# EDGAR Filing Document

**Accession Number:** 0000906236
**File Stem:** 0001752724-23-014232
**Filing Date:** 2023-1
**Character Count:** 120061
**Document Hash:** dd1bd9c139f7119425e8f5ac45e08586
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-014232.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001752724-23-014232

**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 MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0000906236
- **IRS NUMBER:** 411720518
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07742
- **FILM NUMBER:** 23556059

**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 MUTUAL FUNDS INC
- **DATE OF NAME CHANGE:** 19930714

## Series and Classes Contracts Data

### DELAWARE TAX-FREE CALIFORNIA FUND (Series ID: S000002414)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000006415 | DELAWARE TAX-FREE CALIFORNIA FUND CLASS A | DVTAX           |
| C000006417 | DELAWARE TAX-FREE CALIFORNIA FUND CLASS C | DVFTX           |
| C000135926 | Institutional Class                       | DCTIX           |

## Nport-Ex

Schedule of investments

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

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds — 97.90%** | &nbsp;&nbsp;**Municipal Bonds — 97.90%** | &nbsp;&nbsp;**Municipal Bonds — 97.90%** |
| &nbsp;&nbsp;Corporate Revenue Bonds — 6.39% | &nbsp;&nbsp;Corporate Revenue Bonds — 6.39% | &nbsp;&nbsp;Corporate Revenue Bonds — 6.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Pollution Control Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Poseidon Resources (ChannelSide) LP Desalination Project)<br> 5.00% 11/21/45 (AMT) # | &nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;$892013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Pollution Control Financing AuthoritySolid Waste Disposal Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.00% 7/1/39 (AMT) #, ‡ | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Settlement Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Appreciation)<br> Subordinate Series B-2 0.889% 6/1/66 ^ | 12500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1345750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inland Empire Tobacco Securitization Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Capital Appreciation Turbo Asset-Backed)<br> Series F 144A 1.386% 6/1/57 #, ^ | 29440000 | &nbsp;&nbsp;&nbsp;&nbsp; 1353062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M-S-R Energy Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 6.50% 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 606655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tobacco Securitization Authority of Northern California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Sacramento County) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A Class 1 Senior 4.00% 6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 288771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A Class 1 Senior 4.00% 6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 286443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A Class 1 Senior 4.00% 6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 379140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A Class 1 Senior 4.00% 6/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 234528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A Class 1 Senior 4.00% 6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 278367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A Class 1 Senior 4.00% 6/1/49 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 860610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tobacco Securitization Authority of Southern California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(San Diego County) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Appreciation Second Subordinate Series C 0.603% 6/1/46 ^ | 16770000 | &nbsp;&nbsp;&nbsp;&nbsp; 2589623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Appreciation Third Subordinate Series D 0.317% 6/1/46 ^ | 4965000 | &nbsp;&nbsp;&nbsp;&nbsp; 599822 |
|  |  | &nbsp;&nbsp;&nbsp; 9864784 |
| &nbsp;&nbsp;Education Revenue Bonds — 18.36% | &nbsp;&nbsp;Education Revenue Bonds — 18.36% | &nbsp;&nbsp;Education Revenue Bonds — 18.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Community College Financing Authority<br> Student Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Napa Valley College Project)<br> Series A 144A 5.75% 7/1/60 # | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1422840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Educational Facilities Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Loma Linda University)<br> Series A 5.00% 4/1/47 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1049140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Stanford University - Green Bonds)<br> Series V-2 2.25% 4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 188814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Stanford University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series U-1 5.25% 4/1/40 | 1840000 | &nbsp;&nbsp;&nbsp;&nbsp; 2263733 |

---

NQ-329 [11/22] 01/23 (2679887) 1

------

Schedule of investments

Delaware Tax-Free California 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;California Educational Facilities Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Stanford University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series V-1 5.00% 5/1/49 | 1460000 | &nbsp;&nbsp;$1725866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Bella Mente Montessori Academy Project)<br> Series A 144A 5.00% 6/1/48 # | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 443445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(California Baptist University)<br> Series A 144A 5.375% 11/1/40 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1014600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CHF - Davis I, LLC - West Village Student Housing Project)<br> 5.00% 5/15/48 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 980220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Julian Charter School Project)<br> Series A 144A 5.625% 3/1/45 # | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp; 785562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Literacy First Charter Schools Project)<br> Series A 5.00% 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 752175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Southwestern Law School)<br> 4.00% 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp; 522048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Creative Center of Los Altos Project - Pinewood School and Oakwood School)<br> Series B 144A 4.50% 11/1/46 # | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 417025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Biola University)<br> 5.00% 10/1/39 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1042020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Emerson College)<br> Series B 5.00% 1/1/32 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1051670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 8/1/41 # | &nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp; 225905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Aspire Public Schools - Obligated Group Issue #3)<br> Series A 144A 5.00% 8/1/40 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1011160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Aspire Public Schools - Obligated Group)<br> Series A 144A 5.00% 8/1/45 # | &nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp; 715579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Classical Academies Project)<br> Series A 144A 5.00% 10/1/50 # | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Encore Education Obligated Group)<br> Series A 144A 5.00% 6/1/42 # | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 403115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Escuela Popular Project)<br> 144A 6.50% 7/1/50 # | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Granada Hills Charter Obligated Group)<br> 144A 5.00% 7/1/49 # | 1725000 | &nbsp;&nbsp;&nbsp;&nbsp; 1734436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Green Dot Public Schools Project)<br> Series A 144A 5.00% 8/1/35 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1017810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Grimmway Schools - Obligated Group)<br> Series A 144A 5.00% 7/1/36 # | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 500740 |

---

2 NQ-329 [11/22] 01/23 (2679887)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Hawking Steam Charter School Project)<br> Series A 144A 5.50% 7/1/62 # | &nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;$725431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ICEF - View Park Elementary & Middle Schools)<br> Series A 5.625% 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp; 579468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(John Adams Academies - Obligated Group)<br> Series A 144A 5.00% 7/1/52 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 884870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(KIPP LA Projects)<br> Series A 144A 5.125% 7/1/44 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1005600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(KIPP SoCal Projects)<br> Series A 144A 5.00% 7/1/49 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1004940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State University Systemwide Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 11/1/47 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1049200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(California Baptist University)<br> Series A 144A 6.125% 11/1/33 # | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 763650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mt. San Antonio Community College District Convertible<br> Capital Appreciation Election 2008 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 0.00% 8/1/28 ~ | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1085460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regents of the University of California General Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series BE 4.00% 5/15/50 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1480755 |
|  |  | &nbsp;&nbsp;&nbsp; 28348186 |
| &nbsp;&nbsp;Electric Revenue Bonds — 4.35% | &nbsp;&nbsp;Electric Revenue Bonds — 4.35% | &nbsp;&nbsp;Electric Revenue Bonds — 4.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guam Power Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Tax-Exempt Forward Delivery)<br> Series A 5.00% 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;970000 | &nbsp;&nbsp;&nbsp;&nbsp; 993202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Department of Water & Power Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Power System) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/42 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 5.00% 7/1/26 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2166340 |
| &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 5.00% 7/1/42 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 259000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.05% 7/1/42 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp; 51625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 6.75% 7/1/36 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp; 140138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series AAA 5.25% 7/1/25 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp; 29700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series CCC 5.25% 7/1/27 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp; 241313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series TT 5.00% 7/1/32 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp; 251600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.00% 7/1/28 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp; 347800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.25% 7/1/33 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp; 248737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.50% 7/1/38 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp; 544762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series XX 4.75% 7/1/26 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp; 33131 |

---

NQ-329 [11/22] 01/23 (2679887) 3

------

Schedule of investments

Delaware Tax-Free California 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 XX 5.25% 7/1/40 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;$170775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series XX 5.75% 7/1/36 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp; 112500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series ZZ 4.75% 7/1/27 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp; 25769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series ZZ 5.25% 7/1/24 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp; 40838 |
|  |  | &nbsp;&nbsp;&nbsp; 6713420 |
| &nbsp;&nbsp;Healthcare Revenue Bonds — 13.87% | &nbsp;&nbsp;Healthcare Revenue Bonds — 13.87% | &nbsp;&nbsp;Healthcare Revenue Bonds — 13.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Educational Facilities Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Stanford University)<br> Series V-2 5.00% 4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 591910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cedars-Sinai Health System)<br> Series A 3.00% 8/15/51 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1122345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cedars-Sinai Medical Center)<br> Series B 4.00% 8/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 506945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Children's Hospital Los Angeles)<br> Series A 5.00% 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 504790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Children's Hospital of Orange County)<br> Series A 2.125% 11/1/41 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1705050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CommonSpirit Health) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 4/1/45 | 1280000 | &nbsp;&nbsp;&nbsp;&nbsp; 1178547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 4/1/49 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 901770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Kaiser Permanente)<br> Subordinate Series A-2 4.00% 11/1/44 | 1005000 | &nbsp;&nbsp;&nbsp;&nbsp; 984840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Lucile Salter Packard Children's Hospital At Stanford)<br> Series A 4.00% 5/15/51 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 955830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp; 292906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 528250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Community Medical Centers)<br> Series A 5.00% 2/1/47 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1018790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Goodwill Industry of Sacramento Valley & Northern Nevada Project)<br> 5.00% 1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp; 541394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Northbay Healthcare Group)<br> Series A 5.25% 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 501930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority Senior Living<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Mt. San Antonio Gardens Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 574890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 11/15/56 | 1075000 | &nbsp;&nbsp;&nbsp;&nbsp; 800628 |

---

4 NQ-329 [11/22] 01/23 (2679887)

------

(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;California Public Finance Authority Senior Living Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Enso Village Project - Green Bonds)<br> Series A 144A 5.00% 11/15/51 # | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;$416235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Adventist Health System/West)<br> Series A 4.00% 3/1/48 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 939910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Emanate Health)<br> Series A 4.00% 4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp; 243033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Huntington Memorial Hospital)<br> 4.00% 7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 480905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(John Muir Health)<br> Series A 5.00% 8/15/51 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1534995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Marin General Hospital - Green Bonds)<br> Series A 4.00% 8/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 430720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Redlands Community Hospital)<br> 5.00% 10/1/46 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1011110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Enloe Medical Center)<br> Series A 5.25% 8/15/52 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2109400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palomar Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/47 (AGM) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 512700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Industrial Tourist Educational Medical &<br> Environmental Control Facilities Financing Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Hospital Auxilio Mutuo Obligated Group Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp; 485464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 543620 |
|  |  | &nbsp;&nbsp;&nbsp; 21418907 |
| &nbsp;&nbsp;Housing Revenue Bonds — 3.08% | &nbsp;&nbsp;Housing Revenue Bonds — 3.08% | &nbsp;&nbsp;Housing Revenue Bonds — 3.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Housing Finance Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2 Class A 4.00% 3/20/33 | &nbsp;&nbsp;&nbsp;&nbsp;476902 | &nbsp;&nbsp;&nbsp;&nbsp; 463148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSCDA Community Improvement Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Jefferson-Anaheim)<br> Series A-2 3.125% 8/1/56 # | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 996765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Independent Cities Finance Authority Mobile Home Park<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Pillar Ridge) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 5/15/44 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1014200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 5/15/49 | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1215516 |

---

NQ-329 [11/22] 01/23 (2679887) 5

------

Schedule of investments

Delaware Tax-Free California 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;Housing Revenue Bonds (continued) | &nbsp;&nbsp;Housing Revenue Bonds (continued) | &nbsp;&nbsp;Housing Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Housing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Union Portfolio Project)<br> Series A 4.00% 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;$140353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Santa Clara County Multifamily Housing Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(RiverTown Apartments Project)<br> Series A 5.85% 8/1/31 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp; 926887 |
|  |  | &nbsp;&nbsp;&nbsp; 4756869 |
| &nbsp;&nbsp;Lease Revenue Bonds — 3.99% | &nbsp;&nbsp;Lease Revenue Bonds — 3.99% | &nbsp;&nbsp;Lease Revenue Bonds — 3.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Infrastructure & Economic Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Academy of Motion Picture Arts & Sciences Obligated Group)<br> Series A 5.00% 11/1/41 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1014240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Orange County Civic Center Infrastructure Improvement Program - Phase II)<br> Series A 5.00% 6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 800678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State Public Works Board |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series E 3.00% 10/1/36 (AGM) | 1525000 | &nbsp;&nbsp;&nbsp;&nbsp; 1376114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Department of General Services - New Natural Resources)<br> Series C 4.00% 11/1/46 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 976350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Various Capital Projects)<br> Series I 5.50% 11/1/30 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1025800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oceanside Public Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(EL Corazon Aquatics Center Project)<br> 4.00% 11/1/49 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 961620 |
|  |  | &nbsp;&nbsp;&nbsp; 6154802 |
| &nbsp;&nbsp;Local General Obligation Bonds — 2.95% | &nbsp;&nbsp;Local General Obligation Bonds — 2.95% | &nbsp;&nbsp;Local General Obligation Bonds — 2.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anaheim School District Capital AppreciationElection of 2002 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 8/1/25 (NATL) ^ | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 923610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long Beach Community College District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 3.00% 8/1/38 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1082975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Unified School DistrictElection of 2008 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Dedicated Unlimited Ad Valorem Property Tax)<br> Series A 5.00% 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 519335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moreno Valley Unified School DistrictElection of 2014 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 8/1/43 (AGM) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 537330 |

---

6 NQ-329 [11/22] 01/23 (2679887)

------

(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;Palomar Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 8/1/37 | 1000000 | &nbsp;&nbsp;$996530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco Bay Area Rapid Transit District Election of<br> 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Green Bonds)<br> Series B-1 4.00% 8/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 501720 |
|  |  | &nbsp;&nbsp;&nbsp; 4561500 |
| &nbsp;&nbsp;Pre-Refunded Bonds — 4.83% | &nbsp;&nbsp;Pre-Refunded Bonds — 4.83% | &nbsp;&nbsp;Pre-Refunded Bonds — 4.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bay Area Toll Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series S-H 5.00% 4/1/44-29 § | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1142180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Sutter Health)<br> Series A 5.00% 8/15/43-25 § | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1062880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Partnerships to Uplift Communities Valley Project)<br> Series A 144A 6.75% 8/1/44-24 #, § | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1044350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Covenant Retirement Communities)<br> Series C 5.625% 12/1/36-23 § | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1028510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fresno Unified School DistrictElection of 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/41-26 § | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 542320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Settlement Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Enhanced Asset-Backed)<br> Series A 5.00% 6/1/45-25 § | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Haven Unified School DistrictElection of 2014 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 8/1/40-25 § | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1063340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Riverside County Transportation Commission Senior Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Current Interest Obligations)<br> Series A 5.75% 6/1/44-23 § | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 508315 |
|  |  | &nbsp;&nbsp;&nbsp; 7453775 |
| &nbsp;&nbsp;Special Tax Revenue Bonds — 17.99% | &nbsp;&nbsp;Special Tax Revenue Bonds — 17.99% | &nbsp;&nbsp;Special Tax Revenue Bonds — 17.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State Public Works Board |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Various Capital Projects) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 5/1/39 | 1555000 | &nbsp;&nbsp;&nbsp;&nbsp; 1579118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 5/1/46 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 975780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Irvine Limited Obligation Improvement Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Reassessment District No. 21-1)<br> 4.00% 9/2/46 (BAM) | 1340000 | &nbsp;&nbsp;&nbsp;&nbsp; 1320114 |

---

NQ-329 [11/22] 01/23 (2679887) 7

------

Schedule of investments

Delaware Tax-Free California Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Special Tax Revenue Bonds (continued) | &nbsp;&nbsp;Special Tax Revenue Bonds (continued) | &nbsp;&nbsp;Special Tax Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Subordinate)<br> 3.035% 11/1/43 • | 4472195 | &nbsp;&nbsp;$2040439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GDB Debt Recovery Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50% 8/20/40 | 5775348 | &nbsp;&nbsp;&nbsp;&nbsp; 4836854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matching Fund Special Purpose Securitization |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 515525 |
| &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 4.75% 7/1/53 | 2780000 | &nbsp;&nbsp;&nbsp;&nbsp; 2540086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 5.00% 7/1/58 | 1975000 | &nbsp;&nbsp;&nbsp;&nbsp; 1873900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 5.023% 7/1/51 ^ | 29949000 | &nbsp;&nbsp;&nbsp;&nbsp; 5635204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 8.957% 7/1/46 ^ | 8840000 | &nbsp;&nbsp;&nbsp;&nbsp; 2227857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.329% 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp; 665851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.329% 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 679440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sacramento Transient Occupancy Tax Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Convention Center Complex) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Series A 5.00% 6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 531545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Series A 5.00% 6/1/48 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1044590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco Facilities District No. 2021-01 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Public Facilities and Services)<br> 4.00% 9/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp; 798489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yucaipa Special Tax Community Facilities District No.<br> 98-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Chapman Heights)<br> 5.375% 9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 501990 |
|  |  | &nbsp;&nbsp;&nbsp; 27766782 |
| &nbsp;&nbsp;State General Obligation Bonds — 7.25% | &nbsp;&nbsp;State General Obligation Bonds — 7.25% | &nbsp;&nbsp;State General Obligation Bonds — 7.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 521115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Various Purpose) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 9/1/42 | 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1781465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 9/1/31 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1018030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 4/1/32 | 2820000 | &nbsp;&nbsp;&nbsp;&nbsp; 3344323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 4/1/37 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2011260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 8/1/46 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1051180 |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;99821 | &nbsp;&nbsp;&nbsp;&nbsp; 83427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 7/1/41 | 1716743 | &nbsp;&nbsp;&nbsp;&nbsp; 1379781 |
|  |  | &nbsp;&nbsp;&nbsp; 11190581 |

---

8 NQ-329 [11/22] 01/23 (2679887)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Transportation Revenue Bonds — 13.29% | &nbsp;&nbsp;Transportation Revenue Bonds — 13.29% | &nbsp;&nbsp;Transportation Revenue Bonds — 13.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Linxs Apm Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 12/31/47 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;$217113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/31/43 | 1745000 | &nbsp;&nbsp;&nbsp;&nbsp; 1764980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority Senior Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(LINXS APM Project)<br> Series A 5.00% 12/31/47 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp; 618592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foothill-Eastern Transportation Corridor Agency,<br> California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 1/15/46 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 920730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 4.00% 1/15/43 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1857720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long Beach Marina Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Alamitos Bay Marina Project)<br> 5.00% 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 506080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Department of Airports |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 5/15/44 (AMT) | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1399425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 5/15/33 (AMT) | 1390000 | &nbsp;&nbsp;&nbsp;&nbsp; 1518325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 5/15/46 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 304950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series F 4.00% 5/15/49 (AMT) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1814460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Los Angeles International Airport)<br> Senior Series D 5.00% 5/15/36 (AMT) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1024270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Port Authority of Guam Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Governmental)<br> Series A 5.00% 7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp; 379057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sacramento County Airport System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 7/1/39 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 516370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series B 5.00% 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 512770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Diego County Regional Airport Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 7/1/56 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1838760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 7/1/56 (AMT) (BAM) | &nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp; 611402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Diego Redevelopment Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Centre City Redevelopment Project)<br> Series A 6.40% 9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp; 476534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco City & County Airports Commission |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(San Francisco International Airport) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Second Series A 5.00% 5/1/34 (AMT) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Second Series A 5.00% 5/1/49 (AMT) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1019710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Second Series E 5.00% 5/1/50 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 509455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Jose Airport Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 3/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp; 609897 |

---

NQ-329 [11/22] 01/23 (2679887) 9

------

Schedule of investments

Delaware Tax-Free California Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Jose Airport Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 3/1/42 | 1000000 | &nbsp;&nbsp;$1032750 |
|  |  | &nbsp;&nbsp;&nbsp; 20515170 |
| &nbsp;&nbsp;Water & Sewer Revenue Bonds — 1.55% | &nbsp;&nbsp;Water & Sewer Revenue Bonds — 1.55% | &nbsp;&nbsp;Water & Sewer Revenue Bonds — 1.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Pollution Control Financing Authority Water<br> Furnishing Revenue Refunding Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Sandiego County Water Authority Desalination Project Pipeline)<br> 144A 5.00% 11/21/45 # | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 230437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sacramento County Sanitation Districts Financing<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/50 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2167800 |
|  |  | &nbsp;&nbsp;&nbsp; 2398237 |
| &nbsp;&nbsp;&nbsp;**Total Municipal Bonds (cost $160,070,130)** | &nbsp;&nbsp;&nbsp;**Total Municipal Bonds (cost $160,070,130)** | &nbsp;&nbsp;&nbsp;**151143013** |
| &nbsp;&nbsp;**Short-Term Investments — 1.36%** | &nbsp;&nbsp;**Short-Term Investments — 1.36%** | &nbsp;&nbsp;**Short-Term Investments — 1.36%** |
| &nbsp;&nbsp;Variable Rate Demand Notes — 1.36%¤ | &nbsp;&nbsp;Variable Rate Demand Notes — 1.36%¤ | &nbsp;&nbsp;Variable Rate Demand Notes — 1.36%¤ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Department of Water & Power Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series A-1 0.60% 7/1/50<br> (SPA - Royal Bank of Canada) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Water District of Southern California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-2 0.65% 7/1/37<br> (SPA - TD Bank N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp; 140000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regents of the University of California General Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series AL-1 0.60% 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp; 950000 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $2,090,000)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $2,090,000)** | &nbsp;&nbsp;&nbsp; **2090000** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.26%<br> (cost $162,160,130)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**153233013** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—0.74%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **1148971** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 14,347,051 Shares Outstanding—100.00%** |  | &nbsp;&nbsp;**$154381984** |

---

---

| |
|:---|
| 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 $19,660,479, which represents 12.74% of the Fund's net assets. |
| Non-income producing security. Security is currently in default. |
| Zero-coupon security. The rate shown is the effective yield at the time of purchase. |

---

10 NQ-329 [11/22] 01/23 (2679887)

------

(Unaudited)

---

| | |
|:---|:---|
| ~ | Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Stated rate in effect at November 30, 2022. |
| § | 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. |
| • | 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. |
| ¤ | Tax-exempt obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid principal balance plus accrued interest upon a short notice period (generally up to 30 days) prior to specified dates either from the issuer or by drawing on a bank letter of credit, a guarantee, or insurance issued with respect to such instrument. Each rate shown is as of November 30, 2022. |

---

---

| |
|:---|
| **Summary of abbreviations:** |
| AGM – Insured by Assured Guaranty Municipal Corporation |
| AMT – Subject to Alternative Minimum Tax |
| BAM – Insured by Build America Mutual Assurance |
| CHF – Collegiate Housing Foundation |
| ICE – Intercontinental Exchange, Inc. |
| ICEF – Inner City Education Foundation |
| KIPP – Knowledge is Power Program |
| LIBOR03M – ICE LIBOR USD 3 Month |
| LIBOR06M – ICE LIBOR USD 6 Month |
| LLC – Limited Liability Corporation |
| N.A. – National Association |
| NATL – Insured by National Public Finance Guarantee Corporation |
| SPA – Stand-by Purchase Agreement |
| USD – US Dollar |

---

NQ-329 [11/22] 01/23 (2679887) 11

## 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 Mutual Funds

- **b. Investment Company Act file number:** 811-07742

- **c. CIK number of Registrant:** 0000906236

- **d. LEI of Registrant:** 549300D8BQFTKREY6O09

- **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 California Fund

- **b. EDGAR series identifier (if any):** S000002414

- **c. LEI of Series:** I77CW6L89B72OZ5GY868

**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:** $158798052.95

**Total Liabilities:** $4784165.10

**Net Assets:** $154013887.85

**Delayed Delivery Securities:** $2112860.00

**Cash Not Reported:** $1196686.73

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 151.20248000 | **1-Year:** 1934.95977000 | **5-Year:** 14289.27827000 | **10-Year:** 99808.65372000 | **30-Year:** 37926.61558000

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

- **3-Month:** 0.00000000 | **1-Year:** 208.77999000 | **5-Year:** 492.41474000 | **10-Year:** 5455.66845000 | **30-Year:** 5361.04106000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006415 | -6.03%               | -1.45%               | 6.84%                |
| Class ID C000135926 | -6.01%               | -1.43%               | 6.86%                |
| Class ID C000006417 | -6.16%               | -1.51%               | 6.76%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-192929.54              | $-9613620.27                               |
| Month 2  | $-548395.26              | $-2120442.81                               |
| Month 3  | $-273001.34              | $9665164.51                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SACRAMENTO CA TRANSIENT OCCUPA | City of Sacramento CA Transient Occupancy Tax Revenue                           | CUSIP: 786073AW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044590.00   | 0.68%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                             | CUSIP: 13058TKB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011160.00   | 0.66%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UNG9<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504790.00    | 0.33%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH ST | Tobacco Securitization Authority of Southern California                         | CUSIP: 888804BB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4965000 | PA      | $599821.65    | 0.39%             | 2046-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048VBY3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1764980.25   | 1.15%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY &CNTY | San Francisco City & County Airport Comm-San Francisco International Airport    | CUSIP: 79766DLU1<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061820.00   | 0.69%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                          | CUSIP: 13080SYX6<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    255000 | PA      | $243032.85    | 0.16%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE & | California Infrastructure & Economic Development Bank                           | CUSIP: 13034AJA9<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014240.00   | 0.66%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QVE9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    730000 | PA      | $544762.50    | 0.35%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA | California School Finance Authority                                             | CUSIP: 13059TFU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004940.00   | 0.65%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALOMAR HLTH CA REVENUE        | Palomar Health                                                                  | CUSIP: 697528AV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512700.00    | 0.33%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048VCD8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    615000 | PA      | $618591.60    | 0.40%             | 2047-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UB31<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1122345.00   | 0.73%             | 2051-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                             | CUSIP: 13058TKA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250047.50    | 0.16%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CNTY CA SANTN DISTS | Sacramento County Sanitation Districts Financing Authority                      | CUSIP: 786134WA0<br>LEI: 549300MSDPX3EYMUYV38 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2167800.00   | 1.41%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth | CUSIP: 74527EFN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543620.00    | 0.35%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L | California State Public Works Board                                             | CUSIP: 13068XBT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $975780.00    | 0.63%             | 2046-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA UNIF SCH DIST   | Los Angeles Unified School District/CA                                          | CUSIP: 5446463Y6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519335.00    | 0.34%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048T6C2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051670.00   | 0.68%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INLAND EMPIRE CA TOBACCO SECUR | Inland Empire Tobacco Securitization Corp                                       | CUSIP: 45734TAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  29440000 | PA      | $1353062.40   | 0.88%             | 2057-06-01      | None          | 0.00%                 | 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        |    325000 | PA      | $241312.50    | 0.16%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048TWL3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014600.00   | 0.66%             | 2040-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH NT | Tobacco Securitization Authority of Northern California                         | CUSIP: 888794BT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $286443.00    | 0.19%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA BAY AREA RAPI | San Francisco Bay Area Rapid Transit District                                   | CUSIP: 797661YF6<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501720.00    | 0.33%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  29949000 | PA      | $5635203.84   | 3.66%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA | California School Finance Authority                                             | CUSIP: 13059TEK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250862.50    | 0.16%             | 2050-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH NT | Tobacco Securitization Authority of Northern California                         | CUSIP: 888794BU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $379140.00    | 0.25%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CNTY CA ARPT SYS RE | County of Sacramento CA Airport System Revenue                                  | CUSIP: 786107PF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512770.00    | 0.33%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CA TRANSIENT OCCUPA | City of Sacramento CA Transient Occupancy Tax Revenue                           | CUSIP: 786073AU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $531545.00    | 0.35%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDEP CITIES CA FIN AUTH MOBIL | Independent Cities Finance Authority                                            | CUSIP: 45385LEF6<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014200.00   | 0.66%             | 2044-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                             | CUSIP: 13058TEJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500740.00    | 0.33%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH NT | Tobacco Securitization Authority of Northern California                         | CUSIP: 888794BS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $288771.00    | 0.19%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QVX7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    230000 | PA      | $170775.00    | 0.11%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT | California Educational Facilities Authority                                     | CUSIP: 130179JF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049140.00   | 0.68%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES | University of California                                                        | CUSIP: 91412GSJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $950000.00    | 0.62%             | 2048-05-15      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF CMWL | GDB Debt Recovery Authority of Puerto Rico                                      | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5775348 | PA      | $4836853.77   | 3.14%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                             | CUSIP: 13063C5D8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051180.00   | 0.68%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WTR DIST OF STHRN CA WTRWK | Metropolitan Water District of Southern California                              | CUSIP: 59266TVP3<br>LEI: 5493003GD0S0P56RLT45 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140000.00    | 0.09%             | 2037-07-01      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA REGL ARPT AU | San Diego County Regional Airport Authority                                     | CUSIP: 79739GNB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1838760.00   | 1.19%             | 2056-07-01      | 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        |    470000 | PA      | $347800.00    | 0.23%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA REDEV AGY         | San Diego Redevelopment Agency Successor Agency                                 | CUSIP: 797300PP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $476534.25    | 0.31%             | 2025-09-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CA UNIF SCH DIST     | New Haven Unified School District                                               | CUSIP: 645002ZW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063340.00   | 0.69%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                             | CUSIP: 13063DU97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1781465.00   | 1.16%             | 2042-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2780000 | PA      | $2540086.00   | 1.65%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                             | CUSIP: 13058TLZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225904.50    | 0.15%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048VCA4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    250000 | PA      | $217112.50    | 0.14%             | 2047-12-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                      | CUSIP: 544445CC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304950.00    | 0.20%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY &CNTY | San Francisco City & County Airport Comm-San Francisco International Airport    | CUSIP: 79766DSA8<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509455.00    | 0.33%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA REGL ARPT AU | San Diego County Regional Airport Authority                                     | CUSIP: 79739GPP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $611402.10    | 0.40%             | 2056-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN | California Pollution Control Financing Authority                                | CUSIP: 13054WAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $892013.00    | 0.58%             | 2045-11-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Age | California Housing Finance Agency                                               | CUSIP: 13033DAC9<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | MUN               | US        |    476903 | PA      | $463148.65    | 0.30%             | 2033-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P | Los Angeles Department of Water & Power                                         | CUSIP: 544532FX7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2166340.00   | 1.41%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P | Los Angeles Department of Water & Power                                         | CUSIP: 544532BQ6<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.65%             | 2050-07-01      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                          | CUSIP: 13080SUG7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $430720.00    | 0.28%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UXE3<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1178547.20   | 0.77%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                          | CUSIP: 13080STJ3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $480905.00    | 0.31%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                             | CUSIP: 13063DQV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521115.00    | 0.34%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1716743 | PA      | $1379780.68   | 0.90%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048TA37<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $417025.00    | 0.27%             | 2046-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH NT | Tobacco Securitization Authority of Northern California                         | CUSIP: 888794BW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $278367.00    | 0.18%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048VB64<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    575000 | PA      | $522048.25    | 0.34%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                          | CUSIP: 13080SM76<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2109400.00   | 1.37%             | 2052-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SE | California Municipal Finance Authority                                          | CUSIP: 13049RBS4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $800627.75    | 0.52%             | 2056-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN | California Pollution Control Financing Authority                                | CUSIP: 130536RA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $150000.00    | 0.10%             | 2039-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CNTY CA ARPT SYS RE | County of Sacramento CA Airport System Revenue                                  | CUSIP: 786107RY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516370.00    | 0.34%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANAHEIM CA CITY SCH DIST       | Anaheim City School District/CA                                                 | CUSIP: 03254CDS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $923610.00    | 0.60%             | 2025-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REVENUE          | Guam Power Authority                                                            | CUSIP: 400653KG5<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |    970000 | PA      | $993202.40    | 0.64%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048TS20<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018790.00   | 0.66%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   4472195 | PA      | $2040438.89   | 1.32%             | 2043-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO | California Municipal Finance Authority                                          | CUSIP: 130493CL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $528250.00    | 0.34%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT | California Educational Facilities Authority                                     | CUSIP: 130179TM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $188814.00    | 0.12%             | 2051-04-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH ST | Tobacco Securitization Authority of Southern California                         | CUSIP: 888804BA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16770000 | PA      | $2589623.40   | 1.68%             | 2046-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH PORT REVENUE    | Port Authority of Guam                                                          | CUSIP: 400652AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $379057.50    | 0.25%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT WTR & PWR  | Los Angeles Department of Water & Power                                         | CUSIP: 544495DV3<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    650000 | PA      | $650000.00    | 0.42%             | 2035-07-01      | Variable      | 0.57%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI | Golden State Tobacco Securitization Corp                                        | CUSIP: 38122NYK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061880.00   | 0.69%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                             | CUSIP: 13063B3W0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2011260.00   | 1.31%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048VKN7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    290000 | PA      | $292905.80    | 0.19%             | 2028-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH NT | Tobacco Securitization Authority of Northern California                         | CUSIP: 888794BV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $234527.50    | 0.15%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $679440.00    | 0.44%             | 2040-07-01      | Fixed         | 4.33%                 | 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        |    150000 | PA      | $112500.00    | 0.07%             | 2036-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SAN JOSE CA ARPT REVENUE       | Norman Y Mineta San Jose International Airport SJC                              | CUSIP: 798136WR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032750.00   | 0.67%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH ST | California Municipal Finance Authority                                          | CUSIP: 13049YBM2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980220.00    | 0.64%             | 2048-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                             | CUSIP: 13058TQF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $884870.00    | 0.57%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                          | CUSIP: 13080SMT8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1534995.00   | 1.00%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                          | CUSIP: 13080SAU8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028510.00   | 0.67%             | 2036-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BAY AREA CA TOLL AUTH TOLL BRI | Bay Area Toll Authority                                                         | CUSIP: 072024VX7<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1142180.00   | 0.74%             | 2044-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IRVINE CA IMPT BOND ACT 1915   | City of Irvine CA                                                               | CUSIP: 46360RH75<br>LEI: 549300PJ9FL2XGFR8J79 | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1320114.40   | 0.86%             | 2046-09-02      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth | CUSIP: 74527EFL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $485463.85    | 0.32%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST UNIV REVENUE     | California State University                                                     | CUSIP: 13077DAY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049200.00   | 0.68%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L | California State Public Works Board                                             | CUSIP: 13068XDF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $976350.00    | 0.63%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048TP49<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501930.00    | 0.33%             | 2047-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MORENO VLY CA UNIF SCH DIST    | Moreno Valley Unified School District/CA                                        | CUSIP: 616871KY4<br>LEI: 549300G4WBO7HSZKUD51 | Long             | DBT              | MUN               | US        |    500000 | PA      | $537330.00    | 0.35%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT WTR & PWR  | Los Angeles Department of Water & Power                                         | CUSIP: 544495Z64<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056190.00   | 0.69%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA | California School Finance Authority                                             | CUSIP: 13059TGK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1734435.75   | 1.13%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN | M-S-R Energy Authority                                                          | CUSIP: 55374SAF7<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |    500000 | PA      | $606655.00    | 0.39%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FOOTHILL ESTRN TRANSPRTN CORRI | Foothill-Eastern Transportation Corridor Agency                                 | CUSIP: 345105JH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $920730.00    | 0.60%             | 2046-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                             | CUSIP: 13058TEC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $403115.00    | 0.26%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA HSG AUTH MTGE R | Los Angeles Housing Authority                                                   | CUSIP: 54456FDG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $140352.75    | 0.09%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MOUNT SAN ANTONIO CA CMNTY CLG | Mount San Antonio Community College District                                    | CUSIP: 623040FV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085460.00   | 0.70%             | 2028-08-01      | None          | 0.00%                 | 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        |     35000 | PA      | $25768.75     | 0.02%             | 2027-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                      | CUSIP: 544445JN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1399425.00   | 0.91%             | 2044-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FOOTHILL ESTRN TRANSPRTN CORRI | Foothill-Eastern Transportation Corridor Agency                                 | CUSIP: 345105JJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1857720.00   | 1.21%             | 2043-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                             | CUSIP: 13058TRE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $725431.00    | 0.47%             | 2062-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                          | CUSIP: 13080SBX1<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    750000 | PA      | $763650.00    | 0.50%             | 2033-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FRESNO CA UNIF SCH DIST        | Fresno Unified School District                                                  | CUSIP: 3582324S2<br>LEI: 549300WL4QIP65TFU882 | Long             | DBT              | MUN               | US        |    500000 | PA      | $542320.00    | 0.35%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDEP CITIES CA FIN AUTH MOBIL | Independent Cities Finance Authority                                            | CUSIP: 45385LEG4<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1215516.00   | 0.79%             | 2049-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES | University of California                                                        | CUSIP: 91412HHJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1480755.00   | 0.96%             | 2050-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT | California Educational Facilities Authority                                     | CUSIP: 130179TN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $591910.00    | 0.38%             | 2051-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH EDU | California School Finance Authority                                             | CUSIP: 130591AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044350.00   | 0.68%             | 2044-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH NT | Tobacco Securitization Authority of Northern California                         | CUSIP: 888794BX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $860610.00    | 0.56%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA CMNTY IMPT AUTH CA ESSEN | CSCDA Community Improvement Authority                                           | CUSIP: 126292AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $996765.00    | 0.65%             | 2056-08-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CH | California Municipal Finance Authority                                          | CUSIP: 130486BC6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $443445.00    | 0.29%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATCHING FUND SPL PURPOSE SECU | Matching Fund Special Purpose Securitization Corp                               | CUSIP: 57665NAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515525.00    | 0.33%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UMN5<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $984839.70    | 0.64%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QKW1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    340000 | PA      | $251600.00    | 0.16%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                      | CUSIP: 544445NV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1814460.00   | 1.18%             | 2049-05-15      | Fixed         | 4.00%                 | 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        |     45000 | PA      | $33131.25     | 0.02%             | 2026-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA | California School Finance Authority                                             | CUSIP: 13059TAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005600.00   | 0.65%             | 2044-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UYS1<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955830.00    | 0.62%             | 2051-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8840000 | PA      | $2227856.80   | 1.45%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UXF0<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $901770.00    | 0.59%             | 2049-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OCEANSIDE CA PUBLIC FING AUTH  | Oceanside Public Financing Authority                                            | CUSIP: 67537MAY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $961620.00    | 0.62%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048TX32<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042020.00   | 0.68%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA MARINA REVENUE   | City of Long Beach CA Marina System Revenue                                     | CUSIP: 542426DA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506080.00    | 0.33%             | 2045-05-15      | 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        |    335000 | PA      | $248737.50    | 0.16%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UKB3<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506945.00    | 0.33%             | 2036-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     99821 | PA      | $83427.40     | 0.05%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L | California State Public Works Board                                             | CUSIP: 13068LKX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025800.00   | 0.67%             | 2030-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L | California State Public Works Board                                             | CUSIP: 13068LD51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1376114.25   | 0.89%             | 2036-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE CNTY CA TRANSPRTN CO | Riverside County Transportation Commission                                      | CUSIP: 76912DAA6<br>LEI: 5493003G0IESJS57M350 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508315.00    | 0.33%             | 2044-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA | California School Finance Authority                                             | CUSIP: 13059TCC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017810.00   | 0.66%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UAR9<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062880.00   | 0.69%             | 2043-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                          | CUSIP: 13080SPM0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011110.00   | 0.66%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI | Golden State Tobacco Securitization Corp                                        | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12500000 | PA      | $1345750.00   | 0.87%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SAN JOSE CA ARPT REVENUE       | Norman Y Mineta San Jose International Airport SJC                              | CUSIP: 798136WP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $609896.75    | 0.40%             | 2036-03-01      | Fixed         | 5.00%                 | 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        |     40000 | PA      | $29700.00     | 0.02%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH LE | California Municipal Finance Authority                                          | CUSIP: 13049UEY1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    750000 | PA      | $800677.50    | 0.52%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN | California Pollution Control Financing Authority                                | CUSIP: 13054WAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $230437.50    | 0.15%             | 2045-11-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YUCAIPA CA SPL TAX             | City of Yucaipa CA                                                              | CUSIP: 98839UDV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501990.00    | 0.33%             | 2030-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA CMNTY CLG DIST   | Long Beach Community College District                                           | CUSIP: 542411PX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1082975.00   | 0.70%             | 2038-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $665851.20    | 0.43%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                          | CUSIP: 13080SWK6<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $939910.00    | 0.61%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN | California Public Finance Authority                                             | CUSIP: 13057GAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $416235.00    | 0.27%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS   | City of Los Angeles Department of Airports                                      | CUSIP: 5444357N4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024270.00   | 0.67%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $1873899.75   | 1.22%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QA69<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    185000 | PA      | $140137.50    | 0.09%             | 2036-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SANTA CLARA CNTY CA HSG AUTH   | Santa Clara County Housing Authority                                            | CUSIP: 801617EM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $926887.00    | 0.60%             | 2031-08-01      | Fixed         | 5.85%                 | 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        |     55000 | PA      | $40837.50     | 0.03%             | 2024-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY &CNTY | San Francisco City & County Airport Comm-San Francisco International Airport    | CUSIP: 79766DMB2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019710.00   | 0.66%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST CMNTY CLG FING A | California Community College Financing Authority                                | CUSIP: 13012TAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1422840.00   | 0.92%             | 2060-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                      | CUSIP: 544445SN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1518324.80   | 0.99%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH SAN FRANCISCO SPL TAX    | City of South San Francisco CA                                                  | CUSIP: 840000AP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $798489.00    | 0.52%             | 2044-09-01      | 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        |     70000 | PA      | $51625.00     | 0.03%             | 2042-07-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PALOMAR HLTH CA                | Palomar Health                                                                  | CUSIP: 697527BE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996530.00    | 0.65%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L | California State Public Works Board                                             | CUSIP: 13068XBQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1579118.05   | 1.03%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CH | California Municipal Finance Authority                                          | CUSIP: 13048DBB3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    850000 | PA      | $785561.50    | 0.51%             | 2045-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                             | CUSIP: 13063DLL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2820000 | PA      | $3344322.60   | 2.17%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT | California Educational Facilities Authority                                     | CUSIP: 130178VU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1840000 | PA      | $2263733.60   | 1.47%             | 2040-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH ED | California Municipal Finance Authority                                          | CUSIP: 13049AAK9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    750000 | PA      | $752175.00    | 0.49%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UZP6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1705050.00   | 1.11%             | 2041-11-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT | California Educational Facilities Authority                                     | CUSIP: 130179SD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1725866.00   | 1.12%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                          | CUSIP: 13048TSX2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    635000 | PA      | $541394.65    | 0.35%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SE | California Municipal Finance Authority                                          | CUSIP: 13049RBR6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    750000 | PA      | $574890.00    | 0.37%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR  | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QA28<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    350000 | PA      | $259000.00    | 0.17%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA | California School Finance Authority                                             | CUSIP: 13059TBD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $579467.75    | 0.38%             | 2034-10-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                             | CUSIP: 13063CEX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018030.00   | 0.66%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                             | CUSIP: 13058TCK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $715579.15    | 0.46%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Voyageur Mutual Funds

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

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