# EDGAR Filing Document

**Accession Number:** 0000763749
**File Stem:** 0001752724-23-069726
**Filing Date:** 2023-3
**Character Count:** 24025
**Document Hash:** 86787f9ed30fbbb52d32b54d9df3e648
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-069726.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-069726

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VOYAGEUR MUTUAL FUNDS III
- **CENTRAL INDEX KEY:** 0000763749
- **IRS NUMBER:** 411777915
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04547
- **FILM NUMBER:** 23767962

**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 III /MN/
- **DATE OF NAME CHANGE:** 20020625

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VOYAGEUR MUTUAL FUNDS III INC /MN/
- **DATE OF NAME CHANGE:** 19940318

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VOYAGEUR GROWTH STOCK FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### DELAWARE SELECT GROWTH FUND (Series ID: S000003946)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000011055 | CLASS A             | DVEAX           |
| C000011057 | CLASS C             | DVECX           |
| C000011058 | CLASS R             | DFSRX           |
| C000011059 | INSTITUTIONAL CLASS | VAGGX           |

## Nport-Ex

Schedule of investments

Delaware Select Growth Fund January 31, 2023 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Number of<br> shares | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Common Stocks — 99.19%♦** | &nbsp;&nbsp;**Common Stocks — 99.19%♦** | &nbsp;&nbsp;**Common Stocks — 99.19%♦** |
| &nbsp;&nbsp;Communication Services — 5.85% | &nbsp;&nbsp;Communication Services — 5.85% | &nbsp;&nbsp;Communication Services — 5.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet Class A † | 22728 | &nbsp;&nbsp;$2246436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electronic Arts | 13954 | &nbsp;&nbsp;&nbsp;&nbsp; 1795601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade Desk Class A † | 129672 | &nbsp;&nbsp;&nbsp;&nbsp; 6574370 |
|  |  | &nbsp;&nbsp;&nbsp; 10616407 |
| &nbsp;&nbsp;Consumer Discretionary — 21.80% | &nbsp;&nbsp;Consumer Discretionary — 21.80% | &nbsp;&nbsp;Consumer Discretionary — 21.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com † | 39751 | &nbsp;&nbsp;&nbsp;&nbsp; 4099521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chewy Class A † | 155734 | &nbsp;&nbsp;&nbsp;&nbsp; 7017374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill † | &nbsp;&nbsp;&nbsp;&nbsp;4330 | &nbsp;&nbsp;&nbsp;&nbsp; 7128826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lululemon Athletica † | 16123 | &nbsp;&nbsp;&nbsp;&nbsp; 4947826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Starbucks | 26510 | &nbsp;&nbsp;&nbsp;&nbsp; 2893301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tesla † | 10344 | &nbsp;&nbsp;&nbsp;&nbsp; 1791788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TopBuild † | 11866 | &nbsp;&nbsp;&nbsp;&nbsp; 2373912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ulta Beauty † | 10915 | &nbsp;&nbsp;&nbsp;&nbsp; 5609873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YETI Holdings † | 82132 | &nbsp;&nbsp;&nbsp;&nbsp; 3676228 |
|  |  | &nbsp;&nbsp;&nbsp; 39538649 |
| &nbsp;&nbsp;Consumer Staples — 1.70% | &nbsp;&nbsp;Consumer Staples — 1.70% | &nbsp;&nbsp;Consumer Staples — 1.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celsius Holdings † | 30692 | &nbsp;&nbsp;&nbsp;&nbsp; 3079021 |
|  |  | &nbsp;&nbsp;&nbsp; 3079021 |
| &nbsp;&nbsp;Healthcare — 24.63% | &nbsp;&nbsp;Healthcare — 24.63% | &nbsp;&nbsp;Healthcare — 24.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dexcom † | 64882 | &nbsp;&nbsp;&nbsp;&nbsp; 6948213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Figs Class A † | 616071 | &nbsp;&nbsp;&nbsp;&nbsp; 5513836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inari Medical † | 131792 | &nbsp;&nbsp;&nbsp;&nbsp; 7518734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inspire Medical Systems † | 44722 | &nbsp;&nbsp;&nbsp;&nbsp; 11317349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pacira BioSciences † | 93040 | &nbsp;&nbsp;&nbsp;&nbsp; 3653681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Progyny † | 282826 | &nbsp;&nbsp;&nbsp;&nbsp; 9726386 |
|  |  | &nbsp;&nbsp;&nbsp; 44678199 |
| &nbsp;&nbsp;Industrials — 9.50% | &nbsp;&nbsp;Industrials — 9.50% | &nbsp;&nbsp;Industrials — 9.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cintas | &nbsp;&nbsp;&nbsp;&nbsp;6128 | &nbsp;&nbsp;&nbsp;&nbsp; 2719239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SiteOne Landscape Supply † | 16679 | &nbsp;&nbsp;&nbsp;&nbsp; 2527035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trex † | 29186 | &nbsp;&nbsp;&nbsp;&nbsp; 1538686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies † | 183082 | &nbsp;&nbsp;&nbsp;&nbsp; 5662726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Rentals † | 10858 | &nbsp;&nbsp;&nbsp;&nbsp; 4787835 |
|  |  | &nbsp;&nbsp;&nbsp; 17235521 |
| &nbsp;&nbsp;Information Technology — 35.71% | &nbsp;&nbsp;Information Technology — 35.71% | &nbsp;&nbsp;Information Technology — 35.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices † | 19180 | &nbsp;&nbsp;&nbsp;&nbsp; 1441377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arista Networks † | 58715 | &nbsp;&nbsp;&nbsp;&nbsp; 7399264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bill.com Holdings † | 31773 | &nbsp;&nbsp;&nbsp;&nbsp; 3673594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cloudflare Class A † | &nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp; 507936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Datadog Class A † | 62596 | &nbsp;&nbsp;&nbsp;&nbsp; 4682807 |

---

NQ-316 [1/23] 03/23 (2778503) 1

------

Schedule of investments

Delaware Select Growth Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Number of<br> shares | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Information Technology (continued) | &nbsp;&nbsp;Information Technology (continued) | &nbsp;&nbsp;Information Technology (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enphase Energy † | 19491 | &nbsp;&nbsp;$4314918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HubSpot † | 12588 | &nbsp;&nbsp;&nbsp;&nbsp; 4368162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuit | &nbsp;&nbsp;&nbsp;&nbsp;4368 | &nbsp;&nbsp;&nbsp;&nbsp; 1846222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marvell Technology | 71604 | &nbsp;&nbsp;&nbsp;&nbsp; 3089713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 22633 | &nbsp;&nbsp;&nbsp;&nbsp; 5608684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | &nbsp;&nbsp;&nbsp;&nbsp;9282 | &nbsp;&nbsp;&nbsp;&nbsp; 1813424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palo Alto Networks † | 21858 | &nbsp;&nbsp;&nbsp;&nbsp; 3467553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ServiceNow † | 10668 | &nbsp;&nbsp;&nbsp;&nbsp; 4855327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shift4 Payments Class A † | 162546 | &nbsp;&nbsp;&nbsp;&nbsp; 10409446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snowflake Class A † | 23310 | &nbsp;&nbsp;&nbsp;&nbsp; 3646616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VeriSign † | 14473 | &nbsp;&nbsp;&nbsp;&nbsp; 3155838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa Class A | &nbsp;&nbsp;&nbsp;&nbsp;2216 | &nbsp;&nbsp;&nbsp;&nbsp; 510145 |
|  |  | &nbsp;&nbsp;&nbsp; 64791026 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks (cost $196,981,089)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks (cost $196,981,089)** | &nbsp;&nbsp;&nbsp;**179938823** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.19%<br> (cost $196,981,089)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**179938823** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—0.81%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **1475566** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 9,285,534 Shares Outstanding—100.00%** |  | &nbsp;&nbsp;**$181414389** |

---

♦ Narrow industries are utilized for compliance purposes for concentration whereas broad sectors are used for financial reporting. <br> <sup>†</sup> Non-income producing security.

2 NQ-316 [1/23] 03/23 (2778503)

## 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 III

- **b. Investment Company Act file number:** 811-04547

- **c. CIK number of Registrant:** 0000763749

- **d. LEI of Registrant:** 549300VCXECUKWGSGR75

- **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 Select Growth Fund

- **b. EDGAR series identifier (if any):** S000003946

- **c. LEI of Series:** 5493007SBPDGDT1FWU76

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $181939480.29

**Total Liabilities:** $420057.24

**Net Assets:** $181519423.05

**Cash Not Reported:** $1887175.50

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000011059 | 1.25%                | -8.98%               | 8.98%                |
| Class ID C000011058 | 1.24%                | -9.05%               | 8.92%                |
| Class ID C000011055 | 1.23%                | -8.98%               | 8.91%                |
| Class ID C000011057 | 1.28%                | -9.13%               | 8.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-8862767.69             | $11595423.06                               |
| Month 2  | $-5086795.88             | $-12321025.95                              |
| Month 3  | $-8789562.19             | $24168100.86                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Arista Networks Inc          | Arista Networks Inc          | CUSIP: 040413106<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     58715 | NS      | $7399264.30   | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc         | Celsius Holdings Inc         | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30692 | NS      | $3079021.44   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                  | Datadog Inc                  | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |     62596 | NS      | $4682806.76   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Figs Inc                     | Figs Inc                     | CUSIP: 30260D103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    616071 | NS      | $5513835.45   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc       | Marvell Technology Inc       | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71604 | NS      | $3089712.60   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Bill.com Holdings Inc        | Bill.com Holdings Inc        | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |     31773 | NS      | $3673594.26   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc           | Enphase Energy Inc           | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |     19491 | NS      | $4314917.58   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Inari Medical Inc            | Inari Medical Inc            | CUSIP: 45332Y109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    131792 | NS      | $7518733.60   | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc  | Inspire Medical Systems Inc  | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |     44722 | NS      | $11317349.32  | 6.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare Inc               | Cloudflare Inc               | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      9600 | NS      | $507936.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| VeriSign Inc                 | VeriSign Inc                 | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |     14473 | NS      | $3155837.65   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc          | Shift4 Payments Inc          | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    162546 | NS      | $10409445.84  | 5.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp               | Starbucks Corp               | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     26510 | NS      | $2893301.40   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                  | NVIDIA Corp                  | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      9282 | NS      | $1813424.34   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Trade Desk Inc/The           | Trade Desk Inc/The           | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |    129672 | NS      | $6574370.40   | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc       | Palo Alto Networks Inc       | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     21858 | NS      | $3467553.12   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                   | Dexcom Inc                   | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     64882 | NS      | $6948213.38   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Chewy Inc                    | Chewy Inc                    | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |    155734 | NS      | $7017374.04   | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc   | Chipotle Mexican Grill Inc   | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4330 | NS      | $7128825.40   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                     | Visa Inc                     | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2216 | NS      | $510145.36    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc          | Electronic Arts Inc          | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     13954 | NS      | $1795600.72   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                    | Tesla Inc                    | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     10344 | NS      | $1791787.68   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp               | Microsoft Corp               | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     22633 | NS      | $5608683.73   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                | TopBuild Corp                | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |     11866 | NS      | $2373911.96   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                  | Trex Co Inc                  | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29186 | NS      | $1538685.92   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                  | Progyny Inc                  | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    282826 | NS      | $9726386.14   | 5.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc              | Ulta Beauty Inc              | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |     10915 | NS      | $5609873.40   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc               | ServiceNow Inc               | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     10668 | NS      | $4855326.84   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc           | United Rentals Inc           | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |     10858 | NS      | $4787835.10   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                  | Cintas Corp                  | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6128 | NS      | $2719238.72   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc | SiteOne Landscape Supply Inc | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |     16679 | NS      | $2527035.29   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot Inc                  | HubSpot Inc                  | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |     12588 | NS      | $4368161.88   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc   | Advanced Micro Devices Inc   | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     19180 | NS      | $1441377.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc      | Lululemon Athletica Inc      | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | CA        |     16123 | NS      | $4947826.24   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc        | Uber Technologies Inc        | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    183082 | NS      | $5662726.26   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                   | Intuit Inc                   | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      4368 | NS      | $1846222.56   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences Inc       | Pacira BioSciences Inc       | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93040 | NS      | $3653680.80   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                 | Alphabet Inc                 | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     22728 | NS      | $2246435.52   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                | Snowflake Inc                | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |     23310 | NS      | $3646616.40   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc               | Amazon.com Inc               | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     39751 | NS      | $4099520.63   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI Holdings Inc            | YETI Holdings Inc            | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     82132 | NS      | $3676228.32   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-22

**Name of Applicant:** Voyageur Mutual Funds III

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

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