NPORT-EX 2 ADD1DEL043022.htm
Schedule of investments
Delaware Strategic Income Fund April 30, 2022 (Unaudited)
    Principal
amount° 		Value (US $)
Agency Collateralized Mortgage Obligations — 7.93%
Freddie Mac Structured Agency Credit Risk
REMIC Trust 		     
Series 2020-HQA2 M2 144A 3.768% (LIBOR01M + 3.10%) 3/25/50 #, •       1,542,880 $  1,548,986
Series 2021-DNA1 M2 144A 2.089% (SOFR + 1.80%) 1/25/51 #, •       1,500,000    1,468,861
Series 2021-DNA3 M2 144A 2.389% (SOFR + 2.10%) 10/25/33 #, •       1,350,000    1,314,508
Series 2021-HQA1 M2 144A 2.539% (SOFR + 2.25%) 8/25/33 #, •       2,000,000    1,962,570
Series 2021-HQA2 M2 144A 2.339% (SOFR + 2.05%) 12/25/33 #, •       2,000,000   1,937,541
Total Agency Collateralized Mortgage Obligations (cost $8,384,890)   8,232,466
Agency Commercial Mortgage-Backed Securities — 1.83%
FREMF Mortgage Trust      
Series 2017-K66 B 144A 4.174% 7/25/27 #, •         325,000      319,462
Series 2017-K71 B 144A 3.881% 11/25/50 #, •         325,000      315,197
Series 2018-K72 B 144A 4.118% 12/25/50 #, •         325,000      317,303
Series 2018-K86 C 144A 4.437% 11/25/51 #, •         970,000     948,387
Total Agency Commercial Mortgage-Backed Securities (cost $2,140,546)   1,900,349
Convertible Bonds — 2.16%
Blackstone Mortgage Trust 4.75% exercise price $36.23, maturity date 3/15/23          245,000      247,573
Helix Energy Solutions Group 6.75% exercise price $6.97, maturity date 2/15/26          290,000      303,949
Kaman 3.25% exercise price $65.26, maturity date 5/1/24        1,124,000    1,099,946
Paratek Pharmaceuticals 4.75% exercise price $15.90, maturity date 5/1/24          265,000      219,473
Spirit Airlines 1.00% exercise price $49.07, maturity date 5/15/26          404,000     369,054
Total Convertible Bonds (cost $2,187,763)   2,239,995
Corporate Bonds — 51.78%
Banking — 4.22%
Access Bank      
144A 6.125% 9/21/26 #         400,000      378,212
144A 9.125% 10/7/26 #, μ, ψ         400,000      366,000
NQ-023 [4/22] 6/22 (2257044)    1
Schedule of investments
Delaware Strategic Income Fund (Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Banking (continued)
Ally Financial 5.75% 11/20/25          330,000 $    339,356
Banco de Bogota 144A 6.25% 5/12/26 #         410,000      407,136
Banco Industrial 144A 4.875% 1/29/31 #, μ         200,000      190,439
Banco Mercantil del Norte 144A 8.375% 10/14/30 #, μ, ψ         500,000      516,888
Bank of America      
4.571% 4/27/33 μ         110,000      109,613
6.125% 4/27/27 μ, ψ          65,000       65,163
Bank of New York Mellon 4.70% 9/20/25 μ, ψ          47,000       47,000
Barclays 4.375% 3/15/28 μ, ψ         470,000      393,038
Citigroup 4.00% 12/10/25 μ, ψ         215,000      195,650
Deutsche Bank 5.625% 5/19/31 μ EUR       300,000      327,896
Fifth Third Bancorp 4.337% 4/25/33 μ          65,000       64,823
JPMorgan Chase & Co. 4.586% 4/26/33 μ          45,000       45,246
PNC Financial Services Group 6.00% 5/15/27 μ, ψ          50,000       50,000
SVB Financial Group      
4.00% 5/15/26 μ, ψ         420,000      365,799
4.57% 4/29/33 μ          85,000       84,322
Truist Financial 4.95% 9/1/25 μ, ψ         165,000      165,206
Wells Fargo & Co.      
3.90% 3/15/26 μ, ψ         205,000      187,180
4.611% 4/25/53 μ          85,000      83,846
    4,382,813
Basic Industry — 5.68%
AngloGold Ashanti Holdings      
3.375% 11/1/28          200,000      178,862
3.75% 10/1/30          440,000      394,277
Artera Services 144A 9.033% 12/4/25 #         205,000      194,289
Bidvest Group UK 144A 3.625% 9/23/26 #         600,000      552,765
CSN Inova Ventures 144A 6.75% 1/28/28 #         655,000      651,984
Domtar 144A 6.75% 10/1/28 #         509,000      505,455
First Quantum Minerals 144A 6.875% 10/15/27 #       1,000,000    1,006,185
JSW Steel 144A 5.05% 4/5/32 #         405,000      347,463
Methanex 5.25% 12/15/29          900,000      856,264
Sasol Financing USA 4.375% 9/18/26          675,000      634,335
Stillwater Mining 144A 4.00% 11/16/26 #         620,000     570,778
    5,892,657
2    NQ-023 [4/22] 6/22 (2257044)
(Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Brokerage — 1.69%
Charles Schwab 5.375% 6/1/25 μ, ψ          35,000 $     35,440
Jefferies Group 6.50% 1/20/43        1,400,000    1,531,561
XP 144A 3.25% 7/1/26 #         200,000     183,883
    1,750,884
Capital Goods — 1.79%
Roller Bearing Co. of America 144A 4.375% 10/15/29 #         250,000      225,312
SAN Miguel Industrias Pet 144A 3.50% 8/2/28 #         640,000      556,115
Standard Industries      
144A 3.375% 1/15/31 #         159,000      127,214
144A 4.375% 7/15/30 #         313,000      261,355
Turkiye Sise ve Cam Fabrikalari 144A 6.95% 3/14/26 #         700,000     684,653
    1,854,649
Communications — 6.49%
Altice France 144A 5.50% 10/15/29 #         865,000      736,232
Cellnex Finance 144A 3.875% 7/7/41 #         400,000      300,002
Cumulus Media New Holdings 144A 6.75% 7/1/26 #         500,000      498,208
Discovery Communications 4.00% 9/15/55           10,000        7,516
HTA Group 144A 7.00% 12/18/25 #         750,000      743,917
LCPR Senior Secured Financing DAC 144A 5.125% 7/15/29 #         610,000      556,320
Magallanes      
144A 3.755% 3/15/27 #         150,000      145,254
144A 4.279% 3/15/32 #          25,000       23,237
144A 5.141% 3/15/52 #          95,000       84,870
Rogers Communications      
144A 3.80% 3/15/32 #          45,000       41,477
144A 4.55% 3/15/52 #          60,000       53,340
Sprint Capital 8.75% 3/15/32          525,000      668,063
Terrier Media Buyer 144A 8.875% 12/15/27 #         415,000      406,158
Time Warner Cable 7.30% 7/1/38          650,000      729,958
Turkcell Iletisim Hizmetleri 144A 5.80% 4/11/28 #         755,000      680,791
Vmed O2 UK Financing I 144A 4.25% 1/31/31 #         400,000      338,860
VTR Comunicaciones 144A 4.375% 4/15/29 #         850,000     721,149
    6,735,352
Consumer Cyclical — 4.33%
Alsea 144A 7.75% 12/14/26 #         600,000      603,192
Arcos Dorados 144A 6.125% 5/27/29 #         370,000      363,364
NQ-023 [4/22] 6/22 (2257044)    3
Schedule of investments
Delaware Strategic Income Fund (Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Consumer Cyclical (continued)
B2W Digital 144A 4.375% 12/20/30 #         630,000 $    518,953
Bath & Body Works 6.875% 11/1/35          460,000      450,365
Carnival      
144A 5.75% 3/1/27 #         355,000      322,056
144A 7.625% 3/1/26 #         398,000      389,996
General Motors Financial 5.70% 9/30/30 μ, ψ          80,000       78,400
MGM Resorts International 4.75% 10/15/28          425,000      390,958
PetSmart 144A 7.75% 2/15/29 #         250,000      249,029
Prime Security Services Borrower 144A 6.25% 1/15/28 #         500,000      448,775
Royal Caribbean Cruises 144A 5.50% 4/1/28 #         135,000      123,418
Schaeffler 2.875% 3/26/27  EUR       350,000      349,546
Six Flags Entertainment 144A 4.875% 7/31/24 #         140,000      139,623
VICI Properties      
4.95% 2/15/30           20,000       19,879
5.125% 5/15/32           40,000      39,764
    4,487,318
Consumer Non-Cyclical — 3.95%
Bausch Health      
144A 5.50% 11/1/25 #         120,000      116,324
144A 6.25% 2/15/29 #         637,000      464,297
Central American Bottling 144A 5.25% 4/27/29 #         585,000      556,502
CSL Finance      
144A 4.05% 4/27/29 #          30,000       29,862
144A 4.75% 4/27/52 #          50,000       49,277
InRetail Consumer 144A 3.25% 3/22/28 #         625,000      552,441
JBS USA 144A 3.00% 2/2/29 #          25,000       22,284
MHP 144A 6.25% 9/19/29 #         505,000      265,125
Organon & Co. 144A 5.125% 4/30/31 #         500,000      452,572
Ortho-Clinical Diagnostics 144A 7.25% 2/1/28 #         526,000      532,015
Pilgrim's Pride 144A 5.875% 9/30/27 #         121,000      122,028
Tenet Healthcare      
144A 4.25% 6/1/29 #         255,000      230,742
144A 6.125% 10/1/28 #         145,000      139,448
6.875% 11/15/31          370,000      383,844
Teva Pharmaceutical Finance Netherlands III 5.125% 5/9/29          200,000     181,858
    4,098,619
4    NQ-023 [4/22] 6/22 (2257044)
(Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Electric — 2.07%
Calpine      
144A 5.00% 2/1/31 #         145,000 $    123,832
144A 5.125% 3/15/28 #         279,000      253,781
Duke Energy 4.875% 9/16/24 μ, ψ          80,000       79,400
Fells Point Funding Trust 144A 3.046% 1/31/27 #         100,000       94,168
NRG Energy 144A 4.45% 6/15/29 #         335,000      321,635
Pacific Gas and Electric 3.30% 8/1/40          517,000      377,346
PG&E 5.25% 7/1/30          315,000      286,853
UEP Penonome II 144A 6.50% 10/1/38 #         626,091     610,699
    2,147,714
Energy — 8.92%
Canacol Energy 144A 5.75% 11/24/28 #         610,000      553,935
CNX Midstream Partners 144A 4.75% 4/15/30 #         500,000      460,672
CNX Resources 144A 6.00% 1/15/29 #         700,000      691,799
Crestwood Midstream Partners 144A 6.00% 2/1/29 #         442,000      430,716
Ecopetrol 4.625% 11/2/31          615,000      514,983
Energy Transfer 6.50% 11/15/26 μ, ψ         485,000      462,016
Genesis Energy 7.75% 2/1/28          505,000      486,757
Geopark 144A 5.50% 1/17/27 #         620,000      559,621
Guara Norte 144A 5.198% 6/15/34 #         594,915      525,134
Lukoil Capital DAC 144A 3.60% 10/26/31 #         620,000      232,500
Murphy Oil      
5.875% 12/1/27          365,000      362,651
6.375% 7/15/28          270,000      274,949
NuStar Logistics 6.375% 10/1/30          125,000      123,253
PDC Energy 5.75% 5/15/26          445,000      433,537
Petroleos Mexicanos 5.95% 1/28/31        1,135,000      956,845
Southwestern Energy 7.75% 10/1/27          655,000      684,816
TechnipFMC 144A 6.50% 2/1/26 #         832,000      862,052
Tullow Oil 144A 10.25% 5/15/26 #         640,000     636,230
    9,252,466
Finance Companies — 1.98%
AerCap Ireland Capital DAC      
2.45% 10/29/26          150,000      133,555
3.30% 1/30/32          150,000      124,884
3.40% 10/29/33          150,000      123,247
Castlelake Aviation Finance DAC 144A 5.00% 4/15/27 #         620,000      558,849
CIFI Holdings Group 6.45% 11/7/24          200,000      165,600
NQ-023 [4/22] 6/22 (2257044)    5
Schedule of investments
Delaware Strategic Income Fund (Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Finance Companies (continued)
Oryx Funding 144A 5.80% 2/3/31 #         685,000 $    677,013
Times China Holdings 5.55% 6/4/24          520,000     275,600
    2,058,748
Insurance — 1.79%
Brighthouse Financial      
4.70% 6/22/47          244,000      210,174
5.625% 5/15/30           25,000       26,140
Brown & Brown 4.95% 3/17/52          136,000      130,766
HUB International 144A 5.625% 12/1/29 #         545,000      500,713
MetLife 3.85% 9/15/25 μ, ψ         185,000      176,638
Sagicor Financial 144A 5.30% 5/13/28 #         400,000      390,598
USI 144A 6.875% 5/1/25 #         425,000     419,150
    1,854,179
Natural Gas — 0.49%
Medco Laurel Tree 144A 6.95% 11/12/28 #         545,000     510,686
      510,686
Real Estate Investment Trusts — 0.04%
American Homes 4 Rent 3.625% 4/15/32           50,000      45,550
       45,550
Technology — 2.06%
Broadcom 144A 3.469% 4/15/34 #       1,185,000    1,007,071
Entegris Escrow 144A 4.75% 4/15/29 #          90,000       86,865
ION Trading Technologies 144A 5.75% 5/15/28 #         250,000      234,390
Iron Mountain      
144A 5.25% 7/15/30 #          71,000       65,197
144A 5.625% 7/15/32 #         600,000      543,666
Iron Mountain Information Management Services 144A 5.00% 7/15/32 #         230,000     203,111
    2,140,300
Transportation — 4.79%
Abertis Infraestructuras Finance 3.248% 11/24/25 μ, ψ EUR       200,000      199,309
Azul Investments 144A 7.25% 6/15/26 #         640,000      544,887
Babcock International Group 1.375% 9/13/27  EUR       500,000      480,596
DAE Funding 144A 3.375% 3/20/28 #         695,000      635,056
Delta Air Lines 7.375% 1/15/26          661,000      704,738
Grupo Aeromexico 144A 8.50% 3/17/27 #         500,000      505,675
International Consolidated Airlines Group 3.75% 3/25/29  EUR       300,000      273,605
6    NQ-023 [4/22] 6/22 (2257044)
(Unaudited)
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Transportation (continued)
Mileage Plus Holdings 144A 6.50% 6/20/27 #         625,000 $    638,181
Rutas 2 and 7 Finance 144A 3.018% 9/30/36 #, ^         705,666      473,894
United Airlines      
144A 4.375% 4/15/26 #         100,000       96,650
144A 4.625% 4/15/29 #         457,000     419,958
    4,972,549
Utilities — 1.49%
Clean Renewable Power Mauritius 144A 4.25% 3/25/27 #         656,600      604,456
Electricite de France      
2.875% 12/15/26 μ, ψ EUR       600,000      563,368
3.00% 9/3/27 μ, ψ EUR       400,000     372,558
    1,540,382
Total Corporate Bonds (cost $59,137,560)  53,724,866
Municipal Bonds — 1.07%
Commonwealth of Puerto Rico      
 2.646% 11/1/43^         185,682       96,787
Series A  2.993% 7/1/24^          19,224       17,490
Series A  4.363% 7/1/33^          48,098       27,515
Series A1 4.00% 7/1/33          37,375       34,751
Series A1 4.00% 7/1/35          33,594       31,147
Series A1 4.00% 7/1/37          28,832       25,991
Series A1 4.00% 7/1/41          39,202       35,344
Series A1 4.00% 7/1/46          40,769       35,867
Series A1 5.375% 7/1/25          41,625       43,036
Series A1 5.625% 7/1/27          41,247       43,754
Series A1 5.625% 7/1/29          40,578       43,729
Series A1 5.75% 7/1/31          39,413       43,137
Series A1 5.25% 7/1/23          41,742       42,259
GDB Debt Recovery Authority of Puerto Rico (Taxable)
 7.50% 8/20/40 		        638,655     589,958
Total Municipal Bonds (cost $1,168,089)   1,110,765
NQ-023 [4/22] 6/22 (2257044)    7
Schedule of investments
Delaware Strategic Income Fund (Unaudited)
    Principal
amount° 		Value (US $)
Non-Agency Asset-Backed Securities — 3.15%
Citicorp Residential Mortgage Trust
Series 2006-3 A5 4.763% 11/25/36 • 		        149,600 $    145,860
Diamond Infrastructure Funding
Series 2021-1A A 144A 1.76% 4/15/49 # 		        750,000      664,191
Domino's Pizza Master Issuer
Series 2021-1A A2I 144A 2.662% 4/25/51 # 		        445,500      399,703
Hardee's Funding
Series 2020-1A A2 144A 3.981% 12/20/50 # 		      2,172,500   2,055,270
Total Non-Agency Asset-Backed Securities (cost $3,503,037)   3,265,024
Non-Agency Collateralized Mortgage Obligations — 6.05%
JPMorgan Mortgage Trust
Series 2021-13 B1 144A 3.148% 4/25/52 #, • 		        593,788      506,654
Sequoia Mortgage Trust      
Series 2014-1 B3 144A 3.928% 4/25/44 #, •         803,256      801,427
Series 2017-5 B2 144A 3.792% 8/25/47 #, •       1,765,546    1,667,087
Series 2017-6 B2 144A 3.726% 9/25/47 #, •       1,765,457    1,653,221
Series 2017-7 B2 144A 3.728% 10/25/47 #, •       1,772,046   1,652,221
Total Non-Agency Collateralized Mortgage Obligations (cost $6,949,075)   6,280,610
Non-Agency Commercial Mortgage-Backed Securities — 1.77%
Benchmark Mortgage Trust
Series 2020-B22 A5 1.973% 1/15/54 		        500,000      425,934
COMM Mortgage Trust
Series 2013-CR6 AM 144A 3.147% 3/10/46 # 		        110,000      109,238
DB-JPM Mortgage Trust
Series 2020-C9 B 2.567% 8/15/53 		        500,000      423,837
GS Mortgage Securities Trust      
Series 2017-GS6 B 3.869% 5/10/50          500,000      480,071
Series 2018-GS9 B 4.321% 3/10/51 •         280,000      273,632
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2013-LC11 B 3.499% 4/15/46 		        130,000     128,088
Total Non-Agency Commercial Mortgage-Backed Securities (cost $2,119,458)   1,840,800
8    NQ-023 [4/22] 6/22 (2257044)
(Unaudited)
    Principal
amount° 		Value (US $)
Loan Agreements — 5.64%
Acrisure 1st Lien 5.014% (LIBOR01M + 4.25%) 2/15/27 •         199,500 $    198,669
Acrisure Tranche B 4.264% (LIBOR01M + 3.50%) 2/15/27 •         300,811      296,894
Applied Systems 2nd Lien 6.506% (LIBOR03M + 5.50%) 9/19/25 •       1,346,453    1,348,556
AssuredPartners 4.264% ((LIBOR01M + 3.50%)) 2/12/27 •         452,936      447,388
BWay Holding 3.705% (LIBOR01M + 3.25%) 4/3/24 •         167,618      164,737
Connect US Finco 4.50% (LIBOR01M + 3.50%) 12/11/26 •         279,300      277,962
Frontier Communications Tranche B 4.813% (LIBOR03M + 3.75%) 5/1/28 •         693,000      685,348
Global Medical Response 5.25% (LIBOR03M + 4.75%) 10/2/25 •         212,313      211,061
Hamilton Projects Acquiror 5.506% (LIBOR03M + 4.50%) 6/17/27 •         766,350      765,460
Spirit Aerosystems Tranche B 4.514% (LIBOR01M + 3.75%) 1/15/25 •         681,575      681,453
Ultimate Software Group 1st Lien 4.756% (LIBOR01M + 3.75%) 5/4/26 •         424,304      423,130
Verscend Holding Tranche B 4.764% ((LIBOR01M + 4.00%)) 8/27/25 •         350,087     349,813
Total Loan Agreements (cost $5,821,112)   5,850,471
Sovereign Bonds — 7.31%Δ
Brazil — 0.47%
Brazil Notas do Tesouro Nacional 10.00% 1/1/27  BRL       356,000       67,043
Brazilian Government International Bond 4.75% 1/14/50          550,000     417,004
      484,047
Chile — 0.35%
Bonos de la Tesoreria de la Republica en pesos      
  144A 2.30% 10/1/28 # CLP   290,000,000      262,275
  144A 2.80% 10/1/33 # CLP   130,000,000     106,068
      368,343
Czech Republic — 0.04%
Czech Republic Government Bond 2.40% 9/17/25  CZK     1,010,000      39,949
       39,949
NQ-023 [4/22] 6/22 (2257044)    9
Schedule of investments
Delaware Strategic Income Fund (Unaudited)
    Principal
amount° 		Value (US $)
Sovereign BondsΔ (continued)
Dominican Republic — 0.34%
Dominican Republic International Bond 144A 4.50% 1/30/30 #         414,000 $    358,397
      358,397
Egypt — 1.12%
Egypt Government International Bonds      
  144A 5.75% 5/29/24 #         723,000      676,634
  144A 7.60% 3/1/29 #         564,000     480,951
    1,157,585
Honduras — 0.73%
Honduras Government International Bond 144A 5.625% 6/24/30 #         959,000     759,049
      759,049
Hungary — 0.03%
Hungary Government Bond 5.50% 6/24/25  HUF    13,530,000      36,166
       36,166
Indonesia — 0.48%
Indonesia Treasury Bonds      
  6.125% 5/15/28  IDR 4,207,000,000      282,507
  6.50% 2/15/31  IDR 3,249,000,000     216,383
      498,890
Ivory Coast — 1.03%
Ivory Coast Government International Bond 144A 6.125% 6/15/33 #       1,164,000   1,072,847
    1,072,847
Mexico — 0.11%
Mexican Bonos 8.50% 5/31/29  MXN     2,300,000     109,424
      109,424
Mongolia — 0.50%
Mongolia Government International Bond 144A 3.50% 7/7/27 #         602,000     523,818
      523,818
Peru — 0.33%
Peruvian Government International Bond 144A 5.35% 8/12/40 # PEN     1,794,000     340,778
      340,778
10    NQ-023 [4/22] 6/22 (2257044)
(Unaudited)
    Principal
amount° 		Value (US $)
Sovereign BondsΔ (continued)
Poland — 0.04%
Republic of Poland Government Bond 2.50% 4/25/24  PLN       186,000 $     38,900
       38,900
Senegal — 0.59%
Senegal Government International Bond 144A 6.75% 3/13/48 #         764,000     611,047
      611,047
Uruguay — 0.33%
Uruguay Government International Bond 8.50% 3/15/28  UYU    14,734,000     338,669
      338,669
Uzbekistan — 0.82%
Republic of Uzbekistan International Bond 144A 4.75% 2/20/24 #         862,000     849,354
      849,354
Total Sovereign Bonds (cost $8,761,099)   7,587,263
Supranational Banks — 0.77%
Banque Ouest Africaine de Developpement
144A 4.70% 10/22/31 # 		        804,000     797,455
Total Supranational Banks (cost $835,408)     797,455
US Treasury Obligations — 5.58%
US Treasury Bonds      
2.25% 3/31/24       3,500,000    3,470,742
2.50% 3/31/27         370,000      362,614
US Treasury Note
2.25% 5/15/22 		      1,950,000   1,951,248
Total US Treasury Obligations (cost $5,807,683)   5,784,604
    Number of
shares 		 
Common Stock — 0.79%
Transportation — 0.79%
Aeromexico Rights †          49,917     815,893
Total Common Stock (cost $815,913)     815,893
NQ-023 [4/22] 6/22 (2257044)    11
Schedule of investments
Delaware Strategic Income Fund (Unaudited)
    Number of
contracts 		Value (US $)
Options Purchased — 0.02%
Foreign Currency Put Options — 0.02%
AUD vs JPY, strike price $78, expiration date
8/23/22, notional amount $251,160,000 (JPMCB) 		      3,220,000 $     10,163
GBP vs JPY, strike price $148, expiration date
8/23/22, notional amount $286,380,000 (JPMCB) 		      1,935,000      15,462
Total Options Purchased (cost $63,238)      25,625
    Number of
shares 		 
Short-Term Investments — 3.50%
Money Market Mutual Funds — 3.50%
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.31%)         907,401     907,401
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.16%)         907,401     907,401
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.32%)         907,401     907,401
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.30%)         907,401     907,401
Total Short-Term Investments (cost $3,629,604)   3,629,604
Total Value of Securities Before
Options Written—99.35%
(cost $111,324,475) 		103,085,790
12    NQ-023 [4/22] 6/22 (2257044)
(Unaudited)
    Number of
contracts 		Value (US $)
Options Written — (0.01%)
Foreign Currency Put Options — (0.01%)
AUD vs JPY, strike price $72, expiration date
8/23/22, notional amount $(231,840,000) (JPMCB) 		     (3,220,000) $     (4,737)
GBP vs JPY, strike price $140, expiration date
8/23/22, notional amount $(270,900,000) (JPMCB) 		     (1,935,000)      (7,277)
Total Options Written (premium received $23,310)     $(12,014)
Receivables and Other Assets Net of Liabilities—0.66%         687,751
Net Assets Applicable to 13,482,973 Shares Outstanding—100.00%     $103,761,527
° Principal amount shown is stated in USD unless noted that the security is denominated in another currency.
# Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At April 30, 2022, the aggregate value of Rule 144A securities was $61,700,604, which represents 59.46% of the Fund's net assets.
• Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at April 30, 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.
μ Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at April 30, 2022. Rate will reset at a future date.
ψ Perpetual security. Maturity date represents next call date.
^ Zero-coupon security. The rate shown is the effective yield at the time of purchase.
Δ Securities have been classified by country of risk.
† Non-income producing security.
NQ-023 [4/22] 6/22 (2257044)    13
Schedule of investments
Delaware Strategic Income Fund (Unaudited)
The following foreign currency exchange contracts and futures contracts were outstanding at April 30, 2022:
Foreign Currency Exchange Contracts        
Counterparty   Currency to
Receive (Deliver) 		  In Exchange For   Settlement
Date 		  Unrealized
Appreciation
JPMCB   EUR (300,000)   USD 340,077   5/20/22   $23,307
TD   EUR (3,332,247)   USD 3,777,386   5/20/22   258,870
Total Foreign Currency Exchange Contracts   $282,177
Futures Contracts
Exchange-Traded
Contracts to Buy (Sell)   Notional
Amount 		  Notional
Cost
(Proceeds) 		  Expiration
Date 		  Value/
Unrealized
Appreciation 		  Value/
Unrealized
Depreciation 		  Variation
Margin
Due from
(Due to)
Brokers
(37) US Treasury 10 yr Notes   $(4,408,781)   $(4,676,940)   6/21/22   $268,159   $—   $7,516
2 US Treasury 10 yr Ultra Notes   258,000   279,802   6/21/22   —   (21,802)   (500)
Total Futures Contracts   $(4,397,138)       $268,159   $(21,802)   $7,016
The use of foreign currency exchange contracts and futures contracts involves elements of market risk and risks in excess of the amounts disclosed in these financial statements. The foreign currency exchange contracts and notional amounts presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) and variation margin are reflected in the Fund’s net assets.
Summary of abbreviations:
DAC – Designated Activity Company
FREMF – Freddie Mac Multifamily
GS – Goldman Sachs
ICE – Intercontinental Exchange, Inc.
JPM – JPMorgan
JPMCB – JPMorgan Chase Bank
LIBOR – London Interbank Offered Rate
14    NQ-023 [4/22] 6/22 (2257044)
(Unaudited)
Summary of abbreviations: (continued)
LIBOR01M – ICE LIBOR USD 1 Month
LIBOR03M – ICE LIBOR USD 3 Month
LIBOR06M – ICE LIBOR USD 6 Month
REMIC – Real Estate Mortgage Investment Conduit
SOFR – Secured Overnight Financing Rate
TD – TD Bank
yr – Year
Summary of currencies:
AUD – Australian Dollar
BRL – Brazilian Real
CLP – Chilean Peso
CZK – Czech Koruna
EUR – European Monetary Unit
GBP – British Pound Sterling
HUF – Hungarian Forint
IDR – Indonesian Rupiah
MXN – Mexican Peso
PEN – Peruvian Sol
PLN – Polish Zloty
USD – US Dollar
UYU – Uruguayan Peso
NQ-023 [4/22] 6/22 (2257044)    15