NPORT-EX 2 AIV0920DEL033122.htm
Schedule of investments
Delaware Ivy VIP Corporate Bond
March 31, 2022 (Unaudited)
    Principal
amount° 		Value (US $)
Agency Collateralized Mortgage Obligations — 0.00%
GNMA
Series 2005-23 IO 1.00% 6/17/45 • 		       3,848 $           0
Total Agency Collateralized Mortgage Obligations
(cost $11) 		           0
 
Convertible Bond — 0.09%
Spirit Airlines 1.00% exercise price $49.07, maturity date 5/15/26      567,000      511,434
Total Convertible Bond
(cost $495,791) 		     511,434
 
Corporate Bonds — 95.20%
Banking — 17.81%
Ally Financial 4.70% 5/15/26 *, μ    1,835,000     1,733,038
Bank of America      
1.898% 7/23/31 μ    1,325,000     1,159,326
2.299% 7/21/32 μ    3,225,000     2,874,672
2.482% 9/21/36 μ    4,010,000     3,453,969
2.496% 2/13/31 μ    4,000,000     3,681,135
2.592% 4/29/31 μ    3,675,000     3,396,728
3.974% 2/7/30 μ    2,500,000     2,543,189
Bank of New York Mellon 4.70% 9/20/25 μ    1,750,000     1,796,375
Citigroup      
2.572% 6/3/31 μ    4,872,000     4,472,055
3.50% 5/15/23     2,260,000     2,284,600
3.52% 10/27/28 μ    1,750,000     1,735,988
4.412% 3/31/31 μ    2,735,000     2,844,507
4.70% 1/30/25 μ      850,000       816,000
5.00% 9/12/24 *, μ    1,575,000     1,563,188
Credit Agricole 144A 2.811% 1/11/41 #    3,150,000     2,609,589
Goldman Sachs Group      
1.542% 9/10/27 μ      920,000       842,098
2.383% 7/21/32 μ    3,325,000     2,950,957
3.50% 11/16/26     2,000,000     2,010,103
3.615% 3/15/28 μ      945,000       944,854
3.80% 3/15/30     2,550,000     2,570,278
4.125% 11/10/26 μ      940,000       882,660
4.25% 10/21/25     3,250,000     3,332,682
ING Groep 3.55% 4/9/24     1,325,000     1,342,076
JPMorgan Chase & Co.      
1.47% 9/22/27 μ    4,185,000     3,861,479
2.522% 4/22/31 μ   10,202,000     9,469,395
3.22% 3/1/25 μ    6,000,000     6,023,998
3.875% 9/10/24     1,424,000     1,455,467
4.00% 4/1/25 *, μ    1,650,000     1,560,075
5.00% 8/1/24 μ      490,000       488,677
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Banking (continued)
Morgan Stanley      
1.659% 10/24/23 •    1,500,000 $   1,508,426
1.794% 2/13/32 μ    3,525,000     3,035,765
2.699% 1/22/31 μ    1,500,000     1,409,322
3.875% 1/27/26     3,850,000     3,926,789
4.875% 11/1/22     2,931,000     2,981,671
Royal Bank of Canada 2.30% 11/3/31     2,375,000     2,162,300
State Street 2.203% 2/7/28 μ    1,710,000     1,640,547
SVB Financial Group 4.00% 5/15/26 μ    1,910,000     1,769,138
Truist Financial 4.95% 9/1/25 μ    1,765,000     1,811,773
US Bancorp      
2.215% 1/27/28 μ    1,015,000       970,672
2.491% 11/3/36 μ    2,300,000     2,066,422
2.677% 1/27/33 μ    1,060,000     1,008,913
Wells Fargo & Co.      
2.879% 10/30/30 μ    4,080,000     3,882,257
3.526% 3/24/28 μ      775,000       774,063
3.90% 3/15/26 μ    2,440,000    2,340,387
   105,987,603
Basic Industry — 1.08%
Graphic Packaging International 144A 0.821% 4/15/24 #    2,480,000     2,358,887
Mosaic      
3.25% 11/15/22     1,333,000     1,342,381
4.25% 11/15/23       400,000       408,670
Newmont 2.60% 7/15/32       735,000       677,129
Nucor 3.125% 4/1/32     1,205,000     1,166,177
University of Southern California 3.028% 10/1/39       500,000      468,835
     6,422,079
Brokerage — 4.30%
Apollo Management Holdings 144A 2.65% 6/5/30 #, *    2,340,000     2,188,038
Blackstone Holdings Finance      
144A 1.60% 3/30/31 #      950,000       805,637
144A 2.00% 1/30/32 #    3,760,000     3,281,564
Blue Owl Finance 144A 3.125% 6/10/31 #    4,035,000     3,440,512
Charles Schwab      
1.65% 3/11/31     3,150,000     2,754,792
5.00% 6/1/27 μ    1,420,000     1,418,296
Citadel Finance 144A 3.375% 3/9/26 #    1,533,000     1,464,385
Jefferies Group 2.625% 10/15/31     2,130,000     1,924,006
KKR Group Finance VIII 144A 3.50% 8/25/50 #    4,000,000     3,504,710
NQ-IV092 [3/22] 5/22 (2218506)    1
Schedule of investments
Delaware Ivy VIP Corporate Bond (Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Brokerage (continued)
National Securities Clearing 144A 1.50% 4/23/25 #    5,000,000 $   4,791,328
    25,573,268
Capital Goods — 5.01%
Boeing      
3.75% 2/1/50     3,375,000     3,015,766
5.15% 5/1/30     1,000,000     1,067,997
General Dynamics 2.85% 6/1/41     2,540,000     2,315,300
Huntington Ingalls Industries 144A 2.043% 8/16/28 #    2,300,000     2,083,943
Lennox International 1.35% 8/1/25     2,750,000     2,577,878
Martin Marietta Materials 0.65% 7/15/23     1,165,000     1,137,855
Masco 1.50% 2/15/28     2,225,000     1,962,239
Raytheon Technologies      
2.25% 7/1/30 *    4,750,000     4,405,921
3.125% 7/1/50     1,075,000       969,467
Republic Services      
1.45% 2/15/31       910,000       774,160
2.30% 3/1/30     4,122,000     3,803,137
Vontier 2.40% 4/1/28     2,973,000     2,620,462
Waste Connections 3.50% 5/1/29     3,049,000    3,061,851
    29,795,976
Communications — 12.36%
AT&T      
3.10% 2/1/43     1,545,000     1,337,753
3.50% 6/1/41     2,000,000     1,846,630
3.50% 9/15/53     1,800,000     1,586,276
3.55% 9/15/55       942,000       834,036
3.65% 6/1/51     3,900,000     3,561,139
Bell Canada 4.30% 7/29/49     2,138,000     2,262,117
CCO Holdings 144A 4.75% 2/1/32 #    1,070,000       998,010
Charter Communications
Operating 		     
3.85% 4/1/61     3,910,000     3,155,775
3.90% 6/1/52     1,115,000       943,733
4.50% 2/1/24     2,306,000     2,360,146
Comcast      
144A 2.887% 11/1/51 #    1,446,000     1,225,091
3.25% 11/1/39     3,875,000     3,687,409
3.90% 3/1/38       500,000       516,678
Cox Communications      
144A 2.95% 10/1/50 #      850,000       671,734
144A 3.60% 6/15/51 #      925,000       826,289
Crown Castle International      
1.05% 7/15/26     2,500,000     2,262,112
3.15% 7/15/23       175,000       176,258
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Communications (continued)
Crown Castle International      
3.20% 9/1/24     2,250,000 $   2,254,395
4.00% 3/1/27     2,000,000     2,031,145
Directv Financing 144A 5.875% 8/15/27 #    1,050,000     1,034,329
Discovery Communications 4.00% 9/15/55     1,710,000     1,481,650
Magallanes      
144A 3.755% 3/15/27 #    2,720,000     2,719,586
144A 4.054% 3/15/29 #      455,000       457,783
144A 4.279% 3/15/32 #      475,000       477,702
144A 5.141% 3/15/52 #    1,835,000     1,881,739
Netflix 5.875% 2/15/25     4,035,000     4,309,037
Omnicom Group 3.65% 11/1/24     1,260,000     1,275,298
Paramount Global 4.75% 5/15/25     4,000,000     4,160,008
Rogers Communications      
144A 3.80% 3/15/32 #      905,000       899,125
144A 4.55% 3/15/52 #    1,145,000     1,141,634
Sprint 7.875% 9/15/23     2,742,000     2,916,789
T-Mobile USA      
2.875% 2/15/31       450,000       406,125
3.30% 2/15/51       425,000       358,898
3.50% 4/15/25     5,555,000     5,597,455
4.375% 4/15/40       575,000       579,157
TWDC Enterprises 18 4.125% 6/1/44     1,724,000     1,813,361
Verizon Communications      
2.65% 11/20/40     1,250,000     1,066,544
2.987% 10/30/56     1,492,000     1,233,428
3.875% 3/1/52 *    1,540,000     1,552,095
4.50% 8/10/33     3,575,000     3,845,186
VZ Secured Financing 144A 5.00% 1/15/32 #      705,000       660,250
Walt Disney 3.60% 1/13/51     1,175,000    1,167,584
    73,571,489
Consumer Cyclical — 7.41%
7-Eleven      
144A 1.30% 2/10/28 #      925,000       811,314
144A 1.80% 2/10/31 #    3,300,000     2,847,552
ADT Security 144A 4.875% 7/15/32 #      969,000       893,457
Amazon.com 3.875% 8/22/37     5,677,000     6,023,163
Aptiv      
3.10% 12/1/51     2,058,000     1,640,716
4.15% 5/1/52     1,220,000     1,147,147
AutoNation      
2.40% 8/1/31     2,600,000     2,267,924
3.85% 3/1/32       995,000       964,603
 
2    NQ-IV092 [3/22] 5/22 (2218506)
(Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Consumer Cyclical (continued)
DR Horton      
1.30% 10/15/26       460,000 $     418,716
2.60% 10/15/25     3,080,000     2,992,135
Ford Motor Credit      
2.30% 2/10/25       500,000       475,169
2.70% 8/10/26     1,065,000       991,792
2.90% 2/10/29       725,000       646,787
General Motors Financial      
1.25% 1/8/26     2,125,000     1,947,178
2.40% 10/15/28     1,420,000     1,273,725
3.10% 1/12/32       430,000       387,016
3.70% 5/9/23     2,000,000     2,020,943
Genting New York 144A 3.30% 2/15/26 #      850,000       805,023
Home Depot      
3.30% 4/15/40     4,500,000     4,349,884
4.20% 4/1/43     1,670,000     1,798,114
Lennar 4.75% 11/15/22     2,065,000     2,086,194
Nissan Motor 144A 3.522% 9/17/25 #      850,000       834,083
Nordstrom 2.30% 4/8/24       450,000       445,212
NVR 3.00% 5/15/30     4,022,000     3,759,574
Toll Brothers Finance      
3.80% 11/1/29       575,000       556,719
4.375% 4/15/23       470,000       474,949
Walmart 2.65% 9/22/51     1,410,000    1,257,294
    44,116,383
Consumer Non-Cyclical — 12.23%
Amgen 2.80% 8/15/41     1,750,000     1,507,324
Anheuser-Busch InBev Worldwide 4.70% 2/1/36     1,965,000     2,112,814
Bayer US Finance II 144A 2.85% 4/15/25 #    3,065,000     2,981,105
Boston Scientific 1.90% 6/1/25     2,000,000     1,921,820
Bristol-Myers Squibb 3.70% 3/15/52       920,000       927,368
Cargill 144A 2.125% 4/23/30 #    2,688,000     2,459,560
Clorox 3.90% 5/15/28     4,676,000     4,769,647
Coca-Cola 2.25% 1/5/32     1,215,000     1,134,784
Coca-Cola Europacific Partners 144A 0.80% 5/3/24 #    2,270,000     2,170,049
CVS Health 2.70% 8/21/40     1,267,000     1,083,523
Darling Ingredients 144A 5.25% 4/15/27 #    1,847,500     1,886,686
Dentsply Sirona 3.25% 6/1/30     2,706,000     2,611,529
Estee Lauder 1.95% 3/15/31     2,800,000     2,543,827
HCA      
144A 3.125% 3/15/27 #      675,000       660,599
5.875% 5/1/23     1,125,000     1,164,246
Hormel Foods 3.05% 6/3/51     2,431,000     2,193,871
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Consumer Non-Cyclical (continued)
Imperial Brands Finance 144A 3.125% 7/26/24 #    4,200,000 $   4,164,250
JBS USA LUX 144A 3.00% 2/2/29 #    1,560,000     1,446,159
Keurig Dr Pepper 0.75% 3/15/24     1,115,000     1,074,677
Kraft Heinz Foods 3.00% 6/1/26       211,000       208,408
McCormick & Co.      
0.90% 2/15/26     3,572,000     3,272,072
3.50% 9/1/23       771,000       776,513
Merck & Co.      
2.35% 6/24/40     3,075,000     2,654,854
2.45% 6/24/50     2,000,000     1,668,059
Nestle Holdings      
144A 3.90% 9/24/38 #    2,480,000     2,626,854
144A 4.00% 9/24/48 #    4,020,000     4,329,587
Novartis Capital 2.20% 8/14/30     2,500,000     2,350,138
PepsiCo      
2.75% 10/21/51     1,420,000     1,274,200
3.625% 3/19/50     2,325,000     2,395,385
Royalty Pharma      
1.20% 9/2/25     3,840,000     3,536,515
3.30% 9/2/40       325,000       277,525
Tyson Foods 3.95% 8/15/24     3,750,000     3,825,204
Universal Health Services 144A 1.65% 9/1/26 #    2,535,000     2,329,205
Zoetis      
2.00% 5/15/30     2,065,000     1,854,322
3.90% 8/20/28       556,000      571,878
    72,764,557
Electric — 6.07%
Alabama Power 3.125% 7/15/51     2,315,000     2,022,813
Appalachian Power 4.50% 3/1/49     1,500,000     1,573,383
Baltimore Gas and Electric 4.25% 9/15/48     1,500,000     1,601,452
Black Hills      
1.037% 8/23/24     1,650,000     1,576,514
4.35% 5/1/33     2,000,000     2,038,594
CenterPoint Energy      
2.95% 3/1/30     2,050,000     1,955,832
4.25% 11/1/28     1,683,000     1,734,414
Commonwealth Edison 3.65% 6/15/46     3,000,000     2,978,633
Duke Energy Carolinas 3.55% 3/15/52       295,000       292,237
Entergy 3.75% 6/15/50     3,550,000     3,343,466
Eversource Energy 2.90% 3/1/27     1,275,000     1,251,505
Fells Point Funding Trust 144A 3.046% 1/31/27 #    1,205,000     1,157,112
 
NQ-IV092 [3/22] 5/22 (2218506)    3
Schedule of investments
Delaware Ivy VIP Corporate Bond (Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Electric (continued)
FirstEnergy      
2.65% 3/1/30       775,000 $     705,095
3.40% 3/1/50       690,000       582,588
Georgia Power 3.70% 1/30/50       970,000       904,127
MidAmerican Energy 3.95% 8/1/47     2,000,000     2,086,978
National Rural Utilities Cooperative Finance 4.40% 11/1/48     2,000,000     2,158,968
Pacific Gas and Electric 3.00% 6/15/28     1,771,000     1,650,844
Southern California Edison      
3.45% 2/1/52       800,000       720,682
4.125% 3/1/48     1,275,000     1,259,670
Union Electric 3.90% 4/1/52       970,000     1,004,787
Virginia Electric and Power 4.60% 12/1/48     1,736,000     1,961,657
Wisconsin Electric Power      
4.25% 6/1/44       250,000       252,098
4.30% 10/15/48     1,250,000    1,326,852
    36,140,301
Energy — 3.71%
BP Capital Markets America 2.939% 6/4/51     3,295,000     2,826,088
Cheniere Energy Partners 4.00% 3/1/31       800,000       776,756
Colorado Interstate Gas 144A 4.15% 8/15/26 #    1,000,000     1,025,024
ConocoPhillips 3.80% 3/15/52     1,895,000     1,932,894
Diamondback Energy 4.25% 3/15/52       580,000       574,717
Energy Transfer      
6.00% 6/15/48     1,000,000     1,112,384
6.25% 4/15/49       280,000       322,531
EQM Midstream Partners 4.75% 7/15/23       337,000       340,044
EQT 6.625% 2/1/25       650,000       687,375
Kinder Morgan 5.55% 6/1/45     1,000,000     1,121,250
Midwest Connector Capital 144A 4.625% 4/1/29 #    1,949,000     1,973,539
Plains All American Pipeline 3.60% 11/1/24     1,031,000     1,035,009
Sabal Trail Transmission 144A 4.246% 5/1/28 #    2,500,000     2,580,920
Transcontinental Gas Pipe Line      
3.25% 5/15/30     1,225,000     1,196,413
4.60% 3/15/48     1,000,000     1,070,645
Williams Cos. 4.85% 3/1/48 *    3,250,000    3,477,900
    22,053,489
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Finance Companies — 1.62%
AerCap Ireland Capital DAC      
1.75% 1/30/26     2,182,000 $   2,004,645
3.00% 10/29/28     3,820,000     3,530,169
Air Lease 2.875% 1/15/32     1,850,000     1,658,611
Aviation Capital Group 144A 3.50% 11/1/27 #      255,000       241,789
Avolon Holdings Funding 144A 3.25% 2/15/27 #      540,000       508,771
Owl Rock Capital      
4.00% 3/30/25 *    1,025,000     1,009,028
5.25% 4/15/24       675,000      690,426
     9,643,439
Insurance — 3.88%
Aon      
2.80% 5/15/30     4,900,000     4,673,850
2.90% 8/23/51     2,030,000     1,689,489
Athene Global Funding 144A 1.985% 8/19/28 #    1,710,000     1,504,815
Berkshire Hathaway Finance 3.85% 3/15/52     2,135,000     2,185,922
Brighthouse Financial 3.85% 12/22/51       647,000       541,154
Brown & Brown 4.95% 3/17/52     1,220,000     1,306,297
Centene 2.45% 7/15/28       805,000       736,595
First American Financial 2.40% 8/15/31     2,100,000     1,841,622
Northwestern Mutual Life Insurance 144A 3.85% 9/30/47 #    3,000,000     2,940,459
Principal Life Global Funding II 144A 3.00% 4/18/26 #    1,000,000       992,153
UnitedHealth Group      
2.75% 5/15/40       250,000       225,356
3.05% 5/15/41     3,685,000     3,440,598
3.70% 8/15/49     1,000,000    1,019,278
    23,097,588
Natural Gas — 0.98%
Sempra Energy 4.875% 10/15/25 μ    1,715,000     1,727,863
Southern California Gas      
2.95% 4/15/27     1,413,000     1,395,219
4.30% 1/15/49     2,505,000    2,700,063
     5,823,145
Real Estate Investment Trusts — 2.19%
American Homes 4 Rent 3.625% 4/15/32       890,000       867,901
American Tower Trust #1 144A 3.07% 3/15/48 #    1,500,000     1,491,005
CyrusOne 2.90% 11/15/24     3,389,000     3,398,303
EPR Properties 4.95% 4/15/28       720,000       721,245
 
4    NQ-IV092 [3/22] 5/22 (2218506)
(Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Real Estate Investment Trusts (continued)
Extra Space Storage      
2.35% 3/15/32     2,892,000 $   2,543,080
2.55% 6/1/31     3,485,000     3,150,180
Global Net Lease 144A 3.75% 12/15/27 #      910,000      838,780
    13,010,494
Technology — 14.22%
Adobe 2.30% 2/1/30     3,417,000     3,237,222
Alphabet 2.05% 8/15/50     2,631,000     2,082,224
Apple      
2.65% 5/11/50       675,000       589,758
2.65% 2/8/51     1,075,000       930,302
2.70% 8/5/51     1,125,000       981,273
Autodesk      
2.40% 12/15/31       460,000       410,937
2.85% 1/15/30     5,231,000     4,933,243
Broadcom      
144A 3.419% 4/15/33 #    2,500,000     2,337,896
144A 3.469% 4/15/34 #    1,483,000     1,376,553
CDW      
2.67% 12/1/26       815,000       769,686
3.276% 12/1/28     3,590,000     3,388,152
3.569% 12/1/31     1,085,000     1,007,233
CoStar Group 144A 2.80% 7/15/30 #    2,431,000     2,225,395
Equinix 2.625% 11/18/24     4,895,000     4,829,184
Fidelity National Information Services 1.65% 3/1/28     2,225,000     1,994,998
Fiserv 3.85% 6/1/25     4,646,000     4,698,164
Global Payments      
2.65% 2/15/25     4,000,000     3,917,830
2.90% 11/15/31     1,280,000     1,167,735
Maxim Integrated Products 3.45% 6/15/27     1,700,000     1,696,933
Microchip Technology      
0.972% 2/15/24     1,250,000     1,198,855
144A 0.983% 9/1/24 #    2,685,000     2,544,386
Microsoft 2.921% 3/17/52     2,975,000     2,800,049
Nuance Communications 5.625% 12/15/26     3,450,000     3,547,048
NXP      
144A 3.875% 6/18/26 #    2,800,000     2,812,703
144A 4.875% 3/1/24 #      608,000       625,014
PayPal Holdings      
2.30% 6/1/30     2,110,000     1,966,958
3.25% 6/1/50 *    1,100,000     1,007,331
salesforce      
2.70% 7/15/41       700,000       621,968
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Technology (continued)
salesforce      
2.90% 7/15/51     2,025,000 $   1,804,301
Seagate HDD Cayman 4.75% 6/1/23 *      965,000       981,111
Texas Instruments      
3.875% 3/15/39     2,994,000     3,192,357
4.15% 5/15/48       400,000       445,536
Thomson Reuters 3.35% 5/15/26     2,760,000     2,772,838
TSMC Global      
144A 1.375% 9/28/30 #    2,215,000     1,887,509
144A 2.25% 4/23/31 #    3,900,000     3,572,349
Verisk Analytics 3.625% 5/15/50     2,660,000     2,512,725
Visa      
2.70% 4/15/40     4,897,000     4,463,147
4.30% 12/14/45       415,000       467,077
VMware 4.50% 5/15/25     1,650,000     1,701,437
Workday      
3.50% 4/1/27       275,000       275,116
3.70% 4/1/29       425,000       426,332
3.80% 4/1/32       445,000      444,703
    84,645,568
Transportation — 1.88%
Air Canada 2015-2 Class AA Pass Through Trust 144A 3.75% 6/15/29 #      734,783       720,589
American Airlines 2016-2 Class AA Pass Through Trust 3.20% 12/15/29     1,444,905     1,371,192
Burlington Northern Santa Fe      
2.875% 6/15/52       395,000       350,800
4.55% 9/1/44     1,000,000     1,112,709
Canadian Pacific Railway 3.00% 12/2/41     1,015,000       915,213
Delta Air Lines 2020-1 Class AA Pass Through Trust 2.00% 12/10/29     1,388,221     1,267,590
Kansas City Southern 3.50% 5/1/50     1,250,000     1,171,809
Union Pacific      
3.375% 2/14/42       265,000       256,674
3.55% 8/15/39     1,875,000     1,854,829
United Airlines 2016-1 Class AA Pass Through Trust 3.10% 1/7/30     2,249,531    2,178,710
    11,200,115
 
NQ-IV092 [3/22] 5/22 (2218506)    5
Schedule of investments
Delaware Ivy VIP Corporate Bond (Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Utilities — 0.45%
American Water Capital 4.15% 6/1/49     2,600,000 $   2,706,665
     2,706,665
Total Corporate Bonds
(cost $604,476,452) 		 566,552,159
 
Municipal Bonds — 0.92%
Commonwealth of Puerto Rico      
(Restructured)      
Series A1 2.986% 7/1/24 ^       26,193        23,917
Series A1 4.00% 7/1/33       50,920        49,842
Series A1 4.00% 7/1/35       45,770        44,302
Series A1 4.00% 7/1/37       39,283        37,845
Series A1 4.00% 7/1/41       53,409        50,919
Series A1 4.00% 7/1/46       55,545        52,488
Series A1 4.362% 7/1/33 ^       65,528        37,945
Series A1 5.25% 7/1/23       56,870        58,270
Series A1 5.375% 7/1/25       56,710        59,885
Series A1 5.625% 7/1/27       56,196        61,444
Series A1 5.625% 7/1/29       55,285        61,764
Series A1 5.75% 7/1/31       53,698        61,295
Series C 2.646% 11/1/43      254,246       136,975
GDB Debt Recovery Authority of
Puerto Rico 		     
(Taxable)  7.50%  8/20/40    1,812,957     1,704,180
New York City Industrial
Development Agency 		     
(Yankee Stadium Project) 144A  11.00%  3/1/29 #    2,410,000    3,055,181
Total Municipal Bonds
(cost $4,897,444) 		   5,496,252
 
Sovereign Bonds — 0.95%
Canada — 0.48%
Province of Quebec Canada
7.14% 2/27/26 φ, ~ 		   2,500,000    2,846,795
     2,846,795
Colombia — 0.13%
Colombia Government International Bonds
3.25% 4/22/32  		     925,000      774,567
       774,567
Mexico — 0.17%
Mexico Government International Bond
3.75% 4/19/71  		   1,250,000      994,475
       994,475
    Principal
amount° 		Value (US $)
Sovereign Bonds (continued)
United States — 0.17%
Tennessee Valley Authority
2.875% 2/1/27  		   1,000,000 $   1,012,968
     1,012,968
Total Sovereign Bonds
(cost $5,777,648) 		   5,628,805
 
US Treasury Obligation — 0.38%
US Treasury Note
1.875% 2/15/32 * 		   2,350,000    2,257,102
Total US Treasury Obligation
(cost $2,245,925) 		   2,257,102
    Number of
shares 		 
Short-Term Investments — 1.90%
Money Market Mutual Fund — 1.90%
State Street Institutional US Government Money Market Fund – Premier Class (seven-day effective yield 0.17%)   11,303,729   11,303,729
Total Short-Term Investments
(cost $11,303,729) 		  11,303,729
Total Value of Securities Before
Securities Lending Collateral—99.44%
(cost $629,197,000) 		 591,749,481
 
Securities Lending Collateral — 0.02%
Money Market Mutual Fund — 0.02%
Dreyfus Institutional Preference Government Money Market Fund - Institutional Shares (seven-day effective yield 0.30%)      140,850      140,850
Total Securities Lending Collateral
(cost $140,850) 		     140,850
Total Value of Securities—99.46%
(cost $629,337,850) 		    591,890,331■
Obligation to Return
Securities Lending
Collateral — (0.02%) 		        (140,850)
Receivables and Other Assets Net of Liabilities — 0.56%        3,353,145
Net Assets Applicable to 114,135,122 Shares Outstanding—100.00%      $595,102,626
° Principal amount shown is stated in USD unless noted that the security is denominated in another currency.
 
6    NQ-IV092 [3/22] 5/22 (2218506)
(Unaudited)
• Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at March 31, 2022. 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. LIBOR03M, LIBOR06M, 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.
* Fully or partially on loan.
μ Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at March 31, 2022. Rate will reset at a future date.
# Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At March 31, 2022, the aggregate value of Rule 144A securities was $107,179,290, which represents 18.01% of the Fund's net assets.
^ Zero-coupon security. The rate shown is the effective yield at the time of purchase.
φ Step coupon bond. Stated rate in effect at
March 31, 2022 through maturity date.
~ 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 March 31, 2022.
■ Includes $18,275,504 of securities loaned for which the counterparty pledged additional non-cash collateral valued at $18,512,521.
Summary of abbreviations: 
DAC – Designated Activity Company
GNMA – Government National Mortgage Association
ICE – Intercontinental Exchange, Inc.
LIBOR – London Interbank Offered Rate
LIBOR03M – ICE LIBOR USD 3 Month
LIBOR06M – ICE LIBOR USD 6 Month
USD – US Dollar
NQ-IV092 [3/22] 5/22 (2218506)    7