Schedule of investments
Delaware Investments® Dividend and Income Fund, Inc.
February 28, 2022 (Unaudited)
Principal amount° | Value (US $) | ||
Convertible Bonds — 6.25% | |||
Basic Industry — 0.15% | |||
Ivanhoe Mines 144A 2.50% exercise price $7.43, maturity date 4/15/26 # | 81,000 | $ 123,363 | |
123,363 | |||
Capital Goods — 0.17% | |||
Kaman 3.25% exercise price $65.26, maturity date 5/1/24 | 130,000 | 136,175 | |
136,175 | |||
Communications — 0.85% | |||
Cable One 144A 1.125% exercise price $2,275.83, maturity date 3/15/28 # | 151,000 | 135,674 | |
DISH Network 3.375% exercise price $65.17, maturity date 8/15/26 | 161,000 | 146,429 | |
InterDigital 2.00% exercise price $81.29, maturity date 6/1/24 | 151,000 | 156,757 | |
Liberty Broadband 144A 1.25% exercise price $900.01, maturity date 9/30/50 # | 171,000 | 166,297 | |
Liberty Latin America 2.00% exercise price $20.65, maturity date 7/15/24 | 76,000 | 70,680 | |
675,837 | |||
Consumer Cyclical — 0.38% | |||
Cheesecake Factory 0.375% exercise price $78.40, maturity date 6/15/26 | 98,000 | 91,569 | |
Ford Motor 144A 0.00% exercise price $17.31, maturity date 3/15/26 #, ^ | 108,000 | 132,330 | |
FuboTV 144A 3.25% exercise price $57.78, maturity date 2/15/26 # | 108,000 | 81,972 | |
305,871 | |||
Consumer Non-Cyclical — 1.60% | |||
BioMarin Pharmaceutical 0.599% exercise price $124.67, maturity date 8/1/24 | 59,000 | 59,118 | |
Chefs' Warehouse 1.875% exercise price $44.20, maturity date 12/1/24 | 176,000 | 186,450 | |
Chegg 4.124% exercise price $107.55, maturity date 9/1/26 ^ | 168,000 | 137,760 |
Principal amount° | Value (US $) | ||
Convertible Bonds (continued) | |||
Consumer Non-Cyclical (continued) | |||
Coherus Biosciences 1.50% exercise price $19.26, maturity date 4/15/26 | 108,000 | $ 104,058 | |
Collegium Pharmaceutical 2.625% exercise price $29.19, maturity date 2/15/26 | 150,000 | 147,525 | |
Integra LifeSciences Holdings 0.50% exercise price $73.67, maturity date 8/15/25 | 177,000 | 192,700 | |
Ionis Pharmaceuticals 0.125% exercise price $83.28, maturity date 12/15/24 | 101,000 | 90,269 | |
Jazz Investments I 2.00% exercise price $155.81, maturity date 6/15/26 | 88,000 | 102,025 | |
Neurocrine Biosciences 2.25% exercise price $75.92, maturity date 5/15/24 | 46,000 | 59,829 | |
Paratek Pharmaceuticals 4.75% exercise price $15.90, maturity date 5/1/24 | 214,000 | 192,942 | |
1,272,676 | |||
Electric — 0.26% | |||
NextEra Energy Partners 144A 0.357% exercise price $75.96, maturity date 11/15/25 #, ^ | 49,000 | 53,092 | |
NRG Energy 2.75% exercise price $44.89, maturity date 6/1/48 | 138,000 | 152,632 | |
205,724 | |||
Energy — 0.24% | |||
Helix Energy Solutions Group 6.75% exercise price $6.97, maturity date 2/15/26 | 174,000 | 188,668 | |
188,668 | |||
Financials — 0.33% | |||
FTI Consulting 2.00% exercise price $101.38, maturity date 8/15/23 | 99,000 | 147,263 | |
Repay Holdings 144A 0.343% exercise price $33.60, maturity date 2/1/26 #, ^ | 137,000 | 118,642 | |
265,905 | |||
Industrials — 0.29% | |||
Chart Industries 144A 1.00% exercise price $58.72, maturity date 11/15/24 # | 83,000 | 207,815 |
NQ-DDF [2/22] 4/22 (2112892) 1
Schedule of investments
Delaware Investments® Dividend and Income Fund, Inc. (Unaudited)
Principal amount° | Value (US $) | ||
Convertible Bonds (continued) | |||
Industrials (continued) | |||
Danimer Scientific 144A 3.25% exercise price $10.79, maturity date 12/15/26 # | 33,000 | $ 24,486 | |
232,301 | |||
REITs — 0.34% | |||
Blackstone Mortgage Trust 4.75% exercise price $36.23, maturity date 3/15/23 | 141,000 | 145,794 | |
Summit Hotel Properties 1.50% exercise price $11.99, maturity date 2/15/26 | 118,000 | 124,313 | |
270,107 | |||
Technology — 1.24% | |||
Block 0.125% exercise price $121.01, maturity date 3/1/25 | 68,000 | 87,083 | |
Microchip Technology 1.625% exercise price $46.63, maturity date 2/15/27 | 73,000 | 147,141 | |
ON Semiconductor 1.625% exercise price $20.72, maturity date 10/15/23 | 71,000 | 214,952 | |
Palo Alto Networks 0.75% exercise price $266.35, maturity date 7/1/23 | 80,000 | 179,320 | |
Quotient Technology 1.75% exercise price $17.36, maturity date 12/1/22 | 158,000 | 156,230 | |
Travere Therapeutics 2.50% exercise price $38.80, maturity date 9/15/25 | 127,000 | 131,255 | |
Wolfspeed 144A 0.25% exercise price $127.22, maturity date 2/15/28 # | 64,000 | 69,000 | |
984,981 | |||
Transportation — 0.40% | |||
Seaspan 144A 3.75% exercise price $13.00, maturity date 12/15/25 # | 152,000 | 189,620 | |
Spirit Airlines 1.00% exercise price $49.07, maturity date 5/15/26 | 140,000 | 130,340 | |
319,960 | |||
Total Convertible Bonds (cost $4,609,718) | 4,981,568 | ||
Principal amount° | Value (US $) | ||
Corporate Bonds — 34.01% | |||
Automotive — 1.21% | |||
Allison Transmission 144A 5.875% 6/1/29 # | 330,000 | $ 346,723 | |
Ford Motor Credit | |||
3.375% 11/13/25 | 310,000 | 305,703 | |
4.542% 8/1/26 | 305,000 | 314,562 | |
966,988 | |||
Banking — 0.94% | |||
Morgan Stanley 5.875% 9/15/26 μ, ψ | 425,000 | 454,987 | |
Popular 6.125% 9/14/23 | 280,000 | 291,690 | |
746,677 | |||
Basic Industry — 3.46% | |||
Allegheny Technologies 5.125% 10/1/31 | 100,000 | 97,360 | |
Artera Services 144A 9.033% 12/4/25 # | 145,000 | 145,671 | |
Avient 144A 5.75% 5/15/25 # | 88,000 | 90,422 | |
Chemours 144A 5.75% 11/15/28 # | 155,000 | 152,587 | |
First Quantum Minerals | |||
144A 7.25% 4/1/23 # | 200,000 | 200,450 | |
144A 7.50% 4/1/25 # | 200,000 | 204,634 | |
Freeport-McMoRan 5.45% 3/15/43 | 185,000 | 213,064 | |
INEOS Quattro Finance 2 144A 3.375% 1/15/26 # | 200,000 | 191,225 | |
Koppers 144A 6.00% 2/15/25 # | 215,000 | 216,017 | |
New Gold 144A 7.50% 7/15/27 # | 150,000 | 156,536 | |
NOVA Chemicals | |||
144A 4.25% 5/15/29 # | 160,000 | 150,202 | |
144A 5.00% 5/1/25 # | 130,000 | 131,479 | |
Olin | |||
5.00% 2/1/30 | 175,000 | 176,620 | |
5.125% 9/15/27 | 195,000 | 197,677 | |
Standard Industries 144A 4.75% 1/15/28 # | 145,000 | 142,526 | |
Steel Dynamics 5.00% 12/15/26 | 280,000 | 287,563 | |
2,754,033 | |||
Capital Goods — 1.50% | |||
Ardagh Packaging Finance 144A 5.25% 8/15/27 # | 300,000 | 285,503 | |
Intertape Polymer Group 144A 4.375% 6/15/29 # | 170,000 | 161,415 | |
Madison IAQ 144A 5.875% 6/30/29 # | 160,000 | 145,404 | |
Terex 144A 5.00% 5/15/29 # | 180,000 | 178,526 | |
TK Elevator US Newco 144A 5.25% 7/15/27 # | 300,000 | 297,365 | |
TransDigm 144A 6.25% 3/15/26 # | 125,000 | 128,773 | |
1,196,986 |
2 NQ-DDF [2/22] 4/22 (2112892)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Communications — 2.26% | |||
Altice France 144A 5.50% 10/15/29 # | 240,000 | $ 220,240 | |
Altice France Holding 144A 6.00% 2/15/28 # | 305,000 | 270,684 | |
Connect Finco 144A 6.75% 10/1/26 # | 200,000 | 202,700 | |
Consolidated Communications | |||
144A 5.00% 10/1/28 # | 70,000 | 66,407 | |
144A 6.50% 10/1/28 # | 70,000 | 69,825 | |
Frontier Communications Holdings | |||
144A 5.875% 10/15/27 # | 245,000 | 248,723 | |
144A 6.75% 5/1/29 # | 100,000 | 97,250 | |
Sprint | |||
7.125% 6/15/24 | 190,000 | 205,675 | |
7.875% 9/15/23 | 103,000 | 110,853 | |
T-Mobile USA | |||
2.625% 4/15/26 | 85,000 | 83,551 | |
3.375% 4/15/29 | 85,000 | 83,320 | |
3.50% 4/15/31 | 50,000 | 49,297 | |
Zayo Group Holdings 144A 6.125% 3/1/28 # | 100,000 | 93,039 | |
1,801,564 | |||
Consumer Cyclical — 4.68% | |||
Bath & Body Works | |||
6.875% 11/1/35 | 160,000 | 177,086 | |
6.95% 3/1/33 | 104,000 | 110,103 | |
Bloomin' Brands 144A 5.125% 4/15/29 # | 150,000 | 146,807 | |
Boyd Gaming 4.75% 12/1/27 | 289,000 | 290,532 | |
Caesars Entertainment 144A 6.25% 7/1/25 # | 295,000 | 306,206 | |
Carnival | |||
144A 5.75% 3/1/27 # | 300,000 | 292,590 | |
144A 7.625% 3/1/26 # | 215,000 | 221,234 | |
Fertitta Entertainment 144A 6.75% 1/15/30 # | 220,000 | 209,700 | |
Hilton Domestic Operating 144A 4.00% 5/1/31 # | 475,000 | 464,882 | |
Levi Strauss & Co. 144A 3.50% 3/1/31 # | 143,000 | 133,488 | |
MGM Resorts International 4.75% 10/15/28 | 60,000 | 59,849 | |
PetSmart 144A 7.75% 2/15/29 # | 250,000 | 263,066 | |
Royal Caribbean Cruises 144A 5.50% 4/1/28 # | 305,000 | 299,295 | |
Scientific Games International 144A 8.25% 3/15/26 # | 137,000 | 143,238 | |
Six Flags Entertainment 144A 4.875% 7/31/24 # | 90,000 | 90,032 | |
White Cap Buyer 144A 6.875% 10/15/28 # | 150,000 | 149,434 |
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Consumer Cyclical (continued) | |||
Wyndham Hotels & Resorts 144A 4.375% 8/15/28 # | 379,000 | $ 373,980 | |
3,731,522 | |||
Consumer Non-Cyclical — 1.05% | |||
Energizer Holdings 144A 4.375% 3/31/29 # | 150,000 | 135,373 | |
JBS USA LUX | |||
144A 6.50% 4/15/29 # | 160,000 | 170,604 | |
144A 6.75% 2/15/28 # | 20,000 | 21,074 | |
Kraft Heinz Foods 5.20% 7/15/45 | 140,000 | 158,666 | |
Post Holdings | |||
144A 5.625% 1/15/28 # | 180,000 | 180,869 | |
144A 5.75% 3/1/27 # | 170,000 | 171,955 | |
838,541 | |||
Energy — 4.94% | |||
Ascent Resources Utica Holdings | |||
144A 5.875% 6/30/29 # | 170,000 | 161,925 | |
144A 7.00% 11/1/26 # | 80,000 | 79,136 | |
Callon Petroleum 144A 8.00% 8/1/28 # | 70,000 | 72,885 | |
Cheniere Corpus Christi Holdings | |||
5.125% 6/30/27 | 40,000 | 43,653 | |
5.875% 3/31/25 | 80,000 | 86,429 | |
CNX Midstream Partners 144A 4.75% 4/15/30 # | 85,000 | 82,283 | |
CNX Resources | |||
144A 6.00% 1/15/29 # | 155,000 | 158,534 | |
144A 7.25% 3/14/27 # | 70,000 | 74,032 | |
Crestwood Midstream Partners 144A 6.00% 2/1/29 # | 188,000 | 189,812 | |
DCP Midstream Operating 5.125% 5/15/29 | 220,000 | 231,927 | |
Energy Transfer 5.50% 6/1/27 | 115,000 | 126,868 | |
EQM Midstream Partners 144A 4.75% 1/15/31 # | 150,000 | 140,832 | |
Genesis Energy | |||
7.75% 2/1/28 | 210,000 | 207,674 | |
8.00% 1/15/27 | 160,000 | 162,000 | |
Murphy Oil 6.375% 7/15/28 | 265,000 | 274,931 | |
Murphy Oil USA 144A 3.75% 2/15/31 # | 145,000 | 134,724 | |
NuStar Logistics 5.625% 4/28/27 | 160,000 | 160,406 | |
Occidental Petroleum | |||
6.45% 9/15/36 | 70,000 | 82,535 | |
6.60% 3/15/46 | 320,000 | 382,909 | |
6.625% 9/1/30 | 135,000 | 157,306 | |
PDC Energy 5.75% 5/15/26 | 175,000 | 177,851 | |
Southwestern Energy 7.75% 10/1/27 | 145,000 | 153,142 |
NQ-DDF [2/22] 4/22 (2112892) 3
Schedule of investments
Delaware Investments® Dividend and Income Fund, Inc. (Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Energy (continued) | |||
Targa Resources Partners 5.375% 2/1/27 | 300,000 | $ 308,990 | |
TechnipFMC 144A 6.50% 2/1/26 # | 197,000 | 203,658 | |
Western Midstream Operating 4.75% 8/15/28 | 75,000 | 77,753 | |
3,932,195 | |||
Financials — 1.40% | |||
Ally Financial 5.75% 11/20/25 | 435,000 | 463,432 | |
Castlelake Aviation Finance DAC 144A 5.00% 4/15/27 # | 230,000 | 217,723 | |
Hightower Holding 144A 6.75% 4/15/29 # | 100,000 | 100,232 | |
Midcap Financial Issuer Trust 144A 6.50% 5/1/28 # | 200,000 | 195,548 | |
MSCI 144A 3.625% 11/1/31 # | 145,000 | 141,590 | |
1,118,525 | |||
Healthcare — 3.27% | |||
Bausch Health 144A 6.25% 2/15/29 # | 340,000 | 290,470 | |
Centene | |||
3.375% 2/15/30 | 245,000 | 235,441 | |
4.625% 12/15/29 | 165,000 | 170,223 | |
Cheplapharm Arzneimittel 144A 5.50% 1/15/28 # | 200,000 | 200,132 | |
Community Health Systems 144A 4.75% 2/15/31 # | 90,000 | 84,828 | |
DaVita 144A 4.625% 6/1/30 # | 135,000 | 129,653 | |
Encompass Health 5.75% 9/15/25 | 120,000 | 121,641 | |
HCA | |||
5.375% 2/1/25 | 405,000 | 429,353 | |
5.875% 2/15/26 | 165,000 | 178,518 | |
7.58% 9/15/25 | 80,000 | 90,050 | |
Ortho-Clinical Diagnostics 144A 7.25% 2/1/28 # | 72,000 | 75,318 | |
Service Corp International 4.00% 5/15/31 | 285,000 | 270,498 | |
Tenet Healthcare | |||
144A 4.25% 6/1/29 # | 160,000 | 154,649 | |
144A 6.125% 10/1/28 # | 170,000 | 172,388 | |
2,603,162 | |||
Insurance — 0.75% | |||
HUB International 144A 5.625% 12/1/29 # | 155,000 | 147,444 | |
NFP 144A 6.875% 8/15/28 # | 160,000 | 149,012 | |
USI 144A 6.875% 5/1/25 # | 295,000 | 296,569 | |
593,025 | |||
Media — 3.84% | |||
AMC Networks 4.25% 2/15/29 | 370,000 | 346,992 |
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Media (continued) | |||
CCO Holdings | |||
144A 4.50% 8/15/30 # | 175,000 | $ 168,835 | |
4.50% 5/1/32 | 40,000 | 38,066 | |
144A 5.125% 5/1/27 # | 120,000 | 121,339 | |
144A 5.375% 6/1/29 # | 130,000 | 132,254 | |
Clear Channel Outdoor Holdings 144A 7.50% 6/1/29 # | 95,000 | 98,838 | |
CSC Holdings | |||
144A 3.375% 2/15/31 # | 250,000 | 213,313 | |
144A 5.00% 11/15/31 # | 200,000 | 166,736 | |
Directv Financing 144A 5.875% 8/15/27 # | 160,000 | 160,200 | |
Gray Television 144A 4.75% 10/15/30 # | 290,000 | 272,325 | |
Netflix 5.875% 11/15/28 | 315,000 | 356,690 | |
Nielsen Finance | |||
144A 4.50% 7/15/29 # | 40,000 | 36,012 | |
144A 4.75% 7/15/31 # | 135,000 | 120,382 | |
Sinclair Television Group 144A 5.125% 2/15/27 # | 195,000 | 177,672 | |
Sirius XM Radio 144A 4.00% 7/15/28 # | 325,000 | 313,007 | |
Terrier Media Buyer 144A 8.875% 12/15/27 # | 145,000 | 148,789 | |
VZ Secured Financing 144A 5.00% 1/15/32 # | 200,000 | 189,799 | |
3,061,249 | |||
Real Estate Investment Trusts — 0.32% | |||
GLP Capital 5.375% 4/15/26 | 110,000 | 117,840 | |
MGM Growth Properties Operating Partnership | |||
144A 3.875% 2/15/29 # | 45,000 | 45,306 | |
5.75% 2/1/27 | 85,000 | 92,196 | |
255,342 | |||
Services — 1.83% | |||
Aramark Services 144A 5.00% 2/1/28 # | 345,000 | 345,997 | |
GFL Environmental 144A 3.75% 8/1/25 # | 59,000 | 58,481 | |
Iron Mountain 144A 4.50% 2/15/31 # | 305,000 | 285,593 | |
Legends Hospitality Holding 144A 5.00% 2/1/26 # | 58,000 | 56,898 | |
Prime Security Services Borrower 144A 5.75% 4/15/26 # | 220,000 | 226,333 | |
Sotheby's 144A 5.875% 6/1/29 # | 200,000 | 198,250 | |
United Rentals North America 3.875% 2/15/31 | 149,000 | 144,190 |
4 NQ-DDF [2/22] 4/22 (2112892)
(Unaudited)
Principal amount° | Value (US $) | ||
Corporate Bonds (continued) | |||
Services (continued) | |||
Univar Solutions USA 144A 5.125% 12/1/27 # | 140,000 | $ 142,708 | |
1,458,450 | |||
Technology & Electronics — 0.82% | |||
Go Daddy Operating 144A 3.50% 3/1/29 # | 160,000 | 151,867 | |
SS&C Technologies 144A 5.50% 9/30/27 # | 490,000 | 504,151 | |
656,018 | |||
Transportation — 0.91% | |||
Delta Air Lines 7.375% 1/15/26 | 206,000 | 231,437 | |
Mileage Plus Holdings 144A 6.50% 6/20/27 # | 150,000 | 158,419 | |
United Airlines | |||
144A 4.375% 4/15/26 # | 55,000 | 54,929 | |
144A 4.625% 4/15/29 # | 70,000 | 68,411 | |
VistaJet Malta Finance 144A 6.375% 2/1/30 # | 220,000 | 209,774 | |
722,970 | |||
Utilities — 0.83% | |||
Calpine | |||
144A 5.00% 2/1/31 # | 285,000 | 264,281 | |
144A 5.25% 6/1/26 # | 48,000 | 48,536 | |
PG&E 5.25% 7/1/30 | 90,000 | 89,546 | |
Vistra | |||
144A 7.00% 12/15/26 #, μ, ψ | 180,000 | 178,931 | |
144A 8.00% 10/15/26 #, μ, ψ | 80,000 | 82,298 | |
663,592 | |||
Total Corporate Bonds (cost $27,610,922) | 27,100,839 |
Number of shares | |||
Common Stock — 95.55% | |||
Communication Services — 7.87% | |||
Century Communications =, † | 500,000 | 0 | |
Comcast Class A | 42,048 | 1,966,165 | |
Verizon Communications | 41,500 | 2,227,305 | |
Walt Disney † | 13,979 | 2,075,322 | |
6,268,792 | |||
Consumer Discretionary — 7.60% | |||
Dollar General | 9,475 | 1,879,271 | |
Dollar Tree † | 15,700 | 2,230,656 | |
TJX | 29,500 | 1,949,950 | |
6,059,877 | |||
Consumer Staples — 5.95% | |||
Archer-Daniels-Midland | 30,900 | 2,424,105 |
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
Consumer Staples (continued) | |||
Conagra Brands | 66,363 | $ 2,320,714 | |
4,744,819 | |||
Energy — 3.18% | |||
ConocoPhillips | 26,679 | 2,530,770 | |
2,530,770 | |||
Financials — 14.38% | |||
American International Group | 38,100 | 2,333,244 | |
Discover Financial Services | 19,000 | 2,345,360 | |
MetLife | 34,564 | 2,334,798 | |
Truist Financial | 36,700 | 2,283,474 | |
US Bancorp | 38,200 | 2,159,828 | |
11,456,704 | |||
Healthcare — 16.02% | |||
Baxter International | 26,400 | 2,243,208 | |
Cigna | 9,408 | 2,237,034 | |
CVS Health | 21,400 | 2,218,110 | |
Johnson & Johnson | 12,700 | 2,090,039 | |
Merck & Co. | 29,000 | 2,220,820 | |
Viatris | 159,957 | 1,761,127 | |
12,770,338 | |||
Industrials — 11.23% | |||
Dover | 12,795 | 2,007,023 | |
Honeywell International | 10,424 | 1,977,954 | |
Northrop Grumman | 5,600 | 2,475,984 | |
Raytheon Technologies | 24,214 | 2,486,778 | |
8,947,739 | |||
Information Technology — 14.29% | |||
Broadcom | 3,300 | 1,938,552 | |
Cisco Systems | 35,400 | 1,974,258 | |
Cognizant Technology Solutions Class A | 24,782 | 2,134,474 | |
Fidelity National Information Services | 19,439 | 1,851,176 | |
Motorola Solutions | 8,200 | 1,807,526 | |
Oracle | 22,200 | 1,686,534 | |
11,392,520 | |||
Materials — 2.71% | |||
DuPont de Nemours | 27,932 | 2,161,099 | |
2,161,099 | |||
REIT Diversified — 0.34% | |||
Duke Realty | 2,650 | 140,450 | |
EPR Properties | 108 | 5,378 | |
Lamar Advertising Class A | 240 | 26,175 | |
LXP Industrial Trust | 5,276 | 81,567 | |
Outfront Media | 570 | 15,219 | |
268,789 |
NQ-DDF [2/22] 4/22 (2112892) 5
Schedule of investments
Delaware Investments® Dividend and Income Fund, Inc. (Unaudited)
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
REIT Healthcare — 0.85% | |||
Alexandria Real Estate Equities | 840 | $ 159,096 | |
CareTrust REIT | 2,570 | 44,975 | |
Healthcare Trust of America Class A | 2,740 | 80,528 | |
Healthpeak Properties | 2,300 | 71,438 | |
Medical Properties Trust | 4,020 | 81,767 | |
National Health Investors | 178 | 9,489 | |
Ventas | 741 | 40,014 | |
Welltower | 2,254 | 187,736 | |
675,043 | |||
REIT Hotel — 0.42% | |||
Apple Hospitality REIT | 6,429 | 113,729 | |
Chatham Lodging Trust † | 3,288 | 45,210 | |
Gaming and Leisure Properties | 1,140 | 51,767 | |
Host Hotels & Resorts † | 720 | 13,154 | |
VICI Properties | 3,860 | 107,926 | |
331,786 | |||
REIT Industrial — 0.86% | |||
Plymouth Industrial REIT | 860 | 22,429 | |
Prologis | 4,262 | 621,612 | |
Terreno Realty | 610 | 41,962 | |
686,003 | |||
REIT Information Technology — 0.68% | |||
Digital Realty Trust | 1,338 | 180,523 | |
Equinix | 505 | 358,414 | |
538,937 | |||
REIT Mall — 0.21% | |||
Simon Property Group | 1,196 | 164,522 | |
164,522 | |||
REIT Manufactured Housing — 0.28% | |||
Equity LifeStyle Properties | 1,300 | 97,006 | |
Sun Communities | 700 | 126,700 | |
223,706 | |||
REIT Multifamily — 3.74% | |||
American Campus Communities | 240 | 12,915 | |
American Homes 4 Rent Class A | 1,505 | 57,205 | |
AvalonBay Communities | 742 | 177,034 | |
Camden Property Trust | 583 | 96,259 | |
Equity Residential | 25,463 | 2,171,994 | |
Essex Property Trust | 500 | 158,585 | |
Invitation Homes | 4,276 | 161,633 | |
Mid-America Apartment Communities | 499 | 102,100 | |
UDR | 775 | 42,524 | |
2,980,249 | |||
REIT Office — 0.36% | |||
Boston Properties | 249 | 30,455 | |
Cousins Properties | 1,866 | 72,084 |
Number of shares | Value (US $) | ||
Common Stock (continued) | |||
REIT Office (continued) | |||
Douglas Emmett | 870 | $ 27,579 | |
Highwoods Properties | 1,560 | 68,016 | |
Kilroy Realty | 665 | 47,627 | |
Orion Office REIT † | 233 | 3,968 | |
Piedmont Office Realty Trust Class A | 2,150 | 36,636 | |
SL Green Realty | 4 | 318 | |
286,683 | |||
REIT Self-Storage — 0.87% | |||
CubeSmart | 778 | 37,507 | |
Extra Space Storage | 931 | 175,168 | |
Iron Mountain | 138 | 6,787 | |
Life Storage | 937 | 118,615 | |
National Storage Affiliates Trust | 880 | 51,278 | |
Public Storage | 860 | 305,317 | |
694,672 | |||
REIT Shopping Center — 0.62% | |||
Agree Realty | 500 | 32,075 | |
Brixmor Property Group | 3,795 | 95,330 | |
Federal Realty Investment Trust | 141 | 16,579 | |
Kimco Realty | 3,094 | 72,802 | |
Kite Realty Group Trust | 2,542 | 55,746 | |
Regency Centers | 1,065 | 70,173 | |
Retail Opportunity Investments | 3,387 | 61,508 | |
SITE Centers | 5,048 | 78,496 | |
Urban Edge Properties | 831 | 15,141 | |
497,850 | |||
REIT Single Tenant — 0.52% | |||
Essential Properties Realty Trust | 1,905 | 48,158 | |
Four Corners Property Trust | 1,611 | 42,498 | |
National Retail Properties | 1,270 | 54,115 | |
Realty Income | 2,330 | 153,990 | |
Spirit Realty Capital | 1,192 | 55,273 | |
STORE Capital | 2,040 | 62,669 | |
416,703 | |||
REIT Specialty — 0.06% | |||
WP Carey | 610 | 47,214 | |
47,214 | |||
Utilities — 2.51% | |||
Edison International | 31,600 | 2,004,072 | |
2,004,072 | |||
Total Common Stock (cost $59,521,248) | 76,148,887 | ||
6 NQ-DDF [2/22] 4/22 (2112892)
(Unaudited)
Number of shares | Value (US $) | ||
Convertible Preferred Stock — 1.49% | |||
2020 Mandatory Exchangeable Trust 144A 6.50% exercise price $47.09, maturity date 5/16/23 # | 95 | $ 105,327 | |
Algonquin Power & Utilities 7.75% exercise price $18.00, maturity date 6/15/24 | 2,048 | 94,474 | |
AMG Capital Trust II 5.15% exercise price $195.47, maturity date 10/15/37 | 1,728 | 93,450 | |
Bank of America 7.25% exercise price $50.00 ** | 58 | 76,418 | |
El Paso Energy Capital Trust I 4.75% exercise price $34.49, maturity date 3/31/28 | 3,327 | 164,187 | |
Elanco Animal Health 5.00% exercise price $38.40, maturity date 2/1/23 | 2,890 | 126,380 | |
Essential Utilities 6.00% exercise price $42.19, maturity date 4/30/22 | 3,600 | 203,076 | |
Lyondellbasell Advanced Polymers 6.00% exercise price $52.33 ** | 133 | 120,365 | |
RBC Bearings 5.00% exercise price $226.60, maturity date 10/15/24 | 623 | 62,911 | |
UGI 7.25% exercise price $52.57, maturity date 6/1/24 | 1,500 | 138,750 | |
Total Convertible Preferred Stock (cost $1,165,283) | 1,185,338 | ||
Short-Term Investments — 1.80% | |||
Money Market Mutual Funds — 1.80% | |||
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.03%) | 359,486 | 359,486 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.01%) | 359,486 | 359,486 | |
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.03%) | 359,486 | 359,486 | |
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.03%) | 359,486 | 359,486 | |
Total Short-Term Investments (cost $1,437,944) | 1,437,944 | ||
Total Value of Securities—139.10% (cost $94,345,115) | 110,854,576 |
Value (US $) | |||
Borrowing Under Line of Credit - (40.15%) | (32,000,000) | ||
Receivables and Other Assets Net of Liabilities — 1.05% | 838,470 | ||
Net Assets Applicable to 7,611,158 Shares Outstanding—100.00% | $79,693,045 |
° | 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 February 28, 2022, the aggregate value of Rule 144A securities was $18,829,812, which represents 23.63% of the Fund's net assets. |
^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
μ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at February 28, 2022. Rate will reset at a future date. |
ψ | Perpetual security. Maturity date represents next call date. |
= | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
† | Non-income producing security. |
** | Perpetual security with no stated maturity date. |
Summary of abbreviations: |
DAC – Designated Activity Company |
GS – Goldman Sachs |
MSCI – Morgan Stanley Capital International |
REIT – Real Estate Investment Trust |
USD – US Dollar |
NQ-DDF [2/22] 4/22 (2112892) 7