Schedule of investments
Delaware Ivy Smid Cap Core Fund
December 31, 2022 (Unaudited)
Number of shares | Value (US $) | ||
Common Stocks — 99.29% | |||
Basic Materials — 8.04% | |||
Beacon Roofing Supply † | 60,817 | $ 3,210,529 | |
Boise Cascade | 46,450 | 3,189,721 | |
Huntsman | 198,564 | 5,456,539 | |
Kaiser Aluminum | 32,598 | 2,476,144 | |
Minerals Technologies | 66,874 | 4,060,589 | |
Reliance Steel & Aluminum | 29,113 | 5,893,636 | |
Westrock | 68,268 | 2,400,303 | |
Worthington Industries | 71,921 | 3,575,193 | |
30,262,654 | |||
Business Services — 5.31% | |||
ABM Industries | 61,289 | 2,722,457 | |
Aramark | 114,016 | 4,713,422 | |
ASGN † | 37,711 | 3,072,692 | |
Casella Waste Systems Class A † | 25,201 | 1,998,691 | |
Clean Harbors † | 23,856 | 2,722,447 | |
WillScot Mobile Mini Holdings † | 105,327 | 4,757,621 | |
19,987,330 | |||
Capital Goods — 11.09% | |||
Ameresco Class A *, † | 32,672 | 1,866,878 | |
Barnes Group | 24,562 | 1,003,358 | |
Carlisle | 11,580 | 2,728,827 | |
Federal Signal | 45,673 | 2,122,424 | |
Gates Industrial † | 84,618 | 965,491 | |
Graco | 35,315 | 2,375,287 | |
Jacobs Solutions | 16,351 | 1,963,265 | |
Kadant | 8,878 | 1,576,999 | |
KBR | 54,456 | 2,875,277 | |
Lincoln Electric Holdings | 24,299 | 3,510,963 | |
MasTec † | 34,853 | 2,974,006 | |
Oshkosh | 30,552 | 2,694,381 | |
Quanta Services | 39,123 | 5,575,028 | |
Regal Rexnord | 16,386 | 1,965,992 | |
Tetra Tech | 15,909 | 2,309,828 | |
WESCO International † | 27,872 | 3,489,574 | |
Zurn Elkay Water Solutions | 84,293 | 1,782,797 | |
41,780,375 | |||
Consumer Discretionary — 5.86% | |||
BJ's Wholesale Club Holdings † | 46,386 | 3,068,898 | |
Dick's Sporting Goods | 40,621 | 4,886,300 | |
Five Below † | 28,008 | 4,953,775 | |
Malibu Boats Class A † | 53,248 | 2,838,119 | |
Steven Madden | 117,195 | 3,745,552 | |
Tractor Supply | 11,461 | 2,578,381 | |
22,071,025 | |||
Consumer Services — 2.17% | |||
Brinker International † | 57,194 | 1,825,061 | |
Jack in the Box | 19,193 | 1,309,538 | |
Texas Roadhouse | 26,226 | 2,385,255 |
Number of shares | Value (US $) | ||
Common Stocks (continued) | |||
Consumer Services (continued) | |||
Wendy's | 116,510 | $ 2,636,621 | |
8,156,475 | |||
Consumer Staples — 3.30% | |||
Casey's General Stores | 24,245 | 5,439,366 | |
Helen of Troy † | 9,673 | 1,072,832 | |
J & J Snack Foods | 19,938 | 2,984,918 | |
YETI Holdings † | 70,832 | 2,926,070 | |
12,423,186 | |||
Credit Cyclicals — 3.12% | |||
BorgWarner | 61,533 | 2,476,703 | |
Dana | 99,800 | 1,509,974 | |
KB Home | 38,806 | 1,235,971 | |
La-Z-Boy | 61,197 | 1,396,515 | |
Taylor Morrison Home † | 55,985 | 1,699,145 | |
Toll Brothers | 68,992 | 3,444,081 | |
11,762,389 | |||
Energy — 4.97% | |||
Chesapeake Energy * | 71,367 | 6,734,904 | |
Diamondback Energy | 28,024 | 3,833,123 | |
Liberty Energy | 507,931 | 8,131,975 | |
18,700,002 | |||
Financials — 15.62% | |||
Axis Capital Holdings | 77,065 | 4,174,611 | |
Comerica | 45,515 | 3,042,678 | |
East West Bancorp | 77,510 | 5,107,909 | |
Essent Group | 83,671 | 3,253,129 | |
Hamilton Lane Class A | 33,535 | 2,142,216 | |
Kemper | 63,408 | 3,119,674 | |
NMI Holdings Class A † | 81,841 | 1,710,477 | |
Primerica | 37,328 | 5,293,857 | |
Raymond James Financial | 27,924 | 2,983,679 | |
Reinsurance Group of America | 36,592 | 5,199,357 | |
SouthState | 42,435 | 3,240,337 | |
Stifel Financial | 71,752 | 4,188,164 | |
Umpqua Holdings | 179,598 | 3,205,824 | |
Valley National Bancorp | 242,614 | 2,743,964 | |
Webster Financial | 94,688 | 4,482,530 | |
Western Alliance Bancorp | 37,190 | 2,215,036 | |
WSFS Financial | 59,781 | 2,710,471 | |
58,813,913 | |||
Healthcare — 13.26% | |||
Amicus Therapeutics † | 151,232 | 1,846,543 | |
Azenta | 38,647 | 2,250,028 | |
Bio-Techne | 40,326 | 3,342,219 | |
Blueprint Medicines † | 40,904 | 1,792,004 | |
Catalent † | 49,212 | 2,215,032 | |
Encompass Health | 55,197 | 3,301,333 | |
Exact Sciences † | 30,246 | 1,497,479 |
NQ-IV065 [12/22] 2/23 (2747696) 1
Schedule of investments
Delaware Ivy Smid Cap Core Fund (Unaudited)
Number of shares | Value (US $) | ||
Common Stocks (continued) | |||
Healthcare (continued) | |||
Halozyme Therapeutics *, † | 81,834 | $ 4,656,355 | |
ICON † | 14,233 | 2,764,760 | |
Insmed † | 86,012 | 1,718,520 | |
Inspire Medical Systems † | 15,573 | 3,922,527 | |
Ligand Pharmaceuticals † | 25,731 | 1,718,831 | |
Natera † | 48,138 | 1,933,703 | |
Neurocrine Biosciences † | 36,268 | 4,331,850 | |
OmniAb † | 136,840 | 492,623 | |
OmniAb 12.5 =, † | 10,854 | 0 | |
OmniAb 15 =, † | 10,854 | 0 | |
QuidelOrtho † | 20,537 | 1,759,405 | |
Repligen † | 19,532 | 3,306,963 | |
Shockwave Medical † | 16,133 | 3,317,106 | |
Supernus Pharmaceuticals † | 56,941 | 2,031,085 | |
Ultragenyx Pharmaceutical † | 37,448 | 1,734,966 | |
49,933,332 | |||
Media — 1.83% | |||
IMAX † | 98,956 | 1,450,695 | |
Interpublic Group | 102,954 | 3,429,398 | |
Nexstar Media Group | 11,518 | 2,015,995 | |
6,896,088 | |||
Real Estate Investment Trusts — 6.54% | |||
Brixmor Property Group | 173,136 | 3,924,993 | |
Camden Property Trust | 31,509 | 3,525,227 | |
DiamondRock Hospitality | 157,564 | 1,290,449 | |
First Industrial Realty Trust | 76,517 | 3,692,710 | |
Kite Realty Group Trust | 157,330 | 3,311,797 | |
Life Storage | 35,575 | 3,504,138 | |
LXP Industrial Trust | 168,724 | 1,690,614 | |
Pebblebrook Hotel Trust | 110,353 | 1,477,627 | |
Physicians Realty Trust | 152,262 | 2,203,231 | |
24,620,786 | |||
Technology — 13.08% | |||
Blackline † | 14,908 | 1,002,861 | |
Box Class A † | 37,408 | 1,164,511 | |
Coherent † | 65,158 | 2,287,046 | |
Dynatrace † | 51,394 | 1,968,390 | |
ExlService Holdings † | 32,785 | 5,554,763 | |
Guidewire Software † | 25,107 | 1,570,694 | |
MACOM Technology Solutions Holdings † | 42,386 | 2,669,470 | |
MaxLinear † | 65,565 | 2,225,932 | |
ON Semiconductor † | 47,660 | 2,972,554 | |
Paycom Software † | 3,423 | 1,062,191 | |
Procore Technologies † | 32,932 | 1,553,732 | |
PTC † | 38,810 | 4,658,752 | |
Q2 Holdings † | 52,342 | 1,406,430 | |
Rapid7 † | 29,287 | 995,172 |
Number of shares | Value (US $) | ||
Common Stocks (continued) | |||
Technology (continued) | |||
Semtech † | 39,460 | $ 1,132,107 | |
Silicon Laboratories † | 16,441 | 2,230,551 | |
Smartsheet Class A † | 44,592 | 1,755,141 | |
Sprout Social Class A † | 18,691 | 1,055,294 | |
SS&C Technologies Holdings | 23,567 | 1,226,898 | |
Tyler Technologies † | 2,074 | 668,678 | |
Varonis Systems † | 65,784 | 1,574,869 | |
WNS Holdings ADR † | 53,796 | 4,303,142 | |
Yelp † | 61,827 | 1,690,350 | |
Ziff Davis † | 31,787 | 2,514,352 | |
49,243,880 | |||
Transportation — 3.16% | |||
Allegiant Travel † | 17,625 | 1,198,323 | |
Kirby † | 51,871 | 3,337,899 | |
Knight-Swift Transportation Holdings | 72,010 | 3,774,044 | |
Werner Enterprises * | 89,480 | 3,602,465 | |
11,912,731 | |||
Utilities — 1.94% | |||
Black Hills | 55,600 | 3,910,904 | |
Spire | 49,571 | 3,413,459 | |
7,324,363 | |||
Total Common Stocks (cost $388,211,506) | 373,888,529 | ||
Short-Term Investments — 0.91% | |||
Money Market Mutual Funds — 0.91% | |||
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.03%) | 859,480 | 859,480 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.06%) | 859,481 | 859,481 | |
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.23%) | 859,481 | 859,481 |
2 NQ-IV065 [12/22] 2/23 (2747696)
(Unaudited)
Number of shares | Value (US $) | ||
Short-Term Investments (continued) | |||
Money Market Mutual Funds (continued) | |||
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.11%) | 859,480 | $ 859,480 | |
Total Short-Term Investments (cost $3,437,922) | 3,437,922 | ||
Total Value of Securities—100.20% (cost $391,649,428) | 377,326,451■ | ||
Liabilities Net of Receivables and Other Assets—(0.20%) | (748,103) | ||
Net Assets Applicable to 27,286,060 Shares Outstanding—100.00% | $376,578,348 |
† | Non-income producing security. |
* | Fully or partially on loan. |
= | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
■ | Includes $14,465,069 of securities loaned for which the counterparty pledged additional non-cash collateral valued at $14,905,965. |
Summary of abbreviations: |
ADR – American Depositary Receipt |
NQ-IV065 [12/22] 2/23 (2747696) 3