# EDGAR Filing Document

**Accession Number:** 0000733362
**File Stem:** 0001752724-23-014317
**Filing Date:** 2023-1
**Character Count:** 220598
**Document Hash:** ea2b7ff67538f29902f923cbd813a4e4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-014317.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001752724-23-014317

**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:** VOYAGEUR TAX FREE FUNDS
- **CENTRAL INDEX KEY:** 0000733362
- **IRS NUMBER:** 411473323
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03910
- **FILM NUMBER:** 23556109

**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:** VOYAGEUR TAX FREE FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VOYAGEUR MINNESOTA TAX FREE FUNDS INC
- **DATE OF NAME CHANGE:** 19910226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DOUBLE EXEMPT FLEX FUND INC
- **DATE OF NAME CHANGE:** 19900131

## Series and Classes Contracts Data

### DELAWARE TAX-FREE MINNESOTA FUND (Series ID: S000002418)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000006427 | DELAWARE TAX-FREE MINNESOTA FUND CLASS A | DEFFX           |
| C000006429 | DELAWARE TAX-FREE MINNESOTA FUND CLASS C | DMOCX           |
| C000135932 | Institutional class                      | DMNIX           |

## Nport-Ex

Schedule of investments

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

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds — 98.56%** | &nbsp;&nbsp;**Municipal Bonds — 98.56%** | &nbsp;&nbsp;**Municipal Bonds — 98.56%** |
| &nbsp;&nbsp;Corporate Revenue Bonds — 2.14% | &nbsp;&nbsp;Corporate Revenue Bonds — 2.14% | &nbsp;&nbsp;Corporate Revenue Bonds — 2.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cottonwood Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Extreme Holdings LLC Project)<br> Series A 144A 5.00% 12/1/50 (AMT) # | 1000000 | &nbsp;&nbsp;$731910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Municipal Gas Agency Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Subordinate)<br> Series A 4.00% 12/1/52 • | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2003980 |
| &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) # | 8665000 | &nbsp;&nbsp;&nbsp;&nbsp; 8137475 |
|  |  | &nbsp;&nbsp;&nbsp; 10873365 |
| &nbsp;&nbsp;Education Revenue Bonds — 20.85% | &nbsp;&nbsp;Education Revenue Bonds — 20.85% | &nbsp;&nbsp;Education Revenue Bonds — 20.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bethel Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Spectrum High School Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp; 751153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.25% 7/1/47 | 1550000 | &nbsp;&nbsp;&nbsp;&nbsp; 1182325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.375% 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 302016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brooklyn Park Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Prairie Seeds Academy Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 3/1/34 | 2260000 | &nbsp;&nbsp;&nbsp;&nbsp; 2136920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp; 348695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cologne Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cologne Academy Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 242718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/45 | 1705000 | &nbsp;&nbsp;&nbsp;&nbsp; 1556392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deephaven Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Eagle Ridge Academy Project)<br> Series A 5.50% 7/1/50 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1994260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duluth Housing & Redevelopment Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Duluth Public Schools Academy Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp; 654710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/1/48 | 2800000 | &nbsp;&nbsp;&nbsp;&nbsp; 2470748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duluth Independent School District No. 709 Certificates of<br> Participation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 380713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forest Lake Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Lakes International Language Academy Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 8/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 383896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.375% 8/1/50 | 1690000 | &nbsp;&nbsp;&nbsp;&nbsp; 1613848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.50% 8/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp; 582506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.75% 8/1/44 | 1190000 | &nbsp;&nbsp;&nbsp;&nbsp; 1193439 |

---

NQ-301 [11/22] 01/23 (2682227) 1

------

Schedule of investments

Delaware Tax-Free Minnesota 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;Ham Lake Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Davinci Academy Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;$739349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/47 | 2290000 | &nbsp;&nbsp;&nbsp;&nbsp; 2073687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hugo Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Noble Academy Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp; 566527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/44 | 2545000 | &nbsp;&nbsp;&nbsp;&nbsp; 2319360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minneapolis Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cyber Village Academy Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 711420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.50% 6/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 472765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Hiawatha Academies Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.00% 7/1/32 # | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 289146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.375% 7/1/42 # | &nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp; 818048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.50% 7/1/52 # | 1440000 | &nbsp;&nbsp;&nbsp;&nbsp; 1316722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.50% 7/1/57 # | 1120000 | &nbsp;&nbsp;&nbsp;&nbsp; 1011718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minneapolis Student Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Riverton Community Housing Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp; 470705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50% 8/1/49 | 2260000 | &nbsp;&nbsp;&nbsp;&nbsp; 2264068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Higher Education Facilities Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp; 760674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Higher Education Facilities Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Bethel University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/37 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1224800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 229835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Carleton College) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 3/1/35 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1020170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 3/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp; 421682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 3/1/44 | 1275000 | &nbsp;&nbsp;&nbsp;&nbsp; 1350314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(College of St. Benedict)<br> Series 8-K 4.00% 3/1/43 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 911230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(College of St. Scholastica) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp; 280650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp; 289971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 489325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 483575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 12/1/40 | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1098696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Gustavus Adolphus College)<br> 5.00% 10/1/47 | 6600000 | &nbsp;&nbsp;&nbsp;&nbsp; 6747642 |

---

2 NQ-301 [11/22] 01/23 (2682227)

------

(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;Minnesota Higher Education Facilities Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Catherine University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;925000 | &nbsp;&nbsp;$896131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp; 917971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/45 | 2120000 | &nbsp;&nbsp;&nbsp;&nbsp; 2171558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. John's University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 8-I 5.00% 10/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 520455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 8-I 5.00% 10/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 259783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Olaf College) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00% 10/1/38 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 844720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/46 | 1625000 | &nbsp;&nbsp;&nbsp;&nbsp; 1547504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp; 530535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 8-G 5.00% 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp; 783829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 8-G 5.00% 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp; 704726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 8-N 4.00% 10/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 501920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Trustees of the Hamline University of Minnesota)<br> Series B 5.00% 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;955000 | &nbsp;&nbsp;&nbsp;&nbsp; 969793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Trustees of The Hamline University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 10/1/38 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1013820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp; 951938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp; 631894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 10/1/47 | 1060000 | &nbsp;&nbsp;&nbsp;&nbsp; 1066222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(University of St. Thomas) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/36 | 1450000 | &nbsp;&nbsp;&nbsp;&nbsp; 1448216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 741472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/44 | 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1683846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 10/1/40 | 2395000 | &nbsp;&nbsp;&nbsp;&nbsp; 2516283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 8-L 5.00% 4/1/35 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1309262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 499385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(University of St. Thomas) (Green Bonds)<br> Series A 5.00% 10/1/35 | 1720000 | &nbsp;&nbsp;&nbsp;&nbsp; 1860404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Office of Higher Education Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior Supplemental Student Loan Program)<br> 2.65% 11/1/38 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp; 585077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota State Colleges & Universities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/26 | 4990000 | &nbsp;&nbsp;&nbsp;&nbsp; 5393641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Otsego Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Kaleidoscope Charter School) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp; 497240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/44 | 1165000 | &nbsp;&nbsp;&nbsp;&nbsp; 1024396 |

---

NQ-301 [11/22] 01/23 (2682227) 3

------

Schedule of investments

Delaware Tax-Free Minnesota 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;Regents Of The University Of Minnesota General<br> Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/42 | 1000000 | &nbsp;&nbsp;$1067770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Cloud Charter School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Stride Academy Project)<br> Series A 5.00% 4/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp; 640911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Paul Housing & Redevelopment Authority Charter<br> School Lease Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Academia Cesar Chavez School Project)<br> Series A 5.25% 7/1/50 | 1945000 | &nbsp;&nbsp;&nbsp;&nbsp; 1617676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Great River School Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 4.75% 7/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp; 207656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.50% 7/1/52 # | &nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp; 719197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Hmong College Preparatory Academy Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 229983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.75% 9/1/46 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Nova Classical Academy Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 9/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 431330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.125% 9/1/47 | 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1382745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Twin Cities Academy Project)<br> Series A 5.30% 7/1/45 | 1440000 | &nbsp;&nbsp;&nbsp;&nbsp; 1344773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Paul Housing & Redevelopment Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Amherst H. Wilder Foundation Project)<br> Series A 5.00% 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 309777 |
| &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 | 3040000 | &nbsp;&nbsp;&nbsp;&nbsp; 3216989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/34 | 1125000 | &nbsp;&nbsp;&nbsp;&nbsp; 1224484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/35 | 3175000 | &nbsp;&nbsp;&nbsp;&nbsp; 3352641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/36 | 2650000 | &nbsp;&nbsp;&nbsp;&nbsp; 2795697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/37 | 1125000 | &nbsp;&nbsp;&nbsp;&nbsp; 1184670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/1/39 | 5880000 | &nbsp;&nbsp;&nbsp;&nbsp; 6492402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/40 | 1560000 | &nbsp;&nbsp;&nbsp;&nbsp; 1672008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 801727 |
|  |  | &nbsp;&nbsp;&nbsp;106125603 |
| &nbsp;&nbsp;Electric Revenue Bonds — 8.77% | &nbsp;&nbsp;Electric Revenue Bonds — 8.77% | &nbsp;&nbsp;Electric Revenue Bonds — 8.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Central Minnesota Municipal Power Agency Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Brookings - Southeast Twin Cities Transmission Project)<br> 4.00% 1/1/42 (AGM) | &nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp; 336359 |

---

4 NQ-301 [11/22] 01/23 (2682227)

------

(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;Chaska Electric Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Generating Facilities) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;$371200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/30 | 1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1217723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Municipal Power Agency Electric Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/41 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1001010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp; 410804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 519825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 10/1/33 | 1205000 | &nbsp;&nbsp;&nbsp;&nbsp; 1248838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 10/1/47 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2089860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/30 | 1060000 | &nbsp;&nbsp;&nbsp;&nbsp; 1102029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 777285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/35 | 1525000 | &nbsp;&nbsp;&nbsp;&nbsp; 1579641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northern Municipal Power Agency (Minnesota) Electric<br> System Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp; 226907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp; 237481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northern Municipal Power Agency Electric System<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp; 576034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 372715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp; 621896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp; 552640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp; 215688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp; 226271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp; 171307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp; 192289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 424140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp; 125238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp; 425808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp; 520920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Electric Power Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.05% 7/1/42 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp; 317125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series AAA 5.25% 7/1/25 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 185625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series CCC 5.25% 7/1/27 ‡ | 1875000 | &nbsp;&nbsp;&nbsp;&nbsp; 1392187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.00% 7/1/28 ‡ | 1775000 | &nbsp;&nbsp;&nbsp;&nbsp; 1313500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.25% 7/1/33 ‡ | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 928125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series XX 4.75% 7/1/26 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp; 191425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series XX 5.25% 7/1/40 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 556875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series XX 5.75% 7/1/36 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp; 693750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series ZZ 4.75% 7/1/27 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp; 154613 |

---

NQ-301 [11/22] 01/23 (2682227) 5

------

Schedule of investments

Delaware Tax-Free Minnesota 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;Puerto Rico Electric Power Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series ZZ 5.25% 7/1/24 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;$259875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rochester Electric Utility Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/42 | 1395000 | &nbsp;&nbsp;&nbsp;&nbsp; 1492078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/47 | 2265000 | &nbsp;&nbsp;&nbsp;&nbsp; 2412112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern Minnesota Municipal Power Agency Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/41 | 1310000 | &nbsp;&nbsp;&nbsp;&nbsp; 1370928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/42 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1615485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/46 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2082900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/47 | 3130000 | &nbsp;&nbsp;&nbsp;&nbsp; 3346940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Appreciation)<br> Series A 4.965% 1/1/25 (NATL) ^ | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4702450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Paul Housing & Redevelopment Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 10/1/30 | 1235000 | &nbsp;&nbsp;&nbsp;&nbsp; 1280522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 10/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;885000 | &nbsp;&nbsp;&nbsp;&nbsp; 916276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 10/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp; 373077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Minnesota Municipal Power Agency Power<br> Supply Revenue Refunding Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/30 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1129940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Minnesota Municipal Power Agency Supply<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/26 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1002020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Red Rock Hydroelectric Project)<br> Series A 5.00% 1/1/49 | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1375699 |
|  |  | &nbsp;&nbsp;&nbsp; 44637435 |
| &nbsp;&nbsp;Healthcare Revenue Bonds — 26.97% | &nbsp;&nbsp;Healthcare Revenue Bonds — 26.97% | &nbsp;&nbsp;Healthcare Revenue Bonds — 26.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anoka Healthcare & Housing Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Homestead at Anoka Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp; 307069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% 11/1/49 | 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 921008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple Valley Senior Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(PHS Apple Valley Senior Housing Orchard Path Phase II Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 9/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 397125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 9/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 378340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(PHS Senior Housing, Inc. Orchard Path Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp; 460815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/58 | 3220000 | &nbsp;&nbsp;&nbsp;&nbsp; 3075454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple Valley Senior Living Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Minnesota Senior Living LLC Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2nd Tier Series B 5.00% 1/1/47 | 1640000 | &nbsp;&nbsp;&nbsp;&nbsp; 967567 |

---

6 NQ-301 [11/22] 01/23 (2682227)

------

(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;Apple Valley Senior Living Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Minnesota Senior Living LLC Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2nd Tier Series B 5.25% 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;$338160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4th Tier Series D 7.25% 1/1/52 | 2580000 | &nbsp;&nbsp;&nbsp;&nbsp; 1624574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior Living LLC Project)<br> 4th Tier Series D 7.00% 1/1/37 | 1585000 | &nbsp;&nbsp;&nbsp;&nbsp; 1091447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bethel Housing & Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Benedictine Health System – St. Peter Communities Project)<br> Series A 5.50% 12/1/48 | 2350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1935413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bethel Senior Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Lodge at The Lakes at Stillwater Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp; 413951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 6/1/48 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 862090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 6/1/53 | 2450000 | &nbsp;&nbsp;&nbsp;&nbsp; 2046534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Center City Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 616050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Hazelden Betty Ford Foundation Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 477565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 11/1/41 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1793300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50% 11/1/34 | 1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1701785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 512070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chatfield Healthcare & Housing Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Chosen Valley Care Center Project)<br> 5.00% 9/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 419910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crookston Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Riverview Health Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/44 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1362525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/51 | 1585000 | &nbsp;&nbsp;&nbsp;&nbsp; 1396290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dakota County Community Development Agency Senior<br> Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Walker Highview Hills Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.00% 8/1/36 # | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp; 272415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 5.00% 8/1/46 # | 2380000 | &nbsp;&nbsp;&nbsp;&nbsp; 2214447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deephaven Housing & Healthcare Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Therese Senior Living Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp; 650693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp; 618567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp; 261062 |

---

NQ-301 [11/22] 01/23 (2682227) 7

------

Schedule of investments

Delaware Tax-Free Minnesota 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;Duluth Economic Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Essentia Health Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.25% 2/15/43 | 2000000 | &nbsp;&nbsp;$1910220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/15/53 | 2850000 | &nbsp;&nbsp;&nbsp;&nbsp; 2864620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 2/15/58 | 7250000 | &nbsp;&nbsp;&nbsp;&nbsp; 7349615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Luke's Hospital of Duluth Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 3.00% 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp; 584392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp; 203467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp; 543638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp; 345367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp; 134672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp; 133217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.25% 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 503885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Luke's Hospital Of Duluth Obligated Group)<br> Series A 4.00% 6/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 368568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glencoe Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Glencoe Regional Health Services Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 500265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp; 659967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp; 58517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hayward Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(American Baptist Homes Midwest Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% 8/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp; 575863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75% 2/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 417995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. John's Lutheran Home of Albert Lea Project)<br> Series A 5.375% 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 270992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maple Grove Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Maple Grove Hospital Corporation) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 5/1/37 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1837360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/27 | 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1477098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/29 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1047730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp; 890154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 522085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 519165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(North Memorial Health Care) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 9/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 326277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/31 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1027940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/32 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1024270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maple Plain Senior Housing & Health Care Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Haven Homes Project)<br> 5.00% 7/1/54 | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2920890 |

---

8 NQ-301 [11/22] 01/23 (2682227)

------

(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;Minneapolis Health Care System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Allina Health System)<br> 4.00% 11/15/40 | 4000000 | &nbsp;&nbsp;$3894720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Fairview Health Services) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 11/15/48 | 5600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5023088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 516995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 515470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/15/35 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1054980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/15/44 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1015870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/15/49 | 6615000 | &nbsp;&nbsp;&nbsp;&nbsp; 6758016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minneapolis Senior Housing & Healthcare Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Ecumen-Abiitan Mill City Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 460545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 11/1/45 | 1950000 | &nbsp;&nbsp;&nbsp;&nbsp; 1775807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp; 416675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minneapolis–St. Paul Housing & Redevelopment<br> Authority Health Care Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Allina Health System)<br> Series A 5.00% 11/15/28 | 1550000 | &nbsp;&nbsp;&nbsp;&nbsp; 1681130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rochester Health Care & Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Homestead at Rochester Project)<br> Series A 6.875% 12/1/48 | 2980000 | &nbsp;&nbsp;&nbsp;&nbsp; 3011439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rochester Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Mayo Clinic) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 11/15/39 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3071160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/15/57 | 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; 6739938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sartell Health Care & Housing Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Country Manor Campus LLC Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/32 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 961110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 9/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 231705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.30% 9/1/37 | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1133004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sauk Rapids Health Care Housing Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Good Shepherd Lutheran Home)<br> 5.125% 1/1/39 | 1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1176174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shakopee Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Francis Regional Medical Center) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;915000 | &nbsp;&nbsp;&nbsp;&nbsp; 910626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp; 592342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 770182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp; 589203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp; 414218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp; 433849 |

---

NQ-301 [11/22] 01/23 (2682227) 9

------

Schedule of investments

Delaware Tax-Free Minnesota 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;Shakopee Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Francis Regional Medical Center) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;$433385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp; 737271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St Paul, Minnesota Housing And Redevelopment<br> Authority Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Healthpartners Obligated Group)<br> Series A 5.00% 7/1/30 | 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2280828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Cloud Health Care Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Centracare Health System Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 5/1/49 | 5315000 | &nbsp;&nbsp;&nbsp;&nbsp; 4814433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 5/1/48 | 4690000 | &nbsp;&nbsp;&nbsp;&nbsp; 4796650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 5/1/37 | 1765000 | &nbsp;&nbsp;&nbsp;&nbsp; 1743485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 5/1/46 | 5275000 | &nbsp;&nbsp;&nbsp;&nbsp; 5372746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Paul Housing & Redevelopment Authority Health Care<br> Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Fairview Health Services) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 11/15/43 | 2450000 | &nbsp;&nbsp;&nbsp;&nbsp; 2253853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/15/47 | 1560000 | &nbsp;&nbsp;&nbsp;&nbsp; 1590888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(HealthPartners Obligated Group Project)<br> Series A 5.00% 7/1/33 | 4760000 | &nbsp;&nbsp;&nbsp;&nbsp; 4910130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Paul Housing & Redevelopment Authority Housing &<br> Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Episcopal Homes Project)<br> 5.125% 5/1/48 | 3100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2623902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Paul Housing & Redevelopment Authority Multifamily<br> Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Marian Center Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.30% 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 470370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.375% 5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 424380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wayzata Senior Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Folkestone Senior Living Community) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75% 8/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 432345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 8/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp; 657928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 8/1/49 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 950510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 8/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp; 815850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;West St. Paul Housing & Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Walker Westwood Ridge Campus Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50% 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 210375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75% 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 602790 |

---

10 NQ-301 [11/22] 01/23 (2682227)

------

(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;Woodbury, Minnesota Housing & Redevelopment<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Therese of Woodbury)<br> 5.125% 12/1/44 | 2105000 | &nbsp;&nbsp;$1783945 |
|  |  | &nbsp;&nbsp;&nbsp;137282340 |
| &nbsp;&nbsp;Housing Revenue Bonds — 0.50% | &nbsp;&nbsp;Housing Revenue Bonds — 0.50% | &nbsp;&nbsp;Housing Revenue Bonds — 0.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Housing Finance Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series I 2.00% 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp; 471316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series I 2.20% 1/1/51 | 1195000 | &nbsp;&nbsp;&nbsp;&nbsp; 824681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northwest Multi-County Housing & Redevelopment<br> Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Pooled Housing Program)<br> 5.50% 7/1/45 | 1330000 | &nbsp;&nbsp;&nbsp;&nbsp; 1262423 |
|  |  | &nbsp;&nbsp;&nbsp; 2558420 |
| &nbsp;&nbsp;Lease Revenue Bonds — 1.86% | &nbsp;&nbsp;Lease Revenue Bonds — 1.86% | &nbsp;&nbsp;Lease Revenue Bonds — 1.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hibbing Minnesota, Independent School District No. 701 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 3.00% 3/1/41 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1036925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota General Fund Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Appropriations) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 6/1/38 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1259313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 6/1/43 | 3835000 | &nbsp;&nbsp;&nbsp;&nbsp; 3859812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Housing Finance Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(State Appropriation–Housing Infrastructure) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 8/1/34 | 1565000 | &nbsp;&nbsp;&nbsp;&nbsp; 1613186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 8/1/35 | 1645000 | &nbsp;&nbsp;&nbsp;&nbsp; 1694827 |
|  |  | &nbsp;&nbsp;&nbsp; 9464063 |
| &nbsp;&nbsp;Local General Obligation Bonds — 13.33% | &nbsp;&nbsp;Local General Obligation Bonds — 13.33% | &nbsp;&nbsp;Local General Obligation Bonds — 13.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anoka-Hennepin Independent School District No. 11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00% 2/1/45 | 2600000 | &nbsp;&nbsp;&nbsp;&nbsp; 2110004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 3.00% 2/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 634808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Minnesota School District Credit Enhancement Program)<br> Series A 4.00% 2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 315969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blooming Prairie Independent School District No. 756 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> Series A 3.00% 2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brainerd Independent School District No. 181 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> Series A 4.00% 2/1/38 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1524660 |

---

NQ-301 [11/22] 01/23 (2682227) 11

------

Schedule of investments

Delaware Tax-Free Minnesota 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;Burnsville-Eagan-Savage Independent School District No.<br> 191 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Alternative Facilities) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;920000 | &nbsp;&nbsp;$942706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 2/1/29 | 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1843812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chaska Independent School District No. 112 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> Series A 5.00% 2/1/27 | 1905000 | &nbsp;&nbsp;&nbsp;&nbsp; 2044217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Marshall |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp; 291684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duluth |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(DECC Improvement) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp; 669136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/1/32 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/1/33 | 3585000 | &nbsp;&nbsp;&nbsp;&nbsp; 3779916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duluth Independent School District No. 709 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp; 162766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 2/1/28 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1270425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elk River Minnesota, Independent School District No. 728 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00% 2/1/40 | 1555000 | &nbsp;&nbsp;&nbsp;&nbsp; 1322807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hennepin County |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/26 | 2635000 | &nbsp;&nbsp;&nbsp;&nbsp; 2870068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp; 1010171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/37 | 2850000 | &nbsp;&nbsp;&nbsp;&nbsp; 3087548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/37 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1073480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/38 | 3310000 | &nbsp;&nbsp;&nbsp;&nbsp; 3578309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 12/1/30 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1089210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 12/1/28 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1687335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 12/1/30 | 1245000 | &nbsp;&nbsp;&nbsp;&nbsp; 1356066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 12/1/37 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3220440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Independent School District No. 181 (Brainerd Public<br> Schools), Minnesota General Obligation School Building Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 2/1/42 | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3530695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lakeville Independent School District No. 194 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Minnesota School District Credit Enhancement Program)<br> Series B 4.00% 2/1/28 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1057060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mahtomedi Independent School District No. 832 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> Series A 5.00% 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp; 464705 |

---

12 NQ-301 [11/22] 01/23 (2682227)

------

(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;Minneapolis Health Care System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Green Bonds)<br> 3.00% 12/1/42 | 3400000 | &nbsp;&nbsp;$2852600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minneapolis Special School District No. 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 611622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 2/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp; 634412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/1/33 | 1420000 | &nbsp;&nbsp;&nbsp;&nbsp; 1689559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;945000 | &nbsp;&nbsp;&nbsp;&nbsp; 970506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 2/1/37 | 1255000 | &nbsp;&nbsp;&nbsp;&nbsp; 1279309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 2/1/38 | 1305000 | &nbsp;&nbsp;&nbsp;&nbsp; 1324653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 5.00% 2/1/33 | 1710000 | &nbsp;&nbsp;&nbsp;&nbsp; 1973802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 5.00% 2/1/34 | 1900000 | &nbsp;&nbsp;&nbsp;&nbsp; 2181694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Minneapolis)<br> 4.00% 2/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 609228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mounds View Independent School District No. 621 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Minnesota School District Credit Enhancement Program)<br> Series A 4.00% 2/1/43 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3018990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mountain Iron-Buhl Independent School District No. 712 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> Series A 4.00% 2/1/26 | 1315000 | &nbsp;&nbsp;&nbsp;&nbsp; 1362077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Michael-Albertville Independent School District No.<br> 885 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> Series A 5.00% 2/1/27 | 1865000 | &nbsp;&nbsp;&nbsp;&nbsp; 1987829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Paul Independent School District No. 625 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> Series D 4.00% 2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wayzata Independent School District No. 284 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Building)<br> Series A 5.00% 2/1/28 | 1950000 | &nbsp;&nbsp;&nbsp;&nbsp; 2129088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;White Bear Lake Independent School District No. 624 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 3.00% 2/1/42 | 3400000 | &nbsp;&nbsp;&nbsp;&nbsp; 2821898 |
|  |  | &nbsp;&nbsp;&nbsp; 67849966 |
| &nbsp;&nbsp;Pre-Refunded/Escrowed to Maturity Bonds — 2.20% | &nbsp;&nbsp;Pre-Refunded/Escrowed to Maturity Bonds — 2.20% | &nbsp;&nbsp;Pre-Refunded/Escrowed to Maturity Bonds — 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rochester Electric Utility Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 12/1/31-23 § | 1365000 | &nbsp;&nbsp;&nbsp;&nbsp; 1397897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 12/1/33-23 § | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 307230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rochester Health Care Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Olmsted Medical Center Project)<br> 5.00% 7/1/33-23 § | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp; 658866 |

---

NQ-301 [11/22] 01/23 (2682227) 13

------

Schedule of investments

Delaware Tax-Free Minnesota 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;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;St. Paul Housing & Redevelopment Authority Hospital<br> Facility Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Healtheast Care System Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/15/29-25 § | &nbsp;&nbsp;&nbsp;&nbsp;910000 | &nbsp;&nbsp;$964718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/15/30-25 § | &nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp; 710287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Minnesota Municipal Power Agency Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/34-24 § | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4101920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/46-24 § | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3076440 |
|  |  | &nbsp;&nbsp;&nbsp; 11217358 |
| &nbsp;&nbsp;Special Tax Revenue Bonds — 4.61% | &nbsp;&nbsp;Special Tax Revenue Bonds — 4.61% | &nbsp;&nbsp;Special Tax Revenue Bonds — 4.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Subordinate) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% 11/1/51 • | 3501999 | &nbsp;&nbsp;&nbsp;&nbsp; 1243210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.035% 11/1/43 • | 1169897 | &nbsp;&nbsp;&nbsp;&nbsp; 533765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minneapolis Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(YMCA Greater Twin Cities Project)<br> 4.00% 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254718 |
| &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 0.098% 7/1/46 ^ | 2750000 | &nbsp;&nbsp;&nbsp;&nbsp; 693055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 0.109% 7/1/51 ^ | 31552000 | &nbsp;&nbsp;&nbsp;&nbsp; 5936824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.75% 7/1/53 | 12200000 | &nbsp;&nbsp;&nbsp;&nbsp; 11147140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 5.00% 7/1/58 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1423215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Paul Sales Tax Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series G 5.00% 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp; 680100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series G 5.00% 11/1/31 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1556340 |
|  |  | &nbsp;&nbsp;&nbsp; 23468367 |
| &nbsp;&nbsp;State General Obligation Bonds — 10.58% | &nbsp;&nbsp;State General Obligation Bonds — 10.58% | &nbsp;&nbsp;State General Obligation Bonds — 10.58% |
| &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 | &nbsp;&nbsp;&nbsp;&nbsp;191584 | &nbsp;&nbsp;&nbsp;&nbsp; 160120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;988988 | &nbsp;&nbsp;&nbsp;&nbsp; 794869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 9/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp; 651200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/30 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1400838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/35 | 2975000 | &nbsp;&nbsp;&nbsp;&nbsp; 3278986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/39 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1141200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/41 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1695855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(State Trunk Highway)<br> Series E 5.00% 10/1/26 | 4875000 | &nbsp;&nbsp;&nbsp;&nbsp; 5293421 |

---

14 NQ-301 [11/22] 01/23 (2682227)

------

(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;Minnesota State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Various Purposes) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 9/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;$692854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 9/1/40 | 1410000 | &nbsp;&nbsp;&nbsp;&nbsp; 1451905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/27 | 7590000 | &nbsp;&nbsp;&nbsp;&nbsp; 8050561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/29 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2649700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/30 | 4200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4357038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/32 | 3875000 | &nbsp;&nbsp;&nbsp;&nbsp; 4011555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/33 | 2075000 | &nbsp;&nbsp;&nbsp;&nbsp; 2307711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/33 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3289980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 558925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/38 | 2450000 | &nbsp;&nbsp;&nbsp;&nbsp; 2675302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 5.00% 8/1/26 | 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6492540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 5.00% 8/1/27 | 2525000 | &nbsp;&nbsp;&nbsp;&nbsp; 2732277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State Of Minnesota General Obligation State Various<br> Purpose Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 9/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp; 139238 |
|  |  | &nbsp;&nbsp;&nbsp; 53826075 |
| &nbsp;&nbsp;Transportation Revenue Bonds — 5.24% | &nbsp;&nbsp;Transportation Revenue Bonds — 5.24% | &nbsp;&nbsp;Transportation Revenue Bonds — 5.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minneapolis–St. Paul Metropolitan Airports Commission<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/31 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;960000 | &nbsp;&nbsp;&nbsp;&nbsp; 1026192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 1/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp; 440783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 1/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp; 908378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 1/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 632028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 623220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 1/1/46 | 1595000 | &nbsp;&nbsp;&nbsp;&nbsp; 1647284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Subordinate) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/35 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1016800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/44 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3106980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/35 | 1205000 | &nbsp;&nbsp;&nbsp;&nbsp; 1289278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/44 (AMT) | 12600000 | &nbsp;&nbsp;&nbsp;&nbsp; 12904416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/47 (AMT) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1025770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 1/1/49 (AMT) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2035760 |
|  |  | &nbsp;&nbsp;&nbsp; 26656889 |
| &nbsp;&nbsp;Water & Sewer Revenue Bonds — 1.51% | &nbsp;&nbsp;Water & Sewer Revenue Bonds — 1.51% | &nbsp;&nbsp;Water & Sewer Revenue Bonds — 1.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Council General Obligation Wastewater<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Minneapolis-St. Paul Metropolitan Area) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 4.00% 3/1/31 | 3120000 | &nbsp;&nbsp;&nbsp;&nbsp; 3269760 |

---

NQ-301 [11/22] 01/23 (2682227) 15

------

Schedule of investments

Delaware Tax-Free Minnesota 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;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;Metropolitan Council General Obligation Wastewater<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Minneapolis-St. Paul Metropolitan Area) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 4.00% 3/1/32 | 3225000 | &nbsp;&nbsp;$3374124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Public Facilities Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 3/1/26 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1042940 |
|  |  | &nbsp;&nbsp;&nbsp; 7686824 |
| &nbsp;&nbsp;&nbsp;**Total Municipal Bonds (cost $524,461,351)** | &nbsp;&nbsp;&nbsp;**Total Municipal Bonds (cost $524,461,351)** | &nbsp;&nbsp;&nbsp;**501646705** |
| &nbsp;&nbsp;**Short-Term Investments — 0.55%** | &nbsp;&nbsp;**Short-Term Investments — 0.55%** | &nbsp;&nbsp;**Short-Term Investments — 0.55%** |
| &nbsp;&nbsp;Variable Rate Demand Notes — 0.55%¤ | &nbsp;&nbsp;Variable Rate Demand Notes — 0.55%¤ | &nbsp;&nbsp;Variable Rate Demand Notes — 0.55%¤ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minneapolis–St. Paul Housing & Redevelopment<br> Authority Health Care Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Allina Health System) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-1 0.99% 11/15/35<br> (LOC – JPMorgan Chase Bank N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-2 1.03% 11/15/35<br> (LOC – JPMorgan Chase Bank N.A.) | 2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2300000 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $2,800,000)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $2,800,000)** | &nbsp;&nbsp;&nbsp; **2800000** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.11%<br> (cost $527,261,351)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**504446705** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—0.89%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **4531901** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 45,644,698 Shares Outstanding—100.00%** |  | &nbsp;&nbsp;**$508978606** |

---

---

| | |
|:---|:---|
| ° | 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 $15,718,734, which represents 3.09% of the Fund's net assets. |

---

16 NQ-301 [11/22] 01/23 (2682227)

------

(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. |
| ‡ | Non-income producing security. Security is currently in default. |
| ^ | 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. |
| § | 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. See Note 8 in "Notes to financial statements." |
| ¤ | 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 |
| 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 |
| USD – US Dollar |

---

NQ-301 [11/22] 01/23 (2682227) 17

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Voyageur Tax Free Funds

- **b. Investment Company Act file number:** 811-03910

- **c. CIK number of Registrant:** 0000733362

- **d. LEI of Registrant:** 549300NYF2MBA1LLWV21

- **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 Minnesota Fund

- **b. EDGAR series identifier (if any):** S000002418

- **c. LEI of Series:** GP2QKTESI0CPRYBH6D52

**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:** $514408162.80

**Total Liabilities:** $4512863.83

**Net Assets:** $509895298.97

**Cash Not Reported:** $452075.53

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 115.92596000 | **1-Year:** 21324.63070000 | **5-Year:** 62853.73243000 | **10-Year:** 244192.57734000 | **30-Year:** 39377.48548000

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

- **3-Month:** 0.00000000 | **1-Year:** 104.62422000 | **5-Year:** 3833.17853000 | **10-Year:** 23192.50117000 | **30-Year:** 1351.70695000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006427 | -4.46%               | -1.15%               | 4.64%                |
| Class ID C000006429 | -4.50%               | -1.20%               | 4.57%                |
| Class ID C000135932 | -4.44%               | -1.13%               | 4.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-482628.46              | $-24544672.25                              |
| Month 2  | $-8228362.97             | $1480221.57                                |
| Month 3  | $-1392742.43             | $22957377.50                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FOREST LAKE MN CHARTER SCH LEA | City of Forest Lake MN                                             | CUSIP: 345856AJ7<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1193439.10   | 0.23%             | 2044-08-01      | Fixed         | 5.75%                 | 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        |   8665000 | PA      | $8137474.80   | 1.60%             | 2037-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JBB5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    715000 | PA      | $760674.20    | 0.15%             | 2032-10-01      | 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        |   1500000 | PA      | $1423215.00   | 0.28%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUNI PWR AGY ELEC | Minnesota Municipal Power Agency                                   | CUSIP: 60412PEY2<br>LEI: 5493007DGBKI6ICBXO38 | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1579640.75   | 0.31%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLE PLAIN MN SR HSG & HLTH C | City of Maple Plain MN                                             | CUSIP: 56531SAS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $2920890.00   | 0.57%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JFB1<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1860403.60   | 0.36%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANOKA MN HLTHCARE & HSG FAC RE | City of Anoka MN                                                   | CUSIP: 03632RAG5<br>LEI: 549300R336CIYVDY0N47 | Long             | DBT              | MUN               | US        |    320000 | PA      | $307068.80    | 0.06%             | 2034-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827D94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $1026192.00   | 0.20%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUNI PWR AGY ELEC | Minnesota Municipal Power Agency                                   | CUSIP: 60412PFX3<br>LEI: 5493007DGBKI6ICBXO38 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2089860.00   | 0.41%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCX6<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1098696.00   | 0.22%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VDT7<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $515470.00    | 0.10%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792892HM6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    500000 | PA      | $424380.00    | 0.08%             | 2043-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN | City of Bethel MN                                                  | CUSIP: 086759AJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $751153.20    | 0.15%             | 2032-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AEF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2649700.00   | 0.52%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H3M4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020170.00   | 0.20%             | 2035-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN STUDENT HSG REV | City of Minneapolis MN                                             | CUSIP: 60379NBX3<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    470000 | PA      | $470705.00    | 0.09%             | 2039-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNI GAS AGY COMMODI | Minnesota Municipal Gas Agency                                     | CUSIP: 60406UAM9<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003980.00   | 0.39%             | 2052-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| STHRN MINNESOTA ST MUNI PWR AG | Southern Minnesota Municipal Power Agency                          | CUSIP: 843375C38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2082900.00   | 0.41%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VEV1<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3894720.00   | 0.76%             | 2040-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTER CITY MN HLTH CARE FACSR | City of Center City MN                                             | CUSIP: 151452CB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $477565.00    | 0.09%             | 2034-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTER CITY MN HLTH CARE FACSR | City of Center City MN                                             | CUSIP: 151452BF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512070.00    | 0.10%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN HSG & HLTHCARE    | Deephaven Housing & Healthcare                                     | CUSIP: 24379CAH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $650692.80    | 0.13%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827C53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3106980.00   | 0.61%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CBY9<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    880000 | PA      | $818048.00    | 0.16%             | 2042-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $657928.00    | 0.13%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN | City of St Cloud MN                                                | CUSIP: 78916VDU1<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   1765000 | PA      | $1743484.65   | 0.34%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SENIOR HSG & HL | City of Minneapolis MN                                             | CUSIP: 603787AL6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1775806.50   | 0.35%             | 2045-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $576034.20    | 0.11%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA | City of Forest Lake MN                                             | CUSIP: 345856AV0<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1613848.60   | 0.32%             | 2050-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AWU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $692853.70    | 0.14%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1 | Minneapolis Special School District No 1                           | CUSIP: 603790QF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1279309.35   | 0.25%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                        | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1169897 | PA      | $533765.41    | 0.10%             | 2043-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN | City of Bethel MN                                                  | CUSIP: 086759AL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1182324.50   | 0.23%             | 2047-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412APE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1400837.50   | 0.27%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WOODBURY MN HSG & REDEV AUTHRE | Woodbury Housing & Redevelopment Authority                         | CUSIP: 979141AL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2105000 | PA      | $1783945.40   | 0.35%             | 2044-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H7J7<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    940000 | PA      | $951938.00    | 0.19%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                               | CUSIP: 74526QXP2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    350000 | PA      | $259875.00    | 0.05%             | 2024-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST PUBLIC FACS AUTH  | Minnesota Public Facilities Authority                              | CUSIP: 604115CZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042940.00   | 0.20%             | 2026-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                               | CUSIP: 74526QVC3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1313500.00   | 0.26%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H8F4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499385.00    | 0.10%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUNI PWR AGY ELEC | Minnesota Municipal Power Agency                                   | CUSIP: 60412PDU1<br>LEI: 5493007DGBKI6ICBXO38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $519825.00    | 0.10%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297DA5<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    250000 | PA      | $229982.50    | 0.05%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCR9<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    280000 | PA      | $280649.60    | 0.06%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUNI PWR AGY ELEC | Minnesota Municipal Power Agency                                   | CUSIP: 60412PDT4<br>LEI: 5493007DGBKI6ICBXO38 | Long             | DBT              | MUN               | US        |    395000 | PA      | $410803.95    | 0.08%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CHF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7250000 | PA      | $7349615.00   | 1.44%             | 2058-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412ARB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $558925.00    | 0.11%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                        | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    988988 | PA      | $794869.44    | 0.16%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLOGNE MN CHRT SCH LEASE REVE | City of Cologne MN                                                 | CUSIP: 195239AJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $242717.50    | 0.05%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENCOE MN HLTHCARE FACS REVEN | City of Glencoe MN                                                 | CUSIP: 378160BS3<br>LEI: 549300YD6XHLXYWWYP70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500265.00    | 0.10%             | 2024-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792892HL8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    500000 | PA      | $470370.00    | 0.09%             | 2030-11-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA | City of Forest Lake MN                                             | CUSIP: 345856AH1<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |    580000 | PA      | $582505.60    | 0.11%             | 2036-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HENNEPIN CNTY MN               | County of Hennepin MN                                              | CUSIP: 425507GW4<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   3310000 | PA      | $3578308.60   | 0.70%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TBA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024270.00   | 0.20%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460QL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067770.00   | 0.21%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST OFFICE OF HGR EDU | Minnesota Office of Higher Education                               | CUSIP: 60416MBS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $585077.35    | 0.11%             | 2038-11-01      | Fixed         | 2.65%                 | 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        |    750000 | PA      | $556875.00    | 0.11%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MOUNDS VIEW MN INDEP SCH DIST# | Mounds View Independent School District No 621                     | CUSIP: 620637Z76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3018990.00   | 0.59%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827YZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $623220.00    | 0.12%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT MICHAEL MN INDEP SCH DIS | St Michael-Albertville Independent School District No 885          | CUSIP: 792775QH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1865000 | PA      | $1987828.90   | 0.39%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ELK RIVER MN INDEP SCH DIST #7 | Elk River Independent School District No 728                       | CUSIP: 287425N99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1322807.40   | 0.26%             | 2040-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460PK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1184670.00   | 0.23%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANOKA-HENNEPIN MN INDEP SCH DI | Anoka-Hennepin Independent School District No 11                   | CUSIP: 0363034R3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $634807.50    | 0.12%             | 2043-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H8D9<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    400000 | PA      | $404428.00    | 0.08%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST CLOUD MN CHRT SCH LEASE REV | City of St Cloud MN                                                | CUSIP: 788326AD8<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |    875000 | PA      | $640911.25    | 0.13%             | 2046-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H7G3<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    955000 | PA      | $969792.95    | 0.19%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792909FL2<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2253853.00   | 0.44%             | 2043-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCB4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    750000 | PA      | $741472.50    | 0.15%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAHTOMEDI MN INDEP SCH DIST #8 | Mahtomedi Independent School District No 832                       | CUSIP: 560211ML5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $464704.60    | 0.09%             | 2030-02-01      | Fixed         | 5.00%                 | 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        |    480000 | PA      | $338160.00    | 0.07%             | 2037-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416HX90<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $911230.00    | 0.18%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297CG3<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    210000 | PA      | $207656.40    | 0.04%             | 2029-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460PF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3040000 | PA      | $3216988.80   | 0.63%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $592342.00    | 0.12%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN HSG & REDEV AUTH CHR | Duluth Housing & Redevelopment Authority                           | CUSIP: 264454AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2470748.00   | 0.48%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCE8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1683846.00   | 0.33%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TBN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047730.00   | 0.21%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHASKA MN ELEC REVENUE         | City of Chaska MN Electric Revenue                                 | CUSIP: 161670FB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1217723.50   | 0.24%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRAINERD MN INDEP SCH DIST #18 | Brainerd Independent School District No 181                        | CUSIP: 105007NH7<br>LEI: 549300P1U3THZTOHA392 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3530695.00   | 0.69%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $815850.00    | 0.16%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H7K4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    625000 | PA      | $631893.75    | 0.12%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1 | Minneapolis Special School District No 1                           | CUSIP: 603790PK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $611622.00    | 0.12%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412APK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2975000 | PA      | $3278985.50   | 0.64%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JBJ8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   2120000 | PA      | $2171558.40   | 0.43%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OTSEGO CHRT SCH LEASE REVENUE  | City of Otsego MN                                                  | CUSIP: 689149AC6<br>LEI: 549300C7IZXQ4JXHZS47 | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1024396.15   | 0.20%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $326277.00    | 0.06%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827L46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025770.00   | 0.20%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENCOE MN HLTHCARE FACS REVEN | City of Glencoe MN                                                 | CUSIP: 378160BW4<br>LEI: 549300YD6XHLXYWWYP70 | Long             | DBT              | MUN               | US        |     60000 | PA      | $58516.80     | 0.01%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WSTRN MN MUNI PWR AGY          | Western Minnesota Municipal Power Agency                           | CUSIP: 958697JS4<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3076440.00   | 0.60%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CBX1<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    300000 | PA      | $289146.00    | 0.06%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $770182.50    | 0.15%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JDA5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1547503.75   | 0.30%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN                      | City of Duluth MN                                                  | CUSIP: 264438X98<br>LEI: 54930056ACOJTRDUDE38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056840.00   | 0.21%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV | City of Apple Valley MN                                            | CUSIP: 03789YDT0<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   2580000 | PA      | $1624574.40   | 0.32%             | 2052-01-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BROOKLYN PK MN CHRT SCH LEASE  | City of Brooklyn Park MN                                           | CUSIP: 114224AC2<br>LEI: 549300SRSB2KMQNYBB75 | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2136920.40   | 0.42%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $171307.20    | 0.03%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416HV27<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1309262.50   | 0.26%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN | City of Minneapolis MN/St Paul Housing & Redevelopment Authority   | CUSIP: 603695JB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1681130.00   | 0.33%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN INDEP SCH DIST #284 | Wayzata Independent School District No 284                         | CUSIP: 946813WA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2129088.00   | 0.42%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROOKSTON MN HLTH CARE FACS RE | City of Crookston MN                                               | CUSIP: 227235BG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93575.00     | 0.02%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN                      | City of Duluth MN                                                  | CUSIP: 264438Y22<br>LEI: 54930056ACOJTRDUDE38 | Long             | DBT              | MUN               | US        |   3585000 | PA      | $3779916.45   | 0.74%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COTTONWOOD MN REVENUE          | City of Cottonwood MN                                              | CUSIP: 22188TAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $731910.00    | 0.14%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460QC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1224483.75   | 0.24%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297BX7<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    500000 | PA      | $431330.00    | 0.08%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET COUNCIL MINNEAPOLIS-SAINT  | Metropolitan Council                                               | CUSIP: 591852F37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3120000 | PA      | $3269760.00   | 0.64%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297AS9<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1945000 | PA      | $1617675.95   | 0.32%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444JM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $425807.50    | 0.08%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $432345.00    | 0.08%             | 2036-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1 | Minneapolis Special School District No 1                           | CUSIP: 603790PL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $634412.50    | 0.12%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV | City of Apple Valley MN                                            | CUSIP: 03789YDS2<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1091446.85   | 0.21%             | 2037-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV | City of Apple Valley MN                                            | CUSIP: 03789YDH6<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $967567.20    | 0.19%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURNSVILLE MN INDEP SCH DIST # | Burnsville-Eagan-Savage Independent School District No 191         | CUSIP: 122475YE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1843812.00   | 0.36%             | 2029-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $215688.00    | 0.04%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN INDEP SCH DIST #709  | Duluth Independent School District No 709                          | CUSIP: 264474HA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $162766.40    | 0.03%             | 2027-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUNI PWR AGY ELEC | Minnesota Municipal Power Agency                                   | CUSIP: 60412PFW5<br>LEI: 5493007DGBKI6ICBXO38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001010.00   | 0.20%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRL MN MUNI PWR AGY         | Central Minnesota Municipal Power Agency                           | CUSIP: 154136BD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $336358.60    | 0.07%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAYWARD MN HLTH CARE FACS REVE | City of Hayward MN                                                 | CUSIP: 421306AC5<br>LEI: 549300YF6QD4DXUDGL81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $417995.00    | 0.08%             | 2044-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HAYWARD HSG & HLTHCARE FACS RE | City of Hayward MN                                                 | CUSIP: 421307AM1<br>LEI: 549300YF6QD4DXUDGL81 | Long             | DBT              | MUN               | US        |    400000 | PA      | $270992.00    | 0.05%             | 2044-10-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $589202.50    | 0.12%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue             | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12200000 | PA      | $11147140.00  | 2.19%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN INDEP SCH DIST # | St Paul Independent School District No 625                         | CUSIP: 792895V43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $209344.00    | 0.04%             | 2032-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STHRN MINNESOTA ST MUNI PWR AG | Southern Minnesota Municipal Power Agency                          | CUSIP: 843375F76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3130000 | PA      | $3346940.30   | 0.66%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN                 | City of Minneapolis MN                                             | CUSIP: 60375BHK5<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   3400000 | PA      | $2852600.00   | 0.56%             | 2042-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                               | CUSIP: 74526QXY3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    250000 | PA      | $185625.00    | 0.04%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SARTELL MN HLTH CARE & HSG FAC | City of Sartell MN                                                 | CUSIP: 803807BJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $231705.00    | 0.05%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $910626.30    | 0.18%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VEF6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   6615000 | PA      | $6758016.30   | 1.33%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN INDEP SCH DIST #709  | Duluth Independent School District No 709                          | CUSIP: 264474HM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $380712.50    | 0.07%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STHRN MINNESOTA ST MUNI PWR AG | Southern Minnesota Municipal Power Agency                          | CUSIP: 843375F68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1615485.00   | 0.32%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STHRN MINNESOTA ST MUNI PWR AG | Southern Minnesota Municipal Power Agency                          | CUSIP: 843375C87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1370928.10   | 0.27%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827YU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $908378.00    | 0.18%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792893HV4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    300000 | PA      | $309777.00    | 0.06%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 85236DAL2<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    885000 | PA      | $916275.90    | 0.18%             | 2031-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $621895.95    | 0.12%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CJL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $134671.50    | 0.03%             | 2038-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CJJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $543637.80    | 0.11%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAM LAKE MN CHRT SCH LEASE REV | City of Ham Lake MN                                                | CUSIP: 406511AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $739349.55    | 0.15%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE | City of Rochester MN                                               | CUSIP: 771902HJ5<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3071160.00   | 0.60%             | 2039-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANOKA-HENNEPIN MN INDEP SCH DI | Anoka-Hennepin Independent School District No 11                   | CUSIP: 0363034E2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $315969.00    | 0.06%             | 2032-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN HSG & HLTHCARE    | Deephaven Housing & Healthcare                                     | CUSIP: 24379CAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $618567.00    | 0.12%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JBE9<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    875000 | PA      | $917971.25    | 0.18%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN SENIOR HSG REVENUE   | City of Bethel MN                                                  | CUSIP: 08676PAQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2046534.00   | 0.40%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WSTRN MN MUNI PWR AGY          | Western Minnesota Municipal Power Agency                           | CUSIP: 958697LK8<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1129940.00   | 0.22%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                               | CUSIP: 74526QWX6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    210000 | PA      | $154612.50    | 0.03%             | 2027-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412ALJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3289980.00   | 0.65%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VDV2<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015870.00   | 0.20%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCY4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $844720.00    | 0.17%             | 2038-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE | City of Apple Valley MN                                            | CUSIP: 03800RAR7<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    465000 | PA      | $460815.00    | 0.09%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAKOTA CNTY MN CMNTY DEV AGY S | Dakota County Community Development Agency                         | CUSIP: 23410LBW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2380000 | PA      | $2214447.20   | 0.43%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297BY5<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1382745.00   | 0.27%             | 2047-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCA6<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1448216.50   | 0.28%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARSHALL MINN                  | City of Marshall MN                                                | CUSIP: 572500HP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $291684.25    | 0.06%             | 2028-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H3Z5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    250000 | PA      | $229835.00    | 0.05%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W SAINT PAUL MN HSG & HLTH CAR | City of West St Paul MN                                            | CUSIP: 95568PAQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $602790.00    | 0.12%             | 2052-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AWP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $139237.80    | 0.03%             | 2034-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OTSEGO CHRT SCH LEASE REVENUE  | City of Otsego MN                                                  | CUSIP: 689149AB8<br>LEI: 549300C7IZXQ4JXHZS47 | Long             | DBT              | MUN               | US        |    520000 | PA      | $497239.60    | 0.10%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 6041294R4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3875000 | PA      | $4011555.00   | 0.79%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN SENIOR HSG REVENUE   | City of Bethel MN                                                  | CUSIP: 08676PAN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $413950.50    | 0.08%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444JL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125237.50    | 0.02%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $950510.00    | 0.19%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444JS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $520920.40    | 0.10%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROOKSTON MN HLTH CARE FACS RE | City of Crookston MN                                               | CUSIP: 227235BJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1362525.00   | 0.27%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JBF6<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    925000 | PA      | $896130.75    | 0.18%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 85236DAK4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1280522.10   | 0.25%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| W SAINT PAUL MN HSG & HLTH CAR | City of West St Paul MN                                            | CUSIP: 95568PAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $210375.00    | 0.04%             | 2040-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $226270.80    | 0.04%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE | City of Rochester MN                                               | CUSIP: 771902GU1<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |    650000 | PA      | $658866.00    | 0.13%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416TCQ9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1195000 | PA      | $824681.45    | 0.16%             | 2051-01-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CHE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2864620.50   | 0.56%             | 2053-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN STUDENT HSG REV | City of Minneapolis MN                                             | CUSIP: 60379NBY1<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2264068.00   | 0.44%             | 2049-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                        | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    191584 | PA      | $160120.16    | 0.03%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HENNEPIN CNTY MN               | County of Hennepin MN                                              | CUSIP: 425507FD7<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1687335.00   | 0.33%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUNI PWR AGY ELEC | Minnesota Municipal Power Agency                                   | CUSIP: 60412PEX4<br>LEI: 5493007DGBKI6ICBXO38 | Long             | DBT              | MUN               | US        |    750000 | PA      | $777285.00    | 0.15%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AGR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2525000 | PA      | $2732277.25   | 0.54%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CCA0<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1011718.40   | 0.20%             | 2057-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                        | CUSIP: 74514L4G9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   3501999 | PA      | $1243209.73   | 0.24%             | 2051-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827YQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $440782.80    | 0.09%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TBP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $890154.00    | 0.17%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CJG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $203467.40    | 0.04%             | 2034-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VEE9<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   5600000 | PA      | $5023088.00   | 0.99%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SENIOR HSG & HL | City of Minneapolis MN                                             | CUSIP: 603787AN2<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    455000 | PA      | $416675.35    | 0.08%             | 2050-11-01      | Fixed         | 5.38%                 | 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        |  31552000 | PA      | $5936824.32   | 1.16%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AYK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1141200.00   | 0.22%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519165.00    | 0.10%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SARTELL MN HLTH CARE & HSG FAC | City of Sartell MN                                                 | CUSIP: 803807AX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1133004.00   | 0.22%             | 2037-09-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792905DH1<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   4760000 | PA      | $4910130.40   | 0.96%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792888KM0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    910000 | PA      | $964718.30    | 0.19%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN | City of St Cloud MN                                                | CUSIP: 78916VDR8<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   5275000 | PA      | $5372745.75   | 1.05%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CGZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1910220.00   | 0.37%             | 2043-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1 | Minneapolis Special School District No 1                           | CUSIP: 603790QG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1324653.30   | 0.26%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TBQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522085.00    | 0.10%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792908CH6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $2623902.00   | 0.51%             | 2048-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792905DE8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2280828.00   | 0.45%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAYWARD MN HLTH CARE FACS REVE | City of Hayward MN                                                 | CUSIP: 421306AB7<br>LEI: 549300YF6QD4DXUDGL81 | Long             | DBT              | MUN               | US        |    660000 | PA      | $575863.20    | 0.11%             | 2034-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027940.00   | 0.20%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN ELEC UTILITY REVE | City of Rochester MN Electric Utility Revenue                      | CUSIP: 77158PGF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2265000 | PA      | $2412111.75   | 0.47%             | 2047-12-01      | 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        |   1250000 | PA      | $928125.00    | 0.18%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416HS88<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $520455.00    | 0.10%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WSTRN MN MUNI PWR AGY          | Western Minnesota Municipal Power Agency                           | CUSIP: 958697HW7<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002020.00   | 0.20%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                               | CUSIP: 74526QWE8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    925000 | PA      | $693750.00    | 0.14%             | 2036-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 6041294P8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4200000 | PA      | $4357038.00   | 0.85%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE | City of Apple Valley MN                                            | CUSIP: 03800RAU0<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   3220000 | PA      | $3075454.20   | 0.60%             | 2058-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TBU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1837360.00   | 0.36%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827F27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12600000 | PA      | $12904416.00  | 2.53%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCW8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $483575.00    | 0.09%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HENNEPIN CNTY MN               | County of Hennepin MN                                              | CUSIP: 425507GV6<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   2850000 | PA      | $3087547.50   | 0.61%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TBL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1477098.00   | 0.29%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEVILLE MN INDEP SCH DIST #1 | Lakeville Independent School District No 194                       | CUSIP: 512462YG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057060.00   | 0.21%             | 2028-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WSTRN MN MUNI PWR AGY          | Western Minnesota Municipal Power Agency                           | CUSIP: 958697JR6<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4101920.00   | 0.80%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H3N2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    415000 | PA      | $421681.50    | 0.08%             | 2036-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SARTELL MN HLTH CARE & HSG FAC | City of Sartell MN                                                 | CUSIP: 803807BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $961110.00    | 0.19%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H3V4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1350314.25   | 0.26%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AED1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7590000 | PA      | $8050561.20   | 1.58%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VEA7<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054980.00   | 0.21%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATFIELD MN HLTHCARE & HSG FA | City of Chatfield MN                                               | CUSIP: 161818AS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $419910.00    | 0.08%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTER CITY MN HLTH CARE FACSR | City of Center City MN                                             | CUSIP: 151452BK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1701785.00   | 0.33%             | 2034-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1 | Minneapolis Special School District No 1                           | CUSIP: 603790ST4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1689558.60   | 0.33%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAKOTA CNTY MN CMNTY DEV AGY S | Dakota County Community Development Agency                         | CUSIP: 23410LBV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $272414.80    | 0.05%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CJM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $133216.50    | 0.03%             | 2039-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CKC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $368568.00    | 0.07%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CKD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $345366.80    | 0.07%             | 2037-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HENNEPIN CNTY MN               | County of Hennepin MN                                              | CUSIP: 425507EK2<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1089210.00   | 0.21%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $424140.00    | 0.08%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE | City of Apple Valley MN                                            | CUSIP: 03800RBF2<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    500000 | PA      | $397125.00    | 0.08%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $552640.40    | 0.11%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460PH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2795697.00   | 0.55%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STHRN MINNESOTA ST MUNI PWR AG | Southern Minnesota Municipal Power Agency                          | CUSIP: 843375QM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4702450.00   | 0.92%             | 2025-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297CK4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    735000 | PA      | $719197.50    | 0.14%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DULUTH MN                      | City of Duluth MN                                                  | CUSIP: 264438X72<br>LEI: 54930056ACOJTRDUDE38 | Long             | DBT              | MUN               | US        |    630000 | PA      | $669135.60    | 0.13%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412APH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $2307711.25   | 0.45%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUNI PWR AGY ELEC | Minnesota Municipal Power Agency                                   | CUSIP: 60412PDX5<br>LEI: 5493007DGBKI6ICBXO38 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1248837.90   | 0.24%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENNEPIN CNTY MN               | County of Hennepin MN                                              | CUSIP: 425507DQ0<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |    940000 | PA      | $1010171.00   | 0.20%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN SALES TAX REVENU | City of St Paul MN Sales & Use Tax Revenue                         | CUSIP: 79307TCD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $680099.60    | 0.13%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460PG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3352641.25   | 0.66%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST GEN FUND REVENUE  | State of Minnesota                                                 | CUSIP: 604146CS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1259312.50   | 0.25%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AKN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4875000 | PA      | $5293421.25   | 1.04%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAUK RAPIDS MN HLTH CARE HSG F | City of Sauk Rapids MN                                             | CUSIP: 804359BW6<br>LEI: 549300EEYEG1XIKNKU21 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1176174.00   | 0.23%             | 2039-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DULUTH MN HSG & REDEV AUTH CHR | Duluth Housing & Redevelopment Authority                           | CUSIP: 264454AG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $654710.00    | 0.13%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN CHARTER SCH LEASE | City of Deephaven MN                                               | CUSIP: 24380HAS1<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1994260.00   | 0.39%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HUGO MN CHTR SCH LEASE REVENUE | City of Hugo MN                                                    | CUSIP: 444584AJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $566526.60    | 0.11%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827F35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2035760.00   | 0.40%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $226907.10    | 0.04%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURNSVILLE MN INDEP SCH DIST # | Burnsville-Eagan-Savage Independent School District No 191         | CUSIP: 122475YD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $942705.60    | 0.18%             | 2028-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CROOKSTON MN HLTH CARE FACS RE | City of Crookston MN                                               | CUSIP: 227235BL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1396289.90   | 0.27%             | 2051-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416HL28<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    670000 | PA      | $704726.10    | 0.14%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCV0<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $489325.00    | 0.10%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $372715.00    | 0.07%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CJN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $584392.00    | 0.11%             | 2044-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HENNEPIN CNTY MN               | County of Hennepin MN                                              | CUSIP: 425507GB0<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3220440.00   | 0.63%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416SMA5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1613186.35   | 0.32%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1 | Minneapolis Special School District No 1                           | CUSIP: 603790QE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $970505.55    | 0.19%             | 2036-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AWT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $651200.00    | 0.13%             | 2038-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCS7<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    290000 | PA      | $289971.00    | 0.06%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AGQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6492540.00   | 1.27%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST GEN FUND REVENUE  | State of Minnesota                                                 | CUSIP: 604146CH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3835000 | PA      | $3859812.45   | 0.76%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN SENIOR HSG REVENUE   | City of Bethel MN                                                  | CUSIP: 08676PAP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $862090.00    | 0.17%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416HS96<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    250000 | PA      | $259782.50    | 0.05%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLOOMING PRAIRIE MN INDEP SCH  | Blooming Prairie Independent School District No 756                | CUSIP: 094311EX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198518.00    | 0.04%             | 2033-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUNI PWR AGY ELEC | Minnesota Municipal Power Agency                                   | CUSIP: 60412PET3<br>LEI: 5493007DGBKI6ICBXO38 | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1102029.00   | 0.22%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 85236DAN8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    365000 | PA      | $373077.45    | 0.07%             | 2033-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET COUNCIL MINNEAPOLIS-SAINT  | Metropolitan Council                                               | CUSIP: 591852F45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3225000 | PA      | $3374124.00   | 0.66%             | 2032-03-01      | 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        |   1875000 | PA      | $1392187.50   | 0.27%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1 | Minneapolis Special School District No 1                           | CUSIP: 603790UW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1973801.70   | 0.39%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN HSG AND HLTHCARE REV | City of Bethel MN Housing and Health Care Facilities Revenue       | CUSIP: 08675TAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2350000 | PA      | $1935413.00   | 0.38%             | 2048-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297AX8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1344772.80   | 0.26%             | 2045-07-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JCC2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   2395000 | PA      | $2516282.80   | 0.49%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN IRON-BUHL MN INDEP SC | Mountain Iron-Buhl Independent School District No 712              | CUSIP: 624142CV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1362077.00   | 0.27%             | 2026-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CBV5<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $472765.00    | 0.09%             | 2057-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416SMB3<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1694827.05   | 0.33%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRAINERD MN INDEP SCH DIST #18 | Brainerd Independent School District No 181                        | CUSIP: 105007ND6<br>LEI: 549300P1U3THZTOHA392 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1524660.00   | 0.30%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                               | CUSIP: 74526QZY1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    430000 | PA      | $317125.00    | 0.06%             | 2042-07-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CBU7<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    750000 | PA      | $711420.00    | 0.14%             | 2042-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HAM LAKE MN CHRT SCH LEASE REV | City of Ham Lake MN                                                | CUSIP: 406511AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2290000 | PA      | $2073686.60   | 0.41%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $414217.80    | 0.08%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN ELEC UTILITY REVE | City of Rochester MN Electric Utility Revenue                      | CUSIP: 77158PGE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1492078.05   | 0.29%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST CLGS & UNIV REVEN | Minnesota State Colleges And Universities Foundation               | CUSIP: 60414FQB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4990000 | PA      | $5393641.10   | 1.06%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN | City of St Cloud MN                                                | CUSIP: 78916VDW7<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   5315000 | PA      | $4814433.30   | 0.94%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN | City of St Cloud MN                                                | CUSIP: 78916VDV9<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   4690000 | PA      | $4796650.60   | 0.94%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827ZA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1647284.10   | 0.32%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN | City of Minneapolis MN/St Paul Housing & Redevelopment Authority   | CUSIP: 603695FV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2300000.00   | 0.45%             | 2035-11-15      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460US7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5880000 | PA      | $6492402.00   | 1.27%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN | City of Bethel MN                                                  | CUSIP: 086759AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $302016.00    | 0.06%             | 2052-07-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H7L2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1066222.20   | 0.21%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416JDB3<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    565000 | PA      | $530535.00    | 0.10%             | 2050-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416HZ80<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501920.00    | 0.10%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827YX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $632028.00    | 0.12%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENNEPIN CNTY MN               | County of Hennepin MN                                              | CUSIP: 425507DE7<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   2635000 | PA      | $2870068.35   | 0.56%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CBZ6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1316721.60   | 0.26%             | 2052-07-01      | Fixed         | 5.50%                 | 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        |   2750000 | PA      | $693055.00    | 0.14%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827WC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016800.00   | 0.20%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827K47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1289277.70   | 0.25%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHASKA MN ELEC REVENUE         | City of Chaska MN Electric Revenue                                 | CUSIP: 161670EZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $371199.50    | 0.07%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHITE BEAR LAKE MN INDEP SCH D | White Bear Lake Independent School District No 624                 | CUSIP: 963439C36<br>LEI: 549300I7BXOUJLASQ618 | Long             | DBT              | MUN               | US        |   3400000 | PA      | $2821898.00   | 0.55%             | 2042-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HENNEPIN CNTY MN               | County of Hennepin MN                                              | CUSIP: 425507DR8<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073480.00   | 0.21%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CKL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503885.00    | 0.10%             | 2052-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416HK94<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    745000 | PA      | $783829.40    | 0.15%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792888KN8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    670000 | PA      | $710287.10    | 0.14%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792909FM0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1590888.00   | 0.31%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN ELEC UTILITY REVE | City of Rochester MN Electric Utility Revenue                      | CUSIP: 77158PDN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1397896.50   | 0.27%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AWV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1451905.20   | 0.28%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $237481.20    | 0.05%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H7H1<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013820.00   | 0.20%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $433848.50    | 0.09%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTER CITY MN HLTH CARE FACSR | City of Center City MN                                             | CUSIP: 151452BD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $616050.00    | 0.12%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE | City of Rochester MN                                               | CUSIP: 771902HM8<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6739937.50   | 1.32%             | 2057-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE & HSG R | City of Rochester MN                                               | CUSIP: 771906CV4<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   2980000 | PA      | $3011439.00   | 0.59%             | 2048-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN SALES TAX REVENU | City of St Paul MN Sales & Use Tax Revenue                         | CUSIP: 79307TCE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1556340.00   | 0.31%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                               | CUSIP: 74526QVZ2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    260000 | PA      | $191425.00    | 0.04%             | 2026-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN REVENUE         | City of Minneapolis MN                                             | CUSIP: 603786JM7<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254717.50    | 0.05%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412APN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2675302.00   | 0.52%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE | City of Apple Valley MN                                            | CUSIP: 03800RBG0<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    500000 | PA      | $378340.00    | 0.07%             | 2061-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROOKLYN PK MN CHRT SCH LEASE  | City of Brooklyn Park MN                                           | CUSIP: 114224AD0<br>LEI: 549300SRSB2KMQNYBB75 | Long             | DBT              | MUN               | US        |    385000 | PA      | $348694.50    | 0.07%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN ELEC UTILITY REVE | City of Rochester MN Electric Utility Revenue                      | CUSIP: 77158PDQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $307230.00    | 0.06%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1 | Minneapolis Special School District No 1                           | CUSIP: 603790UX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $2181694.00   | 0.43%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $737270.80    | 0.14%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA | City of Forest Lake MN                                             | CUSIP: 345856AU2<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |    400000 | PA      | $383896.00    | 0.08%             | 2043-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WSTRN MN MUNI PWR AGY          | Western Minnesota Municipal Power Agency                           | CUSIP: 958697KL7<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1375699.00   | 0.27%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460QJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1672008.00   | 0.33%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VDS9<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $516995.00    | 0.10%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENCOE MN HLTHCARE FACS REVEN | City of Glencoe MN                                                 | CUSIP: 378160BT1<br>LEI: 549300YD6XHLXYWWYP70 | Long             | DBT              | MUN               | US        |    660000 | PA      | $659967.00    | 0.13%             | 2025-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NTHRN MN MUNI PWR AGY ELEC SYS | Northern Municipal Power Agency                                    | CUSIP: 665444KY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $192288.60    | 0.04%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHASKA MN INDEP SCH DIST #112  | Chaska Independent School District No 112                          | CUSIP: 161681TW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1905000 | PA      | $2044217.40   | 0.40%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN HSG & HLTHCARE    | Deephaven Housing & Healthcare                                     | CUSIP: 24379CAL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $261062.55    | 0.05%             | 2048-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN | City of Minneapolis MN/St Paul Housing & Redevelopment Authority   | CUSIP: 603695FU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.10%             | 2035-11-15      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| DULUTH MN INDEP SCH DIST #709  | Duluth Independent School District No 709                          | CUSIP: 264474HB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1270425.00   | 0.25%             | 2028-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1 | Minneapolis Special School District No 1                           | CUSIP: 603790RH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $609228.00    | 0.12%             | 2039-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H3Y8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1224800.00   | 0.24%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANOKA-HENNEPIN MN INDEP SCH DI | Anoka-Hennepin Independent School District No 11                   | CUSIP: 0363034T9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2110004.00   | 0.41%             | 2045-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CENTER CITY MN HLTH CARE FACSR | City of Center City MN                                             | CUSIP: 151452CD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1793300.00   | 0.35%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297CD0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000300.00   | 0.20%             | 2046-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COLOGNE MN CHRT SCH LEASE REVE | City of Cologne MN                                                 | CUSIP: 195239AK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1705000 | PA      | $1556392.20   | 0.31%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUGO MN CHTR SCH LEASE REVENUE | City of Hugo MN                                                    | CUSIP: 444584AK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2545000 | PA      | $2319360.30   | 0.45%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENNEPIN CNTY MN               | County of Hennepin MN                                              | CUSIP: 425507FU9<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1356066.45   | 0.27%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $433385.25    | 0.08%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HIBBING MN INDEP SCH DIST #701 | Hibbing Independent School District No 701                         | CUSIP: 428599AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1036925.00   | 0.20%             | 2041-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460QK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $801727.50    | 0.16%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Higher Education Facilities Authority                    | CUSIP: 60416H4Y7<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   6600000 | PA      | $6747642.00   | 1.32%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AYM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1695855.00   | 0.33%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N W MULTI-CNTY MN HSG & REDEV  | Northwest Multi-County Housing & Redevelopment Authority           | CUSIP: 667579DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1262422.70   | 0.25%             | 2045-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416TCN6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    630000 | PA      | $471315.60    | 0.09%             | 2040-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SENIOR HSG & HL | City of Minneapolis MN                                             | CUSIP: 603787AK8<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $460545.00    | 0.09%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANOKA MN HLTHCARE & HSG FAC RE | City of Anoka MN                                                   | CUSIP: 03632RAH3<br>LEI: 549300R336CIYVDY0N47 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $921008.00    | 0.18%             | 2049-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Voyageur Tax Free Funds

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

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