Schedule of investments
Delaware Tax-Free Colorado Fund May 31, 2020 (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds – 97.47% | |||
Corporate Revenue Bonds - 1.41% | |||
Denver City & County | |||
(United Airlines Project) 5.00% 10/1/32 (AMT) | 415,000 | $ | 412,709 |
Public Authority for Colorado Energy Natural Gas Revenue | |||
6.50% 11/15/38 | 1,750,000 | 2,624,720 | |
3,037,429 | |||
Education Revenue Bonds - 12.01% | |||
Board of Governors of the Colorado State University | |||
System Enterprise Revenue | |||
Series A 5.00% 3/1/43 | 2,480,000 | 3,613,286 | |
Board of Trustees For Colorado Mesa University Enterprise | |||
Revenue | |||
Series B 5.00% 5/15/44 | 1,000,000 | 1,244,570 | |
Series B 5.00% 5/15/49 | 750,000 | 928,147 | |
Colorado Educational & Cultural Facilities Authority | |||
Revenue | |||
(Alexander Dawson School-Nevada Project) 5.00% | |||
5/15/29 | 1,230,000 | 1,453,761 | |
(Aspen Ridge School Project) | |||
Series A 144A 5.00% 7/1/36 # | 500,000 | 485,460 | |
Series A 144A 5.25% 7/1/46 # | 1,350,000 | 1,296,257 | |
(Atlas Preparatory Charter School) 144A 5.25% 4/1/45 # | 1,300,000 | 1,211,262 | |
(Charter School Project) 5.00% 7/15/37 | 1,150,000 | 1,217,804 | |
(Community Leadership Academy, Inc. Second Campus | |||
Project) 7.45% 8/1/48 | 1,000,000 | 1,085,700 | |
(Johnson & Wales University) Series A 5.25% 4/1/37 | 1,790,000 | 1,897,167 | |
(Liberty Common Charter School Project) Series A | |||
5.00% 1/15/39 | 1,000,000 | 1,075,550 | |
(Littleton Preparatory Charter School Project) | |||
5.00% 12/1/33 | 450,000 | 451,674 | |
5.00% 12/1/42 | 540,000 | 522,299 | |
(Loveland Classical Schools Project) | |||
144A 5.00% 7/1/36 # | 625,000 | 603,537 | |
144A 5.00% 7/1/46 # | 500,000 | 455,270 | |
(Pinnacle Charter School Project) 5.00% 6/1/26 | 700,000 | 761,677 | |
(Science Technology Engineering and Math School | |||
Project) | |||
5.00% 11/1/54 | 1,500,000 | 1,560,105 | |
5.00% 11/1/44 | 890,000 | 931,394 | |
(Skyview Charter School) | |||
144A 5.375% 7/1/44 # | 860,000 | 842,336 | |
144A 5.50% 7/1/49 # | 870,000 | 860,004 |
NQ- 339 [5/20] 7/20 (1236711) 1
Schedule of investments
Delaware Tax-Free Colorado Fund (Unaudited)
Principal amount° | Value (US $) | |||
Municipal Bonds (continued) | ||||
Education Revenue Bonds (continued) | ||||
Colorado Educational & Cultural Facilities Authority | ||||
Revenue | ||||
(University of Denver Project) | ||||
Series A 4.00% 3/1/35 | 400,000 | $ | 445,172 | |
Series A 4.00% 3/1/36 | 550,000 | 609,873 | ||
(University of Lab Charter School) 5.00% 12/15/45 | 500,000 | 526,795 | ||
(Vail Mountain School Project) | ||||
4.00% 5/1/46 | 80,000 | 74,284 | ||
5.00% 5/1/31 | 1,000,000 | 1,020,460 | ||
(Windsor Charter Academy Project) 144A 5.00% | ||||
9/1/46 # | 890,000 | 811,253 | ||
25,985,097 | ||||
Electric Revenue Bonds - 3.91% | ||||
Loveland Colorado Electric & Communications Enterprise | ||||
Revenue | ||||
Series A 5.00% 12/1/44 | 2,185,000 | 2,711,192 | ||
Platte River Power Authority Revenue | ||||
Series JJ 5.00% 6/1/27 | 3,300,000 | 4,125,627 | ||
Puerto Rico Electric Power Authority Revenue | ||||
Series A 5.05% 7/1/42 ‡ | 170,000 | 104,975 | ||
Series AAA 5.25% 7/1/25 ‡ | 95,000 | 58,900 | ||
Series CCC 5.25% 7/1/27 ‡ | 705,000 | 437,100 | ||
Series WW 5.00% 7/1/28 ‡ | 660,000 | 407,550 | ||
Series XX 4.75% 7/1/26 ‡ | 105,000 | 64,313 | ||
Series XX 5.25% 7/1/40 ‡ | 295,000 | 182,900 | ||
Series XX 5.75% 7/1/36 ‡ | 365,000 | 228,125 | ||
Series ZZ 4.75% 7/1/27 ‡ | 85,000 | 52,063 | ||
Series ZZ 5.25% 7/1/24 ‡ | 140,000 | 86,800 | ||
8,459,545 | ||||
Healthcare Revenue Bonds - 25.63% | ||||
Colorado Health Facilities Authority Revenue | ||||
(AdventHealth Obligated Group) Series A 4.00% | ||||
11/15/43 | 4,000,000 | 4,443,640 | ||
(American Baptist) | ||||
7.625% 8/1/33 | 150,000 | 155,799 | ||
8.00% 8/1/43 | 1,000,000 | 1,043,120 | ||
(Bethesda Project) Series A-1 5.00% 9/15/48 | 2,250,000 | 2,322,225 | ||
(Cappella of Grand Junction Project) 144A 5.00% | ||||
12/1/54 # | 1,000,000 | 873,250 | ||
(Christian Living Community Project) | ||||
5.25% 1/1/37 | 1,500,000 | 1,420,440 | ||
6.375% 1/1/41 | 1,000,000 | 1,023,040 |
2 NQ- 339 [5/20] 7/20 (1236711)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Colorado Health Facilities Authority Revenue | |||
(CommonSpirit Health) | |||
Series A-1 4.00% 8/1/39 | 2,000,000 | $ | 2,065,240 |
Series A-1 4.00% 8/1/44 | 2,000,000 | 2,048,120 | |
Series A-2 4.00% 8/1/49 | 3,000,000 | 3,054,810 | |
Series A-2 5.00% 8/1/38 | 1,500,000 | 1,708,785 | |
Series A-2 5.00% 8/1/39 | 1,500,000 | 1,702,860 | |
(Covenant Retirement Communities) | |||
Series A 5.00% 12/1/33 | 4,000,000 | 4,057,120 | |
Series A 5.00% 12/1/35 | 1,000,000 | 1,021,260 | |
(Craig Hospital Project) 5.00% 12/1/32 | 3,500,000 | 3,751,300 | |
(Frasier Meadows Retirement Community Project) | |||
Series A 5.25% 5/15/37 | 485,000 | 466,555 | |
Series B 5.00% 5/15/48 | 660,000 | 575,064 | |
(Mental Health Center Denver Project) | |||
Series A 5.75% 2/1/44 | 2,000,000 | 2,073,880 | |
(National Jewish Health Project) 5.00% 1/1/27 | 300,000 | 314,190 | |
(Sanford Health) Series A 5.00% 11/1/44 | 4,500,000 | 5,195,880 | |
(SCL Health System) | |||
Series A 4.00% 1/1/37 | 2,150,000 | 2,389,553 | |
Series A 4.00% 1/1/38 | 3,895,000 | 4,303,196 | |
Series A 5.00% 1/1/44 | 3,050,000 | 3,288,998 | |
(Sunny Vista Living Center) | |||
Series A 144A 6.25% 12/1/50 # | 935,000 | 936,290 | |
(Vail Valley Medical Center Project) 5.00% 1/15/35 | 1,000,000 | 1,149,390 | |
(Valley View Hospital Association Project) Series A | |||
4.00% 5/15/35 | 685,000 | 750,965 | |
Denver Health & Hospital Authority Health Care Revenue | |||
Series A 4.00% 12/1/39 | 1,000,000 | 1,044,450 | |
Series A 4.00% 12/1/40 | 250,000 | 260,415 | |
Puerto Rico Industrial Tourist Educational Medical & | |||
Environmental Control Facilities Financing Authority | |||
(Auxilio Mutuo) Series A 6.00% 7/1/33 | 1,945,000 | 2,007,493 | |
55,447,328 | |||
Housing Revenue Bonds - 0.09% | |||
Colorado Housing and Finance Authority | |||
(Single Family Program Class 1) | |||
Series AA 4.50% 5/1/23 (GNMA) | 95,000 | 96,189 | |
Series AA 4.50% 11/1/23 (GNMA) | 95,000 | 96,180 | |
192,369 |
NQ- 339 [5/20] 7/20 (1236711) 3
Schedule of investments
Delaware Tax-Free Colorado Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Lease Revenue Bonds - 2.10% | |||
Colorado Department of Transportation | |||
Certificates of Participation | |||
5.00% 6/15/34 | 660,000 | $ | 806,804 |
5.00% 6/15/36 | 1,055,000 | 1,285,549 | |
Denver Health & Hospital Authority | |||
4.00% 12/1/38 | 750,000 | 783,233 | |
Regional Transportation District Certificates of | |||
Participation | |||
Series A 5.00% 6/1/33 | 1,500,000 | 1,664,265 | |
4,539,851 | |||
Local General Obligation Bonds - 11.67% | |||
Adams & Weld Counties School District No. 27J Brighton | |||
4.00% 12/1/30 | 300,000 | 345,195 | |
4.00% 12/1/31 | 1,000,000 | 1,147,950 | |
Arapahoe County School District No. 6 Littleton | |||
(Littleton Public Schools) | |||
Series A 5.50% 12/1/33 | 1,000,000 | 1,339,570 | |
Series A 5.50% 12/1/38 | 350,000 | 458,847 | |
Beacon Point Metropolitan District | |||
5.00% 12/1/30 (AGM) | 1,130,000 | 1,353,423 | |
Boulder Valley School District No. Re-2 Boulder | |||
Series A 4.00% 12/1/48 | 1,370,000 | 1,585,926 | |
Central Colorado Water Conservancy District | |||
(Limited Tax) 5.00% 12/1/33 | 1,000,000 | 1,142,650 | |
Commerce City Northern Infrastructure General | |||
Improvement District | |||
5.00% 12/1/32 (AGM) | 2,125,000 | 2,359,557 | |
Denver International Business Center | |||
Metropolitan District No. 1 | |||
5.00% 12/1/30 | 350,000 | 353,699 | |
Eaton Area Park & Recreation District | |||
5.25% 12/1/34 | 360,000�� | 364,529 | |
5.50% 12/1/38 | 455,000 | 462,944 | |
El Paso County School District No 2. Harrison | |||
5.00% 12/1/38 | 1,000,000 | 1,275,020 | |
Grand River Hospital District | |||
5.25% 12/1/35 (AGM) | 1,000,000 | 1,168,790 | |
Jefferson County School District No. R-1 | |||
5.25% 12/15/24 | 1,250,000 | 1,522,975 | |
Leyden Rock Metropolitan District No. 10 | |||
Series A 5.00% 12/1/45 | 1,000,000 | 998,770 |
4 NQ- 339 [5/20] 7/20 (1236711)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Local General Obligation Bonds (continued) | |||
Sierra Ridge Metropolitan District No. 2 | |||
Series A 5.50% 12/1/46 | 1,000,000 | $ | 1,002,940 |
Weld County Reorganized School District No. Re-8 | |||
5.00% 12/1/31 | 990,000 | 1,246,380 | |
5.00% 12/1/32 | 660,000 | 829,494 | |
Weld County School District No. Re-1 | |||
5.00% 12/15/31 (AGM) | 1,000,000 | 1,253,020 | |
Weld County School District No. Re-2 Eaton | |||
5.00% 12/1/44 | 2,000,000 | 2,553,300 | |
Weld County School District No. Re-3J | |||
5.00% 12/15/34 (BAM) | 2,000,000 | 2,481,720 | |
25,246,699 | |||
Pre-Refunded Bonds - 6.91% | |||
Colorado Health Facilities Authority Revenue | |||
(Catholic Health Initiatives) | |||
Series A 5.00% 2/1/41-21 § | 2,250,000 | 2,320,853 | |
Series A 5.25% 2/1/33-21 § | 1,000,000 | 1,033,140 | |
Series A 5.25% 1/1/45-23 § | 2,000,000 | 2,242,160 | |
(NCMC Project) 4.00% 5/15/32-26 § | 2,000,000 | 2,398,360 | |
(The Evangelical Lutheran Good Samaritan Society | |||
Project) 5.625% 6/1/43-23 § | 1,150,000 | 1,335,587 | |
(Total Long-Term Care National Obligated Group | |||
Project) Series A 6.25% 11/15/40-20 § | 750,000 | 769,823 | |
Denver Health & Hospital Authority Health Care Revenue | |||
(Recovery Zone Facilities) 5.625% 12/1/40-20 § | 2,500,000 | 2,566,350 | |
University of Colorado | |||
Series A 5.00% 6/1/33-23 § | 2,000,000 | 2,285,440 | |
14,951,713 | |||
Special Tax Revenue Bonds - 19.62% | |||
Broomfield Colorado Sales & Use Tax Revenue | |||
5.00% 12/1/33 | 1,000,000 | 1,263,390 | |
Central Platte Valley Metropolitan District | |||
5.00% 12/1/43 | 725,000 | 734,505 | |
Commerce City | |||
5.00% 8/1/44 (AGM) | 1,500,000 | 1,727,265 | |
Denver Convention Center Hotel Authority Revenue | |||
5.00% 12/1/40 | 2,660,000 | 2,764,405 | |
Denver International Business Center | |||
Metropolitan District No. 1 | |||
5.375% 12/1/35 | 1,750,000 | 1,768,130 | |
Fountain Urban Renewal Authority Tax Increment Revenue | |||
(Academy Highlands Project) Series A 5.50% 11/1/44 | 1,375,000 | 1,323,080 |
NQ- 339 [5/20] 7/20 (1236711) 5
Schedule of investments
Delaware Tax-Free Colorado Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Special Tax Revenue Bonds (continued) | |||
Guam Government Business Privilege Tax Revenue | |||
Series A 5.125% 1/1/42 | 1,250,000 | $ | 1,268,625 |
Series A 5.25% 1/1/36 | 1,675,000 | 1,707,964 | |
Lincoln Park Metropolitan District | |||
5.00% 12/1/46 (AGM) | 1,000,000 | 1,204,630 | |
Plaza Metropolitan District No. 1 | |||
144A 5.00% 12/1/40 # | 1,265,000 | 1,265,025 | |
Prairie Center Metropolitan District No. 3 | |||
Series A 144A 5.00% 12/15/41 # | 1,000,000 | 944,170 | |
Puerto Rico Sales Tax Financing Revenue | |||
(Restructured) | |||
Series A-1 4.75% 7/1/53 | 3,445,000 | 3,360,666 | |
Series A-1 5.00% 7/1/58 | 3,122,000 | 3,132,178 | |
Series A-2 4.536% 7/1/53 | 3,000,000 | 2,821,950 | |
Regional Transportation District | |||
(Denver Transit Partners Eagle P3 Project) | |||
6.00% 1/15/34 | 1,450,000 | 1,452,987 | |
6.00% 1/15/41 | 2,400,000 | 2,404,944 | |
Certificates of Participation | |||
Series A 0.538% 6/1/31 | 1,540,000 | 1,540,000 | |
Regional Transportation District Sales Tax Revenue | |||
(FasTracks Project) | |||
Series A 5.00% 11/1/30 | 670,000 | 828,468 | |
Series A 5.00% 11/1/31 | 1,495,000 | 1,833,049 | |
Series A 5.00% 11/1/36 | 2,750,000 | 3,309,873 | |
Solaris Metropolitan District No. 3 | |||
(Limited Tax Convertible) Series A 5.00% 12/1/46 | 500,000 | 496,370 | |
Southlands Metropolitan District No. 1 | |||
Series A-1 5.00% 12/1/37 | 300,000 | 307,371 | |
Series A-1 5.00% 12/1/47 | 700,000 | 705,656 | |
Sterling Ranch Community Authority Board | |||
Series A 5.75% 12/1/45 | 975,000 | 997,571 | |
Tallyn’s Reach Metropolitan District No. 3 | |||
(Limited Tax Convertible) 5.125% 11/1/38 | 740,000 | 736,041 | |
Thornton Development Authority | |||
(East 144th Avenue & I-25 Project) | |||
Series B 5.00% 12/1/35 | 485,000 | 572,572 | |
Series B 5.00% 12/1/36 | 810,000 | 955,468 | |
Virgin Islands Public Finance Authority | |||
(Matching Fund Loan Senior Lien) | |||
5.00% 10/1/29 (AGM) | 1,000,000 | 1,014,230 | |
42,440,583 |
6 NQ- 339 [5/20] 7/20 (1236711)
(Unaudited)
Principal amount° | Value (US $) | |||
Municipal Bonds (continued) | ||||
State General Obligation Bonds - 1.20% | ||||
Commonwealth of Puerto Rico | ||||
Series A 5.00% 7/1/41 ‡ | 680,000 | $ | 378,250 | |
Series A 5.375% 7/1/33 ‡ | 675,000 | 420,187 | ||
Series A 8.00% 7/1/35 ‡ | 1,215,000 | 665,213 | ||
Series B 5.75% 7/1/38 ‡ | 960,000 | 586,800 | ||
Series C 6.00% 7/1/39 ‡ | 890,000 | 552,913 | ||
2,603,363 | ||||
Transportation Revenue Bonds - 10.36% | ||||
Colorado High Performance Transportation Enterprise | ||||
Revenue | ||||
(C-470 Express Lanes) 5.00% 12/31/56 | 2,000,000 | 1,941,120 | ||
(Senior U. S. 36 & I-25 Managed Lanes) | ||||
5.75% 1/1/44 (AMT) | 2,140,000 | 2,181,944 | ||
Denver City & County Airport System Revenue | ||||
Series A 4.00% 12/1/48 (AMT) | 400,000 | 426,684 | ||
Series A 5.00% 11/15/30 (AMT) | 1,750,000 | 2,102,503 | ||
Series A 5.00% 12/1/48 (AMT) | 2,000,000 | 2,314,160 | ||
Series B 5.00% 11/15/30 | 1,000,000 | 1,083,940 | ||
Series B 5.00% 11/15/32 | 1,000,000 | 1,079,160 | ||
Series B 5.00% 11/15/37 | 8,000,000 | 8,579,360 | ||
E-470 Public Highway Authority | ||||
Series C 5.25% 9/1/25 | 690,000 | 695,092 | ||
Series C 5.375% 9/1/26 | 2,000,000 | 2,014,820 | ||
22,418,783 | ||||
Water & Sewer Revenue Bonds - 2.56% | ||||
Arapahoe County Water & Wastewater Authority | ||||
4.00% 12/1/37 | 1,000,000 | 1,217,110 | ||
4.00% 12/1/38 | 1,845,000 | 2,229,129 | ||
Dominion Water & Sanitation District | ||||
6.00% 12/1/46 | 750,000 | 778,043 | ||
Douglas County Centennial Water & Sanitation District | ||||
4.00% 12/1/38 | 500,000 | 585,225 | ||
Guam Government Waterworks Authority Water & | ||||
Wastewater System Revenue | ||||
5.00% 7/1/37 | 675,000 | 731,086 | ||
5,540,593 | ||||
Total Municipal Bonds (cost $205,185,336) | 210,863,353 |
NQ- 339 [5/20] 7/20 (1236711) 7
Schedule of investments
Delaware Tax-Free Colorado Fund (Unaudited)
Number of shares | Value (US $) | ||
Short-Term Investment – 1.00% | |||
Money Market Mutual Fund - 1.00% | |||
Dreyfus AMT-Free Tax Exempt Cash Management Fund - | |||
Institutional Shares (seven-day effective yield -0.03%) | 2,168,006 | $ | 2,168,006 |
Total Short-Term Investment (cost $2,168,006) | 2,168,006 | ||
Total Value of Securities – 98.47% | |||
(cost $207,353,342) | 213,031,359 | ||
Receivables and Other Assets Net of Liabilities – 1.53% | 3,306,747 | ||
Net Assets Applicable to 19,567,876 Shares Outstanding – 100.00% | $ | 216,338,106 |
# | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. |
At May 31, 2020, the aggregate value of Rule 144A securities was $10,584,114, which represents | |
4.89% of the Fund’s net assets. | |
§ | Pre-refunded bonds. Municipal bonds that are generally backed or secured by US Treasury bonds. |
For pre-refunded bonds, the stated maturity is followed by the year in which the bond will be | |
pre-refunded. | |
° | Principal amount shown is stated in USD unless noted that the security is denominated in another |
currency. | |
‡ | Non-income producing security. Security is currently in default. |
Summary of abbreviations: | |
AGM – Insured by Assured Guaranty Municipal Corporation | |
AMT – Subject to Alternative Minimum Tax | |
BAM – Insured by Build America Mutual Assurance | |
GNMA – Government National Mortgage Association collateral | |
USD – US Dollar |
8 NQ- 339 [5/20] 7/20 (1236711)