NPORT-EX 2 AIV0650DEL123123.htm
Schedule of investments
Delaware Ivy Smid Cap Core Fund 
December 31, 2023 (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks — 99.18%
Basic Materials — 7.78%
Beacon Roofing Supply †    50,022 $  4,352,914
Boise Cascade     38,206    4,942,328
Huntsman    168,925    4,245,085
Kaiser Aluminum     23,914    1,702,438
Minerals Technologies     55,005    3,922,407
Reliance Steel & Aluminum     15,544    4,347,346
Westrock     56,150   2,331,348
   25,843,866
Business Services — 4.98%
ABM Industries     50,411    2,259,925
Aramark     73,682    2,070,464
ASGN †    31,017    2,982,905
Casella Waste Systems Class A †    20,727    1,771,330
Clean Harbors †    16,089    2,807,691
Vestis     36,841      778,819
WillScot Mobile Mini Holdings †    86,632   3,855,124
   16,526,258
Capital Goods — 10.88%
Ameresco Class A †    33,821    1,071,111
Applied Industrial Technologies      6,525    1,126,802
Carlisle     10,840    3,386,741
Chart Industries †    12,526    1,707,670
Coherent †    53,593    2,332,903
Federal Signal     37,566    2,882,815
Gates Industrial †    69,598      934,005
Graco     29,047    2,520,118
Kadant      7,303    2,047,104
KBR     51,834    2,872,122
Lincoln Electric Holdings     19,987    4,346,373
Quanta Services      9,115    1,967,017
Tetra Tech     15,287    2,551,859
WESCO International     22,926    3,986,373
Zurn Elkay Water Solutions     81,424   2,394,680
   36,127,693
Consumer Discretionary — 5.37%
BJ's Wholesale Club Holdings †    38,153    2,543,279
Dick's Sporting Goods     28,532    4,192,777
Five Below †    21,737    4,633,459
Malibu Boats Class A †    43,796    2,400,897
Steven Madden     96,393   4,048,506
   17,818,918
Consumer Services — 2.36%
Brinker International †    47,043    2,031,317
Jack in the Box     15,786    1,288,611
Texas Roadhouse     21,571    2,636,623
Wendy's     95,830   1,866,769
    7,823,320
    Number of
shares 		Value (US $)
Common Stocks (continued)
Consumer Staples — 3.38%
Casey's General Stores     14,444 $  3,968,344
Helen of Troy †    12,521    1,512,662
J & J Snack Foods     16,398    2,740,762
YETI Holdings †    58,260   3,016,703
   11,238,471
Credit Cyclicals — 3.13%
BorgWarner     59,104    2,118,878
KB Home     31,918    1,993,598
La-Z-Boy     41,429    1,529,559
Taylor Morrison Home †    36,111    1,926,522
Toll Brothers     27,429   2,819,427
   10,387,984
Energy — 4.21%
Chesapeake Energy     64,628    4,972,478
Liberty Energy    286,758    5,201,790
Southwestern Energy †   583,619   3,822,705
   13,996,973
Financials — 13.40%
Axis Capital Holdings     51,366    2,844,135
Columbia Banking System    123,115    3,284,708
East West Bancorp     69,269    4,983,905
Essent Group     58,614    3,091,302
Hamilton Lane Class A     27,581    3,128,789
Kemper     66,502    3,236,652
Primerica     22,139    4,555,321
Reinsurance Group of America     24,068    3,893,721
SouthState     34,904    2,947,643
Stifel Financial     59,015    4,080,887
Valley National Bancorp    207,120    2,249,323
Webster Financial     77,881    3,953,240
WSFS Financial     49,171   2,258,424
   44,508,050
Healthcare — 14.17%
Amicus Therapeutics †   132,434    1,879,238
Apellis Pharmaceuticals †    40,979    2,453,003
Azenta †    31,788    2,070,670
Bio-Techne     33,169    2,559,320
Blueprint Medicines †    33,644    3,103,323
Catalent †    34,782    1,562,755
Encompass Health     37,556    2,505,736
Exact Sciences †    27,644    2,045,103
Halozyme Therapeutics †    60,937    2,252,232
ICON †     3,413      966,118
Insmed †    71,082    2,202,831
Inspire Medical Systems †     9,800    1,993,614
Intra-Cellular Therapies †    24,926    1,785,200
Lantheus Holdings †    30,104    1,866,448
Ligand Pharmaceuticals †    22,823    1,630,019
NQ- IV065 [1223] 0224 (3377207)    1

 

Schedule of investments
Delaware Ivy Smid Cap Core Fund   (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks (continued)
Healthcare (continued)
Natera †    43,380 $  2,717,323
Neurocrine Biosciences †    29,832    3,930,664
OmniAb 12.5 =, †    10,854            0
OmniAb 15 =, †    10,854            0
QuidelOrtho †    16,892    1,244,940
Repligen †    14,790    2,659,242
Shockwave Medical †    11,383    2,169,145
Supernus Pharmaceuticals †    46,836    1,355,434
Travere Therapeutics †    71,304      641,023
Ultragenyx Pharmaceutical †    30,801   1,472,904
   47,066,285
Media — 1.72%
IMAX †    98,315    1,476,691
Interpublic Group     84,680    2,763,955
Nexstar Media Group      9,473   1,484,893
    5,725,539
Real Estate Investment Trusts — 6.91%
Brixmor Property Group    142,405    3,313,764
Camden Property Trust     33,782    3,354,215
EastGroup Properties     15,106    2,772,555
First Industrial Realty Trust     79,421    4,183,104
Jones Lang LaSalle †    11,128    2,101,745
Kite Realty Group Trust    129,405    2,958,198
National Storage Affiliates Trust     62,820    2,605,146
Physicians Realty Trust    125,235   1,666,878
   22,955,605
Technology — 15.68%
Atkore †     8,060    1,289,600
Box Class A †    46,717    1,196,422
DoubleVerify Holdings †    62,128    2,285,068
Dynatrace †    52,852    2,890,476
ExlService Holdings †   106,887    3,297,464
Guidewire Software †    25,715    2,803,964
MACOM Technology Solutions Holdings †    34,863    3,240,516
MaxLinear †    62,943    1,496,155
Procore Technologies †    32,378    2,241,205
PTC †    30,642    5,361,124
Q2 Holdings †    52,125    2,262,746
Rapid7 †    24,089    1,375,482
Regal Rexnord     15,523    2,297,715
Semtech †    72,485    1,588,146
Silicon Laboratories †    16,499    2,182,323
Smartsheet Class A †    53,479    2,557,366
Sprout Social Class A †    21,815    1,340,314
SPS Commerce †     4,429      858,517
Tyler Technologies †     1,707      713,731
Varonis Systems †    66,818    3,025,519
    Number of
shares 		Value (US $)
Common Stocks (continued)
Technology (continued)
WNS Holdings ADR †    45,270 $  2,861,064
Workiva †    15,031    1,526,097
Yelp †    50,852    2,407,334
Ziff Davis †    14,486     973,314
   52,071,662
Transportation — 3.59%
Allegiant Travel     14,497    1,197,597
ArcBest      5,201      625,212
Kirby †    42,663    3,348,192
Knight-Swift Transportation Holdings     52,871    3,048,013
Saia †     1,346      589,844
Werner Enterprises     56,498    2,393,821
XPO †     8,022     702,647
   11,905,326
Utilities — 1.62%
Black Hills     47,712    2,574,062
Spire     45,193   2,817,332
    5,391,394
Total Common Stocks
(cost $290,502,377) 		329,387,344
 
Short-Term Investments — 0.96%
Money Market Mutual Funds — 0.96%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.26%)   802,235      802,235
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.25%)   802,234      802,234
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.37%)   802,234      802,234
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.27%)   802,233     802,233
Total Short-Term Investments
(cost $3,208,936) 		  3,208,936
Total Value of Securities—100.14%
(cost $293,711,313) 		    332,596,280
Liabilities Net of Receivables and Other Assets—(0.14%)        (481,544)
Net Assets Applicable to 20,895,247 Shares Outstanding—100.00%     $332,114,736
    
 
2    NQ- IV065 [1223] 0224 (3377207)

 

(Unaudited)
† 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- IV065 [1223] 0224 (3377207)    3