# EDGAR Filing Document

**Accession Number:** 0000728352
**File Stem:** 0001752724-23-014309
**Filing Date:** 2023-1
**Character Count:** 287214
**Document Hash:** f06f2262b4631c87b4a828c13d4b2797
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-014309.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001752724-23-014309

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DELAWARE GROUP TAX FREE FUND
- **CENTRAL INDEX KEY:** 0000728352
- **IRS NUMBER:** 232448684
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03850
- **FILM NUMBER:** 23556101

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP TAX FREE FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DMC TAX FREE INCOME USA INC
- **DATE OF NAME CHANGE:** 19890904

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DMC TAX FREE BOND FUND INC
- **DATE OF NAME CHANGE:** 19831122

## Series and Classes Contracts Data

### DELAWARE TAX-FREE USA INTERMEDIATE FUND (Series ID: S000002404)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000006388 | DELAWARE TAX-FREE USA INTERMEDIATE FUND CLASS A | DMUSX           |
| C000006390 | DELAWARE TAX-FREE USA INTERMEDIATE FUND CLASS C | DUICX           |
| C000074147 | Institutional Class                             | DUSIX           |

## Nport-Ex

Schedule of investments

Delaware Tax-Free USA Intermediate Fund November 30, 2022 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds — 96.32%** | &nbsp;&nbsp;**Municipal Bonds — 96.32%** | &nbsp;&nbsp;**Municipal Bonds — 96.32%** |
| &nbsp;&nbsp;Corporate Revenue Bonds — 12.98% | &nbsp;&nbsp;Corporate Revenue Bonds — 12.98% | &nbsp;&nbsp;Corporate Revenue Bonds — 12.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arizona Industrial Development Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Legacy Cares, Inc. Project)<br> Series A 144A 7.75% 7/1/50 # | 5520000 | &nbsp;&nbsp;$3864000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buckeye, Tobacco Settlement Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 3.00% 6/1/48 | 7060000 | &nbsp;&nbsp;&nbsp;&nbsp; 5063150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.00% 6/1/48 | 1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1481193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Community Choice Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Clean Energy Project)<br> Series B-1 4.00% 2/1/52 | 1910000 | &nbsp;&nbsp;&nbsp;&nbsp; 1885743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Pollution Control Financing Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Calplant I Project)<br> 144A 8.00% 7/1/39 (AMT) #, ‡ | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 625000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(LP Desalination Project)<br> 144A 5.00% 7/1/37 (AMT) # | 3700000 | &nbsp;&nbsp;&nbsp;&nbsp; 3628553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Central Plains, Nebraska Energy Project |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Project No. 3) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/35 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1308950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 258933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chandler, Arizona Industrial Development Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Intel Corporation Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70% 12/1/37 (AMT) • | 2700000 | &nbsp;&nbsp;&nbsp;&nbsp; 2683746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/42 • | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5178200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Pennsylvania Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Tobacco Master Settlement Payment)<br> 5.00% 6/1/27 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2162040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Erie, New York Tobacco Asset Securitization |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Asset-Backed)<br> Series A 144A 0.459% 6/1/60 #, ^ | 38675000 | &nbsp;&nbsp;&nbsp;&nbsp; 2116683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Florida Development Finance Corporation Surface<br> Transportation Facility Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Brightline Passenger Rail Project)<br> Series B 144A 7.375% 1/1/49 (AMT) # | 5435000 | &nbsp;&nbsp;&nbsp;&nbsp; 4846498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Virgin Trains USA Passenger Rail Project)<br> Series A 144A 6.50% 1/1/49 (AMT) #, • | 1710000 | &nbsp;&nbsp;&nbsp;&nbsp; 1539530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;George L Smith II Congress Center Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 1/1/54 | 2210000 | &nbsp;&nbsp;&nbsp;&nbsp; 1798830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 144A 5.00% 1/1/36 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 935910 |

---

NQ-037 [11/22] 01/23 (2679874) 1

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Corporate Revenue Bonds (continued) | &nbsp;&nbsp;Corporate Revenue Bonds (continued) | &nbsp;&nbsp;Corporate Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Houston, Texas Airport System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United Airlines Inc.)<br> 5.00% 7/1/29 (AMT) | 3370000 | &nbsp;&nbsp;$3376942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inland, California Empire Tobacco Securitization |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Appreciation-Asset-Backed) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series E 144A 1.33% 6/1/57 #, ^ | 62600000 | &nbsp;&nbsp;&nbsp;&nbsp; 3429228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series F 144A 0.396% 6/1/57 #, ^ | 74090000 | &nbsp;&nbsp;&nbsp;&nbsp; 3405176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Finance Authority Midwestern Disaster Area<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Iowa Fertilizer Company Project)<br> 5.00% 12/1/50 | 4135000 | &nbsp;&nbsp;&nbsp;&nbsp; 3920394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Tobacco Settlement Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.00% 6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 276459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.00% 6/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 546240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.00% 6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 270381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jefferson County, Texas Industrial Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(TRP Crude Marketing LLC Project)<br> 144A 7.75% 4/1/39 # | 1275000 | &nbsp;&nbsp;&nbsp;&nbsp; 1067545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kentucky Public Energy Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Gas Supply Revenue)<br> Series C-1 4.00% 12/1/49 • | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4970600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lower Alabama Gas District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/34 | 4850000 | &nbsp;&nbsp;&nbsp;&nbsp; 5092936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maine Finance Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Go Lab Madison Project, Green Bonds)<br> 144A 8.00% 12/1/51 (AMT) # | 3490000 | &nbsp;&nbsp;&nbsp;&nbsp; 2400387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A Class 1 4.00% 6/1/49 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1656880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Special<br> Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Continental Airlines Project)<br> Series B 5.625% 11/15/30 (AMT) | 1890000 | &nbsp;&nbsp;&nbsp;&nbsp; 1901926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Tobacco Settlement Financing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series B 5.00% 6/1/46 | 1965000 | &nbsp;&nbsp;&nbsp;&nbsp; 1901688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Counties Tobacco Trust V |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Appreciation - Pass Through)<br> Series 4B 144A 0.587% 6/1/60 #, ^ | 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 682400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Liberty Development Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Goldman Sachs Headquarters)<br> 5.25% 10/1/35 | 3540000 | &nbsp;&nbsp;&nbsp;&nbsp; 3889044 |

---

2 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Corporate Revenue Bonds (continued) | &nbsp;&nbsp;Corporate Revenue Bonds (continued) | &nbsp;&nbsp;Corporate Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corporation<br> Special Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 6.50% 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;$703720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(American Airlines, Inc. - John F. Kennedy International Airport Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00% 8/1/31 (AMT) | 5230000 | &nbsp;&nbsp;&nbsp;&nbsp; 4678810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/37 (AMT) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1005260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Delta AirLines - LaGuardia Airport Terminals C&D Redevelopment Project)<br> 5.00% 1/1/36 (AMT) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3015060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Delta Airlines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project)<br> 5.00% 1/1/34 (AMT) | 4210000 | &nbsp;&nbsp;&nbsp;&nbsp; 4248058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Authority for Colorado Energy Natural Gas<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50% 11/15/38 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3612450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Wisconsin |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior Lien - Grand Hyatt San Antonio Hotel Acquisition Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/1/52 | 3020000 | &nbsp;&nbsp;&nbsp;&nbsp; 2807634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/1/62 | 1375000 | &nbsp;&nbsp;&nbsp;&nbsp; 1251456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salt Verde, Arizona Financial Corporation Senior Gas<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/37 | 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8280000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 12/1/24 | 3050000 | &nbsp;&nbsp;&nbsp;&nbsp; 3129056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Carolina Jobs - Economic Development<br> Authority Educational Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(AAC East LLC Project - Green Bonds)<br> Series A 144A 7.00% 5/1/39 (AMT) # | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1150380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Jasper Pellets, LLC Project - Green Bonds)<br> Series A 144A 7.00% 11/1/38 (AMT) #, ‡ | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1187500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southeast Energy Authority, A Cooperative District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Project No.3)<br> Series A-1 5.50% 1/1/53 | 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5848480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. John Baptist Parish, Louisiana |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Marathon Oil Corporation project)<br> Subseries A-2 2.10% 6/1/37 • | 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2176425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Paul Port Authority Solid Waste Disposal Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Gerdau St. Paul Steel Mill Project)<br> Series 7 144A 4.50% 10/1/37 (AMT) # | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1878240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tennessee Energy Acquisition Commodity Project<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 5/1/52 | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1340924 |

---

NQ-037 [11/22] 01/23 (2679874) 3

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Corporate Revenue Bonds (continued) | &nbsp;&nbsp;Corporate Revenue Bonds (continued) | &nbsp;&nbsp;Corporate Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tobacco Securitization Authority of Southern California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Appreciation-2nd Subordinate Lien)<br> Capital Appreciation Second Subordinate Series C 1.99% 6/1/46 ^ | 9655000 | &nbsp;&nbsp;$1490925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Appreciation-3rd Subordinate Lien)<br> Capital Appreciation Third Subordinate Series D 2.609% 6/1/46 ^ | 1630000 | &nbsp;&nbsp;&nbsp;&nbsp; 196920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TSASC, New York |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp; 491801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp; 491601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tuscaloosa County, Alabama Industrial Development<br> Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Hunt Refining Project)<br> Series A 144A 5.25% 5/1/44 # | 2945000 | &nbsp;&nbsp;&nbsp;&nbsp; 2445410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virginia Tobacco Settlement Financing Corporation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Appreciation Asset-Backed) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.20% 6/1/46 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1215312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 10.791% 6/1/47 ^ | 53800000 | &nbsp;&nbsp;&nbsp;&nbsp; 12915766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 2.466% 6/1/47 ^ | 8185000 | &nbsp;&nbsp;&nbsp;&nbsp; 1900557 |
|  |  | &nbsp;&nbsp;&nbsp; 145626930 |
| &nbsp;&nbsp;Education Revenue Bonds — 6.14% | &nbsp;&nbsp;Education Revenue Bonds — 6.14% | &nbsp;&nbsp;Education Revenue Bonds — 6.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arizona Industrial Development Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(American Charter Schools Foundation Project)<br> 144A 6.00% 7/1/37 # | 1420000 | &nbsp;&nbsp;&nbsp;&nbsp; 1460456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Empower College Prep Project)<br> 144A 6.00% 7/1/49 # | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp; 852285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Macombs Facility Project)<br> Series A 4.00% 7/1/61 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1507540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Odyssey Preparatory Academy Project)<br> Series A 144A 5.50% 7/1/52 # | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp; 848855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bucks County, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Lane Charter School Project)<br> 5.125% 3/15/36 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2058120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Community College Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Napa Valley College Project)<br> Series A 144A 4.25% 7/1/32 # | 1480000 | &nbsp;&nbsp;&nbsp;&nbsp; 1402744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Educational Facilities Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Stanford University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series T-1 5.00% 3/15/39 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5992150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series V-1 5.00% 5/1/49 | 1075000 | &nbsp;&nbsp;&nbsp;&nbsp; 1270757 |

---

4 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.50% 6/1/53 # | 1000000 | &nbsp;&nbsp;$961460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Hawking Steam Charter School Project)<br> Series A 144A 5.00% 7/1/42 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 946190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(View Park Elementary & Middle Schools)<br> Series A 4.75% 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Systemwide)<br> Series A 5.00% 11/1/31 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2203080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(California Baptist University)<br> Series A 144A 6.125% 11/1/33 # | 2215000 | &nbsp;&nbsp;&nbsp;&nbsp; 2255313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Trust Agency, Florida Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Liza Jackson Preparatory School Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 303402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp; 782864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(University Bridge, LLC Student Housing Project)<br> Series A 144A 5.25% 12/1/43 # | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1867420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;District of Columbia Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(KIPP DC Issue) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 7/1/39 | 1275000 | &nbsp;&nbsp;&nbsp;&nbsp; 1186541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp; 658215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Florida Development Finance Corp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Mater Academy Projects) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp; 427696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 416176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fulton County, Georgia Development Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Georgia Institute of Technology)<br> 5.00% 6/15/44 | 3100000 | &nbsp;&nbsp;&nbsp;&nbsp; 3350728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Idaho Housing & Finance Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Alturas International Academy Project)<br> 4.00% 5/1/52 | 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1197826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Anser of Idaho Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp; 234269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Meridian South Charter School Project)<br> 144A 4.00% 5/1/46 # | &nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp; 512797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Sage International School of Boise Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 5/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp; 446306 |

---

NQ-037 [11/22] 01/23 (2679874) 5

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Idaho Housing & Finance Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Sage International School of Boise Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 5/1/40 | 1330000 | &nbsp;&nbsp;$1273488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 5/1/55 | 1540000 | &nbsp;&nbsp;&nbsp;&nbsp; 1374250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(University of Illinois at Chicago) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 400320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp; 258687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp; 384641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp; 258118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maricopa County, Arizona Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Arizona Autism Charter Schools Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.00% 7/1/40 # | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 234675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.00% 7/1/50 # | &nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp; 156945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Highland Prep Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp; 438375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 466935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp; 660021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts School Building Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 8/15/37 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2617975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miami-Dade County, Florida Educational Facilities<br> Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(University of Miami) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp; 539115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/31 | 1090000 | &nbsp;&nbsp;&nbsp;&nbsp; 1129545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(New York University)<br> Series A 5.75% 7/1/27 (NATL) | 7530000 | &nbsp;&nbsp;&nbsp;&nbsp; 8120804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Newark, Texas Higher Education Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Village Tech Schools)<br> Series A 5.125% 8/15/47 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1089625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oregon State Facilities Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Metro East Web Academy Project)<br> Series A 144A 5.00% 6/15/49 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 845860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phoenix, Arizona Industrial Development Authority<br> Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Downtown Phoenix Student Housing, LLC-Arizona State University Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 361676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp; 241199 |

---

6 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CFP3 – Eastern Michigan University Student Housing Project)<br> Series A-1 5.25% 7/1/42 | 3000000 | &nbsp;&nbsp;$3161670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Carolina Jobs - Economic Development<br> Authority Educational Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(High Point Academy Project)<br> Series A 144A 5.75% 6/15/39 # | 1345000 | &nbsp;&nbsp;&nbsp;&nbsp; 1366211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of Minnesota |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/34 | 1855000 | &nbsp;&nbsp;&nbsp;&nbsp; 1962998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of Texas Permanent University Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 7/1/27-24 | 3715000 | &nbsp;&nbsp;&nbsp;&nbsp; 3854350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westchester County Local Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 5/1/34 | 4150000 | &nbsp;&nbsp;&nbsp;&nbsp; 4168883 |
|  |  | &nbsp;&nbsp;&nbsp; 68864324 |
| &nbsp;&nbsp;Electric Revenue Bonds — 6.24% | &nbsp;&nbsp;Electric Revenue Bonds — 6.24% | &nbsp;&nbsp;Electric Revenue Bonds — 6.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Municipal Power Inc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(AMP Fremont Energy Center Project)<br> Series A 4.00% 2/15/37 | 1330000 | &nbsp;&nbsp;&nbsp;&nbsp; 1309664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Community Choice Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 5/1/53 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3000540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guam Power Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/32 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4272480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/33 | 2915000 | &nbsp;&nbsp;&nbsp;&nbsp; 3088238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long Island, New York Power Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 270493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/35 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1072320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Missouri Joint Municipal Electric Utility Commission |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Green Bonds - Climate Bond Certified) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 12/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 383331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 12/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 547525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 544620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp; 705107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 12/1/42 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1082510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M-S-R Energy Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 7.00% 11/1/34 | 2905000 | &nbsp;&nbsp;&nbsp;&nbsp; 3594676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal Electric Authority of Georgia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Plant Vogtle Units 3&4 Project)<br> Series A 5.00% 1/1/39 | 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; 6407875 |

---

NQ-037 [11/22] 01/23 (2679874) 7

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Electric Revenue Bonds (continued) | &nbsp;&nbsp;Electric Revenue Bonds (continued) | &nbsp;&nbsp;Electric Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Utility Debt Securitization Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Restructuring Bonds)<br> 5.00% 12/15/33 | 1500000 | &nbsp;&nbsp;$1594275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Electric Power Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series CCC 5.25% 7/1/27 ‡ | 1520000 | &nbsp;&nbsp;&nbsp;&nbsp; 1128600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series TT 5.00% 7/1/32 ‡ | 1555000 | &nbsp;&nbsp;&nbsp;&nbsp; 1150700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.25% 7/1/33 ‡ | 1015000 | &nbsp;&nbsp;&nbsp;&nbsp; 753638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.50% 7/1/17 ‡ | 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1630750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.50% 7/1/19 ‡ | 1710000 | &nbsp;&nbsp;&nbsp;&nbsp; 1267537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.50% 7/1/38 ‡ | 1925000 | &nbsp;&nbsp;&nbsp;&nbsp; 1436531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series XX 5.25% 7/1/40 ‡ | 4630000 | &nbsp;&nbsp;&nbsp;&nbsp; 3437775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series ZZ 5.00% 7/1/19 ‡ | 2990000 | &nbsp;&nbsp;&nbsp;&nbsp; 2197650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salt River, Arizona Project Agricultural Improvement &<br> Power District Electric Systems Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/35 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4188040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/38 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5324900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Carolina Public Service Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series E 5.25% 12/1/37 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3298020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series E 5.25% 12/1/38 | 1615000 | &nbsp;&nbsp;&nbsp;&nbsp; 1763257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tennergy Corporation Gas Supply Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 12/1/51 | 4100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4019394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utility Debt Securitization Authority Restructuring<br> Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/15/36 | 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10524200 |
|  |  | &nbsp;&nbsp;&nbsp; 69994646 |
| &nbsp;&nbsp;Healthcare Revenue Bonds — 7.52% | &nbsp;&nbsp;Healthcare Revenue Bonds — 7.52% | &nbsp;&nbsp;Healthcare Revenue Bonds — 7.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple Valley, Minnesota |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior Living, LLC Project 2nd Tier)<br> Series B 5.25% 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;915000 | &nbsp;&nbsp;&nbsp;&nbsp; 644617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arizona Health Facilities Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Scottsdale Lincoln Hospital Project)<br> 5.00% 12/1/30 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5125800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Children's Hospital of Orange County)<br> Series A 2.125% 11/1/41 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3410100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Kaiser Permanente)<br> Series A-2 5.00% 11/1/47 | 4600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5235766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Sutter Health)<br> Series A 5.00% 11/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp; 803601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado Health Facilities Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(AdventHealth Obligated Group)<br> Series A 4.00% 11/15/46 | 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6599810 |

---

8 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado Health Facilities Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CommonSpirit Health) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 8/1/37 | 1000000 | &nbsp;&nbsp;$933150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 5.00% 8/1/37 | 1105000 | &nbsp;&nbsp;&nbsp;&nbsp; 1147222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Hamilton, Ohio Hospital Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cincinnati Children's Hospital Medical Center)<br> Series CC 5.00% 11/15/49 | 3540000 | &nbsp;&nbsp;&nbsp;&nbsp; 3908797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cuyahoga County, Ohio |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Metrohealth System)<br> 5.00% 2/15/37 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1023390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Escambia County, Florida Health Facilities Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Baptist Helathcare Obliagted Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp; 571429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 8/15/50 | 1950000 | &nbsp;&nbsp;&nbsp;&nbsp; 1657383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gainesville & Hall County, Georgia Hospital Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Northeast Georgia Health System Project)<br> Series A 3.00% 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp; 355093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glendale, Arizona Industrial Development Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Glencroft Retirement Community Project)<br> 5.25% 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp; 634296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Royal Oaks Inspirata Pointe Project)<br> Series A 5.00% 5/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 471230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Royal Oaks Life Care Community) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp; 595027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 5/15/30 | 1385000 | &nbsp;&nbsp;&nbsp;&nbsp; 1277704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Terraces of Phoenix Project)<br> Series A 5.00% 7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp; 719845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Henrico County, Virginia Economic Development<br> Authority Residential Care Facility Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Westminster Cantebury Richmond)<br> Series A 5.00% 10/1/52 | 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1815187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Westminster Canterbury Richmond) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp; 687772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp; 549533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(NorthShore - Edward-Elmhurst Health Credit Group)<br> Series A 5.00% 8/15/51 | 5490000 | &nbsp;&nbsp;&nbsp;&nbsp; 5774272 |

---

NQ-037 [11/22] 01/23 (2679874) 9

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Finance Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Admiral at the Lake Project)<br> 5.50% 5/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;$630831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Finance Authority Senior Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(PHS Council Bluffs, Inc. Project)<br> 5.00% 8/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 451470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kalispell, Montana Housing and Healthcare Facilities<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Immanuel Lutheran Corporation Project)<br> Series A 5.25% 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp; 610231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lancaster County, Pennsylvania Hospital Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(University of Pennsylvania Health System Obligation)<br> Series A 5.00% 8/15/33 | 2430000 | &nbsp;&nbsp;&nbsp;&nbsp; 2591595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maricopa County, Arizona Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Banner Health Obligation Group)<br> Series A 5.00% 1/1/32 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3212160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Christian Care Surprise, Inc. Project)<br> 144A 5.75% 1/1/36 # | 1540000 | &nbsp;&nbsp;&nbsp;&nbsp; 1199152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland Health & Higher Educational Facilities<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Adventist Healthcare Obligated)<br> Series A 5.50% 1/1/36 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2097920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 12/1/40 | 2185000 | &nbsp;&nbsp;&nbsp;&nbsp; 2143660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monroe County, New York Industrial Development<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Rochester Regional Health Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 3.00% 12/1/40 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 713690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 4.00% 12/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moon, Pennsylvania Industrial Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Baptist Homes Society Obligation)<br> 5.625% 7/1/30 | 2440000 | &nbsp;&nbsp;&nbsp;&nbsp; 2279033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Finance Authority Revenue, New Hampshire |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Springpoint Senior Living Project)<br> 4.00% 1/1/51 | 1330000 | &nbsp;&nbsp;&nbsp;&nbsp; 1052655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Vista Project)<br> Series A 144A 5.25% 7/1/39 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 914970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hope, Texas Cultural Education Facilities Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Sanctuary LTC Project)<br> Series A-1 5.50% 1/1/57 | 1615000 | &nbsp;&nbsp;&nbsp;&nbsp; 1254532 |

---

10 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Orange Regional Medical Center) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 12/1/31 # | 1000000 | &nbsp;&nbsp;$1019910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 12/1/32 # | 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1819116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 12/1/33 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1009410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ohio State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cleveland Clinic Health System Obligated Group)<br> Series A 4.00% 1/1/39 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1508700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oklahoma Development Finance Authority Health<br> System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.25% 8/15/48 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1784180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(OU Medicine Project)<br> Series B 5.25% 8/15/43 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 919570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing<br> Authority First Mortgage Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Tapestry Moon Senior Housing Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 6.50% 12/1/38 #, ‡ | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 380000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 6.75% 12/1/53 #, ‡ | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp; 332500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prince George's County, Maryland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Collington Episcopal Life Care Community)<br> 5.00% 4/1/30 | 2880000 | &nbsp;&nbsp;&nbsp;&nbsp; 2743747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salem, Oregon Hospital Facility Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Manor Project)<br> 4.00% 5/15/40 | 1450000 | &nbsp;&nbsp;&nbsp;&nbsp; 1197932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seminole County, Florida Industrial Development<br> Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Legacy Pointe at UCF Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 11/15/39 | 5340000 | &nbsp;&nbsp;&nbsp;&nbsp; 4514329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-1 4.25% 11/15/26 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2770860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tempe, Arizona Industrial Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Mirabella at ASU Project)<br> Series A 144A 6.00% 10/1/37 # | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1097448 |
|  |  | &nbsp;&nbsp;&nbsp; 84374133 |
| &nbsp;&nbsp;Housing Revenue Bonds — 0.43% | &nbsp;&nbsp;Housing Revenue Bonds — 0.43% | &nbsp;&nbsp;Housing Revenue Bonds — 0.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North Carolina Housing Finance Agency Home<br> Ownership Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% 7/1/42 | 4775000 | &nbsp;&nbsp;&nbsp;&nbsp; 4860329 |
|  |  | &nbsp;&nbsp;&nbsp; 4860329 |

---

NQ-037 [11/22] 01/23 (2679874) 11

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Lease Revenue Bonds — 7.91% | &nbsp;&nbsp;Lease Revenue Bonds — 7.91% | &nbsp;&nbsp;Lease Revenue Bonds — 7.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Lancer Plaza Project)<br> 5.125% 11/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;$110380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kansas City, Missouri Industrial Development Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Kansas City International Airport Terminal Modernization Project)<br> Series B 5.00% 3/1/49 (AGM) (AMT) | 6880000 | &nbsp;&nbsp;&nbsp;&nbsp; 7016086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles County, California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Disney Concert Hall Parking)<br> 5.00% 3/1/23 | 2395000 | &nbsp;&nbsp;&nbsp;&nbsp; 2410424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Pier & Exposition Authority, Illinois |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(McCormick Place Expansion Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 3.192% 12/15/56 (BAM) ^ | 12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2171880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 12/15/42 | 2220000 | &nbsp;&nbsp;&nbsp;&nbsp; 1999088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 12/15/42 (BAM) | 2520000 | &nbsp;&nbsp;&nbsp;&nbsp; 2316157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 12/15/47 | 11560000 | &nbsp;&nbsp;&nbsp;&nbsp; 10042866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/15/50 (BAM) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 878980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/15/52 | 3370000 | &nbsp;&nbsp;&nbsp;&nbsp; 2861534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/15/52 (BAM) | 1415000 | &nbsp;&nbsp;&nbsp;&nbsp; 1234135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(NJ Transit Transportation Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 11/1/38 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 965610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 11/1/39 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 950930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Portal North Bridge Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 547365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/1/31 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1116230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey State Transportation Trust Fund Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Transportation Program Bonds)<br> Series BB 4.00% 6/15/46 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4559750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Transportation System Bonds) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/15/35 | 1810000 | &nbsp;&nbsp;&nbsp;&nbsp; 1791719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/15/25 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5284400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 6/15/29 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1581060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.247% 12/15/38 ^ | 9380000 | &nbsp;&nbsp;&nbsp;&nbsp; 4501931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series CC 5.25% 6/15/39 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2152914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series CC 5.25% 6/15/41 | 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4809985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Transportation System)<br> Series A 5.499% 12/15/39 ^ | 15910000 | &nbsp;&nbsp;&nbsp;&nbsp; 6743453 |

---

12 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Lease Revenue Bonds (continued) | &nbsp;&nbsp;Lease Revenue Bonds (continued) | &nbsp;&nbsp;Lease Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City, New York Transitional Finance Authority<br> Building Aid Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series S-1 5.00% 7/15/31 | 5000000 | &nbsp;&nbsp;$5203500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Liberty Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Port Authority Consolidated Bonds)<br> Series 1WTC 2.75% 2/15/44 | 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7152100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Liberty Development Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4 World Trade Center Project)<br> Series A 3.00% 11/15/51 (BAM) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 736970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virginia College Building Authority Educational<br> Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21st Century College And Equipment Programs)<br> Series A 5.00% 2/1/29 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4521320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virginia Public Building Public Facilities Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 8/1/39 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5091200 |
|  |  | &nbsp;&nbsp;&nbsp; 88751967 |
| &nbsp;&nbsp;Local General Obligation Bonds — 3.55% | &nbsp;&nbsp;Local General Obligation Bonds — 3.55% | &nbsp;&nbsp;Local General Obligation Bonds — 3.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago, Illinois |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 1/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp; 644569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.50% 1/1/35 | 1980000 | &nbsp;&nbsp;&nbsp;&nbsp; 2048033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 1/1/26 | 1280000 | &nbsp;&nbsp;&nbsp;&nbsp; 1302323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago, Illinois Board of Education |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp; 837029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 4/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp; 324291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Dedicated Revenues) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 12/1/34 | 2160000 | &nbsp;&nbsp;&nbsp;&nbsp; 2150172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 5.00% 12/1/31 | 2160000 | &nbsp;&nbsp;&nbsp;&nbsp; 2176416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howard Country, Maryland Consolidated Public<br> Improvement Project |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 8/15/35 | 2065000 | &nbsp;&nbsp;&nbsp;&nbsp; 2153155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Independent School District of Boise City, Ada & Boise<br> Counties, Idaho |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019 5.00% 8/1/31 | 1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1510434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Unified School District/CA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series QRR 5.00% 7/1/23 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3045810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MIDA Golf and Equestrian Center Public Infrastructure<br> District, Utah |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.125% 6/1/36 # | 1790000 | &nbsp;&nbsp;&nbsp;&nbsp; 1474494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.25% 6/1/41 # | 2210000 | &nbsp;&nbsp;&nbsp;&nbsp; 1748044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City, New York |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 8/1/38 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5001250 |

---

NQ-037 [11/22] 01/23 (2679874) 13

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Local General Obligation Bonds (continued) | &nbsp;&nbsp;Local General Obligation Bonds (continued) | &nbsp;&nbsp;Local General Obligation Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City, New York |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/47 | 3500000 | &nbsp;&nbsp;$3743810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series E 5.00% 8/1/23 | 3685000 | &nbsp;&nbsp;&nbsp;&nbsp; 3745508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SubSeries B-1 5.00% 12/1/33 | 5365000 | &nbsp;&nbsp;&nbsp;&nbsp; 5759220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco, California Bay Area Rapid Transit<br> District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Election 2004)<br> Series D 5.00% 8/1/31 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2124760 |
|  |  | &nbsp;&nbsp;&nbsp; 39789318 |
| &nbsp;&nbsp;Pre-Refunded/Escrowed to Maturity Bonds — 3.85% | &nbsp;&nbsp;Pre-Refunded/Escrowed to Maturity Bonds — 3.85% | &nbsp;&nbsp;Pre-Refunded/Escrowed to Maturity Bonds — 3.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlanta, Georgia Water & Wastewater Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/35-25 § | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5279000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State Department of Water Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Water System) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series AS 5.00% 12/1/29-24 § | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp; 15697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrefunded Series AS 5.00% 12/1/29-24 § | 2680000 | &nbsp;&nbsp;&nbsp;&nbsp; 2818904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denton Independent School District, Texas |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> Series A 5.00% 8/15/40-25 (PSF) § | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4237520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;East Hempfield Township, Pennsylvania Industrial<br> Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Student Services - Student Housing Project at Millersville University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 7/1/39-24 § | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp; 905065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 7/1/46-24 § | 1425000 | &nbsp;&nbsp;&nbsp;&nbsp; 1473963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fort Worth, Texas Independent School District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> 5.00% 2/15/27-24 (PSF) § | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2055340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden State, California Tobacco Securitization<br> Corporate Settlement Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Asset-Backed Bonds)<br> Series A-1 5.00% 6/1/26 § | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp; 918994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Asset-Backed Enhanced)<br> Series A 5.00% 6/1/35-25 § | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3185640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Louisiana State Highway Improvement Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 6/15/29-24 § | 5195000 | &nbsp;&nbsp;&nbsp;&nbsp; 5384825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Touro College & University System)<br> Series A 5.25% 1/1/34-24 § | 1335000 | &nbsp;&nbsp;&nbsp;&nbsp; 1390216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orange County Health Facilities Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Presbyterian Retirement Communities Project)<br> 5.00% 8/1/36 § | 2125000 | &nbsp;&nbsp;&nbsp;&nbsp; 2214633 |

---

14 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Pre-Refunded/Escrowed to Maturity Bonds (continued) | &nbsp;&nbsp;Pre-Refunded/Escrowed to Maturity Bonds (continued) | &nbsp;&nbsp;Pre-Refunded/Escrowed to Maturity Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orlando &Orange County Expressway Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/28-23 § | 2300000 | &nbsp;&nbsp;$2333373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania State Turnpike Commission Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 12/1/43-23 § | 4555000 | &nbsp;&nbsp;&nbsp;&nbsp; 4662498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southwestern Illinois Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Memorial Group)<br> 7.125% 11/1/30-23 § | 2190000 | &nbsp;&nbsp;&nbsp;&nbsp; 2276198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Texas State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Transportation Commission Highway Improvement)<br> 5.00% 4/1/29-24 § | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3095400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington State Housing Finance Commission |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Heron's Key)<br> Series A 144A 7.00% 7/1/45-25 #, § | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp; 873384 |
|  |  | &nbsp;&nbsp;&nbsp; 43120650 |
| &nbsp;&nbsp;Special Tax Revenue Bonds — 13.88% | &nbsp;&nbsp;Special Tax Revenue Bonds — 13.88% | &nbsp;&nbsp;Special Tax Revenue Bonds — 13.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allentown, Pennsylvania Neighborhood Improvement<br> Zone Development Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp; 866940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp; 860855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(City Center Refunding Project)<br> 144A 5.00% 5/1/42 # | 3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 2860200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Camden County, New Jersey Improvement Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(County Capital Program)<br> Series A 5.00% 1/15/40 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5157750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celebration Pointe, Florida Community Development<br> District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75% 5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp; 831220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut State Transportation Infrastructure |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 10/1/30 | 3375000 | &nbsp;&nbsp;&nbsp;&nbsp; 3771799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dallas, Texas Convention Center Hotel Development<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/24 | 3420000 | &nbsp;&nbsp;&nbsp;&nbsp; 3427524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 1/1/23 | 5375000 | &nbsp;&nbsp;&nbsp;&nbsp; 5388599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denver, Colorado Convention Center Hotel Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/25 | 1900000 | &nbsp;&nbsp;&nbsp;&nbsp; 1946493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/26 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2576225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 615234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp; 917082 |

---

NQ-037 [11/22] 01/23 (2679874) 15

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Special Tax Revenue Bonds (continued) | &nbsp;&nbsp;Special Tax Revenue Bonds (continued) | &nbsp;&nbsp;Special Tax Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denver, Colorado Convention Center Hotel Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/32 | 1800000 | &nbsp;&nbsp;$1830942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/34 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1514340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/35 | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1208772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp; 904842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GDB Debt Recovery Authority of Puerto Rico |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Taxable)<br> 7.50% 8/20/40 | 38325821 | &nbsp;&nbsp;&nbsp;&nbsp; 32097875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harris County-Houston, Texas Sports Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior Lien)<br> Series A 5.00% 11/15/30 | 1805000 | &nbsp;&nbsp;&nbsp;&nbsp; 1859042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matching Fund Special Purpose Securitization |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/39 | 1785000 | &nbsp;&nbsp;&nbsp;&nbsp; 1800030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Revenue, New<br> York |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Climate Bond Certified)<br> Series B-2 5.00% 11/15/36 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5236000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miami-Dade County, Florida Special Obligation<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.505% 10/1/37 (BAM) ^ | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1545480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City, New York Transitional Finance Authority<br> Building Aid Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subseries S-3A 5.00% 7/15/28 | 4400000 | &nbsp;&nbsp;&nbsp;&nbsp; 4928572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City, New York Transitional Finance Authority<br> Future Tax Secured |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subseries A-1 5.00% 11/1/23 | 2865000 | &nbsp;&nbsp;&nbsp;&nbsp; 2929491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subseries B-1 5.00% 8/1/42 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5109000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subseries C 5.00% 11/1/27 | 4150000 | &nbsp;&nbsp;&nbsp;&nbsp; 4274749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subseries E-1 5.00% 2/1/35 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5348750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Urban Development Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(General Purpose)<br> Series A 5.00% 3/15/37 | 2290000 | &nbsp;&nbsp;&nbsp;&nbsp; 2473040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orange County, California Local Transportation<br> Authority Sales Tax Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 2/15/39 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2180700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Wisconsin |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(American Dream @ Meadowlands Project)<br> 144A 7.00% 12/1/50 # | 1010000 | &nbsp;&nbsp;&nbsp;&nbsp; 842714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Appreciation-Restructured)<br> Series A-1 0.077% 7/1/46 ^ | 9170000 | &nbsp;&nbsp;&nbsp;&nbsp; 2311023 |

---

16 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Special Tax Revenue Bonds (continued) | &nbsp;&nbsp;Special Tax Revenue Bonds (continued) | &nbsp;&nbsp;Special Tax Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Restructured) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 0.109% 7/1/51 ^ | 26441000 | &nbsp;&nbsp;$4975139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.55% 7/1/40 | 5765000 | &nbsp;&nbsp;&nbsp;&nbsp; 5369117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.75% 7/1/53 | 16063000 | &nbsp;&nbsp;&nbsp;&nbsp; 14676763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 5.00% 7/1/58 | 1330000 | &nbsp;&nbsp;&nbsp;&nbsp; 1261917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.329% 7/1/40 | 8237000 | &nbsp;&nbsp;&nbsp;&nbsp; 7462063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.329% 7/1/40 | 4516000 | &nbsp;&nbsp;&nbsp;&nbsp; 4091135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Richmond Heights, Missouri Tax Increment &<br> Transaction Sales Tax Revenue Refunding & Improvement |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Francis Place Redevelopment Project)<br> 5.625% 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp; 570363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utah Telecommunication Open Infrastructure Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 6/1/33 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1151720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 6/1/34 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1139520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 6/1/35 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1127390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 6/1/37 | 2100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2347485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50% 6/1/40 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2250220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington County Redevelopment Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Victory Centre Tax Increment Financing Project)<br> 5.00% 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 485435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wyandotte County, Kansas City, Kansas Unified<br> Government Special Obligation Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Sales Tax - Vacation Village Project Area 1 and 2A)<br> Series 2015A 5.00% 9/1/27 | 1055000 | &nbsp;&nbsp;&nbsp;&nbsp; 988672 |
|  |  | &nbsp;&nbsp;&nbsp; 155713542 |
| &nbsp;&nbsp;State General Obligation Bonds — 14.39% | &nbsp;&nbsp;State General Obligation Bonds — 14.39% | &nbsp;&nbsp;State General Obligation Bonds — 14.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 9/1/47 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1134720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Facilities)<br> 5.00% 11/1/30 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5111150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Various Purpose) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/36 | 3875000 | &nbsp;&nbsp;&nbsp;&nbsp; 4038641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/37 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2067900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 8/1/26 | 3120000 | &nbsp;&nbsp;&nbsp;&nbsp; 3389755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 10/1/26 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2725050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 8/1/28 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2252000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/30 | 1715000 | &nbsp;&nbsp;&nbsp;&nbsp; 1861684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/32 | 4100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4452805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/32 | 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1643950 |

---

NQ-037 [11/22] 01/23 (2679874) 17

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;State General Obligation Bonds (continued) | &nbsp;&nbsp;State General Obligation Bonds (continued) | &nbsp;&nbsp;State General Obligation Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Various Purpose) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 8/1/33 | 5000000 | &nbsp;&nbsp;$5236550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/35 | 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8574800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp; 530743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 9/1/30 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5100800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 9/1/30 | 5985000 | &nbsp;&nbsp;&nbsp;&nbsp; 6365048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/37 | 7500000 | &nbsp;&nbsp;&nbsp;&nbsp; 8226150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/37 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5200600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Restructured) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 7/1/37 | 7116845 | &nbsp;&nbsp;&nbsp;&nbsp; 5948045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 7/1/46 | 9820000 | &nbsp;&nbsp;&nbsp;&nbsp; 7584379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 5.75% 7/1/31 | 2340148 | &nbsp;&nbsp;&nbsp;&nbsp; 2403753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Subordinate)<br> 3.035% 11/1/43 • | 28078871 | &nbsp;&nbsp;&nbsp;&nbsp; 12810985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series F 5.00% 9/15/27 | 2790000 | &nbsp;&nbsp;&nbsp;&nbsp; 3072209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;District of Columbia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 6/1/34 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5146950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hawaii State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FW 4.00% 1/1/34 | 3010000 | &nbsp;&nbsp;&nbsp;&nbsp; 3148129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/28 | 1630000 | &nbsp;&nbsp;&nbsp;&nbsp; 1676308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/36 | 1965000 | &nbsp;&nbsp;&nbsp;&nbsp; 1999427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 2/1/30 | 2410000 | &nbsp;&nbsp;&nbsp;&nbsp; 2442439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 2/1/32 | 1015000 | &nbsp;&nbsp;&nbsp;&nbsp; 1027982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50% 5/1/39 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2638925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 3/1/41 | 1860000 | &nbsp;&nbsp;&nbsp;&nbsp; 1653875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.125% 12/1/29 | 4440000 | &nbsp;&nbsp;&nbsp;&nbsp; 4656672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 10/1/35 | 8830000 | &nbsp;&nbsp;&nbsp;&nbsp; 8320332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 4.00% 10/1/37 | 1710000 | &nbsp;&nbsp;&nbsp;&nbsp; 1584486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 4.00% 10/1/42 | 3835000 | &nbsp;&nbsp;&nbsp;&nbsp; 3375567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 5.00% 11/1/25 | 1220000 | &nbsp;&nbsp;&nbsp;&nbsp; 1259223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Rebuild Illinois Program) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 11/1/33 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1916600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 11/1/34 | 1190000 | &nbsp;&nbsp;&nbsp;&nbsp; 1130119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 11/1/35 | 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2072466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 11/1/38 | 1810000 | &nbsp;&nbsp;&nbsp;&nbsp; 1660747 |

---

18 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;State General Obligation Bonds (continued) | &nbsp;&nbsp;State General Obligation Bonds (continued) | &nbsp;&nbsp;State General Obligation Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/1/32 | 3440000 | &nbsp;&nbsp;$3641825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oregon State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Article XI-Q State Projects)<br> Series A 5.00% 5/1/44 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5406500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series E 5.00% 7/1/31 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3137340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series R 4.00% 7/1/29 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2151240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Various Purpose)<br> Series 2015-A-1 5.00% 8/1/30 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1556085 |
|  |  | &nbsp;&nbsp;&nbsp; 161334954 |
| &nbsp;&nbsp;Transportation Revenue Bonds — 17.19% | &nbsp;&nbsp;Transportation Revenue Bonds — 17.19% | &nbsp;&nbsp;Transportation Revenue Bonds — 17.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlanta, Georgia Department of Aviation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 7/1/32 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1106700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 7/1/33 | 2045000 | &nbsp;&nbsp;&nbsp;&nbsp; 2244633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bay Area, California Toll Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(San Francisco Bay Area)<br> Series S-7 4.00% 4/1/34 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1034510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago, Illinois Midway International Airport |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/28 (AMT) | 1905000 | &nbsp;&nbsp;&nbsp;&nbsp; 1928641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago, Illinois O'Hare International Airport Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 1/1/36 | 1180000 | &nbsp;&nbsp;&nbsp;&nbsp; 1179811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/37 (AMT) | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5190000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/32 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1032880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/33 | 1520000 | &nbsp;&nbsp;&nbsp;&nbsp; 1566831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(General-Airport-Senior Lien) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/36 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2664050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/37 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3181560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denver City & County, Colorado Airport System<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 12/1/43 (AMT) | 7890000 | &nbsp;&nbsp;&nbsp;&nbsp; 7304167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/43 (AMT) | 6300000 | &nbsp;&nbsp;&nbsp;&nbsp; 6433119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Florida Development Finance Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Brightline Florida Passenger Rail Expansion Project)<br> Series A 144A 7.25% 7/1/57 (AMT) #, • | 5900000 | &nbsp;&nbsp;&nbsp;&nbsp; 5863479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foothill-Eastern, California Transportation Corridor<br> Agency Toll Road Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior Lien)<br> Series A 4.00% 1/15/46 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 920730 |

---

NQ-037 [11/22] 01/23 (2679874) 19

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lee County, Florida Airport Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 10/1/33 | 4305000 | &nbsp;&nbsp;$4501825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Department of Airports |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 5/15/33 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;845000 | &nbsp;&nbsp;&nbsp;&nbsp; 923010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Nashville Airport Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.50% 7/1/41 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1626120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.50% 7/1/42 | 1855000 | &nbsp;&nbsp;&nbsp;&nbsp; 2008464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Revenue, New<br> York |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Green Bonds)<br> Subseries A-2 4.00% 11/15/41 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2631870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Washington D.C. Airports Authority Dulles<br> Toll Road Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Dulles Metrorail and Capital Improvement Projects)<br> Series B 4.00% 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp; 427148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miami-Dade County, Florida Aviation Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 10/1/37 | 5700000 | &nbsp;&nbsp;&nbsp;&nbsp; 5831442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monroe County, Florida Airport Revenu |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Key West International Airport) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022 5.00% 10/1/36 | 1235000 | &nbsp;&nbsp;&nbsp;&nbsp; 1287413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022 5.00% 10/1/37 | 1270000 | &nbsp;&nbsp;&nbsp;&nbsp; 1316571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022 5.00% 10/1/38 | 1360000 | &nbsp;&nbsp;&nbsp;&nbsp; 1403588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022 5.00% 10/1/40 | 1475000 | &nbsp;&nbsp;&nbsp;&nbsp; 1507052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey State Turnpike Authority Turnpike Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/33 | 1770000 | &nbsp;&nbsp;&nbsp;&nbsp; 1908432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series E 5.00% 1/1/32 | 5050000 | &nbsp;&nbsp;&nbsp;&nbsp; 5540203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Orleans, Louisiana Aviation Board |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(North Terminal Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/32 (AGM) (AMT) | 2900000 | &nbsp;&nbsp;&nbsp;&nbsp; 2966584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/33 (AGM) (AMT) | 2900000 | &nbsp;&nbsp;&nbsp;&nbsp; 2964177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Thruway Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 1/1/38 | 2135000 | &nbsp;&nbsp;&nbsp;&nbsp; 2113693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 1/1/39 | 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9816900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series J 5.00% 1/1/27 | 5705000 | &nbsp;&nbsp;&nbsp;&nbsp; 5833191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series J 5.00% 1/1/32 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2552150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K 5.00% 1/1/31 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5199000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corporation<br> Special Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(American Airlines Inc. John F. Kennedy International Airport Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022 5.00% 12/1/33 | 3955000 | &nbsp;&nbsp;&nbsp;&nbsp; 4098289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/35 (AMT) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1016010 |

---

20 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corporation<br> Special Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Delta AirLines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/30 (AMT) | 1950000 | &nbsp;&nbsp;$1899963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/33 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp; 800207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 7/1/35 | 2660000 | &nbsp;&nbsp;&nbsp;&nbsp; 2561261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Special<br> Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Delta Airlines Inc. LaGuardia Airport Terminals C & D Redevelopment Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% 10/1/45 (AMT) | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2285350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 10/1/40 (AMT) | 1125000 | &nbsp;&nbsp;&nbsp;&nbsp; 1124921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oklahoma State Turnpike Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/42 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5265500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania State Turnpike Commission Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/48 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2604250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 5.00% 12/1/40 | 2090000 | &nbsp;&nbsp;&nbsp;&nbsp; 2145176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 5.00% 12/1/45 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1018310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 12/1/45 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5131400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 12/1/43 | 1445000 | &nbsp;&nbsp;&nbsp;&nbsp; 1462759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series A-1 5.00% 12/1/29 | 3590000 | &nbsp;&nbsp;&nbsp;&nbsp; 3735144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phoenix, Arizona Civic Improvement Corporation<br> Airport Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Junior Lien) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/33 | 3355000 | &nbsp;&nbsp;&nbsp;&nbsp; 3505405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 7/1/49 (AMT) | 3900000 | &nbsp;&nbsp;&nbsp;&nbsp; 3958695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Port Authority of Guam Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Governmental)<br> Series A 5.00% 7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp; 227435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/15/25 (AMT) | 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7306670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 10/15/29 (AMT) | 3105000 | &nbsp;&nbsp;&nbsp;&nbsp; 3212899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(194th Series)<br> 5.00% 10/15/32 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2634250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(218th Series)<br> Series 218 4.00% 11/1/41 | 2480000 | &nbsp;&nbsp;&nbsp;&nbsp; 2336656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(221st Series)<br> Series 221 4.00% 7/15/36 | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1186284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regional Transportation District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Denver Transit Partners Eagle P3 Project)<br> Series A 4.00% 7/15/33 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 974720 |

---

NQ-037 [11/22] 01/23 (2679874) 21

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salt Lake City, Utah Airport Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/37 | 15000000 | &nbsp;&nbsp;$15573750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 538550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 645168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 7/1/33 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1072760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Diego County, California Regional Airport Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 7/1/46 (AMT) (BAM) | 2260000 | &nbsp;&nbsp;&nbsp;&nbsp; 2088082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Jersey Port, New Jersey |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Subordinated Marine Terminal) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/24 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp; 181346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/25 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp; 400358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/30 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp; 240444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/32 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp; 224196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/33 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp; 733785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/34 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp; 912111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/35 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp; 695696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/36 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp; 676579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/37 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp; 438033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Texas Private Activity Bond Surface Transportation<br> Corporate Senior Lien Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(NTE Mobility)<br> 7.00% 12/31/38 (AMT) | 3750000 | &nbsp;&nbsp;&nbsp;&nbsp; 3840638 |
|  |  | &nbsp;&nbsp;&nbsp; 192762994 |
| &nbsp;&nbsp;Water & Sewer Revenue Bonds — 2.24% | &nbsp;&nbsp;Water & Sewer Revenue Bonds — 2.24% | &nbsp;&nbsp;Water & Sewer Revenue Bonds — 2.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broward County, Florida Water & Sewer Utility<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 10/1/45 | 2640000 | &nbsp;&nbsp;&nbsp;&nbsp; 2620464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Great Lakes, Michigan Water Authority Water Supply<br> System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior Lien Bond)<br> Series C 5.00% 7/1/31 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3200340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hillsborough County, Florida Wastewater Impact Fee<br> Assessment Special Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021 5.00% 5/1/23 | 2335000 | &nbsp;&nbsp;&nbsp;&nbsp; 2357906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City, New York Municipal Water Finance<br> Authority Water & Sewer System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(General Resolution)<br> Series EE 5.00% 6/15/39 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5210550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sacramento County, California Sanitation Districts<br> Financing Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/50 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2709750 |

---

22 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Water & Sewer Revenue Bonds (continued) | &nbsp;&nbsp;Water & Sewer Revenue Bonds (continued) | &nbsp;&nbsp;Water & Sewer Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Antonio, Texas Water System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 5/15/32 | 1500000 | &nbsp;&nbsp;$1628475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 5/15/33 | 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2437493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tampa FL Water & Wastewater System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/52 | 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4968225 |
|  |  | &nbsp;&nbsp;&nbsp; 25133203 |
| &nbsp;&nbsp;&nbsp;**Total Municipal Bonds (cost $1,114,251,324)** | &nbsp;&nbsp;&nbsp;**Total Municipal Bonds (cost $1,114,251,324)** | &nbsp;&nbsp;&nbsp;**1080326990** |
| &nbsp;&nbsp;**Short-Term Investments — 4.23%** | &nbsp;&nbsp;**Short-Term Investments — 4.23%** | &nbsp;&nbsp;**Short-Term Investments — 4.23%** |
| &nbsp;&nbsp;Variable Rate Demand Notes — 4.23%¤ | &nbsp;&nbsp;Variable Rate Demand Notes — 4.23%¤ | &nbsp;&nbsp;Variable Rate Demand Notes — 4.23%¤ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indiana Housing & Community Development Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-3 1.00% 7/1/47 (SPA - TD Bank N.A.) | 11635000 | &nbsp;&nbsp;&nbsp;&nbsp; 11635000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles, California Department of Water & Power<br> System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series A-2 0.65% 7/1/51 (SPA - TD Bank N.A.) | 1335000 | &nbsp;&nbsp;&nbsp;&nbsp; 1335000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series A-1 0.60% 7/1/50<br> (SPA - Royal Bank of Canada) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series B-4 0.55% 7/1/35<br> (SPA - Barclays Bank) | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Health & Educational Facilities<br> Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K-1 1.00% 7/1/39 (LOC - TD Bank N.A.) | 2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2300000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mississippi Business Finance Corporation Gulf<br> Opportunity Zone Industrial Development Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Chevron U.S.A. Inc. Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 1.00% 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 1.00% 11/1/35 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 1.00% 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mississippi Business Finance Gulf Opportunity Zone<br> Industrial Development Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Chevron U.S.A. Inc. Project) Series C 1.00% 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp; 775000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D-4 1.00% 8/1/40 (LOC - TD Bank N.A.)• | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series E-5 1.00% 3/1/48 (LOC - TD Bank, N.A.) | 2150000 | &nbsp;&nbsp;&nbsp;&nbsp; 2150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City, New York |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiscal 2019 Series D 0.98% 12/1/47<br> (SPA - Barclays Bank) | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 |

---

NQ-037 [11/22] 01/23 (2679874) 23

------

Schedule of investments

Delaware Tax-Free USA Intermediate Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** |
| &nbsp;&nbsp;Variable Rate Demand Notes (continued) | &nbsp;&nbsp;Variable Rate Demand Notes (continued) | &nbsp;&nbsp;Variable Rate Demand Notes (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City, New York |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiscal 2023 Series A-3 1.00% 9/1/49 (SPA - Bank of Montreal) | 3500000 | &nbsp;&nbsp;$3500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series F-5 0.98% 6/1/44<br> (SPA - Barclays Bank) | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp; 900000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City, New York Municipal Water Finance<br> Authority Water & Sewer System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiscal 2008 Series BB-5 1.00% 6/15/33<br> (SPA - Bank of America, N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp; 880000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subseries A-2 1.00% 6/15/44<br> (SPA - Mizuho Bank) | 2570000 | &nbsp;&nbsp;&nbsp;&nbsp; 2570000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of California Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series AL-3 0.65% 5/15/48 | 3600000 | &nbsp;&nbsp;&nbsp;&nbsp; 3600000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of Delaware Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005 1.00% 11/1/35 (SPA - TD Bank N.A.) | 2025000 | &nbsp;&nbsp;&nbsp;&nbsp; 2025000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of Michigan Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(General Revenue) Series D-1 0.95% 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of North Carolina Hospitals at Chapel Hill |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 1.00% 2/15/31 (SPA - TD Bank N.A.) | 10045000 | &nbsp;&nbsp;&nbsp;&nbsp; 10045000 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $47,465,000)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $47,465,000)** | &nbsp;&nbsp;&nbsp; **47465000** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—100.55%<br> (cost $1,161,716,324)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**1127791990** |
| &nbsp;&nbsp;&nbsp;**Liabilities Net of Receivables and Other Assets—(0.55)%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(6222267)** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 103,845,107 Shares Outstanding—100.00%** |  | &nbsp;&nbsp;**$1121569723** |

---

---

| |
|:---|
| 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 November 30, 2022, the aggregate value of Rule 144A securities was $70,348,472, which represents 6.27% of the Fund's net assets. |
| Non-income producing security. Security is currently in default. |

---

24 NQ-037 [11/22] 01/23 (2679874)

------

(Unaudited)

---

| | |
|:---|:---|
| • | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at November 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. |
| ^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
| § | Pre-refunded bonds. Municipal bonds that are generally backed or secured by US Treasury bonds. For pre-refunded bonds, the stated maturity is followed by the year in which the bond will be pre-refunded. |
| ¤ | Tax-exempt obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid principal balance plus accrued interest upon a short notice period (generally up to 30 days) prior to specified dates either from the issuer or by drawing on a bank letter of credit, a guarantee, or insurance issued with respect to such instrument. Each rate shown is as of November 30, 2022. |

---

---

| |
|:---|
| **Summary of abbreviations:** |
| AGM – Insured by Assured Guaranty Municipal Corporation |
| AMT – Subject to Alternative Minimum Tax |
| BAM – Insured by Build America Mutual Assurance |
| ICE – Intercontinental Exchange, Inc. |
| LIBOR – London Interbank Offered Rate |
| LIBOR03M – ICE LIBOR USD 3 Month |
| LIBOR06M – ICE LIBOR USD 6 Month |
| LLC – Limited Liability Corporation |
| LOC – Letter of Credit |
| N.A. – National Association |
| NATL – Insured by National Public Finance Guarantee Corporation |
| PSF – Guaranteed by Permanent School Fund |
| SPA – Stand-by Purchase Agreement |
| USD – US Dollar |

---

NQ-037 [11/22] 01/23 (2679874) 25

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Delaware Group Tax Free Fund

- **b. Investment Company Act file number:** 811-03850

- **c. CIK number of Registrant:** 0000728352

- **d. LEI of Registrant:** 549300XYDSVXWKYZUD98

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Independence

  - **City:** PHILADELPHIA

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 800-523-1918

**Item A.2. Information about the Series.**

- **a. Name of Series:** Delaware Tax-Free USA Intermediate Fund

- **b. EDGAR series identifier (if any):** S000002404

- **c. LEI of Series:** AR7B6K97L47PY8QU8S91

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1152505641.99

**Total Liabilities:** $31438723.69

**Net Assets:** $1121066918.30

**Delayed Delivery Securities:** $11592609.15

**Cash Not Reported:** $9349703.83

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 1158.01623000 | **1-Year:** 43775.34744000 | **5-Year:** 149177.43769000 | **10-Year:** 471330.83007000 | **30-Year:** 78464.96383000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 840.65767000 | **5-Year:** 6943.87027000 | **10-Year:** 30396.42941000 | **30-Year:** 16013.39131000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006388 | -4.55%               | -1.33%               | 4.45%                |
| Class ID C000006390 | -4.62%               | -1.40%               | 4.39%                |
| Class ID C000074147 | -4.49%               | -1.29%               | 4.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4733474.55             | $-46486383.01                              |
| Month 2  | $-7251298.73             | $-9011922.35                               |
| Month 3  | $-4072826.20             | $48309028.34                               |

### Schedule of Portfolio Investments

| Name                           | Title                                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                              | CUSIP: 45204FQC2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   5490000 | PA      | $5774272.20   | 0.52%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  26441000 | PA      | $4975138.56   | 0.44%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TUSCALOOSA CNTY AL INDL DEV AU | Tuscaloosa County Industrial Development Authority                      | CUSIP: 90068FAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2945000 | PA      | $2445410.20   | 0.22%             | 2044-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                       | CUSIP: 249182LN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7890000 | PA      | $7304167.50   | 0.65%             | 2043-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                  | State of Washington                                                     | CUSIP: 93974DLX4<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3137340.00   | 0.28%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH PORT REVENUE    | Port Authority of Guam                                                  | CUSIP: 400652AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $227434.50    | 0.02%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL WSTWTR IM | County of Hillsborough FL Wastewater Impact Fee                         | CUSIP: 432349AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2335000 | PA      | $2357906.35   | 0.21%             | 2023-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD    | New Orleans Aviation Board                                              | CUSIP: 64763HFG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2964177.00   | 0.26%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH STUDE | Industrial Development Authority of the City of Phoenix/The             | CUSIP: 71885DCV2<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    350000 | PA      | $361676.00    | 0.03%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SPL OBLIG   | County of Miami-Dade FL                                                 | CUSIP: 59333N2A0<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $1545480.00   | 0.14%             | 2037-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU | New Jersey Turnpike Authority                                           | CUSIP: 646140CB7<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   5050000 | PA      | $5540203.50   | 0.49%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUNI ELEC UTILITY  | Missouri Joint Municipal Electric Utility Commission                    | CUSIP: 606094DR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $544620.00    | 0.05%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BOISE CITY ID INDEP SCH DIST   | Ada & Boise Counties Independent School District Boise City             | CUSIP: 097437SQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1510434.00   | 0.13%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUNI PWR-OHIO INC OH  | American Municipal Power Inc                                            | CUSIP: 02765URG1<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1309664.30   | 0.12%             | 2037-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP FAC REVENUE       | State of Ohio                                                           | CUSIP: 677561KR2<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508700.00   | 0.13%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                               | CUSIP: 64577XDN3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $547365.00    | 0.05%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO | Denver Convention Center Hotel Authority                                | CUSIP: 249189DP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1208772.00   | 0.11%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV | Colorado Health Facilities Authority                                    | CUSIP: 19648FKP8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1147222.05   | 0.10%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 4521526Z9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   8830000 | PA      | $8320332.40   | 0.74%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH | Kentucky Public Energy Authority                                        | CUSIP: 74440DBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4970600.00   | 0.44%             | 2049-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116CM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $800206.80    | 0.07%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                | CUSIP: 592250EY6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   3370000 | PA      | $2861534.40   | 0.26%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH ECON  | Arizona Industrial Development Authority                                | CUSIP: 040523AF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5520000 | PA      | $3864000.00   | 0.34%             | 2050-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE | City of Salt Lake City UT Airport Revenue                               | CUSIP: 795576GK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $645168.00    | 0.06%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF TEXAS TX PERMANENT UNI | Permanent University Fund - University of Texas System                  | CUSIP: 9151154F3<br>LEI: 549300GZUEUTLKVGLF98 | Long             | DBT              | MUN               | US        |   3715000 | PA      | $3854349.65   | 0.34%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE | City of Salt Lake City UT Airport Revenue                               | CUSIP: 795576GL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072760.00   | 0.10%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FL WTR & WSTWTR SYS REVE | City of Tampa FL Water & Wastewater System Revenue                      | CUSIP: 875291BN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4968225.00   | 0.44%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET NASHVILLE TN ARPT AUTH ARP | Metropolitan Nashville Airport Authority/The                            | CUSIP: 592190QX3<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1855000 | PA      | $2008464.15   | 0.18%             | 2042-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL WTR & SWR UTIL | Broward County FL Water & Sewer Utility Revenue                         | CUSIP: 115117NH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2640000 | PA      | $2620464.00   | 0.23%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO INDL DEV AUTH A | Kansas City Industrial Development Authority                            | CUSIP: 48504NBD0<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   6880000 | PA      | $7016086.40   | 0.63%             | 2049-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                     | CUSIP: 64966MHF9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5365000 | PA      | $5759220.20   | 0.51%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                  | State of Washington                                                     | CUSIP: 93974DHD3<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1556085.00   | 0.14%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALEM OR HOSP FAC AUTH REVENUE | Salem Hospital Facility Authority                                       | CUSIP: 794458GJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1197932.00   | 0.11%             | 2040-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063CZ94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8574800.00   | 0.76%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST               | Commonwealth of Massachusetts                                           | CUSIP: 57582RVU7<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $8226150.00   | 0.73%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH REVENUE    | Oregon State Facilities Authority                                       | CUSIP: 68608JXQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $845860.00    | 0.08%             | 2049-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PUB BLDG AUTH PUBL | Virginia Public Building Authority                                      | CUSIP: 928173AS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5091200.00   | 0.45%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | South Jersey Port Corp                                                  | CUSIP: 838530RE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $676579.20    | 0.06%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063D2G2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $530742.80    | 0.05%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | South Jersey Port Corp                                                  | CUSIP: 838530RB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $733785.15    | 0.07%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO | Denver Convention Center Hotel Authority                                | CUSIP: 249189DN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514340.00   | 0.14%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI HOTEL REVEN | Public Finance Authority                                                | CUSIP: 74447DAD9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1251456.25   | 0.11%             | 2062-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTH FOR COLORADO ST EN | Public Authority for Colorado Energy                                    | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3612450.00   | 0.32%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UTILITY DEBT SECURITIZATION AU | Utility Debt Securitization Authority                                   | CUSIP: 91802RBN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1594275.00   | 0.14%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4516000 | PA      | $4091134.72   | 0.36%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R | Arizona Industrial Development Authority                                | CUSIP: 04052BHW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $852285.00    | 0.08%             | 2049-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH STUDENT H | Illinois Finance Authority                                              | CUSIP: 45203KAM7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    265000 | PA      | $258117.95    | 0.02%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT | Allentown Neighborhood Improvement Zone Development Authority           | CUSIP: 018444BX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $866940.50    | 0.08%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI PROJ REVENU | Public Finance Authority                                                | CUSIP: 74444UAU6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3161670.00   | 0.28%             | 2042-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI WTR AUTH WTR SP | Great Lakes Water Authority Water Supply System Revenue                 | CUSIP: 39081JAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3200340.00   | 0.29%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT WORTH TX INDEP SCH DIST   | Fort Worth Independent School District                                  | CUSIP: 3494603P8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2055340.00   | 0.18%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUNI ELEC UTILITY  | Missouri Joint Municipal Electric Utility Commission                    | CUSIP: 606094DP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $383330.50    | 0.03%             | 2038-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY FL ARPT REVENUE    | County of Monroe FL Airport Revenue                                     | CUSIP: 610466AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1287413.40   | 0.11%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                | CUSIP: 592250FA7<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2520000 | PA      | $2316157.20   | 0.21%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063DQV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3875000 | PA      | $4038641.25   | 0.36%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 4521525N7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1916600.00   | 0.17%             | 2033-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TELECOMMUNICATION OPEN | Utah Telecommunication Open Infrastructure Agency                       | CUSIP: 91756SAQ6<br>LEI: 549300LCGT5UXUJ1LP77 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2250220.00   | 0.20%             | 2040-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 4521527G0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3835000 | PA      | $3375567.00   | 0.30%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDA GOLF & EQUESTRIAN CTR PUB | Mida Golf and Equestrian Center Public Infrastructure District          | CUSIP: 59561BAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2210000 | PA      | $1748043.70   | 0.16%             | 2041-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MAINE ST FIN AUTH              | Finance Authority of Maine                                              | CUSIP: 56042BBU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3490000 | PA      | $2400387.10   | 0.21%             | 2051-12-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063C5W6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3120000 | PA      | $3389755.20   | 0.30%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH AL COMMO | Southeast Energy Authority A Cooperative District                       | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5848480.00   | 0.52%             | 2053-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA      | Municipal Electric Authority of Georgia                                 | CUSIP: 626207W91<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6407875.00   | 0.57%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1261917.30   | 0.11%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P | Los Angeles Department of Water & Power Water System Revenue            | CUSIP: 544525A65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1335000.00   | 0.12%             | 2051-07-01      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116CN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4210000 | PA      | $4248058.40   | 0.38%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                     | City of Chicago IL                                                      | CUSIP: 167486D71<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1980000 | PA      | $2048032.80   | 0.18%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                  | CUSIP: 13080SBX1<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2215000 | PA      | $2255313.00   | 0.20%             | 2033-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FL INDL DEV AUTH | Seminole County Industrial Development Authority                        | CUSIP: 81669TAE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2770860.00   | 0.25%             | 2026-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                          | CUSIP: 646136WU1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |  15910000 | PA      | $6743453.50   | 0.60%             | 2039-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE AZ INDL DEV AUTH      | Glendale Industrial Development Authority                               | CUSIP: 378286JA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $634296.25    | 0.06%             | 2046-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO | Mississippi Business Finance Corp                                       | CUSIP: 60528ACD4<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.18%             | 2035-11-01      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUNI ELEC UTILITY  | Missouri Joint Municipal Electric Utility Commission                    | CUSIP: 606094DT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1082510.00   | 0.10%             | 2042-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HLTH & EDUCTN | Massachusetts Health & Educational Facilities Authority                 | CUSIP: 57586EQ87<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2300000.00   | 0.21%             | 2039-07-01      | Variable      | 0.84%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                    | CUSIP: 167593K92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5190000.00   | 0.46%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH | Maricopa County Industrial Development Authority                        | CUSIP: 56681NGF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $660020.80    | 0.06%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO | Denver Convention Center Hotel Authority                                | CUSIP: 249189DK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $917082.00    | 0.08%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAY AREA CA TOLL AUTH TOLL BRI | Bay Area Toll Authority                                                 | CUSIP: 072024VJ8<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034510.00   | 0.09%             | 2034-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN | Florida Development Finance Corp                                        | CUSIP: 34061UFS2<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    410000 | PA      | $427695.60    | 0.04%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                     | CUSIP: 64966LU41<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.08%             | 2044-06-01      | Variable      | 0.86%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH  | Parish of St John the Baptist LA                                        | CUSIP: 79020FAX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2176425.00   | 0.19%             | 2037-06-01      | Variable      | 2.10%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | South Jersey Port Corp                                                  | CUSIP: 838530QS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $181346.40    | 0.02%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST                      | State of Oregon                                                         | CUSIP: 68609TLP1<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5406500.00   | 0.48%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH ST | Tobacco Securitization Authority of Southern California                 | CUSIP: 888804BA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9655000 | PA      | $1490925.10   | 0.13%             | 2046-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MIDWAY ARPT REVENUE | Chicago Midway International Airport                                    | CUSIP: 167562NR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1905000 | PA      | $1928641.05   | 0.17%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5230000 | PA      | $4678810.30   | 0.42%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 4521525Q0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2072466.00   | 0.18%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH | Maricopa County Industrial Development Authority                        | CUSIP: 56681NEU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $234675.00    | 0.02%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                      | CUSIP: 649907M66<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1390215.60   | 0.12%             | 2034-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   9820000 | PA      | $7584378.80   | 0.68%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECON DEV AUTH  | Henrico County Economic Development Authority                           | CUSIP: 42605QHK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $687771.50    | 0.06%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R | Arizona Industrial Development Authority                                | CUSIP: 04052BQH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1507540.00   | 0.13%             | 2061-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | South Jersey Port Corp                                                  | CUSIP: 838530QT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $400358.40    | 0.04%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116FH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3955000 | PA      | $4098289.65   | 0.37%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063CYL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5985000 | PA      | $6365047.50   | 0.57%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                     | City of Chicago IL                                                      | CUSIP: 167486SQ3<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    640000 | PA      | $644569.60    | 0.06%             | 2029-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST TELECOMMUNICATION OPEN | Utah Telecommunication Open Infrastructure Agency                       | CUSIP: 91756SAP8<br>LEI: 549300LCGT5UXUJ1LP77 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2347485.00   | 0.21%             | 2037-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNIV OF MICHIGAN MI            | University of Michigan                                                  | CUSIP: 914455MB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.04%             | 2024-12-01      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH STUDENT H | Illinois Finance Authority                                              | CUSIP: 45203KAF2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400320.00    | 0.04%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QVX7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   4630000 | PA      | $3437775.00   | 0.31%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI | Golden State Tobacco Securitization Corp                                | CUSIP: 38122NZA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $918994.50    | 0.08%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                      | CUSIP: 649838FX2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   7530000 | PA      | $8120803.80   | 0.72%             | 2027-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH STUDENT H | Illinois Finance Authority                                              | CUSIP: 45203KAK1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    390000 | PA      | $384641.40    | 0.03%             | 2030-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                        | CUSIP: 13032URM2<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    760000 | PA      | $803601.20    | 0.07%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENTON TX INDEP SCH DIST       | Denton Independent School District                                      | CUSIP: 249002DY9<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4237520.00   | 0.38%             | 2040-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA BAY AREA RAPI | San Francisco Bay Area Rapid Transit District                           | CUSIP: 797661VN2<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2124760.00   | 0.19%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO | Denver Convention Center Hotel Authority                                | CUSIP: 249189DE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2576225.00   | 0.23%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT | California Educational Facilities Authority                             | CUSIP: 130178JD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5992150.00   | 0.53%             | 2039-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                     | CUSIP: 13058TRB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $946190.00    | 0.08%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                     | CUSIP: 64966LCP4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.07%             | 2040-08-01      | Variable      | 0.84%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                     | CUSIP: 64966QAA8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2150000.00   | 0.19%             | 2048-03-01      | Variable      | 0.84%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A | South Carolina Public Service Authority                                 | CUSIP: 837151T33<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1763257.00   | 0.16%             | 2038-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GLENDALE AZ INDL DEV AUTH SENI | Glendale Industrial Development Authority                               | CUSIP: 378287AZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $471230.00    | 0.04%             | 2041-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECON DEV AUTH  | Henrico County Economic Development Authority                           | CUSIP: 42605QHM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $549533.25    | 0.05%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N | Tobacco Settlement Financing Corp                                       | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1901687.70   | 0.17%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE    | City of Houston TX Airport System Revenue                               | CUSIP: 4423487H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3370000 | PA      | $3376942.20   | 0.30%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATCHING FUND SPL PURPOSE SECU | Matching Fund Special Purpose Securitization Corp                       | CUSIP: 57665NAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1785000 | PA      | $1800029.70   | 0.16%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116DQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016010.00   | 0.09%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN | New Hope Cultural Education Facilities Finance Corp                     | CUSIP: 64542PGC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1254532.00   | 0.11%             | 2057-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST TURNPIKE AUTH      | Oklahoma Turnpike Authority                                             | CUSIP: 679111WS9<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5265500.00   | 0.47%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH MIDWSTRN DISA | Iowa Finance Authority                                                  | CUSIP: 46246SAU9<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   4135000 | PA      | $3920393.50   | 0.35%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH ST | Tobacco Securitization Authority of Southern California                 | CUSIP: 888804BB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1630000 | PA      | $196920.30    | 0.02%             | 2046-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2340148 | PA      | $2403753.22   | 0.21%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE CNTY KS KANSAS CITY  | Wyandotte County-Kansas City Unified Government                         | CUSIP: 98267VDC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $988672.15    | 0.09%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX WTR REVENUE     | San Antonio Water System                                                | CUSIP: 79642B7L1<br>LEI: 549300S7VENCVRZAA322 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1628475.00   | 0.15%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP SURFACE T | Florida Development Finance Corp                                        | CUSIP: 34061YAD2<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1539530.10   | 0.14%             | 2049-01-01      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| UNIV OF DELAWARE DE REVENUE    | University of Delaware                                                  | CUSIP: 91425MAZ0<br>LEI: KPIOJCFMR70NWLS6O145 | Long             | DBT              | MUN               | US        |   2025000 | PA      | $2025000.00   | 0.18%             | 2035-11-01      | Variable      | 0.84%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU          | Chicago Board of Education                                              | CUSIP: 167505SX5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2160000 | PA      | $2176416.00   | 0.19%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                      | CUSIP: 64990CPW5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019910.00   | 0.09%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2638925.00   | 0.24%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO | Mississippi Business Finance Corp                                       | CUSIP: 60528ABH6<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.04%             | 2030-12-01      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE | City of Salt Lake City UT Airport Revenue                               | CUSIP: 795576GJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538550.00    | 0.05%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                                 | CUSIP: 73358WYE8<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   3105000 | PA      | $3212898.75   | 0.29%             | 2029-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | South Jersey Port Corp                                                  | CUSIP: 838530RA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $224195.55    | 0.02%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P | Los Angeles Department of Water & Power                                 | CUSIP: 544532BQ6<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.04%             | 2050-07-01      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | South Jersey Port Corp                                                  | CUSIP: 838530RD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $695695.50    | 0.06%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT | California Educational Facilities Authority                             | CUSIP: 130179SD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1270757.50   | 0.11%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOWARD CNTY MD                 | County of Howard MD                                                     | CUSIP: 44256PWB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2153154.85   | 0.19%             | 2035-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                    | CUSIP: 167593L91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3181560.00   | 0.28%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                               | CUSIP: 64577XBC9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $950930.00    | 0.08%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Building Aid Revenue       | CUSIP: 64972HVK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5203500.00   | 0.46%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE  | Metropolitan Transportation Authority                                   | CUSIP: 59261AK97<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2631870.00   | 0.23%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT REVENUE        | City of Atlanta GA Department of Aviation                               | CUSIP: 04780ME47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2045000 | PA      | $2244632.90   | 0.20%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUNI ELEC UTILITY  | Missouri Joint Municipal Electric Utility Commission                    | CUSIP: 606094DQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547525.00    | 0.05%             | 2039-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 4521527B1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1584486.00   | 0.14%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                     | CUSIP: 64966QXW5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3743810.00   | 0.33%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116CP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3015060.00   | 0.27%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUNI ELEC UTILITY  | Missouri Joint Municipal Electric Utility Commission                    | CUSIP: 606094DS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $705107.00    | 0.06%             | 2041-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CH | California Municipal Finance Authority                                  | CUSIP: 13048DCG1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $961460.00    | 0.09%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT  | Buckeye Tobacco Settlement Financing Authority                          | CUSIP: 118217CW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7060000 | PA      | $5063149.60   | 0.45%             | 2048-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063CS50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4452805.00   | 0.40%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IA TOB | Iowa Tobacco Settlement Authority                                       | CUSIP: 888805CE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $270381.00    | 0.02%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV  | Westchester County Local Development Corp                               | CUSIP: 95737TBB1<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   4150000 | PA      | $4168882.50   | 0.37%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ CIVIC IMPT CORP ARP | City of Phoenix Civic Improvement Corp                                  | CUSIP: 71883MJZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3355000 | PA      | $3505404.65   | 0.31%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL PLAINS ENERGY PROJ NE G | Central Plains Energy Project                                           | CUSIP: 154871CP0<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |    250000 | PA      | $258932.50    | 0.02%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN  | New York City Municipal Water Finance Authority                         | CUSIP: 64972FPP5<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    880000 | PA      | $880000.00    | 0.08%             | 2033-06-15      | Variable      | 0.80%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN | California Pollution Control Financing Authority                        | CUSIP: 130536RA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $625000.00    | 0.06%             | 2039-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9170000 | PA      | $2311023.40   | 0.21%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |  28078870 | PA      | $12810984.60  | 1.14%             | 2043-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                     | CUSIP: 45129GFT7<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    710000 | PA      | $512797.50    | 0.05%             | 2046-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO | Denver Convention Center Hotel Authority                                | CUSIP: 249189DL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1830942.00   | 0.16%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| E HEMPFIELD TWP PA INDL DEV AU | East Hempfield Township Industrial Development Authority                | CUSIP: 273007BE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1473963.00   | 0.13%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QKW1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1150700.00   | 0.10%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH  | Orange County Health Facilities Authority                               | CUSIP: 68450LFM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2214632.50   | 0.20%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A | California Community Choice Financing Authority                         | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1885743.00   | 0.17%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                      | CUSIP: 83704DAF3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1187500.00   | 0.11%             | 2038-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709224DF3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   3590000 | PA      | $3735143.70   | 0.33%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L | New York Liberty Development Corp                                       | CUSIP: 649519EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $736970.00    | 0.07%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI | Washington State Housing Finance Commission                             | CUSIP: 939783SG2<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    800000 | PA      | $873384.00    | 0.08%             | 2045-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| INLAND EMPIRE CA TOBACCO SECUR | Inland Empire Tobacco Securitization Corp                               | CUSIP: 45734TAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  74090000 | PA      | $3405176.40   | 0.30%             | 2057-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY CA LOCAL TRANSPRTN | Orange County Local Transportation Authority Sales Tax Revenue          | CUSIP: 684273HZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2180700.00   | 0.19%             | 2039-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A | California Community Choice Financing Authority                         | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000540.00   | 0.27%             | 2053-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH | Maricopa County Industrial Development Authority                        | CUSIP: 56682PBT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1199151.80   | 0.11%             | 2036-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8237000 | PA      | $7462063.04   | 0.67%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND NY PWR AUTH ELEC S | Long Island Power Authority                                             | CUSIP: 542691AN0<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |    250000 | PA      | $270492.50    | 0.02%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA DEV AUTH REVENU | Development Authority for Fulton County                                 | CUSIP: 36005FCR4<br>LEI: 549300533NJL38F4K144 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3350728.00   | 0.30%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission Oil Franchise Tax Revenue              | CUSIP: 709221VF9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2604250.00   | 0.23%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 452152Q46<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1259223.00   | 0.11%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN | Florida Development Finance Corp                                        | CUSIP: 34061UFT0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    400000 | PA      | $416176.00    | 0.04%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE AZ INDL DEV AUTH      | Glendale Industrial Development Authority                               | CUSIP: 378286JT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $719845.00    | 0.06%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                          | CUSIP: 64613CBM9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4559750.00   | 0.41%             | 2046-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TELECOMMUNICATION OPEN | Utah Telecommunication Open Infrastructure Agency                       | CUSIP: 91756SAL7<br>LEI: 549300LCGT5UXUJ1LP77 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1151720.00   | 0.10%             | 2033-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 4521525T4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1660747.40   | 0.15%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   7116845 | PA      | $5948045.55   | 0.53%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE       | District of Columbia                                                    | CUSIP: 25483VWC4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    740000 | PA      | $658215.20    | 0.06%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ENERGY ACQUISITION C | Tennessee Energy Acquisition Corp                                       | CUSIP: 88044TAL3<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1340924.00   | 0.12%             | 2052-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU | New Jersey Turnpike Authority                                           | CUSIP: 6461396R1<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1908431.70   | 0.17%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063CSZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5236550.00   | 0.47%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH | Maricopa County Industrial Development Authority                        | CUSIP: 56681NGB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $438375.40    | 0.04%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN | California Pollution Control Financing Authority                        | CUSIP: 13054WAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3628553.00   | 0.32%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY-HOUSTON TX SPORTS  | Harris County-Houston Sports Authority                                  | CUSIP: 413890DE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1859041.70   | 0.17%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP V | Tobacco Settlement Financing Corp/VA                                    | CUSIP: 88880NAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1215312.50   | 0.11%             | 2046-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH SP | New Jersey Economic Development Authority                               | CUSIP: 64578CBW0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1890000 | PA      | $1901925.90   | 0.17%             | 2030-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN | M-S-R Energy Authority                                                  | CUSIP: 55374SAF7<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |    580000 | PA      | $703719.80    | 0.06%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH D | Metropolitan Washington Airports Authority Dulles Toll Road Revenue     | CUSIP: 592643DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $427147.70    | 0.04%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Building Aid Revenue       | CUSIP: 64972HX72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4928572.00   | 0.44%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH       | New York State Thruway Authority                                        | CUSIP: 650009ZV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5705000 | PA      | $5833191.35   | 0.52%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QUV2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1267537.50   | 0.11%             | 2019-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                                 | CUSIP: 73358WR55<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7306670.00   | 0.65%             | 2025-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                      | CUSIP: 64990CPX3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1819116.00   | 0.16%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE AZ INDL DEV AUTH SENI | Glendale Industrial Development Authority                               | CUSIP: 378287AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1277704.05   | 0.11%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                     | CUSIP: 45129GEC5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    450000 | PA      | $446305.50    | 0.04%             | 2035-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                 | State of Connecticut                                                    | CUSIP: 20772KEN5<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   2790000 | PA      | $3072208.50   | 0.27%             | 2027-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IA TOB | Iowa Tobacco Settlement Authority                                       | CUSIP: 888805CD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $546240.00    | 0.05%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORLANDO & ORANGE CNTY FL EXPRE | Orlando-Orange County Expressway Authority                              | CUSIP: 686543TW9<br>LEI: 549300JL23Z3Z64M6K65 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2333373.00   | 0.21%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS | New York Counties Tobacco Trust V                                       | CUSIP: 649441AE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20000000 | PA      | $682400.00    | 0.06%             | 2060-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL EDUCTNL FAC | Miami-Dade County Educational Facilities Authority                      | CUSIP: 59333ALU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1129545.20   | 0.10%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH STUDE | Industrial Development Authority of the City of Phoenix/The             | CUSIP: 71885DCX8<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    235000 | PA      | $241199.30    | 0.02%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                                 | CUSIP: 914460PF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1855000 | PA      | $1962998.10   | 0.18%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL | Chandler Industrial Development Authority                               | CUSIP: 158862BY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2683746.00   | 0.24%             | 2037-12-01      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO | Denver Convention Center Hotel Authority                                | CUSIP: 249189DH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $615234.00    | 0.05%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CELEBRATION POINTE CMNTY DEV D | Celebration Pointe Community Development District No 1                  | CUSIP: 15102HAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201320.00    | 0.02%             | 2024-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                        | CUSIP: 13032UMP0<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   4600000 | PA      | $5235766.00   | 0.47%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                              | CUSIP: 544445SN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    845000 | PA      | $923010.40    | 0.08%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 7092242V0<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1462759.04   | 0.13%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 7092242U2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   4555000 | PA      | $4662498.01   | 0.42%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QXC1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   2990000 | PA      | $2197650.00   | 0.20%             | 2019-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                       | State of Texas                                                          | CUSIP: 882723RG6<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3095400.00   | 0.28%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH GEN R | New York State Thruway Authority                                        | CUSIP: 650010CA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2135000 | PA      | $2113692.70   | 0.19%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTILITY DEBT SECURITIZATION AU | Utility Debt Securitization Authority                                   | CUSIP: 91802RBT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10524200.00  | 0.94%             | 2036-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV | Colorado Health Facilities Authority                                    | CUSIP: 19648FSG0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6599810.00   | 0.59%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                | CUSIP: 592250FC3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1234134.70   | 0.11%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                                 | CUSIP: 73358WZD9<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2634250.00   | 0.23%             | 2032-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES | University of California                                                | CUSIP: 91412GSH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6600000 | PA      | $6600000.00   | 0.59%             | 2048-05-15      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | South Jersey Port Corp                                                  | CUSIP: 838530RF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $438032.40    | 0.04%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1124921.25   | 0.10%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND NY PWR AUTH ELEC S | Long Island Power Authority                                             | CUSIP: 542691AQ3<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072320.00   | 0.10%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO | Denver Convention Center Hotel Authority                                | CUSIP: 249189DQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $904842.00    | 0.08%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA | California School Finance Authority                                     | CUSIP: 13059TBC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100368.00    | 0.01%             | 2024-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                | CUSIP: 592250EW0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2220000 | PA      | $1999087.80   | 0.18%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70869PLZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $332500.00    | 0.03%             | 2053-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GAINESVILLE & HALL CNTY GA HOS | Gainesville & Hall County Hospital Authority                            | CUSIP: 362762QQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $355092.50    | 0.03%             | 2051-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV | City of Apple Valley MN                                                 | CUSIP: 03789YDU7<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    915000 | PA      | $644617.50    | 0.06%             | 2037-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST               | Commonwealth of Massachusetts                                           | CUSIP: 57582REH5<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5200600.00   | 0.46%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063DHM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2252000.00   | 0.20%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                        | CUSIP: 13032UZP6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3410100.00   | 0.30%             | 2041-11-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| CUYAHOGA CNTY OH HOSP REVENUE  | County of Cuyahoga OH                                                   | CUSIP: 2322655P9<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023390.00   | 0.09%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT RIVER AZ PROJ AGRIC IMPT& | Salt River Project Agricultural Improvement & Power District            | CUSIP: 79574CAS2<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4188040.00   | 0.37%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                  | CUSIP: 13080SAR5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    110000 | PA      | $110379.50    | 0.01%             | 2023-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| UNIV OF NORTH CAROLINA NC HOSP | University of North Carolina at Chapel Hill                             | CUSIP: 91471FAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10045000 | PA      | $10045000.00  | 0.90%             | 2031-02-15      | Variable      | 0.84%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R | Arizona Industrial Development Authority                                | CUSIP: 04052BDB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $848855.00    | 0.08%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL ARPT REVENUE       | County of Lee FL Airport Revenue                                        | CUSIP: 523470GA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4305000 | PA      | $4501824.60   | 0.40%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEO L SMITH II GA CONGRESS CTR | George L Smith II Congress Center Authority                             | CUSIP: 37255MAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2210000 | PA      | $1798829.50   | 0.16%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FOOTHILL ESTRN TRANSPRTN CORRI | Foothill-Eastern Transportation Corridor Agency                         | CUSIP: 345105JH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $920730.00    | 0.08%             | 2046-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRINCE GEORGES CNTY MD REVENUE | County of Prince George's MD                                            | CUSIP: 741724BZ0<br>LEI: 549300NSQ1W50I0VU811 | Long             | DBT              | MUN               | US        |   2880000 | PA      | $2743747.20   | 0.24%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI HOTEL REVEN | Public Finance Authority                                                | CUSIP: 74447DAC1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3020000 | PA      | $2807633.60   | 0.25%             | 2052-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TSASC INC NY                   | TSASC Inc/NY                                                            | CUSIP: 898526EY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $491800.75    | 0.04%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIBERTY DEV CORP NY REVENUE    | New York Liberty Development Corp                                       | CUSIP: 531127AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3540000 | PA      | $3889044.00   | 0.35%             | 2035-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST UNIV REVENUE     | California State University                                             | CUSIP: 13077DAQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2203080.00   | 0.20%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE   | Michigan Finance Authority                                              | CUSIP: 59447TL76<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1656880.00   | 0.15%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                    | CUSIP: 167593N99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1179811.20   | 0.11%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KALISPELL MT HSG & HLTHCARE FA | City of Kalispell MT                                                    | CUSIP: 48342YAK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $610230.60    | 0.05%             | 2029-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST TELECOMMUNICATION OPEN | Utah Telecommunication Open Infrastructure Agency                       | CUSIP: 91756SAN3<br>LEI: 549300LCGT5UXUJ1LP77 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1127390.00   | 0.10%             | 2035-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                | CUSIP: 592250EX8<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |  11560000 | PA      | $10042865.60  | 0.90%             | 2047-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063CEW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5100800.00   | 0.45%             | 2030-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MOON INDL DEV AUTH PA REVENUE  | Moon Industrial Development Authority                                   | CUSIP: 61543RAR7<br>LEI: 549300CGX4T1GTNHL435 | Long             | DBT              | MUN               | US        |   2440000 | PA      | $2279033.20   | 0.20%             | 2030-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GLENDALE AZ INDL DEV AUTH SENI | Glendale Industrial Development Authority                               | CUSIP: 378287AS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $595026.40    | 0.05%             | 2027-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 452152VG3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2410000 | PA      | $2442438.60   | 0.22%             | 2030-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 452152A50<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1676308.30   | 0.15%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709224KX6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5131400.00   | 0.46%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP REV | New York State Urban Development Corp                                   | CUSIP: 6500357W2<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   2290000 | PA      | $2473039.70   | 0.22%             | 2037-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST DEPT OF WTR RESO | State of California Department of Water Resources                       | CUSIP: 13067WKV3<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |   2680000 | PA      | $2818904.40   | 0.25%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CLG BLDG AUTH EDUC | Virginia College Building Authority                                     | CUSIP: 92778VLR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4521320.00   | 0.40%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE | City of Salt Lake City UT Airport Revenue                               | CUSIP: 795576HH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15573750.00  | 1.39%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY NY INDL DEV CORP R | Monroe County Industrial Development Corp/NY                            | CUSIP: 61075TWP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $713690.00    | 0.06%             | 2040-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                     | CUSIP: 64966QCS7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5001250.00   | 0.45%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5765000 | PA      | $5369117.45   | 0.48%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461362U4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   9380000 | PA      | $4501931.00   | 0.40%             | 2038-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CNTY CA SANTN DISTS | Sacramento County Sanitation Districts Financing Authority              | CUSIP: 786134WA0<br>LEI: 549300MSDPX3EYMUYV38 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2709750.00   | 0.24%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH STUDENT H | Illinois Finance Authority                                              | CUSIP: 45203KAH8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    260000 | PA      | $258687.00    | 0.02%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY NY INDL DEV CORP R | Monroe County Industrial Development Corp/NY                            | CUSIP: 61075TWM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $183508.00    | 0.02%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                  | State of New Jersey                                                     | CUSIP: 646039YS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3440000 | PA      | $3641824.80   | 0.32%             | 2032-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEWARK HGR EDU FIN CORP TX EDU | Newark Higher Education Finance Corp                                    | CUSIP: 650346DC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1089625.00   | 0.10%             | 2047-08-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LOWER AL GAS DIST GAS PROJ REV | Lower Alabama Gas District/The                                          | CUSIP: 547804AF1<br>LEI: 549300YTI1NTDG2OVU42 | Long             | DBT              | MUN               | US        |   4850000 | PA      | $5092936.50   | 0.45%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116AM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2660000 | PA      | $2561260.80   | 0.23%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FL HLTH FACS AUT | Escambia County Health Facilities Authority                             | CUSIP: 296110GF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1657383.00   | 0.15%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                | CUSIP: 592250DE1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |  12000000 | PA      | $2171880.00   | 0.19%             | 2056-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN  | New York City Municipal Water Finance Authority                         | CUSIP: 64972F4W3<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2570000 | PA      | $2570000.00   | 0.23%             | 2044-06-15      | Variable      | 0.80%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REVENUE          | Guam Power Authority                                                    | CUSIP: 400653JX0<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4272480.00   | 0.38%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971WNM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5109000.00   | 0.46%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461367Z8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1791719.00   | 0.16%             | 2035-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QYY2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1128600.00   | 0.10%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                       | CUSIP: 249182LV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6300000 | PA      | $6433119.00   | 0.57%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST HSG FIN AGY  | North Carolina Housing Finance Agency                                   | CUSIP: 658207T62<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   4775000 | PA      | $4860329.25   | 0.43%             | 2042-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709224HN2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2090000 | PA      | $2145176.00   | 0.19%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU          | Chicago Board of Education                                              | CUSIP: 167505SM9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2160000 | PA      | $2150172.00   | 0.19%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INLAND EMPIRE CA TOBACCO SECUR | Inland Empire Tobacco Securitization Corp                               | CUSIP: 45734TAG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  62600000 | PA      | $3429228.00   | 0.31%             | 2057-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709224HP7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018310.00   | 0.09%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                    | CUSIP: 167593RK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1566831.20   | 0.14%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70869PLY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $380000.00    | 0.03%             | 2038-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY FL ARPT REVENUE    | County of Monroe FL Airport Revenue                                     | CUSIP: 610466AP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1316570.90   | 0.12%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 452153AV1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1860000 | PA      | $1653874.80   | 0.15%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                  | CUSIP: 514045L68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2591595.00   | 0.23%             | 2033-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL | Maryland Health & Higher Educational Facilities Authority               | CUSIP: 574218T29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2097920.00   | 0.19%             | 2036-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                                 | CUSIP: 73358W5M2<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1186284.00   | 0.11%             | 2036-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IA TOB | Iowa Tobacco Settlement Authority                                       | CUSIP: 888805CC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $276459.00    | 0.02%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE AZ FINANCIAL CORP S | Salt Verde Financial Corp                                               | CUSIP: 79575EAK4<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   3050000 | PA      | $3129056.00   | 0.28%             | 2024-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                      | CUSIP: 64990CPY1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009410.00   | 0.09%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST DEV FIN AUTH HLTHS | Oklahoma Development Finance Authority                                  | CUSIP: 67884XCH8<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1784180.00   | 0.16%             | 2048-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU DEDICATE | Chicago Board of Education                                              | CUSIP: 167510AJ5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    320000 | PA      | $324291.20    | 0.03%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                     | CUSIP: 64966QH29<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3500000.00   | 0.31%             | 2049-09-01      | Variable      | 0.84%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A | South Carolina Public Service Authority                                 | CUSIP: 837151T25<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3298020.00   | 0.29%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH SENIOR HSG RE | Iowa Finance Authority                                                  | CUSIP: 46245FAN4<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    500000 | PA      | $451470.00    | 0.04%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971W4T4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5348750.00   | 0.48%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN  | New York City Municipal Water Finance Authority                         | CUSIP: 64972GRA4<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5210550.00   | 0.46%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST DEV FIN AUTH HLTHS | Oklahoma Development Finance Authority                                  | CUSIP: 67884XCG0<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $919570.00    | 0.08%             | 2043-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN | M-S-R Energy Authority                                                  | CUSIP: 55374SAE0<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   2905000 | PA      | $3594676.05   | 0.32%             | 2034-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL EDUCTNL FAC | Miami-Dade County Educational Facilities Authority                      | CUSIP: 59333ALT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $539115.20    | 0.05%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063CX47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1861683.95   | 0.17%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971WCS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4150000 | PA      | $4274749.00   | 0.38%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP SURFACE T | Florida Development Finance Corp                                        | CUSIP: 34061YAH3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   5435000 | PA      | $4846498.20   | 0.43%             | 2049-01-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN PORT AUTH SOL WS | St Paul Port Authority                                                  | CUSIP: 79307RAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1878240.00   | 0.17%             | 2037-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| REGL CO TRANSPRTN DIST PRIV AC | Regional Transportation District                                        | CUSIP: 759151BP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974720.00    | 0.09%             | 2033-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SENIOR LI | New Hampshire Business Finance Authority                                | CUSIP: 63608SAM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1052655.10   | 0.09%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH    | Bucks County Industrial Development Authority                           | CUSIP: 118612MB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2058120.00   | 0.18%             | 2036-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV | Colorado Health Facilities Authority                                    | CUSIP: 19648FJX3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $933150.00    | 0.08%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE | County of Miami-Dade FL Aviation Revenue                                | CUSIP: 59333PN61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5700000 | PA      | $5831442.00   | 0.52%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL PLAINS ENERGY PROJ NE G | Central Plains Energy Project                                           | CUSIP: 154871CL9<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1308950.00   | 0.12%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                               | CUSIP: 64577XBB1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $965610.00    | 0.09%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST HLTH FACS AUTH      | Arizona Health Facilities Authority                                     | CUSIP: 040507PL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5125800.00   | 0.46%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEO L SMITH II GA CONGRESS CTR | George L Smith II Congress Center Authority                             | CUSIP: 37255MAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $935910.00    | 0.08%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L | New York Liberty Development Corp                                       | CUSIP: 649519EN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $7152100.00   | 0.64%             | 2044-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 452152S85<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   4440000 | PA      | $4656672.00   | 0.42%             | 2029-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                  | State of Washington                                                     | CUSIP: 93974EWQ5<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2151240.00   | 0.19%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 4521525P2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1130119.20   | 0.10%             | 2034-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT | Allentown Neighborhood Improvement Zone Development Authority           | CUSIP: 018444AY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3150000 | PA      | $2860200.00   | 0.26%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HOSP FACS REV | County of Hamilton OH                                                   | CUSIP: 407272W25<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   3540000 | PA      | $3908797.20   | 0.35%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF CMWL | GDB Debt Recovery Authority of Puerto Rico                              | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  38325821 | PA      | $32097875.38  | 2.86%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                              | CUSIP: 45204EC48<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    875000 | PA      | $630831.25    | 0.06%             | 2054-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP V | Tobacco Settlement Financing Corp/VA                                    | CUSIP: 88880NAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8185000 | PA      | $1900557.00   | 0.17%             | 2047-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | South Jersey Port Corp                                                  | CUSIP: 838530RC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $912111.20    | 0.08%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND HEIGHTS MO TAX INCR A | City of Richmond Heights MO                                             | CUSIP: 764709AH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $570363.30    | 0.05%             | 2025-11-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CNTY PA REDEV AUTH  | Redevelopment Authority of The County of Washington                     | CUSIP: 938618AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $485435.00    | 0.04%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FL HLTH FACS AUT | Escambia County Health Facilities Authority                             | CUSIP: 296110GD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $571428.55    | 0.05%             | 2045-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST CMNTY CLG FING A | California Community College Financing Authority                        | CUSIP: 13012TAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1402744.00   | 0.13%             | 2032-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063DS90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1134720.00   | 0.10%             | 2047-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                     | CUSIP: 45129GJM8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1197826.00   | 0.11%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT RIVER AZ PROJ AGRIC IMPT& | Salt River Project Agricultural Improvement & Power District            | CUSIP: 79574CCD3<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5324900.00   | 0.47%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA REGL ARPT AU | San Diego County Regional Airport Authority                             | CUSIP: 79739GPQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2088081.80   | 0.19%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST SCH BLDG AUTH | Massachusetts School Building Authority                                 | CUSIP: 576000SE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2617975.00   | 0.23%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                    | CUSIP: 167593L83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2664050.00   | 0.24%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAWAII ST                      | State of Hawaii                                                         | CUSIP: 419792XX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3010000 | PA      | $3148128.90   | 0.28%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL | Chandler Industrial Development Authority                               | CUSIP: 158862CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5178200.00   | 0.46%             | 2042-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063DE46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1643950.00   | 0.15%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL EDUCTNL F | Capital Trust Agency Inc                                                | CUSIP: 14054CDF3<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    800000 | PA      | $782864.00    | 0.07%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QVD1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $753637.50    | 0.07%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY TX INDL DEV COR | Jefferson County Industrial Development Corp/TX                         | CUSIP: 47353PAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1067544.75   | 0.10%             | 2039-04-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH GEN R | New York State Thruway Authority                                        | CUSIP: 650010CB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9816900.00   | 0.88%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461363W9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5284400.00   | 0.47%             | 2025-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CMWLTH FING AUTH PA TOBACCO MA | Commonwealth Financing Authority                                        | CUSIP: 20282EAH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2162040.00   | 0.19%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| E HEMPFIELD TWP PA INDL DEV AU | East Hempfield Township Industrial Development Authority                | CUSIP: 273007BD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $905065.00    | 0.08%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA               | District of Columbia                                                    | CUSIP: 25476FNS3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5146950.00   | 0.46%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE AZ FINANCIAL CORP S | Salt Verde Financial Corp                                               | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8280000.00   | 0.74%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH       | New York State Thruway Authority                                        | CUSIP: 650009A29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2552150.00   | 0.23%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD    | New Orleans Aviation Board                                              | CUSIP: 64763HFF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2966584.00   | 0.26%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP V | Tobacco Settlement Financing Corp/VA                                    | CUSIP: 88880NAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  53800000 | PA      | $12915766.00  | 1.15%             | 2047-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971Q8T3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2865000 | PA      | $2929491.15   | 0.26%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH | Maricopa County Industrial Development Authority                        | CUSIP: 56681NEV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $156945.25    | 0.01%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FL INDL DEV AUTH | Seminole County Industrial Development Authority                        | CUSIP: 81669TAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5340000 | PA      | $4514329.20   | 0.40%             | 2039-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R | State of Connecticut Special Tax Revenue                                | CUSIP: 207758YE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3375000 | PA      | $3771798.75   | 0.34%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                     | CUSIP: 45129GFG5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    230000 | PA      | $234268.80    | 0.02%             | 2028-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP TN GAS REVENUE   | Tennergy Corp/TN                                                        | CUSIP: 880397BW3<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4019394.00   | 0.36%             | 2051-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                      | CUSIP: 83704MAL0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1366210.65   | 0.12%             | 2039-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEMPE AZ INDL DEV AUTH REVENUE | Tempe Industrial Development Authority                                  | CUSIP: 87972MAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1097448.00   | 0.10%             | 2037-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH | Maricopa County Industrial Development Authority                        | CUSIP: 56682HBW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3212160.00   | 0.29%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TSASC INC NY                   | TSASC Inc/NY                                                            | CUSIP: 898526EZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $491601.25    | 0.04%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU DEDICATE | Chicago Board of Education                                              | CUSIP: 167510AH9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    825000 | PA      | $837028.50    | 0.07%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH       | New York State Thruway Authority                                        | CUSIP: 650009G49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5199000.00   | 0.46%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO | Mississippi Business Finance Corp                                       | CUSIP: 60528AAU8<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    775000 | PA      | $775000.00    | 0.07%             | 2030-12-01      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REVENUE          | Guam Power Authority                                                    | CUSIP: 400653JY8<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |   2915000 | PA      | $3088238.45   | 0.28%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX WTR REVENUE     | San Antonio Water System                                                | CUSIP: 79642B7M9<br>LEI: 549300S7VENCVRZAA322 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2437492.50   | 0.22%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QVE9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1436531.25   | 0.13%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 452152N31<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1999426.80   | 0.18%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                       | CUSIP: 452152VJ7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1027981.85   | 0.09%             | 2032-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST TELECOMMUNICATION OPEN | Utah Telecommunication Open Infrastructure Agency                       | CUSIP: 91756SAM5<br>LEI: 549300LCGT5UXUJ1LP77 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1139520.00   | 0.10%             | 2034-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HSG & CMNTY DEV AUT | Indiana Housing & Community Development Authority                       | CUSIP: 45505TRY9<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |  11635000 | PA      | $11635000.00  | 1.04%             | 2047-07-01      | Variable      | 0.84%                 | No            |                  2 | On Loan: No      |
| S WSTRN IL DEV AUTH HLTH FAC R | Southwestern Illinois Development Authority                             | CUSIP: 84553AAG7<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |   2190000 | PA      | $2276198.40   | 0.20%             | 2030-11-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST HIGHWAY IMPT REVE | State of Louisiana                                                      | CUSIP: 546486BL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5195000 | PA      | $5384825.30   | 0.48%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                     | CUSIP: 64966K4Y6<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3685000 | PA      | $3745507.70   | 0.33%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY FL ARPT REVENUE    | County of Monroe FL Airport Revenue                                     | CUSIP: 610466AS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1507051.75   | 0.13%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO | Mississippi Business Finance Corp                                       | CUSIP: 60528ABK9<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250000.00    | 0.02%             | 2030-12-01      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                               | CUSIP: 64577XDR4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1116230.00   | 0.10%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                      | CUSIP: 837031YR8<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1150380.00   | 0.10%             | 2039-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116CX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1899963.00   | 0.17%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R | Arizona Industrial Development Authority                                | CUSIP: 04052BAT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1460455.80   | 0.13%             | 2037-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT  | Buckeye Tobacco Settlement Financing Authority                          | CUSIP: 118217CX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1481193.00   | 0.13%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P | Los Angeles Department of Water & Power Water System Revenue            | CUSIP: 544525DD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.07%             | 2035-07-01      | Variable      | 0.51%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA WTR & WSTWTR REVENU | City of Atlanta GA Water & Wastewater Revenue                           | CUSIP: 047870ND8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5279000.00   | 0.47%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAMDEN CNTY NJ IMPT AUTH REVEN | Camden County Improvement Authority/The                                 | CUSIP: 13281NTG7<br>LEI: 549300UTQBT9ZE0QFB15 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5157750.00   | 0.46%             | 2040-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH | Maricopa County Industrial Development Authority                        | CUSIP: 56681NGD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $466935.00    | 0.04%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                     | CUSIP: 45129GFJ9<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254400.00    | 0.02%             | 2030-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | South Jersey Port Corp                                                  | CUSIP: 838530QY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $240444.30    | 0.02%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CNTY CA COPS       | County of Los Angeles CA                                                | CUSIP: 54466YCM9<br>LEI: 254900NGUPWO7FB6II89 | Long             | DBT              | MUN               | US        |   2395000 | PA      | $2410423.80   | 0.22%             | 2023-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CELEBRATION POINTE CMNTY DEV D | Celebration Pointe Community Development District No 1                  | CUSIP: 15102HAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $831220.10    | 0.07%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                | CUSIP: 592250DP6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $878980.00    | 0.08%             | 2050-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT REVENUE        | City of Atlanta GA Department of Aviation                               | CUSIP: 04780ME39<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1106700.00   | 0.10%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP        | Florida Development Finance Corp                                        | CUSIP: 340618DF1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   5900000 | PA      | $5863479.00   | 0.52%             | 2057-07-01      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16063000 | PA      | $14676763.10  | 1.31%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                     | CUSIP: 64966ML98<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.05%             | 2047-12-01      | Variable      | 0.86%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                    | CUSIP: 167593RJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032880.00   | 0.09%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI LIMITED OBL | Public Finance Authority                                                | CUSIP: 74446HAD1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $842713.70    | 0.08%             | 2050-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO | Denver Convention Center Hotel Authority                                | CUSIP: 249189DD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1946493.00   | 0.17%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST DEPT OF WTR RESO | State of California Department of Water Resources                       | CUSIP: 13067WKE1<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |     15000 | PA      | $15696.60     | 0.00%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116FM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005260.00   | 0.09%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU | Texas Private Activity Bond Surface Transportation Corp                 | CUSIP: 882667AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3840637.50   | 0.34%             | 2038-12-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TX CONVENTION CENTER HO | Dallas Convention Center Hotel Development Corp                         | CUSIP: 235417AP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5375000 | PA      | $5388598.75   | 0.48%             | 2023-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                     | City of Chicago IL                                                      | CUSIP: 167486WY1<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1302323.20   | 0.12%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY FL ARPT REVENUE    | County of Monroe FL Airport Revenue                                     | CUSIP: 610466AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1403588.00   | 0.13%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063CGB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5111150.00   | 0.46%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TX CONVENTION CENTER HO | Dallas Convention Center Hotel Development Corp                         | CUSIP: 235417AQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3420000 | PA      | $3427524.00   | 0.31%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT | Allentown Neighborhood Improvement Zone Development Authority           | CUSIP: 018444BY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $860854.50    | 0.08%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2285350.00   | 0.20%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QUT7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $1630750.00   | 0.15%             | 2017-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063DKA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2725050.00   | 0.24%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE   | Michigan Finance Authority                                              | CUSIP: 59447TW58<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2143659.80   | 0.19%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ERIE CNTY NY TOBACCO ASSET SEC | Erie Tobacco Asset Securitization Corp                                  | CUSIP: 295095BM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  38675000 | PA      | $2116682.75   | 0.19%             | 2060-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MET NASHVILLE TN ARPT AUTH ARP | Metropolitan Nashville Airport Authority/The                            | CUSIP: 592190QW5<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1626120.00   | 0.15%             | 2041-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ CIVIC IMPT CORP ARP | City of Phoenix Civic Improvement Corp                                  | CUSIP: 71883MQA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3900000 | PA      | $3958695.00   | 0.35%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                     | CUSIP: 45129GED3<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1273488.30   | 0.11%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI | Golden State Tobacco Securitization Corp                                | CUSIP: 38122NYL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3185640.00   | 0.28%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY DEDICATE | Metropolitan Transportation Authority                                   | CUSIP: 59259N4M2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5236000.00   | 0.47%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                     | CUSIP: 13063DQX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2067900.00   | 0.18%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                                 | CUSIP: 73358W3Z5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2480000 | PA      | $2336656.00   | 0.21%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDA GOLF & EQUESTRIAN CTR PUB | Mida Golf and Equestrian Center Public Infrastructure District          | CUSIP: 59561BAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1474494.60   | 0.13%             | 2036-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECON DEV AUTH  | Henrico County Economic Development Authority                           | CUSIP: 42605QHN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1815187.50   | 0.16%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE   | New Hampshire Business Finance Authority                                | CUSIP: 63607YAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $914970.00    | 0.08%             | 2039-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL STUDENT H | Capital Trust Agency Inc                                                | CUSIP: 140536AC7<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1867420.00   | 0.17%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                     | CUSIP: 45129GEF8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1374249.80   | 0.12%             | 2055-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL EDUCTNL F | Capital Trust Agency Inc                                                | CUSIP: 14054CDE6<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    300000 | PA      | $303402.00    | 0.03%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE       | District of Columbia                                                    | CUSIP: 25483VWB6<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1186540.50   | 0.11%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461363L3<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1581060.00   | 0.14%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA UNIF SCH DIST   | Los Angeles Unified School District/CA                                  | CUSIP: 544647FH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3045810.00   | 0.27%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-24

**Name of Applicant:** Delaware Group Tax Free Fund

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration