Schedule of investments
Delaware Real Estate Securities Fund
June 30, 2024 (Unaudited)
Number of shares | Value (US $) | ||
Common Stocks — 99.16%♦ | |||
Real Estate Operating Companies/Developer — 2.92% | |||
Corp Inmobiliaria Vesta ADR | 41,232 | $ 1,236,548 | |
DigitalBridge Group | 135,158 | 1,851,664 | |
3,088,212 | |||
Real Estate Services — 1.05% | |||
CBRE Group Class A † | 12,452 | 1,109,598 | |
1,109,598 | |||
REIT Healthcare — 17.80% | |||
Alexandria Real Estate Equities | 39,580 | 4,629,672 | |
American Healthcare REIT | 124,211 | 1,814,723 | |
Welltower | 118,912 | 12,396,576 | |
18,840,971 | |||
REIT Hotel — 2.33% | |||
Ryman Hospitality Properties | 12,252 | 1,223,485 | |
Sunstone Hotel Investors | 118,672 | 1,241,309 | |
2,464,794 | |||
REIT Industrial — 8.10% | |||
First Industrial Realty Trust | 78,408 | 3,725,164 | |
Prologis | 43,136 | 4,844,604 | |
8,569,768 | |||
REIT Information Technology — 25.15% | |||
American Tower | 15,107 | 2,936,499 | |
Digital Realty Trust | 34,101 | 5,185,057 | |
Equinix | 17,635 | 13,342,641 | |
VICI Properties | 179,628 | 5,144,546 | |
26,608,743 | |||
REIT Manufactured Housing — 5.46% | |||
Equity LifeStyle Properties | 27,853 | 1,814,066 | |
Sun Communities | 32,977 | 3,968,452 | |
5,782,518 | |||
REIT Multifamily — 16.02% | |||
American Homes 4 Rent Class A | 77,064 | 2,863,698 | |
AvalonBay Communities | 25,234 | 5,220,662 | |
Boardwalk Real Estate Investment Trust | 14,057 | 724,197 | |
Equity Residential | 47,793 | 3,313,967 | |
InterRent Real Estate Investment Trust | 72,677 | 632,713 | |
Invitation Homes | 116,919 | 4,196,223 | |
16,951,460 | |||
REIT Office — 1.73% | |||
Kilroy Realty | 58,883 | 1,835,383 | |
1,835,383 | |||
REIT Retail — 13.73% | |||
Agree Realty | 66,136 | 4,096,464 |
Number of shares | Value (US $) | ||
Common Stocks♦ (continued) | |||
REIT Retail (continued) | |||
Federal Realty Investment Trust | 28,072 | $ 2,834,430 | |
Kite Realty Group Trust | 161,285 | 3,609,558 | |
Simon Property Group | 26,249 | 3,984,598 | |
14,525,050 | |||
REIT Self-Storage — 4.87% | |||
Public Storage | 17,917 | 5,153,825 | |
5,153,825 | |||
Total Common Stocks (cost $63,265,693) | 104,930,322 | ||
Short-Term Investments — 0.63% | |||
Money Market Mutual Funds — 0.63% | |||
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.21%) | 166,259 | 166,259 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.21%) | 166,259 | 166,259 | |
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.35%) | 166,259 | 166,259 | |
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.22%) | 166,259 | 166,259 | |
Total Short-Term Investments (cost $665,036) | 665,036 | ||
Total Value of Securities—99.79% (cost $63,930,729) | 105,595,358 | ||
Receivables and Other Assets Net of Liabilities—0.21% | 227,362 | ||
Net Assets Applicable to 6,856,549 Shares Outstanding—100.00% | $105,822,720 |
♦ | Narrow industries are utilized for compliance purposes for concentration whereas broad sectors are used for financial reporting. |
† | Non-income producing security. |
Summary of abbreviations: |
ADR – American Depositary Receipt |
REIT – Real Estate Investment Trust |
NQ- IV063 [0624] 0824 (3775142) 1