NPORT-EX 2 IV901DEL123122.htm
Schedule of investments
Delaware Ivy High Yield Fund 
December 31, 2022 (Unaudited)
    Principal
amount° 		Value (US $)
Convertible Bond — 0.18%
Spirit Airlines 1.00% exercise price $49.07, maturity date 5/15/26     90,000 $     72,900
Total Convertible Bond
(cost $80,121) 		     72,900
       
Corporate Bonds — 91.43%
Automotive — 2.11%
Ford Motor 4.75% 1/15/43    220,000     158,410
Ford Motor Credit      
3.375% 11/13/25    150,000     135,867
4.125% 8/17/27    150,000     134,594
4.542% 8/1/26    165,000     152,316
Goodyear Tire & Rubber 5.25% 7/15/31    315,000     258,061
      839,248
Banking — 0.43%
Deutsche Bank 6.00% 10/30/25 μ, ψ   200,000     170,614
      170,614
Basic Industry — 5.39%
ATI      
4.875% 10/1/29 *   160,000     141,601
5.125% 10/1/31    312,000     276,260
Cerdia Finanz 144A 10.50% 2/15/27 #   165,000     138,442
Chemours 144A 5.75% 11/15/28 #   310,000     278,876
FMG Resources August 2006      
144A 5.875% 4/15/30 #   220,000     205,254
144A 6.125% 4/15/32 #, *    95,000      88,734
Novelis 144A 4.75% 1/30/30 #   420,000     373,304
Standard Industries 144A 5.00% 2/15/27 #   420,000     388,172
Vibrantz Technologies 144A 9.00% 2/15/30 #   330,000     249,467
    2,140,110
Capital Goods — 2.51%
Bombardier 144A 6.00% 2/15/28 #   126,000      116,669
Clydesdale Acquisition Holdings 144A 6.625% 4/15/29 #    50,000      47,601
LABL 144A 5.875% 11/1/28 #   395,000     344,892
Sealed Air 144A 5.00% 4/15/29 #   140,000     131,802
TransDigm 4.625% 1/15/29    405,000     356,815
      997,779
Communications — 6.45%
Altice Financing 144A 5.00% 1/15/28 #   505,000      407,611
Altice France 144A 5.50% 10/15/29 #   775,000     592,344
    Principalamount° Value (US $)
Corporate Bonds (continued)
Communications (continued)
Connect Finco 144A 6.75% 10/1/26 #   380,000 $    352,951
Consolidated Communications 144A 6.50% 10/1/28 #   155,000      120,832
Digicel International Finance 144A 8.75% 5/25/24 #   235,000      202,471
Frontier Communications Holdings      
144A 5.00% 5/1/28 #    45,000       39,330
144A 5.875% 10/15/27 #   365,000      339,731
144A 6.75% 5/1/29 #   120,000       99,436
144A 8.75% 5/15/30 #    70,000       71,309
Northwest Fiber 144A 4.75% 4/30/27 #   165,000      145,384
Telesat Canada      
144A 4.875% 6/1/27 #   236,000      106,364
144A 6.50% 10/15/27 #   280,000      81,433
    2,559,196
Consumer Goods — 0.99%
Clydesdale Acquisition Holdings 144A 8.75% 4/15/30 #   135,000      115,809
Pilgrim's Pride 144A 4.25% 4/15/31 #   315,000      268,380
Scotts Miracle-Gro 4.00% 4/1/31 *    10,000       7,654
      391,843
Energy — 14.29%
Apache 4.75% 4/15/43 *   286,000      216,295
Ascent Resources Utica Holdings 144A 5.875% 6/30/29 #   104,000       92,865
Callon Petroleum      
144A 7.50% 6/15/30 #, *   125,000      114,538
144A 8.00% 8/1/28 #   405,000      386,604
CNX Midstream Partners 144A 4.75% 4/15/30 #    25,000       20,549
CNX Resources 144A 6.00% 1/15/29 #   420,000      387,084
Crestwood Midstream Partners 144A 6.00% 2/1/29 #    30,000       27,569
Endeavor Energy Resources 144A 5.75% 1/30/28 #   232,000      222,523
EQM Midstream Partners 144A 4.75% 1/15/31 #   569,000      466,270
Genesis Energy      
7.75% 2/1/28    275,000      253,566
8.00% 1/15/27    429,000      405,757
Hilcorp Energy I      
144A 6.00% 4/15/30 #   350,000      311,752
144A 6.00% 2/1/31 #    30,000       25,989
144A 6.25% 4/15/32 #   138,000      119,285
Murphy Oil 6.375% 7/15/28 *   478,000      460,782
NQ-IV901 [12/22] 2/23 (2747689)    1
Schedule of investments
Delaware Ivy High Yield Fund   (Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Energy (continued)
NuStar Logistics      
6.00% 6/1/26    237,000 $    228,617
6.375% 10/1/30    279,000      258,477
Occidental Petroleum      
4.20% 3/15/48     15,000       11,545
4.40% 4/15/46     63,000       49,316
4.40% 8/15/49    125,000       97,773
4.50% 7/15/44     65,000       52,072
6.45% 9/15/36    150,000      153,338
6.60% 3/15/46    120,000      123,749
Southwestern Energy      
5.375% 2/1/29    108,000      100,279
5.375% 3/15/30    269,000      245,851
USA Compression Partners      
6.875% 4/1/26    346,000      332,470
6.875% 9/1/27     50,000       46,830
Weatherford International      
144A 6.50% 9/15/28 #   256,000      251,325
144A 8.625% 4/30/30 #   220,000     211,661
    5,674,731
Financial Services — 4.45%
AerCap Global Aviation Trust 144A 6.50% 6/15/45 #, μ   570,000      538,320
AerCap Holdings 5.875% 10/10/79 μ   219,000      199,708
Air Lease 4.65% 6/15/26 μ, ψ    80,000       67,058
Castlelake Aviation Finance DAC 144A 5.00% 4/15/27 #, *   297,000      258,817
Credit Suisse Group 144A 9.75% 6/23/27 #, μ, ψ   200,000      174,713
Medline Borrower      
144A 2.403% 10/1/29 #   118,000       93,935
144A 3.875% 4/1/29 #   323,000      260,902
Midcap Financial Issuer Trust 144A 6.50% 5/1/28 #   200,000     172,293
    1,765,746
Healthcare — 7.76%
Avantor Funding 144A 3.875% 11/1/29 #, *   566,000      476,020
Bausch Health 144A 6.125% 2/1/27 #   335,000      231,445
Cheplapharm Arzneimittel 144A 5.50% 1/15/28 #   240,000      201,067
Consensus Cloud Solutions      
144A 6.00% 10/15/26 #   110,000      103,346
144A 6.50% 10/15/28 #   175,000      161,187
DaVita 144A 4.625% 6/1/30 #   405,000      326,649
    Principalamount° Value (US $)
Corporate Bonds (continued)
Healthcare (continued)
Encompass Health      
4.625% 4/1/31     90,000 $     77,501
4.75% 2/1/30     65,000       57,184
HCA 3.50% 9/1/30    270,000      233,503
ModivCare Escrow Issuer 144A 5.00% 10/1/29 #   300,000      253,380
Organon & Co. 144A 5.125% 4/30/31 #   450,000      390,436
Tenet Healthcare      
144A 4.375% 1/15/30 #   365,000      316,572
144A 6.125% 10/1/28 #, *   280,000     251,280
    3,079,570
Insurance — 2.81%
HUB International 144A 5.625% 12/1/29 #   380,000      332,379
Jones Deslauriers Insurance Management 144A 10.50% 12/15/30 #   420,000      414,185
NFP      
144A 6.875% 8/15/28 #   320,000      264,473
144A 7.50% 10/1/30 #   110,000     104,123
    1,115,160
Leisure — 8.66%
Boyd Gaming 144A 4.75% 6/15/31 #   510,000      444,302
Caesars Entertainment 144A 6.25% 7/1/25 #   430,000      418,693
Carnival      
144A 5.75% 3/1/27 #   717,000      513,207
144A 6.00% 5/1/29 #   121,000       80,859
144A 7.625% 3/1/26 #, *   153,000      121,538
Hilton Grand Vacations Borrower Escrow 144A 5.00% 6/1/29 #   600,000      516,765
Royal Caribbean Cruises      
144A 5.375% 7/15/27 #   613,000      497,113
144A 5.50% 8/31/26 #, *    30,000       25,275
144A 5.50% 4/1/28 #   338,000      270,339
Scientific Games Holdings 144A 6.625% 3/1/30 #   340,000      287,640
Scientific Games International 144A 7.25% 11/15/29 #   275,000     264,495
    3,440,226
Media — 10.89%
AMC Networks 4.25% 2/15/29 *   270,000      168,633
Arches Buyer 144A 6.125% 12/1/28 #   315,000      253,211
Belo 7.25% 9/15/27    217,000      206,523
 
2    NQ-IV901 [12/22] 2/23 (2747689)
(Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Media (continued)
CCO Holdings      
144A 4.50% 8/15/30 #   680,000 $    563,319
144A 5.375% 6/1/29 #   235,000      213,033
CMG Media 144A 8.875% 12/15/27 #   300,000      226,284
CSC Holdings      
144A 4.625% 12/1/30 #   710,000      393,936
144A 5.375% 2/1/28 #   175,000      141,370
Cumulus Media New Holdings 144A 6.75% 7/1/26 #   265,000      223,019
Directv Financing 144A 5.875% 8/15/27 #   395,000      354,141
DISH DBS 144A 5.75% 12/1/28 #   310,000      248,000
Gray Television 144A 4.75% 10/15/30 #   465,000      337,125
LABL 144A 8.25% 11/1/29 #    71,000       56,683
Nexstar Media 144A 4.75% 11/1/28 #   255,000      220,960
Sirius XM Radio 144A 4.125% 7/1/30 #   570,000      471,655
VZ Secured Financing 144A 5.00% 1/15/32 #   305,000     248,402
    4,326,294
Real Estate — 4.60%
CTR Partnership 144A 3.875% 6/30/28 #   223,000      189,358
Cushman & Wakefield US Borrower 144A 6.75% 5/15/28 #   370,000      353,766
HAT Holdings I      
144A 3.375% 6/15/26 #   185,000      160,985
144A 6.00% 4/15/25 #   353,000      342,410
Kennedy-Wilson 4.75% 2/1/30    235,000      179,493
Ladder Capital Finance Holdings      
144A 4.25% 2/1/27 #   633,000      532,846
144A 4.75% 6/15/29 #    85,000      68,751
    1,827,609
Retail — 3.68%
Asbury Automotive Group      
144A 4.625% 11/15/29 #   245,000      206,736
4.75% 3/1/30    215,000      180,105
LSF9 Atlantis Holdings 144A 7.75% 2/15/26 #   374,000      331,480
Murphy Oil USA      
144A 3.75% 2/15/31 #    75,000       61,861
4.75% 9/15/29    400,000      366,722
PetSmart 144A 7.75% 2/15/29 #   335,000     315,258
    1,462,162
    Principalamount° Value (US $)
Corporate Bonds (continued)
Services — 4.98%
Ahern Rentals 144A 7.375% 5/15/23 #   145,000 $    145,000
CDW 3.569% 12/1/31    375,000      309,717
Clarivate Science Holdings      
144A 3.875% 7/1/28 #    95,000       82,420
144A 4.875% 7/1/29 #   279,000      237,610
NESCO Holdings II 144A 5.50% 4/15/29 #   300,000      262,890
Prime Security Services Borrower      
144A 3.375% 8/31/27 #   270,000      233,485
144A 5.75% 4/15/26 #   185,000      178,469
Sotheby's 144A 5.875% 6/1/29 #   195,000      163,995
United Rentals North America 144A 6.00% 12/15/29 #   170,000      169,265
White Cap Buyer 144A 6.875% 10/15/28 #   223,000      193,262
White Cap Parent 144A PIK 8.25% 3/15/26 #, «     2,000       1,731
    1,977,844
Technology & Electronics — 4.64%
AthenaHealth Group 144A 6.50% 2/15/30 #   160,000      118,209
CommScope Technologies 144A 6.00% 6/15/25 #   138,000      125,864
Entegris Escrow      
144A 4.75% 4/15/29 #   125,000      114,244
144A 5.95% 6/15/30 #   365,000      337,078
ION Trading Technologies 144A 5.75% 5/15/28 #   275,000      230,436
NCR 144A 5.125% 4/15/29 #   454,000      380,501
Sensata Technologies 144A 4.00% 4/15/29 #   160,000      138,216
TTM Technologies 144A 4.00% 3/1/29 #   463,000     397,713
    1,842,261
Transportation — 3.01%
Air Canada 144A 3.875% 8/15/26 #   235,000      208,547
American Airlines 144A 5.75% 4/20/29 #   162,615      148,916
Grupo Aeromexico 144A 8.50% 3/17/27 #   255,000      225,545
Laredo Petroleum 144A 7.75% 7/31/29 #   280,000      252,388
Seaspan 144A 5.50% 8/1/29 #   475,000     360,587
    1,195,983
 
NQ-IV901 [12/22] 2/23 (2747689)    3
Schedule of investments
Delaware Ivy High Yield Fund   (Unaudited)
    Principalamount° Value (US $)
Corporate Bonds (continued)
Utilities — 3.78%
Calpine      
144A 3.75% 3/1/31 #   307,000 $    247,582
144A 4.625% 2/1/29 #    50,000       42,983
144A 5.125% 3/15/28 #, *   275,000      245,940
PG&E 5.25% 7/1/30 *   330,000      300,806
Vistra      
144A 7.00% 12/15/26 #, μ, ψ   455,000      414,677
144A 8.00% 10/15/26 #, *, μ, ψ   260,000     248,839
    1,500,827
Total Corporate Bonds
(cost $40,794,914) 		 36,307,203
 
Municipal Bonds — 0.59%
Commonwealth of Puerto Rico(Restructured)      
Series A-1 2.986% 7/1/24^     6,469        5,998
Series A-1 4.00% 7/1/35    14,120       11,917
GDB Debt Recovery Authority of Puerto Rico
 7.50% 8/20/40 		  259,520     217,348
Total Municipal Bonds
(cost $266,122) 		    235,263
    Number of
shares 		 
Short-Term Investments — 5.42%
Money Market Mutual Funds — 5.42%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 2.76%)   538,393     538,393
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.06%)   538,393     538,393
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.23%)   538,393     538,393
    Number of
shares 		Value (US $)
Short-Term Investments (continued)
Money Market Mutual Funds (continued)
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.11%)   538,394 $    538,394
Total Short-Term Investments
(cost $2,153,573) 		  2,153,573
Total Value of Securities Before
Securities Lending Collateral—97.62%
(cost $43,294,730) 		 38,768,939
 
Securities Lending Collateral — 0.36%
Money Market Mutual Fund — 0.36%
Dreyfus Institutional Preference Government Money Market Fund - Institutional Shares (seven-day effective yield 4.31%)   142,700     142,700
Total Securities Lending Collateral
(cost $142,700) 		    142,700
Total Value of Securities—97.98%
(cost $43,437,430) 		    38,911,639■
Obligation to Return
Securities Lending
Collateral — (0.36%) 		       (142,700)
Receivables and Other Assets Net of Liabilities — 2.37%         943,086
Net Assets Applicable to 4,859,360 Shares Outstanding—100.00%      $39,712,025
° Principal amount shown is stated in USD unless noted that the security is denominated in another currency.
μ Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at December 31, 2022. Rate will reset at a future date.
ψ Perpetual security. Maturity date represents next call date.
* Fully or partially on loan.
# Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At December 31, 2022, the aggregate value of Rule 144A securities was $29,131,341, which represents 73.36% of the Fund's net assets.
« PIK. The first payment of cash and/or principal will be made after December 31, 2022.
^ Zero-coupon security. The rate shown is the effective yield at the time of purchase.
■ Includes $2,732,687 of securities loaned for which the counterparty pledged additional non-cash collateral valued at $2,593,750.
    
 
4    NQ-IV901 [12/22] 2/23 (2747689)
(Unaudited)
Summary of abbreviations: 
DAC – Designated Activity Company
PIK – Payment-in-kind
Summary of abbreviations:  (continued)
USD – US Dollar
NQ-IV901 [12/22] 2/23 (2747689)    5