NPORT-EX 2 AIV9630DEL063024.htm
Consolidated schedule of investments
Delaware Ivy Systematic Emerging Markets Equity Fund 
June 30, 2024 (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks — 97.69%♦
Communication Services — 9.93%
Baidu Class A †      266,950 $  2,914,245
Bharti Airtel       328,975    5,696,973
China United Network Communications Class A     1,392,900      900,989
Kuaishou Technology 144A #, †      246,800    1,458,541
NetEase     1,099,100   20,985,371
Sitios Latinoamerica †            1            0
Tencent Holdings       698,720   33,320,740
Tencent Music Entertainment Group ADR       128,377    1,803,697
Turkcell Iletisim Hizmetleri     2,263,001   6,971,663
   74,052,219
Consumer Discretionary — 15.47%
Alibaba Group Holding     1,332,900   12,033,404
ANTA Sports Products        49,600      476,370
Bajaj Auto       217,283   24,758,471
Geely Automobile Holdings     2,135,000    2,403,193
Hero MotoCorp        64,436    4,311,523
Hyundai Motor        33,653    7,212,230
JD.com Class A       382,161    5,055,318
Kia       290,673   27,304,046
Li Auto Class A †      170,400    1,534,005
Maruti Suzuki India        23,106    3,334,482
Meituan Class B 144A #, †      678,112    9,647,556
Naspers Class N        20,406    4,000,972
PDD Holdings ADR †       66,705    8,868,430
Tata Motors       159,222    1,889,851
Vipshop Holdings ADR       199,512    2,597,646
ZEEKR Intelligent Technology Holding ADR †           97       1,826
  115,429,323
Consumer Staples — 4.75%
Ambev     3,131,497    6,397,327
BIM Birlesik Magazalar       239,555    3,998,116
Fix Price Group GDR 144A #, =    1,489,220            0
Hindustan Unilever       101,548    3,011,642
ITC       826,760    4,212,745
Jiangsu Yanghe Brewery Joint-Stock Class A        45,900      510,039
Kweichow Moutai Class A        15,101    3,049,670
Shanxi Xinghuacun Fen Wine Factory Class A        49,715    1,442,861
Wal-Mart de Mexico     3,120,969   10,660,254
Wuliangye Yibin Class A       122,161   2,152,682
   35,435,336
Energy — 7.18%
China Petroleum & Chemical Class H     3,856,000    2,498,557
    Number of
shares 		Value (US $)
Common Stocks♦ (continued)
Energy (continued)
China Shenhua Energy Class A       479,592 $  2,928,620
China Shenhua Energy Class H     1,373,000    6,320,788
Coal India     1,800,225   10,214,678
LUKOIL PJSC =      276,569            0
Oil & Natural Gas       965,171    3,173,736
PetroChina Class H     5,788,000    5,855,411
Petroleo Brasileiro       318,171    2,294,888
Prio       369,976    2,902,175
Reliance Industries       137,663    5,168,584
Shaanxi Coal Industry Class A     1,611,000    5,713,623
Shanxi Coking Coal Energy Group Class A       480,700      682,079
Shanxi Lu'an Environmental Energy Development Class A     1,639,100    4,089,826
Turkiye Petrol Rafinerileri       330,361   1,674,328
   53,517,293
Financials — 20.36%
Agricultural Bank of China Class A     9,601,600    5,761,449
Axis Bank       530,355    8,047,149
Banco do Brasil      1,058,408    5,042,022
Bank Central Asia    26,697,700   16,181,659
Bank Mandiri Persero     7,118,200    2,673,400
Bank of China Class A     6,168,879    3,922,382
Bank of China Class H    32,497,000   16,021,597
Bank Rakyat Indonesia Persero    48,301,000   13,568,525
China Construction Bank Class A     3,020,500    3,076,183
China Construction Bank Class H    14,375,000   10,621,491
FirstRand     4,345,437   18,366,973
Grupo Financiero Banorte Class O       946,700    7,367,649
ICICI Bank     1,946,254   27,998,517
Industrial & Commercial Bank of China Class H    12,798,000    7,604,346
KB Financial Group        78,074    4,452,458
Saudi National Bank       120,000    1,173,899
Sberbank of Russia PJSC =, †    4,129,544           0
  151,879,699
Healthcare — 0.33%
Shenzhen Mindray Bio-Medical Electronics Class A        62,200   2,490,294
    2,490,294
Industrials — 4.67%
Bharat Electronics     1,243,727    4,562,508
COSCO SHIPPING Holdings Class A       515,300    1,098,533
Eva Airways     2,436,000    2,864,646
Evergreen Marine Taiwan       503,200    2,993,622
NQ- IV9630 [0624] 0824 (3775171)    1

 

Consolidated schedule of investments
Delaware Ivy Systematic Emerging Markets Equity Fund   (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks♦ (continued)
Industrials (continued)
Hindustan Aeronautics        54,863 $  3,463,499
KOC Holding     1,072,958    7,452,113
Larsen & Toubro       114,578    4,875,722
Weichai Power Class A     3,374,994   7,543,287
   34,853,930
Information Technology — 32.21%
Accton Technology       155,000    2,651,696
HCL Technologies       322,033    5,636,809
Hon Hai Precision Industry     1,940,000   12,797,189
Infosys       999,004   18,770,074
Lenovo Group     1,030,000    1,453,519
Lite-On Technology     1,363,000    4,453,493
MediaTek       478,879   20,665,832
Novatek Microelectronics       458,000    8,555,338
Quanta Computer       178,000    1,711,881
Realtek Semiconductor       669,000   11,259,467
Samsung Electronics       829,998   49,142,635
Taiwan Semiconductor Manufacturing     2,650,404   78,920,218
Tata Consultancy Services       391,009   18,306,794
Wiwynn        73,000   5,951,790
  240,276,735
Materials — 2.33%
Huaibei Mining Holdings Class A       451,300    1,039,734
NMDC     2,277,447    6,720,022
POSCO Holdings         8,130    2,143,981
Tata Steel     1,332,556    2,780,729
Vale       204,603    2,281,338
Yunnan Aluminium Class A       715,100    1,329,608
Zhongjin Gold Class A       539,100   1,098,077
   17,393,489
Real Estate — 0.10%
China Resources Land       206,500      702,080
Etalon Group GDR =, †    2,791,564           0
      702,080
Utilities — 0.36%
Cia de Saneamento Basico do Estado de Sao Paulo        94,211    1,264,158
GAIL India       541,546   1,425,830
    2,689,988
Total Common Stocks
(cost $556,807,006) 		728,720,386
 
Preferred Stock — 1.29%
Petroleo Brasileiro 14.18%  ω    1,406,105   9,570,901
Total Preferred Stock
(cost $5,807,816) 		  9,570,901
    Troy
Ounces 		Value (US $)
Bullion — 0.04%
Gold          342 $    315,578
Total Bullion
(cost $394,317) 		    315,578
    Number of
shares 		 
Short-Term Investments — 1.56%
Money Market Mutual Funds — 1.56%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.21%)    2,913,115    2,913,115
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.21%)    2,913,115    2,913,115
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.35%)    2,913,115    2,913,115
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.22%)    2,913,116   2,913,116
Total Short-Term Investments
(cost $11,652,461) 		 11,652,461
Total Value of Securities—100.58%
(cost $574,661,600) 		    750,259,326
Liabilities Net of Receivables and Other Assets—(0.58%)      (4,291,223)
Net Assets Applicable to 36,887,930 Shares Outstanding—100.00%     $745,968,103
♦ Narrow industries are utilized for compliance purposes for concentration whereas broad sectors are used for financial reporting.
† Non-income producing security.
# Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At June 30, 2024, the aggregate value of Rule 144A securities was $11,106,097, which represents 1.49% of the Fund’s net assets.
= The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security.
ω Perpetual security with no stated maturity date.
Summary of abbreviations: 
ADR – American Depositary Receipt
 
2    NQ- IV9630 [0624] 0824 (3775171)

 

(Unaudited)
Summary of abbreviations:  (continued)
GDR – Global Depositary Receipt
Summary of abbreviations:  (continued)
PJSC – Private Joint Stock Company
NQ- IV9630 [0624] 0824 (3775171)    3