Schedule of investments
Delaware Global Listed Real Assets Fund | July 31, 2023 (Unaudited) |
Principal amount° | Value (US $) | ||
Corporate Bonds — 11.92% | |||
Basic Industry — 1.40% | |||
Chemours 144A 4.625% 11/15/29 # | 394,000 | $ 332,918 | |
First Quantum Minerals 144A 6.875% 3/1/26 # | 200,000 | 197,487 | |
FMG Resources August 2006 | |||
144A 5.875% 4/15/30 # | 100,000 | 96,012 | |
144A 6.125% 4/15/32 # | 100,000 | 96,108 | |
Freeport-McMoRan 5.45% 3/15/43 | 235,000 | 219,088 | |
Novelis | |||
144A 3.875% 8/15/31 # | 255,000 | 212,607 | |
144A 4.75% 1/30/30 # | 140,000 | 125,970 | |
Univar Solutions USA 144A 5.125% 12/1/27 # | 265,000 | 271,792 | |
Vibrantz Technologies 144A 9.00% 2/15/30 # | 120,000 | 98,104 | |
1,650,086 | |||
Capital Goods — 0.88% | |||
Ball 3.125% 9/15/31 | 415,000 | 341,072 | |
Clean Harbors 144A 5.125% 7/15/29 # | 195,000 | 186,007 | |
GFL Environmental 144A 5.125% 12/15/26 # | 160,000 | 155,747 | |
Sealed Air | |||
144A 4.00% 12/1/27 # | 175,000 | 161,385 | |
144A 5.00% 4/15/29 # | 200,000 | 186,882 | |
1,031,093 | |||
Communications — 2.67% | |||
CCO Holdings 144A 5.375% 6/1/29 # | 340,000 | 311,016 | |
CMG Media 144A 8.875% 12/15/27 # | 210,000 | 164,157 | |
CSC Holdings 144A 3.375% 2/15/31 # | 200,000 | 138,718 | |
Cumulus Media New Holdings 144A 6.75% 7/1/26 # | 43,000 | 32,309 | |
DISH DBS 144A 5.75% 12/1/28 # | 209,000 | 161,221 | |
Frontier Communications Holdings 144A 5.875% 10/15/27 # | 293,000 | 268,645 | |
Gray Escrow II 144A 5.375% 11/15/31 # | 380,000 | 265,548 | |
Lamar Media 3.75% 2/15/28 | 175,000 | 160,265 | |
LCPR Senior Secured Financing DAC 144A 6.75% 10/15/27 # | 194,000 | 181,640 | |
Nexstar Media 144A 5.625% 7/15/27 # | 213,000 | 200,437 | |
Outfront Media Capital 144A 4.625% 3/15/30 # | 245,000 | 205,188 | |
Sirius XM Radio 144A 5.50% 7/1/29 # | 300,000 | 274,371 | |
Sprint Capital 8.75% 3/15/32 | 65,000 | 78,376 | |
T-Mobile USA | |||
3.375% 4/15/29 | 60,000 | 54,053 | |
4.75% 2/1/28 | 105,000 | 102,419 | |
Virgin Media Secured Finance 144A 5.50% 5/15/29 # | 400,000 | 369,634 |
NQ- 095 [0723] 0923 (3108062) 1
Schedule of investments
Delaware Global Listed Real Assets Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Communications (continued) | |||
Vmed O2 UK Financing I 144A 4.25% 1/31/31 # | 200,000 | $ 165,794 | |
3,133,791 | |||
Consumer Cyclical — 1.69% | |||
Carnival | |||
144A 5.75% 3/1/27 # | 230,000 | 212,959 | |
144A 6.00% 5/1/29 # | 130,000 | 116,973 | |
144A 7.625% 3/1/26 # | 190,000 | 187,609 | |
Hilton Domestic Operating | |||
144A 4.00% 5/1/31 # | 85,000 | 74,218 | |
4.875% 1/15/30 | 200,000 | 187,683 | |
Lennar 5.00% 6/15/27 | 95,000 | 93,830 | |
Murphy Oil USA 144A 3.75% 2/15/31 # | 321,000 | 272,738 | |
Royal Caribbean Cruises 144A 5.50% 4/1/28 # | 490,000 | 462,274 | |
VICI Properties 144A 5.75% 2/1/27 # | 216,000 | 213,307 | |
Wyndham Hotels & Resorts 144A 4.375% 8/15/28 # | 175,000 | 160,317 | |
1,981,908 | |||
Consumer Non-Cyclical — 1.33% | |||
CHS 144A 5.25% 5/15/30 # | 313,000 | 250,475 | |
HCA | |||
3.50% 9/1/30 | 10,000 | 8,795 | |
5.375% 2/1/25 | 70,000 | 69,616 | |
5.875% 2/1/29 | 305,000 | 307,970 | |
JBS USA Lux 144A 5.50% 1/15/30 # | 289,000 | 279,787 | |
Pilgrim's Pride 144A 5.875% 9/30/27 # | 332,000 | 328,681 | |
Tenet Healthcare | |||
4.25% 6/1/29 | 204,000 | 183,011 | |
6.875% 11/15/31 | 135,000 | 135,325 | |
1,563,660 | |||
Electric — 1.06% | |||
Calpine | |||
144A 5.00% 2/1/31 # | 35,000 | 29,492 | |
144A 5.125% 3/15/28 # | 345,000 | 313,242 | |
NRG Energy 144A 3.625% 2/15/31 # | 190,000 | 149,278 | |
PG&E 5.25% 7/1/30 | 85,000 | 76,415 | |
TerraForm Power Operating 144A 4.75% 1/15/30 # | 308,000 | 272,066 |
2 NQ- 095 [0723] 0923 (3108062)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Electric (continued) | |||
Vistra Operations | |||
144A 5.00% 7/31/27 # | 70,000 | $ 66,022 | |
144A 5.50% 9/1/26 # | 70,000 | 67,759 | |
144A 5.625% 2/15/27 # | 275,000 | 266,202 | |
1,240,476 | |||
Energy — 1.94% | |||
Callon Petroleum 144A 8.00% 8/1/28 # | 85,000 | 86,262 | |
CNX Resources | |||
144A 6.00% 1/15/29 # | 265,000 | 248,099 | |
144A 7.25% 3/14/27 # | 10,000 | 10,011 | |
Crestwood Midstream Partners | |||
144A 5.625% 5/1/27 # | 82,000 | 77,975 | |
144A 6.00% 2/1/29 # | 209,000 | 197,175 | |
DCP Midstream Operating 5.125% 5/15/29 | 210,000 | 206,063 | |
EQM Midstream Partners 144A 4.75% 1/15/31 # | 320,000 | 285,985 | |
Genesis Energy 6.50% 10/1/25 | 265,000 | 262,757 | |
Hilcorp Energy I 144A 6.00% 4/15/30 # | 100,000 | 92,523 | |
Marathon Oil 4.40% 7/15/27 | 75,000 | 71,867 | |
Murphy Oil | |||
5.875% 12/1/27 | 195,000 | 193,054 | |
6.375% 7/15/28 | 105,000 | 104,634 | |
NuStar Logistics | |||
6.00% 6/1/26 | 90,000 | 88,656 | |
6.375% 10/1/30 | 80,000 | 77,228 | |
Occidental Petroleum | |||
6.60% 3/15/46 | 55,000 | 58,338 | |
6.625% 9/1/30 | 40,000 | 41,987 | |
Targa Resources Partners 4.875% 2/1/31 | 195,000 | 181,271 | |
2,283,885 | |||
Real Estate Investment Trusts — 0.07% | |||
HAT Holdings I 144A 3.75% 9/15/30 # | 100,000 | 80,091 | |
80,091 | |||
Technology — 0.29% | |||
Iron Mountain 144A 4.50% 2/15/31 # | 395,000 | 340,923 | |
340,923 | |||
Transportation — 0.59% | |||
Air Canada 144A 3.875% 8/15/26 # | 255,000 | 236,869 | |
American Airlines 144A 5.75% 4/20/29 # | 309,402 | 299,844 |
NQ- 095 [0723] 0923 (3108062) 3
Schedule of investments
Delaware Global Listed Real Assets Fund (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Transportation (continued) | |||
Delta Air Lines | |||
144A 7.00% 5/1/25 # | 82,000 | $ 83,938 | |
7.375% 1/15/26 | 67,000 | 69,615 | |
690,266 | |||
Total Corporate Bonds (cost $15,151,810) | 13,996,179 | ||
Non-Agency Commercial Mortgage-Backed Securities — 1.58% | |||
Cantor Commercial Real Estate Lending Series 2019-CF1 B 4.178% 5/15/52 • | 200,000 | 162,003 | |
Citigroup Commercial Mortgage Trust Series 2019-C7 A4 3.102% 12/15/72 | 600,000 | 521,703 | |
Goldman Sachs Mortgage Securities Trust Series 2017-GS6 B 3.869% 5/10/50 | 730,000 | 621,915 | |
Morgan Stanley Capital I Trust Series 2016-BNK2 B 3.485% 11/15/49 | 740,000 | 552,810 | |
Total Non-Agency Commercial Mortgage-Backed Securities (cost $2,372,747) | 1,858,431 | ||
Loan Agreements — 2.16% | |||
Air Canada 8.839% (LIBOR03M + 3.50%) 8/11/28 • | 178,647 | 179,019 | |
Calpine | |||
7.433% (SOFR01M + 2.00%) 4/5/26 • | 314,881 | 314,996 | |
7.933% (SOFR01M + 2.50%) 12/16/27 • | 80,933 | 80,962 | |
Calpine Construction Finance Tranche B 7.433% (LIBOR01M + 2.00%) 1/15/25 • | 122,322 | 121,634 | |
Castlelake Aviation One DAC 8.302% (LIBOR03M + 2.75%) 10/22/26 • | 221,063 | 221,252 | |
Charter Communications Operating Tranche B2 7.067% - 7.116% (SOFR01M + 1.75%) 2/1/27 • | 254,857 | 253,424 | |
CSC Holdings 9.722% (SOFR01M + 4.50%) 1/18/28 • | 245,289 | 225,819 | |
Hamilton Projects Acquiror 9.933% (SOFR01M + 4.61%) 6/17/27 • | 252,974 | 251,045 | |
Lamar Media Tranche B 6.905% (SOFR01M + 1.60%) 2/5/27 • | 169,139 | 167,025 | |
Parkway Generation Tranche B 10.275% (SOFR03M + 5.01%) 2/16/29 • | 157,281 | 155,462 | |
Parkway Generation Tranche C 10.275% (SOFR03M + 5.01%) 2/16/29 • | 20,735 | 20,472 | |
Pilot Travel Centers Tranche B 7.319% (SOFR01M + 2.00%) 8/4/28 • | 171,062 | 171,053 |
4 NQ- 095 [0723] 0923 (3108062)
(Unaudited)
Principal amount° | Value (US $) | ||
Loan Agreements (continued) | |||
Setanta Aircraft Leasing DAC 7.538% (LIBOR03M + 2.00%) 11/5/28 • | 125,000 | $ 125,203 | |
Sinclair Television Group Tranche B-3 8.433% (SOFR01M + 3.11%) 4/1/28 • | 98,000 | 78,327 | |
Vistra Operations 7.183% (SOFR01M + 1.75%) 12/31/25 • | 163,481 | 163,509 | |
Total Loan Agreements (cost $2,552,921) | 2,529,202 | ||
Sovereign Bonds — 10.32%Δ | |||
Australia — 0.31% | |||
Australia Government Bonds | |||
0.75% 11/21/27 | AUD | 270,296 | 212,449 |
2.50% 9/20/30 | AUD | 147,520 | 146,805 |
359,254 | |||
Canada — 0.75% | |||
Canadian Government Real Return Bonds | |||
4.00% 12/1/31 | CAD | 572,111 | 508,489 |
4.25% 12/1/26 | CAD | 457,633 | 370,740 |
879,229 | |||
France — 2.43% | |||
French Republic Government Bond OAT | |||
144A 0.10% 3/1/26 # | EUR | 1,083,010 | 1,177,669 |
0.10% 3/1/28 | EUR | 542,391 | 588,599 |
0.10% 3/1/29 | EUR | 594,584 | 644,203 |
144A 0.10% 3/1/36 # | EUR | 128,050 | 133,054 |
144A 0.10% 7/25/38 # | EUR | 182,538 | 187,084 |
144A 0.10% 7/25/47 # | EUR | 91,384 | 89,178 |
144A 0.10% 7/25/53 # | EUR | 36,760 | 35,505 |
2,855,292 | |||
Germany — 1.30% | |||
Deutsche Bundesrepublik Inflation Linked Bonds | |||
0.10% 4/15/26 | EUR | 1,159,681 | 1,258,632 |
0.50% 4/15/30 | EUR | 239,907 | 271,372 |
1,530,004 | |||
Italy — 0.91% | |||
Italy Buoni Poliennali Del Tesoro | |||
144A 0.10% 5/15/33 # | EUR | 510,460 | 477,131 |
144A 1.30% 5/15/28 # | EUR | 319,490 | 349,762 |
NQ- 095 [0723] 0923 (3108062) 5
Schedule of investments
Delaware Global Listed Real Assets Fund (Unaudited)
Principal amount° | Value (US $) | ||
Sovereign BondsΔ (continued) | |||
Italy (continued) | |||
Italy Buoni Poliennali Del Tesoro | |||
144A 2.55% 9/15/41 # | EUR | 202,425 | $ 245,660 |
1,072,553 | |||
Japan — 0.37% | |||
Japanese Government CPI Linked Bond 0.10% 3/10/29 | JPY | 58,100,900 | 430,453 |
430,453 | |||
Spain — 0.38% | |||
Spain Government Inflation Linked Bond 144A 1.00% 11/30/30 # | EUR | 408,823 | 452,486 |
452,486 | |||
United Kingdom — 3.87% | |||
United Kingdom Inflation-Linked Gilt | |||
0.125% 3/22/29 | GBP | 326,107 | 404,020 |
0.125% 8/10/41 | GBP | 365,978 | 405,778 |
0.125% 3/22/46 | GBP | 328,437 | 340,792 |
0.125% 3/22/51 | GBP | 418,162 | 418,607 |
0.125% 11/22/56 | GBP | 151,745 | 148,249 |
0.125% 11/22/65 | GBP | 89,345 | 86,354 |
0.125% 3/22/68 | GBP | 142,635 | 138,255 |
0.125% 3/22/73 | GBP | 87,398 | 90,206 |
0.375% 3/22/62 | GBP | 248,896 | 264,986 |
0.50% 3/22/50 | GBP | 266,790 | 298,165 |
0.625% 11/22/42 | GBP | 355,932 | 428,170 |
1.125% 11/22/37 | GBP | 303,220 | 405,494 |
1.25% 11/22/27 | GBP | 71,940 | 93,744 |
1.25% 11/22/32 | GBP | 740,809 | 1,014,665 |
4,537,485 | |||
Total Sovereign Bonds (cost $13,632,830) | 12,116,756 | ||
US Treasury Obligations — 9.91% | |||
US Treasury Inflation Indexed Bonds | |||
0.125% 2/15/51 | 245,777 | 159,383 | |
0.125% 2/15/52 | 230,410 | 148,629 | |
0.75% 2/15/42 | 367,708 | 307,938 | |
0.75% 2/15/45 | 552,121 | 447,158 | |
1.00% 2/15/49 | 275,682 | 231,580 | |
2.125% 2/15/40 | 193,616 | 204,881 |
6 NQ- 095 [0723] 0923 (3108062)
(Unaudited)
Principal amount° | Value (US $) | ||
US Treasury Obligations (continued) | |||
US Treasury Inflation Indexed Notes | |||
0.125% 10/15/25 | 1,791,218 | $ 1,702,133 | |
0.125% 7/15/30 | 1,864,319 | 1,675,269 | |
0.375% 1/15/27 | 3,374,551 | 3,173,914 | |
0.625% 1/15/26 | 2,867,043 | 2,738,266 | |
1.125% 1/15/33 | 433,410 | 414,454 | |
US Treasury Note 3.375% 5/15/33 | 452,700 | 431,869 | |
Total US Treasury Obligations (cost $12,112,388) | 11,635,474 |
Number of shares | |||
Closed-Ended Trust — 0.52% | |||
Sprott Physical Uranium Trust † | 46,548 | 605,038 | |
Total Closed-Ended Trust (cost $545,279) | 605,038 |
Common Stocks — 61.78% | |||
Consumer Staples — 1.85% | |||
Archer-Daniels-Midland | 7,260 | 616,810 | |
Bunge | 7,695 | 836,216 | |
Darling Ingredients † | 10,421 | 721,654 | |
2,174,680 | |||
Energy — 9.75% | |||
BP ADR | 21,264 | 793,147 | |
Chesapeake Energy | 8,619 | 726,927 | |
Chord Energy | 3,288 | 515,690 | |
Denbury † | 5,756 | 506,010 | |
Enbridge | 27,334 | 1,004,931 | |
Kimbell Royalty Partners | 53,396 | 844,191 | |
Occidental Petroleum | 12,721 | 803,077 | |
Parex Resources | 18,147 | 401,982 | |
Permian Resources | 37,973 | 443,904 | |
Schlumberger | 15,232 | 888,635 | |
Shell | 45,383 | 1,378,012 | |
TC Energy | 28,043 | 1,005,052 | |
Unit | 14,008 | 658,376 | |
Valaris † | 5,933 | 455,654 | |
Valero Energy | 7,925 | 1,021,612 | |
11,447,200 |
NQ- 095 [0723] 0923 (3108062) 7
Schedule of investments
Delaware Global Listed Real Assets Fund (Unaudited)
Number ofshares | Value (US $) | ||
Common Stocks (continued) | |||
Home builders — 0.24% | |||
China Resources Land | 10,000 | $ 46,288 | |
Lifestyle Communities | 7,107 | 82,873 | |
Sekisui House | 4,000 | 81,510 | |
Sumitomo Forestry | 3,100 | 74,719 | |
285,390 | |||
Industrials — 9.37% | |||
ALEATICA † | 1,002,354 | 2,051,399 | |
Arcosa | 12,043 | 929,479 | |
Atlas Arteria | 226,416 | 955,085 | |
CCR | 340,835 | 956,464 | |
East Japan Railway | 17,000 | 962,296 | |
Enav 144A # | 225,845 | 969,428 | |
GrafTech International | 54,321 | 286,815 | |
Li-Cycle Holdings † | 52,432 | 316,165 | |
Net Power † | 13,553 | 161,958 | |
NuScale Power † | 32,586 | 247,002 | |
Sacyr | 293,480 | 1,002,893 | |
Sunrun † | 13,755 | 261,070 | |
Transurban Group | 100,658 | 969,556 | |
Vinci | 7,941 | 932,310 | |
11,001,920 | |||
Information Technology — 1.12% | |||
Cellnex Telecom 144A # | 28,760 | 1,174,427 | |
NEXTDC † | 16,589 | 142,071 | |
1,316,498 | |||
Materials — 9.02% | |||
Alcoa | 18,824 | 681,241 | |
Anglo American | 24,221 | 744,151 | |
CF Industries Holdings | 14,526 | 1,192,294 | |
Corteva | 9,697 | 547,202 | |
Endeavour Mining | 14,667 | 353,870 | |
ERO Copper † | 31,695 | 761,940 | |
Glencore | 115,123 | 699,637 | |
Hudbay Minerals | 110,597 | 658,052 | |
Kinross Gold | 118,641 | 590,832 | |
Louisiana-Pacific | 6,678 | 508,396 | |
Newmont | 27,563 | 1,183,004 | |
Nutrien | 14,178 | 976,722 | |
Sylvamo | 7,517 | 368,859 | |
United States Steel | 9,359 | 238,655 |
8 NQ- 095 [0723] 0923 (3108062)
(Unaudited)
Number ofshares | Value (US $) | ||
Common Stocks (continued) | |||
Materials (continued) | |||
Wheaton Precious Metals | 24,060 | $ 1,078,610 | |
10,583,465 | |||
Real Estate — 0.86% | |||
Weyerhaeuser | 29,508 | 1,005,042 | |
1,005,042 | |||
Real Estate Operating Companies/Developer — 0.81% | |||
Corp Inmobiliaria Vesta ADR | 5,249 | 190,381 | |
Mitsubishi Estate | 32,500 | 396,813 | |
Sumitomo Realty & Development | 13,500 | 361,164 | |
948,358 | |||
REIT Diversified — 2.52% | |||
CapitaLand Ascendas REIT | 168,100 | 355,225 | |
Charter Hall Group | 16,807 | 129,036 | |
CK Asset Holdings | 20,027 | 115,557 | |
DigitalBridge Group | 6,025 | 96,521 | |
Fastighets Balder Class B † | 19,720 | 92,058 | |
Inmobiliaria Colonial Socimi | 18,968 | 122,421 | |
Land Securities Group | 19,763 | 164,199 | |
Mapletree Logistics Trust | 248,900 | 316,331 | |
Mapletree Pan Asia Commercial Trust | 146,300 | 181,534 | |
Nomura Real Estate Master Fund | 238 | 283,060 | |
Shaftesbury Capital | 41,744 | 64,179 | |
Sun Hung Kai Properties | 39,956 | 499,777 | |
United Urban Investment | 269 | 290,244 | |
Wharf Real Estate Investment | 45,000 | 240,899 | |
2,951,041 | |||
REIT Healthcare — 2.20% | |||
Aedifica | 926 | 63,634 | |
Alexandria Real Estate Equities | 4,551 | 571,970 | |
Healthcare Realty Trust | 12,333 | 240,863 | |
HealthCo REIT | 77,996 | 74,656 | |
Healthpeak Properties | 16,774 | 366,176 | |
Welltower | 15,349 | 1,260,920 | |
2,578,219 | |||
REIT Hotel — 0.38% | |||
Ryman Hospitality Properties | 3,129 | 298,162 | |
Xenia Hotels & Resorts | 11,811 | 150,000 | |
448,162 |
NQ- 095 [0723] 0923 (3108062) 9
Schedule of investments
Delaware Global Listed Real Assets Fund (Unaudited)
Number ofshares | Value (US $) | ||
Common Stocks (continued) | |||
REIT Industrial — 2.91% | |||
Americold Realty Trust | 16,082 | $ 521,378 | |
Goodman Group | 22,700 | 313,186 | |
Mitsubishi Estate Logistics REIT Investment | 59 | 168,791 | |
Nippon Prologis REIT | 154 | 314,679 | |
Prologis | 11,222 | 1,399,944 | |
Rexford Industrial Realty | 4,895 | 269,666 | |
Segro | 23,063 | 225,832 | |
Warehouses De Pauw CVA | 6,943 | 205,197 | |
3,418,673 | |||
REIT Information Technology — 2.33% | |||
American Tower | 1,191 | 226,659 | |
Digital Realty Trust | 8,072 | 1,005,933 | |
Equinix | 1,848 | 1,496,732 | |
2,729,324 | |||
REIT Mall — 0.25% | |||
Simon Property Group | 2,307 | 287,452 | |
287,452 | |||
REIT Manufactured Housing — 0.75% | |||
Equity LifeStyle Properties | 6,576 | 468,079 | |
Sun Communities | 3,199 | 416,830 | |
884,909 | |||
REIT Multifamily — 2.17% | |||
American Homes 4 Rent Class A | 9,944 | 372,701 | |
Boardwalk Real Estate Investment Trust | 3,135 | 155,746 | |
Canadian Apartment Properties REIT | 7,017 | 273,571 | |
CapitaLand Ascott Trust | 3,757 | 3,164 | |
Equity Residential | 7,391 | 487,363 | |
Gecina | 1,532 | 165,664 | |
InterRent Real Estate Investment Trust | 13,079 | 127,056 | |
LEG Immobilien † | 1,825 | 129,144 | |
UDR | 7,639 | 312,282 | |
UNITE Group | 19,668 | 245,720 | |
Vonovia | 11,965 | 279,423 | |
2,551,834 | |||
REIT Office — 0.64% | |||
Castellum | 8,818 | 100,483 | |
Derwent London | 2,867 | 77,855 | |
Fabege | 9,905 | 85,816 | |
Japan Real Estate Investment | 72 | 289,488 |
10 NQ- 095 [0723] 0923 (3108062)
(Unaudited)
Number ofshares | Value (US $) | ||
Common Stocks (continued) | |||
REIT Office (continued) | |||
Tokyu REIT | 107 | $ 141,473 | |
Wihlborgs Fastigheter | 7,242 | 56,621 | |
751,736 | |||
REIT Retail — 0.26% | |||
Link REIT | 54,534 | 305,223 | |
305,223 | |||
REIT Self-Storage — 1.70% | |||
Big Yellow Group | 12,488 | 171,964 | |
Extra Space Storage | 8,153 | 1,137,914 | |
National Storage REIT | 83,007 | 129,353 | |
Public Storage | 1,977 | 557,020 | |
1,996,251 | |||
REIT Shopping Center — 1.44% | |||
Agree Realty | 9,211 | 596,689 | |
Federal Realty Investment Trust | 3,918 | 397,755 | |
Kite Realty Group Trust | 26,426 | 604,627 | |
Unibail-Rodamco-Westfield † | 1,576 | 89,344 | |
1,688,415 | |||
REIT Single Tenant — 0.97% | |||
Realty Income | 18,707 | 1,140,566 | |
1,140,566 | |||
REIT Specialty — 0.61% | |||
Invitation Homes | 20,163 | 715,787 | |
715,787 | |||
Utilities — 9.63% | |||
APA Group | 89,887 | 603,771 | |
Enel | 143,199 | 987,509 | |
Hydro One 144A # | 32,532 | 917,750 | |
National Grid | 72,842 | 964,265 | |
Orsted 144A # | 10,667 | 930,494 | |
Pennon Group | 101,331 | 914,203 | |
PPL | 37,086 | 1,020,978 | |
Severn Trent | 28,636 | 938,595 | |
Snam | 186,044 | 978,184 | |
Spruce Power Holding † | 180,178 | 174,773 | |
SSE | 42,265 | 914,228 | |
Terna - Rete Elettrica Nazionale | 115,990 | 980,458 |
NQ- 095 [0723] 0923 (3108062) 11
Schedule of investments
Delaware Global Listed Real Assets Fund (Unaudited)
Number ofshares | Value (US $) | ||
Common Stocks (continued) | |||
Utilities (continued) | |||
United Utilities Group | 76,263 | $ 977,743 | |
11,302,951 | |||
Total Common Stocks (cost $68,280,172) | 72,513,096 | ||
Short-Term Investments — 1.43% | |||
Money Market Mutual Funds — 1.43% | |||
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.15%) | 420,343 | 420,343 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.16%) | 420,343 | 420,343 | |
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.29%) | 420,343 | 420,343 | |
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.19%) | 420,343 | 420,343 | |
Total Short-Term Investments (cost $1,681,372) | 1,681,372 | ||
Total Value of Securities—99.62% (cost $116,329,519) | 116,935,548 | ||
Receivables and Other Assets Net of Liabilities—0.38%★ | 444,344 | ||
Net Assets Applicable to 9,603,899 Shares Outstanding—100.00% | $117,379,892 |
° | 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 July 31, 2023, the aggregate value of Rule 144A securities was $17,762,419, which represents 15.13% of the Fund's net assets. |
• | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at July 31, 2023. 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. SOFR01M, SOFR03M, 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. |
12 NQ- 095 [0723] 0923 (3108062)
(Unaudited)
Δ | Securities have been classified by country of risk. |
† | Non-income producing security. |
★ | Includes $18,791 cash collateral held at broker for futures contracts as of July 31, 2023. |
The following foreign currency exchange contracts and futures contracts were outstanding at July 31, 2023:
Foreign Currency Exchange Contracts | ||||||||||||
Counterparty | Currency to Receive (Deliver) | In Exchange For | Settlement Date | Unrealized Appreciation | Unrealized Depreciation | |||||||
CITI | CAD | (1,178,866) | USD | 881,310 | 8/25/23 | $— | $(13,003) | |||||
CITI | GBP | 217,916 | USD | (270,535) | 8/25/23 | 9,165 | — | |||||
HSBC | AUD | (388,304) | USD | 261,248 | 8/25/23 | 172 | — | |||||
HSBC | EUR | 169,655 | USD | (183,581) | 8/25/23 | 3,206 | — | |||||
HSBC | GBP | (84,588) | USD | 105,876 | 8/25/23 | — | (2,695) | |||||
JPMCB | EUR | (5,563,175) | USD | 6,115,859 | 8/25/23 | — | (9,086) | |||||
JPMCB | GBP | (3,599,689) | USD | 4,462,957 | 8/25/23 | — | (157,331) | |||||
TD | JPY | (59,377,590) | USD | 450,192 | 8/25/23 | 31,003 | — | |||||
Total Foreign Currency Exchange Contracts | $43,546 | $(182,115) |
Futures Contracts Exchange-Traded | |||||||||||||
Contracts to Buy (Sell) | Notional Amount | Notional Cost (Proceeds) | Expiration Date | Value/ Unrealized Appreciation | Value/ Unrealized Depreciation | Variation Margin Due from (Due to) Brokers | |||||||
2 | Canadian Treasury 10 yr Bonds | $182,156 | $185,968 | 9/20/23 | $— | $(3,812) | $62 | ||||||
2 | Euro-Bund | 292,467 | 298,013 | 9/7/23 | — | (5,546) | 58 | ||||||
1 | Long 10 yr Gilt | 123,369 | 121,702 | 9/27/23 | 1,667 | — | 241 | ||||||
Total Futures Contracts | $605,683 | $1,667 | $(9,358) | $361 |
The use of foreign currency exchange contracts and futures contracts involves elements of market risk and risks in excess of the amounts disclosed in the schedule of investments. The foreign currency exchange contracts and notional amounts 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.
Summary of abbreviations: |
ADR – American Depositary Receipt |
NQ- 095 [0723] 0923 (3108062) 13
Schedule of investments
Delaware Global Listed Real Assets Fund (Unaudited)
Summary of abbreviations: (continued) |
CITI – Citigroup |
CPI – Consumer Price Index |
CVA – Certified Dutch Certificate |
DAC – Designated Activity Company |
HSBC – Hongkong and Shanghai Bank |
ICE – Intercontinental Exchange, Inc. |
JPMCB – JPMorgan Chase Bank |
LIBOR – London Interbank Offered Rate |
LIBOR01M – ICE LIBOR USD 1 Month |
LIBOR03M – ICE LIBOR USD 3 Month |
OAT – Obligations Assimilables du Tresor |
REIT – Real Estate Investment Trust |
SOFR01M – Secured Overnight Financing Rate 1 Month |
SOFR03M – Secured Overnight Financing Rate 3 Month |
TD – TD Bank |
yr – Year |
Summary of currencies: |
AUD – Australian Dollar |
CAD – Canadian Dollar |
EUR – European Monetary Unit |
GBP – British Pound Sterling |
JPY – Japanese Yen |
USD – US Dollar |
14 NQ- 095 [0723] 0923 (3108062)