NPORT-EX 2 AIV0870DEL033123.htm
Schedule of investments
Delaware Ivy VIP Smid Cap Core 
March 31, 2023 (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks — 98.10%
Basic Materials — 8.15%
Beacon Roofing Supply †    26,366 $  1,551,639
Boise Cascade     21,695    1,372,209
Huntsman     95,699    2,618,325
Kaiser Aluminum     13,764    1,027,207
Minerals Technologies     31,175    1,883,594
Reliance Steel & Aluminum     15,160    3,892,178
Westrock     32,578      992,652
Worthington Industries     29,228   1,889,590
   15,227,394
Business Services — 5.44%
ABM Industries     28,629    1,286,587
Aramark     55,478    1,986,112
ASGN †    19,483    1,610,660
Casella Waste Systems Class A †    11,760      972,082
Clean Harbors †    10,339    1,473,928
WillScot Mobile Mini Holdings †    60,173   2,820,910
   10,150,279
Capital Goods — 11.43%
Ameresco Class A †    15,259      751,048
Barnes Group     11,467      461,891
Carlisle      6,263    1,415,876
Chart Industries †     3,691      462,851
Coherent †    29,851    1,136,726
Federal Signal     21,331    1,156,354
Gates Industrial †    39,514      548,850
Graco     17,838    1,302,352
Jacobs Solutions      7,808      917,518
Kadant      4,154      866,192
KBR     25,425    1,399,646
Lincoln Electric Holdings     11,352    1,919,623
MasTec †    16,753    1,582,153
Quanta Services     18,598    3,099,171
Tetra Tech      8,833    1,297,656
WESCO International     13,240    2,046,110
Zurn Elkay Water Solutions     45,933     981,129
   21,345,146
Consumer Discretionary — 6.19%
BJ's Wholesale Club Holdings †    21,667    1,648,209
Dick's Sporting Goods     19,675    2,791,686
Five Below †    11,481    2,364,742
Malibu Boats Class A †    25,301    1,428,241
Steven Madden     56,874    2,047,464
Tractor Supply      5,464   1,284,258
   11,564,600
Consumer Services — 2.42%
Brinker International †    26,357    1,001,566
Jack in the Box      9,190      804,952
Texas Roadhouse     14,105    1,524,186
    Number of
shares 		Value (US $)
Common Stocks (continued)
Consumer Services (continued)
Wendy's     54,418 $  1,185,224
    4,515,928
Consumer Staples — 3.02%
Casey's General Stores     11,313    2,448,812
Helen of Troy †     4,517      429,883
J & J Snack Foods      9,512    1,409,868
YETI Holdings †    33,767   1,350,680
    5,639,243
Credit Cyclicals — 3.69%
BorgWarner     34,917    1,714,774
Dana     43,260      651,063
KB Home     18,126      728,303
La-Z-Boy     29,547      859,227
Taylor Morrison Home †    26,147    1,000,384
Toll Brothers     32,222   1,934,286
    6,888,037
Energy — 4.44%
Chesapeake Energy     34,315    2,609,313
Diamondback Energy     17,783    2,403,728
Liberty Energy    256,003   3,279,398
    8,292,439
Financials — 13.00%
Axis Capital Holdings     30,268    1,650,211
Columbia Banking System     62,656    1,342,091
East West Bancorp     40,576    2,251,968
Essent Group     39,076    1,564,994
Hamilton Lane Class A     15,953    1,180,203
Kemper     30,550    1,669,863
NMI Holdings Class A †    38,214      853,319
Primerica     17,895    3,082,235
Raymond James Financial     15,815    1,475,065
Reinsurance Group of America     14,180    1,882,537
SouthState     19,815    1,412,017
Stifel Financial     32,452    1,917,589
Valley National Bancorp    121,324    1,121,034
Webster Financial     45,381    1,788,919
WSFS Financial     29,022   1,091,517
   24,283,562
Healthcare — 12.47%
Amicus Therapeutics †    79,750      884,428
Azenta †    17,625      786,428
Bio-Techne     19,136    1,419,700
Blueprint Medicines †    19,100      859,309
Catalent †    17,834    1,171,872
Encompass Health     26,203    1,417,582
Exact Sciences †    14,588      989,212
Halozyme Therapeutics †    39,135    1,494,566
ICON †     6,758    1,443,441
NQ-IV087 [3/23] 5/23 (2913006)    1
Schedule of investments
Delaware Ivy VIP Smid Cap Core   (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks (continued)
Healthcare (continued)
Insmed †    42,812 $    729,945
Inspire Medical Systems †     7,497    1,754,823
Ligand Pharmaceuticals †    12,374      910,231
Natera †    26,124    1,450,405
Neurocrine Biosciences †    17,341    1,755,256
OmniAb †    52,049      191,540
OmniAb 12.5 =, †     3,816            0
OmniAb 15 =, †     3,816            0
QuidelOrtho †     9,881      880,298
Repligen †     9,354    1,574,839
Shockwave Medical †     7,707    1,671,109
Supernus Pharmaceuticals †    33,049    1,197,365
Ultragenyx Pharmaceutical †    17,487     701,229
   23,283,578
Media — 2.07%
IMAX †    57,331    1,099,609
Interpublic Group     48,829    1,818,392
Nexstar Media Group      5,473     944,968
    3,862,969
Real Estate Investment Trusts — 7.04%
Brixmor Property Group     82,725    1,780,242
Camden Property Trust     14,722    1,543,455
DiamondRock Hospitality     73,585      598,246
EastGroup Properties      7,725    1,277,097
First Industrial Realty Trust     36,559    1,944,939
Kite Realty Group Trust     76,082    1,591,635
Life Storage     19,967    2,617,474
Pebblebrook Hotel Trust     52,755      740,680
Physicians Realty Trust     71,111   1,061,687
   13,155,455
Technology — 13.57%
Blackline †     6,963      467,565
Box Class A †    17,471      468,048
Dynatrace †    24,602    1,040,665
ExlService Holdings †    15,754    2,549,470
Guidewire Software †    12,025      986,651
MACOM Technology Solutions Holdings †    19,790    1,401,924
MaxLinear †    32,733    1,152,529
ON Semiconductor †    11,852      975,657
Paycom Software †     1,596      485,200
Procore Technologies †    15,714      984,168
PTC †    18,127    2,324,425
Q2 Holdings †    24,721      608,631
Rapid7 †    13,678      627,957
Regal Rexnord      8,968    1,262,067
Semtech †    37,032      893,952
Silicon Laboratories †     7,773    1,360,975
    Number of
shares 		Value (US $)
Common Stocks (continued)
Technology (continued)
Smartsheet Class A †    21,438 $  1,024,736
Sprout Social Class A †     8,755      533,004
SS&C Technologies Holdings     11,006      621,509
Tyler Technologies †       963      341,518
Varonis Systems †    31,449      817,989
WNS Holdings ADR †    25,491    2,374,996
Yelp †    28,876      886,493
Ziff Davis †    14,841   1,158,340
   25,348,469
Transportation — 3.38%
Allegiant Travel †     8,235      757,455
Kirby †    24,226    1,688,552
Knight-Swift Transportation Holdings     34,392    1,945,900
Werner Enterprises     42,380   1,927,866
    6,319,773
Utilities — 1.79%
Black Hills     26,636    1,680,732
Spire     23,752   1,665,965
    3,346,697
Total Common Stocks
(cost $193,607,519) 		183,223,569
 
Short-Term Investments — 2.02%
Money Market Mutual Funds — 2.02%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.72%)   944,528      944,528
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.72%)   944,529      944,529
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.84%)   944,529      944,529
 
2    NQ-IV087 [3/23] 5/23 (2913006)
(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 4.73%)   944,529 $    944,529
Total Short-Term Investments
(cost $3,778,115) 		  3,778,115
Total Value of Securities—100.12%
(cost $197,385,634) 		    $187,001,684
Liabilities Net of Receivables and Other Assets—(0.12%)        (223,958)
Net Assets Applicable to 16,283,175 Shares Outstanding—100.00%     $186,777,726
    
† 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-IV087 [3/23] 5/23 (2913006)    3