Schedule of investments
Delaware Tax-Free Colorado Fund | November 30, 2021 (Unaudited) |
Principal amount° | Value (US $) | ||
Municipal Bonds — 100.20% | |||
Corporate Revenue Bonds — 2.74% | |||
Denver City & County | |||
(United Airlines Project) 5.00% 10/1/32 (AMT) | 415,000 | $ 438,908 | |
Public Authority for Colorado Energy Natural Gas Revenue | |||
6.50% 11/15/38 | 4,250,000 | 6,605,180 | |
7,044,088 | |||
Education Revenue Bonds — 13.50% | |||
Board of Governors of the Colorado State University System Enterprise Revenue | |||
Series A 5.00% 3/1/43 | 2,480,000 | 3,597,488 | |
Board of Trustees For Colorado Mesa University Enterprise Revenue | |||
Series B 5.00% 5/15/44 | 1,000,000 | 1,243,900 | |
Series B 5.00% 5/15/49 | 750,000 | 928,658 | |
Colorado Educational & Cultural Facilities Authority Revenue | |||
(Alexander Dawson School-Nevada Project) 5.00% 5/15/29 | 1,230,000 | 1,429,260 | |
(Aspen Ridge School Project) | |||
Series A 144A 5.00% 7/1/36 # | 500,000 | 542,545 | |
Series A 144A 5.25% 7/1/46 # | 1,350,000 | 1,459,026 | |
(Aspen View Academy Project) | |||
4.00% 5/1/51 | 500,000 | 551,825 | |
4.00% 5/1/61 | 750,000 | 820,703 | |
(Atlas Preparatory Charter School) 144A 5.25% 4/1/45 # | 1,300,000 | 1,354,236 | |
(Charter School Project) 5.00% 7/15/37 | 1,150,000 | 1,175,541 | |
(Community Leadership Academy, Inc. Second Campus Project) 7.45% 8/1/48 | 1,000,000 | 1,084,230 | |
(Global Village Academy) 144A 5.00% 12/1/50 # | 1,000,000 | 1,089,130 | |
(Liberty Common Charter School Project) Series A 5.00% 1/15/39 | 1,000,000 | 1,061,410 | |
(Littleton Preparatory Charter School Project) | |||
5.00% 12/1/33 | 450,000 | 462,447 | |
5.00% 12/1/42 | 540,000 | 552,728 | |
(Loveland Classical Schools Project) | |||
144A 5.00% 7/1/36 # | 625,000 | 689,650 | |
144A 5.00% 7/1/46 # | 500,000 | 543,380 | |
(Pinnacle Charter School Project) 5.00% 6/1/26 | 700,000 | 743,554 |
NQ-339 [11/21] 1/22 (1984253) 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 | |||
(Science Technology Engineering and Math School Project) | |||
5.00% 11/1/44 | 890,000 | $ 966,371 | |
5.00% 11/1/54 | 1,500,000 | 1,622,160 | |
(Skyview Charter School) | |||
144A 5.375% 7/1/44 # | 860,000 | 916,287 | |
144A 5.50% 7/1/49 # | 870,000 | 928,507 | |
(University of Denver Project) | |||
Series A 4.00% 3/1/35 | 400,000 | 454,836 | |
Series A 4.00% 3/1/36 | 550,000 | 624,410 | |
(University of Lab Charter School) 5.00% 12/15/45 | 500,000 | 555,850 | |
(Vail Mountain School Project) | |||
4.00% 5/1/46 | 80,000 | 84,140 | |
5.00% 5/1/31 | 1,000,000 | 1,122,030 | |
(Vega Collegiate Academy Project) | |||
Series A 144A 5.00% 2/1/34 # | 200,000 | 227,046 | |
Series A 144A 5.00% 2/1/61 # | 1,435,000 | 1,576,706 | |
State of Colorado Building ExcellentCertificates of Participation | |||
Series R 4.00% 3/15/45 | 1,000,000 | 1,171,240 | |
University of Colorado | |||
(University Enterprise Refunding Revenue) Series C-4 4.00% 6/1/51 | 4,250,000 | 5,061,665 | |
34,640,959 | |||
Electric Revenue Bonds — 6.57% | |||
Colorado Springs Utilities System Revenue | |||
Series B 4.00% 11/15/46 | 3,750,000 | 4,522,688 | |
Loveland Colorado Electric & Communications Enterprise Revenue | |||
Series A 5.00% 12/1/44 | 2,185,000 | 2,687,069 | |
Platte River Power Authority Revenue | |||
Series JJ 5.00% 6/1/27 | 3,300,000 | 3,938,352 | |
Puerto Rico Electric Power Authority Revenue | |||
Series A 5.05% 7/1/42 ‡ | 170,000 | 167,450 | |
Series AAA 5.25% 7/1/25 ‡ | 95,000 | 93,813 | |
Series CCC 5.25% 7/1/27 ‡ | 705,000 | 696,187 | |
Series WW 5.00% 7/1/28 ‡ | 660,000 | 650,100 | |
Series WW 5.25% 7/1/33 ‡ | 210,000 | 207,375 | |
Series WW 5.50% 7/1/17 ‡ | 460,000 | 445,625 | |
Series WW 5.50% 7/1/19 ‡ | 360,000 | 348,750 | |
Series XX 4.75% 7/1/26 ‡ | 105,000 | 103,031 |
2 NQ-339 [11/21] 1/22 (1984253)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Electric Revenue Bonds (continued) | |||
Puerto Rico Electric Power Authority Revenue | |||
Series XX 5.25% 7/1/40 ‡ | 1,840,000 | $ 1,817,000 | |
Series XX 5.75% 7/1/36 ‡ | 365,000 | 362,719 | |
Series ZZ 4.75% 7/1/27 ‡ | 85,000 | 83,406 | |
Series ZZ 5.00% 7/1/19 ‡ | 620,000 | 596,750 | |
Series ZZ 5.25% 7/1/24 ‡ | 140,000 | 138,250 | |
16,858,565 | |||
Healthcare Revenue Bonds — 23.41% | |||
Colorado Health Facilities Authority Revenue | |||
(AdventHealth Obligated Group) | |||
Series A 3.00% 11/15/51 | 4,325,000 | 4,595,702 | |
Series A 4.00% 11/15/43 | 4,000,000 | 4,695,720 | |
(American Baptist) | |||
7.625% 8/1/33 | 150,000 | 158,406 | |
8.00% 8/1/43 | 1,000,000 | 1,058,800 | |
(Bethesda Project) Series A-1 5.00% 9/15/48 | 2,250,000 | 2,591,415 | |
(Cappella of Grand Junction Project) 144A 5.00% 12/1/54 # | 2,070,000 | 2,109,599 | |
(Christian Living Community Project) | |||
5.25% 1/1/37 | 1,500,000 | 1,506,060 | |
6.375% 1/1/41 | 1,000,000 | 1,004,920 | |
(CommonSpirit Health) | |||
Series A-1 4.00% 8/1/39 | 2,000,000 | 2,331,700 | |
Series A-1 4.00% 8/1/44 | 2,000,000 | 2,298,900 | |
Series A-2 4.00% 8/1/49 | 3,000,000 | 3,420,450 | |
Series A-2 5.00% 8/1/39 | 1,505,000 | 1,873,394 | |
(Covenant Living Communities and Services) Series A 4.00% 12/1/40 | 1,250,000 | 1,446,600 | |
(Covenant Retirement Communities) 5.00% 12/1/35 | 1,000,000 | 1,121,270 | |
(Craig Hospital Project) 5.00% 12/1/32 | 3,500,000 | 3,626,595 | |
(Frasier Meadows Retirement Community Project) Series B 5.00% 5/15/48 | 660,000 | 703,263 | |
(Frasier Project) Series A 4.00% 5/15/48 | 1,000,000 | 1,048,680 | |
(Mental Health Center Denver Project) Series A 5.75% 2/1/44 | 2,000,000 | 2,151,800 |
NQ-339 [11/21] 1/22 (1984253) 3
Schedule of investments
Delaware Tax-Free Colorado Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Colorado Health Facilities Authority Revenue | |||
(National Jewish Health Project) 5.00% 1/1/27 | 300,000 | $ 300,993 | |
(Sanford Health) Series A 5.00% 11/1/44 | 4,500,000 | 5,593,185 | |
(SCL Health System) | |||
Series A 4.00% 1/1/37 | 2,150,000 | 2,540,956 | |
Series A 4.00% 1/1/38 | 3,895,000 | 4,592,166 | |
Series A 5.00% 1/1/44 | 3,050,000 | 3,318,979 | |
(Sunny Vista Living Center) Series A 144A 6.25% 12/1/50 # | 935,000 | 913,963 | |
(Vail Valley Medical Center Project) 5.00% 1/15/35 | 1,000,000 | 1,151,960 | |
(Valley View Hospital Association Project) Series A 4.00% 5/15/35 | 685,000 | 770,406 | |
Denver Health & Hospital Authority Health Care Revenue | |||
Series A 4.00% 12/1/39 | 1,000,000 | 1,160,440 | |
Series A 4.00% 12/1/40 | 250,000 | 289,645 | |
Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | |||
(Hospital Auxilio Mutuo Obligated Group Project) | |||
4.00% 7/1/36 | 210,000 | 243,033 | |
4.00% 7/1/39 | 210,000 | 241,433 | |
5.00% 7/1/30 | 290,000 | 367,647 | |
5.00% 7/1/32 | 475,000 | 609,054 | |
5.00% 7/1/35 | 190,000 | 241,272 | |
60,078,406 | |||
Lease Revenue Bonds — 1.74% | |||
Colorado Department of Transportation | |||
Certificates of Participation | |||
5.00% 6/15/34 | 660,000 | 774,054 | |
5.00% 6/15/36 | 1,055,000 | 1,233,232 | |
Denver Health & Hospital Authority | |||
4.00% 12/1/38 | 750,000 | 860,310 | |
Regional Transportation District Certificates of Participation | |||
Series A 5.00% 6/1/33 | 1,500,000 | 1,591,365 | |
4,458,961 | |||
Local General Obligation Bonds — 9.60% | |||
Adams & Weld Counties School District No. 27J Brighton | |||
4.00% 12/1/30 | 300,000 | 339,285 | |
4.00% 12/1/31 | 1,000,000 | 1,129,680 |
4 NQ-339 [11/21] 1/22 (1984253)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Local General Obligation Bonds (continued) | |||
Arapahoe County School District No. 6 Littleton | |||
(Littleton Public Schools) | |||
Series A 5.50% 12/1/33 | 1,000,000 | $ 1,307,650 | |
Series A 5.50% 12/1/38 | 350,000 | 454,892 | |
Beacon Point Metropolitan District | |||
5.00% 12/1/30 (AGM) | 1,130,000 | 1,318,574 | |
Boulder Valley School District No. Re-2 Boulder | |||
Series A 4.00% 12/1/48 | 1,370,000 | 1,594,803 | |
Commerce City Northern Infrastructure General Improvement District | |||
5.00% 12/1/32 (AGM) | 2,125,000 | 2,222,474 | |
El Paso County School District No 2. Harrison | |||
5.00% 12/1/38 | 1,000,000 | 1,256,830 | |
Grand River Hospital District | |||
5.25% 12/1/35 (AGM) | 1,000,000 | 1,223,500 | |
Jefferson County School District No. R-1 | |||
5.25% 12/15/24 | 1,250,000 | 1,433,450 | |
Leyden Rock Metropolitan District No. 10 | |||
Series A 5.00% 12/1/45 | 1,000,000 | 1,030,000 | |
Sierra Ridge Metropolitan District No. 2 | |||
Series A 5.50% 12/1/46 | 1,000,000 | 1,031,720 | |
Verve Metropolitan District No. 1 | |||
5.00% 12/1/51 | 2,000,000 | 2,190,880 | |
Weld County Reorganized School District No. Re-8 | |||
5.00% 12/1/31 | 990,000 | 1,191,822 | |
5.00% 12/1/32 | 660,000 | 793,828 | |
Weld County School District No. Re-1 | |||
5.00% 12/15/31 (AGM) | 1,000,000 | 1,194,760 | |
Weld County School District No. Re-2 Eaton | |||
Series 2 5.00% 12/1/44 | 2,000,000 | 2,545,480 | |
Weld County School District No. Re-3J | |||
5.00% 12/15/34 (BAM) | 2,000,000 | 2,388,420 | |
24,648,048 | |||
Pre-Refunded Bonds — 12.59% | |||
Central Colorado Water Conservancy District | |||
(Limited Tax) 5.00% 12/1/33-23 § | 1,000,000 | 1,093,340 | |
Colorado Educational & Cultural Facilities Authority Revenue | |||
(Johnson & Wales University) Series A 5.25% 4/1/37-23 § | 1,790,000 | 1,904,846 |
NQ-339 [11/21] 1/22 (1984253) 5
Schedule of investments
Delaware Tax-Free Colorado Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Pre-Refunded Bonds (continued) | |||
Colorado Health Facilities Authority Revenue | |||
(Catholic Health Initiatives) Series A 5.25% 1/1/45-23 § | 2,000,000 | $ 2,107,060 | |
(Covenant Retirement Communities) Series A 5.00% 12/1/33-22 § | 4,000,000 | 4,192,160 | |
(NCMC Project) 4.00% 5/15/32-26 § | 2,000,000 | 2,294,420 | |
(The Evangelical Lutheran Good Samaritan Society Project) 5.625% 6/1/43-23 § | 1,150,000 | 1,242,759 | |
Denver City & County Airport System Revenue | |||
Series B 5.00% 11/15/30-22 § | 250,000 | 261,363 | |
Series B 5.00% 11/15/32-22 § | 1,000,000 | 1,045,450 | |
Series B 5.00% 11/15/37-22 § | 8,000,000 | 8,363,600 | |
Eaton Area Park & Recreation District | |||
5.25% 12/1/34-22 § | 360,000 | 378,004 | |
5.50% 12/1/38-22 § | 700,000 | 736,750 | |
Guam Government Business Privilege Tax Revenue | |||
Series A 5.125% 1/1/42-22 § | 1,795,000 | 1,802,072 | |
Series A 5.25% 1/1/36-22 § | 1,675,000 | 1,681,767 | |
Pueblo County Certificates of Participation | |||
(County Judicial Complex Project) 5.00% 9/15/42-22 (AGM) § | 300,000 | 311,397 | |
Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | |||
(Auxilio Mutuo) Series A 6.00% 7/1/33-21 § | 1,945,000 | 1,950,932 | |
Tallyn's Reach Metropolitan District No. 3 | |||
5.125% 11/1/38-23 § | 740,000 | 805,475 | |
University of Colorado | |||
Series A 5.00% 6/1/33-23 § | 2,000,000 | 2,142,640 | |
32,314,035 | |||
Special Tax Revenue Bonds — 17.14% | |||
Broomfield Colorado Sales & Use Tax Revenue | |||
5.00% 12/1/33 | 1,000,000 | 1,232,550 | |
Central Platte Valley Metropolitan District | |||
5.00% 12/1/43 | 725,000 | 760,612 | |
Commerce City | |||
5.00% 8/1/44 (AGM) | 1,500,000 | 1,654,800 | |
Denver Convention Center Hotel Authority Revenue | |||
5.00% 12/1/40 | 2,660,000 | 3,043,572 |
6 NQ-339 [11/21] 1/22 (1984253)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Special Tax Revenue Bonds (continued) | |||
Fountain Urban Renewal Authority Tax Increment Revenue | |||
(Academy Highlands Project) Series A 5.50% 11/1/44 | 1,375,000 | $ 1,449,484 | |
GDB Debt Recovery Authority | |||
(Taxable) 7.50% 8/20/40 | 7,970,000 | 7,511,725 | |
Lincoln Park Metropolitan District | |||
5.00% 12/1/46 (AGM) | 1,000,000 | 1,188,240 | |
Plaza Metropolitan District No. 1 | |||
144A 5.00% 12/1/40 # | 1,265,000 | 1,291,312 | |
Prairie Center Metropolitan District No. 3 | |||
Series A 144A 5.00% 12/15/41 # | 1,000,000 | 1,088,240 | |
Pueblo Urban Renewal Authority Revenue | |||
(EVRAZ Project) Series B 144A 5.00% 12/1/25 #, ^ | 200,000 | 175,610 | |
Puerto Rico Sales Tax Financing Revenue | |||
(Capital Appreciation - Restructured) | |||
Series A-1 4.566% 7/1/46 ^ | 7,325,000 | 2,449,480 | |
Series A-1 4.903% 7/1/51 ^ | 2,500,000 | 605,100 | |
(Restructured) | |||
Series A-1 4.75% 7/1/53 | 4,045,000 | 4,584,239 | |
Series A-1 5.00% 7/1/58 | 3,122,000 | 3,584,212 | |
Series A-2 4.536% 7/1/53 | 3,000,000 | 3,361,260 | |
Regional Transportation District Sales Tax Revenue | |||
(FasTracks Project) | |||
Series A 5.00% 11/1/30 | 670,000 | 804,683 | |
Series A 5.00% 11/1/31 | 1,495,000 | 1,794,733 | |
Series A 5.00% 11/1/36 | 2,750,000 | 3,273,572 | |
Solaris Metropolitan District No. 3 | |||
Series A 5.00% 12/1/46 | 500,000 | 516,210 | |
Southlands Metropolitan District No. 1 | |||
Series A-1 5.00% 12/1/37 | 300,000 | 341,553 | |
Series A-1 5.00% 12/1/47 | 700,000 | 785,295 | |
Thornton Development Authority | |||
(East 144th Avenue I-25 Project) | |||
Series B 5.00% 12/1/35 | 485,000 | 543,389 | |
Series B 5.00% 12/1/36 | 810,000 | 906,755 | |
Virgin Islands Public Finance Authority | |||
(Matching Fund Loan Senior Lien) 5.00% 10/1/29 (AGM) | 1,000,000 | 1,038,320 | |
43,984,946 |
NQ-339 [11/21] 1/22 (1984253) 7
Schedule of investments
Delaware Tax-Free Colorado Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
State General Obligation Bonds — 2.70% | |||
Commonwealth of Puerto Rico | |||
(Public Improvement) | |||
Series A 5.00% 7/1/41 ‡ | 680,000 | $ 612,000 | |
Series A 5.375% 7/1/33 ‡ | 675,000 | 664,875 | |
Series A 5.50% 7/1/39 ‡ | 2,950,000 | 2,780,375 | |
Series A 8.00% 7/1/35 ‡ | 1,215,000 | 1,066,163 | |
Series B 5.75% 7/1/38 ‡ | 960,000 | 933,600 | |
Series C 6.00% 7/1/39 ‡ | 890,000 | 872,200 | |
6,929,213 | |||
Transportation Revenue Bonds — 6.18% | |||
Colorado High Performance Transportation Enterprise Revenue | |||
(C-470 Express Lanes) 5.00% 12/31/56 | 2,000,000 | 2,254,220 | |
(Senior U.S. 36 & I-25 Managed Lanes) 5.75% 1/1/44 (AMT) | 2,140,000 | 2,261,145 | |
Denver City & County Airport System Revenue | |||
Series A 4.00% 12/1/48 (AMT) | 400,000 | 452,748 | |
Series A 5.00% 11/15/30 (AMT) | 1,500,000 | 1,826,550 | |
Series A 5.00% 12/1/48 (AMT) | 2,000,000 | 2,417,100 | |
E-470 Public Highway Authority | |||
Series A 5.00% 9/1/34 | 900,000 | 1,164,339 | |
Series A 5.00% 9/1/35 | 400,000 | 516,712 | |
Series A 5.00% 9/1/36 | 1,300,000 | 1,676,298 | |
Regional Transportation District | |||
(Denver Transit Partners Eagle P3 Project) | |||
Series A 4.00% 7/15/39 | 1,000,000 | 1,305,480 | |
Series A 4.00% 7/15/40 | 1,500,000 | 1,973,505 | |
15,848,097 | |||
Water & Sewer Revenue Bonds — 4.03% | |||
Arapahoe County Water & Wastewater Authority | |||
4.00% 12/1/37 | 1,000,000 | 1,205,070 | |
4.00% 12/1/38 | 1,845,000 | 2,219,572 | |
Central Weld County Water District | |||
4.00% 12/1/39 (AGM) | 1,150,000 | 1,381,069 | |
Dominion Water & Sanitation District | |||
6.00% 12/1/46 | 725,000 | 741,893 | |
Douglas County Centennial Water & Sanitation District | |||
4.00% 12/1/38 | 500,000 | 589,395 | |
Guam Government Waterworks Authority Water & Wastewater System Revenue | |||
5.00% 7/1/37 | 675,000 | 783,634 |
8 NQ-339 [11/21] 1/22 (1984253)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Water & Sewer Revenue Bonds (continued) | |||
Johnstown Wastewater Revenue | |||
4.00% 12/1/51 (AGM) | 1,000,000 | $ 1,195,110 | |
Metro Wastewater Reclamation District | |||
Series A 5.00% 4/1/33 | 1,000,000 | 1,303,970 | |
Morgan County Quality Water District | |||
4.00% 12/1/50 (AGM) | 790,000 | 920,216 | |
10,339,929 | |||
Total Municipal Bonds (cost $240,296,846) | 257,145,247 | ||
Short-Term Investments — 0.08% | |||
Variable Rate Demand Note — 0.08%¤ | |||
Denver City & County | |||
Series A1 0.04% 12/1/29 (SPA - JPMorgan Chase Bank, N.A.) | 200,000 | 200,000 | |
Total Short-Term Investments (cost $200,000) | 200,000 | ||
Total Value of Securities—100.28% (cost $240,496,846) | 257,345,247 | ||
Liabilities Net of Receivables and Other Assets—(0.28)% | (716,507) | ||
Net Assets Applicable to 22,038,031 Shares Outstanding—100.00% | $256,628,740 |
° | 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 November 30, 2021, the aggregate value of Rule 144A securities was $14,905,237, which represents 5.81% of the Fund's net assets. |
‡ | Non-income producing security. Security is currently in default. |
§ | 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. |
^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
¤ | Tax-exempt obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid principal balance plus accrued interest upon a short notice period (generally up to 30 days) prior to specified dates either from the issuer or by drawing on a bank letter of credit, a guarantee, or insurance issued with respect to such instrument. Each rate shown is as of November 30, 2021. |
Summary of abbreviations: |
AGM – Insured by Assured Guaranty Municipal Corporation |
NQ-339 [11/21] 1/22 (1984253) 9
Schedule of investments
Delaware Tax-Free Colorado Fund (Unaudited)
Summary of abbreviations: (continued) |
AMT – Subject to Alternative Minimum Tax |
BAM – Insured by Build America Mutual Assurance |
N.A. – National Association |
SPA – Stand-by Purchase Agreement |
USD – US Dollar |
10 NQ-339 [11/21] 1/22 (1984253)