258 | |
Domino's Pizza Master Issuer Series 2021-1A A2I 144A 2.662% 4/25/51 # | 150,000 | 155,203 | |
Total Non-Agency Asset-Backed Securities (cost $300,000) | 304,461 | ||
Principal amount° | Value (US $) | ||
Non-Agency Commercial Mortgage-Backed Securities — 0.94% | |||
BANK | |||
Series 2019-BN21 A5 2.851% 10/17/52 | 100,000 | $106,831 | |
Series 2020-BN25 A5 2.649% 1/15/63 | 500,000 | 526,211 | |
Benchmark Mortgage Trust | |||
Series 2020-B17 A5 2.289% 3/15/53 | 500,000 | 512,061 | |
Series 2020-B20 A5 2.034% 10/15/53 | 400,000 | 400,191 | |
Cantor Commercial Real Estate Lending Series 2019-CF2 A5 2.874% 11/15/52 | 350,000 | 371,268 | |
Citigroup Commercial Mortgage Trust Series 2019-C7 A4 3.102% 12/15/72 | 500,000 | 543,686 | |
GS Mortgage Securities Trust | |||
Series 2017-GS5 A4 3.674% 3/10/50 | 350,000 | 390,893 | |
Series 2017-GS6 A3 3.433% 5/10/50 | 350,000 | 384,553 | |
Series 2019-GC42 A4 3.001% 9/1/52 | 500,000 | 539,881 | |
JPM-DB Commercial Mortgage Securities Trust Series 2017-C7 A5 3.409% 10/15/50 | 350,000 | 385,902 | |
Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C29 A4 3.325% 5/15/49 | 350,000 | 376,843 |
10 NQ-QPV [6/21] 8/21 (1751150)
(Unaudited)
Principal amount° | Value (US $) | ||
Non-Agency Commercial Mortgage-Backed Securities (continued) | |||
Wells Fargo Commercial Mortgage Trust Series 2016-BNK1 A3 2.652% 8/15/49 | 350,000 | $370,390 | |
Total Non-Agency Commercial Mortgage-Backed Securities (cost $4,858,749) | 4,908,710 | ||
Sovereign Bonds — 2.03% | |||
Armenia — 0.04% | |||
Republic of Armenia International Bond | |||
144A 3.60% 2/2/31 # | 200,000 | 189,626 | |
189,626 | |||
Colombia — 0.08% | |||
Colombian | |||
7.00% 6/30/32 | COP | 1,635,100,000 | 425,230 |
425,230 | |||
Dominican Republic — 0.18% | |||
Dominican Republic International Bond | |||
144A 4.50% 1/30/30 # | 913,000 | 935,834 | |
935,834 | |||
Egypt — 0.13% | |||
Egypt Government International Bonds | |||
144A 5.75% 5/29/24 # | 425,000 | 453,475 | |
7.903% 2/21/48 | 200,000 | 198,554 | |
652,029 | |||
Gabon — 0.04% | |||
Gabon Government International Bond | |||
144A 6.625% 2/6/31 # | 200,000 | 202,007 | |
202,007 | |||
Honduras — 0.04% | |||
Honduras Government International Bond | |||
144A 5.625% 6/24/30 # | 200,000 | 210,300 | |
210,300 | |||
Indonesia — 0.02% | |||
Indonesia Treasury Bond | |||
6.125% 5/15/28 | IDR | 1,768,000,000 | 122,114 |
122,114 |
Principal amount° | Value (US $) | ||
Sovereign Bonds (continued) | |||
Ivory Coast — 0.12% | |||
Ivory Coast Government International Bonds | |||
144A 4.875% 1/30/32 # | EUR | 200,000 | $237,577 |
144A 6.125% 6/15/33 # | 234,000 | 247,565 | |
144A 6.875% 10/17/40 # | EUR | 100,000 | 129,882 |
615,024 | |||
Malaysia — 0.13% | |||
Malaysia Government Bond | |||
3.955% 9/15/25 | MYR | 2,648,000 | 673,484 |
673,484 | |||
Mexico — 0.04% | |||
Mexico Government International Bond | |||
4.50% 4/22/29 | 203,000 | 229,758 | |
229,758 | |||
Mongolia — 0.05% | |||
Mongolia Government International Bond | |||
144A 5.625% 5/1/23 # | 269,000 | 284,804 | |
284,804 | |||
Morocco — 0.12% | |||
Morocco Government International Bonds | |||
144A 1.375% 3/30/26 # | EUR | 270,000 | 325,197 |
144A 2.375% 12/15/27 # | 300,000 | 295,173 | |
620,370 | |||
North Macedonia — 0.03% | |||
North Macedonia Government International Bond | |||
144A 3.675% 6/3/26 # | EUR | 100,000 | 131,019 |
131,019 | |||
Paraguay — 0.16% | |||
Paraguay Government International Bond | |||
144A 4.95% 4/28/31 # | 742,000 | 854,235 | |
854,235 |
NQ-QPV [6/21] 8/21 (1751150) 11
Schedule of investments
Delaware Total Return Fund (Unaudited)
Principal amount° | Value (US $) | ||
Sovereign Bonds (continued) | |||
Peru — 0.10% | |||
Peru Government Bond 6.95% 8/12/31 | PEN | 743,000 | $217,081 |
Peruvian Government International Bond 2.392% 1/23/26 | 300,000 | 310,218 | |
527,299 | |||
Romania — 0.20% | |||
Romania Government Bond 4.15% 1/26/28 | RON | 1,890,000 | 486,146 |
Romanian Government International Bonds | |||
144A 2.625% 12/2/40 # | EUR | 100,000 | 117,799 |
144A 3.00% 2/14/31 # | 426,000 | 442,312 | |
1,046,257 | |||
Senegal — 0.04% | |||
Senegal Government International Bond | |||
144A 6.25% 5/23/33 # | 200,000 | 211,428 | |
211,428 | |||
Serbia — 0.10% | |||
Serbia International Bonds | |||
144A 2.125% 12/1/30 # | 200,000 | 190,000 | |
144A 3.125% 5/15/27 # | EUR | 250,000 | 330,357 |
520,357 | |||
Turkey — 0.04% | |||
Turkiye Ihracat Kredi Bankasi | |||
144A 5.75% 7/6/26 # | 200,000 | 198,700 | |
198,700 | |||
Ukraine — 0.11% | |||
Ukraine Government International Bond | |||
144A 7.75% 9/1/21 # | 561,000 | 566,611 | |
566,611 | |||
Uruguay — 0.18% | |||
Uruguay Government International Bonds | |||
4.375% 1/23/31 | 345,000 | 402,273 | |
4.50% 8/14/24 | 69,000 | 75,086 | |
9.875% 6/20/22 | UYU | 19,415,000 | 458,320 |
935,679 |
Principal amount° | Value (US $) | ||
Sovereign Bonds (continued) | |||
Uzbekistan — 0.08% | |||
Republic of Uzbekistan Bond | |||
144A 4.75% 2/20/24 # | 374,000 | $399,234 | |
399,234 | |||
Total Sovereign Bonds (cost $10,492,863) | 10,551,399 | ||
Supranational Banks — 0.14% | |||
Banque Ouest Africaine de Developpement 144A 4.70% 10/22/31 # | 306,000 | 331,869 | |
Central American Bank For Economic Integration 144A 2.00% 5/6/25 # | 400,000 | 414,320 | |
Total Supranational Banks (cost $705,956) | 746,189 | ||
US Treasury Obligations — 1.73% | |||
US Treasury Bonds | |||
1.875% 2/15/41 | 325,000 | 318,246 | |
2.25% 8/15/46 | 655,000 | 677,464 | |
4.375% 2/15/38 | 645,000 | 888,059 | |
US Treasury Inflation Indexed Note 0.125% 7/15/30 | 593,706 | 655,494 | |
US Treasury Notes | |||
0.25% 6/15/24 | 1,470,000 | 1,461,099 | |
0.875% 6/30/26 | 3,030,000 | 3,028,698 | |
1.25% 6/30/28 | 1,815,000 | 1,817,978 | |
US Treasury Strip Principal 2.341% 5/15/44 ^ | 275,000 | 170,260 | |
Total US Treasury Obligations (cost $8,946,237) | 9,017,298 |
Number of shares | |||
Common Stock — 59.50% | |||
Communication Services — 4.54% | |||
Alphabet Class A † | 289 | 705,677 | |
Alphabet Class C † | 512 | 1,283,236 | |
AT&T | 63,385 | 1,824,220 | |
Comcast Class A | 66,867 | 3,812,757 | |
Facebook Class A † | 3,996 | 1,389,449 | |
KDDI | 39,700 | 1,238,224 | |
Orange | 98,600 | 1,124,137 |
12 NQ-QPV [6/21] 8/21 (1751150)
(Unaudited)
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
Communication Services (continued) | |||
Publicis Groupe | 24,010 | $1,535,664 | |
Take-Two Interactive Software † | 6,164 | 1,091,151 | |
Verizon Communications | 99,184 | 5,557,280 | |
ViacomCBS Class B | 5,853 | 264,556 | |
Walt Disney † | 21,713 | 3,816,494 | |
23,642,845 | |||
Consumer Discretionary — 7.70% | |||
adidas AG † | 4,180 | 1,555,825 | |
Amazon.com † | 1,315 | 4,523,810 | |
Best Buy | 5,928 | 681,601 | |
Buckle | 34,136 | 1,698,266 | |
Dollar General | 18,007 | 3,896,535 | |
Dollar Tree † | 37,300 | 3,711,350 | |
eBay | 14,090 | 989,259 | |
H & M Hennes & Mauritz Class B † | 44,070 | 1,045,350 | |
Home Depot | 7,818 | 2,493,082 | |
L Brands | 12,901 | 929,646 | |
Lowe's | 29,038 | 5,632,501 | |
Newell Brands | 16,541 | 454,381 | |
Next † | 4,350 | 472,723 | |
NIKE Class B | 9,269 | 1,431,968 | |
PulteGroup | 7,299 | 398,306 | |
Ross Stores | 10,494 | 1,301,256 | |
Sodexo † | 15,150 | 1,413,776 | |
Sturm Ruger & Co. | 16,241 | 1,461,365 | |
Swatch Group | 6,270 | 2,150,876 | |
Tesla † | 495 | 336,452 | |
TJX | 21,211 | 1,430,046 | |
Tractor Supply | 8,294 | 1,543,182 | |
Ulta Beauty † | 1,522 | 526,262 | |
40,077,818 | |||
Consumer Staples — 5.44% | |||
Altria Group | 30,256 | 1,442,606 | |
Archer-Daniels-Midland | 57,200 | 3,466,320 | |
Asahi Group Holdings | 18,200 | 850,409 | |
Clorox | 1,835 | 330,135 | |
Colgate-Palmolive | 8,878 | 722,225 | |
Conagra Brands | 100,800 | 3,667,104 | |
Danone | 33,840 | 2,382,268 | |
Diageo | 64,550 | 3,090,397 | |
Essity Class B | 31,740 | 1,052,548 | |
Kao | 24,500 | 1,507,336 | |
Kellogg | 13,856 | 891,356 | |
Kirin Holdings | 21,800 | 425,031 | |
Koninklijke Ahold Delhaize | 58,180 | 1,729,502 | |
Lawson | 15,000 | 694,001 | |
Nestle | 19,700 | 2,453,211 |
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
Consumer Staples (continued) | |||
Philip Morris International | 17,433 | $1,727,785 | |
Seven & i Holdings | 39,400 | 1,878,589 | |
28,310,823 | |||
Energy — 1.68% | |||
Chevron | 4,058 | 425,035 | |
ConocoPhillips | 70,463 | 4,291,197 | |
Exxon Mobil | 33,830 | 2,133,996 | |
Kinder Morgan | 68,128 | 1,241,973 | |
Williams | 25,681 | 681,831 | |
8,774,032 | |||
Financials — 6.50% | |||
AGNC Investment | 57,396 | 969,418 | |
American Financial Group | 4,823 | 601,525 | |
American International Group | 72,600 | 3,455,760 | |
Ameriprise Financial | 3,692 | 918,865 | |
Annaly Capital Management | 96,956 | 860,969 | |
Artisan Partners Asset Management Class A | 23,586 | 1,198,641 | |
BlackRock | 2,040 | 1,784,939 | |
Blackstone Group | 12,746 | 1,238,146 | |
Discover Financial Services | 38,641 | 4,570,844 | |
Invesco | 51,928 | 1,388,035 | |
MetLife | 80,757 | 4,833,307 | |
Principal Financial Group | 21,177 | 1,338,175 | |
Prudential Financial | 11,537 | 1,182,196 | |
S&P Global | 3,489 | 1,432,060 | |
Synchrony Financial | 19,570 | 949,536 | |
Truist Financial | 63,000 | 3,496,500 | |
US Bancorp | 63,600 | 3,623,292 | |
33,842,208 | |||
Healthcare — 8.59% | |||
AbbVie | 16,090 | 1,812,377 | |
AmerisourceBergen | 11,740 | 1,344,113 | |
Amgen | 6,308 | 1,537,575 | |
Cardinal Health | 64,500 | 3,682,305 | |
Cigna | 15,100 | 3,579,757 | |
CVS Health | 45,400 | 3,788,176 | |
Eli Lilly & Co. | 2,686 | 616,491 | |
Fresenius Medical Care AG & Co. | 29,200 | 2,425,058 | |
Humana | 1,555 | 688,430 | |
Johnson & Johnson | 40,415 | 6,657,967 | |
Merck & Co. | 70,931 | 5,516,304 | |
Molina Healthcare † | 2,528 | 639,736 | |
Novo Nordisk Class B | 31,780 | 2,662,501 | |
Organon & Co. † | 2,263 | 68,481 |
NQ-QPV [6/21] 8/21 (1751150) 13
Schedule of investments
Delaware Total Return Fund (Unaudited)
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
Healthcare (continued) | |||
Pfizer | 47,527 | $1,861,157 | |
Roche Holding | 5,970 | 2,248,953 | |
Smith & Nephew | 64,050 | 1,384,381 | |
UnitedHealth Group | 1,661 | 665,131 | |
Viatris | 249,688 | 3,568,041 | |
44,746,934 | |||
Industrials — 3.50% | |||
Caterpillar | 11,839 | 2,576,522 | |
Dover | 6,464 | 973,478 | |
Honeywell International | 16,684 | 3,659,635 | |
Lockheed Martin | 3,521 | 1,332,170 | |
Northrop Grumman | 10,200 | 3,706,986 | |
Raytheon Technologies | 43,632 | 3,722,246 | |
Secom | 5,800 | 440,841 | |
Securitas Class B | 113,410 | 1,790,315 | |
United Parcel Service Class B | 197 | 40,970 | |
18,243,163 | |||
Information Technology — 12.98% | |||
Adobe † | 3,689 | 2,160,426 | |
Amadeus IT Group † | 18,910 | 1,330,105 | |
Apple | 62,222 | 8,521,925 | |
Broadcom | 12,450 | 5,936,658 | |
Cisco Systems | 96,322 | 5,105,066 | |
Cognizant Technology Solutions Class A | 54,245 | 3,757,009 | |
Dropbox Class A † | 46,736 | 1,416,568 | |
Enphase Energy † | 8,043 | 1,476,936 | |
Fidelity National Information Services | 26,081 | 3,694,895 | |
HP | 38,227 | 1,154,073 | |
International Business Machines | 6,479 | 949,757 | |
Lam Research | 2,684 | 1,746,479 | |
Maxim Integrated Products | 10,619 | 1,118,818 | |
Microsoft | 28,127 | 7,619,604 | |
Monolithic Power Systems | 3,422 | 1,277,946 | |
Motorola Solutions | 17,106 | 3,709,436 | |
NetApp | 19,332 | 1,581,744 | |
NVIDIA | 2,705 | 2,164,270 | |
Oracle | 46,600 | 3,627,344 | |
Paychex | 11,415 | 1,224,829 | |
Paycom Software † | 3,005 | 1,092,227 | |
QUALCOMM | 11,505 | 1,644,410 | |
SAP | 12,590 | 1,774,114 | |
TE Connectivity | 6,366 | 860,747 | |
Western Union | 49,703 | 1,141,678 |
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
Information Technology (continued) | |||
Xilinx | 10,151 | $1,468,241 | |
67,555,305 | |||
Materials — 1.36% | |||
Air Liquide | 12,530 | 2,193,850 | |
Dow | 21,921 | 1,387,161 | |
DuPont de Nemours | 45,500 | 3,522,155 | |
7,103,166 | |||
REIT Diversified — 0.07% | |||
DigitalBridge Group † | 12,768 | 100,867 | |
Lexington Realty Trust | 22,369 | 267,310 | |
368,177 | |||
REIT Healthcare — 0.75% | |||
CareTrust REIT | 8,903 | 206,817 | |
Healthcare Trust of America Class A | 12,653 | 337,835 | |
Healthpeak Properties | 8,845 | 294,450 | |
Medical Properties Trust | 46,416 | 932,961 | |
National Health Investors | 930 | 62,356 | |
Omega Healthcare Investors | 26,616 | 965,895 | |
Ventas | 6,328 | 361,329 | |
Welltower | 9,186 | 763,357 | |
3,925,000 | |||
REIT Hotel — 0.34% | |||
Gaming and Leisure Properties | 8,184 | 379,165 | |
Host Hotels & Resorts † | 8,752 | 149,572 | |
VICI Properties | 40,010 | 1,241,110 | |
1,769,847 | |||
REIT Industrial — 0.61% | |||
Americold Realty Trust | 9,122 | 345,268 | |
Duke Realty | 11,193 | 529,988 | |
Prologis | 17,558 | 2,098,708 | |
Terreno Realty | 2,784 | 179,624 | |
3,153,588 | |||
REIT Information Technology — 0.51% | |||
Digital Realty Trust | 5,202 | 782,693 | |
Equinix | 2,162 | 1,735,221 | |
QTS Realty Trust Class A | 1,731 | 133,806 | |
2,651,720 | |||
REIT Mall — 0.39% | |||
Simon Property Group | 15,561 | 2,030,399 | |
2,030,399 | |||
REIT Manufactured Housing — 0.18% | |||
Equity LifeStyle Properties | 5,342 | 396,964 | |
Sun Communities | 3,037 | 520,542 | |
917,506 |
14 NQ-QPV [6/21] 8/21 (1751150)
(Unaudited)
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
REIT Multifamily — 1.48% | |||
American Homes 4 Rent Class A | 6,295 | $244,561 | |
Apartment Income REIT | 3,717 | 176,297 | |
AvalonBay Communities | 3,436 | 717,059 | |
Camden Property Trust | 2,250 | 298,507 | |
Equity Residential | 54,963 | 4,232,151 | |
Essex Property Trust | 2,110 | 633,021 | |
Invitation Homes | 16,495 | 615,099 | |
Mid-America Apartment Communities | 1,687 | 284,124 | |
UDR | 10,309 | 504,935 | |
7,705,754 | |||
REIT Office — 0.34% | |||
Alexandria Real Estate Equities | 3,752 | 682,639 | |
Boston Properties | 4,668 | 534,906 | |
Columbia Property Trust | 1,112 | 19,338 | |
Cousins Properties | 3,415 | 125,604 | |
Douglas Emmett | 3,951 | 132,832 | |
Highwoods Properties | 2,505 | 113,151 | |
SL Green Realty | 1,744 | 139,520 | |
1,747,990 | |||
REIT Self-Storage — 0.73% | |||
CubeSmart | 3,407 | 157,812 | |
Extra Space Storage | 3,888 | 636,932 | |
Iron Mountain | 36,389 | 1,539,983 | |
Life Storage | 3,408 | 365,849 | |
National Storage Affiliates Trust | 3,188 | 161,185 | |
Public Storage | 3,155 | 948,677 | |
3,810,438 | |||
REIT Shopping Center — 0.41% | |||
Brixmor Property Group | 16,478 | 377,182 | |
Kimco Realty | 10,385 | 216,527 | |
Kite Realty Group Trust | 3,929 | 86,477 | |
Regency Centers | 6,937 | 444,454 | |
Retail Opportunity Investments | 12,015 | 212,185 | |
SITE Centers | 18,808 | 283,249 | |
Urban Edge Properties | 13,704 | 261,746 | |
Weingarten Realty Investors | 7,991 | 256,271 | |
2,138,091 | |||
REIT Single Tenant — 0.29% | |||
Essential Properties Realty Trust | 5,677 | 153,506 | |
Four Corners Property Trust | 5,447 | 150,392 | |
National Retail Properties | 5,648 | 264,778 | |
Realty Income | 10,378 | 692,628 |
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
REIT Single Tenant (continued) | |||
Spirit Realty Capital | 4,838 | $231,450 | |
1,492,754 | |||
REIT Specialty — 0.07% | |||
Lamar Advertising Class A | 1,207 | 126,035 | |
Outfront Media † | 2,652 | 63,727 | |
WP Carey | 2,590 | 193,266 | |
383,028 | |||
Utilities — 1.04% | |||
Edison International | 65,000 | 3,758,300 | |
NRG Energy | 35,883 | 1,446,085 | |
PPL | 6,732 | 188,294 | |
5,392,679 | |||
Total Common Stock (cost $265,995,337) | 309,783,265 | ||
Convertible Preferred Stock — 2.35% | |||
2020 Mandatory Exchangeable Trust 144A 6.50% exercise price $47.09, maturity date 5/16/23 # | 756 | 1,357,451 | |
Algonquin Power & Utilities 7.75% exercise price $18.00, maturity date 6/15/24 | 8,826 | 438,281 | |
AMG Capital Trust II 5.15% exercise price $195.47, maturity date 10/15/37 | 12,703 | 741,601 | |
Bank of America 7.25% exercise price $50.00 ** | 826 | 1,169,616 | |
El Paso Energy Capital Trust I 4.75% exercise price $34.49, maturity date 3/31/28 | 41,379 | 2,079,295 | |
Elanco Animal Health 5.00% exercise price $38.40, maturity date 2/1/23 | 15,372 | 824,861 | |
Essential Utilities 6.00% exercise price $42.29, maturity date 4/30/22 | 27,350 | 1,563,873 | |
Lyondellbasell Advanced Polymers 6.00% exercise price $52.33 ** | 1,568 | 1,640,598 |
NQ-QPV [6/21] 8/21 (1751150) 15
Schedule of investments
Delaware Total Return Fund (Unaudited)
Number of shares | Value (US $) | ||
Convertible Preferred Stock (continued) | |||
QTS Realty Trust 6.50% exercise price $46.65 ** | 7,700 | $1,315,083 | |
UGI 7.25% exercise price $52.57, maturity date 6/1/24 | 10,226 | 1,090,092 | |
Total Convertible Preferred Stock (cost $10,861,552) | 12,220,751 | ||
Exchange-Traded Funds — 5.36% | |||
iShares Core MSCI Emerging Markets ETF | 205,980 | 13,798,600 | |
iShares Global Infrastructure ETF | 292,510 | 13,274,104 | |
iShares MSCI EAFE ETF | 1,450 | 114,376 | |
iShares Russell 1000 Growth ETF | 510 | 138,455 | |
iShares Trust iShares ESG Aware MSCI EAFE ETF | 6,490 | 512,905 | |
Vanguard Mega Cap Growth ETF | 230 | 53,217 | |
Total Exchange-Traded Funds (cost $28,498,050) | 27,891,657 |
Principal amount° | |||
Limited Liability Corporation — 1.34% | |||
Sc Hixson Pp 0.000% 1/7/20 =, †, π | 7,200,000 | 6,973,200 | |
Total Limited Liability Corporation (cost $6,858,000) | 6,973,200 |
Number of shares | |||
Short-Term Investments — 0.97% | |||
Money Market Mutual Funds — 0.97% | |||
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.03%) | 1,266,206 | 1,266,206 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.01%) | 1,266,206 | 1,266,206 |
Number of shares | Value (US $) | ||
Short-Term Investments (continued) | |||
Money Market Mutual Funds (continued) | |||
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.02%) | 1,266,206 | $1,266,206 | |
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.00%) | 1,266,206 | 1,266,206 | |
Total Short-Term Investments (cost $5,064,824) | 5,064,824 | ||
Total Value of Securities—99.88% (cost $468,378,625) | 519,984,902 | ||
Receivables and Other Assets Net of Liabilities—0.12% | 622,489 | ||
Net Assets Applicable to 30,176,726 Shares Outstanding—100.00% | $520,607,391 |
° | 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 June 30, 2021, the aggregate value of Rule 144A securities was $63,921,053, which represents 12.28% of the Fund's net assets. |
• | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at June 30, 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. |
^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
μ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at June 30, 2021. Rate will reset at a future date. |
ψ | Perpetual security. Maturity date represents next call date. |
† | Non-income producing security. |
16 NQ-QPV [6/21] 8/21 (1751150)
(Unaudited)
** | Perpetual security with no stated maturity date. |
= | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
π | Restricted security. These investments are in securities not registered under the Securities Act of 1933, as amended, and have certain restrictions on resale which may limit their liquidity. At June 30, 2021, the aggregate value of restricted securities was $6,973,200 which represented percentage of 1.34% of the Fund’s net assets. |
Restricted Securities | ||||||
Investments | Date of Acquisition | Cost | Value | |||
Sc Hixson Pp | 1/7/2020 | $6,858,000 | $6,973,200 |
The following foreign currency exchange contracts, futures contracts and swap contracts were outstanding at June 30, 2021:
Foreign Currency Exchange Contracts | ||||||||||||
Counterparty | Currency to Receive (Deliver) | In Exchange For | Settlement Date | Unrealized Appreciation | Unrealized Depreciation | |||||||
BNYM | EUR | (12,546) | USD | 14,919 | 7/1/21 | $43 | $— | |||||
BNYM | JPY | (1,567,016) | USD | 14,151 | 7/1/21 | 46 | — | |||||
CITI | COP | (1,699,368,000) | USD | 451,086 | 7/30/21 | — | (1,054) | |||||
JPMCB | CNY | 3,588,745 | USD | (549,746) | 7/30/21 | 4,030 | — | |||||
JPMCB | EUR | (1,526,834) | USD | 1,848,396 | 7/30/21 | 36,792 | — | |||||
JPMCB | KZT | 434,625,199 | USD | (994,565) | 7/30/21 | 16,814 | — | |||||
JPMCB | MXN | 20,507 | USD | (1,022) | 7/30/21 | 2 | — | |||||
Total Foreign Currency Exchange Contracts | $57,727 | $(1,054) |
Futures Contracts Exchange-Traded | |||||||||||
Contracts to Buy (Sell) | Notional Amount | Notional Cost (Proceeds) | Expiration Date | Value/ Unrealized Depreciation | Variation Margin Due from (Due to) Brokers | ||||||
(11) | US Treasury 10 yr Notes | $(1,457,500) | $(1,448,965) | 9/21/21 | $(8,535) | $(2,578) | |||||
(4) | US Treasury 10 yr Ultra Notes | (588,812) | (578,490) | 9/21/21 | (10,322) | (1,938) | |||||
(2) | US Treasury Ultra Bonds | (385,375) | (368,729) | 9/21/21 | (16,646) | (2,250) | |||||
Total Futures Contracts | $(2,396,184) | $(35,503) | $(6,766) |
NQ-QPV [6/21] 8/21 (1751150) 17
Schedule of investments
Delaware Total Return Fund (Unaudited)
Swap Contracts
CDS Contracts1 | ||||||||||||
Counterparty/ Reference Obligation/ Termination Date/ Payment Frequency | Notional Amount2 | Annual Protection Payments | Value | Upfront Payments Paid (Received) | Unrealized Depreciation3 | Variation Margin Due from (Due to) Brokers | ||||||
Over-The-Counter: | ||||||||||||
Protection Purchased/Moody’s Ratings: | ||||||||||||
JPMCB-Republic of Turkey 11.875% 1/15/30 B2 6/22/26- Quarterly | 200,000 | 1.000% | $24,862 | $33,201 | $(8,339) | $111 | ||||||
$24,862 | $33,201 | $(8,339) | $111 |
1 | A CDS contract is a risk-transfer instrument through which one party (purchaser of protection) transfers to another party (seller of protection) the financial risk of a credit event (as defined in the CDS agreement), as it relates to a particular reference security or basket of securities (such as an index). Periodic payments (receipts) on such contracts are accrued daily and recorded as unrealized losses (gains) on swap contracts. Upon payment (receipt), such amounts are recorded as realized losses (gains) on swap contracts. Upfront payments made or received in connection with CDS contracts are amortized over the expected life of the CDS contracts as unrealized losses (gains) on swap contracts. The change in value of CDS contracts is recorded daily as unrealized appreciation or depreciation. A realized gain or loss is recorded upon a credit event (as defined in the CDS agreement) or the maturity or termination of the CDS agreement. |
2 | Notional amount shown is stated in USD unless noted that the swap is denominated in another currency. |
3 | Unrealized appreciation (depreciation) does not include periodic interest payments (receipt) on swap contracts accrued daily in the amount of $(56). |
The use of foreign currency exchange contracts, futures contracts, and swap contracts involve elements of market risk and risks in excess of the amounts disclosed in these financial statements. The foreign currency exchange contracts and notional amounts presented on the previous page represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) and variation margin is reflected in the Fund’s net assets.
Summary of abbreviations: |
AG – Aktiengesellschaft |
BNYM – Bank of New York Mellon |
CITI – Citigroup |
CLO – Collateralized Loan Obligation |
DAC – Designated Activity Company |
DB – Deutsche Bank |
DIFC – Dubai International Financial Centre |
EAFE – Europe, Australasia, and Far East |
ESG – Environmental, Social, and Governance |
ETF – Exchange-Traded Fund |
GNMA – Government National Mortgage Association |
GS – Goldman Sachs |
ICE – Intercontinental Exchange, Inc. |
JPMCB – JPMorgan Chase Bank |
JSC – Joint Stock Company |
LIBOR – London interbank offered rate |
Summary of abbreviations: (continued) |
LIBOR03M – ICE LIBOR USD 3 Month |
LIBOR06M – ICE LIBOR USD 6 Month |
MSCI – Morgan Stanley Capital International |
REIT – Real Estate Investment Trust |
S&P – Standard & Poor’s Financial Services LLC |
S.F. – Single Family |
yr – Year |
Summary of currencies: |
CNY – China Yuan Renminbi |
COP – Colombia Peso |
EUR – European Monetary Unit |
IDR – Indonesia Rupiah |
JPY – Japanese Yen |
KZT – Kazakhstan Tenge |
MXN – Mexican Peso |
MYR – Malaysia Ringgit |
18 NQ-QPV [6/21] 8/21 (1751150)
(Unaudited)
Summary of currencies: (continued) |
PEN – Peruvian Sol |
RON – Romania New Leu |
Summary of currencies: (continued) |
USD – US Dollar |
UYU – Uruguay Peso |
NQ-QPV [6/21] 8/21 (1751150) 19