Schedule of investments
Delaware Wealth Builder Fund | February 28, 2021 (Unaudited) |
Principal amount° | Value (US $) | ||
Agency Mortgage-Backed Securities — 1.06% | |||
Fannie Mae S.F. 15 yr 2.00% 3/1/36 | 107,000 | $111,273 | |
Fannie Mae S.F. 20 yr 2.00% 3/1/41 | 71,000 | 72,773 | |
Fannie Mae S.F. 30 yr | |||
2.00% 12/1/50 | 124,516 | 126,165 | |
2.00% 1/1/51 | 78,846 | 79,894 | |
2.00% 2/1/51 | 70,920 | 71,822 | |
2.00% 3/1/51 | 101,000 | 102,124 | |
2.50% 1/1/51 | 63,802 | 66,263 | |
3.00% 11/1/46 | 91,429 | 97,056 | |
3.00% 11/1/48 | 17,015 | 17,942 | |
3.00% 12/1/49 | 8,234 | 8,813 | |
3.00% 6/1/50 | 51,662 | 54,174 | |
3.00% 7/1/50 | 176,422 | 185,048 | |
3.00% 8/1/50 | 85,000 | 89,198 | |
3.00% 9/1/50 | 34,798 | 36,551 | |
3.50% 2/1/48 | 88,210 | 95,644 | |
3.50% 11/1/48 | 30,572 | 32,434 | |
3.50% 12/1/49 | 272,462 | 296,129 | |
4.00% 4/1/47 | 13,792 | 15,281 | |
4.00% 6/1/48 | 162,400 | 179,398 | |
4.00% 9/1/48 | 8,825 | 9,635 | |
4.00% 6/1/49 | 13,683 | 15,017 | |
4.50% 2/1/41 | 13,634 | 15,297 | |
4.50% 10/1/45 | 13,570 | 15,214 | |
4.50% 4/1/48 | 554,891 | 618,693 | |
4.50% 1/1/49 | 203,214 | 226,290 | |
4.50% 1/1/50 | 22,771 | 24,931 | |
5.00% 7/1/49 | 200,697 | 226,333 | |
Fannie Mae S.F. 30 yr TBA | |||
2.00% 3/1/51 | 160,000 | 161,619 | |
2.50% 3/1/51 | 669,000 | 693,565 | |
Freddie Mac S.F. 15 yr | |||
1.50% 3/1/36 | 78,000 | 79,050 | |
2.00% 12/1/35 | 81,811 | 85,121 | |
Freddie Mac S.F. 20 yr 2.00% 3/1/41 | 106,000 | 108,716 |
NQ-129 [2/21] 4/21 (1595594) 1
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Principal amount° | Value (US $) | ||
Agency Mortgage-Backed Securities (continued) | |||
Freddie Mac S.F. 30 yr | |||
2.50% 10/1/50 | 45,669 | $47,782 | |
3.00% 1/1/50 | 15,815 | 16,844 | |
4.00% 7/1/47 | 5,290 | 5,721 | |
4.00% 10/1/47 | 50,658 | 54,662 | |
4.50% 1/1/49 | 16,517 | 18,592 | |
4.50% 4/1/49 | 18,457 | 20,474 | |
4.50% 8/1/49 | 43,096 | 47,991 | |
Total Agency Mortgage-Backed Securities (cost $4,193,476) | 4,229,529 | ||
Collateralized Debt Obligations — 0.20% | |||
Cedar Funding IX CLO Series 2018-9A A1 144A 1.204% (LIBOR03M + 0.98%, Floor 0.98%) 4/20/31 #, • | 250,000 | 250,190 | |
Octagon Investment Partners 48 Series 2020-3A A 144A 1.732% (LIBOR03M + 1.50%, Floor 1.50%) 10/20/31 #, • | 300,000 | 300,883 | |
Sound Point Clo XXI Series 2018-3A A1A 144A 1.395% (LIBOR03M + 1.18%, Floor 1.18%) 10/26/31 #, • | 250,000 | 250,435 | |
Total Collateralized Debt Obligations (cost $793,758) | 801,508 | ||
Convertible Bonds — 9.68% | |||
Capital Goods — 0.54% | |||
Aerojet Rocketdyne Holdings 2.25% exercise price $26.00, maturity date 12/15/23 | 174,000 | 342,752 | |
Chart Industries 144A 1.00% exercise price $58.73, maturity date 11/15/24 # | 721,000 | 1,811,767 | |
2,154,519 | |||
Communications — 1.45% | |||
DISH Network 3.375% exercise price $65.18, maturity date 8/15/26 | 1,153,000 | 1,087,079 | |
InterDigital 2.00% exercise price $81.29, maturity date 6/1/24 | 1,391,000 | 1,489,205 | |
Liberty Broadband 144A 1.25% exercise price $900.01, maturity date 9/30/50 # | 1,250,000 | 1,251,432 | |
Liberty Latin America 2.00% exercise price $20.65, maturity date 7/15/24 | 452,000 | 444,933 | |
Liberty Media 2.25% exercise price $33.19, maturity date 9/30/46 | 3,239,000 | 1,520,439 | |
5,793,088 |
2 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Principal amount° | Value (US $) | ||
Convertible Bonds (continued) | |||
Consumer Non-Cyclical — 2.58% | |||
BioMarin Pharmaceutical 0.599% exercise price $124.67, maturity date 8/1/24 | 689,000 | $720,738 | |
Chefs' Warehouse 1.875% exercise price $44.20, maturity date 12/1/24 | 1,330,000 | 1,409,849 | |
Coherus Biosciences 144A 1.50% exercise price $19.26, maturity date 4/15/26 # | 109,000 | 124,860 | |
Collegium Pharmaceutical 2.625% exercise price $29.19, maturity date 2/15/26 | 722,000 | 794,704 | |
FTI Consulting 2.00% exercise price $101.38, maturity date 8/15/23 | 979,000 | 1,265,311 | |
Insulet 0.375% exercise price $226.73, maturity date 9/1/26 | 328,000 | 442,941 | |
Integra LifeSciences Holdings 0.50% exercise price $73.67, maturity date 8/15/25 | 1,246,000 | 1,416,577 | |
Jazz Investments I 144A 2.00% exercise price $155.81, maturity date 6/15/26 # | 865,000 | 1,155,947 | |
Neurocrine Biosciences 2.25% exercise price $75.92, maturity date 5/15/24 | 310,000 | 464,556 | |
Paratek Pharmaceuticals 4.75% exercise price $15.90, maturity date 5/1/24 | 1,600,000 | 1,476,974 | |
Repay Holdings 144A 0.484% exercise price $33.60, maturity date 2/1/26 #, ^ | 104,000 | 103,073 | |
Travere Therapeutics 2.50% exercise price $38.80, maturity date 9/15/25 | 825,000 | 926,997 | |
10,302,527 | |||
Energy — 1.53% | |||
Cheniere Energy 4.25% exercise price $138.38, maturity date 3/15/45 | 2,694,000 | 2,228,499 | |
Helix Energy Solutions Group 6.75% exercise price $6.97, maturity date 2/15/26 | 1,291,000 | 1,521,766 | |
NextEra Energy Partners 144A 0.357% exercise price $76.16, maturity date 11/15/25 #, ^ | 416,000 | 453,165 | |
PDC Energy 1.125% exercise price $85.39, maturity date 9/15/21 | 1,936,000 | 1,924,110 | |
6,127,540 | |||
Real Estate Investment Trusts — 0.67% | |||
Blackstone Mortgage Trust 4.75% exercise price $36.23, maturity date 3/15/23 | 1,671,000 | 1,711,400 | |
Summit Hotel Properties 1.50% exercise price $11.99, maturity date 2/15/26 | 868,000 | 980,286 | |
2,691,686 |
NQ-129 [2/21] 4/21 (1595594) 3
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Principal amount° | Value (US $) | ||
Convertible Bonds (continued) | |||
Technology — 2.26% | |||
Boingo Wireless 1.00% exercise price $42.32, maturity date 10/1/23 | 2,304,000 | $2,134,529 | |
Knowles 3.25% exercise price $18.43, maturity date 11/1/21 | 585,000 | 703,376 | |
Microchip Technology 1.625% exercise price $94.40, maturity date 2/15/27 | 634,000 | 1,415,405 | |
ON Semiconductor 1.625% exercise price $20.72, maturity date 10/15/23 | 622,000 | 1,266,173 | |
Palo Alto Networks 0.75% exercise price $266.35, maturity date 7/1/23 | 767,000 | 1,109,941 | |
Quotient Technology 1.75% exercise price $17.36, maturity date 12/1/22 | 1,308,000 | 1,416,360 | |
Synaptics 0.50% exercise price $73.02, maturity date 6/15/22 | 544,000 | 1,001,213 | |
9,046,997 | |||
Transportation — 0.34% | |||
Seaspan 144A 3.75% exercise price $13.01, maturity date 12/15/25 # | 1,135,000 | 1,356,160 | |
1,356,160 | |||
Utilities — 0.31% | |||
NRG Energy 2.75% exercise price $46.25, maturity date 6/1/48 | 1,065,000 | 1,236,840 | |
1,236,840 | |||
Total Convertible Bonds (cost $33,700,123) | 38,709,357 | ||
Corporate Bonds — 15.68% | |||
Banking — 1.15% | |||
Banco Continental 144A 2.75% 12/10/25 # | 200,000 | 199,990 | |
Banco de Credito del Peru 144A 2.70% 1/11/25 # | 204,000 | 213,282 | |
Banco del Estado de Chile 144A 2.704% 1/9/25 # | 205,000 | 217,126 | |
Banco Nacional de Panama 144A 2.50% 8/11/30 # | 200,000 | 193,026 | |
Bank of America | |||
1.922% 10/24/31 μ | 70,000 | 68,012 | |
2.456% 10/22/25 μ | 15,000 | 15,873 | |
2.884% 10/22/30 μ | 20,000 | 21,191 | |
3.194% 7/23/30 μ | 55,000 | 59,569 | |
Bank of Georgia 144A 6.00% 7/26/23 # | 200,000 | 213,000 | |
BBVA Bancomer | |||
144A 1.875% 9/18/25 # | 200,000 | 202,025 | |
144A 6.75% 9/30/22 # | 274,000 | 296,810 | |
4 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Banking (continued) | |||
Deutsche Bank 2.222% 9/18/24 μ | 150,000 | $154,455 | |
Goldman Sachs Group 3.50% 4/1/25 | 80,000 | 87,529 | |
JPMorgan Chase & Co. | |||
2.739% 10/15/30 μ | 20,000 | 21,053 | |
4.023% 12/5/24 μ | 80,000 | 87,592 | |
5.00% 8/1/24 μ, ψ | 85,000 | 88,357 | |
Morgan Stanley | |||
1.413% (LIBOR03M + 1.22%) 5/8/24 • | 35,000 | 35,749 | |
1.794% 2/13/32 μ | 25,000 | 24,012 | |
5.00% 11/24/25 | 95,000 | 111,018 | |
5.875% 9/15/26 μ, ψ | 530,000 | 597,151 | |
Natwest Group 8.625% 8/15/21 μ, ψ | 320,000 | 331,110 | |
PNC Financial Services Group 2.60% 7/23/26 | 180,000 | 193,474 | |
Popular 6.125% 9/14/23 | 560,000 | 606,841 | |
State Street | |||
3.10% 5/15/23 | 10,000 | 10,614 | |
3.30% 12/16/24 | 130,000 | 143,301 | |
Truist Bank 2.636% 9/17/29 μ | 185,000 | 195,180 | |
US Bancorp | |||
3.00% 7/30/29 | 25,000 | 26,976 | |
3.10% 4/27/26 | 25,000 | 27,331 | |
3.375% 2/5/24 | 60,000 | 64,925 | |
USB Capital IX 3.50% (LIBOR03M + 1.02%) 4/15/11 ψ, • | 85,000 | 82,556 | |
4,589,128 | |||
Basic Industry — 1.79% | |||
Allegheny Technologies 5.875% 12/1/27 | 270,000 | 285,694 | |
AngloGold Ashanti Holdings 3.75% 10/1/30 | 200,000 | 211,872 | |
Avient 144A 5.75% 5/15/25 # | 118,000 | 125,251 | |
Boise Cascade 144A 4.875% 7/1/30 # | 87,000 | 92,901 | |
Chemours 144A 5.75% 11/15/28 # | 250,000 | 256,719 | |
Corp Nacional del Cobre de Chile 144A 3.15% 1/14/30 # | 200,000 | 212,431 | |
CSN Inova Ventures 144A 6.75% 1/28/28 # | 200,000 | 216,250 | |
First Quantum Minerals | |||
144A 7.25% 4/1/23 # | 250,000 | 255,381 | |
144A 7.50% 4/1/25 # | 250,000 | 258,438 | |
Freeport-McMoRan | |||
4.55% 11/14/24 | 200,000 | 220,625 | |
4.625% 8/1/30 | 235,000 | 260,153 | |
5.45% 3/15/43 | 320,000 | 398,195 |
NQ-129 [2/21] 4/21 (1595594) 5
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Basic Industry (continued) | |||
Hudbay Minerals | |||
144A 4.50% 4/1/26 # | 75,000 | $76,079 | |
144A 7.625% 1/15/25 # | 135,000 | 140,804 | |
Hutama Karya Persero 144A 3.75% 5/11/30 # | 200,000 | 215,550 | |
Koppers 144A 6.00% 2/15/25 # | 434,000 | 448,376 | |
Methanex 5.25% 12/15/29 | 185,000 | 190,088 | |
Minera Mexico 144A 4.50% 1/26/50 # | 200,000 | 211,300 | |
New Gold 144A 7.50% 7/15/27 # | 230,000 | 243,090 | |
Newmont 2.80% 10/1/29 | 190,000 | 200,950 | |
Nutrition & Biosciences 144A 1.832% 10/15/27 # | 135,000 | 135,700 | |
OCP 144A 4.50% 10/22/25 # | 200,000 | 215,733 | |
Olin | |||
5.00% 2/1/30 | 135,000 | 141,685 | |
5.125% 9/15/27 | 437,000 | 453,682 | |
PowerTeam Services 144A 9.033% 12/4/25 # | 485,000 | 538,350 | |
Standard Industries 144A 4.75% 1/15/28 # | 230,000 | 238,913 | |
Steel Dynamics 5.00% 12/15/26 | 505,000 | 533,201 | |
Univar Solutions USA 144A 5.125% 12/1/27 # | 180,000 | 188,404 | |
US Concrete 6.375% 6/1/24 | 2,000 | 2,049 | |
Vale Overseas 3.75% 7/8/30 | 193,000 | 205,362 | |
7,173,226 | |||
Capital Goods — 0.66% | |||
Ardagh Packaging Finance 144A 5.25% 8/15/27 # | 235,000 | 243,683 | |
Bombardier | |||
144A 6.00% 10/15/22 # | 240,000 | 235,741 | |
144A 7.875% 4/15/27 # | 270,000 | 242,792 | |
Crown Americas 4.75% 2/1/26 | 463,000 | 481,233 | |
Reynolds Group Issuer 144A 4.00% 10/15/27 # | 245,000 | 244,540 | |
Terex 144A 5.625% 2/1/25 # | 260,000 | 267,313 | |
TransDigm | |||
144A 4.625% 1/15/29 # | 115,000 | 113,275 | |
144A 6.25% 3/15/26 # | 262,000 | 276,448 | |
Vertical US Newco 144A 5.25% 7/15/27 # | 510,000 | 532,631 | |
2,637,656 | |||
Communications — 1.20% | |||
Altice France 144A 7.375% 5/1/26 # | 235,000 | 245,328 | |
Altice France Holding 144A 6.00% 2/15/28 # | 515,000 | 505,012 | |
AT&T 4.35% 3/1/29 | 170,000 | 196,095 | |
Connect Finco 144A 6.75% 10/1/26 # | 250,000 | 259,531 | |
Frontier Communications 144A 5.875% 10/15/27 # | 230,000 | 246,531 |
6 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Communications (continued) | |||
Level 3 Financing 144A 4.25% 7/1/28 # | 220,000 | $223,324 | |
MercadoLibre 2.375% 1/14/26 | 200,000 | 201,010 | |
Millicom International Cellular 144A 4.50% 4/27/31 # | 200,000 | 214,300 | |
Ooredoo International Finance 144A 5.00% 10/19/25 # | 200,000 | 232,274 | |
Sprint 7.125% 6/15/24 | 527,000 | 607,478 | |
T-Mobile USA | |||
144A 3.875% 4/15/30 # | 120,000 | 132,080 | |
6.50% 1/15/26 | 460,000 | 474,950 | |
Verizon Communications | |||
4.50% 8/10/33 | 95,000 | 113,411 | |
4.522% 9/15/48 | 35,000 | 41,293 | |
Vodafone Group | |||
4.25% 9/17/50 | 110,000 | 123,690 | |
4.875% 6/19/49 | 40,000 | 49,195 | |
Zayo Group Holdings | |||
144A 4.00% 3/1/27 # | 415,000 | 413,832 | |
144A 6.125% 3/1/28 # | 500,000 | 516,410 | |
4,795,744 | |||
Consumer Cyclical — 1.66% | |||
Allison Transmission 144A 5.875% 6/1/29 # | 460,000 | 497,428 | |
B2W Digital 144A 4.375% 12/20/30 # | 200,000 | 203,652 | |
Boyd Gaming 6.375% 4/1/26 | 452,000 | 467,603 | |
Caesars Entertainment 144A 6.25% 7/1/25 # | 505,000 | 535,300 | |
Carnival | |||
144A 5.75% 3/1/27 # | 125,000 | 127,050 | |
144A 7.625% 3/1/26 # | 355,000 | 373,637 | |
Ford Motor 9.00% 4/22/25 | 235,000 | 284,599 | |
Ford Motor Credit | |||
3.375% 11/13/25 | 480,000 | 488,453 | |
4.542% 8/1/26 | 515,000 | 550,406 | |
General Motors Financial | |||
4.35% 4/9/25 | 75,000 | 83,181 | |
5.25% 3/1/26 | 95,000 | 109,992 | |
H&E Equipment Services 144A 3.875% 12/15/28 # | 145,000 | 139,744 | |
Hilton Domestic Operating 144A 4.00% 5/1/31 # | 205,000 | 208,203 | |
Hilton Worldwide Finance 4.875% 4/1/27 | 545,000 | 567,822 | |
Jaguar Land Rover Automotive 144A 5.875% 1/15/28 # | 200,000 | 204,400 |
NQ-129 [2/21] 4/21 (1595594) 7
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Consumer Cyclical (continued) | |||
L Brands | |||
6.875% 11/1/35 | 250,000 | $303,670 | |
6.95% 3/1/33 | 167,000 | 185,370 | |
Levi Strauss & Co. 144A 3.50% 3/1/31 # | 220,000 | 222,750 | |
MGM Resorts International 4.75% 10/15/28 | 95,000 | 99,055 | |
Scientific Games International 144A 8.25% 3/15/26 # | �� | 164,000 | 174,124 |
Six Flags Entertainment 144A 4.875% 7/31/24 # | 150,000 | 150,367 | |
Wyndham Hotels & Resorts 144A 4.375% 8/15/28 # | 627,000 | 640,716 | |
6,617,522 | |||
Consumer Non-Cyclical — 0.95% | |||
Anheuser-Busch InBev Worldwide | |||
3.65% 2/1/26 | 125,000 | 138,717 | |
4.15% 1/23/25 | 50,000 | 55,839 | |
Auna 144A 6.50% 11/20/25 # | 200,000 | 212,400 | |
BAT Capital 2.259% 3/25/28 | 55,000 | 55,062 | |
Bunge Finance 1.63% 8/17/25 | 150,000 | 151,862 | |
CVS Health 3.25% 8/15/29 | 185,000 | 201,120 | |
Gilead Sciences 4.15% 3/1/47 | 165,000 | 188,661 | |
JBS USA LUX 144A 6.50% 4/15/29 # | 305,000 | 343,695 | |
Kraft Heinz Foods | |||
3.875% 5/15/27 | 240,000 | 262,617 | |
5.20% 7/15/45 | 480,000 | 577,675 | |
Pilgrim's Pride 144A 5.75% 3/15/25 # | 535,000 | 546,262 | |
Post Holdings | |||
144A 5.00% 8/15/26 # | 311,000 | 324,723 | |
144A 5.625% 1/15/28 # | 160,000 | 168,256 | |
144A 5.75% 3/1/27 # | 295,000 | 309,462 | |
Primo Water Holdings 144A 5.50% 4/1/25 # | 272,000 | 280,190 | |
3,816,541 | |||
Energy — 2.20% | |||
Apache | |||
4.75% 4/15/43 | 155,000 | 151,747 | |
4.875% 11/15/27 | 120,000 | 125,963 | |
Ascent Resources Utica Holdings 144A 7.00% 11/1/26 # | 143,000 | 144,073 | |
Chevron USA | |||
3.25% 10/15/29 | 85,000 | 94,818 | |
3.90% 11/15/24 | 20,000 | 22,201 | |
4.20% 10/15/49 | 15,000 | 17,746 | |
5.05% 11/15/44 | 5,000 | 6,604 |
8 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Energy (continued) | |||
CNX Resources | |||
144A 6.00% 1/15/29 # | 255,000 | $267,272 | |
144A 7.25% 3/14/27 # | 120,000 | 128,550 | |
Crestwood Midstream Partners 144A 6.00% 2/1/29 # | 243,000 | 240,875 | |
DCP Midstream Operating 5.125% 5/15/29 | 360,000 | 382,108 | |
Energy Transfer Operating | |||
5.25% 4/15/29 | 95,000 | 110,246 | |
6.25% 4/15/49 | 60,000 | 71,850 | |
Enterprise Products Operating 3.20% 2/15/52 | 50,000 | 46,673 | |
EQM Midstream Partners | |||
144A 4.75% 1/15/31 # | 150,000 | 144,750 | |
144A 6.50% 7/1/27 # | 270,000 | 290,014 | |
Genesis Energy | |||
7.75% 2/1/28 | 390,000 | 385,694 | |
8.00% 1/15/27 | 245,000 | 249,134 | |
Israel Electric 144A 4.25% 8/14/28 # | 300,000 | 338,625 | |
KazTransGas 144A 4.375% 9/26/27 # | 381,000 | 424,834 | |
Lukoil Securities 144A 3.875% 5/6/30 # | 205,000 | 217,310 | |
Marathon Oil 4.40% 7/15/27 | 150,000 | 169,746 | |
MPLX | |||
4.00% 3/15/28 | 30,000 | 33,542 | |
5.50% 2/15/49 | 55,000 | 66,929 | |
Murphy Oil | |||
5.875% 12/1/27 | 395,000 | 389,446 | |
6.875% 8/15/24 | 65,000 | 66,056 | |
Murphy Oil USA 144A 3.75% 2/15/31 # | 230,000 | 230,144 | |
Noble Energy 4.95% 8/15/47 | 50,000 | 64,724 | |
NuStar Logistics 5.625% 4/28/27 | 228,000 | 238,688 | |
Occidental Petroleum | |||
3.00% 2/15/27 | 130,000 | 122,290 | |
3.40% 4/15/26 | 125,000 | 121,524 | |
3.50% 8/15/29 | 130,000 | 124,478 | |
6.125% 1/1/31 | 215,000 | 240,601 | |
6.45% 9/15/36 | 105,000 | 119,858 | |
6.625% 9/1/30 | 210,000 | 239,190 | |
PDC Energy 5.75% 5/15/26 | 285,000 | 292,510 | |
Petrobras Global Finance 6.75% 6/3/50 | 80,000 | 87,440 | |
Pioneer Natural Resources 1.90% 8/15/30 | 95,000 | 91,439 | |
PTTEP Treasury Center 144A 2.587% 6/10/27 # | 185,000 | 193,079 |
NQ-129 [2/21] 4/21 (1595594) 9
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Energy (continued) | |||
Sabine Pass Liquefaction | |||
5.625% 3/1/25 | 55,000 | $63,440 | |
5.75% 5/15/24 | 110,000 | 125,100 | |
Saudi Arabian Oil 144A 1.625% 11/24/25 # | 200,000 | 202,372 | |
Southwestern Energy 7.75% 10/1/27 | 240,000 | 257,250 | |
Targa Resources Partners 5.375% 2/1/27 | 237,000 | 246,436 | |
TechnipFMC 144A 6.50% 2/1/26 # | 455,000 | 476,791 | |
Tengizchevroil Finance Co. International 144A 2.625% 8/15/25 # | 200,000 | 205,069 | |
Tennessee Gas Pipeline 144A 2.90% 3/1/30 # | 130,000 | 133,879 | |
UEP Penonome II 144A 6.50% 10/1/38 # | 200,000 | 205,052 | |
Western Midstream Operating 4.75% 8/15/28 | 115,000 | 120,756 | |
8,788,916 | |||
Financials — 0.82% | |||
AerCap Global Aviation Trust 144A 6.50% 6/15/45 #, μ | 240,000 | 250,834 | |
AerCap Ireland Capital 4.45% 4/3/26 | 150,000 | 164,078 | |
Air Lease 2.875% 1/15/26 | 150,000 | 156,187 | |
Ally Financial | |||
5.75% 11/20/25 | 798,000 | 915,269 | |
8.00% 11/1/31 | 385,000 | 551,734 | |
Banco BTG Pactual 144A 2.75% 1/11/26 # | 200,000 | 195,252 | |
DAE Sukuk Difc 144A 3.75% 2/15/26 # | 400,000 | 416,378 | |
INEOS Quattro Finance 2 144A 3.375% 1/15/26 # | 200,000 | 199,750 | |
Jefferies Group | |||
4.15% 1/23/30 | 170,000 | 192,947 | |
6.45% 6/8/27 | 10,000 | 12,762 | |
6.50% 1/20/43 | 5,000 | 6,641 | |
Oryx Funding 144A 5.80% 2/3/31 # | 200,000 | 208,867 | |
3,270,699 | |||
Healthcare — 1.17% | |||
Bausch Health 144A 5.50% 11/1/25 # | 490,000 | 504,798 | |
Centene | |||
3.375% 2/15/30 | 295,000 | 303,633 | |
144A 5.375% 8/15/26 # | 470,000 | 495,850 | |
Community Health Systems | |||
144A 4.75% 2/15/31 # | 65,000 | 63,822 | |
144A 6.625% 2/15/25 # | 170,000 | 179,095 | |
DaVita 144A 4.625% 6/1/30 # | 205,000 | 208,716 | |
Encompass Health 5.75% 9/15/25 | 244,000 | 253,150 | |
Hadrian Merger Sub 144A 8.50% 5/1/26 # | 275,000 | 286,979 |
10 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Healthcare (continued) | |||
HCA | |||
5.375% 2/1/25 | 339,000 | $380,607 | |
5.875% 2/15/26 | 219,000 | 253,427 | |
7.58% 9/15/25 | 219,000 | 263,939 | |
Hill-Rom Holdings 144A 5.00% 2/15/25 # | 242,000 | 249,048 | |
Ortho-Clinical Diagnostics | |||
144A 7.25% 2/1/28 # | 120,000 | 131,325 | |
144A 7.375% 6/1/25 # | 147,000 | 157,750 | |
Service Corp. International 4.625% 12/15/27 | 280,000 | 296,065 | |
Tenet Healthcare | |||
5.125% 5/1/25 | 345,000 | 347,156 | |
144A 6.125% 10/1/28 # | 280,000 | 295,106 | |
Universal Health Services 144A 5.00% 6/1/26 # | 5,000 | 5,155 | |
4,675,621 | |||
Insurance — 0.23% | |||
HUB International 144A 7.00% 5/1/26 # | 415,000 | 432,864 | |
USI 144A 6.875% 5/1/25 # | 468,000 | 478,233 | |
911,097 | |||
Media — 1.37% | |||
Altice Financing 144A 5.00% 1/15/28 # | 200,000 | 200,285 | |
AMC Networks 4.25% 2/15/29 | 540,000 | 529,232 | |
CCO Holdings | |||
144A 4.50% 8/15/30 # | 105,000 | 108,859 | |
144A 4.50% 5/1/32 # | 60,000 | 61,707 | |
144A 5.375% 6/1/29 # | 520,000 | 561,007 | |
144A 5.875% 5/1/27 # | 519,000 | 537,684 | |
Charter Communications Operating | |||
4.80% 3/1/50 | 70,000 | 77,102 | |
5.05% 3/30/29 | 100,000 | 117,421 | |
Comcast 3.20% 7/15/36 | 80,000 | 86,354 | |
CSC Holdings | |||
144A 3.375% 2/15/31 # | 400,000 | 384,500 | |
5.25% 6/1/24 | 5,000 | 5,391 | |
Cumulus Media New Holdings 144A 6.75% 7/1/26 # | 253,000 | 258,810 | |
Discovery Communications 4.125% 5/15/29 | 135,000 | 153,165 | |
Gray Television 144A 4.75% 10/15/30 # | 475,000 | 475,891 | |
Netflix 5.875% 11/15/28 | 400,000 | 480,380 | |
Sinclair Television Group 144A 5.125% 2/15/27 # | 362,000 | 360,036 | |
Sirius XM Radio 144A 5.00% 8/1/27 # | 470,000 | 490,085 | |
Terrier Media Buyer 144A 8.875% 12/15/27 # | 250,000 | 268,281 |
NQ-129 [2/21] 4/21 (1595594) 11
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Media (continued) | |||
Time Warner Cable 7.30% 7/1/38 | 60,000 | $85,952 | |
Time Warner Entertainment 8.375% 3/15/23 | 25,000 | 28,978 | |
ViacomCBS 4.375% 3/15/43 | 180,000 | 203,833 | |
5,474,953 | |||
Real Estate Investment Trusts — 0.26% | |||
Crown Castle International 5.25% 1/15/23 | 125,000 | 135,633 | |
CubeSmart 3.00% 2/15/30 | 140,000 | 147,435 | |
Global Net Lease 144A 3.75% 12/15/27 # | 97,000 | 97,038 | |
Iron Mountain 144A 4.50% 2/15/31 # | 440,000 | 437,338 | |
MGM Growth Properties Operating Partnership | |||
144A 3.875% 2/15/29 # | 50,000 | 50,719 | |
5.75% 2/1/27 | 160,000 | 181,050 | |
1,049,213 | |||
Services — 0.54% | |||
Aramark Services 144A 5.00% 2/1/28 # | 485,000 | 497,731 | |
Ashtead Capital 144A 5.25% 8/1/26 # | 570,000 | 601,350 | |
Covanta Holding 5.875% 7/1/25 | 233,000 | 241,471 | |
GFL Environmental 144A 3.75% 8/1/25 # | 98,000 | 100,266 | |
Legends Hospitality Holding 144A 5.00% 2/1/26 # | 150,000 | 152,813 | |
Prime Security Services Borrower 144A 5.75% 4/15/26 # | 310,000 | 334,412 | |
United Rentals North America 3.875% 2/15/31 | 241,000 | 246,904 | |
2,174,947 | |||
Technology & Electronics — 0.45% | |||
Apple 2.20% 9/11/29 | 140,000 | 144,506 | |
CommScope Technologies 144A 5.00% 3/15/27 # | 192,000 | 188,439 | |
Global Payments 2.65% 2/15/25 | 135,000 | 142,799 | |
Go Daddy Operating 144A 3.50% 3/1/29 # | 240,000 | 239,100 | |
NXP 144A 4.875% 3/1/24 # | 80,000 | 89,295 | |
Sensata Technologies UK Financing 144A 6.25% 2/15/26 # | 285,000 | 294,769 | |
SS&C Technologies 144A 5.50% 9/30/27 # | 660,000 | 698,029 | |
1,796,937 | |||
Transportation — 0.38% | |||
Delta Air Lines 7.375% 1/15/26 | 575,000 | 674,141 | |
Hawaiian Brand Intellectual Property 144A 5.75% 1/20/26 # | 240,000 | 252,046 | |
Mileage Plus Holdings 144A 6.50% 6/20/27 # | 250,000 | 273,437 | |
Rutas 2 and 7 Finance 144A 3.413% 9/30/36 #, ^ | 200,000 | 149,400 |
12 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Transportation (continued) | |||
Southwest Airlines 5.125% 6/15/27 | 40,000 | $46,891 | |
VistaJet Malta Finance 144A 10.50% 6/1/24 # | 120,000 | 128,100 | |
1,524,015 | |||
Utilities — 0.85% | |||
Calpine | |||
144A 4.50% 2/15/28 # | 92,000 | 94,668 | |
144A 5.00% 2/1/31 # | 255,000 | 252,761 | |
144A 5.25% 6/1/26 # | 167,000 | 172,052 | |
Centrais Eletricas Brasileiras 144A 3.625% 2/4/25 # | 200,000 | 203,440 | |
Duke Energy 4.875% 9/16/24 μ, ψ | 85,000 | 91,117 | |
Enel 144A 8.75% 9/24/73 #, μ | 200,000 | 233,000 | |
Entergy Louisiana 4.95% 1/15/45 | 5,000 | 5,481 | |
Entergy Mississippi 2.85% 6/1/28 | 60,000 | 64,739 | |
Entergy Texas 3.55% 9/30/49 | 115,000 | 121,925 | |
Evergy 2.90% 9/15/29 | 160,000 | 169,982 | |
Evergy Metro 3.65% 8/15/25 | 25,000 | 27,716 | |
Infraestructura Energetica Nova 144A 3.75% 1/14/28 # | 205,000 | 218,069 | |
Mong Duong Finance Holdings 144A 5.125% 5/7/29 # | 500,000 | 508,437 | |
National Rural Utilities Cooperative Finance 4.75% 4/30/43 μ | 5,000 | 5,212 | |
NextEra Energy Capital Holdings 5.65% 5/1/79 μ | 55,000 | 64,331 | |
PG&E 5.25% 7/1/30 | 245,000 | 262,383 | |
Southern California Edison | |||
4.00% 4/1/47 | 30,000 | 32,520 | |
4.875% 3/1/49 | 45,000 | 55,232 | |
Southwestern Electric Power 4.10% 9/15/28 | 165,000 | 187,826 | |
Vistra Operations 144A 5.50% 9/1/26 # | 620,000 | 644,025 | |
3,414,916 | |||
Total Corporate Bonds (cost $60,397,253) | 62,711,131 | ||
Non-Agency Commercial Mortgage-Backed Securities — 0.58% | |||
BANK | |||
Series 2017-BNK5 B 3.896% 6/15/60 • | 95,000 | 104,512 | |
Series 2019-BN20 A3 3.011% 9/15/62 | 250,000 | 269,623 | |
Benchmark Mortgage Trust Series 2020-B20 A5 2.034% 10/15/53 | 300,000 | 300,109 | |
CD Mortgage Trust Series 2019-CD8 A4 2.912% 8/15/57 | 250,000 | 266,118 |
NQ-129 [2/21] 4/21 (1595594) 13
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Principal amount° | Value (US $) | ||
Non-Agency Commercial Mortgage-Backed Securities (continued) | |||
DB-JPM Mortgage Trust Series 2016-C3 A5 2.89% 8/10/49 | 250,000 | $269,946 | |
Grace Trust Series 2020-GRCE A 144A 2.347% 12/10/40 # | 100,000 | 101,536 | |
GS Mortgage Securities Trust | |||
Series 2017-GS6 A3 3.433% 5/10/50 | 165,000 | 181,982 | |
Series 2019-GC42 A4 3.001% 9/1/52 | 250,000 | 269,926 | |
JPM-BB Commercial Mortgage Securities Trust Series 2015-C33 A4 3.77% 12/15/48 | 500,000 | 555,500 | |
Total Non-Agency Commercial Mortgage-Backed Securities (cost $2,253,156) | 2,319,252 | ||
Sovereign Bonds — 2.18%Δ | |||
Armenia — 0.05% | |||
Republic of Armenia International Bond | |||
144A 3.60% 2/2/31 # | 200,000 | 184,831 | |
184,831 | |||
Bermuda — 0.05% | |||
Bermuda Government International Bond | |||
144A 2.375% 8/20/30 # | 200,000 | 198,000 | |
198,000 | |||
Brazil — 0.10% | |||
Brazil Notas do Tesouro Nacional Serie F | |||
10.00% 1/1/27 | BRL | 2,000,000 | 390,905 |
390,905 | |||
Dominican Republic — 0.15% | |||
Dominican Republic International Bonds | |||
144A 4.50% 1/30/30 # | 396,000 | 401,445 | |
144A 4.875% 9/23/32 # | 200,000 | 203,750 | |
605,195 | |||
Egypt — 0.11% | |||
Egypt Government International Bond | |||
144A 5.75% 5/29/24 # | 400,000 | 423,956 | |
423,956 | |||
Gabon — 0.05% | |||
Gabon Government International Bond | |||
144A 6.625% 2/6/31 # | 200,000 | 196,323 | |
196,323 |
14 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Principal amount° | Value (US $) | ||
Sovereign BondsΔ (continued) | |||
Georgia — 0.05% | |||
Georgia Government International Bond | |||
6.875% 4/12/21 | 200,000 | $201,107 | |
201,107 | |||
Honduras — 0.06% | |||
Honduras Government International Bond | |||
144A 5.625% 6/24/30 # | 200,000 | 219,500 | |
219,500 | |||
Indonesia — 0.08% | |||
Indonesia Government International Bond | |||
144A 4.125% 1/15/25 # | 300,000 | 331,117 | |
331,117 | |||
Israel — 0.08% | |||
Israel Government International Bond | |||
2.75% 7/3/30 | 310,000 | 331,119 | |
331,119 | |||
Ivory Coast — 0.15% | |||
Ivory Coast Government International Bonds | |||
144A 4.875% 1/30/32 # | EUR | 200,000 | 242,119 |
144A 6.125% 6/15/33 # | 200,000 | 215,855 | |
144A 6.875% 10/17/40 # | EUR | 100,000 | 131,545 |
589,519 | |||
Malaysia — 0.04% | |||
Malaysia Government Bond | |||
3.955% 9/15/25 | MYR | 647,000 | 171,084 |
171,084 | |||
Mongolia — 0.11% | |||
Development Bank of Mongolia 144A 7.25% 10/23/23 # | 200,000 | 219,004 | |
Mongolia Government International Bond 144A 5.625% 5/1/23 # | 200,000 | 212,000 | |
431,004 | |||
Morocco — 0.08% | |||
Morocco Government International Bonds | |||
144A 1.375% 3/30/26 # | EUR | 100,000 | 122,249 |
144A 2.375% 12/15/27 # | 200,000 | 197,411 | |
319,660 |
NQ-129 [2/21] 4/21 (1595594) 15
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Principal amount° | Value (US $) | ||
Sovereign BondsΔ (continued) | |||
North Macedonia — 0.03% | |||
North Macedonia Government International Bond | |||
144A 3.675% 6/3/26 # | EUR | 100,000 | $134,352 |
134,352 | |||
Panama — 0.04% | |||
Panama Government International Bond | |||
144A 3.75% 4/17/26 # | 155,000 | 168,015 | |
168,015 | |||
Paraguay — 0.11% | |||
Paraguay Government International Bond | |||
144A 4.95% 4/28/31 # | 400,000 | 454,000 | |
454,000 | |||
Peru — 0.18% | |||
Corp Financiera de Desarrollo 144A 2.40% 9/28/27 # | 200,000 | 201,200 | |
Peruvian Government International Bonds | |||
2.392% 1/23/26 | 200,000 | 208,300 | |
144A 5.35% 8/12/40 # | PEN | 1,178,000 | 315,375 |
724,875 | |||
Romania — 0.16% | |||
Romania Government Bond 4.15% 1/26/28 | RON | 1,400,000 | 365,225 |
Romanian Government International Bonds | |||
144A 2.625% 12/2/40 # | EUR | 73,000 | 86,985 |
144A 3.00% 2/14/31 # | 190,000 | 192,847 | |
645,057 | |||
Senegal — 0.05% | |||
Senegal Government International Bond | |||
144A 6.25% 5/23/33 # | 200,000 | 213,451 | |
213,451 | |||
Serbia — 0.13% | |||
Serbia International Bonds | |||
144A 2.125% 12/1/30 # | 200,000 | 188,831 | |
144A 3.125% 5/15/27 # | EUR | 250,000 | 334,511 |
523,342 | |||
Turkey — 0.06% | |||
Turkey Government International Bond | |||
6.375% 10/14/25 | 200,000 | 214,750 | |
214,750 |
16 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Principal amount° | Value (US $) | ||
Sovereign BondsΔ (continued) | |||
Ukraine — 0.10% | |||
Ukraine Government International Bond | |||
144A 7.75% 9/1/21 # | 384,000 | $391,881 | |
391,881 | |||
Uruguay — 0.09% | |||
Uruguay Government International Bonds | |||
4.375% 1/23/31 | 100,000 | 115,657 | |
4.50% 8/14/24 | 53,000 | 57,897 | |
9.875% 6/20/22 | UYU | 7,989,000 | 193,432 |
366,986 | |||
Uzbekistan — 0.07% | |||
Republic of Uzbekistan Bond | |||
144A 4.75% 2/20/24 # | 250,000 | 266,738 | |
266,738 | |||
Total Sovereign Bonds (cost $8,570,780) | 8,696,767 | ||
Supranational Bank — 0.25% | |||
Banco Latinoamericano de Comercio Exterior 144A 2.375% 9/14/25 # | 250,000 | 256,062 | |
Banque Ouest Africaine de Developpement 144A 4.70% 10/22/31 # | 402,000 | 436,150 | |
Central American Bank For Economic Integration 144A 2.00% 5/6/25 # | 300,000 | 313,197 | |
Total Supranational Bank (cost $960,693) | 1,005,409 | ||
US Treasury Obligations — 1.00% | |||
US Treasury Bonds | |||
1.375% 11/15/40 | 215,000 | 192,358 | |
1.375% 8/15/50 | 150,000 | 125,273 | |
4.375% 2/15/38 | 255,000 | 351,930 | |
US Treasury Floating Rate Note 0.089% (USBMMY3M + 0.05%) 1/31/23 • | 190,000 | 190,052 | |
US Treasury Inflation Indexed Notes 0.125% 7/15/30 | 370,811 | 406,549 | |
US Treasury Notes | |||
0.375% 1/31/26 | 595,000 | 585,424 | |
0.875% 11/15/30 | 1,495,000 | 1,425,856 | |
1.125% 2/15/31 | 345,000 | 336,591 |
NQ-129 [2/21] 4/21 (1595594) 17
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Principal amount° | Value (US $) | ||
US Treasury Obligations (continued) | |||
US Treasury Notes | |||
1.50% 2/15/30 | 270,000 | $274,177 | |
US Treasury Strip Principal 2.101% 5/15/44 ^ | 165,000 | 100,096 | |
Total US Treasury Obligations (cost $4,118,627) | 3,988,306 |
Number of shares | |||
Common Stock — 55.55% | |||
Communication Services — 4.89% | |||
Alphabet Class A † | 95 | 192,082 | |
Alphabet Class C † | 90 | 183,317 | |
AT&T | 88,960 | 2,481,094 | |
Century Communications † | 1,625,000 | 0 | |
Comcast Class A | 84,603 | 4,460,270 | |
Facebook Class A † | 1,060 | 273,077 | |
KDDI | 43,600 | 1,345,692 | |
Orange | 83,280 | 959,397 | |
Verizon Communications | 85,200 | 4,711,560 | |
ViacomCBS Class B | 3,870 | 249,576 | |
Walt Disney † | 24,766 | 4,681,765 | |
19,537,830 | |||
Consumer Discretionary — 4.95% | |||
adidas AG † | 3,540 | 1,233,946 | |
Amazon.com † | 345 | 1,067,061 | |
Best Buy | 3,200 | 321,120 | |
Buckle | 10,090 | 387,860 | |
Dollar Tree † | 42,000 | 4,124,400 | |
eBay | 6,530 | 368,423 | |
H & M Hennes & Mauritz Class B † | 37,120 | 874,818 | |
Home Depot | 2,230 | 576,098 | |
Lowe's | 28,500 | 4,552,875 | |
MercadoLibre † | 50 | 81,905 | |
Newell Brands | 13,650 | 316,270 | |
Next † | 3,670 | 386,546 | |
Publicis Groupe | 34,240 | 2,005,298 | |
Sodexo † | 12,750 | 1,218,682 | |
Swatch Group | 5,330 | 1,589,068 | |
Tractor Supply | 2,410 | 383,094 | |
Whirlpool | 1,700 | 323,136 | |
19,810,600 | |||
Consumer Staples — 6.58% | |||
Altria Group | 8,470 | 369,292 |
18 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
Consumer Staples (continued) | |||
Archer-Daniels-Midland | 82,400 | $4,662,192 | |
Asahi Group Holdings | 22,100 | 956,191 | |
Clorox | 1,600 | 289,680 | |
Colgate-Palmolive | 4,520 | 339,904 | |
Conagra Brands | 122,000 | 4,139,460 | |
Danone | 28,680 | 1,953,734 | |
Diageo | 47,910 | 1,877,294 | |
Essity Class B | 26,720 | 803,128 | |
Kao | 6,800 | 455,736 | |
Kellogg | 4,670 | 269,506 | |
Kimberly-Clark | 2,340 | 300,292 | |
Kirin Holdings | 18,500 | 362,468 | |
Koninklijke Ahold Delhaize | 49,390 | 1,301,478 | |
Kroger | 5,200 | 167,492 | |
Lawson | 12,400 | 578,733 | |
Mondelez International Class A | 76,400 | 4,061,424 | |
Nestle | 16,750 | 1,749,299 | |
Philip Morris International | 4,870 | 409,177 | |
Seven & i Holdings | 33,400 | 1,264,936 | |
26,311,416 | |||
Energy — 1.34% | |||
ConocoPhillips | 91,061 | 4,736,083 | |
Kinder Morgan | 19,250 | 282,975 | |
Williams | 15,110 | 345,112 | |
5,364,170 | |||
Financials — 6.60% | |||
Allstate | 40,000 | 4,264,000 | |
American International Group | 105,200 | 4,623,540 | |
Ameriprise Financial | 1,810 | 400,445 | |
Artisan Partners Asset Management Class A | 5,900 | 280,250 | |
Banco Espirito Santo † | 105,000 | 0 | |
BlackRock | 590 | 409,755 | |
Comerica | 1,900 | 129,390 | |
Discover Financial Services | 44,800 | 4,214,336 | |
Huntington Bancshares | 26,490 | 406,357 | |
Invesco | 17,370 | 389,435 | |
MetLife | 90,115 | 5,190,624 | |
Morgan Stanley | 3,850 | 295,950 | |
Principal Financial Group | 6,590 | 372,862 | |
Prudential Financial | 4,410 | 382,435 |
NQ-129 [2/21] 4/21 (1595594) 19
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
Financials (continued) | |||
S&P Global | 1,070 | $352,415 | |
Truist Financial | 81,900 | 4,665,024 | |
26,376,818 | |||
Healthcare — 8.71% | |||
AbbVie | 4,400 | 474,056 | |
Alexandria Real Estate Equities | 3,020 | 482,264 | |
AmerisourceBergen | 3,180 | 321,880 | |
Amgen | 1,680 | 377,866 | |
Cardinal Health | 81,200 | 4,183,424 | |
Cigna | 19,700 | 4,135,030 | |
CVS Health | 59,500 | 4,053,735 | |
Eli Lilly and Co. | 1,490 | 305,286 | |
Fresenius Medical Care AG & Co. | 24,810 | 1,717,043 | |
Healthcare Trust of America Class A | 10,258 | 278,607 | |
Humana | 830 | 315,109 | |
Johnson & Johnson | 30,650 | 4,856,799 | |
Merck & Co. | 59,710 | 4,336,140 | |
Molina Healthcare † | 1,540 | 333,810 | |
Novo Nordisk Class B | 26,970 | 1,916,458 | |
Pfizer | 12,520 | 419,295 | |
Roche Holding | 6,050 | 1,981,639 | |
UnitedHealth Group | 1,650 | 548,163 | |
Viatris † | 256,520 | 3,809,322 | |
34,845,926 | |||
Industrials — 5.44% | |||
Caterpillar | 21,693 | 4,683,085 | |
G4S † | 438,180 | 1,482,227 | |
Honeywell International | 21,433 | 4,336,968 | |
Lockheed Martin | 1,030 | 340,157 | |
Northrop Grumman | 14,500 | 4,229,070 | |
Raytheon Technologies | 61,079 | 4,397,077 | |
Secom | 5,100 | 441,415 | |
Securitas Class B | 95,440 | 1,463,152 | |
United Parcel Service Class B | 2,410 | 380,370 | |
21,753,521 | |||
Information Technology — 8.43% | |||
Adobe † | 1,020 | 468,863 | |
Apple | 13,720 | 1,663,687 | |
Broadcom | 10,720 | 5,037,007 | |
Cisco Systems | 100,030 | 4,488,346 | |
Cognizant Technology Solutions Class A | 54,632 | 4,014,359 |
20 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
Information Technology (continued) | |||
Fidelity National Information Services | 17,594 | $2,427,972 | |
HP | 15,500 | 449,035 | |
International Business Machines | 3,320 | 394,848 | |
Lam Research | 790 | 448,080 | |
Maxim Integrated Products | 4,060 | 378,270 | |
Microsoft | 7,880 | 1,831,154 | |
Motorola Solutions | 25,000 | 4,387,000 | |
NetApp | 5,680 | 355,568 | |
NVIDIA | 1,120 | 614,410 | |
Oracle | 70,900 | 4,573,759 | |
Paychex | 3,360 | 305,995 | |
QUALCOMM | 2,940 | 400,399 | |
SAP | 9,530 | 1,173,529 | |
Western Union | 13,520 | 313,934 | |
33,726,215 | |||
Materials — 1.51% | |||
Air Liquide | 12,580 | 1,892,746 | |
Dow | 6,800 | 403,308 | |
DuPont de Nemours | 53,100 | 3,733,992 | |
6,030,046 | |||
Real Estate — 0.06% | |||
eXp World Holdings † | 4,100 | 247,599 | |
247,599 | |||
REIT Diversified — 0.51% | |||
Colony Capital | 27,469 | 162,616 | |
Cousins Properties | 10,762 | 360,957 | |
Gaming and Leisure Properties | 4,215 | 187,146 | |
Lexington Realty Trust | 21,593 | 231,477 | |
QTS Realty Trust Class A | 4,830 | 300,040 | |
VICI Properties | 28,381 | 808,859 | |
2,051,095 | |||
REIT Healthcare — 0.61% | |||
CareTrust REIT | 6,428 | 142,573 | |
Healthpeak Properties | 12,305 | 357,953 | |
Medical Properties Trust | 33,966 | 733,326 | |
National Health Investors | 1,935 | 132,102 | |
Omega Healthcare Investors | 8,400 | 311,976 | |
Ventas | 4,419 | 233,765 | |
Welltower | 8,012 | 544,015 | |
2,455,710 |
NQ-129 [2/21] 4/21 (1595594) 21
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
REIT Hotel — 0.06% | |||
Host Hotels & Resorts | 13,096 | $217,263 | |
217,263 | |||
REIT Industrial — 0.57% | |||
Americold Realty Trust | 5,365 | 187,990 | |
Duke Realty | 10,450 | 410,162 | |
Prologis | 16,392 | 1,623,955 | |
Terreno Realty | 1,318 | 73,861 | |
2,295,968 | |||
REIT Information Technology — 0.53% | |||
CyrusOne | 2,181 | 143,139 | |
Digital Realty Trust | 5,364 | 722,692 | |
Equinix | 1,944 | 1,260,373 | |
2,126,204 | |||
REIT Mall — 0.25% | |||
Simon Property Group | 8,934 | 1,008,827 | |
1,008,827 | |||
REIT Manufactured Housing — 0.21% | |||
Equity LifeStyle Properties | 6,293 | 387,964 | |
Sun Communities | 2,834 | 430,626 | |
818,590 | |||
REIT Mortgage — 0.08% | |||
AGNC Investment | 19,140 | 306,814 | |
306,814 | |||
REIT Multifamily — 1.60% | |||
Apartment Income REIT | 2,333 | 95,373 | |
AvalonBay Communities | 2,437 | 428,303 | |
Bluerock Residential Growth REIT | 41 | 440 | |
Camden Property Trust | 1,883 | 196,114 | |
Equity Residential | 74,902 | 4,899,340 | |
Essex Property Trust | 1,714 | 436,710 | |
Mid-America Apartment Communities | 808 | 108,862 | |
UDR | 6,072 | 249,984 | |
6,415,126 | |||
REIT Office — 0.24% | |||
Boston Properties | 5,340 | 529,354 | |
Douglas Emmett | 1,563 | 51,188 | |
Highwoods Properties | 8,170 | 326,473 |
22 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
REIT Office (continued) | |||
Piedmont Office Realty Trust Class A | 13 | $222 | |
SL Green Realty | 738 | 50,971 | |
958,208 | |||
REIT Self-Storage — 0.40% | |||
CubeSmart | 2,700 | 99,792 | |
Extra Space Storage | 4,308 | 541,515 | |
Life Storage | 2,593 | 217,553 | |
National Storage Affiliates Trust | 4,852 | 187,045 | |
Public Storage | 2,308 | 539,933 | |
1,585,838 | |||
REIT Shopping Center — 0.34% | |||
Brixmor Property Group | 13,268 | 261,114 | |
Federal Realty Investment Trust | 1,215 | 122,922 | |
Kimco Realty | 8,207 | 150,434 | |
Regency Centers | 4,809 | 263,437 | |
Retail Opportunity Investments | 8,919 | 141,009 | |
Urban Edge Properties | 11,236 | 185,394 | |
Weingarten Realty Investors | 8,904 | 226,073 | |
1,350,383 | |||
REIT Single Tenant — 0.30% | |||
Agree Realty | 2,880 | 185,933 | |
Four Corners Property Trust | 4,393 | 119,006 | |
Realty Income | 8,356 | 503,532 | |
Spirit Realty Capital | 6,348 | 273,091 | |
STORE Capital | 3,338 | 111,623 | |
1,193,185 | |||
REIT Specialty — 0.28% | |||
Invitation Homes | 19,104 | 556,691 | |
Iron Mountain | 11,380 | 395,910 | |
Outfront Media | 8,514 | 172,664 | |
1,125,265 | |||
Utilities — 1.06% | |||
Edison International | 72,600 | 3,919,674 | |
PPL | 11,830 | 309,828 | |
4,229,502 | |||
Total Common Stock (cost $200,602,428) | 222,142,119 | ||
NQ-129 [2/21] 4/21 (1595594) 23
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
Number of shares | Value (US $) | ||
Convertible Preferred Stock — 2.96% | |||
2020 Mandatory Exchangeable Trust 144A 6.50% exercise price $47.09, maturity date 5/16/23 # | 925 | $2,089,322 | |
AMG Capital Trust II 5.15% exercise price $195.47, maturity date 10/15/37 | 15,060 | 792,156 | |
Assurant 6.50% exercise price $106.55, maturity date 3/15/21 | 8,095 | 938,939 | |
Bank of America 7.25% exercise price $50.00 ** | 621 | 863,631 | |
El Paso Energy Capital Trust I 4.75% exercise price $34.49, maturity date 3/31/28 | 37,355 | 1,867,376 | |
Elanco Animal Health 5.00% exercise price $38.40, maturity date 2/1/23 | 26,756 | 1,347,700 | |
Essential Utilities 6.00% exercise price $42.29, maturity date 4/30/22 | 18,650 | 1,017,171 | |
Lyondellbasell Advanced Polymers 6.00% exercise price $52.33 ** | 2,119 | 2,247,200 | |
QTS Realty Trust 6.50% exercise price $46.72 ** | 4,904 | 690,777 | |
Total Convertible Preferred Stock (cost $9,882,583) | 11,854,272 | ||
Preferred Stock — 0.16% | |||
Bank of America 6.50% 10/23/24 μ, ψ | 440,000 | 490,732 | |
GMAC Capital Trust I 5.983% (LIBOR03M + 5.785%) 02/15/40 • | 5,000 | 129,750 | |
Washington Prime Group 6.875% 04/14/21 ψ | 4,347 | 30,212 | |
Total Preferred Stock (cost $676,450) | 650,694 | ||
Exchange-Traded Funds — 7.50% | |||
iShares Core MSCI Emerging Markets ETF | 154,400 | 9,994,312 | |
iShares Russell 1000 Growth ETF | 66,350 | 15,868,930 | |
iShares Trust iShares ESG Aware MSCI EAFE ETF | 3,570 | 264,251 | |
Vanguard FTSE Developed Markets ETF | 130 | 6,241 | |
Vanguard Mega Cap Growth ETF | 19,030 | 3,847,105 | |
Total Exchange-Traded Funds (cost $26,657,244) | 29,980,839 | ||
Limited Partnerships — 2.15% | |||
Merion Champion's Walk=, †, π | 2,790,000 | 2,255,436 | |
Merion Countryside=, †, π | 2,342,812 | 2,466,045 | |
Merion The Ledges=, †, π | 4,093,765 | 3,886,620 | |
Total Limited Partnerships (cost $5,600,501) | 8,608,101 |
24 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Principal amount° | Value (US $) | ||
Leveraged Non-Recourse Security — 0.00% | |||
JPMorgan Fixed Income Pass Through Trust Auction Series 2007-B 144A 0.241% 1/15/87 #, =, ♦ | 1,300,000 | $1,300 | |
Total Leveraged Non-Recourse Security (cost $1,105,000) | 1,300 |
Number of shares | |||
Short-Term Investments — 0.91% | |||
Money Market Mutual Funds — 0.91% | |||
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.01%) | 911,093 | 911,093 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.01%) | 911,093 | 911,093 | |
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.03%) | 911,093 | 911,093 | |
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.00%) | 911,093 | 911,093 | |
Total Short-Term Investments (cost $3,644,372) | 3,644,372 | ||
Total Value of Securities—99.86% (cost $363,156,444) | 399,342,956 | ||
Receivables and Other Assets Net of Liabilities—0.14% | 567,558 | ||
Net Assets Applicable to 28,032,859 Shares Outstanding—100.00% | $399,910,514 |
° | 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 February 28, 2021, the aggregate value of Rule 144A securities was $52,335,493, which represents 13.09% of the Fund's net assets. |
• | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at February 28, 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. |
NQ-129 [2/21] 4/21 (1595594) 25
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
μ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at February 28, 2021. Rate will reset at a future date. |
ψ | Perpetual security. Maturity date represents next call date. |
Δ | Securities have been classified by country of origin. |
† | Non-income producing security. |
** | 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 February 28, 2021, the aggregate value of restricted securities was $8,608,101, which represented 2.15% of the Fund’s net assets. See table on the next page for additional details on restricted securities. |
♦ | Pass Through Agreement. Security represents the contractual right to receive a proportionate amount of underlying payments due to the counterparty pursuant to various agreements related to the rescheduling of obligations and the exchange of certain notes. |
Restricted Securities | ||||||
Investments | Date of Acquisition | Cost | Value | |||
Merion Champion's Walk | 8/4/2017 | $1,997,801 | $2,043,424 | |||
Merion Champion's Walk | 2/13/2018 | 51,819 | 53,003 | |||
Merion Champion's Walk | 7/11/2018 | 54,590 | 53,003 | |||
Merion Champion's Walk | 10/22/2018 | 55,525 | 53,003 | |||
Merion Champion's Walk | 2/13/2019 | 56,439 | 53,003 | |||
Merion Countryside | 8/13/2020 | 0 | 2,466,045 | |||
Merion The Ledges | 9/26/2018 | 3,130,386 | 3,628,607 | |||
Merion The Ledges | 9/12/2019 | 130,411 | 140,734 | |||
Merion The Ledges | 2/1/2021 | 123,530 | 117,279 | |||
Total | $5,600,501 | $8,608,101 |
The following foreign currency exchange contracts, futures contracts, and swap contracts were outstanding at February 28, 2021:
Foreign Currency Exchange Contracts | ||||||||||||
Counterparty | Currency to Receive (Deliver) | In Exchange For | Settlement Date | Unrealized Appreciation | Unrealized Depreciation | |||||||
BNYM | DKK | (26,510) | USD | 4,356 | 3/1/21 | $55 | $— | |||||
BNYM | GBP | (3,221) | USD | 4,540 | 3/1/21 | 52 | — | |||||
BNYM | JPY | (2,829,316) | USD | 26,629 | 3/1/21 | 87 | — | |||||
BNYM | SEK | (112,438) | USD | 13,619 | 3/1/21 | 303 | — | |||||
CITI | MXN | 20,507 | USD | (1,000) | 3/26/21 | — | (23) | |||||
JPMCB | BRL | (1,878,568) | USD | 339,000 | 8/27/21 | 7,341 | — |
26 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Foreign Currency Exchange Contracts | ||||||||||||
Counterparty | Currency to Receive (Deliver) | In Exchange For | Settlement Date | Unrealized Appreciation | Unrealized Depreciation | |||||||
JPMCB | CNY | 2,612,131 | USD | (402,113) | 3/26/21 | $— | $(382) | |||||
JPMCB | EGP | 3,156,140 | USD | (197,505) | 4/1/21 | 1,807 | — | |||||
JPMCB | EUR | (1,257,925) | USD | 1,529,400 | 3/26/21 | 10,484 | — | |||||
JPMCB | KZT | 408,064,349 | USD | (969,704) | 3/26/21 | — | (1,902) | |||||
Total Foreign Currency Exchange Contracts | $20,129 | $(2,307) |
Futures Contracts Exchange-Traded | |||||||||||
Contracts to Buy (Sell) | Notional Amount | Notional Cost (Proceeds) | Expiration Date | Value/ Unrealized Appreciation | Variation Margin Due from (Due to) Brokers | ||||||
(9) | US Treasury 10 yr Notes | $(1,194,469) | $(1,208,087) | 6/21/21 | $13,618 | $(1,266) |
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 Brazil 9/20/25- Quarterly | 359,000 | 1.000% | $14,026 | $17,510 | $(3,484) | $— | ||||||
JPMCB-Republic of Turkey 12/20/25- Quarterly | 200,000 | 1.000% | 19,022 | 32,838 | (13,816) | — | ||||||
33,048 | 50,348 | (17,300) | — |
The use of foreign currency exchange contracts, futures contracts, and swap contracts involves elements of market risk and risks in excess of the amounts disclosed in these financial statements. The notional amounts and foreign currency
NQ-129 [2/21] 4/21 (1595594) 27
Schedule of investments
Delaware Wealth Builder Fund (Unaudited)
exchange contracts 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.
1A 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. |
2Notional amount shown is stated in USD unless noted that the swap is denominated in another currency. |
3Unrealized appreciation (depreciation) does not include periodic interest payments (receipt) on swap contracts accrued daily in the amount of $(1,087). |
Summary of abbreviations: |
AG – Aktiengesellschaft |
BB – Barclays Bank |
BNYM – Bank of New York Mellon |
CDS – Credit Default Swap |
CITI – Citigroup |
CLO – Collateralized Loan Obligation |
EAFE – Europe, Australasia, and Far East |
ESG – Environmental, Social and Governance |
ETF – Exchange-Traded Fund |
FTSE – Financial Times Stock Exchange |
GS – Goldman Sachs |
ICE – Intercontinental Exchange, Inc. |
JPM – JPMorgan |
JPMCB – JPMorgan Chase Bank |
LIBOR – London interbank offered rate |
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 |
28 NQ-129 [2/21] 4/21 (1595594)
(Unaudited)
Summary of abbreviations: (continued) |
S.F. – Single Family |
TBA – To be announced |
USBMMY3M – US Treasury 3 Month Bill Money Market Yield |
yr – Year |
Summary of currencies: |
BRL – Brazilian Real |
CNY – China Yuan Renminbi |
DKK – Danish Krone |
EGP – Egypt Pound |
EUR – European Monetary Unit |
GBP – British Pound Sterling |
JPY – Japanese Yen |
KZT – Kazakhstan Tenge |
MXN – Mexican Peso |
MYR – Malaysia Ringgit |
PEN – Peruvian Sol |
RON – Romania New Leu |
SEK – Swedish Krona |
USD – US Dollar |
UYU – Uruguay Peso |
NQ-129 [2/21] 4/21 (1595594) 29