Schedule of investments
Delaware VIP® Trust — Delaware VIP Small Cap Value Series
September 30, 2022 (Unaudited)
Number of shares | Value (US $) | ||
Common Stocks — 96.79%♦ | |||
Basic Industry — 7.73% | |||
Arconic † | 449,600 | $ 7,661,184 | |
Ashland | 101,700 | 9,658,449 | |
Avient | 243,900 | 7,390,170 | |
Berry Global Group † | 384,900 | 17,909,397 | |
HB Fuller | 210,600 | 12,657,060 | |
Huntsman | 523,000 | 12,834,420 | |
Louisiana-Pacific | 465,700 | 23,839,183 | |
Summit Materials Class A † | 280,300 | 6,715,988 | |
98,665,851 | |||
Consumer Discretionary — 10.77% | |||
Acushnet Holdings | 218,800 | 9,515,612 | |
Adient † | 370,400 | 10,278,600 | |
Barnes Group | 323,100 | 9,331,128 | |
Cable One | 4,650 | 3,966,683 | |
Choice Hotels International | 76,200 | 8,345,424 | |
Columbia Sportswear | 146,400 | 9,852,720 | |
Cracker Barrel Old Country Store | 89,800 | 8,313,684 | |
Group 1 Automotive | 75,300 | 10,758,111 | |
KB Home | 318,700 | 8,260,704 | |
Meritage Homes † | 144,900 | 10,182,123 | |
Nexstar Media Group | 67,100 | 11,195,635 | |
Steven Madden | 273,050 | 7,282,243 | |
Texas Roadhouse | 130,800 | 11,413,608 | |
UniFirst | 79,000 | 13,290,170 | |
Wolverine World Wide | 360,675 | 5,550,788 | |
137,537,233 | |||
Consumer Staples — 1.96% | |||
J & J Snack Foods | 105,700 | 13,684,979 | |
Performance Food Group † | 262,937 | 11,293,144 | |
24,978,123 | |||
Energy — 6.45% | |||
CNX Resources † | 1,085,150 | 16,852,380 | |
Delek US Holdings | 282,700 | 7,672,478 | |
Magnolia Oil & Gas Class A | 876,400 | 17,361,484 | |
Matador Resources | 271,520 | 13,282,758 | |
Murphy Oil | 432,900 | 15,225,093 | |
Patterson-UTI Energy | 1,025,600 | 11,979,008 | |
82,373,201 | |||
Financial Services — 29.26% | |||
American Equity Investment Life Holding | 513,400 | 19,144,686 | |
Bank of NT Butterfield & Son | 272,500 | 8,845,350 | |
East West Bancorp | 537,636 | 36,096,881 | |
Essent Group | 275,600 | 9,610,172 | |
First Financial Bancorp | 625,900 | 13,193,972 | |
First Interstate BancSystem Class A | 346,664 | 13,987,892 |
Number of shares | Value (US $) | ||
Common Stocks♦ (continued) | |||
Financial Services (continued) | |||
FNB | 2,010,100 | $ 23,317,160 | |
Hancock Whitney | 644,200 | 29,510,802 | |
Hanover Insurance Group | 142,300 | 18,234,322 | |
Hope Bancorp | 718,910 | 9,087,022 | |
Kemper | 154,100 | 6,358,166 | |
Metropolitan Bank Holding † | 121,431 | 7,815,299 | |
Sandy Spring Bancorp | 193,400 | 6,819,284 | |
Selective Insurance Group | 235,690 | 19,185,166 | |
Stewart Information Services | 197,800 | 8,631,992 | |
Stifel Financial | 518,550 | 26,917,931 | |
Synovus Financial | 471,200 | 17,674,712 | |
Umpqua Holdings | 1,261,600 | 21,560,744 | |
Valley National Bancorp | 1,788,700 | 19,317,960 | |
Webster Financial | 750,784 | 33,935,437 | |
Western Alliance Bancorp | 371,000 | 24,389,540 | |
373,634,490 | |||
Healthcare — 4.59% | |||
Avanos Medical † | 253,900 | 5,529,942 | |
Integer Holdings † | 170,300 | 10,597,769 | |
Integra LifeSciences Holdings † | 289,900 | 12,280,164 | |
NuVasive † | 188,000 | 8,236,280 | |
Select Medical Holdings | 274,600 | 6,068,660 | |
Service Corp. International | 166,600 | 9,619,484 | |
Syneos Health † | 133,400 | 6,289,810 | |
58,622,109 | |||
Industrials — 12.24% | |||
Altra Industrial Motion | 430,770 | 14,482,487 | |
Atkore † | 229,200 | 17,834,052 | |
CACI International Class A † | 49,400 | 12,896,364 | |
H&E Equipment Services | 207,300 | 5,874,882 | |
ITT | 261,280 | 17,072,035 | |
KBR | 286,593 | 12,386,550 | |
MasTec † | 375,656 | 23,854,156 | |
Regal Rexnord | 100,252 | 14,071,371 | |
WESCO International † | 224,300 | 26,776,934 | |
Zurn Elkay Water Solutions | 448,900 | 10,998,050 | |
156,246,881 | |||
Real Estate Investment Trusts — 7.60% | |||
Brandywine Realty Trust | 528,133 | 3,564,898 | |
Independence Realty Trust | 479,300 | 8,018,689 | |
Kite Realty Group Trust | 650,118 | 11,195,032 | |
Life Storage | 120,150 | 13,307,814 | |
LXP Industrial Trust | 1,039,300 | 9,519,988 | |
National Health Investors | 218,300 | 12,340,499 | |
Outfront Media | 736,400 | 11,185,916 | |
RPT Realty | 647,500 | 4,895,100 | |
Spirit Realty Capital | 399,400 | 14,442,304 |
NQ-VIP [9/22] 11/22 (2605483) 1
Schedule of investments
Delaware VIP® Trust — Delaware VIP Small Cap Value Series
Number of shares | Value (US $) | ||
Common Stocks♦ (continued) | |||
Real Estate Investment Trusts (continued) | |||
Summit Hotel Properties | 835,000 | $ 5,611,200 | |
Tricon Residential | 348,761 | 3,016,783 | |
97,098,223 | |||
Technology — 9.94% | |||
Cirrus Logic † | 170,300 | 11,716,640 | |
Concentrix | 72,800 | 8,126,664 | |
Diodes † | 163,700 | 10,625,767 | |
Flex † | 1,115,557 | 18,585,180 | |
NCR † | 264,921 | 5,036,148 | |
NetScout Systems † | 308,563 | 9,664,193 | |
Power Integrations | 158,500 | 10,194,720 | |
TD SYNNEX | 102,800 | 8,346,332 | |
Tower Semiconductor † | 340,900 | 14,979,146 | |
TTM Technologies † | 975,212 | 12,853,294 | |
Viavi Solutions † | 832,500 | 10,864,125 | |
Vishay Intertechnology | 333,300 | 5,929,407 | |
126,921,616 | |||
Transportation — 2.21% | |||
Kirby † | 160,000 | 9,723,200 | |
Saia † | 27,050 | 5,139,500 | |
Werner Enterprises | 354,900 | 13,344,240 | |
28,206,940 | |||
Utilities — 4.04% | |||
ALLETE | 194,000 | 9,709,700 | |
Black Hills | 264,670 | 17,926,099 | |
OGE Energy | 341,900 | 12,465,674 | |
Southwest Gas Holdings | 165,400 | 11,536,650 | |
51,638,123 | |||
Total Common Stocks (cost $962,795,574) | 1,235,922,790 | ||
Number of shares | Value (US $) | ||
Short-Term Investments — 3.18% | |||
Money Market Mutual Funds — 3.18% | |||
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 2.76%) | 10,165,751 | $ 10,165,751 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 2.74%) | 10,165,752 | 10,165,752 | |
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 2.98%) | 10,165,752 | 10,165,752 | |
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 2.80%) | 10,165,751 | 10,165,751 | |
Total Short-Term Investments (cost $40,663,006) | 40,663,006 | ||
Total Value of Securities—99.97% (cost $1,003,458,580) | 1,276,585,796 | ||
Receivables and Other Assets Net of Liabilities—0.03% | 331,661 | ||
Net Assets Applicable to 38,701,004 Shares Outstanding—100.00% | $1,276,917,457 |
♦ | Narrow industries are utilized for compliance purposes for concentration whereas broad sectors are used for financial reporting. |
† | Non-income producing security. |
2 NQ-VIP [9/22] 11/22 (2605483)