Schedule of investments

Delaware Smid Cap Growth Fund June 30, 2020 (Unaudited)

	Number of shares		Value (US $)
Common Stock – 99.93% ✧
Communication Services - 6.94%
Bandwidth Class A †	272,760	$	34,640,520
Live Nation Entertainment †	6,235		276,398
Match Group †	1,122,636		120,178,184
Take-Two Interactive Software †	239,080		33,368,396
			188,463,498
Consumer Discretionary - 20.40%
Bright Horizons Family Solutions †	207,845		24,359,434
Chewy Class A †	526,855		23,545,150
Chipotle Mexican Grill †	62,930		66,225,015
DraftKings Class A †	1,266,530		42,124,788
LGI Homes †	1,023,823		90,127,139
Lululemon Athletica †	1,535		478,935
Planet Fitness Class A †	480,605		29,110,245
Pool	176,573		48,004,901
Thor Industries	195,660		20,843,660
TopBuild †	732,773		83,367,584
YETI Holdings †	2,950,344		126,068,199
			554,255,050
Consumer Staples - 5.25%
Boston Beer Class A †	178,296		95,682,548
Performance Food Group †	693,905		20,220,392
Simply Good Foods †	1,438,705		26,731,139
			142,634,079
Financials - 0.05%
eHealth †	13,497		1,325,945
			1,325,945
Healthcare - 27.37%
Exact Sciences †	1,138,283		98,962,324
Invitae †	3,803,357		115,203,683
iRhythm Technologies †	814,470		94,388,928
Neurocrine Biosciences †	666,010		81,253,220
Novocure †	880,393		52,207,305
Pacira BioSciences †	1,891,475		99,245,693
Progyny †	3,345,941		86,358,737
Quanterix †	1,302,095		35,664,382
Sarepta Therapeutics †	497,240		79,727,462
Teladoc Health †	2,934		559,925
			743,571,659
Industrials - 7.72%
SiteOne Landscape Supply †	938,329		106,941,356
Trex †	790,214		102,783,135
			209,724,491

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Schedule of investments

Delaware Smid Cap Growth Fund (Unaudited)

		Number of shares		Value (US $)
	Common Stock ✧(continued)
	Technology - 32.20%
	Avalara †	582,700	$	77,551,543
	Coupa Software †	192,150		53,233,236
	EPAM Systems †	259,558		65,411,212
	Everbridge †	463,666		64,152,828
	Lattice Semiconductor †	913,970		25,947,608
	Marvell Technology Group	2,783,249		97,580,710
	Monolithic Power Systems	177,465		42,059,205
	Okta †	339,589		67,995,905
	RingCentral Class A †	369,657		105,355,942
	Splunk †	245,984		48,877,021
	Square Class A †	1,053,285		110,531,728
	Trade Desk Class A †	285,107		115,895,995
				874,592,933
	Total Common Stock (cost $1,804,825,229)			2,714,567,655
	Total Value of Securities – 99.93%
	(cost $1,804,825,229)			2,714,567,655
	Receivables and Other Assets Net of Liabilities – 0.07%			1,821,571
	Net Assets Applicable to 76,967,526 Shares Outstanding – 100.00%		$	2,716,389,226
✧	Narrow industries are utilized for compliance purposes for diversification whereas broad sectors are
	used for financial reporting.
†	Non-income producing security.

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