Schedule of investments
Delaware VIP® Trust — Delaware VIP Special Situations Series
March 31, 2022 (Unaudited)
Number of shares | Value (US $) | ||
Common Stocks — 98.93%♦ | |||
Basic Industry — 8.04% | |||
Arconic † | 70,300 | $�� 1,801,086 | |
Ashland Global Holdings | 15,700 | 1,545,037 | |
Avient | 37,700 | 1,809,600 | |
Berry Global Group † | 59,300 | 3,437,028 | |
HB Fuller | 32,500 | 2,147,275 | |
Huntsman | 80,800 | 3,030,808 | |
Louisiana-Pacific | 75,500 | 4,690,060 | |
Summit Materials Class A † | 43,100 | 1,338,686 | |
19,799,580 | |||
Consumer Discretionary — 9.89% | |||
Acushnet Holdings | 28,500 | 1,147,410 | |
Adient † | 49,100 | 2,001,807 | |
Barnes Group | 42,900 | 1,724,151 | |
Cable One | 800 | 1,171,392 | |
Choice Hotels International | 10,300 | 1,460,128 | |
Cracker Barrel Old Country Store | 13,900 | 1,650,347 | |
Denny's † | 44,100 | 631,071 | |
Group 1 Automotive | 11,700 | 1,963,611 | |
KB Home | 49,300 | 1,596,334 | |
Meritage Homes † | 22,600 | 1,790,598 | |
Nexstar Media Group Class A | 10,400 | 1,960,192 | |
PROG Holdings † | 25,403 | 730,844 | |
Steven Madden | 35,700 | 1,379,448 | |
Texas Roadhouse | 16,950 | 1,419,224 | |
UniFirst | 12,200 | 2,248,216 | |
Wolverine World Wide | 66,513 | 1,500,533 | |
24,375,306 | |||
Consumer Staples — 3.13% | |||
J & J Snack Foods | 13,900 | 2,155,890 | |
Performance Food Group † | 45,016 | 2,291,765 | |
Scotts Miracle-Gro | 8,100 | 995,976 | |
Spectrum Brands Holdings | 25,500 | 2,262,360 | |
7,705,991 | |||
Energy — 8.70% | |||
CNX Resources † | 192,000 | 3,978,240 | |
Delek US Holdings † | 53,500 | 1,135,270 | |
Devon Energy | 64,023 | 3,785,680 | |
Dril-Quip † | 24,100 | 900,135 | |
Helix Energy Solutions Group † | 149,300 | 713,654 | |
Magnolia Oil & Gas Class A | 149,300 | 3,530,945 | |
Matador Resources | 9,138 | 484,131 | |
Murphy Oil | 66,900 | 2,702,091 | |
Patterson-UTI Energy | 174,000 | 2,693,520 | |
Renewable Energy Group † | 24,775 | 1,502,604 | |
21,426,270 | |||
Financial Services — 28.28% | |||
American Equity Investment Life Holding | 97,500 | 3,891,225 |
Number of shares | Value (US $) | ||
Common Stocks♦ (continued) | |||
Financial Services (continued) | |||
Bank of NT Butterfield & Son | 41,600 | $ 1,492,608 | |
East West Bancorp | 85,000 | 6,716,700 | |
Essent Group | 43,100 | 1,776,151 | |
First Financial Bancorp | 96,000 | 2,212,800 | |
First Interstate BancSystem Class A | 82,685 | 3,040,327 | |
FNB | 303,500 | 3,778,575 | |
Hancock Whitney | 98,750 | 5,149,813 | |
Hanover Insurance Group | 23,300 | 3,483,816 | |
Hope Bancorp | 47,593 | 765,295 | |
Kemper | 23,800 | 1,345,652 | |
Metropolitan Bank Holding † | 2,823 | 287,297 | |
NBT Bancorp | 6,143 | 221,947 | |
Prosperity Bancshares | 15,590 | 1,081,634 | |
S&T Bancorp | 29,143 | 862,050 | |
Sandy Spring Bancorp | 29,500 | 1,325,140 | |
Selective Insurance Group | 41,600 | 3,717,376 | |
Stewart Information Services | 24,700 | 1,497,067 | |
Stifel Financial | 79,450 | 5,394,655 | |
Synovus Financial | 65,700 | 3,219,300 | |
Umpqua Holdings | 194,000 | 3,658,840 | |
Valley National Bancorp | 253,600 | 3,301,872 | |
Webster Financial | 119,899 | 6,728,732 | |
Western Alliance Bancorp | 56,950 | 4,716,599 | |
69,665,471 | |||
Healthcare — 4.08% | |||
Avanos Medical † | 39,300 | 1,316,550 | |
Integer Holdings † | 26,300 | 2,118,991 | |
Integra LifeSciences Holdings † | 36,000 | 2,313,360 | |
NuVasive † | 23,300 | 1,321,110 | |
Select Medical Holdings | 55,000 | 1,319,450 | |
Service Corp. International | 25,450 | 1,675,119 | |
10,064,580 | |||
Industrials — 12.12% | |||
Altra Industrial Motion | 55,800 | 2,172,294 | |
Atkore † | 37,800 | 3,721,032 | |
CACI International Class A † | 5,000 | 1,506,300 | |
Deluxe | 17,900 | 541,296 | |
H&E Equipment Services | 31,700 | 1,379,584 | |
ITT | 47,729 | 3,589,698 | |
KBR | 44,032 | 2,409,872 | |
MasTec † | 58,090 | 5,059,639 | |
Primoris Services | 52,050 | 1,239,831 | |
Regal Rexnord | 12,108 | 1,801,428 | |
WESCO International † | 34,700 | 4,515,858 | |
Zurn Water Solutions | 54,000 | 1,911,600 | |
29,848,432 |
NQ-FL5 [3/22] 5/22 (2218537) 1
Schedule of investments
Delaware VIP® Trust — Delaware VIP Special Situations Series
Number of shares | Value (US $) | ||
Common Stocks♦ (continued) | |||
REITs — 8.74% | |||
Brandywine Realty Trust | 157,000 | $ 2,219,980 | |
Independence Realty Trust | 49,800 | 1,316,712 | |
Kite Realty Group Trust | 101,705 | 2,315,823 | |
Life Storage | 18,450 | 2,590,933 | |
LXP Industrial Trust | 157,400 | 2,471,180 | |
National Health Investors | 34,100 | 2,012,241 | |
Outfront Media | 113,200 | 3,218,276 | |
RPT Realty | 99,900 | 1,375,623 | |
Spirit Realty Capital | 61,700 | 2,839,434 | |
Summit Hotel Properties † | 116,900 | 1,164,324 | |
21,524,526 | |||
Technology — 10.41% | |||
Cirrus Logic † | 25,000 | 2,119,750 | |
Concentrix | 11,000 | 1,832,160 | |
Diodes † | 18,700 | 1,626,713 | |
Flex † | 172,209 | 3,194,477 | |
NCR † | 41,388 | 1,663,384 | |
NetScout Systems † | 44,600 | 1,430,768 | |
Power Integrations | 13,900 | 1,288,252 | |
TD SYNNEX | 16,000 | 1,651,360 | |
Teradyne | 16,500 | 1,950,795 | |
Tower Semiconductor † | 79,900 | 3,867,160 | |
TTM Technologies † | 150,800 | 2,234,856 | |
Viavi Solutions † | 130,000 | 2,090,400 | |
Vishay Intertechnology | 35,500 | 695,800 | |
25,645,875 | |||
Transportation — 2.10% | |||
Kirby † | 26,500 | 1,913,035 | |
Saia † | 4,200 | 1,024,044 | |
Werner Enterprises | 54,300 | 2,226,300 | |
5,163,379 | |||
Utilities — 3.44% | |||
ALLETE | 29,800 | 1,996,004 | |
Black Hills | 31,474 | 2,424,127 | |
South Jersey Industries | 60,100 | 2,076,455 | |
Southwest Gas Holdings | 25,400 | 1,988,566 | |
8,485,152 | |||
Total Common Stocks (cost $183,007,013) | 243,704,562 | ||
Number of shares | Value (US $) | ||
Short-Term Investments — 0.74% | |||
Money Market Mutual Funds — 0.74% | |||
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.23%) | 456,218 | $ 456,218 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.12%) | 456,219 | 456,219 | |
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.25%) | 456,219 | 456,219 | |
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.23%) | 456,219 | 456,219 | |
Total Short-Term Investments (cost $1,824,875) | 1,824,875 | ||
Total Value of Securities—99.67% (cost $184,831,888) | 245,529,437 | ||
Receivables and Other Assets Net of Liabilities—0.33% | 810,329 | ||
Net Assets Applicable to 6,981,142 Shares Outstanding—100.00% | $246,339,766 |
♦ | 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 |
2 NQ-FL5 [3/22] 5/22 (2218537)