Schedule of investments
Delaware Global Equity Fund
December 31, 2021 (Unaudited)
Number of shares | Value (US $) | ||
Common Stock – 98.82%Δ | |||
Denmark − 2.98% | |||
Novo Nordisk Class B | 62,430 | $ 7,012,504 | |
7,012,504 | |||
France − 13.28% | |||
Air Liquide | 49,670 | 8,670,138 | |
Danone | 125,260 | 7,784,999 | |
Orange | 494,710 | 5,301,659 | |
Publicis Groupe | 34,530 | 2,327,294 | |
Sodexo | 81,930 | 7,187,949 | |
31,272,039 | |||
Germany − 10.87% | |||
adidas AG | 23,630 | 6,804,149 | |
Fresenius Medical Care AG & Co. | 125,240 | 8,119,086 | |
Knorr-Bremse | 35,990 | 3,554,536 | |
SAP | 50,500 | 7,107,347 | |
25,585,118 | |||
Japan − 7.04% | |||
Asahi Group Holdings | 91,000 | 3,542,520 | |
Kao | 93,300 | 4,886,526 | |
Lawson | 69,300 | 3,288,242 | |
Seven & i Holdings | 110,400 | 4,856,278 | |
16,573,566 | |||
Netherlands − 3.33% | |||
Koninklijke Ahold Delhaize | 228,740 | 7,847,771 | |
7,847,771 | |||
Spain − 3.93% | |||
Amadeus IT Group † | 136,610 | 9,243,614 | |
9,243,614 | |||
Sweden − 6.80% | |||
Essity Class B | 170,900 | 5,575,579 | |
H & M Hennes & Mauritz Class B | 185,715 | 3,644,120 | |
Securitas Class B | 494,310 | 6,799,959 | |
16,019,658 | |||
Switzerland − 9.61% | |||
Nestle | 70,820 | 9,887,699 | |
Roche Holding | 15,690 | 6,509,173 | |
Swatch Group | 20,450 | 6,227,761 | |
22,624,633 | |||
United Kingdom − 9.24% | |||
Diageo | 181,710 | 9,926,686 | |
Intertek Group | 30,720 | 2,341,014 | |
Smith & Nephew | 541,670 | 9,483,650 | |
21,751,350 | |||
United States − 31.74% | |||
3M | 33,100 | 5,879,553 |
Number of shares | Value (US $) | ||
Common StockΔ (continued) | |||
United States (continued) | |||
Clorox | 27,600 | $ 4,812,336 | |
Conagra Brands | 158,690 | 5,419,264 | |
General Mills | 100,270 | 6,756,193 | |
Henry Schein † | 94,570 | 7,332,012 | |
Ingredion | 66,610 | 6,437,190 | |
Kimberly-Clark | 57,140 | 8,166,449 | |
Lamb Weston Holdings | 162,990 | 10,330,306 | |
Merck & Co. | 98,820 | 7,573,565 | |
Parker-Hannifin | 8,370 | 2,662,664 | |
Pfizer | 158,470 | 9,357,653 | |
74,727,185 | |||
Total Common Stock (cost $214,743,810) | 232,657,438 | ||
Exchange-Traded Fund – 0.43% | |||
Vanguard S&P 500 ETF | 2,330 | 1,017,208 | |
Total Exchange-Traded Fund (cost $1,005,355) | 1,017,208 | ||
Short-Term Investments – 0.11% | |||
Money Market Mutual Funds – 0.11% | |||
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.03%) | 63,902 | 63,902 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.01%) | 63,902 | 63,902 | |
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.02%) | 63,902 | 63,902 | |
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.03%) | 63,902 | 63,902 | |
Total Short-Term Investments (cost $255,608) | 255,608 | ||
Total Value of Securities−99.36% (cost $216,004,773) | 233,930,254 | ||
Receivables and Other Assets Net of Liabilities — 0.64% | 1,495,280 |
Net Assets Applicable to 36,330,564 Shares Outstanding — 100.00% | $235,425,534 |
Δ | Securities have been classified by country of risk. |
† | Non-income producing security. |
NQ-QNV [12/21] 2/22 (2025800) 1
Schedule of investments
Delaware Global Equity Fund (Unaudited)
The following foreign currency exchange contracts were outstanding at December 31, 2021:
Foreign Currency Exchange Contracts | ||||||||||
Counterparty | Currency to Receive (Deliver) | In Exchange For | Settlement Date | Unrealized Depreciation | ||||||
BNYM | JPY | (10,834,180) | USD | 94,034 | 1/5/22 | $(155) | ||||
BNYM | SEK | (1,033,528) | USD | 113,867 | 1/4/22 | (512) | ||||
Total Foreign Currency Exchange Contracts | $(667) |
The use of foreign currency exchange contracts involves elements of market risk and risks in excess of the amounts disclosed in the financial statements. The foreign currency exchange contracts presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.
Summary of abbreviations: |
AG – Aktiengesellschaft |
BNYM – Bank of New York Mellon |
ETF – Exchange-Traded Fund |
GS – Goldman Sachs |
S&P – Standard & Poor’s Financial Services LLC |
Summary of currencies: |
JPY – Japanese Yen |
SEK – Swedish Krona |
USD – US Dollar |
2 NQ-QNV [12/21] 2/22 (2025800)