N-Q 1 dgegdandi3247481-nq.htm QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:      811-22050
 
Exact name of registrant as specified in charter: Delaware Enhanced Global Dividend
    and Income Fund
 
Address of principal executive offices: 2005 Market Street
  Philadelphia, PA 19103
 
Name and address of agent for service: David F. Connor, Esq.
2005 Market Street
Philadelphia, PA 19103
 
Registrant’s telephone number, including area code: (800) 523-1918
 
Date of fiscal year end: November 30
 
Date of reporting period: February 28, 2017


Item 1. Schedule of Investments.

Schedule of investments

Delaware Enhanced Global Dividend and Income Fund
February 28, 2017 (Unaudited)

      Number of
shares		       Value
(U.S. $)
Common Stock – 69.76%❖
Consumer Discretionary – 9.70%
Bayerische Motoren Werke 22,308 $ 1,993,924
  Ford Motor 75,100 941,003
Kering 7,235 1,760,978
Mattel 25,800 663,834
Nitori Holdings 13,308 1,549,412
Publicis Groupe 12,256 826,172
Sumitomo Rubber Industries 107,800 1,778,995
Target 14,700 863,919
Techtronic Industries 423,000 1,514,820
Toyota Motor 52,205 2,957,718
Valeo 19,114 1,174,666
Yue Yuen Industrial Holdings 679,000 2,527,805
18,553,246
Consumer Staples – 6.33%  
Archer-Daniels-Midland 12,700 596,519
Carlsberg Class B 19,822 1,741,560
Coca-Cola Amatil 171,302 1,346,207
CVS Health 6,900 556,002
Imperial Brands 27,409   1,290,017
Japan Tobacco 62,900 2,103,479
Kimberly-Clark 9,400 1,245,970
Kraft Heinz 6,600 603,966
Procter & Gamble 13,600   1,238,552
Reynolds American 12,764 785,879
Wal-Mart Stores 8,300 588,719
12,096,870
Diversified REITs – 0.69%
Colony NorthStar 5,520 81,034
Cousins Properties 17,020 145,521
Gramercy Property Trust 15,028 420,183
Investors Real Estate Trust 10,260 66,690
Lexington Realty Trust 14,178 158,226
Mapletree Logistics Trust 70,996 54,460
Orix JREIT 40 62,985
Vornado Realty Trust 1,973 216,774
Wereldhave 2,500 109,198
1,315,071
Energy – 4.71%
Chevron 6,600 742,500
Enbridge 18,204 761,837
Occidental Petroleum 19,200 1,258,560
Royal Dutch Shell ADR 19,500 1,072,500
Suncor Energy 49,500 1,541,052
TOTAL 39,025 1,945,192
TOTAL ADR 22,300 1,114,331
Williams 19,800 561,132
8,997,104
Financials – 10.30%
Arthur J. Gallagher 21,800 1,241,510
Ashford † 632 36,112
AXA 99,921 2,357,420
Bank Rakyat Indonesia
     Persero 1,710,900 1,533,088
BB&T 24,600 1,186,212
ING Groep 149,857 2,066,242
Mitsubishi UFJ Financial
     Group 562,928 3,699,907
Nordea Bank 212,464 2,490,272
Nordea Bank FDR 50,294 589,293
Solar Capital 8,309 185,041
Standard Chartered † 238,401 2,137,003
UniCredit 75,170 1,007,384
Wells Fargo & Co. 20,300 1,174,964
19,704,448
Healthcare – 8.47%
Abbott Laboratories 21,300 960,205
AbbVie 15,600 964,705
Amgen 3,500 617,855
AstraZeneca ADR 40,500 1,185,030
Brookdale Senior Living † 19,790 284,976
Cardinal Health 10,100 821,837
Johnson & Johnson 6,800 831,028
Merck & Co. 18,500 1,218,595
Novartis 35,919 2,803,853
Pfizer 39,760 1,356,611
Sanofi 37,205 3,205,620
Teva Pharmaceutical
     Industries ADR 55,600 1,947,112
16,197,427
Healthcare REITs – 0.23%
Healthcare Trust of America
     Class A 3,897 125,366
MedEquities Realty Trust 19,000 207,290
Welltower 1,589 111,834
444,490
Hotel REITs – 0.68%
Ashford Hospitality Prime 14,889 194,301
Ashford Hospitality Trust 61,800 406,026
Hospitality Properties Trust 10,500 333,690
Host Hotels & Resorts 5,587 100,510
Pebblebrook Hotel Trust 3,985 114,569

(continues)       NQ-DEX [2/17] 4/17 (18979) 1


Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

      Number of
shares		       Value
(U.S. $)
Common Stock❖ (continued)
Hotel REITs (continued)
Summit Hotel Properties 9,300 $ 143,127
1,292,223
Industrial REITs – 0.49%
Duke Realty 8,297 212,735
Goodman Group 49,447 286,228
Prologis Property Mexico † 116,800 172,774
Terreno Realty 9,357 259,189
930,926
Industrials – 11.46%
Deutsche Post 71,191 2,441,714
East Japan Railway 28,361 2,563,585
ITOCHU 216,602 3,135,904
Koninklijke Philips 74,430 2,250,017
Lockheed Martin 3,100 826,398
Meggitt 267,812 1,563,540
MINEBEA MITSUMI 164,700 2,028,971
Rexel 55,522 897,887
Teleperformance 15,838 1,753,382
United Technologies 5,100 574,005
Vinci 37,565 2,706,550
Waste Management 16,000 1,173,120
21,915,073
Information Technology – 4.79%
CA 35,200 1,135,904
Canon ADR 25,700 751,468
Cisco Systems 34,100 1,165,538
Intel 30,400 1,100,480
Playtech 165,148 1,828,946
Samsung Electronics 1,872 3,181,945
9,164,281
Mall REITs – 0.48%
GGP 5,724 142,299
Pennsylvania Real Estate
     Investment Trust 8,500 140,250
Simon Property Group 2,725 502,490
Taubman Centers 1,955 136,381
921,420
Manufactured Housing REIT – 0.13%
Equity LifeStyle Properties 3,156 251,281
251,281
Materials – 1.50%
Dow Chemical 19,600 1,220,296
Rio Tinto 33,926 1,387,941
Tarkett 6,400 267,681
2,875,918
Mixed REIT – 0.02%
PS Business Parks 400 46,484
46,484
Mortgage REITs – 0.25%
Starwood Property Trust 20,900 477,774
477,774
Multifamily REITs – 1.22%
ADO Properties 144A # 9,915 366,115
American Homes 4 Rent 10,926 259,711
Apartment Investment &
     Management 3,765 175,185
Equity Residential 20,063 1,265,373
Gecina 394 50,130
Mid-America Apartment
     Communities 1,576 161,902
Vonovia 1,371 47,771
2,326,187
Office REITs – 1.28%
alstria office REIT † 33,657 407,729
Champion REIT 125,000 71,816
Easterly Government
     Properties 38,559 797,015
Equity Commonwealth † 11,822 369,556
Hudson Pacific Properties 2,339 85,561
Intervest Offices &
     Warehouses 2,500 62,505
Kenedix Office Investment 50 297,299
Mack-Cali Realty 6,123 178,485
Parkway 2,127 44,624
SL Green Realty 1,235 139,160
2,453,750
Self-Storage REIT – 0.05%
Jernigan Capital 4,000 86,040
86,040
Shopping Center REITs – 1.06%
Brixmor Property Group 4,622 107,877
Charter Hall Retail REIT 71,117 233,914
DDR 3,924 56,741
First Capital Realty 2,922 46,023
Kimco Realty 5,734 139,049
Kite Realty Group Trust 12,316 278,957
Klepierre 1,425 52,936
Link REIT 33,000 227,640
Ramco-Gershenson Properties
     Trust 19,634 307,468
Retail Properties of America 5,858 90,272
Scentre Group 52,889 176,798

2 NQ-DEX [2/17] 4/17 (18979)


(Unaudited)

      Number of
shares		       Value
(U.S. $)
Common Stock❖ (continued)
Shopping Center REITs (continued)
Urban Edge Properties 2,941 $ 81,554
Westfield 16,989 114,624
Wheeler Real Estate
     Investment Trust 68,360 121,681
2,035,534
Single Tenant REIT – 0.17%
STORE Capital 13,071 325,599
325,599
Telecommunications – 4.44%
AT&T 32,800 1,370,712
Century Communications =† 125,000 0
Mobile TeleSystems ADR 110,200 1,131,754
Nippon Telegraph &
     Telephone 69,802 2,951,883
Tele2 Class B 190,261 1,702,034
Verizon Communications 26,900 1,335,047
8,491,430
Utilities – 1.31%
American Water Works 800 62,400
Edison International 7,600 606,024
National Grid 84,889 1,029,645
National Grid ADR 13,300 809,305
2,507,374
Total Common Stock
(cost $120,270,669) 133,409,950
 
Convertible Preferred Stock – 2.46%
A Schulman 6.00% exercise
     price $52.33, expiration
     date 12/31/49 542 486,581
AMG Capital Trust II 5.15%
     exercise price $200.00,
     expiration date 10/15/37 10,418 615,313
Bank of America 7.25%
     exercise price $50.00,
     expiration date 12/31/49 566 673,540
El Paso Energy Capital Trust I
     4.75% exercise price
     $50.00, expiration date
     3/31/28 10,323 517,182
Exelon 6.50% exercise price
     $43.75, expiration date
     6/1/17 12,500 619,750
Huntington Bancshares
     8.50% exercise price
     $11.95, expiration date
     12/31/49 533 739,735
Teva Pharmaceutical
     Industries 7.00% exercise
     price $75.00, expiration
     date 12/15/18 329 208,915
Wells Fargo & Co. 7.50%
     exercise price $156.71,
     expiration date 12/31/49 695 851,375
Total Convertible Preferred
Stock (cost $4,490,121) 4,712,391
 
Exchange-Traded Note – 0.01%
iPATH S&P 500 VIX
     Short-Term Futures ETN † 1,562 28,772
Total Exchange-Traded Note
(cost $1,177,623) 28,772
 
Principal
amount°
Agency Collateralized Mortgage Obligation – 0.03%
Fannie Mae REMICS
     Series 2001-50 BA
     7.00% 10/25/41 45,484 51,863
Total Agency Collateralized
Mortgage Obligation
(cost $46,487) 51,863
 
Agency Commercial Mortgage-Backed Securities – 0.01%
FREMF Mortgage Trust
     Series 2011-K15 B 144A
     4.948% 8/25/44 #● 10,000 10,873
     Series 2012-K22 B 144A
     3.686% 8/25/45 #● 10,000 10,205
Total Agency Commercial
Mortgage-Backed
Securities (cost $21,214) 21,078
 
Agency Mortgage-Backed Securities – 0.03%
Fannie Mae ARM
     2.399% 5/1/43 ● 3,468 3,507
     2.553% 6/1/43 ● 1,739 1,763
     2.834% 4/1/36 ● 13,832 14,623
     2.945% 10/1/36 ● 4,064 4,289
     2.945% 3/1/38 ● 5,361 5,634
     2.991% 11/1/35 ● 3,744 3,938
     3.107% 10/1/36 ● 5,102 5,383
     3.273% 9/1/43 ● 2,985 3,094
Fannie Mae S.F. 30 yr
     6.50% 5/1/40 941 1,060

(continues)       NQ-DEX [2/17] 4/17 (18979) 3


Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

      Principal
amount°		       Value
(U.S. $)
Agency Mortgage-Backed Securities (continued)
Freddie Mac ARM
     2.681% 10/1/36 ● 7,394 $ 7,815
GNMA II S.F. 30 yr
     6.00% 2/20/40 3,837 4,387
     6.50% 10/20/39 977 1,105
Total Agency
Mortgage-Backed
Securities (cost $54,628) 56,598
 
Commercial Mortgage-Backed Securities – 0.02%
Banc of America Commercial
     Mortgage Trust
     Series 2007-4 AM
     5.887% 2/10/51 ● 35,000 35,455
LB-UBS Commercial
     Mortgage Trust
     Series 2006-C6 AJ
     5.452% 9/15/39 ● 8,301 7,336
Total Commercial
Mortgage-Backed
Securities (cost $47,418) 42,791
 
Convertible Bonds – 15.41%
Brokerage – 0.95%
GAIN Capital Holdings
     4.125% exercise price
     $12.00, maturity date
     12/1/18 844,000 837,670
Jefferies Group 3.875%
     exercise price $43.93,
     maturity date 11/1/29 968,000 980,100
1,817,770
Capital Goods – 0.10%
Aerojet Rocketdyne Holdings
     144A 2.25% exercise price
     $26.00, maturity date
     12/15/23 # 193,000 197,343
197,343
Communications – 2.08%
Alaska Communications
     Systems Group 6.25%
     exercise price $10.28,
     maturity date 5/1/18 1,349,000 1,349,000
Clearwire Communications
     144A 8.25% exercise price
     $7.08, maturity date
     12/1/40 # 1,131,000 1,181,895
DISH Network 144A 3.375%
     exercise price $65.18,
     maturity date 8/15/26 # 449,000 542,729
Liberty Interactive 144A
     1.75% exercise price
     $341.10, maturity date
     9/30/46 # 639,000 716,479
Liberty Media 144A 2.25%
     exercise price $104.55,
     maturity date 9/30/46 # 178,000 191,239
  3,981,342
Consumer Cyclical – 0.84%
Huron Consulting Group
     1.25% exercise price
     $79.89, maturity date
     10/1/19 414,000 390,454
Meritor 4.00% exercise price
     $26.73, maturity date
     2/15/27 ϕ 1,149,000 1,208,603
1,599,057
Consumer Non-Cyclical – 2.91%
Brookdale Senior Living
     2.75% exercise price
     $29.33, maturity date
     6/15/18 1,165,000 1,144,613
HealthSouth 2.00% exercise
     price $37.16, maturity date
     12/1/43 701,000 846,019
Hologic 2.00% exercise price
     $31.18, maturity date
     3/1/42 ϕ 597,000 814,532
NuVasive 144A 2.25%
     exercise price $59.82,
     maturity date 3/15/21 # 285,000 391,519
Spectrum Pharmaceuticals
     2.75% exercise price
     $10.53, maturity date
     12/15/18 952,000 962,710
Vector Group
     1.75% exercise price
     $23.46, maturity date
     4/15/20 ● 1,007,000 1,154,903
     2.50% exercise price
     $15.22, maturity date
     1/15/19 ● 157,000 242,519
5,556,815
Energy – 0.63%
Helix Energy Solutions Group
     4.25% exercise price
     $13.89, maturity date
     5/1/22 744,000 776,085

4 NQ-DEX [2/17] 4/17 (18979)


(Unaudited)

      Principal
amount°		       Value
(U.S. $)
Convertible Bonds (continued)
Energy (continued)
PDC Energy 1.125% exercise
     price $85.39, maturity date
     9/15/21 395,000 $ 427,094
1,203,179
Financials – 1.33%
Ares Capital 144A 3.75%
     exercise price $19.39,
     maturity date 2/1/22 # 449,000 449,842
Blackhawk Network Holdings
     144A 1.50% exercise price
     $49.83, maturity date
     1/15/22 # 734,000 748,680
Hercules Capital 144A
     4.375% exercise price
     $16.41, maturity date
     2/1/22 # 316,000 318,963
New Mountain Finance
     5.00% exercise price
     $15.80, maturity date
     6/15/19 994,000 1,026,926
2,544,411
Industrials – 0.77%
Chart Industries 2.00%
     exercise price $69.03,
     maturity date 8/1/18 967,000 954,913
General Cable 4.50% exercise
     price $31.67, maturity date
     11/15/29 ϕ 690,000 513,619
1,468,532
Real Estate Investment Trusts – 1.78%
Blackstone Mortgage Trust
     5.25% exercise price
     $27.99, maturity date
     12/1/18 1,069,000 1,209,306
Spirit Realty Capital 3.75%
     exercise price $13.10,
     maturity date 5/15/21 916,000 966,385
VEREIT 3.75% exercise price
     $14.99, maturity date
     12/15/20 1,219,000 1,225,100
3,400,791
Technology – 4.02%
Cardtronics 1.00% exercise
     price $52.35, maturity date
     12/1/20 1,096,000 1,161,760
Ciena 144A 3.75% exercise
     price $20.17, maturity date
     10/15/18 # 469,000 665,980
Electronics For Imaging
     0.75% exercise price
     $52.72, maturity date
     9/1/19 638,000 675,084
j2 Global 3.25% exercise
     price $68.93, maturity date
     6/15/29 789,000 1,049,370
Knowles 144A 3.25%
     exercise price $18.43,
     maturity date 11/1/21 # 504,000 635,985
Nuance Communications
     2.75% exercise price
     $32.30, maturity date
     11/1/31 758,000 762,737
NXP Semiconductors 1.00%
     exercise price $102.84,
     maturity date 12/1/19 711,000 823,871
PROS Holdings 2.00%
     exercise price $33.79,
     maturity date 12/1/19 862,000 872,236
Verint Systems 1.50%
     exercise price $64.46,
     maturity date 6/1/21 1,101,000 1,049,391
7,696,414
Total Convertible Bonds
(cost $27,448,991) 29,465,654
 
Corporate Bonds – 46.06%
Banking – 1.87%
Ally Financial
     5.75% 11/20/25 525,000 556,500
Bank of America
     4.183% 11/25/27 5,000 5,045
     4.45% 3/3/26 25,000 25,974
Bank of New York Mellon
     2.20% 8/16/23 5,000 4,787
     2.50% 4/15/21 10,000 10,031
     3.442% 2/7/28 ● 5,000 5,052
     4.625% 12/29/49 ● 5,000 4,881
BB&T 2.45% 1/15/20 35,000 35,450
Citigroup 3.887% 1/10/28 ● 5,000 5,058
Citizens Financial Group
     4.30% 12/3/25 5,000 5,159
Credit Suisse Group 144A
     6.25% 12/29/49 #● 485,000 492,825
Goldman Sachs Group
     3.85% 1/26/27 50,000 50,609
     5.15% 5/22/45 5,000 5,352

(continues)       NQ-DEX [2/17] 4/17 (18979) 5


Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

      Principal
amount°		       Value
(U.S. $)
Corporate Bonds (continued)
Banking (continued)
Huntington Bancshares
     2.30% 1/14/22 5,000 $ 4,879
JPMorgan Chase & Co.
     4.25% 10/1/27 10,000 10,329
     4.26% 2/22/48 ● 10,000 10,125
Lloyds Banking Group
     7.50% 4/30/49 ● 245,000 260,633
Morgan Stanley
     3.95% 4/23/27 10,000 9,991
     4.375% 1/22/47 5,000 5,104
PNC Financial Services Group
     5.00% 12/29/49 ● 5,000 5,031
Popular 7.00% 7/1/19 570,000 598,500
Royal Bank of Scotland Group
     8.625% 12/29/49 ● 655,000 693,645
Santander UK Group Holdings
     2.875% 10/16/20 15,000 15,065
State Street
     2.55% 8/18/20 5,000 5,077
     3.10% 5/15/23 5,000 5,055
     3.55% 8/18/25 5,000 5,161
Suntrust Banks
     2.70% 1/27/22 5,000 5,004
Toronto-Dominion Bank
     2.125% 4/7/21 5,000 4,949
     2.50% 12/14/20 5,000 5,036
UBS Group
     6.875% 12/29/49 ● 600,000 619,133
US Bancorp 3.10% 4/27/26 5,000 4,930
USB Capital IX
     3.50% 10/29/49 ● 80,000 67,900
Wells Fargo & Co.
     3.069% 1/24/23 10,000 10,046
     4.75% 12/7/46 10,000 10,451
Westpac Banking
     4.322% 11/23/31 ● 5,000 5,057
Zions Bancorporation
     4.50% 6/13/23 5,000 5,149
3,572,973
Basic Industry – 7.22%
BMC East 144A
     5.50% 10/1/24 # 255,000 264,563
Boise Cascade 144A
     5.625% 9/1/24 # 425,000 436,687
Builders FirstSource
     144A 5.625% 9/1/24 # 215,000 221,987
     144A 10.75% 8/15/23 # 540,000 629,100
Cemex
     144A 5.70% 1/11/25 # 1,000,000 1,031,250
Cemex
     144A 7.75% 4/16/26 # 655,000 735,237
Cemex Finance 144A
     6.00% 4/1/24 # 200,000 208,250
CF Industries 6.875% 5/1/18 10,000 10,517
Cliffs Natural Resources 144A
     5.75% 3/1/25 # 210,000 206,535
Dow Chemical
     8.55% 5/15/19 34,000 38,818
FMG Resources August 2006
     144A 6.875% 4/1/22 # 400,000 414,250
Freeport-McMoRan
     4.55% 11/14/24 270,000 253,800
     144A 6.875% 2/15/23 # 705,000 747,300
Georgia-Pacific
     8.00% 1/15/24 10,000 13,001
Hudbay Minerals
     144A 7.25% 1/15/23 # 45,000 48,263
     144A 7.625% 1/15/25 # 355,000 389,613
International Paper
     4.40% 8/15/47 10,000 9,759
INVISTA Finance 144A
     4.25% 10/15/19 # 10,000 10,463
James Hardie International
     Finance 144A
     5.875% 2/15/23 # 415,000 432,637
Joseph T Ryerson & Son 144A
     11.00% 5/15/22 # 165,000 184,387
Koppers 144A
     6.00% 2/15/25 # 435,000 453,487
Kraton Polymers 144A
     10.50% 4/15/23 # 380,000 432,250
Lennar 4.75% 5/30/25 215,000 218,763
LYB International Finance II
     3.50% 3/2/27 5,000 4,996
M/I Homes 6.75% 1/15/21 400,000 422,000
NCI Building Systems 144A
     8.25% 1/15/23 # 340,000 371,450
New Gold
     144A 6.25% 11/15/22 # 146,000 148,190
     144A 7.00% 4/15/20 # 150,000 152,906
NOVA Chemicals 144A
     5.00% 5/1/25 # 285,000 289,275
Novelis
     144A 5.875% 9/30/26 # 265,000 273,281
     144A 6.25% 8/15/24 # 525,000 557,813
Potash Corp. of Saskatchewan
     4.00% 12/15/26 5,000 5,097
PQ 144A 6.75% 11/15/22 # 400,000 434,000
PulteGroup 5.00% 1/15/27 215,000 215,591

6 NQ-DEX [2/17] 4/17 (18979)


(Unaudited)

                  Principal       Value
amount° (U.S. $)
Corporate Bonds (continued)
Basic Industry (continued)
Standard Industries 144A
5.00% 2/15/27 # 430,000 $ 439,675
Steel Dynamics 144A
5.00% 12/15/26 # 420,000 434,700
Summit Materials
6.125% 7/15/23 420,000 438,900
8.50% 4/15/22 120,000 135,000
US Concrete 6.375% 6/1/24 405,000 430,313
Vale Overseas
6.25% 8/10/26 585,000 647,156
6.875% 11/10/39 410,000 450,590
Westlake Chemical 144A
5.00% 8/15/46 # 5,000 5,144
Zekelman Industries 144A
9.875% 6/15/23 # 490,000 554,925
13,801,919
Brokerage – 0.01%
Affiliated Managers Group
3.50% 8/1/25 5,000 4,897
Jefferies Group
5.125% 1/20/23 10,000 10,654
6.45% 6/8/27 5,000 5,620
6.50% 1/20/43 5,000 5,295
26,466
Capital Goods – 2.47%
Ardagh Packaging Finance
144A 6.00% 2/15/25 # 730,000 751,900
144A 7.25% 5/15/24 # 200,000 218,750
Ball 5.25% 7/1/25 405,000 431,325
BWAY Holding 144A
9.125% 8/15/21 # 673,000 733,570
CCL Industries 144A
3.25% 10/1/26 # 5,000 4,775
Crane 4.45% 12/15/23 10,000 10,354
Fortune Brands Home &
Security 3.00% 6/15/20 5,000 5,044
Gardner Denver 144A
6.875% 8/15/21 # 714,000 738,990
General Electric
2.10% 12/11/19 35,000 35,252
5.55% 5/4/20 5,000 5,571
6.00% 8/7/19 10,000 11,029
KLX 144A 5.875% 12/1/22 # 385,000 406,733
Lennox International
3.00% 11/15/23 5,000 4,939
Masco 3.50% 4/1/21 5,000 5,125
Roper Technologies
2.80% 12/15/21 5,000 5,018
Signode Industrial Group Lux
144A 6.375% 5/1/22 # 360,000 371,700
StandardAero Aviation
Holdings 144A
10.00% 7/15/23 # 190,000 203,300
TransDigm 144A
6.375% 6/15/26 # 765,000 774,563
United Technologies
3.75% 11/1/46 5,000 4,805
4,722,743
Consumer Cyclical – 3.28%
American Tire Distributors
144A 10.25% 3/1/22 # 355,000 354,113
Boyd Gaming
6.375% 4/1/26 870,000 942,863
General Motors Financial
5.25% 3/1/26 5,000 5,427
Hyundai Capital America
144A 2.55% 2/6/19 # 10,000 10,050
JC Penney 8.125% 10/1/19 400,000 428,000
L Brands 6.875% 11/1/35 415,000 400,994
Landry’s 144A
6.75% 10/15/24 # 410,000 427,425
Live Nation Entertainment
144A 4.875% 11/1/24 # 404,000 405,010
Lowe’s
3.375% 9/15/25 5,000 5,127
3.70% 4/15/46 5,000 4,760
Marriott International
3.75% 3/15/25 5,000 5,073
MGM Resorts International
4.625% 9/1/26 435,000 427,387
Mohegan Tribal Gaming
Authority 144A
7.875% 10/15/24 # 610,000 627,586
Murphy Oil USA
6.00% 8/15/23 395,000 416,231
Penn National Gaming 144A
5.625% 1/15/27 # 440,000 443,850
Penske Automotive Group
5.50% 5/15/26 595,000 592,441
Scientific Games International
10.00% 12/1/22 710,000 756,150
Starbucks 2.70% 6/15/22 5,000 5,085
Target 3.625% 4/15/46 5,000 4,580
Toyota Motor Credit
2.80% 7/13/22 5,000 5,069
Walgreens Boots Alliance
3.10% 6/1/23 5,000 5,008

(continues)       NQ-DEX [2/17] 4/17 (18979) 7


Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

                  Principal       Value
amount° (U.S. $)
Corporate Bonds (continued)
Consumer Cyclical (continued)
Walgreens Boots Alliance  
3.45% 6/1/26 10,000 $ 9,855
6,282,084
Consumer Non-Cyclical – 2.89%
Abbott Laboratories
4.90% 11/30/46 5,000 5,216
Albertsons
144A 5.75% 3/15/25 # 135,000 135,591
144A 6.625% 6/15/24 # 405,000 429,300
Altria Group
3.875% 9/16/46 5,000 4,739
Anheuser-Busch InBev
Finance 3.65% 2/1/26 25,000 25,412
Becton Dickinson & Co.
3.734% 12/15/24 3,000 3,107
Biogen 5.20% 9/15/45 5,000 5,477
Celgene
3.25% 8/15/22 5,000 5,070
3.875% 8/15/25 5,000 5,121
Coca-Cola 2.25% 9/1/26 5,000 4,715
Covidien International
Finance 4.20% 6/15/20 20,000 21,257
Dean Foods 144A
6.50% 3/15/23 # 560,000 585,200
ESAL 144A 6.25% 2/5/23 # 1,000,000 1,025,000
Gilead Sciences
4.15% 3/1/47 5,000 4,816
JBS USA 144A
5.75% 6/15/25 # 430,000 446,125
Kroger 4.45% 2/1/47 5,000 4,984
Kronos Acquisition Holdings
144A 9.00% 8/15/23 # 475,000 486,281
Molson Coors Brewing
3.00% 7/15/26 5,000 4,778
4.20% 7/15/46 5,000 4,778
Mylan 3.95% 6/15/26 10,000 9,785
Nature’s Bounty 144A
7.625% 5/15/21 # 425,000 449,969
Pfizer 3.00% 12/15/26 5,000 4,962
Post Holdings
144A 5.00% 8/15/26 # 220,000 212,437
144A 5.75% 3/1/27 # 214,000 216,810
Raizen Fuels Finance 144A
5.30% 1/20/27 # 900,000 922,500
Revlon Consumer Products
6.25% 8/1/24 420,000 432,600
Reynolds American
4.00% 6/12/22 5,000 5,259
Shire Acquisitions Investments
Ireland
2.40% 9/23/21 5,000 4,903
2.875% 9/23/23 5,000 4,845
St. Jude Medical
2.80% 9/15/20 5,000 5,034
Sysco 3.30% 7/15/26 5,000 4,931
Thermo Fisher Scientific
3.00% 4/15/23 10,000 9,894
Zimmer Biomet Holdings
4.625% 11/30/19 30,000 31,870
5,522,766
Electric – 0.17%
Ameren 3.65% 2/15/26 5,000 5,079
Ameren Illinois
9.75% 11/15/18 45,000 50,909
American Transmission
Systems 144A
5.25% 1/15/22 # 15,000 16,624
Berkshire Hathaway Energy
3.75% 11/15/23 10,000 10,526
Black Hills 3.15% 1/15/27 5,000 4,814
Cleveland Electric Illuminating
5.50% 8/15/24 5,000 5,742
CMS Energy
3.45% 8/15/27 5,000 4,997
6.25% 2/1/20 5,000 5,536
Commonwealth Edison
5.80% 3/15/18 5,000 5,219
Dominion Resources
3.90% 10/1/25 5,000 5,138
DTE Energy
2.85% 10/1/26 5,000 4,694
3.30% 6/15/22 5,000 5,096
Duke Energy
4.80% 12/15/45 5,000 5,391
Emera U.S. Finance
3.55% 6/15/26 5,000 4,946
4.75% 6/15/46 5,000 5,172
Entergy Louisiana
4.05% 9/1/23 15,000 15,929
Exelon 3.95% 6/15/25 10,000 10,322
Fortis 144A
3.055% 10/4/26 # 10,000 9,448
Great Plains Energy
4.85% 6/1/21 5,000 5,341
IPALCO Enterprises
5.00% 5/1/18 10,000 10,325

8 NQ-DEX [2/17] 4/17 (18979)


(Unaudited)

            Principal       Value
amount° (U.S. $)
Corporate Bonds (continued)
Electric (continued)
Kansas City Power & Light
     3.65% 8/15/25 10,000 $ 10,117
LG&E & KU Energy
     4.375% 10/1/21 20,000 21,254
Massachusetts Electric 144A
     4.004% 8/15/46 # 5,000 4,903
National Rural Utilities
     Cooperative Finance
     2.85% 1/27/25 5,000 4,972
     4.75% 4/30/43 ● 5,000 5,114
New York State Electric & Gas
     144A 3.25% 12/1/26 # 5,000 4,988
NextEra Energy Capital
     Holdings 2.40% 9/15/19 10,000 10,076
NV Energy 6.25% 11/15/20 5,000 5,648
Pennsylvania Electric
     5.20% 4/1/20 10,000 10,721
PPL Electric Utilities
     3.00% 9/15/21 10,000 10,290
Public Service Co. of New
     Hampshire
     3.50% 11/1/23 5,000 5,130
Public Service Co. of
     Oklahoma 5.15% 12/1/19 15,000 16,218
SCANA 4.125% 2/1/22 10,000 10,237
Southern 3.25% 7/1/26 10,000 9,753
Xcel Energy 3.30% 6/1/25 5,000 5,032
325,701
Energy – 7.30%
Alta Mesa Holdings 144A
     7.875% 12/15/24 # 415,000 440,937
AmeriGas Partners
     5.875% 8/20/26 615,000 638,063
Anadarko Petroleum
     6.60% 3/15/46 10,000 12,570
Antero Resources
     5.625% 6/1/23 615,000 625,763
BP Capital Markets
     3.216% 11/28/23 10,000 10,049
Cheniere Corpus Christi
     Holdings
     144A 5.875% 3/31/25 # 195,000 207,187
     144A 7.00% 6/30/24 # 205,000 230,625
Chesapeake Energy 144A
     8.00% 1/15/25 # 410,000 408,975
Diamondback Energy 144A
     4.75% 11/1/24 # 425,000 428,187
Ecopetrol 5.875% 5/28/45 615,000 560,695
Energy Transfer Equity
     5.50% 6/1/27 260,000 276,575
Energy Transfer Partners
     6.125% 12/15/45 5,000 5,539
     9.70% 3/15/19 7,000 8,007
Genesis Energy
     5.625% 6/15/24 100,000 100,250
     5.75% 2/15/21 260,000 265,200
     6.00% 5/15/23 80,000 81,400
     6.75% 8/1/22 244,000 255,590
Gulfport Energy
     144A 6.00% 10/15/24 # 500,000 500,000
     6.625% 5/1/23 135,000 138,037
Halcon Resources 144A  
     6.75% 2/15/25 # 410,000 406,925
Hilcorp Energy I
     144A 5.00% 12/1/24 # 208,000 200,200
     144A 5.75% 10/1/25 # 154,000 153,615
Holly Energy Partners 144A
     6.00% 8/1/24 # 225,000 237,375
Kinder Morgan Energy
     Partners 5.80% 3/1/21 5,000 5,529
Laredo Petroleum
     6.25% 3/15/23 450,000 463,500
MPLX 4.875% 12/1/24 10,000 10,693
Murphy Oil 6.875% 8/15/24 555,000 595,515
Newfield Exploration
     5.375% 1/1/26 295,000 309,013
Noble Energy
     5.05% 11/15/44 5,000 5,224
Noble Holding International
     5.25% 3/16/18 210,000 211,837
NuStar Logistics
     6.75% 2/1/21 360,000 394,200
Oasis Petroleum
     6.875% 3/15/22 230,000 235,750
Petroleos Mexicanos
     6.75% 9/21/47 1,490,000 1,478,080
Plains All American Pipeline
     8.75% 5/1/19 10,000 11,318
QEP Resources
     5.25% 5/1/23 630,000 623,700
Regency Energy Partners
     5.00% 10/1/22 10,000 10,726
Sabine Pass Liquefaction
     144A 4.20% 3/15/28 # 5,000 4,995
     144A 5.00% 3/15/27 # 190,000 201,594
Shell International Finance
     4.00% 5/10/46 5,000 4,893

(continues)       NQ-DEX [2/17] 4/17 (18979) 9


Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

            Principal       Value
amount° (U.S. $)
Corporate Bonds (continued)
Energy (continued)    
Shell International Finance
     4.375% 5/11/45 5,000 $ 5,187
Southwestern Energy
     6.70% 1/23/25 850,000 818,125
Targa Resources Partners
     144A 5.375% 2/1/27 # 830,000 873,575
Tesoro Logistics
     5.25% 1/15/25 415,000 438,863
Transcanada Trust
     5.30% 3/15/77 ● 5,000 5,059
Transocean 144A
     9.00% 7/15/23 # 380,000 412,300
Transocean Proteus 144A
     6.25% 12/1/24 # 195,000 202,069
WildHorse Resource
     Development 144A
     6.875% 2/1/25 # 435,000 430,650
Woodside Finance 144A
     8.75% 3/1/19 # 15,000 16,837
13,960,996
Financials – 0.66%
AerCap Global Aviation Trust
     144A 6.50% 6/15/45 #● 400,000 422,500
Air Lease 3.00% 9/15/23 5,000 4,926
Aviation Capital Group
     144A 2.875% 1/20/22 # 5,000 4,979
     144A 4.875% 10/1/25 # 5,000 5,412
E*TRADE Financial
     5.875% 12/29/49 ● 400,000 412,936
Park Aerospace Holdings
     144A 5.50% 2/15/24 # 395,000 413,348
1,264,101
Healthcare – 3.05%
Air Medical Group Holdings
     144A 6.375% 5/15/23 # 615,000 601,163
DaVita
     5.00% 5/1/25 450,000 453,911
     5.125% 7/15/24 145,000 148,263
HCA
     5.375% 2/1/25 715,000 749,856
     5.875% 2/15/26 110,000 118,140
     7.58% 9/15/25 175,000 194,250
HealthSouth
     5.75% 11/1/24 620,000 635,500
     5.75% 9/15/25 230,000 234,025
Hill-Rom Holdings
     144A 5.00% 2/15/25 # 165,000 166,237
     144A 5.75% 9/1/23 # 220,000 231,000
IASIS Healthcare
     8.375% 5/15/19 335,000 329,137
inVentiv Group Holdings
     144A 7.50% 10/1/24 # 230,000 241,500
Mallinckrodt International
     Finance
     144A 5.50% 4/15/25 # 80,000 74,800
     144A 5.625% 10/15/23 # 245,000 236,425
MPH Acquisition Holdings
     144A 7.125% 6/1/24 # 575,000 621,000
Team Health Holdings 144A
     6.375% 2/1/25 # 320,000 318,400
Tenet Healthcare
     8.125% 4/1/22 460,000 485,300
5,838,907
Insurance – 0.63%
Berkshire Hathaway Finance
     2.90% 10/15/20 35,000 36,179
Chubb INA Holdings
     3.35% 5/3/26 5,000 5,092
HUB International
     144A 7.875% 10/1/21 # 435,000 461,100
     144A 9.25% 2/15/21 # 110,000 114,194
Liberty Mutual Group 144A
     4.95% 5/1/22 # 5,000 5,445
Manulife Financial
     4.061% 2/24/32 ● 10,000 10,059
MetLife 6.40% 12/15/36 100,000 110,750
Principal Life Global
     Funding II 144A
     3.00% 4/18/26 # 5,000 4,891
Prudential Financial
     5.375% 5/15/45 ● 5,000 5,237
TIAA Asset Management
     Finance
     144A 2.95% 11/1/19 # 5,000 5,098
     144A 4.125% 11/1/24 # 10,000 10,318
USI 144A 7.75% 1/15/21 # 420,000 429,450
XLIT 4.45% 3/31/25 5,000 5,073
1,202,886
Media – 4.95%
Altice Luxembourg 144A
     7.75% 5/15/22 # 430,000 458,487
CCO Holdings
     144A 5.50% 5/1/26 # 25,000 26,594
     144A 5.75% 2/15/26 # 325,000 348,563
     144A 5.875% 5/1/27 # 460,000 495,236

10 NQ-DEX [2/17] 4/17 (18979)


(Unaudited)

            Principal       Value
amount° (U.S. $)
Corporate Bonds (continued)
Media (continued)
Cequel Communications
     Holdings I 144A
     7.75% 7/15/25 # 325,000 $ 362,781
CSC Holdings
     144A 5.50% 4/15/27 # 200,000 206,250
     144A
     10.875% 10/15/25 # 600,000 724,500
DISH DBS 7.75% 7/1/26 382,000 449,805
Gray Television 144A
     5.875% 7/15/26 # 615,000 625,191
Lamar Media 5.75% 2/1/26 360,000 388,350
Nexstar Broadcasting 144A
     5.625% 8/1/24 # 580,000 594,500
Nielsen Co. Luxembourg
     144A 5.00% 2/1/25 # 855,000 861,413
Radiate Holdco 144A
     6.625% 2/15/25 # 430,000 432,687
SFR Group 144A
     7.375% 5/1/26 # 860,000 894,400
Sinclair Television Group
     144A 5.125% 2/15/27 # 435,000 420,863
Sirius XM Radio 144A
     5.375% 4/15/25 # 380,000 389,622
Tribune Media
     5.875% 7/15/22 425,000 436,156
Virgin Media Secured Finance
     144A 5.25% 1/15/26 # 410,000 416,150
VTR Finance 144A
     6.875% 1/15/24 # 430,000 456,875
WideOpenWest Finance
     10.25% 7/15/19 445,000 470,587
9,459,010
Natural Gas – 0.01%
KeySpan Gas East 144A
     2.742% 8/15/26 # 5,000 4,819
NiSource Finance
     6.125% 3/1/22 5,000 5,766
Southern Co. Gas Capital
     3.25% 6/15/26 5,000 4,907
15,492
Real Estate Investment Trusts – 1.62%
American Tower Trust I 144A
     3.07% 3/15/23 # 20,000 20,020
CC Holdings GS V
     3.849% 4/15/23 5,000 5,136
Communications Sales &
     Leasing 144A
     7.125% 12/15/24 # 630,000 650,475
Corporate Office Properties
     3.60% 5/15/23 5,000 4,880
     5.25% 2/15/24 10,000 10,597
CubeSmart 3.125% 9/1/26 5,000 4,764
DDR
     3.625% 2/1/25 5,000 4,859
     7.50% 4/1/17 5,000 5,024
     7.875% 9/1/20 20,000 23,233
Education Realty Operating
     Partnership
     4.60% 12/1/24 5,000 5,050
ESH Hospitality 144A
     5.25% 5/1/25 # 580,000 586,525
GEO Group
     5.125% 4/1/23 165,000 166,237
     5.875% 1/15/22 700,000 732,375
     5.875% 10/15/24 140,000 144,900
     6.00% 4/15/26 280,000 292,880
Hospitality Properties Trust
     4.50% 3/15/25 5,000 4,985
Host Hotels & Resorts
     4.50% 2/1/26 5,000 5,191
Iron Mountain US Holdings
     144A 5.375% 6/1/26 # 420,000 420,000
Lifestorage 3.50% 7/1/26 5,000 4,804
WP Carey 4.60% 4/1/24 5,000 5,182
3,097,117
Services – 1.78%
Advanced Disposal Services
     144A 5.625% 11/15/24 # 425,000 435,625
Avis Budget Car Rental 144A
     6.375% 4/1/24 # 345,000 352,331
Herc Rentals
     144A 7.50% 6/1/22 # 115,000 124,775
     144A 7.75% 6/1/24 # 485,000 535,925
NES Rentals Holdings 144A
     7.875% 5/1/18 # 450,000 455,625
Prime Security Services
     Borrower 144A
     9.25% 5/15/23 # 965,000 1,060,294
United Rentals North America
     5.50% 5/15/27 430,000 440,561
3,405,136
Technology – 2.47%
Apple 3.45% 2/9/45 5,000 4,501
Broadcom
     144A 3.00% 1/15/22 # 5,000 5,003
     144A 3.625% 1/15/24 # 5,000 5,047

(continues)       NQ-DEX [2/17] 4/17 (18979) 11


Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

            Principal       Value
amount° (U.S. $)
Corporate Bonds (continued)
Technology (continued)
CDK Global 5.00% 10/15/24 395,000 $ 397,658
CDW Finance 5.00% 9/1/25 215,000 219,167
Change Healthcare Holdings
      144A 5.75% 3/1/25 # 445,000 460,575
Cisco Systems
      1.85% 9/20/21 5,000 4,907
CommScope 144A
      5.50% 6/15/24 # 150,000 157,687
CommScope Technologies  
      Finance 144A
      6.00% 6/15/25 # 240,000 258,000
Diamond 1 Finance  
      144A 6.02% 6/15/26 # 5,000 5,523
      144A 8.10% 7/15/36 # 310,000 390,881
Entegris 144A
      6.00% 4/1/22 # 415,000 434,194
Fidelity National Information
      Services 5.00% 10/15/25 10,000 10,979
First Data 144A
      7.00% 12/1/23 # 986,000 1,062,415
Infor U.S. 6.50% 5/15/22 365,000 381,425
Microsoft 4.25% 2/6/47 15,000 15,566
National Semiconductor
      6.60% 6/15/17 20,000 20,316
Oracle 4.00% 7/15/46 5,000 4,894
Sensata Technologies UK
      Financing 144A
      6.25% 2/15/26 # 350,000 378,875
Solera 144A
      10.50% 3/1/24 # 255,000 291,975
Symantec 144A
      5.00% 4/15/25 # 215,000 220,920
4,730,508
Telecommunications – 3.94%
21st Century Fox America
      4.95% 10/15/45 5,000 5,279
AT&T 5.25% 3/1/37 15,000 15,508
CenturyLink
      5.80% 3/15/22 210,000 217,613
      6.75% 12/1/23 370,000 388,500
      7.50% 4/1/24 245,000 263,987
Charter Communications
      Operating
      4.908% 7/23/25 10,000 10,568
Cincinnati Bell 144A
      7.00% 7/15/24 # 610,000 646,600
Cogent Communications
      Group 144A
      5.375% 3/1/22 # 215,000 224,675
Columbus Cable Barbados
      144A 7.375% 3/30/21 # 470,000 501,904
Comcast 3.00% 2/1/24 5,000 5,005
Crown Castle Towers 144A
      4.883% 8/15/20 # 30,000 31,987
Digicel Group 144A
      7.125% 4/1/22 # 1,250,000 1,021,500
Frontier Communications
      10.50% 9/15/22 365,000 381,881
Historic TW 6.875% 6/15/18 25,000 26,669
Level 3 Financing
      5.375% 5/1/25 360,000 372,600
Sprint 7.125% 6/15/24 725,000 784,588
Sprint Communications
      7.00% 8/15/20 302,000 326,537
Telecom Italia 144A
      5.303% 5/30/24 # 200,000 204,250
Time Warner Cable
      7.30% 7/1/38 10,000 12,546
T-Mobile USA
      6.00% 3/1/23 195,000 206,700
      6.00% 4/15/24 85,000 90,950
      6.375% 3/1/25 155,000 167,009
      6.50% 1/15/26 320,000 352,400
Verizon Communications
      144A 2.946% 3/15/22 # 5,000 5,001
      144A 5.012% 4/15/49 # 5,000 4,926
Wind Acquisition Finance
      144A 7.375% 4/23/21 # 605,000 631,469
Zayo Group 6.375% 5/15/25 580,000 627,125
7,527,777
Transportation – 0.31%
Air Canada 2015-1 Class A
      Pass Through Trust 144A
      3.60% 3/15/27 #⧫ 4,801 4,759
American Airlines 2014-1
      Class A Pass Through Trust
      3.70% 10/1/26 ⧫ 4,427 4,460
American Airlines 2015-1
      Class A Pass Through Trust
      3.375% 5/1/27 ⧫ 4,646 4,582
ERAC USA Finance 144A
      5.25% 10/1/20 # 15,000 16,273
Penske Truck Leasing
      144A 3.30% 4/1/21 # 5,000 5,086
      144A 3.375% 2/1/22 # 5,000 5,096
United Airlines 2014-1
      Class A Pass Through Trust
      4.00% 4/11/26 ⧫ 4,576 4,719

12 NQ-DEX [2/17] 4/17 (18979)


(Unaudited)

            Principal       Value
amount° (U.S. $)
Corporate Bonds (continued)
Transportation (continued)
United Airlines 2014-2
     Class A Pass Through Trust  
     3.75% 9/3/26 ⧫ 4,712 $ 4,776
United Parcel Service
     5.125% 4/1/19 10,000 10,714
XPO Logistics
     144A 6.125% 9/1/23 # 270,000 284,513
     144A 6.50% 6/15/22 # 235,000 247,631
      592,609
Utilities – 1.43%
AES
     5.50% 4/15/25 345,000 351,037
     6.00% 5/15/26 50,000 51,750
Calpine
     5.50% 2/1/24 205,000 203,975
     5.75% 1/15/25 540,000 537,030
Dynegy
     7.625% 11/1/24 330,000 315,150
     144A 8.00% 1/15/25 # 120,000 114,600
Emera 6.75% 6/15/76 ● 395,000 434,500
Enel 144A
     8.75% 9/24/73 #● 200,000 231,000
Pampa Energia 144A
     7.50% 1/24/27 # 500,000 504,375
      2,743,417
Total Corporate Bonds
(cost $85,189,617) 88,092,608
     
Non-Agency Asset-Backed Security – 0.01%
Nissan Auto Receivables
     Owner Trust
     Series 2016-A A2B
     1.12% 2/15/19 ● 16,539 16,541
Total Non-Agency
Asset-Backed Security
(cost $16,539) 16,541
 
Non-Agency Collateralized Mortgage Obligations – 0.06%
Citicorp Mortgage Securities
     Trust
     Series 2007-1 2A1 5.50%
     1/25/22 3,726 3,749
Citicorp Residential Mortgage
     Trust
     Series 2006-3 A5 5.767%
     11/25/36  ϕ 100,000 102,042
Total Non-Agency
Collateralized Mortgage
Obligations (cost $90,647) 105,791
 
Regional Bond – 0.26%Δ
Argentina – 0.26%
Provincia de Buenos Aires
     144A 7.875% 6/15/27 # 500,000 501,100
Total Regional Bond
(cost $492,660) 501,100
     
Loan Agreements – 1.52%«
Accudyne Industries Borrower
     1st Lien 4.00% 12/13/19 220,407 210,572
Applied Systems 2nd Lien
     7.50% 1/23/22 797,331 804,306
BJ’s Wholesale Club 2nd Lien
     8.50% 1/27/25 276,000 276,690
Blue Ribbon 1st Lien
     5.00% 11/13/21 145,638 144,091
KIK Custom Products Tranche
     B 1st Lien 5.50% 8/26/22 95,198 96,190
Kronos 2nd Lien
     9.284% 11/1/24 425,000 440,008
Moran Foods Tranche B 1st
     Lien 7.00% 12/5/23 215,000 214,642
Russell Investments U.S.
     Institutional Holdco
     Tranche B 1st Lien
     6.75% 6/1/23 233,825 236,163
     6.75% 6/1/23 165,000 166,650
Solera Tranche B 1st Lien
     5.75% 3/3/23 138,950 140,137
VC GB Holdings 2nd Lien
     9.00% 2/23/25 175,000 173,250
Total Loan Agreements
     (cost $2,815,953) 2,902,699
 
Sovereign Bonds – 4.18%Δ
Indonesia – 2.63%
Indonesia Government
     International Bonds
     144A 5.125% 1/15/45 # 1,000,000 1,050,029

(continues)       NQ-DEX [2/17] 4/17 (18979) 13


Schedule of investments
Delaware Enhanced Global Dividend and Income Fund (Unaudited)

Principal Value
            amount°       (U.S. $)
Sovereign BondsΔ (continued)
Indonesia (continued)
Indonesia Government
     International Bonds
     6.625% 2/17/37 1,350,000 $ 1,664,615
     144A 6.75% 1/15/44 # 1,800,000 2,312,690
      5,027,334
Mexico – 1.55%
Mexico Government
     International Bond
     3.60% 1/30/25 1,632,000 1,623,024
     4.35% 1/15/47 1,500,000 1,344,000
      2,967,024
Total Sovereign Bonds
(cost $7,998,362) 7,994,358
     
U.S. Treasury Obligations – 0.71%
U.S. Treasury Bond
     2.875% 11/15/46 80,000 78,520
U.S. Treasury Notes
     1.125% 7/31/21 190,000 184,192
     1.375% 1/31/21 60,000 59,160
     1.50% 8/15/26 1,055,000 977,030
     1.875% 1/31/22 35,000 34,955
     2.00% 12/31/21 5,000 5,023
     2.00% 11/15/26 25,000 24,187
Total U.S. Treasury
Obligations
(cost $1,424,766) 1,363,067
     
Leveraged Non-Recourse Security – 0.00%
JPMorgan Fixed Income Pass
     Auction Through Trust
     Series 2007-B 144A
     0.00% 1/15/87 #⧫ 500,000 0
Total Leveraged
Non-Recourse Security
(cost $425,000) 0
     
      Number of
      shares
Limited Partnership – 0.41%
Merion Countryside =† 693,473 775,233
Total Limited Partnership
(cost $643,124) 775,233
     
Master Limited Partnership – 0.25%
Ares Management 9,000 194,400
Brookfield Infrastructure
     Partners 8,100 292,248
Total Master Limited
Partnership (cost $290,287) 486,648
     
Preferred Stock – 0.68%
Bank of America 6.50% ● 470,000 513,912
Colony NorthStar 8.50% 3,580 91,862
Freddie Mac 6.02% 40,000 266,000
General Electric 5.00% ● 10,000 10,550
GMAC Capital Trust I
     6.824% ● 12,000 308,640
Integrys Energy Group
     6.00% ● 300 7,906
Vornado Realty Trust 6.625% 3,700 95,275
Total Preferred Stock
     (cost $2,021,585) 1,294,145
     
Rights – 0.01%
Safeway CVR =† 23,200 23,546
Safeway CVR =† 23,200 1,132
Total Rights (cost $0) 24,678
     
Warrant – 0.00%
Wheeler Real Estate
     Investment Trust strike
     price $5.50, expiration
     date 4/29/19 † 12,540 627
Total Warrant (cost $104) 627
     
Principal
amount°
Short-Term Investment – 0.07%
U.S. Treasury Obligation – 0.07%≠
U.S. Treasury Bill 0.44%
     4/13/17 133,073 132,998
Total Short-Term Investment
(cost $133,003) 132,998
     
Total Value of
Securities – 141.95%
(cost $255,098,798) 271,479,590
     
Borrowing Under Line of
Credit – (42.88%) (82,000,000 )
     
Receivables and Other
Assets Net of
Liabilities – 0.93% 1,768,532
 
Net Assets Applicable to
15,841,148 Shares
Outstanding – 100.00% $ 191,248,122

14 NQ-DEX [2/17] 4/17 (18979)


(Unaudited)

____________________

#

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At Feb. 28, 2017, the aggregate value of Rule 144A securities was $63,150,172, which represents 33.02% of the Fund’s net assets.

◆

Pass Through Agreement. Security represents the contractual right to receive a proportionate amount of underlying payments due to the counterparty pursuant to various agreements related to the rescheduling of obligations and the exchange of certain notes.

❖

Securities have been classified by type of business.

=

Security is being fair valued in accordance with the Fund’s fair valuation policy.At Feb. 28, 2017, the aggregate value of fair valued securities was $799,911, which represents 0.42% of the Fund’s net assets.

≠

The rate shown is the effective yield at the time of purchase.

«

Loan agreements generally pay interest at rates which are periodically reset by reference to a base lending rate plus a premium.These base lending rates are generally: (i) the prime rate offered by one or more U.S. banks, (ii) the lending rate offered by one or more European banks such as the London Interbank Offered Rate (LIBOR), and (iii) the certificate of deposit rate. Loan agreements may be subject to restrictions on resale. Stated rate in effect at Feb. 28, 2017.

°

Principal amount shown is stated in U.S. dollars unless noted that the security is denominated in another currency.

Δ

Securities have been classified by country of origin.

†

Non-income-producing security.

●

Variable rate security.Each rate shown is as of Feb. 28, 2017.Interest rates reset periodically.

ϕ

Step coupon bond.Coupon increases or decreases periodically based on a predetermined schedule. Stated rate in effect at Feb. 28, 2017.


Summary of abbreviations:
ADR – American Depositary Receipt
ARM – Adjustable Rate Mortgage
CVR – Contingent Value Rights
ETN – Exchange-Traded Note
FDR – Finnish Depositary Receipt
GNMA – Government National Mortgage Association
LB – Lehman Brothers
REIT – Real Estate Investment Trust
REMIC – Real Estate Mortgage Investment Conduit
S.F. – Single Family
UBS – Union Bank of Switzerland
yr – Year

NQ-DEX [2/17] 4/17 (18979) 15


Notes

Delaware Enhanced Global Dividend and Income Fund
February 28, 2017 (Unaudited)

1. Significant Accounting Policies

The following accounting policies are in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and are consistently followed by Delaware Enhanced Global Dividend and Income Fund (Fund). This report covers the period of time since the Fund’s last fiscal year end.

Security Valuation — Equity securities and exchange-traded funds (ETFs), except those traded on the Nasdaq Stock Market LLC (Nasdaq), are valued at the last quoted sales price as of the time of the regular close of the New York Stock Exchange on the valuation date. Equity securities and ETFs traded on the Nasdaq are valued in accordance with the Nasdaq Official Closing Price, which may not be the last sales price. If, on a particular day, an equity security or ETF does not trade, the mean between the bid and ask prices will be used, which approximates fair value. Equity securities listed on a foreign exchange are normally valued at the last quoted sales price on the valuation date. U.S. government and agency securities are valued at the mean between the bid and ask prices, which approximates fair value. Other debt securities are valued based upon valuations provided by an independent pricing service or broker/counterparty and reviewed by management. To the extent current market prices are not available, the pricing service may take into account developments related to the specific security, as well as transactions in comparable securities. Valuations for fixed income securities utilize matrix systems, which reflect such factors as security prices, yields, maturities, and ratings, and are supplemented by dealer and exchange quotations. For asset-backed securities, collateralized mortgage obligations, commercial mortgage securities, and U.S. government agency mortgage securities, pricing vendors utilize matrix pricing which considers prepayment speed, attributes of the collateral; yield or price of bonds of comparable quality, coupon, maturity, and type as well as broker/dealer-supplied prices. Foreign currency exchange contracts and foreign cross currency exchange contracts are valued at the mean between the bid and ask prices, which approximates fair value. Interpolated values are derived when the settlement date of the contract is an interim date for which quotations are not available. Exchange-traded options are valued at the last reported sale price or, if no sales are reported, at the mean between the last reported bid and ask prices, which approximates fair value. Generally, other securities and assets for which market quotations are not readily available are valued at fair value as determined in good faith under the direction of the Fund’s Board of Trustees. In determining whether market quotations are readily available or fair valuation will be used, various factors will be taken into consideration, such as market closures or suspension of trading in a security. The Fund may use fair value pricing more frequently for securities traded primarily in non-U.S. markets because, among other things, most foreign markets close well before the Fund values its securities, generally as of 4:00 p.m. Eastern time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, government actions or pronouncements, aftermarket trading, or news events may have occurred in the interim. Whenever such a significant event occurs, the Fund may frequently value foreign securities using fair value prices based on third-party vendor modeling tools (international fair value pricing).

2. Investments

At Feb. 28, 2017, the cost of investments for federal income tax purposes has been estimated since final tax characteristics cannot be determined until fiscal year end. At Feb. 28, 2017, the cost and unrealized appreciation (depreciation) of investments for the Fund were as follows:

Cost of investments $ 255,098,798
Aggregate unrealized appreciation of investments $ 33,459,990
Aggregate unrealized depreciation of investments (17,079,198 )
Net unrealized appreciation of investments $ 16,380,792

U.S. GAAP defines fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. A three-level hierarchy for fair value measurements has been established based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available under the circumstances. The Fund’s investment in its entirety is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-level hierarchy of inputs is summarized below.

16 NQ-DEX [2/17] 4/17 (18979)


(Unaudited)

Level 1  –  Inputs are quoted prices in active markets for identical investments. (Examples: equity securities, open-end investment companies, futures contracts, exchange-traded options contracts)
     

Level 2

  – 

Other observable inputs, including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates), or other market-corroborated inputs. (Examples: debt securities, government securities, swap contracts, foreign currency exchange contracts, foreign securities utilizing international fair value pricing, broker-quoted securities, fair valued securities)

     

Level 3

  – 

Significant unobservable inputs, including the Fund’s own assumptions used to determine the fair value of investments. (Examples: broker-quoted securities, fair valued securities)


Level 3 investments are valued using significant unobservable inputs. The Fund may also use an income-based valuation approach in which the anticipated future cash flows of the investment are discounted to calculate fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may also be based upon current market prices of securities that are comparable in coupon, rating, maturity, and industry. The derived value of a Level 3 investment may not represent the value which is received upon disposition and this could impact the results of operations.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of Feb. 28, 2017:

Securities   Level 1 Level 2 Level 3 Total
Common Stock       $ 133,409,950       $ —       $ —       $ 133,409,950
Convertible Preferred Stock1 3,610,497 1,101,894 — 4,712,391
Exchange-Traded Note 28,772 — — 28,772
Agency, Asset-Backed and
     Mortgage-Backed Securities — 294,662 — 294,662
Corporate Debt — 117,558,262 — 117,558,262
Foreign Debt — 8,495,458 — 8,495,458
Loan Agreements — 2,902,699 — 2,902,699
Limited Partnership — — 775,233 775,233
Master Limited Partnership 486,648 — — 486,648
Preferred Stock1 187,137 1,107,008 — 1,294,145
Rights — — 24,678 24,678
Warrant 627 — — 627
U.S. Treasury Obligations — 1,363,067 — 1,363,067
Short-Term Investments — 132,998 — 132,998
Total Value of Securities $ 137,723,631 $ 132,956,048 $ 799,911 $ 271,479,590

1Security type is valued across multiple levels. Level 1 investments represent exchange-traded investments, Level 2 investments represent investments with observable inputs or matrix-priced investments, and Level 3 investments represent investments without observable inputs. The amounts attributed to Level 1 investments, Level 2 investments, and Level 3 investments represent the following percentages of the total market value of these security types:

Level 1       Level 2       Total
Convertible Preferred Stock 76.62% 23.38% 100.00%
Preferred Stock 14.46% 85.54% 100.00%

The securities that have been valued at zero on the “Schedule of investments” are considered to be Level 3 investments in this table.

During the period ended Feb. 28, 2017, there were no transfers between Level 1 investments, Level 2 investments, or Level 3 investments that had a significant impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. In accordance with the fair valuation procedures described in Note 1, international fair value pricing of securities in the Fund occurs when market volatility exceeds an established rolling threshold. If the threshold is exceeded on a given date, then prices of international securities (those that traded on exchanges that close at a different time than the time that the Fund’s net asset value (NAV) is determined) are established using a separate pricing feed from a third party vendor designed to establish a price for each such security as of the time that the Fund’s NAV is determined. Further, international fair value pricing uses other observable market-based inputs in place of the closing exchange price due to the events occurring after the close of the exchange or market on which the investment is principally traded, causing a change in classification between levels.

(continues)       NQ-DEX [2/17] 4/17 (18979) 17


(Unaudited)

2. Investments (continued)

A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the beginning, interim, or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation of Level 3 investments as they are not considered significant to the Fund’s net assets at the beginning, interim, or end of the period. Management has determined not to provide additional disclosure on Level 3 inputs since the Level 3 investments are not considered significant to the Fund’s net assets at the end of the period.

3. Recent Accounting Pronouncements

On Oct. 13, 2016, the Securities and Exchange Commission amended existing rules intended to modernize reporting and disclosure of information. These amendments relate to Regulation S-X which sets forth the form and content of financial statements. At this time, management is evaluating the implications of adopting these amendments and their impact on the “Schedule of investments” and accompanying notes.

4. Subsequent Events

Effective April 3, 2017, Delaware Investments® Family of Funds became Delaware Fundssm by Macquarie and Delaware Investments changed its name to Macquarie Investment Management (MIM). MIM is the marketing name for the companies comprising the asset management division of Macquarie Group Limited.

Management has determined that no other material events or transactions occurred subsequent to Feb. 28, 2017 that would require recognition or disclosure in the Fund’s “Schedule of investments.”

18 NQ-DEX [2/17] 4/17 (18979)


Item 2. Controls and Procedures.

The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures within 90 days of the filing of this report and have concluded that they are effective in providing reasonable assurance that the information required to be disclosed by the registrant in its reports or statements filed under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission.

There were no significant changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), exactly as set forth below: