1 |
Wilmington Diversified Income Fund
PORTFOLIO OF INVESTMENTS
July 31, 2021 (unaudited)
Description | Par Value | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS – 0.2% |
| |||||||
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.2% |
| |||||||
Series 2012-114, Class VM, | $ | 73,515 | $ | 74,976 | ||||
WHOLE LOAN – 0.0%** | ||||||||
Banc of America Mortgage Securities, Inc., Series 2004-A, Class 2A1, 2.46%, 02/25/34D | 7,046 | 6,753 | ||||||
IndyMac INDA Mortgage Loan | 1,136 | 1,091 | ||||||
|
| |||||||
TOTAL WHOLE LOAN | $ | 7,844 | ||||||
|
| |||||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (COST $90,299) |
| $ | 82,820 | |||||
CORPORATE BONDS – 9.8% |
| |||||||
AEROSPACE & DEFENSE – 0.4% |
| |||||||
Boeing Co. (The), Sr. Unsecured | 50,000 | 50,139 | ||||||
2.75%, 02/01/26 | 45,000 | 47,094 | ||||||
L3Harris Technologies, Inc., Sr. Unsecured, | 15,000 | 16,132 | ||||||
Raytheon Technologies Corp., Sr. Unsecured, | 25,000 | 27,828 | ||||||
|
| |||||||
TOTAL AEROSPACE & DEFENSE |
| $ | 141,193 | |||||
AUTOMOTIVE – 0.2% | ||||||||
PACCAR Financial Corp., Sr. Unsecured, MTN, | 55,000 | 56,057 | ||||||
BEVERAGES – 0.1% | ||||||||
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, | 20,000 | 25,732 | ||||||
Keurig Dr. Pepper, Inc., Company Guaranteed, | 15,000 | 16,509 | ||||||
|
| |||||||
TOTAL BEVERAGES | $ | 42,241 | ||||||
BIOTECHNOLOGY – 0.1% | ||||||||
Amgen, Inc., Sr. Unsecured, | 25,000 | 31,059 | ||||||
CAPITAL MARKETS – 0.8% | ||||||||
Goldman Sachs Group, Inc. (The), Sr. Unsecured | ||||||||
(3 Month USD LIBOR + 1.20%), | 55,000 | 58,990 | ||||||
(3 Month USD LIBOR + 1.51%), | 35,000 | 39,012 | ||||||
Goldman Sachs Group, Inc. (The), Sr. Unsecured, MTN, (SOFR + 1.25%), | 15,000 | 15,286 | ||||||
JPMorgan Chase & Co., Sr. Unsecured, (SOFR + 2.04%), | 50,000 | 52,039 | ||||||
Morgan Stanley, Sr. Unsecured, MTN, (SOFR + 3.12%), | 70,000 | 78,816 |
Description | Par Value | Value | ||||||
Morgan Stanley, Subordinated, GMTN, | $ | 10,000 | $ | 11,410 | ||||
TD Ameritrade Holding Corp., Sr. Unsecured, | 18,000 | 18,247 | ||||||
U.S. Bancorp, Series V, Sr. Unsecured, | 45,000 | 45,450 | ||||||
|
| |||||||
TOTAL CAPITAL MARKETS | $ | 319,250 | ||||||
CHEMICALS – 0.2% | ||||||||
Nutrien Ltd., Sr. Unsecured, | 80,000 | 81,956 | ||||||
COMMERCIAL SERVICES & SUPPLIES – 0.1% | ||||||||
Global Payments, Inc., Sr. Unsecured, | 50,000 | 52,574 | ||||||
COMPUTERS – 0.1% | ||||||||
Hewlett Packard Enterprise Co., Sr. Unsecured, | 50,000 | 50,139 | ||||||
DIVERSIFIED FINANCIAL SERVICES – 1.6% |
| |||||||
Bank of America Corp., Sr. Unsecured, MTN, | 20,000 | 21,769 | ||||||
BlackRock, Inc., Sr. Unsecured, | 38,000 | 38,994 | ||||||
Capital One Financial Corp., Sr. Unsecured, | 30,000 | 31,142 | ||||||
Citigroup, Inc., Sr. Unsecured, (3 Month USD LIBOR + 0.95%), | 35,000 | 35,852 | ||||||
Fifth Third Bancorp, Sr. Unsecured | ||||||||
3.50%, 03/15/22 | 100,000 | 101,771 | ||||||
2.55%, 05/05/27 | 15,000 | 16,036 | ||||||
Fifth Third Bancorp, Subordinated, | 20,000 | 21,675 | ||||||
FMR LLC, Sr. Unsecured, | 100,000 | 149,974 | ||||||
Huntington Bancshares, Inc., Sr. Unsecured | ||||||||
2.63%, 08/06/24 | 25,000 | 26,336 | ||||||
2.55%, 02/04/30# | 50,000 | 53,233 | ||||||
Wells Fargo & Co., Series M, Subordinated, | 35,000 | 36,631 | ||||||
Wells Fargo & Co., Sr. Unsecured, (SOFR + 2.00%), | 25,000 | 26,092 | ||||||
Wells Fargo & Co., Subordinated, MTN, | 40,000 | 49,419 | ||||||
|
| |||||||
TOTAL DIVERSIFIED FINANCIAL SERVICES |
| $ | 608,924 | |||||
ELECTRIC – 0.4% | ||||||||
American Electric Power Co., Inc., Series M, Sr Unsecured, | 25,000 | 25,029 | ||||||
FirstEnergy Corp., Sr. Unsecured, | 100,000 | 101,652 |
July 31, 2021 (unaudited)
2 | PORTFOLIO OF INVESTMENTS |
Wilmington Diversified Income Fund (continued)
|
Description | Par Value | Value | ||||||
NextEra Energy Capital Holdings, Inc., Company Guaranteed, | ||||||||
0.65%, 03/01/23 | $ | 35,000 | $ | 35,116 | ||||
|
| |||||||
TOTAL ELECTRIC | $ | 161,797 | ||||||
FOOD & STAPLES RETAILING – 0.8% |
| |||||||
Archer-Daniels-Midland Co., Sr. Unsecured, | 20,000 | 22,371 | ||||||
Campbell Soup Co., Sr. Unsecured | ||||||||
3.30%, 03/19/25 | 40,000 | 43,245 | ||||||
3.13%, 04/24/50 | 50,000 | 49,795 | ||||||
Conagra Brands, Inc., Sr. Unsecured, | 40,000 | 45,552 | ||||||
Kroger Co. (The), Sr. Unsecured | ||||||||
2.80%, 08/01/22 | 35,000 | 35,798 | ||||||
5.40%, 01/15/49 | 50,000 | 69,797 | ||||||
McCormick & Co., Inc., Sr. Unsecured, | 35,000 | 36,380 | ||||||
|
| |||||||
TOTAL FOOD & STAPLES RETAILING |
| $ | 302,938 | |||||
HEALTHCARE-PRODUCTS – 0.1% |
| |||||||
DH Europe Finance II Sarl, Company Guaranteed, | 45,000 | 47,110 | ||||||
HEALTHCARE-SERVICES – 0.2% | ||||||||
Anthem, Inc., Sr. Unsecured, | 30,000 | 33,865 | ||||||
UnitedHealth Group, Inc., Sr. Unsecured | ||||||||
2.75%, 02/15/23 | 25,000 | 25,807 | ||||||
2.95%, 10/15/27 | 25,000 | 27,594 | ||||||
|
| |||||||
TOTAL HEALTHCARE-SERVICES | $ | 87,266 | ||||||
HOME FURNISHINGS – 0.3% |
| |||||||
Whirlpool Corp., Sr. Unsecured | ||||||||
4.70%, 06/01/22 | 65,000 | 67,259 | ||||||
2.40%, 05/15/31 | 15,000 | 15,368 | ||||||
4.60%, 05/15/50 | 30,000 | 38,311 | ||||||
|
| |||||||
TOTAL HOME FURNISHINGS | $ | 120,938 | ||||||
HOUSEHOLD PRODUCTS/WARES – 0.0%** |
| |||||||
Church & Dwight Co., Inc., Sr. Unsecured, | 15,000 | 17,867 | ||||||
INSURANCE – 0.7% | ||||||||
Aon PLC, Company Guaranteed, | 40,000 | 42,886 | ||||||
CNA Financial Corp., Sr. Unsecured, | 35,000 | 37,922 | ||||||
Lincoln National Corp., Sr. Unsecured, | 25,000 | 27,924 | ||||||
W.R. Berkley Corp., Sr. Unsecured | ||||||||
4.63%, 03/15/22 | 60,000 | 61,520 | ||||||
4.75%, 08/01/44 | 45,000 | 57,724 | ||||||
4.00%, 05/12/50 | 30,000 | 35,235 | ||||||
|
| |||||||
TOTAL INSURANCE | $ | 263,211 | ||||||
MACHINERY – 0.1% | ||||||||
Caterpillar, Inc., Sr. Unsecured, | 25,000 | 26,921 |
Description | Par Value | Value | ||||||
MEDIA – 0.4% | ||||||||
ViacomCBS, Inc., Sr. Unsecured | ||||||||
4.60%, 01/15/45 | $ | 75,000 | $ | 91,353 | ||||
4.95%, 05/19/50# | 25,000 | 32,241 | ||||||
Walt Disney Co. (The) / TWDC Enterprises 18 Corp., Company Guaranteed, GMTN, | 10,000 | 12,378 | ||||||
|
| |||||||
TOTAL MEDIA | $ | 135,972 | ||||||
MISCELLANEOUS MANUFACTURING – 0.3% |
| |||||||
Illinois Tool Works, Inc., Sr. Unsecured, 3.50%, 03/01/24 | 45,000 | 48,225 | ||||||
Trane Technologies Luxembourg Finance SA, Company Guaranteed, 3.50%, 03/21/26 | 55,000 | 60,688 | ||||||
|
| |||||||
TOTAL MISCELLANEOUS MANUFACTURING | $ | 108,913 | ||||||
OIL & GAS – 0.5% | ||||||||
Marathon Petroleum Corp., Sr. Unsecured, | 20,000 | 21,530 | ||||||
Phillips 66, Company Guaranteed | ||||||||
4.30%, 04/01/22 | 20,000 | 20,600 | ||||||
0.90%, 02/15/24 | 15,000 | 15,001 | ||||||
3.85%, 04/09/25 | 10,000 | 10,985 | ||||||
Pioneer Natural Resources Co., Sr. Unsecured | ||||||||
0.55%, 05/15/23 | 15,000 | 15,033 | ||||||
1.13%, 01/15/26 | 15,000 | 14,931 | ||||||
2.15%, 01/15/31# | 15,000 | 14,801 | ||||||
Shell International Finance BV, Company Guaranteed, | 25,000 | 27,263 | ||||||
Valero Energy Corp., Sr. Unsecured | ||||||||
4.00%, 04/01/29 | 30,000 | 33,602 | ||||||
4.90%, 03/15/45# | 10,000 | 12,403 | ||||||
|
| |||||||
TOTAL OIL & GAS | $ | 186,149 | ||||||
PHARMACEUTICALS – 0.3% | ||||||||
AbbVie, Inc., Sr. Unsecured | ||||||||
4.25%, 11/14/28 | 25,000 | 29,213 | ||||||
4.40%, 11/06/42 | 20,000 | 24,755 | ||||||
Bristol-Myers Squibb Co., Sr. Unsecured, | 25,000 | 25,863 | ||||||
Zoetis, Inc., Sr. Unsecured, | 20,000 | 24,572 | ||||||
|
| |||||||
TOTAL PHARMACEUTICALS | $ | 104,403 | ||||||
PIPELINES – 0.8% | ||||||||
Energy Transfer LP, Sr. Unsecured | ||||||||
3.60%, 02/01/23 | 35,000 | 36,247 | ||||||
4.20%, 04/15/27 | 40,000 | 44,627 | ||||||
3.75%, 05/15/30 | 15,000 | 16,361 | ||||||
Kinder Morgan, Inc., Company Guaranteed | ||||||||
5.20%, 03/01/48 | 40,000 | 51,349 | ||||||
3.60%, 02/15/51 | 20,000 | 21,060 | ||||||
MPLX LP, Sr. Unsecured, | 30,000 | 33,780 | ||||||
ONEOK Partners LP, Company Guaranteed, | 45,000 | 60,685 |
July 31, 2021 (unaudited)
PORTFOLIO OF INVESTMENTS | 3 |
Wilmington Diversified Income Fund (continued)
Description | Par Value | Value | ||||||
Spectra Energy Partners LP, Company Guaranteed, | ||||||||
4.50%, 03/15/45 | $ | 25,000 | $ | 29,906 | ||||
|
| |||||||
TOTAL PIPELINES | $ | 294,015 | ||||||
REAL ESTATE INVESTMENT TRUSTS – 0.5% |
| |||||||
American Tower Corp., Sr. Unsecured, | 15,000 | 16,608 | ||||||
AvalonBay Communities, Inc., Sr. Unsecured, MTN, | 25,000 | 27,691 | ||||||
Healthcare Realty Trust, Inc., Sr. Unsecured, | 15,000 | 16,427 | ||||||
Healthpeak Properties, Inc., Sr. Unsecured, | 50,000 | 53,363 | ||||||
Welltower, Inc., Sr. Unsecured, | 55,000 | 59,070 | ||||||
|
| |||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS |
| $ | 173,159 | |||||
RETAIL – 0.0%** | ||||||||
McDonald’s Corp., Sr. Unsecured, MTN, 1.45%, 09/01/25 | 15,000 | 15,339 | ||||||
SOFTWARE – 0.1% | ||||||||
Roper Technologies, Inc., Sr. Unsecured, 2.00%, 06/30/30 | 30,000 | 30,031 | ||||||
TELECOMMUNICATIONS – 0.3% | ||||||||
AT&T, Inc., Sr. Unsecured | ||||||||
4.50%, 05/15/35 | 15,000 | 17,973 | ||||||
3.55%, 09/15/55W | 29,000 | 30,121 | ||||||
Verizon Communications, Inc., Sr. Unsecured | ||||||||
1.75%, 01/20/31 | 35,000 | 34,035 | ||||||
3.40%, 03/22/41 | 25,000 | 26,836 | ||||||
|
| |||||||
TOTAL TELECOMMUNICATIONS | $ | 108,965 | ||||||
TRANSPORTATION – 0.3% | ||||||||
FedEx Corp., Company Guaranteed | ||||||||
3.88%, 08/01/42 | 30,000 | 34,178 | ||||||
4.10%, 02/01/45 | 15,000 | 17,604 | ||||||
Ryder System, Inc., Sr. Unsecured, MTN, | 10,000 | 10,212 | ||||||
Union Pacific Corp., Sr. Unsecured, | 45,000 | 47,943 | ||||||
|
| |||||||
TOTAL TRANSPORTATION | $ | 109,937 | ||||||
TRUCKING & LEASING – 0.1% | ||||||||
GATX Corp., Sr. Unsecured, | 20,000 | 26,201 | ||||||
|
| |||||||
TOTAL CORPORATE BONDS (COST $3,368,097) | $ | 3,704,525 | ||||||
Number of Shares | ||||||||
COMMON STOCKS – 40.9% | ||||||||
COMMUNICATION SERVICES – 2.2% |
| |||||||
DIVERSIFIED TELECOMMUNICATION SERVICES – 1.5% |
| |||||||
AT&T, Inc. | 12,225 | 342,911 | ||||||
Verizon Communications, Inc. | 4,275 | 238,460 | ||||||
|
| |||||||
$ | 581,371 |
Description | Number of Shares | Value | ||||||
MEDIA – 0.7% | ||||||||
Omnicom Group, Inc. | 3,650 | $ | 265,793 | |||||
|
| |||||||
TOTAL COMMUNICATION SERVICES |
| $ | 847,164 | |||||
CONSUMER DISCRETIONARY – 2.5% |
| |||||||
HOTELS, RESTAURANTS & LEISURE – 1.2% |
| |||||||
McDonald’s Corp. | 775 | 188,101 | ||||||
Restaurant Brands International, Inc. | 3,690 | 251,621 | ||||||
|
| |||||||
$ | 439,722 | |||||||
MULTILINE RETAIL – 0.5% | ||||||||
Target Corp. | 765 | 199,703 | ||||||
SPECIALTY RETAIL – 0.8% | ||||||||
Home Depot, Inc. (The) | 895 | 293,730 | ||||||
|
| |||||||
TOTAL CONSUMER DISCRETIONARY |
| $ | 933,155 | |||||
CONSUMER STAPLES – 2.7% | ||||||||
BEVERAGES – 0.7% | ||||||||
PepsiCo., Inc. | 1,805 | 283,295 | ||||||
HOUSEHOLD PRODUCTS – 1.1% | ||||||||
Procter & Gamble Co. (The) | 2,825 | 401,800 | ||||||
TOBACCO – 0.9% | ||||||||
Philip Morris International, Inc. | 3,290 | 329,296 | ||||||
|
| |||||||
TOTAL CONSUMER STAPLES | $ | 1,014,391 | ||||||
ENERGY – 2.7% | ||||||||
OIL, GAS & CONSUMABLE FUELS – 2.7% |
| |||||||
Chevron Corp. | 3,225 | 328,337 | ||||||
ConocoPhillips | 5,835 | 327,110 | ||||||
Exxon Mobil Corp. | 3,290 | 189,406 | ||||||
Valero Energy Corp. | 2,560 | 171,443 | ||||||
|
| |||||||
TOTAL ENERGY | $ | 1,016,296 | ||||||
FINANCIALS – 8.3% | ||||||||
BANKS – 1.9% | ||||||||
KeyCorp. | 9,940 | 195,420 | ||||||
Toronto-Dominion Bank (The) | 4,500 | 299,025 | ||||||
United Bankshares, Inc. | 6,355 | 219,502 | ||||||
|
| |||||||
$ | 713,947 | |||||||
CAPITAL MARKETS – 2.1% | ||||||||
BlackRock, Inc. | 455 | 394,562 | ||||||
Morgan Stanley | 4,120 | 395,438 | ||||||
|
| |||||||
$ | 790,000 | |||||||
DIVERSIFIED FINANCIAL SERVICES – 2.7% |
| |||||||
JPMorgan Chase & Co. | 4,235 | 642,788 | ||||||
U.S. Bancorp | 6,450 | 358,233 | ||||||
|
| |||||||
$ | 1,001,021 | |||||||
INSURANCE – 1.6% | ||||||||
MetLife, Inc. | 5,590 | 322,543 | ||||||
Old Republic International Corp. | 11,800 | 290,988 | ||||||
|
| |||||||
$ | 613,531 | |||||||
|
| |||||||
TOTAL FINANCIALS | $ | 3,118,499 |
July 31, 2021 (unaudited)
4 | PORTFOLIO OF INVESTMENTS |
Wilmington Diversified Income Fund (continued)
|
Description | Number of Shares | Value | ||||||
HEALTH CARE – 5.6% | ||||||||
BIOTECHNOLOGY – 1.0% | ||||||||
Amgen, Inc. | 735 | $ | 177,532 | |||||
Gilead Sciences, Inc. | 3,025 | 206,577 | ||||||
|
| |||||||
$ | 384,109 | |||||||
HEALTH CARE PROVIDERS & SERVICES – 0.9% |
| |||||||
CVS Health Corp. | 4,275 | 352,089 | ||||||
PHARMACEUTICALS – 3.7% | ||||||||
Bristol-Myers Squibb Co. | 4,140 | 280,982 | ||||||
Johnson & Johnson | 2,740 | 471,828 | ||||||
Merck & Co., Inc. | 3,210 | 246,753 | ||||||
Pfizer, Inc. | 9,050 | 387,430 | ||||||
|
| |||||||
$ | 1,386,993 | |||||||
|
| |||||||
TOTAL HEALTH CARE | $ | 2,123,191 | ||||||
INDUSTRIALS – 5.3% | ||||||||
AEROSPACE & DEFENSE – 1.0% |
| |||||||
Lockheed Martin Corp. | 980 | 364,237 | ||||||
AIR FREIGHT & LOGISTICS – 0.9% |
| |||||||
United Parcel Service, Inc. | 1,885 | 360,714 | ||||||
BUILDING PRODUCTS – 1.1% | ||||||||
Johnson Controls International PLC | 5,670 | 404,951 | ||||||
ELECTRICAL EQUIPMENT – 1.7% |
| |||||||
Emerson Electric Co. | 4,010 | 404,569 | ||||||
nVent Electric PLC | 7,450 | 235,494 | ||||||
|
| |||||||
$ | 640,063 | |||||||
MACHINERY – 0.6% | ||||||||
Caterpillar, Inc. | 1,115 | 230,526 | ||||||
|
| |||||||
TOTAL INDUSTRIALS | $ | 2,000,491 | ||||||
INFORMATION TECHNOLOGY – 4.8% |
| |||||||
COMMUNICATIONS EQUIPMENT – 1.3% |
| |||||||
Cisco Systems, Inc. | 8,510 | 471,199 | ||||||
IT SERVICES – 0.6% | ||||||||
International Business Machines Corp. | 1,660 | 233,993 | ||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 2.9% |
| |||||||
Broadcom, Inc. | 1,150 | 558,210 | ||||||
QUALCOMM, Inc. | 3,595 | 538,531 | ||||||
|
| |||||||
$ | 1,096,741 | |||||||
|
| |||||||
TOTAL INFORMATION TECHNOLOGY |
| $ | 1,801,933 | |||||
MATERIALS – 2.0% | ||||||||
CHEMICALS – 2.0% | ||||||||
Dow, Inc. | 6,525 | 405,594 | ||||||
Nutrien Ltd. | 6,025 | 357,885 | ||||||
|
| |||||||
TOTAL MATERIALS | $ | 763,479 | ||||||
REAL ESTATE – 2.3% | ||||||||
REAL ESTATE INVESTMENT TRUSTS – 2.3% |
| |||||||
AvalonBay Communities, Inc. | 1,555 | 354,276 | ||||||
Crown Castle International Corp. | 1,515 | 292,531 |
Description | Number of Shares | Value | ||||||
MGM Growth Properties LLC | 5,350 | $ | 202,230 | |||||
|
| |||||||
TOTAL REAL ESTATE | $ | 849,037 | ||||||
UTILITIES – 2.5% | ||||||||
ELECTRIC UTILITIES – 2.5% | ||||||||
American Electric Power Co., Inc. | 2,715 | 239,246 | ||||||
Duke Energy Corp. | 2,070 | 217,578 | ||||||
FirstEnergy Corp. | 6,135 | 235,093 | ||||||
NextEra Energy, Inc. | 3,280 | 255,512 | ||||||
|
| |||||||
TOTAL UTILITIES | $ | 947,429 | ||||||
|
| |||||||
TOTAL COMMON STOCKS (COST $11,126,788) | $ | 15,415,065 | ||||||
| ||||||||
Par Value
| ||||||||
GOVERNMENT AGENCIES – 0.8% | ||||||||
FEDERAL HOME LOAN BANK (FHLB) – 0.1% |
| |||||||
3.25%, 11/16/28 | $ | 35,000 | 40,363 | |||||
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 0.7% |
| |||||||
0.36%, 05/15/24 | 270,000 | 269,857 | ||||||
|
| |||||||
TOTAL GOVERNMENT AGENCIES (COST $304,667) | $ | 310,220 | ||||||
MORTGAGE-BACKED SECURITIES – 5.3% |
| |||||||
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 2.0% |
| |||||||
Pool C00478, 8.50%, 09/01/26 | 589 | 672 | ||||||
Pool A15865, 5.50%, 11/01/33 | 15,754 | 17,985 | ||||||
Pool A19412, 5.00%, 03/01/34 | 35,588 | 40,584 | ||||||
Pool G05774, 5.00%, 01/01/40 | 88,889 | 99,720 | ||||||
Pool C03517, 4.50%, 09/01/40 | 9,673 | 10,664 | ||||||
Pool C03849, 3.50%, 04/01/42 | 19,351 | 21,249 | ||||||
Pool C04305, 3.00%, 11/01/42 | 87,586 | 94,532 | ||||||
Pool C09020, 3.50%, 11/01/42 | 63,290 | 68,456 | ||||||
Pool G07889, 3.50%, 08/01/43 | 15,306 | 16,557 | ||||||
Pool Q23891, 4.00%, 12/01/43 | 10,001 | 10,738 | ||||||
Pool G60038, 3.50%, 01/01/44 | 50,038 | 54,124 | ||||||
Pool ZS4693, 3.00%, 12/01/46 | 54,495 | 57,492 | ||||||
Pool SD8000, 3.00%, 07/01/49 | 20,360 | 21,402 | ||||||
Pool SD8012, 4.00%, 09/01/49 | 1,097 | 1,170 | ||||||
Pool SD8037, 2.50%, 01/01/50 | 81,961 | 85,374 | ||||||
Pool RA2480, 2.50%, 07/01/50 | 10,527 | 10,997 | ||||||
Pool SD8104, 1.50%, 11/01/50 | 44,744 | 44,331 | ||||||
Pool RA4349, 2.50%, 01/01/51 | 44,780 | 46,681 | ||||||
Pool SD8141, 2.50%, 04/01/51 | 55,770 | 58,139 | ||||||
|
| |||||||
TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) |
| $ | 760,867 | |||||
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 3.2% |
| |||||||
Pool AB4089, 3.00%, 12/01/26 | 8,974 | 9,443 | ||||||
Pool 533246, 7.50%, 04/01/30 | 1,474 | 1,508 | ||||||
Pool AJ4050, 4.00%, 10/01/41 | 29,983 | 32,812 | ||||||
Pool AX5302, 4.00%, 01/01/42 | 10,611 | 11,612 | ||||||
Pool AT7899, 3.50%, 07/01/43 | 28,326 | 30,539 | ||||||
Pool AS0302, 3.00%, 08/01/43 | 31,884 | 33,989 | ||||||
Pool AL6325, 3.00%, 10/01/44 | 29,572 | 31,524 | ||||||
Pool BC0830, 3.00%, 04/01/46 | �� | 28,123 | 29,669 |
July 31, 2021 (unaudited)
PORTFOLIO OF INVESTMENTS | 5 |
Wilmington Diversified Income Fund (continued)
Description | Par Value | Value | ||||||
Pool BC9468, 3.00%, 06/01/46 | $ | 11,006 | $ | 11,612 | ||||
Pool BE1899, 3.00%, 11/01/46 | 46,561 | 49,120 | ||||||
Pool BD7166, 4.50%, 04/01/47 | 27,864 | 30,246 | ||||||
Pool BE3625, 3.50%, 05/01/47 | 37,439 | 39,844 | ||||||
Pool BE3702, 4.00%, 06/01/47 | 55,388 | 59,467 | ||||||
Pool BE3767, 3.50%, 07/01/47 | 4,494 | 4,798 | ||||||
Pool BH9215, 3.50%, 01/01/48 | 12,578 | 13,430 | ||||||
Pool BJ0650, 3.50%, 03/01/48 | 74,962 | 79,890 | ||||||
Pool BJ9169, 4.00%, 05/01/48 | 27,115 | 28,985 | ||||||
Pool BK4764, 4.00%, 08/01/48 | 20,827 | 22,242 | ||||||
Pool MA3444, 4.50%, 08/01/48 | 15,257 | 16,417 | ||||||
Pool BN1628, 4.50%, 11/01/48 | 7,648 | 8,246 | ||||||
Pool BN3956, 4.00%, 01/01/49 | 9,879 | 10,550 | ||||||
Pool MA3871, 3.00%, 12/01/49 | 28,941 | 30,423 | ||||||
Pool CA5353, 3.50%, 03/01/50 | 79,444 | 84,226 | ||||||
Pool FM4994, 2.00%, 12/01/50 | 68,864 | 70,487 | ||||||
Pool MA4208, 2.00%, 12/01/50 | 45,546 | 46,492 | ||||||
Pool BQ4495, 2.00%, 02/01/51 | 95,616 | 97,635 | ||||||
Pool BR7857, 2.50%, 05/01/51 | 72,023 | 75,092 | ||||||
Pool FM7188, 2.50%, 05/01/51 | 91,182 | 96,807 | ||||||
Pool MA4356, 2.50%, 06/01/51 | 75,376 | 78,589 | ||||||
Pool BT0491, 2.00%, 07/01/51 | 73,000 | 74,523 | ||||||
|
| |||||||
TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) |
| $ | 1,210,217 | |||||
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.1% |
| |||||||
Pool 354677, 7.50%, 10/15/23 | 1,973 | 1,987 | ||||||
Pool 354765, 7.00%, 02/15/24 | 4,550 | 5,016 | ||||||
Pool 354827, 7.00%, 05/15/24 | 3,009 | 3,321 | ||||||
|
| |||||||
TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) |
| $ | 10,324 | |||||
|
| |||||||
TOTAL MORTGAGE-BACKED SECURITIES (COST $1,933,299) |
| $ | 1,981,408 | |||||
U.S. TREASURY OBLIGATIONS – 7.6% |
| |||||||
U.S. TREASURY BONDS – 2.1% | ||||||||
1.63%, 05/15/31 | 90,000 | 93,322 | ||||||
4.75%, 02/15/37# | 21,000 | 30,532 | ||||||
4.38%, 05/15/40 | 120,000 | 172,252 | ||||||
3.63%, 02/15/44 | 87,000 | 115,928 | ||||||
3.38%, 05/15/44 | 139,000 | 178,831 | ||||||
3.13%, 08/15/44 | 11,000 | 13,629 | ||||||
3.00%, 11/15/44 | 53,000 | 64,418 | ||||||
3.00%, 11/15/45 | 8,000 | 9,781 | ||||||
3.00%, 02/15/47 | 21,000 | 25,818 | ||||||
3.00%, 05/15/47 | 30,000 | 36,925 | ||||||
2.00%, 02/15/50 | 50,000 | 51,041 | ||||||
|
| |||||||
TOTAL U.S. TREASURY BONDS | $ | 792,477 | ||||||
U.S. TREASURY NOTES – 5.5% | ||||||||
1.75%, 05/15/23 | 405,000 | 416,491 | ||||||
2.00%, 04/30/24 | 170,000 | 177,886 | ||||||
1.75%, 07/31/24 | 30,000 | 31,266 | ||||||
2.25%, 11/15/24 | 80,000 | 84,813 | ||||||
2.00%, 02/15/25 | 115,000 | 121,220 | ||||||
2.13%, 05/15/25 | 140,000 | 148,515 | ||||||
2.00%, 08/15/25 | 35,000 | 37,028 | ||||||
2.25%, 11/15/25 | 5,000 | 5,353 |
Description | Par Value | Value | ||||||
1.63%, 05/15/26 | $ | 195,000 | $ | 203,803 | ||||
1.50%, 08/15/26 | 90,000 | 93,543 | ||||||
2.25%, 08/15/27 | 460,000 | 498,021 | ||||||
1.25%, 06/30/28 | 200,000 | 203,502 | ||||||
2.38%, 05/15/29 | 50,000 | 54,846 | ||||||
|
| |||||||
TOTAL U.S. TREASURY NOTES | $ | 2,076,287 | ||||||
|
| |||||||
TOTAL U.S. TREASURY OBLIGATIONS (COST $2,637,926) |
| $ | 2,868,764 | |||||
|
| |||||||
Number of
| ||||||||
INVESTMENT COMPANIES – 34.2% |
| |||||||
EXCHANGE-TRADED FUNDS – 30.7% |
| |||||||
iShares iBoxx High Yield Corporate Bond ETF# | 21,300 | 1,870,992 | ||||||
iShares International Select Dividend ETF# | 215,200 | 6,955,264 | ||||||
SPDR Dow Jones International Real Estate ETF# | 42,625 | 1,615,488 | ||||||
Vanguard REIT ETF | 10,700 | 1,137,303 | ||||||
|
| |||||||
TOTAL EXCHANGE-TRADED FUNDS |
| $ | 11,579,047 | |||||
INFLATION-PROTECTED SECURITIES FUND – 3.5% |
| |||||||
Vanguard Inflation-Protected Securities Fund, Admiral Shares | 45,416 | 1,324,792 | ||||||
|
| |||||||
TOTAL INVESTMENT COMPANIES (COST $12,619,977) |
| $ | 12,903,839 | |||||
MONEY MARKET FUND – 1.1% |
| |||||||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%^ | 396,385 | 396,385 | ||||||
|
| |||||||
TOTAL MONEY MARKET FUND (COST $396,385) | $ | 396,385 | ||||||
| ||||||||
| ||||||||
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 10.0% |
| |||||||
REPURCHASE AGREEMENTS – 10.0% |
| |||||||
Bank of America Securities, Inc., 0.05%, dated 7/30/21, due 8/02/21, repurchase price $279,500 collateralized by U.S. Government Agency Securities, 1.00% to 5.50%, maturing 11/01/28 to 8/01/51; total market value of $285,089. | $ | 279,499 | 279,499 | |||||
BNP Paribas SA, 0.05%, dated 7/30/21, due 8/02/21, repurchase price $702,117 collateralized by U.S. Government Agency & Treasury Securities, 0.00% to 8.13%, maturing 8/15/21 to 5/01/51; total market value of $716,156. | 702,114 | 702,114 | ||||||
Citigroup Global Markets Ltd., 0.06%, dated 7/30/21, due 8/02/21, repurchase price $702,118 collateralized by U.S. Government Agency & Treasury Securities, 1.63% to 5.00%, maturing 3/31/22 to 7/20/51; total market value of $716,156. | 702,114 | 702,114 | ||||||
Daiwa Capital Markets America, 0.05%, dated 7/30/21, due 8/02/21, repurchase price $702,117 collateralized by U.S. Government Agency & Treasury Securities, 0.00% to 6.50%, maturing 9/16/21 to 8/01/51; total market value of $716,156. | 702,114 | 702,114 |
July 31, 2021 (unaudited)
6 | PORTFOLIO OF INVESTMENTS |
Wilmington Diversified Income Fund (continued)
Description | Par Value | Value | ||||||
Deutsche Bank Securities, Inc., 0.05%, dated 7/30/21, due 8/02/21, repurchase price $702,117 collateralized by U.S. Government Agency Securities, 0.00% to 7.25%, maturing 8/12/21 to 6/21/41; total market value of $716,157. | $ | 702,114 | $ | 702,114 | ||||
RBC Dominion Securities, Inc., 0.05%, dated 7/30/21, due 8/02/21, repurchase price $702,117 collateralized by U.S. Government Agency & Treasury Securities, 0.25% to 7.50%, maturing 4/15/24 to 4/01/53; total market value of $716,156. | 702,114 | 702,114 | ||||||
|
| |||||||
TOTAL REPURCHASE AGREEMENTS |
| $ | 3,790,069 | |||||
|
| |||||||
TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $3,790,069) |
| $ | 3,790,069 | |||||
|
| |||||||
TOTAL INVESTMENTS – 109.9% (COST $36,267,507) |
| $ | 41,453,095 | |||||
COLLATERAL FOR SECURITIES ON LOAN – (10.0%) |
| (3,790,069 | ) | |||||
OTHER ASSETS LESS LIABILITIES – 0.1% |
| 42,320 | ||||||
|
| |||||||
TOTAL NET ASSETS – 100.0% | $ | 37,705,346 | ||||||
|
|
The Fund follows the authoritative guidance (U.S. generally accepted accounting principles) for fair value measurements. The guidance establishes a framework for measuring fair value and a hierarchy for inputs and techniques used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs and techniques by requiring that the most observable inputs be used when available. The guidance establishes three tiers of inputs that may be used to measure fair value. These inputs are summarized in the three broad levels listed below.
Level 1 – quoted prices in active markets for identical securities
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The following is a summary of the inputs used as of July 31, 2021 in valuing the Fund’s assets carried at fair value:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments in Securities | ||||||||||||||||
Collateralized Mortgage Obligations | $ | — | $ | 82,820 | $— | $ | 82,820 | |||||||||
Corporate Bonds | — | 3,704,525 | — | 3,704,525 | ||||||||||||
Common Stocks | 15,415,065 | — | — | 15,415,065 | ||||||||||||
Government Agencies | — | 310,220 | — | 310,220 | ||||||||||||
Mortgage-Backed Securities | — | 1,981,408 | — | 1,981,408 | ||||||||||||
U.S. Treasury Obligations | — | 2,868,764 | — | 2,868,764 | ||||||||||||
Investment Companies | 12,903,839 | — | — | 12,903,839 | ||||||||||||
Money Market Fund | 396,385 | — | — | 396,385 | ||||||||||||
Repurchase Agreements | — | 3,790,069 | — | 3,790,069 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 28,715,289 | $ | 12,737,806 | $— | $ | 41,453,095 | |||||||||
|
|
|
|
|
|
|
|
The inputs or techniques used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Additional information on the Fund’s valuation policy is included in the most recent shareholder report.
** | Represents less than 0.05%. |
D | Variable rate security. The rate disclosed is the rate in effect on the report date. The information in parenthesis represents the benchmark and reference rate for each relevant security and the rate floats based upon the reference rate and spread. The security may be further subject to interest rate floor and caps. 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. |
W | Denotes a restricted security that may be resold without restriction to “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933 and that the Fund has determined to be liquid under criteria established by the Fund’s Board of Trustees. At July 31, 2021, these liquid restricted securities amounted to $180,095 representing 0.48% of total net assets. |
# | Security, or a portion thereof, is on loan. |
July 31, 2021 (unaudited)
PORTFOLIO OF INVESTMENTS | 7 |
Wilmington Diversified Income Fund (concluded)
^ 7-Day net yield.
| ||
The following acronyms are used throughout this Fund: | ||
ETF | Exchange-Traded Fund | |
GMTN | Global Medium Term Note | |
LIBOR | London Interbank Offered Rate | |
LLC | Limited Liability Corporation | |
LP | Limited Partnership | |
MTN | Medium Term Note | |
PLC | Public Limited Company | |
REIT | Real Estate Investment Trust | |
SOFR | Secured Overnight Financing Rate | |
SPDR | Standard & Poor’s Depositary Receipt | |
USD | United States Dollar |
For additional information about significant accounting policies, refer to Fund’s most recent semi-annual or annual report.
July 31, 2021 (unaudited)