NPORT-EX 2 ADD1DEL103123.htm
Schedule of investments
Delaware Strategic Income Fund  October 31, 2023 (Unaudited)
    Principal
amount° 		Value (US $)
Agency Collateralized Mortgage Obligations — 9.92%
Fannie Mae REMICS Series 2014-34 MA 3.00% 2/25/44       45,990 $     42,819
Freddie Mac Structured Agency Credit Risk REMIC
Trust 		     
Series 2020-HQA2 M2 144A 8.535% (SOFR + 3.21%) 3/25/50 #, •    1,027,566    1,062,355
Series 2021-DNA1 M2 144A 7.121% (SOFR + 1.80%) 1/25/51 #, •    1,036,318    1,031,146
Series 2021-DNA3 M2 144A 7.421% (SOFR+ 2.10%) 10/25/33 #, •    1,350,000    1,352,290
Series 2021-DNA5 M2 144A 6.971% (SOFR + 1.65%) 1/25/34 #, •    1,963,978    1,964,427
Series 2021-HQA1 M2 144A 7.571% (SOFR + 2.25%) 8/25/33 #, •    4,533,826    4,481,415
Series 2021-HQA2 M2 144A 7.371% (SOFR + 2.05%) 12/25/33 #, •    4,500,000    4,437,939
Series 2022-DNA1 M2 144A 7.821% (SOFR + 2.50%) 1/25/42 #, •    3,000,000    2,932,500
Series 2022-DNA2 M2 144A 9.071% (SOFR + 3.75%) 2/25/42 #, •    3,000,000    3,041,250
GNMA Series 2015-151 KC 3.50% 4/20/34       15,534      14,631
Total Agency Collateralized Mortgage Obligations (cost $20,453,267)  20,360,772
Agency Commercial Mortgage-Backed Securities — 0.86%
FREMF Mortgage Trust      
Series 2017-K66 B 144A 4.039% 7/25/27 #, •      325,000      302,275
Series 2017-K71 B 144A 3.752% 11/25/50 #, •      325,000      297,016
Series 2018-K72 B 144A 3.994% 12/25/50 #, •      325,000      299,309
Series 2018-K86 C 144A 4.294% 11/25/51 #, •      970,000     871,973
Total Agency Commercial Mortgage-Backed Securities (cost $2,140,546)   1,770,573
Agency Mortgage-Backed Securities — 4.53%
Fannie Mae S.F. 30 yr      
4.50% 2/1/53       779,054      696,375
5.50% 10/1/52     2,396,357    2,283,381
5.50% 7/1/53       737,222      699,530
6.00% 12/1/52     1,195,047    1,168,248
6.50% 9/1/53       999,222      994,391
Freddie Mac S.F. 15 yr
5.00% 6/1/38 		     981,798      947,142
NQ- DD [1023] 1223 (3265778)    1
Schedule of investments
Delaware Strategic Income Fund   (Unaudited)
    Principal
amount° 		Value (US $)
Agency Mortgage-Backed Securities (continued)
Freddie Mac S.F. 20 yr
5.50% 6/1/43 		   1,001,943 $    964,346
Freddie Mac S.F. 30 yr
5.00% 6/1/53 		   1,666,594   1,538,128
Total Agency Mortgage-Backed Securities (cost $9,658,737)   9,291,541
Convertible Bond — 0.22%
Helix Energy Solutions Group 6.75% exercise price $6.97, maturity date 2/15/26       290,000     453,995
Total Convertible Bond (cost $236,390)     453,995
       
Corporate Bonds — 45.44%
Banking — 4.67%
Access Bank 144A 6.125% 9/21/26 #      600,000     502,200
Banco Mercantil del Norte 144A 8.375% 10/14/30 #, μ, ψ      500,000     456,470
Banco Santander Mexico 144A 7.525% 10/1/28 #, μ      350,000     350,194
Bank of New York Mellon 4.70% 9/20/25 μ, ψ       47,000      44,602
BBVA Bancomer      
144A 5.875% 9/13/34 #, μ      600,000     520,368
5.875% 9/13/34 μ      200,000     173,456
Citizens Bank 6.064% 10/24/25 μ      285,000     272,582
Deutsche Bank      
3.729% 1/14/32 μ      200,000     144,879
5.625% 5/19/31 μ EUR    200,000     206,212
6.72% 1/18/29 μ      150,000     147,285
7.146% 7/13/27 μ      300,000     299,866
Hana Bank 144A 3.50% 10/19/26 #, μ, ψ      200,000     177,237
Huntington National Bank 4.552% 5/17/28 μ    1,870,000   1,719,355
ICICI Bank 144A 4.00% 3/18/26 #    1,200,000   1,152,980
KeyBank 4.15% 8/8/25     1,855,000   1,725,753
KeyCorp 4.789% 6/1/33 μ       68,000      53,647
NBK SPC 144A 1.625% 9/15/27 #, μ      715,000     631,221
NBK Tier 1 144A 3.625% 8/24/26 #, μ, ψ      206,000     178,150
NBK Tier 1 Financing 2 144A 4.50% 8/27/25 #, μ, ψ      300,000     276,098
Popular 7.25% 3/13/28       255,000     253,099
SVB Financial Group      
4.00% 5/15/26 ‡, ψ      385,000       6,182
4.57% 4/29/33 μ, ‡      227,000     133,145
2    NQ- DD [1023] 1223 (3265778)
(Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Banking (continued)
Truist Financial 4.95% 9/1/25 μ, ψ      165,000 $    150,057
    9,575,038
Basic Industry — 2.40%
AngloGold Ashanti Holdings      
3.75% 10/1/30       350,000      275,812
6.50% 4/15/40       120,000      103,918
CSN Resources 144A 5.875% 4/8/32 #      535,000      423,591
Domtar 144A 6.75% 10/1/28 #      509,000      414,819
First Quantum Minerals      
144A 6.875% 10/15/27 #    1,505,000    1,284,120
144A 8.625% 6/1/31 #      865,000      731,229
Sasol Financing USA      
6.50% 9/27/28       440,000      389,851
144A 8.75% 5/3/29 #    1,375,000   1,307,515
    4,930,855
Brokerage — 1.03%
Jefferies Financial Group 6.50% 1/20/43       245,000      226,195
NFP      
144A 6.875% 8/15/28 #    1,957,000    1,673,734
144A 7.50% 10/1/30 #      235,000     222,806
    2,122,735
Capital Goods — 3.72%
Ardagh Metal Packaging Finance USA 2.00% 9/1/28  EUR    800,000      699,193
Canpack 144A 3.875% 11/15/29 #      170,000      133,674
Cemex 144A 9.125% 3/14/28 #, μ, ψ      940,000      964,802
CP Atlas Buyer 144A 7.00% 12/1/28 #      140,000      106,851
Embraer Netherlands Finance 144A 7.00% 7/28/30 #    1,135,000    1,109,338
GFL Environmental 144A 5.125% 12/15/26 #       76,000       72,200
Mauser Packaging Solutions Holding 144A 7.875% 8/15/26 #      460,000      431,305
SAN Miguel Industrias 144A 3.50% 8/2/28 #    1,755,000    1,435,607
Standard Industries      
144A 3.375% 1/15/31 #      159,000      120,506
144A 4.375% 7/15/30 #    1,705,000    1,394,661
144A 4.75% 1/15/28 #       38,000       34,050
Turkiye Sise ve Cam Fabrikalari 144A 6.95% 3/14/26 #    1,145,000    1,108,440
Wesco Aircraft Holdings 144A 8.50% 11/15/24 #, ‡      710,000      28,400
    7,639,027
NQ- DD [1023] 1223 (3265778)    3
Schedule of investments
Delaware Strategic Income Fund   (Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Communications — 6.76%
Advantage Sales & Marketing 144A 6.50% 11/15/28 #      881,000 $    719,284
Altice France 144A 5.50% 10/15/29 #      865,000      595,678
CCO Holdings      
144A 4.25% 2/1/31 #       41,000       31,938
144A 4.50% 8/15/30 #      530,000      425,678
Cellnex Finance 144A 3.875% 7/7/41 #      400,000      266,906
CMG Media 144A 8.875% 12/15/27 #      415,000      321,015
Consolidated Communications      
144A 5.00% 10/1/28 #      486,000      366,519
144A 6.50% 10/1/28 #    1,667,000    1,320,264
CSC Holdings      
144A 5.375% 2/1/28 #    1,838,000    1,465,392
144A 5.75% 1/15/30 #      248,000      130,138
Cumulus Media New Holdings 144A 6.75% 7/1/26 #      500,000      357,958
Digicel International Finance 144A 8.75% 5/25/24 #    1,132,000    1,039,179
Directv Financing 144A 5.875% 8/15/27 #      920,000      806,996
Discovery Communications 4.00% 9/15/55        10,000        5,748
DISH DBS 144A 5.75% 12/1/28 #      780,000      567,938
Frontier Communications Holdings      
144A 5.00% 5/1/28 #      203,000      175,443
144A 5.875% 10/15/27 #      836,000      762,861
5.875% 11/1/29       338,226      254,636
144A 6.00% 1/15/30 #      216,000      162,856
144A 6.75% 5/1/29 #      219,000      173,568
Gray Escrow II 144A 5.375% 11/15/31 #    1,870,000    1,180,178
Matterhorn Telecom 3.125% 9/15/26  EUR     69,000       68,376
Network i2i 144A 5.65% 1/15/25 #, μ, ψ      250,000      243,169
Prosus 144A 4.193% 1/19/32 #    1,335,000    1,026,080
Summit Digitel Infrastructure 144A 2.875% 8/12/31 #      700,000      521,292
Time Warner Cable 7.30% 7/1/38       350,000      326,343
Vmed O2 UK Financing I 144A 4.25% 1/31/31 #      400,000      315,009
Warnermedia Holdings 5.141% 3/15/52       330,000     233,688
   13,864,130
Consumer Cyclical — 6.09%
Alibaba Group Holding 3.40% 12/6/27     1,000,000      913,903
Alsea 144A 7.75% 12/14/26 #    1,560,000    1,549,998
Arches Buyer 144A 6.125% 12/1/28 #      463,000      374,435
Arcos Dorados 144A 6.125% 5/27/29 #    1,215,000    1,133,595
Bath & Body Works 6.875% 11/1/35     1,220,000    1,077,829
4    NQ- DD [1023] 1223 (3265778)
(Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Consumer Cyclical (continued)
Carnival      
144A 6.00% 5/1/29 #      805,000 $    680,721
144A 7.625% 3/1/26 #    2,036,000    1,981,400
Ford Motor Credit 6.95% 6/10/26       540,000      541,949
Kia 144A 1.75% 10/16/26 #      200,000      177,598
LSF9 Atlantis Holdings 144A 7.75% 2/15/26 #      478,000      431,968
Michaels      
144A 5.25% 5/1/28 #      351,000      254,651
144A 7.875% 5/1/29 #      331,000      184,915
PetSmart 144A 7.75% 2/15/29 #      840,000      774,150
Royal Caribbean Cruises 144A 5.50% 4/1/28 #      445,000      406,170
Sands China 5.375% 8/8/25       600,000      581,098
Staples      
144A 7.50% 4/15/26 #    1,230,000    1,004,232
144A 10.75% 4/15/27 #      411,000      226,818
VICI Properties      
4.95% 2/15/30       125,000      111,562
5.125% 5/15/32        95,000      82,184
   12,489,176
Consumer Non-Cyclical — 3.52%
Bausch Health      
144A 5.50% 11/1/25 #      120,000      103,594
144A 11.00% 9/30/28 #      173,000      105,963
Central American Bottling 144A 5.25% 4/27/29 #      585,000      515,654
DaVita      
144A  3.75% 2/15/31 #      250,000      179,918
144A  4.625% 6/1/30 #      335,000      262,814
Endo Luxembourg Finance 144A 6.125% 4/1/29 #, ‡       42,000       27,764
Heartland Dental 144A 8.50% 5/1/26 #      239,000      217,759
InRetail Consumer 144A 3.25% 3/22/28 #    1,740,000    1,461,715
JBS USA LUX      
3.00% 2/2/29       293,000      241,438
3.625% 1/15/32       400,000      307,833
MajorDrive Holdings IV 144A 6.375% 6/1/29 #      743,000      576,601
Medline Borrower      
144A 3.875% 4/1/29 #      579,000      489,429
144A 5.25% 10/1/29 #      266,000      226,687
MHP Lux      
144A 6.25% 9/19/29 #      228,000      144,588
144A 6.95% 4/3/26 #      247,000      184,870
NQ- DD [1023] 1223 (3265778)    5
Schedule of investments
Delaware Strategic Income Fund   (Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Consumer Non-Cyclical (continued)
Minerva Luxembourg 144A 8.875% 9/13/33 #      560,000 $    550,592
Par Pharmaceutical 144A 7.50% 4/1/27 #, ‡      342,000      232,237
Pilgrim's Pride 4.25% 4/15/31       433,000      357,130
Tenet Healthcare      
6.125% 10/1/28       145,000      134,615
6.875% 11/15/31       370,000      341,548
Teva Pharmaceutical Finance Netherlands III      
5.125% 5/9/29       200,000      174,758
6.75% 3/1/28       400,000     382,871
    7,220,378
Electric — 1.43%
Calpine      
144A 5.00% 2/1/31 #      145,000      117,099
144A 5.125% 3/15/28 #      279,000      249,951
Continuum Energy Aura 144A 9.50% 2/24/27 #      555,000      549,664
Duke Energy 4.875% 9/16/24 μ, ψ       80,000       77,610
Minejesa Capital 5.625% 8/10/37       200,000      148,076
NRG Energy 144A 4.45% 6/15/29 #      285,000      246,516
Pacific Gas and Electric 3.30% 8/1/40       367,000      222,953
TerraForm Power Operating 144A 5.00% 1/31/28 #      115,000      105,467
Vistra 144A 7.00% 12/15/26 #, μ, ψ    1,295,000    1,180,114
Vistra Operations 144A 4.30% 7/15/29 #       52,000      45,276
    2,942,726
Energy — 6.76%
Ascent Resources Utica Holdings      
144A 5.875% 6/30/29 #       96,000       84,905
144A 7.00% 11/1/26 #      236,000      228,122
Bellatrix Exploration 12.50% 12/15/23       249,000            0
Callon Petroleum      
144A 7.50% 6/15/30 #    1,605,000    1,556,286
144A 8.00% 8/1/28 #       75,000       74,199
CNX Midstream Partners 144A 4.75% 4/15/30 #      500,000      412,516
CNX Resources 144A 6.00% 1/15/29 #      700,000      642,559
Cosan Luxembourg 144A 5.50% 9/20/29 #      700,000      624,615
Crestwood Midstream Partners      
144A 5.625% 5/1/27 #      210,000      202,203
144A 6.00% 2/1/29 #      261,000      252,806
Energean Israel Finance 144A 8.50% 9/30/33 #    1,320,000    1,156,650
Energy Transfer 6.50% 11/15/26 μ, ψ      752,000      682,951
6    NQ- DD [1023] 1223 (3265778)
(Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Energy (continued)
EQM Midstream Partners 144A 4.75% 1/15/31 #    1,430,000 $  1,205,637
Ferrellgas 144A 5.375% 4/1/26 #      187,000      175,208
Genesis Energy      
7.75% 2/1/28       850,000      801,116
8.00% 1/15/27       590,000      567,085
Geopark 144A 5.50% 1/17/27 #    1,220,000    1,026,207
Guara Norte 144A 5.198% 6/15/34 #      548,241      465,517
Murphy Oil 6.375% 7/15/28     1,262,000    1,223,492
NuStar Logistics 6.375% 10/1/30     1,225,000    1,134,368
PDC Energy 5.75% 5/15/26       445,000      443,387
Tullow Oil 144A 10.25% 5/15/26 #      640,000      550,227
Vital Energy 10.125% 1/15/28       351,000     352,238
   13,862,294
Finance Companies — 0.80%
AerCap Ireland Capital DAC      
2.45% 10/29/26       150,000      133,483
3.30% 1/30/32       150,000      116,187
3.40% 10/29/33       150,000      112,242
Castlelake Aviation Finance DAC 144A 5.00% 4/15/27 #    1,335,000    1,179,263
Country Garden Holdings 7.25% 4/8/26       200,000        9,710
Logan Group 5.75% 1/14/25 ‡      200,000       12,568
RKPF Overseas 2020 A 5.125% 7/26/26       300,000      87,831
    1,651,284
Government Agency — 2.10%
Comision Federal de Electricidad 144A 3.875% 7/26/33 #      750,000      546,350
DP World 4.70% 9/30/49       200,000      144,630
Ecopetrol 6.875% 4/29/30       644,000      580,372
First Abu Dhabi Bank 4.50% 4/5/26 μ, ψ      200,000      187,850
Georgian Railway JSC 4.00% 6/17/28       865,000      743,986
Oryx Funding 144A 5.80% 2/3/31 #      485,000      449,459
Perusahaan Perseroan Persero Perusahaan Listrik Negara 144A 5.45% 5/21/28 #      700,000      679,490
Petroleos Mexicanos      
5.95% 1/28/31     1,135,000      812,830
6.70% 2/16/32       237,000     174,899
    4,319,866
NQ- DD [1023] 1223 (3265778)    7
Schedule of investments
Delaware Strategic Income Fund   (Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Insurance — 0.53%
Ardonagh Midco 2 144A PIK 11.50% 1/15/27 #, «      850,984 $    842,157
Brighthouse Financial 4.70% 6/22/47       112,000       73,658
MetLife 3.85% 9/15/25 μ, ψ      185,000     168,664
    1,084,479
Natural Gas — 0.25%
Medco Laurel Tree 144A 6.95% 11/12/28 #      545,000     503,865
      503,865
Real Estate Investment Trusts — 0.21%
CIBANCO Institucion de Banca Multiple Trust 144A 4.375% 7/22/31 #      605,000     440,779
      440,779
Technology — 2.12%
Broadcom 144A 3.469% 4/15/34 #      320,000      243,923
CDW 3.276% 12/1/28        95,000       81,340
CommScope Technologies 144A 6.00% 6/15/25 #      250,000      150,376
Entegris Escrow 144A 4.75% 4/15/29 #      305,000      273,438
Iron Mountain      
144A 5.25% 7/15/30 #      419,000      364,338
144A 5.625% 7/15/32 #      600,000      513,246
Iron Mountain Information Management Services 144A 5.00% 7/15/32 #    1,295,000    1,061,139
NCR Voyix      
144A 5.00% 10/1/28 #      419,000      362,381
144A 5.125% 4/15/29 #    1,245,000    1,071,935
144A 5.25% 10/1/30 #      271,000     224,730
    4,346,846
Transportation — 2.71%
Acu Petroleo Luxembourg 144A 7.50% 7/13/35 #    1,231,933    1,112,570
Azul Secured Finance 144A 11.93% 8/28/28 #    1,000,000      972,874
Burlington Northern Santa Fe 2.875% 6/15/52       180,000      102,858
Grupo Aeromexico 144A 8.50% 3/17/27 #    2,000,000    1,856,607
International Consolidated Airlines Group 3.75% 3/25/29  EUR    100,000       93,622
Mileage Plus Holdings 144A 6.50% 6/20/27 #      300,000      296,594
Rumo Luxembourg 144A 5.25% 1/10/28 #      800,000      731,672
United Airlines 144A 4.625% 4/15/29 #      457,000     386,441
    5,553,238
8    NQ- DD [1023] 1223 (3265778)
(Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Utilities — 0.34%
Clean Renewable Power Mauritius 144A 4.25% 3/25/27 #      603,000 $    515,366
Grupo Energia Bogota 144A 4.875% 5/15/30 #      200,000     176,931
      692,297
Total Corporate Bonds (cost $105,049,642)  93,239,013
Municipal Bonds — 1.06%
Commonwealth of Puerto Rico(Restructured)      
Series A  7.201% 7/1/24^       21,392       20,728
Series A-1 4.00% 7/1/35       95,758       80,493
Series A-1 4.00% 7/1/37       22,930       18,674
GDB Debt Recovery Authority of Puerto Rico
 7.50% 8/20/40 		   2,507,097   2,049,552
Total Municipal Bonds (cost $2,444,620)   2,169,447
Non-Agency Asset-Backed Securities — 8.04%
Citicorp Residential Mortgage Trust Series 2006-3 A5 4.655% 11/25/36 φ       58,390       57,209
DataBank Issuer Series 2021-1A A2 144A 2.06% 2/27/51 #    4,000,000    3,523,009
Diamond Infrastructure Funding Series 2021-1A A 144A 1.76% 4/15/49 #      750,000      638,678
Domino's Pizza Master Issuer Series 2021-1A A2I 144A 2.662% 4/25/51 #      487,500      407,075
Frontier Issuer Series 2023-1 A2 144A 6.60% 8/20/53 #    5,000,000    4,743,629
Hardee's Funding Series 2020-1A A2 144A 3.981% 12/20/50 #    2,139,500    1,791,521
Retained Vantage Data Centers Issuer Series 2023-1A A2A 144A 5.00% 9/15/48 #    4,000,000    3,608,856
Taco Bell Funding Series 2018-1A A2II 144A 4.94% 11/25/48 #      952,500      878,209
Wendy's Funding Series 2018-1A A2II 144A 3.884% 3/15/48 #      942,500     851,550
Total Non-Agency Asset-Backed Securities (cost $17,109,984)  16,499,736
NQ- DD [1023] 1223 (3265778)    9
Schedule of investments
Delaware Strategic Income Fund   (Unaudited)
    Principalamount° Value (US $)
Non-Agency Collateralized Mortgage Obligations — 9.16%
Connecticut Avenue Securities Trust      
Series 2022-R01 1M2 144A 7.221% (SOFR + 1.90%) 12/25/41 #, •    3,000,000 $  2,955,039
Series 2022-R02 2M2 144A 8.321% (SOFR + 3.00%) 1/25/42 #, •    3,000,000    2,998,836
Series 2023-R07 2M2 144A 8.571% (SOFR + 3.25%) 9/25/43 #, •    5,000,000    5,066,975
Freddie Mac Structured Agency Credit Risk Debt Notes Series 2023-HQA2 M1B 144A 8.671% (SOFR + 3.35%) 6/25/43 #, •    2,500,000    2,555,795
JPMorgan Mortgage Trust Series 2021-13 B1 144A 3.142% 4/25/52 #, •      574,380      420,103
Sequoia Mortgage Trust      
Series 2014-1 B3 144A 4.167% 4/25/44 #, •      675,450      578,550
Series 2017-5 B2 144A 3.779% 8/25/47 #, •    1,625,168    1,391,987
Series 2017-6 B2 144A 3.721% 9/25/47 #, •    1,638,027    1,434,846
Series 2017-7 B2 144A 3.724% 10/25/47 #, •    1,635,569   1,389,004
Total Non-Agency Collateralized Mortgage Obligations (cost $19,929,027)  18,791,135
Non-Agency Commercial Mortgage-Backed Securities — 2.74%
BANK      
Series 2020-BN28 B 2.344% 3/15/63       160,000      108,679
Series 2022-BNK39 B 3.239% 2/15/55 •    1,200,000      832,589
Series 2022-BNK40 B 3.393% 3/15/64 •      410,000      292,036
Benchmark Mortgage Trust      
Series 2020-B21 C 3.345% 12/17/53 •    1,000,000      642,263
Series 2020-B22 A5 1.973% 1/15/54     1,500,000    1,116,750
DBJPM Mortgage Trust Series 2020-C9 B 2.567% 8/15/53      737,000      512,706
GS Mortgage Securities Trust      
Series 2017-GS6 B 3.869% 5/10/50       500,000      403,618
Series 2018-GS9 B 4.321% 3/10/51 •      280,000      241,707
Series 2020-GC47 B 3.454% 5/12/53 •    1,840,000    1,364,582
JPMorgan Chase Commercial Mortgage Securities Trust Series 2013-LC11 B 3.499% 4/15/46      130,000     109,363
Total Non-Agency Commercial Mortgage-Backed Securities (cost $6,658,827)   5,624,293
10    NQ- DD [1023] 1223 (3265778)
(Unaudited)
    Principalamount° Value (US $)
Loan Agreements — 1.76%
Applied Systems 2nd Lien 12.14% (SOFR03M + 6.75%) 9/17/27 •      451,630 $    454,641
AssuredPartners 8.939% (SOFR01M + 3.61%) 2/12/27 •      445,986      442,874
Connect US Finco 8.824% (SOFR01M + 3.50%) 12/11/26 •      275,025      268,837
Foresight Energy Operating Tranche A 13.49% (SOFR03M + 8.10%) 6/30/27 •      285,306      278,174
Frontier Communications Tranche B 9.189% (SOFR01M + 3.86%) 10/8/27 •      682,500      660,034
Hamilton Projects Acquiror 9.939% (SOFR01M + 4.61%) 6/17/27 •      625,783      624,609
MLN US HoldCo 1st Lien 12.195% (SOFR03M + 6.80%) 10/18/27 •    1,413,880      408,847
MLN US HoldCo Tranche B 14.745% (SOFR03M + 9.35%) 10/18/27 •      427,200       55,536
Ultimate Software Group 1st Lien 9.333% (SOFR03M + 3.95%) 5/4/26 •      417,777     417,287
Total Loan Agreements (cost $4,760,546)   3,610,839
Sovereign Bonds — 4.47%Δ
Brazil — 0.30%
Brazilian Government International Bonds      
  3.75% 9/12/31       300,000      249,599
  4.75% 1/14/50       550,000     369,185
      618,784
Colombia — 0.07%
Colombia Government International Bond 3.125% 4/15/31       200,000     148,557
      148,557
Dominican Republic — 0.25%
Dominican Republic International Bonds      
  144A 4.50% 1/30/30 #      414,000      351,904
  144A 4.875% 9/23/32 #      200,000     162,367
      514,271
Indonesia — 0.39%
Indonesia Government International Bond 3.85% 10/15/30       900,000     800,875
      800,875
NQ- DD [1023] 1223 (3265778)    11
Schedule of investments
Delaware Strategic Income Fund   (Unaudited)
    Principalamount° Value (US $)
Sovereign BondsΔ (continued)
Ivory Coast — 0.31%
Ivory Coast Government International Bond 144A 6.125% 6/15/33 #      784,000 $    645,269
      645,269
Japan — 0.20%
Japan Government Thirty Year Bond 0.40% 3/20/50  JPY 89,550,000     414,703
      414,703
Mexico — 0.52%
Mexico Government International Bonds      
  3.25% 4/16/30       654,000      552,306
  3.50% 2/12/34       670,000     513,273
    1,065,579
Peru — 0.64%
Corp Financiera de Desarrollo 144A 2.40% 9/28/27 #      500,000      429,073
Corp Financiera de Desarrollo 5.25% 7/15/29 μ      200,000      196,637
Peruvian Government International Bond 2.783% 1/23/31       850,000     682,585
    1,308,295
Serbia — 0.14%
Serbia International Bond 144A 2.125% 12/1/30 #      400,000     294,701
      294,701
United Kingdom — 1.23%
United Kingdom Gilt 4.50% 6/7/28  GBP  2,065,000   2,514,845
    2,514,845
Uzbekistan — 0.42%
Republic of Uzbekistan International Bond 144A 4.75% 2/20/24 #      862,000     856,478
      856,478
Total Sovereign Bonds (cost $10,522,373)   9,182,357
US Treasury Obligations — 8.43%
US Treasury Bonds      
3.875% 2/15/43    1,770,000    1,472,004
3.875% 5/15/43    1,940,000    1,611,564
4.125% 8/15/53    3,945,000    3,375,440
US Treasury Notes      
3.375% 5/15/33    5,165,000    4,567,797
12    NQ- DD [1023] 1223 (3265778)
(Unaudited)
    Principalamount° Value (US $)
US Treasury Obligations (continued)
US Treasury Notes      
3.875% 8/15/33    6,805,000 $  6,264,322
Total US Treasury Obligations (cost $18,547,822)  17,291,127
    Number of
shares 		 
Common Stocks — 1.29%
Basic Industry — 0.64%
Foresight Energy †       42,271   1,301,934
    1,301,934
Consumer Discretionary — 0.16%
Studio City International Holdings ADR †       38,272     191,360
Studio City International Holdings ADR †       19,076      95,380
True Religion Apparel †            2      48,757
      335,497
Financial Services — 0.15%
New Cotai †      414,307     308,664
      308,664
Materials — 0.00%
Westmoreland Coal †          145         218
          218
Transportation — 0.34%
Grupo Aeromexico =, †       49,917     692,176
      692,176
Total Common Stocks (cost $6,152,233)   2,638,489
Preferred Stock — 0.01%
True Religion Apparel
6.25%  =, ω 		           2      11,435
Total Preferred Stock (cost $37,635)      11,435
Warrants — 0.01%
California Resources  †        1,368      24,405
Total Warrants (cost $119,109)      24,405
NQ- DD [1023] 1223 (3265778)    13
Schedule of investments
Delaware Strategic Income Fund   (Unaudited)
    Number of
shares 		Value (US $)
Short-Term Investments — 0.73%
Money Market Mutual Funds — 0.73%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.24%)      374,535 $    374,535
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.24%)      374,535      374,535
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.39%)      374,535      374,535
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.25%)      374,535     374,535
Total Short-Term Investments (cost $1,498,140)   1,498,140
Total Value of Securities—98.67%
(cost $225,318,898) 		    202,457,297
Receivables and Other Assets Net of Liabilities—1.33%★       2,729,792
Net Assets Applicable to 29,352,302 Shares Outstanding—100.00%     $205,187,089
° 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 October 31, 2023, the aggregate value of Rule 144A securities was $130,833,758, which represents 63.76% of the Fund's net assets.
• Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at October 31, 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.
μ Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at October 31, 2023. Rate will reset at a future date.
ψ Perpetual security. Maturity date represents next call date.
‡ Non-income producing security. Security is currently in default.
« PIK. The first payment of cash and/or principal will be made after October 31, 2023.
14    NQ- DD [1023] 1223 (3265778)
(Unaudited)
^ Zero-coupon security. The rate shown is the effective yield at the time of purchase.
φ Step coupon bond. Stated rate in effect at October 31, 2023 through maturity date.
Δ Securities have been classified by country of risk.
† Non-income producing security.
= The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security.
ω Perpetual security with no stated maturity date.
★ Includes $931,246 cash collateral held at broker for futures contracts as of October 31, 2023.
The following forward foreign currency exchange contracts and futures contracts were outstanding at October 31, 2023:
Forward Foreign Currency Exchange Contracts        
Counterparty   Currency to
Receive (Deliver) 		  In Exchange For   Settlement
Date 		  Unrealized
Appreciation
JPMCB   EUR (730,248)   USD 794,575   11/17/23   $21,350
JPMCB   GBP (2,100,000)   USD 2,583,546   11/17/23   30,840
JPMCB   JPY (66,900,000)   USD 457,203   11/17/23   14,598
Total Forward Foreign Currency Exchange Contracts   $66,788
Futures Contracts
Exchange-Traded
Contracts to Buy (Sell)   Notional
Amount 		  Notional
Cost
(Proceeds) 		  Expiration
Date 		  Value/
Unrealized
Appreciation 		  Value/
Unrealized
Depreciation 		  Variation
Margin
Due from
(Due to)
Brokers
(2) Euro-Bobl   $(246,093)   $(248,015)   12/7/23   $1,922   $—   $(283)
419 US Treasury 5 yr Notes   43,775,679   44,308,436   12/29/23   —   (532,757)   (30,393)
42 US Treasury 10 yr Notes   4,459,219   4,610,247   12/19/23   —   (151,028)   (1,968)
73 US Treasury 10 yr Ultra Notes   7,944,453   8,226,340   12/19/23   —   (281,887)   1,141
Total Futures Contracts   $56,897,008       $1,922   $(965,672)   $(31,503)
NQ- DD [1023] 1223 (3265778)    15
Schedule of investments
Delaware Strategic Income Fund   (Unaudited)
The use of forward foreign currency exchange contracts and futures contracts involves elements of market risk and risks in excess of the amounts disclosed in the schedule of investments. The forward foreign currency exchange contracts and notional amounts presented above represent the Fund's total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) and variation margin are reflected in the Fund's net assets.
Summary of abbreviations:
ADR – American Depositary Receipt
DAC – Designated Activity Company
FREMF – Freddie Mac Multifamily
GNMA – Government National Mortgage Association
GS – Goldman Sachs
JPMCB – JPMorgan Chase Bank
JSC – Joint Stock Company
PIK – Payment-in-kind
REMIC – Real Estate Mortgage Investment Conduit
S.F. – Single Family
SOFR – Secured Overnight Financing Rate
SOFR01M – Secured Overnight Financing Rate 1 Month
SOFR03M – Secured Overnight Financing Rate 3 Month
yr – Year
Summary of currencies:
EUR – European Monetary Unit
GBP – British Pound Sterling
JPY – Japanese Yen
USD – US Dollar
16    NQ- DD [1023] 1223 (3265778)