NPORT-EX 2 ANS1DEL103149.htm
Schedule of investments
Delaware Small Cap Core Fund  August 31, 2023 (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks — 96.66%
Basic Materials — 7.06%
Balchem        73,138 $   10,275,889
Boise Cascade       950,213    103,924,796
Huntsman     1,151,054     32,079,875
Kaiser Aluminum       556,492     42,248,873
Minerals Technologies     1,438,310     87,880,741
Quaker Chemical       268,270     47,612,559
Summit Materials Class A †    2,897,021    108,377,556
Worthington Industries     1,095,678    82,471,683
    514,871,972
Business Services — 3.57%
ABM Industries     1,420,790     64,532,282
ASGN †      965,545     79,329,177
BrightView Holdings †    2,687,290     22,250,761
Casella Waste Systems Class A †      864,498     68,096,507
WillScot Mobile Mini Holdings †      635,631    26,073,584
    260,282,311
Capital Goods — 9.94%
Ameresco Class A †      920,898     40,049,854
Applied Industrial Technologies       697,620    107,691,599
Barnes Group       602,875     23,692,988
Chart Industries †      258,609     46,699,613
Coherent †      555,206     20,892,402
Columbus McKinnon     1,314,236     49,507,270
ESCO Technologies       419,353     44,874,965
Federal Signal     1,885,727    114,935,061
Kadant       357,789     78,620,555
KBR       598,742     36,834,608
MYR Group †      559,732     79,521,125
WESCO International       155,770     25,211,374
Zurn Elkay Water Solutions     1,898,424    56,231,319
    724,762,733
Communications Services — 0.29%
ATN International       595,934    21,376,153
     21,376,153
Consumer Discretionary — 2.58%
Hibbett       471,146     21,818,771
Malibu Boats Class A †    1,073,396     52,124,110
Sonic Automotive Class A       467,252     24,913,877
NQ- NS [0823] 1023 (3151872)    1
Schedule of investments
Delaware Small Cap Core Fund   (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks (continued)
Consumer Discretionary (continued)
Steven Madden     2,585,106 $   89,186,157
    188,042,915
Consumer Services — 2.12%
Brinker International †      762,824     24,967,230
Chuy's Holdings †      777,433     29,620,197
Jack in the Box       357,431     28,726,730
Texas Roadhouse       640,291     66,654,293
Wendy's       238,490     4,719,717
    154,688,167
Consumer Staples — 3.43%
Helen of Troy †      344,342     42,326,518
J & J Snack Foods       534,061     86,587,310
Prestige Consumer Healthcare †    1,679,696     97,976,668
YETI Holdings †      468,697    23,411,415
    250,301,911
Credit Cyclicals — 3.67%
Dana     2,974,485     47,918,953
KB Home     1,383,376     70,275,501
La-Z-Boy     1,353,041     41,741,315
Taylor Morrison Home †    2,265,718   107,395,033
    267,330,802
Energy — 6.13%
Earthstone Energy Class A †    2,453,066     49,993,485
Magnolia Oil & Gas Class A     1,907,684     43,495,195
NexTier Oilfield Solutions †    5,216,441     55,346,439
Patterson-UTI Energy     6,870,633     97,150,751
Permian Resources     6,547,484     92,843,323
SM Energy     1,219,200     51,584,352
Southwestern Energy †    8,397,227    56,933,199
    447,346,744
Financials — 14.08%
BRP Group Class A †    1,912,218     50,845,877
City Holding       440,288     40,224,712
Enterprise Financial Services       685,065     26,518,866
Essent Group     1,559,171     78,301,568
First Bancorp      1,007,493     29,862,093
First Financial Bancorp     1,799,098     37,385,256
First Interstate BancSystem Class A     1,650,271     42,758,522
Focus Financial Partners Class A †      273,804     14,511,612
2    NQ- NS [0823] 1023 (3151872)
(Unaudited)
    Number of
shares 		Value (US $)
Common Stocks (continued)
Financials (continued)
Hamilton Lane Class A       932,361 $   86,513,777
Independent Bank       699,869     37,806,923
Independent Bank Group       606,917     25,611,897
NMI Holdings Class A †    3,067,153     87,781,919
Old National Bancorp     4,185,950     63,877,597
Pacific Premier Bancorp     1,631,707     37,561,895
PJT Partners Class A       503,705     39,787,658
Selective Insurance Group     1,029,328    102,119,631
SouthState       675,095     48,809,368
United Community Banks     1,680,717     45,379,359
Valley National Bancorp     4,830,364     44,342,741
WesBanco     1,439,477     36,505,137
WSFS Financial     1,292,963    50,813,446
  1,027,319,854
Healthcare — 16.09%
Agios Pharmaceuticals †    1,530,639     41,985,428
Amicus Therapeutics †    5,321,992     68,227,938
Apellis Pharmaceuticals †      753,839     31,819,544
Artivion †    2,341,597     39,619,821
AtriCure †    1,179,928     53,273,749
Azenta †      771,683     43,546,072
Blueprint Medicines †    1,159,821     57,828,675
CONMED       579,403     64,580,258
Halozyme Therapeutics †    1,803,318     76,749,214
Insmed †    2,614,501     57,231,427
Inspire Medical Systems †      132,770     30,122,858
Intra-Cellular Therapies †      897,916     49,852,296
Lantheus Holdings †      760,884     52,074,901
Ligand Pharmaceuticals †      669,881     44,058,073
Merit Medical Systems †    1,043,412     68,113,935
NeoGenomics †    2,228,818     33,499,135
OmniAb †    2,968,868     17,219,434
OmniAb 12.5 =, †      221,566              0
OmniAb 15 =, †      221,566              0
Omnicell †      604,281     34,359,418
Pacific Biosciences of California †    3,454,473     38,966,455
PTC Therapeutics †    1,339,220     52,899,190
Shockwave Medical †      178,532     39,346,668
Supernus Pharmaceuticals †    2,040,618     64,973,277
TransMedics Group †      962,333     63,157,915
NQ- NS [0823] 1023 (3151872)    3
Schedule of investments
Delaware Small Cap Core Fund   (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks (continued)
Healthcare (continued)
Travere Therapeutics †    3,483,957 $   49,750,906
  1,173,256,587
Media — 0.59%
IMAX †    2,259,574    43,225,651
     43,225,651
Real Estate Investment Trusts — 6.61%
Armada Hoffler Properties     2,924,056     33,304,998
DiamondRock Hospitality     5,484,512     44,205,167
Four Corners Property Trust     2,049,200     51,557,872
Independence Realty Trust     3,850,174     64,798,428
Kite Realty Group Trust     3,462,695     78,153,026
LXP Industrial Trust     5,164,311     50,713,534
Pebblebrook Hotel Trust     2,567,670     37,154,185
Phillips Edison & Co.     1,262,402     42,744,932
Physicians Realty Trust     4,205,330     58,496,140
RPT Realty     1,868,501    21,188,801
    482,317,083
Technology — 15.36%
Atkore †      248,354     38,239,065
Box Class A †    1,966,051     52,061,031
ExlService Holdings †    2,852,871     83,389,419
Ichor Holdings †    1,060,969     38,863,294
Instructure Holdings †    1,512,278     39,183,123
MACOM Technology Solutions Holdings †      729,517     61,687,958
MaxLinear †    1,831,856     43,048,616
Progress Software       656,393     39,934,950
Q2 Holdings †    1,635,317     56,271,258
Rapid7 †    1,121,062     56,490,314
Regal Rexnord       195,726     31,744,800
Semtech †    1,526,943     39,929,559
Silicon Laboratories †      527,343     71,117,477
Sprout Social Class A †      842,911     45,129,455
SPS Commerce †      398,819     74,232,181
Varonis Systems †    2,008,180     64,121,187
Verint Systems †    1,474,705     47,765,695
WNS Holdings ADR †      844,891     55,213,627
Workiva †      526,497     58,888,689
Yelp †    1,460,955     62,601,922
Ziff Davis †      911,909    60,778,735
  1,120,692,355
4    NQ- NS [0823] 1023 (3151872)
(Unaudited)
    Number of
shares 		Value (US $)
Common Stocks (continued)
Transportation — 3.26%
Allegiant Travel       381,015 $   33,849,373
ArcBest        65,663      6,933,356
Hub Group Class A †      988,703     77,158,382
Sun Country Airlines Holdings †    3,092,870     46,052,834
Werner Enterprises     1,778,743    74,013,496
    238,007,441
Utilities — 1.88%
Black Hills       702,480     38,636,400
NorthWestern       942,482     47,501,093
Spire       875,269    51,124,462
    137,261,955
Total Common Stocks (cost $6,105,995,529) 7,051,084,634
Short-Term Investments — 3.70%
Money Market Mutual Funds — 3.70%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.22%)   67,419,587     67,419,587
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.21%)   67,419,586     67,419,586
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.36%)   67,419,586     67,419,586
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.25%)   67,419,587    67,419,587
Total Short-Term Investments (cost $269,678,346)   269,678,346
Total Value of Securities—100.36%
(cost $6,375,673,875) 		    7,320,762,980
Liabilities Net of Receivables and Other Assets—(0.36%)       (26,427,570)
Net Assets Applicable to 270,122,499 Shares Outstanding—100.00%     $7,294,335,410
† 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
NQ- NS [0823] 1023 (3151872)    5