Schedule of investments
Delaware Ivy Core Equity Fund
December 31, 2023 (Unaudited)
| Number of shares | Value (US $) | ||
| Common Stocks — 98.19%♦ | |||
| Communication Services — 7.74% | |||
| Alphabet Class A † | 1,171,593 | $ 163,659,826 | |
| Meta Platforms Class A † | 152,701 | 54,050,046 | |
| Take-Two Interactive Software † | 293,665 | 47,265,382 | |
| 264,975,254 | |||
| Consumer Discretionary — 7.66% | |||
| Amazon.com † | 784,491 | 119,195,563 | |
| Aptiv † | 609,619 | 54,695,017 | |
| AutoZone † | 24,453 | 63,225,921 | |
| Home Depot | 73,104 | 25,334,191 | |
| 262,450,692 | |||
| Consumer Staples — 4.30% | |||
| Costco Wholesale | 149,860 | 98,919,589 | |
| Procter & Gamble | 329,384 | 48,267,931 | |
| 147,187,520 | |||
| Energy — 2.43% | |||
| ConocoPhillips | 542,515 | 62,969,716 | |
| Schlumberger | 392,534 | 20,427,470 | |
| 83,397,186 | |||
| Financials — 22.33% | |||
| Allstate | 385,584 | 53,974,048 | |
| American Express | 266,515 | 49,928,920 | |
| Aon Class A | 186,568 | 54,295,019 | |
| Blackstone | 369,664 | 48,396,411 | |
| Capital One Financial | 542,976 | 71,195,013 | |
| CME Group | 225,885 | 47,571,381 | |
| Discover Financial Services | 553,917 | 62,260,271 | |
| Fiserv † | 594,775 | 79,009,911 | |
| JPMorgan Chase & Co. | 291,167 | 49,527,507 | |
| KKR & Co. | 1,189,291 | 98,532,759 | |
| Mastercard Class A | 147,427 | 62,879,090 | |
| Morgan Stanley | 463,402 | 43,212,237 | |
| Progressive | 275,799 | 43,929,265 | |
| 764,711,832 | |||
| Healthcare — 12.23% | |||
| Abbott Laboratories | 451,933 | 49,744,265 | |
| Biogen † | 60,582 | 15,676,804 | |
| Danaher | 222,321 | 51,431,740 | |
| HCA Healthcare | 348,509 | 94,334,416 | |
| UnitedHealth Group | 313,191 | 164,885,666 | |
| Vertex Pharmaceuticals † | 104,876 | 42,672,996 | |
| 418,745,887 | |||
| Industrials — 6.57% | |||
| Airbus ADR | 2,400,673 | 92,593,958 | |
| Howmet Aerospace | 1,117,092 | 60,457,019 | |
| United Rentals | 125,427 | 71,922,350 | |
| 224,973,327 | |||
| Number of shares | Value (US $) | ||
| Common Stocks♦ (continued) | |||
| Information Technology — 28.97% | |||
| Apple | 691,822 | $ 133,196,490 | |
| Applied Materials | 438,370 | 71,046,626 | |
| Intuit | 74,937 | 46,837,873 | |
| Microchip Technology | 482,399 | 43,502,742 | |
| Microsoft | 830,190 | 312,184,648 | |
| NVIDIA | 155,169 | 76,842,792 | |
| Salesforce † | 256,171 | 67,408,837 | |
| Seagate Technology Holdings | 248,682 | 21,229,982 | |
| TE Connectivity | 714,663 | 100,410,152 | |
| VeriSign † | 295,113 | 60,781,473 | |
| Zebra Technologies Class A † | 213,953 | 58,479,773 | |
| 991,921,388 | |||
| Materials — 5.23% | |||
| Crown Holdings | 426,513 | 39,277,582 | |
| Linde | 195,338 | 80,227,270 | |
| Sherwin-Williams | 190,778 | 59,503,658 | |
| 179,008,510 | |||
| Utilities — 0.73% | |||
| NextEra Energy | 409,734 | 24,887,243 | |
| 24,887,243 | |||
| Total Common Stocks (cost $1,884,888,407) | 3,362,258,839 | ||
| Short-Term Investments — 1.86% | |||
| Money Market Mutual Funds — 1.86% | |||
| BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.26%) | 15,917,951 | 15,917,951 | |
| Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.25%) | 15,917,949 | 15,917,949 | |
| Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.37%) | 15,917,951 | 15,917,951 | |
NQ- IV001 [1223] 0224 (3377181) 1
Schedule of investments
Delaware Ivy Core Equity Fund (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 5.27%) | 15,917,951 | $ 15,917,951 | |
| Total Short-Term Investments (cost $63,671,802) | 63,671,802 | ||
| Total Value of Securities—100.05% (cost $1,948,560,209) | 3,425,930,641 | ||
| Liabilities Net of Receivables and Other Assets—(0.05%) | (1,811,707) | ||
| Net Assets Applicable to 216,318,032 Shares Outstanding—100.00% | $3,424,118,934 | ||
| ♦ | Narrow industries are utilized for compliance purposes for concentration whereas broad sectors are used for financial reporting. |
| † | Non-income producing security. |
| Summary of abbreviations: |
| ADR – American Depositary Receipt |
2 NQ- IV001 [1223] 0224 (3377181)