Schedule of investments
Delaware Ivy Corporate Bond Fund
June 30, 2023 (Unaudited)
Principal amount° | Value (US $) | ||
Convertible Bond — 0.16% | |||
Spirit Airlines 1.00% exercise price $42.36, maturity date 5/15/26 | 626,000 | $ 508,938 | |
Total Convertible Bond (cost $569,773) | 508,938 |
Corporate Bonds — 97.36% | |||
Banking — 22.19% | |||
Bank of America | |||
1.898% 7/23/31 μ | 3,425,000 | 2,728,984 | |
2.299% 7/21/32 μ | 4,775,000 | 3,820,554 | |
2.482% 9/21/36 μ | 445,000 | 340,641 | |
2.496% 2/13/31 μ | 3,000,000 | 2,513,188 | |
2.592% 4/29/31 μ | 5,325,000 | 4,473,192 | |
4.20% 8/26/24 | 6,000,000 | 5,889,782 | |
Bank of New York Mellon 4.70% 9/20/25 μ, ψ | 1,245,000 | 1,212,319 | |
Barclays | |||
6.224% 5/9/34 μ | 985,000 | 981,737 | |
7.385% 11/2/28 μ | 24,000 | 25,019 | |
Citigroup | |||
2.572% 6/3/31 μ | 5,725,000 | 4,779,001 | |
4.412% 3/31/31 μ | 3,690,000 | 3,471,390 | |
Credit Agricole 144A 5.514% 7/5/33 # | 2,340,000 | 2,355,810 | |
Fifth Third Bancorp 6.361% 10/27/28 μ | 1,046,000 | 1,042,263 | |
Goldman Sachs Group | |||
2.383% 7/21/32 μ | 2,325,000 | 1,863,265 | |
3.50% 11/16/26 | 1,000,000 | 938,152 | |
3.80% 3/15/30 | 7,550,000 | 6,989,913 | |
4.25% 10/21/25 | 2,500,000 | 2,410,393 | |
JPMorgan Chase & Co. | |||
2.522% 4/22/31 μ | 4,165,000 | 3,525,223 | |
3.875% 9/10/24 | 1,964,000 | 1,918,192 | |
5.35% 6/1/34 μ | 230,000 | 231,928 | |
KeyBank 4.15% 8/8/25 | 250,000 | 231,136 | |
KeyCorp | |||
3.878% 5/23/25 μ | 875,000 | 809,436 | |
4.789% 6/1/33 μ | 104,000 | 87,236 | |
Morgan Stanley | |||
1.794% 2/13/32 μ | 4,475,000 | 3,473,728 | |
3.875% 1/27/26 | 4,150,000 | 4,007,475 | |
PNC Financial Services Group 5.068% 1/24/34 μ | 681,000 | 653,295 | |
Popular 7.25% 3/13/28 | 1,790,000 | 1,790,000 | |
SVB Financial Group 4.00% 5/15/26 ‡, ψ | 1,670,000 | 122,578 | |
Truist Financial | |||
4.95% 9/1/25 μ, ψ | 1,370,000 | 1,270,675 | |
6.123% 10/28/33 μ | 347,000 | 352,345 |
Principalamount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Banking (continued) | |||
US Bancorp | |||
2.491% 11/3/36 μ | 2,550,000 | $ 1,866,948 | |
5.836% 6/12/34 μ | 805,000 | 811,194 | |
Wells Fargo & Co. 2.879% 10/30/30 μ | 4,808,000 | 4,156,626 | |
71,143,618 | |||
Basic Industry — 0.90% | |||
Graphic Packaging International 144A 0.821% 4/15/24 # | 3,020,000 | 2,898,534 | |
2,898,534 | |||
Brokerage — 2.91% | |||
Blackstone Holdings Finance | |||
144A 1.60% 3/30/31 # | 1,250,000 | 928,653 | |
144A 2.00% 1/30/32 # | 4,240,000 | 3,162,254 | |
Intercontinental Exchange 2.10% 6/15/30 | 1,795,000 | 1,501,460 | |
Jefferies Financial Group 2.625% 10/15/31 | 1,530,000 | 1,187,559 | |
KKR Group Finance VIII 144A 3.50% 8/25/50 # | 3,750,000 | 2,557,425 | |
9,337,351 | |||
Capital Goods — 3.69% | |||
Ashtead Capital 144A 2.45% 8/12/31 # | 305,000 | 239,569 | |
Boeing 3.75% 2/1/50 | 2,025,000 | 1,522,050 | |
Masco 1.50% 2/15/28 | 2,775,000 | 2,364,773 | |
Parker-Hannifin 4.25% 9/15/27 | 295,000 | 286,272 | |
Raytheon Technologies | |||
5.15% 2/27/33 | 530,000 | 537,477 | |
5.375% 2/27/53 | 320,000 | 332,626 | |
Republic Services 2.30% 3/1/30 | 4,114,000 | 3,513,874 | |
Waste Connections 3.50% 5/1/29 | 3,300,000 | 3,037,973 | |
11,834,614 | |||
Communications — 11.49% | |||
AT&T | |||
3.50% 6/1/41 | 3,000,000 | 2,305,960 | |
3.50% 9/15/53 | 1,820,000 | 1,289,696 | |
3.65% 6/1/51 | 5,400,000 | 3,967,312 | |
CCO Holdings 144A 4.75% 2/1/32 # | 1,200,000 | 979,860 | |
Cellnex Finance 144A 3.875% 7/7/41 # | 890,000 | 652,898 | |
Charter Communications Operating | |||
3.85% 4/1/61 | 1,190,000 | 720,762 | |
3.90% 6/1/52 | 1,385,000 | 907,560 | |
4.50% 2/1/24 | 3,942,000 | 3,907,994 |
NQ- IV948 [0623] 0823 (3050918) 1
Schedule of investments
Delaware Ivy Corporate Bond Fund (Unaudited)
Principalamount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Communications (continued) | |||
Comcast | |||
2.887% 11/1/51 | 2,410,000 | $ 1,617,165 | |
3.25% 11/1/39 | 3,125,000 | 2,481,571 | |
Crown Castle 1.05% 7/15/26 | 3,000,000 | 2,628,641 | |
Directv Financing 144A 5.875% 8/15/27 # | 1,050,000 | 952,151 | |
Discovery Communications 4.00% 9/15/55 | 1,155,000 | 768,842 | |
Paramount Global 4.75% 5/15/25 | 1,332,000 | 1,300,929 | |
Sprint Capital 6.875% 11/15/28 | 1,335,000 | 1,416,293 | |
T-Mobile USA | |||
3.30% 2/15/51 | 575,000 | 403,870 | |
3.50% 4/15/25 | 2,350,000 | 2,260,590 | |
5.05% 7/15/33 | 1,140,000 | 1,119,843 | |
Verizon Communications | |||
2.875% 11/20/50 | 1,690,000 | 1,102,498 | |
4.329% 9/21/28 | 2,500,000 | 2,411,283 | |
4.50% 8/10/33 | 3,175,000 | 2,997,291 | |
VZ Secured Financing 144A 5.00% 1/15/32 # | 800,000 | 645,165 | |
36,838,174 | |||
Consumer Cyclical — 8.24% | |||
Amazon.com | |||
2.50% 6/3/50 | 1,780,000 | 1,185,511 | |
3.875% 8/22/37 | 7,500,000 | 6,854,656 | |
Aptiv 3.10% 12/1/51 | 1,191,000 | 749,845 | |
DR Horton 2.60% 10/15/25 | 3,620,000 | 3,388,885 | |
Ford Motor Credit 6.95% 6/10/26 | 975,000 | 980,772 | |
General Motors Financial | |||
1.25% 1/8/26 | 1,375,000 | 1,227,373 | |
2.40% 10/15/28 | 1,580,000 | 1,338,860 | |
6.40% 1/9/33 | 1,050,000 | 1,067,969 | |
Home Depot 4.20% 4/1/43 | 4,700,000 | 4,203,885 | |
NVR 3.00% 5/15/30 | 5,313,000 | 4,606,657 | |
VICI Properties 4.95% 2/15/30 | 855,000 | 802,832 | |
26,407,245 | |||
Consumer Non-Cyclical — 7.81% | |||
Amgen 2.80% 8/15/41 | 2,250,000 | 1,591,623 | |
Boston Scientific 1.90% 6/1/25 | 1,000,000 | 937,913 | |
Clorox 3.90% 5/15/28 | 5,512,000 | 5,263,123 | |
CVS Health 2.70% 8/21/40 | 1,594,000 | 1,113,885 | |
HCA 5.20% 6/1/28 | 395,000 | 392,064 | |
JBS USA Lux 144A 3.00% 2/2/29 # | 1,778,000 | 1,512,189 | |
McCormick & Co. 0.90% 2/15/26 | 5,095,000 | 4,544,604 | |
Merck & Co. 2.75% 12/10/51 | 1,585,000 | 1,094,960 | |
Pfizer Investment Enterprises | |||
4.75% 5/19/33 | 405,000 | 403,632 | |
5.30% 5/19/53 | 390,000 | 405,782 |
Principalamount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Consumer Non-Cyclical (continued) | |||
Royalty Pharma | |||
1.20% 9/2/25 | 3,750,000 | $ 3,383,282 | |
3.30% 9/2/40 | 425,000 | 302,885 | |
3.35% 9/2/51 | 1,057,000 | 681,822 | |
3.55% 9/2/50 | 447,000 | 302,256 | |
Universal Health Services 1.65% 9/1/26 | 2,965,000 | 2,593,570 | |
US Foods 144A 4.75% 2/15/29 # | 550,000 | 504,091 | |
25,027,681 | |||
Electric — 3.30% | |||
American Electric Power 5.699% 8/15/25 | 920,000 | 914,931 | |
Black Hills 1.037% 8/23/24 | 1,850,000 | 1,748,404 | |
Commonwealth Edison 2.75% 9/1/51 | 2,500,000 | 1,621,992 | |
Constellation Energy Generation 5.60% 3/1/28 | 570,000 | 574,802 | |
Duke Energy Carolinas | |||
3.95% 11/15/28 | 429,000 | 410,125 | |
5.35% 1/15/53 | 185,000 | 187,688 | |
Edison International 8.125% 6/15/53 μ | 1,575,000 | 1,611,149 | |
Louisville Gas and Electric 5.45% 4/15/33 | 875,000 | 891,904 | |
MidAmerican Energy 3.95% 8/1/47 | 1,000,000 | 815,706 | |
NextEra Energy Capital Holdings 3.00% 1/15/52 | 285,000 | 187,826 | |
Oglethorpe Power | |||
4.50% 4/1/47 | 1,530,000 | 1,266,764 | |
5.25% 9/1/50 | 390,000 | 361,541 | |
10,592,832 | |||
Energy — 4.78% | |||
BP Capital Markets America 2.939% 6/4/51 | 2,755,000 | 1,883,522 | |
Cheniere Energy Partners 144A 5.95% 6/30/33 # | 1,030,000 | 1,034,285 | |
Colorado Interstate Gas 144A 4.15% 8/15/26 # | 6,000,000 | 5,728,930 | |
Energy Transfer 5.30% 4/15/47 | 1,450,000 | 1,263,161 | |
Kinder Morgan 4.80% 2/1/33 | 640,000 | 604,021 | |
Occidental Petroleum 6.125% 1/1/31 | 956,000 | 971,693 | |
Targa Resources Partners 5.00% 1/15/28 | 827,000 | 789,990 | |
Williams Cos. 4.85% 3/1/48 | 3,500,000 | 3,034,749 | |
15,310,351 |
2 NQ- IV948 [0623] 0823 (3050918)
(Unaudited)
Principalamount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Finance Companies — 1.85% | |||
AerCap Ireland Capital DAC | |||
1.75% 1/30/26 | 975,000 | $ 875,861 | |
3.00% 10/29/28 | 1,350,000 | 1,168,339 | |
3.40% 10/29/33 | 265,000 | 213,124 | |
Air Lease | |||
2.875% 1/15/32 | 530,000 | 425,967 | |
4.125% 12/15/26 μ, ψ | 1,454,000 | 948,034 | |
5.85% 12/15/27 | 455,000 | 454,823 | |
Aviation Capital Group | |||
144A 1.95% 1/30/26 # | 437,000 | 389,525 | |
144A 1.95% 9/20/26 # | 355,000 | 307,918 | |
144A 6.25% 4/15/28 # | 300,000 | 299,587 | |
Avolon Holdings Funding 144A 3.25% 2/15/27 # | 960,000 | 856,158 | |
5,939,336 | |||
Industrials — 0.50% | |||
University of Southern California 3.028% 10/1/39 | 2,000,000 | 1,611,041 | |
1,611,041 | |||
Insurance — 5.26% | |||
American International Group 5.125% 3/27/33 | 820,000 | 801,391 | |
Aon 2.80% 5/15/30 | 4,950,000 | 4,289,590 | |
Athene Global Funding 144A 1.985% 8/19/28 # | 2,235,000 | 1,796,207 | |
Brighthouse Financial 3.85% 12/22/51 | 597,000 | 378,487 | |
First American Financial 2.40% 8/15/31 | 2,400,000 | 1,827,551 | |
Principal Life Global Funding II 144A 3.00% 4/18/26 # | 4,000,000 | 3,709,506 | |
UnitedHealth Group 3.05% 5/15/41 | 5,240,000 | 4,054,922 | |
16,857,654 | |||
Natural Gas — 0.38% | |||
Southern California Gas | |||
4.30% 1/15/49 | 795,000 | 665,009 | |
5.20% 6/1/33 | 545,000 | 538,084 | |
1,203,093 | |||
Real Estate Investment Trusts — 1.42% | |||
American Homes 4 Rent 3.625% 4/15/32 | 690,000 | 596,958 | |
Extra Space Storage | |||
2.35% 3/15/32 | 785,000 | 614,414 | |
2.55% 6/1/31 | 4,140,000 | 3,354,718 | |
4,566,090 |
Principalamount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Technology — 19.77% | |||
Adobe 2.30% 2/1/30 | 5,890,000 | $ 5,170,823 | |
Alphabet 2.05% 8/15/50 | 2,646,000 | 1,657,584 | |
Apple | |||
2.65% 5/11/50 | 825,000 | 574,879 | |
2.65% 2/8/51 | 825,000 | 570,363 | |
2.70% 8/5/51 | 575,000 | 401,046 | |
Autodesk 2.85% 1/15/30 | 4,616,000 | 4,050,124 | |
Broadcom 144A 3.469% 4/15/34 # | 2,195,000 | 1,801,362 | |
CDW 3.276% 12/1/28 | 2,070,000 | 1,799,460 | |
CoStar Group 144A 2.80% 7/15/30 # | 2,817,000 | 2,326,940 | |
Entegris Escrow 144A 4.75% 4/15/29 # | 1,005,000 | 933,902 | |
Equinix 2.625% 11/18/24 | 5,715,000 | 5,460,445 | |
Fidelity National Information Services 1.65% 3/1/28 | 2,775,000 | 2,344,850 | |
Fiserv 3.85% 6/1/25 | 5,500,000 | 5,315,778 | |
Global Payments 2.65% 2/15/25 | 4,195,000 | 3,980,719 | |
Leidos 2.30% 2/15/31 | 627,000 | 494,448 | |
Microchip Technology 0.983% 9/1/24 | 4,476,000 | 4,229,497 | |
Micron Technology 5.875% 9/15/33 | 405,000 | 401,542 | |
Microsoft 2.921% 3/17/52 | 3,500,000 | 2,606,176 | |
NXP 3.875% 6/18/26 | 2,200,000 | 2,114,235 | |
PayPal Holdings 2.30% 6/1/30 | 890,000 | 755,159 | |
Sensata Technologies 144A 3.75% 2/15/31 # | 805,000 | 689,395 | |
ServiceNow 1.40% 9/1/30 | 3,977,000 | 3,151,219 | |
Texas Instruments 3.875% 3/15/39 | 3,933,000 | 3,527,030 | |
Thomson Reuters 3.35% 5/15/26 | 2,450,000 | 2,333,231 | |
Visa 2.70% 4/15/40 | 5,065,000 | 3,894,856 | |
VMware 4.50% 5/15/25 | 2,850,000 | 2,792,504 | |
63,377,567 | |||
Transportation — 1.88% | |||
Air Canada 144A 3.875% 8/15/26 # | 435,000 | 403,572 | |
American Airlines 144A 5.50% 4/20/26 # | 535,000 | 530,500 | |
Burlington Northern Santa Fe 4.55% 9/1/44 | 2,000,000 | 1,846,462 | |
Delta Air Lines 2020-1 Class AA Pass Through Trust 2.00% 12/10/29 ♦ | 1,620,721 | 1,428,240 | |
ERAC USA Finance 144A 5.40% 5/1/53 # | 420,000 | 419,638 | |
United Airlines 2016-1 Class AA Pass Through Trust 3.10% 1/7/30 ♦ | 1,563,658 | 1,413,153 | |
6,041,565 |
NQ- IV948 [0623] 0823 (3050918) 3
Schedule of investments
Delaware Ivy Corporate Bond Fund (Unaudited)
Principalamount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Utilities — 0.99% | |||
American Water Capital 4.15% 6/1/49 | 3,800,000 | $ 3,186,817 | |
3,186,817 | |||
Total Corporate Bonds (cost $363,389,477) | 312,173,563 |
Principal amount | |||
Municipal Bonds — 1.41% | |||
Commonwealth of Puerto Rico(Restructured) | |||
Series A-1 2.986% 7/1/24^ | 19,099 | 18,300 | |
Series A-1 4.00% 7/1/35 | 41,688 | 38,854 | |
GDB Debt Recovery Authority of Puerto Rico Revenue (Taxable) 7.50% 8/20/40 | 1,843,025 | 1,525,104 | |
New York City, New York Industrial Development Agency (Yankee Stadium Project) 144A 11.00% 3/1/29# | 2,537,000 | 2,931,960 | |
Total Municipal Bonds (cost $4,345,489) | 4,514,218 | ||
Sovereign Bonds — 0.61%Δ | |||
Colombia — 0.25% | |||
Colombia Government International Bond 3.25% 4/22/32 | 1,075,000 | 797,983 | |
797,983 | |||
Mexico — 0.36% | |||
Mexico Government International Bond 3.75% 4/19/71 | 1,750,000 | 1,171,723 | |
1,171,723 | |||
Total Sovereign Bonds (cost $2,795,304) | 1,969,706 | ||
US Treasury Obligations — 0.36% | |||
US Treasury Bonds 3.625% 2/15/53 | 635,000 | 609,600 | |
US Treasury Notes 3.50% 1/31/30 | 560,000 | 543,528 | |
Total US Treasury Obligations (cost $1,181,418) | 1,153,128 |
Number of shares | Value (US $) | ||
Short-Term Investments — 0.13% | |||
Money Market Mutual Funds — 0.13% | |||
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.99%) | 100,435 | $ 100,435 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.99%) | 100,436 | 100,436 | |
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.14%) | 100,435 | 100,435 | |
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.03%) | 100,436 | 100,436 | |
Total Short-Term Investments (cost $401,742) | 401,742 | ||
Total Value of Securities—100.03% (cost $372,683,203) | 320,721,295 | ||
Liabilities Net of Receivables and Other Assets—(0.03%) | (86,771) | ||
Net Assets Applicable to 20,585,671 Shares Outstanding—100.00% | $320,634,524 |
° | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
μ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at June 30, 2023. Rate will reset at a future date. |
ψ | Perpetual security. Maturity date represents next call date. |
# | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At June 30, 2023, the aggregate value of Rule 144A securities was $41,547,984, which represents 12.96% of the Fund's net assets. |
‡ | Non-income producing security. Security is currently in default. |
♦ | 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. |
^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
Δ | Securities have been classified by country of risk. |
Summary of abbreviations: |
DAC – Designated Activity Company |
4 NQ- IV948 [0623] 0823 (3050918)
(Unaudited)
Summary of abbreviations: (continued) |
USD – US Dollar |
NQ- IV948 [0623] 0823 (3050918) 5