UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
FORM N-Q
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number: 811-22050
 
Exact name of registrant as specified in charter: Delaware Enhanced Global Dividend
and Income Fund
 
Address of principal executive offices: 2005 Market Street
Philadelphia, PA 19103
 
Name and address of agent for service: David F. Connor, Esq.
2005 Market Street
Philadelphia, PA 19103
 
Registrant’s telephone number, including area code: (800) 523-1918
 
Date of fiscal year end: November 30
 
Date of reporting period: August 31, 2014



Item 1. Schedule of Investments.

Schedule of investments

Delaware Enhanced Global Dividend and Income Fund
August 31, 2014 (Unaudited)

Number of Value
            shares       (U.S. $)
Common Stock – 70.23%v
Consumer Discretionary – 7.38%
AMC Entertainment Holdings 7,023 $ 166,234
Bayerische Motoren Werke * 7,791 907,031
DIRECTV Class A † 2,250 194,513
Don Quijote Holdings 14,000 741,339
General Motors 2,496 86,861
Genuine Parts 9,600 842,304
Hanesbrands 1,210 124,243
Kering * 6,736 1,427,240
Mattel 23,600 813,964
Nitori Holdings 40,008 2,399,211
Publicis Groupe * 21,506 1,602,279
Sumitomo Rubber Industries 100,400 1,433,803
Techtronic Industries 394,500 1,203,854
Toyota Motor 48,505 2,763,324
Yue Yuen Industrial Holdings 567,500 1,761,069
16,467,269
Consumer Staples – 6.41%
Archer-Daniels-Midland 13,300 663,138
Aryzta † 33,479 3,057,634
Carlsberg Class B 20,181 1,840,348
Coca-Cola Amatil 159,492 1,340,187
ConAgra Foods 41,400 1,333,080
Kimberly-Clark 11,500 1,242,000
Kraft Foods Group 21,200 1,248,680
Lorillard 20,000 1,194,000
Safeway 30,500 1,060,790
Tesco 349,044 1,332,280
14,312,137
Diversified REITs – 1.00%
Champion REIT 125,000 57,096
Dexus Property Group 39,910 44,901
Fibra Uno Administracion † 87,563 315,358
Investors Real Estate Trust 10,260 87,518
Kenedix Office Investment 50 276,777
Lexington Realty Trust 52,975 576,368
Mapletree Logistics Trust 70,996 66,787
Nieuwe Steen Investments 89 506
Orix JREIT 40 53,549
Stockland 70,059 277,995
Vornado Realty Trust 2,641 279,603
Washington Real Estate
     Investment Trust 7,272 202,016
2,238,474
Energy – 6.52%
Chevron 6,500 841,425
CNOOC 1,065,000 2,140,980
ConocoPhillips 9,900 804,078
Halcon Resources † 1,107 6,089
Kodiak Oil & Gas † 9,844 160,162
Marathon Oil 15,900 662,871
Occidental Petroleum 6,300 653,499
Range Resources 1,214 95,408
Royal Dutch Shell ADR * 14,700 1,247,295
Saipem *† 73,634 1,747,397
Spectra Energy 20,200 841,532
Subsea 7 * 101,377 1,686,237
Total 26,860 1,771,408
Total ADR * 18,900 1,246,644
Williams 11,100 659,784
14,564,809
Financials – 9.36%
AXA * 131,530 3,257,853
Bank Rakyat Indonesia
     Persero 1,310,300 1,238,564
BB&T 34,100 1,272,953
Fifth Street Finance 16,638 163,552
Gallagher (Arthur J.) 27,500 1,298,825
Home Loan Servicing
     Solutions 32,995 722,591
ING Groep CVA † 139,522 1,918,568
Mitsubishi UFJ Financial
     Group 524,128 3,013,150
Nordea Bank 197,820 2,578,077
Nordea Bank FDR 46,830 610,116
Santander Consumer USA
     Holdings 6,915 128,757
Solar Capital 8,309 166,180
Standard Chartered 134,689 2,711,907
UniCredit 236,226 1,828,262
20,909,355
Healthcare – 9.16%
AbbVie 15,700 867,896
Akorn *† 2,269 88,536
AstraZeneca ADR 11,300 858,913
Baxter International 12,600 944,748
Bristol-Myers Squibb 13,300 673,645
Johnson & Johnson 10,100 1,047,673
Merck 25,300 1,520,783
Novartis 39,343 3,528,914
Pfizer 49,160 1,444,812
Quest Diagnostics 10,700 676,347
Sanofi * 31,150 3,417,747

(continues)          NQ-DEX [8/14] 11/14 (13309) 1



Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

Number of Value
            shares       (U.S. $)
Common Stockv (continued)
Healthcare (continued)
Stada Arzneimittel * 36,417 $ 1,453,263
Teva Pharmaceutical
     Industries ADR 73,500 3,860,220
Valeant Pharmaceuticals
     International † 611 71,670
20,455,167
Healthcare REITs – 0.32%
HCP 3,404 147,495
Health Care REIT 1,875 126,713
Sabra Health Care REIT 3,298 93,927
Ventas 5,342 351,397
719,532
Hotel REITs – 0.70%
Ashford Hospitality Prime 12,360 200,108
Ashford Hospitality Trust 61,800 716,262
DiamondRock Hospitality 20,217 269,290
LaSalle Hotel Properties 1,200 43,860
Strategic Hotels & Resorts † 19,000 225,720
Summit Hotel Properties 9,300 101,835
1,557,075
Industrial REITs – 1.41%
DCT Industrial Trust 16,877 134,172
First Industrial Realty Trust 63,827 1,161,651
Goodman Group 49,447 257,607
Prologis 385 15,762
Prologis Property Mexico † 294,100 655,397
STAG Industrial 35,063 821,526
Terreno Realty 5,097 103,163
3,149,278
Industrials – 7.70%
Deutsche Post * 67,614 2,210,903
East Japan Railway 26,461 2,055,492
ITOCHU 201,602 2,562,286
Koninklijke Philips Electronics 69,303 2,111,777
Meggitt 112,844 883,353
Raytheon 13,300 1,281,322
Vinci 34,974 2,286,303
Waste Management 28,800 1,352,736
WestJet Airlines @ 90,943 2,459,049
17,203,221
Information Technology – 6.37%
Applied Materials 47,000 1,085,935
Canon ADR 25,400 829,818
CGI Group Class A † 110,740 3,919,135
Cisco Systems 41,100 1,027,089
Intel 43,700 1,526,004
Microsoft 21,300 967,659
Symantec 45,500 1,104,740
Teleperformance 40,486 2,627,479
Xerox 82,000 1,132,420
14,220,279
Mall REITs – 0.82%
CBL & Associates Properties 7,338 139,422
General Growth Properties 12,497 307,051
Macerich 389 25,398
Pennsylvania Real Estate
     Investment Trust 8,500 171,360
Rouse Properties 748 13,075
Simon Property Group 6,908 1,174,567
1,830,873
Manufactured Housing REITs – 0.22%
Equity Lifestyle Properties 3,156 144,198
Sun Communities 6,586 353,207
497,405
Materials – 3.79%
AuRico Gold 154,173 701,882
Dow Chemical 14,400 771,120
duPont (E.I.) deNemours 11,400 753,654
Lafarge * 22,436 1,718,737
Rexam 208,677 1,756,162
Rio Tinto 31,585 1,684,772
Tarkett * 6,400 197,626
Yamana Gold 103,366 880,317
8,464,270
Mixed REITs – 0.14%
Duke Realty 11,447 212,914
DuPont Fabros Technology 2,500 70,400
PS Business Parks 400 32,616
315,930
Mortgage REITs – 0.25%
Chimera Investment 17,000 56,270
Starwood Property Trust 20,900 498,465
554,735
Multifamily REITs – 0.49%
Apartment Investment &
     Management 15,728 538,999
Camden Property Trust 5,109 382,358
Equity Residential 1,597 106,153

2 NQ-DEX [8/14] 11/14 (13309)



(Unaudited)

Number of Value
            shares       (U.S. $)
Common Stockv (continued)
Multifamily REITs (continued)
Essex Property Trust 297 $ 57,455
1,084,965
Office REITs – 0.94%
alstria office REIT *† 33,657 449,992
American Realty Capital
     Properties 24,509 322,538
Corporate Office Properties
     Trust 11,690 331,762
Equity Commonwealth 5,087 136,739
Link REIT 33,000 195,870
Mack-Cali Realty 11,500 243,110
Parkway Properties 20,673 428,965
2,108,976
Office/Diversified REIT – 0.06%
Corio * 2,685 144,246
144,246
Self-Storage REIT – 0.13%
Extra Space Storage 5,300 279,310
279,310
Shopping Center REITs – 1.00%
Agree Realty 12,473 368,328
Charter Hall Retail REIT 71,117 263,602
Equity One 1,500 35,400
First Capital Realty 2,922 51,920
Kimco Realty 12,857 302,011
Kite Realty Group Trust 5,922 152,314
Ramco-Gershenson Properties
     Trust 19,634 332,993
Regency Centers 900 51,426
Scentre Group † 40,548 129,852
Unibail-Rodamco 910 244,409
Westfield † 16,989 120,867
Wheeler Real Estate
     Investment Trust *@ 36,463 183,409
2,236,531
Single Tenant REITs – 0.19%
National Retail Properties 5,420 201,299
Spirit Realty Capital 18,362 216,855
418,154
Specialty REITs – 0.77%
EPR Properties 11,976 681,554
Gladstone Land 18,590 229,772
Nippon Prologis REIT 250 606,891
Plum Creek Timber 1,520 61,758
Rayonier 450 15,421
Starwood Waypoint
     Residential Trust † 4,180 115,702
1,711,098
Telecommunications – 3.78%
AT&T 41,900 1,464,824
Century Communications =† 125,000 0
Mobile Telesystems ADR 102,500 1,891,125
Nippon Telegraph &
     Telephone 53,701 3,602,258
NTT DOCOMO ADR 37,000 639,360
Verizon Communications 16,800 836,976
8,434,543
Utilities – 1.32%
American Water Works 800 40,488
Edison International 11,500 680,110
National Grid 79,031 1,179,340
National Grid ADR 11,400 852,036
NorthWestern * 3,800 183,464
2,935,438
 
Total Common Stock
(cost $128,890,590) 156,813,070
 
Convertible Preferred Stock – 3.71%
ArcelorMittal 6.00% exercise
     price $20.36, expiration
     date 12/21/15 24,100 546,769
Chesapeake Energy 144A
     5.75% exercise price
     $26.14, expiration date
     12/31/49 # 392 472,360
El Paso Energy Capital Trust I
     4.75% exercise price
     $34.49, expiration date
     3/31/28 1,950 115,109
Exelon 6.50% exercise price
     $43.75, expiration date
     6/1/17 16,650 840,825
Halcon Resources 5.75%
     exercise price $6.16,
     expiration date 12/31/49 397 398,191
HealthSouth 6.50% exercise
     price $30.01, expiration
     date 12/31/49 756 1,046,304
Huntington Bancshares
     8.50% exercise price
     $11.95, expiration date
     12/31/49 510 688,500

(continues)          NQ-DEX [8/14] 11/14 (13309) 3



Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

Number of Value
            shares       (U.S. $)
Convertible Preferred Stock (continued)
Intelsat 5.75% exercise price
     $22.05, expiration date
     5/1/16   19,584   $ 939,053
Laclede Group 6.75%
     exercise price $57.81,
     expiration date 4/1/17 4,379 241,589
Maiden Holdings 7.25%
     exercise price $15.47,
     expiration date 9/15/16 * 19,850 933,744
SandRidge Energy
     7.00% exercise price
     $7.76, expiration date
     12/31/49 2,500 241,875
     8.50% exercise price
     $8.01, expiration date
     12/31/49 4,205 422,077
Wells Fargo 7.50% exercise
     price $156.71, expiration
     date 12/31/49 695 845,099
Weyerhaeuser 6.375%
     exercise price $33.20,
     expiration date 7/1/16 5,289 305,493
Wheeler Real Estate
     Investment Trust
     9.00% exercise price
     $5.00, expiration date
     12/31/49 8,250 209,138
     9.00% exercise price
     $5.00, expiration date
     12/31/49 @= 34 35,557
Total Convertible Preferred
Stock (cost $7,923,759) 8,281,683
 
Exchange-Traded Fund – 0.08%
iPATH S&P 500 VIX
     Short-Term Futures ETN *† 6,250 175,687
Total Exchange-Traded Fund
(cost $1,178,000) 175,687
 
Principal
amount°
Agency Collateralized Mortgage Obligations – 0.05%
Fannie Mae REMICs
     Series 2001-50 BA
     7.00% 10/25/41 73,879 84,499
Freddie Mac REMICs
     Series 2557 WE
     5.00% 1/15/18 23,339 24,555
Total Agency Collateralized
Mortgage Obligations
(cost $98,657) 109,054
 
Agency Mortgage-Backed Securities – 0.41%
Fannie Mae ARM
     2.119% 3/1/38 8,340 8,892
     2.238% 4/1/36 20,791 22,415
     2.247% 10/1/36 5,720 6,143
     2.305% 4/1/36 7,637 8,140
     2.374% 11/1/35 5,144 5,518
     2.415% 5/1/43 4,516 4,514
     2.423% 10/1/36 8,753 9,309
     2.546% 6/1/43 1,996 2,008
     3.296% 9/1/43 5,641 5,833
Fannie Mae S.F. 15 yr
     4.00% 11/1/25 87,646 93,782
     5.50% 1/1/23 12,436 13,610
Fannie Mae S.F. 20 yr
     4.00% 2/1/31 3,493 3,754
     5.50% 12/1/29 873 973
Fannie Mae S.F. 30 yr
     4.00% 11/1/40 1,788 1,897
     4.50% 7/1/36 1,533 1,656
     6.50% 6/1/36 10,635 12,013
     6.50% 10/1/36 8,145 9,216
Freddie Mac ARM
     2.249% 7/1/36 5,531 5,930
     2.265% 10/1/36 9,504 10,131
Freddie Mac S.F. 15 yr
     4.00% 5/1/25 776 829
     5.00% 6/1/18 4,326 4,568
     5.00% 12/1/22 22,240 23,991
Freddie Mac S.F. 30 yr
     5.00% 1/1/34 238,670 263,610
     6.00% 2/1/36 1,123 1,275
     7.00% 11/1/33 21,236 24,772
     9.00% 9/1/30 37,988 41,341
GNMA I S.F. 30 yr
     7.50% 12/15/23 46,930 54,551
     7.50% 1/15/32 39,008 47,038
     9.50% 9/15/17 26,426 27,917
     12.00% 5/15/15 1,767 1,783
GNMA II S.F. 30 yr
     6.00% 11/20/28 43,729 49,328

4 NQ-DEX [8/14] 11/14 (13309)



(Unaudited)

Principal Value
            amount°       (U.S. $)
Agency Mortgage-Backed Securities (continued)
GNMA II S.F. 30 yr
     6.50% 2/20/30 133,456 $ 148,274
Total Agency
Mortgage-Backed
Securities (cost $834,105) 915,011
 
Commercial Mortgage-Backed Securities – 0.06%
FREMF Mortgage Trust
     Series 2013-K712 B 144A
     3.484% 5/25/45 # 20,000 20,252
Goldman Sachs Mortgage
     Securities II
     Series 2005-GG4 A4A
     4.751% 7/10/39 28,117 28,426
Goldman Sachs Mortgage
     Securities Trust
     Series 2006-GG6 A4
     5.553% 4/10/38 10,000 10,448
JPMBB Commercial Mortgage
     Securities Trust
     Series 2014-C21 AS
     3.997% 8/15/47 10,000 10,326
     Series 2014-C22 A4
     3.801% 9/15/47 10,000 10,378
     Series 2014-C22 B
     4.714% 9/15/47 10,000 10,384
JPMorgan Chase Commercial
     Mortgage Securities Trust
     Series 2006-LDP8 AM
     5.44% 5/15/45 35,000 37,633
LB-UBS Commercial
     Mortgage Trust
     Series 2006-C6 AM
     5.413% 9/15/39 10,000 10,775
Total Commercial
Mortgage-Backed
Securities (cost $136,336) 138,622
 
Convertible Bonds – 11.74%
Basic Industry – 0.13%
Peabody Energy 4.75%
     exercise price $57.62,
     expiration date 12/15/41 * 391,000 282,986
282,986
Capital Goods – 0.59%
General Cable 4.50% exercise
     price $35.33, expiration
     date 11/15/29 ϕ 673,000 600,232
Titan Machinery 3.75%
     exercise price $43.17,
     expiration date 4/30/19 * 897,000 701,903
1,302,135
Communications – 1.73%
Alaska Communications
     Systems Group 6.25%
     exercise price $10.28,
     expiration date 4/27/18 672,000 547,680
Blucora 144A 4.25% exercise
     price $21.66, expiration
     date 3/29/19 # 416,000 420,940
Clearwire Communications
     144A 8.25% exercise price
     $7.08, expiration date
     11/30/40 # 562,000 640,680
Equinix 4.75% exercise price
     $84.32, expiration date
     6/13/16 41,000 108,317
Liberty Interactive
     0.75% exercise price
     $1,000.00, expiration date
     3/30/43 544,000 740,180
     144A 1.00% exercise price
     $74.31, expiration date
     9/28/43 # 975,000 1,010,344
SBA Communications 4.00%
     exercise price $30.38,
     expiration date 9/29/14 109,000 394,716
3,862,857
Consumer Cyclical – 1.24%
Iconix Brand Group 2.50%
     exercise price $30.75,
     expiration date 5/31/16 436,000 613,943
Live Nation Entertainment
     144A 2.50% exercise price
     $34.68, expiration date
     5/13/19 # 117,000 117,877
     2.875% exercise price
     $27.14, expiration date
     9/29/14 807,000 806,496
Meritor 4.00% exercise price
     $26.73, expiration date
     2/12/27 ϕ 1,149,000 1,235,175
2,773,491
Consumer Non-Cyclical – 2.21%
Alere 3.00% exercise price
     $43.98, expiration date
     5/15/16 * 226,000 238,430

(continues)          NQ-DEX [8/14] 11/14 (13309) 5



Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

Principal Value
            amount°       (U.S. $)
Convertible Bonds (continued)
Consumer Non-Cyclical (continued)
BioMarin Pharmaceutical
     1.50% exercise price
     $94.15, expiration date
     10/13/20 * 343,000 $ 382,659
Hologic
     2.00% exercise price
     $31.17, expiration date
     2/27/42 *ϕ 597,000 642,521
     2.00% exercise price
     $38.59, expiration date
     12/15/43 607,000 666,183
NuVasive 2.75% exercise
     price $42.13, expiration
     date 6/30/17 1,077,000 1,219,029
Salix Pharmaceuticals 1.50%
     exercise price $65.81,
     expiration date 3/15/19 93,000 228,489
Spectrum Pharmaceuticals
     144A 2.75% exercise price
     $10.53, expiration date
     12/13/18 # 443,000 462,381
Vector Group
     1.75% exercise price
     $27.16, expiration date
     4/15/20 634,000 716,024
     2.50% exercise price
     $17.62, expiration date
     1/14/19 263,000 383,628
4,939,344
Energy – 1.03%
Chesapeake Energy 2.50%
     exercise price $47.77,
     expiration date 5/15/37 349,000 363,178
Energy XXI Bermuda 144A
     3.00% exercise price
     $40.40, expiration date
     12/13/18 # 980,000 884,450
Helix Energy Solutions Group
     3.25% exercise price
     $25.02, expiration date
     3/12/32 378,000 513,135
Vantage Drilling 144A 5.50%
     exercise price $2.39,
     expiration date 7/15/43 # 509,000 543,358
2,304,121
Financials – 1.03%
Ares Capital 5.75% exercise
     price $19.13, expiration
     date 2/1/16 588,000 624,015
BGC Partners 4.50% exercise
     price $9.84, expiration
     date 7/13/16 791,000 838,954
Gain Capital Holdings 144A
     4.125% exercise price
     $12.00, expiration date
     11/30/18 # 551,000 507,264
New Mountain Finance 144A
     5.00% exercise price
     $15.93, expiration date
     6/14/19 # 322,000 332,666
2,302,899
Real Estate Investment Trusts – 1.30%
Blackstone Mortgage Trust
     5.25% exercise price
     $28.66, expiration date
     12/1/18 970,000 1,041,537
Campus Crest Communities
     Operating Partnership
     144A 4.75% exercise price
     $12.56, expiration date
     10/11/18 # 663,000 655,127
Forest City Enterprises
     3.625% exercise price
     $24.21, expiration date
     8/14/20 591,000 629,784
Lexington Realty Trust 144A
     6.00% exercise price
     $6.68, expiration date
     1/11/30 # 363,000 583,296
2,909,744
Technology – 2.48%
Cardtronics 144A 1.00%
     exercise price $52.35,
     expiration date
     11/27/20 #* 1,096,000 1,051,480
Ciena 144A 3.75% exercise
     price $20.17, expiration
     date 10/15/18 # 535,000 697,506
Intel 3.25% exercise price
     $21.71, expiration date
     8/1/39 401,000 678,444
j2 Global 3.25% exercise
     price $69.37, expiration
     date 6/14/29 789,000 819,574
Nuance Communications
     2.75% exercise price
     $32.30, expiration date
     11/1/31 712,000 712,890

6 NQ-DEX [8/14] 11/14 (13309)



(Unaudited)

Principal Value
      amount°       (U.S. $)
Convertible Bonds (continued)
Technology (continued)
SanDisk 1.50% exercise price
     $51.53, expiration date
     8/11/17 433,000 $ 835,690
VeriSign 3.25% exercise price
     $34.37, expiration date
     8/15/37 424,000 734,580
5,530,164
Total Convertible Bonds
(cost $23,646,434) 26,207,741
 
Corporate Bonds – 41.62%
Automotives – 1.00%
American Axle &
     Manufacturing
     7.75% 11/15/19 55,000 62,837
Chassix 144A
     9.25% 8/1/18 # 210,000 218,400
General Motors
     4.875% 10/2/23 190,000 204,250
     6.25% 10/2/43 235,000 276,713
General Motors Financial
     6.75% 6/1/18 365,000 411,081
International Automotive
     Components Group 144A
     9.125% 6/1/18 # 450,000 481,500
Meritor
     6.25% 2/15/24 135,000 139,387
     6.75% 6/15/21 225,000 239,063
Tupy Overseas 144A
     6.625% 7/17/24 # 200,000 208,100
2,241,331
Banking – 4.14%
Australia & New Zealand
     Banking Group
     5.448% 6/20/22 AUD 1,799,000 1,761,703
Banco Santander Mexico
     144A 5.95% 1/30/24 #* 200,000 213,000
Bank of America
     4.00% 4/1/24 10,000 10,321
     4.055% 8/23/18 AUD 1,100,000 1,046,870
     4.20% 8/26/24 25,000 25,408
Barclays Bank
     7.625% 11/21/22 * 375,000 421,875
Citigroup 4.00% 8/5/24 10,000 10,041
City National
     5.25% 9/15/20 * 5,000 5,624
Credit Suisse Group 144A
     7.50% 12/29/49 #* 400,000 435,000
Fifth Third Bancorp
     4.30% 1/16/24 5,000 5,266
Goldman Sachs Group
     3.925% 8/21/19 AUD     1,190,000 1,129,477
     4.325% 8/8/18 AUD 1,280,000 1,231,170
HSBC Holdings
     4.00% 3/30/22 20,000 21,458
JPMorgan Chase
     3.685% 5/17/18 AUD 1,100,000 1,038,258
     4.85% 2/1/44 20,000 21,956
     6.75% 1/29/49 440,000 474,650
Lloyds Banking Group 7.50%
     4/30/49 * 680,000 714,850
Morgan Stanley
     2.375% 7/23/19 5,000 4,999
     5.00% 11/24/25 30,000 32,254
Northern Trust
     3.95% 10/30/25 30,000 31,464
PNC Funding 5.625% 2/1/17 35,000 38,347
Popular 7.00% 7/1/19 390,000 393,900
Santander Holdings USA
     4.625% 4/19/16 10,000 10,582
State Street 3.10% 5/15/23 10,000 9,894
SunTrust Bank
     2.35% 11/1/18 10,000 10,118
SVB Financial Group
     5.375% 9/15/20 25,000 28,292
USB Capital IX
     3.50% 10/29/49 80,000 68,000
Wells Fargo
     4.10% 6/3/26 15,000 15,365
     5.90% 12/29/49 15,000 15,750
Zions Bancorp
     4.50% 3/27/17 5,000 5,304
     4.50% 6/13/23 10,000 10,487
     7.75% 9/23/14 5,000 5,018
9,246,701
Basic Industry – 4.12%
AK Steel 7.625% 5/15/20 * 421,000 437,314
ArcelorMittal
     6.125% 6/1/18 460,000 501,975
     10.35% 6/1/19 15,000 18,956
Arch Coal 144A
     8.00% 1/15/19 #* 365,000 353,137
Builders FirstSource 144A
     7.625% 6/1/21 # 405,000 424,237
Celanese US Holdings
     4.625% 11/15/22 5,000 5,113

(continues)          NQ-DEX [8/14] 11/14 (13309) 7



Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

Principal Value
            amount°       (U.S. $)
Corporate Bonds (continued)
Basic Industry (continued)
Cemex 144A
     7.25% 1/15/21 # 480,000 $ 528,600
CF Industries
     5.15% 3/15/34 5,000 5,469
     6.875% 5/1/18 25,000 29,260
CPG Merger Sub 144A
     8.00% 10/1/21 #* 380,000 399,950
Dow Chemical
     8.55% 5/15/19 34,000 43,359
Eastman Chemical
     4.65% 10/15/44 25,000 25,432
Essar Steel Minnesota 144A
     11.50% 5/15/20 # 115,000 118,306
First Quantum Minerals
     144A 6.75% 2/15/20 # 172,000 179,310
     144A 7.00% 2/15/21 # 172,000 181,460
     144A 7.25% 5/15/22 # 200,000 211,500
FMG Resources August 2006
     144A 6.875% 4/1/22 #* 650,000 710,531
Georgia-Pacific
     8.00% 1/15/24 20,000 27,305
Hardwoods Acquisition 144A
     7.50% 8/1/21 # 280,000 285,600
HD Supply 11.50% 7/15/20 345,000 406,669
INEOS Group Holdings 144A
     5.875% 2/15/19 # 310,000 318,525
International Paper
     6.00% 11/15/41 10,000 12,064
JMC Steel Group 144A
     8.25% 3/15/18 # 300,000 304,875
Kissner Milling 144A
     7.25% 6/1/19 # 320,000 330,800
LSB Industries 7.75% 8/1/19 295,000 323,763
Masonite International 144A
     8.25% 4/15/21 # 425,000 463,250
Monsanto 4.40% 7/15/44 35,000 36,517
Mosaic 5.625% 11/15/43 20,000 23,180
New Gold 144A
     6.25% 11/15/22 # 380,000 400,900
Nortek 8.50% 4/15/21 265,000 289,513
Polymer Group 144A
     6.875% 6/1/19 # 385,000 390,775
Rio Tinto Finance USA
     3.50% 11/2/20 5,000 5,264
Rock-Tenn
     3.50% 3/1/20 10,000 10,355
     4.00% 3/1/23 5,000 5,167
Rockwood Specialties Group
     4.625% 10/15/20 5,000 5,219
Ryerson
     9.00% 10/15/17 245,000 261,537
     11.25% 10/15/18 105,000 117,075
Sappi Papier Holding 144A
     6.625% 4/15/21 # 200,000 211,000
TPC Group 144A
     8.75% 12/15/20 # 425,000 470,687
Weyerhaeuser
     4.625% 9/15/23 10,000 10,905
Wise Metals Group 144A
     8.75% 12/15/18 # 170,000 184,450
Wise Metals Intermediate
     Holdings 144A
     9.75% 6/15/19 # 115,000 122,044
Yamana Gold 144A
     4.95% 7/15/24 # 5,000 5,121
9,196,469
Brokerage – 0.03%
Jefferies Group
     5.125% 1/20/23 10,000 10,853
     6.45% 6/8/27 5,000 5,695
     6.50% 1/20/43 5,000 5,610
Lazard Group
     6.85% 6/15/17 34,000 38,583
60,741
Capital Goods – 2.85%
Accudyne Industries 144A
     7.75% 12/15/20 # 215,000 231,125
Ardagh Packaging Finance
     144A 6.00% 6/30/21 # 400,000 397,000
B/E Aerospace 5.25% 4/1/22 190,000 206,625
BWAY Holding 144A
     9.125% 8/15/21 # 705,000 726,150
Caterpillar 3.40% 5/15/24 30,000 30,683
Consolidated Container 144A
     10.125% 7/15/20 # 385,000 385,000
Crane 4.45% 12/15/23 10,000 10,674
Gardner Denver 144A
     6.875% 8/15/21 #* 190,000 201,875
Gates Global 144A
     6.00% 7/15/22 # 695,000 691,525
Ingersoll-Rand Global Holding
     4.25% 6/15/23 15,000 16,025
Milacron 144A
     7.75% 2/15/21 # 375,000 405,937
Plastipak Holdings 144A
     6.50% 10/1/21 # 300,000 315,000
Reynolds Group Issuer
     8.25% 2/15/21 * 310,000 339,837

8 NQ-DEX [8/14] 11/14 (13309)



(Unaudited)

Principal Value
            amount°       (U.S. $)
Corporate Bonds (continued)
Capital Goods (continued)
Signode Industrial Group
     144A 6.375% 5/1/22 # 360,000 $ 359,100
TransDigm
     144A 6.00% 7/15/22 # 450,000 458,437
     144A 6.50% 7/15/24 # 370,000 379,713
Votorantim Cimentos 144A
     7.25% 4/5/41 # 1,118,000 1,208,111
6,362,817
Communications – 4.54%
American Tower Trust I
     144A 1.551% 3/15/43 # 5,000 4,953
     144A 3.07% 3/15/23 # 20,000 19,921
AT&T 4.80% 6/15/44 30,000 31,501
CC Holdings GS V
     3.849% 4/15/23 5,000 5,084
CenturyLink
     5.80% 3/15/22 210,000 222,600
     6.75% 12/1/23 * 240,000 266,550
Cogent Communications
     Finance 144A
     5.625% 4/15/21 # 375,000 375,000
Comcast
     3.375% 2/15/25 20,000 20,264
     4.20% 8/15/34 5,000 5,155
Crown Castle Towers 144A
     4.883% 8/15/20 # 30,000 33,438
Digicel Group
     144A 7.125% 4/1/22 # 1,250,000 1,300,000
     144A 8.25% 9/30/20 # 730,000 792,050
DIRECTV Holdings
     4.45% 4/1/24 25,000 26,876
Historic TW 6.875% 6/15/18 25,000 29,517
Hughes Satellite Systems
     7.625% 6/15/21 280,000 317,800
Intelsat Luxembourg
     7.75% 6/1/21 110,000 116,463
     8.125% 6/1/23 1,625,000 1,767,187
Level 3 Escrow II 144A
     5.375% 8/15/22 # 460,000 463,450
SES 144A 3.60% 4/4/23 # 15,000 15,337
SES Global Americas Holdings
     144A 5.30% 3/25/44 # 15,000 16,422
Sprint
     144A 7.125% 6/15/24 # 1,015,000 1,039,106
     144A 7.25% 9/15/21 # 435,000 462,187
     144A 7.875% 9/15/23 # 260,000 279,500
Sprint Capital 6.90% 5/1/19 85,000 91,694
Time Warner 3.55% 6/1/24 5,000 5,004
Time Warner Cable
     4.00% 9/1/21 10,000 10,747
     8.25% 4/1/19 15,000 18,889
T-Mobile USA
     6.125% 1/15/22 115,000 119,600
     6.25% 4/1/21 180,000 187,425
     6.50% 1/15/24 * 70,000 72,975
Verizon Communications
     144A 4.862% 8/21/46 # 2,000 2,105
     144A 5.012% 8/21/54 # 5,000 5,240
     5.15% 9/15/23 10,000 11,330
     6.40% 9/15/33 3,000 3,794
     6.55% 9/15/43 6,000 7,739
Viacom 5.25% 4/1/44 * 20,000 21,590
VimpelCom Holdings 144A
     5.95% 2/13/23 # 500,000 453,050
Wind Acquisition Finance
     144A 4.75% 7/15/20 # 200,000 201,000
     144A 7.375% 4/23/21 # 365,000 385,988
Windstream
     7.50% 6/1/22 5,000 5,456
     7.50% 4/1/23 235,000 251,450
     7.75% 10/1/21 235,000 257,325
Zayo Group 10.125% 7/1/20 372,000 424,545
10,147,307
Consumer Cyclical – 1.79%
Bed Bath & Beyond
     4.915% 8/1/34 5,000 5,218
     5.165% 8/1/44 10,000 10,421
BI-LO 144A PIK 8.625%
     9/15/18 #T 470,000 464,125
DBP Holding 144A
     7.75% 10/15/20 # 251,000 239,705
Delphi 4.15% 3/15/24 10,000 10,415
eBay 3.45% 8/1/24 10,000 10,074
Expedia 4.50% 8/15/24 5,000 5,052
General Motors
     3.50% 10/2/18 10,000 10,263
Host Hotels & Resorts
     4.75% 3/1/23 20,000 21,518
Hyundai Capital America
     144A 2.55% 2/6/19 # 10,000 10,143
International Game
     Technology
     5.35% 10/15/23 10,000 10,452
Landry’s 144A
     9.375% 5/1/20 # 665,000 718,200

(continues)          NQ-DEX [8/14] 11/14 (13309) 9



Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

Principal Value
            amount°       (U.S. $)
Corporate Bonds (continued)
Consumer Cyclical (continued)
Magna International
     3.625% 6/15/24 30,000 $ 30,546
Marriott International
     3.375% 10/15/20 5,000 5,169
Men’s Wearhouse 144A
     7.00% 7/1/22 #* 215,000 226,287
Michaels Stores 144A
     5.875% 12/15/20 # 300,000 304,650
Pantry 8.375% 8/1/20 405,000 435,375
Party City Holdings
     8.875% 8/1/20 435,000 481,763
PF Chang’s China Bistro 144A
     10.25% 6/30/20 # 265,000 272,950
QVC
     4.375% 3/15/23 15,000 15,144
     144A 5.45% 8/15/34 # 10,000 10,116
Rite Aid 6.75% 6/15/21 * 480,000 511,800
Roundy’s Supermarkets 144A
     10.25% 12/15/20 # 100,000 97,250
Signet UK Finance
     4.70% 6/15/24 10,000 10,284
Target
     2.30% 6/26/19 5,000 5,057
     3.50% 7/1/24 35,000 35,819
TRW Automotive 144A
     4.45% 12/1/23 # 15,000 15,187
Wyndham Worldwide
     4.25% 3/1/22 5,000 5,162
     5.625% 3/1/21 10,000 11,231
3,989,376
Consumer Non-Cyclical – 0.95%
Actavis Funding 144A
     3.85% 6/15/24 # 5,000 5,068
Boston Scientific
     2.65% 10/1/18 5,000 5,100
     6.00% 1/15/20 15,000 17,408
CareFusion 6.375% 8/1/19 10,000 11,642
Celgene 3.95% 10/15/20 30,000 31,972
Covidien International
     Finance 4.20% 6/15/20 20,000 21,888
Crestview DS Merger Sub II
     10.00% 9/1/21 255,000 289,425
Darling Ingredients 144A
     5.375% 1/15/22 # 145,000 150,981
ESAL 144A 6.25% 2/5/23 #* 200,000 201,500
Express Scripts Holding
     2.25% 6/15/19 5,000 4,981
     3.50% 6/15/24 15,000 15,097
Forest Laboratories 144A
     4.375% 2/1/19 # 10,000 10,783
Gilead Sciences
     3.70% 4/1/24 10,000 10,450
JBS Investments 144A
     7.75% 10/28/20 # 470,000 509,950
McKesson 3.796% 3/15/24 30,000 30,940
Prestige Brands 144A
     5.375% 12/15/21 # 290,000 289,275
Quest Diagnostics
     2.70% 4/1/19 20,000 20,208
Spectrum Brands
     6.375% 11/15/20 75,000 81,000
     6.625% 11/15/22 280,000 304,500
Thermo Fisher Scientific
     2.40% 2/1/19 10,000 10,114
     4.15% 2/1/24 20,000 21,166
Tyson Foods 3.95% 8/15/24 15,000 15,390
Zimmer Holdings
     4.625% 11/30/19 30,000 33,151
Zoetis 3.25% 2/1/23 20,000 20,044
2,112,033
Energy – 7.32%
Anadarko Petroleum
     3.45% 7/15/24 10,000 10,131
Athlon Holdings 144A
     6.00% 5/1/22 #* 345,000 356,213
Baytex Energy
     144A 5.125% 6/1/21 # 80,000 80,400
     144A 5.625% 6/1/24 # 360,000 361,350
Calumet Specialty Products
     Partners 7.625% 1/15/22 570,000 598,500
Chaparral Energy
     7.625% 11/15/22 180,000 194,175
     8.25% 9/1/21 160,000 173,400
CHC Helicopter
     9.375% 6/1/21 * 480,000 537,600
Chesapeake Energy
     4.875% 4/15/22 710,000 746,352
Cimarex Energy
     4.375% 6/1/24 5,000 5,219
Compressco Partners 144A
     7.25% 8/15/22 # 450,000 455,625
Continental Resources
     4.50% 4/15/23 20,000 21,636
Ecopetrol 5.875% 5/28/45 615,000 666,328
Energy Transfer Equity
     5.875% 1/15/24 178,000 188,903

10 NQ-DEX [8/14] 11/14 (13309)



(Unaudited)

Principal Value
            amount°       (U.S. $)
Corporate Bonds (continued)
Energy (continued)
Energy XXI Gulf Coast 144A
     6.875% 3/15/24 # 390,000 $ 397,800
Exterran Partners
     6.00% 4/1/21 395,000 400,925
FTS International 144A
     6.25% 5/1/22 # 415,000 426,413
Genesis Energy
     5.75% 2/15/21 440,000 456,500
Halcon Resources
     8.875% 5/15/21 235,000 248,513
     9.75% 7/15/20 415,000 449,237
Hercules Offshore
     144A 6.75% 4/1/22 #* 430,000 389,687
     144A 7.50% 10/1/21 # 190,000 180,500
     144A 8.75% 7/15/21 # 115,000 116,725
Key Energy Services
     6.75% 3/1/21 570,000 581,400
Laredo Petroleum
     5.625% 1/15/22 180,000 185,850
     7.375% 5/1/22 75,000 82,500
Midstates Petroleum
     9.25% 6/1/21 590,000 641,625
Murphy Oil USA
     6.00% 8/15/23 400,000 426,000
Newfield Exploration
     5.625% 7/1/24 10,000 11,062
Northern Blizzard Resources
     144A 7.25% 2/1/22 # 254,000 269,240
Northern Oil & Gas
     8.00% 6/1/20 370,000 390,350
NuStar Logistics
     6.75% 2/1/21 240,000 267,600
Oasis Petroleum
     6.875% 3/15/22 440,000 482,900
Ocean Rig UDW 144A
     7.25% 4/1/19 # 520,000 520,000
Offshore Group Investment
     7.125% 4/1/23 180,000 179,550
PDC Energy 7.75% 10/15/22 380,000 418,000
Petrobras International
     Finance 5.375% 1/27/21 39,000 41,313
Petroleos Mexicanos
     5.50% 6/27/44 512,000 557,952
     6.625% 6/15/35 1,000,000 1,237,500
Pioneer Energy Services 144A
     6.125% 3/15/22 # 390,000 397,800
Pride International
     6.875% 8/15/20 20,000 24,134
Regency Energy Partners
     5.875% 3/1/22 385,000 415,800
Samson Investment
     9.75% 2/15/20 415,000 425,375
SandRidge Energy
     8.125% 10/15/22 505,000 539,087
Statoil 2.90% 11/8/20 30,000 30,894
Talisman Energy
     5.50% 5/15/42 25,000 27,733
Triangle USA Petroleum 144A
     6.75% 7/15/22 # 405,000 416,137
Warren Resources 144A
     9.00% 8/1/22 # 260,000 262,925
Williams 4.55% 6/24/24 20,000 20,180
Woodside Finance 144A
     8.75% 3/1/19 # 15,000 18,932
16,333,971
Financials – 0.27%
Aviation Capital Group 144A
     6.75% 4/6/21 # 5,000 5,693
General Electric Capital
     2.10% 12/11/19 35,000 35,370
     3.45% 5/15/24 35,000 35,766
     6.00% 8/7/19 15,000 17,682
Nuveen Investments 144A
     9.50% 10/15/20 # 425,000 498,245
592,756
Healthcare – 2.76%
Air Medical Group Holdings
     9.25% 11/1/18 229,000 241,881
Amgen 3.625% 5/22/24 15,000 15,283
Amsurg 144A
     5.625% 7/15/22 # 215,000 220,913
Community Health Systems
     144A 6.875% 2/1/22 # 485,000 517,737
     7.125% 7/15/20 105,000 113,794
     8.00% 11/15/19 25,000 27,250
Crimson Merger Sub 144A
     6.625% 5/15/22 # 380,000 363,375
DaVita HealthCare Partners
     5.125% 7/15/24 930,000 945,113
Immucor 11.125% 8/15/19 420,000 468,300
Kinetic Concepts
     10.50% 11/1/18 250,000 279,687
     12.50% 11/1/19 180,000 205,875
Mallinckrodt International
     Finance 4.75% 4/15/23 215,000 203,713

(continues)          NQ-DEX [8/14] 11/14 (13309) 11



Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

Principal Value
            amount°       (U.S. $)
Corporate Bonds (continued)
Healthcare (continued)
MPH Acquisition Holdings
     144A 6.625% 4/1/22 # 190,000 $ 199,263
Par Pharmaceutical
     7.375% 10/15/20 780,000 830,700
Salix Pharmaceuticals 144A
     6.00% 1/15/21 # 465,000 505,687
Tenet Healthcare
     144A 5.00% 3/1/19 # 270,000 274,050
     6.00% 10/1/20 180,000 195,750
     8.125% 4/1/22 235,000 271,131
Valeant Pharmaceuticals
     International 144A
     5.625% 12/1/21 # 100,000 101,875
VPI Escrow 144A
     6.375% 10/15/20 # 175,000 183,750
6,165,127
Insurance – 1.02%
Allstate 5.75% 8/15/53 10,000 10,719
American International Group
     8.175% 5/15/58 345,000 476,963
Berkshire Hathaway Finance
     2.90% 10/15/20 35,000 36,043
Chubb 6.375% 3/29/67 15,000 16,589
Highmark
     144A 4.75% 5/15/21 # 5,000 5,087
     144A 6.125% 5/15/41 # 5,000 5,148
Hockey Merger Sub 2 144A
     7.875% 10/1/21 # 435,000 460,013
Hub Holdings 144A PIK
     8.125% 7/15/19 #T 115,000 116,869
Liberty Mutual Group
     144A 4.25% 6/15/23 # 15,000 15,636
     144A 4.95% 5/1/22 # 5,000 5,515
MetLife 6.40% 12/15/36 100,000 113,250
Onex USI Acquisition 144A
     7.75% 1/15/21 # 395,000 408,825
Prudential Financial
     3.50% 5/15/24 5,000 5,078
Voya Financial
     5.65% 5/15/53 5,000 5,113
XL Group 6.50% 10/29/49 625,000 605,469
2,286,317
Media – 3.40%
Altice 144A 7.75% 5/15/22 # 430,000 457,950
CCO Holdings
     5.25% 9/30/22 475,000 483,906
Clear Channel
     Communications PIK
     14.00% 2/1/21 398,950 401,942
Columbus International 144A
     7.375% 3/30/21 # 870,000 950,475
CSC Holdings 144A
     5.25% 6/1/24 # 750,000 744,375
DISH DBS 5.00% 3/15/23 520,000 518,700
Gray Television
     7.50% 10/1/20 375,000 397,500
MDC Partners 144A
     6.75% 4/1/20 # 415,000 435,750
Mediacom Broadband 144A
     5.50% 4/15/21 # 250,000 254,063
Numericable Group 144A
     6.00% 5/15/22 # 430,000 443,437
RCN Telecom Services 144A
     8.50% 8/15/20 # 205,000 219,863
Sinclair Television Group
     144A 5.625% 8/1/24 # 720,000 721,800
Virgin Media Finance 144A
     6.375% 4/15/23 # 815,000 872,050
VTR Finance 144A
     6.875% 1/15/24 # 650,000 698,750
7,600,561
Natural Gas – 0.10%
El Paso Pipeline Partners
     Operating 4.30% 5/1/24 20,000 20,559
Enbridge Energy Partners
     8.05% 10/1/37 25,000 28,250
Energy Transfer Partners
     5.15% 2/1/43 10,000 10,169
     5.95% 10/1/43 5,000 5,653
     9.70% 3/15/19 7,000 9,077
EnLink Midstream Partners
     4.40% 4/1/24 15,000 15,895
Enterprise Products Operating
     7.034% 1/15/68 25,000 28,334
Kinder Morgan Energy
     Partners 9.00% 2/1/19 20,000 25,300
NiSource Finance
     6.125% 3/1/22 5,000 5,942
Plains All American Pipeline
     8.75% 5/1/19 10,000 12,783
Sunoco Logistics Partners
     Operations
     3.45% 1/15/23 10,000 9,857
TransCanada PipeLines
     6.35% 5/15/67 20,000 20,875

12 NQ-DEX [8/14] 11/14 (13309)



(Unaudited)

Number of       Value
            shares (U.S. $)
Corporate Bonds (continued)
Natural Gas (continued)
Williams Partners
     7.25% 2/1/17   20,000   $ 22,672
215,366
Real Estate Investment Trusts – 0.06%
Alexandria Real Estate
     Equities
     4.50% 7/30/29 5,000 5,168
     4.60% 4/1/22 15,000 15,999
Carey (W.P.) 4.60% 4/1/24 5,000 5,233
CBL & Associates
     5.25% 12/1/23 5,000 5,460
Corporate Office Properties
     3.60% 5/15/23 5,000 4,847
     5.25% 2/15/24 10,000 10,803
DDR
     4.75% 4/15/18 5,000 5,423
     7.50% 4/1/17 5,000 5,723
     7.875% 9/1/20 20,000 25,188
Digital Realty Trust
     5.875% 2/1/20 * 10,000 11,214
Excel Trust 4.625% 5/15/24 5,000 5,164
Healthcare Trust of America
     Holdings 3.375% 7/15/21 5,000 5,035
Regency Centers
     5.875% 6/15/17 20,000 22,276
127,533
Services – 2.74%
Algeco Scotsman Global
     Finance 144A
     10.75% 10/15/19 # 615,000 616,537
BlueLine Rental Finance 144A
     7.00% 2/1/19 # 225,000 238,500
Caesars Growth Properties
     Holdings 144A
     9.375% 5/1/22 # 425,000 411,984
Covanta Holding
     5.875% 3/1/24 415,000 431,600
Mattamy Group 144A
     6.50% 11/15/20 # 485,000 494,700
MCE Finance 144A
     5.00% 2/15/21 # 200,000 200,000
MGM Resorts International
     6.75% 10/1/20 215,000 238,650
     7.75% 3/15/22 180,000 211,050
     11.375% 3/1/18 213,000 269,977
Navios South American
     Logistics 144A
     7.25% 5/1/22 #* 375,000 389,531
Pinnacle Entertainment
     6.375% 8/1/21 170,000 177,225
     7.75% 4/1/22 * 125,000 135,625
     8.75% 5/15/20 * 58,000 62,495
Stena 144A 7.00% 2/1/24 #* 610,000 648,125
United Rentals North America
     5.75% 11/15/24 905,000 950,250
Vander Intermediate Holding
     II 144A PIK 9.75%
     2/1/19 #*T 145,000 155,513
Watco 144A
     6.375% 4/1/23 # 185,000 190,088
West 144A
     5.375% 7/15/22 # 305,000 297,375
6,119,225
Technology – 2.25%
Apple 3.45% 5/6/24 25,000 25,737
BMC Software Finance 144A
     8.125% 7/15/21 # 235,000 238,525
Broadcom 3.50% 8/1/24 5,000 5,082
CommScope 144A
     5.50% 6/15/24 # 415,000 424,337
Entegris 144A
     6.00% 4/1/22 # 415,000 429,525
First Data
     11.25% 1/15/21 332,000 386,780
     11.75% 8/15/21 535,500 635,906
First Data Holdings 144A PIK
     14.50% 9/24/19 #T 22,751 25,879
Infinity Acquisition 144A
     7.25% 8/1/22 # 505,000 501,213
Infor Software Parent 144A
     PIK 7.125% 5/1/21 #*T 515,000 526,587
j2 Global 8.00% 8/1/20 585,000 642,037
Micron Technology 144A
     5.50% 2/1/25 # 365,000 370,475
Motorola Solutions
     4.00% 9/1/24 10,000 10,000
National Semiconductor
     6.60% 6/15/17 20,000 22,961
NCR
     5.875% 12/15/21 110,000 115,775
     6.375% 12/15/23 335,000 363,475
NetApp 3.25% 12/15/22 10,000 9,864
Oracle
     3.40% 7/8/24 30,000 30,542
     4.50% 7/8/44 25,000 26,506
Seagate HDD Cayman 144A
     4.75% 1/1/25 # 15,000 15,375

(continues)          NQ-DEX [8/14] 11/14 (13309) 13



Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

Principal      Value
     amount° (U.S. $)
Corporate Bonds (continued)     
Technology (continued)
Viasystems 144A
     7.875% 5/1/19 # 205,000 $ 213,200
Xerox 6.35% 5/15/18 10,000 11,522
  5,031,303
Transportation – 0.50%
Brambles USA 144A
     5.35% 4/1/20 # 15,000 16,921
Burlington Northern Santa Fe
     4.90% 4/1/44 30,000 32,800
ERAC USA Finance 144A
     5.25% 10/1/20 # 35,000 39,844
Norfolk Southern
     3.85% 1/15/24 35,000 36,843
Red de Carreteras de
     Occidente 144A
     9.00% 6/10/28 # MXN 13,000,000 970,941
United Airlines 2014-1 Class
     A Pass Through Trust
     4.00% 4/11/26 t 5,000 5,113
United Airlines 2014-2 Class
     A Pass Through Trust
     3.75% 9/3/26 t 5,000 5,013
United Parcel Service
     5.125% 4/1/19 10,000 11,351
1,118,826
Utilities – 1.78%
AES
     5.50% 3/15/24 595,000 608,387
     7.375% 7/1/21 45,000 51,750
AES Gener 144A
     8.375% 12/18/73 # 200,000 229,000
Ameren Illinois
     9.75% 11/15/18 45,000 58,434
American Transmission
     Systems 144A
     5.25% 1/15/22 # 25,000 27,630
American Water Capital
     3.40% 3/1/25 15,000 15,169
Berkshire Hathaway Energy
     3.75% 11/15/23 10,000 10,407
Calpine
     5.375% 1/15/23 745,000 753,381
     5.75% 1/15/25 * 155,000 156,744
     144A 5.875% 1/15/24 #* 205,000 220,375
CMS Energy 6.25% 2/1/20 5,000 5,913
Commonwealth Edison
     5.80% 3/15/18 5,000 5,694
Dynegy 5.875% 6/1/23 * 255,000 249,263
Electricite de France 144A
     4.60% 1/27/20 # 15,000 16,718
Elwood Energy
     8.159% 7/5/26 206,986 234,411
Enel 144A
     8.75% 9/24/73 # 400,000 472,000
Entergy Arkansas
     3.70% 6/1/24 5,000 5,229
Entergy Louisiana
     4.05% 9/1/23 15,000 16,160
Exelon Generation
     4.25% 6/15/22 15,000 15,687
Great Plains Energy
     4.85% 6/1/21 15,000 16,663
     5.292% 6/15/22 5,000 5,767
Integrys Energy Group 6.11%
     12/1/66 * 15,000 15,383
IPALCO Enterprises
     5.00% 5/1/18 10,000 10,650
ITC Holdings
     3.65% 6/15/24 * 30,000 30,369
LG&E & KU Energy
     4.375% 10/1/21 20,000 21,768
National Rural Utilities
     Cooperative Finance
     4.75% 4/30/43 10,000 9,955
NextEra Energy Capital
     Holdings
     2.40% 9/15/19 25,000 25,179
     3.625% 6/15/23 5,000 5,134
NRG Energy 144A
     6.25% 5/1/24 # 545,000 565,437
NV Energy 6.25% 11/15/20 10,000 11,904
Pennsylvania Electric
     5.20% 4/1/20 25,000 27,942
PPL Electric Utilities
     3.00% 9/15/21 10,000 10,327
Public Service New Hampshire
     3.50% 11/1/23 5,000 5,236
Public Service Oklahoma
     5.15% 12/1/19 30,000 33,783
Puget Energy 6.00% 9/1/21 5,000 5,885
SCANA 4.125% 2/1/22 10,000 10,525
Wisconsin Energy
     6.25% 5/15/67 10,000 10,394
  3,974,653
Total Corporate Bonds
(cost $89,398,044) 92,922,413

14 NQ-DEX [8/14] 11/14 (13309)



(Unaudited)

Principal Value
     amount°      (U.S. $)
Non-Agency Asset-Backed Securities - 0.04%
Fifth Third Auto Trust     
     Series 2014-2 A2B
     0.315% 4/17/17 30,000 $ 30,090
Nissan Auto Receivables
     Owner Trust
     Series 2013-C A3
     0.67% 8/15/18 25,000 24,955
Nissan Master Owner Trust
     Receivables
     Series 2012-A A
     0.625% 5/15/17 25,000 25,050
Total Non-Agency
Asset-Backed Securities
(cost $80,081) 80,095
 
Non-Agency Collateralized Mortgage Obligations - 0.08%
Citicorp Mortgage Securities
     Trust
     Series 2007-1 2A1
     5.50% 1/25/22 5,883 5,923
Citicorp Residential Mortgage
     Trust
     Series 2006-3 A5
     5.948% 11/25/36 100,000 100,067
GSR Mortgage Loan Trust
     Series 2006-AR1 3A1
     2.884% 1/25/36 86,331 79,392
Total Non-Agency
Collateralized Mortgage
Obligations (cost $177,772) 185,382
 
Senior Secured Loans - 3.28%«
Akorn Tranche B
     4.50% 11/13/20 115,000 115,143
Applied Systems 2nd Lien
     7.50% 1/15/22 400,000 404,000
Ashland Water 2nd Lien
     7.75% 7/2/22 150,000 149,250
Atkore International 2nd Lien
     7.75% 9/27/21 210,000 208,688
Azure Midstream Tranche B
     6.50% 10/21/18 80,222 81,099
BJ’s Wholesale Club 2nd Lien
     8.50% 3/31/20 420,000 425,862
Borgata Tranche B 1st Lien
     6.75% 8/15/18 388,050 392,753
Caesars Growth Partners
     Tranche B 1st Lien
     6.25% 5/8/21 215,000 210,808
Citycenter Holdings Tranche B
     5.00% 10/9/20 359,160 359,339
Clear Channel
     Communications Tranche D
     6.75% 1/30/19 650,000 639,844
Flint Group Tranche 2nd Lien
     8.25% 5/2/22 430,000 429,283
Gentiva Health Services
     Tranche B
     6.50% 10/10/19 313,425 314,062
Hostess Brands 1st Lien
     6.75% 3/12/20 413,963 426,381
LTS Buyer 2nd Lien
     8.00% 3/15/21 60,088 60,613
Mauser Holdings 2nd Lien
     8.25% 6/30/22 440,000 440,275
Moxie Liberty Tranche B
     7.50% 8/21/20 215,000 221,988
Moxie Patriot (Panda Power
     Fund) Tranche B1
     6.75% 12/18/20 210,000 216,825
Nuveen Investments 2nd Lien
     6.50% 2/28/19 205,000 205,820
Otterbox Tranche B
     5.75% 5/30/20 325,000 322,156
Panda Temple Power II
     Tranche B 1st Lien
     7.25% 3/28/19 220,000 227,150
Polymer Group Tranche B
     5.25% 12/13/19 338,300 339,040
Rite Aid 2nd Lien
     5.75% 8/3/20 198,000 200,908
Samson Investment 2nd Lien
     5.00% 9/25/18 425,000 421,319
Travelport Finance
     Luxembourg Sarl Tranche B
     1st Lien 6.00% 8/15/21 280,000 281,715
Vantage Drilling Tranche B 1st  
     Lien 5.75% 3/28/19 233,816 233,475
Total Senior Secured Loans
(cost $7,295,911) 7,327,796
 
Sovereign Bonds - 2.23%Δ
Indonesia - 0.71%
Indonesia Government
     International Bond
     6.625% 2/17/37 1,350,000 1,599,750
1,599,750
Mexico - 1.05%
Mexican Bonos
     6.50% 6/10/21 MXN 20,282,000 1,659,185

(continues)               NQ-DEX [8/14] 11/14 (13309) 15



Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

     Principal Value
amount°      (U.S. $)
Sovereign BondsΔ (continued)
Mexico (continued)     
Mexican Bonos
     8.00% 6/11/20 MXN 7,737,000 $ 680,163
2,339,348
South Africa – 0.47%
South Africa Government
     International Bond
     5.375% 7/24/44 1,000,000 1,044,375
1,044,375
Total Sovereign Bonds
(cost $4,942,434) 4,983,473
 
Supranational Bank – 0.68%
Inter-American Development
     Bank 7.25% 7/17/17 IDR 17,930,000,000 1,530,645
Total Supranational Bank
(cost $1,495,517) 1,530,645
 
U.S. Treasury Obligations – 0.48%
U.S. Treasury Bond
     3.375% 5/15/44 10,000 10,577
U.S. Treasury Notes
     1.625% 7/31/19 * 210,000 210,041
     2.375% 8/15/24 * 840,000 842,297
Total U.S. Treasury
Obligations
(cost $1,058,569) 1,062,915
 
Leveraged Non-Recourse Security – 0.00%
JPMorgan Fixed Income
     Auction Pass Through Trust
     Series 2007-B 144A
     8.845% 1/15/87 #@t 500,000 0
Total Leveraged
Non-Recourse Security
(cost $425,000) 0
Number of
shares
Limited Partnership – 0.58%
Ares Management * 9,000 160,920
Brookfield Infrastructure
     Partners * 5,400 229,230
Lehigh Gas Partners 25,200 911,988
Total Limited Partnership
(cost $853,432) 1,302,138
 
Preferred Stock – 1.25%
Alabama Power 5.625% 410 10,147
Ally Financial 144A 7.00% # 800 808,325
Freddie Mac 6.02% 40,000 407,000
GMAC Capital Trust I
     8.125% 12,000 322,560
Integrys Energy Group
     6.00% 300 7,866
MetLife 5.00% 23,200 727,784
National Retail Properties
     5.70% 200 4,696
Public Storage 5.20% 200 4,636
Regions Financial
     6.375% * 16,000 398,240
     6.375% 200 5,070
Vornado Realty Trust
     6.625% @ 3,700 94,017
Total Preferred Stock
(cost $3,157,631) 2,790,341
 
Warrant – 0.00%
Wheeler Real Estate
     Investment Trust strike
     price $5.50, expiration
     date 4/29/19 @† 9,900 6,732
Total Warrant (cost $82) 6,732
Principal
amount°
Short-Term Investments – 1.91%
Discount Notes – 0.62%
Federal Home Loan Bank
     0.055% 9/12/14 567,543 567,542
     0.075% 11/19/14 243,228 243,212
     0.077% 11/14/14 568,451 568,415
1,379,169
Repurchase Agreements – 1.05%
Bank of America Merrill Lynch
     0.02%, dated 8/29/14, to
     be repurchased on 9/2/14,
     repurchase price $597,572
     (collateralized by U.S.
     government obligations
     0.00%-2.125%
     9/18/14-5/15/44; market
     value $609,523) 597,571 597,571

16 NQ-DEX [8/14] 11/14 (13309)



(Unaudited)

      Principal Value  
      amount°       (U.S. $)  
Short-Term Investments (continued)
Repurchase Agreements (continued)
Bank of Montreal
     0.05%, dated 8/29/14, to
     be repurchased on 9/2/14,
     repurchase price $199,191
     (collateralized by U.S.
     government obligations
     0.00%-4.375%
     1/2/15-2/15/38; market
     value $203,174) 199,190 $ 199,190
BNP Paribas
     0.05%, dated 8/29/14, to
     be repurchased on 9/2/14,
     repurchase price
     $1,556,247 (collateralized
     by U.S. government
     obligations
     0.00%-3.125%
     2/26/15-8/15/21; market
     value $1,587,363) 1,556,239 1,556,239
2,353,000
 
U.S. Treasury Obligation – 0.24%
U.S. Treasury Bill
     0.093% 11/13/14 536,506 536,491
536,491
 
Total Short-Term
Investments
(cost $4,268,487) 4,268,660
Total Value of Securities
Before Securities Lending
Collateral – 138.43%
(cost $275,860,841) 309,101,458
 
Number of
shares
Securities Lending Collateral** – 7.77%
Investment Company
Delaware Investments
     Collateral Fund No.1 17,344,608 17,344,608
Total Securities Lending
Collateral
(cost $17,344,608) 17,344,608
Total Value of
Securities – 146.20%
(cost $293,205,449) $ 326,446,066 n
Obligation to Return
Securities Lending
Collateral – (7.77%)** (17,344,608 )
 
Borrowing Under Line of
Credit – (38.96%) (87,000,000 )
Receivables and Other
Assets Net of
Liabilities – 0.53% 1,183,615
Net Assets – 100.00% $ 223,285,073
____________________ 

# Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At Aug. 31, 2014, the aggregate value of Rule 144A securities was $55,775,530, which represents 24.98% of the Fund’s net assets. See Note 6 in “Notes.”
* Fully or partially on loan.
** See Note 5 in“Notes” for additional information on securities lending collateral and non-cash collateral.
@ Illiquid security. At Aug. 31, 2014, the aggregate value of illiquid securities was $2,778,764, which represents 1.24% of the Fund’s net assets. See Note 6 in “Notes.”
t Pass Through Agreement. Security represents the contractual right to receive a proportionate amount of underlying payments due to the counterparty pursuant to various agreements related to the rescheduling of obligations and the exchange of certain notes.
100% of the income received was in the form of both cash and par.
v Securities have been classified by type of business.
T 100% of the income received was in the form of additional cash.
=

Security is being fair valued in accordance with the Fund’s fair valuation policy. At Aug. 31, 2014, the aggregate value of fair valued securities was $35,557, which represents 0.02% of the Fund’s net assets. See Note 1 in “Notes.”

The rate shown is the effective yield at the time of purchase.

n

Includes $17,494,679 of securities loaned.

°

Principal amount shown is stated in U.S. dollars unless noted that the security is denominated in another currency.

Non income producing security.

Variable rate security. The rate shown is the rate as of Aug. 31, 2014. Interest rates reset periodically.

Fully or partially pledged as collateral for futures contracts.

Δ

Securities have been classified by country of origin.

« Senior secured loans generally pay interest at rates which are periodically redetermined by reference to a base lending rate plus a premium. These base lending rates are generally: (i) the prime rate offered by one or more United States banks, (ii) the lending rate offered by one or more European banks such as the London Inter-Bank Offered Rate (LIBOR), and (iii) the certificate of deposit rate. Senior secured loans may be subject to restrictions on resale. Stated rate in effect at Aug. 31, 2014.
ϕ

Step coupon bond. Coupon increases or decreases periodically based on a predetermined schedule. Stated rate in effect at Aug. 31, 2014.

(continues)          NQ-DEX [8/14] 11/14 (13309) 17



Schedule of investments

Delaware Enhanced Global Dividend and Income Fund (Unaudited)

The following futures contract were outstanding at Aug. 31, 2014:1

Futures Contract

Notional Unrealized
Cost Notional Expiration Appreciation
Contracts to Buy (Sell) (Proceeds) Value Date (Depreciation)
(17)   U.S. Treasury 5 yr Notes       $(2,015,647)       $(2,020,211)       1/2/15       $         (4,564)

The use of futures contracts involves elements of market risk and risks in excess of the amounts disclosed in the financial statements. The notional value presented above represents the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

1See Note 4 in “Notes.”

Summary of abbreviations:
ADR - American Depositary Receipt
ARM - Adjustable Rate Mortgage
AUD - Australian Dollar
ETN - Exchange-Traded Note
FDR - Finnish Depositary Receipt
GNMA - Government National Mortgage Association
IDR - Indonesian Rupiah
MXN - Mexican Peso
PIK - Pay-in-kind
REIT - Real Estate Investment Trust
REMIC - Real Estate Mortgage Investment Conduit
S.F. - Single Family
yr - Year

18 NQ-DEX [8/14] 11/14 (13309)



Notes
Delaware Enhanced Global Dividend and Income Fund
August 31, 2014 (Unaudited)

1. Significant Accounting Policies

The following accounting policies are in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and are consistently followed by Delaware Enhanced Global Dividend and Income Fund (Fund). This report covers the period of time since the Fund’s last fiscal year end.

Security Valuation — Equity securities and Exchange-Traded Funds (ETFs), except those traded on the Nasdaq Stock Market, Inc. (Nasdaq), are valued at the last quoted sales price as of the time of the regular close of the New York Stock Exchange on the valuation date. Securities and ETFs traded on the Nasdaq are valued in accordance with the Nasdaq Official Closing Price, which may not be the last sales price. If, on a particular day, an equity security or ETF does not trade, then the mean between the bid and ask prices will be used, which approximates fair value. Securities listed on a foreign exchange are normally valued at the last quoted sales price on the valuation date. Investment company securities are valued at net asset value per share, as reported by the underlying investment company. U.S. government and agency securities are valued at the mean between the bid and ask prices, which approximates fair value. Other debt securities and credit default swap (CDS) contracts are valued based upon valuations provided by an independent pricing service or broker/counterparty and reviewed by management. To the extent current market prices are not available, the pricing service may take into account developments related to the specific security, as well as transactions in comparable securities. Valuations for fixed income securities utilize matrix systems, which reflect such factors as security prices, yields, maturities, and ratings, and are supplemented by dealer and exchange quotations. For asset-backed securities, collateralized mortgage obligations, commercial mortgage securities and U.S. government agency mortgage securities, pricing vendors utilize matrix pricing which considers prepayment speed; attributes of the collateral; yield or price of bonds of comparable quality, coupon, maturity, and type as well as broker/dealer-supplied prices. Swap prices are derived using daily swap curves and models that incorporate a number of market data factors, such as discounted cash flows, trades, and values of the underlying reference instruments. Foreign currency exchange contracts and foreign cross currency exchange contracts are valued at the mean between the bid and ask prices, which approximates fair value. Interpolated values are derived when the settlement date of the contract is an interim date for which quotations are not available. Futures contracts and options on futures contracts are valued at the daily quoted settlement prices. Exchange-traded options are valued at the last reported sale price or, if no sales are reported, at the mean between the last reported bid and ask prices, which approximates fair value. Generally, other securities and assets for which market quotations are not readily available are valued at fair value as determined in good faith under the direction of the Fund’s Board of Trustees (Board). In determining whether market quotations are readily available or fair valuation will be used, various factors will be taken into consideration, such as market closures or suspension of trading in a security. The Fund may use fair value pricing more frequently for securities traded primarily in non-U.S. markets because, among other things, most foreign markets close well before the Fund values its securities, generally as of 4:00 p.m. Eastern time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, government actions or pronouncements, aftermarket trading, or news events may have occurred in the interim. To account for this, the Fund may frequently value foreign securities using fair value prices based on third-party vendor modeling tools (international fair value pricing).

Federal and Foreign Income Taxes — No provision for federal income taxes has been made as the Fund intends to continue to qualify for federal income tax purposes as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and make the requisite distributions to shareholders. The Fund evaluates tax positions taken or expected to be taken in the course of preparing the Fund’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold are recorded as a tax benefit or expense in the current year. Management has analyzed the Fund’s tax positions taken for all open federal income tax years (Nov. 30, 2010 – Nov. 30, 2013), and has concluded that no provision for federal income tax is required in the Fund’s financial statements. In regard to foreign taxes only, the Fund has open tax years in certain foreign countries it invests in that may date back to the inception of the Fund.

Distributions — The Fund has implemented a managed distribution policy. Under the policy, the Fund is managed with a goal of generating as much of the distribution as possible from net investment income and short-term capital gains. The balance of the distribution will then come from long-term capital gains to the extent permitted, and if necessary, a return of capital. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years. For federal income tax purposes, the effect of such capital loss carryovers may be to convert (to the extent of such current year gains) what would otherwise be non-taxable returns of capital into distributions taxable as ordinary income. The use of such capital loss carryovers in this circumstance will produce no tax benefit for shareholders, and the capital loss carryovers available to offset future capital gains of the Fund will be reduced. Under the Regulated

(continues)          NQ-DEX [8/14] 11/14 (13309) 19



(Unaudited)

Investment Company Modernization Act of 2010 (Act), this tax effect attributable to the Fund’s capital loss carryovers (the conversion of returns of capital into distributions taxable as ordinary income) will no longer apply to net capital losses of the Fund arising in Fund tax years beginning after Nov. 30, 2011. The actual determination of the source of the Fund’s distributions can be made only at year end. Shareholders should receive written notification regarding the actual components and tax treatments of all Fund distributions for the calendar year 2014 in early 2015.

Repurchase Agreements — The Fund may purchase certain U.S. government securities subject to the counterparty’s agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Fund’s custodian or a third-party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. All open repurchase agreements as of the date of this report were entered into on Aug. 29, 2014.

To Be Announced Trades (TBA) — The Fund may contract to purchase or sell securities for a fixed price at a transaction date beyond the customary settlement period (Examples: when issued, delayed delivery, forward commitment, or TBA transactions) consistent with the Fund’s ability to manage its investment portfolio and meet redemption requests. These transactions involve a commitment by the Fund to purchase or sell securities for a predetermined price or yield with payment and delivery taking place more than three days in the future, or after a period longer than the customary settlement period for that type of security. No interest will be earned by the Fund on such purchases until the securities are delivered or the transaction is completed; however, the market value may change prior to delivery.

Foreign Currency Transactions — Transactions denominated in foreign currencies are recorded at the prevailing exchange rates on the valuation date in accordance with the Fund’s prospectus. The value of all assets and liabilities denominated in foreign currencies is translated daily into U.S. dollars at the exchange rate of such currencies against the U.S. dollar. Transaction gains or losses resulting from changes in exchange rates during the reporting period or upon settlement of the foreign currency transaction are reported in operations for the current period. The Fund generally bifurcates that portion of realized gains and losses on investments in debt securities which is due to changes in foreign exchange rates from that which is due to changes in market prices of debt securities. For foreign equity securities, these changes are included in net realized and unrealized gain or loss on investments. The Fund reports certain foreign currency related transactions as components of realized gains (losses) for financial reporting purposes, whereas such components are treated as ordinary income (loss) for federal income tax purposes.

Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and the differences could be material.

Other — Expenses directly attributable to the Fund are charged directly to the Fund. Other expenses common to various funds within the Delaware Investments® Family of Funds are generally allocated among such funds on the basis of average net assets. Management fees and some other expenses are paid monthly. Security transactions are recorded on the date the securities are purchased or sold (trade date) for financial reporting purposes. Costs used in calculating realized gains and losses on the sale of investment securities are those of the specific securities sold. Dividend income is recorded on the ex-dividend date and interest income is recorded on the accrual basis. Discounts and premiums on debt securities are amortized to interest income over the lives of the respective securities using the effective interest method. Realized gains (losses) on paydowns of asset- and mortgage-backed securities are classified as interest income. Taxable non-cash dividends are recorded as dividend income. Distributions received from investments in Real Estate Investment Trusts (REITs) are recorded as dividend income on the ex-dividend date, subject to reclassification upon notice of the character of such distributions by the issuer. Foreign dividends are also recorded on the ex-dividend date or as soon after the ex-dividend date that the Fund is aware of such dividends, net of all tax withholdings, a portion of which may be reclaimable. Withholding taxes and reclaims on foreign dividends and interest have been recorded in accordance with the Fund’s understanding of the applicable country’s tax rules and rates.

20 NQ-DEX [8/14] 11/14 (13309)



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2. Investments

At Aug. 31, 2014, the cost of investments for federal income tax purposes has been estimated since final tax characteristics cannot be determined until fiscal year end. At Aug. 31, 2014, the cost of investments and unrealized appreciation (depreciation) for the Fund were as follows:

Cost of investments       $ 294,320,206
Aggregate unrealized appreciation $ 43,243,883
Aggregate unrealized depreciation (11,118,023 )
Net unrealized appreciation $ 32,125,860

For federal income tax purposes, at Nov. 30, 2013, capital loss carryforwards of $48,241,998 may be carried forward and applied against future capital gains. Capital loss carryforwards will expire as follows: $25,993,776 expires in 2016 and $22,248,222 expires in 2017.

On Dec. 22, 2010, the Act was enacted, which changed various technical rules governing the tax treatment of regulated investment companies. The changes were generally effective for taxable years beginning after the date of enactment. Under the Act, the Fund is permitted to carry forward capital losses incurred in taxable years beginning after the date of enactment for an unlimited period. However, any losses incurred during those future taxable years will be required to be utilized prior to the losses incurred in pre-enactment taxable years, which carry an expiration date. As a result of this ordering rule, pre-enactment capital loss carryforwards may be more likely to expire unused. Additionally, post-enactment capital loss carryforwards will retain their character as either short-term or long-term capital losses rather than being considered all short-term as permitted under previous regulation. At Nov. 30, 2013, there were no capital loss carryforward under the Act.

U.S. GAAP defines fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. A three-level hierarchy for fair value measurements has been established based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. The Fund’s investment in its entirety is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-level hierarchy of inputs is summarized below.

Level 1 –  Inputs are quoted prices in active markets for identical investments. (Examples: equity securities, open-end investment companies, futures contracts, exchange-traded options contracts)
   
Level 2 – Other observable inputs, including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates) or other market-corroborated inputs. (Examples: debt securities, government securities, swap contracts, foreign currency exchange contracts, foreign securities utilizing international fair value pricing, broker-quoted securities, fair valued securities)
 
Level 3 –

Significant unobservable inputs, including the Fund’s own assumptions used to determine the fair value of investments. (Examples: broker-quoted securities, fair valued securities)

Level 3 investments are valued using significant unobservable inputs. The Fund may also use an income-based valuation approach in which the anticipated future cash flows of the investment are discounted to calculate fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may also be based upon current market prices of securities that are comparable in coupon, rating, maturity, and industry. The derived value of a Level 3 investment may not represent the value which is received upon disposition and this could impact the results of operations.

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(Unaudited)

2. Investments (continued)

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of Aug. 31, 2014:

Level 1 Level 2 Level 3 Total
Agency, Asset-Backed &
     Mortgage-
     Backed Securities       $       $ 1,428,164       $       $ 1,428,164
Corporate Debt 119,130,154 119,130,154
Foreign Debt 6,514,118 6,514,118
Senior Secured Loans 7,327,796 7,327,796
Common Stock
     Consumer Discretionary 2,228,119 14,239,150 16,467,269
     Consumer Staples 6,741,688 7,570,449 14,312,137
     Diversified REITs 1,460,863 777,611 2,238,474
     Energy 7,218,787 7,346,022 14,564,809
     Financials 3,752,858 17,156,497 20,909,355
     Healthcare 12,055,243 8,399,924 20,455,167
     Healthcare REITs 719,532 719,532
     Hotel REITs 1,557,075 1,557,075
     Industrial REITs 2,891,671 257,607 3,149,278
     Industrials 5,093,107 12,110,114 17,203,221
     Information Technology 11,592,800 2,627,479 14,220,279
     Mall REITs 1,830,873 1,830,873
     Manufactured Housing REITs 497,405 497,405
     Materials 3,106,973 5,357,297 8,464,270
     Mixed REITs 315,930 315,930
     Mortgage REITs 554,735 554,735
     Multifamily REITs 1,084,965 1,084,965
     Office REITs 1,463,114 645,862 2,108,976
     Office/Diversified REIT 144,246 144,246
     Self-Storage REIT 279,310 279,310
     Shopping Center REITs 1,477,801 758,730 2,236,531
     Single Tenant REITs 418,154 418,154
     Specialty REITs 1,104,207 606,891 1,711,098
     Telecommunications 4,832,285 3,602,258 8,434,543
     Utilities 1,756,098 1,179,340 2,935,438
Convertible Preferred Stock1 4,876,961 3,369,165 35,557 8,281,683
Exchange-Traded Fund 175,687 175,687
Limited Partnership 1,302,138 1,302,138
Preferred Stock1 1,575,016 1,215,325 2,790,341
Warrant 6,732 6,732
U.S. Treasury Obligations 1,062,915 1,062,915
Short-Term Investments 4,268,660 4,268,660
Securities Lending Collateral 17,344,608 17,344,608
Total $ 81,970,127 $ 244,440,382 $ 35,557 $ 326,446,066
Futures Contracts $ (4,564 ) $ $ $ (4,564 )

1 Security type is valued across multiple levels. Level 1 investments represent exchange-traded investments, Level 2 investments represent investments with observable inputs or matrix-priced investments, and Level 3 investments represent investments without observable inputs. The amounts attributed to Level 1 investments, Level 2 investments, and Level 3 investments represent the following percentages of the total market value of these security types:

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      Level 1       Level 2       Level 3       Total
Convertible Preferred Stock 58.89% 40.68%    0.43 % 100.00%
Preferred Stock 56.45% 43.55% 100.00%

The securities that have been deemed worthless on the “Schedule of investments” are considered to be Level 3 investments in this table.

As a result of utilizing international fair value pricing at Aug. 31, 2014, the majority of the Fund’s common stock was categorized as Level 2.

During the period ended Aug. 31, 2014, there were no transfers between Level 1 investments, Level 2 investments, or Level 3 investments that had a significant impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. In accordance with the fair valuation procedures described in Note 1, international fair value pricing of securities in the Fund occurs when market volatility exceeds an established rolling threshold. If the threshold is exceeded on a given date, then prices of international securities (those that traded on exchanges that close at a different time than the time that the Fund’s net asset value is determined) will be established using a separate pricing feed from a third-party vendor designed to establish a price for each such security as of the time that the Fund’s net asset value is determined. Further, international fair value pricing uses other observable market-based inputs in place of the closing exchange price due to the events occurring after the close of the exchange or market on which the investment is principally traded, causing a change in classification between levels. The Fund’s policy is to recognize transfers at the beginning of the reporting period.

A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the beginning, interim, or end of the period in relation to net assets. Management has determined not to provide additional disclosure on Level 3 inputs under ASU No. 2011-04 since the Level 3 investments are not considered significant to the Fund’s net assets at the end of the period.

3. Line of Credit

For the period ended Aug. 31, 2014, the Fund borrowed a portion of the money available to it pursuant to a $87,000,000 Credit Agreement with The Bank of New York Mellon (BNY Mellon) that expires on June 24, 2015. Prior to June 25, 2014, the Credit Agreement was $67,000,000. Depending on market conditions, the amount borrowed by the Fund pursuant to the Credit Agreement may be reduced or possibly increased in the future.

At Aug. 31, 2014, the par value of loan outstanding was $87,000,000, at a variable interest rate of 1.04%. During the period ended Aug. 31, 2014, the average daily balance of loans outstanding was $71,963,504, at a weighted average interest rate of approximately 1.04%.

Interest on borrowings is based on a variable short-term rate plus an applicable margin. The commitment fee under the Credit Agreement is computed at a rate of 0.10% per annum on the unused balance. Prior to June 25, 2014, the commitment fee under the Credit Agreement was computed at a rate of 0.15% per annum. The loan is collateralized by the Fund’s portfolio.

4. Derivatives

U.S. GAAP requires disclosures that enable investors to understand: (1) how and why an entity uses derivatives; (2) how they are accounted for; and (3) how they affect an entity’s results of operations and financial position.

Foreign Currency Exchange Contracts — The Fund may enter into foreign currency exchange contracts and foreign cross currency exchange contracts as a way of managing foreign exchange rate risk. The Fund may enter into these contracts to fix the U.S. dollar value of a security that it has agreed to buy or sell for the period between the date the trade was entered into and the date the security is delivered and paid for. The Fund may also use these contracts to hedge the U.S. dollar value of securities it already owns that are denominated in foreign currencies. In addition, the Fund may enter into these contracts to facilitate or expedite the settlement of portfolio transactions. The change in value is recorded as an unrealized gain or loss. When the contract is closed, a realized gain or loss is recorded equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The use of foreign currency exchange contracts and foreign cross currency exchange contracts does not eliminate fluctuations in the underlying prices of the securities, but does establish a rate of exchange that can be achieved in the future. Although foreign currency exchange contracts and foreign cross currency exchange contracts limit the risk of loss due to an unfavorable change in the value of the hedged currency, they also limit any potential gain that might result should the value of the currency change favorably. In addition, the Fund could be exposed to risks if

(continues)          NQ-DEX [8/14] 11/14 (13309) 23



(Unaudited)

4. Derivatives (continued)

the counterparties to the contracts are unable to meet the terms of their contracts. The Fund’s maximum risk of loss from counterparty credit risk is the value of its currency exchanged with the counterparty. The risk is generally mitigated by having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty. No foreign currency exchange contracts were outstanding at Aug. 31, 2014.

Futures Contracts — A futures contract is an agreement in which the writer (or seller) of the contract agrees to deliver to the buyer an amount of cash or securities equal to a specific dollar amount times the difference between the value of a specific security or index at the close of the last trading day of the contract and the price at which the agreement is made. The Fund may use futures in the normal course of pursuing its investment objective. The Fund may invest in futures contracts to hedge its existing portfolio securities against fluctuations in value caused by changes in interest rates or market conditions. Upon entering into a futures contract, the Fund deposits cash or pledges U.S. government securities to a broker, equal to the minimum “initial margin” requirements of the exchange on which the contract is traded. Subsequent payments are received from the broker or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as “variation margin” and are recorded daily by the Fund as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks of entering into futures contracts include potential imperfect correlation between the futures contracts and the underlying securities and the possibility of an illiquid secondary market for these instruments. When investing in futures, there is reduced counterparty credit risk to the Fund because futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees against default.

Options Contracts — During the period ended Aug. 31, 2014, the Fund entered into options contracts in the normal course of pursuing its investment objectives. The Fund may buy or write options contracts for any number of reasons, including without limitation: to manage the Fund’s exposure to changes in securities prices caused by interest rate or market conditions and foreign currencies; to earn income; as an efficient means of adjusting the Fund’s overall exposure to certain markets; to protect the value of portfolio securities; and as a cash management tool. The Fund may buy or write call or put options on securities, futures, swaps, swaptions, financial indices, and foreign currencies. When the Fund buys an option, a premium is paid and an asset is recorded and adjusted on a daily basis to reflect the current market value of the option purchased. When the Fund writes an option, a premium is received and a liability is recorded and adjusted on a daily basis to reflect the current market value of the option written. Premiums received from writing options that expire unexercised are treated by the Fund on the expiration date as realized gains. The difference between the premium received and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is treated as realized gain or loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining whether the Fund has a realized gain or loss. If a put option is exercised, the premium reduces the cost basis of the securities purchased by the Fund. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the security underlying the written option. When writing options, the Fund is subject to minimal counterparty risk because the counterparty is only obligated to pay premiums and does not bear the market risk of an unfavorable market change. No option contracts were outstanding at Aug. 31, 2014.

Swap Contracts — The Fund may enter into CDS contracts in the normal course of pursuing its investment objectives. The Fund may enter into CDS contracts in order to hedge against a credit event, to enhance total return or to gain exposure to certain securities or markets. The Fund will not be permitted to enter into any swap transactions unless, at the time of entering into such transactions, the unsecured long-term debt of the actual counterparty, combined with any credit enhancements, is rated at least BBB- by Standard and Poor’s Financial Services LLC. (S&P) or at least Baa3 by Moody’s Investors Service Inc. (Moody’s) or is determined to be of equivalent credit quality by the Manager.

Credit Default Swaps. A CDS contract is a risk-transfer instrument through which one party (purchaser of protection) transfers to another party (seller of protection) the financial risk of a credit event (as defined in the CDS agreement), as it relates to a particular referenced security or basket of securities (such as an index). In exchange for the protection offered by the seller of protection, the purchaser of protection agrees to pay the seller of protection a periodic amount at a stated rate that is applied to the notional amount of the CDS contract. In addition, an upfront payment may be made or received by the Fund in connection with an unwinding or assignment of a CDS contract. Upon the occurrence of a credit event, the seller of protection would pay the par (or other agreed-upon) value of the reference security (or basket of securities) to the counterparty. Credit events generally include, among others, bankruptcy, failure to pay, and obligation default.

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(Unaudited)

During the period ended Aug. 31, 2014, the Fund entered into CDS contracts as a purchaser of protection. Periodic payments (receipts) on such contracts are accrued daily and recorded as unrealized losses (gains) on swap contracts. Upon payment (receipt), such amounts are recorded as realized losses (gains) on swap contracts. Upfront payments made or received in connection with CDS contracts are amortized over the expected life of the CDS contracts as unrealized losses (gains) on swap contracts. The change in value of CDS contracts is recorded daily as unrealized appreciation or depreciation. A realized gain or loss is recorded upon a credit event (as defined in the CDS agreement) or the maturity or termination of the agreement. Initial margin and variation margin are posted to central counterparties for CDS basket trades, as determined by the applicable central counterparty.

CDS contracts may involve greater risks than if the Fund had invested in the reference obligation directly. CDS contracts are subject to general market risk, liquidity risk, counterparty risk and credit risk. The Fund’s maximum risk of loss from counterparty credit risk, either as the seller of protection or the buyer of protection, is the fair value of the contract. This risk is mitigated by (1) for bilateral swap contracts, having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty, and (2) for cleared swaps, trading these instruments through a central counterparty.

Swaps Generally. The value of open swaps may differ from that which would be realized in the event the Fund terminated its position in the contract on any given day. Risks of entering into these contracts include the potential inability of the counterparty to meet the terms of the contracts. This type of risk is generally limited to the amount of favorable movement in the value of the underlying security, instrument or basket of instruments, if any, at the day of default. Risks also arise from potential losses from adverse market movements and such losses could exceed the unrealized amounts. No swap contracts were outstanding at Aug. 31, 2014.

5. Securities Lending

The Fund, along with other funds in the Delaware Investments® Family of Funds, may lend its securities pursuant to a security lending agreement (Lending Agreement) with BNY Mellon. At the time a security is loaned, the borrower must post collateral equal to the required percentage of the market value of the loaned security, including any accrued interest. The required percentage is: (1) 102% with respect to U.S. securities and foreign securities that are denominated and payable in U.S. dollars; and (2) 105% with respect to foreign securities. With respect to each loan, if on any business day the aggregate market value of securities collateral plus cash collateral held is less than the aggregate market value of the securities which are the subject of such loan, the borrower will be notified to provide additional collateral by the end of the following business day which, together with the collateral already held, will be not less than the applicable initial collateral requirements for such security loan. If the aggregate market value of securities collateral and cash collateral held with respect to a security loan exceeds the applicable initial collateral requirement, upon the request of the borrower, BNY Mellon must return enough collateral to the borrower by the end of the following business day to reduce the value of the remaining collateral to the applicable initial collateral requirement for such security loan. As a result of the foregoing, the value of the collateral held with respect to a loaned security on any particular day, may be more or less than the value of the security on loan.

Cash collateral received is generally invested in the Delaware Investments Collateral Fund No. 1 (Collective Trust) established by BNY Mellon for the purpose of investment on behalf of funds managed by Delaware Management Company (DMC), a series of Delaware Management Business Trust, that participate in BNY Mellon’s securities lending program. The Collective Trust may invest in U.S. government securities and high-quality corporate debt, asset-backed and other money market securities, and in repurchase agreements collateralized by such securities, provided that the Collective Trust will generally have a dollar-weighted average portfolio maturity of 60 days or less. The Fund can also accept U.S. government securities and letters of credit (non-cash collateral) in connection with securities loans. In the event of default or bankruptcy by the lending agent, realization and/or retention of the collateral may be subject to legal proceedings. In the event the borrower fails to return the loaned securities and the collateral received is insufficient to cover the value of the loaned securities and provided such collateral shortfall is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Fund or, at the discretion of the lending agent, replace the loaned securities. The Fund continues to record dividends or interest, as applicable, on the securities loaned and is subject to changes in value of the securities loaned that may occur during the term of the loan. The Fund has the right under the Lending Agreement to recover the securities from the borrower on demand. With respect to security loans collateralized by non-cash collateral, the Fund receives loan premiums paid by the borrower. With respect to security loans collateralized by cash collateral, the earnings from the collateral investments are shared among the Fund, the security lending agent and the borrower. The Fund records security lending income net of allocations to the security lending agent, and the borrower.

(continues)          NQ-DEX [8/14] 11/14 (13309) 25



(Unaudited)

5. Securities Lending (continued)

The Collective Trust used for the investment of cash collateral received from borrowers of securities seeks to maintain a net asset value per unit of $1.00, but there can be no assurance that it will always be able to do so. The Fund may incur investment losses as a result of investing securities lending collateral in the Collective Trust. This could occur if an investment in the Collective Trust defaulted or if it were necessary to liquidate assets in the Collective Trust to meet returns on outstanding security loans at a time when the Collective Trust’s net asset value per unit was less than $1.00. Under those circumstances, the Fund may not receive an amount from the Collective Trust that is equal in amount to the collateral the Fund would be required to return to the borrower of the securities and the Fund would be required to make up for this shortfall.

At Aug. 31, 2014, the value of securities on loan was $17,494,679, for which the Fund received collateral, comprised of non-cash collateral (U.S. government securities) valued at $1,918,252, and cash collateral of $17,344,608. At Aug. 31, 2014, the value of invested collateral was $17,344,608. Investments purchased with cash collateral are presented on the “Schedule of investments” under the caption “Securities Lending Collateral”.

6. Credit and Market Risk

The Fund borrows through its line of credit for purposes of leveraging. Leveraging may result in higher degrees of volatility because the Fund’s net asset value could be subject to fluctuations in short-term interest rates and changes in market value of portfolio securities attributable to the leverage.

Some countries in which the Fund may invest require governmental approval for the repatriation of investment income, capital, or the proceeds of sales of securities by foreign investors. In addition, if there is deterioration in a country’s balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad.

The securities exchanges of certain foreign markets are substantially smaller, less liquid and more volatile than the major securities markets in the United States. Consequently, acquisition and disposition of securities by the Fund may be inhibited. In addition, a significant portion of the aggregate market value of securities listed on the major securities exchanges in emerging markets is held by a smaller number of investors. This may limit the number of shares available for acquisition or disposition by the Fund.

The Fund invests a portion of its assets in high yield fixed income securities, which are securities rated BB or lower by S&P and Ba or lower by Moody’s, or similarly rated by another nationally recognized statistical rating organization. Investments in these higher yielding securities are generally accompanied by a greater degree of credit risk than higher rated securities. Additionally, lower rated securities may be more susceptible to adverse economic and competitive industry conditions than investment grade securities.

The Fund invests in fixed income securities whose value is derived from an underlying pool of mortgages or consumer loans. The value of these securities is sensitive to changes in economic conditions, including delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates. Investors receive principal and interest payments as the underlying mortgages and consumer loans are paid back. Some of these securities are collateralized mortgage obligations (CMOs). CMOs are debt securities issued by U.S. government agencies or by financial institutions and other mortgage lenders, which are collateralized by a pool of mortgages held under an indenture. Prepayment of mortgages may shorten the stated maturity of the obligations and can result in a loss of premium, if any has been paid. Certain of these securities may be stripped (securities which provide only the principal or interest feature of the underlying security). The yield to maturity on an interest-only CMO is extremely sensitive not only to changes in prevailing interest rates, but also to the rate of principal payments (including prepayments) on the related underlying mortgage assets. A rapid rate of principal payments may have a material adverse effect on the Fund’s yield to maturity. If the underlying mortgage assets experience greater than anticipated prepayments of principal, the Fund may fail to fully recoup its initial investment in these securities even if the securities are rated in the highest rating categories.

The Fund invests in certain obligations that may have liquidity protection designed to ensure that the receipt of payments due on the underlying security is timely. Such protection may be provided through guarantees, insurance policies or letters of credit obtained by the issuer or sponsor through third parties, through various means of structuring the transaction or through a combination of such approaches. The Fund will not pay any additional fees for such credit support, although the existence of credit support may increase the price of a security.

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(Unaudited)

The Fund invests in REITs and is subject to the risks associated with that industry. If the Fund holds real estate directly as a result of defaults or receives rental income directly from real estate holdings, its tax status as a regulated investment company may be jeopardized. There were no direct real estate holdings during the period ended Aug. 31, 2014. The Fund’s REIT holdings are also affected by interest rate changes, particularly if the REITs it holds use floating rate debt to finance their ongoing operations.

The Fund may invest up to 10% of its net assets in illiquid securities, which may include securities with contractual restrictions on resale, securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended, and other securities which may not be readily marketable. The relative illiquidity of these securities may impair the Fund from disposing of them in a timely manner and at a fair price when it is necessary or desirable to do so. While maintaining oversight, the Fund’s Board has delegated to DMC, the day-to-day functions of determining whether individual securities are liquid for purposes of the Fund’s limitation on investments in illiquid securities. Securities eligible for resale pursuant to Rule 144A, which are determined to be liquid, are not subject to the Fund’s 10% limit on investments in illiquid securities. Rule 144A and illiquid securities have been identified on the “Schedule of investments.”

7. Subsequent Events

Management has determined that no material events or transactions occurred subsequent to Aug. 31, 2014 that would require recognition or disclosure in the Fund’s “Schedule of investments.”

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Item 2. Controls and Procedures.

     The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures within 90 days of the filing of this report and have concluded that they are effective in providing reasonable assurance that the information required to be disclosed by the registrant in its reports or statements filed under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission.

     There were no significant changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

     File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), exactly as set forth below: