Schedule of investments
Delaware Ivy VIP Growth
March 31, 2023 (Unaudited)
| Number of shares | Value (US $) | ||
| Common Stocks — 99.68%♦ | |||
| Communication Services — 8.53% | |||
| Alphabet Class A † | 336,950 | $ 34,951,824 | |
| Alphabet Class C † | 55,850 | ��5,808,400 | |
| Electronic Arts | 153,383 | 18,474,982 | |
| 59,235,206 | |||
| Consumer Discretionary — 13.23% | |||
| Amazon.com † | 345,257 | 35,661,596 | |
| Booking Holdings † | 3,684 | 9,771,479 | |
| Ferrari | 62,310 | 16,882,271 | |
| Home Depot | 16,615 | 4,903,419 | |
| LVMH Moet Hennessy Louis Vuitton ADR | 67,454 | 12,393,323 | |
| NIKE Class B | 99,644 | 12,220,340 | |
| 91,832,428 | |||
| Consumer Staples — 3.16% | |||
| Coca-Cola | 329,573 | 20,443,413 | |
| Estee Lauder Class A | 6,186 | 1,524,602 | |
| 21,968,015 | |||
| Financials — 4.73% | |||
| Intercontinental Exchange | 160,540 | 16,742,717 | |
| S&P Global | 46,559 | 16,052,146 | |
| 32,794,863 | |||
| Healthcare — 11.53% | |||
| Cooper | 37,646 | 14,055,511 | |
| Danaher | 64,134 | 16,164,333 | |
| Intuitive Surgical † | 35,759 | 9,135,352 | |
| UnitedHealth Group | 60,232 | 28,465,041 | |
| Veeva Systems Class A † | 27,351 | 5,026,840 | |
| Zoetis | 42,911 | 7,142,107 | |
| 79,989,184 | |||
| Industrials — 9.06% | |||
| CoStar Group † | 335,403 | 23,092,497 | |
| Equifax | 58,360 | 11,837,742 | |
| JB Hunt Transport Services | 67,127 | 11,778,103 | |
| TransUnion | 98,634 | 6,129,117 | |
| Union Pacific | 21,035 | 4,233,504 | |
| Verisk Analytics | 30,263 | 5,806,259 | |
| 62,877,222 | |||
| Information Technology — 49.44% | |||
| Adobe † | 32,177 | 12,400,050 | |
| Apple | 349,819 | 57,685,153 | |
| Autodesk † | 40,681 | 8,468,157 | |
| Broadridge Financial Solutions | 84,031 | 12,316,424 | |
| Intuit | 36,874 | 16,439,535 | |
| Number of shares | Value (US $) | ||
| Common Stocks♦ (continued) | |||
| Information Technology (continued) | |||
| Microsoft | 319,159 | $ 92,013,540 | |
| Motorola Solutions | 105,879 | 30,295,158 | |
| NVIDIA | 103,281 | 28,688,363 | |
| Salesforce † | 55,388 | 11,065,415 | |
| VeriSign † | 145,684 | 30,787,400 | |
| Visa Class A | 190,471 | 42,943,592 | |
| 343,102,787 | |||
| Total Common Stocks (cost $487,362,213) | 691,799,705 | ||
| Short-Term Investments — 0.42% | |||
| Money Market Mutual Funds — 0.42% | |||
| BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.72%) | 723,114 | 723,114 | |
| Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.72%) | 723,114 | 723,114 | |
| Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.84%) | 723,114 | 723,114 | |
| Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.73%) | 723,115 | 723,115 | |
| Total Short-Term Investments (cost $2,892,457) | 2,892,457 | ||
| Total Value of Securities—100.10% (cost $490,254,670) | 694,692,162 | ||
| Liabilities Net of Receivables and Other Assets—(0.10%) | (716,083) | ||
| Net Assets Applicable to 77,197,980 Shares Outstanding—100.00% | $693,976,079 | ||
| ♦ | Narrow industries are utilized for compliance purposes for concentration whereas broad sectors are used for financial reporting. |
| † | Non-income producing security. |
| Summary of abbreviations: |
| ADR – American Depositary Receipt |
| S&P – Standard & Poor’s Financial Services LLC |
NQ-IV094 [3/23] 5/23 (2913044) 1