Schedule of investments
Delaware VIP® Trust — Delaware VIP Small Cap Value Series
March 31, 2021 (Unaudited)
Number of shares | Value (US $) | ||
Common Stock — 99.39%♦ | |||
Basic Industry — 7.76% | |||
Arconic † | 319,300 | $8,107,027 | |
Ashland Global Holdings | 103,600 | 9,196,572 | |
Avient | 195,900 | 9,260,193 | |
Berry Global Group † | 430,600 | 26,438,840 | |
HB Fuller | 211,800 | 13,324,338 | |
Huntsman | 446,200 | 12,863,946 | |
Louisiana-Pacific | 552,500 | 30,641,650 | |
Summit Materials Class A † | 279,800 | 7,839,996 | |
117,672,562 | |||
Business Services — 1.87% | |||
Deluxe | 120,800 | 5,068,768 | |
PAE † | 425,000 | 3,833,500 | |
WESCO International † | 224,000 | 19,382,720 | |
28,284,988 | |||
Capital Spending — 10.50% | |||
Altra Industrial Motion | 390,970 | 21,628,461 | |
Atkore † | 315,500 | 22,684,450 | |
H&E Equipment Services | 207,000 | 7,866,000 | |
ITT | 315,500 | 28,682,105 | |
KBR | 289,693 | 11,121,314 | |
MasTec † | 420,246 | 39,377,050 | |
Primoris Services | 334,700 | 11,088,611 | |
Rexnord | 354,300 | 16,683,987 | |
159,131,978 | |||
Consumer Cyclical — 4.80% | |||
Adient † | 362,100 | 16,004,820 | |
Barnes Group | 221,500 | 10,973,110 | |
KB Home | 321,500 | 14,959,395 | |
Knoll | 343,993 | 5,679,324 | |
Leggett & Platt | 195,900 | 8,942,835 | |
Meritage Homes † | 147,500 | 13,558,200 | |
Standard Motor Products | 64,201 | 2,669,478 | |
72,787,162 | |||
Consumer Services — 10.15% | |||
Aaron's | 82,300 | 2,113,464 | |
Acushnet Holdings | 199,500 | 8,245,335 | |
American Eagle Outfitters | 340,000 | 9,941,600 | |
Asbury Automotive Group † | 91,400 | 17,960,100 | |
Cable One | 4,750 | 8,684,710 | |
Choice Hotels International † | 135,800 | 14,569,982 |
Number of shares | Value (US $) | ||
Common Stock♦ (continued) | |||
Consumer Services (continued) | |||
Cracker Barrel Old Country Store | 91,600 | $15,835,808 | |
Denny's † | 290,500 | 5,260,955 | |
PROG Holdings | 191,300 | 8,281,377 | |
Steven Madden | 239,150 | 8,910,729 | |
TEGNA | 710,900 | 13,386,247 | |
Texas Roadhouse † | 110,400 | 10,591,776 | |
UniFirst | 75,200 | 16,822,992 | |
Wolverine World Wide | 347,975 | 13,334,402 | |
153,939,477 | |||
Consumer Staples — 3.65% | |||
Core-Mark Holding | 226,569 | 8,765,955 | |
J & J Snack Foods | 78,800 | 12,373,964 | |
Performance Food Group † | 195,495 | 11,262,467 | |
Scotts Miracle-Gro | 36,300 | 8,892,411 | |
Spectrum Brands Holdings | 165,800 | 14,093,000 | |
55,387,797 | |||
Energy — 3.60% | |||
CNX Resources † | 1,061,600 | 15,605,520 | |
Delek US Holdings | 333,900 | 7,272,342 | |
Devon Energy | 708,677 | 15,484,592 | |
Dril-Quip † | 158,000 | 5,250,340 | |
Helix Energy Solutions Group † | 913,800 | 4,614,690 | |
Patterson-UTI Energy | 883,100 | 6,296,503 | |
54,523,987 | |||
Financial Services — 29.38% | |||
American Equity Investment Life Holding | 570,300 | 17,981,559 | |
Bank of NT Butterfield & Son | 272,200 | 10,403,484 | |
East West Bancorp | 705,036 | 52,031,657 | |
Essent Group | 104,400 | 4,957,956 | |
First Financial Bancorp | 625,000 | 15,000,000 | |
First Interstate BancSystem Class A | 222,100 | 10,225,484 | |
First Midwest Bancorp | 169,900 | 3,722,509 | |
FNB | 1,894,400 | 24,058,880 | |
Great Western Bancorp | 515,000 | 15,599,350 | |
Hancock Whitney | 651,200 | 27,356,912 | |
Hanover Insurance Group | 149,900 | 19,406,054 | |
Kemper | 136,100 | 10,849,892 | |
NBT Bancorp | 145,900 | 5,821,410 | |
Prosperity Bancshares | 170,400 | 12,761,256 |
NQ-VIP-884 [3/21] 5/21 (1643678) 1
Schedule of investments
Delaware VIP® Trust — Delaware VIP Small Cap Value Series
Number of shares | Value (US $) | ||
Common Stock♦ (continued) | |||
Financial Services (continued) | |||
S&T Bancorp | 208,942 | $6,999,557 | |
Sandy Spring Bancorp | 193,000 | 8,381,990 | |
Selective Insurance Group | 284,890 | 20,665,920 | |
Sterling Bancorp | 500,200 | 11,514,604 | |
Stifel Financial | 559,750 | 35,857,585 | |
Synovus Financial | 403,400 | 18,455,550 | |
Umpqua Holdings | 1,200,100 | 21,061,755 | |
Valley National Bancorp | 1,573,600 | 21,621,264 | |
Webster Financial | 545,500 | 30,062,505 | |
WesBanco | 145,100 | 5,232,306 | |
Western Alliance Bancorp | 375,300 | 35,443,332 | |
445,472,771 | |||
Healthcare — 3.13% | |||
Avanos Medical † | 242,800 | 10,620,072 | |
Integer Holdings † | 152,300 | 14,026,830 | |
Integra LifeSciences Holdings † | 201,000 | 13,887,090 | |
Service Corp. International | 175,400 | 8,954,170 | |
47,488,162 | |||
Real Estate — 7.62% | |||
Brandywine Realty Trust | 1,038,533 | 13,407,461 | |
Independence Realty Trust | 442,600 | 6,727,520 | |
Kite Realty Group Trust | 426,318 | 8,223,674 | |
Lexington Realty Trust | 1,159,800 | 12,885,378 | |
Life Storage | 144,450 | 12,415,478 | |
National Health Investors | 131,200 | 9,483,136 | |
Outfront Media † | 752,600 | 16,429,258 | |
RPT Realty | 646,600 | 7,377,706 | |
Spirit Realty Capital | 331,500 | 14,088,750 | |
STAG Industrial | 200,666 | 6,744,384 | |
Summit Hotel Properties † | 767,800 | 7,800,848 | |
115,583,593 | |||
Technology — 10.94% | |||
Cirrus Logic † | 161,600 | 13,702,064 | |
Coherent † | 27,708 | 7,007,076 | |
Concentrix † | 72,800 | 10,899,616 | |
Diodes † | 112,000 | 8,942,080 | |
Flex † | 1,175,757 | 21,528,111 | |
NCR † | 133,721 | 5,074,712 | |
NetScout Systems † | 291,263 | 8,201,966 | |
ON Semiconductor † | 475,100 | 19,768,911 | |
SYNNEX | 70,400 | 8,084,736 |
Number of shares | Value (US $) | ||
Common Stock♦ (continued) | |||
Technology (continued) | |||
Teradyne | 145,900 | $17,753,112 | |
Tower Semiconductor † | 513,000 | 14,384,520 | |
TTM Technologies † | 893,112 | 12,950,124 | |
Viavi Solutions † | 774,500 | 12,159,650 | |
Vishay Intertechnology | 225,800 | 5,437,264 | |
165,893,942 | |||
Transportation — 2.83% | |||
Kirby † | 170,800 | 10,295,824 | |
Saia † | 34,450 | 7,943,481 | |
SkyWest † | 147,300 | 8,024,904 | |
Werner Enterprises | 354,400 | 16,717,048 | |
42,981,257 | |||
Utilities — 3.16% | |||
ALLETE | 196,000 | 13,169,240 | |
Black Hills | 200,400 | 13,380,708 | |
South Jersey Industries | 393,700 | 8,889,746 | |
Southwest Gas Holdings | 180,900 | 12,429,639 | |
47,869,333 | |||
Total Common Stock (cost $910,921,117) | 1,507,017,009 | ||
Short-Term Investments — 0.72% | |||
Money Market Mutual Funds — 0.72% | |||
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.01%) | 2,726,081 | 2,726,081 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.01%) | 2,726,081 | 2,726,081 | |
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.03%) | 2,726,081 | 2,726,081 |
2 NQ-VIP-884 [3/21] 5/21 (1643678)
Number of shares | Value (US $) | ||
Short-Term Investments (continued) | |||
Money Market Mutual Funds (continued) | |||
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.00%) | 2,726,082 | $2,726,082 | |
Total Short-Term Investments (cost $10,904,325) | 10,904,325 | ||
Total Value of Securities—100.11% (cost $921,825,442) | 1,517,921,334 | ||
Liabilities Net of Receivables and Other Assets—(0.11%) | (1,598,262) | ||
Net Assets Applicable to 37,120,098 Shares Outstanding—100.00% | $1,516,323,072 |
♦ | Narrow industries are utilized for compliance purposes for diversification whereas broad sectors are used for financial reporting. |
† | Non-income producing security. |
Summary of abbreviations: |
GS – Goldman Sachs |
NQ-VIP-884 [3/21] 5/21 (1643678) 3