NPORT-EX 2 AFIE0DEL093021.htm
Schedule of investments
Delaware Tax–Free Oregon Fund September 30, 2021 (Unaudited)
    Principal
amount° 		Value (US $)
Municipal Bonds — 98.61%
Education Revenue Bonds — 8.36%
Oregon Health & Science University Revenue      
Series A 4.00% 7/1/44       600,000 $   691,404
Oregon State Facilities Authority Revenue      
(Metro East Web Academy Project)
Series A 144A 5.00% 6/15/49  # 		  1,000,000  1,078,100
(Willamette University Projects)
Series A 4.00% 10/1/51   		    500,000     562,895
University of Oregon General Revenue      
Series A 5.00% 4/1/45     1,000,000  1,131,000
   3,463,399
Electric Revenue Bonds — 2.75%
Puerto Rico Electric Power Authority Revenue      
Series A 6.75% 7/1/36  ‡     240,000     241,500
Series TT 5.00% 7/1/32  ‡     380,000     372,400
Series XX 5.25% 7/1/40  ‡     535,000    526,306
   1,140,206
Healthcare Revenue Bonds — 13.97%
Clackamas County Hospital Facility Authority      
(Rose Villa Project)
Series A 5.375% 11/15/55   		    500,000     552,615
Hospital Facilities Authority of Multnomah County, Oregon      
(Mirabella At South Waterfront Project)
Series A 5.40% 10/1/44   		    900,000     968,580
Oregon State Facilities Authority Revenue      
(Providence Health & Services)
Series C 5.00% 10/1/45   		  1,650,000  1,894,299
(Samaritan Health Services Project)
Series A 5.00% 10/1/40   		    750,000     924,262
Salem, Oregon Hospital Facility Authority Revenue      
(Multi Model - Salem Health Project)
Series A 4.00% 5/15/49   		    500,000     569,030
Yamhill County Oregon Hospital Authority Revenue      
(Friendsview)
Series A 5.00% 11/15/51   		    750,000    874,193
   5,782,979
Housing Revenue Bonds — 3.96%
Home Forward Multifamily Housing Revenue      
(Gretchen Kafoury Commons)
 5.00% 1/1/29   		    565,000     608,002
NQ-FIE [9/21] 11/21 (1918196)    1
Schedule of investments
Delaware Tax–Free Oregon Fund (Unaudited)
    Principal
amount° 		Value (US $)
Municipal Bonds (continued)
Housing Revenue Bonds (continued)
Oregon State Housing & Community Services Department Mortgage
Revenue 		     
(Single-Family Mortgage Program)
Series A 4.00% 7/1/50   		    935,000 $ 1,030,520
   1,638,522
Local General Obligation Bonds — 27.87%
Boardman, Oregon      
 2.125% 6/15/45 (BAM)      500,000     470,855
Central Oregon Community College      
 5.00% 6/15/30       500,000     501,150
Clackamas County School District No. 12 North Clackamas      
Series B 5.00% 6/15/37     1,500,000  1,810,335
Columbia County School District No. 502      
 5.00% 6/15/36       575,000     691,857
Linn County Community School District No. 9 Lebanon      
 5.50% 6/15/27 (NATL)    1,000,000  1,261,200
Marion County School District No. 103 Woodburn      
 5.00% 6/1/30       300,000     382,737
 5.00% 6/15/35       500,000     578,590
Newport, Oregon      
Series B 0.00% 6/1/29 (AGC) ^   1,225,000  1,104,326
Portland, Oregon Revenue      
(Portland Building Project)
Series B 5.00% 6/15/34   		  1,000,000  1,252,290
Redmond, Oregon      
Series B-1 5.00% 6/1/38     1,000,000  1,241,960
Salem-Keizer School District No. 24J      
 5.00% 6/15/33     1,000,000  1,251,940
Washington County Oregon School District No. 15 Forest Grove      
Series B 0.00% 6/15/23  ^   1,000,000    993,070
  11,540,310
Pre-Refunded Bonds — 15.69%
Eugene Oregon Electric Utility System Revenue      
 5.00% 8/1/38-22  §   2,000,000  2,080,440
Oregon Health & Science University Revenue      
Series E 5.00% 7/1/32-22  §   1,475,000  1,528,336
Tigard, Oregon Water Revenue      
 5.00% 8/1/31-22  §   1,695,000  1,763,173
2    NQ-FIE [9/21] 11/21 (1918196)
(Unaudited)
    Principal
amount° 		Value (US $)
Municipal Bonds (continued)
Pre-Refunded Bonds (continued)
Umatilla County Oregon School District No. 16R Pendleton      
Series A 5.00% 6/15/33-24  §   1,000,000 $ 1,127,020
   6,498,969
Special Tax Revenue Bonds — 12.88%
GDB Debt Recovery Authority of Puerto Rico (Taxable)      
 7.50% 8/20/40       668,384     629,116
Oregon State Department Administrative Services Lottery Revenue      
Series A 5.00% 4/1/35     1,000,000  1,147,110
Puerto Rico Commonwealth Infrastructure Financing Authority Special
Tax Revenue 		     
Series B 5.00% 7/1/16  ‡     240,000     110,700
Series B 5.00% 7/1/41  ‡   1,250,000     579,687
Puerto Rico Sales Tax Financing Revenue      
(Restructured)      
Series A-1 4.75% 7/1/53     1,770,000  1,984,931
Series A-1 4.903% 7/1/51  ^     420,000     100,359
Series A-2 4.329% 7/1/40       550,000     611,276
Virgin Islands Public Finance Authority Revenue      
(Virgin Islands Matching Fund Loan Note)      
Series A 4.00% 10/1/22        70,000      69,490
Series A 5.00% 10/1/29       100,000    100,234
   5,332,903
State General Obligation Bonds — 6.21%
Commonwealth of Puerto Rico      
(Public Improvement)      
Series A 5.00% 7/1/24  ‡      95,000      92,031
Series A 5.00% 7/1/41  ‡     140,000     122,850
Series A 5.25% 7/1/34  ‡     240,000     234,600
Series A 5.375% 7/1/33  ‡     140,000     135,100
Series A 8.00% 7/1/35  ‡     360,000     311,400
Series B 5.00% 7/1/35  ‡      65,000      63,050
Series B 5.75% 7/1/38  ‡     200,000     190,500
Series C 6.00% 7/1/39  ‡     180,000     173,250
Oregon State      
(Article XI-Q State Projects)
Series A 5.00% 5/1/44   		  1,000,000  1,247,560
   2,570,341
Transportation Revenue Bonds — 5.57%
Port Authority of Guam Revenue      
Series A 5.00% 7/1/48       375,000     435,330
NQ-FIE [9/21] 11/21 (1918196)    3
Schedule of investments
Delaware Tax–Free Oregon Fund (Unaudited)
    Principal
amount° 		Value (US $)
Municipal Bonds (continued)
Transportation Revenue Bonds (continued)
Port of Portland Oregon Airport Revenue      
 5.00% 7/1/42 (AMT)    1,100,000 $ 1,290,421
(Portland International Airport)
 5.00% 7/1/31   		    500,000    580,405
   2,306,156
Water & Sewer Revenue Bonds — 1.35%
Hermiston, Oregon Water & Sewer System Revenue      
 5.00% 11/1/34 (AGM)      500,000    560,745
     560,745
Total Municipal Bonds (cost $37,412,787) 40,834,530
Short-Term Investments — 0.36%
Variable Rate Demand Note — 0.36%¤
Oregon State Facilities Authority Revenue      
(PeaceHealth) Series B 0.07% 8/1/34
(LOC - TD Bank N.A.) 		    150,000    150,000
Total Short-Term Investments (cost $150,000)    150,000
Total Value of Securities—98.97%
(cost $37,562,787) 		    40,984,530
Receivables and Other Assets Net of Liabilities—1.03%        425,017
Net Assets Applicable to 3,024,209 Shares Outstanding—100.00%     $41,409,547
° 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 September 30, 2021, the aggregate value of Rule 144A securities was $1,078,100, which represents 2.60% of the Fund's net assets.
‡ Non-income producing security. Security is currently in default.
^ Zero-coupon security. The rate shown is the effective yield at the time of purchase.
§ 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 September 30, 2021.
4    NQ-FIE [9/21] 11/21 (1918196)
(Unaudited)
Summary of abbreviations:
AGC – Insured by Assured Guaranty Corporation
AGM – Insured by Assured Guaranty Municipal Corporation
AMT – Subject to Alternative Minimum Tax
BAM – Insured by Build America Mutual Assurance
LOC – Letter of Credit
N.A. – National Association
NATL – Insured by National Public Finance Guarantee Corporation
USD – US Dollar
NQ-FIE [9/21] 11/21 (1918196)    5