Schedule of investments
Delaware VIP® Trust — Delaware VIP Small Cap Value Series
September 30, 2023 (Unaudited)
Number of shares | Value (US $) | ||
Common Stocks — 97.30% | |||
Basic Industry — 7.42% | |||
Ashland | 119,000 | $ 9,719,920 | |
Avient | 359,950 | 12,713,434 | |
Berry Global Group | 338,760 | 20,972,632 | |
HB Fuller | 285,700 | 19,601,877 | |
Huntsman | 519,671 | 12,679,972 | |
Louisiana-Pacific | 287,305 | 15,879,347 | |
Ryerson Holding | 266,242 | 7,744,980 | |
Summit Materials Class A † | 419,146 | 13,052,207 | |
112,364,369 | |||
Consumer Discretionary — 11.08% | |||
Acushnet Holdings | 278,700 | 14,782,248 | |
Adient † | 402,000 | 14,753,400 | |
Barnes Group | 397,600 | 13,506,472 | |
Choice Hotels International | 91,400 | 11,197,414 | |
Columbia Sportswear | 180,600 | 13,382,460 | |
Group 1 Automotive | 67,150 | 18,043,876 | |
KB Home | 338,900 | 15,684,292 | |
Meritage Homes | 160,900 | 19,692,551 | |
Oxford Industries | 80,850 | 7,772,111 | |
Steven Madden | 367,050 | 11,661,178 | |
TEGNA | 59,377 | 865,123 | |
Texas Roadhouse | 118,450 | 11,383,045 | |
UniFirst | 92,660 | 15,104,507 | |
167,828,677 | |||
Consumer Staples — 3.94% | |||
Flowers Foods | 421,500 | 9,348,870 | |
Hostess Brands † | 553,300 | 18,430,423 | |
J & J Snack Foods | 123,500 | 20,210,775 | |
Performance Food Group † | 199,653 | 11,751,576 | |
59,741,644 | |||
Energy — 9.61% | |||
CNX Resources † | 456,250 | 10,302,125 | |
EnLink Midstream | 1,479,500 | 18,079,490 | |
Liberty Energy | 1,168,000 | 21,631,360 | |
Magnolia Oil & Gas Class A | 915,200 | 20,967,232 | |
Matador Resources | 326,320 | 19,409,514 | |
Murphy Oil | 492,950 | 22,355,282 | |
Patterson-UTI Energy | 1,221,500 | 16,905,560 | |
PBF Energy Class A | 297,900 | 15,946,587 | |
145,597,150 | |||
Financial Services — 22.73% | |||
Assurant | 130,130 | 18,684,065 | |
Axis Capital Holdings | 282,200 | 15,907,614 | |
Bank of NT Butterfield & Son | 345,200 | 9,348,016 | |
Bread Financial Holdings | 252,900 | 8,649,180 | |
Cadence Bank | 573,750 | 12,174,975 | |
Columbia Banking System | 816,333 | 16,571,560 | |
Comerica | 191,100 | 7,940,205 |
Number of shares | Value (US $) | ||
Common Stocks (continued) | |||
Financial Services (continued) | |||
East West Bancorp | 371,686 | $ 19,591,569 | |
Essent Group | 337,778 | 15,973,522 | |
First Financial Bancorp | 635,538 | 12,456,545 | |
First Interstate BancSystem Class A | 405,449 | 10,111,898 | |
FNB | 1,852,200 | 19,985,238 | |
Hancock Whitney | 607,650 | 22,476,973 | |
Hanover Insurance Group | 137,900 | 15,304,142 | |
Hope Bancorp | 1,122,470 | 9,933,859 | |
Sandy Spring Bancorp | 293,950 | 6,299,348 | |
Selective Insurance Group | 131,892 | 13,607,298 | |
Stewart Information Services | 251,800 | 11,028,840 | |
Stifel Financial | 423,688 | 26,031,391 | |
Synovus Financial | 578,250 | 16,075,350 | |
Valley National Bancorp | 2,575,600 | 22,047,136 | |
Washington Federal | 402,750 | 10,318,455 | |
Webster Financial | 592,383 | 23,878,959 | |
344,396,138 | |||
Healthcare — 3.61% | |||
Globus Medical Class A † | 174,000 | 8,639,100 | |
Integer Holdings † | 199,200 | 15,623,256 | |
Integra LifeSciences Holdings † | 319,800 | 12,213,162 | |
Patterson | 174,931 | 5,184,955 | |
Prestige Consumer Healthcare † | 228,350 | 13,059,336 | |
54,719,809 | |||
Industrials — 14.42% | |||
Atkore † | 203,633 | 30,380,007 | |
CACI International Class A † | 57,800 | 18,145,154 | |
Concentrix | 101,300 | 8,115,143 | |
H&E Equipment Services | 317,100 | 13,695,549 | |
ITT | 296,772 | 29,056,947 | |
KBR | 334,825 | 19,734,585 | |
MasTec † | 288,446 | 20,759,459 | |
Regal Rexnord | 100,590 | 14,372,299 | |
Terex | 302,800 | 17,447,336 | |
Timken | 201,450 | 14,804,561 | |
WESCO International | 92,850 | 13,353,687 | |
Zurn Elkay Water Solutions | 666,900 | 18,686,538 | |
218,551,265 | |||
Real Estate Investment Trusts — 7.17% | |||
Agree Realty | 205,400 | 11,346,296 | |
Apple Hospitality REIT | 961,000 | 14,741,740 | |
Independence Realty Trust | 853,370 | 12,006,916 | |
Kite Realty Group Trust | 566,273 | 12,129,568 | |
LXP Industrial Trust | 1,621,631 | 14,432,516 | |
National Health Investors | 223,900 | 11,499,504 | |
Outfront Media | 860,500 | 8,691,050 |
NQ-VIP-884 [0923] 1123 (3217037) 1
Schedule of investments
Delaware VIP® Trust — Delaware VIP Small Cap Value Series
Number of shares | Value (US $) | ||
Common Stocks (continued) | |||
Real Estate Investment Trusts (continued) | |||
Spirit Realty Capital | 383,750 | $ 12,867,137 | |
Tricon Residential | 1,465,100 | 10,841,740 | |
108,556,467 | |||
Technology — 11.22% | |||
Belden | 197,800 | 19,097,590 | |
Cirrus Logic † | 193,800 | 14,333,448 | |
Diodes † | 201,400 | 15,878,376 | |
Flex † | 880,266 | 23,749,577 | |
Leonardo DRS † | 670,500 | 11,197,350 | |
NCR † | 211,629 | 5,707,634 | |
NetScout Systems † | 407,963 | 11,431,123 | |
Power Integrations | 230,500 | 17,589,455 | |
TD SYNNEX | 116,000 | 11,583,760 | |
TTM Technologies † | 1,147,312 | 14,777,379 | |
Viavi Solutions † | 974,500 | 8,906,930 | |
Vishay Intertechnology | 636,500 | 15,734,280 | |
169,986,902 | |||
Transportation — 2.55% | |||
Kirby † | 165,000 | 13,662,000 | |
Saia † | 18,800 | 7,494,620 | |
Werner Enterprises | 449,900 | 17,523,605 | |
38,680,225 | |||
Utilities — 3.55% | |||
ALLETE | 258,490 | 13,648,272 | |
Black Hills | 297,789 | 15,065,145 | |
OGE Energy | 359,500 | 11,982,135 | |
Southwest Gas Holdings | 217,200 | 13,121,052 | |
53,816,604 | |||
Total Common Stocks (cost $1,145,786,030) | 1,474,239,250 | ||
Number of shares | Value (US $) | ||
Short-Term Investments — 2.63% | |||
Money Market Mutual Funds — 2.63% | |||
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.24%) | 9,968,939 | $ 9,968,939 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.23%) | 9,968,939 | 9,968,939 | |
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.37%) | 9,968,939 | 9,968,939 | |
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.27%) | 9,968,940 | 9,968,940 | |
Total Short-Term Investments (cost $39,875,757) | 39,875,757 | ||
Total Value of Securities—99.93% (cost $1,185,661,787) | 1,514,115,007 | ||
Receivables and Other Assets Net of Liabilities—0.07% | 998,909 | ||
Net Assets Applicable to 44,251,708 Shares Outstanding—100.00% | $1,515,113,916 |
† | Non-income producing security. |
Summary of abbreviations: |
REIT – Real Estate Investment Trust |
2 NQ-VIP-884 [0923] 1123 (3217037)