Schedule of investments
Delaware Tax-Free Idaho Fund | November 30, 2023 (Unaudited) |
Principal amount° | Value (US $) | ||
Municipal Bonds — 98.45% | |||
Education Revenue Bonds — 23.85% | |||
Boise city, Idaho State University Revenue | |||
(General Project) | |||
Series A 5.00% 4/1/47 | 500,000 | $ 512,305 | |
Series A 5.00% 4/1/48 | 435,000 | 447,654 | |
Idaho Housing & Finance Association Revenue | |||
(Alturas International Academy Project) 4.00% 5/1/52 | 1,500,000 | 1,244,820 | |
(Anser of Idaho Project) | |||
Series A 2.25% 5/1/51 | 1,165,000 | 666,904 | |
Series A 3.00% 5/1/41 | 3,150,000 | 2,469,757 | |
Series A 4.00% 5/1/56 | 1,585,000 | 1,299,494 | |
(Compass Public Charter School Project) | |||
Series A 144A 6.00% 7/1/39 # | 370,000 | 380,985 | |
Series A 144A 6.00% 7/1/49 # | 595,000 | 605,413 | |
Series A 144A 6.00% 7/1/54 # | 570,000 | 578,829 | |
(Compass Public Charter School) Series A 144A 5.00% 7/1/54 # | 1,000,000 | 897,840 | |
(Gem Prep: Meridian Project) Series A 4.00% 5/1/57 | 1,000,000 | 804,250 | |
(Idaho Arts Charter School Project) | |||
Series A 4.00% 5/1/41 | 330,000 | 312,857 | |
Series A 4.00% 5/1/50 | 520,000 | 465,390 | |
Series A 4.00% 5/1/55 | 305,000 | 267,031 | |
Series A 144A 5.00% 12/1/38 # | 2,050,000 | 2,062,197 | |
Series A 144A 5.00% 12/1/46 # | 1,000,000 | 1,001,590 | |
(Meridian South Charter School Project) 144A 4.00% 5/1/46 # | 1,000,000 | 718,230 | |
(North Star Charter School) | |||
Capital Appreciation Subordinate Series B 144A 4.88% 7/1/49 #, ^ | 2,888,155 | 431,837 | |
Series A 6.75% 7/1/48 | 529,151 | 532,199 | |
(Sage International School of Boise Project) | |||
Series A 4.00% 5/1/50 | 3,000,000 | 2,680,770 | |
Series A 4.00% 5/1/55 | 1,100,000 | 963,061 | |
(Victory Charter School Project) Series A 144A 5.00% 7/1/39 # | 1,000,000 | 1,007,000 | |
(White Pine Charter School Project) Series A 5.75% 5/1/58 | 1,000,000 | 1,040,360 | |
(Xavier Charter School Project) Series A 5.00% 6/1/50 | 1,275,000 | 1,256,946 | |
Idaho State University General Revenue | |||
Series A 4.00% 4/1/37 | 350,000 | 352,454 |
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Schedule of investments
Delaware Tax-Free Idaho Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
Idaho State University General Revenue | |||
Series A 4.50% 4/1/52 | 1,750,000 | $ 1,763,667 | |
Series A 5.25% 4/1/42 | 605,000 | 659,335 | |
Idaho State University Revenue | |||
3.00% 4/1/49 | 1,700,000 | 1,255,773 | |
The Regents of The University of Idaho General Revenue | |||
Series A 4.00% 4/1/45 | 700,000 | 689,248 | |
Series A 5.00% 4/1/35 (AGM) | 580,000 | 652,871 | |
University of Idaho Revenue | |||
Unrefunded Series A 5.00% 4/1/41 | 680,000 | 709,458 | |
28,730,525 | |||
Electric Revenue Bonds — 2.35% | |||
Boise-Kuna, Idaho Irrigation District Revenue | |||
(Idaho Arrowrock Hydroelectric Project) 5.00% 6/1/34 | 2,000,000 | 2,026,960 | |
Puerto Rico Electric Power Authority Revenue | |||
Series A 5.05% 7/1/42 ‡ | 75,000 | 18,938 | |
Series AAA 5.25% 7/1/25 ‡ | 45,000 | 11,363 | |
Series CCC 5.25% 7/1/27 ‡ | 345,000 | 87,112 | |
Series WW 5.00% 7/1/28 ‡ | 320,000 | 80,800 | |
Series WW 5.50% 7/1/38 ‡ | 1,500,000 | 378,750 | |
Series XX 4.75% 7/1/26 ‡ | 50,000 | 12,625 | |
Series XX 5.25% 7/1/40 ‡ | 595,000 | 150,237 | |
Series XX 5.75% 7/1/36 ‡ | 175,000 | 44,188 | |
Series ZZ 4.75% 7/1/27 ‡ | 40,000 | 10,100 | |
Series ZZ 5.25% 7/1/24 ‡ | 60,000 | 15,150 | |
2,836,223 | |||
Healthcare Revenue Bonds — 12.52% | |||
Idaho Health Facilities Authority Revenue | |||
(Madison Memorial Hospital Project) 5.00% 9/1/37 | 1,350,000 | 1,347,556 | |
(St. Luke's Health System Project) | |||
3.00% 3/1/51 | 3,300,000 | 2,361,975 | |
4.00% 3/1/51 | 2,210,000 | 2,053,311 | |
Series A 3.00% 3/1/51 | 3,000,000 | 2,115,420 | |
Series A 4.00% 3/1/46 | 500,000 | 459,035 | |
(Trinity Health Credit Group) | |||
Series ID 4.00% 12/1/43 | 3,900,000 | 3,782,220 | |
Series ID 5.00% 12/1/46 | 750,000 | 758,250 |
2 NQ- VF [1123] 0124 (3318246)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Idaho Health Facilities Authority Revenue | |||
(Valley Vista Care Corporation) | |||
Series A 4.00% 11/15/27 | 575,000 | $ 565,846 | |
Series A 5.25% 11/15/37 | 1,005,000 | 824,261 | |
Series A 5.25% 11/15/47 | 1,130,000 | 819,634 | |
15,087,508 | |||
Housing Revenue Bonds — 4.84% | |||
Idaho Housing & Finance Association Multifamily Housing Revenue | |||
(Sunset Landing Apartments Project) | |||
Series A 2.75% 7/1/40 | 1,300,000 | 1,022,541 | |
Series A 3.125% 7/1/54 | 2,000,000 | 1,416,060 | |
Idaho Housing & Finance Association Revenue | |||
Series A 4.50% 1/21/49 (GNMA) | 204,464 | 204,687 | |
Idaho Housing & Finance Association Single Family Mortgage Revenue | |||
Series A 4.75% 1/1/48 | 1,000,000 | 1,015,060 | |
Series C 3.00% 1/1/43 (FHA) | 425,000 | 357,242 | |
Series C 4.80% 7/1/53 | 1,800,000 | 1,820,646 | |
5,836,236 | |||
Industrial Development Revenue/Pollution ControlRevenue Bonds — 4.53% | |||
Children's Trust Fund Revenue, Commonwealth of Puerto Rico | |||
(Tobacco Settlement Asset-Backed) Series A 8.21% 5/15/57 ^ | 30,000,000 | 2,217,000 | |
Nez Perce County, Idaho Pollution Control Revenue | |||
(Potlatch Project) 2.75% 10/1/24 | 1,250,000 | 1,227,587 | |
Power County, Idaho Industrial Development Revenue | |||
(FMC Project) 6.45% 8/1/32 (AMT) | 2,000,000 | 2,006,360 | |
5,450,947 | |||
Lease Revenue Bonds — 11.92% | |||
Boise City, Idaho Urban Renewal Agency Revenue | |||
5.00% 12/15/31 | 750,000 | 780,427 | |
5.00% 12/15/32 | 750,000 | 779,775 | |
Idaho Falls City, Annual Appropriation Certificates of Participation Revenue | |||
4.00% 9/15/39 | 1,050,000 | 1,049,989 | |
144A 5.25% 5/15/51 # | 2,000,000 | 1,870,540 |
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Schedule of investments
Delaware Tax-Free Idaho Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Lease Revenue Bonds (continued) | |||
Idaho Fish & Wildlife Foundation Revenue | |||
(Idaho Department of Fish & Game Headquarters Office Project) | |||
4.00% 12/1/36 | 525,000 | $ 533,736 | |
4.00% 12/1/39 | 1,540,000 | 1,545,174 | |
4.00% 12/1/42 | 1,300,000 | 1,282,619 | |
4.00% 12/1/44 | 250,000 | 243,890 | |
(Idaho Department of Fish & Game Nampa Regional Office Project) 5.00% 12/1/41 | 200,000 | 212,444 | |
Idaho Housing & Finance Association Economic Development Facilities Revenue | |||
(TDF Facilities Project) | |||
Series A 6.50% 2/1/26 | 595,000 | 595,881 | |
Series A 7.00% 2/1/36 | 1,500,000 | 1,502,730 | |
Idaho Housing & Finance Association Revenue | |||
Series A 4.00% 7/15/39 | 2,735,000 | 2,722,556 | |
Idaho State Building Authority Revenue | |||
(Department of Health & Welfare Project) Series B 4.00% 9/1/48 | 1,290,000 | 1,238,452 | |
14,358,213 | |||
Local General Obligation Bonds — 8.80% | |||
Ada & Boise Counties, Idaho Independent School District Boise City | |||
5.00% 8/1/35 | 1,160,000 | 1,226,642 | |
5.00% 8/1/34 | 1,000,000 | 1,061,480 | |
5.00% 8/1/36 | 500,000 | 525,800 | |
Canyon County, Idaho School District No. 139 Vallivue | |||
5.00% 9/15/42 | 1,000,000 | 1,097,900 | |
5.00% 9/15/43 | 1,000,000 | 1,096,770 | |
(School Board Guaranteed) Series B 5.00% 9/15/24 | 1,480,000 | 1,482,057 | |
Idaho Bond Bank Authority Revenue | |||
Series A 4.00% 9/15/33 | 530,000 | 545,190 | |
Series A 4.00% 9/15/37 | 1,000,000 | 1,008,720 | |
Series C 5.00% 9/15/42 | 500,000 | 522,435 | |
Ketchum City, Idaho | |||
2.125% 9/15/41 | 500,000 | 345,515 | |
Madison County, Idaho School District No. 321 Rexburg | |||
(Sales Tax & Credit Enhancement Guaranty) Series B 5.00% 9/15/31 | 600,000 | 641,862 |
4 NQ- VF [1123] 0124 (3318246)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Local General Obligation Bonds (continued) | |||
Nez Perce County, Idaho Independent School DistrictNo. 1 | |||
(Sales Tax & Credit Enhancement Guaranty) Series B 5.00% 9/15/36 | 1,000,000 | $ 1,053,280 | |
10,607,651 | |||
Pre-Refunded Bond — 0.98% | |||
Ada & Canyon Counties, Idaho Joint School District No. 3 Kuna | |||
(Sales Tax & Credit Enhancement Guaranty) Series B 5.00% 9/15/35-27 § | 1,100,000 | 1,178,221 | |
1,178,221 | |||
Pre-Refunded/Escrowed to Maturity Bond — 0.43% | |||
Idaho State Building Authority Revenue | |||
(State Office Campus Project) Series A 4.00% 9/1/48-27 § | 500,000 | 522,380 | |
522,380 | |||
Resource Recovery Revenue Bond — 0.32% | |||
Idawy, Idaho Solid Waste District Revenue | |||
Series A 3.00% 1/1/50 | 550,000 | 387,041 | |
387,041 | |||
Special Tax Revenue Bonds — 20.94% | |||
Commonwealth of Puerto Rico Revenue | |||
3.799% 11/1/51 • | 3,330,467 | 1,340,513 | |
(Restructured) 3.373% 11/1/43 • | 2,315,950 | 1,207,189 | |
GDB Debt Recovery Authority of Puerto Rico Revenue | |||
7.50% 8/20/40 | 5,620,130 | 4,945,715 | |
Idaho Bond Bank Authority Revenue | |||
Series A 4.00% 9/15/39 | 230,000 | 231,766 | |
Idaho Housing & Finance Association Sales Tax Revenue | |||
(Transportation Expansion And Congestion Mitigation) | |||
5.00% 8/15/47 | 3,630,000 | 3,924,320 | |
Series A 4.00% 8/15/48 | 2,370,000 | 2,304,043 | |
Idaho Water Resource Board Loan Program Revenue | |||
(Ground Water Rights Mitigation) Series A 5.00% 9/1/32 | 3,565,000 | 3,567,246 | |
Puerto Rico Sales Tax Financing Revenue | |||
(Capital Appreciation - Restructured) | |||
Series A-1 5.462% 7/1/46 ^ | 3,320,000 | 979,699 | |
Series A-1 5.733% 7/1/51 ^ | 10,663,000 | 2,319,842 |
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Schedule of investments
Delaware Tax-Free Idaho Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Special Tax Revenue Bonds (continued) | |||
Puerto Rico Sales Tax Financing Revenue | |||
(Restructured) | |||
Series A-1 4.55% 7/1/40 | 875,000 | $ 852,399 | |
Series A-1 4.75% 7/1/53 | 3,045,000 | 2,881,697 | |
Series A-1 5.00% 7/1/58 | 691,000 | 671,700 | |
25,226,129 | |||
Transportation Revenue Bonds — 5.20% | |||
Boise City, Idaho Airport Revenue | |||
(Employee Parking Facilities Project) Series B 4.00% 9/1/51 (AMT) | 1,955,000 | 1,749,158 | |
(Public Parking Facilities Project) Series A 5.00% 9/1/51 | 1,500,000 | 1,594,680 | |
Puerto Rico Highway & Transportation Authority Revenue | |||
(Restructured) | |||
Series A 5.00% 7/1/62 | 1,940,000 | 1,920,600 | |
Series C 5.00% 7/1/53 ~ | 1,540,000 | 997,135 | |
6,261,573 | |||
Water & Sewer Revenue Bond — 1.77% | |||
Boise City, Idaho Water Renewal Revenue | |||
5.00% 9/1/51 | 2,000,000 | 2,131,280 | |
2,131,280 | |||
Total Municipal Bonds (cost $126,267,572) | 118,613,927 |
Number of shares | |||
Short-Term Investments — 0.20% | |||
Money Market Mutual Funds — 0.20% | |||
Dreyfus Tax Exempt Cash Management - Institutional Shares (seven-day effective yield 3.42%) | 243,347 | 243,309 | |
Total Short-Term Investments (cost $243,309) | 243,309 | ||
Total Value of Securities—98.65% (cost $126,510,881) | 118,857,236 | ||
Receivables and Other Assets Net of Liabilities—1.35% | 1,630,230 | ||
Net Assets Applicable to 11,780,870 Shares Outstanding—100.00% | $120,487,466 |
° | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
6 NQ- VF [1123] 0124 (3318246)
(Unaudited)
# | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At November 30, 2023, the aggregate value of Rule 144A securities was $9,554,461, which represents 7.93% of the Fund's net assets. |
^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
‡ | 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. |
• | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at November 30, 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. |
~ | Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Stated rate in effect at November 30, 2023. |
Summary of abbreviations: |
AGM – Insured by Assured Guaranty Municipal Corporation |
AMT – Subject to Alternative Minimum Tax |
FHA – Federal Housing Administration |
GNMA – Government National Mortgage Association |
SOFR01M – Secured Overnight Financing Rate 1 Month |
SOFR03M – Secured Overnight Financing Rate 3 Month |
USD – US Dollar |
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