Schedule of investments
Delaware Small Cap Value Fund | February 28, 2022 (Unaudited) |
Number of shares | Value (US $) | ||
Common Stock — 98.26%♦ | |||
Basic Industry — 8.42% | |||
Arconic † | 1,893,700 | $ 58,136,590 | |
Ashland Global Holdings | 429,200 | 39,606,576 | |
Avient | 1,029,700 | 53,945,983 | |
Berry Global Group † | 1,605,310 | 97,362,051 | |
HB Fuller | 885,500 | 60,541,635 | |
Huntsman | 2,208,000 | 89,291,520 | |
Louisiana-Pacific | 2,078,800 | 149,569,660 | |
Summit Materials Class A † | 1,164,400 | 36,352,568 | |
584,806,583 | |||
Consumer Discretionary — 10.44% | |||
Acushnet Holdings | 763,200 | 33,428,160 | |
Adient † | 1,345,700 | 60,220,075 | |
Barnes Group | 1,177,200 | 54,680,940 | |
Cable One | 19,580 | 28,055,203 | |
Choice Hotels International | 286,800 | 41,399,580 | |
Cracker Barrel Old Country Store | 382,000 | 51,291,140 | |
Denny's † | 1,182,200 | 18,702,404 | |
Group 1 Automotive | 316,500 | 57,580,845 | |
KB Home | 1,352,000 | 52,200,720 | |
Leggett & Platt | 278,900 | 10,341,612 | |
Meritage Homes † | 615,900 | 60,715,422 | |
Nexstar Media Group Class A | 280,700 | 51,943,535 | |
PROG Holdings † | 841,700 | 25,789,688 | |
Steven Madden | 968,925 | 41,334,340 | |
Texas Roadhouse | 387,550 | 36,782,371 | |
UniFirst | 330,400 | 59,885,000 | |
Wolverine World Wide | 1,775,480 | 40,889,304 | |
725,240,339 | |||
Consumer Staples — 3.19% | |||
J & J Snack Foods | 377,500 | 61,804,300 | |
Performance Food Group † | 1,221,522 | 68,454,093 | |
Scotts Miracle-Gro | 195,300 | 27,353,718 | |
Spectrum Brands Holdings | 692,050 | 64,208,399 | |
221,820,510 | |||
Energy — 7.69% | |||
CNX Resources † | 5,222,600 | 85,337,284 | |
Delek US Holdings † | 1,431,000 | 24,656,130 | |
Devon Energy | 2,391,802 | 142,431,809 | |
Dril-Quip † | 656,000 | 18,919,040 | |
Helix Energy Solutions Group † | 3,841,600 | 15,558,480 |
NQ-021 [2/22] 4/22 (2112896) 1
Schedule of investments
Delaware Small Cap Value Fund (Unaudited)
Number of shares | Value (US $) | ||
Common Stock♦ (continued) | |||
Energy (continued) | |||
Magnolia Oil & Gas Class A | 3,785,000 | $ 84,594,750 | |
Murphy Oil | 1,303,000 | 45,175,010 | |
Patterson-UTI Energy | 4,730,700 | 68,264,001 | |
Renewable Energy Group † | 793,985 | 48,830,078 | |
533,766,582 | |||
Financial Services — 29.05% | |||
American Equity Investment Life Holding | 2,665,300 | 100,455,157 | |
Bank of NT Butterfield & Son | 1,126,300 | 43,249,920 | |
East West Bancorp | 2,331,323 | 204,130,642 | |
Essent Group | 1,154,900 | 51,023,482 | |
First Financial Bancorp | 2,600,900 | 63,930,122 | |
First Interstate BancSystem Class A | 2,254,822 | 91,545,773 | |
FNB | 8,297,100 | 111,430,053 | |
Hancock Whitney | 2,703,800 | 150,547,584 | |
Hanover Insurance Group | 638,000 | 89,007,380 | |
Kemper | 642,700 | 34,345,888 | |
NBT Bancorp | 380,497 | 14,599,670 | |
Prosperity Bancshares | 710,000 | 52,866,600 | |
S&T Bancorp | 856,356 | 26,624,108 | |
Sandy Spring Bancorp | 801,400 | 37,737,926 | |
Selective Insurance Group | 1,147,606 | 95,469,343 | |
Stewart Information Services | 637,241 | 43,255,919 | |
Stifel Financial | 2,185,450 | 160,630,575 | |
Synovus Financial | 1,797,400 | 94,633,110 | |
Umpqua Holdings | 5,304,400 | 113,248,940 | |
Valley National Bancorp | 6,934,700 | 96,877,759 | |
Webster Financial | 3,257,660 | 196,143,709 | |
Western Alliance Bancorp | 1,556,800 | 145,934,432 | |
2,017,688,092 | |||
Healthcare — 3.92% | |||
Avanos Medical † | 1,146,648 | 40,579,873 | |
Integer Holdings † | 716,600 | 60,101,242 | |
Integra LifeSciences Holdings † | 976,600 | 65,490,796 | |
NuVasive † | 542,484 | 29,359,234 | |
Select Medical Holdings | 1,476,600 | 34,183,290 | |
Service Corp. International | 697,100 | 42,418,535 | |
272,132,970 |
2 NQ-021 [2/22] 4/22 (2112896)
(Unaudited)
Number of shares | Value (US $) | ||
Common Stock♦ (continued) | |||
Industrials — 11.86% | |||
Altra Industrial Motion | 1,528,643 | $ 64,921,468 | |
Atkore † | 1,031,100 | 104,873,181 | |
CACI International Class A † | 135,500 | 37,911,545 | |
Deluxe | 505,400 | 15,722,994 | |
H&E Equipment Services | 870,200 | 36,339,552 | |
ITT | 1,312,600 | 115,338,162 | |
KBR | 1,219,372 | 60,529,626 | |
MasTec † | 1,747,259 | 137,614,119 | |
Primoris Services | 1,348,100 | 35,549,397 | |
Regal Rexnord | 330,539 | 53,001,929 | |
WESCO International † | 933,500 | 113,634,955 | |
Zurn Water Solutions | 1,482,500 | 48,210,900 | |
823,647,828 | |||
Real Estate Investment Trusts — 8.07% | |||
Brandywine Realty Trust | 4,329,337 | 57,710,062 | |
Independence Realty Trust | 1,357,100 | 34,293,917 | |
Kite Realty Group Trust | 2,735,914 | 59,998,594 | |
Life Storage | 503,500 | 63,738,065 | |
LXP Industrial Trust | 4,373,500 | 67,614,310 | |
National Health Investors | 914,900 | 48,773,319 | |
Outfront Media | 3,122,000 | 83,357,400 | |
RPT Realty | 2,707,889 | 35,067,163 | |
Spirit Realty Capital | 1,680,300 | 77,915,511 | |
Summit Hotel Properties † | 3,199,900 | 31,647,011 | |
560,115,352 | |||
Technology — 10.31% | |||
Cirrus Logic † | 679,000 | 58,984,730 | |
Concentrix | 301,900 | 60,346,791 | |
Diodes † | 509,000 | 45,601,310 | |
Flex † | 4,671,010 | 77,024,955 | |
NCR † | 1,111,158 | 45,024,122 | |
NetScout Systems † | 1,216,506 | 37,869,832 | |
ON Semiconductor † | 1,020,800 | 63,912,288 | |
TD SYNNEX | 431,600 | 43,949,828 | |
Teradyne | 454,400 | 53,582,848 | |
Tower Semiconductor † | 2,180,200 | 102,142,370 | |
TTM Technologies † | 4,101,302 | 51,553,366 | |
Viavi Solutions † | 3,533,000 | 57,941,200 | |
Vishay Intertechnology | 957,000 | 18,364,830 | |
716,298,470 |
NQ-021 [2/22] 4/22 (2112896) 3
Schedule of investments
Delaware Small Cap Value Fund (Unaudited)
Number of shares | Value (US $) | ||
Common Stock♦ (continued) | |||
Transportation — 2.21% | |||
Kirby † | 723,900 | $ 47,162,085 | |
Saia † | 113,350 | 32,557,520 | |
SkyWest † | 326,100 | 9,166,671 | |
Werner Enterprises | 1,481,800 | 64,399,028 | |
153,285,304 | |||
Utilities — 3.10% | |||
ALLETE | 820,000 | 51,610,800 | |
Black Hills | 845,600 | 59,183,544 | |
South Jersey Industries | 1,632,000 | 55,373,760 | |
Southwest Gas Holdings | 692,400 | 49,118,856 | |
215,286,960 | |||
Total Common Stock (cost $4,241,796,234) | 6,824,088,990 | ||
Short-Term Investments — 1.70% | |||
Money Market Mutual Funds — 1.70% | |||
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.03%) | 29,606,552 | 29,606,552 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.01%) | 29,606,551 | 29,606,551 | |
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.03%) | 29,606,551 | 29,606,551 | |
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.03%) | 29,606,551 | 29,606,551 | |
Total Short-Term Investments (cost $118,426,205) | 118,426,205 | ||
Total Value of Securities—99.96% (cost $4,360,222,439) | 6,942,515,195 | ||
Receivables and Other Assets Net of Liabilities—0.04% | 2,575,405 | ||
Net Assets Applicable to 87,680,589 Shares Outstanding—100.00% | $6,945,090,600 |
♦ | Narrow industries are utilized for compliance purposes for diversification whereas broad sectors are used for financial reporting. |
† | Non-income producing security. |
Summary of abbreviations: |
GS – Goldman Sachs |
4 NQ-021 [2/22] 4/22 (2112896)