Schedule of investments
Delaware National High-Yield Municipal Bond Fund | November 30, 2023 (Unaudited) |
Principal amount° | Value (US $) | ||
Municipal Bonds — 96.98% | |||
Education Revenue Bonds — 17.30% | |||
Arizona Industrial Development Authority Revenue | |||
(Academies of Math & Science Projects) | |||
144A 5.25% 7/1/43 # | 255,000 | $ 241,556 | |
144A 5.375% 7/1/53 # | 965,000 | 891,930 | |
144A 5.50% 7/1/58 # | 1,115,000 | 1,040,172 | |
(ACCEL Schools Project) Series A 144A 5.25% 8/1/48 # | 3,200,000 | 2,840,288 | |
(American Charter Schools Foundation Project) | |||
144A 6.00% 7/1/37 # | 1,155,000 | 1,176,818 | |
144A 6.00% 7/1/47 # | 8,995,000 | 9,046,002 | |
(Basis Schools Projects) Series A 144A 5.125% 7/1/37 # | 750,000 | 737,378 | |
(Benjamin Franklin Charter School Projects) | |||
Series A 144A 5.25% 7/1/53 # | 1,000,000 | 909,510 | |
Series A 144A 5.50% 7/1/58 # | 1,385,000 | 1,293,964 | |
(Empower College Prep Project) 144A 6.00% 7/1/49 # | 1,000,000 | 962,060 | |
(Kaizen Education Foundation Project) 144A 5.80% 7/1/52 # | 4,000,000 | 4,016,800 | |
(Leman Academy Of Excellence of Projects) Series A 4.50% 7/1/54 | 5,000,000 | 4,371,450 | |
(Odyssey Preparatory Academy Project) 144A 5.00% 7/1/54 # | 5,000,000 | 4,187,550 | |
(Pinecrest Academy Nevada-Horizon, Inspirada) Series A 144A 5.75% 7/15/48 # | 2,500,000 | 2,513,025 | |
Arlington, Texas Higher Education Finance Revenue | |||
(KIPP Texas, Inc.) 3.00% 8/15/49 (PSF) | 4,000,000 | 2,938,920 | |
(Newman International Academy) | |||
Series A 4.00% 8/15/31 | 200,000 | 181,952 | |
Series A 5.00% 8/15/41 | 600,000 | 526,158 | |
Build NYC, New York Resource Revenue | |||
5.00% 11/1/39 | 1,000,000 | 750,000 | |
(East Harlem Scholars Academy Charter School Project) | |||
144A 5.75% 6/1/52 # | 1,000,000 | 1,006,980 | |
144A 5.75% 6/1/62 # | 1,000,000 | 1,001,600 | |
(Inwood Academy for Leadership Charter School Project) | |||
Series A 144A 5.125% 5/1/38 # | 575,000 | 554,812 | |
Series A 144A 5.50% 5/1/48 # | 1,500,000 | 1,454,865 |
NQ- VQ [1123] 0124 (3318286) 1
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
Build NYC, New York Resource Revenue | |||
(KIPP NYC Public School Facilities - Canal West Project) | |||
5.25% 7/1/52 | 1,265,000 | $ 1,302,267 | |
5.25% 7/1/62 | 6,355,000 | 6,496,335 | |
(New Dawn Charter Schools Project) | |||
144A 5.625% 2/1/39 # | 1,290,000 | 1,238,439 | |
144A 5.75% 2/1/49 # | 2,700,000 | 2,469,150 | |
California Community College Financing Authority Student Housing Revenue | |||
(Napa Valley College Project) Series A 144A 5.75% 7/1/60 # | 14,090,000 | 13,856,670 | |
California Educational Facilities Authority Revenue | |||
(Stanford University) | |||
Series V-1 5.00% 5/1/49 | 33,445,000 | 38,903,893 | |
Series V-2 2.25% 4/1/51 | 4,975,000 | 3,105,693 | |
California Enterprise Development Authority Revenue | |||
(Heights Christian Schools Project) Series A 144A 6.375% 6/1/63 # | 10,000,000 | 9,617,600 | |
California Municipal Finance Authority Revenue | |||
(California Baptist University) Series A 144A 5.50% 11/1/45 # | 4,000,000 | 3,984,640 | |
(Julian Charter School Project) Series A 144A 5.625% 3/1/45 # | 5,760,000 | 5,269,766 | |
(Palmdale Aerospace Academy Project) | |||
Series A 144A 5.00% 7/1/41 # | 750,000 | 704,835 | |
Series A 144A 5.00% 7/1/46 # | 2,145,000 | 1,958,085 | |
California Public Finance Authority Educational Revenue | |||
(Crossroads Christian School Project) 144A 5.00% 1/1/56 # | 2,000,000 | 1,588,720 | |
California School Finance Authority Revenue | |||
(Encore Education Obligated Group) Series A 144A 5.00% 6/1/52 # | 1,000,000 | 748,620 | |
(Escuela Popular Project) 144A 6.50% 7/1/50 # | 2,500,000 | 2,507,800 | |
(Hawking Steam Charter School Project) | |||
144A 5.375% 7/1/56 # | 995,000 | 982,135 | |
Series A 144A 5.00% 7/1/42 # | 860,000 | 845,664 | |
Series A 144A 5.50% 7/1/62 # | 1,000,000 | 996,770 | |
(John Adams Academies - Obligated Group) Series A 144A 5.125% 7/1/62 # | 1,680,000 | 1,473,511 |
2 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
California School Finance Authority Revenue | |||
(Lighthouse Community Public Schools - Obligated Group) | |||
Series A 144A 6.25% 6/1/42 # | 1,000,000 | $ 1,026,090 | |
Series A 144A 6.375% 6/1/52 # | 1,240,000 | 1,263,213 | |
Series A 144A 6.50% 6/1/62 # | 2,300,000 | 2,345,586 | |
(New Designs Charter School) Series A 5.50% 6/1/42 | 1,750,000 | 1,749,860 | |
(Rocketship Public Schools - Obligated Group) Series G 144A 5.00% 6/1/47 # | 1,425,000 | 1,353,251 | |
(Sonoma County Junior College District Project) | |||
Series A 144A 4.00% 11/1/41 # | 2,980,000 | 2,563,306 | |
Series A 144A 4.00% 11/1/55 # | 2,500,000 | 1,926,475 | |
(View Park Elementary & Middle Schools) | |||
Series A 5.875% 10/1/44 | 1,000,000 | 1,000,020 | |
Series A 6.00% 10/1/49 | 720,000 | 719,921 | |
California Statewide Communities Development Authority Revenue | |||
(Lancer Educational Student Housing Project) Series A 144A 5.00% 6/1/46 # | 1,500,000 | 1,380,285 | |
Camden County, New Jersey Improvement Authority Revenue | |||
(KIPP:Cooper Norcross Academy - 2022 Project) 6.00% 6/15/62 | 3,750,000 | 3,997,725 | |
Capital Trust Agency Educational Facilities Housing Revenue | |||
(Lutz Preparatory School Project) Series A 4.00% 6/1/41 | 330,000 | 301,145 | |
(Pineapple Cove Classical Academy Inc. Project) Series A 144A 5.375% 7/1/54 # | 6,000,000 | 5,469,420 | |
(The Pepin Academies Inc. Project) Series A 5.75% 7/1/55 | 2,625,000 | 2,265,559 | |
Capital Trust Student Housing Revenue | |||
(University Bridge, LLC Student Housing Project) Series A 144A 5.25% 12/1/58 # | 8,000,000 | 7,201,280 | |
Chester County, Pennsylvania Industrial Development Authority Student Housing Revenue | |||
(West Chester University of Pennsylvania) Series A 5.00% 8/1/30 | 2,200,000 | 2,198,614 | |
Chester, Pennsylvania Economic Development Authority Lease Revenue | |||
(Chester Community Charter School Project) Series A 144A 5.625% 8/15/48 # | 12,000,000 | 11,103,720 |
NQ- VQ [1123] 0124 (3318286) 3
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
Chicago City, Illinois Board of Education Dedicated Capital Improvement Tax | |||
(Dedicated Revenues) 5.75% 4/1/48 | 5,150,000 | $ 5,529,915 | |
Chicago, Illinois Board of Education Dedicated Capital Improvement Tax | |||
5.00% 4/1/45 | 1,665,000 | 1,704,777 | |
(Dedicated Revenues) 5.00% 4/1/41 | 2,000,000 | 2,073,800 | |
City of Burbank, Illinois | |||
(Intercultural Montessori Language) 144A 6.25% 9/1/45 # | 4,000,000 | 3,870,400 | |
Clifton, Texas Higher Education Finance Revenue | |||
(Valor Education) Series A 144A 6.25% 6/15/53 # | 3,500,000 | 3,467,275 | |
Colorado Educational & Cultural Facilities Authority Revenue | |||
(Charter School - Community Leadership Academy) 7.45% 8/1/48 | 2,000,000 | 2,001,600 | |
(Global Village Academy - Northglenn Project) | |||
144A 5.00% 12/1/50 # | 1,000,000 | 827,840 | |
144A 5.00% 12/1/55 # | 3,440,000 | 2,787,742 | |
(Loveland Classical Schools Project) 144A 5.00% 7/1/46 # | 3,000,000 | 2,831,490 | |
(Skyview Academy Project) 144A 5.375% 7/1/44 # | 500,000 | 489,920 | |
Florida Development Finance Educational Facilities Revenue | |||
(Renaissance Charter School Projects) | |||
Series A 6.00% 6/15/35 # | 2,000,000 | 2,009,480 | |
Series A 6.125% 6/15/44 # | 5,300,000 | 5,303,233 | |
Florida Development Finance Revenue | |||
(Cornerstone Charter Academy Project) | |||
144A 5.125% 10/1/52 # | 4,110,000 | 3,760,856 | |
144A 5.25% 10/1/56 # | 1,900,000 | 1,755,068 | |
(Mater Academy Projects) | |||
Series A 4.00% 6/15/52 | 1,145,000 | 949,869 | |
Series A 5.00% 6/15/56 | 1,630,000 | 1,607,196 | |
(Renaissance Charter School Projects) Series C 144A 5.00% 9/15/50 # | 2,000,000 | 1,632,320 |
4 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
Hawaii State Department of Budget & Finance Revenue | |||
(Hawaii Pacific University) Series A 144A 6.875% 7/1/43 # | 2,000,000 | $ 2,000,720 | |
Idaho Housing & Finance Association Revenue | |||
(Compass Public Charter School) Series A 144A 5.00% 7/1/54 # | 860,000 | 772,142 | |
(Idaho Arts Charter School) 144A 5.00% 12/1/36 # | 605,000 | 612,333 | |
(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 | 529,150 | 532,198 | |
(Xavier Charter School Project) Series A 5.00% 6/1/50 | 1,000,000 | 985,840 | |
Illinois Finance Authority Charter School Revenue | |||
(Chicago International Charter School Project) 5.00% 12/1/47 | 2,965,000 | 2,824,755 | |
Illinois Finance Authority Educational Facility Revenue | |||
(Rogers Park Montessori) | |||
6.00% 2/1/34 | 675,000 | 675,459 | |
6.125% 2/1/45 | 1,800,000 | 1,800,558 | |
Illinois Finance Authority Revenue | |||
(Acero Charter Schools) 144A 4.00% 10/1/42 # | 2,245,000 | 1,803,274 | |
Illinois Finance Authority Student Housing & Academic Facility Revenue | |||
(University of Illinois at Chicago Project) Series A 5.00% 2/15/47 | 3,640,000 | 3,411,845 | |
Indiana Finance Authority Revenue | |||
(Tippecanoe, LLC - Student Housing Project) Series A 5.375% 6/1/64 | 6,010,000 | 5,995,155 | |
Industrial Development Authority of the County of Pima | |||
Pima County, Arizona Industrial Development Authority Revenue Series A 7.00% 12/15/43 | 1,500,000 | 1,502,265 | |
Kent County, Delaware Student Housing and Dining Facilities Revenue | |||
(Delaware State University Project) Series A 5.00% 7/1/58 | 1,250,000 | 1,156,050 |
NQ- VQ [1123] 0124 (3318286) 5
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
Louisiana Public Facilities Authority Revenue | |||
(Geo Academies Ebr - Geo Prep Mid-City Project) | |||
144A 6.125% 6/1/52 # | 1,030,000 | $ 1,030,906 | |
144A 6.25% 6/1/62 # | 1,420,000 | 1,423,337 | |
(Jefferson Rise Charter School Project) | |||
Series A 144A 6.25% 6/1/52 # | 1,000,000 | 933,510 | |
Series A 144A 6.375% 6/1/62 # | 1,330,000 | 1,227,883 | |
(Lake Charles Charter Academy Foundation Project) 8.00% 12/15/41 | 1,500,000 | 1,502,460 | |
(Lincoln Preparatory School Project) | |||
Series A 144A 5.25% 6/1/60 # | 2,000,000 | 1,559,780 | |
Series A 144A 6.375% 6/1/52 # | 1,000,000 | 943,190 | |
Series A 144A 6.50% 6/1/62 # | 2,000,000 | 1,884,880 | |
Macomb County, Michigan State Public School Academy Revenue | |||
(Academy Of Warren) Series A 144A 5.50% 5/1/50 # | 1,810,000 | 1,578,736 | |
Macon-Bibb County, Georgia Urban Development Authority Revenue | |||
(Academy for Classical Education) | |||
Series A 144A 5.875% 6/15/47 # | 1,680,000 | 1,682,537 | |
Series A 144A 6.00% 6/15/52 # | 1,530,000 | 1,534,284 | |
Maricopa County, Arizona Industrial Development Authority Revenue | |||
(Choice Academies, Inc. Project) Series AZ 144A 5.75% 9/1/45 # | 4,925,000 | 4,706,970 | |
Massachusetts Development Finance Agency Revenue | |||
Series V 5.00% 7/1/55 | 14,470,000 | 16,571,912 | |
(Massachusetts Institute Of Technology) Series P 5.00% 7/1/50 | 18,030,000 | 20,743,695 | |
Miami-Dade County, Florida Industrial Development Authority Revenue | |||
(Youth Co-Op Charter School) | |||
Series A 144A 5.75% 9/15/35 # | 1,000,000 | 997,930 | |
Series A 144A 6.00% 9/15/45 # | 1,000,000 | 990,300 | |
Michigan Finance Authority | |||
Michigan Finance Authority Limited Obligation Revenue | |||
5.00% 9/1/40 | 1,115,000 | 1,000,300 | |
Series A 5.90% 12/1/30 | 1,690,000 | 1,642,933 |
6 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
Michigan Finance Authority Limited Obligation Revenue | |||
(Landmark Academy Project) 5.00% 6/1/45 | 2,000,000 | $ 1,721,340 | |
(Public School Academy Old Redford) Series A 6.50% 12/1/40 | 3,900,000 | 3,700,515 | |
Michigan Public Educational Facilities Authority | |||
Michigan Public Educational Facilities Authority Revenue Series A 5.875% 12/1/30 | 1,720,000 | 1,669,707 | |
Nevada State Department of Business & Industry Revenue | |||
(Somerset Academy) | |||
Series A 144A 5.00% 12/15/35 # | 1,595,000 | 1,565,301 | |
Series A 144A 5.00% 12/15/38 # | 1,000,000 | 950,270 | |
Series A 144A 5.00% 12/15/48 # | 500,000 | 440,915 | |
Series A 144A 5.125% 12/15/45 # | 5,030,000 | 4,593,094 | |
New York State Dormitory Authority Revenue | |||
(Columbia University) Series A 5.00% 10/1/50 | 1,965,000 | 2,290,640 | |
Philadelphia Authority for Industrial Development Revenue | |||
(Mast Community Charter School II Project) 5.00% 8/1/50 | 375,000 | 352,999 | |
Philadelphia, Pennsylvania Authority for Industrial Development Revenue | |||
(1st Philadelphia Preparatory) Series A 7.25% 6/15/43 | 1,230,000 | 1,247,380 | |
Phoenix, Arizona Industrial Development Authority Education Revenue | |||
(Basic Schools Project) | |||
Series 2015A 144A 5.00% 7/1/46 # | 4,000,000 | 3,618,480 | |
Series 2016A 144A 5.00% 7/1/45 # | 2,000,000 | 1,822,720 | |
Phoenix, Arizona Industrial Development Authority Student Housing Revenue | |||
(Downtown Phoenix Student Housing, LLC-Arizona State University Project) Series A 5.00% 7/1/42 | 1,000,000 | 985,680 | |
Pima County, Arizona Industrial Development Authority Education Revenue | |||
(American Leadership Academy Project) | |||
144A 4.00% 6/15/57 # | 500,000 | 355,175 | |
144A 4.00% 6/15/57 # | 4,000,000 | 2,840,600 |
NQ- VQ [1123] 0124 (3318286) 7
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
Pima County, Arizona Industrial Development Authority Education Revenue | |||
(Career Success Schools Project) | |||
144A 5.50% 5/1/40 # | 500,000 | $ 474,095 | |
144A 5.75% 5/1/50 # | 2,530,000 | 2,382,804 | |
(Edkey Charter Schools Project) | |||
144A 5.00% 7/1/49 # | 7,000,000 | 6,061,020 | |
144A 5.00% 7/1/55 # | 7,370,000 | 6,253,740 | |
Pottsboro, Texas Higher Education Finance Authority Revenue | |||
Series A 5.00% 8/15/36 | 755,000 | 727,443 | |
Series A 5.00% 8/15/46 | 1,000,000 | 896,170 | |
Public Finance Authority | |||
Public Finance Authority Education Revenue | |||
144A 5.25% 12/1/39 # | 5,000,000 | 4,204,100 | |
Series A 5.125% 2/1/46 # | 3,000,000 | 2,623,800 | |
Series A 144A 5.50% 6/15/45 # | 6,000,000 | 5,982,180 | |
South Carolina Jobs-Economic Development Authority Revenue | |||
(Green Charter Schools Project) | |||
Series A 144A 4.00% 6/1/46 # | 2,300,000 | 1,595,947 | |
Series A 144A 4.00% 6/1/56 # | 1,530,000 | 974,518 | |
(High Point Academy Project) Series A 144A 5.75% 6/15/49 # | 5,000,000 | 5,012,250 | |
(Riverwalk Academy Project) | |||
Series A 144A 7.125% 6/15/53 # | 2,550,000 | 2,568,258 | |
Series A 144A 7.25% 6/15/58 # | 2,915,000 | 2,935,784 | |
(Virtus Academy Project) | |||
Series A 144A 6.75% 6/15/43 # | 940,000 | 936,936 | |
Series A 144A 7.00% 6/15/53 # | 1,830,000 | 1,834,154 | |
Series A 144A 7.125% 6/15/58 # | 1,510,000 | 1,519,966 | |
St. Louis, Missouri Industrial Development Authority Tax Increment Revenue Improvement | |||
(Confluence Academy Project) Series A 144A 5.625% 6/15/53 # | 4,805,000 | 4,233,109 | |
St. Paul, Minnesota Housing & Redevelopment Authority Charter School Lease Revenue | |||
(Academia Cesar Chavez School Project) Series A 5.25% 7/1/50 | 2,560,000 | 2,112,896 | |
University of Texas System Board of Regents | |||
Series B 5.00% 8/15/49 | 24,915,000 | 28,612,884 |
8 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
University of Virginia | |||
Series A 2.18% 11/1/51 | 10,000,000 | $ 6,051,100 | |
University of Virginia Revenue | |||
(Green Bond) Series 2 3.57% 4/1/45 | 10,000,000 | 8,941,300 | |
Upper Dauphin, Pennsylvania Industrial Development Authority Revenue | |||
(Pennsylvania Steam Academy Charter School Project) Series A 144A 6.25% 7/1/57 # | 2,400,000 | 2,183,400 | |
Upper Illinois River Valley Development Authority Revenue | |||
(Elgin Math And Science Academy Charter School Project) Series A 144A 6.00% 3/1/63 # | 2,990,000 | 2,826,686 | |
Utah State Charter School Finance Authority Revenue | |||
(Leadership Learning Academy Project) | |||
Series A 144A 5.00% 6/15/39 # | 1,000,000 | 933,360 | |
Series A 144A 5.00% 6/15/50 # | 2,200,000 | 1,904,452 | |
Washington State Housing Finance Commission Revenue | |||
(Seattle Academy Of Arts And Sciences Project) 144A 6.375% 7/1/63 # | 3,000,000 | 3,212,010 | |
Wisconsin Public Finance Authority Revenue | |||
(Founders Academy of Las Vegas) | |||
Series A 144A 6.375% 7/1/43 # | 300,000 | 303,477 | |
Series A 144A 6.625% 7/1/53 # | 600,000 | 607,602 | |
Series A 144A 6.75% 7/1/58 # | 550,000 | 559,394 | |
(Minnesota College of Osteopathic Medicine) | |||
Series A-1 144A 5.50% 12/1/48 #, ‡ | 125,528 | 38,914 | |
Subordinate Series B 144A 7.75% 12/1/48 #, • | 2,500,000 | 25,000 | |
(Pine Lake Preparatory) 144A 5.50% 3/1/45 # | 3,460,000 | 3,474,325 | |
(Shining Rock Classical Academy) | |||
Series A 6.00% 6/15/52 | 1,000,000 | 913,790 | |
Series A 6.125% 6/15/57 | 1,000,000 | 914,910 | |
(Wilson Preparatory Academy) | |||
Series A 144A 4.125% 6/15/29 # | 395,000 | 373,717 | |
Series A 144A 5.00% 6/15/39 # | 500,000 | 472,110 | |
Series A 144A 5.00% 6/15/49 # | 1,100,000 | 972,840 |
NQ- VQ [1123] 0124 (3318286) 9
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Education Revenue Bonds (continued) | |||
Yonkers Economic Development | |||
(Lamartine/Warburton LLC - Charter School of Educational Excellence Project) Series A 5.00% 10/15/49 | 1,000,000 | $ 872,930 | |
Yonkers, New York Economic Development Education Revenue | |||
(Lamartine/Warburton LLC - Charter School of Educational Excellence Project) Series A 5.00% 10/15/54 | 465,000 | 398,231 | |
463,699,026 | |||
Electric Revenue Bonds — 1.38% | |||
Build NYC, New York Resource Revenue | |||
(Brooklyn Navy Yard Cogeneration Partners, L.P. Project) 144A 5.25% 12/31/33 (AMT) # | 4,520,000 | 3,993,556 | |
Burke County Development Authority Pollution Control Revenue | |||
(Oglethorpe Power Corporation Vogtle Project) Series A 1.50% 1/1/40 • | 700,000 | 668,850 | |
California Community Choice Financing Authority Revenue | |||
(Clean Energy Project) Series C 5.25% 1/1/54 • | 3,000,000 | 3,093,240 | |
Guam Power Authority Revenue | |||
(Tax-Exempt Forward Delivery) | |||
Series A 5.00% 10/1/38 | 135,000 | 141,326 | |
Series A 5.00% 10/1/44 | 6,000,000 | 6,117,180 | |
Puerto Rico Electric Power Authority Revenue | |||
Series A 5.00% 7/1/42 ‡ | 8,615,000 | 2,175,287 | |
Series A 5.05% 7/1/42 ‡ | 4,590,000 | 1,158,975 | |
Series A 6.75% 7/1/36 ‡ | 1,500,000 | 378,750 | |
Series AAA 5.25% 7/1/25 ‡ | 925,000 | 233,563 | |
Series AAA 5.25% 7/1/26 ‡ | 1,030,000 | 260,075 | |
Series AAA 5.25% 7/1/27 ‡ | 5,330,000 | 1,345,825 | |
Series AAA 5.25% 7/1/28 ‡ | 1,205,000 | 304,263 | |
Series CCC 5.25% 7/1/27 ‡ | 5,525,000 | 1,395,062 | |
Series TT 5.00% 7/1/23 ‡ | 2,785,000 | 696,250 | |
Series TT 5.00% 7/1/37 ‡ | 5,230,000 | 1,320,575 | |
Series WW 5.00% 7/1/28 ‡ | 6,040,000 | 1,525,100 | |
Series WW 5.25% 7/1/25 ‡ | 1,530,000 | 386,325 | |
Series WW 5.25% 7/1/33 ‡ | 1,260,000 | 318,150 | |
Series WW 5.50% 7/1/38 ‡ | 9,035,000 | 2,281,337 |
10 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Electric Revenue Bonds (continued) | |||
Puerto Rico Electric Power Authority Revenue | |||
Series XX 4.75% 7/1/26 ‡ | 920,000 | $ 232,300 | |
Series XX 5.25% 7/1/40 ‡ | 19,300,000 | 4,873,250 | |
Series XX 5.75% 7/1/36 ‡ | 7,470,000 | 1,886,175 | |
Series ZZ 4.75% 7/1/27 ‡ | 760,000 | 191,900 | |
Series ZZ 5.25% 7/1/24 ‡ | 1,275,000 | 321,938 | |
Series ZZ 5.25% 7/1/26 ‡ | 7,005,000 | 1,768,762 | |
37,068,014 | |||
Healthcare Revenue Bonds — 14.40% | |||
Apple Valley, Minnesota | |||
(Senior Living, LLC Project Fourth Tier) Series D 7.25% 1/1/52 | 7,410,000 | 4,626,285 | |
(Senior Living, LLC Project Second Tier) | |||
Series B 5.00% 1/1/47 | 2,375,000 | 1,381,965 | |
Series B 5.25% 1/1/37 | 420,000 | 300,321 | |
Arizona Industrial Development Authority Revenue | |||
(Great Lakes Senior Living Communities LLC Project First Tier) Series A 5.00% 1/1/54 | 2,595,000 | 1,529,779 | |
(Great Lakes Senior Living Communities LLC Project Fourth Tier) | |||
144A 7.75% 1/1/54 # | 2,100,000 | 1,046,388 | |
Series D 144A 7.25% 1/1/54 # | 2,500,000 | 1,209,850 | |
(Great Lakes Senior Living Communities LLC Project Second Tier) | |||
Series B 5.00% 1/1/49 | 975,000 | 502,505 | |
Series B 5.125% 1/1/54 | 1,130,000 | 561,678 | |
(Great Lakes Senior Living Communities LLC Project Third Tier) | |||
Series C 144A 5.00% 1/1/49 # | 1,000,000 | 460,520 | |
Series C 144A 5.50% 1/1/54 # | 4,000,000 | 1,944,520 | |
Bexar County Health Facilities Development Revenue | |||
(Army Retirement Residence Foundation Project) 5.00% 7/15/41 | 5,395,000 | 4,659,823 | |
Birmingham, Alabama Special Care Facilities Financing Authority Revenue | |||
(Methodist Home for the Aging) | |||
5.50% 6/1/30 | 1,850,000 | 1,754,189 | |
5.75% 6/1/35 | 1,500,000 | 1,391,565 | |
5.75% 6/1/45 | 2,500,000 | 2,080,475 | |
6.00% 6/1/50 | 3,130,000 | 2,636,837 |
NQ- VQ [1123] 0124 (3318286) 11
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
California Educational Facilities Authority Revenue | |||
(Stanford University) Series V-2 5.00% 4/1/51 | 7,455,000 | $ 8,684,926 | |
California Health Facilities Financing Authority Revenue | |||
(Cedars-Sinai Health System) | |||
Series A 3.00% 8/15/51 | 15,170,000 | 11,278,895 | |
Series A 3.00% 8/15/51 (AGM) | 1,025,000 | 792,745 | |
(Kaiser Permanente) Series A-2 5.00% 11/1/47 | 9,870,000 | 11,194,949 | |
California Municipal Finance Authority Revenue | |||
(Community Health System Project) Series A 3.00% 2/1/46 (AGM) | 10,000,000 | 7,505,100 | |
(Goodwill Industry Sacramento Valley and Northern Nevada Project) | |||
5.25% 1/1/45 | 1,295,000 | 994,184 | |
Series A 144A 6.625% 1/1/32 # | 500,000 | 485,410 | |
Series A 144A 6.875% 1/1/42 # | 1,500,000 | 1,402,620 | |
(Northbay Healthcare Group) Series A 5.25% 11/1/47 | 500,000 | 478,820 | |
California Statewide Communities Development Authority Revenue | |||
(Enloe Medical Center) Series A 5.375% 8/15/57 (AGM) | 2,000,000 | 2,174,420 | |
Capital Trust Agency Senior Living Facilities Revenue | |||
(Elim Senior Housing Inc. Project) 144A 5.875% 8/1/52 # | 2,000,000 | 1,411,600 | |
Chicago, Illinois Multi-Family Housing Revenue | |||
(Goldblatts Supportive Living Project) 6.125% 12/1/43 ‡ | 8,560,000 | 5,292,562 | |
City of Kalispell, Montana | |||
(Immanuel Lutheran Corporation Project) Series A 5.25% 5/15/47 | 1,500,000 | 1,183,785 | |
Clackamas County, Oregon Hospital Facility Authority Revenue | |||
(Rose Villa Project) | |||
Series A 5.25% 11/15/50 | 1,000,000 | 887,010 | |
Series A 5.375% 11/15/55 | 1,000,000 | 888,330 | |
Colorado Health Facilities Authority Revenue | |||
(Aberdeen Ridge) Series A 5.00% 5/15/58 | 500,000 | 280,750 |
12 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Colorado Health Facilities Authority Revenue | |||
(AdventHealth Obligated Group) Series A 3.00% 11/15/51 | 7,000,000 | $ 5,011,720 | |
(American Baptist) 8.00% 8/1/43 | 2,500,000 | 2,475,175 | |
(Capella of Grand Junction Project) 144A 5.00% 12/1/54 # | 1,255,000 | 770,093 | |
(Mental Health Center Denver Project) Series A 5.75% 2/1/44 | 500,000 | 500,435 | |
(Sunny Vista Living Center) | |||
Series A 144A 5.50% 12/1/30 # | 750,000 | 604,553 | |
Series A 144A 5.75% 12/1/35 # | 1,150,000 | 845,940 | |
Series A 144A 6.125% 12/1/45 # | 1,200,000 | 808,092 | |
Series A 144A 6.25% 12/1/50 # | 560,000 | 371,526 | |
Connecticut State Health & Educational Facilities Authority Revenue | |||
(Church Home of Hartford Incorporated Project) | |||
Series A 144A 5.00% 9/1/46 # | 1,000,000 | 805,830 | |
Series A 144A 5.00% 9/1/53 # | 1,600,000 | 1,237,584 | |
Cuyahoga County, Ohio Hospital Revenue | |||
(The Metrohealth System) | |||
5.25% 2/15/47 | 4,000,000 | 4,019,240 | |
5.50% 2/15/52 | 4,930,000 | 4,989,160 | |
Decatur, Texas Hospital Authority Revenue | |||
(Wise Regional Health System) | |||
Series C 4.00% 9/1/29 | 491,000 | 475,229 | |
Series C 4.00% 9/1/34 | 987,000 | 925,421 | |
Series C 4.00% 9/1/44 | 2,036,000 | 1,697,128 | |
Escambia County, Florida Health Facilities Authority Revenue | |||
(Baptist Healthcare Corporation Obligated Group) Series A 4.00% 8/15/50 | 8,065,000 | 6,874,606 | |
Gainesville & Hall County Hospital Authority Revenue | |||
(Northeast Georgia Health System Project) 3.00% 2/15/47 | 3,775,000 | 2,808,449 | |
Glendale, Arizona Industrial Development Authority Revenue | |||
(Glencroft Retirement Community Project) | |||
5.00% 11/15/36 | 950,000 | 751,336 | |
5.25% 11/15/51 | 1,350,000 | 929,880 | |
Guilderland, New York Industrial Development Agency | |||
Series A 144A 5.875% 1/1/52 #, ‡ | 6,000,000 | 3,900,000 |
NQ- VQ [1123] 0124 (3318286) 13
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Health and Educational Facilities Authority of the State of Missouri Health Facilities Revenue | |||
(Mercy Health) 4.00% 6/1/53 | 4,810,000 | $ 4,388,596 | |
Henrico County, Virginia Economic Development Authority Residential Care Facility Revenue | |||
(Westminster Canterbury Richmond) Series A 5.00% 10/1/47 | 2,170,000 | 2,191,071 | |
Idaho Health Facilities Authority Revenue | |||
(St. Luke's Health System Project) | |||
Series A 3.00% 3/1/51 | 7,430,000 | 5,239,190 | |
Series A 4.00% 3/1/51 | 2,000,000 | 1,782,820 | |
(Valley Vista Care Corporation) Series A 5.00% 11/15/32 | 455,000 | 394,399 | |
Illinois Finance Authority Revenue | |||
(Plymouth Place, Inc.) Series A 6.75% 5/15/58 | 3,000,000 | 3,042,000 | |
(The Admiral at the Lake Project) | |||
5.25% 5/15/42 | 900,000 | 721,530 | |
5.25% 5/15/54 | 5,910,000 | 4,286,996 | |
5.50% 5/15/54 | 3,375,000 | 2,548,024 | |
Illinois Housing Development Authority Revenue | |||
(Stonebridge of Gurnee Project) | |||
Series A 144A 5.45% 1/1/46 # | 2,500,000 | 1,762,675 | |
Series A 144A 5.60% 1/1/56 # | 2,630,000 | 1,780,116 | |
Iowa Finance Authority Revenue | |||
(Childserve Project) Series B 5.00% 6/1/36 | 2,425,000 | 2,194,116 | |
(PHS Council Bluffs Project) | |||
5.125% 8/1/48 | 1,750,000 | 1,327,112 | |
5.25% 8/1/55 | 2,500,000 | 1,836,700 | |
Jefferson County, Washington Public Hospital District No. 2 | |||
Series A 6.875% 12/1/53 | 8,880,000 | 8,921,825 | |
Kalispell, Montana | |||
Series A 5.25% 5/15/32 | 435,000 | 408,395 | |
(Immanuel Lutheran Corporation Project) Series A 5.25% 5/15/52 | 5,420,000 | 4,158,658 | |
Kentucky Economic Development Finance Authority Healthcare Revenue | |||
(Rosedale Green Project) | |||
5.50% 11/15/35 | 1,310,000 | 1,189,087 |
14 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Kentucky Economic Development Finance Authority Healthcare Revenue | |||
(Rosedale Green Project) | |||
5.75% 11/15/45 | 3,000,000 | $ 2,509,200 | |
5.75% 11/15/50 | 1,600,000 | 1,304,592 | |
Kirkwood, Missouri Industrial Development Authority Revenue | |||
(Aberdeen Heights Project) Series A 5.25% 5/15/50 | 9,000,000 | 6,635,880 | |
Lake County, Florida Retirement Facility Revenue | |||
(Lakeside At Waterman Village Project) | |||
Series A 5.75% 8/15/50 | 2,500,000 | 2,153,850 | |
Series A 5.75% 8/15/55 | 1,500,000 | 1,272,195 | |
Lancaster County, Pennsylvania Hospital Authority Revenue | |||
5.00% 11/1/51 | 4,670,000 | 4,789,692 | |
Lenexa | |||
Lenexa City, Kansas health Care Facility Revenue | |||
Series A 4.00% 5/15/34 | 1,000,000 | 868,950 | |
Series A 5.00% 5/15/39 | 1,500,000 | 1,382,910 | |
Louisiana Local Government Environmental Facilities & Community Development Authority Revenue | |||
(The Glen Retirement System Project) | |||
Series A 5.00% 1/1/49 | 3,500,000 | 2,362,500 | |
Series A 5.00% 1/1/55 | 2,635,000 | 1,703,554 | |
Maricopa County, Arizona Industrial Development Authority Revenue | |||
(Christian Care Surprise Project) Series 2016 144A 6.00% 1/1/48 # | 5,645,000 | 3,922,485 | |
Michigan Finance Authority Hospital Revenue | |||
(Trinity Health Credit Group) Series A 3.00% 12/1/49 | 12,000,000 | 8,777,520 | |
Michigan State Strategic Fund Limited Revenue | |||
(Evangelical Homes) 5.50% 6/1/47 | 2,560,000 | 2,107,674 | |
Montgomery County, Pennsylvania Industrial Development Authority Revenue | |||
(Whitemarsh Continuing Care) | |||
5.25% 1/1/40 | 1,550,000 | 1,372,556 | |
5.375% 1/1/50 | 6,250,000 | 5,221,937 | |
Series A 5.375% 1/1/51 | 2,000,000 | 1,662,140 |
NQ- VQ [1123] 0124 (3318286) 15
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Moon, Pennsylvania Industrial Development Authority Revenue | |||
(Baptist Homes Society Obligation) 6.125% 7/1/50 | 8,935,000 | $ 6,327,946 | |
Muskingum County | |||
Muskingum County Ohio Hospital Facilities Revenue 5.00% 2/15/48 | 2,000,000 | 1,805,320 | |
Nassau County Industrial Development Agency Revenue | |||
(Amsterdam at Harborside Project) Series B 5.00% 1/1/58 • | 10,884,206 | 2,607,312 | |
National Finance Authority Revenue | |||
(The Vista Project) | |||
Series A 144A 5.25% 7/1/39 # | 1,515,000 | 1,342,002 | |
Series A 144A 5.625% 7/1/46 # | 1,000,000 | 879,940 | |
Series A 144A 5.75% 7/1/54 # | 2,000,000 | 1,742,500 | |
New Hope, Texas Cultural Education Facilities Finance Revenue | |||
(Army Retirement Residence Foundation Project) 6.00% 7/15/57 | 6,000,000 | 5,560,980 | |
(Buckingham Senior Living Community, Inc. Project) | |||
Series A-1 7.50% 11/15/37 | 120,000 | 90,866 | |
Series A-2 7.50% 11/15/36 | 745,000 | 604,948 | |
Series B 2.00% 11/15/61 ~, • | 3,119,242 | 1,151,749 | |
(Cardinal Bay - Village on the Park) | |||
Series A1 5.00% 7/1/46 | 660,000 | 452,100 | |
Series A1 5.00% 7/1/51 | 1,575,000 | 1,078,875 | |
Series B 4.00% 7/1/31 | 635,000 | 285,750 | |
Series B 4.75% 7/1/51 | 1,915,000 | 861,750 | |
Series C 5.00% 7/1/31 ‡ | 250,000 | 87,500 | |
Series C 5.25% 7/1/36 ‡ | 350,000 | 122,500 | |
Series C 5.75% 7/1/51 ‡ | 2,250,000 | 787,500 | |
Series D 6.00% 7/1/26 ‡ | 90,000 | 27,000 | |
Series D 7.00% 7/1/51 ‡ | 1,350,000 | 405,000 | |
(Legacy Midtown Park Project) Series A 5.50% 7/1/54 | 5,000,000 | 3,740,600 | |
(Sanctuary LTC Project) Series A-1 5.50% 1/1/57 | 12,635,000 | 8,786,379 | |
(The Outlook at Windhaven Project) | |||
Series A 6.75% 10/1/52 | 1,000,000 | 885,230 |
16 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
New Hope, Texas Cultural Education Facilities Finance Revenue | |||
(The Outlook at Windhaven Project) | |||
Series A 6.875% 10/1/57 | 6,500,000 | $ 5,786,105 | |
New Jersey Economic Development Authority | |||
(Black Horse EHT Urban Renewal LLC Project) Series A 144A 5.00% 10/1/39 #, ‡ | 3,125,000 | 2,032,031 | |
(Lions Gate Project) 5.25% 1/1/44 | 2,000,000 | 1,815,360 | |
New York State Dormitory Authority Revenue | |||
(Garnet Health Medical Center) 144A 5.00% 12/1/40 # | 800,000 | 767,720 | |
North Carolina Medical Care Commission Health Care Facilities Revenue | |||
(Novant Health Obligated Group) Series A 3.125% 11/1/49 | 5,000,000 | 3,698,450 | |
Northampton County, Pennsylvania Industrial Development Authority Revenue | |||
(Morningstar Senior Living) 5.00% 11/1/49 | 1,830,000 | 1,492,017 | |
Oklahoma Development Finance Authority Revenue | |||
(OU Medicine Project) Series B 5.50% 8/15/57 | 3,000,000 | 2,880,720 | |
Orange County, New York Funding Assisted Living Residence Revenue | |||
6.50% 1/1/46 | 8,400,000 | 6,551,916 | |
Palomar Health Revenue | |||
4.00% 11/1/39 | 4,375,000 | 3,927,044 | |
Payne County, Oklahoma Economic Development Authority Revenue | |||
(Epworth Living at the Ranch) Series A 7.00% 11/1/51 ‡ | 961,600 | 673 | |
Pennsylvania Economic Development Financing Authority Revenue | |||
(Tapestry Moon Senior Housing Project) Series 2018A 144A 6.75% 12/1/53 #, ‡ | 10,495,000 | 4,001,219 | |
Pennsylvania Higher Educational Facilities Authority Revenue | |||
4.00% 8/15/49 | 4,770,000 | 4,466,294 | |
Prince George's County, Maryland | |||
(Collington Episcopal Life Care Community) 5.25% 4/1/47 | 2,000,000 | 1,755,960 |
NQ- VQ [1123] 0124 (3318286) 17
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Rochester, Minnesota | |||
(The Homestead at Rochester) Series A 6.875% 12/1/48 | 2,500,000 | $ 2,414,800 | |
Salem Hospital Facility Authority | |||
Salem, Oregon Hospital Facility Authority Revenue 5.00% 5/15/53 | 1,895,000 | 1,634,475 | |
Seminole County, Florida Industrial Development Authority Revenue | |||
(Legacy Pointe at UCF Project) | |||
Series A 5.25% 11/15/39 | 2,000,000 | 1,606,000 | |
Series A 5.50% 11/15/49 | 8,000,000 | 6,042,880 | |
Shelby County, Tennessee Health Educational & Housing Facilities Board Revenue | |||
(The Farms at Bailey Station Project) 5.75% 10/1/59 | 3,830,000 | 2,643,849 | |
Southeastern Ohio Port Authority Revenue | |||
(Memorial Health Systems) | |||
5.00% 12/1/43 | 805,000 | 657,347 | |
5.50% 12/1/43 | 1,250,000 | 1,111,837 | |
St. Louis County, Missouri Industrial Development Authority Revenue | |||
(Nazareth Living Center Project) | |||
Series A 5.00% 8/15/35 | 600,000 | 537,900 | |
Series A 5.125% 8/15/45 | 1,800,000 | 1,483,974 | |
Tarrant County, Texas Cultural Education Facilities Finance Revenue | |||
(Air Force Villages Obligated Group Project) 5.00% 5/15/45 | 8,650,000 | 6,970,343 | |
(Buckner Senior Living - Ventana Project) | |||
Series A 6.75% 11/15/47 | 3,250,000 | 3,266,607 | |
Series A 6.75% 11/15/52 | 5,800,000 | 5,817,284 | |
Tempe, Arizona Industrial Development Authority Revenue | |||
(Mirabella at ASU Project) | |||
Series A 144A 6.125% 10/1/47 # | 2,150,000 | 1,228,747 | |
Series A 144A 6.125% 10/1/52 # | 2,570,000 | 1,421,261 | |
Terre Haute | |||
Terre Haute Revenue 6.00% 8/1/39 | 4,000,000 | 2,390,720 | |
Topeka City, Kansas Healthcare Facilities Revenue | |||
(Brewster Place) | |||
Series A 6.25% 12/1/42 | 1,500,000 | 1,469,010 |
18 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Topeka City, Kansas Healthcare Facilities Revenue | |||
(Brewster Place) | |||
Series A 6.50% 12/1/52 | 2,000,000 | $ 1,951,600 | |
University of North Carolina Board of Governors Revenue | |||
5.00% 2/1/49 | 19,355,000 | 21,255,274 | |
Westchester County, New York Local Development Revenue | |||
(Purchase Senior Learning Community, Inc. Project) Series A 144A 5.00% 7/1/56 # | 4,250,000 | 3,261,110 | |
Westminster, Maryland Project Revenue | |||
(Lutheran Village Millers Grant) | |||
Series A 5.00% 7/1/24 | 315,000 | 315,287 | |
Series A 6.00% 7/1/34 | 1,000,000 | 1,003,580 | |
Series A 6.125% 7/1/39 | 750,000 | 751,777 | |
Series A 6.25% 7/1/44 | 2,500,000 | 2,505,850 | |
Wisconsin Health & Educational Facilities Authority Revenue | |||
(Children's Hospital of Wisconsin) 3.00% 8/15/52 | 3,000,000 | 2,074,260 | |
(Covenant Communities Project) | |||
Series B 5.00% 7/1/48 | 1,000,000 | 723,810 | |
Series B 5.00% 7/1/53 | 945,000 | 660,583 | |
Series C 7.00% 7/1/43 | 1,000,000 | 711,510 | |
Series C 7.50% 7/1/53 | 1,000,000 | 717,170 | |
(St. Camillus Health System) | |||
Series A 5.00% 11/1/39 | 635,000 | 534,156 | |
Series A 5.00% 11/1/46 | 1,000,000 | 779,920 | |
Series A 5.00% 11/1/54 | 3,500,000 | 2,601,585 | |
Wisconsin Public Finance Authority Revenue | |||
(Goodwill Industries of Southern Nevada Project) | |||
Series A 5.50% 12/1/38 | 2,572,956 | 2,248,995 | |
Series A 5.75% 12/1/48 | 2,576,272 | 2,143,664 | |
(Bancroft Neurohealth Project) | |||
Series A 144A 5.00% 6/1/36 # | 960,000 | 877,229 | |
Series A 144A 5.125% 6/1/48 # | 1,375,000 | 1,177,715 | |
Woodbury, Minnesota Housing & Redevelopment Authority Revenue | |||
(St. Therese of Woodbury) 5.125% 12/1/44 | 1,250,000 | 1,075,063 |
NQ- VQ [1123] 0124 (3318286) 19
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Healthcare Revenue Bonds (continued) | |||
Yamhill County, Oregon Hospital Authority Revenue | |||
(Friendsview) Series A 5.00% 11/15/56 | 1,600,000 | $ 1,172,624 | |
386,094,200 | |||
Housing Revenue Bonds — 3.01% | |||
City of Dallas, Texas Housing Finance Revenue | |||
Residential Development-Senior Lien Series A 6.00% 12/1/62 | 2,000,000 | 1,958,680 | |
Connecticut Housing Finance Authority Revenue | |||
(Housing Mortgage Finance Program) Series D 5.35% 11/15/48 | 7,000,000 | 7,298,270 | |
CSCDA Community Improvement Authority Essential Housing Revenue | |||
(Jefferson-Anaheim) Series A-2 144A 3.125% 8/1/56 # | 1,500,000 | 1,006,290 | |
(Parallel - Anaheim) Series A 144A 4.00% 8/1/56 # | 700,000 | 509,866 | |
(Pasadena Portfolio) Series A-2 144A 3.00% 12/1/56 # | 5,800,000 | 3,783,862 | |
Georgia Housing & Finance Authority Revenue | |||
Series B 5.05% 12/1/43 | 2,500,000 | 2,648,200 | |
Series B 5.20% 12/1/48 | 1,615,000 | 1,707,120 | |
Series B 5.25% 6/1/51 | 2,000,000 | 2,111,480 | |
Idaho Housing & Finance Association Single Family Mortgage Revenue | |||
Series C 4.80% 7/1/53 | 6,000,000 | 6,068,820 | |
Illinois Housing Development Authority Revenue | |||
(Social Bonds) Series K 5.35% 4/1/47 | 7,400,000 | 7,708,950 | |
Independent Cities Finance Authority, California | |||
Series A 5.25% 5/15/44 | 750,000 | 753,592 | |
Indiana Housing & Community Development Authority Single Family Mortgage Revenue | |||
Series 1 5.00% 7/1/43 | 1,500,000 | 1,546,215 | |
Series 1 5.125% 7/1/48 | 1,850,000 | 1,886,815 | |
Series 1 5.20% 7/1/53 | 5,000,000 | 5,123,800 | |
Nebraska Investment Finance Authority Single Family Housing Revenue | |||
(Social Bonds) Series G 5.40% 9/1/53 | 5,000,000 | 5,152,250 |
20 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Housing Revenue Bonds (continued) | |||
New York City, New York Housing Development Revenue | |||
(Sustainable Development Bonds) 4.80% 2/1/53 | 5,000,000 | $ 5,109,650 | |
Pennsylvania Housing Finance Agency Single Family Mortgage Revenue | |||
Series A 5.00% 10/1/50 | 10,340,000 | 10,587,023 | |
(Social Bonds) | |||
5.45% 4/1/51 | 5,000,000 | 5,210,550 | |
Series 141A 4.60% 10/1/43 | 1,645,000 | 1,668,984 | |
Rhode Island Housing & Mortgage Finance Revenue | |||
Series A 4.65% 10/1/53 | 3,000,000 | 2,996,820 | |
South Carolina State Housing Finance & Development Authority Revenue | |||
Series B 4.90% 7/1/53 | 1,500,000 | 1,531,200 | |
Virginia Housing Development Authority | |||
Series A 5.30% 11/1/53 | 3,500,000 | 3,627,750 | |
Wisconsin Housing & Economic Development Authority Housing Revenue | |||
Series C 3.00% 5/1/59 | 1,100,000 | 724,713 | |
80,720,900 | |||
Industrial Development Revenue/Pollution ControlRevenue Bonds — 24.25% | |||
Allegheny County, Pennsylvania Industrial Development Authority Revenue | |||
(United States Steel Corporation Project) 5.75% 8/1/42 | 2,000,000 | 2,000,080 | |
Arizona Industrial Development Authority Revenue | |||
(Legacy Cares, Inc. Project) | |||
Series A 144A 6.00% 7/1/51 #, ‡ | 6,540,000 | 392,400 | |
Series A 144A 7.75% 7/1/50 #, ‡ | 21,330,000 | 1,279,800 | |
Arkansas Development Finance Authority Revenue | |||
(Hybar Steel Project) | |||
144A 12.00% 7/1/48 # | 10,000,000 | 10,395,500 | |
Series A 144A 6.875% 7/1/48 (AMT) # | 10,000,000 | 10,299,400 | |
(United States Steel Corporation Project) 5.70% 5/1/53 (AMT) | 18,750,000 | 18,782,437 | |
Buckeye, Ohio Tobacco Settlement Financing Authority Revenue | |||
(Senior) | |||
Series A-2 3.00% 6/1/48 | 13,775,000 | 10,018,282 | |
Series A-2 4.00% 6/1/48 | 150,000 | 131,445 |
NQ- VQ [1123] 0124 (3318286) 21
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Industrial Development Revenue/Pollution ControlRevenue Bonds (continued) | |||
Buckeye, Ohio Tobacco Settlement Financing Authority Revenue | |||
(Senior) | |||
Series B-2 5.00% 6/1/55 | 67,365,000 | $ 59,519,672 | |
Calhoun County, Texas Navigation Industrial Development Authority Revenue | |||
(Max Midstream Texas, LLC Project) Series A 144A 3.625% 7/1/26 (AMT) # | 3,285,000 | 3,026,241 | |
California County Tobacco Securitization Agency Revenue | |||
Series D 8.238% 6/1/55 ^ | 6,250,000 | 430,313 | |
California County Tobacco Securitization Agency Settlement Revenue | |||
(Capital Appreciation Bond - Fresno County Tobacco Funding Corporation) 8.613% 6/1/55 ^ | 100,000,000 | 9,361,000 | |
California Infrastructure & Economic Development Bank Revenue | |||
(Brightline West Passenger Rail Project) 144A 8.00% 1/1/50 (AMT)��#, • | 13,500,000 | 13,672,800 | |
California Pollution Control Financing Authority Revenue | |||
(Calplant I Project) | |||
144A 7.50% 7/1/32 (AMT) #, ‡ | 1,600,000 | 80,000 | |
144A 8.00% 7/1/39 (AMT) #, ‡ | 5,250,000 | 262,500 | |
Chicago, Illinois O'Hare International Airport Special Facilities Revenue | |||
(Trips Obligated Group) 5.00% 7/1/48 | 150,000 | 150,180 | |
Children's Trust Fund, Puerto Rico | |||
(Asset-Backed) | |||
Series A 0.072% 5/15/57 ^ | 225,000,000 | 16,627,500 | |
Series B 9.403% 5/15/57 ^ | 3,420,000 | 191,588 | |
District of Columbia Tobacco Settlement Financing Revenue | |||
(Capital Appreciation-Asset-Backed) | |||
Series C 3.88% 6/15/55 ^ | 121,000,000 | 11,821,700 | |
Series D 7.392% 6/15/55 ^ | 262,500,000 | 23,052,750 | |
Erie, New York Tobacco Asset Securitization | |||
(Asset-Backed) | |||
Series A 144A 9.212% 6/1/60 #, ^ | 196,565,000 | 11,506,915 |
22 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Industrial Development Revenue/Pollution ControlRevenue Bonds (continued) | |||
Erie, New York Tobacco Asset Securitization | |||
(Asset-Backed) | |||
Series D 7.815% 6/1/55 ^ | 4,000,000 | $ 279,560 | |
Finance Authority of Maine Solid Waste Disposal Revenue | |||
(Casella Waste System Project) Series R-2 144A 4.375% 8/1/35 (AMT) #, • | 1,000,000 | 986,360 | |
Florida Development Finance Revenue | |||
(Brightline Florida Passenger Rail Expansion Project) Series A 144A 7.50% 7/1/57 (AMT) #, • | 11,900,000 | 11,823,245 | |
(Brightline Passenger Rail Project) Series B 144A 7.375% 1/1/49 (AMT) # | 21,540,000 | 21,633,914 | |
(Virgin Trains USA Passenger Rail Project) | |||
Series A 144A 6.25% 1/1/49 (AMT) #, • | 4,000,000 | 3,996,840 | |
Series A 144A 6.50% 1/1/49 (AMT) #, • | 8,905,000 | 8,618,348 | |
George L Smith II Georgia World Congress Center Authority Revenue | |||
Series A 4.00% 1/1/54 | 13,060,000 | 10,882,637 | |
(Convention Center Hotel Second Tier) Series B 144A 5.00% 1/1/54 # | 10,000,000 | 8,327,400 | |
Golden State, California Tobacco Securitization Settlement Revenue | |||
Series B-2 1.355% 6/1/66 ^ | 355,550,000 | 37,101,642 | |
Houston City, Texas Airport System Revenue | |||
(United Airlines Inc.) 5.00% 7/1/29 (AMT) | 1,150,000 | 1,147,436 | |
Houston, Texas Airport System Revenue | |||
Series B-1 5.00% 7/15/35 (AMT) | 3,000,000 | 2,944,800 | |
(Special Facilities Continental Airlines, Inc. Terminal Improvements Projects) Series 2011 6.625% 7/15/38 (AMT) | 2,000,000 | 2,000,520 | |
Indiana Finance Authority Exempt Facility Revenue | |||
(Polyflow Indiana Project - Green Bonds) 144A 7.00% 3/1/39 (AMT) # | 6,835,000 | 4,997,069 | |
Inland, California Empire Tobacco Securitization | |||
(Capital Appreciation-Asset-Backed) | |||
Series E 144A 8.455% 6/1/57 #, ^ | 383,610,000 | 26,419,221 | |
Series F 144A 5.666% 6/1/57 #, ^ | 406,910,000 | 22,888,687 |
NQ- VQ [1123] 0124 (3318286) 23
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Industrial Development Revenue/Pollution ControlRevenue Bonds (continued) | |||
Iowa Finance Authority Midwestern Disaster Area Revenue | |||
(Iowa Fertilizer Company Project) 5.00% 12/1/50 | 10,625,000 | $ 10,485,387 | |
Louisiana Public Facilities Authority | |||
Louisiana Public Facilities Authority Solid Waste Disposal Facility Revenue Series B 10.50% 7/1/39 ‡ | 12,201,587 | 122 | |
Louisiana Public Facilities Authority Revenue | |||
(Louisiana Pellets Project) | |||
Series A 8.375% 7/1/39 (AMT) ‡ | 13,547,003 | 135 | |
Series LA 144A 7.75% 7/1/39 (AMT) #, ‡ | 1,976,705 | 20 | |
Lower Alabama Gas District Revenue | |||
(Gas Project Revenue Bonds) Series A 5.00% 9/1/46 | 10,910,000 | 11,340,945 | |
Main Street Natural Gas Project Revenue | |||
Series A 4.00% 5/15/39 | 5,500,000 | 5,128,420 | |
Maine Finance Authority Revenue | |||
(Go Lab Madison, LLC Project) 144A 8.00% 12/1/51 (AMT) # | 10,950,000 | 7,099,871 | |
Maricopa County, Arizona Industrial Development Authority Revenue | |||
(Commercial Metals Company Project) 144A 4.00% 10/15/47 (AMT) # | 8,020,000 | 6,741,452 | |
Miami-Dade County, Florida Industrial Development Authority Revenue | |||
(CFC-MB I, LLC Collins Park Housing Project) 144A 6.25% 1/1/59 # | 7,000,000 | 6,707,750 | |
Michigan Finance Authority Limited Obligation Revenue | |||
Series B-2 4.97% 6/1/65 ^ | 10,000,000 | 955,500 | |
Monroe, New York Tobacco Asset Securitization | |||
(4th Subordinate - Capital Appreciation - Asset-Backed) Series A 144A 7.939% 6/1/61 #, ^ | 487,500,000 | 22,615,125 | |
Nassau County Tobacco Settlement Revenue | |||
(Asset-Backed) Series A-3 5.125% 6/1/46 | 10,000,000 | 9,076,200 |
24 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Industrial Development Revenue/Pollution ControlRevenue Bonds (continued) | |||
Nevada State Department of Business & Industry Revenue | |||
(Fulcrum Sierra Biofuels, LLC Project - Green Bonds) 144A 6.25% 12/15/37 # | 2,500,000 | $ 1,000,000 | |
New Jersey Economic Development Authority Special Facility Revenue | |||
(Continental Airlines Project) | |||
5.25% 9/15/29 | 4,000,000 | 4,002,160 | |
Series B 5.625% 11/15/30 (AMT) | 1,270,000 | 1,277,722 | |
New Jersey Tobacco Settlement Financing | |||
Series B 5.00% 6/1/46 | 4,605,000 | 4,617,802 | |
New York City Industrial Development Agency Revenue | |||
(Yankee Stadium Project) Series A 3.00% 3/1/49 | 1,000,000 | 714,330 | |
New York City, New York Industrial Development Agency | |||
(Queens Baseball Stadium Project) Series A 2.00% 1/1/38 (AGM) | 500,000 | 352,690 | |
New York Counties Tobacco Trust | |||
New York Counties Tobacco Trust VI Series C 5.00% 6/1/51 | 1,000,000 | 912,410 | |
New York Counties Tobacco Trust Revenue | |||
(Pass Through Program) Series F 0.15% 6/1/60 ^ | 55,000,000 | 3,441,900 | |
New York Counties Tobacco Trust V Revenue | |||
Series 4B 144A 0.269% 6/1/60 #, ^ | 322,800,000 | 13,502,724 | |
New York Transportation Development Special Facilities Revenue | |||
(American Airlines Inc. John F. Kennedy International Airport Project) 5.375% 8/1/36 (AMT) | 1,000,000 | 1,004,640 | |
(Terminal 4 John F. Kennedy International Airport Project) 5.00% 12/1/38 (AMT) | 2,455,000 | 2,560,811 | |
Pennsylvania Economic Development Financing Authority Revenue | |||
(National Gypsum) 5.50% 11/1/44 (AMT) | 4,500,000 | 4,504,050 |
NQ- VQ [1123] 0124 (3318286) 25
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Industrial Development Revenue/Pollution ControlRevenue Bonds (continued) | |||
Port Beaumont, Texas Navigation District Dock & Wharf Facility Revenue | |||
(Jefferson Gulf Coast Energy Project) Series A 144A 2.875% 1/1/41 (AMT) # | 1,750,000 | $ 1,124,340 | |
Port of Seattle, Washington Industrial Development Special Facilities Revenue | |||
(Delta Airlines) 5.00% 4/1/30 (AMT) | 2,000,000 | 2,000,040 | |
Public Authority for Colorado Energy Natural Gas Revenue | |||
Series 28 6.50% 11/15/38 | 11,000,000 | 13,248,840 | |
Salt Verde, Arizona Financial Senior Gas Revenue | |||
5.00% 12/1/37 | 9,250,000 | 9,821,187 | |
5.25% 12/1/27 | 2,235,000 | 2,334,234 | |
5.25% 12/1/28 | 1,050,000 | 1,104,422 | |
5.50% 12/1/29 | 765,000 | 819,590 | |
San Diego, California Tobacco Settlement Revenue Funding | |||
Series C 4.00% 6/1/32 | 460,000 | 453,804 | |
Sanger Industrial Development Revenue | |||
(Texas Pellets Project) Series B 8.00% 7/1/38 (AMT) ‡ | 17,870,000 | 4,199,450 | |
Shoals, Indiana Exempt Facilities Revenue | |||
(National Gypsum Project) 7.25% 11/1/43 (AMT) | 1,860,000 | 1,862,418 | |
St. James Parish, Louisiana | |||
(NuStar Logistics, LP Project) | |||
144A 6.10% 6/1/38 #, • | 1,000,000 | 1,083,330 | |
Series B 144A 6.10% 12/1/40 #, • | 1,630,000 | 1,765,861 | |
Tennessee State Energy Acquisition Gas Revenue | |||
Series C 5.00% 2/1/27 | 2,940,000 | 2,966,783 | |
The City Of Hoover (Alabama) Environmental Improvement Revenue Bonds | |||
(United States Steel Corporation Project) 5.75% 10/1/49 (AMT) | 10,250,000 | 10,221,607 | |
Tobacco Securitization Authority of Southern California Revenue | |||
(Capital Appreciation-2nd Subordinate Lien) Series C 1.574% 6/1/46 ^ | 3,515,000 | 636,812 | |
(Capital Appreciation-3rd Subordinate Lien) Series D 3.916% 6/1/46 ^ | 8,770,000 | 1,321,464 |
26 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Industrial Development Revenue/Pollution ControlRevenue Bonds (continued) | |||
Tobacco Securitization Authority of Southern California Revenue | |||
(San Diego County Tobacco Asset Securitization Corporation) Series B-1 5.00% 6/1/48 | 810,000 | $ 822,555 | |
Tulsa, Oklahoma Municipal Airports Improvement Trust Revenue | |||
Series A 5.50% 6/1/35 (AMT) | 2,000,000 | 2,000,340 | |
Tuscaloosa County, Alabama Industrial Development Authority Revenue | |||
(Hunt Refining Project) Series A 144A 5.25% 5/1/44 # | 9,440,000 | 8,591,816 | |
Valparaiso, Indiana | |||
(Pratt Paper LLC Project) 7.00% 1/1/44 (AMT) | 3,305,000 | 3,309,032 | |
Vermont Economic Development Authority | |||
Vermont Economic Development Authority Solid Waste Disposal Revenue 144A 4.625% 4/1/36 #, • | 1,000,000 | 981,680 | |
Virginia Tobacco Settlement Financing Revenue | |||
(Capital Appreciation) | |||
Series A-1 6.706% 6/1/46 | 10,865,000 | 9,307,394 | |
Series B-1 5.00% 6/1/47 | 2,000,000 | 1,844,220 | |
Series C 2.949% 6/1/47 ^ | 95,170,000 | 24,728,021 | |
Series D 2.20% 6/1/47 ^ | 179,085,000 | 45,482,217 | |
Washington Economic Development Finance Authority Revenue | |||
(Columbia Pulp I, LLC Project) Series 2017A 144A 7.50% 1/1/32 (AMT) #, ‡ | 4,800,000 | 480 | |
Wisconsin Public Finance Authority Revenue | |||
(Grand Hyatt San Antonio Hotel Acquisition Project) Series A 5.00% 2/1/62 | 13,255,000 | 12,927,204 | |
650,051,489 | |||
Lease Revenue Bonds — 2.97% | |||
Baltimore, Maryland Special Obligation Subordinate Revenue | |||
(Harbor Point Project) 5.00% 6/1/51 | 1,000,000 | 954,040 |
NQ- VQ [1123] 0124 (3318286) 27
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Lease Revenue Bonds (continued) | |||
California Statewide Communities Development Authority Revenue | |||
(Lancer Plaza Project) | |||
5.625% 11/1/33 | 1,400,000 | $ 1,400,966 | |
5.875% 11/1/43 | 3,765,000 | 3,765,753 | |
Idaho Falls City, Annual Appropriation Certificates of Participation Revenue | |||
144A 5.25% 5/15/51 # | 5,000,000 | 4,676,350 | |
Los Angeles County, California Public Works Financing Authority Revenue | |||
Series A 3.00% 12/1/50 | 11,000,000 | 8,290,920 | |
Metropolitan Pier & Exposition Authority, Illinois | |||
(McCormick Place Expansion Project) | |||
Series A 5.00% 6/15/50 | 4,135,000 | 4,189,003 | |
Series B 4.952% 12/15/54 (BAM) ^ | 3,535,000 | 792,229 | |
Metropolitan Pier & Exposition Authority, Illinois Revenue | |||
(McCormick Place Expansion Project) | |||
5.92% 12/15/56 ^ | 6,110,000 | 1,184,790 | |
Series A 4.00% 6/15/52 | 8,305,000 | 7,466,610 | |
Series B 5.03% 12/15/54 ^ | 3,710,000 | 799,357 | |
New Jersey Transportation Trust Fund Authority Revenue | |||
5.50% 6/15/50 | 4,250,000 | 4,616,223 | |
Series AA 4.00% 6/15/50 | 2,945,000 | 2,735,463 | |
(Transportation Program) Series AA 5.00% 6/15/25 | 1,000,000 | 1,025,890 | |
(Transportation System) | |||
Series A 4.991% 12/15/39 ^ | 5,290,000 | 2,593,528 | |
Series BB 4.00% 6/15/46 | 1,000,000 | 940,380 | |
New York Liberty Development Revenue | |||
(4 World Trade Center Project) Series A 3.00% 11/15/51 | 5,750,000 | 4,122,923 | |
(Class 1 - 3 World Trade Center Project) 144A 5.00% 11/15/44 # | 14,500,000 | 14,132,135 | |
(Class 3 - 3 World Trade Center Project) 144A 7.25% 11/15/44 # | 7,250,000 | 7,295,457 | |
Phoenix, Arizona Industrial Development Authority Lease Revenue | |||
5.125% 2/1/34 | 1,000,000 | 953,000 | |
5.375% 2/1/41 | 1,300,000 | 1,182,337 |
28 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Lease Revenue Bonds (continued) | |||
St Louis Municipal Finance | |||
St Louis Municipal Finance Series A 6.44% 7/15/37 ^ | 4,000,000 | $ 2,191,480 | |
St. Louis Municipal Finance Revenue | |||
(Convention Center Capital Improvement Project) Series A 6.43% 7/15/36 ^ | 2,250,000 | 1,312,290 | |
University of Missouri Industrial Development Authority Revenue | |||
(Markets At Olive Project) Series A 5.50% 6/15/42 | 3,000,000 | 2,969,010 | |
79,590,134 | |||
Local General Obligation Bonds — 2.70% | |||
Chicago City, Illinois | |||
Series C 5.00% 1/1/26 | 500,000 | 511,090 | |
Chicago City, Illinois Board of Education | |||
(Dedicated Revenues) Series B 4.00% 12/1/40 | 4,500,000 | 3,939,930 | |
Chicago, Illinois | |||
Series 2005D 5.50% 1/1/37 | 2,280,000 | 2,290,739 | |
Series 2007E 5.50% 1/1/42 | 1,900,000 | 1,907,068 | |
Series A 5.50% 1/1/39 | 2,660,000 | 2,835,374 | |
Series A 5.50% 1/1/40 | 2,160,000 | 2,293,639 | |
Series A 5.50% 1/1/49 | 770,000 | 787,987 | |
Chicago, Illinois Board of Education | |||
Series A 144A 7.00% 12/1/46 # | 2,500,000 | 2,648,550 | |
Series B 4.00% 12/1/41 | 2,000,000 | 1,738,840 | |
Series G 5.00% 12/1/44 | 2,545,000 | 2,435,412 | |
Series H 5.00% 12/1/46 | 4,225,000 | 3,994,864 | |
(Dedicated Revenues) | |||
Series A 5.00% 12/1/42 | 7,690,000 | 7,357,562 | |
Series A 6.00% 12/1/49 | 9,500,000 | 10,040,835 | |
Fairfield, Alabama General Obligation Warrants | |||
6.00% 6/1/37 | 8,485,000 | 7,636,500 | |
Lodi Unified School District | |||
Series 2020 3.00% 8/1/43 | 2,750,000 | 2,205,060 | |
MIDA Golf and Equestrian Center Public Infrastructure District | |||
144A 4.50% 6/1/51 # | 7,500,000 | 5,265,075 | |
144A 4.625% 6/1/57 # | 7,000,000 | 4,853,590 |
NQ- VQ [1123] 0124 (3318286) 29
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Local General Obligation Bonds (continued) | |||
San Diego, California Unified School District | |||
(Dedicated Unlimited Ad Valorem Property Tax Bonds) Series 3 4.00% 7/1/53 | 2,000,000 | $ 1,964,800 | |
Verve, Colorado Metropolitan District No. 1 | |||
5.00% 12/1/51 | 1,000,000 | 753,950 | |
Village of Riverdale, Illinois | |||
8.00% 10/1/36 | 6,925,000 | 6,939,681 | |
72,400,546 | |||
Pre-Refunded/Escrowed to Maturity Bonds — 1.50% | |||
Blythe Township, Pennsylvania Solid Waste Authority Revenue | |||
7.75% 12/1/37-27 (AMT) § | 2,800,000 | 3,173,072 | |
California School Finance Authority Revenue | |||
(Aspire Public School) 144A 5.00% 8/1/41-25 #, § | 125,000 | 129,103 | |
Central Texas Regional Mobility Authority Senior Lien Revenue | |||
Series A 5.00% 1/1/45-25 § | 4,000,000 | 4,121,000 | |
Golden State, California Tobacco Securitization Corporate Settlement Revenue | |||
(Asset-Backed Enhanced) Series A 5.00% 6/1/35-25 § | 6,265,000 | 6,457,586 | |
Henderson, Nevada Public Improvement Trust | |||
(Touro College & University System) Series A 5.50% 1/1/39-24 § | 560,000 | 566,955 | |
Hospital Facilities Authority of Multnomah County, Oregon | |||
(Mirabella at South Waterfront) Series A 5.50% 10/1/49-24 § | 2,400,000 | 2,439,144 | |
Nampa, Idaho Development Revenue | |||
(Library Square Project) 144A 5.00% 9/1/31-24 #, § | 2,940,000 | 3,040,636 | |
New Jersey Economic Development Authority Special Facility Revenue | |||
Series WW 5.25% 6/15/30-25 § | 5,000,000 | 5,171,600 | |
North Texas Tollway Authority | |||
North Texas Tollway Authority Revenue Special Project System Revenue Series C 7.00% 9/1/43-31 § | 5,000,000 | 6,220,350 |
30 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Pre-Refunded/Escrowed to Maturity Bonds (continued) | |||
Osceola County, Florida Expressway System Senior Lien | |||
(Poinciana Parkway Project) Series A 5.375% 10/1/47-24 § | 2,000,000 | $ 2,033,060 | |
Washington State Housing Finance Commission Revenue | |||
(Heron's Key) | |||
Series A 144A 7.00% 7/1/45-25 #, § | 1,000,000 | 1,048,010 | |
Series A 144A 7.00% 7/1/50-25 #, § | 3,625,000 | 3,799,036 | |
Wisconsin Public Finance Authority Revenue | |||
(Rose Villa Project) Series A 144A 5.75% 11/15/44-24 #, § | 2,000,000 | 2,037,500 | |
40,237,052 | |||
Resource Recovery Revenue Bonds — 0.34% | |||
Brazoria County, Texas Industrial Development Solid Waste Disposal Facilities Revenue | |||
(Aleon Renewable Metals, LLC Project) 144A 10.00% 6/1/42 (AMT) #, • | 3,000,000 | 2,890,380 | |
South Carolina Jobs-Economic Development Authority Educational Facilities Revenue | |||
(Last Step Recycling Project) Series A 144A 6.50% 6/1/51 (AMT) # | 1,500,000 | 1,106,175 | |
Union County, New Jersey Improvement Authority Revenue | |||
(Aries Linden, LLC Project) 144A 6.75% 12/1/41 (AMT) # | 7,990,000 | 5,109,685 | |
9,106,240 | |||
Special Tax Revenue Bonds — 15.49% | |||
Branson, Missouri Industrial Development Authority Tax Increment Revenue | |||
(Branson Shoppes Redevelopment Project) Series A 3.90% 11/1/29 | 430,000 | 397,238 | |
Celebration Pointe, Florida Community Development District No. 1 | |||
5.125% 5/1/45 | 2,460,000 | 2,371,588 | |
Cherry Hill, Virginia Community Development Authority Revenue | |||
(Potomac Shores Project) | |||
144A 5.15% 3/1/35 # | 1,000,000 | 1,006,610 | |
144A 5.40% 3/1/45 # | 2,000,000 | 2,003,380 | |
City of Newport Beach, California | |||
Series A 4.00% 9/2/33 | 200,000 | 204,384 |
NQ- VQ [1123] 0124 (3318286) 31
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Special Tax Revenue Bonds (continued) | |||
City of Newport Beach, California | |||
Series A 4.125% 9/2/38 | 575,000 | $ 568,152 | |
City of Tampa, Florida Capital Improvement Cigarette Tax Allocation Revenue | |||
(H. Lee Moffitt Cancer Center Project) Series A 4.55% 9/1/53 ^ | 12,095,000 | 2,222,335 | |
Commonwealth of Puerto Rico Revenue | |||
3.799% 11/1/51 • | 13,447,774 | 5,412,729 | |
(Restructured) 3.373% 11/1/43 • | 80,157,954 | 41,782,334 | |
Conley Road Transportation Development District, Missouri | |||
5.375% 5/1/47 | 6,655,000 | 6,659,991 | |
County of Monongalia, West Virginia | |||
(Development District No. 4 – University Town Centre) | |||
Series A 144A 5.00% 6/1/33 # | 1,000,000 | 1,017,600 | |
Series A 144A 5.75% 6/1/43 # | 1,500,000 | 1,562,430 | |
Series A 144A 6.00% 6/1/53 # | 1,500,000 | 1,581,750 | |
East Dundee, Illinois Limited Obligation Tax Increment Revenue | |||
(Route 25 South Redevelopment Project) 5.625% 12/1/31 | 1,505,000 | 1,427,131 | |
Fountain Urban Renewal Authority, Colorado | |||
(Improvement - South Academy Highland) Series A 5.50% 11/1/44 | 3,750,000 | 3,545,100 | |
GDB Debt Recovery Authority of Puerto Rico | |||
7.50% 8/20/40 | 85,200,715 | 74,976,629 | |
Glen Cove, New York Local Economic Assistance Revenue | |||
(Garvies Point Public Improvement Project) Series A 5.00% 1/1/56 | 2,000,000 | 1,742,060 | |
Grandview Industrial Development Authority Revenue | |||
(Grandview Crossing Project) 5.75% 12/1/28 ‡ | 1,000,000 | 380,000 | |
Guam Government Business Privilege Tax Revenue | |||
Series F 4.00% 1/1/42 | 2,500,000 | 2,273,625 | |
Henderson, Nevada Local Improvement Districts | |||
(Black Mountain Ranch) | |||
3.00% 9/1/36 | 300,000 | 229,527 | |
3.50% 9/1/45 | 720,000 | 519,991 | |
4.00% 9/1/51 | 500,000 | 386,810 |
32 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Special Tax Revenue Bonds (continued) | |||
Hickory Chase Community Authority Revenue, Ohio | |||
(Hickory Chase Project) Senior Series A 144A 5.00% 12/1/40 # | 1,355,000 | $ 1,207,332 | |
Indianapolis, Indiana Local Public Improvement Bond Bank Revenue | |||
Series E 6.00% 3/1/53 | 3,000,000 | 3,102,750 | |
Series E 6.125% 3/1/57 | 3,250,000 | 3,373,727 | |
Juban Crossing Economic Development District, Louisiana | |||
(General Infrastructure Projects) Series C 144A 7.00% 9/15/44 # | 2,910,000 | 2,896,934 | |
(Road Projects) Series A 144A 7.00% 9/15/44 # | 1,745,000 | 1,737,095 | |
Kansas City | |||
Kansas City Tax Increment Financing Commission Tax Increment Revenue Series A 8.00% 4/1/33 ‡ | 3,950,000 | 750,500 | |
Lakeside 370 Levee District - Subdistrict B Revenue | |||
Series 2015-B 0.00% 4/1/55 | 853,802 | 768,422 | |
Las Vegas, Nevada | |||
(Villages At Tule Springs Village 1) | |||
144A 5.50% 6/1/37 # | 750,000 | 751,508 | |
144A 5.75% 6/1/42 # | 1,100,000 | 1,099,923 | |
144A 5.75% 6/1/47 # | 1,575,000 | 1,547,122 | |
144A 6.00% 6/1/52 # | 1,800,000 | 1,805,904 | |
Las Vegas, Nevada Special Improvement District No 817 Local Improvement | |||
(Summerlin Village 29) | |||
5.50% 6/1/38 | 375,000 | 381,653 | |
5.75% 6/1/43 | 500,000 | 509,140 | |
6.00% 6/1/53 | 1,000,000 | 1,019,540 | |
Lees Summit Industrial Development Authority Revenue | |||
(Kensington Farms Improvement Project) 5.75% 3/1/29 ‡ | 2,185,000 | 1,267,300 | |
Marquis Community Development Authority of York County Virginia Revenue | |||
Series B 5.625% 9/1/41 ‡ | 2,779,000 | 972,650 | |
(Capital Appreciation Bonds) Series C 0.00% 9/1/41 ^ | 821,000 | 2,053 | |
(Convertible Capital Appreciation Bonds) 144A 7.50% 9/1/45 #, ‡ | 859,000 | 300,650 |
NQ- VQ [1123] 0124 (3318286) 33
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Special Tax Revenue Bonds (continued) | |||
Matching Fund Special Purpose Securitization | |||
Series A 5.00% 10/1/39 | 8,945,000 | $ 8,809,752 | |
Midtown Miami, Florida Community Development District | |||
(Parking Garage Project) Series A 5.00% 5/1/37 | 500,000 | 483,835 | |
Mobile, Alabama Improvement District | |||
(McGowin Park Project) | |||
Series A 5.25% 8/1/30 | 1,000,000 | 956,880 | |
Series A 5.50% 8/1/35 | 1,300,000 | 1,213,875 | |
New York City, New York Transitional Finance Authority Future Tax Secured Revenue | |||
Fiscal 2020 Subordinate Series A-3 3.00% 5/1/45 | 5,000,000 | 3,933,550 | |
Series B-1 3.00% 8/1/48 | 6,605,000 | 5,024,291 | |
New York State Thruway Authority Revenue | |||
Series A-1 3.00% 3/15/49 | 5,000,000 | 3,725,600 | |
Series A-1 3.00% 3/15/50 | 3,640,000 | 2,692,435 | |
Series A-1 4.00% 3/15/55 | 2,000,000 | 1,931,180 | |
Series A-1 4.00% 3/15/56 | 2,380,000 | 2,292,797 | |
New York State Urban Development | |||
Series E 3.00% 3/15/50 | 2,500,000 | 1,856,000 | |
(General Purpose) Series A 3.00% 3/15/50 | 3,310,000 | 2,457,344 | |
Northampton County, Pennsylvania Industrial Development Authority Revenue | |||
(Route 33 Project) 7.00% 7/1/32 | 1,755,000 | 1,757,562 | |
Orange County, California Community Facilities District No. 2023-1 | |||
(Rienda Phase 2B) | |||
Series A 5.50% 8/15/48 | 1,500,000 | 1,533,870 | |
Series A 5.50% 8/15/53 | 1,200,000 | 1,226,268 | |
Prairie Center Metropolitan District No. 3, Colorado | |||
Series A 144A 5.00% 12/15/41 # | 2,000,000 | 1,950,540 | |
Puerto Rico Sales Tax Financing Revenue | |||
(Restructured) | |||
Series A-1 4.75% 7/1/53 | 47,908,000 | 45,338,694 | |
Series A-1 4.764% 7/1/51 ^ | 143,746,000 | 31,273,380 | |
Series A-1 5.00% 7/1/58 | 18,685,000 | 18,163,128 | |
Series A-1 5.253% 7/1/46 ^ | 104,102,000 | 30,719,459 | |
Series A-2 4.536% 7/1/53 | 1,022,000 | 933,985 | |
Series A-2 4.784% 7/1/58 | 18,694,000 | 17,610,870 |
34 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Special Tax Revenue Bonds (continued) | |||
Puerto Rico Sales Tax Financing Revenue | |||
(Restructured) | |||
Series B-1 4.75% 7/1/53 | 5,619,000 | $ 5,310,292 | |
Richmond Heights, Missouri Tax Increment & Transaction Sales Tax Revenue Improvement | |||
(Francis Place Redevelopment Project) 5.625% 11/1/25 | 540,000 | 530,944 | |
San Buenaventura Redevelopment Agency Revenue | |||
(Merged San Buenaventura Redevelopment Project) | |||
7.75% 8/1/28 | 840,000 | 843,058 | |
8.00% 8/1/38 | 1,500,000 | 1,505,550 | |
St. Louis County, Missouri Industrial Development Authority Revenue | |||
(Manchester Ballas Community) | |||
Series A 144A 5.00% 9/1/38 # | 1,050,000 | 966,430 | |
Series A 144A 5.25% 9/1/45 # | 3,540,000 | 3,168,194 | |
Stone Canyon Community Improvement District Revenue | |||
(Public Infrastructure Improvement Project) 5.75% 4/1/27 ‡ | 1,250,000 | 112,500 | |
Triborough Bridge & Tunnel Authority Payroll Mobility Tax Senior lien | |||
(MTA Bridges And Tunnels) Series 3 3.00% 5/15/51 | 6,000,000 | 4,399,140 | |
Verve, Colorado Metropolitan District No. 1 | |||
6.50% 12/1/43 | 4,365,000 | 4,043,736 | |
6.75% 12/1/52 | 4,000,000 | 3,713,680 | |
Village Community Development District No. 15, Florida | |||
144A 5.00% 5/1/43 # | 1,000,000 | 994,660 | |
144A 5.25% 5/1/54 # | 3,500,000 | 3,489,255 | |
Whiting Redevelopment District Revenue | |||
4.00% 1/15/32 | 2,600,000 | 2,448,082 | |
Wisconsin Public Finance Authority Revenue | |||
(American Dream @ Meadowlands Project) 144A 7.00% 12/1/50 # | 5,065,000 | 4,647,847 | |
(Mclemore Hotel & Conference Center) | |||
Series A 144A 4.50% 6/1/56 # | 13,000,000 | 9,585,550 | |
Series B 144A 6.50% 6/1/56 # | 1,000,000 | 804,300 |
NQ- VQ [1123] 0124 (3318286) 35
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Special Tax Revenue Bonds (continued) | |||
Wyandotte County, Kansas City, Kansas Unified Government Special Obligation Revenue | |||
(Wyandotte Plaza Redevelopment Project) 5.00% 12/1/34 | 3,000,000 | $ 2,825,520 | |
Wyandotte County, Kansas Unified Government Special Obligation Revenue | |||
(Sales Tax Vacation Village Project) Series A 6.00% 9/1/35 | 4,690,000 | 4,224,283 | |
415,263,913 | |||
State General Obligation Bonds — 5.20% | |||
California State | |||
(Forward Delivery) 4.00% 9/1/29 | 3,950,000 | 4,203,432 | |
Commonwealth of Massachusetts | |||
Series C 2.75% 3/1/50 | 5,000,000 | 3,524,050 | |
Series D 4.00% 11/1/35 | 5,000,000 | 5,259,400 | |
Commonwealth of Puerto Rico | |||
(Restructured) | |||
Series A-1 4.00% 7/1/37 | 10,759,631 | 9,639,231 | |
Series A-1 4.00% 7/1/41 | 35,742,237 | 30,950,275 | |
Series A-1 4.00% 7/1/46 | 62,264,861 | 51,894,648 | |
Illinois State | |||
5.00% 1/1/28 | 1,190,000 | 1,215,121 | |
5.50% 5/1/39 | 6,000,000 | 6,559,260 | |
Series A 5.125% 12/1/29 | 1,310,000 | 1,384,264 | |
Series A 5.50% 3/1/47 | 9,700,000 | 10,398,109 | |
Series B 3.00% 12/1/41 | 2,605,000 | 2,092,466 | |
Series C 4.00% 10/1/41 | 400,000 | 380,984 | |
Series C 4.00% 10/1/42 | 2,900,000 | 2,735,686 | |
Series C 5.00% 11/1/29 | 4,600,000 | 4,835,106 | |
(Rebuild Illinois Program) Series B 4.00% 11/1/35 | 2,000,000 | 2,008,280 | |
New Jersey State | |||
Series A 4.00% 6/1/32 | 2,080,000 | 2,223,832 | |
139,304,144 | |||
Transportation Revenue Bonds — 7.28% | |||
Allegheny County Airport Authority Revenue | |||
(Pittsburgh International Airport) | |||
Series A 5.50% 1/1/48 | 5,000,000 | 5,411,850 | |
Series A 5.50% 1/1/53 | 6,770,000 | 7,286,145 |
36 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Transportation Revenue Bonds (continued) | |||
California Municipal Finance Authority Senior Lien Revenue | |||
(LINXS APM Project) | |||
Series A 4.00% 12/31/47 (AMT) | 10,150,000 | $ 8,928,853 | |
Series A 5.00% 12/31/43 (AMT) | 1,500,000 | 1,514,265 | |
Central Texas Regional Mobility Authority Senior Lien Revenue | |||
0.000% 1/1/36 ^ | 2,500,000 | 1,539,100 | |
0.000% 1/1/40 ^ | 2,000,000 | 944,080 | |
Colorado High Performance Transportation Enterprise Revenue | |||
(U.S. 36 & I-25 Managed Lanes) 5.75% 1/1/44 (AMT) | 3,250,000 | 3,254,193 | |
Denver City & County, Colorado Airport System Revenue | |||
Series A 4.00% 12/1/48 (AMT) | 5,000,000 | 4,536,900 | |
Florida Development Finance Revenue | |||
(Brightline Florida Passenger Rail Expansion Project) Series C 144A 8.00% 7/1/57 #, • | 12,500,000 | 12,629,500 | |
Foothill-Eastern, California Transportation Corridor Agency Revenue | |||
Series B-1 3.95% 1/15/53 (AGM) | 2,800,000 | 2,569,084 | |
Series B-2 3.50% 1/15/53 | 1,600,000 | 1,339,824 | |
Series B-2 3.50% 1/15/53 (AGM) | 2,000,000 | 1,733,180 | |
(Senior Lien) Series A 4.00% 1/15/46 | 3,560,000 | 3,420,982 | |
Grand Parkway Transportation Revenue | |||
(First Tier) 3.00% 10/1/50 | 3,500,000 | 2,526,475 | |
Los Angeles, California Department of Airports Revenue | |||
(Los Angeles International Airport) Series F 3.00% 5/15/49 (AMT) | 3,030,000 | 2,196,780 | |
Metropolitan Nashville Airport Authority Revenue | |||
Series B 5.50% 7/1/52 (AMT) | 1,500,000 | 1,599,555 | |
Metropolitan Transportation Authority, New York | |||
Subordinate Series C-1 5.25% 11/15/55 | 5,000,000 | 5,170,500 | |
Metropolitan Washington Airports Authority Dulles Toll Road Revenue | |||
(Convertible Capital Appreciation Bonds) Series B 6.50% 10/1/44 ~ | 1,000,000 | 1,095,510 |
NQ- VQ [1123] 0124 (3318286) 37
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Transportation Revenue Bonds (continued) | |||
New York Metropolitan Transportation Authority Revenue | |||
(Climate Bond Certified - Green Bonds) Series B 4.00% 11/15/50 | 5,000,000 | $ 4,519,450 | |
New York State Thruway Authority Revenue | |||
Series B 3.00% 1/1/53 (BAM) | 3,410,000 | 2,371,689 | |
New York Transportation Development Special Facilities Revenue | |||
(Delta Airlines Inc. LaGuardia Airport Terminals C & D Redevelopment Project) | |||
4.375% 10/1/45 (AMT) | 16,840,000 | 15,201,468 | |
5.00% 10/1/40 (AMT) | 3,400,000 | 3,386,162 | |
(John F. Kennedy International Airport New Terminal One Project) | |||
5.125% 6/30/60 (AGM) (AMT) | 5,500,000 | 5,539,227 | |
5.375% 6/30/60 (AMT) | 10,000,000 | 10,008,819 | |
6.00% 6/30/54 | 5,000,000 | 5,314,824 | |
(Terminal 4 John F. Kennedy International Airport Project) 5.00% 12/1/41 (AMT) | 4,920,000 | 5,074,144 | |
North Carolina Turnpike Authority | |||
North Carolina Turnpike Authority Triangle Expressway System Revenue | |||
4.00% 1/1/55 | 1,000,000 | 932,850 | |
Series C 0.000% 7/1/41 ^ | 4,160,000 | 1,725,277 | |
Pennsylvania Turnpike Commission Revenue | |||
Series C 3.00% 12/1/51 | 1,700,000 | 1,207,374 | |
Subordinate Series B 3.00% 12/1/51 | 2,500,000 | 1,765,750 | |
Phoenix Civic Improvement | |||
Series B 3.25% 7/1/49 | 1,555,000 | 1,160,854 | |
Phoenix, Arizona Civic Improvement | |||
(Junior Lien) Series A 5.00% 7/1/40 | 30,000 | 30,290 | |
Port of Seattle, Washington Intermediate Lien Revenue | |||
(Private Activity) Series B 4.00% 8/1/47 (AMT) | 2,250,000 | 2,090,273 | |
Puerto Rico Highway & Transportation Authority Revenue | |||
(Restructured) Series C 5.00% 7/1/53 ~ | 35,455,000 | 22,956,758 |
38 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Transportation Revenue Bonds (continued) | |||
San Diego County, California Regional Airport Authority Revenue | |||
Series B 4.00% 7/1/56 (AMT) | 3,000,000 | $ 2,675,160 | |
San Francisco City & County, California Airports Commission Revenue | |||
Series A 4.00% 5/1/49 (AMT) | 5,000,000 | 4,606,850 | |
South Jersey Port, New Jersey | |||
(Subordinated Marine Terminal Revenue) Series B 5.00% 1/1/48 (AMT) | 2,000,000 | 2,013,720 | |
Texas Private Activity Bond Surface Transportation Revenue | |||
(NTE Mobility Partners LLC North Tarrant Express Project) 5.50% 12/31/58 (AMT) | 9,765,000 | 10,330,979 | |
(NTE Mobility Partners Segments 3 LLC Segment 3C Project) 5.00% 6/30/58 (AMT) | 20,780,000 | 20,854,185 | |
Virginia Small Business Financing Authority Revenue | |||
(Transform 66-33 Project) 5.00% 12/31/52 (AMT) | 3,840,000 | 3,853,517 | |
195,316,396 | |||
Water & Sewer Revenue Bonds — 1.16% | |||
Chicago, Illinois Waterworks Revenue | |||
(Second Lien) | |||
5.00% 11/1/26 | 180,000 | 188,975 | |
5.00% 11/1/28 | 30,000 | 31,243 | |
Irvine, California Facilities Financing Authority Revenue | |||
(Irvine Great Park Infrastructure Project) Series A 4.00% 9/1/58 (BAM) | 3,000,000 | 2,950,950 | |
Jefferson County, Alabama Sewer Revenue | |||
(Senior Lien-Warrants) Series A 5.50% 10/1/53 (AGM) | 2,500,000 | 2,538,850 | |
(Sub Lien-Warrants) Series D 7.00% 10/1/51 | 5,000,000 | 5,256,200 | |
King County, Washington Sewer Revenue | |||
Series A 4.00% 1/1/52 | 5,000,000 | 4,817,800 | |
New York City Municipal Water Finance Authority Revenue | |||
Series 1 3.50% 6/15/48 | 5,000,000 | 4,205,550 | |
Subseries AA-1 3.00% 6/15/51 | 5,800,000 | 4,265,784 |
NQ- VQ [1123] 0124 (3318286) 39
Schedule of investments
Delaware National High-Yield Municipal Bond Fund (Unaudited)
Principal amount° | Value (US $) | ||
Municipal Bonds (continued) | |||
Water & Sewer Revenue Bonds (continued) | |||
New York City Municipal Water Finance Authority Revenue | |||
Subseries BB-1 3.00% 6/15/44 | 8,750,000 | $ 6,918,887 | |
31,174,239 | |||
Total Municipal Bonds (cost $2,848,472,823) | 2,600,026,293 |
Principal amount | |||
Short-Term Investments — 1.56% | |||
Variable Rate Demand Notes — 1.56%¤ | |||
California Statewide Communities Development Authority Revenue | |||
(Rady Children's Hospital - San Diego) Series B 2.00% 8/15/47 (LOC - Wells Fargo Bank, N.A.)• | 3,150,000 | 3,150,000 | |
Los Angeles, California Department of Water & Power Revenue | |||
Subordinate Series B-3 2.50% 7/1/34 (SPA - Barclays Bank) | 18,000,000 | 18,000,000 | |
Los Angeles, California Department of Water & Power Water System Revenue | |||
Series A-2 2.75% 7/1/45 (SPA - Barclays Bank)• | 20,495,000 | 20,495,000 | |
Minneapolis, Minnesota Health Care System Revenue | |||
(Fairview Health Services) Series C 3.40% 11/15/48 (LOC – Wells Fargo Bank N.A.)• | 300,000 | 300,000 | |
Total Short-Term Investments (cost $41,945,000) | 41,945,000 | ||
Total Value of Securities—98.54% (cost $2,890,417,823) | 2,641,971,293 | ||
Receivables and Other Assets Net of Liabilities—1.46% | 39,152,873 | ||
Net Assets Applicable to 273,022,375 Shares Outstanding—100.00% | $2,681,124,166 |
° | 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 November 30, 2023, the aggregate value of Rule 144A securities was $655,669,152, which represents 24.46% of the Fund's net assets. |
40 NQ- VQ [1123] 0124 (3318286)
(Unaudited)
^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
‡ | Non-income producing security. Security is currently in default. |
• | 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. |
§ | 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. |
¤ | Tax-exempt obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid principal balance plus accrued interest upon a short notice period (generally up to 30 days) prior to specified dates either from the issuer or by drawing on a bank letter of credit, a guarantee, or insurance issued with respect to such instrument. Each rate shown is as of November 30, 2023. |
Summary of abbreviations: |
AGM – Insured by Assured Guaranty Municipal Corporation |
AMT – Subject to Alternative Minimum Tax |
BAM – Insured by Build America Mutual Assurance |
KIPP – Knowledge is Power Program |
LIBOR – London Interbank Offered Rate |
LLC – Limited Liability Corporation |
LOC – Letter of Credit |
N.A. – National Association |
PSF – Guaranteed by Permanent School Fund |
SOFR01M – Secured Overnight Financing Rate 1 Month |
SOFR03M – Secured Overnight Financing Rate 3 Month |
SPA – Stand-by Purchase Agreement |
USD – US Dollar |
NQ- VQ [1123] 0124 (3318286) 41