Schedule of investments
Delaware Ivy Natural Resources Fund
December 31, 2023 (Unaudited)
Number of shares | Value (US $) | ||
Closed-Ended Trust — 2.78% | |||
Sprott Physical Uranium Trust † | 282,675 | $ 6,028,751 | |
Total Closed-Ended Trust (cost $3,169,263) | 6,028,751 |
Common Stocks — 97.49% | |||
Agricultural Products — 6.13% | |||
Archer-Daniels-Midland | 59,309 | 4,283,296 | |
Bunge Global | 42,764 | 4,317,026 | |
Darling Ingredients † | 94,461 | 4,707,936 | |
13,308,258 | |||
Aluminum — 2.67% | |||
Alcoa | 170,541 | 5,798,394 | |
5,798,394 | |||
Construction & Engineering — 2.86% | |||
Arcosa | 75,036 | 6,200,975 | |
6,200,975 | |||
Copper — 2.09% | |||
ERO Copper † | 287,280 | 4,542,105 | |
4,542,105 | |||
Diversified Metals & Mining — 13.50% | |||
Anglo American | 293,608 | 7,374,920 | |
China Metal Recycling Holdings =, † | 30,000,000 | 0 | |
Glencore | 1,842,359 | 11,086,621 | |
Hudbay Minerals | 1,083,560 | 5,981,251 | |
Lifezone Metals † | 95,010 | 858,891 | |
MP Materials † | 201,152 | 3,992,867 | |
29,294,550 | |||
Electrical Components & Equipment — 1.89% | |||
GrafTech International | 755,796 | 1,655,193 | |
Sunrun † | 124,181 | 2,437,673 | |
4,092,866 | |||
Fertilizers & Agricultural Chemicals — 7.87% | |||
CF Industries Holdings | 131,715 | 10,471,342 | |
Nutrien | 117,047 | 6,593,258 | |
17,064,600 | |||
Forest Products — 3.57% | |||
Louisiana-Pacific | 60,461 | 4,282,453 | |
West Fraser Timber | 40,358 | 3,452,687 | |
7,735,140 | |||
Gold — 15.44% | |||
Endeavour Mining | 220,049 | 4,928,129 | |
Kinross Gold | 1,287,290 | 7,788,105 | |
Newmont | 290,515 | 12,024,416 | |
Wheaton Precious Metals | 177,429 | 8,754,347 | |
33,494,997 | |||
Heavy Electrical Equipment — 1.01% | |||
Net Power † | 121,246 | 1,224,584 |
Number ofshares | Value (US $) | ||
Common Stocks (continued) | |||
Heavy Electrical Equipment (continued) | |||
NuScale Power † | 291,934 | $ 960,463 | |
2,185,047 | |||
Integrated Oil & Gas — 11.74% | |||
BP ADR | 174,010 | 6,159,954 | |
Shell | 401,538 | 13,161,462 | |
Unit | 142,280 | 6,143,650 | |
25,465,066 | |||
Oil & Gas Drilling — 1.48% | |||
Valaris † | 46,738 | 3,204,825 | |
3,204,825 | |||
Oil & Gas Equipment & Services — 2.47% | |||
Schlumberger | 102,824 | 5,350,961 | |
5,350,961 | |||
Oil & Gas Exploration & Production — 12.46% | |||
Chesapeake Energy | 99,319 | 7,641,604 | |
Chord Energy | 19,890 | 3,306,315 | |
Kimbell Royalty Partners | 403,506 | 6,072,765 | |
Parex Resources | 126,376 | 2,379,594 | |
Permian Resources | 283,735 | 3,858,796 | |
Tourmaline Oil | 84,084 | 3,781,416 | |
27,040,490 | |||
Oil & Gas Refining & Marketing — 4.30% | |||
Valero Energy | 71,830 | 9,337,900 | |
9,337,900 | |||
Oil & Gas Storage & Transportation — 0.47% | |||
Euronav | 58,270 | 1,027,305 | |
1,027,305 | |||
Paper Products — 1.53% | |||
Sylvamo | 67,626 | 3,321,113 | |
3,321,113 | |||
REIT Specialty — 3.53% | |||
Weyerhaeuser | 220,399 | 7,663,273 | |
7,663,273 | |||
Renewable Electricity — 0.54% | |||
Spruce Power Holding † | 263,485 | 1,164,604 | |
1,164,604 | |||
Specialty Chemicals — 1.94% | |||
Corteva | 87,822 | 4,208,430 | |
4,208,430 | |||
Total Common Stocks (cost $243,417,423) | 211,500,899 | ||
Short-Term Investments — 0.38% | |||
Money Market Mutual Funds — 0.38% | |||
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.26%) | 207,205 | 207,205 |
NQ- IV955 [1223] 0224 (3376093) 1
Schedule of investments
Delaware Ivy Natural Resources Fund (Unaudited)
Number ofshares | Value (US $) | ||
Short-Term Investments (continued) | |||
Money Market Mutual Funds (continued) | |||
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.25%) | 207,205 | $ 207,205 | |
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.37%) | 207,205 | 207,205 | |
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.27%) | 207,205 | 207,205 | |
Total Short-Term Investments (cost $828,820) | 828,820 | ||
Total Value of Securities—100.65% (cost $247,415,506) | 218,358,470 | ||
Liabilities Net of Receivables and Other Assets—(0.65%) | (1,408,968) | ||
Net Assets Applicable to 13,581,463 Shares Outstanding—100.00% | $216,949,502 |
† | Non-income producing security. |
= | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
Summary of abbreviations: |
ADR – American Depositary Receipt |
REIT – Real Estate Investment Trust |
2 NQ- IV955 [1223] 0224 (3376093)