Schedule of investments
Delaware Ivy International Value Fund
December 31, 2022 (Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ – 99.18% | |||
Denmark − 4.87% | |||
Novo Nordisk Class B | 39,955 | $ 5,394,972 | |
5,394,972 | |||
Finland − 0.02% | |||
Nokia | 3,500 | 16,211 | |
16,211 | |||
France − 16.84% | |||
Air Liquide | 37,190 | 5,270,849 | |
Amundi 144A # | 250 | 14,183 | |
Bouygues | 400 | 12,006 | |
Danone | 76,160 | 4,013,499 | |
Euroapi † | 9 | 133 | |
Orange | 170,970 | 1,698,561 | |
Publicis Groupe | 37,290 | 2,371,873 | |
Rexel | 610 | 12,041 | |
Sanofi | 100 | 9,617 | |
Schneider Electric | 100 | 13,993 | |
Sodexo | 54,390 | 5,209,684 | |
Technip Energies ADR | 1,000 | 15,640 | |
18,642,079 | |||
Germany − 12.98% | |||
adidas AG | 32,350 | 4,413,820 | |
BASF | 310 | 15,394 | |
Covestro 144A # | 200 | 7,825 | |
Fresenius Medical Care AG & Co. | 75,130 | 2,458,528 | |
Knorr-Bremse | 45,460 | 2,483,742 | |
SAP | 48,125 | 4,965,570 | |
Siemens | 130 | 18,040 | |
14,362,919 | |||
Hong Kong − 0.01% | |||
Galaxy Entertainment Group | 2,000 | 13,222 | |
13,222 | |||
Japan − 10.64% | |||
Asahi Group Holdings | 38,000 | 1,192,639 | |
Bridgestone | 232 | 8,293 | |
Fukuoka Financial Group | 700 | 16,028 | |
Honda Motor | 600 | 13,862 | |
Iida Group Holdings | 900 | 13,722 | |
Isuzu Motors | 600 | 7,073 | |
Kao | 105,600 | 4,228,345 | |
KDDI | 55,600 | 1,686,980 | |
Komatsu | 300 | 6,574 | |
Lawson | 200 | 7,665 | |
Makita | 118,400 | 2,778,665 | |
Mitsui & Co. | 400 | 11,743 | |
Panasonic Holdings | 1,000 | 8,462 | |
Seven & i Holdings | 41,200 | 1,776,836 | |
Sumitomo Mitsui Financial Group | 400 | 16,141 |
Number of shares | Value (US $) | ||
Common Stocks (continued) | |||
Japan (continued) | |||
Suzuki Motor | 200 | $ 6,509 | |
11,779,537 | |||
Netherlands − 6.10% | |||
Koninklijke Ahold Delhaize | 234,860 | 6,747,734 | |
6,747,734 | |||
Spain − 5.32% | |||
Amadeus IT Group † | 113,360 | 5,891,359 | |
5,891,359 | |||
Sweden − 10.53% | |||
Essity Class B | 177,570 | 4,650,750 | |
H & M Hennes & Mauritz Class B * | 180,600 | 1,942,581 | |
Securitas Class B | 607,649 | 5,063,912 | |
11,657,243 | |||
Switzerland − 13.74% | |||
Nestle | 55,060 | 6,379,850 | |
Novartis | 200 | 18,080 | |
Roche Holding | 12,810 | 4,024,555 | |
Swatch Group | 16,820 | 4,784,146 | |
15,206,631 | |||
United Kingdom − 18.13% | |||
Diageo | 147,520 | 6,509,567 | |
Intertek Group | 68,610 | 3,346,044 | |
J Sainsbury | 5,790 | 15,239 | |
John Wood Group † | 8,270 | 13,512 | |
Smith & Nephew | 396,230 | 5,314,752 | |
Tesco | 5,630 | 15,260 | |
Travis Perkins | 1,020 | 10,967 | |
Unilever | 95,690 | 4,837,923 | |
Vodafone Group | 8,750 | 8,911 | |
20,072,175 | |||
Total Common Stocks (cost $126,474,525) | 109,784,082 | ||
Exchange-Traded Funds – 0.16% | |||
iShares MSCI EAFE ETF * | 360 | 23,630 | |
iShares Trust iShares ESG Aware MSCI EAFE ETF | 2,020 | 132,795 | |
Vanguard FTSE Developed Markets ETF | 550 | 23,084 | |
Total Exchange-Traded Funds (cost $153,774) | 179,509 | ||
Total Value of Securities Before Securities Lending Collateral−99.34% (cost $126,628,299) | 109,963,591 |
NQ-IV951 [12/22] 2/23 (2747681) 1
Schedule of investments
Delaware Ivy International Value Fund (Unaudited)
Number ofshares | Value (US $) | ||
Securities Lending Collateral – 0.60% | |||
Money Market Mutual Fund − 0.60% | |||
Dreyfus Institutional Preference Government Money Market Fund - Institutional Shares (seven-day effective yield 4.31%) | 671,665 | $ 671,665 | |
Total Securities Lending Collateral (cost $671,665) | 671,665 | ||
Total Value of Securities−99.94% (cost $127,299,964) | 110,635,256■ |
Obligation to Return Securities Lending Collateral — (0.61%) | (671,665) | ||
Receivables and Other Assets Net of Liabilities — 0.66% | 733,701 | ||
Net Assets Applicable to 8,138,224 Shares Outstanding — 100.00% | $110,697,292 |
Δ | Securities have been classified by country of risk. |
# | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At December 31, 2022, the aggregate value of Rule 144A securities was $22,008, which represents 0.02% of the Fund's net assets. |
† | Non-income producing security. |
* | Fully or partially on loan. |
■ | Includes $630,015 of securities loaned. |
The following foreign currency exchange contracts were outstanding at December 31, 2022:
Foreign Currency Exchange Contracts | ||||||||||
Counterparty | Currency to Receive (Deliver) | In Exchange For | Settlement Date | Unrealized Depreciation | ||||||
BNYM | CHF | (172,551) | USD | 186,372 | 1/3/23 | $(320) |
The use of foreign currency exchange contracts involves elements of market risk and risks in excess of the amounts disclosed in the financial statements. The foreign currency exchange contracts presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.
Summary of abbreviations: |
ADR – American Depositary Receipt |
AG – Aktiengesellschaft |
BNYM – Bank of New York Mellon |
EAFE – Europe, Australasia, and Far East |
ESG – Environmental, Social, and Governance |
ETF – Exchange-Traded Fund |
FTSE – Financial Times Stock Exchange |
MSCI – Morgan Stanley Capital International |
Summary of currencies: |
CHF – Swiss Franc |
USD – US Dollar |
2 NQ-IV951 [12/22] 2/23 (2747681)