NPORT-EX 2 ADJ1DEL022924.htm
Schedule of investments
Delaware Small Cap Value Fund  February 29, 2024 (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks — 99.02%
Basic Industry — 8.37%
Ashland       330,000 $   30,901,200
Avient     1,007,350     40,777,528
Berry Global Group       990,660     57,666,319
HB Fuller       724,550     57,623,462
Huntsman     1,465,600     37,519,360
Knife River †      454,400     33,666,496
Louisiana-Pacific       800,850     59,238,874
Ryerson Holding       816,750     25,792,965
Summit Materials Class A †    1,226,226    52,372,112
    395,558,316
Consumer Discretionary — 11.50%
Acushnet Holdings       728,100     46,904,202
Adient †    1,378,200     46,776,108
Choice Hotels International       222,100     24,861,874
Columbia Sportswear       437,500     36,176,875
Crocs †      282,600     34,547,850
Group 1 Automotive       178,810     48,394,926
KB Home       735,000     48,826,050
M/I Homes †      254,000     32,255,460
Meritage Homes       405,600     63,946,896
Oxford Industries       247,800     25,124,442
Patrick Industries        43,624      5,232,263
Steven Madden       938,225     40,174,795
Texas Roadhouse       294,350     43,967,060
UniFirst       275,270    46,443,554
    543,632,355
Consumer Staples — 2.65%
Flowers Foods     1,233,500     27,655,070
J & J Snack Foods       363,300     52,707,564
Performance Food Group †      582,822    44,743,245
    125,105,879
Energy — 9.13%
CNX Resources †      934,500     19,577,775
EnLink Midstream †    3,342,500     41,213,025
International Seaways       682,600     36,130,018
Liberty Energy     2,474,100     52,896,258
Magnolia Oil & Gas Class A     2,340,200     53,075,736
Matador Resources       960,750     60,671,362
Murphy Oil     1,132,300     44,918,341
Noble       835,950     34,951,070
NQ- 021 [0224] 0424 (3502077)    1

 

Schedule of investments
Delaware Small Cap Value Fund   (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks (continued)
Energy (continued)
Patterson-UTI Energy     3,420,000 $   39,569,400
PBF Energy Class A     1,046,000    48,848,200
    431,851,185
Financial Services — 25.00%
Assurant       322,900     58,590,205
Axis Capital Holdings     1,021,700     63,927,769
Bank of NT Butterfield & Son     1,040,800     31,109,512
Bread Financial Holdings       743,100     28,445,868
Cadence Bank     1,688,750     46,744,600
Columbia Banking System     2,374,761     42,983,174
Comerica       578,800     28,581,144
East West Bancorp     1,096,473     79,889,023
Essent Group       972,500     52,096,825
First Financial Bancorp     1,826,600     39,637,220
FNB     5,504,950     73,436,033
Hancock Whitney     1,796,450     78,325,220
Hanover Insurance Group       413,450     54,356,271
Hope Bancorp     3,345,540     36,700,574
Old National Bancorp     2,191,100     35,999,773
Sandy Spring Bancorp       886,725     19,490,216
Selective Insurance Group       376,606     39,347,795
Stewart Information Services       581,200     36,603,976
Stifel Financial     1,221,900     92,693,334
Synovus Financial     1,718,450     65,197,993
Valley National Bancorp     7,583,800     62,111,322
WaFd     1,208,400     32,916,816
Webster Financial     1,739,010    82,846,436
  1,182,031,099
Healthcare — 3.89%
Globus Medical Class A †      525,700     28,382,543
Integer Holdings †      540,800     59,644,832
Integra LifeSciences
Holdings † 		     496,200     18,314,742
Patterson Cos     1,151,900     31,204,971
Prestige Consumer Healthcare †      670,000    46,618,600
    184,165,688
Industrials — 17.10%
Atkore       582,400     98,658,560
CACI International Class A †      166,300     62,337,555
Concentrix       291,600     21,126,420
2    NQ- 021 [0224] 0424 (3502077)

 

(Unaudited)
    Number of
shares 		Value (US $)
Common Stocks (continued)
Industrials (continued)
Griffon       515,500 $   36,806,700
H&E Equipment Services       937,500     52,959,375
ITT       665,380     83,931,033
KBR       998,972     59,968,289
Leonardo DRS †    2,009,400     45,633,474
MasTec †      841,929     63,531,962
NEXTracker Class A †      534,944     30,085,251
Regal Rexnord       351,539     60,285,423
Terex       872,850     50,057,947
Timken       591,750     49,701,083
WESCO International       281,300     42,051,537
Zurn Elkay Water Solutions     1,609,800    51,111,150
    808,245,759
Real Estate Investment Trusts — 6.64%
Agree Realty       766,850     42,138,408
Apple Hospitality REIT     2,837,900     45,661,811
Community Healthcare Trust       583,179     15,827,478
Independence Realty Trust     2,494,390     36,517,870
Kite Realty Group Trust     1,917,564     41,055,045
LXP Industrial Trust     4,520,700     39,149,262
National Health Investors       766,450     44,047,881
Plymouth Industrial REIT        80,537      1,737,183
Tricon Residential     4,302,264    47,884,198
    314,019,136
Technology — 9.14%
Belden       579,700     49,378,846
Cirrus Logic †      565,700     51,942,574
Diodes †      591,400     40,203,372
Flex †    2,585,010     72,768,031
NetScout Systems †    1,387,906     30,048,165
Power Integrations       514,400     36,759,024
TD SYNNEX       359,600     37,362,440
TTM Technologies †    3,014,702     44,768,325
Viavi Solutions †    2,942,900     28,104,695
Vishay Intertechnology     1,887,000    41,042,250
    432,377,722
Transportation — 2.53%
Kirby †      486,800     42,702,096
Saia †       41,850     24,080,490
NQ- 021 [0224] 0424 (3502077)    3

 

Schedule of investments
Delaware Small Cap Value Fund   (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks (continued)
Transportation (continued)
Werner Enterprises     1,314,300 $   52,756,002
    119,538,588
Utilities — 3.07%
ALLETE       414,900     23,499,936
Black Hills       597,890     31,108,217
OGE Energy     1,408,600     46,357,026
Southwest Gas Holdings       649,100    44,236,165
    145,201,344
Total Common Stocks (cost $3,095,693,505) 4,681,727,071
Short-Term Investments — 1.07%
Money Market Mutual Funds — 1.07%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.20%)   12,626,881     12,626,881
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.20%)   12,626,880     12,626,880
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.32%)   12,626,880     12,626,880
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.22%)   12,626,879    12,626,879
Total Short-Term Investments (cost $50,507,520)    50,507,520
Total Value of Securities—100.09%
(cost $3,146,201,025) 		    4,732,234,591
Liabilities Net of Receivables and Other Assets—(0.09%)        (4,477,181)
Net Assets Applicable to 68,270,842 Shares Outstanding—100.00%     $4,727,757,410
† Non-income producing security.
Summary of abbreviations:
REIT – Real Estate Investment Trust
4    NQ- 021 [0224] 0424 (3502077)