Schedule of investments
Delaware VIP® Trust — Delaware VIP Opportunity Series
March 31, 2022 (Unaudited)
Number of shares | Value (US $) | ||
Common Stocks — 99.73% | |||
Basic Materials — 8.26% | |||
Beacon Roofing Supply † | 12,046 | $ 714,087 | |
Boise Cascade | 9,188 | 638,290 | |
Huntsman | 37,497 | 1,406,513 | |
Kaiser Aluminum | 8,096 | 762,319 | |
Minerals Technologies | 12,856 | 850,424 | |
Reliance Steel & Aluminum | 7,582 | 1,390,160 | |
Westrock | 12,269 | 577,011 | |
Worthington Industries | 13,725 | 705,602 | |
7,044,406 | |||
Business Services — 4.85% | |||
ABM Industries | 11,332 | 521,725 | |
Aramark | 22,240 | 836,224 | |
ASGN † | 7,870 | 918,508 | |
Casella Waste Systems Class A † | 4,534 | 397,405 | |
Clean Harbors † | 4,689 | 523,480 | |
WillScot Mobile Mini Holdings † | 24,037 | 940,568 | |
4,137,910 | |||
Capital Goods — 11.79% | |||
Ameresco Class A † | 5,312 | 422,304 | |
Barnes Group | 4,776 | 191,947 | |
Carlisle | 1,886 | 463,805 | |
Columbus McKinnon | 2,983 | 126,479 | |
ESCO Technologies | 3,769 | 263,529 | |
Federal Signal | 8,482 | 286,268 | |
Gates Industrial † | 18,220 | 274,393 | |
Generac Holdings † | 884 | 262,778 | |
Graco | 7,069 | 492,851 | |
Jacobs Engineering Group | 5,946 | 819,418 | |
Kadant | 1,834 | 356,144 | |
KBR | 11,605 | 635,142 | |
Lincoln Electric Holdings | 4,366 | 601,679 | |
MasTec † | 5,644 | 491,592 | |
Oshkosh | 6,074 | 611,348 | |
Quanta Services | 11,664 | 1,535,099 | |
Regal Rexnord | 2,924 | 435,033 | |
Tetra Tech | 2,893 | 477,171 | |
WESCO International † | 3,258 | 423,996 | |
Woodward | 2,812 | 351,247 | |
Zurn Water Solutions | 14,929 | 528,487 | |
10,050,710 | |||
Communications Services — 0.70% | |||
Switch Class A | 19,297 | 594,734 | |
594,734 | |||
Consumer Discretionary — 5.25% | |||
American Eagle Outfitters | 28,127 | 472,534 | |
BJ's Wholesale Club Holdings † | 7,904 | 534,389 | |
Dick's Sporting Goods | 9,246 | 924,785 | |
Five Below † | 5,265 | 833,818 |
Number of shares | Value (US $) | ||
Common Stocks (continued) | |||
Consumer Discretionary (continued) | |||
Malibu Boats Class A † | 11,901 | $ 690,377 | |
Sonic Automotive Class A | 3,256 | 138,412 | |
Steven Madden | 22,859 | 883,272 | |
4,477,587 | |||
Consumer Services — 2.88% | |||
Allegiant Travel † | 3,371 | 547,417 | |
Brinker International † | 9,428 | 359,772 | |
Jack in the Box | 5,631 | 525,992 | |
Texas Roadhouse | 5,864 | 490,993 | |
Wendy's | 24,328 | 534,486 | |
2,458,660 | |||
Consumer Staples — 2.91% | |||
Casey's General Stores | 4,657 | 922,878 | |
Helen of Troy † | 1,771 | 346,832 | |
J & J Snack Foods | 4,794 | 743,549 | |
YETI Holdings † | 7,862 | 471,563 | |
2,484,822 | |||
Credit Cyclicals — 2.78% | |||
BorgWarner | 13,729 | 534,058 | |
Dana | 18,874 | 331,616 | |
KB Home | 8,924 | 288,959 | |
La-Z-Boy | 12,055 | 317,890 | |
Taylor Morrison Home † | 12,568 | 342,101 | |
Toll Brothers | 11,728 | 551,451 | |
2,366,075 | |||
Energy — 5.52% | |||
Chesapeake Energy | 8,334 | 725,058 | |
Diamondback Energy | 16,600 | 2,275,528 | |
Liberty Oilfield Services Class A † | 58,565 | 867,934 | |
PDC Energy | 11,546 | 839,163 | |
4,707,683 | |||
Financial Services — 14.60% | |||
Axis Capital Holdings | 12,648 | 764,825 | |
Comerica | 8,466 | 765,580 | |
East West Bancorp | 14,967 | 1,182,692 | |
Essent Group | 14,980 | 617,326 | |
First Horizon | 10,001 | 234,924 | |
Hamilton Lane Class A | 5,493 | 424,554 | |
Independent Bank Group | 5,312 | 378,002 | |
Kemper | 12,136 | 686,169 | |
NMI Holdings Class A † | 18,154 | 374,335 | |
Primerica | 5,622 | 769,202 | |
Raymond James Financial | 6,347 | 697,599 | |
Reinsurance Group of America | 6,347 | 694,743 | |
Selective Insurance Group | 6,651 | 594,333 | |
SouthState | 8,175 | 666,998 | |
Stifel Financial | 7,439 | 505,108 | |
Umpqua Holdings | 37,882 | 714,455 |
NQ-FL4 [3/22] 5/22 (2218530) 1
Schedule of investments
Delaware VIP® Trust — Delaware VIP Opportunity Series
Number of shares | Value (US $) | ||
Common Stocks (continued) | |||
Financial Services (continued) | |||
Valley National Bancorp | 43,859 | $ 571,044 | |
Webster Financial | 16,111 | 904,149 | |
Western Alliance Bancorp | 6,836 | 566,158 | |
WSFS Financial | 7,239 | 337,482 | |
12,449,678 | |||
Healthcare — 13.06% | |||
Agios Pharmaceuticals † | 8,469 | 246,533 | |
Amicus Therapeutics † | 28,107 | 266,173 | |
Azenta | 5,974 | 495,125 | |
Biohaven Pharmaceutical Holding † | 4,887 | 579,452 | |
Bio-Techne | 1,804 | 781,204 | |
Blueprint Medicines † | 7,303 | 466,516 | |
Catalent † | 8,496 | 942,206 | |
Encompass Health | 9,943 | 707,047 | |
Exact Sciences † | 3,769 | 263,528 | |
Halozyme Therapeutics † | 17,143 | 683,663 | |
ICON † | 2,603 | 633,102 | |
Insmed † | 14,027 | 329,634 | |
Inspire Medical Systems † | 2,611 | 670,218 | |
Ligand Pharmaceuticals † | 4,951 | 556,938 | |
Natera † | 6,913 | 281,221 | |
NeoGenomics † | 8,465 | 102,850 | |
Neurocrine Biosciences † | 7,489 | 702,094 | |
Quidel † | 3,016 | 339,179 | |
Repligen † | 3,205 | 602,828 | |
Shockwave Medical † | 2,461 | 510,313 | |
Supernus Pharmaceuticals † | 13,697 | 442,687 | |
Ultragenyx Pharmaceutical † | 7,352 | 533,902 | |
11,136,413 | |||
Media — 1.26% | |||
IMAX † | 17,188 | 325,369 | |
Interpublic Group of Companies | 21,014 | 744,946 | |
1,070,315 | |||
Real Estate Investment Trusts — 7.22% | |||
American Assets Trust | 6,356 | 240,829 | |
Brixmor Property Group | 27,904 | 720,202 | |
Camden Property Trust | 5,780 | 960,636 | |
Cousins Properties | 15,257 | 614,704 | |
DiamondRock Hospitality † | 29,377 | 296,708 | |
First Industrial Realty Trust | 10,586 | 655,379 | |
Kite Realty Group Trust | 18,402 | 419,014 | |
Life Storage | 5,782 | 811,966 | |
LXP Industrial Trust | 32,941 | 517,174 | |
Pebblebrook Hotel Trust | 17,935 | 439,049 | |
Physicians Realty Trust | 27,475 | 481,911 | |
6,157,572 | |||
Technology — 14.58% | |||
Blackline † | 3,056 | 223,760 |
Number of shares | Value (US $) | ||
Common Stocks (continued) | |||
Technology (continued) | |||
Box Class A † | 9,367 | $ 272,205 | |
Consensus Cloud Solutions † | 2,119 | 127,415 | |
Dynatrace † | 7,967 | 375,246 | |
ExlService Holdings † | 9,456 | 1,354,761 | |
Guidewire Software † | 3,737 | 353,595 | |
Ichor Holdings † | 4,296 | 153,024 | |
II-VI † | 10,912 | 791,011 | |
MACOM Technology Solutions Holdings † | 7,284 | 436,093 | |
MaxLinear † | 9,437 | 550,649 | |
ON Semiconductor † | 13,283 | 831,649 | |
Paycom Software † | 482 | 166,955 | |
Procore Technologies † | 4,748 | 275,194 | |
PTC † | 8,323 | 896,554 | |
Q2 Holdings † | 6,176 | 380,750 | |
Rapid7 † | 6,102 | 678,786 | |
Semtech † | 6,259 | 433,999 | |
Silicon Laboratories † | 3,093 | 464,569 | |
Smartsheet Class A † | 7,162 | 392,334 | |
Sprout Social Class A † | 2,885 | 231,146 | |
SS&C Technologies Holdings | 5,308 | 398,206 | |
Tyler Technologies † | 378 | 168,168 | |
Upwork † | 3,887 | 90,334 | |
Varonis Systems † | 9,027 | 429,144 | |
WNS Holdings ADR † | 11,197 | 957,232 | |
Yelp † | 12,547 | 427,978 | |
Ziff Davis † | 5,860 | 567,131 | |
12,427,888 | |||
Transportation — 2.09% | |||
Kirby † | 10,127 | 731,068 | |
Knight-Swift Transportation Holdings | 12,045 | 607,791 | |
Werner Enterprises | 10,789 | 442,349 | |
1,781,208 | |||
Utilities — 1.98% | |||
Black Hills | 6,893 | 530,899 | |
NorthWestern | 8,361 | 505,757 | |
Spire | 9,059 | 650,074 | |
1,686,730 | |||
Total Common Stocks (cost $65,333,486) | 85,032,391 | ||
Short-Term Investments — 0.25% | |||
Money Market Mutual Funds — 0.25% | |||
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.23%) | 54,005 | 54,005 |
2 NQ-FL4 [3/22] 5/22 (2218530)
Number of shares | Value (US $) | ||
Short-Term Investments (continued) | |||
Money Market Mutual Funds (continued) | |||
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.12%) | 54,007 | $ 54,007 | |
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.25%) | 54,007 | 54,007 | |
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.23%) | 54,007 | 54,007 | |
Total Short-Term Investments (cost $216,026) | 216,026 | ||
Total Value of Securities—99.98% (cost $65,549,512) | 85,248,417 | ||
Receivables and Other Assets Net of Liabilities—0.02% | 13,636 | ||
Net Assets Applicable to 4,363,704 Shares Outstanding—100.00% | $85,262,053 |
† | Non-income producing security. |
Summary of abbreviations: |
ADR – American Depositary Receipt |
GS – Goldman Sachs |
NQ-FL4 [3/22] 5/22 (2218530) 3