NPORT-EX 2 AFIG0DelawareInvGradeFd.htm fig0_del-igf.htm - Generated by SEC Publisher for SEC Filing

Schedule of investments

Delaware Investment Grade Fund June 30, 2020 (Unaudited)

    Principal amount°    Value (US $) 
Convertible Bonds – 0.38%        
  Cheniere Energy 144A PIK 4.875% exercise price $93.64,        
expiration date 5/28/21 # ❆   1,020,000  $  1,034,994 
  PDC Energy 1.125% exercise price $85.39, expiration date        
     9/15/21   70,000    65,169 
Total Convertible Bonds (cost $1,087,836)       1,100,163 
 
Corporate Bonds – 97.71%        
Banking - 19.13%        
   Bank of America 2.676% 6/19/41 µ   2,915,000    3,004,981 
   Bank of New York Mellon 4.70% µy   715,000    745,387 
Bank of Nova Scotia 4.90% µy   655,000    655,409 
Barclays 5.20% 5/12/26   2,748,000    3,072,800 
BBVA USA        
     2.875% 6/29/22   1,095,000    1,121,109 
     3.875% 4/10/25   1,290,000    1,363,642 
Citigroup        
     3.106% 4/8/26 µ   2,050,000    2,201,831 
     4.044% 6/1/24 µ   1,535,000    1,667,336 
Citizens Financial Group        
     2.85% 7/27/26   3,215,000    3,483,999 
     5.65% µy  810,000    823,163 
   Credit Agricole 144A 1.907% 6/16/26 #µ   910,000    923,600 
   Credit Suisse Group        
     144A 2.593% 9/11/25 #µ   2,930,000    3,031,947 
     144A 5.10% #µy   1,010,000    958,237 
     144A 6.375% #µy   1,195,000    1,214,520 
   Goldman Sachs Group 3.50% 4/1/25   1,585,000    1,739,848 
JPMorgan Chase & Co.        
     2.956% 5/13/31 µ   260,000    277,072 
     3.109% 4/22/41 µ   515,000    556,462 
     3.109% 4/22/51 µ   590,000    638,124 
     4.023% 12/5/24 µ   2,535,000    2,794,653 
     5.00% µy  152,000    146,327 
   Morgan Stanley        
     1.668% (LIBOR03M + 1.22%) 5/8/24 •   1,135,000    1,143,705 
     5.00% 11/24/25   1,715,000    2,005,545 
   PNC Bank 4.05% 7/26/28   1,010,000    1,184,621 
PNC Financial Services Group 2.60% 7/23/26   1,570,000    1,704,755 
Regions Financial 3.80% 8/14/23   1,095,000    1,191,475 
Royal Bank of Scotland Group        
     2.359% 5/22/24 µ   780,000    801,341 
     3.754% 11/1/29 µ   705,000    730,977 
     8.625% µy  1,180,000    1,229,525 

 

NQ-Q3V [6/20] 8/20 (1294169) 1

 

Schedule of investments

Delaware Investment Grade Fund (Unaudited)

  Principal amount°    Value (US $) 
Corporate Bonds (continued)       
Banking (continued)       
Santander UK 144A 5.00% 11/7/23 #  345,000  $  376,978 
SVB Financial Group 3.125% 6/5/30  805,000    863,857 
Truist Bank       
2.25% 3/11/30  1,080,000    1,092,112 
2.636% 9/17/29 µ  4,010,000    4,025,612 
Truist Financial 4.95% µy  860,000    881,500 
UBS 7.625% 8/17/22  1,125,000    1,255,164 
UBS Group 6.875% µy  1,335,000    1,354,604 
US Bancorp 3.00% 7/30/29  4,385,000    4,764,914 
      55,027,132 
Basic Industry - 4.40%       
BHP Billiton Finance USA 144A 6.25% 10/19/75 #µ  3,090,000    3,110,688 
Chevron Phillips Chemical 144A 5.125% 4/1/25 #  445,000    510,593 
DuPont de Nemours 2.169% 5/1/23  1,085,000    1,105,798 
Freeport-McMoRan 3.875% 3/15/23  715,000    717,359 
Georgia-Pacific       
144A 1.75% 9/30/25 #  710,000    733,000 
144A 2.10% 4/30/27 #  565,000    587,188 
LYB International Finance III 2.875% 5/1/25  545,000    581,024 
Newmont       
2.25% 10/1/30  570,000    578,816 
2.80% 10/1/29  2,750,000    2,905,321 
Nutrien 2.95% 5/13/30  840,000    891,978 
Steel Dynamics       
2.40% 6/15/25  295,000    304,180 
2.80% 12/15/24  510,000    531,419 
WR Grace & Co. 144A 4.875% 6/15/27 #  115,000    117,073 
      12,674,437 
Brokerage - 1.15%       
Charles Schwab 5.375% µy  915,000    979,800 
Jefferies Group       
4.15% 1/23/30  580,000    630,186 
6.50% 1/20/43  515,000    599,821 
National Securities Clearing 144A 1.20% 4/23/23 #  1,075,000    1,092,035 
      3,301,842 
Capital Goods - 4.23%       
Amphenol 2.05% 3/1/25  3,205,000    3,348,897 
Berry Global 144A 4.875% 7/15/26 #  335,000    340,375 
CCL Industries 144A 3.05% 6/1/30 #  590,000    604,841 
General Electric 3.625% 5/1/30  1,690,000    1,694,989 
GFL Environmental 144A 5.125% 12/15/26 #  475,000    492,813 

 

2 NQ-Q3V [6/20] 8/20 (1294169)

 

(Unaudited)

  Principal amount°    Value (US $) 
Corporate Bonds (continued)       
Capital Goods (continued)       
Otis Worldwide       
144A 2.056% 4/5/25 #  700,000  $  734,405 
144A 3.112% 2/15/40 #  720,000    740,882 
Raytheon Technologies 3.65% 8/16/23  83,000    89,900 
Roper Technologies 2.35% 9/15/24  2,575,000    2,715,541 
Waste Connections 2.60% 2/1/30  1,345,000    1,421,793 
      12,184,436 
Communications - 16.26%       
AMC Networks 4.75% 8/1/25  875,000    861,092 
American Tower 3.375% 5/15/24  2,435,000    2,645,458 
AT&T       
2.30% 6/1/27  630,000    651,462 
3.50% 6/1/41  505,000    532,293 
3.65% 6/1/51  340,000    356,335 
4.35% 3/1/29  782,000    912,245 
4.50% 3/9/48  575,000    675,853 
4.90% 8/15/37  795,000    954,551 
Charter Communications Operating 3.70% 4/1/51  1,220,000    1,193,228 
Comcast       
3.20% 7/15/36  2,280,000    2,540,641 
3.75% 4/1/40  640,000    755,481 
Crown Castle International 5.25% 1/15/23  1,635,000    1,820,018 
CSC Holdings 144A 4.125% 12/1/30 #  1,140,000    1,131,518 
Deutsche Telekom 144A 3.625% 1/21/50 #  1,345,000    1,494,113 
Discovery Communications       
4.125% 5/15/29  1,750,000    1,999,164 
5.00% 9/20/37  1,390,000    1,646,650 
5.20% 9/20/47  30,000    34,943 
Level 3 Financing 144A 4.25% 7/1/28 #  800,000    802,944 
Telefonica Emisiones 5.52% 3/1/49  2,080,000    2,738,826 
Time Warner Cable 7.30% 7/1/38  1,825,000    2,532,631 
Time Warner Entertainment 8.375% 3/15/23  1,650,000    1,934,923 
T-Mobile USA       
144A 1.50% 2/15/26 #  605,000    606,470 
144A 2.55% 2/15/31 #  1,885,000    1,896,348 
144A 3.75% 4/15/27 #  700,000    777,525 
144A 4.375% 4/15/40 #  955,000    1,108,846 
Verizon Communications       
3.15% 3/22/30  370,000    419,088 
4.00% 3/22/50  255,000    322,516 
4.50% 8/10/33  4,290,000    5,347,765 

 

NQ-Q3V [6/20] 8/20 (1294169) 3

 

Schedule of investments

Delaware Investment Grade Fund (Unaudited)

  Principal amount°    Value (US $) 
Corporate Bonds (continued)       
Communications (continued)       
ViacomCBS       
4.375% 3/15/43  2,815,000  $  2,946,914 
4.95% 1/15/31  605,000    708,953 
Virgin Media Secured Finance 144A 5.50% 5/15/29 #  823,000    868,837 
Vodafone Group       
4.25% 9/17/50  695,000    817,932 
4.875% 6/19/49  2,185,000    2,749,394 
      46,784,957 
Consumer Cyclical - 4.00%       
Amazon. com 2.50% 6/3/50  1,780,000    1,809,642 
Dollar Tree 4.00% 5/15/25  1,450,000    1,633,807 
Ford Motor 8.50% 4/21/23  1,225,000    1,297,734 
General Motors       
5.40% 10/2/23  515,000    558,305 
6.125% 10/1/25  515,000    579,407 
6.25% 10/2/43  734,000    780,746 
General Motors Financial 5.20% 3/20/23  970,000    1,038,510 
Home Depot 2.70% 4/15/30  75,000    82,512 
Magna International 2.45% 6/15/30  785,000    804,449 
Ralph Lauren 1.70% 6/15/22  735,000    748,022 
TJX       
3.875% 4/15/30  715,000    841,770 
4.50% 4/15/50  385,000    494,466 
VF 2.40% 4/23/25  810,000    853,667 
      11,523,037 
Consumer Non-Cyclical - 8.37%       
AbbVie       
144A 2.60% 11/21/24 #  945,000    1,006,928 
144A 2.95% 11/21/26 #  2,070,000    2,266,969 
144A 4.05% 11/21/39 #  1,180,000    1,370,439 
Anheuser-Busch InBev Worldwide 4.15% 1/23/25  1,145,000    1,300,058 
Biogen       
2.25% 5/1/30  1,400,000    1,415,843 
3.15% 5/1/50  1,455,000    1,407,521 
Cigna 3.20% 3/15/40  530,000    563,278 
CVS Health       
3.25% 8/15/29  725,000    802,415 
4.78% 3/25/38  1,875,000    2,332,073 
Diageo Capital 1.375% 9/29/25  1,075,000    1,094,479 
General Mills 2.875% 4/15/30  765,000    833,435 
HCA 3.50% 9/1/30  740,000    713,477 
Lamb Weston Holdings 144A 4.625% 11/1/24 #  117,000    121,692 

 

4 NQ-Q3V [6/20] 8/20 (1294169)

 

(Unaudited)

    Principal amount°    Value (US $) 
Corporate Bonds (continued)        
Consumer Non-Cyclical (continued)        
   Mondelez International 1.50% 5/4/25   805,000  $  821,349 
   Perrigo Finance Unlimited 4.375% 3/15/26   1,600,000    1,747,429 
Pfizer 2.55% 5/28/40   640,000    665,759 
Stryker 1.95% 6/15/30   1,180,000    1,186,537 
Takeda Pharmaceutical        
     2.05% 3/31/30   440,000    436,464 
     3.025% 7/9/40   725,000    733,214 
     3.175% 7/9/50   725,000    731,301 
Teleflex 144A 4.25% 6/1/28 #   705,000    723,947 
   Upjohn        
     144A 1.65% 6/22/25 #   240,000    244,956 
     144A 2.30% 6/22/27 #   480,000    496,317 
     144A 2.70% 6/22/30 #   700,000    720,724 
     144A 4.00% 6/22/50 #   335,000    360,149 
        24,096,753 
Electric - 12.17%        
   Appalachian Power 3.70% 5/1/50   185,000    203,761 
   CenterPoint Energy 2.95% 3/1/30   960,000    1,021,639 
CMS Energy 4.75% 6/1/50 µ   940,000    960,309 
Dominion Energy 4.65% µy   1,835,000    1,798,451 
   Duke Energy 4.875% µy   1,335,000    1,335,289 
   Duke Energy Ohio 2.125% 6/1/30   610,000    632,506 
Edison International        
     3.125% 11/15/22   985,000    1,015,236 
     4.95% 4/15/25   650,000    715,484 
   Emera 6.75% 6/15/76 µ   1,390,000    1,505,724 
   Entergy Arkansas 4.20% 4/1/49   1,940,000    2,455,022 
   Entergy Louisiana 2.90% 3/15/51   815,000    837,766 
   Entergy Mississippi 3.85% 6/1/49   280,000    335,232 
Entergy Texas 3.55% 9/30/49   665,000    735,446 
   Evergy Kansas Central 3.45% 4/15/50   1,260,000    1,401,243 
   FirstEnergy Transmission 144A 4.55% 4/1/49 #   1,445,000    1,758,061 
Idaho Power 4.20% 3/1/48   595,000    747,735 
   Interstate Power and Light 4.10% 9/26/28   645,000    747,948 
   IPALCO Enterprises 144A 4.25% 5/1/30 #   730,000    793,877 
   ITC Holdings 144A 2.95% 5/14/30 #   655,000    696,559 
   Louisville Gas and Electric 4.25% 4/1/49   1,985,000    2,418,908 
   National Rural Utilities Cooperative Finance 5.25%        
     4/20/46 µ  480,000    510,309 
NRG Energy        
     144A 3.75% 6/15/24 #   650,000    687,453 
     144A 4.45% 6/15/29 #   1,040,000    1,096,629 

 

NQ-Q3V [6/20] 8/20 (1294169) 5

 

Schedule of investments

Delaware Investment Grade Fund (Unaudited)

    Principal amount°    Value (US $) 
Corporate Bonds (continued)        
Electric (continued)        
Pacific Gas and Electric        
     2.10% 8/1/27   370,000  $  366,326 
     2.50% 2/1/31   545,000    534,155 
     3.30% 8/1/40   230,000    224,377 
     4.60% 6/15/43   435,000    492,331 
   PacifiCorp 2.70% 9/15/30   220,000    240,562 
   Public Service Co. of Colorado 2.70% 1/15/51   550,000    564,550 
   San Diego Gas & Electric 3.32% 4/15/50   595,000    649,418 
Southern California Edison        
     3.65% 2/1/50   750,000    827,635 
     4.875% 3/1/49   1,160,000    1,502,451 
   Southwestern Electric Power 4.10% 9/15/28   1,780,000    2,025,166 
   Vistra Operations        
     144A 3.55% 7/15/24 #   1,660,000    1,714,332 
     144A 3.70% 1/30/27 #   695,000    715,993 
     144A 4.30% 7/15/29 #   290,000    305,088 
Xcel Energy 2.60% 12/1/29   410,000    441,582 
        35,014,553 
Energy - 9.93%        
   BP Capital Markets 4.875% µy   1,110,000    1,148,850 
   Canadian Natural Resources 2.05% 7/15/25   1,445,000    1,449,583 
   Cheniere Corpus Christi Holdings 7.00% 6/30/24   1,545,000    1,759,572 
   Continental Resources 5.00% 9/15/22   1,629,000    1,605,485 
Energy Transfer Operating        
     6.25% 4/15/49   1,565,000    1,660,796 
     7.125% µy  1,630,000    1,395,687 
   Florida Gas Transmission 144A 2.55% 7/1/30 #   600,000    614,332 
   Magellan Midstream Partners 5.00% 3/1/26   2,395,000    2,760,687 
Marathon Oil 4.40% 7/15/27   2,000,000    1,963,956 
   MPLX        
     4.125% 3/1/27   3,340,000    3,566,210 
     5.50% 2/15/49   745,000    846,579 
   Noble Energy 4.20% 10/15/49   1,565,000    1,300,569 
   NuStar Logistics 5.625% 4/28/27   859,000    832,255 
   ONEOK 7.50% 9/1/23   1,640,000    1,878,001 
   Sabine Pass Liquefaction 5.75% 5/15/24   1,815,000    2,044,975 
   Schlumberger Investment 2.65% 6/26/30   1,380,000    1,416,030 
   Targa Resources Partners 5.875% 4/15/26   854,000    847,458 
   Total Capital International 2.986% 6/29/41   1,440,000    1,470,951 
        28,561,976 

 

6 NQ-Q3V [6/20] 8/20 (1294169)

 

(Unaudited)

  Principal amount°    Value (US $) 
Corporate Bonds (continued)       
Finance Companies - 2.89%       
AerCap Ireland Capital DAC       
3.65% 7/21/27  500,000  $  442,619 
4.50% 9/15/23  1,080,000    1,080,924 
6.50% 7/15/25  450,000    471,932 
Air Lease       
3.00% 2/1/30  1,545,000    1,434,649 
3.375% 7/1/25  500,000    500,442 
Aviation Capital Group 144A 3.50% 11/1/27 #  2,700,000    2,226,863 
Avolon Holdings Funding       
144A 3.25% 2/15/27 #  435,000    352,311 
144A 3.95% 7/1/24 #  1,075,000    941,351 
GE Capital Funding 144A 3.45% 5/15/25 #  460,000    482,258 
USAA Capital 144A 2.125% 5/1/30 #  360,000    371,126 
      8,304,475 
Insurance - 1.54%       
Aon 2.80% 5/15/30  298,000    319,219 
Brighthouse Financial       
4.70% 6/22/47  1,965,000    1,800,607 
5.625% 5/15/30  640,000    710,464 
Centene       
3.375% 2/15/30  915,000    925,317 
4.625% 12/15/29  640,000    679,213 
      4,434,820 
Natural Gas - 0.28%       
Sempra Energy 4.875% µy  790,000    791,975 
      791,975 
Real Estate Investment Trusts - 1.16%       
CubeSmart 3.00% 2/15/30  2,050,000    2,178,568 
Regency Centers 3.70% 6/15/30  1,075,000    1,157,927 
      3,336,495 
Technology - 9.75%       
Broadcom       
144A 3.15% 11/15/25 #  640,000    680,320 
144A 4.15% 11/15/30 #  543,000    592,039 
144A 4.70% 4/15/25 #  171,000    192,731 
144A 5.00% 4/15/30 #  605,000    696,560 
Citrix Systems 3.30% 3/1/30  1,335,000    1,429,670 
CoStar Group 144A 2.80% 7/15/30 #  865,000    886,886 
Fiserv       
2.65% 6/1/30  870,000    919,771 
3.20% 7/1/26  1,825,000    2,021,552 
Global Payments 2.65% 2/15/25  3,005,000    3,193,413 

 

NQ-Q3V [6/20] 8/20 (1294169) 7

 

Schedule of investments

Delaware Investment Grade Fund (Unaudited)

  Principal amount°    Value (US $) 
Corporate Bonds (continued)       
Technology (continued)       
HP       
2.20% 6/17/25  1,050,000  $  1,086,347 
3.00% 6/17/27  785,000    824,080 
Iron Mountain 144A 5.25% 7/15/30 #  877,000    861,499 
KLA 3.30% 3/1/50  2,980,000    3,080,378 
Lam Research       
1.90% 6/15/30  225,000    230,231 
2.875% 6/15/50  1,015,000    1,052,020 
Leidos 144A 3.625% 5/15/25 #  550,000    601,769 
Microchip Technology       
3.922% 6/1/21  435,000    443,577 
4.333% 6/1/23  3,110,000    3,357,643 
NXP       
144A 2.70% 5/1/25 #  140,000    147,293 
144A 3.40% 5/1/30 #  270,000    291,131 
144A 4.125% 6/1/21 #  630,000    648,942 
144A 4.30% 6/18/29 #  241,000    273,897 
Oracle 2.95% 4/1/30  1,020,000    1,138,701 
PayPal Holdings       
1.65% 6/1/25  930,000    963,757 
2.30% 6/1/30  895,000    932,097 
SS&C Technologies 144A 5.50% 9/30/27 #  836,000    855,182 
Xilinx 2.375% 6/1/30  620,000    640,036 
      28,041,522 
Transportation - 1.62%       
Delta Air Lines 7.375% 1/15/26  690,000    668,248 
Southwest Airlines 5.125% 6/15/27  1,005,000    1,043,415 
Union Pacific       
2.40% 2/5/30  1,100,000    1,178,204 
3.25% 2/5/50  1,610,000    1,769,177 
      4,659,044 
Utilities - 0.83%       
Essential Utilities       
2.704% 4/15/30  535,000    560,408 
3.351% 4/15/50  520,000    544,397 
4.276% 5/1/49  1,075,000    1,289,855 
      2,394,660 
 
Total Corporate Bonds (cost $273,195,264)      281,132,114 

 

8 NQ-Q3V [6/20] 8/20 (1294169)

 

(Unaudited)

  Principal amount°    Value (US $) 
Loan Agreements – 0.27%       
Zayo Group Holdings 3.178% (LIBOR01M + 3.00%)       
3/9/27 •  812,963  $  773,204 
Total Loan Agreements (cost $811,006)      773,204 
  Number of shares     
Preferred Stock – 0.61%       
Morgan Stanley 5.55% µ  1,905,000    1,751,080 
Total Preferred Stock (cost $1,933,575)      1,751,080 
 
Short-Term Investments – 1.60%       
Money Market Mutual Funds - 1.60%       
BlackRock FedFund – Institutional Shares (seven-day       
effective yield 0.10%)  921,749    921,749 
Fidelity Investments Money Market Government       
Portfolio – Class I (seven-day effective yield 0.06%)  921,749    921,749 
GS Financial Square Government Fund – Institutional       
Shares (seven-day effective yield 0.15%)  921,748    921,748 
Morgan Stanley Government Portfolio – Institutional Share       
Class (seven-day effective yield 0.03%)  921,748    921,748 
State Street Institutional US Government Money Market       
Fund – Investor Class (seven-day effective yield 0.04%)  921,748    921,748 
Total Short-Term Investments (cost $4,608,742)      4,608,742 
 
Total Value of Securities – 100.57%       
(cost $281,636,423)      289,365,303 
 
Liabilities Net of Receivables and Other Assets – (0.57%) ★     (1,648,474) 
Net Assets Applicable to 29,048,444 Shares Outstanding – 100.00%    $  287,716,829 

 

#  Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. 
  At June 30, 2020, the aggregate value of Rule 144A securities was $52,087,373, which represents 
  18.10% of the Fund’s net assets. 
❆   PIK. 100% of the income received was in the form of cash. 
★   Includes $196,350 cash collateral held at broker for futures contracts as of June 30, 2020. 
°  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 June 30, 2020. 
  Rate will reset at a future date. 
y    No contractual maturity date. 
•  Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at 
  June 30, 2020. For securities based on a published reference rate and spread, the reference rate and 
  spread are indicated in their description above. The reference rate descriptions (i. e. LIBOR03M, 

 

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Schedule of investments

Delaware Investment Grade Fund (Unaudited)

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 description above.

The following futures contracts were outstanding at June 30, 2020:

Futures Contracts

                  Variation  
                  Margin  
        Notional      Value/    Due from  
    Notional    Cost  Expiration    Unrealized    (Due to)  
Contracts to Buy (Sell)    Amount    (Proceeds)  Date    Appreciation    Brokers  
US Treasury 10                     
105 yr Notes  $ 14,613,047  $ 14,583,775  9/21/20  $ 29,272  $  (16,406 ) 

 

The use of futures contracts involves elements of market risk and risks in excess of the amounts
disclosed in the financial statements. The notional amount presented above represents the Fund’s total
exposure in such contracts, whereas only the variation margin is reflected in the Fund’s net assets.

Summary of abbreviations:
GS – Goldman Sachs
ICE – Intercontinental Exchange
LIBOR – London interbank offered rate
LIBOR01M – ICE LIBOR USD 1 Month
LIBOR03M – ICE LIBOR USD 3 Month
LIBOR06M – ICE LIBOR USD 6 Month
PIK – Pay-in-Kind
USD – US Dollar
yr – Year

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