Schedule of investments
Delaware Ivy Value Fund
June 30, 2024 (Unaudited)
| Number of shares | Value (US $) | ||
| Common Stocks — 99.04% | |||
| Communication Services — 6.16% | |||
| Verizon Communications | 303,839 | $ 12,530,321 | |
| Walt Disney | 122,208 | 12,134,032 | |
| 24,664,353 | |||
| Consumer Discretionary — 9.11% | |||
| Genuine Parts | 84,212 | 11,648,204 | |
| Lowe's | 55,067 | 12,140,071 | |
| TJX | 115,545 | 12,721,504 | |
| 36,509,779 | |||
| Consumer Staples — 8.21% | |||
| Conagra Brands | 368,178 | 10,463,619 | |
| Dollar Tree † | 95,485 | 10,194,933 | |
| Hershey | 66,582 | 12,239,769 | |
| 32,898,321 | |||
| Energy — 6.38% | |||
| Chevron | 80,900 | 12,654,378 | |
| Exxon Mobil | 112,100 | 12,904,952 | |
| 25,559,330 | |||
| Financials — 15.75% | |||
| Allstate | 77,303 | 12,342,197 | |
| Fidelity National Information Services | 166,003 | 12,509,986 | |
| Travelers | 60,209 | 12,242,898 | |
| Truist Financial | 338,033 | 13,132,582 | |
| US Bancorp | 324,092 | 12,866,453 | |
| 63,094,116 | |||
| Healthcare — 16.71% | |||
| Baxter International | 310,959 | 10,401,579 | |
| Cigna Group | 37,477 | 12,388,772 | |
| CVS Health | 191,581 | 11,314,774 | |
| Hologic † | 143,770 | 10,674,922 | |
| Johnson & Johnson | 70,672 | 10,329,419 | |
| Merck & Co. | 95,736 | 11,852,117 | |
| 66,961,583 | |||
| Industrials — 12.12% | |||
| Dover | 70,410 | 12,705,485 | |
| Honeywell International | 58,280 | 12,445,111 | |
| Jacobs Solutions | 86,623 | 12,102,099 | |
| Northrop Grumman | 25,900 | 11,291,105 | |
| 48,543,800 | |||
| Information Technology — 15.27% | |||
| Cisco Systems | 241,019 | 11,450,813 | |
| Cognizant Technology Solutions Class A | 185,973 | 12,646,164 | |
| Number of shares | Value (US $) | ||
| Common Stocks (continued) | |||
| Information Technology (continued) | |||
| Motorola Solutions | 32,646 | $ 12,602,988 | |
| Oracle | 91,677 | 12,944,792 | |
| Teledyne Technologies † | 29,757 | 11,545,121 | |
| 61,189,878 | |||
| Materials — 3.16% | |||
| DuPont de Nemours | 157,140 | 12,648,199 | |
| 12,648,199 | |||
| Real Estate — 3.18% | |||
| Equity Residential | 183,596 | 12,730,547 | |
| 12,730,547 | |||
| Utilities — 2.99% | |||
| Duke Energy | 119,600 | 11,987,508 | |
| 11,987,508 | |||
| Total Common Stocks (cost $365,028,830) | 396,787,414 | ||
| Short-Term Investments — 0.69% | |||
| Money Market Mutual Funds — 0.69% | |||
| BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.21%) | 694,091 | 694,091 | |
| Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.21%) | 694,091 | 694,091 | |
| Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.35%) | 694,091 | 694,091 | |
| Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.22%) | 694,092 | 694,092 | |
| Total Short-Term Investments (cost $2,776,365) | 2,776,365 | ||
| Total Value of Securities—99.73% (cost $367,805,195) | 399,563,779 | ||
| Receivables and Other Assets Net of Liabilities—0.27% | 1,097,441 | ||
| Net Assets Applicable to 23,682,315 Shares Outstanding—100.00% | $400,661,220 | ||
| † | Non-income producing security. |
NQ- IV066 [0624] 0824 (3775151) 1