# EDGAR Filing Document

**Accession Number:** 0000906236
**File Stem:** 0000940400-25-005617
**Filing Date:** 2025-10
**Character Count:** 51075
**Document Hash:** 22cacc6d1d0f2f7568ab16d1587b198b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-005617.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0000940400-25-005617

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250829

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VOYAGEUR MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0000906236

**ORGANIZATION NAME:**
- **EIN:** 411720518
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07742
- **FILM NUMBER:** 251429342

**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

### Macquarie Tax-Free Idaho Fund (Series ID: S000002415)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000006418 | Class A             | VIDAX           |
| C000006420 | Class C             | DVICX           |
| C000135927 | Institutional Class | DTIDX           |

## 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:** Macquarie Tax-Free Idaho Fund

- **b. EDGAR series identifier (if any):** S000002415

- **c. LEI of Series:** TT5N8YA3R6HMF1QRFE93

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-29

**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:** $129261114.37

**Total Liabilities:** $2633261.99

**Net Assets:** $126627852.38

**Delayed Delivery Securities:** $2070560.00

**Cash Not Reported:** $656215.32

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 129.58202000 | **1-Year:** 510.69454000 | **5-Year:** 9575.02492000 | **10-Year:** 93419.28440000 | **30-Year:** 17182.43711000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 1133.64798000 | **10-Year:** 2374.03533000 | **30-Year:** 108.92014000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006418 | 0.39%                | -1.10%               | 1.01%                |
| Class ID C000006420 | 0.43%                | -1.16%               | 0.94%                |
| Class ID C000135927 | 0.41%                | -0.98%               | 1.03%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-453976.77              | $615109.76                                 |
| Month 2  | $-60.32                  | $-1769813.65                               |
| Month 3  | $20667.93                | $876618.49                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CANYON CNTY ID SCH DIST #139 V | Canyon County School District No 139 Vallivue                                   | CUSIP: 138824ME4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039260.00   | 0.82%             | 2042-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SALES  | Idaho Housing & Finance Association                                             | CUSIP: 45130ACR4<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    910000 | PA      | $924742.00    | 0.73%             | 2048-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SF MTG | Idaho Housing & Finance Association                                             | CUSIP: 45129YS56<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    400000 | PA      | $307600.00    | 0.24%             | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN        | Idaho Housing & Finance Association                                             | CUSIP: 45129WQH6<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   3060000 | PA      | $2904062.40   | 2.29%             | 2039-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SALES  | Idaho Housing & Finance Association                                             | CUSIP: 45130AAW5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2415000 | PA      | $2450911.05   | 1.94%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST BLDG AUTH SALES TAX R | Idaho State Building Authority                                                  | CUSIP: 451446AK4<br>LEI: 549300XZ1VJYPPKQZU06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1149130.00   | 0.91%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GDE2<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    370000 | PA      | $373744.40    | 0.30%             | 2039-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOISE CITY ID ARPT REVENUE     | City of Boise City ID Airport Revenue                                           | CUSIP: 097428EG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1998100.00   | 1.58%             | 2051-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GCK9<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1144363.50   | 0.90%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOISE CITY ID URBAN RENEWAL AG | Boise Urban Renewal Agency                                                      | CUSIP: 09746LCN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $769192.50    | 0.61%             | 2032-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295E47<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700000.00   | 1.34%             | 2060-03-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN        | Idaho Housing & Finance Association                                             | CUSIP: 45129WPF1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    186599 | PA      | $185841.51    | 0.15%             | 2049-01-21      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QXY3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     45000 | PA      | $29756.25     | 0.02%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ENERGY RESOURCES AUTH PW | Idaho Energy Resources Authority                                                | CUSIP: 451175AQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055750.00   | 0.83%             | 2039-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1176406.20   | 0.93%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QWE8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    175000 | PA      | $116156.25    | 0.09%             | 2036-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GEX9<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    520000 | PA      | $408683.60    | 0.32%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QVC3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    320000 | PA      | $212400.00    | 0.17%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ENERGY RESOURCES AUTH PW | Idaho Energy Resources Authority                                                | CUSIP: 451175AN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $892369.50    | 0.70%             | 2037-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GFM2<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1165000 | PA      | $609621.20    | 0.48%             | 2051-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2755946 | PA      | $1732801.19   | 1.37%             | 2043-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SF MTG | Idaho Housing & Finance Association                                             | CUSIP: 45130BCG6<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1516095.00   | 1.20%             | 2051-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GDG7<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    570000 | PA      | $556382.70    | 0.44%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOISE CITY ID ARPT REVENUE     | City of Boise City ID Airport Revenue                                           | CUSIP: 097428FC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1955000 | PA      | $1601770.60   | 1.26%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST UNIV REVENUES         | Idaho State University                                                          | CUSIP: 451470RP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1625120.00   | 1.28%             | 2052-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEZ PERCE CNTY ID ANNUAL APPRO | County of Nez Perce ID                                                          | CUSIP: 65344YAN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $709065.50    | 0.56%             | 2052-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295D55<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   3300000 | PA      | $2231196.00   | 1.76%             | 2051-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295D48<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   2210000 | PA      | $1862588.00   | 1.47%             | 2051-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GCF0<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    529151 | PA      | $529166.87    | 0.42%             | 2048-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GFL4<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   3150000 | PA      | $2375824.50   | 1.88%             | 2041-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GFT7<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $726280.00    | 0.57%             | 2046-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QVE9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $995625.00    | 0.79%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIV OF IDAHO ID REVENUES      | University of Idaho                                                             | CUSIP: 9143182X7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $346657.20    | 0.27%             | 2041-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GCV5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $1984666.50   | 1.57%             | 2038-12-01      | 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: 74528LAD3<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1375587.50   | 1.09%             | 2046-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH HOSP R | Idaho Health Facilities Authority                                               | CUSIP: 45129UCG7<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   3900000 | PA      | $3508245.00   | 2.77%             | 2043-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOISE ID WTR RENEWAL REVENUE   | City of Boise City ID Water Renewal Revenue                                     | CUSIP: 09747AAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008420.00   | 0.80%             | 2051-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST BLDG AUTH BLDG REVENU | Idaho State Building Authority                                                  | CUSIP: 451443D69<br>LEI: 549300XZ1VJYPPKQZU06 | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1115334.00   | 0.88%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF CMWL | GDB Debt Recovery Authority of Puerto Rico                                      | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3798994 | PA      | $3668232.63   | 2.90%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| IDAHO ST FISH & WILDLIFE FNDTN | Idaho Fish & Wildlife Foundation Inc                                            | CUSIP: 451263CB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1010328.80   | 0.80%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QWX6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     40000 | PA      | $26550.00     | 0.02%             | 2027-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295YZ6<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $828583.80    | 0.65%             | 2047-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAWY ID SOL WST DIST REVENUE  | Idawy Solid Waste District                                                      | CUSIP: 44936TAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $356730.00    | 0.28%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH ANNUAL | Idaho Health Facilities Authority                                               | CUSIP: 451291AN8<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    305000 | PA      | $309083.95    | 0.24%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST BOND BANK AUTH REVENU | Idaho Bond Bank Authority                                                       | CUSIP: 451152V90<br>LEI: 5493006H5207M9WPQJ98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000750.00   | 0.79%             | 2037-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SF MTG | Idaho Housing & Finance Association                                             | CUSIP: 45129Y3T1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1668864.40   | 1.32%             | 2053-07-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BOISE-KUNA ID IRR DIST ARROWRO | Boise-Kuna Irrigation District                                                  | CUSIP: 09747EBX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001600.00   | 1.58%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST BLDG AUTH BLDG REVENU | Idaho State Building Authority                                                  | CUSIP: 451443D51<br>LEI: 549300XZ1VJYPPKQZU06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005840.00   | 0.79%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN MF HSG | Idaho Housing & Finance Association                                             | CUSIP: 45129XBB3<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $967642.00    | 0.76%             | 2040-07-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| IDAHO ENERGY RESOURCES AUTH PW | Idaho Energy Resources Authority                                                | CUSIP: 451175AL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1768976.00   | 1.40%             | 2035-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST UNIV REVENUES         | Idaho State University                                                          | CUSIP: 451470RN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $637325.15    | 0.50%             | 2042-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GJM8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1205340.00   | 0.95%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GCG8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2888155 | PA      | $469989.46    | 0.37%             | 2049-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L4G9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   3175192 | PA      | $1758262.38   | 1.39%             | 2051-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| CANYON CNTY ID SCH DIST #139 V | Canyon County School District No 139 Vallivue                                   | CUSIP: 138824MF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2066580.00   | 1.63%             | 2043-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SALES  | Idaho Housing & Finance Association                                             | CUSIP: 45130ABU8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2050808.40   | 1.62%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SALES  | Idaho Housing & Finance Association                                             | CUSIP: 45130ADQ5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $858880.00    | 0.68%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GFN0<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1217216.60   | 0.96%             | 2056-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GGP4<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $776150.00    | 0.61%             | 2057-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST UNIV REVENUES         | Idaho State University                                                          | CUSIP: 451470RQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $345163.00    | 0.27%             | 2037-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GCP8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $905650.00    | 0.72%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GDR3<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $830630.00    | 0.66%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ENERGY RESOURCES AUTH PW | Idaho Energy Resources Authority                                                | CUSIP: 451175AM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1093420.00   | 0.86%             | 2036-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN MF HSG | Idaho Housing & Finance Association                                             | CUSIP: 45129XBC1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1256720.00   | 0.99%             | 2054-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BOISE ID ST UNIV REVENUES      | Boise State University                                                          | CUSIP: 097464D73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180055.80    | 0.14%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295E39<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    500000 | PA      | $432990.00    | 0.34%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GEF8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $842809.00    | 0.67%             | 2055-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SALES  | Idaho Housing & Finance Association                                             | CUSIP: 45130ABT1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1190445.50   | 0.94%             | 2048-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QVX7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    595000 | PA      | $394931.25    | 0.31%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SF MTG | Idaho Housing & Finance Association                                             | CUSIP: 45129Y6T8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    880000 | PA      | $881284.80    | 0.70%             | 2055-07-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QXP2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     60000 | PA      | $39675.00     | 0.03%             | 2024-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SF MTG | Idaho Housing & Finance Association                                             | CUSIP: 45129Y5J1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2820000 | PA      | $2662051.80   | 2.10%             | 2054-01-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QZY1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     75000 | PA      | $49781.25     | 0.04%             | 2042-07-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295YT0<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1955800.00   | 1.54%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $835073.75    | 0.66%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SALES  | Idaho Housing & Finance Association                                             | CUSIP: 45130ACN3<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2090980.00   | 1.65%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOISE CITY ID INDEP SCH DIST   | Ada & Boise Counties Independent School District Boise City                     | CUSIP: 097437RU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024970.00   | 0.81%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295C80<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1160000 | PA      | $983448.00    | 0.78%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    995000 | PA      | $822357.55    | 0.65%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF IDAHO ID REVENUES      | University of Idaho                                                             | CUSIP: 9143184Q0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $621446.00    | 0.49%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR & WS | Guam Government Waterworks Authority                                            | CUSIP: 40065FED2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $652158.00    | 0.52%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST UNIV REVENUES         | Idaho State University                                                          | CUSIP: 451470PM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $277037.75    | 0.22%             | 2029-04-01      | 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        |   6755000 | PA      | $1576684.55   | 1.25%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GCS2<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1415955.00   | 1.12%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SF MTG | Idaho Housing & Finance Association                                             | CUSIP: 45129YY75<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    965000 | PA      | $941936.50    | 0.74%             | 2048-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN ECON D | Idaho Housing & Finance Association                                             | CUSIP: 45130CAB7<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502340.00   | 1.19%             | 2036-02-01      | Fixed         | 7.00%                 | 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        |   3579000 | PA      | $1131142.95   | 0.89%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GEE1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2367930.00   | 1.87%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOISE CITY ID INDEP SCH DIST   | Ada & Boise Counties Independent School District Boise City                     | CUSIP: 097437RV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $511930.00    | 0.40%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO WTR RESOURCE BRD WTR RES | Idaho Water Resource Board                                                      | CUSIP: 451484AJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3565000 | PA      | $3569278.00   | 2.82%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QVZ2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     50000 | PA      | $33187.50     | 0.03%             | 2026-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GLC7<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014360.00   | 0.80%             | 2058-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BOISE ID ST UNIV REVENUES      | Boise State University                                                          | CUSIP: 097464S85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1333016.25   | 1.05%             | 2054-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST BLDG AUTH SALES TAX R | Idaho State Building Authority                                                  | CUSIP: 451446AV0<br>LEI: 549300XZ1VJYPPKQZU06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1149130.00   | 0.91%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN ECON D | Idaho Housing & Finance Association                                             | CUSIP: 45130CAA9<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    220000 | PA      | $220411.40    | 0.17%             | 2026-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PWR CNTY ID INDL DEV CORP SOL  | Power County Industrial Development Corp                                        | CUSIP: 739247AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007060.00   | 1.59%             | 2032-08-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| IDAHO FALLS ID AUDITORIUM DIST | Idaho Falls Auditorium District                                                 | CUSIP: 45118AAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1799760.00   | 1.42%             | 2051-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295H36<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996640.00    | 0.79%             | 2053-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GDF9<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    595000 | PA      | $587806.45    | 0.46%             | 2049-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KETCHUM ID                     | City of Ketchum ID                                                              | CUSIP: 492638CF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $335805.00    | 0.27%             | 2041-09-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| BOISE CITY ID URBAN RENEWAL AG | Boise Urban Renewal Agency                                                      | CUSIP: 09746LCM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $769762.50    | 0.61%             | 2031-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH HOSP R | Idaho Health Facilities Authority                                               | CUSIP: 45129UCC6<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    750000 | PA      | $736545.00    | 0.58%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST BOND BANK AUTH REVENU | Idaho Bond Bank Authority                                                       | CUSIP: 451152V58<br>LEI: 5493006H5207M9WPQJ98 | Long             | DBT              | MUN               | US        |    250000 | PA      | $252667.50    | 0.20%             | 2033-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295YX1<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $857003.70    | 0.68%             | 2037-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QYY2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    345000 | PA      | $228993.75    | 0.18%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNIV OF IDAHO ID REVENUES      | University of Idaho                                                             | CUSIP: 9143185Q9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2082900.00   | 1.64%             | 2057-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIV OF IDAHO ID REVENUES      | University of Idaho                                                             | CUSIP: 9143183M0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $598707.20    | 0.47%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2426000 | PA      | $2225248.50   | 1.76%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GEY7<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    305000 | PA      | $232611.30    | 0.18%             | 2055-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295YV5<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    435000 | PA      | $436305.00    | 0.34%             | 2027-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L4C8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    270434 | PA      | $175782.18    | 0.14%             | 2051-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                               | CUSIP: 451295D22<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $1935840.00   | 1.53%             | 2051-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST UNIV REVENUES         | Idaho State University                                                          | CUSIP: 451470QX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1144746.00   | 0.90%             | 2049-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| THE CHILDRENS TRUST FUND PR TO | Children's Trust Fund                                                           | CUSIP: 16876QBL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  30905000 | PA      | $1515272.15   | 1.20%             | 2057-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-29

**Name of Applicant:** Voyageur Mutual Funds

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

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